• Management & Information Systems Review
• /
• v.38 no.4
• /
• pp.25-39
• /
• 2019

The purpose of this study is to analyze the management performance of hospitals by analyzing the ratio of stability, profitability ratio, and growth rate through the financial ratios of medical institutions using accounting information disclosure data of medical institutions, financial status table and profit and loss statement. The main goal is to analyze and analyze financial statements of medical institutions' accounting information in 2016 and 2017, analyze the difference and analyze the general characteristics and financial ratios by type, type and size of medical institutions, The financial characteristics of medical institutions were identified. The ratio of stability, profitability, and growth rate through financial ratios were compared and analyzed. In addition, we analyzed the correlation between the medical profit margin, the total asset profit margin, the medical profit margin rate, and the net profit margin of the medical institutions through the financial ratios of accounting information disclosure data of medical institutions. The main results are as follows: First, the size of the hospital and the size of the debt through the change of assets, liabilities and capital of the financial statement are increasing, the size of own capital is relatively decreased, and the management performance is getting worse It is showing. Second, the increase in average medical revenues in the income statement is small, and the average increase in net profit is small. Thus, medical institutions were able to confirm the difficulty in creating profits through medical activities. In addition, there was a large difference in the debt ratio, the stability ratio, and the profitability ratio of the general hospitals and the general hospitals according to the types of medical institutions, and the difference in the average financial ratios of national and public hospitals, school corporation hospitals, I could confirm. The correlation between independent variables in the correlation was -0.904 between the capital ratio and the total assets turnover ratio, -0.800 between the labor cost ratio and the hospital income ratio, and -0.631 between the labor cost ratio and the foreign profit ratio. In order to improve the management deterioration of hospitals by using accounting information disclosure data of medical institutions, it is necessary to have a large effect on the net profit margin of the medical care and the net profit margin of the total assets.

• Journal of the Korean Institute of Traditional Landscape Architecture
• /
• v.33 no.3
• /
• pp.16-37
• /
• 2015

As a result of analyzing the forming and the transformations of Seokjojeon Hall garden by linking it to the changes of Deoksugung Palace influenced by the social atmosphere, the Seokjojeon garden can be classified into four phases. The first phase starts from 1896 to 1914. Gyeongungung was built in the late 19th century(1896-1897) as an official palace and Junghwajeon Hall and Seokjojeon Hall was built for Gojong. J.M.Brown was in charge of the construction of Seokjojeon in the beginning but H.W.Davidson saw the end also set up the garden. In the process of forming the garden the incorporating of Dondeokjeon Hall and the demolishing of the west wing corridors of Junghwajeon Hall occurred. At this phase of the garden a statue of an eagle was put up in the garden but was soon taken down. The shape of the garden was quiet simple with a central axial pathway, a round assorted flower bed placed in front of Seokjojeon Hall. The second phase starts from 1915 to 1932 which lasted for 17 years. At the last years of the Great Han Empire the duties of Gungnaebu(宮內府) was transferred to Leewangjik(李王職) in 1911 and a research on the existing buildings was done by Jujeonkwa(主殿課) in 1915. According to the research drawings, the garden still maintained the axial pathway formed in the previous phase but the garden had an asymmetric form. The flower bed was formed in a round shape and an open-knot technique and boundary plantation was applied to the garden. The third phase starts from 1933 to 1937 and is the period when Seokjojeon Hall was made public. By the year of 1932 many buildings of Deoksugung Palace had been demolished in the preparation of the opening of Seokjojeon Hall as a permanent exhibition hall. The central axial pathway still remained in the new garden and added a pond with a turtle statue in the center. The fourth phase starts from 1938 until the liberation from Japan and is the period when Deoksugung Palace became a park. Yi Royal-Family Museum was built and linked to Seokjojeon Hall with a bridge and the garden transformed into a sunken garden. The garden adopted a fountain and a pagora. Despite the minor changes in the after years the garden still posses most of its form from the fourth phase. As we can see the current garden of Seokjojeon Hall is not the same as the initial garden and therefor the importance of this study lies in the fact that modifications to the statements regarding to Seokjojeon Hall garden should be made.

• Management & Information Systems Review
• /
• v.36 no.3
• /
• pp.151-165
• /
• 2017

This study investigates the effect of revenue recognition by percentage of completion method on financial analysts' earnings forecasting information in order industry. Specifically, we examines how the analysts' earnings forecast errors and biases differ according to whether or not to report the unbilled revenue account balance and the level of unbilled revenue account balance. The sample consists of 453 firm-years listed in Korea Stock Exchange during the period from 2010 to 2014 since the information on unbilled revenue accounts can be obtained after the adoption of K-IFRS. The results are as follows. First, we find that the firms with unbilled revenue account balances have lower analysts' earnings forecast accuracy than the firms who do not report unbilled revue account balances. In addition, we find that the accuracy of analysts' earnings forecasts decreases as the amount of unbilled revenue increases. Unbilled revenue account balances occur when the revenue recognition of the contractor is faster than the client. There is a possibility that managerial discretionary judgment and estimation may intervene when the contractor calculates the progress rate. The difference between the actual progress of the construction and the progress recognized by the company lowers the predictive value of financial statements. Our results suggest that the analysts' earnings forecasts may be more difficult for the firms that report unbilled revenue balances as applying the revenue recognition method based on the progress criteria. Second, we find that the firms reporting unbilled revenue account balances tend to have higher the optimistic biases in analysts' earnings forecast than the firms who do not report unbilled revenue account balances. And we find that the analysts' earnings forecast biases are increases as the amount of unbilled revenue increases. This study suggests an effort to reduce the arbitrary adjustment and estimation in the measurement of the progress as well as the introduction of the progress measurement method which can reflect the actual progress. Investors are encouraged to invest and analyze the characteristics of the order-based industry accounting standards. In addition, the results of this study empower the accounting transparency enhancement plan for order industry proposed by the policy authorities.

• Management & Information Systems Review
• /
• v.22
• /
• pp.137-165
• /
• 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.

• Management & Information Systems Review
• /
• v.35 no.4
• /
• pp.169-184
• /
• 2016

Deferred tax assets (liability) in a company's financial statements are to reflect the temporary difference between taxable income and accounting income and therefore can provide useful information as a proxy for discretionary accruals. In addition, deferred tax assets allow a company to manage its earnings by reviewing the feasibility of the assets' recognition. As such, this study focused on deferred tax assets to examine their relationship with discretionary accruals, which were measured by a modified Jones model (Dechow et al. 1995), and investigated the impact of audit quality on this relationship. In order to control for the effects of tax rate change and measurement credibility, deferred tax assets of 2,670 non-financial firms from 2009 to 2010 were collected as samples for the study. The results of the empirical analysis are as follows. First, the samples as a whole indicated that deferred tax assets have a negative relationship with discretionary accruals in a general sense, but a high-quality audit did not reveal a significant relationship between them. Second, the 1,379 samples with negative discretionary accruals did not reveal a significant relationship between deferred tax assets and discretionary accruals; however, the result showed a significant negative relationship under a high-quality audit. These findings suggest that in the case of negative discretionary accruals, a high-quality audit restricts an earnings management technique that utilizes deferred tax assets and that the assets can be a useful tool for detecting discretionary accruals. The present study is meaningful in that, unlike previous research, it combined the two contrasting roles of deferred tax assets-that of an earnings management detector and an earnings management tool-to examine their general relationship. The study also suggested that audit quality could influence the usefulness of deferred tax assets in providing information on discretionary accruals.

• The Journal of Korean Academy of Prosthodontics
• /
• v.47 no.2
• /
• pp.222-231
• /
• 2009

Statements of the problem: Over the past decades, conventional complete dentures were used for various patients although they have incomplete function. Overdentures using dental implants could help the improvement of denture function. Purpose: The purpose of this study was to compare the strains of abutment and bone on implant overdenture between splinted and unsplinted type of prosthesis. Additionally, the strain values of parallel placed implant model and unparallel placed implant model were compared. Material and methods: Two acrylic resin model were prepared and two implants were placed at the canine positions in each model. In the first model, two implant were placed parallel. In the second model, two implants were placed with 10 degree labiolingual divergence. Two types of abutment were connected to the fixtures alternatively. One was splint type of Hader bar, the other was unsplint type of ball abutment. Overdentures were fabricated with corresponding attachment systems and seated on abutments. Strains of abutments and labial bone simulants were measured with electric resistance strain gauges when static load from 100 N to 200 N were applied to overdentures. Results: 1. Splinted type of overdentures using bar and clip showed higher absolute strain values. But the strain was compressive and the load was shared by two implants(P<.05). 2. Unsplinted type overdentures using ball and O-ring showed low absolute strain values(P<.05). 3. Labially inclined implant showed higher tensile strain values in unsplinted type of prosthesis than in splinted type of prosthesis. Lingually inclined implant showed rather low strain values under load(P<.05). 4. Non parallel implant model showed higher absolute strain values than parallel placed implant model comprehensively(P<.05).

• The Journal of Korean Academy of Prosthodontics
• /
• v.47 no.2
• /
• pp.232-239
• /
• 2009

Statements of the problem: Many denture wearers occasionally use denture adhesives to improve denture retention, stability and chewing efficiency. An ideal denture adhesive is nontoxic, non-irritating, and provides comfort to the oral mucosa. Purpose: The purpose of this study was to evaluate the cytotoxicity and adhesive properties of a selected denture adhesive. Material and methods: To test cytotoxicity of the selected denture adhesive, mouse fibroblast cells were used in MTT testing. Cytotoxicity was examined according to the concentration of the denture adhesive and incubated for 1 to 4 days. To examine adhesive property, a denture base was fabricated on an edentulous dentiform. The adhesive was applied to the denture base, then tensile bond strength was measured, to evaluate the change in retention during 3 days. Results and Conclusion: 1. 1% and 2% concentration denture adhesive cream had no cytotoxicity. 2. The tensile bond strength of the group with both denture adhesive and artificial saliva was significantly higher than that of the group with only denture adhesive(P<.05). The tensile bond strength of the group with denture adhesive was significantly higher than that of with only artificial saliva(P<.05). 3. The tensile bond strength had no significant change during 1 hour, and then gradually decreased. After 1 day, it decrease to half. Within the limitation of this study, the tested denture adhesive had no cytotoxicilty and was effective in improving denture retention. The adhesive strength began to continuously decrease after 1 hour and it decreased to half at 1 day after application.

• Journal of the Korean Institute of Landscape Architecture
• /
• v.48 no.4
• /
• pp.41-54
• /
• 2020

This study was conducted to provide basic data for a transparent and fair bidding system by identifying problems and suggesting improvement measures through an analysis of the bidding status for construction projects and service-related landscaping of multi-family housing. To this end, we used the data from the "Multi-Family Housing Management Information System (K-apt)" that provides the history of apartment maintenance, bidding information, and the electronic bidding system to examine the winning bid status and amount, along with the size and trends of the winning bids by year, and the results of the selection of operators by construction type. As a result, it was found that out of the total number of successful bids (36,831), 4.4% (16,631) were in the landscaping business, and the average winning bid value was found to be about 24 million won. According to the data, 73% of the landscaping cases were valued between 3 million won and 30 million won, and 58.6% of the cases were in the field of "pest prevention and maintenance". 36% of the total number of bids were awarded from February to April, with "general competitive bidding" accounting for 59.8% of the bidding methods. As for the method of selecting the winning bidder, 55% adopted the "lowest bid" and "electronic bidding method," and 45% adopted the "qualification screening system" and "direct bidding method." As an improvement to the problems derived from the bidding status data, the following are recommended: First, the exception clause to the current 'electronic bidding method' application regulations must be minimized to activate the electronic bidding method so that a fair bidding system can be operated. Second, landscaping management standards for green area environmental quality of multi-family housing must be prepared. Third, the provisions for preparing design books, such as detailed statements and drawings before the bidding announcement, and calculating the basic amount shall be prepared so that fair bidding can be made by specifying the details of the project concretely and objectively must be made. Fourth, for various bidding conditions in the 'business operator selection guidelines', detailed guidelines for each condition, not the selection, need to be prepared to maintain fairness and consistency. These measures are believed to beuseful in the fair selection of landscaping operators for multi-family housing projects and to prepare objective and reasonable standards for the maintenance of landscaping facilities and a green environment.

• Journal of the Korean Institute of Traditional Landscape Architecture
• /
• v.36 no.3
• /
• pp.128-136
• /
• 2018

This study was centered on the protested data of the issue of "History of Landscape Architecture" in the handwritten course of landscaping articles of National Qualifications Test. The purpose of this study is to examine the types of social problems in the process of correcting erroneous historical facts. The purpose of this study was to find alternatives for the development of the field of landscape and culture history that can assist in the verification of the historical facts of the landscape sciences examination questions. The main results are as follows. First, as a result of analyzing the contents of the landscape architects' subject matter, the establishment of concept of landscape style and form and the confirmation of historical facts were investigated as important types to be established for development of landscape landscape history department. It seems that the social consensus of the expert group is needed to supplement the lack of data to refer to landscape architectural theory. Second, the analysis of the problematic narrative contents resulted in a total of five types of questionnaires. The appeared in the Undefined style and form(52.94%), Unproven historical facts(25.13%), Obscurity Era classification(11.77%), Lack of specificity(6.95%), Content scope of obscurity events(3.21%) Third, it is not only the lack of information to learn the theory by comparing and analyzing the contents of the statements in the landscape architect 's question items, but also the difference of contents between books was analyzed as the main cause of the problem. As a result of examining the characteristics and examples of the issues raised in landscape architectural problems, it was related to the social phenomenon, and it was classified into cultural factors and political factors. Fourth, the resolution of problematic issues in landscape architects' landscaping articles, which are national technical qualification tests, shows positive results. The information determined in the process of solving the perceived content can be used directly in landscaping field, and it helps the accuracy of the verification process by identifying the types and characteristics of the issues.

• Journal of Intelligence and Information Systems
• /
• v.21 no.3
• /
• pp.79-99
• /
• 2015

The prediction of bankruptcy has been extensively studied in the accounting and finance field. It can have an important impact on lending decisions and the profitability of financial institutions in terms of risk management. Many researchers have focused on constructing a more robust bankruptcy prediction model. Early studies primarily used statistical techniques such as multiple discriminant analysis (MDA) and logit analysis for bankruptcy prediction. However, many studies have demonstrated that artificial intelligence (AI) approaches, such as artificial neural networks (ANN), decision trees, case-based reasoning (CBR), and support vector machine (SVM), have been outperforming statistical techniques since 1990s for business classification problems because statistical methods have some rigid assumptions in their application. In previous studies on corporate bankruptcy, many researchers have focused on developing a bankruptcy prediction model using financial ratios. However, there are few studies that suggest the specific types of bankruptcy. Previous bankruptcy prediction models have generally been interested in predicting whether or not firms will become bankrupt. Most of the studies on bankruptcy types have focused on reviewing the previous literature or performing a case study. Thus, this study develops a model using data mining techniques for predicting the specific types of bankruptcy as well as the occurrence of bankruptcy in Korean small- and medium-sized construction firms in terms of profitability, stability, and activity index. Thus, firms will be able to prevent it from occurring in advance. We propose a hybrid approach using two artificial neural networks (ANNs) for the prediction of bankruptcy types. The first is a back-propagation neural network (BPN) model using supervised learning for bankruptcy prediction and the second is a self-organizing map (SOM) model using unsupervised learning to classify bankruptcy data into several types. Based on the constructed model, we predict the bankruptcy of companies by applying the BPN model to a validation set that was not utilized in the development of the model. This allows for identifying the specific types of bankruptcy by using bankruptcy data predicted by the BPN model. We calculated the average of selected input variables through statistical test for each cluster to interpret characteristics of the derived clusters in the SOM model. Each cluster represents bankruptcy type classified through data of bankruptcy firms, and input variables indicate financial ratios in interpreting the meaning of each cluster. The experimental result shows that each of five bankruptcy types has different characteristics according to financial ratios. Type 1 (severe bankruptcy) has inferior financial statements except for EBITDA (earnings before interest, taxes, depreciation, and amortization) to sales based on the clustering results. Type 2 (lack of stability) has a low quick ratio, low stockholder's equity to total assets, and high total borrowings to total assets. Type 3 (lack of activity) has a slightly low total asset turnover and fixed asset turnover. Type 4 (lack of profitability) has low retained earnings to total assets and EBITDA to sales which represent the indices of profitability. Type 5 (recoverable bankruptcy) includes firms that have a relatively good financial condition as compared to other bankruptcy types even though they are bankrupt. Based on the findings, researchers and practitioners engaged in the credit evaluation field can obtain more useful information about the types of corporate bankruptcy. In this paper, we utilized the financial ratios of firms to classify bankruptcy types. It is important to select the input variables that correctly predict bankruptcy and meaningfully classify the type of bankruptcy. In a further study, we will include non-financial factors such as size, industry, and age of the firms. Thus, we can obtain realistic clustering results for bankruptcy types by combining qualitative factors and reflecting the domain knowledge of experts.