[9_1]_2011_안태식_외_성과평가시스템에서의_목표설정_kar

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Unformatted text preview: i,j,t is the GOE i's is the GOE i's target actual performance of a performance measure j for fiscal year t.. Ti,j,t performance of a performance measure j for fiscal year t. 3. Variable Definition ch_TARGETi,j,t : The change in Ti,j,t (=(Ti,j,t+1 -Ti,j,t)÷Ti,j,t) PERFORMi,j,t : Ai,j,t adjusted by Ti,j,t (=(Ai,j,t-Ti,j,t)÷Ti,j,t) ch_PERFORMi,j,t : The change in Ai,j,t (=(Ai,j,t -Ai,j,t-1)÷Ti,j,t) MISSi,j,t : An indicating variable equaling 1 if Ai,j,t is less than Ti,j,t, else 0. : An indicating variable equaling 1 if Ai,j,t is larger than or equal to Ti,j,t, else 0. BEATi,j,t TRENDi,j,t : An indicating variable equaling 1 if Ti,j,t is set by a formula-based revision using past actual performances with the assumption of the normal distribution of performances, else 0. BETAi,j,t : An indicating variable equaling 1 if Ti,j,t is set by a formula-based revision using past actual performances with the assumption of the beta distribution of performances, else 0. : An indicating variable equaling 1 if Ti,j,t is set by a rators, else 0. ASSIGNi,j,t NEGOTIATEi,j,t : An indicating variable equaling 1 if Ti,j,t is set by a rators with the comparison of Ti,j,t with Ai,j,t, else 0. CHARACTERi,j,t : An indicating variable equaling 1 if a performance measure j is commonly used for all 14(or 13) GOEs, else 0. SIZEi,t : The natural logarithm of a GOE i's total assets at year t. : The leverage of GOE i at year t (=total liabilitiesi,t÷total assetsi,t). LEVi,t ROAi,t : The return on assets of GOE i at year t (=net incomei,t÷total assetsi,t). LOSSi,t-1 : An indicating variable equaling 1 if the net income of GOE i at year t-1 is less than 0, else 0. INFLATIONt : The change in the Korean customer's price index at year t (=(price indext-price indext-1)÷price indext-1). GDP_GROWTHt : The change in the Korean GDP at year t (=(GDPt-GDPt-1)÷GDPt-1). 4. All variables are winsorized at 1% and 99%. 5. *, **, *** Significant at 10%, 5%, and 1% two-tailed level, respectively. 204 회 계 학 연 구 을 의미한다. 한편 CHARACTER의 평균은 0.365이므로, 1,440개 평가지표를 속성에 따라 재분류하면 36.5%에 해당하는 526개가 14개 공공기관의 평가에 공통적으로 사용되는 공통 지표이고 나머지 63.5%에 해당하는 914개는 개별 공공기관 평가에 고유하게 사용되는 고유 지표에 해당한다. 한편 기업의 재무적 특성을 나타내는 변수를 살펴보면, LEV의 평균이 0.615이므로, 14개 공공기관은 평균적으로 양호한 재무레버리지를 사용하고 있는 것으로 나타났다. ROA의 평균 값 및 중간값은 0.006 및 0.007로 공공기관의 특성상 수익성이 높지는 않은 것으로 나타났 으며, LOSS의 평균값이 0.168인 것을 통해 전체 표본의 16.8%에 해당하는 공공기관이 전 기에 순손실을 보한 것을 알 수 있다. 우리나라 거시경제상황을 알려주는 INFLATION 및 GDP_GROWTH의 평균이 각각 0.012 및 0.043으로 나타...
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## This document was uploaded on 09/24/2013.

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