• The Journal of Asian Finance, Economics and Business
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• v.8 no.11
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• pp.21-29
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• 2021

The objective of this study is to see how a country's level of democracy impacts the relationship between financial development and income disparity. We argue that political regimes, supported by their degree of democracy, are important for various decentralization theories to predict the impact of financial development on income inequality. Our study tests this argument using Vietnam time series data for the period 2000-2020 through the ARDL model. The financial development variable is represented by five proxies, the income inequality variable is represented by the GINI coefficient and the role of democracy is represented by the Freedom House Index. Data serving for the study is taken from data sources with high reliability. The results of the study have strong evidence that (1) financial development has a positive impact on income inequality, (2) democratic government will reduce national income inequality. (3) And a higher degree of democracy tends to mitigate the positive impact of financial development on income inequality. Thus, our study contributes to the literature by providing a new look at the mixed results regarding the relationship between financial development and theoretical income inequality. Finally, the article provides policy implications for the Government of Vietnam.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.7
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• pp.231-237
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• 2022

Intellectual Capital, a valuable intangible organizational asset, is primarily linked to a company's financial performance and is divided into three categories: human, structural, and relational capital. This paper investigates the impact of intellectual capital on the financial performance of selected Pakistani companies in the Information and Communication sector, as this sector is heavily reliant on intellectual capital. The data for 11 firms was gathered from the State Bank's Financial Statements Analysis of Companies Listed on the Pakistan Stock Exchange from 2015 to 2020. Pulić's (2004) Value Added Intellectual Coefficient (VAICTM) has been used to assess a company's IC efficiency. VAIC^TM and its components, the efficiency of intellectual capital, and the efficiency of capital employed are calculated. Financial performance is measured through return on assets, return on capital employed, and asset turnover ratio. Multiple regression, fixed-effect, and random-effect Panel Data estimation are used in the empirical study. The findings suggest that intellectual capital efficiency has a large impact on major profitability metrics, but little effect on company productivity. It can be inferred from the results that the companies must invest in advanced technology, the latest machinery, and well-equipped offices to improve financial performance and productivity and gain a competitive advantage.

• Journal of Distribution Science
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• v.22 no.3
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• pp.49-58
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• 2024

Purpose: Research on financial development plays a crucial role in guiding and implementing policies for both financial development and economic growth. This study aims to evaluate the impact of financial development on the economic growth of Southeast Asian countries. Research design, data and methodology: The research utilizes data from 11 Southeast Asian countries from 2015 to 2022. Financial development data is proxied by credit distribution in private sector. Results: Based on the analysis using the FGLS model, it indicates that financial development has a positive impact on the economic growth of Southeast Asian countries. In addition, the study also examines the impact of state investment costs and FDI investment on economic growth. The results also show that foreign direct investment flows still play an important role in Southeast Asian countries (FDI has a positive impact on economic growth). State investment costs also impact economic growth, showing that the development of public investment also brings good development to countries. Conclusions: These results suggest that credit policies for financial development in general, and the development of private credit in particular, play a significant role in these countries. Building a system to promote the activities of private sector economies will help stimulate the economic development of Southeast Asian countries.

• Journal of Information Processing Systems
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• v.15 no.6
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• pp.1306-1325
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• 2019

As the world is moving towards digitization, data is generated from various sources at a faster rate. It is getting humungous and is termed as big data. The financial sector is one domain which needs to leverage the big data being generated to identify financial risks, fraudulent activities, and so on. The design of predictive models for such financial big data is imperative for maintaining the health of the country's economics. Financial data has many features such as transaction history, repayment data, purchase data, investment data, and so on. The main problem in predictive algorithm is finding the right subset of representative features from which the predictive model can be constructed for a particular task. This paper proposes a correlation-based method using submodular optimization for selecting the optimum number of features and thereby, reducing the dimensions of the data for faster and better prediction. The important proposition is that the optimal feature subset should contain features having high correlation with the class label, but should not correlate with each other in the subset. Experiments are conducted to understand the effect of the various subsets on different classification algorithms for loan data. The IBM Bluemix BigData platform is used for experimentation along with the Spark notebook. The results indicate that the proposed approach achieves considerable accuracy with optimal subsets in significantly less execution time. The algorithm is also compared with the existing feature selection and extraction algorithms.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.169-180
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• 2021

The research aims to evaluate college students' financial behavior and provide empirical insight into factors that may influence their financial behavior by investigating whether financial socialization, financial experience, and financial literacy are meaningful for students' financial behavior. The surveys data was conducted with 595 college students from all over Indonesia then analyzed using Structural Equation Model (SEM). The results demonstrate that financial socialization positively influences financial literacy and financial behavior. On the other hand, financial experience has a negative influence on financial literacy, yet a positive one on financial behavior. Furthermore, the result also shows financial socialization are the key determinant of financial literacy and financial literacy is vital and plays an essential role for financial behavior and it may derive from financial socialization and financial literacy. It indicates that the influence of social agents can benefit students in improving their financial literacy and behavior. However, experience also can influence their financial behaviors. The lack of experience of college students leads to inadequate financial knowledge and raises their risk of financial decisions. Students with sufficient financial knowledge and exhibiting good financial behavior can make wise decisions in financial planning and management, thus may prevent financial issues in the future.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.11
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• pp.97-106
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• 2021

The condition of financial services in Indonesia is unique, based on various characteristics, behaviors, and preferences. Therefore, the study of finance and banking is interesting to study as a recommendation for government policies. This paper aims to analyze the barriers to accessing formal financial services in Indonesia and why informal financial services are preferred. This paper presents a case study of financial inclusion in selected provinces in Indonesia using the SOFIA dataset from the Ministry of National Development Planning. Overall, this data consists of 20,000 individuals from 4 provinces and 93 regions representing the population in eastern Indonesia. The analysis was carried out by processing individual-level cross-sectional data surveyed in 2017 using the probit binary logistic method. The results identify the individual barriers in accessing formal financial services, including account ownership, saving, and credit activities in the formal financial institutions, and amplify the image by analyzing what determinants affect people to choose informal institutions. We found that some individual characteristics such as age, gender, education, income, employment status, residence, and access to technology significantly affect the barrier to formal financial services in East Indonesia.

• Journal of Distribution Science
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• v.20 no.10
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• pp.61-66
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• 2022

Purpose: Predicting the financial distress distribution of an enterprise is important to warn enterprises about their future. Predicting the possibility of financial distress helps companies have action plans to avoid the possibility of bankruptcy. In this study, the author conducted a forecast of the financial distress distribution of enterprises. Research design, data and methodology: The forecasting method is based on Logit and Discriminant analysis models. The data was collected from companies listed on Vietnam Stock Exchange from 2012 to 2020. In which there are both companies suffer from financial distress and non-financial distress. Results: The forecast analysis results show that the Logistic model has better predictability than the Discriminant analysis model. At the same time, the results also indicate three main factors affecting the financial distress of enterprises at all three research stages: (1) Liquidity, (2) Interest payment, and (3) firm size. In addition, at each stage, the impact of factors on financial distress differs. Conclusions: From the results of this study, the author also made several recommendations to help companies better control company operations to avoid falling into financial distress. Adjustments to current assets, debt, and company expansion considerations are the most important factors for companies.

• Journal of the Korean Home Economics Association
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• v.35 no.6
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• pp.157-171
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• 1997

The purpose of this study was (1) to assess the level of financial management and financial goal attainment on housing purchase and children's educational expenditure, (2) to identify individual, family and environment variables which influence financial goal attainment, and (3) to investigate causal relation of variables which affect financial goal attainment. Data were collected from questionnaire with 772 married women who were residents of Jeonju. The major finding were as follows; (1) The levels of financial management and financial goal attainment on housing purchase and children's educational expenditure were middle. (2) The variables which exerted direct effects on financial goal attainment on housing purchase were time orientation of consumption life, asset, income stability, easiness in extending credit, financial planning, and financial implementing. the most powerful predictor of financial goal attainment on housing purchase was asset. (30 The variables which exerted direct effects on financial goal attainment on children's educational expenditure were time orientation of consumption life, asset, children's presence on the camp8us, easiness I extending credit, financial planning, and financial implementing. The most powerful predictor of financial goal attainment on children's educational expenditure was financial planning.

• Journal of Families and Better Life
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• v.11 no.2
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• pp.69-82
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• 1993

Financial stability of households is the basic and most important factor of the quality of life. It affects emotional psychological mental and social aspects of family personal develop-ment and family healths etc. This study investigated and analyzed the data on financial stability of households. The data collected through the self-administered questionnaire from 466 house-holds in Kwangju area were analyzed. As statistical methods Frequency Percentile. Anova Duncan-test and Regression analysis were used. The results obtained are as follow: Education job status housing tenure type numbers of income source assets income and income flexibility have positive effects on financial stability. Especially numbers of income sources has most important effect. Significant correlation coefficients between financial stability and economic pressures mental healths financial satisfaction life satisfaction and coping behaviors were revealed respectively To improve the quality of life financial stability of household is severely considered. To be financially stable providing various income sources is more desirable than having regular and fixed income.

• Asian Journal of Innovation and Policy
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• v.4 no.1
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• pp.76-102
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• 2015

Drawing upon the resource-based-view of a firm, we investigate the moderating role of operations efficiency on the link between environmental and financial performance. Extant literature has highlighted that operations efficiency is closely associated with the environmental/financial performance of firms, but no empirical study has investigated how operations efficiency affects the link between environmental and financial performance. We argue that operations efficiency could act as a moderator of this relationship. To test the hypothesized relationships, we have used available secondary quantitative UK data, namely data on the environmental/financial performance of Britain's most admired companies. By employing moderated regression analysis, we have found strong evidence for the moderating impact of operations efficiency. Our results are useful to managers in that they show that improvements in operations efficiency in a company can also help improve environmental/financial performance and vice versa.