• Journal of Convergence for Information Technology
• /
• v.10 no.11
• /
• pp.324-331
• /
• 2020

This study used the financial information of 29 Regional public hospitals registered in the HASPA. Regional public hospitals analyzed the ratio of operating financing by management activities and how they affect net profit. The results of the study, Regional Public Hospitals ratio of fund financing for management activities was 83.50 percent for medical revenues, 9.53 percent for Incidental Revenue of Medical, 4.54 percent for Contribution Revenue, 4.42 percent for Other non-medical profits, 1.21 percent for depreciation Expense and 0.73 percent for Amount of reserve for unique purpose project. As a result of examining the effect of financing by management operation on net profit, the ratio of operating funds by medical revenue, by incidental revenue of medical, by contribution revenue and by other non-medical profits had a positive impact on net profit of Regional public hospitals. And It has been confirmed that the ratio of amount of reserve for unique purpose project has a negative impact on net profit. Therefore, it is necessary for Regional public hospitals to manage costs in consideration of revenues and internal reserves.

• Journal of Navigation and Port Research
• /
• v.43 no.4
• /
• pp.264-272
• /
• 2019

In this study, the rate of return on investment used as a proxy variable for the entity's value and financial structure (liability ratio) is related to positive balance. This is consistent with the Static Tradeoff Theory (STT) that the entity's value and financial structure are related to a positive balance because the capital expense of a debt (tax-saving effects) that is less than its equity cost before it is in financial difficulty. Also, operating profitability (EBITDA/Sales), investment safety, total asset growth, net working capital and depreciation expenses are related to negative (-) with financial structure (liability ratio). This is the result of an analysis consistent with the Pecking Order Theory (POT). Fuel costs, borrowing, total asset turnover, financial costs, and tangible asset ratios have a significant positive relationship with the debt ratio. This is consistent with the agency theory and confirms that excessive chartering expenses, such as the bankrupt H company, are the main factors that pressure the financial structure of Korean ocean carriers.

• Management & Information Systems Review
• /
• v.36 no.4
• /
• pp.21-32
• /
• 2017

Motivated by the recent cases of negligent social responsibility as manifested by foreign luxury fashion brands in Korea, this study investigates whether agency costs depend on the sustainability of different types of corporate governance. Agency costs refer either to vertical costs arising from the relationship between stockholders and managers, or to horizontal costs associated with the potential conflicts between majority and minority stockholders. The firms with luxury fashion brand could spend large sums of money on maintenance of magnificent brand image, thereby increasing the agency cost. On the contrary, the firms may hold down wasteful spending to report a gaudily financial achievement. This results in mitigation of the agency cost. Agency costs are measured by the value of the principal component. First, three ratios are constructed: asset turnover, operating expense to sales, and earnings before interest, tax, and depreciation. Then, the scores of each of these ratios for individual firms in the sample are differenced from the ratios for the benchmark firm of S-OIL. S-OIL was designated as the best superior governance model firm for 2013 by CGS. We perform regression analysis of each agency cost index, luxury fashion brand dummy and a set of control variables. The regression results indicate that the agency costs of the firms with luxury fashion brand exceed those of control group in the fashion industry in the part of operating expenses, but the agency cost falls short of those of control group in the part of EBITD, thus the aggregate agency costs are not differential of those of the control group. In sensitivity test, the results are same that the agency cost of the firms are higher than those of the matching control group with PSM(propensity matching method). These results are corroborated by an additional analysis comparing the group of the companies with the best brands with the control group. The results raise doubts about the effectiveness of management of the firms with luxury fashion brand. This study has a limitation that the research has performed only for 2013 and this paper suggests that there is room for improvement in the current research methodology.

• Korean Journal of Soil Science and Fertilizer
• /
• v.41 no.2
• /
• pp.143-152
• /
• 2008

In order to share the understanding agricultural multifunctionality with people, we carried out quantification and monetary evaluation for controlling flood and fostering water resources function in paddy and upland farming in Korea. The amount of water controlling flood and fostering water resources function in paddy farming was much greater than that in upland. The quantification of flood control function could be estimated by sum of the height of dike and water infiltrated during the flooding periods in paddy farming, and water excepting runoff water from precipitation at flooding time in upland farming. As results of estimation of flood control function, the amounts of water controlling flood have been evaluated as $294mm\;year^{-1}$ in paddy farming and $72.6mm\;year^{-1}$ upland farming, and was calculated 3.71 billion MT on a nation basis in 2006. When it was carried out monetary estimation as the cost of dam construction and the depreciation expense by using replacement cost method, flood control functions in paddy and upland were evaluated as 44,338.9 and 7,221.5 billion won, respectively. Comparing with previous reports, monetary value was analyzed much to increase because of rising price cost recently. Fostering water resource functions were also quantified in paddy and upland farming as the amount of water keeping and infiltrating water during the cultivation. In the basis of estimation model, it was showed that paddy and upland farming had been estimated to have $414.28mm\;year^{-1}$, $18.7mm\;year^{-1}$, respectively. They were also calculated to 4.49 and 0.137 billion MT on a nation basis in 2006, respectively. The economic values of fostering water resources function in paddy and upland farming were also estimated to 1,769.4 and 52.8 billion won, respectively, as replacing the amount of water to the cost of drinking water in 2006. There were differences by much to the amounts of controlling flood function and fostering water resource between paddy and upland farming. It means that paddy farming more play an important role in environment than upland farming in Korea.