• Title/Summary/Keyword: Investment-Turnover

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Case Studies on Preparing a Business Plan for the Foundation of Food Service Business and Analysis of Investing Economy. (외식사업 신규창업을 위한 사업계획서 작성방법 사례와 투자경제성 분석에 관한 연구)

  • 홍기운
    • Culinary science and hospitality research
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    • v.3
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    • pp.385-421
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    • 1997
  • This study was performed as placing stress on business plan preparation and investing economy analysis centered to cases upon presenting the premises of study for new foundation of food service business. The summarized results are as follows: 1. In the aspect of carrying out process of practical project, establishing the promotion strategy, the facility project program, the menu program, the facility and furniture program, organization & manning schedule, the business operation schedule, review of all laws & provisions and the allout promotion schedule in order were deployed. 2. Analysis of investing economy for review of profitability 1) In case of investment, excluding 600million for the real setate lease among the total investment of 1billion, it was required by 161, 235, 000 for interior project, 161, 110, 000 for facility & equipment, 19, 235, 000 for fittings, 27, 600, 000 for menu plate & uniform, 27, 600, 000 for furniture, 13, 800, 000 for sign article. 2) In case of loss & profit presumed the annual turnover is to be 1, 115, 856, 000 the contigent profit(before tax) is to be 148, 966, 000 which is 13.3% in comparson to the sales amount and the net profit(after tax) for this term s to be 104, 276, 000 which is 9.3% against the sales and the profitable ratio to the equity investment( 500 million) is 20.9% and it satisfies 20% of the premises of study. 3) In case of the payback period will be approximately two(2) years which indicated within three(3) years that is standard of new project evaluation term of ordinary enterprise. 4) In case of internal rate of return it will be 21.5% which is favorable profitability as taking into account of 15% that is standard of new project evaluation by ordinary enterprise based on general downtown money interest. That the investing value of Happy Day profitability is hinted as it is sufficient enough as the case under this study based upon such results and considered that securing supremacy is competitive power in case of commitment will be possible.

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An Analysis of the Financial Performance of Korean Medicine Hospitals in Korea: Focusing on Financial Ratios and Investment Efficiency (재무분석을 통한 한방병원의 경영성과 분석 - 재무비율 및 투자효율을 중심으로)

  • Choi, WonYoung;Lim, Byungmook
    • The Journal of Korean Medicine
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    • v.41 no.1
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    • pp.1-10
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    • 2020
  • Objectives: This study investigated the financial performance of Korean Medicine hospitals in Korea in order to understand the current status of hospital management and improve its efficiency. Methods: Financial statements of 24 medical corporations, 19 juridical foundations and 18 school hospitals from 2016 to 2018 were obtained from the secondary data published by the Health Insurance Review and Assessment Service, the National Tax Service and the Korea Advancing Schools Foundation. Financial performance was measured on 6 dimensions: liquidity, profitability, activity, growth, cost and productivity (investment efficiency) by analyzing 8 financial indicators: Liability to Total Assets, Net Profit to Patient Service Revenues, Total Assets Turnover, Growth Rate of Patient Service Revenues, Operating Expenses to Patient Service Revenues, Value Added to Patient Service Revenues, Value Added to Total Assets, and Value Added to Personnel Expenses. Results: Korean Medicine hospitals showed lower Liability to Total Assets, Liquidity and Value Added to Total Assets than Western Medicine hospitals did. They also showed higher Value Added to Patient Service Revenues and Value Added to Personnel Expenses than Western Medicine hospitals did. They also showed higher Value Added to Patient Service Revenues and Value Added to Personnel Expenses than those of Western Medicine hospitals do. The net profit decreased significantly (-50.8%) in 2018 whereas Patient Service Revenues increased (6.9%) for the same period due to Operating Expenses increase and Non-Operating loss. Conclusions: These findings suggest that the Korean Medicine hospital sector in Korea needs to improve liquidity and financial structure and to enhance profitability by reducing Personnel Expenses and generating Non-operating revenues in order to improve its investment efficiency and competitiveness.

An Empirical Study on Investment Performance using Properties of Realized Range-Based Volatility and Firm-Specific Volatility (실현범위변동성(RRV) 및 기업고유변동성의 속성과 투자성과 측정)

  • Byun, Youngtae
    • Management & Information Systems Review
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    • v.33 no.5
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    • pp.249-260
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    • 2014
  • This paper explores the relationship between firm-specific volatility and some firm characteristics such as size, the market-to-book ratio of equity, PER, PBR, PCR, PSR and turnover in KOSDAQ market. In addition, I investigate whether portfolios with difference to realized range-based volatility and firm-specific volatility have different investment performance using CAPM and FF-3 factor model. The main findings of this study can be summarized as follows. First, firm-specific volatility have mostly positive relationship between firm-specific volatility and some firm characteristics. Second, this study found that realized range-based volatility and firm-specific volatility are positively related to expected return. It means that portfolios with high idiosyncratic volatility have significantly higher expected return than portfolios with low firm-specific volatility.

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The Common Stock Investment Performance of Individual Investors in Korea (개인투자자의 주식투자 성과 분석)

  • Byun, Young-Hoon
    • The Korean Journal of Financial Management
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    • v.22 no.2
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    • pp.135-164
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    • 2005
  • We analyze trade and balance records of 10,000 stock investment accounts of individual investors for the period of 1998 to 2003. Individual investors em an annual gross return of 12.3% while the KOSPI and the value weighted composite including KOSDAQ stocks yield 13.6% and 9.7% respectively during the same period. Net return performance is 8.3%, a drop of 5.3% mainly due to heavy trading. Individual investors' annual turnover amounts to over 270 percent. In an analysis of groups formed on the month's end position value, the performance of the top quintile is found comparable to the market while the rest yield significantly lower risk-adjusted returns than the market. We also find evidence rejecting the rational expectation model while supporting the overconfidence hypothesis which states overconfidence leads to a higher level of trading, resulting in poor performance. Individuals tilt their stock investment toward high-beta, small, and value stocks.

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Human Resource Management in the Period of Ageing (고령화 시대의 인적자원관리방안)

  • Kwon Hyeok-Gi
    • Management & Information Systems Review
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    • v.18
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    • pp.1-19
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    • 2006
  • Ageing induces huge dramatic change of society and economy rather than simple change of population structure. Ageing causes the decrease of working age population and production capable population, thus this brings growth slowness and long-term stagnation. In addition, progress in ageing decreases saving rate, consequently low saving rate brings about the decrease of country-wide investment resources. This ageing problem which is progressive rapidly needs core competence and implementation of human resource professionals to overcome this kind of environment change. First of all, it needs turnover in thinking way toward talents. Secondly, we need innovation one team to pursue innovation and creativity. Thirdly, it should be considered in a new way with the number of workers and efficiency of personnel expenses. Fourthly, employees should make effort for self-advancement. Under the environment with newly change human resource personnels' function and role should be emphasized to maintain sustainable growth and overcome the change of management environment. Therefore, human resources should be emphasized to become competitive personnel and organization with leading the change master and creating the value of the organization.

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Analysis of BSC Adoption Effect by KOSPI listed Companies : Focus on Major Financial Ratios and Investment Scale (KOSPI 상장기업의 업종별 BSC 도입효과 분석 : 주요재무 비율 및 투자규모 중심으로)

  • Kim, Ju Eun
    • Korean Management Science Review
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    • v.34 no.3
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    • pp.15-41
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    • 2017
  • The purpose of this study is to analyze the effects of the BSCs of 642 firms excluding the financial and insurance companies listed on KOSPI. The analysis of financial performance through analysis of major financial ratios between BSC and non-BSC firms is compared with the input of human and material resources for business growth. We will promote the spread of BSC and examine the areas differentiated performance improvement. The analytical categories are manufacturing, service, wholesale and retail, and information and communications, which are 2,136 business years out of 2,378 final analytical samples. The results of the analysis are as follows. As a result of the analysis, among the four industries analyzed, the industries that showed the best performance were manufacturing. In the case of service industry, growth and activity were lower than those of non-adoption (NA) companies, but the operating margin was significantly different from manufacturing. However, market value was higher than that of NA companies, and R&D expenditures and advertising expenses were significantly higher than NA firms. On the other hand, there was no significant difference in profitability between the BSC and NA firms, but the market value was very significant. EPS is 5.22 times, BPS is 5.64 times, PBR is 1.3 times, and EVA is 35 times higher. In addition, R&D expenditure and advertising expenditure are more than twice as high as those of NA. In the case of the service industry, there is no significant difference in the growth performance from the NA firms. Activity indicators, BSC introduced companies are three times lower than both the total assets turnover and the capital turnover rate. The operating profit margin was high at 45.8% for introduced companies and 37.2% for non-introduced companies. In market value analysis, only BPS was 1.68 times higher. On the other hand, investment in welfare expenses is 0.2% of total assets, which is relatively low compared to NA firms. However, research and development expenses and advertising expenses are 2.1% and 1.02% of total assets, respectively, but they are relatively lower than those of NA firms. Unlike the manufacturing and service industries, wholesale and retail trade was significantly higher than the NA firms in terms of sales growth and total assets growth rate. In terms of market value, EPS and BPS were significantly higher, but the benefits, R&D expenditures, and advertising expenses were lower than those of NA firms. The information and communication industry showed lower level of performance than the NA firms in all indicators except cash liquidity, BPS, and EVA.

A Study on the Enterprise Value Analysis using AHP and Logit Regressions (AHP와 로짓회귀분석을 활용한 기업가치 분석방법)

  • Gu, Seung-Hwan;Shin, Tack-Hyun;Yuldashev, Zafar
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.16 no.9
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    • pp.5810-5818
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    • 2015
  • The dissertation presents the portfolio construction method using the score sheet so that general investors can utilize it easily. This study draws the significant variables to contribute the enterprise value and suggests the combined models by applying the single methodology, which private investors can easily utilize. The results of the research can be classified into 2 areas. Firstly, the significantly affecting variables were selected for analyzing the enterprise value. The variables and the method for the enterprise value analysis were studied from the existing researches to choose the optimal variables. The variables were identified by using AHP method and the structure equation method from the investigation of the previous researches. And the critical variables were added extracted from the common denominator of variables which the 3 grue investors used for their investment. The final variables identified are dividend yield, PER, PBR, PCR, EV/EBITDA, ROE, net income, sales growth rate, net current asset, debt ratio, current ratio, rate of operating profits, ratio of operating profit to net sales, ratio of net income to net sales, net profit to total assets, EPS growth rate, inventory turnover ratio, and receivables turnover. Second, the new methodologies for forecasting enterprise value modifying the existing methods were developed. The result of the Logistic regression analysis for forecasting showed that the equation could not be suitable as the accuracy with 91.98%.

A Study on the Productivity Measurement and Effect Factors of Management Evaluation in Public Firms with a Focus on the Port Authorities

  • Eom, Ki-Yong;Ahn, Ki-Myung
    • Journal of Navigation and Port Research
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    • v.44 no.5
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    • pp.400-406
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    • 2020
  • In this study, we first measured the malmquist productivity index by DEA among the Korean public firms. Second, there are 12 public corporations whose productivity (MPI) has decreased compared to 2014. This is mainly because of a decrease in productivity, as well as a decrease in the technical efficiency change index (TECI), impacted by the internal environment, and the increase in productivity because of an increase in the technology change index (TCI) impacted by the external environment. Finally, the analysis of the impact on the management assessment scores showed that the productivity (MPI), scale efficiency (CRS), size of sales, operating profitability, and total capital investment efficiency are significantly related (+), except for the asset turnover, which is a static financial ratio. Meanwhile, the management evaluation scores between the high-productivity public corporations and low-performing public corporations were significantly discriminating. Thus, it is confirmed that the nation's state-run companies must manage their MPIs in a time series to score high in management evaluation.

A Study on the New Management Strategies of the Trading Conglomerate in the 21st Century (21세기 종합상사의 신경영 전략에 관한 연구 -한(韓).일(日) 비교연구를 중심으로-)

  • Choi, Yong-Min
    • International Commerce and Information Review
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    • v.3 no.2
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    • pp.261-280
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    • 2001
  • From the IMF(International Monetary fund) crisis, the management conditions of the trading company which run business in world market, has rapidly changed. In particular, the trading conglomerate's competitive power have declined. This study, addressing such changes, intend to analyze what factors are that have generated this changes in trading conglomerate's environment. The study specifically takes it into account that the differences between Korea trading company and Japan's. This research was confirmed by data and field survey in two country. The results of research are summarized as follow. The Korean trading company are inferior to the Japanese trading company in total volume(Korea: 24.1, Japan 100), the benefit volume(Korea: 8.7, Japan 100), the stability of turnover(Korea: 36.6, Japan 100), the network power in foreign country(Korea: 19.2, Japan 100), the power of e-business(Korea: 17.0, Japan 100). But the debt ratio of Korea company is significantly lower than that of Japan's(Korea: 160.4%, Japan 940.5%). In conclusion, providing that the Korean trading company want to be a world-class champion in trading field, they have to introduce the new management strategies which means the high-profit base trading, the long term investment and the internet business.

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Effects of HACCP System Implementation on Domestic Livestock Product Plants

  • Baek, Seung-Hee;Kang, Soo-Cheol;Lee, Won-Cheol;Nam, In-Sik
    • Food Science of Animal Resources
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    • v.32 no.2
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    • pp.168-173
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    • 2012
  • The objective of this study was to investigate the problems and benefits associated with the implementation of HACCP on livestock product of plants in Korea. The survey was carried out by randomly selecting 115 HACCP accredited meat processing plants, all across the country. A total of 105 complete responses were selected for analysis. The results were as follows: approximately 60% of the respondents employed less than twenty workers. The average period of operating HACCP system was 3.4 years. The respondents replied that the major incentive to implement the HACCP system was to improve hygiene management ability. More than half of the respondents (59.05%) claimed that the implementation of the HACCP system cost less than 400 million won, and the highest investment in terms of cost was the freezer/refrigerator. In the preparation period taken to implement the HACCP system, the 6-12 mon category had the highest percentage (55.24%). Most respondents replied that there was an increase in the customer satisfaction, plant image and turnover, after HACCP implementation (p<0.05). A total of 98.09% of respondents had the opinion that their plant workers had improved in their understanding of food hygiene by HACCP implementation (p<0.05). Approximately 79% of respondents indicated that customer complaints decreased, as a result of HACCP implementation.