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http://dx.doi.org/10.5762/KAIS.2014.15.2.1118

Analyzing on the Fluctuation Characteristics of Management Condition of Construction Company  

Jang, Ho-Myun (Division of Occupational Health & Safety Engineering, Semyung University)
Publication Information
Journal of the Korea Academia-Industrial cooperation Society / v.15, no.2, 2014 , pp. 1118-1125 More about this Journal
Abstract
The past IMF foreign exchange crisis and subprime financial crisis had a big influence on variability of macroeconomics, even if the origin of its occurrence might be different. This not only had a significant infrequence on the overall industries, but also produced many insolvent companies by being closely linked with a management environment of an individual construction company leading the construction industry. The purpose of this research is to investigate characteristics of management condition of construction company according to the size of construction company using KMV model developed on the basis of the Black & Scholes option pricing theory. This research has set 28 construction companies listed to KOSPI/KOSDAQ for applying the KMV model and measuring the level of the default risk of construction companies. The data was retrieved from TS2000 established by Korea Listed Companies Association (KLCA), Statistics Korea. The analysis period is between first quarter of 2004 and fourth quarter of 2010. This research examine characteristics of the level and fluctuation process of the management condition of construction company according to the size of construction company.
Keywords
KMV Model; EDF(Expected Default Frequency); Management Condition of Construction Company;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
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