کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5105377 1481190 2017 5 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Default Risk and Firm Value of Shipping & Logistics Firms in Korea
ترجمه فارسی عنوان
پیش فرض خطر و ارزش شرکت حمل و نقل و شرکت های لجستیک در کره
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد، اقتصادسنجی و مالیه (عمومی)
چکیده انگلیسی
As shipping and logistics industry is one of the core industries in Korea, the volume was ranked in the fifth highest in the world. However, shipping and logistics industry of Korea has suffered from default risk since Global Financial Crisis in 2008. This study examines the relationship between the default risk, as measured by the Altman K-Score, and firm value, as measured by the Return on Assets (ROA), of shipping and logistics firms in Korea and compares the impact of default risk on firm value between good financial health firms and poor financial health firms. As the trends of KScores over a ten-year periods, shipping and logistics firms in Korea register weak-to-moderate financial healthy rage. We find that Altman K-Score is significantly linked with firm value and also higher performing firms as measured by the ROA exhibit higher financial health as measured by KScore. Although nine years have been passed since Global Financial Crisis 2008, Korean shipping and logistics industry is still under the financial depression. This study proposes that systematic financial alert system of Korean shipping and logistics industry should be required to decrease default risk reflecting significance of Korean economy.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The Asian Journal of Shipping and Logistics - Volume 33, Issue 2, July 2017, Pages 61-65
نویسندگان
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