자산재평가 정보가 재무분석가의 이익예측오차에 미치는 영향

김옥현 ( Ok Hyun Kim ),우용상 ( Yong Sang Woo ) 아시아.유럽미래학회 2016 유라시아연구 Vol.13 No.1

본 연구의 목적은 한국 채택 국제회계기준(이하 K-IFRS) 도입 이후 기업의 자산재평가 정보가 재무분석가의 이익예측오차와 어떠한 관련성이 있는지 살펴보고, 기업의 소유구조에 따라 자산재평가 정보가 재무분석가의 이익예측오차에 어떠한 영향을 미치는지 검증하는 데에 있다. 이러한 시도는 자산재평가 정보를 이용하는 회계정보이용자 입장에서 기업의 자산재평가 정보를 기업이 처한 정보환경에 따라 다르게 받아들임으로써 보다 정확한 의사결정을 하는 데에 도움을 줄 수 있다는 데에 의의가 있다. 본 연구를 검증하기 위하여 유가증권 상장 기업 중 2010년부터 2012년까지의 관련 데이터를 FNGuide와 Kis-Value에서 수집할 수 있는 542개의 연도-기업 표본 중 2009년부터 2011년까지 한국거래소(KRX)에 자산재평가 결과를 공시한 기업표본 42개와 자산재평가를 실시하지 않은 500개의 기업표본을 나누었다. 연구모형은 최국현과 손여진(2011)의 연구모형을 수정하여 사용하였으며, 재무분석가의 이익예측오차를 종속변수로 하여 자산재평가 정보의 유용성을 검증하고 더 나아가 외국인 지분율에 따른 자산재평가 정보의 유용성을 검증하였다. 실증분석 결과 첫째, 자산재평가 정보와 재무분석가의 이익예측 오차 간에는 양(+)의 유의한 관련성이 있는 것으로 나타났다. 이는 시장에 자산재평가 정보가 주어졌을 때 다양한 자산재평가 동기에 맞게 정보를 해석해야 하기 때문에 재무분석가가 자산재평가 정보를 해석하는 비용이 늘어나게 되고, 이에 따라 이익예측을 하는 데에 복잡성이 증가하게 되어 이익예측오차가 증가하는 결과가 나타났다고 해석할수 있다. 둘째, 외국인 지분율이 높은 기업의 경우 자산재평가 정보가 오히려 재무분석가의 이익예측오차를 줄여주는 결과가 발견되었다. 이는 외국인 지분율이 높은 기업의 경우 외국인 투자자가 효율적인 외부감시인 역할을 하여 회계정보의 투명성이 상대적으로 높기 때문에, 이러한 정보환경에서 자산재평가 정보가 더욱 목적 적합한 정보를 제공함으로써 재무분석가의 이익예측오차를 줄여주는데 기여한다고 해석할 수 있다. 본 연구는 선행연구와 다른 결과를 제시했지만, 이러한 차이는 분석 모형과 연구에 사용된 표본의 분석기간 등의 차이로 인한 것이라고 볼 수 있다. 선행연구인 최국현과 손여진(2011)의 연구에서는 2008년 1개년의 총 190개의 표본을 대상으로 분석을 실시한 반면에, 본 연구에서는 2009년부터 2012년까지의 3개년간 총 542개의 표본을 대상으로 분석을 실시했다. 따라서 선행연구에 비해 분석결과를 일반화하기 용이할 것으로 판단된다. 또한 외국인 지분율이 높을 경우의 상대적으로 기업의 회계 정보의 투명성이 높은 정보환경을 가지고 있을 것이며, 이러한 정보 환경에서 자산재평가 정보가 주어질 경우 이는 재무분석가의 이익예측오차를 줄여주는 유용한 정보라는 점을 발견함으로써 정보환경에 따라 자산재평가 정보의 유용성이 달라질 수 있다는 점을 발견한 점에서 의의가 있다. 이는 자산재평가 공시 정보를 활용하는 외부정보이용자 입장에서 소유구조에 따른 정보환경을 고려하여 의사결정을 하는 데에 도움을 줄 수있다는 점에서 공헌점이 있다. The purpose of this research is to demonstrate what kinds of correlation there are between the asset revaluation of K-IFRS and analysts’ earnings forecast error. And then, it will also examine how the information about revaluation of the company’s asset according to its ownership structure, affects the analysts’ earnings forecast error. To demonstrate this research, I have classified the sample enterprises into 42 samples which publicly announced the results of revaluation of the company’s asset to KRX from 2009 to 2011 and 500 samples which did not from the 542 year-enterprise samples which can be collected from FN Guide and Kis-Value from 2010 to 2012. The research model is used, by modifying and adjusting Choi and Son(2011) model to the purpose of this research. And the dependent variable was analysts’ earnings forecast error in order to examine the usefulness of the and to test the utility of its information in accordance with foreign ownership ratio. The results of analysis are as follows. First, it is found that there is a positive correlation between the information of revaluation of the company’s asset and the analysts’ earnings forecast error. This is due to the fact that the revaluation is implemented with diverse purpose of asset revaluation when the information of asset revaluation is given to the market, and thus, in order to analyze the information according to its separated circumstance the costs of analyzing the information of asset revaluation generally increase. And then it can results in the increment of earnings forecast error due to the increment of the complexity of forecasting the earnings. Second, in case of high foreign ownership ratio, the asset revaluation information rather reduce the analysts’ earnings forecast error. Since the transparency of accounting information when the foreign investors act as outside surveillances in the corporates of high foreign ownership ratio, in this information environment, revaluation of the company’s asset can be seen to contribute to the reduction of the analysts’ earnings forecast error. And it can be seen that there is a usefulness of the asset revaluation information. Even though this research brought a quite difference from the preceding research in terms of previous asset revaluation and the analysts’ earnings forecast error, but this may be due to the difference of analysis model and analysis period of samples used in research. Also, in case of corporates which has a high foreign ownership ratio, the companies would more likely to have an environment with high information transparency. And in this environment, the analysts would find the information which can reduce the analysts’ earnings forecast error and thus, it has a signification in that it can make a difference to the usefulness of the asset revaluation information according to the information environment. This contributes to the decision making process by considering the information environment according to the ownership structure from the perspective of outside information users who utilize the announced information of asset revaluation of companies. However, since most companies among those who implemented the asset revaluation could not collect the analysts’ earnings forecast error, there were only relatively few samples which means there is a weakness of generalizing the results of the research. Nevertheless, after it becomes possible to extract a lot more samples, it is likely that the follow research can be more actively take place in this field.

서울 및 경기 일부지역 초등학교 5학년의 건강상태 및 영양섭취실태

김옥현(Ok Hyun Kim),박현아(Hyun Ah Park),조영규(Young Gyu Cho),김경우(Kyoung Woo Kim),허양임(Yan Gim Hur),송지현(Ji Hyun Song),강재헌(Jae Heon Kang) 대한지역사회영양학회 2010 대한지역사회영양학회지 Vol.15 No.6

This study was conducted to investigate health status and nutrient intakes among 5th grade elementary students at Korea Centers for Disease Control and Prevention 2010. This study was cross-sectional study on 1,384 children (687 boys, 697 girls) from nine elementary schools located in Seoul and Gyeonggi province. The average height, weight and BMI were 145 cm, 40.6 kg 19.2 kg/m2 for boys and 145.4 cm, 38.2 kg, 18.0 kg/m2 for girls. The prevalence of overweight and obesity were 11.3%, 5.2%, respectively. Serum AST, ALT, glucose, HDL-Cholesterol and RBC levels were significantly higher, while TG levels was significantly lower for boys than for girls. The average energy intake was 1772.4 kcal, which was 98.7% of Estimated Energy Requirement (EER). The boys consumed more energy intake (1800.4 kcal) than the girls (1744.7 kcal). Also, they took insufficient calcium and folate (69.1% and 83.3% of Recommended Intake (RI)) and excess sodium (297.6% of Adequate Intake (AI)) and 85.1% of the subjects had breakfast everyday. In general, the proportion of the children who consumed fruits and vegetables at least once or more a day was low. There was a higher proportion of children in boys who had ramyun and milk with sufficient physical activity than those in girls. As a result of this study, we can find risk factors on obesity and metabolic disorders, and the results can be used for an evidence of nutrition education program and the intervention program. (Korean J Community Nutr 15(6): 717~726, 2010)

간호대학생의 KCUE-Q1(Korean College & University Education Questionnaire)에 따른 비인지적 학습성과

김옥현(Ok-Hyun Kim),최은주(Eun-Ju Choi) 한국콘텐츠학회 2014 한국콘텐츠학회논문지 Vol.14 No.10

본 연구의 목적은 대학의 특성을 반영하고 비용 면에서 경제적이며 간편한 KCUE-Q1을 활용하여 간호학생의 비인지적 학습성과 수준을 파악하기 위함이다. 본 연구는 2013년 12월 2일부터 12월 20일까지 4개교의 전문대학 졸업예정자인 3, 4학년 간호대학생 중 연구목적을 이해하고 참여에 동의한 424명을 연구대상으로 편의표집하였다. 연구 결과 간호대학생의 비인지적 학습성과 성취수준은 평균 2.69점이었으며, 대상자의 일반적 특성 중 성별, 학년, 소속 대학의 2주기 간호교육 인증평가 및 동아리 활동에 따라 통계적으로 유의한 차이가 있었다. 또한 학습열의가 높을수록 학습경험이 높아지고 교육성과도 높은 것으로 나타났다. 따라서 간호학 전공 학생들의 학습성과 향상을 위한 전략으로 교육과정과 비교과활동을 통합할 수 있는 프로그램 개발 및 운영이 필요하며, 이는 간호대학생의 간호학 학습성과 성취수준 향상에 기여할 수 있으리라 생각된다. The purpose of this study was to examine the affective outcome according to KCUE-Q1 in nursing students. The survey was performed with 424 nursing students of 3-year or 4-year that scheduled to graduate from college. Collected data was analyzed using descriptive statistics, t-test, one-way ANOVA and Pearsons correlation coefficient. The level of affective outcome was 2.69. The affective outcome was significantly different according to gender, grade, nursing education accreditation and club activity. Learning passion showed a positive correlation with learning experience and educational outcome. Learning experience showed a positive correlation with leaning passion and educational outcome. The findings of this study indicates a need to develop outcome-based nursing curriculum for nursing students. It is also necessary to evaluate affective outcome in undergraduate nursing students.

Q-방법론을 활용한 대학 운동선수들의 학습권 보장에 관한 인식유형 연구

김옥현 ( Kim¸ Ok-hyun ) 한국체육학회 2021 한국체육학회지 Vol.60 No.1

이 연구의 목적은 대학 운동선수들의 학습권 보장에 관한 주관적 인지 성향을 Q방법론적 접근을 통하여 파악하는 것이다. 이를 위해 소 표본 이론에 근거하여 서울, 충북, 강원 소재 대학 운동선수 36명을 연구대상으로 선정하였으며, Q표본은 35개의 진술문 중 전문가 회의를 거쳐 최종 25문항의 진술문을 추출하였다. Q분류에 의해 수집된 자료는 QUANL 1.2 프로그램을 이용하여 주성분 요인분석을 실시하였다. 연구결과, 제Ⅰ유형(적극적 학업참여형)은 학업과 운동을 병행하는 데 있어, 일반 학생과의 교류 및 교우관계를 기반으로 효율적인 강의시간 운영, 강좌개설(특기자), 그리고 전공분야의 다양한 교과과정 교육을 통한 사회진출의 기반을 다지고, 향후 전문성을 강화하는 데 주안점을 두는 것으로 나타났다. 제Ⅱ유형(학업부담가중형)은 학습권보장제도에 있어 부담감을 느끼고 있는 유형으로 나타났다. 제Ⅲ유형(학업증진 노력형)은 수업병행 시 학점이수에 대한 스트레스, 운동집중력 분산 등 부담으로 인식하고 있으나, 일반 학생과의 교류와 교우관계를 통해 전공분야(이론 및 실기)의 능력향상을 위한 대체유형의 특성을 가지고 있는 것으로 나타났다. 결과적으로 대학운동선수들의 학습권 보장은 전공분야의 다양한 교육과정 교육을 통해 사회진출 시 기반을 마련할 뿐만 아니라, 강의시간의 효율성 운영, 스트레스 해소 등을 중요하게 인식한 반면, 스케줄 변화에 따른 부상위험성 증가, 학습습관 미 정착으로 인해 학업성취의 어려움과 학습도 운동 못지않게 중요하다는 인식의 변화가 미흡한 것으로 확인되었다. The purpose of this study is to grasp the subjective cognitive propensity of university athletes to guarantee their learning rights through Q methodological approach. The study subjects were selected from 36 university athletes located in Seoul, Chungbuk, and Gangwon based on the small sample theory, and the Q sample was extracted from the 35 statements through expert meetings to extract the final 25 statements. The data collected by Q classification were subjected to major factor classification using the QUANL 1.2 program. As a result of the study, TypeⅠ(active academic participation type) is based on exchanges and companionships between general students, effective lecture time management, lecture opening, and various curriculums in the field of study in parallel with study and sports. It was found that the emphasis was placed on laying the foundation for social advancement through education and reinforcing expertise in the future. Type II(academic burden-weighted type) was found to be a type that felt burdened by the right to study. Type Ⅲ(academic promotion effort type) is recognized as a burden on credit points, dispersion of exercise concentration, etc., when concurrently with classes, but the ability of the major field through exchange between general students and companionship It was found to have the characteristics of an alternative type for improvement. As a result, it was confirmed that the guarantee of the right to study for university athletes is not only based on the various curriculum education in the major field, but also important to operate the efficiency of lecture hours and relieve stress, that the difficulty of academic achievement and the change in collegiate athletes that learning is as important as exercise due to increased risk of injury due to schedule changes and failure to establish learning habits were insufficient.

낙상 예방 프로그램이 농촌지역주민의 낙상 효능감과 활동 특이적 균형 자신감에 미치는 효과

김옥현(Kim, Ok Hyun),이은경(Lee, Eun Kyun),김은미(Kim, Eun Mi) 한국보건간호학회 2011 韓國保健看護學會誌 Vol.25 No.2

Purpose: The study evaluated the effects of a fall prevention program in a Korean rural area. Methods: A single pretest-posttest design group was studied. Thirty nine residents in the same rural area participated in a program comprised of education and exercise. The 5-week fall prevention program was performed for 60 minutes, once a week. Results: Fall Efficacy Scale (FES) score and Activities-specific of Balance Confidence Scale (ABC) score were significantly increased after the program, but the pre-and posttest FES and ABS scores were not significantly different between the fall experience group and non-fall experience group. Conclusion: The fall prevention program can improve rural residents’ FES and ABS, and is recommended as a fall prevention intervention.

廳力保存管理를 위한 5年間의 轉向的 調査

김옥현(Ok-Hyun Kim),이수일(Soo Il Lee),김돈균(Don Kyoun Kim),조병만(Byung Man Cho),양승림(Seung Rim Yaang) 한국항공우주의학협회 1994 항공우주의학회지 Vol.4 No.1

과체중 및 비만여성의 식습관, 식이섭취실태 및 혈청지질 양상 비교

김옥현(Ok Hyun Kim),정하나(Ha Na Jung),김정희(Jung Hee Kim) 대한지역사회영양학회 2007 대한지역사회영양학회지 Vol.12 No.1

This study was done to investigate the health-related habits, dietary intakes and serum lipid levels in overweight and obese women by body mass index (BMI). Subjects were 137 pre-menopausal women aged 19 to 49 years. They were divided by 3 groups, overweight (23 BMI < 25), obese (25 BMI < 30) and morbidly obese (BMI ≥ 30) according to their BMI. Body composition was determined by bioelectrical impedance analysis (BIA) method. Dietary intakes were examined by 3-day record method and nutrient intakes were analyzed by the Computer Aided Nutritional analysis program for professionals (CAN-pro 3.1). Serum lipid levels were measured using automatic biochemical analyzer (Selectra E). The average age, height, weight, and BMI of subjects were 31.7 years old, 159.3 cm, 69.4 kg, and 27.4 kg/m2, respectively. Their average consumption of energy were 1712 kcal and 86.4% of estimated energy requirement (EER). Their mean ratio of carbohydrate : protein : fat was 55.2 : 14.6 : 30.2. Particularly, the fat consumption of subjects tended to be elevated with increasing BMI. There was no significant difference in nutrient intakes among 3 groups. But the mean intakes of Ca, Fe, vitamin C and Na of all the subjects were 70.1%, 87.2%, 75.7% of recommended intake (RI) and 258.9% of adequate intake (AI), respectively. The intakes of vegetables and seaweeds were significantly higher in morbidly obese group while the intake of fruits was higher in overweight group compared to the other groups. Serum lipid analysis showed that there were no significant differences in the levels of total cholesterol, triglyceride and LDL-cholesterol among the groups. But the serum HDL-cholesterol level of the overweight group was significantly higher than that of the other groups. LDL-/HDL-cholesterol ratio and AI index were significantly higher in the morbidly obese group compared to the other groups. In addition, The systolic blood pressure of morbidly obese group was significantly higher compared to the other groups. Overall data suggest that morbidly obese women have to more concern about reducing systolic blood pressure and serum lipid levels by decreasing their fat consumption and salt intakes as well as loosing body fat. In addition, all the subjects participated in this study have to be careful about their meals and health-related behaviors in order to prevent obesity-related chronic diseases. (Korean J Community Nutrition 12(1) : 40~49, 2007)

자기애적 성격특성의 패션브랜드 연구

김옥현(Ok Hyun Kim),김미경(Mi Kyung Kim) 한국디자인문화학회 2004 한국디자인문화학회지 Vol.10 No.1

체질량지수에 따른 여대생의 식이섭취 실태와 혈액성상에 관한 연구

김옥현(Ok Hyun Kim),김정희(Jung Hee Kim) 대한지역사회영양학회 2006 대한지역사회영양학회지 Vol.11 No.3

This study was conducted to investigate the relationships among body composition, dietary intake, and clinical blood indices in college students by body mass index (BMI). Their body compositions were determined by means of BIA (Bioelectrical Impedance Analysis) method. Their dietary intake was determined using a 3-day record method and their hematological indices were determined by semi-automated microcell counter (Sysmex F-520). Their serum lipid levels were measured using biochemical analyzer (Spotchem). Subjects were classified as underweight, normal or overweight groups according to their BMI. The subjects were 69 healthy college students aged 20 to 26 years. The average age, height, weight, and BMI was 21.3 years, 162.6 cm, 54.4 kg, and 20.6 cm/m2, respectively. Their average consumption of energy was 1693 kcal, 84.7% of RDA and their mean ratio of carbohydrate: protein: fat were 54.5 : 16.4 : 29.0. There was no significant difference in nutrient intake among the groups except β-carotene and vitamin C. The β-carotene intake was significantly higher in the underweight group. Vitamin C intake was significantly higher in the overweight group. The mean intakes of Ca, Fe, Zn and folate of subjects were 74.8% to 83.2% of RDA. Especially, intakes of Ca, Fe, Zn and folate were lower in the abnormal weight groups. The overall mean values of the hematological indices in female college students were within the normal range and there was no significant difference among the groups. However, anemic subjects with hemoglobin (<12g/dl) and hematocrit (<36g/dl) accounted for about 11% of the subjects. The overall mean values of the serum lipid levels were within the normal range and there was no significant difference among the groups. But serum HDL-cholesterol level of the overweight group was lower than that of the other groups. LDL-/HDL-cholesterol ratio and AI index were significantly higher in the overweight group compared to the other groups. Based upon this study, it is necessary for college women to be educated regarding consuming more Ca, Fe, Zn, folate and less fat and cholesterol in order to have better health promotion. (Korean J Community Nutrition 11(3) : 307~316, 2006)

코로나19 장기화에 따른 태권도장 문화의 변화

김옥현 ( Kim Ok-hyun ),박찬희 ( Park Chen-hee ),전난희 ( Jeon Nan-hee ) 한국융합과학회 2023 한국융합과학회지 Vol.12 No.12

연구목적 본 연구에서는 코로나19 장기화로 인해 국·내외 지도자들이 태권도장을 운영하는 데 있어 겪는 어려움에 대한 경험을 토대로 태권도장 문화의 변화에 대한 인식을 심층적으로 파악하는 데 목적이 있다. 연구방법 태권도장을 운영하고, 현장에서 다양한 경험과 노화우를 갖고 있는 지도자 8명을 유목적표집법(purposeful sampling)을 통해 연구대상으로 선정하였다. 자료수집은 이들과 비대면 심층면담(zoom 회의), 이메일 등을 이용하였다. 자료분석은 마일스와 후버만(Miles & Huberman)이 제시한 질적 연구의 귀납적 연구방법으로 분석하였다. 결과 이를 위해 태권도장 문화의 변화 요인으로 3개의 영역과 6개의 하위요인으로 도출되었다. 첫째, 태권도 훈련 여건 조성의 어려움과 프로그램 운영의 문제점을 해결하고자 하는 노력과 이를 극복하고자 하는 새로운 시도가 필요할 것으로 나타났다. 둘째, 코로나19로 인해 신체활동 시 나타나는 문제점인 훈련 및 신체적 변화에 따른 문제점을 야기하였다. 셋째, 사회·문화적 측면에서 나타난 문제점으로 태권도 운영에 대한 어려움과 코로나19로 인해 방역에 대한 중요성이 대두되고, 이를 해결하기 위한 다양한 정책의 필요성을 제기하였다. 결론 코로나19를 능동적으로 해결해 나가기 위해 다양한 방안을 모색하여 이를 극복하고자 하는 노력의 필요성이 대두되었다. 따라서 본 연구에서는 코로나19 장기화로 인해 나타난 태권도장 문화에 대한 지도자들의 구체적인 인식을 심층 고찰한 점에서 의의가 있다. Purpose The aim of this study is to gain an in-depth understanding of the perceptions of local and international leaders on the challenges of running taekwondo centers due to the prolonged COVID-19 pandemic. Method Eight leaders who run taekwondo centers and have diverse experiences in the field and are aging were selected as research subjects through purposive sampling. Data were collected through face-to-face in-depth interviews(zoom meetings) and emails. The data was analyzed using the inductive method of qualitative research as described by Miles & Huberman. Results Three domains and six sub-factors were identified as factors of change in taekwondo center culture. First, it was found that efforts to solve the difficulties in creating training conditions and problems in program operation and new attempts to overcome them are needed. Second, COVID-19 has caused problems in training and physical changes, which are problems in physical activity. Third, the social and cultural aspects of taekwondo have raised the importance of prevention and the need for various policies to address these issues. Conclusion This study is significant for its in-depth examination of leaders' specific perceptions of the culture of taekwondo centers as a result of the prolonged COVID-19 pandemic.