PhD Defence: Donghyun Kang

In order to obtain the PhD degree, Donghyun Kang has submitted his thesis entitled:

Essays in Bankruptcy and Financial Distress

This dissertation explores the impact of bankruptcy institutions on financial distress resolution through three independent chapters. The first chapter examines how wealth protection in personal bankruptcy affects serial entrepreneurship, finding that windfall wealth increases business reentry only for entrepreneurs without severe pre-bankruptcy losses, albeit with lower subsequent profits. The second chapter investigates the influence of judge characteristics on corporate bankruptcy outcomes, revealing that judges' backgrounds affect case outcomes and durations, particularly in marginal cases. The third chapter analyzes the effects of bankruptcy quarantines on managerial behavior, demonstrating that disqualifications reduce future business activity and bankruptcies but lead to increased family involvement in management and changes in the managerial labor pool.

The thesis will be available from research.cbs.dk

Primary Supervisor:

Professor Kasper Meisner Nielsen
Department of Finance
Copenhagen Business School

Secondary Supervisors:

Professor Charlotte Østergaard
Department of Finance
Copenhagen Business School

Assessment Committee:
 
Associate Professor Ulf Nielsson (Chair)
Department of Finance
Copenhagen Business School
 
Associate Professor Ashwini Agrawal
Department of Finance
London School of Economics and Political Science
 
Professor Karin S. Thorburn
Department of Finance
NHH Norwegian School of Economics

Date: 10 October 2024
Time: 15:00-17:00
Online: Teams
 
*Please note that the microphone and camera of all spectators must be turned off.

Location: Solbjerg Plads
Room: SP205 Simon Kucher
Reception: FUHU

*The CBS PhD School will host a reception, which will take place immediately after the defence.