Owner-Managers and Firm Performance during the Asian and Global Financial Crises: Evidence from Korea

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We examine the performance of the Korean owner-managers during the 1997−1998 Asian financial crisis and the 2008−2009 global financial crisis to establish whether they overcome the unexpected exterior shocks better than employed managers. We find that the owner-managers record a significantly greater performance during the crises, and especially during the latter period. Moreover, our results suggest that such a tendency comes from the owner-managers’ superior investment decisions. Our paper thus highlights the role of owner-managers by studying their performance during the Korean economic crisis periods. (JEL G01, G32, G34)
Publisher
ROUTLEDGE JOURNALS
Issue Date
2019-01
Language
English
Article Type
Article
Citation

APPLIED ECONOMICS, v.51, no.6, pp.611 - 623

ISSN
0003-6846
DOI
10.1080/00036846.2018.1502870
URI
http://hdl.handle.net/10203/248991
Appears in Collection
MT-Journal Papers(저널논문)
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