Earticle

초록

영어

The purposes of this paper is to analyze the usefulness of productivity indicators in corporate financial distress prediction using the sample of Korean manufacturing firms which failed during the period of 2000～2004. This study focuses on productivity indicators, since previous studies mainly examined various financial ratios which belong to profitability, liquidity, and financial structure and interest paying ability of firms as failure predictors. The main empirical results can be summarized as follows. First, the productivity indicators such as value added to sales, value added to total asssets, value added per employee, and current income per employee show significant differences in averages between failed and normal firms. Second, the correlation analysis between the dummy variable denoting failure status and productivity indicators show significant negative correlation as expected. Third, in the univariate logit analysis to predict corporate failure one year later, the model developed by each of productivity indicators predicts corporate failure correctly by 74.1～79.0%. Fourth, the performance of combined logit model including financial ratios and productivity indicators show improved predictive accuracy compared to the model including financial ratios only. What this paper contributes may be the examination of productivity indicators in the corporate financial distress prediction. Still, the test of various productivity indicators remains for further studies.

목차

Ⅰ. 서론
 Ⅱ. 기존연구의 검토와 연구가설의 설정
 Ⅲ. 표본기업과 자료, 재무지표 및 연구방법
 Ⅳ. 실증분석결과
 Ⅴ. 요약 및 결론
 참고문헌
 ＜Abstract＞

키워드

저자

• 신동령 [ Dong－Ryung Shin | 단국대학교 경상대학 교수 ]

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  생산성연구: 국제융합학술지 [Productivity Research: An International Interdisciplinary Journal]

• 간기

  격월간

• pISSN

  1225-3553

• 수록기간

  1987~2025

• 등재여부

  KCI 등재

• 십진분류

  KDC 325 DDC 330