Jongsub Lee

Seoul National University

Associate Professor

Kwanak-gu

Seoul, 151-742

Korea, Republic of (South Korea)

University of Florida - Warrington College of Business Administration

Visiting Scholar

Department of Finance Insurance & Real Estate

P.O. Box 117168

Gainesville, FL 32611-7168

United States

SCHOLARLY PAPERS

22

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Rank 7,256

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Top 7,256

in Total Papers Downloads

7,604

SSRN CITATIONS
Rank 11,660

SSRN RANKINGS

Top 11,660

in Total Papers Citations

52

CROSSREF CITATIONS

52

Scholarly Papers (22)

1.

The Wisdom of Crowds in FinTech: Evidence from Initial Coin Offerings

Number of pages: 75 Posted: 21 Jun 2018 Last Revised: 09 Jan 2021
Jongsub Lee, Tao Li and Donghwa Shin
Seoul National University, University of Florida - Department of Finance, Insurance and Real Estate and University of North Carolina at Chapel Hill, Kenan-Flagler Business School
Downloads 1,352 (17,564)
Citation 31

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Crowdsourcing, Wisdom of Crowds, ICO, Blockchain, FinTech, Analyst expertise, Analyst incentives

2.

CDS Momentum: Slow Moving Credit Ratings and Cross-Market Spillovers

Number of pages: 63 Posted: 13 Apr 2014 Last Revised: 17 Aug 2019
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 638 (50,647)
Citation 5

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Credit default swaps; CDS returns; Credit ratings; Momentum; Spillover; Endogenous liquidity; Credit risk; Information flows

3.

Social Networks in the Global Banking Sector

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 70 Posted: 02 Jul 2013 Last Revised: 08 Oct 2017
Joel F. Houston, Jongsub Lee and Felix Suntheim
University of Florida - Department of Finance, Insurance and Real Estate, Seoul National University and International Monetary Fund (IMF) - Monetary and Capital Markets Department
Downloads 582 (57,041)
Citation 6

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Top global banks, director social networks, pairwise connection, network centrality, loan syndication, systemic risk, IFRS, bank regulation, financial crisis

4.

On the Financial Efficiency and Control in Business Groups

Number of pages: 73 Posted: 07 Apr 2010 Last Revised: 04 Jul 2011
Jongsub Lee
Seoul National University
Downloads 473 (73,752)
Citation 3

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Control benefits, internal capital, capital structure, dividends, pyramid, horizontal structure, chaebols

5.

When do CDS Spreads Lead? Rating Events, Private Entities, and Firm-specific Information Flows

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 81 Posted: 31 Mar 2017 Last Revised: 01 Jun 2018
Jongsub Lee, Andy Naranjo and Guner Velioglu
Seoul National University, University of Florida - Warrington College of Business Administration and Loyola University Chicago - Department of Finance
Downloads 440 (80,467)
Citation 16

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CDS versus stocks and bonds, credit ratings, firm-specific credit information flow, lead-lag relations, private firms

Related Securities and the Cross-Section of Stock Return Momentum: Evidence From Credit Default Swaps (CDS)

Number of pages: 97 Posted: 09 Aug 2016 Last Revised: 03 Jan 2019
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 361 (100,370)

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Related securities, stock return momentum, momentum crashes, credit default swaps, multi-market momentum signals, aligned/misaligned momentum, asset return momentum, asset substitution, limits to arbitrage, crash risk management

Related Securities and the Cross-Section of Stock Return Momentum: Evidence From Credit Default Swaps (CDS)

Paris December 2016 Finance Meeting EUROFIDAI - AFFI
Number of pages: 98 Posted: 02 Jun 2016 Last Revised: 02 Mar 2021
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 66 (412,621)
Citation 2

Abstract:

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Related securities, stock return momentum, momentum crashes, credit default swaps, multi-market momentum signals, aligned/misaligned momentum, asset return momentum, asset substitution, limits to arbitrage, crash risk management.

Related Securities and the Cross-Section of Stock Return Momentum: Evidence From Credit Default Swaps (CDS)

Number of pages: 97 Posted: 09 Aug 2016
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 12 (706,193)

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Related securities, stock return momentum, momentum crashes, credit default swaps, multi-market momentum signals, aligned/misaligned momentum, asset return momentum, asset substitution, limits to arbitrage, crash risk management

Credit Default Swaps, Agency Problems, and Management Incentives

Number of pages: 42 Posted: 21 Nov 2017 Last Revised: 05 Jun 2018
Jongsub Lee, Junho Oh and David Yermack
Seoul National University, Hong Kong Polytechnic University - School of Accounting and Finance and New York University (NYU) - Stern School of Business
Downloads 409 (86,874)

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credit default swaps, agency, CEO compensation

Credit Default Swaps, Agency Problems, and Management Incentives

NBER Working Paper No. w24064
Number of pages: 43 Posted: 06 Dec 2017 Last Revised: 03 Apr 2021
Jongsub Lee, Junho Oh and David Yermack
Seoul National University, Hong Kong Polytechnic University - School of Accounting and Finance and New York University (NYU) - Stern School of Business
Downloads 14 (689,731)
Citation 1

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Credit Default Swaps Around the World: Investment and Financing Effects

WBS Finance Group Research Paper No. 248
Number of pages: 74 Posted: 22 Apr 2018 Last Revised: 26 Dec 2019
Warwick Business School - Department of Finance, University of North Carolina Kenan-Flagler Business School, Seoul National University and New York University (NYU) - Department of Finance
Downloads 310 (118,861)
Citation 4

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Credit default swaps, CDS, investment policy, financing policy, creditor rights, property rights, private credit, ownership concentration

Credit Default Swaps Around the World: Investment and Financing Effects

Kenan Institute of Private Enterprise Research Paper No. 18-21, WBS Finance Group Research Paper No. 253
Number of pages: 74 Posted: 28 Aug 2018 Last Revised: 26 Dec 2019
Warwick Business School - Department of Finance, University of North Carolina Kenan-Flagler Business School, Seoul National University and New York University (NYU) - Department of Finance
Downloads 72 (393,305)
Citation 6

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Credit Default Swaps, Cds, Investment Policy, Financing Policy, Creditor Rights, Property Rights, Private Credit, Ownership Concentration

9.

The Information Value of Corporate Social Responsibility

Proceedings of Paris December 2019 Finance Meeting EUROFIDAI - ESSEC
Number of pages: 56 Posted: 12 Feb 2018 Last Revised: 01 Oct 2019
Kose John, Jongsub Lee and Ji Yeol Jimmy Oh
New York University (NYU) - Department of Finance, Seoul National University and Hanyang University
Downloads 382 (94,828)
Citation 1

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Corporate social responsibility, stakeholder information revelation, cheap-talk game, endogenous information acquisition

Exodus from Sovereign Risk: Global Asset and Information Networks in the Pricing of Corporate Credit Risk

Journal of Finance, Forthcoming
Number of pages: 60 Posted: 25 Jul 2015
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 267 (139,205)

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International CDS markets, corporate credit risk, sovereign risk, country risk, multinational corporations, asset geographic location, cross-listing, property rights, creditor rights, disclosure requirements, sovereign ceiling violations

Exodus from Sovereign Risk: Global Asset and Information Networks in the Pricing of Corporate Credit Risk

Number of pages: 60 Posted: 02 Nov 2015 Last Revised: 03 Nov 2015
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 111 (298,745)
Citation 6

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International CDS markets, corporate credit risk, sovereign risk, multinational corporations, asset geographic location, cross-listing, property rights, creditor rights, disclosure requirements, sovereign ceiling violations

11.

Birds of a Feather: Value Implications of Political Alignment between Top Management and Directors

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 48 Posted: 17 Mar 2012 Last Revised: 03 Mar 2014
Jongsub Lee, Kwang Lee and Nandu J. Nagarajan
Seoul National University, College of Business, Korea Advanced Institute of Science and Technology (KAIST) and University of Texas at Arlington
Downloads 342 (107,450)
Citation 11

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Political alignment between top management and directors; Firm value; Board independence; Managerial entrenchment; Corporate fraud

12.

Competition, Capital Market Feedback, and Earnings Management: Evidence from Economic Deregulation

Number of pages: 51 Posted: 05 Nov 2013 Last Revised: 08 Aug 2016
Jongsub Lee and Xiaoding Liu
Seoul National University and Texas A&M University - Department of Finance
Downloads 298 (124,809)
Citation 2

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Product market competition, economic deregulation, earnings manipulation, corporate fraud, shareholder short-termism, firm survival

13.

In Search of Board Independence: Former Employees, Shades of Gray and Director Classifications Revisited

Number of pages: 61 Posted: 17 Aug 2016 Last Revised: 12 Jul 2019
Joel F. Houston, Jongsub Lee and Hongyu Shan
University of Florida - Department of Finance, Insurance and Real Estate, Seoul National University and Fordham University - Finance Area
Downloads 284 (131,209)
Citation 4

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functioning independence, former employees, gray directors, shades of gray, cooling-off period, reporting conservatism, corporate fraud, CEO turnover

14.

Going Abroad in a Risky World: Geographic Diversification, Institutional Frictions, and Corporate Leverage

Number of pages: 58 Posted: 02 Jun 2016 Last Revised: 07 Dec 2018
Jongsub Lee, Leming Lin and Andy Naranjo
Seoul National University, University of Pittsburgh - Katz Graduate School of Business and University of Florida - Warrington College of Business Administration
Downloads 232 (160,584)
Citation 1

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Multinational firms, MNCs, Corporate leverage, Geographic diversification, Cash flow volatility, Country risk, Tax, Regulatory frictions, Political risk

15.

The Exodus from Sovereign Risk: Sovereign Ceiling Violations in Credit Default Swap Markets

Number of pages: 69 Posted: 22 Mar 2013 Last Revised: 09 May 2013
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 195 (189,026)
Citation 4

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Credit default swap, sovereign ceiling, transfer and convertibility risk, asset geographic location, cross-listing, property rights, creditor rights, disclosure requirement, credit rating

16.

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

11th Annual Mid-Atlantic Research Conference in Finance (MARC)
Number of pages: 82 Posted: 14 Dec 2015 Last Revised: 02 Jul 2016
Jongsub Lee, Hojong Shin and Hayong Yun
Seoul National University, California State University, Long Beach and Michigan State University - Department of Finance
Downloads 164 (219,798)
Citation 1

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succession tournaments, business group, risk shifting, family composition, sons, daughters, sons-in-law

17.

Inter-Firm Patent Litigation and Innovation Competition

Number of pages: 69 Posted: 14 Dec 2018 Last Revised: 16 Dec 2019
Jongsub Lee, Seungjoon Oh and Paula Suh
Seoul National University, Peking University - HSBC Business School and University of Georgia - Terry College of Business
Downloads 163 (220,945)
Citation 1

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Inter-Firm Patent Litigation, Intellectual Property Rights Boundary and Product Market Dynamics, Financial and Real Consequences of Patent Litigation, Innovation Activity, Innovation Strategy

18.

Home Bias in U.S. Politics

Number of pages: 53 Posted: 13 Feb 2018 Last Revised: 01 Apr 2019
Changhyun Ahn, Jae Yung Kim and Jongsub Lee
University of Florida - Department of Finance, Insurance and Real Estate, Tulane University - A.B. Freeman School of Business and Seoul National University
Downloads 158 (226,851)

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Close congressional elections, local voters and politicians, campaign contributions, home biases, foreign value discount

Internet Appendix for 'Exodus from Sovereign Risk: Global Asset and Information Networks in the Pricing of Corporate Credit Risk'

Number of pages: 61 Posted: 02 Nov 2015 Last Revised: 03 Nov 2015
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 60 (433,543)

Abstract:

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International CDS markets, corporate credit risk, sovereign risk, multinational corporations, asset geographic location, cross-listing, property rights, creditor rights, disclosure requirements, sovereign ceiling violations

Internet Appendix for 'Exodus from Sovereign Risk: Global Asset and Information Networks in the Pricing of Corporate Credit Risk'

Journal of Finance, Forthcoming
Number of pages: 61 Posted: 28 Jul 2015
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 29 (579,429)

Abstract:

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International CDS markets, corporate credit risk, sovereign risk, country risk, multinational corporations, asset geographic location, cross-listing, property rights, creditor rights, disclosure requirements, sovereign ceiling violations

20.

Implied Asset Return Profiles, Firm Fundamentals, and Stock Returns

Number of pages: 62 Posted: 02 Mar 2021
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida and Auburn University
Downloads 66 (407,437)

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Implied asset return and volatility, joint pricing of equity and credit, option pricing, asset growth and risk-shifting factors, asset prices, market predictability

Credit Default Swaps Around the World

NYU Stern School of Business, WBS Finance Group Research Paper
Number of pages: 61 Posted: 17 Jul 2020
Warwick Business School - Department of Finance, University of North Carolina Kenan-Flagler Business School, Seoul National University and New York University (NYU) - Department of Finance
Downloads 63 (422,892)

Abstract:

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Credit default swaps, CDS, investment policy, financing policy, creditor rights, property rights, ownership concentration

Credit Default Swaps Around the World

CEPR Discussion Paper No. DP15668
Number of pages: 68 Posted: 11 Feb 2021
Warwick Business School - Department of Finance, University of North Carolina Kenan-Flagler Business School, Seoul National University and New York University (NYU) - Department of Finance
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22.

ESG Lending

Number of pages: 58 Posted: 11 Jun 2021
Sehoon Kim, Nitish Kumar, Jongsub Lee and Junho Oh
University of Florida - Department of Finance, Insurance and Real Estate, University of Florida, Seoul National University and Hong Kong Polytechnic University - School of Accounting and Finance
Downloads 61 (423,945)

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ESG, ESG Loans, ESG Lending, Sustainable Finance, Green Finance, Bank Lending