Research

Publications

[3] Che, Yeon-Koo, Chongwoo Choe, and Keeyoung Rhee. 2024, "Bailout Stigma." Journal of Finance, 79(5): 2993-3039.

• • Online Appendix

  • The old version of this paper is available here at SSRN.

  • The 2024 Joon Y. Park Distinguished Paper Award

[2] Rhee, Keeyoung and Keshav Dogra. 2024. "Stress Tests and Model Monoculture." Journal of Financial Economics, 152, 103760.

[1] Rhee, Keeyoung. 2021. "Optimal Contracts under Moral Hazard and Costly Lying."   Korean Economic Review, 37(1): 115-140.

Working Papers

• • "State-Promoted Investment for Industrial Reforms: an Information Design Approach" (with Myungkyu Shim and Ji Zhang)

  • "What Doesn't Kill You Makes You Riskier: the Impacts of CBDC on Banking Stability" (with Kyoung Jin Choi)

  • "Financial Market Structure for ESG Integration" (with Dongkyu Chang and Aaron Yoon)

    • Reject and resubmit at the Journal of Accounting Research

    • The CLS Blue Sky Blog

    • Presented at the 13th Accounting Research Workshop, the 4th Summer Finance Roundtable, the 2nd Aarhus Workshop on Strategic Interaction in Corporate Finance, and the 7th GRASFI Annual Conference

    • Previously circulated with the title "Environmental, Social, and Governance (ESG) Integration under Asymmetric Information."

  • "Capital Structure and ESG Integration" (with Dongkyu Chang and Aaron Yoon)

    • Presented at the 2024 Wellington Finance Summit, the 5th Summer Finance Roundtable, 2024 Econometric Society Australasian Meeting, the 10th NTHU-UNSW-SMU Symposium on Sustainable Finance and Economics,  the 10th University of Southern Denmark (SDU) Finance Workshop, the 14th Accounting Research Workshop, the 2nd Annual Conference of the Accounting and Economics Society (AES 2025) (scheduled), 2025 Junior Accounting Theory Conference (scheduled), and 2025 World Congress of the Econometric Society (ESWC 2025)  (scheduled)

  • "(In-)Visible Risks of Blockchain-Based Financing for Capital Allocation Efficiency" (with Dongkyu Chang and Kyoung Jin Choi)

Work in Progress

• • Competition between Open-Banking Firms and Traditional Banks (with Michael Junho Lee)

  • Strategic Blockchain Adoption in Supply Chains (with Sang Won Kim and Jongsub Lee) 

KDI Reports (in Korean)

• • 국내 금융회사 그룹 리스크 평가와 관련 제도 개선 방향 (KDI 정책연구시리즈 2016-10)

  • 한국 금융감독체계에 대한 정치경제학적 연구 (KDI 연구보고서 2017-09)

  • 보험업 시스템 리스크 가능성 및 부실 보험회사 정리제도 연구 (KDI 연구보고서 2018-05)

  • 국민연금 연기금의 대체투자 위탁운용 성과평가체계 연구 (KDI 정책연구시리즈 2019-11)

  • 기업 자금조달 비용에 영향을 미치는 비재무적 요인 및 국내 금융시장 내 시장규율 분석: 기업규모와 신용평가 간 상관관계를 중심으로 (KDI 정책연구시리즈 2020-08)

  • 부실 보험회사 정리회생제도의 합리적 개선방향 (KDI 연구보고서 2021-03)

  • 그룹 리스크 반영을 위한 금융회사 자기자본 규제 개선 방향 (KDI 정책포럼 제266호)

  • 금융당국 출신 인사의 금융회사 재취업에 따른 경제적 효과 (KDI FOCUS 제94호)