• International Area Studies Review
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• v.20 no.3
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• pp.123-144
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• 2016

This paper investigates the linkages between returns both in foreign exchange and stock markets, and uncertainties in two markets using daily data for the period of 16 July 2004 to 30 June 2014 in Nepalese economy. Four hypotheses are tested about how uncertainty influences the stock index and exchange rates. From the empirical results, a bivariate EGARCH-M model is the best to explain the volatility in the two markets. There is a negative relationship from the exchange rates return to stock price return. Empirical results do provide strong empirical confirmation that negative effect of stock index uncertainty and positive effect of exchange rates uncertainty on average stock index. GARCH-in-mean variables in AR modeling are significant and shows that there is positive effect of exchange rates uncertainty and negative effect of stock index uncertainty on average exchange rates. Stock index shocks have longer lived effects on uncertainty in the stock market than exchange rates shock have on uncertainly in the foreign exchange market. The effect of the last period's shock, volatility is more sensitive to its own lagged values.

• The Journal of Economics, Marketing and Management
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• v.12 no.3
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• pp.1-12
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• 2024

Purpose: As a major economy attracting foreign investment, China is currently facing significant international economic pressure due to the appreciation of the RMB. Additionally, China is at a critical period of socio-economic development, where foreign direct investment (FDI) plays an indispensable role in stabilizing economic growth, adjusting industrial structure, and promoting economic transformation. Research design, data and methodology: This paper focuses on the relationship between RMB exchange rate expectations and FDI. It examines the magnitude of their relationship through empirical research using cointegration tests, Granger causality tests, and BVAR (Bayesian Vector Autoregression) analysis. Results: The comprehensive study of the empirical results in this paper concludes that there is a long-term cointegrated relationship between China's RMB exchange rate expectations and foreign direct investment, indicating that their relationship is stable in the long run. It is also found that RMB exchange rate expectations have a significantly positive impact in the short term, but this impact is not significant in the long term. Conclusions: The paper also considers the possibility of establishing a China-EU Free Trade Area in the future and offers policy recommendations regarding RMB exchange rate expectations and foreign direct investment.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.115-128
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• 2019

The study aims to investigate the pattern of relationships such as symmetric or asymmetric, between exchange rate and foreign direct investment in Bangladesh by applying Autoregressive Distributed Lagged (ARDL) and nonlinear ARDL. In this study, we employed quarterly data for the period of 1974Q1 to 2016Q4. Data were collected and aggregated from various sources namely, Bangladesh Economic Review published by Ministry of Finance and statistical yearbook published by Bangladesh Bureau of Statistics and an annual report published by Bangladesh Bank. The relationship between exchange rate and FDI inflows attract immense interest in the recent periods, especially for developing countries' perspective. The results of the study ascertain the long run relationship between FDI, exchange rate, monetary policy, and fiscal policy. Considering the asymmetric assumption, the findings from NARDL confirm the existence of a long-run asymmetric relationship in the empirical equation. In the long run, it is observed that positive change that is the appreciation of exchange rate against USD decrease FDI inflows and negative shocks results in grater inflows of FDI, however, the positive shocks produce higher intensity that negative shocks in Exchange rate. For directional causality, the coefficients of error correction term confirm long-run causality, in particular, bidirectional causality unveiled between FDI and exchange rate.

• The Korean Journal of Community Living Science
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• v.27 no.3
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• pp.387-403
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• 2016

This study explored the relationships between unmarried adult children and their coresident parents with a focus on the role of intergenerational exchanges and family values affecting parent-child relations. A total of 767 unmarried adult children who lived with their parents were selected from the data of the third National Korean Family Survey in 2015. The main findings were that coresident adult children exchange diverse resources with their parents and that exchange patterns whether receiving more or giving more differed depending on the helping dimensions. 'Receiving' type was more prominent in the dimension of practical help, while, 'receiving and giving' type was more noticeable in the dimension of emotional help. Findings also suggest that intergenerational exchange and family values contribute to parent-child relationship quality. While being an active provider of practical help is positively associated with relationship quality, being a recipient of emotional help is related to a higher level of relationship quality compared to being indifferent. In addition, a stronger value of family responsibility was associated with a higher level of relationship quality. These findings indicate that the importance of the practical and emotional component in the relationships between unmarried adult children and their co-resident parents and reciprocal intergenerational exchange and strong family values may be contributory factors to better parent-child relationships.

• The Journal of Asian Finance, Economics and Business
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• v.1 no.1
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• pp.5-14
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• 2014

This paper empirically examines the short-run and long-run causal relationship between stock market prices and exchange rates in Chinese stock markets using monthly data from January 2002 to December 2012 retrieved from the National Bureau of Statistics of the People's Republic of China. Unit root, cointegration tests, vector error correction estimates, block exogeneity Wald tests, impulse responses, variance decomposition techniques and structural break tests are employed. This study found 1) long-run causality from exchange rates to stock prices in Chinese stock markets and 2) short-run causality from Japanese yen and Korean won exchange rates to stock prices in the Shanghai Stock Exchange strongly prevails while in the Shenzhen Stock Exchange weakly prevails. The impact of the global financial crisis from 2007 to 2009 on Chinese stock markets was insignificant.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.41-49
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• 2020

This study investigates the short-run and long-run causal behavior of the Philippine stock market index volatility under vector error correction environment. The variables were tested first for stationarity and then long-run equilibrium relationship. Moreover, an impulse response function was estimated to examine the extent of innovations in the independent variables in explaining the Philippine stock market index volatility. The results reveal that the volatility of the Philippine stock market index exhibit long-run equilibrium relationship with Peso-Dollar exchange rate, London Interbank Offered Rate, and crude oil prices. The short-run dynamics-based VECM estimates indicate that in the short-run, increases (i.e., depreciation) in Peso-Dollar exchange rate cause PSEI volatility to increase. As for the London Interbank Offered Rate, it causes increases in PSEI volatility in the short-run. The adjustment coefficients used with the long-run dynamics validates the presence of unidirectional causal long-run relationship from Peso-Dollar exchange rate, London Interbank Offered Rate, and crude oil prices to PSEI volatility, and bidirectional causal long-run relationship between PSEI volatility and London Interbank Offered Rate. The impulse response functions developed within the VECM framework demonstrate the positive and negative reactions of PSEI volatility to unanticipated Peso-Dollar exchange rate, London Interbank Offered Rate, and crude oil price shocks.

• Korea journal of population studies
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• v.25 no.1
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• pp.83-111
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• 2002

This study examines the structure of intergenerational relationship and its effects on old-age security of the Korean society. Of interest is the effects of the middle aged's attitudes on old parents'security on their intergenerational exchange relationship and on their own old-age security as well. This study also attempts to test the applicability of the social exchange perspective to the study of intergenerational support relationship in Korea The social exchange perspective considers intergenerational relationship as an exchange of aids and rewards between generations. However due to strong norm of filial duty and inadequate welfare system, supporting old parents is regarded as younger generation's duty in Korea This study utilizes a survey data conducted by Kim et al.(2000). Major findings can be summarized as follows. First, the middle aged who gives one-sided supports to their parents tends to have the traditional attitude on old parents' security. It implies that intergenerational support relationship in Korea is not consistent with the explanations from the social exchange perspective. This study suggests a 'chained reward system'as an altermative explaining the intergenerational relationship. Second, an absolute majority of the middle aged tend to think that they are responsible for their own old-age security regardless of the pattern of intergenerational support relationship and attitudes on old parents' security. It implies that the middle aged in Korea holds the status of 'marginal men' who supports their parents but can't take the similar supports from their children.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.95-107
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• 2020

The study investigates the asymmetric effect of exchange rate changes on stock prices in Vietnam. We use the nonlinear autoregressive-distributed lag (ARDL) analysis for monthly data from 2001:01 to 2018:05, based on VN-Index stock price collected from Ho Chi Minh Stock Exchange (HOSE); the nominal exchange rate is separated into currency depreciation and appreciation through a partial sum decomposition process. Asymmetry is estimated both in the long-run relationship and the short-run error correction mechanism. The research results show that the effect of exchange rate changes on stock prices is asymmetrical, both in the short run and in long run. Accordingly, the stock prices react to different levels to depreciation and appreciation. However, the currency appreciation affects a stronger transmission of stock prices when compared to the long-run currency depreciation. In the absence of asymmetry, the exchange rate only has a short-run impact on stock prices. This implies a symmetrical assumption that underestimates the impact of exchange rate changes on stock prices in Vietnam. This study points to an important implication for regulators in Vietnam. They should consider the relationship between exchange rate changes and stock prices in both the long run and the short run to manage the stock and foreign exchange market.

• Knowledge Management Research
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• v.17 no.4
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• pp.147-162
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• 2016

Knowledge sharing has many benefits; however, employees are generally reluctant to share their knowledge with co-workers. This reluctance can be attributed to the facts that sharing knowledge involves the threat of losing personal competitiveness and the codification of knowledge for sharing requires additional effort. This study explains why employees engage in knowledge sharing despite the threat and cost of sharing knowledge. Specifically, it examines the effects of the quality of co-worker exchange (CWX) on knowledge sharing and the moderating effect of learning goal orientation on the relationship between CWX and knowledge sharing. Data from 186 individuals indicate that there is a positive relationship between CWX and knowledge sharing, and that this relationship is strengthened when learning goal orientation is low rather than when it is high. The theoretical and practical implications of the findings are also discussed.

• International Commerce and Information Review
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• v.10 no.1
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• pp.237-256
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• 2008

In recent years, most of Supply Chain Management literature has emphasized the importance of information sharing among supply chain partners, but empirical researches are few until now, especially in Korea. The purpose of this study is to develop an empirical model focusing on information exchange among partners in supply chain, and to analyze the main factors influencing the causal relationship between information exchange and performance. Based on cross-sectional questionnaire survey on Korean manufacturing firms, this study analyzed the factors influencing information exchange such as environmental factors, organizational factors, relationship factors, and information characteristics of the sample firms. Our major findings might provide many useful insights for managers in exploring the most efficient system for information exchange among partners in the context of SCM.