• 제목/요약/키워드: Business school department

검색결과 2,579건 처리시간 0.027초

Influence of Global versus Local Rating Agencies to Japanese Financial Firms

  • Han, Seung Hun;Reinhart, Walter J.;Shin, Yoon S.
    • The Journal of Asian Finance, Economics and Business
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    • 제5권4호
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    • pp.9-20
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    • 2018
  • Global rating agencies, such as Moody's and S&P, have assigned credit ratings to corporate bonds issued by Japanese firms since 1980s. Local Japanese rating agencies, such as R&I and JCR, have more market share than the global raters. We examine the yield spreads of 1,050 yen-denominated corporate bonds issued by financial firms in Japan from 1998 to 2014 and find no evidence that bonds rated by at least one global agency are associated with a significant reduction in the cost of debt as compared to those rated by only local rating agencies. Unlike non-financial firms, the reputation effect of global rating agencies does not exist for Japanese financial firms. We also observe that firms with less information asymmetry are more likely to acquire ratings from Moody's or S&P. Additionally, the firm's financial profile does not affect its choice to seek out ratings from global raters. Our findings are contradictory to those by Han, Pagano, and Shin (2012), who employ bonds issued by non-financial firms in Japan. Our conjecture is that the asymmetric nature of financial firms makes investors less likely to depend on a credit risk assessment by rating agencies in determining the yields of new bonds.

Predicting Stock Prices Based on Online News Content and Technical Indicators by Combinatorial Analysis Using CNN and LSTM with Self-attention

  • Sang Hyung Jung;Gyo Jung Gu;Dongsung Kim;Jong Woo Kim
    • Asia pacific journal of information systems
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    • 제30권4호
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    • pp.719-740
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    • 2020
  • The stock market changes continuously as new information emerges, affecting the judgments of investors. Online news articles are valued as a traditional window to inform investors about various information that affects the stock market. This paper proposed new ways to utilize online news articles with technical indicators. The suggested hybrid model consists of three models. First, a self-attention-based convolutional neural network (CNN) model, considered to be better in interpreting the semantics of long texts, uses news content as inputs. Second, a self-attention-based, bi-long short-term memory (bi-LSTM) neural network model for short texts utilizes news titles as inputs. Third, a bi-LSTM model, considered to be better in analyzing context information and time-series models, uses 19 technical indicators as inputs. We used news articles from the previous day and technical indicators from the past seven days to predict the share price of the next day. An experiment was performed with Korean stock market data and news articles from 33 top companies over three years. Through this experiment, our proposed model showed better performance than previous approaches, which have mainly focused on news titles. This paper demonstrated that news titles and content should be treated in different ways for superior stock price prediction.

컨조인트 분석을 활용한 양식장 HACCP 인증 선호도 분석 (Consumer's Preferences for Fish Farm HACCP Certification : An Application of Conjoint Analysis)

  • 김지웅;박지현
    • 수산경영론집
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    • 제51권2호
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    • pp.1-13
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    • 2020
  • The purpose of this study is to analyze consumer preference for fish farm HACCP certification using conjoint analysis. This study used raw flatfish product to evaluate the fish farm HACCP. In this study, 500 consumers were surveyed using panel survey and stratified sampling. In the recognition analysis, the farm HACCP certification system was found to be highly recognized by consumers. It can be seen that the brand assets accumulated by existing food and agricultural HACCP certification were transfered to the fish farm HACCP and absorbed. Consumers perceived fish farm HACCP certification as similar one with existing food and agricultural HACCP. Conjoint analysis evaluated three levels factors. The attributes and levels evaluated were : price(25,800 won, 28,400 won, 31,000 won), certification(fish farm HACCP, seafood traceability, and non certified), and origin(domestic, JEJU, and WANDO). The important levels were in order of price(40.8%), certification(30.2%) and origin(29.0%). We found that consumers give higher utility to fish farm HACCP certification compared with non certified and seafood traceability certification. Market simulation results showed that the fish farm HACCP product has 12%p higher market share than non certified products. Seafood traceability certification showed 4.6%p higher market share than non certified products.

Innovative Mechanisms in the Procurement Logistics of Kazakhstan

  • Zhatkanbaev, Erzhan B.;Mukhtar, Ernur S.;Suyunchaliyeva, Maiya M.
    • The Journal of Asian Finance, Economics and Business
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    • 제2권3호
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    • pp.33-36
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    • 2015
  • Innovations in the procurement logistics now is very popular in Kazakhstan. Nowadays there are a lot of documents of transport infrastructure and Kazakhstan logistic system is developing more and more. Procurement logistic is the direction where you can count, sometimes you can buy some products or transport equipments. Logistic in Kazakhstan is new direction, there are a lot of young people who choose this specialty and will stay demanded. Our president said a lot of words in strategies about development in logistics and so there will be new methods that will be used here. Innovations are new technologies that are used in different spheres so this structure as procurement logistic will develop in Kazakhstan and every citizen of our republic will support it. Transport systems are used for transitions different products so there are a lot new transition roads for example Western China - Western Europe; Astana-Almaty; Astana-Ust-Kamenogorsk; Astana-Aktobe, Atyrau; Almaty - Ust-Kamenogorsk; Karaganda - Zhezkazgan - Kyzylorda; Atyrau-Astrakhan, it helps Kazakhstan to support international links between other countries.

CO2 Emission, Energy Consumption and Economic Development: A Case of Bangladesh

  • Islam, Md. Zahidul;Ahmed, Zaima;Saifullah, Md. Khaled;Huda, Syed Nayeemul;Al-Islam, Shamil M.
    • The Journal of Asian Finance, Economics and Business
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    • 제4권4호
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    • pp.61-66
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    • 2017
  • Environmental awareness and its relation to the development of economy has garnered increased attention in recent years. Researchers, over the years, have argued that sustainable development warrants for minimizing environmental degradation since one depends on the other. This study analyzes the relationship between environmental degradation (carbon emission taken as proxy for degradation), economic growth, total energy consumption and industrial production index growth in Bangladesh from year 1998 to 2013. This study uses Vector Autoregression (VAR) Model and variance decomposition of VAR to analyze the effect of these variables on carbon emission and vice-versa. The findings of VAR model suggest that industrial production and GDP per capita has significant relationship with carbon emission. Further analysis through variance decomposition shows carbon emission has consistent impact on industrial production over time, whereas, industrial production has high impact on emission in the short run which fades in the long run which is consistent with Environmental Kuznets Curve (EKC) hypothesis. Carbon emission rising along with GDP per capita and at the same time having low impact in the long run on industrial index indicates there may be other sources of pollution introduced with the rise in income of the economy over time.

Role of Organizational Commitment on Work Performance in Distribution Department of AMCs

  • Mengchan XING;Indraah A/P KOLANDAISAMY;Hooi Sin SOO
    • 유통과학연구
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    • 제22권3호
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    • pp.1-10
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    • 2024
  • Purpose: The current study focused on work performance of distribution department of AMC (asset management company) industry in China, outlines the challenges faced by distribution employees of Chinese four biggest national AMCs, aiming to enhance the ability of Chinese national AMCs to succeed in the face of external challenges such as economic, social, and technological changes. Research design, data and methodology: This study adopted quantitative methods, questionnaire was collected from 248 general distribution department employees of four national AMCs of China, these employees are from the top 5 developed cities in China, and software Smart PLS 3.0 and SPSS 25 was applied to data analysis. Results: The result of this current study through Smart PLS 3.0 has revealed that the significant effect of affective commitment on contextual performance, affective commitment on task performance, continuance commitment on contextual performance, normative commitment on contextual performance, and effect of continuance commitment on task performance and normative commitment on task performance were found to be non-significant. Conclusions: According to the important role of distribution department, managers in China's national AMCs can leverage the study's findings to enhance organizational commitment among employees of distribution department, and further positively influences distribution department employees' work performance.

소셜네트워크서비스(SNS) 품질요인이 사용자 만족과 지속적인 사용의도에 미치는 영향에 관한 연구 (The Effect of Social Network Service's Quality Factors on User Satisfaction and the Intention to Continued Use)

  • 고훈석;김제숭;정문영;오영진;이성호
    • 품질경영학회지
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    • 제39권4호
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    • pp.543-555
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    • 2011
  • In recent years, Social Network Service (SNS) have increasingly gained popularity and have simplified and amplified social interaction between online users. This paper mainly discusses the user satisfaction and intention of continuous use. Based on the literature review, two hypotheses were developed and research model is built for testing. Data was collected through questionnaire survey from 260 SNS college student user. The empirical results shows a significant mediating effect for user satisfaction in the relationship between SNS' quality factors and intention to continued use.

소상공인 정책자금의 성과분석 연구 (A Study on the Governmental Policy' Loan of Small Business)

  • 김순태;민경명;오상영
    • 한국산학기술학회논문지
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    • 제13권4호
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    • pp.1594-1602
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    • 2012
  • 정부의 소상공인정책자금 지원에 대한 효과 분석을 통하여 지원 자금 규모에 따라 소상공인의 매출 증가 변화, 향후 성장성을 분석하였다. 정부자금의 수혜기업과 비수혜기업을 구분하여 상호 비교하여 분석하거나 수혜기업 중심으로 지원 자금의 성과를 분석하여 결과를 제시함으로서 정부의 자금 지원정책에 시사점을 제공하였다.

The Influence of Ginseng Cultivating Farms' Characteristics on the Attitude and Intention to adopt GAP

  • Lee, Dongmin;Yu, Seong Gu;Park, Wooseok;Rhee, Cheul
    • Agribusiness and Information Management
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    • 제5권2호
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    • pp.7-15
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    • 2013
  • As the consumers' anxiety for food increases, the interest in food safety also increases. To satisfy the public requirement on food safety, the government is trying to set up a food safety standard by using regulations and certification systems. However, there is still difficulty in building up complex traceability systems for medicinal crops including ginseng due to the low participation of farming industries. The purpose of this empirical research is to draw factors that impede the GAP adoption of ginseng farms. By comparing the average attitude and intention to adopt the ginseng farms' depending on its characteristics through a two-tailed test, it was drawn that continuous farming education can positively influence the GAP adoption of the ginseng farms.