Hyun Joong Im, Heungju Park, and Gege Zhao
ARTICLE | Economics Letters | Forthcoming
We find that a firm facing higher uncertainty has a higher value of cash...
Keywords: Uncertainty, Value of cash
Timothy (Jun) Lu, Olivia S. Mitchell, Stephen P. Utkus, Jean A. Young
ARTICLE | National Tax Journal | Forthcoming
Keywords: Borrowing from the Future: 401(k) Plan Loans and Loan Defaults
Michael Lewis, Yeujun Yoon
ARTICLE | Journal of Sports Economics | Forthcoming
While the determinants of Major League Baseball attendance have been thoroughly researched, the literature is conspicuously incomplete in regard to the attendance effects of star players...
Keywords: Attendance effects, Star pitchers, League baseball
Loss Aversion and Reference Dependence Effect of Online Word of Mouth (WOM) via Twitter on Moviegoers' Decisions
Yeujun Yoon，Young Joon Park
ARTICLE | Journal of Advertising Research | Forthcoming
Keywords: Loss aversion, Reference dependence effect
Strategic Planners in More Turbulent Times: The Changing Job Characteristics of Strategy Professionals, 1960–2003
Richard Whittington, Basak Yakis-Douglas, Kwangwon Ahn, Ludovic Cailluet
ARTICLE | Long Range Planning | Forthcoming
This paper investigates the changing job characteristics of strategic planners in the face of long-run increases in environmental turbulence since the 1960s...
Keywords: Strategic planners, More turbulent times
Richard Whittington, Basak Yakis-Douglas, Kwangwon Ahn
ARTICLE | Strategic Management Journal | Forthcoming
We develop and test a set of hypotheses on investors’ reactions to a specific form of impression management, public presentations of overall strategy by Chief Executive Officers (CEOs) Contrary to expectations from a ‘cheap talk’ perspective, we su...
Keywords: Impression management, New CEOs, Strategy presentations, Event study methodology, Voluntary disclosures
Chunyang Wang, Pu Chen
Annals of Economics and Finance | Forthcoming |
Financial market imperfection, Exchange rates, Export...
Keywords: Financial market imperfection, Exchange rates, Export
Baixiao Liu, John J. McConnell, Wei Xu
ARTICLE | Journal of Banking and Finance | Vol. 76, 2017
By examining the post-retirement outside board seats held by former CEOs of S&P 1500 firms, we find that...
Keywords: Media, Human capital, CEO retirement, Outside directorships
Heungju Park, Lan Ju, Tianyu Liang, Zhiyong Tu
ARTICLE | Pacific-Basin Finance Journal | Vol. 41, 2017
This paper analyzes art investments with different investment horizons based on the repeated sales transactions in the Chinese calligraphy and paintings auction market from 1994 to 2012...
Keywords: Art investment, Repeated sales, Horizon analysis, Chinese art market
Keith Jacks Gamble, Wei Xu*
ARTICLE | Journal of Empirical Finance | Vol. 40, 2017
Our study suggests that despite the enforcement of insider trading laws, there are still some investors trading on their private information Using account-level information, we show that some retail investors seem to be informed about particular stocks...
Keywords: Short sale, Retail trades, Informed trades, Retail order flow
Economic Growth and Labor Market Friction: A Quantitative Study on Japanese Structural Transformation
Seung-Gyu (Andrew) Sim, Seungjoon Oh
ARTICLE | The B.E. Journal of Macroeconomics | No. 1, Vol. 17, 2017
This paper develops a tractable multi-sector endogenous growth model with labor market friction and human capital accumulation to analyze the underlying link between economic growth and labor market institutions...
Keywords: Structural transformation, Economic growth, Labor market friction
Qing Wang, Xiangrong Yu
ARTICLE | Journal of Comparative Economics | September 2016
This paper introduces parent-child interactions into the Beckerian model of human capital...
Keywords: Family Linkages, Social Interactions, and Investment in Human Capital: A Theoretical Analysis
Monte J.Shaffer, KevinChastagner*, and U.N.Umesh
ARTICLE | Journal of International Marketing | No. 3, Vol. 24, 2016
Innovation-performance research, when conducted at the firm level, neglects the role of innovation that is created without firm involvement...
Keywords: Innovation, Internationalization, Export performance, High technology, Patents, Panel data analysis
Merger and acquisition by Chinese firms: A review and comparison with other merger and acquisition research in the leading journals
Zhu, Hong., Zhu, Qi*
ARTICLE | Asia Pacific Journal of Management | Vol. 33, 2016
In recent years, an increasing number of Chinese firms have been engaged in acquisitions both inside and outside of China...
Keywords: Merger and acquisition by Chinese firms: A review and comparison with other merger and acquisition research in the leading journals
Effects of dependent coverage mandate on household precautionary savings: Evidence from the 2010 Affordable Care Act
ARTICLE | Economics Letters | Vol. 147, 2016
This article examines the effects of the health insurance coverage mandate for young adults on household precautionary savings by focusing on the Affordable Care Act (ACA) of 2010...
Keywords: Affordable Care Act; Dependent coverage mandate; Precautionary savings
Cross-Border Acquisitions and the Asymmetric Effect of Power Distance Value Difference on Long-Term Post-Acquisition Performance
Huang, Zhi., Zhu, Hong*, & Brass, Daneil
ARCITLE | Strategic Management Journal | Vol. 33, 2016
To demonstrate a different approach, this study focuses on one dimension of national cultural values—power distance value (PDV) and develops a framework for the asymmetric effect of PDV differences in creating two types of conflicts...
Keywords: Acquisition, National culture, Power distance value, Status, Post-acquisition performance
Lan Ju, Timothy (Jun) Lu, Zhiyong Tu
ARTICLE | International Review of Finance | Vol.16, SEP 2016
This paper studies the risk of Bitcoin being used for the purpose of capital flight...
Keywords: Capital Flight and Bitcoin Regulation
Chunyang Wang, Liping Lu
ARTICLE | Applied Economics | Vol. 48, Dec. 2016
This article examines the effect of Warren Buffett s investment in Goldman Sachs on 24 September 2008, during the subprime mortgage crisis...
Keywords: Financial contagion, Event studies, Financial crisis, Abnormal return, G14, G20
Bumjean Sohn，Heungju Park
ARTICLE | Finance Research Letters | Vol. 18, AUG 2016
This study examines whether early warning indicators of banking crisis can predict the U S bank related stock returns in credit tightening periods...
Keywords: Credit cycles, Banks, Bank dependent firms, Stock return predictability
ARTICLE | International Migration Review | Fall 2016
This study examines the impact of male migration to the United States on female labor market outcomes in Mexico, using the longitudinal data set from the Mexican Family Life Survey...
Keywords: Male migration, Female labor market attachment
Wei Wang, Liying Wang, Yingjie Lan*, Jean X. Zhang
ARTICLE | European Journal of Operational Research | Vol. 252, 2016
We consider robust one-way trading with limited information on price fluctuations Our analysis finds the best guarantee of difference from the optimal offline performance We provide closed-form solution, and reveal for the first time all possible worst-...
Keywords: Robustness and sensitivity analysis, One-way trading, Competitive analysis, Online algorithms
Thinking Concretely or Abstractly: The Influence of Fit between Goal Progress and Goal Construal on Subsequent Self-Regulation
Jooyoung Park*, William M. Hedgcock
ARTICLE | Journal of Consumer Psychology | Vol. 26, 2016
This study investigates the influence of brand personality on consumer loyalty and the moderating role of relative brand identification for multiple brands in the same product category...
Keywords: Consumer loyalty, Brand loyalty, Brand personality, Relative brand identification, Dimensions
Chia-Shang J. Chu*, Nan Liu, Lina Zhang
ARTICLE | Economics Letters | Vol. 143, 2016
We derive the asymptotic distribution of the overall significance LM test in a multinomial logit model with nonstationary covariates when the qualitative response is serially correlated and show that conventional significance tests can result in spurious...
Keywords: Nonstationary multinomial logit, Discrete autoregression, Significance test
Lei Sun, Martin Widdicks*
ARTICLE | Journal of Corporate Finance | Vol.38, 2016
The use of options as compensation for non-executive employees is a puzzle Standard, rational, valuation models show that the cost of issuing options is larger than the value placed on the options by employees...
Keywords: Employee stock options, Prospect theory, Overconfidence, Early exercise
Nan Liu, Jamshid Mehran
ARTICLE | Managerial Finance | Vol. 42, 2016
The purpose of this paper is to investigate whether firms repurchase shares to meet or just beat their dividend target as managers perceive share repurchases are more flexible than dividends and managers have a strong desire to maintain dividend levels...
Keywords: Dividends, Benchmark, Repurchase