Korean Securities Association is pleased to announce the 2009 Best Paper in Asia–Pacific Journal of Financial Studies.

 
      The First Prize :            

             'The Impact of Day–Trading on Volatility and Liquidity'               
               Jay M. Chung (University of Seoul)
               Hyuk Choe(Seoul National University)
               Bong–Chan Kho(Seoul National University)

 
 
        The Second Prize : 

             'The Dynamics of Diversification Discount '
               Seoungpil Ahn(Sogang University)

        Manuscripts published in Volume 38 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 20, 2010

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 Korean Securities Association