Kyeong Hun Lee new at Finance
Kyeong Hun (Kyle) Lee has just joined NHH and the Department of Finance as assistant professor for four years. His research fields are empirical corporate finance and international finance with emphasis on mergers and acquisitions.
Kyeong Hun (Kyle) Lee has published in the Journal of Financial Economics and Contemporary Accounting Research. He completed his PhD in finance at the University of Iowa in 2014.
Prior to joining NHH, Kyle taught at Tulane University in New Orleans and Higher School of Economics (ICEF) in Moscow. He is originally from South Korea. He will be teaching a course in Entrepreneurial Finance during the spring semester 2018.
Research in Human Capital
In the paper “Human Capital Relatedness and Mergers and Acquisitions” (forthcoming in Journal of Financial Economics), Kyle and his co-authors investigate how firms’ human capital - including top executives and rank-and-file employees - affects corporate merger decisions and outcomes.
Firms tend to acquire another firms with similar human capital. In such acquisitions (i.e., many of their employees perform similar tasks), the acquiring firm exercises greater bargaining power against the target firm’s employees (e.g., greater layoff and lower salary), which leads to a greater stock price and a better operating performance post-transaction. This study highlights the importance of human capital, which is often ignored in finance research, when studying the motivation and consequences of corporate restructuring.
See video with another newcomer at the Department of Finance (nhh.no):
Nataliya Gerasimova to Finance