Financial Determinants of Profitability Indicators for the Firms Listed in the KOSPI Market

김한준,

doi:10.16980/jitc.10.2.201404.169

thejournalofinternationaltradecommerce

2014

DOI: 10.16980/jitc.10.2.201404.169

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Financial Determinants of Profitability Indicators for the Firms Listed in the KOSPI Market

김한준 김한준¹

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Cited by 3 publications

References 11 publications

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Investigations on the Financial Determinants of Profitability for Korean Chaebol Firms by applying Conditional Quantile Regression (CQR) Model

Kim¹

2014

The Journal of the Korea Contents Association

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This study investigated one of the contemporary issues in the Korean capital market and two hypotheses of concern were tested on the financial determinants of profitability for the firms belonging to the Korean chaebols during the era of the post-global financial turmoil. The first hypothesis applying conditional quantile regression (CQR) estimation provided the evidence that leverage ratio, fixed asset utilization, and foreign ownership among the nine quantitative explanatory variables, had overall statistical significance relative to the book-valued profitability measure, while additional variables such as a firm's size, fixed and a proxy for the type of exchange market showed their strong impacts on the market-valued profitability indicator. Concerning the formulated 'extended' DuPont system, only two components of EBITDAEBIT and EMULTIPLIER revealed their prominent influence on ROE (Return on Equity) over the two tested periods (the years 2008 and 2012).

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Investigations on the Financial Determinants of Profitability for Korean Chaebol Firms by applying Conditional Quantile Regression (CQR) Model

Kim¹

2014

The Journal of the Korea Contents Association

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Further Investigations on the Financial Characteristics of Cash Reserves for the Chaebol Firms in the Korean Capital Markets

Kim¹

2015

The Journal of the Korea Contents Association

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This study examined one of the contemporary financial aspects, the level of corporate cash holdings for the firms belonging to the chaebols in the Korean capital markets. Being accompanied by various alternative econometric methodologies such as static and dynamic panel data model, stepwise OLS, and Fama-Macbeth modelm this research extended the preceding Kim's study (2015) in anticipation of validating the results to identify any financial factors which may significantly affect the chaebol firms' cash reserves. Several financial characteristics such as CASHFLOW, MVBV, REINVEST, and AGENCY, were found to be statistically significant factors on the level corporate liquidity, along with CCC as cash conversion cycle in the models. It may be plausible that any outcomes of this study may be applied to enhance the efficiency of financial strategies of the chaebol firms on cash holdings, thereby expediting the development of the domestic capital markets status quo toward the advanced one in the market classification.

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Searching for Growth Engine: For the Firms Belonging to the Chaebol in the Korean Capital Markets

Kim

2014

Journal of the Korea Academia-Industrial cooperation Society

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Financial Determinants of Profitability Indicators for the Firms Listed in the KOSPI Market

Cited by 3 publications

References 11 publications

Investigations on the Financial Determinants of Profitability for Korean Chaebol Firms by applying Conditional Quantile Regression (CQR) Model

Investigations on the Financial Determinants of Profitability for Korean Chaebol Firms by applying Conditional Quantile Regression (CQR) Model

Further Investigations on the Financial Characteristics of Cash Reserves for the Chaebol Firms in the Korean Capital Markets

Searching for Growth Engine: For the Firms Belonging to the Chaebol in the Korean Capital Markets

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