• 동남아시아연구
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• 제20권3호
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• pp.41-64
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• 2010

The recent global financial crisis triggered by the sub-prime mortgage debacle in the United States hit hard most ASEAN countries that have just recovered from the unprecedented economic crisis ten years ago. This paper, using individual time-series and panel data from 1990 to 2009, intends to investigate and compare the impacts of the two aforementioned economic crises on trade in the four developing ASEAN countries that encompass Indonesia, Malaysia, the Philippines and Thailand. In doing so, the paper traces the behaviors of main macroeconomic variables before and after the crises on graphs, and then estimates classical export and import demand functions that include real exchange rate, home and foreign GDPs as explanatory variables. In the estimation functions, two dummy variables are added to consider the effects of the two economic crises separately. Individual country data analyses reveal that by and large the 1997 economic crisis seems hit those ASEAN countries' exports and imports harder than the recent global financial crisis. Surprisingly the recent financial crisis turns out more or less statistically insignificant for those countries' export and import performances. The fixed effect model estimation using panel data of those four ASEAN countries also shows that the 1997 economic crisis had affected exports and imports of those countries negatively while the recent global financial crisis was not statistically significant. These results indicate that overall the effect from the 1997 crisis was more devastating than that of the recent global crisis for those ASEAN countries.

• 동남아시아연구
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• 제21권1호
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• pp.287-314
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• 2011

There are many versions of the thai folktale "Pla Boo Thong" in Thailand, which is a typical type of stepmother story and in many ways resembles Cinderella story. This study, the author took 6 versions, some from books, some from internet. The main story of those 6 version is consist of the death of mother, stepmother and step sister, the maltreat of the stepmother to the heroine, tiding over the critical moments with the help of the dead mother and others, getting married with the king and happy of the heroine, death of the heroine by the slander of stepmother, posing as a queen of the stepsister, reincarnation of the dead heroine, meeting with the king again, and punishment and the stepmother and stepsister. The main theme of this narrative is a conflict in the polygamic family and is followed by the pattern of the Cinderella tale such as the distinct contrast of Good and Evil. This tale also teaches teachings of Buddha such as the punitive justice, the promotion of virtue and reproval of vice, and forgiveness. And otherwise it gives the people the courage and hope to overcome fortitude in their life.

• 동남아시아연구
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• 제20권3호
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• pp.147-182
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• 2010

The purpose of this study is to examine the population changes in the nine Southeast Asian countries, including Cambodia, Lao People's Democratic Republic, Philippine, Indonesia, Malaysia, Myanmar, Singapore, Vietnam, and Thailand. According to the demographic transition theory which described the transition from high birth and death rates to low birth and death rates, the demographic changes in less developed countries, including the Southeast Asian countries, follow the general pattern of the population changes that the Western countries had experienced. However, this theory does not consider the fact that the demographic behaviors such as fertility and mortality tend to be ethnocentric (or particular). Therefore, I examine in this paper both the generality and particularity of the population changes in the Southeast Asia . The analytic results are consistent with my assumptions. Every country in the Southeast Asia will soon reach the third phrase of the demographic transition and meet population ageing process. However, the timings arriving at the third phrase can differ. Singapore which is the most developed country had firstly passed through the demographic transition and the highest level of population ageing. Cambodia and Lao People's Democratic Republic, the least developed countries, will lastly arrive at the third phrase and the ageing society. In addition, among the three countries which had experienced war or civil war, only Cambodia had experienced babyboom.

• The Journal of Asian Finance, Economics and Business
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• 제8권8호
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• pp.433-442
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• 2021

This research examines the financial performance of Village and Urban Community Funds (VFs). The study also explores the beneficial effects of the biggest microfinance programs in the world in the lower and lowest income provinces; specifically, whether VFs change household economic status or not. The data is collected uniquely from the village funds in four provinces of each region in Thailand which considerably reflect the government achievement. Accordingly, several financial ratios have been applied to evaluate the financial efficiency of the village funds, and the ordered logit model has been used to estimate the impact on economic variables of the poor. The findings show that the village funds do not improve the savings, income, consumption, and asset of VFs' members, although such funds have a higher financial performance. Furthermore, the VFs are a good substitute compared to the Bank for Agriculture and Agricultural Cooperatives (BAAC) credit because the cross-price elasticity of quantity of demand for such loans is positive. In particular, the loans from village funds are insignificantly correlated with the debt, income, asset, and economic status of VF members. This implies that Thai Village Funds do not alleviate definitely the serious problem about the financial situation in rural provinces. Thus, this microfinance does not change the economic well-being of the poor.

• 유통과학연구
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• 제19권1호
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• pp.75-87
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• 2021

Purpose: The objective of this research is to identify the core aspects of persuasive factors influencing consumer's experiential value towards using Augmented Reality (AR) try-on feature while shopping cosmetic products online. The conceptual framework of this study is adopted and integrated from the theoretical study on how narrative experience, media richness, and presence affect the formation of experiential value in the augmented reality interactive technology (ARIT) process. Research design, data and methodology: The sample (n = 550) were collected from online and offline questionnaires by using stratified random sampling and purposive sampling methods. Confirmatory Factor Analysis (CFA) and Structural Equation Model (SEM) were used to analyze the data to confirm goodness-of-fit of the model and hypothesis testing. Results: The results indicated that media richness induced higher experiential value (consumer ROI, playfulness, service excellence and aesthetics), followed by narrative experience and presence towards using AR try-on feature. Conclusions: Consumer's experiential value towards using AR try-on feature when shopping cosmetic products online rely on media richness, narrative experience and presence respectively. Therefore, marketing practitioners are recommended to develop the feature design and content to be more useful, authentic, user-friendly and entertaining to better connect and provide confidence to consumers when shopping cosmetics online.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.191-199
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• 2021

The study examines the causal relationship between financial development and economic growth through trade openness for the leading ASEAN countries (Indonesia, the Philippines, Malaysia, Singapore, Thailand, and Vietnam). The study employs a panel data for the period of 25 years spanning from 1995 to 2015 for the six countries, yielding a balanced panel of 150 observations. Fixed effect model (FEM) and random effect model (REM) are used for the panel data, following the Hausman test performed for model selection. The trivariate Granger causality test is also used to check for possible relationship between the variables. The results show that REM is chosen based on the Hausman test result, suggesting that the trade openness has a positive association with growth whereas the financial development is positively, but insignificantly associated with growth. The reason for this is that the financial development and economic growth may be related to each other. The results are, then, further explored and confirmed by the causality test. That is, the financial development and the economic growth, through the trade openness, are found to have bidirectional positive relationships. This implies that there would be shortcomings when ignoring the presence of trade openness, which positively impacts the relationship between finance and growth.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.1-13
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• 2021

Previous studies have found the significant adverse effects of coronavirus disease 2019 (COVID-19) on stock returns and volatility. The effects varied with the confirmed cases and deaths. However, the extent of the effects have never been measured exactly. This study proposes a measurement model for the COVID-19 effects. In the proposed model, stock returns in the COVID-19 period are weighted averages of pre-COVID-19 normal returns and COVID-19-induced returns. The effects are measured by the contributing weights of the COVID-19-induced returns. Kalman filtering is used to estimate the model for the world and Chinese markets, in combination with 10 markets - five most affected countries (United States, India, Brazil, Russia, and France) and five best recovering countries (Hong Kong, Australia, Singapore, Thailand, and South Korea). The sample returns are daily, obtained from the closing Morgan Stanley global investable market indexes. The full period is from September 24, 2018, to October 30, 2020, whereas the COVID-19 period is from November 18, 2019, to October 30, 2020. The contributing weights are significant and close to 100% for all markets. The COVID-19-induced returns replace the pre-COVID-19 normal returns; they are negatively auto-correlated and highly volatile. The COVID-19-induced returns are new normal returns in the COVID-19 period.

• 유통과학연구
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• 제19권9호
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• pp.41-52
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• 2021

Purpose: Virtual reality is a unique technology to distribute data and demonstrates user's understanding towards complex products. The objective of this research is to investigate the impact of virtual reality on real world purchase intention of automotive cutting tools in Thailand's exhibitions. Hence, the research framework was constructed by telepresence, perception narrative, authenticity, trustworthiness, functional value, aesthetics, and purchase intention. Research design, data and methodology: Samples were collected from 500 visitors who participated in the selected top two metalworking exhibitions. Mix sampling approach is applied by using non-probability sampling methods of purposive or judgmental sampling, quota sampling, and convenience sampling method, respectively to reach target samples. Confirmatory Factor Analysis (CFA) and Structural Equation Model (SEM) were used to analyze and confirm goodness-of-fit of the model and hypothesis testing. Results: The results indicate that authenticity, functional value, and trustworthiness induced higher experiential value towards purchase intention. Those variables are stimulated by telepresence and perception narrative towards VR experience. Conclusions: Consumer's purchase intention towards VR experience on engineering cutting tools rely on consumer's sense of authenticity, trustworthiness, and functional value. Hence, marketing practitioners in automotive companies are encouraged to develop VR which focusing on significant factors to enhance consumers purchase intention.

• The Journal of Asian Finance, Economics and Business
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• 제9권6호
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• pp.363-372
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• 2022

The purpose of this study is to investigate COVID-19's impact on firm survival, as well as the management accounting system's role in adjusting operation efficiency for business survival. Two sets of data comprising small enterprises in the service sector were used. The first business group serves customers who have changed their lifestyle to a new normal. The second business group serves customers who are affected by social distancing measures. The data was collected based on an in-depth interview method. The data was then evaluated using content analysis and analytic comparison. The results show that the COVID-19 situation positively impacts the business survival of the service businesses group that serves customers who have changed lifestyles. However, COVID-19 has a negative effect on the survival of service business groups that serve customers affected by social distancing measures. In addition, the management accounting used during COVID-19, small enterprises have analyzed the operating environment and used the information stored in the database to determine goals for the operation. This study provides comprehensive economic effects and the utilization of management accounting systems. The accounting systems helped to decide to adjust the operation process during the quick changing of the environment of the small enterprise in the service sector.

• Journal of Species Research
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• 제10권4호
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• pp.364-386
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• 2021

Six species of the family Kelleriidae, including four new species, are recorded from tropical waters of the Asia-Pacific, two of them from Phuket Island, Thailand, one each from Bohol Island, Philippines and Phu Quoc Island, Vietnam, and two from Kosrae Island, Micronesia. A new genus Kelleriella is proposed to accomodate one of these new species (Kelleriella quadridens n. sp.). There are three diagnostic features of the new genus: the terminal segment of antenna is armed with one strong claw and six setae, the armature of the maxilliped endopod is reduced, and the third exopodal segment of leg 4 is armed with four spines and five setae. The other three new species are Kelleria latipes n. sp., Kelleria phuketensis n. sp., and Kelleria robusta n. sp. As diagnostic features of these new species, their caudal rami are about 2.5, 3.2, and 1.72 times longer than wide, respectively, the exopod of leg 5 of them is smooth, without any process, about 1.9, 3.7, and 2.9 times longer than wide, respectively, and armed with one spine plus one seta in Kelleria latipes and Kelleria phuketensis or with 2 setae in Kelleria robusta. Additionally, Kelleria javaensis Mulyadi, 2009 is synonymized with Kelleria regalis Gurney, 1927 and Kelleria grandisetiger Kim, 2006 is synonymized with Kelleria andamanensis Sewell, 1949, and both species are redescribed.