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Further Investigations on the Financial Attributes of the Firms listed in the KOSDAQ Stock Market
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 Title & Authors
Further Investigations on the Financial Attributes of the Firms listed in the KOSDAQ Stock Market
Kim, Hanjoon;
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 Abstract
From the perspective of the domestic capital markets, there have been few researches on the financial characteristics of the firms belonging to the KOSDAQ(Korea Securities Dealers Automated Quotation) market, in comparison with those of the firms in the KOSPI. This study has performed three hypothesis tests to obtain the following results: By employing the `panel data` analysis, it was found that, for the book-value based leverage, all of the six proposed IDVs were statistically significant as the financial determinants of leverage, across the two proxies measuring profitability (i.e., PFT and ROE), while all of the IDVs except VOLATILITY, also seemed to be the attributes to explain the market based dependent variable in the model with the PFT. Moreover, there may be statistically significant (structural) changes (or quasi-experiment) ) between the pre- and post-U.S. financial crisis in the year of 2008, when measured the leverage with the market-value basis with utilizing the Chow F-test. Finally, based upon the logistic regression results, the probability for a firm to be classified into the Prime section in the KOSDAQ market, may be higher, as its profit margin and asset turnover increase.
 Keywords
KOSDAQ;Panel Data Analysis;Quasi-experiment;DuPont System;Korean Capital Markets;
 Language
English
 Cited by
1.
국제 금융위기 이후 KOSPI 상장회사들의 자본구조 결정요인 분석,김한준;

한국콘텐츠학회논문지, 2013. vol.13. 11, pp.829-844 crossref(new window)
2.
국내 충청권 기반 KOSDAQ 상장기업들의 수익성 결정요인 분석,김한준;

한국산학기술학회논문지, 2013. vol.14. 11, pp.5476-5487 crossref(new window)
3.
한국 재벌기업들의 수익성 결정요인에 대한 추세적 심층분석,김한준;

한국콘텐츠학회논문지, 2014. vol.14. 6, pp.367-384 crossref(new window)
4.
한국 재벌기업들의 현금유동성 수준 결정요인과 재무적 분석,김한준;

한국산학기술학회논문지, 2015. vol.16. 6, pp.3870-3881 crossref(new window)
1.
Financial Profile of Capital Structures for the Firms Listed in the KOSPI Market in South Korea, The Journal of the Korea Contents Association, 2013, 13, 11, 829  crossref(new windwow)
2.
A Review on the Financial Profile of Profitability for the KOSDAQ Listed Firms Headquartered in 'Chungcheong' province in the Republic of Korea, Journal of the Korea Academia-Industrial cooperation Society, 2013, 14, 11, 5476  crossref(new windwow)
3.
Further Analyses on the Contemporary Changes of Profitability for the Firms Belonging to the Chaebol in the Republic of Korea, The Journal of the Korea Contents Association, 2014, 14, 6, 367  crossref(new windwow)
4.
Contemporary Financial Profile and Its Implications on the Level of Corporate Cash Holdings for Korean Chaebol Firms, Journal of the Korea Academia-Industrial cooperation Society, 2015, 16, 6, 3870  crossref(new windwow)
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