Hey, I’m Byoung. I study and teach finance at NTU - Singapore. Thanks for visiting my website.
Highlighted research
Review of Financial Studies · 2025
Why do Investors Like Short-Leg Securities? Evidence from a Textual Analysis of Buy Recommendations
Our paper advocates for text-based methods as a complementary tool to investor surveys for extracting investor perceptions. Our paper also provides a possible (partial) reason what causes the seeming overpricing (and low subsequent returns) of short-leg securities.
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Working Paper · 2026
Adaptive Heuristics in Stock Selection
We interview investors to learn directly how they choose stocks, document the rules they use, and evaluate their historical effectiveness; our analysis suggests that investors use rules that are well suited to their priorities and local market conditions.
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