Steinberg-Dietrich Hall
3620 Locust Walk
Philadelphia, PA 19104
Karin S. Thorburn is an Adjunct Full Professor of Finance at the Wharton School of the University of Pennsylvania. She is also the Research Chair Professor of Finance at NHH Norwegian School of Economics. Prior to joining NHH in 2009, she was a faculty member at the Tuck School of Business at Dartmouth College for 11 years.
Thorburn’s research focuses on takeovers, bankruptcy, IPOs, corporate governance, corporate debt, and corporate social responsibility. She regularly publishes in the top academic journals, including the Journal of Finance, Journal of Financial Economics, Management Science, and Journal of Financial and Quantitative Analysis.
Thorburn is a Research Associate of the Center for Economic Policy Research (CEPR) in London and a Research Affiliate of the European Corporate Governance Institute (ECGI) in Brussels.
She is a Director of the boards of Maritime & Merchant Bank ASA, Argentum Asset Management AS, Nussir ASA, Green LNG Services AS, Preferred Global Health AS, and Horus of Norway AS. She has been a member of several expert groups that assess asset allocation and the effects of climate and geopolitical risks on the investment strategies of the Norwegian Oil Fund.
Thorburn holds a Ph.D. in financial economics from the Stockholm School of Economics.
Thorburn’s research focuses on takeovers, bankruptcy, IPOs, corporate governance, corporate debt, and corporate social responsibility.
B. Espen Eckbo, Knut Nygaard, Karin Thorburn (2021), Valuation effects of Norway’s board gender-quota law revisited, Management Science. https://doi.org/10.1287/mnsc.2021.4031
B. Espen Eckbo, Malenko, Andrey, Karin Thorburn (2020), Strategic decisions in takeover auctions: Recent developments, Annual Review of Financial Economics, 12 (), pp. 237-276.
Karin Thorburn, B. Espen Eckbo, Tanakorn Makaew (2018), Are stock-financed takeovers opportunistic?, Journal of Financial Economics, 128 (3), pp. 443-465.
Karin Thorburn, Tore Leite, Einar Bakke (2016), Partial Adjustment to Public Information in the Pricing of IPOs, Journal of Financial Intermediation, forthcoming ().
Karin Thorburn, Wei Wang, B. Espen Eckbo (2016), How costly is corporate bankruptcy for the CEO?, Journal of Financial Economics, 121 (1), pp. 210-229.
Karin Thorburn, B. Espen Eckbo, Rex Thompson, Sandra Betton (2014), Merger negotiations with stock market Feedback, Journal of Finance, 69 (4), pp. 1704-1745.
Karin Thorburn and B. Espen Eckbo (2013), Corporate Restructuring, Foundations and Trends in Finance, 7 (3), pp. 159-288.
Karin Thorburn and Karen Fisher-Vanden (2011), Voluntary corporate environmental initiatives and shareholder wealth, Journal of Environmental Economics and Management, 62 (3), pp. 430-455.
Karin Thorburn, Sandra Betton, B. Espen Eckbo (2009), Merger negotiations and the Toehold Puzzle, Journal of Financial Economics, 91 (), pp. 158-178.
Karin Thorburn and B. Espen Eckbo (2009), Automatic bankruptcy auctions and fire-sales, Journal of Financial Economics, 89 (), pp. 404-422.
The course focuses on financial tools, techniques, and best practices used in buyouts (financial buyers) and acquisitions (strategic buyers). While it will touch upon various strategic, organizational, and general management issues, the main lens for studying these transactions will be a financial one. It will explore how different buyers approach the process of finding, evaluating, and analyzing opportunities in the corporate-control market; how they structure deals and how deal structure affects both value creation and value division; how they add value after transaction completion; and how they realize their ultimate objectives (such as enhanced market position or a profitable exit). The course is divided into two broad modules. The first module covers mergers and acquisitions, and the second one studies buyouts by private equity partnerships. FNCE 7030 or FNCE 7070 are recommended.
FNCE7510001 ( Syllabus )
FNCE7510002 ( Syllabus )
FNCE7510003 ( Syllabus )
The course focuses on financial tools, techniques, and best practices used in buyouts (financial buyers) and acquisitions (strategic buyers). While it will touch upon various strategic, organizational, and general management issues, the main lens for studying these transactions will be a financial one. It will explore how different buyers approach the process of finding, evaluating, and analyzing opportunities in the corporate-control market; how they structure deals and how deal structure affects both value creation and value division; how they add value after transaction completion; and how they realize their ultimate objectives (such as enhanced market position or a profitable exit). The course is divided into two broad modules. The first module covers mergers and acquisitions, and the second one studies buyouts by private equity partnerships. FNCE 2030 or FNCE 2070 are recommended.
The course focuses on financial tools, techniques, and best practices used in buyouts (financial buyers) and acquisitions (strategic buyers). While it will touch upon various strategic, organizational, and general management issues, the main lens for studying these transactions will be a financial one. It will explore how different buyers approach the process of finding, evaluating, and analyzing opportunities in the corporate-control market; how they structure deals and how deal structure affects both value creation and value division; how they add value after transaction completion; and how they realize their ultimate objectives (such as enhanced market position or a profitable exit). The course is divided into two broad modules. The first module covers mergers and acquisitions, and the second one studies buyouts by private equity partnerships. FNCE 7030 or FNCE 7070 are recommended.