• The Journal of Asian Finance, Economics and Business
• /
• 제6권4호
• /
• pp.37-43
• /
• 2019

The research aims to study the relationship between export performance and stock return of Vietnamese fishery companies. To conduct this study, quarterly data was collected for period from 2010-2018 of 13 fishery companies listing in Ho Chi Minh Stock Exchange (HOSE) and Ha Noi Stock Exchange (HNX). The export performance was measured by export intensity, export growth and export market coverage. In addition, interest rate, exchange rate, GDP, firm size, profitability, and financial leverage were considered as the control variables in the research model. Panel data analysis with Generalized Least Squares model was employed to estimate the predictive regression. The findings indicated that export intensity and export growth have a significant and positive relationship with stock returns. However, export market coverage has not a significant relationship with stock return at the 0.05 level. Profitability, financial leverage, and exchange rate have a positive relationship, while interest rate and GDP have no relation to stock return at the 0.05 significance level. The findings imply that investors should consider the export intensity instead of export growth and export market coverage as selecting stock of fishery exports firms to invest; managers should increase export intensity to increase company's stock price or firm market value.

• 기술경영경제학회:학술대회논문집
• /
• 기술경영경제학회 2001년도 제19회 하계학술발표회 논문집
• /
• pp.145-156
• /
• 2001

This paper investigates the effect of imported technology on the economic growth of Korea. To this end, the relationship between input technology and economic growth are suggested in the numerical form and analysed empirically. The rates of return of technology investments, which are divided into the domestic R&D investment and the investment on imported technology, are estimated. Based on the result of this analysis, the rate of return of the input technology, which includes the domestic R&D investment and the investment on imported technology, are estimated as 31.4%, and this input technology is calculated as to contribute 8.9% on the economic growth rate of Korea. And the domestic R&D investment is fumed out to have bigger rate of return than the investment on imported technology during the surveyed period. However, the rates of return of detailed R&D investments, which can be divided into the investments on commercial R&D and basic science, were not calculated in this paper, because of the lack of data on this in this paper. As well, the time-lag effect, which is naturally believed to exist between the R&D investment and the economic growth, could not be analysed wit:1 the same reason. Thus when analysing the relationship between them, this paper tried to minimize the time-lag effect by using the long-term data of twenty-three years.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권7호
• /
• pp.139-147
• /
• 2020

This paper aims to explore the relationship between the quality of the audit and the level of stock return co-movement in the context of the Vietnamese emerging market. The empirical study is designed based on the quatitative method and deductive approach. The panel dataset includes 256 listed firms from different industries,with 1115 firm-year observations on Ho Chi Minh City Stock Exchange for the period from 2014 to 2018. In the research, we built the econometric regression model, using stock return synchronicity and audit quality as the dependent and independent variable, respectively. Some control variables are also added to the econometric regression models as they are well-documented in prior research to have an effect on stock price synchronicity. To improve the accuracy of the regression coefficients, beside the Ordinary Least Squares, we employ the Random Effects Model and the Fixed Effects Model for better statistical analysis of panel data set. The results show that the quality of the audit is positively correlated to stock price synchronicity. This finding suggests that stock returns of companies with higher quality of the audit are more synchronous with the market. Results for other control variables also support our reasoning for the main findings.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권10호
• /
• pp.35-42
• /
• 2020

This study aims to investigate the relationship between the variables of Current Ratio (CR), Return-on-Equity (ROE), Return-on-Assets (ROA), Debt-to-Equity Ratio (DER), and Firm Size (FS) on Dividend Policy (DP) in real estate and property companies listed on the Indonesia Stock Exchange in the period 2016-2019, looking at nine real estate companies in Indonesia. The research methodology uses an explanatory analysis approach and linear regression. Based on the eligibility and homogeneity of the data, the number of sample companies selected was nine companies. The company's financial statement data derived from primary data obtained on the Indonesia Stock Exchange, such as current ratio (CR), return-on-equity (ROE), return-on-assets (ROA), debt-to-equity ratio (DER) and firm size and dividend policy variables. The data analysis procedure is first to transform financial data from the original ratio data into interval data and, then, transform it to ordinal data. Furthermore, the validity and reliability process are ignored because the data is primary. Finally, regression testing is part of the hypothesis testing stage. The results of this study showed that the CR, ROE, and firm size had no positive and significant effect on dividend policy. In contrast, DER and ROA have a positive and significant impact on dividend policy.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권2호
• /
• pp.737-745
• /
• 2021

This study aims to determine whether there are differences in the average abnormal return, trading volume activity, and trading frequency activity in pharmaceutical stocks before and after the announcement of the first case of the coronavirus (COVID-19) in Indonesia. The sample was selected using a purposive sampling method and collected as many as nine pharmaceutical companies listed on the Indonesia Stock Exchange during 2019-2020. The data used in this study were secondary data in the form of daily data on stock closing prices, Composite Stock Price Index (IHSG), stock volume trading, number of shares outstanding, and stock trading frequency. This study was an event study with an observation period of 14 days, namely seven days before and seven days after the announcement of the coronavirus's first positive case in Indonesia. Hypothesis testing employed the paired sample t-test method. Based on the results, it was found that there was no difference in the average abnormal return of pharmaceutical stocks before and after the announcement of the first case of COVID-19. However, there was a difference in the average trading volume activity and the average trading frequency activity in pharmaceutical stocks before and after the announcement of the first case of COVID-19.

• The Journal of Asian Finance, Economics and Business
• /
• 제9권9호
• /
• pp.181-189
• /
• 2022

The current study examines the nexus between the capital structure (debt-equity) and firm value (Tobin's Q) by including profitability (alternatively Return on Assets (ROA) and Return on Equity (ROE)) as a moderator in the companies of Saudi Arabia. The study sample consists of 102 companies listed on Tadawul (the Saudi Arabian stock exchange) from different sectors of Saudi Arabia during the period 2013 to 2020. The study estimates pooled regression, panel regression with fixed and random effects, and dynamic panel regression models to report the results. The study results report that there is a negative and significant association between capital structure and firm value in model 1, while in models 2 and 3 there is a more negative and significant impact between the two study variables compared to model 1 after the inclusion of interaction variable, i.e. profitability in terms of ROA and ROE. The comparative result shows that the companies of Saudi Arabia hold more debt in their capital structure mix, hence evidencing a decrease in the firm value. The reported results also show that models 2 and 3 are better in explaining the impact of capital structure on firm value due to the interaction of profitability compared to model 1.

• 한국농촌건축학회논문집
• /
• 제14권4호
• /
• pp.143-152
• /
• 2012

The purpose of this study was to provide practical data for proposing the housing environment support policy, fit for returners-to-village. For the purpose, this study focused the patterns of returners-to-village according to their experience of rural life, and their ways of settlement like planning and getting land and house. The questionnaires were answered by 91 persons who were living in Chungbuk area, and were analyzed chi-analysis on their socio-demographic characteristics according to experience of rural life, preparation of settlement and construction. The ANOVA were used to analyze their pattern of return according to experience, the period for getting house, and their satisfaction level of house size. The results were as follows. First, the returners showed differentiated tendency according to their experience of rural life, in their age, family life cycle, education level and income source after return. The experience of rural life explained the purpose of return and the living pattern after return. Direct experience group was mostly occupational farmer; indirect experience group mostly pursued good health & green life; non experience group mostly pursued green life. Second, the experience of rural life also explained differentiated tendency of returning preparation. In raising money, direct experience group mostly raised it privately but indirect or non experience group mostly used bank loan. Third, the returners mostly constructed new houses; non experience group almost constructed newly, but there were cases to utilize existing or vacant house in direct experience group, and indirect experience group favored existing house or remodeling of vacant house.

• 한국치위생학회지
• /
• 제16권5호
• /
• pp.741-750
• /
• 2016

Objectives: This study aims to identify dentists' opinions about the return to work of the dental hygienists with career interrupted. Convenience sampling was made of 22 dentists with the clinical experience (about 0.25%) of the 4,944 members of Gyeonggi-do Dental Association. Data were collected through an electronic survey using e-mails and telephone interviews and analyzed using the constant comparison method. Methods: Open coding was assigned to the initial data from the survey in an explicit language, and focusing on the types of their employment, working conditions, etc. Summarization and conceptualization were made of the second data in an implicit language. Results: Most of the dentists were found to have positive attitudes toward the return to work of career interrupted dental hygienists and hope to adjust their wages based on their job performance or after their probational period expires. Most of the dentists were found to have positive attitudes towards the hygienists' flexible working although their concerns about work efficiency and hospital atmosphere. This study is a qualitative study that describes dentists' opinions and presents the need for the career interrupted dental hygienists to return to work. Conclusions: The study proposed that the educational institutions should take into account the hygienists' opinions when implementing the programs for promoting their return to work and their evaluative studies.

• 사회복지연구
• /
• 제45권2호
• /
• pp.123-146
• /
• 2014

본 연구는 요양종결 이후 다시 업무에 복귀한 산재근로자들의 복귀 이후 첫 복귀직장에서의 고용지속기간 및 고용중단에 영향을 미치는 요인을 분석하였다. 이를 위해 산재다빈도 상병인 상 하지골절 및 허리질환으로 치료를 받고 직장에 복귀한 515명의 산재근로자 자료를 분석에 활용하였다. 산재근로자의 고용지속기간을 분석한 결과, 복귀 이후 1개월 이내 직장을 그만둔 경우는 5.65%, 3개월 이내 14.14%, 6개월 이내 23.70%, 12개월 이내 32.81%로 나타나, 재해 이후 직업복귀한 근로자 10명 중 3명은 1년 이내 첫 복귀한 직장을 그만두는 것으로 나타났다. 그리고 산재근로자의 연령이 높을수록, 미혼에 비하여 기혼이, 재해 당시 근속기간이 길수록, 타직복귀에 비하여 원직복귀가, 재해 전후 소득변화가 없는 경우에 비하여 증가한 경우가 재해 이후 첫 복귀직장에서의 고용중단 가능성이 낮았고, 대졸 이상에 비하여 중졸 이하가, 허리질환에 비하여 상 하지골절이 고용중단 가능성이 높은 것으로 나타났다. 이러한 결과를 토대로 하여 산재근로자의 고용지속성을 높이기 위한 정책적 함의를 제시하였다.

• 상하수도학회지
• /
• 제24권2호
• /
• pp.195-202
• /
• 2010

The evaluation of organic matters and nutrients removal was investigated for the synthetic wastewater and the high strength of dairy wastewater. Two different systems were performed for this research. System A composing of a single RBC with tapered aeration was fed with the synthetic wastewater for 74 days with 173L/day of influent, 200% of internal return and 100% of sludge return for the period 1 and 2. The feed conditions were maintained 346L/day of influent, 50% of internal return and sludge return for the period 3. The dairy wastewater was introduced to evaluate treatment efficiency for system B composing of dual RBCs and tapered aeration tanks for 50 days of experimental run time, in which hydraulic rates were maintained at the constant ratios of 346L/day, 50% of internal return and 50% of sludge return. The spiral string media made of nylon fibre was attached by Bacillus sp. in RBC for both systems. The specific area of string media was $1.4m^2$/m and biomass was maintained at the concentrations of 23g/m. The synthetic wastewater was supplied by 1,800mg/L of glucose, 500mg/L of $NH_4Cl$, and 500mg/L of $KH_2PO_4$ to system A. The dairy wastewater was supplied to system B from dairy production plant. The average influent concentrations were 1,334mg/L of BOD, 2,014mg/L of CODcr, 160mg/L of T-N, and 12mg/L of T-P in system A. The average influent concentrations of parameters were 1,006 mg/L for BOD, 1,875mg/L for $COD_{cr}$, 51.6mg/L for T-N and 8.9mg/L for T-P in system B. Results indicated that removal efficiencies of BOD and $COD_{cr}$ were more than 90% however, the removal efficiency of T-N was 87%, and that of T-P was 82% for system A. Removal efficiencies were 98.5% of BOD, 91.3% of nitrogen and 89% of phosphorus for system B. The removal efficiencies of organic matters, T-N and T-P were higher in system B than in system A. The effluent quality issued by the stringent national legislations for the discharge of the high strength of dairy products wastewater can be improved using sequential RBCsand tapered aeration reactors rather than a single RBC and tapered aeration reactors with Bacillus sp.