• The Journal of Asian Finance, Economics and Business
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• v.3 no.4
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• pp.25-37
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• 2016

This study aims to investigate the determinants of dividend payout of Oil and Gas industry of Pakistan using secondary data from published annual reports from 2008 to 2014 listed on KSE (Karachi Stock Exchange). Dividend payout can be affected by profitability, firm size, financial leverage, sales growth, investment opportunities, liquidity, business risk, and ownership structure. Panel data technique used due to panel characteristics of available data with ordinary least square regression model to find out the impact of set of explanatory variables on the dividend payout using the Stata. Financial leverage, sales growth and business risks are the most significant variables of the study where financial leverage and business risk have significant negative effect on dividend payout while sales growth has favorable positive impact on dividend payout. Results revealed significant positive link of profitability and firm size with dividend payout whereas government ownership is negatively associated with dividend payout. Investment opportunities, liquidity and managerial ownership showed insignificant relationship with dividend payout. This Suggests that dividend payout policy is dependent on business strategies including both investment and financing decisions. Financial managers should consider these factors while formulating dividend policy of the firm.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.3
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• pp.43-50
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• 2018

The paper aims to investigate the impact of trade cost on export: A Case Study Vietnam. The study conducts a static linear panel data analysis on annual data covering bilateral export between Vietnam and 70 major importers of Vietnam from 2001 to 2013. The gravity model has been one of the most successful applications in empirical trade. In this paper we apply the gravity model to estimate the impact of trade cost on Vietnamese bilateral export value. The paper uses gravity model to estimate the impact of trade cost on Vietnamese bilateral export value. The empirical results derive from a static linear panel data analysis (fixed effects model) indicates that trade cost plays a crucial role in determining the export value that occurs between Vietnam and trading partners. Besides, population of importing country, trade openness of importing country, gross domestic product of importing country and gross domestic product of Vietnam are also significant determinants of Vietnamese bilateral export value. The main findings indicates that trade cost plays a very important role in the Vietnamese bilateral export performance. This suggests that the Vietnamese government should attempt to improve domestic trade costs to enhance competitiveness and increase export growth sustainably.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.1
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• pp.19-27
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• 2020

This paper aims to empirically study the determinants of liquidity of Indian listed firms. To account for profit persistence, we apply a (pooled, fixed and random) effect models to a panel of Indian listed firms that covers the time period from 2010 to 2016. This study consists of 2154 firms operating in Indian market. Liquidity (LQD) of Indian firms is measured by liquid assets to total assets, whereas bank size, capital adequacy, profitability, leverage, and firm age are used as internal determinants. Further, economic activity, inflation rate, exchange rate, and interest rate are the external factors considered. The findings reveal that leverage, return on assets, and firm age are the essential internal determinants that impact the liquidity of Indian listed firms. Furthermore, among the internal determinants, the results indicate that firm size, leverage ratio, return on assets ratio, and firm age are found to have a significant positive association with firms' LQD, except leverage ratio and firm age has a negative relationship with firms' LQD. From this result, this article has provides helpful ideas and empirical evidence on the inner and external determinants of the companies mentioned in India is very useful to bankers, analysts, regulators, investors and other stakeholders.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.2
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• pp.35-42
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• 2018

In recent decades, financial crises in various countries have often been preceded by the rise in non-performing loans (NPLs) in the banks' asset portfolios. The increase in NPLs is proven to have adverse impact on the banking sector so that understanding the determinant of NPLs is immensely crucial to ensure the efficiency and soundness of the overall economy. This study aims to shed light on bank-specific factors that affect loan default problems in developing countries whose banking sectors play a major role in the overall economy. This study analyzes panel data sets of 36 commercial banks listed in the Indonesian Stock Exchange during the period 2008-2015. Applying fixed-effects panel regression model reveals that Indonesian banks' profitability and credit growth negatively influence the number of NPLs. Moreover, banks with higher profitability are proven to have lower NPLs because they can afford adequate credit management practices. Likewise, banks with higher credit growth evidently have lower NPLs in the sense that they demonstrate more specialized lending activity and thus have better credit management systems. These findings imply that, in order to lower loan defaults that can deteriorate banks' asset quality, banks should maintain their level of profitability and increase, rather than decrease, their credit supply to debtors.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.2
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• pp.5-14
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• 2018

This study is motivated based on concern from some renowned scholars and central bankers whom have raised the issue of the sustainability of the International Monetary System (IMS). Using the panel data set of four major international currencies, USD, JPY, EUR and GBP from 1973 to 2013 with Pooled Mean Group (PMG) estimator, to re-examine whether Triffin dilemma still exists through investigating the relationship between the reserve share, current account balance and real effective exchange rate. The evidence from the result indicates that Triffin dilemma exists only in the long run, and shows that in the long-run, current account balance is proportionate to the increased real effective exchange rate while varies inversely with the reserve shares. However, the estimation for the short-run is not significant to prove the existence of Triffin dilemma. In addition, we investigated the non-dollar panel sample and found that the international monetary system still suffers from Triffin dilemma even without the dollar. To overcome Triffin dilemma, immediate step such as having currency swap mechanism is recommended. In medium term, a multi-polar Monetary System is suggested, and in the longer time, a supranational currency will be used to replace all the currencies in the world.

• Journal of The Korean Digital Architecture Interior Association
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• v.11 no.3
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• pp.35-42
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• 2011

The exterior system of buildings, which is the typical curtain wall, has been made with glass and metal. Theses materials, however, have weaknesses such as inadequate insulating quality, short durability, combustibility and toxic substance. On the other hand, Autoclaved Aerated Concrete(AAC) or Autoclaved Lightweight Concrete(ALC) possess the great energy efficiency and the superb insulating quality as substitute of existing exterior system materials. In this research, strength characteristics and bubble dispersion of hydrothermal synthesis process of AAC based on CaO/$SiO_2$(C/S) ratio are analyzed. C/S ratio is determinated and bubble distribution and compressive strength are studied through the test of varied water-to-solid mineral ratio(W/S). In hydrothermal synthesis program, final C/S ratio is determined as 0.7 consider of the manufacturing process and hydrothermal synthesis is done at $180^{\circ}C$ for 7 hours. The analysis shows slurry has about 2,300cP viscosity and 0.56 specific gravity therefore it is expected AAC has the appropriate facility in the manufacturing process and Hydrates of AAC's Expansion.

• Journal of Electrical Engineering and Technology
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• v.1 no.1
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• pp.110-113
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• 2006

A high rate deposition sputtering process of magnesium oxide thin film in oxide mode has been developed using a 20 kW unipolar pulsed power supply. The power supply was operated at a maximum constant voltage of 500 V and a constant current of 40 A. The pulse repetition rate and the duty were changed in the ranges of $10\sim50$ kHz and $10\sim60%$, respectively. The deposition rate increased with rising incident power to the target. Maximum incident power to the magnesium target was obtained by the control of frequency, duty and current. The deposition rate of a moving state was 9 nm m/min at the average power of 1.5 kW. This result shows higher deposition rate than any other previous work involving reactive sputtering in oxide mode. The thickness uniformities over the entire substrate area of $982mm{\times}563mm$ were observed at the processing pressure of $2.8\sim9.5$ mTorr. The thickness distribution was improved at lower pressure. This technique is proposed for application to a high through-put sputtering system for plasma display panels.

• Journal of the Korean Society of Manufacturing Process Engineers
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• v.6 no.3
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• pp.85-91
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• 2007

This study was carried out to minimize the lifting force of a two hinge type stand mechanism. This unit is designed for the display devices in order to enhance the ergonomics for effective height adjustment and maintenance at any preferred position. The unit will be very useful for the mechanism fabricated with a coil spring and disc springs as a torque generator. The maximum and the minimum torque value should be calculated initially for the smooth lift. And the reasonable torque distribution is necessary to prevent any auto lift and auto dropping at any position because the torque generated by coil spring is more sensitive than disc spring in tilting the position. Therefore, the analysis of the coil spring is requisite to issue the specific torque value depending on the distorted angle with securing reliability of a long time storage condition. After the theoretical torque value was calculated, the evaluation was carried out by making a proto-type sample, then distorted angle was updated by experiment. The result of this study can readily be applied to various units for the optimization of the smooth lift.

• Journal of the Korean Society of Manufacturing Process Engineers
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• v.19 no.4
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• pp.99-104
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• 2020

In this study, the temperature distribution and heat transfer characteristics of each component in a solenoid motor system were numerically investigated when heat is generated by the steel pad attached to the solenoid ring of the motor. It was found that the internal airflow was complicated by the inflow velocity of air and the rotation of guide rollers and solenoid rings. Based on the numerical results, the tendency for temperature changes in the steel panel was lower due to the contact of the cooling air in the front in the rotational direction, and the peak temperature was at the front of the center. In particular, it was confirmed that as the air inflow rate was increased, the temperature was reduced due to strong convection. The temperature of the iron plate pad was decreased as the convective heat transfer coefficient was linearly increased with increasing airflow around the solenoid ring. In addition, the temperature of the iron plate panel was rapidly increased with increasing heat generation.

• Proceedings of the Korean Society for Technology of Plasticity Conference
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• 1995.03a
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• pp.196-202
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• 1995

Drawbead formulation is the first process together with a binder wrap process in a sheet metal forming process. The purpose of a drawbead is to control the flow of the metal into the die in panel press forming. To simulate the drawbead formation process, an elasto-plastic finite element formulation is derived from the equilibrium equation an drelated boundary conditions considering the proper contact conditons. The developed finite element program is applied to drawbead formation in the plane strain condition. The simulation of drawbead formation produces the distribution fo stress and strain along the bead and the resultant elongation of the sheet in the cavity region with respect to various cavity dimensions of the sheet as well as the punch force of a drawbead and the amount of draw-in with respect to the stroke fo a drawbead. The numerical resutls provides the fundamental information as a boundary condition to analyze the complex binder wrap phenomena and panel press forming in simple way.