Panel data analysis on the effect of enterprise value-Nonghyup Cooperative

Nonghyup continues to grow and the fields it engages in are becoming more diverse and specialized. Accordingly, efficient evaluation based on appropriate standards are becoming important. However, as the company's size grows, efficient analysis of its internal structure becomes difficult. This study conducted panel data analysis to select an appropriate panel data model to evaluate the value of Nonghyup. As a result, the two-factor random effects model was selected as the optimal model, and based on this, the final model was selected using the backwards elimination technique to select significant variables. As a result, the greater the cash, deposits, number of union members, and loans, the more positive influence it had on net profit, while the more tangible assets and number of executives had a weak negative influence. The limitations of this study are that it was conducted with insufficient observations and limited variables provided only by Nonghyup. In future research, we expect that various explanatory variables will be supplemented and analyzed along with panel data from several large companies.