Journal of International Economics and Management
Tạp chí của Trường Đại học Ngoại thương
From attitudes to green vehicle usage intention: the role of felt obligation
Purpose Due to escalating environmental pollution in Vietnam, green vehicles are rapidly gaining attraction as a green vehicle solution. Applying the theory of planned behavior (TPB), this study aims to explore the role of felt obligation in linking consumer attitudes to green vehicle usage intention. Design/methodology/approach Data from 408 participants of quantitative research were collected and analyzed with SPSS 26.0 and AMOS 26.0. Findings Findings reveal that although a positive attitude towards eco-social benefits is associated with green vehicle usage intention, attitude towards environmental issues (AEI) does not directly influence green vehicle usage intention. Practical implications These results offer strategic insights for promoting green vehicle and suggest directions for future research. Originality/value This study confirms the application of TPB in predicting green vehicle usage intention from different dimensions of attitudes. Importantly, felt obligation is found to be a full mediator between AEI and green vehicle usage intention as well as a moderator in the relationship between attitude towards eco-social benefits and green vehicle usage intentions.
The impact of institutional quality on firms cash holdings: evidence from an emerging market
Purpose This study investigates how institutional quality (IQ) affects corporate cash holdings (CHs) in Vietnam – an emerging market where institutional frameworks are evolving and increasingly gaining policy attention. It further examines economic uncertainty as a mediating channel in this relationship. Design/methodology/approach This study utilizes a panel dataset comprising 15,461 firm-year observations from 1,558 publicly listed firms in Vietnam over the period 2008–2022. We employ the fixed effects (FE) regression models to estimate the impact of IQ on corporate CHs. The analysis is further extended to explore the role of economic uncertainty in this relationship. Findings The results indicate that higher IQ significantly reduces corporate CHs, primarily by lowering firms’ precautionary demand for cash. In addition, the study finds an inverse relationship between IQ and economic uncertainty, alongside a positive relationship between economic uncertainty and corporate CHs. These findings suggest that part of the effect of IQ on CHs operates through its ability to reduce economic uncertainty, thereby diminishing the need for precautionary cash reserves. Originality/value This study highlights the influence of IQ on one of the most critical corporate decisions – CH – in the context of an emerging economy undergoing active institutional reform. By doing so, it underscores the pivotal role of IQ not only in shaping firms’ financial behavior but also in promoting economic stability, enhancing resource allocation efficiency and supporting the development of a more robust financial system.
The impact of macroeconomic factors on the creative economy: a comparative analysis of European countries and Asian countries
Purpose This study investigates the impact of key macroeconomic indicators – innovation, GDP per capita, trade openness, R&D expenditure, IP law and labor force education – on the development of the creative exports in Asian and European countries from 2010 to 2022 and compares how these factors influence each region differently. Design/methodology/approach Using fixed effects model (FEM) and two-step difference generalized method of moments applied to 650 observations across selected Asian and European countries; the study evaluates the relationship between macroeconomic indicators and creative exports. Findings GDP per capita consistently drives creative exports in both regions, while labor skills and trade openness matter mainly in Europe. R&D shows no robust effect in either regions, and intellectual property protection is significant only in Asia. Originality/value The research offers comparative insights into the macroeconomic dynamics shaping creative industries in different regions, contributing to academic understanding and providing targeted policy recommendations for sustainable development in the creative economy.
What drives firms towards digital transformation adoption: evidence from Vietnam
Purpose This study aims to identify factors affecting firms' adoption of digital transformation by examining firm- and macro-level factors. Design/methodology/approach A logistic regression model was employed to examine a sample of 618 listed firms on Vietnamese stock exchanges from 2012 to 2021. Findings The research results reveal that firm performance, size and age have significant positive impacts on digital transformation adoption (DTA), indicating that well-resourced and experienced firms are more inclined to embrace digital initiatives. In contrast, financial leverage and liquidity are significantly negatively related to DTA, suggesting that financial constraints or conservative financial strategies act as barriers. Both macroeconomic variables – GDP and inflation – exert a significant negative influence, highlighting the limits of economic growth in the absence of institutional support. Research limitations/implications The research suggests that firms should leverage strong performance and organisational maturity to drive digital investment, while recognising that liquidity alone does not ensure readiness without leadership and strategic focus. For policymakers, the results stress that fostering digital transformation requires more than GDP growth – it demands supportive institutions, incentives and national strategies. Originality/value This study offers an empirical analysis of digital transformation in Vietnam, an under-researched emerging economy. By combining firm-level financials and macroeconomic factors within a multi-theory framework, it reveals the novel finding that liquidity negatively relates to digital adoption – contradicting conventional wisdom. The research highlights how institutional voids and uncertainty hinder transformation, providing a localised yet generalisable model for other emerging markets.
Bank-based financial development and investment nexus in Africa: evidence from quantile regression
Purpose This study examines the nexus between financial development and domestic investment in Sub-Saharan Africa (SSA), considering existing levels of domestic investment. Design/methodology/approach The study used a representative sample of 36 SSA economies from 2000 to 2023 and applied the fixed effects (FE) regression, the system generalised method of moments (GMM) and the quantile regression (QR). Findings The results show across all estimators that domestic credit, bank credit, private credit, deposit money bank (DMB) assets, liquid liabilities and financial system deposits (FSDs) significantly influence domestic investment in the region. Importantly, the financial development–investment relationship depends on existing domestic investment levels. Bank credit reduces investment in high-investment countries, while domestic credit, bank branches and bank assets promote investment at both low and high levels. Private credit, liquid liabilities and FSDs boost investment only in high-investment countries. Practical implications The findings imply that policies to boost domestic investment in SSA must be tailored to country-specific investment levels and the particular dimensions of financial development. Additionally, governments and policymakers in the region should diversify financing sources, such as equity and long-term investment funds, while strengthening both physical and digital financial infrastructure. This targeted approach will improve access to finance, enhance savings mobilisation and foster sustainable capital formation and economic transformation. Originality/value The study makes a significant contribution to the literature by incorporating existing levels of domestic investment in SSA—a factor that previous studies have largely overlooked.
Management of fisheries public services in the coastal regions and islands of Vietnam
Purpose This study aims to analyze the evaluation criteria of fisheries public services management in the coastal regions and islands of Vietnam. Design/methodology/approach The Cronbach's Alpha test, exploratory factor analysis, paired samples t-Test and importance performance analysis (IPA) model are employed to analyze the data collected from a survey of 319 cadres and civil servants. Findings The research results show that the indicators of the evaluation criteria are scattered in four quadrants of the IPA model. The results show a significant gap between policy formulation and its implementation regarding public service management for fisheries in Vietnam's coastal and island areas. More importantly, the effectiveness and efficiency are considered to be low. Originality/value The highlight of this study was to shift the approach by using the IPA model to clearly identify the gap between the importance that respondents expected and the level of implementation by state regulators. The results provided practical insights for managers of state management agencies to understand the current state of fisheries public services management in recent years. Additionally, the matrix IPA results provided a foundation for future managerial actions to enhance fisheries public services management.
The mediating role of value co-creation between service innovation and Gen Z repurchase intention: evidence from a developing country
Purpose Generation Z has emerged as a pivotal consumer segment with substantial purchasing power and increasing market influence, projected to become the largest consumer group in the near future. The impact of service innovation on Generation Z customers’ repurchase intention is examined in the study, with value co-creation as a mediating factor. Design/methodology/approach Data were collected through an official questionnaire, yielding 1,393 valid responses from Generation Z participants in Vietnam with diverse locations, gender and educational backgrounds. The analysis was conducted using partial least squares structural equation modeling (PLS-SEM) SmartPLS 4 software. Findings The results confirm that value co-creation mediates the relationship between service innovation and repurchase intention, highlighting its critical role in enhancing the effect of service innovation on Generation Z consumer loyalty. Originality/value This study addresses a gap in the literature by exploring how service innovation can be leveraged to foster repurchase intention among Generation Z consumers. It provides theoretical and practical insights into promoting loyalty through supportive service innovation and value co-creation in the context of an emerging economy.
Green human resource management and environmental strategies: the role of corporate environmental ethics Open Access
Purpose This study aims to investigate the unique mediating role of corporate environmental ethics in the positive relationship between green human resource management practices and the implementation of environmental strategies (reactive environmental strategy and proactive environmental strategy) of manufacturing firms in Vietnam. Design/methodology/approach A cross-sectional survey of 347 manufacturing firms in Vietnam was conducted, and data were analyzed using partial least squares structural equation modeling (PLS-SEM). Findings The findings reveal that firms employing green human resource management tend to prioritize proactive environmental strategy over reactive environmental ones, although green human resource management practices lead to the implementation of both reactive and proactive environmental strategies. Conversely, firms that utilize green human resource management to foster corporate environmental ethics prefer the reactive environmental strategy. Practical implications This study provides critical insights for manufacturing firms aiming to integrate environmentally sustainable practices into their operations. By strategically incorporating green human resource management and corporate environmental ethics, firms can effectively implement feasible and beneficial environmental initiatives that advance their sustainability objectives. Originality/value Drawing on the resource-based view, ability-motivation-opportunity theory and ethics theory of organizing, this study contributes to the existing literature on green human resource management and environmental strategies by examining the role of corporate environmental ethics. This enhances the understanding of how the intensity of different environmental strategies may differ if green human resource management practices or corporate environmental ethics are cultivated.
Imported inflation vis-à-vis domestic inflation in a multicurrency system in Zimbabwe
Purpose This paper examines the impact of imported inflation in a multicurrency economy, focusing on Zimbabwe from February 2009 to February 2019. Design/methodology/approach The study employs the autoregressive distributed lag modelling approach and is structured into two distinct phases. These phases occur before and after the implementation of the bond notes, which served as Zimbabwe’s fiat currency. Findings The results demonstrate a significant impact of external variables on Zimbabwe’s inflation. Specifically, South African inflation and international oil prices were key positive drivers of domestic inflationary pressures. The positive relationship with South African inflation highlights the spillover effects from a major trading partner. Similarly, Zimbabwe’s reliance on imported fuel makes it highly susceptible to global oil price fluctuations, which significantly contribute to local inflation. While import prices generally showed a positive association with domestic inflation, some individual effects were not statistically significant. Originality/value This study enhances the understanding of imported inflation dynamics in multicurrency economies by highlighting both the long-term and short-term effects of foreign inflation and commodity prices on domestic inflation. It also provides valuable insights for policymakers, emphasising the importance of regional inflation linkages and the limitations of multicurrency systems in shielding economies from external price shocks.
The impact of privatization on gender composition: evidence from Vietnam
Purpose This study examines the impact of privatization on the gender composition of firms, an aspect that has received limited attention in the existing literature despite a substantial body of work on labor outcomes of privatization. Design/methodology/approach Using a nationally representative panel of Vietnamese firms from 2006 to 2015, the study employs a staggered difference-in-differences (DID) estimation strategy to identify the causal effects of privatization on female employment share. Findings The results show that privatization led to an average decrease of 1.3 percentage points in the share of female employment in initially female-dominated firms. By role, female production workers experienced an average decline of about 11.5%, while the reduction among female non-production workers was substantially larger at 19.3%. Originality/value By incorporating pre-existing gender structures within firms, this study offers a practical approach to uncover the heterogeneous effects of privatization on gender composition. The findings emphasize the need for gender-sensitive policy interventions, such as reskilling programs or transitional support, to mitigate the adverse effects of privatization on female employment, particularly in peripheral roles that are more vulnerable to labor restructuring.
Financial intermediation and profitability of commercial banks in Vietnam: does bank size matter?
Purpose This study examines the implications of bank size for the impact of financial intermediation function on the profitability of commercial banks in Vietnam. Design/methodology/approach We utilized a balanced panel dataset comprising 25 Vietnamese commercial banks from 2009 to 2022. The system-GMM method is used to explore relationships through these data. Findings The estimation results show that the interaction between customer deposits and loans has a positive impact on bank profitability. This means that commercial banks can increase their profitability if they harmoniously perform financial intermediation functions. We also found that bank size plays a moderating role in the impact of the loan-to-asset ratio and deposit-to-asset ratio on profitability. Originality/value Findings show that commercial banks need to focus on managing their scale in accordance with the two core activities of a banking intermediary, including mobilizing deposits and granting credit to customers. Not only that, these two activities need to be closely coordinated with each other. The study has provided reliable evidence on the moderating role of bank size on the relationship between financial intermediation and bank profitability in emerging markets. Our findings are relevant to the context of the continuous changes in size and financial intermediation process of Vietnamese banks after the 2008 global financial crisis. Hence, it may have practical implications for policymakers.
Stock market reactions to merger announcements: COVID-19-induced transactions
Purpose The central aim of this study was to analyse stock market reactions to merger announcements in South Africa. Design/methodology/approach The study identified thirteen mergers and acquisitions (n = 13) that took place following the COVID-19 pandemic. An event study approach was utilized for data analysis, given its relevance to the study. The event window was made up of 20 business days (−10 t +10). Findings Overall, the cumulative average abnormal returns remained positive throughout the event window, suggesting that, at an aggregate level, the markets reacted positively to merger decisions, particularly regarding mergers that received clearance from South African competition authorities. Notably, on the event day (t+0), cumulative average abnormal returns peaked at 2%, which indicates that the markets were highly efficient in absorbing information about merger decisions. Practical implications These observations support the semi-strong form of the efficient market hypothesis, suggesting that stock prices rapidly reflect publicly available information, including announcements related to mergers and acquisitions. Originality/value Firstly, research on this topic remains limited in South Africa, and the few existing studies have produced ambiguous results. Secondly, earlier research primarily focused on the period prior to the COVID-19 pandemic, before and after the 2008 financial crisis. In contrast, this proposed study concentrates on transactions induced by the COVID-19 pandemic, investigating whether such transactions have positively influenced the stock returns of either the acquiring and/or target firm’s shareholders. Exploring this new context helps enrich the understanding of market efficiency and investor reactions to M&A news in emerging economies.
Impact of exchange rate volatility on green export margins of Vietnam: a gravity approach
Purpose This study assesses the relationship between real exchange rate volatility and trade margins of Vietnam’s green product exports. Design/methodology/approach Based on the environmentally friendly products listed by the Organization for Economic Co-operation and Development, World Trade Organization and Asia-Pacific Economic Cooperation, this study constructs a green product list comprising 485 goods classified at the six-digit level of the HS2002 system. The Poisson Pseudo-Maximum Likelihood (PPML) estimators are applied to a gravity model covering Vietnam’s green exports to 170 partners from 2002 to 2022. Findings This study discovers that fluctuations in exchange rates between the Vietnamese Dong and currencies of partners have a detrimental influence on Vietnam’s green export flows and its market share in total world exports of green products to those importers. Particularly, this negative impact can be attributed to a decrease in both extensive and intensive margins of exports. Therefore, the policies aiming at stabilizing the exchange rates are necessary to boost Vietnam’s green exports, ultimately contributing to ensuring Vietnam’s sustainable growth. Originality/value This study posits the necessity for continued scholarly inquiry into mechanisms for enhancing Vietnam’s green export performance, specifically through interventions designed to mitigate exchange rate volatility.
The impact of migration on multidimensional poverty in rural Vietnam: the moderating role of social assistance
Purpose This article examines how migration influences multidimensional poverty in Vietnam and how social assistance moderates this relationship, aiming to contribute to the limited research on the impact of migration on multidimensional poverty and the regulatory role of social assistance in this context. Design/methodology/approach This study employs a Probit model for binary variables to analyze panel data from 2,800 rural households in Vietnam. The data were retrieved from the Vietnam Household Living Standards Survey (VHLSS) from 2016 to 2018. Findings The findings indicate that the presence of migrants in a household decreases the likelihood of the household experiencing multidimensional poverty, with migration playing a role in raising household incomes and alleviating deficiencies in education, living conditions and access to information. Furthermore, the analysis reveals that when migration is accompanied by social assistance, the probability of households falling into multidimensional poverty decreases significantly, particularly in health, housing, living conditions and income. Originality/value The study contributes to the literature by providing empirical evidence on the multidimensional poverty-reducing effects of migration and the regulatory role of social assistance in enhancing these effects. The findings offer practical implications for policymakers in designing targeted interventions and strengthening social assistance programs to optimize the poverty-alleviating potential of migration in Vietnam.
How do high-involvement human resource practices and idiosyncratic deals affect employee attitudes? An examination of the moderating effects of individualistic values
Purpose High-involvement human resource practices (HIHRP) and i-deals are effective independently; however, in most cases, organizations implement them in combination. Using optimal distinctiveness theory, this study examines how employees respond to the joint implementation of HIHRP and i-deals. Design/methodology/approach The regression analyses were conducted to examine data gathered from a sample of 397 full-time employees across Eastern Asian countries, specifically Japan, Indonesia, Singapore, Thailand and Vietnam, through an online survey. Findings The results reveal that when individualistic values are strong, greater implementation of HIHRP strengthens the positive relationship between i-deals and affective commitment. Conversely, when collectivist values are strong, greater HIHRP implementation strengthens the negative relationship between i-deals and affective commitment. These findings suggest that combined human resources practices may send mixed signals depending on employees’ value orientations. Practical implications Managers should consider employees’ cultural values when combining HIHRP and i-deals, particularly in collectivist contexts. Originality/value This study offers two key theoretical insights. First, although i-deals are generally expected to be beneficial, their interaction with other human resources practices may lead to negative employee reactions. This result highlights the need for horizontal alignment within human resources systems. Second, the impact of i-deals and commitment-oriented HR practices varies by employees’ cultural values, particularly individualism. This notion highlights the importance of considering both individual and country-level cultural factors in similar future research.
Forty-five years of research on entrepreneurship education: a review and bibliometric analysis from the Scopus dataset
In recent years, there has been a significant number of publications related to entrepreneurship education (EE) to the extent that a systematic review of EE trends, changes, and development is needed. Based on the bibliometric analysis, this paper investigates 1782 EE-related documents published between 1977 and 2022 from the Scopus database to assess the growth trajectory of publications, most cited papers, key authors, most prolific countries, and institutions. The results show an explosive growth in the academic literature on EE in the last decade. In addition, the bibliographic coupling of documents and co-occurrence of authors’ keywords analyses reveal three primary schools of thought in EE research, including EE in higher education, EE and entrepreneurial intention, and motivation of EE. This paper contributes to the existing literature by providing a comprehensive picture of EE. More importantly, this study calls for more research on the relationship between EE and big data, EE and self-efficacy, and EE and deep learning.
Measurement of hard-life experiences through the psychological sense: the SEM approach
This paper aims to develop a scale for hard-life experiences through a psychological sense. Past hardships can impact individuals' cognition, stress levels, and resilience. Learning about hard-life experiences is one aspect of longitudinal studies on the historical life of key leaders, focusing on the traumatic feelings from childhood to adulthood. The sample consists of answers from 149 key leaders who are business owners, managers, and entrepreneurs in Vietnam. The structural equation modeling was applied to investigate the validity and reliability of hard-life experience measurement scales with two coherent constructs. This study discovers two sub-scales chronic and acute hard-life experiences to measure key leaders’ hardship during their lifetime, equivalent for the period of childhood up to adolescence, and the adult period of individual key leaders essentially. This study makes a significant contribution by introducing a new benchmark to the existing literature on the experiences of business owners, crucial managers, and entrepreneurs. Scholars can use this scale to investigate relationships between hard-life experience factors and others by quantitative methods.
Factors affecting incomes of ethnic minority households: a case study in Khanh Vinh district, Khanh Hoa province
This study aims to determine the factors affecting the incomes of poor ethnic minority households (EMHs) in Khanh Vinh district, Khanh Hoa province by applying an econometric model to analyze surveyed data from 150 samples. The research results found that the influential factors include ethnic characteristics, household size, number of livelihood activities, leisure time during the year, and time to access productive land. The results of this study provide more empirical evidence on the factors affecting the income of EMHs in Vietnam in general and in Khanh Hoa province in particular. By analyzing these factors in Khanh Vinh district, Khanh Hoa province, the study enriches the literature on poverty and livelihoods of the EMHs community. It provides valuable information for policymakers and practitioners in designing effective programs to improve household incomes and develop sustainable livelihoods for EMHs in this area.
Factors influencing the participation of Vietnamese enterprises in global value chains: insights from automobile production and assembly, electronics, and textile industries
This study aims to examine the factors influencing the global value chain position of enterprises from Vietnam’s leading industry sectors. The panel data analysis was conducted based on 208 observations from 52 automobile production and assembly, electronics, and textile enterprises from 2016 to 2020. The multiple linear regression model was utilized to analyze the factors influencing the participation of such industry sectors in the global value chain. The results indicate that technological capability has the most significant positive influence on the participation of Vietnamese enterprises in the global value chain, followed by FDI and business size. In contrast, business age does not have a discernible effect. These findings bring some policy implications for improving the country’s position in the global value chain, focusing on the automotive, electronics, and textile industries.
Performance of domestic investment in Tanzania: an empirical analysis over the 1980-2020 period
Although domestic investment is a key component of economic growth, its growth has been insignificant in recent years. This study employs an error correction model to analyze the factors affecting domestic investment in Tanzania using time-series data recorded in the 1980-2020 period. These factors include money supply, interest rate, savings rate, and government expenditure. The regression results show that the effect of government expenditure on economic growth is insignificant while money supply, interest rate, and savings rate have a significant impact on economic growth. These findings imply that policies regulating interest rates, savings rates, and money supply are necessary to accelerate financial intermediation and mobilize domestic savings, thereby improving domestic investment. Furthermore, this study recommends encouraging investment incentives and establishing vibrant investment promotion agencies.
Factors influencing the decision to outsource logistics services of small- and medium-sized enterprises in Vietnam
This study examines the factors influencing the decision to outsource logistics services of small- and medium-sized enterprises (SMEs). The Cronbach’s Alpha test, exploratory factor analysis, confirmatory factor analysis, and structural equation modeling were employed to analyze data collected from 204 Vietnamese SMEs in the export of agricultural products, seafood, and textile industries. The results show that the motivation to reduce costs and the characteristics of service providers have the most significant impact on these enterprises’ decisions to outsource logistics services. Moreover, outsourcing strategy also affects logistics outsourcing decisions. Based on the results, this study provides recommendations for logistics service providers to attract customers and advise SMEs on the decision-making process to outsource or operate logistics activities themselves.
The impact of personality traits on positivity at work and job performance of officers - An empirical investigation at the district-level administrative agencies in Hanoi
This study investigates the influence of personality traits on positivity at work and officer performance at the district-level administrative agencies in Hanoi. Based on the information obtained from 420 officers, the structural equation modeling was adopted to assess the impact of the Big Five model of personality on positivity at work and job performance. The results show a positive relationship between personality traits, positivity at work, and job performance. At the same time, positivity at work positively impacts officers’ job performance. These findings suggest recommendations for district-level administrative agencies to enhance positivity at work and improve officers’ performance. This paper provides empirical evidence of the feasible application of the Big Five model of personality and serves as a reference for further research on organizational behavior in both public and private organizations.
Corporate social responsibility and financial performance in the banking industry: a comparative study of Australia and Vietnam
While investigating the financial implications of corporate social responsibility (CSR) is important for all kinds of enterprises, such an examination is crucial for firms operating in the banking industry given their essential role in boosting economic development in any nation. Therefore, this study aims to examine the relationship between CSR and financial performance in a sample of banks in Australia and Vietnam. Content analysis was employed to evaluate CSR information and multivariate regressions were used to assess the financial effects of CSR practices. The research findings show a significantly positive association between CSR and financial performance. Moreover, this positive relationship is more pronounced among Vietnamese banks than among their Australian counterparts. Our empirical evidence remains unchanged in a battery of robustness tests. Consequently, these findings have practical implications for commercial bank managers, policymakers, and investors.
Factors affecting the level of customer deposit: the case of commercial banks in Vietnam
This study aims to evaluate the factors affecting the level of customer deposits in Vietnamese commercial banks. The research sample includes 25 banks from 2009 to 2021. The secondary data were collected from the audited financial statements of banks and the statistical information of the Hanoi and Ho Chi Minh Stock Exchanges. The regression results show that bank profitability, loan quality, listing status, and state-controlled ownership have a positive effect on the level of customer deposits, while bank liquidity, average interest rate, and global financial crisis negatively affect the level of customer deposits. According to these results, commercial banks should focus on developing benefits for depositors and strategies to build customer trust and confidence to increase the level of customer deposits. The findings also imply the positive role of deposit insurance and the State Bank, together with the government, in mobilizing deposits from customers. Our study provides reliable empirical evidence of the impact of state controlled ownership, stock listing, and global financial crisis on the level of customer deposits. Bank managers and other stakeholders attract deposits from customers, and the findings add to the evidence for developing related theories.
State ownership and corporate investment: evidence from Vietnamese stock market
The literature shows that the relationship between state ownership and corporate investment is debatable. This study examines this relationship in Vietnam as a transitional economy. Our sample consists of 4,680 observations from 2009 to 2020. Using fixed effects and random effects for panel data, random effects Tobit, and pooled OLS, we find that state ownership decreases investment expenditures. Moreover, this negative impact is stronger if the firms are financially unconstrained. Our results indicate that weak corporate governance and soft budget constraints arising from state ownership may fail to determine investment decisions. A government’s negative attitude toward risk and conservatism may effectively affect corporate investment.
Spillover effects of transportation capital and provincial competitiveness on economic growth in Vietnam
This study uses the spatial econometric model to evaluate the impact of transportation capital and provincial competitiveness on economic growth in Vietnam. Data from 63 provinces and cities in Vietnam were collected between 2010 and 2017. It is found that both direct and indirect effects of transportation capital are positive and statistically significant, and that the spillover effect is strong. The findings confirm the high efficiency of synchronous investments in the transport infrastructure. In addition, the study points to the necessity of improving labor quality, which is closely related to the services provided by the provincial government: general education, vocational training, and employment service growth.
An evaluation of financial performance of Vietnam textile and apparel industry using the entropy-TOPSIS method
Vietnam is one of the world’s top five exporters of textiles and apparel. Textile and apparel companies not only account for a large amount of foreign currency revenue to the state budget, but also contribute to job creation. Therefore, it is of great importance to learn about the financial stability of this strategic economic industry and the issues needed to be addressed currently or in the future. This study attempts to evaluate 11 Vietnamese textile and apparel companies based on their financial performance using the entropy-TOPSIS method. Seven financial stability ratio data of these companies within the period 2016-2018 were formulated and used for ranking. The ranking shows the degree of their business’s financial stability and security. Moreover, the findings may provide company-level managers and industry management officials with insight into the industry’s financial stability. Managers can see their financial stability status among others in the industry, while officials can identify companies that need government support for funding or interest rate adjustment.
On the revision of detecting learning-by-exporting: empirical evidence from small- and medium-sized enterprises in Vietnam
This study aims to identify the role of exports in improving the productivity of small- and medium-sized enterprises (SMEs) in Vietnam. By applying the propensity score matching method, we exploit the firm-level panel dataset from the Vietnam SME Survey between 2009 and 2014. This remarkable period occurred two years after Vietnam’s accession to the World Trade Organization. Hence, for the first time, the learning-by-exporting hypothesis was tested for a case study of SMEs in developing countries in the context of international trade integration, such as Vietnam. This paper shows that SMEs in Vietnam could improve their productivity when exporting during the studied period. We also find that exports have a significant impact on the productivity of SMEs in non-municipal areas of Vietnam. Based on these findings, policy recommendations are withdrawn for stimulating the productivity of SMEs in developing countries. In particular, SMEs in non-municipal provinces might need more favorable policies to boost export activities.
Exploring the influence of expectations on community-based tourism choice in Vietnam’s Central Highlands
This study investigates the impact of expectations on decision-making in community-based tourism in the Central Highlands of Vietnam. While numerous studies have explored tourism expectations, limited research has specifically addressed their influence on choosing community-based tourism in a particular region. This study aims to fill this gap in the literature by identifying the expectations that influence tourists’ choices of community-based tourism in the Central Highlands of Vietnam and determining the extent of their impact. By applying quantitative research method to analyze data collected from 528 visitors, the findings indicate that when tourists’ cultural, historical, and climatic expectations are met, their preference for community-based tourism in the Central Highlands increases significantly. This study enriches the literature by clarifying how specific expectations influence community-based tourism choices in the Central Highlands of Vietnam. Additionally, the results contribute to the development of successful policies that promote the growth of community-based tourism in this area. This paper provides new insights into how these expectations shape community-based tourism decisions, offering valuable guidance for policy development, and promoting sustainable tourism practices in the region.
The impact of manager training on employee turnover intentions: the serial mediation roles of employee satisfaction and employee’s perception of management style
The turnover intention of employees has always been one of the most notable issues within any business environment. While several studies in recent decades have investigated the impact of training in general on employee turnover intention, limited attention has been given to management-level training. Therefore, this research aims to examine how management-level training directly impacts employee turnover intentions through the double mediation effects of employee’s perception of management style and employee satisfaction. The quantitative method was applied with a sample of 245 employees working at small- and medium-sized enterprises in Vietnam. This paper finds the crossover influence of manager training on employee turnover intention in various enterprises in a large business community, i.e., Keieijuku, where chief executive officers take a training course for Vietnamese small- and medium-sized enterprises’ managers. Additionally, employees’ perception of management style and employee satisfaction serially mediate the inverse relationship between management training and employee turnover intentions. The findings contribute to the theoretical understanding of factors influencing employee turnover intentions. Moreover, it offers valuable practical recommendations for small- and medium-sized enterprises in terms of training investment and training assessment.