• The Journal of Asian Finance, Economics and Business
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• v.10 no.1
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• pp.189-199
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• 2023

This research aims to give information about the current situation of five financial sources for climate change in Vietnam, including (i) the State budget used by ministries; (ii) the State budget used by provinces; (iii) Bilateral funds; (iv) Multilateral funds; and (v) Private funds, and then classify them in line with the effectiveness. The working paper's secondary data on spending on CC-related activities, collected from reports of six ministries and 29 provinces, show that the State budget has been crucial in subsidizing CC-related activities in Vietnam. Moreover, domestic investment has accounted for a major part of the total expenditure of ministries and provinces for climate change. In addition, by using primary data collected from surveys sent to twelve experts from 5 groups, such as researchers, practical experts, managers of private funding organizations (such as banks and enterprises), managers of international funding organizations and beneficiaries, and then analyzing the data through the AHP method, the study shows that all climate finance sources in Vietnam are still not very effective. However, private sector funds are considered the most effective financial source for responding to climate change.

• Korea Trade Review
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• v.44 no.3
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• pp.191-202
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• 2019

Despite innovative efforts to accommodate changes in the payment environment, the new types of settlement risks that are emerging require preemptive and proactive responses. Therefore, Korea should complement and develop large-value funds payment system operation and risk management policies by introducing international standards and linking with advanced financial institutions. This study examines the major issues such as the development process and characteristics of the large-value funds payment system of the two countries, the operation policy of the central bank, and the risk management policy by comparing the US Fedwire with the Korea Bok-Wire+. In addition, policy implications are suggested for efficient operation and development of Bok-Wire+.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.6
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• pp.175-181
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• 2022

Malmendier and Tate (2005) and Aktas et al. (2019) suggested that overconfident managers will invest if they have sufficient internal funds. Still, they will save internal funds instead of reducing investment if they have insufficient internal funds because they perceive more substantial financial constraints than other managers. This study examines whether overconfident managers will not invest when the financial crisis makes it difficult to raise external funds. In particular, during the financial crisis in Japan, banks simultaneously provided active monitoring and financing to firms with strong relationships with banks. Therefore, this study can also examine the relationship between overconfident managers and bank behavior by focusing on Japanese firms. This study examines whether overconfident managers increase their investment in firms with strong relationships with banks during the financial crisis. The results of this study showed that overconfident managers, especially their firms with strong relationships with banks, reduce investments more than other managers during the financial crisis. This study suggests that Japanese banks reduced financial constraints and exerted strong corporate governance on Japanese firms during the financial crisis.

• Journal of Technology Innovation
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• v.23 no.4
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• pp.63-87
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• 2015

As the important factors to improve research performance, the researchers' capacity and the input of resources like research funds have been pointed out. As joint researches are recently vitalized, however, the scientific knowledge is produced by forming continuous mutual relations through the structural characteristics between researchers. Since the support of research funds becomes a foothold to perform researches as multiple institutions cooperate with each other, it can be considered to have influence on research performance. In other words, it can be estimated that the support of research funds has influence on research performance by generating differences in the connecting structure of joint researches. In the results of analyzing the relation between network structure and research performance in accordance with the matter of supporting research funds, targeting the joint research theses in the culture technology(CT) area for five years from 2009 to 2013 in SCIE DB, when multiple research institutes are connected to each other, the number of thesis is increased. When the betweenness centrality is increased, the number of thesis is decreased. Also, the matter of supporting research funds has influence on network structure and research performance.

• KDI Journal of Economic Policy
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• v.35 no.2
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• pp.133-166
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• 2013

This study analyzes the relationships between soft dollar(brokerage commission) and characteristics of funds, and between brokerage commission and return on funds, using the data on equity funds of Korea from June 2008 to November 2011. The result confirms a statistically significant negative relationship between management & sales fees and brokerage commission, meaning that rather than raising management & sales fees, which could be easily recognized by investors, it is through brokerage commission, a hidden cost, which asset management firms indirectly compensate for their services. Meanwhile, the analysis on the relationship between brokerage commission and return on funds reveals that higher brokerage commissions lead to lower return on funds, meaning at least in short-term no contribution to increasing returns in the future. These results suggest the need for streamlining the system to alleviate conflicts of interest between investors and management firms in addition to effectively controlling for principal-agent problems.

• Proceedings of the KOR-KST Conference
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• 1998.09a
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• pp.185-191
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• 1998

Metro, as a kind of city rail transit, is a modem city passenger transit system with mass transportation and independent special rails. It has become a backbone of the traffic in the metropolis and an important modern symbol of a city. A modem traffic system is indispensable for Shanghai to be an international metropolis of finance, trade and economy. At present, Shanghai metro line No. 1 and its extension have been put into operation, metro line NO. 2 will be put into trial operation by the end of 1999, the Pearl Line, an elevated rail transit system is under construction and other lines will be constructed later according to the plan. But the funding of the city rail transit construction (both metro and light rail) is a big difficult problem to the infrastructure construction of the metropolises either at home or abroad, which is also a problem to restrict the development of the city rail transit of Shanghai. We have learned from the internal and external experiences of the rail transit construction that it is an important means to deal with the funds of the city rail transit construction to actively utilize foreign funds. It makes up the shortage of the internal funds on the one hand, the external advanced science and technology and the management experiences can be introduced on the other hand. In order to discuss and study conveniently with you together the new problems appearing in the metro construction and to open up a new train of thought, this article will give out a certain analysis and description to the funding method in the metro construction of Shanghai and the characteristics of utilizing foreign funds in the rail transit construction as well as the problems which we are faced with.

• 사회경제평론
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• v.31 no.3
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• pp.203-237
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• 2018

This paper critically studies Meidner's wage-earner funds project. On the basis of this, this paper intends to create new prospects for a universal welfare regime. From the perspective of the welfare system, the funds project is a correction or supplement of the Swedish welfare system of the Swedish model centered on 'redistribution'. However, the funds project shares the ideology of Swedish model and its fundamental premise, I.e. guild socialism and labor-centrism. This paper discusses the limitations of the funds project resulting from this, especially with regard to its three purposes: equalization of property distribution, economic democracy and the correction of excess profit. It then highlights that the alternative to overcome the limitations of the funds project and the Swedish universal welfare system should be based on a new ideology and fundamental premise that is cut off from guild socialism and labor centrism. As an alternative fulfilling this, this paper focuses on theories that suggest that the Common Wealth Fund should be created and basic income should be implemented in the form of dividends as its dividend. As a result, Commons Capital Stock and the basic income as its dividend are presented as alternative prospects for the funds project.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.2
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• pp.75-87
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• 2016

This study examines the impact of government funds to venture capital on investment in early-stage firms. We provide novel explanations about this relationship focusing on mechanisms by which government funds influence the perceived uncertainty, decision about investment priority, scale economy of investment, information asymmetry in investment decision, and capital expense. We argue that venture capital's investment in early-stage firms increases as government funds increase and as government funds are explicitly directed for early-stage firms. However, we further claim that the impact of government funds on early-stage investment will be decreasing as their size increases and finally be reverted to negative impact beyond a certain amount of funds to show inverse-U relationship. Our empirical examination using data from 105 Korean venture firms active as of 2013 consistently supports the claims. This study contributes to the venture capital literature by providing novel arguments about mechanisms and effects of policy intervention in venture capital. In practice, we expect our results will provide an opportunity for relevant policy makers to review their venture support policy based on empirical evidences for policy effects.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.593-604
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• 2020

This study analyzes human development convergence and the impact of funds transfer to the regions using σ and β-convergence analysis method. Observations were made in all Indonesia's provinces in the period 2010-2019. The coefficient of variation calculation shows a dispersion in the inequality of human development, which means that convergence occurred. This is also documented by the clustering analysis results developed in the study. The results are in line with the hypothesis of neoclassical theory, which shows the tendency for provinces with lower human development levels to grow relatively faster. The dynamic panel data approach with the GMM model shows that a model built with explanatory variables for transfer of funds to regions may lead to the process of convergence of human development - 2.21% per year or 31 years to cover the half-life of convergence. This is a consequence of the Special Allocation Fund and the Village Fund, which positively impact the convergence process, and the General Allocation Fund and the Revenue Sharing Fund with negative signs slowing the convergence process. This evidence opens opportunities to review the justification of the weighting component in determining the amount of funds transferred to the region to accelerate the convergence process of human development.

• Journal of Korean Library and Information Science Society
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• v.36 no.3
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• pp.313-334
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• 2005

This study is to find the way to solve the expecting financial problems of academic library which has to secure more students than other universities. to be specialized. and to have a growth in quality. due to the decline of birth rate and increase of the number of university students. And also I would like to pave the way for raising funds. which will be the pending issue shortly. through studios and data analysis of the condition and way to collect academic library development fund and university development fund in Korea and America. Especially this study introduce some cases to raising funds at University at Albany. University of Kentucky. University of Cornell and the evaluation for the raise funds at 23 universities in the state of California, USA.