Corporate Governance in the Republic of Korea and Its Implications for Firm Performance
Nam, Il Chong | July 2004
Abstract
Firm measures had to be taken to prevent further deterioration of the corporate sector and the problem of non-performing loans. Instead, banks kept extending further credits to those firms that were essentially bankrupt and had little possibility of being viable again on their own. The combination of large-scale corporate failure and bank failure led to the loss of confidence in the Korean economy by the international financial community, triggering the foreign exchange crisis, which quickly spread into a domestic financial crisis.
Citation
Nam, Il Chong. 2004. Corporate Governance in the Republic of Korea and Its Implications for Firm Performance. © Asian Development Bank. http://hdl.handle.net/11540/3598. License: CC BY 3.0 IGO.Keywords
Financial & Private Sector Development
Private Sector Investments
Private Sector Participation
Private Sector Projects
Public Sector Infrastructure
Public Sector Management
Public Sector Projects
Private enterprises
Private ownership
Government
Public enterprises
Public finance
Infrastructure projects
Development projects
Financial loss
Central local government relations
Administration
Decentralization in government
Subnational governments
Government monopolies
Intergovernmental fiscal relations
Investment of public funds
Local finance
Government services
State governments
Municipal government
Bank failures
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Citable URI
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