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286 records from EconBiz based on author Name
1. Investor sentiment or information content? : a simple test for investor sentiment proxies
Lee, Geul; Ryu, Doojin;2024
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link 2. ESG activities and financial stability : the case of Korean financial firms
abstractThis study explores the relationship between financial firms' environmental, social, and governance (ESG) activities and their financial stability measured by Altman's Z-score. Based on a dataset of listed financial institutions in Korea, our results indicate a positive association between stability and ESG activities. Overall ESG scores and those for the individual environmental, social, and governance pillars potentially enhance financial stability. The environmental pillar plays the most significant role in improving the stability of financial firms. The positive association between ESG activities and financial firms' stability is also seen in nonbanking sectors.
Choi, Seo Yun; Ryu, Doojin; You, Wonhee;2024
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link Link
3. Does a higher hashrate strengthen Bitcoin network security?
abstractIn the blockchain world, proof-of-work is the dominant protocol mechanism that determines the consensus of the ledger. The hashrate, a measure of the computational power directed toward securing a blockchain through proof-of-work consensus, is a fundamental measure of preventing various attacks. This study tests the causal relationship between the hashrate and the security outcome of the Bitcoin blockchain. We use vector error correction modeling to analyze the endogenous relationships between the hashrate, Bitcoin price, and transaction fee, revealing the need for an additional variable to achieve our aim. Employing a measure summarizing the growth of demand factors in the Bitcoin ecosystem indicates that hashrate fuctuations signifcantly infuence security level changes. This result underscores the importance of the hashrate in ensuring the security of the Bitcoin blockchain.
Kim, Daehan; Ryu, Doojin; Webb, Robert I.;2024
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link 4. Informativeness of truncation in the options market
Lee, Geul; Ryu, Doojin; Yang, Li;2025
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link 5. Consumer choices under new payment methods
abstractThis study suggests a payment portfolio model that includes new payment methods that have emerged from the development of cryptocurrency markets and central bank digital currencies (CBDCs). Our model analyzes the optimal payment choice for consumers under various macroeconomic conditions. We determine that an individual economic agent chooses payment methods under specific conditions by incorporating policy interest rates on CBDCs and stablecoins used on cryptocurrency exchanges. We analyze the impacts of CBDCs and stablecoins on the choice of whether to use cash or deposits. We also examine how the agent changes her portfolio compositions in response to exogenous macroeconomic policies. If a government replaces cash with a CBDC, the convenience of digital currency would not affect consumer choices. The higher the government's interest rate on CBDCs, the more consumers will use CBDCs than deposits.
Son, Jaemin; Bilgin, Mehmet Huseyin; Ryu, Doojin;2022
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link Citations: 4 (based on OpenCitations)
6. Investors' net buying pressure and implied volatility dynamics
abstractWe examine the effects of limited investor attention on stock returns by using Google search volume index to measure investor attention. We also investigate whether national culture and market development have any role in this relationship. We find that the impact of investor attention on stock returns is not consistent throughout the world. The direction and significance of the impact vary from country to country. We also find that investor attention is more significant in individualistic countries, countries with high uncertainty avoidance, and developed countries. Furthermore, we find that the impact of abnormal returns on investor attention is more consistent across countries. One-week lagged absolute abnormal returns can positively predict investor attention in sixteen countries. Our results also show that investor attention returns to normal levels in three weeks in individualistic countries and countries with low uncertainty avoidance.This study reexamines the influence of different investor types' net options demand on the KOSPI200 options-implied volatility dynamics. We extend Bollen and Whaley (2004) by accounting for options traders' hedging demand for futures contracts, intraday seasonality, dynamic impacts of net buying pressure on implied volatility, and the effect of regulatory reform in the options market. Our empirical analyses provide evidence for the direction-learning behavior of foreign institutional investors. We further show that foreign institutions' net demand is the most informative about the underlying market volatility independent of the market reform, while domestic retail investors become partially informed only after the reform.
Ryu, Doojin; Webb, Robert I.; Yang, Heejin; Yu, Jinyoung;2022
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link Citations: 4 (based on OpenCitations)
7. What makes the level of particulate matter emissions worse in Korea?
Yang, Eunmo; Bae, Hojoong; Ryu, Doojin;2022
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
8. Firm-specific or market-wide information : how does analyst coverage influence stock price synchronicity?
abstractThis study shows that analysts generate firm-specific information, rather than market-wide information. Whereas previous studies report only the positive relationship between stock price synchronicity and analyst coverage, we suggest that the positive relation can be attributed to the interaction between analyst coverage and firm performance cyclicality. After controlling for the interaction effect between the analyst coverage and cyclicality, synchronicity decreases with the analyst coverage. Both effects diminish with the high analyst forecast dispersion, namely, we observe the decreasing effect of increasing analyst coverage on synchronicity and the increasing effect of interaction between analyst coverage and cyclicality.
Kim, Yongsik; Ryu, Doojin;2022
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link 9. Life-cycle decisions and general equilibrium in the heterogeneous-agent OLG economy
Lee, Hangsuck; Ryu, Doojin; Son, Jihoon;2024
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link Link
10. Left-digit biases : individual and institutional investors
Yu, Jinyoung; Kim, Young-chul; Ryu, Doojin;2024
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link Link