The cryptocurrency market has received immense consideration in media and academia since the beginning of 2013 because of its huge price fluctuation. This study focuses on Arab investors who invest in the cryptocurrency market by investigating the influence of behavioral finance factors on investment decisions in the cryptocurrency market. A quantitative approach was used by employing a snowball sampling method through 112 questionnaires. The results show that herding theory, prospect theory, and heuristic theory have a significant effect on investors’ investment decisions in the cryptocurrency market. This emphasizes the significant role of the proposed behavioral factors as determinants of the investors’ investment decisions. This study contributes to the existing research by consolidating the results of different researches in this study. It also contributes to the investors’ understanding of the dynamics of the cryptocurrency market and it enhances the ability to make informed decisions based on their understanding. The implication of the findings will prepare hit and run investors to be progressively prepared to stay in the cryptocurrency market and develop their abilities on the most proficient method to settle on sound venture choices. Furthermore, the findings of this study will encourage financial specialists to realize that information on the traditional finance theory is not adequate to excel in the cryptocurrency market.

This paper analyzes the profitability of the Private Finance Initiative(PFI) ports and proposes the application plans of the R-project(Rehabilitate project) for old ports to attract and activate private investment in the port industry. The R-project of old ports can reduce the government’s financial budget and provide improved facilities for users more quickly than the public sector comparator. Before suggesting the R-project for old ports, the profitability of the currently operating 11 companies of the PFI ports are analyzed using the four ratios of profitability, and the results show that all the companies indicate low profitability, except for the top three companies. To apply the R-project, the three types of R-project ports are categorized as maintaining the function of the port, changing the function of the port, and mixing the function of the port. Additionally, three obstacles and improvement measures are suggested; attracting private business, legal issues, and administrative procedures. This study is conducive to the policy making for the port renewal and the activating PFI for the port industry

This paper examines the impact of gender on access to debt finance among Vietnamese enterprises. The paper investigates data and variables retrieved from the World Bank Enterprise Survey dataset using five Probit models. The regression results suggest that there exist more unfavourable debt financing conditions for women-led firms (WLF), measured as a lower probability of having loan applications fully approved. Firm’s age, working sector, and perception of access to finance as a difficulty are found to have explanatory power on the discrimination. More importantly, the perception of debt finance as a difficulty or firms’ level of confidence significantly explains the variance of the dependent variable of probability of loan approval, or gender effect would be more pronounced if the firm already has a low level of confidence. The paper also contributes in testing for the gender effect on Vietnamese enterprises from different sectors and scale, unlike other prior research papers focusing on specific sectors and/or small and medium enterprises only. The findings are highly useful for Vietnamese credit institutions to set out a specific business policy to attract more WLFs and help promoting gender equality in the working environment, especially in debt financing, which is often neglected in existing regulation and policy frameworks.

This study aims to examine the effects of strategic management accounting on firm performance of finance businesses in Thailand. Strategic management accounting comprises of environmental scanning, competitor orientation and forward-looking information. In this study, 175 finance businesses in Thailand are the samples of the study. A mail survey procedure was used for data collection. The hierarchical multiple regression analysis is employed to test the research relationships. Firstly, environmental scanning positively affects operational excellence, organizational effectiveness and firm performance. Secondly, competitor orientation is positively related to managerial efficiency and organizational effectiveness. Thirdly, forward-looking information has a positive influence on operational excellence, managerial efficiency, organizational effectiveness, and firm performance. In addition, operational excellence, managerial efficiency and organizational effectiveness have positive impact on firm performance. Finally, to verify the mediating effects, operational excellence, managerial efficiency and organizational effectiveness are the mediators of the research relationships. This study confirms that all dimensions of strategic management accounting play a significant role in determining business outcome as being congruent with the theory of resourcebased views of the firms. Executives of firms need to provide valuable resources and capabilities to support the strategic management accounting implementation in order to achieve good business outcome in highly competitive environments.

선박금융 의사결정에서 해운기업들은 비합리적인 의사결정을 선택하는 경우가 있으며, 이러한 결과는 해운기업들에 막대한 손실을 유발시킨다. 이러한 선박금융 의사결정 선택에 대한 분석을 본 연구는 행동재무학 이론 중 엥카링 효과와 매몰 비용 효과 이론으로 접근 하였으며, 설문지법과 사례 분석 방법론으로 논문을 작성하였다. 분석 결과, 행동재무학 이론인 엥카링 효과와 매몰 비용 효과가 선박금융 의사결정에 영향을 미친다는 사실과 이러한 영향으로 의사결정자가 비합리적인 의사결정을 선택하게 될 수 있다는 사실을 발견했다.

The paper seeks to explore the role of green finance in achieving sustainable development goals through the case of China, and address some issues of sustainable finance and environmental, social and governance concerns of green finance by introducing the episodes of green finance in China. This paper aims to provide some viewpoints about the following questions: 1) What are the latest trends in green finance? 2) What are the main challenges to the development of green finance? 3) What are policy recommendations for the development of green finance? 4) What are the roles of both the public and private sectors in promoting green finance? This paper identifies the mainstream to sustainable bonds, diversification of green finance, transition of corporates’ business models, transparency and disclosure, and harmonizing taxonomy and measurement of green finance for the emerging trends of green finance. As the results, this paper recommends some policy measures for the private sector such as greening the banking system, greening the bond market, and greening institutional investors. This paper also suggests some policy initiatives for the public sector such as developing policies and capacity, promoting market transparency and governance, and promoting private-public partnership for diversifying resources of green finance.

In today’s financial industry, Fintech (financial technology) has showed its role of an innovation-driving area, which can bring outstanding changes to the traditional financial market. This article will briefly introduce Fintech as well as its development in Vietnam. Besides, the research also provided a survey on experts’ opinions on the challenges to the promotion of Fintech application for the modernization of the banking-finance system in Vietnam. The survey results of 40 experts in banking with knowledge of Fintech identify five challenges faced by Fintech companies in Vietnam: (1) legal corridor; (2) infrastructure; (3) Fintech companies; (4) customers; and (5) human resources. From these five challenges/barriers, there are 14 detailed aspects. The results of the expert survey using descriptive statistics show that all five factors are assessed to be low and need to be better addressed in the future. The authors suggest several solutions for further development of Fintech to support the modernization of the banking-finance system in Vietnam: (1) quickly complete the regulatory framework; (2) introduce policies on tax exemption; (3) promote research and application of the benefits of block-chain technology; (4) utilize the abilities of the human resources; and (5) actively promote and popularize knowledge about Fintech.

Purpose - The purpose of this paper is to elucidate the limelight question ‘why India should open arms for Islamic banking?’. Research design, data, and methodology - The paper is theoretical and conceptual in nature and provides results based on significant literature review. Results - This paper will start with the discussion why Islamic name does not make it only for Muslims?, then its features and how it can improve India’s current economic situation. Also this study will analyze the ability of Islamic finance to act as Micro-finance tool by including people who does not participate in economic activities. This paper also concludes that why religious issue should be sidelined in order to accept Islamic finance for empowerment of Muslim and non-Muslim minorities which live in abject poor conditions. Conclusions - Islamic finance has lot of merits which cannot be ignored by only looking at the name and believing that it is only for Muslims. Indian economic system needs a financial system which will work for welfare and not for profit to help poor communities in coming out of poverty. Interest free loans and micro-finance tools are the only way to help below poverty line population to raise their income level.

Purpose – The purpose of this research is to verify mediation effects of finance stress within relation structure between income inequality recognized by the elderly and life satisfaction. Research design, data, and methodology - In order to achieve the purpose of this research, we investigated recognition of income inequality of the elderly, finance stress and life satisfaction by using examination data aimed at 541 elderly people whose age is over 65 living in Chungcheongbuk-do. We conducted reliability, correlation, regression analysis_(tolerance limit and variance inflation factor) by using SPSS ver. 18.0. Results – From the result of analysis, it was proved that there are mediation effects of finance stress within the relation between income inequality recognized by the elderly and satisfaction with life. Based on this result, we suggest practical and political proposals to increase life satisfaction of the elderly. Conclusions - The purpose of this research is to verify mediation effects of finance stress in the relationship between income inequality and life satisfaction recognized by the elderly. From the result of research, first, a direct effect was discovered that as income inequality becomes high, life satisfaction will be decreased. Second, partial mediation effect of finance stress was confirmed in the relationship between income inequality and life satisfaction.

Social entrepreneurship is increasingly gaining interest in developing countries for the great benefits of society. In Vietnam, the concept of social entrepreneurship is still quite new. Entrepreneurial intention is regarded as a useful and practial approach for understanding actual entrepreneurial behavior. The purpose of this paper is to develop an integrated model based on planned behavior to examine the direct and indirect effect of perceived access to finance on social entrepreneurial intention. The confirm factor analysis to study the latent constructs underlying determinants of planned behavioral theory, perceived access to finance and social entrepreneurial intention. Then, it applies the technique of structural equation modeling to explore relationships among latent constructs. There is no direct relationship between perceived access to finance and social entrepreneurial intention. Perceived access to finance only indirectly increases entrepreneurial intention through attitude towards behavior and perceived behavioral. This study focuses on the perceptual factor of financial access that affects entrepreneurial intentions. The study does not cover other in-depth issues of social entrepreneurship such as decision making, leadership, personality traits, social capital, and human capital. To establish an environment with a strong social entrepreneurial intention, a focus on developing perceived access to finance is an extremely important factor. This study also suggests that attitude towards behavior and perceived behavioral have a strong impact to social entrepreneurship

2005년 교토의정서를 시작으로 세계의 오염퇴치와 더 낳은 환경을 원하는 다수의 국가들은 온실가스 배출감소를 위주로 한 거시적 장기적 환경관리를 위해 새로운 금융모델인 녹색금융에 높은 관심을 보이고 있다. 이와 더불어 중국은 온실가스 배출량 뿐만 아니라 대기, 수질, 토양 오염 등이 빠른 성장 뒤에 부작용으로 작용하여 자국민들의 삶의 질과 만족도를 크게 떨어뜨려왔다. 특히 중국의 환경 오염문제는 중국 국내 뿐만 아니라 주변국가들에게도 직간접적으로 부정적인 영향력을 끼친다. 특히, 중국의 석탄을 이용한 난방이 시작되는 11월부터 3월까지는 스모그와 고농도 미세먼지는 인체에도 큰 영향을 미쳐 이를 해결하는 직간접적인 방법이 수년간 연구되어 왔다. 녹색금융은 환경보호 기업과 연관 산업 및 기술개발에 금융지원과 보조를 통해 장기에 걸쳐 문제를 해결하고 경제적 효율을 가져 오는 지속가능 한 경제모델의 일종이다. 본 논문을 통해서 중국 녹색금융 발전현황을 되돌아보고, 실제적으로 중국의 상업은행이 녹색금융에 어떠한 정책을 실시하는데 연구한다. 결론적으로 중국정부는 금융기관을 중심으로 2007년부터 꾸준한 녹색금융정책을 실시하고 있지만 실효적인 부분에서는 명시적인 성과를 보이지 못하고 있는 실정이다.

Purpose - The study investigates the obstacles faced by small business owners (SBOs) in accessing finance in the Buffalo City Metropolitan Municipality. The study aims to identify the causes of inaccessibility to finance for SBOs, investigate the role of government agencies in supporting SBOs, assess the extent to which banks support SMMEs, and suggest solutions to ease the challenge of inaccessibility of finance. Research design, data, methodology -We used a triangulation research design, wherein SMME owners and managers in the Buffalo City Metropolitan Municipality were the target population. We used simple random sampling techniques to select respondents, and conducted in-depth interviews to collect qualitative data. Results - We analyzed quantitative data using descriptive statistics, Chi-square tests, and factor analysis. The qualitative data was analyzed using content analysis. The study identifies and discusses the obstacles in accessing finance; the main among which are the lack of collateral security, poor business plans, lack of knowledge, and lack of financial deposit. Conclusions -We urge the banks, government, and government agencies to support the SMME sector, for it remains the economic engine of many African countries and helps in reducing the impact of socio-economic challenges, like unemployment and poverty.

Purpose - The study investigated the obstacles to accessing finance by small business operators in the Buffalo City Metropolitan Municipality. The objectives of the study were to identify the causes of inaccessibility to finance by small business operators, to investigate the role of government agencies in supporting small business operators, to assess the extent to which banks support SMMEs and to suggest solutions to ease the challenge of inaccessibility of finance by small business operators. Research design, data, methodology – Triangulation research design was used in this study. SMME owners and managers in the Buffalo City Metropolitan Municipality were the target population. Simple random sampling technique was used to select respondents. In-depth interviews were conducted to collect qualitative data. Quantitative data was analysed using descriptive statistics, Chi-square test and factor analysis. Qualitative data was analysed using content analysis. Results - Obstacles to accessing finance were identified and discussed. Lack of collateral security, poor business plans, lack of knowledge and lack of financial deposit are some of the main factors identified. Conclusions - The banks, government and government agencies are urged to support the SMME sector for it remains the economic engine of many African countries. This sector also helps in reducing the impact of socio-economic challenges like unemployment and poverty.

정부의 금융중심지 조성과 발전에 관한 법률에 따라 부산문현혁신지구에 새롭게 조성될 금융중심지는 기존 금융중심지와 차별화되어 해양특성을 반영한 금융집적지로서 비즈니스 중심지와 연계될 때 국제적 경쟁력을 확보할 수 있다. 본 연구는 금융중심지 개념, 유형 성립여건, 경쟁력 및 해외 사례고찰의 시사점을 통해 개발여건과 관련계획을 분석하여 부산국제금융센터의 국제적 경쟁력은 시민공원 및 북항재개발지구가 연계된 해양특성화에 있음을 제시하고, 관련된 육성 프로그램의 보완방향, 물리적 개발방향, 전략 및 지침을 포함한 개발방안을 제시한다.

1946년 1 월 29 일의 ‘연합군최고사령관훈령 저11677호’를 시행하기 위해 일본 정부가 제정한 1951 년 6월 6 일의 ‘총랴부령 제 24호’제 2조는 동 총랴부령의 규정은 독도에 적용되지 아니한다고 규정하 고 있다. 1951 년 2월 13 일의 ‘대장성령 제 4호’제 2호도 이와 동일 한 규정을 두고 있다. 국제법상 영토주권의 승인은 특정 영토에 대한 영토주권이 특정 국가에 귀속된다는 특수한 사태를 수락하는 특정 국가의 적극적 행위이다. 영토주권의 승인은 타 당사자의 영토권원을 용인，수락 또는 인정하는 행위이다. 영토주권의 승인은 명시적 형식을 요하는 것이 아니라 특수 사정 하에서 묵시적 형식으로 승인될 수도 있다. 영 토주권의 승인은 학설과 국제판례에 의해 일반적으로 수락되어 있다. 일본 정부의 ‘총리부령 제 24호’의 규정이 독도에 적용되지 아니한다고 규정한 동 부령의 제정행위는 한국의 독도 영토주권의 묵 시적 승인 행위를 의미한다. ‘대장성령 제 4호’의 제정행위도 이와 동일하다. 따라서 일본 정부의 ‘총랴부령 제 24호’와 ‘대장성령 제 4호’의 제정에 의한 한국의 독도 영토주권의 묵시적 승인의 결과로 (1) 일본 정부는 금반언의 원칙에 따라 독도에 대한 한국의 영토주권 의 승인과 저촉되거나 또는 이와 모순되는 주장을 할 수 없으며，(2) 이들 법령에 의한 묵시적 승인은 독도에 대한 영토주권이 한 국에 귀속된다는 것을 증명하는 것으로 된다. (3) ‘총리부령 제 24 호’와 ‘대장성령 제 4호’에 의한 한국의 독도 영토주권의 묵시적 승인은 한국의 독도에 대한 상대적 권원을 비교우위적 상대적 권원 또는 절대적 권원으로 전환하여 한국의 독도권원에 대한 역사적 응고를 공고히 하는 중요한 효과를 가져오게 한다. 정부의 독도정책 당국에게 독도정책의 입안·결정에 상기의 효과를 반영할 것을 권고 제의한다.