• Journal of Korean Society of Rural Planning
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• v.13 no.1 s.34
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• pp.51-62
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• 2007

This study examines empirically the characteristics of agricultural corporations in terms of their market and technology environment and the efficiency of the governmental support to the firms. Also the study analyzes the moderating effect of the environmental characteristics on the relationship between governmental supports and firm performance based on the concept of balanced performance. Test results show that firm tend to evaluate favorably their technology and market competitiveness of product quality and price and to require tools for reaction to changes of customer needs and technology or competing products and external corporation that is necessary for long-term technological competitiveness. As for governmental support, strategic support and service is much more appreciated than direct individual supporting item. Agricultural corporations with unfavorable market environment evaluate relatively high on their balanced performance. Correlations of balanced performance factors and technology environmental factors show all positive statistical significance. The moderating effect of the environmental characteristics on the relationship between governmental support and balanced performance can be interpreted that the support is provided without considering environmental aspect and based only on financial performance and as a result not to be satisfied by agricultural corporations with technological competitiveness.

• Journal of the Korean Society of Clothing and Textiles
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• v.23 no.8
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• pp.1075-1085
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• 1999

Brand equity is the added value endowed by the brand to the product. This concept born in the 1980's has aroused intense interest among market managers and business strategists from a wide variety of industries. Brand equity can be approached in different perspectives according to the motivations and the objectives of the studies. Consumer-based brand equity is examined internally by consumers' cognition and feeling and externally by consume behavior in the market By analyzing the relationship between them we can understand how brand value is made in the mind of consumers and how it is converted into the consumer behavior,. The brand is an especially important extrinsic cue in clothing products and the apparel industry has higher brand equity when it is actually compared with the brand equity of many other industries measured as a financial asset. Therefore the purpose of this study was to find out brand value of clothing products through clothing brand equity and to understand consumer behavior of the brand. And so we focused in consumer-based brand equity. For the empirical study three brands that are predicted to have different level of brand equity were selected based on prices and market shares of the brands. As the result the consumer-based brand equity is composed of emotional and cognitive dimensions and each dimension has several sub-dimensions. These diverse dimensions of brand equity bring about differences in consumers' purchase behavior market share and price premium of brands.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.1-13
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• 2020

This study examines the effect of managerial ownership on firm value in capital markets where outside governance mechanisms to discipline managers are weak or non-existent. We hypothesize that strong market forces in the U.S. confound the effect of managerial ownership on firm value, i.e., the convergence of interest argument. We test the hypothesis using data from 112 firms from Singapore Stock Exchange and 205 firms from the Stock Exchange of Thailand prior to the Asian financial crisis in 1997 when the market forces were weak, yet the investor protection was sufficient to prevent outright appropriation from management. For ease of comparison, we use methodologies from studies done on the U.S. sample firms during the same study period as ours. We find that, both in Singapore and Thailand, firm value is a function of managerial ownership, and the relation is of the famous inverted U-shaped. Moreover, the relation is robust under different model specifications. The results from Thai sample, with weaker market forces than in Singapore, lend support to many agency cost hypotheses advanced in the U.S. Our results provide useful implication for investors in emerging and frontier markets where outside governance mechanisms are yet to be fully developed.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.33-43
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• 2020

This study aims to investigate the importance of earnings quality as a determinant of companies' performance. It provides some empirical evidences from an emerging market, specifically from the Jordanian market. This study developed an econometric model for the effect of earnings quality on the companies' performance using empirical evidence. The study employs a panel data analysis method by using a sample of all Jordanian industrial public shareholding companies listed on Amman Stock Exchange (ASE) during 2010-2018. The results reveal that Return on Assets (ROA), Return on Equity (ROE), and Earnings Per Share (EPS) as proxies of company's performance are affected by the earnings quality. This provides the importance of positive earnings quality that eventually influences the companies' performance. The results of this study suggest that the higher control level on the managers' behavior and its outcome will have an effect on earnings quality, and thus the company's performance increases. As well as, high relevance of accounting information will improve earnings quality, and thus earnings quality with the interaction factors of the company's environment work on improving performance. As a conclusion, this study can work as a reference to assist standard setters, security analysts, regulators and other accounting-information users in appraising relation between the earnings quality and companies' performance.

• Journal of Information Management
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• v.30 no.2
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• pp.20-30
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• 1999

Technology information as an economic good has several properties that would seem to cause difficulties for market transactions. There are several institutions used to over-come problems caused by the peculiar natures of information. The supply of information has exploded, thus bringing about the overload of information. We should be able to choose useful information. Production of technology information has externalities of public goods. Financial support is essential to the national service of technology information. The project should consider the properties of technology information and its market.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.37 no.4
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• pp.168-176
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• 2014

The enterprise life cycle derived from the product life cycle consists of introduction, growth, maturity and decline. The enterprise tries to reach the growth stage early and stay at the maturity stage stably through expanding its businesses and investing for the new technology. The public enterprise is not different but its life cycle is more prone to be affected by the national development and policy. A typical example can be found in the case of the quasi market SOC public enterprise which spends massive amount of fund to provide social infrastructure. After the fulfillment of its mandated mission it is exposed to the pressure of a merger or a closure usually because large portion of the debt is directly linked to the national financial stability and credit ratings. This research is focused on the variables that influence the life cycle of the quasi market SOC public Enterprise for its future competitiveness is in connection with its normalization, advancement and rationalization. In this respect, categorical variables system centering on public characteristics and profitability drew eight categorical variables such as policy outcomes, public benefit, finance and business values etc.

• International Commerce and Information Review
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• v.8 no.1
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• pp.371-398
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• 2006

Gold prices are rising around the world in all major currencies. This is a telltale sign of a Stage Two gold bull where gold decouples from the US dollar. In this study, We analysed a confluence of factors seem to be feeding gold's gains and the typical shape of a secular gold bull---gold bulls' three stages. Stages one, two, and three of a secular gold bull are defined by the major changes. Each stage, considered in turn, makes perfect sense when described in terms of global investor demand. Since Stage One is currency-devaluation driven, the young gold bull is most noticeable in terms of the dominant eroding currency. Now after three or four years of stage one, Stage Two arrives. Stage Two marks a momentous event when gold decouples from the local-currency devaluation. In the case of our gold bull today, Stage Two will be here when gold starts consistently rising faster than the dollar is able to fall. After five or so years of Stage Two gains, gold has a chance at going ballistic in stage three. Stage Three is only ignited if the general public around the world starts growing enamored with gold investing. In summary, the first stage being when insiders and professionals invest in the market. The second stage is when the general public and financial media recognizes that the bull market is real. The third stage is the mania stage when people feel that not only is the bull market real, but it is a must own situation. Through the study we found that gold is entering it now.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.833-843
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• 2021

This research examines the impact of audit quality on the extent to which firm-specific information is integrated with a firm's share price - which is determined inversely using stock price synchronicity. The study sample consists of non-financial companies listed on the Amman Stock Exchange i.e., the Jordanian Stock Market, from 2014-2018. After examining 810 firm-year observations from Jordanian industrial companies listed on the ASE, during the study period, we find that the companies using one of the BIG4 audit firms for auditing have less synchronous and more informative stock prices, suggesting high-quality audit improved governance and reduce information asymmetry between firms' insiders and investors which enhances the capitalization of firm's specific information into the stock price, thus less synchronous and more informative stock return. The findings remain consistent over 2 separate measurements of stock price synchronicity (Market and Industry model and Market Model) and show robustness for fixed effect tests. Our multivariate regression results are also robust after controlling for a number of features at the firm level with potential associations with stock price synchronicity. These include the firm size, leverage, return on assets (ROA), and market to book value (MBV).

• The Journal of Asian Finance, Economics and Business
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• v.9 no.9
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• pp.49-59
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• 2022

Based on assessing the impact of factors on the business efficiency of construction enterprises, the research team proposes policy implications to improve the business performance of listed construction enterprises in Vietnam in the coming time. The study used secondary data collected from the audited financial statements of 25 enterprises listed on Vietnam's stock market in the period 2015-2021 to estimate the factors affecting the business performance of construction enterprises. After collecting, the data will be encrypted and checked. The article uses a quantitative research method by using a linear regression model on Eviews 10 to analyze the data and analyze the impact of factors on the business performance of construction enterprises listed on Vietnam's stock market. The research result shows that firm size and growth rate positively affect business performance while capital structure, receivable management, fixed asset investment, and economic growth have a positive impact on the business performance of construction companies listed on the Vietnamese stock market. Based on this result, the paper also makes recommendations to the Vietnamese construction companies to enhance their business performance.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.9
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• pp.9-24
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• 2022

With a view to attracting foreign investment and growing the economy, the Vietnamese government has hastened financial reforms, including the lifting of limitations on foreign investment, which has resulted in rapidly rising foreign ownership in recent years. To study the relationship between transactions of foreign investors and transactions of domestic investors on two stock exchanges in Vietnam Ho Chi Minh City Stock Exchange (HSX) and Hanoi Stock Exchange (HNX). This study applies a secondary dataset comprising daily market trading information of 912 stocks from 18 industries listed on 2 Vietnam stock exchanges, including HSX and HNX, which includes executed price, executed volume, daily Buy Orders, and Sell Orders categorized into domestic investors' orders and foreign investors orders from 01.04.2010 to 10.04.2018. The regression results show a significantly positive relationship between foreign investors' trading and domestic investors' transaction in all trading activities in both up and down markets. Therefore, these results indicate that domestic investors in Vietnam are concerned with foreign investors' trading as an important sign, and domestic investors tend to follow their counterparties without appropriate fundamental information. From there, there are signs of herding behavior of domestic investors following foreign investors in transactions on the stock market in Vietnam.