• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.12
• /
• pp.131-138
• /
• 2020

In accordance with huge demand for capital to meet the expansion of steel production, there are more and more steel companies who have officially listed their stocks in HOSE and HNX. One of the key issues in successful initial public offerings and seasonal offerings for these companies is how to make stocks of steel companies become more attractive in the eyes of investors. The purpose of this research is to analyze the determinants of share prices of listed steel companies in Vietnam. This study utilized macro-economic variables, ratios and indicators representing characteristics of steel industry collected from Quarter 1/2006 to Quarter 4/2019 in association with the panel data and the feasible generalized least square (FGLS) model to evaluate the degree of these factors on the share prices. The results of the research show that ROE, Cons_rate, and CO2_rate are three main factors affecting the share prices of listed steel companies. Among which, ROE and Cons_rate have a positive effect, while CO2_rate has a negative effect on the share prices of listed steel companies. It also confirms the relationship between the environmental factor, construction industry factor and the stock prices. This lays foundations for recommendations for the future policies towards environmental protection and sustainable development.

• Asia-Pacific Journal of Business
• /
• v.11 no.2
• /
• pp.27-43
• /
• 2020

Purpose - This study explores the impact of the real estate industry on related industries for the perspective of Chinese steel companies. Design/methodology/approach - The impact of housing prices on the 41 listed steel companies' performance was analyzed by using the panel data model. We used two kinds of housing price indexes that are set in the panel data models to estimate the range of the real estate market, driving the performance growth of steel listed companies. Moreover, the net profit of steel companies is used as the dependent variable. To test the stability of the model, ROA used as a dependent variable for the robustness test. Also, to avoid the time trend of housing prices, this paper selects the growth rate of housing prices as the primary research variable. After Fisher-type testings, there is no unit root problem in both independent and dependent variables. Findings - The results indicated that the rise in the housing price has a positive influence on the steel company performance. When the housing price increases by 1%, the net profit of steel enterprises will increase by 5 to 20 million yuan. Research implications or Originality - In this paper, empirical data at the micro-level and panel model are used to quantify China's real estate industry's driving effect on the iron and steel industry, providing evidence from the microdata level. It helps us to understand further the status and role of China's real estate industry in the economic structure.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.10
• /
• pp.741-750
• /
• 2020

This study examines the influence of working capital management (WCM) factors on the profitability of steel companies listed on the Stock Exchange of Vietnam. Data was collected from audited financial statements of companies for a period of 10 years, from 2010 to 2019. The number of samples eligible for research is 20 out of 26 companies, which is equivalent to 76.9%. With the help of dedicated software Stata version 14, the impact determination of WCM (through 8 independent variables: DIO, DPO, DSO, CCC, SIZ, CR, LEV, GRO) to the firm's profitability (through the dependent variable) is performed through multivariate regression models. Research results from companies in the steel industry in Vietnam during this period indicate that WCM has a strong impact on the profitability of businesses. Among 8 factors affecting the profitability of steel enterprises, factors DPO, DIO, DSO, CR, SIZ, GRO have a positive impact, boosting profitability; 2 factors CCC and LEV have a negative impact on profitability; in which, the effect of CCC is negligible. This conclusion is almost in contrast to many previously published studies due to the specifics of the industry as well as the different stages of economic development associated with the economic management policies of the State.

• The Journal of the Korea Contents Association
• /
• v.7 no.6
• /
• pp.195-205
• /
• 2007

The steel industry plays an important role in the entire Korean Economy. However, little empirical research has analyzed the efficiency of steel companies. The purpose of this paper is to measure and analyze their efficiency using DEA models. We evaluate the CCR and BCC efficiency and the return to scale of 28 Korean steel companies. We also provide their envelopment map and the projection, which are valuable information for inefficient companies to find benchmarking companies and to improve their efficiency.

• Transactions of the Korean Society of Automotive Engineers
• /
• v.18 no.5
• /
• pp.25-30
• /
• 2010

The authors have studied on the corrosion resistance of the hot stamped steel sheets for the application to automotive parts. Recently automotive companies have focused on the hot stamped parts to meet the light weighting needs and the safe reason. Because of the cost reduction of the hot stamped parts, automotive companies increase the usage of the coated steel sheets, especially Al-Si coated steel sheets. The coated layer of Al-Si coated steel sheets contains up to 50% of Fe, which was diffused from the steel sheet, after hot stamping. The hot stamped steel sheet was not phosphated due to the oxidation layer of the coating, however, the result of the water resistance test is similar to that of the conventional GA steel sheets. The pitting depth and the weight reduction of the coated layer of hot stamped steel sheets are less than those of GA steel.

• Journal of Korea Technology Innovation Society
• /
• v.4 no.3
• /
• pp.369-382
• /
• 2001

In this research, the world top steel companies' technical changes were measured by the nonparametric Malmquist index. Steel industry's production frontier which was composed of multiple inputs and multiple outputs was defined by using real data of the companies from 1986 to 1998, and then the variability of technical progress(or regress) was analyzed during that period. The dynamics of individual steel companies\` technical changes, periodical technical changes, and each country's technical chanties were explained. A matrix which was based on technical chanties, technical efficiency changes, and scale efficiency changes was designed to assist to find out current position and In build up future strategies. This research results will be an valuable input to the early stage of formulating competitive strategy because the technical core capability is an important source of the each companies's competitiveness.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.1
• /
• pp.271-283
• /
• 2021

This article provides empirical evidence on factors of internal audit (IA) characteristics affecting the internal audit effectiveness in steel enterprises in Vietnam. The study uses data from survey obtained from 114 responses representing owners, managers, and internal auditors from 38 steel enterprises in Vietnam for period from 2018 to 2019. Data collected is firstly checked with Cronbach's Alpha, then the EFA test, and the model linear regression is used to test the relationship between internal audit characteristics and internal audit effectiveness. Results reveal that internal audit effectiveness in steel enterprises in Vietnam is influenced by various internal factors, including the size of internal audit, the scope of internal audit, the capacity of internal auditors, the independence of internal auditor, and the operational bases and methods of internal audit. Based on the research results, the paper makes six recommendations: strengthening operational basis of IA; increasing the independence of IA; increasing the size and capacity of IA staff; expanding and not underestimate the scope of IA; and reforming the internal governance structure. These proposed recommendations could be applied, not only for steel companies in Vietnam, but also for other companies in Vietnam or other companies in jurisdictions that have similar conditions.

• Korean Management Science Review
• /
• v.20 no.2
• /
• pp.45-59
• /
• 2003

This study considers the local players in the European steel industry, whose the amounts of crude production are more or less 5 million tons per annum. They do not belong to the Pan-EU mega-group of steel mills with more than 15 million tons of crude production yearly. However, these mid-sized steel mills in European countries have been originated from the strong foundation of steel, scientifically and technically, as well as the centennial history. They concentrate on the niche market adjacent to the local area, which takes advantage of the geographical location. The companies considered here are VoestAlpine in Austria, Salzgitter in Germany, Rautaruukki in finland, and SSAB in Sweden. Their corporate strategies are compared on the basis of product mix and sales structure. And, the deep analysis for each company is performed, such as business strategies with the sales volumes, market strategies. competitiveness improvement planning. and R&D policies with the technology management. These analysis results can be benchmarked as the cases of best practices for domestic steel mills, especially mid & small sized companies, that develop business and market strategies for the sustainable growth and profitability.

• Journal of the Korean Society of Safety
• /
• v.27 no.5
• /
• pp.190-195
• /
• 2012

This study is aimed to investigate the occupational safety and health management of contractor company in the steel industry. Many companies now only carry out core functions inhouse and ancillary functions have been outsourced. This results in transferring risk to the contractor. The questionnaire survey was conducted on the suppliers and contractors of steel industry. Data were collected from 29 companies and their 240 contractor companies. From the survey result, it was found that the level of safety and health management is above the average. To strengthen the relationship for safety and health management, the supplier should provide more data and design a curriculum to train workers of contractor company. Also it is needed that the supplier company employ the person in exclusive charge to support contractor.

• Journal of the Korea Safety Management & Science
• /
• v.13 no.4
• /
• pp.213-223
• /
• 2011

Recent cross-country competition and Chinese steel industry because of the emerging steel industry in Korea is a very difficult situation. Therefore, the steel industry in order to overcome this difficult market environment, the quality, cost competitiveness, enhance customer service levels and enhance international competitiveness through is needed. In this study, the purpose of strengthening the competitiveness of steel companies in order and hit the recovery of raw materials have been developed to optimize the model, developed before and after the results were analyzed. In addition, when applied to other products in order to minimize risk and optimize cutting trial stage of development details of the model is presented in detail. Therefore, the developed model was applied to order the recovery of raw materials hits and significantly improved production planning time has been shortened dramatically. In the present study the contents of other products when properly applied and the competitiveness of companies to improve customer service levels are expected to be helpful.