Journal of Korean Society for Quality Management (품질경영학회지)

Korean Society for Quality Management (한국품질경영학회)
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Financial Performance of "Excellent Quality Competitiveness Enterprise" Awarding Companies : Focusing on the Moderating Effect of Year

"품질경쟁력 우수기업" 수상기업의 재무성과에 관한 연구 : 연도의 조절효과를 중심으로

  • Lee, Hyeong Seok (Department of Business Administration, Kangwon National University) ;
  • Chung, Kyu Suk (Department of Business Administration, Kangwon National University)
  • 이형석 (강원대학교 대학원 경영학과) ;
  • 정규석 (강원대학교 경영학과)
  • Received : 2016.07.07
  • Accepted : 2016.07.27
  • Published : 2016.09.30
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Abstract

Purpose: The purpose of this study is to propose useful suggestions by analyzing difference of financial performance between "Excellent Quality Competitiveness Enterprise(EQCE)" awarding companies and all the manufacturing companies during the period 2003-2014 and by testing the moderating effects of performance year. Methods: This paper perform the longitudinal study during the period 2003-2014. The collected data through list of National Quality Award and financial report of CRETOP were analyzed using independent-sample t-test, paired-sample t-test, one way ANOVA and empirical analysis. Results: The results of this study are as follows; EQCE showed higher growth rate than all the companies until 2008, but profitability, stability, and activity are not significantly different between the both. Therefore EQCE have partial influences on growth rate among several financial performance measures until 2008. Since 2009 there are no differences. The effects of EQCE on financial performance are different by the year. Conclusion: EQCE award system was a meaningful promotion method to enhance good financial performance through encouraging quality management for the manufacturing companies until 2008, But since 2009 it is expected to lose its role as a promoting tool for quality management and performance excellence. Therefore new way of thinking for EQCE, as a national quality award system, is necessary; changing awarding system, award criteria, or etc.

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