Explanipedia

Antitrust deregulation and long-term performance of acquiring firms Open

Jaeyoon Lee, Chune Young Chung, Huy Pham · 2025

This study analyzes the impact of antitrust deregulation in 2007 on the long-term performance of acquiring firms using data from 1,185 completed mergers and acquisitions (M&A) in Korea from 1999 to 2017. We measure performance using a 12-m…

Climate Risk Exposure and Firm Default Risk: OECD Insights into the Moderating Role of Innovation Open

Chune Young Chung, Thi Hoa Thuong Le, Tran Hong Van Nguyen · 2025

By analyzing 19 715 firm–year observations from 2640 companies across 38 OECD member economies between 2002 and 2023, this study examines the effect of climate risk exposure on firm default risk. Our findings suggest that firms with higher…

A pathway to local legitimacy: the impact of corporate governance on corporate social responsibility in chaebol-affiliated firms Open

Chune Young Chung, Hoje Jo, Junyoup Lee · 2025

Drawing on local legitimacy theory, which posits that firms seek acceptance and approval from their local community and stakeholders, we examine the effect of corporate governance (CG) quality on corporate social responsibility (CSR) activ…

The effect of renewable energy policies on earnings management Open

Wonseok Choi, Chune Young Chung, Haowen Luo · 2025

This study provides novel evidence that renewable energy policies, while environmentally motivated, can unintentionally influence firms’ financial reporting behaviors. Leveraging cross-state policy shocks in renewable mandates and incentiv…

Relaxation of Antitrust Regulations and Shareholder Returns: Evidence from the Korean Market* Open

Hye Seok Kim, Chune Young Chung, Hong Kee Sul, Farzan Yahya · 2025

This study examines the effects of the 2007 antitrust regulations on the value of acquiring firms engaged in mergers and acquisitions (M&A) in Korea. By employing a difference‐in‐differences model and analyzing 5‐day cumulative average abn…

Difference in Political Ideology and Its Impact on Mergers and Acquisitions Open

Chune Young Chung, Dongnyoung Kim, Weishen Wang · 2025

We examine the extent to which ideological differences between acquiring and target firms influence the likelihood of deal completion and the magnitude of announcement returns. Our empirical analysis shows that deals are 26% more likely to…

Are Environmentally Sensitive Firms More Likely to Release Corporate Environmental Disclosures? Evidence From Environmental Risk Management Open

Chune Young Chung, Incheol Kim, Rong Yang · 2025

This study examines the environmental risk management practices of US firms operating in environmentally sensitive industries. Using two proxy variables for ex ante environmental policy risk—firm‐level toxic chemical emissions and climate‐…

CEO political orientation and loan contract Open

Chune Young Chung, Changhwan Choi, Do Thi Thanh Nhan · 2025

Banks rely on soft information when assessing loan applications, making it crucial to evaluate the trustworthiness of potential borrowers in order to set loan conditions, even in a legal environment where contractual rights are straightfor…

To Hide or not to Hide: Industry Distress, Information Asymmetry, and Stock Price Crash Risk Open

Chune Young Chung, Chang Liu, Doojin Ryu, Kainan Wang · 2025

Does local corruption influence corporate risk-taking? Evidence from Vietnam's Anti-corruption campaigns Open

Nha Duc Bui, Do Thi Thanh Nhan, Chune Young Chung, Doojin Ryu · 2025

Financial distress and firm performance: Evidence from Vietnam Open

Nguyen Duy Suu, Do Thi Thanh Nhan, Chune Young Chung, Joung Hwa Choi, Paul Moon Sub Choi · 2025

Board network centrality and investment inefficiency Open

Irfan Haider Shakri, Chune Young Chung, M. Johnston · 2025

Investor-induced contagion after crypto exchange cyberattacks: Wealth effect or portfolio rebalancing Open

Dung Thi Pham, Chune Young Chung, Doojin Ryu · 2025

Do Board‐Level Employee Representatives Increase Pay Equity in Firms? Open

Amirhossein Fard, Chune Young Chung · 2024

Question/Issue This study investigates the role of board‐level employee representatives (BLERs), a common corporate governance practice in Europe, in determining the pay ratio between CEOs and average employees. Research Findings/Insights …

An empirical investigation of the mitigating effect of debt on overinvestment as shareholder rights vary Open

Chune Young Chung, Daejin Kim, Junyoup Lee · 2024

In this study, we investigate the relationship between debt governance and overinvestment. We use net cash flows to debtholders as a proxy for debt governance and find that an increase in these cash flows mitigates firms' overinvestment. W…

Self‐serving attribution and managerial investment decision Open

Chune Young Chung, Changhwan Choi, Amirhossein Fard · 2024

This study examines whether managerial overconfidence coupled with self‐attribution bias distorts the investment decisions of firms. To this end, we investigate the impact of overconfidence on asymmetric investment cash flow sensitivity (I…

Integration of Pakistan's stock market with the stock markets of top ten developed economies Open

Seunghyup Lee, Chune Young Chung, Farid Ullah · 2024

This study examines the integration of Pakistan's Stock Market with the stock markets of the top ten largest economies in the world-USA, China, Japan, Germany, the UK, India, France, Italy, Brazil, and Canada-from January 2015 to October 2…

Does Domestic and Foreign Institutional Investment Affect Corporate Social Responsibility? Evidence from Workplace Safety Initiatives Open

Chune Young Chung · 2023

Institutional Investors and Workplace Safety Open

Wonseok Choi, Chune Young Chung, Hyun-Jin Oh · 2023

Shale Gas Booms and Environmental CSR Open

Chang-Hwan Choi, Chune Young Chung · 2023

The Effects of Antitrust Laws on Horizontal Mergers: International Evidence Open

Chune Young Chung, Iftekhar Hasan, Ji Hoon Hwang, Incheol Kim · 2023

Does Domestic and Foreign Institutional Investment Affect Corporate Social Responsibility? Evidence from Workplace Safety Initiatives Open

Chune Young Chung · 2023

Institutional Investors and Workplace Safety Open

Wonseok Choi, Chune Young Chung, Hyun-Jin Oh · 2023

The big picture: the industry effect of short interest Open

Chune Young Chung, Chang Liu, Kainan Wang · 2021

We examine whether industry-level short interest predicts industry stock returns and find that the former is negatively associated with the latter. Furthermore, this predictive ability is more pronounced in industries with higher informati…

The big picture: The industry effect of short interest Open

Chune Young Chung, Chang Liu, Kainan Wang · 2021

We examine whether industry-level short interest predicts industry stock returns and find that the former is negatively associated with the latter. Furthermore, this predictive ability is more pronounced in industries with higher informati…

Factors Affecting Organizations’ Resistance to the Adoption of Blockchain Technology in Supply Networks Open

Daeheon Choi, Chune Young Chung, Thou Seyha, Jason Young · 2020

From a supply chain perspective, new technologies such as blockchain can improve the efficiency and competitiveness of logistics and increase customer satisfaction. Although blockchain technology has been lauded as a way for firms to build…

Corporate Environmental Disclosures and Risk Management Open

Chune Young Chung, Incheol Kim, Rong Yang · 2020

This study examines the risk management engagement of U.S. firms in polluting industries. Using hand-collected voluntary corporate environmental reports, we find that a firm’s total toxic chemical releases increase the intensity of its cor…

Sustainable Corporate Ownership Structures and Earnings Management in the Vietnamese Stock Market Open

Daeheon Choi, Chune Young Chung, Young‐Eun Kim, Ye Jun Kim, Paul Moon Sub Choi · 2020

We conducted an empirical analysis to verify the relationship between companies’ ownership structures and earnings management. Our sample included 480 nonfinancial companies listed on Vietnam’s Ho Chi Minh Stock Exchange and Hanoi Stock Ex…

Do Ownership Ties Increase the Optimistic Bias of Analysts’ Earnings Estimates? Evidence from Corporate Financing in the Korean Market Open

Chune Young Chung, Euisup Lee, Chang-Gyun Park · 2020

Previous studies argue that analysts provide optimistic estimates for corporations with which their brokerage houses have a business relationship. In this study, we investigate whether brokers with ownership ties issue optimistic estimates…

Corporate Governance and Capital Structure: Evidence from Sustainable Institutional Ownership Open

Paul Moon Sub Choi, Joung Hwa Choi, Chune Young Chung, Yun Joo An · 2020

Because corporate sustainability enhances corporate governance principles, firms are increasing their efforts to provide transparency and public disclosure. These efforts inform the public about the relationship between corporate governanc…

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