| アイテムタイプ |
デフォルトアイテムタイプ（フル）その２(1) |
| 公開日 |
2017-05-20 |
| タイトル |
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|
タイトル |
Determinants of Family Ownership: The Choice between Control and Performance |
|
言語 |
en |
| 作成者 |
Jang, Hasung
Kang, Hyung-cheol
Park, Kyung Suh
|
| 寄与者 |
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寄与者タイプ |
Editor |
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|
姓名 |
Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University |
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言語 |
en |
| アクセス権 |
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アクセス権 |
open access |
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アクセス権URI |
http://purl.org/coar/access_right/c_abf2 |
| 内容記述 |
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|
内容記述タイプ |
Other |
|
内容記述 |
Revision in April 2005 |
|
言語 |
en |
| 内容記述 |
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|
内容記述タイプ |
Abstract |
|
内容記述 |
This paper analyzes what determines ownership structure of family firms in Korea. Our analysis shows that control is as important a factor as performance in the determination of whether a family in Korea chooses to own a firm. The controlling family prefers to own shares of de facto holding companies because they provide control over affiliated companies and firms that perform well. The family, however, allows its affiliated companies to own more shares of firms that perform poorly and of firms that do not provide the family with power to control the firm. In addition, controlling families own fewer shares of firms that make bond investments in affiliated companies because bond holding does not provide control. We carry out logit regressions for firms without family ownership and for firms with a positive family ownership. The family chooses not to own shares regardless of a firm's performance if the firm does not provide significant control over affiliated companies. We also show that the family values its control more for closely held firms. |
| 出版者 |
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出版者 |
Institute of Economic Research, Hitotsubashi University |
| 日付 |
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|
日付 |
2005-10 |
|
日付タイプ |
Issued |
| 言語 |
|
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言語 |
eng |
| 資源タイプ |
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|
資源タイプ識別子 |
http://purl.org/coar/resource_type/c_18gh |
|
資源タイプ |
technical report |
| 出版タイプ |
|
|
出版タイプ |
VoR |
|
出版タイプResource |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
| 関連情報 |
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関連タイプ |
isPartOf |
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|
関連名称 |
CEI Working Paper Series ; No. 2005-5 |
| 関連情報 |
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|
識別子タイプ |
URI |
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|
関連識別子 |
http://cei.ier.hit-u.ac.jp/index.html |
| 収録物識別子 |
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収録物識別子タイプ |
NCID |
|
収録物識別子 |
AA11590659 |
| ページ数 |
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ページ数 |
50 |
wp2005-5a.pdf (380784 bytes)
