• The Journal of Asian Finance, Economics and Business
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• v.7 no.1
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• pp.167-181
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• 2020

The relationship between corporate board attributes and dividend payout is already established yet mediating role of leverage in not been examined in Malaysian market. Therefore, this study aims to examine the mediating effect of financial leverage on the relationship between corporate board attributes and the dividend pay-out policy. A sample of 203 non-financial firms listed on the BURSA Malaysia between 2005 and 2018 were analysed using SmartPLS 3.0. The findings show that there is a partial mediating effect of financial leverage on the relationship between board members age, board diversity and dividend pay-out policy. Financial leverage also mediates the relationship between number of women on board, CEO-duality and dividend pay-out policy. However, financial leverage doesn't mediate the relationship between board size and dividend pay-out policy. This study offers insights to policy-makers to develop a better corporate governance as well as a guidance to firms in the construction and implementation of their corporate governance policies in relation to financial leverage. This study also shed light on the influence of efficient corporate board attributes on dividend pay-out policy and financial leverage for firm growth. This study concludes that corporate board attributes impact capital structure and thus, firms may change its payout policy.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.791-800
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• 2021

Along with the trend of financial globalization, Vietnam has undergone a process of increasing financial integration. The great capital inflow poses a problem for the monetary policy's ability to follow a planned target during the changes in the global financial markets. This paper aims to examine the impact of financial integration on monetary policy independence in Vietnam and investigate the role of foreign exchange reserves on this relationship. The research borrows from Mundell-Fleming's Trilemma theory. The results show that increasing financial integration reduces the independence of monetary policy in the short term, and foreign exchange reserves have not shown an apparent role in Vietnam. In addition, increasing exchange rate stability has a negative impact on the independence of monetary policy, but it has an impact on growing market confidence and partly supporting the management process of monetary policy in the short term. Therefore, in the long run, Vietnam needs to allow exchange rate flexibility more, but there should not be sudden changes; the size of foreign exchange reserves should be strengthened to facilitate the implementation of an independent monetary policy with an obvious impact in the context of an increasing scale of international capital flows in the future.

• International Journal of Computer Science & Network Security
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• v.21 no.9
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• pp.239-246
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• 2021

This article substantiates the scientific provisions for modelling the level of Ukraine's public financial security taking into account the impact of budget policy, in the process of which identified indicators of budget policy that significantly affect the public financial security and the factors of budget policy based on regression analysis do not interact closely with each other. A seven-factor regression equation is constructed, which is statistically significant, reliable, economically logical, and devoid of autocorrelation. The objective function of maximizing the level of public financial security is constructed and strategic guidelines of budget policy in the context of Ukraine's public financial security are developed, in particular: optimization of the structure of budget revenues through the expansion of the resource base; reduction of the budget deficit while ensuring faster growth rates of state and local budget revenues compared to their expenditures; optimization of debt serviced from the budget through raising funds from the sale of domestic government bonds, mainly on a long-term basis; minimization of budgetary risks and existing threats to the public financial security by ensuring long-term stability of budgets etc.

• The Journal of Society for e-Business Studies
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• v.2 no.1
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• pp.153-185
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• 1997

As the computer-based electronic processing of financial transactions become more and more popular in financial areas, the need for more efficient and secure infrastructure has been increased. This Paper addresses the current status and Policy issues in building such infrastructure for electronic financial transactions in Korea. We examine our financial computer networks, electronic payment and clearing systems, standardization, and related laws, comparing with those in United States, Japan, and European countries and suggest policy recommendation in each area.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.531-541
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• 2020

This study aims to determine the nature of the association between dividend policy and a corporation's financial performance in emerging countries, as well as the main variables that may have an effect on financial performance. The study included 92 industrial and service sector companies listed on the Amman Stock Exchange (ASE) during the period from 2015 to 2019. The study used Panel Data Analysis and cross-sectional time-series data and simple and multiple linear regression models. A multiple regression model was also developed in order to test whether guess factors may have a possible impact on financial performance (such as Dividend Yield, Dividend Pay-out Ratio, Firm Size, Leverage Ratio, Current Ratio). The data was collected from the annual reports and information that was available on the ASE website covering the period from 2015 to 2019. The results detect a strong relation between DY, DPR, and FSIZE variables that explain firm performance. Also leverage ratio is negatively and significantly associated with ROA and AOE. Moreover, no relations were detected between current ratio and financial performance. The study's conclusion is that dividend policy explains a lot of a company's financial performance, meaning that the dividend policy has a statistically significant impact on company financial performance.

• Health Policy and Management
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• v.22 no.3
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• pp.383-402
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• 2012

The purpose of this study is to investigate the factors affecting family caregiver financial burden of out-of pocket expenses for the nursing home service under Long-term Care Insurance System. We conducted a national cross-sectional descriptive survey from July to September 2010 to collect data based on the long-term care benefits cost specification. Total 1,016 family caregivers completed questionnaires. 185 subjects of total were excluded from the data analysis due to being answered by user(18 cases), or caregivers not to pay for services expenditures(122 cases), having a missing data on family caregivers characteristics(45 cases). Finally, 831 subjects were included in the study. The average financial burden was 3.18(${\pm}0.71$). We divided subjects into two groups by level of burden, high-burden group and low-burden group. In the result of the multiple logistic regression analysis, family caregiver financial burden was significantly higher in family caregivers with ages 40 to 49 compared to less than 40, lower educational level, unsatisfaction for long-term care service, high percentage(more than 50%) of cost-sharing and high total out-of pocket expenses(more than 300,000 won) for long-term care services. Also, Family caregivers who are spouse felt higher financial burden compared to son. This study is meaningful as the first attempt to measure family caregiver financial burden for long-term care service and to identify factors affecting the financial burden. Family caregivers felt financial burden of out-of pocket expenses for the nursing home service. The policy makers, the insurer, and the providers need to pay attention to ease family caregiver financial burden.

• East Asian Economic Review
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• v.27 no.2
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• pp.115-143
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• 2023

In this paper, we address how the monetary authority should react to financial market status and exchange rate movements in a small open economy New Keynesian model with financial frictions due to asymmetric information between savers and borrowers. We show that the small economy with financial frictions is more susceptible to the exogenous shocks under the fixed exchange rate regime than under the flexible exchange regime. The small economy experiences a more prolonged and deeper economic recession under the fixed exchange rate regime than under the flexible exchange rate regime. The monetary policy taking into account external finance premium is better than the interest rate rule without considering the financial market status.

• Journal of Digital Convergence
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• v.11 no.11
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• pp.279-287
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• 2013

This paper proposes several alternative government financial supporting policy on IT-related small and medium sized enterprises. First, this paper considers reforming factors relating to current financial supporting policy and studies foreign government supporting loan programs through benchmarking so as to derive alternative financing supporting policy. Secondly, this paper analyses several investment supporting policies on IT-related small and medium sized enterprises. Finally, new Korean government financial supporting policy on IT-related small and medium sized enterprises is collectively diagnosed by putting comprehensive analyses together in this paper.

• International Journal of Computer Science & Network Security
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• v.22 no.7
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• pp.75-84
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• 2022

The efficiency of the regional fiscal policy implementation is based on the achievement of target criteria in the formation and distribution of own financial resources of local budgets, reducing their deficit and reducing dependence on transfers. It is also relevant to compare the development of financial autonomy of regions in the course of decentralisation of fiscal relations. The study consists in the cluster analysis of the effectiveness of fiscal policy implementation in the context of 24 regions and the capital city of Kyiv (except for temporarily occupied territories) under conditions of fiscal decentralisation. Clustering of the regions of Ukraine by 18 indicators of fiscal policy implementation efficiency was carried out using Ward's minimum variance method and k-means clustering algorithm. As a result, the regions of Ukraine are grouped into 5 homogeneous clusters. For each cluster measures were developed to increase own revenues and minimize dependence on official transfers to increase the level of financial autonomy of the regions. It has been proved that clustering algorithms are an effective tool in assessing the effectiveness of fiscal policy implementation at the regional level and stimulating further expansion of financial decentralisation of regions.

• KDI Journal of Economic Policy
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• v.42 no.4
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• pp.59-90
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• 2020

U.S. monetary policy has been claimed to generate global spillover and to destabilize other small open economies. We analyze the effects of certain identified U.S. monetary shocks on gross capital flows in the Korean economy using the local projection method. Consistent with previous results on other small open economies, we initially confirm that U.S. interest rate hikes are dynamically correlated with foreign outflows and residents' inflows. That is, not only are they correlated with withdrawals by foreigners but they are also correlated with those by domestic (Korean) investors. The results are mostly driven by portfolio flows. Second, however, the marginal response to a U.S. monetary policy shock is, on average, subdued if we focus on the sample periods after the Global financial crisis of 2007-2008 (henceforth, global financial crisis). We conjecture a possible reason behind the change, an institutional change related to financial friction. If the degree of pledgeability of the value of net worth increases, the marginal responses by both investors would drop with a U.S. monetary policy shock, consistent with our findings.