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Management --- Corporate culture --- Industries --- Gestion --- Culture d'entreprise --- Industrie --- K9415 --- Korea: Economy and industry -- business methods and management --- Administration --- Industrial relations --- Organization

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Sea-Jin Chang argues that the Korean financial crisis of 1997 was due to the inertia of both the business groups known as chaebols and the Korean government which prevented adaptation to changing external environments. Once the Korean government stopped central economic planning and pursued economic liberalization in the 1980s, the transition created a void under which neither the government nor markets could monitor chaebols' investment activities. The intricate web of cross-shareholding, debt guarantees, and vertical integration resulted in extensive cross-subsidization and kept chaebols from shedding unprofitable businesses. The government's continued interventions in banks' lending practices created 'moral hazards' for both chaebols and banks. This treatment demonstrates how the structure of chaebols later inhibited other adaptations and for all practical purposes became nearly dysfunctional. The book argues that restructuring of chaebols should focus on improving corporate governance systems. After such restructuring, the author predicts, chaebols will re-emerge as stronger, more focused global players.

Corporations --- Conglomerate corporations --- Financial crises --- Corporate governance --- Finance. --- K9400.80 --- K9411 --- K9415 --- K9480 --- Finance --- Korea: Economy and industry -- history -- modern period, postwar period (1945- ) --- Korea: Economy and industry -- organization and systems -- conglomerates, Chaebŏl --- Korea: Economy and industry -- business methods and management --- Korea: Economy and industry -- finance industries --- Business, Economy and Management --- Economics

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In Entrepreneurial States, an innovative examination of the comparative politics of reform in stakeholder systems, Yves Tiberghien analyzes the modern partnership between the state and global capital in attaining structural domestic change. The emergence of a powerful global equity market has altered incentives for the state and presented political leaders with a "golden bargain"--The infusion of abundant and cheap capital into domestic stock markets in exchange for reform of corporate governance and other regulatory changes. Drawing on extensive archival research and interviews with policy and corporate elites in Europe and East Asia, Tiberghien asks why states such as Korea and France have embraced this opportunity and engaged in far-reaching reforms to make their companies more attractive to foreign capital, whereas Japan and Germany have moved forward much more grudgingly. Interest groups and electoral institutions have their impacts, but by tracing the unfolding dynamic of reform under different constraints, Tiberghien shows that the role of political entrepreneurs is critical. Such policy elites act as mediators between global forces and national constraints. As risk takers and bargain builders, Tiberghien finds, they use corporate reform to reshape their political parties and to stake out new policy ground. The degree of political autonomy available to them and the domestic organization of bureaucratic responsibility determine their ability to succeed. -- Publisher description.

Corporate reorganizations --- Corporate governance --- Capital movements --- Entreprises --- Gouvernement d'entreprise --- Mouvements de capitaux --- Political aspects --- Government policy --- Réorganisation --- Aspect politique --- Politique gouvernementale --- CAPITAL MOVEMENTS -- 330.191.6 --- GOVERNMENT POLICY -- 330.191.6 --- Réorganisation --- Corporations --- Reorganization of corporations --- Industrial management --- Consolidation and merger of corporations --- Governance, Corporate --- Directors of corporations --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Balance of payments --- Foreign exchange --- International finance --- Reorganization --- J4360 --- J4301 --- K9415 --- K9401.10 --- J4592.71 --- Japan: Economy and industry -- business methods and management --- Japan: Economy and industry -- policy, legislation, guidelines, codes of behavior --- Korea: Economy and industry -- business methods and management --- Korea: Economy and industry -- policy, legislation, guidelines, codes of behavior --- Europe: Economy and industry in France and Monaco

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Edited by David T. Coe and Se-Jik Kim, this volume contains papers presented at a May 2001 conference in Seoul sponsored by the IMF and the Korea Institute for International Economic Policy on the Korean Crisis and Recovery. The papers examine the response to the 1997 crisis, its long-term impact on growth, and the state of financial and corporate sector reforms. Authors include academics, Korean policymakers, and IMF and World Bank staff involved in the Korean program.

Financial crises --- Interest rates --- Corporate reorganizations --- Labor market --- Corporate governance --- Crises financières --- Taux d'intérêt --- Entreprises --- Marché du travail --- Gouvernement d'entreprise --- Congresses --- Congrès --- Réorganisation --- -Corporate reorganizations --- -Financial crises --- -Interest rates --- -339.72 --- 336.1 <519.5> --- K9400.80 --- K9415 --- K9480 --- K9486 --- -KR / South Korea - Zuid Korea - Corée du Sud --- 331.31 --- 333.481 --- 331.33 --- -Labor market --- -Corporate governance --- -330.95195 --- Governance, Corporate --- Industrial management --- Directors of corporations --- Employees --- Market, Labor --- Supply and demand for labor --- Markets --- Corporations --- Reorganization of corporations --- Consolidation and merger of corporations --- Money market rates --- Rate of interest --- Rates, Interest --- Interest --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Business cycles --- Internationaal betalingsverkeer. Valutahandel. Wisselmarkten. Deviezenhandel. Internationale kapitaalmarkt. Flow and funds analysis. Betalingsbalans. Internationale geldmarkt. --- Public finance, government finance in general--Zuid Korea --- Korea: Economy and industry -- history -- modern period, postwar period (1945- ) --- Korea: Economy and industry -- business methods and management --- Korea: Economy and industry -- finance industries --- Korea: Economy and industry -- finance -- banking --- Economisch beleid. --- Monetaire crisissen, hervormingen, saneringen en stabilisering. --- Structureel beleid. Reglementering. Dereglementering. Ordnungspolitik. --- Supply and demand --- Reorganization --- 336.1 <519.5> Public finance, government finance in general--Zuid Korea --- 339.72 Internationaal betalingsverkeer. Valutahandel. Wisselmarkten. Deviezenhandel. Internationale kapitaalmarkt. Flow and funds analysis. Betalingsbalans. Internationale geldmarkt. --- Crises financières --- Taux d'intérêt --- Marché du travail --- Congrès --- Réorganisation --- Congresses. --- 330.95195 --- KR / South Korea - Zuid Korea - Corée du Sud --- 339.72 --- Economisch beleid --- Structureel beleid. Reglementering. Dereglementering. Ordnungspolitik --- Monetaire crisissen, hervormingen, saneringen en stabilisering --- Internationaal betalingsverkeer. Valutahandel. Wisselmarkten. Deviezenhandel. Internationale kapitaalmarkt. Flow and funds analysis. Betalingsbalans. Internationale geldmarkt --- Banks and Banking --- Financial Risk Management --- Foreign Exchange --- Investments: Bonds --- Labor --- Macroeconomics --- General Financial Markets: General (includes Measurement and Data) --- Financial Crises --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Interest Rates: Determination, Term Structure, and Effects --- Economic & financial crises & disasters --- Labour --- income economics --- Currency --- Foreign exchange --- Investment & securities --- Banking --- Monetary economics --- Exchange rates --- Corporate bonds --- Currency crises --- Financial institutions --- Corporate sector --- Economic sectors --- Bonds --- Banks and banking --- Korea, Republic of