• The Journal of Asian Finance, Economics and Business
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• v.8 no.10
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• pp.97-107
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• 2021

Nowadays, with the constant enhancement in the health of the economy, the average income and living standard have accordingly increased, making the need for financial independence a favorable choice. This research aims to identify the factors affecting the financial independence of young people. The authors implement quantitative analysis, with a set of primary data collected from a survey of 2664 Vietnamese people aged from 18 to 28. The research results demonstrate the considerable impact of monetary, psychological, group-related, and family-related factors on the financial independence of young people. The results of the sample analysis provide adequate evidence to reject the correlative relationship between family and group factors and the financial independence of young people. In addition, there are 3 factors, including demographic factors, monetary factors, and psychological factors, all have varying degrees and directions of influence on young people's financial independence. Most of the mentioned variables reflect a positive effect on financial independence. The only exception is the education variable, illustrated by its negative standardized beta value. A significant difference in financial independence between genders also is reported, suggesting that males seem to have a higher level of financial independence than females.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.363-370
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• 2021

This study aims to revisit the issues and misconceptions about financial inclusion (FI) indices. For indices construction, this study uses two approaches: one approach following the methodology of Sarma (2008) which is based on UNDP methodology, while the other is the Dynamic Factor Model (DFM)-based index of Stock and Watson (2002) and Rehman et al. (2021). The data of 18 economies of Asia from 1997 till 2017 is used for indices construction and analysis. The authors constructed macro and micro-level financial inclusion indices based on the different types of financial inclusion indicators. Second, the authors have critically evaluated two different approaches, and the results show that Sarma (2008)-based index show financial inclusion's level, while DFM-based index reveal fluctuation in the current year's financial inclusion level due to the prior variations. For measuring the level of financial inclusion, the Sarma (2008) index is effective, while for forecasting the level of financial inclusion, the DFM approach is more appropriate. Furthermore, the micro and macro aspects of financial inclusion should be reflected in separate indices for better understanding and in-depth insights.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.21-27
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• 2021

The financial sector is one of the most important building blocks of the economy. When this sector efficiently implemented a well-crafted program on banking and financial system to translate financial activities to income-generating activity, economic growth will be realized. Hence, this study analyzed the effect of financial intermediation on economic growth and the existence of cointegrating relationship using time-series data from 1986 to 2015. The influence of financial intermediation in terms of bank credit to bank deposit ratio, private credit, and stock market capitalization and time trend to economic growth was estimated using ordinary least squares (OLS) multiple regression. The results showed that all the financial intermediation indicators and time trend exert significant effect on Gross Domestic Product (GDP) per capita. The positive sign of the time trend indicates that there is an upward trend in GDP per capita averaging approximately 0.06 percent annually. Furthermore, the cointegration test using the Johansen procedure revealed that there is a presence of long-term equilibrium relationship between financial intermediation and time trend and economic growth, and rules out spurious regression results. This study established the idea that financial intermediation in the Philippines has a significant and vital role in stimulating growth in the economy.

• Journal of Distribution Science
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• v.21 no.9
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• pp.43-53
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• 2023

Purpose: This study aims to examine the demographic similarities and differences in objectives, methodology, and findings of previous studies in the context of gaining financial literacy using videos. This study employs a systematic review design. Research design, data and methodology: Based on the content analysis method, 15 articles were chosen from Scopus and Science Direct during 2015-2020. After formulating the research questions, the paper identification process, screening, eligibility, and quality appraisal are discussed in the methodology. The keywords for the advanced search included "Financial literacy," "Financial Education," and "Video". Results: The results of this study indicate the effectiveness of learning financial literacy using videos. Significant results were obtained when students interacted with the video content distribution. The findings of this study provide an overview and lead to a better understanding of the use of video in financial literacy. Conclusions: This study is important as a guide for educators in future research and practice planning. A systematic review on this topic is the research gap. Video learning was active learning that involved student-centered activities that help students engage with financial literacy. By conducting a systematic review, researchers and readers may also understand how extending an individual's financial literacy may change after financial education.

• Journal of Distribution Science
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• v.21 no.12
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• pp.71-81
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• 2023

Purpose: This research aims to analyze the influence of greed, opportunity, need, exposes on fraudulence financial reporting by using the distribution of political connections as a moderating variable. Research design, data, methodology: Using data collected from 180 respondents who were leaders involved in financial reports in state-owned companies and manufacturing companies in South Sulawesi, Indonesia. Data analysis using SEM PLS. Results: The results of this research show that greed, opportunity, need, exposes, political connections have a significant positive effect on fraudulence financial reporting. Political connection is able to moderate greed, need, exposes to fraudulence financial reporting. Furthermore, political connections are unable to moderate the opportunity for fraudulence financial reporting in company. Conclusion: Greed, opportunities, needs, exposes can influence someone to carry out financial fraud reporting in the company because of internal or external factors that cause someone to commit fraud. Every perpetrator of fraud should be subject to punishment or sanctions if proven to have committed fraud. Political connections can influence fraudulent financial reporting due to the potential for intervention and political pressure that can affect the integrity of financial reporting. Political connections are able to moderate greed, need, exposes against fraudulent financial reporting.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.643-651
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• 2021

This study aims to determine the response of regional economic growth to the financial performance of regional economies in regard to the liquidity conditions, saving-investment gaps, trade openness, inflation, as well as the national economic growth. The basic logic theory of research uses the principles of open economics and financial intermediary systems. The data used in this study are secondary data, and the form of data is a quarterly time series for the period from 2008 to 2019. The data were obtained from various publications, such as the Central Statistics Agency (CSA), Regional Financial Economics Statistics (RFES), Indonesian Banking Statistics (IBS), and the Financial Services Authority (FSA). Data processing was done through VAR/VECM analysis; short-term and long-term equilibrium analyses were carried out. The results of the analysis illustrate that regional economic growth and the conditions of liquidity, saving-investment gaps, trade openness, inflation, and national economic growth are related and lead to significant impact variations in the provinces of Papua and West Papua. In conclusion, the findings of this research support the leading supply hypothesis and reformulate the strategy and policy of economic development, bearing in mind that there are still many underdeveloped districts in these two provinces.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.6
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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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• v.8 no.8
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• pp.67-74
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• 2021

This study aims to examine and analyze the effect of Risk Profile, Good Corporate Governance (GCG), Earnings, Capital (RGEC), and Earnings per Share (EPS) on stock prices with financial distress as an intervening variable. The sampling technique used purposive sampling based on certain criteria and data used was secondary data, that is, annual reports of commercial banks in Indonesia for the period of 2012-2018 with a sample of 23 banks from a total population of 81 banks. This type of research is explanative with a quantitative descriptive approach to describe or explain quantitative data. The data obtained was analyzed using SEM (Structural Equation Model) with the AMOS Program. The results showed that RGEC, EPS, and financial distress affect stock prices. This is based on testing the direct effect as indicated by a p-value that is smaller than 0.05. Based on the mediation test, the results show that financial distress cannot mediate the effect of RGEC and EPS on stock prices as indicated by a p-value greater than 0.05. The implication of this research is very important for investors to analyze stock price changes based on RGEC, EPS, and financial distress to gain profits. In addition, there are various warning signs indicating that a company is experiencing financial distress or it is heading towards such a state. Being aware of these signs can help prevent failure.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.169-176
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• 2020

Business going concern is an important issue to be addressed since it determines how companies will survive. One indicator of the going concern problem is going concern opinion. The going concern opinion is a result of evaluation of auditors on going concern assumption of financial reporting. This research aims to examine the effect of opinion shopping, prior opinion, audit quality, and financial condition on going concern opinion. Research sample consists of 80 listed manufacturing companies on the Indonesian Stock Exchange surveyed between 2013 and 2017. Analysis data uses logistic regression. Based on the result, prior opinion affects going concern opinion, while opinion shopping, audit quality, and financial condition have no effect on going concern opinion. The significant effect of prior opinion on going concern opinion indicates that auditors consider the evaluation of the previous condition of companies' concern problematic since going concern is hard to be solved in a short-term period. This research provides recommendations for companies to increase their business ability so going concern problem can be avoided. This research also suggests to auditors to consider prior opinion to issue current opinion since previous companies' condition can be used as a general picture to initiate the auditing process.

• East Asian Economic Review
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• v.23 no.4
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• pp.353-379
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• 2019

This paper aims to determine factors causing the stagnation of Korean firms' fixed investment after the global financial crisis, using panel data for the period of 1999-2016. Fixed investment remained sensitive to cash flow and Tobin's q although their effects decreased after the global financial crisis. A decreasing trend of cash flow and an increase in Tobin's q since the early 2000's imply that the worsening cash flow was a major factor behind the sluggish investment after the crisis. Meanwhile, debt-equity ratio remained significant for non-chaebol affiliated firms, reflecting disparity in access to external financing. Volatility of stock returns also became insignificant after the crisis, casting doubt on the argument that uncertainty was a major factor contributing to the decline of fixed investment. Analysis of financial investment confirmed the significant effect of cash flow, larger than that on financial investment than on fixed investment. In particular, debt repayment and other financial investment, except share repurchase, were sensitive to cash flow. However, the substitution of fixed investment by financial investment is a consequence, rather than a cause of declining fixed investment.