S. Ghon Rhee

University of Hawaii at Manoa - 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 at Manoa - Department of Financial Economics and Institutions

Shidler College of Business

United States

SCHOLARLY PAPERS

43

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75

CROSSREF CITATIONS

105

Scholarly Papers (43)

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 at Manoa - Shidler College of Business, affiliation not provided to SSRN and Wilfrid Laurier University
Downloads 911 (27,254)
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 at Manoa - Shidler College of Business and University of Technology Sydney
Downloads 671 (40,921)

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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 at Manoa - Shidler College of Business and University of Technology Sydney
Downloads 201 (163,897)
Citation 8

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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 at Manoa - Shidler College of Business and University of Hawaii
Downloads 549 (53,253)
Citation 11

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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 at Manoa - 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 at Manoa - Shidler College of Business and Rutgers, The State University of New Jersey - Rutgers University, Camden
Downloads 506 (59,736)

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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 at Manoa - Shidler College of Business and University of Nevada, Reno - College of Business
Downloads 457 (67,157)

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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

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 at Manoa - 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
City University of Hong Kong (CityUHK) - Department of Accountancy, Macquarie University, University of Hawaii at Manoa - Shidler College of Business, Monash University and T.A. PAI Management Institute, Finance Area
Downloads 408 (77,681)
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
Nagoya University - Graduate School of International Development and University of Hawaii at Manoa - Shidler College of Business
Downloads 375 (85,739)
Citation 7

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

8.

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

Journal of Corporate Finance, Forthcoming
Number of pages: 76 Posted: 30 Jan 2017 Last Revised: 30 Mar 2020
Monash University - Department of Banking and Finance, Victoria University of Wellington, RMIT- School of Economics, Finance and Marketing and University of Hawaii at Manoa - Shidler College of Business
Downloads 306 (107,613)
Citation 7

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Policy uncertainty; cash holdings; financial constraints; corporate innovation; investment.

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 at Manoa - Shidler College of Business
Downloads 299 (109,727)
Citation 10

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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 at Manoa - Shidler College of Business

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Initial Public Offering, Aftermarket Performance, Investor Demand

10.

Local Gambling Preferences and Corporate Innovative Success

Journal of Financial and Quantitative Analysis (JFQA), Vol. 49, No. 1, Feb. 2014, pp. 77–106
Number of pages: 59 Posted: 07 Feb 2014 Last Revised: 22 Jul 2014
City University of Hong Kong (CityUHK) - Department of Accountancy, Deakin University, University of Hawaii at Manoa - Shidler College of Business and T.A. PAI Management Institute, Finance Area
Downloads 282 (117,481)
Citation 12

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

11.

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 at Manoa - Shidler College of Business and University of Nevada, Reno - College of Business
Downloads 268 (123,862)
Citation 1

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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

12.

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 at Manoa - Department of Financial Economics and Institutions, University of Rhode Island and University of Hawaii at Manoa - Shidler College of Business
Downloads 233 (142,692)
Citation 3

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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 - Department of Finance, University of Hawaii at Manoa - Shidler College of Business and Ming Chuan University - Department of Economics
Downloads 219 (151,536)

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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 at Manoa - Shidler College of Business
Downloads 197 (167,253)

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Bankruptcy, Delaware, agency theory

15.

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 at Manoa - Shidler College of Business and University of Hawaii
Downloads 185 (177,006)
Citation 1

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

16.

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 at Manoa - Shidler College of Business and University of Malaya (UM) - Faculty of Business & Accountancy
Downloads 175 (186,005)
Citation 2

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

17.

Impact of Policy Uncertainty on Stock Liquidity: Cross-sectional Effects and Economic Channels

Number of pages: 49 Posted: 20 Dec 2017 Last Revised: 17 Dec 2019
Monash University - Department of Banking and Finance, University of Southern Queensland, Victoria University of Wellington, RMIT- School of Economics, Finance and Marketing and University of Hawaii at Manoa - Shidler College of Business
Downloads 163 (198,705)

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Policy Uncertainty, Stock Liquidity, Information Asymmetry, Cash-flow Risk, Funding Liquidity

18.

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 at Manoa - Shidler College of Business and University of Hawaii
Downloads 160 (200,824)
Citation 14

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idiosyncratic volatility, return reversals

19.

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 at Manoa - Shidler College of Business, Hitotsubashi University - Graduate School of International Corporate Strategy and Soka University
Downloads 141 (222,870)

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20.

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 at Manoa - Shidler College of Business and University of Macau - Faculty of Business Administration
Downloads 140 (224,165)
Citation 9

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

21.

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 at Manoa - Shidler College of Business
Downloads 119 (253,953)

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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 at Manoa - Shidler College of Business
Downloads 28 (529,461)

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

23.

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 at Manoa - Shidler College of Business and School of Business, Renmin University of China
Downloads 79 (332,188)

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institutional trades, performance, persistence, information

24.

Do banks learn from financial markets? Evidence from loan contract pricing

Number of pages: 52 Posted: 23 May 2018 Last Revised: 23 Jun 2020
Huu Nhan Duong, S. Ghon Rhee and Van Vu
Monash University - Department of Banking and Finance, University of Hawaii at Manoa - Shidler College of Business and Department of Economics, Finance and Marketing, La Trobe University
Downloads 64 (375,991)

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Short selling; Feedback effect; Information spillover; Syndicated loans; Bank loan costs

25.

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 at Manoa - Shidler College of Business and University of Macau - Faculty of Business Administration
Downloads 43 (445,787)

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

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, Southwestern University of Finance and Economics (SWUFE) - School of Finance and University of Hawaii at Manoa - Shidler College of Business
Downloads 39 (462,410)

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Asset Liquidity, R&D, Innovation

27.

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

Journal of Empirical Finance, Forthcoming
Number of pages: 52 Posted: 11 Jan 2017
City University of Hong Kong (CityUHK) - Department of Accountancy, Deakin University, University of Hawaii at Manoa - Shidler College of Business and T.A. PAI Management Institute, Finance Area
Downloads 38 (466,644)

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Religion, Corporate takeovers, Mainline Protestants, Behavioral finance

28.

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 at Manoa - Shidler College of Business and Macquarie University, Macquarie Business School
Downloads 31 (499,266)

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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 at Manoa - Shidler College of Business and T.A. PAI Management Institute, Finance Area
Downloads 28 (515,089)

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

30.

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 at Manoa - Shidler College of Business and Macquarie University, Macquarie Business School
Downloads 17 (582,297)
Citation 1

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convertible bond, inside debt, risk shifting

31.

The Development of East Asian Bond Markets (Presentation Slides)

3rd Chapman Conference on Money and Finance - Financial Market Development in Emerging Asia: Impact on Corporate Performance, Capital Flows and Politics | May 4, 2018
Number of pages: 25 Posted: 26 Jul 2019
S. Ghon Rhee
University of Hawaii at Manoa - Shidler College of Business
Downloads 13 (608,527)

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Bond Markets, Regional Markets, East Asia

32.

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 at Manoa - Shidler College of Business and Wilfrid Laurier University
Downloads 3 (679,914)
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33.

Venture Capital‐Backed and Commitments Test Entity Initial Public Offerings on the Asx

Accounting & Finance, Vol. 59, Issue 2, pp. 1265-1297, 2019
Number of pages: 33 Posted: 19 Mar 2020
Monash University - Department of Banking and Finance, Monash Business School, University of Auckland, University of Hawaii at Manoa - Shidler College of Business and T.A. PAI Management Institute, Finance Area
Downloads 1 (702,158)
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Initial public offerings, Underpricing: Wealth losses, Venture capital, Commitments test entity

34.

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 at Manoa - Shidler College of Business and Wilfrid Laurier University
Downloads 1 (702,158)
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Preferenced trading, Quote competitiveness, Order flow competition, Order handling rules, Market reforms

35.

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 at Manoa - Shidler College of Business
Downloads 1 (702,158)
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36.

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, University of Hawaii at Manoa - Shidler College of Business and Macquarie University, Macquarie Business School
Downloads 0 (720,567)
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convertible bond, inside debt, risk shifting

37.

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 at Manoa - 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

38.

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 at Manoa - 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

39.

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 at Manoa - Shidler College of Business and affiliation not provided to SSRN

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Idiosyncratic volatility, January effect, return reversals

40.

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 at Manoa - Shidler College of Business

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

41.

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 at Manoa - Shidler College of Business

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Keiretsu, income shifting, marginal tax rate

42.

Price Limit Performance: Evidence from the Tokyo Stock Exchange

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

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43.

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 at Manoa - Shidler College of Business

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