We argue that changes in the inheritance system affect incentives leading to sibling rivalry among descendants and therefore have a material impact on family firm performance. Using South Korea's 1991 inheritance law reform that stipulates the equal distribution of a deceased person's property...

We argue that changes in the inheritance system affect the incentives toward sibling rivalry among descendants, thereby having a material impact on family firm performance. Using South Korea's 1991 inheritance law reform that stipulates the equal distribution of a deceased person's property to...

This study empirically investigates the relationship between banking integration and liquidity management. To measure banks’ connectivity, we use the number of partnerships proxied via the syndicated loan arrangements in which they serve as lead arrangers. If banks establish more business...

Korean Abstract: 본고에서는 기존문헌연구를 통하여 예금보험제도가 도입된 후 어떻게 발전되어 왔는지 살펴보았다. 이를 위해 먼저 예금보험과 금융안정의 관계를 분석한 기존문헌들을 분석하였다. 기존문헌에서는...

This paper empirically tests the hypothesis that there is a trade-off between the benefit and the cost of a CEO-connected director. The effect of a CEO-connected director on firm value is contingent to firm-specific characteristics. The connected director resolves information asymmetry yet...