L. Sringernyuang, Buraskorn Torut, M. S. Felix, Saisuda Vongjinda, Ubonwan Chaimongkol
{"title":"Determinants for successful loan credits for older people in Thailand","authors":"L. Sringernyuang, Buraskorn Torut, M. S. Felix, Saisuda Vongjinda, Ubonwan Chaimongkol","doi":"10.55493/5002.v13i2.4714","DOIUrl":"https://doi.org/10.55493/5002.v13i2.4714","url":null,"abstract":"Aging populations are gradually creating financial distress for governments, and Thailand is no exception. Effective policies for improving elderly welfare must be formulated since the population shift to older age is moving at a faster pace than economic growth. Older people prefer to live actively and independently in order to be less burdensome to their family members and are actively engaged in activities, either voluntarily or because of necessity, even after retirement age. The Thai government initiated a microcredit scheme for eligible older people in order to overcome the difficulty of gaining access to credit. The objective of this research is to explore and evaluate the effectiveness of the Older Persons Fund (OPF) organized by the Thai government to provide seed money for loans to promote active aging in Thailand. Data were collected nationwide using stratified sampling in urban and rural districts from members affiliated with the Older Persons Fund. Structured interviews were conducted with 578 loan recipients. The methodology includes inferential statistics and the multinomial logit choice probabilities model to determine the factors for successful active aging of the loan recipients. The results indicate that the purpose of the loan is a significant factor for a successful outcome. The results also imply that older people provide input into the economy and are not a burden on government expenditure in the long run by promoting active aging projects through microcredit schemes in Thailand.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"259 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72991323","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":"Working capital management and profitability of listed manufacturing companies in selected African countries","authors":"Raji Sadiq Ademola, Adenikinju Olayinka Omolara","doi":"10.55493/5002.v13i2.4710","DOIUrl":"https://doi.org/10.55493/5002.v13i2.4710","url":null,"abstract":"There is a need for manufacturing companies to monitor their working capital for the purpose of ensuring continuity. This study examined the effect of working capital management on the profitability of listed manufacturing companies in selected African countries from 2014 to 2019. The selected countries are Botswana, Ghana, Kenya, Nigeria, South Africa and Zambia. The criteria for selecting these countries were that they must have a functional stock exchange and be a member of the Commonwealth of nations for the sample period. The data were extracted from the respective countries’ stock exchanges from 2014 to 2019 and were analyzed using descriptive statistics (to compare performance across countries), a panel unit test, and the panel fully modified least squares method. The findings show that net profit ratio (NPR) varies across the countries based on different practices. The study also discovered that the account receivables period and cash conversion cycle have a positive and significant relationship with financial profitability. Account payment period and inventory management have a positive and insignificant relationship with profitability. The study recommends that emphasis should be placed on the components of working capital policy to ensure survival of the company because of its impact on profitability.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"71 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85584928","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":"Sustainable entrepreneurship in Malaysian companies","authors":"Cheah Wen Fong, Yuen Yee Yen, Suganthi Ramasamy","doi":"10.55493/5002.v13i2.4708","DOIUrl":"https://doi.org/10.55493/5002.v13i2.4708","url":null,"abstract":"Sustainable entrepreneurship refers to the economic, social, and environmental value creation across enterprises in Malaysia. When examining sustainable entrepreneurship in Malaysian companies, small and medium-sized enterprises (SMEs), which serve as the backbone of the Malaysian economy and account for 97.2% of businesses and generate 38.2% of the gross domestic product, cannot be overlooked. The research is the first study in Malaysia, which extends the entrepreneurial event model to develop a comprehensive research framework to examine and propose suggestions to improve sustainable entrepreneurship in SMEs. A questionnaire was distributed to 400 entrepreneurs from SMEs in central regions in Malaysia, and 300 complete and valid questionnaires were used for the analysis. All constructs in the questionnaire were tested and confirmed to have high convergent validity and high composite reliability. The results show that perceived desirability, perceived feasibility and propensity to act have a positive effect on sustainable entrepreneurship in SMEs. Young entrepreneurs under 40 years old show greater propensity to act on sustainable entrepreneurship compared to older entrepreneurs aged over 40 years old. This research offers practical and theoretical new insights for SMEs, entrepreneurs, employees, and institutions toward improving sustainable entrepreneurship in a developing nation in Asia.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136198134","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":"Factors Shaping Euro and Forint Cash Holding Ratios : The Rise of Cash Demand for Savings Purposes from the Turn of the Millennium","authors":"Anikó Bódi-Schubert, Ildikó Ritzlné Kazimir","doi":"10.33893/fer.22.3.67","DOIUrl":"https://doi.org/10.33893/fer.22.3.67","url":null,"abstract":"This study reviews the factors shaping forint and euro cash demand for savings purposes by examining the cash holding ratio. Forint and euro cash holding ratios are both rising, which points to an increase in cash savings. According to the results, in the long run, the cash demand for savings purposes is determined by traditional variables such as wealth and yields, along with uncertainty, the price of financial services and the institutional environment. In the short run, the change in uncertainty and the evolution of short interest rates dominate. Crises and the sudden shifts in the institutional environment lead to a shock, with large growth in the cash holding ratio for both currencies.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"2015 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135801319","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":"Horizontal and Vertical Value Creation in Bankrobotics and the AI-Washing Phenomenon","authors":"Alexandra Prisznyák","doi":"10.33893/fer.22.3.97","DOIUrl":"https://doi.org/10.33893/fer.22.3.97","url":null,"abstract":"Artificial intelligence, machine learning, intelligent robots and related innovative technologies are emerging as driving forces that are reprogramming the traditional remnants of the banking sector. The purpose of this groundbreaking study is to localise the concept of bankrobotics, clarify the conceptualisation of bankrobotics technologies and analyse their applications in banking. Their value creation is interpreted along vertical and horizontal dimensions. On the basis of in-depth interviews, the approach and implementation of their organisational adoption are discussed, along with the factors inhibiting value creation. The author proposes the classification of partner chain-based AI systems, the introduction of incident databases and the establishment of disclosure obligations regarding investments in bankrobotics, to avoid the spread of the AI-washing phenomenon in the banking sector.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135801321","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}
Gabriella Grosz, Gábor Izsák, A. Palicz, Katinka Szász
{"title":"Improving Access to Credit for First-Time Home Buyers under Borrower-Based Measures","authors":"Gabriella Grosz, Gábor Izsák, A. Palicz, Katinka Szász","doi":"10.33893/fer.22.2.25","DOIUrl":"https://doi.org/10.33893/fer.22.2.25","url":null,"abstract":"As a result of the dynamic rise in real estate prices in recent years, house prices, and therefore the minimum down payment required to obtain a mortgage, more than tripled by 2022 compared to 2014. This led to a deterioration of access to borrowing opportunities typically for young first-time home buyers aged 35 or younger, especially among clients who are not eligible for family support schemes. In this paper, we provide a detailed overview of the potential side effects of the borrower-based measure framework on first-time home buyers. Relative to their credit risk, these clients may be more severely affected by borrower-based measures, generating negative second-round effects. Therefore, in their case preferential limits may be applied, in line with international practice, notably on the level of down payment. However, when making such a decision, it is important to take into account the development of risks in the housing and credit markets and the macroeconomic environment.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"25 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82589601","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":"Challenges in the CSR–Competitiveness Relationship Based on the Literature","authors":"Adrienn Reisinger","doi":"10.33893/fer.22.1.104","DOIUrl":"https://doi.org/10.33893/fer.22.1.104","url":null,"abstract":"The paper examines why there is no consistent answer in either the domestic or the international literature on the relationship between corporate social responsibility and competitiveness and the reasons behind this. The topic has been present in the international literature since the 1970s and has come to the fore in Hungary in the last 15 years. There are many different answers concerning the type of relationship between the two concepts, for a variety of reasons. Drawing on previous research, the paper presents a uniform system, details the causes identified and provides a theoretical framework for empirical research to ensure a complex approach and interpretation.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"188 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74430506","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":"Globalisation versus Deglobalisation","authors":"Péter Halmai","doi":"10.33893/fer.22.2.5","DOIUrl":"https://doi.org/10.33893/fer.22.2.5","url":null,"abstract":"One of the biggest questions in recent years concerns the future of globalisation. Some argue that the rivalry between the USA and China, certain trade policy restrictions and the repercussions of the coronavirus pandemic that threatened global production and supply chains could mean the end of globalisation. In fact, however, we are witnessing a fundamental transformation of the globalised world economy. Identifying the main directions of change is a crucial task for economists as well as a precondition for prudent economic policy action.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"103 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85910516","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}
András Havas, Levente Jánoskuti, Márta Matécsa, Tamás Vecsernyés, Kata Hörcsig
{"title":"Start-Up Ecosystem: Proposals for Fuelling the Hungarian Start-Up Scene","authors":"András Havas, Levente Jánoskuti, Márta Matécsa, Tamás Vecsernyés, Kata Hörcsig","doi":"10.33893/fer.22.3.5","DOIUrl":"https://doi.org/10.33893/fer.22.3.5","url":null,"abstract":"The essay examines the role of the start-up ecosystem in the economy. It offers an international outlook to analyse the features of the Hungarian system, points out areas for development and reviews international best practices. The examination shows that overarching cooperation among economic actors could engender a startup scene where not only 30,000 new high value-added jobs would be created, but also around EUR 1.3 billion in direct funding would appear in the economy.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135839464","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":"Inflation Shocks and Disinflation: Stylised Facts from the Past 50 Years","authors":"Balázs Spéder, Balázs Vonnák","doi":"10.33893/fer.22.3.26","DOIUrl":"https://doi.org/10.33893/fer.22.3.26","url":null,"abstract":"In our study, we examine the circumstances under which major inflation shocks lead to persistently high inflation. For our analysis, we use macroeconomic data from a broad sample of countries for the past fifty years or more. We identify several cases where inflation rises from the single-digit range to above 20 per cent, followed by successful disinflation within two years. Similarly, there are many examples where inflation remains high after an initial shock. The former cases are characterised by more pronounced increases in interest rates during inflation shocks, more disciplined fiscal policy and favourable commodity price developments. Examining the same sample, we also show that the disinflation after a period of persistently high inflation was not typically accompanied by a significant slowdown in the real economy and instead was often followed by higher economic growth. In the disinflationary episodes we identified, the size of the real cost of disinflation is negatively correlated with the central bank independence, suggesting that a disinflationary commitment played a positive role.","PeriodicalId":53424,"journal":{"name":"Asian Economic and Financial Review","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135839466","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}