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Characteristics and Economic Efficiency of the Venture Companies in Korea : Comparison with the Chaebols and Other Traditional Firms
DC Field | Value | Language |
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dc.contributor.author | Lee, Keun | - |
dc.contributor.author | Kim, Sungsoo | - |
dc.date.accessioned | 2009-01-23T05:56:39Z | - |
dc.date.available | 2009-01-23T05:56:39Z | - |
dc.date.issued | 2000-07 | - |
dc.identifier.citation | Seoul Journal of Economics, Vol.13 No.3, pp. 335-360 | - |
dc.identifier.issn | 1225-0279 | - |
dc.identifier.uri | https://hdl.handle.net/10371/1212 | - |
dc.description.abstract | This paper focuses on the emergence of a new style of firms in the Korean economy, so-called venture companies, and provides a comparative analysis of the behavior and economic efficiency of the venture companies relative to chaebols and other old firm s listed in the Korea Stock Exchange. The paper employs an econometric technique to compare the productive efficiency of ventures, chaebols and non-chaebol firms in Korea, using panel data covering the 1996-9 period. The paper finds that the average level of productive efficiency of the ventures is the highest among the four types of firms compared, such as chaebols and non-chaebols in the KSE, and non-ventures in the Kosdaq market. The efficiency comparison suggests the following order of efficiency among the four subgroups of firms from the best to the worst; ventures, non-ventures, non-chaebols, and chaebols. The paper also finds that the estimated productive efficiency is an important determinant of profitability. When we control for productive efficiency, the capital-labor ratio, the debt-equity ratio, and asset growth, ventures' profitability is shown to be significantly higher than that of others firms. | - |
dc.language.iso | en | - |
dc.publisher | Institute of Economic Research, Seoul National University | - |
dc.subject | Ventures | - |
dc.subject | Chaebols | - |
dc.subject | Productive Efficiency | - |
dc.subject | Stochastic Production Function | - |
dc.title | Characteristics and Economic Efficiency of the Venture Companies in Korea : Comparison with the Chaebols and Other Traditional Firms | - |
dc.type | SNU Journal | - |
dc.contributor.AlternativeAuthor | 이근 | - |
dc.contributor.AlternativeAuthor | 김성수 | - |
dc.citation.journaltitle | Seoul Journal of Economics | - |
dc.citation.endpage | 360 | - |
dc.citation.number | 3 | - |
dc.citation.pages | 335-360 | - |
dc.citation.startpage | 335 | - |
dc.citation.volume | 13 | - |
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