• The Journal of Industrial Distribution & Business
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• v.8 no.5
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• pp.7-13
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• 2017

Purpose - The purpose of this paper is to analyze the relationship between the real exchange rate and the output, which is based on the macroeconomic equilibrium theory in China. Its aim will be to verify whether the change in the real exchange rate has a significant effect on the output or not. Research design, data, and methodology - This study endeavors tries to investigate the correlation among economic variables under the macroeconomic market (the commodity market and the money market) equilibrium. So, time-series data from 1990 to 2016 is applied to establish a vector auto-regression (VAR) model so as to perform an empirical analysis. Results - The empirical results reveal that an increase in the real exchange rate will result in an increase in the output in the short run. However, the empirical results also indicate that this kind of mechanism cannot work in the long run. Conclusions - The effect of a decrease of real exchange rate on output is significant in the short run. Also, this paper suggests that the total supply and the total demand can promote economic growth. The fiscal and money policy play a significant role in economic growth in China as well.

• Journal of Distribution Science
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• v.16 no.6
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• pp.65-75
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• 2018

Purpose - The exhibition is one of the critical distribution channels that leads to mass sales of products. Servicescape is considered as an effective means facilitating consumers' purchasing behavior. The objective of this research is to examine the effects of servicescape of the exhibition on consumer's purchasing behavior measured by time spent, the number of consultations, the number of items purchased, and amount of money spent. Research design, data, and methodology - Servicescape was divided into four main components: 'spatial layout/functionality', 'ambient condition', 'design/artifacts', and 'human factor'. Based on previous studies, this study hypothesized that servicescape dimensions first influence consumer's shopping duration and the number of consultations which in turn, affects consumer's actual purchase. A total of 407 samples were collected from attendees in Baby Expo taken place in Kyunggido, South Korea. The data were used to assess overall fit of the proposed model and test hypotheses using structural equation modeling. All the constructs had acceptable levels of composite reliability and convergent and discriminant validity. Results - The results showed that except for 'spatial layout/functionality', all components of servicescape had a significant influence on consumer's shopping duration in the exhibition. Except for 'design/artifacts', other factors of servicescape did not show a significant effect on 'the number of consultations'. Interestingly, 'design/artifacts' exerted a significant negative effect on 'the number of consultations'. As expected, 'time spent' and 'number of consultations' showed significant effects on both 'the number of items purchased' and 'amount of money spent'. Conclusions - The results offer some insights into the effect of servicescape on facilitating consumers' purchasing behavior in the context of the exhibition. Theoretically, this study provides a new type of conceptual framework that verifies the relationships between not only servicescape and purchasing behavior, but also purchasing behavior-related variables. In addition, this study supports the concept of a dark side of servicescape. With regards to practical implications, this study suggests that exhibition organizers should put more efforts in facilitating consumer's desire to stay. More importantly, organizers need to keep in mind that excessive emphasis on 'design/artifacts' to increase consumers' shopping duration can cause a side effect that reduces opportunities for interactions with customers.

• Journal of the Korean Statistical Society
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• v.34 no.4
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• pp.345-366
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• 2005

This paper considers the cointegrating vector estimator in the error correction model with stationary covariates, which combines the stationary vector autoregressive model and the nonstationary error correction model. The cointegrating vector estimator is shown to follow the locally asymptotically mixed normal distribution. The variance of the estimator depends on the co­variate effect of stationary regressors, and the asymptotic efficiency improves as the magnitude of the covariate effect increases. An economic application of the money demand equation is provided.

• Journal of Distribution Science
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• v.16 no.1
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• pp.29-36
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• 2018

Purpose - The purpose of the research is to further explore the understanding of the nature of the brand distribution service (i.e., service brand) by undertaking a quantitative investigation. We focus on the role of customer's perception of service brand on the customer value creation process. Research design, data, and methodology - This study used single cross-sectional design and 137 airline passengers as respondents using a convenience random sampling. We distributed the online questionnaires by email address. The empirical setting for this research is airline service in Indonesia with a consideration that airline service has the useful context for this research as the service delivery process involve extensive customer interactions with the airline and its employees. We then analyzed the data using multiple regression (step-wise) method to fulfill the research objectives. Results - Using the step-wise regression method, the result shows that the influential factors to create customer value are cost and company image. The result suggests a company to improve its costs components and its company image in order to increase the customer value. Conclusions - The research shows that costs play a critical role, and completed with the company image to form the customer value variable. This shows that mostly customer formed their value based on costs they sacrificed. Mainly, this evaluation is monetary cost based, while Indonesian customers tend to have a high value for money demands.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.475-480
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• 2020

Investing in the tax-benefit funds is the best way for the inexperienced investors who do not have knowledge, expertise, and the time to research the information by themselves. This study describes the benefits of tax-benefit funds in Thailand. The tax-benefit funds consist of retirement mutual funds (RMFs) and super saving funds (SSFs). There are many kinds of funds investment policies on offer. The tax-benefit funds provide the opportunity to investors, which they are able to invest a small amount and draw more benefits. They hire fund managers to manage their money. These funds are able to help investors to meet their goals. The RMFs are suitable for investors who want to have money for retirement, investing every year, and getting tax exemption. The investors who invest in RMFs are able to deduct the tax income by including other retirement funds not exceeding THB500,000.00 per year. The SSFs match for the investors who need to obtain the tax exemption and long-term investment for at least ten years. The SSFs provide the benefit to investors that they are able to deduct taxable income not more than THB200,000.00 per year. Finally, these funds are tax-except and promoted for retirement savings.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.1081-1091
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• 2020

The objective of this study is to disclose the effect of socio-demographic characteristics such as, age and ethnicity which is comprised of Malay, Chinese, Indian and Others on four financial capability domains namely planning ahead, managing money, choosing products and staying informed. A closed ended self-administered questionnaire was disseminated to a total of 2000 respondents among four types of groups which consist of FELDA or rural area residents, private sector employees, government sector employees and youth in institutions of higher learning in Malaysia. Those four groups were selected to cover a wide range of Malaysian population. 500 respondents were involved in this study for each types of groups through purposive sampling technique. Analysis of Variance (ANOVA) and analysis via Statistical Package for Social Science (SPSS) was utilized in this study. The results revealed that age has significant effect on planning ahead, managing money, choosing products and staying informed. Whereas, ethnicities were found to have no effect on financial capability except planning ahead domain. It is suggested that more devotion should be placed on research and professional training in building respondents' financial capability. Furthermore, government and non-government organizations should develop a comprehensive approach to intensify their financial capability and upgrade their standards of living especially of financially vulnerable households.

• Asian Journal of Business Environment
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• v.11 no.4
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• pp.17-29
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• 2021

Purpose: The aim of this study is to explore the dynamic linkage between conditional stock market volatility and macroeconomic uncertainty of Bangladesh. Research design, data, and methodology: This study uses monthly data covering the time period from January 2005 to December 2018. A comprehensive set of macroeconomic variables, namely industrial production index (IP), consumer price index (CPI), broad money supply (M2), 91-day treasury bill rate (TB), treasury bond yield (GB), exchange rate (EX), inflow of foreign remittance (RT) and stock market index of DSEX are used for analysis. Symmetric and asymmetric univariate GARCH family of models and multivariate VAR model, along with block exogeneity and impulse response functions, are implemented on conditional volatility series to discover the possible interactions and causal relations between macroeconomic forces and stock return. Results: The analysis of the study exhibits time-varying volatility and volatility persistence in all the variables of interest. Moreover, the asymmetric effect is found significant in the stock return and most of the growth series of macroeconomic fundamentals. Results from the multivariate VAR model indicate that only short-term interest rate significantly influence the stock market volatility, while conditional stock return volatility is significant in explaining the volatility of industrial production, inflation, and treasury bill rate. Conclusion: The findings suggest an increasing interdependence between the money market and equity market as well as the macroeconomic fundamentals of Bangladesh.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.10
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• pp.49-59
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• 2022

This paper examined the impact of real exchange rate volatility on trade balance in Malaysia by using quarterly data from year 2000 until 2019. Generalized Autoregressive Heteroscedasticity (GARCH) model was used to extract the volatility component of real exchange rate before examining its impact on trade balance. Furthermore, Autoregressive Distributed Lag (ARDL) model was used to investigate the long-run relationship and short-run dynamic between trade balance, money supply, national income and volatility of exchange rate. Empirical results show the existence of co-movement between variables under study in the long-run. However, the results also suggest that volatility of real exchange rate does not significantly affect trade balance neither in the long-run nor short-run. The risk which is associated in the movement of exchange rate do not influence trader's behaviour toward Malaysia exports and imports. Thus, it should be note that any depreciation or appreciation in Malaysian Ringgit do not have an impact towards trade balance either it is being further improved or deteriorates. Hence, exchange rate volatility may not be too concern for policymakers. This may be partially due to manage floating exchange rate regime that has been adopted by Malaysia eventually eliminated the element of risk in the currency market.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.705-715
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• 2021

This study examines the simultaneous impact of gender and administrative post on the research motivation of university lecturers. There are 475 selected questionnaires that are qualified for data processing and the collected data are analyzed by two-way analysis of variance (ANOVA). The results show the relationship between administration involvement and scientific research of lecturers. In general, lecturers with administrative post have higher research motivation than lecturers without administrative post. More specifically, the level of administrative post has positive correlation with research motivation of female lecturers, but has negative correlation of male lecturers. It means that a female lecturer with higher administrative post also has more motivation to conduct research. Conversely, the higher administrative post a male lecturer has, the less research motivation he is. The cause of this difference is the pressure of earning money on Asian men, including Vietnamese men, who are considered to be main breadwinners of their family. When having an administration post, the more chances male lecturers have to earn money, the less time they can spend for scientific research. This suggests that the solution for managers is to perform annual assessment, fulfill promotion process, build up motivation and reward system, and establish recruitment and promotion policies.

• Journal of Distribution Research
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• v.8 no.2
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• pp.41-65
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• 2003

The objectives of this study are to investigate how the difference of consumer behavior between the expected and unexpected price discounts(increases), and mental accounting process affect spending account. Key findings of the study are as follows. First, it is shown that consumer would regard a windfall gain caused by the expected price discount and unexpected one as a different thing(gain}, Second, this study shows that if consumers are presented the price discount on the former purchased item in the case consumers purchase two kinds of items together, they would prefer spending more money on the later item to spending more money on the discounted item. Third, it is shown that consumers are willing to do a planned purchase when they find a store's price raise before arriving at a store(expected increasing) rather than after arriving at a store(unexpected increasing). The theoretical as well as practical implications were also discussed.