Jun-Koo Kang

Publications
Influence

Why is There a Home Bias? An Analysis of Foreign Portfolio Equity Ownership in Japan

Jun-Koo Kang, René Stulz
Economics, Business
1 July 1995

This paper uses data on foreign stock ownership in Japan from 1975 to 1991 to examine the determinants of the home bias in portfolio holdings. Existing models of international portfolio choice… Expand

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Tunneling or Value Added? Evidence from Mergers by Korean Business Groups

Kee-Hong Bae, Jun-Koo Kang, Jin-Mo Kim
Economics
1 December 2002

We examine whether firms belonging to Korean business groups (chaebols) benefit from acquisitions they make or whether such acquisitions provide a way for controlling shareholders to increase their… Expand

Corporate governance and firm value: evidence from the Korean financial crisis

Jae-Seung Baek, Jun-Koo Kang, K. S. Park
Business
1 February 2004

We show that during the 1997 Korean financial crisis, chaebol firms with higher ownership concentration by unaffiliated investors experience a smaller reduction in their share value. Firms with… Expand

Corporate Social Responsibility and Stakeholder Value Maximization: Evidence from Mergers

X. Deng, Jun-Koo Kang, Buen Sin Low
1 March 2013

Using a large sample of mergers in the U.S., we examine whether corporate social responsibility (CSR) creates value for acquiring firms’ shareholders. We find that compared to low CSR acquirers, high… Expand

Firm performance, corporate governance, and top executive turnover in Japan

Jun-Koo Kang, A. Shivdasani
Business
1 May 1995

We examine the role of corporate governance mechanisms during top executive turnover in Japanese corporations. Consistent with evidence from U.S. data, the likelihood of nonroutine turnover is… Expand

Corporate Restructuring During Performance Declines in Japan

Jun-Koo Kang, A. Shivdasani
Business
1 October 1997

This paper documents the restructuring of 92 Japanese corporations that experienced a substantial decline in operating performance during 1986 to 1990. We find that these Japanese firms implement a… Expand

Employee Treatment and Firm Leverage: A Test of the Stakeholder Theory of Capital Structure

Kee-Hong Bae, Jun-Koo Kang, J. Wang
Economics
18 May 2010

We investigate the stakeholder theory of capital structure from the perspective of a firm's relations with its employees. We find that firms that treat their employees fairly (as measured by high… Expand

How Different is Japanese Corporate Finance? An Investigation of the Information Content of New Security Issues

Jun-Koo Kang, René Stulz
Economics, Business
1 October 1994

This paper studies the shareholder wealth effects associated with 875 new security issues in Japan from January 1, 1985 to May 31, 1991. The sample includes public equity, private equity, rights… Expand

Local institutional investors, information asymmetries, and equity returns

Bok Baik, Jun-Koo Kang, Jin-Mo Kim
2009

We examine the informational role of geographically proximate institutions in stock markets. We find that both the level of and change in local institutional ownership predict future stock returns,… Expand

The international market for corporate control *1: Mergers and acquisitions of U.S. firms by Japanese firms

Jun-Koo Kang
Business, Economics
1 December 1993

Abstract Japanese mergers and acquisitions in the U.S. create statistically significant wealth gains for both Japanese bidders and U.S. targets. Consistent with the literature on foreign direct… Expand

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