CorpFin Lab

기업재무 연구실

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기업재무 연구실

The CORPFIN laboratory studies a variety of topics related to corporate finance. Corporate activities can be broadly divided into investment, financing, and profit distribution. Companies invest in tangible and intangible assets for production. Financing can include issuing bonds, reinvesting with retained profits, and further selling shares to shareholders. In other words, investment decisions are about the execution of funds, and capital raising decisions are about the company's capital structure. It is also very important to increase the value of the company through expansion so that it can use the fair distribution of profits (dividends) to shareholders so that they can trust and invest in the capital market again.
A good corporate governance system is closely linked to the corporate value. Under a good corporate governance system, managers and employees are well-incentivized and compensated to enhance firm value, and ultimately realize the value of corporate social responsibility that returns benefits to all stakeholders around the firm. In this laboratory, we investigate the various issues around modern corporation including the capital structure, corporate financial disclosure, M&A (merger and acquisition), market efficiency, ESG (Environment, Social, and Governance), Initial Public Offerings, and the valuation of assets or investments.

관심분야

Empirical Corporate Finance, Financial Disclosure, Market Efficiency, Institutional Investors, Corporate Governance, CSR, IPOs

희망분야

프로젝트 파이낸스 (Large-Scale Investment), 기업구조조정, Private equity, ESG investment, Valuation(ROV, 실물옵션)

Research Keywords and Topics

- 기업재무 (소유구조 및 부당거래, 기업부도, 재무적곤경과 부채구조조정, 배당정책, 보상 및 인센티브 메커니즘, 기업 인수합병)
- 자본시장에서 재무공시의 역할
- 기관투자자
- 기업지배구조, 이사회
- 환경, 사회, 지배구조 (ESG)
- 기업공개
- 시장미시구조
- 프로젝트 파이낸스 (Large-Scale Investment), 기술가치평가

Research Publications
MORE

“Market value of 10-K readability and corporate cash holdings", Economics Letters, 2021,(with Sanghak Choi, Chung Young Chung, and Daejin Kim)
"Is Foreign Exchange Risk Priced in Bank Loan Spreads?", Review of Quantitative Finance and Accounting, 2021,(with Young Kim and Ha-Chin Yi)
“Revisiting Bookbuilding versus Auction IPOs: A Perspective of Informationally Efficient Prices in the Aftermarket”, Journal of Financial Research, 2019, (with Hyeongsop Shim and Ha-Chin Yi)
“CEO duality and Firm Performance: Does Economic Policy Uncertainty Mediate the Relation?”, International Review of Finance, 2018,(with Kiyoung Chang and Hyeongsop Shim)

국가과학기술표준분류

  • SC. 경제/경영
  • SC13. 재무관리
  • SC1302. 기업재무

국가기술지도분류

  • 기타 분야
  • 060000. 국가기술지도(NTRM) 99개 핵심기술 분류에 속하지 않는 기타 연구

6T분류

  • 기타 분야
  • 기타 분야