![](\"https:\/\/econ.cau.ac.kr\/wp-content\/uploads\/2025\/02\/professor_17-570x570-1.jpg\" "\\"professor_17-570×570\\"")
<\/span><\/div><\/div><\/div>Suh, Sangwon<\/h3>\n
Email : ssuh@cau.ac.kr
\nPhone : 02-820-5492
\nRoom : 1024 Centennial
\nPersonal Webpage :<\/p>\n<\/div><\/div><\/div><\/div><\/div>
Education and Professional Experience<\/h4><\/a><\/li>
Research and Teaching<\/h4><\/a><\/li><\/ul><\/div>
\nEducation<\/h5>\n
Ph. D. Economics, University of Virginia, USA. 2005
\nM.A., Economics, Seoul National University, MA in Economics. 1991
\nB.A., Economics, Seoul National University, BA in Economics. 1989<\/p>\nExperience<\/h5>\n
2010 ~ Present Professor, Department of Economics, Chung-Ang University
\n2008 ~ 2010 Associate Professor, Department of Economics, College of Economics, Hanyang University
\n1991 ~ 2008 Bank of Korea
\n2005 ~ Present Member, Financial Risk Management Committee, Korea Railroad Corporation
\n2014 ~ 2015 Advisory Committee Member, Finance Division, Korea Railroad Corporation
\n2012 ~ 2013 Financial Supervisory Commission Risk Review Committee Advisory Committee
\n2013 ~ 2015 Financial Supervisory Commission External Evaluation Commission
\n2014 ~ 2016 Financial Supervisory Commission of Mutual Savings Bank
\n2014 ~ Current Construction Employee Mutual Aid Association Risk Management Committee Member<\/div>\nResearch Interests<\/h5>\n
Financial Economics, Derivatives of Financial Products, Monetary Finance<\/p>\n
Courses<\/h5>\n
(Undergraduate) Financial Economics, Monetary Finance, Retrospective Financial Products
\n(Graduate) Financial Economics<\/p>\nSelected Publications<\/h5>\n[\ud559\uc220\uc9c0 \uac8c\uc7ac \ub17c\ubb38 \u2013 \uc601\ubb38 SSCI]\n
1. Measuring income and wealth inequality: A note on the Gini coefficient for samples with negative values (with Dong Yub Lee), Social Indictors Research. Forthcoming.
\n2. Procyclical variation margins in central clearing (with YangKyu Jin), North America Journal of Economics and Finance 70, 2024. Article 102039.
\n3. Conditionally-hedged currency carry trades (with Jin Ho Choi), Journal of International Financial Markets, Institutions & Money 79, 2022. Article 101591.
\n4. Inflation Targeting and Expectation Anchoring: Evidence from Developed and Emerging Market Economies (with Daehwan Kim), North American Journal of Economics and Finance 58, 2021. Article 101535.
\n5. Stock market tail risk, tail risk premia, and return predictability (with Eungyu Yoo, and Sun-Joong Yoon), Journal of Futures Markets 41, 2021. pp.1569-1596.
\n6. A filtered currency carry trade (with Jin Ho Choi), North American Journal of Economics and Finance 58, 2021. Article 101472.
\n7. Overnight stock returns, intraday returns, and firm-specific investor sentiment (with Byungoh Kim), North American Journal of Economics and Finance 55, 2021. Article 101287.
\n8. Asset correlation and bank capital regulation: A macroprudential perspective, International Review of Economics and Finance 62, 2019. pp. 355-378.
\n9. Unexploited Currency Carry Trade Profit Opportunity, Journal of International Financial Markets, Institutions & Money 58, 2019. pp. 236-254.
\n10. Firm-level inventory dynamics in Korea: A production-augmented (S, s) inventory model (with Bong Geul Chun and Byungjae Choi), Asian Economic Journal 32(4), 2018. pp. 417-449.
\n11. Sentiment-based momentum strategy (with Byungoh Kim), International Review of Financial Analysis 58, 2018. pp. 52-68.
\n12. Sudden stops of capital flows to emerging markets: A new prediction approach, International Review of Economics and Finance 48, 2017. pp. 289-308.
\n13. A combination rule for portfolio selection with transaction costs, International Review of Finance 16, 2016. pp. 393-420.
\n14. Covered interest parity and arbitrage paradox in emerging markets: Evidence from the Korean market (with Young Ju Kim), Pacific-Basin Finance Journal 38, 2016. pp. 161-176.
\n15. Measuring sovereign risk contagion in the Eurozone, International Review of Economics and Finance 35, 2015. pp. 45-65.
\n16. Implied Pricing Kernels: An Alternative Approach for Option Valuation, (with Doojin Ryu and Jangkoo Kang) Journal of Futures Markets 35(2), 2015. pp. 127-147.
\n17. A New Method for Forming Asset Pricing Factors from Firm Characteristics, (with Wonho Song and Bong-Soo Lee) Applied Economics 46(28), 2014. pp. 3463-3482.
\n18. Measuring Systemic Risk: A Factor-Augmented Correlated Default Approach, Journal of Financial Intermediation 21, 2012. pp. 341-358.
\n19. Control of Luck in Measuring Investment Fund Performance, (with Kyttack Hong) Asia-Pacific Journal of Financial Studies 40(3), 2011. pp. 467-493.
\n20. Currency hedging failure in international equity investments and an efficient hedging strategy: The perspective of Korean investors, Pacific-Basin Finance Journal 19(4), 2011. pp. 390-403.
\n21. Risk management lessons from \u201cKnock-in knock-out\u201d options disaster, (with Jaeuk Khil) Asia-Pacific Journal of Financial Studies 39(1), 2010. pp. 28-52.
\n22. Pseudospectral Methods for Pricing Options, Quantitative Finance 9(6), 2009, pp. 705-715.
\n23. Foreign Bond Investment and the Yield Curve, Asia-Pacific Journal of Financial Studies 38(1), 2009, pp. 109-132.
\n24. A Class of Quadratic Options for Exchange Rate Stabilization, (with Fernando Zapatero) Journal of Economic Dynamics and Controls 32, 2008, pp. 3478-3501.<\/p>\n[\ud559\uc220\uc9c0 \uac8c\uc7ac \ub17c\ubb38 \u2013 \uad6d\ubb38(\uad6d\ub0b4\ud559\uc220\uc9c0)]\n1. \uc8fc\uac00\uc5f0\uacc4\uc99d\uad8c(ELS) \ubc1c\ud589 \uc81c\ub3c4 \uac1c\uc120\ubc29\uc548, \uae08\uc735\uac10\ub3c5\uc5f0\uad6c 11(2), 2024.10, 75-113.
\n2. \uac00\uacc4\ubd80\ucc44\uac00 \uc790\uc0b0\ubd88\ud3c9\ub4f1\uc5d0 \ubbf8\uce58\ub294 \uc601\ud5a5 (\uacf5\uc800\uc790: \uc774\ub3d9\uc5fd), \uae08\uc735\uc5f0\uad6c 37(4), 2023.12, 1-32.
\n3. Investor sentiment and shorted-stock return (with Yumi Park), Journal of Economic Development 48(4), 2023.12, 61-91. (SCOPUS)
\n4. \uc8fc\uc2dd\uc6cc\ub7f0\ud2b8\uc99d\uad8c \ud638\uac00 \uaddc\uc81c\uc640 \uc2dc\uc7a5\ud6a8\uc728\uc131 (\uacf5\uc800\uc790: \uc9c4\uc591\uaddc), \uae08\uc735\uacf5\ud559\uc5f0\uad6c 22(3), 2023.9, 49-79.
\n5. \ub0b4\ubd80\uc790\ubcf8\uc801\uc815\uc131 \uc911\uc2ec\uc758 \ud544\ub77c2 \uac1c\ud3b8 \ubc29\uc548 (\uacf5\uc800\uc790: \uae40\uc815\uc77c), \uae08\uc735\uac10\ub3c5\uc5f0\uad6c 9(1), 2022.4, 1-48.
\n6. \ud589\uc704\uc790\uae30\ubc18 \uc2dc\uc2a4\ud15c\ub9ac\uc2a4\ud06c \ubd84\uc11d\ubaa8\ud615, \uacbd\uc81c\ubd84\uc11d 28(1), 2022.3, 76-117.
\n7. A filtering strategy for improving characteristics-based portfolios, Journal of Economic Development 46(2), 2021.6, 119-153. (SCOPUS)
\n8. \ucf54\ub85c\ub09819\uac00 \uae08\uc735 \uc2dc\uc2a4\ud15c\ub9ac\uc2a4\ud06c\uc5d0 \ubbf8\uce5c \uc601\ud5a5, \uae08\uc735\uc548\uc815\uc5f0\uad6c 22(1), 2021.6, 3-38.
\n9. \uc554\ud638\ud654\ud3d0\uc640 \uc0ac\ud68c\ud6c4\uc0dd, \uc751\uc6a9\uacbd\uc81c 20(4), 2018.12, 97-125.
\n10. \uc2dc\uc2a4\ud15c\ub9ac\uc2a4\ud06c\uc758 \uce21\uc815\uacfc \uad00\ub9ac: \uc11c\ubca0\uc774\uc640 \uc81c\uc5b8, \uae08\uc735\uc548\uc815\uc5f0\uad6c 19(1), 2018.6, 131-163.
\n<\ubcc4\ub3c4 \ubd80\ub85d> \uc2dc\uc2a4\ud15c\ub9ac\uc2a4\ud06c\uc758 \uce21\uc815\uacfc \uad00\ub9ac: \uc11c\ubca0\uc774\uc640 \uc81c\uc5b8, \uae08\uc735\uc548\uc815\uc5f0\uad6c 19(1), 2018.6, 164-232.
\n11. Portfolio selection using new factors based on firm characteristics, Journal of Economic Development 43(1), 2018.3, 77-99. (SCOPUS)
\n12. \uc911\uc18c\uae30\uc5c5 \uad00\uacc4\uae08\uc735\uc758 \ud604\ud669\uacfc \uc131\uacfc, (\uacf5\uc800\uc790: \uc704\uacbd\ub85d) \uacbd\uc81c\ubd84\uc11d 23(2), 2017.6, 96-133.
\n13. \uac00\uacc4\ubd80\ucc44\uc758 \ubd80\uc2e4\uc704\ud5d8\uc131 \uc608\uce21 \ubc0f \ud3c9\uac00: \uac00\uad6c\uc790\ub8cc\ub97c \ud65c\uc6a9\ud55c \uc9c0\uc5ed\ubcc4 \ubd84\uc11d, (\uacf5\uc800\uc790: \uc624\uad8c\uc601) \uae08\uc735\uac10\ub3c5\uc5f0\uad6c 3(1), 2016.4, 75-101.
\n14. \uc218\uc775\ub960\uace1\uc120 \uc815\ubcf4\ub97c \ud65c\uc6a9\ud55c \uae30\ub300\uc218\uc775\ub960 \ucd94\uc815 \ubc0f \uae08\ub9ac\uc815\ucc45 \ud6a8\uacfc \ubd84\uc11d, (\uacf5\uc800\uc790: \ucd5c\uc7ac\ud6c8, \ubc15\ucda9\uc6d0) \uae08\uc735\uc5f0\uad6c 28(1), 2014.3, 27-64.
\n15. A simple method for measuring systemic risk using credit default swap data, (with Inwon Jang, Misun Ahn) Journal of Economic Development 38(4), 2013.12, 75-100.
\n16. \uc6b0\ub9ac\ub098\ub77c \uc740\ud589\ubd80\ubb38\uc758 \uc2dc\uc2a4\ud15c \ub9ac\uc2a4\ud06c \uce21\uc815, \uae08\uc735\uc5f0\uad6c 25(2), 2011.6, 57-81.
\n17. \uae08\uc735 \uc2dc\uc2a4\ud15c\ub9ac\uc2a4\ud06c\ub97c \uac10\uc548\ud55c \uae08\uc735\uae30\uad00 \uc790\uae30\uc790\ubcf8 \uaddc\uc81c\uc815\ucc45, \uae08\uc735\uc5f0\uad6c 24(1), 2010.3, 1-32.
\n18. \uac00\uacc4 \ubc0f \uc8fc\ud0dd\uc758 \uc774\uc9c8\uc131\uacfc \uc8fc\ud0dd\uac00\uaca9, \uacbd\uc81c\ud559\uc5f0\uad6c \uc81c55\uc9d1 \uc81c2\ud638, 2007.6, 123-146.
\n19. \ubc14\uc824\u2161 \ub3c4\uc785\uacfc \uc740\ud589\uc758 \ub300\ucd9c\ud589\ud0dc \ubd84\uc11d, \uae08\uc735\uc5f0\uad6c 20\uad8c2\ud638, 2006.12, 149-181.
\n20. \uad6d\ub0b4 \uc6d0\u2024\uc5d4\uac70\ub798 \ud65c\uc131\ud654\uc758 \uc6d0\ud654\ud658\uc728 \uc548\uc815\ud654 \ud6a8\uacfc, \uacbd\uc81c\ubd84\uc11d \uc81c 12\uad8c 3\ud638, 2006 pp. 79-115.
\n(The Stabilizing Effects of Active KRW-JPY Transactions on KRW Exchange Movements, Economic Papers 10(1), 2007, pp. 73-107.)
\n21. \uc678\uad6d\uc778 \uc8fc\uc2dd\ud22c\uc790\uac00 \uc8fc\uac00\uc591\uadf9\ud654\uc5d0 \ubbf8\uce5c \uc601\ud5a5 \ubc0f \uc2dc\uc0ac\uc810, \uacbd\uc81c\ubd84\uc11d, \uc81c12\uad8c 1\ud638, 2006 pp. 106-150.
\n(The Influence of Foreigners\u2019 Stock Investment on Korean Stock Prices and Its Implications, Economic Papers 9(2), 2006, pp. 123-162.)<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/p>","protected":false},"excerpt":{"rendered":"Professor<\/p>\n","protected":false},"author":2,"featured_media":2240,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"portfolio_category":[40],"portfolio_skills":[],"portfolio_tags":[],"class_list":["post-1449","avada_portfolio","type-avada_portfolio","status-publish","format-standard","has-post-thumbnail","hentry","portfolio_category-current-professor-en"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/econ.cau.ac.kr\/en\/wp-json\/wp\/v2\/avada_portfolio\/1449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/econ.cau.ac.kr\/en\/wp-json\/wp\/v2\/avada_portfolio"}],"about":[{"href":"https:\/\/econ.cau.ac.kr\/en\/wp-json\/wp\/v2\/types\/avada_portfolio"}],"author":[{"embeddable":true,"href":"https:\/\/econ.cau.ac.kr\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/econ.cau.ac.kr\/en\/wp-json\/wp\/v2\/comments?post=1449"}],"version-history":[{"count":3,"href":"https:\/\/econ.cau.ac.kr\/en\/wp-json\/wp\/v2\/avada_portfolio\/1449\/revisions"}],"predecessor-version":[{"id":2358,"href":"https:\/\/econ.cau.ac.kr\/en\/wp-json\/wp\/v2\/avada_portfolio\/1449\/revisions\/2358"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/econ.cau.ac.kr\/en\/wp-json\/wp\/v2\/media\/2240"}],"wp:attachment":[{"href":"https:\/\/econ.cau.ac.kr\/en\/wp-json\/wp\/v2\/media?parent=1449"}],"wp:term":[{"taxonomy":"portfolio_category","embeddable":true,"href":"https:\/\/econ.cau.ac.kr\/en\/wp-json\/wp\/v2\/portfolio_category?post=1449"},{"taxonomy":"portfolio_skills","embeddable":true,"href":"https:\/\/econ.cau.ac.kr\/en\/wp-json\/wp\/v2\/portfolio_skills?post=1449"},{"taxonomy":"portfolio_tags","embeddable":true,"href":"https:\/\/econ.cau.ac.kr\/en\/wp-json\/wp\/v2\/portfolio_tags?post=1449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}