Sehoon Kim
Assistant Professor | University of Florida
Gainesville, FL, UNITED STATES
Sehoon Kim researches corporate finance and financial markets.
Biography
Sehoon Kim is an assistant professor of finance in the Finance, Insurance and Real Estate Department. Sehoon conducts research broadly in the areas of corporate finance and financial markets, focusing on issues related to corporate governance, sustainability, competition, and the impact of policies and regulations on corporations.
Areas of Expertise (6)
Competition
Corporate Finance
Corporate Governance
Financial Markets
Public Policy
Sustainability
Media Appearances (3)
SEC approves first US climate disclosure rules: Why the requirements are much weaker than planned and what they mean for companies
The Conversation online
2024-03-06
After two years of intense public debate, the U.S. Securities and Exchange Commission approved the nation’s first national climate disclosure rules on March 6, 2024, setting out requirements for publicly listed companies to report their climate-related risks and in some cases their greenhouse gas emissions.
Business school sustainability research: What is read most?
Financial Times online
2023-07-05
In the most widely read research into sustainability from business school academics, three letters dominate: ESG. Articles on environmental, social and governance factors were the most popular of all the pieces downloaded by organisations over the past three years, according to an analysis by the Social Science Research Network (SSRN) for the FT.
Investors are all for ESG. Except, that is, when times are tough.
The Wall Street Journal print
2023-02-04
Individual-investor demand for socially responsible investing “is highly sensitive to income shocks” and economic stress, concluded the study’s authors, Robin Döttling, an assistant professor of finance in the Rotterdam School of Management at Erasmus University in the Netherlands, and Sehoon Kim, assistant professor at the University of Florida’s Warrington College of Business.
Articles (5)
Carbon Offsets: Decarbonization or Transition-Washing?
Market IntelligenceSehoon Kim, et. al
2024-03-18
Using rich hand-collected data, we examine how corporations use carbon offset credits issued by third-party developers to claim emission reductions. Larger firms with higher institutional ownership and net-zero commitments tend to use offsets. However, offsets are used intensively in low-emission industries.
Sustainable Private Capital Markets
Climate Change and Climate FinanceJongsub Lee, et. al
2023-09-01
Environmental, social, and governance (ESG) issues in corporate policies have moved vigorously to the center of discussion in recent years. Indeed, estimates suggest that “sustainable” investing has surged in the United States (US), commanding about $15 trillion under management as of 2022, up nearly tenfold in 10 years.
Sustainability Preferences Under Stress: Evidence from COVID-19
Journal of Financial and Quantitative AnalysisRobin Döttling, et. al
2022-11-17
We document fragile demand for socially responsible investments (SRI) by retail mutual fund investors. Using COVID-19 as an economic shock, we show funds with higher sustainability ratings experienced sharper declines in retail flows during the pandemic, controlling for fund characteristics.
ESG Lending
SSRNSehoon Kim, et. al
2022-03-28
This paper examines the environmental, social and governance (ESG) loan market, which has grown from $6 billion in 2016 to $322 billion in 2021. This growth is driven primarily by ESG-linked loans where loan spreads are contingent on borrower ESG performance, as well as by use-of-proceeds based green loans issued for specific green projects. ESG-linked loans are mostly issued by large and publicly traded firms with superior ESG profiles.
Real effects of climate policy: Financial constraints and spillovers
Journal of Financial EconomicsSöhnke M. Bartram, et.al
2022-01-12
We document that localized policies aimed at mitigating climate risk can have unintended consequences due to regulatory arbitrage by firms. Using a difference-in-differences framework to study the impact of the California cap-and-trade program with U.S. plant-level data, we show that financially constrained firms shift emissions and output from California to other states where they have similar plants that are underutilized. By contrast, unconstrained firms do not make such adjustments.
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