법정관리기업의 회계이익과 자기자본 장부가치에 대한 상대적 주가배수 분석

신현대,Shin, Hyun-Dai 한국정보기술전략혁신학회 2005 情報學硏究 Vol.8 No.3

This study examines that pricing multiple on and incremental explanatory power of equity book value(earnings) increase(decrease) as financial health decrease. Test using a sample of 75 bankrupt firms and test using a cross-sectional, pooled sample both yield inference consistent with predictions. It is thus hypothesized that the more bankrupt time we, the higher(lower) pricing multiple book value of equity(earnings) obtained. Findings are robust to inclusion of for debt/assets ratio, ROA, and ROIC. Overall, the results is the hypothesis.

새로운 기업 환경에 요구되는 성과측정 방안

신현대,Shin, Hyun-Dai 한국정보기술전략혁신학회 2004 情報學硏究 Vol.7 No.4

The main purpose of the present study are as follows: First, through the extensive literature review, we tried to find out environmental changes in the management thoughts. Second, as we found a new paradigm on valuation-oriented management thoughts, we argued that cost/management accounting information should play key roles in creating values. Third, we pointed out that when firms used only financial performance measurements, problems could take places. Finally, especially to promote the organizational effectiveness and efficiency, we stressed that firms should use the balanced scorecard approach in performance measurements of its own organizations and personnels.

회계이익 구성요소의 추가적 정보가치가 주식수익률에 미치는 영향

신현대,Shin, Hyun-Dai 한국정보기술전략혁신학회 2004 情報學硏究 Vol.7 No.3

This study examines the relation between accruals components of earnings and stock return. Earnings are decomposed into four components: discretionary accruals, nondiscretionary accruals, nondiscretionary income and cash flow from operations. Because reported earnings in financial statement consist of cash flow from operations plus total accruals. We decompose total accruals into a discretionary accruals and a nondiscretionary accruals separately. This paper examines the incremental informational content of discretionary accruals and nondiscretionary accruals components of net income by regressing return on earnings' components in multivariate models. The empirical analysis is conducted on a sample of 1,580 firm-years comprising 158 firms during 1991-2003. discretionary accruals are obtained by decomposing total accruals into discretionary and nondiscretionary accruals conponents, using a pooled variation of the Jones model(1991). These findings suggest that the discretionary accruals(measured using a variation the Jones model) is priced by the stock market. Specifically, the discretionary accruals and cash flow from operations are positively associated with the stock return, and also nondiscretionary income, discretionary accruals are positively associated with the stock return. While this result is consistent with the market prices the discretionary accruals because it captures value-relevant information. Additional test report evidence consistent with nondiscretionary accruals conveying information about the stock return.

경상수지, 성장성, 활동성 등과 수익성 간의 관련성 고찰

신현대(Hyun-Dai Shin) 한국무역연구원 2016 무역연구 Vol.12 No.5

This study investigates the relevance between profitability and current account balance, growth, activity etc in Korean Company. Data used were collected Ecos covering the period from 1990 to 2013 Current account balance, Ratio of net income, Ratio of Total asset growth, Inventory turnover. At this time, Ratio of net income is shown us about profitability. The income was divided as total asset from percentage value. And Ratio of total asset growth is shown us about growth. the ending total asset was divided as beginning total asset from percentage value. Inventory turnover is shown us about activity. the sales was divided as inventory from percentage value. Meanwhile, The results of study can be summarized as follows: First, about the economic indicators, current account balance has a negative effect on profitability. Second, the ratio of growth, total assets growth has a positive effect on profitability. Third, inventory turnover also has a positive effect on profitability too.

학교환경과 학습자의 특성 요인이 학교생활만족 및 학업성취에 미치는 영향

신현대(Shin Hyun Dai),신재기(Shin Jai Ki) 글로벌경영학회 2009 글로벌경영학회지 Vol.6 No.1

The purpose of the study is to investigate that the influence of scholastic achievement on the formed satisfaction of school life about taxation majors by physical environment, psychological circumstances, visions of job, exhaustion experiences, learning ability of taxation majors. The results of study can be summarized in the following. First, physical environment, psychological circumstances and visions of job, learning ability have positive effects on satisfaction of school life about taxation majors but exhaustion experiences have inverse effect on satisfaction of school life about taxation majors. Second, physical environment, psychological circumstances and visions of job, learning ability have not significant correlation with scholastic achievement but exhaustion experiences have inverse effect on scholastic achievement. Third, satisfaction of school life has positive effect on scholastic achievement. after all physical environment, psychological circumstances, visions of job, learning ability and exhaustion experiences affect satisfaction of school life. And then at this time satisfaction of school life affect scholastic achievement. By the way, physical environment, psychological circumstance and visions of job, learning ability don t directly affect scholastic achievement, they can affect scholastic achievement only through parameter that is named satisfaction of school life. however exhaustion experiences affect both satisfaction of school life and scholastic achievement. The above results show the necessity of the recognition about satisfaction of school life as a parameter. It is important to learn for scholastic achievement.

국내 주요 교역지표와 주당이익 간의 관련성

신현대(Hyun-Dai Shin) 한국무역연구원 2012 무역연구 Vol.8 No.1

The purpose of the study is to investigate that the relevance of between major Indicators of Trade and Earnings per share in Korean. these data can be collected from 1990 to 2009 at Ecos in Bank of Korea. What data have been that a current balance, terms of trade, foreign direct investment, balance of payment which is general goods, the exchange rate on America, earning per share etc as a variable. Meanwhile, The results of study can be summarized in the following. First, considering that statistically, a Current balance among the major Indicator of Trade has significant negative effects on Earnings per Share. It show us that Earning per Share as a Firm's performance and a Current balance have possibility inverse relationship each other. Second, Foreign direct investment among the major Indicator of Trade has not significant effects on Earnings per share. It can show us Earning per share has not relevance Foreign direct investment. so It need new approach about effect of Foreign direct investment as which are reviewed Third, Terms of trade among the major Indicator of Trade has also not significant effects on Earnings per share. It can have been raised a question that general thinking what Terms of trade has relevance a Firm's performance. Fourth, Balance of payment which is general goods among the major Indicator of Trade has significant positive effects on Earnings per Share. It show us Earning per share has relevance on balance of payment which is general goods by can be presume. Fifth, the Exchange rate on America among the major Indicator of Trade has also significant positive effects on Earnings per Share. so It need consideration on strategy of exchange rate on America. According to the results it shows the necessity of the recognition about relevance between major indicator of trade and earning per share that it can be important factor as growing and developing of economic.

국내 주요 관심 대상 경제지표가 일반상품무역수지에 미치는 영향

신현대(Hyun-Dai Shin) 한국무역연구원 2013 무역연구 Vol.9 No.3

The purpose of the study is to investigate that the influence of interesting economic indicators on the Trade balance of tangible good in Korea. This study can be used the data from 1990 until 2009 as interesting economic indicators by means of independent variable that gross national income, exchange rate on America, earning per share. At this time, dependent variable is Trade balance of tangible good. In condition that we have got analyzing and researching about variable's change. Due to the researching, the results of study can be summarized in the following. First, considering that statistically, the Exchange rate on America has 'significant positive' effects on Trade balance of tangible good. In other word, when Exchange rate on America increase, Trade balance of tangible good gets a '+' position. It shows us that Trade balance of tangible good gets an ascent or descent with Exchange rate on America gets an ascent or descent. It will be importance relation because of to make a decision relevant on economic to become a wealth or poverty by a country. Second, considering that statistically the Earnings per share has 'significant positive' effects on Trade balance of tangible good too. In other word, when advantage over for Earning per share happen, Trade balance of tangible good gets a '+' position. It shows us that importance of Earning per share as a variable on interesting economic indicator. Third, the Gross national income as a interesting economic indicator has no significant 'positive or negative' effects on Trade balance of tangible good. According to the results it shows the necessity of the recognition about Trade balance of tangible good and interesting economic indicator which is payed attention that it can be important factor as grow and development of countries. So it needs managing, coordinating, controlling.

국내기업 재무상태와 경상수지 간의 관계성 고찰

신현대(Hyun-Dai Shin) 한국무역연구원 2015 무역연구 Vol.11 No.5

The purpose of the study is to investigate that the relationships of between the current balance and the financial status in Korean companies. Data used were collected from 1990 to 2013 at Ecos. The following variable were used the current balance, total capital investment efficiency, interest expenses, net income to total assets, gross value added to total assets, growth rate of total assets, debt ratio, ratio of investment turnover, net barter terms of trade index. Meanwhile, The results of study can be summarized as follows: First, growth rate of total assets has a positive effect on current balance. And Multiplied by the growth rate of total assets in net barter terms of trades index have a negative effect on current balance at a level significant. Second, debt ratio has a significant negative effects on current balance. And debt ratio which is multiplied net barter terms of trade index has significant positive affect on current balance. Third, the ratio of inventories turnover has a positive effect on current balance. And ratio of inventories turnover which is multiplied net barter terms of trade index has significant negative effect on current balance.

국내 기업의 재무적 특성 요인이 해외직접투자에 미치는 영향 : 패널데이터 모형을 이용한 접근

신현대(Shin Hyun-Dai),이정기(Lee Jung-Ki) 한국국제회계학회 2009 국제회계연구 Vol.0 No.27

해외 직접투자는 지역별, 시간별로 다양한 원인에 의해서 투자 의사결정이 이루어지고 있어 복잡성을 띠고 있다. 본 연구에서는 이렇게 복잡성을 띠고 있는 해외 직접투자의 제 변인들 중 주요 변인을 선별하여 그 행태를 파악하고자 한다. 이에 따라 보다 진보된 접근 방법 중에 하나인 패널 데이터를 이용한 연구 모형을 설정하고 이를 통해 분석을 실시한다. 단, 이때 선별, 채택한 변수는 선행연구에서 다루어지지 않았으나 관심 대상 변인 중의 하나로 그 중요성이 높은 ‘기업집단의 재무적 특성’이다. 한편, 본 연구에서는 국내 기업집단의 주요 해외직접투자지역을 7개 그룹(아시아, 북미, 유럽, 중남미, 대양주, 아프리카, 중동)으로 분류하여 이를 분석대상으로 삼았다. 이때 이용된 자료는 2002년 6월부터 2007년 12월까지 국내기업의 재무정보 자료로써, 국내기업의 해외직접투자액을 종속변수로 설정하고 총자산 순이익률, 매출액 순이익률, 자기자본 순이익률, 부채비율, 고정부채비율, 유동부채비율, 총자산회전율, 재고자산회전율 등을 설명(독립)변수로 투입하였다. 해외 직접투자 결정요인으로서 국내기업의 재무적 특성을 추정한 결과 총자산 순이익률, 매출액 순이익률, 자기자본 순이익률은 각각 유의적인 정(+)의 영향을 미치는 것으로 나타나고 총자산회전율, 재고자산회전율은 유의적으로 부(-)의 영향을 미치는 것으로 나타났다. 그밖에 부채비율, 고정비율은 정(+), 유동부채비율은 부(-)의 영향을 미치지만 그 영향은 유의한 수준은 아니었다. In respect complication, group and period, the foreign direct investment of korea is composed of various factors. This paper studies focus on estimating the determinants of foreign direct investment of korea. The region of analysis consist of 7 groups, that is, Asia, Europe, Central and South America, Oceania, Africa, Middle East. Analyzing period be formed over a 67 point(2002. 6~ 2007. 12). In this paper dependent variable setting up an amount of foreign direct investment, independent variables is composed return on assets ratio, return on sales ratio, return on equity ratio, debt ratio, fixed liabilities on capital ratio, current liabilities on capital ratio, assets turnover, inventory turnover. The result of estimating the determinants of foreign direct investment of korea provides empirical evidences of significance positive relationships between assets ratio, return on sales ratio, return on equity ratio. However this study provides empirical evidences of significance negative relationships between the assets turnover, inventory turnover. The independent variables, that is, an average of the debt ratio, fixed liabilities on capital ratio, current liabilities on capital ratio are non-significance variables Implication of these findings are discussed for content research and practices

기업 재무구조의 안정성과 일반상품 무역수지 간의 관련성

신현대(Hyun-Dai Shin) 한국무역연구원 2011 무역연구 Vol.7 No.3

The purpose of the study is to investigate that the Relevance of between Stability on financial structure and the Trade balance on tangible goods. This study was used from 1999 to 2009 in data as stability on capital structure by means of independent variable that the ratio of owner’s equity, debt ratio, current ratio, quick ratio, fixed ratio, ratio of fixed assets to stockholder’s equity and long-term liabilities. At this time, the dependent variable is a trade balance on tangible goods, which was used in data 1999-2009. In condition that we have got analyzing and researching about variable’s change. Due to the research, the results of study can be summarized in the following. First, ratio, stability on provider of capital have no significant effects on the trade balance of tangible goods. In other word, ratio of stability on provider of capital, which is ratio of owner’s equity, debt ratio that have noting effect on trade balance of tangible goods. It shows us that Rata of stability on provider of capital is not importance as a variable that is controlling for the trade balance of tangible goods. Second, ratio, stability on payment capacity also have no significant effects on the trade balance of tangible goods. In other word, ratio of stability on payment capacity which is current ratio, quick ratio that have noting effect on trade balance of tangible goods. It shows us that ratio of stability on payment capacity is not importance as a variable which is controlling for the trade balance of tangible goods, too. Third, though one of ratios, stability on fund use which is a fixed ratio has significant positive effect on trade balance on tangible goods. One of ratios, stability on fund use which is ratio of fixed assets to stockholder’s equity and long-term liabilities has no significant ‘positive or negative’ effects on trade balance of tangible goods. It shows us that It n wds a managing of positive for trade balance on tangible goods whwhiwhich has aggressive angi. One ed about fixed asset. One. One ment for fixed asset has initiative about export. According to the results, it shows the necessity of the recognition about Trade balance of tangible goods and Stability on financial structure. they can be important factors as grow and development of countries. So it needs managing, coordinating, controlling.