• Journal of the Korean Data and Information Science Society
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• 제19권4호
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• pp.1073-1080
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• 2008

Reverse convertible fund is a method of investment assuring both profit and stability in an unstable stock market, and shares characteristics of a hedge fund and derivative securities. This study analyzes empirically whether reverse convertible funds can indeed serve as a new method in variable stock market environment to provide high profit with low risks especially in the Korean stock market.

• 보건의료산업학회지
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• 제14권2호
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• pp.15-27
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• 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.

• 수산경영론집
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• 제51권3호
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• pp.49-71
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• 2020

A fisher means any person employed to provide his/her labor in a fishing vessel in exchange for a wage. There is no concept of a fisher in Seafarers Act. This act shall not apply to seafarers who are in service on board a fishing vessel the gross tonnage of which is less than 20 tons. However, of the total 63,112 fishing vessels, only 2,829 fishing vessels have a total tonnage of more than 20 tons. Fishermen engaged in fishing vessels with a gross tonnage of which is less than 20 tons are not guaranteed to be paid arrears through the Wage Claim Guarantee Fund for Seafarer (Article 56). In addition, fishermen working on a fishing vessel are excluded from the Wage claim Guarantee Act. The Labor Standards Act shall apply to fishermen engaged in fishing vessels with a gross tonnage of which is less than 20 tons. Fishermen and seafarers are at a higher risk of living security than regular workers. Guaranteeing the payment of wages is essential for fishermen to improve the life and employment stability. In order to guarantee fisher wage claims, the concept of a fisher in the Seafarers Act must be realized by sources such as the Wage Claim Guarantee Fund of Ministry of Oceans and Fisheries, step by step expansion of members in the wage claim guarantee fund for seafarers and interest for delayed payment of wages, etc.

• 한국벤처창업학회:학술대회논문집
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• 한국벤처창업학회 2007년도 추계학술대회
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• pp.81-109
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• 2007

정책자금의 대출금리는 기준금리에 정책목적성 스프레드와 신용위험 스프레드를 합한 것으로 결정할 수 있다. 중진공의 중산기금 대출사업은 정책목적성 중심의 저금리 대출이라는 공공성에 치우쳐져 있기 때문에 기금의 안정성과 수익성은 크게 훼손되고 있다. 중산기금이 설치목적과 공익에 맞도록 운영되더라도 기금의 안정성과 수익성이 훼손되어서는 아니 된다. 결국 중산기금 중 대출사업 관리주체인 중진공은 대출금리 설정에 있어서 최소한 기금에 손실이 발생하지 않게끔 대출금리를 설정해야 한다. 이는 정부의 정책목적성 스프레드를 현재 부(-)에서 영(0)으로 바꾸어 나가야 함을 의미한다.

• 산업경영시스템학회지
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• 제22권50호
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• pp.105-125
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• 1999

The results of analysis on foreign exchange market, stock and financial market after January of 1997 are that foreign exchange market will be affected by stock and financial market volatility about 1999. This means that stock and financial market are more stable than foreign exchange market. This also is supported by ‘financial market forecast of 1999 in Daewoo Economic Research Institute’. After won/dollar (end of period) will be increasing in 1,430 at second quarter of 1999, this is to downward 1,200 fourth quarter of 1999. This is somewhat based on government's higher exchange rate policy. But, after yield of corporate bond is to 11.0% at first quarter of 1999, this will be stable to 10.2% at fourth quarter. During the first quarter of 1999, yield of corporate bond is to somewhat increasing through sovereign debt and public bonds, technical adjustment of interest rate. After this, yield of corporate bond will be stable according to stability of price, magnification of money supply, restucturing of firms. So, stock market is favorably affected by stability of financial market. But, the pension and fund of USA, i.e., long-term portfolio investment fund, are injected through international firm's management. It is included by openness of audit, fair market about foreign investors. Finally, Moody's strong rating on the won-denominated bonds suggest that Korea's sovereign debt ratings could be restored to an investment grade in the near future. It sequentially includes inflow of foreign portfolio investment fund, fall of won/dollar foreign exchange rate (appreciation of won) and stability of yield of corporate bond.

• 산업경영시스템학회지
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• 제21권48호
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• pp.133-144
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• 1998

International capital movement has made progress at global liberalization of finance and foreign exchange, international monetary norm changing into floating exchange rate system, easiness of collection of information and trade at improvement of information communication technology from early of 1970's. Results of empirical test for relation between foreign exchange rate or various determination factors of foreign exchange rate and interest rate are followed by next sentences. First, according to relation between foreign exchange rate and interest rate, correlation for each of variables after OECD entrance is increased. But, long-term & short-term interest rate is affected by Hanbo & Kia's bankruptcy, continuous large scale corporates bankruptcy and crisis of foreign exchange. Therefore, financial instability is occured. If portfolio investment fund has been inflow as it is mollified by continuous shortage of foreign exchange and fall of country's credit rating, it is expected to have positive effect for long-term & short-term interest rate from appreciation of won against dollar. Second, results from relation between determination factor of foreign exchange rate and interest rate are followed by next sentences. If surplus of current account and goods account is continued, yield of corporate bond is to be stable. But, margin of surplus is expected to diminish after second quarter 98, and difference between external and domestic interest (after adjusting foreign exchange rate) is to be diminished. And if net inflows of foreign investor's fund (stock and bond) is diminished, it is to have negative effect for yield of corporate bond. According to foreign investor's investment movement of previous years, hedge fund were stayed at least during two years in Mexico. It means that sudden capital outflow is not to be happened at Korea. But if external factors from depreciation of yen and China's renminbi are instable, interest rate is expected to increase from capital's outflows. Third, if it is to decrease instability of foreign exchange rate from increase in surplus of future current account, credit rating's upwardness, stability of yen and renminbi, foreign exchange rate is expected to be stable. It is expected to have continuous stability from short-term interest rate to long-term interest rate in this empirical test.

• 벤처창업연구
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• 제6권3호
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• pp.85-107
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• 2011

본 연구는 중소기업진흥공단으로부터 중소 벤처기업 정책자금 지원을 받은 중소 벤처기업의 수익성, 안정성, 활동성, 성장성 등 재무성과를 회귀분석 하였다. 1998년부터 2009년까지 중복 지원이 아닌 오직 1회에 한하여 지원받은 기업만을 대상으로 중소 벤처기업 정책자금을 지원받기 직전년도말 재무성과와 중소 벤처기업 정책자금을 지원받은 4년차 말 이후 재무성과를 회귀분석 하였다. 연구표본은 재무제표를 연속보유한 489개 업체 2,417개 재무제표이며, 재무성과 누계평균을 가지고 정책자금 효과와 그 인과관계를 분석하였다. 연구결과는 다음과 같다. 첫째, 정책자금을 지원받기 직전년도 말보다 정책자금을 지원 받은 4년차 말 이후 수익성, 안정성, 활동성, 성장성이 유의한 양(+)의 영향을 보여주고 있음을 발견하였다. 이는 정책자금 지원이 긍정적 재무성과를 가져오고 있음을 시사한다. 둘째, 성장성 지표인 총자산증가율은 매출액영업이익률에, 안정성 지표인 이자보상 비율은 총자산순이익률에 유의한 양(+)의 영향을 미치고 있음을 발견하였다. 이는 성장성 지표와 안정성 지표가 수익성에 영향을 미치므로 정책자금 지원이 이자를 보상할 여력을 증대시키는 등 재무건전성에 긍정적 영향을 미치고 있음을 시사한다. 셋째, 정책자금 지원방식, 정책자금 지원내용, 정책자금 지원규모, 업력, 종업원 수 등이 재무성과에 미치는 영향은 재무성과가 보여주는 종속변수에 따라 유의하게 나타나거나 유의하지 않게 나타났다. 이는 종속변수에 따라 유의성의 차이가 있음을 의미하며, 유의하지 않더라도 양(+)의 영향을 미친다는 일관성을 보여주고 있다.

• 한국벤처창업학회:학술대회논문집
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• 한국벤처창업학회 2007년도 추계학술대회
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• pp.327-352
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• 2007

본 연구에서는 고객만족을 높이기 위한 지출이 실제로 고객만족을 높이는데 기여하는지 그리고 고객만족이 기업의 재무적 성과에 미치는 영향을 분석하고자 하였다. 본 연구는 2003년부터 2006년까지 한국능률협회컨설팅의 고객만족도가 조사된 서비스업종을 대상으로 금융감독원의 재무자료를 이용할 수 있는 기업을 표본으로 선정하였다. 분석 결과, 고객만족을 위한 지출과 고객만족지수간의 다중회귀분석 결과 판매촉진비와 교육훈련비가 고객만족도와 유의적인 양의 상관관계를 보이고 있다. 고객만족지수와 재무적 성과의 주요변수간의 회귀분석을 실시한 바로는 고객만족지수가 기업의 재무적 성과에 전반적으로 유의적인 영향을 미치는 것으로 나타났다. 구체적으로 고객만족도가 매출액영업이익률, 매출액총이익률, 총자산이익률, 자기자본이익률과 유의적인 양의 상관관계가 나타난 것으로 분석되었다. 전체 창업기업의 약 70%가 서비스업종으로 고객관계가 특히 강조되는 특성을 갖고 있는 서비스업만을 대상으로 고객만족의 중요성을 점검해본 본 연구를 통해서 기업에서 고객만족도를 높이기 위해 이루어지는 지출로 인해 실제로 고객만족도가 높아지는지 확인할 수 있고 고객만족도를 높이기 위해서는 어떤 항목의 지출을 늘려야 하는지에 대한 답을 얻을 수 있을 것이다. 또한 다양한 재무적 성과측정치를 종속변수로 이용해봄으로써 고객만족과 가장 관련성이 높은 재무적 성과치가 무엇인지 밝힐 수 있다면 이는 기업이 고객만족경영의 성과를 평가할 때 어떤 재무적 성과측정치를 이용해야하는지에 대한 지침을 제공할 수 있을 것으로 본다.

• 대한안전경영과학회:학술대회논문집
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• 대한안전경영과학회 2002년도 추계학술대회
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• pp.305-319
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• 2002

International capital movement has made progress at global liberalization of finance and foreign exchange, international monetary norm changing into floating exchange rate system, easiness of collection of information and trade at improvement of information communication technology from early of 1970's. Results of empirical test for relation between foreign exchange rate or various determination factors of foreign exchange rate and interest rate are followed by next sentences. First, according to relation between foreign exchange rate and interest rate, correlation for each of variables after OECD entrance is increased. But, long-term ＆short-term interest rate is affected by Hanbo ＆ Kia's bankruptcy, continuous large scale coporates bankruptcy and crisis of foreign exchange. Therefore, financial instability is occured. If portfolio investment fund has been inflow as it is mollified by continuous shortage of foreign exchange and fall of country's credit rating, it is expected to have positive effect for long-term & short-term interest rate from appreciation of won against dollar. Second, results from relation between determination factor of foreign exchange rate and interest rate are followed by next sentences. If surplus of current account and goods account is continued, yield of corporate bond is to be stable. But, margin of surplus is expected to diminish after second quarter 98, and difference between external and domestic interest (after adjusting foreign exchange rate) is to be diminished. And if net inflows of foreign investor's fund (stock and bond) is diminished, it is to have negative effect for yield of corporate bond. According to foreign investor's investment movement of previous years, hedge md were stayed at least during two years in Mexico. It means that sudden capital outflow is not to be happened at Korea. But if external factors from depreciation of yen and China's renminbi are instable, interest rate is expected to increase from capital's outflows. Third, if it is to decrease instability of foreign exchange rate from increase in surplus of future current account, credit rating's upwardness, stability of yen and renminbi, foreign exchange rate is expected to be stable. It is expected to have continuous stability from short-term interest rate to long-term interest rate in this empirical test.

• 벤처창업연구
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• 제1권2호
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• pp.157-192
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• 2006

본 연구는 우리나라 벤처캐피탈 산업의 현황을 점검하고 활성화를 위한 방안을 제시하는데 그 목적이 있다. 벤처캐피탈 선진국인 미국의 사례를 도입해 실천하는 것도 우리나라의 시장상황을 우선 점검한 후 적용가능성을 철저하게 따져본 이후 결정해야 할 것이다. 다만 너무 다양한 문제를 구체적으로 다루다보면 복잡성해지며, 지나치게 거시적인 시각으로 보면 원론 수준에서 벗어나지 못할 가능성이 크다. 제시한 대안들은 사실상 새로운 내용이 아니며, 실무적으로도 필요성이 꾸준히 제기되어 온 문제들이다. 이제 실천의 문제를 생각해야 할 시점이다.