증권회사 영업용순자본의 가치관련성에 관한 연구

• 영문명: A Study on the Value Relevance of Securities Firm's Net Operating Capital
• 발행기관: 강원대학교 경영경제연구소
• 저자명: 조석희
• 간행물 정보: 『아태비즈니스연구』제14권 제1호, 327~340쪽, 전체 14쪽
• 주제분류: 인문학 > 문학
• 파일형태: PDF
• 발행일자: 2023.03.30

영문 초록

Purpose - The purpose of this study is to examine the information effect of securities firm’s net operating capital, securities firm’s regulatory purposes capital, by analyzing the value relevance of net operating capital. Design/methodology/approach - This study was empirically analyzed using samples of domestic listed securities firms in the past 12 years, and multiple regression analysis and Vuong (1989) test were used together as specific research methods. Findings - First, it was found that the net operating capital of securities firms has an incremental value relevance that is added to basic accounting information (equity book value, profit or loss information). Second, after classifying equity capital on the books into net operating capital and the rest of equity capital, the value relevance of net operating capital was significantly higher than that of other equity capital. Research implications or Originality - The results of this study indicate that the level of regulatory capital in the securities industry can be used in the process of evaluating firm value in the capital market, and it is significant in that capital market evaluation can be stratified according to regulatory purposes.

목차

Ⅰ. 서론

Ⅱ. 이론적 배경 및 가설개발

Ⅲ. 연구방법

Ⅳ. 실증분석 결과

Ⅴ. 결론

References

키워드

Net Operating Capital Value Relevance Regulatory Capital