The Korean Journal of Applied Statistics (응용통계연구)

The Korean Statistical Society (한국통계학회)
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Financial performance analysis of guaranteed firms using propensity scores

성향점수를 활용한 보증기업의 재무성과 분석

  • Received : 2016.02.05
  • Accepted : 2016.02.12
  • Published : 2016.02.29
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Abstract

In this paper, we examine the financial performance of credit guarantee programs. We compared financial performance of guaranteed firms of KODIT and non-guaranteed firms. The of covariate adjusted propensity score method is used because a selection bias problem could occur if t-test or regression analysis were used. The results show that a credit guarantee program enhances the financial performance of beneficiary firms.

본 연구에서는 신용보증기금으로부터 보증받은 기업의 미시적 성과를 분석하기 위해 비보증기업과 비교 분석하였다. t-test나 회귀모형과 같은 단순모형으로 비교하게 되면 선택편의에 의해 실제 보증성과를 나타낼 수 없다. 이러한 문제점을 해결하기 위해서, 선택편의를 보정한 회귀모형을 제안하였고 실제 자료에 적용하였다. 분석결과 비보증기업에 비하여 보증기업의 미시적 성과를 확인할 수 있었다.

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References

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