• The Journal of Asian Finance, Economics and Business
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• v.9 no.10
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• pp.105-113
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• 2022

The purpose of this paper is to analyze the relationship between the ratio of non-controlling shareholder interests (minority equity ratio, MER) and the measurement error in real activities manipulation (RM) proxy for Japanese firms. Many Japanese firms have practiced stakeholder-oriented corporate governance systems. Previous studies suggest that the higher the MER, the more Japanese businesses tend to employ management techniques for the group's sales growth while also reallocating resources inside the group to reduce principal-principal conflicts. Such differences in management strategies by firms could lead to measurement error in the RM proxy. The analysis uses 16,450 firm-years listed on the Tokyo Stock Exchange. The results of our analysis show that there is a positive relationship between MER and the RM proxy, and high persistence of RM proxies, suggesting that the RM proxies may contain measurement error. We also find that MER is correlated with variables associated with management strategy and that controlling for these variables can reduce the measurement error of RM proxy in firms with large MER. This study extends previous research on measurement error in RM proxy by relating them to ownership structure and corporate governance. This paper would contribute to researchers examining issues related to RM.

• Nuclear Engineering and Technology
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• v.55 no.9
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• pp.3417-3422
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• 2023

Recently, as the clinically positive biological effects of ultra-high dose rate (UHDR) radiation beams have been revealed, interest in flash radiation therapy has increased. Generally, FLASH preclinical experiments are performed using UHDR electron beams generated by linear accelerators. Real-time monitoring of UHDR beams is required to deliver the correct dose to a sample. However, it is difficult to use typical transmission-type ionization chambers for primary beam monitoring because there is no suitable electrometer capable of reading high pulsed currents, and collection efficiency is drastically reduced in pulsed radiation beams with ultra-high doses. In this study, a monitoring method using bremsstrahlung photons generated by irradiation devices and a water phantom was proposed. Charges collected in an ionization chamber located at the back of a water phantom were analyzed using the bremsstrahlung tail on electron depth dose curves obtained using radiochromic films. The dose conversion factor for converting a monitored charge into a delivered dose was determined analytically for the Advanced Markus® chamber and compared with experimentally determined values. It is anticipated that the method proposed in this study can be useful for monitoring sample doses in UHDR electron beam irradiation.

• The Journal of Asian Finance, Economics and Business
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• v.10 no.1
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• pp.181-187
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• 2023

The study aimed to study the effect of the inflation rate, the real domestic product, the interbank lending interest rate, and the total deposits on credit facilities in Jordan for 2012-2021 through quarterly data. The study adopted the ARDL model. The study used the time series analysis method, as the study tests the stationarity of the time series. The results showed that the impact of inflation on the total credit facilities was negative. In contrast, the impact of each of the total deposits, real GDP, and the interest rate of interbank loans on the total credit facilities was positive and significant. The study recommended the need for the banking sector in Jordan to develop risk management mechanisms in a way that allows it to adapt to economic cycles and crises by conducting stress tests and developing scenarios that ensure the formation of sufficient provisions to meet emergencies. The study also recommended that the macroeconomic policy should be based on creating a stable macroeconomic environment that allows the efficient employment of resources in all economic sectors in a way that achieves high economic growth rates, which contributes to the promotion of economic recovery and is reflected in income. Hence, individuals have a greater ability to repay loans.

• East Asian Journal of Business Economics (EAJBE)
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• v.12 no.2
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• pp.19-28
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• 2024

Purpose: In the era of global economic integration, China's doors of openness have widened, leading to increasingly frequent economic and trade exchanges between countries. Exchange rates, as a crucial economic lever for regulating foreign markets, play a vital role in the balanced development of a nation's international trade. Therefore, the relationship between exchange rate fluctuations and foreign trade has garnered widespread attention. Research design, data and methodology: This study utilizes import and export trade data between China and five ASEAN countries from 1998 to 2019. It employs regression analysis to examine the specific impact of the real effective exchange rate of the Renminbi on China's import and export trade with these ASEAN nations. Results: The empirical analysis yields the following conclusions: Firstly, the real effective exchange rate of the Renminbi exhibits a long-term stable relationship with China's import and export trade with the five ASEAN countries. Renminbi appreciation contributes to an increase in export trade volume but is detrimental to import trade. While this conclusion may deviate from classical trade theories, it aligns with the practical realities of China's foreign trade. Secondly, the coefficients before Gross Domestic Product (GDP) all display positive values, indicating that the growth of total economic demand has a stimulating effect on China's import and export trade.

• East Asian Economic Review
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• v.28 no.3
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• pp.277-314
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• 2024

This study analyzes the response of economic fundamentals to a misalignment shock of the real effective exchange rate in Korea. The estimation results of the equilibrium exchange rate determination model and time series model show that there is no significant difference in the direction of the deviation from equilibrium and that the won is significantly undervalued during the period before 1988, or during the currency and global financial crises. The cumulative impulse response analysis of the VAR model over the full period shows that an upward shock to the deviation from the equilibrium exchange rate reduces the GDP gap and inflation rate, while the effect on the call rate is not statistically significant. Furthermore, an upward misalignment shock initially worsens the goods and services balance, but the deficit in the goods and services balance shrinks significantly over time. In rolling regressions analysis, the entire sample is divided into two periods to estimate the impulse response function from the first period, and then the same procedure is repeated by moving the sample forward one by one. The cumulative impulse response results show that, as is the case for the full period, a positive exchange rate misalignment shock initially reduces the GDP gap, inflation, and worsens the goods and services balance, but the impact of this upward shock on these variables becomes increasingly weaker in the more recent sample. It also shows that the negative impact of upward shocks on the current account is smoothed out more recently during periods of undervaluation than during periods of overvaluation.

• Asia-Pacific Journal of Business
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• v.15 no.3
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• pp.309-323
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• 2024

Purpose - This study investigates whether firms engage in Real Earnings Management surrounding preliminary earnings announcements when experiencing a reversal of accounting earnings signs. Design/methodology/approach - We use ordinary least squares regression analysis to examine the association between the reversal of accounting earnings signs and three measures of REM(abnormal operating cash flows, abnormal discretionary expenses, and abnormal production costs). Findings - Our findings indicate that both profit-to-loss and loss-to-profit reversals are positively associated with all three measures of REM. This suggests that managers use various REM activities to mitigate negative consequences or enhance positive perceptions associated with earnings reversals. Research implications or Originality - This study provides new insights into the relationship between preliminary earnings announcements and REM by documenting that the reversal of accounting earnings signs is a significant determinant of managers' REM decisions. Our findings highlight the importance of scrutinizing REM activities surrounding preliminary earnings announcements, particularly when firms experience a reversal of accounting earnings signs.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.85-93
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• 2020

This study aimed to explore the impact of macroeconomic (Real GDP growth (GDPG), Inflation rate (INF)) and bank -specific variables (profitability (ROA), capital adequacy (CADEQ), non-performing loans (NPL), deposit growth (DEPG)) on the liquidity (lIQ) of 13 listed Jordanian commercial banks for the period 2011-2018. Panel data analysis, Pooled least square, fixed effects model and random effects model, Lagrange multiplier test, and Hausman test were used. The random effects model output shows that, macroeconomic variables have a significant impact on Jordanian commercial banks liquidity since inflation has a positive impact while GDPG has a negative impact on banks (LIQ). On the other hand among the bank-specific variables capital adequacy and deposit growth have a positive significant impact on banks (LIQ), while (NPL) and (SIZE) have a negative significant impact on Jordanian commercial banks liquidity. But ROA has a negative insignificant impact on (LIQ). The findings of the study suggest that commercial banks departments need to pay attention to the economic and internal variables of banks in order to maintain acceptable levels of liquidity.

• Journal of applied mathematics & informatics
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• v.38 no.1_2
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• pp.175-187
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• 2020

Recently Salkuyeh and Rahimian in (Comput. Math. Appl. 74 (2017) 2940-2949) proposed a modification of the generalized shift-splitting (MGSS) method for solving singular saddle point problems. In this paper, we present the spectral analysis of the MGSS preconditioner when it is applied to precondition the singular saddle point problems with the (1, 1) block being symmetric. Some eigenvalue bounds for the spectrum of the preconditioned matrix are given. We show that all the real eigenvalues of the preconditioned matrix are in a positive interval and all nonzero eigenvalues having nonzero imaginary part are contained in an intersection of two circles.

• Bulletin of the Korean Mathematical Society
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• v.47 no.3
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• pp.645-651
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• 2010

In this note we study positive solutions of the mth order rational difference equation $x_n=(a_0+\sum{{m\atop{i=1}}a_ix_{n-i}/(b_0+\sum{{m\atop{i=1}}b_ix_{n-i}$, where n = m,m+1,m+2, $\ldots$ and $x_0,\ldots,x_{m-1}$ > 0. We describe a sufficient condition on nonnegative real numbers $a_0,a_1,\ldots,a_m,b_0,b_1,\ldots,b_m$ under which every solution $x_n$ of the above equation tends to the limit $(A-b_0+\sqrt{(A-b_0)^2+4_{a_0}B}$/2B as $n{\rightarrow}{\infty}$, where $A=\sum{{m\atop{i=1}}\;a_i$ and $B=\sum{{m\atop{i=1}}\;b_i$.

• International Journal of Quality Innovation
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• v.10 no.2
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• pp.29-42
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• 2009

The issue of capacity constraint resources (CCR) or bottlenecks wandering in product mix decision by applying Theory of Constraints (TOC) management philosophy has been mentioned and demonstrated in several papers. In this study, the effect for prolonging the planning period (PPP) so as to stabilize the CCR is investigated. The results show that the effect for PPP alternative will be positive or negative which is depending on the environment condition. However, a majority cases which have positive effect for PPP alternative can be recognized prior knowing the marketing demand, which is significant in the real application.