• Health Policy and Management
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• v.18 no.2
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• pp.19-38
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• 2008

Financial ratios are key indicators of an organization's financial and business conditions. Among various financial indicators, profitability, financial structure, financial activity and liquidity ratios are frequently used and analyzed. Using the structural equation modeling(SEM) technique, this study examines the structural causal relationships among key financial indicators. Data for this study are taken from complete financial statements from 142 hospitals that passed the standardization audit undertaken by the Korean Hospital Association from 1998 to 2001 for the purpose of accrediting teaching hospitals. In order to improve comparability, ratio values are standardized using the Blom's normal distribution. The final model of the SEM has four latent constructs: financial activity(total asset turnover, fixed asset turnover), liquidity(current ratio, quick ratio, collection period), financial structure(total debt to equity, long-term debt to equity, fixed assets to fund balance), and profitability(return on assets, normal profit to total assets, operating margin to gross revenue, normal profit to gross revenue). While examining several model fit indices(Chi-square (df) = 178.661 (40), likelihood ratio=4.467, RMR=.11, GFI=.849, RMSEA=.157), the final SEM we employed shows a relatively good fit. After examining the path coefficient of the constructs, the financial structure of the hospital affects the hospital's profitability in a statistically significant way. A hospital which utilizes its liabilities, more specifically fixed liabilities, and makes a stable investment decision for fixed assets was found to have a higher profitability than other hospitals. Then, the standard path coefficients were examined to directly compare the influence of variables. It was found that there were no statistically significant path coefficients among constructs. When it comes to variables, however, statistically significant relationships were found. between. financial activity and. fixed. asset turnover, and between profitability and normal profit to gross revenue. These results show that the observed variables of fixed asset turnover and normal profit to gross revenue can be used as indicators representing financial activity and profitability.

• Proceedings of the Technology Innovation Conference
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• 2006.02a
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• pp.170-186
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• 2006

The guarantee funds for government policy fund, venture capital investment fund, technology guarantee debt are the core parts of the external financing system in the constant technology innovation company. However, the enterpriser's requirement to keep the technology innovation with minimized management intervention and policy maker's hope to advance technology development with clear operation of funds is enough to request for research of the project investment plan to the R&D project. This paper will analyze whether technology innovation company that creates cash flow prefers to the project investment as a financing program or not, and if prefers, what characters of company affect on this preference. The more the company that pursuit the additional R&D activity separated to on-going items becomes over the fixed size, the more prefers the project investment as future external fund-raising. Together with that, this paper suggests that we can apply the plan like special purpose vehicle, SWORD(Stock Warrant Off-Balance sheet R&D) and R&D Limited Partnership as R&D project investment policy, and improve the system itself.

• Journal of the Korea Convergence Society
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• v.9 no.12
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• pp.259-264
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• 2018

This study analyzes whether the national scholarship system achieves the policy goal to provide the half-tuition and suggests ways to improve the policy. The study finds that the national scholarship system provides free education for students from under 2nd decile income and the half-tuition for students from under 6th decile. However, since students don't feel fully the effect of the policy, this study proposes policy improvements on new approaches to public communications. Also is suggested the necessity to change the policy tool from debt-like to equity-like investment.

• International Journal of Computer Science & Network Security
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• v.21 no.9
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• pp.239-246
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• 2021

This article substantiates the scientific provisions for modelling the level of Ukraine's public financial security taking into account the impact of budget policy, in the process of which identified indicators of budget policy that significantly affect the public financial security and the factors of budget policy based on regression analysis do not interact closely with each other. A seven-factor regression equation is constructed, which is statistically significant, reliable, economically logical, and devoid of autocorrelation. The objective function of maximizing the level of public financial security is constructed and strategic guidelines of budget policy in the context of Ukraine's public financial security are developed, in particular: optimization of the structure of budget revenues through the expansion of the resource base; reduction of the budget deficit while ensuring faster growth rates of state and local budget revenues compared to their expenditures; optimization of debt serviced from the budget through raising funds from the sale of domestic government bonds, mainly on a long-term basis; minimization of budgetary risks and existing threats to the public financial security by ensuring long-term stability of budgets etc.

• East Asian Economic Review
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• v.17 no.4
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• pp.361-383
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• 2013

We find that institutional quality of an individual country was highly and significantly correlated with its economic performance in the euro area. We argue that governance reforms proposed at present do not suffice to resolving the fundamental problems of the EMU governance system unless disparities of institutional quality in member states are dissolved. Regarding regional integration, East Asia is far behind the Eurozone not only in institutional elements of the governance system but also in institutional quality at the level of individual nations.

• Journal of Digital Convergence
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• v.15 no.11
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• pp.37-48
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• 2017

This study aims to examine the effect of housing environment on single mothers' health and to find out how to improve their health and housing environment. For the purpose, this study analyzed the Single-parents survey carried out by Ministry of Gender Equality and Family in 2015. The results are as follows. When residential functions such as mining, heating, and noise are not fulfilled among the physical characteristics of the residential environment, single-mothers are more likely to feel unhealthy. Among the socio-economic characteristics of housing, people who live in public rental housing are more likely to feel unhealthy than those living in own house. And people who have excessive household debt are less healthy than those having no debt. Socioeconomic characteristics of housing environments had a significant effect on depression of single-mothers. Based on the results, the author suggested that housing improvement services, survey of housing conditions of single parents, provision of services considering household debt and improving residential conditions of public rentals houses should be implemented.

• Journal of Environmental Policy
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• v.9 no.4
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• pp.29-52
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• 2010

This paper analyzes the firm's financial characteristics, influence over the adoption of the ISO 14001 adoption in our analyses. We used the T-test, a logistic regression analysis. We chose 112 Steel Enterprises from Korea Accreditation Board. The independent variables are current ratio, debt ratio, fixed assets to net worth and fixed liabilities, gross margin on sales, total assets turnover, net sales growth rate. This study tests three hypotheses on management performance of adoption of ISO 14001. The main findings are as follows. The first hypothesis is supported in terms of debt ratio, fixed assets to net worth and fixed liabilities, net sales growth rate at the 1%, 5%, 5% significance level. The second one is supported in terms of current ratio, debt ratio, fixed assets to net worth and fixed liabilities at the 10%, 1%, 1% significance level. The third one is supported in terms of gross margin on sales, total assets turnover at the 1%, 10% significance level. These findings have important implications

• Journal of Digital Convergence
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• v.14 no.8
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• pp.105-113
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• 2016

This study analyzed and verified panel data based on CSMAR (China Stock Market & Accounting Research) DB from 2002 to 2014 in order to find out significant differences of conservative accounting before and after Chinese companies adopted international accounting standards. Financial changes in companies can occur at the point of change in accounting standards, and as the difference would affect conservative accounting, it is important to understand conservatism in financial transaction. In this study, earnings per share and price, return on equity, and debt ratio were measured. As a result of analysis, conservative accounting has increased after the introduction of accounting standards, and as the debt ratio was higher, the proportion of conservative accounting was higher. Thus, at a certain point of change in accounting standards, companies apply conservative accounting in order to improve reliability in an unstable future financial environment. Therefore, this study is expected not only to practically influence business practice in changes in GAAP rules but also to provide useful guidance for future studies.

• Journal of Digital Convergence
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• v.12 no.5
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• pp.79-87
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• 2014

In general, at the relationship between claim and obligation if debtor does not fulfill its obligations arbitrarily the creditor can claim to debtor such as lawsuit. It means, despite the debtor ordered payment through the judgment, if debtor disobey that judgment, compulsory execution can be performed by the force of the country. In the end, fulfillment of obligation is enforced by national authorities in principle. However, exceptionally, even it established as a valid debt, if debtors fulfill themselves, they may not be protected from the national authorities. That is the natural obligation. The natural obligation originated from the Roman law which enforces strict type legal system and it is exceptional phenomenon in modern civil law which is made up as that all the bonds are likely to recourse. Therefore, in Korean theory acknowledge that debt is natural obligation and there is no exception. However, there are still controversy about the presence and occurrence of natural obligation. So, in this paper, want to review about its extent and effect including the concept of natural obligation.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.873-882
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• 2021

The study investigates the key factors that affect the adoption of the International Financial Reporting Standards (IFRS) by companies listed on Ho Chi Minh Stock Exchange (HOSE) in Vietnam. The factors that are studied in this research include total debt-to-equity ratio, firm size, return-on-equity ratio, audit quality, foreign investment, and financial institution category. The authors have utilized quantitative and qualitative analyses in combination with a logistics regression model and other available analytical tools for conducting the research. All statistics processed in the paper were based on 379 audited financial statements issued in 2018. The results reveal that factors like firm size, return on equity (ROE), audit quality, foreign investment, and financial institution category positively affect the IFRS adoption of HOSE-listed companies, while total debt-to-equity ratio negatively impacts the adoption. The findings suggest Vietnamese law and policy-makers, when promoting the adoption of IFRS by listed companies, should focus more on five variables with positive influence and they can disregard the total debt-to-equity ratio that is insignificant as a factor affecting the adoption of IFRS. This implication could be applied for other firms in Vietnam and for enterprises in other countries, which are in the same stage of IFRS application.