연구성과물검색
유형별/분류별 연구성과물 검색
HOME ICON HOME > Search by Achievements Type > Reports View

Reports Detailed Information

https://www.krm.or.kr/krmts/link.html?dbGubun=SD&m201_id=10016826&local_id=10014644
기업 특성이 신용할당에 미치는 효과
Reports NRF is supported by Research Projects( 기업 특성이 신용할당에 미치는 효과 | 2007 Year | 구재운(전남대학교) ) data is submitted to the NRF Project Results
Researcher who has been awarded a research grant by Humanities and Social Studies Support Program of NRF has to submit an end product within 6 months(* depend on the form of business)
  • Researchers have entered the information directly to the NRF of Korea research support system
Project Number B00110
Year(selected) 2007 Year
the present condition of Project 종료
State of proposition 재단승인
Completion Date 2009년 05월 26일
Year type 결과보고
Year(final report) 2009년
Research Summary
  • Korean
  • 기업은 금융시장에서 일정한 제약을 받는다. 즉 원하는 만큼 자금을 공여받지 못할 가능성이 있다. 이를 신용할당현상이라고 한다. 본 논문에서는 한국의 기업자료를 이용하여 신용할당이 실제로 존재하는지, 그리고 신용할당을 결정하는 요인이 무엇인지를 분석하였다. 분석결과 통화긴축기에 신용할당이 심해지며, 소기업과 비재벌기업의 경우에 신용할당을 받을 확률이 커짐을 발견하였다.
  • English
  • This paper attempts to investigate determinants on credit rationing experienced by firms using Korean individual firm data. I find that size, maturity, and chaebol significantly affect the probability of credit rationing for each firm. Smaller firms, younger firms, and non-chaebol firms are more likely to be rationed out in Korean credit market. These findings suggest that a tightening of monetary policy has a disproportionate effect on firms’ activities.
    (key words: credit rationing, Korea, chaebol)
    (JEL classification code: E32, E51)
Research result report
  • Abstract
  • This paper attempts to investigate determinants on credit rationing experienced by firms using Korean individual firm data. I find that size, maturity, and chaebol significantly affect the probability of credit rationing for each firm. Smaller firms, younger firms, and non-chaebol firms are more likely to be rationed out in Korean credit market. These findings suggest that a tightening of monetary policy has a disproportionate effect on firms’ activities.
  • Research result and Utilization method
  • I attempt to characterize the differences in investigate which factors affect credit rationing experienced by firms. Estimation Results for the disequilibrium model suggest that small, young and non-chaebol firms are more likely to be credit-rationed. The degree of bank-firm relationship also plays a role of credit rationing.
    This finding implies that monetary policy has distributional effects on bank loans received by firms. Characteristics of firms such as size, age and business groups tend to affect the probability of credit rationing experienced by firms.
    When the monetary authority implements monetary policy it should consider seriously the differential degree of credit rationing across firms. Monetary policy exerts the distributional effect as well as the aggregate effects. The observation that some firms are credit rationed and others are not rationed implies that monetary policy has differential effects. The effect will be stronger for rationed firms than non-rationed firms.
  • Index terms
  • credit rationing, Korea, chaebol
  • List of digital content of this reports
데이터를 로딩중 입니다.
  • This document, it is necessary to display the original author and you do not have permission
    to use copyrighted material for-profit
  • In addition , it does not allow the change or secondary writings of work
데이터 이용 만족도
자료이용후 의견
입력