In this paper a new wavelet shrinkage technique is proposed and investigated. When data consist of a multiplicity of related noisy signals, we propose a wavelet-based shrinkage estimation procedure to summarize all data components into a single regularized and representative signal...

We examine how ex ante financial distress risk affects CEO compensation. In order to disentangle the joint effects of performance on compensation and distress risk, we focus our analyses on new CEOs. Our results indicate financial distress risk affects compensation through two channels. First,...

We examine whether the relationship between market volatility and network properties in the low-frequency level can be applied to the high-frequency level. For the analysis, we use the minimum spanning tree (MST) method constructed from intraday Korean stock market data. The results show that...

We examined the time series properties of the foreign exchange market for 1990–2008 in relation to the history of the currency crises using the minimum spanning tree (MST) approach and made several meaningful observations about the MST of currencies. First, around currency crises, the mean...

Samsung Card Lending Model (SCLM) analyzes cash flow in individual accounts and measures the level of company-wide risk. Serving as a risk and portfolio management model in the consumer lending business, the main features of SCLM are as follows. Default ratios such as intrinsic balance default...