Noel Scott, Brent Moyle, Ana Cláudia Campos, Liubov Skavronskaya and Biqiang Liu
Trung Duc Nguyen, Lanh Kim Trieu and Anh Hoang Le
This paper aims to propose a dynamic stochastic general equilibrium (DSGE) model for the State Bank of Vietnam (SBV) to assess the response from the household sector to monetary…
Abstract
Purpose
This paper aims to propose a dynamic stochastic general equilibrium (DSGE) model for the State Bank of Vietnam (SBV) to assess the response from the household sector to monetary policy shocks through the consumption function. Moreover, the transmission from monetary policy to household consumption and income distribution is experimented with through the vector autoregression (VAR) model.
Design/methodology/approach
In this study, the authors used the maximum likelihood estimation to estimate the DSGE and VAR models with the sample from 1996Q1 to the end of 2021Q4 (104 observations).
Findings
The DSGE model’s results show that the response of the household sector is as expected in the theory: a monetary policy shock occurs that increases the policy interest rate by 0.29%, leading to a decrease in consumer spending of about 0.041%, the shock fades after one year. Estimates from the VAR model give similar results: a monetary policy shock narrows income inequality after about 2–3 quarters and this process tends to slow down in the long run.
Research limitations/implications
Based on the research results, the authors propose policy implications for the SBV to achieve the goal of price stability, and stabilizing the macro-economic environment in Vietnam.
Originality/value
The findings of the study have theoretical contributions and empirical scientific evidence showing the effectiveness of the implementation of the SBV’s monetary policy in the context of macro-instability, namely: flexibility, caution and coordination of different measures promptly.
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Le Van Huy, Hien T.T. Nguyen, Phan Hoang Long, Phan Quyen Phu Thi and Nhat Tan Pham
By anchoring on the ability-motivation-opportunity (AMO) framework, this research aims to examine the effect of tourists' green ability, motivation and opportunity to access green…
Abstract
Purpose
By anchoring on the ability-motivation-opportunity (AMO) framework, this research aims to examine the effect of tourists' green ability, motivation and opportunity to access green information on digital media platforms (green AMO) on their intention to stay at green hotels. The study also tests the moderating role of environmental concern and the mediating role of green attitude in this relationship.
Design/methodology/approach
An online survey was conducted on large Facebook groups and by an international tour operator in March 2022. Through convenience sampling, 600 responses were collected from local and international tourists. Partial least squares structural equation modeling was performed to validate the research model.
Findings
The results reveal that tourists' intention to stay at green hotels is positively affected by their green AMO through indirect and direct channels. Specifically, green AMO indirectly effects tourists' intention to stay at green hotels by raising their green attitude. The results also indicate that the direct effect is moderated by environmental concern.
Research limitations/implications
The findings demonstrate the importance of facilitating tourists' access to environmental information on social media platforms, which enhances green attitude and intention to stay at green hotels. This study also proposes practical solutions that managers of green hotels can employ to target green-oriented customers and conduct environmental campaigns on digital platforms.
Originality/value
The research is the first to investigate the effects of tourists' green AMO on their intention to stay at green hotels. It is also the first to explore the roles of environmental concern and green attitude in this relationship.
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Thanh Tiep Le, Bich Nguyen Ngoc, Khanh Tran Ho Phuong, My Luong Hoang, Ngan Phan Kim and Ly Le Thi Cam
This research aims to investigate the relationships between organizational learning (OL), corporate social responsibility (CSR), corporate financial performance (CFP) and…
Abstract
Purpose
This research aims to investigate the relationships between organizational learning (OL), corporate social responsibility (CSR), corporate financial performance (CFP) and sustainable corporate performance (SCP) within the context of food-manufacturing family enterprises in Vietnam. Specifically, the study strengthens the combination of these three factors that collectively contribute to enhancing SCP. Furthermore, the research explores the role of service quality (SQ) and green brand innovativeness (GBI) as strategic levers for achieving a competitive edge in SCP within family enterprises.
Design/methodology/approach
This study was used the quantitative method to evaluate the influence of CSR, OL, CFP, SQ and GBI on the SCP of family enterprises. The study sample comprised 456 responses from top and middle management of organizations and used the smart partial least squares SEM (version 3.3.2) to analyze the data in the year 2024.
Findings
The study provides significant positive relationships between OL, CSR and CFP in contributing to enhancing SCP within family enterprises. Results suggest that firms with strong OL, CSR and CFP collectively could improve SCP. Furthermore, SQ and GBI emerged as integral factors in differentiating family enterprises in terms of SCP. While SQ plays a significant role in building customer loyalty and trust, GBI is crucial for positioning family enterprises as a sustainable one in the market. Thus, this study contributes to the existing academic knowledge by providing insights into how family enterprises can effectively balance economic, social and environmental objectives for long-term sustainability.
Originality/value
While previous studies have explored these factors independently, this study offers a novel perspective by examining their performances correlatively. The outcomes of this study provide valuable guidance for family enterprises’ managers, CEOs and business leaders to make strategic sustainability plans and create competitive edge when it comes to SCP.
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Anh Tuyet Nguyen, Vu Hiep Hoang, Phuong Thao Le, Thi Thanh Huyen Nguyen and Thi Thanh Van Pham
This study addresses the empirical results of the spillover effect with export as the primary economic activity that enhances local businesses' total factor productivity (TFP). A…
Abstract
Purpose
This study addresses the empirical results of the spillover effect with export as the primary economic activity that enhances local businesses' total factor productivity (TFP). A learning mechanism is expected to be generated and used as the basis for the policy implication.
Design/methodology/approach
This study adopted the Cobb–Douglas function and multiple estimation approaches, including the generalized method of moments, the Olley–Pakes and the Levinsohn–Petrin estimation techniques. The findings were estimated based on the panel data of a Vietnamese local businesses survey conducted by the General Statistics Office of Vietnam (GSO) from 2010 to 2019.
Findings
The results showed that the highest TFP belongs to the businesses in the Southeast region, the Mekong Delta region, the mining industry and the foreign-invested enterprises. The lowest impacted TFP are businesses in the Northwest region and agricultural, forestry and fishery sectors. In addition, the estimated results also show that the positive spillover effect on TFP is shown through forward and backward linkage. The negative spillover effect is expressed through the backward and horizontal channels.
Research limitations/implications
This study offers original empirical evidence on the learning mechanisms via which exports contribute to productivity improvement in a developing Asian economy, so making a valuable contribution to the existing academic literature in this domain. The findings of this research make a valuable contribution to the advancement of understanding on the many ways via which spillover effects manifest such as horizontal, forward, backward and supplied-backward linkage.
Practical implications
The study's findings indicate that it is advisable for governments to give priority to the development and improvement of forward and supply chain linkages between exporters and local suppliers. This approach is recommended in order to optimize the advantages derived from export spillovers. At the organizational level, it is imperative for enterprises to strengthen their technological and managerial skills in order to efficiently incorporate knowledge spillovers that originate from overseas partners and trade counterparts.
Originality/value
This study sheds new evidence on the export spillover effect on productivity in emerging economies, with Vietnam as the case study. The paper contributes to the research's originality by adopting novel methodological aspects to estimate local businesses' impact on total factor productivity.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-05-2023-0373
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Le Nguyen Hoang and Le Thanh Tung
This study aims to test the first and second-stage moderating effects of tourists’ past travel experiences on the relationships between national responses, destination trust and…
Abstract
Purpose
This study aims to test the first and second-stage moderating effects of tourists’ past travel experiences on the relationships between national responses, destination trust and tourists’ willingness to pay in the post-pandemic recovery era.
Design/methodology/approach
The proposed model was tested with a sample of 398 tourists in Vietnam. The path analysis was applied to investigate the mediating and moderating effects.
Findings
The findings emphasise the mediating effect of destination trust in the relationships between national responses and tourists’ willingness to pay. With the moderating effect of past travel experience, all the first-stage indirect effects are significant, but the second-stage indirect effects are significant only at a high level of past travel experience.
Originality/value
This study provides theoretical implications for solving the puzzle about the paradox of trust in the government’s responses in the post-pandemic era. Practical implications for destination marketing organisations in the post-pandemic recovery era are then discussed.
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Le Nguyen Hoang and Nguyen Thi Hong Vinh
This study aims to investigate whether stimulating a family business image can serve as a signal to enhance customer brand co-creation.
Abstract
Purpose
This study aims to investigate whether stimulating a family business image can serve as a signal to enhance customer brand co-creation.
Design/methodology/approach
The authors tested the proposed moderated serial mediation model utilising a sample of 521 experienced online customers. Using a scenario-based approach with an experimental design, the authors investigated how the stimulation of a family business image influences customers’ co-creation activities on social media.
Findings
Stimulating a family business image plays a significant role in fostering interactions among customers who respond to this signal. Furthermore, when there is an alignment between customers’ self-concept and their perception of brand authenticity, a stronger brand contribution is established. Nonetheless, this alignment does not translate into heightened involvement in brand co-creation activities, as active participation in co-creation necessitates empowerment derived from the co-creation process.
Originality/value
By taking a co-creation viewpoint, this study empirically demonstrates how stimulating a family business image can impact different levels of brand-related involvement. It also highlights the moderating influence of self-congruence in transmitting the signal, shedding light on individual differences in brand engagement. From a practical standpoint, the distinctive nature of a family business image should be recognised as an asset that enables managers to enhance customer responses and strengthen their market position.
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Phong Ba Le, Le Thai Phong and Khoa Dinh Vu
The purpose of this study is to investigate the influence of transformational leadership (TL) on frugal innovation (FI) of hotel and restaurant firms through the mediating role of…
Abstract
Purpose
The purpose of this study is to investigate the influence of transformational leadership (TL) on frugal innovation (FI) of hotel and restaurant firms through the mediating role of knowledge sharing (KS) and moderating role of information technology utilization (ITU).
Design/methodology/approach
The paper used a quantitative research method and structural equation modeling to test the relationship among the latent factors based on a sample of 315 participants from 113 hotel and restaurant firms.
Findings
Findings show the significant impacts of TL on FI directly or indirectly via the mediating role of tacit and explicit KS behaviors. It highlights the important role of ITU in fostering influence of KS behaviors on FI.
Practical implications
The paper provides managers and directors in the Vietnamese restaurant and hotel industry with valuable insights into the development of leadership programs focusing on TL practices to improve the knowledge resource and FI capabilities of firms.
Originality/value
This study contributes to bridging research gaps in the literature and advances the insights of the key antecedents and appropriate conditions to pursue FI of hotel and restaurant firms.
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The purpose of this study is to explore the role of gold as a hedge against inflation in the case of the United Arab Emirates.
Abstract
Purpose
The purpose of this study is to explore the role of gold as a hedge against inflation in the case of the United Arab Emirates.
Design/methodology/approach
The study utilizes monthly data on the local sharia-compliant spot gold contract traded on the Dubai Gold and Commodity Exchange (DGCX) and the corresponding consumer price index series over the period December 2015 to January 2021. The econometric approach employed by the study involves a unit root testing procedure that allows the timing of significant breaks to be estimated. A cointegration analysis is then conducted using a nonlinear autoregressive distributed lag (NARDL) model, taking into consideration the presence of structural breaks in addition to short- and long-run asymmetries.
Findings
The results reveal that consumer and gold prices are cointegrated, which implies that investing in gold can hedge against inflation in the long run. No sufficient evidence, nonetheless, is found in support of the ability of gold to serve as a hedge against inflation in the short run.
Originality/value
The findings have several important policy implications for policymakers and investors that are further discussed in the study.
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Keywords
Tu Le, Thanh Ngo, Dat T. Nguyen and Thuong T.M. Do
The financial system has witnessed the substantial growth of financial technology (fintech) firms. One of the strategies that banks have adopted to cope with this emergence is to…
Abstract
Purpose
The financial system has witnessed the substantial growth of financial technology (fintech) firms. One of the strategies that banks have adopted to cope with this emergence is to cooperate with fintech firms. This study empirically investigated whether cooperation between banks and fintech companies would improve banks’ risk-adjusted returns.
Design/methodology/approach
We developed a novel index of bank–fintech cooperation across various fintech sectors. A system generalized method of moments (GMM) was used to examine this relationship using a sample of Vietnamese banks from 2007 to 2019.
Findings
The findings show that the diversity of bank–fintech cooperation across seven sectors tends to enhance banks’ risk-adjusted returns. The results also highlight that this relationship may depend on the types of fintech sectors and bank ownership. More specifically, the positive association between this cooperation and banks’ risk-adjusted returns only holds in the comparison sector of fintech, whereas there is a negative relationship between them in the payments and mobile wallets sector. Furthermore, state-owned commercial banks that engage in more bank–fintech cooperation tend to generate greater earnings. If we look at listed banks, the positive effect of bank–fintech partnerships on risk-adjusted returns still holds. A similar result was also found in the case of large banks.
Practical implications
Our empirical evidence provides motivations for incumbent banks to implement appropriate strategies toward diversity in bank–fintech partnerships when fintech firms have engaged in various financial segments.
Originality/value
This study adds more evidence to the existing literature on the relationship between bank–fintech cooperation and bank performance.