• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.75-81
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• 2020

This study aims to empirically test the effect of liquidity and adequacy on bank performance through interest rate risk and credit risk. Capital adequacy and liquidity are variables that can affect the ups and downs of opinion, where the bank's performance in this study is the dependent variable. Good credit distribution can minimize the occurrence of defaults. This study uses banking companies in Indonesia that are listed on the Indonesian stock exchange, with a total number of 43 banking companies, this study however, uses only 30 companies ranging from years 2014 to 2019, primarily due to the availability of the limited data. The data analysis techniques used in this study is PLS-SEM with the WarpPLS application. The research results show that capital adequacy and liquidity has a positive effect on bank performance, interest rate risk and credit risk can mediate capital adequacy on bank performance, interest rate risk can mediate liquidity on bank performance, and interest rate risk has a positive effect on bank performance. However, credit risk can't mediate liquidity on bank performance and credit risk does not have a positive effect on bank performance. This is in line with the commercial loan theory, shiftability theory and the doctrine of anticipated income, which explains how best to give credit, both in longer and the shorter term.

• The Journal of Industrial Distribution & Business
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• v.12 no.11
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• pp.9-16
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• 2021

Purpose: Carbon emissions have now become a major concern around the world, especially for the government and private sector. Unfortunately, in Indonesia, disclosure related to company carbon emissions is still done voluntarily. This research aims to provide empirical evidence on the effect of environmental performance, carbon emission disclosure, and carbon emission intensity on the cost of equity capital. Research design, data, and methodology: This research uses secondary data with a sample consisting of Indonesia companies that are sensitive to the environment and listed on the Indonesia Stock Exchange in 2017-2019. The analytical tool used in this research was multiple regression models. Result: The study found a carbon emission disclosure had a significant positive effect on the cost of equity capital. Carbon emission intensity and company size had a significant negative effect on the cost of equity capital. Meanwhile, environmental performance did not have a significant effect on the cost of equity capital. Conclusion: Therefore, the results of this research are expected to provide feedback to the company's stakeholders that environmental performance and carbon emissions are some of the points seen by investors in making investment decisions.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.893-902
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• 2021

The paper examines the impact of corporate governance (CG), on dividend policy (DP) of enterprises in Vietnam. The paper studies the impact of CG on DP of businesses listed on Vietnam's stock exchange in the period 2008-2018 with 2,937 observations. The data of these companies is collected from the financial statements of businesses and Vietstock data sets, as well as aggregated from the data published on some reputable securities websites. The study used GLS regression method for data collected at listed companies in Vietnam in the period of 2008-2018. The research results have found that CG, the chairman of the board of directors (BOD), and the managing director have a negative effect on the DP. Specifically, companies with strong BODs tend to pay low dividends. At the same time, research shows that factors such as profitability, financial leverage, firm size, and investment opportunities affect DP. This result underscores the importance of corporate governance (both internal and external) to the income distribution decision and provides policy implications for investors and company executives. The study finds solid evidence that alternative theory explains better the relationship between corporate governance and dividend policy. Accordingly, companies with weak corporate governance will pay more dividends.

• The Journal of Industrial Distribution & Business
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• v.13 no.12
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• pp.23-31
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• 2022

Purpose: This research is to answer the following research questions because of the importance of learning how retired businesspeople increase their financial security and quality of life. (1) how does an entrepreneur contribute to economic development? (2) what types of investments are performed by businesspeople after retirement? (3) how entrepreneurial financial attainment capacity and anticipated net income after retirement are related? Research design, data and methodology: This research has conducted the qualitative analysis (QCA) using the current literature review. In the traditional positivist research paradigm, the quality of research is evaluated based on issues of validity, reliability, and objectivity. Contrary to the positivist approach, QCA focuses on the underlying meaning of the data. Results: This research found that finance management is increasingly challenging for businesspeople. The solutions based on the literature investigation suggest four categories. (1) Planned spending and revenue allocation, (2) Investing in the stock market, (3) Create a culture of saving, (4) Get Informed. Conclusions: This research puts forth a model to describe the connection between an investor's financial achievement potential and their desired net profits in retirement. The results of this study support the idea that the ability to achieve financial success as an entrepreneur has a salutary effect on the amount of money saved for retirement.

• The Journal of Industrial Distribution & Business
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• v.13 no.2
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• pp.45-57
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• 2022

Purpose: This paper examines whether or not universal banking operating in the asset management business tend to IPO underpricing when they are hosting IPOs in favor of their private interests. Previous studies suggest evidence which indicates that the universal banking operating in the asset management business tend to underestimate offering prices. This paper compares and analyzes the data before and after June 2007 to examine the influence of put-back option on IPO underpricing. Research design, data, and methodology: This paper compares the underwritten prices of IPOs of universal banking with and without asset management business in Korea in order to test such tendency actually exists. Result: We can find that such tendency is not correlated with first-day stock returns but correlated with put-back options. Our paper concludes that the hypothesis that "the universal banking's subsidiary asset management business influences the IPO underpricing" is found to be statistically insignificant. Conclusion: According to our analysis, it cannot be concluded that the interests of operating asset management do not conflict with the ones of underwriting business. However, it is so possible that the asset management companies try to harm the customers' interests, for instances churning and stuffing, it is necessary to scrutinize their behaviors and review the related regulations.

• The Journal of Asian Finance, Economics and Business
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• v.10 no.2
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• pp.135-143
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• 2023

This study seeks to ascertain whether publicly listed Jordanian corporations (listed on the Amman Stock Exchange (ASE)) exhibit accounting conservatism and whether such companies distribute dividends to stockholders. Furthermore, this study delves into the implications of accounting conservatism on dividend policy in the context of the quality of financial statements of publicly listed Jordanian companies listed on the ASE. To accomplish the aims of this study, the Quality of financial reporting is treated as a moderator for the relationship between accounting conservatism and dividend distribution. Hence, a panel data approach was utilized, which encompasses cross-sectional data for 95 industrial and service establishments for the period (2013-2017). The study found that accounting conservatism has a negative impact on dividends and that there is no difference in the impact of accounting conservatism on dividends based on the quality of financial reports. The study concluded with a number of recommendations, the most salient of which is the need for companies to enhance their concentration on accounting conservatism and adopt a suitable policy for dividends. Thus, this research provides an insights into the financial practices of Jordanian publicly listed corporations and highlights the need for a more informed decision-making process concerning dividends and accounting practices.

• The Journal of Industrial Distribution & Business
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• v.13 no.1
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• pp.23-32
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• 2022

Purpose: This study used ESG grade, but defined AESG, adjusted to the size of a company and examines whether it can be used as an investment strategy. Research design, data and methodology: The analysis sample in this study is a company that has given an ESG rating among companies listed on the Korea Stock Exchange. We examine the results through portfolio analysis and Fama-macbeth regression analysis. Results: As result of examining the long-only performance and the long-short performance by constructing quintile portfolios, it was observed that a significant positive return was shown. It was observed that there was an alpha that could not be explained in asset pricing models. Also, AESG had a return prediction effect in the result of a Fama-Macbeth regression that controlled corporate characteristic variables in individual stocks. Next, we confirmed AESG's usage through various portfolio composition. In the portfolio optimization, the Risk Efficient method was the most superior in terms of sharpe ratio and the construct multi-factor model with Value, Momentum and Low Vol showed statistically significant performance improvement. Conclusions: The results of this study suggest that it can be helpful in ESG investment to reflect the ESG rating of relatively small companies more through the scale adjustment of the ESG rating (i.e.AESG).

• Journal of Korean Society of Forest Science
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• v.32 no.1
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• pp.1-8
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• 1976

One of the most common needle leaf species used in planting in Korea is korean pine (Pinus koraiensis S. et Z.), and jack pine (Pinus banksiana Lamb.) is one of the test species for suitability. The relation of nursery bed density of 2-1 korean pine and 1-1 jack pine was studied at the Kwang Nung Nursery, Central Branch Station of Forest Research Institute, and about 40km north of Seoul. Nursery bed density of 2-1 korean pine, which ranged from 36 to 324 trees per square meters and of 1-1 jack pine, which ranged from 25 to 169 trees per square meters, had a marked effect on caliper, height, dry weight and percent and amount of plantable stock. The soil physical and chemical properties is silt plus clay, 50.55 percent; organic matter, 2.09 percent; total nitrogen, 0.13 percent; available phosphorus, 253.25 ppm; exchangeable potash, 0.46 m.e/100g; and pH, 5.58. As the density of the nursery seedling stand of 2-1 korean pine increases, the average tree height increases (Fig. 1A), but in 1-1 jack pine density do not affect to increase or decrease the average tree height. As the density of nursery bed increases, the average stem caliper (at 2cm above ground line) and dry weight decrease (Fig. 1B), but the decreasing rate is more seriously in 1-1 jack pine than 2-1 korean pine (Fig.5). As increasing the density of nursery bed, the T/R ratio of trees of the test species increase. Also the dry weight of leaf, stem and root parts are decreasing in proportion to the increase of stand density, but the drop rate of jack pine is more rapid than korean pine (table. 1) The patent facts of difference of growth characteristics between 2-1 korean pine and 1-1 jack pine were studied. These facts should be used to select the scale of stand density at the nursery bed or the plantable site. Korean pine is demanded high density, on the other hand in jack pine low density are more suitable to manage the stand density. Stands of comparatively low density had the greatest percentage of high-quality stock, and the stands of high density had less than the high quality trees of low density. An important criterion of the best density is percent and number of high-quality trees produced per square meter of bed area. Stem caliper and stem height of seedling is used in most public nurseries to sort seedling into plantable grades. The stock grade standard has set at 4.5mm caliper and 16cm height of 2-1 korean pine as the minimum desired stem caliper and height. By the result studies, the plantable stock grade standards of 2-1 korean pine used at stem height 16cm and stem caliper 4.5mm from public nurseries should be reformed to stem height 18cm and stem caliper 4.0mm by the growth characteristics and the tree distribution of stem height and caliper of relation to density. For the 2-1 korean pine, best density should be about 160 to 200 trees per square meter according to soil fertility. For the 1-1 jack pine, the suitable standard of plantable stock should be at stem height 25cm and caliper 6mm (at 2cm above ground line) and best density was about 100 to 120 trees.

• The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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• v.12 no.2
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• pp.112-120
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• 2007

This paper reviews the use of parasites as 'biological tags' for studying stock analysis of salmonid fishes. Numerous definitions of stock concepts exist, but most of them essentially define a group of fish as having similar biological characteristics and being self-reproducing as stocks. It is important to manage fish stocks for human consumption and sustainable production and especially for salmonid fishes. Because these fry are considered as each country's property, it is necessary to identify and discriminate each fish stock in the open sea. Methods of separating fish stocks are very diverse. Artificial tags, parasites, otoliths scales and genetic characters have been used for stock analysis and each method has advantages and disadvantages. Of these parasites can be good biological tags because they are applied by nature at no cost. Parasites can be infected with susceptible host fishes when they enter into certain areas. Then if they move to the outside and are caught researchers can infer that the fish had been in the endemic area for a period of time during their life. Hence the host fish can be considered as naturally 'tagged' by parasites. However, if they do not pass the parasites-endemic. area, they will harbour no parasites. Therefore, researchers can discriminate each fish stocks and trace their migration routes with these biological tags. In this paper, several examples on the use of parasites as biological tags for studying salmonids, as well as other species, are listed. The advantages and limitations of parasites as biological tags are also discussed. Chum salmon (Oncorhynchus keta), the main salmonid species migrating to Korea, is distributed all around the North Pacific. Korean chum salmon are generally thought to move to the Sea of Okhotsk, the western North Pacific and the Bering Sea. However, there is no clear information on the distribution and migration pathways of Korean chum salmon, and no markers exist for separating them from others yet. Recent Korean chum salmon stock analysis including parasites information are mentioned.

• The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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• v.8 no.3
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• pp.243-250
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• 2003

The spatio-temporal distribution of zooplankton community was investigated in Kyeonggi Bay with monthly samples from February 2001 to December 2001 at 5 stations along a transect between Incheon coastal waters and Seongap-Do. Monthly mean abundance of total zooplankton ranged from 1,100(Feb.)∼404,200 indiv./㎥ (Aug.) and annual mean abundance of total zooplankton was 55,000 indiv./㎥. The spatial mean abundance of total zooplankton varied from 114,600 indiv./㎥ (Incheon coastal waters) to 16,500 indiv./㎥ (Seongab-Do). Zooplankton abundance was higher in the inner bay than in the outer bay. Noctiluca scintillans, Acartia hongi, Oithona davisae, Paracalanus crassirostris, Paracalanus indicus and Oikopluera spp. were dominant species in Kyeonggi Bay and they contributed 95％ of annual mean abundance of total zooplankton. Most of dominant species distributed widely in study area throughout the year, however seasonal abundance peak only happened in inner part of the Bay. This pattern suggests that the spatio-temporal distribution of zooplankton is affected by the variations of water temperature and phytoplankton standing stock.