Do related party transactions promote or depress a firm's investment in organization capital?

被引：0

作者：

Shin, Ilhang ^{[1
]}

Lee, Hansol ^{[2
]}

机构：

[1] Gachon Univ, Coll Business, Seongnam Si, South Korea

[2] Yonsei Univ, Sch Business, Seoul, South Korea

来源：

APPLIED ECONOMICS | 2023年 / 55卷 / 31期

关键词：

Related party transactions; organization capital; investment; intangible assets; intangible capital; IMPACT; PRODUCTIVITY; MANAGEMENT; COMPANIES; DYNAMICS;

D O I：

10.1080/00036846.2023.2174933

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We examine whether related party transactions influence a firm's investment in organization capital, using a sample of Korean firms from 2001 to 2020. Given that the high magnitude of related party transactions increases a firm's dependence on the captive market within related parties, we hypothesize that a firm's incentives to invest in intangible capital are low when there are heavy related party transactions. We find the negative relationship between related party transactions and a firm's investment in organization capital, consistent with the notion that related party transactions significantly impact the firm's operations. We also find that such a relationship is more pronounced for firms in the high-tech industry and those that are financially weak.

引用

页码：3661 / 3674

页数：14

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