자금재조달위험이 경영자 이익예측에 미치는 영향

유일한(Yu, Il-han),신상훈(Shin, Sang-hoon),유승원(Yoo, Seung-weon) 한국국제회계학회 2017 국제회계연구 Vol.0 No.72

본 논문에서는 자금재조달 위험이 경영자 이익예측에 미치는 영향에 대하여 연구하였다. 구체적으로 2004년부터 2014년까지 유가증권 상장기업의 경영자이익예측정보를 이용하여 자금재조달 위험이 경영자 이익예측의 편의에 미치는 영향에 대하여 분석하였다. 연구결과 첫째, 자금재조달 위험이 경영자 이익예측의 낙관성에 영향을 미치는 것으로 나타났다. 자본시장을 통한 자금재조달을 앞둔 경영자는 자본비용의 감소를 위해 기업의 미래성과를 낙관적으로 조망함으로써 긍정적인 시장의 전망을 유도할 유인이 있는 것으로 보인다. 둘째, 현금 보유비율이 낮은 기업일수록 경영자가 이익예측을 낙관적으로 할 가능성이 더 큰 것으로 나타났다. 자금재조달을 앞두고 충분한 현금을 보유하고 있는 회사의 경우 그렇지 않은 회사에 비해 자금재조달 시에 발생 가능한 여러 위험에 보다 유연하게 대응할 수 있다. 따라서 현금 보유비율이 높은 기업의 경우 경영자들에게 낙관적 이익예측을 통해 시장의 긍정적인 반응을 유도할 유인이 줄어드는 것이다. 이는 현금 보유비율이 높이는 것이 자금재조달 위험을 낮추는 방편 중 하나가 될 수 있다는 선행연구(Jarrad Harford 2014)와도 일관된 결과이다. 본 연구는 자금재조달 위험이 기업 영업에 중요한 논제임에 비해 국내 연구가 미진한 현 상황에서 자금재조달 위험이 경영자의 이익조정 뿐만 아니라 이익예측 관련 공시 정보에도 영향을 미칠 수 있음을 입증하였다는 점에서 의의가 있다. 또한 자금재조달 위험에 따른 경영자들의 이익예측 편의는 경영자들의 기회주의적 면모를 재조명한 것으로 볼 수도 있다. 나아가 본 논문은 현금보유 수준에 따라 경영자 이익 예측 성향이 달라질 수 있음을 입증하며 자금 대여자들의 의사결정에 필요한 시사점을 제공하리라 생각한다. In this paper, we investigate the effect of fund re-financing risk on managerial earnings forecast. Specifically, from 2004 to 2014, we analyzed the effects of the risk of refinancing of funds on the convenience of managerial earnings forecasts using information on managerial earnings forecasts of listed companies. The results of this study are as follows: First, the risk of refinancing affects the optimism of managerial earnings forecast. Management seems to have an incentive to induce a positive market outlook by optimizing the future performance of the company in order to reduce capital costs. Second, the lower the cash holding ratio, the more likely the manager is likely to be optimistic about earnings forecasts. Companies that have sufficient cash ahead of their refinancing can respond more flexibly to the risks that may arise when refinancing funds compared to non-cash companies. Therefore, for firms with high cash holdings, the incentive to induce positive responses to the market through optimistic earnings forecasts is reduced. This is consistent with Jarrad Harford (2014), which suggests that increasing cash holdings can be one of the ways to lower the risk of refinancing. This study has proved that the risk of refinancing is influential not only on managers" profit adjustment but also on profit forecasting information in the current situation where domestic research is insufficient. In addition, managers" profit forecasting convenience due to the risk of refinancing of funds can be seen as a reexamination of opportunistic aspects of management. In addition, this paper proves that the propensity to predict earnings will vary according to the level of cash holdings and will provide implications for women"s decision making.

양방향 요소제거법을 이용한 신뢰성 기반 최적설계

유진식,박재용,황승민,임민규,오영규,한석영 한국공작기계학회 2008 한국공작기계학회 추계학술대회논문집 Vol.2008 No.-

This research presents a Reliability-Based Topology Optimization (RBTO) using Bi-directional Evolutionary Structural Optimization (BESO). An actual design involves uncertain conditions such as material property, operational load and dimensional variation. Deterministic Topology Optimization (DTO) is obtained without considering of uncertainties related to the uncertainty parameters. However, RBTO involves evaluation of probabilistic constraints, which can be done in two different ways, the reliability index approach (RIA) and the performance measure approach (PMA). The reliability index approach (RIA) and the performance measure approach (PMA) are adopted to evaluate the probabilistic constraints. In order to apply the BESO method to the RBTO, sensitivity number is defined as the change in the reliability index due to the addition or the removal of the ith element. In the BESO, a mesh-independency filter using nodal variables is used to remove the checkerboard patterns. The optimal topologies of RIA and PMA are obtained very similarly. It is shown that RBTO based on BESO can be effectively applied from the presented examples.

한국과 호주의 스쿼시 경향과 향후 추세에 관한 비교 연구

한성유,황영성,박재성,허정석 한국스포츠리서치 2004 한국 스포츠 리서치 Vol.15 No.1

This research is based on squash professionals opinion, precedent literature as well as other books and internet-researched information. In hopes that squash will not only become a more life-time sport, but a profession collegiate sport as well, and help change the publics recognition as an elite sport, and become an opportunity for professional literature and researches will recognize squash as a learning field: and in doing so, provide a compilation of strategic plans based on those of Australia to set a basic foundation. As a result of this research: 1. Financial independence must be acquired through more company sponsorship and T.V. broadcasting of squash games. 2. Municipal and provincial branch must become more autonomous through horizontal relationship. 3. A thorough reeducation course is needed to increase the quantity, but the quality of present Korean coaches and players. 4. Regulations and laws regarding the establishment of squash facilities must be drafted to avoid users from being exposed to danger through thoughtless governmental approval. If regulations and laws suitable for Korea conditions are created based on those of more advanced nations, then squash in Korea will continue on its path to further development.

N세대의 스포츠 소비유형 요인 분석

이현수,한성유,박소영 釜山大學校 附設 體育科學硏究所 2004 體育科學硏究所 論文集 Vol.20 No.-

The purpose of this study was to develop actual measurement tool on the Sports Consume type factor analysis of N generation.....

스쿼시 참가자의 참여동기와 만족도 관한 문화기술적 분석

김도호,한성유,허정석 한국스포츠리서치 2004 한국 스포츠 리서치 Vol.15 No.6

This study attempts to investgate the aspects on the motives and the satsfactions of the participants of squash. This study is to analyze by ethnographic research method. The subjects in this study were 6 selected adult who were attending. The Data were collected through interviews during a period from october 2004 to december, 2004. The findings of this study were as below: First, In participating motives, casual squash participants showed participation continuous on account of health physical strength, activity motive, and accomplishment motive. Second, In participating motives, serious squash participants showed participation continuous on account of immersion motive, ostentation motive, activity motive. Third, In life satisfaction, casual squash participants felt satisfaction in physical part, psychological part. Fourth, In life satisfaction, serious squash participants felt satisfaction in physical part, social part.

알렉시딘과 차아염소산나트륨의 화학적 상호반응 후 mass spectrometry를 이용한 파라클로로아닐린의검출 분석

김현식,한승현,오소람,임상민,구유,금기연 大韓齒科保存學會 2010 Restorative Dentistry & Endodontics Vol.35 No.4

근관세척제인 NaOCl과 CHX를 병행 사용하는 경우 적갈색의 발암물질로 알려진 PCA가 생성된다. 본 연구의 목적은 CHX와 유사한 buigunide 계통의 소독제 인 ALX을 NaOCl 과 흔합 반응 시 PCA가 생성되 는지 여부를 mass spectrometry를 이용하여 평가하고자 하였다. 대조군으로는 4% NaOCl 용액과 2% CHX의 혼합용액, 0.5%PCA 용액, 및 1%ALX 용액을 사용하였고 실험군으로는 5가지 농도(1%, 0.5%, 0.25%, 0.125%, 0.0625%)의 ALX 용액과 4% NaOCl의 흔합용액을 질량분석기를 이용하여 mole-cular peak를 분석한 결과 ALX과 NaOCl의 혼합물에서는 PCA(m/w=128)로 보이는 128 피크가 관찰되지 않았다. 또한 용액의 색 변화에서도 ALX이 농도가 높을수록 열은 노랑색을 띄었으나 농도가 낮아질수록 흰색으로 관찰되었으며 어떠한 침전물의 형성도 보이지 않았다. Recent studies demonstrated that the combination of chlorhexidine (CHX) and sodium hypochlorite (NaOCl) resulted in the formation of a precipitate, para-chloroaniline (PCA). Alexdidine (ALX) is a kind of biguanides like CHX, and has stronger detoxification effect against the bacterial virulence factors such as lipoteichoic acid and lipopolysacchardide compared with CHX. The purpose of this study was to determine whether PCA was formed after chemical interaction between ALX and NaOCl using mass spectrometry. Mass spectrometry was performed for the mixture of five different concentrations of ALX (1, 0.5, 0.25, 0.125, 0.0625%) and 4% NaOCl. Results showed that the peak of PCA was not detected in mixed solu tions of ALX and NaOCl in mass spectrometry analysis. The color of mixed solution of ALX and NaOCl after chemical interaction was light yellow to white, but there wasn't any precipitate found.

24시간 혈압 감시를 통한 만성 뇌졸중 환자에서의 야간 혈압 강하 현상의 연구

정산,이병철,유경호,정승철,김성민,권기한,황성희 대한신경과학회 1996 대한신경과학회지 Vol.14 No.4

시각장애인의 유산소성 운동이 체력에 미치는 영향

박재성,김주혁,황영성,김도호,이수판,한성유,허정석 한국스포츠리서치 2004 한국 스포츠 리서치 Vol.15 No.4

This research fulfilled the program of aerobic exercise for living during 6 months with seven men and women who are disabled people with visual impairment, The program consists or gym, swimming, aerobic and running, During 6 months, all exercises were executed 1 hours, twice a week for 6 weeks. Each exercise had self-servant and was carried out 60 minutes with teaching method of special directors in every weep Physique by height, weight, condition of exercise ability by the capacity of the lungs of the heart and lung endurance and intake of the maximum oxygen, muscular strength of stomach, grasping power, pliability by forward bending with the upper part of the body, instantaneous force of muscle in a sudden jump, muscular endurance by put-up and sit-up, agility by side-step and response of the whole body, and balance by one leg standing while closing eyes as using Helmas (sewoo systems korea) were measured. The Results, 1.There is a significant difference for both men and women in the capacity of the lungs and the heart and lung endurance, However only women have a significant difference in intake of the maximum oxygen. 2. Both men and women have a significant difference in muscular strength of stomach and grasping power to measure muscular strength. 3. Both men and women have a significant difference in forward bending with the upper part or the body to measure flexibility. 4. Sudden jump to measure instantaneous force of muscle, sit-up, and push-up to measure muscular endurance show that both men and women have a significant difference.(p<.01) 5. Side-step and response of the whole body to measure agility show that both men and women have a significant difference. 6. One leg standing with closing eyes to measure balance show that both men and women have a significant difference.

Influential Factors on Patient Satisfaction and Intent to Revisit Emergency Medical Services for Cardio-Cerebrovascular Conditions in Gwangju and Jeonnam

Seung Ju HAN,Da Hyeok WI,Hee Seung YANG,Hae Joo PARK,Hyunju YANG,Tag HEO,Ju Han KIM,Chul-Ho CHO,Soo-Young YU 한국간호과학회 2023 한국간호과학회 학술대회 Vol.2023 No.11

Evaluation of the Attenuation Rate for Clinical Application of a Flexible Skin Dosimeter in Radiotherapy

Han Moo-Jae,Yang Seung-Woo,Shin Yo-Han,Bae Sang-Il,Moon Young-Min,Jeon Wan,Yu To-Sol,Kang Jin-Kyu,Kim Jin-Young,Heo Seung-Uk,박성광,나정은,Chung Jin Beom 한국물리학회 2020 THE JOURNAL OF THE KOREAN PHYSICAL SOCIETY Vol.77 No.11

During radiotherapy, some patients owing to the variability in skin sensitivities, may experience adverse skin reactions for doses at which other patients are asymptomatic. Hence, when abnormal symptoms appear on a patient's skin, the etiology should be verified. Accordingly, a surface dosimeter on the skin can help ascertain whether accurate doses are irradiated. Furthermore, surface doses are measured in the field junction gaps during craniospinal irradiation or during large-area radiotherapy to avoid adverse reactions due to cumulative skin doses from multiple beams. However, the point dose measurement errors of surface dosimeters exceed approximately 10% and have low-positional accuracies because the attachment sites are approximated with the help of the naked eye. Moreover, accurate information on field junction gaps cannot be obtained. Therefore, in clinical practice, a flexible array dosimeter is required as it can measure the dose distribution on the body surface by adapting its shape to the body curvatures. In this study, we implemented a flexible array dosimeter and, based on its constituent materials, evaluated the attenuation rate associated with its use. A polyester (PET) film was used as the underlying substrate. HgI2 and PbI2 photoconductors were used for their good performances in films. Furthermore, the measurement accuracy was verified through comparisons with Monte Carlo simulation outcomes. The resulting PET film had an attenuation rate of 2.22% at a 50-μm thickness. At the minimum material thickness of 25 μm, the attenuation rates for HgI2 and PbI2 were 4.69% and 5.72%, respectively. Further research is needed to fabricate HgI2-based digital skin dosimeters with a thickness under 25 μm. Radiation detection and pixel resolution should be evaluated to accurately confirm the field junction gap.