• The Korean Journal of Health Service Management
• /
• v.14 no.2
• /
• pp.15-27
• /
• 2020

Objectives: The purpose of this study is to compare analysis of financial performance in university hospitals. Methods: Data from 2005 to 2017 were collected from income statement, balance sheet, and annual reports in 23 university hospitals. The dependent variables are used financial performance, namely, medical profit to total assets, medical profit to medical revenue, and net profit to medical revenue. The independent variables are establishment type, hospital province, bed, open liquidity, stability, and activity. Results: From 2005 to 2007, university hospitals steadily increased medical revenues, nonmedical revenues, medical profit, net profit, and reserve fund for essential business by investing fixed assets using financial leverage. From 2015 to 2017, the debt ratio was minimized based on existing management performance. Results showed that university hospitals maintained high profitability by actively investing in medical equipment, medical environment, and facilities using reserve fund for essential business. Conclusions: Results suggest that this will be the basic data for efficient management of university hospitals.

• Journal of the Korea Convergence Society
• /
• v.9 no.11
• /
• pp.353-361
• /
• 2018

The purpose of this study is to analyze how Corporate Real Estate Ratio affects Firm's Value for KOSPI Companies and KOSDAQ Companies. The period of analysis is the period of the Financial Crisis (2007-2008), the period immediately after the Financial Crisis (2009-2011), and the period following the introduction of IFRS (2012-2016). The samples of 2761 KOSPI Companies years and 3719 KOSDAQ Companies years are used in this study. The result of Regression Analysis shows that the higher Corporate Real Estate Ratio is, the more negative Firm's Value is. In the comparison of markets, both KOSPI Companies and KOSDAQ Companies had no statistically significant effects during the Financial Crisis. Although KOSDAQ Companies had a greater negative effect on the Firm's Value than KOSPI Companies right after the Financial Crisis, KOSPI Companies have had a greater negative influence on the Firm's Value than KOSDAQ Companies since the introduction of IFRS. Therefore, each corporation should pay more attention to identifying the appropriate amount of their Corporate Real Estate Ratio and should continue to analyze and make decisions on the most efficient use of real estate which is owned by each company. This study shows speciality in dividing into three period, such as the period of the Financial Crisis, the period immediately after the Financial Crisis, and the period following the introduction of IFRS and comparing the degree of influence on the KOSPI Companies and KOSDAQ Companies for the each period. I hope to study the factors that affect the company's real estate policy.

• Korean Journal of Social Welfare
• /
• v.49
• /
• pp.129-161
• /
• 2002

This study explores whether there are differences in financial structure and governmental support between social service organizations and other nonprofit organizations. In addition, it analyzes what factors are related to governmental supports for both types of nonprofit organizations. Guided by the argument that specific areas where nonprofits primarily operate can explain a difference of relations between nonprofit organizations and funders, this study compares revenue sources and expenditures of social service organizations and other nonprofit organizations in the United States. Also, based on resource dependence theory and taking some important indexes from financial ratio analysis, this study also identifies factors that affect governmental supports for nonprofit organizations. The study sample consists of 10,690 organizations that reported tax form 990 in 1996. Binary logistic regression analysis was conducted for the study. The results show that social service organizations obtained more revenue from government than other nonprofit organizations. Also, logistic regression analysis suggests that revenue diversification and financial characteristics were significantly associated with governmental supports for nonprofit organizations in the United States.

• The Journal of Asian Finance, Economics and Business
• /
• v.4 no.2
• /
• pp.55-68
• /
• 2017

This research is carried out to investigate the relationship between sustainability practices and performance in a financial sense for Malaysian Oil and Gas sector. Objectives include to study the state of sustainability disclosure among Malaysian oil and gas companies, to understand if companies that practiced sustainability had better performances to their financial bottom-line and to conduct a data analysis to understand the relationship between Environmental, social and governance performance [represented by the acronym ACSI] and financial performance. Sustainability performance is measured using ACSI checklist, which is an adaptation of the GRI 3.0 by Global reporting initiative while financial performance was measured on financial and profitability parameters namely EBITDA, EPS and PE ratio. Secondary data sources are used which were then converted into a rating scale to develop quantitative data. SPSS 21 is used for the analysis. The result shows that the majority of oil and gas companies in Malaysia had poor performance in terms of sustainability disclosure. On all three chosen profitability parameters, the companies that practiced sustainability were found to perform better than their counterparts that did not. Strong and significant relationship exists between sustainability practices and better financial performance.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.7
• /
• pp.231-237
• /
• 2022

Intellectual Capital, a valuable intangible organizational asset, is primarily linked to a company's financial performance and is divided into three categories: human, structural, and relational capital. This paper investigates the impact of intellectual capital on the financial performance of selected Pakistani companies in the Information and Communication sector, as this sector is heavily reliant on intellectual capital. The data for 11 firms was gathered from the State Bank's Financial Statements Analysis of Companies Listed on the Pakistan Stock Exchange from 2015 to 2020. Pulić's (2004) Value Added Intellectual Coefficient (VAICTM) has been used to assess a company's IC efficiency. VAIC^TM and its components, the efficiency of intellectual capital, and the efficiency of capital employed are calculated. Financial performance is measured through return on assets, return on capital employed, and asset turnover ratio. Multiple regression, fixed-effect, and random-effect Panel Data estimation are used in the empirical study. The findings suggest that intellectual capital efficiency has a large impact on major profitability metrics, but little effect on company productivity. It can be inferred from the results that the companies must invest in advanced technology, the latest machinery, and well-equipped offices to improve financial performance and productivity and gain a competitive advantage.

• Journal of the Korean Home Economics Association
• /
• v.38 no.7
• /
• pp.13-26
• /
• 2000

The purpose of this study were to identify the financial status of the home based business, and to analyze the factors effected on it. The sample consisted of 713 self-employed from data of 1998 Korea Household Panel Study, and analyzed into Frequencies, Percentile, t-test, $\varkappa$$^2$-test, and Regression Analysis. The findings showed that the household income and expenditure level of female self-employed was higher than those of male self-employed. In case of financial status of business, male self-employed's net profit was higher than female's and the net profit to total sales ratio of male self-employed was greater than female's. The factors contributing to total expenditure to total income ratio were sex, educational level, future economic expectancy, residence and home ownership of self-employed, while the factor effect on total asset to total debt ratio was only total household income. The Variables of sex, educational level of self- employed, job type of home based business and the number of employees in home based business were associated with net profit to total sales ratio, age and educational level of serif-employed, and job type of home based business was related to total sales to the number of emploees ratio(labor productivity).

• Journal of Digital Convergence
• /
• v.17 no.4
• /
• pp.65-73
• /
• 2019

This study performed Panel Regression Analysis (PRA) with the debt ratio as a dependent variable and the ROE (return on equity), sales volume, current ratio, total capital, and Shanghai Containerized Freight Index (SCFI) as an independent variable. According to the GLS analysis, the current ratio to liabilities ratio was negative, and for sales, the ratio of liabilities was positive. Capital totals also had a negative impact on the debt ratio. However, ROE, unlike the hypothesis, had negative effects on the liability ratio, and the SCFI index was not significant. As implications of this research, the company confirmed that its sales increased as the debt ratio of global shipping companies rose, achieving economies of scale. However, it was confirmed that the actual size of the economy through the injection of other capital would help increase sales but not affect net profit. Shipping companies should expand their business power and secure large container vessels to secure credibility of shippers. In the future research, an analysis considering exchange rate, global economic growth rate, and manufacturing production index is needed.

• Journal of Korean Society for Quality Management
• /
• v.42 no.3
• /
• pp.361-372
• /
• 2014

Purpose: In this paper, we investigate whether the endeavors for 6 sigma quality management by a firm have positive effects on its financial performance and the length of 6 sigma implemented period affects its financial status. Methods: We conduct the analysis using the data from Workplace Panel Survey 2009. We use multiple linear regression in order to analyze the relationship between the efforts for quality management and financial performance. Specifically, the return on assets (ROA) and return on equity (ROE) are investigated as dependent variables and the efforts for quality management as independent variable. The Box-Cox transformation and Cook's distance are also used. Results: As a result of the analysis, the indication is that companies that put effect 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.

• Korean journal of food and cookery science
• /
• v.23 no.2 s.98
• /
• pp.270-279
• /
• 2007

The purposes of this study were to analyze the profitability of audited restaurant franchise firms and to investigate the financial variables affecting profitability. This study decomposed profit variation into the three main factors comprising the Du Pont Identity (operating efficiency, asset use efficiency and financial leverage). The operating efficiency of restaurant franchise firms was on the rise until 2004, but dropped dramatically in 2005. Especially, the profit margin dropped from 13.46% in 2004 to 6.54% in 2005. The asset use efficiency has been decreasing since 2003. The total asset turnover ratio, which can be indicative of over-investment, dropped from 1.55 in 2003 to 1.50 in 2005. The financial leverage remained stable after 2002. There were major differences in debt accumulation among the firms, and the current level of debt was thought to be higher in the restaurant industry than in other industries. Based on the results of a multiple regression analysis, we concluded that the factors affecting ROE were the debt-equity ratio, total asset turnover and the size of the firm. The debt-equity ratio and total asset turnover had a significantly positive effect on ROE, while the firm size had a significantly negative effect on ROE. However, the current ratio and sales growth rate were not significant. The finding that firm size and profitability were negatively related implied that restaurant franchise firms should pursue qualitative growth rather than quantitative growth. There was no major difference in profitability between domestic brands and foreign brands. However, the domestic brand was more efficient in terms of asset usage than the foreign brand.

• Journal of Venture Innovation
• /
• v.2 no.2
• /
• pp.95-115
• /
• 2019

In the context of today's business environment, not only is the nation or company's credit rating considered very important in our recent society, but it is also becoming important in international transactions. Likewise, at this point of time when the importance and reliability of credit evaluation are becoming important at home and abroad, this study analyzes financial ratios related to corporate profitability, safety, activity, financial growth, and profit growth to study the impact of financial indicators on enterprise value and corporate taxes on credit evaluation. To proceed with this, the financial ratio of 465 companies of KOSPI securities listed in 2017 was calculated and the impact of enterprise value and corporate taxes on credit evaluation was analyzed. Especially, this further study tried to derive a reliable and consistent conclusion by analyzing the financial data of KOSPI securities listed companies for eight years from 2011, which is the first year of K-IFRS introduction, to 2018. Research has shown that the significance levels among variables that show the profitability, safety, activity, financial growth, and profit growth of each financial ratio were significant at the 99% level, except for the profit growth. Validation of the research hypothesis found that while the profitability of KOSPI-listed companies significantly affects corporate value and income tax, indicators such as safety ratio and growth ratio do not significantly affect corporate value and income tax. Activity ratio resulted in significant effects on the value of enterprise value but not significant impacts on income taxes. In addition, it was found that the enterprise value has a significant effect on the company's credit and corporate income taxes, and that corporate income taxes also have a significant effect on the corporate credit evaluation, and this also shows that there is a mediating function of corporate tax. And as a result of further study, when looking at the financial ratio for eight years from 2011 to 2018, it was found that two variables, KARA and LTAX, are significant at a 1% significant level to KISC, whereas LEVE variables is not significant to KISC. The limitation of this study is that credit rating score and financial score cannot be said to be reliable indicators that investors in the capital market can normally obtain, compared to ranking criteria for corporate bonds or corporate bills directly related to capital procurement costs of enterprise. Above all, it is necessary to develop credit rating score and financial score reflecting financial indicators such as business cash flow or net assets market value and non-financial indicators such as industry growth potential or production efficiency.