• The Journal of Asian Finance, Economics and Business
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• 제9권6호
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• pp.11-21
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• 2022

The perspectives on aging women's financial security during their retirement years are based on their behavior, planning, and decision-making processes during their working years. Elderly women are considered vulnerable and have a longer life expectancy, lower-income, and limited financial understanding compared to males; therefore, drastic steps need to be taken to improve their financial stability and quality of life. The current study sought to determine the most important contributors to retired women's financial health by measuring the value of four factors/variables: capability, opportunity, willingness, and biopsychosocial. This study used a mixed model approach, with qualitative analysis in the first phase involving a focus group discussion session, a pilot analysis, and quantitative analysis for phase two involving the distribution and collection of questionnaires completed by retired women. The surveys were distributed across Malaysia in five distinct zones and yielded 339 usable replies to support the theory. The outcomes of the Multiple Regression Analysis in Malaysia revealed that capability, opportunity, and biopsychosocial factors are significant predictors of retired women's financial security, whereas the willingness indicator lacked statistical significance.

• 웰빙융합연구
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• 제5권4호
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• pp.11-17
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• 2022

Purpose: This study discusses how Indonesia's response to the Corona Virus Disease-19 pandemic based on the perspective of housing policy capacity which consists of resources, organizations, and networks, politics, systems, and finance. Research design, data and methodology: This study used a qualitative method through a literature review. Data collection techniques were carried out by searching various sources and literature related to housing capacity theory and various data on Indonesia's response to the Covid 19 pandemic. Based on a literature review, this study adapted and modified the five components of capacity, namely resource capacity, organizational and network capacity, political capacity, system capacity and financial capacity in Indonesia in responding to the Covid-19 pandemic. Data analysis used analytical themes which consist of understanding the data, generating initial codes, looking for themes, reviewing themes, defining and naming themes, producing of manuscripts. Results: The results show that the weakness of the system capacity greatly affects Indonesia's housing policy capacity in responding to the Covid-19 pandemic and on the other hand the five housing capacities are an integrated process within the housing policy framework in Indonesia, especially to overcome the Covid-19 pandemic. Conclusions: The findings of this study are the importance of building a system capacity that is directly integrated with housing policy and the strengthening of the resources capacity, organizations, and networks, politics, and finance in the context of Indonesia's housing policy, especially in dealing with the Covid-19 pandemic situation.

• 산업경영시스템학회지
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• 제45권3호
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• pp.90-103
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• 2022

The purpose of this study is first to understand whether technology innovation capability, which is considered an important factor in the Root companies, directly affects the business performance of the company. Second, it was attempted to determine whether internal resources deemed necessary for a company's continuous competitive advantage and excellent business performance play a mediating role in the technological innovation capability of the Root companies and the business performance. The implications of this study derived from the research results are as follows: Among the elements of technology innovation capability, R&D capability, positively affects both financial and non-financial performance. It was confirmed that the investment ratio could positively affect financial performance such as sales, market share, and yield, and non-financial performance such as corporate image, employee satisfaction, and productivity. Among the factors of technology innovation capability, the technology innovation system positively affects both financial and non-financial performance. Therefore, it can be said that securing rights to owned technology, establishing technology and funding, efficient use of resources, etc., affects financial performance such as sales or market share of a company, and affect the company's production capacity, image, and employee satisfaction. It has been verified that internal resources, including financial, physical, and human resources, can mediate between the three elements of technology innovation capability and corporate financial and non-financial performance.

• International Journal of Computer Science & Network Security
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• 제21권12spc호
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• pp.503-512
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• 2021

The article proposes a methodical approach to assessing the innovative capacity of agri-food enterprises. This approach is based on the calculation of personnel, investment, technical and technological, information components of the ability of agri-food enterprises to innovate. The algorithm of search of production, intellectual, financial, information resources reserves, which are necessary for functioning of the enterprises of agro-food sphere, is defined. The approach developed by the authors, in contrast to the existing ones in the scientific world, allows the tools of mathematical modeling to identify shortcomings in the development of agri-food enterprises, to forecast the development of these enterprises and on this basis to form different models of market stakeholders. The method proposed by the authors to assess the innovative capacity of agri-food enterprises allows market participants to assess the current state of agri-food enterprises and form the necessary management levers to influence its activities to eliminate market failures and pitfalls.

• 유통과학연구
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• 제21권9호
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• pp.93-102
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• 2023

Purpose: This study attempts to analyze the current status of the railway logistics business and to seek ways to improve it by using the business model as an analytical framework. It was intended to reflect practical implications that could be applied to the field, by dealing with issues at the industrial site related to each component in the business model. Research design, data and methodology: This study was conducted through literature review and field research. We analyzed academic papers and industrial reports on the development of the railway logistics industry and interviewed various stakeholders in the railway logistics industry. Results: This study determined the factors that could be eliminated, raised, reduced, or created from the customer and product perspective, infrastructure management perspective, and financial perspective. Conclusions: The growth of existing business can be achieved by lowering service prices, improving service quality, and securing large-scale transportation capacity. The additional transportation of high value goods and cold chain commodities will be promising business opportunities. Existing services can be provided to new customers (large pre-shippers, forwarding customers, etc.) in order to increase the size of sales Urban delivery services and comprehensive logistics services based on complex logistics centers may open an avenue for new market. A more timetable and track capacity need to be assigned to logistics, which significantly improve the flexibility and the competency of railway logistics.

• Journal of Electrical Engineering and Technology
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• 제13권6호
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• pp.2203-2211
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• 2018

Capacity payment mechanism has been adopted as the incentive scheme to achieve resource adequacy in Korean electricity market, however, the level of capacity price has been controversial due to its insufficient extent to incur financial loss for certain generators. Therefore, a new method is proposed to estimate the proper level of capacity price incorporating profitability of market participants and resource adequacy in this paper. The proposed method is successfully applied to test system based on Korean power system.

• The Journal of Asian Finance, Economics and Business
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• 제9권2호
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• pp.177-183
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• 2022

The COVID-19 pandemic has hurt the economy and negatively impacted all enterprises' financial performance. The COVID-19 pandemic has put a strain on global manufacturing capacity and supply chains, and it is also the pandemic that has given up new opportunities for the logistics industry to develop as e-commerce has developed. By analyzing the financial performance of logistic firms listed on the Vietnam Stock Exchange, this study tries to quantify those consequences. A total of 114 logistic companies were included in the study's sample. The Wilcoxon Signed Rank Test was performed to test the difference between some ratios in 2019 and 2020. This study found that the financial performance of 114 logistic firms listed on the Vietnam stock exchange has not improved. The data show that during the COVID-19 pandemic, the leverage ratio increased while the profitability and efficiency ratios decreased. The liquidity ratio did not show any significant differences. On the contrary, these businesses' performance, such as returns on assets, receivable turnover, and leverage, has decreased. The COVID-19 had a global impact on supply chains, therefore export activity and international transportation were badly hampered, with only a few domestic logistic enterprises growing.

• 유통과학연구
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• 제13권9호
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• pp.47-57
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• 2015

Purpose - The aim of this paper is to investigate the explanatory power of the Pecking-order theory (the cost of financing increases with asymmetric information) among Korean retail firms from the perspective of debt capacity. According to the Pecking-order theory, a firm's first preference is to use internal funds for its capital needs, its next preference is the issuance of debt, and its last preference is the issuance of equity; this is due to the information asymmetry problem between existing shareholders and investors. However, prior empirical studies, such as Lemmon and Zender (2010), argue that the entire sample test for the Pecking-order theory could be misleading due to the different levels of debt issuance capability of each of the individual firms; in fact, they confirm that the explanatory power of the Pecking-order theory improves after taking into account the differences in debt capacity of the U.S. firms they examined. This paper implements a case study approach among Korean retail firms to examine the relationship between debt capacity and the explanatory power of the Pecking-order theory in Korea. Research design, data, and methodology - This study uses the sample of public retail firms on the Korea Composite Stock Price Index (KOSPI) from the time period of 1990 to 2013. We gather related financial and accounting statements from the financial information firm WISEfn. Credit rating information is provided by the Korea Investor Service. We employ the models of Lemmon and Zender (2010) and Son and Kim (2013) to measure a firm's debt capacity. Their logit models use the rating dummy variable as a dependent variable and incorporate other firm characteristics as independent variables to estimate debt capacity. To test the Pecking-order theory, we adopt variants of the financing deficit model of Shyam-Sunder and Myers (1999). In the test of the Pecking-order theory, we consider all of the changes in total debt obligations, current debt obligations, and long-term debt obligations. Results - Our main contribution to the literature is our confirmation of the predicted relationship between debt capacity and the explanatory power of the Pecking-order theory among Korean retail firms. The coefficients on financing deficits become greater as a firm's debt capacity improves. This is consistent with the results of Lemmon and Zender (2010). The coefficients on the square of the financing deficits are also negative for the firms in the largest debt capacity group, which is also consistent with the predictions in prior literature. Conclusions - This study takes a case study approach by examining Korean retail firms. We confirm that the Pecking-order theory explains the capital structure of retail firms more appropriately, after taking into account the debt capacity of each firm. This result suggests the importance of debt capacity consideration in the testing of the Pecking-order theory. Our result also implies that there has been a potential underestimation of the explanatory power of the Pecking-order theory in existing studies.

• 벤처창업연구
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• 제15권6호
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• pp.115-133
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• 2020

최근 4차 산업혁명을 비롯해 산업의 패러다임의 급속한 변화에 따라 중소·벤처기업의 생존과 지속 가능한 성장은 더욱 어려운 환경에 직면하게 되었는데, 시장에 대한 기업의 적응능력은 더욱 중요하다. 대부분 선행연구 결과는 기업역량은 조직역량을 통해서 경영성과 간에 긍정적인 상호연관성을 확인 하였고, 이들 상호 간에 최적의 조합을 이를 때 최고의 기업성과가 이뤄진다는 것이다. 그런데 조직역량, 시장적응역량, 기업성과에 관계에 대한 연구는 미흡하다. 따라서 매우 중요한 역할을 수행하고 있는 조직역량이 경영성과에 어떠한 영향을 미치는지, 그리고 이러한 관계에 있어 시장적응역량이 어떠한 역할을 하는지를 파악할 필요가 있다. 본 연구는 기존의 조직역량, 시장적응역량에 관련 연구를 고찰하고, 이를 바탕으로 조직역량을 재구성하여 조직역량 및 기업성과에 미치는 영향에 대한 이론적인 연구모형을 개발하였다. 본 연구는 실증분석 결과에 따라 첫째, 흡수역량은 민첩성에 유의한 영향을 미치는 것으로 나타났다. 둘째, 혁신역량은 유연성에 유의한 영향을 미치는 것으로 나타났다. 셋째, 혁신역량은 기업성과에 유의한 영향을 미치는 것으로 나타났다. 넷째, 유연성은 기업성과에 유의한 영향을 미치는 것으로 나타났다. 다섯째, 조직역량과 기업성과간의 유연성의 매개효과를 검증하였다. 따라서 회사의 혁신역량과 유의성이 회사의 성과 향상 시키는게 매우 중요하다. 회사가 외부의 지식과 기술을 빠르게 흡수하여 내부 지식과 통합해 경쟁력 있는 새로운 제품과 기술을 혁신하고 개발할 수 있도록 하는 것이 중요하다. 불확실한 환경에 직면한 회사가 신속하게 대응하고 시간을 단축해 새로운 환경에 적응하면 궁극적으로 회사의 재무 및 비 재무성과에 긍정적인 영향을 미친다.

• East Asian Economic Review
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• 제24권1호
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• pp.89-124
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• 2020

Even with the sizable Foreign Exchange (FX) holdings and good credit ratings of its top assets, Asia remains vulnerable to various shocks. This paper highlights the limited cross-border asset pledgeability as a significant factor for the lingering vulnerability in Asia. The dichotomy in asset holdings between pledgeable FX and non-pledgeable domestic assets in major economies in Asia has been the source of increasing stabilization costs as well as weakened market momentum in the region. Specifically, the peculiar feature of asset holdings in Asia reflects seriously deficient cross-border asset pledgeability that is left unaddressed. Asset pledgeability contributes toward financial stability via three channels: 1) capital market development by recognizing the role of collateral, 2) increased shock absorption capacity via collateral management, 3) and the newly activated safe asset provision. Therefore, it is crucial to go beyond the usual market development strategy and expand the overall asset pledgeability in the region that has remained unduly depressed.