표 1. 변수의 측정지표 Table 1. Variable Measurement
표 2. 기초통계분석 Table 2. Technical statistical analysis
표 3. GLS 분석결과 Table 3. Result of GLS
참고문헌
- D. O. May, "Do Managerial Motives Influence Firm Risk-Reduction Strategies?", Journal of Finance, Vol. 50, pp.1291-1308, 1995. https://doi.org/10.1111/j.1540-6261.1995.tb04059.
- F. Black, M. Scholes, "The Pricing of Options and Corporate Liabilities", Journal of Political Economy, pp.637-659, 1973. https://doi.org/10.1086/260062
- Byoung Gon Kim, Dong Sup Jung, Dong Wook Kim "The Effects of the Corporate Governance on the Business Diversification in Korea: Evidence from Panel Data", Financial Engineering Research, Vol.7, No.1, pp.95-120, 2008.
- H. Demetz. and K. Lehn, "The Structure of Corporate Ownership : Causes and Consequences", Journal of Political Economy, Vol.93, pp.1155-1177, 1985. https://doi.org/10.1086/261354
- M. C. Jensen, and W. H. Meckling, "Theory of the Firm: Managerial Behavior, Agency Cost and Ownership Structure", Journal of Financial Economics, Vol.27, pp.595-612, 1976. https://doi.org/10.2139/ssrn.94043
- Kyung Suh Park, Chan Shik Jung, "A Study on the Effects of Controlling Shareholders' Ownership on the Risk-Taking Behaviors of Savings Banks in Korea", Korean Journal of Financial Studies, Vol.44, No.5, pp.829-854, 2015.
- Byoung Gon Kim, Dong Wook Kim, "Major Shareholder Ownership and Business Diversification: The Consequences of Owner-managed and Agent-led Firm", Financial Engineering Research, Vol.9, No.2, pp.103-127, 2010.
- Soo Hyun Bae, "A Study on the Effects of Diversification on Savings Bank Performance: Focusing on the difference of performance of savings bank belonging to financial conglomeration group", Global business administration review, Vol.15, No.2, pp.77-96, 2018. https://doi.org/10.38115/asgba.2018.15.2.77
- R. Stulz, "Managerial Control of Voting Rights: Financing Polices and the Market for Corporate Control", Journal of Financial Economics, Vol. 20, pp.25-54, 1988. https://doi.org/10.1016/0304-405x(88)90039-6
- Joh, Sung Wook, "Corporate governance and firm profitability: evidence from korea before the economic crisis", Journal of Financial Economics, Vol. 68, pp.287-322, 2003. https://doi.org/10.18178/ijtef.2016.7.6.529
- Hyoung Joo Lim, Jong seo Choi, "Ownership Concentration, Endogeneity, and Earnings management: Static and Dynamic Panel Data Analysis", Korean Accounting Review, Vol.25, No.8, pp.231-276, 2013.
- Baltagi, B. H., "Econometric Analysis of Panel Data, New York", Rohn Wiley, 2008. https://doi.org/10.31274/rtd-180813-13298
- Moon Jun Kim, "A Study of the Economic and Social Performance of Social Enterprise", International Journal of Advanced Culture Technology(IJACT), Vol.6, No.2, pp.43-50, 2018. https://doi.org/10.17703/IJACT.2018.6.2.43
- Chul Choi, "A Study on Financial Portfolios of Korean Households", The Journal of the Convergence on Culture Technology (JCCT), Vol.4, No.1, pp.219-224, 2018. https://doi.org/10.17703/JCCT.2018.4.1.219