• The Journal of Asian Finance, Economics and Business
• /
• 제7권12호
• /
• pp.783-793
• /
• 2020

This research investigates the explanatory factors governing the dividend payout to shareholders of blue-chip companies listed on Bursa Malaysia. In spite of continuous attention offered by empirical research on dividend payout of publicly-listed companies, paradoxically only few studies exclusively examined the explanatory factors from the perspective of blue-chip companies. Recognizing the capability of blue-chip companies to serve as a stalwart indicator of stock market condition as well as a consistent income source to shareholders, more research should be carried out for better inference on the companies' dividend payout decision. This research is using 522 observations from a sample of 18 Malaysian blue-chip companies over a 29-year period (1990 to 2019) and utilizes a panel data regression analysis for the estimation of the impact of eight factors, namely, systematic risk, leverage, free cash flow, lagged dividends, market-to-book value, profit growth, total asset turnover, and company size. Measuring dividend payout using two specifications (dividend/earnings and dividend/total assets), this research reveals that systematic risk and free cash flow have a significant and negative impact on dividend payout. Meanwhile, past year dividends, market-to-book value, profit growth, total asset turnover and company size have a significant and positive impact on dividend payout.

• 품질경영학회지
• /
• 제33권4호
• /
• pp.21-41
• /
• 2005

This study analyzes the Internet utilization pattern of customer by comprehensively investigating the previous studies on the behavior pattern of customer in terms of Internet business. Based on the analysis, this study develops research framework that supports strategic decision-making for resource allocation in Internet business. Such research framework would be helpful for providing the typology of Internet business model that can be specialized by each industry. As a result of the simulation analysis, it was found that the optimal resource allocation portfolio providing maximum profits to the Internet bookstore involves large-scale investment on delivery service and customer support service which are the key factors for post-purchase customer satisfaction, regardless of the growth pattern or size of Internet bookstore market. Consequently, from the above analysis, the investment ratio of resources for the profit maximization of Internet bookstore was drawn. Conclusively, based on the comprehensive examination of the results, this study provided a framework for dynamic resource allocation decision-making, and proposed a management strategy which allows consumers to shop under more favorable environment, and simultaneously enables the Internet bookstore to accomplish management objectives such as continuous growth and profit maximization.

• International Journal of Quality Innovation
• /
• 제9권2호
• /
• pp.11-30
• /
• 2008

The purpose of this study is to develop BSC model of social enterprise. Performance analysis tool of BSC have been brought over from the business world, designed and created from the perspectives of profit-based businesses. The BSC is a strategic performance measurement and management tool designed for the private sector acting as a communication/information and learning system, to measure 'where we are now' and 'where to aim for next'. It prescribes a plan for translating 'vision' and 'strategy' into concrete action across four perspectives at different stages, depending on the business. These perspectives are 'financial', 'customer', 'internal processes' and 'learning and growth', each of which is connected by cause-and-effect relationships that reflect the firm's strategy. Social aims of social enterprise are to accomplish desired outcomes which are to employ vulnerable people and to provide social services. The measurement factors of financial perspective are stable funding, efficiency of budgeting, stakeholders' financial supports, and trade profit. The measurement factors of customer perspective are government, social service users, employees, local communities, sup plier, social activity company, and partnership with external organizations. The measurement factors of internal process perspective are organizational culture, organizational structure/management, internal/external communication, quality of products and services, information sharing. The measurement factors of learning and growth perspective are training and development, management participation, knowledge sharing, leadership of CEO and manager, and learning culture.

• 아태비즈니스연구
• /
• 제11권2호
• /
• pp.27-43
• /
• 2020

Purpose - This study explores the impact of the real estate industry on related industries for the perspective of Chinese steel companies. Design/methodology/approach - The impact of housing prices on the 41 listed steel companies' performance was analyzed by using the panel data model. We used two kinds of housing price indexes that are set in the panel data models to estimate the range of the real estate market, driving the performance growth of steel listed companies. Moreover, the net profit of steel companies is used as the dependent variable. To test the stability of the model, ROA used as a dependent variable for the robustness test. Also, to avoid the time trend of housing prices, this paper selects the growth rate of housing prices as the primary research variable. After Fisher-type testings, there is no unit root problem in both independent and dependent variables. Findings - The results indicated that the rise in the housing price has a positive influence on the steel company performance. When the housing price increases by 1%, the net profit of steel enterprises will increase by 5 to 20 million yuan. Research implications or Originality - In this paper, empirical data at the micro-level and panel model are used to quantify China's real estate industry's driving effect on the iron and steel industry, providing evidence from the microdata level. It helps us to understand further the status and role of China's real estate industry in the economic structure.

• 국제학술발표논문집
• /
• The 6th International Conference on Construction Engineering and Project Management
• /
• pp.736-737
• /
• 2015

In these days, international construction market including construction companies has much grown due to globalization and economic boom in the mid 2000's. The size of international construction market, measured with overseas revenue of 225 construction firms, has expanded 2.7 times from 2003 to 2008 according to the ENR. However, after the global financial crisis of 2008 it has faced condition of low growth. In this research, major changes of international construction market and top contractors have been studied. In this study, changes of international construction market have been analyzed in the aspect of region and product including general buildings, transportation, petroleum, etc. Then, in order to find the changes of top contractors which obtained good accomplishment, business performance of companies have been examined by the compound annual growth rate, profit margin and international revenue by comparing the data before 2008 and after. The purpose of the study is to understand major changes of international construction market. Also, strategy changes of top contractors against market stagnation, profit depreciation, high competition have been inferred through the study. The result of the study would contribute to analyzing the strategies of construction companies in international market.

• 경영과정보연구
• /
• 제38권4호
• /
• pp.25-39
• /
• 2019

본 연구는 의료기관의 회계정보공시 자료 즉, 재무상태표와 손익계산서를 활용하여 의료기관의 재무비율을 통한 안정성비율, 수익성비율, 성장성비율, 활동성비율을 분석함으로서 병원의 수익성지표에 영향을 미치는 요인과 재무비율 특성을 분석하고자 하였다. 주요 목표는 의료기관의 회계정보공시 자료의 2016년과 2017년도 재무제표를 분석하며 의료기관의 설립형태 및 종별, 규모별의 일반적 특성 및 재무비율의 평균 차이 분석을 실시, 재무지표에 대한 평균값을 통해 의료기관의 재무적 특성을 파악하였다. 재무비율을 통한 안정성비율, 수익성비율, 성장성비율, 활동성비율의 평균 비교 분석 및 재무적 특성을 파악하였다. 또한 개정된 의료회계기준규칙에 의한 의료기관의 회계정보공시 자료를 활용하여 의료기관의 의료수익의료이익률, 총자산의료이익률, 의료수익순이익률, 총자산순이익률에 대해 회귀분석을 하였다. 주요결과를 보면 회계정보공시 자료에는 첫째, 재무상태표 통한 총자산, 총부채, 자본총계의 변화를 통한 병원의 규모 및 부채의 규모는 증가 추세이며 자본총계의 규모가 상대적으로 감소되었으며 또한 경영성과가 악화되는 경향을 보이고 있다. 둘째, 손익계산서에서 평균 의료수익의 증가는 미비한 편이며, 평균 당기순이익은 감소하는 편이다. 이에 의료기관은 의료 활동을 통한 이익 창출의 어려움을 확인할 수 있었다. 또한 의료기관의 종별에 따라 상급종합병원과 종합병원의 부채비율, 안정성비율, 수익성 비율의 차이가 컸으며, 설립형태에 따라서 국공립병원, 학교법인병원, 의료법인·재단법인병원의 평균 재무비율의 차이를 확인할 수 있었다. 병원경영의 수익성지표에 미치는 영향을 파악하여 병원의 의료수익순이익률과 총자산순이익률의 경영 성과 개선을 위한 노력이 필요하다.

• 한국IT서비스학회지
• /
• 제11권3호
• /
• pp.89-101
• /
• 2012

The study investigated if IT investment in Korean financial markets for the past 18 years has grown following the s-curve pattern based on Nolan's growth model in order to find the correlation between IT investment and management performance in the financial industry. According to the research finding it can be said that the overall financial markets maintain s-curve pattern, and IT investment is related to management performance, particularly increase in total assets and net profit. However, each sector has defining features of growth patterns. The banking industry has grown similarly to the s-curve, and the insurance industry also shows the s-curve but it looks more like linear pattern. In terms of securities industry, its growth patterns can hardly be considered s-curve due to the irregular changes. his research outcome illustrates the analysis of IT growth patterns in the financial industry and thus, it is expected to be a useful reference when deciding the appropriate time for IT investment in the financial industry.

• 한국조리학회지
• /
• 제14권4호
• /
• pp.93-105
• /
• 2008

This study was attempted to analyze causal relations among flexibility, growth, and profitability variables, which are the financial indexes of restaurant enterprises. The samples were 24 restaurant enterprises in total, and 102 financial statements between 2002 and 2006 were analyzed. As a result of the analysis, total asset growth rate influenced all profitability variables among growth variables. Also, the net sales growth influenced return on sales and return on assets, and the assets turnover influenced return on assets and return on equity. Among flexibility variables, current ratio and interest coverage ratio to operating profit influenced return on assets, and return on equity was influenced by current ratio and debt-to-equity ratio.

• 무역학회지
• /
• 제48권3호
• /
• pp.43-68
• /
• 2023

본 연구는 정부 「판로지원법」에 적용된 "제3장 기술개발제품 우선구매 지원" 즉, 우선구매 대상 기술개발제품이 공공 조달시장에 진출한 중소기업에 어떤 영향을 미치는지에 대한 가설을 설정하여 실증분석을 하였다. 대상은 우선구매 대상 기술개발제품을 취득한 기업으로 2019년 기술개발제품 취득 전·후 비교와 2017년부터 2021년까지 공개데이터, 조달실적통계자료, 재무 현황 자료 등을 수집하여 분석 자료를 토대로 결과를 얻고자 하였다. 분석 도구는 STATA 15를 이용하여 225개 기업은 T 검정을 진행하고, 371개 기업은 패널회귀모형을 적용하여 합동 OLS, 고정효과모형(FEM), 랜덤효과모형(REM)을 통해 가설에 대한 실증 검정을 진행하였다. 실증 검정 분석을 위해 먼저 우선구매 대상 기술개발제품 인증을 취득한 225개 기업에 대해 2019년 인증취득 이전과 2019년 인증취득 이후의 데이터를 비교하기 위해 전·후의 총자산, 매출액, 영업이익, 당기순이익의 자료를 수집하였고, 수집된 자료를 기반으로 t 검정을 통해 증감에 대한 비교를 분석하였다. 아울러 2016년 우선구매 대상 기술개발제품 인증을 취득한 371개 기업을 대상으로 취득한 인증의 종류와 인증의 개수, 인증 유효기간의 패널 자료를 수집하고, 2017년부터 2021년까지 5년간 해당 기업의 총자산, 인증매출액, 영업이익, 당기순이익의 자료를 수집하여 패널회귀분석을 진행하여 가설에 대해 검정하였다. 검정 결과 우선구매 대상 기술개발제품 인증을 취득한 기업은 두 번째 가설 인증취득개수가 늘어나고 세 번째 가설 인증 유효기간이 증가하면, 총자산, 인증 매출, 매출이익, 당기순이익이 모두 증가하는 유의한 결과로 채택되었다. 또한, 첫 번째 가설인 인증의 종류 중 성능인증+녹색인증을 취득하였을 때 총자산, 인증 매출, 영업이익이 증가하고, 혁신제품인증을 취득한 경우, 영업이익과 당기순이익이 증가하고, 성능인증+우수 조달을 취득하였을 때 총자산, 영업이익이 증가하고, 녹색인증 취득 시 영업이익이 증가하는 유의한 결과로 채택하였다. 이처럼 우선구매 대상 기술개발제품은 중소기업에 긍정적인 영향을 줄 수 있다는 것을 확인하였다.

• 한국정보시스템학회지:정보시스템연구
• /
• 제3권
• /
• pp.17-36
• /
• 1994

Since its first appearance in the late 1970s and early 1980s, executive information system (EIS) has been reported to improve executives' productivity in line with the rapid growth of the EIS market. In this paper, we aim to provide both researchers and practitioners with a comprehensive bibliography on EIS. this bibliography consists of papers which were extracted from (1) INSPECT commercial database service, (2) previous surveys in books and journals, and (3) major conference proceedings. A total of 227 papers, published between 1983 and 1992, were identified and categorized by topic, and journal or conference. The major findings indicate that EIS has been widely used in both profit oriented organizations and non-profit oriented organizations and that the nature of system has been the most active topic among the researchers and practitioners. However, the survey suggests that further research should be focused on development and implementation methodologies of EIS, especially requirement analysis and EIS planning.