RESEARCH INTEREST Corporate finance (external financing, credit risk, firm financial policies, etc.)
EDUCATION
| Aug 2018 to Present: | Baruch College, CUNY Zicklin School of Business, Ph.D. program in Finance |
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| Mar 2016 to Feb 2018: | Yonsei University, Seoul, Korea Masters Program in Business Administration, concentrating on finance Advisor: Hyun Han Shin, Ph.D. |
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| Mar 2009 to Feb 2016: | Yonsei University, Seoul, Korea Major: Business Administration Minor: Mathematics, Economics |
RESEARCH
| 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 Masters thesis) |
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| Published in Feb 2018: | “Inefficient cash holdings: Evidence from U.S. based manufacturing large firms.” Supervisor: Shin, Hyun Han Masters degree thesis |
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| Fall 2020 to Current: | Lecturer, FIN 3000 (Undergrad Into. to Finance) – Baruch College, CUNY (Link to the lecture videos): https://youtube.com/playlist?list=PLnijelloBEFJ1PzJrEzhQ_0faMt5nmO6u) |
TEACHING
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
WORKING PAPERS
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.
HONORS, AWARDS & SCHOLARSHIPS
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
CERTIFICATIONS
AND SKILLS
Computer skills: Python, R, SAS, STATA, Matlab
Language skills: Korean (Native), English (Fluent), Spanish (Moderate)
