Korean Securities Association is pleased to announce the 2017 Best Paper in

                                           Asia–Pacific Journal of Financial Studies    

   The First Prize:

            'Board Independence, CEO Ownership, and Compensation'

          Hae Jin Chung (KAIST)

          Kose John (New York University and Temple University)      

   The Second Prize :  

            'Effects of Institutional Investors’ Bidding Information on Offer Prices and Initial

             Returns of IPOs'

             Sung Wook Joh(Seoul National University)

             Yoo-Hwan Kim(Meritz Securities Co., Ltd.)                     

    Best Reviewer Award :

            - Pi-Hsia Hung (National Chi Nan University) 

            - Hoyong Choi (Erasmus University

    Manuscripts published in Volume 46 of Asia–Pacific Journal of Financial Studies were eligible

    for the Best Paper Prize.

    The presentation of the prize was made at the KSA annual meeting on February 23, 2018.