English Abstract: This paper tests the informational efficiency of capital market by investigating the effect of credit … rating on firm valuation. In particular, this paper estimates the effect of the credit rating on stock return and volatility … by employing cross-sectional regressions across listed firms in stock exchanges, some of which possess credit rating …

English Abstract: Credit rating provides information predicting firm's future cash flows and risk under uncertainty and … hence represents its intrinsic value. Credit rating plays a role as certifier of credit risk of borrowing firm in financial … credit rating on volatility of debt financing and provides evidence that credit rating reduces the volatility of those while …

English Abstract: This paper analyses changes in bank behavior in response to regulations on bank capital ratio …, liquidity ratio, and leverage ratio. For the analysis, this paper sets up a theoretical model in which a bank optimizes its … using Korea commercial-bank panel data from 2004.1q-2014.2q.It is found that a decrease in the policy rate or in the house …

in the safety net and the integrated risk management over bank and insurance industry. First, the safety net institutions … regulatory regimes over bank and insurance industry may induce the regulatory capital arbitrage chances, and lead to the risk …

English Abstract: This paper examines how global expansion affects the performance of bank headquarters and foreign … years. This move is largely in response to fierce competition between domestic banks. There is, however, a growing concern …

emerging economies in controlling systemic risks. FX-related liquidity risks remain the main driver of credit and market risks … and draws implications for effective macroprudential supervision. Unlike the strains of typical portfolio credit risk …-contingent interactions with financial-macro factors. We employ a two-pronged approach based on portfolio credit risk and factor models to …

countercyclical capital buffers in Korea. The statistical evidence presented in the paper indicates that the credit-to-GDP gap … the central bank …