Finance professor honored for research | News | Notre Dame News | University of Notre Dame






	
	





  	Skip To Content
	Skip To Navigation
	Skip To Search






  
  
    University of Notre Dame

    
      
      Notre Dame News

      
      
    


    
    
      
        
        
        	
	Experts
	ND in the News
	Subscribe
	About Us
	


      
        
          
          
          
          
          
        

      


      
    


    
    
      	 Home
	 Contact
	 Search
	
          
          
            
            
          
          Menu
        
        


      
        
          
          
          
          
          
        

      

    

  

  
  

  

  
    	Home › 
	News › 
	Finance professor honored for research


    
      
        
          Finance professor honored for research

          
            
              
                
                Published: July 24, 2008
              

              
                Author: Carol Elliott
              

              







          

          
          
          

          
        
        
        
          

Hayong Yun, assistant professor of finance at the University of Notre Dame, received the 2008 Young Researcher Prize awarded by the Review of Financial Studies, a top-tier research journal.

The annual prize, sponsored by the financial services company JPMorgan, recognizes the best research by a recent doctoral graduate accepted for publication in the review. Yun was presented the award in June during the annual conference of the Western Finance Association.

Yun was recognized for his study,The Choice of Corporate Liquidity and Corporate Governance,which will appear in the review in 2009-10. The study examines the relationship between corporate governance and a companys use of cash and lines of credit to meet liquidity needs.

He found that firms increase cash relative to lines of credit when the threat of takeover weakens.Further, this shift toward cash occurs mostly in companies with weak internal governance – those without independent boards and activist shareholders – while well-governed companies are less likely to do so. The findings suggest that companies take into account managerial discretion and opportunism associated with cash when choosing the composition of their liquidity reserves, and that the choice of corporate liquidity – cash or credit – is a channel through which corporate governance works.

A graduate of Seoul National University, Yun earned a doctoral degree in mechanical engineering from the Massachusetts Institute of Technology, as well as a doctorate in finance from Columbia University. His expertise is in corporate governance, law and economics, bankruptcy and contract theory.

_ Contact: Hayong Yun, 574- 631-9322 or_  " hyun@nd.edu ":mailto:hyun@nd.edu

TopicID: 28826

        

        
        
          
            

          

        
      
      
    
  
  
    	Home
	Experts
	ND in the News
	Subscribe
	About Us


  

  
  
    
     
  
  

  
  
    
      	For the Media
	Contact


    
            
    
      
	Office of Public Affairs and Communications


      Notre Dame News

      
        
          
            500 Grace Hall
 
            Notre Dame, IN 46556 USA
          
          
          
          
        

        
          	 Facebook
	 Twitter
	 Instagram
	 YouTube
	 Pinterest


        
      

      
© 2022 University of Notre Dame

    
    
      

        
      
      
        
          	Search
	Mobile App
	News
	Events
	Visit
	Accessibility


        
        
          	 Facebook
	 Twitter
	 Instagram
	 YouTube
	 LinkedIn