• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.115-121
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• 2020

This study aims to investigate the effects of restrictions in economic activity on the spread of COVID-19 in the Philippines. This research employs daily time-series data of confirmed new COVID-19 cases, Apple mobility trends (i.e., use of public transport to destinations, volume of people driving, and amount of walking to destinations) and Google community mobility (i.e., visits to transit stations, visits to workplaces, and staying-at-home) indicators covering the period February 17 to September 11, 2020. The analysis starts by establishing the correlation pattern of new confirmed COVID-19 daily infections to each independent variable. The results show negative linear correlation of the number of new COVID-19 daily infections with less visit to transit station, increase stay-at-home, less use of public transport, and less amount of walking to destinations. Interestingly, the number of new COVID-19 daily infections indicates some form of positive linear correlation with visits to workplaces and volume of people driving. Moreover, employing robust least square regression via the method of MM-estimation, major findings reveal that across mobility measures, staying-at-home has the highest impact on reducing the spread of COVID-19, followed by visiting transit stations less, less use of public transport, less amount of walking, and less workplace visits.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.2
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• pp.43-51
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• 2018

We study the impact of economic policy uncertainty (EPU) of Asian four countries such as Korea, Japan, Hong Kong, and China on housing market returns in Korea. Also, we document the relationship between the EPU index of those four countries and the housing market including macroeconomic indicators in Korea. The EPU index of those four countries has significantly a negative effect on the housing purchase price index, housing lease price index in Korea. The EPU index in Korea and Japan has significantly a negative effect on the CPI. The EPU index in only Japan has significantly a negative effect on the PPI. The EPU index in Hong Kong and Korea has significantly a negative effect but the EPU index in China significantly has a positive effect on the stock price index in construction industry. The EPU index in only Korea has significantly a negative effect the stock price index in banking industry. This study shows the EPU index of the Korea has the negative relationships on the housing market economy rather than other countries by VECM. And this study has an important evidence of the spillover of several macroeconomic indicators in Korea for the EPU index of the Asian four countries.

• Journal of Information Technology Applications and Management
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• v.22 no.2
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• pp.201-217
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• 2015

In this paper, we report computational testing result to examine the validity of firm's bankruptcy risk estimation through quantification of supply chain risk. Supply chain risk in this study refers to upstream supply risk and downstream demand risk, To assess the firm's risk affected by supply chain risk, we adopt unit of analysis as industry level. since supply and demand relationships of the firm could be generalized by the industry input-output table and the availability of various valid economic indicators which are chronologically calculated. The research model to estimate firm's risk level is the linear regression model to assess the industry bankruptcy risk estimation of the focal firm's industry with the independent variables which could quantitatively reflect demand and supply risk of the industry. The publicly announced macro economic indicators are selected as the candidate independent variables and validated through empirical testing. To validate our approach, in this paper, we confined our research scope to steel industry sector and its related industry sectors, and implemented the research model. The empirical testing results provide useful insights to further refine the research model as the valid forecasting mechanism to capture firm's future risk estimation more accurately by adopting supply chain industry risk aspect, in conjunction with firm's financial and other managerial factors.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.10
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• pp.229-238
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• 2021

The article applies the ECM - ARDL model to examine the relationship between economic indicators and the existence of the disease in the long run of 10 ASEAN countries from 2000 to 2019. There are two models: The first model investigates the impact of GDP per capita, net inflow FDI, unemployment rate, and inflation rate on the proportion of export to GDP of ASEAN countries, the second model is similar to the first one but adds one more variable to the independent variable list - 'the variable for disease'. The results prove the long-run effect of GDP per capita, FDI, unemployment and inflation rate on export of the selected countries, though individual country shows differences in the sign and magnitude of these impacts. Surprisingly, the number of people suffering from disease does not affect the export of all selected countries as expected. The results of the two models also indicate that the disequilibrium in the short run converges to the equilibrium in the long run with a high proportion, especially in the case of Cambodia and the Philippines, with the rate of 95.65% and 151.94%, respectively. The findings can be useful for policymakers in promulgating efficient policies to enhance the trading activities of the selected countries.

• Journal of Climate Change Research
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• v.9 no.4
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• pp.435-443
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• 2018

Climate technology applied to address climate change requires a comprehensive review such as environmental and social acceptability in addition to economic feasibility. Not only mitigation and adaptation technologies, but also integration of climate technologies into a business model with other relevant technologies including ICT, finance, and policy instruments could enhance technical, economic, and environmental performances to respond to climate changes. However, many climate projects (and business models) are currently not designed to consider adequately complex climate?related issues. In addition, there is a lack of research on assessment systems that can comprehensively evaluate business feasibility of such models. In this study, we developed a system consisting of nine major indicators in four fields to assess climate technology-based business models. Each indicator was weighed using the analytic hierarchy process (AHP) for systematic assessment of business models. The process can be utilized as a tool to guide improvement of climate technology business models.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.77-88
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• 2021

The stock markets in the BRICS (Brazil, Russia, India, China and South Africa) countries are the leading emerging markets globally. Therefore, it is pertinent to ascertain the critical drivers of stock market development in these economies. The currrent study empirically investigates to identify the linkages between stock market development, key macro-economic factors and institutional factors in the BRICS economies. The study covers the time period from 2000 to 2017. The dependent variable is the country's stock market development and the independent variables consist of six macroeconomic variables and five institutional variables. The study employs a panel cointegration test, Fully Modified OLS (FMOLS), a Pooled Mean Group (PMG) approach and a heterogeneous panel non-causality test.The findings of the study indicate co-integration among the selected variables across the BRICS stock markets. Long-run estimations reveal that five macroeconomic variables and four variables related to institutional quality are positive and statistically significant. Further, short-run causalities between stock market capitalization and selected variables are detected through the test of non-causality in a heterogeneous panel setting. The findings suggest that policymakers in the BRICS countries should enhance robust macroeconomic conditions to support their financial markets and should strengthen the institutional quality drivers to stimulate the pace of stock market development in their countries.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.563-572
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• 2021

This study aims to investigate the implementation of village fund (VF) policy in Indonesia by addressing the following issues: (1) what is the VF policy; (2) factors that support and hinder policy implementation; (3) impact of policy implementation; and (4) model for implementing village fund policies that can improve community welfare. Through a descriptive qualitative-based approach, several indicators are measured, namely, the substance of implementing rules, the results of project implementation, supporting and inhibiting factors for policies, participation factors, and the impact generated by village fund policies, which include social and economic effects. The extraction of this information and indicators will lead this study to produce ideal models and propositions for quantitative confirmatory research as a future research agenda. This study was conducted in two villages (Mojomulyo and Tambakromo) in Pati District, Central Java, Indonesia. Data collection model using interviews and observations from all actors who play a role (e.g., village government, village supervisory agency, and community). The study results show that policies have been implemented by normative rules; there are several supporting and inhibiting factors both internal and external. The study results also confirm the relevance of the articulated theory and some comprehensive input to our study.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.24 no.6
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• pp.97-107
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• 2021

Abnormal climate caused by climate change causes enormous social and economic damage. And such damage and its impact may vary depending on the location and regional characteristics of the region and the social and economic conditions of local residents. Therefore, it is necessary to continuously monitor whether there are indicators that are weaker than other regions among the detailed indicators that constitute the risk, exposure and vulnerability of climate change risk. In this study, the concept of climate change risk was used for heatwave to determine regional inequality of climate change risk. In other words, it was judged that inequality in climate change risk occurred in regions with high risk but high exposure and low vulnerability compared to other regions. As a result of the analysis, it was found that 13 local governments in Korea experienced regional inequality in climate change risk. In order to resolve regional inequality in climate change risks, the current status of regional inequality in climate change should be checked based on the analysis proposed in this study, there is a need for an evaluation and monitoring system that can provide appropriate feedback on areas where inequality has occurred. This continuous evaluation and monitoring-based feedback system is expected to be of great help in resolving regional inequality in climate change risks.

• New & Renewable Energy
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• v.17 no.2
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• pp.9-23
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• 2021

In Korea, various community investment renewable project models are being implemented to increase community acceptance of renewable energy. An important factor for enhancing local acceptance is that renewable energy projects have a positive effect on revitalizing the local economy such as income increase or job creation for residents and local companies. To maximize the local economic effect of large-scale community investment renewable energy projects, this study developed an evaluation index for local economy activation, whose indicators are the local return on investment, local companies' participation, local job creation, regional cooperation, transparency, and governance. Analysis of existing evaluation indicators and current renewable projects, financial analysis, and expert interviews were used in this research. The pilot evaluation determined that, the local economic effect was high in the following order: a fund investment wind project (Gangwon), benefit-sharing wind project (Jeju), and general wind project. In particular, residents' investment amount, the number of participating residents, and the amount and transparency of the regional cooperation fund were key factors to expand the effect of local economy activation. This evaluation index could be used in public bidding for renewable energy projects such as offshore wind zoning areas of local government.

• Journal of Korea Port Economic Association
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• v.37 no.4
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• pp.145-160
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• 2021

This study attempted to analyze the trade in goods effect of the Korea-ASEAN FTA by using logistics performance index, which are evaluation indicators of logistics industry workers on the logistics environment and logistics system in international trade. The World Bank's logistics performance index are six indicators: customs clearance, logistics infra, ease of shipment, logistics services, goods tracking abilities, and on-time transportation. The purpose of this study was to examine how it affects commodity trade between Korea and ASEAN states using the gravity model using panel data. Through this, it was confirmed that logistics performance index affect the increase in commodity trade.