• The Journal of Asian Finance, Economics and Business
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• 제7권4호
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• pp.71-80
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• 2020

The paper examines the influence of corporate governance (CG) and earning quality (EQ) on corporate value (FV) of Vietnamese enterprises. The study uses GLS regression and linear structure model using data collected from companies listing on the stock market in Vietnam during 2008-2018, with a total of 2,937 observations. The research results indicate that EQ and CG represented by the Integrated Board of Directors and the Integrated Supervisory Board have a positive effect on FV directly and indirectly. The results show that the Integrated Board of Directors has a positive effect on EQ, whereas the Integrated Supervisory Board has a negative effect on EQ. Based on the research results, we suggest that companies need to strictly comply and implement GC, so to bring down the agency cost and consequently to increase performance. The companies also should establish the Board of Director of a proper size, with financial and accounting specialty, and including women board members. The government also needs to improve the management mechanism asking for firms to prepare and publish financial statements with reliable company information, which could be provided to users. These recommendations are a useful basis to help businesses improve FV via changes in the corporate governance factors in each enterprise.

• The Journal of Asian Finance, Economics and Business
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• 제9권6호
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• pp.183-194
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• 2022

The objective of this article is to assess the impact of corporate social responsibility (CSR) implementation on Corporate Brand Value (CBV) and Corporate Financial Performance (CFP). At the same time, the article examines the mediated role of CBV on the relationship between CSR implementation and CFP. In-depth interviews and observation techniques were used in this article on 4 experts to collect qualitative information. Quantitative analysis was based on primary data obtained from 454 employees working at enterprises providing Bancassurance services. The article uses various models of Cronbach's Alpha coefficient, Exploratory Factor Analysis (EFA), Confirmatory Factor Analysis (CFA), and Structural Equation Analysis (SEM) using SPSS 22.0 and AMOS 20.0 software. In addition, a 5-point Likert scale is used to measure observed variables. Research results show that CBV plays an intermediate role in the relationship between CSR implementation and CFP. At the same time, the implementation of CSR toward communities, customers, and workers directly impacts CBV and CFP. The article draws a new conclusion; there is no relationship found between the implementation of CSR and CFP. The result proposes implications for the state and Bancassurance service providers to develop and implement CSR-related policies and activities to enhance their brand value and financial performance.

• The Journal of Asian Finance, Economics and Business
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• 제8권9호
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• pp.219-233
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• 2021

This study would prove the logic that business practice CSR has a positive impact on efficient product value while philanthropic CSR has a positive impact on socio-ethical product value to promote product purchase intention. It would also test the mediating role of efficient product value and socio-ethical product value. Methods: AMOS 22.0 was used to analyze the structural equation model in this work, and the hypotheses were tested after setting the impact of corporate variables on intrinsic variables additionally. Results: This study conducted research that has not been attempted in the preceding studies, classifying CSR into business practice CSR activities related to economic, legal, and ethical responsibilities and philanthropic CSR activities related to the contribution to the community, the connection of donation and business, company-wide philanthropy, and appropriate donation performance. Conclusion: This study would prove the logic that business practice CSR has a positive impact on efficient product value while philanthropic CSR has a positive impact on socio-ethical product value to promote product purchase intention, and evaluating the mediating role of efficient product value and socio-ethical product value, thus providing implications from a new perspective that has not been explored in previous marketing studies.

• 유통과학연구
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• 제12권7호
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• pp.23-35
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• 2014

Purpose - This study aims to explore the effects of social responsibility activities and business ethics practices on corporate trust and loyalty in the context of a large retail distribution business. Research design, data, and methodology - The data collected was analyzed using PASW Statistics 18.0. In order to verify the demographic characteristics, frequency analysis was conducted on the data. Results - The results of the study were as follows. First, social responsibility activities had a significant effect on corporate trust. Second, both corporate social responsibility activities and business ethics practices had significant effects on loyalty. Third, corporate trust had a significant effect on loyalty. Fourth, corporate social responsibility activities and consumer protection activities had a partial mediation effect, while environmental protection activities and social contribution activities had complete mediation effects. Conclusions - This study clarified and explained the factors of corporate social responsibility activities and business ethics practices that customers value, and analyzed the influence of these factors on corporate trust and loyalty.

• 유통과학연구
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• 제11권7호
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• pp.39-45
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• 2013

Purpose - The paper aims at testing the moderating effect of individualism dimension of culture on consumer behavioural intention about bank services in Nigeria. Research design, data, and methodology - A survey was conducted with a sample of five hundred and fifty five bank customers drawn from various retails banks. Using Statistical Package for Social Sciences and Analysis of Moment Structure, combinations of descriptive and inferential statistics were performed. Invariance test and multiple-group analysis were conducted in order to assess the moderating effect. The invariance test was necessary to confirm the equivalence of constructs so that any difference detected thereafter could be related to moderating effect. Results - The results show that individualism has a significant moderating effect on the relationship between technical quality, perceived value and corporate image on the one hand, and behavioural intention on the other. However, individualism does not moderate the association between functional quality and behavioral intention. Conclusions - It is recommended that the bank policy makers should take necessary step to enhance the customer perception of technical quality, perceived value and corporate image with respect the retail bank services.

• The Journal of Asian Finance, Economics and Business
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• 제7권8호
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• pp.451-459
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• 2020

This study aims to examine the relationship of the four factors that increase the protection of minority shareholder investment. The factors are non-controlling shareholders, corporate governance, free cash flow, and shareholder wealth. The data for this study is obtained from the 2017 annual reports of 136 Thai public companies listed in the Market of Alternative Investment of Thailand (MAI). The analysis uses a multiple regression model to determine which factors encourage and which inhibit the protection of minority shareholder investment. The study tests four hypotheses. The results rejected H1 because non-controlling shareholders have negatively correlated with minority shareholder investment protection (beta -0.155 and p-value 0.050). The results accepted H2, H3 and H4 as follows. H2: corporate governance has positively correlated with minority shareholder investment protection (beta 0.17 and p-value 0.031). H3: free cash flow has positively correlated with minority shareholder investment protection (beta 0.214 and p-value 0.007). H4: shareholder wealth has positively correlated with minority shareholder investment protection (beta 0.318 and p-value 0.000). The major findings suggest strong minority shareholder investment protection was enhanced by increasing corporate governance, free cash flow and shareholder wealth. The protection of minority shareholder investment needs to reduce non-controlling shareholding pattern.

• 지식경영연구
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• 제9권4호
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• pp.1-16
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• 2008

The purpose of the present study is to explain the effects of academic self-efficacy, self-regulated learning and online task value on academic achievement and learning transfer in corporate cyber education. 202 students who completed S corporate's cyber courses in 2007 and responded to all survey participated in this study. A hypothetical model was proposed, which was composed of academic self-efficacy, online task value and self-regulated learning factors as prediction variables, and learning transfer as well as academic achievement factors as outcome variables. The results of this study through regression analysis as follows. First, learners' academic self-efficacy, self-regulated learning and online task value predict learners' academic achievement significantly. Second, except for academic self-efficacy, learners' self-regulated learning and online task value predict on learners' learning transfer significantly. Third, academic achievement plays a role as mediating value in predicting academic achievement by online task. It implies that learners' academic self-efficacy, online task value and self-regulated learning which predict learners' academic achievement and learning transfer should be considered in developing strategies for the design and operation of cyber courses.

• The Journal of Asian Finance, Economics and Business
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• 제3권4호
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• pp.5-16
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• 2016

Prior literature expects a lower marginal cash value for weaker governance firms. We test this empirical hypothesis by using the sample of publicly traded Korean firms from 2005 to 2013. To measure the quality of governance structures, we employ the corporate governance scores provided by Korean Corporate Governance Services. The empirical model of Faulkender and Wang (2006) is adopted to estimate the marginal value of cash. Our empirical analysis shows a higher marginal value of cash for the good governance firms in the examination of the total governance score. This finding is consistent to the agency view of cash policy predicting a larger marginal value of cash for the firms with higher governance scores. However, this positive relationship is not robust for a subset of detailed governance scores; a lower marginal cash value is observed for the firms with better qualities of board structure, auditing, dividend policies. Moreover, our empirical analysis verifies a quite low level of marginal cash value for Korean firms, which supports the existence of severe agency conflicts in Korean corporations. Our results verify the significant role of agency conflicts between a manager and shareholders in the determination of marginal cash values in the Korean firms.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.885-894
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• 2020

This paper aims to provide a review concept regarding the relationship between corporate governance and corporate sustainability in Indonesia. This paper examines the mechanisms and guidelines for implementing good corporate governance. This research used the literature review method and explores some effective corporate governance principles such as transparency, accountability, responsibility, independence, fairness, and equality to achieve business sustainability in Indonesia's setting. The results show that good corporate governance regulation in Indonesia has been improved, but the enforcement is still needed to be optimized because good corporate governance will positively impact corporate sustainability. Thus, sustainability requires more corporate innovation because sustainability is about how a company can create profits and value-added to society through corporate social responsibility (CSR) programs and how the company can contribute to the preservation of nature and the environment. In Indonesia, the board of directors, the board of commissioners, and the audit committees are positively related to CSR disclosure. Thus, leadership and management efforts are crucial. However, to comprehensively support the synergy of implementing good corporate governance, we need the role of the state, the business community, and society. This study provides important insights into the implementation of good corporate governance in achieving corporate sustainability in Indonesia.

• International journal of advanced smart convergence
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• 제11권1호
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• pp.117-126
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• 2022

Corporate social responsibility (CSR) is the basic strategy for enterprises to obtain competitive advantages, and reflects the most basic value orientation and development concept of enterprises. The purpose of this study is to explore the relationship between corporate culture, innovation ability and core competitiveness of enterprises from the perspective of corporate social responsibility, and to establish a model and analyze the survey data of 32 agricultural science and technology enterprises in Tianjin by using SPSS23.0. As a result of the study, we found that corporate social responsibility (Ethical responsibility, Philanthropic responsibility) has a significant positive impact on corporate culture and innovation ability, corporate culture has a significant positive impact on innovation ability and corporate core competitiveness, and innovation ability has a significant positive impact on corporate core competitiveness. Therefore, it is suggested that agricultural science and technology enterprises should fulfill their social responsibilities, form a unique corporate culture, serve agriculture with science and technology, and constantly improve the ability of agricultural science and technology innovation, so as to enhance the core competitiveness of enterprises.