• 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.1
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• pp.327-333
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• 2021

Accounting information disclosure by enterprises is important for third-party entities (suppliers, creditors, banks, regulators, etc.). Voluntary accounting information disclosure (VAID) refers to additional information related to business activities shown on the annual report above and beyond the required information about business results and financial position as well as cash flow. This supports the stakeholders gaining useful information to make proper business decisions. The article examines the influence of ownership structure on the voluntary accounting information disclosure of the top 100 Vietnamese listed companies (VN100). Data collected by authors on regular annual reports totaled 425 observations from 2015 to 2019. The article uses OLS to test multivariate regression models with time-series data. The research results show that there are three variables affecting voluntary accounting information disclosure, of which foreign ownership and institution ownership have a positive impact, while concentration ownership has an opposite impact. Accordingly, the managers of VN100 should raise awareness in order to demonstrate the obligation of information providers to users to ensure clarity and completeness. The state agencies should encourage VN100 to enhance voluntary accounting information disclosure. This contributes to improve the information level of Vietnamese listed companies to embrace the trend of international economic integration.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.517-525
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• 2021

The study investigates the behavior of Asian banks in response to the subprime mortgage crisis and examines how countries that have experimented with a mix of conventional and Islamic banking managed their balance sheet during that period. The study carries out an independent mean t-test comparing the difference of leverage of 464 conventional commercial Asian banks pre- and post-crisis from the largest twenty-five Asian economies based on GDP (2007). The analysis uses 10-year unbalanced panel data of conventional banks and employs the generalized least squares estimation using a dummy variable event window method to capture the response of Asian banks. The study finds evidence of a structural change in the capital structure of Asian commercial banks in response to the financial crisis. Findings suggest that conventional banks increased their capital position more in countries that have both Islamic and conventional banking than those countries without Islamic banking services. By having Islamic banking in their product portfolio, countries can exert market discipline on conventional banks. The study identifies a significant role of global macroeconomic shocks on banks liability structure decision-making. Evidence shows that this increase in capital positioning by banks was a permanent rather than a temporary response.

• The Journal of Asian Finance, Economics and Business
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• v.10 no.2
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• pp.163-174
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• 2023

This study aims to investigate the effect of the composition of the board and ownership structure on a firm's value in Jordanian firms. Specifically, it aims to determine the effect of board size, (CEO) duality, and family, foreign, institutional, and government ownership on a firm's value. An ordinary least square regression (OLS) was employed to examine the study hypotheses in a sample of 35 Jordanian industrial firms (175 firm-year observation) for a period of five years from 2016-2020. As measured by Tobin's Q (Q ratio) and market-to-book (MB ratio) for Jordanian industrial firms listed on Amman Stock Exchange (ASE). The result found that foreign ownership, institutional ownership, and family ownership have a significant and positive effect on firm value. By contrast, government ownership does not have a significant effect on firm value. With respect to board composition (CEO duality and board size), the study results found no evidence to support the effect of board composition on firm value. The study recommended the concerned authorities with several recommendations, most notably: taking the necessary measures to ensure the continuity and growth of family businesses because of their positive impact on the value of the company and economic growth, spreading awareness about how governance protects the interests of investors.

• Journal of Distribution Science
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• v.17 no.3
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• pp.85-95
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• 2019

Purpose - The existing marketing studies using Social Network Analysis have assumed that network structure variables are time-invariant. However, a node's network position can fluctuate considerably over time and the node's network structure can be changed dynamically. Hence, if such a dynamic structural network characteristics are not specified for virtual goods purchase model, estimated parameters can be biased. In this paper, by comparing a time-invariant network structure specification model(base model) and time-varying network specification model(proposed model), the authors intend to prove whether the proposed model is superior to the base model. In addition, the authors also intend to investigate whether coefficients of network structure variables are random over time. Research design, data, and methodology - The data of this study are obtained from a Korean social network provider. The authors construct a monthly panel data by calculating the raw data. To fit the panel data, the authors derive random effects panel tobit model and multi-level mixed effects model. Results - First, the proposed model is better than that of the base model in terms of performance. Second, except for constraint, multi-level mixed effects models with random coefficient of every network structure variable(in-degree, out-degree, in-closeness centrality, out-closeness centrality, clustering coefficient) perform better than not random coefficient specification model. Conclusion - The size and importance of virtual goods market has been dramatically increasing. Notwithstanding such a strategic importance of virtual goods, there is little research on social influential factors which impact the intention of virtual good purchase. Even studies which investigated social influence factors have assumed that social network structure variables are time-invariant. However, the authors show that network structure variables are time-variant and coefficients of network structure variables are random over time. Thus, virtual goods purchase model with dynamic network structure variables performs better than that with static network structure model. Hence, if marketing practitioners intend to use social influences to sell virtual goods in social media, they had better consider time-varying social influences of network members. In addition, this study can be also differentiated from other related researches using survey data in that this study deals with actual field data.

• Journal of Venture Innovation
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• v.4 no.1
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• pp.101-118
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• 2021

Along with the rapid supply of apartments, bathtubs are becoming a must-have item for our lives, but research is very insufficient. This study is an empirical case study for formalization of taciturn as a long-time worker in the bathtub field. Bathtubs are developing different types of materials due to various factors, and we would like to draw characteristics based on their contents. The bathtub is characterized by its materials according to its manufacturing, housing structure and distribution process. First, it is a locally produced product because import and export is difficult. The second depends on the building soccer team, such as wet and dry. Third, it is different in relation to industries such as manufacturing and distribution. I would like to suggest the differences between the fourth countries. We hope this research will serve as a cornerstone for the study of bathtubs, and we hope it will be useful for those involved.

• Natural Product Sciences
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• v.4 no.1
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• pp.15-22
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• 1998

'Banafsha' is an important herbal drug of indigenous systems of medicine. Flowers of Viola odornta L. (Violaceae) are considered to constitute the genuine drug 'Banafsha'. However, due to limited distribution of this plant, another species of Viola, i.e. V. pilosa having almost similar medicinal properties, is mostly used under this vernacular instead. Ethnobotanically also different species of Viola i.e. V. odorata, V. pilosa and V. betonicifolia are used for various ailments at different places in our country. In the present study two species of Viola, namely V. pilosa and V. betonictfolia along with the commercial samples of 'Banafsha' were studied and authenticated. It was observed that the market samples procured from Dehradun, Mumbai, Lucknow, Palampur, Ramnagar and Ranikhet showed close resemblance with Viola pilosa in having similar morphological characters like uniseriate hairs on the ovary, geniculate and clavate style, truncate stigma and almost similar TLC profiles. On the other hand the Almora sample was identified as Viola betonicifolia by the presence of large purple flowers, clavate style and convex stigma forming hump like structure. However, the market sample procured from Pathankot was found to be a mixture of two species of Viola namely, V pilosa and V. odorata having dominance of the former species.

• The Journal of Information Technology
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• v.2 no.2
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• pp.23-34
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• 1999

The computer industry has come to the generation of personal computer. The organization of the existing industry has the distinct boundary among companies in vertically integrated companies, produce whole assembled system, and compete in the part of hardware, operating system, and its related software based on theirselves design. Then according to keep the distinct monopolized architecture of industry, the enterprises only centralized on developing the monopolistic market and sharing the static market rather than competition and compatibility with other system. The horizontal distribution in small part industry is occurring, by the times of personal computer, and the companies of personal computer have coming into free competition with parts standardization and the open architecture of system. This paper suggests a reasonable model of industry under horizontal structure with analyzing the above phenomenon.

• The Journal of the Korea Contents Association
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• v.13 no.2
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• pp.71-80
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• 2013

This study addressed status of PP(Program Provider) market, particularly focusing on independent PP. This research selected 14 independent channels and did in depth interviews for them. This study analyzed 14 channels in terms of management, production, and contents. The result showed that independent channels were in inferior condition than MPP(multiple PP) on all the aspects of management, production and content. The management structure of the PP were very vulnerable, production environment was not good. The PP were placed in a difficult environment in terms of production and purchases of content, therefore focused on distribution rather than production. This unbalance on the PP market resulted in negative effect on Korea's contents industry as well as PP industry. Therefore, this study suggested policy and regulatory reforms are needed to improve inferior status of independent PP.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.2
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• pp.25-32
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• 2019

In the Korean capital market, there are three credit rating agencies. Potential credit ratings based on credibility in the financial market are calculated independently for each rating agency. It often happens that despite the fact that the grades of the rating agencies are the same and have the same rating system, their actual ratings are different, even for the same firm. In such circumstances, investors may wonder why. In this study, we assume that the cause is the information environment in which the company operates. The credit ratings of rating agencies are mainly classified into bonds or commercial papers. The bonds are rated primarily for long-term of three years or more, and commercial papers specify ratings for less than one year. The information environment to be verified in this study was observed with a commercial paper. Under the assumption the larger the analyst following is, the more transparent is the information environment, we analyzed the influence of the number of analysts following on the degree to which ratings conflicted among credit rating agencies. The results of our analysis confirmed that opinion conflict among credit rating agencies is clearly reduced for companies with good information environments.