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  76798-8004
Office Location:  HSB 336

Educational Background

  • Ph D - Business Administration, UNIV SOUTH CAROLINA COLUMBIA, 2000
  • MS - Mathematics, UNIV ILLINOIS URBANA-CHAMPAIGN, 1994
  • MS - Basic Business, CHICAGO STATE UNIVERSITY, 1992
  • BBA - Business Administration, UNIVERSITY OF SUWON, 1989

Awards and Honors

  • 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

  • Secretary General, Korea-America Finance Association

Publications

Basic or Discovery Scholarship

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

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

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

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

"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 (coauthors: Hun Y Park).

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

"How and When Do Firms Adjust Their Capital Structures toward Targets?," The 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 (coauthors: Jong Rhim).

"Stock Performance Following Seasoned Stock-Warrant Unit Offerings," 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 (coauthors: Chuck C.Y. Kwok and Hun Y. Park).

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

"The Lead-lag Relation Between Spot and Option Markets and Implied Volatility in Option Prices," Research in Finance, Vol. 19, (2002), pp. 269-284 (coauthors: Phelim P. Boyle and Hun Y. Park).

Presentations and Proceedings

"Why Do Some Firms Go Debt Free?," presented at the The Seventh Annual Conference on Asia-Pacific Financial Markets, Seoul. Korea, December 2012.

Basic or Discovery Scholarship

"Cash holdings and capital structures over financial flexibility cycle," presented at the Korea Capital Markets Institute - Issues in Global Financial Markets, Seoul, Korea, December 2012.

"Capital Allocation and Product Market Competition during a Financial Crisis," presented at the the 2012 American Finance Association Annual Meetings, Chicago, IL, January 2012.

"Information Content of Unsolicited Credit Ratings: Evidence from Japanese Firms," presented at the The Sixth International Conference on Asia-Pacific Financial Markets (CAFM 2011), Seoul, Korea, December 2011.

"Capital Allocation and Product Market Competition during a Financial Crisis," presented at the 2011 Five Conferences Joint Symposium in Korea, May 2011.

"Capital Allocation and Product Market Competition during a Financial Crisis," presented at the 2011 Financial Management Association International Annual Meetings, Denver, CO, 2011.

"External Finance Dependence and Corporate Financial Decisions during a Financial Crisis," presented at the 2010 Financial Management Association International Annual Meetings, New York City, NY, October 2010.

"Risk Management with Leverage:Evidence from Project Finance," presented at the 2010 Financial Management Association International Annual Meetings, October 2010.

"Finance, Predation, and Financial Crisis," presented at the Korea Institute of Finance Annual Conference, Seoul, Korea, May 2010.

"External Finance Dependence and Corporate Financial Decisions during a Financial Crisis," presented at the 2010 Midwest Financial Management Association Annual Meetings, Las Vegas, NE, March 2010.

"Why Do Some Firms Become Debt Free?," presented at the 2009 Korea Capital Market Institute & Korea-America Finance Association Joint Seminar, May 2009.
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