• Journal of Industrial Convergence
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• v.21 no.11
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• pp.13-27
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• 2023

This study aims to contribute to the reduction of the failure rate and social costs resulting from business failures by analyzing factors that affect the insolvency of social enterprises, as the role of social enterprises is increasing in our economy. The data used in this study were classified as normal and insolvent companies among social enterprises (including prospective social enterprises) that were established between 2009 and 2018 and received credit guarantees from credit guarantee institutions as of the end of June 2022. Among the collected data, 439 social enterprises with available financial information were targeted; 406 (92.5%) were normal enterprises, and 33 (7.5%) were insolvent enterprises. Through a literature review, eight non-financial factors commonly used for insolvency prediction were selected. The cross-analysis results showed that four of these factors were significant. Logistic regression analysis revealed that two variables, including corporate credit rating and the personal credit rating of the representative, were significant. Financial factors such as debt ratio, sales operating profit rate, and total asset turnover were used as control variables. The empirical analysis confirmed that the two independent variables maintained their influence even after controlling for financial factors. Given that government-led support and development policies have limitations, there is a need to shift policy direction so that various companies aspiring to create social value can enter the social enterprise sector through private and regional initiatives. This would enable the social economy to create an environment where local residents can collaborate to realize social value, and the government should actively support this.

• Journal of Korea Game Society
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• v.14 no.4
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• pp.67-74
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• 2014

Real options valuation models are now proved as a effective valuation method both in Theoretically and empirically. However, to use real options model for early stage start-ups, additional non-financial information is crucial in the valuation process. Previous studies theoretically suggested the modified real options valuation model and process to use non-financial information in the valuation of early stage startups, but there is no empirical evidence on the suggested model. Therefore, this study investigated the effectiveness of the modified real options valuation model using a case study. The case study result showed that the modified real options valuation effectively reflect the non-financial information in early stage startups, and decrease the forecasting error in the valuation process.

• Proceedings of the Korean Society of Broadcast Engineers Conference
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• 2018.11a
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• pp.177-179
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• 2018

기존 산업평가 방법은 산업별로 분류된 기업의 재무, 비재무 관련 정형 데이터를 기반으로 통계적 기법을 이용하여 각 산업을 평가하고 있다. 이러한 정형 데이터 기반의 산업 평가 방법은 산업별 재무 정보의 집계 및 통계에 오랜 시간이 소요된다. 따라서, 현재 시장 상황을 반영하기 어려운 현실이다. 최근에는 빠르게 변화하는 산업 환경을 반영하기 위해 뉴스 기사와 같은 비정형 데이터를 통해 산업 트랜드를 분석하기 위한 연구가 이루어 지고 있다. 이에, 본 논문에서는 실시간으로 변화하는 산업 트렌드를 반영하여 적시에 산업 분석 정보를 제공하기 위해 정형/비정형 데이터 기반의 산업평가 정보 분석 엔진을 구현하고, 산업별로 분석된 산업평가 정보를 활용하여 사용자가 직관적인 판단을 할 수 있도록 산업평가 정보 시각화 서비스를 제안한다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.6
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• pp.135-154
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• 2020

This paper analyzes the 5,521 samples of the small and medium-sized businesses(SMBs) obtained from the Korea Credit Guarantee Fund. From January 2014 to September 2019, 85% of the SMBs have 5 or fewer full-time employees. The proportion of SMBs is overwhelmed by the elderly men, and most founders are the CEO. Also, about 87% of the workplace types are rented, while 64% of the CEO's residence types are owner-occupation. 47% of the financial grade score is less than 10 points out of 100 and 80% of SMBs have less than 200 million won of the loan guarantee. In particular, the total guarantee loan amount or the days of net guarantee have significantly positive relations with the working period of the CEO in the same industry, the number of employees, the operation period of SMBs, and the corporate business type. In the case of the financial grading score which has the highest weight in overall credit rating gets higher with the higher number of employees, the longer the operation period, and the corporate business type. However, the quantified non-financial grading score has no significant relationship with other explanatory variables, except for the corporate business type. This implies that a non-financial grade score is measured by other determinants that are not observed by the Korea credit guarantee fund. The pure non-financial grade score has positive relations with the working period of the CEO. Overall, this paper would help Korean SMBs upgrade their credit ratings and expand the money supply when there is no standardized credit rating model or no publicly available evaluation criteria for SMBs. We expect this paper provides important insights for further research and policy-makers for SMBs. In particular, to address the financial needs of thin-filers such as SMBs, technology-based financial services (TechFin) would use alternative data to evaluate the financial capabilities of thin-filers and to develop new financial services.

• Journal of Digital Convergence
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• v.12 no.6
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• pp.193-202
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• 2014

Recently the corporate environment is rapidly changing with the development of information technology and globalization of market environment. In order to acquire competitive advantage and promote long- term growth in this corporate environment, korean federation of community credit cooperatives are adopting PMS. However, there have been few studies on the beneficial effects of PMS. A survey was conducted suing a questionnaire on korean federation of community credit cooperatives and collected data were analyzed. This study examines the relation between performance measures and organizational performance. first, financial measures had a significant positive(+) effect on organizational performance. second, non- financial measures had a significant positive(+) effect on organizational performance. Such findings suggest that use of performance measures have a positive impact on organizational performance. the effects of non-financial measures on organizational performance are found more clearly than the effects of financial measures on organizaitonal performance.

• Journal of Digital Convergence
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• v.12 no.1
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• pp.177-192
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• 2014

In this study, To identify the member of an organization can be affected use of information technology and support of information technology how business strategy affected business performance. Also, This study is considered to be the epitome of corporate strategy in the Miles & Snow of the 'adaptation strategy' and Michael E. Porter of the 'fundamental competitive strategy' at the same time, by applying the existing business management strategy that can be applied to target compared to the type of management performance measures are presented for the purpose. the results of the study can be summarized as follows. First, Business strategies affect the financial performance for the hypothesis that Miles & Snow of the 'adaptation strategy' honor type of defensive strategy and financial performance and strategy management and positive impact on non-financial performance was found. Second, Management strategies affect the financial performance for the hypothesis that Michael E. Porter of the 'fundamental competitive strategies' overall cost leadership strategy and differentiation strategy of management and financial performance and non-financial performance was found to positively impact. Also, Business performance management strategy significantly positive affect, Business strategies with the characteristics of the relationship between management and Information technology utilization showed that the moderating effects.

• The Journal of the Korea Contents Association
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• v.17 no.2
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• pp.489-498
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• 2017

This study analyzed whether the suitability of strategy is playing a regulative role between IT characteristics & user characteristics and non-financial performance empirically. To this end, this study set up IT characteristics and user characteristics as independent variables, and set up non-financial performance as the performance variable of KMS, and also set up the suitability of the management strategy & informatization strategy of a business as moderating variables. This study defined the detailed factors in IT characteristics as IT maturity and IT/IS infrastructure while defining the detailed factors in user characteristics as perceived profit, organizing of learning, and user professionalism. In addition, this study defined non-financial performance as an organization member satisfaction, and KMS availability. As a result of the analysis, IT maturity & IT/IS infrastructure, which are defined as IT characteristics, and perceived profit, organizing of learning and user professionalism, etc., which were defined as user characteristics, were found to be variables playing a regulative role in non-financial performance.

• Journal of the Korea Society of Computer and Information
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• v.29 no.5
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• pp.155-164
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• 2024

This study proposes an unsupervised learning-based clustering model to estimate the ESG ratings of domestic public institutions. To achieve this, the optimal number of clusters was determined by comparing spectral clustering and k-means clustering. These results are guaranteed by calculating the Davies-Bouldin Index (DBI), a model performance index. The DBI values were 0.734 for spectral clustering and 1.715 for k-means clustering, indicating lower values showed better performance. Thus, the superiority of spectral clustering was confirmed. Furthermore, T-test and ANOVA were used to reveal statistically significant differences between ESG non-financial data, and correlation coefficients were used to confirm the relationships between ESG indicators. Based on these results, this study suggests the possibility of estimating the ESG performance ranking of each public institution without existing ESG ratings. This is achieved by calculating the optimal number of clusters, and then determining the sum of averages of the ESG data within each cluster. Therefore, the proposed model can be employed to evaluate the ESG ratings of various domestic public institutions, and it is expected to be useful in domestic sustainable management practice and performance management.

• The Journal of Society for e-Business Studies
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• v.17 no.3
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• pp.73-84
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• 2012

With transition to Knowledge society and introduction of information industry, there are many companies which have higher stock price than the suggested value from its financial information. To explain similar cases in capital markets, many researchers focus on non-financial information such as Web Traffic data or intangible assets such as intellectual property rights rather than traditional financial analysis. Besides, the relationships between financial and non-financial information with firm value are changed according to industry lifecycle. As Industry grows, financial information of company is more important for firm valuation in Capital market. We'd like to review the changes of relationships between financial information and firm valuation in Capital market especially for "Software", "Digital Contents", and "Internet" companies listed in Kosdaq market during 2000~2011. The result of data analysis shows the financial information gets more important after 2007. Inversely, it provides analytical bases that related industry gets mature. Also we show that intangible properties are more relevant to stock price of those technical based companies than others.

• Journal of Venture Innovation
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• v.7 no.1
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• pp.77-90
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• 2024

While discussions on ESG are actively taking place in Europe and other countries, the number of countries pushing for mandatory ESG information disclosure related to non-financial information of listed companies is rapidly increasing. However, as companies respond to mandatory global ESG information disclosure, problems are emerging such as the stringent requirements of global ESG disclosure standards, the complexity of data management, and a lack of understanding and preparation of the ESG system itself. In addition, it requires a reasonable analysis of how business management opportunities and risk factors due to climate change affect the company's financial impact, so it is expected to be quite difficult to analyze the results that meet the disclosure standards. In order to perform tasks such as ESG management activities and information disclosure, data of various types and sources is required and management through an information system is necessary to measure this transparently, collect it without error, and manage it without omission. Therefore, in this study, we designed an ESG data integrated management model to integrate and manage various related indicators and data in order to transparently and efficiently convey the company's ESG activities to various stakeholders through ESG information disclosure. A framework for implementing an information system to handle management was developed. These research results can help companies facing difficulties in ESG disclosure at a practical level to efficiently manage ESG information disclosure. In addition, the presentation of an integrated data management model through analysis of the ESG disclosure work process and the development of an information system to support ESG information disclosure were significant in the academic aspects needed to study ESG in the future.