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The Relationship on Corporate Governance, Corporate Real Estate Holding Policies and Firm Value: Focus on IFRS Adoption

기업지배구조와 기업부동산 보유정책과 기업가치와의 관련성: IFRS도입을 중심으로

  • Received : 2018.07.03
  • Accepted : 2018.09.20
  • Published : 2018.09.28

Abstract

Despite the fact that corporate real estate ratio accounts for a considerable proportion of the assets, such researches and studies are lacking and there is not enough such policies to utilize real estate more effectively in Korea. In particular, after IFRS adoption, the owner and manager needs to utilize corporate real estate assets as the assets are revalued. In this study, we analyzed the relationship between corporate governance, corporate real estate holding policies and firm value based on financial data from 2010 to 2016. As a result of regression analysis, this study showed that more Dictatorship Portfolio, the higher proportion of corporate real estate holdings. Next, the higher proportion of corporate real estate holdings, the lower the firm value. This study suggests that corporate real estate is recognized an important factor and should have proper holding ratio. I will continue my research to show that the corporate holding policies are an important asset impact by verifying the mediating effect between corporate governance and firm value in the future.

Keywords

Corporate Governance;IFRS(International Financial Reporting Standards);Corporate real estate;Corporate real estate holding policy;Firm value

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