減價償却에 對한 小考 : 특히 그 槪念確立의 必要性과 機能을 中心으로

申甲 건국대학교 1975 樂圓誌 Vol.10 No.1

우리 나라 企業의 財務構造 改善과 現代的 企業觀 確立에 관한 小考

申甲 건국대학교 1974 法經論叢 Vol.1974 No.9

證券投資信託制度에 관한 小考 : 특히 그 機能的 發展을 中心으로

申甲 건국대학교 1977 法經論叢 Vol.1977 No.12

財務計劃의 序說的 硏究 : 管理的 機能을 中心으로

申甲 건국대학교 1974 學術誌 Vol.18 No.1

Financial management means systematized knowledge of necessary managerial techniques in running of enterprise. Its ultimate aims are reasonable activities for effectively achieving their object, namely continuous decision-making in gaining the highest profit after the cost be reduced and the efficiency be advanced in all line of productive enterprise. Financial planning make the supplies of capital and the uses of fund an object of study and it is the most important planning in business management. Furthermore, all business activities of product, buying, selling and personal affairs must be reflected, analyzed, appreciated in finally the matter of finance. Therefore, it has a chracter of synthetical administration in business planning, so an adequate establishment of financial planning is connected with reasonable establishment of whole business planning. For this reason, financial planning is absolutely necessary in business enterprise. It is exceedingly dangerous to manage business enterprise without it and it is just like a vessel which starts on a voyage without a mariner's compass. Accordingly, to start and maintain business enterprise, financial planning must scientifically be established, including both sources and uses of fund and necessarily be built from the bottom up with the overall plan being the results of detailed requirements matched against possible alternatives. Furthermore, financial planning has to be made through the overall budget plan of the entire enterprise. The supplies of capital must be obtained properly and effectively for the uses of it. To be more specific, it must be made mainly through profit planning and fund planning. Besides, as the international relation changes rapidly and circumstance of enterprise develops and its scats becomes enlarged, business management is bound to become complex and need to rationalize business management to overcome problems arising from such developements arises. Therfore, this business rationalization should start with the study of profit planning and fund planning relating to financial planning, especially its overall business actvities. And then it must be based upon current conditions but always with an eye to the future and the long-term financial planning should evolves out of manly day-to·day decisions designed to meet present financial needs. Yet these decisions should be made within the frame-work of a carefully considered long-term financial plan. Such a plan should be based upon a proper understanding of the basic principles of business finance. Especially almost all financial planning must be based upon compromises which seek to secure maximum advantage with minimum disadvantage. For that reason, the problem of balancing potencial gain against costs and risks, some known and others unknown, is a continual task of financial planning.

經營組織理論의 歷史的 發展推移에 대한 考察

申甲 건국대학교 1976 樂圓誌 Vol.11 No.1

韓國企業의 社會的 責任에 관한 小考

申甲 건국대학교 1980 樂圓誌 Vol.15 No.1

企業公開와 資本市場의 擴充에 관한 考察 : 특히 韓國企業의 財務構造改善과 資本市場의 機能强化를 中心으로

申甲 건국대학교 1977 學術誌 Vol.21 No.1

But the high economic growth of the pasts 15 years was also accompanied by many undesirable side effects. Especially it suddenly increased the capital of others as compared with the capital of one's own and made a change for the worse in the Financial Structure. These enterprises started their businese with small capital of their own and thus had to borrow short-term and high-interest loaus for their operations. This was the situation of our economy in its early age, and it was understood as inenitable for further growth of the economy. As a result, the weakness in the Financial Structure has imparied the sound development of enterprises and price stability. For that reason, these must be eliminated promptly and decisively if we are to sustain the continued development and growth of the nation's economy. Accordingly enterprises must convert the system of capital raising in the direct financial system through Stock Market and operate it to be sound. Therefore, the present Stock Market must strengthen that function. The direction to strengthen that function are following ; (1) The authorities must accord the establishment of policy with the achievement. (2) By the establishment of auditing system, the authorities must practice disclosure system. (3) By the establishment of function of stock analysis, the authorities must maintain stock publication price at a reasonable level. (4) By making it a rule to regulate supply and demand of stock and price function of market, the authorities manage ant operate the Stock Market. (5) The authorities must slough off from support of lots stockholder and prevent from camou flage-public offering of stocks. etc‥‥ Especially, because the achievement of the Fourth-year Economic Development depends on all concentration of citizens, the strength of three-dimensional function of Stock Market is very important. Through the First, Second and Third Five-years Economic Development Plans, we have achived a high economic growth, one of the highest in the world. This was meant possible by laying a solid foundation for an industrialized and export-oriented nation.

投資分析을 위한 財務諸表 分析

申甲 건국대학교 1982 學術誌 Vol.26 No.1

We have to analyze, first, the state of business enterprise for the investment analysis and one of the method of it is realized throughout the analysis of financial statements, because the operating results of business management are recorded in Balance-sheet and Profit and Loss statement. But if static ratio and dynamic ratio are used on analysis of statement, we must understand it's meanings, it's contents and it's limitations on adaptation. If we do not so, we will make a big mistake on analysis. Second, we have to try a qualitative analysis, because a qualitative analysis can explain the cause of results and the possibilities of the business enterprise. This manuscript will try to present one of the method of analysis of business enterprise on the ground of such a purport.

企業資本構成의 正常化에 관한 硏究

申甲 건국대학교 1981 學術誌 Vol.25 No.1

Today, Korean business enterprises face on the remarkable turning point. In interior issues, there is the subject that should raise a driving forse in itself as a member of growing body in national economy and in international issues, the subject that should strengthen an international competition, under the open-door economic system, in accordance with a tide of the liberation in trade. But the capital accumulation of Korean business enterprises is extremely weak and they depend on a short-term debt for even the cost of equipment or facilities. As a result, the weakness in financial structure is not to be improved and their capital constitution is in instability. Of course, the liabilities are not always to bring the disadvantage on managing the enterprise. If the profit ratio of total capital is way above the interest ratio of liabilities, the liabilities are rather profitable on managing the enterprise. But if the enterprise shall be faced with the depression and if the interest ratio of liabilities are way above the profit ratio of total capital, the firm shall become on bankrupt. Therefore, at this point of time, the improvement of capital structure through the increase of net worth is very important thing in Korean enterprise, and the accumulation through retained incomes is one of the best method for this. Even though the various limitatious on the current tax law are enforced for the retained incomes, they have the following advantages. ① The financing is easier than the debt financing. ② The cost of financing is not necessary. ③ The expressed cost of capital is not necessary. ④ The retained incomes have not the risk for the nonfulfillment of liabilities. ⑤ The retained incomes become the source of permanent financing. For this reason, the retained incomes must be selected by means of solving the weakness of financial structure in Korean enterprise. Therefore, Korean enterprise must plan the enlargement of equity funds through ther paid in surplus, the depreciation, the revaluation reserve and the earned surplus.

企業의 內在價値와 株價分析

申甲 건국대학교 1989 論文集 Vol.2 No.-