• The Journal of Asian Finance, Economics and Business
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• 제8권8호
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• pp.365-373
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• 2021

Loan monitoring is a fundamental element of credit control. The importance of loan monitoring is to reduce loan defaults and to increase loan repayment performance. The ex-post monitoring can also increase the loan quality and thus a concern to many creditors in the market economy. This study identifies the role of ex-post monitoring on loan repayment performance in the context of rural Vietnam. Employing primary data from rural areas of Vietnam, this study investigates the impacts of ex-post monitoring on loan repayment performance of individual borrowers in terms of on-time loan repayment and the rate of loan repayment. Descriptions of borrower demographics, loan information, and ex-post monitoring show the initial picture of borrowers and loans in Vietnam's rural areas. Quantitative estimations that use the Probit and the Tobit model confirm the argument that better ex-post monitoring would result in better loan repayment performance in both on-time repayment and repayment rate. Thus, some policy suggestions have been made to improve the monitoring system in each financial institution. The study also indicates that some other factors too affect loan repayment performance such as borrower's characteristics (education, agricultural working area, and income) as well as loan's characteristics (loan size, maturity, and loan purpose).

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.1241-1248
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• 2021

This study employs data from CRSP/Compustat files for the period from 2003 to 2017 and applies a panel data analysis. The results of this study show a positive relationship between trade credit and the firm's market value, however, the results show a negative relationship if we test the impact of financial credit on the firm's market value. The results have direct policy implications for investors, the firm's management, and financial strategy. An implication of our study is that using trade credit as a source of financing may give a positive signal of the firm's creditworthiness and increase the firm's market value. Also, the results of our study indicate that the benefits of using trade credit may outperform the cost of using it as a source of finance. Prior studies examine the impact of financial leverage on the firm's value, however, this study contributes to the existing studies that examine the factors that affect the firm's market value by examining the impact of using trade credit finance on the firm's market value. The main limitation of this study is that the results are based on listed firms, using data from unlisted firms is not available.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.759-770
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• 2021

Using a DCC - GARCH model analysis, this paper examines the existence of financial contagion from the U.S. stock market to the Vietnamese and the Philippine stock markets during the global financial crisis and the COVID-19 pandemic crisis. We use daily data from the S&P 500 (U.S.), VN-Index (Vietnam), and the PSEi (the Philippines). As a result, there is no evidence of contagion from the U.S stock market to the Philippine stock market that can be found during global financial crisis, while the Vietnamese market is influenced by this effect. Besides, both these developing stock markets (the Vietnamese and Philippine stock markets) are influenced by the contagion effect in COVID-19 pandemic crisis. Another finding is that the contagion effect during the coronavirus pandemic crisis in Vietnam is smaller than that during the global financial crisis, however, the opposite is the case for the Philippines. It is noticed that the Philippines seems to be more affected by the contagion effect from the COVID-19 pandemic than Vietnam at the time of this study. Because financial contagion is important for monetary policy, asset pricing, risk measurement, and portfolio allocation, the findings in this paper may give some useful information for policymakers and investors.

• The Journal of Asian Finance, Economics and Business
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• 제9권5호
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• pp.239-250
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• 2022

A business's Enterprise Resource Planning (ERP) solution is software that fully integrates the services that businesses require, continuously updates business processes and department operations in real-time, and so aids in the successful management of enterprise resources. Previously, ERP solutions were often deployed for large enterprises, but along with the strong digital transformation process, many small and medium enterprises have been deploying Cloud ERP (CERP) solutions. The objective of the study is to measure the factors affecting the successful implementation of CERP solutions at small and medium enterprises and the impact of successful implementation of CERP solutions on business process re-engineering and enterprise performance. Using a quantitative method based on data collected from 230 small and medium enterprises in Vietnam that have been implementing CERP solutions, the results show that there are 5 factors affecting, which are Organizational ERP Strategic, Top management Commitment, Data Security, Training in ERP Projects, Organizational Culture. Research results also show that Successful implementation of CERP has a direct impact on business process re-engineering and business performance. Based on the results, the study has made a number of policy implications in the successful implementation of CERP towards re-engineering business processes to improve the performance of small and medium enterprises.

• The Journal of Asian Finance, Economics and Business
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• 제10권1호
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• pp.181-187
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• 2023

The study aimed to study the effect of the inflation rate, the real domestic product, the interbank lending interest rate, and the total deposits on credit facilities in Jordan for 2012-2021 through quarterly data. The study adopted the ARDL model. The study used the time series analysis method, as the study tests the stationarity of the time series. The results showed that the impact of inflation on the total credit facilities was negative. In contrast, the impact of each of the total deposits, real GDP, and the interest rate of interbank loans on the total credit facilities was positive and significant. The study recommended the need for the banking sector in Jordan to develop risk management mechanisms in a way that allows it to adapt to economic cycles and crises by conducting stress tests and developing scenarios that ensure the formation of sufficient provisions to meet emergencies. The study also recommended that the macroeconomic policy should be based on creating a stable macroeconomic environment that allows the efficient employment of resources in all economic sectors in a way that achieves high economic growth rates, which contributes to the promotion of economic recovery and is reflected in income. Hence, individuals have a greater ability to repay loans.

• The Journal of Asian Finance, Economics and Business
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• 제9권1호
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• pp.177-187
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• 2022

Theoretical literature agrees on the interaction between financial instability and economic activity but explains it's dynamic in two points of view: one is that the transmission mechanism occurs in one unique regime and the other reckons a shift of regime leads to the alteration of the transmission mechanism. This study aims to find evidence of the multi-regime transmission for ASEAN developing countries. The author employs the technique of Threshold vector auto regression using the financial stress index standing for financial instability. Monthly data is collected, covering a period long enough with many episodes of high stress in recent decades. There are two conclusions: (1) A financial shock has a negative and stronger impact on economic activity during a high-stress period than it does during a low-stress period; (2) the response of economic activity to a negative financial shock during high-stress periods is stronger than it is during normal times. The findings point to the importance of the financial stress index as an additional early warning indicator for the real economy sector, as well as the positive effect that a reduction in financial stress may have on economic activity, implying the importance of "unconventional" monetary policy in times of high financial stress.

• The Journal of Asian Finance, Economics and Business
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• 제7권9호
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• pp.219-228
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• 2020

The study investigates the impact of inflation rate on economic growth to find the best-fit model for economic growth in Vietnam. The study applied Vector Autoregressive (VAR), cointegration models, and unit root test for the time-series data from 1996 to 2018 to test the inflation impact on the economic growth in the short and long term. The study showed that the two variables are stationary at lag first difference I(1) with 1%, 5% and 10%; trace test indicates two cointegrating equations at the 0.05 level, the INF does not granger cause GDP, the optimal lag I(1) and the variables are closely related as R2 is 72%. It finds that the VAR model's results are the basis to perform economic growth; besides, the inflation rate is positively related to economic growth. The results support the monetary policy. This study identifies issues for Government to consider: have a comprehensive solution among macroeconomic policies, monetary policy, fiscal policy and other policies to control and maintain the inflation and stimulate growth; set a priority goal for sustainable economic growth; not pursue economic growth by maintaining the inflation rate in the long term, but take appropriate measures to stabilize the inflation at the best-fitted VAR forecast model.

• 토지주택연구
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• 제9권1호
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• pp.19-28
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• 2018

The purpose of this study is to explore an implication for new perspectives and concrete approaches to Korean Land Banking by analyzing the role of the Land Bank and the Land Storage System in the formation of Chinese Land Market, Land Management, and City Management. Time scope of this research focused on Chinese reform and opening since 1978, when study of land bank began to be actively performed in China. Research targets were Land Bank and Land Storage System related to Chinese Land System, and this research targeted Chinese Land Storage System as research object, which seem to have similar tendency to Korean Land Banking System, after examining the concept of Land Bank and Land Storage System. As the research method, this research arranged the contents and changes of policy based on discussed research documents over Chinese Land Bank and Land Storage System till today since the foundation of the nation. Later, this research investigated the realistic reflection and in-depth investigation of the problems through the operational mechanism and concrete case study of Chinese Land Storage System, a similar policy to Korean land bank, the researchers will look into the reality reflected and will carry out a in-depth study of the problems. China has established its characteristic socialistic market economy system, partly adopting the concept of capitalism, supporting socialism. This way, the researcher considers that such socialistic economic factors with strong welfare aspects can be adopted also in Korea, where capitalistic market economy system is maintained, and be utilized as a new measure for development strategy.

• 통상정보연구
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• 제13권1호
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• pp.179-196
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• 2011

본 연구는 본 논문에서는 1970년대 초반 Pennsylvania대학의 Thomas Saaty에 의하여 개발된 AHP를 이용하여 수출보험의 기능 중에서 상대적 중요도를 측정하여 향후 지속가능한 성장을 달성하기 위한 수출보험제도의 종합적인 전략을 수립하는데 도움을 주고자 하는데 연구의 목적이 있다. 분석결과 수출보험제도의 가능에 대한 우선순위를 도출하기 위해 2개의 평가기준과 4개의 개별 평가항목에 대하여 상대적 중요도인 가중치를 도출하였다. 2개의 평가기준 중에서는 신용공여의 기능이 63%를 나타내서 정책수단(37%)보다 중요한 기능으로 나타났다. 4개의 개별 평가항목에서는 금융보완적 기능이 60%로 해외수입업자에 대한 신용조사기능(40%)보다 중요하게 간주하고 있으며, 수출진흥정책수단의 기능이 69%로 31%를 보인 수출거래상의 불안제거 기능보다 중요하게 나타났다. 전체평가항목의 우선순위 비교결과는 금융보완적 가능이 38%로 가장 중요하게 인식하고 있으며, 그 다음으로 수출진흥정책수단의 기능(26%), 해외수입업자에 대한 신용조사기능(25%), 수출거래상의 불안제거기능(12%) 순으로 나타났다.

• International Journal of Computer Science & Network Security
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• 제21권11호
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• pp.271-275
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• 2021

The article assesses the role of the human factor in management, analyzes the personnel policy, as well as the style and methods of management at the enterprise. The purpose of the article is to study the place and role of personnel management in the general management system of an organization. Particular tasks of the research have been solved: the place and role of personnel management in the system of general management theory have been determined; determined the place of personnel management in the system of modern sciences.