Hayong Yun

Michigan State University - Department of Finance

667 N Shaw Lane, Room 339

East Lansing, MI 48824-1122

United States

http://https://sites.google.com/view/hayongyun/

  • Michigan State University - Department of Finance

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    • Tel: 517-884-0549
SCHOLARLY PAPERS

22

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SSRN CITATIONS
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Top 7,421

in Total Papers Citations

182

CROSSREF CITATIONS

60

Scholarly Papers (22)

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1.

Matching Bankruptcy Laws to Legal Environments

Downloads 1,458 (25,987)

Matching Bankruptcy Laws to Legal Environments

Number of pages: 33 Posted: 04 Nov 2004
Kenneth Ayotte and Hayong Yun
University of California, Berkeley - School of Law and Michigan State University - Department of Finance
Downloads 1,458 (25,531)
Citation 9

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Bankruptcy, investor protection, law and finance

Matching Bankruptcy Laws to Legal Environments

The Journal of Law, Economics, & Organization, Vol. 25, Issue 1, pp. 2-30, 2009
Posted: 13 Apr 2009
Kenneth Ayotte and Hayong Yun
University of California, Berkeley - School of Law and Michigan State University - Department of Finance

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2.

Risk Management and Firm Value: Evidence from Weather Derivatives

AFA 2010 Atlanta Meetings Paper
Number of pages: 49 Posted: 11 Mar 2009 Last Revised: 20 Mar 2015
Francisco Perez-Gonzalez and Hayong Yun
National Bureau of Economic Research (NBER) and Michigan State University - Department of Finance
Downloads 1,078 (40,356)
Citation 36

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risk management, hedging, derivatives, firm value, capital structure, debt policy, weather risk

3.

The Choice of Corporate Liquidity and Corporate Governance

Downloads 805 (60,522)

The Choice of Corporate Liquidity and Corporate Governance

Number of pages: 48 Posted: 06 Mar 2006
Hayong Yun
Michigan State University - Department of Finance
Downloads 805 (59,635)
Citation 36

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corporate liquidity, corporate governance, cash holdings, lines of credit

The Choice of Corporate Liquidity and Corporate Governance

The Review of Financial Studies, Vol. 22, Issue 4, pp. 1447-1475, 2009
Posted: 23 Mar 2009
Hayong Yun
Michigan State University - Department of Finance

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G32, G34

4.

Electricity Consumption and Asset Prices

Downloads 561 (96,164)
Citation 9

Electricity Consumption and Asset Prices

Number of pages: 57 Posted: 15 May 2010 Last Revised: 27 Sep 2010
Zhi Da and Hayong Yun
University of Notre Dame - Mendoza College of Business and Michigan State University - Department of Finance
Downloads 370 (155,512)
Citation 10

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Consumption-based Capital Asset Pricing Model (CCAPM), electricity consumption, return predictability.

Electricity Consumption and Asset Prices

Number of pages: 51 Posted: 15 Mar 2011
Zhi Da and Hayong Yun
University of Notre Dame - Mendoza College of Business and Michigan State University - Department of Finance
Downloads 191 (305,161)
Citation 2

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Consumption-based Capital Asset Pricing Model (CCAPM), electricity consumption, return predictability

5.

Negative Hedging: Performance Sensitive Debt and CEOs' Equity Incentives

Downloads 541 (100,737)
Citation 22

Negative Hedging: Performance Sensitive Debt and CEOs' Equity Incentives

Number of pages: 43 Posted: 21 Aug 2007 Last Revised: 11 Dec 2007
Alexei Tchistyi, David Yermack and Hayong Yun
Cornell SC Johnson College of Business, New York University (NYU) - Stern School of Business and Michigan State University - Department of Finance
Downloads 332 (175,669)
Citation 4

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Performance sensitive debt; equity compensation

Negative Hedging: Performance Sensitive Debt and CEOs' Equity Incentives

NYU Working Paper No. FIN-07-043
Number of pages: 54 Posted: 13 Nov 2008 Last Revised: 23 Sep 2009
Alexei Tchistyi, David Yermack and Hayong Yun
Cornell SC Johnson College of Business, New York University (NYU) - Stern School of Business and Michigan State University - Department of Finance
Downloads 209 (279,355)
Citation 5

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Performance sensitive debt, equity compensation

6.

A Wolf in Sheep's Clothing: The Use of Ethics-Related Terms in 10-K Reports

Number of pages: 26 Posted: 21 Aug 2007
Tim Loughran, Bill McDonald and Hayong Yun
University of Notre Dame, University of Notre Dame - Mendoza College of Business - Department of Finance and Michigan State University - Department of Finance
Downloads 523 (105,434)
Citation 11

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ethics, 10-K filings

7.

Liquidity Backstop, Corporate Borrowings, and Real Effects

Number of pages: 52 Posted: 18 Jun 2009 Last Revised: 30 Jun 2012
Pengjie Gao and Hayong Yun
University of Notre Dame - Mendoza College of Business and Michigan State University - Department of Finance
Downloads 489 (113,540)
Citation 2

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public liquidity, commercial paper, real effects, financial crisis, transmission channel.

8.

Insurance Companies and the Propagation of Liquidity Shocks to the Real Economy

Downloads 331 (176,978)

Insurance Companies and the Propagation of Liquidity Shocks to the Real Economy

Number of pages: 50 Posted: 26 Aug 2020 Last Revised: 29 Jun 2023
Yubo Liu, Stefano Rossi and Hayong Yun
Xiamen University, Bocconi University and Michigan State University - Department of Finance
Downloads 331 (175,669)

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insurance companies, market liquidity, natural disasters, fire sales, reinsurance, public and private investment

Insurance Companies and the Propagation of Liquidity Shocks to the Real Economy

CEPR Discussion Paper No. DP16322
Number of pages: 125 Posted: 14 Jul 2021
Yubo Liu, Stefano Rossi and Hayong Yun
Xiamen University, Bocconi University and Michigan State University - Department of Finance
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9.

Passive Shareholders as a Takeover Defense

Swiss Finance Institute Research Paper No. 10-56
Number of pages: 47 Posted: 02 Feb 2011 Last Revised: 16 Mar 2011
Andriy Bodnaruk, Pengjie Gao, Per Östberg and Hayong Yun
University of Illinois at Chicago, University of Notre Dame - Mendoza College of Business, University of Zurich - Department of Banking and Finance and Michigan State University - Department of Finance
Downloads 323 (181,691)
Citation 3

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Mergers and Acquisitions, Ownership Structure and Corporate Governance

10.

Fiscal Policy, Consumption Risk, and Stock Returns: Evidence from US States

Number of pages: 44 Posted: 14 Mar 2012 Last Revised: 03 Jun 2016
Zhi Da, Mitch Warachka and Hayong Yun
University of Notre Dame - Mendoza College of Business, Chapman University - The George L. Argyros College of Business and Economics and Michigan State University - Department of Finance
Downloads 291 (202,800)
Citation 2

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Fiscal Policy, Consumption, Stock Returns

11.

Family Feud: Succession Tournaments and Risk-taking in Family Firms

11th Annual Mid-Atlantic Research Conference in Finance (MARC)
Number of pages: 68 Posted: 14 Dec 2015 Last Revised: 14 May 2022
Jongsub Lee, Hojong Shin and Hayong Yun
Seoul National University, California State University, Long Beach and Michigan State University - Department of Finance
Downloads 266 (222,204)
Citation 2

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succession tournaments, business group, risk shifting, family composition, sons, daughters, sons-in-law, sudden death of a group chairman, inheritance law

12.

Liquidity Backstop, Corporate Borrowings, and Real Effects

AFA 2013 San Diego Meetings Paper
Number of pages: 69 Posted: 16 Mar 2012 Last Revised: 14 Aug 2013
Pengjie Gao and Hayong Yun
University of Notre Dame - Mendoza College of Business and Michigan State University - Department of Finance
Downloads 203 (288,001)
Citation 9

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public liquidity, commercial paper, financial crisis, government intervention

13.

Financial Reform and Public Good Provision: Municipal Bankruptcy Law and the Financing of Hospitals

Downloads 196 (301,505)
Citation 4

Financial Reform and Public Good Provision: Municipal Bankruptcy Law and the Financing of Hospitals

Number of pages: 54 Posted: 04 Dec 2015 Last Revised: 19 Oct 2021
Stefano Rossi and Hayong Yun
Bocconi University and Michigan State University - Department of Finance
Downloads 195 (302,217)
Citation 5

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bankruptcy, Chapter 9, municipal bonds, hospitals

What Drives Financial Reform? Economics and Politics of the State-Level Adoption of Municipal Bankruptcy Laws

CEPR Discussion Paper No. DP10984
Number of pages: 53 Posted: 16 Dec 2015
Stefano Rossi and Hayong Yun
Bocconi University and Michigan State University - Department of Finance
Downloads 1 (1,248,433)
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bankruptcy, Chapter 9, judicial efficiency, labor union, municipal bonds

14.

The Full Story of Runs

Proceedings of the EUROFIDAI-ESSEC Paris December Finance Meeting 2023
Number of pages: 52 Posted: 25 May 2017 Last Revised: 25 Mar 2024
Jun Kyung Auh, Jun Kyung Auh, Mattia Landoni and Hayong Yun
Georgetown University - Department of FinanceYonsei University - School of Business, Federal Reserve Bank of Boston and Michigan State University - Department of Finance
Downloads 169 (339,422)

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Bank Run, Collateral Requirement, Lending Relationship

15.

Executive Compensation in a Changing Environment: Cautious Investors and Sticky Contracts

Downloads 162 (351,933)
Citation 2

Executive Compensation in a Changing Environment: Cautious Investors and Sticky Contracts

Number of pages: 67 Posted: 15 Mar 2012
Thomas F. Cosimano, Adam L. Speight and Hayong Yun
University of Notre Dame, Georgia State University - Risk Management & Insurance Department and Michigan State University - Department of Finance
Downloads 93 (539,424)

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executive compensation, optimal contracts, moral hazard, strategic experimentation

Executive Compensation in a Changing Environment: Cautious Investors and Sticky Contracts

Number of pages: 67 Posted: 21 Dec 2011
Thomas F. Cosimano, Adam L. Speight and Hayong Yun
University of Notre Dame, Georgia State University - Risk Management & Insurance Department and Michigan State University - Department of Finance
Downloads 69 (645,730)
Citation 2

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16.

How Ethical Should AI Be? How AI Alignment Shapes the Risk Preferences of LLMs

Number of pages: 74 Posted: 04 Jun 2024
Shumiao Ouyang, Hayong Yun and Xingjian Zheng
University of Oxford, Saïd Business School, Michigan State University - Department of Finance and Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)
Downloads 124 (435,361)

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Large Language Models, AI Alignment, Risk Preferences, AI in Finance, Underinvestment JEL Codes: G11, G41, D81, O33, C45, C63, D91, A13

17.

Learning Production Process Heterogeneity Across Industries: Implications of Deep Learning for Corporate M&A Decisions

Number of pages: 92 Posted: 28 Dec 2022 Last Revised: 26 Mar 2024
Jongsub Lee and Hayong Yun
Seoul National University and Michigan State University - Department of Finance
Downloads 106 (489,082)

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Machine learning, production process heterogeneity, merger and acquisitions (M&A’s), integration synergy, firm boundaries

18.

Algorithms and Fairness in Lending Markets: When Do Humans and Machines Disagree?

Number of pages: 54 Posted: 09 Nov 2022
Tong-yob Nam and Hayong Yun
Office of the Comptroller of the Currency, U.S. Department of the Treasury and Michigan State University - Department of Finance
Downloads 101 (506,105)

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fair lending, machine learning, anomaly detection, generative adversarial network.

19.

Lottery Tax Windfalls, State-Level Fiscal Policy, and Consumption

Number of pages: 19 Posted: 10 Jul 2013
Zhi Da, Mitch Warachka and Hayong Yun
University of Notre Dame - Mendoza College of Business, Chapman University - The George L. Argyros College of Business and Economics and Michigan State University - Department of Finance
Downloads 66 (650,116)
Citation 1

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Lotteries, Fiscal Policy, Consumption

20.

Bridging the Gap: The Impact of Board-Management Commonality on Firm Value and Board Decision-Making Effectiveness

Nanyang Business School Research Paper No. 24-13
Number of pages: 60 Posted: 12 Aug 2024
Jun-Koo Kang, Jungmin Kim, Shu-Cing Peng and Hayong Yun
Nanyang Business School, Nanyang Technological University, Faculty of Business, The Hong Kong Polytechnic University, National Central University - Department of Finance and Michigan State University - Department of Finance
Downloads 60 (681,359)

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Board, management, commonality, support vector machine (SVM), board diversity, leadership team diversity, decision-making, ChatGPT

21.

Online Appendix for “Family Feud: Succession Tournaments and Risk-taking in Family Firms”

Number of pages: 21 Posted: 14 May 2022
Jongsub Lee, Hojong Shin and Hayong Yun
Seoul National University, California State University, Long Beach and Michigan State University - Department of Finance
Downloads 48 (752,276)

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uccession tournaments, business group, risk shifting, family composition, sons, daughters, sons-in-law, sudden death of a group chairman, inheritance law

22.

The Political Economy of Municipal Bankruptcy

Number of pages: 12 Posted: 11 Mar 2024
Stefano Rossi and Hayong Yun
Bocconi University and Michigan State University - Department of Finance
Downloads 5 (1,150,951)

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municipal bankruptcy, Chapter 9, municipal bonds