Taejin Jung

This study aims to evaluate the effect of occupational exposure to noise and organic solvents on hearing loss in the aviation industry. The study population comprised 542 male workers, who worked in avionics jobs in Kimhae, Korea, who kept records of work environment evaluations and medical examinations. The Cumulative Exposure Index (CEI) was constructed to assess the lifetime cumulative exposure of the workers, and pure tone audiometry (PTA) data of the workers from their biannual medical surv

This paper investigates the auditors’ responses to the readability of annual reports, which are important sources of information for auditors in their audit planning and pricing decisions. Using unique audit fee and hour data for Korean listed companies, we find that hard-to-read annual reports are positively associated with audit fees and audit hours. However, no empirical association exists between annual report readability and hourly fee rates. These findings imply that while auditors exert a

ABSTRACT We study manufacturing firms' asymmetric inventory investment in response to sales changes. Focusing on the costs of resource adjustment and stockout that likely differ in sales‐increasing and sales‐decreasing periods, we predict and find that inventory investment declines less during periods with sales decreases than it rises during periods with sales increases. We validate this claim by showing that managers' expectations of future demand and desire to avoid inventory stockouts are im

Abstract Using US banks’ quarterly data from 1995 to 2014, this study examines the mechanism by which delayed expected loss recognition (DELR) affects the stock price crash risk of banks. We first show that greater DELR is positively associated with a subsequent crash in stock price. We then find that this association is only present when bank managers have more discretion in concealing bad news, which is proxied by the high proportion of heterogeneous loans. These findings provide policy implic

This study examines the association between abnormal disclosure tone in the Management Discussion and Analysis (MD&A) section of annual reports and analysts’ forecasting behavior. Using analysts’ forecast data of Chinese listed firms from 2008 to 2020, we find that analysts can discern abnormal tone in managers’ disclosures, leading to a downward revision of earnings estimates and an enhancement of forecast accuracy. Moreover, we observe that abnormal tone in the MD&A section attracts analysts’

Abstract During the 1997 Asian financial crisis, Korean regulators imposed a 200% leverage cap to curb excessive debt and restore economic stability. We examine the real effects and externalities of mandated capital structure changes resulting from this leverage ratio regulation. Our findings indicate that firms that met the leverage requirement experienced a significant decrease in firm risk. However, the effect varied depending on how firms adjusted their capital structure. Firms that chose to

ABSTRACT This paper examines whether managers of socially responsible firms strategically manage the tone of disclosure across different communication channels, with a focus on Management Discussion and Analysis (MD&A) and Corporate Social Responsibility (CSR) reports. Drawing on impression management theory, we argue that managers adjust the tone of narrative disclosures to maintain favorable perceptions among stakeholders while navigating varying levels of regulatory scrutiny. Using data f

ABSTRACT Research Question/Issue We examine how controlling shareholders' personal tax burdens, specifically inheritance and gift tax obligations, affect firm‐level financial decisions. Using a unique setting in South Korea, we investigate whether and how firms adjust their dividend policies in response to shareholder‐level liquidity pressures. Research Findings/Insights Using hand‐collected data on inheritance and gift events affecting controlling shareholders, we find that firms significantly