• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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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.

• 한국수산경영학회:학술대회논문집
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• 한국수산경영학회 2007년도 추계학술발표회 및 심포지엄
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• pp.167-184
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• 2007

The objectives of this paper are to identify the causes of the corporate distress and to develop a distress prediction model with the financial information in fishery industry. In this study, the corporate distress is defined as economic failure and technical insolvency. Economic failure occurs by reduction, shut-down, or change of the business and technical insolvency results from failure to pay the financial debt of companies. The 33 distressed firms from 1991 to 2003 were composed by 14 economic failure companies, 15 technical insolvency companies. 4 companies applied to the both cases. The analysis of distress prediction of fishery companies were accomplished according to the distress definition. The analysis was carried out as two steps. The first step was the univariate analysis, which was used for checking the prediction power of individual financial variable. The t-test is used to identify the differences in financial variables between the distressed group and the non-distressed group. The second step was to develop distress prediction model with logistic regression. The variables showed the significant difference in univariate analysis were selected as the prediction variables. The financial ratios, used in the logistic regression model, were selected by backward elimination method. To test stability of the distress prediction model, the whole sample was divided as three sub-samples, period 1(1990$\sim$1993), period 2(1994$\sim$1997), period 3(1998$\sim$2002). The final model built from whole sample appled each three sub-samples. The results of the logistic analysis were as follows. the growth, profitability, stability ratios showed the significant effect on the distress. the some different result was found in the sub-sample (economic failure and technical insolvency). The growth and the profitability were important to predict the economic failure. The profitability and the activity were important to predict technical insolvency. It means that profitability is the really important factor to the fishery companies.

• 수산경영론집
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• 제39권2호
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• pp.61-79
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• 2008

The objectives of this paper are to identify the causes of the corporate distress and to develop a distress prediction model with the financial information in fishery industry. In this study, the corporate distress is defined as economic failure and technical insolvency. Economic failure occurs by reduction, shut - down, or change of the business and technical insolvency results from failure to pay the financial debt of companies. The 33 distressed firms from 1991 to 2003 were composed by 14 economic failure companies, 15 technical insolvency companies. 4 companies applied to the both cases. The analysis of distress prediction of fishery companies were accomplished according to the distress definition. The analysis was carried out as two steps. The first step was the univariate analysis, which was used for checking the prediction power of individual financial variable. The t - test is used to identify the differences in financial variables between the distressed group and the non - distressed group. The second step was to develop distress prediction model with logistic regression. The variables showed the significant difference in univariate analysis were selected as the prediction variables. The financial ratios, used in the logistic regression model, were selected by backward elimination method. To test stability of the distress prediction model, the whole sample was divided as three sub-samples, period 1(1990 - 1993), period 2(1994 - 1997), period 3(1998 - 2002). The final model built from whole sample appled each three sub - samples. The results of the logistic analysis were as follows. the growth, profitability, stability ratios showed the significant effect on the distress. the some different result was found in the sub - sample (economic failure and technical insolvency). The growth and the profitability were important to predict the economic failure. The profitability and the activity were important to predict technical insolvency. It means that profitability is the really important factor to the fishery companies.

• 한국수학교육학회지시리즈B:순수및응용수학
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• 제24권3호
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• pp.171-178
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• 2017

In this paper, we define $C^*-ternary$ quadratic 3-Jordan homomorphisms associated with the quadratic mapping f(x + y) + f(x - y) = 2f(x) + 2f(y), and prove the Hyers-Ulam stability of $C^*-ternary$ quadratic 3-Jordan homomorphisms.

• 문화기술의 융합
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• 제8권2호
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• pp.47-52
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• 2022

본 연구는 중국 상업은행의 대출자산에 대한 위험도를 확인하고, 중국 상업은행의 안정성에 영향을 주는 요인이 무엇인지 분석하고자 함이 목적이다. 또한 자산규모 2천억 위안을 기준으로 중국 상업은행을 구분하고, 규모에 따른 안정성의 차이를 규명한다. 분석결과는 다음과 같다. 첫째, 중국 상업은행의 가계대출비중과 기업대출비중이 증가할수록 은행의 안정성은 낮아지는 것으로 추정되었다. 현재 중국 금융당국이 은행의 부실자산 비중을 낮추기 위해 대출자산을 보수적으로 운용하도록 제한하고 있으나, 향후 적정 예대율 기준을 설정하여 대출자산에 대한 선제적인 리스크 관리가 필요할 것이다. 둘째, 은행자산 2천억 위안을 기준으로 하여 대형은행의 안정성을 분석한 결과 규모가 큰 대형은행의 안정성이 더 낮은 것으로 추정되었다. 대형은행들은 대마불사의 원칙에 근거하여 공격적인 대출자산운용이 이루어질 가능성이 크므로 안정성이 더 낮아질 수 있는 만큼 앞으로 지속적인 부실자산에 대한 관리가 요구된다. 본 연구는 중국 상업은행의 대출자산 운용이 재무안정성에 미치는 영향을 추정함으로써 중국 상업은행들의 안정성 제고를 위한 바로미터가 될 것이라고 본다. 특히 대형은행들의 안정성을 규명해 봄으로써 대형은행의 취약점을 진단하여 지속가능한 금융산업 발전을 위한 전략이 요구됨을 시사한다.

• 보건의료산업학회지
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• 제11권1호
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• pp.11-25
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• 2017

Objectives : The purpose of this study is to analyze the differences in financial performance, productivity, and patient care performance between metropolitan and non - metropolitan hospitals and examine the factors affecting profitability of both groups. Methods : The survey period consisted of three years of data that can identify the financial performance of the hospital. The survey subjects were selected from 58 metropolitan hospitals, 87 non - metropolitan hospitals and 147 hospitals. Results : There was a significant difference in stability, activity, cost index, productivity, and patient care performance between the metropolitan and non - metropolitan hospitals, and metropolitan hospitals showed a relatively higher ratio. Conclusions : In the metropolitan and non-metropolitan hospitals, the variables of productivity and cost index increase the profitability. However, if the factors with less influence on the results of the study are applied to the variables of various situations, it may have a great influence on the profitability increase.

• 한국사회복지학
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• 제44권
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• pp.64-90
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• 2001

There has been a demand of changing service delivery system for social welfare services, and therefore changing is resource acquisition environment for community social welfare service organizations (CSWSOs). These phenomena are, however, not properly actualized through the CSWSOs. The discrepancy between environmental demand and organizational adaptation seems to result from our lack of understanding those organizations. Based on this understanding, several research problems have been formulated on resource acquisition behaviors of CSWSOs. Empirical data were gathered, and the final sample included 82 social welfare agencies of Pusan province and 122 top/high level agency administrators. The result of data analysis and their implications are as follows: (1) Most of CSWSOs prefer government grants to other financial resources, because government resources can give them more stability than others including private donations and user fees. (2) In order to induce changes in CSWSOs, their stability needs should be properly counted. (3) There is no enough evidence to prove that CSWSOs leaders' personal characteristics have contributed to the behavioral differences on financial resource acquisition among CSWSOs. Rather, there has been enough evidence to prove for influences by institutional environment factors. So, it is recommended that, in order to change behaviors of CSWSOs, the focus should be given to the proper control of those institutional environment factors.

• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.833-840
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• 2021

This paper examines the effect of the interest rate set by Bank Indonesia on financial system stability as measured by the credit gap in Indonesia for quarterly data for the period 1976 Q1 to 2019 Q4. We suppose that the relationship between the Central Bank rate and the credit gap is non-linear. Hence, this study applies a smooth transition regression (STR) model to investigate the relationship between these variables. Our results are: first, by performing STR estimation we obtained a threshold level of Central Bank rate of 2.01. Second, a decrease in the Central Bank rate results in a reduction in the credit gap when the Central Bank rate is above or below the threshold level. The effect of the Central Bank rate is five times greater for the high regime than for the low regime. Third, we find evidence that the effect of the exchange rate, economic growth, inflation, and GDP per capita on the credit gap for the high regime is the opposite of the low regime. We suggest that policymakers need to keep the Central Bank interest rate low and stable so that the role of the bank as a financial intermediary remains stable and conducive to strengthening financial stability.

• 한국병원경영학회지
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• 제22권2호
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• pp.44-57
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• 2017

The objective of this study is to investigate financial integrity strategies for sustainable development of local public medical centers, and particularly focus on seeking ways to enhance its financial efficiency and publicness. The data which was collected from 33 local public medical centers was analyzed by Data Envelopment Analysis to measure its financial efficiency. Then, Matrix Analysis was used to examine the association of financial efficiency and publicness of local public medical centers with related factors. In the aspects of facilities and location, according to the results, the local public medical centers which have larger number of available hospital beds or located in bigger cities were examined to have higher degree of publicness. In the aspect of human resources, greater number of doctors made both financial efficiency and the degree of publicness decreased, whereas higher participation rate of educational program for doctors affects increasing its financial efficiency and publicness. Lastly, in the aspect of costs, higher labor, material, and administrative cost diminished financial efficiency, but enhanced the degree of publicness. Based on these results, this study concluded that enhancing the publicness of local public medical centers should be pursued by increasing the accessibility with better facilities and location, and also concurrently organizing rational expenditure structure with appropriate cost investment to the resources of local public medical centers. Also, it is necessary to enhance both financial efficiency and publicness simultaneously by improving the quality of health care services through the educational programs for medical staffs.

• The Journal of Asian Finance, Economics and Business
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• 제8권11호
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• pp.11-19
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• 2021

The aim of this paper is to evaluate the impact of the COVID-19 pandemic on the stock prices of the companies traded on the UAE financial markets (Abu Dhabi Securities Exchange and Dubai Financial Market). The time series regressions have been applied to estimate the impact of COVID-19 data on the companies' stock prices movements. The data cover the period between January 29^th, 2020, and January 5^th, 2021. The data was collected from the website of the Federal Competitiveness and Statistics Centre of the UAE. The empirical results of this study show that the stock prices are negatively and significantly affected by the number of COVID-19 positive cases and the number of death while they are positively and significantly affected by the number of recoveries. The results vary from one industry to another. These results would be important to the policymakers and financial regulators in developing the needed policies to improve the stock markets' resilience and maintain financial and economic stability. In addition, the findings would be useful to the investors and portfolio managers in taking the most appropriate investment decisions and managing more efficiently their portfolios. This paper will shed light on the responsiveness of the UAE financial market to the COVID-19 pandemic.