• Journal of Distribution Science
• /
• v.21 no.3
• /
• pp.71-82
• /
• 2023

Purpose: This study examines the distribution of income diversification in improving the financial sustainability of private universities amidst difficulties in operational funding during the Covid-19 pandemic with IT Capability moderation. Research design, data and methodology: Closed survey aimed at 468 financial sector leaders from 189 private universities in ten provinces in Indonesia. Results: All income diversification activity variables have a significant positive effect on financial sustainability. In the analysis of liquidity indicators, there are two activities that have a significant positive effect, namely goods and services (β=0.337) and profitable financial management (β=0.124). Furthermore, the results of the solvency indicator test obtained significant positive results in Goods and Services Activities (β=0.337), Commercial Intellectuals (β=0.161), Commercial Contracts (β=0.103), and Profitable Financial Management (β=0.147). The results of the test of higher education growth indicators on three activities have a significant positive effect, namely Goods and Services (β = 0.290), Endowments (β = 0.158), and Commercial Contracts (β = 0.134). The results of the moderation test conclude that IT Capability strengthens the effect of income diversification on financial sustainability. Conclusion: The results of the study as a recommendation for private universities in developing income diversification with information system technology-based management.

• Journal of Applied Tourism Food and Beverage Management and Research
• /
• v.11
• /
• pp.135-135
• /
• 2000

The financial performance over the twenty four-year period (1968-1991) was analyzed with respect to six performance measures : current ratio, net sales to working capital for liquidity, total liabilities to net worth for solvency, asset turnover for activity, return on assets for profitability, and cost of operations for operating. Interesting enough, small size hotel companies have enjoyed great profitability while relatively big hotel companies have fallen under the average. Further, after a certain level of firm size, the costs of operations increase, not decrease, as plant size increase. This results lead to a conclusion that getting bigger is not always good financial decision.

• Korea Journal of Hospital Management
• /
• v.11 no.3
• /
• pp.19-41
• /
• 2006

The Objective of this study was to design the model which predict the future cash flow of hospitals and on the basis of designed model to support sound hospital management by the prediction of future cash flow. The five cash flow measurement variables discussed in financial accrual part were used as variables and these variables were defined as NI, NIDPR, CFO, CFAI, CC. To measure the cash flow B/S related variables, P/L related variables and financial ratio related variables were utilized in this study. To measure cash flow models were designed and to estimate the prediction ability of five cash flow models, the martingale model and the market model were utilized. To estimate relative prediction outcome of cash flow prediction model and simple market model, MAE and MER were used to compare and analyze relative prediction ability of the cash flow model and the market model and to prove superiority of the model of the cash flow prediction model, 32 Regional Public Hospital's cross-section data and 4 year time series data were combined and pooled cross-sectional time series regression model was used for GLS-analysis. To analyze this data, Firstly, each cash flow prediction model, martingale model and market model were made and MAE and MER were estimated. Secondly difference-test was conducted to find the difference between MAE and MER of cash flow prediction model. Thirdly after ranking by size the prediction of cash flow model, martingale model and market model, Friedman-test was evaluated to find prediction ability. The results of this study were as follows: when t-test was conducted to find prediction ability among each model, the error of prediction of cash flow model was smaller than that of martingale and market model, and the difference of prediction error cash flow was significant, so cash flow model was analyzed as excellent compare with other models. This research results can be considered conductive in that present the suitable prediction model of future cash flow to the hospital. This research can provide valuable information in policy-making of hospital's policy decision. This research provide effects as follows; (1) the research is useful to estimate the benefit of hospital, solvency and capital supply ability for substitution of fixed equipment. (2) the research is useful to estimate hospital's liqudity, solvency and financial ability. (3) the research is useful to estimate evaluation ability in hospital management. Furthermore, the research should be continued by sampling all hospitals and constructed advanced cash flow model in dimension, established type and continued by studying unified model which is related each cash flow model.

• Journal of Korea Water Resources Association
• /
• v.40 no.1 s.174
• /
• pp.63-72
• /
• 2007

The main purpose of this study is that financial resources allocation criteria are examined closely between central government and local government as well as among local government in a river basin. Financial resources allocation principles reflecting water use, flood control, and water quality improvement are reviewed and derived two categories such as common factors and individual factors. The weights of each factor are assigned by analytical hierarchy process. The results of applying four river basins (Han river, Geum river, Nakdong river, Yeongsan-seumjin river) show that rational raising of financial resources are different according to the characteristics of each river basin. Findings are as follows: In case of Han river and Yeongsan Seumjin river, benefit principle and polluter pay principle by individual factors are more attractive than other Principles. Solvency principle by common factor is more acceptable than the other principles in Nakdong-river and Geum-river.

• Journal of Distribution Science
• /
• v.12 no.3
• /
• pp.33-41
• /
• 2014

Purpose - The purpose of this study was to predict the selection of independent auditors in the companies listed on the Tehran Stock Exchange (TSE) using a combination of PSO algorithm and CART. This study involves applied research. Design, approach and methodology - The population consisted of all the companies listed on TSE during the period 2005-2010, and the sample included 576 data specimens from 95 companies during six consecutive years. The independent variables in the study were the financial ratios of the sample companies, which were analyzed using two data mining techniques, namely, PSO algorithm and CART. Results - The results of this study showed that among the analyzed variables, total assets, current assets, audit fee, working capital, current ratio, debt ratio, solvency ratio, turnover, and capital were predictors of independent auditor selection. Conclusion - The current study is practically the first to focus on this topic in the specific context of Iran. In this regard, the study may be valuable for application in developing countries.

• Journal of Korea Port Economic Association
• /
• v.33 no.4
• /
• pp.17-36
• /
• 2017

In the modern economic context, it is apparent that there is a strong focus on the importance of global shipping industry. Recently, the world economic crisis has negatively influenced the industry with regard to both supply and demand, which has seen almost no sign of recovery. The fact that the entire industry is operating with low efficiency and at a low profit state has made all stakeholders anxious. This research examines the financial performance of the world's major shipping lines in order to give maritime stakeholders a closer look into the industry behind the ranking. Besides, the research evaluates the competitiveness of shipping companies in terms of financial ability and suggestions for strategic actions to stakeholders are provided. For these purposes, Fuzzy-C Means is used to cluster the selected lines into different groups based on their financial indices, namely liquidity, asset management, debt management and profitability. Levene's tests which are then followed by ANOVA tests are also utilized to assess the robustness of the clustering outcomes. The results indicate that liquidity, solvency and profitability act as the main criteria in the classification problem.

• Smart Structures and Systems
• /
• v.4 no.5
• /
• pp.655-666
• /
• 2008

In the past 20 years, seismic isolation has see a variety of applications in design of structures to mitigate seismic hazard. In particular, isolation has been seen as a means of achieving enhanced seismic performance objectives, such as those for hospitals, critical emergency response facilities, mass electronic data storage centers, and similar buildings whose functionality following a major seismic event is either critical to the public welfare or the financial solvency of an organization. While achieving these enhanced performance objectives is a natural (and oftentimes requisite) application of seismic isolation, little attention has been given to the extension of current design practice to isolated buildings which may have more conventional performance objectives. The development of a rational design methodology for isolated buildings requires thorough investigation of the behavior of isolated structures subjected to seismic input of various recurrence intervals, and which are designed to remain elastic only under frequent events. This paper summarizes these investigations, and proposed a consistent probabilistic framework within which any combination of performance objectives may be met. Analytical simulations are presented, the results are summarized. The intent of this work is to allow a building owner to make informed decisions regarding tradeoffs between superstructure performance (drifts, accelerations) and isolation system performance. Within this framework, it is possible to realize the benefits of designing isolated buildings for which the design criteria allows consideration of multiple performance goals.

• The Journal of Asian Finance, Economics and Business
• /
• v.6 no.1
• /
• pp.33-45
• /
• 2019

This study analyzed the association between IFRS adjustments, measured with the IFRS reconciliations, and the subsequent meeting of target earnings. IFRS adjustments include the amounts to be adjusted intentionally, as well as the differences in accounting standards. This study estimated intentional IFRS adjustments and analyzed their association with meeting target earnings. As the results of our analysis, meeting target earnings was associated positively with intentional IFRS adjustments for the total assets, was negatively associated with them for current assets, and was positively associated with them for non-current assets. Since understatement of current assets can be realized into earnings in a short period of time, it seems that current assets were underestimated intentionally in order to meet target earnings subsequently. In contrast, it is considered that non-current assets were overestimated to make them more likely to meet target earnings either by increasing the firm size or by improving financial solvency. The results of this study imply that IFRS adjustments are useful to manage earnings for meeting target earnings. Since accounting standards may be established and revised constantly, which adjustments for them may occur, the results on IFRS adjustments are expected to have implications for investors, policy-makers, and standards establishment entities.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.5
• /
• pp.287-292
• /
• 2021

The article analyzes the impact of capital structure on the firm value of chemical companies listed on the stock market of Vietnam. Data was collected from the financial statements of 23 chemical firms listed on the Vietnam stock market from 2012 to 2019. Quantitative research method with regression model according to OLS, FEM, REM method is used; FGLS method is used to overcome the model's defects. In this research, firm value (Tobin's Q) is a dependent variable. Capital structure (DA), Return on assets (ROA), Asset turnover (AT), fixed assets (TANG), Solvency (CR), Firm size (SZ), Firm Age (AGE), and revenue growth rate (GR) are independent variables in the study. The analysis results show that the capital structure of firms in the chemical industry listed on the Vietnam stock market has an inverse correlation with firm value. Besides, firms with greater asset turnover, business size, and number of years of operation have lower firm value. This article helps corporate executives improve corporate value by adjusting their capital structure properly. Chemical firms adjusted their capital structure in the direction of gradually decreasing the debt ratio and gradually increasing equity. Firms use high debt, which has the effect of reducing the firm value of firms in the chemical industry.

• International Commerce and Information Review
• /
• v.15 no.1
• /
• pp.259-283
• /
• 2013

In this study has been suggested on the basis of the Court of Audit's report on trade insurance issues presented and the Export Credit Guarantee Insurance Improvement. First, the improvement insurance underwriting standards and come up with measures to improve the soundness of the insurance fund trading. In order to do this, (1) warranty for a lower credit companies strengthen underwriting standards, (2) raise short-term solvency and the accuracy of financial statements Review criteria Borrowings calculated based, (3) trustee companies Warranty Terms for improvement, (4) for closure of businesses quickly take measures of bond conservation measures. Second, through improved risk management measures to strengthen risk management for export credit guarantees are to be provided.