• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.363-370
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• 2022

The study aims to probe the impact of foreign ownership on Vietnamese listed firms' capital structure. This study employs panel data of 288 non-financial firms listed on the Ho Chi Minh City stock exchange (HOSE) and Ha Noi stock exchange (HNX) in 2015-2019. In this research, we applied a Bayesian linear regression method to provide probabilistic explanations of the model uncertainty and effect of foreign ownership on the capital structure of non-financial listed enterprises in Vietnam. The findings of experimental analysis by Bayesian linear regression method through Markov chain Monte Carlo (MCMC) technique combined with Gibbs sampler suggest that foreign ownership has substantial adverse effects on the firms' capital structure. Our findings also indicate that a firm's size, age, and growth opportunities all have a strong positive and significant effect on its debt ratio. We found that the firms' profitability, tangible assets, and liquidity negatively and strongly affect firms' capital structure. Meanwhile, there is a low negative impact of dividends and inflation on the debt ratio. This research has ramifications for business managers since it improves a company's financial resources by developing a strong capital structure and considering foreign investment as a source of funding.

• Advances in aircraft and spacecraft science
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• v.9 no.1
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• pp.69-93
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• 2022

Reduced graphene oxide (rGO) is one of the derivatives of graphene, which has drawn some experimental research interests in recent years however, numerical research studying the mechanical behaviors of composites made of rGO has not been taken into consideration yet. The objective of this research is to investigate the buckling, and free vibration of functionally graded reduced graphene oxide reinforced nanocomposite (FG rGORC) plates employing isogeometric analysis (IGA). The effective Young's modulus of rGORC is determined based onthe Halpin-Tsai model. Four different FG distribution types of rGO are considered varying across plate thickness. Besides, the refined plate theory is used based on Reddy's third-order function. To capture the size effect, modified couple stress theory (MCST) is employed. A comprehensive study is provided examining the effect of various parameters including rGO weight fraction, FG distribution types, boundary conditions, material length scale parameter, etc. Our obtained results show that the addition of only 1% of uniformly distributed rGO into epoxy plates leads to the fundamental frequency and critical buckling load 18% and 39% higher than those of pure epoxy plates, respectively.

• Structural Engineering and Mechanics
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• v.84 no.5
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• pp.675-684
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• 2022

The conventional single-degree-of-freedom (SDOF) system is appropriate for dynamic response analysis of paneltype structures without an opening. However, the typical building structures usually have four-sided fixed walls having an opening. Therefore, it may induce a considerable error when dynamic responses are estimated based on the conventional SDOF system, since the SDOF system cannot consider the effect of an opening during the SDOF analysis. For this reason, this study proposes a new SDOF system to consider the effect of an opening by adjusting its load-mass factor. The load-mass factor can be modified based on the assumption that the behaviors of the four-sided fixed wall with an opening is very similar to the behaviors of the same size wall without an opening, when the uniformly distributed blast loaded area is identical. In order to confirm a feasibility of the proposed SDOF system, a series of numerical simulations were carried out for the four-sided fixed reinforced concrete (RC) wall under a blast load. The dynamic responses estimated from the proposed SDOF system and the conventional SDOF system were compared with the dynamic responses evaluated from the finite element (FE) analysis. Especially, for the maximum dynamic responses except for 50% opening case, the proposed SDOF system had about 1.1% to 25.7% normalized errors while the conventional SDOF system had about 4.1% to 49.1% normalized errors.

• Journal of Korean Public Health Nursing
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• v.37 no.1
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• pp.97-110
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• 2023

Purpose: This study sought to determine the effect of the competence of nurses and their, work environment on the quality of nursing service in long-term care hospitals using the Donabedian model as a theoretical framework. Methods: This descriptive investigative study analyzed nursing competency, the work environment, and nursing service quality in a group of 182 nurses directly in charge of patient care at long-term care hospitals in special cities, metropolitan cities, and small and medium-size cities. The data were analyzed using IBM SPSS/WIN 27.0 version. Results: In long-term care hospitals, nurses' competence (r=.674, p<.001) and work environment (r=.444, p<.001) were correlated with quality of nursing service, and the nurses' competence was correlated with the work environment (r=.443, p<.001). The factors affecting the quality of nursing service in long-term care hospitals were competence, the work environment, and the age of nurses. Conclusion: In this study, both competence and the work environment of nurses were observed to be important factors in improving nursing service quality in long-term care hospitals. Therefore, efforts aimed at enhancing these factors are necessary to ensure the high quality of nursing service in these hospitals.

• Advances in nano research
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• v.12 no.3
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• pp.231-251
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• 2022

Dynamic behavior of temperature-dependent Reddy functionally graded (RFG) nanobeam subjected to thermomagnetic effects under the action of moving point load is carried out in the present work. Both symmetric and sigmoid functionally graded material distributions throughout the beam thickness are considered. To consider the significance of strain-stress gradient field, a material length scale parameter (LSP) is introduced while the significance of nonlocal elastic stress field is considered by introducing a nonlocal parameter (NP). In the framework of the nonlocal strain gradient theory (NSGT), the dynamic equations of motion are derived through Hamilton's principle. Navier approach is employed to solve the resulting equations of motion of the functionally graded (FG) nanoscale beam. The developed model is verified and compared with the available previous results and good agreement is observed. Effects of through-thickness variation of FG material distribution, beam aspect ratio, temperature variation, and magnetic field as well as the size-dependent parameters on the dynamic behavior are investigated. Introduction of the magnetic effect creates a hardening effect; therefore, higher values of natural frequencies are obtained while smaller values of the transverse deflections are produced. The obtained results can be useful as reference solutions for future dynamic and control analysis of FG nanobeams reinforced nanocomposites under thermomagnetic effects.

• Asia-Pacific Journal of Business
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• v.13 no.4
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• pp.163-175
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• 2022

Purpose - This study introduces a methodology for finding the optimal tracking error of active stock funds. Tracking error is commonly used in risk budgeting techniques as a concept of cost for alpha creation. Design/methodology/approach - This study uses a post-optimal smart beta portfolio that maximizes alpha under the given tracking error constraint. Findings - As a result of the analysis, the smart beta strategy that maximized alpha under the constraint of 0.15% daily tracking error shows the highest IR. This means the maximum theoretically achievable efficiency. In this regard, a fixed-effect panel regression analysis is conducted to evaluate the active efficiency of domestic stock funds. In addition to control variables based on previous studies, the effect of tracking error on alpha is analyzed. The alpha used in this model is calculated using the smart beta portfolio according to the size of the constraint of the tracking error as a benchmark. Contrary to theoretical estimates, in Korea, the alpha performance is maximized under a daily tracking error of 0.1%. This indicates that the active efficiency of domestic equity funds is lower than the theoretical maximum. Research implications or Originality - Based on this study, it is expected that it can be used for active risk management of pension funds and performance evaluation of active strategies.

• Journal of Distribution Science
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• v.21 no.8
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• pp.69-82
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• 2023

Purpose: This research aims to explore the effects of airline's pricing and service quality through service distribution process on repurchasing intention of the air passengers with meditations of passenger satisfaction and airline brand. Research design, data and methodology: This paper particularly focused on employing the moderating effect with two different market segmentations, namely leisure and corporate purpose travelers, in the Korean market. The total sample size of this research is 363 respondents of the general public in Korea. For the methodology of this research, structural equation modeling (SEM) was utilized for the statistical analysis. Results: It figured out that passenger satisfaction is ultimately the most important among variables of price, service quality and repurchase intention for both groups. On the contrary, the relationships, between price and airline brand in both groups, and between airline brand and repurchase intention in the leisure travel only, were not noted as beneficial effects. Conclusions: More noteworthy was that airline brand had a positive influence on repurchase intention in the corporate travel group. Based on this research, the results will deliver the contributions to the commercial airlines in the future.

• Proceedings of the Plant Resources Society of Korea Conference
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• 2023.04a
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• pp.69-69
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• 2023

Safflower seeds, classified as a member of the Asteraceae family, a dicotyledonous plant, contain linoleic acid as a major component, known for its pharmacological effect of strengthening bones. Additionally, safflower seeds have been reported to have pharmacological effects on vascular diseases such as atherosclerosis. In this study, we investigated the anti-obesity effect of safflower seed extract by examining its impact on adipocyte differentiation using Oil Red O staining, triglyceride quantification, and GPDH activity measurement. The results showed that safflower seed extract significantly inhibited adipocyte differentiation. Furthermore, we confirmed that safflower seed extract improved body weight, liver weight, adipose tissue size, glucose, and triglyceride levels in a high-fat diet-induced mouse model. These findings suggest that safflower seed extract exhibits potent anti-obesity activity both in vitro and in vivo and has the potential to be developed as a material for future anti-obesity therapies.

• East Asian Economic Review
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• v.27 no.3
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• pp.179-211
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• 2023

This paper investigates the relationship between the spread of COVID-19 and time preference. In contrast to previous studies that compared time preferences before and during the pandemic, this study estimates time preferences during the COVID-19 period using eight surveys conducted over two years. Additionally, a regression analysis was conducted on the number of new COVID-19 cases and the time elapsed since the outbreak, with estimated time preference as the dependent variable. Despite a small sample size, statistically significant results were obtained, showing that as the number of new cases increased, time preference also increased. However, this effect diminished over time and disappeared by the end of 2021 in Japan. This may be due to the public's growing familiarity with the risks of COVID-19 and the availability of vaccines and treatments. Despite a significant increase in new cases in 2022, time preference was lower than immediately after the outbreak, and this was reflected in private investments. Immediately after the outbreak of COVID-19, private investments decreased by 12% compared to the previous year, but the investments are returning in 2022 despite the surge in the number of cases. The trend of time preference explains the trend of Japanese private investments very well.

• Asia Marketing Journal
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• v.14 no.1
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• pp.1-24
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• 2012

Nowadays, customer satisfaction has been one of company's major objectives, and the index to measure and communicate customer satisfaction has been generally accepted among business practices. The major issues of CSI(customer satisfaction index) are three questions, as follows: (a)what level of customer satisfaction is tolerable, (b)whether customer satisfaction and company performance has positive causality, and (c)what to do to improve customer satisfaction. Among these, the second issue is recently attracting academic research in several perspectives. On this study, the second issue will be addressed. Many researchers including Anderson have regarded customer satisfaction as core competencies, such as brand equity, customer equity. They want to verify following causality "customer satisfaction → market performance(market share, sales growth rate) → financial performance(operating margin, profitability) → corporate value performance(stock price, credit ratings)" based on the process model of marketing performance. On the other hand, Insoo Jeon and Aeju Jeong(2009) verified sequential causality based on the process model by the domestic data. According to the rejection of several hypotheses, they suggested the balance model of marketing performance as an alternative. The objective of this study, based on the existing process model, is to examine the causal relationship between customer satisfaction and corporate value performance. Anderson and Mansi(2009) proved the relationship between ACSI(American Customer Satisfaction Index) and credit ratings using 2,574 samples from 1994 to 2004 on the assumption that credit rating could be an indicator of a corporate value performance. The similar study(Sangwoon Yoon, 2010) was processed in Korean data, but it didn't confirm the relationship between KCSI(Korean CSI) and credit ratings, unlike the results of Anderson and Mansi(2009). The summary of these studies is in the Table 1. Two studies analyzing the relationship between customer satisfaction and credit ratings weren't consistent results. So, in this study we are to test the conflicting results of the relationship between customer satisfaction and credit ratings based on the research model considering Korean credit ratings. To prove the hypothesis, we suggest the research model as follows. Two important features of this model are the inclusion of important variables in the existing Korean credit rating system and government support. To control their influences on credit ratings, we included three important variables of Korean credit rating system and government support, in case of financial institutions including banks. ROA, ER, TA, these three variables are chosen among various kinds of financial indicators since they are the most frequent variables in many previous studies. The results of the research model are relatively favorable : R², F-value and p-value is .631, 233.15 and .000 respectively. Thus, the explanatory power of the research model as a whole is good and the model is statistically significant. The research model has good explanatory power, the regression coefficients of the KCSI is .096 as positive(+) and t-value and p-value is 2.220 and .0135 respectively. As a results, we can say the hypothesis is supported. Meanwhile, all other explanatory variables including ROA, ER, log(TA), GS_DV are identified as significant and each variables has a positive(+) relationship with CRS. In particular, the t-value of log(TA) is 23.557 and log(TA) as an explanatory variables of the corporate credit ratings shows very high level of statistical significance. Considering interrelationship between financial indicators such as ROA, ER which include total asset in their formula, we can expect multicollinearity problem. But indicators like VIF and tolerance limits that shows whether multicollinearity exists or not, say that there is no statistically significant multicollinearity in all the explanatory variables. KCSI, the main subject of this study, is a statistically significant level even though the standardized regression coefficients and t-value of KCSI is .055 and 2.220 respectively and a relatively low level among explanatory variables. Considering that we chose other explanatory variables based on the level of explanatory power out of many indicators in the previous studies, KCSI is validated as one of the most significant explanatory variables for credit rating score. And this result can provide new insights on the determinants of credit ratings. However, KCSI has relatively lower impact than main financial indicators like log(TA), ER. Therefore, KCSI is one of the determinants of credit ratings, but don't have an exceedingly significant influence. In addition, this study found that customer satisfaction had more meaningful impact on corporations of small asset size than those of big asset size, and on service companies than manufacturers. The findings of this study is consistent with Anderson and Mansi(2009), but different from Sangwoon Yoon(2010). Although research model of this study is a bit different from Anderson and Mansi(2009), we can conclude that customer satisfaction has a significant influence on company's credit ratings either Korea or the United State. In addition, this paper found that customer satisfaction had more meaningful impact on corporations of small asset size than those of big asset size and on service companies than manufacturers. Until now there are a few of researches about the relationship between customer satisfaction and various business performance, some of which were supported, some weren't. The contribution of this study is that credit rating is applied as a corporate value performance in addition to stock price. It is somewhat important, because credit ratings determine the cost of debt. But so far it doesn't get attention of marketing researches. Based on this study, we can say that customer satisfaction is partially related to all indicators of corporate business performances. Practical meanings for customer satisfaction department are that it needs to actively invest in the customer satisfaction, because active investment also contributes to higher credit ratings and other business performances. A suggestion for credit evaluators is that they need to design new credit rating model which reflect qualitative customer satisfaction as well as existing variables like ROA, ER, TA.