Yong H. Kim, PhD
Professor of Finance and Department Head

Yong  H. Kim, PhDDr. Kim holds the rank of full professor since 1988 and serves as Head of the department. He was CBA Faculty Fellow (1988-94) and the first Fulbright Professor of Business Administration at Seoul National University (1988-89) where he received presidential citation for the highest scholastic achievement - summa cum laude (1968). He also held teaching positions at Penn State, University of Hawaii, Sogang, and Soongsil. His Ph.D. degree is from Penn State, MBA degrees are from Virginia Tech and Seoul National University, respectively, and B.A. is from Soongsil University.

Professor Kim's over sixty peer refereed publications are in Journal of Finance, Management Science, Financial Management, Journal of Corporate Finance, Journal of International Business Studies, Journal of Empirical Finance, Financial Analysts Journal, International Review of Finance, Pacific-Basin Finance Journal, Journal of Risk and Insurance, Managerial and Decision Economics, Decision Support Systems, Computers & Operations Research, International Journal of Production Research, OMEGA, Asia-Pacific Journal of Operational Research, Global Finance Journal, Asia-Pacific Financial Markets, and Engineering Economist among others. He has advised numerous public and private organizations in the U.S. and abroad.

In addition to serving as the 23rd President of KAEA (Korea-America Economic Association, 2007), Dr. Kim also served as founding President of KAFA (Korea-America Finance Association, 1992-95). He co-founded KAFA's annual joint conference with Allied Associations for Financial Studies in Korea (1994-present). His other professional services include: Executive Director, International Symposium on Cash, Treasury and Working Capital Management (1986-98); Founding Editor, Advances in Working Capital Management (Elsevier Science, 1986-02); Track Chair, FMA (Financial Management Association, 1998); Advisory Board, Corporate Finance Review (1995-present); Editorial Board, Global Finance Journal (1992-present) and Credit and Financial Management Review (1994-present); Associate Editor, International Journal of Finance (1995-present), The Financial Review (1991-97); and Managing Editor, KASTN (Korean-American Science and Technology News, 2004-present) and IEKAS (Information Exchange for Korean American Scholars, 2004-present); Board, SFSBC (Shadow Financial Services and Banking Commission of Korea, 2007-present) and Presbyterian Campus Ministry at UC (2005-present); Advisory Council, KAFA (1996-present) and Advisory Board, KAEA (2007-08), SSUOA (Soongsil University Overseas Advisors, 2006-08) and CKAA (Cincinnati Korean American Association, 1980-present).

Doctoral students supervised by Professor Kim have been placed initially at Oregon State, BYU, FHLB, Howard, Northeastern, Hawaii-Manoa, Wayne State, and BGSU.

Contact Information
E-mail: yong.kim@uc.edu Phone: (513) 556-7084
Office/Address: 404 Carl H. Lindner Hall
PO Box 210195
Cincinnati, Ohio 45221-0195
Fax: (513) 556-0979
 
 
Areas of Expertise
General Expertise: Finance, Globalization, Treasury Management
Specific Expertise: Corporate Finance
Research Interests: Corporate and International Finance
Teaching Interests: Corporate and International Finance
Working Papers
  • "Boundary and Efficiency of Internal Capital Markets and Organizational Structure in Spin-offs: Control vs. Focus", with Y. Choi.
  • "Corporate Governance and Diversification", with K. Gleason and Y. S. Kim. Under review.
  • "The Asymmetric Adjustment of IPO Prices to Positive vs. Negative Information and the Role of R&D in IPO Pricing", with M. Choi. Earlier versions have been presented at the 2004 AFAK/KAFA, 2005 FMA and 2005 FMA-E.
Publications
  • "The Magnet Effect of Price Limits: A Logit Approach" Journal Empirical Finance, 16 (5), 2009, 830-837, with P. Hsieh and J. Yang.
  • "The Effect of Price Limits: Initial Public Offerings vs. Seasoned Equity Offerings" International Review of Finance, 9 (3), 2009, 295-318, with J. Yang.
  • "The Effect of Price Limits on Intraday Volatility and Information Asymmetry," Pacific-Basin Finance Journal, 16 (5), 2008, 522–538, with J. Yang
  • "Relative Performance of Trading Halts and Price Limits:Evidence from the Spanish Stock Exchange", International Review of Economics and Finance, 17 (2), 2008, 197-215, with J. Yague and J. Yang.
  • "Financial Leverage and Growth Opportunity in Japan" International Journal of Business Research, 8, 2008, 1-14, with H. Jo
  • "Financial Contracts for CEOs: Expropriation or Effective Corporate Governance?" International Finance Review, 9, 2008, 187-206, with O. Maisondieu-Laforge and Y. S. Kim.
  • "Financial Contracting and Operating Performance: The Case for OBRA and Efficient Contracting" Corporate Ownership & Control, 4 (4), 2007, 217-227, with O. Maisondieu-Laforge and Y. S. Kim
  • "The Relationship Between the Assets Liquidity and Trading Liquidity: An Empirical Investigation," Global Business and Finance Review, 12 (1), 2007, 37-52, with X Zhou
  • "Earnings Management and CEO Cash Compensation," International Journal of Finance, 16 (4), 2004, 3224-45, with H. Jo and Y. Kim
  • "What Makes Circuit Breakers Attractive to Financial Markets? A Survey," Financial Markets, Institutions, and Instruments, 13 (3), August 2004, 109-146, with J. Yang
  • "Can Composite Value Measures Enhance Portfolio Performance?” Journal of Investing, 13 (4), Winter 2004, 42-48, with M. Dhatt and S. Mukherji
  • "Agency Costs and Efficiency of Business Capital Investment: Evidence from Quarterly Capital Expenditures," Journal of Corporate Finance, 8 (2), 2002, 139-158, with H.Shin
  • "An International Investigation of the Influence of Growth Opportunities on Firm Liquidity," International Journal of Finance, 13 (1), 2001, 2044-57, with S. Mukherji and Y.Lee.
  • "Investors' Cognizance and Stock Price Responses to Dividend Initiation," Advances in Working Capital Management,(edited by Y.H. Kim), Oxford, UK: Elsevier Science, 4, 2001, 189-202, with H. Jo and E. Kang.
  • "The Value Premium for Small-Capitalization Stocks," Financial Analysts Journal, 55 (5), Sept./Oct. 1999, 60-68, with M. Dhatt and S. Mukherji.
  • "Relations Between Stock Returns and Fundamental Variables: Evidence from a Segmented Market,” Asia-Pacific Financial Markets, 6 (3), 1999, 221-233, with M. Dhatt and S. Mukherji.
  • "International Diversification of U.S. Portfolios with Segmented Markets," Emerging Markets Finance and Investments (edited by J. Choi and J. Doukas), Westport, CT: Greenwood Publishing Group, Inc., 1998, 61-68, with P. Fanara and S. Mukherji.
  • "The Effect of Stock Splits on the Ownership Structure of Firms," Journal of Corporate Finance, 3 (2), 1997, 167-188, with S. Mukherji and M. Walker.
  • "A Fundamental Analysis of Korean Stock Returns," Financial Analysts Journal, 53 (3), May/June 1997, 75-80, with S. Mukherji and M. Dhatt.
  • "Did the 1986 Tax Reform Act Affect Market Reactions to Stock Split? A Test of the Tax-Option Hypothesis," The Financial Review, 32 (2), May 1997, 249-272, with M. Dhatt and S. Mukherji.
  • "The Role of Stock Dividends in Korea," Global Finance Journal, 8 (2), 1997, 297-311, with M. Dhatt and S. Mukherji.
  • "The Demise of Stock Splits in Korea," International Journal of Finance, 8 (4), 1996, 338-351, with S. Mukherji and Y. Lee.
  • "Stock Dividends in Korea: A Test of Different Hypotheses, " Research in Finance, (edited by A.H. Chen and K.C. Chan), Greenwich, CT: JAI Press, 1996, 183-202, with M. Dhatt and S. Mukherji.
  • "Seasoned Equity Issues: The Korean Experience," Pacific-Basin Finance Journal, 4 (1), 1996, 31-43, with M. Dhatt and S. Mukherji.
  • "Is the Stock Dividend Ex-Day Effect Due to Market Microstructure? Contrary Evidence from Korea," Global Finance Journal, 7 (1), 1996, 87-97, with M. Dhatt and S. Mukherji.
  • "Optimum Cash Balances for International Firms," Advances in Working Capital Management, (edited by Y.H. Kim), Greenwich, CT: JAI Press, 3, 1996, 151-168, with J. Choi and D. Ghosh.
  • "Adverse Selection, Investment Opportunities and Uninsured Rights Issues: Evidence from Korea" (abstract), Journal of Finance, 49 (3), July 1995, with M. Dhatt and S. Mukherji.
  • "Agency Costs, Market Discipline and Market Timing: Evidence from Post-IPO Operating Performance," Entrepreneurship: Theory and Practice, 20 (2), Winter 1995, 43-58, with D. McConaughy and M. Dhatt.
  • "Japanese Stock Price Reactions to Stock Dividend Distributions," Pacific-Basin Finance Journal, 2 (1), March 1994, 43-60, with M. Dhatt and S. Mukherji.
  • "Finacial Theorny, Corporate Strategy and Analytic Hierarchy Process," Essays in Honor of Professor B.K. Shim, Seoul National University Press, Feb. 1994, 515-44, with V. Srinivasan. (Invited Article)
  • "Payment Systems in a Rapidly Developing Asian Economy," Journal of Cash Management, 14 (1), Jan./Feb. 1994, 50-53, with K. Sudhakar.
  • "Corporate Efficiency, Profitability, and Value Changes after the IPO," Journal of Small Business Finance, 3 (2), 1994, 167-170, with D. McConaughy and M. Dhatt.
  • "The Changing World of Banking and Finance," Essays in Honor of Professor S.W. Kang, 1993, 3-24. (Invited Lead Article)
  • "Managerial Preferences and Investment Decisions Under Uncertainty: A Gamma Preference Framework," Capital Budgeting Under Uncertainty: New and Advanced Perspectives, (edited by R. Aggarwal) Englewood Cliffs, NJ: Prentice Hall, 1993,120-139, with B. N. Stedman.
  • "A Contingent Claims Analysis of Trade Credit," Financial Management, 21 (3), Autumn 1992, 95-103, with P. D. Adams and S. B. Wyatt.
  • "Designing and Implementing Knowledge Based Systems for Corporate Financial Applications Using Relational Database Management Systems," Expert Systems in Finance, (edited by D. E. O'Leary and P. R. Watkins), Elsevier Science Publishers, 1992, 101-123, with V. Srinivasan and B. Ruparel.
  • "International Cash Management: State of the Art and Research Directions," Advances in Financial Planning and Forecsting: International Dimensions, (edited by C.F. Lee and R. Aggarwal), Greenwich, CT: JAI Press, 4 (B), 1990, 161-193, with V. Srinivasan and S.E. Moeller.
  • "An Integrated Evaluation of Credit and Inventory: A Cash Flow Approach," Journal of Business Finance and Accounting, 17 (3), 1990, 381-390, with K. H. Chung.
  • "Economic Analysis of Inventory Systems: A Further Clarifying Analysis," The Engineering Economist, 35 (1), Fall 1989, 75-80, with K. H. Chung.
  • "Inventory Management Under Uncertainty: A Financial Theory for the Transactions Motive," Managerial and Decision Economics, 10 (4), December 1989, 291-298, with K. H. Chung.
  • "A Framework for Integrating the Leasing Alternative with Capital Budgeting Decision," Advances in Financial Planning and Forecasting, (edited by C. F. Lee), Greenwich, CT: JAI Press, 3, 1989, 75-93, with V. Srinivasan and P. J. Bolster.
  • "Designing Expert Financial Systems: A Case Study of Corporate Credit Management," Financial Management, 1988, 3244, with V. Srinivasan. The winner of the 1988 Credit Research Foundation Award for the best paper in the economics of credit management. Reprinted in part in Management Information Systems, 4th ed., Macmillan Publishing Co., R McLeod, Jr., 1990 and in Artificial Intelligence in Financial Services, Ballinger Publishing Co., J Keyes, 1990.
  • "Integrating Corporate Strategy and Multinational Capital Budgeting: An Analytical Framework," (edited by S. J. Khoury and A. Ghosh), Recent Developments in International Banking and Finance, Lexington, MA: D. C. Heath and Company, 1988, 381-397, with V. Srinivasan.
  • "Credit Granting: A Comparative Analysis of Classification Procedures," Journal of Finance, 42 (3), 1987, 665-681, with V. Srinivasan.
  • "Effective Cash Management Through Variance Analysis," Canadian Cash Management Journal (CMAC), 3 (2), 1987, 41-45, with V. Srinivasan. (Invited Article)
  • "The Bierman Hausman Credit Granting Model: A Note," Management Science, 33 (10), 1987, 1361-1362, with V. Srinivasan.
  • "Evaluating Interrelated Capital Projects: An Alternative Framework," The Engineering Economist, 33 (1), 1987, 13-30, with V. Srinivasan.
  • "Decision Support for Integrated Cash Flow Management," Decision Support Systems, 2 (4), 1986, 347-363, with V. Srinivasan.
  • "Abandonment Value in Capital Budgeting: A Mathematical Programming Approach," Computers and Operations Research, 13 (6), 1986, 721-733, with V. Srinivasan and A. F. Thompson.
  • "The Impact of Corporate Pension Plan Reversions on Retirement Benefits," Journal of Insurance Issues and Practice, 9 (2), 1986, 44-56, with F. W. McKenna, A. F. Thompson and P. W. Glasgo.
  • "Managerial Risk Preferences, Real Pension Costs, and Long Run Corporate Pension Investment Policy," Journal of Risk and Insurance, 53 (1), 1986, 29-48, with F. W. McKenna. (Lead Article)
  • "Corporate Cash Management in a Developing Economy: The Case of India," The Journal of Cash Management, 6 (3), May-June 1986, 44-49. with V. Srinivasan and S. P. S. Gulati.
  • "Evaluating Investment in Inventory Policy: A Net Present Value Framework," The Engineering Economist, 312, 1986, 119136, with G. C. Philippatos and K. H. Chung. Reprinted in Readings on Short-Term Financial Management, 3rd ed. (edited by K. V. Smith and G. W. Gallinger), St. Paul, MN: West Publishing Co., 1988504 512.
  • "Deterministic Cash Flow Management: State of the Art and Research Directions," OMEGA: The International Journal of Management Science, 14 (2), 1986, 145-166, with V. Srinivasan.
  • "Payments Netting in International Cash Management: A Network Optimization Approach," Journal of International Business Studies, 17 (2), 1986, 1-20, with V. Srinivasan. (Lead Article)
  • "Economic Analysis of Inventory Systems: A Clarifying Analysis," International Journal of Production Research, 23 (4), 1985, 761 767, with K. H. Chung.
  • "A Network Optimization Approach to Efficient Cash Management in India," Asia-Pacific Journal of Operational Research, 2, May 1985, 54-65, with V. Srinivasan.
  • "Cash Flow Management: A Decision Support System Approach," The Journal of Cash Management, 4 (6), November-December 1984, 72-80, with V. Srinivasan. Reprinted in Essentials of Cash Management: A Study Guide Selected Readings, The National Corporate Cash Management (NCCMA), Ch. 7, 1987.
  • "A Net Present Value Framework for Inventory Analysis," International Journal of Physical Distribution, A Special Issue on Interfaces with Marketing and Finance, 146, 1984, 6876, with K. Chung and W. Wood. Translated into Chinese by Beijing Institute of Economics and published in Materials Management Abroad (GUOWAI WUZI GUANLI), No. 3, 1986, pp. 15-19.
  • "Pension Liability Reporting Under ERISA," Employee Benefits Journal, 8 (1), 1983, 2-27, with A. F. Thompson and P. W. Glasgo. (Invited Lead Article)
  • "Evaluating Investment in Accounts Receivable: A Wealth Maximizing Framework," Journal of Finance, 33 (2), 1978, 403-412, with J. C. Atkins. An abstract of the paper was published in The Journal of Economic Literature, 16 (4), 1978, 1785.
  • "Comments and Correction: Opportunity Cost in the Evaluation of Investment in Accounts Receivable," Financial Management, 6 (4), 1977, 71-74, with J. C. Atkins.
  • "A Study on Critical Path Method: Its Fundamentals and Applications," The Korean Business Journal, 3 (2), 1969, 66-92. (Invited Article in Korean)
Affiliations
Honors & Achievements
  • Co-Founder Recognition, 2008: 15th Joint Conference of Finance Associations in Korea and the U.S., May, Dogo, Korea.
  • Hyeongnam Distinguished Scholar Award, 2007: The 110th Founder's Day Anniversary of Soongsil University, Seoul, Korea, October 10.
  • Best Paper Award, 2006: The 13th Global Finance Conference. Bovespa - Bolsa de Valores de Sao Paulo "Corporate Governance and Diversification".
  • Best Paper Award, 2001:PACAP/FMA Joint Conference "Financing Valuable Investment Projects in Japan: Agency Costs, Organizational Structure," Seoul, Korea.
  • Faculty Achievement Award, 1995: In recognition of significant contributions to the profession and to the mission of the University of Cincinnati in teaching, research, and service.
  • Quality Research Award, 1995: The 2nd Global Finance Conference, "Why Do Companies Pay Stock Dividends?: Evidence from Korea", San Diego, CA
  • Distinguished Service Award, 1994: The 10th Anniversary International Symposium on Cash, Treasury and Working Capital Management in recognition of the service as the founder and executive program director.
  • Credit Research Foundation Award, 1990: The best paper in Financial Management on the economics of managing credit. Paper Title: "Designing Expert Financial Systems: A Case Study of Corporate Credit Management," Financial Management, Vol. 17, No.3, Autumn 1988, pp. 32-44, with V. Srinivasan.
  • CBA Faculty Fellow and CBA Professor, 1988: The honor recognizes extraordinary accomplishment in research, teaching, service to College, leadership in the profession, and professional teamwork among colleagues.
  • Fulbright Scholar, 1989: Nominated by the Council for International Exchange of Scholars (Washington, DC) in 1987 and awarded for the 1988-89 Fulbright Lectureship at Seoul National University by the Korean-American Educational Commission (Fulbright Program, Seoul) and the Board of Foreign Scholars
  • Distinguished Applied Research Award Finalist, 1987: Financial Management Association. Paper Title: "Finance Theory, Corporate Strategy, and the Analytic Hierarchy Process," with V. Srinivasan.
  • Provostal Support Program for Faculty Award (University Research Council), University of Cincinnati, 1985. Project Title: "Corporate Cash Management in the Asia-Pan-Pacific Basin." The results of this research project have been incorporated in the following three publications: "Corporate Cash Ma
  • Distinguished Contributed Paper Award at the National American Institute for Decision Sciences XVth Annual Meeting at San Antonio, Texas, 1983. Paper Title: "Managerial Risk Preferences, Real Pension Costs, and Long-Run Corporate Penison Investment Policy," with F. McKenna, published in the Journa
  • Beta Gamma Sigma (National Scholastic Honorary in Business Administration), 1981.
  • Alpha Iota Delta (National Decision Sciences Honorary), 1975.
  • Summa Cum Laude, Presidential Citation for the Highest Scholastic Achievements, Seoul National University, 1968.
  • Korean Government Scholarship for Graduate Study at the Graduate School of Business Administration, Seoul National University, 1966-68.
  • Presidential Award Winner of the Nationwide Collegiate Competition in a Business Game of Shareholders' Meeting, Korea University, 1964.
  • Elder Koh's Scholarship for Undergraduate Study, Soongsil University, 1963-64.
Education
  • PhD Business Administration, The Pennsylvania State University, Majored in Finance with International Economics and Management Science as supporting fields.
  • MBA Finance and Quantitative Business Analysis, Virginia Polytechnic Institute and State University.
  • MBA Production Management, Seoul National University.
  • BA Business Administration, Soong Sil University.
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