Pension Fund Monitoring and Corporate Debt Policy: Evidence from the Korean Market*

被引：1

作者：

Choi, Wonseok ^{[1
]}

Chung, Chune Young ^{[2
]}

Park, Jongchan ^{[3
]}

机构：

[1] Univ North Texas, Hlth Sci Ctr, Dept Hlth Behav & Hlth Syst, Denton, TX 76203 USA

[2] Chung Ang Univ, Coll Business & Econ, Sch Business Adm, 84 Heukseok Ro, Seoul 06974, South Korea

[3] Washington State Univ, Carson Coll Business, Pullman, WA 99164 USA

来源：

ASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES | 2021年 / 50卷 / 02期

基金：

新加坡国家研究基金会;

关键词：

Blockholding; Institutional monitoring; Korean market; Korean National Pension Service; Target capital structure; INSTITUTIONAL INVESTORS; CAPITAL STRUCTURE; CROSS-SECTION; OWNERSHIP; FIRMS; INFORMATION; GOVERNANCE; DECISIONS; DIRECTORS; HOLDINGS;

D O I：

10.1111/ajfs.12331

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We investigate whether the Korean National Pension Service, a corporate watchdog and major long-term investor in South Korea, positively affects corporate financial policy. The Korean National Pension Service is less likely to influence corporate financial policy even among firms with high uncertainty and information opacity, which increases the importance of large shareholders' monitoring role. Additionally, ownership by the Korean National Pension Service has statistically insignificant effects on firms' performance and financial soundness.

引用

页码：210 / 237

页数：28

共 50 条

[21] Corporate governance, product-market competition, and stock returns: evidence from the Korean market
Doowon Ryu
Doojin Ryu
Joon Ho Hwang
[J]. Asian Business & Management, 2017, 16 : 50 - 91
[22] Corporate governance, product-market competition, and stock returns: evidence from the Korean market
Ryu, Doowon
Ryu, Doojin
Hwang, Joon Ho
[J]. ASIAN BUSINESS & MANAGEMENT, 2017, 16 (1-2) : 50 - 91
[23] Do taxes affect corporate debt policy? Evidence from US corporate tax return data
Gordon, RH
Lee, Y
[J]. JOURNAL OF PUBLIC ECONOMICS, 2001, 82 (02) : 195 - 224
[24] Stock market listing and corporate policy: Evidence from reforms to Japanese corporate law
Orihara, Masanori
[J]. PACIFIC-BASIN FINANCE JOURNAL, 2017, 43 : 15 - 36
[25] Corporate Social Responsibility and Financial Performance: New Evidence from the Korean Market
Yoon, Bohyun
Lee, Jeong Hwan
Cho, Jin Hyung
[J]. SAGE OPEN, 2024, 14 (02):
[26] Corporate Environmental Responsibility and Firm Information Risk: Evidence from the Korean Market
Choi, Daeheon
Chung, Chune Young
Kim, Dongnyoung
Liu, Chang
[J]. SUSTAINABILITY, 2019, 11 (22)
[27] Is Earnings Quality Associated with Corporate Social Responsibility? Evidence from the Korean Market
Yoon, Bohyun
Kim, Byul
Lee, Jeong Hwan
[J]. SUSTAINABILITY, 2019, 11 (15)
[28] Does information quality matter in corporate innovation? Evidence from the Korean market
Amin, Md Ruhul
Chung, Chune Young
Kang, Sanggyu
[J]. ECONOMICS OF INNOVATION AND NEW TECHNOLOGY, 2023, 32 (01) : 92 - 112
[29] Effects of foreign ownership on payout policy: Evidence from the Korean market
Jeon, Jin Q.
Lee, Cheolwoo
Moffett, Clay M.
[J]. JOURNAL OF FINANCIAL MARKETS, 2011, 14 (02) : 344 - 375
[30] The Influence of Credit Scores on Dividend Policy: Evidence from the Korean Market
Kim, Taekyu
Kim, Injoong
[J]. JOURNAL OF ASIAN FINANCE ECONOMICS AND BUSINESS, 2020, 7 (02): : 33 - 42

← 1 2 3 4 5 →