Download or read book Bankruptcy of Large Firms and Exit Mechanisms in Korea written by Il Chong Nam and published by . This book was released on 2000 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report deals with two fundamental questions that face the Korean economy: why did so many large firms go bankrupt, and what is wrong with the insolvency mechanisms in Korea? Roughly one third to one half of the medium-sized chaebols went bankrupt or fell into deep financial trouble after the onset of the crisis. In addition, essentially all of the firms belonging to the Daewoo group, one of the top five chaebols, went bankrupt. Some firms affiliated with the other top five chaebols have also fallen into financial difficulties. Massive bankruptcy of chaebol firms led to deep financial difficulties of banks and non-bank financial institutions, which in turn resulted in a massive injection of public funds. Even after the outbreak of the crisis, lack of confidence in the court-supervised bankruptcy proceedings led to the wide use of so-called workouts. The laws on court-supervised bankruptcy proceedings have recently been revised twice, but have not been able to gain full confidence of market participants. The authors claim that the most important factor behind the malfunctioning of bankruptcy proceedings in Korea is the lack of proper corporate governance in financial institutions and large firms. Banks in Korea have been run as if they were government businesses; and as a consequence, they have not been supervised by a proper governance structure that is profit-oriented. Lack of proper governance was the main reason that banks did not act properly as creditors in bankruptcy proceedings and passively followed initiatives of debtor firms and the government. This monograph also contains a chapter focusing on a comparative analysis of bankruptcy proceedings of the following six East Asian countries: Singapore, Malaysia, the Philippines, Thailand, Indonesia, and Korea. The comparative analysis generally confirms that Singapore and Malaysia are equipped with superior institutional infrastructures concerning corporate governance of large firms and reallocation of resources from bankrupt firms, compared to the other four countries that have been adversely affected by the economic crisis. The monograph concludes with a set of proposals that the authors believe is needed to improve the efficiency of bankruptcy proceedings in Korea.
Download or read book Competition and Corporate Governance in Korea written by Sung-Hee Jwa and published by Edward Elgar Publishing. This book was released on 2004-01-01 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This informative book will appeal to academics and researchers of industrial organization, economics and corporate reform as well as those involved in Asian studies."--BOOK JACKET.
Download or read book Bankrupt written by Terence Halliday and published by Stanford University Press. This book was released on 2009-04-20 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through the lens of the Asian Financial Crisis, this book documents how international organizations and national governments crafted legal responses, through corporate bankruptcy reforms, to the fragility of financial markets in East Asia and worldwide.
Download or read book A Debtor World written by Ralph Brubaker and published by Oxford University Press. This book was released on 2012-11-15 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Debtor World contains a collection of contributions about the societal implications of private debt. The essays comprising this volume are authored by dozens of leading U.S. and international academics who have written about debt or issues related to debt in a wide range of disciplines including law, sociology, psychology, history, economics, and more. The goal of this collection is to explore debt neither as a problem nor a solution but as a phenomenon and to promote the exchange of knowledge to better comprehend why consumers and businesses decide to borrow money. It asks what happens to businesses and consumers under a heavy debt load, and what legal norms and institutions societies need to encourage the efficient use of debt while promoting a greater understanding of the global phenomenon of increased indebtedness and societal dependence.
Download or read book Neoliberalism and Institutional Reform in East Asia written by Meredith Jung-En Woo and published by Springer. This book was released on 2007-11-06 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together scholars of political economy, law and sociology to interrogate the seemingly unproblematic notions - the rules of law, good corporate governance, and flexible labour market - that inform neoliberal policy prescriptions. It also discusses how these concepts have been translated and practiced in East Asia.
Download or read book Legal Reform in Korea written by Tom Ginsburg and published by Routledge. This book was released on 2004-03 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Law in Korea has historically been viewed as merely a tool of authoritarian rule, but since the transition to democracy in 1987 it has served a more important and visible role as a force for social change. With contributions from leading US and Korean scholars, Legal Reform in Korea explores this response to domestic and international pressures, applying a socio-legal perspective to both legal practices and the legal institutions themselves, which have become a major political issue throughout the developing world. An invaluable resource for students of Asian law and Korean studies.
Download or read book Transnational Legal Ordering and State Change written by Gregory C. Shaffer and published by Cambridge University Press. This book was released on 2013 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading law and society scholars apply an empirically grounded approach to the study of transnational legal ordering and its effects within countries.
Download or read book OECD Economic Surveys Korea 2005 written by OECD and published by OECD Publishing. This book was released on 2005-11-29 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2005 Economic Survey of Korea's economy examines key challenges in Korea's shift to a more market-oriented and open economy. In particular, it covers public sector decentralisation, innovation and the education system, enhancing flexibility and ...
Download or read book Insolvency Prospects Among Small and Medium Sized Enterprises in Advanced Economies written by Mr.Federico J Diez and published by International Monetary Fund. This book was released on 2021-04-02 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are viable a priori could end up being liquidated—particularly in sectors characterized by labor-intensive technologies, threatening both macroeconomic and social stability. This staff discussion note assesses the impact of the pandemic on SME insolvency risks and policy options to address them. It quantifies the impact of weaker aggregate demand, changes in sectoral consumption patterns, and lockdowns on firm balance sheets and estimates the impact of a range of policy options, for a large sample of SMEs in (mostly) advanced economies.
Download or read book Development and Society written by and published by . This book was released on 2005 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Globalization and the Asia Pacific Economy written by Kyung Tae Lee and published by Routledge. This book was released on 2003-09-02 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at globalisation in historical perspective and *examines the experience of East Asian economies during the financial crisis *provides an account of globalisation through the activities of Japanese multinational enterprises *deals with the social consequences of exposure to the financial market risks of globalisation in East Asia *details the experience of East Asian economies in managing the financial crisis *draws lessons from East Asian experience with financial market liberalisation *asks what approaches to international financial cooperation, trade policy and corporate governance can assist East Asian interests in the world economy.
Download or read book Growth and Productivity in East Asia written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2009-02-15 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considering the examples of Australia and the Pacific Rim, Growth and Productivity in East Asia offers a contemporary explanation for national productivity that measures contributions not only from capital and labor, but also from economic activities and relevant changes in policy, education, and technology. Takatoshi Ito and Andrew K. Rose have organized a group of collaborators from several Asian countries, the United States, and other parts of the globe who ably balance both macroeconomic and microeconomic study with theoretical and empirical approaches. Growth and Productivity in East Asia gives special attention to the causes for the unusual success of Australia, one of the few nations to maintain unprecedented economic growth despite the 1997 Asian financial crisis and the 2001 global downturn. A new database comprising eighty-four Japanese sectors reveals new findings for the last thirty years of sectoral productivity and growth in Japan. Studies focusing on Indonesia, Taiwan, and Korea also consider productivity and its relationship to research and development, foreign ownership, and policy reform in such industries as manufacturing, automobile production, and information technology.
Download or read book Institutionalizing Creative Destruction written by Bruce G. Carruthers and published by . This book was released on 2003 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Epistemological Conflicts and Institutional Impediments written by Terence Charles Halliday and published by . This book was released on 2003 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book ASEAN Economic Bulletin written by and published by . This book was released on 2004 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Insolvency Systems in Asia An Efficiency Perspective written by OECD and published by OECD Publishing. This book was released on 2001-03-07 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together a comparative report and studies of the insolvency systems of Indonesia, Korea, Malaysia, the Philippines, Singapore and Thailand.
Download or read book Korea Confronts the Future written by John Barry Kotch and published by . This book was released on 2005 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
