工作论文 PAPERS
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The Effect of Stock Liquidity on Debt-Equity Choices
We examine the effect of stock liquidity on a firm’s choice between debt and...
William Cheung, Hyun Joong Im, and Bohui Zhang
| Working Paper |No. 2017003
Keywords: Stock liquidity, Debt issuance, Equity issuance, Capital structure
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The Effect of Technological Imitation on Corporate Innovation: Evidence from ...
Using US patent data for the period 1977–2005, we find that there are invert...
Hyun Joong Im, Yang Liu and Janghoon Shon
Working Paper | No. 2017002 |
Keywords: Corporate innovation, Technological imitation, Value of innovation
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Idiosyncratic Risk and Acyclically Increasing Public Debt
This paper proposes a politico-economic theory of public debt dynamics that a...
Insook Lee
Working Paper | No. 2017001 |
Keywords: Government debt, Cyclical property of public debt, Idiosyncratic risk, Political economy of pub
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Uncertainty and the Value of Cash Holdings
This study examines the effects of uncertainty on the value of cash holdings
Hyun Joong Im, Heungju Park and Gege Zhao
Working Paper | No. 2016009 |
Keywords: Uncertainty, Cash holdings, Real options, Financial constraints, Agency costs
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Predicting the Critical Time of Financial Bubbles
Detecting and predicting financial bubbles have become crucially important b...
Kwangwon Ahn, Jacqueline B. Dai, Domenico Tarzia and Fan Zhang
Working Paper | No. 2016008 |
Keywords: Critical time, Bubbles, Log-periodic, power law Econophysics
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Bequest and Moral Hazard in Family
Observed bequest patterns of widely diverse societies are polarized into equi...
Insook Lee
Working Paper | No. 2016007 |
Keywords: Bequest motive, Unigeniture, Equigeniture
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Sticky Dividends: A New Explanation
This study proposes a generalized partial adjustment model of dividends in wh...
Chang Yong Ha, Hyun Joong Im, Ya Kang
Working Paper | No. 2016006 |
Keywords: Payout policy, Speed of adjustment, Dividend dynamics, Adaptive expectations
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Training, Skill-Upgrading and Permanent Migration: Evidence from China
The massive rural-to-urban migration is one of the most important features of...
Qing Wang, Ting Ren, Ti Liu
Working Paper | No. 2016005 |
Keywords: Human capital, Migration, Skill-upgrading, Training
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Collective Behavior in Corporate Bankruptcies and Business Cycle
We investigate collective behavior in corporate bankruptcies and its relation...
Kwangwon Ahn, Jacqueline B. Dai, Chang Yong Ha and Basak Yakis-Douglas
Working Paper | No. 2016004 |
Keywords: Collective behavior,Corporate bankruptcy,Business cycle,Power law distribution,Agent- based model
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Uncertainty, Major Investments, and Capital Structure Dynamics
This study examines the effects of uncertainty on firms’ capital structure d...
Chang Yong Ha, Hyun Joong Im, Kose John and Janghoon Shon
Working Paper | No. 2016003 |
Keywords: Uncertainty, Leverage, Capital structure dynamics, Major investments