S. Ghon Rhee

S. Ghon Rhee
  • Professor of Finance
  • K.J. Luke Distinguished Professor
  • Faculty Advisor for the Corporate Finance Track
  • Founding Editor for the Pacific-Basin Finance Journal

Room

BusAd C-304

Phone

(808) 956-8582

Academic Background

  • PhD, Ohio State
  • MBA, Rutgers University
  • BS, College of Law, Seoul National University

Research Interests

  • Corporate Finance
  • Market Microstructure
  • Empirical Asset Pricing Models
  • Investments
  • Asian Financial Markets

Selected Publications

“Dealership versus Continuous Auction: Evidence from the JASDAQ Market” (co-authored with

Kentaro Iwatsubo and Ye Zhou Zhang) forthcoming in the Pacific-Basin Finance Journal, 2023.

“Underwriting in the Australian IPO Markets: Determinants and Pricing” (co-authored with Alastair Marsden, Zoltan Mugulove, and Madhu Veeraraghavan) forthcoming in Australian Journal of Management, 2023.

 “Do Investors Value Shareholder Perks? Evidence from Japan” (co-authored with Wei Huang. Katsushi Suzuki and Taeko Yasutake), Journal of Banking and Finance 143 (2022), 106575 [Link]

“Golden Handcuffs and Corporate Innovation: Evidence from Defined Benefit Pension Plans” (co-authored with Bin Qiu and Huu Nhan Duong), Review of Corporte Finance Studies 11.1, February 2022, 128-168. [Link]

“Price Momentum and Trading Volume, Revisited” (co-authored with Tsung-Yu Chen, Pin-Huang Chou, Chia-Hsuan Hsieh), Journal of Banking and Finance 127 (2021), 106119. [Link].

“Non-parametric Momentum based on Ranks and Signs” (co-authored with Tsung-Yu Chen, Pin-Huang Chou, Kuan-Cheng Ko), Journal of Empirical Finance 60, January 2021, 94-109 [Link]

“Do Low Search Frictions Facilitate Like-buys-Like Mergers? Evidence From Common Bank Networks” (co-authored with Jiakai Chen and Joon-Ho Kim) Journal of Financial Economics 140 (2021), 484-513. [Link]

“Do Japanese Firms Systematically Inflate Expected Rate of Returns from Defined Benefit Pension Plans?” (co-authored with Yiyi Qin and Jun Cai) Pacific-Basin Finance Journal 68, September 2021, 103321. [Link]

“Why Corporate Innovation Declines after Stock Splits?” (co-authored with Di Kang and Mark Liu), 2020, China Accounting and Finance Review 22(1), 67-95. [Link]

 “Conditional Extreme Risk, Black Swan Hedging, and Asset Prices” (co-authored with Feng Wu), Journal of Empirical Finance 58, September 2020, 412-435. [Link]

“Navigating through Economic Policy Uncertainty: The Role of Corporate Cash Holdings” (co-authored with Huu Nhan Duong, Justin Hung Nguyen, and My Nguyen) Journal of Corporate Finance 65, June 2020, 101607. [Link]

“Nominal Stock Price Anchors: A Global Phenomenon?” (co-authored with Kee-Hong Bae, Utpal Bhattacharya, and Jisok Kang), 2019, Journal of Financial Markets 44, 31-41. 

“Residual Momentum and Investor Underreaction in Japan” (co-authored with Rosita P. Chang, Shinji Nakano, and Kuan-Cheng Ko), 2018, Journal of Empirical Finance 45, 283-299. 

“CEO Inside Debt and Convertible Bonds” (co-authored with Carl Shen and Wei-Hsien Li), 2018, Journal of Business Finance & Accounting 45, 232-249. 

“Trade-Based Manipulation in IPOs: Beyond the Prosecuted Cases,” (co-authored with Suman Neupane and Madhu Veeraraghavan), 2017, Journal of Corporate Finance 42, 115-130. 

“Do Progressive Social Norms Affect Economic Outcomes? Evidence from Corporate Takeovers” (co-authored with Yangyang Chen, Edward J. Podolski, and Madhu Veeraraghavan), 2017, Journal of Empirical Finance 41, 76-95. 

“Religious Beliefs and Local Government Financing, Investment, and Cash Holding Decisions” (co-authored with Yangyang Chen, Zoltan Murgulov, and Madhu Veeraraghavan), 2016, Journal of Empirical Finance 38, 258-271. 

"Stock Liquidity and Managerial Short-Termism" (co-authored with Yangyang Chen, Madhu Veeraraghavan, and Leon Zolotoy), 2015, Journal of Banking and Finance 60. 44-59. 

“National Culture and Cash Holdings in International Markets” (co-authored with Yangyang Chen, Cameron Truong, and Madhu Veeraraghavan), 2015, Journal of Banking and Finance 50, 1-18. 

“Local Gambling Preferences and Corporate Innovative Success” (co-authored with Yangyang Chen, Edward J. Podolski, and Madhu Veeraraghavan), 2014, Journal of Financial and Quantitative Analysis 49(1), 77-106.

 “Conditional Extreme Risk, Black Swan Hedging, and Asset Prices” (co-authored with Feng Wu) forthcoming in Journal of Empirical Finance. 

“Do Low Search Frictions Facilitate Like-buys-Like Mergers? Evidence From Common Bank Networks” (co-authored with Jiakai Chen and Joon-Ho Kim) forthcoming in Journal of Financial Economics. 

“Navigating through Economic Policy Uncertainty: The Role of Corporate Cash Holdings” (co-authored with Huu Nhan Duong, Justin Hung Nguyen, and My Nguyen) forthcoming in Journal of Corporate Finance. 

“Nominal Stock Price Anchors: A Global Phenomenon?” (co-authored with Kee-Hong Bae, Utpal Bhattacharya, and Jisok Kang), 2019, Journal of Financial Markets 44, 31-41. 

“Residual Momentum and Investor Underreaction in Japan” (co-authored with Rosita P. Chang, Shinji Nakano, and Kuan-Cheng Ko), 2018, Journal of Empirical Finance 45, 283-299. 

“CEO Inside Debt and Convertible Bonds” (co-authored with Carl Shen and Wei-Hsien Li), 2018, Journal of Business Finance & Accounting 45, 232-249. 

“Trade-Based Manipulation in IPOs: Beyond the Prosecuted Cases,” (co-authored with Suman Neupane and Madhu Veeraraghavan), 2017, Journal of Corporate Finance 42, 115-130. 

“Do Progressive Social Norms Affect Economic Outcomes? Evidence from Corporate Takeovers” (co-authored with Yangyang Chen, Edward J. Podolski, and Madhu Veeraraghavan), 2017, Journal of Empirical Finance 41, 76-95. 

“Religious Beliefs and Local Government Financing, Investment, and Cash Holding Decisions” (co-authored with Yangyang Chen, Zoltan Murgulov, and Madhu Veeraraghavan), 2016, Journal of Empirical Finance 38, 258-271. 

"Stock Liquidity and Managerial Short-Termism" (co-authored with Yangyang Chen, Madhu Veeraraghavan, and Leon Zolotoy), 2015, Journal of Banking and Finance 60. 44-59. 

“National Culture and Cash Holdings in International Markets” (co-authored with Yangyang Chen, Cameron Truong, and Madhu Veeraraghavan), 2015, Journal of Banking and Finance 50, 1-18. 

“Local Gambling Preferences and Corporate Innovative Success” (co-authored with Yangyang Chen, Edward J. Podolski, and Madhu Veeraraghavan), 2014, Journal of Financial and Quantitative Analysis 49(1), 77-106.

Awards & Honors

2020 Taiwan Finance Association Best Paper Award on “National Cultures and the Asset Growth Effect” (co-authored with Robin K. Chou and Kuan-Cheng Ko).

2020 China International Risk Forum (CIRF) Lifetime Achievement Award, August 22, 2020.

2019 Robert Hansen Corporate Finance Paper Award at the Dilip K. Shome Conference, Pamplin College of Business, Virginia Polytechnic University for “Does Better Corporate Governance Encourage Payout? Idiosyncratic Risk, Agency Problem, and Dividend Policy” (co-authored with Debarati Bhattacharya and Wei-Hsien Li).

2017 Asian Finance Association Best Paper Award on “Economic Policy Uncertainty and Corporate Cash Holdings” (co-authored with Huu Duong, Justin Nguyen, and My Nguyen”, Seoul, Korea, July 6-8, 2017.

2013 Financial News-Korean American Finance Association Eminent Scholar Award, Chicago, October 18, 2013.

The Mega Financial Holdings Best Paper Award on “Institutional Investors and Short-Term Return Reversals” (co-authored with Qianqiu Liu and Hong Vo) at the 2012 Asian Finance Association Annual Meeting, Taipei, Taiwan, July 6-9, 2012.

2012 Shirley M. Lee Research Award of the Shidler College of Business on May 4, 2012.

A best paper award on “The Impact of Short Sales on the Speed of Price Adjustment: Evidence from the Hong Kong Stock Exchange” (co-authored with Crystal Xiaopei Chen), at the 19th Annual Meeting of the Asian Finance Association in Hong Kong on July 4-6, 2007.

The University of Catania (Sicily) and Erasmus University (Netherlands)’s Archimedes Award, March 2001