• 제목/요약/키워드: Two-sample T-test

Search Result 581, Processing Time 0.028 seconds

Estimation of Attributes Affecting University Students to Select the Pizza Restaurant by Gender (성별에 따른 대학생의 피자전문점 선택에 영향을 미치는 속성 평가)

  • Kang, Jong-Heon;Jeong, In-Suk
    • Journal of the Korean Society of Food Culture
    • /
    • v.21 no.1
    • /
    • pp.57-64
    • /
    • 2006
  • The purpose of this study was to measure the pizza purchasing behavioral characteristics of respondents and importances of factors affecting pizza purchase, to estimate the effects of attributes on pizza restaurant choice, and to predict probability of selecting a particular pizza restaurant. The questionnaire consisted of two parts: The paired experimental profiles, purchasing behavior and importances of factors affecting pizza purchase. This study generated profiles of 16 hypothetical pizza restaurant based on the seven attributes. The profiles comprised 16 discrete sets of variables, each of which had two levels. For this study, researcher randomly selected 150 students of university as respondents. Twenty students did not complete the survey instrument, resulting in a final sample size of 129. All estimations were carried out using frequencies, $X^2$, independent samples t-test, phreg procedure of SAS package. The results are as follows. Some purchasing behavioral characteristics and importances of factors affecting pizza purchase were significantly different by gender. Based on the estimated models developed for male student group and female student group, the Chi-square statistics were significant at p<0.001. The parameter estimate for late delivery time with male student group was highest, and the parameter estimate for price with female student group was highest. The pizza restaurant that charged \20,000, offered 100% discount on eleventh pizza, promised to deliver pizza in 40 mins, usually delivered the pizza as promised time, offered only 1 type of pizza crust, delivered warm pizza, offered the money-back guarantee was favored by each of male student group and female student group. The results from this study suggested that there was an opportunity to increase market share and profit by improving operations so that customers receive discount and money-back guarantee simultaneously, and by reducing price, delivery time.

A Study on Self-Concept, Stress and Adaptation Beharior of Junior School Girls (일부 여자 중학생의 자아개념 및 스트레스와 적응행동에 관한 연구)

  • 노혜숙
    • Korean Journal of Health Education and Promotion
    • /
    • v.3 no.1
    • /
    • pp.43-55
    • /
    • 1985
  • The recent problems of adolescents are leading us to amphasize school mental health program. Therefore, for the first step of that program, this study was attempted to find out the students' daily life stress, their adaptation beharior to resolve that stress, and their self-concept which has an effect on that beharior, to analyze the relationship among those three variables, and to provide basic data which help maintain and promote students' adaptability and mental health. The subjects were 4 classes each grade, 743 students who were chosen as a sample subject among the total of 3,250 students of a junior girls' school in Seoul by stratified sampling method. The Oquestionnair surrey was done from April 1, 1985 to April 6, 1985. The instruments were (1) a part of Junghoon chois' perceptual Orientation Scale for measuring self-perception of students, (2) Rosenberg's Questionnair for measuring students' evaluation of self-esteem, (3) modified Bell's Adoptive Behavior Questionnair, and (4) the Measuring scale for stress developed by the investigator. The collected data were analyzed by using descriptive statistics, x²-test, t-test, ANOVA, and Pearsons' Correlation. The results are summarized as follows: 1. The range of mean score of self-concept, stress, and adaptation beharior is 1-5 respectively. The mean score of self concept was 3.45. The mean score of stress was 2.53, and the degree of stress was in order of the problem of study and grade marks, girl friend, appearance, and relaxation. The subjects preferred effective long-term adaptation method (Mean=2.81) to ineffective short-term adaptation method. (Mean=2.47) 2. The self-concept had the highest degree when students were 1st grade, in good health condition, taking high grade marks, both parents existing, fathers' educational level being above college, and being in high economic status. The degree of stress was significantly high when students were 3rd grade, in poor health condition, having low grade marks, being in poor economic status, and fathers' educational level being under elimentary school. In relation with adaptation method, 1st grade students used more sbort-term and long-term method, and when students had high grade marks, being in high economic status. they used more long-term adaptation behavior. 3. Two Hypotheses of this research were tested: Hypothesis 1. "The higher the students' self-concept is, the more they use long-term adaptation method." was accepted. (r=.2482, p<.01) (t=-4.99, p<.001) Hypothesis 2. "The higher the students' stress is, the more they use short-term adaptation method." was accepted. (r=.2897, p<.01) (t= -7.51, p<.001) In conclusion, a person in charge of school health can help students to adapt effectively by planning and implementing methods which highten their self-concept and lower their stress. But because the correlation among self-concept, stress and adaptation behavior was at a low level, I think that the study, which confirm the relationship of those three variables, is needed.

  • PDF

The Relationships Between The Hospital형s Organizational Pattern For Nursing, Organizational Characteristics Perceived By Nurses and Their Job Satisfaction (병원 간호조직의 구조유형에 따른 간호조직특성과 직무만족과의 관계)

  • 장정화;박성애
    • Journal of Korean Academy of Nursing
    • /
    • v.23 no.3
    • /
    • pp.397-416
    • /
    • 1993
  • This study identified the relationships between the hospital’s organizational pattern for nursing, the organizational characteristics perceived by nurses and their job satisfaction. The study subjects were a convenience sample of 383 staff nurses working at 10 general hospitals with more than 300 beds in Seoul. Hospitals included in the study were classified Into five organizational patterns, where nursing was organized as an independent but lower level, attached to the medical department, attached to a department supporting medicine, and various other organizational pattern. The data were collected from July 10 to August 15, 1992. The organizational characteristics as perceived by the staff nurses were measured by Park & Yoon’s Scale (1986) and job satisfaction was measured by Slavitt’s Scale (1978). The data were analyzed by percentage distribution, Pearson’s correlation, x$^2$-test, t-test, ANOVA, and ANCOVA The summarized results are as follows : 1. The proportion of independent and attached nursing organizational patterns was 35.1% and 54.9% respectively. 2. There were differences between four general characteristics of the nurses, age, experience, position and education level, and the five structural types of nursing organization(p〈.05). 3. 1) There were no relationship between the perceived organizational characteristics and general characteristics of the nurses but there was a differ once in job satisfaction according to education level of nurses in hopitals where nursing was an independent department(T=-2.24, p〈.05). 2) There were differences in the perceived organizational characteristics according to age group and experience of nurses (F=3.26, 5.41, p〈 , 05)and in job satisfaction according to the position of nurses in the independent but lower level organizational pattern (T=2.26, p〈.05). 3) There was a difference in the perceived organizational characteristics according to age group (F=3.19, p〈 .05) and in job satisfaction according to the experience of nurses where nursing was attached to the medical department (F=3.49, p〈.05). 4) There was a difference in the perceived organizational characteristics according to nursing unit (F=3.19, p〈 .05), but none between job satis-faction and general characteristics of nurses where nursing was attached to a departiment supporting medicine. 5) There were no relationships between the perceived organizational characteristics and job sat isfaction and general characteristics of nurses in the various other organizational patterns. 4. Nurses in hospitals where nursing is organizationed as an independent department perceived their organizatianal pattern more positively and had higher job satisfaction than nurses working in hospitals where nursing is part of another department. 5. There were differences between perceived organizational characteristics and job satisfaction according to the organizational patterns for nursing (F=13.52, 8.76, p=.0000). 6. There were correlations between the perceived organizational characteristics and job satisfaction of nurses working in two independent nursing departments (r=0.2180, 2351, p〈.05). In conclusion, the relationship between perceived organizational characteristics and job satisfaction was significantly correlated in the hospitals where the nursing department is independent. Perceived organizational characteristics and job satisfaction depended on whether the nursing department is independent from or attached to other departments in the hospital. For nurses job satisfaction the nursing department should be independent from other departments and at the highest level of organization in the hospital.

  • PDF

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
    • /
    • v.31 no.4
    • /
    • pp.67-93
    • /
    • 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.

The Effect of Climbing Learning Method on Mathematical Creativity and Attitude toward Mathematical Creativity (수학적 창의성과 태도 및 학업에 미치는 등산학습법의 적용과 효과)

  • Lee, Dong-Hee;Kim, Pan-Soo
    • Journal of Elementary Mathematics Education in Korea
    • /
    • v.14 no.1
    • /
    • pp.23-41
    • /
    • 2010
  • This research applies the climbing learning method that, a Japanese professor, Saito Noboru established and practiced, to fourth and sixth graders in an elementary school in order to analyze its effect on mathematical creativity, attitude toward mathematical creativity, so called CAS(Creative Attitude Scale) and academic achievement of the subject. The goal is to explore methods that can enhance students' mathematical creativity. To address these tasks, the research developed a teaching-learning scheme and learning structure chart that applies the climbing learning method. Next, the research organized two homogeneous groups among 124 students in fourth and sixth grades in S elementary school, located in the city of Busan. The experiment group went through classes that applied climbing learning method, while the control group received regular teaching. The following describes the research findings. After the experiment, the research conducted t-test for the independent sample based on the test result in terms of mathematical creativity, CAS and academic achievement of the subject. For mathematical creativity, all four constructing factor showed statistically significant differences at significance level of 5%. For CAS, statistically significant difference was revealed at significance level of 0.1%. However, in regard to a test of academic achievement for fourth and sixth graders, statistically significant difference was not detected at significance level of 5% even though the average score of the students in the experiment group was higher by 6 points. The research drew the following conclusion. Firstly, classes that apply climbing learning method can be more effective than regular classes in enhancing mathematical creativity of elementary school students. Secondly, the climbing learning method has positive impact on inclination for mathematical creativity of elementary school students. The research suggests that the climbing learning method can be an effective teaching-learning tool to improve students' mathematical creativity and inclination for mathematical creativity.

  • PDF

A Study on the Effects of Health Education and Self-Care Status on the Aged Diabetics (노인요당 양성자의 질병관리에 대한 교육 및 추후 관리 양상에 관한 연구)

  • Rhee Seon Ja;Kwon Yeon Hee
    • Journal of Korean Public Health Nursing
    • /
    • v.2 no.2
    • /
    • pp.99-116
    • /
    • 1988
  • This study examined the effect of Health Education on the aged. One of the Study objectives was to improve knowledge. attitude and self-care practice about diabetes of the aged who have responded positive in the urine sugar test. The other study objective was to find out factors influencing knowledge. attitude and self-care practice about diabetes. and the relationship among the three variables. The subjects, consisting of 45 positive responders in the urine sugar test, were selected from the elderly who attend elderly citizen center in southern part of Seoul Then they were divided into an experimental and a control group. The study design was set to compare the pre and post test data between the experimental and the control group with the measures of results from Health Education services including nursing care intervention programs on the aged diabetics. The first data collection was carried out in August. 1986 through questionaires and urine sugar testing. The second data collection was done in September, 1987 through the same methods. The results of the study are summarized as follows; 1. General characteristics of the subjects The experimental group has 9 females and 14 males and the control group has 12 females and 10 males. As for the educational level, more than half of the subjects in both group had completed at least 6 years of education. And there was no significant difference in urine sugar levels between the two groups. 2. The effect of Health Education on the extent of change in knowledge, attitude and self-care practice about diabetes was found to be significant. The first hypothesis that knowledge, attitude and self-care practice about diabetes in the aged will be unchanged by Health Education. was rejected by increased the three variables and decreased urine suger level in the experimental group. The second hypothesis that knowledge, attitude and self-care practice about diabetes wouldn't be concerned with each other, was rejected. That is. the three variables and urine sugar levels showed a significant positive relationship with each other but diabetic knowledge to urine sugar level had an insignificant positive relationship. The third hypothesis that the amount of learning Health Education will have no relationships with knowledge. attitude and self-care practice about diabetes. was rejected. That is, the more number of times an elderly person participated in Health Education. they increased their diabetic knowledge. attitude and self-care practice and decreased their urine sugar level. 3. Except for Health Education, an other factor influencing diabetic knowledge was educational level. And an other factor influencing the diabetic attitude was experience of the diagnosis of diabetes. 4. Except for Health Education. the other factors influencing self-care practice were experience of the diagnasis of diabetes, sex and experience of the hospitalization for diabetes. But factors influencing urine sugar level weren't found. Although the results seem to be plausible, this study is not without its problems. In paticular, the sample used is limited in its scope and size. So, more empirical work needs to be done for other diseases as well as diabetes before any general conclusions are to be made.

  • PDF

Comparison of Muscle Strength for Women with Osteoarthritis after 8-week Tai-Chi Exercise and Aquatic Exercise (수중운동과 타이치운동 후 여성 골관절염 환자의 근력변화)

  • Lee, Hea-Young;Lee, Eun-Ok;Song, Rha-Yun
    • Journal of muscle and joint health
    • /
    • v.12 no.2
    • /
    • pp.155-165
    • /
    • 2005
  • Arthritis is one of the most common chronic degenerative joint disease in elderly. Osteoarthritis is a widespread, slowly developing disease, with a high prevalence increasing with age in women. The large joints mostly involved by the disease are the knees. But there are no treatments available that cure the underlying process of osteoarthritis diseases. Physical exercise helps in increasing cartilage nutrition and remodeling, increases the synovial blood flow, decrease swelling, and improves muscle strength. Thus, exercise has been suggested as an important nursing strategy in osteoarthritis. Purpose: The purpose of this study were to compare muscle strength between Tai-Chi exercise and aquatic exercise for women with knee osteoarthritis. Methods: A quasi-experimental study with pretest and posttest measures was used. The study subjects were those who had been enrolled in a community health center, and agreed to participate in the study for eight weeks, signed the consent form, and obtained the physicians approval. The study dropout rates were 13.2% with the final study subjects of 17 on Tai-Chi exercise, 16 on aquatic exercise program. The collected data were analyzed using SPSS for Window (version 12.0). Independent sample t-test and paired t-test was performed to compare of muscle strength for women with osteoarthritis after 8-week Tai-Chi exercise and aquatic Exercise. Results: The homogeneity tests of demographic characteristics and study variables at the pretest data revealed no significant differences between two groups. After 8-week Tai-Chi and aquatic exercise, there was significant result in pre-post test comparison on muscle strength on Tai-Chi group, but no significant in aquatic group. There were no significant differences of knee extensor (p=.078), and hand grip(p=.118) in group comparisons on muscle strengths. But there were significant differences of knee flexor(p=.024). Conclusion: Tai-chi exercise was effective in improving knee flexor. So, it seems that Tai-chi exercise may be more suitable for aquatic exercise in osteoarthritis exercise programs. Further studies with other comparisons in physical and psycho social outcomes are necessary to confirm the more effects of exercise.

  • PDF

A Study on the Development of Experiential STEAM Program Based on Visual Impairment Using 3D Printer: Focusing on 'Sun' Concept (3D프린터 활용 체험형 STEAM 프로그램 개발 연구: '태양' 개념을 중심으로)

  • Kim, Sanggul;Kim, Hyoungbum;Kim, Yonggi
    • Journal of the Korean Society of Earth Science Education
    • /
    • v.15 no.1
    • /
    • pp.62-75
    • /
    • 2022
  • In this study, experiential STEAM program using 3D printer was produced focusing on the content elements of 'solar' in the 2015 revised science curriculum, and in order to find out the effectiveness of the STEAM program, analyzed creative problem solving, STEAM attitude, and STEAM satisfaction by applying it to two middle school 77 students simple random sampled. The results of this study are as follows. First, a solar tactile model was produced using a 3D printer, and a program was developed to enable students to actively learn experience-oriented activities through visual impairment experiences. Second, in the response sample t-test by the difference in pre- and post-score of STEAM attitude tests, significant statistical test results were shown in 'interest', 'consideration', 'self-concept', 'self-efficacy', and 'science and engineering career choice' sub-factors except 'consideration' and 'usefulness / value recognition' sub-factors (p<.05). Third,, the STEAM satisfaction test conducted after the application of the 3D printer-based STEAM program showed that the average value range of sub-factors were 3.66~3.97, which improved students' understanding and interest in science subjects through the 3D printer-based STEAM program.

Detection of Canine Lymphoma by the Amplification of Antigen Receptor Gene Rearrangements (재배열 항원 수용체 유전자 증폭을 통한 개 림프종의 진단)

  • Yu, Do-Hyeon;Li, Ying-Hua;Lee, Jong-Hyun;Noh, Dong-Ho;Song, Ru-Hui;Lee, Mi-Jin;Choi, Ul-Soo;Park, Jin-Ho
    • Journal of Veterinary Clinics
    • /
    • v.26 no.5
    • /
    • pp.419-422
    • /
    • 2009
  • We performed the PARR (PCR to detect antigen receptor rearrangements) test on DNA isolated from twelve archival canine cytological slides including nine lymphoma, two reactive lymphocytes and one sample from Ehrlichia canis infected dog. As a result, our PCR control gene, $C{\mu}$, was successfully amplified from all of the DNA samples. Six out of nine lymphoma samples showed a clonal rearrangement of immunoglobulin gene whereas three samples did a clonal rearrangement of T cell receptor gamma ($TCR{\gamma}$) gene. However, we observed no visible or clear bands from PCR conducted using our antigen receptor rearrangement primers on DNA from a reactive lymphoid cell proliferation used as a negative control. False-positive amplification in $TCR{\gamma}$ gene was observed only in one sample from E. canis infection. The use of archival cytological specimens demonstrated in this study offers potential advantages for cost-effective specimen acquisition and efficient high-fidelity DNA analysis.

Success and Failure Factors for Workout SMEs (워크아웃 중소기업의 성공과 실패 요인)

  • Lee, Byeong-Ho;Kim, Moon-Kyum;Kim, Soon-Choul
    • Korean small business review
    • /
    • v.42 no.2
    • /
    • pp.23-42
    • /
    • 2020
  • In this paper, it is analyzed that the financial factors of successful/unsuccessful companies in restructuring among Korean SMEs. For this purpose, the cases of 494 SMEs that had been subjected to workout programs due to financial distress between 2008-2014 were collected from A bank which is a SME financing bank, and had been subjected to logistic regression and t-test. And the sample cases are categorized into two groups, companies subject to external audit and the others, to provide more reliability. The result suggests; First, in all sample cases of SMEs, those are success factors for workout in connection with smaller total assets, lager sales amount, lower ratio of intangible assets, higher ratio of operating profit, lower ratio of short-term debt, higher ratio of long-term debt, and longer corporation history. Secondly, several factors have different influence on companies subject to external audit and the others. Lastly, the success factors for workout in Korean SMEs turned out to be different from those suggested in previous studies that are focused on large company. Some of the financial factors that led financially distressed firm to a successful restructuring showed the same results as large companies, but some of them were not related to them or even had the inverse influence on SMEs. This implies that SMEs have their distinctive success factors.