• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.115-125
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• 2020

This paper investigates the impact of working capital management on the firm's profitability. The research sample includes 119 non-financial listed companies on Vietnam stock market over a period of 9 years from 2010 to 2018. Two statistical approaches include Ordinary least squares (OLS) and fixed effects model (FEM) are employed to address econometric issues and to improve the accuracy of the regression coefficients. The empirical results show the negative and significant impacts of the working capital management, which measured by cash conversion cycle (CCC) and three components of the CCC including accounts receivable turnover in days (ARD), inventory turnover in days (INVD), and accounts payable turnover in days (APD) on the firm's profitability measured by return on assets (ROA) and Tobin's Q. It implies that firms can increase profitability by keeping the optimization of the working capital management measured by the CCC, which includes shortening the time to collect money from clients, accelerating inventory flow and hold the low payment time to creditors. Besides, the profitability of firms was impacted by the sale growth rate, firm size, leverage, and age. Therefore, this paper provides a new insight to managers on how to improve the firm's profitability with working capital management.

• Journal of Applied Tourism Food and Beverage Management and Research
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• v.10
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• pp.109-138
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• 1999

The hotel does not sell one-time services, and the customer has many choices, especially today. And hotel is vulnerable to new competition. Most customers likes to try a new place and new product. The questions are 1) offering competitive products that are meaningful to customers 2) solving customers problems 3) offering a competitive products that are difficult for competitors to duplicate. This report is for studying about the relationship between the results of National Customer Satisfaction Index(NCSI) and the hotels' revenue. And explore the ways to identify opportunities for creating the desired image that differentiates from the competition and for serving the target market better than anyone else. For the about objectives, the following items are reviewed: 1) Customer behavior and customers' needs and wants 2) Customer decisions 3) Integrated marketing 4) Customer satisfaction 5) Major factors of the hotel customers satisfaction 6) Moment of truty Market positioning is to creat a distinctive place in the minds of potential customer. To position successfully requires recognizing the marketplaces. the competition, value for money and customers' perceptions. Finally, internal marketing efforts can be used to examine one's own position to see if it is perceived by it's customers. It means that the benefits exist in the mind of the customer and are determinable only by asking the customer. These kinds of efforts are essential to proper positioning analysis and long term relationship marketing.

• Korean Journal of Agricultural Science
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• v.33 no.2
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• pp.97-106
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• 2006

To strengthen the competitiveness of agricultural sector of the Korea, the direction of market trends on agriculture of the Malaysia was reviewed. The most dominating agricultural area in value is palm oil products, and forest products, sea products poultry products and rubber products is in order. The cultivated area of highest two top plants, oil palm and rubber, was about 4.4 million hectares in 2005, but it is decreasing year by year. Comparatively, rice field, pine apple and fruits tree cultivating area is increasing in tendency by the year. Among all the agricultural products, those items such as pork meat, poultry, egg were self-sufficient, rice, fruits, vegetables and sea products were about 70 to 80% self-sufficient, and beef meat, goat meat and milk were below 20% self-sufficient. Most of the grains, such as wheat, rice, barley, corn etc. and their processed food were imported. Also, temperate fruits such as apple, pear, and water cultivated as well as sprouting vegetables are imported. Ornamental products as cutting flowers and orchids are exported to mainly to the Singapore, but high quality temperate fruits and vegetables are imported from Australia. Oil palm exportation covers the balance of the other items imported and obtaining the foreign money as well in Malaysia.

• Journal of the Korean Society of Clothing and Textiles
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• v.22 no.3
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• pp.417-427
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• 1998

Price, one of the marketing 4p's, is a key decision variable affecting market share and the profitability of individual products. For consumers, since price is almost always known to and can be compared, it is one of the most important criteria when they make a purchase decision making. With the consumers' increasing consciousness for price due to economic recession, and the saturation of domestic apparel market, it is expected that the effect of price on consumers' decision making would be greater than ever. This study, the first in two part series, focuses on testing the validity of dimensions of clothing price using Lichtenstein et. at. (1993)'s suggestion. In addition, the effect of demographic variables on the perception of each price dimension was investigated. The subjects were 264 college students living in Seoul, Korea. The data were collected by self -administered questionnaires and analyzed by t-test, ANOVA, regression analysis and Lisrel confirmatory factor analysis. The result supported Lichtenstein et. al. (1993)'s suggestion. That is, consumers' perception of clothing price is not mini-dimensional, but has six dimensions: sale proneness, price mavenism, value consciousness, price consciousness, price -quality schema and prestige sensitivity. Demographic variables partially effect on the consumers' perception of each clothing price dimension. The level of monthly pocket money, however, has influence on all price dimensions. Based on these results, marketing implications for apparel manufacturers were suggested.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.70
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• pp.109-133
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• 2016

As for Korea, China is very important because of an advantageous geological accessibility and high economic dependency. Therefore, the Korean government announced its plan to establish 5billion dollars' investment from Greater China (including Hong Kong and Singapore) and the government has put much effort into accommodating more Chinese investment by diversifying investment channels from Greater China. Under this major Chinese investment boom, it is crucial to conduct in-depth research on accommodation of Chinese investment and create a plan to establish Chinese capital investment that will benefit both the investing country and the countries receiving the investment. Hence, the present study analyzed current trends in Chinese investment for the Korean market, focusing on the stimulation methodology for establishing greater investment from China. To this end, this paper examined various investment characteristics of Chinese investors for the Korean market by researching investment development levels on different time lines and analyzing Chinese investment in Korea for a variety of industries. Through the research, the following study derived a more effective strategy to accommodate greater Chinese capital investment. There has been a worldwide increase in the number of letter of credit cases involving fraud recently. It may happen that the documents which are tendered to the banks under a documentary credit are forged, altered or fraudulent. Banks assume no liability or responsibility for the form, sufficiency, accuracy, genuineness or falsification of any documents.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.177-184
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• 2020

This paper analyzes factors affecting corporate investment decisions in economic groups listed on the Vietnam stock market. The panel data of the research sample includes 39 economic groups listed on the Vietnam stock market from 2009 to 2019. The Generalized Least Square (GLS) is employed to address econometric issues and to improve the accuracy of the regression coefficients. In this research, the investment rate is a dependent variable. Cash-flow (CF), Investment opportunities (ROA), Fixed capital intensity (FCI), Leverage (LEV), Sales growth (GR), Size (SZ), Business risk (RISK) are independent variables in the study. The model results show that cash flow and sales growth have the same impact on investment decisions of economic groups in Vietnam. In addition, investment opportunities have a negative impact on the capital investment decisions of economic groups. The remaining factors include fixed capital intensity, leverage, firm size, and business risks that have a weak and insignificant impact on capital investment decisions of economic groups in Vietnam. The findings of this article are useful for business administrators, and helping business managers make the right financial decisions. Besides, the research results are also meaningful to money management agencies. The authors recommend that the State Bank of Vietnam should maintain a sustainable monetary policy.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.87-94
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• 2020

This study aims to evaluate the effectiveness of sterilization in Vietnam. We estimate a simultaneous equation by using Two-Stage least squares (2SLS) regression analysis. The time-series data was collected for the first quarter of 2004 to the fourth quarter of 2018. In particular, the effectiveness of sterilization is considered in terms of dollarized economy, since making the transition from a centrally planned to a market economy system, the Vietnamese economy has remained in a state of dollarization. In addition, we also assess whether the global financial crisis had an impact on the sterilization effectiveness of the State Bank of Vietnam (SBV). On the basis of the estimated sterilization and offset coefficients, our results suggest that the State Bank of Vietnam (SBV) has not been able to fully neutralize the impact on the domestic money supply when intervening in the foreign exchange market, and the capital inflows respond strongly to changes in domestic monetary conditions. The results also show that the global financial crisis has changed the effectiveness of these sterilization policies. An analysis of this study's empirical findings provides the opportunity to derive some recommendations that may assist in increasing the effectiveness of the State Bank of Vietnam's sterilization policies in the process of accumulating international reserves.

• 사회경제평론
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• v.29 no.1
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• pp.71-98
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• 2016

This study reveals the followings in the Tugan's business cycle thoery. First, Tugan tried to construct a business cycle theory based on his market theory. But Tugan' theory is lack of logical consistency. Second, Tugan's critics as well as defenders did not understand his theoretical error. Underconsumption theorists did not evaluate Tugan's periodical crisis theory while only criticizing Tugan's crisis theory neglected a consumption. Bauer developed Tugan's periodical crisis by using the reproduction scheme including a hoarded money. Hilferding only constructed a theory of crisis properly criticizing Tugan's crisis theory on the basis of Marx's concept of crisis.

• The Journal of the Korea institute of electronic communication sciences
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• v.14 no.5
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• pp.943-950
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• 2019

Machine learning can greatly improve the efficiency of work by replacing people. In particular, the importance of machine learning is increasing according to the requests of fourth industrial revolution. This paper predicts monthly power transactions using MLP, RNN, LSTM, and ANFIS of neural network algorithms. Also, this paper used monthly electricity transactions for mount and money, final energy consumption, and diesel fuel prices for vehicle provided by the National Statistical Office, from 2001 to 2017. This paper learns each algorithm, and then shows predicted result by using time series. Moreover, this paper proposed most excellent algorithm among them by using RMSE.

• KDI Journal of Economic Policy
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• v.40 no.4
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• pp.1-22
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• 2018

We estimate three continuous-time stochastic volatility models following the approach by Aït-Sahalia and Kimmel (2007) to compare the Korean and US stock markets. To do this, the Heston, GARCH, and CEV models are applied to the KOSPI 200 and S&P 500 Index. For the latent volatility variable, we generate and use the integrated volatility proxy using the implied volatility of short-dated at-the-money option prices. We conduct MLE in order to estimate the parameters of the stochastic volatility models. To do this we need the transition probability density function (TPDF), but the true TPDF is not available for any of the models in this paper. Therefore, the TPDFs are approximated using the irreducible method introduced in Aït-Sahalia (2008). Among three stochastic volatility models, the Heston model and the CEV model are found to be best for the Korean and US stock markets, respectively. There exist relatively strong leverage effects in both countries. Despite the fact that the long-run mean level of the integrated volatility proxy (IV) was not statistically significant in either market, the speeds of the mean reversion parameters are statistically significant and meaningful in both markets. The IV is found to return to its long-run mean value more rapidly in Korea than in the US. All parameters related to the volatility function of the IV are statistically significant. Although the volatility of the IV is more elastic in the US stock market, the volatility itself is greater in Korea than in the US over the range of the observed IV.