Figures Fig. 2.1. Real Exchange Rates...

Figures
Fig. 2.1.	Real Exchange Rates Movement in WAMZ During the Pre-WAMZ Formation Phase.	28
Fig. 2.2.	Real Exchange Rates Movement in WAMZ During the Post-WAMZ Formation Phase.	28
Fig. 3.1.	Biplots Showing Samples Color-Coded Using K-means Clustering.	47
Fig. 3.2.	Box Diagrams for the Groups Generated by K-means Clustering.	47
Fig. 5.1.	Influence of BFPTs and Demographics on Facebook Behavior.	74
Fig. 6.1.	Conceptual Framework.	88
Fig. 6.2.	Economic Growth in the Lao PDR from 1990 to 2018.	89
Fig. 6.3.	Trade in Services in the Lao PDR.	91
Fig. 6.4.	Total Trade in Services Between the Lao PDR and Selected Trading Partners.	91
Fig. 7.1.	Recent Indonesian Stock Market Volatility Index.	103
Fig. 7.2.	Bridging Approaches of MVO and FI Portfolio.	105
Fig. 9.1.	K-cycles of the Modern World Economy.	124
Fig. 9.2.	Simulation Model of the Dynamics of Changes in the Effectiveness of the Introduction of Radical Innovations.	126
Fig. 10.1.	Export Values and Growth Rate of Lao PDR Agricultural Products to the PRC (2013–2020).	139
Fig. 10.2.	Top Five Exported Products to the PRC, 2013–2020.	139
Fig. 10.3.	Frequency Indices and Coverage Ratios of NTMs.	140
Fig. 11.1.	Conceptual Framework.	155
Fig. 11.2.	Zmijewski Formula.	156
Fig. 12.1.	Conceptual Framework.	174
Tables
Table 1.1.	Descriptive Statistics Results.	10
Table 1.2.	Correlation Results.	11
Table 1.3.	Hausman Test.	12
Table 1.4.	Panels Corrected Standard Errors Results.	13
Table 2.1.	Estimates of the MSM: Pre-WAMZ Formation Phase.	29
Table 2.2.	Estimates of the MSM: Post-WAMZ Formation Phase.	30
Table 2.3.	Distribution of Regimes: Pre-WAMZ Formation Phase.	31
Table 2.4.	Distribution of Regimes: Post-WAMZ Formation Phase.	31
Table 3.1.	Descriptive Statistics.	45
Table 3.2.	The Frequency Distribution of Fund Types.	46
Table 3.3.	Summary of the Results of Cluster Analysis by K-means Method.	46
Table 3.4.	The Distribution of Item Types by Cluster.	48
Table 4.1.	Data Description for Portfolio Formation Variables.	58
Table 4.2.	Data Description for Fama and French Factors of All Listed Companies.	59
Table 4.3.	Data Description for Fama and French Factors of ESG100 Listed Companies.	59
Table 4.4.	Excess Returns from All Listed Companies in the SET.	60
Table 4.5.	Excess Returns from ESG100 Companies in the SET.	61
Table 4.6.	Multiple Linear Regression Analysis from All Listed Companies in the SET with a 6-Month Holding Period.	61
Table 4.7.	Multiple Linear Regression Analysis from All Listed Companies in the SET with a 9-month Holding Period.	62
Table 4.8.	Multiple Linear Regression Analysis from All Listed Companies in the SET with a 12-Month Holding Period.	62
Table 4.9.	Multiple Linear Regression Analysis from ESG100 Companies in the SET with a 12-month Holding Period.	63
Table 5.1.	Factor Loadings of Posting (a), Feature Usage (b), and Making Friends (c).	72
Table 5.2.	Factor Loadings of Neuroticism (1), Conscientiousness (2), Extraversion (3), Openness to Experience (4), and Agreeableness (5).	73
Table 5.3.	Confirmatory Factor Analysis Results for Proposed Model.	75
Table 5.4.	Descriptive Statistics and Discriminant Validity.	76
Table 5.5.	Regression Path.	77
Table 6.1.	Summary of Relevant Empirical Studies on the Trade in Services.	88
Table 6.2.	The Definition of Variables.	93
Table 6.3.	Sample Size and Summary Statistics for the Data.	93
Table 6.4.	Unit Root Testing Results.	95
Table 6.5.	Results of the ARDL Long-Run Form and Bounds Test.	96
Table 6.6.	Results of Long-Run Correlation Analysis.	96
Table 7.1.	Benchmark Index in Recent 5 Years Period.	107
Table 7.2.	Markowitz MVO Portfolio Return from July 2015 to July 2019.	108
Table 7.3.	Fundamental Indexing Annual Return Table.	109
Table 7.4.	Predictive Blend Portfolio Annual Return Table.	110
Table 8.1.	Business Fields.	117
Table 8.2.	p-Value (Borrowing Financial Literacy).	118
Table 8.3.	p-Value (Budgeting Financial Literacy).	118
Table 10.1.	MAST Team NTM Classification Document Structure.	134
Table 10.2.	Explanation of Model Variables in the Model.	141
Table 10.3.	Fixed-Effects Regressions on the Exports of Lao PDR to the PRC with FI.	141
Table 10.4.	Fixed-Effects Regressions on the Exports of Lao PDR to the PRC with CR.	141
Table 11.1.	Zone of Discriminant of Zmijewski Score.	157
Table 11.2.	Health Level Assessment.	157
Table 11.3.	Indicators of Health Level Assessment.	158
Table 11.4.	Financial Distress Before the COVID-19 Pandemic.	159
Table 11.5.	Financial Distress During the COVID-19 Pandemic.	159
Table 11.6.	Financial Distress Before the COVID-19 Pandemic.	161
Table 11.7.	Financial Distress During the COVID-19 Pandemic.	161
Table 12.1.	List of Variables in Data Set.	176
Table 12.2.	Descriptive Statistics.	177
Table 12.3.	Initial Multicollinearity Test.	178
Table 12.4.	Revised Multicollinearity Test.	179
Table 12.5.	WOE of the Demographic Indicator.	180
Table 12.6.	WOE of the Asset Indicator.	180
Table 12.7.	WOE of the Employment Indicator.	181
Table 12.8.	WOE of the Financing Payment Indicator.	182
Table 12.9.	Information Value.	182
Table 12.10.	p-Value of Variable.	183
Table 12.11.	The Goodness of Fit.	184
Table 12.12.	The Initial Logistic Regression.	184
Table 12.13.	The Final Logistic Regression.	185
Table 12.14.	Parameter and Value.	186
Table 12.15.	Scorecard Per Variable.	187
Table 13.1.	Descriptive Statistical Analysis.	195
Table 13.2.	Overall Model Fit in the Q2 2018 Period.	196
Table 13.3.	Overall Model Fit in the Q2 2021 Period.	196
Table 13.4.	Hosmer and Lemeshow Test Period Q2 2018.	196
Table 13.5.	Hosmer and Lemeshow Test Period Q2 2021.	196
Table 13.6.	Coefficient of Determination Period Q2 2018.	197
Table 13.7.	Coefficient of Determination Period Q2 2021.	197
Table 13.8.	Logistics Regression Model in the Q2 2018 Period.	198
Table 13.9.	Logistics Regression Model in the Period of Q2 2021.	199
Table 14.1.	Descriptive Statistics.	208
Table 14.2.	Correlations.	208
Table 14.3.	Main Regression Results.	209
Table 14.4.	Nonlinear Quadratic Relationship.	210
Table 14.5.	Interaction Term.	211
Table 14.6.	Tobin’s Q as Alternative Measure of Performance.	212
Table 14.7.	Subperiod Analysis.	213
Table 14.8.	Bond Payable to Asset Ratio Robust Check.	213
Table 15.1.	Sample Statistics of Real Estate Companies.	223
Table 15.2.	Main Regression Results.	224
Table 15.3.	ROE as a Dependent Variable.	226
Table 15.4.	Tobin’s Q as a Dependent Variable.	227
Table 15.5.	Non-state-owned Companies.	228
Table 15.6.	State-owned Companies.	229
Table 15.7.	Lagged Variable Analysis.	230

Figures
Fig. 2.1.	Real Exchange Rates Movement in WAMZ During the Pre-WAMZ Formation Phase.	28
Fig. 2.2.	Real Exchange Rates Movement in WAMZ During the Post-WAMZ Formation Phase.	28
Fig. 3.1.	Biplots Showing Samples Color-Coded Using K-means Clustering.	47
Fig. 3.2.	Box Diagrams for the Groups Generated by K-means Clustering.	47
Fig. 5.1.	Influence of BFPTs and Demographics on Facebook Behavior.	74
Fig. 6.1.	Conceptual Framework.	88
Fig. 6.2.	Economic Growth in the Lao PDR from 1990 to 2018.	89
Fig. 6.3.	Trade in Services in the Lao PDR.	91
Fig. 6.4.	Total Trade in Services Between the Lao PDR and Selected Trading Partners.	91
Fig. 7.1.	Recent Indonesian Stock Market Volatility Index.	103
Fig. 7.2.	Bridging Approaches of MVO and FI Portfolio.	105
Fig. 9.1.	K-cycles of the Modern World Economy.	124
Fig. 9.2.	Simulation Model of the Dynamics of Changes in the Effectiveness of the Introduction of Radical Innovations.	126
Fig. 10.1.	Export Values and Growth Rate of Lao PDR Agricultural Products to the PRC (2013–2020).	139
Fig. 10.2.	Top Five Exported Products to the PRC, 2013–2020.	139
Fig. 10.3.	Frequency Indices and Coverage Ratios of NTMs.	140
Fig. 11.1.	Conceptual Framework.	155
Fig. 11.2.	Zmijewski Formula.	156
Fig. 12.1.	Conceptual Framework.	174
Tables
Table 1.1.	Descriptive Statistics Results.	10
Table 1.2.	Correlation Results.	11
Table 1.3.	Hausman Test.	12
Table 1.4.	Panels Corrected Standard Errors Results.	13
Table 2.1.	Estimates of the MSM: Pre-WAMZ Formation Phase.	29
Table 2.2.	Estimates of the MSM: Post-WAMZ Formation Phase.	30
Table 2.3.	Distribution of Regimes: Pre-WAMZ Formation Phase.	31
Table 2.4.	Distribution of Regimes: Post-WAMZ Formation Phase.	31
Table 3.1.	Descriptive Statistics.	45
Table 3.2.	The Frequency Distribution of Fund Types.	46
Table 3.3.	Summary of the Results of Cluster Analysis by K-means Method.	46
Table 3.4.	The Distribution of Item Types by Cluster.	48
Table 4.1.	Data Description for Portfolio Formation Variables.	58
Table 4.2.	Data Description for Fama and French Factors of All Listed Companies.	59
Table 4.3.	Data Description for Fama and French Factors of ESG100 Listed Companies.	59
Table 4.4.	Excess Returns from All Listed Companies in the SET.	60
Table 4.5.	Excess Returns from ESG100 Companies in the SET.	61
Table 4.6.	Multiple Linear Regression Analysis from All Listed Companies in the SET with a 6-Month Holding Period.	61
Table 4.7.	Multiple Linear Regression Analysis from All Listed Companies in the SET with a 9-month Holding Period.	62
Table 4.8.	Multiple Linear Regression Analysis from All Listed Companies in the SET with a 12-Month Holding Period.	62
Table 4.9.	Multiple Linear Regression Analysis from ESG100 Companies in the SET with a 12-month Holding Period.	63
Table 5.1.	Factor Loadings of Posting (a), Feature Usage (b), and Making Friends (c).	72
Table 5.2.	Factor Loadings of Neuroticism (1), Conscientiousness (2), Extraversion (3), Openness to Experience (4), and Agreeableness (5).	73
Table 5.3.	Confirmatory Factor Analysis Results for Proposed Model.	75
Table 5.4.	Descriptive Statistics and Discriminant Validity.	76
Table 5.5.	Regression Path.	77
Table 6.1.	Summary of Relevant Empirical Studies on the Trade in Services.	88
Table 6.2.	The Definition of Variables.	93
Table 6.3.	Sample Size and Summary Statistics for the Data.	93
Table 6.4.	Unit Root Testing Results.	95
Table 6.5.	Results of the ARDL Long-Run Form and Bounds Test.	96
Table 6.6.	Results of Long-Run Correlation Analysis.	96
Table 7.1.	Benchmark Index in Recent 5 Years Period.	107
Table 7.2.	Markowitz MVO Portfolio Return from July 2015 to July 2019.	108
Table 7.3.	Fundamental Indexing Annual Return Table.	109
Table 7.4.	Predictive Blend Portfolio Annual Return Table.	110
Table 8.1.	Business Fields.	117
Table 8.2.	p-Value (Borrowing Financial Literacy).	118
Table 8.3.	p-Value (Budgeting Financial Literacy).	118
Table 10.1.	MAST Team NTM Classification Document Structure.	134
Table 10.2.	Explanation of Model Variables in the Model.	141
Table 10.3.	Fixed-Effects Regressions on the Exports of Lao PDR to the PRC with FI.	141
Table 10.4.	Fixed-Effects Regressions on the Exports of Lao PDR to the PRC with CR.	141
Table 11.1.	Zone of Discriminant of Zmijewski Score.	157
Table 11.2.	Health Level Assessment.	157
Table 11.3.	Indicators of Health Level Assessment.	158
Table 11.4.	Financial Distress Before the COVID-19 Pandemic.	159
Table 11.5.	Financial Distress During the COVID-19 Pandemic.	159
Table 11.6.	Financial Distress Before the COVID-19 Pandemic.	161
Table 11.7.	Financial Distress During the COVID-19 Pandemic.	161
Table 12.1.	List of Variables in Data Set.	176
Table 12.2.	Descriptive Statistics.	177
Table 12.3.	Initial Multicollinearity Test.	178
Table 12.4.	Revised Multicollinearity Test.	179
Table 12.5.	WOE of the Demographic Indicator.	180
Table 12.6.	WOE of the Asset Indicator.	180
Table 12.7.	WOE of the Employment Indicator.	181
Table 12.8.	WOE of the Financing Payment Indicator.	182
Table 12.9.	Information Value.	182
Table 12.10.	p-Value of Variable.	183
Table 12.11.	The Goodness of Fit.	184
Table 12.12.	The Initial Logistic Regression.	184
Table 12.13.	The Final Logistic Regression.	185
Table 12.14.	Parameter and Value.	186
Table 12.15.	Scorecard Per Variable.	187
Table 13.1.	Descriptive Statistical Analysis.	195
Table 13.2.	Overall Model Fit in the Q2 2018 Period.	196
Table 13.3.	Overall Model Fit in the Q2 2021 Period.	196
Table 13.4.	Hosmer and Lemeshow Test Period Q2 2018.	196
Table 13.5.	Hosmer and Lemeshow Test Period Q2 2021.	196
Table 13.6.	Coefficient of Determination Period Q2 2018.	197
Table 13.7.	Coefficient of Determination Period Q2 2021.	197
Table 13.8.	Logistics Regression Model in the Q2 2018 Period.	198
Table 13.9.	Logistics Regression Model in the Period of Q2 2021.	199
Table 14.1.	Descriptive Statistics.	208
Table 14.2.	Correlations.	208
Table 14.3.	Main Regression Results.	209
Table 14.4.	Nonlinear Quadratic Relationship.	210
Table 14.5.	Interaction Term.	211
Table 14.6.	Tobin’s Q as Alternative Measure of Performance.	212
Table 14.7.	Subperiod Analysis.	213
Table 14.8.	Bond Payable to Asset Ratio Robust Check.	213
Table 15.1.	Sample Statistics of Real Estate Companies.	223
Table 15.2.	Main Regression Results.	224
Table 15.3.	ROE as a Dependent Variable.	226
Table 15.4.	Tobin’s Q as a Dependent Variable.	227
Table 15.5.	Non-state-owned Companies.	228
Table 15.6.	State-owned Companies.	229
Table 15.7.	Lagged Variable Analysis.	230

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