Guide For Authors

1. Introduction

The Journal of Asian Finance, Economics and Business (JAFEB) is an international peer-reviewed journal devoted to contemporary issues of finance, economics and business in Asia, including Central Asia, East Asia, South Asia, Southeast Asia, and Middle East. The journal is published four issues per year quarterly in full English by the joint effort of an international consortium of Asian finance, economics and business institutes and the KODISA. The mission of JAFEB is to bring together the latest theoretical and empirical finance, economics and business management research in Asian regions.

1.1. Submission

Authors are requested to submit their papers electronically by e-mail attachments to Editorial office: The attached files should be in MS Word, WordPerfect or RTF format. Any supplemental files should also be in Microsoft Word, RTF, WordPerfect, or Excel format. PDFs are not acceptable. Authors are requested to submit the text, tables, and artwork in electronic form to this address. The Publisher and Editor regret that they are not able to consider submissions that do not follow these procedures. All correspondence, including notification of the Editor's decision and requests for revision, takes place by e-mail.

1.2. Submission Declaration

Submission of an article implies that the work described has not been published previously (except in the form of an abstract or as part of a published seminar, lecture or academic thesis), that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, it will not be published elsewhere including electronically in the same form, in English or in any other language, without the written consent of the copyright-holder.
Each submission must contain “Submission Declaration Statements” in its cover letter as follows: [“We hereby confirm that the manuscript has no any actual or potential conflict of interest with any parties, including any financial, personal or other relationships with other people or organizations within three years of beginning the submitted work that could inappropriately influence or be perceived to influence. We confirm that the paper has not been published previously, it is not under consideration for publication elsewhere, and the manuscript is not being simultaneously submitted elsewhere.”]

1.3. Publication Ethics and Publication Malpractice

The journal is committed to upholding the highest standards of publication ethics and takes all possible measures against any publication malpractices. All authors submitting their works to the journal for publication as original articles attest that the submitted works represent their authors’ contributions and have not been copied or plagiarized in whole or in part from other works. The authors acknowledge that they have disclosed all and any actual or potential conflicts of interest with their work or partial benefits associated with it. In the same manner, the journal is committed to objective and fair double-blind peer-review of the submitted for publication works and to prevent any actual or potential conflict of interests between the editorial and review personnel and the reviewed material. Any departures from the above-defined rules should be reported directly to the Editors-in-Chief, who is unequivocally committed to providing swift resolutions to any of such a type of problems. Further to the above, the journal is following the highest standards of publication ethics and the Code of Conduct for Journal Editors. By joining and supporting the Committee on Publication Ethics (COPE) the journal will help support the ethical imperative in promoting publication ethics and providing advice for editors and publishers (

1.4. Plagiarism Policies and Ethical Guidelines

The Journal of Asian Finance, Economics and Business (JAFEB) uses the iThenticate software to detect instances of overlapping and similar text in submitted manuscripts. You can be reassured that JAFEB is committed to actively combating plagiarism and publishing original research. To find out more about CrossCheck visit
iThenticate is also available to authors and researchers who wish to check their papers before submission. iThenticate compares submitted documents to extensive data repositories to create a comprehensive Similarity Report, which highlights and provides links to any significant text matches, helping to ensure that you are submitting an original and well-attributed document. iThenticate for Researchers is a separate service to CrossCheck. Per JAFEB’s "Code of Ethics" authors are expected to adhere to the guidelines outlined in this section.

1.5. Conflict of Interest

All authors are requested to disclose any actual or potential conflict of interest including any financial, personal or other relationships with other people or organizations within three years of beginning the submitted work that could in appropriately influence, or be perceived to influence, their work.

1.6. Copyright

Upon acceptance of an article, authors will be asked to complete a "Journal Publishing Agreement Form" of the Publisher. Acceptance of the agreement will ensure the widest possible dissemination of information. An e-mail will be sent to the corresponding author confirming receipt of the manuscript together with a "Journal Publishing Agreement Form" or a link to the online version of this agreement.

The corresponding author will be responsible for the following:
1) Ensuring that all authors are identified on the copyright agreement, and notifying the editorial office of any changes in the authorship.
2) Warranting and indemnifying the journal owner and publisher on behalf of all co-authors.
Although such instances are very rare, you should be aware that in the event that a co-author has included content in his or her portion of the article that infringes the copyright of another or is otherwise in violation of any other warranty listed in the agreement, you will be the sole author indemnifying the publisher and the editor of the journal against such violation.

The journal will permit the author to use the article elsewhere after publication, including posting the final post-acceptance manuscript version on the author's personal web pages or in an institutional repository maintained by the institution to which the author is affiliated, in other works or for the purposes of the author's teaching and research, provided acknowledgement is given to the Journal as the original source of the publication.
KODISA applies the Creative Commons Attribution-NonCommercial 4.0 International (CC BY-NC 4.0) to works we publish (read the human-readable summary  or the full license legal code).
This license was developed to facilitate open access – namely, free immediate access to, and unrestricted reuse of, original works of all types. Under this license, authors agree to make articles legally available for reuse, without permission or fees, for virtually any purpose. Anyone may copy, distribute or reuse these articles, as long as the author and original source are properly cited.


2. The Preparation of Manuscripts (Main Document)

2.1. Language

Please write your text in good English (American or British usage is accepted, but not a mixture of these).

2.2. Word Count

While no maximum length for manuscripts is prescribed, authors are encouraged to write concisely. As a guide, regular articles should be between 5,000 - 7,000 words in length.

2.3. Style of Presentation

1) Use A4 or Letter sheet size.
2) Margins should be 20mm for A4 size and one inch (25mm) for Letter size at the top, bottom, and sides of the page.
3) Font type should be 12-point Times Roman throughout the document.
4) Double-space all body text, including abstract, references, endnotes and appendices.
5) Number all pages in your manuscript, starting with the Abstract page.
6) Manuscript text should be left-aligned.

2.4. Use of Word Processing Software

It is important that the file be saved in the native format of the word processor used. The text should be in single-column format. Keep the layout of the text as simple as possible. Most formatting codes will be removed and replaced on processing the article. Do not embed "graphically designed" equations or tables, but prepare these using the word processor's facility. Do not import the figures into the text file but, instead, indicate their approximate locations directly in the electronic text and on the manuscript. To avoid unnecessary errors you are strongly advised to use the "spell-check" and "grammar-check" functions of your word processor.


3. The Presentation of Manuscripts

3.1. Article Structure

Divide your article into clearly defined and numbered sections. Subsections should be numbered 1.1. (then 1.1.1., 1.1.2., ...), 1.2.,etc. (the abstract is not included in section numbering). Use this numbering also for internal cross-referencing: do not just refer to "the text". Any subsection may be given a brief heading. Each heading should appear on its own separate line.

3.1.1. Introduction
State the objectives of the work and provide an adequate background, avoiding a detailed literature survey or a summary of the results.

3.1.2 Literature Review
Provide an adequate background with detailed literature survey or a summary of the results of previous studies.

3.1.3. Methodology
Provide sufficient detail to allow the work to be reproduced. Methods already published should be indicated by a reference: only relevant modifications should be described.

3.1.4. Results
Provide sufficient detail to allow the results to be meaningful and informative.

3.1.5. Discussion
This should explore the significance of the results of the work, not repeat them. A combined Results and Discussion section is often appropriate. Avoid extensive citations and discussion of published literature.

3.1.6. Conclusions
The main conclusions of the study may be presented in a short Conclusions section, which may stand alone or form a subsection of a Discussion or Results and Discussion section.

3.1.7. Appendices
If there is more than one appendix, they should be identified as A, B, etc. Formulae and equations in appendices should be given separate numbering: Eq. (A.1), Eq. (A.2), etc.; in a subsequent appendix, Eq. (B.1) and so on. Similarly for tables and figures: Table A.1; Fig. A.1, etc.

3.2. Tables, Figures and Artwork

3.2.1. Abbreviations
Define abbreviations that are not standard in this field in a footnote to be placed on the first page of the article. Such abbreviations that are unavoidable in the abstract must be defined at their first mention there, as well as in the footnote. Ensure consistency of abbreviations throughout the article.

3.2.2. Mathematical Formulae
Present simple formulae in the line of normal text where possible. In principle, variables are to be presented in italics. Use the solidus (/) instead of a horizontal line, (e.g., X p /Y m). Powers of e are often more conveniently denoted by exp. Number consecutively any equations that have to be displayed separate from the text (if referred to explicitly in the text).

3.2.3. Other Symbols
Greek letters and unusual symbols should be identified in the margin. Distinction should be made between capital and lower case letters; between the letter O and zero; between the letter I, the number one and prime; between k and kappa. The numbers identifying mathematical expressions should be placed in parentheses.

3.2.4. Footnotes
Footnotes should be used sparingly. Number them consecutively throughout the article, using superscript Arabic numbers. Many word processors build footnotes into the text, and this feature may be used. Should this not be the case, indicate the position of footnotes in the text and present the footnotes themselves separately at the end of the article. Do not include footnotes in the Reference list.

3.2.5. Table Footnotes
Indicate each footnote in a table with a superscript lowercase letter.

3.2.6. Artwork
1) Make sure you use uniform lettering and sizing of your original artwork.
2) Save text in illustrations as "graphics" or enclose the font.
3) Only use the following fonts in your illustrations: Arial, Courier, Times, Symbol.
4) Number the illustrations according to their sequence in the text.
5) Provide captions to illustrations separately.
6) Produce images near to the desired size of the printed version.
7) Submit each figure as a separate file. Please do not:
8) Supply embedded graphics in your word processor document;
9) Supply files that are optimized for screen use (like GIF, BMP, PICT, WPG);
10) Supply files that are too low in resolution;
11) Submit graphics that are disproportionately large for the content.

3.2.7. Color Artwork
Please make sure that artwork files are in an acceptable format (TIFF, EPS or MS Office files) and with the correct resolution. If, together with your accepted article, you submit usable color figures then the Publisher will ensure that these figures will appear in color in the printed version. For color reproduction in print, you will receive information regarding the costs from the Publisher after receipt of your accepted article. Please note: Because of technical complications which can arise by converting color figures to "gray scale" (for the printed version should you not opt for color in print) please submit in addition usable black and white versions of all the color illustrations.

3.2.8. Figure Captions
Ensure that each illustration has a caption. Supply captions separately, not attached to the figure. A caption should comprise a brief title (not on the figure itself) and a description of the illustration. Keep text in the illustrations themselves to a minimum but explain all symbols and abbreviations used.

3.2.9. Tables
Number tables consecutively in accordance with their appearance in the text. Place footnotes to tables below the table body and indicate them with superscript lowercase letters. Avoid vertical rules. Be sparing in the use of tables and ensure that the data presented in tables do not duplicate results described elsewhere in the article.

3.3. Citation and Reference Style Guides

Per JAFEB’s "Citation and Reference Style Guides" authors are expected to adhere to the guidelines of APA (American Psychological Association).

Text: Citations in the text should follow the referencing style used by the American Psychological Association. You are referred to the Publication Manual of the American Psychological Association, Sixth (6th) Edition, ISBN 978-1-4338-0561-5. Details concerning this referencing style can also be found at
References List: references should be arranged first alphabetically and then further sorted chronologically if necessary. More than one reference from the same author(s) in the same year must be identified by the letters 'a', 'b', 'c', etc., placed after the year of publication.

Web References: As a minimum, the full URL should be given and the date when the reference was last accessed. Any further information, if known (DOI, author names, dates, reference to a source publication, etc.), should also be given. Web references can be listed separately (e.g., after the reference list) under a different heading if desired, or can be included in the reference list.

3.3.1. Citation in Text
Please ensure that every reference cited in the text is also present in the reference list (and vice versa). Any references cited in the abstract must be given in full. Unpublished results and personal communications are not recommended in the reference list, but may be mentioned in the text. If these references are included in the reference list they should follow the standard reference style of the journal.

All citations in the text should refer to:
Single author: the author's name (without initials, unless there is ambiguity) and the year of publication;
Two authors: list all authors' names with "&" separating the two authors and the year of publication;
More than three up to five authors: at first citation list all authors' names with "&" separating the last two authors and the year of publication; If more than six authors, list the first six authors followed by et al. and the year of publication. In subsequent citations use the first author et al.

Citations may be made directly (or parenthetically). Groups of references should be listed first alphabetically, then chronologically. For example, Kim and Lee (2008) suggest ..., or Lee and Cormier (2009) find that ..., or A study of distribution economics (Youn, 2007) has shown that ...'
When citing a list of references in the text, put the list in alphabetical order and separate authors by semicolons; for example, "Several studies (Kim & Lee, 2008; Lee & Cormier, 2009a, 2009b; Youn & Kim, 2003) support this conclusion."
To cite a direct quotation, give pages after the year, separated by a comma and a space. For example: "Smith argues that for something to happen it must be not only 'favorable and possible but also wanted and triggered' (2008, p.38)".

3.3.2. List of References
References should be arranged first alphabetically and then further sorted chronologically if necessary. More than one reference from the same author(s) in the same year must be identified by the letters "a", "b", "c", etc., placed after the year of publication.

Reference to an article in journals:
Kim, P.-J. (2009). A study on the risk management of Korean firms in Chinese market. Journal of Distribution Science, 7(2), 5-28.
Lee, J. W., & Cormier, J. F. (2010). Effects of consumers’ demographic profile on mobile commerce Adoption. Journal of Distribution Science, 8(1), 5-11.
Youn, M.-K., Kim, Y.-O., Lee, M.-K., & Namkung, S. (2006). Domestic restrictions on the opening of retail stores. Journal of Distribution Science, 6(2), 121-160.

Reference to a book (ISBN):
Greenberg, P. (2001). CRM at the speed of light (5th ed.). Emeryville, CA: Lycos Press.
Youn, Myoung-Kil, & Kim, Yu-Oh (2016). Principles of Distribution (2nd ed.). Seoul, Korea: Doonam Publishing.

Reference to a thesis for doctorate (or master's thesis):
Kim, Y. M. (2001). Study on factors of introduction of supply chain management of Korean companies. Seoul, Korea: Thesis for Doctorate in Jungang University.

Reference to a chapter in an edited book:
Burton, R. R. (1982). Diagnosing bugs in a simple procedure skill. In D. H. Sleeman & J. S. Brown (Eds.), Intelligent Tutoring Systems (pp.120-135), London, UK: Academic Press.

For published conference proceedings:
Lee, J. W., & Kim, Y. E. (2007). Green distribution and its economic impact on the distribution industry. Proceedings of the Second International Conference of KODISA (pp.12-32). Seoul, Korea: KODISA.

For magazine articles:
Youn, M.-K. (2010, July). Distribution science in medical industry. Medical Distribution Today, 39(4), 86-93.

For newspaper articles:
Kim, Y.-E. (2011). New challenges and opportunities for traditional markets. Korea Distribution News, 21 January, Section 3-4. Seoul, Korea.
For newspaper articles (non-authored):
Korea Distribution News (2011). Future of traditional markets. Korea Distribution News, 21 January, Section 3-4. Seoul, Korea.

For Internet resources:
Kim, D.-H., & Youn, M.-K. (2012). Distribution knowledge, research, and journal. Proceeding of 2012 Summer International Conference of KODISA (pp.73-78). Seoul, Korea. Retrieved August 30, 2012, from
China National Petroleum Corporation (2009). 2009 Annual Reports. Beijing, China: CNPC. Retrieved September 30, 2010, from


4. The Information of Title Page

4.1. Title

Concise and informative. Maximum 15 words. Titles are often used in information-retrieval systems. Avoid abbreviations and formulae where possible.

4.2. Author Names and Affiliations

Where the family name may be ambiguous (e.g., a double name), please indicate this clearly. Present the authors' affiliation addresses (where the actual work was done) below the names. Indicate all affiliations with a lower-case letter immediately after the author's name and in front of the appropriate address. Provide the full postal address of each affiliation, including the country name, and, the e-mail address of each author. Note: This information should be provided on a separate sheet and authors should not be identified anywhere else in the manuscript.

4.3. Corresponding Author

Clearly indicate who will handle correspondence at all stages of refereeing and publication, also post-publication. Ensure that telephone (with country and area code) are provided in addition to the e-mail address.

4.4. Abstract

A concise and factual abstract is required. About 200 words in total are recommended. The abstract should state briefly 1) the purpose of the research, 2) research design and methodology, 3) the principal results, and 4) major conclusions. An abstract is often presented separately from the article, so it must be able to stand alone. For this reason, non-standard or uncommon abbreviations should be avoided, but if essential they must be defined at their first mention in the abstract itself.

4.5. Keywords

Immediately after the abstract, provide a maximum of 5 keywords. These keywords will be used for indexing purposes.

4.6. JEL Classification Code

Immediately after keywords, provide a maximum of 5 JEL Classification codes. These codes will be used for indexing purposes.

4.7. Acknowledgements

Collate acknowledgements in a separate section at the end of the title page and do not, therefore, include them on the main document (manuscripts) or otherwise. List here those individuals who provided help during the research (e.g., providing language help, writing assistance or proof reading the article, etc.).


5. The Checklist of Submission

It is hoped that this list will be useful during the final checking of an article prior to sending it to the journal's Editor for review. Please consult this Guide for Authors for further details of any item. For email submissions you have prepared 3 files:

File 1. The Title Page

Ensure that the following items are present:
- Full detail of authors
- One author designated as corresponding author: • E-mail address • Full postal address • Telephone and fax numbers
- The title page must contain “Submission Declaration Statement” in its cover letter as follows:
[“We hereby confirm that the manuscript has no any actual or potential conflict of interest with any parties, including any financial, personal or other relationships with other people or organizations within three years of beginning the submitted work that could inappropriately influence or be perceived to influence.
We confirm that the paper has not been published previously, it is not under consideration for publication elsewhere, and the manuscript is not being simultaneously submitted elsewhere.”]

Author identification: Every effort should be made to ensure that submission material outside of the title page file contains no clues as to author identity. Footnotes containing information pertaining to the identity of the author or institutional affiliation should be on separate pages. The complete title of the article and the name of the author(s) should be typed only on the title page file to ensure anonymity in the review process. Subsequent pages should have no author names, but may carry a short title at the top. Information in text, citations, references, or footnotes that would identify the author should be masked from the manuscript file. These may be reinserted in the final draft. In addition, the author's name should be removed from the document's Properties, which in Microsoft Word is found in the File menu. When submitting a revised version of a manuscript, please be sure to submit a blind version of your response letter detailing changes made to the manuscript as this is letter can be accessed by reviewers.

File 2. The Main Document (Manuscript)

The text of the paper, including abstract, text, references and notes, tables, figure captions, figures, but without the names of authors, or any acknowledgements. Check that you have removed all author identification (names and affiliations) and any acknowledgements from the main document that you are going to submit. Please make sure that authors' names are not included in the document/file properties.

Further considerations
1) All information about all figure captions and all tables (including title, description, footnotes) has been provided
2) Manuscript has been "spellchecked" and "grammar-checked"
3) References are in the correct format for this journal
4) All references mentioned in the Reference list are cited in the text, and vice versa


6. After Acceptance

6.1. Proofs

One set of page proofs (as PDF files) will be sent by e-mail to the corresponding author (if we do not have an e-mail address then paper proofs will be sent by post) or, a link will be provided in the e-mail so that authors can download the files themselves. The author(s) may list the corrections (including replies to the Query Form) and return them to the Publisher in an e-mail. Please list your corrections quoting line number. If, for any reason, this is not possible, then mark the corrections and any other comments (including replies to the Query Form) on a printout of your proof and return by fax, or scan the pages and e-mail, or by post. Please use this proof only for checking the typesetting, editing, completeness and correctness of the text, tables and figures. Significant changes to the article as accepted for publication will only be considered at this stage with permission from the Editor. We will do everything possible to get your article published quickly and accurately. Therefore, it is important to ensure that all of your corrections are sent back to us in one communication: please check carefully before replying, as inclusion of any subsequent corrections cannot be guaranteed. Proofreading is solely your responsibility. Note that the Publisher may proceed with the publication of your article if no response is received .

6.2. Offprints

The corresponding author, at no cost, will be provided with a PDF file of the article via e-mail. For an extra charge, paper offprints can be ordered via the offprint order form which is sent once the article is accepted for publication. The PDF file is a watermarked version of the published article and includes a cover sheet with the journal cover image and a disclaimer outlining the terms and conditions of use.

Offprints Publishing Office:
Korea Distribution Science Association
Address: Hanshin Officetel Suite 1030, 2463-4 Shinheung-dong Sujeong-gu, Seongnam-city, Gyeonggi-do, KOREA (461-720)
Tel: (+82 31) 740-7292 Fax: (+82 31) 740-7361

Bank Account Number(Beneficiary) :470-910012-72205
Beneficiary Name: Korea Distribution Science Association
Bank Name: HANA BANK