Ben Charoenwong

Assistant Professor of Finance at NUS Institute of Systems Science

Assistant Professor in Finance at National University of Singapore

Schools

  • National University of Singapore
  • NUS Institute of Systems Science

Expertise

Links

Biography

NUS Institute of Systems Science

Ben Charoenwong is an Assistant Professor in Finance at the National University of Singapore Business School.

His research includes studying the interaction of supply chain and financial leverage decisions, pricing the voting component of common stock, and the regulation of investment advisers.

Ben completed his PhD in Finance at the University of Chicago Booth School of Business. Before that, he graduated from the University of Michigan - Ann Arbor in 2012 with a Bachelor of Science in Honors Economics, Honors Statistics, and Financial Mathematics with Highest Distinction.

Research Interest

  • Financial Regulation
  • Empirical Asset Pricing
  • Networks
  • Corporate Finance
  • Agency Conflicts

Published & Forthcoming Papers

"Bank of Japan Equity Purchases: The (Non-)Effects of Extreme Quantitative Easing" with Randall Morck and Yupana Wiwattanakantang. (2021). Review of Finance. 25(3):713-743. (Tweetstorm. Official Journal Link. Research Digest.) DOI: 10.1093/rof/rfaa029.

The BOJ ETF purchase policy seems to have price effects but firms appear to "cash in" rather than increase tangible capital investment or R&D spending.

"Social connections with COVID-19-affected areas increase compliance with mobility restrictions" with Alan Kwan and Vesa Pursiainen. (2020). Science Advances. 6(47):1-10. DOI: 10.1126/sciadv.abc3054. (Data: Facebook Data For Good). NUS Links to the Research Summary: LinkedIn, Twitter, YouTube, Telegram.

A one-standard-deviation increase in social connections with China and Italy - the first countries with major outbreaks of the virus – increases the effectiveness of mobility restrictions by around 50%.

"Does Regulatory Jurisdiction Affect the Quality of Investment-Adviser Regulation?" with Alan Kwan and Tarik Umar. (2019). American Economic Review. 109(10):3681-3712. DOI: 10.1257/aer.20180412. (Official Link. Referred to by a statement by SEC Commissioner Robert Jackson on June 5, 2019.)

Investment advisers switching from SEC to state regulator oversight due to the Dodd-Frank Act had around 30-40% more misconduct.

National University of Singapore

Ben Charoenwong is an Assistant Professor in Finance at the National University of Singapore Business School.

His research includes studying the interaction of supply chain and financial leverage decisions, pricing the voting component of common stock, and the regulation of investment advisers.

Ben completed his PhD in Finance at the University of Chicago Booth School of Business. Before that, he graduated from the University of Michigan - Ann Arbor in 2012 with a Bachelor of Science in Honors Economics, Honors Statistics, and Financial Mathematics with Highest Distinction.

Research Interests

Primary Corporate Finance, Networks, Financial Regulation, Household Finance

Secondary Corporate Governance, Macroeconomics, Empirical Asset Pricing

Education

  • Master of Business Administration - MBA The University of Chicago Booth School of Business (2015 — 2017)
  • Doctor of Philosophy - PhD The University of Chicago Booth School of Business (2012 — 2017)
  • Bachelor of Science University of Michigan (2009 — 2012)
  • High School Diploma Singapore American School (2002 — 2009)

Published & Forthcoming Papers

  • “Fickle Fingers: Ride-Hail Surge Factors and Taxi Bookings” with Sumit Agarwal, Shih-Fen Cheng, and Jussi Keppo. (2021). Accepted at Transportation Research Part C: Emerging Technologies.
  • “Bank of Japan Equity Purchases: The (Non-)Effects of Extreme Quantitative Easing” with Randall Morck and Yupana Wiwattanakantang. (2021). Review of Finance. 25(3):713-743.
  • “Social connections with COVID-19-affected areas increase compliance with mobility restrictions” with Alan Kwan and Vesa Pursiainen. (2020). Science Advances. 6(47):1-10.
  • “Does Regulatory Jurisdiction Affect the Quality of Investment-Adviser Regulation?” with Alan Kwan and Tarik Umar. (2019). American Economic Review. 109(10):1-32.

Books/Book Chapters

  • Charoenwong, B., and Alan Kwan (2021). "Alternative Data, Big Data, and Applications to Finance". In P. Moon Sub Choi, S. H. Huang (Ed.), Fintech with Artificial Intelligence, Big Data, and Blockchain. Springer.
  • Charoenwong, B. (2021). COVID-19 in the global production network. In S. Agarwal, Z. He, B. Yeung (Ed.), Impact of COVID-19 on Asian economies and policy responses. (1st ed., pp. 172).

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