학술논문
The Effect of U.S. Protectionist Trade Policy on Foreign Ownership: A Study of Korea’s Data Set
이용수 19
- 영문명
- 발행기관
- 한국무역학회
- 저자명
- Hyun-Uk Jung Tae-Hyoung Mun
- 간행물 정보
- 『Journal of Korea Trade (JKT)』Vol.23 No.7, 83~95쪽, 전체 13쪽
- 주제분류
- 경제경영 > 무역학
- 파일형태
- 발행일자
- 2019.11.30
4,360원
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국문 초록
영문 초록
Purpose - This study analyzed the effect of the Trump Government’s protectionist trade policies on foreign ownership. Specifically, this study empirically analyzes the hypothesis that foreign ownership will decrease after the Trump Government rather than before the Trump Government.
Design/methodology - The hypothesis of this study is based on the expectation that US protection trade policy will negatively affect the profitability of Korean companies. The dependent variable in this study is the foreign ownership ratio, and the independent variable is a dummy variable representing before and after the Trump Government. Multiple regression analysis was performed, including the control variables suggested in previous studies related to foreign ownership.
Findings - As a result, foreign ownership increased after the Trump Government rather than before the Trump Government. This study further analyzes whether the main variables affecting foreign investor’s decision-making are differences before and after Trump Government. The export ratio, profitability and dividends did not differ before and after Trump Government. However, the level of information asymmetry decreased after the Trump Government than before the Trump Government. This suggests that US protection trade policies do not adversely affect the profitability of Korean companies. However, Korean firms are improving their information environment because US protectionist trade policies can lower profitability and negatively impact capital raising. In this regard, the foreign ownership ratio seems to differ before and after the Trump Government.
Originality/value - This study contributes in that it presents data that US protectionist policies can affect Korean corporate governance. This study has implications from the short-term analysis of US protection trade policy.
목차
1. Introduction
2. Preliminary Research and Hypothesis Setting
3. Research Methodology
4. Empirical Analysis Results
5. Conclusion
References
해당간행물 수록 논문
- The Effect of U.S. Protectionist Trade Policy on Foreign Ownership: A Study of Korea’s Data Set
- An Empirical Study on the Effects of Export Promotion on Korea-China-Japan Using Logistics Performance Index (LPI)
- An Empirical Study on Consumers’ Intention to Use a Global Business-to-Consumer Sharing Platform
- Capital Outflow Waves in the Korean Economy during Financial Turmoil: Its Implications and Policy Suggestions
- With Regard to Local Contents Rule (Non-tariff Barriers to Trade): After Announcing the Shanghai-Hong Kong Stock Connect, is the Chinese Capital Market Suitable for Korean Investors?
- Assessment of Competitiveness Improvement on Multinational Enterprises based in Korea
- The Moderating Effect of Internal Control on Performance of Cross-Border M&A under the Uncertainty of Economic Policy: Evidence from China
- A Study on Port Improvement with the Activation of Cross-Border E-Commerce: A Study of Pyeongtaek Port
- The Impact of ICT Goods Imports on Economic Growth: Evidence from Asia-Pacific Countries
- The Effects of International Entrepreneurial Orientation and Entrepreneurial Activities on SMEs’ Export Performance
- Does National Distance Affect Different Industries in Different Ways? A Test of the Ghemawat CAGE Model
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