공공의존도가 원자력 발전산업 중소기업의 재무성과에 미치는 영향

Abstract

This study analyzed the effect of public dependency on the financial performance of Small and Medium-sized Enterprises (SMEs) in the domestic nuclear power industry. Utilizing the financial indicators and customer data of 94 SMEs, a cross-sectional multiple regression model was applied, and differences according to firm size, capital structure, and industry type were also examined. The results of the study indicated that the key factors determining financial performance were the characteristics of the firm's size, capital structure, and industry, rather than public dependency itself. In particular, a new finding of this study is that public dependency showed a statistically significant negative (-) relationship not only with profitability indicators such as Return on Assets (ROA) and Return on Equity (ROE), but also with efficiency and activity indicators like total asset turnover and equity turnover. As existing studies have mostly evaluated the financial performance related to customer concentration based on profitability criteria, this study can contribute to expanding the scope of future research on customer dependency. This study examines the public dependency of SMEs and suggests the need for differentiated support policies based on firm size and industry type. Keywords : Public Dependency, SMEs, Profitability, Efficiency, Nuclear Power Industry