• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.10
• /
• pp.29-38
• /
• 2022

Ready-made Garments (RMG) export earnings, which are almost 80% of the total exports of Bangladesh, have been recognized as one of the main catalysts for the recent development of the country. Therefore, the need to determine whether the RMG export had served as a mechanism for increasing the GDP growth as well as the economic development of the country is topical and pressing. We have applied the Johansen Co-integration test and Vector Error Correction Model (VECM) to reveal the linkage of RMG export earnings and other variables with the GDP growth rate in Bangladesh. Using data from 1990 to 2020 for Bangladesh, we have found long-run as well as short-run associations among RMG Export earnings, Foreign Direct Investment (FDI), and GDP growth. A co-integration among the variables is validated through the Johansen Co-integration test. Moreover, a causal correlation running from RMG export earnings to GDP was revealed by the Granger causality test in the long run. Finally, we estimated impulse response functions to observe the variations of model variables in response to a shock. Our result supports the proposition that RMG export earnings are one of the main growth engines in Bangladesh and this sector leads growth in other sectors also in the long term.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.4
• /
• pp.1067-1078
• /
• 2021

This research examines the mediation of intrinsic motivation (IP) in the relationship between psychological capital (Psycap) and innovative performance (IP) in the educational environment of the transitioning economy. A test was based on a convenient sample of 440 University lecturers participating in a hardcopy survey was collected from ten universities and colleges in Southern Vietnam, from April 2020 to December 2020, while social isolation is strictly enforced by the government (Covid-19). The hypotheses are then proposed and conducted using confirmatory factor analysis (CFA) and the structural equation modeling technique (SEM). The testing structural model results reveal that all the hypotheses are satisfied at the 5% significance level. Intrinsic motivation is a partial mediator in the linkage between psychological capital and innovative performance. These findings suggest that the importance of Psychological Capital (PsyCap) of workers promotes job performance in general, especially in individuals' creativity in a transitioning market, Vietnam. In addition, Based on the research results, several solutions are also proposed to promote innovative performance in the conditions of education in Vietnam. Besides, the author also gave a few comments on the findings as well as the limitations that this study encountered, especially how the survey samples were collected.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.3
• /
• pp.69-77
• /
• 2021

The objective of this research is to explore the inconclusive theoretical and empirical association between institutional ownership and firm performance in the context of emerging Pakistani economy. The data set consists of all the non-financial firms listed on the Pakistan Stock Exchange (PSX). Annual data set covers the period ranging from 2010 to 2015. However, the econometric analysis does not include those firms with incomplete data. Thus the final data set comprised of an unbalanced panel of sample of 276 firms with 1231 firms years observations. Data related to the institutional ownership and other variables taken for the study were extracted through the annual financial reports of the firms. The research used Tobin's Q as a proxy of market measure of firm performance and tested the endogenous relation with institutional ownership through OLS and 2SLS approach. The study also applied Durbin-Wu-Hausman test to determine the endogeneity before analyzing the 2SLS model. The Durbin-Wu-Hausman Test (DWH) conform the endogenous link between institutional ownership and performance and vice versa. The results derived from 2SLS also confirm a highly significant relationship and two way direct proportional relationships between the institutional investment and corporate performance in the studied companies.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.3
• /
• pp.1143-1152
• /
• 2021

The study aims to assess the impact of factors on the access to financial services by Vietnamese farmers. The number of respondents in this study is 402 household heads participating in six diverse agricultural value chains in Vietnam. The explanatory variables of the Multinomial Logit model estimates variables at the individual characteristics while the Mixed Logit model can combine the two types of variables together to estimate the effects simultaneously. On the other hand, the Ordinal Logit model is used to evaluate the determinants of the increase in the quantity of financial services used by individuals. The estimation results show that male-headed households have more access to financial services than females. Younger farmers are more likely to use formal financial services than the elderly. Financial literacy, land ownership, and shocks in agricultural production all have a positive impact on the probability of dealing with banks. In addition, the degree of linkage and credibility of the value chain have a significant positive impact on the accessibility of financial services to farmers. The findings of this study suggest that limiting gender inequality, focusing on youth marketing and developing agricultural value chains will have a positive impact on farmers' access to financial services.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.2
• /
• pp.747-757
• /
• 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
• /
• v.8 no.2
• /
• pp.625-633
• /
• 2021

This study analyzes the impact of the reward variable on employees' performance through work motivation and employee engagement. This study's specific purpose is to investigate employee engagement's mediating role in the relationship between reward and employee performance. The sample of research is the employee at Sukorejo, Pasuruan Indonesia. The sample is permanent employees at manufacture corporate. The sample size is 150 employees of the total 759 workers through the calculation of the Slovin formula. Respondents in this study were employees with the criteria for having worked for at least last five years. The data obtained is in the form of answers from employees to the statements submitted. The data analysis was used structural equation modeling partial least square. To test the relationship between variables, it was equipped with a Sobel mediation test of statistics. SmartPLS 3.0 is used to help analyze the relationship between variables. The result shows that the reward does not have a direct influence on the performance of employees. However, it has a significant positive effect on the performance of employees through employee engagement. While working motivation variable does not have the role as a mediation variable related to the effect of reward on employee performance.

• International Journal of Internet, Broadcasting and Communication
• /
• v.14 no.4
• /
• pp.181-188
• /
• 2022

The purpose of this study is to identify selection attributes, functional benefits, psychological benefits, and values according to crossover shopping patterns (showrooming and webrooming). To achieve objectives of this study, a survey was designed based on the means-end chain theory, using the in-depth laddering technique and APT laddering technique which understanding the linkage of A(attributes)-FB(functional benefits)-PB(psychological benefit)-V(value). These two laddering techniques were used to construct a hierarchical value map (HVM) by linking selection attributes, functional benefits, psychological benefits, and value levels. The selection attribute items that showrooming shoppers consider important are 'price conformity', 'product information', 'product variety', and 'delivery service'. Functional benefit items were 'free purchase', 'economic benefit', 'communication', 'safety', and 'accurate Information', and psychological benefit items were 'convenience', 'relaxation', 'pleasure', 'rational consumption', and 'stability'. Finally, the value items were 'self-satisfaction', 'abundant life', 'achievement', 'happiness', and 'reasonable life'. Next, the selection attribute items that webrooming shoppers consider important are 'price conformity', 'product information', 'product variety', 'AS', 'shopping atmosphere', and 'seller service'. Functional benefit items were 'free purchase', 'economic profit', 'expression opinion', 'safety', and 'accurate information', and psychological benefit items were 'convenience', 'relaxation', 'rational consumption', and 'stability'. Finally, the value items were 'self-satisfaction', 'abundant life', 'happiness', and 'reasonable life'.

• The Journal of the Korea institute of electronic communication sciences
• /
• v.17 no.6
• /
• pp.1187-1192
• /
• 2022

Gangwon-do is a representative leisure resort. However, the provision of tourism information has not escaped the existing image- and text-oriented simplicity. Therefore, a linkage strategy for the content business is needed to revitalize tourist attractions. In this paper, first, we provide a 360-degree rotating VR content authoring function. Second, we propose a dynamic platform including a function that allows users to easily author tour scheduling after registering VR content on a map. Finally, the proposal system provides pre-tourism customers with an opportunity to increase satisfaction by providing online pre-experience.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.9
• /
• pp.143-156
• /
• 2022

This article examines the effect of inward foreign direct investments (FDI) on the export performance of micro, small & medium enterprises (MSMEs) in India, and investigates the spillover impact and absorption capacity of the MSMEs sector. For the first time, the researchers applied the intersectoral linkage approach to investigate the matter and used a panel dataset between 2006 and 2017. The coefficients of forward and backward linkages are estimated by using the Rasmussen method, the study employs a basic linear panel data model, followed by various diagnostic tests to identify the problem of heteroscedasticity, autocorrelation / serial correlation, cross-sectional dependencies, multicollinearity, time-individual specific tests, and unobserved effects. The PCSE model was applied for robust standard error and the Hausman-Taylor IV model to check the robustness of the result generated in the linear panel data model. Despite the high prevalence of forward and backward intersectoral connections and the Lack of absorption capacity of local firms, the results show that FDI has little of an impact on the export performance of micro, small, and medium-sized businesses in India. This study adds to the existing literature on determining local firms' spillover effect and absorption capacity in response to inward FDI.

• Journal of Korean Society of Water and Wastewater
• /
• v.36 no.5
• /
• pp.275-287
• /
• 2022

In order to overcome the small scale of Korea waterworks and to achieve comprehensive improvement and innovation transformation, the waterworks integration was reviewed. The effect of consolidation was confirmed by the integration of the water supply business in the southern Gangwon region and the western Gyeongnam region in Korea, such as an increase in the flow rate and a decrease in the production unit cost. After facing management and service limitations overseas, more than 1,000 small-scale waterworks projects in the UK were integrated into 27 waterworks providers, and Japan also revised the Waterworks Act in December 2019 and is in the process of integrating waterworks. It is considered appropriate to promote the integration of waterworks projects in Korea by respecting the autonomy of local governments, but using a participatory method, a win-win method, and a linkage method. For the integration of waterworks projects, three strategies are proposed: First creating a national foundation for integration (revision of the Waterworks Act), Second establishing a waterworks integration strategy led by local governments, Third forming an external consensus and providing incentives for participation.