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Categorical Financial Analyses on the Level of Corporate Cash Reserves for the Korean Chaebol Firms in the Post-Era of the Global Financial Crisis (국제금융위기 이후 한국 재벌기업들의 현금유보 수준에 대한 계층별 재무적 특성요인 분석)

  • Kim, Hanjoon
    • The Journal of the Korea Contents Association
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    • v.16 no.2
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    • pp.729-739
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    • 2016
  • The primary objective of implementing the study was to further investigate any pronounced financial components affecting the level of cash retention for the Korean chaebol firms. The research was framed to test for two hypotheses on the cash savings with utilizing the chaebol firms during the post-era of the global financial turmoil (from 2009 to 2013). In the first hypothesis test, any significant explanatory variables relative to the cash holdings, were identified in each corresponding category of the conditional quantile regression (CQR) model, while multilogistic regression analysis was performed to discriminate relevant financial factors in each pair of classes consisting of the chaebol firms. Concerning the results, liquidity, agency costs, and cash conversion cycle were found to be statistically significant in the majority of classified categories in the former test and liquidy, firm size, and dividend yield, also showed discriminating powers in each pair of categorical for the firms in the latter test.

A Case Study on Corporate Social Responsibility(CSR) of Domestic Cosmetics Companies (국내화장품기업의 사회공헌활동(CSR)에 대한 사례분석)

  • Yoon, Jin-Suk;Lee, Jae-Ha
    • Journal of Convergence for Information Technology
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    • v.8 no.5
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    • pp.219-228
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    • 2018
  • The purpose of this study is to analyze the cases of social contribution activities of cosmetics companies and to suggest directions for related activities to be continued more effectively in the future. The case was analyzed through the report, public information, and interview with the person in charge. The main results derived from previous studies and case studies. First, social contribution activities of cosmetics companies are performed in a variety of ways such as education, business, medical care, health, environmental protection, culture, art, donation etc. Second, corporate social contribution activities and diversity were found to be highly correlated with firm size. Third, the effectiveness of social contribution activities can be enhanced through collaboration with social enterprises and professional organizations. Forth, strategic approach to social contribution activities, systematic public relations, and CEO's sense of responsibility have a major influence on related activities. Based on the results of this study, it has been suggested that CSR activities of cosmetics companies can be made more effective.

Contingent Analysis of the Relationship between Evaluation type and MIS Performance (MIS 평가 유형과 MIS 성과 간의 상황적 관계에 관한 연구)

  • Chung, Moon-Sang
    • The Journal of Information Systems
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    • v.13 no.2
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    • pp.225-240
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    • 2004
  • The most critical problem of MIS evaluation is the lack of the systematic framework to cover various factors and viewpoints. To solve this problem, this study takes the multi-level and contingent approach to performance evaluation, composed of three levels: evaluating the contribution of MIS to an organization [strategy level]; evaluating the activities of MIS department or MIS function as an organizational sub-function through the overall MIS lifecycle [function level]; and evaluating the quality or productivity of the application systems as MIS outputs [system level]. Ideal MIS evaluation should include all three levels of the hierarchy with balanced importance. However, MIS evaluationcanbedividedintothreetypes,suchasstrategy-oriented, function-oriented and system-oriented evaluation, depending on the focus and emphasis of evaluation. The usage pattern of each evaluation type is analyzed according to contingent variables of MIS evaluation such as MIS maturity, information intensity and firm size, and top management's intent. It is also found that the firms of higher MIS maturity and top management's intent use the strategy-oriented evaluation type, and the firms with strategy-oriented evaluation type show a higher MIS performance. Further, MIS maturity and top management's intent show contingent effects between evaluation type and MIS performance. Some managerial implications can be drawn based on the results of the study. First, strategy-oriented evaluation of MIS is more important as many firms more often use information technology as a strategic weapon. Second, MIS performance varies with evaluation type. Therefore, the design of MIS evaluation framework should be done carefully in the strategic and managerial contexts. Third, firms are recommend to use a different evaluation type according to organizational characteristics such as MIS maturity and information intensity.

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The Effect of Management Innovation on the Relationship between Corporate Social Responsibility and Financial Performance (국내 제조기업의 경영혁신이 사회적책임활동과 재무성과간의 관계에 미치는 영향)

  • Oh, Sang-Hoon;Park, Hyeon-Suk
    • Journal of Digital Convergence
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    • v.16 no.6
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    • pp.175-185
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    • 2018
  • The purpose of this study is to present the direction of CSR activities for sustainable management by analyzing the mediating effect of management innovation on the relationship between corporate social responsibility (CSR) activities and financial performance. In order to verify the research hypothesis, the results of the questionnaire of 517 employees of domestic manufacturing companies were obtained and analyzed using SPSS 18.0 and AMOS 20.0. First, CSR activities have a positive effect on management innovation. Second, management innovation and financial performance showed a positive relationship. Third, we confirmed the mediating effect of management innovation on CSR activities and financial performance. Lastly, we can confirm only the partial control effect according to the size of company in the relation of CSR activity and management innovation. It is necessary to establish systematic theories between CSR activities and financial performance through further analysis of various parameters in the future.

Sudoriferous Cyst Adhered to Levator Aponeurosis: A Case Report (상안검 거근건막에 유착된 한선낭종의 치험례)

  • Cho, Jeong Nam;Suh, In Suck;Chung, Chan Min;Tak, Kyoung Seok;Sin, Mi Kyoung
    • Archives of Craniofacial Surgery
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    • v.9 no.2
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    • pp.93-96
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    • 2008
  • Purpose: Sudoriferous cyst usually occurs on the face, and especially on the ear and scalp as a solitary cystic mass. It is derived from the sweat glands of Moll and results from the obstruction of excretory ducts with the retention of fluid. In the eyelid, it is usually seen as small and firm vesicle arising at the eyelid margin. If it rarely occurs on the orbit, it develops from orbital ectopic epithelial cells predetermined to form glands of Moll. We experienced a case of sudoriferous cyst on eyelid which was adhered to levator aponeurosis and it disappeared when patient closed eyes. Methods: A 55-year-old women suffered palpable mass on left upper eyelid without pain that had been present for 25 years. Orbital computed tomographic finding showed a oval mass($2.1{\times}0.6{\times}0.6cm$ size) inside upper eyelid and it invaded the orbit. The mass was completely excised under general anesthesia and histopathological examination was followed. Results: Cystic mass was purple color and it was located in superiorly to tarsal plate. The mass was adhered to levator aponeurosis and levator palpabrae superioris muscle between the fat layer of post-orbital septum and the Whitnall ligament. The mass was completely excised without injury of aponeurosis and muscle. Microscopically, the lesion was a solitary cyst lined by two layers of cuboidal epithelial cells and innermost cells displaying eosinophilic cytoplasm with apical expansions. Conclusion: Sudoriferous cyst usually occurs on eyelid margin. But in this case, cystic mass occurred on upper eyelid and disappeared when patient closed the eyes because it was partially adhered to levator aponeurosis and levator palpebrae superioris muscle. Therefore, if sudoriferous cyst occurs on eyelid, it is necessary to excised the mass carefully.

An Empirical Analysis on the Determinants of Entry into Foreign Markets of Small- and Medium- sized Service Firms : Focused on Korean Beauty Industry (중소 서비스기업의 해외시장진출 결정요인에 관한 실증분석 : 대구.경북지역 미용서비스업 중심으로)

  • Hong, Song-Hon
    • International Commerce and Information Review
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    • v.11 no.2
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    • pp.149-172
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    • 2009
  • Service industries nowadays have become the subject of a scientific research. However, unlike research on manufacturing, there has not yet been a broader presentation of important aspects theoretically and methodologically. The importance of service sector in both national and global economies has grown significantly. An active participation of service industries in the internationalization process, notably by licensing and FDI, has occurred over time. But a few sub-sectors still dominate on this process, for example, financial institutions such as banks, securities, and insurance as well as producer services in advertising and accounting. On the other hand, personal services that are owned by small- and medium- sized firm have limited capabilities in their transnational transfer. This paper attempts to examine various factors influencing decisions for these small- and medium- sized Korean beauty firms in entering to the foreign markets. Determining factors for these firms in the engagement of internationalization depends largely on competitive advantages in both domestic and host countries, and they may be different from those in the sub-sectors mentioned above. Based on previous researches, i identified three categories of independent variables(characteristics of firms, managers, and competition) that can influence decisions to enter to the foreign markets. Seven hypotheses have been tested by using a sample of beauty firms in Daegu city and Kyungbuk province. The results show that the intention of these firms to enter to the foreign markets is significantly influenced by the factors of the innovative character of CEO's, the competitiveness of firms, and size of firms.

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An Experimental Study on the Injector-spray Behavior of a Liquid-propellant Thruster (액체추진제 추력기의 인젝터 분무 거동에 대한 실험적 연구)

  • Kim, Jin-Seok;Kim, Sung-Cho;Park, Jeong;Kim, Jeong-Soo
    • Journal of the Korean Society for Aeronautical & Space Sciences
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    • v.35 no.9
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    • pp.799-804
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    • 2007
  • The behavior of spray emanating from an injector to be employed in a liquid-propellant thrust chamber is investigated by optical measurement techniques. The injector has eight holes, each of which has 30 cant angle from the center-axis with the diameter of 0.406 mm. In order to examine an atomization process according to the spray-generation conditions and the evolution along spray downstream, variational features in the velocity and size of droplets obtained through Dual-mode Phase Doppler An 799emometry (DPDA) are delineated and discussed together with instantaneous plane images captured by using Nd:Yag laser sheet beam. A categorization of spray-flow regime representing the atomization and turbulent nature is made through evaluating the non-dimensional parameters, i.e., Reynolds number and Weber number based upon the theoretical injection velocity. These qualitative and quantitative data of spray breakup will be a firm basis for the design of brand-new thruster

Physicochemical Properties of Korean Non-sterilized Commercial Makgeolli (국내 시판 생막걸리의 이화학적 특성)

  • Kang, Ji-Eun;Choi, Han-Seok;Choi, Ji-Ho;Yeo, Soo-Hwan;Jeong, Seok-Tae
    • The Korean Journal of Community Living Science
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    • v.25 no.3
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    • pp.363-372
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    • 2014
  • This study was examined the quality characteristics of 20 types of non-sterilized commercial Makgeolli. These samples are classified according to firm size, enterprise Makgeolli(4 samples), prize-winning Makgeolli(6) and local Makgeolli(10). The alcohol contents of Makgeolli was determinded as follows: enterprise Makgeolli(6.18%), local Makgeolli(7.11%), and award-winning( 7.87%). Enterprise Makgeolli(0.24%) showed higher total acidity than award-winning and local Makgeolli(0.21%). In addition, pH levels were as follows: local Makgeolli(3.75), award-winning Makgeolli(3.77), and enterprise Makgeolli(4.09). Enterprise Makgeolli had the lowest sugar content. According to the sensory evaluation, three grades were identified based on balance and taste(5 points). The upper grade(more than 3 points) showed a higher pH, reducing sugar, higher aminoacidity, more soluble solids, and larger color differences than other grades. There were no significant differences in the level of acidity across the grades. The alcohol and volatile acid contents of the upper grade were lower than the middle(2.0-2.9 points) and lower(under 2.0 points) grades. Further research should provide a quality analysis of leavening agents and fermentation conditions, and a sensory evaluation.

A Study on the Production Informatization Strategy for Korean SMEs of Manufacturing Industries (II) - Customized Guideline for Introduction of Production Information System using Rule-base (중소 제조기업의 생산정보화(MES) 도입 전략에 관한 연구 (II) - 룰 베이스를 이용한 맞춤형 도입 가이드라인)

  • Joung, Youn-Kyoung;Zhao, Wen-Bin;Li, Quanri;Noh, Sang Do;Jo, Hyunjei;Jo, Yong Ju;Choi, Seog Ou
    • Journal of the Korean Society for Precision Engineering
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    • v.30 no.2
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    • pp.206-215
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    • 2013
  • In recent years, many companies have heavily invested in introducing production informatization systems in order to strengthen the competitiveness and to satisfy consumer's desires in quickly changing market environment. However, it is not effective due to the lack of understanding of systems and of non-existence of an optimal system for each company. Therefore, in this paper, manufacturing companies were classified according to its properties; size of the firm, type of business, production method and job production. After that, a model has been built to calculate the production informatization level, and it has been applied to 450 companies. Results of 450 surveys would be the base for figuring out strategies of introducing the production informatization to the companies which are wishing to build production informatization systems. Finally, Developed in this paper rule base system refer customized guideline to company that wants to adapt production information system.

Comparative behaviour of stiffened and unstiffened welded tubular joints of offshore platforms

  • Thandavamoorthy, T.S.
    • Steel and Composite Structures
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    • v.3 no.5
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    • pp.321-331
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    • 2003
  • The paper presents the results of an experimental investigation conducted on welded tubular joints, that are employed in offshore platforms, to study the behaviour and strength of these joints under axial brace compression loading. The geometrical configuration of the joints tested were T and Y. The nominal diameter of the chord and brace members of the joint were 324 and 219 mm respectively. The chord thickness was 12 mm and the brace 8 mm. The tested joints are approximately quarter size when compared to the largest joints in the platforms built in a shallow water depth of 80 m in the Bombay High field. Some of the joints were actually fabricated by a leading offshore agency which firm is directly involved in the fabrication of prototype structures. Strength of the internally ring-stiffened joints was found to be almost twice that of the unstiffened joints of the same configuration and dimensions. Bending of the chord as a whole was observed to be the predominant mode of deformation of the internally ring-stiffened joints in contrast to ovaling and punching shear of the unstiffened joints. It was observed in this investigation that unstiffened joint was stiffer in ovaling mode than in bending and that midspan deflection of unstiffened joint was insignificant when compared to that of the internally ring stiffened joint. The measured midspan deflection of the unstiffened joint in this investigation and its relation with the applied axial load compares very well with that predicted for the brace axial displacement by energy method published in the literature. A comparison of the measured deflection and ovaling of the unstiffened joint was made with that published by the author elsewhere in which numerical prediction of both quantities have been made using ANSYS software package. The agreement was found to be quite good.