• East Asian Journal of Business Economics (EAJBE)
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• v.7 no.2
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• pp.1-9
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• 2019

Purpose - This study aims to examine whether key differences in characteristics of unions have significant implications for absenteeism. To uncover what characteristics of union made workers make decisions to be absent, this study used such key dimensions of unionism as democracy, cooperative strategy of a union, and d density rate. Research design and methodology - The research model of this study is that absenteeism has positive relations with union's democracy and density. But it has negative relations with union cooperative strategy. This study was conducted by survey method on 333local unionized business entities of metal industry in South Korea. Results - The result shows that significant and positive relationship between unions with high density rates, democracy and absenteeism which is in line with the argument of the previous studies. Different from the expectation, the hypotheses 2, it has been shown that there is positive relation between cooperative strategy of union and the decision of workers to be absent. Conclusions - Employers with unions with high density rates could not fully exercise disciplinary power against those workers absent at workplace since a strong union shields them effectively from punishments by employers.

• The Korean Journal of Financial Management
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• v.1 no.1
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• pp.55-69
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• 1985

1959년(年) 11월(月) St. Louis 연방은행 Review지(誌)에 발표된 통칭 St. Louis 방정식으로 불리는 Miehael W. Keran의 모형은 학계에 지대한 반향을 이르켰다. 동모형은 1919년에서 1969의 50년간의 자료를 토대로 재정정책 및 화폐정책을 대표하는 두 설명변수와 경제활동의 전반적지표로서 국민소득을 종속변수로하여 전자의 후자에 미치는 영향을 계량적으로 파악코저하는 회귀분석인데 만일 방정식이라는 접근방식이 구조적 특징이다. 본 연구는 1965년에서 1980년까지의 새로운 자료에 입각하여 동모형의 이론적 타당성을 비판적으로 검토하고, 또한 통계학적 신빙성을 제고(提高)할 수 있는 개선방안(改善方案)을 모색코저 시도(試圖)한 것이다. 우선 단일방정식(單一方程式) 접근(接近)의 문제점(問題點)인 종속변수의 EXOGENEITY를 시험하기 위(爲)한 소위 Reverse-Causation Argument를 재점검(再點檢)하였고, 이이서 동모형의 Specification을 면밀히 살펴왔다. 특히 이자율의 변동을 설명변수로 도입해서 동변수가 경제활동전반에 끼치는 영향을 추정함으로서 설명변수의 추가적 설정(說定)의 타당성여부를 검토하였다. Keran의 결과가 t, D-W 및 $R^2$ 등의 주요 통제치가 매우 미흡한 수준이였으므로 이들 통계치의 제고(提高)를 위해 Almond-lag 방식을 Cuchrane/Oreutt 기법(技法)과 결합해서 적용하여 Almond의 지연구조에 녹유(綠由)하는 자동상관(自動相關) 효과(效果)를 배제(排除)코저 하였다. 끝으로 본연구대상기간인 '65년에서 '80년간의 역사적 발전을 배경으로 동모형의 적용 결과를 재조명(再照明)함으로서 동모형의 타당성을 살펴봤다.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.1-13
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• 2020

This study examines the effect of managerial ownership on firm value in capital markets where outside governance mechanisms to discipline managers are weak or non-existent. We hypothesize that strong market forces in the U.S. confound the effect of managerial ownership on firm value, i.e., the convergence of interest argument. We test the hypothesis using data from 112 firms from Singapore Stock Exchange and 205 firms from the Stock Exchange of Thailand prior to the Asian financial crisis in 1997 when the market forces were weak, yet the investor protection was sufficient to prevent outright appropriation from management. For ease of comparison, we use methodologies from studies done on the U.S. sample firms during the same study period as ours. We find that, both in Singapore and Thailand, firm value is a function of managerial ownership, and the relation is of the famous inverted U-shaped. Moreover, the relation is robust under different model specifications. The results from Thai sample, with weaker market forces than in Singapore, lend support to many agency cost hypotheses advanced in the U.S. Our results provide useful implication for investors in emerging and frontier markets where outside governance mechanisms are yet to be fully developed.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.37 no.1
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• pp.50-59
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• 2014

In this paper, we develop an efficient approach to solve a multiple-item budget-constraint newsboy problem with a reservation policy. A conventional approach for solving such problem utilizes an approximation for the evaluation of an inverse of a Gaussian cumulative density function when the argument of the function is small, and a heuristic method for finding an optimal Lagrangian multiplier. In contrast to the conventional approach, this paper proposes more accurate method of evaluating the function by using the normalization and an effective numerical integration method. We also propose an efficient way to find an optimal Lagrangian multiplier by proving that the equation for the budget-constraint is in fact a monotonically increasing function in the Lagrangian multiplier. Numerical examples are tested to show the performance of the proposed approach with emphases on the behaviors of the inverse of a Gaussian cumulative density function and the Lagrangian multiplier. By using sensitivity analysis of different budget constraints, we show that the reservation policy indeed provides greater expected profit than the classical model of not having the reservation policy.

• Proceedings of the Korean Vacuum Society Conference
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• 2000.02a
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• pp.147-147
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• 2000

Chemisorption of oxygen molecules on the Si(111)-(7x7) surface has been studied extensively as a model for the initial-stage oxidation of the surface. The basic step to the surface oxidation is the dissociation of the adsorbed O2 molecules, but the dissociation procedure and the atomic structure of the reaction products still remains as a subject of debates. We present here density-functional theory calculations on the initial-stage oxidation states of the Si adatom site for all possible dissociation configurations that can be generated by multiple O2 reactions. We determine the equilibrium structures and analyze their electronic and vibrational properties in comparison with measured UPS, XPS, and EELS spectra. The O(ad) atom bonded on top of the Si adatom is always less stable than the O(ins) atom inserted into one of the adatom backbonds. Our electronic and vibrational analysis demonstrates further that the O(ad) and O(ins) atoms account well for the metastable and stable features in previous experiments, respectively. Moreover, the calculated decay pathways of the metastable structures and the comparison of the calculated O ls core-level shifts with XPS data provides a convincing argument in unambiguously identifying the experimental metastable and stable structures, thereby making it possible to build a correct atomic-scale picture of the initial-stage oxidation process on this surface.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.11
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• pp.21-29
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• 2021

The objective of this study is to see how a country's level of democracy impacts the relationship between financial development and income disparity. We argue that political regimes, supported by their degree of democracy, are important for various decentralization theories to predict the impact of financial development on income inequality. Our study tests this argument using Vietnam time series data for the period 2000-2020 through the ARDL model. The financial development variable is represented by five proxies, the income inequality variable is represented by the GINI coefficient and the role of democracy is represented by the Freedom House Index. Data serving for the study is taken from data sources with high reliability. The results of the study have strong evidence that (1) financial development has a positive impact on income inequality, (2) democratic government will reduce national income inequality. (3) And a higher degree of democracy tends to mitigate the positive impact of financial development on income inequality. Thus, our study contributes to the literature by providing a new look at the mixed results regarding the relationship between financial development and theoretical income inequality. Finally, the article provides policy implications for the Government of Vietnam.

• Research in Mathematical Education
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• v.22 no.2
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• pp.99-121
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• 2019

This article looks back and also looks forward at the values aspect of school mathematics teaching and learning. Looking back, it draws on existing academic knowledge to explain why the values construct has been regarded in recent writings as a conative variable, that is, associated with willingness and motivation. The discussion highlights the tripartite model of the human mind which was first conceptualised in the eighteenth century, emphasising the intertwined and mutually enabling processes of cognition, affect, and conation. The article also discusses what we already know about the nature of values, which suggests that values are both consistent and malleable. The trend in mathematics educational research into values over the last three decades or so is outlined. These allow for an updated definition of values in mathematics education to be offered in this article. Considering the categories of values that might be found in mathematics classrooms, an argument is also made for more attention to be paid to general educational values. After all, the potential of the values construct in mathematics education research extends beyond student understanding of and performance in mathematics, to realising an ethical mathematics education which is important for thriveability in the Fourth Industrial Revolution. Looking ahead, then, this article outlines a 4-step values development approach for implementation in the classroom, involving Justifying, Essaying, Declaring, and Identifying. With an acronym of JEDI, this novel approach has been informed by the theories of 'saying is believing', self-persuasion, insufficient justification, and abstract construals.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.723-732
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• 2021

On September 25, 2015, 193 countries of the United Nations (UN) General Assembly, signed the 2030 Agenda to work towards attaining 17 Sustainable Development Goals (SDGs) and its associated 169 targets and 232 indicators. With one of the largest renewable energy programs, India is well-poised to be a role model for low-carbon transformation to other Asian countries. However, bridging the financing gap is critical to ensure that the country meets its SDG targets. Though the SDGs identified by the UN are broad-based and interdependent, for ease of analysis we have grouped them into five themes - people, planet, prosperity, peace, and partnership - based on existing UN models. This paper investigates the financing gap for 'green' projects linked to planet-related SDG targets in India. It builds an argument for utilizing green bonds as an instrument to bridge the gap. After establishing the potential of green bonds in raising the finance to meet India's planet-related SDG targets, we look at the current policy landscape and suggest recommendations for successful execution. The paper concludes that deepening of the corporate fixed income securities market and firming up guidelines in line with India's climate action plans are inevitable before green bonds can be considered a viable financing option.

• Journal of Distribution Science
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• v.18 no.12
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• pp.15-29
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• 2020

Purpose: Due to an ever more interconnected global commercial environment, the role of SMEs from emerging markets has attracted considerable attention in business literature of late. Reinforced by strategic management theory, this study builds on aspects such as entrepreneurial orientation and dynamic capabilities to construct and test a framework that focuses on exploring their associations with export performance. Research design, data and methodology: To contribute further towards a deeper understanding of these markets, the current study empirically tests a model using data collected from 225 exporting firms located throughout South Africa. Results: The results from the data analysis show that entrepreneurial orientation contributes significantly towards improving the performance of South African SMEs. Additionally, this study integrates three dynamic capabilities in the strategy-performance relationship to test their interacting effects on the correlation between entrepreneurial orientation and export performance. Further findings advocate support for relationship-based capabilities playing a moderating role between entrepreneurial orientation and the exporting performance of small and medium firms emanating from emerging markets. Conclusions: Findings provide substance to the argument that entrepreneurship, as a strategy-making process, leads to export performance in emerging nations. Especially, this study provides several suggestions as to how small and medium-sized organizations can develop their exporting performance based on the research findings.

• Cross-Cultural Studies
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• v.38
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• pp.385-404
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• 2015

Compiled in 776 by Zhang Shen, Wu Jing Wen Zi was regarded as the epitome of model book for standardized regular script in Tang Dynasty. Following early works like Shuo Wen Jie Zi, Zhang Shen adopted radical-rule for the compilation of this work. 3,250 characters were selected from the Five Classics and 160 radicals were established. Yu Jiaxi (1884-1955) harshly criticized the radical system of Wu Jing Wen Zi for being inconsistant and confusing. With careful review and analysis of examples from Wu Jing Wen Zi, this paper discusses the pupose of the compilation of this work, its unique radical-rule system, principles of arrangement of characters with the same or similar radicals, and the differentiation of variant characters. It further discusses the value of Wu Jing Wen Zi by its innovative radical-rule and effective differentiation of variant characters. It concludes with a rebuttal of Yu Jiaxi's argument and restate the necessity of reevaluation of this work even to this day.