• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.463-474
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• 2020

This study aims to investigate the impact of COVID-19 pandemic on the stock markets of sixteen countries. Pooled OLS regression, conventional t-test and Mann-Whitney test are used to estimate the results of the study. We construct a weekly panel data of COVID-19 new cases and stock returns. Pooled OLS estimation result shows that the growth rate of weekly new cases of COVID-19 negatively predicts the return in stock market. Next, the returns on leading stock indices of these countries during the COVID-19 outbreak period are compared with returns during the non-COVID period. We use a t-test and Mann-Whitney test to compare the returns. The results reveal that investors in these countries do not react to the media news of COVID-19 at the early stage of the pandemic. However, once the human-to-human transmissibility had been confirmed, all of the stock market indices negatively reacted to the news in the short- and long-event window. Interestingly, we noticed that the Shanghai Composite Index, which was severely affected during the short-event window, bounced back during the long-event window. This indicates that the Chinese government's drastic measures to contain the spread of the pandemic regained the confidence of investors in the Shanghai Stock Market.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.11-21
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• 2021

In the last few years, there is growing interest in the field of simultaneous equation estimation in finance due to the endogeneity problem caused by measurement errors, simultaneity, or omitted variables. This study aims to discuss the endogeneity problem in corporate financing decisions and investigate the interrelationship of financial decision-making such as investment decision, dividend decision, and external financing decision in Pakistan Stock Exchange (PSX) using two-stage least squares (2SLS) and generalized method of moment (GMM) estimation. The Bruech-Pagan test shows that the data has no heteroskedasticity issue and 2SLS is a better approach in the context of this study as compared to the GMM approach, and internal instruments are also sufficiently strong and valid. The three financial decision-making attributes are not jointly determined, and the dividend is influenced by one-sided investment. In the emerging stock market context, external financing and investment are not inter-related and did not affect each other. The question of whether the simultaneous equation estimation can be useful in the context of the emerging stock markets and newly-growing firms remains unanswered. The inclusive evidence shows that the theoretical link in the emerging stock market is difficult to prove like in developed stock markets.

• Animal Bioscience
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• v.35 no.5
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• pp.778-788
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• 2022

Objective: The objective of the study was to understand and document socio-economic characteristics, production parameters, challenges and management practices used by Fijian households which keep indigenous chickens. Methods: A survey involving 200 households was carried out in coastal and inland communities of Fiji's wet and semi-dry ecoregions. Data on the influence of ecoregion and location of households relative to the sea on management practices, challenges and productivity of indigenous chickens were analyzed using logistic regression and general linear model of SAS software. Results: Irrespective of location relative to the sea and ecoregion, households indicated that they kept indigenous chickens for food and income generation. The Welsummer was the most (p>0.05) preferred breed. Households in the semi-dry inland communities had the largest (p<0.05) flocks compared to those in semi-dry coastal communities and the wet region. Chickens in the semi-dry region performed better (p<0.05) than those in the wet region in terms of number of clutches per year and mature live weight. Predators and feed shortages were the biggest challenges faced by households in all areas. The mongoose was ranked as the most (p>0.05) common predator followed by domestic dogs. Most households in the wet ecoregion's coastal communities housed their chickens at night, whereas communities in semi-dry ecoregion housed their chickens most of the time (p<0.05). In all regions, no households sold their chickens to commercial markets (p>0.05). Households in semi-dry ecoregion were more likely (p>0.05) to sell their chickens at the local market place. Conclusion: The productivity of local chickens in Fiji is low because of feed shortage, predators such as the mongoose and lack of market linkages.

• Korea Trade Review
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• v.48 no.1
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• pp.263-285
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• 2023

The purpose of this study is to examine the business model, growth process, and success factors of the successful super app Gojek in the Southeast Asian and Indonesian markets. Gojek's business model analysis focused on the business canvas (9 blocks) that many companies have used to establish business models. Gojek's growth process was analyzed based on timeline. Gojek 1.0 is from the start of the ride hailing service. Gojek 2.0 is a leap forward into a life-friendly platform. Gojek 3.0 is a process of expanding and diversifying domestic and foreign businesses. Gojek 4.0 is a stage of changing to GoTo through mergers with Tokopedia, and setting a higher leap forward. Based on this, the success factors of Gojek are ① Hyperlocalization ② First mobile ③ A company that is loved through mission execution ④ Provide financial inclusion ⑤ Business expansion and diversification through mergers and acquisitions and partnerships ⑥ Entry into overseas markets ⑦ Attracting various partners and investment ⑧ Lock-in effect and hyperpersonalization. The implications obtained through this study and the limitations and direction of the study were discussed.

• Animal Bioscience
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• v.37 no.4_spc
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• pp.775-785
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• 2024

Pork production is a significant agricultural enterprise in the United States and Canada. The United States is the third-largest global producer of pork and Canada ranks seventh in pork production. The North American Free Trade Agreement and its successor, the U.S.-Mexico-Canada Agreement, have facilitated trade and integration between the two countries. The majority of production systems are modern and intensive, characterized by large vertically integrated farms using advanced technologies. Both nations benefit from their status as major producers of feed grains, with the United States leading in corn and soybeans, while Canada excels in canola and barley production. The regulatory frameworks for food safety, animal welfare, and environmental stewardship differ slightly, with the FDA and USDA overseeing these aspects in the United States, and Health Canada and the Canada Food Inspection Agency in Canada. The United States and Canada also have well-established distribution networks for pork products, relying on both domestic and international markets. Export markets play a crucial role, with the United States being a major importer of Canadian pigs, and both countries exploring opportunities in Asia. Despite a rise in global demand, domestic pork consumption trends differ, with per capita consumption remaining stable in the USA and declining in Canada. Changing consumer preferences, including a demand for ethically raised and locally sourced pork, may influence production practices. Future trends in pig production include a focus on consumer concerns, sustainability, disease prevention, reduction of antimicrobial use, and advancements in technology. The industry is adapting to challenges such as disease outbreaks and changing regulations, with a strong emphasis on animal welfare. Labor and workforce considerations, along with advancements in technology and automation, are expected to shape the efficiency of pork production in the future.

• Journal of Korean Society of Transportation
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• v.27 no.4
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• pp.195-206
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• 2009

The deregulation of aviation markets in Europe and the United Sates had led airlines to reconfigure their networks into hub-and-spoke systems. Recent trends of "Open Skies" in the Asian aviation market are also expected to prompt the reformation of airlines' networks in the region. A significant connectivity index is a crucial tool for airlines and airport authorities to estimate the degree of hub-and-spoke operations. Therefore, this paper suggests a new index, Continuous Indirect Connectivity Index (CICI), for measuring the coordination of airlines' flight schedules, applying it to the Asian, European and the American aviation markets. CICI consists of three components：(i) temporal connectivity to identify the attractiveness between connection flights, (ii) spatial connectivity to differentiate the attractiveness by de-routing distance with continuous linear function, and (iii) relative intensity to reflect the effect of direct flight frequency on transfer routes. CICI is evaluated to examine a casual relationship through regression analyses with two dependent variables of the number of transfer passengers and transfer rates. Compared with Danesi's index and Doganis' index through evaluation processes, CICI has a higher coefficient value of determination, implying that it explains the relationship between connectivity and transfer passengers more precisely.

• Journal of the East Asian Society of Dietary Life
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• v.18 no.6
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• pp.873-883
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• 2008

In this study, we assessed consumers' recognition of frozen foods via a survey study, and monitored the contamination levels of total aerobic bacteria and Escherichia coli in imported and domestic frozen seafoods obtained from five whole sale markets in Seoul. A questionnaire used to assess the perception of frozen food safety and the attitude towards frozen food usage was developed and distributed to 350 adults. A total of 324 questionnaires were subjected to frequency analysis and a chi-square test, using SPSS for Windows. The results of our survey study demonstrated that 44.6% of the respondent consumed frozen processed foods two to three times per month, with dumplings being the most frequently purchased. 70.5% of the respondents selected "convenient cooking" as the principal reason for their frozen food purchases. 58% of the respondents believed that frozen processed food is not safe to eat as the result of food additives and changes in quality during the shelf life period. Consumers most profoundly preferred frozen seafood originating from America, and preferred that from China least profoundly (81.2%). Microbiological analyses demonstrated that the aerobic plate counts of frozen seafood, regardless of origin, fulfill the standard requirements except for one frozen clam (6.6 Log CFU/g), which was a heated-frozen domestic product. In addition, E. coli was isolated from frozen cooked mussels, frozen raw clams and squids, thus indicating that more strict hygienic regulation for frozen seafoods will be necessary to protect the consumer in both domestic and foreign markets.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.2
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• pp.699-711
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• 2011

This study is to perform several major analyses to find any differences in the leverage between the pre- and post-period of the currency crisis. Moreover, another aspect is to investigate a financial aspect which has received relatively little attention to the firms and/or industries in the emerging capital markets in comparison to those in the advanced markets. The purpose of this empirical study is to confirm whether or not, it is myth or reality that Korean business conglomerate, chaebol, firms with subsidized financing from government-owned domestic financial institutions in the pre-financial turmoil, may still maintain their higher leverage, even after the crisis. It was found that firms belonging to the chaebol in Korea maintained higher average book-value and market-value based debt ratios, relative to their counterparts not belonging to the chaebol across all of the tested models. There were positive relationships of IND3(=the chemical industry) and Ind5(=the construction industry) to the book-value leverage. This study identified that there were no differences in the explanatory variables included, between the tested models (that is, without and with including the present value of an operating lease) related to each debt ratio. Since the Korean government continue to improve the corporate governance of the domestic firms in terms of accounting transparency and corporate ownership, it would be more efficient, if utilizing this "new" ratio considering an operating lease as an effective measurement of the level of leverage. In terms of the capital structure, it may also be possible for foreign firms to utilize and benefit from the results obtained in this study when operating their new businesses in Korea, given the economic circumstances such as the ongoing progress of the Korea-America FTA or the Korea-China FTA.

• Asian-Australasian Journal of Animal Sciences
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• v.31 no.7
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• pp.1007-1016
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• 2018

USA beef production is characterized by a diversity of climates, environmental conditions, animal phenotypes, management systems, and a multiplicity of nutritional inputs. The USA beef herd consists of more than 80 breeds of cattle and crosses thereof, and the industry is divided into distinct, but ofttimes overlapping sectors, including seedstock production, cow-calf production, stocker/backgrounding, and feedlot. Exception for male dairy calves, production is predominantly pastoral-based, with young stock spending relatively brief portions of their life in feedlots. The beef industry is very technology driven, utilizing reproductive management strategies, genetic improvement technologies, exogenous growth promoting compounds, vaccines, antibiotics, and feed processing strategies, focusing on improvements in efficiency and cost of production. Young steers and heifers are grain-based diets fed for an average of 5 months, mostly in feedlots of 1,000 head capacity or more, and typically are slaughtered at 15 to 28 months of age to produce tender, well-marbled beef. Per capita beef consumption is nearly 26 kg annually, over half of which is consumed in the form of ground products. Beef exports, which are increasingly important, consist primarily of high value cuts and variety meats, depending on destination. In recent years, adverse climatic conditions (i.e., draught), a shrinking agricultural workforce, emergence of food-borne pathogens, concerns over development of antimicrobial resistance, animal welfare/well-being, environmental impact, consumer perceptions of healthfulness of beef, consumer perceptions of food animal production practices, and alternative uses of traditional feed grains have become increasingly important with respect to their impact on both beef production and demand for beef products. Similarly, changing consumer demographics and globalization of beef markets have dictated changes in the types of products demanded by consumers of USA beef, both domestically and abroad. The industry is highly adaptive, however, and responds quickly to evolving economic signals.

• Journal of the East Asian Society of Dietary Life
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• v.6 no.2
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• pp.221-227
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• 1996

This study was performed to analyze general components such as, organic acids, alcohols and minerals In persimmon vinegar made with quick fermented using deteriorated sweet persimmon and four commercial vinegars (rice vinegar, apple vinegar, brewed vinegar, traditional persimmon vinegar) purchased In local markets for quality evaluation. The pH and total acidity of all vinegars were in the range of 2.02-3.02 and 4.62-9.78%, respectively The pH of quick fermented persimmon vinegar (A) was relatively higher than that of others. Acidity was the highest in brewed vinegar. Total sugar content was in the range of 0.45-6.43%. These contents were high In were high In traditional persimmon vinegar wherase low in brewed vinegar. Total nitrogen and amino-nitrogen were in the range of 0.025-0.046% and 0.015-0.029%. Organic acids were identified as acetic acid, citric acid, tartaric acid malic acid, succinic acid, formic acid and oxalic acid. While major minerals of all vinegars were Mg, Ca, and Na, minor minerals were Zn, Cu, Mn and Fe.