Research

Research Papers

  • “Intended Consequences of More Frequent Portfolio Disclosure” with Koren Jo, Jaeouk Kim, and Sejin Kang, 2024, Working Paper.

  • “Heterogeneity and Persistence in Performance of Portfolio Managers” with Kyeongbae Kim and Jaemin Lee, 2021, Under revision.

  • “The Introduction of Governance Regulation on Financial Institutions and Its Effect on Firm Value” (in Korean) with Yangsoo Lee and Koren Jo, 2024, Financial Stability Studies.

  • “Do Prime Brokers Matter in the Search for Informed Hedge Fund Managers?” with George Aragon and Byoung-Uk Kang, 2023, Management Science, Vol. 69, no.8, pp. 4932-4952. Download

    • Semifinalist for the best paper award at the 2019 FMA Annual Meeting.

  • “Has the Value of Cash Increased over Time?” with Boochun Jung and Duri Park, Accounting and Finance, 2020, Vol. 60, no 3, pp. 2263–2299. Download

  • “Capital Structure and Unemployment Risk: Evidence from Korea” (in Korean) with Jaeouk Kim, Asian Review of Financial Research, 2016, Vol. 29, no 4, pp. 437-472. Download

    • Asian Review of Financial Research Best Paper Award Runner-Up, 2017

  • “Prime Broker-Level Comovement in Hedge Fund Returns: Information or Contagion?” with Byoung Uk Kang, Review of Financial Studies, 2016, Vol. 29, no. 12, pp. 3321-3353. Download

    • Financial News & KAFA Top-Journal Award. 2016

  • “Pay for Performance from Future Fund Flows: The Case of Private Equity” with Berk Sensoy, Lea Stern, and Mike Weisbach, Review of Financial Studies, 2012, Vol. 25, no. 11, pp. 3259-3304. Download

    • Wharton School WRDS Award for Best Empirical Finance Paper, Western Finance Association Meeting, 2011; Korea Investment & Securities Outstanding Paper at The 6th International Conference on Asia-Pacific Financial Markets, 2011; Featured in Finance and Accounting Memos, Issue 2, 2014

  • “Performance Persistence in Private Equity Funds,” 2012, Working Paper. Download

    • Ph.D. Prize of the Coller Institute of Private Equity at London Business School, 2010; Featured in Private Equity Findings, Issue 4, Spring 2011

  • “Leveraged Buyouts of Private Companies,” 2011, Working Paper. Download

Book Chapters

  • Waterfall in Private Equity, The Palgrave Encyclopedia of Private Equity, Springer

  • Compensation Structure, Chapter 20 in Private Equity - Opportunities and Risks, Oxford University Press, Download