[9_1]_2011_안태식_외_성과평가시스템에서의_목표설정_kar

Formijt performijt 0109 0105 0155 1000 00003 0001

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Unformatted text preview: ) (<.0001) (<.0001) (0.1284) -0.032 0.025 0.079*** -0.051* -0.017 (0.2985) (0.4127) (0.0099) (0.0966) (0.5822) -0.088*** -0.035 0.251*** -0.107*** 0.114*** (<.0001) (<.0001) (0.0008) (0.1854) (<.0001) -0.208*** -0.406*** -0.565*** 0.277*** 1.000 (<.0001) (<.0001) (<.0001) (<.0001) -0.138*** -0.192*** -0.149*** 1.000 (<.0001) (<.0001) (<.0001) -0.374*** 0.334*** 1.000 (<.0001) (<.0001) -0.493*** 1.000 (<.0001) 1.000 SIZEi,t LEVi,t ROAi,t LOSSi,t-1 0.042 (0.1160) 0.004 (0.8867) 0.007 (0.8135) 0.004 (0.8674) 0.001 (0.961) 0.051* (0.0541) 0.038 (0.1463) -0.061** (0.0208) 0.115*** (<.0001) 0.025 (0.3493) 0.085*** (0.0012) -0.023 (0.4528) -0.058** (0.0268) 0.026 (0.333) -0.055** (0.0382) -0.001 (0.9585) 0.004 (0.8879) 0.018 (0.4938) -0.236*** (<.0001) -0.005 (0.8387) -0.030 (0.2503) 0.026 (0.4022) -0.029 (0.2751) 0.084** (0.0014) -0.017 (0.5277) -0.052** (0.0507) -0.033 (0.2106) 0.013 (0.6331) -0.019 (0.4659) -0.574*** (<.0001) -0.028 (0.2952) 0.024 (0.3630) -0.042 (0.1737) 0.002 (0.9335) -0.042 (0.1151) 0.075*** (0.0044) -0.001 (0.9595) 0.004 (0.8716) -0.025 (0.3441) -0.221*** (<.0001) 0.495*** (<.0001) -0.483*** (<.0001) 1.000 1.000 1.000 1.000 INFLA GDP_ TIONt GROWTHt -0.084*** 0.016 (0.0014) (0.5358) -0.098*** 0.036 (0.0002) (0.1680) -0.089*** -0.042 (0.0035) (0.1655) 0.056** -0.024 (0.0321) (0.3693) 0.121*** 0.000 (<.0001) (0.9954) -0.120*** 0.027 (<.0001) (0.3081) -0.256*** 0.008 (<.0001) (0.7675) 0.159*** -0.021 (<.0001) (0.4274) -0.111*** -0.009 (<.0001) (0.7323) -0.081*** 0.003 (0.0021) (0.9035) 0.043 -0.024 (0.1061) (0.3559) 0.019 0.065** (0.4733) (0.0138) 0.008 0.039 (0.7534) (0.1400) -0.188*** 1.000 (<.0001) 1.000 1. The data come from 14 Korean Government Invested Companies (GOE)' performance evaluation reports over the years 1998 to 2008 (13 GOEs over the years 1998 to 2004). The total sample consists of 1,440 GOEs' performance measure observations. 2. Refer to <Table 3> for variable definitions. 3. All variables are winsorized at 1% and 99%. 4. *, **, *** Significant at 10%, 5%, and 1% two-tailed level, respectively. p-values are in parentheses. 206 회 계 학 연 구 <Table 5> Frequency Distribution of GOEs' Actual Performance vs Target Performance in Consecutive Periods Panel A. Full Sample (N = 1,440) At < Tt N Frequency % of Total 130 At-1 < Tt-1 % of Row % of Total 103 At-1 ≥ Tt-1 % of Row Panel B. TREND Sample (N = 547) At < Tt N Frequency % of Total At-1 < Tt-1 31 % of Row % of Total 31 At-1 ≥ Tt-1 % of Row Panel C. BETA Sample (N = 95) At < Tt N Frequency % of Total 4 At-1 < Tt-1 % of Row % of Total 7 At-1 ≥ Tt-1 % of Row Panel D. ASSIGN Sample (N = 305) At < Tt N Frequency % of Total 62 At-1 < Tt-1 % of Row % of Total 43 At-1 ≥ Tt-1 % of Row Panel E. NEGOTIATE Sample (N = 493) At < Tt N Frequency % of Total At-1 < Tt-1 31 % of Row % of Total 20 At-1 ≥ Tt-1 % of Row % 9.04 50.25 7.18 8.76 % 5.61 46...
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This document was uploaded on 09/24/2013.

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