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Kho, Bong-Chan
Kho, Bong-Chan
Professor of Finance / Finance
Contact
RoomBldg 59-1, Room 605 emailbkho@snu.ac.kr HomepageHomepage

Professor Introduction

Professor Bong-Chan Kho is Professor of Finance at Seoul National University Business School. He received his B.A. and M.A. in Business Administration from Seoul National University and his Ph.D. in Finance from The Ohio State University. His research spans Investments, Asset Pricing, Corporate Finance, Derivatives, and International Finance. His scholarly work has appeared in leading academic journals, including the Journal of Financial Economics, Review of Financial Studies, American Economic Review, Journal of Accounting Research, Journal of Banking and Finance, and Journal of Empirical Finance.

Professor Kho has held numerous leadership and administrative roles at SNU, including Associate Dean for the MBA Program, Director of the Institute of Finance and Banking (IFB), and Director of the Advanced Banking Program (ABP). He served as President of the Korean Securities Association (KSA) in 2017, and was Editor of the Asia-Pacific Journal of Financial Studies, the first SSCI-listed finance journal in the Asia-Pacific region. His professional service extends to roles as Vice President of the Korea America Finance Association (KAFA), Board Member of the Asia Finance Association (AsFA), and Program Committee member for the WFA, FMA, and EFMA.

Education & Experiences

[Education]

  • Ph.D. in Finance, The Ohio State University, USA
  • M.A. in Business Administration, Seoul National University
  • B.A. in Business Administration, Seoul National University

[Academic & Administrative Positions]

  1. Professor of Finance, Seoul National University Business School (1997-Present)
  2. Samick Endowed Chair Professor, Seoul National University Business School
  3. Director, Institute of Finance and Banking, Seoul National University
  4. Associate Dean, Graduate School of Business, Seoul National University
  5. Director, SNU MBA Program, Seoul National University
  6. Director, Ph.D. Program in Business Administration, Seoul National University
  7. Director, Business Library, Seoul National University
  8. Faculty Advisor, Laboratory for Financial Risk Management (LFiRM), Seoul National University
  9. President, Korean Securities Association

[Government and Public Service]

  1. Chair, Deposit Fund Management Committee, Korea Post (Ministry of Science and ICT)
  2. Member, Public Fund Oversight Committee, Financial Services Commission
  3. Member, Capital Markets Advisory Committee, Financial Supervisory Service
  4. Chair, Stock Index Management Committee, Korea Exchange (KRX)
  5. Member, Investment Policy Advisory Committee, National Pension Service
  6. Member, Asset Management Committee, Teachers’ Pension
  7. Member, Asset Management and Risk Management Committees, Government Employees Pension Service
  8. Member, Public Fund Evaluation Committee, Ministry of Planning and Budget
  9. Member, Budget Evaluation Committee, Bank of Korea

[Corporate Advisory and Board Memberships]

  1. Outside Director: Hyundai Department Store, Shin Young Securities, Hyundai Motor Securities, Mirae Asset Global Investments, Sindoh, SFA
  2. Advisory Roles: Hana Bank, Korea Hydro & Nuclear Power, Korea Expressway Corporation, Korea Securities Depository, and others

[Honors and Awards]

  1. SERI Mid-Career Scholar Award, Korean Academic Society of Business Administration (2015)
  2. Outstanding Research Award, Seoul National University Business School (2001, 2010, 2012)
  3. Outstanding Teaching Award, Seoul National University Business School (2008)
  4. Best Paper Awards, Korean Securities Association (2003, 2007, 2010, 2013, 2015)
  5. Namgok Academic Award, Korean Financial Management Association (2006, 2012)
  6. Maeil Business Economist Award (2006)
  7. National Research Foundation of Korea, Ten-Year Representative Research Achievement (2012)
  8. Best Paper Award, Shinhan Bank & KAFA (2011)
  9. Best Paper Award, International Conference on Asia-Pacific Financial Markets (2006)
  10. INQUIRE-UK Research Grant Award (2006)
  11. BSI Gamma Foundation Research Grant Award (2006)
  12. Dice Center Research Fellow, The Ohio State University (2003~2005)
  13. Recognized as one of Asia’s Top 20 Finance Researchers, Pacific-Basin Finance Journal (2001)

Publications

[Research Areas]

  • Investments, Asset Pricing, Corporate Finance, Derivatives, International Finance

[Selected International Publications]

  1. Intangible Capital and Market Reactions to Earnings News, Asia-Pacific Journal of Financial Studies, Vol. 51, 2022
  2. What Factors Drive Global Stock Returns? Review of Financial Studies, Vol. 24, No. 8, August 2011
  3. The Impact and Role of Foreign Investors in Korea, Asian Review of Financial Research, Vol. 24, No. 1, February 2011
  4. Financial Globalization, Governance, and the Evolution of the Home Bias, Journal of Accounting Research, Vol. 47, No. 2, May 2009
  5. Does National Pension Service's Trading Destabilize Korean Stock Market? Asia-Pacific Journal of Financial Studies, Vol. 37, No. 3, June 2008
  6. Do Domestic Investors Have an Edge? The Trading Experience of Foreign Investors in Korea, Review of Financial Studies, Vol. 18 No. 3, 2005
  7. Momentum Strategies: Some Bootstrap Tests, Journal of Empirical Finance, Vol. 11, No. 4, 2004
  8. U.S. Banks, Crisis, and Bailouts: From Mexico to LTCM, American Economic Review, Vol. 90, No. 2, 2000
  9. Banks, the IMF, and the Asian Crisis, Pacific-Basin Finance Journal, Vol. 8, 2000
  10. Do Foreign Investors Destabilize Stock Markets? The Korean Experience in 1997, Journal of Financial Economics, Vol. 54, No. 2, 1999
  11. Time-varying Risk Premia, Volatility, and Technical Trading Rule Profits: Evidence from Foreign Currency Futures Markets, Journal of Financial Economics, Vol. 41, No. 2, 1996
  12. Information, Trading, and Stock Returns: Lessons from Dually-listed Securities, Journal of Banking and Finance, Vol. 20, No. 7, 1996

[Selected Korean Publications]

  1. Comparative Study of Stock Price Prediction Using Technology Innovation Indicators Based on Patent Information, Korean Journal of Financial Management, 41(3), 2024.
  2. Current Regulations on Corporate Valuation and the Need for Introduction of Discounted Cash Flow Method, Korean Journal of Financial Studies, 52(2), 2023.
  3. Profitability of Trend Factors in Korean Stock Markets, Korean Journal of Financial Management, 38(2), 2021.
  4. Anticipated Financial Effects and Promotion of No-Par Share System in Korea, Korean Journal of Financial Studies, 47(2), 2018.
  5. Who Drives Return Reversals of Lottery Stocks with Extreme Past Returns in Korean Stock Market?, Korean Journal of Financial Management, 34(3), 2017.
  6. Review on the Impact of Stock Market Opening and Foreign Investors in Korea, Korean Management Review, 46(4), 2017.
  7. Price and Volume Effects Associated with ELW Issuance in Korea, Korean Journal of Futures and Options, 24(1), 2016.
  8. Low Volatility Anomaly and Its Profitability in Korean Stock Markets, Korean Journal of Financial Studies, 43(3), 2014.
  9. The Performance of Actively Managed Mutual Funds and its Determinants in Korea, Korean Journal of Financial Management, 28(4), 2011.
  10. Time-varying Risk Premia and Profits from Portfolio Trading Strategies in the U.S. Stock Markets, Seoul Journal of Business, 4(1), 1998.

[Selected Research & Advisory Reports]

  1. Financial Theoretical Rationale for the Use of the Discounted Cash Flow Method in Listed Firm Valuation, Seoul National University, 2022.
  2. Enhancing Stock Market Liquidity, Seoul National University, 2015.
  3. Case Analysis of the Stock Price Manipulation Incident in the Acquisition Process of Korea Exchange Bank Card, Seoul National University, 2013.
  4. Changes in Investor Risk Preferences in Response to Stock Market Volatility, Seoul National University, 2012.
  5. Advisory Opinion on the Korean ELW Market and Direct Market Access (DMA) Trading, Seoul National University, 2011.
  6. Market Research Report on Newly Introduced ELW Financial Products, Seoul National University, 2010.
  7. Mid- and Long-Term Asset Allocation Strategy for the Government Employees Pension Service, 2010.
  8. Advisory Opinion on the Fair Value Determination of Stock Purchase Prices, Seoul National University, 2010.
  9. Management Performance Evaluation Report for KEPCO Subsidiaries, Korea Electric Power Corporation, 2008.
  10. Financial Policy of POSCO, Seoul National University, 2008.
  11. A Study on Building Social Consensus for IPOs and Listings of the Korea Exchange (KRX), Korea Stock Exchange, 2005
  12. Development of a Shareholder-Oriented Stock Price Index: Construction of a Dividend Index, Korea Stock Exchange, 2003.
  13. Report on Institutional Improvements in Securities Underwriting Practices, Korean Securities Association / Korea Securities Dealers Association / Korea Stock Exchange, 2002.
  14. A Financial Approach to Mergers and Acquisitions (M&A), Korean Institute of Certified Public Accountants, 2001.
  15. Development of a Pricing Model for Speculative-Grade Bonds, KIS Pricing Co., Ltd., 2000.
  16. Pricing of Floating-Rate Bank Debentures Issued by Policy Banks, Korea Development Bank, 2000.
  17. Optimal Portfolio Management Strategies for Primary Government Bond Dealers, Korea Housing Bank, 1999.

[Books]

  1. Handbook of Finance Research in Korea, Vol. 1, Korea Finance Association, 2012.
  2. Value: What Is Corporate Value? (Korean translation of McKinsey & Co., Wiley), Infinity Books, 2011.
  3. A Case Study on Strategies for the Global Expansion of Korean Financial Institutions, Business Case Series, Institute of Management Research, Seoul National University, 2011.
  4. Cyber Financial Risk Management, Seoul National University, 2003.
  5. Characteristics of High-Performing Firms Based on Shareholder Value Creation in the 1990s, in New Paradigm in Business Administration, Pakyoungsa Publishing, 2001.
  6. Capital Structure and Dividend Policy of Korean Firms, in New Paradigm in Business Administration, Pakyoungsa Publishing, 2001.

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