중소조선업계의 도산예측변수에 관한 연구

[Purpose]Until recently, the domestic shipbuilding industry poses a great risk to the local economy due to the bankruptcy of small and medium－sized shipyards and decreased orders. However, prior research in Korea lacks research on bankruptcy or management problems in specific industries. Therefore, this study focuses on the shipbuilding industry and focuses on research on which financial indicators should be managed in order to survive and maintain a company. [Methodology]This study limited sample companies to shipyards that directly receive orders at home and abroad, and verified the causes of bankruptcy through the financial differences between surviving companies and bankrupt companies using the financial data of these companies. [Findings]As a result of the analysis, as of 2005, during the booming shipbuilding industry, competitors of similar size rapidly increased, and competition with Chinese shipbuilders led to low－cost orders from flagship ships. Reduced operating profit. In addition, rising prices of raw materials and parts due to the increase of the same company, facility expansion due to the aftermath of the financial crisis, and deterioration of corporate capital liquidity can be identified as major factors behind the bankruptcy of small and medium－sized shipyards. [Implications]It can be seen that the risk of excessive facility investment and failure to invest in financial products causes the company to go bankrupt for a short period of time, so a thorough investigation should be preceded before carrying out such a case.