Directory

Directory

Soku Byoun

Associate Professor - Finance, Insurance & Real Estate

Contact Information

Email:  Soku_Byoun@baylor.edu
Homepage:  http://business.baylor.edu/Soku_Byoun/
Campus Phone:  (254) 710-7849
Fax:  (254) 710-1092
Mailing Address:  One Bear Place #98004
Waco, TX  76798
Office Location:  Foster Business and Innovation 320.46

Office Hours

By appointment

Educational Background

  • PHD - Business Administration, University Of South Carolina
  • MS - Mathematics, Univ Illinois Urbana
  • MS - Business Education, Chicago State University
  • BBA - Business Administration, University Of Suwon

Work Experience

  • Associate Professor, Baylor University (August 2009 - Present)
  • Visiting Professor, SungKyunKwan University (August 2009 - July 2010)
  • Assistant Professor, Baylor University (August 2003 - May 2009)
  • Assistant Professor, University of Southern Indiana (June 2000 - May 2003)
  • Lecturer, University of South Carolina (August 1998 - July 2000)

Awards and Honors

  • 2016 Best Paper Award in Corporate Finance, Eastern Finance Association (April 12, 2016)
  • The 2013 Best Paper Award, Asia-Pacific Journal of Financial Studies (February 20, 2014)
  • The 7th Shinhan Bank Best Paper Award, Korea-America Finance Association (October 18, 2013)
  • 2008 The Hankamer School of Business Young Researcher Award, Hankamer School of Business (2008)
  • 2007 The Financial News & Korea America Finance Association (KAFA) Top-Journal Paper Award, The Financial News & Korea America Finance Association (KAFA) (2007)
  • 2003 Financial Management Association International Best Paper Award, The Fixed Income Analysts Society (October 5, 2003)

Professional Memberships

  • American Economics Association
  • American Finance Association
  • European Financial Management Association
  • Financial Management Association International
  • Midwest Financial Management Association
  • Secretary General, Korea-America Finance Association

Publications

Basic or Discovery Scholarship

"Capital Allocation and Product Market Competition during a Financial Crisis," Financial Management, Vol. 45, (September 2016), pp. 267-290 (coauthors: Zhaoxia Xu).

"Does corporate board diversity affect corporate payout policy?," Asia-Pacific Journal of Financial Studies, Vol. 45, (March 2016), pp. 48-101.

"Are Unsolicited Ratings Biased? Evidence from Long-Run Stock Performance," Journal of Banking & Finance, (October 2014) (coauthors: Jon A. Fulkerson, Seung H Han, Yoon S Shin).

"Contracts, Governance, and Country Risk in Project Finance: Theory and Evidence," Journal of Corporate Finance, (September 2014) (coauthors: Zhaoxia Xu).

"Information Content of Unsolicited Credit Ratings and Rating Agency’s Incentive: A Theory," International Review of Economics & Finance, (September 2014).

"Risk Management with Leverage: Evidence from Project Finance," Journal of Financial and Quantitative Analysis, (December 2013) (coauthors: Jaemin Kim, Sean S Yoo).

"Why Do Some Firms Go Debt Free?," Asia-Pacific Journal of Financial Studies, (February 2013).

"Information Content of Unsolicited Ratings: Evidence from Japanese Firms," Asia-Pacific Journal of Financial Studies, Vol. 41, (March 2012), pp. 59-86.

"Arbitrage Opportunities and Efficiency of an Option Market at its Initial Stage: The Case of KOSPI 200 Options in Korea," Research in Finance, Vol. 25, (2009), pp. 269-301.

"Smooth Goodness-of-Fit Specification Tests under the Lagrange Multiplier Principle," Communications in Statistics: Theory and Methods, Vol. 3, No. 37, (2008).

"How and When Do Firms Adjust Their Capital Structures toward Targets?," Journal of Finance, (2008).

"Tests of the Pecking Order Theory and the Tradeoff Theory of Optimal Capital Structure," Global Business and Finance Review, Vol. 10, No. 2, (2005), pp. 1-16.

"Stock Performance Following Seasoned Stock-Warrant Unit Offerings," The Journal of Business, Vol. 77, No. 1, (2004), pp. 75-100.

"Expectations Hypothesis on the Term Structure of Implied Volatility: Evidence from Foreign Currency and Stock Index Options," Journal of Financial Econometrics, Vol. 1, No. 1, (2003), pp. 126-151.

"Shares vs. Warrant-Share Units: Evidence from Seasoned Equity Offerings," Journal of Corporate Finance, Vol. 9, (2003), pp. 575-590.

"The Lead-lag Relation Between Spot and Option Markets and Implied Volatility in Option Prices," Research in Finance, Vol. 19, (2002), pp. 269-284.

Presentations and Proceedings

Basic or Discovery Scholarship

"Does corporate board diversity affect corporate payout policy?," presented at the Issues in Corporate Governance Seminar, Seoul, Korea, December 2015.

"Sensitivities of Corporate Investment and Financing Decisions to the Implied Cost of Capital," presented at the The International Conference on Asia-Pacific Financial Markets (CAFM), Seoul, Korea, December 2015.

"Cash Holdings, Capital Structure, and Financial Flexibility," presented at the 2015 Financial Management Association International Annual Meetings in Orlando, Florida, Orlando, Florida, October 2015.

"The Sensitivity of Corporate Investment to the Implied Cost of Capital," presented at the Research Seminar, Korea, June 2015.

"Does corporate board diversity affect corporate payout policy?," presented at the the 2nd Vietnam International Conference in Finance (VICIF-2015), Vietnam, June 2015.

"Does corporate board diversity affect corporate payout policy?," presented at the the 2015 Five Conferences Joint Symposium in Korea, Korea, May 2015.

"Contracts, Governance, and Country Risk in Project Finance: Theory and Evidence," presented at the 2014 Financial Management Association International Annual Meetings, Nashville, Tennessee, October 2014.

"Contracts, Governance, and Country Risk in Project Finance: Theory and Evidence," presented at the Financial Management International – European Conference, Maastricht, Netherlands, June 2014.

"Contracts, Governance, and Country Risk in Project Finance: Theory and Evidence," presented at the Korea Institute of Finance Symposium, Seoul, Korea, June 2014.

"Cash Holdings, Capital Structure, and Financial Flexibility Demand Cycle," presented at the Finance Department Seminar, Aubrun, AL, April 2014.
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