Corporate governance and firm performance: Evidence from Korea during the global financial crisis기업지배구조와 기업성과에 대한 연구: 세계금융위기의 한국 사례를 중심으로

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This paper examines the relationship between corporate governance and Korean firm performance during the Global Financial crisis. Using 557 Korean firm-specific data on corporate governance in terms of ownership structure, we found that foreign investor ownership and blockholder ownership have a positive relationship with firm performance during the global financial crisis while minority interest ownership exhibits a negative relationship. We explain that foreign investors’ objectivity and expertise allow the investment to beat the market and that blockholder ownership provides protection against expropriation of minority interest. Additionally, we observe how particular characteristics of firms such as chaebol and board committee index affect such relationship. Overall, this study emphasizes the importance of ownership structure in terms of corporate governance especially in times of crises.
Advisors
Han, Seung-Hunresearcher한승헌
Description
한국과학기술원 : 기술경영학과,
Publisher
한국과학기술원
Issue Date
2014
Identifier
592259/325007  / 020124564
Language
eng
Description

학위논문(석사) - 한국과학기술원 : 기술경영학과, 2014.8, [ ii, 48p. ]

Keywords

corporate governance; 세계금융위기; 소액주주; 대주주; 외국인 주주; 기업지배구조; ownership structure; foreign investor ownership; blockholder ownership; the Global financial crisis

URI
http://hdl.handle.net/10203/197944
Link
http://library.kaist.ac.kr/search/detail/view.do?bibCtrlNo=592259&flag=dissertation
Appears in Collection
ITM-Theses_Master(석사논문)
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