• Safety and Health at Work
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• v.9 no.4
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• pp.462-467
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• 2018

Background: This study was conducted to investigate the effects of work on medical expenditures by the elderly. Methods: Data pertaining to individuals aged 65 or older collected by the Korean Health Panel 2008-2013 were used. The effects of work on medical expenditures were analyzed in a panel tobit model adjusted for several variables of demographic factors, socioeconomic factors, and health factors for health care. Data were also analyzed based on age groups (65-74, $75{\leq}$), type of work (waged or self-employed), and working time (daytime work or night time work). Results: Among the elderly older than 65 years, 34-37% were workers. Work among the elderly reduced medical expenditures relative to nonworking elderly. Specifically, medical expenditures were lower in individuals older than 75 years, as well as among those who were self-employed insured and had medical aid insurance and those who exercised. However, medical expenditures were higher among females, married individuals, those with a higher household income, and those with a chronic disease. Elderly wageworkers showed reduced medical expenditures than nonworking elderly and elderly daytime workers did. Conclusion: The elderly population's work, especially wage work and daytime work, reduced medical expenditures relative to no work. These results provide valuable information for policymakers by indicating that work was associated with lower medical expenditures than no work. If elderly work is to be encouraged, it is necessary to provide a variety of high-quality wage work.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.591-599
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• 2021

The increased risk in financial firms, due to Global Financial Crises and high international trade activities, has encouraged banks to use derivatives for both managing their financial risk and earning non-operating income simultaneously. The present study brings new evidence in the existing literature by determining the drivers behind financial derivative usage in Pakistani banks for 2011 till 2016. Moreover, the paper examines how risk plays a moderating role in determining the relationship between derivative usage and bank value. While assessing the determinants, a two-stage test has conducted, first, the logit regression was used to test the drivers behind the derivative usage in banks. Second, Tobit regression was run to analyze the factors leading to determine the extent of derivative usage. The findings demonstrate that Pakistani banks are using derivatives for both risk management and speculative motive as they are customers and users of derivatives at the same time. Empirical results, regarding moderating role of risk on the value implications of derivative usage, provide mixed findings as derivative usage gives value premium in case of non-systematic risk and foreign exchange risk. Whereas value discounts have been observed for cases where systematic risk is high and managers try to earn non-operating income from speculative activities.

• Korea Trade Review
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• v.44 no.3
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• pp.227-252
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• 2019

This study explores the effects of exports on the innovation of Korean firms listed on two Korean stock markets, the Korean Stock Exchange and the Korean Securities Dealers Quotations, between 1999 and 2016. By matching exporting firms to non-exporting ones with propensity score matching, this study accounts for a problem from sample selection bias that may arise from differences in firm-characteristics between the two groups. From the study results, first, both export participation and export volume significantly increase subsequent innovation performance, as measured by the number of patent applications. This result seems to support the "learning by exporting" hypothesis for Korean listed firms. Second, both export participation and export volume narrow innovation scope, proxied as the number of unique International Patent Classification (IPC) codes of the patent applied, the degree to which patents are concentrated in a particular class, and the degree of proximity in the patents. The findings of innovation scope suggest a possible explanation that the learning effect appears in familiar technology fields that firms have previously held, rather than in unfamiliar ones. Third, these results are robust using alternative proxies in the innovation scope, Tobit regressions to consider the non-trivial portion of sample firms with patent applications equal to zeros, and generalized method of moments (GMM) to control for the persistence of innovation measures hearing over years. Finally, the two main results are more pronounced in large firms than in small and medium-sized ones. As for Chaebol firms, however, these results do not appear.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.365-373
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• 2021

Loan monitoring is a fundamental element of credit control. The importance of loan monitoring is to reduce loan defaults and to increase loan repayment performance. The ex-post monitoring can also increase the loan quality and thus a concern to many creditors in the market economy. This study identifies the role of ex-post monitoring on loan repayment performance in the context of rural Vietnam. Employing primary data from rural areas of Vietnam, this study investigates the impacts of ex-post monitoring on loan repayment performance of individual borrowers in terms of on-time loan repayment and the rate of loan repayment. Descriptions of borrower demographics, loan information, and ex-post monitoring show the initial picture of borrowers and loans in Vietnam's rural areas. Quantitative estimations that use the Probit and the Tobit model confirm the argument that better ex-post monitoring would result in better loan repayment performance in both on-time repayment and repayment rate. Thus, some policy suggestions have been made to improve the monitoring system in each financial institution. The study also indicates that some other factors too affect loan repayment performance such as borrower's characteristics (education, agricultural working area, and income) as well as loan's characteristics (loan size, maturity, and loan purpose).

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.895-904
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• 2021

This study aims to investigate the impact of innovation on firm efficiency. Panel data of fourteen finance companies and nine technology companies from 2011 to 2019 on the Vietnam Stock Exchange Market is derived from audited financial statements, annual reports, and other crucial reports that are provided by Vietstock; macroeconomic variables are collected from the World Bank Database. A two-stage approach is used. First, use of the Data Envelopment Analysis methodology to measure firm efficiency. Second, use of the Pooled ordinary least squares, the Fixed effects model, and the Random effects model to investigate the impact of innovation on firm efficiency. Furthermore, the Generalized Method of Moments and the Tobit model are used to validate the impact of innovation on firm efficiency, and the t-test is used to confirm the difference in efficiency with and without the impact of innovation between two industries. The results show that there is a significant impact of innovation on efficiency, and innovation plays a more important in increasing the efficiency of the finance industry than the technology industry. Moreover, the relation between age and efficiency is like the U-shaped, and between size and efficiency is like the inverted U-shaped, whereas efficiency is not associated with inflation.

• Safety and Health at Work
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• v.13 no.1
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• pp.51-58
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• 2022

Introduction: Previous studies on occupational health focussed predominately on the occurrence of occupational diseases. Relatively few studies have measured how employment is associated with the use of healthcare services. This study investigates the association between employment and the extent and range of healthcare use, such as medical expenditures, of women in South Korea. Methods: We analyze data of the Korean Health Panel, an ongoing longitudinal national representative survey, from 2008 to 2017, to identify the status of economic activity of women by year and age group. We estimate the association between female employment status and medical expenditures by using random effect panel Tobit models. Furthermore, we investigate the association between employment status and the range of healthcare services in biomedicine and traditional Korean medicine (KM) by conducting conditional fixed-effects logistic regression analyses. Results: For women aged between 25 and 65 in 2017, the majority of them were employed or self-employed. (The proportion of employment of self-employment equals 64.80%). In addition, working women spent 11.6% less on healthcare than nonworking women, and self-employment lowered the healthcare expenditure by 13.1%. Neither work nor the type of work is related to the types and range of healthcare service use. Being employed or self-employed is negatively associated with women's expenditure on healthcare. Conclusions: The findings show that employment is associated with less spending on healthcare. They imply that employment has a positive impact on women's health.

• Asia-Pacific Journal of Business
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• v.13 no.3
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• pp.171-182
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• 2022

Purpose - The main purpose of this study is to test two competing hypotheses on the relationship between foreignness and corporate philanthropy drawing on the resource dependence theory. Design/methodology/approach - This study used Korean Enterprsie Survey data constructed by Korean Statistical Information Service. This study employed both OLS and Tobit models to test the hypotheses. Findings - A conventional wisdom can argue that MNC subsidiaries are more willing to give charitable donations than local firms do because they may perceive philanthropy in the host country is a good opportunity to reduce liabilities of foreignness (H1-1). On the other hand, one can argue that MNC subsidiaries are less willing to give charitable donations than local firms do because they have operational flexibility when they are coerced to engage in corporate philanthropy by host country government stakeholders (H1-2). Empirical results support the prediction that MNC subsidiaries are less likely to give charitable donations than local firms do in Korea. Research implications or Originality - Our findings can provide useful insights to researchers and managers in the sense that MNC managers can increase or decrease their charitable donations depending on the institutional contingencies in different host countries. These institutional contingencies are particularly important within a transforming context such as Korea.

• Journal of Distribution Science
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• v.20 no.8
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• pp.123-133
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• 2022

Purpose: As moment-based marketing messages (i.e., messages related to current moments or event), companies put significant investments to distribute TV advertising related to external moments in a retail environment. While the literature offers strong support for the value of distributions of context-based messaging to advertisers, less attention has been given to how to design those messages to effectively communicate across channels. This research adds a new dimension of analysis to the study of advertising context and its cross-channel effects on online consumer behavior. Research Design, Data and Methodology: A system-of-equations Tobit regression model was adopted using data collected from an advertising agency that consists of 1,223 TV ads aired during the Rio Olympics and NCAA, tagging from consumers, and a text analysis. Results: First, TV ads with high centrality of context lead to lower online search behavior and higher online social actions. Second, how brands can design messages more effectively was explored by using product information as a moderator that could improve the impact of context-based TV advertisements. Conclusions: Given that expenses in traditional channels are still one of the biggest channel management decisions, it is critical to understand how consumer engagement varies by design of context-based TV advertising.

• The Journal of Asian Finance, Economics and Business
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• v.10 no.1
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• pp.123-132
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• 2023

This study seeks to determine if the efficiency of bank human resources, as played by human capital, impacts the performance and diversification of banks. This study uses secondary data from data obtained from 385 commercial banks in 33 countries in Asia during the 2010-2020 period with the diversification analysis method. We use the Z-score to measure the amount of standard deviation that must be from earnings (ROAA). We examined it using the Tobit regression technique. According to the regression estimation results, human capital has a significant role in the performance and effective diversification of Asian banks. The human capital efficiency coefficient (HCE) is significantly negative with the cost-to-income ratio (CTIR) and significantly positive with Profitability, Financial Stability, and cost efficiency score. The level of efficiency of human resources has an effective role in increasing human capital which has an impact on bank diversification and performance. The development of human resources in a human capital framework plays an important role in the diversification and improvement of bank performance. Human capital has a significant role in the performance and effective diversification of Asian banks. The level of efficiency of human resources has an effective role in increasing human capital which has an impact on bank diversification and performance.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.17 no.10
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• pp.2609-2626
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• 2023

The hotel industry is an example of experiential services. As consumers cannot fully evaluate the online review content and quality of their services before booking, they must rely on several online reviews to reduce their perceived risks. However, individuals face information overload owing to the explosion of online reviews. Therefore, consumer cognitive fluency is an individual's subjective experience of the difficulty in processing information. Information complexity influences the receiver's attitude, behavior, and purchase decisions. Individuals who cannot process complex information rely on the peripheral route, whereas those who can process more information prefer the central route. This study further discusses the influence of the complexity of review information on hotel ratings using online attraction review data retrieved from TripAdvisor.com. This study conducts a two-level empirical analysis to explore the factors that affect review value. First, in the Peripheral Route model, we introduce a negative binomial regression model to examine the impact of intuitive and straightforward information on hotel ratings. In the Central Route model, we use a Tobit regression model with expert reviews as moderator variables to analyze the impact of complex information on hotel ratings. According to the analysis, five-star and budget hotels have different effects on hotel ratings. These findings have immediate implications for hotel managers in terms of better identifying potentially valuable reviews.