• The Korean Journal of Financial Management
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• v.17 no.1
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• pp.13-44
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• 2000

본 연구는 1987년부터 1997년까지 11년간을 연구기간으로 하여 이 기간 중에 유상증자를 실시한 기업에 대한 장기(長期) 성과를 조사했다. 연구방법으로는 증자기업과 기업규모, 장부가-시가비율, 수익성에 있어 유사한 비증자기업을 비교기업으로 엄선하여 양 그룹간의 증자 후 3면간의 주가수익률과 영업성과를 비교하는 방법을 택했다. 실증분석 결과 증자기업이 비증자기업에 비해 주가수익률과 영업성과에 있어 모두 열등한 성과를 보이고 있는 것으로 나타났다. 구체적으로 증자 후 3년 동안 증자기업의 보유기간수익률이 비증자기업에 비해 27.7%나 낮았으며, 증자전후 7년 동안의 영업성과에 있어서도 증자기업이 통계적으로 유의한 저성과를 보이고 있는 것으로 나타났다. 또한 유상증자로 재무구조가 개선된다는 증거도 발견할 수 없었다. 이 밖에도 연구는 초과 주가수익률과 초과 영업성과에 대한 시계열적 특징을 조사하였으며, 증자시점에 관해서도 주가가 상승하고 있을 때 유상증자를 실시하는 경향이 있지만 증자전 회계적 이익이 큰 기업이 증자를 실시하는 경향은 없다는 증거를 제시하고 있다.

• Journal of the Korean Regional Science Association
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• v.37 no.4
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• pp.3-19
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• 2021

This study examines changes in commercial space in Seoul from 1999 to 2016 by investigating operating periods of commercial businesses. This study finds that the characteristics of spatial changes in commercial districts are classified by the following two major points. First, the traditional CBD and Yeongdeung-po commercial districts show that both ages (survival duration) of operating commercial businesses and operating periods of market-exit businesses have changed to become longer than the average values of the two business types in Seoul. In contrast, the Gangnam and the Mapo commercial districts show that the operating periods of survived and closed commercial businesses have changed to become shorter over time. The difference suggests that survival-exit relations of businesses are closely related to the characteristics of each commercial district. In addition, this study shows that each commercial district has experienced dynamic changes in the intensity of commercial activities and the hierarchy of commercial space. Finally, this study indicates that public policies for commercial space should consider survival-exit dynamics of commercial activities in commercial districts.

• The Journal of the Korea Contents Association
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• v.17 no.3
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• pp.61-73
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• 2017

A huge rent rise has forced the number of merchants out of their workplace. it has required to review the duration of business, considering recognition about social, economic, cultural characteristic of merchant. this research has indicated influence factors about the duration of business, divided into less than 5 years and more than 5 years on the basis of operation period focused on historical and cultural street of Jongno-gu. The research results, new merchants(less than 5 years) has emerged in order of important factors : monthly sales, monthly rent, franchise, store premium, media public relations. Existing merchants(more than 5 years) has emerged in order of important factors : monthly rent, monthly sales, merchant community, store premium, floating population. Therefore, this research proposes the following implications. Firstly, new measures must be needed to protect merchants and legal regulations about sharp monthly rent. Secondly, when entering the franchises, local government must review business standards with reference to the type and scale.

• Journal of Regulation Studies
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• v.27 no.1
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• pp.153-188
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• 2018

This paper reviews the literature regarding exclusive territory restraint and encroachment and compares the development of related policies in the United States, the European Union, and South Korea. Furthermore, using coffee franchise industry data in South Korea, this paper analyzes the effects of the exclusive territory restraint on entry and exit of coffee shops. The results show that the growth rates of regulated brands' entry have stagnated during the implementation period of the KFTC's Franchising Best Practice Code. Moreover, the exit rates of coffee shops in two years after its entry decreased under the Best Practice Code and the revised Franchise Law.

• The Korean Journal of Financial Studies
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• v.4 no.1
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• pp.93-122
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• 1998

본 연구는 1988년부터 1990년까지 공개한 249개 제조업을 대상으로 기업공개를 전후하여 사기업이 공개기업으로 전환하는 과정에서의 변화를 분석하였다. 즉, 공개 전후의 재무적 특성, 영업성과, 소유구조, 배당정책의 변화를 분석하였다. 또한 상장 후 장기주가행태를 살펴보고 영업성과와의 관련성도 분석하였다. 249개 공개기업 중 상장 3년 후에는 오직 71%의 기업만이 정상적인 영업을 할 정도로 영업성과는 악화되었다. 상장년도의 총자산영업이익률과 자기자본순이익률은 기업공개와 함께 급감하며 이후에도 계속 하락하였다. 부채비율은 상장년도에 크게 감소하나 이후 점진적으로 증가하여 5년 후에는 상장 1년 전의 수준으로 증가하였다. 대주주 1인 지분율은 공개 이후 점진적으로 하락하며 지분을 변화는 상장직전의 지분을, 신주모집비율, 자본금 증가와 부의 관계를 갖는다. 공개 전에 배당성향은 매우 낮고 현금배당을 지급한 기업수가 작으나, 상장 이후에는 배당성향이 증가하고 차등배당을 실시하는 기업의 수가 증가하였다. 또한 공개 전에 대주주에게 과도한 배당금을 지급한다는 증거는 없었다. 상장 후 60개월의 누적평균초과수익률은 -15%이며, 산업별로 큰 차이가 나타난다. 기간별 누적초과수익률은 기간별 영업성과의 변화와 정의 유의적인 관계를 갖는 것으로 나타났다.

• Proceedings of the Korean Information Science Society Conference
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• 2011.06d
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• pp.289-291
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• 2011

스마트폰의 보급 확산과 웹2.0의 확대로 개인들의 정보 생산과 소비활동이 쉽게 이뤄지면서 참여, 공개, 대화, 커뮤니티 연결의 특성을 기반으로 한 소셜미디어의 등장과 활용빈도가 크게 증가되고 있다. 이러한 정보 통신 기술의 발전으로 '물리적인 지점망 = 영업력'이라는 등식이 더 이상 유효하지 않는 시대가 도래됨에 따라 고객을 '기다리는 영업'에서 '찾아가는 영업'으로 영업방식에 대한 새로운 접근법이 필요한 시점이다. 이에 본 논문에서는 기존 단방향성의 독점적인 '전달'에서 벗어나 양방향적인 정보흐름이 가능한 '소통'을 지원하는 온라인 관계 마케팅의 필요성을 살펴보고, CRM시스템과 연계하여 고객과 영업점 직원 창구단말기간 1:1 소통할 수 있는 새로운 마케팅 채널로서 SNS을 활용한 스마트 채널의 구축방안을 제시하고자 한다.

• Journal of Digital Convergence
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• v.20 no.4
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• pp.215-224
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• 2022

This study tried to examine the effect of cost asymmetry on food service companies and what characteristics affect such cost behavior. This study analyses cost behavior for cost of good sold, selling, general and administrative cost over the 2019-2020 period. Also, the rate of change in activity level was measured using change in sales. This study measures the behavior of cost using the research model of [1]. As a result of the analysis, it was found that food service companies exhibited cost asymmetric behavior as their sales level decreased. In addition, the cost asymmetric behavior has been strengthened since the corona virus, and the shorter the operating cycle. Lastly, the shorter the inventory holding period and the collection period of accounts receivable, which are components of the operating cycle, more strengthen asymmetric behavior of costs. These results seem to be meaningful in examining the cost structure and factors that may affect the structure for food service industry. This has approached the cost aspect of the situation faced by service food companies due to COVID-19, and it can be suggested that this pandemic can lead to cost reduction due to a decrease in corporate sales.

• Journal of Navigation and Port Research
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• v.39 no.3
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• pp.261-266
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• 2015

Many of previous studies suggested that working capital management is an important component of firm's financial decision and efficient working capital management affects firms' profitability and it's value. Recently, Korean shipping firms have been suffering from financial distress by recession of shipping economy. In this point of view, this study tries to investigate the relationship between working capital management and shipping firm's profitability, using panel data on 46 Korean shipping firms for the period of 2004-2013. As result of panel regression, it proved that average payment period, inventory turnover, cash conversion cycle and operating cycle are significantly associated with firms profitabilities such as profit margin ratio and operating profit ratio, and the manager of shipping firm can increase firms profitability by more efficient working capital management. There are strong positive relationships between average payment period and operating cycle and firm's profitability. These results suggest that managers can create firm's value by increasing average payment period and operating cycle. Otherwise inventory turnover and cash conversion cycle have negative relationships with firm's profitability. It means that managers can increase firm's profitability by reducing these variables.

• Culinary science and hospitality research
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• v.19 no.1
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• pp.42-56
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• 2013

This study showed that a sales executive officer, a founder of foodservice, and marketing methods and activities influence the duration of business and business performance. The hypotheses of the study are as follows. First, a foodservice business will influence marketing management. Second, marketing management will influence business performance. Third, founding a foodservice business influences business performance. Fourth, marketing management will influence the duration of business. Fifth, business performance will influence the duration of business. As a result, all the hypotheses are adopted. Consequently, business methods such as marketing activities and costs should be continually studied to improve management, and founders and managers should invest in marketing management in various ways.

• Korean Architects
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• s.555
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• pp.54-55
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• 2015