Jaiho Chung

Abstract Manuscript Type Empirical Research Question/Issue This paper examines whether firms choose destinations with stronger investor protection than those provided in their respective home markets after controlling for both firm‐specific and destination‐specific characteristics that affect the choice of cross‐listing destination. Research Findings/Insights Using data on cross‐listing decisions of firms from 28 home countries targeted toward nine destinations for the 1994–2008 period, we find

2008년 전세계 경제를 침체에 빠뜨린 글로벌 금융위기는 자본주의 경제체제의 지속가능성에 대해서 다시 생각하게 되는 계기를 마련해주었다. 본 논문은 자본주의의 미래와기업의 사회적 책임이라는 주제를 중심으로 다음과 같은 세 가지 질문에 대해서 논의한다. 첫째, 자본주의의 총체적 위기인가? 아니면 특정 자본주의 형태의 위기인가? 둘째,자본주의가 위기를 극복하기 위해 새롭게 탈바꿈한다면 미래의 새로운 자본주의는어떤 모습일까? 셋째, 지속 가능한 새로운 자본주의에서는 기업의 사회적 책임 중어떤 부분이 강조되어야 하는가? 이 글은 먼저 글로벌 금융위기는 자본주의의 총체적위기가 아니라 신자유주의에 기반한 시장만능주의의 위기이며 시장메커니즘을 중시하는 영미식 자유시장경제 자본주의의 위기임을 주장한다. 또한 새로운 자본주의에서는시장 실패의 문제를 극복하기 위해서 경제주체들의 경제윤리 함양이 필수적임을 주장한다. 마지막으로 새로운 자본주의에서의 기업의 사회적 책임은 기업이 정의(justice)의원칙

CdCr2O4 is a cubic spinel with geometrically-frustrated antiferromagnetic interactions betweenCr3+ ions. We investigated the structural and magnetic phase transitions in powder samples byusing magnetization and neutron diffraction measurements. An antiferromagnetic phase transitionwas observed at TN = 8.1 K, below which the crystallographic unit cell was tetragonal (c < a = b). Its incommensurate antiferromagnetic ordering below TN resembles dimerized spin chains in theab planes with the propaga

A sports lottery in Korea presents a unique opportunity for comparing a parimutuel‐type sports lottery market against a bookmaker market outside the realm of horse racing. Using two‐ and three‐game soccer final‐score betting in the sports lottery market in Korea, which features matches in the English Premier League, we compare winning payoffs in this parimutuel‐type sports lottery against corresponding payoffs from an established bookmaker market in the United Kingdom. We find that for outcomes

Abstract Building on the models of Benveniste &amp; Spindt (1989) and Maksimovic &amp; Pichler (2006) , the present paper examines the optimal pricing and allocation mechanism for private placements of equity. Our model shows that for firms that receive favorable information prior to private placements, both the information acquisition cost and the value of information affect the offer discount. However, for firms that receive unfavorable information, only the information acquisition cost is the

Varicose veins usually present in the superficial veins of the lower extremities and are one of the main clinical presentations of chronic venous disease (CVD). Patients’ symptoms may vary according to the pathophysiology, location, and severity of CVD. The prevalence of CVD in Korea has been increasing gradually. However, due to its broad clinical spectrum and the subjective nature of its diagnosis using ultrasound, discrepancies in diagnostic and treatment quality may exist among treating phys

Abstract: Although previous research has suggested that the level of disclosure is positively related to stock market efficiency, it remains unclear whether an increase in the level of disclosure can facilitate price discovery regardless of the quality of information provided in the disclosure. We examine stock returns around 131 derivative‐related loss announcements in the Korean stock market from March 2008 to June 2009 to study how disclosure quality might affect the manner in which newly dis

This paper examines the firms’ foreign listing location decision, using cross-listings data from 28 origin countries to 9 destinations during 19942008, Our main finding is that firms are more likely to choose crosslisting destinations that are less strict on regulating self-dealing or exhibit higher block premiums relative to the origin country, and this tendency is more pronounced after Sarbanes-Oxley in 2002. Moreover, firm characteristics that are positively correlated with likelihood of a US

Background When performing lymphovenous anastomosis, it is sometimes difficult to find venules in the proximity of an ideal lymphatic vessel that have a similar diameter to that of the lymphatic vessel. In this situation, larger venules can be used. Methods The authors evaluated the efficacy of and patient satisfaction with lymphovenous bypass with sleeve-in anastomosis. Between January 2014 and December 2016, we performed this procedure in 18 patients (eight upper extremities and 10 lower extre

While the Helpman-Trajtenberg model is successful in explaining the macroeconomic cycle generated by GPT in the context of a closed economy, open-economy implications regarding GPT have received scant attention. We seek to fill such void in the previous literature by developing a dynamic North-South trade model with GPT. Our major findings are : 1) the introduction of GPT causes a product cycle from the North to the South followed by a reverse product cycle from the South to the North; 2) the pr

본 논문은 기업의 환위험 관리에 대한 문헌을 소개하는 것을 목적으로 한다. 이 문헌연구는 다음과 같은 두 가지 질문을 중심으로 이루어진다. 첫째, 환노출은 어떻게 정의되고 측정되는가? 둘째, 환노출에 영향을 미치는 요인들은 무엇인가? 특히, 환노출에 영향을 미치는 요인들 중 기업의 재무적 전략, 운영적 전략, 그리고 가격 책정 전략에 대한 연구들을 중점적으로 살펴본다. 본 논문은 기존의 연구에서 다루어지지 않은 향후 연구 방향도 소개한다.