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A Study on Accounting for Nursing Cost by Korean Diagnosis Related Groups (K - DRGs) (종합병원(綜合病院)의 간호행위양상(看護行爲樣相)에 따른 간호원가(看護原價) 산정(算定)에 관(關)한 연구(硏究))

  • Oh, Hyo-Sook
    • Journal of Korean Public Health Nursing
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    • v.3 no.2
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    • pp.5-46
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    • 1989
  • The current medical payment Insurance Rates in Korea stipulate charges for medical treatment by the doctor, pharmaceutist, medical technician and maternity nurse. But unfortunately didn't specify those charges for nursing done by the professional nurse. Only basic nursing fee is accounted insufficiently in current medical insurance fee schedule. therefore, Being face with covering entire people by medical insurance by 1991, It seems that the problems pertaining to operating the hospital and medical insurance system would be incessantly expanded in that no mention is made of medical charges rendered by major medical producer service in the current system, For that reason, this study made an attempt to clarify the importance the professional nursing puts of the current medical payment. The purpose of this study was to accounting nursing fee which diveded into the current medical fee schedule. (Method) 1. Data collection; Importance and difficulties in nursing activities was conducted in 'S' National University Hospital. Total nursing activities were selected 72 items which included direct care and indirect care. This study was conducted to evaluating the degree of importance and difficulties according to nursing activities through questionnaire to 204 RN. and so relative difficulties (acuity) were computered because the nursing cost level of each nursing service was differently established by the equivalent coefficient according to degree of relative difficulty and time required. 2. Calculation of cost according to nursing activities; After 47 nursing activities were selected in General surgery nursing units, calculation of nursing cost was as follows Cost of Nursing activity = (relative difficulty X Average hourly wage and benefits of nurse) + material cost of nursing -t- Average nursing administration cost So, Calculated cost by nursing activities was compared to current non-insured and insurance rate. 3. Calculation of nursing cost by K - DRG ; Total of 578 patients who were hospitalized in General Surgery units from January to March 1988 ware classified by K - DRG After estimation of total nursing cost based on the K-DRG, verified the appropriateness of basic nursing fee in medical insurance rate (Results) 1. Analysis of degree of importance and difficulties were 4.16 and 3.67 based on 5 point scale. This score were judged that it is worthy specifying the nursing fee 2. The nursing cost of 47 nursing service items in general surgery patients showed that the average cost of nursing activity was \1374.5 and The lowest cost was \217 of 'oral administration nursing' item, The highest cost was \11,025 of 'saline enematill clear' item 3. The result of comparison between the calculated cost by nursing activities against the current non-insured and insurance rate showed that 13 items(27.7%) involved to payment of insurance rate, 9 items(19.1%) involved to non-insured rate, remainder 25 items (53.2%) were not charged anywhere of total 47 nursing activities 4. When calculated cost by nursing activities was 100. current insurance rate was 62.3, non-insured rate was 176.6. Therefore this showed that most of non-insured rate were higher than calculated nursing cost. The insurance rate, however, were lower than it. Reim-bursement was imputed to non-insured patients. So the current rate system became estrainged from cost system. When Remainder 25 items of nursing activities compared' to \1390 of daily basic nursing fee per patient belonged to payment as a insurance fee schedule, basic nursing fee schedule was 1-2% of calculated cost of nursing activities. Therefore it showed that nursing fee was not counted adequately in it. 5. Nursing cost by K-DRG estimated in chart review based on counting number of nursing activities and length of stay The result showed that average amount of total nursing cost was \183828.1 Comparison of nursing cost calculated by K- DRG and basic nursing fee schedule showed that only 12.3% of nursing cost was charged (Conclusion) From the above research result, It is fact that nursing prime cost should be estimated more accurately and included adequately in current medical payment system. The payment system of nursing activities should be introduced not only nursing activities of drug administration and injection fee belonged to insurance fee schedule but also most nursing activities belonged not to mekical fee schedule. Even if introducing payment system of nursing activities, It should be estimated scientific method of Accounting nursing cost So nurses could offer nursing care of good quality, thereby they could make a great contribution not merely to the convalescence of the patient but to the promotion of the people's health.

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Exploring the Theoretical Trends of an Integrated Environmental Design (통합적 환경설계 이론 기초 연구)

  • Ahn, Myung-June;Pae, Jeong-Hann
    • Journal of the Korean Institute of Landscape Architecture
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    • v.37 no.2
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    • pp.14-25
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    • 2009
  • We live in an age which is exponentially growing as the knowledge paradigm is changing. New sites are subject to contemporary landscape architecture function as "fields" in which this hybrid aspect is both actively practiced and becoming a catalyst for change in the area of landscape architecture. With this as its background, this study attempts to deal with how the aspect of integration in environmental design is manifested. For this purpose, the tendencies for the discussion of integration in various fields of practice were examined: planning theories, urban theories, architecture, public environment, engineering, and landscape architecture. As yet, the discussions of interdisciplinary integration, which occur in practice in these respective fields, mainly tend to be oriented toward the effective implementation of the merits of other related fields. Seen from these examples of practice, integrated design approaches can be found in the following three aspects: design objects, respective professional areas, and methodologies of approaches and design. In terms of design objects, the positions of individual design subjects present themselves as most obvious, and integration or combination of the physical targets that come to exist through design can be easily seen. Most examples of integration turn out to be this, in almost every case of which the theme and the target of expression are integrated via a small number of certain methods. In terms of professional areas, what can be mainly evidenced is how the individual subject acts when the subject designs. The strong points of professionals from each field seem to create synergy, achieving through integration optimum results. In terms of methodologies of approaches and design, there are attempts to create integrated approaches as ways of effective decision-making, in which case the integration of all of the interest parties is of primary concern. As yet, few instances have been found in which integrated design has had enough strength to be seen as a concrete design methodology based on practical examples. However, it is encouraging that theoretical approaches and the necessity for integrated design have been identified from multiple perspectives, and that a practical movement such as landscape urbanism has come into active being. The authors of this study find this point in time to be ripe for discussions on integrated practices in terms of environmental design, on the basis of the synthetic approaches mentioned above.

Development of an Eating Habit Checklist for Screening Elementary School Children at Risk of Inadequate Micronutrient Intake (초등학생의 미량영양소 섭취부족 위험 진단을 위한 간이 식습관평가표 개발)

  • Yon, Mi-Yong;Hyun, Tai-Sun
    • Journal of Nutrition and Health
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    • v.42 no.1
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    • pp.38-47
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    • 2009
  • The purpose of the study was to develop an eating habit checklist for screening elementary school children at risk of inadequate micronutrient intake. Eating habits, food intake, and anthropometric data were collected from 142 children (80 boys and 62 girls) in the $4^{th}$ to $6^{th}$ grades of elementary schools. Percentage of Recommended Intakes (RI) and Mean Adequacy Ratio (MAR) of six micronutrients; vitamin A, riboflavin, vitamin C, calcium, iron, zinc, and the number of nutrients the children consumed below EAR among the six nutrients were used as indices to detect the risk of inadequate micronutrient intake. Pearson correlation coefficients were calculated between eating habit scores and inadequate micronutrient intake indices in order to select questions included in the checklist. Meal frequency, enough time for breakfast, regularity of dinner, appetite, eating frequencies of Kimchi, milk, fruits and beans showed significant correlations with indices of inadequate micronutrient intake. Stepwise regression analysis was performed to give each item a different weight by prediction strength. To determine the cut-off point of the test score, sensitivity, specificity, and positive predictive values were calculated. The 8-item checklist with test results from 0 to 12 points was developed, and those with equal or higher than 6 points were diagnosed as high-risk group of inadequate micronutrient intake, and those with 4 or 5 points were diagnosed as moderate-risk group. Among our subjects 14.1% was diagnosed as high-risk group, and 30.3% as moderate-risk group. The proportions of the subjects who consumed below EAR of all micronutrients but vitamin C were highest in the high-risk group, and there were significant differences in the proportions of the subjects with intake below EAR of all micronutrients except vitamin B6 among the three groups. This checklist will provide a useful screening tool to identify children at risk of inadequate micronutrient intake.

Development of a Mobile Tower-yarder with Tractor (I) - Design and Manufacture - (트랙터부착형 타워집재기 개발(I) - 설계 및 제작-)

  • Park, Sang-Jun;Kim, Bo-Kyun
    • Journal of Korean Society of Forest Science
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    • v.97 no.1
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    • pp.61-70
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    • 2008
  • This study was conducted to develop a mobile tower-yarder with tractor for agriculture and forestry that is the efficient yarder in steep terrains, thinning operation and small scale logging operation. It was designed and manufactured that the power source of tower-yarder is equiped three hydraulic pump connected to PTO of tractor, and three hydraulic pump is used to operate the four motor for drum, the cylinder for clutch of interlocker, the cylinder for tower expanding and the out-rigger cylinder. It was to adopt the running skyline system and the inter-lock function, and to equip the double capstan drum, the storage drum and the clutch for interlock in the development of tower-yarder. It was to develop the tower-yarder which the winch torque of double-capstan drum, the traction force of double-capstan drum, the number of rotation of double-capstan drum and the line speed is $191kg{\cdot}m$, 1,910 kgf, 220.5 rpm and 138.5 m/min, respectively. And it was known that the optimum flange diameter of the main and haulback storage drum is about 360 mm and about 460 mm in order to storage the main line length of 250m and the haulback line length of 450 m. The carriage was made to adopt the running skyline system and to equip the lock function in order to the convenience of chocking and the fall down preventing of tree. It was provided to develop the wire remote controller for the inter-lock function, the convenience of control and the efficiency of yarding. In development process, this tower-yarder was attached the 3-point linkage hitch equipment and the tire wheel for the traction and moving of tower-yarder. Also, it was equipped that the out-rigger and the guy line in order to raise the safety and efficiency of yarding of tower-yarder.

Analysis of Honeybee-Keeping Management Types and Skills Level in Korea (양봉농가의 경영형태와 기술수준 분석)

  • Kim, An-Sig;Seok-Eun, Kim;Gye-Woong, Kim
    • Journal of Animal Science and Technology
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    • v.53 no.1
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    • pp.59-66
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    • 2011
  • For the improvement of productivity of beekeepers and to develop new management strategy through the analysis of current honeybee-keeping management types and evaluation of related skills and basis in Korea were surveyed. The serial surveys were carried out in 2008 for a total of 253 beekeepers from different localities in Korea. The results revealed that 145.9 colonies of honeybee were managed by each beekeeper in Korea. The beekeepers group who were younger than 55 years possessed 191.7 colonies. The older age group of beekeepers kept rather smaller number of colonies. The career groups over 15 years in apiculture were keeping 176.0 colonies in average. The numbers of bee colonies were not significantly different among localities and educational backgrounds. The migratory apiaries with 145.9 hives were dominant than those fixed ones with 83.0 (p<0.01). It was observed that 57.8% of apiaries were located in the vicinity of farmer's house, whereas 30.3% were managed in mountain area; however older group (65.4%) preferred to keep it near their houses (p<0.05). The proportion (35.7%) of part-time fixed apiary was the highest among four apiary management types. The younger group and high career group operated full-time migratory apiary (38.8% and 40.3%) (p<0.05), respectively. However, the older group and low career group preferred as part-time fixed one (43.2% and 46.6%), respectively (p<0.001). There was no significant difference among localities. The surveyed beekeepers produced propolis, commercial colonies, pollen, royal jelly, and pollination hives in addition to honey. The group of less than 15 years career and mountain apiary mainly produced propolis and pollen. However, those who dwell in small and middle areas mainly produced propolis and commercial colonies. The levels related to beekeeping skills and basis were evaluated as intermediate from 3.11 and 2.86 points on 5 points scale, respectively. More careered group having skill level of 3.33 point and basis level of 3.02 showed higher levels than less careered one. The levels of skill and basis evaluated from age groups and localities were similar with each other with no significance.

Flora of aquatic and wetland habitats on Jeju Island (제주도의 수생 및 습생 식물상)

  • Kang, Dae-Hyun;Yim, Eun-Young;Moon, Myung-Ok
    • Korean Journal of Plant Taxonomy
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    • v.45 no.1
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    • pp.96-107
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    • 2015
  • This study presents a comprehensive account of the flora of hydrophytes and hygrophytes on Jeju Island. This approach aims to contribute to fundamental information about the conservation of plant diversity in wetlands. Field surveys were carried out from May of 2010 to September of 2014 in various types of wetlands on Jeju Island. A total of 189 taxa, including 52 families, 98 genera, 181 species, 6 varieties, 2 forma and 189 taxa, were found. Among them, 99 taxa (38 families, 60 genera, 96 species and 3 varieties) were hydrophytes and 90 taxa (23 families, 45 genera, 85 species, 3 varieties and 2 forma) were hygrophytes. In addition, Eleocharis${\times}$yezoensis H. Hara (Cyperaceae) was newly added to the flora of Korea. The protected wild plants designated by the Ministry of the Environment were 5 taxa, including Brasenia schreberi J. F. Gmel. and Dysophylla yatabeana Makino. The endangered species found included one Critically Endangered Species (i.e., Mankyua chejuense B.-Y. Sun, M. H. Kim & C. H. Kim), 5 Endangered Species (e.g., Lysimachia leucantha Miq.) and 7 Vulnerable Species (e.g., Tillaea aquatica L.). The floristic regional indicator plants found in this area were 44 taxa comprising 10 taxa of grade V, 7 taxa grade IV, 15 taxa of grade III, 5 taxa of grade II, and 7 taxa of grade I. The identified naturalized plants were 10 taxa; 8 families, 8 genera, 9 species and 1 variety. In the wetlands on Jeju Island, high plant species diversity was shown, and a number of rare plants and phytogeographically important plants were found. For these reasons, we consider that the wetlands on Jeju Island are very important areas from a botanical point of view. It is necessary to establish specific protection and maintenance policies in an effort to conserve these wetlands and species.

Ecological Characteristics and Management Program for Buffer Greens at Sinhyeon-Eup, Geoje-Si (거제시 신현읍 완충녹지의 생태적 특성 및 관리방안)

  • SaGong, Young-Bo;Lee, Soo-Dong
    • Korean Journal of Environment and Ecology
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    • v.21 no.3
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    • pp.243-256
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    • 2007
  • The purpose of this paper is aimed at identifying the planting condition of greenbelt axis covering forests located at Sinhyeon-eup, Geoje-si and also establishing improvement plans for the ecological organization. The study was executed with buffer green space designed to mitigate noise, which is located at a halfway point linking Mt. Yukkyo(altitude of 50m) and Mt. Jungmae(altitude of 131m). The number of the biotope patterns was classified into 17 in total: the two are urbanized districts such as a townified district and streets and another 15 are greenbelts and open space such as forest biotope, inland water biotope, and landscaping tree plantations biotope. According to the analysis of biotope types, it was estimated that the making use of already established buffer greens as a linking medium with a foothold of Mt. Yukkyo and Jungmae, whose natural eco-system is well suited for habitation of living organism, is the one and only way to the influx of living organism into the downtown area. The green coverage rate of the base green area, sub-base green area and linkage green area was 160.29%, 128.37% and 44.37% respectively; the green capacity coefficient(i.e. GVZ[$Gr{\ddot{u}}nvolumezahl$]) for base green area, sub-base green area and linkage green area was $4.04m^3/m^2,\;3.95m^3/m^2\;and\;0.65m^3/m^2$ respectively. The base green area has constituted multi-layered vegetation structure and thus played a role as habitats for living organism and supply centre of species, whereas the sub-base green area has destroyed lower layer vegetation, and the linkage green area was in bad shape due to the lack of planting volume and damage of the shrub layer. Accordingly, this research paper intended to suggest detailed implementation plans for the improvement in landscape for city dwellers' use and relaxation; in other words, this paper focused on ecological build-up for the Influx of wild birds into the downtown area for the promotion of bio-diversity of species through the linkage of base green areas and the fostering of nature observing trails for citizens as well as the connecting of green areas through the build-up of roadside greens to make these green areas to be efficiently used as corridors for the influx of wild birds and bio-organism habitation and for citizens' using space.

A Study on Rail Vibration and Its Reduction Plan in Central Daejeon Area (대전 도심지역의 철도진동의 영향과 대책)

  • Ryu, Myoung-Ik;Suh, Man-Cheol;Lee, Won-Kook
    • Journal of the Korean Geophysical Society
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    • v.3 no.4
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    • pp.269-280
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    • 2000
  • Rail vibration in city zone is becoming a serious environmental problem. In order to make a reduction plan for rail vibration, the research was conducted in which many experiments to measure actual rail vibration along the railroad through the central Deajeon area. A digital vibration level meter was used to measure rail vibration. Vibration levels of Z-axis were measured at every second for the duration of the train passing. The measuring station was placed at every 5m for the distance of 55m. A total of 353 different sets of vibration level were obtained. The signals were processed to get $L_{10}$ value and analyzed in terms of distance, train velocity, and number of trains. As a result, it has been found that rail vibration exceed the allowable vibraton limit of 60 dB, at the point of 25 m far from the railroad center, which is regulated by the las of vibration and noise. Train velocity was found to affect a little for vibration level within the zone. It was also found that a trench installed along a railroad could reduce vibration level up to approximately 10 percent. A model test was conducted to investigate the influence of the location and size of trench, on the transfer of vibration. A heavy steel ball was used to generate vibrations. On the basis obtained from this study, it could be concluded that the application of distance-attenuation and the installment of a trench along railroad could be applied as a reduction plan for rail vibration. Because limitions might exist to depend on the effect of distance attenuation, trenchs excavated along a railroad might be suggested as the most efficient solution to reduce railroad vibration.

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A practical analysis approach to the functional requirements standards for electronic records management system (기록관리시스템 기능요건 표준의 실무적 해석)

  • Yim, Jin-Hee
    • The Korean Journal of Archival Studies
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    • no.18
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    • pp.139-178
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    • 2008
  • The functional requirements standards for electronic records management systems which have been published recently describe the specifications very precisely including not only core functions of records management but also the function of system management and optional modules. The fact that these functional requirements standards seem to be similar to each other in terms of the content of functions described in the standards is linked to the global standardization trends in the practical area of electronic records. In addition, these functional requirements standards which have been built upon with collaboration of archivists from many national archives, IT specialists, consultants and records management applications vendors result in not only obtaining high quality but also establishing the condition that the standards could be the certificate criteria easily. Though there might be a lot of different ways and approaches to benchmark the functional requirements standards developed from advanced electronic records management practice, this paper is showing the possibility and meaningful business cases of gaining useful practical ideas learned from imaging electronic records management practices related to the functional requirements standards. The business cases are explored central functions of records management and the intellectual control of the records such as classification scheme or disposal schedules. The first example is related to the classification scheme. Should the records classification be fixed at same number of level? Should a record item be filed only at the last node of classification scheme? The second example addresses a precise disposition schedule which is able to impose the event-driven chronological retention period to records and which could be operated using a inheritance concept between the parent nodes and child nodes in classification scheme. The third example shows the usage of the function which holds or freeze and release the records required to keep as evidence to comply with compliance like e-Discovery or the risk management of organizations under the premise that the records management should be the basis for the legal compliance. The last case shows some cases for bulk batch operation required if the records manager can use the ERMS as their useful tool. It is needed that the records managers are able to understand and interpret the specifications of functional requirements standards for ERMS in the practical view point, and to review the standards and extract required specifications for upgrading their own ERMS. The National Archives of Korea should provide various stakeholders with a sound basis for them to implement effective and efficient electronic records management practices through expanding the usage scope of the functional requirements standard for ERMS and making the common understanding about its implications.

The Relations between Financial Constraints and Dividend Smoothing of Innovative Small and Medium Sized Enterprises (혁신형 중소기업의 재무적 제약과 배당스무딩간의 관계)

  • Shin, Min-Shik;Kim, Soo-Eun
    • Korean small business review
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    • v.31 no.4
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    • pp.67-93
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    • 2009
  • The purpose of this paper is to explore the relations between financial constraints and dividend smoothing of innovative small and medium sized enterprises(SMEs) listed on Korea Securities Market and Kosdaq Market of Korea Exchange. The innovative SMEs is defined as the firms with high level of R&D intensity which is measured by (R&D investment/total sales) ratio, according to Chauvin and Hirschey (1993). The R&D investment plays an important role as the innovative driver that can increase the future growth opportunity and profitability of the firms. Therefore, the R&D investment have large, positive, and consistent influences on the market value of the firm. In this point of view, we expect that the innovative SMEs can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. And also, we expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Aivazian et al.(2006) exert that the financial unconstrained firms with the high accessibility to capital market can adjust dividend payment faster than the financial constrained firms. We collect the sample firms among the total SMEs listed on Korea Securities Market and Kosdaq Market of Korea Exchange during the periods from January 1999 to December 2007 from the KIS Value Library database. The total number of firm-year observations of the total sample firms throughout the entire period is 5,544, the number of firm-year observations of the dividend firms is 2,919, and the number of firm-year observations of the non-dividend firms is 2,625. About 53%(or 2,919) of these total 5,544 observations involve firms that make a dividend payment. The dividend firms are divided into two groups according to the R&D intensity, such as the innovative SMEs with larger than median of R&D intensity and the noninnovative SMEs with smaller than median of R&D intensity. The number of firm-year observations of the innovative SMEs is 1,506, and the number of firm-year observations of the noninnovative SMEs is 1,413. Furthermore, the innovative SMEs are divided into two groups according to level of financial constraints, such as the financial unconstrained firms and the financial constrained firms. The number of firm-year observations of the former is 894, and the number of firm-year observations of the latter is 612. Although all available firm-year observations of the dividend firms are collected, deletions are made in the case of financial industries such as banks, securities company, insurance company, and other financial services company, because their capital structure and business style are widely different from the general manufacturing firms. The stock repurchase was involved in dividend payment because Grullon and Michaely (2002) examined the substitution hypothesis between dividends and stock repurchases. However, our data structure is an unbalanced panel data since there is no requirement that the firm-year observations data are all available for each firms during the entire periods from January 1999 to December 2007 from the KIS Value Library database. We firstly estimate the classic Lintner(1956) dividend adjustment model, where the decision to smooth dividend or to adopt a residual dividend policy depends on financial constraints measured by market accessibility. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between current payout rato and target payout ratio each year. In the Lintner model, dependent variable is the current dividend per share(DPSt), and independent variables are the past dividend per share(DPSt-1) and the current earnings per share(EPSt). We hypothesized that firms adjust partially the gap between the current dividend per share(DPSt) and the target payout ratio(Ω) each year, when the past dividend per share(DPSt-1) deviate from the target payout ratio(Ω). We secondly estimate the expansion model that extend the Lintner model by including the determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory. In the expansion model, dependent variable is the current dividend per share(DPSt), explanatory variables are the past dividend per share(DPSt-1) and the current earnings per share(EPSt), and control variables are the current capital expenditure ratio(CEAt), the current leverage ratio(LEVt), the current operating return on assets(ROAt), the current business risk(RISKt), the current trading volume turnover ratio(TURNt), and the current dividend premium(DPREMt). In these control variables, CEAt, LEVt, and ROAt are the determinants suggested by the residual dividend theory and the agency theory, ROAt and RISKt are the determinants suggested by the dividend signaling theory, TURNt is the determinant suggested by the transactions cost theory, and DPREMt is the determinant suggested by the catering theory. Furthermore, we thirdly estimate the Lintner model and the expansion model by using the panel data of the financial unconstrained firms and the financial constrained firms, that are divided into two groups according to level of financial constraints. We expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, because the former can finance more easily the investment funds through the market accessibility than the latter. We analyzed descriptive statistics such as mean, standard deviation, and median to delete the outliers from the panel data, conducted one way analysis of variance to check up the industry-specfic effects, and conducted difference test of firms characteristic variables between innovative SMEs and noninnovative SMEs as well as difference test of firms characteristic variables between financial unconstrained firms and financial constrained firms. We also conducted the correlation analysis and the variance inflation factors analysis to detect any multicollinearity among the independent variables. Both of the correlation coefficients and the variance inflation factors are roughly low to the extent that may be ignored the multicollinearity among the independent variables. Furthermore, we estimate both of the Lintner model and the expansion model using the panel regression analysis. We firstly test the time-specific effects and the firm-specific effects may be involved in our panel data through the Lagrange multiplier test that was proposed by Breusch and Pagan(1980), and secondly conduct Hausman test to prove that fixed effect model is fitter with our panel data than the random effect model. The main results of this study can be summarized as follows. The determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory explain significantly the dividend policy of the innovative SMEs. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between the current payout ratio and the target payout ratio each year. In the core variables of Lintner model, the past dividend per share has more effects to dividend smoothing than the current earnings per share. These results suggest that the innovative SMEs maintain stable and long run dividend policy which sustains the past dividend per share level without corporate special reasons. The main results show that dividend adjustment speed of the innovative SMEs is faster than that of the noninnovative SMEs. This means that the innovative SMEs with high level of R&D intensity can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. The other main results show that dividend adjustment speed of the financial unconstrained SMEs is faster than that of the financial constrained SMEs. This means that the financial unconstrained firms with high accessibility to capital market can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Futhermore, the other additional results show that dividend adjustment speed of the innovative SMEs classified by the Small and Medium Business Administration is faster than that of the unclassified SMEs. They are linked with various financial policies and services such as credit guaranteed service, policy fund for SMEs, venture investment fund, insurance program, and so on. In conclusion, the past dividend per share and the current earnings per share suggested by the Lintner model explain mainly dividend adjustment speed of the innovative SMEs, and also the financial constraints explain partially. Therefore, if managers can properly understand of the relations between financial constraints and dividend smoothing of innovative SMEs, they can maintain stable and long run dividend policy of the innovative SMEs through dividend smoothing. These are encouraging results for Korea government, that is, the Small and Medium Business Administration as it has implemented many policies to commit to the innovative SMEs. This paper may have a few limitations because it may be only early study about the relations between financial constraints and dividend smoothing of the innovative SMEs. Specifically, this paper may not adequately capture all of the subtle features of the innovative SMEs and the financial unconstrained SMEs. Therefore, we think that it is necessary to expand sample firms and control variables, and use more elaborate analysis methods in the future studies.