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KMID : 1170320160220010001
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Korean Journal of Health Economics and Policy
2016 Volume.22 No. 1 p.1 ~ p.20
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Hospital Diversification and Financial Performance in Korea
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Cho Dong-Young
Suh Won-Sik
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Abstract
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The purpose of this study was to investigate the impact of diversification strategy, started in early 2000s, to improve poor financial structure of Korean hospitals. The study utilized 722 hospitals that passed the standardization audit undertaken by the Korean Hospital Association from 2008 to 2012. The major findings of this study are as follows. First, diversification shows a positive relationship with hospital performance. Second, both related and unrelated diversification affect positively to the business performance. In addition, the effect of related-diversification is greater than unrelated diversification. Therefore, results suggests that Korean hospitals should pay attention to both when considering diversification.
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KEYWORD
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Hospital diversification, related/unrelated diversification
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