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Hyun Joong Im

The University of Seoul

Professor of Finance

163 Seoulsiripdae-ro

Dongdaemun-gu

Seoul, 02504

Korea, Republic of (South Korea)

  • The University of Seoul

    • Email
    • Tel: +82-2-6490-2268
    • Fax: +82-2-6490-2219
SCHOLARLY PAPERS

19

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5,084

TOTAL CITATIONS
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Top 20,956

in Total Papers Citations

47

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 (e.g. business taxation and fiscal policies).  ”

  • The University of Seoul

    • Email
    • Tel: +82-2-6490-2268
    • Fax: +82-2-6490-2219

Scholarly Papers (19)

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1.

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

International Review of Financial Analysis, 2021, Volume 77, Article 101834
Number of pages: 45 Posted: 09 Jan 2016 Last Revised: 20 Jul 2021
Hyun Joong Im, Jia Liu and Young Joon Park
The University of Seoul, University of Salford and Peking University - HSBC School of Business
Downloads 671 (97,378)
Citation 5

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

2.

Liquidity, Information Production, and Corporate Financing Decisions

Journal of Business Finance and Accounting, Volume 53, Issue 1, February 2026, pp. 487-524
Number of pages: 73 Posted: 29 Jul 2019 Last Revised: 08 Apr 2026
Hyun Joong Im, Thomas H. Noe and William M. Cheung
The University of Seoul, University of Oxford - Said Business School and Waseda University
Downloads 570 (120,838)
Citation 3

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Stock liquidity, Corporate financing decisions, Debt financing, Information asymmetry, Common uncertainty, Default risk, Cost of capital, Tick-size reforms

3.

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
The University of Seoul, University of Oxford - Said Business School and European Corporate Governance Institute (ECGI)
Downloads 434 (168,427)

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Capital Structure, Corporate Finance, Lumpy Investment, Investment Spikes

4.

Uncertainty, Investment Spikes, and Corporate Leverage Adjustments

Journal of Banking and Finance, Vol. 145, 106649, 2022
Number of pages: 53 Posted: 15 Feb 2016 Last Revised: 21 Aug 2023
Hyun Joong Im, Robert W. Faff and Chang Y. Ha
The University of Seoul, Corvinus University Budapest and Peking University - HSBC School of Business
Downloads 374 (200,118)
Citation 5

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Capital Structure, Uncertainty, Investment Spikes, Adjustment Speeds

5.

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

Journal of Accounting and Economics, Volume 75, No. 1, 101514, 2023
Number of pages: 53 Posted: 04 Jun 2020 Last Revised: 06 Sep 2023
J.B. (Jong-Bom) Chay, Byung-Uk Chong and Hyun Joong Im
Sungkyunkwan University (SKKU), College of Business Administration, Univ of Seoul and The University of Seoul
Downloads 340 (225,014)

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

6.

Stock Liquidity and Investment Efficiency: Evidence from the Split-Share Structure Reform in China

Emerging Markets Review, Vol. 56, 101046, 2023
Number of pages: 53 Posted: 18 Nov 2021 Last Revised: 21 Aug 2023
William M. Cheung, Hyun Joong Im and Srinivasan Selvam
Waseda University, The University of Seoul and EDHEC Business School - EDHEC Infrastructure Institute
Downloads 306 (252,268)
Citation 3

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

7.

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
The University of Seoul and UNSW Business School
Downloads 301 (252,268)
Citation 7

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Corporate Innovation, Technological Imitation, Value of Innovation

8.

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
The University of Seoul, Sungkyunkwan University - SKK Business School and Peking University - HSBC School of Business
Downloads 275 (276,257)
Citation 12

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

9.

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

Journal of Business Finance & Accounting, Volume 52, Issue 2 [10.1111/jbfa.12840]
Number of pages: 54 Posted: 12 Feb 2020 Last Revised: 08 Jun 2025
Hyun Joong Im, Heungju Park, Shams Pathan and Robert W. Faff
The University of Seoul, Sungkyunkwan University - SKK Business School, The German International University and Corvinus University Budapest
Downloads 264 (293,053)
Citation 1

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transient institutional ownership, cash holdings, debtholder-shareholder conflicts, stock price crash risk

10.

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
The University of Seoul, Peking University - HSBC School of Business and UNSW Business School
Downloads 258 (297,664)
Citation 7

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

11.

The Effect of Stock Liquidity on Corporate Cash Holdings: The Real Investment Motive

International Review of Finance, Vol. 22, Issue 3, pp. 580-596, 2022
Number of pages: 20 Posted: 14 Jul 2020 Last Revised: 21 Aug 2023
Hyun Joong Im, Barry R. Oliver and Heungju Park
The University of Seoul, University of Queensland - Business School and Sungkyunkwan University - SKK Business School
Downloads 232 (336,244)

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stock liquidity, cash holdings, investment opportunities, external financing costs

12.

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
The University of Seoul
Downloads 221 (349,796)

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

13.

Effect of Stock Liquidity on the Economic Value of Patents: Evidence from U.S. Patent Data

International Review of Financial Analysis, Volume 94, Article 103314, July 2024
Number of pages: 49 Posted: 24 Feb 2020 Last Revised: 18 Sep 2024
Hyun Joong Im, Srinivasan Selvam and Kelvin Jui Keng Tan
The University of Seoul, EDHEC Business School - EDHEC Infrastructure Institute and University of Queensland - Business School
Downloads 214 (357,858)

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value of innovation, liquidity, feedback mechanism, institutional monitoring

14.

The Effect of Affiliation with a Large Business Group on Trade Credit Finance: An Empirical Analysis of Chaebol Firms in Korea

Journal of Business Finance and Accounting, Volume 51, Issue 7-8, pp. 1828-1857, July-August 2024
Number of pages: 40 Posted: 02 Jul 2020 Last Revised: 18 Sep 2024
Byung-Uk Chong and Hyun Joong Im
College of Business Administration, Univ of Seoul and The University of Seoul
Downloads 178 (428,796)

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trade credit, group affiliation, internal capital market, bargaining power, financial health

15.

Heterogeneous Effects of Public Listing on the Usage of Trade Credit: Evidence from Korean Chaebol versus Non-chaebol Firms

Research in International Business and Finance, volume 76, 2025[10.1016/j.ribaf.2025.102799]
Number of pages: 28 Posted: 22 Jul 2023 Last Revised: 26 Feb 2025
Hyun Joong Im, Inji Jung and Jiyeon Kim
The University of Seoul, The University of Seoul and University of Seoul
Downloads 123 (584,619)

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Trade credit, Public listing, Group affiliation, Financial constraints, Internal capital markets

16.

Unified Government and the Value of Cash Holdings

Finance Research Letters, Vol. 58 (Part B), 104546, 2023
Number of pages: 20 Posted: 20 Aug 2023 Last Revised: 18 Feb 2026
Hyun Joong Im, Jiyeon Kim and Dean Ryu
The University of Seoul, University of Seoul and Said Business School, University of Oxford
Downloads 114 (621,896)
Citation 2

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Unified Government, Divided Government, Value of Cash Holdings, Investment Opportunities, Investment Efficiency, Under-investment Reduction

17.

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
The University of Seoul and Sungkyunkwan University - SKK Business School
Downloads 106 (674,591)

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

18.

Intangible liabilities and trade credit: Evidence from 10-K disclosures

Number of pages: 15 Posted: 09 Mar 2026 Last Revised: 24 Jul 2026
Mostafa Monzur Hasan and Hyun Joong Im
Macquarie University - Department of Accounting and Corporate Governance and The University of Seoul
Downloads 55 (1,121,190)

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Intangible liabilities, Trade credit, Textual analysis, Financing constraints, Disclosure, Corporate financing

19.

Access to Public Capital Markets and the Extension of Trade Credit: An Empirical Analysis of Korean Public and Private Firms

Finance Research Letters, Vol. 46 (Part B), 102484, 2022
Number of pages: 15 Posted: 14 Sep 2021 Last Revised: 21 Aug 2023
Hyun Joong Im and Byung-Uk Chong
The University of Seoul and College of Business Administration, Univ of Seoul
Downloads 48 (1,097,529)
Citation 2

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business group, public capital market, trade credit, public listing