• Journal of Distribution Science
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• v.21 no.7
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• pp.41-50
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• 2023

Purpose: The purpose of the research is identified factors influencing the competitiveness of the copper industry in Kazakhstan. Research design, data and methodology: A few studies are dedicated to the analysis in developing countries, particularly Kazakhstan. The algorithm was chosen for research provision: statistical and comparative analysis, correlation, and regression analysis. The data of 1999-2021 obtained from the World Bank, Bureau of National Statistics, National Bank of Kazakhstan. Results: The obtained results demonstrate the trends in the development of the industry since 2000. The development of the copper industry is strongly influenced by the distribution and state of the business environment, economic situation, and trends in the global commodity markets. Conclusions: According to econometric modeling, there is a correlation between the profitability of the copper industry, GDP, copper prices, liquidity, and energy resource prices. Trends in global commodity and energy markets have a significant impact on the state of the industry. Further research should be conducted to include an analysis and forecast of internal factors that may affect the development of the industry, such as copper reserves, condition of fixed assets, government programs, etc. It is also important to examine the correlation with the trends in the development of the global green economy and the revival of the Chinese market.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.11-19
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• 2020

This study examines the factors that affect firm's liquidity in manufacturing companies listed in Vietnam. Factors studied include the board size, the board independence, the firm size, the firm age, and its return. We use different metrics to measure firm's solvency status, including the cash ratio, the quick ratio, and the cash conversion cycle. Accordingly, three econometric models are built to test hypotheses proposed by researchers in order to explain the relationship between the five factors above and liquidity's measures. The study used the data set of manufacturing companies listed on the Ho Chi Minh City Stock Exchange in the period from 2015 to 2019. The final sample group comprises 139 firms with 633 observations. The results show that in manufacturing firms, while the cash ratio and the quick ratio are positively associated to the board size, the board independence, and the firm's profitability, the net operating cycle is negatively correlated to the board size, the firm size, the board independence, and the profitability. Therefore, larger firms with larger board size and more independent members can help to improve capital management efficiency.There is no evidence for the relationship between the firm age and solvency measurements, between cash conversion cycle and firm's profitability.

• The Journal of Society for e-Business Studies
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• v.25 no.3
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• pp.63-76
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• 2020

In the 21st century, informatization is playing a huge role in people's lives. Korea is experiencing the tremendous changes in social structure and lifestyle caused by informatization. This paper focuses on economic phenomena rather than discussion on social structure due to informatization. We check whether the Goodwin model, which can comprehensively express economic growth, economic cycle, and income distribution, is suitable for the Korean economy in the information age. This model is simulated by selecting a quantitative economic methodology that estimates coefficients from time series data of the Korean economy. The simulation results confirmed that the Goodwin model is suitable for analyzing functional income distribution in Korea.

• The Journal of Industrial Distribution & Business
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• v.11 no.8
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• pp.21-29
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• 2020

Purpose: As one of the most developed cities in China, the application of e-commerce is more mature, especially the promotion of ecommerce to foreign trade. After the establishment of Shanghai Free Trade Zone (FTZ) in 2013, the government issued a series of policies to promote the application of e-commerce in Shanghai's foreign trade. This paper takes Shanghai FTZ as an example to study how to develop the application of e-commerce in other free trade zones and how to innovate the international trade mode. Research design, data and methodology: This paper selects the latest data from 2010 to 2019, uses econometric correlation analysis and regression analysis to study the impact of e-commerce on the foreign trade of Shanghai FTZ. Results: At last, the conclusion is drawn that the establishment of free trade zone provides many advantages for the development of e-commerce in Shanghai, and the growth of e-commerce in Shanghai FTZ promotes the development of foreign trade of Shanghai FTZ. Conclusions: So as to promote the development of e-commerce in Shanghai Free Trade Zone, some suggestions are put forward, such as increasing network supervision, establishing e-commerce talent training system, logistics management and information management systematization.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.115-125
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• 2020

This paper investigates the impact of working capital management on the firm's profitability. The research sample includes 119 non-financial listed companies on Vietnam stock market over a period of 9 years from 2010 to 2018. Two statistical approaches include Ordinary least squares (OLS) and fixed effects model (FEM) are employed to address econometric issues and to improve the accuracy of the regression coefficients. The empirical results show the negative and significant impacts of the working capital management, which measured by cash conversion cycle (CCC) and three components of the CCC including accounts receivable turnover in days (ARD), inventory turnover in days (INVD), and accounts payable turnover in days (APD) on the firm's profitability measured by return on assets (ROA) and Tobin's Q. It implies that firms can increase profitability by keeping the optimization of the working capital management measured by the CCC, which includes shortening the time to collect money from clients, accelerating inventory flow and hold the low payment time to creditors. Besides, the profitability of firms was impacted by the sale growth rate, firm size, leverage, and age. Therefore, this paper provides a new insight to managers on how to improve the firm's profitability with working capital management.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.109-114
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• 2019

The purpose of the study to evaluate the contribution of foreign direct investment (FDI) and tourism receipts (TR) to Sri Lanka's gross domestic product (GDP). This study employs time series annual data for the period from 1978 to 2016 and EViews 10 econometrics software was used for the time series data analysis. Unit root test was done on the variables and the method chosen was the Augmented Dicky - Fuller test. Co-integration analysis was used for the long run relationship and the Granger causality test was performed to investigate the causal relationship. Recently a more conducive environment has been established after the three decade long ethnic war came to an end. In this context, the Sri Lankan government has taken positive measures to attract foreign direct investment and boost tourism in the country. This study intends to evaluate the contribution of Sri Lanka, as these two factors are considered to be very effective at increasing the GDP of a country. The empirical study shows that there is a positive and statistically significant relationship between the variable's TR and FDI to the GDP in the long run. Results of Granger causality test implied that the two-way causality promoted the economic growth of Sri Lanka.

• STI Policy Review
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• v.6 no.1
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• pp.24-35
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• 2015

This research constructs a data set regarding competition policy through a comprehensive review of previous studies, and performs a meta-analysis to quantitatively assess the price effects of deregulation. A structural econometric model is used to eliminate possible biases from heterogeneity of the studies,such as in publication types and measurement methods. Four types of regulations that deter competition are characterized and three groups of industries are made for drawing practical implications. We fnd that deregulation to promote competition reduces prices by 0.23% and that these estimated price effects are more stable when we control for the publication types and measurement ways. Easing regulations that restrict consumers' choice is shown to be most effcient in promoting competition, lowering prices by 0.7%. This is followed by eliminating the limitation in the number of frms in the industry, with 0.2% price reduction. Overall, the network and service industries are shown to be more responsive to deregulation than the R&D industry. These results could shed light on policy implementation when a pro-competition policy is called for due to restrictive regulations in the corresponding industries.

• Health Policy and Management
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• v.18 no.1
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• pp.21-42
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• 2008

This study investigates economies of scale, cost complementarity and economies of scope for healthcare organizations using econometric approaches. The economies of scale appear to exist in each service provided by a hospital such as inpatient treatment services, outpatient treatment services, and other patient treatment services, respectively. When we test all services in aggregate level, it also indicates that the healthcare industry on average exhibits the economies of scale of 6 percent, which implies that scaling up hospital sizes will bring substantial cost savings to them Evidence shows that cost complementarity exists between outpatient services and other services for patients and, i.e., these other services for patients experience the reduction in marginal costs as the outputs of the outpatient services increase. For the economies of scope, they are present in most service areas; aggregate level services, outpatient services, and other services for patients, respectively. Inpatient treatment services, however, do not show any evidence of the economies of scope. Results show that the economies of scope are achieved by the general hospital type that provides all service areas such as inpatient treatments, outpatient treatments, and other services for patients. The existence of the economies of scope provides the rationale for extending the existing line of business in a hospital into more diverse areas of services where its benefit comes in the form of cost savings. In sum, it overall provides evidence that the M&As in this industry are encouraged to achieve cost reductions from the economies of scale and scope by changing the size and the output mix.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.4
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• pp.97-105
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• 2020

This paper explores the impact of capital structure on firm performance in the context of Vietnam. The paper investigates the different effect of capital structure on firm performance in state-owned and non-state enterprises listed on the Vietnam stock market. The panel data of research sample includes 488 non-financial listed companies on the Vietnam stock market for a period of six years, from 2013 to 2018. The Generalized Least Square (GLS) is employed to address econometric issues and to improve the accuracy of the regression coefficients. In this research, firm performance is measured by return on equity (ROE), return on assets (ROA), and earnings per share (EPS). The ratios of short-term liabilities, long-term liabilities, and total liabilities to total assets are proxy for capital structure. Firm sizes, growth rate, liquidity, and ratio of fixed assets to total assets are control variables in the study. The empirical results show that capital structure has a statistically significant negative effect on the firm performance. The result also shows this effect is stronger in state-owned enterprises than non-state enterprises in Vietnam. These evidences provide a new insight to managers of both state-owned and non-state enterprises on how to improve the firm's performance with capital structure.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.59-72
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• 2020

This paper examines whether lending structure can lower credit risk by employing econometric techniques of panel data for the Vietnamese banking system at the bank level used by economic sectors from 2011 to 2016. New light is being shed on assessing the impact of each industry's debt outstanding on credit risk. Adopting findings from previous studies, we assess credit risk from two different sources, including loan loss provision and non-performing loan. Moreover, we also focus on observing lending structure in many different aspects, from concentrative levels to the short-term and long-term stability levels of lending structure. The Generalized Method of Moments (GMM) estimator was applied to analyze the relationship between concentration and banking risks. In general, the results show that lending concentration may decrease credit risk. It is interesting to observe that the Vietnamese commercial bank lending portfolios have, on average, higher levels of diversity across different sectors. In particular, the increase in hotel and restaurant lending contributes to decrease credit risk while the lending portfolios of banks in agriculture, electricity, gas and water increase credit risk. This study suggests the need for further analysis and research about portfolio risks in lending activities for maintaining efficiency and stability in the commercial banking system.