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

  • State University of New York at Buffalo - School of Management

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    • Tel: 716-645-3262
    • Fax: 716-645-3823
SCHOLARLY PAPERS

82

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36,863

SSRN CITATIONS
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463

CROSSREF CITATIONS

505

Scholarly Papers (82)

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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 4,863 (3,323)
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 College of Business
Downloads 2,190 (12,235)
Citation 28

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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 and Hao Zhang
State University of New York at Buffalo - School of Management and Rochester Institute of Technology (RIT) - Saunders College of Business
Downloads 1,991 (14,253)
Citation 12

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

4.

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

Downloads 1,949 (14,762)

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 1,949 (14,498)

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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

5.

Citation Patterns in the Finance Literature

Downloads 1,939 (14,856)

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 1,939 (14,590)
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 and Hao Zhang
State University of New York at Buffalo - School of Management and Rochester Institute of Technology (RIT) - Saunders College of Business
Downloads 1,143 (32,951)
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 928 (44,237)

Abstract:

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

8.

Information Asymmetry and Corporate Cash Holdings

Number of pages: 49 Posted: 05 Mar 2011 Last Revised: 20 Nov 2015
Kee H. Chung, Jang-Chul Kim, Young Sang Kim and Hao Zhang
State University of New York at Buffalo - School of Management, Northern Kentucky University - Haile College of Business, Northern Kentucky University - Haile/US Bank College of Business and Rochester Institute of Technology (RIT) - Saunders College of Business
Downloads 869 (48,377)
Citation 2

Abstract:

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Cash Holdings, Information Asymmetry, Corporate Governance, Firm Value

9.

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 867 (48,541)
Citation 6

Abstract:

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Quote revisions, asymmetric information, price impact, trade autocorrelation

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 816 (52,810)
Citation 2

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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 721 (62,306)
Citation 2

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

12.

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 Hanyang University
Downloads 648 (71,508)
Citation 1

Abstract:

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

13.

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

Downloads 596 (79,298)

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 596 (78,323)

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

14.

Limit Orders and the Bid-Ask Spread

Downloads 585 (81,101)

Limit Orders and the Bid-Ask Spread

Number of pages: 38 Posted: 03 Jun 2003
Kee H. Chung, Bonnie F. Van Ness and Robert A. Van Ness
State University of New York at Buffalo - School of Management, University of Mississippi - Department of Finance and University of Mississippi - Department of Finance
Downloads 585 (80,127)
Citation 50

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
Kee H. Chung, Bonnie F. Van Ness and Robert A. Van Ness
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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15.

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, Hanyang University and State University of New York at Buffalo - School of Management
Downloads 574 (83,108)
Citation 41

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Tick size; Pilot program; Pricing efficiency; Liquidity spillover

16.

Order Preferencing and Market Quality on NASDAQ Before and after Decimalization

Downloads 568 (84,208)

Order Preferencing and Market Quality on NASDAQ Before and after Decimalization

Number of pages: 43 Posted: 07 May 2003
Kee H. Chung, Chairat Chuwonganant and Tim McCormick
State University of New York at Buffalo - School of Management, Indiana University Purdue University Fort Wayne and U.S. Securities and Exchange Commission
Downloads 568 (83,221)
Citation 20

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Order Preferencing and Market Quality on NASDAQ Before and after Decimalization

Posted: 07 May 2003
Kee H. Chung, Chairat Chuwonganant and Tim McCormick
State University of New York at Buffalo - School of Management, Indiana University Purdue University Fort Wayne and U.S. Securities and Exchange Commission

Abstract:

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17.

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

Number of pages: 33 Posted: 27 Jul 2001
Kee H. Chung, Bonnie F. Van Ness and Robert A. Van Ness
State University of New York at Buffalo - School of Management, University of Mississippi - Department of Finance and University of Mississippi - Department of Finance
Downloads 544 (88,862)
Citation 17

Abstract:

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liquidity, spreads, decimal pricing, quote clustering

18.

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 540 (89,724)
Citation 11

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

19.

Tick Size and Quote Revisions on the NYSE

Downloads 536 (90,594)
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 536 (89,593)
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

20.

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 533 (91,224)
Citation 16

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

21.

Assets in Place, Growth Opportunities, and IPO Returns

Downloads 523 (93,392)
Citation 4

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 492 (99,520)

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 31 (812,015)

Abstract:

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22.

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 480 (103,647)
Citation 1

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Spreads, depths, time precedence, minimum price variation

23.

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 464 (107,900)
Citation 6

Abstract:

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

24.

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 459 (109,289)
Citation 1

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

25.

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 432 (117,353)

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

26.

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

Downloads 424 (119,989)
Citation 13

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
Kee H. Chung, Bonnie F. Van Ness and Robert A. Van Ness
State University of New York at Buffalo - School of Management, University of Mississippi - Department of Finance and University of Mississippi - Department of Finance
Downloads 424 (118,786)
Citation 13

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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
Kee H. Chung, Bonnie F. Van Ness and Robert A. Van Ness
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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Limit order, bid-ask spread, collusion, NYSE specialists, Nasdaq dealers

27.

Security Analysis and Market Making

Downloads 420 (121,292)

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 420 (120,087)

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

28.

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 409 (125,064)
Citation 2

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

29.

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
Kee H. Chung, Bonnie F. Van Ness and Robert A. Van Ness
State University of New York at Buffalo - School of Management, University of Mississippi - Department of Finance and University of Mississippi - Department of Finance
Downloads 397 (129,407)
Citation 7

Abstract:

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liquidity, spreads, depths, quote clustering, collusion

30.

Effects of Earnings Announcements on Liquidity and Price Efficiency: New Evidence from ASC 606

Number of pages: 39 Posted: 27 Apr 2020 Last Revised: 07 Aug 2023
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Kansas State University - Department of Finance
Downloads 381 (135,948)
Citation 1

Abstract:

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

31.

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 380 (135,948)
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

32.

Conservatism and Representativeness Heuristic in Peer Reviews: Evidence from the Finance Literature 1946-2020

Number of pages: 71 Posted: 14 Nov 2022 Last Revised: 02 Dec 2023
Kee H. Chung and Choonsik Lee
State University of New York at Buffalo - School of Management and University of Rhode Island
Downloads 363 (143,016)

Abstract:

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Bibliometrics, Peer review, Conservatism bias, Representativeness bias, Yule-Simon distribution

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 356 (146,082)
Citation 6

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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.

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

Downloads 352 (147,860)

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

Number of pages: 31 Posted: 02 Oct 2003
Kee H. Chung, Bonnie F. Van Ness and Robert A. Van Ness
State University of New York at Buffalo - School of Management, University of Mississippi - Department of Finance and University of Mississippi - Department of Finance
Downloads 352 (146,809)
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
Kee H. Chung, Bonnie F. Van Ness and Robert A. Van Ness
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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35.

Tick Size, Order Handling Rules, and Trading Costs

Downloads 345 (151,118)
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 329 (157,960)
Citation 7

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 16 (954,384)

Abstract:

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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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36.

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 332 (157,449)
Citation 2

Abstract:

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

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 312 (168,284)
Citation 1

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

38.

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 307 (171,093)

Abstract:

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39.

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 305 (172,257)
Citation 2

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Corporate governance, Transparency, Market efficiency, Liquidity

40.

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 301 (174,652)
Citation 3

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

41.

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 295 (178,424)

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

42.

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 292 (180,322)

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Time diversification, Portfolio choice, Asset allocation

43.

Penny Pricing and the Components of Spread and Depth Changes

Number of pages: 39 Posted: 31 Oct 2003
Kee H. Chung, Charlie Charoenwong and David K. Ding
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 282 (186,859)
Citation 3

Abstract:

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

44.

Hidden Liquidity, Market Quality, and Order Submission Strategies

Number of pages: 118 Posted: 30 Jun 2020 Last Revised: 25 Apr 2022
Albert J. Lee and Kee H. Chung
Hanyang University and State University of New York at Buffalo - School of Management
Downloads 276 (191,021)

Abstract:

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Hidden liquidity, Tick Size Pilot Program, Undisclosed orders, Dark pools, Order aggressiveness, Algorithmic trading, Pricing efficiency

45.

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 244 (215,921)
Citation 1

Abstract:

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

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 233 (225,884)
Citation 3

Abstract:

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47.

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 232 (226,853)
Citation 5

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institutional investors, corporate governance, investment duration, monitoring incentive

48.

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

Downloads 231 (227,792)
Citation 6

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 231 (226,990)
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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49.

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 College of Business
Downloads 227 (231,601)
Citation 5

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

50.

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

Journal of Financial Markets, Forthcoming
Number of pages: 83 Posted: 09 Mar 2021 Last Revised: 25 Jan 2023
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Kansas State University - Department of Finance
Downloads 207 (252,344)
Citation 4

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COVID-19, Liquidity, Trading floor, Informed trading, Price efficiency

51.

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 206 (253,474)
Citation 1

Abstract:

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

52.

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

Number of pages: 37 Posted: 24 Aug 2004
Kee H. Chung, Chairat Chuwonganant and Tim McCormick
State University of New York at Buffalo - School of Management, Indiana University Purdue University Fort Wayne and U.S. Securities and Exchange Commission
Downloads 199 (261,629)
Citation 3

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

53.

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 191 (271,443)
Citation 2

Abstract:

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

54.

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 190 (272,717)
Citation 1

Abstract:

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

55.

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 186 (277,858)

Abstract:

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

56.

Liquidity and Quote Clustering in a Market with Multiple Tick Sizes

Journal of Financial Research, Forthcoming
Number of pages: 25 Posted: 04 May 2004
Kee H. Chung, Kenneth Kim and Pattanaporn Chatjuthamard
State University of New York at Buffalo - School of Management, Tongji University - School of Economics and Management and Sasin GIBA
Downloads 176 (291,667)
Citation 2

Abstract:

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tick size, liquidity, spread, depth, quote clustering

57.

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 176 (291,667)
Citation 33

Abstract:

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58.

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 174 (294,654)
Citation 2

Abstract:

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

59.

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 170 (300,540)

Abstract:

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

60.

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 158 (319,830)
Citation 4

Abstract:

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Innovation, Patents, Patent citations, Acquisitions, Takeover premium

61.

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 156 (323,299)
Citation 5

Abstract:

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

62.

Social Media and the Stock Market: Trading, Price Efficiency, and Liquidity

Number of pages: 56 Posted: 01 Sep 2023 Last Revised: 06 Sep 2023
Kee H. Chung and Guan-Jhen (Jenny) Wu
State University of New York at Buffalo - School of Management and University at Buffalo (SUNY) - School of Management
Downloads 155 (325,072)

Abstract:

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WallStreetBets, Market microstructure, Bid-ask spread, Price impact, Adverse selection costs, Inventory risk, Order-processing costs, Vector autoregression models, Retail trades, Meme stocks

63.

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 132 (369,219)
Citation 4

Abstract:

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Executive ownership, Tobin's q, Executive compensation

64.

Tick Size and Price Efficiency: Further Evidence from the Tick Size Pilot Program

Number of pages: 48 Posted: 27 Apr 2022 Last Revised: 03 Mar 2023
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Kansas State University - Department of Finance
Downloads 119 (399,077)

Abstract:

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Liquidity, Tick size, Pilot program, Informed trading, Price efficiency, Trader migration

65.

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 118 (401,525)
Citation 1

Abstract:

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Majority Voting; Monitoring Costs; Institutional Investors; Director Accountability

66.

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 111 (419,902)
Citation 2

Abstract:

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

67.

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 111 (419,902)

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Articles published, Citations, Relationship between publications and citations

68.

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 107 (431,132)

Abstract:

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Corporate Governance, Antitakeover Statutes, Internal Monitoring

69.

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
Kee H. Chung, Chairat Chuwonganant and Youngsoo Kim
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 86 (497,993)

Abstract:

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

70.

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 82 (512,512)
Citation 2

Abstract:

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

71.

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 69 (565,089)

Abstract:

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

72.

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 66 (578,674)

Abstract:

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

73.

Exit, Survival, and Competitive Equilibrium in Dealer Markets

Number of pages: 36 Posted: 11 Aug 2013 Last Revised: 26 Jan 2023
Kee H. Chung and Chairat Chuwonganant
State University of New York at Buffalo - School of Management and Kansas State University - Department of Finance
Downloads 64 (587,748)

Abstract:

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

74.

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

Abstract:

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75.

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)

Abstract:

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

76.

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)

Abstract:

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77.

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

Abstract:

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finance, inventory, risk

78.

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

Abstract:

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academic output, bibliometrics

79.

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
Kee H. Chung, Thomas H. McInish, Robert Wood and Donald J. Wyhowski
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

Abstract:

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information asymmetry, bid-ask spread, analysts' forecast

80.

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

Abstract:

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Voting right, Shapley value, Oceanic game, Ownership structure

81.

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

Posted: 06 Feb 2004
Kee H. Chung, Bonnie F. Van Ness and Robert A. Van Ness
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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Limit-order, bid-ask spread, NYSE specialists, spread components

82.

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

Abstract:

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