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논문검색

How Corporate Governance Influences Business Performance: Evidence Using Korea's Chaebol Panel Data

원문정보

Chul-Kyu Kang, Jae-Hyung Lee

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초록

영어

Using available panel data on Korea's 29 Chaebols covering the years 2003∼2005, the empirical results suggest that each of the five corporate governance indicators (the corporate governance composite index, the shareholder rights subindex, the board structure subindex, the board procedure subindex, and the transparency subindex) makes a substantial contribution to higher business performance measured as the market value‐to‐book value ratio for firm valuation and as return on equity for management performance. On the basis of the regression results, transparency is the most important factor in explaining the business performance of Korea's Chaebols.

목차

Abstract
 I. Introduction
 II. Literature Review
 III. Analytical Framework
 IV. Data
 V. Estimation Results
 VI. Summary of Principal Findings
 Appendixes
 References

저자정보

  • Chul-Kyu Kang 강철규. Professor, School of Economics, University of Seoul
  • Jae-Hyung Lee 이재형. Professor, BK2l, Department of Economics, Seoul National University

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