Kim, Jin Gi; Lee, Hyun-Tak; Jang, Bong-Gyu - In: Journal of derivatives and quantitative studies 29 (2021) 2, pp. 116-133
This paper examines whether the successful bid rate of the OnBid public auction, published by Korea Asset Management … predicting three-month-ahead regime. We find that the OnBid auction rate conveys important information for detecting the … obligations. This finding suggests that corporate managers and investors could use the auction information to gauge the regime …