Dong Wook Lee

Korea University

Professor of Finance

523 Hyundai Motor Hall

Korea University Business School

Seoul, 02841

Korea, Republic of (South Korea)

SCHOLARLY PAPERS

26

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4,775

SSRN CITATIONS
Rank 9,127

SSRN RANKINGS

Top 9,127

in Total Papers Citations

45

CROSSREF CITATIONS

123

Scholarly Papers (26)

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 612 (75,359)
Citation 4

Abstract:

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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: 30 Jul 2022
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 92 (478,042)
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 662 (69,092)
Citation 10

Abstract:

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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 620 (75,078)
Citation 3

Abstract:

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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 568 (82,732)

Abstract:

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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 Last Revised: 20 Feb 2022
Dong Wook Lee, Hyun-Han Shin and René Stulz
Korea University, Yonsei University and Ohio State University (OSU) - Fisher College of Business
Downloads 51 (663,436)

Abstract:

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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 360 (143,429)
Citation 2

Abstract:

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Governance, Firm value, Endogeneity, Korean Corporate Governance Fund

6.

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 324 (160,664)
Citation 3

Abstract:

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

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 267 (195,310)

Abstract:

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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 54 (645,680)

Abstract:

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

8.

Why Does Equity Capital Flow Out of High Tobin’s q Industries?

Fisher College of Business Working Paper No. 2020-03-002, Charles A. Dice Center Working Paper No. 2020-02
Number of pages: 58 Posted: 12 Feb 2020
Dong Wook Lee, Hyun-Han Shin and René M. Stulz
Korea University, Yonsei University and Ohio State University (OSU) - Department of Finance
Downloads 297 (176,618)
Citation 11

Abstract:

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

9.

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 246 (212,917)
Citation 2

Abstract:

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category model, spillover effect, REITs, stock market index

10.

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
Korea UniversityDong-A University Business School, Korea University and Korea University - Department of Finance
Downloads 181 (282,745)
Citation 4

Abstract:

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

11.

Can swap basis predict foreign exchange rate? Evidence from Korea

Number of pages: 44 Posted: 09 Feb 2022
Dong Wook Lee and Eun-young Shin
Korea University and Korea University
Downloads 127 (377,558)

Abstract:

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Swap Basis, Foreign exchange, CIP, Forecast, Korea

12.

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, Lingxia Sun and Dong Wook Lee
Nankai University - Business SchoolSun Yat-sen University (SYSU) - ISBF and Korea University
Downloads 81 (512,379)

Abstract:

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Dollar-weighted return; Parity; Convergence; Financial openness

13.

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 74 (539,999)

Abstract:

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

14.

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, Lingxia Sun and Lingxia Sun
Korea University and Nankai University - Business SchoolSun Yat-sen University (SYSU) - ISBF
Downloads 67 (569,899)

Abstract:

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Financial globalization; Indirect benefits; Firm size; Growth opportunities

15.

The Role of Second-tier Exchange in Corporate Valuation: Evidence from Korea

Number of pages: 52 Posted: 18 Feb 2021 Last Revised: 12 Jul 2021
Heejung Choi and Dong Wook Lee
Sunmoon university and Korea University
Downloads 49 (661,350)
Citation 1

Abstract:

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Second-tier exchange, Valuation, Growth, Cashflow, Dividend, Intangibles, Korea

16.

What Explains Cross-Country Difference in Corporate Valuations? Growth Opportunities or Profitability?

Number of pages: 46 Posted: 12 Aug 2021 Last Revised: 04 Oct 2021
Dong Wook Lee, Lingxia Sun and Lingxia Sun
Korea University and Nankai University - Business SchoolSun Yat-sen University (SYSU) - ISBF
Downloads 40 (718,034)

Abstract:

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Country-wide valuation; Growth opportunities; Free cashflow; Functional efficiency

17.

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

International Review of Finance, 2016
Number of pages: 54 Posted: 10 Jan 2015 Last Revised: 18 Oct 2023
Lingxia Sun, Lingxia Sun and Dong Wook Lee
Nankai University - Business SchoolSun Yat-sen University (SYSU) - ISBF and Korea University
Downloads 3 (1,031,510)

Abstract:

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Foreign investors, Factor loadings, Idiosyncratic volatility, Korea

18.

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

19.

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

20.

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

21.

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

22.

Short Selling by Individual Investors: Destabilizing or Price Discovering?

Pacific-Basin Finance Journal, Vol. 21, No. 1, 2013
Posted: 08 Apr 2013
Korea UniversityDong-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

23.

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

24.

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

25.

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
Korea UniversityDong-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

26.

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