• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.1171-1180
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• 2021

This study aims to investigate the impact of the multimarket contract on risk-adjusted profitability. Risk-adjusted profitability is measured in terms of risk-adjusted return on assets. This study employs dynamic panel data of 27 commercial banks in Vietnam using the GMM estimator to test the multimarket contact hypothesis in the Vietnamese banking sector. The results show that there is a negative impact of multimarket contact on the profitability of banks. Multimarket contact, deposit to asset ratio, non-interest income to total income, GDP growth rate, Worldwide Governance Indicator (WGI), and operating cost to assets are the major determinants of risk-adjusted profitability of commercial banks. Our main findings show that Vietnamese banks' focus to increase the multimarket contact may lead to lower profitability and there is evidence that supports theory predictions, since the average number of contacts among banks, bank size, and capitalization are positively related to risk-adjusted profitability. The study has policy implications for commercial banks in that they should not only focus on interest as a source of income and diversify their income source from non-interest income as well since it helps to improve risk-adjusted profitability for them.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.419-429
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• 2022

The aim of this research is to examine how globalization affects coffee exports in the producing countries. This research used secondary data obtained from the International Coffee Organization, Pen World Table, World Bank, Food and Agricultural Organization, and KoF Globalization Index to achieve its goals. We used secondary data from 1990 to 2018 from various foreign databases. The research used a two-step system GMM (sys-GMM) to analyze the effect of globalization on coffee export in twenty-four producing countries. We found that export lag, gross domestic product (GDP), exchange rate, and the political globalization index (PGI) positively and significantly impact coffee exports. Meanwhile, coffee exports were unaffected by the level of export prices and the human capital index. Surprisingly, the trade globalization index has a negative impact on coffee exports. This demonstrates the unpreparedness of coffee-producing countries to face tough competition in trade globalization. The political globalization index, the final variable, has a positive impact on exports. With the opening up of world politics, it seems that the environment of democracy in producing countries is increasing. As a result, governments in these countries have adopted a policy of aggressively supporting coffee exports.

• The Journal of Economics, Marketing and Management
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• v.11 no.4
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• pp.53-63
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• 2023

Purpose: The purpose of this study is to examine the research trends in the papers published by Korean researchers related to traditional markets, to check what topics have been studied, and to make various suggestions for research directions and effective ways to revitalize traditional markets. Research design, data and methodology: To this end, this study conducted word frequency analysis, co-occurrence frequency analysis, BERTopic, LDA, dynamic topic modeling and OLS regression analysis using Python 3.7 on the English abstracts of a total of 502 papers extracted through ScienceON. Results: As a result of word frequency analysis and co-occurrence frequency analysis, it was found that studies related to traditional markets have been conducted not only on factors related to customers, but also on traditional market merchants and government policies, and the degree of service, quality, and satisfaction perceived by customers using traditional markets. Through BERTopic and LDA, three topics such as 'Traditional market safety management' were identified, and among them, it was found that 'Traditional market safety management' is relatively less attention by researchers. Conclusions: The results of this study suggest that future research on the revitalization of traditional markets should be conducted from a specific consulting perspective along with the establishment of various data, a causal model study from various perspectives such as the characteristics of merchants as well as consumers, and an integrated and convergent approach to policy formulation by the government and local governments.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.1
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• pp.177-187
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• 2022

Theoretical literature agrees on the interaction between financial instability and economic activity but explains it's dynamic in two points of view: one is that the transmission mechanism occurs in one unique regime and the other reckons a shift of regime leads to the alteration of the transmission mechanism. This study aims to find evidence of the multi-regime transmission for ASEAN developing countries. The author employs the technique of Threshold vector auto regression using the financial stress index standing for financial instability. Monthly data is collected, covering a period long enough with many episodes of high stress in recent decades. There are two conclusions: (1) A financial shock has a negative and stronger impact on economic activity during a high-stress period than it does during a low-stress period; (2) the response of economic activity to a negative financial shock during high-stress periods is stronger than it is during normal times. The findings point to the importance of the financial stress index as an additional early warning indicator for the real economy sector, as well as the positive effect that a reduction in financial stress may have on economic activity, implying the importance of "unconventional" monetary policy in times of high financial stress.

• Journal of Digital Convergence
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• v.12 no.9
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• pp.237-244
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• 2014

Pathogenic fungal infections are predominantly occurred in patients with severe immune or metabolic defects. In the present study, we aimed to investigate the last five years (2007~2011) 190,250 cases clinical specimens of yeast 3,487 results that had shown positive culture and to look at the significance of regional difference and identify relationship between provide the characteristics about association between clinical isolates and gender, age, and type of specimens. The yearly strain-specific isolation frequency of yeast separated was 1,925(55.2%) for C. albicans the largest of them. All kinds of clinical specimen was 1,495(42.9%) in urine, 998(28.6%) in sputum. Strain-specific gender differences in C. albicans for males was 1,177(57.8%) of the total of 2,037 and 748(51.6%) of 1,450 and as for age, those between 70 and 79 were the largest with 639(55.1%) of the 1,925 strain. In this study, well presented the general characteristics of pathogenic yeast seen in diverse specimens. This limitation has been implemented in a single area, Future research is expected to examine more on nationwide distribution chart, dynamic characteristics and future antibiotic sensitivity.

• KDI Journal of Economic Policy
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• v.12 no.4
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• pp.97-111
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• 1990

This paper examines the effect of redistributive inheritance tax on income distribution and social welfare. The model used here is the Overlapping-Generations Model consisting of individuals with different bequest motives where the lifetime income distribution in each cohort is determined endogeneously by the dynamic bequest process. It is shown that the introduction of redistributive inheritance tax can improve the vertical equity in the sense that the increase in tax rate reduces the coefficient of variations of intra-cohort income distribution in steady-state. However, it is also shown that, the effect on social welfare, when measured by Benthamite SWF, is uncertain in general. The numerical simulations show that, in spite of its equity-enhancing effect, the tax increase can actually lower the steady-state social welfare within the plausible range of parametric values, through the long-run output effect as well as the deadweight welfare loss incurred by tax distortion. Hence, the problem of equity-efficiency trade-off can arise in this case. However, if both the market interest rate and the elasticity of marginal utility in individual's preference function are sufficiently high, it is shown to be possible that the steady-state social welfare is enhanced by the introduction of inheritance tax.

• Korean Journal of Construction Engineering and Management
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• v.12 no.5
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• pp.35-45
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• 2011

Establishing housing supply strategies in Korean housing market is a crucial issue due to contradictory but concurrent two problems in market; one is the unstable working-class residential and the other is the high vacancy rate by the low-level of sales rate. Although government has been continuously implementing various supply policies in an attempt to evenly distribute houses as well as to keep supply and demand in balance, it is difficult to satisfy all of stakeholders, such as housing consumers, housing owners and housing suppliers. This paper, therefore, applies a system dynamics methodology and offers a dynamic and integrated model encompassing for-profit behaviors of each market participants. The proposed model simulates the future trends of house prices, the balances between supply and demand, construction companies earnings and vacancy rate when applying various housing supply scenarios. From the simulation result, recent governmental small-size rental housing supplies in bulks should utilize private construction companies to stabilize housing distribution rate and private supply system as well as the supply and demand are well balanced.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.34 no.6
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• pp.1797-1806
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• 2014

By far, groundwater management has been conducted by 'safe yield' policy based on the estimation of annual average of groundwater recharge throughout the world. However, as groundwater recharge show spatiotemporal variation, dynamic analysis must be carried out to evaluate the sustainable groundwater resources. In this study, an integrated surface-groundwater model, SWAT-MODFLOW was used to compute the spatial distribution of groundwater recharge in Gyungju region. Frequency analysis is adopted to evaluate the existing values of potential amount of groundwater development which is made by the 10 year drought frequency rainfall multiplied by recharge coefficient. The conservative methods for estimating recharge rates of 10 year drought frequency in subbains are newly suggested and compared with the existing values of potential amount of groundwater development. This process will promote the limitations for existing precesses used for computing potential amount of groundwater development.

• Journal of Digital Convergence
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• v.17 no.10
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• pp.169-176
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• 2019

Recently, the Korean economy is congested with Japan's economic retaliation, the US-China trade war, the Bank of Korea's 0.25% base rate cut and Korea's economic growth forecast revision. The purpose of this study is to analyze the KOSPI, CPI, Treasury bonds(3 years) Interest rate & sales performance of all industries, and examine the impact of each index on the KOSPI. The analysis period is from January 2003 to June 2019, and the effect of each index on the KOSPI is analyzed. In numerical analysis, we performed correlation coefficients and regression analysis. In the model analysis, the distribution, quadrant, scatter, box-plot and impulse response were examined. This study examined the volatility and dynamic characteristics of each index. As a result, the KOSPI showed a high correlation with sales and Treasury bonds, but showed a very low correlation with the CPI. The KOSPI will continue to be affected by sales and interest rates.

• 한국사회정책
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• v.25 no.1
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• pp.231-257
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• 2018

Japan has generally been considered as the developmentalist welfare state. However, Japan has recently been transformed into a social investment state. Although it still has a developmentalist characteristics with its institutional path dependence, the new social and economic challenges derived from the new social risks such as low birth rates and aging population forced Japan to adopt a new welfare state strategy. The paradigm shift in terms of welfare state strategy was launched by the Third Way positioning of the Democratic party government and succeed to the Second Stage of Abenomics under the Third Abe Cabinet. This paper argues that the welfare state paradigm shift towards a social investment state in Japan is not limited to the Japan's Plan for Dynamic Engagement of All Citizens for a virtuous cycle of growth and distribution, but expands its scope to include the work-family balance policies such as labor market activation for women and public caring for children.