環境會計에 관한 硏究

학위논문(석사)--서울大學校 大學院 :經營學科 經營學專攻,1997.Maste

(The)Properties and value-relevance of analysts` earnings forecast in Korea

학위논문(박사)--서울대학교 대학원 :경영학과 경영학 전공,2003.Docto

A Study on the Origin and Development of Mondern Financial Disclosure Policy and Accounting Principles

This study examines the process of establishing reliablity of accounting information and the development of modern financial disclosure policy, especially focused on the Great Depression(1929) in US and finds the policy implication for securing the credibility and transpancy of accounting information and disclosure policy in Korea. In this paper, we review the historical background and accounting practices with other economic reasons causing the Great Depression and then explain the procedures and efforts done by government and accounting institutions and professions to solve the economic crisis. Economic crisis following the Great Depression had a significant influence on the reliability of accounting information and disclosure policy in US. A lot of efforts to procure the credibility and transparancy of accounting information and disclosure were made through the enactment of related laws such as the Security Law and the Security Act Law as well as the development of accounting principles. These related laws emphasized on the penalty and punishment in case of accounting manipulation and injustice by management misleading investors. As a results of various efforts as above, the modern accounting disclosure practice focusing on users of accounting information came to appear. However, until now it is not certain and assured that modern accounting practice and disclosure in the true sense for users of information are prevalent and widespread when we face frequent problems with the reliability and transpancy of accounting information today

A Study on the Characteristics and Financial Performance of Kosdaq Small Companies that have Raised Debt from Government

The purpose and scope of this paper are twofold: first, exploring the characteristics of the small companies that have borrowed from government and second, evaluating financial performance of those companies receiving the financial support. We have reviewed KOSDAQ listed companies to evaluate the firm characteristics and their financial performance. The results of this paper can be summarized as follows: First, when the firms are classified into ventures and SMEs (small-medium-size) enterprises, both firms with declining trend in debt-to-equity ratio excluding government loan show a relatively high dependence on the government loan. On the other hand, the both firms that are in the upward trend in terms of asset size show that they are less dependent on the government loan. Lastly, when the financial performances of venture firms and SMEs are empirically investigated, it suggests that the government loans do not reflect positive effects on financial performance in terms of ROE and ROA. This result is not in line with our expectation that government agency and financial institutions role in selecting and monitoring investment are highly enforced so that these tremendous amounts of public money invested into venture firms are not wasted