• The Journal of Asian Finance, Economics and Business
• /
• 제7권11호
• /
• pp.877-883
• /
• 2020

The purpose of the article is to evaluate the factors that affect the degree of environmental accounting information disclosure. Data are collected from 87 industry companies listed on the Vietnamese stock market from 2009 to 2019. I focus on the effect of factors such as the Firm size, Profitability, Leverage, Firm age, and Independent auditors. To explain the causal relationship between factors, I construct the regression model and then test it by using different statistical method approaches, including the pooled OLS, the fixed effects model, and the random effects model. Then I conduct testing of model defects: White Test, Wooldridge Test, Hausman Test, and Wald Test. The Feasible Generalized Least Squares (FGLS) method is used to analyze the image factors that affect environmental accounting information disclosure. The results show that the extent of environmental accounting information disclosure is influenced by factors: firm size, uptime and independent audit. These factors positively affect the level of environmental accounting information disclosure; independent audit has the greatest influence. Based on the research results, the author gives recommendations to improve the disclosure of environmental accounting information for industrial enterprises listed on the Vietnamese stock market, increasing the competitiveness of the public company in terms of global integration.

• 품질경영학회지
• /
• 제46권4호
• /
• pp.1015-1028
• /
• 2018

Purpose: This study attempts to find how the cultural marketing activities utilizing cultural space affect firm's brand image and brand loyalty, and whether this culture marketing technique is recognized as a social contribution activity by potential customers and thereby influence brand image and loyalty. Methods: The data was collected by using the structured questionnaires to consumers who have experience using the Naver Library, Starfield Library, and Hyundai Card Library. The proposed research model is tested using 178 valid questionnaires using Smart PLS 2.0. Results: This research indicated that among cultural marketing factors, cultural support and cultural promotion have little impact on brand image, whereas culture firm influence brand image. Brand image also had an impact on brand loyalty, but it was found that public libraries operated by companies were not recognized as corporate social contribution activities, nor did they have an impact on the formation of the company's brand image. Conclusions: The study offered a theoretical and empirical foundation for future research by empirically identifying the relationship between cultural marketing and brand image and loyalty and confirmed the coordinating effect of social contribution activities between a cultural firm and its brand image.

• 유통과학연구
• /
• 제20권12호
• /
• pp.99-108
• /
• 2022

Purpose: This study attempted to identify determinants affecting research collaboration and R&D distribution activities, especially regarding facility and equipment leasing of small and medium enterprises (SMEs) in South Korea. The objective of this study was to find the most significant firm characteristics that affect firms participating in an R&D collaboration and distribution program and investing in R&D in terms of leasing payment for equipment. Research design, data, and methodology: This study analyzes which SMEs' characteristics influence external research cooperation activities by examining the SMEs that received government support for equipment leasing using multiple regression analysis and residual plots. The survey combined two databases: 1) a fact-finding survey of participating firms by the Ministry of SMEs and Startups, and 2) leasing information by the Korea Association of University, Research Institute and Industry. Results: The study found that firm size positively impacts R&D investment, R&D collaboration and distribution. Conclusions: The study provided evidence to policymakers and government officials that firms with more employees will more likely participate in government support programs. The study results also prove that government officials believe firm location does not impact R&D investment, R&D collaboration and distribution.

• 기술혁신학회지
• /
• 제20권3호
• /
• pp.546-575
• /
• 2017

이 연구는 정부의 연구개발(R&D) 지원이 중견기업의 연구개발 투자에 미치는 영향을 살펴보았다. 이를 위해 중견기업 표본과 이에 대응되는 중소기업 표본을 대상으로 하여 패널 데이터를 수집하여 DID(difference-in-differences) 회귀분석 방법을 이용하여 정부 지원의 효과를 분석하였다. 본 연구의 결과에 따르면, 정부의 연구개발 지원은 중견 중소기업의 연구개발 순투자를 전반적으로 증가시켰다. 중견기업과 중소기업을 비교해 보면, 정부의 연구개발 지원이 기업 연구개발 투자를 촉진하는 효과는 중소기업에 비해 중견기업에서 더 크게 나타났으며, 중소기업에서는 유의한 영향을 미치지 못하였다. 또한 규모에 따라서 중견기업을 구분해 보면, 상대적으로 규모가 작은 초기 중견기업 표본에서 정부지원이 기업 연구개발 투자를 촉진하는 효과가 더 크고 유의하였다. 기술역량에 따라서 중견기업을 구분해 보면, 상대적으로 기술역량이 우수한 기업 표본에서 정부연구개발사업 참여에 따른 보조금이 기업 연구개발 투자를 촉진하는 효과가 더 강하게 나타난 반면 기술역량이 낮은 기업 표본에서 조세 지원이 기업 연구개발 투자를 촉진하는 효과가 더 강하게 나타났다. 연구의 결과는 중견기업의 혁신을 지속적으로 촉진하기 위한 정부의 연구개발 정책 및 관련 지원 사업이 필요하며, 중견기업의 기업규모, 기술역량, 성장잠재력을 감안하여 정책을 신중하게 수립하고 실행해야 함을 시사한다.

• KDI Journal of Economic Policy
• /
• 제12권2호
• /
• pp.95-120
• /
• 1990

비상장기업(非上場企業)이 최초로 주식시장(株式市場)에 발행하는 신주(新株)가 실제가치에 비해 낮은 가격(價格)에 상장(上場)되는 신주(新株)의 저평가현상(低評價現象)이 번번히 일어나고 있으나 아직 그 원인(原因)이 명확히 밝혀지고 있지 않다. 또한 신주발행(新株發行)을 통한 자본조달(資本調達)의 효율성(效率性)에 관한 기존(旣存)의 연구도 전무(前無)하다. 본고(本稿)에서는 기업(企業)의 수익성(收益性)에 관하여 기업주(企業主)의 우월(優越)한 정보(情報)를 가정한 신호경기적(信號競技的) 모델의 분석(分析)을 통하여 신주(新株)의 저가상장(低價上場) 원인(原因)을 밝혀내고 아울러 신주발행(新株發行)을 통한 자본조달(資本調達)의 효율성(效率性)을 검토해 보았다. 모델의 분리균형(分離均衡)의 분석(分析)을 통해 밝혀진 주요 결과는 다음과 같다. 고수익성(高收益性)프로젝트를 가진 기업주(企業主)는 프로젝트가 저수익성(低收益性)인 경우에는 선택할 유인(誘因)이 없는 발행조건 중 자신에게 가장 유리한 조건을 선택함으로써 투자자들에게 기업이 고수익성(高收益性)임을 입증(立證)하고자 하며 이 과정에서 선택된 고수익성기업(高收益性企業)의 발행조건의 성격은 다음과 같다. 첫째, 넓은 범위와 모수(母數)값에 대해 신주가격(新株價格)은 판매대금(販賣代金)이 기업(企業)에 유입(流入)된 이후 1주(株)에 해당하는 기업(企業)의 가치에 미달한다. 둘째, 기업(企業)에 유입(流入)되는 자본(資本)은 프로젝트로부터의 잠재적(潛在的) 이윤(利潤)을 극대화(極大化)하는 액수에 미달한다. 따라서 신주(新株)의 저가상장(低價上場)은 고수익성기업주(高收益性企業主)의 신호행위(信號行爲)의 결과이며 또한 신주(新株)의 저가상장(低價上場)은 저투자(低投資)를 의미한다.

• 한국항해항만학회지
• /
• 제44권5호
• /
• pp.400-406
• /
• 2020

In this study, we first measured the malmquist productivity index by DEA among the Korean public firms. Second, there are 12 public corporations whose productivity (MPI) has decreased compared to 2014. This is mainly because of a decrease in productivity, as well as a decrease in the technical efficiency change index (TECI), impacted by the internal environment, and the increase in productivity because of an increase in the technology change index (TCI) impacted by the external environment. Finally, the analysis of the impact on the management assessment scores showed that the productivity (MPI), scale efficiency (CRS), size of sales, operating profitability, and total capital investment efficiency are significantly related (+), except for the asset turnover, which is a static financial ratio. Meanwhile, the management evaluation scores between the high-productivity public corporations and low-performing public corporations were significantly discriminating. Thus, it is confirmed that the nation's state-run companies must manage their MPIs in a time series to score high in management evaluation.

• 자원ㆍ환경경제연구
• /
• 제11권3호
• /
• pp.465-491
• /
• 2002

Korea is one of the countries which have a remarkable record of high and sustained economic growth. However, as the national economy has continued to grow and the industrial structure has become increasingly advanced, the amount of wastes being generated has been rapidly on the rise. recycling wastes to cope with the environmental problems caused by wastes has become an increasingly important policy issue in developing countries such as Korea, as well as in developed countries. This situation demands that researchers provide policy-makers with available and responsible information regarding the effect of the recycling industry in the public sector. This study employs input-output (I-O) analysis to examine the effect of public sector recycling industry in the national economy, using a specific application to Korea. The paper, therefore, has two major goals. The first is the development of a static I-O framework for looking into the effect of public sector recycling industry in the short run. The second goal is obtaining at least a preliminary indication of the effect of the recycling industry- in public sector. Moreover, we discuss the role of a public firm that established with an objective of promoting and facilitating the reutilization of recyclable wastes. The overall results indicate that the recycling utilities may have a significant influence on the standard of living and industrial production.

• 재무관리연구
• /
• 제13권1호
• /
• pp.285-309
• /
• 1996

Using initial public offerings of 512 UK companies newly admitted to London Stock Exchange between 1985 and 1990, we explored the reason of underpricing of new issues. We particularly examined the underpricing of new issues in terms of signalling hypothesis. We found that there is a positive relationship between the value of the issuing firms and the fraction of equity retained by entrepreneurs. This finding is consistent with Leland and Pyle's model(1977) and the evidence of Downes and Heinkel(1982). We also found a positive association between the firm value and the degree of underpricing. In addition, our empirical evidence revealed that the underpricing of the UK IPOs is positively related to the fraction of equity retained by the original shareholders. Thus, our results support Grinblatt and Hwang's model(1989) which predicts a positive relationship between the value of firm and the degree of underpricing.

• Asia Marketing Journal
• /
• 제19권2호
• /
• pp.25-43
• /
• 2017

This paper addresses the central issue of whether it is effective for a firm to discourage the purchase of its own product in order to support a social cause. The objectives of this study were: a) to examine whether a cause-related self-prevention ad would stimulate more positive evaluations compared to promotional ad, particularly when the product category is more negatively socially accepted; and 2) to determine if a negative attitude toward the product could induce a boomerang effect of a selfprevention ad. Results from three experiments revealed that socially responsible prevention campaigns against firm's own product may be more effective for the product category negatively associated with social concerns or welfare. If products are more limited in the social context, communications of product prevention are beneficial to improve the public image of the brand. However, the self-hurting approach may be inappropriate for potential customers who currently possess a strong negative attitude toward the product.

• 융합경영연구
• /
• 제2권1호
• /
• pp.18-28
• /
• 2014

In this research we investigate the effect return on assets, return on equity, profit margin and earnings per share on working capital management. Current ratio and quick ratio used as proxies for working capital management. The research sample includes 451 year -firm of Tehran Stock Exchange (TSE) listed companies for period 2007-10. The multiple linear regressions were applied to test the research hypotheses. The results showed that, return on assets and earnings per share have a negative impact on working capital management. The results also show that earnings per share and profit margin positively associated with the firm performance.