지방공기업의 부가가치생산성과 재무비율과의 관계 분석
The effects of the financial ratios on value added productivity in local public enterprises
0
조회
0
다운로드
19
인용
0
참고문헌
키워드
초록
As the ultimate goal of the local public enterprises changes from profit maximization to the value maximization, managers come to have an interest in the local community's value. Value added is useful tool that can help a company achieve greater conduction to the society in the current dynamic and competitive business environment. Value added concept is now considered one of the key indices of the Valuation of Local Public Enterprises. Using the local public enterprises listed in the Ministry of Public Administration and Security between 2007 and 2009, We have examined the effects of the various financial ratios on Value Added Productivity. The Dependent variable is value added productivity, the independent variables are financial ratios. In summary, The effective determinants of value added productivity are the total asset turnover, the current assets turnover, non-current assets turnover. Value added productivity is the better proxy representing the real value than accounting earnings, especially in case of the local public enterprises.
Abstract
As the ultimate goal of the local public enterprises changes from profit maximization to the value maximization, managers come to have an interest in the local community's value. Value added is useful tool that can help a company achieve greater conduction to the society in the current dynamic and competitive business environment. Value added concept is now considered one of the key indices of the Valuation of Local Public Enterprises. Using the local public enterprises listed in the Ministry of Public Administration and Security between 2007 and 2009, We have examined the effects of the various financial ratios on Value Added Productivity. The Dependent variable is value added productivity, the independent variables are financial ratios. In summary, The effective determinants of value added productivity are the total asset turnover, the current assets turnover, non-current assets turnover. Value added productivity is the better proxy representing the real value than accounting earnings, especially in case of the local public enterprises.
참고문헌 (40)
- 강철승, "부가가치정보의 회계학적 측정과 이용: 기업부실 예측을 중심으로", 박사, 경영학과, pp.1990
- 강효석, "투자성과지표로서의 EVA의 유용성에 관한 실증연구", 재무관리연구, 14(3), pp.1~21 (1997), 한국재무관리학회
- 김승용, "부가가치 구성요소의 비대칭성에 관한 연구", 국제회계연구, (35), pp.49~70 (2011), 한국국제회계학회
- 김응한, "상장기업 EVA분석" (1998), 한국증권거래소
- 김철중, "경영성과지표로서의 경제적 부가가치의 유용성에 관한 연구", 재무관리논, 2(1), pp.101~126 (1995), 한국재무학회
- 박수웅, "부가가치성장성분석에 관한 연구", 상경연구, 11, pp.43~59 (1995), 경성대학교
- 신산업경영원, "한국 대기업그룹 재무분석" (2010)
- 양동우, "EVA와 제 기업평가지표의 비교연구: 한국제조기업을 중심으로", 증권･금융연구, 4(1), pp.81~110 (1998)
- 변종국, "기업가치에 대한 경제적 부가가치의 유용성", 경영연구, 19(4), pp.219~242 (2004), 한국산업경영학회
- 이종곤, "기업의 재무적 특성이 노동부가가치생산성에 미치는 영향", 사회과학논집, 21, pp.345~359 (1994), 대전대학교 사회과학연구소
- 이해영, "한국자동차산업에서 외국인직접투자기업의 경제적부가가치 파급효과에 관한 패널자료분석", 경영교육연구, (55), pp.269~289 (2009), 한국경영교육학회
- 정종암, "현대재무회계이론" (2000), 박영사
- 지 청, "현대재무관리론" (1986), 무역경영사
- 한국기술가치평가협회, "기술･기업가치평가 용어사전" (2002)
- 정기웅, "기업경영분석" (2010), IB Book
- 한국생산성본부, "상장기업의 부가가치분석" (2010)
- 행정안전부, "지방공기업의 결산 및 경영분석" (2010)
- 황동섭, "EVA와 기업가치", 회계논총, 1(1), pp.61~73 (1999), 한국비교회계학회
- 宮本憲一, "都市經濟論: 共同生活條件の政治經濟學" (1980), 筑摩書房
- 山本秀雄, "公企業論" (1986), 日本評論社
- 日本經濟新聞出版社, "企業の財務指標" (2008), 日本經濟新聞出版社
- 日本中小企業廳, "中小企業の財務指標" (2004)
- 占部都美, "公共企業體論" (1969), 森山書房
- 後藤弘, "附加價値分析入門" (1977), 日本能率協會
- Altman,E.I, "Financial Ratio, Discriminant Analysis and the Prediction of Corporate Bankruptcy", Journal of Finance, 23(4), pp.593~597 (1968)
- Backer,Morton, "Modern Accounting Theory" (1966), Prentice Hall
- Bellemore, D. H, "Investment: Principles, Practice and Analysis. 4th ed", pp.447~463 (1974), South-Western Publishing Co
- Chen, K. H, "An Empirical Analsis of Useful Financial Ratios", Financial Management, 10(봄), pp.51~60 (1981)
- Clemens,E.W, "Economics and Public Utilities" (1950), Appleton-Century - Crofts
- Drucker,Peter F, "Management: Task, Responsibility, and Practice" (1974), Book Center
- Hendricksen,Eldon S, "Accounting Theory" (1982), Richard D. Irwin, Inc
- Horne,J.Van, "Financial Management and Policy. 5th ed.", pp.711~741 (1980), Prentice-Hall
- Mcnett, Jeanne, "The Blackwell Encyclopedia of Management" (2005), Blackwell Publishing
- Morley,Michael F, "The Value Added Statement: A Review of its Use in Corporate Reports" (1978), Gee & Co
- Ohlson,James A, "Earnings, Book Values and Dividend in Equity Valuations", Contemporary Accounting Research, 11(2), pp.663~665 (1995)
- Paton, W. A, "An Introduction to Corporate Accounting Standard" (1940), The Ronald Press Company
- Ruggles, R, "National Income Accounts and Income Analysis" (1975), McGraw-Hill
- The Corporate Report, "U.K. Accounting Standards Steering Committee", England Institute of Chartered Accountants of England and Wales, ~ (1975)
- Uyemura, D. G, "EVA for Banks: Value Creation Risk Management and Profitability Measurement", Journal of Applied Corporate Finance, 13(2), pp.94~113 (1996)
- Weston,J.Fred, "The Scope and Methodology of Finance" (1996), Prentice-Hall