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1997년을 중심으로 국내외 압력은 법개정을 비롯해서 부도기업을 처리하는 법원에게 부도 기업 정상화를 신속하게 이루기 위한 중요한 제도적 환경의 변화가 이루어졌다. 따라서 이 연구는 부도 발생시기가 1997년 이전인가, 이후인가를 통해 제도적 환경, 특히 신속한 부도 처리를 목적으로 하는 부도관련 법개정이 부도처리 과정에 미치는 영향을 분석할 것이다. 이를 바탕으로 다음과 같은 가설을 제시한다.가설 4: 1997년 이후 부도가 발생한 기업은 그 이전에 부도가 발생한 기업에 비해 정상화가능성이 클 것이다.


Normalized Process of Bankrupt Firms Network and Institutionalized Approaches Chan-ung Park Department of Sociology, Yonsei University In the present paper, I examined the processes of corporate bankruptcy proceedings of the listed companies on the Korea Stock Exchange. I collected a list of the listed companies that went bankrupt since 1990. The main findings are as follows: first, financial characteristics of bankrupt firms such as debt, capital, sales, and assets influenced the chance of reviving after bankruptcy; second, in addition to such financial attributes, relational attributes such as business group membership of a bankrupt firm are also important; and, finally, environmental attributes such as the timing of bankruptcy with respect to the 1997 economic crisis and the number of overall corporate bankruptcies at the time of a firm’s bankruptcy turn out to affect the chance of reviving a bankrupt firm.


Normalized Process of Bankrupt Firms Network and Institutionalized Approaches Chan-ung Park Department of Sociology, Yonsei University In the present paper, I examined the processes of corporate bankruptcy proceedings of the listed companies on the Korea Stock Exchange. I collected a list of the listed companies that went bankrupt since 1990. The main findings are as follows: first, financial characteristics of bankrupt firms such as debt, capital, sales, and assets influenced the chance of reviving after bankruptcy; second, in addition to such financial attributes, relational attributes such as business group membership of a bankrupt firm are also important; and, finally, environmental attributes such as the timing of bankruptcy with respect to the 1997 economic crisis and the number of overall corporate bankruptcies at the time of a firm’s bankruptcy turn out to affect the chance of reviving a bankrupt firm.