• Title/Summary/Keyword: 장부가

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Convertible Debt Issuance and A Firm's Growth (전환사채 발행과 기업의 성장성)

  • Jung, Moo-Kwon;Cha, Myung-Jun
    • The Korean Journal of Financial Management
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    • v.26 no.3
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    • pp.1-29
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    • 2009
  • Since convertible debt has both characteristics of stocks and bonds, its issuance can be related to both interests of stockholders and bondholders. Nevertheless, the existing studies focused mainly on the wealth effect on stockholders. In this paper we revisit the hypotheses on the issue of convertible debt especially from the viewpoint of a firm's growth, by making an additional investigation into bondholders' wealth effects. We find that stockholders' wealth increases with bondholders' wealth in the firm whose book-to-market ratio is low and thus is considered a growth firm. This finding seems consistent with the hypothesis in which the issue of convertible debt mitigates the agency cost of debt in the high-growth firm.

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Evaluation of Dowel Bar on the One-way Shear and Shear Friction Behaviors of Hybrid Beams Composed of Steel and Reinforced Concrete Elements (강재-콘크리트 하이브리드 보의 일축 전단 및 전단마찰 거동에서 장부철근의 영향평가)

  • Kwon, Hyuck-Jin;Yang, Keun-Hyeok;Hong, Seung-Hyun
    • Journal of the Korea Concrete Institute
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    • v.29 no.1
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    • pp.93-100
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    • 2017
  • This study examined the one-way shear in concrete beam region and shear friction in joint region of a hybrid H-steel-reinforced concrete (HSRC) beam system with a simple ductile connection. One-way shear tests were conducted under overhanging beam system with a shear span-to-depth ratio of 1.6. Simple beams for shear friction were tested under two-point symmetrical top loads producing a clear shear span-to-depth ratio of 0.1. Test results showed that the dowel bars arranged in joint region insignificantly influence the propagation of shear cracks but enhances the shear strength of the HSRC beams by approximately 25%. The one-way shear strength and shear friction strength of HSRC beams can be conservatively evaluated using the design equations specified in ACI 318-14 and EC2 shear provisions.

An Experimental Study on the Shear Resistance of Dowel Bars (장부철근의 전단저항에 대한 실험적 연구)

  • 신장호
    • Magazine of the Korea Concrete Institute
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    • v.7 no.6
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    • pp.216-223
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    • 1995
  • This research is aimed to investigate the influence of the structural parameters on dowel action of reinforcing bars in reinforced concrete members. I~ollowing the previous research, $^{(3.6)}$ a total of forty two specimens were tested to scrutinize the dowel action of reinforcing bars. Concrete cover, reinforcing bar size and bar distance were taken as main test variables for constant compressive strength of concrete. ]+om the test results, the structural behavior of all specimens was almost linear up to failure load. It is seen that dowel force increases as concrete cover increases. Reinforcing bar size and bar distance hardly affects dowel force. It is found that the dowel forces obtained by this experimental research is relatively close to that of regression analysis results and White's equation.

A Questionnaire of Constitution Classification, Emotion, and Health using Yin-Yang and Five Element Properties (음양오행 체질, 성격, 건강 및 감성지수 설문지)

  • 장동순;신나일;신미수;최혜선;배연경
    • Proceedings of the Korean Society for Emotion and Sensibility Conference
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    • 1998.11a
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    • pp.30-39
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    • 1998
  • 음양오행의 오행에 해당하는 화, 수 목, 금, 수를 원동력의 물리적 개념에 입각하여 5가지의 성격을 가진 에너지 또는 힘으로 정의하였다. 이 정의에 기초하여 사람의 얼굴 형상, 기본적인 성격, 병든 성격 등 체질, 감정, 건강에 관계된 100개 이상의 문항을 가진 설문지를 완성하였다. 설문지의 구성은 오행의 화, 수, 상, 금, 수 5 분야와 더불어 생명력을 나타내는 상화를 포함 6개 분야로 구성되었으며 각 분야에는 각각 20여 개의 문항을 만들었다 구체적으로 각 오행에 해당하는 장부가 크거나 좋을 때 나타날 수 있는 기본적인 성격과 부정적인 성격을 파악하는 질문으로 10문제를 만들었으며 다른 10문제에는 해당장부가 나쁠 때 나타날 수 있는 육체적/정신적 증상을 묻는 문제를 제시하였다. 그리고 마지막 2∼3문제는 정신적으로 광적인 증세를 묻는 총 130여 문항으로 구성하였다 설문지 평가 결과 스스로 성격진단, 섭생이나 인, 의, 예, 지 실 덕목의 연관관계, 직장에서 인적 자원 배치와 함께 산업안전과의 연관관계 등을 구체적으로 나타내었다. 제한된 평가결과 비교적 사람의 체질이나 성격 등을 잘 파악하였으나 교육이나 유전 또는 사주에 의한 특성이 강할 때는 예외성을 나타내는 것으로 생각되었다.

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The Value Relevance of Accounting Numbers in the New CEO's Early Years of Service (최고경영자 취임 초기 회계수치의 가치관련성)

  • Gong, Kyung-Tae
    • Management & Information Systems Review
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    • v.35 no.1
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    • pp.143-154
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    • 2016
  • In this research, The new CEO is expected to increase a reporting income through earning management for individual benefit such as a good reputation, high compensation and CEO' s contract extension in the early years of service, of which may influence value relevance of the accounting numbers. We investigate the change of value relevance from 2004 to 2014, compare firms with a change of CEO and firms with non-change of CEO and analysis the value relevance in the early years and in the late years of the new CEO. The results of research are as follows. First, value relevance of EPS of firms with change of CEO are decreased, whereas value relevance of BPS are increased in the regression of all sample. Second, value relevance of EPS are decreased, whereas value relevance of BPS are increased in the early years of the new CEO. This research makes a contribution to provide the first proof about influence of value relevance by the earning management in the early years of the new CEO in Korea.

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