• Korea Trade Review
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• v.45 no.1
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• pp.155-171
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• 2020

In reality, there are numerous [Note: I advise to change the tone to being more certain, as opposed to offering a possibility. You need to emphasize the seriousness of the conditions that your study wants to talk about] non-tariff trade barriers under free trade agreements, with various stakeholders having different trade-off interests. This study focuses on the rules of origin verification and considers cases in which domestic firms, foreign firms, and domestic consumer groups compete politically for their rent protection in the domestic market. As in Gwande et al. (2006), cross-border lobbies are considered possible wherein foreign firms also lobby the government to influence the decision-making process of how stringently to verify the rules of origin. [Note: Starting here, switch to past tense because a: study intentions above can be in present tense, b: study procedures should be in past tense] In this study, we assumed that all stakeholders form interest groups and present political contributions to the government based on their interests. The stringency of the rules of origin verification was then determined through this political process, and we compared this to a socially optimal one in the analysis. It was found that the verification was less stringent when there was cross-border lobbying than the socially optimal one.

• Asian Journal of Innovation and Policy
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• v.12 no.2
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• pp.246-260
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• 2023

With the advent of COVID-19, the world economy has undergone enormous losses and unprecedented crises. Moreover, this pandemic has put a significant effect on all business organizations, comprising the micro, small and medium enterprises (MSMEs) sector. MSMEs have been continuing to develop business strategies and are eager to compete in the market. The COVID-19 pandemic has shifted the full focus of MSMEs from 'business growth' to 'business survival' worldwide. E-commerce readiness plays a crucial role in a time of uncertainty and crisis during COVID-19 and affects the durability and sustainability of the business. This study attempts to study the readiness of online business and "E-commerce" adoption of MSMEs and its contribution to economic growth by utilizing both qualitative and quantitative techniques in the case of India. We use content analysis to determine the readiness of online business and Ecommerce in the post COVID-19 period. The result highlights the specific issues of this sector such as the shortage of resources and disruptions in the supply chain & logistical issues during the COVID-19 pandemic. Qualitative analysis discloses that almost half of the respondents adopt online platforms along with additional challenges to sustain their business during the pandemic. This study utilizes annual time series data for the period from 1973-74 to 2017-18 to understand the long-run relationship between India's GDP and MSMEs units. By utilizing the co-integration technique, this study reveals that there is a long-run relationship between MSME units and the economic growth of this country.

• The Journal of the Convergence on Culture Technology
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• v.9 no.6
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• pp.251-256
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• 2023

International diesel prices play a crucial role in various sectors such as industry, transportation, and energy production, exerting a significant impact on the global economy and international trade. In particular, an increase in international diesel prices can burden consumers and potentially lead to inflation. However, previous studies have primarily focused on gasoline. Therefore, this study aims to propose an international diesel price prediction model. To achieve this goal, we utilize various global economic indicators and train a linear regression model, which is one of the machine learning methodologies. This model clearly identifies the relationship between global economic indicators and international diesel prices while providing highly accurate predictions. It is expected to aid in understanding overall economic trends including market changes.

• Asia-Pacific Journal of Business
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• v.14 no.3
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• pp.221-240
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• 2023

Purpose - This paper investigates how business cycle impacts on corporate credit spreads since global financial crisis. Furthermore, it tests how the impact changes by the phase of the cycle. Design/methodology/approach - This study collected dataset from Barclays Global Aggregate Bond Index through the Bloomberg. It conducted multi-regression analysis by projecting business cycle using Hodrick-Prescott filtering and various cyclical variables, while ran dynamic analysis of 5-variable Vector Error Correction Model to confirm the robustness of the test. Findings - First, it proves to be statistically significant that corporate credit spreads have moved countercyclicaly since the crisis. Second, It indicates that the corporate credit spread's countercyclicality to the macroeconomic changes works symmetrically by the phase of the cycle. Third, the VECM supports that business cycle's impact on the spreads maintains more sustainably than other explanatory variable does in the model. Research implications or Originality - It becomes more appealing to accurately measure the real economic impact on corporate credit spreads as the interaction between credit and business cycle deepens. The economic impact on the spreads works symmetrically by boom and bust, which implies that the market stress could impact as another negative driver during the bust. Finally, the business cycle's sustainable impact on the spreads supports the fact that the economic recovery is the key driver for the resilience of credit cycle.

• Asia-Pacific Journal of Business
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• v.14 no.3
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• pp.149-166
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• 2023

Purpose - This study aimed to examine the influence of various factors on customer satisfaction and the continuance usage intention, based on the purchasing type of smart speaker users. Design/methodology/approach - Data was gathered through surveys, collecting responses from 180 smart speaker users in Korea. Structural equation modeling was utilized to analyze the data. Findings - Both perceived usefulness and perceived security were observed to have a significant positive impact on customer satisfaction across all user groups. Moreover, perceived ease of use and perceived versatility showed a significant positive effect on the continuance usage intention. Notably, for those who acquired the smart speakers for free, perceived usefulness had a positive impact on the continuance usage intention. Conversely, for those who made a paid purchase, perceived versatility played a significant role in driving customer satisfaction. Research implications or Originality - This research offers insights into the Korean smart speaker market, a unique environment where local competitors thrive in the absence of giants like Amazon and Google. It provides a nuanced view of customer reactions to these innovative devices. The study further distinguishes between high-involvement (paid purchase users) and low-involvement (free acquisition users) consumers, offering a more detailed understanding of user perspectives based on their acquisition mode.

• Asia-Pacific Journal of Business
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• v.14 no.3
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• pp.1-16
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• 2023

Purpose Despite the ongoing digital transformation, it is not clear whether emerging market firms follow their manufacturing FDI path in the emerging digital industries. This paper examines how digital orientation affects the location strategies in internationalization and how the existing innovation capacities moderate the link between digital orientation and the location strategies. Design/methodology/approach This study chooses the Chinese setting for research design because digital transformation is already prevalent in the society and the cases of outward expansion are salient among the emerging markets. It uses the panel dataset of 976 Chinese listed firms that consists of 6,648 observations spanning from 2007 to 2017. Ordinary least square regression is used for the statistical approach with a one-year lag in the model. Findings Digital orientation increases a likelihood of emerging multinationals' entries in developed countries, and a high level of innovative capacities strengthens the link. Two groups seem to prefer entries in developed countries: firms with a high level of digital orientation with a high level of innovative capacities and firms with a low level of digital orientation, if with a low level of innovative capacities. The former reflects the context of digital transformation and the latter hints at the tax avoidance or interests in real estate. Research implications or originality While emerging multinationals are known to prefer entries in developing countries for capacity arbitrage, our results forecast that their FDI strategies may have a drastic change as digital transformation deepens.

• Asia-Pacific Journal of Business
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• v.14 no.3
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• pp.205-219
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• 2023

Purpose - This study examines the effect of corporate debt characteristics on the relationship between anti-takeover provision and the cost of debt. Design/methodology/approach - The study analyzes a sample of non-financial firms listed on the stock market with December fiscal year-end from 2011 to 2018. Debt default risk (debt size, liquidity ratio, interest coverage ratio, loss occurrence) and the issuance of bonds are utilized as measures of corporate debt characteristics. Findings - First, it is observed that creditors of firms with anti-takeover provision demand higher returns as the debt default risk of these firms increases. Second, for firms issuing bonds, it is found that bondholders in companies with anti-takeover provision also seek higher returns. Research implications or Originality - This study contributes by demonstrating that the effect of anti-takeover provision on creditors can vary depending on corporate debt characteristics. Particularly, the study highlights the importance of a firm's debt default risk and creditor distinction (bondholders vs. regular creditors) as significant factors that may influence perceptions of anti-takeover provision.

• Journal of Information Technology Applications and Management
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• v.31 no.3
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• pp.93-104
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• 2024

This study conducts an in-depth analysis of user reviews from three leading metaverse platforms - Minecraft, Roblox, and Zepeto - using advanced topic modeling techniques to uncover key factors for business success. By examining a substantial dataset of user feedback, we identified and categorized the main themes and concerns expressed by users. Our analysis revealed that common issues across all platforms include technical functionality problems, user engagement and interest, payment concerns, and connection difficulties. Specifically, Minecraft users highlighted the importance of adventure and creativity, Roblox users expressed significant concerns about security and fraud, and Zepeto users focused heavily on the fairness of the in-game economy. The findings suggest that for metaverse platforms to achieve sustained success, they must prioritize the resolution of technical issues, enhance features that foster user engagement, ensure reliable connectivity, and address platform-specific concerns such as security for Roblox and payment fairness for Zepeto. These insights provide valuable guidance for developers and business strategists, emphasizing the need for robust technical infrastructure, engaging and diverse content, seamless user access, and transparent and fair economic systems. By addressing these key areas, metaverse platforms can improve user satisfaction, build a loyal user base, and secure long-term success in an increasingly competitive market.

• Asia-Pacific Journal of Business
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• v.15 no.1
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• pp.225-237
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• 2024

Purpose - This study aims to explore the relationship between housing and land prices, with a specific emphasis on the impact of government policies on these factors such as land supply quantity and the ratio of residential land to total land supplied. The goal is to identify the most effective government intervention strategies for controlling both housing and land prices. Design/methodology/approach - Data from 70 primary and medium-sized cities in China spanning from 2003 to 2017 are utilized in this research. The analysis employs a panel vector autoregressive (PVAR) model, with a primary focus on examining the relationships among housing prices, land prices, and government intervention policies. Findings - Housing and land prices are influenced by various factors. Through impulse response analysis and variance decomposition, it is observed that both housing and land prices are predominantly influenced by their internal dynamics, with comparatively weaker effects attributed to policy interventions. Research implications or Originality - By investigating the impact of government policies on housing and land prices, This study establishes a foundation for effective price control measures. Our study advocates for a comprehensive examination of China's land supply mechanism to enhance understanding of the pathways through which government policies influence the markets.

• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.319-330
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• 2023

Purpose - The purpose of this paper is to examine the connectedness between categorical economic policy uncertainty (monetary, fiscal, trade and foreign exchange policy uncertainty) indexes and option-implied volatility index in Korea, Japan and the US. Design/methodology/approach - This paper employs the Diebold-Ylmaz (2012) model based on a VAR and generalized forecast error variance decomposition. This paper also conducts regression analyses to investigate whether the volatility indexes are explained by categorical policy uncertainty indexes. Findings - First, we find the total connectedness is stronger in Korea and Japan relative to the US. Second, monetary, fiscal, and foreign exchange policy uncertainty indexes are connected to each other but trade policy uncertainty index is not. Third, the volatility index in Japan and the US is mainly associated with monetary policy uncertainty while the volatility index in Korea is explained by fiscal policy uncertainty index. Research implications or Originality - To our knowledge, this is the first study to investigate the connectedness among categorical policy uncertainty indexes and the volatility index in Korea, Japan, and the US. The empirical results on the connectedness suggest that transparent policy and communication with the market in one type of policy would reduce the uncertainty in other policies.