دانلود مقاله ISI انگلیسی شماره 11845
عنوان فارسی مقاله

تاثیر مالکیت خانواده و ساختار سرمایه در عملکرد بهره وری از شرکت های تولیدی کره ای: حکومت شرکت ها و "مشکل chaebol"

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
11845 2006 26 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
The impact of family ownership and capital structures on productivity performance of Korean manufacturing firms: Corporate governance and the “chaebol problem”
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of the Japanese and International Economies, Volume 20, Issue 2, June 2006, Pages 209–233

کلمات کلیدی
- اداره امور شرکت ها - تمرکز مالکیت خانواده - خطر اخلاقی - کره - مجموع - ساختار سرمایه
پیش نمایش مقاله
پیش نمایش مقاله تاثیر مالکیت خانواده و ساختار سرمایه در عملکرد بهره وری از شرکت های تولیدی کره ای: حکومت شرکت ها و "مشکل chaebol"

چکیده انگلیسی

This paper examines the relationship between corporate governance and productivity performance, focusing on family ownership and capital structure. Paying particular attention to chaebols, or large business groups with entrenched family control, diversified business structure, and heavy debt-dependence, we find the positive relationship between family ownership concentration and productivity performance to be much stronger in chaebol firms than in non-chaebol firms. Moreover, high debt reliance (or low equity–asset ratio) is shown to be negatively related to productivity performance in non-chaebol firms but positively in chaebol firms. J. Japanese Int. Economies20 (2) (2006) 209–233.

مقدمه انگلیسی

Since the Asian financial crisis of 1997, the issue of corporate governance has become a subject of active policy and academic debate. Many have pointed out the deficiencies in the corporate governance systems plaguing many of the crisis-stricken countries as the root cause of weakened fundamentals and poor economic performance. However, direct evidence on the effects of different governance systems on corporate performance and competitiveness is still sparse. This paper provides empirical evidence on the link between corporate governance and corporate performance.

نتیجه گیری انگلیسی

This paper has examined the impact of controlling family's block ownership and capital structure on firm-level productivity performance. Using the data on Korean manufacturing firms from 1991 to 1998, we found evidence that family ownership concentration is associated positively with firm-level productivity performance. This finding is consistent with the hypothesis that ownership concentration leads not only to greater convergence of interest between the controlling shareholder and other shareholders, but also to greater investment in firm-specific investments (perhaps, such as R & D and human capital investments) that results in a better long-term productivity performance. A significant positive relationship between equity ratio and productivity performance was also found, suggesting that equity governance allows greater flexibility and discretion, leading to greater innovative activities than debt governance.

خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.