• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.897-907
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• 2021

The purpose of this study is to investigate the quality of entrepreneurship - motivation, entrepreneurial orientation, and risk behavior - in relation to the odds of micro-, small- and medium-sized enterprises' (MSMEs) financial performance in Indonesia. Additionally, this paper investigates how these qualities apply for the current challenges perceived by MSMEs' entrepreneurs in Indonesia due to Covid-19 crisis; specifically, this paper examines the odds of MSMEs' financial performance during the pandemic in respect to when these qualities are implemented by the entrepreneurs. The empirical data was obtained from an online survey by means of a structured questionnaire. MSMEs surveyed were randomly selected on a national scale. To test the hypotheses, a quantitative approach is employed, using multinomial regression. The main result shows that, under normal economic environment, the more intrinsically-motivated and continuity-driven entrepreneur is, the more likely the MSME will achieve financial growth compared to remaining stagnant. To our surprise, innovativeness leads to less likelihood of MSME's financial growth, suggesting the significance of innovation does not apply to MSMEs in Indonesia. Lastly, MSMEs' risk behavior to operate in a stable business environment is found more likely to result in a better performance and is true for operational and financial risks, but not marketing risks.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.917-929
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• 2021

This study highlights the importance of remittance, the factors which affect the percentage of income remitted, and the investment options available to reduce remittance. For the year 2019, the remittances from Oman totaled $9.1 billion. Oman was among the top remitters with remittance to gross domestic product (GDP) ratio of 11.9%. A survey was conducted on 300 resident expats in Oman. The descriptive analysis shows that the maximum remittance percentage is between 21%-40% of income. The multinomial logistic regression results show that outward remittance depends on gender, age, occupation, number of dependent in Oman, and the number of dependent in the home country. Regarding investment, the most preferred investment option is business, followed by real estate and financial services. Age and education are found to affect investment options. This paper tries to fill the literature gap, especially for the case of Oman, by exploring what determines the level of remittance and the preferred choices for retaining funds. This study adds to the existing literature, as no previous study is available regarding how personal factors can influence the level of remittance and investment in a small oil-exporting developing country like Oman. The study will be helpful to policymakers and academicians in devising policies to retain and invest the outwards remittances in Oman.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.1217-1230
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• 2021

Using a multinomial logit model with the panel-data set of Vietnam manufacturing firms, this paper investigates the impacts of foreign direct investment (FDI) - small and medium enterprises (SMEs) linkages and other factors on SMEs' participation in the global value chain (GVC). We consider GVC firms are those engaging in any of the three modes including (i) using domestic inputs to export (D2E), (ii) using imported inputs to produce for the domestic market (I2P), (iii) using imported inputs to export (I2E). We discover that FDI-SME linkages statistically encourage Vietnamese SMEs to integrate into the GVC via I2P and I2E, while no statistical association between FDI-SME linkage and D2E participation is found. GVCs participation likelihood is also positively correlated with the introduction of new product introduction. The establishment of firms' production facilities in industrial zones and foreign ownership are both reported to be significantly decisive factors to SMEs' decisions on GVC participation. Besides, there is a strong association between firms' attributes, i.e. employment, capital intensity as well as financial access, and their participation in the GVC. Local governance quality (proxied by the Provincial Competitiveness Index) and the share of skilled labor at the province-level can facilitate firms' integration into GVCs, while greater market concentration may be a hurdle to such potential.

• The Journal of Asian Finance, Economics and Business
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• 제8권8호
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• pp.465-473
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• 2021

This study is the application of a choice experiment to assess Mekong Delta urban households' preferences and motivations for ecosystem conservation in the U Minh forest. The study applied a choice modeling approach to estimate the economic values of the proposed ecosystem conservation program in the U Minh forest by accessing urban consumer preferences and their willingness to pay for the project. Discrete choice experimental data was collected from 450 residents in the cities of the Vietnamese Mekong Delta. The multinomial logit model was employed to identify consumer's stated preferences for the environmental and sustainability attributes of the conservation project. The results showed that Mekong Delta urban residents paid much attention to the proposed project to protect and develop the U Minh forest. In addition, the results showed that higher education, income, and knowledge of the U Minh forest revealed a higher likelihood of selecting the project, while the older residents would select the status quo more than the younger ones. The study also proved that the effect of participation had a strong impact on the willingness to pay for the project. The findings could be useful for policymakers to take action to raise resident's awareness and willingness to pay for the U Minh forest project.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.1143-1152
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• 2021

The study aims to assess the impact of factors on the access to financial services by Vietnamese farmers. The number of respondents in this study is 402 household heads participating in six diverse agricultural value chains in Vietnam. The explanatory variables of the Multinomial Logit model estimates variables at the individual characteristics while the Mixed Logit model can combine the two types of variables together to estimate the effects simultaneously. On the other hand, the Ordinal Logit model is used to evaluate the determinants of the increase in the quantity of financial services used by individuals. The estimation results show that male-headed households have more access to financial services than females. Younger farmers are more likely to use formal financial services than the elderly. Financial literacy, land ownership, and shocks in agricultural production all have a positive impact on the probability of dealing with banks. In addition, the degree of linkage and credibility of the value chain have a significant positive impact on the accessibility of financial services to farmers. The findings of this study suggest that limiting gender inequality, focusing on youth marketing and developing agricultural value chains will have a positive impact on farmers' access to financial services.

• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.609-621
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• 2021

Faith-based investment instruments, such as sharia-based stocks, have developed rapidly in recent years. When investing in these instruments, investors tend to emphasize materialistic returns as measured with monetary returns and metaphysical returns, such as blessings from God (Allah) because of their observance of Islamic teachings. In this respect, it is important to investigate the role of individuals' religiosity in investment decision making in Sharia-based financial products. An equally crucial research question is whether individuals' religiosity levels affect expected material returns as measured by the tolerable negative returns of sharia-based stocks. This study relies on a survey method that involves university students in Java island who actively invest through the Investment Gallery of their faculties/ universities as the sample. Data is then analysed with the multinomial regression analysis technique. The results show that individuals who are more observant of their religious teachings are more likely to fully invest their funds in Sharia-based stocks and exhibit greater tolerance towards the negative returns of Sharia-based stocks. The findings indicate that Muslim investors who are more observant of Islamic teachings emphasize metaphysical returns from their investment decisions.

• The Journal of Asian Finance, Economics and Business
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• 제9권5호
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• pp.397-407
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• 2022

The informal economy is a large part of the urban economy. The informal economy accounts for about half of Pakistan's GDP. This research examined nine different areas of Rawalpindi's Central Business District's business sector (CBD). A survey of 404 respondents from 16 CBD marketplaces enables a comprehensive examination of who works in the informal and formal economic sectors, how much they earn, their goals, perception of their job, and their degree of similarity to the rest of the working population. Furthermore, the statistics illustrate the pro-cyclical connections between the informal economic sector and the formal economy. The Multinomial Logistic Regression (MLR) technique is used for the analysis. The MLR results indicated the informal economic sector holds positive relation with earning members in a family, business expertise, average business sale, and negative relation with education level, satisfaction with government tax policies, household expense, and average investment in the business. From a resilience standpoint, governance is considered an intentional collective action to preserve a stable system condition. Hence, the current study recommends tax reforms and government institution reorganization to mobilize the informal sector and make effective institutional governance.

• KDI Journal of Economic Policy
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• 제29권1호
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• pp.41-78
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• 2007

의료자원량의 지역 간 격차 해소는 오랫동안 정책과제로 지적되어 왔으며, 이에 따라 공공의료 확충계획과 병상수급관리 정책 등 지역 간 자원균점을 목표로 하는 정책방향이 수립되어 왔다. 그러나 정책방향으로서의 형평의 성격이나 측정기준이 무엇인지에 대한 구체적인 방향이 정립되어 있지는 않았기에, 정책방향에 대한 폭넓은 동의가 이루어지지 못해왔다. 본 연구는 의료기관들의 불균등분포가 초래하는 문제는 결국 진료를 위해 환자들이 이동해야 하는 불편함이라는 것에 착안하여, 우선 환자이동상황을 관찰한 후 이를 통해 병상수급관리에 대한 시사점을 도출하는 것을 목표로 한다. 또한 불편함을 초래하는 환자의 이동은 단일하고 동질적인 현상이 아니라 다양한 성격과 수준을 가진 현상이라는 점을 고려하였다. 먼저 이동기준에 관해서는 거주 행정구역을 벗어나거나, 인접지역을 포함한 지역을 벗어나거나, 생활권기준의 지역을 벗어나는 경우 등 세가지의 이동기준을 이용했고, 다양한 이동 수준을 반영한 다항로짓모형을 분석하였다. 결과적으로, 생활권을 기준으로 이동현황을 측정하는 경우에는 거주행정구역을 기준으로 한 경우보다 지역 간 불균등 정도가 크게 감소하였고, 이동기준과 이동수준에 따라 이동형태나 이동요인에도 차이가 나타났기에, 지역의 자원보유현황을 평가함에 있어 이동기준 설정과 이동의 원인과 폭을 파악하는 과정이 중요시되어야 한다는 점을 확인하였다.

• 한국지리정보학회지
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• 제24권4호
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• pp.148-163
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• 2021

본 연구는 「도시재생 활성화 및 지원에 관한 특별법」에 따라 2017년부터 시작된 도시재생 뉴딜사업(이하 '뉴딜사업')의 종류가 다양해짐에 따라 데이터 기반의 정확한 쇠퇴진단과 사업유형 예측이 중요하다고 판단되어, 전국 읍면동을 대상으로 가장 적합한 뉴딜사업 유형을 판별할 수 있는 적용 모형 개발을 위한 연구를 수행하였다. 적용 모형 개발을 위한 데이터는 통계지리정보서비스(SGIS)와 도시재생정보체계의 '도시재생 종합정보 개방체계'를 통해 수집하고 데이터 전처리를 거쳐 분석 모델을 위한 데이터를 구축하였다. 적용 모형은 다항 회귀분석과 다항 로지스틱 회귀분석을 통해 4가지 모형을 도출하였다. 4가지 모형의 적용 가능성과 유효성 검증을 위해 서울특별시를 대상으로 각 모형별로 기존에 선정된 뉴딜사업지에 공간분포도를 비교 분석한 결과 DI-54 모형이 가장 높은 일치율을 확인할 수 있었다. 또한 DI-54 모형을 전국 954개 도시 쇠퇴지역에 적용해본 결과에서도 적합 도시재생 사업유형 판별에 활용 가능성을 확인할 수 있었다.

• 해양환경안전학회지
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• 제27권7호
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• pp.1004-1010
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• 2021

선박의 해양사고 중 부유물 감김사고는 운항지연에 그치지 않고 대형 인명 피해사고까지 이어질 수 있어 이에 대한 예방책이 요구되고 있다. 이에 본 연구는 영해와 베타적경제수역 등을 포함한 해역의 최근 5년간 선박의 부유물 감김사고 데이터를 시·공간적 측면에서 분석하고, 관련 연구 분야에 기초 자료를 제공하고자 한다. 부유물 감김사고의 상대적 밀도 분포를 시각화하기 위하여 이차원 평활 히스토그램을 적용하였으며, 시간대, 주·야간, 계절에 따른 각 변수가 감김사고에 미치는 영향을 분석하기 위해 다항 로지스틱 회귀모형을 적용하였다. 공간적 분석결과 전체 사고에 대해 평활화된 밀도 값이 높은 곳은 진해만을 포함한 거제도~통영 해상이었으며, 서해 전곡항 인근 해상, 제주도 북부 해상으로 나타났다. 시간적 분석결과 부유물 감김사고는 주간에 71.4%로 가장 많이 발생하였으며, 계절별로는 가을철이 다른 계절에 비해 가장 많이 발생한 것으로 분석되었다. 또한, 어선, 수상레저기구, 낚시어선의 감김사고 발생 가능성이 화물선 보다 높은 것으로 조사되었다. 본 연구의 시·공간적 분석결과는 향후 부유물에 대한 단속강화 및 제거를 위한 해양경찰함정 배치와 시간별·계절별 사고방지를 위한 부유물 사전 제거작업 대책 마련의 기초자료로 활용될 것으로 기대된다.