Soon Hyeok Choi Headshot

Soon Hyeok Choi

Assistant Professor

Department of Finance and Accounting
Saunders College of Business
schoi@saunders.rit.edu
585-475-2873
Office Location
LOW-2072

Soon Hyeok Choi

Assistant Professor

Department of Finance and Accounting
Saunders College of Business

Education

BA, Bowdoin College; MPS, MA, Ph.D., Cornell University

Bio

Dr. Soon Hyeok Choi is an Assistant Professor of Real Estate Finance at the Saunders College of Business in RIT. He is a real estate and financial economist. His research interests are real estate finance (residential, commercial, hospitality) and corporate finance with an emphasis on the study of durable asset financing, asset price bubbles, financial inclusion, sustainability, and deep learning large language models. Dr. Choi holds a Ph.D., MA, MPS from Cornell University and AB from Bowdoin College

schoi@saunders.rit.edu
585-475-2873
Personal Links
Personal Website
ORCID
Curriculum Vitae
LinkedIn
Areas of Expertise
Corporate Finance
Credit Risk
Real Estate
Contracts
Option Pricing
Climate Risk
Deep Learning
Natural Language Processing

Select Scholarship

“Is Nifty Going Up Too Quickly? The Case of the Indian Stock Bubble” (with Robert A. Jarrow), Working Paper, 2024.

“Is the Current Bull Market A Bubble? An Empirical Investigation” (with Robert A. Jarrow), Working Paper, 2024.

“The Winner's Curse in Housing Markets” (with Adam Nowak, Patrick Smith, Alexei Tchistyi), Working Paper, 2024.

“Selling Houses as Minority Broker: Quantifying Diversity Discount”, Working Paper, 2024.
- Innovative Thinking Award - “Thinking Out of the Box”, $1,000 sponsored by Greenfield Advisors, American Real Estate Society 2024

“Pricing the Upside Potential to Downside Risk” (with Robert A. Jarrow, Daniel Lebret, Crocker H. Liu), Working Paper, 2024.
- Semifinalist for Best Paper Award, Financial Intermediation & Institutions, Financial Management Association 2023
- Best Practitioner Research Award (Non-residential), $2,500 sponsored by BOMA International, American Real Estate Society 2023

“A Theory of Durable Asset Leasing” (with Crocker H. Liu), Working Paper, 2024.

“Applying the Local Martingale Theory of Bubbles to Cryptocurrencies” (with Robert A. Jarrow), International Journal of Theoretical and Applied Finance, 2022, Vol. 25 No. 03 2250013 1-25.

Currently Teaching

ESCB-810
Financial Economics
3 Credits
Economics is an important foundation for business research. This course focuses on the behavior of individuals and firms in various market settings. Classical issues of demand, supply, and market equilibrium, as well as topics more germane to business research such as contracting and theory of firm are covered. Throughout, focus is on developing economic intuition, understanding applications to business research, and accumulating an in-depth understanding of useful economic theories and tools.
FINC-120
Personal Financial Management
3 Credits
Examines financial decisions people must make in their personal lives. Covers personal taxation, housing and mortgages, consumer credit, insurance (including life, health, property and casualty), and retirement and estate planning. Also reviews the common financial investments made by individuals, including stocks, bonds, money market instruments and mutual funds. This class involves extensive use of the internet for access to information. (Students in the Finance Program may use this course only as a free elective, not as a course creditable towards the Finance Program.)
HSPT-465
Hospitality Asset Management and Investment
3 Credits
This course introduces the foundations and processes of hotel asset management, including real estate and the physical asset, franchising, hotel chain affiliations, hotel management and franchise contracts, hotel valuation, and financial analysis of hotel investments. This course provides a framework for understanding hotel asset management and real estate investment from the financial and operational aspects.
HSPT-760
Hospitality Asset Management
3 Credits
This course introduces students to the role and functions of a hospitality asset manager. This course provides students the knowledge, skills, and competencies required to apply real estate tactics and strategies to maximize asset performance. Students will learn the different analyses that lead to investment, branding, and operational decisions. Asset managers are responsible for capital investment decisions, negotiating hotel management contracts, and creating value for investors and brand owners. Students will learn how to balance the interests of investors, owners, and franchisors to create maximum value for each through appropriate operational and financial decisions.

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