Survival Factors and Survival Rates of Foreign-invested Companies

외국인투자기업 생존율 및 영향요인

  • 성길용 (부산대학교 윤리경영전략센터)
  • Received : 2019.03.08
  • Accepted : 2019.04.04
  • Published : 2019.05.28


This study was conducted to analyze firm survival rate and impact factors of survival of Foreign-invested Companies in Korea which is between 2006 and 2017. An empirical analysis of the survival factors of firms used explanatory variables such as characteristics of the and 3 firm dummy and 2 firm factors, financial variables of 3 profitability and 3 stability factors. The Kaplan-Meier method was chosen to perform analyses on the survival rates, Cox Proportional Hazard Model took to conduct on the impact factors. As a result of the impact factors of Foreign-invested Companies survival, Ownership (OS), Labour (NE ) of characteristics of the firm had positive effects. The Gross Sales Profit (GSP), Net Profit (NP ) and Operating Profit (OP ) of the financial characteristics had a positive effect. Additional Asset (LA ) had positive effects and Capital (LC), Debt (LB ) had a negative effect. Other factors did not produce significant results.


Foreign-invested Companies;Survival Factors;Survival Rates;Cox Proportional Hazard Model;Life Table Method

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그림 1. 생명률 함수 비교

표 1. 변수의 조작적 정의

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표 2. 표본특성 및 검정

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표 3. 표본의 상관관계

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표 4. Cox Proportional Hazard Model 실증분석

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표 5. Life Table Method 실증분석

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