• 대한가정학회지
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• 제41권4호
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• pp.143-155
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• 2003

This study presents the institutional households as an object of research from german society, discussing their social necessity and development scheme. The results of the study will be useful informations for systematic researchs according to institutional household in South Korea. In recent years, the social functions of the institutional household have become an important issue in South Korea. In this respect, the requirements of customers, and other interested parties with regard to these institutions have changed, which results in a different general framework for the management of these institutions. For this reason, courses in the Economics of the Institutional Household were established as part of the Department of Private Household at some universities in South Korea. In order to assure the continuous development of the research on Economics of Institutional Household theoretical and practical support from different arise is required. In particular, three issues aries here: 1. the structure of the curriculum and the possibilities for its development in universities, 2. interdisciplinary research on the Economics of the Institutional Households in cooperation with other departments, 3. continuing cooperation between institutions and universities.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.21-32
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• 2021

This paper aims to investigate the relationship between country-level institutional quality and public debt in the context of Pakistan. The hypotheses of this study were assessed by using the country-level institutional quality data for Pakistan throughout the years from 1996 to 2018. Data came from the World Databank, IMF and Worldwide Governance Indicators databases. For the analysis, ordinary least square, quantile regression and robust regression were employed to assess the factors influencing the public debt. The results of this study indicate that the factors of voice and accountability, regulatory quality, and control of corruption have a positive and significant relationship with public debt, while political stability, government effectiveness, and the rule of law have a negative and significant effect on public debt. Based on the findings, a weak country-level institutional quality poses a substantial market risk as it signals the existence of an unfavorable economic condition that raises public debt. It was also revealed that an improved performance of country-level institutional quality can lead to the improvement of financial market transparency, hence reduce public debt. In contrast to previous studies, the present study will be breaking ground in enhancing public insight regarding the impact of country-level institutional quality on Pakistan's public debt.

• The Journal of Asian Finance, Economics and Business
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• 제7권7호
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• pp.199-208
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• 2020

This study investigates the direct and indirect effects, mediated by audit committee quality, of managerial ownership, institutional ownership, and profitability on intellectual capital (IC) disclosure. The object observed of this study is companies listed on the Indonesia Stock Exchange (IDX) in the 2014-2018 period that are classified as high intellectual capital-intensive industries. Based on the sampling method, purposive sampling, 51 companies were selected as samples. This study used path analysis techniques with IBM SPSS version 25 to study the direct and indirect influences of managerial ownership, institutional ownership, and profitability toward IC disclosure. The results of this study show that managerial ownership, profitability and audit committee quality have a significant positive effect on IC disclosure whereas institutional ownership has significant negative effect on IC disclosure. This study also provides empirical evidence, supported by the sobel test, that the audit committee quality is able to mediate the effect of institutional ownership and profitability on IC disclosure. However, the audit committee quality is not able to mediate the effect of managerial ownership on IC disclosure. These findings develop and strengthen the results of prior studies related to the implementation of signaling theory and agency theory in devoting more understanding about IC disclosure.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.201-211
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• 2021

This study aims to analyze the determinants of macroeconomic and institutional stability on the development of the global sukuk market by controlling the effects of population. This study uses panel data namely GDP per-capita, exchange rate, and inflation as the proxies for macroeconomic stability sourced from the World Development Index, and six dimensions of Worldwide Governance Indicators (WGI) as institutional proxies sourced from WGI-World Bank. To make robust the relationship between macroeconomics and institutional on the global sukuk market, the population (POP) variable was included as a control variable. The development of sukuk uses a proxy for sukuk issuance in the International Islamic Financial Market, for the annual period from 2002-2017. The data was analyzed using the General Method of Moment, and the results show that by controlling the population effects that proved to be significant, GDP per-capita and the rule of law have a significant impact on the development of sukuk, especially when incorporating population effects as control variables, whereby further ascertaining the effect of each macroeconomic-stability variable and institutional stability on sukuk development, especially inflation, found not to affect sukuk development. These results also confirm the previous findings, whereby inflation remains controllable at a certain level for economic development.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.217-227
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• 2021

This study aims to examine the effect of institutional ownership, independent board of commissioners, audit committee, and profitability (RNOA) on tax avoidance in banking companies listed on the Indonesia Stock Exchange over the 2014-2018 period. The sampling method employed in this study was the cluster sampling method. The population was all banking companies listed on the Indonesia Stock Exchange for the period 2014-2018. The sample selection results using the purposive sampling method during the observation includes 209 companies that published complete annual reports and their financial report notes as of December 31, 2018. The results revealed that institutional ownership and independent board of commissioners did not affect profitability. Profitability also did not affect tax avoidance. Further findings showed that institutional ownership and audit committee positively affect tax avoidance. From the result of Sobel test, this study indicated that profitability cannot mediate the effect of institutional ownership, independent board of commissioners, and audit committee on tax avoidance. This study has succeeded in proving empirically that there was a significant effect of the audit committee on profitability, institutional ownership on tax avoidance, and the audit committee on tax avoidance. Therefore, this study supports the agency theory and the research model from previous studies.

• 기술혁신연구
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• 제13권1호
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• pp.91-111
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• 2005

This paper aims to make a brief survey of the main concepts and theoretical frameworks proposed by Comparative Institutional Analysis. The main concepts to be discussed are 'institutional complementarity', 'diversity', 'system' and 'institutional hierarchy'. This paper also analyzes the recent evolution of U.S national innovation system using these concepts.

• 대한가정학회지
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• 제36권6호
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• pp.109-122
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• 1998

This is succeeding Study of 'A Study on the Basic Framework and Program Development for Establishment of Institutional Household Manager System -Focused on the Curriculum'. This study focused on the needs analysis of manager and user of institutional household. Data were collected by individual interview, from 47 managers and 84 users of institutional household in Seoul, Pusan & Kyungnam, Taegu & Kyungbuk province. The results were as follows; there were differences in the demands of manager and user of institutional household management, manager's needs of Institutional Household Manager lower than user, the manager of Domitory. Training Institute showed higher than Nursery School and Public Welfare Facilities.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.11-19
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• 2021

The paper examines the nexus between economic globalization, financial development and institutional reform in India and Sri Lanka during the period 1990-2017. Using the panel ARDL method, the study finds the long-run relationship between financial development, economic globalization, and institutional reforms. From the short-run equation, the study finds the negative and statistically significant impact of economic globalization on financial development in India whereas Sri Lanka has a positive impact of institutional quality on financial development. Then, the study finds no short-run causality between financial development, economic globalization and institutional reforms. However, the study finds bi-direction strong causality between economic globalization and financial development. Further, the study finds uni-directional strong causality from institutional quality to financial development and economic globalization. Moreover, there is an existence of long-run causality between financial development, economic globalization and institutional quality. For the robustness of the results, the study considers the financial market as a proxy for financial development. Then, the study applies the panel ARDL test and find the consistency in the results. The policymakers in India and Sri Lanka should focus on institutional reforms so that it can reap the benefit of economic globalization. In turn, the quality of institutional reforms can thereby lead to financial development.

• The Journal of Asian Finance, Economics and Business
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• 제8권8호
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• pp.335-343
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• 2021

This paper investigates the effect of institutional quality on FDI inflows by using FDI outflows from Asian countries from 2009 to 2017. We used the FDI data from five major Asian economies, which are South Korea, China, Japan, Singapore, and Hong Kong. The gravity model was used to examine the effect of institutional quality on FDI flows. The regression model considers several independent variables, and we select the most appropriate variables by using the Bayesian Model Averaging (BMA) estimator. We have shown that foreign direct investment from Asian countries depends on the size of home and the partner countries, geographical distance, trade interaction between two countries, economic freedom, labor supply, tariff rate, and capacity of the government. The results of different estimation techniques emphasize that multinational enterprises prefer to invest in those countries which have a higher income, which shows the evidence for Lucas's paradox. The results also show that economic freedom and control of corruption have a positive impact on FDI inwards. The regression results show that better institutional quality in host countries encourages more FDIs from Asian economies. It suggests that the state should control corruption and create a free economic environment to attract FDIs.

• 동아시아경상학회지
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• 제1권1호
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• pp.8-16
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• 2013

Purpose: The objective of this paper is to identify and assess the contribution of budgetary, monetary and institutional shocks affecting the Tunisian economy over the period 1976-2003. The methodology used is vector autoregressive models and structural recent techniques for the analysis of time series related. The empirical results show a significant relationship between the supply shock and institutions on the one hand, and between institutional shocks and economic activity on the other hand. Research Design, Data and Methodology: As part of this section we will try to identify and assess the contribution of various shocks to macroeconomic variables' fluctuations for the Tunisian economy. The study period is: 1976-2003 and observations are annual. Results: The real business cycle theory argues that fluctuations in aggregate economic activity are the result of the interaction of the only real factors namely agents' preferences, technological opportunities, factor endowments and possibly certain institutional constraints. Conclusions: The lowest contribution to the variability of these rights is the monetary shock. As for "civil liberties", the largest share of their variability is the shock relating to the "political rights" during the first four periods .