phbs
phbs
Visiting Assistant Professor
Hyun Joong Im
Ph.D., Financial Economics, University of Oxford
Research Interests: Corporate Finance, Financial Intermediation, Financial Markets, Risk Management
phbs
86-755-2603-3627
phbs
hyun.im@phbs.pku.edu.cn
phbs
Office: 645
phbs
CV
Biography
Education:
University of Oxford
DPhil & MSc in Financial Economics,  2006.9-2012.7
- Thesis title: Essays in Corporate Finance
- Advisors: Steve Bond and Oren Sussman
- Examiners: Thomas Noe (Internal) and Stefano Rossi (External)
- DPhil degree awarded: July 2012
- MSc degree awarded with Distinction: July 2007

University of Sydney
MCom (Hons) in Finance and Economics (with First Class Honours), 2004.7-2006.7

Korea University
Bachelor of Economics (Major: Statistics, Minor: Economics), 1993.3-1999.2
Employment:  
- Assistant Professor of Finance, Peking University HSBC Business School (PHBS), 2014.8-present
- Assistant Professor of Finance, Renmin University of China, 2012.8-2014.8
- Visiting Scholar, University of New South Wales (UNSW), 2015.7-2015.8, 2016.10
- Visiting Scholar, Nanyang Technological University (NTU), 2016.1-2016.2, 2016.8-2016.9
- Visiting Scholar, Nuffield College and Saïd Business School, University of Oxford, 2014.1-2014.2
- General Manager, Korea Development Bank-Lone Star Co., Ltd., 2002-2004
- Equity Analyst, Samsung Investment Trust Management Co., Ltd., 2001-2002
- Deputy Director, Ministry of Finance and Economy, South Korea, 1998-2001
- Part-time Lecturer, Hanlim Institute of Laws and Public Administration, 1998-1999
- Passed the 41st National Higher Civil Service Exam (Specialization: Finance and Economics) with the second highest score in Korea, 1997.11
Research Fields:
- Corporate Finance
- Economics of Innovation
- Stock Markets
- Financial Intermediation
- Financial Regulation
- Personal/Household Finance
- Econometrics and Statistics
- Policy Evaluation
- Fintech, Financial Big Data, and Machine Learning

Published Papers:
1. H.J. Im*, J. Shon (2019), “The Effect of Technological Imitation on Corporate Innovation: Evidence from US Patent Data,” Research Policy (FT50; SSCI; ABDC A*; ABS 4*), Vol. 48 (2019), 103802.
2. H.J. Im* (2019), “Asymmetric Peer Effects in Capital Structure Dynamics,” Economics Letters (SSCI; ABDC A), Vol. 176 (March 2019), pp. 17–22.
- Australasian Finance and Banking Conference (AFBC), Sydney, Australia, 2015
3. H.J. Im, H. Park, G. Zhao (2017), “Uncertainty and the Value of Cash Holdings,” Economics Letters (SSCI; ABDC A), Vol. 155, pp. 43–48.
4. C.Y. Ha, H.J. Im*, Y. Kang (2017), Sticky Dividends: A New Explanation,” Finance Research Letters (SSCI; ABDC B), Vol. 23, pp. 69–79.
5. H.J. Im, Y.J. Park, J. Shon (2015), Product Market Competition and the Value of Innovation: Evidence from US Patent Data,” Economics Letters (SSCI; ABDC A), Vol. 137, pp. 78–82.

Working Papers:
1. “How Does Uncertainty Influence Target Capital Structure?” (with Ya Kang and Janghoon Shon)
- Revise and Resubmit at Journal of Corporate Finance (SSCI; ABDC A*)
2. “Liquidity, Information Production, and Debt-Equity Choice” (with William Cheung, Thomas Noe and Bohui Zhang) Online Appendix
- Asiatic Research Institute/Korea University Brain Korea 21 Plus Economics Research Group Joint Conference on "Challenges to Asia and Global Economy," 2019
- Korea-America Economic Association/Korea-America Finance Association/Korea Institute of Finance Joint Conference, 2019
- China International Conference in Finance (CICF), Hangzhou, China, 2017
- Asian Finance Association (AsFA) Annual Meeting, Seoul, Korea, 2017
- Financial Management Association (FMA) European Conference, Lisbon, Portugal, 2017
- PKUNUS Annual International Conference on Quantitative Finance and Economics, Suzhou, China, 2017
- Earlier version, Financial Management Association (FMA) Annual Meeting, Chicago, USA, 2013
- Earlier version, Australasian Finance and Banking Conference (AFBC), Sydney, Australia, 2013
- Earlier version, OxfordCambridgeWarwick Spring Doctoral Conference, Coventry, UK, 2011
- University of Oxford, Saïd Business School
- BI Norwegian Business School
- Renmin University of China, Hanqing Advanced Institute of Economics and Finance
- Renmin University of China, School of Business
- Korea University Business School
- Korea University, Department of Economics
- Seoul National University, College of Business Administration
- Yonsei University, School of Business
- Australian National University, College of Business and Economics
- University of Melbourne, Faculty of Business and Economics
- Peking University HSBC Business School
- University of Queensland Business School
- Toulouse School of Economics
- Korea Advanced Institute of Science and Technology, Graduate School of Future Strategy
- Based on Chapters 5 and 6 of my doctoral dissertation at the University of Oxford titled “Essays in Corporate Finance”
3. “Heterogeneity in Investment Spike Financing (with Colin Mayer and Oren Sussman)
- Financial Intermediation Research Society (FIRS) Conference, Hong Kong, 2017
- Financial Management Association (FMA) Annual Meeting, Boston, USA, 2017
- Asian Finance Association (AsFA) Annual Meeting, Seoul, Korea, 2017
- Financial Management Association (FMA) European Conference, Lisbon, Portugal, 2017
- PKUNUS Annual International Conference on Quantitative Finance and Economics, Suzhou, China, 2017
- China Finance Review International Conference (CFRIC), Shanghai, China, 2015
- Australasian Finance and Banking Conference (AFBC), Sydney, Australia, 2014
- China Economic Association (CEA) Conference, Shenzhen, China, 2014
- Earlier version, OxfordCambridgeWarwick Spring Doctoral Conference, Cambridge, UK, 2010, Winner of the Best Paper Award
- Earlier version, Oxford Saïd Business School Winter Doctoral Conference, Oxford, UK, 2010, Winner of the Best Paper Award
- University of Oxford, Saïd Business School
- Seoul National University, College of Business Administration
- Korea Advanced Institute of Science and Technology, Graduate School of Future Strategy
- Based on Chapters 3 and 4 of my doctoral dissertation at the University of Oxford titled “Essays in Corporate Finance” and Colin Mayer and Oren Sussman’s working paper titled “A New Test of Capital Structure”
4. “Policy Uncertainty and Peer Effects: Evidence from Corporate Investment from China” (with Ya Kang, Barry Oliver, and Young Joon Park)
- Financial Management Association (FMA) Asia-Pacific Conference, Taipei, Taiwan, 2017
- PKUNUS Annual International Conference on Quantitative Finance and Economics, Suzhou, China, 2017
- Conference on Asia-Pacific Financial Markets (CAFM), Seoul, Korea, 2017
- China Meeting of the Econometric Society (CMES), Wuhan, China, 2017
- Asian Meeting of the Econometric Society (AMES), Hong Kong, 2017
5. “Uncertainty, Investment Spikes, and Leverage Adjustments (with Robert Faff)
- China International Conference in Finance (CICF), Tianjin, China, 2018
- PKUNUS Annual International Conference on Quantitative Finance and Economics, Beijing, China, 2018
- Asian Finance Association (AsFA) Annual Meeting, Seoul, Korea, 2017
- Financial Management Association (FMA) Annual Meeting, Las Vegas, USA, 2016
- Financial Management Association (FMA) Asia-Pacific Conference, Sydney, Australia, 2016
- World Finance Conference (WFC), New York, USA, 2016
- SungKyunKwan University Business School
- Yonsei University Business School
6. “Stock Liquidity and the Under-investment Problem: A Quasi-natural Experiment in China” (with William Cheung, Srinivasan Selvam, and Robert Faff)
- Western Economic Association International (WEAI) Annual Meeting, San Francisco, USA, 2019
- Asian Meeting of Econometric Society (AMES), Xiamen, China, 2019
- PKU–NUS Annual International Conference on Quantitative Finance and Economics, Shenzhen, China, 2019
- Conference on Theories and Practices of Securities and Financial Markets (SFM), Kaohsiung, Taiwan, 2018
- Australasian Finance and Banking Conference (AFBC), Sydney, Australia, 2018
- Conference on Asia-Pacific Financial Markets (CAFM), Seoul, Korea, 2018
7.Transient Institutional Ownership, Costly External Finance, and Corporate Cash Holdings (with Heungju Park, Shams Pathan, and Robert Faff)
- Financial Management Association (FMA) Annual Meeting, San Diego, United States, 2018
- A semifinalist for one of best paper awards at the 2018 FMA Annual Meeting
- Conference on Asia-Pacific Financial Markets (CAFM), Seoul, Korea, 2018
8. “CSR Performance and the Economic Value of Innovation” (with Barry Oliver, Roy Song and Meng Zhao)
9. “Liquidity and the Value of Innovation” (with Srinivasan Selvam and Kelvin Tan)

Research Papers:
View my research on my SSRN Author page: 
http://ssrn.com/author=1081350

Teaching Experience:
Peking University HSBC Business School

- Theoretical Foundations of Corporate Finance (MSc), Instructor, 2014-2015, 2015-2016, 2016-2017 (2 sessions), 2017-2018 (2 sessions)
- Empirical Asset Pricing (MSc), Instructor, 2014-2015, 2015-2016, 2016-2017, 2017-2018 (2 sessions)
- Empirical Banking (MSc), Instructor, 2015-2016
 
Renmin University of China
- Corporate Finance Theory (MPhil, PhD), Instructor, 2013-2014
- Financial Derivatives (International MBA), Instructor, 2013-2014
 
University of Oxford
- Financial Management (BA Hons. E&M), Tutor, 2009-2010, 2010-2011
- Finance (BA Hons. E&M), Tutor, 2009-2010
- Macroeconomics (MBA/EMBA), Teaching Assistant, 2008-2009, 2009-2010, 2010-2011
- Finance I (MBA/EMBA), Teaching Assistant, 2007-2008, 2008-2009
- Corporate Valuation (MBA/EMBA/MFE), Teaching Assistant, 2007-2008
- Fixed Income & Derivatives (MFE), Teaching Assistant, 2007-2008