• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.1053-1064
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• 2020

This study aims to determine the perceptions of Islamic Financial Cooperative (BMT) managers in the Indonesian BMT Association on the acceptance of core banking technology. The Technology Acceptance Model (TAM) is used because it has simple theoretical characteristics (parsimony) and is supported by data (verifiability). This study develops the TAM model by integrating new variables -perceptions of maqashid sharia, perceptions of economies of scale, perceptions of market structure, and perceptions of technology procurement costs. These new variables are used to measure intention in using technology and actual usage in BMT operations. This study used PLS-SEM with smartPLS 3. The study was conducted in Central Java in six ex-Residency at 35 BMT with 300 respondents consisting of six levels of position level. The research found that maqashid sharia and market structure directly influenced the intention of BMT managers in using core banking technology. This new finding strengthens a theoretical model regarding the role of maqashid sharia in the acceptance of information technology in BMT. In addition, the perception of economies of scale has no significant effect on intention in using technology or its actual usage. The perception variable of technology procurement costs was found to have no significant effect on intention in using technology.

• The Journal of Asian Finance, Economics and Business
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• 제4권4호
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• pp.39-49
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• 2017

Religious intolerance has become a common feature of many countries in recent times. Studies have revealed a worldwide increase in government regulations and social hostilities against religious beliefs and practices. The stifling impact of both government and society on the market for religion, warrants closer scrutiny. This study examines the relationship between government regulations and social hostilities towards religious beliefs and practices, for the period of 2001-2011 for a sample of 45 European countries. The Generalized Method of Moments dynamic panel estimation technique is employed to analyze the micro panel dataset of 45 European countries, to establish the possible relationships that may exist between these variables. The theoretical framework for this study is based on the Religious Economies Theory and the Supply Side Theory of Religion. The results of this study show evidence of the positive relationship between government regulations and social hostility. Interestingly, the study also revealed that the impact of social hostility on the level of government restrictions is smaller in magnitude compared to the reverse impact of government restrictions on social hostilities, indicating the dangerous role played by governments in inciting social hostilities, when they regulate or restrict religious beliefs and practices.

• The Journal of Asian Finance, Economics and Business
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• 제7권8호
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• pp.645-651
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• 2020

The concept of social entrepreneurship (SE) is gaining attention in developing economies for the purpose of greater societal welfare maximization. Still, findings in the field of SE studies have been riddled with conflicting results and counterstatement. Also, the determinants of developing SE are not robustly investigated in developing economies like Bangladesh. This context has mobilized the authors of this current study to focus on determining student's intention to pursue SE as their career choice. Hence, the study aims to examine the predictive determinants of social entrepreneurial intentions (SEI) among Bangladeshi students. The study has investigated the influence of entrepreneurial self-efficacy, social support, prior experience, and educational support on SEI. The survey was conducted from a public university of Bangladesh, and 231 students participated in the study. Questionnaire items under each construct variable have been adopted from pre-tested research studies. Five-point Likert scale questionnaire was applied to measure the variables. SPSS version 23.0 has been used for statistical analysis through which correlation and multiple regression analysis were conducted to measure the impact of the independent variables on SEI. Results exhibited that self-efficacy, social support, and educational support positively and significantly predicted SEI, while prior experience does not influence SEI.

• The Journal of Asian Finance, Economics and Business
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• 제7권10호
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• pp.591-599
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• 2020

This study examines how the health of the banks in ASEAN-3 countries namely Indonesia, Malaysia and Thailand respond to the change in exchange rates and foreign interest rates in four large economies. The transmissions of the two external factors through domestic factors in each ASEAN-3 countries eventually affects Non-Performing Loan (NPL) of commercial banks. This study uses the monthly time series data and the renowned Structural Vector Autoregressive (VAR) model comprising five variables, namely exchange rate, foreign interest rate, domestic interest rate, money supply, and non-performing loan (NPL). The results indicate that there are different effects between ASEAN-3 countries, which can be classified as short-run effect and long-run effect. In the long run effect, external factors have a dominant role in determining NPL in ASEAN-3 countries. Yuan has the biggest effect on Malaysia's NPL, while Indonesia is more affected by European interest rates rather than the fluctuation of the US currency and China's interest rates. Among ASEAN-3 countries, Malaysia is the one that is the most vulnerable to external factors. While Thailand's NPL is affected dominantly by domestic factors. This study shows that the Fed Funds Rate (US official interest rate) is not always the dominant factor affecting the health of domestic banks in ASEAN-3.

• KDI Journal of Economic Policy
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• 제35권1호
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• pp.33-61
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• 2013

본 논문의 목적은 생애별 지원체계를 국가별로 비교하고, 거기서 경제성장과 정부재정의 지속성에 대한 함의를 도출해 내는 데 있다. 가족지원체계는 점차 그 중요성이 줄어듦에도 불구, 한국을 비롯한 몇몇 아시아 국가에서 유의하게 나타났다. 공공지원체계(사회보장)의 경우 한국은 OECD 국가 내에서 매우 낮은 수준을 보였는데, 이러한 낮은 사회보장이 높은 저축률과 자본축적에 기여한 긍정적인 측면은 인정된다. 하지만 지난 10년 동안 한국에서의 사회보장은 매우 빠른 속도로 변화하였다. 한국의 자본시장과 노동시장이 이러한 변화에 어떻게 반응하는 가가 향후 정부의 정책방향을 결정하는 데 중요한 요인이 될 것이다.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.747-757
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• 2021

The primary purpose of the study is to investigate the volatility spillover from financial uncertainty (FU) of the United States (US) to the stock markets of SAARC member countries including India, Sri-Lanka, Pakistan, and Bangladesh. The empirical literature overlooked SAARC countries and the FU index. Based on the estimation method, the data of FU is available for three different forecast horizons including 1-month, 3-months, and 12-months. For empirical analysis, monthly data is used from February 2013 to September 2019. EGARCH model is employed to investigate the volatility spillover effects. The findings of the study show that the spillover effect of FU varies with the forecast horizon. The FU with a higher forecast horizon has a significant spillover effect on more countries. The spillover effect of US financial uncertainty is negative in most of the SAARC countries. Bangladesh stock market is influenced by FU with all three forecast horizons whereas the volatility of the Pakistan stock market is not influenced by FU with any forecast horizon. The findings are consistent with the concept of "limited trade openness" in the financial markets of emerging economies. The emerging economies avoid financial market openness to minimize the risk of spillover of other countries.

• The Journal of Asian Finance, Economics and Business
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• 제9권7호
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• pp.219-229
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• 2022

This study aims to analyze the economies of scale of the cottage industry for coconut sugar production in Banyumas, Indonesia. This study applies a survey method to coconut sugar craftsmen. Data analysis was performed by regression analysis based on the Cobb-Douglas production function approach. The findings indicated that decreasing returns to scale was a problem for the domestic production of coconut sugar. These findings show that the production of coconut sugar is not very productive. Labor and financial capital inputs have a significant positive share but the resulting increase in output is less proportional than the increase in the two inputs. Social capital, experience, and education do not affect industrial performance. To increase input productivity and production efficiency, it is necessary to apply more effective production techniques and technologies to produce quality products so that the selling price can be higher. Additionally, it is required to enhance the sap's quality through its extraction methods and the regrowth of high-yielding coconut tree varieties. From the institutional aspect, the development of this industry requires stronger partnerships with related parties such as local governments, exporting companies, cooperatives, and universities through research and development.

• East Asian Economic Review
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• 제26권2호
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• pp.119-142
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• 2022

This paper uses social network theory and the internationalization process model (IPM) to determine how external network linkages influence the location choices of multinational enterprise from emerging economies (EMNEs); specifically, whether past alliance experience influences location choices and its impact on the subsequent entry of MNEs from emerging economies. This paper applies survival analysis using initial and secondary investments from 2,000 Chinese A-share listed companies that entered 90 countries between 1997 and 2018 to analyze both the initial and subsequent entries of Chinese outward foreign direct investments (OFDIs) in major host countries. The findings indicate that an MNE's previous experience with a company from a particular country will increase the likelihood of an initial investment in that country. Previous alliance experience may accelerate the foreign investment process of EMNE and stimulate firms making a commitment to a position in a foreign network, regardless of cultural distance and stage of internationalization. Alliance before initial investment may increase the likelihood and speed of entering a host country as wholly owned subsidiaries and that network linkages not only significantly influence the internationalization process of small and medium-sized enterprises, as indicated by the IPM, but also that of large listed firms.

• The Journal of Asian Finance, Economics and Business
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• 제9권3호
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• pp.347-354
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• 2022

This article examines the influence of Basel III reforms, risk management, and banking sector efficiency on banks' financial stability in emerging countries. The data for this study is collected from various sources. Based on the GDP classification of IMF, the top 22 countries were selected as the sample. The sampling frame includes all six regions of the world including 482 banks and 3022 observations in total. The empirical analysis is carried out by estimating the random effects models. It is found that the effects of capital buffer, liquidity, and risk management practices are significant on financial stability. It is also noticed that the capital buffer has a constructive and significant influence on financial stability. However, liquidity management shows a mixed impact, as in some countries, its impact is positive and significant while, in other countries, it is insignificant. Risk management practices have an overall positive influence on financial stability in the case of large economies. However, results are insignificant in the case of small economies. Bank-specific variables, namely profitability, size, and efficiency have a positive whereas, loan quality has a negative impact on financial stability in the emerging countries. GDP has a positive impact on financial stability whereas inflation and unemployment both have a negative effect on financial stability.

• 수완나부미
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• 제6권2호
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• pp.65-84
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• 2014

Asia-Pacific Confucian Capitalism is comparable to Atlantic Protestant Capitalism in terms of economic success, as most economies influenced by Confucian culture in East Asia and Southeast Asia are economically well-off in the past 50 years, save for Vietnam. This paper seeks to determine whether Vietnam can follow the path of development of the other Confucian economies, especially in the context of globalization and upcoming regional integration. In the paper, I will use an analytic framework derived from Weber and Huntington to examine the cultural dimension of Vietnam's economic development. In the domestic field, I argue that the core values of Confucianism continue to contribute to the development in Vietnam in many ways; yet one critical element needs to be tapped: the political culture of strong leadership and efficient bureaucracy. Confucian values for development may be compromised by pushing for democratization too early in Vietnam. On a positive note, Confucianism for Vietnam is instrumental in its regional integration into Southeast Asia since it is integrative rather than exclusive. Vietnam's cultural similarity with China may however lead to too much passive learning and conflicts. In conclusion, Confucianism is a valuable asset for Vietnam's economic development, but challenges have to be addressed in order for Vietnam to become the next tiger.