선박금융기관의 소유구조와 경영성과 분석

Abstract

Abstract

A study on the impact of ownership structure of ship financial institutions on their performance

Ji, Moonjin

Department of Ship finance

Graduate School of Maritime Industry

Korea Maritime University

The purpose of this thesis is to analyze the business performance difference based on the ownership structure type in the aspect of profitability and stability. In order to conduct this analysis in two aspects, the ship financial institutions have been classified into two groups: public and private. The outcome difference between two groups has been verified through ROE(Return On Equity) and ROA(Return On Assets) and through BIS capital adequacy ratio. To verify the outcome difference of two groups targeted for this study, T-test and descriptive statistics has been performed using SPSS 12.0. Data on ROE, ROA, and BIS capital adequacy ratio were collected through the annual reports, financial report, and IR report which were issued by 17 financial institutions indexed in Marine Money from 2006 to 2011.

The important results of this thesis are as follows.

First of all, the difference of ROE and ROA between private and public ship financial institutions is statistically significant, but no difference has been shown in terms of stability to be measured through BIS capital adequacy ratio.

To test the business performance difference according to the ownership structure types before and after the global financial crisis, we examined the outcome difference in the ship financial institutions in terms of profitability and stability. However, in the event that the analysis is performed in public and private financial institutions, the business outcome difference before and after the global financial crisis has been shown for private financial institutions and has not been shown for public financial institutions.

It is meaningful that this study is the first work which examined the difference of the operating performance by the ownership structure types of ship financial institutions. However, that the small sample for this empirical study is a limitation of this thesis.