• Journal of Information Science Theory and Practice
• /
• 제4권2호
• /
• pp.21-33
• /
• 2016

A sustainable development in science, innovation, and technology requires a balanced distribution of scientific wealth in sub-country regions. This paper addresses the issue of geographical distribution of scientific wealth and its goal is to offer a framework to describe and measure the share of provinces in national scientific wealth. Our proposed model divides the indicators of scientific wealth into two groups, production and the use of scientific wealth. To evaluate this model, the scientific wealth of Iran was studied using recorded data on IRANDOC databases. Rich, average, and poor provinces were identified and the results showed that 70% of the scientific wealth belongs to 20% of the provinces. The findings can facilitate planning for a sustainable science and technology policy.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권11호
• /
• pp.717-725
• /
• 2020

The purpose of this paper is to highlight the impact of the performance of private wealth management (PWM) on the growth of retail banking in Indonesia. The variables used are bank's competitiveness, risk management, performance of private wealth management, and growth of retail banking business. The data were collected from 60 respondents from 32 banks over five months, from October 2018 to March 2019. Using partial least square path modeling, the analysis shows that the performance of private wealth management has an impact on the growth of retail banking sector in Indonesia. Bank competitiveness and risk management affect the performance of personal wealth management and have an impact on the growth of the retail banking business. Bank competitiveness is the variable that most influences the performance of private wealth management in Indonesia. This research found that market share is the most significant indicator of bank competitiveness. For risk management, significant indicators are the level of bank confidence, increased bank competitiveness, and the creation of new products. In the performance of the private wealth management variable, the most significant indicator is the revenue fee-based income. For the growth of retail banking business, a clear indicator is profit growth.

• Communications for Statistical Applications and Methods
• /
• 제14권1호
• /
• pp.33-55
• /
• 2007

The economic world is full of patterns, many of which exert a profound influence over society and business. One of the most contentious is the distribution of wealth. Way back in 1897, an Italian engineer-turned-economist named Vilfredo Pareto discovered a pattern in the distribution of wealth that appears to be every bit as universal as the laws of thermodynamics or chemistry. The present paper proposes some Bayes estimators of shape parameter of Pareto income distribution in censored sampling. Asymmetric LINEX loss function has been considered to study the effects of overestimation and underestimation. For the prior distribution of the parameter involved a number of priors including one and two-parameter exponential, truncated Erlang and doubly truncated gamma have been contemplated to express the belief of the experimenter s/he has regarding the parameter. The estimators thus obtained have been compared theoretically and empirically with the corresponding estimators under squared error loss function, some of which were reported by Bhattacharya et al. (1999).

• The Journal of Asian Finance, Economics and Business
• /
• 제7권4호
• /
• pp.299-307
• /
• 2020

Inter vivos in the context of wealth and estate planning can be generally defined as a transfer that takes place between the livings. Parents are motivated to transfer for altruisme and exchange. In this context, this study aims to explore another potential motives of inter vivos, which is 'affection'. Data is collected through semi-structured interviews with inter vivos experts who have published articles in this area. The interview is encoded and thematic analysis is carried out to classify themes and subthemes that exist in the inter vivos transfers. This study discovers four main themes, which indicate that inter vivos transfers based on affection can be enlightened by the relationship between parents and children, responsibility for children, types of inter vivos, and effects to other heirs. Relationship between parents and children can be explained as parents transfer their wealth to the closest children, children who care for them and to family members only. Parents also are responsible to protect their children after they die and assist them who are in need. Types of inter vivos are considered as boundless inter vivos and without any material return. Inter vivos based on affection also aims not to abuse other heirs.

• 유통과학연구
• /
• 제20권3호
• /
• pp.53-58
• /
• 2022

Purpose: Controlling and minority shareholders sometimes have conflicting interests. Controlling shareholders who do not have adequate monitoring can exhibit a strong tendency to maximize their personal wealth. In this case, cash holdings can be the easiest means for them to pursue their personal interests. This study examined whether the largest shareholder's ownership proportion affected the speed at which firms adjust their cash holdings to target levels in Korean distribution and service companies. Research design, data, and methodology: The study uses regression analysis to examine 834 firm-year samples listed on the KOSPI between 2013 and 2018 in the distribution and service sectors. Results: The largest shareholder's ownership is positively related to a firm's cash holdings adjustment speed. That is, the larger the largest shareholder's ownership, the faster the firm adjusts its cash holdings to achieve the target level. Conclusions: This study contributes to the literature by providing evidence that the cash holdings adjustment speed in Korean service and distribution companies is affected by the largest shareholder's ownership. As the agency problem between controlling and minority shareholders in Korea is a major issue, minority owners' sensitivity to agency costs may help restrict controlling owners' ability to maximize their personal wealth.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권8호
• /
• pp.451-459
• /
• 2020

This study aims to examine the relationship of the four factors that increase the protection of minority shareholder investment. The factors are non-controlling shareholders, corporate governance, free cash flow, and shareholder wealth. The data for this study is obtained from the 2017 annual reports of 136 Thai public companies listed in the Market of Alternative Investment of Thailand (MAI). The analysis uses a multiple regression model to determine which factors encourage and which inhibit the protection of minority shareholder investment. The study tests four hypotheses. The results rejected H1 because non-controlling shareholders have negatively correlated with minority shareholder investment protection (beta -0.155 and p-value 0.050). The results accepted H2, H3 and H4 as follows. H2: corporate governance has positively correlated with minority shareholder investment protection (beta 0.17 and p-value 0.031). H3: free cash flow has positively correlated with minority shareholder investment protection (beta 0.214 and p-value 0.007). H4: shareholder wealth has positively correlated with minority shareholder investment protection (beta 0.318 and p-value 0.000). The major findings suggest strong minority shareholder investment protection was enhanced by increasing corporate governance, free cash flow and shareholder wealth. The protection of minority shareholder investment needs to reduce non-controlling shareholding pattern.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권1호
• /
• pp.169-178
• /
• 2021

This research aims to test, firstly, how the disclosure of corporate social responsibility (CSR) helps to moderate the effect of family ownership on investment efficiency; secondly, how CSR disclosures mediate the effect of corporate governance on investment efficiency. STATA was used to analyze archival data collected from a total sample of 210 manufacturing companies listed on the Indonesian Stock Exchange (IDX), which were in the family businesses category for the period of 2016-2018. The first finding is that CSR moderates the effect of family ownership on investment efficiency. This implies that family businesses are very careful about investing. They will avoid risky decisions that may increase the economic wealth, but reduce the socio-emotional wealth. To maintain socio-emotional wealth, they tend to choose an underinvestment strategy and are more concerned with the prestige and good reputation of their families and dynasties than with economic wealth. Thus, CSR disclosures can reduce the underinvestment strategy of family businesses listed on the IDX. The second finding is that CSR disclosures are able to mediate the effect of corporate governance on investment efficiency. CSR activities play a major role in decision-making, and through CSR disclosures, corporate governance has a greater effect on investment efficiency.

• 한국조사연구학회지:조사연구
• /
• 제8권2호
• /
• pp.1-19
• /
• 2007

이 연구는 사회조사에서 개인의 경제적 지위 측정값으로 주택자산의 적용 가능성을 알아 보았다. 이를 위하여 주택자산을 수입이나 주관적 계층평가처럼 기존에 널리 사용되고 있는 경제적 지위 측정값들과 비교하였다. 아울러 이러한 경제적 지위 측정값들과 다른 사회적 변수와의 관계를 살펴봄으로써 기존 변수와 주택자산의 유용성을 비교해 보고자 한다. 이를 위하여 전국의 3,000여 가구를 대상으로 조사된 2005년 전국가족실태조사 중에서 수도권 아파트 거주자 자료와 국민은행의 아파트 시세 자료를 사용하였다. 자료의 제한점에도 불구하고, 이 연구는 몇 가지 시사점을 제시하고 있다. 첫째, 다른 경제적 지위 측정값들과 분포나 다른 변수와의 관계에서 아파트 자산은 상이한 결과를 보였다. 자료수집이라는 측면만을 고려하여 경제적 지위를 측정하는 것은 연구자의 의도와 다른 결과를 산출할 수도 있다는 점을 보여 주고 있다. 둘째, 불완전하지만 아파트 시세 같은 보다 객관적인 지표의 활용 가능성을 적극적으로 검토할 필요가 있다. 최근에 부동산 자산에서 계층별 격차가 더 커지고 있다는 점을 고려할 때, 보다 객관적인 자료가 사회조사에서 적용된다면, 연구자의 의도를 보다 정확하게 반영할 수 있는 한 가지 방법이 될 것이다.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권12호
• /
• pp.63-72
• /
• 2020

Shadow banking in China has been growing rapidly; banks use wealth management products aggressively to evade regulatory constraints. The loan-to-deposit ratio or LDR targets both sides of the balance sheet; loans in terms of asset-side, and deposits in terms of liabilities-side; banks needed to control and maintain both sides. Regulators restricted Chinese banks to maintain a 75% limit for their loan-depositratio. Banks' needed to either lower their loans or increase the deposits; WMPs helped banks to evade this limit. Banks issue more WMPs to control and manage a 75% statutory ceiling LDR. This WMPs-LDR positive association disappeared post-2015 period. This study empirically examined how Chinese banks use WMPs issuance to avoid regulatory constraints. Quarterly panel data for 30 top Chinese banks were used by analyzing pre-2015 (during the 75% LDR limit) and post-2015 (after removal of the LDR limit). This study also performed fixed-effects model as recommended by the Hausman specification test, with feasible generalized least squares FGLS estimation technique. The results of this study show that for the pre-2015 period, Chinese banks use issuance of WMPs aggressively to manage their LDR limit; this WMPs-LDR relationship disappeared post-2015 period. Moreover, SMBs use WMPs more eagerly as compare to Big4 banks.

• 한국지역사회생활과학회지
• /
• 제23권2호
• /
• pp.145-162
• /
• 2012

The purpose of the study was to explore what factors influenced the elderly's prospective inheritance types such as traditional, equal, practical, and non-inheriting type. The role of older parents' socio-demographic and intergenerational characteristics affecting a decision on each pattern was paid special attention to. I used the nationally representative data from 10,469 older parents living independently in the '2008 Korean National Survey of Welfare Need in the Elderly'. Results showed that prospective inheritance types among the elderly were diverse. The type which pursues equal distribution of wealth to all the children emerges predominantly from them. Findings also suggested that inheritance types were associated with factors such as both individual and intergenerational variables. Furthermore, different factors had different impact on each type. Individual variables contributed more to equal types while intergenerational variables contributed to practical types. More interestingly, both individual and intergenerational factors affected non-inheriting types. Further research is necessary to investigate what mechanisms will be operating through the process of inheritance, which social policies will be substituted for the inheritance, and what other variables will account for the intergenerational transmission of wealth.