• The Journal of Asian Finance, Economics and Business
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• v.3 no.4
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• pp.57-66
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• 2016

Foreign Direct Investment (FDI) plays a vital role in economic growth of the countries. The present study analyses the impact of the FDI on economic growth of South Asian Association of Regional Cooperation countries by using the pooled data for the period 1990-2014. Neo-classical production function has been used for analysis and getting stock-to-flow estimation, Taylor series approximation has applied. Fixed Effects Model has been used to investigate the impact of FDI, domestic capital, labour and government expenditures on economic growth. It is the evident from the results that both domestic investment and FDI have been a positive effect on economic growth. The study finds that the contribution of domestic private investment is more trustworthy than the contribution of FDI. Consequently, FDI loses its attraction as an engine of growth if the adverse balance of payment consequence of the resulting profit repatriating is also taken into account. The labour has positive and significant association with GDP. The effect of government expenditure is negligible on economic growth. The findings suggest that growth strategy cannot yield the long term benefits if it neglects investments on human capital.

• Asia pacific journal of information systems
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• v.6 no.1
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• pp.125-163
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• 1996

Since the bank managers were accustomed to be under the goverment policy and control so far, all what they had to do were just to follow the government policy and wait for customers. These usual practices resultedin neglection of concerns for innovation and competitive power. However, it currently happens the change of business environment such as the liberalization of interest rates and the open finance market policy. Thus, it is necessary for the bank managers to have a concern on that situation for the improvement of profitability through productivity and cost-down. The bank managers are trying to set out an innovation strategy to cope with this situation. An innovation strategy should be based on its own characteristics of banking business. The banking business is different from those of other business because it deals with intangible services rather than material goods and thus, the bank managers have to be more sensitive to the customers. There also exists an inefficiency of internal process due to too many repetition of 'check and balance'. Thus, We set out the five principles and six selected tasks in order to settle down an inefficiency and to redesign a bank operation process.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.1
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• pp.79-86
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• 2017

With the increasing trend of popularity of websites and social networking sites, it is quite evident that companies need to take cautionary measures in protecting the reputations with respect to company and brands. In this process, every company should indulge in enhancing their company and brand image through websites and social networking sites that fortify the bonding nature among them. The always-on nature of websites and social networking sites has contributed to their phenomenal marketing power and altered the balance of power between consumers and firms. Websites and social networks are used by hundreds of millions of people to communicate about a huge range of topics, including personal interests, activities, social events and even public issues. The paper explores a case study of the Ritz-Carlton hotel for their marketing strategy and organizational use of their website and social media in communicating with their customers. Even for the normal luxury traveler who would not have previously used the Internet to research a hotel or make a reservation, ritzcarlton.com is making it possible for them to do so in a sense of the luxury and typical Ritz-Carlton style. It seems to be a staple of the company for years to come.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.4
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• pp.73-83
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• 2018

The purpose of this paper is to examine the relationship between regional financial development and corporate investment efficiency as well as the relationship between firm-level characteristics and corporate investment efficiency. Using a large sample of A-listed companies in China from CSMAR database between 2003 and 2016, this paper explores corporate investment efficiency and its influencing factors in emerging market on the basis of heterogeneous stochastic frontier model. The results show that: (1) the average investment efficiency of Chinese listed companies is 74.5%, and the investment efficiency of large enterprises, state-owned enterprises and enterprises with relatively high financial development level is significantly higher; (2) compared with average corporate investment efficiency in the year 2003, the investment efficiency of different types of enterprises in 2016 is significantly higher, and the gap is gradually widening; (3) enterprise heterogeneity namely firm size, nature of property right, and institutional environment reflected by the level of regional financial development indirectly affects corporate investment efficiency by influencing the financing constraints and uncertainty. The findings suggest that to improve corporate investment efficiency in emerging market, financial market should be accelerated, regional balance should be restored and the differences among regions, industries and differences between public and private sectors should be eliminated.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.1113-1122
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• 2020

The purpose of this study is to examine how the Indian banks have adjusted their risk-based capital ratios during 2009-2018 to meet the regulatory requirements. Banks can, in principle, increase their risk-based regulatory capital ratio, either by increasing their levels of regulatory capital or by shrinking their risk-weighted assets by adjusting asset growth or risk in the portfolio. We investigate banks' capital behavior by decomposing the change in the capital ratio into the contribution of its components and analyzing their variance across regulatory regimes and banks' ownerships. We further investigate how each component of the capital ratio is adjusted by the banks by breaking down them into balance sheet items. We find that the banks' capital behavior significantly differed between public and private sector banks and between the two regulatory regimes. During Basel II, banks, in general, followed a strategy of aggressive asset growth with increased risk-taking. The decline in the CRAR because of such an expansionary strategy was adjusted by augmenting additional capital. However, during Basel III, due to higher capital requirements, both in terms of quantity and quality, banks followed a strategy of cutting back their asset growth and reducing the risk in their portfolio to maintain their CRAR.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.9-21
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• 2020

The aim of this paper is to predict the Borsa Istanbul (BIST) 30 index movements to determine the most accurate buy and sell decisions using the methods of Artificial Neural Networks (ANN) and Genetic Algorithm (GA). We combined these two methods to obtain a hybrid intelligence method, which we apply. In the financial markets, over 100 technical indicators can be used. However, several of them are preferred by analysts. In this study, we employed nine of these technical indicators. They are moving average convergence divergence (MACD), relative strength index (RSI), commodity channel index (CCI), momentum, directional movement index (DMI), stochastic oscillator, on-balance volume (OBV), average directional movement index (ADX), and simple moving averages (3-day moving average, 5-day moving average, 10-day moving average, 14-day moving average, 20-day moving average, 22-day moving average, 50-day moving average, 100-day moving average, 200-day moving average). In this regard, we combined these two techniques and obtained a hybrid intelligence method. By applying this hybrid model to each of these indicators, we forecast the movements of the Borsa Istanbul (BIST) 30 index. The experimental result indicates that our best proposed hybrid model has a successful forecast rate of 75%, which is higher than the single ANN or GA forecasting models.

• Journal of the Korea Institute of Building Construction
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• v.9 no.2
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• pp.69-76
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• 2009

Recently, the twenty-first century is called "the age of localization and regionalization" in Korea. So, local government should need to keep balance between the existing administrative management and new management strategies based on CEO's mind in order to deal with the situation of such that(the age of localization and regionalization) and improve efficiency of public service. In addition, they build public buildings after that they should operate and maintain them regularly. However, Korea local governments have tried to run many projects to expand insufficient local finance that was only for profit oriented public projects without considering management. Therefore, this paper is a basic study to establish and suggest the reasonable operation plan for local government by examining and reviewing actual operation condition in the public buildings. With the evaluation method which is demanded from public construction management to introduce a civil management technique manages an investment mind standard and management basis of assessment, proposes 8 sides of financial affairs, real estate maintenance and facility management, achievement evaluation, environmental safe crisis management, judiciary and explanation responsibility with base.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.1
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• pp.91-105
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• 2019

The paper aims to combine balance sheet analysis at the firm level with the International Monetary Fund's public debt sustainability assessment framework to assess state-owned enterprises' (SOE) leverage as a contingent liability to the public sector. Based on company data and the interest coverage ratio as a measure of debt at risk, aggregate baseline scenarios are projected to gauge the magnitude of SOE debt as a contingency. SOE's financial and debt ratios are first bootstrapped to generate firm-level distributions and then averaged into a fan chart of the economy-wide SOE contingent liability. Applied to the People's Republic of China as an example, the study finds that by the end of 2015 SOE leverage had grown to a substantial liability. However arbitrary the assumptions underlying these projections, it would appear that even if authorities had to mop up as much as 20% of SOE debt at risk gone bad, this would have been manageable at roughly 2.7% of the gross domestic product in 2016 or 5.5% by 2021. This projection framework is fully amenable to alternative assumptions and settings, which makes it a useful analytical tool to monitor contingent liabilities from non-financial corporate debt that have been building in emerging and advanced economies alike.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.517-525
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• 2021

The study investigates the behavior of Asian banks in response to the subprime mortgage crisis and examines how countries that have experimented with a mix of conventional and Islamic banking managed their balance sheet during that period. The study carries out an independent mean t-test comparing the difference of leverage of 464 conventional commercial Asian banks pre- and post-crisis from the largest twenty-five Asian economies based on GDP (2007). The analysis uses 10-year unbalanced panel data of conventional banks and employs the generalized least squares estimation using a dummy variable event window method to capture the response of Asian banks. The study finds evidence of a structural change in the capital structure of Asian commercial banks in response to the financial crisis. Findings suggest that conventional banks increased their capital position more in countries that have both Islamic and conventional banking than those countries without Islamic banking services. By having Islamic banking in their product portfolio, countries can exert market discipline on conventional banks. The study identifies a significant role of global macroeconomic shocks on banks liability structure decision-making. Evidence shows that this increase in capital positioning by banks was a permanent rather than a temporary response.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.34 no.6
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• pp.127-134
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• 2018

The purpose of this study is to derive a model of urban regeneration business using idle facilities in the old city center. The scope of the study was set as empty houses and empty stores owned by private companies, and analyzed the 50 central city revitalization projects using idle facilities in 14 local cities in Japan. The results of this study are follows; First, as an urban regeneration strategy using idle facilities in the old town, it was a combination of other functions centering on commercial functions or introducing new functions required in the city center. Second, various financial supports have been provided to induce the utilization of idle facilities by the private sector, and different strategies have been implemented for businesses that need maintenance first. Third, based on the analysis results, it was possible to derive urban regeneration business model. Fourth, in order to operate smooth business, it is a need for an organization that is in charge of reviewing the consistency of upper-level planning and urban guiding functions such as urban revitalization plan, balance review of expenditure and revenues by cost subsidy and loan repayment, consultation among the business partners.