Pub Date : 2020-12-30DOI: 10.32956/kaoca.2020.18.2.75
The loan loss provision standard has been changed to the incurred loss model since the introduction of K－IFRS in 2011 and the expected loss model again from 2018. In the banking business, loan receivables account for more than 70% of total assets, so the change in the provision for bad debt has a great impact on capital and net income. First, this study compared and analyzed the stock price explanatory power of the disclosure of net income after adjustment and net income due to the change in the standard for loan loss provision for loan receivables for the banking business. As a result of the analysis, there was no significant difference in share price explanatory power between capital and net income before and after the reflection of the bad debt reserve. In other words, information users did not reflect the difference between net income before credit loss reserves and post－adjusted net income in the stock price. Second, when analyzed by dividing into the period for applying the incurred loss model and the period for applying the expected loss model, the explanatory power in the incurred loss model period was less than the entire period. And explanatory power increased significantly during the expected loss model period than during the entire period. This means that the capital and net income of the expected loss model period are more useful information to explain the stock price than the capital and net income of the incurred loss model period. In addition, the explanatory power of the adjusted net income was greater during the incurred loss model period, but there was no difference in the explanatory power of the stock price before and after the credit loss reserve was reflected during the application period of the expected loss model. This means that the bad debt reserve information is more useful in the incurred loss model than in the expected loss model.
{"title":"A Study on Information Usefulness according to the Change of the Standard for Bad Debts Provision in Banking Business","authors":"","doi":"10.32956/kaoca.2020.18.2.75","DOIUrl":"https://doi.org/10.32956/kaoca.2020.18.2.75","url":null,"abstract":"The loan loss provision standard has been changed to the incurred loss model since the introduction of K－IFRS in 2011 and the expected loss model again from 2018. In the banking business, loan receivables account for more than 70% of total assets, so the change in the provision for bad debt has a great impact on capital and net income. First, this study compared and analyzed the stock price explanatory power of the disclosure of net income after adjustment and net income due to the change in the standard for loan loss provision for loan receivables for the banking business. As a result of the analysis, there was no significant difference in share price explanatory power between capital and net income before and after the reflection of the bad debt reserve. In other words, information users did not reflect the difference between net income before credit loss reserves and post－adjusted net income in the stock price. Second, when analyzed by dividing into the period for applying the incurred loss model and the period for applying the expected loss model, the explanatory power in the incurred loss model period was less than the entire period. And explanatory power increased significantly during the expected loss model period than during the entire period. This means that the capital and net income of the expected loss model period are more useful information to explain the stock price than the capital and net income of the incurred loss model period. In addition, the explanatory power of the adjusted net income was greater during the incurred loss model period, but there was no difference in the explanatory power of the stock price before and after the credit loss reserve was reflected during the application period of the expected loss model. This means that the bad debt reserve information is more useful in the incurred loss model than in the expected loss model.","PeriodicalId":246190,"journal":{"name":"Korean Association Of Computers And Accounting","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130541938","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-30DOI: 10.32956/kaoca.2020.18.2.157
We analyze the relation between debt constraint, asymmetric cost behavior and enterprise R&D(Research and Development) investment using 4172 Chinese listed companies in 2012－2016. The analyzed results show that debt constraint is negatively correlated with R&D investment, and cost stickiness is positively correlated with R&D investment. Cost stickiness has a significantly negative moderating effect between debt constraint and R&D investment. These result indicate that the debt constraint of a company can restrict the level of R&D investment, but the asymmetric cost behavior can improve the level of R&D investment. In another word, the asymmetric cost behavior can decrease the negative effect of debt constraint on R&D investment. We divided companies as state－owned companies and non－state－owned companies, and found that the relation between the cost stickiness and R&D investment is significant for non－state－owned companies, but not significant for state－owned companies. This paper reveals the positive economic consequences of cost stickiness and provides a new perspective for alleviating the impact of debt constraint on R&D investment.
{"title":"부채제약, 비대칭적 원가행태, 연구개발 투자의 관련성","authors":"","doi":"10.32956/kaoca.2020.18.2.157","DOIUrl":"https://doi.org/10.32956/kaoca.2020.18.2.157","url":null,"abstract":"We analyze the relation between debt constraint, asymmetric cost behavior and enterprise R&D(Research and Development) investment using 4172 Chinese listed companies in 2012－2016. The analyzed results show that debt constraint is negatively correlated with R&D investment, and cost stickiness is positively correlated with R&D investment. Cost stickiness has a significantly negative moderating effect between debt constraint and R&D investment. These result indicate that the debt constraint of a company can restrict the level of R&D investment, but the asymmetric cost behavior can improve the level of R&D investment. In another word, the asymmetric cost behavior can decrease the negative effect of debt constraint on R&D investment. We divided companies as state－owned companies and non－state－owned companies, and found that the relation between the cost stickiness and R&D investment is significant for non－state－owned companies, but not significant for state－owned companies. This paper reveals the positive economic consequences of cost stickiness and provides a new perspective for alleviating the impact of debt constraint on R&D investment.","PeriodicalId":246190,"journal":{"name":"Korean Association Of Computers And Accounting","volume":"83 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133545258","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-30DOI: 10.32956/kaoca.2020.18.2.99
The impact of foreign capital on the stability of Chinese Banks is expected to expand in 2018, when the government lifted restrictions on foreign ownership of Chinese commercial Banks. The purpose of this study is to study the influence of foreign shareholding ratio on the stability of Chinese commercial Banks. This paper analyzes the influence on the stability of China’s commercial Banks by the types of commercial Banks (state－owned commercial Banks, joint－stock commercial Banks, and city commercial Banks). From 2008 to 2019, 16 commercial Banks (5 state－owned commercial Banks, 6 joint－stock commercial Banks, and 5 urban commercial Banks) were taken as the objects, and the STATA statistical program was used to analyze them with linear regression model and fixed effect regression model. The analysis results show that the shareholding ratio of foreign investors has a negative impact on the stability of China s commercial Banks. According to the survey, state－owned commercial Banks have a positive (＋) effect on stability, and a negative (－) effect on joint－stock commercial Banks and urban commercial Banks. Therefore, the management team of Chinese commercial Banks should adopt differentiated strategies to attract foreign capital according to different types of commercial Banks.
{"title":"The Influence of Foreign Shareholding Ratio on the Stability of Chinese Commercial Banks","authors":"","doi":"10.32956/kaoca.2020.18.2.99","DOIUrl":"https://doi.org/10.32956/kaoca.2020.18.2.99","url":null,"abstract":"The impact of foreign capital on the stability of Chinese Banks is expected to expand in 2018, when the government lifted restrictions on foreign ownership of Chinese commercial Banks. The purpose of this study is to study the influence of foreign shareholding ratio on the stability of Chinese commercial Banks. This paper analyzes the influence on the stability of China’s commercial Banks by the types of commercial Banks (state－owned commercial Banks, joint－stock commercial Banks, and city commercial Banks). From 2008 to 2019, 16 commercial Banks (5 state－owned commercial Banks, 6 joint－stock commercial Banks, and 5 urban commercial Banks) were taken as the objects, and the STATA statistical program was used to analyze them with linear regression model and fixed effect regression model. The analysis results show that the shareholding ratio of foreign investors has a negative impact on the stability of China s commercial Banks. According to the survey, state－owned commercial Banks have a positive (＋) effect on stability, and a negative (－) effect on joint－stock commercial Banks and urban commercial Banks. Therefore, the management team of Chinese commercial Banks should adopt differentiated strategies to attract foreign capital according to different types of commercial Banks.","PeriodicalId":246190,"journal":{"name":"Korean Association Of Computers And Accounting","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121529888","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-30DOI: 10.32956/kaoca.2020.18.2.55
The purpose of this study is to examine the relationship between the cost of capital of a company according to managers’ tendency to overconfidence, and to examine the relationship between the cost of capital according to the high and low of earning’s quality. The research sample is a sample of manufacturing industries listed on the securities market with a 10－year research period. The empirical analysis results are as follows. First, the model of setting cost of equity as a dependent variable shows that the higher the overconfidence tendency of the manager, the higher the cost of equity. And even in the model with the cost of debt as a dependent variable, the higher overconfidence tendency of the manager, the higher the cost of capital, thus supporting Hypothesis 1. Second, in the model using the cost of equity as a dependent variable, the cost of capital was found to be high in the case of a company with a large discretionary accrual and a high overconfidence tendency of the manager. It was interpreted that the higher earning’s quality, the lower the capital cost due to overconfidence tendency of the manager. However, when the dependent variable was set as the cost of debt, the hypothesis was not supported because the significance of the variable was not confirmed. Therefore, it was concluded that Hypothesis 2 partially supported the hypothesis. This study is significant in that a variety of topics related to managerial overconfidence propensity are being studied recently, of which cost of capital and overconfidence tendency of the manager are newly grafted and studied. The limitation of the study is that it does not have more sophistication in measuring the cost of capital.
{"title":"A Study on Manager Overconfidence and Capital Cost","authors":"","doi":"10.32956/kaoca.2020.18.2.55","DOIUrl":"https://doi.org/10.32956/kaoca.2020.18.2.55","url":null,"abstract":"The purpose of this study is to examine the relationship between the cost of capital of a company according to managers’ tendency to overconfidence, and to examine the relationship between the cost of capital according to the high and low of earning’s quality. The research sample is a sample of manufacturing industries listed on the securities market with a 10－year research period. The empirical analysis results are as follows. First, the model of setting cost of equity as a dependent variable shows that the higher the overconfidence tendency of the manager, the higher the cost of equity. And even in the model with the cost of debt as a dependent variable, the higher overconfidence tendency of the manager, the higher the cost of capital, thus supporting Hypothesis 1. Second, in the model using the cost of equity as a dependent variable, the cost of capital was found to be high in the case of a company with a large discretionary accrual and a high overconfidence tendency of the manager. It was interpreted that the higher earning’s quality, the lower the capital cost due to overconfidence tendency of the manager. However, when the dependent variable was set as the cost of debt, the hypothesis was not supported because the significance of the variable was not confirmed. Therefore, it was concluded that Hypothesis 2 partially supported the hypothesis. This study is significant in that a variety of topics related to managerial overconfidence propensity are being studied recently, of which cost of capital and overconfidence tendency of the manager are newly grafted and studied. The limitation of the study is that it does not have more sophistication in measuring the cost of capital.","PeriodicalId":246190,"journal":{"name":"Korean Association Of Computers And Accounting","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127636003","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-30DOI: 10.32956/kaoca.2020.18.2.135
This study focuses on the valuation of loss firms because a loss places the firm in a temporary position：a return to profitability is the maintained hypothesis of financial reporting, embodied in the going－concern assumption. This study first develops a model to define subsamples of persistent and transitory losses. This paper shows that on average investors price transitory losses positively over the sample period, as if a transitory loss indicates a low likelihood of exercising the abandonment option. This study also observes that early in the sample period investors do not price persistent losses, as predicted by the abandonment option hypothesis. By contrast, later in the sample period, investors price persistent losses, inconsistent with the prediction of the abandonment option hypothesis. To understand why This study observes a change in the valuation of persistent losses over the sample period, This study analyzes the key role of R&D for their valuation. The evidence shows that investors do not price persistent losses without an R&D component, consistent with these losses indicating financial distress and a higher likelihood of exercising the abandonment option.
{"title":"The Valuation of Transitory and Persistent Losses as a Function of R&D","authors":"","doi":"10.32956/kaoca.2020.18.2.135","DOIUrl":"https://doi.org/10.32956/kaoca.2020.18.2.135","url":null,"abstract":"This study focuses on the valuation of loss firms because a loss places the firm in a temporary position：a return to profitability is the maintained hypothesis of financial reporting, embodied in the going－concern assumption. This study first develops a model to define subsamples of persistent and transitory losses. This paper shows that on average investors price transitory losses positively over the sample period, as if a transitory loss indicates a low likelihood of exercising the abandonment option. This study also observes that early in the sample period investors do not price persistent losses, as predicted by the abandonment option hypothesis. By contrast, later in the sample period, investors price persistent losses, inconsistent with the prediction of the abandonment option hypothesis. To understand why This study observes a change in the valuation of persistent losses over the sample period, This study analyzes the key role of R&D for their valuation. The evidence shows that investors do not price persistent losses without an R&D component, consistent with these losses indicating financial distress and a higher likelihood of exercising the abandonment option.","PeriodicalId":246190,"journal":{"name":"Korean Association Of Computers And Accounting","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114457533","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-30DOI: 10.32956/kaoca.2020.18.2.39
In the Fourth Industrial Age, non－contact marketing is active. This study analyzes the problem of real estate transfer income taxation in literature and suggests its improvement plan. According to the study, measures to improve the taxation of real estate transfer income are as follows. First, it is necessary to simplify the taxation system in the Fourth Industrial Age. Second, it is a shift in the taxable sense of real estate income. Real estate needs to be recognized as a tax on capital income as a source of long－term income generated by opportunity costs for personal assets. Third, the real estate tax policy should be implemented consistently. Taxpayers need to implement mid－to long－term predictable tax policies. In conclusion, the taxation of real estate transfer income is expected to improve the taxation system to protect the people’s property rights and to contribute to the participation of individual capital in economic activities.
{"title":"A Study on the Taxation of Real Estate Transfer Income in the Fourth Industrial Age","authors":"","doi":"10.32956/kaoca.2020.18.2.39","DOIUrl":"https://doi.org/10.32956/kaoca.2020.18.2.39","url":null,"abstract":"In the Fourth Industrial Age, non－contact marketing is active. This study analyzes the problem of real estate transfer income taxation in literature and suggests its improvement plan. According to the study, measures to improve the taxation of real estate transfer income are as follows. First, it is necessary to simplify the taxation system in the Fourth Industrial Age. Second, it is a shift in the taxable sense of real estate income. Real estate needs to be recognized as a tax on capital income as a source of long－term income generated by opportunity costs for personal assets. Third, the real estate tax policy should be implemented consistently. Taxpayers need to implement mid－to long－term predictable tax policies. In conclusion, the taxation of real estate transfer income is expected to improve the taxation system to protect the people’s property rights and to contribute to the participation of individual capital in economic activities.","PeriodicalId":246190,"journal":{"name":"Korean Association Of Computers And Accounting","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115390333","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-30DOI: 10.32956/kaoca.2020.18.2.1
This study analyzed the effect of the quality attributes (information quality, security quality, and user control) of computerized accounting programs on user satisfaction and continuous intention to use. The research subjects were users of the K computerized accounting program used in the tax office. There were 100 valid samples used for statistical analysis, and the collected data was tested for hypothesis using SPSS and the structural equation modeling program SmartPLS 3.0. The hypothesis test results are summarized as follows. First, the information quality of the computerized accounting program did not have a statistically significant effect on user satisfaction. Second, the security quality and user control of the computerized accounting program were found to have a statistically significant effect on user satisfaction. Third, among the quality attributes (information quality, security quality, and user controllability) of the computerized accounting program, there was no mediating effect of user satisfaction between information quality and continuous intention to use. On the other hand, among quality attributes, it was confirmed that security quality and user control had a mediating effect on continuous intention to use through user satisfaction. The results of this study are expected to provide developers of computerized accounting programs with development guidelines that can increase users’ satisfaction and continuous intention to use using them, and are expected to contribute to the development and growth of accounting practice.
{"title":"Relationship between the Quality of Computerized Accounting Program, User Satisfaction, and Continuous Intention to Use","authors":"","doi":"10.32956/kaoca.2020.18.2.1","DOIUrl":"https://doi.org/10.32956/kaoca.2020.18.2.1","url":null,"abstract":"This study analyzed the effect of the quality attributes (information quality, security quality, and user control) of computerized accounting programs on user satisfaction and continuous intention to use. The research subjects were users of the K computerized accounting program used in the tax office. There were 100 valid samples used for statistical analysis, and the collected data was tested for hypothesis using SPSS and the structural equation modeling program SmartPLS 3.0. The hypothesis test results are summarized as follows. First, the information quality of the computerized accounting program did not have a statistically significant effect on user satisfaction. Second, the security quality and user control of the computerized accounting program were found to have a statistically significant effect on user satisfaction. Third, among the quality attributes (information quality, security quality, and user controllability) of the computerized accounting program, there was no mediating effect of user satisfaction between information quality and continuous intention to use. On the other hand, among quality attributes, it was confirmed that security quality and user control had a mediating effect on continuous intention to use through user satisfaction. The results of this study are expected to provide developers of computerized accounting programs with development guidelines that can increase users’ satisfaction and continuous intention to use using them, and are expected to contribute to the development and growth of accounting practice.","PeriodicalId":246190,"journal":{"name":"Korean Association Of Computers And Accounting","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130531796","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-30DOI: 10.32956/kaoca.2020.18.2.21
This study started to diagnose the understanding and perception of ‘Computer Accounting’. For the analysis, the researcher tried to understand the deeper perception of respondents by using ‘Q－Methodology’, one of qualitative research methods. Accordingly, 30 Q－statements and the P samples of respondents secured 28 students who had computerized accounting experience. The perceptions of the P samples on the computer accounting were classified through the Q－sorting process and the following results were derived. First, as a result of diagnosing the perception of computer accounting, 4 types were derived, was named as 「Professional Education Emphasis Type」, was named as 「Publicity and Utilization Strength Type」, was named as 「Changing Environment Improvement Type」, was named as 「Linkage System Construction Type」. Second, in order to improve the usefulness of the Q methodology, the hypothesis that ‘the perception of computerized accounting will differ according to the individual characteristics of the respondents’ was discovered based on the analysis results. This study starts with the beginning of the recognition for the discovery and design of the hypothesis, and the future research is expected to expand the quantitative research of the hypothesis verification
{"title":"Typology of Computer Accounting Perception Using the Q－Methodology","authors":"","doi":"10.32956/kaoca.2020.18.2.21","DOIUrl":"https://doi.org/10.32956/kaoca.2020.18.2.21","url":null,"abstract":"This study started to diagnose the understanding and perception of ‘Computer Accounting’. For the analysis, the researcher tried to understand the deeper perception of respondents by using ‘Q－Methodology’, one of qualitative research methods. Accordingly, 30 Q－statements and the P samples of respondents secured 28 students who had computerized accounting experience. The perceptions of the P samples on the computer accounting were classified through the Q－sorting process and the following results were derived. First, as a result of diagnosing the perception of computer accounting, 4 types were derived, was named as 「Professional Education Emphasis Type」, was named as 「Publicity and Utilization Strength Type」, was named as 「Changing Environment Improvement Type」, was named as 「Linkage System Construction Type」. Second, in order to improve the usefulness of the Q methodology, the hypothesis that ‘the perception of computerized accounting will differ according to the individual characteristics of the respondents’ was discovered based on the analysis results. This study starts with the beginning of the recognition for the discovery and design of the hypothesis, and the future research is expected to expand the quantitative research of the hypothesis verification","PeriodicalId":246190,"journal":{"name":"Korean Association Of Computers And Accounting","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131859252","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-30DOI: 10.32956/kaoca.2020.18.1.61
Seol－Won Byun, Park Sang Bong
This study analyzes the relationship between managerial ability and investment efficiency for domestic companies. In addition, it analyzes how the relationship between managerial ability and investment efficiency differs depending on the Accounting quality and market competition intensity. This study conducted an analysis using 4,211 companies－years listed on securities from 2012 to 2018. The analysis results of this study are as follows. First, it was analyzed that there was a significant positive (＋) relationship between managerial ability and investment efficiency. This is the result of supporting the efficient contract hypothesis among the two mutually contradictory hypotheses proposed by Francis et al. (2008). Second, we found empirical evidence that the positive relationship between managerial ability and investment efficiency is amplified as the quality of reported profits and the intensity of industrial competition increase. These results indicate that the quality of reported profits and the strength of industrial competition play a role as a corporate internal and external governance mechanism, as pointed out in previous studies. In this study, in analyzing the relationship between investment efficiency and managerial competence, compared to the previous studies that considered only the quality of reported profits, this study considered not only the quality of reported profits, but also the industrial competitive strength, that is, the internal and external corporate governance mechanisms. In this respect, it has differentiation and significance.
{"title":"The Effect of Managerial Ability on Investment Efficiency: Focusing on the Accounting Quality and the Market Competition Intensity","authors":"Seol－Won Byun, Park Sang Bong","doi":"10.32956/kaoca.2020.18.1.61","DOIUrl":"https://doi.org/10.32956/kaoca.2020.18.1.61","url":null,"abstract":"This study analyzes the relationship between managerial ability and investment efficiency for domestic companies. In addition, it analyzes how the relationship between managerial ability and investment efficiency differs depending on the Accounting quality and market competition intensity. This study conducted an analysis using 4,211 companies－years listed on securities from 2012 to 2018. The analysis results of this study are as follows. First, it was analyzed that there was a significant positive (＋) relationship between managerial ability and investment efficiency. This is the result of supporting the efficient contract hypothesis among the two mutually contradictory hypotheses proposed by Francis et al. (2008). Second, we found empirical evidence that the positive relationship between managerial ability and investment efficiency is amplified as the quality of reported profits and the intensity of industrial competition increase. These results indicate that the quality of reported profits and the strength of industrial competition play a role as a corporate internal and external governance mechanism, as pointed out in previous studies. In this study, in analyzing the relationship between investment efficiency and managerial competence, compared to the previous studies that considered only the quality of reported profits, this study considered not only the quality of reported profits, but also the industrial competitive strength, that is, the internal and external corporate governance mechanisms. In this respect, it has differentiation and significance.","PeriodicalId":246190,"journal":{"name":"Korean Association Of Computers And Accounting","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114311251","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-30DOI: 10.32956/kaoca.2020.18.1.89
Kim Ji-Heon, J. C. Ho
The rural convergence industry means to create new added value by converging the secondary industries such as agricultural products processing and the tertiary industries such as experience and tourism based on the primary industries of agricultural production. Various types of government－supported projects have been promoted for agricultural management entities, but the reality is that the degree of self－reliance of rural convergence industry corporations is not high. And problems have been continuously raised, such as the existence of a large number of places receiving support. In this study, to analyze systematically the performance of existing support projects for 52 agricultural corporations that received government－supported projects related to rural industrialization, the financial statements of agricultural management entities were used to analyze profitability, stability, and growth and DEA efficiency analysis. It was carried out. The results of the analysis are as follows. First, it was found that the profitability and growth of agricultural corporations were generally good, while the financial condition of stability was weak. Second, the DEA efficiency analysis conducted sequentially based on the CCR and BCC models confirmed that there was a difference in efficiency depending on the type of government－funded projects. Based on the results of the analysis, the performance of government－supported projects for agricultural corporations and the degree of efficiency by type of support were confirmed, and the development direction and policy implications were suggested.
{"title":"Analysis of Management Performance for Development of Rural Convergence Industry: Focusing on Agricultural Management Entities of Government Supports for Rural Industrialization in Chungcheongnam－do","authors":"Kim Ji-Heon, J. C. Ho","doi":"10.32956/kaoca.2020.18.1.89","DOIUrl":"https://doi.org/10.32956/kaoca.2020.18.1.89","url":null,"abstract":"The rural convergence industry means to create new added value by converging the secondary industries such as agricultural products processing and the tertiary industries such as experience and tourism based on the primary industries of agricultural production. Various types of government－supported projects have been promoted for agricultural management entities, but the reality is that the degree of self－reliance of rural convergence industry corporations is not high. And problems have been continuously raised, such as the existence of a large number of places receiving support. In this study, to analyze systematically the performance of existing support projects for 52 agricultural corporations that received government－supported projects related to rural industrialization, the financial statements of agricultural management entities were used to analyze profitability, stability, and growth and DEA efficiency analysis. It was carried out. The results of the analysis are as follows. First, it was found that the profitability and growth of agricultural corporations were generally good, while the financial condition of stability was weak. Second, the DEA efficiency analysis conducted sequentially based on the CCR and BCC models confirmed that there was a difference in efficiency depending on the type of government－funded projects. Based on the results of the analysis, the performance of government－supported projects for agricultural corporations and the degree of efficiency by type of support were confirmed, and the development direction and policy implications were suggested.","PeriodicalId":246190,"journal":{"name":"Korean Association Of Computers And Accounting","volume":"75 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124665633","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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