• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.421-431
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• 2021

This study investigates the empirical linkages between ASEAN countries' institutional quality and financial inclusion using country data from 2008-2019. In this paper, six governance indicators from the World Governance index are used to measure the impact of institutions on financial inclusion. The PCA method's financial inclusion index is constructed from 3 indicators: penetration, access, and usage: penetration, access, and usage with six indices respectively as the number of ATMs per 1000 km², the number of bank branches per 1000 km², the number of ATMs per 100,000 people and the number of bank branches for 100,000 adults, the ratio of credit to private to GDP, and the ratio of deposit to private to GDP. Regression analysis with the Generalized Moments method shows the positive impact of institutions and other control variables like GDP per capita, inflation, bank concentration, and human development index on financial inclusion. Therefore, this study recommends that the government and policymakers in countries pursue the financial inclusion agenda to pay attention to the financial and economic indicators and institutional factors. This is because many savers, borrowers, and investors may not be protected when financial contracts are enforced or breaches occur in an environment where economic, legal, judicial, and political institutions are weak, such as in ASEAN countries.

• East Asian Economic Review
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• v.25 no.3
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• pp.273-309
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• 2021

The development of regulatory systems varies between transition and non-transition economies. This suggests that they provide different incentives for entrepreneurial development and could have varied effects on the economy because they have different methods to deal with market failure. However, limited empirical evidence exists to prove the assumption of dichotomy. Using comprehensive data for institutional quality, labor market and financial market development, this research sought to analyze their effect on employment growth at micro level. The results show that the quality of institutions in transition economies are poorer relative to those in non-transition economies, but their financial and labor markets are more developed than the latter. Further analysis for the transition sample shows that the three variables are individually positively related with employment growth. For the non-transition sample, institutional quality and labor market flexibility bear a positive and significant effect on employment. Financial market development enters the model with a negative coefficient when regressed alone, but a joint test of significance finds that all the variables have a positive effect on employment growth. This result could imply that there is interdependence between institutional quality, labor flexibility and financial market development in firm-employment-growth relationship, or complementarity between regulations and the quality of institutions. Alternatively, this finding suggests that a stringently regulated credit market in non-transition economies have a selection effect-allocating credit only to entrepreneurs who already demonstrate strong growth potential. In sum, despite differences in the evolution of regulatory environment between the two samples, both of them complement employment growth at firm level. The overall implication of these findings is that less rigid regulations and coherent policies that are enforced with impartiality provide incentives for firms to expand.

• Journal of the Korean Operations Research and Management Science Society
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• v.29 no.3
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• pp.129-144
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• 2004

The goal of this study is to stress the importance of 6sigma quality management in improving the inner capabilities of manufacturing and the performances of the company. Six Sigma is widely recognized today as a process improvement methodology that can cut costs and eliminate defects in manufacturing processes. In this exploratory analysis. a model is developed and tested to fit research model with the structural equation modeling analysis. In conclusion. 6sigma leadership and flexible organizational culture are the important drivers among 6sigma activities. IT management strategy is significantly related to 6sigma quality management. 6sigma quality management is significantly related to financial performance. In addition. customer satisfaction is significantly related to financial performance.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.34 no.2
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• pp.85-91
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• 2011

The objective of this research is to analyze the effects of quality management system constructed by ISO 9001 certificates through BSC perspectives. Evaluation of quality management system based on BSC framework can consider short-term financial performance as well as nonfinancial performance characteristics, which will derive future financial results. This results show that QMS has an indirect effect on business performance through quality performance and customer satisfaction, which are internal business process and customer perspective, rather than have direct effects on financial performance. Finally we suggest implications of this study and future research direction.

• Journal of Korean Society for Quality Management
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• v.45 no.4
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• pp.903-916
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• 2017

Purpose: The paper analyzes empirically the causal relationship between customer-oriented Quality circle activities and Business Performance for Korean service firms. We compare the operational characteristic behavior of the service firms and business performance. Methods: In this study, we used 3 variables, QC activities, Employee commitment and business performance. Especially, Service SME's QC Circle activities were analyzed in related with growth of company on the basis activities such as Leadership(team), improvement activity, Organizational learning, customer-focus activity and employee suggestion. Results: The result of analysis showed that employee commitment affected significantly on financial performance and non-financial performance and in turn, improvement activities, Organizational learning and customer-focus activity affected significantly on business performance (financial and non-financial). Conclusion: In the summary of the characteristics of this study based on the research results, first, segmenting the QCC activities in the service business into 5 elements can be considered to be differentiated from the existing researches in the aspect of utilizing the organization's objective-oriented variables differently from the researches utilized the variables related personal characteristics. Second, this study suggested the recent research results that suggested the problems of the QCC clearly, through which what new QC story approach was suggested has working level value in the aspect of activating the service QCC.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.795-802
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• 2020

This study seeks to determine the effect of the application of accounting information system (AIS), internal control system, and human resource (HR) competency on the quality of local government financial statements (FS). This study uses agency theory and compliance theory. Agency theory is used to explain that there is a link between the society as the principal and the government as the agent. Compliance theory is a theory, which states that every agency is obliged to comply with regulations because the law-drafting authority has the right to dictate behavior. The population in this study were employees of the financial division of local government organizations in one of the districts in Central Java, Indonesia. The total samples in this study was 106 respondents. The data used are primary data taken from distributing questionnaires to respondents. The method of analysis used to test the hypothesis was multiple linear regression analysis. The results of hypothesis testing indicate that HR competency has an effect on the quality of FS; however, the application of AIS and internal control system has no effect on the quality of FS. The implication of this research underlines the importance of HR competency to improve the quality of local government FS.

• Korean Journal of Social Welfare
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• v.67 no.4
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• pp.51-77
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• 2015

This study attempts to examine the relationship between human resource management & financial resource management and service quality in social service organizations in Korea. This study utilizes '2012 Central Government Social Welfare Facilities Evaluation (CGSWFE)' data and employs multiple regression method to examine research model. The key findings of this study are as follows: (1) after controlling extraneous variables (organizational characteristics), among human resource management related variables, performance appraisal, fringe benefits, supervision, formal grievance procedure, the percentage of employees with certified professional license, and salary have statistically significant relationships with service quality in a positive direction; (2) among financial resource management related variables, the percentage of additional governmental funding beyond basic government subsidies, accounting management, and transparent use and management of donations have statistically significant relationships with service quality in a positive direction; and (3) human resource management related variables are stronger than financial resource management related variables in explaining service quality. The findings imply that more systematic human resource management and financial resource management would be very important in strengthening service quality in social service organizations. This study provides new knowledge foundation regarding the effect of human resource management and financial resource management on service quality in social service organizations.

• Asia Marketing Journal
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• v.13 no.4
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• pp.191-212
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• 2012

With the introduction of the Capital Market Integration Act in 2009, the new competitive scope and paradigm is opened in Korean financial services market. The change of financial industry and institutions will lead to the behavioral change of customers who consume and choose financial services. While researches from the financial perspective have been conducted, works from the marketing or customer oriented approach has long been relatively ignored. The purpose of this study is to investigate influencing factors and process of financial services customers' choice behavior. More specifically, the main theme is how to enhance customer brand loyalty and purchase intention through the perception of overall quality of the service product. An integrated conceptual model including antecedents, mediating variables and consequences is established through comprehensive literature reviews of extant works on environmental change, customer behavioral change and choice behaviors. Hypothesis testing is done with SEM analysis. According to the results, the attractiveness of financial product, the reputation of financial firm, and self-brand image congruence among exogenous variables make a positive effect on perceived overall quality. And perceived overall quality has a significant effect on brand loyalty.

• International Journal of Contents
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• v.14 no.4
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• pp.18-23
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• 2018

Recently, the developments in IT technology and the spread of smart phones have made Fin-Tech, which is a combination of financial services and IT technology, a big issue. In accordance with the growth trend of mobile payments in the world, all financial transactions in Korea are gradually shifting to smart phones. In fact, mobile payment system services are not widely used by users. In particular, the risk factors involved when users want to use the service are one of the factors that hinder the expansion of the usage of mobile financial payment service. The risk factors affect the trust of the mobile payment system users. Therefore, this study investigates the risk factors of the mobile payment system and the manner in which it affects a user's trust. We have also examined as how user's trust affects trust in the quality of the mobile payment system. To this end, the trust in overall quality of use was largely divided into trust in system quality, trust in information quality, and trust in service quality. Perceived finance risk, perceived performance risk, and perceived privacy risk have negative effects on cognitive trust. However, perceived time risk did not affect cognitive trust. User's cognitive trust also has an effect on trust in quality.

• Journal of Families and Better Life
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• v.13 no.4
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• pp.101-114
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• 1995

The purpose of this study was to investigate the factors which influenced the quality of life of elderly women living alone or with the spouse. A survey using interview was administered to 221 elderly women living in Seoul and Pusan The major findings were as follows: 1) The family life satisfaction of elderly women was determined by the quality of relationship with her eldest son's wife shared activities financial strain and location. The determinants of consumer life satisfaction were financial strain materialism tenure and the number of income sources, Housing life satisfaction was influenced by the convenience of neighborhood facilities tenure and housing structure type. 2) The quality of relationship with her eldest son's wife social activities financial strain tenure and the reason for independent household formation explained the variance of the life satisfaction about 29% by using a stepwise multiple regression method.