• The Journal of Industrial Distribution & Business
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• v.12 no.8
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• pp.41-52
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• 2021

Purpose: The study aims to analyze effects of wage on FDI inflows based on the threshold of institutional quality in 14 developing economies of Southeast and South Asia over the period from 2000-2017. Research design, data, and methodology: The study applies a fixed effect panel threshold regression. As a proxy for the institutional quality, it uses the six components of Worldwide Governance Indicators or a compound index obtained by an average of the six components. The data were taken from World Bank, the Chinn & Ito Database, and UNCTAD. To the best of our knowledge, no researches so far have considered the threshold of institutional quality in estimating the effect of wage on FDI inflows. Results: The composite index and each component of the six indicators of institutional quality except for voice and accountability, and regulatory quality are found to have nonlinear effects on FDI inflows. When the institutional quality is below the threshold, wage affects FDI inflows negatively. When the institutional quality is above the threshold, however, wage does not significantly affect FDI inflows. Conclusions: The effect of wage on FDI inflows varies depending on whether the institutional quality of the target countries is above or below the threshold.

• SUVANNABHUMI
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• v.15 no.2
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• pp.215-244
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• 2023

This study analyzes the effect of macroeconomic indicators such as foreign direct investment (FDI), domestic investment, trade, inflation, unemployment, population, and governance indicators on economic growth and points out the GDP growth rate in 2002- 2019 among ASEAN countries. Data were compiled from the Worldwide Governance Indicators (WGI) and the World Bank, and the effect of variables on GDP was predicted using the pooled ordinary least squares (POLS), fixed effects model (FEM), and random effects model (REM) methods. As a measure of growth, the GDP growth rate has been taken; FDI and domestic investment, trade, inflation, and governance indicators are positively connected and have an influence on economic growth in these ASEAN countries; domestic investment, population, and unemployment have a negative relationship to economic growth. The macroeconomic indicators and institutional stability of the nation have an effect on its economic growth. Comprehensive institutional stability and well-laid macroeconomic policies are required for growth to materialize.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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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.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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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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• 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.

• The Korean Journal of Archival Studies
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• no.48
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• pp.180-208
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• 2016

Since the introduction of the Archives Evaluation System in 2008, the Republic of Korea's archives management has undergone many changes and great development. However, there remain process problems in several operations of concerned agencies. These are made up of problems in the system itself (operation-related problem), problems in evaluation indicators, and issues in communication issue between the rating agency and the national archives of the rated institutions. This study was a theorem for such status of the concept, objectives, and the indicators of the institutional evaluation system as it looked into the problems and sought improvement of the systems and indicators. The problems of the evaluation system were felt in the survey of the education field, which was conducted through interviews and phone interviews with the Office of Education's archives managers and researchers. Among the problems found were the assessment period, the number of indicators, evaluation process, the assessment indicators, and the best practices. Moreover, this study summarized the comments of the archives managers on what they believed are needed to improve the field. As a result, it confirmed that structural and fundamental changes in the institutional evaluation system are needed. Based on these findings, this study hopes that an archives management business for the public institutions of the Republic of Korea would be developed in the future.

• The Journal of Industrial Distribution & Business
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• v.12 no.10
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• pp.31-41
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• 2021

Purpose: This study estimates the threshold values of institutional quality through investigating the non-linear effect of six sub-indices of Worldwide Governance Indicators on FDI inflows in 34 developing countries in Asia and Eastern Europe over the period from 2000-2017. Research Design, data and methodology: GMM EGLS is employed which does not include the lagged value of the dependent variable as an independent variable. As a proxy for the institutional quality, either one of the six sub-indices of WGI from World Bank or the composite index obtained through a principal component analysis is used in a separate model. Results: An improvement in institutional quality, when the quality stays below a certain threshold level, does not increase FDI inflows, and only when the quality is above the threshold, it can positively influence FDI inflows. The threshold values of political stability and absence of violence, government effectiveness, and rule of law are relatively higher than those of the other dimensions of WGI. Conclusion: Institutional quality of the developing economies of Asia and Eastern Europe has a non-linear effect on FDI inflows. The target countries need to upgrade their institutional quality above the threshold in order to attract more FDIs.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.21-32
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• 2021

This paper aims to investigate the relationship between country-level institutional quality and public debt in the context of Pakistan. The hypotheses of this study were assessed by using the country-level institutional quality data for Pakistan throughout the years from 1996 to 2018. Data came from the World Databank, IMF and Worldwide Governance Indicators databases. For the analysis, ordinary least square, quantile regression and robust regression were employed to assess the factors influencing the public debt. The results of this study indicate that the factors of voice and accountability, regulatory quality, and control of corruption have a positive and significant relationship with public debt, while political stability, government effectiveness, and the rule of law have a negative and significant effect on public debt. Based on the findings, a weak country-level institutional quality poses a substantial market risk as it signals the existence of an unfavorable economic condition that raises public debt. It was also revealed that an improved performance of country-level institutional quality can lead to the improvement of financial market transparency, hence reduce public debt. In contrast to previous studies, the present study will be breaking ground in enhancing public insight regarding the impact of country-level institutional quality on Pakistan's public debt.

• Journal of Korean Society for Quality Management
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• v.47 no.4
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• pp.767-781
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• 2019

Purpose: The purpose of this study is to derive key evaluation indicators to improve the quality of daycare centers by identifying the relationships among the 18 evaluation indicators of the daycare evaluation system using the DEMATEL technique. Methods: In this study, the questionnaires are completed by 17 daycare center directors who have received accreditation of daycare center. They are requested to consider the level of direct influence between two evaluation indicators. A DEMATEL analysis was conducted based on the survey results. Results: The result of the study shows that the most important indicators of daycare center quality are directors leadership, institutional operations and professionalism of staff. Among evaluation areas, educational childcare curriculum & interactions is affected by all areas, and staff area affect all areas. Conclusion: The evaluation areas and indicators of the daycare center are judged to be well-balanced. It is expected that the findings of the key evaluation indicators that should be prioritized among the evaluation indicators will be helpful to those preparing for the evaluation of the daycare center.

• Journal of Nutrition and Health
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• v.44 no.1
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• pp.49-60
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• 2011

This study was performed to develop a children's dietary life safety index required by the Special Act on Safety Management of Children's Dietary Life enacted in 2009. An analytical hierarchy process was used to obtain initial weights of dietary life safety evaluation indicators. The Delphi method was applied to develop the weights along with 98 food and nutrition professionals. Three representative policy indicators, nine strategy indicators, 11 main evaluation indicators, and 20 detailed evaluation indicators were selected for the children's dietary life safety assessment. Three policy indicators and nine strategy indicators were the following: children's food safety indicator (support level of children' safety, safety management level of children's favorite foods, and safety management level of institutional food service), children's nutrition safety indicator (management level of missing meals and obesity, nutrition management level of children's favorite foods, and nutrition management level of institutional food service), and children's perception and practice level indicator ("Dietary Life Law" perception level, perception, and practice level for dietary life safety management, perception, and practice level for nutrition management). Weights of 40%, 40%, and 20% were given for the three representative policy indicators. The relative importance of nine strategic indicators, which were determined by the Delphi method is as follows: For children’s food safety, support level of children's safety, safety management level of children's favorite foods, and safety management level of institutional food service were given weights of 12%, 9%, and 19%, respectively. For children's nutrition safety, the missing meals and obesity management level, nutrition management level of children's favorite foods, and the nutrition management level of institutional food service were given weights of 13%, 11%, and 16%, respectively. The "Dietary Life Law" perception level, perception and practice level of dietary life safety management, and perception and practice level of nutrition management were given weights of 4%, 7%, and 9%, respectively.