• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.53-66
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• 2021

The global financial crisis in 2008 eroded trust towards the banking industry overall. To make such institutions more transparent, the International Accounting Standard Board developed the International Financial Reporting Standard 9 (IFRS 9). After the announcement of IFRS 9, academic research has primarily focused on examining the stability of banks due to early loan-loss recognition guidelines under the new system. There appears to be a lack of understanding of how IFRS 9 has influenced institutional depositors' opinions of bank trustworthiness. Hence the goal of this study is to determine how the adoption of IFRS 9 by banks has impacted perceptions of transparency, trust, and skepticism, from the perspective of large institutional depositors. This research was conducted in the context of Malaysian banks that follow the IFRS 9 guidelines. A framework is proposed using the signaling theory, leading to the development of a set of hypotheses. The hypotheses are tested with data collected from 654 financial analysts working in Malaysian companies that are large institutional depositors. The results indicate that the adoption of IFRS 9 has led to higher levels of perceptions of bank transparency and trust, and lower levels of skepticism towards such banks.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.177-183
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• 2022

The COVID-19 pandemic has hurt the economy and negatively impacted all enterprises' financial performance. The COVID-19 pandemic has put a strain on global manufacturing capacity and supply chains, and it is also the pandemic that has given up new opportunities for the logistics industry to develop as e-commerce has developed. By analyzing the financial performance of logistic firms listed on the Vietnam Stock Exchange, this study tries to quantify those consequences. A total of 114 logistic companies were included in the study's sample. The Wilcoxon Signed Rank Test was performed to test the difference between some ratios in 2019 and 2020. This study found that the financial performance of 114 logistic firms listed on the Vietnam stock exchange has not improved. The data show that during the COVID-19 pandemic, the leverage ratio increased while the profitability and efficiency ratios decreased. The liquidity ratio did not show any significant differences. On the contrary, these businesses' performance, such as returns on assets, receivable turnover, and leverage, has decreased. The COVID-19 had a global impact on supply chains, therefore export activity and international transportation were badly hampered, with only a few domestic logistic enterprises growing.

• The Journal of Asian Finance, Economics and Business
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• v.10 no.1
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• pp.49-55
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• 2023

Business is an important entity in every economy with its role in job creation, budget contribution, and national output. It can be said that enterprises are also one of the leading units that play a key role in implementing digital transformation, grasping science and technology, and improving labor productivity. Developing a team of enterprises that are both strong in quantity and strong in quality is an urgent requirement in many countries, including Vietnam. Vietnam is a developing country and home to many textile and garment enterprises operating due to the advantages of cheap labor and a large market, the textile and garment industry is capable of creating many jobs for the economy. Studying the factors affecting corporate financial performance across 250 textile and garment enterprises in Hanoi capital and Bac Ninh province, the research results show that when enterprises have the ability to mobilize capital, the cost is cheap, appropriate, and optimal, most businesses often achieve higher business efficiency and financial performance. In contrast, enterprises that are difficult to raise capital in the economy often achieve low financial efficiency and financial performance. The study also confirms the role of human capital in enterprises, enterprises with high human capital often achieve high profits.

• The Journal of the Korea Contents Association
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• v.8 no.7
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• pp.224-232
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• 2008

Sport industry creates value-added by production and distribution of product or service related with sports or sports. Professional sports will lead to major area of sport service industry in the future. The purpose of study is to analyze financial condition and management performance by using financial statement(2005-2007) of korean professional soccer citizen teams. The analysis of financial condition and management performance is executed by financial ratio analysis method. The content of this study involve comparison with standardization ratio and financial ratios among professional soccer citizen teams. The results of this study are as follows. First, liquidity ratio measured by current ratio and quick ratio was high with compared to standardization ratio. Second, leverage ratio measured by debt ratio was very high. Third, activity ratio was good condition. Finally, profitability ratio was very low having minus ratio generally.

• Journal of Korean Society for Quality Management
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• v.44 no.2
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• pp.341-356
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• 2016

Purpose: The purpose of this paper is to study whether the adoption of Six Sigma quality management by a firm positively affects its financial performance. The correlation between the duration of Six Sigma implementation period and the financial status of the firm is investigated as well. Methods: We conduct the analysis using data from Manufacturing Industry Productivity Panel Survey 2013 provided by Korea Productivity Center and Ministry of Trade, Industry and Energy. Propensity score matching is used to reduce sample selection bias of observational study. Furthermore, we use multiple linear regression in order to study the relationship between the implementation of Six Sigma quality management and financial performance. The return on assets and ratio of net income to net sales are considered as dependent variable and implementation of Six Sigma as independent variable. Results: The indication of this analysis is that implementation of Six Sigma quality management does not significantly enhance financial status. The firms that adopted Six Sigma quality management were categorized into three groups according to the implementation period. Comparison of each group with the firms that do not adopt Six Sigma quality management does not show statistically significant enhancement of financial status. Conclusion: In conclusion, both adoption and duration of six sigma quality management do not affect financial performance significantly.

• Journal of Industrial Convergence
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• v.22 no.6
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• pp.25-39
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• 2024

Because small and medium-sized businesses lack capabilities and resources, they must effectively procure, share, and utilize scarce resources from outside, and as a result, the importance of networks with external organizations is gradually increasing. In this study, we verified the influence of small and medium-sized enterprises' network capabilities and network characteristics on market performance and financial performance. As a result of testing the hypothesis through a structural equation model, network capabilities were found to have a significant partial impact on financial performance, and all sub-factors of network characteristics such as strength, size, and diversity were found to affect financial performance. Additionally, network capabilities and network characteristics were found to have a significant partial effect on market performance. Market performance was found to have a partial mediating effect in the relationship between network capabilities and financial performance, and a partial mediating effect in the relationship between network characteristics and financial performance. Unlike previous studies, this study simultaneously analyzed the impact of two factors, network capabilities and network characteristics, on corporate performance and presented a new research perspective by analyzing the mediating effect of market performance, which is recognized as a leading factor in financial performance.

• Journal of Information Processing Systems
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• v.16 no.4
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• pp.935-958
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• 2020

The core value of finance is credit. It can be said that without credit, there can be no finance. The distributed structure of the blockchain and the low-cost trust-building mechanism based on mathematical algorithms provide a new solution and path for solving and optimizing related problems in the financial field. The blockchain technology is applied in the development of the financial industry through consensus mechanisms, smart contracts, and distributed networks. In this research, a comprehensive survey of the blockchain technology is proposed in the development of financial services including equity crowdfunding and credit investigations in inclusive finance, cross-border remittance, Internet financial payment, P2P lending, supply chains finance, and the application of blockchain in the field of anti-money laundering. This paper discusses the role of blockchain in solutions to different issues in the financial field. It also discusses the architectures in different financial service application scenarios from the perspective of the financial trust mechanism and the perspective of the technology and rule change of blockchain participation in financial innovation. Finally, the problems and challenges of blockchain in financial services are discussed, and corresponding solutions are proposed.

• Journal of Distribution Science
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• v.14 no.4
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• pp.13-20
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• 2016

Purpose - This paper attempts to determine the importance of financial sustainability and the impact of Selling, General and Administrative Expenses (SG&A) on the financial sustainability of the IT industry. Research design, data, and methodology - Primarily the impact of SG&A expenditure on the sales revenue, assets, gross margins and profit is ascertained. After that the impact of SG&A expenditure, sales revenue, assets, gross margins and profit on the financial sustainability i.e., return on assets is worked out. Finally the impacts of financial sustainability i.e., return on assets on total enterprise value and market valuation multiples are found out. Results - The empirical result shows that SG&A expenditure most strongly impacted sales revenue, assets, gross margins and profit positively. Financial sustainability impacted in mixed manner with SG&A expenditure, sales revenue, assets, gross margins and profit. Assets and gross margins have weak positive impact on financial sustainability. Sales revenue has no impact on financial sustainability. Finally financial sustainability had moderate positive impact on total enterprise value and had no impact on market valuation multiples. Conclusions - SG&A expense has moderate positive impact on the financial sustainability and magnitude is very low.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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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.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.17 no.2
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• pp.52-61
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• 2009

In Korea, there is great lack in jet lease agreements compared to many other countries. Due to such scarcity in numbers of jet lease agreements, problems have never truly surfaced and legal foundation dealing with such issues have not yet been formulated. However, as the globalization is making the world smaller and smaller, the demand for jets will grow. As the Korean aviation industry is expanding tremendously, although very preliminary at this time, the interest and actual execution on private jet lease agreements will grow. The prediction of increase in the private jet ownership is causing the lease industry to be nervous and may require particular preparatory foundation works. Particularly, legal analysis and detailed review maybe necessary to set a precedent with will serve as the grounded rule in the future. It is notable that Vietnam, a country which is believed have a less developed aviation industry than Korea, had already established a specialized jet leasing company, VALC in 2007. Also, when leasing an airplane from a foreign financial institution, it is possible to obtain a government issued guarantee. Therefore, it is urgent for Korea to prepare the legal foundation for the future demands in aviation leasing, as well as private jet leases which in turn would promote national wealth and further develop the financial industry.