해운선사 주주구성과 재무건전성에 관한 사례분석: 글로벌 해운선사를 중심으로

The main purpose of this study is to find the difference of the financial soundness between companies with different shareholder composition. For this purpose, this study compares the shareholder composition and five financial indicators such as the liquidity ratio, the debt ratio, the operating cost protection period, the ratio of net income to stockholders’ equity, and the ratio of net profit to net sales. After carrying out the analysis, this study concludes that if ownership and management are not separated, main decisions on company cannot be made by the interests of shareholders. Instead, the main decisions would be made by the interests of the minority such as the owner. On the other hand, if the shareholders of a company are appropriately composed of various players such as financial institution, foreign investor, corporation etc., there will be little risk of irrational decision making, because various investors hold each other in check. Therefore, this study suggests that companies need to diversify their shareholder composition to make more reasonable decisions and have a sound financial structure. Also this study expects that we can obtain more meaningful results if analysis is carried out by incorporating not only large corporations but also medium-sized companies on follow-up study in future.