회계정보를 이용한 기업성장의 요인과 유형에 관한 실증적 분석 = 미국기업을 중심으로

다국어 초록 (Multilingual Abstract)

The Korean financial crisis of 1997 created enormous pressure for the restructuring of Korean firms, (especially the chaebols), and addressed the causes of the crisis, namely, the highly leveraged financial structure, growth-driven management, management by ownership. In such an environment, the adoption of successful restructuring strategies to enable strong firm growth depends on a clear analysis of firm growth. The purpose of this study is to provide an analysis of factors and patterns of firm growth using accounting information of firms in the U. S. A. The following is a summary of the main findings of this analysis. First, the more capital intensive and rapidly growing industries, the more rapid the change in market competition. Second, as competition becomes fiercer and growth slows, the relationship between profitability and growth weakens. Third, investment in production facilities and technology leads to a growth in capital intensive and technology intensive industries. Interestingly however, the factors and patterns of profitability did not reflect the particular characteristics of the industries. Fourth, a mismatch of pattern and strategy for firm growth increases the likelihood of a firm discontinuation. Fifth, a strategy of diversification can make a positive contribution to firm growth in some industries.