Research Interests

Archival, economics-based research, focusing on how accounting standards, regulations, and corporate governance shape financial reporting, capital markets, and managerial decisions.

Published, Forthcoming, or Accepted Papers
▪  FT50 = Financial Times Top 50 journal

▪  ABDC = Australian Business Deans Council

▪  ABS = Association of Business Schools ranking

1.  "International Financial Reporting Standards and the Macroeconomy."

• • The Accounting Review 99 (1): 315−336 (2024) 

  • [FT50 | ABDC = A* | ABS = 4* (the highest)]  doi.org/10.2308/TAR-2020-0459 

  • Co-author: Asad Kausar

  • Presentations: American University†, Australian National University, City University of Hong Kong, Duke University, Pepperdine University, Chinese University of Hong Kong, 2018 Hawaii Accounting Research Conference, Hong Kong Polytechnic University, Hong Kong University of Science and Technology, 2018 Journal of Accounting, Auditing, and Finance Annual Conference, Nanyang Technological University, National University of Singapore, Singapore Management University, the University of Hawaii at Manoa, and the University of Hong Kong

2. "Information Content of Credit Rating Affirmations."

• • Contemporary Accounting Research 41 (1): 645−678 (2024)

  • [FT50 | ABDC = A* | ABS = 4* (the highest)] doi.org/10.1111/1911-3846.12921

  • Co-authors: Boochun Jung, Asad Kausar, Byungki Kim, and Jian Zhou

  • Presentations: Duke University, Frankfurt School of Finance & Management, 2019 Hawaii Accounting Research Conference, Hong Kong Polytechnic University, Korea Advanced Institute of Science and Technology (KAIST)†, and University of Göttingen

3. "Capitalization of In-Process Research and Development under SFAS 141R and Information Asymmetry.”

1. • Contemporary Accounting Research 36 (4): 2379−2407 (2019) 

   • [FT50 | ABDC = A* | ABS = 4* (the highest)] doi.org/10.1111/1911-3846.12508 

   • Co-authors: Hyeesoo Chung, Stephen A. Hillegeist and Jinyoung Wynn

   • Notes: In contrast to prior research, we find no evidence that capitalizing in-process research and development (IPR&D) improved the information environment for IPR&D acquirers. In addition, we find no evidence that IPR&D acquirers engaged in increased classification shifting between IPR&D and goodwill, as critics of capitalization had feared.

4. "Data Analytics and Operational Efficiency."

1. • Accounting Horizons (2025) 

   • [ABDC = A | ABS = 3 (the second highest)]  doi.org/10.2308/HORIZONS-2022-164 

   • Co-authors: Asad Kausar and Jee-Hae Lim

5.  "Labor Skills and Income Smoothing."

1. •  Journal of Accounting, Auditing, and Finance (2024) 

   • [ABS = 3 (the second highest)] doi.org/10.1177/0148558X241247091 

   • Co-authors: Boochun Jung, Tae Wook Kim, and Minyoung Noh

   • Presentations: Seoul National University and Sungkyunkwan University

6. "Economic Consequences of Bargain Purchase Gains under ASC 805: Evidence from Banking Industry."

1. • Asia-Pacific Journal of Accounting & Economics 32 (1): 53−75 (2025) 

   • [ABS = 2] doi.org/10.1080/16081625.2022.2067885 

   • Solo author

   • Note: I find evidence from the banking industry that the excess value of the acquired firm’s net assets over the acquisition price in business combinations (i.e., bargain purchase gain) represents an economic gain to the acquirer and thereby qualifies as part of Tier 1 capital, validating the bank regulators’ decision made on June 7, 2010.

7. "Investor Reactions to Restatements Conditional on Disclosure of Internal Control Weaknesses."

1. • Journal of Applied Accounting Research 19 (3): 423−439 (2018)

   • [ABDC = B | ABS = 2] doi.org/10.1108/JAAR-10-2017-0107 

   • Co-authors: Yiwen Li and Jinyoung Wynn

   • Note: We find evidence that restatements with early disclosure of internal control weaknesses provide more persuasive evidence of the ineffectiveness of a firm’s internal control over financial reporting, rather than early disclosure lowering the information asymmetry between a firm and investors.

Working Papers

1. "Does Stock Liquidity Impact Non-GAAP Reporting? Evidence from a Natural Experiment."

   • Under the 2nd-round review at The Accounting Review 

   • [FT50 | ABDC = A* | ABS = 4* (the highest)]

   • Co-authors: Byungki Kim, Kalin Kolev, and Hangsoo Kyung

   • Presentation: 2024 Hawaii Accounting Research Conference, University of Connecticut†, and University of Hawaii at Manoa

2. "Internal Control Weakness and Non-GAAP Reporting."

1. • Under revision for the 2nd-round review at Contemporary Accounting Research

   • [FT50 | ABDC = A* | ABS = 4* (the highest)]

   • Co-authors: So Yean Kwack and Ting Zhang

3. "Long-Term Earnings Growth Forecast Initiations for Loss Firms."

   • Under revision for the 2nd-round review at Contemporary Accounting Research

   • [FT50 | ABDC = A* | ABS = 4* (the highest)]

   • Co-authors: Songyi Han, Boochun Jung, and Huihao Yan

   • Presentation: 2024 46th EAA Annual Congress†

4. "Beneficial Contagion Effects of Low Audit Quality Revelation and Auditor Dismissal."

1. • Under revision for the 5th-round review at  The British Accounting Review

   • [ABDC = A* | ABS = 3 (the second highest)]

   • Co-authors: Christopher Calvin and Byungki Kim 

   • Presentations: 2020 Accounting and Finance Association of Australia and New Zealand (AFAANZ) Annual Conference† and 2020 Hawaii Accounting Research Conference† 

5. "More Frequent Financial Reporting and Market Feedback Effect: Evidence from U.S. and EU Regulatory Changes."

1. • Under revision for the 2nd-round review at Journal of Accounting and Public Policy

   • [ABDC = A | ABS = 3 (the second highest)]

   • Co-authors: Stephen A. Hillegeist, Asad Kausar, and Arthur Kraft

   • Presentations: 2022 AAA Annual Conference†, 2020 AAA FARS Midyear Conference†, and 2020 Hawaii Accounting Research Conference

6. “When Climate Regulations Step In, Do Lenders Step Back? Evidence from State Greenhouse Gas Emission Target Adoptions.”

1. • Under revision

   • Co-authors: Peter Demerjian and Bohyun Yang

   • Presentation: University of Hawai’i at Mānoa

7. "The SEC Reorganization and Financial Reporting."

   • Under review at The Accounting Review 

   • Co-author:  Asad Kausar

   • Presentations: University of Hawai’i at Mānoa and 2025 Hawaii Accounting Research Conference

8. "Real Effects of Control Threats on Workplace Safety: Evidence from Peer Firms."

   • Under review at The Accounting Review 

   • Co-authors:  Sanghum (Sean) Cho, Boochun Jung, and Asad Kausar

   • Presentations: American University†, 2023 AAA Southwest Region Meeting†, 2025 47th EAA Annual Congress†, and the University of Hawai’i at Mānoa†

9. "Market Implications of Cryptocurrency."

   • Under revision

   • Co-authors:  Seong Jin Ahn, Jeonghu Pak, and Choong-Yuel Yoo

   • Presentations: Chung-Ang University†, Korea Accounting Research Institute Accounting and Sustainability Research Seminar†, Korea Advanced Institute of Science and Technology† and 2025 Hawai’i Accounting Research Conference

10. "Stick Hurts More Than Carrot Helps: Managing Demand Uncertainty in Hotels."

1. • Under revision

1. • Co-authors: Sung Gyun Mun, Kwanglim Seo, and Linda Woo

† = Presented by co-author