• 산업경영시스템학회지
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• 제5권7호
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• pp.63-72
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• 1982

The objective of this study is review effective business reorganization measures for tackling financial difficulties for financial managers. The major cause of business failure is incompetent management. Business failure occurs when a company is unable to meet its current obligations, or the net worth of the company is negative : usually the signs of business failure are predictable in advance of its actual accurrence. Discriminant analysis as well as other analytical tools - profile analysis, dichotomous analysis, analysis of likelihood ratios - have been used to predict business failure on the basis of various financial ratios , among those, discriminant analysis has been tell known an excellent technique in predicting business failure. The first question to be raised is whether the business is better off, dead or alive. Assuming the decision is made that the firm should survive, reorganization procedure should be considered. The informal procedures of voluntary settlements used in reorganization are extension : composition and liquidation by voluntary agreement. Unless this settlement is possible by those means, the case goes to the courts for 1ega1 solution. If the court decides on reorganization rather than liquidation, it will appoint a trustee to control the firm for reorganization and to prepare a formal plan of reorganization. the plan must meet the stand of fair, equitable and feasible. In that case, the court will approve the plan.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.423-431
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• 2021

This study aims to examine the effect of liquidity, activity, leverage, and profitability on firm value, as well as the effect of disclosure of corporate social responsibility (CSR), which in this study is a moderator and company size as a control variable. The sampling technique used in this study is a purposive sampling method with certain criteria, to obtain a sample of 22 LQ45 index companies listed on the Indonesia Stock Exchange in 2014-2019. The data analysis method in this study used was the Multiple Linear Regression Analysis with the SPSS 18 Program. The results show that the ratios of liquidity, activity, leverage, and profitability are significant to firm value in accordance with the initial hypothesis of the study. Corporate Social Responsibility (CSR) plays a role as a moderating variable and company size variable as a control variable on the effect of financial ratios (liquidity, activity, leverage, and profitability) on firm value. The implication of this research is that CSR has a very important role in increasing company value. To attract more investors, companies must pay attention not only to financial performance but also to social performance. Large-scale companies tend to do more CSR so that the company value will increase.

• 한국경영과학회지
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• 제24권3호
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• pp.49-62
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• 1999

Artificial Neural Networks(ANN) have been successfully applied to various kinds of business and engineering problems, especially those involved in pattern classification. However, because of the lack of design standard or guidelines, the structure of specific ANN depends on the designer's own experiments or choices. In other words, even though we could construct a better ANN, we often steeled down with just a satisfactory ANN. The purpose of this research is to apply the Genetic Algorithm(GA) to design a structure of ANN that yields better performance compared to the existing test results. For a bankruptcy prediction problem. an exiting research using ANN which consists of 22 input processing elements(PEs) for financial ratios and 5 hidden PEs showed 70% hit ratio. In our research, the input financial ratios and the number of hidden PEs are determined by GA. The best ANN, which consists of 8 input PEs and 6 hidden PEs, shows 78.03% hit ratio. In addition, we compare the performance of two types of reproduction schemes, i.e., generational reproduction and steady-state reproduction.

• Asia pacific journal of information systems
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• 제9권1호
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• pp.39-58
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• 1999

This study examines whether expenditures in information technology (IT) are associated with increases in Tobin's q ratios, a measure of management performance, in the banking industry. The association between IT expenditures and Tobin's q ratios is different, depending upon the banks' size (national vs regional) and strategic orientation (wholesale vs retail), in the Korean commercial banks for the period studied 1990-1996, For national commercial banks which have more clients and electronic banking systems than regional banks, IT expenditures appear to increase Tobin's q ratios. This may indicate that IT is linked to the ability to achieve economies of scale or network effects when large banks use IT as a strategic tool. The association between IT expenditures and management performance measures is also positive and statistically significant for retail-oriented banks. This research makes two important practical contributions with respect to financial reform. First, the evidence suggested that Korean commercial banks need to apply IT strategy in conjunction with restructuring strategy to be a super-bank and, hence, reap substantial competitive advantage from IT applications. Second, since the government recently encouraged commercial banks to increase credit loans as a means of financial reform, most banks tend to focus on retail banking. IT used in the retail banking sector contributes to improve management performance as the evidence suggested.

• 가족자원경영과 정책
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• 제16권3호
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• pp.153-176
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• 2012

This study gives an account of the state of baby-boomer households in regard to assets and liabilities utilizing the 2006 Household Asset Survey and the 2011 Survey of Household Finances. Using the data gathered from each year, this study examined the proportion of households who had each type of asset and liability, and the amount of them. This study also compared the amount of assets and liabilities of baby-boomer households with those of non baby-boomer households in 2006 and 2011 respectively. Finally, this study examined the amount of change and composition ratio of assets and liabilities of baby-boomer households between 2006 and 2011. Selected financial ratios were also presented for both years. Major findings are as follows. The average asset amount for baby-boomer households was approximately 296 million in 2006 and 392 million in 2011. Of total assets, 78% and 76.5% were real assets in 2006 and 2011 respectively. The average financial assets of 2006 baby-boomer households were approximately 66 thousand and the average amount of debt was 42 thousand. For 2011 baby-boomer households, the average amount of financial assets was 92 thousand and the average amount of debt was 73 thousand. Results from the 2011 survey showed that baby-boomer households had a significantly higher proportion of total assets, total debt, and net worth than non baby-boomer households. The proportion of savings, saving insurance, stocks, and mutual funds were significantly higher for baby-boomer households than non baby-boomer households in 2011. In regard to financial ratios, the emergency fund index and debt burden index were appropriate to the guidelines of asset quality, although the propensity to investment indexes were not.

• 한국수산경영학회:학술대회논문집
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• 한국수산경영학회 2007년도 추계학술발표회 및 심포지엄
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• pp.167-184
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• 2007

The objectives of this paper are to identify the causes of the corporate distress and to develop a distress prediction model with the financial information in fishery industry. In this study, the corporate distress is defined as economic failure and technical insolvency. Economic failure occurs by reduction, shut-down, or change of the business and technical insolvency results from failure to pay the financial debt of companies. The 33 distressed firms from 1991 to 2003 were composed by 14 economic failure companies, 15 technical insolvency companies. 4 companies applied to the both cases. The analysis of distress prediction of fishery companies were accomplished according to the distress definition. The analysis was carried out as two steps. The first step was the univariate analysis, which was used for checking the prediction power of individual financial variable. The t-test is used to identify the differences in financial variables between the distressed group and the non-distressed group. The second step was to develop distress prediction model with logistic regression. The variables showed the significant difference in univariate analysis were selected as the prediction variables. The financial ratios, used in the logistic regression model, were selected by backward elimination method. To test stability of the distress prediction model, the whole sample was divided as three sub-samples, period 1(1990$\sim$1993), period 2(1994$\sim$1997), period 3(1998$\sim$2002). The final model built from whole sample appled each three sub-samples. The results of the logistic analysis were as follows. the growth, profitability, stability ratios showed the significant effect on the distress. the some different result was found in the sub-sample (economic failure and technical insolvency). The growth and the profitability were important to predict the economic failure. The profitability and the activity were important to predict technical insolvency. It means that profitability is the really important factor to the fishery companies.

• 수산경영론집
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• 제39권2호
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• pp.61-79
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• 2008

The objectives of this paper are to identify the causes of the corporate distress and to develop a distress prediction model with the financial information in fishery industry. In this study, the corporate distress is defined as economic failure and technical insolvency. Economic failure occurs by reduction, shut - down, or change of the business and technical insolvency results from failure to pay the financial debt of companies. The 33 distressed firms from 1991 to 2003 were composed by 14 economic failure companies, 15 technical insolvency companies. 4 companies applied to the both cases. The analysis of distress prediction of fishery companies were accomplished according to the distress definition. The analysis was carried out as two steps. The first step was the univariate analysis, which was used for checking the prediction power of individual financial variable. The t - test is used to identify the differences in financial variables between the distressed group and the non - distressed group. The second step was to develop distress prediction model with logistic regression. The variables showed the significant difference in univariate analysis were selected as the prediction variables. The financial ratios, used in the logistic regression model, were selected by backward elimination method. To test stability of the distress prediction model, the whole sample was divided as three sub-samples, period 1(1990 - 1993), period 2(1994 - 1997), period 3(1998 - 2002). The final model built from whole sample appled each three sub - samples. The results of the logistic analysis were as follows. the growth, profitability, stability ratios showed the significant effect on the distress. the some different result was found in the sub - sample (economic failure and technical insolvency). The growth and the profitability were important to predict the economic failure. The profitability and the activity were important to predict technical insolvency. It means that profitability is the really important factor to the fishery companies.

• 한국조리학회지
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• 제22권6호
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• pp.52-60
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• 2016

This study attempts to measure the financial performance of the food distribution company. In order to achieve the goal, this study have measured the ratios of ROE, ROA applying the DuPont analysis, which have been demonstrated with tables to show the change periodically. DuPont analysis is based on analysis of Return on Equity (ROE) & Return on Investment (ROI). The return on equity disaggregate performance into three components: Net Profit Margin, Total Asset Turnover, and the Equity Multiplier. The return on investment consists of Assets Turnover (Operating Income${\times}$Total Assets) and Profit Margin (EBIT${\times}$Operating Income). From the study it if found that Hyundae Green Food's Financial performance is high followed by Foodmerce and then Dongwon home food and Lotte Food. The four companies are significant at their level. In conclusion, ROE & ROI is the most comprehensive measure of profitability of a firm. It considers the operating and investing decisions can be made as well as the financing and their leverage-related decisions.

• 가족자원경영과 정책
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• 제3권1호
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• pp.67-82
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• 1999

The purpose of this study were to examine assets investment behavior of urban households and find the factors affecting it. The data were obtained from 442 households living in Seoul. The statistical techniques used for this study included descriptive statistecs, logistic regression, multiple regression. The major findings were as follows: First, The ownership of houehold assets were affected by age, education, total income, total income, total asset, the number of income source, income stability, the financial expectations, past financial experiences and the job of houehold head. Second, amount of household assets was affected by husband’s age, education, unearned income, total asset, income stability, the expectiation of future, the past financial experiences and the job of household head. Third, ratios of household assets were affected by age, education, unearned income, family size, the number of income source and the job of household head. The findings of this study can be used by financial counseling and planning practioners and education.

• The Journal of Asian Finance, Economics and Business
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• 제7권9호
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• pp.329-340
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• 2020

This study investigates the effect of capital structure on the financial performance of pharmaceutical enterprises which are listing on Vietnam's stock market. The study builds the regression using ROE as dependent variable and four independent variables, including self-financing, financial leverage, long-term asset and debt to assets ratios. In addition, we use other variables as controlling ones, such as firm size, fixed asset rate and growth. We collect data for the period from 2015 to 2019 of all 30 pharmaceutical enterprises which are currently listing on Vietnam's stock market. The least square regression (OLS) is used to test the effect of capital structure to the firms' financial performance. The analysis results show that the financial leverage ratio (LR), long-term asset ratio (LAR) and debt-to-assets ratio (DR) have positive relationship with firm performance, meanwhile the self-financing (E/C) affects negatively to the return on equity (ROE). Upon the findings we suggest that the Vietnamese government should focus on stabilizing macro environment to create favorable environment for enterprises. And the pharmaceutical enterprises should build more reasonable capital structure with higher debt proportion than equity, diversifying loan mobilization channels such as issuing long-term bonds. Additionally, the firms should expand the scale appropriately to maintain development and ability to pay debts.