Education 

2018. Ph.D in Economics, 성균관대학교 경제대학, 재무금융전공

2012. M.A. in Finance, 성균관대학교 경영대학, 재무전공

2009. B.A in Statistics, 성신여자대학교 통계학과 (경제학과 복수전공) 

Research Interest 

Market Microstructure, Financial Derivatives, Corporate Finance, Investor sentiment, 4th Industry Revolution (Fintech, Blockchain), Big data and Financial data modeling  

Teaching 

경제원론 (Principles of Economics), 경제통계론 (Statistics for Economics), 화폐금융론 (Money and Banking), 국제금융론 (International Finance), 국제금융시장론 (International Financial Markets), 계량경제학 (Econometrics), 재무관리 (Financial Management) 

Publications

40) Ryu, D., Ryu, D., Yang, H. (2023). Investor sentiment and futures market mispricing. Finance Research Letters (SSCI), 58:Part C (Dec.), 104559, Corresponding Author.

39) Ryu, D., Ryu, D., Yang, H. (2023). Whose sentiment explains implied volatility change and smile?. Finance Research Letters (SSCI), 55:Part A (Jul.), 103838, Corresponding Author.

38) Yang, H., Ryu, D. (2022). The information content of bond rating changes and insider trading in Korea. Investment Analysts Journal (SSCI), 51(4), (Dec.) 289-300. First Author.

37) Ryu, D., Webb, R.I., Yang, H., Yu, J. (2022). Investors' net buying pressure and implied volatility dynamics. Borsa Istanbul Review (SSCI), 22(4) (July), 627-640, Corresponding Author.

36) Ryu, D., Yang, H., Yu, J. (2022). Insider trading and information asymmetry: Evidence from the Korea Exchange. Emerging Markets Review (SSCI), 51:Part A (Jun.), 100847.

35) Ryu, D., Yang, H. (2022). Intraday option price changes and net buying pressure. Applied Economics Letters (SSCI), 29(4), (Feb.) 292-297. Corresponding Author.

34) Yang, H. (2021). Investor sentiment and market dynamics: Evidence from index futures markets. Investment Analysts Journal(SSCI), 50(4), (October), 258-272.

33) Kim, K., Ryu, D., Yang, H. (2021). Information uncertainty, investor sentiment, and analyst reports. International Review of Financial Analysis (SSCI), 77 (Oct.), 101835.

32) Lee, J., Ryu, D., Yang, H. (2021). Does vega-neutral options trading contain information? Journal of Empirical Finance (SSCI), 62 (Jun.), 294-314.

31) Yang, H., Ryu, D. (2021). Investor Sentiment and Price Discrepancies between Common and Preferred Stocks in Korea. Sustainability (May), 13(10), 5539. First Author.

30) Ryu, D., Ryu, D., Yang, H. (2021). The impact of net buying pressure on index options prices. Journal of Futures Markets (SSCI), 41:1 (January), 27-45. Corresponding Author.

29) 2020. 애널리스트 투자의견 변경이 금융시장과 투자자 심리에 미치는 영향. 경제학연구, 68:3, 45-81.

28) Ryu, D., Ryu, D., Yang, H. (2020). Investor sentiment, market competition, and financial crisis: Evidence from the Korean stock market. Emerging Markets Finance and Trade (SSCI), 56:8 (July), 1804-1816.

27) Ryu, D., Yang, H. (2020). Noise traders, mispricing, and price adjustments in derivatives markets. European Journal of Finance (SSCI), 26:6 (April), 480-499.Corresponding Author.

26) Ryu, D., Ryu, D., Yang, H. (2020). Vega-informed trading and options market reform. Applied Economics Letters (SSCI), 27:1 (January), 19-24, Corresponding Author.

25) Yang, H., Kutan, A.M., Ryu, D. (2019). Volatility information trading in the index options market: An intraday analysis. International Review of Economics and Finance (SSCI), 64 (November), 412-426, First Author.

24) Ryu, D., Yang, H. (2019). Who has volatility information in the index options market? Finance Research Letters (SSCI), 30 (September), 266-270, Corresponding Author.

23) Kim, K., Ryu, D., Yang, H. (2019). Investor sentiment, stock returns, and analyst recommendation changes: The KOSPI stock market. Investment Analysts Journal (SSCI), 48:2 (April), 89-101.

22) 2019. 신용등급 변경공시가 투자자 심리에 미치는 영향. 선물연구, 27:1, 85-111.

21) 2018. 글로벌 금융위기가 시장경쟁과 자본구조의 관계에 미치는 영향. 금융지식연구, 16(3), 3-25.

20) Ryu, D., Yang, H. (2018). The directional information content of options volumes. Journal of Futures Markets (SSCI), 38:12 (December), 1533-1548, Corresponding Author.

19) Yang, H., Ryu, D., Ryu, D. (2018). Market reform and efficiency: The case of KOSPI200 options. Emerging Markets Finance and Trade (SSCI), 54:12 (October), 2687-2697, First Author.

18) 2018. 투자심리지수의 대용변수와 유용성: 개별기업 주식수익률에 미치는 영향을 바탕으로, 경영학연구, 47:5, 1231-1260.

17) Yang, H., Lee, J., Ryu, D. (2018). Market depth, domestic investors and price monotonicity violations. Applied Economics Letters (SSCI), 25:10 (Mar), 688-692, First Author.

16) Choi, H.-S., Ryu, D., Yang, H. (2018). International transmission of risk factor movements: The case of developed markets. Investment Analysts Journal (SSCI), 47:2 (June), 111-126.

15) Yang, H., Kutan, A.M., Ryu, D. (2018). Option moneyness and price disagreements. Applied Economics Letters (SSCI), 25:3 (February), 192-196, First Author.

14) 2018. 개별기업의 특성을 반영한 투자자 심리지수와 주식수익률, 재무연구, 31:1, 1-38.

13) 2018. 금융시장 로보어드바이저 산업에 대한 고찰: 현황과 개선방안, 경영학연구, 47:3, 725-749.

12) 2017. 4차 산업혁명과 인공지능: 현황, 사례, 규제에 대한 개괄적 고찰, 한국경영과학회지, 42:4, 1-14.

11) Yang, H., Ahn, H.-J., Kim, M.H., Ryu, D. (2017) Information asymmetry and investor trading behavior around bond rating change announcements. Emerging Markets Review (SSCI), 32 (September), 38-51, First Author.

10) 2017. 주식분할과 무상증자: 결정요인과 공시효과에 대한 실증분석, 한국증권학회지, 46:4, 879-900.

9) Ryu, D., Kim, H., Yang, H. (2017). Investor sentiment, trading behavior and stock returns. Applied Economics Letters (SSCI), 24:12 (July), 826-830, First Author.

8) Yang, H., Ryu, D., Ryu, D. (2017). Investor sentiment, asset returns and firm characteristics: Evidence from the Korean Stock Market. Investment Analysts Journal (SSCI), 46:2 (June), 132-147, First Author.

7) Yang, H., Choi, H.-S., Ryu, D. (2017). Option market characteristics and price monotonicity violations. Journal of Futures Markets (SSCI), 37:5 (May), 473-49, First Author.

6) Ryu, D., Yang, H. (2017). Price disagreements and adjustments in index derivatives markets. Economics Letters (SSCI) (February), 151, 104-106, Corresponding Author.

5) Sim, M., Ryu, D., Yang, H. (2016). Tests on the monotonicity properties of KOSPI 200 options prices. Journal of Futures Markets (SSCI), 36:7, 625-646.

4) 2016. 자본시장의 위상전이행태에 관한 학제간 융합연구: 사례연구, 경영과학, 33:2, 117-131.

3) 2016. 핀테크 산업의 발전방향에 관한 연구, 한국증권학회지, 45:1, 145-170.

2) 2015. 신용평가사의 역할에 대한 고찰: 사건연구를 통한 분석, 한국경영과학회지, 40:4, 123-144.

1) 2013. 시장경쟁은 회사채 신용등급 변경공시에 따른 주식가격반응에 어떠한 영향을 주는가? 경영학연구, 42:4, 929-957.