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The association of firm risk measures and accounting information in the Korean capital market

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  • The association of firm risk measures and accounting information in the Korean capital market
  • Lee, ChangWoo; Kim, Kapsoon
  • Seoul National University


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Title The association of firm risk measures and accounting information in the Korean capital market
Similar Titles
Material Type Articles
Author(English)

Lee, ChangWoo; Kim, Kapsoon

Publisher

[Seoul, S.Korea]:Seoul National University

Date 1998
Journal Title; Vol./Issue Seoul Journal of Business:vol. 4(no. 1)
Pages 22
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Economy < Economic System
Holding Seoul National University

Abstract

The purpose of this study is to investigate and document an empirical relation between the risk of a firm and firm-specific information such as financial leverage and other variables in the Korean capital market. The results indicate that in the Korean capital market, the working capital position and firm size are positively associated with various risk measures. For the financial leverage variable, we observe inconsistent results with respect to different risk measures; financial leverage and total risk are positively associated, while financial leverage and systematic risk are negatively associated. It is interesting, therefore, that the Korean market exhibits somewhat different features from those found in U.S. empirical results and in the theory of finance.