• 제목/요약/키워드: Annual Reports

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Small- and Medium-sized Firms' Internationalization and Performance during a Recession

  • KIM, Yong-Young;KIM, Young Ei;OH, Ka Young
    • The Journal of Asian Finance, Economics and Business
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    • 제7권9호
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    • pp.341-350
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    • 2020
  • This study aims to verify the relationship between overseas activities and performance of Korea's SMEs during the last financial crisis. Whether overseas activity performance of enterprises differed was determined based on characteristic variables, including the degree of concentration on R&D and marketing. This study also examined how SMEs' international transactions and their performance differed based on internal variable such as the level of stock holding and firm size. This study developed a model for analyzing the relationship between the level of internationalization and performance of Koran SMEs listed in the KOSDAQ. We used firm-level data, including annual reports and various data sources such as the KISVALUE program. To smooth annual fluctuations in accounting data, we used a three-year average from 2006 to 2009 for each variable in the study. The results showed that proactive overseas activities ultimately had a positive effect on an enterprise's performance, even though it initially had a negative effect. Therefore, enterprises should focus their capacity on R&D and marketing environment. Although numerous studies have focused on the relationship between overseas activities and performance of enterprises, the present study analyzed whether enterprises should continuously engage in overseas activities and what capacities they should strengthen during a global economic recession.

한국인의 식이섬유 섭취상태의 연차적 추이(1969~1990) (Annual Changes in the Estimated Dietary Fiber Intake of Korean During 1969~1990)

  • 이혜성
    • Journal of Nutrition and Health
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    • 제27권1호
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    • pp.59-69
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    • 1994
  • Dietary fiber(DF) intakes of Korean during 1969∼1990 were estimated and the major food sources of fiber were analyzed using the data from the Annual Reports of Korean National Nutrition Survey. The estimated daily DF intake of Korean has gradually decreased during the 22 years, from 24.46g in 1969 to 17.31g in 1990 with a remarkable decline in 1987. The average DF intakes of the rural population were higher than those fo urban's until 1980, but the situation was reversed until 1987 and the regional difference in DF consumption disappeared thereafter. Vegetables, cereals, grain and legumes were the major sources of fiber for Korean in recent 5 years(1986∼1990), providing 32%, 16% and 19% of DF intake respectively. Throughout the 22years, the intakes of DF from cereals and fresh vegetables have been reduced and those from processed vegetables, seaweeds and fruits has been increased. Df intake from legumes continuously increased until 1986, and it decreased thereafter. Rural population consumed more fiber from cereals than the urban's during the 1970s, but thereafter regional difference in cereal fiber intakes became insignificant. Urban population consumed more fiber from legumes and fruits than the rural's through the entire period. The results of this study indicate that the present DF intake of Korean is considerably lower than generally anticipated and is below the tentative recommended DF intake and thus higher DF intake than the present level is needed.

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Impact of Corporate Social Responsibility Disclosures on Bankruptcy Risk of Vietnamese Firms

  • NGUYEN, Soa La;PHAM, Cuong Duc;NGUYEN, Anh Huu;DINH, Hung The
    • The Journal of Asian Finance, Economics and Business
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    • 제7권5호
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    • pp.81-90
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    • 2020
  • This study investigates the nexus between the level of Corporate Social Responsibility Disclosures (CSRD) and Risk of Bankruptcy of companies that are listing in the Stock Exchanges of Vietnam. To investigate that relationship, this study collected secondary data from annual audited financial statements from 2014 to 2018 of listing companies. Applying two different regression models with two dependent variables and six independent and control variables, we find out that Vietnamese firms with higher level of CSRD performance can rapidly reduce their risk of bankruptcy. This phenomenon happens in the current year and in the coming years in all firms in the research sample. This result may be that the disclosures of social responsibility information can bring financial and non-financial benefits to the firms. In addition, the results also point out that there is a difference in risk of bankruptcy between the group of companies, which discloses and the one which does not disclose corporate social responsibility on their annual reports. This might be from the effects of various factors such as business size, financial leverage, market to book ratio, return on assets, cash flow from operations, etc. Our research results can be applied to other firms in Vietnam and in other similar jurisdictions.

Radioactive effluents released from Korean nuclear power plants and the resulting radiation doses to members of the public

  • Kong, Tae Young;Kim, Siyoung;Lee, Youngju;Son, Jung Kwon;Maeng, Sung Jun
    • Nuclear Engineering and Technology
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    • 제49권8호
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    • pp.1772-1777
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    • 2017
  • Korean nuclear power plants (NPPs) periodically evaluate the radioactive gaseous and liquid effluents released from power reactors to protect the public from radiation exposure. This paper provides a comprehensive overview of the release of radioactive effluents from Korean NPPs and the effects on the annual radiation doses to the public. The amounts of radioactive effluents released to the environment and the resulting radiation doses to members of the public living around NPPs were analyzed for the years 2011-2015 using the Korea Hydro & Nuclear Power Co., Ltd's annual summary reports of the assessment of radiological impact on the environment. The results show that tritium was the primary contributor to the activity in both gaseous and liquid effluents. The averages of effective doses to the public were approximately on the order of $10^{-3}mSv$ or $10^{-2}mSv$. Therefore, even though Korean NPPs discharged some radioactive materials into the environment, all effluents were within the regulatory safety limits and the resulting doses were much less than the dose limits.

1962년부터 1995년까지 한국인의 혈청콜레스테롤 농도와 콜레스테롤 섭취량의 연차적 변화 (Annual Changes in Cholesterol Intake and Serum Cholesterol Level of Korean from 1962 to 1995 Year)

  • 최용순;곽인신;이정애;이상영
    • 한국식품영양과학회지
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    • 제28권2호
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    • pp.484-491
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    • 1999
  • To estimate annual changes in age adjusted mean of serum cholesterol and cholesterol intake in Korea during the past years, data from 21 literatures regarding for serum cholesterol level of Korean or National Nutrition Survey Reports from 1962 to 1995 were extracted for this study. Age standardization for mean serum cholesterol level was adjusted being based on Korean population composition in 1995. Mean of Korean serum cholesterol level depicted an increasing tendency from 1962 to 1995. Magnitude of changes in mean of serum cholesterol was big in the age old groups over 60th decade, but sex difference in the pattern was not observed. The estimated mean cholesterol intake was higher in the urban population than those of rural's and it increased linearly from 1969 to 1995. Major food sources for cholesterol were egg(39.3%), anchovy(8.3%), seafoods(35.2%) meat(13%) in 1995. From the results, it was estimated that mean serum cholesterol and daily cholesterol intake of Korean would be 178 mg/dl and 278mg/day in 1995, respectively.

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High Spontaneous Resolution Rates of Severe Primary Vesicoureteral Reflux and Minimal Development of New Renal Scars

  • Cha, Jihei;Lee, Seung Joo
    • Childhood Kidney Diseases
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    • 제20권1호
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    • pp.18-22
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    • 2016
  • Purpose: The previous reports regarding VUR resolution were not precise due to early frequent surgical intervention. We evaluated the spontaneous resolution (SR) rate and the incidence of new renal scars in primary VUR, focusing on severe reflux. Methods: Medical records of 334 patients with primary VUR who were on medical prophylaxis without surgery for 1 to 9 years, were retrospectively reviewed. Medical prophylaxis was initiated with low-dose antibiotic prophylaxis or probiotics. Radioisotope cystourethrography was performed every 1 to 3 years until SR of reflux. New renal scar was evaluated with follow-up $^{99m}Tc$ DMSA renal scan. Results: The SR rates decreased as VUR grades were getting higher (P=0.00). The overall and annual SR were 58.4% and 14.9%/yr in grade IV reflux and 37.5% and 9.3%/yr in grade V reflux. The median times of SR were 38 months in grade IV reflux and 66 months in grade V reflux. The probable SR rates in grade IV and V reflux were 7.8% and 8.9% in the 1st year, 46.0% and 30.8% in the 3rd year and 74.4% and 64.4% in the 5th year. The incidences of new renal scars between low to moderate reflux and severe reflux showed no significant difference (P=0.32). Conclusion: The SR rates of severe primary VUR were higher than previously reported and most new renal scars were focal and mild.

The Impact of Operating Cash Flows on Financial Stability of Commercial Banks: Evidence from Pakistan

  • ELAHI, Mustahsan;AHMAD, Habib;SHAMAS UL HAQ, Muhammad;SALEEM, Ali
    • The Journal of Asian Finance, Economics and Business
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    • 제8권11호
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    • pp.223-234
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    • 2021
  • This study aims to examine whether operating cash flows influence banks' financial stability in Pakistan. The study employed annual panel data collected from annual reports of 20 commercial banks listed on the Pakistan Stock Exchange for the year 2011 to 2019. Free cash flow yield was taken as the dependent variable while cash flow ratio was selected as the independent variable, and net interest margin, income diversification, asset quality, financial leverage, the cost to income ratio, advance net of provisions to total assets ratio, capital ratio, financial performance, breakup value per share and bank size were taken as control variables. The study performed ordinary least square technique, random and fixed effects models, Hausman test, Lagrange multiplier test, descriptive and correlation analysis. Results showed that operating cash flows and net interest margin significantly and positively influenced banks' financial stability while the cost to income ratio and advances net of provisions to total assets ratio significantly and negatively associated with banks' financial stability. To improve financial stability, banks should become more cost-effective and enhance their liquidity levels by lowering lending activities. In the future, it would be useful to compare commercial and investment banks, also Islamic and conventional banks in the same research setting.

Influence of Ownership Structure on Voluntary Accounting Information Disclosure: Evidence from Top 100 Vietnamese Companies

  • TRAN, Quoc Thinh;NGUYEN, Ngoc Khanh Dung;LE, Xuan Thuy
    • The Journal of Asian Finance, Economics and Business
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    • 제8권1호
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    • pp.327-333
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    • 2021
  • Accounting information disclosure by enterprises is important for third-party entities (suppliers, creditors, banks, regulators, etc.). Voluntary accounting information disclosure (VAID) refers to additional information related to business activities shown on the annual report above and beyond the required information about business results and financial position as well as cash flow. This supports the stakeholders gaining useful information to make proper business decisions. The article examines the influence of ownership structure on the voluntary accounting information disclosure of the top 100 Vietnamese listed companies (VN100). Data collected by authors on regular annual reports totaled 425 observations from 2015 to 2019. The article uses OLS to test multivariate regression models with time-series data. The research results show that there are three variables affecting voluntary accounting information disclosure, of which foreign ownership and institution ownership have a positive impact, while concentration ownership has an opposite impact. Accordingly, the managers of VN100 should raise awareness in order to demonstrate the obligation of information providers to users to ensure clarity and completeness. The state agencies should encourage VN100 to enhance voluntary accounting information disclosure. This contributes to improve the information level of Vietnamese listed companies to embrace the trend of international economic integration.

Simultaneous Equations and Endogeneity in Corporate Finance: The Linkage between Institutional Ownership and Corporate Financial Performance

  • MALIK, Qaisar Ali;HUSSAIN, Shahzad;ULLAH, Naeem;WAHEED, Abdul;NAEEM, Muhammad;MANSOOR, Muhammad
    • The Journal of Asian Finance, Economics and Business
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    • 제8권3호
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    • pp.69-77
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    • 2021
  • The objective of this research is to explore the inconclusive theoretical and empirical association between institutional ownership and firm performance in the context of emerging Pakistani economy. The data set consists of all the non-financial firms listed on the Pakistan Stock Exchange (PSX). Annual data set covers the period ranging from 2010 to 2015. However, the econometric analysis does not include those firms with incomplete data. Thus the final data set comprised of an unbalanced panel of sample of 276 firms with 1231 firms years observations. Data related to the institutional ownership and other variables taken for the study were extracted through the annual financial reports of the firms. The research used Tobin's Q as a proxy of market measure of firm performance and tested the endogenous relation with institutional ownership through OLS and 2SLS approach. The study also applied Durbin-Wu-Hausman test to determine the endogeneity before analyzing the 2SLS model. The Durbin-Wu-Hausman Test (DWH) conform the endogenous link between institutional ownership and performance and vice versa. The results derived from 2SLS also confirm a highly significant relationship and two way direct proportional relationships between the institutional investment and corporate performance in the studied companies.

Recent Trend of Occupational Exposure to Ionizing Radiation in Korea, 2015-2019

  • Lim, Young Khi
    • Journal of Radiation Protection and Research
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    • 제46권4호
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    • pp.213-217
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    • 2021
  • Background: Radiation exposure can occur as a result of occupational activities utilizing sources of radiation. The average level of occupational exposure is generally similar to the global average, but some workers receive more than this. In this study, the occupational exposure data for workers in Korea to check the recent trend of radiation exposure. Materials and Methods: The data collection and analysis are carried out by two separate periods based on the United Nations Scientific Committee on the Effects of Atomic Radiation (UNSCEAR) survey. One is the year 2003 to 2014 for a recent survey, and the other is 2015 to 2019. All available data were collected by annual reports from radiation dose registry organizations. Results and Discussion: The annual dose over the record level to the total workers did not change much compared with the total increasing number of workers in this period. The dose to the nuclear fuel cycle field has a tendency to decrease. It resulted from the efforts of radiation dose reduction with high technology introduced to this area. Also, it is important result that the radiation dose to the workers in radiography is remarkably reduced. Conclusion: The number of radiation workers and average doses were analyzed for occupational categories in Korea. It still needs cooperative efforts between the dose registry organizations for the efficient dose management of Korean radiation workers.