• The Journal of Asian Finance, Economics and Business
• /
• 제7권11호
• /
• pp.779-788
• /
• 2020

Commercial banks play an important role as the main source of funding in the transition process of Vietnam as a market economy. As a result, enhancing the efficiency and productivity of Vietnamese banks can decrease the lending cost for individuals and enterprises. This study is to measure and analyze the productivity change of Vietnamese banking system in different ownership cohorts and sources of this change during the period of restructuring (2011-2019). The Hicks-Moorsteen total factor productivity index is utilised to measure the productivity change and to identify the sources of this change. For an empirical analysis, the data of 28 Vietnamese commercial banks from 2011 to 2018 is collected from their financial statements including balance sheets and income statements. The results show an increase of Vietnamese bank productivity due to the technological progress. While foreign and joint-venture banks are the most advanced cohort, state-owned banks have the lowest rate of productivity growth. The restructuring program negatively impacts scale efficiency and this measure attributes to a decline in the overall efficiency of the banks. We also found that state-owned commercial banks are the most efficient group in the sense that they can achieve the maximal level of revenue from a given amount of expense.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권11호
• /
• pp.357-366
• /
• 2020

The purpose of this study is to investigate the impact of internationalization on the business performance of firms in Laos as a transition economy. Using a panel dataset collected by the World Bank for 285 firms during the period 2009, 2012, and 2016 in the service and manufacturing industries, the two-steps Heckman regression results found robust evidence for the fact that the S-curve tie exists between the degree of internationalization and business performance of firms in Laos while controlling other factors. Specifically, if firms have a degree of internationalization lower than 0.4374, they will suffer losses due to the high cost of preparing for phase 1 which is market penetration. Then, when the degree of internationalization continues to increase from 0.4374 to 0.9131, firms will gain benefits from internationalization (phase 2), however, these benefits will deteriorate when the degree of internationalization is greater than 0.9131 (phase 3), meaning that firms will no longer be able to exploit economies of scale or advantages in target markets, or product cycles will fall into a state of decline. Interestingly, we also found that firms with a high concentration level of ownership and internationalization activities may achieve better performance than those with a low concentration of ownership and one which carried out internationalization activities.

• 통상정보연구
• /
• 제10권2호
• /
• pp.283-304
• /
• 2008

According to globalization and localization of world economics international trade payment method was also changed. A traditional payment was Letter of Credit basis, however it is being increased to various methods such as remittance, documentary collection(D/P, D/A) and open account. In order to acquire a secure export payment, exporters prefer to L/C basis which is guaranteed by a reliable bank. However, the L/C should bear a security so that importers would rather documentary collection than L/C. The reasons for the preference of collection payment rather than L/C are a low commission cost, the conversion of buyer's market from seller's market due to severe competition in the world market, transaction increase between main office and branches and a right to control the goods until executing the payment by exporters. Besides of them, collection payment can handle safer and faster than open account basis. However, the collection payment has a risk which it isn't guaranteed by bank for the payment so that I would suggest countermeasures to minimize the payment risk utilizing the collection basis as follows; using export credit insurance system, a large domestic credit report provider such as D&B for absolutely fresh and new information, a collection proxy service for overseas deferred credit and suggestion specifying to order B/L not straight one on consignee in order to transfer the right of ownership with endorsement without problem.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권10호
• /
• pp.373-383
• /
• 2021

This article aims to examine the one-way relationship between corporate social responsibility (CSR) and the financial performance of Vietnamese commercial banks, mainly focusing on the moderating role of ownership structure. Net interest margin (NIM), return on assets (ROA), and return on equity (ROE) are selected to represent the financial performance of the bank. CSR was measured using a multi-method approach that included both quantitative and qualitative methods. Corporate Social Responsibility Expenditure (CSRE) was estimated using financial data. The Corporate Social Responsibility Disclosure (CSRD) index was created using the content analysis method. Using a sample of Vietnamese commercial banks from 2012 to 2019 to perform regressions in the dynamic panel models with the two-step system generalized method of moments (GMM) estimator, the results show a positive effect of both CSRE and CSRD on the financial performance of the bank. Empirical evidence shows that the positive relationship between CSRE and financial performance is more robust in statecontrolled banks than non-state-controlled banks. In contrast, the positive impact of CSRD on the financial performance of state-owned commercial banks is weaker than that of private banks. Finally, the paper points out the limitations and proposes future research directions.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권3호
• /
• pp.1045-1052
• /
• 2021

The main purpose of this paper is to explore the relationship between financial inclusion and socio-economic and demographic factors. Ownership of bank accounts, availing of credit facility, and use of mobile banking were considered the major indicators of financial inclusion. To achieved this objective, the present study was conducted in the rural regions of three hill districts of Uttarakhand. 780 rural households were selected by using stratified and judgment sampling technique. To measure the association between the variables, binary logistic regression model was employed. The findings of the study revealed that there is a significant association of socio-economic variables with financial inclusion. The overall analysis of the study indicates that the likelihood of having bank account, usage of mobile banking facility, and availing credit facility increases with the increase in the financial literacy of an individual in hill rural regions of the state. Further, the study also indicates the vulnerability of women relative to that of men in both cases of mobile usage and availing credit. The findings of the study suggest to target the economically vulnerable section of population (as identified in case of having low financial inclusion) and enhancing the financial literacy in these regions.

• 경제분석
• /
• 제26권4호
• /
• pp.98-136
• /
• 2020

본 연구는 2006~2014년 통계청의 기업활동조사 자료를 이용하여 우리나라 제조업 기업의 수출중단 결정요인을 실증적으로 분석하였다. 이를 위해 생존분석 기법인 Complementary Log-Log 모형을 통해 우리나라 제조업 수출기업의 수출중단 가능성에 기업 및 산업 특성과 거시경제 변수들이 미치는 영향을 추정하였다. 분석결과, 기업 특성인 고용규모, 자본집약도, 무형자산 소유여부, 외국인 소유여부와 산업 특성인 신규기업의 고용대체율 등이 수출중단 가능성에 유의한 영향을 미치며, 거시변수 중 세계수요 증가, 국내수요 감소가 수출기업의 수출중단 가능성을 유의하게 감소시키는 반면, 환율의 영향은 유의하지 않은 것으로 추정되었다. 또한, 시장금리가 상승하면 금융시장 자금조달여건이 불리해짐에 따라 수출기업의 수출중단 가능성이 커지며, 부채비율이 높은 기업이 이러한 금융여건의 영향을 더욱 크게 받는 것으로 나타났다. 한편, 수출 주력산업인 경우 생산성이 높을수록 수출기업의 수출 중단 가능성이 감소하는 것으로 분석되었다. 본 연구결과는 기업 및 산업 특성과 거시 실물 변수 및 금융여건이 수출중단에 복합적으로 영향을 미치고 있음을 보여준다. 또한, 수출 주력산업 내 기업들의 생산성 제고와 기업의 재무건전성 향상이 수출기업들의 수출중단 가능성을 감소시키는 방향으로 작용할 수 있음을 시사한다.

• KDI Journal of Economic Policy
• /
• 제23권1_2호
• /
• pp.5-70
• /
• 2001

재벌의 은행소유를 반대하는 논거로서 흔히 제시되는 두 가지 이유, 즉 1) 은행이 재벌의 사금고가 될 우려가 있다거나, 2) 산업자본과 은행자본이 결합할 경우 이해상충관계를 악용할 가능성이 있다는 등의 이유는 정상적인 경우 성립하기 힘들다. 이 같은 우려는 이자율규제, 은행채무에 대한 정부의 명시적 암묵적 보증 등 은행에 대한 인위적 규제나 보호에 기인하는 것으로서 은행의 소유주가 누구인가와는 무관한 사항이다. 또한 이 같은 인위적 규제와 보호는 그것 자체가 은행산업의 심각한 파행과 위기를 반복적으로 초래하는 왜곡된 인센티브를 제공하고 있으므로 제거되지 않으면 안 된다. 왜곡된 인센티브 구조가 바로 잡힌다면 은행을 누가 소유해야 하는가의 문제는 무의미한 질문이 되고 말 것이다.

• 국제지역연구
• /
• 제12권2호
• /
• pp.27-53
• /
• 2008

이 논문은 세계 각국 은행들의 비전통적 수익활동의 수준을 결정하는 다양한 요인을 조사한 논문이다. 구체적으로 이 논문은 여러 국가의 광범위한 자료를 사용하여 비이자수익 수준을 결정하는 은행 고유요인과 나라별 특성요인을 검토하였다. 이 논문은 전통적인 미국중심 은행들에만 국한된 기존의 연구를 넘어선 것에 초점을 두고 있으며 세계 각국 은행들의 세부적인 자산부채관리에 대한 정보를 제공하고 있다. 이 논문의 결과는 은행의 크기, 대손충당금의 수준, 명시적 예금보험의 존재, 은행업에 대한 제한의 정도, 각국 은행의 자유도, 정부 그리고 외국인 소유지분의 크기, 각국의 지배구조 정도 즉 투명성이 은행의 비이자수익 수준을 결정하는데 양의 영향을 미치고 있음을 제시하고 있다. 전통적 대출과 자금조달에 대한 더 큰 의존성, 시장중심의 경제체제, 해당국에 다수의 감독당국의 존재 등은 비이자수익과 음의 관계를 가지고 있다. 하지만 이 논문은 해당국가의 경제발전수준은 이러한 변수들의 관련성의 크기에 유의하게 영향을 미치고 있음을 또한 제시하고 있다.

• 대한가정학회지
• /
• 제23권1호
• /
• pp.49-57
• /
• 1985

The central problem of purchasing houses is choice, which is accompanied by perception of risk. Perceived risk is defined as a risk perceived by a consumer subjectively in choice situations. The components of perceived risk are uncertainty and consequence. There are seven types of perceived risk in purchasing houses. Those are financial risk, functional risk, social risk, psychological risk, physical risk, time risk and future opportunity lost risk. The empirical survey about comsumer's purchasing Public Apartment suggests : 1) In general, rspondents perceive relatively high risk in purchasig Public Apartment. 2) Of seven risk types, financial, functionalm, future opportunity lost, time, and social risk correlate highest with overall perceived risk and explain the variance of it. 3) Physical and psychological risks don't correlate significantly with overall perceived risk. From the findings in empirical analysis, consumers are recommended to device riskreduction activities in purchasing Public Apartment. 1. Active information search is needed in purchasing Public Apartment in order to reduce overall perceived risk. 2. Housing concept should change from ownership to rental thinking. 3. Consumers should be accustomed to Housing Loans by bank. 4. Purchasing goals should be established clearly before purchasing houses. 5. Careful deliberation is required and informations from personal sources are useful.

• BMB Reports
• /
• 제50권3호
• /
• pp.111-116
• /
• 2017

Natural product drugs, or botanical drugs, are drugs composed of natural substances which have constituents with healthenhancing or medicinal activities. In Korea, government-led projects brought attention to botanical drugs invigorating domestic botanical drug industry. Foreign markets, as well, are growing bigger as the significance of botanical drugs stood out. To follow along with the tendency, Korea puts a lot of effort on developing botanical drugs suitable for global market. However, standards for approving drug sales vary by countries. And also, thorough standardization, certification, clinical studies and data of these will be required as well as data confirming safety and effectiveness. Meanwhile, as an international exchange in botanical drug market continues, the importance of plant resources was emphasized. Thus countries' ownership of domestic natural resources became vital. Not only establishing a systematic method to secure domestic plant resources, but also cooperation with other countries on sharing natural resources is essential to procure natural resources effectively. Korea started to show visible results with botanical drugs, and asthma/COPD treatment made out of speedwell is one example. Sufficient investment and government's active support for basic infrastructure for global botanical drugs will bring Korea to much higher level of botanical drug development.