Hyun Hwang

What are my research interests?

How do financial reporting and disclosure shape capital allocation and investment within firms and across capital markets, and how does this affect the welfare of market participants?

Why? 

Accounting defines what counts as capital and how its performance is measured, shaping investment within firms and, through standards and reporting institutions, influencing capital allocation across markets. This dual role makes accounting central to understanding how capital allocation affects the welfare of market participants.

How?

1. “Internal Capital Allocation, Voluntary Disclosure, and Investment Efficiency”
   Management Science (2025) 71(12):10088-10105. Runner-up, The AAA MAS Dissertation Award, 2020. 

2. “Accounting Standards Uniformity, Comparability, and Resource Allocation Efficiency” 
   with Carlos Corona and Zeqiong Huang, The Accounting Review (2024) 99 (1): 139–161.

3. “Auditing in the Digital Age – Determinants and Consequences of Technology Investment”
   with Eunhee Kim and Minlei Ye, conditionally accepted at The Accounting Review.

4. “Macroeconomic Implications of Accounting Standards” with Eunhee Kim and Volker Laux.
   Presentations: Carnegie Mellon Accounting Conference 2025, Columbia Accounting Theory Conference 2024, Workshop on Accounting & Economics 2024, Baruch-Fordham-Rutgers Accounting Symposium, Yonsei University. 

5. “Information Production, Real Investment, and External Financing” with Eunhee Kim.
   Presentations: CUNY Baruch, KAIST (Seoul), MAS Midyear Meeting 2025. 

6. “Effects of Information Processing Costs on Corporate Investment and Welfare” with Eunhee Kim and Volker Laux.
   Presentations: Duke, Columbia Burton 2025, AES 2025, UT Austin, HARC 2026.