Credit Market Conditions and the Propagation of Korea's 1997 Financial Crisis

2006 ◽  
Author(s):  
Peter L. Rousseau ◽  
Jong-Hun Kim
Keyword(s):  
Financial Crisis ◽  
Credit Market ◽  
Market Conditions

SK Telecom — Going for the Global Leadership

2011 ◽  
Vol 15 (02) ◽  
pp. 201-251
Author(s):  
Daniel Z. Mack ◽  
Theresa S. Cho
Keyword(s):  
Financial Crisis ◽  
External Environment ◽  
Global Leadership ◽  
The Other ◽  
Home Market ◽  
Market Conditions ◽  
Korean Firm ◽  
Global Strategies ◽  
Telecommunications Companies ◽  
Future Growth

This case is set in the period after the worldwide financial crisis that started in mid 2007. Focusing on SK Telecom, one of South Korea's largest telecommunications providers, it reviews the previous strategies implemented by the Korean firm as well as the key challenges that SK Telecom has faced during the period of 2008–2009. This case also reviews the other global strategies undertaken by other major telecommunications companies from other countries. Faced with home market stagnation as well as distressed credit markets, SK Telecom requires a renewed strategy for further growth ahead. The case allows students to examine the threats and opportunities associated with the firm's internal and external environment, review its corporate portfolio, and formulate strategies for future growth of the firm. This case also highlights the different challenging market conditions in various markets and how these conditions affect the viability of SK Telecom seeking growth overseas.

scholarly journals Financing Constraints and Access to Credit in a Postcrisis Environment: Evidence from New Farmers in Alabama

2012 ◽  
Vol 44 (4) ◽  
pp. 607-621 ◽  
Author(s):  
Valentina Hartarska ◽  
Dennis Nadolnyak
Keyword(s):  
Financial Crisis ◽  
Survey Data ◽  
Credit Market ◽  
Cash Flows ◽  
Financing Constraints ◽  
2008 Financial Crisis ◽  
Access To Credit ◽  
Self Selection ◽  
The 2008 Financial Crisis ◽  
New Farmers

We use survey data to study the degree to which new farming operations in Alabama were financially constrained after the 2008 financial crisis. Next, we control for farmers' self-selection out of the credit market and identify which farmers were able to secure loans during the period of 2009–2010. The results show that new farmers that started any part of their operation after 2005 were financially constrained but no evidence that their financing constraints were affected by the crisis. As expected, we find that lending was collateral-driven, although lenders also considered farmers' profitability and cash flows.

scholarly journals ECONOMIC ACTIVITY, CREDIT MARKET CONDITIONS, AND THE HOUSING MARKET

2017 ◽  
Vol 22 (7) ◽  
pp. 1769-1789 ◽  
Author(s):  
Luca Agnello ◽  
Vitor Castro ◽  
Ricardo M. Sousa
Keyword(s):  
Housing Market ◽  
Economic Activity ◽  
Hazard Function ◽  
Credit Market ◽  
European Countries ◽  
Market Conditions ◽  
Industrial Countries ◽  
Housing Boom ◽  
Main Determinants ◽  
Using Data

In this paper, we assess the characteristics of the housing market and its main determinants. Using data for 20 industrial countries over the period 1970Q1–2012Q2 and a discrete-time Weibull duration model, we find that the likelihood of the end of a housing boom or a housing bust increases over time. Additionally, we show that the different phases of the housing market cycle are strongly dependent on the economic activity, but credit market conditions are particularly important in the case of housing booms. The empirical findings also indicate that although housing booms have similar lengths in European and non-European countries, housing busts are typically shorter in European countries. The use of a more flexible specification for the hazard function that is based on cubic splines suggests that it evolves in a nonlinear way. From a policy perspective, our study can be useful for predicting the timing and the length of housing boom–bust cycles. Moreover, it highlights the importance of monetary policy by influencing lending rates and affecting the likelihood of occurrence of housing booms.

The revenue persistence of US accounting firms: impacts of SOX and financial crisis

2019 ◽  
Vol 31 (3) ◽  
pp. 523-548
Author(s):  
KiKyung Song ◽  
Eunyoung Whang
Keyword(s):  
Financial Crisis ◽  
Design Methodology ◽  
Market Conditions ◽  
Accounting Firms ◽  
Content Type ◽  
Advisory Services ◽  
Sarbanes Oxley ◽  
Financial Crisis Of 2008 ◽  
The Impact ◽  
Management Advisory

Purpose Typical accounting firms offer three types of accounting services to their clients: accounting and auditing (AA), tax (TAX) and management advisory services (MAS). Each accounting service has a different revenue persistence. Moreover, revenue persistence is affected by exogenous events such as new regulations (e.g. Sarbanes-Oxley Act [SOX] in 2002) and market conditions (e.g. the financial crisis of 2008). This paper aims to examine the revenue persistence of accounting services and how it is affected by SOX and the financial crisis. Design/methodology/approach Using 742 firm-year observations from 100 of the largest US accounting firms from 1999 to 2015, this paper examines whether revenue from AA, TAX and MAS has different degrees of persistence and how SOX and the financial crisis in 2008 change the revenue persistence of each accounting service. Findings This paper finds that MAS generates more persistent revenue than AA and TAX. SOX enhances the revenue persistence of MAS. The financial crisis makes revenue from AA less persistent than during the pre-financial crisis period. Originality/value This paper contributes to the understanding of the revenue persistence of accounting services and the impact of exogenous events such as SOX and the financial crisis of 2008.

scholarly journals Revealing “Mafia Inc.”? Financial Crisis, Organized Crime, and the Birth of New Enterprises

2020 ◽  
pp. 1-45 ◽  
Author(s):  
Marco Le Moglie ◽  
Giuseppe Sorrenti
Keyword(s):  
Financial Crisis ◽  
Organized Crime ◽  
Credit Market ◽  
Subprime Mortgage ◽  
Mortgage Crisis ◽  
Judicial Authority ◽  
Subprime Mortgage Crisis

We study the investment of organized crime in the legal economy. By using the shock induced on the Italian credit market by the 2007 subprime mortgage crisis, we document how provinces with a high organized crime presence have been impacted less by the crisis in terms of the establishment of new enterprises than provinces with a lower criminal infiltration. We provide evidence that the lower impact of the crisis is consistent with the presence of investments by organized crime in the legal economy. We corroborate this interpretation by comparing our results with the characterization made by the judicial authority of such investments.

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