기업지분가치 평가에서의 영업권의 가치관련성

전진문,서보욱 한국산업경영학회 1999 經營硏究 Vol.14 No.4

個別投資者의 特性에 따른 會計情報 依存性向에 관한 實證的 分析

全瑨文 효성여자대학교 산업경영연구소 1990 경영경제 Vol.7 No.-

貸借對照表上의 「投資와 其他資産」 項目의 情報效果

全瑨文 효성여자대학교 산업경영연구소 1989 경영경제 Vol.6 No.-

企業의 規模와 財務諸表의 情報量에 관한 硏究

全瑨文 효성여자대학교 산업경영연구소 1987 경영경제 Vol.4 No.-

The Capital Aset Pricing Model has been challenged recently by several studies that point to certain anomalies in capital market related to firm size. Banz reported a nonlinear relation between the aggregate market value of a firm's common stocks and the stock's mean return. Reinganum found that high earning-price)E/P) stocks had higher returns than low E/P ratio stocks and that, after controlling for size, the E/P effect largely disappeared. Zeghal found that there is an inverse relationship between firm size and the informational content of financial statements. In this study, we work within the framework of hypothesis in an attempt to identify and analyze the economic factors that might explain the anomalies related to firm size. The hypothesis is that, 'Because less information is available on small firms, their financial statements have a greater informational content than those of large firms'. The amount of information available on a firm tends to increase with its size. Because more information is produced and disseminated about large firms, investors can anticipate more easily the performance of financial statements of large firms gives little information that is unanticipated by the capital market by using competitive sources of information, For the purpose of this study, the definition of information are essentially those relative return variability (price) and relative volume of transactions (volume). The sample consists of 150 listed companies in Korea for the years 1982, 1983, and 1984. The sample includes all the firms listed on the Korea Stock Exchanges which has 500 won in par value and available in stock price and stock transaction volume without missing data. For the measure of the informational content of the financial statements, we used decomposition measure developed by Lev. The calculation of the stock price decomposition measure time period from t-1to t0 is defined as follow <본문참조> The calculation of the stock trade volume decomposition measure time period from t-1to t0 is defined as follow <본문참조> (Table 1) Summerizas the informational content of Financial Statements calculated by above decomposition measure. <본문참조> This results implies that the informational content of financial statements reflected on stock price changes with firm size period from t-1 to t+1 is as IS(P_t-1 - P_t0) > IL(P_t-1 - P_t0) > IM(P_t-1 - P_t0) and from to to t+1 is as follow IL(P_t0 - P_t+1) > IS(P_t0 - P_t+1) > IM(P_t0 - P_t+1) These facts mean that informational content of financial statements on stock price change measured by decomposition analysis reveal irrelevant with the firm size. But the informational content of stock transaction volume change measured by decomposition measure result as follows. IS(V_t1 - V_t0) > IM(V_t-1 - V_t0) > IL(V_t-1 - V_t0) IS(V_t0 - V_t+1) > IL(V_t0 - V_t+1) > IM(V_t0 - V_t+1) This results mean that financial statements in small firm have a greater informational content reflected on the trad volume than those of the large firm especially in the period from t-1 to t0. The evidence presented in this study supports (even though partially) the hypothesis 'Because less information is available on small firms, their financial statements have a greater informational content than those of large firms'.

監査意見表明에서의 重要性의 判斷 因子에 관한 硏究

全瑨文 효성여자대학교 산업경영연구소 1995 경영경제 Vol.12 No.-

大邱地域 中小企業의 效率的인 技術開發 方案에 관한 硏究

全瑨文,張晩植,尹在坤,金圭昌,李栽燁,朴筍植,黃建夏 효성여자대학교 산업경영연구소 1988 경영경제 Vol.5 No.-

For modern business firms, the most important factor in determining comprtitiveness of a firm is technology, rather than capital. Technogical innovation is a driving force to develop an economy and is essential in growth and/or survival of a business firm. Following studies concerned with this subject, small business firms seem to be more efficient in technological innovation and developing new technology in several respects. Espercially in the new technology based industries, the small business firms have several advantages in technological innovation. In this study, we tried to show how to plan a technology development strategy in relation to management strategy when small business of theoretical and empirical study, we aimed to show the way to efficient management and procedure of technological innovation. For the research methodology, we firstly reviewed and analyzed current and previous studies about technological innovation strategy, efficient management, and selection of R&D projects. Secondly, the results of this theoretical study was examined empirically. The empirical study contains 153 questionaires and 30 interviews for business firms of this area. In addition, for the evaluation criteria for the selection of R&D projects, we sent questionaires to 60 professors who teaches R&D OR in university or college level. The result of these questionaires was analyzed and compared with that of the business firms of this area. The result of this empirical study shows that top management of small business firms should notice the importance of technological innovation and try to stimulate R&D activity. For the evaluation criteria for R&D projection, the criteria which could reduce the possibility of future uncertainty, maximize profit, and he suited for the situation of the business firm, should be established.

우리나라 上場企業의 監査意見중 非適正意見의 分布分析

全瑨文 대구효성가톨릭대학교 1996 연구논문집 Vol.53 No.1

An independent auditor's opinions of finandicial statements is one of the most important contents of accounting information. The purpose of this study is to investigate the distribution of auditor's non-clean opinions(e.g. qualified opinion, adverse opinion, and disclaimer of opinion) on financial statements of listed companies in Korea during 1985-1994. The disrtibution of auditor's opinions and the distribution of qualified opinion amounts by net income(Q/NI) and total assets(Q/A) are investigeted by year, industry, and firm size respectively. The results indicate that the average rate of companies wiht non-clean opinion is 6.2% of all listed companies during the 10 years. The wood and wood products industry is proved to have the most non-clean audit opinions during the years. Finaly the average rate of qualified audit amounts by total assets is 2.4%, and this rate is indifferent by firm size, but different by year and industry. We concluded that there is no stable ratio for general guideline in auditor's opinion expression.

線型計劃法에 의한 推定財務諸表 作成

全瑨文 대구효성가톨릭대학교 1980 연구논문집 Vol.22 No.1

財務會計에서의 重要性의 槪念 : 文獻的檢討를 中心으로 Survey in related literatures

全瑨文 대구효성가톨릭대학교 1984 연구논문집 Vol.28 No.1

The concept of materiality has long been considered a fundamental and integral part of the financial accounting and reporting process. Numerous references to materiality may be found in accounting literatures, including publications of the KICPA (Korea), AICPA, SEC and other governmental bodies, such as CASB, ICC, and of professional societies such as AAA, NAA and some other countries such as Canada, United Kingdom, Australia and Japan. Some case law in the United States also provides references to the concept of materiality as it relates to financial accounting and reporting. In addition, a number of empirical studies have considered various aspect of materiality. Conclusively, the nature of the concept of materiality can be summerized as follows. 1. The concept of materiality means relative terms. 2. Materiality dependent upon the judgement of the professional accountants. 3. The concept of materiality means the contents and items could make influence the average prudent users' decisions. 4. The items must be regarded as material if its omission, nondisclousure or misstatement would result in destortion or shortcoming of the users' information. 5. Materiality must be judged with the environmental factors, such as the size and nature of the business, financial effect, growth rate and future uncertainty. Therefore the concept of materiality should be considered with the quality and quantity of the items and materiality criteria should be recognized as belonging to one of two categories; determinant criteria measured in quantitative terms and modifying criteria measured in non-quantitative and relative terms.

從業員을 위한 會計報告制度에 관한 考察

全瑨文 효성여자대학교 산업경영연구소 1992 경영경제 Vol.9 No.-