• 동아시아경상학회지
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• 제7권4호
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• pp.41-49
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• 2019

Purpose - This paper empirically investigates what factors contribute to corporate investments under financial constraint condition in the Korean stock market. In the paper, tangible assets' growth rate and fixed assets' growth rate were employed as investment performance and total assets were also used for comparison purpose. Research design and methodology - Samples are constructed by manufacturing firms listed on the stock market of Korea as well as those who settle accounts in December from 2001 to 2018. Financial institutions are excluded from the sample as their accounting procedures, governance and regulations differ. This study adopted a fixed panel regression model to assess the sample construction including yearly and cross-sectional data. Results - This results support the literatures that major shareholders showed positive significance to investment in financially unconstrained firms and no significance to investment in financially constrained firms. ROA showed positive significance to investment in financially unconstrained and constrained firms, whereas firm size showed negative significance to investment in financially unconstrained and constrained firms. Debt showed no positive significance to investment in financially unconstrained firms and negative significance to investment in financially constrained firms. Conclusions - This paper documented evidence that ROA and firm size are important factors to investment irrespective of firms' financial constraints. And this paper also supports that major shareholders give positive impact to investments in financially unconstrained firms. This means that financial constraints itself rule corporate' investment decision in financially constrained firms.

• 한국정보과학회논문지:소프트웨어및응용
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• 제32권8호
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• pp.693-703
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• 2005

본 논문에서는 패턴 기반의 다수의 주가 예측 모델에 기반한 지역 투자자의 효율적인 결합을 통해, 거래 성능을 최대화 할 수 있는 동적 자산 할당 기법을 연구하였다. 각 예측 모델이 추천한 후보 종목에 효과적인 거래 대금 비율을 할당하는 메타 정책(meta policy)이라는 자산 할당 정책을 강화 학습 틀내에서 정의하였다. 이를 위해 각 예측 모델의 추천 종목 수와 전체 자산 대비 주식 자금 비율을 동시에 활용하는 상태 공간을 설계하였다. 대한민국 주식 시장에 대한 시뮬레이션 실험을 통해, 본 논문에서 제안한 자산 할당 정책은 기존의 고정 자산 할당 방법들에 비해 우수한 성능을 보임을 제시 하였다. 이는 강화학습을 통한 지역 투자자의 결합을 통해 의사 결정 문제에서 감독자 학습 기법으로 학습된 예측 모델의시너지 효과를 거둘 수 있음을 의미한다.

• 한국병원경영학회지
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• 제1권1호
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• pp.21-36
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• 1996

The purpose of this study is to evaluate the level of fixed assets management of the factors affecting its management level. The surveyed data were gathered from 105 general hospitals among 263 general hospitals nationwide. The level of fixed assets management was measured by 11 dimensions of assets management. The results were as follows : 1. According to general characteristics of hospitals, the management level of public hospitals and corporatized hospitals was better than that of private hospitals. The management level was better as increasing beds. 2. In the structural characteristics of assets management, the management level of the hospitals which had the responsible person for assets management was better than that of the hospitals which had not. 3. In the operating characteristics of assets management, the hospitals that conducted education for the job had better level of assets management that did not it. The hospital that the discard of assets was decided by engineering department or management department were better in management level than the hospitals that it was decided by user department. The management level of hospitals which were computerized for assets management was better. 4. In the full model, the most factors affecting the level of assets management were the factors that were characterized by operation pattern of assets management, and the operating characteristics of assets management were explained to 23.1% of total 45.7%. Conclusively, the level of assets management was mostly affected by the operating characteristics of assets management which were education for the job, discard decision not by user department, computerization for assets management. Therefore, hospitals perform education of the job, discard decision by engineering or management department, and computerization for better level of fixed assets management

• 한국전자거래학회:학술대회논문집
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• 한국전자거래학회 2005년도 종합학술대회
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• pp.78-84
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• 2005

As the research activities related to 'Ubiquitous Computing' whose concept was introduced by Mark Weiser are growing, RFID(Radio Frequency Identification) technology has recently gained attention as a technology to advance the ubiquitous computing and a lot of related researches are also in progress. Research works done so far are mainly linked to the situation that the research outputs apply to meet the requirements for asset tracking and data sharing with partners over supply chain by using fixed RFID readers. However, it is essential that users have access to real-time information about the tagged objects and services whenever and wherever they want in the era of ubiquitous computing, so mobile devices-including PDA, smart phone, cellular phone, etc - which are equipped with an RFID reader can be regarded as an essential terminal for users living in ubiquitous computing environment. As far as the application with mobile devices are concerned, there are many considerations due to their limited capabilities of data processing, battery consumption and so on. In this paper, we review the generic RFID network model and introduce the revised RFID network model in consideration of incorporation with mobile devices equipped with an RFID reader. Also, we derive the requirements for software embedded within an RFID- enabled mobile terminal and then discuss essential components for implementation. Moreover, we develop the applications for asset management at museum by using mobile RFID network model.

• 한국병원경영학회지
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• 제15권4호
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• pp.43-62
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• 2010

This study provides an evidence on the determinants of the profitability of university hospital by analyzing university hospital-level data set of hospital performance during the year 2007 (32 university hospitals in total). For the study, a multiple regression model is employed in which profitability index obtained from the DEA computations, operating margin to total asset and gross revenue are used as the dependent variables, and a number of hospital operating characteristics are chosen as the independent variables such as ownership type, location, bed size, period of establishment, bed occupancy rate, admission ratio of outpatients, patients per medical specialist, personnel cost per patient, liabilities to total assets, current ratio, fixed ratio, total asset turnover, medical assistance rate and public indicator. First, the results indicate that the bed occupancy rate and liabilities to total assets are positively and significantly associated with operating margin to total asset. Second, number of beds, the bed occupancy rate and number of patients per medical specialist are positively and significantly associated with operating margin to gross revenue. Third, the bed occupancy rate, number of patients per medical specialist, liabilities to total assets, total asset turnover are positively and significantly associated with profitability index revealed from DEA.

• The Journal of Asian Finance, Economics and Business
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• 제5권2호
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• pp.35-42
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• 2018

In recent decades, financial crises in various countries have often been preceded by the rise in non-performing loans (NPLs) in the banks' asset portfolios. The increase in NPLs is proven to have adverse impact on the banking sector so that understanding the determinant of NPLs is immensely crucial to ensure the efficiency and soundness of the overall economy. This study aims to shed light on bank-specific factors that affect loan default problems in developing countries whose banking sectors play a major role in the overall economy. This study analyzes panel data sets of 36 commercial banks listed in the Indonesian Stock Exchange during the period 2008-2015. Applying fixed-effects panel regression model reveals that Indonesian banks' profitability and credit growth negatively influence the number of NPLs. Moreover, banks with higher profitability are proven to have lower NPLs because they can afford adequate credit management practices. Likewise, banks with higher credit growth evidently have lower NPLs in the sense that they demonstrate more specialized lending activity and thus have better credit management systems. These findings imply that, in order to lower loan defaults that can deteriorate banks' asset quality, banks should maintain their level of profitability and increase, rather than decrease, their credit supply to debtors.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.801-808
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• 2020

The purpose of the study is to find the factors that influence the financial leverage of Vietnam firms. The dependent variable is the financial leverage and the independent variables are firm size, asset structure, liquidity, growth opportunities, profitability, and firm age. The data are collected from Vietnam firms' annual financial reports in the period from 2010 to 2019. The study uses a sample of 448 Vietnam listed firms in the period. We also employ a panel regression model with pooled OLS and fixed effect to analyze the firms' financial data. The results of the model showed that financial leverage (FL) has a negative relationship with some factors such as asset structure (AS), liquidity (LQ), growth opportunities (GRW), profitability (ROA), and firm age (AGE) in the fixed effect regression. It means that when liquidity, profitability, and firm age increase, firms' financial leverage will decrease. While firms' financial leverage has still a positive relationship with the firm size (SIZE) in the model. As a result, when firm size increases, financial leverage will increase, too. The results showed that models are fit for the research and can be used to predict future findings. It is also useful for enterprises, financial advisors, investors, as well as the financial managers.

• The Journal of Asian Finance, Economics and Business
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• 제9권2호
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• pp.169-175
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• 2022

Unexpected events, such as the COVID-19 pandemic, can occur at any time and have an influence on all countries. The COVID-19 pandemic has infected more than 200 nations, including Indonesia. As a result of this phenomenon, Indonesia's state revenue system will need to be adjusted. Therefore, the goal of this research is to see if there are any differences in taxation in Indonesia as a result of the COVID-19 incident. The data was collected using the base years of 2018, 2019, and 2020. The information came from the financial statements of companies in the industrial sector that are publicly traded on the Indonesian Stock Exchange (IDX). Purposive sampling was used, and there were 54 companies represented in the samples that met the criterion. In this study, the difference test was used as an analytical technique. According to the findings, there was no difference in the pattern of tax avoidance between pre-COVID-19 in 2019 and during the COVID-19 period in terms of leverage and fixed asset intensity. It occurred because the tax avoidance policy was implemented as a short-term fiscal strategy to ensure the company's existence. Finally, because these findings were restricted to the Indonesian environment, their generalizability was limited.

• 사회복지연구
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• 제49권4호
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• pp.195-220
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• 2018

본 연구는 청년 가구주의 자산수준이 삶의 만족도에 영향을 미치는지 분석하였고 우울감의 매개효과를 검증하였다. 또한 청년 가구주의 자산수준, 우울감, 그리고 삶의 만족도의 관계를 자산효과이론에 근거하여 설명하고 있다. 본 연구에서는 실증적 연구를 위해 한국복지패널(KOWEPS) 제7차(2012년)~11차(2016년) 자료를 이용하였고 고정효과모형을 적용한 패널회귀분석 및 Sobel-test를 실시하였다. 분석결과, 시간경과에 따라 청년 가구주의 자산수준이 높을수록 삶의 만족도가 높아지는 것으로 나타났고 청년 가구주의 자산수준은 우울감을 매개로 삶의 만족도에 영향을 미치는 것으로 나타났다. 이러한 연구결과를 통하여 우울감을 완화시키고 삶의 만족도를 높일 수 있는 청년층의 자산형성지원사업에 대해 논의하고 있다. 끝으로 청년층의 자산형성지원사업 확대 및 개선 방향을 언급하였고 청년층의 자산형성지원정책에 대한 제언 및 후속연구의 필요성을 제시하였다.

• 한국병원경영학회지
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• 제7권3호
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• pp.25-43
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• 2002

This study focuses on the factors that make the financing decision of private hospitals in Korea. Data used in this study were collected from 98 hospitals with complete general data of current status as well as financial statements. They were chosen from the 138 hospitals that passed the accreditation process by the Korean Hospital Association from 1996 to 2000 for the purpose of accrediting training hospitals. The dependent variables in this study consist of total liabilities to total assets, borrowings to total assets. The independent variables are ownership, hospital type, teaching status, location, bed size, period of establishment, asset structure, profitability, growth, tax shields, volatility of profit, competition(market concentration), and other factors. The major findings of this study are as follows. The factors found to have significant effect on liabilities to total assets are teaching status(-), asset structure(-), profitability(-), tax shields(+), and business risk(-). University hospitals have less liabilities than the non-university hospitals. It was also confirmed that high profitability, high fixed asset, high volatility of profit and low tax shields results in decrease in liabilities. The factors that significantly affect on borrowings to total assets are teaching status(-), period of establishment(-), volatility of profit(-) and competition(+).