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dc.contributor.author김주형-
dc.date.accessioned2018-03-14T01:14:39Z-
dc.date.available2018-03-14T01:14:39Z-
dc.date.issued2014-01-
dc.identifier.citationJournal of Asian Architecture and Building Engineering, 2014,13(1) Pages 93-100en_US
dc.identifier.issn1346-7581-
dc.identifier.urihttp://www.jstage.jst.go.jp/article/jaabe/13/1/13_93/_article-
dc.identifier.urihttp://hdl.handle.net/20.500.11754/46428-
dc.description.abstractThe present study empirically analyzed the capital structure determinants of 43 listed construction companies in Korea from 2000 to 2010 using multiple regression analysis. Specifically, the empirical analysis focused on changes in the coefficients of the determinants according to the leverage ratio quantiles of the examined construction companies. The empirical analysis found company and non-debt tax shield size to be positively related with leverage among construction companies, whereas profitability, growth, asset tangibility, and liquidity were found to be negatively related with leverage. The major results of the study are: 1) construction companies followed the static tradeoff theory in relation to size; 2) non-debt tax shields had quite limited effects on the capital-structure-related decisions of construction companies; 3) construction companies were found to follow the pecking order theory in relation to profitability; and 4) asset tangibility was estimated to have the opposite sign to that found in previous studies. These results were attributed to the characteristics of the construction business.en_US
dc.description.sponsorshipThis work was supported by the National Research Foundation of Korea(NRF) grant funded by the Korea government(MEST)(No. ERC-2005-0049719).en_US
dc.language.isoenen_US
dc.publisherARCHITECTURAL INST JAPAN, 5-26-20 SHIBA, MINATO-KU, TOKYO, 108-8414, JAPANen_US
dc.subjectcapital structureen_US
dc.subjectconstruction companyen_US
dc.subjectquantile regressionen_US
dc.subjectSouth Koreaen_US
dc.subjectCORPORATE-DEBT POLICYen_US
dc.subjectAGENCY COSTSen_US
dc.subjectINVESTMENTen_US
dc.titleCapital Structure Determinants among Construction Companies in South Korea: A Quantile Regression Approachen_US
dc.typeArticleen_US
dc.relation.no1-
dc.relation.volume13-
dc.identifier.doi10.3130/jaabe.13.93-
dc.relation.page93-100-
dc.relation.journalJOURNAL OF ASIAN ARCHITECTURE AND BUILDING ENGINEERING-
dc.contributor.googleauthorChoi, Jae-Kyu-
dc.contributor.googleauthorYoo, Seung-Kyu-
dc.contributor.googleauthorKim, Ju-Hyung-
dc.contributor.googleauthorKim, Jae-Jun-
dc.relation.code2014032433-
dc.sector.campusS-
dc.sector.daehakCOLLEGE OF ENGINEERING[S]-
dc.sector.departmentDEPARTMENT OF ARCHITECTURAL ENGINEERING-
dc.identifier.pidkcr97jhk-
Appears in Collections:
COLLEGE OF ENGINEERING[S](공과대학) > ARCHITECTURAL ENGINEERING(건축공학부) > Articles
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