Karin S. Thorburn

 

E-mail:

Karin.Thorburn@nhh.no

Telephone:

+47 55 95 92 83

Fax:

+47 55 95 96 47

Title:

Research Chair Professor of Finance, Ph.D., Stockholm School of Economics, 1998

Date of birth:

 

Nationality:

Swedish, US
Curriculum Vitae

Teaching languages:

Swedish, English

Biography:

Professor Thorburn holds a bachelor's degree in economics and a PhD in financial economics from the Stockholm School of Economics. She was a faculty member at the Tuck School of Business at Dartmouth College, USA, from 1998-2009. Her research focuses on takeovers, bankruptcy, IPOs, corporate restructuring, corporate governance, and environmentally responsible investing. Her work has been published in the top academic journals, including Journal of Financial Economics, Journal of Corporate Finance, Journal of Financial and Quantitative Analysis, and Journal of Environmental Economics and Management. Professor Thorburn is a director of the board of Nordea Bank Norge ASA. She is a Lindenauer Research Fellow of the Center for Corporate Governance at the Tuck School at Dartmouth, a Research Affiliate of the Center for Economic Policy Research (CEPR) in London, a Research Associate of the European Corporate Governance Institute (ECGI) in Brussels, a member of the scientific board of the European Center for Corporate Control Studies (ECCCS) in Lille, the Scientific Advisory Board to the Centre for Finance at Gothenburg University and the Academic Advisory Council to the U.S. Turnaround Management Association (TMA) and associate editor of the Journal of Corporate Finance, and the International Journal of Corporate Governance.
Teaching areas:

  • Mergers & Acquisitions

  • Corporate Restructuring

  • Corporate Finance

  • Corporate Valuation
   
Courses:
Research areas:

  • Takeovers

  • Corporate Bankruptcy

  • Corporate Restructuring

  • Corporate Governance

  • Environmental Economics
Selected publications:

  • Fisher-Vanden, Karen, and Karin S. Thorburn, 2011, “Voluntary Corporate Environmental Initiatives and Shareholder Wealth”, Journal of Environmental Economics and Management, 62, 430-445.

  • Eckbo, B. Espen, and Karin S. Thorburn, 2009, “Bankruptcy as an auction process: Lessons from Sweden”, Journal of Applied Corporate Finance 21 (Summer), 36-50.

  • Betton, Sandra, B. Espen Eckbo, and Karin S. Thorburn, 2009, “Merger Negotiations and the Toehold Puzzle,” Journal of Financial Economics 91, 158-178.

  • Eckbo, B. Espen, and Karin S. Thorburn, 2009, “Creditor Financing and Overbidding in Bankruptcy Auctions,” Journal of Corporate Finance 15, 10-29.

  • Eckbo, B. Espen, and Karin S. Thorburn, 2008, “Automatic Bankruptcy Auctions and Fire-Sales,” Journal of Financial Economics 89, 404-422.

  • Hotchkiss, Edith S., Kose John, Robert M. Mooradian, and Karin S. Thorburn, 2008,"Bankruptcy and the Resolution of Financial Distress," in B. Espen Eckbo (ed.), Handbook of Corporate Finance: Empirical Corporate Finance, Vol. 2, Elsevier/North-Holland, Ch. 14, 234-287.

  • Betton, Sandra, B. Espen Eckbo, and Karin S. Thorburn, 2008, “Corporate Takeovers,” in B.E. Eckbo (ed.) Handbook of Corporate Finance: Empirical Corporate Finance, Vol. 2, Elsevier/North-Holland, Ch. 15, 289-427.

  • Eckbo, B. Espen, and Karin S. Thorburn, 2008, “Corporate Restructuring: Breakups and LBOs,” in B.E. Eckbo (ed.) Handbook of Corporate Finance: Empirical Corporate Finance, Vol. 2, Elsevier/North-Holland, Ch. 16, 429-493.

  • Eckbo, B. Espen, and Karin S. Thorburn, 2003, “Control Benefits and CEO Discipline in Automatic Bankruptcy Auctions,” Journal of Financial Economics 69, 227-258.

  • Thorburn, Karin S., 2003, “Corporate Governance Practices in Europe: ‘Enron’ Antidote?,” Vermont Law Review 27, 887-907.

  • Thorburn, Karin S., 2000, “Bankruptcy Auctions: Costs, Debt Recovery, and Firm Survival,” Journal of Financial Economics 58, 337-368, lead article.

  • Eckbo, B. Espen, and Karin S. Thorburn, 2000, “Gains to Bidder Firms Revisited: Domestic and Foreign Acquisitions in Canada,” Journal of Financial and Quantitative Analysis 35, 1-25, lead article.
Working papers:
Work in progress:

  • Eckbo, B. Espen, Øyvind Norli, and Karin S. Thorburn, “Target-initiated takeovers”

  • Eckbo, B. Espen, Karin S. Thorburn, and Wei Wang, “Creditor control rights and CEO bankruptcy costs.”

  • Betton, Sandra, B. Espen Eckbo, Karin S. Thorburn, and Melissa Toffanin, “Bidder Returns and the Source of Cash-Financing in Takeovers.”

  • Bienz, Carsten, Karin S. Thorburn, and Uwe Walz, “Financial Incentives and Risk Taking in Private Equity Firms.”

  • Eckbo, B. Espen, Darius Palia, and Karin S. Thorburn, “CEO Compensation, Pay-Performance Sensitivity, and Total Executive Wealth.”
Affiliations:

  • Lindenauer Research Associate, Lindenauer Center for Corporate Governance, Tuck School of Business at Dartmouth College, USA, 2010-present.

  • Research Affiliate in the Financial Economics Programme of the Centre for Economic Policy Research (CEPR), London, 2002-present.

  • Research Associate of the European Corporate Governance Institute (ECGI), Brussels, 2004-present.

  • Member of the Academic Advisory Council to the Turnaround Management Association (TMA), USA, 2003-present.

  • Scientific board, The European Center for Corporate Control Studies (ECCCS), Lille, 2009-present.

  • Scientific Advisory Board, Centre for Finance at Gothenburg University, Sweden, 2011-present.
Directorships: