Faculty
LEE, JONGSUB
Professor of Finance / Finance
Contact
02-880-6952
Building 59-1 Rm 608
jongsub.lee@snu.ac.kr
HomepageProfessor Introduction
Jongsub Lee is Professor of Finance at Seoul National University (SNU). Before joining SNU, he was Assistant Professor of Finance at the University of Florida (UF), Warrington College of Business, and was also named the UF Foundation Preeminence Term Professor for his outstanding record of academic accomplishment. His main areas of research include corporate finance, corporate governance, and banking. His work has been published in leading academic journals, such as the Journal of Finance (JF), the Journal of Financial Economics (JFE), the Review of Financial Studies (RFS), the Review of Asset Pricing Studies (RAPS), the Review of Corporate Finance Studies (RCFS), and the Journal of Accounting and Economics (JAE). He is the Editor-in-Chief of the Asia-Pacific Journal of Financial Studies by the Korean Securities Association (KSA). He also serves as the associate editor of various academic journals, including the Financial Review by the Eastern Finance Association, the International Review of Finance, and the Pacific-Basin Finance Journal by the Asian Finance Association (AsianFA). He was a vice president of the KSA and a director of the Korean Finance Association (KFA), the Korean Association of Financial Engineering (KAFE), and the Korean Financial Management Association. At SNU, he served as the vice director of the Institute of Management Research at SNU Business School and the vice director of the SNU EMBA program. He is currently the vice director of the Advanced Management Program (AMP) for top executives of leading Korean corporations.
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Education & Experiences
Education
Ph.D. Finance, NYU Stern, 2011.
M.Phil. Finance, NYU Stern, 2009.
M.Sc. Financial Eng., Columbia University, 2004.
B.Sc. Mechanical Eng., Summa Cum Laude, Seoul National University, 2003.
Academic Positions
Full Professor, Seoul National University, Department of Finance, 2024-present.
Associate Professor, Seoul National University, Department of Finance, September 2018-2023.
Assistant Professor, University of Florida (UF), Department of Finance, 2010-August 2018; University Chair Professor, 2016-2018.
Visiting Research Professor, NYU Stern, Department of Finance, 2017 Fall.
Honors and Awards
The 4th K-Management Innovative Research Award, The Korean Academic Society of Business Administration, 2024.
AJFS Best Paper Award, 2023.
Best Paper Award in Corporate Finance, Semi-finalist, Financial Management Association, 2023.
Best Paper Award (x2), Winner, The Joint Conference with the Allied Korean Finance Associations, 2023.
Best Paper Award, Winner, The Korean Finance Association, 2021 Fall Research Symposium.
Best Paper Award, Winner, The Joint Conference with the Allied Korean Finance Associations, 2021.
Best Paper Award, Winner, The 15th International Conference on Asia-Pacific Financial Markets, 2020.
Best Paper Award, Winner, FMA Asia/Pacific Conference, 2019.
Best Paper Award, Winner, The 13th International Conference on Asia-Pacific Financial Markets, 2018.
IFSID Derivatives Research Grant, 2017.
Best Paper Award in Investments, Semi-finalist, Financial Management Association, 2017.
University Professorship, UF Office of the Provost, 2016-2018.
Young Scholar Award, Korea-America Finance Association, 2016.
Second Place Winner, The 22nd Chicago Quantitative Alliance (CQA) Annual Academic Competition, 2016.
Outstanding Paper Award, Winner, The 11th Annual Mid-Atlantic Research Conference in Finance, 2016.
Best Paper Award, Winner, The 11th International Conference on Asia-Pacific Financial Markets, 2016.
The 9th Shinhan Bank Best Paper Award, Winner, Korea America Finance Association, 2015.
Best Paper Award in Investments, Semi-finalist, Financial Management Association, 2014.
Best Paper Award, Semi-finalist, Financial Management Association, Asian Meeting 2014.
Best Paper Award, Winner, The 8th International Conference on Asia-Pacific Financial Markets, 2013.
Wharton Research Data Services Best Empirical Paper Award, Winner, Southern Finance Association, 2013.
Best Paper Award in Corporate Finance, Semi-finalist, Financial Management Association, 2012.
Beta Gamma Sigma, NYU Stern School of Business Chapter, 2011.
Best Ph.D. Paper Award, Finalist, European Finance Association, 2010.
Best Ph.D. Paper Award, Winner, Financial Management Association European Meeting, 2010.
Best Dissertation Proposal Award in International Finance, Winner, Financial Management Association, 2009.
C.W. Nichols Foundation Fellowship, NYU Stern, 2009.
Commendation for Teaching Excellence, NYU Stern UG Program, 2008.
NYU Stern School of Business Fellowship, 2005-2009.
Samsung Scholarship, Samsung, Korea, 2005-2009.
Scholarship for Academic Excellence, Seoul National University, 1998-2003.
Ph.D. Finance, NYU Stern, 2011.
M.Phil. Finance, NYU Stern, 2009.
M.Sc. Financial Eng., Columbia University, 2004.
B.Sc. Mechanical Eng., Summa Cum Laude, Seoul National University, 2003.
Academic Positions
Full Professor, Seoul National University, Department of Finance, 2024-present.
Associate Professor, Seoul National University, Department of Finance, September 2018-2023.
Assistant Professor, University of Florida (UF), Department of Finance, 2010-August 2018; University Chair Professor, 2016-2018.
Visiting Research Professor, NYU Stern, Department of Finance, 2017 Fall.
Honors and Awards
The 4th K-Management Innovative Research Award, The Korean Academic Society of Business Administration, 2024.
AJFS Best Paper Award, 2023.
Best Paper Award in Corporate Finance, Semi-finalist, Financial Management Association, 2023.
Best Paper Award (x2), Winner, The Joint Conference with the Allied Korean Finance Associations, 2023.
Best Paper Award, Winner, The Korean Finance Association, 2021 Fall Research Symposium.
Best Paper Award, Winner, The Joint Conference with the Allied Korean Finance Associations, 2021.
Best Paper Award, Winner, The 15th International Conference on Asia-Pacific Financial Markets, 2020.
Best Paper Award, Winner, FMA Asia/Pacific Conference, 2019.
Best Paper Award, Winner, The 13th International Conference on Asia-Pacific Financial Markets, 2018.
IFSID Derivatives Research Grant, 2017.
Best Paper Award in Investments, Semi-finalist, Financial Management Association, 2017.
University Professorship, UF Office of the Provost, 2016-2018.
Young Scholar Award, Korea-America Finance Association, 2016.
Second Place Winner, The 22nd Chicago Quantitative Alliance (CQA) Annual Academic Competition, 2016.
Outstanding Paper Award, Winner, The 11th Annual Mid-Atlantic Research Conference in Finance, 2016.
Best Paper Award, Winner, The 11th International Conference on Asia-Pacific Financial Markets, 2016.
The 9th Shinhan Bank Best Paper Award, Winner, Korea America Finance Association, 2015.
Best Paper Award in Investments, Semi-finalist, Financial Management Association, 2014.
Best Paper Award, Semi-finalist, Financial Management Association, Asian Meeting 2014.
Best Paper Award, Winner, The 8th International Conference on Asia-Pacific Financial Markets, 2013.
Wharton Research Data Services Best Empirical Paper Award, Winner, Southern Finance Association, 2013.
Best Paper Award in Corporate Finance, Semi-finalist, Financial Management Association, 2012.
Beta Gamma Sigma, NYU Stern School of Business Chapter, 2011.
Best Ph.D. Paper Award, Finalist, European Finance Association, 2010.
Best Ph.D. Paper Award, Winner, Financial Management Association European Meeting, 2010.
Best Dissertation Proposal Award in International Finance, Winner, Financial Management Association, 2009.
C.W. Nichols Foundation Fellowship, NYU Stern, 2009.
Commendation for Teaching Excellence, NYU Stern UG Program, 2008.
NYU Stern School of Business Fellowship, 2005-2009.
Samsung Scholarship, Samsung, Korea, 2005-2009.
Scholarship for Academic Excellence, Seoul National University, 1998-2003.
Publications
Research Papers
1. Lee, Jongsub, Kwang J. Lee, and Nandu J. Nagarajan. "Birds of a feather: Value implications of political alignment between top management and directors." Journal of Financial Economics 112, no. 2 (2014): 232-250.
2. Lee, Jongsub, Andy Naranjo, and Stace Sirmans. "Exodus from sovereign risk: Global asset and information networks in the pricing of corporate credit risk." The Journal of Finance 71, no. 4 (2016): 1813-1856.
3. Lee, Jongsub, Andy Naranjo, and Guner Velioglu. "When do CDS spreads lead? Rating events, private entities, and firm-specific information flows." Journal of Financial Economics 130, no. 3 (2018): 556-578.
4. Houston, Joel F., Jongsub Lee, and Felix Suntheim. "Social networks in the global banking sector." Journal of Accounting and Economics 65, no. 2-3 (2018): 237-269.
5. Lee, Jongsub, Andy Naranjo, and Stace Sirmans. "CDS momentum: Slow-moving credit ratings and cross-market spillovers." The Review of Asset Pricing Studies 11, no. 2 (2021): 352-401.
6. Lee, Jongsub, Tao Li, and Donghwa Shin. "The wisdom of crowds in fintech: Evidence from initial coin offerings." The Review of Corporate Finance Studies 11, no. 1 (2022): 1-46.
7. Bartram, Söhnke M., Jennifer Conrad, Jongsub Lee, and Marti G. Subrahmanyam. "Credit default swaps around the world." The Review of Financial Studies 35, no. 5 (2022): 2464-2524.
8. Kim, Sehoon, Nitish Kumar, Jongsub Lee, and Junho Oh. "ESG lending." European Corporate Governance Institute - Finance Working Paper, no. 817. 2022 (R&R at JFE).
9. Lee, Jongsub, Hojong Shin, and Hayong Yun. "Family Feud: Succession Tournaments and RiskR08;Taking in Family Firms." Asia-Pacific Journal of Financial Studies 52, no. 3 (2023): 324-353.
10. Liu, Yunxiao, Woojin Kim, and Jongsub Lee. "Control Beyond Ownership: Open-Book Accounting in Unbalanced Supply Chain Networks." Asia-Pacific Journal of Financial Studies 52, no. 6 (2023): 979-1013.
Book Chapter Contributions
1. Sustainable Private Capital Markets, Climate Change and Climate Finance: Current Experience and Future Directions (2023), Asian Development Bank Publication (Edited by Moshirian, Fariborz and Cyn-Young Park).
Other Media Citations
1. Harvard Business Review, May 2014, "When the Board Agrees with the CEO's Politics, Oversight Suffers."
2. The Boston Globe, March 2, 2014, "Be creative - like a criminal: And more surprising insights from the social sciences."
3. Board Alert, July 2014, "Thought Leadership Snapshot: When the Board Agrees with the CEO's Politics, Oversight Suffers."
4. Columbia Law School (CLS) Blue Sky Blog, October 20, 2016, "Shades of Gray in Board Independence."
5. Bloomberg, December 5, 2017, "Agency Costs and Hedge-Fund Size."
6. Harvard Law School Forum on Corporate Governance, December 30, 2017, "Credit Default Swaps, Agency Problems, and Management Incentives."
7. Harvard Law School Forum on Corporate Governance, April 11, 2018, "The Information Value of Corporate Social Responsibility."
8. Duke Law School The FinReg Blog, July 24, 2018, "The Wisdom of Crowds in Initial Coin Offerings."
9. UN PRI Blog, July 20, 2022, "Sustainability-linked loans: A strong ESG commitment or a vehicle for greenwashing?"
1. Lee, Jongsub, Kwang J. Lee, and Nandu J. Nagarajan. "Birds of a feather: Value implications of political alignment between top management and directors." Journal of Financial Economics 112, no. 2 (2014): 232-250.
2. Lee, Jongsub, Andy Naranjo, and Stace Sirmans. "Exodus from sovereign risk: Global asset and information networks in the pricing of corporate credit risk." The Journal of Finance 71, no. 4 (2016): 1813-1856.
3. Lee, Jongsub, Andy Naranjo, and Guner Velioglu. "When do CDS spreads lead? Rating events, private entities, and firm-specific information flows." Journal of Financial Economics 130, no. 3 (2018): 556-578.
4. Houston, Joel F., Jongsub Lee, and Felix Suntheim. "Social networks in the global banking sector." Journal of Accounting and Economics 65, no. 2-3 (2018): 237-269.
5. Lee, Jongsub, Andy Naranjo, and Stace Sirmans. "CDS momentum: Slow-moving credit ratings and cross-market spillovers." The Review of Asset Pricing Studies 11, no. 2 (2021): 352-401.
6. Lee, Jongsub, Tao Li, and Donghwa Shin. "The wisdom of crowds in fintech: Evidence from initial coin offerings." The Review of Corporate Finance Studies 11, no. 1 (2022): 1-46.
7. Bartram, Söhnke M., Jennifer Conrad, Jongsub Lee, and Marti G. Subrahmanyam. "Credit default swaps around the world." The Review of Financial Studies 35, no. 5 (2022): 2464-2524.
8. Kim, Sehoon, Nitish Kumar, Jongsub Lee, and Junho Oh. "ESG lending." European Corporate Governance Institute - Finance Working Paper, no. 817. 2022 (R&R at JFE).
9. Lee, Jongsub, Hojong Shin, and Hayong Yun. "Family Feud: Succession Tournaments and RiskR08;Taking in Family Firms." Asia-Pacific Journal of Financial Studies 52, no. 3 (2023): 324-353.
10. Liu, Yunxiao, Woojin Kim, and Jongsub Lee. "Control Beyond Ownership: Open-Book Accounting in Unbalanced Supply Chain Networks." Asia-Pacific Journal of Financial Studies 52, no. 6 (2023): 979-1013.
Book Chapter Contributions
1. Sustainable Private Capital Markets, Climate Change and Climate Finance: Current Experience and Future Directions (2023), Asian Development Bank Publication (Edited by Moshirian, Fariborz and Cyn-Young Park).
Other Media Citations
1. Harvard Business Review, May 2014, "When the Board Agrees with the CEO's Politics, Oversight Suffers."
2. The Boston Globe, March 2, 2014, "Be creative - like a criminal: And more surprising insights from the social sciences."
3. Board Alert, July 2014, "Thought Leadership Snapshot: When the Board Agrees with the CEO's Politics, Oversight Suffers."
4. Columbia Law School (CLS) Blue Sky Blog, October 20, 2016, "Shades of Gray in Board Independence."
5. Bloomberg, December 5, 2017, "Agency Costs and Hedge-Fund Size."
6. Harvard Law School Forum on Corporate Governance, December 30, 2017, "Credit Default Swaps, Agency Problems, and Management Incentives."
7. Harvard Law School Forum on Corporate Governance, April 11, 2018, "The Information Value of Corporate Social Responsibility."
8. Duke Law School The FinReg Blog, July 24, 2018, "The Wisdom of Crowds in Initial Coin Offerings."
9. UN PRI Blog, July 20, 2022, "Sustainability-linked loans: A strong ESG commitment or a vehicle for greenwashing?"
