Karin S. Thorburn

Norwegian School of Economics

Research Chair Professor of Finance

Helleveien 30

N-5045 Bergen

Norway

http://www.nhh.no/cv/thorburn

Centre for Economic Policy Research (CEPR)

Research Affiliate

77 Bastwick Street

London, EC1V 3PZ

United Kingdom

European Corporate Governance Institute (ECGI)

Research Associate

c/o ECARES ULB CP 114

B-1050 Brussels

Belgium

http://www.ecgi.org

View CV
SCHOLARLY PAPERS

25

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24,097

CITATIONS
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Top 1,473

in Total Papers Citations

381

Scholarly Papers (25)

1.

Corporate Takeovers

HANDBOOK OF CORPORATE FINANCE: EMPIRICAL CORPORATE FINANCE, Vol. 2, Chapter 15, pp. 291-430, B. E., Eckbo, ed., Elsevier/North-Holland Handbook of Finance Series, 2008, Tuck School of Business Working Paper No. 2008-47
Number of pages: 172 Posted: 12 May 2008 Last Revised: 15 Jan 2009
Sandra Betton, B. Espen Eckbo and Karin S. Thorburn
Concordia University, Quebec - Department of Finance, Tuck School of Business at Dartmouth and Norwegian School of Economics
Downloads 4,015 (946)
Citation 61

Abstract:

Takeover, merger, tender offer, auction, offer premium, bidder gains, toeholds, markups

2.

Bankruptcy and the Resolution of Financial Distress

Number of pages: 89 Posted: 24 Jan 2008
Boston College - Carroll School of Management, New York University (NYU) - Department of Finance, Norwegian School of Economics and Northeastern University, D’Amore-McKim School of Business, Finance Area
Downloads 3,604 (1,551)
Citation 33

Abstract:

Bankruptcy, financial distress, bankruptcy costs, fire-sales, bankruptcy auctions, reorganizations, Chapter 11

3.

Corporate Restructuring: Breakups and LBOs

HANDBOOK OF CORPORATE FINANCE: EMPIRICAL CORPORATE FINANCE, Vol. 2, Chapter 16, pp. 431-496, B. E. Eckbo, ed., Elsevier/North-Holland Handbook of Finance Series, 2008, Tuck School of Business Working Paper No. 2008-49
Number of pages: 86 Posted: 15 May 2008 Last Revised: 23 Feb 2011
B. Espen Eckbo and Karin S. Thorburn
Tuck School of Business at Dartmouth and Norwegian School of Economics
Downloads 2,208 (4,752)
Citation 12

Abstract:

Restructuring, breakup, divestiture, spinoff, equity carveout, tracking stock, leveraged

4.

Creditor Financing and Overbidding in Bankruptcy Auctions: Theory and Tests

Journal of Corporate Finance, Vol. 15, pp. 10-29, 2009, Tuck School of Business Working Paper No. 2004-13
Number of pages: 48 Posted: 17 Dec 2004 Last Revised: 06 Jun 2013
B. Espen Eckbo and Karin S. Thorburn
Tuck School of Business at Dartmouth and Norwegian School of Economics
Downloads 1,095 (15,173)
Citation 2

Abstract:

Bankruptcy, auctions, overbidding, fire sale, saleback, governance, premiums, recovery rates, bank bidding

How Costly Is Forced Gender-Balancing of Corporate Boards?

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 463/2016, Tuck School of Business Working Paper No. 2746786
Number of pages: 45 Posted: 14 Mar 2016 Last Revised: 27 Dec 2016
B. Espen Eckbo, Knut Nygaard and Karin S. Thorburn
Tuck School of Business at Dartmouth, Oslo Business School at Oslo and Akershus University College of Applied Sciences (HiOA) and Norwegian School of Economics
Downloads 936 (18,846)

Abstract:

Gender quota, director independence, valuation effect, long-run performance, corporate conversion, busy directors, director network power

Does Gender-Balancing the Board Reduce Firm Value?

CEPR Discussion Paper No. DP11176
Number of pages: 58 Posted: 18 Apr 2016
B. Espen Eckbo, Knut Nygaard and Karin S. Thorburn
Tuck School of Business at Dartmouth, Oslo Business School at Oslo and Akershus University College of Applied Sciences (HiOA) and Norwegian School of Economics
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Abstract:

;ong-run performance, busy directors, corporate conversion, director independence, director network power, Gender quota, valuation effect

6.
Downloads 930 ( 19,408)
Citation 4

How Costly Is Corporate Bankruptcy for the CEO?

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 47 Posted: 31 Aug 2012 Last Revised: 12 Feb 2016
B. Espen Eckbo, Karin S. Thorburn and Wei Wang
Tuck School of Business at Dartmouth, Norwegian School of Economics and Queen's School of Business
Downloads 928 (19,100)
Citation 4

Abstract:

labor market capital, personal bankruptcy costs, turnover, career change, CEO compensation, wealth loss

How Costly is Corporate Bankruptcy for the CEO?

CEPR Discussion Paper No. DP10985
Number of pages: 44 Posted: 16 Dec 2015
B. Espen Eckbo, Karin S. Thorburn and Wei Wang
Tuck School of Business at Dartmouth, Norwegian School of Economics and Queen's School of Business
Downloads 2 (568,238)
Citation 4
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Abstract:

career change, CEO compensation, labor market capital, personal bankruptcy costs, turnover, wealth loss

7.
Downloads 738 ( 27,136)
Citation 1

Are Stock-Financed Takeovers Opportunistic?

Journal of Financial Economics (JFE), Forthcoming, ECGI - Finance Working Paper No. 393/2013, Tuck School of Business Working Paper No. 2013-121
Number of pages: 54 Posted: 21 Nov 2013 Last Revised: 18 Apr 2017
B. Espen Eckbo, Tanakorn Makaew and Karin S. Thorburn
Tuck School of Business at Dartmouth, Securities and Exchange Commission (SEC) and Norwegian School of Economics
Downloads 738 (26,704)
Citation 1

Abstract:

Takeovers, payment method, mispricing, capital structure, industry relatedness, geographic location

Are Stock-Financed Takeovers Opportunistic?

CEPR Discussion Paper No. DP11974
Number of pages: 51 Posted: 25 Apr 2017
B. Espen Eckbo, Tanakorn Makaew and Karin S. Thorburn
Tuck School of Business at Dartmouth, Securities and Exchange Commission (SEC) and Norwegian School of Economics
Downloads 0
Citation 1
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Abstract:

cash payment, governance, information asymmetry, mispricing, mutual fund flow, opportunism, payment method, stock payment, Takeover bidding

8.

Corporate Restructuring

Foundations and Trends in Finance, Forthcoming
Number of pages: 109 Posted: 02 Jun 2013
B. Espen Eckbo and Karin S. Thorburn
Tuck School of Business at Dartmouth and Norwegian School of Economics
Downloads 682 (15,800)

Abstract:

Restructuring, LBO, divestiture, spinoff, carveout

9.

Merger Negotiations with Stock Market Feedback

Journal of Finance, Forthcoming, ECGI - Finance Working Paper No. 392/2013, Tuck School of Business Working Paper No. 2011-94
Number of pages: 63 Posted: 10 May 2011 Last Revised: 06 Dec 2013
Sandra Betton, B. Espen Eckbo, Rex Thompson and Karin S. Thorburn
Concordia University, Quebec - Department of Finance, Tuck School of Business at Dartmouth, Southern Methodist University (SMU) - Edwin L. Cox School of Business and Norwegian School of Economics
Downloads 673 (30,837)
Citation 5

Abstract:

Merger negotiations, market feedback loop, takeover bid, offer price markup, target runup, rational bidding, market efficiency, nonlinear test

10.

Governance in Financial Distress and Bankruptcy

Oxford Handbook of Corporate Governance, Forthcoming, Northwestern Public Law Research Paper No. 12-37
Number of pages: 44 Posted: 16 Nov 2012 Last Revised: 29 Dec 2012
Kenneth Ayotte, Edith S. Hotchkiss and Karin S. Thorburn
University of California, Berkeley - School of Law, Boston College - Carroll School of Management and Norwegian School of Economics
Downloads 599 (17,739)
Citation 6

Abstract:

bankruptcy, reorganization, corporate finance, corporate governance, Chapter 11

11.
Downloads 598 ( 36,143)
Citation 1

Public Information and IPO Underpricing

24th Australasian Finance and Banking Conference 2011 Paper, ECGI - Finance Working Paper No. 322/2011
Number of pages: 50 Posted: 14 Aug 2010 Last Revised: 12 Jan 2012
Einar Bakke, Tore E. Leite and Karin S. Thorburn
Norwegian School of Economics (NHH), Norwegian School of Economics (NHH) and Norwegian School of Economics
Downloads 368 (65,610)
Citation 1

Abstract:

public information, partial adjustment, underpricing, IPOs, bookbuilding

Public Information and IPO Initial Returns: Theory and Tests

Number of pages: 42 Posted: 18 Mar 2011 Last Revised: 10 May 2015
Einar Bakke, Tore E. Leite and Karin S. Thorburn
Norwegian School of Economics (NHH), Norwegian School of Economics (NHH) and Norwegian School of Economics
Downloads 230 (110,697)
Citation 1

Abstract:

IPO, underpricing, bookbuilding, public information, private information, partial adjustment

12.

Bankruptcy Auctions: CEO Turnover, Compensation Changes and Firm Performance

Number of pages: 36 Posted: 28 Dec 1998
Karin S. Thorburn
Norwegian School of Economics
Downloads 514 (42,916)
Citation 1

Abstract:

Voluntary Corporate Environmental Initiatives and Shareholder Wealth

Number of pages: 51 Posted: 20 Jun 2010
Karen Fisher-Vanden and Karin S. Thorburn
Dartmouth College and Norwegian School of Economics
Downloads 238 (106,940)
Citation 8

Abstract:

Corporate social responsibility, Environmentally responsible investing, Climate change, Greenhouse gas emissions, Capital expenditures, Shareholder wealth

Voluntary Corporate Environmental Initiatives and Shareholder Wealth

CEPR Discussion Paper No. DP6698
Number of pages: 42 Posted: 09 Jun 2008
Karen Fisher-Vanden and Karin S. Thorburn
Dartmouth College and Norwegian School of Economics
Downloads 237 (107,400)
Citation 8
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Abstract:

capital expenditures, climate change, corporate social responsibility, environmentally responsible investing, shareholder wealth

14.

Penalty-Free Prepayments, Credit Rationing, and the Use of Upfront Fees in Bank Loans

Number of pages: 45 Posted: 26 Nov 2011 Last Revised: 29 Mar 2013
B. Espen Eckbo, Xunhua Su and Karin S. Thorburn
Tuck School of Business at Dartmouth, Norwegian School of Economics and Norwegian School of Economics
Downloads 290 (86,966)

Abstract:

credit rationing, upfront fee, borrower risk, performance-pricing, security, collateral

Control Benefits and CEO Discipline in Automatic Bankruptcy Auctions

Journal of Financial Economics (JFE), Vol. 69, pp. 227-258, 2003, Tuck School of Business Working Paper No. 02-16
Number of pages: 43 Posted: 15 Jul 2002 Last Revised: 27 Oct 2008
B. Espen Eckbo and Karin S. Thorburn
Tuck School of Business at Dartmouth and Norwegian School of Economics
Downloads 261 (97,018)
Citation 20

Abstract:

CEO Turnover, Executive Compensation, Private Benefits of Control, Risk-shifting Incentives, Bankruptcy, Post-bankruptcy Performance

Control Benefits and CEO Discipline in Automatic Bankruptcy Auctions

CEPR Discussion Paper No. 3481
Number of pages: 38 Posted: 04 Nov 2002
B. Espen Eckbo and Karin S. Thorburn
Tuck School of Business at Dartmouth and Norwegian School of Economics
Downloads 25 (436,069)
Citation 20
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Abstract:

Post-bankruptcy performance, CEO turnover, bankruptcy, executive compensation, private benefits of control, risk-shifting incentives

16.

Auction Bankruptcy and the CEO

Presented at Tuck-JFE Contemporary Corporate Governance Conference
Number of pages: 38 Posted: 23 Jul 2000
Karin S. Thorburn
Norwegian School of Economics
Downloads 273 (90,775)

Abstract:

Bankruptcy auctions, CEO turnover, executive

17.

Partial Adjustment to Public Information in the Pricing of IPOs

Journal of Financial Intermediation, Forthcoming
Number of pages: 41 Posted: 15 Mar 2012 Last Revised: 20 Sep 2016
Einar Bakke, Tore E. Leite and Karin S. Thorburn
Norwegian School of Economics (NHH), Norwegian School of Economics (NHH) and Norwegian School of Economics
Downloads 251 (72,641)

Abstract:

IPO, underpricing, bookbuilding, public information, partial adjustment

18.

Economic Effects of Auction Bankruptcy

Tuck School of Business Working Paper No. 2009-63
Number of pages: 35 Posted: 16 Apr 2009 Last Revised: 27 Apr 2009
B. Espen Eckbo and Karin S. Thorburn
Tuck School of Business at Dartmouth and Norwegian School of Economics
Downloads 246 (94,825)

Abstract:

Bankruptcy, auction, reorganization, liquidation, risk-shifting, asset substitution, fire-sale, bankruptcy costs

19.

Automatic Bankruptcy Auctions and Fire-Sales

Journal of Financial Economics (JFE), Vol. 89, pp. 404-422, 2008, Tuck School of Business Working Paper No. 2007-36
Number of pages: 45 Posted: 17 Jan 2009 Last Revised: 07 May 2009
B. Espen Eckbo and Karin S. Thorburn
Tuck School of Business at Dartmouth and Norwegian School of Economics
Downloads 175 (125,027)
Citation 15

Abstract:

Bankruptcy, auction, going-concern sale, piecemeal liquidation, fire-sale

20.

The Toehold Puzzle

CEPR Discussion Paper No. 5084
Number of pages: 52 Posted: 12 Oct 2005
Sandra Betton, Karin S. Thorburn and B. Espen Eckbo
Concordia University, Quebec - Department of Finance, Norwegian School of Economics and Tuck School of Business at Dartmouth
Downloads 25 (423,558)
Citation 42
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Abstract:

21.

Bankruptcy Auctions: Costs, Debt Recovery, and Firm Survival

Posted: 11 Jul 1999
Karin S. Thorburn
Norwegian School of Economics

Abstract:

22.

Markup Pricing Revisited

Tuck School of Business Working Paper No. 2008-45
Number of pages: 37 Posted: 17 Mar 2008 Last Revised: 25 Jun 2009
Sandra Betton, B. Espen Eckbo and Karin S. Thorburn
Concordia University, Quebec - Department of Finance, Tuck School of Business at Dartmouth and Norwegian School of Economics
Downloads 0
Citation 21

Abstract:

Bidder returns, target runup, takeover, markup pricing, toehold bidding

23.

Merger Negotiations and the Toehold Puzzle

Tuck School of Business Working Paper No. 2005-16, ECGI - Finance Working Paper No. 85/2005, EFA 2006 Zurich Meetings, Journal of Financial Economics, Forthcoming
Number of pages: 48 Posted: 26 May 2005 Last Revised: 20 Oct 2008
Sandra Betton, B. Espen Eckbo and Karin S. Thorburn
Concordia University, Quebec - Department of Finance, Tuck School of Business at Dartmouth and Norwegian School of Economics
Downloads 0
Citation 40

Abstract:

Bidding strategy, tender offer, merger, toehold, termination fee, bid failure

24.

Gains to Bidder Firms Revisited: Domestic and Foreign Acquisitions in Canada

Amos Tuck School of Business Working Paper No. 00-04
Number of pages: 39 Posted: 13 Dec 2000 Last Revised: 23 Nov 2015
B. Espen Eckbo and Karin S. Thorburn
Tuck School of Business at Dartmouth and Norwegian School of Economics
Downloads 0
Citation 52

Abstract:

25.

Gains to Bidder Firms Revisited: Domestic and Foreign Acquisitions in Canada

Journal of Financial and Quantitative Analysis, Vol. 35, No. 1, 2000
Number of pages: 37 Posted: 16 Dec 1999 Last Revised: 01 Jan 2016
B. Espen Eckbo and Karin S. Thorburn
Tuck School of Business at Dartmouth and Norwegian School of Economics
Downloads 0
Citation 52

Abstract: