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This chapter examines dynamic connectedness among emerging Asian equity markets as well as explores their linkages vis-à-vis other major global markets. We find that international equity markets are tightly integrated. Measuring connectedness based on a generalized Vector Autoregressive (VAR) model, more than half of all total forecast error variance in equity return and volatility shocks come from other markets as opposed to country own shocks. When examining the degree of connectedness over time, we find that international stock markets have become increasingly connected, with a gentle upward trend since the Asian financial crisis (AFC) but with a rapid burst during the global financial crisis (GFC). Despite the growing importance of Asian emerging markets in the world economy, we find that their influence on advanced economies are still relatively small, with no significant increase over time. During the past decade, advanced markets have been consistently net transmitters of shocks while emerging Asian markets act as net receivers. Based on the nature of equity shock spillovers, we also find that advanced countries are still tightly connected among themselves while intraregional connectedness within Asia remains strong. By investigating whether uncertainty plays an important role in explaining the degree of stock market connectedness, we find that economic policy uncertainty (EPU) from the US is an important source of financial shock spillover for the majority of international equity markets. In contrast, US financial market uncertainty as proxied by the VIX index drives equity market spillovers only among advanced economies.

The purpose of this paper is to investigate the long-run equilibrium relationship between developed, emerging and frontier markets of the Asia-Pacific region during January 2000 to June 2016.

Zivot and Andrews’ unit root test is used to examine the existence of unit root in index series in the presence of a structural break. Gregory and Hansen’s test of cointegration is employed to examine the stable long-run relationship between the indices under study.

The results suggest that the emerging markets of China and Thailand and the frontier markets of Sri Lanka and Pakistan are fairly segmented from most of the markets in the Asia-Pacific region. Hence, these markets provide good diversification opportunities to global investors. Bidirectional cointegration analysis indicates that emerging and frontier markets influence developed markets. Hence, it can be inferred that the de facto position that only bigger markets influence small markets no longer holds true in the current environment.

The findings of this study will provide valuable inputs to global investors for creating an optimal investment portfolio.

This study does a comprehensive examination of market integration in the Asia-Pacific region. It also contributes to the thin body of work done on frontier markets. Unlike past studies, this paper analyzes the bidirectional cointegration relationship to examine if the notion that only bigger markets influence smaller markets holds true or not. Finally, this study employs advanced techniques of unit root test and cointegration test that consider structural breaks in the models.

The purpose of this paper is to investigate how consumer cosmopolitanism (COS) and consumer ethnocentrism (CET) may affect young populations in China (an emerging country) and Korea (an advanced emerging country) on their evaluations of Japanese brands.

The author hypothesize that the levels and the effects of COS and CET will differ between China and Korea because of their differing levels of economic development and globalization. Surveys were conducted with 311 Chinese and Korean young individuals with comparable sample characteristics.

The research reveals a few interesting findings. First, the findings show that Chinese young consumers may be more ethnocentric and moderately less cosmopolitan than their Korean counterparts. Additionally, COS was found to have greater effects on evaluations of Japanese brands in China than in Korea. On the other hand, CET played a subdued role in brand evaluations for both countries.

The findings suggest that COS and CET may have reduced influences on future consumers in emerging Asia and other emerging countries as they experience increasing globalization.

This study addresses an under-researched issue of how consumer values may change in emerging Asia experiencing rapid economic development and globalization.

The Asian real estate markets have grown considerably in recent years and have taken on increased investment importance, particularly with significant developments in the emerging markets in Asia. This paper assesses the opportunities for more research on the Asian real estate markets, by highlighting the significance of Asia real estate, the drivers behind this growth and the unique opportunities this presents for high-quality real estate research, by both local researchers and their international colleagues. Strategies for delivering this research agenda are also identified.

This research is based on a thorough understanding of the Asian real estate markets, based on my own research agenda, personal interactions, insights and extensive discussions with real estate leaders in the Asian markets. This is supported by a clear understanding of the real estate research opportunities in the Asian markets and the strategies needed to deliver this research agenda in an effective manner.

A range of real estate research areas are identified to increase the level of Asian real estate research. This sees research opportunities around key areas such as market dynamics, real estate investment vehicles, alternate real estate sectors, infrastructure and sustainability. Strategies for expanding this level of research for both local and international real estate researchers are also identified.

With the Asian real estate markets taking on more importance with many international real estate investors, it is important to see more high-quality research into these dynamic real estate markets. This research will see a fuller understanding of these Asian real estate markets to enable more informed real estate investment decision-making.

The need for more high-quality research into the Asian real estate markets is clearly presented, with enabling strategies to achieve this agenda identified. This will see expanded research opportunities to critically research these unique real estate markets and produce high-quality research publications.

This research explores the role of economic growth to influence the inter-relationship between capital, liquidity and profitability of commercial banks in selected asian emerging economies.

To achieve the research purpose, an empirical model was constructed to examine the role of economic growth in the inter-relationship between banks' capital, liquidity and profitability. The empirical model was tested through two stage lease square (2SLS) regression analysis using annual data of Asian commercial banks ranges from 2011 to 2019.

The findings indicate that bank capital and liquidity are interdependent and determined simultaneously. The outcome demonstrates that the strength of the inter-relationship between banks' capital, liquidity, and profitability improves when economic growth is taken into account in the analysis. The results report that market funding, loan ratio, credit risk, bank size and bank efficiency are significant indicators to influence commercial banks' liquidity, profitability and capital in Asian emerging economies. The findings are heterogeneous across large, medium and small-sized banks in emerging economies of Asia.

The results highlight that the model provides robust results with respect to sign and significance. However, the coefficient remains underestimated without incorporating economic growth, which has important implications for decision-makers and bankers.

To the best of authors’ knowledge, this is the first study that examines the role of economic growth to influence the inter-relationship between capital, liquidity and bank profitability in the emerging economies of Asia.

In the aftermath of the global economic crisis, the pursuit of new perspectives and different growth models is imperative. One of the most significant trends of our time is the rise of Asia in the world economy. After centuries of Western economic dominance, China, India, and the rest of the East, alongside emerging economies more broadly, are beginning to challenge the West for positions of global industry leadership and underlying managerial philosophies and perspectives. In this paper, I review some key philosophical insights from Asia that have underpinned the success of many Asian businesses for generations, hoping that it will encourage more efforts – conceptually, theoretically, and empirically – leading the discourse on fresh new perspectives on business in emerging economies in general, and on Asian management in particular.

Warehouses are large emitters of greenhouse gases and their impact on climate change is under increasing focus. The purpose of this paper is to investigate the barriers that inhibit the adoption of low-carbon warehousing in Asia-Pacific and their links to carbon abatement performance.

An exploratory conceptual model was first developed from a literature review of the general barriers to sustainable supply chain practices and hence potentially in low-carbon warehousing. A large contract logistics services provider in the Asia-Pacific served as the subject of a case study. The perceived barriers to low-carbon warehousing were derived from an internal survey of respondents from the case company and regressed against carbon abatement outcomes at that organization’s operations across the region.

Results show that the case company reduced carbon emissions by 36 percent on a revenue-normalized basis between 2008 and 2014, but with relatively lower success in emerging markets vs mature markets. An Elastic Net regression analysis confirms that technology and government-related factors are the most important barriers in the case company’s efforts to “decarbonize” its local warehousing operations. However, results suggest that the customer-related barrier, which is highly correlated with the government barrier, is in part driven by the latter.

This case study is based on a single multinational company in Asia-Pacific, but nonetheless serves as an impetus for more cross-sectional studies to form an industry-wide view.

An extended stewardship framework based on the natural resource-based view has been proposed, in which logistics services providers take on a proactive boundary-spanning role to lower the external barriers to low-carbon warehousing.

This study aims to investigate how the consumer values of individualism and collectivism (IC) affect consumer animosity toward foreign brands in emerging Asia.

Surveys were conducted with Korean consumers on their animosity toward Japanese brands.

The study found that the IC value can precede consumer animosity and also moderate the effects of consumer animosity on purchase intentions. When horizontal and vertical dimensions of IC were examined, collectivism and vertical individualism were found to have strong effects on consumer animosity. In addition, both horizontal and vertical individualism negatively moderated the consumer animosity effects.

The findings suggest that future consumers in Asia and perhaps other emerging countries as well may be less affected by consumer animosity in brand choice as they become more Westernized and individualistic.

This study may enhance the understanding on changing consumer animosity and behavior in emerging countries in general.

The recent rise of nonperforming loans (NPLs) in some Asian economies calls for close analysis of the determinants, the potential macrofinancial feedback effects, and the implications for financial stability in the region. Using a dynamic panel model, we assess the determinants of the evolution of bank-specific NPLs in Asia and find that macroeconomic conditions and bank-specific factors – such as rapid credit growth and excessive bank lending – contribute to the buildup of NPLs. Further, a panel vector autoregression (VAR) analysis of macrofinancial implications of NPLs in emerging Asia offers significant evidence for feedback effects of NPLs on the real economy and financial variables. Impulse response functions demonstrate that a rising NPL ratio decreases the GDP growth, credit supply and increases the unemployment rate. Our findings underline the importance of considering policy options to swiftly and effectively manage and respond to a buildup of NPLs. The national and regional mechanisms underlying NPL resolution are important for safeguarding financial stability in an increasingly interconnected global financial system.

This study aims to review and analyze sustainable business practices prevailing in different emerging countries in Asia. It also identifies the challenges faced by these countries in the implementation of sustainable practices.

To achieve the objectives of the study and answer the key research questions, systematic literature review method was chosen. A total of 75 papers were chosen and reviewed for this study.

Organizations in many emerging Asian countries are concerned about environmental aspects and have started investing in sustainable business practices. Yet they face many challenges during the implementation, which vary across countries.

This study helps in understanding the sustainable practices that are currently being used in Asia and this understanding would help organizations and policy makers formulate new practices or improve upon existing ones for better outcomes. As the study was limited to a few representative countries in Asia, and a limited number of sectors, future research may build upon it by including more countries and sectors and perform empirical tests for comprehensive understanding of the topic under discussion.

With an idea of what works in various Asian countries, as garnered from this paper, organizations can adopt sustainable practices suited to them, while also training employees and all stakeholders on the implementation of these practices.

A knowledge of the challenges in each country to sustainable practice implementation, identified from this paper, can help policymakers frame and implement policies that can overcome the shortcomings of the existing systems.

This paper is a pioneer in the area of sustainable business practices in Asia and is a one-stop source to understand current trends and challenges in the Asian context.