• Journal of Families and Better Life
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• v.9 no.2
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• pp.103-117
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• 1991

The purpose of this study was to investigate causal relations of resources and demands, family financial management and subjective financial wee-being among urban households by applying a system's approach. The data were collected through the questionnaire whose respondent were 455 housewives in Seoul. The data were analyzed by various statistical methods such as Frequency. Percentile, ANOVA , F-test, T-test, Pearson's correlation analysis, Multiple Regression Analysis. Path Analysis. The results of this research were as follows. 1) The level of subjective financial wee-being among urban households exceeded the middle level. It had significant differences according to resource variables such as age of housewife. education level of housewife, housewife's occupation, househead's occupation. per capita income, debt/net asset ratio, and according to demand variables such as aspiration, expectancy, perception of financial progress, relative deprivation. 2) The level of subjective financial well-being among urban households according to level of family financial management capability has significant differences. Therefore, the higher family financial management capability, the higher level of subjective financial well-being. 3) Among all variables affecting the subjective financial well-being among urban households. aspiration had the highest relative influence on the subjective financial well-being and per capita income, occupation of househead and family financial management variables were in this order. 4) Among all variables affecting the subjective financial well-being among urban households aspiration, occupation of househead, per capita income and finacial management variables had direct effect on subjective financial well-being . Besides housewife's education level, aspiration and per capita income had indirect effect on it through family financial management.

• Journal of the Korean Home Economics Association
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• v.29 no.4
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• pp.151-165
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• 1991

The purpose of this study was to examine causal model of resources and demands, family financial management and subjective financial security among urban households based on system theory. For this purpose, the data were collected by the questionnaire sheets. 455 housewives participated this survey in Seoul. And the data were analyzed by various statistical methods such as Frequency, Percentile, ANOVA, F-test, Pearson's correlation analysis, Multipe Regression Analysis, and Path Analysis. The results of this research were as follows: 1. There were significant differences in the Subjective Financial Security according to resource variables and demand yariables. Those variables were such as housewive's age, education, occupation, househead's occupation, per capita income, aspiration, expectancy, perception of financial progress and relative deprivation. 2. The higher family financial management level, the higher level of Subjective Financial security. And the higher family financial management plan·implement level, the higher level of Subjective Financial security. 3. The lower debt/asset ratio, the higher level of Subjective Financial security. 4. Aspiration, per capita income an financial managemant variables showed direct effect on Subjective Financial security among all variables affecting the urban households' Subjective financial security. While housewive's education level, aspiration, per capita income and husband's occupation affected indirectly on the Subjective Financial security through family financial managemant.

• The Journal of Industrial Distribution & Business
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• v.8 no.4
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• pp.47-52
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• 2017

Purpose - This current study will investigate the average financial ratio of top and failed five-star hotels in the Jeju area. A total of 14 financial ratio variables are utilized. This study aims to; first, assess financial ratio of the first-class hotels in Jeju to establishing variables, second, develop distress prediction model for the first-class hotels in Jeju district by using logit analysis and third, evaluate distress prediction capacity for the first-class hotels in Jeju district by using logit analysis. Research design, data, and methodology - The sample was collected from year 2015 and 14 financial ratios of 12 first-class hotels in Jeju district. The results from the samples were analyzed by t-test, and the independent variables were chosen. This was an empirical study where the distress prediction model was evaluated by logit analysis. This current research has focused on critically analyzing and differentiating between the top and failed hotels in the Jeju area by utilizing the 14 financial ratio variables. Results - The verification result of the accuracy estimated by logit analysis has shown to indicate that the distress prediction model's distress prediction capacity was 83.3%. In order to extract the factors that differentiated the top hotels in the Jeju area from the failed hotels among the 14 chosen, the analysis of t-black was utilized by independent variables. Logit analysis was also used in this study. As a result, it was observed that 5 variables were statistically significant and are included in the logit analysis for discernment of top and failed hotels in the Jeju area. Conclusions - The distress prediction press' prediction capability was compared in this research analysis. The distress prediction press prediction capability was shown to range from 75-85% by logit analysis from a previous study. In this current research, the study's prediction capacity was shown to be 83.33%. It was considered a high number and was found to belong to the range of the previous study's prediction capacity range. From a practical perspective, the capacity of the assessment of the distress prediction model in the top and failed hotels in the Jeju area was considered to be a prominent factor in applications of future hotel appraisal.

• The Journal of Fisheries Business Administration
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• v.34 no.1
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• pp.31-44
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• 2003

The purpose of this study is to investigate empirically interaction among the financing decision, investment decision, and profitability by using 41 fisheries corporations in Korea, and to suggest implications of the empirical results for government's financial policy for fisheries corporations. Sample period is 19 years from 1982 till 2000. This analysis method employs the two stage least squares(2SLS) estimation method. From the results of regression analysis by 2SLS estimation method, the adjusted $R^2$ values were high and the overall F values indicated significant. The empirical results of this study are as follows; (1) determinant factors of capital structure model for fisheries are profitability, firm-size, fisheries investment of total asset, and business risk. As pecking order theory explains, the higher is profitability the lower is debt ratio. The larger firm-size, the higher is debt ratio. The higher is fisheries investment of total asset and business risk, the higher is debt ratio. (2) determinant factors of investment model for fisheries are the change of sales, business risk, and debt ratio. These factors have positive relation to fisheries investment of total asset (3) determinant factors of profitability model for fisheries are fisheries investment of total asset and debt ratio. These factors have negative relation to profitability. On the basis of analysis results, on the government's financial policy for fisheries corporations, I suggests that with interest rate reduction, the government should lend more funds to solve the crisis in the financial structure of the fisheries firms

• The Journal of Fisheries Business Administration
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• v.28 no.2
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• pp.1-18
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• 1997

The purpose of this study is to investigate empirically the characteristics of financial structure by using 76 fisheries corporations in Korea, and to suggest implications of the empirical results for government's financial policy for fisheries corporations. For the empirical test, we choose the following factors as the explanatory variables of cross-sectional regression analysis:firm-size(SIZE), collateral value of assets(TFATA), business risk(BRISK), growth(GROWTH), effective tax(ET), profitability(PROFIT). Two different debt ratios are used as dependent variables. One is defined as the ratio of total debt to total assets and the other is as that of long-term debt to total asset in terms of book value. The sample consists of 76 fisheries firms and sample period is 14 years from 1982 till 1995. From the results of cross-sectional regression analysis, the adjusted R$^2$values were high, 16∼79% and the overall F values indicated to be statistically significant. The results of cross sectional regression analysis show that the characteristics of financial structure fur fisheries corporations are as follows ; (1) Firm-size and collateral value of assets are the major factors of financial structure for fisheries corporations. That is, the larger firm-size the higher is debt ratio. This means that financial institutions conventionally lend more collateral loans with fixed assets like land, building rather than management capacities or credits. (2) To be consistent with a pecking-order theory, the higher is profitability the lower is debt ratio in fisheries corporations. (3) Corporations with high effective tax rate have lower financial leverage. Although the empirical results are inconsistent with traditional static trade-off theory, we think it would be attributed to government's various tax shelterings for fisheries which are likely to reduce tax shield effect of interests.

• Korea Journal of Hospital Management
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• v.8 no.3
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• pp.118-142
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• 2003

This study is aimed at evaluating the financial structure of hospitals before and after the separation of prescription and drug dispensing policy started to be implemented in July 2000 and at making a suitable hospital managerial strategy through the verification of the factors which have effect on their profitability. This study investigated the hospitals which have passed the accredition review to be designated as a accredited training hospital each year for three years from 1999 to 2001. Those hospitals were selected from members of the Korea Hospital Association. 106 hospitals were targeted for analysis except for the hospitals whose financial statements and managerial performance were not reported faithfully. The financial indicators used in this study were stability indicators(liability to total assets, ratio of debt to fund balance, fixed ratio), liquidity indicators(current ratio, quick ratio), activity indicators(total assets turnover, fixed assets turnover), profitability indicators(net profit to total assets, net profit to net worth, operating margin), and operating expenses to patient revenues indicators(drug and supplies costs/payroll/overhead expenses). The result of this study are as follows: First, the analysis of the increase of loss-making hospitals before and after. The separation of prescription and drug dispensing policy shows that the number of loss-making hospitals increase after the separation(22.6% before the separation; 31.1% after the separation). However, there was no significant statistical difference. Second, the analysis of operating expenses to patient revenues indicators showed that the ratio of drug and supplies cost became lower in all hospitals but the ratio of payroll/overhead expenses became higher. Additionally, the factor which have the greatest effect on profitability was operating expenses to patient revenues indicators (drug and supplies costs/payroll/overhead expenses). Third, the analysis of managerial performance by four types of loss-loss, loss-profit, profit-loss and profit-profit compared the results before the separation with those after the separation revealed as follows : Reliance on liability to total assets became higher in the profit-loss type($56.2%{\rightarrow}66.4%$), lower in the loss-profit type($82.7%{\rightarrow}74.5%$). Total assets turnover became higher in the profit-profit type($1.3{\rightarrow}1.5$), but lower in the loss-profit type($0.8{\rightarrow}0.7$). Operating margin decreased to minus 5.9% from 4.3% in the profit-loss type, but increased to 7.2% from minus 7.8% in the loss-profit type. Forth, operating expenses to revenues indicators showed that the increase of payroll was the biggest in the profit-loss type($39.2%{\rightarrow}49.9%$) and that overhead cost decreased in the loss-profit type but that rather increased in other types.

• Journal of Korean Clinical Health Science
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• v.2 no.1
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• pp.1-16
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• 2014

Purpose. For a more efficient hospital management, this study aims to provide basic data so that the hospital management and staff in charge of hospital administration may systematically classify and collect hospital information, by analyzing the ordinary characters of an upper-level general hospital system and its common-type balance sheet, common-type profit and loss statement and financial ratio. Methods. By using information about an upper-level general hospital in C Province, provided by Alio(www.alio.go.kr), a public organization information provision site, Health Insurance Review & Assessment Service(www.hira.or.kr) and Ministry of Health and Welfare(www.mw.go.kr), this study analyzed 3 year's data from 2010 to 2012 and provided basic data by analyzing the ordinary characters of an upper-level general hospital system, and its common-type balance sheet, common-type profit and loss statement and financial ratio. Results. After analyzing the ordinary characters, common-type balance sheet, common-type proft and loss statement and financial ration of this general hospital, based on the 2010 to 2012 data, this study came to the following conclusions. Firstly, out of all the 1,069 hospital staff, there were 272 doctors working for 24 medical departments, out of whom the majority was 33 physicians. Most of the nurses were third-class ones, and about 2,000 outpatients and 600 inpatients on average were treated per day. Secondly, as a result of analyzing the common-type balance sheet, this study discovered that intangible assets out of fixed assets accounted for 41%, the majority, out of which usable and profitable donation asset buildings were of great importance, and the liquid assets increased more in 2012 than 2011. In the financial structure, the ratio of liquid liabilities was over 50% out of all the liabilities in 2012, and the ratio of purchase payables was high as well. The ratio of fixed liabilities reached up to 40%, out of which the retirement benefit appropriation fund was quite high. The capital was over 80%, but the surplus was in a deficit state. Compared to the capital, the ratio of total liabilities was about 90%, which indicates the financial structure of this general hospital was vulnerable. Thirdly, as a result of analyzing the common-type profit and loss statement, this study found out that the medical profits from inpatients were higher than profits from outpatients. The material cost was related to the medical quality of this general hospital, and it was as high as 30% out of the total costs and was about 45% of the labor cost. This general hospital showed 10% in the ratio of non-medical profits, and it seemed because of government subsidies. The ratios of medical profits and current net income were gradually changing for the better in 2012, compared to 2011. Lastly, as a result of analyzing the financial ratio, it was found that the liquidity ratio kept decreasing, from 110.7% in 2010 and 102.0% in 2011 to 77.2% in 2012. Besides, it was analyzed that the liquidity ratio and the net working capital ratio greatly decreased, while the quick ratio and the liquid ratio kept decreasing. Conclusions. 1. It is necessary to take the risk management into more consideration, and particularly, it is needed to differentiate and manage the levels of risk in detail. 2. By considering the fact that investments into hospital infrastructures were mostly based on liabilities, it is needed to deal with the scale of losses when evaluating risks. 3. By reflecting the character that investments into hospital infrastructures were based on liabilities, it is necessary to consider the ratio of ordinary profits as well as the ratio of operating profits to sales, and it is also important to consider sales productivity factors, such as the sales amount per a sickbed, by comparing them with other hospitals. As for limitations of this study, there may be some problems in terms of data interpretation because of the lack of information about the number of inpatients and the number of outpatients per year, which are needed for the break-even point analysis. Besides, to suggest a direction for the improvement of hospital management through analyses, non-financial factors should be reflected, such as the trend of economy, medical policies, and politic backgrounds. However, this study only focused on the common-type balance sheet, common-type profit and loss statement and financial ratio, so this study is actually limited to generalizing all the factors by analyzing public data only.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.329-340
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• 2020

This study investigates the effect of capital structure on the financial performance of pharmaceutical enterprises which are listing on Vietnam's stock market. The study builds the regression using ROE as dependent variable and four independent variables, including self-financing, financial leverage, long-term asset and debt to assets ratios. In addition, we use other variables as controlling ones, such as firm size, fixed asset rate and growth. We collect data for the period from 2015 to 2019 of all 30 pharmaceutical enterprises which are currently listing on Vietnam's stock market. The least square regression (OLS) is used to test the effect of capital structure to the firms' financial performance. The analysis results show that the financial leverage ratio (LR), long-term asset ratio (LAR) and debt-to-assets ratio (DR) have positive relationship with firm performance, meanwhile the self-financing (E/C) affects negatively to the return on equity (ROE). Upon the findings we suggest that the Vietnamese government should focus on stabilizing macro environment to create favorable environment for enterprises. And the pharmaceutical enterprises should build more reasonable capital structure with higher debt proportion than equity, diversifying loan mobilization channels such as issuing long-term bonds. Additionally, the firms should expand the scale appropriately to maintain development and ability to pay debts.

• Journal of the Korean Home Economics Association
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• v.30 no.1
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• pp.237-255
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• 1992

The purpose of this study was to investigate relations of resources and demands, family financial management and financial statement of urban households by applying a system approach. The results of this study were as follows; Saving rate had significant differences according to resources variables such as age, family life cycle, occupation of househead and housewife, ratio of employed to family member, and to demands variabels such as subjective prospect of business cycle, and value orientation, whereas total saving amount had significant differences according to resources vaiables such as age, family life cycle, educational level, percapita income, occupation of househead, type of income and to demand variable, perception of relative income. Also average monthly saving amount had significant differences according to resources vaiables such as educational level, per capita income, occupation of housewife, housing ownership, ratio of employed to family member, ratio of dependent to employed, and to demands variable, perception of relative income. The stocks had significant differences according to resources variables such as age, family life cycle, educational level, per capita income, occupation of househead, type of income, and housing ownership. Finally, real estate had significant differences according to resources variables such as age, family life cycle, educational level, percapita income, occupation of househead, type of income, housing ownership, and to demands variable, perception of relative income. Financial Statement among urban households according to family financial management had significant differences. And among all variables affecting financial statement among urban households, per capita income had the highest effect and perception of relative income was the second.

• Journal of Applied Reliability
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• v.16 no.2
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• pp.78-89
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• 2016

Purpose: In this paper, we investigate whether the endeavors for Six Sigma quality management by a firm have positive effects on its financial performance and the length of Six Sigma implemented period affects its financial status. We find a relationship between Six Sigma implemented period and several financial performance index using a smoothing spline function. Methods: A smoothing spline function is used in order to analyze the relationship between efforts for quality management and financial performance. Specifically, the return on assets, return on equity, sales cost and business fee are investigated as dependent variables and the efforts for quality management as independent variable. Results: As a result of the analysis, the indication is that companies that put effects into the Six Sigma quality management have a positive result in its financial status. In detail, the efforts for Six Sigma quality management have positive effects on total asset turnover ratio and Six Sigma implemented period on net income to net sales ratio. Additionally, companies with longer (shorter) period of Six Sigma program have more (less) improvement in its financial status. Conclusion: It can be concluded that the company's efforts for quality management positively influence financial performance.