• The Journal of Asian Finance, Economics and Business
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• v.9 no.6
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• pp.245-252
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• 2022

This study examines the strength of the impact of fiscal policy tools on economic wellbeing as measured by per capita income in Malaysia from 1996 to 2020. The impact of fiscal policy instruments on economic wellness, represented by real income per capita, is measured using the autoregressive distributed lags model. The speed of adjustment from short-run disequilibrium to long-run equilibrium is also measured to assess the strength of the fiscal instruments' impact on per capita income. Empirical results exhibit the existence of co-integration relationships between per capita income, tax revenue, and government spending. The findings provide strong support for the presence of a long-run positive impact on government spending and a long-run negative impact of tax revenue on per capita income. The coefficient of ECT_t-1 indicates that deviations from a short-run disequilibrium to a long-run equilibrium from the current to the future period are corrected with a speed of 76% (equivalent to a duration of 1.5-2 years to return to equilibrium). The practical and policy implication of the results is fiscal instruments play a significant role, mainly in alleviating the economic impact of the COVID-19 pandemic in the long run.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.759-768
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• 2020

The purpose of this study is to assess the state of competition in Nepalese banking over the period from 2010 to 2019. This study employs panel data and a non-structural Panzar-Rosse model to measure the degree of competition in the Nepalese banking industry. The first reduced-form equation is applied to gauge competition, and the second model is used to test the long-run equilibrium in the banking market. The finding reveals that the Nepalese banking market is equilibrium in the long-run. It implies that the factor prices do not affect ROA in the long-run. The result of the H-statistic shows that the Nepalese banking system is operating under the state of perfect competition and is shifted from monopolistic competition to perfect competition. The reduced-form model reveals that the interest income is positive and significantly affected by factor prices. Similarly, the macroeconomic variable GDP growth is positively related to interest income. On the contrary, the bank's specific factors risk and the number of bank branches are inversely associated with the regressand. The outcomes of the study may be advantageous to the policymakers, especially to Nepal Rastra Bank to implement monetary policy and M&A policy for the stability and growth of the financial system of Nepal.

• Journal of Fashion Business
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• v.27 no.1
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• pp.1-15
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• 2023

This study divided articles into two time periods, from 2012 to 2022, with the aim of using big data analysis to look at patterns in the ecosystem of fashion start-ups. The research method extracted top keywords based on TF(Term Frequency) and TF-IDF(Term Frequency-Inverse Document Frequency), analyzed the network, and derived centrality values. As a result of comparing the first and second fashion startup ecosystems, elements of policy, support, market, finance, and human capital were derived in the first period. In addition, in the second period, elements of policy, support, market, finance, and culture were derived. In the first period, the fashion startup ecosystem focused on fostering new designer startups by emphasizing support, finance, and human capital factors and focusing on policies. Meanwhile, in the second period, online-based fashion platform startups and fashion tech startups appeared with the support of digital transformation and fulfillment services triggered by COVID-19(Corona Virus Disease 19), private finances were emphasized, and cultural factors were derived along with success stories of fashion startups. This study is meaningful in that it helps in developing strategies for fashion startups to grow into sustainable companies.

• Journal of Digital Convergence
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• v.8 no.2
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• pp.189-202
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• 2010

Although e-Finance has become more and more prevalent in everyday life, with the development of information technology, further development of e-Finance and commercial transactions has been limited. Therefore it is important for financial institutions to be aware of the significance of e-Finance risk and take appropriate actions. And an effective risk management function relies on a well-defined organization structure to eliminate gaps and minimize overlaps in risk management duties, responsibilities, and authorities. It defines and assigns risk management responsibilities, authorities, and accountabilities to appropriate personnel. The adequate organization of the risk management function is very important in the success of risk management.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.725-735
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• 2021

This study investigates whether the Islamic Exchange-Traded Funds (ETFs) provide significant benefit to investors relative to conventional ETFs. Six pairs of Islamic and conventional ETFs with 10-year daily price data from 2010 to 2019 have been selected from major market indices like MSCI World Index, MSCI Emerging Markets, MyETF Dow Jones Islamic Market Malaysia, MSCI South East Asia and Wahed FTSE Shariah USA Index for this study. For ETFs that are launched after 2010, the price data from launch date to 2019 are used. Our results show: First, Islamic ETFs are more likely to trade at a premium rather than at a discount, implying the investors are willing to pay a premium. Second, it is also found that Islamic ETFs have a relatively shorter period of price deviation from the benchmark, implying more price stability. Third, conventional ETFs have higher return and lower tracking errors relative to Islamic ETFs. These new findings add to the stylized facts of Islamic ETFs in the extant literature for investors, plan sponsors and regulators as to the differences between the ETFs. As policy suggestion, asset management companies can design new investment products to bridge the gap between conventional and Islamic finance.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.1241-1248
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• 2021

This study employs data from CRSP/Compustat files for the period from 2003 to 2017 and applies a panel data analysis. The results of this study show a positive relationship between trade credit and the firm's market value, however, the results show a negative relationship if we test the impact of financial credit on the firm's market value. The results have direct policy implications for investors, the firm's management, and financial strategy. An implication of our study is that using trade credit as a source of financing may give a positive signal of the firm's creditworthiness and increase the firm's market value. Also, the results of our study indicate that the benefits of using trade credit may outperform the cost of using it as a source of finance. Prior studies examine the impact of financial leverage on the firm's value, however, this study contributes to the existing studies that examine the factors that affect the firm's market value by examining the impact of using trade credit finance on the firm's market value. The main limitation of this study is that the results are based on listed firms, using data from unlisted firms is not available.

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

Based on assessing the impact of factors on the business efficiency of construction enterprises, the research team proposes policy implications to improve the business performance of listed construction enterprises in Vietnam in the coming time. The study used secondary data collected from the audited financial statements of 25 enterprises listed on Vietnam's stock market in the period 2015-2021 to estimate the factors affecting the business performance of construction enterprises. After collecting, the data will be encrypted and checked. The article uses a quantitative research method by using a linear regression model on Eviews 10 to analyze the data and analyze the impact of factors on the business performance of construction enterprises listed on Vietnam's stock market. The research result shows that firm size and growth rate positively affect business performance while capital structure, receivable management, fixed asset investment, and economic growth have a positive impact on the business performance of construction companies listed on the Vietnamese stock market. Based on this result, the paper also makes recommendations to the Vietnamese construction companies to enhance their business performance.

• KDI Journal of Economic Policy
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• v.38 no.2
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• pp.1-20
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• 2016

In this paper, we conduct uniform inference of two widely used versions of the Phillips curve, specifically the random-walk Phillips curve and the New-Keynesian Phillips curve (NKPC). For both specifications, we propose a potentially time-varying natural unemployment (NAIRU) to address the uncertainty surrounding the inflation-unemployment trade-off. The inference is conducted through the construction of what is known as the uniform confidence band (UCB). The proposed methodology is then applied to point-ahead inflation forecasting for the Korean economy. This paper finds that the forecasts can benefit from conducting UCB-based inference and that the inference results have important policy implications.

• Management & Information Systems Review
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• v.25
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• pp.321-337
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• 2008

The house price rise suddenly is not only Economic stability but economic, mental state of a heavy burden to people. This paper is a house finance environment analyzed in this research about the rise factor of the house price and the result to present the plan to the natural disposition. The financial institute has an influence on the disguised demand extension of the house and The mortgage Lending in commercial Banks with the earnings as the stability high than the industry loaning. A house finance environment changes and will go from economic factor of the variety of the life style, the housing conditional according to the income level, a children education condition, and the population structure many this little. The disposition of the house need changes according to this and will have an influence on the house price. Necessary for a house market environment house policy of the market need which the consistency reflects so that we are suitable and is desired.

• International Commerce and Information Review
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• v.15 no.3
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• pp.289-310
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• 2013

In the past, an policy measures for the promotion of the export has actively used trade finance, but also in its effect there is no doubt. However, in 2008 the bankruptcy of Lehman Brothers triggered the global financial crisis. As a result, the need to effectively manage liquidity risk posed, and was a debut for Basel III. Focusing on trade finance banks are being made. Domestic commercial banks have not been able not utilize various trade finance techniques. In these situations, the introduction of Basel III can discourage trade finance. Therefore, responses should be prepared for it. Therefore, this study analyzes the status of trade finance system. And international regulation of the financial market are investigated for changes. Based on this, the development direction of Korea's trade finance is proposed.