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Moon Hyun Kym(Moon Hyun Kym) People&Global Business Association 2023 Global Business and Finance Review Vol.28 No.4
Purpose: The purpose of this study is to investigate the impact of sticky behavior in R&D costs on firm value. The study aims to gain insights into whether the stickiness of R&D costs is a rational choice based on managerial foresight or if it stems from managerial self-interest. Design/methodology/approach: For the regression analysis, a modified version of Ohlson's accounting-based valuation model (1995) was used to assess the impact of R&D costs on firm value. and the stickiness of R&D costs was measured using the model proposed by Homburg & Nasev (2009). International Financial Reporting Standards were adopted in Korea in 2011, and empirical analysis was subsequently conducted using data from listed companies. Findings: The empirical results were as follows. Firstly, R&D costs reported as expenses showed a negative (-) correlation with firm value, while the stickiness of R&D costs was found to have a positive (+) impact on the value relevance of earnings. Secondly, R&D costs reported as assets did not have a significant impact on firm value, and the stickiness of R&D costs did not have a significant impact on the value relevance of net assets. Research limitations/implications: Overall, the findings of this study support the accounting treatment of R&D costs as expenses. Moreover, the study reveals that the sticky behavior of R&D costs helps alleviate the negative value relevance of R&D expenses. Originality/value: This study distinguished between capitalized R&D costs and expensed R&D costs, and examined their value relevance by investigating the impact of sticky behavior on earnings and net assets.
김문현(Moon Hyun Kym) 한국IT서비스학회 2009 한국IT서비스학회지 Vol.8 No.3
This study aims to test the valur relevance of development cost particularly focusing on IT firms of KOSDAQ. Test period is from 2005 to 2007 and the samples are 2,271 year-firms including 1,692 firms that reported development cost in financial statements. The basic test model is a modified Ohlson(1995)'s lineae model. The empirical results show that there is the negative relation between stock price and development cost reported as asset. It means that development costs reported as asset is considered as expense in the market. It implies that development activities of KOSDAQ IT firms is not related to market-leading technologies or goods. Otherwise it might reflect the conservative valuation of market on the unstability of KOSDAQ market itself.
김문현 ( Moon Hyun Kym ) 한국생산성학회 2013 生産性論集 Vol.27 No.1
The purpose of this study is to test relation of credit rating and earnings management. The firms have the incentive to make credit rating better with earnings management. But, if earnings management is considered in credit rating, earnings management will negatively be related with credit rating. This study used credit rating for firms instead of credit rating for issuing a debt and considered discretionary accruals as a means of earnings management. Test period is from 2002 to 2010. Samples are 3,612 year-firms from public, manufacturing firms. The empirical results showed that there was a negative relation between discretionary accruals and credit rating level. This means that though the firms have the incentive to improve credit rating through earnings management, earnings management have an negative effect on credit rating. Also, there was a negative relation between discretionary accruals and credit rating change. This means that earnings management have an negative effect on credit rating change. The empirical results imply that the firms manage earnings with discretionary accruals for the purpose of improving credit rating, but that credit rating negatively reflect the incentive.
김효근(Hyo Gun Kym),이현주(Hyun Ju Lee),문윤지(Yun Ji Moon) 한국경영학회 2003 Korea Business Review Vol.6 No.2
한국에 경영학이 도입된 지 50여 년이 지난 지금 경영학은 양적으로 급성장을 하였다. 그러나 그 기간동안의 경영학 연구가 인식론과 연구방법론 차원에서의 실증주의 양적방법론으로 많이 진행되어 옴으로써 상대적으로 해석주의 질적연구방법론이 미약한 실정이다. 이에 본 연구는 과거 한국 경영학 연구방법론의 연구동향 실태를 조사하기 위한 다차원적 프레임워크를 제시하며, 이에 기초하여 상대적으로 연구가 미약했던 질적 연구방법론을 재고함으로써 경험의 의미나 어떤 특정 한 상황 하에서의 인간행위에 대한 목적, 동기와 같은 조직행위자의 관심 등에 관한 보다 깊은 연구의 필요성을 제시해 보고자 한다. 또한 그 동안 도외시되었던 질적 연구방법론에 관심을 갖고, 다차원적 프레임워크에 기초한 질적 연구방법론의 개념과 특징을 재정의함으로써 질적 연구방법론이 경영현상을 연구하는데 있어서 기여할 수 있는 시사점을 도출한다. 특히 본질적인 왜의 문제에 대한 선행적 관심을 중심으로 프로세스와 변혁에 대한 이해의 필요성에서 그리고 총체적 관련성 및 상황적 관점에서 서술한다. 마지막으로 인식론적 차원에 입각한 질적방법론의 보완적 발전으로 향후 한국 경영학 연구방법론 연구의 균형적인 방향을 제언한다. This paper presents multi-dimensional methodology framework for the analysis of management research trends in Korea and some alternative research methodologies to complement both the level of academic inquiry and that of practical usefulness. Proposed are the multi-dimensional methodology framework originated from (1) the epistemological, (2) methodological and (3) time dimension. While there has been an increasing growth in management research in Korea for more than 50 years, the research community is critically influenced by both dominant perspective of positivism and dominant quantitative-oriented research methodology. Although conventional quantitative studies have contributed to the logical verification and generalization of managerial theories, there still exist research needs exploring the profound meaning of experiential phenomena or human behaviors in the managerial context. It is, therefore, essential to suggest some complementary research methodologies that would grasp the holistic approach to business organizations for balanced academic or practical development. The redefined concept and characteristics of qualitative methodologies are illustrated in terms of the multi-dimensional methodology framework. Finally, the benefits that qualitative methodology can provide are discussed.