Dong Wook Lee

Korea University

Associate Professor of Finance

1 Anam-dong 5 ka

Seoul, 136-701

Korea, Republic of (South Korea)

SCHOLARLY PAPERS

22

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3,664

SSRN CITATIONS
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Top 6,813

in Total Papers Citations

8

CROSSREF CITATIONS

136

Scholarly Papers (22)

1.
Downloads 651 ( 39,327)
Citation 44

U.S. Banks, Crises, and Bailouts: From Mexico to Ltcm

Number of pages: 26 Posted: 29 Feb 2000
Bong-Chan Kho, Dong Wook Lee and René M. Stulz
Seoul National University, Business School, Korea University and Ohio State University (OSU) - Department of Finance
Downloads 588 (44,495)
Citation 2

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U.S. Banks, Crises, and Bailouts: From Mexico to Ltcm

NBER Working Paper No. w7529
Number of pages: 26 Posted: 11 Jun 2000 Last Revised: 15 Oct 2010
Bong-Chan Kho, Dong Wook Lee and René M. Stulz
Seoul National University, Business School, Korea University and Ohio State University (OSU) - Department of Finance
Downloads 63 (352,813)
Citation 3

Abstract:

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2.

Why Does Shareholder Wealth Increase When Non-U.S. Firms Announce Their Listing in the U.S.?

Number of pages: 54 Posted: 29 Jul 2003
Dong Wook Lee
Korea University
Downloads 629 (41,219)
Citation 9

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Cross-listings, ADRs

3.

Does More Information in Stock Price Lead to Greater or Smaller Idiosyncratic Return Volatility?

Journal of Banking and Finance, Forthcoming
Number of pages: 61 Posted: 25 Mar 2008 Last Revised: 14 Nov 2010
Dong Wook Lee and Mark H. Liu
Korea University and University of Kentucky - Gatton College of Business and Economics
Downloads 582 (45,681)
Citation 1

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idiosyncratic volatility, noisy rational expectations equilibrium, price informativeness

Why Does Capital No Longer Flow More to the Industries with the Best Growth Opportunities?

Fisher College of Business Working Paper No. 2016-03-15, Charles A. Dice Center Working Paper No. 2016-15
Number of pages: 55 Posted: 16 Sep 2016 Last Revised: 05 Dec 2016
Dong Wook Lee, Hyun-Han Shin and René M. Stulz
Korea University, Yonsei University and Ohio State University (OSU) - Department of Finance
Downloads 442 (63,908)

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capital markets, investment, industry, equity flows, debt flows, external finance, equity repurchases, Tobin’s q

Why Does Capital No Longer Flow More to the Industries with the Best Growth Opportunities?

NBER Working Paper No. w22924
Number of pages: 55 Posted: 12 Dec 2016
Dong Wook Lee, Hyun-Han Shin and René Stulz
Korea University, Yonsei University and Ohio State University (OSU) - Fisher College of Business
Downloads 28 (490,823)

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5.

Does Institutional Activism Increase Shareholder Wealth?: Evidence from Spillovers on Non-Target Companies

Journal of Corporate Finance, pp. 488-504, 2009
Number of pages: 43 Posted: 16 Jul 2007 Last Revised: 24 May 2011
Dong Wook Lee and Kyung Suh Park
Korea University and Korea University - Department of Finance
Downloads 331 (90,539)

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Governance, Firm value, Endogeneity, Korean Corporate Governance Fund

Does a Firm's Takeover Vulnerability Cause its Stock Price to Deviate from Random Walks?

Number of pages: 41 Posted: 28 Sep 2005 Last Revised: 13 Apr 2013
Joon Chae, Dong Wook Lee and Shu-Feng Wang
Seoul National University, Korea University and National Central University, Department of Finance
Downloads 231 (131,885)

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Takeover vulnerability, Noise trading, Information environment, Random Walk, Variance ratio

Does a Firm's Takeover Vulnerability Cause Its Stock Price to Deviate from Random Walks?

Number of pages: 41 Posted: 14 Mar 2011
Joon Chae, Dong Wook Lee and Shu-Feng Wang
Seoul National University, Korea University and National Central University, Department of Finance
Downloads 34 (460,112)

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Takeover vulnerability, Noise trading, Information environment, Random Walk, Variance ratio

Comovement after Joining an Index: Spillovers of Nonfundamental Effects

Number of pages: 49 Posted: 17 Jun 2004
Brent W. Ambrose, Dong Wook Lee and Joe Peek
Pennsylvania State University, Korea University and Federal Reserve Banks - Federal Reserve Bank of Boston
Downloads 226 (134,768)
Citation 2

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category model, spillover effect, REITs, stock market index

Comovement after Joining an Index: Spillovers of Nonfundamental Effects

Real Estate Economics, Vol. 35, No. 1, pp. 57-90, Spring 2007
Number of pages: 34 Posted: 16 Feb 2007
Brent W. Ambrose, Dong Wook Lee and Joe Peek
Pennsylvania State University, Korea University and Federal Reserve Banks - Federal Reserve Bank of Boston
Downloads 33 (464,868)
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8.

Does Capital Flow More to High Tobin's Q Industries?

Fisher College of Business Working Paper No. 2018-03-008, Charles A. Dice Center Working Paper No. 2018-8
Number of pages: 51 Posted: 09 May 2018
Dong Wook Lee, Hyun-Han Shin and René M. Stulz
Korea University, Yonsei University and Ohio State University (OSU) - Department of Finance
Downloads 169 (177,654)
Citation 2

Abstract:

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capital markets, investment, industry, equity flows, debt flows, external finance, equity repurchases, Tobin’s q

9.

Can Investor Heterogeneity be Used to Explain the Cross-Section of Average Stock Returns in Emerging Markets?

Number of pages: 48 Posted: 04 Feb 2010
Chan Shik Jung, Dong Wook Lee and Kyung Suh Park
Dong-A University Business School, Korea University and Korea University - Department of Finance
Downloads 140 (206,695)
Citation 2

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investor heterogeneity, emerging market, multivariate proxies for tangency portfolio, factor model

10.

Dollar-Weighted Return on Aggregate Corporate Sector: How is it Distributed Across Countries?

31st Australasian Finance and Banking Conference 2018
Number of pages: 42 Posted: 30 Jul 2018 Last Revised: 10 Sep 2018
Lingxia Sun and Dong Wook Lee
Nankai University - Business School and Korea University
Downloads 68 (334,543)

Abstract:

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Dollar-weighted return; Parity; Convergence; Financial openness

11.

Do Non-Executive Employees Have Private Information that is Relevant to Outside Investors?

Number of pages: 39 Posted: 26 Aug 2005
Dong Wook Lee
Korea University
Downloads 62 (350,923)

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Non-executive employees, outside investors, private information, stock option exchange program

12.

Indirect Benefits of Financial Globalization: Evidence from Small Firms’ Growth Opportunities

Number of pages: 48 Posted: 02 Feb 2016 Last Revised: 30 Jan 2017
Dong Wook Lee and Lingxia Sun
Korea University and Nankai University - Business School
Downloads 38 (432,680)

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Financial globalization; Indirect benefits; Firm size; Growth opportunities

13.

The Role of the Temporary Component in Spot Prices in the Revision of Expected Future Spot Prices: Evidence from Index Futures Quotes

The Journal of Futures Markets, Vol. 32, No. 3, 230–251 (2012)
Posted: 28 Jan 2016
University of Seoul, College of Business Administration, Korea University, Hanyang University and Korea University - Department of Finance

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Foreign investors, Temporary component, Extrapolative expectations, Index futures

14.

The Role of Trading Volume in the 'Volatility Puzzle'

Asia-Pacific Journal of Financial Studies (2015) 44, 783–809
Posted: 27 Jan 2016
Dong Wook Lee
Korea University

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Volatility puzzle, Trading volume, Parameter uncertainty, Convexity

Factor Exposures of Foreign Equity Capital in a Domestic Stock Market: Evidence from Korea

International Review of Finance, Vol. 17, Issue 4, pp. 561-596, 2017
Number of pages: 36 Posted: 07 Dec 2017
Lingxia Sun and Dong Wook Lee
Nankai University - Business School and Korea University
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Factor Exposures of Foreign Equity Capital in a Domestic Stock Market: Evidence from Korea

International Review of Finance, 2016
Posted: 10 Jan 2015 Last Revised: 16 Aug 2017
Lingxia Sun and Dong Wook Lee
Nankai University - Business School and Korea University

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Foreign investors, Factor loadings, Idiosyncratic volatility, Korea

16.

Stock Return Commonality within Business Groups: Fundamentals or Sentiment?

Pacific-Basin Finance Journal, Volume 35, Part A, November 2015, Pages 198-224
Posted: 30 Jan 2014 Last Revised: 29 Sep 2016
Min-Su Kim, Woojin Kim and Dong Wook Lee
Korea University, Seoul National University - Business School and Korea University

Abstract:

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Return commonality; Business group; Corporate governance; Category/Habitat trading; Korea

17.

Takeover Vulnerability and the Behavior of Short-Term Stock Returns

Journal of Corporate Finance, Forthcoming
Posted: 14 Apr 2013
Joon Chae, Dong Wook Lee and Shu-Feng Wang
Seoul National University, Korea University and National Central University, Department of Finance

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Takeover vulnerability, Short-term price reversal, Overreaction, Price concession

18.

Short Selling by Individual Investors: Destabilizing or Price Discovering?

Pacific-Basin Finance Journal, Vol. 21, No. 1, 2013
Posted: 08 Apr 2013
Chan Shik Jung, Woojin Kim and Dong Wook Lee
Dong-A University Business School, Seoul National University - Business School and Korea University

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Short sale, Individual investors, Korean stock market, Pricing efficiency, Destabilizing

19.

Does Institutional Activism Increase Shareholder Wealth? Evidence from Spillovers on Non-Target Companies

Journal of Corporate Finance, Vol. 15, No. 4, 2009
Posted: 07 Feb 2010 Last Revised: 22 Feb 2010
Kyung Suh Park and Dong Wook Lee
Korea University - Department of Finance and Korea University

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Institutional activism, Shareholder wealth, Spillovers, Korea corporate governance fund

20.

How Do Employees View Their Underwater Stock Options? Evidence from the Stock Option Exchange Program

Journal of Financial Services Research, Vol. 35, No. 3, 2009
Posted: 07 Feb 2010 Last Revised: 20 Feb 2010
Dong Wook Lee
Korea University

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Non-executive employees, Employee stock options, Stock option exchange program, 6&1 repricing, Participation decisions

21.

Can Investor Heterogeneity Be Used to Explain the Cross-Section of Average Stock Returns in Emerging Markets

Journal of International Money and Finance, Vol. 28, No. 4, 2009
Posted: 05 Feb 2010
Chan Shik Jung, Dong Wook Lee and Kyung Suh Park
Dong-A University Business School, Korea University and Korea University - Department of Finance

Abstract:

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Investor heterogeneity, Emerging market, Multivariate proxies for tangency portfolio, Factor model

22.

Does the Difference in Valuation Between Domestic and Foreign Investors Help Explain Their Distinct Holdings of Domestic Stocks (formerly, Do Different Interpretations of the Same Information Help Explain the Home Bias)

Journal of Banking and Finance, Forthcoming
Posted: 19 Jan 2009 Last Revised: 14 Feb 2010
Hyung Cheol Kang, Dong Wook Lee and Kyung Suh Park
University of Seoul, College of Business Administration, Korea University and Korea University - Department of Finance

Abstract:

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Investor heterogeneity, Foreign investors, Valuation difference, Domestic stock holdings