Literature Survey
Kim, Woochan, Woojin Kim, and Kyung Suh Park (2022), “A Survey of Research on the Corporate Governance of Korean Firms,” Asian Review of Financial Research Vol . 35, No.1, pp.151-213.
Corporate Governance Reform
Kim, E. Han and Woochan Kim (2008), “Changes in Korean Corporate Governance: A Response to Crisis,” Journal of Applied Corporate Finance, Vol. 20, No. 1, pp.47-58 (January 2008)
Sung, Taeyoon and Woochan Kim (2008), “Chaebol Reform: A Decade after the Financial Crisis,” Journal of Korean Economic Analysis, Vol. 14, No. 2, pp.126-212 (August 2008, in Korean)
Governance Indices
Black, Bernard, Hasung Jang, and Woochan Kim (2006),” Predicting Firms’ Corporate Governance Choices: Evidence from Korea,” Journal of Corporate Finance, Vol. 12, No. 3, pp.660-691 (June 2006)
Black, Bernard, Hasung Jang, and Woochan Kim (2006), “Does Corporate Governance Predict Firms’ Market Values? Evidence from Korea,” Journal of Law, Economics, & Organization, Vol. 22, No. 2, pp.366-413 (October 2006)
Black, Bernard, Antonio Gledson De Carvalho, Vikramaditya Khanna, Woochan Kim, Burcin Yurtoglu (2014), “Methods for Multicountry Studies of Corporate Governance: Evidence from the BRIKT Countries,” Journal of Econometrics, Vol. 183, No.2, pp.230-240
Black, Bernard, Antonio Gledson De Carvalho, Vikramaditya Khanna, Woochan Kim, and Burcin Yurtoglu (2017), "Corporate Governance Indices and Construct Validity," Corporate Governance: An International Review, Vol . 25, pp.397-410.
Black, Bernard, Antonio Gledson De Carvalho, Vikramaditya Khanna, Woochan Kim, Burcin Yurtoglu (2020), “Which Aspects of Corporate Governance Do and Do Not Matter in Emerging Markets,” Journal of Law, Finance, and Accounting, Vol . 5, No.1, pp.137-177.
Black, Bernard, Antonio Gledson De Carvalho, Woochan Kim, Burcin Yurtoglu (2023), “How Useful are Commercial Corporate Governance Ratings? Evidence from Emerging Markets,” Journal of Corporate Finance, Vol. 80, 102405.
Ownership Structure
Kim, Woochan, Youngjae Lim, and Taeyoon Sung (2007), “Group Control Motive as a Determinant of Ownership Structure in Business Conglomerates: Evidence from Korea’s Chaebols,” Pacific-Basin Finance Journal, Vol. 15, No.3, pp.213-252 (June 2007)
Kim, Bushik, Woochan Kim, and Yongjoon Lee (2023), “The Effect of Mandatory Bid Rule on Private Benefits of Control,” Asian Review of Financial Research Vol . 36, No.3, pp.1-30.
Business Groups
Liu, Yunxiao, Joonghyuck Kim, and Woochan Kim (2016), “Business Group and Its Effect on Financial Distress Risk,” Korean Journal of Financial Management, Vol . 33, No.3.
Liu, Yunxiao, Woochan Kim, and Taeyoon Sung (2021), “Investment Efficiency of Firms Outside the Business Group,” Journal of Corporate Finance, Vol . 71, 102105.
Tunneling
Kim, Woochan, Taeyoon Sung, and Shang-Jin Wei (2011), “Does Corporate Governance Risk at Home Affect Investment Choices Abroad?” Journal of International Economics, Vol. 85 No.1, pp.25-41 (September 2011)
Kim, Woochan, Woojin Kim, and Hyung-Seok Kim (2013), “Death Spiral in Emerging Market: A Control Related Perspective” Pacific-Basin Finance Journal, Vol. 22, pp.14-36.
Black, Bernard, Woochan Kim, Hasung Jang, and Kyung-Suh Park (2015), “How Corporate Governance Affects Firm Value? Evidence on Self-Dealing Channel from a Natural Experiment in Korea,” Journal of Banking and Finance, Vol . 51, pp.131-150.
Hwang, Sunwoo, and Woochan Kim (2016), “When Heirs Become Major Shareholders: Evidence on Pyramiding Financed by Related-Party Sales,” Journal of Corporate Finance, Vol . 41, pp.23-42.
Kim, Sojung, and Woochan Kim (2022), “Tunneling Through Trademarks,” Journal of Corporate Finance, Vol. 76. 102274.
Anti-Takeover Devices
Hwang, Sunwoo and Woochan Kim (2012), “Managerial Entrenchment of Anti-Takeover Devices: Evidence from Quasi-Experimental Setting in Korea,” Pacific-Basin Finance Journal, Vol. 20, pp.614-638
Kim, Sojung, Sunwoo Hwang, and Woochan Kim (2020), “Does Diversification of Share Classes Increase Firm Value?” Asian Review of Financial Research Vol. 33, No.4, pp. .491-539
Board Structure
Black, Bernard and Woochan Kim (2012), “The Effect of Board Structure on Firm Value: A Multiple Identification Strategies Approach Using Korean Data,” Journal of Financial Economics, Vol. 104, No.1, pp.203-226
Black, Bernard, Woochan Kim, and Julia Nasev (2021), “The Effect of Board Structure on Firm Disclosure and Behavior: A Case Study of Korea and a Comparison of Research Designs,” Journal of Empirical Legal Studies, Vol. 18, No. 2, pp.328-376
Executive Compensation
Kato, Takao, Woochan Kim, and Ju-Ho Lee (2007), "Executive Compensation, Firm Performance, and Chaebols in Korea: Evidence from New Panel Data," Pacific-Basin Finance Journal, Vol. 15, No. 1, pp.36-55 (January 2007)
Cheong, Juyoung and Woochan Kim (2019), “Family Pay Premium in Large Business Group Firms” Emerging Markets Finance and Trade, Vol . 55, No.10, pp.2314-2333.
Kim, Hyung-Seok, and Woochan Kim (2020), “Does Tunneling Explain the Sensitivity of Executive Compensation to Other Member Firms’ Performance?” Journal of Business, Finance, and Accounting, Vol . 47, No.9-10, pp.1268-1289.
Ra, Jinhyeok and Woochan Kim (2023), “Perils of Limiting the Coverage of Mandatory Pay Disclosure: The Korean Experience” Journal of Business, Finance, and Accounting, Vol. 50, No. 9-10, pp. 1633-1670.
Shareholder Engagement
Kim, Woochan, Woojin Kim, and Kap-Sok Kwon (2009), “Value of Outside Blockholder Activism: Evidence from the Switchers,” Journal of Corporate Finance, Vol. 15, No.4, pp.505-522 (September 2009)
Kim, Woochan, Taeyoon Sung, and Shang-Jin Wei (2017), “The Diffusion of Corporate Governance to Emerging Markets: Evaluating Two Dimensions of Investor Heterogeneity,” Journal of International Money and Finance, Vol . 70, pp.406-432.
Ra, Jinhyeok, Sunmin Kim, Hyoung-Goo Kang, and Woochan Kim (2021), “Anchoring Effect of Pre-Meeting Vote Disclosures: Evidence from the National Pension Service,” Asian Review of Financial Research Vol . 34, No.4, pp.41-78.
Estate Tax
Ra, Jinhyeok, and Woochan Kim (2025), “Can Estate Tax Cuts Raise Share Prices?” Asian Review of Financial Research, Vol . 38, No.2, pp.101-131.
Not-for-Profit Organizations
Bae, Kee-Hong, Seung-Bo Kim, and Woochan Kim (2012), “Family Control and Expropriation at Not-for-Profit Organizations: Evidence from Korean Private Universities,” Corporate Governance: An International Review, Vol. 20, No.4, pp.388-404
Corporate Social Responsibility
Kim, Sojung, and Woochan Kim (2021), “The Value of Corporate Social Responsibility: Evidence from the Severe Accident Punishment Act,” The Korean Journal of Financial Management, Vol. 38, No.3, pp. 201-238.
Non-Governance Studies (International Finance)
Kim, Woochan (2001), “Foreign Portfolio Investors: Are They Different?” Journal of Korean Economic Analysis Vol. 7, No.2 (August 2001, in Korean)
Kim, Woochan and Shang-Jin Wei (2002), “Foreign Portfolio Investors Before and During a Crisis" Journal of International Economics Vol. 56, No. 1 pp. 77-96 (January 2002)
Kim, Woochan and Shang-Jin Wei (2002), “Offshore Investment Funds: Monsters in Emerging Markets?" Journal of Development Economics Vol. 68, No. 1 pp. 205-24 (June 2002)
Kim, Woochan (2003), “Does Capital Account Liberalization Discipline Budget Deficit?” Review of International Economics Vol. 11, No. 5, pp.830-844 (October 2003)
Kim, Woochan, and Taeyoon Sung (2005), “What Makes Firms Manage FX Risk?” Emerging Market Review, Vol. 6, No.3, pp.263-88 (September 2005)
Kim, Woochan (2012), “Korea Investment Corporation: Its Origin and Evolution” Journal of the Asia Pacific Economy, Vol. 17, No.2, pp.208-235.
Song, Jun Myung and Woochan Kim (2025), “Do U.S. Institutional Investors React to International Politics?” Journal of International Financial Markets, Institutions, and Money, Vol. 101, 102160