- E-ISSN2288-2766
- KCI
E-ISSN : 2288-2766
Vol.12 No.2
Abstract
Purpose: This study delves into the application of the Ohlson 1995 valuation model, particularly addressing the intricacies of the "Other information" variable. Our goal is to pinpoint the most suitable variables for substitution within this category, focusing specifically on the Mongolian Stock Exchange (MSE) context. Research design, data, and methodology: Employing data spanning from 2012 to 2022 from 60 MSE-listed companies, we conduct a comprehensive analysis encompassing both financial and non-financial indicators. Through meticulous examination, we aim to identify which variables effectively substitute for the "Other information" component of the Ohlson model. Results: Our findings reveal significant outcomes. While all financial variables within the model exhibit importance, certain non-financial indicators, notably the company's level and state ownership participation, emerge as particularly influential in determining stock prices on the MSE. Conclusions: This study not only contributes to a deeper understanding of valuation dynamics within the MSE but also provides actionable insights for future research endeavors. By refining key variables within the Ohlson model, this research enhances the accuracy and efficacy of financial analysis practices. Moreover, the implications extend to practitioners, offering valuable insights into the determinants of stock prices in the MSE and guiding strategic decision-making processes.
Abstract
Purpose: This study compares Korean and Chinese consumers on the impact of customer equity on trust. Although there have been many studies regarding the impact of customer equity, most of them are limited to the retail and banking industry and mostly compare East and West cultures. Therefore, this study compares Korea and China within East Asia in the hotel industry. Research design, data and methodology: Based on reviews in the literature, this study explores different effects of customer equity on brand trust between Korea and China. To confirm the hypotheses, the research collected survey data from 186 Korean and 155 Chinese respondents. After confirming reliability and validity of measures, this study conducted a multiple regression to test proposed hypotheses. Results: The results of the study showed that all of three customer equities influences on trust positively in the hotel industry. Regarding comparing Korea and China, brand equity has stronger impact on trust in Chinese customers than South Korean customers, on the other hand, value equity and relationship equity had a slightly stronger positive effect in South Korea than in China. Conclusions: This study found significant differences between Korean and Chinese customers in the hotel industry. These results show that even two countries in the same region of East Asia, South Korea and China, are different. Also, this finding suggests that hotel management level should consider differentiating their marketing strategies for Korean and Chinese customers.
Abstract
Purpose: In the era of global economic integration, China's doors of openness have widened, leading to increasingly frequent economic and trade exchanges between countries. Exchange rates, as a crucial economic lever for regulating foreign markets, play a vital role in the balanced development of a nation's international trade. Therefore, the relationship between exchange rate fluctuations and foreign trade has garnered widespread attention. Research design, data and methodology: This study utilizes import and export trade data between China and five ASEAN countries from 1998 to 2019. It employs regression analysis to examine the specific impact of the real effective exchange rate of the Renminbi on China's import and export trade with these ASEAN nations. Results: The empirical analysis yields the following conclusions: Firstly, the real effective exchange rate of the Renminbi exhibits a long-term stable relationship with China's import and export trade with the five ASEAN countries. Renminbi appreciation contributes to an increase in export trade volume but is detrimental to import trade. While this conclusion may deviate from classical trade theories, it aligns with the practical realities of China's foreign trade. Secondly, the coefficients before Gross Domestic Product (GDP) all display positive values, indicating that the growth of total economic demand has a stimulating effect on China's import and export trade.
Abstract
Purpose: The primary objective of this study was to examine the influence of economic democratization on economic development from diverse perspectives. Research design, Data methodology: Justification of the qualitative literature methods used in this study is essential, as extensive descriptions, justifications, and explanations of the methods used allow researchers to increase the reliability of their studies for specific or specified audiences. Initially, the concept and principal attributes of economic democratization were scrutinized, followed by an exploration of its manifold effects on economic development. Results: Consequently, this study facilitated a comprehensive comprehension of how economic democratization fosters economic growth and advancement in contemporary society. Additionally, the study deliberated on the constraints and hurdles of economic democratization, proposing policy recommendations for future mitigation. Conclusion: In conclusion, this study is anticipated to furnish foundational data for regional economic development to both academia and policymakers. It achieves this by thoroughly evaluating the impact of economic democratization on economic development and delving into the dynamic interaction between democracy and economic progress.
Abstract
Purpose: With the growth of the hospitality industry, it is imperative to identify how smart tourism characteristics may be used in hotel management. Current and emerging technologies such as analytic tools, automation, and Artificial Intelligence (AI) help to create value for the guests while also contributing to waste reduction, resource optimization, and increased profitability in the industry. Research design, data and methodology: The literature review was conducted to examine a broad scope of research in analyzing smart tourism characteristics for the improved management of hotels and establish the necessary background for this issue. The analysis was employed to specify the systematic approach of selecting, scrutinizing, and integrating the source of information. Results: According to the systematic literature analysis, four smart tourism characteristics have been established, which can improve various aspects of hotel management. They are as follows: (1) Smart Guest Experience Management, (2) Smart Operations and Resource Management, (3) Smart Customer Relationship Management, and (4) Smart Destination Management. Conclusions: The findings expose the radical approach that smart tourism characteristics take towards the management of hotels. The developments in IT and science-oriented solutions have opened greater opportunities as the hotel industry can enhance clients' satisfaction, productivity, and participation in environmental conservation initiatives for tourism.
Abstract
Purpose: The present study investigates if the type of organizational culture influences the level of job-related stress. This study is significant because creating the need to explore the concept to become more informed on the best practices to promote and foster a positive culture that prioritizes workers, it could result in a healthier workforce, improved organizational performance, and success. Research design, data and methodology: Examining previous studies by other researchers was the primary research tool for this study. The organized approach of gathering data and assessing related work was vital in developing a fundamental basis for advancing knowledge on this concept while enhancing theory development and drawing more informed conclusion. Results: These four types, including the clan, adhocracy, hierarchical, and market cultures, contribute significantly in revealing four associations between the two variables, including (i) supportive culture and reduced stress, (ii) high pressure and increased stress, (iii)autonomous culture and variable stress levels, and (iv) open culture and low-stress levels. Conclusions: The literature affirms a multifaceted link between employee workplace stress and organizational culture type. The findings show that these cultures are crucial in influencing the level of stress among employees. All four types were hypothesized to have a significant relationship with job stress.
