scholarly journals Analysis of Herding Behavior in Developing Countries

2021 ◽  
Vol 8 (12) ◽  
pp. 614-621
Author(s):  
Ririn Stefani Silitonga ◽  
Isfenti Sadalia ◽  
Amlys Syahputra Silalahi

When faced with market uncertainty and high volatility in financial markets, the potential for herding behavior in the stock market is likely to increase. This will cause instability in the financial market and also the economy of a country. The purpose of this study is to analyze herding behavior in the stock markets of developing countries including China, the Philippines, India, Indonesia, Korea, Malaysia, Pakistan, Taiwan and Thailand. This type of research is quantitative research and the population in this study is stocks listed on the Stock Exchanges of all developing countries with a time period from January 2016 to December 2020. The sampling method used is purposive sampling. The data used are monthly stock index data, VIX, world oil prices and the fed funds rate. Data analysis was performed through panel data regression, which is a combination of cross section and time series using the Eviews program. The results showed that there was no herding behavior in developing countries. The result of this research is that the fed fund rate has a significant effect on herding behavior in developing countries, especially in Indonesia. Keywords: Herding, Market Volatility, Oil Price, Fed Fund Rate.

2020 ◽  
Vol 12 (13) ◽  
pp. 5413 ◽  
Author(s):  
Thuy Thanh Tran ◽  
Christian Herzig

This study aims to provide a better understanding of material flow cost accounting (MFCA) application in developing countries, which are characterized by rapid structure transformation leading to serious environmental problems. By systematically reviewing the existing literature, our analysis of 28 studies from nine developing countries (China, Indonesia, Iran, Malaysia, South Africa, Sri Lanka, Thailand, the Philippines, and Vietnam) shows that MFCA research has primarily focused on Asian developing countries. Moreover, while the use of MFCA is often associated with improving eco-efficiency, the reviewed studies also indicate a high relevance for strategic decision-making processes within organizations. Finally, one of the key challenges in MFCA application reported in developing country studies lies in existing accounting systems with limited data availability and insufficient cost allocation. Based on our findings and gaps identified in the MFCA literature, we suggest paths for further research, including the necessity of quantitative research and comparative analysis of MFCA application across countries, the further investigation of MFCA application in small and medium-sized enterprises as well as in various manufacturing and service sectors in developing countries.


2020 ◽  
Vol 10 (1) ◽  
Author(s):  
Ike Arisanti

This study aims to detect herding behavior in the Southeast Asian capital market after the announcement of the fed fund rate in 2018. The population used in this study are all companies listed on the Indonesia, Malaysia, Thailand, Vietnam, Philippines stock exchanges. The sample collection technique in this study used purposive sampling. The method used to detect herding behavior using CSAD was developed by Chang, Cheng, and Khorana (2000). The results of the study found a herding behavior. . Empirical test results from the regression showed the coefficient γ2 is negative and meets the level of confidence at the level of 95%. The ability of the regression results to meet the expected level of confidence, then empirically this can conclude the existence of herding behavior. This means supporting the hypothesis in Hi, thus in aggregate it appears that during the observation period herding behavior occurred after the Fed Fund Rate 2018 was announced Keywords : Fund Fed Rates, Herding, Southeast Asia


IZUMI ◽  
2021 ◽  
Vol 10 (1) ◽  
pp. 131-142
Author(s):  
Muhammad Reza Rustam

One of the reasons foreign workers are looking for jobs abroad is that there are not enough jobs in their home countries. Indonesia is one of the countries that send migrant workers to more developed Asian and Middle Eastern countries. The increasingly rapid flow of globalization in the world goes together with the need for new workers to fill the industry, especially in Japan. This condition has forced Japan to open doors for foreign workers from developing countries to satisfy demand. These workers usually come from developing countries, such as Indonesia, Vietnam, China, the Philippines, and others. In general, they occupy the less desirable working positions over Japanese youth, the so-called 3D work (dirty, dangerous, and demanding). Therefore, the current dynamics of these migrant workers' life in Japan becomes an exciting subject to comprehend, especially for the Indonesian migrant workers. This study aims to determine the dynamics of Indonesian worker's life while working in the Japanese fisheries sector. In particular, the study looks at those who work in oyster cultivation in Hiroshima prefecture. This research was carried out using descriptive analysis methods and field study with in-depth interviews conducted from 2016-2018. The interviews performed in this study were structured to find answers for the following questions: What problems do the workers face while living in Japan? What kind of processes did they go through before coming to Japan? While working in the Japanese fishing industry, how was their life as a Muslim minority?


2021 ◽  
Vol 57 (1) ◽  
pp. 18-41
Author(s):  
Eiji Yamada ◽  
Satoshi Shimizutani ◽  
Enerelt Murakami

Recent literature has revealed that financial inclusion enhances economic opportunities and security in developing countries. Moreover, a greater inflow of remittances can promote inclusiveness. In this paper, we explore the potential impacts of the COVID-19 outbreak on financial inclusion by focusing on its detrimental effect on remittance flows to developing countries. Using a household-level dataset collected in rural regions of the Philippines prior to the outbreak, we confirm that remittances are associated with financial inclusion, particularly for women. We discuss the potential impacts of the pandemic on financial inclusion through the change in the flow of remittances. We show that a substantial decline in remittances caused by the COVID-19 crisis may have an adverse effect on financial inclusion in the Philippines.


2021 ◽  
Author(s):  
Mark J. Jones

This thesis proposes a way to examine the form of connection between cell phone use and the formation of groups advocating political change and democratic reform in developing countries. It uses two political events - the People Power II demonstration in Manila, Philippines in 2001, and the national election in Kenya in 2002 - as case studies to test a framework, one that draws from articulation theory and actor-network theory, and is informed by a history of development communication. Cell phone technology has achieved a worldwide subscriber adoption rate like no other digital technology. People in so-called developing countries have been particularly fast adopters of cell phone technology, with Africa being the fastest growing market in the world since 2002, and the Philippines now the world's leader in the number of text messages sent each day. Popular media reports describe people's use of the cell phone as an instrument for the organization of potent political resistance in the digital age. This thesis strives to ground assumptions of the "power of texting" in a robust examination of the factors that lead to the formation of social groups that successfully and peacefully replace governments believed by popular opinion to be corrupt. The first part of the paper reviews the theoretical foundations used to triangulate an examination of the topic. The second part reviews details of the two case events, including socioeconomic and telecommunications conditions that may have contributed to the formation and organization of social groups and the political ideology conveyed during these events. The third part brings together various types of data - voting patterns, poverty, telecommunication policy, and cell phone network coverage - to expose possible correlations between those geographic areas in developing countries that are cell phone enabled and the potential political influence those with access to mobile handsets can exert. The thesis concludes by arguing that cell phone network coverage maps are useful tools in the study of social and cultural phenomenon for three reasons: cell phone networks are dedicated and singular, they track network penetration density in targeted regions with specific economic and demographic criteria, and they enable the tracking of network expansion over time, indicating emerging regions for wireless social communication and economic development. These maps may be read as zones of political power, enabling those with access to the technology to promote their political agenda, while those without access may be disadvantaged.


2016 ◽  
Vol 8 (2) ◽  
pp. 29-34 ◽  
Author(s):  
Kim Jim F. Raborar

Abstract Development is an innate manifestation on earth. It is not even surprising that the world has developed tremendously over the past decade considering the development in the previous decades. That is, development precipitates development. Therefore, even though everybody can see what risks it brings to the earth, we cannot simply restrain it. Of course, we cannot restrain it. The bottomline is that we have no choice but to be part of the development and be one of those who assist in the ever spontaneous development by trying to minimize its unwanted effects to the planet and its inhabitantants, the humans. Even looking at the ‘development’ from one’s own microcosm, we can perceive that as we go through life and gain some of what this world can offer, we produce tons and tons of wastes. These wastes, which are naturally not part of the earth, pollute and disrupt the natural processes of the planet. It is also simple to notice that the fundamental cause of the depletion of the earth’s natural resources was definitely proportional to the increase in population and to the development itself. Here lies one of the underlying global problems at hand aside from poverty, hunger, low access to education, and other socio-anthropological issues we have, this is the issue on natural resources depletion. Even to worldleaders from well-developed countries can recognize that they will also be the ones at the receiving end of this problem. It is basic that living organisms rely on their environment or the abiotic factors, to live sustainably. Considering these problems, the United Nations, with the worldleaders as its composition, has come up with strategies that advocate development while keeping the earth’s natural resources from depletion or the earth’s natural processes from disruption. This advocacy is called Sustainable Development. Sustainable Development is the development that meets the need of the present generation without compromising the ability of the next generation to meet their own needs. It is, at its core, an advocacy for futurism and the next generation. Sustainable Development is primarily anchored with the case of the “carrying capacity” of the planet Earth. It was already implied by several natural scientists as well as social scientists that indeed the Planet Earth increasingly finds it hard to sustain the needs of the human races because of overpopulation. These things result to poverty and hunger around the world. On the otherhand, it is increasing implied that most of the Natural Resources of the planet goes to the well-developed countries, leaving the developing and underdeveloped countries with meager resources. This further increases cases of hunger and poverty. Although it is deceptive that the call for a sustainable development should take its toll on the countries with bigger economy since they consume the most and pollute the most, it is very definite that there should be a much more intensive application in developing countries since we are just about to experience what the rest of the developed countries have already experienced. More importantly, developing countries should advocate Sustainable Development since it is a common knowledge that even if they contribute least to the causes of natural resource depletion and disruption of natural processes, they are the ones who suffer most from the devastating effects of unsustainable development. As citizens of the Republic of the Philippines, we are one of those who suffer most.


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