Earticle

초록

영어

This paper presents a comprehensive review of the behavioral finance literature on Korean financial markets, published recently in Korean academic journals. Our survey of behavioral finance in Korea is the follow-up work of Kim and Byun (2011). As part of the 2010 knowledge database project by the Korean Finance Association, we have previously reviewed behavioral studies in Korea. Compared to the environment at the time of the previous survey, most academic journals eagerly accept research articles from behavioral finance perspectives. Behavioral corporate finance has produced several studies on investor sentiment and managerial overconfidence. However, finding research on experimental tests or survey analyses from Korean finance journals remains challenging. This area requires interdisciplinary work with psychology researchers. Moreover, research methodologies using AI or machine learning could be more frequently used in future studies.

목차

Abstract
Ⅰ. Introduction
Ⅱ. Behaviors of Investors in Korean Markets
1. Prospect Theory
2. Disposition Effect
3. Price Momentum
4. Overconfidence, Overreaction, and Bubbles
5. Investor Sentiment
6. Behavioral Bias or Trading
Ⅲ. Behavioral Corporate Finance: Empirical Evidence
1. Managerial Overconfidence
2. Capital Budgeting and Sensitivity of Investment to Cash Flow
3. Payout Policy
4. Capital Structure and IPO
5. Mergers and Acquisitions
Ⅳ. Conclusion
References

키워드

저자

• Byun, Jinho [ Ewha Womans University ] Corresponding Author
• Kim, Keunsoo [ Kyung Hee University ]
• Park, Kyung Hee [ Hannam University ]

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  재무연구 [Asian Review of Financial Research]

• 간기

  계간

• pISSN

  1229-0351

• eISSN

  2713-6531

• 수록기간

  1988~2026

• 등재여부

  KCI 등재,SCOPUS

• 십진분류

  KDC 325 DDC 330