소유 경영자가 내재 자기자본비용에 미치는 영향: 재벌기업을 중심으로
DC Field | Value | Language |
---|---|---|
dc.contributor.author | 박수연 | - |
dc.contributor.author | 전홍민 | - |
dc.date.accessioned | 2021-11-08T07:40:16Z | - |
dc.date.available | 2021-11-08T07:40:16Z | - |
dc.date.issued | 2021-10 | - |
dc.identifier.issn | 1226-1874 | - |
dc.identifier.uri | https://scholarworks.bwise.kr/cau/handle/2019.sw.cau/51135 | - |
dc.description.abstract | This paper examines whether and how different CEO types affect the implied cost of equity capital in Korean chaebol firms. Using 946 firm-year observations of KOSPI-listed firms for the period 2005-2015, a significant positive correlation was observed between chaebol firms with owner-managers and the implied cost of equity capital. This implies that investors regard the agency problems of Korean chaebol firms that have owner-managers as a risk premium factor that requires a higher cost of capital. Moreover, the positive association between chaebol firms that have owner-managers and the implied cost of equity capital was more pronounced in firms with a low proportion of outside directors and high uncertainty period. This paper has potential implications for related literature in that owner-managers, internal governance, and education level may significantly influence the cost of equity capital in Korean chaebol firms. | - |
dc.format.extent | 23 | - |
dc.language | 영어 | - |
dc.language.iso | ENG | - |
dc.publisher | 한국경영학회 | - |
dc.title | 소유 경영자가 내재 자기자본비용에 미치는 영향: 재벌기업을 중심으로 | - |
dc.title.alternative | Owner-Managers and the Implied Cost of Equity Capital: Evidence from Chaebol Firms | - |
dc.type | Article | - |
dc.identifier.doi | 10.17287/kmr.2021.50.5.1255 | - |
dc.identifier.bibliographicCitation | 경영학연구, v.50, no.5, pp 1255 - 1277 | - |
dc.identifier.kciid | ART002768161 | - |
dc.description.isOpenAccess | N | - |
dc.citation.endPage | 1277 | - |
dc.citation.number | 5 | - |
dc.citation.startPage | 1255 | - |
dc.citation.title | 경영학연구 | - |
dc.citation.volume | 50 | - |
dc.publisher.location | 대한민국 | - |
dc.subject.keywordAuthor | owner-managers | - |
dc.subject.keywordAuthor | agency problem | - |
dc.subject.keywordAuthor | proportion of outside directors | - |
dc.subject.keywordAuthor | uncertainty period | - |
dc.subject.keywordAuthor | implied cost of equity capital | - |
dc.description.journalRegisteredClass | kci | - |
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