• 한국사회복지학회:학술대회논문집
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• 2005.04a
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• pp.387-411
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• 2005

The purpose of this article is to analyse the expenditure structure of the welfare mix; in order to grasp the holistic feature of the Korean social welfare. Most of all, the article attempts to elaborate the estimation methods of social welfare expenditure by including the components from which has been excluded so far - indirect tax expenditure of the government, nursery payments of households, life insurance pay-outs for survivors, inter-household private income transfers and the value of caring work of the family. In so doing, the article estimates that the total social welfare expenditure including state, enterprise, market, NPOs and family reached at 24.7% of GDP in 2000, which is approximately 2.5 times more than public social welfare expenditure. It implies that non-state, private sectors dominates the structure of social welfare provisions in Korea. In addition, based on the analyses of the expenditure structure, the article defines the main feature of Korea's welfare mix as the 'mixed structure of the welfare mix dominated by the protective family', or 'expanded public sector, relatively limited market, and protective family'. Such a family-dominated welfare mix structure in Korea indicates that the fundamental source of solidarity of the Korean social welfare system is family and, therefore, the welfare regime of Korea can be classified as 'Conservative'.

• Journal of the Korean housing association
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• v.26 no.5
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• pp.53-60
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• 2015

This study is aimed at identifying and evaluating the current operating model of elderly group homes in Korea, which were introduced with the amendment to the Welfare of the Aged Act in 2008, based on a survey of 25 managers of such homes. There are several key themes identified in the evaluation of their operation in terms of human resources, service, space and finance. The number of employees at the homes complied with the applicable law, with the majority having more employees than the minimum legal requirement for the care of residents. A wide variety of service programs were offered for residents. Typically located within detached houses purchased on the first floor, the homes varied in size from 73 square meters to 560 square meters, with each having a distinctly residence-like atmosphere. The greatest challenge such homes face was a shortage of financial resources. Many struggled to operate because they have no other source of revenue than payments from residents. Consequently, to help promote elderly group homes, there needs to be state-level support for the view that providing assistance for self-sufficient elders can save social costs in the long run by delaying their transition to a physical state requiring constant nursing.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.4
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• pp.17-26
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• 2017

Many workers today encounter the problem of overemployment which occurs when actual working hours exceed preferred or desired working hours. Overemployed workers desire to work fewer hours although this may entail a concomitant decline in earnings. This research is conducted to examine the likelihood of overemployment among employees in a particular state in Malaysia, that is, Penang. This study uses primary data that was collected in a survey encompassing a total of 525 employees in the state. A logit model is used to analyse the relationship between the likelihood of overemployment and various socio-demographic, household and work-related variables. The factors that are significantly related to overemployment are ethnicity, age, education, number of children in the household, occupation, hours of work and control over work schedule. Based on the findings of this paper, it is suggested that policies such as offering part-time jobs or job-sharing options to older workers, implementing family-friendly policies, adopting decent working time measures and strategies that give workers more control over their work schedule are some possible ways to deal with the issue of overemployment.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.159-168
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• 2020

This is a quantitative research, underpinned by the philosophy of natural science and deduction approach that examines the impact of the various aspects of corporate governance mechanism on the choice of capital structure of Vietnamese listed firms. We focus on the effect of factors such as the board size, the board independence, and especially different ownership structures, which include the managerial ownership, the state ownership, the concentrated ownership, and the foreign ownership. They are the main scopes of corporate governance and are supposed to be relevant to determine the corporate financing choice. To explain the causal relationship between factors, we construct the regression model and then test it by using different statistical method approaches, including the pooled OLS, the fixed effects model, and the random effects model. Data are collected from 336 firms with shares listed in the Ho Chi Minh City Stock Exchange in Vietnam, totaling 1583 observations. Overall, the results reveal that the board size, state ownership, and concentrated ownership have positive impact on the firm's capital structure, whereas foreign ownership appears to have negative influence on the capital structure. The research does not find evidence of a the correlation between board independence, managerial ownership and corporate capital struture.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.251-260
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• 2020

The purpose of this paper is to investigate the impact of total factor productivity (TFP), institutional quality, and interactive variable between them on economic growth in 13 low-middle income countries in Asia for the period 2000-2018. The paper uses the difference Generalized Method of Moments (GMM) to explore the dataset provided by the World Bank. The empirical results show that TFP and the interactive variable positively impact on the economic growth, while the institutional determinants have a negative influence. The negative effect is explained by the weak institutions in these low-middle income countries. The findings of the study suggest two points. First, the government should continue to improve TFP, which is associated with the application of technical advances, technological innovations, improvement of management methods, and skilled workers. Second, far more important, is that the authorities should pay special attention to implement institutional reform and strengthen the governance in the future. The successful experiences from Japan, Korea and Singapore will help other governments in Asian low-middle income countries to build developmental state. Probably, the developmental state actively interfere in the market to promote and realize the development goals. By doing so, these economies might overcome the so-called "middle-income trap".

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.433-442
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• 2020

This study investigates the impact of fiscal transfer, specifically the Village Fund Transfer, on rural income inequality and rural poverty. Studies on fiscal transfer offers contrasting outcomes, some argues that fiscal transfer suppresses wealth disparity, while others argue that it tends to widen disparity. This study employs descriptive analysis in estimating the elasticity of income inequality and poverty rate before and after the Village Fund Transfer. It develops multiple regressions model on panel datasets of 33 provinces in Indonesia before and after the implementation of Village Fund Transfer. This study suggests that the elasticity of income inequality is higher after the implementation of village fund transfer. Rural poverty tends to decline annually, however, the elasticity changes is lower after the implementation of village fund transfer. Furthermore, this study suggests that village fund transfer is insignificant in coping with the issue of income inequality, while education and the level of labor productivity of agricultural sector appears to be the determinant factor in tackling the issue of income inequality in the rural areas. This study further reveals the significance of village fund transfer in suppressing the rural poverty rate. This study also highlights the significance of human resources quality and agricultural sector in reducing poverty rate in rural areas.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.1
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• pp.47-58
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• 2019

The purpose of this paper is to examine the relationship between the nature of controlling shareholders and corporate anti-corruption practice disclosure (ACPD) as well as the mediating role of political background of the chairman or CEO of the firm on the relationship between the two. The content analysis was conducted to extract ACPD from standalone corporate social responsibility reports (CSRR) of 703 China's A-share listed companies. A dummy variable was constructed according to whether a firm disclosed ACPD or not. Logistic regression analysis was used then. Results show that the nature of controlling shareholders has a significant impact on corporate ACPD, with central enterprises disclosing the most frequently, local state-owned enterprises the second and private enterprises the least. Political background of the chairman or CEO has a negative impact on corporate ACPD of state-owned enterprises. These findings have some useful insights in understanding the rent-seeking behavior and information disclosure behavior of corporates in emerging markets. In order to curb the serious corruption problem which is commonplace in developing countries like China, the government should exert certain pressure to strengthen the supervision of information disclosure of listed firms and improve information transparency.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.10
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• pp.57-64
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• 2021

In the last decade, the effect of digitalization was the most cited issue in economic discourse, especially since technological advances, automation, and artificial intelligence are the key to the future discussions. Unemployment is one of the most important and continuous debates, especially in times of crisis due to the COVID-19 pandemic. Therefore, this study aims to analyze the influence of leadership style in innovation organizations to deal with the crisis. In this study, a non-probability purposive sampling method was used. A total of 377 respondents were from LinkedIn social media in Indonesia, with the criteria of employees who have worked for at least 6 years. The structural equation model was analyzed with Amos 25.0. The results show that virtual, servant, and transformational leadership influence employee creativity. Moreover, employee creativity strongly influences organizational innovation; therefore, a new model was found to meet the challenges during the COVID-19 pandemic crisis, which is leadership. Therefore, these results are useful for managers to overcome challenges during the COVID-19 pandemic crisis to manage employee creativity for a better innovative organization and make science a reference for finding solutions to the global wave of unemployment in the revolution 5.0 era.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.10
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• pp.373-383
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• 2021

This article aims to examine the one-way relationship between corporate social responsibility (CSR) and the financial performance of Vietnamese commercial banks, mainly focusing on the moderating role of ownership structure. Net interest margin (NIM), return on assets (ROA), and return on equity (ROE) are selected to represent the financial performance of the bank. CSR was measured using a multi-method approach that included both quantitative and qualitative methods. Corporate Social Responsibility Expenditure (CSRE) was estimated using financial data. The Corporate Social Responsibility Disclosure (CSRD) index was created using the content analysis method. Using a sample of Vietnamese commercial banks from 2012 to 2019 to perform regressions in the dynamic panel models with the two-step system generalized method of moments (GMM) estimator, the results show a positive effect of both CSRE and CSRD on the financial performance of the bank. Empirical evidence shows that the positive relationship between CSRE and financial performance is more robust in statecontrolled banks than non-state-controlled banks. In contrast, the positive impact of CSRD on the financial performance of state-owned commercial banks is weaker than that of private banks. Finally, the paper points out the limitations and proposes future research directions.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.10
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• pp.327-339
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• 2021

This study examines the impact of bank restructuring on the financial performance of commercial banks in Vietnam. The data for this study was obtained from the audited financial statements of 30 Vietnamese commercial banks from 2007 to 2019. Multiple regression analysis was used for investigation. Financial performance, as evaluated by ROAA, ROEA, and NIM, is the dependent variable. Financial restructuring, ownership restructuring, and operational restructuring are the independent variables. Pooled least squares (Pooled OLS), fixed effects model (FEM), random effects model (REM), and system generalized moment regression model (System GMM) are the estimate methods used to increase the accuracy of the regression coefficient. The research results show that the variables of financial restructuring activities such as government intervention and the ratio of equity to total assets; variables of ownership restructuring such as capital adequacy ratio, privatization of state-owned commercial banks, mergers, and acquisitions; variables of operational restructuring such as employees, branches, the cost to total assets; GDP variables and the second restructuring period have a positive impact on financial performance. Variables such as debt-to-capital ratio, bad debt ratio, state ownership ratio, expense-income ratio, and inflation have a negative effect on financial performance.