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Hae mi (Amy) Choi

Associate Professor, Finance

Professor Choi’s work mainly focuses on the role of information in financial markets. She has published papers in finance and accounting journals that examine the effect macroeconomic uncertainty on investors’ learning from corporate earnings announcements, as well as the changes in security analysts’ incentives and optimism. Her current research is on the effect of analysts’ limited attention, the effect of Regulation SHO on shorting selling activity and stock prices, SEC enforcement waves, and public sector union and municipal debt, etc. She teaches undergraduate Business Finance and graduate Applied Econometrics at Loyola.

Education

  • PhD Finance, University of Washington, Seattle, Washington
  • MS Business Administration, University of Washington, Seattle, Washington
  • AM Statistics, Harvard University, Cambridge, Massachusetts
  • BBA Business Administration, Yonsei University, Seoul, Korea
  • BA Applied Statistics, Yonsei University, Seoul, Korea
  • Passed the CPA Examination in the State of California

Research Interests

  • Macroeconomic Conditions and Capital Markets
  • Empirical Asset Pricing
  • Corporate Governance
  • Analysts’ Forecasts
  • Public Finance and Municipal Bond Markets

Courses Taught

  • FINC 332: Business Finance
  • FINC 625: Applied Econometrics

Publications/Research Listings

Referred Journal Publications:

  1. Choi, Hae mi, Jonathan Karpoff, Jerry Martin, and Xiaoxia Lou (2022), “Enforcement Waves and Spillovers”, forthcoming, Management Science. 
  2. Choi, Hae mi, and Swasti Gupta-Mukherjee (2022), “Analysts’ Use of Industry-level and Firm-specific Information: Implications for Information Production”, forthcoming, Journal of Banking and Finance. 
  3. Choi, Hae mi, and Swasti Gupta-Mukherjee (2021), “Price-Sensitivity of the Consumer-Investor: Evidence from Energy Prices and Mutual Fund Fees”, Global Finance Journal 51. 
  4. Choi, Hae mi (2020), “Short Selling and Informational Efficiency to Private Information- A Natural Experiment”, Financial Review 55, p625-643. 
  5. Choi, Hae mi (2019), “Market Uncertainty and Trading Volume Around Earnings Announcements”, Finance Research Letters, 30, p14-22. 
  6. Choi, Hae mi (2018), “A Tale of Two Uncertainties”, Journal of Banking and Finance, 92, p81-99. 
  7. Chang, Jin Woo and Hae mi Choi (2017), “Analysts’ Optimism and Incentives under Market Uncertainty”, Financial Review, 52(3), p307-345. (Lead Article). 
  8. Choi, Hae mi (2017), “Short-selling and the Rounding of Analysts’ Forecasts- A Natural Experiment”, Finance Research Letters, 52, p47-52. 
  9. Choi, Hae mi (2014), “When Good News is Not So Good: Economy-wide Uncertainty and Stock Returns”, Journal of Business Finance and Accounting, 41 (9) & (10), p1101-1123. 
  10. Choi, Hae mi (2014), “What Drives the Earnings Announcement Premium Puzzle?” Journal of Accounting and Finance, 14 (1), p161-173. 

Awards

  • Researcher of the Year, 2023, Quinlan School of Business.