• 한국항해항만학회지
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• 제48권2호
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• pp.109-115
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• 2024

To develop a shipping company insolvency prediction model, we sampled shipping companies that closed between 2005 and 2023. In addition, a closed company and a normal company with similar asset size were selected as a paired sample. For this study, data of a total of 82 companies, including 42 closed companies and 42 general companies, were obtained. These data were randomly divided into a training set (2/3 of data) and a testing set (1/3 of data). Training data were used to develop the model while test data were used to measure the accuracy of the model. In this study, a prediction model for Korean shipping insolvency was developed using financial ratio variables frequently used in previous studies. First, using the LASSO technique, main variables out of 24 independent variables were reduced to 9. Next, we set insolvent companies to 1 and normal companies to 0 and fitted logistic regression, LDA and QDA model. As a result, the accuracy of the prediction model was 82.14% for the QDA model, 78.57% for the logistic regression model, and 75.00% for the LDA model. In addition, variables 'Current ratio', 'Interest expenses to sales', 'Total assets turnover', and 'Operating income to sales' were analyzed as major variables affecting corporate insolvency.

• Journal of Information Technology Applications and Management
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• 제21권4_spc호
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• pp.345-359
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• 2014

Technological, policy and economic factors are both important variables in maximizing the results of a national R&D program and key indicators in evaluating an R&D program's eligibility for financial support. Economic analysis, in particular, is used when selecting R&D programs, setting priorities, and estimating economic effects. This paper examines a series of methodological issues related to the economic analysis of national R&D programs within the framework of the current preliminary feasibility evaluation system, and proposes alternative approaches to each of the issues discussed. The issues include the definition of R&D valuation and establishment of valuation factors; estimation of sales attributable to R&D investment; assessment of the total economic value of R&D as intellectual assets; estimation of R&D benefits and assumption of related to sales; and the application of discount rates based on the weighted average cost of capital. Finally, this study presents directions for future research on analytical procedures and methods of improving the reliability of the results of economic analysis within the national technology planning system.

• 보건행정학회지
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• 제13권2호
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• pp.101-124
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• 2003

Performance of public hospitals is difficult to define and measure because not only their managerial or financial performance but also their role as a public entity is important. The purpose of this paper is to examine the internal and external factors that influence the performance of local government hospitals. A multiple regression was performed to analyze the effects of the environmental, organizational, operational, and cost-related factors on the return on total assets(ROA), operating margin(OM), and the ratio of Medicaid patients. Empirical results show that financial performance (ROA and OM) are more influenced by operational or cost-related factors, while the ratio of Medicaid patients is more affected by environmental or organizational characteristics. It is noteworthy that competition and the contract with private sector management have negative effects on the ratio of Medicaid patients that local government hospitals treat.

• 한국관광식음료학회지:관광식음료경영연구
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• 제11권
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• pp.135-135
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• 2000

The financial performance over the twenty four-year period (1968-1991) was analyzed with respect to six performance measures : current ratio, net sales to working capital for liquidity, total liabilities to net worth for solvency, asset turnover for activity, return on assets for profitability, and cost of operations for operating. Interesting enough, small size hotel companies have enjoyed great profitability while relatively big hotel companies have fallen under the average. Further, after a certain level of firm size, the costs of operations increase, not decrease, as plant size increase. This results lead to a conclusion that getting bigger is not always good financial decision.

• 한국IT서비스학회지
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• 제11권3호
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• pp.89-101
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• 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.

• 아태비즈니스연구
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• 제3권1호
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• pp.29-38
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• 2012

This study aims at evaluating the impact of network formation variables and found to have positive impact on the economic performance and growth of the enterprises. The calucation of the weighted scores of networking statements brought some affirmative results to influence the performance of the enterprises. Through multiple regression and logistic regression models it is identified that network formation variables like service receiving status, consultation of the family, other business dummy and attendance in fair have some significant positive impact both on the growth and performance of the enterprises. In addition to above variables, from the set of enterprise characteristics natural logarithm of the market value of total assets and from the entrepreneurs' characteristics set of variables, schooling year and squared value of the experience have been found to have significant positive impact. Finally, it is concluded in the study that to enhance the performance and growth of the enterprises, government and policy rlated organizations need to consider important variables that have positive impact in supplying the entrepreneurial resources especially, developing the net-working relationship.

• 통상정보연구
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• 제10권2호
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• pp.349-369
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• 2008

The purpose of this study was to investigate the impact of the performance of small and medium companies located in Chungbuk according to their export ratio. First, there were significant the differences in those companies' performance depending on their export ratio. Such variables as operating incomes, current ratio, R&D, and the number of employees showed differences when those companies were divided into two groups whose export ratio were less than and more than 10%. Second, the impact of determinants which consisted of the size of total assets, R&D, advertisement, and export ratio on those companies' performance which consisted of profitability, stability, productivity, growth, liquidity, and activity was analyzed.

• 품질경영학회지
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• 제19권1호
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• pp.170-187
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• 1991

Investments in factory automation do not guarantee productivity enhancement. Much unknown losses may exist in all aspects of production resources such as in material, manpower, machine, etc. Total productivity in korean firms has decreased in recent years. Labor and capital productivity index fall to 0.82 point and 0.73 point, respectively. Investment in FA has Increased rapidly. Tangible fixed assets per capita increased 64% during the past Three years. But, this high-technology oriented systems such as NC, robotics, CAD/CAM, FMS, etc. are often out of keeping with the old production process control, and thus do not result in satisfactory performance. This review paper concerned with these problems and suggests some future directions for production control and development strategy of korean firm's.

• ETRI Journal
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• 제33권3호
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• pp.443-453
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• 2011

This paper evaluates the efficiency of mobile content firms through a hybrid approach combining data envelopment analysis (DEA) to analyze the relative efficiency and performance of firms and principal component analysis (PCA) to analyze data structures. We performed a DEA using the total amount of assets, operating costs, employees, and years in business as inputs, and revenue as output. We calculated fifteen combinations of DEA efficiency in the mobile content firms. We performed a PCA on the results of the fifteen DEA models, dividing the mobile content firms into those having either 'asset-oriented' or 'manpower and experience-oriented' efficiency. Discriminant analysis was used to validate the relationship between the efficiency models and mobile content types. This paper contributes toward the construction of a framework that combines the DEA and PCA approaches in mobile content firms for use in comprehensive measurements. Such a framework has the potential to present major factors of efficiency for sustainable management in mobile content firms and to aid in planning mobile content industry policies.

• Journal of the Korean Data and Information Science Society
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• 제21권2호
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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.