• The Journal of Asian Finance, Economics and Business
• /
• 제7권4호
• /
• pp.71-80
• /
• 2020

The paper examines the influence of corporate governance (CG) and earning quality (EQ) on corporate value (FV) of Vietnamese enterprises. The study uses GLS regression and linear structure model using data collected from companies listing on the stock market in Vietnam during 2008-2018, with a total of 2,937 observations. The research results indicate that EQ and CG represented by the Integrated Board of Directors and the Integrated Supervisory Board have a positive effect on FV directly and indirectly. The results show that the Integrated Board of Directors has a positive effect on EQ, whereas the Integrated Supervisory Board has a negative effect on EQ. Based on the research results, we suggest that companies need to strictly comply and implement GC, so to bring down the agency cost and consequently to increase performance. The companies also should establish the Board of Director of a proper size, with financial and accounting specialty, and including women board members. The government also needs to improve the management mechanism asking for firms to prepare and publish financial statements with reliable company information, which could be provided to users. These recommendations are a useful basis to help businesses improve FV via changes in the corporate governance factors in each enterprise.

• 한국경영과학회지
• /
• 제32권1호
• /
• pp.15-26
• /
• 2007

This study analyzes revenue-maximizing strategies of online auction sellers in terms of setting up starting bids and buy-it-now options. To this end, a series of field experiments is conducted where women's hair accessories of unique designs are listed in an established online auction site. The results of the experiments argue that high starting bids could increase sellers' revenue while buy-it-now options have no significant effects. Our findings suggest that online auction sellers listing items with uncertain demand - mainly individual sellers - should be cautious with auction tips which generally support low starting buds.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권11호
• /
• pp.67-73
• /
• 2020

The paper examines the influence of internal factors and external factors on liquidity of Vietnamese listed enterprises. The study uses robust regression techniques in the fixed effects linear panel data using data collected from companies listing on the stock market in Vietnam during 2008-2019, with a total of 6,700 observations. Liquidity of Vietnamese listed enterprises is measured by current assets to current liabilities, whereas firm size, capital adequacy, profitability, leverage are used as internal determinants. Further, economic activity, inflation rate, exchange rate, and interest rate are the external factors which are considered. The research results indicate that capital adequacy, return on equity, leverage, economic activity have a positive effect on firm's liquidity, whereas return on assets and exchange rate have a negative effect on firm's liquidity and firm size, inflation rate and lending rate have no correlation with firm's liquidity. Based on the research results, the author suggests that the firms should have optimum current ratio by balancing the current assets and current liabilities in order to avoid a situation of high liquidity or low liquidity. This research seeks to bridge a gap which is present in the body of literature on listed enterprise's liquidity in Vietnam. The findings may be useful for financial managers, investors, and financial management consultants.

• 한방안이비인후피부과학회지
• /
• 제22권3호
• /
• pp.47-62
• /
• 2009

Glenditsia spina (GS) can resolve carbuncle, relive swelling, dispel wind and destroy parasites. For these reasons, GS has been widely used as dermatologic agent clinically. In this study, the specific pathways of anti-proliferative effect of GS on human derived melanoma cells were identified. The molecular profile was measured using microarray technique to identify up- or down-regulated genes in SK-MEL-2 cell line. Pathway analysis was done by listing percentage of pathway involvement, and the represented pathways were obtained from KEGG. The transcription factor binding sequences were obtained by Transfac database. By the promoter analysis, up-regulated genes by GS were mainly associated with MAPK, Regulation of actin cytoskeleton, Wnt, Focal adhesion and Long term potentiation pathway. Down-regulated genes by GS were mainly associated with MAPK and Antigen processing and presentation pathway. And some of the transcription factors like Sp1 and NF-Y in up-regulated genes and Oct-1 in down-regulated genes by GS also identified.

• 대한지구과학교육학회지
• /
• 제9권1호
• /
• pp.65-87
• /
• 2016

The purpose of this study is to examine Korean journals related to science education in order to analyze research trends into Nature of science in Korea. The subject of the study is the level of Korean Citation Index (KCI-listed, KCI listing candidates), that can be searched by the key phrase, "Nature of science" in Korean language through the RISS service. In this study, the Descriptive Statistical Analysis Method is utilized to discover the number of research articles, classifying them by year and by journal. Also, the Sementic Network Analysis was conducted to Word Cloud Analysis the frequency of key words, Centrality Analysis, co-occurrence and Cluster Dendrogram Analysis throughout a variety of research articles. The results show that 91 research papers were published in 25 journals from 1991 to 2015. Specifically, the 2 major journals published more than 50% of the total papers. In relation to research fields., In addition, key phrases, such as 'Analysis', 'recognition', 'lessons', 'science textbook', 'History of Science' and 'influence' are the most frequently used among the research studies. Finally, there are small language networks that appear concurrently as below: [Nature of science - high school student - recognize], [Explicit - lesson - effect], [elementary school - science textbook - analysis]. Research topic have been gradually diversified. However, many studies still put their focus on analysis and research aspects, and there have been little research on the Teaching and learning methods.

• 한국게임학회 논문지
• /
• 제19권1호
• /
• pp.135-146
• /
• 2019

2018년부터 국제보건기구의 게임 장애의 국제 질병 코드(ICD-11) 등재 계획이 본격화하면서 세계적으로 학자들 간에 뜨거운 토론이 있었다. 하지만 대한민국은 등재의 부당함에 대한 학문적 근거 제시 없이 회피만 해온 것 같다. 본 논문에서는 게임 중독/장애와 관련한 과거의 학술 연구의 쟁점과 연구 오류 및 왜곡 사례들을 뇌 사진 판독과 게임 중독/이상 진단 도구의 적절성 등을 중심으로 짚어 본다. 본 분석은 게임의 과도한 사용이 게임의 질병 코드 등재의 충분 조건이 아니며 대다수의 건강한 게이머들에게 부당한 낙인을 찍어버릴 위험이 있음을 밝힌다.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권4호
• /
• pp.1079-1090
• /
• 2021

This study examines the influence of individual investors' sentiment on Japanese IPO aftermarket performance (measured by return and trading volume on the first trading day and return on the first trading year). This study proposes that IPOs will be, on average overpriced on the listing day when individual investors' sentiment is highly optimistic. Higher initial return and trading volume are expected in IPOs with higher investors' optimism. Further, the positive initial return will occur in the short term as individual investors usually are uninformed investors who demand shares based on their personal preferences, which will last only in a short period. Following the overvaluation hypothesis, price reversals should be predicted once the effect of individual investors' optimism has disappeared, causing the IPOs to underperform in the long term. Using 520 Japanese IPOs issued from January 2010 to December 2019, this study reveals that individual investors' sentiment is positively and significantly related to returns and trading volume on the first trading day. Return reversals are found on the first trading year despite the insignificant influence of individual investors' sentiment on IPO return on the first trading year.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권4호
• /
• pp.863-873
• /
• 2021

The purpose of this research is to examine the effect of family share ownership on the value of family companies and differences in the value of the firm - a family firm managed by family members and a family firm managed by non-family members. This research is also related to agency problems, namely share ownership and professional management can increase company value. This research uses the firm value as the dependent variable that is measured using Tobin's Q. Meanwhile the independent variable in this research is family ownership, and firm size is the control variable. The purposive sampling method was used to determine the sample for this research. The object of this research is 78 family companies listing on the Indonesian Stock Exchange in 2017. The hypothesis is tested by using multiple linear regression analysis which meets the analysis requirements test or classic assumption test. The results show that majority family ownership does not affect the value of the firm and there is no difference in the firm value of family firm led by family members and the firm value of family firm managed by non-family members.

• The Journal of Asian Finance, Economics and Business
• /
• 제9권3호
• /
• pp.275-283
• /
• 2022

This study aims to investigate the influence of internal factors on the bankruptcy risk of an enterprise through a sample of 439 companies listed on the Vietnamese stock exchange. The research collected secondary data from annual audited financial statements from 2008 to 2019 of listing companies. Using two different regression models with two dependent variables, six independent and control variables, we discovered that three of the model's six factors, namely return on total assets, current payment rate, and financial leverage, influence the risk of bankruptcy and account for 86.78% of the variations in firm bankruptcy risk. Financial leverage has the opposite effect on the Z-score index, increasing the risk of bankruptcy of listed firms. Return on total assets and current ratio have a positive impact on the Z-score index, reducing the risk of bankruptcy of listed companies. The findings also revealed that there is no evidence that the size of a corporation, its fixed asset investment ratio, or the size of an auditing firm have an impact on the Z-score index. These findings provide crucial evidence for business owners and managers, as well as shareholders making future capital investment decisions. Our findings can be applied to other businesses in Vietnam and similar jurisdictions.

• Journal of the Korean Data and Information Science Society
• /
• 제28권5호
• /
• pp.1109-1123
• /
• 2017

본 샘플은 2001년부터 2013년까지 유가증권시장 기업의 재무특성과 라이프사이클을 동시에 고려하여 현금보유수준과 현금한계가치 결정요인을 분석했다. 본 연구의 주요한 연구결과는 다음과 같다. 첫째, 유가증권기업의 평균현금보유수준은 총자산대비 5.12%로 2000년 초에 비해서 소폭 상승했지만 외국 선행연구에서처럼 대폭적인 현금증가는 관찰되지 않았다. 평균현금보유 추이는 금융위기 발발이후 2008년경 전반적으로 상승했으나, 지난 13년 동안 최종적인 현금보유는 0.76%포인터 증가에 불과했다. 둘째, 기업라이프사이클에 따라서 현금보유수준의 결정요인의 영향정도가 서로 다르고 그 중에서도 투자기회와 관련된 변수들이 차이를 나타냈다. 기업현금의 예비적 수요 및 거래적 수요는 모두 감소한 것으로 파악되었다. 셋째, 기업라이프사이클에 따라서 현금한계가치가 서로 다르게 평가되고, 전체적으로 선행연구에 비해서 한계가치가 현저히 낮게 산출되었다. 넷째, 이러한 증거들은 유가증권시장 기업들이 투자기회의 위축 등으로 현금을 축적하고자하는 유인이 감소했음을 시사한다.