S-Space College of Business Administration/Business School (경영대학/대학원) Dept. of Business Administration (경영학과) Theses (Master's Degree_경영학과)
외국인투자자와 한국기업의 배당정책의 관계에 대한 연구
The Impact Of Foreign Investors On Dividend Policy In Korea: The Moderating Role Of Chaebol Membership
- Professor Park Choelsoon
- 경영대학 경영학과
- Issue Date
- 서울대학교 대학원
- 학위논문 (석사)-- 서울대학교 대학원 : 경영학과, 2013. 8. 박철순.
- Little is known about how business group (Chaebol) affiliation affects dividend policy although many Korean firms belong to Chaebol. This study investigates the moderating effect of Korean Business Groups on the relationship between foreign investors ownership and dividend policy in Korea. Using sample Business Groups from 2008 to 2012 we find that Chaebol exert a significant impact on the relationship between foreign investor's ownership and dividend payout. This study shows the effect of Chaebol from the viewpoint of corporate governance in Korea and highlights the importance of studying further the agency problems that controlling shareholders present for minority shareholders, especially in business groups.