Earticle

초록

영어

This paper examines the empirical cross-sectional relationship between cash flow, earnings and market value added for listed firms on the Korea Stock Exchange. It does so because of recent claims that cash flow is a better measures for use by firms in internal planning and control activities than, say earnings. If such is the case then presumably, we would expect that cash flow has a stronger association with market value than, for example, earnings. We conclude that the relationship between cash flow and market value is by no means perfect. Nonetheless, cash flow has a strong association with market value, in conjunction with RD expenditures and opening and closing book value. Also We empirically confirmed that the long-term measures such as the long-term earnings & cash flow types, have a significant impact on MVA. As a consequence, the long-term element of cash flow, earning measures does appear to add explanatory power to equation involving merely earnings, cash flow, RD expenditures and advertisement expenditures. My view, therefore, would be that the evidence presented in the paper provides some support for advocates of the use of cash flow and the long-term measures for planning and control.

목차

I. 序論
  1. 問題의 提起
  2. 硏究의 目的과 方法
 II. 先行硏究
  1. 業績評慣의 理論的 模型
  2. 先行硏究
 III. 實證昭究의 設計
  1. 硏究模型의 設定
  2. 變數의 定義및 測定
  3. 樣本의 遺定과 統計的 處理
 IV. 硏究結果의 分析
  1. 記述統計量
  2. 相關關係分析
 V. 結論
 參考文獻
 Abstract

저자

• 손병기 [ Byung Ki Son | 인제대학교 경영학부 교수 ]

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  기업경영연구 [Korean Corporation Management Review]

• 간기

  격월간

• pISSN

  1229-957X

• 수록기간

  1994~2025

• 등재여부

  KCI 등재

• 십진분류

  KDC 325 DDC 658