Journal of the Korea Academia-Industrial cooperation Society (한국산학기술학회논문지)

The Korea Academia-Industrial cooperation Society (한국산학기술학회)
권호 표지
DOI QR코드

DOI QR Code

Analysis of the Relationship between Employee Benefits Spending and Business Performance -Focused on KOSPI-

기업의 복리후생비 지출과 경영성과 간의 관계분석 - Kospi기업을 중심으로 -

  • Oh, Jung (Division of Economics and Commerce, Hoseo University) ;
  • Lim, Eung-Soon (Department of Economics, Hannam University)
  • Received : 2014.07.02
  • Accepted : 2014.10.10
  • Published : 2014.10.31
Download PDF
⟨ Previous Next ⟩

Abstract

This study examined the Efficiency Wage Hypothesis. For this study, the time series data of 171 companies was checked carefully from 2000 to 2011 to determine the relationship between employee benefits spending and business performance. Advanced research showed that the employee benefits affect the corporate performance. On the other hand, they did not examine whether the employee benefits can be one the factors affecting business performance. Therefore, causality analysis of employee benefits spending and business performance was performed. This study shows that employee benefits spending can be a factor of the business performance.

본 연구에서는 효율성임금이론에 대하여 검토를 실시하였다. 이를 위해 본 연구에서는 2000년부터 2011년까지 171개 기업에 대한 복리후생비 지출과 경영성과 간의 관계를 살펴보았다. 기존의 선행연구에서는 기업의 경영성과에 복리후생비지출이 영향을 미친다는 것이었다. 하지만 복리후생비가 경영성과의 원인이 되는지에 대한 검토는 이루어지지 않았다. 이에 본 연구에서는 복리후생비와 경영성과 간의 인과관계에 대하여 살펴보고자 한다. 본 연구 분석결과 복리후생비의 지출이 경영성과의 원인이 된다는 것을 확인할 수 있었다.

Keywords

References

  1. Kwak, Na-Rae, "The Effect of Employee Benefits on Business Performance -Focus on the KSE-Listed and KOSDAQ-Listed Companies-, Master Degree Paper, 2011.
  2. Reid, Graham L., and Donald J. Robertson, eds. Fringe benefits, labour costs, and social security. No. 5. Allen &Unwin, 1965.
  3. kang young-gual, "The Analysis of Relation between employee benefits spending and productivity", Korean academy of social welfare conference paper, 1999.
  4. Kim, s.m and c.s. Min, "The analysis of relation of entertainment and Employee benefits using corporate performance", 28, pp. 341-363.
  5. Su-mi, Choi, "The effect of entertainment Expense on the profitability:the comparsion between the listed companies and the Non-listed companies", accountion research, 21, 1,
  6. Breitung, J., "The Local Power of Some Unit Root Tests for Panel Data", Nonstationary Panels, Panel Cointegration, and Dynamic Panels in B. H. Baltagi ed., Advances in Econometrics, Vol. 15, Amsterdam: JAI Press, 2000, pp. 161-177.
  7. Harris, R. D. F. and E. Tzavalis, "Inference for Unit Roots in Dynamic Panels where the Time Dimension is Fixed," Journal of Econometrics, Vol. 91, 1999, pp. 201-226. DOI: http://dx.doi.org/10.1016/S0304-4076(98)00076-1
  8. Levin, A., C.-F. Lin and C.-S. J. Chu, "Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties," Journal of Econometrics, Vol. 108, 2002, pp. 1-24. DOI: http://dx.doi.org/10.1016/S0304-4076(01)00098-7
  9. Choi, I., "Unit Root Tests for Panel Data," Journal of International Money and Finance, Vol. 20, No. 2, 2001, pp. 249-272. DOI: http://dx.doi.org/10.1016/S0261-5606(00)00048-6
  10. Im, K. S., M. H. Pesaran and Y. Shin, "Testing for Unit Roots in Heterogeneous Panels," Journal of Econometrics, Vol. 115, 2003, pp. 53-74. DOI: http://dx.doi.org/10.1016/S0304-4076(03)00092-7
  11. Maddala, G. S. and S. Wu, "A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test," Oxford Bulletin of Economics and Statistics, Vol. 61, 1999, pp. 631-652. DOI: http://dx.doi.org/10.1111/1468-0084.61.s1.13
  12. Baltagi, B. H., Econometric Analysis of Panel Data, 3rd ed., New York: John Wiley, 2005.
  13. Baltagi, B. H. and C. Kao, "Nonstationary Panels, Cointegration in Panels, and Dynamic Panels: A Survey," Nonstationary Panels, Panel Cointegration, and Dynamic Panels in Baltagi, B. H. ed., Advances in Econometrics, Vol. 15, Amsterdam: JAI Press, 2001, pp. 7-52.
  14. Banerjee, A., "Panel Data Unit Roots and Cointegration: An Overview," Oxford Bulletin of Economics and Statistics, special issue(supplement), Vol. 61, 1999, pp. 607-629. DOI: http://dx.doi.org/10.1111/1468-0084.61.s1.12
  15. Kao, C., "Spurious Regression and Residual-based Tests for Cointegration in Panel Data," Journal of Econometrics, Vol. 90, 1999, pp. 1-44. DOI: http://dx.doi.org/10.1016/S0304-4076(98)00023-2
  16. McCoskey, S. and C. Kao, "A Residual-Based Test of the Null of Cointegration in Panel Data," Econometric Reviews, Vol. 17, 1998, pp. 57-84. DOI: http://dx.doi.org/10.1080/07474939808800403
  17. Pedroni, P., "Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Oxford Bulletin of Economics and Statistics, Vol. 61, 1999, pp. 653-670. DOI: http://dx.doi.org/10.1111/1468-0084.61.s1.14
  18. Pedroni, P., "Panel Cointegration: Asymptotic and Finite Sample Properties of Pooled Time Series Tests with an Application to the PPP Hypothesis," Econometric Theory, Vol. 20, 2004, pp. 597-625. DOI: http://dx.doi.org/10.1017/S0266466604203073
  19. Granger, C.W.J., "Investigating Causal Relations by Econometric Models and Crossspectral Methods", Econometrica, Vol 37, No 3, July, 1969, pp 424-438. DOI: http://dx.doi.org/10.2307/1912791
  20. Hamilton j. d. and r. Susmel, "Autoregressive conditional heteroskedasticity and changes in regime", journal of econometrics, Vol. 64, Issues 1-2, 1994, pp. 307-333. DOI: http://dx.doi.org/10.1016/0304-4076(94)90067-1