S. Ghon Rhee

University of Hawaii - Shidler College of Business

K.J. Luke Chair of International Finance and Banking

2404 Maile Way

C-304, FEI/CBA

Honolulu, HI 96822

United States

University of Hawaii - Department of Financial Economics and Institutions

Shidler College of Business

United States

SCHOLARLY PAPERS

40

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CITATIONS
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121

Scholarly Papers (40)

1.

Market Sentiment, IPO Underpricing, and Valuation

Number of pages: 30 Posted: 25 Mar 2008
Cynthia J. Campbell, S. Ghon Rhee, Yan Du and Ning Tang
Iowa State University - Department of Accounting and Finance, University of Hawaii - Shidler College of Business, affiliation not provided to SSRN and Wilfrid Laurier University
Downloads 854 (26,794)
Citation 6

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IPO, underpricing, valuation, sentiment, underwriter reputation, information asymmetry

Foreign Institutional Ownership and Stock Market Liquidity: Evidence from Indonesia

Journal of Banking and Finance, Vol. 33, No. 7, 2009
Number of pages: 38 Posted: 15 Jul 2009
S. Ghon Rhee and Jian-Xin Wang
University of Hawaii - Shidler College of Business and University of Technology Sydney
Downloads 645 (38,654)
Citation 6

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Foreign investors, Foreign institutions, Foreign ownership, Foreign trading, Market liberalization, Liquidity, Bid-ask spread, Depth, Price sensitivity, the Jakarta Stock Exchange, Granger causality

Foreign Institutional Ownership and Stock Market Liquidity: Evidence from Indonesia

21st Australasian Finance and Banking Conference 2008 Paper
Number of pages: 34 Posted: 20 Mar 2008 Last Revised: 15 Jan 2010
S. Ghon Rhee and Jian-Xin Wang
University of Hawaii - Shidler College of Business and University of Technology Sydney
Downloads 195 (153,380)
Citation 18

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foreign institutions, foreign ownership, liquidity, bid-ask spread, depth, price impact

Return Reversals, Idiosyncratic Risk, and Expected Returns

Review of Financial Studies, Forthcoming
Number of pages: 37 Posted: 13 Jan 2009
Wei Huang, Qianqiu Liu, S. Ghon Rhee and Liang Zhang
University of Hawaii at Manoa - Shidler College of Business, University of Hawaii at Manoa - Shidler College of Business, University of Hawaii - Shidler College of Business and University of Hawaii
Downloads 537 (49,305)
Citation 76

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return reversal, idiosyncratic risk, expected return

Return Reversals, Idiosyncratic Risk, and Expected Returns

The Review of Financial Studies, Vol. 23, Issue 1, pp. 147-168, 2010
Posted: 25 Jan 2010
Wei Huang, Qianqiu Liu, S. Ghon Rhee and Liang Zhang
University of Hawaii at Manoa - Shidler College of Business, University of Hawaii at Manoa - Shidler College of Business, University of Hawaii - Shidler College of Business and University of Hawaii

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G12, C13

4.

The Brokerage Firm Effect in Herding: Evidence from Indonesia

Journal of Financial Research, Forthcoming
Number of pages: 33 Posted: 14 May 2007 Last Revised: 09 Dec 2009
National University of Singapore, University of Nevada, Reno - College of Business, University of Hawaii - Shidler College of Business and Rutgers, The State University of New Jersey - Rutgers University, Camden
Downloads 501 (54,488)
Citation 1

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Herding behavior, Foreign Investor, Domestic investor, Emerging stock market, Brokerage firm

Earnings Management Behaviors Under Different Economic Environments: Evidence from Japanese Banks

Number of pages: 31 Posted: 26 Jan 2005
National University of Singapore, Office of the Comptroller of the Currency (OCC), University of Hawaii - Shidler College of Business and University of Nevada, Reno - College of Business
Downloads 452 (61,340)
Citation 5

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Loan-loss provision, security gains, earnings management; and regulatory capital

Earnings Management Behaviors Under Different Economic Environments: Evidence from Japanese Banks

International Review of Economics and Finance, Forthcoming
Posted: 27 Dec 2005
National University of Singapore, Office of the Comptroller of the Currency (OCC), University of Nevada, Reno - College of Business and University of Hawaii - Shidler College of Business

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Loan-Loss Provision, Security Gains, Earnings Management

6.

National Culture and Corporate Cash Holdings around the World

Journal of Banking and Finance, Vol. 50, 2015
Number of pages: 55 Posted: 02 Jan 2012 Last Revised: 15 May 2017
Hong Kong Polytechnic University - Faculty of Business, Macquarie University, University of Hawaii - Shidler College of Business, Monash University and T.A. PAI Management Institute, Finance Area
Downloads 388 (74,391)
Citation 10

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Cash holdings; National culture; Individualism; Uncertainty avoidance

7.

Margin Purchases and Short Sales in Emerging Markets: Their Rationales and Design Variables

World Bank Financial Sector Paper Series
Number of pages: 64 Posted: 15 Jan 2009
Tadashi Endo and S. Ghon Rhee
Yamanashi Eiwa College and University of Hawaii - Shidler College of Business
Downloads 360 (81,153)
Citation 4

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Emerging markets, Margin purchases, Short sales, Short selling, Stock borrowing and lending

Investor Demand for Ipos and Aftermarket Performance: Evidence from the Hong Kong Stock Market

Working Paper No. 10-4
Number of pages: 33 Posted: 07 Dec 2004
Sumit Agarwal, Chunlin Liu and S. Ghon Rhee
National University of Singapore, University of Nevada, Reno - College of Business and University of Hawaii - Shidler College of Business
Downloads 294 (101,165)
Citation 12

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Initial Public Offering, Aftermarket Performance, Investor Demand

Investor Demand for Ipos and Aftermarket Performance: Evidence from the Hong Kong Stock Market

Journal of International Financial Markets, Institutions and Money, Forthcoming
Posted: 07 Jun 2006
Sumit Agarwal, Chunlin Liu and S. Ghon Rhee
National University of Singapore, University of Nevada, Reno - College of Business and University of Hawaii - Shidler College of Business

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Initial Public Offering, Aftermarket Performance, Investor Demand

9.

Local Gambling Preferences and Corporate Innovative Success

Journal of Financial and Quantitative Analysis (JFQA), Vol. 49, No. 1, Feb. 2014, pp. 77–106, FIRN Research Paper
Number of pages: 59 Posted: 07 Feb 2014 Last Revised: 22 Jul 2014
Hong Kong Polytechnic University - Faculty of Business, Deakin University, University of Hawaii - Shidler College of Business and T.A. PAI Management Institute, Finance Area
Downloads 269 (111,799)
Citation 12

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Innovation, Catholics-to-Protestants ratio, Gambling preferences, CEO overconfidence

10.

Why Do Foreign Investors Underperform Domestic Investors in Trading Activities? Evidence from Indonesia

Journal of Financial Markets, Forthcoming
Number of pages: 37 Posted: 01 Feb 2007 Last Revised: 09 Mar 2008
National University of Singapore, University of Nevada, Reno - College of Business Administration, University of Hawaii - Shidler College of Business and University of Nevada, Reno - College of Business
Downloads 261 (115,404)
Citation 11

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Trading performance, Foreign Investor, Domestic investor, Poor timing of trade hypothesis, Information advantage hypothesis, Aggressive trading hypothesis, Initiated orders, Non-initiated orders, Indonesian stock market

11.

Is the London Market Competitive? A Study of Trading Behavior of London Market Makers

EFMA 2000 Athens
Number of pages: 40 Posted: 04 Nov 2000
Rosita P. Chang, Chunlin Liu and S. Ghon Rhee
University of Hawaii - Department of Financial Economics and Institutions, University of Rhode Island and University of Hawaii - Shidler College of Business
Downloads 232 (130,091)
Citation 3

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12.

Navigating through Economic Policy Uncertainty: The Role of Corporate Cash Holdings

Asian Finance Association (AsianFA) 2017 Conference
Number of pages: 73 Posted: 30 Jan 2017 Last Revised: 08 Aug 2018
Monash University - Department of Banking and Finance, Victoria University of Wellington - Victoria Business School, RMIT- School of Economics, Finance and Marketing and University of Hawaii - Shidler College of Business
Downloads 222 (135,784)
Citation 2

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Policy uncertainty; cash holdings; financial constraints; corporate innovation; value of cash holdings

13.

Do Macroeconomic Factors Subsume Market Anomalies in Long Investment Horizons?

EFMA 2004 Basel Meetings Paper
Number of pages: 40 Posted: 09 Jun 2004
National Central University, National Central University at Taiwan - Department of Finance, University of Hawaii - Shidler College of Business and Ming Chuan University - Department of Economics
Downloads 216 (139,422)
Citation 1

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investment horizon, beta, size, book-to-market equity, CAPM, macroeconomic factors

14.

Why CEOs File Bankruptcy in Delaware

Number of pages: 27 Posted: 27 Jun 2007
Gregory R. Stone and S. Ghon Rhee
University of Nevada, Reno and University of Hawaii - Shidler College of Business
Downloads 194 (154,211)

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Bankruptcy, Delaware, agency theory

15.

Foreign Exchange Market Efficiency Under Recent Crises: Asia-Pacific Focus

Journal of International Money and Finance, Vol. 31, No. 6, 2012
Number of pages: 26 Posted: 22 Aug 2011 Last Revised: 08 Aug 2012
Rubi Ahmad, S. Ghon Rhee and Yuen Meng Wong
University of Malaya (UM), University of Hawaii - Shidler College of Business and University of Malaya (UM) - Faculty of Business & Accountancy
Downloads 169 (174,511)
Citation 7

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Foreign exchange market efficiency, Forward unbiasedness hypothesis, Cointegration, Asia-Pacific Currencies

16.

Limits-to-Arbitrage in US Penny Stocks: An Overlooked Segment of US Equity Markets

Asian Finance Association (AsianFA) 2015 Conference Paper
Number of pages: 36 Posted: 15 Feb 2015
Qianqiu Liu, S. Ghon Rhee and Liang Zhang
University of Hawaii at Manoa - Shidler College of Business, University of Hawaii - Shidler College of Business and University of Hawaii
Downloads 167 (176,290)
Citation 1

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Listed Penny Stocks, Asset Pricing Model, Trading Strategies, Short- Sale Constraints, Limits-to-Arbitrage, Institutional Ownership, Idiosyncratic Volatility

17.

Another Look at Idiosyncratic Volatility and Expected Returns

Journal of Investment Management, Vol. 9, No. 4, 2011, 26-51
Number of pages: 48 Posted: 20 Mar 2009 Last Revised: 19 May 2012
Wei Huang, Qianqiu Liu, S. Ghon Rhee and Liang Zhang
University of Hawaii at Manoa - Shidler College of Business, University of Hawaii at Manoa - Shidler College of Business, University of Hawaii - Shidler College of Business and University of Hawaii
Downloads 149 (194,105)
Citation 15

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idiosyncratic volatility, return reversals

18.

Extreme Downside Risk and Expected Stock Returns

Journal of Banking and Finance, Vol. 36, No. 5, 2012, 1492-1502
Number of pages: 34 Posted: 22 Mar 2009 Last Revised: 17 May 2012
Wei Huang, Qianqiu Liu, S. Ghon Rhee and Feng Wu
University of Hawaii at Manoa - Shidler College of Business, University of Hawaii at Manoa - Shidler College of Business, University of Hawaii - Shidler College of Business and University of Macau - Faculty of Business Administration
Downloads 132 (214,019)
Citation 19

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Extreme Downside Risk, Generalized Extreme Value Distribution, Idiosyncratic Volatility, Bankruptcy Risk

19.

A Retrospective Evaluation of the Pacific-Basin Finance Journal: 1993-2002

Dice Center Working Paper No. 2002-9
Number of pages: 35 Posted: 22 Nov 2003
Kalok Chan, George Andrew Karolyi and S. Ghon Rhee
CUHK Business School, Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Hawaii - Shidler College of Business
Downloads 119 (231,506)

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20.

Shareholder Perks in Japan: Price Movement and Trading Volume Around Ex-Benefit Days

Asian Finance Association (AsianFA) 2016 Conference
Number of pages: 38 Posted: 09 May 2016
University of Hawaii at Manoa - Shidler College of Business, University of Hawaii - Shidler College of Business, Hitotsubashi University - Graduate School of International Corporate Strategy and Soka University
Downloads 116 (236,018)

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21.

Institutional Trading Performance in a Retail Investor Dominated Emerging Market

Number of pages: 43 Posted: 09 Mar 2011
Wei Li, S. Ghon Rhee and Steven Shuye Wang
Hong Kong Polytechnic University - School of Accounting and Finance, University of Hawaii - Shidler College of Business and School of Business, Renmin University of China
Downloads 78 (305,747)

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institutional trades, performance, persistence, information

Nominal Stock Price Anchors: A Global Phenomenon?

HKUST IEMS Working Paper No. 2019-64
Number of pages: 34 Posted: 15 Jul 2019
York University - Schulich School of Business, Hong Kong University of Science & Technology (HKUST) - HKUST School of Business and Management, John Carroll University - Department of Economics & Finance and University of Hawaii - Shidler College of Business
Downloads 10 (604,952)

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anchoring, norms, nominal share price, stock splits, reverse stock splits

23.

Do Banks Learn from Other Financial Markets? Evidence from Loan Contract Design

Number of pages: 43 Posted: 23 May 2018
Huu Nhan Duong, S. Ghon Rhee and Van Vu
Monash University - Department of Banking and Finance, University of Hawaii - Shidler College of Business and Department of Economics and Finance, La Trobe University
Downloads 48 (390,105)

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Option implied volatility skewness, Short selling interest, Bank loan contracts

24.

Anything Wrong with Breaking a Buck? An Empirical Evaluation of Nasdaq’s $1 Minimum Bid Price Maintenance Criterion

Journal of Financial Markets, Forthcoming
Number of pages: 50 Posted: 07 Oct 2011
S. Ghon Rhee and Feng Wu
University of Hawaii - Shidler College of Business and University of Macau - Faculty of Business Administration
Downloads 43 (407,768)
Citation 2

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Exchange listing standards, Low-priced stocks, Extreme tail risk, NASDAQ

25.

Do Progressive Social Norms Affect Economic Outcomes? Evidence from Corporate Takeovers

Journal of Empirical Finance, Forthcoming
Number of pages: 52 Posted: 11 Jan 2017
Hong Kong Polytechnic University - Faculty of Business, Deakin University, University of Hawaii - Shidler College of Business and T.A. PAI Management Institute, Finance Area
Downloads 34 (443,246)

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Religion, Corporate takeovers, Mainline Protestants, Behavioral finance

26.

Real Asset Liquidity and Corporate Innovation

Asian Finance Association (AsianFA) 2015 Conference Paper
Number of pages: 59 Posted: 17 Feb 2015
National Central University at Taiwan, Southwestern University of Finance and Economics (SWUFE) - School of Finance and University of Hawaii - Shidler College of Business
Downloads 30 (461,226)

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Asset Liquidity, R&D, Innovation

27.

CEO Inside Debt and Convertible Bonds

Forthcoming, Journal of Business Finance & Accounting
Number of pages: 43 Posted: 22 Sep 2017
Wei-Hsien Li, S. Ghon Rhee and Carl Hsin-han Shen
National Central University, University of Hawaii - Shidler College of Business and Macquarie University, Macquarie Business School
Downloads 26 (481,278)

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Convertible bond; Inside debt; Risk shifting

28.

CEO Inside Debt and Convertible Bonds

Journal of Business Finance & Accounting, Vol. 45, Issue 1-2, pp. 232-249, 2018
Number of pages: 43 Posted: 06 Sep 2018 Last Revised: 16 Sep 2018
Wei-Hsien Li, S. Ghon Rhee and Carl Hsin-han Shen
National Central University at Taiwan - Department of Finance, University of Hawaii - Shidler College of Business and Macquarie University, Macquarie Business School
Downloads 12 (561,779)
Citation 1

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convertible bond, inside debt, risk shifting

29.

Underwriting in the Australian IPO Markets: Determinants and Pricing

Number of pages: 65 Posted: 29 May 2019
University of Auckland - Business School, Monash University - Department of Banking and Finance, Monash Business School, University of Hawaii - Shidler College of Business and T.A. PAI Management Institute, Finance Area
Downloads 8 (586,455)

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Initial public offerings; Commitments test entity; Underwriting; Bookbuild; Australian Securities Exchange

30.

Preferenced Trading, Quote Competition, and Market Quality: Evidence from Decimalization on the NYSE

Financial Review, Vol. 45, Issue 3, pp. 523-540, August 2010
Number of pages: 18 Posted: 13 Jul 2010
Wei Huang, S. Ghon Rhee and Ning Tang
University of Hawaii at Manoa - Shidler College of Business, University of Hawaii - Shidler College of Business and Wilfrid Laurier University
Downloads 3 (620,475)
Citation 3
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31.

Can Quote Competition Reduce Preferenced Trading? A Reexamination of the SEC's 1997 Order Handling Rules

Accounting & Finance, Vol. 53, Issue 1, pp. 243-264, 2013
Number of pages: 22 Posted: 16 Mar 2013
S. Ghon Rhee and Ning Tang
University of Hawaii - Shidler College of Business and Wilfrid Laurier University
Downloads 1 (643,078)
Citation 1
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Preferenced trading, Quote competitiveness, Order flow competition, Order handling rules, Market reforms

32.

An Analysis of the Magnet Effect under Price Limits

International Review of Finance, Vol. 9, Issue 1-2, pp. 83-110, March/June 2009
Number of pages: 28 Posted: 08 Jun 2009
Daphne Yan Du, Qianqiu Liu and S. Ghon Rhee
affiliation not provided to SSRN, University of Hawaii at Manoa - Shidler College of Business and University of Hawaii - Shidler College of Business
Downloads 1 (643,078)
Citation 2
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33.

CEO Inside Debt and Convertible Bonds

Journal of Business Finance & Accounting, Vol. 45, Issue 1-2, pp. 232-249, 2018
Number of pages: 18 Posted: 08 Feb 2018
National Central University at Taiwan, University of Hawaii - Shidler College of Business and Macquarie University, Macquarie Business School
Downloads 0 (661,222)
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convertible bond, inside debt, risk shifting

34.

Large Trade Based Manipulation: Beyond the Prosecuted Cases

Journal of Corporate Finance, Vol. 42, 2017
Posted: 09 Nov 2017
Griffith University - Department of Accounting, Finance and Economics, University of Hawaii - Shidler College of Business, Griffith University- Department of Accounting, Finance and Economics and T.A. PAI Management Institute, Finance Area

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Manipulation, Trade-based manipulation, Pump-and-dump scheme, Indian IPOs

35.

The Low Volatility Anomaly in Australian Stock Returns

30th Australasian Finance and Banking Conference 2017
Posted: 09 Oct 2017 Last Revised: 21 Sep 2018
University of New South Wales (UNSW), School of Banking and Finance, Students, University of Hawaii at Manoa - Shidler College of Business, UNSW Business School, University of New South Wales, University of Hawaii - Shidler College of Business and UNSW Australia Business School, School of Banking and Finance

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Returns anomaly, realized volatility, CAPM, factor models

36.

Another Look at Idiosyncratic Volatility and Expected Returns

Journal Of Investment Management (JOIM), Fourth Quarter 2011
Posted: 25 May 2012
Victor Huang, Qianqiu Liu, S. Ghon Rhee and Liang Zhang
affiliation not provided to SSRN, University of Hawaii at Manoa - Shidler College of Business, University of Hawaii - Shidler College of Business and affiliation not provided to SSRN

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Idiosyncratic volatility, January effect, return reversals

37.

Where Does Price Discovery Occur for Stocks Traded in Multiple Markets? Evidence from Hong Kong and London Stocks

Journal of International Money and Finance, Forthcoming
Posted: 07 Dec 2004
Sumit Agarwal, Chunlin Liu and S. Ghon Rhee
National University of Singapore, University of Rhode Island and University of Hawaii - Shidler College of Business

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Dually-listed stocks, Price discovery, Liquidity-driven trading

38.

Taxes, Keiretsu Affiliation, and Income Shifting

Journal of Accounting & Economics, Vol. 37, No. 2, pp. 203-228, June 2004
Posted: 11 Mar 2004
Carson College of Business, Sasin GIBA of Chulalongkorn University and University of Hawaii - Shidler College of Business

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Keiretsu, income shifting, marginal tax rate

39.

Price Limit Performance: Evidence from the Tokyo Stock Exchange

Journal of Finance, June 1997
Posted: 18 Apr 1998
Kenneth Kim and S. Ghon Rhee
SUNY at Buffalo - School of Management and University of Hawaii - Shidler College of Business

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40.

Taxes and Horizontal Corporate Group (Keiretsu) Affiliation: Empirical Evidence from Japan

PACAP WP 9602
Posted: 10 Dec 1996
Piman Limpaphayom and S. Ghon Rhee
Sasin GIBA of Chulalongkorn University and University of Hawaii - Shidler College of Business

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