국내 식품제조업 재무 특성에 따른 한계기업 식별요인 탐색 연구

초록

This study examines the rising prevalence of zombie firms in the Korean food manufacturing industry, highlighting their negative impact on growth and sustainability. Using KoData financial data from 2000 to 2021, the analysis focuses on companies with at least five years of operational history. The main analytical techniques were used in this study included descriptive statistics analysis, cluster analysis, and chi-square tests, the study identifies key financial metrics such as quick ratio, operating profit margin, current ratio, leverage ratio, and total asset turnover as determinants of zombie firms. Additionally, it distinguishes malignant zombie firms from general zombie firms through factors like quick ratio, after-tax average interest rate, and inventory turnover ratio. This research uniquely differentiates between zombie and healthy firms, offering insights into the financial characteristics essential for corporate growth. By elucidating these factors, the study provides policymakers with actionable criteria for managing zombie firms and promoting industry-specific strategies for recovery. Its findings represent a significant contribution to understanding and addressing the challenges posed by zombie firms in South Korea.

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