Hyun Joong Im

Peking University - HSBC Business School

Assistant Professor of Finance

University Town

Shenzhen, Guangdong 518055

China

SCHOLARLY PAPERS

18

DOWNLOADS

2,535

SSRN CITATIONS

12

CROSSREF CITATIONS

8

Ideas:
“  I am working on various issues in corporate finance: capital structure; investment efficiency; innovation; payouts and cash holdings; and corporate social responsibility. In particular, I am interested in strategic interactions between firms and the interaction between stock markets and corporate decisions. I am also interested in evaluating various policy issues.  ”

Scholarly Papers (18)

1.

Policy Uncertainty and Peer Effects: Evidence from Corporate Investment in China

Number of pages: 37 Posted: 09 Jan 2016 Last Revised: 31 Dec 2020
Hyun Joong Im, Barry R. Oliver and Young Joon Park
Peking University - HSBC Business School, University of Queensland - Business School and Peking University - HSBC School of Business
Downloads 428 (78,113)
Citation 3

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Corporate Investment Policy, Peer Effects, Economic Policy Uncertainty, Underinvestment, Information Cascade

2.

The Effect of Stock Liquidity on Debt-Equity Choices

China International Conference in Finance 2017; Asian Finance Association Annual Meeting 2017; PKU-NUS Conference 2017; FMA European Meeting 2017
Number of pages: 76 Posted: 06 Dec 2016 Last Revised: 06 Jan 2021
William M. Cheung, Hyun Joong Im and Bohui Zhang
University of Macau, Peking University - HSBC Business School and The Chinese University of Hong Kong, Shenzhen
Downloads 315 (110,811)

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Stock liquidity; Debt issuance; Equity issuance; Capital structure

3.

Uncertainty, Investment Spikes, and Leverage Adjustments

China International Conference in Finance 2018; PKU-NUS Conference 2018; AsFA Annual Meeting 2017; FMA Annual Meeting 2016; FMA Asia-Pacific Meeting 2016; Word Finance Conference 2016
Number of pages: 51 Posted: 15 Feb 2016 Last Revised: 02 Nov 2020
Hyun Joong Im, Robert W. Faff and Chang Y. Ha
Peking University - HSBC Business School, University of Queensland and Peking University - HSBC School of Business
Downloads 237 (148,629)
Citation 1

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Capital Structure, Uncertainty, Investment Spikes, Adjustment Speeds

4.

Heterogeneity in Investment Spike Financing

Financial Intermediation Research Society Conference 2017; FMA Annual Meeting 2017; FMA European Meeting 2017; AsFA Annual Meeting 2017; PKU-NUS Conference 2017; Australasian Finance and Banking Conference 2014
Number of pages: 59 Posted: 20 Jul 2014 Last Revised: 01 Feb 2020
Hyun Joong Im, Colin Mayer and Oren Sussman
Peking University - HSBC Business School, University of Oxford - Said Business School and European Corporate Governance Institute (ECGI)
Downloads 227 (154,898)

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Capital Structure, Corporate Finance, Lumpy Investment, Investment Spikes

5.

Product Market Competition and the Value of Innovation: Evidence from US Patent Data

Economics Letters, 137, 2015, pp. 78-82
Number of pages: 13 Posted: 18 Jul 2015 Last Revised: 26 Dec 2017
Hyun Joong Im, Young Joon Park and Janghoon Shon
Peking University - HSBC Business School, Peking University - HSBC School of Business and Hong Kong University of Science & Technology (HKUST) - Department of Finance
Downloads 192 (181,220)
Citation 3

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Innovation, Product Market Competition, Value of Innovation, Tariff Cuts

6.

Uncertainty and the Value of Cash Holdings

Economics Letters, 155, 2017, pp. 43-48
Number of pages: 13 Posted: 28 Feb 2017 Last Revised: 26 Dec 2017
Hyun Joong Im, Heungju Park and Gege Zhao
Peking University - HSBC Business School, Sungkyunkwan University - SKK Business School and Peking University - HSBC School of Business
Downloads 184 (188,335)

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Uncertainty, Cash Holdings, Real Options, Financial Constraints, Agency Costs

Liquidity, Information Production, and Debt-Equity Choice

Number of pages: 36 Posted: 29 Jul 2019 Last Revised: 06 Jan 2021
William M. Cheung, Hyun Joong Im and Thomas H. Noe
University of Macau, Peking University - HSBC Business School and University of Oxford - Said Business School
Downloads 117 (272,879)
Citation 3

Abstract:

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Stock liquidity, Debt issuance, Equity issuance, Capital structure

Online Appendix to 'Liquidity, Information Production, and Debt-Equity Choice'

Number of pages: 30 Posted: 03 Mar 2020 Last Revised: 06 Jan 2021
William M. Cheung, Hyun Joong Im and Thomas H. Noe
University of Macau, Peking University - HSBC Business School and University of Oxford - Said Business School
Downloads 26 (570,588)

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Stock liquidity, Debt issuance, Equity issuance, Capital structure

8.

The Effect of Technological Imitation on Corporate Innovation: Evidence from US Patent Data

Research Policy, Vol. 48 (2019), 103802
Number of pages: 66 Posted: 09 Jan 2017 Last Revised: 08 Aug 2019
Hyun Joong Im and Janghoon Shon
Peking University - HSBC Business School and Hong Kong University of Science & Technology (HKUST) - Department of Finance
Downloads 142 (234,177)
Citation 2

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Corporate Innovation, Technological Imitation, Value of Innovation

9.

Sticky Dividends: A New Explanation

Finance Research Letters, 23, 2017, pp. 69-79
Number of pages: 23 Posted: 24 Feb 2017 Last Revised: 05 Oct 2018
Chang Y. Ha, Hyun Joong Im and Ya Kang
Peking University - HSBC School of Business, Peking University - HSBC Business School and National University of Singapore (NUS)
Downloads 141 (236,884)
Citation 1

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Payout policy, Speed of adjustment, Dividend dynamics, Adaptive expectations

10.

Asymmetric Peer Effects in Capital Structure Dynamics

Economics Letters, Vol. 176, 2019, pp. 17-22
Number of pages: 16 Posted: 02 Aug 2015 Last Revised: 31 Dec 2018
Hyun Joong Im
Peking University - HSBC Business School
Downloads 100 (302,785)

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Peer Effects, Capital Structure, Speed of Adjustment, Leverage Adjustments

11.

Stock Liquidity and the Under-investment Problem: A Quasi-natural Experiment in China

Western Economic Association International (WEAI), 2019; Asian Meeting of Econometric Society (AMES), 2019; PKUā€“NUS Annual Conference, 2019; SFM 2018; AFBC 2018; CAFM 2018
Number of pages: 59 Posted: 07 Mar 2019 Last Revised: 27 Jul 2020
University of Macau, University of Queensland, Peking University - HSBC Business School and Peking University - HSBC Business School
Downloads 89 (326,203)

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Stock liquidity, Investment efficiency, Underinvestment, Institutional ownership, Information efficiency, Corporate governance

12.

Transient Institutional Ownership, Costly External Finance, and Corporate Cash Holdings

Number of pages: 53 Posted: 12 Feb 2020 Last Revised: 31 Aug 2020
Peking University - HSBC Business School, Sungkyunkwan University - SKK Business School, Curtin University and University of Queensland
Downloads 69 (378,083)

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Transient Institutional Ownership, Cash Holdings, Debt-Holder-Shareholder Conflicts, Stock Price Crash Risk

13.

Focus on Fewer but Better Patents when Stock Is Liquid

Number of pages: 40 Posted: 24 Feb 2020 Last Revised: 04 Jan 2021
Peking University - HSBC Business School, Peking University - HSBC Business School and University of Queensland - Business School
Downloads 67 (384,089)

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value of innovation, liquidity, feedback mechanism, institutional monitoring

14.

How Does Uncertainty Influence Target Capital Structure?

Journal of Corporate Finance, Vol. 64 (2020), 101642
Number of pages: 65 Posted: 12 Dec 2018 Last Revised: 01 Jul 2020
Hyun Joong Im, Ya Kang and Janghoon Shon
Peking University - HSBC Business School, National University of Singapore (NUS) and Hong Kong University of Science & Technology (HKUST) - Department of Finance
Downloads 54 (426,999)

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Uncertainty, Target Leverage, Capital Structure, Asset Volatility

15.

Lumpy Investment and Expected Stock Returns

Economics Letters, Vol. 193 (2020), 109263
Number of pages: 16 Posted: 23 Jun 2020 Last Revised: 17 Jul 2020
Hyun Joong Im and Heungju Park
Peking University - HSBC Business School and Sungkyunkwan University - SKK Business School
Downloads 48 (449,428)

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lumpy investment, investment spike, stock return predictability, time-varying risk premium

16.

Dividend Taxes and Investment Efficiency: Evidence from the 2003 U.S. Personal Taxation Reform

Number of pages: 56 Posted: 04 Jun 2020 Last Revised: 15 Jan 2021
Sungkyunkwan University (SKKU), College of Business Administration, Univ of Seoul and Peking University - HSBC Business School
Downloads 42 (474,136)

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Dividend Taxation, Investment Efficiency, Financial Constraints, Free Cash Flows

17.

Stock Liquidity and the Complementarity between External Financing and Cash Holdings

Number of pages: 15 Posted: 14 Jul 2020 Last Revised: 31 Dec 2020
Hyun Joong Im and Heungju Park
Peking University - HSBC Business School and Sungkyunkwan University - SKK Business School
Downloads 29 (537,022)

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Stock Liquidity, Cash Holdings, Investment Opportunities, External Financing Costs

18.

The Effect of Business Group Affiliation on Trade Credit Financing: An Empirical Analysis of Public Firms in Korea

Number of pages: 45 Posted: 02 Jul 2020 Last Revised: 19 Nov 2020
Byung-Uk Chong and Hyun Joong Im
College of Business Administration, Univ of Seoul and Peking University - HSBC Business School
Downloads 28 (542,779)

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Short-Term Debt Financing, Trade Credit, Business Group Affiliation, Financial Constraints, Bargaining Power