• 유통과학연구
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• 제20권7호
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• pp.23-33
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• 2022

Purpose: Although foreign capital flows have played a vital role in fostering the economic growth in recipient countries, there are some concerns about the adverse impact of international capital flows on the banking stability. Hence, the study revisits this issue to explore the relationship between the different types of foreign investments and banking stability in ASEAN region. Research design, data and methodology: Based on the bank-level data of 96 commercial banks and country-level in six ASEAN countries from 2008 to 2019, we perform the multivariate regression analysis and provide a variety of robustness tests. Results: Our empirical evidence shows the volatility of foreign portfolio investments has significantly negative effect on the banking stability, besides that of foreign other investments has the similar influence but the result is relatively less pronounced in some robustness tests. Additionally, increasing trade cooperation and international distribution may lead countries to face higher risk of banking instability driven from these international investments. Meanwhile, the impact of foreign direct investments is positive, but the evidence is the least obvious. Conclusions: Our findings suggest policy-makers in ASEAN and emerging nations as a whole should carefully consider when building policies-related to mitigate the adverse impact of foreign capital flows.

• 한국축산식품학회지
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• 제42권1호
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• pp.98-110
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• 2022

Meat jerky is a type of meat snack with a long shelf life, light weight, and unique sensory properties. However, meat jerky requires a long manufacturing time, resulting in high energy consumption. In this study, beef jerky was prepared by injecting different concentrations of brine at different hot-air drying times (0-800 min). When the brine injection levels were increased to 30%, the drying characteristics of beef jerky, such as drying time and effective moisture diffusivity, were significantly improved owing to the relatively high water content and the formation of porous structures. The physicochemical properties (e.g. meat color, porosity, shear force, and volatile basic nitrogen) of the beef jerky injected with 30% brine were improved owing to the shortened drying time. Scanning electron microscopy images showed that the beef jerky structure became porous and irregular during the brine injection process. Our novel processing technique for manufacturing beef jerky leads to improved quality characteristics and shortened drying times.

• The Journal of Asian Finance, Economics and Business
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• 제9권8호
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• pp.145-155
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• 2022

Since 2014, the IFRS 9 has been the focus of the attention of many scholars across disciplines. The futuristic prediction of bank loan provision via a flexible ECL model has been observed as a game changer from the prior models offered in IAS 39. This study has two objectives; the first is to examine the impact on loan loss provisions (LLP), nonperforming loans (NPL), and the impairment loan losses (ILL) after the IFRS 9 in gulf banks. The second is to capture any variation in LLP, NPL, and ILL before and after IFRS9. The study used the two-way fixed effect model (TWFE) estimation and the DiD approach to attain its objectives. 54 gulf banks were selected from the periods between 2012 and 2020. The results indicate that LLP has significantly increased after the transition to IFRS 9, while the NPL has significantly decreased. The results did not capture a significant change in ILL after IFRS9 implementation. The results also indicate more consistency in LLP and NPL reporting after implementing the ECL model adopted in IFRS9. The study concluded that ECL model outcomes are in tandem with prior observation worldwide and pointed out some improvement opportunities for the future.

• The Journal of Asian Finance, Economics and Business
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• 제9권9호
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• pp.93-104
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• 2022

This study aims to investigate the factors that contribute to the sustainable development of 334 Vietnamese construction and real estate companies listed on the Stock Exchange of Vietnam over a 5-year period from 2016 to 2020. By using regression analysis with the support of STATA software through examining the financial statements, which involves looking into crucial ratios including capital structure, profitability, firm size, accounts receivable management, and tangible assets investment, this study sheds light on whether these accounting indicators could help predict the construction and real estate companies growing potential in the future. Nevertheless, these ratios slightly contribute to the explanation of the change in revenue growth ratio, with a result of 1.6%, indicating that the value relevance of accounting information provides a modest and insignificant effect on investment decisions. This is understandable because the Vietnamese construction and real estate market still has many shortcomings in handling unexpected events, as well as the industry's peculiarities related to major capital sources from bank loans. Based on this study, governmental authorities and business executives should plan appropriate risk management policies and measures to contribute to the sustainable development of construction and real estate companies.

• The Journal of Asian Finance, Economics and Business
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• 제9권2호
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• pp.325-333
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• 2022

Foreign direct investment (FDI) and export are now often regarded as two of the most important drivers of economic growth on a worldwide scale. The impact of foreign direct investment on Vietnam's exports is investigated in this study. The data for the time period 1985-2020 was obtained from the World Bank and the Vietnam General Statistics Office. The years 1985 to 2020 were chosen to evaluate the evolution of macroeconomic parameters since 1986. The impact of the Covid-19 epidemic on renovation reform. The Johansen co-integration test proved that FDI and domestic investment (DI) had a long-term positive impact on Vietnam's export growth. The Granger causality test revealed that there is a one-way relationship between FDI and export in the near term, but no such relationship exists between DI and export. The result of the variance decomposition study demonstrates that the FDI sector has a bigger impact on Vietnam's export growth than the DI sector. Furthermore, export activities are vulnerable to FDI sector shocks. As a result, in recent years, FDI has been regarded as the most important factor of export growth in Vietnam.

• The Journal of Asian Finance, Economics and Business
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• 제9권2호
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• pp.49-59
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• 2022

The relationship between income inequality and capital account openness is empirically investigated in this study, where macroeconomic variables have opposing effects. Panel data used in the study from the KAOPEN Index and World Bank consists of 28 Asian countries and has been examined; it contains annual observations from 1970 to 2018. The data is examined using a random-effect model based on GMM estimates. Income inequality and capital account openness are positively and significantly related, according to our findings. Overall, the findings imply that increasing income gaps reduced capital investment in nations with large discrepancies. The growing economic discrepancy is being caused by the rich's increasing income share at the expense of the poor. In Asia, inward capital account openness exacerbates income inequality, while outward capital account openness exacerbates it. As a result, income inequality slows economic growth, leading to inflation, unemployment, and increased government spending in several Asian countries. Our control factors, GDP, and other secondary school enrolments, all had a statistically significant negative relationship with income inequality. Income disparity has a positive and statistically significant association with government spending, inflation, population, trade openness, and unemployment. Income disparity has a negative association with capital account openness, gross domestic product, and secondary school enrollment.

• East Asian Economic Review
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• 제26권4호
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• pp.279-304
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• 2022

This paper quantitatively analyzes the current status of North Korean consumer payment instruments through a questionnaire survey of 292 North Korean defectors. In the 2010s, it was found that the payment experience ratio of domestic currency cash and grain decreased, while the payment experience ratio of foreign currency cash increased. The use of foreign currency reached a stage where it was spread not only as a store of value but also as a medium of exchange. However, the most frequently used payment instrument by North Korean consumers was still domestic currency cash. By region, in inland urban areas both domestic currency cash and U.S. dollars are used and in the North Korea-China border region both domestic currency cash and Chinese yuan are used, while in inland rural areas dollarization does not occur because both domestic currency cash and grain are used. Meanwhile, despite the stable price trend during 2013-2019, the dollarization hysteresis effect is appearing, and both the purchasing power risk theory and the network externality theory are considered to have explanatory power for the cause. The results of this paper suggest that as dollarization is intensifying, it is expected that more costs such as shortages of commodities will be incurred than in the past if North Korea's de-dollarization policy is reimplemented. Also, in the case of domestic currency cards, which the North Korean authorities introduced in 2015 as part of a means of financial reform, this paper suggests that it may continue to be difficult for domestic currency cards to normalize official finance under the dollarization hysteresis.

• 한국미생물·생명공학회지
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• 제51권1호
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• pp.69-82
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• 2023

Nitrilases are a hydrolase group of enzymes that catalyzes nitrile compounds and produce industrially important organic acids. The current objective is to optimize nitrilase production using statistical methods assisted with artificial intelligence (AI) tool from novel nitrile degrading isolate. A nitrile hydrolyzing bacteria Bacillus subtilis AGAB-2 (GenBank Ascension number- MW857547) was isolated from industrial effluent waste through an enrichment culture technique. The culture conditions were optimized by creating an orthogonal design with 7 variables to investigate the effect of the significant factors on nitrilase activity. On the basis of obtained data, an AI-driven support vector machine was used for the fitted regression, which yielded new sets of predicted responses with zero mean error and reduced root mean square error. The results of the above global optimization were regarded as the theoretical optimal function conditions. Nitrilase activity of 9832 ± 15.3 U/ml was obtained under optimized conditions, which is a 5.3-fold increase in compared to unoptimized (1822 ± 18.42 U/ml). The statistical optimization method involving Plackett Burman Design and Response surface methodology in combination with an AI tool created a better response prediction model with a significant improvement in enzyme production.

• 유통과학연구
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• 제21권4호
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• pp.69-80
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• 2023

Purpose: In the landscape of global challenges, the adoption of new technologies and the implementation of intellectual capital are seen as the main vehicles to enhance banking operations. Inspired by this issue, our study is to discover the effect of technological investments and intellectual capital on one of the most important dimensions of banking operations, namely deposit intermediation. Research design, data and methodology: To tackle this concern, we utilize the data of 12 banks from 2011 to 2020 in Vietnam, and perform the multivariate regression analysis as well as provide different robustness tests. Results: Our empirical analysis demonstrates that a surge in technological expenditures would foster distribution of deposit intermediation of banks. Also, the blend of technology spending and intellectual capital plays a key role in boosting this function of banks. Conclusions: The study would bring one of new evidence for bank managers and national authorities in Vietnam, where has undergone the completely reform period in banking system. Accordingly, technological innovation and intellectual capital should be taken into consideration when managers and regulators build business strategies and related policies. The findings are also useful for nations bearing a close resemblance to Vietnamese financial system.

• The Journal of Asian Finance, Economics and Business
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• 제9권5호
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• pp.19-27
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• 2022

The size of the government is one of the most fundamental debates of open economies. In any economy, government plays an important role, but a pertinent level of economic prosperity has never been obtained in history without government. Therefore, the objective of this paper investigates the association of government size, economic volatility, and institutional quality for 182 economies from the time period 1996-2016 is collected from the World Bank database. GE is defined as the General government's final consumption expenditure. Health expenditure is represented by HE. Government expenditure on education is denoted by EDUEXP. The economic volatility is measured by the rolling standard deviation of GDP per capita growth rate, Population growth, Trade openness, GINI represented Gini index which measures the degree to which the income distributed or consumption expenses among citizens deviates from a perfectly equal distribution. The results proposed that economic volatility has a significant effect on government size and institutional qualities. Moreover, the paper extends the investigation by finding the link between economic volatility with government health and education expenditure separately. The policy implication drawn from this analysis is that controlling economic volatility may reduce the size of government and also significantly affect health and education expenditures.