2015 Volume 23 Issue 2 Pages 33-44
Manufacturing system such as Toyota Production System establishes its superiority based on mid-to-long term viewpoint, whereas short-termism in profit management has advanced since shareholder-value-oriented management appeared and developed. One of its backgrounds is that the institutional investor’s activity to search for low PER stocks or good settlement causes short-termism in profit management through the investor relationship. It is one of the important management problems, especially in manufacturing company how to change confrontation (dysfunction) into integration (eufunction) between mid-to-long term schema and short term one in management system. For the approach to it, this paper shows Potential PER as a new stock price valuation indicator and Dual-mode Management Accounting Model.
