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RESEARCH INTEREST           Corporate finance (external financing, credit risk, firm financial policies, etc.)


Aug 2018 to Present:    Baruch College, CUNY
Zicklin School of Business, Ph.D. program in Finance
 Mar 2016 to Feb 2018:   Yonsei University, Seoul, Korea
Master’s Program in Business Administration, concentrating on finance
Advisor: Hyun Han Shin, Ph.D.
Mar 2009 to Feb 2016:   Yonsei University, Seoul, Korea
Major: Business Administration
Minor: Mathematics, Economics



Published in 2018:   Do firms park capital? Evidence from the U.S. manufacturing sector
Investment Management and Financial Innovations Volume 15, 2018 Issue #2 pp. 194-202
Coauthor: Paul Moon Sub Choi (based on Master’s thesis)
Published in Feb 2018:   “Inefficient cash holdings: Evidence from U.S. based manufacturing large firms.”
Supervisor: Shin, Hyun Han
Master’s degree thesis
Fall 2020 to Current:   Lecturer, FIN 3000 (Undergrad Into. to Finance) – Baruch College, CUNY
(Link to the lecture videos):



Fall 2019 to Spring 2020: Teaching Assistant, ECO 1002 (Undergrad Macro) – Baruch College, CUNY

Aug 2018 to Present: Research Assistant – Baruch College, CUNY

Sep 2016 to Feb 2018: Teaching/Research Assistant Professor Hyun Han Shin - Corporate Finance

Sep 2015 to Dec 2015: Undergraduate Research Assistant, Professor Moon Sub Choi



1. The effect of ESG disclosure on corporate investment policies with Elsa Allman
Abstract: This paper examines the effects of environmental, social and governance (ESG) disclosure on investment efficiency, using the adoption of Directive 2014/95/EU as a quasi-natural shock on disclosure quality. We document a significant and robust reduction of underinvestment for U.S. firms with significant activities in the EU, which exposes them to the Directive, relative to U.S. firms not affected. These firms are able to raise additional debt after the adoption of the Directive, although there is no evidence of any impact on new capital raised in equity markets. In addition, investment efficiency gains are strongest for firms with ex-ante lower ESG disclosure levels and firms that are financially constrained. These results suggest that nonfinancial disclosure requirements can play a role in mitigating adverse selection problems for underinvesting firms, especially in debt markets, in a manner similar to disclosure of financial information.


Aug 2018 to Present CUNY Fellowship

Sep 2009 Scholarship for academic achievement (undergrad, award amount: $1,000)

WORK EXPERIENCE              

Feb 2011 to Feb 2013                   Military Service, R.O.K Army

Namdaemun Police Station – Public Service Agent




Computer skills: Python, R, SAS, STATA, Matlab

Language skills: Korean (Native), English (Fluent), Spanish (Moderate)


Disclaimer: The biography is as of the date the speaker presented.
Event Name Authors Present their Winning Research Papers
Event Date 2021-06-17

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