https://digital.lib.ueh.edu.vn/handle/UEH/76602 Sun, 05 Jul 2026 11:35:37 GMT 2026-07-05T11:35:37Z https://digital.lib.ueh.edu.vn/handle/UEH/78171 Title: The impact of remittances on household welfare: evidence from Indonesia Author(s): Ayu Fitriani; Jordan van Rijn Abstract: Purpose: This study assesses the impact of remittances on Indonesian household welfare by examining dietary quality and asset ownership. It addresses prior methodological gaps by employing diverse econometric techniques to establish robust associations between remittances, food expenditure and investment behavior. This study draws on the New Economics of Labor Migration (NELM) and Permanent Income Hypothesis (PIH) frameworks to interpret how remittances relax liquidity constraints (short-term consumption) and increase permanent income (asset accumulation). Design/methodology/approach: Analyzing Indonesia Family Life Survey data (2000–2014), the study employs Two-Way Fixed Effects (TWFE) and Difference-in-Differences (DiD) models across three survey waves. Quantile regressions explore distributional effects by controlling for household characteristics and economic status. Robustness checks using various new TWFE and DiD methods validate findings. Findings: The study shows that remittances are associated with a 94% increase in asset ownership and a fourfold rise in food expenditure. Higher spending on nutrient-rich animal protein indicates improved dietary quality. The poorest households benefit most, with food spending 3.5 times higher than that of non-recipients. Research limitations/implications: This analysis relies on self-reported remittance data and excludes migrants that are absent for more than 12 months. Future research could integrate extended migration histories and explore the intergenerational effects of remittances. Practical implications: Lowering formal remittance fees, expanding micro-savings and financial-literacy programs and introducing nutrition-focused education or food vouchers can translate remittances into sustained welfare gains, especially among lower-expenditure households. Originality/value: Using TWFE and a multi-period DiD framework, this study provides evidence consistent with NELM and PIH, showing that remittances increase both short- and long-term asset accumulation. Thu, 01 Jan 2026 00:00:00 GMT https://digital.lib.ueh.edu.vn/handle/UEH/78171 2026-01-01T00:00:00Z https://digital.lib.ueh.edu.vn/handle/UEH/78167 Title: IJV announcements and shareholder value creation: do industrial diversification and relatedness matter? Author(s): Kin-Yip Ho; Zhaoyong Zhang; Lanyue Zhou Abstract: Purpose: This study empirically examines how industrial diversification and partner business relatedness influence shareholder value, focusing on US multinational enterprises’ (MNEs) worldwide joint venture (JV) announcements, with particular emphasis on East Asian economies. Design/methodology/approach: Drawing on theories from finance, strategic management and international business, we apply a standard event study methodology and employ three parametric and nonparametric tests (i.e. the Patell Z-test, the rank test and the generalized sign test) to assess the impact. We calculate abnormal returns (ARs) as the difference between actual and expected returns and average them across firms to obtain the average AR for each day in the [−10, +10] window, thereby capturing potential information leakage before JV announcement and delayed market reactions afterward (Brown and Warner, 1985; Fama, 1998). Findings: We find robust evidence of a diversification premium, confirming that diversification through IJVs increases shareholder value for US partners and partnering with businesses in unrelated industries can amplify the value gains from diversification. Practical implications: The findings suggest that IJVs can be a more effective entry mode than acquisitions or greenfield investments when MNEs expand into non-core business areas, offering strategic guidance for both investment mode choice and partner selection. Social implications: Our findings have important implications for firms’ investment mode and partner selection decisions when they expand internationally. Originality/value: To the best of our knowledge, this study is among the first to systematically investigate the combined effects of industrial diversification and partner business relatedness on shareholder value in the context of US firms undertaking IJV investments in East Asian economies. Wed, 01 Jan 2025 00:00:00 GMT https://digital.lib.ueh.edu.vn/handle/UEH/78167 2025-01-01T00:00:00Z https://digital.lib.ueh.edu.vn/handle/UEH/78170 Title: Assessment of the ASEAN–Korea FTA: findings on ASEAN-5 manufacturing and high-tech exports Author(s): Amadeo Navarro Zapata; María Arrazola; José de Hevia Abstract: Purpose: The ASEAN–Korea Free Trade Agreement (FTA) was signed in 2006 and took effect the following year. This research seeks to determine whether the implementation of the ASEAN–Korea FTA has been satisfactory for ASEAN-5 total and high-tech manufactured exports. Design/methodology/approach: Manufacturing export flows between the ASEAN-5 and Korea are analyzed using the synthetic control method. This approach allows us to develop a counterfactual unit for manufacturing exports in a scenario in which no FTA would have been implemented. Findings: Our results reveal that the ASEAN–Korea FTA has had a significantly positive impact on manufactured exports from the ASEAN-5 countries, both at the country and aggregate levels. Furthermore, it is observed that this positive outcome has also held for high-tech manufactured exports. Originality/value: This research expands the literature in the field of trade agreement evaluation. Given the important economic implications of high-tech exports, this paper assesses the consequences that the ASEAN–Korea FTA has for such manufactured ASEAN exports. Moreover, this research studies whether the synthetic indicator is a good predictor of exports for the period before the FTA, analyzing the stochastic properties of the difference between these variables. Thu, 01 Jan 2026 00:00:00 GMT https://digital.lib.ueh.edu.vn/handle/UEH/78170 2026-01-01T00:00:00Z https://digital.lib.ueh.edu.vn/handle/UEH/78169 Title: Is there an augmented Kuznets curve among the provinces of the Philippines? A panel data analysis Author(s): Sachiko Miyata; Takahiro Akita Abstract: Purpose: This study explores the relationship between regional economic development and income inequality in the Philippines using a provincial panel dataset. Design/methodology/approach: This study performs static, spatial and dynamic panel data analyses to assess whether income inequality follows an N-shaped augmented Kuznets curve in the context of regional economic development. Findings: Our findings reveal that income inequality follows a semi-N-shaped curve, indicating that in the early stages of regional economic development, income inequality increases but at a decelerating rate. Unlike the inverted-U curve, it does not transition into a decline. After reaching an inflection point, income inequality rises. The Philippines has undergone a rapid shift in its industrial structure from relatively uniform manufacturing to skill-diverse services. This appears to have been particularly pronounced in the wealthier provinces, with their gross domestic product (GDP) shifting from manufacturing to high-productivity services. These provinces seem to have experienced the rising portion of the second Kuznets wave. Originality/value: A panel dataset covering 87 provinces was constructed based on five rounds of the Family Income and Expenditure Survey from 1997 to 2018. This panel dataset resolves many of the issues encountered in cross-country studies on economic development and income inequality. Our study is the first attempt to investigate the evolution of income inequality in relation to regional economic development in the Philippines. Thu, 01 Jan 2026 00:00:00 GMT https://digital.lib.ueh.edu.vn/handle/UEH/78169 2026-01-01T00:00:00Z