ERP시스템의 활용이 기업성과에 미치는 영향에 관한 연구

Abstract

Recently, many companies are eager to apply ERP system to their business in order to manage their limited business resource efficiently and reasonably. Also, many companies have been implementing ERP system to overcome new challenges and survive among severe business environments which are dramatically changing. The objective of this paper is to investigate and measure performance factors influencing ERP implementation based on the financial performance. This study is to investigate the impact of ERP system on the firm's financial performance. Also, This study investigates empirically whether the implementation of an ERP system effectively reduces manipulation of earnings. In this paper, with appropriate sample of ERP adopting firms and multi-years financial data, we examined that whether implementation of ERP systems have shown improved performance using a wide variety of performance measures. We employed the intra-firm comparison and match pair comparison methods to compare performance measures before and after ERP implementation within a firm over 7-year times period. The results of this study can be summarized as follows: First, there were no significant improvement in the inventory ratios for 3 and 4 years after ERP adoption. By considering these test results, hypothesis 1 can be reject. Second, this paper results show us that ERP implementation had positive effects on the ratios of total capital growth. By considering the ratios of growth, hypothesis 2-3 can be supported. Third, the results of the profitability ratios show us that ERP implementation had positive effects on the ratios of return on investment. By considering these test results, hypothesis 3-3 can be supported. Fourth, The results of the activity ratios show us that ERP implementation had positive effects on the turnover ratios of asset. By considering these test results, hypothesis 4-1 can be supported. Fifth, this paper results of the stability ratios show us that ERP implementation had positive effects on receivable ratio, quick ratio and stockholder's equity ratio. By considering effect of the stability all the hypothesis 5 can be supported. Sixth, this paper results of the personnel expenses ratios show us that ERP implementation had significant effects on personnel expenses growth rato and personnel expenses to total expenses. By considering effect of the personnel expenses, hypothesis 6-1 and 6-2 can be supported. Seventh, this paper results of the productivity ratios show us that ERP implementation had significant effects on personnel sales growth rato. By considering effect of the productivity ratios, hypothesis 4-1 and 4-2 can be supported. Eighth, to measure discretionary accruals, we resorted to the cross-sectional adaptation of the Jones model. This study shows that the research hypothesis 8 is rejected under the 1% significance level. Although, statistically no significant reduction of discretionary accruals, there was reduction after the introduction of an ERP system.