Seyoung Park

Nottingham University Business School

Associate Professor of Finance, Risk and Banking

Nottingham University Business School

Jubilee Campus

Nottingham

United Kingdom

  • Nottingham University Business School

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    • Tel: +44-7927-494518
SCHOLARLY PAPERS

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Scholarly Papers (19)

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1.

Optimal Retirement with Borrowing Constraints and Forced Unemployment Risk

Number of pages: 49 Posted: 02 May 2014 Last Revised: 26 May 2019
Bong-Gyu Jang, Seyoung Park and Huainan Zhao
Pohang University of Science and Technology (POSTECH), Nottingham University Business School and Loughborough University - School of Business and Economics
Downloads 148 (207,894)

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optimal retirement, forced unemployment risk, borrowing constraints, dynamic programming

2.

Optimal Portfolio Choice for Early Retirement with Cointegration between the Stock and Labor Markets

Number of pages: 61 Posted: 16 Mar 2017 Last Revised: 15 Nov 2017
Min Dai, Shan Huang and Seyoung Park
National University of Singapore (NUS) - Department of Mathematics, National University of Singapore (NUS) and Nottingham University Business School
Downloads 137 (221,284)
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Optimal Consumption, Optimal Investment, Retirement, Cointegration, Income Risks

3.

Industry Portfolio Allocation with Asymmetric Correlations

Number of pages: 26 Posted: 07 Nov 2015 Last Revised: 11 Dec 2017
Myeong Hyeon Kim and Seyoung Park
Seoul National University of Science and Technology and Nottingham University Business School
Downloads 110 (260,628)

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Optimal portfolio; Dynamic and asymmetric correlation, Systematic risk

4.

Liquidity Premia, Transaction Costs, and Model Misspecification

Number of pages: 43 Posted: 10 Mar 2014 Last Revised: 11 Jun 2015
Bong-Gyu Jang, Seungkyu Lee and Seyoung Park
Pohang University of Science and Technology (POSTECH), Pohang University of Science and Technology (POSTECH) - Dept. of Industrial and Management Engineering and Nottingham University Business School
Downloads 100 (278,588)

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liquidity, robust portfolio, ambiguitiy, fund manager, transaction cost

5.

Entrepreneurial Business Plan Under Undiversifiable Idiosyncratic Risk

Number of pages: 52 Posted: 20 Apr 2015
Bong-Gyu Jang, Hyun-Tak Lee and Seyoung Park
Pohang University of Science and Technology (POSTECH), Risk Management Institute (RMI), National University of Singapore (NUS) and Nottingham University Business School
Downloads 79 (322,712)

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optimal consumption, optimal portfolio, entrepreneurial business, idiosyncratic risk, risky business

6.

Optimal Investment with Time-Varying Transition Probabilities for Regime Switching

Number of pages: 21 Posted: 01 Feb 2016 Last Revised: 13 Dec 2017
Hyo-Chan Lee, Seyoung Park and Jong Mun Yoon
The Credit Finance Association of Korea (CREFIA), Nottingham University Business School and The Credit Finance Association of Korea (CREFIA)
Downloads 64 (362,400)

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optimal investment, time-varying transition probabilities, regime switching, cash flows, option

7.

Employment Growth, Liquidity Risk, and the Cross-section of Stock Returns

Number of pages: 51 Posted: 04 Feb 2019 Last Revised: 26 May 2019
Weimin Liu, Di Luo, Seyoung Park and Huainan Zhao
Nottingham University Business School, University of Southampton, Nottingham University Business School and Loughborough University - School of Business and Economics
Downloads 62 (368,402)

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Employment growth premium; Liquidity risk; Labor hiring

8.

A Life-Cycle Model for Income Risk Management

Downloads 48 (414,403)

A Life-Cycle Model for Income Risk Management

Number of pages: 77 Posted: 01 May 2018 Last Revised: 09 Aug 2018
Seyoung Park
Nottingham University Business School
Downloads 30 (503,379)

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Income Risk, Incomplete Market, Life-Cycle Model, Optimal Consumption and Investment

A New Science of Finance for Addressing the Challenge of Uncertainty: Thoughts on the Future

Number of pages: 87 Posted: 13 Jun 2018
Seyoung Park
Nottingham University Business School
Downloads 18 (580,003)

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Uncertainty, Decision Model, Anomalies, General Equilibrium

9.

Marginal Propensity to Consume with a Negative Wealth Constraint

Number of pages: 17 Posted: 21 Aug 2016 Last Revised: 18 Nov 2017
Seyoung Park and Jong Mun Yoon
Nottingham University Business School and The Credit Finance Association of Korea (CREFIA)
Downloads 48 (414,403)

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optimal consumption, wealth, marginal propensity to consume, negative wealth constraint

10.

Addressing the Challenge of Annuity Income Uncertainty: A Dynamic Annuitization Strategy

Number of pages: 23 Posted: 09 Aug 2017 Last Revised: 23 Feb 2018
Seyoung Park
Nottingham University Business School
Downloads 45 (425,621)

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Dynamic Annuitization, Consumption, Saving, Investment, Annuity Income Uncertainty

11.

Verification Theorems for Optimal Consumption and Investment Problems with Annuitization

Number of pages: 19 Posted: 25 Feb 2016 Last Revised: 11 Dec 2017
Seyoung Park
Nottingham University Business School
Downloads 43 (433,297)

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annuitization, existence, uniqueness, variational inequality

12.

Using Insurance Instruments to Improve Disaster Risk Finance in Indonesia

Number of pages: 26 Posted: 02 Apr 2019 Last Revised: 10 Mar 2020
Chusu He, John Hillier, Alistair Milne, Seyoung Park and Robby Soetanto
Loughborough University, Loughborough University, Loughborough University - School of Business and Economics, Nottingham University Business School and Loughborough University
Downloads 32 (485,324)

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Captive insurance, catastrophe insurance, catastrophe modelling, community mapping, disaster planning, economic capital, flooding, insurance, loss distribution, loss simulation, disasters, spatial data infrastructures, risk transfer instruments, transaction costs

13.

A Generalization of Ramsey Rule on Discount Rate with Regime Switching

Economics Letters, Forthcoming
Posted: 08 Feb 2017 Last Revised: 17 Jun 2018
Seyoung Park
Nottingham University Business School

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discount rate, regime switching, equilibrium

14.

How to Consume and Invest for Retirement: Revisiting Friedman's Permanent Income Hypothesis

Forthcoming in Retirement: Key Issues, Challenges and Opportunities
Posted: 30 Aug 2016 Last Revised: 12 Oct 2016
Seyoung Park
Nottingham University Business School

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consumption, investment, permanent income hypothesis (PIH), retirement, borrowing constraints

15.

A Generalization of Yaari's Result on Annuitization with Optimal Retirement

Economics Letters, Vol. 137, 2015
Posted: 02 Aug 2015 Last Revised: 10 Nov 2015
Seyoung Park
Nottingham University Business School

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optimal annuitization, critical wealth level, option, leisure

16.

Ambiguity and Optimal Portfolio Choice with Value-at-Risk Constraint

Finance Research Letters, Forthcoming
Posted: 10 May 2014 Last Revised: 08 Apr 2016
Bong-Gyu Jang and Seyoung Park
Pohang University of Science and Technology (POSTECH) and Nottingham University Business School

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ambiguity aversion, optimal portfolio, value at risk, expected shortfall, fund management

17.

Unemployment Risks and Optimal Retirement in an Incomplete Market

Operations Research, Forthcoming
Posted: 20 Jan 2013 Last Revised: 06 Mar 2016
Alain Bensoussan, Bong-Gyu Jang and Seyoung Park
University of Texas at Dallas - Naveen Jindal School of Management, Pohang University of Science and Technology (POSTECH) and Nottingham University Business School

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unemployment risk, optimal retirement, optimal investment, portfolio theory, dynamic programming, convex duality

18.

Optimal Retirement with Unemployment Risks

Journal of Banking and Finance, Vol 37, Issue 9
Posted: 20 Aug 2011 Last Revised: 22 Jul 2013
Bong-Gyu Jang, Seyoung Park and Yuna Rhee
Pohang University of Science and Technology (POSTECH), Nottingham University Business School and Pohang University of Science and Technology (POSTECH)

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unemployment risk, involuntary retirement, optimal retirement, moderate equity holdings, retirement consumption puzzle

19.

Optimal Consumption and Investment with Insurer Default Risk

Insurance: Mathematics and Economics, Forthcoming
Posted: 14 Jul 2008 Last Revised: 12 May 2019
Bong-Gyu Jang, Hyeng Keun Koo and Seyoung Park
Pohang University of Science and Technology (POSTECH), Ajou University and Nottingham University Business School

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optimal consumption, optimal investment, insurer default risk, annuity demand