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Do related party transactions promote or depress a firm's investment in organization capital?
- Authors
- Shin, Ilhang; Lee, Hansol
- Issue Date
- Jul-2023
- Publisher
- ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
- Keywords
- Related party transactions; organization capital; investment; intangible assets; intangible capital
- Citation
- APPLIED ECONOMICS, v.55, no.31, pp.3661 - 3674
- Journal Title
- APPLIED ECONOMICS
- Volume
- 55
- Number
- 31
- Start Page
- 3661
- End Page
- 3674
- ISSN
- 0003-6846
- Abstract
- We examine whether related party transactions influence a firm's investment in organization capital, using a sample of Korean firms from 2001 to 2020. Given that the high magnitude of related party transactions increases a firm's dependence on the captive market within related parties, we hypothesize that a firm's incentives to invest in intangible capital are low when there are heavy related party transactions. We find the negative relationship between related party transactions and a firm's investment in organization capital, consistent with the notion that related party transactions significantly impact the firm's operations. We also find that such a relationship is more pronounced for firms in the high-tech industry and those that are financially weak.
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Related Researcher
- Shin, Il Hang
- Business Administration (Divison of Business Administration)