• 한국항해항만학회지
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• 제39권3호
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• pp.261-266
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• 2015

기업의 운전자본관리는 단기재무전략관리 차원에서 접근이 가능하며, 이는 기업의 유동성 및 수익성 등에 영향관계가 있음이 실증되고 있다. 따라서 효율적인 운전자본관리는 기업의 수익성을 증대시킬 수 있을 뿐만 아니라, 유동성 또한 개선시킬 수 있게 된다. 해운기업의 경우 글로벌금융위기와 맞물려 수익성과 유동성에 많은 어려움을 겪었음에도 불구, 운전자본관리와 수익성에 대한 연구는 전무한 상태이다. 이에 본 연구에서는 2004년 이후 46개 해운기업을 대상으로 운전자본관리와 수익성과의 관계를 규명함으로써 단기재무전략 수립에 유용한 정보를 제공하고자 하였다. 연구의 결과 기존연구들과 같이 매입채무기간, 재고기간, 현금주기, 영업주기가 해운기업의 수익성 즉, 매출액 총이익률과 매출액영업이익률을 개선할 수 있는 중요한 요인인 것으로 실증되었다. 특히 매입채무신용기간과 영업주기의 증가는 수익성의 증가를 가져오는 것으로 분석된 반면, 재고기간과 현금주기는 부(-)의 관계를 보여 이들이 줄어들 경우 수익성이 증가하는 것으로 나타났다. 매출채권기간은 일부 모형에서 유의하였으나, 기존 연구들과는 달리 해운기업의 경우 수익성과의 관계를 설명하기에는 한계가 있는 것으로 나타났다.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.229-235
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• 2021

The ability of entrepreneurs to arrange working capital is the key to maximizing the profitability of small- and medium-sized enterprises and the wealth of entrepreneurs. The study investigates the correlation between entrepreneurs' working capital management and the profitability of SMEs listed on six Gulf Cooperation Council (GCC) stock exchanges between 2019 and 2020. The secondary data is collected from the financial statements of SMEs listed on the six GCC stock exchanges. Actual sample for the research study was a total of 136 small- and medium-sized enterprises selected using purposive sampling methods. Four research models were considered in this analysis, all ending up affecting gross profits. The selected entrepreneurial SMEs were listed on six different Gulf Cooperation Council stock exchanges during 2019-2020. The fixed financial assets ratio, financial debt ratio, and company size are used as control variables and data were analyzed using multiple regression. The research results demonstrate that there is a statistically significant negative correlation between profitability measured by gross profit and cash cycle and the components of the cash cycle (including days of accounts receivable and days of inventory). The study further reveals that there is no significant correlation between gross profit and days of accounts payable.

• 유통과학연구
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• 제11권2호
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• pp.5-10
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• 2013

Purpose - The current research examines the effect of life cycle stages on capital structure of listed companies in Tehran Stock Exchange. Research design, data, methodology - By aid of 685 year-company data, which collected from financial statements of companies during 2006-2012, first, the companies, are classified into three groups including companies in growth, maturity and decline stages. After removing the companies, which were not in accordance with life cycle model, 86 companies were selected to test two main hypotheses of the research. Results - The results show that the capital structure of the sample companies is different in various life cycle stages. More investigation by LSD test also revealed that the total debt to total assets ratio means of the companies in growth stages were significantly different from those companies in maturity stages and those in growth stages had high level of debt to assets ratio. Conclusions - The result showed the average amount of the working capital for companies in three stages are significantly different and due to high level of operation of the companies in maturity and decline stages, these companies held high amount of working capital than those in the growth stages.

• The Journal of Asian Finance, Economics and Business
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• 제7권10호
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• pp.741-750
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• 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.

• 재무관리연구
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• 제25권4호
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• pp.25-51
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• 2008

본 연구는 1986년 1월 1일부터 2007년 12월 31일까지 한국증권선물거래소의 유가증권시장에 상장된 기업을 대상으로 운전자본의 고정자산투자 스무딩효과를 실증분석 하였으며, 주요한 분석결과는 다음과 같다. 재무적 제약기업은 운전자본을 이용하여 고정자산투자를 스무딩할 수 있다. 외부에서 음(-)의 현금흐름 충격이 발생하면, 운전자본의 감소를 통해 고정자산투자를 스무딩하고, 양(+)의 현금흐름 충격이 발생하면, 운전자본의 증가를 통해 잉여현금흐름을 보관한다. 따라서 재무적 제약기업의 경우에, 운전자본은 고정자산투자에 유의한 음(-)의 영향을 미치며, 재무적 제약이 클수록 음(-)의 영향력은 더 커진다. 제무적 제약 정도는 배당지급 수준과 자본시장 접근성을 기준으로 측정할 수 있다. 저배당기업은 고배당기업보다 재무적 제약이 크며, 자본시장 비접근 기업은 접근기업보다 재무적 제약이 크다. 또한, 운전자본과 고정자산투자간의 내생성을 고려하더라도 운전자본의 고정자산투자 스무딩효과는 여전히 존재한다. 따라서 운전자본의 고정자산투자 스무딩효과는 통계적으로나 경제적으로 중요한 의미를 갖는다고 할 수 있다. 결론적으로, 한국증권선물거래소의 유가증권시장에 상장된 기업들은 비대칭정보 하에서 재무적제약을 받을 경우에, 운전자본을 사용하여 고정자산투자를 스무딩한다고 할 수 있다. 특히, 배당지급이 적은 저배당기업이나 자본시장에 접근이 용이하지 않은 비접근기업은 재무적 제약이 더 많기 때문에, 운전자본을 사용하여 고정자산투자를 스무딩 할 가능성이 많다. 따라서 기업 경영자들은 이러한 운전자본의 고정자산투자 스무딩효과를 고려하여 운전자본관리를 실천함으로써 기업가치를 극대화시킬 수 있다고 생각한다.

• 디지털융복합연구
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• 제17권4호
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• pp.57-64
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• 2019

본 연구는 국내 기업에 근무하는 탈북민 270명을 표본으로 수집하였다. 본 연구의 목적은 첫째, 조직 내에서 탈북민들이 경험하는 컴페션이 긍정 심리자본에 미치는 영향을 검증하는 것이고, 둘째는 컴페션을 통하여 형성한 긍정 심리자본이 잡 크래프팅에 미치는 영향을 실증하는 것이다. 셋째, 본 연구의 목적은 컴페션과 잡 크래프팅의 관계에서 긍정심리자본의 매개효과를 검증하는 것이고, 마지막으로 컴페션과 긍정심리자본의 관계에서 심층행동의 조절효과를 실증하는 것이다. 본 연구 결과 탈북민들이 경험하는 컴페션이 긍정심리자본에 정(+)의 영향을 미치는 것으로 실증되었고, 긍정심리자본이 잡크래프팅에 정(+)의 영향을 미치는 것으로 검증되었다. 또한 연구결과 긍정심리자본의 매개효과와 심층행동의 조절효과 역시 유의한 것으로 검증되어 모든 가설이 지지되었다. 본 연구는 한국 기업에 근무하면서 공감적인 돌봄을 필요로 하는 탈북민들에게 긍정적 정서와 능동적인 업무설계의 동기부여를 제공해 준다는 시사점이 있을 것이다.

• 한국병원경영학회지
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• 제29권1호
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• pp.32-45
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• 2024

Purpose: This study was performed to determine whether positive psychological capital and role conflict among hospital nurses influence patient safety competencies. Methods: Data were collected from nurses working at one hospital with more than 800 beds in J Province. Data were analyzed using descriptive statistics, t-test, ANOVA, Scheffé's test, Pearson's correlation analysis and hierarchical regression analysis using SPSS 26.0 program. Findings: In the hierarchical regression analysis, positive psychological capital, role conflict, bachelor's degree or higher as the highest level of education achieved, and three or more experiences reporting accidents impacting patient safety were found to significantly correlate with subjects patient safety competency. Among these, positive psychological capital emerged as the strongest factor, and the explanatory power of Model 4 was determined to be 38.1%. Conclusion: This study confirmed that hospital nurses' positive psychological capital and role conflict impact patient safety competency, underscoring the importance of organizational measures to increase patient safety awareness. Therefore, it is necessary to develop an educational program to strengthen hospital nurses' patient safety capabilities and conduct follow-up research to test its efficacy.

• 한국경영과학회지
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• 제4권1호
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• pp.33-39
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• 1979

The cash management problem as a part of working capital management has been extensively studied. By and large the articles surveyed lacked consideration of long-term assets and the proper tax treatment of them. Recognizing that investment activities - long-term as well as short-term generate cash inflows, leads one to conclude that these investments should be included in the cash management problem. The liquidity of long term investments is an integral part of the cash management problem. This paper formulated a cash management model which incorporate the effect of long term investments and their liquidity on cash holdings. Although all of the models formulated could be solved using mathematical programing techniques, the mere size of the problem in terms of the number of variables and constraints leads one to seek other methods. For this reason rules were developed using the Kuhn-Tucker conditions thereby substaintially avoiding the programming calculations or at least easing them significantly.

• International Journal of Internet, Broadcasting and Communication
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• 제14권3호
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• pp.51-62
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• 2022

This study tried to confirm the mediating effect of positive psychological capital on the relationship between the communication Competence of managers who are recognized as organizational members working in the company and the adaptive performance of the members. To this end, the research hypothesis established through the final 255 data was verified as follows using the SPSS 21.00 and AMOS 21.1 version statistical programs. First, the higher the manager's communication Competence, the higher the positive psychological capital of organizational members. Second, the higher the communication Competence of the manager, the higher the adaptive performance of the members. Third, as the positive psychological capital of organizational members improved, adaptation performance improved. Fourth, positive psychological capital showed a partial mediating effect between the manager's communication Competence and the member's adaptive performance. The results of this study empirically analyzed the relationship between manager's communication Competence and members' positive psychological capital assumption (+) on the improvement of organizational members' adaptive performance ability. This study has the meaning of the most important research in that it provides additional theoretical and practical implications in the face of insufficient research on factors affecting the adaptation performance of organizational members.

• 임상간호연구
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• 제29권3호
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• pp.271-282
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• 2023

Purpose: This study is a descriptive research study attempted to identify the job stress and positive psychological capital of clinical nurses and to identify the factors that impact job embeddedness. Methods: Data were collected from 115 nurses with over one year of clinical experience working at a 500-bed B General Hospital. The collected data were analyzed with the SPSS 27.0 program using frequency and percentage, mean and standard deviation, Independent t-test, One-way ANOVA, Scheffé test, Pearson's correlation coefficients, and multiple linear regression. Results: As a result of multiple regression analysis, hope among the sub-factors of positive psychological capital (β=0.48, p<.001), matters related to the work schedule (β=-0.23, p=.005) among the sub-factors of job stress, and conflict with doctor (β=0.20, p=.013) was found to have an impact on job embeddedness, and the explanatory power of this regression model was 52.0% (F=13.12, p<.001). Conclusion: It was found that the positive psychological capital of clinical nurses has a positive impact on job embeddedness. In order to increase the job embeddedness of clinical nurses, it is necessary to develop, educate, and utilize specific intervention programs that can strengthen positive psychological capital. Efforts should be needed to prepare specific strategies for nurses to recognize the importance of hope and actively utilize positive psychological capital. In addition, it is necessary to create an organization-level working environment and continuous management to reduce the job stress of clinical nurses.