Karin S. Thorburn

Professor Karin S. Thorburn

+47 55 95 92 83
Centre for Corporate Finance
Corporate Governance Takeovers Bankruptcy Restructuring IPOs Private Equity Executive Compensation


Karin S. Thorburn is Research Chair Professor of Finance at NHH Norwegian School of Economics, Adjunct Full Professor of Finance at The Wharton School of University of Pennsylvania, and Visiting Professor of Finance at the Tuck School of Dartmouth College. Prior to joining NHH in 2009, she was a full-time faculty member at Tuck for 11 years.
Thorburn’s research focuses on M&A, credit, bankruptcy, IPOs, corporate governance, and corporate social responsibility. She regularly publishes in the top academic journals, including Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Financial Intermediation, Journal of Corporate Finance, and Journal of Environmental Economics and Management.
Thorburn is a Council member of the Society for Financial Research, a Research Associate of the Center for Economic Policy Research (CEPR) in London, a Research Affiliate of the European Corporate Governance Institute (ECGI) in Brussels, and a former director of the Executive Committee of the European Finance Association. She is a Director of the Board of Maritime & Merchant Bank ASA, Global LNG Services AS, SEB Investment Management AB, and Falck Advisory AS. In 2016, she served on a committee appointed by the Norwegian government to assess the portfolio allocation of the $1 trillion Government Pension Fund Global. Thorburn holds a PhD in financial economics from the Stockholm School of Economics.

Curriculum Vitae

Faculty webpage at the Wharton School

Faculty webpage at the Tuck School

Selected publications

Author(s) Title Publisher
Eckbo, B. Espen; Nygaard, Knut; Thorburn, Karin S. Valuation Effects of Norway’s Board Gender-Quota Law Revisited Management science Volume 68 (6); page 4112 - 4134; 2021
Eckbo, B. Espen; Malenko, Andrey; Thorburn, Karin S. Strategic Decisions in Takeover Auctions: Recent Developments Annual Review of Financial Economics Volume 12; page 237 - 276; 2020
Eckbo, B. Espen; Tanakorn, Makaew; Thorburn, Karin S. Are stock-financed takeovers opportunistic? Journal of Financial Economics Volume 128 (3); page 443 - 465; 2018
Bakke, Einar; Leite, Tore; Thorburn, Karin S. Partial adjustment to public information in the pricing of IPOs Journal of Financial Intermediation Volume 32; page 1339 - 1351; 2017
Eckbo, B. Espen; Thorburn, Karin S.; Wang, Wei How Costly Is Corporate Bankruptcy for the CEO? Journal of Financial Economics Volume 121 (1); page 210 - 229; 2016
Betton, Sandra; Eckbo, B. Espen; Thompson, Rex; Thorburn, Karin S. Merger negotiations with stock market feedback Journal of Finance Volume 69 (4); page 1705 - 1745; 2014
Fisher-Vanden, Karen; Thorburn, Karin S. Voluntary corporate environmental initiatives and shareholder wealth Journal of Environmental Economics and Management Volume 62 (3); page 430 - 445; 2011
Thorburn, Karin S.; Eckbo, B. Espen; Betton, Sandra Merger Negotiations and the Toehold Puzzle Journal of Financial Economics Volume 91 (2); page 158 - 178; 2009
Eckbo, B. Espen; Thorburn, Karin S. Creditor financing and overbidding in bankruptcy auctions: Theory and tests Journal of Corporate Finance Volume 15 (1); page 10 - 29; 2009
Eckbo, B. Espen; Thorburn, Karin S. Automatic bankruptcy auctions and fire-sales Journal of Financial Economics Volume 89 (3); page 404 - 422; 2008
Eckbo, B. Espen; Thorburn, Karin S. Control benefits and CEO discipline in automatic bankruptcy auctions Journal of Financial Economics Volume 69 (1); page 227 - 258; 2003
Thorburn, Karin S. Bankruptcy Auctions: Costs, Debt Recovery, and Firm Survival Journal of Financial Economics Volume 58 (3); page 337 - 368; 2000
Eckbo, B. Espen; Thorburn, Karin S. Gains to bidder firms revisited: Domestic and foreign acquisitions in Canada Journal of Financial and Quantitative Analysis Volume 35 (1); page 1 - 25; 2000
More publications in Cristin


Master level course:  
Mergers and Acquisitions                 

Teaching awards:

Haas teaching award


PhD level course: 
Empirical Research in Corporate Finance



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