It is about. The vocals pitch of male CEOs is an “honest signal of their quality that is hormonal. we use digitally analyzed voice pitch of 167 Wall Street male CEO interviews on CNBC throughout the 2008 financial meltdown and locate a negative relationship between your vocals pitch regarding the CEO therefore the threat of the company. Deep-voiced male CEOs were very likely to be fired following the economic crisis up until 2012. Begin to see the instance of Barclays right next! Microstructure occasion research reveals that deeply voiced CEOs’ TV interviews increased stock return volatility transitorily in the moment for the interviews.
Presented at Nanyang company School in Singapore, Deakin University, Asian FA 2018 at Tokyo, KAIST, Seoul nationwide University, Seoul Quant Conference 2017, the University of Michigan – Flint
(with Jen CHANG and Min Jung KANG)
Most useful Paper Award: Asian-Pacific Conference on Global Accounting Problems 2018
Presented at Asian-Pacific Conference on International Accounting problems, san francisco bay area, 2018; the Joint Accounting Workshop of SKKU & National Taipei University, May 2018 – by Jen CHANG november.
It’s about. Whenever bankers that are commercial in the board as separate directors of borrowing organizations, they fire the CEOs more sensitively to firm risk, and afterwards the company danger decreases. It supports «conflict of great interest» theory.
Presented at ILERA worldwide Congress 2018 in Seoul, Korea 2018
It really is about. Utilizing the transcripts of 7,000 CEO interviews on CNBC, we investigate whether male and CEOs that are female pertaining to self-attribution bias.
«Predicting North Korean Aggression operating Foreign brief product Sales and Media Tone»(with Min Jung KANG essential link, Doug KIM, & Hosung JUNG) – Outstanding outside Collaboration Award by Bank of Korea, 2014 (???? ?? ?????? ? ??) Presented at FMA 2017, Boston.
It is about. We utilize North Korea being an exogenous surprise to your amount of geopolitical danger of South Korea, due to the fact previous transitioned from a situation without nuke/ICBM to a situation with people throughout the final ten years. A permanent -1.59% automobile in Korean market and -0.88% vehicle in the usa market are reported whenever NK tests the tools, but just short run overreaction is discovered for NK army aggressions. We detect irregular brief product product product sales from the international organizations associated with the nations having diplomatic relations with NK (especially the UK) before the shock assaults and nuke assessment ( not when it comes to ones through the nations without), which suggests geopolitical insider trading.
**Media protection with this paper:
Presented at Seoul nationwide University, SKKU, Korea University, Hong Kong City University, Hong Kong Polytech, KAIST, NTU, AECF (Asian Economic online community, Incheon, Korea, 9/20/2014).
It is about. Whether better liquidity of this currency markets drives the business to be much more or less myopic actually hinges on what type of institutional investors have big ownership regarding the firm. We make use of the decimalization regarding the currency markets in 2001 as a shock that is exogenous market liquidity and discover that the organizations with increased ownership by transient institutional investors became more myopic with regards to CEO dismissal.
It really is about. After receiving public that is tremendous due in component to your provocative news portrayal of its CEO, in a write-up en titled “Goldman’s employer: We do God’s work,” Goldman Sachs jumped up to rank no. 2 when it comes to philanthropic efforts (PC, hereafter) this season. Utilizing textual analysis of 1 million news articles concerning the biggest 100 companies in america over 2000
2010, we realize that companies strengthen their CSR performance and save money on Computer whenever general public viewpoint about their CSR is negative with intensive news protection.
Presented at Korea University, nationwide University of Singapore, SKKU, Yonsei University, and CAFM 2013.
**Media protection relating to this paper: FORTUNE Korea (August 2015)
«CEO Interviews on CNBC» (with Felix Meschke)
It is about. Individual investors have stoked up about the ongoing business and get the stock once the business gets news attention. CEO meeting produces excitement that is genuine attention with least brand brand new information as a result of concern of reasonable disclosure. Effective market theory would anticipate no cost reaction to such pseudo event, but we nevertheless find significant reversal and jump. The magnitude of reaction is a function for the viewership. Institutional investors short offer more on the days of news interviews.
Presented during the AFA (by coauthor), CICF, Singapore Finance Conference, SKKU GSB
**Media protection about that paper
It is about. Whenever bankers that are commercial regarding the board as separate directors of borrowing companies, they decrease stock cost crash danger, specially when the borrowing company’s credit risk is high. It supports expertise that is»financial theory.
Presented at the AFA2017 Chicago Meeting, 2017 SFM Taiwan Conference, the University of Edinburgh, Cambridge University, the FMA that is asian 2015 Seoul, Korean Finance Association fulfilling 2015, KAIST, Seoul nationwide University, and UNIST,
Winner associated with Best paper honor (second greatest) at SFM Taiwan Conference 2017, Korean Finance Association fulfilling 2015
It is about. : simply how much does the masculinity of this CEO impact the chance of the company? Using facial width-to-height ratio (fWHR), an excellent proxy for masculinity this is certainly considered to be connected with aggressive danger looking for behavior, we discover that masculine experienced CEOs (1) enhance company riskstock return volatility & idiosyncratic vol; (2) keep high leverage ratio; (3) are more acquisitive more # of discounts, $$$ on deals, purchase premium and reduced purchase announcement return; and (4) receive high compensation that is VEGA. We find robust outcomes making use of AI measured fWHR. FinTech implication: banking institutions could enhance measuring the danger preference of retail clients by making use of photo that is scanned.
Python coding of (measuring fWHR) available upon demand – Please cite us.