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

London

United Kingdom

European Corporate Governance Institute (ECGI)

Research Associate

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

http://www.ecgi.org

  • Norwegian School of Economics

SCHOLARLY PAPERS

31

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36,844

SSRN CITATIONS
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Top 2,302

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455

CROSSREF CITATIONS

257

Scholarly Papers (31)

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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: 03 Sep 2019
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 8,848 (1,192)
Citation 17

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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
Edith S. Hotchkiss, Kose John, Karin S. Thorburn and Robert M. Mooradian
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 4,941 (3,259)
Citation 16

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

3.

Valuation Effects of Norway’s Board Gender-Quota Law Revisited

Downloads 3,145 ( 6,948)
Citation 39

Valuation Effects of Norway’s Board Gender-Quota Law Revisited

Management Science, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 463/2016
Number of pages: 49 Posted: 14 Mar 2016 Last Revised: 06 Feb 2022
B. Espen Eckbo, Knut Nygaard and Karin S. Thorburn
Tuck School of Business at Dartmouth, Oslo Business School at Oslo Metropolitan University and Norwegian School of Economics
Downloads 3,142 (6,838)
Citation 10

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gender quota; board diversity; valuation effect; return correlation; long-run performance

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 Metropolitan University and Norwegian School of Economics
Downloads 3 (1,079,664)
Citation 2
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;ong-run performance, busy directors, corporate conversion, director independence, director network power, Gender quota, valuation effect

4.

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 2,668 (8,902)
Citation 1

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

5.

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 2,003 (14,142)

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Restructuring, LBO, divestiture, spinoff, carveout

6.

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 1,894 (15,425)

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

7.

Merger Negotiations and the Toehold Puzzle

Tuck School of Business Working Paper No. 2005-16, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 85/2005, EFA 2006 Zurich Meetings, Journal of Financial Economics, Forthcoming
Number of pages: 54 Posted: 26 May 2005 Last Revised: 09 Nov 2018
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 1,459
Citation 50

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

8.

How Costly Is Corporate Bankruptcy for the CEO?

Downloads 1,288 (27,745)
Citation 49

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 University - Smith School of Business
Downloads 1,285 (27,377)
Citation 12

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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 University - Smith School of Business
Downloads 3 (1,079,664)
Citation 18
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career change, CEO compensation, labor market capital, personal bankruptcy costs, turnover, wealth loss

9.

Markup Pricing Revisited

Tuck School of Business Working Paper No. 2008-45, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 199
Number of pages: 43 Posted: 17 Mar 2008 Last Revised: 09 Nov 2018
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 1,182
Citation 33

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

10.

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, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 68/2005
Number of pages: 54 Posted: 17 Dec 2004 Last Revised: 09 Nov 2018
B. Espen Eckbo and Karin S. Thorburn
Tuck School of Business at Dartmouth and Norwegian School of Economics
Downloads 1,170 (31,948)
Citation 8

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

11.

Are Stock-Financed Takeovers Opportunistic?

Downloads 1,165 (32,135)
Citation 42

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, University of Southern California and Norwegian School of Economics
Downloads 1,165 (31,647)
Citation 9

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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, University of Southern California and Norwegian School of Economics
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Citation 12
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cash payment, governance, information asymmetry, mispricing, mutual fund flow, opportunism, payment method, stock payment, Takeover bidding

12.

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, affiliation not provided to SSRN and Norwegian School of Economics
Downloads 890 (46,938)
Citation 21

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

13.

Public Information and IPO Underpricing

Downloads 716 (63,094)
Citation 1

Public Information and IPO Underpricing

24th Australasian Finance and Banking Conference 2011 Paper, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 322/2011
Number of pages: 50 Posted: 14 Aug 2010 Last Revised: 09 Nov 2018
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 437 (114,991)
Citation 1

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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 279 (188,127)

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

14.

Voluntary Corporate Environmental Initiatives and Shareholder Wealth

Downloads 604 (78,066)
Citation 48

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 367 (140,331)
Citation 6

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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 (221,578)
Citation 18
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capital expenditures, climate change, corporate social responsibility, environmentally responsible investing, shareholder wealth

15.

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 557 (86,426)
Citation 1

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16.

Bank Compensation for the Penalty-Free Loan-Prepayment Option: Theory and Tests

Downloads 526 (92,827)

Bank Compensation for the Penalty-Free Loan-Prepayment Option: Theory and Tests

Tuck School of Business Working Paper No. 1964843, European Corporate Governance Institute – Finance Working Paper No. 770/2021
Number of pages: 54 Posted: 26 Nov 2011 Last Revised: 25 Sep 2022
B. Espen Eckbo, Xunhua Su and Karin S. Thorburn
Tuck School of Business at Dartmouth, Norwegian School of Economics (NHH) and Norwegian School of Economics
Downloads 526 (91,800)

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bank loans, prepayment, credit rationing, upfront fee, performance-pricing

Bank Compensation for Penalty-Free Loan Prepayment: Theory and Tests

CEPR Discussion Paper No. DP16300
Number of pages: 47 Posted: 14 Jul 2021
B. Espen Eckbo, Xunhua Su and Karin S. Thorburn
Tuck School of Business at Dartmouth, Norwegian School of Economics (NHH) and Norwegian School of Economics
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17.

Does Mandatory Board Gender-Balancing Reduce Firm Value?

Tuck School of Business Working Paper No. 4039292, European Corporate Governance Institute - Law Working Paper No. 629/2022
Number of pages: 41 Posted: 24 Feb 2022 Last Revised: 02 Mar 2022
B. Espen Eckbo, Knut Nygaard and Karin S. Thorburn
Tuck School of Business at Dartmouth, Oslo Business School at Oslo Metropolitan University and Norwegian School of Economics
Downloads 493 (100,437)

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Gender quota; board diversity; valuation effect; return correlation; long-run performance, operating performance, legal conversion

18.

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 455
Citation 18

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19.

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 416 (122,772)

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IPO, underpricing, bookbuilding, public information, partial adjustment

20.

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 368 (141,011)
Citation 4

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

21.

Control Benefits and CEO Discipline in Automatic Bankruptcy Auctions

Downloads 326 (160,778)
Citation 34

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 301 (173,750)
Citation 2

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

Control Benefits and CEO Discipline in Automatic Bankruptcy Auctions

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 (865,772)
Citation 4
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Post-bankruptcy performance, CEO turnover, bankruptcy, executive compensation, private benefits of control, risk-shifting incentives

22.

Strategic Decisions in Takeover Auctions

Tuck School of Business Working Paper No. 3474091 (2019), Annual Review of Financial Economics, forthcoming
Number of pages: 59 Posted: 24 Oct 2019 Last Revised: 24 Aug 2020
B. Espen Eckbo, Andrey Malenko and Karin S. Thorburn
Tuck School of Business at Dartmouth, Boston College and Norwegian School of Economics
Downloads 325 (161,307)
Citation 3

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takeover initiation, auction, negotiation, optimal bidding, payment method, competition premption, bidder opportunism

23.

Auction Bankruptcy and the CEO

Number of pages: 38 Posted: 23 Jul 2000
Karin S. Thorburn
Norwegian School of Economics
Downloads 302 (174,237)
Citation 1

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Bankruptcy auctions, CEO turnover, executive

24.

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 277 (190,533)
Citation 8

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

25.

The Changing Face of Chapter 11 Bankruptcy: Insights from Recent Trends and Research

Downloads 259 (203,899)

The Changing Face of Chapter 11 Bankruptcy: Insights from Recent Trends and Research

Annual Review of Financial Economics, Vol. 15, pp. 351-367, 2023
Posted: 07 Nov 2023
Edith S. Hotchkiss, Karin S. Thorburn and Wei Wang
Boston College - Carroll School of Management, Norwegian School of Economics and Queen's University - Smith School of Business

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The Changing Face of Chapter 11 Bankruptcy: Insights from Recent Trends and Research

Number of pages: 34 Posted: 29 Nov 2022
Edith S. Hotchkiss, Karin S. Thorburn and Wei Wang
Boston College - Carroll School of Management, Norwegian School of Economics and Queen's University - Smith School of Business
Downloads 259 (202,952)

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Bankruptcy, Chapter 11, Defaults, Distressed Debt, Recovery Rate, 363 Sales, Private Equity, Creditor Rights, Leveraged Loans

26.

Fund Ownership, Wealth, and Risk Taking: Evidence on Private Equity Managers

Downloads 244 (216,153)
Citation 1

Fund Ownership, Wealth, and Risk Taking: Evidence on Private Equity Managers

SAFE Working Paper No. 126
Number of pages: 43 Posted: 02 Aug 2019 Last Revised: 23 Mar 2021
Carsten Bienz, Karin S. Thorburn and Uwe Walz
Norwegian School of Economics (NHH), Norwegian School of Economics and Goethe University Frankfurt - Institute of Economics
Downloads 188 (275,188)

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Private equity, incentives, fund manager, ownership, risk taking, wealth

Fund Ownership, Wealth, and Risk-Taking: Evidence on Private-Equity Managers

Number of pages: 41 Posted: 23 May 2022
Carsten Bienz, Karin S. Thorburn and Uwe Walz
Norwegian School of Economics (NHH), Norwegian School of Economics and Goethe University Frankfurt - Institute of Economics
Downloads 55 (645,702)
Citation 1

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Private equity, incentives, fund manager, ownership, risk-taking, wealth

Ownership, Wealth, and Risk Taking: Evidence on Private Equity Fund Managers

CEPR Discussion Paper No. DP13944
Number of pages: 36 Posted: 07 Oct 2019
Carsten Bienz, Karin S. Thorburn and Uwe Walz
Norwegian School of Economics (NHH), Norwegian School of Economics and Goethe University Frankfurt - Institute of Economics
Downloads 1 (1,096,556)
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buyouts, general partner, incentives, ownership, private equity, Risk Taking, Wealth

27.

Labor Market Agglomeration and Employee-Retention Policies

Number of pages: 62 Posted: 16 Jan 2020 Last Revised: 02 Aug 2022
Kose John, Kyeong Hun Lee, Karin S. Thorburn and Emma Xu
New York University (NYU) - Department of Finance, University of Alabama - Department of Economics, Finance and Legal Studies, Norwegian School of Economics and University of New Mexico - Robert O. Anderson Schools of Management
Downloads 243 (217,035)

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Labor Force Composition, Labor Market Agglomeration, Stock Options, Corporate Social Responsibility, Working Conditions, Financing

28.

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 55
Citation 2

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29.

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 (839,618)
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30.

Strategic Decisions in Takeover Auctions: Recent Developments

Annual Review of Financial Economics, Vol. 12, pp. 237-276, 2020
Posted: 10 Dec 2020
B. Espen Eckbo, Andrey Malenko and Karin S. Thorburn
Tuck School of Business at Dartmouth, Boston College and Norwegian School of Economics

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31.

Bankruptcy Auctions: Costs, Debt Recovery, and Firm Survival

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

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