Kee H. Chung

State University of New York at Buffalo - School of Management

Louis M. Jacobs Chair of Financial Planning and Control

Buffalo, NY 14260

United States

http://mgt.buffalo.edu/faculty/academic-departments/finance/faculty/kee-chung.html

SCHOLARLY PAPERS

83

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33,046

SSRN CITATIONS
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Top 1,773

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201

CROSSREF CITATIONS

536

Scholarly Papers (83)

1.

A Simple Approximation of Tobin's Q

Financial Management, Vol. 23, No. 3, 1994
Number of pages: 5 Posted: 13 Jan 2007
Kee H. Chung and Stephen W. Pruitt
State University of New York at Buffalo - School of Management and University of Missouri at Kansas City - Department of Finance, Information Management, and Strategy
Downloads 4,379 (2,654)
Citation 13

Abstract:

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Tobin's q, Simple formula

2.

Corporate Governance and Liquidity

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 42 Posted: 11 Jun 2008 Last Revised: 31 May 2009
Kee H. Chung, John Elder and Jang-Chul Kim
State University of New York at Buffalo - School of Management, Colorado State University and Northern Kentucky University - Haile/US Bank College of Business
Downloads 2,135 (8,824)
Citation 11

Abstract:

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Corporate governance, Spreads, Price impact, Information-based trading, Liquidity

3.

Corporate Governance and Institutional Ownership

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 53 Posted: 25 May 2009
Kee H. Chung, Hao Zhang and Hao Zhang
State University of New York at Buffalo - School of Management and Rochester Institute of Technology (RIT) - Saunders College of BusinessRochester Institute of Technology (RIT) - Saunders College of Business
Downloads 1,932 (10,425)
Citation 12

Abstract:

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Corporate governance, Institutional ownership, Fiduciary responsibility, Monitoring costs, Liquidity, Trading costs

Marketing of Stocks by Brokerage Firms: The Role of Financial Analysts

Number of pages: 31 Posted: 29 Oct 2000
Kee H. Chung
State University of New York at Buffalo - School of Management
Downloads 1,927 (10,248)

Abstract:

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Marketing, Financial analysts, Stock rankings, Cognitive error

Marketing of Stocks by Brokerage Firms: The Role of Financial Analysts

Financial Management
Posted: 06 Oct 2000
Kee H. Chung
State University of New York at Buffalo - School of Management

Abstract:

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Marketing, Financial analysts, Stock rankings, Cognitive error

Citation Patterns in the Finance Literature

Number of pages: 24 Posted: 20 Dec 2000
Kee H. Chung, Raymond Cox and John B. Mitchell
State University of New York at Buffalo - School of Management, Thompson Rivers University and Central Michigan University - Department of Finance and Law
Downloads 1,914 (10,352)
Citation 1

Abstract:

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citations, concentration, stochastic process

Citation Patterns in the Finance Literature

Financial Management, Vol. 30, No. 3, Autumn 2001
Posted: 16 Aug 2001
Kee H. Chung, Raymond Cox and John B. Mitchell
State University of New York at Buffalo - School of Management, Thompson Rivers University and Central Michigan University - Department of Finance and Law

Abstract:

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Journal citations, scholarly output, journal rankings

6.

A Simple Approximation of Intraday Spreads Using Daily Data

Journal of Financial Markets, Forthcoming
Number of pages: 41 Posted: 28 Feb 2009 Last Revised: 27 May 2013
Kee H. Chung, Hao Zhang and Hao Zhang
State University of New York at Buffalo - School of Management and Rochester Institute of Technology (RIT) - Saunders College of BusinessRochester Institute of Technology (RIT) - Saunders College of Business
Downloads 984 (29,110)
Citation 28

Abstract:

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Bid-ask spreads, TAQ, CRSP, Market liquidity, Information asymmetry, Low-frequency liquidity measures

7.

Trading Volume, Information, and Trading Costs: Empirical Evidence

Number of pages: 30 Posted: 09 Apr 2003
Kee H. Chung, Hoje Jo and Hersh Shefrin
State University of New York at Buffalo - School of Management, Santa Clara University and Santa Clara University - Leavey School of Business
Downloads 911 (32,514)

Abstract:

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Trading volume, Information precision, Differential belief, Bid-ask spreads, Structural model

8.

Information-Based Trading, Price Impact of Trades, and Trade Autocorrelation

Number of pages: 35 Posted: 27 May 2004
Kee H. Chung, Mingsheng Li and Thomas H. McInish
State University of New York at Buffalo - School of Management, Bowling Green State University - College of Business Administration and University of Memphis - Fogelman College of Business and Economics
Downloads 844 (36,095)
Citation 6

Abstract:

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Quote revisions, asymmetric information, price impact, trade autocorrelation

9.
Downloads 825 ( 37,197)
Citation 5

Information Asymmetry and Corporate Cash Holdings

Number of pages: 49 Posted: 05 Mar 2011 Last Revised: 20 Nov 2015
State University of New York at Buffalo - School of Management, Northern Kentucky University - Haile/US Bank College of Business, Northern Kentucky University - Haile/US Bank College of Business and Rochester Institute of Technology (RIT) - Saunders College of BusinessRochester Institute of Technology (RIT) - Saunders College of Business
Downloads 825 (36,667)

Abstract:

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Cash Holdings, Information Asymmetry, Corporate Governance, Firm Value

Information Asymmetry and Corporate Cash Holdings

Journal of Business Finance & Accounting, Vol. 42, Issue 9-10, pp. 1341-1377, 2015
Number of pages: 37 Posted: 20 Jan 2016
State University of New York at Buffalo - School of Management, Northern Kentucky University, Northern Kentucky University - Haile/US Bank College of Business and Rochester Institute of Technology (RIT) - Saunders College of BusinessRochester Institute of Technology (RIT) - Saunders College of Business
Downloads 0
Citation 1
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cash holdings, information asymmetry, monitoring cost

10.

An Analytical Measure of Market Underreaction to Earnings News

Number of pages: 31 Posted: 15 Mar 2014 Last Revised: 28 Jul 2020
Kee H. Chung, Oliver Kim, Steve C. Lim and Sean Yang
State University of New York at Buffalo - School of Management, University of Maryland, Texas Christian University - M.J. Neeley School of Business and Oregon State University - College of Business
Downloads 768 (41,079)

Abstract:

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Strategic trading, Information asymmetry, Information precision, Liquidity demander, Liquidity provider, Order imbalance, Information content, Price impact

11.

Market Volatility and Stock Returns: The Role of Liquidity Providers

Number of pages: 58 Posted: 04 Apr 2017 Last Revised: 18 Apr 2018
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Kansas State University - Department of Finance
Downloads 633 (53,197)
Citation 2

Abstract:

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Market Volatility, Risk Premium, VIX, Liquidity Shock, Bid-Ask Spread, Price Impact, Stock Returns, Market Structure

Intraday Variation in the Bid-Ask Spread: Evidence after the Market Reform

Number of pages: 25 Posted: 06 Feb 2002
Kee H. Chung and Xin Zhao
State University of New York at Buffalo - School of Management and Pennsylvania State University (Erie) - The Behrend College
Downloads 576 (59,204)

Abstract:

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Nasdaq, order handling rules, intraday pattern, spreads

Intraday Variation in the Bid-Ask Spread: Evidence after the Market Reform

Posted: 01 Apr 2002
Kee H. Chung and Xin Zhao
State University of New York at Buffalo - School of Management and Pennsylvania State University (Erie) - The Behrend College

Abstract:

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Nasdaq, order handling rules, intraday pattern, spreads

13.
Downloads 548 ( 63,781)
Citation 46

Limit Orders and the Bid-Ask Spread

Number of pages: 38 Posted: 03 Jun 2003
State University of New York at Buffalo - School of Management, University of Mississippi - Department of Finance and University of Mississippi - Department of Finance
Downloads 548 (63,071)
Citation 46

Abstract:

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Limit order, Bid-ask spread, Specialists

Limit Orders and the Bid-Ask Spread

Journal of Financial Economics, Vol. 53, pp. 255-287, August 1999
Posted: 30 Oct 1998
State University of New York at Buffalo - School of Management, University of Mississippi - Department of Finance and University of Mississippi - Department of Finance

Abstract:

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14.

High-Frequency Trading: Review of the Literature and Regulatory Initiatives Around the World

Asia-Pacific Journal of Financial Studies, Forthcoming
Number of pages: 40 Posted: 02 Dec 2015
Kee H. Chung and Albert J. Lee
State University of New York at Buffalo - School of Management and Truman State University - Department of Business Administration
Downloads 543 (64,489)
Citation 1

Abstract:

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High-frequency traders, Market quality, Market volatility, Market regulation, Algorithmic trading

Order Preferencing and Market Quality on NASDAQ Before and after Decimalization

Number of pages: 43 Posted: 07 May 2003
State University of New York at Buffalo - School of Management, Indiana University Purdue University Fort Wayne and U.S. Securities and Exchange Commission
Downloads 539 (64,382)
Citation 15

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Order Preferencing and Market Quality on NASDAQ Before and after Decimalization

Posted: 07 May 2003
State University of New York at Buffalo - School of Management, Indiana University Purdue University Fort Wayne and U.S. Securities and Exchange Commission

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16.

Are NASDAQ Stocks More Costly to Trade than NYSE Stocks? Evidence after Decimalization

Number of pages: 33 Posted: 27 Jul 2001
State University of New York at Buffalo - School of Management, University of Mississippi - Department of Finance and University of Mississippi - Department of Finance
Downloads 522 (67,803)
Citation 17

Abstract:

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liquidity, spreads, decimal pricing, quote clustering

17.
Downloads 521 ( 67,967)
Citation 2

Tick Size and Quote Revisions on the NYSE

Number of pages: 28 Posted: 16 Aug 2001
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Indiana University Purdue University Fort Wayne
Downloads 521 (67,231)
Citation 2

Abstract:

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Specialists, Spreads, Depths, Liquidity providers, Minimum price variation

Tick Size and Quote Revisions on the NYSE

Posted: 16 Aug 2001
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Indiana University Purdue University Fort Wayne

Abstract:

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Specialists, Spreads, Depths, Liquidity providers, Minimum price variation

18.
Downloads 483 ( 74,611)
Citation 1

Assets in Place, Growth Opportunities, and IPO Returns

Number of pages: 40 Posted: 04 Aug 2005
Kee H. Chung, Mingsheng Li and Linda Q. Yu
State University of New York at Buffalo - School of Management, Bowling Green State University - College of Business Administration and University of Wisconsin - Whitewater - Finance and Business Law
Downloads 463 (77,730)

Abstract:

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IPO returns, growth opportunities, assets in place, risk, reservation price

Assets in Place, Growth Opportunities, and IPO Returns

Financial Management, Vol. 34, No. 3, pp. 65-88, Autumn 2005
Number of pages: 24 Posted: 23 Nov 2005
Kee H. Chung, Mingsheng Li and Linda Q. Yu
State University of New York at Buffalo - School of Management, Bowling Green State University - College of Business Administration and University of Wisconsin - Whitewater - Finance and Business Law
Downloads 20 (663,335)
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19.

Uncertainty, Market Structure, and Liquidity

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 58 Posted: 06 Dec 2013 Last Revised: 16 May 2014
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Kansas State University - Department of Finance
Downloads 481 (74,991)
Citation 5

Abstract:

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Liquidity commonality, VIX, Volatility, Market makers, Uncertainty, Bid-ask spread, Market structure

20.

Tick Size, Liquidity for Small and Large Orders, and Price Informativeness: Evidence from the Tick Size Pilot Program

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 85 Posted: 04 Aug 2018 Last Revised: 08 Aug 2019
Kee H. Chung, Albert J. Lee and Dominik Rösch
State University of New York at Buffalo - School of Management, Truman State University - Department of Business Administration and State University of New York at Buffalo - School of Management
Downloads 458 (79,570)
Citation 10

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Tick size; Pilot program; Pricing efficiency; Liquidity spillover

21.

Tick Size and Trading Costs: NYSE vs. NASDAQ

Number of pages: 26 Posted: 21 Nov 2000
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Indiana University Purdue University Fort Wayne
Downloads 458 (79,570)
Citation 1

Abstract:

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Spreads, depths, time precedence, minimum price variation

22.

Information Disclosure and Market Quality: The Effect of Sec Rule 605 on Trading Costs

Number of pages: 44 Posted: 27 Jan 2006
Xin Zhao and Kee H. Chung
Pennsylvania State University (Erie) - The Behrend College and State University of New York at Buffalo - School of Management
Downloads 437 (84,277)
Citation 4

Abstract:

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Execution costs, Market quality, Information disclosure, Market makers, Quote competition

23.

Volatility and the Cross-Section of Corporate Bond Returns

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 45 Posted: 28 Jun 2018 Last Revised: 07 Nov 2018
Kee H. Chung, Junbo Wang and Chunchi Wu
State University of New York at Buffalo - School of Management, Dept. of Economics and Finance, City Univ. of HK and SUNY at Buffalo - School of Management
Downloads 415 (89,253)
Citation 11

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Aggregate Volatility Risk; Corporate Bond Pricing; Default Risk; Idiosyncratic Risk; Ratings

24.
Downloads 406 ( 91,601)

Security Analysis and Market Making

Number of pages: 42 Posted: 04 Nov 2003
Kee H. Chung and Seong-Yeon Cho
State University of New York at Buffalo - School of Management and Oakland University
Downloads 406 (90,811)

Abstract:

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NASDAQ, Analyst following, Dealers, Market making, Earnings forecasts

Security Analysis and Market Making

Posted: 22 May 2004
Kee H. Chung and Seong-Yeon Cho
State University of New York at Buffalo - School of Management and Oakland University

Abstract:

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NASDAQ, analyst following, dealers, market making, earnings forecasts

Can the Treatment of Limit Orders Reconcile the Differences in Trading Costs between NYSE and NASDAQ Issues?

Number of pages: 33 Posted: 11 Dec 2000
State University of New York at Buffalo - School of Management, University of Mississippi - Department of Finance and University of Mississippi - Department of Finance
Downloads 404 (91,327)
Citation 13

Abstract:

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Limit order, bid-ask spread, collusion, NYSE specialists, Nasdaq dealers

Can the Treatment of Limit Orders Reconcile the Differences in Trading Costs between NYSE and NASDAQ Issues?

Posted: 25 Jan 2001
State University of New York at Buffalo - School of Management, University of Mississippi - Department of Finance and University of Mississippi - Department of Finance

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Limit order, bid-ask spread, collusion, NYSE specialists, Nasdaq dealers

26.

Reverse Stock Splits, Institutional Holdings, and Share Value

Number of pages: 59 Posted: 15 Mar 2011 Last Revised: 11 Oct 2014
Kee H. Chung and Sean Yang
State University of New York at Buffalo - School of Management and State University of New York at Buffalo - School of Management
Downloads 392 (95,344)

Abstract:

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Reverse stock split, Institutional investment, Investor base, Prudent-person rule, Fiduciary responsibility

27.

Characteristics and Information Value of Credit Watches

Financial Management, Forthcoming
Number of pages: 69 Posted: 31 Dec 2008 Last Revised: 04 Jan 2012
Kee H. Chung, Carol Ann Frost and Myungsun Kim
State University of New York at Buffalo - School of Management, University of North Texas and SUNY at Buffalo
Downloads 381 (98,595)
Citation 2

Abstract:

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Credit watches, Credit rating agencies (CRAs), Bond ratings, Market impact, Contracting, Information supply

28.

Spreads, Depths, and Quote Clustering on the NYSE and NASDAQ: Evidence after the 1997 Securities and Exchange Commission Rule Changes

Number of pages: 34 Posted: 13 Aug 2002
State University of New York at Buffalo - School of Management, University of Mississippi - Department of Finance and University of Mississippi - Department of Finance
Downloads 378 (99,444)
Citation 7

Abstract:

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liquidity, spreads, depths, quote clustering, collusion

29.

Regulation NMS and Market Quality

Financial Management, Forthcoming
Number of pages: 55 Posted: 15 Nov 2010 Last Revised: 26 Sep 2011
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Kansas State University - Department of Finance
Downloads 346 (109,820)
Citation 6

Abstract:

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regulation NMS, spreads, depths, market quality index, trading costs, price discovery, execution speed, execution probability, price impact, price improvement, return volatility, market share

30.

Effects of Earnings Announcements on Liquidity, Information Asymmetry, and Trading: New Evidence from Implementation of ASC 606

Number of pages: 59 Posted: 27 Apr 2020 Last Revised: 17 Apr 2021
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Kansas State University - Department of Finance
Downloads 340 (112,033)
Citation 1

Abstract:

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Liquidity, Information asymmetry, Revenue recognition standard, ASC 606, Earnings announcements, Earnings informativeness

Decimal Pricing and Information-Based Trading: Tick Size and Informational Efficiency of Asset Price

Number of pages: 24 Posted: 03 Dec 2005
Xin Zhao and Kee H. Chung
Pennsylvania State University (Erie) - The Behrend College and State University of New York at Buffalo - School of Management
Downloads 306 (124,846)
Citation 3

Abstract:

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tick size, information-based trading, decimalization, PIN measure, information efficiency

Decimal Pricing and Information-Based Trading: Tick Size and Informational Efficiency of Asset Price

Journal of Business Finance & Accounting, Vol. 33, No. 5-6, pp. 753-766, June/July 2006
Number of pages: 14 Posted: 13 Aug 2006
Xin Zhao and Kee H. Chung
Pennsylvania State University (Erie) - The Behrend College and State University of New York at Buffalo - School of Management
Downloads 27 (611,300)
Citation 2
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Trading Costs and Quote Clustering on the NYSE and NASDAQ after Decimalization

Number of pages: 31 Posted: 02 Oct 2003
State University of New York at Buffalo - School of Management, University of Mississippi - Department of Finance and University of Mississippi - Department of Finance
Downloads 329 (115,419)
Citation 9

Abstract:

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Trading cost, Decimal pricing, Quote clustering, Averaging method

Trading Costs and Quote Clustering on the NYSE and NASDAQ after Decimalization

Posted: 07 Dec 2003
State University of New York at Buffalo - School of Management, University of Mississippi - Department of Finance and University of Mississippi - Department of Finance

Abstract:

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33.

The Noninformation Cost of Trading and Its Relative Importance in Asset Pricing

Review of Asset Pricing Studies, Forthcoming
Number of pages: 59 Posted: 02 Aug 2015 Last Revised: 11 Feb 2016
Kee H. Chung and Sahn-Wook Huh
State University of New York at Buffalo - School of Management and State University of New York (SUNY) - Department of Finance
Downloads 321 (119,283)
Citation 3

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Order Flows, Lee-Ready Method, Holden-Jacobsen Algorithm, Trading Costs, Order-Processing Cost, Inventory-Holding Cost, Non-Information Cost, Information Asymmetry, Adverse-Section Cost, Asset Pricing, Equilibrium Returns

34.
Downloads 316 (121,359)
Citation 8

Tick Size, Order Handling Rules, and Trading Costs

Number of pages: 26 Posted: 09 Apr 2003
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Indiana University Purdue University Fort Wayne
Downloads 303 (126,177)
Citation 8

Abstract:

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Tick Size, Order Handling Rules, and Trading Costs

Number of pages: 16 Posted: 07 Jan 2005
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Indiana University Purdue University Fort Wayne
Downloads 13 (720,090)
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Tick Size, Order Handling Rules, and Trading Costs

Financial Management, Forthcoming
Posted: 09 Apr 2003
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Indiana University Purdue University Fort Wayne

Abstract:

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35.
Downloads 310 (123,768)
Citation 5

Making a Market with Spreads and Depths

Number of pages: 34 Posted: 09 Apr 2003
Kee H. Chung and Xin Zhao
State University of New York at Buffalo - School of Management and Pennsylvania State University (Erie) - The Behrend College
Downloads 286 (134,161)

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Making a Market with Spreads and Depths

Number of pages: 28 Posted: 23 Sep 2004
Kee H. Chung and Xin Zhao
State University of New York at Buffalo - School of Management and Pennsylvania State University (Erie) - The Behrend College
Downloads 24 (632,961)
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36.

Hedge Fund Activism and Corporate M&A Decisions

Number of pages: 78 Posted: 29 Aug 2018 Last Revised: 28 Nov 2020
Szu-Yin (Jennifer) Wu and Kee H. Chung
State University of New York, University at Buffalo and State University of New York at Buffalo - School of Management
Downloads 307 (125,081)
Citation 1

Abstract:

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Hedge Fund Activism, M&A Performance, Schedule 13D Filings, Event Study, Abnormal Stock Returns, Selection Bias

37.

Volatility, Market Structure, and the Bid-Ask Spread

Number of pages: 45 Posted: 11 Jun 2008
Kee H. Chung and Youngsoo Kim
State University of New York at Buffalo - School of Management and University of Regina
Downloads 291 (132,427)
Citation 1

Abstract:

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Dealer, Specialist, Market structure, Bid-ask spreads, Fair and orderly markets

38.

Corporate Governance and the Informational Efficiency of Prices

Financial Management, Forthcoming
Number of pages: 40 Posted: 16 Mar 2011 Last Revised: 11 Nov 2015
Choonsik Lee, Kee H. Chung and Sean Yang
University of Rhode Island, State University of New York at Buffalo - School of Management and State University of New York at Buffalo - School of Management
Downloads 285 (135,330)
Citation 2

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Corporate governance, Transparency, Market efficiency, Liquidity

39.

Transparency and Market Quality: Evidence from SuperMontage

Journal of Financial Intermediation, Forthcoming
Number of pages: 38 Posted: 27 Dec 2007 Last Revised: 31 May 2009
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Kansas State University - Department of Finance
Downloads 283 (136,301)
Citation 1

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Execution costs, Market quality, Liquidity, Market transparency, Market participants, Quote competition

40.

Liquidity and Returns to Target Shareholders in the Market for Corporate Control: Evidence from the U.S. Markets

Journal of Business Finance and Accounting, Forthcoming
Number of pages: 49 Posted: 25 Mar 2008 Last Revised: 28 Nov 2012
Kaun Y. Lee and Kee H. Chung
Chung-Ang University and State University of New York at Buffalo - School of Management
Downloads 282 (136,778)

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Mergers, Tender offers, Bid-ask spread, Liquidity premium, Abnormal returns

41.

Time Diversification: Definitions and Some Closed-Form Solutions

Journal of Banking and Finance, Forthcoming
Number of pages: 32 Posted: 27 Dec 2007 Last Revised: 19 Dec 2008
Kee H. Chung, William T. Smith and Tao L. Wu
State University of New York at Buffalo - School of Management, University of Memphis - Economics and Illinois Institute of Technology
Downloads 260 (148,573)

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Time diversification, Portfolio choice, Asset allocation

42.

Penny Pricing and the Components of Spread and Depth Changes

Number of pages: 39 Posted: 31 Oct 2003
State University of New York at Buffalo - School of Management, Nanyang Technological University (NTU) and Singapore Management University - Lee Kong Chian School of Business
Downloads 258 (149,759)
Citation 3

Abstract:

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binding constraint, tick size, stepping ahead, spreads, depths, decimal pricing

43.

Investment Duration and Corporate Governance

Number of pages: 44 Posted: 17 Mar 2012 Last Revised: 29 Aug 2014
Youngjoo Lee and Kee H. Chung
State University of New York (SUNY) - Buffalo and State University of New York at Buffalo - School of Management
Downloads 216 (177,849)
Citation 3

Abstract:

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institutional investors, corporate governance, investment duration, monitoring incentive

44.

Foreign Ownership and Stock Market Liquidity

Number of pages: 43 Posted: 13 Feb 2015 Last Revised: 20 Oct 2017
Jieun Lee and Kee H. Chung
The Bank of Korea and State University of New York at Buffalo - School of Management
Downloads 215 (178,627)
Citation 1

Abstract:

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Foreign investors, Information asymmetry, Price impact, Spread, Adverse selection component, Non-information cost of trading, Illiquidity

Price and Quantity Quotes on NASDAQ: A Study of Dealer Quotation Behavior

Number of pages: 34 Posted: 23 Sep 2003
Kee H. Chung and Xin Zhao
State University of New York at Buffalo - School of Management and Pennsylvania State University (Erie) - The Behrend College
Downloads 213 (179,905)
Citation 6

Abstract:

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Spreads, Depths, Dealer quotes, NASDAQ, Liquidity providers

Price and Quantity Quotes on Nasdaq: A Study of Dealer Quotation Behavior

Posted: 07 Dec 2003
Kee H. Chung and Xin Zhao
State University of New York at Buffalo - School of Management and Pennsylvania State University (Erie) - The Behrend College

Abstract:

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46.

Insider Trading and the Bid-Ask Spread

Financial Review, August 1998
Number of pages: 20 Posted: 20 Jul 1998 Last Revised: 16 Dec 2009
Charlie Charoenwong and Kee H. Chung
Nanyang Technological University (NTU) and State University of New York at Buffalo - School of Management
Downloads 212 (180,953)

Abstract:

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47.

Liquidity and Information Flow Around Monetary Policy Announcements

Journal of Money, Credit and Banking, Forthcoming
Number of pages: 49 Posted: 09 Nov 2010 Last Revised: 07 Aug 2012
Kee H. Chung, John Elder and Jang-Chul Kim
State University of New York at Buffalo - School of Management, Colorado State University and Northern Kentucky University - Haile/US Bank College of Business
Downloads 206 (185,827)
Citation 1

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Monetary Policy, Liquidity, Spread, Depth, Event Study, Market Efficiency

48.

The Dynamics of Dealer Markets and Trading Costs

Number of pages: 31 Posted: 15 Nov 2004
Kee H. Chung and Youngsoo Kim
State University of New York at Buffalo - School of Management and University of Regina
Downloads 190 (199,972)
Citation 1

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Dealer market, market concentration, competition, turbulence, market structure, bid-ask spreads

49.

Can Sub-Penny Pricing Reduce Trading Costs?

Number of pages: 37 Posted: 22 Oct 2004
Bidisha Chakrabarty and Kee H. Chung
Saint Louis University - Richard A. Chaifetz School of Business and State University of New York at Buffalo - School of Management
Downloads 180 (209,773)
Citation 2

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Decimalization, Sub-penny Quotation, Markov Chain Monte Carlo, Quote Aggressiveness, Spreads, Electronic Communications Networks

50.

Quote-Based Competition, Market Share, and Execution Quality in Nasdaq-Listed Securities

Journal of Banking and Finance, Forthcoming
Number of pages: 43 Posted: 02 Jan 2007
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Indiana University Purdue University Fort Wayne
Downloads 173 (217,045)

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Dealer market share, Quote aggressiveness, Order preferencing, Decimalization, SuperSOES, SuperMontage

51.

Does Internalization Diminish the Impact of Quote Aggressiveness on Dealer Market Share?

Number of pages: 37 Posted: 24 Aug 2004
State University of New York at Buffalo - School of Management, Indiana University Purdue University Fort Wayne and U.S. Securities and Exchange Commission
Downloads 166 (224,805)
Citation 3

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Dealer market share, Market concentration, Herfindahl-index, Internalization, Quote aggressiveness, Decimalization

52.

Liquidity and Quote Clustering in a Market with Multiple Tick Sizes

Journal of Financial Research, Forthcoming
Number of pages: 25 Posted: 04 May 2004
State University of New York at Buffalo - School of Management, Tongji University - School of Economics and Management and Sasin GIBA
Downloads 165 (225,946)
Citation 2

Abstract:

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tick size, liquidity, spread, depth, quote clustering

53.

The Dynamics of Quote Adjustments

Journal of Banking and Finance, Forthcoming
Number of pages: 45 Posted: 27 Dec 2007 Last Revised: 22 Jul 2008
Kee H. Chung, Chairat Chuwonganant and Jing Jiang
State University of New York at Buffalo - School of Management, Kansas State University - Department of Finance and Sacred Heart University - Jack Welch College of Business, Department of Economics and Finance
Downloads 154 (239,497)
Citation 2

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Spreads, Depths, Market structure, Market efficiency, Tick size, Quote revision, Adverse- selection costs

54.

On the Relation Between Intellectual Collaboration and Intellectual Output: Evidence from the Finance Academe

Number of pages: 51 Posted: 26 May 2008
Kee H. Chung, Raymond Cox and Kenneth Kim
State University of New York at Buffalo - School of Management, Thompson Rivers University and Tongji University - School of Economics and Management
Downloads 140 (258,619)
Citation 4

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intellectual collaboration, coauthors, citation, Google Scholar, paper quality

55.

The Impact of Security Analysts' Monitoring and Marketing Functions on the Market Value of Firms

Journal of Financial and Quantitative Analysis (JFQA), December 1996
Number of pages: 21 Posted: 25 Nov 1996 Last Revised: 29 Nov 2009
Kee H. Chung and Hoje Jo
State University of New York at Buffalo - School of Management and Santa Clara University
Downloads 134 (269,117)
Citation 15

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56.

Information-Based Trading and the Bid-Ask Spread

Number of pages: 23 Posted: 15 Sep 2010
Kee H. Chung and Jing Jiang
State University of New York at Buffalo - School of Management and Sacred Heart University - Jack Welch College of Business, Department of Economics and Finance
Downloads 129 (275,369)

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Spread, Specialist, Passive vs. Active Equilibrium, Informed Trading

57.

Hidden Liquidity, Market Quality, and Order Submission Strategies

Number of pages: 84 Posted: 30 Jun 2020 Last Revised: 02 Jul 2021
Albert J. Lee and Kee H. Chung
Truman State University - Department of Business Administration and State University of New York at Buffalo - School of Management
Downloads 119 (292,290)

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Hidden liquidity, Tick size pilot program, Undisclosed orders, Dark pools, Order aggressiveness, Algorithmic trading, Pricing efficiency

58.

Executive Ownership, Corporate Value, and Executive Compensation: A Unifying Framework

Journal of Banking and Finance, Vol. 20, 1996
Number of pages: 25 Posted: 15 Dec 2009
Kee H. Chung and Stephen W. Pruitt
State University of New York at Buffalo - School of Management and University of Missouri at Kansas City - Department of Finance, Information Management, and Strategy
Downloads 98 (333,629)
Citation 4

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Executive ownership, Tobin's q, Executive compensation

59.

Quantity vs. Quality: Impact on Scholarly Contribution

Central Michigan University Working Paper No. 10/17/03
Number of pages: 17 Posted: 20 Dec 2003 Last Revised: 15 Apr 2016
Kee H. Chung, Raymond Cox and John B. Mitchell
State University of New York at Buffalo - School of Management, Thompson Rivers University and Central Michigan University - Department of Finance and Law
Downloads 92 (347,260)

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Articles published, Citations, Relationship between publications and citations

Antitakeover Statutes and Internal Corporate Governance

Corporate Governance: An International Review, Forthcoming
Number of pages: 56 Posted: 10 Dec 2015
Choonsik Lee and Kee H. Chung
University of Rhode Island and State University of New York at Buffalo - School of Management
Downloads 91 (352,598)

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Corporate Governance, Antitakeover Statutes, Internal Monitoring

Antitakeover Statutes and Internal Corporate Governance

Corporate Governance: An International Review, Vol. 24, Issue 5, pp. 468-489, 2016
Number of pages: 22 Posted: 06 Sep 2016
Choonsik Lee and Kee H. Chung
University of Rhode Island and State University of New York at Buffalo - School of Management
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Corporate Governance, Antitakeover Statutes, Internal Monitoring

61.

Is Informed Trading Different Across Investor Types?

Number of pages: 33 Posted: 25 Aug 2015
Hyejin Park, Kee H. Chung and In Joon Kim
Yonsei University - School of Business, State University of New York at Buffalo - School of Management and Yonsei University - School of Business
Downloads 90 (352,171)

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Informed trading, Investor types, PIN, Trade initiator, Institutional investors, Foreign investors

62.

COVID-19 and the Stock Market: Liquidity, Pricing Efficiency, and Trading

Number of pages: 52 Posted: 09 Mar 2021 Last Revised: 26 Apr 2021
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Kansas State University - Department of Finance
Downloads 89 (354,581)

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COVID-19, Liquidity, Information asymmetry, Pricing efficiency, Trading, VIX

63.

Voting Methods for Director Election, Monitoring Costs, and Institutional Ownership

Journal of Banking and Finance, Forthcoming
Number of pages: 47 Posted: 21 Jul 2018 Last Revised: 22 Feb 2020
Kee H. Chung and Choonsik Lee
State University of New York at Buffalo - School of Management and University of Rhode Island
Downloads 89 (354,581)

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Majority Voting; Monitoring Costs; Institutional Investors; Director Accountability

64.

Corporate Innovation, Likelihood to be Acquired, and Takeover Premiums

Journal of Banking and Finance, Forthcoming
Number of pages: 52 Posted: 16 Aug 2019 Last Revised: 11 Sep 2019
Szu-Yin (Jennifer) Wu and Kee H. Chung
State University of New York, University at Buffalo and State University of New York at Buffalo - School of Management
Downloads 85 (364,821)
Citation 1

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Innovation, Patents, Patent citations, Acquisitions, Takeover premium

65.

Foreign Ownership and Stock Market Liquidity

Bank of Korea Working Paper No. 2015-15
Number of pages: 43 Posted: 05 Jun 2015 Last Revised: 20 Oct 2017
Jieun Lee and Kee H. Chung
The Bank of Korea and State University of New York at Buffalo - School of Management
Downloads 73 (398,410)
Citation 2

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Foreign investors, Information asymmetry, Price impact, Spread, Adverse selection component, Non-information cost of trading, Illiquidity

66.

Security Analysis, Dealer-Analyst Collaboration, and Market Quality: Evidence from the Nasdaq Market in the USA

Journal of Business Finance & Accounting, Forthcoming
Number of pages: 43 Posted: 05 Jul 2012
Kee H. Chung, Mingsheng Li and Xin Zhao
State University of New York at Buffalo - School of Management, Bowling Green State University - College of Business Administration and Pennsylvania State University (Erie) - The Behrend College
Downloads 61 (437,670)

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Analyst following, Dealers, Spreads, Depths, Execution quality, Price impact, Adverse selection cost, Quote aggressiveness, Trading costs, SEC Rule 605

67.

Pre-Opening Price Indications and Market Quality: Evidence from NYSE Rule 48

Number of pages: 41 Posted: 23 Apr 2021 Last Revised: 02 Aug 2021
State University of New York at Buffalo - School of Management, Kansas State University - Department of Finance and University of Regina - Faculty of Business Administration
Downloads 52 (471,210)

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Pre-opening price indications, NYSE, designated market maker, opening delay, liquidity, market volatility, Rule 48

Exit, Survival, and Competitive Equilibrium in Dealer Markets

Number of pages: 36 Posted: 11 Aug 2013
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Kansas State University - Department of Finance
Downloads 49 (491,950)

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market structure, dealer competition, competitive advantages, quote aggressiveness, bid-ask spread, market share, survival probability, exit decision

Exit, Survival, and Competitive Equilibrium in Dealer Markets

Financial Review, Vol. 49, Issue 3, pp. 435-460, 2014
Number of pages: 26 Posted: 26 Jul 2014
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Kansas State University - Department of Finance
Downloads 1 (829,489)
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market structure, dealer competition, competitive advantages, quote aggressiveness, bid‐ask spread, market share, survival probability, exit decision

69.

Passive Blockholders, Informational Efficiency of Prices, and Firm Value

Review of Financial Economics, Forthcoming
Number of pages: 41 Posted: 10 Oct 2019 Last Revised: 08 Jan 2020
Kee H. Chung, Choonsik Lee and Carl Hsin-han Shen
State University of New York at Buffalo - School of Management, University of Rhode Island and Macquarie University, Macquarie Business School
Downloads 49 (483,445)

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Passive blockholders, Tobin’s q ratio, Informational efficiency of asset price, Liquidity, Causal mediation analysis

70.

The Concentration of Commercial Success in Popular Music: An Analysis of the Distribution of Gold Records

Journal of Cultural Economics, 1995, Vol. 19, No. 4, 333-340
Number of pages: 14 Posted: 24 Feb 2013
Raymond Cox, James Felton and Kee H. Chung
Thompson Rivers University, Central Michigan University - Department of Finance and Law and State University of New York at Buffalo - School of Management
Downloads 49 (483,445)

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Lotka's Law, Generalized Lotka's Law, gold records, music industry, commercial success

71.

Foreign and Local Institutional Ownership and the Speed of Price Adjustment

Journal of Business Finance & Accounting, Vol. 34, Issue 9-10, pp. 1569-1595, November/December 2007
Number of pages: 27 Posted: 11 Dec 2007
Young K. Park and Kee H. Chung
affiliation not provided to SSRN and State University of New York at Buffalo - School of Management
Downloads 8 (733,398)
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72.

Liquidity and Returns to Target Shareholders in the Market for Corporate Control: Evidence from the US Markets

Journal of Business Finance & Accounting, Vol. 40, Issue 1-2, pp. 142-171, 2013
Number of pages: 30 Posted: 27 Feb 2013
Kaun Y. Lee and Kee H. Chung
affiliation not provided to SSRN and State University of New York at Buffalo - School of Management
Downloads 1 (793,160)
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 mergers, tender offers, bid‐ask spread, liquidity premium, abnormal returns

73.

Security Analysis, Dealer‐Analyst Collaboration, and Market Quality: Evidence from the NASDAQ Market in the USA

Journal of Business Finance & Accounting, Vol. 39, Issue 9‐10, pp. 1376-1402, 2012
Number of pages: 27 Posted: 12 Jan 2013
Kee H. Chung, Mingsheng Li and Xin Zhao
State University of New York at Buffalo - School of Management, Bowling Green State University - College of Business Administration and University of International Business and Economics (UIBE)
Downloads 1 (793,160)
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NASDAQ, analyst following, dealers, spreads, depths, execution quality, price impact, adverse selection cost, quote aggressiveness, trading costs, SEC Rule 605

74.

Information-Based Trading and Price Improvement

Journal of Business Finance & Accounting, Vol. 36, Issue 5-6, pp. 754-773, June/July 2009
Number of pages: 20 Posted: 13 Oct 2009
Kaun Y. Lee and Kee H. Chung
affiliation not provided to SSRN and State University of New York at Buffalo - School of Management
Downloads 1 (793,160)
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75.

Output Decision Under Demand Uncertainty with Stochastic Production Function: A Contingent Claims Approach

Management Science, Vol. 36, No. 11, pp. 1311-1328, November 1990
Posted: 15 Dec 2009
Kee H. Chung
State University of New York at Buffalo - School of Management

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76.

Investment Opportunities and Market Reaction To Capital Expenditure Decisions

Journal of Banking and Finance, Vol. 22, 1998
Posted: 15 Dec 2009
Kee H. Chung, Peter Wright and Charlie Charoenwong
State University of New York at Buffalo - School of Management, University of Memphis - Fogelman College of Business and Economics and Nanyang Technological University (NTU)

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Investment opportunities, Tobin's q, Event study, Capital expenditure

77.

Investment Options, Assets in Place, and the Risk of Stocks

Financial Management, Vol. 20, No. 3, pp. 21-33, Autumn, 1991
Posted: 15 Dec 2009
Kee H. Chung and Charlie Charoenwong
State University of New York at Buffalo - School of Management and Nanyang Technological University (NTU)

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78.

Risk in Inventory Models: The Case of the Newsboy Problem - Optimality Conditions

The Journal of the Operational Research Society, Vol. 41, No. 2, pp. 173-176, February 1990
Posted: 15 Dec 2009
Kee H. Chung
State University of New York at Buffalo - School of Management

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finance, inventory, risk

79.

Patterns of Research Output and Author Concentration in the Economics Literature Capital

Review of Economics and Statistics, Vol. 73, No. 4, 1991
Posted: 15 Dec 2009
Raymond Cox and Kee H. Chung
Thompson Rivers University and State University of New York at Buffalo - School of Management

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academic output, bibliometrics

80.

Production of Information, Information Asymmetry, and the Bid-Ask Spread: Empirical Evidence from Analysts’ Forecasts

Journal of Banking and Finance, Vol. 19, 1995
Posted: 14 Dec 2009
State University of New York at Buffalo - School of Management, University of Memphis - Fogelman College of Business and Economics, University of Memphis - Fogelman College of Business and Economics and affiliation not provided to SSRN

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information asymmetry, bid-ask spread, analysts' forecast

81.

Corporate Ownership and the Value of a Vote in an Emerging Market

Journal of Corporate Finance, Vol. 5, No. 1, 1999
Posted: 12 Dec 2009
Kee H. Chung and Jeong-Kuk Kim
State University of New York at Buffalo - School of Management and affiliation not provided to SSRN

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Voting right, Shapley value, Oceanic game, Ownership structure

82.

Specialists, Limit-Order Traders, and the Components of the Bid-Ask Spread

Posted: 06 Feb 2004
State University of New York at Buffalo - School of Management, University of Mississippi - Department of Finance and University of Mississippi - Department of Finance

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Limit-order, bid-ask spread, NYSE specialists, spread components

83.

Adverse-Selection Costs and the Probability of Information-Based Trading

Posted: 22 Jul 2003
Kee H. Chung and Mingsheng Li
State University of New York at Buffalo - School of Management and Bowling Green State University - College of Business Administration

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