조성욱

Corporate Finance, Corporate Governance, Industrial Organization 교수


교수 소개

Professor Sung Wook Joh currently teaches at Seoul National University Business School and has worked for the many government offices: Prime Minister’s Office, Ministry of Finance and Economy, Ministry of Strategy and Finance, Ministry of Planning and Budget, and the Fair Trade Commission. She graduated from SNU and received her Ph. D. in economics from Harvard University. Dr. Joh had informed and evaluated government policies on chaebols and competition policy while working for KDI, a government think tank. She has been a visiting professor to MIT, the IMF and Development Bank of Japan.
One of her areas of research is small and medium sized enterprises. Professor Joh analyzed micro-dynamics of industries, empirically showing the determinants of business turnovers. She also studies SME’s financing issues including their capital structure, and initial public offerings (IPOs). Two, she examines financial distress and exit issues. She empirically studies how severe competition and exit threats affect agent choice of effort problems and organizational performance. In addition, Professor Joh examines incentive distortion issues when exit threats are practically non-existent. She showed that such as too-big-to-fail banks can take excessive risk and lend too much. Three, Dr. Joh has been analyzing corporate governance issues. Her article on the Korean economic crisis and corporate governance appeared in Journal of Financial Economics. She showed how the management incentive system can serve as a commitment device in product market collusion and shareholder-manager collusion. She has been working on issues on internal capital market transactions, and board of directors. Dr. Joh is currently examining how political connections affect firms’ borrowing and firms’ subsequent investment in political assets.

경력사항

학술활동

[정기학술지논문]
[1] Joh, S., W., Book Review of Reforming Korea’s Industrial Conglomerates, Journal of Economic Literature, 24(1), pp 216-218, American Economic Association, 2004
[2] Joh, S. W., Corporate Governance and Firm Profitability: Evidence from Korea before the economic crisis, Journal of Financial Economics 68(2), pp 287-322, North Holland, 2003
[3] Joh, S. W., Strategic managerial incentive compensation in Japan: Relative performance evaluation and product market collusion, Review of Economics and Statistics 81(2), pp 303-313, The MIT Press, 1999
[4] Joh, S. W., Determinants of Financial Institutions’ Lending to Distressed Firms, Asia-Pacific Journal of Financial Studies 35(1), 2005 (in Korean)
[5] Joh, S. W., Effects of foreign investors on Corporate Governance in Korea, ITBI Review 10(2), pp 79-93, 2004 (in Korean)
[6] Youngjae Lim and S.W. Joh, Policy Evaluation on Anti-concentration of Economic Power, Management and Law 13(2), pp 31-56. 2003 (in Korean)
[7] Joh, S. W., Corporate Governance and Firm Performance, Journal of Korean Economic Analysis 6(2), 2000 (in Korean)
[8] Joh, S. W., A study on the profitability of Korean firms: the effects of conflicts of interests among shareholders, Journal of Economic Policy 21(2), pp 3-54, 1999 (in Korean)
[9] Joh, S. W., Report on the Profitability of Korean Firms, KDI Quarterly Economic Outlook 16(2), 1999 (in Korean)
[10] Joh, S. W., The effects of ownership structure on incentive system and firm performance, Journal of Economic Policy 20(3), pp 63-110, 1998 (in Korean)

[논문집]
[1] Joh, S. W., The monitoring role of financial institutions in the Korean corporate sector, in Jwa and Lee (eds.), Competition and Corporate Governance in Korea: reforming and restructuring the Chaebol, 93-114, Edward Elgar Publisher, UK, 2004
[2] Joh, S. W., Corporate Restructuring in Chung and Eichengreen (eds.), Korean Economy: Beyond the Crisis, 194-217, Edward Elgar Publisher, UK, 2004
[3] Joh, S. W., The Korean Economic Crisis and Corporate Governance System in Ito and Krueger (eds.), Governance, Regulation and Privatization, NBER/EASE Vol. 12, pp129-158, Chicago University Press, 2004
[4] Joh, S. W. and E.S. Kim, Corporate Structure, Governance and Performance of Korean firms in the 1990s in Haggard, Kim and Lim (eds.), Korean Corporate Restructuring, pp102-126, Cambridge University Press, UK, April 2003
[5] Joh, S. W., The Korean Corporate Sector: Crisis and Reform in Kwon and Shepherd (eds.) Korean Economic Prospects: from Financial Crisis to Prosperity, pp116-134, Edward Elgar Publisher, UK, 2001
[6] Nam, I. C., Kim, J.K., Kang, Y., Joh, S.W. and Kim, J.I., Corporate Governance in Korea, Corporate Governance in Asia: A comparative Perspective, 155-208, OECD, Paris, 2001