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The Connectedness between COVID-19 and Trading Value in Stock Market: Evidence from Thailand

  • GONGKHONKWA, Guntpishcha
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.7
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    • pp.383-391
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    • 2021
  • This study examines the connectedness between the number of COVID-19 cases in Thailand and trading value among investors in the Stock Exchange of Thailand. Daily data of COVID-19 cases and trading value were sourced from the Thailand ministry of public health and the Stock Exchange of Thailand, from January 12, 2020 to May 11, 2021. This study applies a multiple linear regression analysis to explain the relationship between variables. Empirical evidence clearly shows that the volatility of trading value was affected by COVID-19's new, confirmed, and deaths cases within the first pandemic period more than during the second pandemic period. Nevertheless, during the third pandemic period there is no evidence that the new, confirmed, and deaths cases significantly influenced trading value. Furthermore, the results show that COVID-19's new and deaths cases have a negative coefficient that indicated the trading value-buy/sell decreased in response to COVID-19's new and deaths cases, whereas the confirmed COVID-19 cases have a positive coefficient that indicated the trading value-buy/sell increased in response to COVID's confirmed cases. In summary, this study suggests that the number of COVID-19 cases have a significant impact on the trading value in the short term more than in the intermediate and long term.

The Effects of Perceived Risks on Food Purchase Intention: The Case Study of Online Shopping Channels during Covid-19 Pandemic in Vietnam

  • NGUYEN, Cuong;TRAN, Doan;NGUYEN, Anh;NGUYEN, Nhan
    • Journal of Distribution Science
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    • v.19 no.9
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    • pp.19-27
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    • 2021
  • Purpose: Purchasing food via online shopping channels is booming during Covid-19 Pandemic in Vietnam. However, the perceived risks of food bought via online shopping channels may discourage consumers. Hence, this study assesses the effects of perceived risks on food purchase intention via online shopping channels in Vietnam. Research design, data and methodology: This study applied the multiple regression analysis with 253 samples collected from consumers who frequently purchase food via online shopping channels in Vietnam. The questionnaire is provided to respondents via Google Form. The sample collection method is convenience sampling. Three hundred samples were collected, but 253 samples are used after filtering the responses with missing data. The Exploratory Factor Analysis (EFA) and regression analysis are used for data analysis on SPSS software version 20. Results: The results show that product risk, security risk, time risk, and fraud risk of the seller negatively affect the intention to buy food via online shopping channels in Vietnam. Conclusions: The study provides several implications and recommendations for food companies and online food sellers. Reducing customers' perceived risks online food makes customers more willing to buy food online during Covid-19 Pandemic. Limitations and suggestions for further research are also discussed.

The Impact of Consumer Ethnocentrism on Purchase Intention: An Empirical Study from Vietnam

  • NGUYEN, Thanh Ngoc Dan;DANG, Phuong Nhu;TRAN, Phu Hoang;NGUYEN, Trang Thi Thuy
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.2
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    • pp.427-436
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    • 2022
  • Ethnocentrism in users plays an important role in predicting user behavior when deciding between imported and domestic goods. The purpose of this study is to look into the influence of ethnocentrism in customer behavior on brand image, perceived value, perceived quality, brand trust, and brand buy intention. Vietnamese customers prefer homegrown brands. The moderate role of consumer ethnocentrism in the conceptual framework emphasizes the country origin of the product is the most important factor. It also demonstrates how the intention of Vietnamese consumers to buy domestic brands is substantially influenced. To test the hypothesis, this article used a quantitative technique utilizing PLS-SEM software. With 917 samples, the study used the quota sampling approach to collect data from students at 10 universities in Ho Chi Minh City. The data suggest that all players have a positive association and that consumer ethnocentrism has a moderate impact in the Vietnamese brand context. Following that, suggestions are made to help Vietnamese firms create and retain their brands in the face of severe competition from global brands in the domestic market. To increase consumer intent in purchasing behavior, the Vietnamese local company needs to establish a strong brand.

Determinants of consumers' purchasing intention toward organic foods: A study in Danang city, Vietnam

  • NGUYEN, Tran Thuy An
    • The Korean Journal of Food & Health Convergence
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    • v.8 no.4
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    • pp.1-10
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    • 2022
  • The term "Organic Food" is no longer strange to consumers around the world. Many people are concerned about their safety and health, so they have chosen this safe food. However, the decision to buy this product still faces some difficulties and challenges, such as the high price of organic products, short-time use, supply of products and so on. This study conducted an analysis to investigate the determinants of Danang City consumers' intention to purchase organic foods in Vietnam. The results show that, there are 6 influencing factors, including: subjective norm, food safety & health consciousness, consumer knowledge & environment consciousness, price of the product, availability product and trust in brands and certifications. The study uses a combination of 2 qualitative and quantitative methods. Qualitative methods are used through analysis, evaluation and synthesis of previous studies to build research models and scales for variables. Quantitative method with 250 samples applied SPSS 25.0 to test the scale by Cronbach's Alpha coefficients, to analyze the discovery factor EFA and regression analysis. The findings of the study provide useful information for consumers to buy organic foods and for marketers to increase sale of organic foods in Vietnam in general and Danang city in particular.

Time-Invariant Stock Movement Prediction After Golden Cross Using LSTM

  • Sumin Nam;Jieun Kim;ZoonKy Lee
    • Journal of the Korea Society of Computer and Information
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    • v.28 no.8
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    • pp.59-66
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    • 2023
  • The Golden Cross is commonly seen as a buy signal in financial markets, but its reliability for predicting stock price movements is limited due to market volatility. This paper introduces a time-invariant approach that considers the Golden Cross as a singular event. Utilizing LSTM neural networks, we forecast significant stock price changes following a Golden Cross occurrence. By comparing our approach with traditional time series analysis and using a confusion matrix for classification, we demonstrate its effectiveness in predicting post-event stock price trends. To conclude, this study proposes a model with a precision of 83%. By utilizing the model, investors can alleviate potential losses, rather than making buy decisions under all circumstances following a Golden Cross event.

The Mediating Role of Perceived Risk in the Relationships Between Enduring Product Involvement and Trust Expectation (지속적 제품관여도와 소비자 요구신뢰수준 간의 영향관계: 인지된 위험의 매개 역할에 대한 실증분석을 중심으로)

  • Hong, Ilyoo B.;Kim, Taeha;Cha, Hoon S.
    • Asia pacific journal of information systems
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    • v.23 no.4
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    • pp.103-128
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    • 2013
  • When a consumer needs a product or service and multiple sellers are available online, the process of selecting a seller to buy online from is complex since the process involves many behavioral dimensions that have to be taken into account. As a part of this selection process, consumers may set minimum trust expectation that can be used to screen out less trustworthy sellers. In the previous research, the level of consumers' trust expectation has been anchored on two important factors: product involvement and perceived risk. Product involvement refers to the extent to which a consumer perceives a specific product important. Thus, the higher product involvement may result in the higher trust expectation in sellers. On the other hand, other related studies found that when consumers perceived a higher level of risk (e.g., credit card fraud risk), they set higher trust expectation as well. While abundant research exists addressing the relationship between product involvement and perceived risk, little attention has been paid to the integrative view of the link between the two constructs and their impacts on the trust expectation. The present paper is a step toward filling this research gap. The purpose of this paper is to understand the process by which a consumer chooses an online merchant by examining the relationships among product involvement, perceived risk, trust expectation, and intention to buy from an e-tailer. We specifically focus on the mediating role of perceived risk in the relationships between enduring product involvement and the trust expectation. That is, we question whether product involvement affects the trust expectation directly without mediation or indirectly mediated by perceived risk. The research model with four hypotheses was initially tested using data gathered from 635 respondents through an online survey method. The structural equation modeling technique with partial least square was used to validate the instrument and the proposed model. The results showed that three out of the four hypotheses formulated were supported. First, we found that the intention to buy from a digital storefront is positively and significantly influenced by the trust expectation, providing support for H4 (trust expectation ${\rightarrow}$ purchase intention). Second, perceived risk was found to be a strong predictor of trust expectation, supporting H2 as well (perceived risk ${\rightarrow}$ trust expectation). Third, we did not find any evidence of direct influence of product involvement, which caused H3 to be rejected (product involvement ${\rightarrow}$ trust expectation). Finally, we found significant positive relationship between product involvement and perceived risk (H1: product involvement ${\rightarrow}$ perceived risk), which suggests that the possibility of complete mediation of perceived risk in the relationship between enduring product involvement and the trust expectation. As a result, we conducted an additional test for the mediation effect by comparing the original model with the revised model without the mediator variable of perceived risk. Indeed, we found that there exists a strong influence of product involvement on the trust expectation (by intentionally eliminating the variable of perceived risk) that was suppressed (i.e., mediated) by the perceived risk in the original model. The Sobel test statistically confirmed the complete mediation effect. Results of this study offer the following key findings. First, enduring product involvement is positively related to perceived risk, implying that the higher a consumer is enduringly involved with a given product, the greater risk he or she is likely to perceive with regards to the online purchase of the product. Second, perceived risk is positively related to trust expectation. A consumer with great risk perceptions concerning the online purchase is likely to buy from a highly trustworthy online merchant, thereby mitigating potential risks. Finally, product involvement was found to have no direct influence on trust expectation, but the relationship between the two constructs was indirect and mediated by the perceived risk. This is perhaps an important theoretical integration of two separate streams of literature on product involvement and perceived risk. The present research also provides useful implications for practitioners as well as academicians. First, one implication for practicing managers in online retail stores is that they should invest in reducing the perceived risk of consumers in order to lower down the trust expectation and thus increasing the consumer's intention to purchase products or services. Second, an academic implication is that perceived risk mediates the relationship between enduring product involvement and trust expectation. Further research is needed to elaborate the theoretical relationships among the constructs under consideration.

Changes in Korean Consumer's Perception and Attitudes toward Genetically-modified Foods (우리나라 국민의 유전자재조합식품에 대한 인지도 및 수용도 변화)

  • Kwon, Sun-Hyang;Chung, In-Shick;Choi, Mee-Kyung;Chae, Kyung-Yun;Kyung, Kyu-Hang
    • Journal of Food Hygiene and Safety
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    • v.23 no.3
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    • pp.182-190
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    • 2008
  • A survey on consumer's awareness and perception toward genetically-modified(GM) foods was conducted on 2110 random samples of Korean consumers. More than 65% of the respondents were exposed to some information related to GM foods. The respondents answered that the greatest benefit of the development of GM foods is remedy of potential food shortages in the future. More than 90% of Korean consumers wanted GM foods to be labeled as such. More than 50% of the respondents would not buy until they know more about GM foods. Only 35.8% of Korean consumers were found to know that food items originating from plants contained genes. More consumers responded that they would not buy herbicide-resistant GM soybean but buy vitamin-enriched GM soybean. Many Korean consumers' decision of acceptance or rejection of GM foods depend not on the basis of biotechnology, but on the basis of the degree of benefit to the consumers. Only 6.4% of Korean consumers responded that GM foods were the greatest threat to the safety of Korean foods. The perception of Korean consumers on GM foods has not changed significantly during the past 5 years.

The Consumers' Consciousness toward the Import Liberalization of Agricultural Products - A peculiar case study about Consumers in Taegu.Kyungpook Area - (농산물(農産物) 수입개방(輸入開放)과 소비자(消費者) 의식(意識) - 大邱(대구).경북지역(慶北地域) 소비자(消費者)들에 대한 사례조사(事例調査)를 중심(中心)으로 -)

  • Lee, Ho Chol;Yu, Byung Gyu;Kim, Doo Han
    • Current Research on Agriculture and Life Sciences
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    • v.9
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    • pp.71-86
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    • 1991
  • This study has tried to illuminate a shocking phenomenon, the import liberalization of agricultural products in the aspect of Consumer consciousness. It has been applied that Table Analysis by using computer programming for instance-MINITAB, and Correlation Analysis and Multiple Regression Analysis, things like that. The results of this study are as follows; 1. Comparing domestic and imported stuffs, Comsumers came to awareness that domestic products superior to foreign's in the cases of the degree of freshness, taste and pollution damage, in the meanwhile, inferior to the cases of price and wrapping. Food self-supplyment is considered as one of the most important things of all, moreover, by most comsumers and health food and conventional food are favored by high class people. 2. Bying imported stuffs could clearly be fatal blow to our agriculture is fully recognized among consumers, what is more, there would only be doomed to our agriculture, too. 3. The most mass-purchasing imported stuffs by consumers illustrates in order; Beef, Banana, Coffee and Tabacco etc. The most significant elements why consumers buy foreign product is that the prices of them are relatively lower than those of ours. Besides, the next causes lies to non-producing stuffs and curiosity. 4. It must've been generally conceived by most consumers that Open-the-market-policy has been progressed for USA's repression and our monopolistic capital. Therefore, they demand that our market should be contained against unadviciable wave, moreover, keep paying attention to the policy how it will work to protect Korean agriculture. 5. Consumer attitude toward buying imported agricultural products is double-faced, Never-buy occupied only 24.4 % among respondents, but overwhelming respondents say non-producing stuffs can be obtained selectively. In this case, however, never-buy-movement would be backed by consumers in proportion to their educational background. 6. Various consumer minds surrounding Open-the-market-situation, in the end, has been analized econometrics through eleven variables to approach accurate fulfillments.

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A Three-year Survey on Korean Consumer's Awareness, Perception and Attitudes toward Genetically-modified Foods; Years 2000-2002 (유전자재조합식품의 인지도 및 수용도에 대한 연차별 비교)

  • Kim, Myung-Hee;Kim, Jay-Wook;Chae, Kyung-Yeon;Park, Se-Won;Kim, Youn-Soon;Kyung, Kyu-Hang
    • Korean Journal of Food Science and Technology
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    • v.35 no.6
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    • pp.1155-1161
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    • 2003
  • A three-year (2000-2002) survey on consumer's awareness and perception of genetically-modified (GM) foods was conducted on random samples of Korean consumers. More than 65% of the respondents were exposed to some information related to GM foods. The greatest benefit of the development of GM foods was thought to be their remedy of potential food shortages in the future. More than 90% of Korean consumers wanted GM foods to be labeled. About 18% of the respondents would buy GM foods voluntarily, whereas over 46% would not until they knew more about the product. Only 39% of Korean consumers were found to have realized that food items origination from plants contained genes. More consumers responded that they would not buy herbicide-resistant GM soybean and buy vitamin-enriched GM soybean instead. Many Korean consumers appeared to make decisions of acceptance or rejection of GM foods not on the basis of biotechnology, but on the basis of the word(s) used to describe the products, such as herbicide and vitamin. Only 4% of Korean consumers responded that GM foods were the greatest threat to the safety of Korean foods.

A Study on the Consumer Ethnocentrism, Animosity and Product Judgment Effect on Foreign Products Purchase Intention : A Comparative Study between Korean and Japanese Electronic Products in China (소비자의 자민중심주의, 적대감 및 제품평가가 외국제품 구매의도에 미치는 영향에 관한 연구 : 한국과 일본 전자제품 구매에 대한 중국소비자를 중심으로)

  • Jung, Sung-Hoon;Yuan, Wang Li
    • International Commerce and Information Review
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    • v.15 no.1
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    • pp.185-206
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    • 2013
  • Recent studies validate the idea that consumer judgment of products can affect consumer purchase intentions. Consumers judge products based on product quality, after sales satisfaction, and other visible values, but consumers also judge products on country-of-origin image, brand image and such intangible values. In this paper, we will examine consumer ethnocentrism and animosity, which are frequently responsible for country-of-origin prejudices, because the offending (i.e. exporting) nation has engaged in economic, political, or even military activities that the consumer finds difficult to forgive. The results of the study show a positive effect of product judgment on consumer purchase intentions, but consumer ethnocentrism and animosity negatively affect product judgment and consumer purchase intentions of foreign products. In the Chinese market, ethnocentric Chinese consumers have negative perceptions of foreign products with negative intentions to buy them. Chinese consumers have strong animosity for Japanese products, which negatively affect product judgments and purchase intentions to buy; therefore, Japanese corporations should increase cooperation with Chinese corporations. Conversely, for Korean companies, product judgment primarily affects consumers' intentions to buy; consequently, Korean companies should improve their product quality, after-sales satisfaction, brand image and other tangible aspects to improve consumer judgment.

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