• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.267-275
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• 2021

This study investigates the relationship between cultural distance and entry mode choice, where the foreign investor firm and the host country are both from emergent economies. Within this framework, research is limited and the issue is whether companies, regardless of their specific situations, have the same strategy when they meet a high degree of uncertainty in the host environment. In this study, we focused on the influence of informal institutional factors: cultural distance, that has been extensively analyzed in international business, measured by Kogut and Singh index and defined according to Hofstede, Globe Project and Schwartz approaches. The general trend derived from prior research proves that when a company from a developed country is involved; overall more enthusiasm is shown for wholly-owned subsidiaries rather than joint venture. This result still stands validated for corporations from this emergent economy area. Our analysis of a sample of 163 FDI in the Kingdom of Saudi Arabia (KSA) using logistic binary regression model reveals that the foreign firms prefer to establish wholly-owned subsidiaries in the host country over entering into a joint venture with a local firm, taking into consideration the large cultural distance.

• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.587-597
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• 2021

This study investigates the nexus among the South Asian economies. Effects of shocks in the equity market of one country on the equity market of the other country are examined. For empirical analysis, the time series monthly data is used for the period from February 2013 to August 2019. The study focuses on the four larger economies of the region, namely, India, Bangladesh, Pakistan, and Sri Lanka. To investigate for asymmetric effects of positive and negative shocks, EGARCH model is used. The findings show the mix nature of the spillovers between the various pairs of countries. The equity market of Pakistan has two-way spillover effects with the equity market of Bangladesh, but has no association with the equity markets of India and Sri Lanka. The volatility in the equity market of India significantly influences the volatility of the financial markets of Bangladesh and Sri Lanka. Similarly, the capital market of Sri Lanka has a negative association with the equity market of India as well as Bangladesh, but does not affect the equity market of any other country. These findings validate the argument in the literature that geographic location influences the nexus among equity markets. The findings are important for policy-makers and investors.

• The Journal of Asian Finance, Economics and Business
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• 제9권4호
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• pp.409-417
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• 2022

This research uses a panel data set of selected developed and emerging economies to investigate the relationship between firm value and the Islamic label. A low-debt company is a proxy for excellent governance, and good governance has a significant positive impact on a company's valuation. We can claim that the Islamic label may also be a proxy for excellent governance and will significantly impact a company's economic value because it reflects low debt Sharia-compliant companies. To explore this relationship, cross-country data from non-financial enterprises in Pakistan, the United States, Malaysia, and Indonesia was acquired from 2010 to 2015. The study's findings indicate that the Islamic label has a positive significant impact on the firm's worth in the whole sample, including all countries. With the exception of the United States, we have also collected the same information at the country level. We also discovered that the corporate governance index at the firm level has a positive significant impact on firm value. The findings show that the Islamic label reflects good governance and hence can be used as a proxy for good governance. The analysis differentiates between Islamic labeled and conventional enterprises in developed and emerging nations, adding to our understanding of who contributes to enhanced corporate financial performance.

• Asian Journal of Business Environment
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• 제12권3호
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• pp.13-22
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• 2022

Purpose: The research aims to analyze the export performance of processed seaweed, its competitiveness, and determinants on seven main destination countries. Research design, data and methodology: The study uses data of seven main destination countries of Indonesian processed seaweed from 2010 to 2019. For competitiveness analysis, the study uses Revealed Comparative Advantage, Export Product Dynamics, and X-Model of Potential Export Product. Results: The study reveals that the export performance has decreased on all five countries except for Japan and USA. The X-Model analysis shows that the market classification has increased or been stable in every country except for Germany and France. GDP per capita of each destination country and competitiveness index have positive and significance effect while other factors have negative and significance effect. Conclusions: In 2019, Indonesia's processed seaweed market in Japan, United States, and France are on potential market, while Singapore and Italy are on optimistic market. In the future, Indonesia's processed seaweed export can be focused more on countries that have a good market potential. To improve the export volume, GDP per capita of destination country, and competitiveness index of Indonesian processed seaweed should be higher, while export price, economic distance, and real exchange rate should be lower.

• The Journal of Asian Finance, Economics and Business
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• 제8권9호
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• pp.287-300
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• 2021

The study is conducted to find out the impact of the country- and corporate-level governance and firm internationalization on stock liquidity of 120 listed firms in Japan, Hong Kong, Pakistan, and India. Panel data is used in the current study. The annual time span covered in the current study is 10 years. The current study explores results based on secondary data. The findings of the 'robust panel corrected standard error' estimator shows that the internationalization strategy of firms positively influences the stock liquidity. The internationalization strategy of multinational corporations proves to be an effective methodology for improving stock liquidity in the home market as well as abroad. The study also shows that a stronger relationship exists between stock liquidity and internationalization in those countries where the regulatory settings are effective, the judiciary system is efficient and shareholders' rights are protected. Corporate governance and stock liquidity are negatively associated. The study also finds a negative relationship between country-level governance mechanisms and stock liquidity. Whereas the 'robust panel corrected error' estimator shows a positive association between corporate governance mechanisms and firm internationalization. The study depicts that effective corporate governance motivates multinational companies to expand their business abroad.

• Asian Journal of Business Environment
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• 제13권1호
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• pp.31-41
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• 2023

Purpose: This study purposes to analyze the determinants of the volume of Indonesian tuna exports. Research design, data and methodology: The framework was developed from the gravity model for trade, which was expanded with additional variables of competitiveness, exchange rate, and industrial share of the destination country. The data sources used in this study are UN Comtrade and the World Bank. The data used is yearly data from 12 countries in 2001-2019. The scope of the study is limited to exports to the twelve main export destinations. Panel data regression analysis is used to determine the factors that affect the volume of Indonesian tuna exports. Results: The results show that according to the theory, Indonesia's GDP has a positive effect and economic distance has a negative effect on the volume of the exports. Meanwhile, the GDPs of the destination countries are not proven to have a positive effect. However, the higher the industrial share in the country, the higher the export volume tends to be. Conclusions: The conclusion obtained from this study is that Indonesia's GDP, economic distance, real exchange rate, industrial GDP share of the destination country, and the RCA index affect the volume of Indonesian tuna exports.

• 한국수학교육학회지시리즈D:수학교육연구
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• 제26권3호
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• pp.235-252
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• 2023

We investigated the classification of learner groups for students' mathematical modeling competency and analyzed the characteristics in each profile group for each country and variable using PISA 2012 data from six countries. With a perspective on measuring sub-competency, we applied the latent profile analysis method to student achievement for mathematical modeling variables - Formulate, Employ, Interpret. The findings showed the presence of 4-6 profile groups, with the variables exhibiting high and low achievement within each profile group varying by country, and a hierarchical structure was observed in the profile group distribution in all countries, interestingly, the Formulate variable showed the largest difference between high-achieving and low-achieving profile groups. These results have significant implications. Comparison by country, variable, and profile group can provide valuable insights into understanding the various characteristics of students' mathematical modeling competency. The Formulate variable could serve as the most suitable predictor of a student's profile group and the score range of other variables. We suggest further studies to gain more detailed insights into mathematical modeling competency with different cultural contexts.

• 조명전기설비학회논문지
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• 제20권4호
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• pp.123-130
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• 2006

국내공항의 경우 전기설비의 중요도에 비해 이에 대한 설계기준이나 표준지침이 제대로 갖추어지지 않아 오늘날 공항의 건설, 공항시설의 확충, 증설시에 체계적이고 표준화된 수 배전설비를 갖추기 어려운 실정이다. 따라서, 본 논문에서는 국내공항을 Code화에 의한 4등급으로 분류하고 수 배전설비에 대한 정의 및 적용범위를 설정한 후 기존 공항의 수 배전설비에 대한 문제점을 분석하고 공항 수 배전설비 제어시스템 기준과 공항 등급별 3단계 방안을 제시하여 공항등급별 표준 단선 결선도를 작성한 다음 단선 결선도에 따른 공항 수 배전설비 시설기준을 제시한다.

• 대한전기학회:학술대회논문집
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• 대한전기학회 2005년도 춘계학술대회 논문집 전기설비전문위원
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• pp.45-50
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• 2005

Nowadays, economical and social environments are changing to the type of an advanced country for development of techniques in power industry. So most of workers are recently avoiding the 3D works and asking for safety of working environment, etc. in highly dangerous parts such as hot line working on distribution lines, especially. Therefore, most advanced countries are using the support-arm or robotic systems on distribution line works for securing the construction reliability, economical feasibility and protection of linemen from the electric shock and so forth. In special Japanese electric power companies are using the robotic system named manipulator. In Korea, a support-arm has been developed for safety and facility in live working on distribution lines but not widely supplied. In this paper we will introduce development cases of support arm and manipulator robot for live working on distribution lines.

• 유통과학연구
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• 제15권12호
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• pp.41-51
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• 2017

Purpose - This study proposes the impact of the US and Korean economic policy uncertainty on macroeconomy, and its effect on Korea. The economic policy uncertainty index of the US and Korea is used to represent the economic policy uncertainty on Korean economy. Research design, data, and methodology - In this paper, we collect the eight variables to find out the interrelationship among the US and Korean economic policy uncertainty index of the US and macroeconomic indicators during 1990 to 2016, and use Vector Error Correction Model. Result - The distribution industry stock index in Korea is influenced by the economic policy uncertainty index of the US rather than of Korea. All variables are related negatively to the economic policy uncertainty index of the US and Korea from Vector Error Correction Model. This study shows that the economic policy uncertainty index of the US and Korea has the dynamic relationships on the Korean economy. Conclusions - A higher economic policy uncertainty shows a greater economy recession of a country. Finally, the economic policy uncertainty of the Korea has an intensive impact on Korea economy. Particularly, the economic policy uncertainty of the US has a strong impact on distribution industry stock market in Korea.