PLENARY LECTURE

This research examined the financial characteristics of the companies designated as "Issues for Administration" in KOSPI market of South Korea, according to the causes of designation. The financial ratios - profitability, stability, activity, and growth - are compared between designated and non-designated companies from five years to one year prior to the designation. The simple t-test and average treatment effect test using propensity score matching method are used. As results, designated and non-designated group showed the significant difference in profitability and stability while the activity and growth did not. The financial characteristics were also different depending on the causes of designation. The results of simple t-test and average treatment effect by using propensity score matching method did not coincide in some ratios.

Short Biography of the Speaker:

Changrae Park hold a Ph. D. degree from the Yonsei University, Seoul South Korea as well as M.A., in Business Administration from same university. Dr. Park's major research area is the financial statements analysis and the corporate valuations. He is the professor of Department of Accounting, College of Social Sciences, Gangneung-Wonju National University, South Korea. He published books and articles. Dr. Park is the vice present of the Korean Academic Society of Accounting, and the Member of the Korea Accounting Association.