Chaebols' Ownership and Governance Structure - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Chaebols' Ownership and Governance Structure write by Sea-Jin Chang. This book was released on 2003. Chaebols' Ownership and Governance Structure available in PDF, EPUB and Kindle.
War on Family Property Rights
War on Family Property Rights - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook War on Family Property Rights write by Ingyu Oh. This book was released on 2022-12-26. War on Family Property Rights available in PDF, EPUB and Kindle. As of 2020 South Korea has 14 firms listed on the global Fortune 500, including Samsung, Hyundai, SK, POSCO and LG. The country along with Japan is also one of the only two countries in Asia that are members of the OECD and its Development Assistance Committee (DAC) simultaneously. Furthermore, Korea boasts of its membership in the seven-country 50-30 Club (countries with a population of more than 50 million and a GDP of $30,000 per capita). However, unlike its official status as one of the most developed economies in the world, it still suffers from the backward struggle between the state and the family firms over the issue of property rights and family successions. The corporate governance issue has damaged the reputation of Korean chaebols (family conglomerates) for many decades as founders, and their families had been imprisoned and/or fined for violating inheritance tax laws and related laws associated with the issue of protecting their family ties. The democratically elected governments in Korea since 1987 have tried to reform the chaebol governance structures to ease asset concentration by family members, although many of those have failed due to corruptive practices between the state and the chaebol. This book spells out the current governance problems within the chaebol, state reform policies and both success and failures of the reforms. It was originally published as a special issue of the Asia Pacific Business Review.
Financial Crisis and Transformation of Korean Business Groups
Financial Crisis and Transformation of Korean Business Groups - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Crisis and Transformation of Korean Business Groups write by Sea-Jin Chang. This book was released on 2003-04-28. Financial Crisis and Transformation of Korean Business Groups available in PDF, EPUB and Kindle. Sea-Jin Chang argues that the Korean financial crisis of 1997 was due to the inertia of both the business groups known as chaebols and the Korean government which prevented adaptation to changing external environments. Once the Korean government stopped central economic planning and pursued economic liberalization in the 1980s, the transition created a void under which neither the government nor markets could monitor chaebols' investment activities. The intricate web of cross-shareholding, debt guarantees, and vertical integration resulted in extensive cross-subsidization and kept chaebols from shedding unprofitable businesses. The government's continued interventions in banks' lending practices created 'moral hazards' for both chaebols and banks. This treatment demonstrates how the structure of chaebols later inhibited other adaptations and for all practical purposes became nearly dysfunctional. The book argues that restructuring of chaebols should focus on improving corporate governance systems. After such restructuring, the author predicts, chaebols will re-emerge as stronger, more focused global players.
Corporate Governance of Newly Privatized Firms
Corporate Governance of Newly Privatized Firms - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Corporate Governance of Newly Privatized Firms write by Il Chong Nam. This book was released on 2004. Corporate Governance of Newly Privatized Firms available in PDF, EPUB and Kindle.
The Impact of Family Ownership and Capital Structures on Productivity Performance of Korean Manufacturing Firms
The Impact of Family Ownership and Capital Structures on Productivity Performance of Korean Manufacturing Firms - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Impact of Family Ownership and Capital Structures on Productivity Performance of Korean Manufacturing Firms write by Euysung Kim. This book was released on 2005. The Impact of Family Ownership and Capital Structures on Productivity Performance of Korean Manufacturing Firms available in PDF, EPUB and Kindle. This paper examines the relationship between corporate governance and productivity performance, focusing on family ownership and capital structure. Paying particular attention to chaebols, or large business groups with entrenched family control, diversified business structure, and heavy debt-dependence, we find the positive relationship between family ownership concentration and productivity performance to be much stronger in chaebol firms than in non-chaebol firms. Moreover, high debt reliance (or low equity-asset ratio) is shown to be negatively related to productivity performance in non-chaebol firms but positively in chaebol firms.
