• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.777-784
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• 2021

This study explores the impact of COVID-19 pandemic and the lockdown policies that are used to tackle the pandemic on stock market returns in Indonesia. This study uses fixed-effects panel-data regression method to evaluate the impact of the growth in COVID-19 total confirmed cases and death as well as the lockdown policies on daily stock returns of 272 firms that are listed on the Indonesia Stock Exchange's main board and operate in the real sector from 2 March 2020 to 27 November 2020. The study confirms the significantly adverse impact of growth in the total of confirmed cases and death due to COVID-19 on Indonesia's daily stock returns. Moreover, the lockdown policies regardless how strict they are, have a positive and significant impact on the Indonesia's daily stock returns. This study further considers the different impact of COVID-19 pandemic on each of eight observed sectors; where the sector of property as well as trade, service and investment have a significantly negative performance; while the sector of basic industry, consumer goods and mining have a significantly better performance. This study suggests that COVID-19 pandemic and the lockdown policies have a mixed impact on the Indonesia's stock market returns.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.6
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• pp.245-252
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• 2022

This study examines the strength of the impact of fiscal policy tools on economic wellbeing as measured by per capita income in Malaysia from 1996 to 2020. The impact of fiscal policy instruments on economic wellness, represented by real income per capita, is measured using the autoregressive distributed lags model. The speed of adjustment from short-run disequilibrium to long-run equilibrium is also measured to assess the strength of the fiscal instruments' impact on per capita income. Empirical results exhibit the existence of co-integration relationships between per capita income, tax revenue, and government spending. The findings provide strong support for the presence of a long-run positive impact on government spending and a long-run negative impact of tax revenue on per capita income. The coefficient of ECT_t-1 indicates that deviations from a short-run disequilibrium to a long-run equilibrium from the current to the future period are corrected with a speed of 76% (equivalent to a duration of 1.5-2 years to return to equilibrium). The practical and policy implication of the results is fiscal instruments play a significant role, mainly in alleviating the economic impact of the COVID-19 pandemic in the long run.

• 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.

• Fashion & Textile Research Journal
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• v.4 no.3
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• pp.235-242
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• 2002

The purpose of this study was to investigate the types of perceived risk of Internet shopping and the impact of perceived risk on purchasing behavioral intention of Internet shopping mall shoppers. A self-administrated questionnaire was e-mailed to INR research (www.inr.co.kr) panel who had purchasing experience of fashion product through Internet shopping mall. The perceived risk was reduced when the innovativeness increased and purchasing experience in Internet shopping mall increased. The financial risk had an effect on purchasing intention, and social/psychological risk had impact on revisiting intention and word-of-mouth intention negatively. The performance risk perception had significantly negative influence on word-of-mouth intention. Internet using time per week, purchasing experience and Internet innovativeness were positive impact on purchasing behavioral intention of Internet fashion product.

• International Commerce and Information Review
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• v.10 no.3
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• pp.459-474
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• 2008

Under violent competition to secure international raw materials, safe supply and demand of crude oil that only relies on import among main raw materials is an important task for Korean economic development. Therefore, this study aims to analyze the impact of price change of international crude oil on merchandise balance. It also presents political suggestions in preparation for national economic development and safety and develops an organized and long-term overseas resources development program. As the time-series data which had the 1st difference contribute to dismissal of the null hypothesis successfully, we carry out a multivariate cointegration test developed by Johansen (1988) and find that at least one cointegration vector exists. And, when Impulse Response Function is introduced, as the crude oil import price shows a negative impact from Step 2, then an extreme change, a positive impact since Step 13, is maintained and a safe result appears.

• The Journal of Information Systems
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• v.27 no.4
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• pp.229-249
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• 2018

Purpose The purpose of this paper is to conduct exploratory comparative research on the determinants of successful crowdfunding projects, focusing on multiple crowdfunding platforms in Korea, U.S., and Japan. Design/methodology/approach This study collected data from three representative crowdfunding platforms: Wadiz (Korea), Kickstarter (U.S.), and Readyfor (Japan). Based on 1,906 crowdfunding projects from Wadiz, 3,864 projects from Kickstarter, and 3,060 projects from Readyfor, multiple regression models were applied. Findings Focusing on the crowdfunding projects which have overly achieved goal amount, the analysis results show that the number of comments, the number of Facebook likes and the number of backers have an positive impact on the performance of crowdfunding projects, while target amount has a negative impact. Comparatively, word counts of project description have an impact on funding performance in U.S. and Japan, while the number of images in project description affects funding performance in Korea and U.S. Meanwhile, video clips in project description has little impact on crowdfunding performance in all of the three funding platforms.

• International journal of advanced smart convergence
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• v.10 no.3
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• pp.26-32
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• 2021

The purpose of this study is to identify the impact of online golf product consumers' face on symbolic consumption trends, product satisfaction and new product purchase intention. To this end, a survey was conducted on 300 customers who have purchased golf products online at golf practice centers located in Seoul, Gyeonggi Province and Chungcheongnam-do Province. Data processing was performed using SPSS 23 and AMOS 18 to analyze verifiable factors, reliability, correlation, and structural equations. We obtained the following results. First, face has been shown to have a significant impact on symbolic consumption propensity. Second, symbolic consumption tendencies have a significant impact on product satisfaction and intention to purchase new products. Third, product satisfaction has been shown to have a negative impact on the intention of purchasing new products.

• Journal of Korea Trade
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• v.24 no.7
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• pp.93-106
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• 2020

Purpose - This paper aims to examine the environmental effects of South Korean foreign trade, and the changing relationship between industrial "three wastes" emissions and foreign trade. Design/methodology - Based on time series data of South Korean foreign trade and industrial "three wastes" from 2009 to 2019, a VAR model was used to analyze the long-term internal links and dynamic changes between foreign trade and environmental pollution. Findings - Variance decomposition analysis shows that for the three types of pollutants, self-impact contributes the most to the variance decomposition. It follows that South Korean foreign trade has a certain negative impact on the environment, and this impact has a certain sustainability. Originality/value - This paper contributes to the study on the relationship between foreign trade and environmental pollution. It theoretically proposes a coordinated development path for foreign trade development and green development based on the environmental impact of foreign trade, to provide a reference for the development of collaborative promotion.

• Human Ecology Research
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• v.60 no.3
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• pp.429-441
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• 2022

This study examined the influence of bullying victimization on reactive aggression among upper elementary school students, and the mediating effect of victim justice sensitivity on the relationship between such victimization and aggression. It also investigated whether negative urgency moderates the influence of bullying victimization on reactive aggression. The participants were a group of 262 children (114 boys and 148 girls) who were fourth to sixth-grade students from 10 elementary schools located in Seoul, Gyeong-gi, and Daegu. The data were analyzed with descriptive statistics, Pearson's correlation coefficients, and SPSS Process Macro Model 5. The results were as follows: First, victim justice sensitivity mediated the influence of bullying victimization on reactive aggression among upper elementary school students. Second, negative urgency moderated the effect of bullying victimization on reactive aggression, whereas the impact of this was greater when the level of negative urgency was high. The results suggest that reactive aggression among upper elementary school students could be effectively decreased by preventing bullying victimization, and reducing the level of victim justice sensitivity and negative urgency.

• The Journal of the Convergence on Culture Technology
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• v.9 no.3
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• pp.193-204
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• 2023

In recent years, the concept of influencer marketing has experienced rapid growth in both academia and industry, leading to its emergence as a crucial consideration in the marketing strategies of many businesses. Despite the significance and expansion of the influencer market, however, research on the topic has not kept pace with its growth. Thus, this study seeks to address this gap by empirically analyzing the impact of influencer characteristics on consumer behavior through the coexistence of buyers and providing an empirical contribution to expand the relevant literature. To accomplish this, a survey was conducted with a sample of 400 individuals who had purchased a product through an influencer, and 384 responses were ultimately utilized in the analysis. The results revealed that the attractiveness and empathy of influencers had a positive impact on satisfaction among coexisting buyers, while also having a negative impact on dissatisfaction. In contrast, expertise had no impact on satisfaction, but a positive impact on dissatisfaction. Moreover, satisfaction was found to have a positive impact on brand image and recommendation intention, whereas dissatisfaction had a negative impact on both. Overall, this study adds to the growing body of literature on influencer marketing by providing empirical evidence of the impact of influencer characteristics on consumer behavior, specifically through the lens of coexistence with buyers. These findings hold important implications for businesses looking to develop effective influencer marketing strategies that can enhance their brand image and recommendation intention among consumers.