• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.895-907
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• 2020

Information transparency ensures that market players all have the opportunity to access the same information to come up with their assessment of the banks' financial situation, performance and risks to reach effective investment decisions. This research is conducted to investigate the levels of impact of determinants on information transparency by examining the case studies of Vietnamese commercial banks. This study combines both qualitative and quantitative research methods, based on interviews of 32 specialists in banking, accounting and auditing fields, which were conducted to explore determinants influencing information transparency and to develop measurement scales. Then, a survey of 160 managers of commercial banks, audit firms, and accounting managers of firms who frequently had transactions with banks was carried out to investigate the statistical significance of these determinants. The results show that, out of seven determinants that have significant impacts on the banks' information transparency, commitment from banks' senior management regarding transparency in information disclosure has the highest impact, followed by state governance, auditing, information infrastructure, credit rating agencies, personnel and bank performance. Accordingly, we provide some recommendations for improving information transparency in the Vietnamese banking industry context as a case study and in emerging countries context in general.

• The Journal of Sustainable Design and Educational Environment Research
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• v.13 no.2
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• pp.35-43
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• 2014

Under the influence of birth control and rapid urbanization, China's rural school-age population is on a year-by-year decrease, which has led approximately 300 thousand middle and primary schools to idleness ever since 2000. A majority of these idle schools are located in rural areas, almost one half remaining idle due to vagueness in property right. The disposed schools are less efficient for not being combined with the real situation of rural areas. Based on the opportunity of coordinative development of urban-rural areas, this paper analyzes the situationsin terms of the development of public service facilities and the gap between rural and urban areas over the recent years. Then the effective and sustainable reuse scheme to dispose of the idle schools and reshape them into the facilities for the elders, cultural facilities and medical facilities is proposed from the perspectives of perfecting rural public service facilities and guaranteeing citizens' equal share of public service, which both maintains the public nature of the idle schools, reconciles the fuzzy property right, and boosts efficiency of reuse, saves resources, and reduces investment for perfecting rural public facilities.

• Journal of Distribution Research
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• v.7 no.2
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• pp.1-19
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• 2003

This study intends to explore the relationship between export motivating factors and export channel-structure. Two proactive motivating factors (market-opportunity development and productivity improvement) and one reactive motivating factor (business-risk hedge) were extracted from the survey data collected from Korean exporting firms. The data show that the two proactive motives enhance the likelihood of using the export channels that allow strong controls over export-marketing activities. This study also finds that these proactive motives tend to increase the amount of relationship investment in an export distribution channel.

• ETRI Journal
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• v.31 no.1
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• pp.51-61
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• 2009

We present a unified explanation of the internationalization strategies of major mobile network operators (MNOs). We have developed a framework that analyzes the strategies of major international MNOs in terms of the relationship between their degree of involvement in international business operations and the degree of equity participation. The results show a positive association between these two dimensions as expected, but they also reveal some exceptional cases in which certain MNOs are actively involved in the business operations of other foreign MNOs, even with minor (or zero) equity investments. In this paper, we argue that the strategic actions of the major MNOs which are the largest shareholders of foreign MNOs are in an equilibrium status because these major MNOs derive maximum benefit from full or considerable management control and active involvement. Finally, we predict that latecomers (MNOs who are just about to enter foreign telecommunications markets) may adopt an incremental investment approach because most developed markets and deregulated emerging markets with growth potential are already preempted by major MNOs. Therefore, the window of opportunity for internationalization in those markets is currently small.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.27-34
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• 2020

The study investigates herding behavior in cryptocurrencies in different situations. This study employs daily returns of major cryptocurrencies listed in CCI30 index and sub-major cryptocurrencies and major stock returns listed in Dow-Jones Industrial Average Index, from 2015 to 2018. Quantile regression method is employed to test the herding effect in market asymmetries, inter-dependency and intra-dependency cases. Findings confirm the presence of herding in cryptocurrency in upper quantiles in bullish and high volatility periods because of overexcitement among investors, which lead to high volume trading. Major cryptocurrencies cause herding in sub-major cryptocurrencies, but it is a unidirectional relation. However, no intra-dependency effect among cryptocurrencies and equity market is observed. Results indicate that in the CKK model herding exists at upper quantile in market that may be due when the market is moving fast, continuously trading, and bullish trend are prevailing. Further analysis confirms this narrative as, at upper quantile, the beta of bullish regime is negative and significant, meaning the main source of market herding is a bullish trend in investment, which increases market turbulence and gives investors opportunity to herd. Also, we found that herding in cryptocurrencies exits in high volatility periods, but this herding mostly depends on market activity, not market movement.

• Korean System Dynamics Review
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• v.3 no.1
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• pp.43-60
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• 2002

This paper describes the forecast of wholesale price in competitive Korean electricity market using the system dynamics approach. The system dynamics concepts have been implemented with the Ithink software. This software facilitates the development of stock and flow model with information feedback. Using this model, the future wholesale electricity price can be computed hour by hour, quarterly, and yearly. This model also gives the energy planner the opportunity to create different scenarios for the future of deregulated wholesale markets in Korea. Also It will lead to increased understanding of competitive wholesale market as a complex, dynamic system. Research results show that the plant construction appeared in waves of boom and bust in Korean electricity market like real estate construction. That is, the Korea wholesale market's new power plants and the market price will appear the Boom and Bust cycle. It is very similar behavior as real estate industry. In case of consideration of DSM program, The DSM savings lead to a somewhat different timing of the booms in construction and of price spikes. But the DSM programs do not eliminated the fundamental dynamics of the boom and bust. And the wholesale price is maintained at the lower level compared to the case of without DSM program. However, the unexpected result is found that due to the lower market price, Investor make significantly less investment in new CCs, which leads to the higher wholesale price after 2010. It suggests that the DSM Policy must be implemented with the dynamics of competitive Electricity Market.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.803-810
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• 2020

This objective of this study is to enrich the literature by the debt ratio and enterprise performance of Joint stock companies of Vietnam National Coal and Mineral Industries Holding Corporation Limited (Vinacomin). The debt ratio is an important index of capital structure, and it influences and decides the enterprise performance. Therefore, the determination of reasonable debt ratio level is beneficial to the stable operation of Vinacomin's enterprises. Based on the research conclusion about the effect on capital structure of debt ratio from domestic and foreign scholar, collecting data from 2014-2018 of Vinacomin's enterprises as a research sample, the article conducts research on the relationship between debt ratio and business performance of Vinacomin, as measured by return on total Assets. In addition, the study uses free cash flow, company size, growth opportunity, investment opportunities, operating costs to sales ratio as control variables.The study shows the debt ratio of Joint stock companies of Vietnam National Coal and Mineral Industries Holding Corporation Limited has a negative effect on the enterprise performance. Furthermore, the research results of the article are references for Vinacomin' enterprises in the course of production and business activities, determining a reasonable debt ratio, and improving the operational performance of enterprises.

• Journal of the Society of Cosmetic Scientists of Korea
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• v.29 no.1
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• pp.103-122
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• 2003

Recently, many graduate schools related to Cosmetic & Beauty have established, and it is very advisable. However, the following the curriculum or the teaching staff has to be made up well for making a substantial graduate school, and it will contribute largely toward to Cosmetic & Beauty industry. If it is used like a tool for only increasing the quorum of student, it is not a help to Cosmetic & Beauty industry even though many Cosmetic & Beauty courses in the graduate schools are established. The government and the industrial circles have to give thought and support to develop a university. Then special workers who train in this part will be a help to grow Cosmetic & Beauty industry. Hereafter, Cosmetic & Beauty industry is a big field of industry after medical supplies in the fine chemistry industry when we take the scale of industry and the national competitiveness into consideration. And Cosmetic & Beauty industry is a competitive field of industry with a small investment contrary to medical supplies. However, there are few educational institutions for special workers through the college of pharmacy in Cosmetic & Beauty contrary to medical supplies. Also, there is no position for managing the growth of Cosmetic & Beauty industry in the government agencies. At this point of time, it is very desirable situation that the graduate school related to Cosmetic & Beauty is established lately, and we hope that it is an opportunity for the growth of Cosmetic & Beauty industry through the interests of the university, the government, the industrial circles, and so on.

• Korean System Dynamics Review
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• v.6 no.1
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• pp.99-123
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• 2005

Although the generation market is competitive, the power market is easily exercised the market power by one generator due to its special futures such as a limited supplier, large investment cost, transmission constraints and loss. Specially, as Korea Electric industry restructuring is similar US competitive wholesale electricity market structure which discovered the several evidences of market power abuse, when restructuring is completed the possibility that market power will be exercised is big. Market power interferes with market competitions and efficiency of system. The goal of this study is to investigate the market price effects of the potential market power and the proposed market power mitigation strategy in Korean market using the forecasting wholesale electricity market model. This modeling is developed based on the system dynamics approach. it can analyze the dynamic behaviors of wholesale prices in Korean market. And then it is expanded to include the effect of market condition changed by 'strategic behavior' and 'real time pricing.' This model can generate the overall insights regarding the dynamic impact of output withholding by old gas fire power plant bon as a marginal plant in Korean market at the macro level. Also it will give the energy planner the opportunity to create different scenarios for the future for deregulated wholesales market in Korea.

• Industrial Engineering and Management Systems
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• v.13 no.2
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• pp.172-184
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• 2014

Economic growth with rising household income has put more vehicles on the roads worsening traffic congestion, road accidents, and air and noise pollution. This situation is further aggravated by the potential working population who choose to drive to work instead of taking public transportation. Public bus transport (PBT) plays an important role in alleviating these problems. PBT is underutilized in Malaysia, and there is an opportunity to increase ridership without substantial investment. Therefore, this study was conducted to investigate the factors that influence the use of PBT in Malaysia. The data were collected using structured questionnaires from 400 respondents. The results of the analysis show that the twin factors consisting of perceived satisfaction of and perceived importance by users towards safety and comfort of facilities and services offered by PBT are significantly related to intention to use those services. The satisfaction of availability of season tickets, the importance of reliability of bus schedule and time table, and the importance of ticket pricing are also significant. By providing insights for both public bus operators and the government, this paper contributes to mitigate the underutilization of PBT in Malaysia and the consequences of putting more vehicles on the roads. From the theory perspective, this paper also contributes by extending the theory of reasoned-action to transportation studies.