균형성과표(Balanced Sorecard) 도입 방안에 관한 연구(Ⅰ)

윤금상,유홍성 인하대학교 산업경제연구소 2002 경상논집 Vol.16 No.1

After the Korean economy has been in charge of the IMF, many corporations have tried to adopt various innovative management techniques in order to maximize the value of their companies. There has also been a dramatic paradigm shift in understanding the meaning of a corporation from traditional understanding of “ producing material goods with cheap cost and selling those at high price" to a new understanding of “ an organization increasing value and creating wealth." This tendency means that the importance of intangible asset and non-financial performance measurement has been gradually increased. However, it also has been pointed out that traditional performance measurement system has several problems and limitations meeting the needs of this rapidly changing economic surroundings. In this situation, Balanced Score Card CBSC), which was suggested by Kalplan and Norton in 1992, is an integrated performance measurement system that includes both financial and non-financial measurement indicators. This study aims at the analysis of BSC which has been recently very popular and widely adopted by many companies. The purpose of this study is to analyze the method of adopting an appropriate BSC for a specific company through literature studies and case an 머 yses to secure the competitiveness of the company in the market; to present a right scheme of modification for the companies that have already used BSC according to the management environment and the change of business environment; and to provide a framework to inspect an suitable and appropriate BSC for the companies that are preparing to adopt BSC. Many studies have indicated basic principles for the successful application of BSC. First, BSe measurement indicator must closely connect the visions of a company with the company ’ s strategic goals. In addition, it must be able to clearly interpret the casual relationships between measurement items and indicators for achieving performance of the company. Second, BSe that deals with the whole structure of a company must have a coherence related with the scorecards at the units of substructure and individual scorecard. Third, an adequate BSe must have a capacity that can draw both quantitative and qualitative information. Fourth, a true BSe should allow dynamic communications and feedback. Fifth, easy directions of the system can bring BSe ’ s successful establishment. Sixth, BSe should be implemented at all the levels and in the whole structure of the company. Seventh, BSe needs to be built and integrated with other systems with a sense of unity. The limitation of this study is its heavy reliance on theoretical literature studies and the lack of demonstrative dimension of the effectiveness of BSe. The areas of further developments are figuring out the information creation process and its management program that would be in harmony with both short-term and long-term strategic directions and the management strategies of the informations production process by adopting BSe as a tool establishing strategies if it would be defined and managed as an essential knowledge related with the core performance standards suggested by BSe and would further be used as a good means managed by materializing intangible assets; and demonstratively analyzing the effectiveness of BSe by comparing and contrasting between financial performance indicators of the company before and after adopting BSe.

BSC 업적평가시스템에 관한 연구

윤금상 인하대학교 산업경제연구소 2001 경상논집 Vol.15 No.1

To be successful in this new environment of the three C's - customers, competitors, and change - firms must adapt to the changing needs of customers better than their competitors along such dimensions as quality, speed, flexibility, varity, and value. They must employ their resources, including investments in new product development, capital expenditures, and people, productively. Ultimately, to increase shareholder value a firm must yield a return to its shareholders in excess of its cost of capital. Unfortunately, many firm's performance systems have not been sufficiently redesigned to meet the needs of today's environment. Many systems primarily focus on measuring historical performance of internal operations, expressed in financial terms, performance of internal operations, expressed in financial terms, using as a basis of measurement a set of budgeted figures against which actual results are compared. Measures are also very detailed, running the risk of local optimization at the expense of what might be best for the firm as a whole. It has been sid that "you can't really understand a tennis match by just watching the scoreboard." These traditional systems must be expanded to deal with the future as well as the past, with external relationships and events as well as internal activities, and with non-financial as well as financial measures. Proponents of the philosophy of total quality management argue that focussing on leading indicators (such as market penetration, customer satisfaction, quality, speed, worker competence, and morale) leads to good numbers; the numbers directly may mortgage the future. In addition to the traditional, historical, inter­nal financial measures that give the" score," performance measurement systems must focus on the future, on external relationships, and non-financial as well as financial measures. This study is intended to evaluate "The Balanced Scorecard (ESe) performance evaluation system" by designed R. S. Kaplan and D. P. Norton. BSe performance evaluation system complements financial measures of past performance with measures of drivers of future performance. The objectives and measures of the BSe performance evaluation system are derived from an organization's vision and strategy. The objectives and measures view organizational performance from four perspectives: financial, customer, internal business process, and learning and growth. These four perspectives provide the framework for BSe performance evaluation system (see Figure 1). This study will help management accountants; . understand the relationship between BSe performance indicators and the organization's goals, strategies, and objectives; . recommend the benefits of implementing BSe performance evaluation system; . understand the phases of implementing a new performance measures, especially from four perspectives: financial, customer, internal business process, and learning and growth. . comprehend their roles and responsibilities in the new performance measures; . appreciate the organizational and management accounting challenges in imple­menting new performance measures; and . broaden employee awareness and obtain their buy-in for the performance measures.

회계이익조정이 주가설명력에 미치는 영향

윤금상,박철범 한국경영교육학회 2000 경영교육연구 Vol.21 No.-

This paper examines whether the accounting income information can't explain the stock price well due to the lack of credibility on the financial statement to which the accunting earning management is applied. This paper also shows if the capital market of korea is efficient of not. For this purpose, the amount of earning management was estimated by using the jang hwee-yong and park jong-kap's model(1999) which is known superior to any other existing models in terms of forecasting capability. Then, by using the jung hei-young's model for the determination of firm value based on the accounting information'(1995), the two models listed below are compared in their ability to explain the stock price.- model of firm value estimated by using accounting information based on the financial statement, and- model of firm value estimated by using accounting income information reflecting the earning management. The results of this paper suggest that both of the two models explain similarly, which means all of the investors don't distrust financial statement. In other words, part of the investors invest in the stock market based on the accounting information released in the financial statement, and another part based on non-accounting information of the corporation.

전략적 업적평가모형에 관한 연구

윤금상 인하대학교 산업경제연구소 1997 경상논집 Vol.11 No.1

To be successful in this new environment of the three C's - customers, competitors, and change - firms must adapt to the changing needs of customers better than their competitors along such dimensions as quality, speed, flexibility, varity, and value. They must employ their resources, including investments in new product development, capital expenditures, and people, productively. Ultimately, to increase shareholder value a firm must yield a return to its shareholders in excess of its cost of capital. Unfortunately, many firm's performance models have not been sufficiently redesigned to meet the needs of today's environment. Many models primarily focus on measuring historical performance of internal operations, expressed in financial terms, performance of internal operations, expressed in financial terms, using as a basis of measurement a set of budgeted figures against which actual results are compared. Measures are also very detailed, running the risk of local optimization at the expense of what might be best for the firm as a whole. It has been sid that "you can't really understand a tennis match by just watching the scoreboard." These traditional models must be expanded to deal with the future as well as the past, with external relationships and events as well as internal activities, and with non-financial as well as financial measures(See Exhibit 1.). Proponents of the philosophy of total quality management (TQM) argue that focussing on leading indicators (such as market penetration, customer satisfaction, quality, speed, worder competence, and morale) leads to good numbers; the numbers directly may mortgage the future. In addition to the traditional, historical, internal financial measures that give the "score," performance measurement systems must focus on the future, on external relationships, and non-financial as well as financial measures. In an era of demanding markets and customers, strong competitors, and rapid change, getting signals in advance of events lets the firm adjust and take corrective action before actual financial results have been realized. This study is intended to accomplish principal purposes: it introduces a frame-work for performance indicators that reflects the customer-oriented, highly competitive, rapidly changing environment that many firms face. The performance indicators described are intended to be responsive to the needs of all levels of the firm, including top management, middle managers responsible for key business, a common framework may be tailored to the requirements of specific firms. Also this study describes the series of steps that a firm would take to implement a comprehensive performance indicator system. This study is generally addressed to senior managers and, more specifically, to management accountants so the they can as change agents and accelerate the implementation of new performance indicators in their companies. It helps the management accountant become a key contributor to the introduction and application of modern, user-friendly performance indicator practices. This study assumes an organization with some experience and awareness of performance measurement practices, and with an interest in introducing new performance indicator concepts. It is of necessity both descriptive and proscriptive. It defines performance indicator terms, concepts, and processes and presents a plan for building a strong commitment to implementing new performance indicators. The concepts in this study are structured to apply to: ·businesses that produce and sell a product or service; ·large and small organizations; ·enterprises in all business sectors; ·all stages in an enterprise's value chain; and ·all levels of management. Performance indicators are also useful for not-for-profit operations, including governments an regulated monopolies. Measuring, analyzing, and responding to performance indicators should help any organization ensure that in si doing the right

균형성과표(Balanced Scoredcard) 도입 방엔에 관한 연구(Ⅱ)

윤금상,유홍성 인하대학교 산업경제연구소 2002 경상논집 Vol.16 No.2

Open policies and mergers in the international market has requested many changes of the corporation business environment: and. the Internet is giving strong influences on corporate activities as well through various information technologies and the dispersal of e-business. Such developments demand for a conversion in business paradigms from a physical commodities production paradigm. centered on materialism. to the formless information business paradigm. centered on knowledge and creativity. As the same formless assets are perceived as an essential success factor for an enterprise, a need for a united and reflective result measuring system was produced. Following the requirement of the changing business environment, corporations included not only the financial matters but also the non-financial matters. showed human relations in each and every result measurements. considered long-term goals and strategic concerns as opposed to only short-term goals. converted management methods from result-oriented to process-oriented, and included all detailed activities to introduce and execute a suitable result measuring system that forced a unified agreement between goal. strategy. and vision. known as the Balanced Score Card or BSC. The purposes of the research were to carefully take a look at the effects the introduction of BSC has on corporate output. to find out the adaptation suitabilities of the new BSC result assessment system, and to present adaptation plans by an analysis of actual proof records from comparisons of system introduced corporations and non-introduced corporations. By mainly taking a look at the details of the actual proof from a comparison of system introduced companies and a non-introduced companies and the divided analysis (ANOV A) of their Enterprise Value Growth. Profitability. Growth, and Stability, the effect of BSC in coporate output can be researched. Perhaps this analysis may provide significant results to support the introduction of BSC. Research through actual proof analysis showed results as follows: Firstly, the Enterprise Value Growth Rate for system introduced companies showed a higher figure in post introduction state than in pre-introduction state. Secondly, the Current Rate for the system introduced companies showed a higher ratio to that of the non-introduced companies and so BSC proves to be supportive in maintaining corporate stability. Thirdly. the fact that BSC was not able to record any affect on Return on Asset Rates and Short Term Net Profit Growth Rate is due to the fact that one year adaptation does not show any results; however, a continuous improvements in a long term will show its necessity. Fourthly. the reason why no differences were recorded between system introduced companies and non-introduced companies is that the introduced companies' output took a turn for the worse and adapted BSC as a renovation tool but BSC's affects have not yet shown. Fifthly. adaptation of BSC showed a notable relationship with the Current Rates but the cause for BSC not being able to affect the Total Return on Asset Rate and Short-Term Net Profit Rate is that the BSC introduced corporations want to maintain business management that prioritizes growth to stability in a bear market. Research details similar to this will present successful directions for BSC introduction.

원가기획모형에 관한 연구

윤금상 인하대학교 산업경제연구소 1998 경상논집 Vol.12 No.1

Target cost management or TCM is concerned with simultaneously achieving a target cost along with planning, development and detailed design of new products by using methods such as a value engineering(VE). Through many researches, some following common features of the objectives, tools and processes of TCM practice in Japanese companies have been observed. Firstly, TCM has come to be applied in process industries as well as in assem-bly industries. Secondly, TCM has multiple objectives of cost reduction, quality assurance, timely introduction of new products into the market, and product development to attract customers. Thirdly, simultaneous engineering is a key concept of TCM. Fourthly, adjustment between allowable costs and forecasted actual costs is a popular practice in setting target costs. Fifthly, TCM activities are monitored even during mass-production to promote continuous improvement. Lastly, cooperation with suppliers is one of the most important factors for the successful transfer of TCM to foreign subsidiaries. However, the diversity of TCM practice has been also observed. Of course, this diversity has not been satisfactorily explained from a theoretical point of view. TCM is not merely a costing system; rather it is an activity which is aimed at reducing the life-cycle costs of new products, while ensuring quality, reliability, and other customer requirements, by examining all ideas for cost reduction at the product planning, research and development process. However, TCM also has its dysfunctional aspects. Fist of all, TCM activities should be socially and environmentally conscious. In today's Japanese society, for example, annual working hours are much longer than in western countries and product development periods are much shorter. These statistics allow us to recognize the dysfunctional effects of TCM. Designers and engineers engaged in TCM activities face strict time pressures. They become tired and exhausted through working long hours and being under severe time pressure. Also, many information systems(TCM support systems or strategic information systems) are indispensable tools for supporting TCM activities. There is a great opportunity to combine strategic cost analysis, quality costing, product life-cycle costing and activity-based costing into a TCM framework. If this is possible, as seems likely, TCM could obtain the status of a comprehensive cost management programme.

부가가치정보의 보고에 관한 연구

윤금상 한국생산성학회 1995 生産性論集 Vol.10 No.1

부가가치정보의 유용성분석

윤금상 한국생산성학회 1992 生産性論集 Vol.6 No.1

DEA를 이용한 국내 주요 사립대학 병원의 경영 효율성 분석

윤금상,신승권,한하늘 한국경영교육학회 2009 경영교육연구 Vol.55 No.-

The purpose of this study is to analyze the efficiency of major 21 private university hospitals in korea by Data Envelopment Analysis. The results of DEA analysis showed private university hospitals were not efficient by CCR model, and that mostly because of scale inefficiency. Especially, hospitals at national capital region were relatively efficient than hospitals at non-national capital region by CCR, BCC, BFG model. A subsequent analysis of wilcoxon rank-sums test revealed that operating margin to gross revenues, wages to gross revenues, debt to total assets, crrent ratio were statistically significant between efficient and inefficient private university hospitals. 본 연구에서는 DEA를 이용하여 최근 대형화 추세에 있는 국내 21개 주요사립 대학 병원들의 효율성을 분석하였으며, 추가로 효율적 병원군과 비효율적 병원군 간의 수익성, 안전성에 관한 집단 간 차이검증을 실시하였다. 실증 결과 국내 주요 사립대학 병원들은 기술효율성 측면에서 효율적이지 못하였으며, 이러한 비효율성 은 수도권 내 사립대학 병원들은 상대적으로 규모의 비효율성에 기인하는 것으로 분석되었고, 이에 비해 비수도권 내 사립대학 병원들은 순수기술효율성에 기인하는 것으로 분석되었다. 따라서 수도권 내 사립대학 병원들은 효율성을 제고하기 위하 여 규모의 효율성을 보다 제고해야 할 것으로 여겨지며, 그런 점에서 최근 수도권 내 주요 사립대학 병원들의 지속적인 대형화는 병원의 효율성을 더욱 저하시킬 가 능성이 높아 다소 우려스럽다. 반면 비수도권 내 사립대학 병원들은 순수기술효율 성, 즉 인력수와 병상수의 운영 효율성을 보다 제고해야 할 것으로 사료된다. 특히 DEA 모든 분석 모형에서 수도권 내 위치한 사립대학 병원들보다 비수도권 내 위 치한 사립대학 병원들의 효율성이 떨어지는 것으로 분석되어 비수도권 지역 내 사 립대학 병원들은 경영효율성을 제고하기 위한 보다 많은 노력들이 필요할 것으로 사료된다. 또한 비모수 차이검증을 통해서도 실증되었듯이 비효율적 병원군은 의료 수익 대비 의료이익이 낮고 인건비 비중은 높아 이에 대한 적절한 관리 조치가 필 요하며 동시에 타인자본 의존도가 높고, 유동성이 낮아 적절한 위험관리에도 각별 한 관심이 요구된다.

ABC시스템과 EVA시스템의 통합

윤금상 인하대학교 산업경제연구소 2000 경상논집 Vol.14 No.2

One of the most important strategic purposes of any corporation is to create economic value for customers, employees, and shareholders. Creating economic value for shareholders requires allocating, managing, and redeploying scare capital to its most profitable use. For internal management information systems to serve the best interests of both shareholders and managers, the must identify, collect, and routinely report the information that is critical to making decisions about resource allocations. Activity-Based Costing(ABD) and Activity-Based Management(ABM) systems have proved their usefulness in tracking activity costs, improving the accuracy of product costing, and reporting on critical financial and nonfinancial performance measures. Although ABE and ABM systems have contributed much to improving the management of operating costs, they have ignored the balance sheet. Traditional ABC and ABM systems fail to account for the full cost of capital. Activity and product costs are therefore understated. This article presents a cost and performance measurement system that integrates ABC with EVA financial performance measure. This proposed ABC and EVA system is a management support tool for managing costs and capital. The integrated ABC and EVA system includes the rate of resource consumption(like traditional ABC), but it also includes capital demand. Implementation steps are illustrated. And a traditional ABC system is compared with an integrated ABC and EVA system by examining the cost for activity at the first stage. A firm's capital information is then transformed into transparent capital charges using activity-capital dependence analysis. Changes to the end-product costs and possible changes to corporate strategies and business performance in the proposed ABC and EVA system are discussed. The proposed ABC and EVA system will be an improved cost management system that help managers focus on all the necessary elements of creating shareholder value, including both the management of costs and the management of capital.