Sohn, Wook; Choi, Bobae - In: Global Economic Review 39 (2010) 1, pp. 83-90
We examine the movement of Korean stock prices before and after the 1997 financial crisis. Unlike in Japan, as documented by Hamao et al. (Journal of Money, Credit and Banking, 39, pp. 901-923, 2007), we find an increase in firm-level volatility in Korea, which may make it easier for investors...