Browse

Evaluating the Post-Crisis Corporate Restructuring in Korea

Cited 0 time in Web of Science Cited 0 time in Scopus
Authors
Chang, HaJoon; Shin, JangSup
Issue Date
2002-04
Publisher
Institute of Economic Research, Seoul National University
Citation
Seoul Journal of Economics, Vol.15 No.2, pp. 245-276
Keywords
Corporate governanceCorporate FinanceFinancial crisis
Abstract
This paper assesses Korea's corporate reform programme implemented after the financial crisis in 1997. After critically reviewing the economic analyses that in formed the corporate reform programme, we look at the key corporate reform measures, especially those related to the chaebols in some detail. We look at the reduction in debt-equity ratio, the 'Big Deals, the 'Workout Programme, and the measures that are intended to improve corporate governance, such as the changes in fair trading regulation, accounting standards, financial regulation, and the internal governance system. We argue that, while the post- crisis reform programme has introduced some positive elements, it has been implemented at substantial costs and furthermore reduced the long-run dynamism of the economy by negatively affecting the corporate financing system.
ISSN
1225-0279
Language
English
URI
https://hdl.handle.net/10371/1266
Files in This Item:
Appears in Collections:
College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of Economics (SJE)Seoul Journal of Economics vol.15(2) (Summer 2002)
  • mendeley

Items in S-Space are protected by copyright, with all rights reserved, unless otherwise indicated.

Browse