Dr. Sung Bae, Ph.D.

Dr. Sung C. Bae is the Chairperson and Fred E. Scholl Endowed Chair Professor in the Department of Finance. He held Ashel G. Bryan/Huntington Bank Professorship from 2008-2014 and 2000-2005. His research covers a broad spectrum of corporate finance and international finance. He has published more than 60 refereed articles in mainstream finance journals and over 25 articles in other periodicals. He was listed in the "Top 3% of Most Prolific Authors in 26 Core Finance Journals" out of more than 17,600 authors in a 2009 study by Heck and Cooley. He is a recipient of 14 best paper awards from professional organizations and a five-time recipient of BGSU’s Robert A. Patton Scholastic Achievement Award. He has also received many grants including APEC Finance & Development Program Grant, Korea Research Foundation Joint Research Grant, US Department of Education BIE Grant, and Ohio Board of Regents Research Challenge Grant. As a member of several professional organizations, he is a past president of the Korea America Finance Association (KAFA) and currently serves on the editorial board of eight academic journals. He has also participated in executive education programs for many U.S. and foreign institutions.

Education & Experience

EDUCATION

Ph.D., Finance, University of Florida, 1987
Dissertation title: Essays on New Equity Issues & Investment Banking Contracts

M.B.A., Finance, Michigan State University, 1983

B.S.B.A., Business, Korea University, 1980

EXPERIENCE

Department Chair Bowling Green State University 8/10 – present

Fred E. Scholl Endowed Chair in Finance and Insurance BGSU 2/21 - present

Director of Financial Planning Program Bowling Green State University 8/07 – present

Professor Bowling Green State University 5/98 – present

Ashel G. Bryan/Huntington Bank Professor Bowling Green State University 8/08 – 08/14

Visiting Professor of Finance Pusan National University 12/10 – 1/11

Visiting Professor of Finance Korea University Business School 2/06 – 8/06

Ashel G. Bryan/Mid American Bank Professor Bowling Green State University 6/00 – 8/05

Department Chair Bowling Green State University 6/96 – 8/03

Director of Business International Education Project BGSU 8/02 – 8/03

Visiting Research Fellow Korea Securities Research Institute, Korea 1/96 – 6/96

Visiting Associate Professor Seoul Women's University, Korea 3/96 – 6/96

Associate Professor Bowling Green State University 4/93 – 4/98

Assistant Professor Bowling Green State University 8/87 – 3/93

Research Assistant University of Florida 8/84 – 8/87

Teaching Assistant University of Florida 8/83 – 7/84

Export-Import Clerk Citibank, N.A./Seoul, Korea 8/80 – 8/81

Areas of Expertise

Corporate finance
International finance
Exchange risk management with hedging
Foreign currency debt financing
Related party transactions
Corporate social responsibility

Research

Research Journal Publications (2011-Present)

Bae, Sung C., Taek Ho Kwon, "Exchange Rate Risk Management using Currency Derivatives: The Case of Exposures to Japanese Yen." Asia-Pacific Financial Markets 30, 2023, 621-647.
Kwon, Taek Ho, Sung C. Bae, Soon Hong Park, "The Interactions of Corporate Sales Growth and Diversification Strategy: Cross-Country Evidence." Journal of International Financial Markets, Institutions, and Money 75 (November 2021), 101422.
Bae, Sung C., Taek Ho Kwon, "Do Firms Benefit from Related Party Transactions with Foreign Affiliates? Evidence from Korea." International Review of Finance 21 (September 2021), Issue 3, 945-965.
Bae, Sung C., Taek Ho Kwon, "Hedging Operating and Financing Risk with Financial Derivatives during the Global Financial Crisis" Journal of Futures Markets, 41 (March 2021), Issue 3, 384-405.
Bae, Sung C., Hyeon Sook Kim, Taek Ho Kwon, "Foreign Currency Borrowing Surrounding the Global Financial Crisis: Evidence from Korea." Journal of Business Finance and Accounting 47 (May 2020), Issue 6, 786-817.
Bae, Sung C., Kiyoung Chang, Ha-Chin Yi, "Are More Corporate Social Investments Better? Evidence of Non-Linearity Effect on Costs of U.S. Bank Loans." Global Finance Journal 38 (November 2018), 82-96.
Bae, Sung C., Hyeon Sook Kim, Taek Ho Kwon, "Currency Derivatives for Hedging: New Evidence on Determinants, Firm Risk, and Performance." Journal of Futures Markets 38 (2018), Issue 4, 446-467.
Bae, Sung C., Kiyoung Chang, Ha-Chin Yi, "Corporate Social Responsibility, Credit Rating, and Private Debt Contracting: New Evidence from Syndicated Loan Market." Review of Quantitative Finance and Accounting 50 (2018), Issue 1, 261-299.
Kwon, Taek Ho, Sung C. Bae, Soonhong Park, "Sales Growth and Global Diversification Effects." Korean Journal of Financial Studies 47 (2018), 97-129.
Pae, Yuntaek, Sung C. Bae, Namhoon Lee, "Idiosyncratic Volatility and Cash Flow Volatility: New Evidence from S&P 500." International Review of Financial Analysis 56 (March 2018), 127-135.
Bae, Sung C., Taek Ho Kwon, Rae Soo Park, "Managing Exchange Rate Exposure with Hedging Activities: New Approach and Evidence." International Review of Economics and Finance, 53 (January 2018), 133-150.
Bae, Sung C., Hyeon Sook Kim, Taek Ho Kwon, "The Determinants of Foreign Currency Debt Financing: Borrower Incentives or Lender Incentives?" Asia-Pacific Journal of Financial Studies 46 (2017), 824-852.
Bae, Sung C., Kiyoung Chang, Ha-Chin Yi, "The Impact of Corporate Social Responsibility Activities on Corporate Financing: A Case of Bank Loan Covenants." Applied Economics Letters 23 (2016), Issue 17, 1234-1237.
Bae, Sung C., Hyeon Sook Kim, Taek Ho Kwon, "Foreign Currency Debt Financing, Firm Value, and Risk: Evidence from Korea Surrounding Global Financial Crisis." Asia-Pacific Journal of Financial Studies 45 (2016), Issue 1, 124-152.
Bae, Sung C., Taek Ho Kwon, "Managing Asymmetric Foreign Exchange Exposure with Financial Derivatives: Evidence from Korean Firms." International Journal of Bonds and Derivatives 1 (2015), No. 3, 217-236.
Bae, Sung C., Byung-Uk Chong, and Yura Kim, "Informational Frictions, Syndicate Structure, and Loan Pricing: New Evidence from International Syndicated Lending." Asia-Pacific Journal of Financial Studies 43 (2014), 124-155.
Bae, Sung C., Kiyoung Chang, Hoje Jo, "Long-Run Stock Return and Operating Performance of Underwriter Warrants: Evidence from Seasoned Equity Offerings." International Review of Finance 13 (December 2013), Issue 4, 473-501.
Bae, Sung C., Kiyoung Chang, and Doseung Kim, "Determinants of Target Selection and Acquirer Returns: Evidence from Cross-Border Acquisitions." International Review of Economics and Finance 27 (2013), 552-565.
Bae, Sung C., Taek Ho Kwon, "Asymmetric Foreign Exchange Exposure, Option Trade, and Foreign Currency Denominated Debt: Evidence from Korea." Asia-Pacific Journal of Financial Studies 42 (2013), 314-339.
Bae, Sung C., Kiyoung Chang, Eun Kang, "Culture, Corporate Governance, and Dividend Policy: International Evidence." Journal of Financial Research 35 (Summer 2012), No. 2, 289-316.
Bae, Sung C., Kyungwon Ju, Kyoo H. Kim, Taek Ho Kwon, "Equity Ownership Determination of Foreign Direct Investments of Developing Economies: The Case of Korean Outward FDIs." Review of Pacific Basin Financial Markets and Policies 15 (March 2012), Number 1, 1250003:1-32.
Taek Ho Kwon, Rae Soo Park, Sung C. Bae, "On the Effectiveness of Foreign Exchange Rate Exposure Hedging with Derivatives for Korean Industrial Companies." Korean Journal of Financial Studies 40 (2011), No. 5, 829-861.
Bae, Sung C., Taek Ho Kwon, Jang Woo Lee, "Does Corporate Diversification by Business Groups Create Value? Evidence from Korean Chaebols." Pacific-Basin Finance Journal 19 (2011), 535-553.
Bae, Sung C., Jae Hoon Min, Sunbong Jung, "Trading Behavior and Performance of Foreigners, Local Institutions, and Individual Investors: Evidence from the Korean Stock Market." Asia-Pacific Journal of Financial Studies 40 (2011), No. 2, 199-239.
Bae, Sung C., Mingsheng Li, Jing Shi, "Heterogeneous Investor's Reaction to Exchange Rate Movement: New Evidence from a Unique Emerging Market." Emerging Market Finance and Trade 47 (2011), Supplement 1. 7 - 22.

Updated: 08/29/2023 09:53AM