주택건설업체 부도위험 연구

A Study on Bankruptcy Risk Model of Housing Construction Companies

1. CONTENTS (1) RESEARCH OBJECTIVES With company achievement considering various management indexes and variables as well as debt ratio, to check bankruptcy possibility is very important and these are the core contents of companies for success and failure. (2) RESEARCH METHODS The method is to find out the implications by year considering the differences between bankruptcy companies and sound companies. Basically ANOVA analysis or T-Test is applied for comparative method between two groups. (3) RESEARCH FINDINGS The following conclusions are brought after analyses on changes of management indexes and bankruptcy risk of housing construction companies which have business relations with Korea Housing Guarantee Co. Ltd. As an early selecting standard of housing construction companies, it is necessary to take notice when the increasing ration of net liabilities to assets and the increasing ration of the proportion of finance to the proportion of liabilities are high and also the decline level of sales is high. Especially when total asset, sales and the rate of cash assets are low with these change tendencies, companies are exposed to bankruptcy possibility. On this subject Pre-Management for management indexes and gradation are required. 2. RESULTS The current estimated rate of accidents helps to check the current level of company bankruptcies but it doesn't work as an important index for preliminaries. Accordingly differential correspondence is required considering the feature of management index.