Author Page for Jaewon Choi

The Volatility of a Firm's Assets and the Leverage Effect

AFA 2010 Atlanta Meetings Paper

Number of pages: 64 Posted: 14 Mar 2009 Last Revised: 03 Sep 2015

University of Illinois at Urbana-Champaign - Department of Finance and Department of Finance, Leonard N. Stern School of Business, New York University

Downloads 1,990 (13,736)

Citation 41

Abstract:

2.

Corporate Debt Maturity Profiles

Downloads 1,671 (18,058)

Citation 46

2

Corporate Debt Maturity Profiles

Number of pages: 45 Posted: 30 Nov 2011 Last Revised: 30 Aug 2017

Jaewon Choi, Dirk Hackbarth and Josef Zechner

University of Illinois at Urbana-Champaign - Department of Finance, Boston University - Questrom School of Business and Vienna University of Economics and Business

Downloads 1,671 (17,737)

Citation 4

Abstract:

Corporate Debt Maturity Profiles

CEPR Discussion Paper No. DP12289

Number of pages: 48 Posted: 11 Sep 2017

Jaewon Choi, Dirk Hackbarth and Josef Zechner

University of Illinois at Urbana-Champaign - Department of Finance, Boston University - Questrom School of Business and Vienna University of Economics and Business

Downloads 0

Citation 38

Add to Cart

Abstract:

3.

What Drives the Value Premium?: The Role of Asset Risk and Leverage

Fifth Singapore International Conference on Finance 2011

Number of pages: 47 Posted: 10 Jun 2009 Last Revised: 21 Apr 2014

Jaewon Choi

University of Illinois at Urbana-Champaign - Department of Finance

Downloads 1,392 (23,797)

Citation 15

Abstract:

4.

Customer Liquidity Provision: Implications for Corporate Bond Transaction Costs

Downloads 1,257 (27,655)

Citation 20

2

Customer Liquidity Provision: Implications for Corporate Bond Transaction Costs

Management Science, forthcoming

Number of pages: 45 Posted: 08 Oct 2016 Last Revised: 14 Jun 2022

Jaewon Choi, Yesol Huh and Sean Seunghun Shin

University of Illinois at Urbana-Champaign - Department of Finance, Board of Governors of the Federal Reserve System and Aalto University - Department of Finance

Downloads 1,172 (30,202)

Citation 14

Abstract:

Customer Liquidity Provision: Implications for Corporate Bond Transaction Costs

FEDS Working Paper No. 2017-116

Number of pages: 56 Posted: 05 Dec 2017

Jaewon Choi and Yesol Huh

University of Illinois at Urbana-Champaign - Department of Finance and Board of Governors of the Federal Reserve System

Downloads 85 (489,021)

Citation 7

Abstract:

5.

Anomalies and Market (Dis)Integration

Journal of Monetary Economics, Forthcoming

Number of pages: 48 Posted: 22 Mar 2014 Last Revised: 21 Jun 2018

Jaewon Choi and Yongjun Kim

University of Illinois at Urbana-Champaign - Department of Finance and University of Seoul

Downloads 829 (49,891)

Citation 22

Abstract:

6.

Profitability of Hedge Fund Short Sales: Evidence from Opening and Closing Transactions

HKUST Finance Symposium 2016: Active Investing and Arbitrage Capital

Number of pages: 72 Posted: 24 Jun 2016 Last Revised: 21 Sep 2020

Jaewon Choi, Ji Min Park, Neil D. Pearson and Shastri Sandy

University of Illinois at Urbana-Champaign - Department of Finance, Nanyang Business School, University of Illinois at Urbana-Champaign - Department of Finance and The Brattle Group

Downloads 828 (49,972)

Citation 10

Abstract:

7.

Corporate Bond Mutual Funds and Asset Fire Sales

Number of pages: 59 Posted: 14 Feb 2016 Last Revised: 15 Sep 2019

Jaewon Choi, Saeid Hoseinzade, Sean Seunghun Shin and Hassan Tehranian

University of Illinois at Urbana-Champaign - Department of Finance, Suffolk University - Department of Finance, Aalto University - Department of Finance and Boston College - Department of Finance

Downloads 818 (50,749)

Citation 12

Abstract:

8.

Reaching for Yield in Corporate Bond Mutual Funds

The Review of Financial Studies (2018)

Number of pages: 53 Posted: 20 Nov 2014 Last Revised: 04 Nov 2019

Jaewon Choi and Mathias Kronlund

University of Illinois at Urbana-Champaign - Department of Finance and Tulane University

Downloads 759 (56,045)

Citation 31

Abstract:

9.

Sitting Bucks: Stale Pricing in Fixed Income Funds

Journal of Financial Economics (JFE), Forthcoming

Number of pages: 72 Posted: 23 Sep 2018 Last Revised: 15 Jul 2021

Jaewon Choi, Mathias Kronlund and Ji Yeol Jimmy Oh

University of Illinois at Urbana-Champaign - Department of Finance, Tulane University and Sungkyunkwan University

Downloads 706 (61,771)

Citation 14

Abstract:

10.

Capital Structure Priority Effects in Durations, Stock-Bond Comovements and Factor-Pricing Models

Downloads 664 (66,821)

2

Capital Structure Priority Effects in Durations, Stock-Bond Comovements and Factor-Pricing Models

Review of Asset Pricing Studies, forthcoming

Number of pages: 78 Posted: 12 Sep 2013 Last Revised: 15 Feb 2022

Jaewon Choi, Matthew P. Richardson and Robert Whitelaw

University of Illinois at Urbana-Champaign - Department of Finance, Department of Finance, Leonard N. Stern School of Business, New York University and New York University

Downloads 617 (72,443)

Abstract:

On the Fundamental Relation between Equity Returns and Interest Rates

NBER Working Paper No. w20187

Number of pages: 51 Posted: 11 Jun 2014 Last Revised: 27 Feb 2023

Jaewon Choi, Matthew P. Richardson and Robert Whitelaw

University of Illinois at Urbana-Champaign - Department of Finance, Department of Finance, Leonard N. Stern School of Business, New York University and New York University

Downloads 47 (668,886)

Abstract:

11.

Did Liquidity Providers Become Liquidity Seekers? Evidence from the CDS-Bond Basis during the 2008 Financial Crisis

Downloads 633 (71,076)

Citation 18

2

Did Liquidity Providers Become Liquidity Seekers? Evidence from the CDS-Bond Basis during the 2008 Financial Crisis

FRB of New York Staff Report No. 650

Number of pages: 49 Posted: 24 Oct 2013 Last Revised: 23 Dec 2014

Jaewon Choi and Or Shachar

University of Illinois at Urbana-Champaign - Department of Finance and Federal Reserve Bank of New York

Downloads 445 (108,280)

Citation 10

Abstract:

Dealer Liquidity Provision and the Breakdown of the Law of One Price: Evidence from the CDS-Bond Basis

Number of pages: 55 Posted: 18 Mar 2016 Last Revised: 27 Jan 2018

Jaewon Choi, Or Shachar and Sean Seunghun Shin

University of Illinois at Urbana-Champaign - Department of Finance, Federal Reserve Bank of New York and Aalto University - Department of Finance

Downloads 188 (265,926)

Citation 8

Abstract:

12.

Investor Demand, Firm Investment, and Capital Misallocation

Number of pages: 77 Posted: 23 Nov 2021 Last Revised: 06 Sep 2023

Jaewon Choi, Xu Tian, Yufeng Wu and Mahyar Kargar

University of Illinois at Urbana-Champaign - Department of Finance, University of Georgia - Terry College of Business - Department of Finance, Ohio State University (OSU) and University of Illinois at Urbana-Champaign

Downloads 597 (76,428)

Abstract:

13.

Bond Funds and Credit Risk

Downloads 547 (85,238)

2

Bond Funds and Credit Risk

European Corporate Governance Institute – Finance Working Paper No. 639/2019

Number of pages: 81 Posted: 25 Nov 2019 Last Revised: 03 Jul 2023

Jaewon Choi, Amil Dasgupta and Ji Yeol Jimmy Oh

University of Illinois at Urbana-Champaign - Department of Finance, London School of Economics (LSE) and Sungkyunkwan University

Downloads 547 (84,271)

Abstract:

Bond Funds and Credit Risk

CEPR Discussion Paper No. DP14134

Number of pages: 55 Posted: 04 Dec 2019

Jaewon Choi, Amil Dasgupta and Ji Yeol Jimmy Oh

University of Illinois at Urbana-Champaign - Department of Finance, London School of Economics (LSE) and Sungkyunkwan University

Downloads 0

Add to Cart

Abstract:

14.

Mutual Fund Flows and the Supply of Capital in Municipal Financing

Downloads 455 (106,898)

Citation 1

2

Mutual Fund Flows and the Supply of Capital in Municipal Financing

Number of pages: 66 Posted: 23 Nov 2021 Last Revised: 10 Feb 2023

Manuel Adelino, Chiyoung Cheong, Jaewon Choi and Ji Yeol Jimmy Oh

Duke University, City University of Hong Kong, University of Illinois at Urbana-Champaign - Department of Finance and Sungkyunkwan University

Downloads 446 (108,280)

Abstract:

Mutual Fund Flows and the Supply of Capital in Municipal Financing

NBER Working Paper No. w30980

Number of pages: 66 Posted: 20 Feb 2023 Last Revised: 12 Apr 2023

Manuel Adelino, Chiyoung Cheong, Jaewon Choi and Ji Yeol Jimmy Oh

Duke University, City University of Hong Kong, University of Illinois at Urbana-Champaign - Department of Finance and Sungkyunkwan University

Downloads 9 (992,605)

Add to Cart

Abstract:

15.

Why Have Actively Managed Bond Funds Remained Popular?

Number of pages: 73 Posted: 01 Apr 2020 Last Revised: 10 Jul 2023

Jaewon Choi, Martijn Cremers and Timothy B. Riley

University of Illinois at Urbana-Champaign - Department of Finance, University of Notre Dame and University of Arkansas - Department of Finance

Downloads 443 (109,970)

Citation 2

Abstract:

16.

Granularity of Corporate Debt

Number of pages: 46 Posted: 20 Oct 2017 Last Revised: 25 Oct 2017

Jaewon Choi, Dirk Hackbarth and Josef Zechner

University of Illinois at Urbana-Champaign - Department of Finance, Boston University - Questrom School of Business and Vienna University of Economics and Business

Downloads 439 (111,173)

Citation 14

Abstract:

17.

Mutual Fund Flows and Fluctuations in Credit and Business Cycles

Number of pages: 74 Posted: 17 Aug 2016 Last Revised: 14 Oct 2019

Azi Ben-Rephael, Jaewon Choi and Itay Goldstein

Rutgers Business School - Rutgers University, University of Illinois at Urbana-Champaign - Department of Finance and University of Pennsylvania - The Wharton School - Finance Department

Downloads 404 (122,462)

Citation 4

Abstract:

18.

The More Illiquid, The More Expensive: A Search-Based Explanation of the Illiquidity Premium

Number of pages: 49 Posted: 18 Feb 2020 Last Revised: 02 Nov 2020

Jaewon Choi, Jungsuk Han, Sean Seunghun Shin and Ji Hee Yoon

University of Illinois at Urbana-Champaign - Department of Finance, Seoul National University - College of Business Administration, Aalto University - Department of Finance and University College London

Downloads 379 (132,138)

Citation 2

Abstract:

19.

Reaching for Yield and the Cross Section of Bond Returns

forthcoming, Management Science

Number of pages: 48 Posted: 16 Aug 2018 Last Revised: 23 Jan 2023

Qianwen Chen and Jaewon Choi

Shanghai University of Finance and Economics and University of Illinois at Urbana-Champaign - Department of Finance

Downloads 352 (142,906)

Citation 1

Abstract:

20.

Natural Disasters and Municipal Bonds

Downloads 285 (178,781)

Citation 1

2

Natural Disasters and Municipal Bonds

Number of pages: 52 Posted: 30 Dec 2021 Last Revised: 03 Oct 2022

Jun Kyung Auh, Jaewon Choi, Tatyana Deryugina and Tim Park

Yonsei University - School of Business, University of Illinois at Urbana-Champaign - Department of Finance, University of Illinois and The University of Texas at Austin

Downloads 270 (187,901)

Citation 1

Abstract:

Natural Disasters and Municipal Bonds

NBER Working Paper No. w30280

Number of pages: 53 Posted: 25 Jul 2022 Last Revised: 14 Apr 2023

Jun Kyung Auh, Jaewon Choi, Tatyana Deryugina and Tim Park

Yonsei University - School of Business, University of Illinois at Urbana-Champaign - Department of Finance, University of Illinois and Analysis Group

Downloads 15 (930,298)

Citation 1

Add to Cart

Abstract:

21.

Asymmetric Learning from Prices and Post-Earnings Announcement Drift

Downloads 277 (184,057)

2

Asymmetric Learning from Prices and Post-Earnings Announcement Drift

Number of pages: 77 Posted: 20 Nov 2013 Last Revised: 24 Sep 2018

Jaewon Choi, Linh Le and Jared Williams

University of Illinois at Urbana-Champaign - Department of Finance, University of South Florida and University of South Florida

Downloads 277 (183,116)

Abstract:

Asymmetric Learning from Prices and Post-Earnings-Announcement Drift

Contemporary Accounting Research, Forthcoming

Posted: 20 Feb 2019

Jaewon Choi, Linh Le and Jared Williams

University of Illinois at Urbana-Champaign - Department of Finance, University of South Florida and University of South Florida

Abstract:

22.

Credit Risk Model with Lagged Information

Number of pages: 21 Posted: 17 Mar 2012

Jaewon Choi

University of Illinois at Urbana-Champaign - Department of Finance

Downloads 199 (252,977)

Abstract:

23.

Does Foreign Institutional Capital Promote Green Growth for Emerging Market Firms?

Number of pages: 82 Posted: 12 Dec 2022 Last Revised: 03 Apr 2023

Chiyoung Cheong, Jaewon Choi, Sangeun Ha and Ji Yeol Jimmy Oh

City University of Hong Kong, University of Illinois at Urbana-Champaign - Department of Finance, Copenhagen Business School - Department of Finance and Sungkyunkwan University

Downloads 166 (298,065)

Abstract:

24.

Dealer Liquidity Provision and the Breakdown of the Law of One Price: Evidence from the CDS-Bond Basis

Management Science, Forthcoming

Number of pages: 55 Posted: 16 Jan 2018

Jaewon Choi, Or Shachar and Sean Seunghun Shin

University of Illinois at Urbana-Champaign - Department of Finance, Federal Reserve Bank of New York and Aalto University - Department of Finance

Downloads 163 (301,150)

Citation 21

Abstract:

25.

Network-Based Measures of Systemic Risk in Korea

Bank of Korea WP 2020-8

Number of pages: 48 Posted: 30 Mar 2020

Jaewon Choi and Jieun Lee

University of Illinois at Urbana-Champaign - Department of Finance and The Bank of Korea

Downloads 73 (529,151)

Abstract:

26.

Rethinking the Conditional CAPM: The Impact of Financial Leverage

Posted: 09 Aug 2009 Last Revised: 27 Jan 2018

Jaewon Choi

University of Illinois at Urbana-Champaign - Department of Finance

Jaewon Choi

University of Illinois at Urbana-Champaign - Department of Finance

Assistant Professor of Finance

Yonsei University - School of Business

26

Top 3,974

16,326

Top 3,294

403

87

Scholarly Papers (26)

Abstract:

Abstract:

Corporate Debt Maturity Profiles

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Bond Funds and Credit Risk

Abstract:

Abstract:

Mutual Fund Flows and the Supply of Capital in Municipal Financing

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Natural Disasters and Municipal Bonds

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract:

Abstract: