The Validation of Correlation between Firm Value of KOSPI Listed Companies and Global Value Chain
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This study verified the correlation of accounting information affecting the enhancement of global firm value of domestic KOSPI200 companies in the context of the global value chain(GVC) in the international multilateral trading system. After factoring the accounting information of KOSPI200 companies to derive highly correlated variables, a study was conducted to formulate an evaluation model that can measure the global firm value of domestic companies. The KOSPI200 is a stock index developed as a trading for stock index futures and options. It is an index representing the aggregate market value of 200 stocks selected from the stock market listed on the Korea Exchange(KRX) in consideration of market representativeness. In this study, accounting information of 180 companies, excluding construction and finance, among the KOSPI200 companies was extracted and analyzed in multiple regression to verify the correlation of global firm values. As a result of the multiple regression analysis, the global firm value was verified to have a significant correlation between equity capital, sales, and operating profit, and it was analyzed that other variables, non-financial information, could be added to the evaluation model. As a result, it was analyzed that the export-driven domestic manufacturing industry actively participated in the global division of business considering GVC in order to create global firm value.
Abstract
This study verified the correlation of accounting information affecting the enhancement of global firm value of domestic KOSPI200 companies in the context of the global value chain(GVC) in the international multilateral trading system. After factoring the accounting information of KOSPI200 companies to derive highly correlated variables, a study was conducted to formulate an evaluation model that can measure the global firm value of domestic companies. The KOSPI200 is a stock index developed as a trading for stock index futures and options. It is an index representing the aggregate market value of 200 stocks selected from the stock market listed on the Korea Exchange(KRX) in consideration of market representativeness. In this study, accounting information of 180 companies, excluding construction and finance, among the KOSPI200 companies was extracted and analyzed in multiple regression to verify the correlation of global firm values. As a result of the multiple regression analysis, the global firm value was verified to have a significant correlation between equity capital, sales, and operating profit, and it was analyzed that other variables, non-financial information, could be added to the evaluation model. As a result, it was analyzed that the export-driven domestic manufacturing industry actively participated in the global division of business considering GVC in order to create global firm value.
참고문헌 (20)
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