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한국 금융시스템의 비교제도분석 : 은행 vs 시장

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Title 한국 금융시스템의 비교제도분석
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Sub Title

은행 vs 시장

Material Type Reports
Author(Korean)

김동환

Publisher

서울:한국금융연구원

Date 2012-07
ISBN 89-503-0546-1 93320
Pages 76
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding 한국금융연구원; KDI국제정책대학원

Abstract

Market-oriented financial system and bank-oriented financial system have their own advantages and disadvantages and thus need to carefully consider their proper functions. Market-oriented financial system, which focus on autonomy of corporate management, captures effectiveness of regular corporations, but may be ineffective to over-investment of insolvent enter- prises. Bank-oriented financial system does not have problems with over- investment of insolvent enterprises but may be ineffective in ways that it could bring under-investment of regular corporations. In Korea, both systems are relatively effective and market-oriented financial system has improved noticeably since the currency crisis. Especially corporations with high finan- cing with securities are thought to be regular corporations and also in active investment. Banks build governance of stock holders through debt equity swap, and bank loans are more utilized as a control system rather than a financing mechanism. Under the system of financial holding company, the banking industry may function both commercial and investment banks; and local banks and saving banks may function as commercial banks special- izing in their regional financial services.