<P> This paper examines the relationship between investment propensity and foreign market entry strategies in a sample of korean companies. I also examine whether foreign exchange risk management affects the association betwee...
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https://www.riss.kr/link?id=A107564085
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2011
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KCI등재
학술저널
279-302(24쪽)
3
0
상세조회0
다운로드다국어 초록 (Multilingual Abstract)
<P> This paper examines the relationship between investment propensity and foreign market entry strategies in a sample of korean companies. I also examine whether foreign exchange risk management affects the association betwee...
<P> This paper examines the relationship between investment propensity and foreign market entry strategies in a sample of korean companies. I also examine whether foreign exchange risk management affects the association between investment propensity and foreign market entry strategies. This study proposes that a active foreign exchange risk management with derivatives enhances the positive relationship between investment propensity and foreign market entry strategies in a international diversified firm. </P><P> I perform the logistic regression analysis and the moderated regression analysis to test hypotheses of this paper and find the results as follows. Results show firms with aggressive investment propensity perform more active foreign market entry strategies. Results also show that for firms with high foreign exchange risk, more aggressive investment propensity results in higher foreign investment ownership if companies use derivatives to manage their foreign exchange risk. Implementing active foreign exchange risk management through derivatives is effective in reducing foreign exchange risk, so inducing the more positive association between investment propensity and foreign market entry strategies. </P><P> I expect that an extension of this study including sophisticated measurement of variables with full data of recent year would be induce more important implication for the foreign market investment strategies and foreign exchange risk management through derivatives. </P>
참고문헌 (Reference)
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1 Geczy, C.l, "Why Firms Use Currency Derivatives" 52 : 1323-1354, 1997
2 Smith, C.W. Jr, "The Investment Opportunity set and Corporate Financing, Dividend, and Compensation Policies" 31 : 263-292, 1992
3 Rutledge, R, "The Influence of Self-Interest and Ethical Considerations on Managers' Evaluation Judgements" 24 : 173-184, 1999
4 Guay, W.R, "The Impact of Derivatives on Firm Risk: An Empirical Examination of New Derivative Users" 26 : 19-351, 1999
5 Harrison, P, "The Impact of Adverse Selection on Managers' Project valuation Decisions" 36 : 635-643, 1993
6 Smith, C.W. Jr, "The Determinants of Firms' Hedging Policies" 20 : 391-405, 1985
7 Modigliani, F, "The Cost of Capital, Corporation Finance and the Theory of Investment" 261-297, 1958
8 Chang C.W, "Survey in a Patient with Depression" 52 (52): 1259-1261, 2007
9 Crik, D, "Small High-Technology Firms and International High- Technology Markets" 8 (8): 63-85, 2000
10 Collier, P, "Risk Management in UK MNCs" Accounting and Business Research 327-335, 1985
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학술지 이력
연월일 | 이력구분 | 이력상세 | 등재구분 |
---|---|---|---|
2022 | 평가예정 | 계속평가 신청대상 (등재유지) | |
2017-01-01 | 평가 | 우수등재학술지 선정 (계속평가) | |
2013-01-01 | 평가 | 등재학술지 유지 (등재유지) | |
2010-01-01 | 평가 | 등재학술지 유지 (등재유지) | |
2008-01-01 | 평가 | 등재학술지 유지 (등재유지) | |
2006-01-01 | 평가 | 등재학술지 유지 (등재유지) | |
2004-01-01 | 평가 | 등재학술지 유지 (등재유지) | |
2001-01-01 | 평가 | 등재학술지 선정 (등재후보2차) | |
1998-07-01 | 평가 | 등재후보학술지 선정 (신규평가) |
학술지 인용정보
기준연도 | WOS-KCI 통합IF(2년) | KCIF(2년) | KCIF(3년) |
---|---|---|---|
2016 | 1.01 | 1.01 | 1.06 |
KCIF(4년) | KCIF(5년) | 중심성지수(3년) | 즉시성지수 |
0.98 | 0.9 | 1.149 | 0.19 |