• 한국조리학회지
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• 제4권
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• pp.57-72
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• 1998

Now a days, people are interested in tourism and leisure activity more and because of the increase of pastime and disposable income as a result of current economic growth. The importance of service industry in getting more serious thereby food industry, especially fastfood, is becoming popular in Korea. Food industry in Korea has been showing high growth rate in both quantity and quality for 10 years and fastfood chains maintains radical growth with 50% being forecasted that they will make huge market in Korea. Therefore, fastfood industry seems to be promising industry which has high potentials. This rapid growth of fastfood industry has been solving a lot of problems such as insanitation, low nutrition, and bad service quality and its positive aspects which make revolutional changes in production and sales are emphasized because it made industrialization with innovative system. So various menu development and service marketing strategy are really need to manage chains for the situation in Korea. Thus, the competitiveness of fastfood clams is dependent on the location of restaurant and the quality of various products. If the marketing strategy for fastfood industry need to established. constant studies should be done to resolve these problems.

• 기술혁신연구
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• 제5권1호
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• pp.15-43
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• 1997

This paper investigates empirically the relationship between various business portfolio properties (particularly technological properties) and chaebol's performance using data on the 50largest chaebols in Korea. In addition to the traditional indexes to measure diversification such as entropy index, we calculated inter-industry technological similarity using R'||'&'||'D expenditure data by industry and 1990 Input-output Table in korea, and obtained chaebol-level technological relatedness and internal transaction proportion from chaebols' business profile, inter-inustry technological similarity and 1990 input-output table. We applied factor analysis on 13 business portfolio property indexes and showed that they could be grouped into 3 dimensions. diversification scope, inter-business relatedness and degree of vertical integration. In this paper, using 50 largest chaebols' financial data (1989-1994), we analyzed empirically the effect of business portfolio properties on ROS(Return On Sales) which is conventional index for firm performance and on TFP(Total Factor Productivity) growth which is a pure measure of firm performance. To utilize the advantage of panel data, FEM(Fixed Effect Model) and REM(Random Effect Model) were used. The empirical result shows that the entropy index as a measurement of inter-business relatedness in not significant but technological relatedness index is significant. OLS estimates on pooled data were considerably different from FEM or REM estimates on panel data. By introducing interaction effect among the three variables for business portfolio properties, we obtained three findings. First, only VI(Vertical integration) has a significant positive correlation with ROS. Second, when using TFP growth as an dependent variable, both TR(Technological Relatedness) and VI are significant and positively related to the dependent variable. Third, the interaction term between TR and VI is significant and negatively affects TFP growth, meaning that TR and VI are substitutes. These results suggest strategic directions on restructuring business portfolio. As VI is increased, chaebols will get more profit. A higher level of either TR or VI will increase TFP growth rate, but increase in both TR and VI will have a negative effect on TFP growth. To summarize, certain business portfolio properties such as VI and TR can be considered "resources" themselves since they can affect profit rate and productivity growth. VI and TR have a synergy effect of change in profit rate and productivity growth. VI increases ROS and productivity growth, while TR increases productivity growth representing a technological synergy effect.t.

• 멤브레인
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• 제1권1호
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• pp.1-4
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• 1991

Membrane technology has gained tremendous acceptance by industry in recent years. A long dormant period of laboratory research in academia and industry has evolved into a new era of commercial growth. The total sale of membranes is still modest compared to the major technologies, yet it is one of the fastest growing industries. This can be best illustrated by inspecting the market place. In 1990, the total sales of worldwide membranes was estimated to be approximately $ 1.6 billion with an annual increase rate of 15%. This means that the estimated total sales of membrane based industry is nearly $ 5 billion annually. Equally important evidence is an increase in research activities, as demonstrated by the explosion of publications and proliferation of membrane meetings. A number of research centers have sprung up around the world in addition to newly emerging membrane companies and membrane research groups eventually translated into some form of publication. As an example of the rapid growth in membrane research, the number of papers submitted to the Journal of Membrane Science alone was almost 2000 and the number of papers accepted was over 1300 in 1990.The worldwide membrane research expenditure in 1990 was estimated to be around $ 127 million consisting of $ 76 million(60%) by industry and $ 51 million by governments, which can be broken down to $11 million in the U.SA., $ 20 million in Japan, and $ 20 million in Europe.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.177-184
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• 2020

This paper analyzes factors affecting corporate investment decisions in economic groups listed on the Vietnam stock market. The panel data of the research sample includes 39 economic groups listed on the Vietnam stock market from 2009 to 2019. The Generalized Least Square (GLS) is employed to address econometric issues and to improve the accuracy of the regression coefficients. In this research, the investment rate is a dependent variable. Cash-flow (CF), Investment opportunities (ROA), Fixed capital intensity (FCI), Leverage (LEV), Sales growth (GR), Size (SZ), Business risk (RISK) are independent variables in the study. The model results show that cash flow and sales growth have the same impact on investment decisions of economic groups in Vietnam. In addition, investment opportunities have a negative impact on the capital investment decisions of economic groups. The remaining factors include fixed capital intensity, leverage, firm size, and business risks that have a weak and insignificant impact on capital investment decisions of economic groups in Vietnam. The findings of this article are useful for business administrators, and helping business managers make the right financial decisions. Besides, the research results are also meaningful to money management agencies. The authors recommend that the State Bank of Vietnam should maintain a sustainable monetary policy.

• 한국프랜차이즈경영연구
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• 제15권1호
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• pp.61-78
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• 2024

Purpose: Dining out at restaurants was limited during the COVID-19 period. In order to confirm the impact of COVID-19 on the chicken market, this study selected three chicken companies, Kyochon, BBQ, and BHC, and conducted financial statement analysis and regression analysis. Research design and methodology: Each company's financial statements were divided into before and after COVID-19, and the rate of change and financial ratio for each item were calculated to see if there were any significant changes, and the impact of COVID-19 on each company's sales was identified through regression analysis. Result: As a result of the study, the increase in sales and assets of each company continued, and the influence of COVID-19 could be confirmed through regression analysis. It can be inferred that COVID-19 indeed affected the expansion of the chicken market. Conclusion: Therefore, it was confirmed through this study that COVID-19 had a significant effect on the growth of the chicken market. While individual chicken small business owners are grappling with declining sales per outlet, the decline of commercial areas, and a surge in closures, the broader chicken franchise industry is witnessing a surge in demand and business expansion prompted by the pandemic.

• 품질경영학회지
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• 제50권3호
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• pp.349-371
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• 2022

Purpose: Compared to the rapid growth rate of the domestic automotive LED industry so far, the predictive analysis method for demand forecasting or market outlook was insufficient. Accordingly, product characteristics are analyzed through the life trend of LEDs for automotive exterior lamps and the relative strengths of p and q using the Bass model. Also, future demands are predicted. Methods: We used sales data of a leading company in domestic market of automotive LEDs. Considering the autocorrelation error term of this data, parameters m, p, and q were estimated through the modified estimation method of OLS and the NLS(Nonlinear Least Squares) method, and the optimal method was selected by comparing prediction error performance such as RMSE. Future annual demands and cumulative demands were predicted through the growth curve obtained from Bass-NLS model. In addition, various nonlinear growth curve models were applied to the data to compare the Bass-NLS model with potential market demand, and an optimal model was derived. Results: From the analysis, the parameter estimation results by Bass-NLS obtained m=1338.13, p=0.0026, q=0.3003. If the current trend continues, domestic automotive LED market is predicted to reach its maximum peak in 2021 and the maximum demand is $102.23M. Potential market demand was $1338.13M. In the nonlinear growth curve model analysis, the Gompertz model was selected as the optimal model, and the potential market size was $2864.018M. Conclusion: It is expected that the Bass-NLS method will be applied to LED sales data for automotive to find out the characteristics of the relative strength of q/p of products and to be used to predict current demand and future cumulative demand.

• 경영과정보연구
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• 제22권
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• pp.137-165
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• 2007

It seems high time to increase productivity by adopting e-business to overcome challenges posed by both external factors including the appreciation of Korean won, oil hikes and fierce global competition and domestic issues represented by disparities between large corporations and small and medium enterprises (SMEs), Seoul metropolitan and local cities, and export and domestic demand all of which weaken future growth engines in the Korean economy. The demands of the globalization era are for innovative changes in businessprocess and industrial structure aiming for creating new values. To this end, e-business is expected to play a core role in the sophistication of the Korean economy through new values and innovation. In order to examine business performance in e-business-adopting industries, this study analyzed the home shopping industry by closely looking into the financial ratios including the ratio of net profit to sales, the ratio of operation income to sales, the ratio of gross cost to sales cost, the ratio of gross cost to selling, general and administrative (SG&A) expense, and return of investment (ROI). This study, for best outcome, referred to corporate financial statements as a main resource to calculate financial ratios by utilizing Data Analysis, Retrieval and Transfer System (DART) of the Financial Supervisory Service, one of the Korea's financial supervisory authorities. First of all, the result of the trend analysis on the ratio of net profit to sales is as following. CJ Home Shopping has registered a remarkable increase in its ratio of net profit rate to sales since 2002 while its competitors find it hard to catch up with CJ's stunning performances. This is partly due to the efficient management compared to CJ's value of capital. Such significance, if the current trend continues, will make the front-runner assume the largest market share. On the other hand, GS Home Shopping, despite its best organized system and largest value of capital among others, lacks efficiency in management. Second of all, the result of the trend analysis on the ratio of operation income to sales is as following. Both CJ Home Shopping and GS Home Shopping have, until 2004, recorded similar growth trend. However, while CJ Home Shopping's operating income continued to increase in 2005, GS Home Shopping observed its operating income declining which resulted in the increasing income gap with CJ Home Shopping. While CJ Home Shopping with the largest market share in home shopping industryis engaged in aggressive marketing, GS Home Shopping due to its stability-driven management strategies falls behind CJ again in the ratio of operation income to sales in spite of its favorable management environment including its large capital. Companies in the Group B were established in the same year of 2001. NS Home Shopping was the first in the Group B to shift its loss to profit. Woori Home Shopping has continued to post operating loss for three consecutive years and finally was sold to Lotte Group in 2007, but since then, has registered a continuing increase in net income on sales. Third of all, the result of the trend analysis on the ratio of gross cost to sales cost is as following. Since home shopping falls into sales business, its cost of sales is much lower than that of other types of business such as manufacturing industry. Since 2002 in gross costs including cost of sales, SG&A expense, and non-operating expense, cost of sales turned out to have remarkably decreased. Group B has also posted a notable decline in the same sector since 2002. Fourth of all, the result of the trend analysis on the ratio of gross cost to SG&A expense is as following. Due to its unique characteristics, the home shopping industry usually posts ahigh ratio of SG&A expense. However, more than 80% of SG&A expense means the result of lax management and at the same time, a sharp lower net income on sales than other industries. Last but not least, the result of the trend analysis on ROI is as following. As for CJ Home Shopping, the curve of ROI looks similar to that of its investment on fixed assets. As it turned out, the company's ratio of fixed assets to operating income skyrocketed in 2004 and 2005. As far as GS Home Shopping is concerned, its fixed assets are not as much as that of CJ Home Shopping. Consequently, competition in the home shopping industry, at the moment, is among CJ, GS, Hyundai, NS and Woori Home Shoppings, and all of them need to more thoroughly manage their costs. In order for the late-comers of Group B and other home shopping companies to advance further, the current lax management should be reformed particularly on their SG&A expense sector. Provided that the total sales volume in the Internet shopping sector is projected to grow over 20 trillion won by the year 2010, it is concluded that all the participants in the home shopping industry should put strategies on efficient management on costs and expenses as their top priority rather than increase revenues, if they hope to grow even further after 2007.

• 한국경영과학회:학술대회논문집
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• 한국경영과학회 2000년도 추계학술대회 및 정기총회
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• pp.255-258
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• 2000

Technology development strategy factors which are summarized as technology's integration, technology's rotation, and technology's receptiveness are generated by technology development variables through survey of new technology-based firm of IT industry. They have the significant influence on management performance such as Net Sales Growth Rate, ROA and ROI.

• 경영과학
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• 제31권3호
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• pp.1-12
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• 2014

This study suggests the two types DEA models such as DEA CCR model and Super Efficiency model to evaluate the value of a company and to apply them for the investments. 14 kinds of real data of companies such as EV/EBITDA, EPS growth rate, PCR, PER, dividend yield, PBR, stock price/net current asset, debt ratio, current ratio, ROE, operating margin, inventory turnover, accounts receivable turnover, and sales growth ratio were used as input variables of DEA models. 12 year data from December 30, 2000 up to December 30, 2012 were collected, and the data with negative, missing and 0 values were removed reflecting the characteristics of the DEA. In order to verify the effectiveness of the models, we compared the historical variability and rate of return of both models those of the market. Study results are as follows. First, two DEA models are more stable than market in terms of rate of return because the historical variability of both models are less than that of market. Second, Super Efficiency model is more stable than CCR model. Lastly, the cumulative rate of return of Super Efficiency model (434%) is greater than that of the CCR model (420%) and that of the market (269%).

• 중소기업연구
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• 제42권3호
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• pp.123-144
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• 2020

기술 기반 신생기업들은 창업 초기부터 세계화를 추구함으로써 경쟁력을 확보하려는 BGF전략을 추구하는 현상은 기존 국제화 이론으로는 설명하기 어려운 현상으로 태생적 글로벌 기업(BGF 또는 BGV)에 대한 새로운 접근법이 적용되고 있다. 그러나 BGF에 대한 대부분의 연구는 세계화 전략의 선행 요소)에 초점을 맞추고 있어 기업 재무성과에 어떤 영향을 미치는가에 대한 연구는 적으며 기존의 연구 결과의 일관성도 없는 상황이다. 이러한 차이는 BGF에 대한 정의의 문제와 연구 방법과 연구 대상에 의한 결과이며 특히 기업의 재무적 성과에 대한 측정의 타당성 부족에 기인한 것이다. 본 연구는 기존 연구의 한계를 극복하고 신속한 세계화 전략이 BGF의 성과(매출량, 투자수익률, 직원당 순이익, 매출증가율, 종업원당 순이익 증가율)에 어떤 영향을 미치는지 이해하기 위해 KIS-Value의 2차 자료를 활용하여 연구를 시도 하였다. 특히, BGF에 대한 정의를 기업이 설립 후 5년 내에 수출 집중도가 25%, 50%, 75%에 따른 수준별 구분에 따라 분석을 시도하였다. 본 연구의 결과는 첫째, 신속한 국제화 전략은 장·단기적으로 매출 효과는 있는 것으로 검증되었고 특히, 단기적인 효과가 장기적인 효과에 비하여 크게 나타났다. 그러나 BGF의 투자 수익률(ROI)에 대한 영향은 BGF수준이 엄격할수록 ROI에 대한 단기적인 영향은 있지만 장기적인 영향은 사라지는 것으로 나타났다. 셋째, 매출 성장률 성과는 BGF수준에 따라 단기적 효과가 있으나 ROI와 같이 장기적인 효과는 나타나지 않는다. 반면에 순이익 증가율은 BGF전략이 장기적으로는 부정적인(-) 효과가 있는 것으로 나타났다. 특히, 기업의 BGF 수준이 높을수록 순이익 증가율에 미치는 부정적인 영향은 더 크게 나타났다.