The Effect of Corporate Disclosure on Business Performance: A Comparative Study of Korean Chaebols
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Employing the panel data across the years 2003, 2004, and 2005 on Korea’s top 29 Chaebols, the regression results suggest that transparency can provide a substantial contribution to business performance; the market value-to-book value ratio and return on equity. It is also evident that business performance is more elastic with respect to transparency in the second largest Chaebol group (i.e., the 6th to 16th largest Chaebols in terms of the mean value of total assets for 2003-2005) than in the other groups. In order to raise business performance, therefore, the second largest Chaebol group should enhance transparency.
Abstract
Employing the panel data across the years 2003, 2004, and 2005 on Korea’s top 29 Chaebols, the regression results suggest that transparency can provide a substantial contribution to business performance; the market value-to-book value ratio and return on equity. It is also evident that business performance is more elastic with respect to transparency in the second largest Chaebol group (i.e., the 6th to 16th largest Chaebols in terms of the mean value of total assets for 2003-2005) than in the other groups. In order to raise business performance, therefore, the second largest Chaebol group should enhance transparency.
참고문헌 (20)
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