Search results for: Asian stock markets

Authors: Eylem Güzel, Soner Güler, Mustafa Gülen

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Masonry is the oldest building materials since ancient times. Adobe, stone, brick are the most widespread materials used in the construction of masonry buildings. Masonry buildings compose of a large part of building stock especially in rural areas and underdeveloped regions of Turkey. The seismic performance of adobe masonry buildings is vulnerable against earthquake effects. In this study, after 2011 Van earthquake with magnitude 7.2 Mw, damages occurred in existing adobe masonry buildings in Van city is investigated. The observed damages and reasons of adobe masonry buildings in design and construction phase are specified and evaluated.

Keywords: adobe masonry buildings, earthquake effects, damages, seismic performance

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Authors: Cahyaningsih Cahyaningsih, Fu'ad Rakhman

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This study examines empirically the association between corporate social responsibility (CSR) and tax avoidance. This study also investigates the effect of earnings on the relation between CSR and tax avoidance. Effective tax rate (ETR) and cash effective tax rate (CETR) were used to measure tax avoidance. Corporate social responsibility fund (CSRF) and corporate social responsibility disclosure (CSRD) were used as proxies for CSR. Test was conducted for public firms which were listed in the Indonesia Stock Exchange during the period of 2011-2014. Based on slack resource theory, this study finds that the relation between CSR and tax avoidance is moderated by earnings.

Keywords: corporate social responsibility disclosure, corporate social responsibility fund, earnings, tax avoidance

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Authors: Kyoko Monden

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Tourism has moved to the forefront of national attention in Japan since September of 2013 when Tokyo won its bid to host the 2020 Summer Olympics. The number of foreign tourists has continued to break records, reaching 13.4 million in 2014, and is now expected to hit 20 million sooner than initially targeted 2020 due to government stimulus promotions; an increase in low cost carriers; the weakening of the Japanese yen, and strong economic growth in Asia. The tourism industry can be an effective trigger in Japan’s economic recovery as foreign tourists spent two trillion yen ($16.6 million) in Japan in 2014. In addition, 81% of them were all from Asian countries, and it is essential to know that 68.9% of the world’s Muslims, about a billion people, live in South and Southeast Asia. An important question is ‘Do Muslim tourists feel comfortable traveling in Japan?’ This research was initiated by an encounter with Muslim visitors in Hiroshima, a popular international tourist destination, who said they had found very few suitable restaurants in Hiroshima. The purpose of this research is to examine halal implementation in Hiroshima and suggest the next steps to be taken to improve current efforts. The goal will be to provide anyone, Muslims included, with first class hospitality in the near future in preparation for the massive influx of foreign tourists in 2020. The methods of this research were questionnaires, face-to-face interviews, phone interviews, and internet research. First, this research aims to address the significance of growing inbound tourism in Japan, especially the expected growth in Muslim tourists. Additionally, it should address the strong popularity of eating Japanese foods in Asian Muslim countries and as ranked no. 1 thing foreign tourists want to do in Japan. Secondly, the current incipient stage of Hiroshima’s halal implementation at hotels, restaurants, and major public places were exposed, and the existing action plans by Hiroshima Prefecture Government were presented. Furthermore, two surveys were conducted to clarify basic halal awareness of local residents in Hiroshima, and to gauge the inconveniences Muslims living in Hiroshima faced. Thirdly, the reasons for this lapse were observed and compared to the benchmarking data of other major tourist sites, Hiroshima’s halal implementation plans were proposed. The conclusion is, despite increasing demands and interests in halal-friendly businesses, overall halal actions have barely been applied in Hiroshima. 76% of Hiroshima residents had no idea what halal or halaal meant. It is essential to increase halal awareness and its importance to the economy and to launch further actions to make Muslim tourists feel welcome in Hiroshima and the entire country.

Keywords: halaal, halal implementation, Hiroshima, inbound tourists in Japan

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Authors: Hyuk-Jin Lee

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Even though 23 years have passed in the 21st century, nation-state and nationality-centered cultural identities are still the sentiments and ideologies that dominate the world. Nevertheless, as seen in many cases in Europe, a new perspective is needed to recognize mutual exchanges and influences and to view them as natural cultural exchanges between countries. The situation in East Asia is completely different from Europe. This is presumed to be from the long tradition of having an ethnocentric state concept for at least hundreds of years, quite different from Europe, where the concept of a nation-state was established relatively recently. In other words, unlike Europe, where active exchanges took place, the problem stems from the unique characteristics of East Asia, which has a strong tradition of finding its identity in 'difference'. Thus, it would not be hard to find cultural studies or news of the three East Asian countries emphasizing differences among one another. This applies to all cultural areas, including traditional architecture. For example, in the Korean traditional architecture field, buildings with effects from neighboring countries tend to be ignored, even if they are traditional Korean architecture. In addition to this, in the case of Korea, there seems to be one more cultural harmful aftereffect caused by the 36 years of Japanese colonial rule in the early 20th century; the obsessive filtering concept of 'it must be different from Japan'. In other words, the implicit ideological coercion that the definition of 'Korean cultural heritage' should not be influenced by exchanges with Japan may be found throughout Korean studies. The architectural and cultural aspects of the vast period of time, from the Three Kingdoms era to the beginning of Joseon, which was a period in which cultural influence exchanges with neighboring countries were relatively strong compared to the late Joseon Dynasty, also reflect the 'distorted filtering' caused by finding a repulsive identity against the Japanese colonial period. It is important to look the cultural heritage and traditions as they are inductively, not deductively. If not, we may often ignore or limit our own precious cultural heritage. Conversely, If Baekje, the ancient Korean Kingdom, helped Japan in construction and craftsmen played a big role in building the ancient temple, it would be a healthier perspective to view it as a cultural exchange rather than proudly seeing it as a cultural owner's perspective because this point of view is a proper reconstruction of our ancient and medieval Asian culture (strictly speaking, the color common to East Asia at the time). In particular, this study will examine this topic by giving specific examples from each field of Korean cultural studies. In the search for cultural identity, it would be more helpful for healthy relations between countries and collaborative research in the sensitive part of the interpretation of historical facts as well as cultural circles to minimize excessive meanings on originality and difference.

Keywords: cultural heritage identity, cultural ideology, East Asia, Korea

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Authors: Riddhi Chopra

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Alfred Thayer Mahan described the sea as a ‘great common,’ which would serve as a medium for communication, trade, and transport. The seas of Asia are witnessing an intriguing historical anomaly – rise of an indigenous maritime power against the backdrop of US domination over the region. As China transforms from an inward leaning economy to an outward-leaning economy, it has become increasingly dependent on the global sea; as a result, we witness an evolution in its maritime strategy from near seas defense to far seas deployment strategies. It is not only patrolling the international waters but has also built a network of civilian and military infrastructure across the disputed oceanic expanse. The paper analyses the reorientation of China from a naval power to a blue water navy in an era of extensive globalisation. The actions of the Chinese have created a zone of high alert amongst its neighbors such as Japan, Philippines, Vietnam and North Korea. These nations are trying to align themselves so as to counter China’s growing brinkmanship, but China has been pursuing claims through a carefully calibrated strategy in the region shunning any coercive measures taken by other forces. If China continues to expand its maritime boundaries, its neighbors – all smaller and weaker Asian nations would be limited to a narrow band of the sea along its coastlines. Hence it is essential for the US to intervene and support its allies to offset Chinese supremacy. The paper intends to provide a profound analysis over the disputes in South China Sea and East China Sea focusing on Philippines and Japan respectively. Moreover, the paper attempts to give an account of US involvement in the region and its alignment with its South Asian allies. The geographic dynamics is said the breed a national coalition dominating the strategic ambitions of China as well as the weak littoral states. China has conducted behind the scenes diplomacy trying to persuade its neighbors to support its position on the territorial disputes. These efforts have been successful in creating fault lines in ASEAN thereby undermining regional integrity to reach a consensus on the issue. Chinese diplomatic efforts have also forced the US to revisit its foreign policy and engage with players like Cambodia and Laos. The current scenario in the SCS points to a strong Chinese hold trying to outspace all others with no regards to International law. Chinese activities are in contrast with US principles like Freedom of Navigation thereby signaling US to take bold actions to prevent Chinese hegemony in the region. The paper ultimately seeks to explore the changing power dynamics among various claimants where a rival superpower like US can pursue the traditional policy of alliance formation play a decisive role in changing the status quo in the arena, consequently determining the future trajectory.

Keywords: China, East China Sea, South China Sea, USA

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Authors: M. J. Rodríguez, F. M. Sánchez, B. Velardo, P. Calvo, M. J. Serradilla, J. Delgado, J. M. López

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The main problems in storage and later transport of fruits, are the decays developed that reduce the quality on destination’s markets. Nowadays, there is an increasing interest in the use of compounds to avoid decays in post-harvest. Triazole fungicides are agrochemicals widely used in the agricultural industry due to their wide spectrum of actions, and in some case, they are used in citrus fruit post-harvest. Moreover, its use is not authorized in plum post-harvest, but in order to a future possible authorization, the evolutions of propiconazole and tebuconazole residues are studied after its post-harvest application in ‘Angeleno’ plum.

Keywords: maximum residue limit (MRL), triazole fungicides, decay, Prunus salicina

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Authors: Priyanka Patil, Logan Manikam

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Background: The first 1000 days of life are a critical window and can result in adverse health consequences due to inadequate nutrition. South-Asian (SA) communities face significant health disparities, particularly in maternal and child health. Community-based interventions, often employing Participatory-Learning and Action (PLA) approaches, have effectively addressed health inequalities in lower-income nations. The aim of this study was to assess the feasibility of implementing a PLA intervention to improve infant feeding and care practices in SA communities living in London. Methods: Comprehensive analyses were conducted to assess the feasibility/fidelity of this pilot randomized controlled trial. Summary statistics were computed to compare key metrics, including participant consent rates, attendance, retention, intervention support, and perceived effectiveness, against predefined progression rules guiding toward a definitive trial. Secondary outcomes were analyzed, drawing insights from multiple sources, such as The Children’s-Eating-Behaviour Questionnaire (CEBQ), Parental-Feeding-Style Questionnaires (PFSQ), Food-diary, and the Equality-Impact-Assessment (EIA) tool. A video analysis of children's mealtime behavior trends was conducted. Feedback interviews were collected from study participants. Results: Process-outcome measures met predefined progression rules for a definitive trial, which deemed the intervention as feasible and acceptable. The secondary outcomes analysis revealed no significant changes in children's BMI z-scores. This could be attributed to the abbreviated follow-up period of 6 months, reduced from 12 months, due to COVID-19-related delays. CEBQ analysis showed increased food responsiveness, along with decreased emotional over/undereating. A similar trend was observed in PFSQ. The EIA tool found no potential discrimination areas, and video analysis revealed a decrease in force-feeding practices. Participant feedback revealed improved awareness and knowledge sharing. Conclusion: This study demonstrates that a co-adapted PLA intervention is feasible and well-received in optimizing infant-care practices among South-Asian community members in a high-income country. These findings highlight the potential of community-based interventions to enhance health outcomes, promoting health equity.

Keywords: child health, childhood obesity, community-based, infant nutrition

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Authors: Shoji Katagiri

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This paper is to clarify the relationship between ICT and income inequality. To do so, we develop the general equilibrium model with ICT investment, obtain the equilibrium solutions, and then simulate the model with these solutions for some OECD countries. As a result, generally, during the corresponding periods we confirm that the relationship between ICT investment and income inequality is positive. In this mode, the increment of the ratio of ICT investment to the aggregated investment in stock enhances the capital’s share of income, and finally leads to income inequality such as the increase of the share of the top decile income. Although we confirm the positive relationship between ICT investment and income inequality, the upward trend for that relationship depends on the values of parameters for the making use of the simulations and these parameters are not deterministic in the magnitudes on the calculated results for the simulations.

Keywords: ICT, inequality, capital accumulation, technology

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Authors: Ibrahim Ali, Adamu Danlami Ahmed

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This study examines the impact of depreciation on taxable income and financial performance of consumer goods companies quoted on the Nigerian stock exchange. The study adopts ex-post factor research design. Data were collected using a secondary source. The findings of the study suggest that, method of depreciation adopted in any organization influence the taxable profit. Depreciation techniques can either be: depressive, accelerative and linear depreciation. It was also recommended that consumer goods should adjust their method of depreciation to make sure an appropriate method is adopted. This will go a long way to revitalize their taxable profit.

Keywords: accelerated, linear, depressive, depreciation

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Authors: Mohammad Sarchami, Mohsen Zeinalkhani

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Always, financial reporting system faces some problems to win public ear. The increase in the number of fraud and representation, often combined with the bankruptcy of large companies, has raised concerns about the quality of financial statements. So, investors, legislators, managers, and auditors have focused on significant fraud detection or prevention in financial statements. This article aims to investigate the Sugeno fuzzy classification to consider fraud detection in financial reporting of accepted firms by Tehran stock exchange. The hypothesis is: Sugeno fuzzy classification may detect fraud in financial reporting by financial ratio. Hypothesis was tested using Matlab software. Accuracy average was 81/80 in Sugeno fuzzy classification; so the hypothesis was confirmed.

Keywords: fraud, financial reporting, Sugeno fuzzy classification, firm

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Authors: Fayiz Saifurahman, Noori Fida Mohammad

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Afghanistan produces the highest rate of wheat, it is the first source of food, and food security in Afghanistan is dependent on the availability of wheat. Although Afghanistan is the main producer of wheat, on the other hand, Afghanistan is the largest importers of flour. The objective of this study is to assess the structure and dynamics of the wheat market in Afghanistan, can compute with foreign markets, and increase the level of production. To complete this, a broad series of secondary data was complied with, group discussions and interviews with farmers, agricultural and market experts. The research findings propose that; the government should adopt different policies to support the local market. The government should distribute the seed, support financially and technically to increase wheat production.

Keywords: Afghanistan, wheat, production , import

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Authors: Bastian Haarmann, Likas Sikorski

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In this paper, we introduce an NLG application for the automatic creation of ready-to-publish texts from big data. The fully automatic generated stories have a high resemblance to the style in which the human writer would draw up a news story. Topics may include soccer games, stock exchange market reports, weather forecasts and many more. The generation of the texts runs according to the human language production. Each generated text is unique. Ready-to-publish stories written by a computer application can help humans to quickly grasp the outcomes of big data analyses, save time-consuming pre-formulations for journalists and cater to rather small audiences by offering stories that would otherwise not exist.

Keywords: big data, natural language generation, publishing, robotic journalism

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Authors: Toan Vu Duc, Son Ha Viet

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This research presents the first comprehensive survey of congener profiles (7 indicator congeners) of polybrominated diphenyl ethers (PBDEs) in sediment samples covering ten sites in CauBay River, Vietnam. Chemical analyses were carried out in gas chromatography–mass spectrometry (GC–MS) for tri- to hepta- brominated congeners. Results pointed out a non-homogenous contamination of the sediment with ∑7 PBDE values ranging from 8.93 to 25.64ng g−1, reflecting moderate to low contamination closely in conformity to other Asian aquatic environments. The general order of decreasing congener contribution to the total load was: BDE 47 > 99 > 100 > 154, similar to the distribution pattern worldwide. PBDEs had rare risks in the sediment of studied area. However, due to the propensity of PBDEs to accumulate in various compartments of wildlife and human food webs, evaluation of biological tissues should be undertaken as a high priority.

Keywords: residue, risk assessment, PBDEs, sediment

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Authors: Mohammadsadegh Zanganehfar

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Since the introduction of fractal geometry in 1970, numerous efforts have been made by architects and researchers to transfer this area of mathematical knowledge in the discipline of architecture and postmodernist discourse. The discourse of complexity and architecture is one of the most significant ongoing discourses in the discipline of architecture from the '70s until today and has generated significant styles such as deconstructivism and parametrism in architecture. During these years, several projects were designed and presented by designers and architects using fractal geometry, but due to the lack of sufficient knowledge and appropriate comprehension of the features and characteristics of this nonlinear geometry, none of the fractal-based designs have been successful and satisfying. Fractal geometry as a geometric technology has a long presence in the history of architecture. The current research attempts to identify and discover the characteristics, features, potentials, and functionality of fractals despite their aesthetic aspect by examining case studies of pre-modern architecture in Asia and investigating the function of fractals.

Keywords: Asian architecture, fractal geometry, fractal technique, geometric properties

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Authors: Akkouche Karim, Nekmouche Aghiles, Bouzid Leyla

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This study focuses on the development of a multifunctional Expert System (ES) called post-seismic damage inspection tool (PSDIT), a powerful tool which allows the evaluation, the processing and the archiving of the collected data stock after earthquakes. PSDIT can be operated by two user types; an ordinary user (engineer, expert or architect) for the damage visual inspection and an administrative user for updating the knowledge and / or for adding or removing the ordinary user. The knowledge acquisition is driven by a hierarchical knowledge model, the Information from investigation reports and those acquired through feedback from expert / engineer questionnaires are part.

Keywords: buildings, earthquake, seismic damage, damage assessment, expert system

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Authors: Nadia Sghaier

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In this paper, we aim to identify the determinants of the life and non-life insurance premiums of different lines for the case of the Tunisian insurance market over a recent period from 1997 to 2019. The empirical analysis is conducted using the linear cointegration techniques in the panel data framework, which allow both long and short-run relationships. The obtained results show evidence of long-run relationship between premiums, losses, and financial variables (stock market indices and interest rate). Furthermore, we find that the short-run effect of explanatory variables differs across lines. This finding has important implications for insurance tarification and regulation.

Keywords: insurance premiums, lines, Tunisian insurance market, cointegration approach in panel data

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Authors: Amirhossen Zare Rahvard

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Freemium games based on the gacha mechanic have proven highly successful in recent years - games with simple graphics and simple gameplay systems but with a highly profitable market. Attempts at developing gacha games have even been made in Iran. Since gacha games are both profitable and easy to develop, they seem to be a suitable starting point for establishing a video game market in underdeveloped countries. This article aims to review the gacha games' approach to gaining revenue by studying the case of Arknights game in order to draw an outline of how simple games have led to great markets.

Keywords: gacha games, game’s economy, underdeveloped countries and games, arkngihts

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Authors: Fitri Rahmi Fadhilah, Edhyana Sahiratmadja, Ani Melani Maskoen, Ratu Safitri, Supartini Syarif, Herman Susanto

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Cervical cancer is the second most common cancer in women after breast cancer. In Indonesia, the incidence of cervical cancer cases is estimated at 25-40 per 100,000 women per year. Human papillomavirus (HPV) infection is a major cause of cervical cancer, and HPV-16 is the most common genotype that infects the cervical tissue. The major late protein L1 may be associated with infectivity and pathogenicity and its variation can be used to classify HPV isolates. The aim of this study was to determine the phylogenetic tree of HPV 16 L1 gene from cervical cancer patient isolates in Bandung. After confirming HPV-16 by Linear Array Genotyping Test, L1 gene was amplified using specific primers and subject for sequencing. Phylogenetic analysis revealed that HPV 16 from Bandung was in the subgroup of Asia and East Asia, showing the close host-agent relationship among the Asian type.

Keywords: L1 HPV 16, cervical cancer, bandung, phylogenetic

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Authors: Pradyumna Mohanty

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The paper aims to explore whether accounting information of Indian companies in the Steel sector are value relevant or not. Ohlson’s model which usually takes into consideration book value per share (BV) and earnings per share (EARN) has been used and the same has been expanded to include two more variables such as cash flow from operations (CFO) and return on equity (ROE). The data were collected from CMIE-Prowess data base in respect of BSE-listed steel companies and the time frame spans from 2010 to 2014. OLS regression has been used to test the value relevance of these accounting numbers. Results indicate that both CFO and BV are having significant influence on the stock price in two out of five years of study. But, BV is emerging as the most significant and highly value relevant of all the four variables during the entire period of study.

Keywords: value relevance, accounting information, book value per share, earnings per share

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Authors: C. Slim

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Traditional techniques for analyzing time series are based on the notion of stationarity of phenomena under study, but in reality most economic and financial series do not verify this hypothesis, which implies the implementation of specific tools for the detection of such behavior. In this paper, we study nonstationary non-seasonal time series tests in a non-exhaustive manner. We formalize the problem of nonstationary processes with numerical simulations and take stock of their statistical characteristics. The theoretical aspects of some of the most common unit root tests will be discussed. We detail the specification of the tests, showing the advantages and disadvantages of each. The empirical study focuses on the application of these tests to the exchange rate (USD/TND) and the Consumer Price Index (CPI) in Tunisia, in order to compare the Power of these tests with the characteristics of the series.

Keywords: stationarity, unit root tests, economic time series, ADF tests

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Authors: Mohammad Mehdizadeh, Sara Miri

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In today's world, competition is one of the essential components of different markets. Therefore, in addition to economic factors, social factors can also affect the development and prosperity of businesses. In this regard, social networks are of particular importance and play a critical role in the flourishing and development of Internet businesses. The purpose of this article is to investigate the effect of different social networks in promoting digital entrepreneurship. The research method is the descriptive survey. The results show that social networks have a positive and significant impact on digital entrepreneurship development. Among the social networks studied, Instagram and Facebook have the most positive effect on digital entrepreneurship.

Keywords: entrepreneurship, Facebook, Instagram, social media

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Authors: Johannes Atug, Stefan Braunreuther, Gunther Reinhart

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Volatile markets, as well as increasing global competition in manufacturing, lead to a high demand of flexible and agile production systems. These advanced production systems in turn conduct to high capital expenditure along with high investment risks. Developments in production regarding digitalization and cyber-physical systems result to a merger of informational- and operational technology. The approach of this paper is to benefit from this merger and present a framework of a production network with scalable production capacity and low capital expenditure by adaptation of the IT concept 'everything as a service' into the production environment.

Keywords: digital manufacturing system, everything as a service, reconfigurable production, value network

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Authors: Yazdani Saeed, Rafiei Hamed, Nekoofar Farahnaz

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Governments Policies play a major role in national and international Markets. Pistachio is one of the most important non-oil export commodity of Iran. Therefore, in this study the relation between the producer support policies and the export of Pistachio was examined. An econometric model (VAR) was applied to test the study hypothesis. According to the estimated coefficient in VAR model, lag of producer support index has a significant and negative effect on variation of Pistachio’s export in short term. In other word, in short term, export advantage index is dependent on the amount of producers support in previous period.

Keywords: producer support, export advantage, pistachio, Iran

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Authors: Adnan Celik

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Entrepreneurs are people who attempt to do a business and do not hesitate to do so. They are involved in the production of economic goods and services through factors of production. They also find the financial resources necessary for production and the markets where the production will be evaluated. After all, they create economic values. The main function of the entrepreneur in contemporary societies is to realize innovations. From this point, the power of the modern entrepreneur is based on her/his capacity to innovate and transform his innovations into tangible commercial products. In this context, the concept of an entrepreneur is used to mean the person or persons who constantly innovate. Successful entrepreneurs take on the role of the locomotive in the development of their countries. They support economic development with their activities. In addition to production and marketing activities, it also has important contributions to employment. Along with the development of the country, they also try to make the income distribution more balanced. Especially developed country entrepreneurs intensely perform the following functions; “to produce new goods and services or to increase the quality and quality of known goods and services; ability to develop and apply new production methods; establishing new organizations in the industry; reach new markets; to find new sources from which raw materials and similar materials can be obtained”. Entrepreneurs who fully implement business functions are easier to achieve economic efficiency. Thus, they provide great advantages to the business and the national economy. Successful entrepreneurs are people who make money by creating economic values. These revenues are; on the one hand, it is distributed to individuals in the business as wages, premiums, or dividends; It is also used in the growth of companies. Thus, employees, managers, entrepreneurs and the whole country can benefit greatly. In the least developed countries, the guiding effect of traditional value patterns on individuals' attitudes and behaviors varies depending on the socio-economic characteristics of individuals. It is normal for an entrepreneur with a low level of education, who was brought up in a traditional structure, to behave in accordance with traditional value patterns. In fact, this is the primary problem of all countries in the development effort. The solution to this problem will be possible by giving the necessary importance to the social dimension as well as the technical dimension of development. This study mainly focuses on the importance of entrepreneurship for the national economy. This issue has been handled separately in terms of developed and least developed countries. As a result of the study, entrepreneurship suggestions were made, especially to least developed countries, with the goal of national economy and development.

Keywords: entrepreneur, entrepreneurship, national economy, entrepreneurship in developed and least developed countries

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Authors: Barbora Chmelikova

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Current financial markets offer a wide range of financial products to the consumers. However, access to the financial products is not always provided or guaranteed, particularly in less developed countries. For this reason, financial inclusion is an important component in the modern society. This paper investigates financial inclusion and what financial products are held by university students majoring in finance fields. The OECD methodology was used to examine the awareness and use of financial products. The study was conducted via online questionnaire at Masaryk University in the Czech Republic among finance students. The results show that the students use current and savings accounts more than any other financial products.

Keywords: financial inclusion, financial products, personal finance, university students

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Authors: Tomasz L. Nawrocki

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Due to the growing global interest of investment society in innovative enterprises, as the objective of this research was adopted to examine the investment efficiency in shares of companies with innovative characteristics in the risk-return layout. The research was carried out for companies listed on the Warsaw Stock Exchange taking into various consideration time ranges of investment. Obtained results show that in shorter periods of time, investors buy expectations connected with innovative companies and therefore the efficiency of investment in their shares is relatively high, but in the longer term expectations are revised by companies financial results, which in turn negatively affects the efficiency of investment in their shares.

Keywords: capital market, innovative company, investment strategies, risk and return analysis

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Authors: Graziele Zwielewski, Suzana R. Tolfo

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The globalization of markets, the need to develop competitive advantages and core competencies, among other things, lead organizations to increasingly cross borders to operate in other countries. The expatriation of professionals who go to work in another country besides their own becomes increasingly common. In order to generate data about this issue, research was conducted concerning the perception of expatriate employees concerning expatriation success. The research method used was case study through a qualitative approach. This research was done through interviews with five India expatriates and five China expatriates, interview with expatriate department heads and analysis of company documents. It was found that there are differences between the organizational perception and perception of expatriates of what constitutes mission success. The paper also provides suggestions for further research and suggestions for future expatriates.

Keywords: expatriation success, international assignments, success factors, success for expatriates

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Authors: Meimei Zheng

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Product personalization could not only bring new profits to companies but also provide the direction of long-term development for companies. However, the characteristics of personalized product cause some new problems. This paper investigates how companies make decisions on the supply of personalized products when facing different customer attitudes to personalized product and service, constraints due to limited capacity and updates of personalized demand information. This study will provide optimal decisions for companies to develop personalized markets, resulting in promoting business transformation and improving business competitiveness.

Keywords: demand forecast updating, limited capacity, personalized products, optimization

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Authors: Nawaporn Thongnut

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The objective was to study the process and how to prepare the accounting of the Thai temples and to study the performance and quality in the accounting preparation of the temples in accordance with the regulation. The population was the accountants and individuals involved in the accounting preparation of 17 temples in the suburban Bangkok. The measurement used in this study was questionnaire. The statistics used in the analysis are the descriptive statistic. The data was presented in the form of percentage tables to describe the data on the demographic characteristics. The study found that temple wardens were responsible for the accounting and reporting of the temples. Abbots were to check the accuracy of the accounts in the monasteries. Mostly, there was no account auditing of the monasteries from the outside. The practice when receiving income for most of the monasteries had been keeping financial document in an orderly manner.

Keywords: corporate social responsibility, creating shared value, management accountant’s roles, stock exchange of Thailand

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Authors: Septiany Trisnaningtyas

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Purpose: This research aims to examine the factors affecting the profitability of pharmaceutical company during the Covid-19 Pandemic in Indonesia. A sharp decline in the number of patients coming to the hospital for treatment during the pandemic has an impact on the growth of the pharmaceutical sector and brought major changes in financial position and business performance. Pharmaceutical companies that provide products related to the Covid-19 pandemic can survive and continue to grow. This study investigates the factors affecting the profitability of pharmaceutical company during the Covid-19 Pandemic in Indonesia associated with the number of Covid-19 cases. Design/methodology/approach: This study uses panel-data regression models to evaluate the influence of the number of Covid-19 confirmed cases on profitability of ninelisted pharmaceuticalcompanies in Indonesia. This research is based on four independent variables that were empirically examined for their relationship with profitability. These variables are liquidity (current ratio), growth rate (sales growth), firm size (total sales), and market power (the Lerner index). Covid-19 case is used as moderating variable. Data of nine pharmaceutical companies listed on the Indonesia Stock Exchange covering the period of 2018–2021 were extracted from companies’ quarterly annual reports. Findings: In the period during Covid-19, company growth (sales growth) and market power (lerner index) have a positive and significant relationship to ROA and ROE. Total of confirmed Covid-19 cases has a positive and significant relationship to ROA and is proven to have a moderating effect between company’s growth (sales growth) to ROA and ROE and market power (Lerner index) to ROA. Research limitations/implications: Due to data availability, this study only includes data from nine listed pharmaceutical companies in Indonesian Stock exchange and quarterly annual reportscovering the period of 2018-2021. Originality/value: This study focuses onpharmaceutical companies in Indonesia during Covid-19 pandemic. Previous study analyzes the data from pharmaceutical companies’ annual reports since 2014 and focus on universal health coverage (national health insurance) implementation from the Indonesian government. This study analyzes the data using fixed effect panel-data regression models to evaluate the influence of Covid-19 confirmed cases on profitability. Pooled ordinary least squares regression and fixed effects were used to analyze the data in previous study. This study also investigate the moderating effect of Covid-19 confirmed cases to profitability in relevant with the pandemic situation.

Keywords: profitability, indonesia, pharmaceutical, Covid-19

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