The Korean insurance industry has rapidly grown over the past decade, and at the same time the asset size of Korean insurance companies increases very fast. So the effective and scientific asset management becomes very essential for these companies to stay profitable. Korean insurance companies...

The human resources (HR) function has evolved significantly over the past several decades. It has grown in maturity and influence while simultaneously enduring great criticism from employees and managers. Meanwhile, environmental pressures have forced business leaders and academics to call for...

This thesis consists of three essays on various topics in empirical financial studies. In Chapter 1, I study the profitability of momentum trading from evidence in mutual fund performance. I find that mutual funds that exhibit a strong momentum trading pattern earn significant risk-adjusted...

In August 2005, Patagonia announced its Common Threads Garment Recycling Program. The company is reclaiming used Capilene long underwear from consumers and using them as an input for new Capilene garments. According to company assessments, making clothes from post-consumer fabrics is more energy...

The concept of this thesis emerged from my own experience of mergers and acquisitions in which I had been involved over the past 20 years. Companies make acquisitions, mergers, or joint ventures for technology or geographical reasons, or to consolidate a market. The companies have to find a way...

This thesis consists of three chapters exploring predictability of stock returns. In the first chapter, I suggest a new approach to analysis of stock return predictability. Instead of relying on predictive regressions, I employ a state space framework. Acknowledging that expected returns and...

The ability to innovate sits at the heart of an organization's ability to succeed in a competitive environment. An organization can innovate by improving existing products, services, or processes or by generating new products, services, or processes. Achieving successful, repeated organizational...

I propose the creation of a real-time compliance "bot" - software to momentarily pause each employee's email at the moment of sending and to electronically assess whether that email is likely to create liability or unanticipated expense for the corporation. My thesis describes the confluence of...

Wide-spread usage of peer-to-peer file-sharing began in the late 1990's with Napster-a network that allowed users to share digital music without going through legal channels to purchase the copyrighted material. Since Napster debuted, over forty file-sharing applications that allow users to...

I analyze the intertemporal portfolio problem of an investor who has access to both taxable and tax-deferred (retirement) accounts. In a complete-market setting, through a tax-arbitrage argument, I show that tax-deferred accounts have only a wealth effect on overall portfolio decisions through...