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Evolving patterns of corporate financing in Korea

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  • Evolving patterns of corporate financing in Korea
  • 왕윤종; 박해식
  • Korea Institute for International Econmic Policy
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Title Evolving patterns of corporate financing in Korea
Similar Titles
Material Type Reports
Author(Korean)

왕윤종; 박해식

Publisher

[서울]:Korea Institute for International Econmic Policy

Date 2003
Series Title; No Working Paper / 03-03
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Financial Policy
Holding Korea Institute Economic Policy

Abstract

Like many other countries in East Asia before the financial crisis of 1997, Korea relied heavily on bank intermediation for corporate financing. The growth-oriented strategy of Korean banks, which neglected profitability and proper risk management, resulted in the inefficient allocation of financial resources and allowed Korean firms to have easy access to bank loans. However, the corporate financing patterns of Korea remarkably changed after the crisis. (The rest omitted)