• Informatization Policy
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• v.27 no.2
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• pp.20-39
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• 2020

This paper introduces the Cryptocurrency Market Potential Index (CMPI) in order to measure the potential of the blockchain-backed cryptocurrency. Adopting the Distributed Ledger Technology (DLT) system as a conceptual framework, the whole process from development to implementation and adoption of blockchain-backed cryptocurrency are examined. This paper selects 30 variables and employs factor analysis for multivariate analysis to produce the CMPI for a total of 213 countries. The results show that although cryptocurrency is decentralized, its development and usage might still be very centralized in Europe, North America, hotspots in the Asia-Pacific, Middle East, and CIS regions. This result also highlights how important development and implementation are before adoption so that consequent financial transactions can take place.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.73-85
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• 2020

The study aims to provide better understanding of sustainable earnings by a comprehensive analysis of earnings persistence of business firms in Vietnam as an example of developing economies in South-East Asia. Dataset of 1,278 publicly listed firms (excluding banking and financial services firms) on Vietnam Stock Exchange for the period from 2008 to 2017 was collected. By applying fixed effect regression model, the empirical results provided the basis to measure the persistence index (Pers index) and find low level of their earnings persistence. The literature of earnings quality analysis in developed countries suggests earnings persistence as a noteworthy determinant of future earnings forecast and stock valuation. However, research of sustainable earnings in developing countries is still highly underdeveloped. For Vietnamese listed firms, the average Pers index was estimated for the period from 2008 to 2010, indicating low level of earnings persistence. We also incorporated earnings persistence level into future earnings forecast by running the quintile regression model divided the data into four equal levels and conducted each section independently to see the difference in each percentile, thence assessed the factors' influence on the specific model. The findings provide important information on the expected returns of firms, especially helping investors make sound decisions.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.2
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• pp.19-23
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• 2017

It is undisputable that crude oil and its price fluctuations are major components that affect most of the countries' economies. Recent studies have demonstrated that beside the impact that crude oil price fluctuations have on common macroeconomic indicators like gross domestic product (GDP), inflation rates, exchange rates, unemployment rate, etc., it also has a strong influence on stock markets and their performance. This relationship has been examined in a number of settings, but it is yet to be unraveled in the Omani context. Accordingly, the main purpose of this study is to examine the possible effect of the oil price fluctuations on stock price movements. The study applies Toda and Yamamoto's (1995) Granger non-causality test on the daily Oman stock index (Muscat Securities Market Index) and oil prices between the period of 2 January 2003 and 13 March 2016. The results indicated that the oil price fluctuations have a significant impact on stock index movements. However, the stock price movements do not have a significant impact on oil prices. These findings have significant implications not only for the Omani economy but also for the economy of similar countries, particularly in the Gulf Cooperation Council (GCC) countries. The latter should carefully consider their policies and strategies regarding crude oil production and the generated income allocation as it might potentially affect the financial markets performance in these countries.

• Journal of Korean Society of Rural Planning
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• v.23 no.2
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• pp.1-7
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• 2017

The purpose of this study is to develop a farm management diagnostic checklist form, which can be applied to any crops. First, upper indexes and subordinate indexes were identified through survey with expert, and weighted values for each subordinate index were calculated through AHP analysis. Second, as a reuslt of Analytic Hierarchy Process (AHP) analysis, marketing management (0.276) was found to be the most important index of all upper indexes. In the case of subordinate indexes, reflecting management evaluation (0.252) of management consciousness, quality enhancement efforts (0.332) of production management, locating new sales outlets (0.323) of marketing management, agriculture accounting (0.300) of finance management, and adjusting shipping dates (0.274) of risk management were found to be the highest. Third, the interval division using weight of farm receiving prices was higher discrimination in comparison to equal interval division of weighted values for each index. The newly developed farm management diagnostic checklist can be applied to any crops, as it utilizes indexes such as management consciousness, production management, marketing management, financial management, risk management, etc. based on professional opinions. In addition, it allows an objective evaluation of farm management situations by utilizing the weighted value of farm receiving prices.

• The Journal of Society for e-Business Studies
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• v.14 no.4
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• pp.119-131
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• 2009

During a decade, e-Commerce environments supporting real-time transaction processing have been getting larger. In telecommunication and financial environments, research and building for main memory database systems have been doing to support real-time transaction processing. A research on indexing for fast transaction support focuses on reducing cache misses or reducing memory access latency when cache misses happen. In the paper, we propose a prefetch method for tree index structures to reduce memory access latency. We present a prefetch-efficient pCST-tree and show superiority of the proposed tree by experiments.

• Journal of the Korean Operations Research and Management Science Society
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• v.29 no.1
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• pp.31-41
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• 2004

This study analyzes the structure of the variations In the domestic bank earnings and examines their dynamic features by estimating the short-run response and the long-run adjustment Process after the changes in financial market variables. A system of the equations for the bank stock price index and KOSPI is formulated to utilize the whole information in the market and simultaneously estimated to identify the relationships between the market variables and the bank earnings. Since the bank stock price is found to be responsive to changes in none of the market variables in the short run, while being relatively responsive to dollar exchange rate and business state, It implies that a good economic conditions and a stable foreign exchange rate should be maintained to Improve the level of the stock price In the long run. In addition, the dynamic structure of the responses of the bank stock price index and KOSPI to the initial changes in the market variable are compared and anlayzed. The response of the bank stock price appears to take much longer in adjusting to the long-run eouilibrium level than that of KOSPI. As a result, the cumulative response of the bank stock price index over time is found much bigger than that of HOSPI.

• Journal of the Korea Society of Computer and Information
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• v.3 no.4
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• pp.139-144
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• 1998

Introduced into korea to diversify risk coming from the fluctuation of stock price with opening of the domestic capital market to foreigners, Suppress the turbulence of the dentistic securities market caused by the short term funds from foreign countries and vitalize investment in stock, the hedging transaction of stock index futures will promote the introduction of financial futures and commodity futures transaction. and it will contribute to enhancing the introduction all over the country and accelerating the advancement of the korea banking market. In addition, it is expected to make a great contribution to economic stability and smooth comic activity through its function of risk diversification and price decrement with the launch of the stock index futures.

• The Journal of Industrial Distribution & Business
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• v.4 no.2
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• pp.13-19
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• 2013

Purpose - The paper tested the relationship between the stock markets of the Middle East and the USA with the oil price and US dollar index as threshold variables. Research design, data, and methodology - The stock price indices of the USA, the Middle East (Abu Dhabi, Jordan), WTI spot crude oil price, and US dollar index were daily returns in the research period from May 21, 2001 to August 9, 2012. Following Hansen (1999), the panel threshold regression model was used. Results - With the US dollar index as the threshold variable, a negative relationship existed between the stock price indices of Jordan and the USA but no significant result was found between the stock price indices of Abu Dhabi and the USA. Conclusions - The USA is an economic power today:even if it has a closer relationship with the US stock market, the dynamic US economy can learn about subsequent developments and plan in advance. Conversely, if it has an estranged relationship with the US stock market, thinking in a different direction and different investment strategies will achieve good results.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.1-9
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• 2021

UAE has rapidly developed into one of the leading global financial hubs, with significant transformations in its stock exchanges. In its attempt at economic diversification in the last two decades, the country has also taken a lead in the GCC region in introducing extensive reforms to attract FDI to the Emirates. However, oil price volatilities have posed a significant challenge to all oil-exporting countries. The main aim of this study is to explore the impact of economic diversification and oil price on the UAE stock market. The study applies Granger Causality and Vector Autoregressive Model on monthly Abu Dhabi stock exchange index, Dubai Fateh crude oil spot price, and FDI inflows during 2001-19. The short-term interbank rate has been included as a monetary policy variable. The results show a substantial difference between the two phases of reforms. Oil price and Abu Dhabi stock index show bidirectional relationship during 2001-09 but no causality was found during 2010-19. Furthermore, the second phase was characterized by unidirectional causation from FDI to ADX index. This study highlights FDI inflows as a key driver of stock market performance during the last decade and emphasizes the success of the intense reforms in the UAE initiated for the diversification of its economy.

• KIPS Transactions on Software and Data Engineering
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• v.2 no.6
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• pp.369-376
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• 2013

Finance Information System is critical national infrastructure. Therefore it is important to select variables of defect causal factor for the system defect management effectively. We research and analyze detected errors in A Company's Finance Information System for three years. In the result of research and analysis, we have selected 9 variables of defect factor: the trading volume, the fluctuation of KOSDAQ index, and the number of public announcements, etc. Then we have assumed that these variables affect real system errors and analyzed correlation between the hypothesis and the detected system errors. After analyzing, we have extracted the trading volume, the number of orders and fills, changing tasks, and the fluctuations of NASDAQ index as valid variables of defect factor. These variables are proposed for failure prediction model as the variables to manage defects in the finance information system afterward.