하나님의 선교와 교회의 선교

전호진 한국복음주의신학회 1984 성경과신학 Vol.2 No.-

중국기업의 M&A 정보우위와 투자 성과 -하이테크 기업을 중심으로-

전호진 한국동북아경제학회 2022 동북아경제연구 Vol.34 No.3

This study examined how the M&A of high-tech companies in China and the return on investors before M&A public announcement, effectiveness. Abnormal return before M&A Announcement showed stable positive (+) characteristics for -20 days of Announcement. On the other hand, the Abnormal return before the effectiveness of the M&A continued to decline as the execution date approached. Regarding the volume turnover, the volume turnover on the -20th day of the announcement was the highest, and it showed a characteristic that it decreased over time and then increased again on the announcement date. Regarding the Industry similarity between the acquiring company and the acquired company, in relation to the abnormal return before M&A disclosure, M&A between different types was higher than M&A between the same type. From the -20th to the -17th before the announcement date, the transaction volume of M&A between similar companies was rather high. but the difference in transaction volume decreased significantly as the disclosure date approached. The Abnormal return on Industry similarity prior to the effectiveness of M&A was higher than that of different type M&As from -20 days to –15 days.

High-Tech 중국기업의 M&A와 재무성과

전호진 한국동북아경제학회 2020 동북아경제연구 Vol.32 No.1

This study examines the impact of M&A on financial performance on high-tech companies in China. When it comes to the profitability of the acquisition firm since M&A, ROE and ROI have declined, but rate of operating profits and net profit margin have shown a rise. Regarding stability, the debt ratio has risen since M&A, while the current ratio, quick ratio has been on the decline. In terms of growth, the size of the total assets since M&A was significantly expanded and the value of firms was characterized by a constant decline. Based on these results, the M&A of China's High-Tech Firms had a negative impact on debt and firms value, but a positive impact in terms of profitability, growth.

사외이사 특성과 주식성과 : KOSDAQ, NASDAQ IPO기업을 중심으로

전호진 대한경영정보학회 2010 경영과 정보연구 Vol.29 No.1

본 연구는 국내와 미국 IPO기업을 대상으로 이사회내의 사외이사의 특성, 사외이사에 대한 보상 등이 기업공개 후 누적비정상 수익률에 어떠한 영향을 미치는지를 실증분석하고 있다. 본 연구를 통해 아래의 흥미로운 결과를 도출할 수 있었다. 첫째, KOSDAQ기업의 사외이사의 연령과 누적비정상수익률(CAR)간에는 유의한 관계가 나타나지 않은 반면 NASDAQ 기업에서는 유의한 양의 관계를 도출할 수 있었다. 또한 50대 초과 사외이사 그룹은 50대 이하 그룹보다 기업가치에 긍정적인 영향을 미친다는 것을 도출할 수 있었다. 둘째, 사외이사의 학력과 국내 KOSDAQ기업의 CAR간에는 통계적으로 유의한 결과는 도출할 수 없었다. 그러나 미국기업의 경우에는 대체로 학력이 높을수록 기업가치에 긍정적인 영향을 미침을 발견할 수 있었다. 셋째, 사외이사의 경력과 관련해서는 전문성과 대표이사 경험을 보유한 사외이사가 회색이사 그룹 군에 비해 기업가치에 긍정적인 영향을 준다는 것을 살펴볼 수 있었다. 마지막으로, 사외이사의 보수와 기업가치 간의 관계에 있어서는 한국기업의 경우 유의하지 않은 음(-)의 관계를 보였으나 미국기업의 경우에는 양(+)의 유의한 관계를 도출할 수 있었다. 특히, 미국기업의 경우 사외이사의 Stock Option과 누적비정상 수익률 간에는 유의한 양(+)의 관계를 보이고 있어 이러한 결과로 유추해 볼 때 사외이사의 Stock Option이 기업가치 상승에 긍정적인 영향을 미치고 있음을 살펴볼 수 있었다.

미국 IPO 중국기업의 이사회 및 사외이사 구성이 재무성과에 미치는 영향

전호진 한국동북아경제학회 2017 동북아경제연구 Vol.29 No.2

This paper analyze the composition and characteristic of outside directors, board on financial performance of U.S IPO china firms In terms of board size, the negative relationship could be found with financial performance. Those results Proves that large board couldn´t positive influences on financial performance. Found that had positive relation between ROE, ROIC and scale of outside director by firm size. In terms of profitability, found that scale of outside director has negative relation with NYSE china firms, but positive relation with NASDAQ china firms. Outside director ratio has significant negative results with financial performance. Through these results, can infer that independent board system has not served any useful purpose. In relation to outside directors´ characteristics, the average age of board didn´t have much effect financial performance. except negative relation with current ratio and quick ratio. Regard to the period of service, outside director´s period of service may have significant minus coefficient signs in relation to performance. From the results can be inferred that the longer period of service, the probability of grey outside director is increase. Lastly, couldn’t find significant results relation with appointment U.S. outside directors.

물류기업의 종업원 보상 활동과 경영성과

전호진 K기업경영연구원 2022 KBM Journal(K Business Management Journal) Vol.6 No.1

This study analyzed the effect of employee compensation and welfare benefits of logistics companies on business performance. There was a positive (+) relationship between total wage level, retirement benefit, welfare expenditure and operating income to sales, but a negative (-) relationship between labor cost and operating income to sales. Regarding the safety indicators, negative (-) results were shown for the debt ratio and current ratio. These results showed similar results in the results of total wage level, retirement benefit, and welfare expenditure controlled by sales. The relationship between the increase rate of employee compensation and welfare expenditure and business performance showed the same results as the previous absolute compensation and welfare expenditure. In particular, the increase in welfare-related spending had a positive effect on overall business performance. It had a negative effect on the safety index, but a positive effect on the growth potential. Regarding the effect of welfare-related expenditure, the expansion of welfare expenditure showed positive (+) results with profitability with a one-year time lag, and growth indicators also showed positive (+). Finally, it was found that when the net profit of a logistics company rises, employee compensation and welfare expenditure after 1year expand. Through the results of this study, it is believed that it will be appreciated that corporate employee compensation has a positive effect on long-term corporate growth.

재무적 성과 및 제약이 설비투자에 미치는 영향: 국내 물류기업을 중심으로

전호진,김영민,홍의 사회혁신기업연구원 2023 혁신기업연구 Vol.8 No.4

This study examined the impact of financial constraints on Plant and equipment investment for domestic logistics companies. As a research methodology, the relationship between a company's financial performance and facility investment variables was derived through multiple regression analysis. The higher the profitability of the company, the larger the size of Plant and equipment investment, which is judged to be easier to raise investment funds. Regarding financial stability, positive results were shown between the debt ratio, Leverage level, and Plant and equipment investment. It is thought that the dependence on borrowing is high as an investment resource for logistics companies that require a lot of funds. There was a positive (+) result between liquidity and Plant and equipment investment. This is believed to promote Plant and equipment investment when the proportion of available cash is high. There was a positive (+) result between growth indicators and Plant and equipment investment, and the higher the foreign ownership, the lower the size of Plant and equipment investment. Foreign investors are believed to prefer dividends to Plant and equipment investment. A negative (-) result was derived between Tobin'Q, a proxy variable for firms value, and Plant and equipment investment, which can be inferred that the expansion of Plant and equipment investment increases the Replacement cost of the denominator's assets, which eventually leads to a decrease in Tobin'Q.

러시아 에너지 기업의 경영성과와 국제유가

전호진 한국동북아경제학회 2018 동북아경제연구 Vol.30 No.2

The study conducted an empirical analysis of Russian energy companies to see how changes in international oil prices and their rate of change affect their performance in business. An empirical analysis has resulted in a significant positive(+) result between Brent Oil price and operating profit growth rates. Analysis of large sized energy companies also resulted in significant positive (+) results between BRENT oil prices and net income ratio, net sales growth rate. A significant negative (-) result was generally obtained between the exchange rate and the performance. A significant positive(+) result was between BRENT price volatility and rate of operating profits, net profit margin, net sales growth rate, rate of cost to selling price. but negative (-) result with debt ratio, ROE. Among Russian energy companies, The performance of big businesses was higher than that of small businesses. A T-test was conducted based on the 2008 financial crisis. Russian companies ‘performance could be seen as a sharp decline after the crisis.

물류기업의 종업원에 대한 경제적 보상과 기업성과의 관계

전호진,홍의,김영민 한국국제상학회 2022 國際商學 Vol.37 No.3

본 연구는 국내 물류기업을 대상으로 종업원에 대한 경제적 보상이 기업의 경영성과에 어떠한 영향을 미치는지를 분석하고자 하였다. FnGudie와 Kisline의 DB를 통해 물류기업의 재무 데이터를 확보하였으며, 다중회귀분석과 T-검정을 실시하여 종업원의 경제적 보상과 기업성과의 관계 및 기업규모에 따른 경제적 보상의 차이를 확인하였다. 경제적 보상은 인건비, 퇴직급여, 복리후생비, 종업원 증가율, 임원과 직원 간의 임금 격차, 평균 근속 년수를, 기업성과는 수익성, 안정성, 성장성 지표를 각각 활용하였다. 물류기업의 인건비 증가율은 수익성과 안정성에 긍정적인 영향을 미쳤으며, 복지 관련 지출의 증가는 매출과 순이익에 긍정적인 영향을 미치는 것으로 나타났다. 특히 순이익의 증가는 종업원의 평균 근속기간의 증가에 긍정적인 영향을 미쳤으며, 판매관리비와 경제적 보상 변수인 퇴직급여, 복리후생비, 고용의 증가와는 양(+)의 유의한 결과가 확인되었다. 또한 기업 규모에 따른 종업원의 경제적 보상 수준의 차이는 퇴직급여, 복리후생비 증가율에 있어서 명확한 차이를 보이지 않았으나 고용증가율, 임원과 종업원 간 임금 격차, 평균 근속 기간에 있어서는 규모가 큰 기업이 상대적으로 높게 나타났다. 물류기업은 종업원과의 이익 공유를 통하여 직무 만족도 향상, 물류서비스 개선, 전문인력의 확보, 안전사고의 감소, 생산성의 증가 등을 도모하고, 궁극적으로 경영성과의 개선에 기여할 수 있도록 해야 한다.

종교다원주의 선교 변증학

전호진 한국복음주의선교신학회 2004 복음과 선교 Vol.4 No.-