My name is Sunwoo Hwang. I am a Ph.D. candidate in finance at UNC Kenan-Flagler Business School and going to be on the job market in the 2019-2020 academic year. My research interests lie in broad yet tightly-connected areas of corporate finance (both theoretical and empirical). They span corporate governance, labor and finance, entrepreneurial finance, innovation, and corporate social responsibility.
Corporate governance helps lower agency costs that are the greatest at large and mature firms. Entrepreneurial finance, and innovation, let small and young firms grow. Both are essential for corporate and economic growth. I also maintain close interest in labor and finance, which is of growing importance as employees emerge as (human) capital complementing, rather than being substituted by, physical capital, and corporate social responsibility. Financial economists tend to focus on financial markets and large corporations, where agents are more likely to behave the way economic theories predict and the outcome of their choices are the most salient. However, market participants assume dual roles outside the market and a half of the population do not participate in the market at all. It is important to appreciate the impact of decisions made in and for the market on market participants in non-market positions as well as non-participants.