Validation of Correlation between Firm Value of KOSDAQ Listed Companies and Global Value Chain
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This study verified the variables that affect the global firm value of Korean manufacturing companies as the Global Value Chain(GVC) was formed under the international multilateral trading system. The KOSDAQ listed companies were divided into two groups, GVC and non-GVC, and the Olson model was applied to the total capital and net income. And to verify the significance between GVC and firm value correlation, logit analysis was conducted with GVC as a dependent variable, and as an independent variable with firm value, sales, number of employees, and foreign ownership ratio. As a result of multiple regression analysis, the firm value was verified to have a significant correlation between total capital, net income, GVC, sales, number of employees and foreign ownership. In addition, the logit analysis showed that the firm value was significant with GVC. As a result of the verification, it was proved that the export-driven domestic manufacturing industry is creating the global firm value, which is a key factor to enhance the firm value.
Abstract
This study verified the variables that affect the global firm value of Korean manufacturing companies as the Global Value Chain(GVC) was formed under the international multilateral trading system. The KOSDAQ listed companies were divided into two groups, GVC and non-GVC, and the Olson model was applied to the total capital and net income. And to verify the significance between GVC and firm value correlation, logit analysis was conducted with GVC as a dependent variable, and as an independent variable with firm value, sales, number of employees, and foreign ownership ratio. As a result of multiple regression analysis, the firm value was verified to have a significant correlation between total capital, net income, GVC, sales, number of employees and foreign ownership. In addition, the logit analysis showed that the firm value was significant with GVC. As a result of the verification, it was proved that the export-driven domestic manufacturing industry is creating the global firm value, which is a key factor to enhance the firm value.
참고문헌 (18)
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