• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.1
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• pp.221-230
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• 2021

In this study, a firm's internationalization level was measured as the ratio of foreign sales to total sales (FSTS) of individual firms. A demonstration was conducted with several control variables that affect the persistence of the firm's profits using the Sloan (1996) model as a proxy for its primary relationship between net profit and the next profit. An empirical analysis of the end-December settlement firms listed on the securities market from 2011 to 2016 was conducted using a fixed-effect model to confirm that the persistence of the firm's internationalization and accounting profits was positive at the 1% significant level, indicating that the persistence of the firm's profits also increased as the level of individual firm's internationalization increased. In addition, the firm size, financial soundness, cash accompanying, growth, and investment ability, consistent with forecasts, represented a statistically significant (+) relationship with globalization. These results suggest that firms can maintain and expand their value stably by securing new overseas markets and promoting growth by implementing internationalization strategies.

• The Journal of the Korea Contents Association
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• v.19 no.5
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• pp.280-286
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• 2019

This study first examines whether the matching principle reduces information asymmetry and verifies the effect on earnings sustainability and information asymmetry. In the presence of information asymmetry between managers and information users, managers can reduce information asymmetry by increasing the quality of earnings. Information asymmetry is measured by the financial analysts' earnings forecast variance. When we look at the results of previous studies, verify whether information asymmetry decreases as the response to the revenue cost increases and whether negative relationship between profit persistence and information asymmetry appears when the response to the revenue cost is high. As a result, firms with high revenue cost response showed a decrease in information asymmetry. The persistence of the earningss from the high earnings-cost response shows that the analysts' earnings forecast dispersion decreases. This means that the better the response to the revenue cost, the better the quality of the earnings and the less the information risk about the uncertainty of the enterprise. This study is different from the previous studies in that it analyzed whether the persistence of the earnings that responded to the high revenue cost reduces the information asymmetry. The results of this study suggest that managers can reduce the information asymmetry by carrying out appropriate revenue - cost responses, which provides important implications for stakeholders who use accounting earnings information.

• Journal of Digital Convergence
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• v.15 no.1
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• pp.129-141
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• 2017

This study analyzed and compared the accounting earnings quality after the adoption of K-IFRS, targeting the stock exchange-listed firms (KOSPI, KOSDAQ). The analysis first revealed that KOSPI had higher quality accruals, and better persistence and predictability of the reported earnings and cash flows, compared to KOSDAQ. Second, in both KOSPI and KOSDAQ, the predictability of future cash flow showed that the accounting earnings was better than the cash flows. Third, for the persistence and predictability of earnings associated with the degree of accruals, in KOSPI and KOSDAQ both all, groups with better accruals quality had greater persistence and predictability of earnings, and a better future cash flow predictability of accounting earnings.

• Industry Promotion Research
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• v.9 no.3
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• pp.1-11
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• 2024

At shareholders' meetings, minority shareholders are inferior in information to owners and majority shareholders, and they are often excluded from important decision-making. As a result, the rights and interests of minority shareholders are often damaged, which acts as a factor that hinders corporate value. The electronic voting system is expected to encourage minority shareholders to participate in management decision-making, which is expected to help increase corporate value. The results of the analysis in this study are summarized as follows. First, it was found that there was no difference between the earnings persistence of companies that introduced the electronic voting system and the earnings persistence of companies that did not. Second, we found no evidence that the introduction of the electronic voting system would increase the value of firms. Third, the effect of earnings persistence on corporate value of companies that adopted the electronic voting system was no different from that of firms that did not adopt it.

• Journal of Digital Convergence
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• v.19 no.11
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• pp.113-119
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• 2021

This study compared business performance and earnings quality before and after the COVID-19 pandemic for information and communication companies whose sales increased due to the impact of the COVID-19 pandemic. For this, 4 indicators of ROA, growth potential, liquidity, and stability are used for business performance, and for earnings quality, the standard deviation of the residuals measured by the Dechow and Dichev(2002) model and Francis et al.(2005) model was used. As a result of the analysis, ROA, a representative business performance indicator, increased after xthe period compared to the period before the pandemic, but liquidity was rather deteriorated. As for the quality of earnings, it was confirmed that earnings sustainability is maintained in the post-pandemic period compared to the previous period, similar to ROA. Overall, the profit level and earnings quality of information and communications companies seemed to be improving, while liquidity was deteriorating. This confirms that companies that have overcome the immediate crisis are not ready to pay off their debts right away. Therefore, it suggests that companies need restructuring to reduce their increased debt from the time the COVID-19 subsides.

• The Journal of Society for e-Business Studies
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• v.25 no.4
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• pp.155-168
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• 2020

Although many studies have been conducted on the impact of increasing social awareness of corporate social responsibility activities on financial and non-financial performances, the number of studies conducted by financial companies is relatively small compared to those conducted by non-financial companies such as manufacturing and service industries. Accordingly, this study explores the impact of corporate social responsibility activities on the Earnings Persistence of financial companies through a regression analysis that utilizes the conversion score of an ESG rating of a Korean listed company provided by the Korea Corporate Governance Service (KCGS) as a variable for the company's social responsibility activities. Through this analysis, the study found that, among the ESG scores that are variables of social responsibility activities, the ESG governance score was significant in the direction of (+) for the Earnings Persistence. In addition, the same study conducted by classifying the entire sample into six sub-industries shows that the ESG governance score in the banking industry was more significant compared to when the regression analysis was conducted on the entirety of the samples. Therefore, this study concludes that the soundness and reliability of corporate governance have a positive effect on Corporate Earnings Persistence.

• The Journal of the Convergence on Culture Technology
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• v.10 no.2
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• pp.333-341
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• 2024

So far, the rationality of management decisions has been limited to the economic rationality of maximizing self-interest. However, management rationality in the ESG era, which pursues the interests of the environment, society, and the company from the perspective of harmony and balance, requires new judgment standards. The goal of ESG management is sustainable development. Sustainable development goes beyond the accumulation of wealth, which was the goal of the past economy, and aims for the happiness of the entire society, including coexistence and fair development that develops together with the entire society. From Aristotle's perspective, the happiness of the entire society promoted by sustainable development is no different from the highest good of citizens, members of the community. Accordingly, this paper attempted to explore the new management rationality required for managers in the ESG era by comparing Aristotle's concept of citizenship with the concept of 'corporate citizenship', one of the main concepts of ESG management. Through this, we sought to show that companies are essentially communal entities and that the company's pursuit of profit requires rationality of balance and harmony with environmental and social interests.

• The Journal of the Korea Contents Association
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• v.16 no.2
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• pp.580-587
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• 2016

This paper examined the relationship among corporate cash flow, its accruals, and its factors with its continuity of profit and corporate value by regression analysis of KOSDAQ based midsize manufacturing enterprises for 11 years from 2004 to 2014 year. Through this empirical analyze, corporate operators can have a chance to find opportunities to improve the efficiency of business operations, and to the potential investors, it can give the perspective through providing the basic information for the rational investment decisions. Through this analysis, its cash flow, accruals and its factors showed continually a significant relationship with its corporate operating profits and its market values. Thought out the relation analysis, its cash flow, its accurals and the factors of the accruals, account receivables, inventories affected the positive(+) impact on its business profits. But, its account payables affected negative(-) impact on its business profit. The other hand, the cash flow from operating activities and accruals related to capitalization of assets and liabilities fluctuations affected a positive(+) effect on the company market value.

• Agrochemical news magazine
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• v.23 no.5 s.178
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• pp.14-17
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• 2002

• 프린팅코리아
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• v.12 no.5
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• pp.120-123
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• 2013

미국에서도 인쇄산업의 성장은 정체돼 있다. 아니 인쇄물량의 지속적인 감소를 경험하는 가운데 성공적인 사업을 운영하기 위한 다양한 방법이 모색되고 있다. 사업의 성공에는 많은 조건이 있지만 이익을 늘리고 생산성을 높일 수 있는 기업 시스템과 인력의 재배치가 가장 중요한 이슈라는 것에는 의심의 여지가 없다. 또한 현재 인쇄산업이 처한 현실에서는 인쇄작업단가와 경상이익률이 점차 감소하며, 기업의 자본도 잠식되는 게 사실이다. 이를 타개하기 위한 방법으로 보다 효율적인 수익성 제고가 요구된다. 미국의 인쇄산업에서 좋은 인재를 채용하고 수익성을 제고하는 것에 대한 관심이 커가는 이유다.