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Corporate restructuring in Korea and its application to Japan : Corporate restructuring vehicles

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  • Corporate restructuring in Korea and its application to Japan
  • Kim, Hyoung-Tae
  • Economic and Social Research Institute


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Title Corporate restructuring in Korea and its application to Japan
Similar Titles
Sub Title

Corporate restructuring vehicles

Material Type Articles
Author(English)

Kim, Hyoung-Tae

Publisher

[Tokyo]:Economic and Social Research Institute

Date 2003-09
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Economy < Economic Administration
Holding Economic and Social Research Institute

Abstract

This paper will examine the nuts and bolts of Korean corporate restructuring experience, emphasizing corporate restructuring vehicles, and will try to find suggestions to Japanese economy. Japanese government, in order to implement corporate restructuring efficiently, shall need to create corporate restructuring vehicles. In Korea, there existed several corporate restructuring vehicles such as CRC(Corporate Restructuring Company), CRV(Corporate Restructuring Vehicle), CRF(Corporate Restructuring Fund) and M&A fund, however, with certain limitations as the vehicles of corporate restructuring. Such limitations stem from the fact that the existing vehicles failed to provide prompt and large-scale capital investments, which are critically necessary due to the exponential decay in the value of distressed company. One benchmark example of having prompt and large-scale capital investments is a buyout fund in U.S. Buyout fund can overcome the limitations of CRC and M&A fund. (The rest omitted)