• International Journal of Contents
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• v.5 no.1
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• pp.37-45
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• 2009

This paper empirically tests pecking order theory. Korean listed firms are used as the samples. On the whole we find supportive results for pecking order theory. The fixed effect model on the whole period shows that as pecking order theory suggests that debt ratio decreases as cash flow. ROA, physical assets, and firm size increase. Again, it is shown that corporate debt ratio significantly decreases as cash flow or ROA increases in every sub-sample, which coincides with the prediction of pecking order theory. Corporate debt ratio significantly decreases as physical assets or jinn size increases in case of the whole sample, pre-financial crisis period, and the sub-samples by q-ratio, which also supports the prediction of pecking order theory. Statistical significance of the coefficients of physical assets or firm size completely disappears after Korean financial crisis. Perhaps it is because the role of physical assets or firm size as a mitigator of information asymmetry significantly weakens after the financial crisis as Korean financial market becomes more transparent. For small firms only size variable is negatively and significantly related with debt to assets. It seems that size is an important factor for smaller firms in making financing decision.

• Journal of Families and Better Life
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• v.29 no.6
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• pp.137-151
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• 2011

This study examines the condition of transfers between mothers and adult children, analyzing the influencing factors in such transfers. Specifically the study examines the influence of financial transfers and economic resources on financial transfers and grandchild caregiving between mothers and adult children. The sample of 3719 mothers with adult children was extracted from the first wave of the Korean Longitudinal Survey of Women and Families. The major findings are as follows. Mothers's socio-demographic characteristics are important factors in explaining financial transfers between mothers and adult children. Mothers who have jobs and spouses are more likely to provide economic resource to their adult children than those who don't have. In terms of receiving economic resources from adult children, statistically meaningful factors are mothers' age, labor market participation, marital status, household income, household asset, and children's labor market participation. Especially, labor market participation of mothers and adult children is statistically powerful factor in financial transfers and caregiving.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.193-207
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• 2022

The purpose of this study was to find out what factors influence the preparation of financial statements in accordance with the International Financial Reporting Standards (IFRS) for Vietnamese businesses. The survey included 150 enterprises, including parent companies of state-owned economic groups, parent companies that are listed companies, large-scale public companies that are unlisted parent companies, and enterprises with 100 percent foreign direct investment, that will apply IFRS voluntarily from the year 2022 and switch to the mandatory application from the year 2025 (Ministry of Finance, 2016). The survey was carried out with the help of the Google Form tool, and the data was processed using EFA and regression analysis methods on the SPSS 22.0 software. The findings show, for enterprises in Vietnam, that six factors influence the preparation of financial statements in accordance with IFRS, ranked in order of influence from high to low: (i) Related party requirements; (ii) Professional qualifications of accountants; (iii) Roles of enterprise managers; (iv) Forms of capital ownership in enterprises, (v) Institutional regulations, and (vi) Operational characteristics of the enterprise. In addition, the study also shows that, for enterprises in Vietnam, the requirements of related parties are an important factor to promote the preparation of the financial statements of enterprises according to IFRS.

• Journal of the Korean Dietetic Association
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• v.2 no.2
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• pp.123-140
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• 1996

The purpose of this study was to examine financial management practices in elementary school foodservices. Respondents were asked to provide information on demographics, operational characteristics, financial management activities(responsibility, importance and time demand). Data were collected from 106 elementary school foodservice using the mail questionnaire. The results were as follows 1. Time demand of 14 financial management activities was examined. The results of time-demand showed that most financial activities were performed about once per month. Reporting, inventory checking and production cost accounting were performed several times per week. 2. Major financial management activities performed by school dietitians were inventory checking, record keeping, production cost accounting, and foodservice operation planning. 3. Results of the importance rating of 14 financial management activities showed that the production cost accounting, budgeting, controlling meal costs, reporting the national treasury accounts, and inventory checking were rated as very important(4.00-4.49). Factor analysis was conducted on the importance ratings. Five activities were differentiated such as budgeting, record keeping, cost controlling, cost accounting, and reporting. The cost controlling task was identified at the most important one among them. 4. Important ratings for reporting were found to be significantly different by age, and years of experience. The younger and the less experienced were responded with higher scores on reporting. Analysis of variance for the importance scales by meal costs per one person, food cost percentage, labor cost percentage was conducted, but significant differences were not founded.

• Journal of the Korea Safety Management & Science
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• v.14 no.3
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• pp.193-205
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• 2012

Since manufacturing and supplying corporations today come to view their practice of SCM as important, it becomes essential to analyze and control the structural relationship between the information sharing among corporations and the performances resulting from their practice of SCM. It is thus the purpose of this paper to examine the factors that may prompt corporations to implement SCM by means of analyses into the relationship between information sharing and practice of SCM which corporations should lay stress on as well as the relationship between financial and non-financial performances of corporations. The findings of the study can be summed up as follows: First, as for the relationship between information sharing among and practice of SCM by corporations, information sharing among corporations turned out to affect such factors of implementing their SCM as trust, commitment mutual dependence. Consequently, corporations are requested to endeavor to implement SCM itself faithfully if they really aim to achieve their performances by practice of SCM and, at the same time, to make efforts to obtain understanding and support for information sharing among themselves. Second, from the analysis of the relationship between SCM and financial as well as non-financial performances of corporations, it was found that trust, a factor of SCM practice, had influence upon non-financial performances of corporations, but not upon their financial performances, while commitment and mutual dependence affected both financial and non-financial achievements of corporations. Therefore, it was made clear from the analysis that the decision and systematic control of SCM activities which best suit to a corporation play an important role in improving its financial and non-financial performances, because they greatly depend on the implementing extent of SCM factors such as trust, commitment and mutual dependence among corporations.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.45 no.3
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• pp.90-103
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• 2022

The purpose of this study is first to understand whether technology innovation capability, which is considered an important factor in the Root companies, directly affects the business performance of the company. Second, it was attempted to determine whether internal resources deemed necessary for a company's continuous competitive advantage and excellent business performance play a mediating role in the technological innovation capability of the Root companies and the business performance. The implications of this study derived from the research results are as follows: Among the elements of technology innovation capability, R&D capability, positively affects both financial and non-financial performance. It was confirmed that the investment ratio could positively affect financial performance such as sales, market share, and yield, and non-financial performance such as corporate image, employee satisfaction, and productivity. Among the factors of technology innovation capability, the technology innovation system positively affects both financial and non-financial performance. Therefore, it can be said that securing rights to owned technology, establishing technology and funding, efficient use of resources, etc., affects financial performance such as sales or market share of a company, and affect the company's production capacity, image, and employee satisfaction. It has been verified that internal resources, including financial, physical, and human resources, can mediate between the three elements of technology innovation capability and corporate financial and non-financial performance.

• Korean Management Science Review
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• v.27 no.1
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• pp.45-60
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• 2010

This study evaluates life annuity plans based on two different types of measures : financial benefit and utility on consumption. The financial benefit is measured by Money's Worth (MW) ratio and return on annuity. For the measure of utility, an optimization problem is formulated with the objective of maximizing utility on consumption. To solve the optimization model, we use Dynamic Programming (DP) technique. The both types of measures are applied to cases of Korean pre-retirees at age 40 with different accumulation years of annuity (i.e. level of annuity asset at the age of retirement) and different timings of annuitization. Our results generally indicate that the utility based optimization model is superior to the financial measures in terms of providing a better evaluation of an annuity plan due to its capability to consider an individual's financial situation during his/her retirement period. Also, they suggest that the level of annuity asset is an important factor when an individual determines the optimal annuitization timing.

• Korean Management Science Review
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• v.21 no.2
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• pp.167-189
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• 2004

Cooperative and integrative partnerships between buyers and suppliers are very important for effective operations. Such partnerships should be based on various information technologies developed in recent years. Therefore, we investigated the relationship among IT performance, IT infrastructure and supply chain performance in buyer-supplier linkage using exploratory examination. This analysis is based on survey results of buyer-supplier practitioners in Korean electronics industry. Specifically, we used factor analysis, correlation analysis, and regression analysis. Major findings are as follows. First. buyers' IT performance contributed to enhance their operational & financial performance, and satisfaction. Second, buyers' IT infrastructure improved their financial performance and satisfaction but showed mixed effects on operational performance. Third, suppliers' operational performance enhanced buyers' operational & financial performance, and satisfaction. Fourth, suppliers' IT performance strengthened their operational & financial performance, and satisfaction. Fifth, suppliers' IT infrastructure showed positive relationships with operational performance and satisfaction.

• 사회경제평론
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• v.29 no.1
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• pp.119-154
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• 2016

Kalecki thought that monetary and financial factors play very important roles in the processes of investment decision and expenditure. He also acknowledged that interest rate is monetary phenomenon and investment finance is provided by banks prior to savings as Keynes did, and suggested that the more is the debt, the greater is the risk of debtor and lender. However, in developing investment theory he dismissed those monetary and financial factors or substituted into actual profit or savings, because he aimed to construct the investment theory to be able to explain the 'automatic mechanism of the fluctuation of capitalist economy'. Thus it is argued that Kalecki did not consider the monetary and financial factors in his investment theory. This paper aims to modify Kalecki's investment theory so that it incorporates the monetary and financial factors, such as the willingness of banking system to lend, interest rates, the ratio of leverage which had been dismissed by him. The Kaleckian investment theory that incorporates the monetary and financial factors in Kalecki's theory of investment allows us to explain not only an automatic and regular business cycle, but also irregular excessive investment and high leverage, consequent risk increase and financial crisis occurred in the economy with developed financial system.

• Journal of the East Asian Society of Dietary Life
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• v.15 no.4
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• pp.475-482
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• 2005

As Korea has approached the aging society, older Koreans have become an important force in restaurant sales today. To succeed with this silver market, it is important for restaurant managers to know who they are and which factor influence the older Koreans' eating-out decision making process. The purpose of this study was to investigate the effect of the elderly consumers financial independency on restaurant selection process. Data were collected from 178 older consumers above 55 years old and analyzed using the descriptive statistic analysis, MANOVA, and one-way ANOVA. The results showed that the elderly consumers financial independency significantly influenced the decision making process in determining where they eat out Significant differences were found between high income group and low income group in the Problem Recognition Step(Wilks' Lambda=0.776, F=3.796), Information Search Step(Wilks' Lambda=0.779, F=2.959), Alternative Evaluation Step (I :Wilks' Lambda=0.835, F=1.748/ II :Wilks' Lambda=0.764, F=3.212), and Purchase Decision Step(Wilks' Lambda=0.849, F=2.412), except the Post-Purchase Behavior(Wilks' Lambda=0.933, F=1.179). The more financially independent older consumers were, the more directly they were involved in the eating out decision making process. Older consumers with higher income and more personal property were likely to 'propose to eat out by themselves'(F=10.986), to obtain restaurant information from the 'printed materials'(F=9.707), to consider 'convenient location' as most important factor when they eat out(F=5.594), and to go to 'family restaurant'(F=7.067), 'Japanese restaurant'(F=7.391) and 'fine dining restaurants'(F-=6.382). In conclusion, we found that the elderly consumers financial independency did influence the eating-out decision making process. Considering that older Korean will become a financially independent consumer and will be eating away from home more often, food service operations should actively position themselves for this market and develop the market-driven menus and services to meet their needs and expectations.