• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.17-27
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• 2020

The research aims to investigate the impact levels of determinants on the conversion of financial statements from Vietnamese accounting standards (VAS) to International financial reporting standards (IFRS) in the multinational firms in Vietnam. The method of data collection was done through the survey and subjects are accountants in Multinational Firms doing business in Hanoi and ten neighboring provinces. After checking the information on the votes, there are 170 questionnaires with full information for data entry and analysis. We use Cronbach's Alpha, EFA analysis and run regression model to investigate the impact levels of each independent variable on dependent variable of the conversion of VAS financial statements to IFRS. The results show that five determinants including Economic, Politics, Law, Culture, and Conditions for implementation have positive relationships with the conversion of VAS financial statements to IFRS. In particular, Economic determinant is the most strongest. Based on the findings, some recommendations are given for improving the conversion of VAS financial statements to IFRS of multinational firms doing business in the context of Vietnam. The results are considered a useful reference for firms when making financial statements to transparently change the financial statement information and improve the quality of financial statement information.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.1
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• pp.59-69
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• 2020

This study investigates the influence of individual blockholder on accounting quality. Prior studies investigating Korean blockholders' influence focus on the influence of controlling shareholders or institutional investors; however, they rarely examine individual blockholders' influence. This paper investigates how individual blockholders in Korean stock markets affect accounting quality of firms listed in Korean Stock Exchange. I analyze individual blockholders' influence on proxies of accounting quality using multivariate regression with hand-collected individual blockholder data. Korean law requires public firms to disclose the list of shareholders having no less than 5% of ownership. From the list of blockholders, individuals who have no explicit personal relation with controlling shareholders were classified as individual blockholders. My empirical results show that firms having individual blockholder(s) use more income-decreasing accruals than those having no individual blockholder. Furthermore, accounting information of firms having individual blockholders(s) is more conservative than that of firms having no individual blockholders. However, the presence of individual blockholder increases the tendency of loss avoidance and earnings management using overproduction and reduction of discretionary expenditure. This paper contributes to the literature by presenting the first evidence of the monitoring role of an individual blockholder on financial reporting of firms listed in the Korean stock markets.

• Asian Journal of Business Environment
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• v.6 no.4
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• pp.5-12
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• 2016

Purpose - Not all firms are able to completely eliminate the risk arising out of the crisis. Success hides in the ability to perceive the market expectations accurately and take correct decisions. This study aims to analyze the firms' decisions at gross-root level. Research Design, Data, and Methodology - Primary data is obtained with the help of specially designed questionnaires from the agriproducts export firms that are members of export union of Turkey. The study is based on four theoretical structures: general planned behavior theory model, perception-leading behavior control and subjective norm model, perceived-behavioral-control leading perception and subjective norm models, and perceptions and subjective norms leading behavior control model. Structural Equation Models (SEM) is used to conduct the empirical analysis. Results - The findings show perceptions and subjective norms leading behavior control model as the best one, concluding that the environmental pressures and positive perceptions have significant effect on the strategic decisions of the agriproducts export firms. Conclusion - Policy tools like creating positive perception in the markets, providing sufficient information and financial support to the firms and increasing market competition can be used effectively to achieve the said objective.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.291-301
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• 2020

This paper aims to investigate the impact of chief executive officer's (CEO) attributes on firms' performance. Specifically, it examines the influence of CEOs' education, professional experience, and tenure on Saudi firms' performance. We look at a sample of 120 listed firms on Tadawul stock exchange from 2014 to 2017. Data on financial and accounting variables are obtained from the annual reports of the selected companies. We follow the existing empirical literature and use a panel model and formulate three different equations using the GMM estimator. Findings prove that CEO educational background does matter. In particular, companies employing CEOs with business administration, economics, finance, or accounting degree will perform outstandingly better. Similarly, stock performance gets improved when the CEO has a postgraduate qualification, i.e., when the CEO holds an MBA, a master, or a PhD degree. Besides, results reveal that executives who have an experience in a related field will positively affect the firm's performance. Finally, evidence shows that high CEOs tenure improves corporate performance. Overall, these findings demonstrate that executives' attributes are key factors that would explain differences in Saudi firms' performance. These results would help shareholders to make the right decision in selecting CEOs to manage the company.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.1033-1039
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• 2020

Vietnam is conducting an export-led growth model and labour-intensive industries contributing majorly to the total export value. In the context of Industry 4.0, the labour-based industries are significantly affected; hence, enhancing productivity is the key measure to maintain these industries. The garment industry contributes significantly to the total export value of Vietnam. Based on meta-frontier framework, the approach of data envelopment analysis is used to measure technical efficiency of Vietnamese garment firms and the global Malmquist TFP index is utilised to identify productivity change and its components including efficiency, technology and technical gaps between different groups of firms. The data of Vietnamese garment firms from 2013 to 2018 collected from the Vietnam General Statistic Office is used in this study. The results show that: (i) The total factor productivity of Vietnamese garment firms growth, technical progress is the main contributor; (ii) The private garment sector is the leading group; (iii) There is a large technological gap among Vietnamese garment sectors. The private and FDI garment firms have experienced a growth in all components of total factor productivity change. Meanwhile, technological progress change is the main reason to constrain the productivity growth of state-owned garment firms.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.61-69
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• 2021

The aim of this paper is to empirically investigate whether and how domestic currency valuation is related to firm-level export competitiveness and profitability by using the unique firm-specific dataset on Bangladeshi nonfinancial firms which have been listed continuously from 2010 to 2018. To achieve the aim of this paper, 63 exporting firms are extracted from a total of 125 firms which have been continuously listed during 2010-2018 and used as the final sample firms. The Pedroni cointegration test reveals that export and import prices of the exporting firms are cointegrated in the short-run as well as long-run. The panel dynamic ordinary least square (DOLS) analysis finds that a firm's export competitiveness is maintained by high import inputs even in the presence of depreciation of Bangladeshi currency against the US dollar. Finally, the DuPont analysis finds that the depreciated Bangladeshi currency enhances an exporter's profitability. Conclusions based on the findings are consistent regardless of exchange rate types, such as, real bilateral exchange rate and nominal or real effective exchange rate indexes. Consequently, the firm-level findings of this investigation suggest that undervalution of home currency is essential for Bangaldesh which is one of the frontier markets in South Asia whose exporting firms are mostly price followers in global markets.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.987-996
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• 2021

The development of Internet technology can affect firm value through the use of social media by business people. Nowadays, social media affect businesses of all sizes in several different ways. Despite the various benefits obtained by using social media, research at the organizational level and its impact on business performance have not grown as fast as desired. This research aims to examine the effect of social media on oil and gas firms' value. The research sample consists of 9 oil and gas firms listed on the Indonesian Stock Exchange 2013-2018. Social media proxies are firms' social media, other social media mentions, and social media sentiment. Firm value is measured by the market value to assets ratio. Data analysis uses a random-effect regression test. Based on the analysis, the social media account of a firm has a positive effect on firm value. It indicates that social media give advantages for oil and gas firms to give a signal of business prospect, make use of opportunities related to industry alliances, recruit employees globally, and c. On the other hand, the positive sentiment on social media has no effect on oil and gas firms' value.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.363-370
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• 2022

The study aims to probe the impact of foreign ownership on Vietnamese listed firms' capital structure. This study employs panel data of 288 non-financial firms listed on the Ho Chi Minh City stock exchange (HOSE) and Ha Noi stock exchange (HNX) in 2015-2019. In this research, we applied a Bayesian linear regression method to provide probabilistic explanations of the model uncertainty and effect of foreign ownership on the capital structure of non-financial listed enterprises in Vietnam. The findings of experimental analysis by Bayesian linear regression method through Markov chain Monte Carlo (MCMC) technique combined with Gibbs sampler suggest that foreign ownership has substantial adverse effects on the firms' capital structure. Our findings also indicate that a firm's size, age, and growth opportunities all have a strong positive and significant effect on its debt ratio. We found that the firms' profitability, tangible assets, and liquidity negatively and strongly affect firms' capital structure. Meanwhile, there is a low negative impact of dividends and inflation on the debt ratio. This research has ramifications for business managers since it improves a company's financial resources by developing a strong capital structure and considering foreign investment as a source of funding.

• Journal of Distribution Science
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• v.15 no.1
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• pp.115-121
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• 2017

Purpose - Although ensuring that all the organizational members know their roles exactly is an important part of managerial work, few studies address the role clarity in food manufacturing and distribution firms. Role clarity refers to the extent to which individuals clearly understand the tasks, duties, responsibilities, and expectations of their work roles (Hinkin & Schriesheim, 2008). The purpose of this study is to examine the effect of the role clarity on organizational commitment and the mediating role of creativity in the role clarity-organizational commitment relationship. Research design, data, and methodology - Data were collected from 297 employees in food manufacturing and distribution firms of Korea by self-evaluations questionnaires. The unit of the analysis for testing is an individual. We proposed four hypotheses: (1) is about the relationship between role clarity and organizational commitment, (2) is about the relationship between role clarity and creativity, (3) is about the relationship between creativity and organizational commitment, and (4) is about the mediating role of creativity. We conducted the hierarchical regression analysis for testing the main and mediating effects. Results - The results of the study indicated that the role clarity was positively associated with organizational commitment and creativity. Results also indicated that the creativity was positively associated with organizational commitment. Especially, the impact of the role clarity on organizational commitment was mediated by creativity. Conclusions - An important contribution of this study is extending prior theory on the relationship between role clarity and organizational commitment by shedding new light on assumptions regarding the mediating effect of creativity. The results demonstrate that the role clarity has an indirect effect as well as a direct effects on organizational commitment. Our research suggests important implications for organizations that pursue to stimulate their employees' creativity, emphasizing the importance of the role clarity. This study has several potential limitations. Maybe the most serious limitation is its cross-sectional study design. Another limitation is the use of employees' self-reports to measure the variables. In the future, researchers should employ a longitudinal study design and use diverse sources of data.

• Management & Information Systems Review
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• v.23
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• pp.99-134
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• 2007

In recent years there has been much emphasis on the need for service firms to develop an organizational culture which facilitates the successful implementation of marketing activities. This study examines the relationship among marketing culture, service quality, customer satisfaction, and customer loyalty in fast food service firms. The results of empirical analysis can be summarized by the following: First, marketing culture(employee service quality, interpersonal relationships, selling task, organization, internal communications, innovativeness) had a significant direct effect on service quality. Second, marketing culture(employee service quality, selling task, internal communications) had a significant direct effect on customer satisfaction. It had also a positive, significant indirect effect on customer satisfaction through service quality. Third, service quality had a significant indirect effect on customer loyalty through customer satisfaction. Therefore, the results of the study provide the practical implication for establishment of service firms' marketing strategies, related to marketing culture.