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

  • Seoul National University

  • University of Florida - Warrington College of Business Administration

    • Email
    • Tel: 352-273-4966
    • Fax: 352-392-0301
SCHOLARLY PAPERS

26

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Top 3,953

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18,885

TOTAL CITATIONS
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Top 7,406

in Total Papers Citations

190

Scholarly Papers (26)

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1.

ESG Lending

Proceedings of Paris December 2021 Finance Meeting EUROFIDAI - ESSEC, European Corporate Governance Institute – Finance Working Paper No. 817/2022
Number of pages: 66 Posted: 11 Jun 2021 Last Revised: 29 Mar 2023
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 Hankuk University of Foreign Studies
Downloads 7,466 (1,860)
Citation 19

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ESG, Bank Lending, Sustainability-Linked Loans (SLLs), Greenwashing, Sustainable Finance, Green Loans, ESG-Contingent Financing

2.

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

Review of Corporate Finance Studies, forthcoming
Number of pages: 73 Posted: 21 Jun 2018 Last Revised: 23 Mar 2024
Jongsub Lee, Tao Li and Donghwa Shin
Seoul National University, University of Florida - Warrington College of Business Administration and University of North Carolina at Chapel Hill, Kenan-Flagler Business School
Downloads 1,886 (18,039)
Citation 31

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

3.

DAO Governance

Number of pages: 75 Posted: 03 Feb 2023 Last Revised: 19 Dec 2023
Jungsuk Han, Jongsub Lee and Tao Li
Seoul National University - College of Business Administration, Seoul National University and University of Florida - Warrington College of Business Administration
Downloads 1,055 (42,869)
Citation 5

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DAO, Decentralized Finance, Governance, Blockchain, Whales, Incentive Conflicts, Strategic Trading, Token Liquidity, Network Effects

4.

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

Number of pages: 63 Posted: 13 Apr 2014 Last Revised: 30 Jun 2021
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 813 (61,289)
Citation 17

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

5.

Credit Default Swaps Around the World: Investment and Financing Effects

Downloads 676 (77,857)
Citation 14

Credit Default Swaps Around the World: Investment and Financing Effects

Review of Financial Studies, forthcoming., WBS Finance Group Research Paper No. 248
Number of pages: 74 Posted: 22 Apr 2018 Last Revised: 30 Aug 2021
Söhnke M. Bartram, Jennifer S. Conrad, Jennifer S. Conrad, Jongsub Lee and Marti G. Subrahmanyam
University of Warwick, University of North Carolina at Chapel HillUniversity of North Carolina Kenan-Flagler Business School, Seoul National University and New York University (NYU) - Leonard N. Stern School of Business
Downloads 551 (99,737)
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

Review of Financial Studies, forthcoming., WBS Finance Group Research Paper No. 253, Kenan Institute of Private Enterprise Research Paper No. 18-21
Number of pages: 74 Posted: 28 Aug 2018 Last Revised: 30 Aug 2021
Söhnke M. Bartram, Jennifer S. Conrad, Jennifer S. Conrad, Jongsub Lee and Marti G. Subrahmanyam
University of Warwick, University of North Carolina at Chapel HillUniversity of North Carolina Kenan-Flagler Business School, Seoul National University and New York University (NYU) - Leonard N. Stern School of Business
Downloads 125 (448,469)
Citation 10

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

6.

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 662 (80,007)
Citation 20

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

7.

Credit Default Swaps, Agency Problems, and Management Incentives

Downloads 621 (86,714)
Citation 1

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, Hankuk University of Foreign Studies and New York University (NYU) - Stern School of Business
Downloads 510 (109,771)

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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 2022
Jongsub Lee, Junho Oh and David Yermack
Seoul National University, Hankuk University of Foreign Studies and New York University (NYU) - Stern School of Business
Downloads 111 (491,641)
Citation 1

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8.

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 595 (91,605)
Citation 36

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

9.

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 518 (108,948)
Citation 3

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

10.

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) - Leonard N. Stern School of Business, Seoul National University and Sungkyunkwan University
Downloads 504 (112,647)
Citation 1

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

11.

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

Downloads 483 (118,440)
Citation 15

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 339 (176,159)

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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 144 (400,580)
Citation 15

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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

12.

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 439 (132,731)
Citation 11

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

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 China Europe International Business School (CEIBS)
Downloads 425 (137,932)
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.

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 394 (150,451)
Citation 2

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

15.

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 355 (168,782)
Citation 1

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

16.

Intellectual Property Rights Reform, Inter-firm Patent Litigation and Innovation Competition

Number of pages: 43 Posted: 14 Dec 2018 Last Revised: 15 Oct 2024
Jongsub Lee, Seungjoon Oh and Paula Suh
Seoul National University, Peking University - HSBC Business School and University of Georgia - Terry College of Business
Downloads 336 (179,176)
Citation 1

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China's Intellectual Property Reform, NIPS, Inter-firm patent litigation, Intellectual property rights boundary and product market dynamics, Innovation activity, Innovation strategy

17.

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
The Chinese University of Hong Kong (CUHK) - CUHK Business School, Tulane University - A.B. Freeman School of Business and Seoul National University
Downloads 271 (224,456)

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

18.

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

11th Annual Mid-Atlantic Research Conference in Finance (MARC)
Number of pages: 68 Posted: 14 Dec 2015 Last Revised: 14 May 2022
Jongsub Lee, Hojong Shin and Hayong Yun
Seoul National University, California State University, Long Beach and Michigan State University - Department of Finance
Downloads 270 (225,316)
Citation 2

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succession tournaments, business group, risk shifting, family composition, sons, daughters, sons-in-law, sudden death of a group chairman, inheritance law

19.

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 242 (251,314)
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

20.

Implied Asset Return Profiles, Firm Fundamentals, and Stock Returns

Number of pages: 76 Posted: 02 Mar 2021 Last Revised: 29 Jul 2024
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida and Auburn University
Downloads 240 (253,379)
Citation 1

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Implied asset return and volatility, joint pricing of equity and credit, option pricing, cross-section of expected stock returns, market predictability

21.

Control Beyond Ownership: Open-Book Accounting in Unbalanced Supply Chain Networks

Number of pages: 47 Posted: 11 Oct 2021 Last Revised: 07 Feb 2022
Woojin Kim, Jongsub Lee and Yunxiao Liu
Seoul National University - Business School, Seoul National University and Shanghai University
Downloads 143 (402,023)

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Open-book accounting, supply chain networks, unbalanced bargaining power of customers over suppliers, large business groups, surplus sharing, firm boundary

22.

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

Downloads 137 (415,777)

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 85 (590,059)

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 52 (764,656)

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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

23.

Credit Default Swaps Around the World

Downloads 133 (425,527)
Citation 2

Credit Default Swaps Around the World

Review of Financial Studies, forthcoming., NYU Stern School of Business, WBS Finance Group Research Paper
Number of pages: 61 Posted: 17 Jul 2020 Last Revised: 01 Sep 2021
Söhnke M. Bartram, Jennifer S. Conrad, Jennifer S. Conrad, Jongsub Lee and Marti G. Subrahmanyam
University of Warwick, University of North Carolina at Chapel HillUniversity of North Carolina Kenan-Flagler Business School, Seoul National University and New York University (NYU) - Leonard N. Stern School of Business
Downloads 132 (429,461)
Citation 2

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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
Söhnke M. Bartram, Jennifer S. Conrad, Jennifer S. Conrad, Jongsub Lee and Marti G. Subrahmanyam
University of Warwick, University of North Carolina at Chapel HillUniversity of North Carolina Kenan-Flagler Business School, Seoul National University and New York University (NYU) - Leonard N. Stern School of Business
Downloads 1 (1,288,060)
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24.

Learning Production Process Heterogeneity Across Industries: Implications of Deep Learning for Corporate M&A Decisions

Number of pages: 92 Posted: 28 Dec 2022 Last Revised: 26 Mar 2024
Jongsub Lee and Hayong Yun
Seoul National University and Michigan State University - Department of Finance
Downloads 119 (463,442)

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Machine learning, production process heterogeneity, merger and acquisitions (M&A’s), integration synergy, firm boundaries

25.

Online Appendix for “Family Feud: Succession Tournaments and Risk-taking in Family Firms”

Number of pages: 21 Posted: 14 May 2022
Jongsub Lee, Hojong Shin and Hayong Yun
Seoul National University, California State University, Long Beach and Michigan State University - Department of Finance
Downloads 53 (741,430)

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uccession tournaments, business group, risk shifting, family composition, sons, daughters, sons-in-law, sudden death of a group chairman, inheritance law

26.

Sovereign Overhang and the Integration of Equity and Credit Markets Around the World

Number of pages: 55 Posted: 21 May 2023 Last Revised: 18 Nov 2024
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida and Auburn University
Downloads 49 (766,898)

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Equity-Credit Integration, Systematic Risk, Economic Development, Property Rights, Economic Policy Uncertainty