• The Journal of Asian Finance, Economics and Business
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• 제7권7호
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• pp.361-367
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• 2020

Researching the influence and role of CEO overconfidence to dividend policy is important for stock market investors. Therefore, this study was conducted to find out the relationship between CEO overconfidence and dividend policy in industrial enterprises in Vietnam. Data collected from 222 industry enterprises listed on the Vietnam Stock Exchange from 2012 to 2018. Data is collected on financial statements of listed companies. GLS model with panel data is used to analyze regression results. The results show that CEO overconfidence has dividend yield higher than CEO non-overconfidence. At the same time, the dividend payout ratio of enterprises has no difference between CEO overconfidence and CEO non-overconfidence. The results also showed that revenue growth has a positive impact on dividend yield in small enterprises, but negative impact on dividend payout in large enterprises. Research results by firm size have similar results with the general analysis for all enterprises. At the same time, the analysis of ownership type shows that CEO overconfidence has a positive impact on dividend yield of non-state enterprises without affecting other types of enterprises. From these results, the authors also made a number of recommendations to help investors choose businesses to invest in accordance with their strategies.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.1-11
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• 2020

This study aims to investigate whether Corporate Social Responsibility (CSR) performance can help companies gain more bank unsecured loans. Additionally, this study analyzes the moderating effect of firm size and industry characteristics. Data was collected through the case of companies listed on the Shanghai Stock Exchange or the Shenzhen Stock Exchange in China between 2009 and 2018 with 5373 firm-year observations. The results of multivariable regression analysis show that good CSR performance exhibits a strong positive impact on unsecured debt, including short-term, long-term, and total unsecured debt, which indicates that corporate with good CSR performance can borrow more unsecured debt. further research shows that this effect is more pronounced for small enterprises and firms operating in heavy-polluting industries. Additionally, research on the impact mechanism finds that good CSR performance can help mitigate information asymmetry between borrower and lender, reduce moral hazard of borrower, and obtain support from key stakeholders, and therefore reduces the risk of default. The findings of this study suggest that firms with good CSR performance exhibit a preference for unsecured debt, but decline to provide collateral for debt. Overall, we emphasize and illustrate the important role of corporate CSR in bank credit financing.

• The Journal of Asian Finance, Economics and Business
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• 제8권8호
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• pp.1-12
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• 2021

Altman's Z-score is used to measure a company's financial health and to predict the probability that a company will collapse within 2 years. It is proven to be very accurate to forecast bankruptcy in a wide variety of contexts and markets. The goal of this study is to use Altman's Z-score model to forecast insolvency in non-financial publicly traded enterprises. Non-financial firms are a significant industry in Malaysia, and current trends of consolidation and long-term government subsidies make assessing the financial health of such businesses critical not just for the owners, but also for other stakeholders. The sample of this study includes 84 listed companies in the Kuala Lumpur Stock Exchange. Of the 84 companies, 52 are considered high risk, and 32 are considered low-risk companies. Secondary data for the analysis was gathered from chosen companies' financial reports. The findings of this study show that the Altman model may be used to forecast a company's financial collapse. It dispelled any reservations about the model's legitimacy and the utility of applying it to predict the likelihood of bankruptcy in a company. The findings of this study have significant consequences for investors, creditors, and corporate management. Portfolio managers may make better selections by not investing in companies that have proved to be in danger of failing if they understand the variables that contribute to corporate distress.

• The Journal of Asian Finance, Economics and Business
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• 제9권9호
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• pp.93-104
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• 2022

This study aims to investigate the factors that contribute to the sustainable development of 334 Vietnamese construction and real estate companies listed on the Stock Exchange of Vietnam over a 5-year period from 2016 to 2020. By using regression analysis with the support of STATA software through examining the financial statements, which involves looking into crucial ratios including capital structure, profitability, firm size, accounts receivable management, and tangible assets investment, this study sheds light on whether these accounting indicators could help predict the construction and real estate companies growing potential in the future. Nevertheless, these ratios slightly contribute to the explanation of the change in revenue growth ratio, with a result of 1.6%, indicating that the value relevance of accounting information provides a modest and insignificant effect on investment decisions. This is understandable because the Vietnamese construction and real estate market still has many shortcomings in handling unexpected events, as well as the industry's peculiarities related to major capital sources from bank loans. Based on this study, governmental authorities and business executives should plan appropriate risk management policies and measures to contribute to the sustainable development of construction and real estate companies.

• International Journal of Internet, Broadcasting and Communication
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• 제9권4호
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• pp.31-37
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• 2017

Recently Drone technology is emerging as an alternative new way of distribution systems services. Amazon, Google which are global network chain distribution companies are developing an idea of Drone based delivery service and applied for patent for Drone distribution systems in USA. In this paper, we investigate a way to adopt Drone system to Air Cargo logistics, in particular, drone system based on combination of Light ID and RFID technology in the management procedure in stock warehouse. Also we explain the expected impact of Drone systems to customs declaration process. In this paper, we address the investigated limitations of Drone by the Korean Aviation Act as well as suggest the directions of future research for application of Drone to Air logistics industry with investigated limitations.

• Industrial Engineering and Management Systems
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• 제4권2호
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• pp.145-157
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• 2005

There are a lot of raw materials, work-in-processes and finished goods in manufacturing industry. Here, the less stock of materials and work-in-processes manufacturing industry has, the worse the rate of the production is. Inversely, the more manufacturing industry has, the more expensive the cost to support them is. Thus, it is important for us to balance them efficiently. In general, inventory problems are to decide appropriate times to produce goods and to determine appropriate quantities of goods. Therefore, inventory problems require as more useful information as possible. For example, there are demand, lead time, ordering point and so on. In this paper, we deal with an optimal ordering policy on both way substitutable two-commodity inventory control system. That is, there is a problem of how to allocate the produced two kinds of goods in a factory to m areas so as to minimize the total expected inventory cost. The demand of each area is probabilistic, and we adopt the exponential distribution as a probability density function of demand. Moreover, we provide numerical examples of the problem.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.129-137
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• 2021

This paper aims to analyze whether company characteristics are potential determinants of human resource accounting (HRA) disclosure practices by Vietnamese listed companies. It examines the human resource disclosure level of 204 companies by content analysis of these companies' annual reports. The study has relied on a multiple linear regression to test the association between a number of corporate attributes and the extent of human resource disclosure in companies' annual reports. The extent of human resource disclosure was measured using unweighted human resource disclosure index. The explanatory variables considered in this study were firm size, firm age, profitability, leverage, industry profile, and auditor type. The results revealed that the most influential variable for explaining firms' variation in human resource disclosure is firm size followed by firm age and profitability. Thus, it can be concluded that firm size, firm age and profitability are major predictors that may affect the variety of HRA disclosure practices on firms listed in the Vietnam Stock Exchange. However, neither industry profile nor auditor type seems to explain differences in human resource disclosure practices between Vietnamese listed firms, indicating that company's industry profile and auditor type are not a matter for the company to disclose HRA information.

• 한국수정란이식학회지
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• 제15권1호
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• pp.77-83
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• 2000

The purpose of this study was to develop a breeding technique to increase Hanwoo of superior characteristics. In the present study, reproductive status of Hanwoo such as size of farm, breeding system and gestationi length was investigated. In addition, effect of low dose administration of prostaglandin F2$\alpha$(PGF2$\alpha$) on luteolysis was examined. The size of farm was classified by the total number of cows and the number of breeding stocks, respectively. The distribution of herd size of < 5, 6~10, 11~30, 31~50 and > heads was 31%, 15%, 39%, 4% and 11%, respectively. Furthermore, the distribution of breeding stock size of <5, 6~10, 11~30, 31~50 and > 50 heads was 36%, 28%, 31%, 3% and 3%, respectively. Average parity was 2.1 in breeding stock. In breeding pattern, artificial in semination(A.I), estrus synchronization-A.I and natural mating was 92.7%, 2.4% and 4.9% respectively. Gestational length of Hanwoo was ranged 253~316 days (average length : 285 days) after estrus( estrus=0). To induce luteolysis, PGF2$\alpha$ was injected into ovarian parenchyma by a modified ovarian injector. The effect of administration of 6mg PGF2$\alpha$ on luteolysis and estrus induction was betweer (P<0.01) when PGF2$\alpha$ was administered into ovarian parechyma than when administered intramuscluarly (71 vs. 91%). When PGF2$\alpha$ was injected into ovarian parenchyma, a decreased concentration to 3 mg did not significantly decreaed its luteolytic effect(92%). When AI was performed following PGF2$\alpha$ treatment, the intraovarian injection group yielded a higher pregnancy rate(69 vs. 88%) than the IM injection groups, regardless of the dosage. In conclusion these results suggest that increasing herd size and regular reproductive management are needed to improve reproductive efficiency in Hanwoo industry. Furthermore, intraovarian administration of PGF2$\alpha$ is effective way to induce luteolysis compared with intramuscular injection.

• 한국전자거래학회지
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• 제24권3호
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• pp.35-51
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• 2019

본 연구는 크라우드펀딩 성공률에 영향을 미치는 독립요인을 도출하고, 독립요인이 크라우드 펀딩 성공에 미치는 영향을 업종별(인터넷서비스, 문화/예술, 제조/유통), 유형별(주식형, 채권형)로 각각 어떻게 다른지 실증적으로 분석하고자 한다. 크라우드펀딩 활성화 및 전략적 활용을 위한 성공요인을 규명하기 위해 다수의 크라우드펀딩 프로젝트에 투자경험이 있는 전문가 및 플랫폼 운영자의 인터뷰를 진행하였으며 여러 변수들 중 크라우드펀딩 성공률에 영향을 주는 독립요인으로 프로젝트 특성, 참여자의 활동 특성, 기업의 특성, 세 가지 범주가 결정되었다. 독립요인에 해당하는 진행기간, 목표금액, 시각적콘텐츠정보, 최소구좌금액, 댓글수, 온라인구전, 관심도, 재무상태표공개, 투자유치경험, 벤처기업, 지식재산권공개, 사업기간이 조절변수인 업종(인터넷서비스, 문화/예술, 제조/유통)과 유형(주식형, 채권형)에 따라 크라우드 펀딩 성공률에 어떤 영향을 미치는지 그 결과를 도출하였다. 또한, 본 연구의 학문적, 실무적 시사점을 논의하고 향후 연구방향을 제시하였다.

• 한국콘텐츠학회논문지
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• 제11권4호
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• pp.177-185
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• 2011

공예산업이란 과거에서 전승된 기술과 생산방법, 또는 현대에 새롭게 개발된 기술, 기법, 재료 등을 이용해 만들어진 것으로서 장식적, 실용적 특성을 지니며 일반 대중들이 사용하는 생활용구, 장식품, 기호품 등을 총칭하는 것으로 규정하고 있으며, 공예산업은 특정한 지역의 환경, 풍속, 유적 등의 특성을 기반으로 하여 지역의 전통적 또는 예술적 특성을 가진 제품을 생산하는 산업으로, 공예품에 내재하는 문화적 요소를 밖으로 끌어내어 가공, 생산, 유통 및 소비하는 일련의 과정, 즉 공예품의 상품화를 의미한다. 이에 미래지향적인 국가이미지를 위한 한국 고유의 정서와 전통을 바탕으로 하는 공예문화상품은 한국의 국가 이미지를 창출하는 데에 결정적인 역할을 할 것이라고 생각한다. 따라서 본 연구에서는 소비자들의 공예문화상품에 대한 인식과 시장성을 조사하여 국내의 공예산업의 현황과 실태에 대해 알아보고자 한다. 또한 이를 토대로 공예문화산업의 효율성과 문제점은 무엇인지를 연구하고 개선방안을 제시하고자 한다.