Jaewon Choi

Jaewon Choi

Associate Professor of Finance

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Contact

4035 Business Instructional Facility

515 Gregory Drive

Champaign, IL 61820

217-244-0840

jaewchoi@illinois.edu

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Educational Background

  • M.Phil., Finance, New York University, 2010
  • Ph.D., Finance, New York University, 2010
  • M.S.E., Operations Research & Financial Engineering, Princeton University, 2004

Positions Held

  • Associate Professor of Finance, Finance, University of Illinois, 2018 to present
  • Assistant Professor of Finance, Finance, University of Illinois, 2010-2018

Recent Publications

  • Choi, J. Forthcoming. On the Interest Rate Sensitivity of Corporate Securities. Review of Asset Pricing Studies.
  • Choi, J. Forthcoming. Sitting Bucks: Stale Pricing in Fixed Income Funds. Journal of Financial Economics.
  • Choi, J., Hackbarth, D., & , J. (2021). Granularity of Corporate Debt. Journal of Financial and Quantitative Analysis, 56 (4), 1127-1162.
  • Choi, J. (2021). Mutual Fund Flows and Fluctuations in Credit and Business Cycles. Journal of Financial Economics, 139 (1), 84-108.
  • Choi, J., Hoseinzade, S., Shin, S., & Tehranian, H. (2020). Corporate Bond Mutual Funds and Asset Fire Sales. Journal of Financial Economics, 138 (2), 432-457.
  • Choi, J., & Williams, J. (2019). Asymmetric Learning from Price and Post-Earnings Announcement Drift. Contemporary Accounting Research, 36 (3), 1724-1750.
  • Choi, J., Shachar, O., & Shin, S. (2019). Dealer Liquidity Provision and the Breakdown of the Law of One Price: Evidence from the CDS-Bond Basis. Management Science, 65 (9).

Other Publications

Articles

  • Choi, J., & Kim, Y. (2018). Anomalies and Market (Dis)Integration. Journal of Monetary Economics, 100 16-34.
  • Choi, J., Hackbarth, D., & Zechner, J. (2018). Corporate Debt Maturity Profiles. Journal of Financial Economics, 130 (3), 484-502.
  • Choi, J., & Kronlund, M. (2018). Reaching for Yield by Corporate Bond Mutual Funds. Review of Financial Studies, 31 (5), 1930-1965.
  • Choi, J., & Richardson, M. (2016). The Volatility of a Firm's Assets and the Leverage Effect. Journal of Financial Economics, 121 (2), 254-277.
  • Choi, J. (2013). What Drives the Value Premium?: The Role of Asset Risk and Financial Leverage. Review of Financial Studies, 26 (11), 2845-2875.
  • Choi, J. (2008). Credit Risk with Lagged Information. Journal of Derivatives, 16 (2), 85-93.

Presentations

  • Pearson, N., Choi, J., & Sandy, S. (2016). A First Glimpse into the Short Side of Hedge Funds. Luxembourg Asset Management Summit, Luxembourg School of Finance.
  • Choi, J. (2014). Conference presentation. FIRS Annual Meetings, Financial Intermediation Research Society.
  • Choi, J. (2014). Conference presentation. Swiss Winter Conference on Financial Intermediation.
  • Choi, J. (2014). Conference presentation. Western Finance Association Annual Meeting.
  • Choi, J. (2014). Invited talk. Hong Kong University Seminar.
  • Choi, J. (2014). Invited talk. Peking University Shenzhen Seminar, Peking University Shenzhen Graduate School.
  • Choi, J. (2014). Invited talk. Chinese University of Hong Kong Seminar.
  • Choi, J. (2013). Conference presentation. SFS Finance Cavalcade, Society for Financial Studies.
  • Choi, J. (2013). Conference presentation. Singapore International Conference on Finance.
  • Choi, J. (2013). Conference presentation. China International Conference in Finance.
  • Choi, J. (2013). Conference presentation. FIRS Annual Meetings, Financial Intermediation Research Society.
  • Choi, J. (2013). Invited talk. Korea Institute of Finance Seminar.
  • Choi, J. (2013). Invited talk. Stockholm School of Economics Seminar.
  • Choi, J. (2013). Invited talk. Tsinghua University Seminar.
  • Choi, J. (2013). Invited talk. Yonse University Seminar.
  • Choi, J. (2013). Presentation. Australasian Finance and Banking Conference.
  • Choi, J. (2013). Presentation. London Business School Summer Symposium.
  • Choi, J. (2013). Presentation. NBER Conference.
  • Choi, J. (2013). Presentation. Oxford Annual Asset Pricing Retreat.
  • Choi, J. (2012). Conference presentation. EFA Annual Meetings, European Finance Association.
  • Choi, J. (2012). Conference presentation. FRA Annual Meetings, Financial Research Association.
  • Choi, J. (2012). Invited talk. Korea Advanced Institute of Science and Technology (KAIST) Seminar.
  • Choi, J. (2012). Invited talk. Korea Institute of Finance Seminar.
  • Choi, J. (2012). Invited talk. Fordham University Seminar.
  • Choi, J. (2012). Invited talk. Lund University of Sweden Seminar.
  • Choi, J. (2012). Invited talk. Seoul National University seminar.
  • Choi, J. (2012). Invited talk. Copenhagen Business School Seminar.
  • Choi, J. (2012). Invited talk. Vienna University of Economics and Business Seminar.
  • Choi, J. (2012). Presentation. University of Chicago Booth Junior Faculty Symposium.
  • Choi, J. (2012). Presentation. China International Conference in Finance (CICF.
  • Choi, J. (2012). Presentation. Liquidity Risk Management Conference, Center for Finance Professionals.
  • Choi, J. (2011). Presentation. Singapore International Conference on Finance, National University of Singapore.
  • Choi, J. (2010). Conference presentation. American Finance Association Annual Meetings.
  • Choi, J. (2010). Invited talk. University of Illinois at Urbana-Champaign Seminar.
  • Choi, J. (2009). Conference presentation. Western Finance Association Annual Meeting.
  • Choi, J. (2009). Invited talk. Columbia University Finance Seminar.
  • Choi, J. (2009). Invited talk. INSEAD Seminar.
  • Choi, J. (2009). Invited talk. Korea Advanced Institute of Science and Technology (KAIST) Seminar.
  • Choi, J. (2009). Invited talk. Korea University Seminar.
  • Choi, J. (2009). Invited talk. Massachusetts Institute of Technology Seminar.
  • Choi, J. (2009). Invited talk. Penn State University Finance Seminar.
  • Choi, J. (2009). Invited talk. University of British Columbia Seminar.
  • Choi, J. (2009). Invited talk. University of Illinois Seminar.
  • Choi, J. (2009). Invited talk. University of Southern California Finance Seminar.
  • Choi, J. (2008). Presentation. AsiaFA Doctoral Student Symposium, New York University.
  • Choi, J. (2007). Presentation. Ph.D. Trans-Atlantic Conference, London Business School.

Working Papers

  • Pearson, N., Choi, J., Sandy, S., & Park, J. A First Glimpse into the Short Side of Hedge Funds.
  • Kronlund, M., Choi, J., & Oh, J. Sitting Bucks: Zero Returns in Fixed Income Funds.  link >
  • Choi, J., & Shachar, O. Did Liquidity Providers Become Liquidity Seekers?: Evidence from the CDS-Bond Basis during the 2008 Financial Crisis.

Current Courses

  • Investment & Portfolio Mngt (FIN 411) Current theories of portfolio management are covered in considerable detail to provide a conceptual framework for the evaluation of investment strategies. Applications and implementation are covered in depth, including performance evaluation and international diversification.

Contact

4035 Business Instructional Facility

515 Gregory Drive

Champaign, IL 61820

217-244-0840

jaewchoi@illinois.edu

Vita

Google Scholar

Website

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