한국의 수출지향형 기업에서 현금유동성 결정정보에 관한 연구

• 영문명: A Study on the Determination Information of Cash holdings in Korean Export-Oriented Companies
• 발행기관: 한국통상정보학회
• 저자명: 김종택(Jong-Taek Kim) 신연수(Yeon-Soo Shin) 신용재(Yong-Jae Shin)
• 간행물 정보: 『통상정보연구』제11권 제1호, 157~176쪽, 전체 20쪽
• 주제분류: 사회과학 > 무역학
• 파일형태: PDF
• 발행일자: 2009.03.30

영문 초록

This study analyzed the information factors which determine cash liquidity in Korean export-oriented companies. In this paper, cash liquidity means the ratio of the value of cash or cash equivalent to the asset value subtracted marketable securities value from total asset value. The empirical test shows that main information factors are the size of company, the growth opportunity of company, the volatility of operating cash flows and free cash flows, the credit yield spread of company, the debt ratio, the turnover ratio of cash flows and free cash flows, and the estimate of bankruptcy that amounts to the inverse number of Z score. In summary, the size of company, debt ratio, turnover ratio of cash flows and free cash flows, and Z-score have negative influence on the cash liquidity of Korean export-oriented companies. but the volatility of operating cash flows affect the cash liquidity positively.

목차

Ⅰ. 서론

Ⅱ. 선행연구의 고찰

Ⅲ. 연구설계

Ⅳ. 실증분석의 결과 및 해석

Ⅴ. 요약 및 결론

참고문헌

부록

Abstract

키워드

Cash holding Cash liquidity Cash Volatility Debt Ratio Z-score Export-Oriented