@article{ART001507470},
author={Joo Hyun Cho and 이찬호},
title={The Effect of Land Revaluation on Stock Price during Economic Crisis},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2010},
volume={20},
number={2},
pages={7-28}
TY - JOUR
AU - Joo Hyun Cho
AU - 이찬호
TI - The Effect of Land Revaluation on Stock Price during Economic Crisis
JO - Korea Real Estate Review
PY - 2010
VL - 20
IS - 2
PB - korea real estate research institute
SP - 7
EP - 28
SN - 2092-5395
AB - This study has analyzed how real estate revaluation which had been allowed ahead of the compulsory introduction on the International Financial Reporting Standards (IFRS) in 2011 influences the stock price. In order to analyze the more obvious effect on stock price caused by the real estate revaluation, first, we separated the year 1998 which was just after the financial crisis from the year 2008 which accepted the early introduction of International Financial Reporting Standards.
In addition, we analyze the effect of stock price caused by real estate revaluation in four kinds of situations through distinguishing the KOSPI-listed corporations from the KOSDAQ- listed companies each year.
The results of analysis are mainly summarized as the followings.
First, in the analysis of the relationship between real estate revaluation and stock price on the KOSPI-listed corporations and KOSDAQ-listed companies in each year 1998 and 2008, the positive(+) relationship was found between real estate revaluation and stock price in all circumstances except for 1998 KOSDAQ-listed companies.
Second, to analyze whether the positive(+) relationship between the real estate revaluation and the stock price is different according to company characteristics or not, the model has included debt ratio, ratio of land and condition of net loss during the term as variables of company characteristics, we found that the higher is debt ratio, the greater is the improvement effect of stock price caused by real estate revaluation.
Third, according to the analysis of the relationship between real estate revaluation and future stock price, the significant positive(+) relationship was found in KOSPI-listed corporations only in one year after revaluation.
KW - land revaluation;stock price;economic crisis;international financial reporting standards
DO -
UR -
ER -
Joo Hyun Cho and 이찬호. (2010). The Effect of Land Revaluation on Stock Price during Economic Crisis. Korea Real Estate Review, 20(2), 7-28.
Joo Hyun Cho and 이찬호. 2010, "The Effect of Land Revaluation on Stock Price during Economic Crisis", Korea Real Estate Review, vol.20, no.2 pp.7-28.
Joo Hyun Cho, 이찬호 "The Effect of Land Revaluation on Stock Price during Economic Crisis" Korea Real Estate Review 20.2 pp.7-28 (2010) : 7.
Joo Hyun Cho, 이찬호. The Effect of Land Revaluation on Stock Price during Economic Crisis. 2010; 20(2), 7-28.
Joo Hyun Cho and 이찬호. "The Effect of Land Revaluation on Stock Price during Economic Crisis" Korea Real Estate Review 20, no.2 (2010) : 7-28.
Joo Hyun Cho; 이찬호. The Effect of Land Revaluation on Stock Price during Economic Crisis. Korea Real Estate Review, 20(2), 7-28.
Joo Hyun Cho; 이찬호. The Effect of Land Revaluation on Stock Price during Economic Crisis. Korea Real Estate Review. 2010; 20(2) 7-28.
Joo Hyun Cho, 이찬호. The Effect of Land Revaluation on Stock Price during Economic Crisis. 2010; 20(2), 7-28.
Joo Hyun Cho and 이찬호. "The Effect of Land Revaluation on Stock Price during Economic Crisis" Korea Real Estate Review 20, no.2 (2010) : 7-28.
