사물인터넷융복합논문지 (Journal of Internet of Things and Convergence)

한국사물인터넷학회 (The Korea Internet of Things Society)
권호 표지
DOI QR코드

DOI QR Code

코로나-19 이후 IoT 관련 기업의 회계정보와 주가에 관한 연구

A Study on Accounting Information and Stock Price of IoT-related Companies after COVID-19

  • 이상호 (목포대학교 스마트비즈니스학과) ;
  • 조광문 (목포대학교 전자상거래학과)
  • Lee, Sangho (Dept. of Smart Business, Mokpo National University) ;
  • Cho, Kwangmoon (Dept. of Electronic Commerce, Mokpo National University)
  • 투고 : 2021.12.20
  • 심사 : 2022.01.29
  • 발행 : 2022.02.28
PDF 다운로드
⟨ 이전 논문 다음 논문 ⟩

초록

본 연구는 IoT 관련 산업이 재무건전성을 확보하고, 코로나-19 종식 이후에 세계시장을 선점할 수 있는 기반을 마련하는데 목적이 있다. 이러한 연구를 통하여 IoT 관련 기업의 계량적 경영실태를 점검하였다. 또한, 주가변동과 관리종목 지정에 따른 재무비율의 관련성을 규명함으로써 기업의 부실에 선제적으로 대비하고자 하였다. 연구는 2019년부터 2020년까지 유가증권 시장에서 코스피와 코스닥에 상장되어 있는 502개의 기업으로 선정하였다. 통계분석 방법은 다중회귀분석, 차이분석, 로지스틱 회귀분석 등을 실시하였다. 연구 결과는 다음과 같다. 첫째, 코로나-19 이전과 이후에 따라 IoT 기업의 회계정보가 주가에 반영되는 영향력은 다르게 존재한다는 것을 알 수 있었다. 둘째, 코로나 이전과 이후에 따른 IoT 기업의 기말주가에서 차이가 있는 것으로 나타났다. 셋째, 코로나-19 이후에 주가변동에 따른 재무비율은 다르게 존재한다는 것을 알 수 있었다. 넷째, 코로나-19 이후에 관리종목 지정에 따른 재무비율은 다르게 존재한다는 것을 알 수 있었다. 이러한 연구결과를 통하여 IoT 기업의 재무건전성을 확보하고, 코로나-19 종식 이후에 세계시장으로 도약할 수 있는 기반을 마련하기 위한 몇 가지 제언을 하였다. 이러한 연구의 결과를 통하여 IoT 기업의 성장을 유도하고, 변화하는 금융시장에서 재무건전성을 담보할 수 있는 미래시대의 데카콘 기업으로 성장하는데 기여하길 기대한다.

The purpose of this study is to establish a foundation for IoT-related industries to secure financial soundness and to dominate the global market after COVID-19. Through this study, the quantitative management status of IoT-related companies was checked. It also was attempted to preemptively prepare for corporate insolvency by examining the relationship between financial ratios in accordance with stock price fluctuations and designation of management items. This study selected 502 companies that were listed on the KOSPI and KOSDAQ in the stock market from 2019 to 2020. For statistical analysis, multiple regression analysis, difference analysis and logistic regression analysis were performed. The research results are as follows. First, it was found that the impact of IoT company accounting information on stock prices differs depending on before and after COVID-19. Second, it was found that there is a difference in the closing stock prices of IoT companies before and after COVID-19. Third, it was found that financial ratios according to stock price fluctuations exist differently after COVID-19. Fourth, it was found that the financial ratios according to the designation of management items after COVID-19 exist differently. Through these studies, some suggestions were made to secure the financial soundness of IoT companies and to lay the groundwork for leaping into the global market after COVID-19. Through the results of this study, it is expected that it will lead the growth of IoT companies and contribute to growth as a decacorn company of the future that can guarantee financial soundness in the changing financial market.

키워드

참고문헌

  1. B.M.Lee, "Checking the Financial Soundness of Companies and Industries after COVID-19," Financial VIP Series, Vol.2020, No.11, pp.1-51, 2020.
  2. S.H.Lee and K.M.Cho, "A Study on the Structural Relationship between IoT Usage and Life Satisfaction Among University Students," Journal of The Korea Internet of Things Society, Vol.7, No.2, pp.55-63, 2021. https://doi.org/10.20465/KIOTS.2021.7.2.055
  3. KERI Economic Research Lab, "Differences between Major Economic Crises and Current Crises and Future Prospects," KERI Insight, Vol.20, No.4, pp.1-36, 2020.
  4. J.H.Jeong and H.G.Cho, "A Discriminant Analysis of the Financial Characteristics of Failed Saemaeul Funds," Journal of Industrial Economics and Business, Vol.21, No.5, pp.2015-2039, 2008.
  5. H.K.Kim and J.S.Baek, "Performance Evaluation and Forecasting Model for Financial Institution: A Study on Credit Union Institutions in Korea," Korean Journal of Financial Studies, Vol.41, No.1, pp.41-91, 2012.
  6. J.I.Kim, "A Study on the Correlation between the Stockholder Index and Exchange Rate Before and After Corona 19," The Journal of Professional Management, Vol.24, No.2, pp.111-123, 2021.
  7. M.Barth, W.Landsman and M.Lang, "International Accounting Standards and Accounting Quality," Journal of Accounting Research, Vol.46, No.3, pp.467-498, 2008. https://doi.org/10.1111/j.1475-679X.2008.00287.x
  8. H.G.Shin, "Value Relevance of IFRS's Fair Value Model of Land," Tax and Accounting Journal, Vol.9, No.3, pp.285-311, 2008.
  9. J.Y.Kim, "New GAAP and the Value-Relevance of Accounting Information: An Evidence from Korea," Accounting Information Research, Vol.28, No.3, pp.163-186, 2010.
  10. K.Choi, J.I.Park and S.H.Choi, "Research Articles: The Effect of IFRS Adoption on Accounting Quality and Economic Consequences: A Literature Review and Suggestions for Future Research," Korean Accounting Review, Vol.38, No.2, pp.525-591, 2013.
  11. C.P.Kook and W.H.Jeong, "A Study on Forecasting Corporate Default: Based on Stock Price Information," Asian Review of Financial Research, Vol.15, No.1, pp.217-250, 2002.
  12. P.S.Choi, "Estimating the Risk in the Banking Industry Using Equity Market Information," Financial Stability Studies, Vol.6, No.1, pp.1-34, 2005.
  13. H.A.Ashbaugh-Skaife, D.W.Collins and W.R.Kinney, The Discovery and Consequence of Internal Control Deficiencies Prior to SOX-Mandated Audits, Working Paper, University of Wisconsin-Madiso, 2005.
  14. J.T.Doyle, W.Ge and S.McVay, "Accruals Quality and Internal Control over Financial Reporting," The Accounting Review, Vol.82, No.5, pp.1141-1170, 2007. https://doi.org/10.2308/accr.2007.82.5.1141
  15. M.J.Kim, "Performance Comparison of Internal Accounting Control Assessment Models Applying Logistic Regression and Neural Networks," Korean International Accounting Review, Vol.46, pp.1-30, 2012.
  16. K.L.Choi and J.H.Sakong, "A Study on the Relationship between Stock's Performance and the Company's Performance: Focusing on KOSPI200," Journal of the Korean Data Analysis Society, Vol.13, No.6, pp.2935-2944, 2011.
  17. S.H.Kim, "The Effect of R&D Expenditures Accounting Method on the Future Stock Price Crash Risk," Korean Business Education Review, Vol.33, No.5, pp.39-58, 2018. https://doi.org/10.23839/kabe.2018.33.5.39
  18. H.D.Choi and J.W.Yoon, "The Effects of Distinguishing Venture Firms from Non-Venture Firms and the Length of Their Listings on the Kosdaq Stock Market on the Value Relevance of Accounting Information," Journal of Business Research, Vol.22, No.1, pp.149-174, 2007. https://doi.org/10.22903/JBR.2007.22.1.149
  19. M.S.Sim and Y.S.Kim, "A Study on the Change of Stock Index in the Shipping and Logistics Industry after COVID-19," Shipping Logistics Research, Vol.37, No.1, pp.71-90, 2021.
  20. Y.B.Cho and D.W.Kim, "Stock Price Volatilities of Airline From Infectious Disease: Before and After A(H1N1), MERS-CoV, COVID-19," Journal of the Korean Society for Aviation Management, Vol.18, No.5, pp.33-53, 2020.