• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.69-76
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• 2020

The study examines lagged economic effects of research and development (R&D) investment on the market value of manufacturing firms listed on the Shanghai Stock Exchange or the Shenzhen Stock Exchange in China. This study applies panel data analysis methods to address the following issues: 1) There might be an adjustment lag in the impact of R&D investment on corporate market value, and 2) Unobserved firm effects must be taken into account. The balanced panel data includes a total of 1,462 observations with 34 cross-sections of manufacturing firms listed on Chinese stock markets and with 27 time-specific quarterly periods from 2007 to 2017. The results indicate that the R&D investment of Chinese manufacturing firms tends to yield favorable market value of the firm with some adjustments to time. The results show that R&D investment exhibits a strong positive impact on their market value of manufacturing firms in Chinese stock markets. Moreover, R&D investment has a positive time-lag effect on the market value of the firm. Interestingly, the R&D investment of Chinese manufacturing firms generate a relatively constant positive effect on their market value, supporting the notion that the corresponding returns of R&D investment for such firms yield lagged but added market values.

• Journal of Korea Multimedia Society
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• v.24 no.9
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• pp.1299-1310
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• 2021

Under the background of the rapid development of digital educational games, we have to evidently research the elements of the achievement system of children's DEG (Digital Educational Game), and analyze the relations between the elements and make a profound study on the achievement system and its components on the impact of player's attitude. Compared with the existing research, the research contents and methods are innovative and reliable. The results show that players have a positive attitude towards the DEG achievement system, DEG achievement system has important value and role for educational games. Which is made of five elements: symbol, reward, logic, social interaction, and knowledge. The five elements interact with each other and have a positive impact on players' attitudes. DEG achievement system with five elements will bring players a positive experience. These findings provide a detailed study of the components of the achievement system. With all of these, we can explain the role and relationship of the components, and provide new ideas and empirical evidence for the design and development of children's educational game achievement system. The above findings provide a detailed description of the components of the DEG achievement system, explain the role and value of each component, and the relationships and patterns among the components, it provides a new perspective and empirical evidence for the design and development of the children's system DEG results.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.523-531
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• 2021

Vietnam's Oil and gas industry make a significant contribution to the Gross Domestic Product of Vietnam. The ongoing COVID-19 pandemic has hit every industry hard, but perhaps the one industry which has taken the biggest hit is the global oil and gas industry. The purpose of this article is to examine how the COVID-19 pandemic affects the share price of the Vietnam Oil and Gas industry. The event study method applied to Oil and Gas industry index data around three event days includes: (i) The date Vietnam recognized the first patient to be COVID-19 positive was January 23, 2020; (ii) The second outbreak of COVID-19 infection in the community began on March 6, 2020; (iii) The date (30/3/2020) when Vietnam announced the COVID-19 epidemic in the whole territory. This study found that the share price of the Vietnam Oil and Gas industry responded positively after the event (iii) which is manifested by the cumulative abnormal return of CAR (0; 3] = 3.8% and statistically significant at 5 %. In the study, event (ii) has the most negative and strong impact on Oil and Gas stock prices. Events (i) favor negative effects, events (iii) favor positive effects, but abnormal return change sign quickly from positive to negative after the event date and statistically significant shows the change on investors' psychology.

• Asia-Pacific Journal of Business
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• v.11 no.4
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• pp.121-134
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• 2020

Purpose - The purpose of this study is to investigate consumer's satisfaction with the attractiveness, reliability, and professionalism that are characteristics of social influencers, and to investigate the impact of influencer characteristics on consumers' continuous use intention through satisfaction. Design/methodology/approach - A total of 293 questionnaires on independent samples were used for this study. Collected data were analyzed by SPSS 26.0 and AMOS 24.0 program and frequency analysis, reliability analysis, confirmatory factor analysis, correlation analysis and structural equation model analysis were performed. Findings - The findings demonstrated the followings: First, the attractiveness, reliability and professionalism of influencer had a positive effect on satisfaction. Second, the attractiveness and reliability of influencer had a positive effect on continuous use intention. However, professionalism did not have a significant impact. Third, user satisfaction with social media (channel of influence) had a positive effect on continuous use intention. Research implications or Originality - In doing so, this study was able to provide an in-depth understanding of the key characteristics of influencers and their roles, and contributed to ongoing research by providing suggestions for future studies.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.855-863
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• 2021

This study explores the role of the Accounting Information System (AIS) in mediating the relationship between internal control and the performance of employees. This study examines whether internal control would influence the performance of employees and whether the AIS would impact the performance of employees in Jordan's industrial small and medium-sized enterprises (SMEs). Internal control is expected to impact employee performance. The survey questionnaire was used to gather data. A random sampling approach was used to survey the respondents. A total of 270 questionnaires were distributed; only 203, with a 75% response rate, were available. The data was analyzed using AMOS and SPSS. The result from the analyses provides support for the hypothesis that AIS mediates the relationship between internal control and the performance of the employee. Specifically, this study found evidence that internal control yielded a strong positive relationship with employee performance and a positive relationship with AIS. The study also found that AIS had a positive relationship with the performance of the employee. In brief, internal control has major effects on employee performance. Also, the AIS mediates the relationship between internal control and the performance of the employee. The result of this research found that in the relationship between internal control and employee performance, AIS plays an important role.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.6
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• pp.195-206
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• 2022

The purpose of this paper is to examine how loyalty programs designed by retail stores affect customer retention. The present study is one of the few empirical studies finding the role of different loyalty programs that help to build customer retention. The study also seeks to explore the moderation role of customer perceived value between intrinsic motivation - customer retention and extrinsic motivation - customer retention. The researchers employed a quantitative research design to collect data from the 350 respondents who purchased goods from the retail chain/departmental stores in Bangladesh. The collected data are then analyzed using structural equation modeling. The result of their findings indicated that the size of the organizational reward has a positive effect on intrinsic and extrinsic motivation; further extrinsic motivation has a significant relation to customer retention. Surprisingly, no support was found for the positive impact of intrinsic motivation on customer retention. Customer perceived value (CPV) is critical as a moderator in building client retention, which improves the positive association between extrinsic motivation and customer retention. CPV, on the other hand, was found to mitigate the negative link between intrinsic motivation and client retention.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.119-133
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• 2022

The purpose of this study is to examine how change recipients react to change (affective commitment to change) and how change leads to positive consequences (job satisfaction) in Revolution and Evolution, taking into account the change content (perceived change impact), change context (change climate), and change process (participation in the change process). The present study uses a deductive approach with an exploratory research design. Data was collected from 254 employees of the head offices of three major banks, who have gone through Revolution, and 354 employees of the head offices, three banks who have gone through Evolution in the last five years. The hypothesized model is tested and analyzed through structural equation modeling using SmartPLS. The findings revealed that, in the case of Revolution, the presence of the favorable context and process might revert the negative perception of the change and lead towards explicit positive reactions (affective commitment to change) and change consequences (job satisfaction). In the case of Evolution, the change can be more effectively implemented using favorable context and process by achieving explicit positive reactions (affective commitment to change) and change consequences (job satisfaction).

• Journal of the Korea Institute of Information Security & Cryptology
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• v.32 no.2
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• pp.355-370
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• 2022

This research investigates the impacts of information security (IS) culture and management leadership styles on employee's security behaviors (IS policies compliance, IS participation) in financial institutions. This study use the survey data collected from 236 employees of financial institutions. This research shows that IS culture has a positive effect on both behavioral intentions to comply with IS policies and the intentions to actively participate in information security activities. Transactional leadership has a positive impact on the IS policies compliance intentions and to participate in information security activities. In contrast, transformational leadership has a positive impact on the intentions to participate in information security activities, but not on the IS policies compliance intentions.

• Smart Media Journal
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• v.12 no.7
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• pp.84-92
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• 2023

This study tested the hypothesis through confirmatory factor analysis to confirm the relationship between Brand experiences (Deviant, Entertainment, and Aesthetic experiences) in Metaverse on Interest and Immersion, and to verify whether these Interests and Immersion have a significant impact on Recommendation intention. As a result of the study, it was confirmed that all Brand experience factors had a positive (+) effect on Interest and Immersion, Interest had a positive (+) effect on Immersion, and Interest and Immersion had a positive (+) effect on Recommendation intention.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.365-376
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• 2022

This study aims to look into the causal relationships between corporate social responsibility and firm value, corporate social responsibility and institutional ownership, and firm value and institutional ownership. This study develops a triangle model of causal relationships among the three endogenous variables. Samples for this study are manufacturing companies listed on the Indonesia Stock Exchange for the period 2014-2018. The model is operated in the system of simultaneous equation models using the generalized method of moments technique to estimate parameter coefficients. After controlling the effects of trade-off/balancing capital structure and managerial ownership, the research findings show a positive causal relationship between CSR and firm value and firm value and institutional ownership. Institutional ownership has a positive effect on CSR, while the effect of CSR on institutional ownership is negative in the firms without managerial ownership and positive in the firms with managerial ownership. This study finds that the causal relationship between CSR and firm value is stronger after the trade-off/balancing of capital structure is included in the model. Capital structure has a convex effect on firm value and positively impacts institutional ownership. In addition, an independent commissioner has a negative impact on CSR but has no direct impact on firm value.