수산경영론집 (The Journal of Fisheries Business Administration)
- 제28권2호
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- Pages.1-18
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- 1997
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- 1225-1011(pISSN)
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- 2288-1727(eISSN)
어선어업 경영체의 재무구조 특성
The Characteristics of Financial Structure for Fisheries Corporations
초록
The purpose of this study is to investigate empirically the characteristics of financial structure by using 76 fisheries corporations in Korea, and to suggest implications of the empirical results for government's financial policy for fisheries corporations. For the empirical test, we choose the following factors as the explanatory variables of cross-sectional regression analysis:firm-size(SIZE), collateral value of assets(TFATA), business risk(BRISK), growth(GROWTH), effective tax(ET), profitability(PROFIT). Two different debt ratios are used as dependent variables. One is defined as the ratio of total debt to total assets and the other is as that of long-term debt to total asset in terms of book value. The sample consists of 76 fisheries firms and sample period is 14 years from 1982 till 1995. From the results of cross-sectional regression analysis, the adjusted R
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