Hae mi (Amy) Choi
Associate Professor of Finance
Professor Choi researches the role of information, incentives, and behavioral biases in financial markets. Her work has been published in top finance and accounting journals, including Management Science (a Financial Times Top 50 journal), where she examined the stock price implications of SEC enforcement waves related to financial misrepresentation. She was named Quinlan’s 2023 Researcher of the Year.
A faculty fellow at the Gannon Center for Women and Leadership, Professor Choi is currently exploring the hiring and firing of diverse mutual fund managers. At Loyola, she teaches undergraduate Business Finance, Fundamentals of Corporate Finance, and the Quinlan Honors Program.
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
- Financial Markets
- Financial Analysts
- Mutual Funds
- Empirical Asset Pricing
- Corporate Governance
Professional Employment
- Associate Professor of Finance, Loyola University Chicago, 2019-present
- Assistant Professor of Finance, Loyola University Chicago, 2011-19
- Research Associate, Harvard Business School, 2005-06
Professional/Community Affiliations
- Executive Board Member, Korean-American Finance Association (KAFA)
- Founding Member, KAFA-WIN (Women’s Initiative Network)
- Member of American Finance Association (AFA) and Financial Management Association (FMA)
- Faculty Advisor, Delta Sigma Pi
Courses Taught
- FINC 332: Business Finance
- FINC 625: Applied Econometrics
- FINC 334: Fundamentals of Corporate Finance
- FINC 334H: Fundamentals of Corporate Finance Honors
Publications/Research Listings
Referred Journal Publications:
Choi, Hae mi, Jonathan Karpoff, Jerry Martin, and Xiaoxia Lou (2022), “Enforcement Waves and Spillovers”, forthcoming, Management Science.
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.
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.
Choi, Hae mi (2020), “Short Selling and Informational Efficiency to Private Information- A Natural Experiment”, Financial Review 55, p625-643.
Choi, Hae mi (2019), “Market Uncertainty and Trading Volume Around Earnings Announcements”, Finance Research Letters, 30, p14-22.
Choi, Hae mi (2018), “A Tale of Two Uncertainties”, Journal of Banking and Finance, 92, p81-99.
Chang, Jin Woo and Hae mi Choi (2017), “Analysts’ Optimism and Incentives under Market Uncertainty”, Financial Review, 52(3), p307-345. (Lead Article).
Choi, Hae mi (2017), “Short-selling and the Rounding of Analysts’ Forecasts- A Natural Experiment”, Finance Research Letters, 52, p47-52.
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.
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, Quinlan School of Business, 2023