• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.73-84
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• 2020

Existing studies disagree over the core predictors of firm-level financial choices in developing countries. The general practice only validates the traditional capital structure model, which leads to inconsistency and a lack of novelty. This study removed overfitting issues among existing factors and presented the most reliable and advanced capital structure model in Pakistani firms. The panel data include 368 Pakistani companies from 19 non-financial sectors over the period 2004 to 2017. We apply Akaike and Bayesian Information Criteria to remove overfitting issues among inconsistent proxies in the capital structure model. The fixed effects regression is used for basic results and the Generalized Method of Moments is applied to control the endogeneity. Besides the conventional proxies, we report that credit rating, distance from bankruptcy, managerial concentration, and institutional quality are the most advanced capital structure determinants in Pakistan. These predictors remain significant across firm size and growth levels. Also, the findings confirm that new predictors are reliable to define capital structure dynamics and improve the speed of adjustment in overall and sub-sample analysis. The major findings suggest that managers and policymakers should consider these advanced predictors to design their financial settings in firms.

• Environmental and Resource Economics Review
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• v.17 no.4
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• pp.751-774
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• 2008

In this paper, we examine the institutional prices differences in the electricity and natural gas industries using unbalanced panel data from 1999 to 2001. The changing market structures following deregulation in both markets allow us to examine the institutional prices differences by ownership type, market structure and merger activities. Estimating the reduced form, after controlling both intrinsic characteristic (marginal costs) and external factors (demand), allows us to identify the extent to which specific factors are correlated with the price. Furthermore it allows us to identify systematic institutional price differences in both electricity and natural gas markets. Our estimation results suggest that the private firms in electricity markets are associated with higher prices than public firms after controlling for demand and cost. We further find that dual-product firms in the natural gas industry and the electricity industry are associated with lower rates than single product firms. These results provide a weak evidence of economies of scope in the dual-product firms. Our results finally suggest that merger activities in natural gas markets are associated with higher rates.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.629-635
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• 2021

This study seeks to examine and analyze the influence of institutional strengthening factors, and capacity building - communication, resources, and training - on the performance of defense policy implementation. This study conducted a quantitative analysis related to the implementation of the institutional strengthening policy. The data used are primary data with a research instrument in the form of a questionnaire. The population in this study were all people in the city of Bandung, Indonesia. The sample of this study consisted of 200 respondents consisting of civilians and soldiers who served in the city of Bandung. Data analysis uses the Structural Equation Model (SEM) measurement model. The results of this study reveals that institutional strengthening (X1) influences positively and significantly capacity building's communication (Y1), resources (Y2), and training (Y3). On the other hand, the performance of defense policy implementation (Y4) is positively and significantly affected by capacity building's communication (Y1), resources (Y2), and training (Y3). The interaction between institutions, consumption support, role of the healthcare sector, and effectiveness are the most important indicators reflecting capacity building (communication, resources, training) and the performance of defense policy implementation. Essentially, this study analyzes the performance of defense policy implementation based on capacity building.

• Journal of Korean Home Economics Education Association
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• v.9 no.2
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• pp.31-45
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• 1997

The theoretical rationale and basic materials for the improvement of the recognition on home economics teachers are suggested in this study through the close examination of the teacher’s recognition and its related variables. For this study, review of literature and questionnaire survey were performed. As the results, the following may be suggested. 1. There teachers more experienced and non-majored the home economics or those who finished professional course should be reeducated adequately for new direction of home economics education in secondary school and new curriculum. 2. The development of qualification for home economics teacher and the educational system and program for training preliminary should be try to find a solution to improve the new and positive recognition of home economics education in secondary school. 3. The institutional and environmental conditions, such as pay and welfare facilities, should be improved to satisfy home economics teacher with new view of home economics education in secondary school with their duties. 4. The systematic and concrete teaching programs for contents of improving new recognition of home economics education in secondary school, and for promoting positive self-recognition as home economics teacher, and for training the abilities of developing teaching materials and guiding practical techniques should be developed.

• Journal of the Korean Home Economics Association
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• v.44 no.5 s.219
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• pp.89-98
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• 2006

The purpose of this study is to seek for a direction of child-care development through the basic concepts of home economics which have taken charge of much parts of the studies in child-care in the early years. When the problem of child-care is studied in view of the developmental process or the basic concepts of home economics, it is summed up as follows; First, on the basis of human ecological approach, when we study child-care, it needs to emphasize the mutual relationship between the macro-environment in connection with home and child-care. The study of child-care have to find out the relationship between the micro-environment in connection with children and the macro-environment in connection with home. And on the basis of this study, we must endeavor to build up the desirable environment of child-care. Second, on the basis of the concept of Institutional household, we mud be concerned about the developmental stages of young children, and emphasize 'the principle of love and care'. This means that the institution of child-care must be considered as a place which enlarges the merits of home and complements the defects of home through the strengthener of the function of home. Third, on the basis of healthy family, child-care service must support and complement the function of bringing of home in view of 'total healthiness of home'. Child-care service must be offered to be able to be chosen according to the total conditions of family such as the employment of mother, the family life cycle, the life style, the socioeconomic status of family.

• Journal of the Korean Home Economics Association
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• v.33 no.5
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• pp.153-166
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• 1995

The Purpose of this study is to investigate the father's role of childrearing appeared in Korean central daily newspapers. The method used for this study is the content analysis of the articles related with childrearing in Dong-a ilbo and Cho-seun ilbo from 1920's to 1970's. It is found that the articles dealt with childrearing were concerned on childrearing practices conformable with social change for industrial capitalization during twentieth century of Korea. These articles dealt with problems of practices in nurturing, teaching, diciplining and interfacing between home and institutional education of school. It is found that the father's role of childrearing were gender-nonspecipic.

• Journal of Technology Innovation
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• v.9 no.2
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• pp.34-55
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• 2001

With increasing globalization, a proper policy for global inter-city networking strongly required, which presumes the study on the heterogeneity among regional innovation systems. While surveying the research results of the Evolutionary Economics, 1 stress that regional systems of innovation differ in technological capacities, industrial structures, institutional arrangements and socio-cultural features. 1 make the empirical investigation based on the data of Busan and Hamburg, making clear the regional specificities among regional innovation systems. The results show that regional systems of innovation in Busan and Hamburg are quitely asymmetric. They suggest also the limitation of neo-classical assumption on the ‘homogeneous production function’ and that policy-makers in regions should make the policy for ‘global inter-cities networking’, based on perspectives of regional heterogeneity.

• Human Ecology Research
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• v.58 no.1
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• pp.87-103
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• 2020

This study discusses the institutional change of Chinese early childhood education quality assurance institution (ECEQAI) from the three dimensions of the perspective of historical institutionalism of that refer to the external environment, dynamic mechanism containing with nation-market-society, and the invisible ideology of the institutional change. Chinese ECEQAI was divided into five historical periods, which were 17 years after the founding of China (1949-1966), the Great Cultural Revolution (GCR) period (1966-1976), the early stage of Reform and Opening-up (RO) (1976-1995), the social change period (1995-2010) and the new period (2010-now). This study also concludes five separate change models for Chinese ECEQAI that correspond to the five periods. The first was a compulsory and gradual institutional change model influenced by the Soviet model and dominated by national power. The second was compulsory and radical change model controlled by the counter-revolutionary group. The third was a compulsory and gradual institutional change model dominated by national power. The fourth was induced and gradual^① institutional change model driven by market power and forced by society power. The fifth was a compulsory and gradual institutional change model led by national power and forced by society power. Finally, the future change direction of China's ECEQAI was further pointed out, that was the government-leading and tend to balanced three-pole power model of "Nation-Market-Society", as well as the "three-pole power relationship" of indepth communication and positive interaction.

• Journal of Technology Innovation
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• v.14 no.3
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• pp.117-154
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• 2006

This research examines performance evaluatees' opinions regarding the current institutional performance evaluation systems of Government S&T Research Institutes (GRIs). Under the current evaluation systems, twenty GRIs are grouped into three Research Groups and each Group has its own evaluation systems. One problem of the current institutional evaluation systems is that the systems cannot reflect individual GRIs' characteristics. The following methods are used. First, based on four perspectives of Kaplan & Norton(1992)'s Balanced Scorecard(BSC) model, six perspectives appropriate to GRUs' characteristics are derived. Second, experts classify current performance evaluation measures into the six perspectives. This enables different evaluation systems of three GRI Research Groups to be compared under the same evaluation measures. Third, GRIs' evaluatees are asked to allocate appropriate weights on the performance measures. Evaluatees' weights of a GRI are compared with average weights of the related Group. Finally in every BSC's perspective, GRIs that have extraordinarily over-scored or under-scored weights are analyzed in terms of GRIs' missions, customers, capability of human resources, etc. In the Basic Research Group, the Korea Basic Science Institute is deviated in the financial perspective and the strategic direction perspectives. In the Public Research Group, Korea Institute of Construction Technology is significantly different from other GRIs in three perspectives. Five out of eight GRIs in the Industrial Research Group, GRIs are significantly different each other in several perspectives. It could be concluded that the current institutional evaluation systems are least appropriate in measuring performance of the GRIs of the Industrial Research Group.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.317-328
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• 2021

This study aims to determine the factors that affect dividends initiation by initial public offering firms in Malaysia. The ownership structure is examined from a corporate governance theoretical perspective in order to evaluate the impacts of managerial, institutional, and family ownership on the dividend's initiation decision of IPO firms. This study employs a quantitative pooled cross-section of 372 Malaysian IPO companies active during the period of 2002-2013. The number of firms that went public each year varies, thus the pooled cross-section data takes place in this case rather than the panel data. The logistic model was employed to test the proposed hypotheses. The results revealed that the presence of institutional investors in the ownership structure make it more likely for IPO firms to initiate dividends. On the contrary, the presence of a family ownership structure in IPO companies as the controlling shareholder makes these companies less probable to initiate dividends. Managerial ownership was found to have no effect on the decision of initiating dividends by IPO firms. The findings of this study suggest that the existence of institutional and family ownerships are agency cost mitigators, as these ownership types could prompt IPOs firms to initiate dividends to overcome the agency conflicts.