Journal of Derivatives and Quantitative Studies: 선물연구: Volume 30 Issue 3 , Open Access

Stock lending and short-selling: evidence from national pension service in Korea

Kuan-Hui Lee, Shu-Feng Wang

The National Pension Service (NPS) of Korea suddenly announced that they would suspend their stock lending business from October 22, 2018. Using this ideal setting, the authors…

Market impact cost asymmetry of the National Pension Service and its determinant analysis

Yunsung Eom, Mincheol Woo

As of March 2021, the National Pension Service (NPS) is the world’s 3rd largest pension fund with 872.5tn won (KRW) in management. Recently, the NPS proposed a policy to gradually…

A VECM analysis of Bitcoin price using time-varying cointegration approach

Yong Lee, Joon Hee Rhee

This study proposed an optimal model to examine the relationship between the Bitcoin price and six macroeconomic variables – the Bitcoin price, Standard and Poor's 500 volatility…

Foreign investment horizons, corporate governance and payout policy

Eun Jung Lee, Sungmin Kim, Yongwon Jang

This paper examines whether long-term foreign investors may force firms to use a costly dividend to mitigate inefficient managerial behavior. The authors also hypothesize that the…