Kim, Hyun-Do Finance Faculty advisors justgo@kaist.ac.kr
박광우
About me

Master's Degree and Ph. D. in Management Engineering (Concentrated in Corporate Finance)
College of Business, Korea Advanced Institute of Science and Technology (KAIST)

Bachelor’s Degree in Industrial and Operations Engineering
College of Engineering, University of Michigan - Ann Arbor (Summa Cum Laude)

Research Interests

Corporate Finance and Governance, Corporate Prosecution, Executive Compensation, Corporate Social Responsibility, and Corporate Environmetal Performance

Last Updated 03 Nov 2021
Education
  • The University of Michigan - Ann Arbor | September 2009 - December 2012

    B.S.E. in Industrial and Operations Engineering (Summa Cum Laude)

  • Korea Advanced Institute of Science and Technology (KAIST) | February 2013 - February 2015

    M.S. in Management Engineering (concentrated in Finance)

  • KAIST | February 2015 - February 2021

    Ph. D. in Management Engineering (concentrated in Finance)

  • Job Market Paper The Effect of Corporate Prosecutions on Corporate Financial Policy

    This paper investigates the impact of corporate prosecutions on firm risk and corporate financial policy. Using a unique dataset from Corporate Prosecution Registry compiled by Duke University School of Law and the Legal Data Lab at the University Virginia, I first conduct an event study to show that prosecuted firms experience negative abnormal stock returns around the press release from the Department of Justice (DOJ). Also, I find that the prosecuted firms exhibit negative buy-and-hold stock returns and high turnover ratio in the stock market, using univariate tests. Moreover, I implement a difference-in-differences regression methodology, and find that the risk associated with the prosecuted firms in the stock market significantly increase after the prosecutions. Consequently, those firms are likely to hold more cash following the prosecutions, and even decrease their capital investments and mergers and acquisitions when they are imposed heavy regulatory fines.

    Working Papers
    Work in Progress
    Publications Impact of Environmental Disaster Movies on Corporate Environmental and Financial Performance

    Using a unique United States box office data set, we investigate the impact of environmental sentiment on corporate environmental and financial performance of the United States listed firms. The influence of mass media on public and investor sentiments is well documented in the existing literature. However, little is known about the effect of movies, although they may influence the public more than other mass media because people, regardless of age and gender, enjoy watching movies. Using the event study methodology and multivariable regression analysis, we show that the release of anthropogenic environmental disaster movie(s) creates environmental sentiment and influences corporate behaviors. Specifically, firms significantly increase their environmental performance in the subsequent year of strong environmental sentiment after the release of environmental movies. More importantly, the positive effect of corporate environmental performance on financial performance is stronger when the environmental sentiment is stronger.

    Reference
    Experience
    Honors and Awards High Honor, KAIST Business School

    High Honor at KAIST on December 2013

    Dean's List, College of Engineering, the University of Michigan

    Dean's List at the University of Michigan for all semesters

    University Honors, the University of Michigan

    University Honors at the University of Michigan for all semesters

    James B. Angell Scholar, the University of Michigan

    James B. Angell Scholar from 2011 to 2013

    Other Activities Sunday School Teacher at Evergreen Presbyterian Church

    Sunday School Teacher for Elementary School Students at Evergreen Presbyterian Church from 2014 to 2019

    Worship Leader of Youth Group at Evergreen Presbyterian Church

    Worship Leader of Youth Group at Evergreen Presbyterian Church from 2015 to 2019

    President of Korean International Student Association (KISA) at the University of Michigan

    President of KISA at the University of Michigan from 2011 to 2012

    Captain of Korean Undergraduate Soccer Team (F.C. UMK) at the University of Michigan

    Captain of F.C. UMK from 2011 to 2012