This study examined one of the issues received little attention so far, which was related to identify any financial attributes of the corporate profitability indices for the large firms listed in the KOSPI market surrounding the temporal references of the global financial turmoil. Given the situations concerning the gradually dissipated profitability levels between the top- and bottom-ranked large firms (in size) at the micro level and the on-going progress of the domestic capital markets to be classified into the advanced one at the macro level, it may be noteworthy and even of interest to investigate those elements. Three hypotheses were postulated and tested on the basis of major sample industries. The first hypothesis test was implemented to find any financial components of profitability measured at the market and book bases with utilizing a (dynamic) panel data analysis. Second, the ANCOVA with a posteriori test (for a multiple comparison), was performed to discern any grouping level of profitability among the sample industries. Finally, another robust procedure was analyzed on the five elements comprising the augmented 'DuPont’ system for the periods between the pre- and post-global financial turmoil.
Key words: The Korean Capital Market, KOSPI-Listed Firms, The Dynamic and The Static Panel Data Analyses, ANCOVA, The Augmented ‘DuPont’ System.
학회 소식
공지사항