재무적 제약하에서의 기업투자에 관한 연구 : A Study on Firm's Investment Behavior under Financial Constraints
- 주제(KDC) 320.000
- 설명문(일반) 본 연구는 2002년도 서강대학교 교내연구비 지원에 의하여 이루어 졌음
- 발행기관 서강대학교 경제연구소
- 발행년도 2003
- 총서유형 Journal
- 본문언어 한국어
초록/요약
This paper focuses to analyze the financial constraints and the business group internal capital market using panel data model Our research is to find out whether firm's investment depends on internal cash flow If the investment is sensitive to cash flow, then we suppose firms have the liquidity constraint caused by capital market imperfection like information asymmetry, agency problem, etc. With sample data of 1999-2001, we found the firm faces the financial constraints, however, there are no internal capital
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