• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.489-495
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• 2020

Income inequality is a problem that is not only faced by developing countries such as Indonesia, but also developed countries. The difference lies in the proportion of an inequality that occurs and the solution to the level of difficulty experienced. Thus, this study aims to empirically analyze the unequal distribution of population income in Java island, Indonesia, by including the human development index, open unemployment rate, foreign investment, and the degree of fiscal decentralization. The research model used in this study was multiple linear regression to analyze the panel data with a fixed-effect model approach. The results of the study showed that human development index, open unemployment rate, and the degree of fiscal decentralization had a positive and significant effect on income inequality in Java island. Meanwhile, foreign investment had a negative and insignificant effect on income inequality in Java. It is because the value of the investment is more invested in the capital-intensive sector. The government is expected to be more selective in accepting foreign investments that enter the country, especially in Java, and it should be labor-intensive investments. In addition, the government has to equalize locations for foreign investment without reducing good cooperation with these foreign investors.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.107-117
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• 2020

The research objective of the paper is to clarify the factors influencing system risks of listed companies in Vietnam, with a focus on clarifying the relationship and quantifying the impacts of ownership structure on systemic risk of listed companies. The data used in this study included financial statements and stock price data of listed companies on the Ho Chi Minh City Stock Exchange and Hanoi Stock Exchange of Vietnam stock market in the period from 2010 to 2017. The paper used the method of estimation in establising the regression models to choose among three models: Random Effect Model, Fixed Effect Model or Pooled OLS for regression using Stata statistical software. The research results showed that state ownership and ownership by foreign investors were positively related to systemic risk, while ownership by domestic investors had a reverse relationship with systemic risk of listed companies in Vietnam. In addition, as a control variable, both company size and profitability had an effect on the systemic risk of listed companies in the research sample. Based on the research results, the authors interpreted some of the implications in order to minimize systemic risks in the operation of listed companies in Vietnam.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.501-508
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• 2021

The largest source of revenue in Indonesia comes from the taxation sector. Taxes increase the state revenue, which the government utilizes for building public facilities and infrastructures, providing subsidies to the public, financing public interests, and so on. In addition to producing revenue, taxes may be used to promote economic stability. Thus, this study aims to examine and analyze the financial aspects of tax aggressiveness. The financial aspects include leverage, capital intensity, inventory intensity, and earning management. The population used in this study was manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2016-2019 period. Data analysis was carried out based on Eviews, with a selected sample of 32 companies of four observation years. Therefore, the number of samples was 128. The results of this study revealed that the best estimation model to use is the Fixed Effect Model (FEM). This study proved that leverage and earning management had a positive and significant effect on tax aggressiveness. In contrast, capital intensity and inventory intensity did not affect tax aggressiveness. In addition, the result of this study is still far from perfect. It is, therefore, hoped that further research can add other variables to find better results.

• Smart Structures and Systems
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• v.31 no.5
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• pp.455-467
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• 2023

Impact damper is a passive damping system that controls undesirable vibration with mass block impacting with stops fixed to the excited structure, introducing momentum exchange and energy dissipation. However, harmful momentum exchange may occur in the random excitation increasing structural response. Based on the mechanism of impact damping system, a semi-active impact damper (SAID) with controllable impact timing as well as a semi-active control strategy is proposed to enhance the seismic performance of engineering structures in this paper. Comparative experimental studies were conducted to investigate the damping performances of the passive impact damper and SAID. The extreme working conditions for SAID were also discussed and approaches to enhance the damping effect under high-intensity excitations were proposed. A numerical simulation model of SAID attached to a frame structure was established to further explore the damping mechanism. The experimental and numerical results show that the SAID has better control effect than the traditional passive impact damper and can effectively broaden the damping frequency band. The parametric studies illustrate the mass ratio and impact damping ratio of SAID can significantly influence the vibration control effect by affecting the impact force.

• International Journal of Highway Engineering
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• v.17 no.6
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• pp.65-73
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• 2015

PURPOSES : This study tries to develop the accident models of 4-legged signalized intersections in Busan Metropolitan city with random parameter in count model to understanding the factors mainly influencing on accident frequencies. METHODS : To develop the traffic accidents modeling, this study uses RP(random parameter) negative binomial model which enables to take account of heterogeneity in data. By using RP model, each intersection's specific geometry characteristics were considered. RESULTS : By comparing the both FP(fixed parameter) and RP modeling, it was confirmed the RP model has a little higher explanation power than the FP model. Out of 17 statistically significant variables, 4 variables including traffic volumes on minor roads, pedestrian crossing on major roads, and distance of pedestrian crossing on major/minor roads are derived as having random parameters. In addition, the marginal effect and elasticity of variables are analyzed to understand the variables'impact on the likelihood of accident occurrences. CONCLUSIONS : This study shows that the uses of RP is better fitted to the accident data since each observations'specific characteristics could be considered. Thus, the methods which could consider the heterogeneity of data is recommended to analyze the relationship between accidents and affecting factors(for example, traffic safety facilities or geometrics in signalized 4-legged intersections).

• Journal of the Korea Safety Management & Science
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• v.16 no.1
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• pp.169-176
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• 2014

This research discusses the characteristics and the implementation strategies for two types of quality metrics to analyze innovation effects in six sigma projects: fixed specification type and moving specification type. $Z_{st}$, $P_{pk}$ are quality metrics of fixed specification type that are influenced by predetermined specification. In contrast, the quality metrics of moving specification type such as Strictly Standardized Mean Difference(SSMD), Z-Score, F-Statistic and t-Statistic are independent from predetermined specification. $Z_{st}$ sigma level obtains defective rates of Parts Per Million(PPM) and Defects Per Million Opportunities(DPMO). However, the defective rates between different industrial sectors are incomparable due to their own technological inherence. In order to explore relative method to compare defective rates between different industrial sectors, the ratio of specification and natural tolerance called, $P_{pk}$, is used. The drawback of this $P_{pk}$ metric is that it is highly dependent on the specification. The metrics of F-Statistic and t-Statistic identify innovation effect by comparing before-and-after of accuracy and precision. These statistics are not affected by specification, but affected by type of statistical distribution models and sample size. Hence, statistical significance determined by above two statistics cannot give a same conclusion as practical significance. In conclusion, SSMD and Z-Score are the best quality metrics that are uninfluenced by fixed specification, theoretical distribution model and arbitrary sample size. Those metrics also identify the innovation effects for before-and-after of accuracy and precision. It is beneficial to use SSMD and Z-Score methods along with popular methods of $Z_{st}$ sigma level and $P_{pk}$ that are commonly employed in six sigma projects. The case studies from national six sigma contest from 2011 to 2012 are proposed and analyzed to provide the guidelines for the usage of quality metrics for quality practitioners.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2006.11a
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• pp.437-452
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• 2006

Previous research on two-sided markets has, for the most part, concentrated on indirect network externalities between buyers and sellers. This paper considers direct competition effect among sellers and among buyers as well as indirect network externalities. We develop an analytic model of C2C e-marketplaces and examine whether a monopolistic incumbent could successfully deter new entry into its market. We find that the effect of the number of sellers or buyers on the price of goods depends on whether sellers have decided to sell the goods using an auction or fixed pricing rule and on the characteristics of the goods. We argue that when the effect of the number of sellers on the price of goods is significantly larger than that of buyers, there is a high possibility of entry. In particular, we show that entry becomes more difficult to deter as fixed-price format is adopted more frequently or the proportion of collectables is relatively low.

• Asia-Pacific Journal of Business
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• v.12 no.3
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• pp.329-342
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• 2021

Purpose - The purpose of this study is to analyze the effect of investment by the National Pension Service, which has a high share as a single fund, on the dividend payout ratio. Design/methodology/approach - This study secured a share through DART of the Financial Supervisory Service and disclosure of the National Pension Service. We also used a fixed-effects model and 2SLS to analyze the data. Findings - First, it was found that there was a possibility of conflicting interests among shareholders concerning the company's dividend payment policy. Second, in the range of 3% to 4.9% of the National Pension Service shareholding, an additional increase in the holding ratio was found to have a positive (+) effect on the dividend rate. Third, after the introduction of the Stewardship Code, it was found that the increase in ownership of the fund had a positive (+) effect on the company's dividend payout ratio, regardless of the share ratio range. Moreover, the relationship between the fund ownership and the dividend payout ratio showed a clear positive relationship when free cash flow was high along investment opportunities were low. Research implications or Originality - First, This study included less than 5% of the share in the analysis. Second, We used the recent changes in fund shareholder activities. Third, We tested an instrumental variable to confirm the relationship between the National Pension Service share and the dividend ratio.

• Economic Analysis
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• v.27 no.3
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• pp.33-60
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• 2021

This study estimates the fiscal multiplier using Input-Output table panel data from year of 2010 to 2018. Considering the endogeneity of the government expenditure, this study uses the share of government expenditure by sector in the initial period as an instrument variable. The estimation from the panel fixed effect instrumental variables model shows that the estimate for the current period of government expenditure is 1.15~1.22 and the estimate for the cumulative multiplier is 1.23~1.32 depending on the method of controlling time trend. Since the general equilibrium effect absorbed by the time-fixed effect in the estimation equation, the estimated multiplier in this study may be different from the multiplier of the economy as a whole. The general equilibrium effect depends on the response of monetary policy, changes in tax policy, and interaction between sectors.

• The korean journal of orthodontics
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• v.53 no.6
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• pp.374-392
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• 2023

Objective: Assess and evaluate the different indicators of oral health-related quality of life (OHRQoL) among patients treated with clear aligners (CAs) versus those treated with conventional fixed orthodontics (FAs). Methods: An electronic search was performed on the database is Web of Science, Scopus, and Embase databases. Randomized and non-randomized control trials, cross-sectional, prospective cohort and retrospective trials were included. Quality was assessed with risk of bias tool and risk of bias in non-randomised studies. Meta-analyses were performed with random effects models, estimating the standardized and non-standardized mean differences, odds ratio and risk ratio as the measure of effect. The effect on time was determined using a meta-regression model. Results: Thirty one articles were included in the qualitative synthesis and 17 in the meta-analysis. CAs had a significantly lower negative impact on QoL, with an "important" effect size, while the influence of time was not significant. Periodontal indicators plaque index (PI), gingival index (GI), probing depth (PD), and bleeding on probing show significantly better values in patients treated with CAs, with moderate to large effect sizes. PI and GI have a significant tendency to improve over time. In microbiological indicators, CAs present a lower biofilm mass without differences in the percentage of patients with high counts of Streptococcus mutans and Lactobacilli bacteria. The risk of white spot lesion onset is ten times lower in carriers of CAs. Conclusions: Patients wearing CAs show better periodontal indicators, less risk of white spot development, less biofilm mass and a better QoL than patients with FAs.