• Korean Journal of Rural Living Science
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• v.10 no.2
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• pp.1-14
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• 1999

The purposes of this study are to identify the factors affecting asset and debt choice behavior of rural households as well as to examine the differences in asset and debt choice behavior between rural and urban households. The data are taken from Korean Household Panel Study conducted in 1996 by Daewoo Economic Research Institute. Among 2,833, a final sample of 2,625 -537 rural and 2,088 urban sample- is used in this study. The results show that, the asset and debt choice behavior of rural households is totally different from that of urban households. The ratio of rural households holding all types of financial assets and sales credit is less than that of urban households while the ratio of holding real asset and loan is greater in rural than urban households. The most influential variable on the ownership of asset and debt is the age of household head. And there exist interrelationships between ownership of different assets and debts.

• Korean Journal of Human Ecology
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• v.21 no.2
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• pp.225-240
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• 2012

The purpose of this study was to investigate the determinants of households with risky debt loads. The study used financial ratios to determine which households were over-indebted. The 3 ratios used were Debt to Asset ratio, Debt to Financial asset ratio, and Debt Service ratio. Data for this study was the 2011 Survey of Household Finance. Households that demonstrated total debts of 70% or more when compared to total assets were 8.8%. Households that demonstrated a debt load totaling 5 or more times their total financial assets were 19%. Households with monthly repayment obligations of 40% or more of disposable income were 20%. Households that fulfilled all 3 financial ratio criteria were 1.5% of total indebted households. Over-indebted households demonstrated severe economic condition in terms of debt, but not all over-indebted households were categorized as being in economically vulnerable group. The major determinants of households with risky debts were income, asset, purpose of loans, and spending behavior of the households.

• Journal of Families and Better Life
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• v.14 no.2
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• pp.157-170
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• 1996

Even if holding debt may be a rational means for household to maximize utility under any circumstance and any time through the family life cycle most households have some difficulty to determin and keep the moderate debt amount. The purpose of this study is to identify the characteristics of household's debt and the factor associated with debt. Data used in this study consisted of 4,009 households. The results of this study were as follows; Among 4,009 households 1,400 housholds?(34.9%) owed. Age education and occupation of household header liquid and real asset and housing ownership had significant effects on whether household having debt. The real and liquid asset had significantly positive relation with the liabilities of financial agency whereas the occupation of household header liquid asset and unearned income with private liabilities. Finally age education and occupation of household header home ownership and liquid asset had significantly negative effect on the total a ount of debt while earned and unearned income and real asset had positive one.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.469-476
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• 2021

This study aims to examine and measure the impact of capital structure on the profitability of companies in emerging markets. The research sample includes eighteen rubber companies listed on the Vietnam stock exchange from 2015-2019. After collecting the research data, it was imported into excel to calculate the criteria for the research model. By using Stata 16 software, the study selected a data processing model and evaluated the relevance of the regression analysis model. The research results show that the profitability of listed rubber companies in Vietnam (measured by return on equity (ROE) has a positive relationship with the debt-to-asset ratio but has a negative relationship with the long-term debt-to-asset ratio. The results also show a positive impact of firm size and revenue growth on profitability while liquidity and the ratio of tangible fixed assets to total assets do not affect significantly. These results are consistent with most of the previously published studies. However, in contrast to many previous studies, our study shows that the long-term debt-to-assets ratio has a negative effect on profitability while the debt-to-asset ratio has a positive effect. This is entirely consistent with the characteristics of long-term debt use in emerging markets.

• The Journal of Industrial Distribution & Business
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• v.12 no.2
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• pp.41-52
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• 2021

Purpose: This study aims to provide implications for the government's housing supply policy by analyzing the factors that determine the type of real estate holding and household debt. This study started from the awareness that the determinants of household debt differ depending on the type of real estate holding. Research design, data and methodology: Real estate ownership type was classified and analyzed into 4 models: model 1 (1 household 1 house and self-resident), model 2 (1 household multiple real estate ownership and self-resident), model 3 (1 household 1 house and rent residence), model 4 (1 household holds a large number of real estate and rent residence). The analysis method used multiple regression analysis. The dependent variable was household total debt. As independent variables, household debt, annual gross household income, financial assets, real estate net assets, annual repayment, demographic & residential characteristics were used. Results: 1) Model 4 has the highest household debt and the highest gross income, Model 2 has the most real estate mortgage loans and real estate net asset, and Model 1 has the highest real estate mortgage payments. 2) The positive factor of common household debt determinants is real estate net assets, and the negative factor is financial assets. 3) It was the net assets of real estate that acted as a positive factor in common for the four models. In other words, the more financial assets, the less household debt. It was analyzed that the more net assets of real estate, the more household debt. The annual repayment of financial liabilities had no influence on household debt, while the annual repayment of loan liabilities and household debt had a positive relationship. Conclusions: 1) It is necessary to introduce benefits and systems that can increase the proportion of household financial asset. Specific alternatives include tax benefits and reduced fees for financial asset investment. 2) In the case where a homeless person prepares one house for one household, it is necessary to prepare various support measures according to the income level. The specific alternative is to give additional points for pre-sale or apply an interest rate cut incentive for mortgage loans.

• Journal of the Korean Home Economics Association
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• v.38 no.2
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• pp.65-77
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• 2000

This study investigated the effect of socio-demographic variables and the ownership of asset and the other types of debts on the use of a specific type of household debt. Household debts were categorized into six types according to borrowing sources: debts from banks, other financial institutes, employers, private sources, Gye, and retailers. The 1996 Korean Household Panel Study were analyzed using logistic model. It was found that socio-demographic factors influenced differently on the probabilities of debt holdings according to the types of debt. There were interrelationships among the ownerships of a specific type of debt and other types of debt and asset.

• Journal of the Korean Home Economics Association
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• v.30 no.1
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• pp.219-235
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• 1992

This study attempted to examine a theoretical framework which synthesizes risk attitude, type of investment management and investment behavior and to provide the specific investment strategy by analysing several variables which have effect upon the investment behavior. The results of this research were as follow : 1. Risk attitude had significant differences by the variabels such as age, sex, education, income and debt/asset ratio. Also the type of investment management was influenced significantly by the variables such as age, education, occupation, income, total asset, debt/asset ratio, achievement motivation and risk attitude. The ratio of risky asset holdings was affected by the variabels such as age, education, occupation, housing ownership, income, total asset, debt/asset ratio, achievement motivation, risk attitude and type of investment management. 2. Among several variables affecting the ratio of risky asset holding risk attitude, education, type of investment management, debt/asset ratio and achievement motivation had direct effect on it. Besides age had indirect effect through risk attitude and age, achievement motivation and risk attitude had indirect effect through the type of investment management. 3. The results of this study showed that causal relation between input, throughput and output can be applied to household's investment behavior and the concept of risk or risk attitude can be applied to other fields except household's investment. Also it could be attributed to provide the investment strategy for improving level of household's financial well-being.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.141-148
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• 2020

This paper analyzes factors affecting the debt maturity structure of enterprises listed on the Vietnam stock market. The panel data of research sample includes 549 non-financial listed enterprises on the Vietnam stock market from 2009 to 2019. The Generalized Least Square (GLS) tool is employed to address econometric issues and to improve the accuracy of the regression coefficients. In this research, debt maturity structure is the dependent variable. Capital structures, fixed assets, liquidity, firm size, asset maturity, profitability, corporate income tax, gross domestic product, inflation rate, credit growth scale are independent variables in the study. The model results show, that among the factors affecting the structure of debt maturity, the capital structure, asset structure, and firm size have the highest estimation coefficients, which shows that capital structure, asset structure, and firm size plays an important role in the decision-making process of debt maturity structure. The empirical results show that there are differences in the impact of these factors on the debt maturity structures in state-owned enterprises and non-state enterprises listed on the Vietnam stock market. The findings of this article are useful for business administrators, helping business managers make the right financial decisions to determine the target debt maturity structure in enterprises.

• The Journal of Fisheries Business Administration
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• v.34 no.1
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• pp.31-44
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• 2003

The purpose of this study is to investigate empirically interaction among the financing decision, investment decision, and profitability by using 41 fisheries corporations in Korea, and to suggest implications of the empirical results for government's financial policy for fisheries corporations. Sample period is 19 years from 1982 till 2000. This analysis method employs the two stage least squares(2SLS) estimation method. From the results of regression analysis by 2SLS estimation method, the adjusted $R^2$ values were high and the overall F values indicated significant. The empirical results of this study are as follows; (1) determinant factors of capital structure model for fisheries are profitability, firm-size, fisheries investment of total asset, and business risk. As pecking order theory explains, the higher is profitability the lower is debt ratio. The larger firm-size, the higher is debt ratio. The higher is fisheries investment of total asset and business risk, the higher is debt ratio. (2) determinant factors of investment model for fisheries are the change of sales, business risk, and debt ratio. These factors have positive relation to fisheries investment of total asset (3) determinant factors of profitability model for fisheries are fisheries investment of total asset and debt ratio. These factors have negative relation to profitability. On the basis of analysis results, on the government's financial policy for fisheries corporations, I suggests that with interest rate reduction, the government should lend more funds to solve the crisis in the financial structure of the fisheries firms

• KDI Journal of Economic Policy
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• v.37 no.4
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• pp.21-54
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• 2015

This paper analyzes how and why household debt distribution by the householder age has changed over the past decade both in Korea and the US. Data shows that the proportion of household debt held by younger households has decreased, while that held by older households has increased. Empirical analysis shows that a change in the demographic distribution of householders is the main driving force that has shifted the household debt distribution. Given that demographic aging is an inevitable trend, the proportion of household debt held by older households is also expected to increase. Therefore, the Korean government must preemptively prepare for the household debt problem, especially for debt held by older households, by strengthening macro-prudential policies, preventing asset price deflation, restructuring household debt contract structures, and reforming labor market inflexibility.