Earticle

초록

영어

This paper empirically analyzes the effects of foreign direct investment (FDI) on financial performance of marine transportation companies between 2005 and 2013. By using firm-level data of 407 companies in marine transportation sector during the sample period, we find that FDI companies experience severe financial difficulties with respect to companies that do not engage in FDI. Considering that marine transportation company’s FDI decision is largely affected by the foreign corporate tax rates, we estimate two-stage least squares model to find that an increase in foreign investment that is made to the foreign subsidiaries from exploiting low foreign corporate tax rates significantly worsens financial performance of parent firms over time. These results provide evidence that recent collapse of Korea’s top marine transportation companies is partially associated with prior FDI increase.

목차

Abstract
 Ⅰ. 서론
 Ⅱ. 이론적 배경
 Ⅲ. 연구 방법
 Ⅳ. 분석 결과
 Ⅴ. 결론 및 시사점
 참고문헌

키워드

저자

• 이승래 [ Seungrae Lee | 경북대학교 경제통상학부 조교수, 대표집필 ]
• 이재민 [ Jaimin Lee | 한국해양대학교 해양금융·물류대학원 해양금융학과 교수 ] 교신저자

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  무역통상학회지 [Journal of Korea Research Association of International Commerce]

• 간기

  격월간

• pISSN

  1738-4354

• 수록기간

  2001~2025

• 등재여부

  KCI 등재

• 십진분류

  KDC 326 DDC 380