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Roots of global Terrorism are in ‘failed’ states carved out of multiracial empires after World Wars I and II in name of ‘national self‐determination’. Both sides in the Cold War competed to exploit the process of disintegration with armed and covert interventions. In effect, they were colluding at the expense of the ‘liberated’ peoples. The ‘Vietnam Trauma’ prevented effective action against the resulting terrorist buildup and blowback until 9/11. As those vultures come home to roost, the war broadens to en vision overdue but coercive reforms to the postwar system of nation states, first in the Middle East. Mirages of Vietnam blur the vision; can the sole Superpower finish the job before fiscal and/or imperial overstretch implode it?

The purpose of this paper is to examine how state ownership influences value of cash in an institutional environment supporting soft-budget constraint.

This study employs an interaction between state ownership and excess cash to examine how state ownership affects value of cash holdings based on Fama and French’s (1998) valuation model.

With a research data of 3,294 observations from 548 firms over the period 2009–2016, the authors find that state ownership is positively related to market value of cash. Moreover, this relationship is weaker in financially constrained firms.

Although prior studies document a consistently negative effect of state ownership on market value of cash holdings, the authors argue that this effect may still be opposite. When managers of high state ownership firms rely on soft-budget constraint and save less cash, outside investors with this information disadvantage may focus more on precautionary motive and transaction motive than agency costs of cash holdings. As a result, value of cash holdings in high state ownership firms is higher. This paper contributes to the literature on corporate liquidity policy in emerging markets with new evidence on the role of state ownership in market value of cash holdings.

This paper aims to design a model of succession planning process for public and academic libraries in Vietnam.

The model of library succession planning process was develop based on the findings of a two-phase research underpinned by transformational leadership theory. Data were collected from 172 responses of the online survey and 23 in-depth interviews in 13 public and 4 academic libraries in the Mekong region, Vietnam.

A library succession planning process with six steps was established.

As the research takes place in both public and academic libraries, the overarching benefit of the present study is to provide library leaders in these sectors with practical understanding and knowledge about how succession planning process can be done, as well as to enhance management practices in Vietnam libraries and other organisations. Leaders from other types of library systems in Vietnam and globally can reference this model so as to know what to do and how to conduct this process confidently.

This study helps to fill the gap that succession planning in Vietnamese libraries has been done without a specific path. Library leaders in each organisation conducted it differently between public and academic libraries because the government has only issued general guides for all industries of the nation.