The paper examines the role of some determinants of economics, politics and institutions on the budget deficit volatility in some countries of the Association of South East Asian Nations (ASEAN) such as Indonesia, Thailand and Vietnam. The paper uses the fixed effects model (FEM) and the random effects model (REM) to investigate panel data of these countries in the period of 1990-2018. Moreover, the study also explores ordinary least square (OLS) to analyze time-series data for each country in the same period to make comparison among them. The economic data is collected from international financial statistics and world development indicators. The data on political variables are collected from International Country Risk Data Guide (ICRG). The empirical results both confirm that corruption and political stability are important indicators of budget deficit. Besides, the paper suggests authorities should pay more attention on improving the institutional setup of the economy in order to avoid high and unstable deficit. The findings offer new insight on the budget deficit in essence and suggest that the most important thing need to be done ahead is to strongly implement anti-corruption actions. By doing so, the status of budget deficit would be remarkably improved immediately.

This study aims to empirically examine the effect of foreign direct investment (FDI) and corruption on the development of public-service sectors in 10 ASEAN countries. It then investigates whether this relationship is different between two FDI compositions including greenfield FDI and FDI in the form of cross-border merger and acquisitions (M&As). Using a panel database of 10 ASEAN countries during the period 1996-2015 from various sources including the World Development Indicators of the World Bank and UNCTAD, we first find that FDI strongly and positively contributes to the development of the public-service sectors in the recipient nations, except for the electricity sector. However, we show that this relationship is dependent on the type of FDI modes of entry. Specifically, while greenfield investment exerts a beneficial influence on the development of telecommunication and transportation sectors, cross-border M&A has no effect on these sectors, perhaps because of the distinct differences among three public service sectors. Finally, we found that in a highly corrupt environment, aggregate FDI might have no influence on all three public-service sectors, possibly because the two contradictory influences of the interaction terms between corruption and two FDI sub-types seem to cancel each other out.

The purpose of this study is to investigate the development and determinants of China-ASEAN trade relations over the period of 2000-2018. Employing both the qualitative and quantitative approaches, the results show that the trade relations between China and the Association of South East Asian Nations (ASEAN) have remarkably developed and rapidly grown over times, with a significantly important concentration on the segments of high technological and medium technological products. We also find that China’s economic scale is crucially impacting on the China-ASEAN trade relations under both the aggregate and sub-sector level. It is interesting to notice that there is no evidence to support accession to the World Trade Organization (WTO) and officially forming of ASEAN-China Free Trade Agreement (ACFTA) to enhance trade relation between both sides. The findings also quantitatively indicate that there is much significant potential for the expansion of mutual trade between China and some members of ASEAN such as Brunei, Laos and Malaysia, while less potential is predicted for other members of ASEAN. It is strongly suggested that China and ASEAN should find a new proactive approach and make more efforts in improving the mutual political trusts to enhance trading activities in the coming years.

This study analyzes the key drivers (commitment, integration of big data, green supply chain management, and green human resource practices) of sustainable capabilities and the influence to which these sustainable capabilities impact the banks’ environmental and financial performance. Additionally, this study analyzes the impact of green management practices on the integration of big data technology with operations. The theory of dynamic capability was deployed to propose and empirically test the conceptual model. Data was collected through a self-administrated survey questionnaire from 319 participants employed at 35 banks located in six ASEAN countries. The findings indicate that big data analytics strategies have an impact on internal processes and banks’ sustainable and financial performance. This study indicates that banks committed towards proper data monitoring of its clients achieve operational efficiency and sustainability goals. Moreover, our results confirm that banks practising green innovation strategies experience better environmental and economic performance as the employees of these banks have received advance green human resource training. Finally, our study found that internal and external green supply chain management practices have a positive impact on banks’ environmental and financial performance, which confirms that ASEAN banks contributing in reduction of environmental impact through its operations will ultimately experience increased financial performance.

The study aims to investigate the existence of overconfidence bias in Vietnam, Thailand, and Singapore. This paper focuses on the Vietnam Stock Market and other two countries of ASEAN, namely Singapore and Thailand. Data was collected over the period from January 1, 2014 to December 31, 2018, daily returns for each of the securities. This paper uses the time series method, namely ADF test, Granger Causality and VAR approach to find evidences of the overconfidence effect in Vietnam in relation to some ASEAN markets. The results show similarities between the observed countries with slight variations, with focus on Vietnam market. In general concrete evidences of overconfidence were found in both Vietnamese and Singaporean markets, in which Singaporean investors show higher degree of overconfidence than Vietnamese investors. Overconfidence is not as clear in Thai market, however a direct causal link from increased returns to increased investor confidence was found. From the model deployed in the paper, there are reasons to conclude that Thai investors are under-confident. The findings of the study shed lights into the existence of overconfidence bias in Vietnam, Thailand, and Singapore on a comparative basis, provide more insights and implications for future research in this new and rising field of research.

This study examines the different roles of cash flow in assessing investment returns in the Association of Southeast Asian Nations (ASEAN). The analysis covers over 900 listed firms across Malaysia, Indonesia, Philippines, Singapore and Thailand for the period post the Asian financial crisis of 2001-2017. Firm-level panel data analysis shows that cash flow factors are important in all contexts of cash return on assets, earnings quality and market value multiple across the region even after controlling for typical measures of profitability. The results suggest that firms should manage cash flow prudently in considerations of firm value from the shareholder’s perspective, measured directly using stock return. Cash profitability on assets should become an important firm performance indicator, whilst higher cash component over reported earnings is preferred. The market also tends to respond favourably to cash flow yield as a price multiple in valuation, outpacing the role of earnings yield. Such findings are robust across the pre and post subprime crisis periods, across estimation methods pertaining to finance panel standard errors, as well as across static and dynamic considerations of returns. It is hence sensible to consider cash flow factors in the research pertaining to asset pricing and factor investing in the ASEAN region.

Along with the economic globalization and network generalization, this provides a good opportunity to the development of cross-border ecommerce trade. Based on this background, this paper sets ASEAN countries as an example to exploit the determinants of cross-border ecommerce trade including the export and the import, respectively. The panel data from the year of 1998 to 2016 will be employed to estimate the relationship between cross-border e-commerce trade and relevant variables under the dynamic ordinary least squares and the error correction model. The findings of this paper show that there is a long-run relationship between cross-border e-commerce trade and relevant variables. Generally speaking, the GDP(+) and real exchange rate(-export & +import) have an effect on cross-border e-commerce trade. However, the population (+) and the terms of trade (-) only have an effect on cross-border e-commerce import. The empirical evidences show that the GDP and the real exchange rate always affect the development of cross-border e-commerce trade. Therefore, all ASEAN countries should try their best to develop the economic growth and focus on the exchange rate regime so as to meet the need of crossborder e-commerce trade development.

The global trade partners have been diversified and mixed in agricultural market, which is expended the international agri-food market through the Regional Trade Agreement and World Trade Organization, etc. The aim of this study is to derive influential factors for exports increases of agricultural products targeting to Association of South-East Asian Nations (ASEAN). We set the equation for agricultural products exports referred to panel gravity model considering panel fixed effect for controlling endogeneity within variables. The results of this study are the follows; (1) Social economic distance considering international oil price negatively affects in the mushroom model; (2) Korean GDP affects (-) in a mushroom model and (+) in a vegetable model, however, ASEAN’s per capita GDP indicates opposite influence in the same model; (3) Relative exchange rate shows negative impact in a vegetable model; (4) The entry status into WTO and the status in force of FTA have converse effects in mushroom and vegetable model, respectively.

Purpose – This paper aims to find and analyze factors that determine the flows of bilateral foreign direct investment in intra- ASEAN. It specifically focuses on the dimension of macro- economic, natural resources, human resources, and the quality of governance. Research design, data, and methodology – Data were collected from 64 bilateral relations between ASEAN nations from 2002 to 2013. Panel gravity model was utilized to find factors that determine the flows of bilateral foreign direct investment. Results – Significant factors were identified that determine the flows of bilateral foreign direct investment: GDP home country, GDP host country, real interest rate, distance, and total natural resources rent. Unexpectedly, natural resources have a negative effect. Conclusions – In a situation of increasing the flow of FDI among the countries of ASEAN, the government should control the interest rates and maintain good relations with nearby countries. The negative effect of total natural resource rents implies that ASEAN countries should not depend on their natural resources to attract foreign investments.

In order to improve the overall ASEAN maritime transport network, each port's efficiency is regarded as a crucial factor that should be calculated periodically. This study evaluated the relative efficiency of container port operations of 32 ports belonging to 9 ASEAN nations using Data Envelopment Analysis (DEA). It found that 2 out of 32 ports in 2010 were measured as efficient ports. This study yielded two major findings. Firstly, the ports assessed as inefficient need to benchmark similar ports in size and structure from the ports that are assessed as efficient to improve their efficiency. Secondly, these results could be used to determine potential candidates and country for an international port development co-operation programme with Korea to improve the performance of the entire ASEAN port network by developing the infrastructures of ill-equipped ports.

On May 12th, 2007 a merchant vessel of Golden Rose (South Korea) sank into near 38 mile from Yentai in China after the vessel collided with a container vessel of Jinsung (China), leaving all 16 sailors, including seven South Koreans, missing. According to the official report. The Chinese vessel, authorities, and South Korean government did not coordination q rescue and salvage for the sailors and vessel properly as follows: 1) The Chinese vessel left the scene without rescue and salvage of the sailors, 2) Chinese authorities failed to comply with law of the sea that required them to report the collision to South Korea immediately after confirming the accident, and 3) The South Korean government is also being criticized for its slow response to the incident since the government did not set up a response team until 21 hours after the incident. In order to reduce this number of sailor missing in future incidents, this research is studied regarding assembling conferences, assigning SRR in ASEAN+3, simplicity to enter other territory waters and cooperative training and education for the SAR.

Port development has been remarkably increasing due to the progress of industrialization in ASEAN area. Especially, Vietnam has increased the international physical distribution in this area rapidly. The main issues facing decision makers at container terminals in Vietnam are how to expand the existing container terminals and construct new container terminals. In this paper, we performed the basic design based on simulation analysis in order to support the expansion of Quy Nhon port in Vietnam as a case study. The preliminary capacity analysis was conducted on the one berth at the port to analyze the scale of C/C(Container Crane)and yard area. Alternative scenarios were created based on the preliminary capacity analysis and the detailed simulation analysis was conducted for supporting the scenarios.

본 연구의 목적은 21세기 국제물류전략의 근간이 되는 ASEAN과 한국의 주요 컨테이너항만의 경쟁력 파악과 비교ㆍ평가를 통하여 한국항만의 경쟁력 제고를 위한 對 ASEAN에 관한 정책적 시사점을 강구함에 있다. 연구방법론과 범위는 ASEAN과 한국에 있어서 컨테이너항만의 경쟁력이라는 정성적인 속성을 정량화하여 평가하는 계층퍼지 분석(HFP)기법을 도입하여 실증분석을 하였다. 연구의 결과 싱가포르가 1위, 부산과 마닐라항만이 공동 2위의 선두그룹으로 평가되었다. 본 논문의 기여도는 한국과 ASEAN의 항만경쟁력 비교 연구를 통해 사회과학분야의 연구에 적용할 수 있는 HFT방법론을 도입하여 정책수립에 응용한 최신의 실증적인 연구접근에 있다.