기업의 비재무적 성과와 주주환원의 관계에 대한 연구

• 영문명: A Study on the Relationship between the Strengthen Non Financial Performance and Shareholder Return
• 발행기관: 강원대학교 경영경제연구소
• 저자명: 김종희
• 간행물 정보: 『아태비즈니스연구』제13권 제3호, 311~328쪽, 전체 18쪽
• 주제분류: 인문학 > 문학
• 파일형태: PDF
• 발행일자: 2022.09.30

영문 초록

Purpose - The purpose of this study was to examine the relationship between firm’s non financial performance and its shareholder return by analyzing PCA while focusing on the classifying all the variables into three categories such as financial, characteristics, and non financial factors of the firms. Design/methodology/approach - By exploring the pattern of self tender from the 801 firms in KOSPI while focusing on the objective of stock disposal, this paper analyzes the change of shareholder return of the firm. Findings First, the higher major ownership, the lower self tender gets, whereby the higher ownership by foreigners, the ratio of self tender is higher. Secondly, cash dividend has not significant impact on the disposal of self stock, and the high ratio of ownership by foreigners leads to the high probability of retirement rather than the general disposal. In contrast, the major ownership has a negative impact on the general disposal as well as retirement. Thirdly, the score of non financial factors such as Environment(E), Social responsibility(S), and Governance(G) shows the high value in case of the firms with self tender. More specifically, the firms with retirement has the highest value of ESG while it has the lowest value in case of the firms with general disposal. Research implications or Originality - The retirement which means the active shareholder return is strongly affected by the non financial factors. Specifically, the probability of retirement increases in case of the firms with retirement, and even such a tendency is found to the case of the firms with general disposal.

목차

Ⅰ. 서론

Ⅱ. 기존문헌 검토

Ⅲ. 연구방법론

Ⅳ. 실증분석 결과

Ⅴ. 결론

References

키워드

Non Financial Performance Shareholder Return Retirement