• Title/Summary/Keyword: return level

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Export Performance and Stock Return: A Case of Fishery Firms Listing in Vietnam Stock Markets

  • VO, Quy Thi
    • The Journal of Asian Finance, Economics and Business
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    • v.6 no.4
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    • pp.37-43
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    • 2019
  • The research aims to study the relationship between export performance and stock return of Vietnamese fishery companies. To conduct this study, quarterly data was collected for period from 2010-2018 of 13 fishery companies listing in Ho Chi Minh Stock Exchange (HOSE) and Ha Noi Stock Exchange (HNX). The export performance was measured by export intensity, export growth and export market coverage. In addition, interest rate, exchange rate, GDP, firm size, profitability, and financial leverage were considered as the control variables in the research model. Panel data analysis with Generalized Least Squares model was employed to estimate the predictive regression. The findings indicated that export intensity and export growth have a significant and positive relationship with stock returns. However, export market coverage has not a significant relationship with stock return at the 0.05 level. Profitability, financial leverage, and exchange rate have a positive relationship, while interest rate and GDP have no relation to stock return at the 0.05 significance level. The findings imply that investors should consider the export intensity instead of export growth and export market coverage as selecting stock of fishery exports firms to invest; managers should increase export intensity to increase company's stock price or firm market value.

A Study on the Characteristics of Participants' Perception for Improvement of Education on Return to Mountain Village - In the Case of the Participants in Senior Mountain Village School - (귀산촌 교육 개선을 위한 교육 참가자 인식 특성 분석 - 시니어 산촌학교 참가자를 대상으로 -)

  • Kim, Ye-Ji;Seo, Jeong-Weon;Kim, Seong-Hak
    • Journal of Environmental Science International
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    • v.27 no.12
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    • pp.1249-1260
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    • 2018
  • The present study aimed to examine participants' perception regarding improvements in education for their return to a mountain village, based on "satisfaction, motivation's achievement, and effectiveness." Survey was conducted with 80 participants in 2017, of which 64 valid responses were used for statistical analysis. SPSS 21.0 program was used to conduct descriptive statistics, reliability analysis, factor analysis, and multiple regression analysis. The major findings were that a higher level of "satisfaction regarding the instructor and teaching materials" resulted in a higher level of motivation's achievement of technology skills, social skills and effectiveness in interpersonal exchange. The findings also revealed that if "the content of education" were satisfactory, there was effective self development. In addition, the higher the motivation's achievement of social skill, the higher the perception in effectiveness of self development and interpersonal exchange. The study can contribute to provide baseline data for improvement of education on return of people to their mountain villages, which are collaborating with civic groups, governments, research institutions and enterprises.

The Patterns of Return and Getting Housing of Returners-to-village according to Their Experience of Rural life - Focused on Returners-to-village in Chungbuk Area - (농촌생활경험에 따른 귀촌자의 귀촌방식 및 주택마련 - 충북지역 귀촌자를 중심으로 -)

  • Park, Kyoung-Ok;Lee, Sang-Un
    • Journal of the Korean Institute of Rural Architecture
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    • v.14 no.4
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    • pp.143-152
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    • 2012
  • The purpose of this study was to provide practical data for proposing the housing environment support policy, fit for returners-to-village. For the purpose, this study focused the patterns of returners-to-village according to their experience of rural life, and their ways of settlement like planning and getting land and house. The questionnaires were answered by 91 persons who were living in Chungbuk area, and were analyzed chi-analysis on their socio-demographic characteristics according to experience of rural life, preparation of settlement and construction. The ANOVA were used to analyze their pattern of return according to experience, the period for getting house, and their satisfaction level of house size. The results were as follows. First, the returners showed differentiated tendency according to their experience of rural life, in their age, family life cycle, education level and income source after return. The experience of rural life explained the purpose of return and the living pattern after return. Direct experience group was mostly occupational farmer; indirect experience group mostly pursued good health & green life; non experience group mostly pursued green life. Second, the experience of rural life also explained differentiated tendency of returning preparation. In raising money, direct experience group mostly raised it privately but indirect or non experience group mostly used bank loan. Third, the returners mostly constructed new houses; non experience group almost constructed newly, but there were cases to utilize existing or vacant house in direct experience group, and indirect experience group favored existing house or remodeling of vacant house.

A study on the Debt's Janus-Faced reality as a Way of Capital Finance (자본조달 수단으로써 부채의 양면성에 관한 연구)

  • Choi, Chang Ho;You, Yen Yoo
    • Journal of Digital Convergence
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    • v.12 no.6
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    • pp.115-123
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    • 2014
  • The first, this study analyzed empirically the effects of net profit on sales, total asset turnover and debt ratio on return on equity, the second, verified debt' s mediating effect on return on investment and return on equity and finally, tested the effect of adjusted debt ratio on return on equity in the small medium sized enterprises. Generally speaking, using debt has a positive effect on return on equity. Meanwhile, using debt accelerate return on equity through leverage effect in the quadric function curve model. Eventually, using debt has a positive and negative effects on return on equity. Accordingly, because of the debt' janus-faced reality, using debt is restricted within the level that operating cash flow(or return on asset) excess interest(or rate of interest).

Quantifying Energy Consumption to the Level of Service Pressure in Water Distribution Network

  • Marlim, Malvin S.;Choi, Jeongwook;Kang, Doosun
    • Proceedings of the Korea Water Resources Association Conference
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    • 2022.05a
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    • pp.458-458
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    • 2022
  • It is essential to reduce global carbon emissions, mainly from energy use. The water supply and distribution sector is a vital part of human society and is one of the primary energy consumers. The procurement and distribution of water require electricity to operate the pump to deliver water to users with sufficient pressure. As the water users are spatially distributed over a wide area, the energy required to deliver water to each user differs depending on the corresponding supplying element (reservoir, tank, pipe, pump, and valve). This difference in energy required for each user also comes with a difference in pressure availability which affects the level of service for individual users and the whole network. Typically, there is a disproportion where users close to the source experience excessively high pressure with low energy consumption. In contrast, remote users need more energy to get the minimum pressure. This study proposes the Energy Return Index (ERI) to quantify the pressure return from particular energy consumption to supply water to each node. The disproportionality can be quantified and identified in the network using the proposed ERI. The index can be applied to optimize the network elements such as pump operation and tank location/size to reach a balanced energy consumption with the appropriate level of service.

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A Study on Forecasting the Rural Rental Housing Demand (농촌 임대주택 수요분석 연구)

  • Lee, Chang-Woo;Yun, Kap-Sik
    • Journal of the Korean Institute of Rural Architecture
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    • v.19 no.3
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    • pp.33-41
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    • 2017
  • Recently, it is recognized that the increase of return farmers is an important task to revitalize rural areas. There is a growing need to improve the housing environment in rural areas by expanding rental housing supply in order to increase return farmers. The purpose of the study is to forecast the rural rental housing demand based on the questionnaire survey and to suggest the rural rental housing supply in the public sector. The rural rental housing demand consists of demand for rural residents and demand for return farmers. The survey was conducted for rural residents and potential return farmers. The rural rental housing demand was analyzed by using prospect of rural residents and return farmers in the future and the rate of intention to move into rural rental house derived from the survey. In this study, rural rental housing demand which does not take into consideration the rent level and rural rental house demand considering it are presented respectively.

A Study on satisfaction of year-end-settlement for employee (근로소득자들의 연말정산 만족도에 관한 연구)

  • Kim, Hyoung-Gu;Sunwoo, Young-Soo
    • Journal of the Korea Society of Computer and Information
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    • v.14 no.8
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    • pp.153-159
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    • 2009
  • This study focuses on how the recognition of year-end-settlement affected on the effectiveness of individual tax return according to the tax law and its influence on the participation of employee. After the careful analysis, the founding of the satisfaction level of workers from the annual tax return can be summarized as follows: When the knowledge of year-end-settlement is high, it influences positively on the effectiveness of tax return for workers. The recognition of tax return system is the main ingredient to increase the participation of the tax return. Although the recognition of year-end-settlement did not affect on the satisfaction of workers directly, effectiveness of tax deduction and the participation in the year-end-settlement are closely linked to the satisfaction level of tax return, It is confirmed that when the recognition of year-end-settlement is high. the more people actively participate in year-end-settlement and it contribute to the positive effect on the satisfaction level of employee, As a result, it is very important to find the ways to promote and educate annual tax return system to workers as well as revise the tax law to maximize the year-end-settlement for employee.

Efficiency Evaluation of 12 Regions of RAI (Iranian Railway) Using Data Envelopment Analysis (DEA)

  • Movahedi, M.M.;Hoseini, S.M.
    • International Journal of Railway
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    • v.1 no.2
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    • pp.37-44
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    • 2008
  • Safe, fast, efficient and effective railway is a main factor of economic development level of every country. This paper uses the DEA method to evaluate and compare the efficiency of 12 Regions of RAI. In addition, we introduce the reference(s) unit(s) for every inefficient region, and determine the amount of input decrease and/or output increase need to become them efficient. Findings indicate that in 2006, 4 regions of 12 are in Constant Return to Scale (CRS) status and 7 of them in Variable Return to Scale (VRS), and the average efficiency is 0.730 and 0.888, respectively. In other words, RAI works 27 percent under its capacity. More over results indicate that Hormozgan, Khorasan, Tehran and Isfahan Regions have the most efficiency respectively. The results show that the 8 regions, have been working in Increaser Return to Scale and 4 reminder Regions in Decrease Return to Scale. According to this results, we submit the suitable suggestion for improve the efficiency of the inefficient regions.

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Regional Analysis of Particulate Matter Concentration Risk in South Korea (국내 지역별 미세먼지 농도 리스크 분석)

  • Oh, Jang Wook;Lim, Tea Jin
    • Journal of the Korean Society of Safety
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    • v.32 no.5
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    • pp.157-167
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    • 2017
  • Millions of People die every year from diseases caused by exposure to outdoor air pollution. Especially, one of the most severe types of air pollution is fine particulate matter (PM10, PM2.5). South Korea also has been suffered from severe PM. This paper analyzes regional risks induced by PM10 and PM2.5 that have affected domestic area of Korea during 2014~2016.3Q. We investigated daily maxima of PM10 and PM2.5 data observed on 284 stations in South Korea, and found extremely high outlier. We employed extreme value distributions to fit the PM10 and PM2.5 data, but a single distribution did not fit the data well. For theses reasons, we implemented extreme mixture models such as the generalized Pareto distribution(GPD) with the normal, the gamma, the Weibull and the log-normal, respectively. Next, we divided the whole area into 16 regions and analyzed characteristics of PM risks by developing the FN-curves. Finally, we estimated 1-month, 1-quater, half year, 1-year and 3-years period return levels, respectively. The severity rankings of PM10 and PM2.5 concentration turned out to be different from region to region. The capital area revealed the worst PM risk in all seasons. The reason for high PM risk even in the yellow dust free season (Jun. ~ Sep.) can be inferred from the concentration of factories in this area. Gwangju showed the highest return level of PM2.5, even if the return level of PM10 was relatively low. This phenomenon implies that we should investigate chemical mechanisms for making PM2.5 in the vicinity of Gwangju area. On the other hand, Gyeongbuk and Ulsan exposed relatively high PM10 risk and low PM2.5 risk. This indicates that the management policy of PM risk in the west side should be different from that in the east side. The results of this research may provide insights for managing regional risks induced by PM10 and PM2.5 in South Korea.

An Analysis of he Foreign Exchange Exposure and Determinants (개별기업의 환노출과 결정요인에 관한 연구)

  • Lee, Hyon-Sok
    • The Korean Journal of Financial Management
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    • v.21 no.2
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    • pp.65-98
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    • 2004
  • This paper analyzes the foreign exchange exposure and the influence of determinants on the significant exposure under various return horizons of US dollar and the Japanese yen. Also this research is extended to the existence of asymmetric exposures to foreign exchange risk. The exchange rate exposures exhibit significant time variations that are very large to represent changes in cash flow sensitivities, but the relation of the significant exposures and time variations is not monotonically increasing. The extent to which a firm is exposed to exchange rate fluctuations can be explained by the level of the growth potential, nm size and leverage. For the various return horizons, firms with a higher growth potential tend to have higher exposures. And the larger firms' exposures tend to be smaller. The influences of the level of export ratio and leverage vary with return horizons and each periods. It is found that the exposures of fins are asymmetric. The asymmetry is mainly explained by the market share hypothesis. The level of export ratio commonly influences the asymmetric exposures to the US dollar and the Japanese yen.

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