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11 – 20 of over 5000Shahryar Sorooshian, Navidreza Ahadi and Ahmed Zainul Abideen
This study aims to assess the response of the Association of Southeast Asian Nations (ASEAN) to cleaner production and environmental sustainability, with a specific focus on…
Abstract
Purpose
This study aims to assess the response of the Association of Southeast Asian Nations (ASEAN) to cleaner production and environmental sustainability, with a specific focus on identifying the leading countries and research networks driving these efforts.
Design/methodology/approach
A benchmarking academic journal was chosen, and the journal’s archive was comprehensively examined. To construct the data set, a conventional keyword search technique was applied in February 2023 to filter for ASEAN affiliations. The study used hybrid bibliometric analyses and multi-criteria decision analysis (MCDA) to analyze the collected data and address the research purpose.
Findings
The data analysis revealed a rising research trend, particularly after 2014. Malaysia had the most publications, followed by Thailand and Singapore, and their publications had the most cumulative citations among ASEAN countries. Research collaborations between Malaysia, Thailand and Singapore were frequent, but participation from other countries was low. The research topics on which ASEAN members focused were also identified, but it became apparent that there was little coordination. A scant few collaborations involving more than two countries were observed; thus, the MCDA analysis concluded that research leadership was absent in ASEAN countries.
Originality/value
This study contributes insights to the existing literature and offers a valuable overview of the research direction and collaboration status of cleaner production and environmental sustainability in the ASEAN region, thus benefiting policymakers. Additionally, this study introduces a novel approach combining bibliometrics analysis with MCDA to assess research collaboration, thus providing a novel methodology for future research policy evaluations.
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In the years leading up to United Nations General Assembly Special Session (UNGASS), Southeast Asia drew the attention of the drug policy world because of its refusal to drop the…
Abstract
In the years leading up to United Nations General Assembly Special Session (UNGASS), Southeast Asia drew the attention of the drug policy world because of its refusal to drop the goal of becoming a drug-free region and for the extreme methods used in striving to achieve it. This chapter presents an analysis of the official positions taken by governments in the regional body known as the Association of Southeast Asian Nations from before until after the UNGASS in the context of one of the most punitive drug policy environments in the world and offers a perspective on what we could expect from them in 2019.
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This chapter explores the empirical and empathetic approaches employed by a group of fieldworkers from Japan who collaborated with individuals from different parts of Southeast…
Abstract
This chapter explores the empirical and empathetic approaches employed by a group of fieldworkers from Japan who collaborated with individuals from different parts of Southeast Asia. Their objective was to address shared societal challenges and mentor the next generation of future talents. Additionally, research administrators at Kyoto University conducted an online survey and organized study group meetings focused on Science, Technology and Innovation (STI) coordination, engaging approximately 700 partners in ASEAN. While formal job guidelines for hiring full-time research administrators are rare in the region, many researchers and government officials in ASEAN recognised the importance of these coordination skills and values in advancing STI projects. Coordinating ASEAN-Japan projects has demonstrated that practical experiences with skilled professionals and strong interpersonal skills aligned with Asian cultural values that prioritize conscience and altruism. As a next step, the region will require appropriate human resource training and assessment programs tailored to local STI needs.
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Financial integration has played an essential role in achieving economic growth in the members of the Association of Southeast Asian Nations (ASEAN). However, its effects on…
Abstract
Purpose
Financial integration has played an essential role in achieving economic growth in the members of the Association of Southeast Asian Nations (ASEAN). However, its effects on economic growth in the region in the long run have been underexamined. This paper examines these effects for the ASEAN member countries.
Design/methodology/approach
A fully modified ordinary least squares (FMOLS) estimation is used to take into account two critical econometric issues in panel data analysis, including (1) cross-sectional dependence and (2) slope heterogeneity. The dynamic ordinary least squares estimation is also used for robustness analysis. The authors use the generalized least squares estimation to examine the effects in the short run.
Findings
This study’s empirical results confirm the important role of financial integration to economic growth in the ASEAN countries in the short term. However, the effects appear to disappear in the long term. The authors also find capital, labor, and human development positively contribute to economic growth in the region. International trade plays a significant role in supporting economic growth in the ASEAN in the short run. However, its effect seems to weaken in the long run.
Originality/value
The growth effects of financial integration in the ASEAN region in the long term have largely been neglected. As such, the authors examine these effects using updated data on financial integration. The authors extend this study’s analysis by considering foreign direct investment and financial depth as the alternative proxies for financial integration. Other estimation technique is also used as the robustness check.
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The study compares the socioeconomic development of the South Asian Association of Regional Cooperation (SAARC) to that of the Association of Southeast Asian Nations (ASEAN)…
Abstract
The study compares the socioeconomic development of the South Asian Association of Regional Cooperation (SAARC) to that of the Association of Southeast Asian Nations (ASEAN). SAARC was established on December 8, 1985, as a result of former President Ziaur Rahman's efforts to promote the welfare of the people and mutual trust. ASEAN was founded in August 1967 with the goal of accelerating the region's economic growth, social progress, and cultural development while also promoting regional peace and stability. The SAARC countries share problems such as poverty and unemployment. SAARC countries have a GDP per capita four times that of ASEAN. A qualitative analysis based on secondary data pertaining to SAARC and ASEAN reveals that SAARC has not been more successful than ASEAN. National and international conflicts are common within SAARC. SAARC has 22% of the world's population and 3% of the world's economy, and there are enormous opportunities for economic growth and human development.
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Trang Khanh Tran and Lan Thi Mai Nguyen
This paper examines the capital structure decisions of family firms in Southeast Asian (ASEAN) countries, considering the moderating effects of various firm-level and…
Abstract
Purpose
This paper examines the capital structure decisions of family firms in Southeast Asian (ASEAN) countries, considering the moderating effects of various firm-level and country-level factors.
Design/methodology/approach
The authors apply various panel data models to analyze the data of listed firms in six ASEAN countries over the period of 2007–2017.
Findings
The authors find that family firms tend to use more debt, particularly short-term debt, than non-family firms, which is explained by family owners' concern about the risk of losing control. The authors further document that family firms would use more debt when they have lower ownership concentration, have more family members on the board of directors and are young firms. The authors also find that the impact of family ownership on capital structure is moderated by the level of investors' legal protection of a country.
Originality/value
This study, for the first time, provides comprehensive analyses of the financing decisions of family firms in ASEAN using a unique hand-collected dataset, which highlights that regional culture and market conditions can shape family firms' financing decisions. The authors also manage to mitigate the endogeneity issues that pervade most research on family firms. In addition, this research further explores the heterogeneous impacts of family control on capital structure given different levels of board involvement, firm age, ownership concentration, and most importantly, institutional differences. Such insights provide useful information for prospective investors as well as regulators to make more efficient investment and legislative decisions.
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Imran Yousaf, Walid Mensi, Xuan Vinh Vo and Sanghoon Kang
This study aims to examine the tail connectedness between the Chinese and Association of Southeast Asian Nations (ASEAN) stock markets. More specifically, the authors measure the…
Abstract
Purpose
This study aims to examine the tail connectedness between the Chinese and Association of Southeast Asian Nations (ASEAN) stock markets. More specifically, the authors measure the return spillovers at three quantile levels: median (t = 0.5), lower extreme (t = 0.05) and upper extreme (t = 0.95). The connectedness at extreme upper and lower quantiles provides insightful information to investors regarding tail risk propagation, which ultimately suggests that investors adjust their portfolios according to the extreme bullish and bearish market conditions.
Design/methodology/approach
The authors employ the quantile connectedness approach of Ando et al. (2022) to examine the quantile transmission mechanism among the ASEAN and Chinese stock markets.
Findings
The results show significant evidence of a higher level of connectedness between Chinese and ASEAN stock markets at extreme upper and lower quantiles compared to the median quantiles, which suggests the use of a quantile-based connectedness approach instead of an average-measure-based one. Furthermore, the time-varying connectedness analysis shows that the total spillovers reach the highest peaks during the global financial crisis, the Chinese stock market crash and the COVID-19 pandemic at the upper, lower and median quantiles. Finally, the static and dynamic pairwise spillovers between the Chinese and ASEAN markets vary over quantiles as well.
Originality/value
This study is the first attempt to examine quantile vector autoregression (VAR)-based return spillovers between China and ASEAN stock markets during different market statuses. Besides, the COVID-19 has intensified the uncertainty in Asian countries, mainly China and ASEAN economies.
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Thai-Ha Le, Long Hai Vo and Farhad Taghizadeh-Hesary
This study examines the co-integration relationships between Association of Southeast Nations (ASEAN) stock indices as a way to assess the feasibility of policy initiatives to…
Abstract
Purpose
This study examines the co-integration relationships between Association of Southeast Nations (ASEAN) stock indices as a way to assess the feasibility of policy initiatives to strengthen market integration in ASEAN and identify implications for portfolio investors.
Design/methodology/approach
The authors employ threshold co-integration tests and a non-linear autoregressive distributed lag (NARDL) model to study the asymmetric dynamics of ASEAN equity markets. The study’s data cover the 2009–2022 period for seven member states: Cambodia, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
Findings
The authors find evidence supporting co-integration relationships; adjustment toward equilibrium is asymmetric in the short run and symmetric in the long run for these countries. While co-movement in ASEAN equity markets seems encouraging for initiatives seeking to foster financial integration in regional economies, the benefits for international portfolio diversification appear to be neutralized.
Originality/value
The issue of stock market integration is important among policymakers, investors and academics. This study examines the level of stock market integration in ASEAN during the 2009–2022 period. For this purpose, advanced co-integration techniques are applied to different frequencies of data (daily, weekly and monthly) for comparison and completeness. The empirical analysis of this study is conducted using the Enders and Siklos (2001) co-integration and threshold adjustment procedure. This advanced co-integration technique is superior compared to other co-integration techniques by permitting asymmetry in the adjustment toward equilibrium.
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Unggul Heriqbaldi, Miguel Angel Esquivias and Kemala Sari Agusti
This study aims to explore the role of cultural distance, economic integration, price competitiveness and substitution prices for tourism arrivals between 10 Southeast Asian (ASEAN…
Abstract
Purpose
This study aims to explore the role of cultural distance, economic integration, price competitiveness and substitution prices for tourism arrivals between 10 Southeast Asian (ASEAN) countries and 22 other origin countries from 2007 to 2019.
Design/methodology/approach
A panel-data gravity model is applied to estimate tourism demand in the ASEAN region. An index of cultural distance (time-variant) is introduced to examine the role of cultural differences across bilateral partners. Moreover, relative prices and substitution prices are introduced to the gravity equation to estimate price elasticities. Finally, this study tested whether the ASEAN free trade agreements (FTAs) encourage intraregional tourism arrivals. Two-panel regression approaches are used to test the model.
Findings
Cultural distance positively affects tourism inflows, boosting foreign arrivals. Income and price elasticities are important determinants in the demand model for ASEAN. A gain in price competitiveness versus alternative destinations can lead to substitution in destination choice. Meanwhile, geographic distance has a negative impact on arrivals, suggesting that connectivity and transportation are key in boosting tourism inflows in ASEAN. A decline in the disposable incomes of tourists caused by the COVID-19 pandemic may reduce tourism arrivals in the region. However, when currencies in ASEAN weaken, and consumer prices are lower than in other destinations, arrivals in ASEAN will be stimulated. FTAs have facilitated travel intra-ASEAN, which is an advantage over the extra-ASEAN sector.
Practical implications
Cultural heritage could be used in tourism promotion as ASEAN can attract tourists seeking novelty and new excitements. ASEAN countries could create complementary destinations and jointly promote cultural heritage to accelerate the region’s recovery. The depreciation of currencies in ASEAN and the gain in relative price competitiveness could attract more tourist visits, helping the region reestablish tourism activities in a postpandemic economy.
Originality/value
The model accounts for three key variables in the gravity approach: cultural distance in ASEAN tourism inflows, the effects of the ASEAN economic community on intraregional tourism, and relative and alternative price competitiveness. This study enriches the literature about tourism-demand approaches in modeling tourism arrivals.
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Hoan Thanh Phan and Young Ji Jeong
The purpose of this paper is to empirically investigate the patterns and determinants of intra-industry trade (IIT) in manufactures between Korea and selected ASEAN countries in…
Abstract
Purpose
The purpose of this paper is to empirically investigate the patterns and determinants of intra-industry trade (IIT) in manufactures between Korea and selected ASEAN countries in the period of 1997-2011.
Design/methodology/approach
The effects of country-specific determinants of IIT in manufactures are examined using panel data approach.
Findings
The results show that the IIT of Korea-ASEAN manufactures is positively correlated with the average income levels and foreign direct investment inflow, while it is negatively correlated with the differences in factor endowments between Korea and selected partners. Overall, market size, income dissimilarity and factor endowments are indicated as most relevant determinants of IIT in manufactures between Korea and ASEAN countries.
Originality/value
Despites the importance of Korea-ASEAN IIT, studies on this subject are limited. This paper examines the pattern and determinants of IIT and its components in Korea-ASEAN manufactured trade. The paper also suggests the policy implications for the development of IIT between two parties.
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