Dong Wook Lee

Korea University

Professor of Finance

523 Hyundai Motor Hall

Korea University Business School

Seoul, 02841

Korea, Republic of (South Korea)

SCHOLARLY PAPERS

25

DOWNLOADS
Rank 15,178

SSRN RANKINGS

Top 15,178

in Total Papers Downloads

4,224

SSRN CITATIONS
Rank 8,334

SSRN RANKINGS

Top 8,334

in Total Papers Citations

20

CROSSREF CITATIONS

137

Scholarly Papers (25)

1.
Downloads 661 ( 50,948)
Citation 44

U.S. Banks, Crises, and Bailouts: From Mexico to Ltcm

Number of pages: 26 Posted: 29 Feb 2000
Bong-Chan Kho, Dong Wook Lee and René M. Stulz
Seoul National University, Business School, Korea University and Ohio State University (OSU) - Department of Finance
Downloads 592 (58,075)
Citation 3

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U.S. Banks, Crises, and Bailouts: From Mexico to Ltcm

Number of pages: 26 Posted: 11 Jun 2000 Last Revised: 30 Jul 2021
Bong-Chan Kho, Dong Wook Lee and René M. Stulz
Seoul National University, Business School, Korea University and Ohio State University (OSU) - Department of Finance
Downloads 69 (421,162)
Citation 3

Abstract:

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2.

Why Does Shareholder Wealth Increase When Non-U.S. Firms Announce Their Listing in the U.S.?

Number of pages: 54 Posted: 29 Jul 2003
Dong Wook Lee
Korea University
Downloads 650 (52,145)
Citation 10

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Cross-listings, ADRs

3.

Does More Information in Stock Price Lead to Greater or Smaller Idiosyncratic Return Volatility?

Journal of Banking and Finance, Forthcoming
Number of pages: 61 Posted: 25 Mar 2008 Last Revised: 14 Nov 2010
Dong Wook Lee and Mark H. Liu
Korea University and University of Kentucky - Gatton College of Business and Economics
Downloads 599 (57,858)
Citation 3

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idiosyncratic volatility, noisy rational expectations equilibrium, price informativeness

Why Does Capital No Longer Flow More to the Industries with the Best Growth Opportunities?

Fisher College of Business Working Paper No. 2016-03-15, Charles A. Dice Center Working Paper No. 2016-15
Number of pages: 55 Posted: 16 Sep 2016 Last Revised: 05 Dec 2016
Dong Wook Lee, Hyun-Han Shin and René M. Stulz
Korea University, Yonsei University and Ohio State University (OSU) - Department of Finance
Downloads 531 (66,627)

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capital markets, investment, industry, equity flows, debt flows, external finance, equity repurchases, Tobin’s q

Why Does Capital No Longer Flow More to the Industries with the Best Growth Opportunities?

Number of pages: 55 Posted: 12 Dec 2016 Last Revised: 22 Aug 2021
Dong Wook Lee, Hyun-Han Shin and René Stulz
Korea University, Yonsei University and Ohio State University (OSU) - Fisher College of Business
Downloads 36 (563,002)

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5.

Does Institutional Activism Increase Shareholder Wealth?: Evidence from Spillovers on Non-Target Companies

Journal of Corporate Finance, pp. 488-504, 2009
Number of pages: 43 Posted: 16 Jul 2007 Last Revised: 24 May 2011
Dong Wook Lee and Kyung Suh Park
Korea University and Korea University - Department of Finance
Downloads 341 (113,242)
Citation 2

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Governance, Firm value, Endogeneity, Korean Corporate Governance Fund

6.

Does Capital Flow More to High Tobin's Q Industries?

Fisher College of Business Working Paper No. 2018-03-008, Charles A. Dice Center Working Paper No. 2018-8
Number of pages: 51 Posted: 09 May 2018
Dong Wook Lee, Hyun-Han Shin and René M. Stulz
Korea University, Yonsei University and Ohio State University (OSU) - Department of Finance
Downloads 277 (141,323)
Citation 3

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capital markets, investment, industry, equity flows, debt flows, external finance, equity repurchases, Tobin’s q

Does a Firm's Takeover Vulnerability Cause its Stock Price to Deviate from Random Walks?

Number of pages: 41 Posted: 28 Sep 2005 Last Revised: 13 Apr 2013
Joon Chae, Dong Wook Lee and Shu-Feng Wang
Seoul National University, Korea University and National Central University, Department of Finance
Downloads 234 (166,576)

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Takeover vulnerability, Noise trading, Information environment, Random Walk, Variance ratio

Does a Firm's Takeover Vulnerability Cause Its Stock Price to Deviate from Random Walks?

Number of pages: 41 Posted: 14 Mar 2011
Joon Chae, Dong Wook Lee and Shu-Feng Wang
Seoul National University, Korea University and National Central University, Department of Finance
Downloads 37 (557,345)

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Takeover vulnerability, Noise trading, Information environment, Random Walk, Variance ratio

Comovement after Joining an Index: Spillovers of Nonfundamental Effects

Number of pages: 49 Posted: 17 Jun 2004
Brent W. Ambrose, Dong Wook Lee and Joe Peek
Pennsylvania State University, Korea University and Federal Reserve Banks - Federal Reserve Bank of Boston
Downloads 234 (166,576)
Citation 2

Abstract:

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category model, spillover effect, REITs, stock market index

Comovement after Joining an Index: Spillovers of Nonfundamental Effects

Real Estate Economics, Vol. 35, No. 1, pp. 57-90, Spring 2007
Number of pages: 34 Posted: 16 Feb 2007
Brent W. Ambrose, Dong Wook Lee and Joe Peek
Pennsylvania State University, Korea University and Federal Reserve Banks - Federal Reserve Bank of Boston
Downloads 33 (580,303)
Citation 1
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9.

Why Does Equity Capital Flow Out of High Tobin’s q Industries?

Fisher College of Business Working Paper No. 2020-03-002, Charles A. Dice Center Working Paper No. 2020-02
Number of pages: 58 Posted: 12 Feb 2020
Dong Wook Lee, Hyun-Han Shin and René M. Stulz
Korea University, Yonsei University and Ohio State University (OSU) - Department of Finance
Downloads 223 (174,972)
Citation 2

Abstract:

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capital markets, investment, industry, equity flows, debt flows, external finance, equity repurchases, Tobin’s q

10.

Can Investor Heterogeneity be Used to Explain the Cross-Section of Average Stock Returns in Emerging Markets?

Number of pages: 48 Posted: 04 Feb 2010
Korea UniversityDong-A University Business School, Korea University and Korea University - Department of Finance
Downloads 146 (253,473)
Citation 4

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investor heterogeneity, emerging market, multivariate proxies for tangency portfolio, factor model

11.

Dollar-Weighted Return on Aggregate Corporate Sector: How is it Distributed Across Countries?

31st Australasian Finance and Banking Conference 2018
Number of pages: 42 Posted: 30 Jul 2018 Last Revised: 10 Sep 2018
Lingxia Sun, Lingxia Sun and Dong Wook Lee
Nankai University - Business SchoolSun Yat-sen University (SYSU) - ISBF and Korea University
Downloads 72 (406,619)

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Dollar-weighted return; Parity; Convergence; Financial openness

12.

Do Non-Executive Employees Have Private Information that is Relevant to Outside Investors?

Number of pages: 39 Posted: 26 Aug 2005
Dong Wook Lee
Korea University
Downloads 65 (429,316)

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Non-executive employees, outside investors, private information, stock option exchange program

13.

Indirect Benefits of Financial Globalization: Evidence from Small Firms’ Growth Opportunities

Number of pages: 48 Posted: 02 Feb 2016 Last Revised: 30 Jan 2017
Dong Wook Lee, Lingxia Sun and Lingxia Sun
Korea University and Nankai University - Business SchoolSun Yat-sen University (SYSU) - ISBF
Downloads 53 (473,176)

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Financial globalization; Indirect benefits; Firm size; Growth opportunities

14.

What Explains Cross-Country Difference in Corporate Valuations? Growth Opportunities or Profitability?

Number of pages: 46 Posted: 12 Aug 2021 Last Revised: 04 Oct 2021
Dong Wook Lee, Lingxia Sun and Lingxia Sun
Korea University and Nankai University - Business SchoolSun Yat-sen University (SYSU) - ISBF
Downloads 16 (678,692)

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Country-wide valuation; Growth opportunities; Free cashflow; Functional efficiency

15.

The Role of Second-tier Exchange in Corporate Valuation: Evidence from Korea

Number of pages: 52 Posted: 18 Feb 2021 Last Revised: 12 Jul 2021
Heejung Choi, Heejung Choi and Dong Wook Lee
Korea UniversitySunmoon university and Korea University
Downloads 16 (678,692)

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Second-tier exchange, Valuation, Growth, Cashflow, Dividend, Intangibles, Korea

16.

The Role of the Temporary Component in Spot Prices in the Revision of Expected Future Spot Prices: Evidence from Index Futures Quotes

The Journal of Futures Markets, Vol. 32, No. 3, 230–251 (2012)
Posted: 28 Jan 2016
University of Seoul, College of Business Administration, Korea University, Hanyang University and Korea University - Department of Finance

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Foreign investors, Temporary component, Extrapolative expectations, Index futures

17.

The Role of Trading Volume in the 'Volatility Puzzle'

Asia-Pacific Journal of Financial Studies (2015) 44, 783–809
Posted: 27 Jan 2016
Dong Wook Lee
Korea University

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Volatility puzzle, Trading volume, Parameter uncertainty, Convexity

Factor Exposures of Foreign Equity Capital in a Domestic Stock Market: Evidence from Korea

International Review of Finance, Vol. 17, Issue 4, pp. 561-596, 2017
Number of pages: 36 Posted: 07 Dec 2017
Lingxia Sun, Lingxia Sun and Dong Wook Lee
Nankai University - Business SchoolSun Yat-sen University (SYSU) - ISBF and Korea University
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Factor Exposures of Foreign Equity Capital in a Domestic Stock Market: Evidence from Korea

International Review of Finance, 2016
Posted: 10 Jan 2015 Last Revised: 16 Aug 2017
Lingxia Sun, Lingxia Sun and Dong Wook Lee
Nankai University - Business SchoolSun Yat-sen University (SYSU) - ISBF and Korea University

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Foreign investors, Factor loadings, Idiosyncratic volatility, Korea

19.

Stock Return Commonality within Business Groups: Fundamentals or Sentiment?

Pacific-Basin Finance Journal, Volume 35, Part A, November 2015, Pages 198-224
Posted: 30 Jan 2014 Last Revised: 29 Sep 2016
Min-Su Kim, Woojin Kim and Dong Wook Lee
Korea University, Seoul National University - Business School and Korea University

Abstract:

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Return commonality; Business group; Corporate governance; Category/Habitat trading; Korea

20.

Takeover Vulnerability and the Behavior of Short-Term Stock Returns

Journal of Corporate Finance, Forthcoming
Posted: 14 Apr 2013
Joon Chae, Dong Wook Lee and Shu-Feng Wang
Seoul National University, Korea University and National Central University, Department of Finance

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Takeover vulnerability, Short-term price reversal, Overreaction, Price concession

21.

Short Selling by Individual Investors: Destabilizing or Price Discovering?

Pacific-Basin Finance Journal, Vol. 21, No. 1, 2013
Posted: 08 Apr 2013
Korea UniversityDong-A University Business School, Seoul National University - Business School and Korea University

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Short sale, Individual investors, Korean stock market, Pricing efficiency, Destabilizing

22.

Does Institutional Activism Increase Shareholder Wealth? Evidence from Spillovers on Non-Target Companies

Journal of Corporate Finance, Vol. 15, No. 4, 2009
Posted: 07 Feb 2010 Last Revised: 22 Feb 2010
Kyung Suh Park and Dong Wook Lee
Korea University - Department of Finance and Korea University

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Institutional activism, Shareholder wealth, Spillovers, Korea corporate governance fund

23.

How Do Employees View Their Underwater Stock Options? Evidence from the Stock Option Exchange Program

Journal of Financial Services Research, Vol. 35, No. 3, 2009
Posted: 07 Feb 2010 Last Revised: 20 Feb 2010
Dong Wook Lee
Korea University

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Non-executive employees, Employee stock options, Stock option exchange program, 6&1 repricing, Participation decisions

24.

Can Investor Heterogeneity Be Used to Explain the Cross-Section of Average Stock Returns in Emerging Markets

Journal of International Money and Finance, Vol. 28, No. 4, 2009
Posted: 05 Feb 2010
Korea UniversityDong-A University Business School, Korea University and Korea University - Department of Finance

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Investor heterogeneity, Emerging market, Multivariate proxies for tangency portfolio, Factor model

25.

Does the Difference in Valuation Between Domestic and Foreign Investors Help Explain Their Distinct Holdings of Domestic Stocks (formerly, Do Different Interpretations of the Same Information Help Explain the Home Bias)

Journal of Banking and Finance, Forthcoming
Posted: 19 Jan 2009 Last Revised: 14 Feb 2010
Hyung Cheol Kang, Dong Wook Lee and Kyung Suh Park
University of Seoul, College of Business Administration, Korea University and Korea University - Department of Finance

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Investor heterogeneity, Foreign investors, Valuation difference, Domestic stock holdings