• Journal of the Korean Dietetic Association
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• v.2 no.2
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• pp.123-140
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• 1996

The purpose of this study was to examine financial management practices in elementary school foodservices. Respondents were asked to provide information on demographics, operational characteristics, financial management activities(responsibility, importance and time demand). Data were collected from 106 elementary school foodservice using the mail questionnaire. The results were as follows 1. Time demand of 14 financial management activities was examined. The results of time-demand showed that most financial activities were performed about once per month. Reporting, inventory checking and production cost accounting were performed several times per week. 2. Major financial management activities performed by school dietitians were inventory checking, record keeping, production cost accounting, and foodservice operation planning. 3. Results of the importance rating of 14 financial management activities showed that the production cost accounting, budgeting, controlling meal costs, reporting the national treasury accounts, and inventory checking were rated as very important(4.00-4.49). Factor analysis was conducted on the importance ratings. Five activities were differentiated such as budgeting, record keeping, cost controlling, cost accounting, and reporting. The cost controlling task was identified at the most important one among them. 4. Important ratings for reporting were found to be significantly different by age, and years of experience. The younger and the less experienced were responded with higher scores on reporting. Analysis of variance for the importance scales by meal costs per one person, food cost percentage, labor cost percentage was conducted, but significant differences were not founded.

• The Journal of the Korea Contents Association
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• v.14 no.5
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• pp.364-372
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• 2014

In order to improve organization performance by CEO's leadership, the control systems have to be designed in accordance with CEO's strategic orientation. A management control systems (MCS) is a system which gathers and uses information to evaluate the performance of different organizational resources like human, physical, financial and also the organization as a whole considering the organizational strategies. Present study explored the effects of CEO's Characteristics and control on organization performance. So this study adopted 'Risk-taking tendency', 'Achievement motivation' during psychological characteristics of CEO. For the control variable of this study, 'behavior control' and 'result control' were adopted. And for the variable of performance, financial performance was selected. As result of the study, Behavior control affects financial performance highly than result control. Through additional studies conducted during the same period, there is a significant indirect effect of achievement motivation and behavior control.

• The Journal of Economics, Marketing and Management
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• v.6 no.4
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• pp.51-64
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• 2018

Purpose - This study is intended to look into the influences of restaurant consumers' e-WOM information communication on product perception risk, benefit and WOM effect. Research design, data, and Methodology - To achieve this, a survey was empirically carried out to 426 restaurant consumers. Results - The findings are as follows. First, the influence of e-WOM on product perception risk showed that WOM information sender characteristics, WOM information recipient characteristics and online community had a statistically significant positive influence on product perception risk. Second, the influence of e-WOM on product risk benefit showed that WOM information sender characteristics, WOM information recipient characteristics and online communication had a statistically significant positive influence on product risk benefit. Third, WOM risk perception had a statistically significant positive influence on WOM acceptance. Fourth, WOM risk benefit had a statistically significant positive influence on WOM effect. Conclusions - As for the above-mentioned findings, the communication between e-WOM sender and recipient had a positive influence on the product evaluation and attitude change in the restaurant industry, and the WOM effect had an influence on the financial performance and non-financial performance. The communication attaches importance to a direct using and tasting experience due to the nature of restaurant industry when it is simultaneously performed as a positive mechanism between sender and recipient through each channel of these factors. But the e-WOM culture can lead to the WOM effect when both sender and recipient share the persuasive communicability in reality that diversifies communication methods, having a positive influence on the management performance.

• The Journal of Bigdata
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• v.7 no.2
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• pp.43-73
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• 2022

In order to improve productivity, reduce costs, and improve decision-making efficiency, which are one of the main contents of the digital transformation promotion goal, many companies are promoting the introduction of various IT for digital transformation. Information technology (IT) is a key means of determining competitiveness, and the IT adoption worldwide is increasing every year. The financial industry is also actively introducing huge amounts of IT every year to generate profits, improve work efficiency, and secure a strategic competitive advantage. Compared to some studies on the IT adoption in the public and corporate sectors, empirical studies that reflect the characteristics of the financial industry are insufficient. In this study, the purpose of this study was to derive factors affecting the IT adoption in the financial industry for the promotion of digital transformation, and to analyze weights and priorities. By revealing through data analysis that there is a difference in the relative priorities of factors in the financial IT adoption for each group, it can be used as a reference model for which factors should be considered prior to IT adoption from the perspective of each group. It will be meaningful in that it exists.

• Journal of Technology Innovation
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• v.20 no.1
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• pp.45-73
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• 2012

In this paper, we analyse empirically the effects of financial characteristics on the relationship between R&D investment and market value of firms listed on Korea Exchange. The main results of this study can be summarized as follows. Firm size increase the market valuation of R&D investment because it provides economies of scale, easier access to capital market, and R&D cost spreading. Market share also positively effects the relationship between R&D investment and firm value. Alternatively, free cash flow has a negative effect on the relationship between R&D investment and firm value because firms with high free cash flow could be tempted to use the free cash flow to undertake negative NPV projects. The dependence on external finance is a handicap negatively assessed by the market when firms undertake R&D projects due to the higher information asymmetry associated with this kind of project. Labor intensity has a negative effect on the relationship between R&D investment and firm value because the abnormal profits arising from R&D investment are diluted among employees. Capital intensity also has a negative effect on the relationship between R&D investment and firm value due to the greater financial constraints faced by capital intensive firms. In conclusion, several financial characteristics(firm size and market share) positively effect the relationship between R&D investment and firm value, while others(free cash flow, dependence on external finance, labor intensity, and capital intensity) exert a negative effect. Therefore, we conclude that the effectiveness of R&D investment depends on these financial characteristics.

• Journal of Distribution Science
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• v.13 no.10
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• pp.73-82
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• 2015

Purpose - This paper aims to investigate whether information asymmetry could explain capital structures in Korean corporations. According to Myers (1984), firms prefer internal funding to external financing due to the costs associated with information asymmetry. When external financing is necessary, firms prefer to issue debt rather than equity by the same reasoning. Since Shyam-Sunder and Myers (1999), numerous studies continue to debate the validity of the theory. In this paper, we show how the theory depends on assumptions and incorporated variables. We hope our investigation can provide helpful implications regarding capital structure, information asymmetry, and other firm characteristics. Specifically, our empirical results are complementary to the analysis of Son and Lee's (2015), a recent study that examines the pecking order theory prediction for Korean retail firms. Research design, data, and methodology - We test empirical models that are some variants of model used in Shyam-Sunder and Myers (1999). The financial and accounting data are provided by WISEfn for the firms listed on the KOSPI during 1990 to 2013. Bond ratings are supplied by the Korea Investor Service (KIS). We take into account the heterogeneity in debt capacity; a firm's debt capacity is measured by using the method of Lemmon and Zender (2010) based on its bond ratings. Finally, we estimate empirical models suggested by Shyam-Sunder and Myers (1999), Frank and Goyal (2003), and Lemmon and Zender (2010). Results - First, we find that Shyam-Sunder and Myers' (1999) prediction fails to explain total debt changes of Korean firms. Second, we find a non-monotonic relationship between total debt changes and financial deficits with respect to debt capacity. This contradicts the prediction of Lemmon and Zender (2010) that argues the pecking order theory survives with a monotonically increasing relationship. Third, we estimate a negative correlation coefficient between financial deficit and current debt changes. The result is the complete opposite of the prediction of Lemmon and Zender (2010). Finally, we also confirm the non-monotonic relationship between non-current debt changes and financial deficits with respect to debt capacity. Yet, the slope of coefficient is smaller than that of total debt change case. Indeed, the results are, to some extent, consistent with the prediction of pecking order theory, if we exclude the mid-debt capacity firms. Conclusions - Our empirical results complementary to the analysis of Son and Lee (2015), a recent study focusing on capital structure in Korean retail firms; their paper suggests interesting topics regarding capital structure, information asymmetry, and other firm characteristics in Korean corporations. Contrary to Son and Lee (2015), our results show that total debt changes and current debt changes are inconsistent with the prediction of Shyam-Sunder and Myers (1999). However, similar to Son and Lee (2015), non-current debt changes are consistent with the pecking order prediction, in the case of excluding the mid-level debt capacity firms. This contrast allows us to infer that industry characteristics significantly affect the validity of the pecking order prediction. Further studies are needed to analyze the economics behind this phenomenon, which is beyond the scope of our paper. In addition, the estimation bias potentially matters regarding the firm-level debt capacity calculation. We also reserve this topic for future research.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.5
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• pp.277-294
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• 2020

This study analyzed the effect of internal marketing factors of agricultural enterprises on corporate performance by using SNS as a moderating variable for agricultural enterprises workers. Internal marketing factors were divided into education and training, communication and compensation system, and corporate performance was set as a sub-variable of financial performance and non-financial performance. 349 questionnaires collected from agricultural enterprises workers were used for empirical analysis. The results of the analysis using SPSS v22.0 and Process macro v3.4 showed that first, communication and compensation systems had a significant effect on financial performance and education and training did not have a significant effect on financial performance. Second, communication has a significant effect on non-financial performance, and education and training has a negative effect on non-financial performance., and compensation system had no significant effect on non-financial performance. Third, SNS utilization significantly moderated the relationship between internal marketing factors and financial performance. Fourth, SNS utilization significantly moderated the relationship between internal marketing factors and non-financial aptitude. This study has significance that internal marketing factors that affect general companies are different due to the characteristics of agricultural management organizations, and that internal marketing factors that affect the performance of agricultural management organizations have been discovered. In particular, it was found that communication must be dealt with importantly to expand the performance of agricultural management. As a follow-up study, it is necessary to study the mediating model formed by the discovery of mediators and to study the moderated mediating analysis through the conditional process model in which the mediators are introduced.

• Journal of Distribution Science
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• v.12 no.11
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• pp.77-83
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• 2014

Purpose - The National Agricultural Cooperative Federation of Korea and National Fisheries Cooperative Federation of Korea have prosecuted both financial and retail businesses. As cooperatives are public institutions and receive government support, their sound management is required by the Financial Supervisory Service in Korea. This is mainly managed by CAEL, which is changed by CAMEL. However, NFFC's business section, managing the finance and retail businesses, is unified and evaluated; the CAEL model has an insufficient classification to evaluate the retail industry. First, there is discrimination power as regards CAEL. Although the retail business sector union can receive a higher rating on a CAEL model, defaults have often been reported. Therefore, a default prediction model is needed to support a CAEL model. As we have the default prediction model using a subdivision of indexes and statistical methods, it can be useful to have a prevention function through the estimation of the retail sector's default probability. Second, separating the difference between the finance and retail business sectors is necessary. Their businesses have different characteristics. Based on various management indexes that have been systematically managed by the National Fisheries Cooperative Federation of Korea, our model predicts retail default, and is better than the CAEL model in its failure prediction because it has various discriminative financial ratios reflecting the retail industry situation. Research design, data, and methodology - The model to predict retail default was presented using logistic analysis. To develop the predictive model, we use the retail financial statements of the NFCF. We consider 93 unions each year from 2006 to 2012 to select confident management indexes. We also adapted the statistical power analysis that is a t-test, logit analysis, AR (accuracy ratio), and AUROC (Area Under Receiver Operating Characteristic) analysis. Finally, through the multivariate logistic model, we show that it is excellent in its discrimination power and higher in its hit ratio for default prediction. We also evaluate its usefulness. Results - The statistical power analysis using the AR (AUROC) method on the short term model shows that the logistic model has excellent discrimination power, with 84.6%. Further, it is higher in its hit ratio for failure (prediction) of total model, at 94%, indicating that it is temporally stable and useful for evaluating the management status of retail institutions. Conclusions - This model is useful for evaluating the management status of retail union institutions. First, subdividing CAEL evaluation is required. The existing CAEL evaluation is underdeveloped, and discrimination power falls. Second, efforts to develop a varied and rational management index are continuously required. An index reflecting retail industry characteristics needs to be developed. However, extending this study will need the following. First, it will require a complementary default model reflecting size differences. Second, in the case of small and medium retail, it will need non-financial information. Therefore, it will be a hybrid default model reflecting financial and non-financial information.

• Journal of the Korean Operations Research and Management Science Society
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• v.26 no.1
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• pp.109-116
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• 2001

The detection of corporate failures is a subject that has been particularly amenable to cross-sectional financial ratio analysis. In most of firms, however, the financial data are available over past years. Because of this, a model utilizing these longitudinal data could provide useful information on the prediction of bankruptcy. To correctly reflect the longitudinal and firm-specific data, the generalized linear model with assuming the first order AR(autoregressive) process is proposed. The method is motivated by the clinical research that several characteristics are measured repeatedly from individual over the time. The model is compared with several other predictive models to evaluate the performance. By using the financial data from manufacturing corporations in the Korea Stock Exchange (KSE) list, we will discuss some experiences learned from the procedure of sampling scheme, variable transformation, imputation, variable selection, and model evaluation. Finally, implications of the model with repeated measurement and future direction of research will be discussed.

• Journal of Information Technology Services
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• v.19 no.3
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• pp.1-15
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• 2020

This study applies the Delphi method to design services with convergence characteristics in the financial sector. In designing a service robot for practical deployment that can support and replace bank teller, the opinions and judgments of various expert groups were extracted and a consensus process was made through feedback. A total of six dimensions and thirty service elements were derived over three rounds. Coefficient of Variation and content validity were used to verify the suitability and reliability of the selected service elements. As a result, the essential service element of robots was interaction with customers, followed by basic and professional financial services. Based on these service factors, we proposed two types of service models. support mode to assist employees during business hours and alternative mode on behalf of employees outside business hours. It is hoped that this study will use the Delphi technique in the design of IT convergence services.