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KMID : 0926620100150020001
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Korean Journal of Hospital Management
2010 Volume.15 No. 2 p.1 ~ p.14
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Analysis on Investment Effect in Hospitals : PEFR and Tangible Assets
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Lee Yong-Chul
Jung Yong-Mo
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Abstract
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This study tried to analyze about the investment effects on the spent capital and possessed tangible assets of some hospitals during their hospital management. For this analysis purpose, this study used the financial data of 100 hospitals which presented their financial statements to an finance-information company from 2004 to 2006. The analysis was done with PEFR(Percentage of External Funds Required) and Tangible Asset. The FEPR considered the retained interior fund relating to the investment types in the hospital industry. And the Tangible Asset was related to the possession condition of facilities and equipment. The EBIT rate(Earnings before interest and tax to sales) meaning the management performance and tangible asset turnover were used as the measured variables of investment effect. As the result of data analysis, it was identified that the tangible asset like the hospitals’s facilities and equipment was not an agent significantly to influence on the management performance(EBIT rate), the eventual goal of hospital management. But, it was identified that there was some differences tangible asset turnover according to each hospital’s main characteristics. And at targeting the all sample hospitals, it was found that the management performance(EBIT rate) had some significant effect on the retained earnings rate, a part of source of PEFR.
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KEYWORD
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Hospital, Investment Effect, Tangible Assets, PEFR(percentage of external funds required), EBIT(Earnings before interest and tax to sales)
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