The Change in corporate transparency of Korean firms after the Asian financial crisis: An analysis using analysts' forecast data

Using analysts' forecast error and forecast dispersion of firms covered by the I/B/E/S database, this study examines the change in information asymmetry of Korean firms around the financial crisis of 1997. Results show that the information asymmetry of Korean firms is lower after the financial...

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Main Authors: CHANG, Jinho, CHO, Young Jun, SHIN, Hyun-Han
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2007
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Online Access:https://ink.library.smu.edu.sg/soa_research/1572
https://ink.library.smu.edu.sg/context/soa_research/article/2599/viewcontent/Chang_et_al_2007_Corporate_Governance__An_International_Review__1_.pdf
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spelling sg-smu-ink.soa_research-25992017-08-08T09:59:53Z The Change in corporate transparency of Korean firms after the Asian financial crisis: An analysis using analysts' forecast data CHANG, Jinho CHO, Young Jun SHIN, Hyun-Han Using analysts' forecast error and forecast dispersion of firms covered by the I/B/E/S database, this study examines the change in information asymmetry of Korean firms around the financial crisis of 1997. Results show that the information asymmetry of Korean firms is lower after the financial crisis than before, implying that corporate transparency did, in effect, improve with the change in business environment. In addition, this study finds that chaebol firms have higher information asymmetry than non-chaebol firm, and also that the corporate transparency improvement of chaebol firms is not higher than that of non-chaebol firms in the post-crisis period despite the reforms particularly targeted to chaebol firms after the financial crisis. 2007-11-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/soa_research/1572 info:doi/10.1111/j.1467-8683.2007.00637.x https://ink.library.smu.edu.sg/context/soa_research/article/2599/viewcontent/Chang_et_al_2007_Corporate_Governance__An_International_Review__1_.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection School Of Accountancy eng Institutional Knowledge at Singapore Management University Asian financial crisis analyst forecast error analyst forecast dispersion chaebol information asymmetry corporate transparency Asian Studies Finance and Financial Management Portfolio and Security Analysis
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Asian financial crisis
analyst forecast error
analyst forecast dispersion
chaebol
information asymmetry
corporate transparency
Asian Studies
Finance and Financial Management
Portfolio and Security Analysis
spellingShingle Asian financial crisis
analyst forecast error
analyst forecast dispersion
chaebol
information asymmetry
corporate transparency
Asian Studies
Finance and Financial Management
Portfolio and Security Analysis
CHANG, Jinho
CHO, Young Jun
SHIN, Hyun-Han
The Change in corporate transparency of Korean firms after the Asian financial crisis: An analysis using analysts' forecast data
description Using analysts' forecast error and forecast dispersion of firms covered by the I/B/E/S database, this study examines the change in information asymmetry of Korean firms around the financial crisis of 1997. Results show that the information asymmetry of Korean firms is lower after the financial crisis than before, implying that corporate transparency did, in effect, improve with the change in business environment. In addition, this study finds that chaebol firms have higher information asymmetry than non-chaebol firm, and also that the corporate transparency improvement of chaebol firms is not higher than that of non-chaebol firms in the post-crisis period despite the reforms particularly targeted to chaebol firms after the financial crisis.
format text
author CHANG, Jinho
CHO, Young Jun
SHIN, Hyun-Han
author_facet CHANG, Jinho
CHO, Young Jun
SHIN, Hyun-Han
author_sort CHANG, Jinho
title The Change in corporate transparency of Korean firms after the Asian financial crisis: An analysis using analysts' forecast data
title_short The Change in corporate transparency of Korean firms after the Asian financial crisis: An analysis using analysts' forecast data
title_full The Change in corporate transparency of Korean firms after the Asian financial crisis: An analysis using analysts' forecast data
title_fullStr The Change in corporate transparency of Korean firms after the Asian financial crisis: An analysis using analysts' forecast data
title_full_unstemmed The Change in corporate transparency of Korean firms after the Asian financial crisis: An analysis using analysts' forecast data
title_sort change in corporate transparency of korean firms after the asian financial crisis: an analysis using analysts' forecast data
publisher Institutional Knowledge at Singapore Management University
publishDate 2007
url https://ink.library.smu.edu.sg/soa_research/1572
https://ink.library.smu.edu.sg/context/soa_research/article/2599/viewcontent/Chang_et_al_2007_Corporate_Governance__An_International_Review__1_.pdf
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