A Study on the Effect of Corporate Governance on Corporate Performance and Market Evaluation

• 발행기관: 한국자료분석학회
• 저자명: 이장우(Jang Woo Lee)
• 간행물 정보: 『Journal of The Korean Data Analysis Society (JKDAS)』Vol.17 No.6, 2889~2899쪽, 전체 11쪽
• 주제분류: 자연과학 > 통계학
• 파일형태: PDF
• 발행일자: 2015.12.30

영문 초록

This is a study on whatever effect corporate governance has on corporate performance and market evaluation. We take Korea corporate governance index as key explanatory variable. We document that better governance is strongly likely lead to better corporate performance, good governance is positively and significantly related to both market evaluation and corporate performance. Foreign share is also positively and significantly related to both market evaluation and corporate performance. Ownership concentration is negatively and significantly related to market evaluation, but is positively and significantly related to corporate performance. Institutional share is positively and significantly related to both market evaluation and corporate performance. Chaebol affiliation is positively and significantly related to both market evaluation, but is negatively and significantly related to corporate performance. This paper adds empirical evidence on Jensen and Meckling’s theory (1976) and subsequent researches.

목차

1. Introduction and Motivation

2. Literature Review and Hypotheses to be Tested

3. Data and Analytic Methodology

4. Results of Analysis

5. Conclusion and Discussion

References

키워드

Corporate governance index market evaluation corporate performance foreign share chaebol affiliation