• The Journal of Asian Finance, Economics and Business
• /
• 제9권2호
• /
• pp.133-140
• /
• 2022

The impact of State management factors on transfer pricing activities of foreign direct investment enterprises in Vietnam is examined in this study. This adds to the empirical evidence on factors affecting transfer pricing activities of foreign-invested enterprises in Vietnam. A questionnaire survey of officials directly involved in the inspection of transfer pricing activities is used as the research method. The study yielded 226 questionnaires. The author chose 210 questionnaires after deleting those that were ineligible due to a large number of blank cells. The following procedures are used to process the data from the satisfied votes: Cronbach's Alpha test to measure the reliability of the scale; Exploratory factor analysis to break down data into smaller sets of variables to discover the underlying structure; Descriptive analysis to describe the underlying quantitative features of the data; Correlation and regression analysis to evaluate the relationship between variables with the support of SPSS 25 software. Inspection pressure, professional inspector qualifications, and inspector role, State control organization, inspector professionalism, legal corridor on transfer pricing control, macroeconomic situation, and investment environment have a positive impact on state management on transfer price operations, according to research findings. The author has provided solutions to increase the efficiency of State management on transfer pricing operations of foreign-invested businesses in Vietnam based on the research findings.

• The Journal of Asian Finance, Economics and Business
• /
• 제10권1호
• /
• pp.189-199
• /
• 2023

This research aims to give information about the current situation of five financial sources for climate change in Vietnam, including (i) the State budget used by ministries; (ii) the State budget used by provinces; (iii) Bilateral funds; (iv) Multilateral funds; and (v) Private funds, and then classify them in line with the effectiveness. The working paper's secondary data on spending on CC-related activities, collected from reports of six ministries and 29 provinces, show that the State budget has been crucial in subsidizing CC-related activities in Vietnam. Moreover, domestic investment has accounted for a major part of the total expenditure of ministries and provinces for climate change. In addition, by using primary data collected from surveys sent to twelve experts from 5 groups, such as researchers, practical experts, managers of private funding organizations (such as banks and enterprises), managers of international funding organizations and beneficiaries, and then analyzing the data through the AHP method, the study shows that all climate finance sources in Vietnam are still not very effective. However, private sector funds are considered the most effective financial source for responding to climate change.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권10호
• /
• pp.1071-1080
• /
• 2020

This study aims to explore the critical success factors of the Water Public-Private Partnership (PPP) Projects in developing country with evidence from Indonesia. We all know that water is a basic need and therefore it becomes very important for the governments especially in the developing countries to develop and formulate a comprehensive water policy to deliver and manage the water services in the most appropriate manner as well tackle several challenges such as budget and project efficiency. In this context, PPP is a promising scheme to address the water problems, hence it becomes important to reveal the success factors of water PPP projects. An Analytic Hierarchy Process (AHP) questionnaire built from delphi methods is used to capture the perception of the relevant stakeholders in relation to the success factors. The results of this study show the most critical success factors in PPP water projects is the support and acceptance of the stakeholders from the community, whereas the private and public entities are the the second and third important factors. These findings contribute to the success of the PPP stakeholders by enhancing the policy-making decision process and by executing the water policies to support the development of PPP in the Water Sector.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권3호
• /
• pp.655-664
• /
• 2021

The purpose of this research paper is to overcome the impact the COVID-19 in Indonesia, the Government of the Republic of Indonesia has set Perpu No.1 of 2020 concerning State Financial Policies and Financial System Stability for Handling COVID-19 Pandemic. This paper uses a descriptive analysis method with a normative juridical approach, namely by explaining the politics of law in the stipulation of Perpu No. 1 of 2020 into Law, then analyzing its effect on the character of legal products contained in the Act. The data sources used in this paper are the 1945 Constitution of the Republic of Indonesia, Perpu Number 1 of 2020 which has been ratified into Law Number 2 of 2020, Legislation in the field of state finance, literature books, and several articles from print and electronic media. This paper concludes that the legal politics of establishing Perpu No.1 of 2020 into Act was born from a democratic political system and configuration, but the character of its legal products was conservative. The aim of the paper is to focus on the discussions related to the new regulations that have been made by the Indonesian government and analyse the impact resulting from the enactment of these regulations.

• 의정연구
• /
• 제15권1호
• /
• pp.237-260
• /
• 2009

본 연구는 민주주의 및 정당담론의 변화가 실질적인 정치자금제도의 변동을 유도하여 왔으며 이를 통해 다시금 전체적인 민주주의담론의 변화와 정치체계의 체제정합성 확대에 영향을 미쳐왔는가라는 문제를 제기한다. 독일의 정치자금 구조와 국고보조금 제도는 60년대부터 90년대 후반에 이르는 긴 논쟁과 갈등과정을 동반하며 형성되어 왔다. 국고보조금 도입 초기 이에 대한 비판여론은 극심하였던 것으로 보이며 독일 정당들은 이후 수십여 년 간 정당의 헌법적 지위를 현실화하기 위한 담론형성을 주도하여 왔다. 국고보조금제도는 여러 차례의 헌법재판소 판결과 정당 간의 치열한 논쟁을 동반하며 약 세 차례 근본적인 변동을 겪어 왔다. 그리고 이 변화 과정은 "의회민주주의체제 하에 국가와 사회를 매개하는 필수불가결한 제도로서의 정당"이라는 헌법해석이 어떻게 의회와 헌법재판소를 서서히 장악해왔는가를 보여준다.

• 무역상무연구
• /
• 제75권
• /
• pp.117-136
• /
• 2017

Trade finance services have been played an important role in the Korea trade development history since 1960's. These days the trade environment is confronted by the 4th Industrial revolution and new trade protectionism. So we need to improve the Korea Trade Finance Services in order to improve Korea trade volume. Bank of Korea(BOK) also revised the Rule of Korea Trade Finance in 2014 and enlarged the trade fund for commercial banks where they handle the trade finance to small and medium enterprises(SME) in 2016. This article handle the current state and problems of Korea trade finance services and suggest the improvement measures as follows; First, the commercial banks, which handle trade finance fund, should improve the customs and practice of judge loan for SMEs. Second, the export volume counting rule for trade loan should harmonize between BOK's Rule and Foreign Trade Management Regulation under the Foreign Trade Act. Third, the processing trade and intermediate trade also can use the trade finance like other trade. Fourth, Trade finance should be in balance between export and import finance to defend the new protectionism. It means that the trade finance should expand to import in the certain conditions. Lastly, the related trade promotion agencies and their employees should improve their skills and abilities for handling trade finance.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권2호
• /
• pp.973-979
• /
• 2021

The purpose of this paper is to examine the effect of tax planning on firm value of the non-financial firms listed in Vietnam, moderated by the state ownership. In this paper, effective tax rate is used to measure the tax planning; the state ownership is measured by the percentage of state equity holdings, and the firm value is measured by Tobin's Q. The data research is collected from audited financial statements and other statistical documents of 513 firms in the period of 2015-2019, provided by The FiinGroup (Vietnam). According to that, this paper uses quantitative research methods for the panel data. Regression analysis with GLS shows that the tax planning has a negative effect on firm value. In more detail, the association is not a variable in its direction when state ownership takes the role of a moderator. That means, in the perspective of principal-principal conflict, government should improve institutional environment to prevent firms form breaking the rules, especially accounting standards and principles. Assets allocation in tangible assets or making use of large size advantage should be taken into account. In the long run, firms should concentrate on the deployment of resources and the experience of knowledgeable practitioners to produce effective results.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권9호
• /
• pp.11-18
• /
• 2020

This paper analyzes factors affecting enterprise's financial risk listed on the Vietnam stock market. The panel data of research sample includes 524 non-financial listed enterprises on the Vietnam stock market for a period of eleven years, from 2009 to 2019. The Generalized Least Square (GLS) is employed to address econometric issues and to improve the accuracy of the regression coefficients. In this research, financial risk is measured by the Alexander Bathory model. Debt structure, Solvency, Profitability, Operational ability, Capital structure are independent variables in the study. Firm Size, firm age, growth rate are control variables. The model results show that in order to prevent and limit financial risk for enterprises listed on the Vietnam Stock Market, attention should be paid to variables reflecting Liability structure ratio, Quick Ratio, Return on Assets, Total asset turnover, Accounts receivable turnover, Net assets ratio and Fixed assets ratio. The empirical results show that there are differences in the impact of these factors on the financial risk in state-owned enterprises and non-state enterprises listed on the Vietnam stock market. The findings of this article are useful for business administrators, helping business managers make the right financial decisions to improve the efficiency of financial risk management in enterprises.

• 국제학술발표논문집
• /
• The 3th International Conference on Construction Engineering and Project Management
• /
• pp.962-969
• /
• 2009

The market of building construction has been competitive in Hong Kong, perhaps as anywhere else in the world. The barrier to entry is low because there are relatively low requirements on the three factors of production - technology, manpower and finance. The prevailing building technology is traditional and labour-intensive. There is also not much need of capital because clients' periodic payments have been the main source of project finance. Further, capitalizing on trade sub-contracting, contractors have been able to keep their direct labour-force small and to transfer much of their business risk to the sub-contractors. Based on interviews to solicit the perception of a sample of building contractors on the particular issues of construction finance, we present the findings in this paper and discuss the various implications. We believe that the current practice of construction financing is both the cause and effect of the competition within, and the competitiveness of, the building construction sector in Hong Kong. We conclude that the building construction sector is "locked or stuck" in this "equilibrium" of traditional technology, reliance on clients' finance and exploitation of sub-contracting. In this "equilibrium" state, there is hardly any motivation for contractors to engage themselves in product or process innovation. Consequently, any talk of industry reform or innovation could only remain just that. We believe that this problem is not unique in Hong Kong. The building construction sector in many other developed and developing economies is posed with similar if not the same problems and constraints. We conclude that there has to be some "external forces" to bring this "equilibrium" state to a higher level "equilibrium" one where higher value-added building construction services are supplied and demanded. This is a state where building contractors possessing innovative technology, better financial and manpower resources could thrive to build better buildings with innovative building methods and processes.

• International Journal of Computer Science & Network Security
• /
• 제22권9호
• /
• pp.369-375
• /
• 2022

The article substantiates the need and shows the features of introducing SMART management into the system of public management of regional development in the context of strengthening the national security of Ukraine. Disclosed are such provisions as: goal-setting; state mission; state mission in Ukraine; goals of the Ukrainian state; strategic management priorities in Ukraine. Differences between the purpose of the organization and the purpose of the state are determined. The characteristic of the goal at the state level is given. The management standards in SMART management are characterized. The issues of the exhaustibility of existing SMART criteria are reviewed and it is proposed to supplement them with two such as: inspiration (inspiration) and ity (ethics). Two main principles are defined (evaluated (assessment), reviewed (review)), which must be observed when introducing SMART management into the system of public management of regional development in the context of strengthening the national security of Ukraine.