김중혁Kim, Joonghyuk

  • 재무금융
  • 교수
  • 투자, 증권분석, 행동적 재무, 기업재무
  • LG-POSCO 경영관 516호
  • TEL : 02-3290-2607
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  • Fax : +82-2-922-7220
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  • 2001 University of Illinois at Urbana-Champaign (Ph.d in Finance)
  • 1995 University of Illinois at Urbana-Champaign (MS in Finance)
  • 1993 고려대학교 경영대학 무역학과 (경영학학사)


Academic Positions
  • 2016.3 - 현재 고려대학교 경영대학 경영학과 교수
  • 2004.9 - 2016.2 고려대학교 경영대학 경영학과 조교수, 부교수
  • 2001.7 - 2004.6 Case Western Reserve University, Weatherhead School of Management, Dept. of Banking and Finance, 조교수
  • 2017.4 - 현재 고려대학교 교수의원
  • 2016.10 - 현재 한미재무학회 (KAFA) 부회장
  • 2016.3 - 현재 고려대학교 기업지배구조연구소 (AICG) 부소장
  • 2014.1 - 현재 재무연구 편집위원
  • 2013.9 - 현재 금융연구 편집위원
  • 2009.3 - 2010.6 KOSDAQ 상장폐지 실질심사위원
  • 2006.10 - 2008.1 증권학회지 편집위원
  • 한국재무학회, 한국증권학회, 한국금융학회 이사 등



  • Research Interest
Investments, Security Analyst Issues, Corporate Finance, IPOs, SEOs, Corporate Governance, CSR
  • Published Papers
“Market reaction to security breach announcements: Evidence from South Korea” (joint with Anat Zeelim-Hovav and JinYoung Han), The Data Base for Advances in Information Systems, Vol. 48, 2017
“Business group and its effect on financial distress risk” (joint with Yunxiao Liu and Woochan Kim), The Korean Journal of Financial Management (재무관리연구), Vol. 33, 2016

기업의 사회적 책임 활동, 조세회피와 기업가치” (Corporate Social Responsibility, Tax avoidance and Firm value) (joint with Hyun Il Lim), Journal of Money and Finance (금융연구), Vol. 29, 2015
“Bond market dynamics in East Asian countries” (joint with Yunxiao Liu and James L. Park), The Korean Journal of Financial Management (재무관리연구), Vol. 32, 2015
“Insiders’ Pre-IPO ownership, underpricing, and share-selling behavior: Evidence from Korean IPOs” (Joint with Sang Koo Kang, Hyung Cheol Kang and Noolee Kim), Emerging Markets Finance and Trade, Vol. 51, 2015
“How do financial constraint and distress measures compare?” (joint with James L. Park), Investment Management and Financial Innovations, Vol. 12, 2015
주간사와 기관투자자간의 거래관계가 IPO 배정(Allocation)에 미치는 영향” (Underwriter-Investor Relationships and IPO Allocations in Korea) (joint with Jaiwoong Chung), Journal of Money and Finance (금융연구), Vol. 29, 2015; won the best paper award from Journal of Money and Finance (2015)
“Market responses to analysts’ recommendations and Information Weighting” (joint with Sang Koo Kang), formally circulated under “Market reaction to analysts’ stock recommendations with different weighting of private information”, Journal of Money and Finance (금융연구), Vol. 26, 2012; won the best paper award from Korean Academic Society of Business Administration (2009) and from Journal of Money and Finance (2012) )
“Are there long-run implications analyst coverage for IPOs” (joint with Daniel Bradley, Konan Chan and Ajai Singh), Journal of Banking and Finance, Vol. 32, 2008
“The IPO derby: Are there consistent losers and winners on this track?” (joint with Konan Chan, John W. Cooney, Jr. and Ajai Singh), Financial Management, Vol. 37, 2008
애널리스트 투자정보의 유용성과 정보비대칭” (Information asymmetry and Added value of analyst recommendations) (joint with Sangkoo Kang and Chanwoo Lim), The Korean Journal of Finance (재무연구), Vol. 20, 2007
“The pricing of underwriting services in the Korean IPO market: Characteristics and Determinants (joint with Ok-hwa Ahn and Pando Son), Asia-Pacific Journal of Financial Studies, October, 2007

"Analyzing the analysts: When do recommendations add value?" (joint with Narasimhan Jegadeesh, Susan D. Krische, and Charles M.C. Lee), Journal of Finance, Vol. 59, 2004

  • Working Papers
"Dual-class stock splits and Liquidity" (with Ji-Chai Lin, Ajai Singh, and Wen Yu), presented at the First Singapore International Conference on Finance 2007

“Earnings management and corporate social responsibility: International evidence” (joint with Jinhua Cui and Hoje Jo), presented at the FMA, Las Vegas, 2016

“Underwriter-investor relationships and investment horizons in IPOs” (joint with Jaiwoong Chung)

“The characteristics and initial returns of firms going public through Korean SPAC ” (joint with Minjung Park)

“Information content of ESOP and IPO underpricing” (joint with Sang Koo Kang, Hyungchul Kang, and Noolee Kim)

Work in progress
“VC and IPO matching”

“Underwriters’ conflicts of interests in accelerated SEOs”

“Effects of external governance on CSR” (joint with Yunxiao Liu)

“Internal and External Financial Constraint” (joint with Byungjoo Lee)