• The Journal of Asian Finance, Economics and Business
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• 제7권7호
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• pp.251-260
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• 2020

The purpose of this paper is to investigate the impact of total factor productivity (TFP), institutional quality, and interactive variable between them on economic growth in 13 low-middle income countries in Asia for the period 2000-2018. The paper uses the difference Generalized Method of Moments (GMM) to explore the dataset provided by the World Bank. The empirical results show that TFP and the interactive variable positively impact on the economic growth, while the institutional determinants have a negative influence. The negative effect is explained by the weak institutions in these low-middle income countries. The findings of the study suggest two points. First, the government should continue to improve TFP, which is associated with the application of technical advances, technological innovations, improvement of management methods, and skilled workers. Second, far more important, is that the authorities should pay special attention to implement institutional reform and strengthen the governance in the future. The successful experiences from Japan, Korea and Singapore will help other governments in Asian low-middle income countries to build developmental state. Probably, the developmental state actively interfere in the market to promote and realize the development goals. By doing so, these economies might overcome the so-called "middle-income trap".

• 한국시스템다이내믹스연구
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• 제10권4호
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• pp.53-72
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• 2009

More than 24.43 million people received a special pardon to mark the anniversary of Liberation Day on Aug. 15 and to commemorate other national event, during 15years(1995-2009), in this period six times of presidential pardon was implemented. The special pardon allows traffic law violator to drive again with their violation records wiped clean. But traffic records show that traffic accidents used to increase very fast in a short period by up to 3-15 percent after implementing the every massive pardons. This study explores the causal feedback relationship between presidential special pardon for traffic law violators and the occurrence of an traffic accidents using a system thinking approach and simulation modelling. Particularly, this study focused on the analysing significant negative impact of the traffic pardon on the occurrence of worrisome traffic accidents. The results of this study show that presidential special pardon have had impact on the traffic accidents as a increasing leverage of positive feedback loop and the obedience of traffic law as a decreasing leverage of negative feedback loop. Finally, this study conclude that the cyclical increasing pattern of traffic accident is resulting from the periodically conducted presidential pardons with political aims.

• 한국구조물진단유지관리공학회 논문집
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• 제6권4호
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• pp.209-217
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• 2002

The effects on structures caused by the replacement of the bridge bearings are investigated in this study. The bearings of the bridge are seriously deteriorated because of the breakage of lower concrete and the corrosion of the bearing itself. Also, the negative reaction states are created at some bearings on the abutment. Then, the bridge has occurred excessive vibrations and severe noise and impact whenever heavy trucks pass the above joints. The existing bearings are replaced using the adjustable bearing. The height of the bearings is adjusted to minimize the level difference of above joint and also to induce the appropriate distribution of live loads The effects of replacing the bearings are investigated by measuring the behaviors of the bridge without and with replacing works. The results without replacing the bearing show that the distribution of displacements and stresses is distorted in comparison with the analytical results. Also the bridge without replacing the bearing shows that the impact and vibration from the heavy trucks are larger than those with replacing the bearing. Load carrying capacity of the bridge increase about 1.8 times through replacing the bearing. The above results show that the structural performance of the bridge is improved by replacing only bridge bearings.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.913-921
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• 2021

The objective of the study is to investigate the impact of the COVID-19 pandemic on Saudi Arabia stock market. The study relied on the data of the daily closing stock market price index Tadawul All Share Index (TASI), and the number of daily cases infected with COVID-19 during the period from March 15, 2020, to August 10, 2020. The study employs the Vector Auto-Regressive (VAR) model, the Impulse Response Function (IRF) and Autoregressive Conditional Heteroscedasticity (ARCH) models. The results of the correlation matrix and the Impulse Response Function (IRF) show that stock market returns responded negatively to the growth in COVID-19 infected cases during the pandemic. The results of ARCH model confirmed the negative impact of COVID-19 pandemic on KSA stock market returns. The results also showed that the negative market reaction was strong during the early days of the COVID-19 pandemic. The study concluded that stock market in KSA responded quickly to the COVID-19 pandemic; the response varies over time according to the stage of the pandemic. However, the Saudi government's response time and size of the stimulus package have played an important role in alleviating the impacts of the COVID-19 pandemic on Saudi Arabia Stock Market.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.885-896
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• 2021

The general role of commercial banks is to provide financial services to the general public and business, ensuring economic and social stability and sustainable growth of the economy. Commercial banks play an important role in mobilizing and channelizing funds for investment activities. This study analyzes the impact of the key financial variables on the net profit of the selected commercial banks in Oman. The study employs times series panel data - cross-sectional analysis of the key financials of five leading commercial banks for a period of 13 years from 2007 to 2019. The results reveal that the correlation matrix of the selected variables has a positive relationship with net profit, assets, deposits, loans, and interest income. However, the findings also shows a negative relationship between net profit and net loans to total deposits ratio. The study found net loans is the main independent variable that influences the profitability of the banks since the key source of revenue comes from the lending operations. The assets, total capital adequacy ratio have a mixed effect on the profitability of commercial banks. The total deposits and capital adequacy ratio have a negative effect on profitability mainly because excessive liquidity will increase the cost of capital and reduce the return on investment. Focusing on lending operations with a sound credit portfolio will improve profitability.

• Human Ecology Research
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• 제57권1호
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• pp.41-50
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• 2019

This study investigated the significant difference in the influences of pregnant couples' attachment representation for parents of origin on their psychological symptoms according to groups. One hundred and eighty two pregnant couples answered the questionnaire. Data were analyzed by means of frequency, percentages, t-test. Pearson's correlation using SPSS ver. 21.0 and multiple group structural equation modeling using AMOS ver. 20.0. The findings are as follows. First, there were significant differences in attachment representations according to parents of origin and psychological symptoms between pregnant women and spouses. Second, there were negative influences of attachment representations to parents of origin on psychological symptoms for both the pregnant women group and their spouses group, respectively. Last, the negative effects of attachment representation for parents of origin on their psychological symptoms according to groups were significantly different; consequently, the impact on the spouses group was stronger than the pregnant women group. The results imply that policies to help pregnant couples reduce psychological symptoms should be provided. In addition, the unexpected result on the weaker impact of pregnant women's attachment representation for parents of origin on their psychological symptoms suggests it is better to consider other factors simultaneously (such as a romantic attachment to spouses) that might provide a moderating role. The study results are meaningful because it is the first to apply a statistically advanced method to analyze pregnant women and spouses in relation to parents of origin on their psychological symptoms.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.917-928
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• 2021

This study is an empirical investigation of the effectiveness of guerrilla-marketing techniques in creating a positive brand image among generation Y (millennial) consumers. Five guerrilla techniques practiced by companies-such as viral marketing (EWOM), stealth marketing, ambush, graffiti, and clickbait ads-were studied, and hypotheses were proposed. This study adopted a quantitative approach and a questionnaire using the non-probability sampling technique was developed to collect data and self-administered to 248 millennial respondents on various university campuses. The data collected were analyzed through structured modeling on AMOS. The findings of this research revealed that guerrilla marketing affects symbolic and experiential brand image. Further, the results revealed that stealth marketing, graffiti, and click bait advertising were found to be influential on both symbolic and experiential brand images. As an exception, the hypotheses for ambush marketing were found to have no significant influence on the brand image (symbolic and experiential). Moreover, ambush technique in campaigns may have a negative impact on the brand image. Conversely, the study found that clickbait ads had a significantly negative influence on experiential brand image. Consequently, the results of this study strengthen past findings and concluded that guerrilla marketing techniques are beneficial communication tools in the limited marketing budgets.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.1-9
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• 2021

This paper investigates the impact of the domestic and global outbreak of the coronavirus (COVID-19) pandemic on the trading size of the Malaysian stock (MS) market. The theoretical model posits that stock markets are affected by their response to disasters and events that arise in the international or local environments, as well as to several financial factors such as stock volatility and spread bid-ask prices. Using daily time-series data from 27 January to 12 May 2020, this paper utilizes the traditional Augmented Dickey and Fuller (ADF) technique and Zivot and Andrews with structural break' procedures for a stationarity test analysis, while the autoregressive distributed lag (ARDL) method is applied according to the trading size of the MS market model. The analysis considered almost all 789 listed companies investing in the main stock market of Malaysia. The results confirmed our hypotheses that both the daily growth in the active domestic and global cases of coronavirus (COVID-19) has significant negative effects on the daily trading size of the stock market in Malaysia. Although the COVID-19 has a negative effect on the Malaysian stock market, the findings of this study suggest that the COVID-19 pandemic may have an asymmetric effect on the market.

• 아태비즈니스연구
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• 제11권2호
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• pp.45-60
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• 2020

Purpose - This study examines the impact of company ownership nature and of the dual role of CEO and board chair on R & D investment intensity, as well as the moderating effect of this dual role. Most previous research focused on the impact of the dual role of CEO and board chair on firm performance. Design/methodology/approach - This study uses A-share companies listed on the Shenzhen and Shanghai stock exchanges in China from 2008 to 2017. The univariate and the multivariate regression analysis were hired In order to analyze the data. Findings - The results show that there is a significant negative relationship between state-owned companies and R & D investment intensity. In addition, there is a significant positive relationship between the dual role and R & D investment intensity. The effect of state ownership on R & D investment intensity is more negative when CEO-board chair duality exists. This means that in case of state-owned companies, if CEO serves as the board chair, the propensity to invest in R&D is further reduced. Research implications or Originality - This is a pioneering study that considers the joint effect of state-owned companies and dual role on R & D investment intensity in the Chinese economy.

• The Journal of Asian Finance, Economics and Business
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• 제9권9호
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• pp.181-189
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• 2022

The current study examines the nexus between the capital structure (debt-equity) and firm value (Tobin's Q) by including profitability (alternatively Return on Assets (ROA) and Return on Equity (ROE)) as a moderator in the companies of Saudi Arabia. The study sample consists of 102 companies listed on Tadawul (the Saudi Arabian stock exchange) from different sectors of Saudi Arabia during the period 2013 to 2020. The study estimates pooled regression, panel regression with fixed and random effects, and dynamic panel regression models to report the results. The study results report that there is a negative and significant association between capital structure and firm value in model 1, while in models 2 and 3 there is a more negative and significant impact between the two study variables compared to model 1 after the inclusion of interaction variable, i.e. profitability in terms of ROA and ROE. The comparative result shows that the companies of Saudi Arabia hold more debt in their capital structure mix, hence evidencing a decrease in the firm value. The reported results also show that models 2 and 3 are better in explaining the impact of capital structure on firm value due to the interaction of profitability compared to model 1.