{"title":"Decline Patterns of Stock Prices by Disasters — Case Study of May 2019","authors":"K. Yamaguchi, Y. Shirota","doi":"10.18178/ijtef.2020.11.3.663","DOIUrl":"https://doi.org/10.18178/ijtef.2020.11.3.663","url":null,"abstract":"We shall measure the US-China trade friction impact in May 2019 on Japanese and US companies’ stock prices. When the President’ remark issued, the stock prices decreased. The decline patterns are in general dependent on the industry fields. We shall find a difference of decline patterns of the stock price movement. The data used are one of Japanese companies that have a lot of transactions with Chinese companies. They are machinery manufacturing companies (B2B transaction ones) and necessities selling companies (B2C ones) such as baby items, cosmetics, and clothing. We traced the time series data changes visually by our developed disaster impact graphs and finally found the pattern difference between the two fields. The machinery manufacturers’ stock prices clearly fall and keep low. The necessities makers’ pattern shows fluctuating declines.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125088215","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Effects of Wages and Global Financial Crisis on Labour Productivity - Does Size Matters?","authors":"N. A. Ibrahim, L. Putit","doi":"10.18178/IJTEF.2021.12.3.697","DOIUrl":"https://doi.org/10.18178/IJTEF.2021.12.3.697","url":null,"abstract":"Efficiency theory states that employers who pay more wages to their employees will motivate the latter to increase their productivity. In the past decade, evidence has shown that increase in wages was found to be relatively lower than the increase in labour productivity. While studies reveal that wages and labour productivity have significant causal relationship, they have yet to be observed by their firms’ relative sizes. This paper examines the effect of wages and global financial crisis on labour productivity of the manufacturing industries in Malaysia based on their relative sizes. The study analyses the industries by their relative sizes, that is, small industries (SIs), small and medium industries (SMIs) and large industries (LIs). Using panel data analysis with fixed effects on monthly data from Jan 2003 until August 2011, the study finds that wages have positively affected labour productivity of firms at all sizes. However, the changes in wages affect the labour productivity in smaller firms more than they do in the large firms. This may be due to the fact that there are increasingly more SMIs implementing performance-based remuneration system to remain competitive. Furthermore, as wage level of labours in LIs is generally known to be higher than those in SMIs, hence, the increase in wages of labours in the LIs may seem relatively lower than those in SMIs. The global financial crisis seems to have a positive effect on the small and medium industries but negative effect on the large industries.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116556561","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Investigating the Effects of Foreign Direct Investments and Remittances on Economic Growth in Nigeria: A Vector Autoregressive (Var) Approach","authors":"O. Fagbola.O., E. Adegbite, B. O. Oke","doi":"10.18178/ijtef.2020.11.2.662","DOIUrl":"https://doi.org/10.18178/ijtef.2020.11.2.662","url":null,"abstract":"In an attempt to ensure greater participation in the global economy, developing countries have increasingly liberalized, privatized and deregulated their economies since the mid-1980s. More welcoming policies to attract foreign capital inflows have been a prominent component of this trend. In this study, an attempt is made to analyze the impact of foreign direct investment and remittances inflow on economic growth of Nigeria in a quest to find a reasonable answer to the question of whether FDI and remittances inflows constitute vital sources of economic growth to Nigeria. The study employed the Vector Autoregressive (VAR) approach. It was established that foreign direct investment has a positive but non-significant impact on Nigeria’s economic growth. However, it is evident from the outcome of the study that the remittances inflow has a negative though nonsignificant impact on Nigeria economic growth. The policy implication of this study is that government should build an investment-friendly environment free of insecurity and corruption, reduce the cost of doing business and put in place the mechanism to attract more capital inflows to boost domestic production. By doing this, Foreign investors will have confidence in Nigeria economy and commit more funds in form of Foreign Direct Investment in Nigeria which will enhance domestic production. Remittances inflow can then be channeled to consumption of these domestic goods and services rather than on imported goods. This will increase aggregate demand and ultimately affect output and growth in Nigeria.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121222845","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Foreign Direct Investment and Import Demand in Cote d’Ivoire","authors":"Y. Keho","doi":"10.18178/ijtef.2020.11.2.661","DOIUrl":"https://doi.org/10.18178/ijtef.2020.11.2.661","url":null,"abstract":"","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128124079","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
S. No, D. Andrews, Ghirmay S. Ghebreyesus, E. Porter
{"title":"Creating Sustainable Neighborhood Developers' Program","authors":"S. No, D. Andrews, Ghirmay S. Ghebreyesus, E. Porter","doi":"10.18178/ijtef.2020.11.2.660","DOIUrl":"https://doi.org/10.18178/ijtef.2020.11.2.660","url":null,"abstract":"","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"129 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123006779","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Behnam Sabeti, Hossein Abedi Firouzajee, Reza Fahmi, S. J. Najafabadi
{"title":"Credit Risk Rating Using State Machines and Machine Learning","authors":"Behnam Sabeti, Hossein Abedi Firouzajee, Reza Fahmi, S. J. Najafabadi","doi":"10.18178/IJTEF.2020.11.6.683","DOIUrl":"https://doi.org/10.18178/IJTEF.2020.11.6.683","url":null,"abstract":"Credit risk is the possibility of a loss resulting from a borrower’s failure to repay a loan or meet contractual obligations. With the growing number of customers and expansion of businesses, it’s not possible or at least feasible for banks to assess each customer individually in order to minimize this risk. Machine learning can leverage available user data to model a behaviour and automatically estimate a credit score for each customer. In this research, we propose a novel approach based on state machines to model this problem into a classical supervised machine learning task. The proposed state machine is used to convert historical user data to a credit score which generates a data-set for training supervised models. We have explored several classification models in our experiments and illustrated the effectiveness of our modeling approach.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116129690","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
N. H. Tien, N. T. Hung, N. M. Duc, Tran Duy Thuc, D. Anh
{"title":"Strategic Dimension of Social Entrepreneurship in Vietnam","authors":"N. H. Tien, N. T. Hung, N. M. Duc, Tran Duy Thuc, D. Anh","doi":"10.18178/ijtef.2020.11.1.658","DOIUrl":"https://doi.org/10.18178/ijtef.2020.11.1.658","url":null,"abstract":"This article delivers a full insight into the concepts of social enterprise, social entrepreneurship, their sustainability issues and strategic understanding. Despite different nature, determinant factors, motivation and purpose, as well as orientation towards sustainable development of commercial and social enterprises the results of analysis show that both form of extant entrepreneurship could to stay together to successfully bridge, create synergy effect between social and commercial capital for the mutual development. However, the article revealed that in contrast to the commercial entrepreneurship, social entrepreneurship currently lacks and needs more strategic understanding (and its reflection in the reality) to be benefitted from in order to support overall sustainable entrepreneurship development in rural areas of Vietnam. Finally, the article proposed solutions to enhance social entrepreneurship and promote its expansion for the purpose of sustainable development.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114195287","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Gian Paolo Stella, U. Filotto, Enrico Maria Cervellati
{"title":"Could Financial Literacy Become a Key Variable to Examine Social and Economic Inequalities? A Study on Italian Regions","authors":"Gian Paolo Stella, U. Filotto, Enrico Maria Cervellati","doi":"10.18178/ijtef.2020.11.1.657","DOIUrl":"https://doi.org/10.18178/ijtef.2020.11.1.657","url":null,"abstract":"Italy is characterized by deep regional inequalities. Macroeconomic variables like Gross Domestic Product (GDP), GDP per capita and social exclusion rate, allow to compare Italian regions, but nowadays it is even more important to dig in the consequence of these inequalities, and to get insights that may help explaining financial fragility. The inability to take proper financial decisions has negative effect for young adults in particular, since they are more vulnerable than adults. We try to verify if the observed inequalities in Italy are linked to different levels of financial literacy among young adults in distinct regions. We test the level of financial literacy on young adults depending on their regions of birth and compare the results with inequalities in GDP, poverty and social exclusion. We find evidence suggesting that young adults’ financial literacy is a key variable to examine these inequalities.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"266 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132496200","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Trust Role in Acceptance of Digital Banking in Indonesia","authors":"Nurrani Kusumawati, Azzahra Almadelia Rinaldi","doi":"10.18178/ijtef.2020.11.1.659","DOIUrl":"https://doi.org/10.18178/ijtef.2020.11.1.659","url":null,"abstract":"The technology advance creates digital banking as a new technology in banking industry. All banking activities can be solved by one application in smartphone, they do not even provide an offline branch. Many Indonesian customers still use the conventional bank instead of digital banking since it is a new product and technology in bank industry. This paper aims to elaborate the influence of trust in customer acceptance of digital banking technology in Indonesia. The researchers applied quantitative survey with distributed the questionnaires to 500 respondents in conducted the research. The outcome indicates that hedonic motivational factors, habits, and trust have significant results on behavioral intentions to use, meanwhile trust has influence to performance expectancy, effort expectancy and facilitating condition.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114489453","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Yin-Ju Chang, Shieh-Liang Chen, Tzong-Shyuan Che, Jui-Yuan Chu
{"title":"Analysis on Seasonality of Accommodation Demand for Tourist Hotels","authors":"Yin-Ju Chang, Shieh-Liang Chen, Tzong-Shyuan Che, Jui-Yuan Chu","doi":"10.18178/ijtef.2019.10.6.651","DOIUrl":"https://doi.org/10.18178/ijtef.2019.10.6.651","url":null,"abstract":"Seasonality is an important feature of the tourism industry, and one of the greatest disturbing factors affecting related business operation in the industry. This study used the structural time series model to analyze the seasonality of the accommodation demand for tourist hotels, and this method can test the stochasticity of seasonality and observe the seasonal pattern changes, which makes itself a very good way to explore the seasonality of tourism. The empirical results show that the accommodation demands for tourist hotels in all 7 areas are all obviously seasonal and stochastic. The seasonal pattern of tourist hotel accommodation demand of Taipei area, and Taoyuan, Hsinchu, and Miaoli area are similar; the pattern of Kaohsiung area and Taichung area are also similar to each other; and Hualien area, scenic area and other areas are similar in their seasonal pattern, mainly due to the difference in the structure of tourist sources. Faced with the seasonal changes, hoteliers can adopt the strategy of price differentiation, cooperate with other industries and hold events, conferences and exhibitions with the local government to expand the tourist source and increase the room occupancy rate.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115580991","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}