• Management & Information Systems Review
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• v.32 no.1
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• pp.63-85
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• 2013

This study tries to investigate the fundamental implications inherent in inventory asset information(specifically, unexpected inventory investment) by analyzing how the relationship between unexpected inventory investment and future operating performance. And we study how is the response of the stock market participants to the fundamental implications inherent in inventory asset information. Prior papers often assume the efficient market and they view the significant relation between stock prices and financial indicators as evidence of the contribution of such indicators to future earnings. Leading indicators are attracting the market's attention for equity valuation. We study whether one leading indicator (unexpected Inventories) forecasts future earnings, and whether market participants fully reflect the predictive ability when they sets share prices(Mishkin test, 1983). Our empirical results of the study are summarized as follows. Current unexpected inventory investment is negatively associated with future operating performance. Also, our evidence is that the stock market participants overprice the contribution of unexpected inventory investment when predicting future earnings. Furthermore, a hedge strategy that uses the overpricing gives significant future abnormal returns. The overall results help the users of financial reports, researchers of accounting, and the accounting principle setting body.

• Journal of Korean Institute of Industrial Engineers
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• v.21 no.3
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• pp.299-311
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• 1995

Conventional discounted cash flow techniques fail to capture the risk associated with investments. This paper proposes an annual cash flow model that considers risk, cost structure and inventory liquidation in the evaluation of investment alternatives. The risk differential of investments is included using the capital asset pricing model while the stochastic version of the cost-volume-profit approach is used to consider inventory liquidation and cost structure. Tradeoffs between fixed and variable costs have been investigated, and portrayed using iso-cash flow curves. The proposed cash flow model has been developed, in particular, to enable an accurate evaluation of advanced manufacturing systems.

• Journal of Fashion Business
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• v.16 no.2
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• pp.12-26
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• 2012

Fashion industry characteristically goes through many steps to manufacture and to retail apparel products. Complex inter-industry channels with many intermediaries in fashion industry provoked many problems regarding recognizing customer's need, delivering time, flexibility, and inventory control. Therefore, the purposes of this study were to investigate the differences between apparel manufacturing and distribution process in SCM success factors and performances, and to investigate how SCM success factors affect on performances. Questionnaire was developed and distributed to apparel industry. The returned 116 questionnaires were analyzed by Cronbach's alpha for internal validity, factor analysis, t-test, and regression analysis with SPSS14.0. The results of this study were as follows: There was significant difference of SCM success factors between apparel manufacturing and distribution regarding process standardization and integration. There were significant differences of SCM performances such as reaction for customer, flexible management, cost minimization, and maximized asset utilization which distribution was higher than apparel manufacturing process. In apparel manufacturing, SC strategic relation, and integrative management influenced upon reaction for customer of SCM performances. SC integrative management influenced upon cost minimization. SC integrative management influenced upon maximized asset utilization. In distribution, SC strategic relation, and activated support for SCM influenced upon reaction for customer of SCM performances. SCM specialization, credible relationship among supply chains, activated support for SCM, and SC integrative management influenced upon cost minimization. SCM specialization, credible relationship among supply chains, and SC integrative management influenced upon maximized asset utilization.

• The Research Journal of the Costume Culture
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• v.17 no.1
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• pp.177-188
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• 2009

SCM as the important marketing strategy enhance the firm's efficiency and compatibility in global market environment such as global outsourcing. Firms adopted SCM realized the need to evaluate precisely the performance of SCM. In spite of importance of SCM, there was not much intention and research to measure SCM performance in textile fashion industry. Therefore, the purpose of this case study was to measure performance of supply chain management in textile fashion business using BSC(Balanced Score Card) to measure not only financial perspective but also non-financial perspectives such as customer perspective, internal business perspectives, financial perspective, and innovation & learning perspective. The questionnaire developed by the reviews of the literature was adopted for this study. The results of this study showed that SCM performance was enhanced from the point of customer perspective(cost, quality, time, service), financial perspective(cash cycle time, inventory turn over, inventory obsolescence, return on asset, return on investment, capacity utilization), and innovation & learning perspective(cost for human resource management, service for human resources). But there was same performance level regarding internal business perspective(lead time, cost for manufacturing process, product quality control, productive flexibility for time, quantity, and variety). Therefore, we should keep close relationship and two way communication among supply chain members to promote better SCM performance.

• Journal of the Korean Association of Geographic Information Studies
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• v.17 no.1
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• pp.144-158
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• 2014

This research presented a conceptual design of damage assessment inventory for efficient response to natural disaster damage of infrastructure close to the river. It consists of classification and categorization of facilities for accomplishing the conceptual design of inventory for damage of infrastructure close to the river. However, there are arising problems of efficient management on disaster, such as poor management of data facilities and constructions which is managed by the different types of government departments. Therefore, this research presented conceptual models of damage assessment inventory on risks of damage infrastructure close to the river using the United states' HAZUS-MH to analyze damage facilities, type of asset classification, classification of domestic facilities and guidelines for computing the value of assets. Conceptual models of inventory this research presented is to be used on the data for damage response on protected inland damage assessment and to increase efficiency for evaluating detailed damage amount of private property by natural disaster and to establish a restoration plan.

• Journal of Korean Society for Geospatial Information Science
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• v.19 no.4
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• pp.71-80
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• 2011

A simple and an improved methods for the assessment of flood damage were used in previous studies, and the Multi-Dimensional Flood Damage Assessment (MD-FDA) has been applied since 2004 in Korea. This study evaluated flood damage of dam downstream using considering MD-FDA method based on GIS data. Firstly, flood water level with FLDWAV (Flood Wave routing) model was input into cross section layer based on enforcement drainage algorithm, water depth grid data were created through spatial calculation with DEM data. The value of asset of building and agricultural land according to local government was evaluated using building layer from digital map and agricultural land map from landcover map. Also, itemized flood damage was calculated by unit price to building shape, evaluated value of housewares to urban type, unit cost to crop, tangible and inventory asset of company connected with building, agricultural land, flooding depth layer. Flood damage in rainfall frequency of 200 year showed 1.19, 1.30 and 1.96 times to flood damage in rainfall frequency of 100 year, 50 year and 10 year respectively by flood damage analysis.

• Journal of the Society of Disaster Information
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• v.11 no.3
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• pp.436-445
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• 2015

A flood loss estimation toolbox was developed within GIS software. This toolbox is for anyone who is interested in the flood loss estimation, and uses data accessible to public. In particular, the loss estimation framework in the toolbox is distinct in that the inventory items are individually dealt with. The toolbox was applied to estimate the economic loss from a levee failure event in 2002. The estimated loss was a little larger than the reported value. The difference is probably due to the asset values and the damage functions for each inventory item, which have to be updated.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.739-748
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• 2020

The study aims to estimate the effect of current ratio (CR), current liability to inventory (CLI), total asset turnover (TAT), net profit margin (NPM), sales growth (SG), and company size (FS) on profit growth (PG). The research population was 18 companies in the Food and Beverage (F&B) sector listed on the Indonesia Stock Exchange (IDX) from 2014-2018. The data estimation method uses the common effect panel data regression model. The empirical findings show that the CR and CLI ratios have a negative effect on PG, while the TAT, NPM, and SG ratios have a positive effect. Company size is a factor that does not affect the growth of company profits. The results of the study imply that an increase in company profits can be achieved if the company operates efficiently and with low liquidity to encourage higher sales growth. The limitations of the research are as follows: first, this research considers only one type of industry, hence the results of this study would not be the same if applied to another type of industry. Second, the author observes profit growth by using the company's financial ratios and size and ignores other factors that may affect profit growth, for example, the number of employees, total net sales, and market capitalization.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.863-867
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• 2020

This study was conducted on financial data of 38 economic groups listed on Vietnam's stock market for the period 2009 - 2019 and it aims to provide an empirical evidence on the impact of working capital management policy on performance in all phases of the economic cycle of Vietnamese economic groups. The study uses FGLS estimation method with 2 dependent variables ROA, GOP, independent variables including INV, AR, AP, CCC, dummy variable representing different phases of the economic cycle, variables Control includes CAT, CR, LEV, SZ, GR. Research shows that the greater the level of investment by companies in liquid assets corresponding to a certain level of activity (shown by average days of inventory (INV), average days of collection. (AR), cash flow cycle (CCC)) the lower the rate of return on assets. The study also provides additional evidence of the negative effects of economic crisis on the performance of economic groups. The study also shows that the number of short-term asset cycles has a positive impact on operational efficiency, and the level of debt use has a negative impact on operational efficiency. This result implies that the managers of economic groups can increase the efficiency of businesses through a reasonable working capital policy.

• Journal of Korean Clinical Health Science
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• v.4 no.2
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• pp.582-592
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• 2016

Purpose. For more effective hospital management, it analyzes the trend through general characteristics, balance sheet, income statement, and financial ratio analysis, grasps the causes of the problems, and analyzes management of the hospital in order to use the result as baseline data for development of the hospital in the future. Methods. The collected data of 3 years from 2011 to 2013 about 3 tertiary hospitals in metropolitan cities from Alio (provider of public institution information; www.alio.go.kr), Health Insurance Review & Assessment Service (www.hira.or.kr), and the website of the Ministry of Health and Welfare (www.mw.go.kr) were analyzed and general characteristics, balance sheet, income statement, and financial ratio, analysis are used as data. Results & Conclusions. From the result of data analysis from 2011 to 2013, general characteristics, balance sheet, income statement, financial ratio analysis, and pie charts could lead to conclusions as follows. In the result of comprehensive analysis, the 3 tertiary hospitals showed increase of fixed expense due to extension of the buildings and so did the scale of fund and asset. Although medical revenue increased, the margin of increase for medical expense was greater than that of medical revenue, which consequently led to loss. In prediction for the 3 tertiary hospitals based on characteristics so far, it is expected to see improved revenue structure after building extension is completed, but it is necessary to exert management effort to maintain its optimal level by enhancement in stability of management and inventory turnover through management of inventories.