@article{ART001154917},
author={곽만순},
title={Regulation on Equity Investment and Firm Investment in Korea Conglomerates},
journal={Journal of Regulation Studies},
issn={1738-7132},
year={2006},
volume={15},
number={1},
pages={135-156}
TY - JOUR
AU - 곽만순
TI - Regulation on Equity Investment and Firm Investment in Korea Conglomerates
JO - Journal of Regulation Studies
PY - 2006
VL - 15
IS - 1
PB - 한국규제학회
SP - 135
EP - 156
SN - 1738-7132
AB - The effects of regulation on equity investment and several related hypothesis are examined. The hypothesis that frequent policy changes on equity investment might hinder the firm investment and other related hypotheses are examined. At the same time whether the regulation on equity investment had dampen the firm investment when that regulation is actually binding is tested. In addition, the effects of regulation on equity investment on other firms’ investment are also examined. The empirical test failed to find the specific relations between the firm investment and regulation on equity investment in Korean conglomerates. In spite of these empirical results this study argues that the Korean Fair Trade Commission should abolish the regulation on equity investment since it is hard to find solid rationale to maintain the ex ante regulation. This study suggests that the problems related with the cross share holding among subsidiaries including interest conflicts between shareholders should be solved by reinforcing the market forces in financial market as well as M&A market, and by taking additional measures to strengthen the transparency of the firm as well as the corporate governance structure.
KW - Regulation on Equity Investment;Firm Investment;Tobin's Q;Korean Conglomerate
DO -
UR -
ER -
곽만순. (2006). Regulation on Equity Investment and Firm Investment in Korea Conglomerates. Journal of Regulation Studies, 15(1), 135-156.
곽만순. 2006, "Regulation on Equity Investment and Firm Investment in Korea Conglomerates", Journal of Regulation Studies, vol.15, no.1 pp.135-156.
곽만순 "Regulation on Equity Investment and Firm Investment in Korea Conglomerates" Journal of Regulation Studies 15.1 pp.135-156 (2006) : 135.
곽만순. Regulation on Equity Investment and Firm Investment in Korea Conglomerates. 2006; 15(1), 135-156.
곽만순. "Regulation on Equity Investment and Firm Investment in Korea Conglomerates" Journal of Regulation Studies 15, no.1 (2006) : 135-156.
곽만순. Regulation on Equity Investment and Firm Investment in Korea Conglomerates. Journal of Regulation Studies, 15(1), 135-156.
곽만순. Regulation on Equity Investment and Firm Investment in Korea Conglomerates. Journal of Regulation Studies. 2006; 15(1) 135-156.
곽만순. Regulation on Equity Investment and Firm Investment in Korea Conglomerates. 2006; 15(1), 135-156.
곽만순. "Regulation on Equity Investment and Firm Investment in Korea Conglomerates" Journal of Regulation Studies 15, no.1 (2006) : 135-156.