DOI QR코드

DOI QR Code

Effects on the asset of the increase in the leverage and income

레버리지와 소득증가가 자산에 미치는 영향

  • 이신남 (협성대학교 세무회계학과)
  • Received : 2018.02.09
  • Accepted : 2018.04.20
  • Published : 2018.04.28

Abstract

The objective of this study focuses on the relationship between increasing of leverage and income, asset purchase. For empirical test, regression analysis was conducted using panel data of the household financial welfare survey. The results of the analysis are as follows: First, increasing of leverage is determined by the asset purchase. Deleveraging can be realized by reducing the size of the assets. Second, increase of leverage has positively affected on the increase of asset. Also, the increase of income has significantly positive influence on the increase of assets. These results provide practical guidance as research in increasing of leverage and increase of asset and the limitations of the research and future study are discussed as well.

Keywords

Leverage;Income;Increase of assets;Regression analysis;Household financial welfare

References

  1. R. Rajan. (2010).Fault Lines: How Hidden Fractures StillThreaten the World Economy. Princeton University Press.
  2. M. Iacoviello. (2008), Household Debt and Income Inequality, 1963-2003. Journal of Money, Credit and Banking, 40(5), 929-965. DOI: 10.1111/j.1538-4616.2008.00142.x https://doi.org/10.1111/j.1538-4616.2008.00142.x
  3. M. Kumhof, R. Ranciere & P. Winant(2015), Inequality, Leverage, and Crises. American Economic Review, 105(3), 1217-1245. DOI: 10.1257/aer.20110683 https://doi.org/10.1257/aer.20110683
  4. O. Coibion & Y. Gorodnichenko. (2015), Is the Phillips Curve Alive and Well after All? Inflation Expectations and the Missing Disinflation. American Economic Journal: Macroeconomics, 7(1), 197-232. DOI: 10.1257/mac.20130306 https://doi.org/10.1257/mac.20130306
  5. M. Airaudo & L. Bossi. (2014). Trickle-Down Consumption, Monetary Policy, and Inequality. https://www.cepweb.org/wp-content/uploads/2014/04/CEP
  6. A. Leight. (2007), How Closely Do Top Incomes Shares Track Other Measures of Inequality. in: The Economic Journal, 117, 619-633. https://doi.org/10.1111/j.1468-0297.2007.02099.x
  7. M. Tamm, H. Tauchmann, J. Wasem & S. Greb. (2007), Elasticities of market shares and social health insurance choice in Germany: a dynamic panel data approach. Health Economics, 16(3), 243-256. https://doi.org/10.1002/hec.1167
  8. T. Piketty, S. E. Saez & G. Zucman. (2016). Distributional national accounts: methods and estimates for the United States. National Bureau of Eonomic Research, Working Paper No. 22945, 1-5.
  9. M. K. Hong, T. H. Ahn, W. Y. Kim & J. M. Sung. (2016), Korea Labor and Income Panel Study, Korea Labor Institute.
  10. R. S. Jones. (2017), OECD Economic Survey of Kore 2016. http://www.oecd.org/eco/economic-survey-korea.htm
  11. J. I. Kim. (2018), Leverage expansion. http://economyplus.chosun.com/special/special_view.phpt_num=12798
  12. Analysis of Income Distribution by Wage-Labor Jobs. Statistics Korea, 2017. http:/kostat.go.kr/portal/korea/index.action
  13. C. Ricardo, E. Farhi & P. O. Gourinchas. (2009), An Equilibrium Model of Global Imbalances and Low Interest Rates. American Economic Review, 98, 358-393.
  14. S. Ahn, J H. Hahm & J. K. Kim. (2008). External Finance and Productivity Growth in Korea: Firm Level Evidence Before and After the Financial Crisis. Korea Development Review, 30(2), 177-209.
  15. Y. Choi & J. C. Son. (2016). Nonlinear Effect of Household Debt on Consumption: Evidence from Household-level Panel Data in Korea. Economic Bulletin, 36(2), 1083-1094.
  16. J. H. Jeon. (2018). The Effect of Corporate Social Responsibility and Audit Size on Credit Rating. Journal of the Korea Convergence Society, 9(1), 1-8. https://doi.org/10.15207/JKCS.2018.9.1.001
  17. S. J. Baek. (2017). An Predictive Analytics based on Goal-Scenario for Self-adaptive System. Journal of the Korea Convergence Society, 8(11), 77-83. https://doi.org/10.15207/JKCS.2017.8.1.077
  18. S. O. Shin. (2017), Relation among Clinical Learning Environment, Clinical Practice Cource Satisfaction and Major Satisfaction in Nursing Students. Journal of convergence for information technology, 7(6), 19-24. https://doi.org/10.14801/jaitc.2017.7.1.19
  19. J. K. Hong. (2017), Review on Security Communication Environment in Intelligent Vehicle Transport System. Journal of convergence for information technology, 7(6), 97-102. https://doi.org/10.22156/CS4SMB.2017.7.6.097