• The Research Journal of the Costume Culture
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• v.25 no.3
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• pp.359-374
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• 2017

The objective of this study was to compare business management indicators among textiles and fashion companies. Business management indicators of 356 textiles and fashion companies for the year 2015 were analyzed, using income statements showing their management results. The results were as follows. First, there were statistically significant differences between the operating income ratios of textiles and fashion companies for the term, but there were none when it came to net income ratio. Second, the differences between cost of goods sold, cost of finished goods sold, and cost of merchandise sold to sales ratios among textiles and fashion companies were all statistically significant. The cost of goods sold, cost of finished goods sold, and cost of merchandise sold to sales ratios were higher for fiber and thread companies, fabric companies, and dyeing and finishing companies than for clothing and fashion accessories companies. Third, there were statistically significant differences between the ratio of salaries and the ratio of advertising expenses among textiles and fashion companies. The salaries ratios and advertising expenses ratios for clothing companies were higher than those of fiber and yarn companies, fabric companies, and dyeing and finishing companies. This study is meaningful as it has identified the business characteristics of textiles and fashion companies using the management indicators of those companies, which have not been sufficiently explored by previous studies. It has also helped to improve understanding of the industrial structure of the upstream and midstream sectors of the textiles and fashion industries.

• Journal of Distribution Science
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• v.12 no.8
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• pp.113-121
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• 2014

Purpose - Recently, the number of corporations that practice environmental and social responsibility, besides engaging in traditional profit-seeking activities, has been growing steadily, as interest in Corporate Social Responsibility (CSR) is increasing. Recent research on CSR practices has identified the relationship between CSR activities and corporate value as one of the main issues in this respect. Considering that donations constitute a large proportion of a company's charitable activities, we considered the extent of donation expenses as a charitable activity in order to mitigate sample selection bias. Specifically, we analyzed the impact of donation expenses on firm value, while investigating if this impact varied in response to the level of corporate governance of firms. Research design, data, and methodology - We used non-financial firms listed on the Korean Stock Exchange, having their fiscal year end in December, and the sample period was 2006-2013. For the dependent variable, Tobin's q was used as the corporate value, and for the independent variable, donations were measured as the donation-expense-to-sales ratio. Corporate governance scores, as rated by the Korea Corporate Governance Service, were used to measure corporate governance levels because they consider the overall aspects of governance, including ownership structure, the board of directors, and the audit mechanism of individual companies. To examine the impact of donations on a company in relation to the level of corporate governance, we estimated regression models using the interaction terms of the governance dummy and donation variables. Then, we further estimated the regression models of two sub-samples that were classified according to the level of corporate governance. Similar to previous studies, the study uses variables that affect firm value, such as R&D expenditure, advertising expenses, EBITDA, debt-to-equity ratio, sales growth, company age, and company size as control variables. Results - The empirical results show that firm value significantly increased in response to an increase in donation expenses. Upon including the interaction terms of governance level dummy variables and donations, the coefficients of the interaction terms show significant positive values, while those of donation variables show significant negative values. In the strong governance sub-sample, the relationship between the donation expenses and corporate value was statistically positive (+) and significant. However, in the weak governance sub-sample, the relationship between the donation expenses and corporate value was statistically insignificant and negative (-). Conclusions - The empirical results suggest that donation expenses are significantly linked to an enhanced corporate value if firms have a good corporate governance structure. However, if the corporate governance structure is weak, the same relationship is not necessarily observed. The results of this study show that if a firm has high corporate governance, CSR practices enhance the company's reputation such that it has a positive (+) relationship with corporate value. If a firm has weak corporate governance, on the other hand, CSR practices are recognized as an agency cost and do not increase corporate value.

• Korean Journal of Construction Engineering and Management
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• v.4 no.4 s.16
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• pp.69-79
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• 2003

About 93$\%$ of domestic teal estate construction firms registered as the end of 2001 recorded net profits of only less than 500 million won(including firms in the red) for the term. As a result of having analyzed the ratios of sales costs and the structural ratios of sales costs for the past 10 years, it was found that there have been great changes in structural ratios of sales costs. Material costs and labor costs have gradually decreased, but outsourcing costs of processing have greatly increased. In order to find activity points which are fundamental to cost control, the methods of new activity based cost management have been pursued. The characteristics of real estate construction industry lie in the fact that contract prices (sales in) are fixed and amounts of profits differ depending on the use of costs. In order to create maximum profits from fixed contract prices, the new activity based cost management has been proposed. The control of operation budgets and management costs is designed to control their schedules and expenses in different respects. Operation budgets ate executed with specific activities and management costs are controlled as a form of material costs, labor costs, out sourcing costs and expenses which are details of expenditure. In order to execute them by using the methods of new activity based cost management, first of all, we have to analyze what activity drivers ale and how much added values such activities can create. It is considered as a method of cost management which is necessary far the survival management of real estate construction industry.

• Journal of Nutrition and Health
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• v.36 no.10
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• pp.1083-1093
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• 2003

Efficient financial management is a critical factor in achieving school foodservice goals. The objective of this study was to suggest efficient financial management practices in secondary school foodservices. In pursuit of this objective, we first identified performance indexes for measuring the success of financial management. Second, we suggested financial management standards, financial data classification methods and a report system. Last, we analyzed operating ratios with the financial data of self-operated and contract-managed school food services. The data were collected through an open-ended questionnaire from 10 middle/high school foodservices in Seoul and Kyeonggi Provincial during on-sites visits and interviews with dieticians and managers. Student participation, sales goals, re-contract frequency and number and cost of disaster loss were identified as the performance indexes for financial management. Income statements were compiled by identifying and classifying financial data. Total revenues consisted of subsidies, meal sales, other revenue and interest. Expenditures consisted of purchased food, salaries and wages, utility costs, office supplies, kitchen supplies, purchased services, company overhead indirect costs, facility investment and maintenance, facility usage expenses, employee benefits and miscellaneous. Mean price of a meal was 2,326 won at self-operated foodservices when the subsidies were included as revenues and 2,360 won at contract-managed foodservices. When including the subsidies as revenues, the operating ratios of self-operated foodservice showed that the food cost percentage was 66.9％, labor cost 23.2％, operation cost 9.9％ and profit 0％. The correspond figures at contract-managed foodservices were 57.6％, 21.5％, 15.3％, and 5.5％, respectively. Food costs in self-operated foodservices was significantly higher than that for contract-managed foodservices, however, facility investment and maintenance and facility usage expenses at self-operated foodservices was significantly lower than those for contract-managed foodservices. Based on this study, the methodology and classification system of financial data was found to be applicable to assess the financial structure of school foodservices.

• Journal of Digital Convergence
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• v.19 no.5
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• pp.153-161
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• 2021

This study examined whether the probability of a tax investigation by the general construction industry could reduce the entertainment expenses in order to confirm whether a tax investigation can reduce excessive discretionary expenses of firms. Among the general construction industry listed on the KOSPI and KOSDAQ from 2011 to 2018, 274 firms with sales exceeding 10 billion won in the previous year were targeted at the tax audit selection rate and the tax audit detection rate, which is a proxy for the possibility of a tax investigation. The effect of the ratio of entertainment expenses to sales and the increase rate of entertainment expenses was verified. As a result of the analysis, both the selection rate and the detection rate of the tax investigation have a significant negative effect on the proxy variable of the discretionary expenses measured as the proportion of entertainment expenses and the increase rate of entertainment expenses. The results of this study showed that the tax investigation is a means to curb the excessive expenditure of the firm's discretionary expenses, thus suggesting the direction for the taxation policy and the effectiveness of the tax investigation.

• Culinary science and hospitality research
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• v.12 no.1 s.28
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• pp.188-202
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• 2006

With large corporations entering into the foodservice market, competitions among those foodservice providers became intense, leading to differentiated quality services in terms of portioning out the meal, its portion and waiting time, not to mention food quality. The purpose of providing foodservice is to satisfy its customers, to secure optimum level of profits, and attain continuous quality improvement. To have such purpose attained, all other factors affecting the foodservice should be allowed to play a role. The intensity of the work performed by the employees should be maintained at a steady level and systematically controlled. 'Service First’ principles upholding that customer satisfaction comes from good service should be applied at all times; customer satisfaction comes from the satisfaction of the employees. Customer satisfaction through good service will contribute to an increase in revenue which we get by subtracting operating expenses from the total sales, as it will lead to concluding a long-term supply contract or renewing the existing contract. To keep the operating expenses to the minimum level, it is important to effectively perform the cost control. Since personnel expenses occupy a large portion of the operating expenses, it is imperative to effectively control the labor costs. For this reason, this study will present an effective program for disposition of men with a large organization being centered around, where the number of people served at the mess hall varies greatly depending on a day of the week and a mealtime of the day.

• Journal of Distribution Science
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• v.12 no.4
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• pp.23-30
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• 2014

Purpose - The purpose of this study is to analyze the efficiency of retail businesses by dividing domestic retailers into discount stores, super supermarkets (SSMs), and department stores. It suggests retail-business investment strategies by using data environment analysis (DEA) to analyze how input elements such as store area, parking lot area, number of employees, and sales management expenses for the convenience of customers positively affect business performance measurements such as sales and visiting customers per day. Research Design, Data, and Methodology - The DEA model calculates a ratio of the weighted mean of various inputs to the weighted mean of various outputs and measures the efficiency of a specific decision making unit (DMU). The study included 19 companies (five discount store DMUs, ten SSM DMUs, and four department store DMUs). Because the business elements and sizes of retail store DMUs used in this analysis are different, average per-store input and output variables were used. Data were collected from "The Yearbook of Retail Industry in Korea (2012)." DEA analysis was used to determine differences in efficiency among discount stores, SSMs, and department stores in terms of the business elements of each retail business. It was also used to determine what business elements were excessively invested in by comparing and analyzing efficiency by business elements using SPSS software's ANOVA (Analysis of Variance). Results - The CCR and BCC efficiency analysis found that the efficiency of discount stores is low. We believe that the saturation state of discount stores is a major factor. The ANOVA analysis confirms the VRS hypothesis with a statistically significant difference among the three groups, based on an analysis confidence interval of 95%. CRS and SE were not found to be significantly different among the three groups. As for the post hoc test, which concretely shows differences by group, the Scheffe's multiple comparison analysis test found the average differences between group 1 (discount stores) and group 2 (SSM) to be statistically significant. Conclusions - The DEA efficiency analysis implies that investment in input elements, including store area, parking lot area, and sales management expenses, were excessive in the case of discount stores, while SSMs need to invest more in promotion activities such as gifts, events, and coupons for customer management. Department stores have found that small companies invest excessively in input elements. Department stores need to invest in differentiated shopping mall complexes. This study was limited in acquiring statistical data; various input variables which might have shown more secure customer management and promotional expenses could not be applied. As the study was limited in various aspects of the efficiency analyses because financial analyses of the companies and of causal relationships, including satisfaction and loyalty of visiting customers, were not done, these aspects will be examined in the next study.

• Journal of the Korean Data and Information Science Society
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• v.21 no.2
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• pp.327-333
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• 2010

This study examines the impact different proxies of agency costs have on companies under different governance approaches. The two specific proxies of agency costs used include: (i) the ratio of operating expenses to annual sales; and (ii) the ratio of annual sales to total assets. Our study is based on earlier works of Ang et al. (2000) and Fleming et al. (2005). A comparison of results for small unlisted companies both in US and Australia indicate that agency cost measures have statistically: (1) different result under rule-based governance mechanisms; and (2) the same results under principle-based governance mechanisms. Our findings support the view that the effectiveness different measures of agency cost is dependent on country specific governance facto as well as on the governance approaches adopted. Our results offer insights to both practitioners and policy makers regarding the usefulness of different proxies of agency costs when companies adopt principle-based corporate governance approaches versus rule-based approaches.

• The Journal of Economics, Marketing and Management
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• v.5 no.3
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• pp.12-20
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• 2017

The study examined effects of psychological change of distribution environment upon commercial areas to investigate consumers' experience and theory and to suggest power of new management strategy for growth of retailers A The study investigated actual conditions of business transaction of hyper market by blind interview. In April, 2016, the author visited 6 manufacturers to do depth interview. The questionnaire between food manufacturers and hyper market investigated the Association of Food Industries in Korea, NH Nonghyup and large manufacturers in July 2012. Questionnaires of 25 companies were used after excluding questionnaire having poor and inadequate answers. The sales commission with large scaled distribution business decreased (0.3 ~ 0.7) to increase additional expenses such as number of salesmen, interior expenses and economic costs (0.7 ~ 40%). (source: Fair Trade Commission). Fair Trade Commission released types and notice of unfair trade of large scaled retail business based on monopoly regulation and fair trade (hereinafter called 'notice of large scaled retail) to prevent large scaled distribution business from doing unfair trade. The notice controled unfair trade at different position between large scaled distribution business and small vendors.

• Culinary science and hospitality research
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• v.7 no.3
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• pp.13-34
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• 2001

The case which it contracts with the dynamic result measurement system when actual outsourcing evaluation measurement is composed and then one result standard between the service supplier and the user is set, which owns jointly the expense which is reduced from that or the benefit which is created from that is increasing In the conclusion, for outsourcing management strategy of domestic foodservice industry in order to succeed, first it is accurate and examined that for what and how outsourcing should be introduced and as a result, what kind of result can be raised from that result\ulcorner Food service industry should be outsourced if you want to make more many investment in better humane resources, food & beverage-goods-security and education to provide eating-out service out of various business in food industry. When considering the actuality of the domestic foodservice industry that time it is appropriate, it sees. The foreign-brand goods which is introduced in the country are being executing in the 1ink of part management strategy. One of the most influential factor of domestic foodservice industry's management pressure is overspent management expenses, Does the namely expenses preparation effect reach which degree\ulcorner what kind of method can most decrease these expenses\ulcorner Doing grows the success and failure of the Korean foodservice industry controls result with the fact that it will operate with a big variable sees. The background which the domestic foodservice industry should introduce inevitably the outsiurcing system is to develop continuously nation foodservice industry in the way of cost curtailment of food-material, a labor cost curtailment with efficient application and synergic effect like specialty manpower utilization. The kindred competitive enterprises gradually concentrate management resource to the point ability from the present point of view which is increasing and a strategy position they secure, to prepare a competitive power, what sees it is important national industry must prepare a new paradigm. It is important to measure the result based on sales accomplishment in operation system dimension, and it is more important to appropriately apply regard of the evaluation measurement