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The association of firm risk measures and accounting information in the Korean capital market
- The association of firm risk measures and accounting information in the Korean capital market
- Lee, ChangWoo; Kim, Kapsoon
- Seoul National University
| Title |
The association of firm risk measures and accounting information in the Korean capital market
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| 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 |
| License |  |
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.
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