닥터파이낸스 웹사이트

(with Junho PARK and Hojong SHIN) 2022, Emerging Markets Review, 53, 100917. It's about ... Even in Korean/Asian setting, facial masculinity of the CEOs have significant predictive power to predict corporate fraud. Still, firms with better ESG performance seem to be better in harnessing aggressive risk seeking behavior of the CEOs. It's about...:When commercial bankers sit on the board as independent directors of borrowing firms, they fire the CEOs more sensitively to firm risk, and subsequently the firm risk decreases. It supports "conflict of interest" hypothesis. It's about...: When commercial bankers sit on the board as independent directors of borrowing firms, they reduce stock price crash risk, especially when the borrowing firm's credit risk is high. It supports "financial expertise" hypothesis. It's about...: Just how much does the masculinity of the CEO affect the risk of the firm? Using facial width-to-height ratio (fWHR), a solid proxy for masculinity that is known to be associated with aggressive risk seeking behavior, we find that masculine faced CEOs (1) increase firm risk[stock return volatility & idiosyncratic vol]; (2) maintain high leverage ratio; (3) are more acquisitive [more # of deals, $$$ on deals, acquisition premium and lower acquisition announcement return]; and (4) receive high VEGA compensation. We find robust results using AI measured fWHR. FinTech implication: banks could improve measuring the risk preference of retail customers by using scanned photo IDs. Presented at INSEAD (by coauthor), and the AOM 2016 Conference (Candidate for Best Paper Award: Printed at the AOM Proceedings). Presented at AECF (Asian Economic Community Forum, Incheon, Korea, 9/20/2014). Summary file is downloadable far below in this page. It's about...: When commerci