Sunwoo Hwang

PhD Candidate in Finance

Kenan-Flagler Business School,

University of North Carolina at Chapel Hill

Email: sunwoo_hwang(at)

SSRN / Google Scholar / ResearchGate / Blog

Curriculum Vitae

Working Papers

Does Diversification of Share Classes Increase Firm Value? with Sojung Kim and Woochan Kim

Mandating Women on Boards: Evidence from the United States with Anil Shivdasani and Elena Simintzi

  • R&R at Review of Financial Studies
  • Featured in Harvard Law School's Forum on Corporate Governance and Financial Regulation (Link)

Shareholder- vs. Stakeholder-Initiated Corporate Social Responsibility

Sarbanes Oxley and Hidden Board Independence: Is a Gray Director the Smoking Gun?

Changing of the Guards: Does Succession Planning Matter? with Dragana Cvijanovic and Nickolay Gantchev

  • Featured in Columbia Law School’s blog on corporations and the capital markets (Link)


Does Employee Job Security Spur Innovation and Entrepreneurship? (Job Market Paper)

Barriers to Entrepreneurship and Education Irrelevance

Theory of Governance: the Generalized Method of Moments Framework

Pre-PhD Papers

When Heirs Become Major Shareholders: Evidence on Pyramiding Financed by Related-Party Sales with Woochan Kim, 2016, Journal of Corporate Finance

Managerial Entrenchment of Anti-Takeover Devices: Quasi-Experimental Evidence from Korea with Woochan Kim, 2012, Pacific-Basin Finance Journal