주식수익률과 인플레이션간의 관계에 관한 연구

오환종,윤영선 군산대학교 지역개발연구소 2000 地域開發硏究 Vol.12 No.-

The Fisher hypothesis provided the theoretical background of the study on inflation and stock return, leads to the conclusion that investment in stocks is a good way of hedging the risk of inflation. Because the value of real assets in companies rises in accordance with inflation, the stock price, which tells the value of withdrawal right on those real assets, goes of accordingly. But several empirical studies conducted after by such researchers as Geske & Roll, Modigliani & Cohn, G. Kaul, Fama suggest that stock return has negative relationship not only with unexpected inflation but also with expected inflation. Thus, the purpose of this study is to identify and investigate the source of the negative relationship between stock return and inflation.

企業合倂의 財務와 會計處理方法에 關한 考察

吳煥鍾 군산대학교 1986 群山水産專門大學 硏究報告 Vol.20 No.2

I studied financing and accounting procedure method centering around business merging in business mix form. The scope of this study include an introduction, financial study, investment analysis and accounting procedure method in business combination. As a result, looking from the economic side, business combination is a remunerative system being achieved from competition prevention among companies, reasonableness of a scale, strengthening of governing power about market, and arrangement and relief of bankrupt company. On the other hand, it is attended by many evils, that is to say, preventing fair trade through monopoly and so on. So, companies must determine these problems by comparing merits and demerits of business combination purchase and sale. Also practically promoting business combination, there must preferentially manage the adjustment advantageous combination condition, appraisement about financial effect in profitability, liquidity and dangerous consition after business combination. In urgent condition forming of accounting procedure standard about business combination, the purchase method is suitable for the Korea actuality in accounting method. But the same time carring out broaden study about fooling method, we must prevent confusion from estrangement of ideal and actuality pressing establishment by standard. And there must be achieved complement and amendment about existing combination accounting.

우리나라 農協의 財務管理에 관한 硏究 : 資金의 調達 및 運用과 損益을 中心으로

吳煥鍾 군산대학교 1983 群山水産專門大學 硏究報告 Vol.17 No.2

During the past twenty years, our Agricultural Cooperatives has grown the kernelled body of rural social development through putting in good order of organization base and development enlargement of farmer's support subject. The while, it has been persistently the growth and development in every direction. But so far it has some problems to be solved in financial management field. Through these studies, we have concluded as follows as possible means to improve the functions of the financial management in Agricultural Cooperatives. 1.Development amplification of deposits and mutual credit; As Agricultural Cooperatives do its best development amplification of deposits and mutual credit, Agricultural Cooperatives must increase the self-supporting agricultural credit by funds enlargement mobilization. 2.Construction expansion of equity capital; The equity capital should be expanded as level as invested amount of fixed assets through improvement of investment system, namely dividend ratio rasing about subscribed capital and so forth. 3.Independence of agricultural financing; In the end agricultural funds should be solved the Agricult ural Cooperatives for itself, while an age of transition it solves by strengthening of government supporting. 4.Self-regulating guarantee of funds working; The promotion of financial liquidity and self-regulating of funds working should be guaranted. For exemple the excess itself funds burden hampers the efficiency and individuality of funds working in order to excute policy business. 5.Putting forth strength of earnings and expenses improvement: The earnings and expenses improvement should be positively concentrated effort by rational working of funds, budgets efficiency execution , labor productivity elevation, rationalization of internal management and rasing dealings charge at policy business and so on. 6.The public interest rate level payment of dividend rate: To expand the subscribed capital production, the dividend rate on subscribed capital should be payed as rate as one-t imp deposits rate. 7.Introduction of management technique and security of skilled manager: To minimize the inefficiency of financial management, Agricultural Cooperatives must secure the skilled manager and introduce the management technique. 8.Mutual credit practice of the Special Agricultural Cooperatives: Existing 42 Special Agricultural Cooperatives must execute the mutual credit step by step starting from Special Agricultural Cooperative with good management surroundings. 9.Autonomous selection of policy funds borrower: In present the policy funds borrower who are selected by the administrative organization should be selected by the Agricultural Cooperatives. Because it is desirable to do a continuous operation from the choice of borrower to collection of funds for effective guidence credit.

MRP시스템에 關한 硏究

吳煥鍾,房基俊 군산대학교 1988 群山水産專門大學 硏究報告 Vol.22 No.2

The problem which the morden enterprises have to solve is the human and material resources management, because of the shortening of the international resources and the statue of economic stagnation. This problem is conerned with detenmining what inventory level, order point and order quantity should be set in order to minimize the total inventory cost associated with producing a product under the demand fluctuation over a planning horizon. What is called classic inventory control theory does not adequately reflect the realities of a manufacturing enviroment and makes incorrect assumputions as the function of, and, the demand for, individual items which. a manufacturing inventory comprises. Therefore, material requirement planning(M R P) system has been developed as an excellent production scheduling and inventory control technique with wide availability of computers since 1960. M R P is a process of operation planning and control designed to minimize inventory level, to maximize operation efficiency and to improve service level. This paper tries to find the character of the M R P system and suggest the theoretical back-ground of its application to the firm. For the purpose of these objects, this paper compares the M R P system with the traditional inventory control technique. In order to apply and replenish the "MRP" system to the firm ; 1) Make the item level for material requirement planning schedule 2) Prescribe the level of management to use the "M R P" system and educate solving the above problems, "M R P" technique will be effectively used to solve the management problems. We must study the following problems for the use of the "M R P" system. 1) Can not solve by only past data 2) Problem of decision -making of "M R P" 3) Problem of disign of "M R P" system 4) Problem of making the bill of material 5) Problem of developing the software of "M R P"

수산업협동조합의 상호금융사업에 관한 고찰

오환종 한국수산경영학회 1985 수산경영론집 Vol.16 No.1

The mutual credit of Fisheries Cooperatives is reciprocal financing bring overs and shorts to settlement themselves by filling each other's needs among feeble fishermen economically. The spread of mutual credit through Fisheries Cooperatives reduces private loan dependence and private loan interest rate at fishery village, and that fills up policy financing being restricted by working scale. And seeing movement side of Fisheries Cooperatives, it has done an under board to settle self-supporting foundation of primary fisheries cooperatives early. The mutual credit deposit shows about 53 times increase past an interval of a ten years. This increase rate is an epoch-making record being unparalleled in other banking facilities except Fisheries Cooperatives. Then being unparalleled increase rate, time and savings deposits increase has been contributed a great deal than demand deposits. Thinking important function factors as mutual credit growth, we can classify interior and exterior factors. The exterior factor is income of fishery household in some measure, interior factors are the high deposits interest rate and the enlargement of facilities organization . As these, they have been in a better factors, also have been a restriction factors. The restriction factors are conflict cancellation between mutual credit and them bring into existence a village vault, mutual savings and finance companies, private finance. For the sake of continuance growth rate in mutual credit as past, we should eliminate restricted factors in growth. On the other hand the better factors in growth should be act upon affirmation side continually. Consequently under circumstances not to an amicable settlement bring the fisheries fund demand as policy financing, we should do continuous and sound development of fisheries financing by means of putting in good order of fisheries cooperatives mutual credit. Surveying a problem from these viewpoints, when we study more deep and a full into a subject about growth project of mutual credit, we think to expect continuous growth in mutual credit of Fisheries Cooperatives.

우리나라 중소기업의 현황과 도산예측모형에 관한 이론적 연구

오환종,한승우 한국지역발전학회 2007 지역발전연구 Vol.7 No.1

The purpose of this article is to study for the situation of small and medium firm and firm's failure. The effect of the situation of small and medium firm is about 99.0% above. The firm's failure are economic failure and financial failure. And, financial failure are technical insolvency and bankruptcy. The factor of the firm failure are inner factor and outer factor. The inner factors are no financial management, unreasonable investment, inferiority technical and production. The outer factors are excessive competition, loss of blood selling, depreciation of foreign exchange, a rising of material price. The effect of firm failure are inner factors is 50.4%, outer factors 49.6%. The further study is empirical study small and medium firm in KOREA.

의사결정지원시스템과 전문가시스템의 통합

방기준,오환종 群山大學校 1997 論文集 Vol.24 No.-

Expert Systems are emerging as a powerful tool for decision making. Integrating expert systems with decision support systems may enhance the quality and efficiency of both computerized systems. This article examines possible connections between the two technologies and discusses some issues related to their integration.

直接原價計算에 關한 理論的 硏究 : 利益管理機能을 中心으로

吳煥鍾 군산대학교 1984 群山水産專門大學 硏究報告 Vol.18 No.2

The direct costing itself is fit for the original purpose of costing accounting and is completely applicable to the demand of modern management. Moreever it via means of management has directly devoted itself to profit control function, cost control and so on regarded as the ones of importance in modern enterprise. Also there are four sorts of profit control function in direct cost accounting ; Break-even point analysis, short-term measurement of product profitability and decision of optimal capacity, measurement of short- term profit performance, price policy and decision. The direct costing has many merits and defects, also the point at issue. In these days, not only our country but other countries in the world recognize many merits of direct costing, but not a few countries do not support it in time of external reporting. As a result, the direct costing itself will be firmly stand in its theory and the system in the near future. At the same time it will be greatly devoted itself to the demand of management of modern enterprise in a way of rationality.

주가지수 선물거래에 관한 고찰

오환종 군산대학교 1992 群山水産專門大學 硏究報告 Vol.26 No.1

The stock index futures contracts(SIFC) is emerging most recently from the rapidly growing financial futures and adds another dimensin to capital markets by contributing to the management of risk and ultimately to the efficient allocation of resources. Consequently both theoretical and empirical implications of SIFC have attracted the attention of both academicians and practioners. Chapter one describes an introductory remarks on SIFC. Chapter two describes the review of history of SIFC. The definition and the economic rational of SIFC are presented. Chapter three discusses a various hedging the price and investment strategies using SIFC. Chapter four presents a comprehensive review of the literature on the stock index futures prices(SIFP) Chapter five suggests problems to be considered in the future. Chapter six provides a summary of the study.

CIM하에서의 생산관리의 역할

방기준,오환종 群山大學校 1997 論文集 Vol.24 No.-

The purpose of this study is to present the conceptual prototype of Computer Integrated Manufacturing(CIM). To do this, the general characteristic, the function, the method of the application and the case of the introduction of CIM are investigated. The role of production management in CIM is compared with that of Production Activity Control(PAC) To overcome the weakness of the CIM, Artifical intelligence(AI) techniques are introduced. The contribution of this study is to present concrete methodology of operating the CIM.