• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.4
• /
• pp.249-261
• /
• 2021

To tranquilize the devastating impact of unnecessary risk-taking behavior of banks towards the economy for maximizing their profits that usually arises due to widely known 'moral-hazard' problem originating from market competition and intensified by bank's limited liability, the banking system is strongly monitored across all countries of the world. The goal of controlling would become more feasible if there exist some self-discipline and motivations which could safeguard the banks' charter value through the mechanism of market discipline. Therefore, our study is aimed to scrutinize the relation between market discipline and charter value of local commercial banks that are registered on the Pakistan Stock Exchange by analyzing a balanced panel data from the year 2007 to 2019. Deposit growth, interbank deposits, and subordinate debt are taken as proxies to measure market discipline whereas Tobin's Q theory is applied for calculating the charter value. Generalized Least Square Regression with Fixed Effect Model is used for evaluation. The outcomes reveal that in the existence of control variables, all proxies of market discipline have a significant positive impact on bank charter value. Our research has important policy implications for monitoring and supervising financial intermediaries for their stability and soundness by offsetting the complications of moral-hazard in the financial systems.

• Journal of Distribution Science
• /
• v.20 no.10
• /
• pp.79-91
• /
• 2022

Purpose: As the shared kitchen sector evolves into a new trend in the restaurant industry, not only operational support but also the physical environment for services is ranked as an important success factors. Therefore, the purpose of this thesis is to study the effect of shared kitchen service quality on experiential value, relational commitment, and long-term orientation. Research design, data, and methodology: In this study, a questionnaire was used to verify the structural relationship between shared kitchen service quality, experiential value, relational commitment, and long-term orientation for tenant companies in shared kitchen companies. The data were analyzed by using Partial Least Square-Structural Equation Modeling (PLS-SEM). Result: Facilities and support for the service quality of the shared kitchen had a positive (+) effect on the experiential value, and the environment did not. In addition, experiential value showed a significant positive (+) effect on relationship commitment and long-term orientation, and relationship commitment showed a significant positive (+) effect on long-term orientation. Conclusions: It was confirmed that the support quality among service quality affects the relationship formation. Thus, attention should be paid to activities to support stable business activities from the perspective of B2B services.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.9
• /
• pp.181-189
• /
• 2022

The current study examines the nexus between the capital structure (debt-equity) and firm value (Tobin's Q) by including profitability (alternatively Return on Assets (ROA) and Return on Equity (ROE)) as a moderator in the companies of Saudi Arabia. The study sample consists of 102 companies listed on Tadawul (the Saudi Arabian stock exchange) from different sectors of Saudi Arabia during the period 2013 to 2020. The study estimates pooled regression, panel regression with fixed and random effects, and dynamic panel regression models to report the results. The study results report that there is a negative and significant association between capital structure and firm value in model 1, while in models 2 and 3 there is a more negative and significant impact between the two study variables compared to model 1 after the inclusion of interaction variable, i.e. profitability in terms of ROA and ROE. The comparative result shows that the companies of Saudi Arabia hold more debt in their capital structure mix, hence evidencing a decrease in the firm value. The reported results also show that models 2 and 3 are better in explaining the impact of capital structure on firm value due to the interaction of profitability compared to model 1.

• Asia pacific journal of information systems
• /
• v.32 no.1
• /
• pp.1-31
• /
• 2022

Personalization and customization of product and service designs involving firms and customers using online design interfaces across the Internet is increasingly being facilitated by brands. Research on the role of information technology and value co-creation across various research disciplines in management has provided learnings on ways to creatively improve products and services by integrating customers and firms in web portals. This paper provides a comprehensive analysis of the specific attributes of value co-creation between customers and firms relevant to business logic, learnings, projects, personalized products and services, social network innovations, brand management and markets across the Internet for the purpose of enhancing information management of value co-creation for industries and research. The paper draws on published research and industry surveys on how value co-creation is growing in the digital economy. An industry survey of managers who use web portals for their business responded to a questionnaire on how various social, economic and intellectual motivation factors of firm-customer interactions result in value co-creation for customers and firms. These motivation factors can lead to improved learning systems for business process improvements and service management for industries, customers and firms and may also be classified.

• Korean Management Science Review
• /
• v.28 no.1
• /
• pp.11-24
• /
• 2011

In this paper, we develop a new conceptual framework for finding new business opportunities in the cloud computing environment. We propose a service model framework for cloud computing business. In the service concept of the proposed business model, we categorize customer needs and service offering value, while we analyze customer behavior for developing revenue model. In addition, we analyze cloud computing market drivers for finding an evolution path of the proposed business model. Finally, we develop cloud computing business strategies for Korean IT service industry.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.15 no.7
• /
• pp.4191-4197
• /
• 2014

Value co-creation is an important business strategy these days in both the business-to-business (B2B) and business-to-consumer (B2C) markets. The aim of this study was to identify specialized resources and competences for value co-creation in the relationship network within a high-tech B2B market. A case of Taiwan Semiconductor Manufacturing Company Limited (TSMC) with customers and partners was chosen as the study case. Based on the observations, contents analysis of the secondary data and unstructured interviews with former TSMC employees, 4 critical resource types (financial, knowledge, efficiency and intellectual resource) and 6 competence types (relational, collaboration, strategic, innovation, managing and service capability), were performed as the principal factors for value co-creation in the relationship network. A research framework that can analyze the value co-creation phenomena in the relationship network was established.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.7 no.3
• /
• pp.89-97
• /
• 2012

The purpose of this study is to examine service quality elements in China Bank Industry and influence on service value, customer satisfaction and reuse intention. This study is composed one parallel comparison of documentary and evidential researches. To verify research model, the survey about medical institution and hospital services were conducted in Daqing of Heilongjiang Province, in China. Collected data was analyzed and the results are introduced in this paper. The findings ar as followed. This study has modified three-dimensional model of service quality: "interaction quality", "outcome quality" and "physical environment quality". Research was focused on investigating the direct effect of every service quality dimension on customer satisfaction. But "outcome quality "has only direct effect on service value, "interaction quality" and "physical environment quality" have not direct effect on service value in this study. Service value has direct effect on customer satisfaction and reuse intention. And customer satisfaction was the significant mediating role in the relationship of the service value and reuse intention.

• Journal of Korea Trade
• /
• v.24 no.1
• /
• pp.1-34
• /
• 2020

Purpose - In this study, we investigate determinants of hedging with derivatives and its effect on firm value and firm risk for Korean firms. Design/methodology - To avoid the endogeneity problem pointed out in previous studies, we use a two-stage analysis by using gains and losses from derivatives as instrument variable for hedging with derivatives. Findings - Our analysis on the determinants of hedging shows that firms that are more leveraged and less profitable, and with more growth opportunities are likely to hedge through derivatives. Additionally, large firms, firms less diversified into industry, and firms more diversified geographically are likely to use derivatives. Our two-stage analysis shows that indicators of hedging with derivatives have an insignificant effect on firm value, and the indicator of futures/forwards use and of swaps use have significant negative effect on firm value. Whereas, the extent of hedging with derivatives has positive effect on firm value for all types of foreign currency derivatives, which suggests that moderately low hedgers use derivatives inefficiently, but extensive hedgers use derivatives properly. With regard to firm risk, hedging with derivatives increases market-based risk, but decreases accounting-based risk. Thus, we conclude that Korean firms use derivatives to manage operational volatility rather than to manage market risk, and accounting-based risk reduction through hedging is not directly translated into higher firm value. Originality/value - This is not the first study to investigate hedging behavior of Korean firms, but the sample period that that this study analyzed is the longest and various method are used to control the endogeneity problem. We investigate not only total foreign currency derivatives but also by types of derivatives, including futures/forwards, options, and swaps.

• Journal of the Korea Safety Management & Science
• /
• v.24 no.2
• /
• pp.105-111
• /
• 2022

This study aims to analyze mediating effect of social outcome between value realization efforts and economic outcome of social entrprises. Data for the analysis is collected from Social Enterprise Promotion Agency. The results of anaylsis are first social value realization efforts had no positive effect on economic outcome of the social enterprises. But social outcome had a significant mediating effect between social value realization efforts and economic outcome. Through this, it was confirmed that although a social enterprise is a hybrid organization that must pursue both social and economic outcome, social value realization efforts go through a social outcome that affects economic outcome. mediating social performance This is expected to have implications for the role of social value realization efforts and social outcome in order to increase the economic outcome of social enterprises.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.4
• /
• pp.81-95
• /
• 2020

The main objective of this research is to investigate the impact of board size and board composition on financial performance of banks. The sample of this study consists on two countries listed bank sector Pakistan and China. The annul data is used from 2009-2018 to find the objective of this study. The Panel regression model is used to check the relationship between dependent and independent variables. Return on Asset and Return on Equity is used as performance checker dependent variables. The results of this study confirm board size coefficient value positive for ROA and negative for ROE but shows insignificant behavior for Pakistani banking sector while in Chinese banking sector the coefficient value of board size positively for ROA and ROE at 10% level. The board composition coefficient shows the negatively significant with ROA but insignificantly related to ROE for Pakistani banking sector. However, in Chinese banking sector the coefficient value of board composition is insignificant for both ROA and ROE. This study is helpful for banks, management of banks, policy makers, researcher as well as Government.