• 유통과학연구
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• 제20권7호
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• pp.97-105
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• 2022

Purpose: This study aims to analyze and prove the effect of logistic capability and Total Quality Management practices on Micro, Small and Medium Enterprises (SME) performance directly or mediated by non-financial performance. Research design, data and methodology: This study tested the hypothesis using Hierarchical multiple regression analysis, the method of data collection in this study was using questionnaire, the sampling technique was purposive sampling technique, with SME that has been established for more than 5 years and manufacturing. The data analyzed were 180 respondents using SPSS 25. Results: The findings showed that logistic capability has direct and indirect effects on SME financial performance and has a positive effect on SME financial performance mediated by non-financial performance. While the total quality management practices have a positive effect on SME financial performance mediated by non-financial performance. Thus, companies can achieve maximum financial performance if they invest in developing employee knowledge and concerning on non-financial actions, such as employee satisfaction, innovation and proactively seeking market opportunities. Conclusions: In conclusion, one of the main factors that companies need to consider to improve financial performance is non-financial performance in mediating the effect of logistic capability and TQM practices on the financial performance of SMEs.

• 유통과학연구
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• 제14권6호
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• pp.99-106
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• 2016

Purpose - The antecedent to the relationship between the effect of the characteristics of strategic alliances and the performance of container liner shipping companies has been investigated in this study as container liner shipping companies' strategic alliances. It affects positively and negatively home, partner, and the third parties' performance in container liner shipping companies. Extensive literature reviews on shipper's strategic alliances reveal that strategic alliances in financial and non-financial performance of container liner shipping companies show the performance such as economic effects, business performance, global supply chain management performance, customer satisfaction, and forward integration and backward integration performance. The purpose of this study is to test empirically that the relationship between the characteristics of strategic alliances and financial and non-financial performance in container liner shipping companies. Structured equation modeling and confirmatory factor analysis were used to test the hypothesis using AMOS statistics program. Most previous researches focused on the relationship between the characteristics of strategic alliances and alliance types. There are few empirical studies that focus on business performance data because it is difficult to collect data in container liner shipping companies. However, this research measures financial and non-financial performance differently compared with the previous researches focusing on the characteristics of strategic alliances and alliance types measurements. Research design, data, and methodology - The conceptual model for the study is based on the studies of Lim (2010), Chen & Zhen (2009), and Wang & Meng (2014). The model is built around the factors of characteristics of strategic alliances and business performance. Cost, marketing, and service factors are regarded as proxy for the characteristics of strategic alliances. The financial and non-financial performance are regarded as proxy for the performance of strategic alliances. Based on the analysis of one hundred cases such as forwarder, shipper, and liner shipping companies, this study uses structural equation modeling to verify the effects of the characteristics of strategic alliances on business performance. Conclusions - This study provides container liner shipping companies to get some policy and practical implications in terms of the characteristics of strategic alliances and business performance. First, the cost factor for alliances characteristics has a positively significant influence on the financial and non-financial performance of strategic alliances. The cost factor relationship between high and low performance group does not have a significant difference on the performance of strategic alliances. Second, the marketing factor of alliances characteristics has a positively significant influence on the financial and non-financial performance of strategic alliances. The high performance group's marketing factor has a great non-financial performance than low performance group, but the low performance group's marketing factor has a grater financial performance than high performance group factor does. Third, the service factor of alliances characteristics has a negative influence on the non-financial performance of strategic alliances. The high performance group's service factor has a great non-financial performance than low performance group. Based on the findings from this study, related implications and future avenues deserve to be discussed.

• 한국병원경영학회지
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• 제16권3호
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• pp.57-74
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• 2011

The purpose of this study is to analyze the relationship between the BSC model's non-financial factors such as learning and growth, internal process, customer and financial factor in general hospitals. To achieve research purpose, the data were collected from 293 employees of 5 hospitals using a standardized questionnaires which were constructed to include BSC model, and applied the structural equation modeling to examine the relationship between non-financial and financial factor. The results show that the learning and growth factor of the model has positive effects of the internal process and customer factor. The internal process and customer factor are strongly related to financial factor. Hospitals have to know non-financial factor which has positively relate to financial factor. Therefore, the results of this study help to enhance the health care center to become aligned and focused on implementing the long-term competitive strategy. This study proposes an effective performance indicators for general hospitals and it is expected to be likely to have positive influence upon enhancing services of general hospitals.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.373-381
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• 2021

This study aims to investigate the impact of financial distress on the cash holding of non-financial companies in Indonesia as the largest emerging economy among ASEAN countries. Furthermore, the sub-sample business group to be investigated were divided into two, groups namely affiliated and non-affiliated groups. This was carried out to ascertain the difference in the impact of financial distress on cash holding between both groups. Sample collection was based on all firms listed on the Indonesian Stock Exchange (IDX) during 2008-2017, comprising 137 firms. The results showed that using the two-step system Generalized Method of Moments (GMM), the coefficients for financial distress (Z-Score) indices were positive and significant for all models. Therefore, the higher the Z-Score value, the lower the company's financial distress and vice versa. This implies that the lower the company's financial distress, the lower the cash holding. Furthermore, a positive and significant impact of the Z-Score on cash holding for non-affiliated groups was discovered. This implies that there are differences in the amount of cash holding between affiliated and non-affiliated groups. This result indicates that non-affiliated groups hold more cash during financial distress. However, these results had cash policy implications, particularly for non-affiliated groups.

• The Journal of Asian Finance, Economics and Business
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• 제9권5호
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• pp.111-118
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• 2022

The purpose of this research is to evaluate the quality of non-financial information disclosure by companies listed on the Vietnamese stock exchange. In 2019, 140 annual reports from 140 companies listed on the Vietnam Stock Exchange were included in the research sample. The remaining 134 reports were eligible study after removing those that lacked essential data. Using the statistical software SPSS version 25 and Excel office software, the study has selected the data processing method and the disproportionate disclosure index method to evaluate the quality of non-financial information disclosure of companies. The findings of the study demonstrate that companies listed on the Vietnam stock exchange are particularly interested in giving non-financial information to financial statement consumers as required by law, although the level of disclosure is still inadequate. The findings also illustrate the varying levels of non-financial information disclosure by category of information, as well as substantial disparities between them (general information about the company, environmental and social information, corporate governance information, etc.). The findings of the study show that the majority of Vietnam's publicly traded enterprises are less interested in reporting environmental information.

• 산경연구논집
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• 제9권9호
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• pp.15-23
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• 2018

Purpose - The purpose of this paper is to examine the determinants of non-bank depository institutions (non-bank financial corporations) lending to firms. The paper aims to contribute to the existing literature by providing empirical evidence from firm-level data and unveiling factors related to access to non-bank financial corporations by firms. Research design, data, and methodology - We used the data on borrowing by firms from CRETOP from years 2008 to 2011. Using the manufacturing industry, we examined what firm-level characteristics explained the increase in borrowing from non-bank financial corporations rather than the banks. Results - Analyzing the firm-level data from 2008 to 2011, we found that firms were more likely to borrow from non-bank financial insti­tutions as the size of the firm increases, implying that large firms have more access to non-bank financing than small and medium-sized firms. In addition, it also showed that small and medium-sized firms moved to non-bank financial corporations for loans. Conclusion - Non-bank depository institutions are not a sub­stitute for bank lending to firms. More specifically, they replace bank lending to firms mostly for large firms rather than small and medium-sized firms. Also, collateral and other firm-level characteristics do not matter in accounting for non-bank lending to firms.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.215-224
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• 2021

This article emphasizes the consequences of exploring the relationship between sustainable development practices and non-financial performing factors. Also, it investigates the combined effects of the transformational leadership style on the relationship between sustainable development practices and non-financial performing factors. Using primary data sources, this study reviews the literature on the relationship between the factors of the effectiveness of sustainable development practices of Jordanian contractors and non-financial performance. A total of 290 questionnaires were personally distributed to contractors in the Amman district in Jordan. Only 253 questionnaires were returned and usable for further analysis, which represents a response rate of 87%. Data was collected from October 2020 until April 2020. Hypotheses were tested through multiple regression analysis, and hypotheses for interacting effect were examined through hierarchical multiple regression analysis. Based on the results of the analysis obtained there is a significant effect on the relationship between sustainable development and non-financial performances. It shows that construction companies involved in sustainability practices will able to improve their performance, which contributed significantly toward the overall firm's performance. Whereas, results from hierarchical multiple regressions showed that transformational leadership had no moderation effect on the non-financial performance in such a way that reaches a higher firm performance level.

• 가정과삶의질연구
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• 제29권4호
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• pp.125-145
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• 2011

The purposes of this study were to examine low-income households' financial statuses and the socio-economic characteristics of single-person and non-single person households according to the financial indexes used for evaluating financial security and growth status developed based on financial ratios. Using 2009 KLIPS(Korean Labor & Income Panel Survey) data collected by the Korean Labor Institute, the satisfaction levels from the indexes were analyzed and compared between the two household types. The results showed that 46.0% of single-person households were not satisfactory in terms of all financial growth indexes but were partially satisfactory in terms of all financial security indexes. These householders tended to be females and in the their 70s, who lived in Seoul or in a suburb of Seoul, Korea. They reported problems with a lack of financial growth possibilities. 47.0% of non-single person households were not satisfactory in terms of all financial growth indexes but were partially satisfactory in terms of all financial security indexes. These householders tended to be males in their 60s and 70s with no job who were living in Seoul or in a suburb of Seoul, Korea. They reported having low level of liquidity and high level of debt redemption. 42.6% of single-person households were not satisfactory in terms of both financial security and growth indexes partially. These householders tended to be females in their 20s or 70s who were living in rural areas. They reported problems related to an adverse balance between household income and expenditures and a large scale of debt. 43.1% of non-single households were not satisfactory in terms of both financial security and growth indexes partially. These householders tended to be males in their 60s or 70s and homeowners. They reported problem related to an adverse balance of household income and expenditures and high a level of housing expenditures and liquidity. The research findings have implication for policy makers considering financial support programs and welfare programs for low-income householders, considering the recent changes in households structures.

• The Journal of Asian Finance, Economics and Business
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• 제8권8호
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• pp.1-12
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• 2021

Altman's Z-score is used to measure a company's financial health and to predict the probability that a company will collapse within 2 years. It is proven to be very accurate to forecast bankruptcy in a wide variety of contexts and markets. The goal of this study is to use Altman's Z-score model to forecast insolvency in non-financial publicly traded enterprises. Non-financial firms are a significant industry in Malaysia, and current trends of consolidation and long-term government subsidies make assessing the financial health of such businesses critical not just for the owners, but also for other stakeholders. The sample of this study includes 84 listed companies in the Kuala Lumpur Stock Exchange. Of the 84 companies, 52 are considered high risk, and 32 are considered low-risk companies. Secondary data for the analysis was gathered from chosen companies' financial reports. The findings of this study show that the Altman model may be used to forecast a company's financial collapse. It dispelled any reservations about the model's legitimacy and the utility of applying it to predict the likelihood of bankruptcy in a company. The findings of this study have significant consequences for investors, creditors, and corporate management. Portfolio managers may make better selections by not investing in companies that have proved to be in danger of failing if they understand the variables that contribute to corporate distress.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.807-815
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• 2021

Microfinance is seen as a tool for poverty elimination by providing various services characterized as financial and non-financial to minority groups in the society to be included in the mainstream financial system. This paper seeks to examine the effect of microfinance institutions' (MFIs) financial and non-financial services on women's entrepreneurship and empowerment in Jordan as a developing country. To gain a deeper understanding of the effectiveness of microfinance services, the study is undertaken to address the question of what kinds of services are available and whether the MFI services are in line with the actual needs of women entrepreneurs to improve their performance. Hence, a qualitative approach was adopted in this study using semi-structured interview questions to collect data from twenty-four women entrepreneurs in Jordan. The results showed that, as regards financial services, the most important needs of women entrepreneurs include providing adequate financing with necessary financial facilities such as reducing interest, reducing monthly installments, and extending the grace period, while non-financial services should include holding specialized courses, accessing a counseling center, providing incentives and psychological support, marketing support, and monitoring and evaluation. This study concluded that factors associated with MFI play a crucial role to uplift women entrepreneurs and eliminate gender inequality.