• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.11-19
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• 2021

The paper examines the nexus between economic globalization, financial development and institutional reform in India and Sri Lanka during the period 1990-2017. Using the panel ARDL method, the study finds the long-run relationship between financial development, economic globalization, and institutional reforms. From the short-run equation, the study finds the negative and statistically significant impact of economic globalization on financial development in India whereas Sri Lanka has a positive impact of institutional quality on financial development. Then, the study finds no short-run causality between financial development, economic globalization and institutional reforms. However, the study finds bi-direction strong causality between economic globalization and financial development. Further, the study finds uni-directional strong causality from institutional quality to financial development and economic globalization. Moreover, there is an existence of long-run causality between financial development, economic globalization and institutional quality. For the robustness of the results, the study considers the financial market as a proxy for financial development. Then, the study applies the panel ARDL test and find the consistency in the results. The policymakers in India and Sri Lanka should focus on institutional reforms so that it can reap the benefit of economic globalization. In turn, the quality of institutional reforms can thereby lead to financial development.

• Journal of Korea Trade
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• 제24권4호
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• pp.71-94
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• 2020

Purpose - Multi-National Enterprises (MNEs) tend to face a high level of institutional pressures in regions with high institutional development level. When complying with institutional pressures, firms try to make decisions to maximize profit while minimizing the risks to them. The purpose of this study is to investigate the influence of the institutional development level on institutional compliance timing by MNEs and the relationship between compliance speed and corporate performance. Design/methodology - The research focuses on three main variables, which are the institutional development level (as a determination of the institutional pressure level), the firm's compliance speed (as a determination of the compliance timing), and the firm's financial performance (as a determination of the corporate performance). We collected 19,869 firm-level data from CSMAR (the China Stock Market and Accounting Research), 6,922 CSR data from RKS (the Rankins CSR Ratings), and province and city-level data from the NERIM (National Economic Research Institute Index of Marketization) and NBSC (National Bureau of Statistics of China). The firms in China were chosen for analysis, and the analysis period was from 2008 to 2017. Random Effects GLS Regression was used to test the relationships among the variables. Findings - This study examined the effect of the institutional development level on the firm's compliance speed, together with the effect of compliance speed on the firm's financial performance of the MNEs in China. We found that the institutional development level positively influenced firms' financial performances, which means the firms' financial performances are better in the region with a high institutional development level. The compliance speed of institutional practice by firms was faster in the higher level of institutional development. However, the firm's delayed compliance led to better financial performance. Originality/value - Studies in the resource dependence view of Institutional Theory often fall short in understanding the theory by overlooking the firm's active decision-making. Thus, the findings do not present a full scope of corporate performance in this regard. This study not only found a way to test the role of a firm's independent decision-making (i.e., compliance timing) when facing the institutional pressure but also prove the significant role of the compliance timing on corporate performance. Also, we were able to test the effect of institutional development level, controlling location-specific variables because we used CSR performance data for MNEs operating in China. Lastly, by doing the above, the findings of this study suggest practical implications to the industry practitioners in MNEs.

• 대한가정학회지
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• 제41권4호
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• pp.143-155
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• 2003

This study presents the institutional households as an object of research from german society, discussing their social necessity and development scheme. The results of the study will be useful informations for systematic researchs according to institutional household in South Korea. In recent years, the social functions of the institutional household have become an important issue in South Korea. In this respect, the requirements of customers, and other interested parties with regard to these institutions have changed, which results in a different general framework for the management of these institutions. For this reason, courses in the Economics of the Institutional Household were established as part of the Department of Private Household at some universities in South Korea. In order to assure the continuous development of the research on Economics of Institutional Household theoretical and practical support from different arise is required. In particular, three issues aries here: 1. the structure of the curriculum and the possibilities for its development in universities, 2. interdisciplinary research on the Economics of the Institutional Households in cooperation with other departments, 3. continuing cooperation between institutions and universities.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.201-211
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• 2021

This study aims to analyze the determinants of macroeconomic and institutional stability on the development of the global sukuk market by controlling the effects of population. This study uses panel data namely GDP per-capita, exchange rate, and inflation as the proxies for macroeconomic stability sourced from the World Development Index, and six dimensions of Worldwide Governance Indicators (WGI) as institutional proxies sourced from WGI-World Bank. To make robust the relationship between macroeconomics and institutional on the global sukuk market, the population (POP) variable was included as a control variable. The development of sukuk uses a proxy for sukuk issuance in the International Islamic Financial Market, for the annual period from 2002-2017. The data was analyzed using the General Method of Moment, and the results show that by controlling the population effects that proved to be significant, GDP per-capita and the rule of law have a significant impact on the development of sukuk, especially when incorporating population effects as control variables, whereby further ascertaining the effect of each macroeconomic-stability variable and institutional stability on sukuk development, especially inflation, found not to affect sukuk development. These results also confirm the previous findings, whereby inflation remains controllable at a certain level for economic development.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.77-88
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• 2021

The stock markets in the BRICS (Brazil, Russia, India, China and South Africa) countries are the leading emerging markets globally. Therefore, it is pertinent to ascertain the critical drivers of stock market development in these economies. The currrent study empirically investigates to identify the linkages between stock market development, key macro-economic factors and institutional factors in the BRICS economies. The study covers the time period from 2000 to 2017. The dependent variable is the country's stock market development and the independent variables consist of six macroeconomic variables and five institutional variables. The study employs a panel cointegration test, Fully Modified OLS (FMOLS), a Pooled Mean Group (PMG) approach and a heterogeneous panel non-causality test.The findings of the study indicate co-integration among the selected variables across the BRICS stock markets. Long-run estimations reveal that five macroeconomic variables and four variables related to institutional quality are positive and statistically significant. Further, short-run causalities between stock market capitalization and selected variables are detected through the test of non-causality in a heterogeneous panel setting. The findings suggest that policymakers in the BRICS countries should enhance robust macroeconomic conditions to support their financial markets and should strengthen the institutional quality drivers to stimulate the pace of stock market development in their countries.

• 지역연구
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• 제10권1호
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• pp.71-88
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• 1994

In Korea large scale land development projects have been initiated, in general, by public sector. Due to the on-going liberalization and deregulation trends, however, the need for the land development by private enterprizes is growing very fast. Nontheless, the present situation including institutional setting is not favorable enough for the private participation. The purpose of this study is to provide necessary strategies for vitalizing private participation in the land development. The main contents of this study are devided into four parts. First, the background logic of the private participation in land development is investigated theoretically through reference review. Second, the present situation especially in terms of institutional aspects in analysed and criticized. Third, similar experiences of foreign countries, such as Japan, Germany, France, England, are reviewed in short. Finally, some measures and strategies for improving the present institutional settings are provided and recommended. These include the simplification of the complicated planning system, alleviation of the restraints against private land development, diversification of land development methods and etc.

• 한국경제지리학회지
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• 제19권2호
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• pp.313-329
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• 2016

본 연구에서 우간다는 농업 현대화를 달성하기 위한 적절한 제도적 틀이 부족한 것을 알 수 있다. Constellation Model을 기반으로 본 논문에서는 다양한 이해 관계자에 의한 지배 구조와 행동의 다양한 수준에서 정책과 제도적 협력을 통해 농업 발전을 촉진하는 효과적인 방법을 제안한다. 먼저 이론적 관점에서 Abim 지역에서 농업발전이 가진 의미를 고찰하고, 이 지역 농업발전과 관련된 현행 제도적 장치와 협력 관계를 평가한 뒤, Abim 및 북부 우간다 지역의 농업 및 사회경제적 문제를 해결하기 위한 효과적인 제도적 협력 구조를 탐구한다. 본 논문에서의 중요한 결론은 제도적인 문제들이 우간다에 농업발전에 중요한 역할을 하며 제도적 격차, 관료적 행태 등이 농업 현대화를 저해하는 요인이라는 것을 밝혀냈다. 따라서, Abim지역의 주요한 개발파트너들과 지속 가능한 협력을 통해 상호 연계를 강화할 것을 제안한다.

• International Journal of Knowledge Content Development & Technology
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• 제14권1호
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• pp.53-73
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• 2024

The purpose of the study is to investigate the development of institutional repositories in university libraries in Nigeria. The study adopted a survey research design. Online questionnaire, IRs investigation, and interview methods were used to collect data from the 21 university libraries that have developed IRs in Nigeria. The study revealed that only few universities have successfully developed open access IRs to preserve and manage their intellectual outputs emanating from their universities. Contents such as journal articles, theses/dissertations, and conference / workshop papers were found to be the most popular contents that are hosted in the IRs. The interview revealed that although few respondents mentioned having IR policy statements in areas such as access policy, submission policy, preservation policy, content policy and copyright policy, the majority mentioned not having any defined policy in their IR. Also in the interview, inadequate fund, challenge of collecting contents for the IR, shortage of skilled ICT personnel, and inadequate facilities were the most mentioned challenges encountered in the development of IRs in Nigeria. Findings from this study will inform University Librarians, university management and policy makers on the need to provide the necessary infrastructure and formulate policies for smooth development of institutional repositories to make research visible globally. The results will therefore provide important data and insight into the development of institutional repositories in university libraries in the context of developing countries.

• 대한가정학회지
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• 제36권6호
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• pp.109-122
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• 1998

This is succeeding Study of 'A Study on the Basic Framework and Program Development for Establishment of Institutional Household Manager System -Focused on the Curriculum'. This study focused on the needs analysis of manager and user of institutional household. Data were collected by individual interview, from 47 managers and 84 users of institutional household in Seoul, Pusan & Kyungnam, Taegu & Kyungbuk province. The results were as follows; there were differences in the demands of manager and user of institutional household management, manager's needs of Institutional Household Manager lower than user, the manager of Domitory. Training Institute showed higher than Nursery School and Public Welfare Facilities.

• 한국경제지리학회지
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• 제22권1호
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• pp.52-69
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• 2019

이 논문의 목적은 충청남도 사회적경제의 발전과 그 과정에서 나타난 제도적 동형화의 실제를 고찰하는 데 있다. 충청남도의 사회적경제 기업은 급격한 양적 성장을 이루었으나, 공공주도의 정책 추진과 제도적 틀로 인해 제도적 동형화 현상이 심화되고 있다. 제도적 동형화란 조직이 제도적 환경에서 요구하는 규범이나 틀을 수용하는 과정에서 모든 조직의 형태나 활동이 유사해지는 현상을 말한다. 이러한 동형화 현상은 사회적경제 기업의 사회적가치 지향성과 혁신성을 저해하고 있다. 이에 실제 사례를 분석한 결과 사회적가치 지향성을 유지 강화시킬 수 있는 지역생태계가 구축되지 않을 경우 제도적 동형화가 더욱 심화되고 있었다. 사회적가치 창출은 제도를 충족하는 수준에 그치고 있으며, 가치 지향성도 약화되는 것으로 나타났다.