Dr. Shim is an Associate Professor in the Risk Management and Insurance Program at the University of Colorado Denver. His research interests include industrial organization of insurance markets, capital structure, quantitative risk measurement, executive compensation, and regulation of financial institutions. His research has been published in academic journals such as the Journal of Risk and Insurance, Journal of Banking and Finance, Journal of Financial Services Research, Asia-Pacific Journal of Risk and Insurance, and Applied Economics.

He was a co-winner of the Geneva Association/International Insurance Society (IIS) Research Excellence Award in 2007. Dr. Shim teaches RISK 4909 and 6909 Corporate Risk Management.

He was a faculty member for the Department of Business Administration at Illinois Wesleyan University from 2007 to 2013.

Education

• PhD Risk Management and Insurance, Georgia State University
• MS Actuarial Science, Georgia State University

Areas of Expertise

• Industrial Organization of Insurance Markets
• Capital Structure
• Executive Compensation
• Regulation of Financial Institutions

Publications

• “Loan Portfolio Diversification, Market Structure and Bank Stability,” (2019), Journal of Banking and Finance 104: 103-115 (sole-authored)
• “CEO Inside Debt and Risk Taking: Evidence from Property-liability Insurance Firms,” (2019), with Andreas Milidonis and Takeshi Nishikawa, Journal of Risk and Insurance 86(2): 451–477   
• “Does Diversification Drive Down Risk-adjusted Returns? A Quantile Regression Approach,” (2017), Asia-Pacific Journal of Risk and Insurance 11(2): 1-32 (sole-authored)
• “An Investigation of Market Concentration and Financial Stability in Property-liability Insurance Industry,” (2017), Journal of Risk and Insurance 84(2): 567–597 (sole-authored)
• “Dependency between Risks and the Insurer’s Economic Capital: A Copula-based GARCH Model,” (2017), with Seung-Hwan Lee, Asia-Pacific Journal of Risk and Insurance 11(1): 1-29
• “A New Test Procedure for the Choice of Dependence Structure in Risk Measurement: Application to the U.S. and UK Stock Market Indices,” (2016), with Eun-Joo Lee and Seung-Hwan Lee, Applied Economics 48(15): 1382-1389
• “Bank Capital Buffer and Portfolio Risk: The Influence of Business Cycle and Revenue Diversification,” (2013), Journal of Banking and Finance 37: 761-772 (sole-authored)
• “Mergers & Acquisitions, Diversification and Performance in the U.S. Property-Liability Insurance Industry,” (2011), Journal of Financial Services Research 39: 119-144 (sole-authored)
• “Capital-based Regulation, Portfolio Risk and Capital Determination: Empirical Evidence from the U.S. Property-Liability Insurers,” (2010), Journal of Banking and Finance 34: 2450-2461 (sole-authored)
• “A Versatile Copula and its Application to Risk Measures,” (2010), with Eun-Joo Lee and Seung-Hwan Lee, International Journal of Business and Economics 9: 215-233

Awards

• Dean’s Summer Research Award, Business School, University of Colorado Denver, 2017
• Summer Research Grant Award, Business School, University of Colorado Denver, 2016
• Artistic and Scholarly Development Research Grant, Illinois Wesleyan University, 2008 - 2012
• Geneva Association/International Insurance Society Research Excellence Award, 2007