• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.165-176
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• 2021

The paper has used the Solow-Swan growth model to analyze the long-term impact of credit market development and stock market development on economic growth in Asia from 2000 to 2019. The empirical model is performed with panel cointegration analysis by Common Correlated Effects (CCE) method with cross-sectional dependencies. The results find that there exists a cointegration relationship among stock market, credit market development, and economic growth. These results also show that financial structure improves the exact impact of financial development on economic growth, namely the opposite effect of stock market development and credit market development. Moreover, the Granger causality test reveals a bi-directional relationship between credit market development and economic growth, while only unidirectional causality from stock market development to economic growth for the whole group panel. And it is different for a specific country, according to Kónya's test. The view of the new structuralism does not apply in the Asian financial system when we estimate the Nonlinear Autoregressive Distributed Lag model (NARDL) to analyze the asymmetric relationship between financial structure and economic growth. On the whole, policymakers can draw on the findings to provide policy implications to improve their country's financial system as well as pursue the goal of sustainable economic growth.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.219-228
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• 2020

The study investigates the impact of inflation rate on economic growth to find the best-fit model for economic growth in Vietnam. The study applied Vector Autoregressive (VAR), cointegration models, and unit root test for the time-series data from 1996 to 2018 to test the inflation impact on the economic growth in the short and long term. The study showed that the two variables are stationary at lag first difference I(1) with 1%, 5% and 10%; trace test indicates two cointegrating equations at the 0.05 level, the INF does not granger cause GDP, the optimal lag I(1) and the variables are closely related as R2 is 72%. It finds that the VAR model's results are the basis to perform economic growth; besides, the inflation rate is positively related to economic growth. The results support the monetary policy. This study identifies issues for Government to consider: have a comprehensive solution among macroeconomic policies, monetary policy, fiscal policy and other policies to control and maintain the inflation and stimulate growth; set a priority goal for sustainable economic growth; not pursue economic growth by maintaining the inflation rate in the long term, but take appropriate measures to stabilize the inflation at the best-fitted VAR forecast model.

• Proceedings of the KSR Conference
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• 2011.05a
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• pp.1313-1320
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• 2011

World Business Council for Sustainable Development(WBCSD) is effort to achieve sustainable development in economic growth, environmental preservation and social development. Being this way, it is essential for developing evaluation tool which quantify to fulfill sustainable development. Eco-efficiency is one of the quantitative tools to evaluate environmental impact and economic aspect. Eco-efficiency, in general term, means creating more value of product or services with less impact to environment. It indicates as environmental impact in denominator and value of product or services in numerator. Eco-efficiency shows how much economic value reveals to unit environmental impact caused by product or service as an indicator. This study aims at developing eco-efficiency indicator of railway industry considering use stage among the entire life cycle stage of KTX and Saemaul train and also, figure out eco-efficiency value through indicator. Therethrough, it is enables to evaluate created value per environmental aspects. Since rail vehicles demands a lot of energy to transport people during use stage, the environmental impact is more significant than other lkfe cycle stages. Therefore, it quantified environmental indicator as CO2 emission and economic indicator as transportation record per a year with an annual income. This study contributes to be used as a tool for quantifying indicator of comparison evaluation in respect of rail vehicle in use stage.

• The Journal of Industrial Distribution & Business
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• v.14 no.3
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• pp.27-43
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• 2023

Purpose: Changes in the employment environment in the era of the 4th Industrial Revolution are influencing various factors by the emergence of new jobs and the change in perception of job stability due to globalization of information technology and industry This study attempted to present implications by verifying the structural relationship of beauty workers' sustainable organizational commitment and the method necessary for conflict management in the industrial field due to the recent changes in the employment environment of the beauty industry in the 4th Industrial Revolution. Research design, data and methodology: This study sampled 604 beauty industry employees Frequency analysis, validity and reliability analysis, factor analysis, and path analysis were performed using SPSS WIN23.0. Results: It was found that the change in the employment environment caused by the 4th industrial revolution had a significant negative (-) effect on the job satisfaction and organizational commitment of beauty industry workers. Conclusion: This study is that changes in the employment environment negatively affect job satisfaction and organizational commitment of beauty workers. We hope to contribute to the development and growth of the beauty industry by providing basic data for the beauty tech service industry in the 4th industrial era.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.693-702
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• 2020

The present study aims to investigate the impact of tourism growth on human development in Indian economy. For this purpose, the study uses annual data from 1980 to 2018 and utilizes two proxies for tourism growth - tourism receipt and tourist arrivals - and uses human development index calculated by UNDP. The study uses control variables such as government expenditure and trade openness. The study employs auto regressive distributed lag (ARDL) approach to investigate the cointegrating relationship among the variables in the model. Further, the study also explores the causal nexus between tourism sector and human development by using the Toda-Yamamoto Granger non-causality test. The result of ARDL bounds test reveals the existence of cointegrating relationship between human development indicators, government expenditure, trade openness, and tourism sector growth. The cointegating coefficient confirms a positive and significant relationship between tourism sector growth and human development in India. The causality result suggests that economic growth and tourism have a positive impact while trade openness has a negative impact on human development in India. The major findings of this study suggest that tourism plays an important role in the socio-economic development of Indian economy in recent years and the country must develop this sector to achieve sustainable development.

• The Journal of Industrial Distribution & Business
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• v.12 no.7
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• pp.27-39
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• 2021

Purpose: The researchers reviewed the previous studies on the psychological anxiety and economic damage during the recent COVID-19 pandemic to understand the satisfaction, awareness and attitude of the residents in Jeju, Korea. Research design, data and methodology: 215 samples based on self-reported survey were collected for path analysis focused on controlling variables in demographic characteristics in PLS-SEM using Smart PLS 3.0. Results: The researchers found the Satisfaction with COVID-19 Prevention Measures and the Awareness of Tourism Crisis affect Attitude toward Tourism of the residents with the explanatory power (R² = 0.209). Age was found to be the only significant controlling variable in this model for the Awareness of Tourism Crisis to Attitude toward Tourism. Conclusions: The attitude toward tourism is influenced by the level of satisfaction of the prevention service for COVID-19 as well as the awareness of the crisis. Residents have different level of the tourism crisis awareness by the status of their economic activities while there is no differences in all age groups for satisfaction in the quarantine service. The study suggests that the importance of the public health service should be preferentially concerned for residents to have stable economic activities where the tourism is the major industry.

• Journal of Fashion Business
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• v.28 no.1
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• pp.98-112
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• 2024

The purpose of this study was to provide basic information on the development of local governments and upcycling industries that want to establish centers in the future. The study investigated the current situation and programs of domestic upcycling centers for regional sustainable growth. As a result of comparing and analyzing the programs operated by the upcycling centers by region, they could be classified into culture and arts experience programs, resource circulation experience programs, and environmental culture education programs according to the nature of the operation programs that are more focused on in addition to the experience and education programs reflected by each center. Among the upcycling materials and items used in the operation program, fashion-related education was being operated in a more diverse manner in the area of culture and arts experience programs. As a result of the analysis, it was found that it was necessary to establish a smooth material supply network, develop an in-depth step-by-step upcycling fashion education program, and strengthen the upcycling center program using regional characteristics. The results of this study are significant in that they provide the local governments with basic information for the establishment of upcycling centers in areas where the upcycling centers have not been established. In addition, this study presents the types and directions of programs necessary for establishing upcycling centers in the future.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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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.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.403-412
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• 2021

The COVID-19 pandemic has a great impact in various ways. It changes the normal routine of lives and businesses. Many businesses encounter tremendous financial pressure, some of them lay off workers or choose to close down. According to the statistics, e-commerce experiences a four-fold growth in sales during the pandemic period. There is an urgency for firms to digitalize their businesses to respond to the change in the landscape of purchasing patterns of consumers. The purpose of this study is to understand the success of a few popular apparel brands in digital businesses. This is a qualitative research, and secondary data is collected for the analysis. The findings reveal that all of them engage in omni-channel methods in digitizing their businesses while utilizing other forms of technologies in their product and operational management. All selected firms agree with the importance of digital business, and omni-channel retailing is their choice. In these unprecedented times, the sustainable success of the apparel firms in digital businesses requires a flexible and innovative approach and a commitment to achieving operational excellence. Continuous renewal and digital transformation are needed so that these companies have the capabilities to adapt to changes and reap the benefits of a satisfactory organizational performance.

• The Journal of Economics, Marketing and Management
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• v.12 no.4
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• pp.65-76
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• 2024

Purpose: This study aims to identify the relationship between SMEs' digital transformation capabilities, smart factory utilization, and management performance. It also aims to suggest how companies strategically utilize smart factories to achieve a competitive advantage and sustainable growth through empirical analysis of differences in innovation resistance and organizational characteristics. Research design, data, and methodology: This study Implement for SME's building smart factories did. The survey was conducted for 90days from October 1st, 2023 to December 31th, 2023. Total of 210 surveys were collected, and 186 surveys, excluding ones with missing value and outliers (64 surveys), were used. Results: The results of the empirical analysis based on previous research are as follows. First, digital transformation capabilities such as digital technology, digital leadership, and digital strategy affect smart factory utilization. Second, smart factory use affects operational performance. Third, innovation resistance has a moderating effect in the relationship with digital transformation capabilities, smart factory utilization, and management performance. Fourth, organizational characteristics have a moderating effect in the relationship with digital transformation capabilities, smart factory utilization, and management performance. Conclusions: Explore strategic ways to improve your organization's digital transformation capabilities. It is necessary to establish a strategy to make organizational members aware of the necessity and importance of introducing a new system through centralization of the organization.