• 수산경영론집
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• 제45권3호
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• pp.55-69
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• 2014

We try to test the pecking order theory of Korean fisheries firm's capital structure using debt capacity. At first, we estimate the debt capacity as the probability of assigning corporate bond rating from credit-rating agencies. We use logit regression model to estimate this probability as a proxy of debt capacity. The major results of this study are as follows. Firstly, we can confirm the fisheries firm's financing behaviour which issues new debt securities for financial deficit. Empirical test of SSM model indicates that the higher probability of assigning corporate bond rating, the higher the coefficient of financial deficit. Especially, high probability group follows this result exactly. Therefore, the pecking order theory of fisheries firm's capital structure applies well for high probability group which means high debt capacity. It also applies for medium and low probability group, but their significances are not good. Secondly, the most of fisheries firms in high probability group issue new debt securities for their financial deficit. Low probability group's fisheries firms also issue new debt securities for their financial deficit within the limit of their debt capacity, but beyond debt capacity they use equity financing for financial deficit. Therefore, the pecking order theory on debt capacity come into existence well in high probability group.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.355-363
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• 2020

This study aims to investigate whether financial attitude links financial literacy to financial capability. To make sound financial decisions, one essentially requires a certain level of financial literacy - knowledge and skill in finance. Even more effective is when one's financial literacy could be developed into financial capability. The samples comprised 342 individuals from informal labor in the South of Thailand. The stratified multistage sampling technique was utilized to select the respondents, while the interview questionnaires were used to collect the data. By using SmartPLS 3.0, the data analysis included descriptive statistics and structural equation modeling (SEM). The result revealed that the one with the highest debt was Gen Y compared to Gen B and Gen X. Considering financial literacy, financial attitude, and financial capacity across generations, it was found that Gen Y had the highest average score in financial literacy and financial capacity, higher than that of Gen X and Gen B. The impact of financial literacy on financial capability through financial attitude, it was found that the impact on Gen B was higher than that of Gen X and Gen Y. With the right financial attitude, people of all generations would be equipped with a higher level of financial capability.

• International Journal of Computer Science & Network Security
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• 제22권7호
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• pp.109-116
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• 2022

The article is devoted to perfecting the system of management of the financial potential of transport enterprises. It is established that transport as an integral part of the state economy has to organically enter the market economy and provide sustainable transport services to national economy enterprises regardless of ownership, as well as ensure passenger transportation. It is also determined that in the conditions of market relations, transport highways must perform their functions with sufficient economic benefit to keep their material and technical resources in good order, conduct an investment policy with extensive use of scientific and technological progress, as well as a social policy guaranteeing the conditions for employees' motivated work. The study reveals an association between the financial and strategic goals of transport enterprises and the minimization of their economic risks, the prevention of bankruptcy and profit margin shortfalls. It is found that transport enterprises need to strive for the overall improvement of their financial potential through increasing the components of financial potential and assessing the impact of risk factors on them: the capacity of fixed assets, the capacity of financial resources, the capacity of services, and the capacity of credit opportunities. These are the elements of transport enterprises' financial potential that ensure its desired level. It is demonstrated that of critical importance in managing the financial potential of a transport enterprise is the role of financial resources, as a subject cannot reach the desired strategic goals without them.

• The Journal of Asian Finance, Economics and Business
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• 제8권6호
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• pp.1203-1211
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• 2021

This study aims to examine the Analysis of Factors Affecting Village Financial Management in Bali Province. Research with a quantitative approach. The research sample consisted of 87 village heads who manage village finances and are responsible for village government financial reports. The data analysis technique uses multiple linear regression and the data collection technique uses a questionnaire. The results showed that the duality of village government (customary village and village apparatus), the capacity of village government officials and the competence of village assistants had a significant effect on the success of village fund management. Meanwhile, accountability does not affect the success of village fund management due to the lack of responsibility of village government officials for village financial management, which causes a negative impact on the sustainability of village governance. Empirically, the better the level of accountability, the better the success of village financial management. Other research results place the synergy of government, the capacity of government officials and the competence of village assistants as social capital, which have a positive effect on the success of village financial management, so that it becomes the focus of the village government in implementing public services and controlling government performance, both financial and non-financial.

• 한국산학기술학회논문지
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• 제12권6호
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• pp.2575-2587
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• 2011

초기의 금융정보기술은 독자적인 시스템을 개발 도입하는데 높은 비용을 투자하였다. 오늘날의 금융정보기술 도입은 내부 효율성제고와 경비 절감에 있으나 장기적 전력차원을 고려 기업의 경쟁우의를 확보하는데 활용한다. 정보시스템 품질과 성과측면에 활발한 연구가 진행되고 있으나, 최근에는 정보시스템을 사용하는 사용자 측면도 중요한 사항으로 대두되고 있다. 기존연구에서는 정보시스템 품질이 성과에 미치는 영향 관계 연구와 흡수역량이 성과에 미치는 영향 관계연구만 살펴보고 있다. 즉, 정보시스템 품질과 흡수역량을 독립변수의 위치에서 각각 경영성과에 유의한 영향을 미치는 요인으로 연구되어지고 있는 것이다. 반면 이 두 변수간의 관련성에 대한 연구는 부족한 실정이다. 본 연구에서는 금융정보시스템 품질과 흡수역량을 각각 독립변수와 매개변수로 금융성과에 미치는 매개효과를 연구해 보았다. 연구결과 금융정보시스템 품질은 기업성과에 긍정적인 영향을 미치는 것으로 나타났으며, 흡수역량은 완전매개 역할을 하는 것으로 나타났다. 그러나 흡수역량이 독립변수로써 금융성과에 긍정적인 영향을 미치고 있으나, 금융정보시스템 품질을 매개변수로 하여서는 영향을 미치지 않는 것으로 나타났다.

• 분석과 대안
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• 제4권1호
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• pp.5-37
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• 2020

In the 2000s, financial exclusion of low-income people emerged as a major social problem in South Korea. Microcredit business was first introduced by NGOs to help the poor overcome poverty while the Korean government soon chose to initiate microcredit policies to assist financially marginalized low-income people as a key policy measure to alleviate social inequality and revitalize economy. Unlike the initial expectation that state intervention in microcredit industry would be more effective, the outcome has been much less impressive. This paper aims to examine the poor performance of state-led microcredit in South Korea during the period of Lee Myung-bak administration by employing the concepts of state autonomy and capacity. It finds that the state autonomy, a key characteristic of a developmental state, was high in the sense that the funds had been raised in the face of strong resistance from private financial institutions. Lack of state capacity such as low technocratic expertise and politicization of microcredit policy, however, turned out to be a major stumbling block to the state-led microcredit in South Korea. This study shows that although the Korean government still has strong willingness to intervene in the financial market even in the face of interest groups' opposition, the eventual success of state action largely depends on its capacity to effectively implement financial policies.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.93-104
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• 2021

In recent years, there has been a substantial theoretical and empirical study on the role that financial market development has significantly played in promoting economic growth and development in the world. The development of an economy requires the financial industry to be developed. In the context of rapid economic development, global warming has become a serious problem with issues such as rising average temperatures, climate change, rising sea level, and increasing carbon dioxide emissions. This study aims to examine the influence of economic growth, financial development, transportation capacity, and environmental degradation. Using time-series data from 1986 to 2019 and environmental degradation being measured by CO2 emissions, the study employs a quantity of ample unit root tests, the structural break unit root tests, Autoregressive Distributed Lag (ARDL), and cointegration bounds test. The results show that there is a significant long-term cointegration among study variables. Empirical findings also indicate that an increase in per capita GDP and financial development worsens environmental quality whereas transportation capacity and foreign investment can improve environmental quality.

• 산업융합연구
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• 제22권1호
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• pp.1-20
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• 2024

정부지원과 기업 경영성과 간 관계에서 기업 고유의 특성과 공간적 특성의 중요성을 강조하는 많은 논의들이 있지만, 기업 특성과 클러스터 특성이 통합적으로 경영성과에 미치는 영향에 대한 실증연구는 부족한 실정이다. 본 연구는 정부자금지원의 구체적인 투입에 따른 재무적, 비재무적 성과를 실증분석하고, 정부 자금지원과 기업 경영성과 간에 영향을 조절할 것으로 예측되는 기업 특성 및 클러스터 특성을 탐색하여, 개인 및 집단의 2수준 위계적 선형모형(HLM)으로 분석하였다. 데이터는 사업자등록번호 기준으로 기업 및 클러스터 수준으로 재정리하여 최종적으로 기업수 83,395개사 및 클러스터 641개의 패널데이터가 활용되었다. 연구 결과, 정부 자금지원은 기업의 매출액과 특허 모두에 정(+)의 효과를 주는 것으로 나타나, 정부 지원이 시장실패를 보완할 수 있는 유효한 수단이라는 것을 보여준다. 위계적 선형모형으로 분석한 결과, 정부 자금지원과 인적자본역량, 흡수역량, 클러스터 네트워크 밀도와 결합할 경우, 모두 매출액과 유의한 정(+)의 효과가 나타났다. 본 연구는 2수준 위계적 선형모형으로 분석하여, 기업 특성인 인적자본역량과 흡수역량, 클러스터 특성인 클러스터 네트워크 밀도가 조절효과로 정부 자금지원과 기업경영성과를 조절하는 역할을 수행함을 밝혀 이론적, 실무적 시사점을 제공한다.

• 무역학회지
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• 제45권5호
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• pp.303-324
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• 2020

The objective of this study is to verify the effect of the market orientation, CEO capacity, and environmental characteristics of overseas markets on the performance of overseas expansion among the success factors of domestic overseas expansion companies. For this purpose, employees of domestic overseas companies based in the Seoul metropolitan area were surveyed, and the hypothesis test was conducted. As a result of the verification, among the contributors to overseas advancement of domestic overseas companies, the factors of CEO capacity, overseas business_education ability, market environment and market size have a significant positive effect on the financial performance of overseas expansion. However, market-oriented factors were found to have no significant effect on the financial performance of overseas expansion. Among the contributors to overseas advancement of domestic overseas companies, the market-oriented factor, the customer-oriented factor, has a significant positive effect on the non-financial performance of overseas expansion. However, factors in CEO competency and environmental characteristics in overseas markets do not have a significant positive effect on the non-financial performance of overseas expansion.

• 벤처창업연구
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• 제17권4호
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• pp.143-161
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• 2022

정부는 기업지원을 통하여 기업의 성장을 지원하며, 기업지원 사업의 컨트롤 타워로 중소벤처기업부를 설립하는 등 정책 효율성을 높이는 정책을 추진하고 있다. 그러나 정부의 기업지원 사업의 효율성에 대한 의견은 분분하며, 본 연구에서는 정부 기업 지원 사업이 기업성과에 어떤 영향을 미치는지와 내부적 요인인 흡수역량 및 만족도가 기업성장에 어떤 영향을 미치는지 확인하고자 한다. 정부의 기업지원 사업 수혜기업을 대상으로 설문을 통하여 연구를 진행하였으며, 선행연구들이 정부의 기업지원사업 중 재무적 지원을 중심으로 연구했던 것에 반해 정부 지원 사업을 재무적 지원과 비재무적 지원으로 구분하여 정부 기업지원의 효과를 분석하였으며, 흡수역량 및 기업지원 만족도를 구분하여 분석하였다. 이를 통해 정부의 기업지원 사업에 흡수역량 및 기업지원 만족도의 매개효과에 따라 기업의 재무적 성과 및 비재무적 성과에 미치는 효과를 실증분석하였다. 그 결과 정부의 재무적 지원과 비재무적 지원 모두 재무적 성과와 비재무적 성과에 긍정적 영향을 미쳤으며, 흡수역량 및 기업지원 만족도 모두 재무적 성과 및 비재무적 성과 모두를 매개하는 것으로 확인하였으며, 정(+)의 영향을 미치는 것으로 분석되었다. 이와 같은 연구 결과를 바탕으로 기업의 흡수역량을 향상하기 위해서는 조직문화 및 장기적 시점에서 조직 구성원들이 지식을 공유하고 발전할 수 있도록 사업을 구성을 구성하고 운영하고, 기업지원 만족도의 경우 공급자와 수요자 네트워크 구축을 통하여 기업이 직면한 문제를 정의하고 해결방안을 제안하거나 추가적 지원을 통하여 기업의 성장을 지원하는 시스템을 만들고 운영하며 공급자와 수요자 피드백을 통한 운영효율 개선 및 효율성 극대화 전략을 추진하여 기업지원 사업의 효율성을 개선하는 데 의미가 있을 것으로 기대된다.