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식품제조업의 한계기업 동향과 특징Trends and Characteristics of Zombie Firms in Korean Food Manufacturing

Other Titles
Trends and Characteristics of Zombie Firms in Korean Food Manufacturing
Authors
김성용김나흔유순미
Issue Date
Dec-2023
Publisher
한국농식품정책학회
Keywords
Food Manufacturing; Zombie Firms; Interest Coverage Ratio; Financial Balance Sheets; Panel Data
Citation
농업경영.정책연구, v.50, no.4, pp 749 - 773
Pages
25
Indexed
KCI
Journal Title
농업경영.정책연구
Volume
50
Number
4
Start Page
749
End Page
773
URI
https://scholarworks.gnu.ac.kr/handle/sw.gnu/69557
ISSN
1229-9154
Abstract
Social concerns in zombie firms is growing due to the COVID-19 pandemic and the subsequent economic downturn. We employed financial statement panel data of food manufacturers at the firm level and analyzed the trends and characteristics of zombie firms. If the interest coverage ratio is less than 1 for 3 consecutive years, it is classified as a zombie firm. Recently, the share of zombie firms has been increasing, albeit slightly, and as of 2021, 10 percents of the food manufacturers in the sample were identified as zombies. However, in the past 20 years, the proportion of firms that have become zombies has reached 35.3%. Zombie firms have a negative impact on the growth of the food manufacturing industry due to the congestion effect. In order to promote the revitalization of the food manufacturing industry, it is time to carefully select zombie firms and come up with measures to improve their constitution.
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농업생명과학대학 > 식품자원경제학과 > Journal Articles
College of Business Administration > 회계세무학부 > Journal Articles

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Kim, Sung Yong
농업생명과학대학 (식품자원경제학과)
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