Koo, Jaewoon; Maeng, Kyunghee - In: Applied Economics 38 (2006) 20, pp. 2405-2414
This study examines whether an increase in foreign ownership affects investment in Korea. Many studies have shown that in an imperfect financial market, a firm's investment depends on the availability of internal funds. If high foreigners' shareholding is a sign of a firm's good financial...