Pension fund monitoring and corporate debt policy: Evidence from the Korean market*

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dc.contributor.authorChoi, Wonseok
dc.contributor.authorChung, Chune Young
dc.contributor.authorPark, Jongchan
dc.date.accessioned2023-03-23T18:03:17Z
dc.date.available2023-03-23T18:03:17Z
dc.date.issued2021
dc.descriptionArticle originally published in Asia-Pacific Journal of Financial Studies, 50(2), 210–237. English. Published online 2021. https://doi.org/10.1111/ajfs.12331
dc.descriptionPost-print under embargo until April 2023
dc.description.abstractWe investigate whether the Korean National Pension Service, a corporate watchdog and major long-term investor in South Korea, positively affects corporate financial policy. The Korean National Pension Service is less likely to influence corporate financial policy even among firms with high uncertainty and information opacity, which increases the importance of large shareholders’ monitoring role. Additionally, ownership by the Korean National Pension Service has statistically insignificant effects on firms’ performance and financial soundness.en_US
dc.identifier.citationThis is a post-print version of an article that is available at https://doi.org/10.1111/ajfs.12331. Recommended citation: Choi, W., Chung, C. Y., & Park, J. (2021). Pension fund monitoring and corporate debt policy: Evidence from the Korean market*. Asia-Pacific Journal of Financial Studies, 50(2), 210–237. This item has been deposited in accordance with publisher copyright and licensing terms and with the author’s permission.en_US
dc.identifier.urihttps://hdl.handle.net/11274/14719
dc.identifier.urihttps://doi.org/10.1111/ajfs.12331
dc.language.isoen_USen_US
dc.publisherWileyen_US
dc.subjectBlockholdingen_US
dc.subjectInstitutional monitoringen_US
dc.subjectKorean marketen_US
dc.subjectKorean National Pension Serviceen_US
dc.subjectTarget capital structureen_US
dc.titlePension fund monitoring and corporate debt policy: Evidence from the Korean market*en_US
dc.typePost-Printen_US

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