• Journal of Industrial Convergence
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• v.2 no.1
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• pp.159-186
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• 2004

One of the biggest change in the distributive market recently is that the development of private brand is progress actively since consumers purchasing behavior is tend to shift to resonable and practical planned purchase from brand image or brand name. Once the development of private brands is done successfully, the independent merchandising distinguished from other distribution companies is established, store image through customer satisfaction is strengthen and volume of sales and profit are increased. However, the existing studies in this field have not dealt with this matter systematically. Therefore, the purpose of this study is to propose an integrated framework within which to view private brand proneness. Factors found to influence private brand proneness included perceived cost, with private brand, perceived value for money, store fame, perceived risk, perceived quality variation between national and private brand products. Foe empirical analysis, the data were collected from 211 consumers who purchased the private brands in discount store and department store. With the collected survey data, reliability test, factor analysis for validity test and regression analysis for hypotheses test were conducted. Most hypotheses were accepted but on hypotheses were rejected negative relation of perceived cost and private brand proneness. Research results indicate that private brand proneness is affected by perceived value, perceived fame and there are negative relation between private brand proneness and perceived quality variation.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.403-411
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• 2021

This paper discusses the relationship between debt literacy, peer-to-peer lending, and over-indebtedness in Indonesia. It is essential because the number of loans on this platform continues to increase, both legal and illegal. Data was collected online in collaboration with commercial market research firms, JajakPendapat.net. Debt literacy and over-indebtedness were measured by self-assessment with questions from Lusardi and Tufano (2009a). Questions for debt literacy are about interest compounding, debt interest, and the application of time value of money in payment options. The question for over-indebtedness is about the amount of debt and the conditions resulting from that debt. By using descriptive methods, it is clear that the majority of respondents, both borrowers and non-peer-to-peer lending borrowers are debt illiterate, and those who have poor debt literacy have huge debt. Overall, only 1.85% of the respondents were debt literate. Those who live on the island of Java have better literacy because they are the center of economic growth in Indonesia. Debt from peer-to-peer (P2P) lending also has the potential to create problems, namely over-indebtedness. P2P lending borrowers also have very poor debt literacy. However, there is no difference in debt literacy between P2P lending borrowers and non-P2P lending borrowers.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.10
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• pp.115-127
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• 2022

The study's goal was to investigate the levels of employee loyalty (EL) in two Thai railway rolling stock maintenance (RRSM) companies. Simple random sampling was used to obtain a final sample of 118 individuals from October 2021 through December 2021. The research instrument was a questionnaire with an expert IOC value between 0.67 to 1.00 and a questionnaire reliability Alpha (𝛼) average value of 0.82. Descriptive statistics included the mean and standard deviation (SD). SPSS for Windows Version 21 and Multiple Regression Analysis (MRA) was used for the analysis. Results showed that the 118 employee's overall perceptions of their RRSM employers' motivating factors, human resource management, satisfaction, and loyalty were high. HRM's performance evaluation had the most significant overall influence on EL. Moreover, from the analysis of the five EL questionnaire items, the most influential item was the employee's income as a contributing factor to their EL. This was followed by the suitability of their work. Also, it seems the employees had a high level of loyalty to their firms even if a better offer of more money was made. They also indicated a high level of pride in their respective firms.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.475-482
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• 2021

This research intends to examine and analyze the service quality effect on petrol buying intention through satisfaction when the Maranatha Christian University lecturers spend their money in the Pertamina-affiliated gas stations in Bandung. To attain this goal, we develop four relevant hypotheses to be tested. Furthermore, we use simple random sampling to acquire samples by denoting a sample size set by the Slovin formula. To collect the responses, we use the online survey and fruitfully yield a 53.54% rate with a total of 106 lecturers participating in completing the distributed questionnaire link. This number is near 100; hence, we employ a structural equation model with a variance basis to analyze them. After examining the data and conferring the results, we conclude three things. First, service quality does not affect purchasing intention, but customer satisfaction positively does. Second, service quality has a positive impact on customer satisfaction. Finally, consumer satisfaction successfully mediates the effect of service quality on the intention to buy. Based on these conclusions, this paper finds the superior service to the petrol buyers is the key driver for the gas stations under Pertamina control to effectively compete with their rivals in the marketplace, especially in Bandung.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.497-504
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• 2021

This extended study aims to analyze empirically the influence of firm diversification on firm performance moderated by the stages of the firm life cycle, which consists of introduction, growth, maturity, and decline. The target population of this study is the firms listed on the Indonesian Stock Exchange. The sampling method uses purposive sampling in the multi-business firm in Indonesia; it includes as many as 127 firms over the period from 2011 to 2017, totaling 889 firm-year observations. The firm performance is measured using a return of equity while the level of firm diversification with the minimum number of two operating segments is proxied by the Herfindahl index. The analysis method used in this study is the estimator model of the Generalized Method of Moment (GMM). The main findings show that the firm life cycle at the stage of growth and maturity significantly strengthens the influence of firm diversification on firm performance. On the other hand, the stage of decline fails to moderate the relationship between firm diversification and firm performance. This study discusses the implications and contributions of the findings theoretically, and provide some policy justifications for potential investors before they invest their money in the capital market.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.6
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• pp.105-114
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• 2022

With the help of this study, we aim to investigate the influence of Financial Distress (FD) and information and communication technology (ICT) on the operating performance and efficiency of banks in the Indian banking sector. FD can be defined as a position in which a company or individual is not in a condition to fulfill their promise of paying their obligations on time. The term "financial distress" refers to a situation in which a corporation or individual is unable to keep their promise of paying their debts on time. In this work, panel data analysis (PDA) was used to analyze data from 33 Indian banks over ten years (2010 to 2019). According to the findings, FD has a positive and significant impact on bank operational performance and efficiency. The current study will give the banking industry a better understanding of how a bank's performance can be negatively impacted by distressing conditions that render it inefficient and ineffective. Second, it will show investors how the level of distress can have a significant impact on bank performance in the market, finally resulting in the loss of money invested.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.45-52
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• 2021

Stock price fluctuations affect investor returns, particularly, in this pandemic situation that has triggered stock market shocks. As a result of this situation, investors prefer to move their money into a safer portfolio. Therefore, in this study, we approach an efficient portfolio model using smart beta and combining others to obtain a fast method to predict investment stock returns. Smart beta is a method to selects stocks that will enter a portfolio quickly and concisely by considering the level of return and risk that has been set according to the ability of investors. A smart beta portfolio is efficient because it tracks with an underlying index and is optimized using the same techniques that active portfolio managers utilize. Using the logistic regression method and the data of 100 low volatility stocks listed on the Indonesia stock exchange from 2009-2019, an efficient portfolio model was made. It can be concluded that an efficient portfolio is formed by a group of stocks that are aggressive and actively traded to produce optimal returns at a certain level of risk in the long-term period. And also, the portfolio selection model generated using the smart beta, beta, alpha, and stock variants is a simple and fast model in predicting the rate of return with an adjusted risk level so that investors can anticipate risks and minimize errors in stock selection.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.7
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• pp.81-91
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• 2022

The aim of this paper was to analyze the determinants of the extent of individual credit rationing at Can Tho Military Commercial Joint Stock Bank (MB). The data was collected from 150 customers according to the systematic random sampling method listed in the bank. This study employed quantitative analysis methods, and Tobit regression model, to test the proposed hypotheses. The results showed that the average loan amount of an individual customer was 1,181.3 million VND, the average credit limit was 48.6%, and the average interest rate was 10.9% per year. Most of the individual customers borrowed money to buy properties. In addition, the analysis results also indicated that individual borrowers still faced some difficulties in accessing bank credit, such as cumbersome procedures, long waiting times, insufficient collateral assets, and loan documents. The results of the Tobit model pointed out that there were five factors affecting the degree of credit rationing to individual customers at the bank, including (1) Collateral, (2) Income, (3) Credit history, (4) Loan purpose, (5) Relationship between borrower and bank. Based on the empirical findings, the possible solutions for the bank and individual borrowers to improve credit efficiency for individual customers at commercial banks are obtained.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.37-47
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• 2022

This study uses monthly data from January 2009 to December 2020 to examine the effectiveness of foreign currency intervention and its influence on monetary policy in Vietnam using a Hierarchical Bayesian VAR model. The findings suggest that foreign exchange intervention has little influence on the exchange rate level or exports, but it can significantly minimize exchange rate volatility. As a result, we can demonstrate that the claim that Vietnam is a currency manipulator is false. As well, the forecast error variance decomposition results reveal that interest rate differentials mainly determine the exchange rate level instead of foreign exchange intervention. Moreover, the findings suggest that foreign exchange intervention is not effectively sterilized in Vietnam. Inflation is caused by an increase in international reserves, which leads to an expansion of the money supply and a decrease in interest rates. Although the impact of foreign exchange intervention grows in tandem with the growth of international reserves, if the sterilizing capacity does not improve, rising foreign exchange intervention will instead result in inflation. Finally, we use a rolling window approach to examine the time-varying effect of foreign exchange intervention.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.355-363
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• 2022

The debt maturity structure has a significant impact on a company's financial situation. Any debt maturity structure decisions substantially impact investment decisions due to changes in capital cost and dividend decisions due to cash flow consequences. This study used the system generalized method of moment (Sys-GMM) to investigate the debt maturity structure of real estate companies listed on the Ho Chi Minh Stock Exchange (HOSE) in the duration from 2008 to 20019. It found that the firm size, liquidity, and tangible assets affected the decision on debt maturity structure. The tangible asset had the most significant impact on the possibility for companies to access long-term loans. This finding revealed that the majority of the real estate companies listed on HOSE borrowed money from banks. Such decisions are most likely affected by the collateral. Another finding of the study is that financial institutions had a major impact on loan maturity structure, whereas the effects of the financial market were negligible. Besides, the real estate companies listed on HOSE seemed not to pay attention to changes in inflation, economic growth, and institutional qualities when deciding on the debt maturity structure.