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Hyoung Goo Kang

Hanyang University

School of Business

222 Wangsimniro

Seongdong-gu

Seoul, 133-791

Korea, Republic of (South Korea)

  • Hanyang University

SCHOLARLY PAPERS

36

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6,991

TOTAL CITATIONS
Rank 47,022

SSRN RANKINGS

Top 47,022

in Total Papers Citations

18

Scholarly Papers (36)

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1.

The Effect of Credit Risk on Stock Returns

Journal of Economic Research, Vol. 14, No. 2, pp. 49-67, 2009
Number of pages: 19 Posted: 16 Jun 2009 Last Revised: 18 Apr 2013
ChoongOh Kang and Hyoung Goo Kang
Citigroup Global Markets Japan Inc. and Hanyang University
Downloads 700 (92,764)

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equity return, credit risk, credit ractor, Fama- French Factors, Merton model

2.

The Effect of Market and Nonmarket Competition on Firm and Industry Corporate Social Responsibility

“Sustainability, Stakeholder Governance and Corporate Social Responsibility” Advances in Strategic Management, Vol. 38: 313-337
Number of pages: 40 Posted: 18 Jan 2014 Last Revised: 10 Jun 2020
Olga Hawn and Hyoung Goo Kang
University of North Carolina (UNC) at Chapel Hill - Management-Strategy Area and Hanyang University
Downloads 622 (107,057)
Citation 7

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strategic corporate social responsibility (CSR), market structure, competition, social performance, simulation

3.

Can Big Data Forecast North Korean Military Aggression?

Defence and Peace Economics (Forthcoming)
Number of pages: 50 Posted: 04 Sep 2014 Last Revised: 21 Dec 2016
Y. Han (Andy) Kim, Hyoung Goo Kang and Jong-Kyu Lee
Sungkyunkwan University, Hanyang University and Korea Development Institute (KDI) - Department of North Korean Economy
Downloads 569 (120,556)

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geopolitical risk, North Korea, Big Data, media, textual analysis

4.

Does Pair Trading Work in Korean Market?

Actual Problems in Economics, No. 1, 2012
Number of pages: 9 Posted: 19 Sep 2012
Yung-Gi Hong, Soo-Hyun Kim and Hyoung Goo Kang
Samsung Asset Management, Soongsil University and Hanyang University
Downloads 444 (165,638)

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pair trading, statistical arbitrage, multifactor model, transaction costs

5.

Tactical Asset Allocation Using Investors’ Sentiment

Hitotsubashi Journal of Economics 56(2). 2016. Forthcoming.
Number of pages: 35 Posted: 14 Jan 2011 Last Revised: 15 Oct 2014
Soo-Hyun Kim and Hyoung Goo Kang
Soongsil University and Hanyang University
Downloads 429 (170,764)

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Investor Sentiment, Tactical Asset Allocation, Korean Stock Market, Alpha

6.

How Different Terrorist Attacks Affect Stock Markets

Defence and Peace Economics, Forthcoming
Number of pages: 33 Posted: 27 Jun 2013
Faheem Aslam and Hyoung Goo Kang
Hanyang University - School of Business and Hanyang University
Downloads 378 (197,695)
Citation 2

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Terrorist’s Attack, Event Study, Stock Returns, Karachi Stock Exchange (KSE), Drone Attacks, Geopolitical risk

7.

Multinational Affiliates and Local Financial Markets

Downloads 359 (207,095)
Citation 5

Multinational Affiliates and Local Financial Markets

IMF Working Paper 04-107
Number of pages: 26 Posted: 02 Sep 2004
Alexander Lehmann, Selin Sayek and Hyoung Goo Kang
International Monetary Fund (IMF), Bilkent University - Department of Economics and Hanyang University
Downloads 247 (306,315)
Citation 5

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Multinational companies, financial development, capital structure

Multinational Affiliates and Local Financial Markets

IMF Working Paper No. 04/107
Number of pages: 26 Posted: 15 Feb 2006
Alexander Lehmann and Hyoung Goo Kang
International Monetary Fund (IMF) and Hanyang University
Downloads 112 (634,304)

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Multinational companies, financial development, capital structure

8.

The Effect of Rain on the Decision to Visit a Theme Park

Asia Specific Journal of Tourism Research, 2012
Number of pages: 26 Posted: 19 Sep 2012
Hayeon Joo, Hyoung Goo Kang and Jon Jungbien Moon
Sogang University, Hanyang University and Korea University Business School
Downloads 336 (229,652)

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rain, theme park, weather forecast, pricing, consumer decision making

9.

Refining RBV Valuation: Introducing the Comparable Firm-Finding Algorithm for Enhanced Comparable Company Analysis

Number of pages: 29 Posted: 10 Nov 2021 Last Revised: 03 May 2024
Jaewon Choi and Hyoung Goo Kang
Seoul National University - Department of Economics and Hanyang University
Downloads 295 (261,408)

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valuation, resources, intangibles, regression, venture capital, machine learning.

10.

What Constitutes Too-Big-To-Jail?

Number of pages: 47 Posted: 13 Feb 2018
Hansoo Choi, Hansoo Choi, Changmin Lee and Hyoung Goo Kang
Harvard University - Edmond J. Safra Center for EthicsKIPF (Korea Institute of Public Finance), Hanyang University - School of Business and Hanyang University
Downloads 258 (296,486)
Citation 1

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Business Group, White-Collar Crime, Tunneling, Civil Law, Self-Dealing

11.

Discount or Premium? Diversification, Firm Value, and Capital Budgeting Efficiency

22nd Australasian Finance and Banking Conference 2009
Number of pages: 44 Posted: 23 Aug 2009 Last Revised: 18 Apr 2013
Fei Ding and Hyoung Goo Kang
Hong Kong University of Science & Technology (HKUST) - Department of Finance and Hanyang University
Downloads 249 (307,444)
Citation 1

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focus, diversification, internal capital market, winner picking, socialism

12.

Time-Varying Macroeconomic Exposures in the Indian Stock Market

Journal of South Asian Studies, Vol. 15, No. 1, 2009
Number of pages: 32 Posted: 30 Jul 2009
Hyoung Goo Kang
Hanyang University
Downloads 226 (339,185)

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India, stock market, multifactor model, macroeconomic factors, time-varying factor loadings, equity risk model

13.

사회초년생의 금융적 특성 분석 및 개인재무관리를 위한 정책적 제언 (Analysis of Financial Characteristics of Young Employees and Policy Proposals for Personal Finance)

Financial Planning Review, Vol. 15, No. 3, 2022
Number of pages: 28 Posted: 02 Sep 2022
Jina Lee, Hyoung Goo Kang and Suk-Hwan Kim
Hanyang University, Hanyang University and Hanyang University - School of Business
Downloads 201 (389,821)

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young employees, financial characteristics, personal finance, financial services, policy proposal

14.

How Board Quality Affects CEO and Executive Team Pay

Number of pages: 27 Posted: 06 Jun 2012
Woonam Seok, Changmin Lee and Hyoung Goo Kang
Korea Corporate Governance Service, Hanyang University - Seoul Campus and Hanyang University
Downloads 175 (435,504)

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board of directors, corporate governance, CEO compensation, executive compensation, production and organization, social capital, professional labor market

15.

How Potential Knowledge Spillovers between Venture Capitalists’ Entrepreneurial Projects Affect the Specialization and Diversification of VC Funds When VC Effort Has Value

Number of pages: 20 Posted: 19 Sep 2012
Hyoung Goo Kang, Rich Burton and Will Mitchell
Hanyang University, Duke University - Fuqua School of Business and Duke University - Fuqua School of Business
Downloads 166 (456,852)
Citation 1

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venture capital, diversification, specialization, VC, post-investment effort, knowledge spillover

16.

Who Should Choose the Money Managers? Institutional Sponsors’ Equity Manager Performance

Number of pages: 53 Posted: 05 Jun 2017 Last Revised: 17 Nov 2020
Hyoung Goo Kang, Min-Yeon Han, Sang-Gyung Jun and Ji Yeol Jimmy Oh
Hanyang University, Mirae Asset Global Investments, Hanyang University and Korea University Business School
Downloads 153 (494,203)

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Delegated portfolio management, institutional investors, intermediated investment management, outsourced CIO, investment pool

17.

How to Undertake Apparently Unrelated Diversification and Build an Empire

Actual Problems of Economics. 2013-MAY. 275-286
Number of pages: 20 Posted: 19 Sep 2012 Last Revised: 27 Jun 2013
Hyoung Goo Kang, Jaeseok Jeong and Junghoon Moon
Hanyang University, Kyung Hee University and Seoul National University
Downloads 149 (500,001)

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accumulation, chaebol, diversification, growth, resource-based view, value

18.

Anchoring Effect of Pre-Meeting Vote Disclosures: Evidence from the National Pension Service

Number of pages: 46 Posted: 10 Jan 2022
Jinhyeok Ra, Sun Min Kim, Hyoung Goo Kang and Woochan Kim
Korea University Business School (KUBS), KOREA INSTITUTE OF CORPORATE GOVERNANCE AND SUSTAINABILITY, Hanyang University and Korea University Business School
Downloads 140 (527,599)
Citation 1

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shareholder voting, pre-meeting disclosure, conflicts of interest, asset owner, National Pension Service

19.

AI-Driven Credit Scoring and Market Transformation : How ACSS Reshapes SME Financing, Firm Strategy, and Regulatory Boundaries

Posted on Google Scholar by the AI and Finance Conference after the presentation with the previous title, "Unveiling the Imoact of Alternative Credit Scoring Systems on Small and Medium-sized Enterprises."
Number of pages: 35 Posted: 16 Apr 2025
Ga Young Jang, Hyoung Goo Kang, James Park and Hyung-Suk Choi
California Miramar University, Hanyang University, Independent and Ewha Womans University
Downloads 132 (584,619)

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ACSS, AI, financial innovation, inclusive economy, information asymmetry, SMEs, nonmarket strategy

20.

Stablecoin and Cross-Border Crypto Market Integration

Number of pages: 17 Posted: 09 Sep 2025
Chang Mo Kang, Hyoung Goo Kang, Donghyun Kim and Hong Kee Sul
Hanyang University - School of Business, Hanyang University, Chung-Ang University and Chung-Ang University - College of Business & Economics
Downloads 130 (592,433)

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Stablecoins, Kimchi premium, Bitcoin, Tether, Market efficiency, Crypto market integration

21.

Jeonse-as-a-Sukuk: Why is Korea a hidden champion of Islamic Finance?

Number of pages: 18 Posted: 16 Dec 2024
Hyoung Goo Kang, Mehmet Huseyin Bilgin and Doojin Ryu
Hanyang University, Istanbul Medeniyet University and Sungkyunkwan University
Downloads 115 (640,165)

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22.

No Exaggeration: Truthfulness in the Lobbying of Government Agencies by Competing Interest Groups

Number of pages: 37 Posted: 19 Sep 2012
Hyoung Goo Kang and Thomas T. Holyoke
Hanyang University and affiliation not provided to SSRN
Downloads 101 (689,572)

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interest group, lobbyist, resource allocation, misrepresentation, agency rulemaking, signaling game

23.

Stewardship Code and Shareholder Voting

Number of pages: 58 Posted: 15 Feb 2024
Sun Min Kim, Bonha Koo and Hyoung Goo Kang
KOREA INSTITUTE OF CORPORATE GOVERNANCE AND SUSTAINABILITY, Chungnam National University and Hanyang University
Downloads 89 (753,595)

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stewardship code, shareholder voting, corporate governance, self-selection bias, switching regression

24.

Green finance reform and relationship lending: Evidence from China

Number of pages: 27 Posted: 06 May 2025
Hyoung Goo Kang, Doojin Ryu and Xiaoying Wu
Hanyang University, Sungkyunkwan University and Hanyang University
Downloads 73 (883,195)

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Green finance, Relationship lending, Bank competition, Financial development, Information transparency JEL classification: G21 (Banks, Depository Institutions, Micro Finance Institutions, Mortgages), G28 (Government Policy and Regulation), Q56 (Environment and Development, Environment and Trade, Sustainability, Environmental Accounts and Accounting, Environmental Equity, Population Growth)

25.

Rethinking MM2: Practical insights into tax shields and equity valuation

Number of pages: 7 Posted: 13 Dec 2024
Hyoung Goo Kang and Doojin Ryu
Hanyang University and Sungkyunkwan University
Downloads 69 (916,100)

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Cost of equity, Endogenous variables, Modigliani-Miller propositions, Optimal capital structure, Tax shield JEL Classfication: G32, G31, G34, G35

26.

A complementary valuation model: Integrating growth dynamics and exit multiples

Number of pages: 8 Posted: 13 Dec 2024 Last Revised: 02 Feb 2025
Hyoung Goo Kang and Doojin Ryu
Hanyang University and Sungkyunkwan University
Downloads 63 (980,173)

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Discounted cash flow, Exit multiples, Growth dynamics, Valuation JEL codes: G12, G24

27.

The Limitations of the Investor Information Confirmation Form in Capturing Investor Risk Propensity: An Empirical Study Form South Korea

Number of pages: 19 Posted: 21 Feb 2024
Hyoung Goo Kang, Jungran Kim and Bonha Koo
Hanyang University, Hanyang University and Chungnam National University
Downloads 61 (961,006)

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Investor Information Confirmation Form (BRA), Risk Propensity, Financial Consumer Protection Laws, Economic Risk Attitude (ERA), Instrumental Risk Taking (IRT), Stimulating Risk Taking (SRT)

28.

Signaling in the Supply Chain: Can Climate Risk Disclosure Mitigate the Bullwhip Effect? Evidence from China 

Number of pages: 28 Posted: 31 Oct 2025
Han Sun, Hyoung Goo Kang, Geng Huang and JaeHo Lee
Hanyang University, Hanyang University, Sungkyunkwan University and Hanyang University
Downloads 59 (1,031,043)

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： Climate Risk Disclosure, Bullwhip Effect, Information Asymmetry, Corporate Governance, Operational Resilience

29.

The Limitations of the Investor Information Confirmation Form in Capturing Investor Risk Propensity

Number of pages: 23 Posted: 24 Jul 2024
Hyoung Goo Kang, Jungran Kim and Bonha Koo
Hanyang University, Chungnam National University and Chungnam National University
Downloads 55 (1,041,696)

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Investor Information Confirmation Form (BRA), Risk Propensity, Financial Consumer Protection Laws, Economic Risk Attitude (ERA), Instrumental Risk Taking (IRT), Stimulating Risk Taking (SRT)

30.

The Boundaries of Mm2: An Exploration of Equity Value Indeterminacy

Number of pages: 10 Posted: 13 Mar 2024
Hyoung Goo Kang
Hanyang University
Downloads 50 (1,063,489)

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Modigliani-Miller Proposition II, Cost of equity, Tax shield, Optimal capital structure, Endogenous variables.

31.

A Model Sustainability-Linked Convertible (SLC) Agreement as a Formal Relational Contract

Number of pages: 21 Posted: 03 Jan 2025
Hyoung Goo Kang and Joon Hyug Chung
Hanyang University and Seoul National University School of Law
Downloads 48 (1,109,210)

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Sustainability-Linked Convertible (SLC), ESG, Formal Relational Contract, Incomplete Contract, Convertible Bonds, Sustainable Finance

32.

The First Analyst Matters: An Extensive-Margin Coverage Threshold in Disagreement Pricing

Number of pages: 23 Posted: 01 Apr 2026
Hyeon-Seong KIM, Hyoung Goo Kang and byungsuk Han
Hanyang University, Hanyang University and Hanyang University
Downloads 26 (1,448,301)

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Disagreement Pricing, Analyst Coverage, Extensive Margin, Machine Forecast Disagreement (MFD), Information Intermediaries

33.

Artist-centric streaming payments as diagonal reweighting: invariance and bounds

Number of pages: 8 Posted: 21 Jan 2026
Je Hyun BAE, Eun Jung Shin and Hyoung Goo Kang
Hanyang University, affiliation not provided to SSRN and Hanyang University
Downloads 24 (1,470,786)

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Streaming, Revenue sharing, Artist-centric, Weighted pro-rata, Normalization

34.

AI Model Concentration and Price Impact in a Kyle Auction

Number of pages: 4 Posted: 26 Jun 2026
Hyoung Goo Kang
Hanyang University
Downloads 19

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Market microstructureKyle modelartificial intelligencemodel concentrationprice impactorder flowinsider trading

35.

Internal Strategic Resource Markets: Toward a Theory of Digital Diversification

Number of pages: 35 Posted: 01 Apr 2026
Ga Young Jang and Hyoung Goo Kang
California Miramar University and Hanyang University
Downloads 19 (1,526,714)

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competitive advantage, diversification, internal markets, Transaction Costs

36.

Pre-announcement trading and share repurchase announcement returns: Evidence from China’s post-2018 repurchase reform

Number of pages: 34 Posted: 14 Jul 2026
Xiaoying Wu, Hyoung Goo Kang and Doojin Ryu
Hanyang University, Hanyang University and Sungkyunkwan University
Downloads 9

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Announcement returns, Share repurchases, Trading states, Repurchase execution, China