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호텔의 경영성과 평가지수로서의 경제적 부가가치의 우월성
고재용(Jae Yong Koh) 한국호텔관광학회 2001 호텔관광연구 Vol.3 No.2
A newly coined measure index of corporate performance, EVA, has recently received considerable attention in the popular press. The numbers of companies are adopting this so-called new management system are increasing. The central theme of this study was to empirically compare the acclaimed information usefulness of EVA in comparison to other traditional measures index including accounting earnings. This study provides findings that are of importance to hotels considering the implementation of EVA. First, the EVA measures provide relatively more information than the traditional measures of accounting profit in terms of the strength of their associations with the hotel firm value. This evidence is consistent with what the EVA companies have experienced. Second, concept of the value added creature becomes the fair standard for the reasonable investment of the hotel and for financial decision, also it is useful means for the manager or the result measure business unit. Third, while this study has produced some useful results about EVA which should be of interest to both academics and practitioners, it is important to recognize some limitations. This study examines the validity of EVA in terms of information usefulness in firm valuation. This valuation focus is a direct response to the claim of EVA advocates that companies will be able to significantly improve their value by implementing EVA. Admittedly, this is only one way to evaluate the usefulness of a performance measure. Some other criteria may include whether EVA enables shareholders to implement more efficient contracts with managers. Future studies may explore these other aspects. As a result, the excellency of the economic value added as the standard of the real management result of the hotel must be recognized..
체인호텔과 내국인호텔의 경제적 부가가치 영향요인에 관한 연구
고재용(Jae Yong Koh) 한국호텔관광학회 2000 호텔관광연구 Vol.2 No.1
The purpose of this study is to find the influential factors and the degree to EVA, analysis the interrelationship, thus, present the methods to increase the firm value of the hotels. The samples are collected 8 hotels, located in Seoul. The accounting data is analyzed by T-test, correlation analysis, multiple regression. The analyzing periods are 1994-1997. A dependent variable used in this study is EVA. Independent variables are acid-text ratio, accounts receivable turnover, operating cash flows to current liabilities ratio, long-term debt to total liabilities ratio, number of times interest earned ratio, debt-equity ratio, operating cash flows to total liabilities ratio, inventory turnover, fixed asset turnover, profit margin, return on owner`s equity, return on assets, gross return on assets, labor costs, revenue per available room(REVPAR), ordinary income on capitals. As a resulting of analyzing, the influential factors in chain hotels were revealed fixed asset turnover and equity turnover, in non-chain, debt-equity ratio, acid-test ratio, operating cash flows to current liabilities ratio, return on owner`s equity, REVPAR. Thus, the objective of business must be changed to improve the quality of management and maximize the value.
카지노訪問客의 라이프스타일에 의한 市場細分化와 그 決定要因 硏究
高在用(Koh, Jae-Yong),秦鉉東(Jin, Hyun-Dong) 청운대학교 관광산업연구소 2009 관광산업연구 Vol.3 No.2
The purpose of this research is to segment KangwonLand Casino's visitors by their lifestyle and understand the impact of some independent variables on each of segmented markets, which are demographic characteristics, types of leisure activities and motivation. Total size of the sample was 350, 317 valid reponses of which were utilized to analyse the opinions of lifestyle, leisure activities and motivation of KangwonLand's visitors. Based on demographic variables, KangwonLand related behavior characteristics, types of leisure activities, motivation variables, this study would identify how these variables influence on each of four segmented markets. As a result, this study found out the factors related to each market, positively and negatively, and which are implicated for KangwonLand to set its own marketing strategy for its visitors.
환대기업의 도산가능성 예측 연구 : 알트만 지수를 이용하여
고재용(Koh, Jae-Yong) 청운대학교 관광산업연구소 2015 관광산업연구 Vol.9 No.2
The primary objective of this paper is to forecast using Altman Index the bankruptcy possibility in the hospitality enterprise. To do this purpose, Altman Model of Developer & Professor Edward I. Altman developed was used to empirical analysis. The using indexes for Altman model are net working capital, retained earnings, EBIT, sales, market value of capital, total assets, book value of liabilities. In conclusion, to make increasing of Z- score, it is necessary to increase the numerator or/and to decrease the denominator. In other words, to make increasing of Z- score, it is necessary the management and action plan to increase the numerator or/and to decrease the denominator.
社會的 支持에 따른 自己效能感이 職務스트레스에 미치는 影響
吳昌東(Oh, Chang-Dong),高在用(Koh, Jae-Yong) 청운대학교 관광산업연구소 2011 관광산업연구 Vol.5 No.2
This study aims to examine the self-efficacy with social support impacts on hotel employee's job stress. To accomplish this goals, a field survey was conducted on the deluxe hotel employees in Seoul area. The results of this study, based on a positive analysis, could be summarized as follows. First, social support are factorized as the emotional support, evaluative support, material support, informative support. second, evaluative support, material support and informative support make a positive influence on self-efficacy. Third, evaluative support and material support make a positive influence on job stress. Fourth, self-efficacy make a positive influence on job stress. The result of this study will be helpful with the hotel industries which needs to establish marketing strategies.