• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.177-184
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• 2020

This paper analyzes factors affecting corporate investment decisions in economic groups listed on the Vietnam stock market. The panel data of the research sample includes 39 economic groups listed on the Vietnam stock market from 2009 to 2019. The Generalized Least Square (GLS) is employed to address econometric issues and to improve the accuracy of the regression coefficients. In this research, the investment rate is a dependent variable. Cash-flow (CF), Investment opportunities (ROA), Fixed capital intensity (FCI), Leverage (LEV), Sales growth (GR), Size (SZ), Business risk (RISK) are independent variables in the study. The model results show that cash flow and sales growth have the same impact on investment decisions of economic groups in Vietnam. In addition, investment opportunities have a negative impact on the capital investment decisions of economic groups. The remaining factors include fixed capital intensity, leverage, firm size, and business risks that have a weak and insignificant impact on capital investment decisions of economic groups in Vietnam. The findings of this article are useful for business administrators, and helping business managers make the right financial decisions. Besides, the research results are also meaningful to money management agencies. The authors recommend that the State Bank of Vietnam should maintain a sustainable monetary policy.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.141-148
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• 2020

This paper analyzes factors affecting the debt maturity structure of enterprises listed on the Vietnam stock market. The panel data of research sample includes 549 non-financial listed enterprises on the Vietnam stock market from 2009 to 2019. The Generalized Least Square (GLS) tool is employed to address econometric issues and to improve the accuracy of the regression coefficients. In this research, debt maturity structure is the dependent variable. Capital structures, fixed assets, liquidity, firm size, asset maturity, profitability, corporate income tax, gross domestic product, inflation rate, credit growth scale are independent variables in the study. The model results show, that among the factors affecting the structure of debt maturity, the capital structure, asset structure, and firm size have the highest estimation coefficients, which shows that capital structure, asset structure, and firm size plays an important role in the decision-making process of debt maturity structure. The empirical results show that there are differences in the impact of these factors on the debt maturity structures in state-owned enterprises and non-state enterprises listed on the Vietnam stock market. The findings of this article are useful for business administrators, helping business managers make the right financial decisions to determine the target debt maturity structure in enterprises.

• Nutrition Research and Practice
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• v.12 no.3
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• pp.251-257
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• 2018

BACKGROUND/OBJECTIVES: There are few studies that forecast the future prevalence of obesity based on the predicted prevalence model including contributing factors. The present study aimed to identify factors associated with obesity and construct forecasting models including significant contributing factors to estimate the 2020 and 2030 prevalence of obesity and abdominal obesity. SUBJECTS/METHODS: Panel data from the Korea National Health and Nutrition Examination Survey and national statistics from the Korean Statistical Information Service were used for the analysis. The study subjects were 17,685 male and 24,899 female adults aged 19 years or older. The outcome variables were the prevalence of obesity (body mass index ${\geq}25kg/m^2$) and abdominal obesity (waist circumference ${\geq}90cm$ for men and ${\geq}85cm$ for women). Stepwise logistic regression analysis was used to select significant variables from potential exposures. RESULTS: The survey year, age, marital status, job status, income status, smoking, alcohol consumption, sleep duration, psychological factors, dietary intake, and fertility rate were found to contribute to the prevalence of obesity and abdominal obesity. Based on the forecasting models including these variables, the 2020 and 2030 estimates for obesity prevalence were 47% and 62% for men and 32% and 37% for women, respectively. CONCLUSIONS: The present study suggested an increased prevalence of obesity and abdominal obesity in 2020 and 2030. Lifestyle factors were found to be significantly associated with the increasing trend in obesity prevalence and, therefore, they may require modification to prevent the rising trend.

• Proceedings of the Korea Water Resources Association Conference
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• 2018.05a
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• pp.394-394
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• 2018

최근 기후변화로 인하여 강수량 및 집중호우 발생 횟수의 증가에 따라 홍수의 발생 빈도 및 강도가 증가한다. 기후변화에 따른 미래의 강수량 예측은 2013년에 발간된 IPCC(Intergovernmental Panel on Climate Change) 5차 평가보고서 (AR5)를 활용하여 분석하고 있다. 기후변화 시나리오에 따라 기온 상승률 및 강수량의 증가량, 극한 강우사상의 발생 빈도 및 발생정도가 다르게 결정되며, 극한 강우사상으로 유발되는 홍수의 피해 정도가 홍수피해 유형별로 다르게 나타난다. 본 연구에서는 기후변화에 따른 미래의 홍수 피해 정도를 예측하기 위하여 홍수에 영향을 미치는 인자 및 홍수를 감소시키는 인자들을 활용하여 단계적 회귀모형을 이용하여 인명피해, 피해면적, 피해액, 발생빈도 등 홍수피해 유형 별로 현재 및 미래의 홍수피해정도를 예측 및 분석하였다. 홍수에 영향을 미치는 인자로 연평균강수량, 일최대강수량, 1시간최대강수량, 10분최대강수량, 호우일수, 인구밀도, 자산밀도, 도로현황, 시가화율 등을 사용하였고, 홍수 피해를 감소시키는 치수대책으로는 하천개수율, 하수도보급률, 양수량, 유수지용량 등을 사용하였다.

• The Journal of Industrial Distribution & Business
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• v.12 no.8
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• pp.33-39
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• 2021

Purpose: The influence of age on time preference is not identified in the usual cross-sectional analysis. This study aims to test whether age affects time preference after controlling for the effects of individual heterogeneity including cohort effects. Research design, data and methodology: Drawing on a nationally representative panel dataset of Indonesians, we estimate the effects of age on time preference after controlling for unobserved individual heterogeneity as well as potential cohort effects. We measure time preference exploiting information on two sets of multiple price lists: one for a one-year delay, and the other for a five-year delay. Results: When we controlled for time-invariant individual characteristics, including birth cohort effects in a fixed effects model, the older men and women were more patient in a linear fashion, particularly when the delay was longer. To highlight the importance of controlling for individual fixed effects, we repeated the specification without controlling for individual fixed effects in OLS or censored maximum likelihood regression; we found no relation between age and impatience in men or women and for a one or five-year delay. Conclusions: The older men and women are more patient, and time preferences are correlated with unobserved individual heterogeneity.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.679-688
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• 2021

This study aims to verify family ownership's effect on earnings management by using corporate governance as the moderation variable. This study uses data panel regression with the period of 2011-2017. Corporate governance consisted of three dimensions, namely the board of commissioners, share ownership and transparency, and disclosure and auditing. Discretionary accruals measure earnings management with a model that controls company performance. Samples are manufacturing companies listed on Indonesia Stock Exchange. Observations were conducted on 198 firms throughout the year. The results indicated that corporate governance significantly affected earnings management. However, it declined the significance of family ownership toward earnings management. Hence, corporate governance can reduce earnings management. Furthermore, of the three components of corporate governance: the board of commissioners, shareholding, and transparency, the term shareholding precisely encouraged managers to conduct earnings management. Besides, the three core bodies of corporate governance lowered the significance of shareholding toward earnings management. This study's findings suggest that in family firms in Indonesia, earnings management is becoming more intensive than in non-family firms. Additional tests show that there is an entrenchment effect on family firms in Indonesia. Furthermore, corporate governance leads to earnings management.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.649-656
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• 2021

This paper aims to examine the moderating role of bank competition on the effect of liquidity creation on bank capital. We measure bank competition using the Lerner index approach, liquidity creation using the Catfat approach, and bank capital using the capital to total asset ratio approach. This test also considers control variables from bank-specific factors such as Return on Assets, Loan to Deposit Ratio, and Non-Performance Loans as well as macroeconomic factors such as Gross Domestic Product, inflation, and Bank Indonesia interest rates. The sampling technique used was purposive sampling. The data sample obtained was 96 banks from a population of 114 banks in Indonesia which consistently operated during the period 2008-2018. Hypothesis testing uses panel data regression analysis techniques through the first model of the Hayes method. The results show that the negative effect of liquidity creation on bank capital depends on competition. We found that bank competition at any level (low, medium, high) negatively moderates (weakens) the effect of liquidity creation on bank capital in all banks. This finding is consistent with the view that banks may strengthen their capital in response to bank competition which may decrease the level of bank liquidity creation.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.923-931
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• 2021

The aim of the present study is to analyze the financial performance of converted commercial bank from non-banking financial institution through a case study of Bangladesh Commerce Bank Limited as sample organization. It is observed that the bank is able to achieve a stable growth rate in total deposits, total loans and advances, and net income after tax during the period of 2015-2019. Researchers also calculated some ratio analysis and noticed that the financial position of Bangladesh Commerce Bank Limited was not so strong because bank's ROA, ROE, NIM and other ratios were below standard. Researchers used secondary data that were examined by using descriptive statistical tools and panel data regression model. Result shows that Bangladesh Commerce Bank has satisfactory operating efficiency, assets management efficiency, and gives loans to customers. In addition, the present study has tested some hypotheses regarding net income after tax, ROA and ROE with total assets, total loans, total deposits and interest income. These hypotheses have been accepted, which means there is no significant influence of the independent variable on the dependent variable. The study suggests that Bangladesh Commerce Bank Limited had the opportunities to make their financial position stronger by utilizing their good financial position and management efficiencies.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.851-861
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• 2021

The main objective of this study is to examine the government ownership effect on the United Arab Emirates (UAE) firm's corporate social responsibility (CSR). Government ownership is assumed to affect the CSR either directly or indirectly. That is by moderating the association between corporate governance and CSR. Publicly listed companies on the UAE capital markets (Abu Dhabi and Dubai) from 2010-2013 constituted the study sample. Panel data regression analyses and random effect model is used to examine the effects of board size, board independence, and audit committee characteristics on CSR. Government ownership is used as a moderator variable. The result showed that the existence of government ownership has a moderator effect on the association between corporate governance mechanisms and the CSR. Precisely, the research revealed that the audit committee characteristics become more effective in improving the firm's CSR when the government owns shares in the organization. The main contribution of this study is to examine how firm ownership structure influences good corporate governance and CSR in the UAE. The study contributes to the CSR literature by merging between the existence of governmental ownership and the power to enforce the implementation of corporate governance in an emerging country.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.10
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• pp.39-48
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• 2022

This research aims to investigate the application of Keynes's theory in Indonesia, particularly in solving unemployment and poverty problems through government spending, economic growth, and human resource capacity. The basic concepts of the Keynesian theory were used as a method, through which government spending was harnessed toward economic growth in reducing unemployment and poverty rate. The analytical materials used were panel data for the 2017-2021 period in Central Java, Indonesia. The analytical methodology used was a multiple regression experimental design in selecting the best model according to Keynes's theory, especially for overcoming formidable problems. The main results showed that large Government spending program is ineffective in encouraging pro-growth, pro-job, pro-poor, and pro-equity development policy strategies. The causes of this failure include the violation of Keynes' assumptions about rationality and the low quality of education investment, which do not encourage productive and innovative entrepreneurship, as well as self-employment opportunities. As a result, government spending, including subsidies and direct financial assistance, used to implement the macroeconomic monetary, unstructured, and fiscal policy system is insufficient to significantly reduce the enormous difficulties. The main research results confirm that human capital capacity is the key to mitigating and reducing unemployment and poverty.