외식기업의 현금보유에 대한 레버리지의 영향

• 영문명: The Effect of Leverage on Cash Holding of Foodservice Companies
• 발행기관: 관광경영학회
• 저자명: 구원일
• 간행물 정보: 『관광경영연구』제23권 제1호, 107~122쪽, 전체 16쪽
• 주제분류: 사회과학 > 관광학
• 파일형태: PDF
• 발행일자: 2019.01.31

영문 초록

The purpose of this study is to find out the effect of leverage on the level of cash holdings and to help manager 's decision making. For this purpose, 46 out of 53 domestic foodservice companies, which have financial statements, confirmed the following results. First, the cash holding ratio is 63.398%, which indicates that a considerable amount of cash is needed to operate a foodservice companies. In addition, leverage is 55.335%, which is well managed. As for other variables, it is considered that the foodservice companies operate trend-oriented according to the consumption trend. Second, although the correlation coefficient is not high in the correlation analysis, most of them are related. In particular, cash holdings and leverage could be replaced, and leverage could be adjusted based on liquidity. Also, the higher the cash flow ratio, the higher the cash holdings. Third, the indicators that have an influence on the level of cash holdings are leverage, firm size, ratio of operating income to sales and net working capital. If leverage is high, or the size of the firm is large and the liquid assets are available, then the company does not need to hold a lot of cash. However, if the operating profit margin is high, cash inflow will increase. This suggests that the leverage of the food service company will affect the level of cash holdings, and it will be possible to secure cash by using liquid assets.

목차

Ⅰ. 서 론

Ⅱ. 이론적 배경

Ⅲ. 연구설계

Ⅳ. 분석결과

Ⅴ. 결 론

참고문헌

키워드

Foodservice Companies Leverage Cost of Debt Cash Holding Cost of External Financing