Professor Inmoo Lee has spent more than 20 years in academia teaching and performing financial research at universities in the US, Korea, and Singapore. Currently, he is a professor of finance at the Korea Advanced Institute of Science and Technology. Professor Lee has published many papers in academic journals including Journal of Finance, Review of Financial Studies and Journal of Financial and Quantitative Analysis, and participated in various consulting projects. He also worked for an US asset management company, Dimensional Fund Advisors, for three years. He holds PhD and MS degrees in finance from the University of Illinois, Urbana-Champaign, and a bachelor's degree from Korea University. Inmoo2019Aug1.pdf

Education

Ph.D. Finance , University of Illinois at Urbana-Champaign , Champaign,IL (1/91- 12/94; received both an M. S. and a Ph. D. in May 1995)
M. S. Finance , University of Illinois at Urbana-Champaign , Champaign,IL (8/89-12/90)
B.B.A, Korea University , Seoul, Korea (3/84-2/88)

Career

Professor, Graduate School of Finance & Accounting, Business School, KAIST (Korea Advanced Institute of Science and Technology) (tenured: 9/2010 - present)
Head, School of Management Engineering, KAIST (5/16 - present)
Visiting Professor, McCobms School of Business, University of Texas at Austin (9/2014-5/2015)
Dean, Graduate School of Finance & Accounting, Business School, KAIST (9/2011 - 8/2012)
KAIST Chair Professor, KAIST (5/2011 - 4/2014)
Vice President, Research, Dimensional Fund Advisors (6/2007 - 8/2010)
Associate Professor, Department of Finance and Accounting, Business School, National University of Singapore (tenured: 7/2005 - 9/2009: unpaid leave from 7/2007 - 6/2009)
Visiting Associate Professor, Department of Finance and Accounting, Business School, National University of Singapore (7/2004 - 6/2005)
Associate Professor, College of Business Administration , Korea University (9/2001 - 5/2006: unpaid leave from 9/2004 till 5/2006)
Assistant Professor, College of Business Administration , Korea University (9/2000 - 8/2001)
Assistant Professor, Graduate School of Management , Korea Advanced Institute of Science and Technology (8/1998 - 8/2000)
Assistant Professor, Weatherhead School of Mangement, Case Western Reserve University (7/97 - 7/98)
Visiting Assistant Professor, Department of Finance , University of Illinois (1/95 - 5/97)
Loan officer, Korea Development Leasing Corporation, Seoul, Korea (3/88-6/88)

Industry Advisory Activities

Part-Time Consultant, Dimensional Fund Advisors
Current Member of the Following Committees, Risk Management Committee at the Korea Foundation; Risk Management Committee at the Korea Asset Management Corporation (KAMCO); Index Committee at Zeroin
Involved Consulting Projects, Development of KOSDAQ 50 Index for the KOSDAQ Exchange; Development of KODI Index for the Korea Stock Exchange; Development of Seoul Equity Index 150 for the FnGuide; Regulatory Changes in the Korean IPO Process; Privatization of Korea Telecom (KT); Corporate Governance Analysis for POSCO; Evaluation of the Performance of Government Funds including Korea National Pension Fund
Former Member of the Following Committees, KOSDAQ 50 Index Committee; Korea Stock Exchange’s Committee for the Development of Futures and Options Markets; Working and Evaluation Committee at the Korea National Pension Fund Operation; Risk Management Committee at the Korea Government Employee Pension Fund; Underwriters and Advisers Selection Committee for Korea Telecom (KT)

Publications (patents, etc.)

""Do Firms Knowingly Sell Overvalued Equity" , Journal of Finance (September 1997)
"Are Insider's Trades Informative?" (joint with Josef Lakonishok), (National Bureau of Economic Research Working Paper #6656), Review of Financial Studies (Spring 2001)
"Economic Sources of Gain in Stock Repurchases" (joint with Konan Chan and David Ikenberry), Journal of Financial and Quantitative Analysis, (September 2004)
"Business Groups and Tunneling: Evidence from Private Securities Offerings by Korean Chaebols" (joint with Jae-Seung Baek and Jun-Koo Kang), Journal of Finance (October 2006)
"Option Market Activity" (joint with Josef Lakonishok, Neil Pearson and Allen Poteshman), Review of Financial Studies (May 2007)
"Do Managers Time the Market? Evidence from Open-Market Share Repurchases" (joint with Konan Chan and David Ikenberry), Journal of Banking and Finance (September 2007)
"Do Privatization IPO Firms Outperform in the Long-Run?" (joint with Seung-Doo Choi and William Megginson), Financial Management (Spring, 2010)
"Share Repurchases as a Tool to Mislead Investors: Evidence from Earnings Quality and Stock Performance" (joint with Konan Chan, David Ikenberry and Yanzhi Wang), Journal of Corporate Finance (April 2010)
"Economic shock, owner-manager incentives, and corporate restructuring: Evidence from the financial crisis in Korea" (joint with Jun-Koo Kang and Hyun-Seung Na), Journal of Corporate Finance (June 2010)
"Informed Traders: Linking Legal Insider Trading and Share Repurchases" (joint with Konan Chan, David Ikenberry and Andrew Wang), Financial Analyst Journal, (Jan/Feb 2012)
"Do voluntary corporate restrictions on insider trading eliminate informed insider trading?" (joint with Michael Lemmon, Yan Li and John Sequeira), Journal of Corporate Finance (December 2014)
"Corporate governance and the protability of insider trading" (joint with Lili Dai, Renhui Fu and Jun-Koo Kang), Journal of Corporate Finance(Oct. 2016)
"Risk changes and external nancing activities: Tests of the dynamic trade-o theory of capital structure" (joint with Martin Dierker and Sung Won Seo), Journal of Empirical Finance (June 2019)
Working papers are available at the personal web site (http://www.business.kaist.ac.kr/faculty/inmoo/default.htm)

Research Areas

Various investment and corporate finance issues including insider trading, securities offerings, share repurchases, investment decisions and corporate risk management.

Empirical Corporate Finance(BA732)

Course information is available at http://www.business.kaist.ac.kr/faculty/inmoo/teaching.htm

Investment Banking()

Course information is available at http://www.business.kaist.ac.kr/faculty/inmoo/teaching.htm

Mergers and Acquisitions()

Course information is available at http://www.business.kaist.ac.kr/faculty/inmoo/teaching.htm

Corporate Finance for Finance MBA & EMBA()

Course information is available at http://www.business.kaist.ac.kr/faculty/inmoo/teaching.htm

Financial Database()

Course information is available at http://www.business.kaist.ac.kr/faculty/inmoo/teaching.htm

Publicity (Article/Column contribution & Media appearance)

Paper citation and/or quotation in the popular press:
New York Times (December 16, 2007)
Puget Sound Business Journal (April 23, 1999)
Business Week (October 5, 1998, page 182)
Miami Daily Business Review (November 5, 1997)
Forbes (November 3, 1997, page 402)
Institutional Investor (September 1996, page 37)