기업의 퇴직연금제도 선택에 영향을 미치는 요인에 관한 연구

Since the introduction of a pension plan on December, 2005, retirement pension plan has positioned as 3 pillars for retirement plan with National Pension Service and individual pension. Recently, retirement pension market has been strengthened the foundation for the growth through implementation of IFRS, the revision of the Employee Retirement Benefit Securities Act and tax reform. Pension sponsor face the problem of selection on Defined Benefit(DB) and Defined Contribution(DC) when introducing retirement pension plan. This report studies impact on retirement pension plan choice through analyzing financial factors of pension plan sponsor adapted retirement pension plan. Multinomial logit model be used to analyze the influence on retirement pension plan choice utilizing the financial data of 1,102 plan sponsors ,listed on Korea Stock Exchange and KOSDAQ Stock Exchange, derived by KIS-Library and KIS-Value. The empirical analysis show that some factors, such as business period, debt ratio, asset total and liquidities, have significant influence on the selection of retirement pension plan type. But, number of employees, cash dividend rate and sales statistically show no effects at all unlike the existing research from this empirical study.