재고자산의 비정상적 변동이 신용평가에 미치는 영향

Abstract

The Effects of Abnormal Changes in Inventory on Credit Evaluation

Chang - Kuy, Lee Advisor : Prof. Moon-Tea Kim, Department of Business Adminstration Graduate School of Business Adminstration, Chosun University

My research examines to reflect management of credit rating abnormal increase about inventory asset. My research expected if a manager upgrade credit rating to take inventory asset, it expect that inventory asset level compared sales of this term increased more than last quarter. When I analysis for 2,367 a cross sectional report from 2007 to 2009 ; First, inventory assent increase and credit rating show very similar positive correlation. Second, credit rating point of inventory asset increased group highs more than inventory asset decreased group. And this gap also shows similar statistic about 1 percent level. Third, last year credit rating according to Logit Analysis showed that it is concerned similar positive correlation by inventory asset of this term. Also, linear regression analysis using inventory asset shows up the higher credit grades, the higher credit rating point. This is resulted controlling within effect credit rating for ROA and DEBT, SIZE etc. Manager means to use inventory asset variations for credit rating of improvement. This result have supporting strongly research hypothesis to make use of inventory asset to credit rating manage. My research suggests empirical result to make use of credit rating management that manager mediates intentionally inventory asset level. This research is realized the important of the problem inventory asset to investor.