Abstract

This study examines whether stock market, firm size and 'substantial investigation system of delisting' affect the prediction model of delisting firms, focusing on the delisted firms of KOSPI and KOSDAQ from 2001 until 2011. The results of the analysis are the following. First, the prediction model of delisting firms of the KOSDAQ firms shows the higher suitability than those of the KOSPI firms. Secondly, the prediction model of delisting firms of the small firms shows the higher suitability than those of the large firms. Thirdly, the prediction model of delisting firms of the following 'substantial investigation system of delisting' firms shows the higher suitability than those of the previous 'substantial investigation system of delisting'. The contribution of the study is to show that stock market, firm size and 'substantial investigation system of delisting' can affect the prediction model of delisting firms.

Keywords

• Stock market
• Firm size
• Substantial investigation system of delisting
• Prediction model of delisting firms

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