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Macro-Economic Factors Affecting the Vietnam Stock Price Index: An Application of the ARDL Model

  • DAO, Hoang Tuan;VU, Le Hang;PHAM, Thanh Lam;NGUYEN, Kim Trang
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.5
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    • pp.285-294
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    • 2022
  • Using the ARDL approach, this study examined the impact of macro factors on Vietnam's stock market in the short and long run from 2010 to 2021. The State Bank of Vietnam and the International Monetary Fund provided time series data for this study. Research results show that in the long run, money supply and exchange rate respectively affect the stock market. The money supply had a positive effect on the VN-Index, while the exchange rate showed the opposite effect. However, the study did not find a relationship between world oil price and interest rates on VN-Index in the long run. On the other hand, in the short term, there are relationships between variables; specifically, interest rates and exchange rates have a negative impact on the VN-Index, while the world oil price and the fluctuation of money supply M2 of the previous one and two months showed an impact in the same direction on this index. The differences in the regression results on the impact of exchange rate and oil price on the VN-Index compared to previous studies come from the characteristics of Vietnam's stock market, with the large capitalization of companies in the oil and gas sector, and the structure of Vietnam's economy with export heavily depends on FDI sector.

Students and Money Management Behavior of a Malaysian Public University

  • ZULFARIS, Mohd Danial;MUSTAFA, Hasri;MAHUSSIN, Norlida;ALAM, Md. Kausar;DAUD, Zaidi Mat
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.3
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    • pp.245-251
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    • 2020
  • This study aims to investigate whether financial literacy, parental socialization, peer influence and self-control have a significant impact on money management among students of a Malaysian public university. In most settings, the studies on the determinants of personal saving behavior among university students focus on personality factors, attitudes toward money and possessions, and financial knowledge as predictors of money management behavior. Primary data are collected using a self-administered questionnaire with the samples comprised 186 students. The findings show that all the financial literacy and parent socialization have a positive relationship with money management; meanwhile, peer influences and self-control have a negative relationship with money management. This is because the majority of students admit they cannot control their self in managing their money. In this study, parent socialization has a significant relationship with money management which signifies that parents are playing essential roles in ensuring their children to establish money management. In practical, this study can contribute to the parents in providing their children to foster sound money management. Besides, Perbadanan Tabung Pendidikan Tinggi Nasional (National Higher Education Fund Corporation) PTPTN should monitor the loan, and management process and arrange motivational program so that students can more focus on the educational expense.

A Study on the Open Access Policy of Scholarly Journals Publishing Research Papers Funded by Korean Government (공공연구기금 논문성과물 게재 학술지의 오픈액세스 정책에 대한 연구)

  • Min, Yoonkyung;Cha, Mikyeong
    • Journal of the Korean Society for information Management
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    • v.34 no.1
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    • pp.155-176
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    • 2017
  • This study analyzes the open access policies of major scholarly journals that have large number of publicly funded articles, for the purposes of expanding and facilitating the public access. Eighteen scholarly journals in Korea and abroad were selected based on the number of published publicly funded articles through a survey of dissemination of publicly funded journal articles via information from NTIS. The open access policies of the selected journals were analyzed by 5 categories including codification of OA related policy, copyrights, reuse rights, self archiving policy, free access. As a result, this research proposed several considerations for establishing national policies for the collection and distribution of the publicly funded research products.

Tasks for the Separation of Prescribing and Dispensing medicinal herbs in Traditional Korean Medicine (한의약분업과 관련된 여러 가지 문제)

  • Lee, Hai-Woong;Kim, Hoon;Kim, Gyeong-Cheol;Kim, Jong-Hwan;Shin, Woo-Jin;Park, Dong-Il;Hwang, Won-Duk
    • Journal of Korean Medical classics
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    • v.23 no.1
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    • pp.133-142
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    • 2010
  • Preconditions for the separation of prescribing and dispensing medicinal herbs in Traditional Korean Medicine are classification of medicinal herbs for general public and special medical uses, establishment of national medicinal herb distribution company of governmental base, restriction in purchase of medicinal herbs for special medical use, partnership between doctors and pharmacists of Traditional Korean Medicine, and coverage of herbal medicine-based medication in national health insurance, etc. The number of Traditional Korean Medicine Pharmacists which was born during 'the herbal medicine conflict' initiated in 1993, goes over 1,000 and will increase by 120 annually. The number of Traditional Korean Medical Doctors is over 17,000 and increases by 850 annually. So in order to engage partnership between two groups, the government have to arrange the number of outputs of each group. Standardization and classification of diagnosis and diseases in Traditional Korean Medicine is a matter of course in the separation of prescribing and dispensing medicinal herbs. Related societies and academies need to do researches with governmental fund first. After these works, we can launch a task force team for implementation of process for the separation of prescribing and dispensing medicinal herbs in Traditional Korean Medicine properly. Entering the national health insurance system for full coverage of Korean Medicine care service will be essential for the patients. Implementation the separation of prescribing and dispensing medicinal herbs in Traditional Korean Medicine would be the core of health insurance coverage for medication.

Case Study on a French Commercial Film Production (프랑스 상업영화 제작 사례 연구)

  • ROH, Chul-Hwan
    • Trans-
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    • v.1
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    • pp.141-166
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    • 2016
  • France owns a unique film production process with the big share of public funding. In its background there is the most developed film support scheme in the world. We consider the French film industry has the fair competition order than any other country. This study follows the French film production process from the project planning to film screening. It looks into various aspects French cinema: production scale of French films, investment/production agreement, actors casting, decision of the film budget, major investors, staffs' wages and collective convention, screening, overseas sales and profit-sharing. It aims to get across the French film industry, especially the film production sector. As a case study, we choose a romantic comedy, Heartbreaker(L'Arnacœur) made in 2010. This study presents a French film industry structure. It will give you some hints to reconsider the existing problems of Korean film industry, for example, screen monopoly, vertical integration of conglomerates, poor secondary market, low earnings rate… etc.

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Alcohol as a Risk Factor for Cancer: Existing Evidence in a Global Perspective

  • Roswall, Nina;Weiderpass, Elisabete
    • Journal of Preventive Medicine and Public Health
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    • v.48 no.1
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    • pp.1-9
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    • 2015
  • The purpose of the present review is to give an overview of the association between alcohol intake and the risk of developing cancer. Two large-scale expert reports; the World Cancer Research Fund (WCRF)/American Institute of Cancer Research (AICR) report from 2007, including its continuous update project, and the International Agency for Research of Cancer (IARC) monograph from 2012 have extensively reviewed this association in the last decade. We summarize and compare their findings, as well as relate these to the public health impact, with a particular focus on region-specific drinking patterns and disease tendencies. Our findings show that alcohol intake is strongly linked to the risk of developing cancers of the oral cavity, pharynx, larynx, oesophagus, colorectum (in men), and female breast. The two expert reports diverge on the evidence for an association with liver cancer and colorectal cancer in women, which the IARC grades as convincing, but the WCRF/AICR as probable. Despite these discrepancies, there does, however, not seem to be any doubt, that the Population Attributable Fraction of alcohol in relation to cancer is large. As alcohol intake varies largely worldwide, so does, however, also the Population Attributable Fractions, ranging from 10% in Europe to almost 0% in countries where alcohol use is banned. Given the World Health Organization's prediction, that alcohol intake is increasing, especially in low- and middle-income countries, and steadily high in high-income countries, the need for preventive efforts to curb the number of alcohol-related cancers seems growing, as well as the need for taking a region- and gender-specific approach in both future campaigns as well as future research. The review acknowledges the potential beneficial effects of small doses of alcohol in relation to ischaemic heart disease, but a discussion of this lies without the scope of the present study.

An Analysis of Structural Relationships among Financial Indicators of Hospitals in Korea: Applying Structural Equation Modeling(SEM) (병원 재무비율 지표들 간의 구조적인 관계 분석)

  • Jung, Min-Soo;Lee, Keon-Hyung;Choi, Man-Kyu
    • Health Policy and Management
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    • v.18 no.2
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    • pp.19-38
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    • 2008
  • Financial ratios are key indicators of an organization's financial and business conditions. Among various financial indicators, profitability, financial structure, financial activity and liquidity ratios are frequently used and analyzed. Using the structural equation modeling(SEM) technique, this study examines the structural causal relationships among key financial indicators. Data for this study are taken from complete financial statements from 142 hospitals that passed the standardization audit undertaken by the Korean Hospital Association from 1998 to 2001 for the purpose of accrediting teaching hospitals. In order to improve comparability, ratio values are standardized using the Blom's normal distribution. The final model of the SEM has four latent constructs: financial activity(total asset turnover, fixed asset turnover), liquidity(current ratio, quick ratio, collection period), financial structure(total debt to equity, long-term debt to equity, fixed assets to fund balance), and profitability(return on assets, normal profit to total assets, operating margin to gross revenue, normal profit to gross revenue). While examining several model fit indices(Chi-square (df) = 178.661 (40), likelihood ratio=4.467, RMR=.11, GFI=.849, RMSEA=.157), the final SEM we employed shows a relatively good fit. After examining the path coefficient of the constructs, the financial structure of the hospital affects the hospital's profitability in a statistically significant way. A hospital which utilizes its liabilities, more specifically fixed liabilities, and makes a stable investment decision for fixed assets was found to have a higher profitability than other hospitals. Then, the standard path coefficients were examined to directly compare the influence of variables. It was found that there were no statistically significant path coefficients among constructs. When it comes to variables, however, statistically significant relationships were found. between. financial activity and. fixed. asset turnover, and between profitability and normal profit to gross revenue. These results show that the observed variables of fixed asset turnover and normal profit to gross revenue can be used as indicators representing financial activity and profitability.

Analyzing Regional Innovation Network Differences and Influencing Factors: Focusing on Actors in National R&D Projects (지역별 혁신 네트워크의 차이와 영향요인 분석: 국가연구개발사업 참여 혁신주체의 관점에서)

  • Kim, Dongkwan;Nam, Taewoo
    • Journal of the Economic Geographical Society of Korea
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    • v.24 no.3
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    • pp.259-282
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    • 2021
  • This study analyzes actor networks in regional innovation processes with a focus on actors' activities and finds the determinants of the networks, thereby aiming to provide information useful for regional innovation policy makers. To this end, the study conducted a social network analysis of the national R&D projects data and identified the activities of innovation actors. Finding out the network determinants was QAP analysis. The study suggests three main findings as follows. First, a meaningful difference exists in characteristics of innovation activity by region. Second, the network of innovation actors meaningfully differs from region to region. The centrality of the network was found to be high in universities and businesses in Seoul and Gyeonggi, and in public research institutes in Daejeon. There are regions where all the networks of innovative actors are composed of one component, while some regions are not yet established with the network. Finally, although the networks of innovation actors are influenced by the geographical proximity and the size of the R&D fund, it is notable that the previous continuous relationship forms a strong research network.

Improvement of Small-size Multi-housing Area Reconstruction Project Using AHP Analysis (AHP분석을 통한 가로주택정비사업의 개선방안)

  • Kim, Suk-Joon;Lee, Sang-Ho;Huh, Young-Ki
    • Korean Journal of Construction Engineering and Management
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    • v.20 no.2
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    • pp.79-85
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    • 2019
  • The policy introduced recently in order to promote small-size reconstruction housing projects for rehabilitating downtown area consists of aged multi houses has been little practiced, as preferential provisions for such projects are more likely applicable for large projects. Several expert interviews and surveys were conducted to find efficient clauses to overcome the problems and their relative weights. As the results, it is revealed that 'relation of floor area ratio' and 'relaxation of building height limit criteria' are the most effective whereas 'purchasing and operating of residents' common facilities with public fund' is little. The study results would be a great interests for public institutions to rebuild aged housing area without destroying local communities and to provide socially disadvantaged class with rental housing at the same time.

A Study on the Promotion of Sustainable Community Enterprise for the Local Regeneration - Focused on Community Enterprises in the UK - (지역재생에 있어 지속가능한 마을기업 육성에 관한 연구 - 영국 마을기업 사례를 중심으로 -)

  • Im, Jung Ha
    • Journal of the Architectural Institute of Korea Planning & Design
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    • v.34 no.5
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    • pp.139-150
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    • 2018
  • This paper aims to elaborate the role and availability of the community enterprise as a form of methodology in local regeneration, dealing with urban social problems generated in the process of urban development. In a situation of the increasing skepticism in the capitalism, the instability in public welfare system and disintegration of community, social economy has come to the fore as an alternative. The community enterprise, especially, has shown the potential to form a virtuous cycle in local regeneration system; residents recognize local problems by themselves; discover and utilize the local resources and assets in the process of solving the problems as an entrepreneurial form; and consequently create social and economic capital which can be reinvested in the local community. Given these aspects, Korean government has implemented supporting policies for the promotion of community enterprises, and new government's "Urban Regeneration New Deal Project" are putting more importance on the role of social and community enterprises as a propulsion unit. In this regard, this paper first explores the concept and features of community enterprise in economic and social aspects, whereby it analyzes the capacity of community enterprises as principal agencies or implements in local development. Then, the development status and institutional supports for community enterprises in the UK is revealed, and investigates case studies which are playing a revolutionary role in urban regeneration or local economic revitalization. Based on this analysis, it draws the main factors for the sustainable and autogenous community enterprise as follows: flexibility in legal forms, community owned assets, diverse fund streams and invigorating social investment market, active partnership between public and private sectors, ardent enterprisers and intermediate support organizations.