• East Asian Journal of Business Economics (EAJBE)
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• v.5 no.1
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• pp.1-9
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• 2017

Nigeria like many other developing countries' eagerness to accelerate socio-economic development has prompted her to adopt several approaches over the years since independence. These have ranged from the import substitution scheme, the indigenisation policy, and structural adjustment programme to the national economic empowerment development strategy. Nigeria has sought to widen her economic base by engaging in increased cross-border trade and investment activities. This is with a view to spurring the process of industrialization and ultimately lowering the level of poverty in the country. This has led to the formulation of various industrial policies and processes, all geared towards integration into the world economy. Using secondary sources, this paper seeks to analyze Nigeria's journey towards industrial development especially within the context of globalization. It concludes by explaining the impact of the new economic paradigm on the country's quest to industrialize and recommends alternative path towards development and growth.

• East Asian Journal of Business Economics (EAJBE)
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• v.1 no.2
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• pp.22-29
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• 2013

Purpose: The present study combines both tax structures and pension funds as the factors of economic importance and explores the impact of both (pension funds and tax rates) on the economic growth in context of OECD nations. Research Design, Data and Methodology: Last forty years data on these variables is taken for study purpose. A Sample size of thirty four nations which form the part of OECD nations was taken for study purpose. Results: Regression analysis (linear) was used to find out relationship between tax structure, Pension funds and economic growth. Conclusion: The results are important for nations increasing their expenditure for social contribution.

• East Asian Journal of Business Economics (EAJBE)
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• v.4 no.4
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• pp.21-23
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• 2016

There are so much oil and gas reserves in Iran. Therefore extraction from these reserves and sell extracted oil and gas in international markets causes to high oil income for Iran. Especially in some years which oil price increases, our oil income was too high. In this paper, we want to reveal that, high oil income is not cause to rise of nonoil export. For this aim, we use from data of 1971-2013 and with Johansen co-integration test and Error Correction Model (ECM) extract short run and long run relations. Results of estimation reveal that in Iran high oil income is not cause to many non oil exports in long run and short run. Therefore, we should allocate oil income to import industrial machines and reallocate them to agriculture and industrial sectors which causes to raise national production which will cause to high non oil export. Then, in this condition, our needy exchanges are provided from non oil export and our dependence to oil income will be declined.

• East Asian Journal of Business Economics (EAJBE)
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• v.4 no.2
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• pp.28-46
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• 2016

The study aims to find out relationship between investor's psychology and financial decision making. A questionnaire containing ten questions for investor's psychology and eleven questions on financial decision making was administered. The questionnaires addressed demographic and cultural variables and resulted in three investor's psychology and three for financial decision making. The results show differences in psychology of investors of different age groups. Similarly difference in financial decision making was observed for different age groups. Also a linear dependency was observed between the psychology and decision making.

• East Asian Journal of Business Economics (EAJBE)
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• v.12 no.3
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• pp.11-23
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• 2024

Purpose: The plant industry is a key order-taking industry that leads national industrial development through convergence and integration with various industries in all value chains from planning and marketing to financing, design and engineering, purchasing, construction, and operation and maintenance (O&M). Research design, data and methodology: The Korea government has been actively promoting overseas plant market development support projects to support large and public enterprises and medium and small enterprises. Results: The Korea government are working with the industry and the government so that the Korean plant industry can establish itself as a key driving force that provides the foundation for low-carbon and energy transition that our times demand and makes our world a better place to live. Conclusion: A high value-added industry that brings enormous profits and international fame to exporting countries. Korea is highly dependent on trade, should recognize the plant industry as a key national export sector.

• East Asian Journal of Business Economics (EAJBE)
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• v.6 no.2
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• pp.49-57
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• 2018

Purpose - to examine the theories related to the internationalization of multinational corporations as well as theories related to internationalization of small and medium-sized enterprises. Research design, data, and methodology - traditional theories, e.g. eclectic paradigm and behavioral theory and product life cycle etc. were examined and recent advances theories - network theory, entrepreneurship - were also examined to outline the theory of internationalization of firm. Results - the main schools of international researches are divided into two; one is the economics school, the other is the behavioral school. The economics school has considered internationalization as a pattern of investment in foreign markets explained by rational economic analysis of internalization, ownership, and location advantages. Apart from the economics approach, a theory relevant to smaller firms highlights slow and incremental overseas market commitment. Recent research on the network perspective is fast emerging and it can be applied and well explained on the internationalization of smaller firms, focusing on firm behavior in the context of a network of interorganizational and inter-personal relationships Conclusions - Small medium-sized enterprises have been recently rising, however, there has still been little consolidation of literature in internationalization and most of the relevant theories have been still focusing on explaining the globalization of multinational corporations. Little studied on the internationalization in the context of smaller firms which are distinctly differentiated from larger firms including international new ventures, which the motivation to study strongly calls for more information and studied on small medium-sized enterprises.

• East Asian Journal of Business Economics (EAJBE)
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• v.10 no.4
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• pp.39-45
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• 2022

Purpose - This short paper reviews the debate dealing with the relationship between strategy and traditional strategy approach on the one hand, and business models and new business model approach on the other hand and tries to offer useful direction to be more helpful to theoretical discussions. Research design, data, and methodology - This paper makes a theoretical analysis to explain the confusion surrounding the debate, reviewing mainly literature survey papers and finds theoretical conjecture and its limitations in order to present useful direction to the future theoretical work. Result - In order to comprise its diversity, business model studies should consider the characteristics of each firm, sector, and market. Adding further elements which are related to each sector or market, theoretical studies can capture the diverse phenomena related to business model and business model innovation. Conclusion - The traditional strategy perspective can be utilized to the Business model phenomenon in the case of incumbent firms and non-digital sector and existing markets. Meanwhile the new business model perspective can be utilized to business model phenomena in case of start-ups and digital sector and emerging markets. Reconciling two perspectives, the studies dealing with the business model should focus on the characteristics of firms, markets, and knowledge from the perspective of business model innovation.

• East Asian Journal of Business Economics (EAJBE)
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• v.11 no.2
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• pp.81-89
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• 2023

Purpose - Several previous studies have been completed on oriental art therapy's impact on problem-solving and innovation in business workers. However, there is a definite research gap in how it reduces stress within the impacts oriental art therapy on business workers. Therefore, this research will be significant in finding out what oriental art therapy has reduced work-related stress and increased satisfaction among business workers. Research design, data, and methodology - For this research, the dependent variable was the significance of oriental art therapy, and the dependent variable was reducing work-related stress and increasing the satisfaction of business workers. The study's hypothesis was oriental art therapy reduces work-related stress and increases the satisfaction of business workers. A quantitative quasi-experimental pilot design was the most appropriate for this study. Result - This research figured out that the art therapy affect significantly reducing work-related stress among business workers, removing the level of anxiety, improving employee's feeling, and so leading to improvement in communication and collaboration each other in the organization. Conclusion - The results of the investigation imply that oriental art therapy can significantly improve the workers' satisfaction in a business. The research shows how successfully some of the interventions introduced in the medical supply company fully transformed the workers' lives.

• East Asian Journal of Business Economics (EAJBE)
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• v.12 no.2
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• pp.19-28
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• 2024

Purpose: In the era of global economic integration, China's doors of openness have widened, leading to increasingly frequent economic and trade exchanges between countries. Exchange rates, as a crucial economic lever for regulating foreign markets, play a vital role in the balanced development of a nation's international trade. Therefore, the relationship between exchange rate fluctuations and foreign trade has garnered widespread attention. Research design, data and methodology: This study utilizes import and export trade data between China and five ASEAN countries from 1998 to 2019. It employs regression analysis to examine the specific impact of the real effective exchange rate of the Renminbi on China's import and export trade with these ASEAN nations. Results: The empirical analysis yields the following conclusions: Firstly, the real effective exchange rate of the Renminbi exhibits a long-term stable relationship with China's import and export trade with the five ASEAN countries. Renminbi appreciation contributes to an increase in export trade volume but is detrimental to import trade. While this conclusion may deviate from classical trade theories, it aligns with the practical realities of China's foreign trade. Secondly, the coefficients before Gross Domestic Product (GDP) all display positive values, indicating that the growth of total economic demand has a stimulating effect on China's import and export trade.

• East Asian Journal of Business Economics (EAJBE)
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• v.12 no.1
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• pp.23-33
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• 2024

Purpose: This paper explores the nuanced approaches undertaken by private companies in formulating and implementing business continuity plans (BCPs) in response to the unprecedented challenges posed by the global COVID-19 pandemic. Research design, data, and methodology: Utilizing a mixed-methods research design, the study delves into the multifaceted strategies employed by private sector entities, ranging from risk assessment and remote work policies to supply chain diversification and employee well-being initiatives. Result: The findings contribute to a deeper understanding of the evolving landscape of business continuity planning during a pandemic, offering valuable insights for academia, industry practitioners, and policymakers. The research findings present a detailed account of how private companies have tailored their business continuity plans in response to the unique challenges posed by the pandemic. Conclusion: This academic exploration sheds light on the dynamic landscape of business continuity planning in private companies responding to the global pandemic. Insights into the effectiveness of remote work policies, supply chain diversification, employee safety measures, and financial strategies contribute to the understanding of best practices and areas requiring further attention. These recommendations aim to inform future business continuity planning efforts, enhance organizational resilience, and mitigate the impact of global health crises on private sector operations.