(영문)사례연구: 대리인문제(부산저축은행사태)/Case Study: The Agency Problem(Busan Savings Bank Scandal)

목차

I. Introduction to the Case

II. The Beginning of Busan Savings Bank Scandal
1. Busan Savings Bank
2. Backgorund
3. Busan Savings Bank Scandal

III. The reason of Busan Savings Bank Scandal
1. The insolvent operation of PF loan by the recession of real property
2. The fiercer competition in the market of small loan
3. The Major Shareholders and Executive’s Moral Hazard and Insufficiency of Operating Capacity
4. The limitation of the policy and the supervision

IV. Agency Problem by the Moral Hazard
1. The Busan Savings Bank
2. The ownership Structure

V. Conclusion and Implication

본문내용

According to Berleand Means(1932), company faces with the limitation of capital supplying in the process of growing up from small company to large company. To overcome this, the company tries additional capital supplying by stock issue of external capital market. In this procedure, possession diversification of share can be done naturally. Because of this possession diversification, company’s control is transferred to the management specialist and then the separation of control and ownership occurs. As control and ownership separate, shareholder delegates managerial authority to the manger. In this case, the manager may make a decision not to maximize the shareholder’s profit but to maximize his own profit. This is called ‘Agency problem’. Agency problem occurs when manager’s behavior is not accordance with shareholder’s profit as compliance monitoring does not work well. If shareholder can assign all the behavior depending on every situation and can make perfect contract, the agency problem would not occur.

참고 자료

Kim Jin Ae, 「The Agency Cost and the Ownership Structure」, master’s thesis, Graduate school of Yeonsei University, 2002
Kim Ji Ryeong, Lee Jun Ho, Kwon Seon Kuk, 「the case of corruption in accounting: Busan Savings Bank」, Business management Research no17, 2, Korean Business Academy, 2013
Lee Won Hmm, 「The Research about the regulation policy Effect on Holding Company and Large Company: focusing on the Agency Problem」, Regulation Research no.17, 2, Korea Economy Institute, 2008
No Eun Jeong, 「Corporate ownership structure effect on the agency cost: focusing on the control effect of manager ownership」, master’s thesis, Graduate school of Ewha Womans University, 2008
Kim Chang Hee, 「The situation and the problem of Restructuring in Nonbanking sector」, Labor Society no.76, Korean Labor Society Insititute, 2003
Hwang Sang Yeon, 「The cause of Busan savings bank scandal and prospect」, Gyeonggi Research Institute, 2011