• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.151-156
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• 2020

Small and medium enterprises (SMEs) play a very important role in developing countries. In Vietnam, SMEs operating in the field of handicrafts, besides contributing to the economy, also tasked to maintain and develop traditional handicrafts. However, accessing loans from banks of SMEs faces many difficulties. This study explores the determinants of bank lending decision for SMEs, particular, in traditional handicrafts business. Using dataset based on a survey conducted in Binh Duong province, Vietnam, we investigated to what determinant effects for loan approval. The analytical methods used include descriptive statistics for overall assessment, principal component analysis and regression to examine determinants of lending decisions. The results indicate that company's collateral was the most positive determinant to bank lending decision, follow by company's business plan. The role of company's leader is very important for banks considers to approve credit because company's leaders experience and relationship with stakeholders as well as banks have positive relations with bank's lending decision. Agreed with previous studies, the company's financial statement and company's credit history with banks are also significant determinants for lending decision. Whereas, the business environment seam unaffected lending decision as their relations is not significant..

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.445-450
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• 2020

This research investigates the role of entrepreneurial leadership in micro-enterprise development in the district of Majalengka in West Java, Indonesia. This study applied a qualitative content analysis method to understand the phenomenon of micro-enterprises comprehensively. The data of this research was collected using surveys, interviews, and a group discussion. The findings indicated that technological information adaptation plays a crucial role in the development of micro-enterprise development. Since the group of millennials dominated the leadership, it has provided more creativity by implementing technological information instead of the previous generation that faced difficulties in adopting the technology. This study noted that inadequate technology adaptation makes micro-business gradually lose customers, and the business was threatened to close. Meanwhile, the role of leadership drives the business development, sales have risen, the number of products has been increasingly diverse, and business capital and number of employees have grown. The establishment of an entrepreneur group could facilitate peer-to-peer contact, knowledge transfer, training, and intervention to enhance leadership and business development. This finding pointed out that the leadership will successfully influence business development when supported by several characteristics such as manage the business, capture opportunities, confidence, firmness, personal integrity, communication, and social and technical expertise.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.77-85
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• 2020

The aim of this study is two-fold. Firstly, it attempts to assess the level of management accounting practices (MAPs) in manufacturing companies in Vietnam. Secondly, it purports to explore the impact of potential contingency factors on the current level of MAPs in the sample of studied companies from the industrial sector in Vietnam. The study examines the hypotheses that MAPs in Vietnamese manufacturing firms are affected by a range of contingent variables. A quantitative research was conducted by sending questionnaires to the target respondents that comprise both accountants and managers in 160 manufacturing enterprises in the north of Vietnam. The first main findings from the study reveal that MAPs in Vietnam are mainly traditional rather than contemporary ones, and oriented toward the short-term rather than the long-term. The second main research findings resulted from multiple regression model show that MAPs in Vietnam are significantly affected by company size, commitment of directors, advanced manufacturing technology, and distinct number of products. However, no significant associations are found between MAPs and intensity of competition from the emerging market as hypothesized in this study. Research findings are bases for recommendations to promote the application of contemporary practices and enhance management accounting functions in manufacturing companies in Vietnam.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.599-611
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• 2020

The purpose of this study is to explore and empirically analyze the factors affecting the financial performance of Korean small- and medium-sized manufacturing companies, which are relatively insufficiently researched, in terms of human resource management (HRM). In particular, this study intends to examine the human resource management activities focusing on the individual influences of workers' attitudes on systems and policies as well as jobs and organizations. This study reviews previous research and discussions on the human resource management system, as well as the organization and job-related attitudes and financial performance of workers, for the formulation of two hypotheses. Among the HCCP data, the hypothesis was verified through reliability and correlation analysis and stepwise multiple regression analysis for small- and medium-sized manufacturing enterprises. The results show, firstly, that human resource systems and systems have the same effect, but there were differences in the degree of impact. Secondly, job satisfaction has a statistically significant influence on financial performance. Lastly, all worker/employee attitude determinants are statistically significant for both job satisfaction and organizational commitment. HRM, previously relatively overlooked, provided theoretical and practical implications by demonstrating the direct impact on financial performance and the impact of individual human resource management systems and policies.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.625-633
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• 2020

This study aims to empirically investigate the influence of organizational capability and organizational learning on the financial performance of family-business type small- and medium-sized enterprises (SMEs). In addition, this study examines the moderating role of SMEs' ages and the managers' experiences in the relationship between organizational capability and organizational learning on the SMEs financial performance. This study is a basic exploratory research conducted by using an empirical survey, i.e., sampling of the businessman (the owner) of family-business type SMEs cross-functional in the area of DIY. The study uses purposive sampling. The respondents are the SME businessmen from the various business sectors in Yogyakarta, Indonesia. The number of respondents is 150. Hypothesis testing used SPSS program's moderation regression approach; validity and reliability testing used confirmatory factor analysis and Cronbach's alpha. The result of this study shows that organizational capability positively and significantly affects the financial performance. Also, organizational learning significantly affects the financial performance. The organization's age factor does not moderate the relationship between organizational capability and the financial performance, but it is significant on the organizational learning. The factor of manager's experience moderates insignificantly on the relationship between organizational capability and financial performance. However, it is significant to the organizational learning.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.661-670
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• 2020

This paper investigates the influence of the economic integration exemplified by the Eurasian Economic Union on the entrepreneurial ecosystem in the Kazakhstan corporate sector. Using data collected from 204 small-, medium-, and large-sized Kazakh companies, the researchers analyzed the collected data with percentile. Findings of this study show that small- and medium-sized enterprises, especially in the tertiary sector of the Kazakh economy, are not that much affected by regional integration, whereas large firms have been significantly impacted. The originality of the paper is threefold. First, the research explores the entrepreneurial ecosystems in its focus on geographic location or digital technologies that came across mainly from the ICT space. This is becoming pervasive across mechanical systems, communications, infrastructure, and the built-up environment. Second, the originality of the paper lies in focusing on the entrepreneurial ecosystems' influence on the business processes by clearly understanding the regional, national, and international trends in different markets. Third, the paper is first of its kind to contribute an updated perspective on the entrepreneurial ecosystem's influence on economic integration to the policymakers of Kazakhstan. Policymakers will gain expertise on how to manage network effects while planning investment projects, as well as transactions, modes, and fixed nodes, acquisition, and greenfield investments.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.195-204
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• 2020

The aim of this study is to estimate the impact of ownership structure on the performance of listed firms in transition economy. Buiding upon agency theory, hypotheses on such relationship are proposed. A detailed panel data of 502 non-financial companies listed on Ho Chi Minh Stock Exchange and Hanoi Stock Exchange over the period from 2013 to 2018, and the system generalized method of moment estimation are employed to test the proposed hypotheses. To ensure the reliability of data, this study excludes companies that violate information disclosure regulations or that are subject to special supervision by the State Securities Commission of Vietnam. Some firms with inadequate information, firms that lack the financial data required for creating variable or firms that have inconsistent construction are also re-screened. We only collect the data of enterprises that have ownership structure of two or more components. Estimation results reveal that state ownership has an U-shaped relationship with the performance of Vietnamese listed firms, while foreign ownership and the degree of ownership concentration have an inverted U-shaped relationship with listed firms' performance. The article provides governance implications that Vietnamese listed firms should decrease state ownership and foreign ownership to improve firm performance in order to boost investors' confidence.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.205-218
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• 2020

This study aims to analyze the influence of financial inclusion on micro-, small-, and medium-sized enterprises' (MSMEs) performance and examine the mediation role of financial intermediation and access to capital. The object of this study is MSMEs in Malang, Indonesia. The sample consists of 100 MSME actors in Malang City, which is determined using Roscoes theory. The data is collected using Simple Random Sampling method, by distributing questionnaire measured with Likert scales. The hypotheses proposed in this study are examined using Partial Least Square (PLS) model. The results of this study show that financial inclusion influences MSMEs' performance both directly and indirectly through mediation from financial intermediation and access to capital. The direct influence means that the efforts to increase access to financial services, especially access to credit financing for MSMEs, will be able to increase market share, number of workers, sales, as well as profit of the MSMEs. Increased financial inclusion has a major impact on improving MSMEs' performance through financial intermediation compared to access to capital. This means that the increase of financial access for MSMEs followed by an increase in financial intermediation in the form of a financial service approach to MSMEs will improve MSMEs' performance.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.801-808
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• 2020

The purpose of the study is to find the factors that influence the financial leverage of Vietnam firms. The dependent variable is the financial leverage and the independent variables are firm size, asset structure, liquidity, growth opportunities, profitability, and firm age. The data are collected from Vietnam firms' annual financial reports in the period from 2010 to 2019. The study uses a sample of 448 Vietnam listed firms in the period. We also employ a panel regression model with pooled OLS and fixed effect to analyze the firms' financial data. The results of the model showed that financial leverage (FL) has a negative relationship with some factors such as asset structure (AS), liquidity (LQ), growth opportunities (GRW), profitability (ROA), and firm age (AGE) in the fixed effect regression. It means that when liquidity, profitability, and firm age increase, firms' financial leverage will decrease. While firms' financial leverage has still a positive relationship with the firm size (SIZE) in the model. As a result, when firm size increases, financial leverage will increase, too. The results showed that models are fit for the research and can be used to predict future findings. It is also useful for enterprises, financial advisors, investors, as well as the financial managers.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.563-573
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• 2020

This research examined the effect of KHD Leadership toward Sustainable Shareholder Value and mediated by IT & Business Strategy Alignement and Integrated Supply Chain Management. Therefore, with this research, it is expected to be able to develop the KHD Leadership in State-owned enterprises' (SOEs) Indonesian. The population in this study were all echelon 1, 2, and 3 employees in the PT Pupuk Kalimantan Timur, PT Pupuk Petrokimia Gresik, PT Pupuk Sriwidjaja Palembang, PT Pupuk Kujang Cikampek, PT Pupuk Iskandar Muda, as many as N = 1002 people. The appropriate sampling technique used is Proportional Stratified Random Sampling (n=300 employees). The statistical analysis used is SEM-WarpPLS method. IT & Business Strategy Alignement and Integrated Supply Chain Management significant and positive on Sustainable Shareholder Value. IT & Business Strategy Alignment and IT Integrated Suppy Chain Management is a mediating variable between the influence of KHD Leadership on Sustainable Shareholder Value. Novelty in this research is the development of Ki Hadjar Dewantara Leadership as the development of the concept of Javanese leadership that grows inherent in Indonesian society, especially Javanese society and is believed to be applicable in business and industrial organizations in Indonesia, of course it can also be implemented in Pupuk Indonesia Holding Company.