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1 – 10 of 47Trang Nguyen, Taha Chaiechi, Lynne Eagle and David Low
Growth enterprise market (GEM) in Hong Kong is acknowledged as one of the world’s most successful examples of small and medium enterprise (SME) stock market. The purpose of this…
Abstract
Purpose
Growth enterprise market (GEM) in Hong Kong is acknowledged as one of the world’s most successful examples of small and medium enterprise (SME) stock market. The purpose of this paper is to examine the evolving efficiency and dual long memory in the GEM. This paper also explores the joint impacts of thin trading, structural breaks and inflation on the dual long memory.
Design/methodology/approach
State-space GARCH-M model, Kalman filter estimation, factor-adjustment techniques and fractionally integrated models: ARFIMA–FIGARCH, ARFIMA–FIAPARCH and ARFIMA–HYGARCH are adopted for the empirical analysis.
Findings
The results indicate that the GEM is still weak-form inefficient but shows a tendency towards efficiency over time except during the global financial crisis. There also exists a stationary long-memory property in the market return and volatility; however, these long-memory properties weaken in magnitude and/or statistical significance when the joint impacts of the three aforementioned factors were taken into account.
Research limitations/implications
A forecasts of the hedging model that capture dual long memory could provide investors further insights into risk management of investments in the GEM.
Practical implications
The findings of this study are relevant to market authorities in improving the GEM market efficiency and investors in modelling hedging strategies for the GEM.
Originality/value
This study is the first to investigate the evolving efficiency and dual long memory in an SME stock market, and the joint impacts of thin trading, structural breaks and inflation on the dual long memory.
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Trang Thi Ngoc Nguyen and Phuong Kim Bui
The purpose of this paper is to examine the relationship between dividend policy and earnings quality of Vietnamese listed firms.
Abstract
Purpose
The purpose of this paper is to examine the relationship between dividend policy and earnings quality of Vietnamese listed firms.
Design/methodology/approach
The sample includes firms listed on Vietnam stock exchange during the period between 2010 and 2016. Two measures of earnings quality are the annual firm-specific absolute value of residuals from Dechow and Dichev’s (2002) model and from Dechow and Dichev (2002) as modified by McNichols’s (2002) model. The firms’ dividend policy is captured by dividend paying status. This is a dummy variable that takes the value of 1 if the firm pays dividends and 0 otherwise. In addition, dividend yield and dividend payout ratio, which are continuous variables, are also used in this paper as alternative proxies for dividend policy.
Findings
Using panel data analysis, this paper documents that dividend payers have higher earnings quality than dividend non-payers. Dividends are an indicator of earnings quality. These findings are consistent with prior studies. After controlling for variables that may be related to earnings quality as well as for the year and industry fixed effects, this relation remains unchanged. In addition, this result is also robust after controlling for firm fixed effects.
Originality/value
This paper offers the empirical evidence on the relation between dividend policy and earnings quality in Vietnam, which is a frontier market.
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Toan Thi Phuoc Dang and Vinh Thi Thanh Do
This study offers an empirical framework for how hotel employees CSR perceptions affect their job satisfaction by incorporating the parallel mediating roles of organizational…
Abstract
Purpose
This study offers an empirical framework for how hotel employees CSR perceptions affect their job satisfaction by incorporating the parallel mediating roles of organizational identification and psychological contract fulfillment. In addition, it examines the moderator effects of employees' CSR-induced attributions on the constructed mediated model, providing a powerful lens through which to evaluate when and how employees' CSR perceptions influence organizational identification and psychological contract fulfillment.
Design/methodology/approach
The study use PLS-SEM techniques to analyze a sample of 520 employees from 49 luxury hotels with 4–5 stars in Khanh Hoa province, Vietnam.
Findings
The results show that CSR positively influences job satisfaction through the mediating role of psychological contract fulfillment and organizational identification. Besides, attachment styles also play moderator role in the relationship between CSR and psychological contract fulfillment/organizational identification.
Practical implications
The discoveries elucidated within this research endeavor proffer actionable discernments to be earnestly contemplated by professionals entrenched in the hotel industry, earnestly aspiring to ameliorate the contentment of their workforce and, concomitantly, augment the overarching efficacy of their organizational operations.
Originality/value
This study provides human resource departments with insights and suggestions for maximizing the efficacy of CSR implementation in the hotel industry.
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Nhat Bach Ho, Dut Van Vo and Chris Rowley
The study estimates the willingness to pay for organic oranges and identifies its influencing factors among consumers in the Mekong Delta, Vietnam.
Abstract
Purpose
The study estimates the willingness to pay for organic oranges and identifies its influencing factors among consumers in the Mekong Delta, Vietnam.
Design/methodology/approach
The study used survey data from 413 households in the Mekong Delta from March 2022 to July 2022. The choice experiment (CE) and contingent valuation method (CVM) were employed to analyze consumers’ willingness to pay (WTP). STATA 17 software was used to analyze research data in the logit model and mixed logit model.
Findings
The research results from the CVM approach show that a number of demographic characteristics have a direct impact on WTP, such as education, educational attainment, family size, the presence of children and the elderly in the household, food safety and environmental awareness. The CE model shows product attributes that influence consumers’ WTP, such as country of origin, traceability, quality grade, organic certification, ecolabel and organic content. Both approaches show that price is the main barrier to organic orange consumption.
Research limitations/implications
The study surveyed four large cities in four provinces representing the Mekong Delta region.
Practical implications
Our study helps administrators have a deeper insight into consumer preferences and behavior, specifically the factors that affect consumers' WTP, an important indicator of demand for the success of manufacturers and marketers in developing as well as improving marketing strategies. Knowledge of a product’s WTP on behalf of (potential) customers plays an important role in many areas of marketing management, such as pricing decisions or new product development.
Social implications
Furthermore, this understanding will inform policymakers about the future of agricultural markets in Vietnam and help them better prepare for the making of sustainable agricultural policies. Develop organic agriculture to both protect human health, protect the living environment and protect the soil from degradation, ensuring sustainable agricultural production. This is also one of the measures to help people stay away from diseases to limit the social burden.
Originality/value
The study confirms that both CVM and CE models can be used to estimate WTP. However, CVM fits the overall WTP estimate, while CE is more appropriate when estimating WTP for individual scenarios through combining attributes with different levels.
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Cuong Thanh Nguyen, Phan Thanh Hai and Huyen Khanh Nguyen
This paper aims to explore the influence of the COVID-19 outbreak and the Government's disease control measures on the stock returns and liquidity of Vietnam-listed companies in…
Abstract
Purpose
This paper aims to explore the influence of the COVID-19 outbreak and the Government's disease control measures on the stock returns and liquidity of Vietnam-listed companies in the financial services sector.
Design/methodology/approach
The authors have conducted a panel data regression analysis using data from 50 banking, insurance and finance companies listed in Vietnam's two biggest stock exchanges (HNX and HOSE) within the period from January 30th, 2020 to May 15th, 2021.
Findings
The regression results indicate that the daily growth in the total number of confirmed cases caused by COVID-19 has significant negative effects on the stock market returns and liquidity. Nevertheless, the Government's imposition of lockdown yields significant and positive outcomes on stock performance. In addition, the study reveals remarkable differences in returns of large-cap and small-cap stocks under the impact of the COVID-19 pandemic.
Research limitations/implications
The study indicates government and regulators should act more actively to limit the outbreak of the virus, improve investor confidence as well to support the financial services industry and deal with the outbreak of the pandemic later.
Originality/value
This is the first study to explore the influence of the COVID-19 outbreak and the Government's disease control measures on the stock returns and liquidity of Vietnam-listed companies in the financial services industry.
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Ho Huy Tuu and Nguyen Huu Khoi
This study explores the direct and indirect effects of two components of food-related consideration of future consequences (CFCs), including CFC-Immediate and CFC-Future, on…
Abstract
Purpose
This study explores the direct and indirect effects of two components of food-related consideration of future consequences (CFCs), including CFC-Immediate and CFC-Future, on sustainable food attitudes (SFA) via food-related health and environmental concerns.
Design/methodology/approach
Partial least squares structural equation modeling technique was used on a data set of 664 Vietnamese consumers collected in Central Vietnam to evaluate measurement and structural models.
Findings
CFC-Immediate and CFC-Future as well as health and environmental concerns have positive effects on SFA. Indirect effects of CFC-Immediate on SFA via health concerns and CFC-Future on SFA via health/environmental concerns are also discovered.
Research limitations/implications
Future studies should examine the impact of environmental values on CFCs, forming a more comprehensive understanding regarding the relationship between the two variables, especially by including a wider range of sustainable food types to gain diverse knowledge about sustainable food consumption.
Practical implications
Communicative messages should focus on both health and environmental concerns while emphasizing both immediate and more distant outcomes of sustainable food (fish) consumption for individuals with different dominant temporal orientations.
Originality/value
This study sheds light on the direct and hierarchical relationships among food-related CFCs, health and environmental concerns and SFA to better understand the intricate psychological process of sustainable food consumption.
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Nguyen Dong Phong, Nguyen Huu Khoi and Angelina Nhat-Hanh Le
Mobile shopping is the current trend for firms to conduct business, having great advantages over electronic shopping as well as traditional shopping. The purpose of this paper is…
Abstract
Purpose
Mobile shopping is the current trend for firms to conduct business, having great advantages over electronic shopping as well as traditional shopping. The purpose of this paper is to discuss not only the driving forces of mobile shopping behaviors from the theory of reasoned action (TRA) perspective, but also the additional promotion and barrier sides of the mobile business.
Design/methodology/approach
A structural equation modeling approach with latent constructs is applied on a self-administered survey data of 208 Vietnamese consumers to test the hypotheses.
Findings
The results of this study have proved the predictive power of TRA in exploring consumer behavior in the context of mobile shopping. Also, both promotion and barrier variables have significantly strong impacts on the intention to adopt mobile shopping.
Research limitations/implications
Future studies would benefit from investigating other variables (e.g. specific aspects of trust and risk) and using actual behavior (e.g. online purchases).
Practical implications
Business managers should pay attention to both promotion and barrier factors to understand how and why Vietnamese consumers adopt mobile shopping.
Originality/value
This pioneering study adapts the TRA model with extended promotion and barrier variables to explain mobile shopping in the context of Vietnam.
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This paper focuses on dry port as a key notion in port-hinterland development. We first discuss the concept of dry port by reviewing existing literature. Then, we explore the…
Abstract
This paper focuses on dry port as a key notion in port-hinterland development. We first discuss the concept of dry port by reviewing existing literature. Then, we explore the reasons behind the emergence and development of inland node systems in different geographical, economic and institutional contexts. Next, the paper presents a classification of dry ports based on a multitude of factors and dimensions and the respective benefits to different parties. The study then focuses on the specific characteristics of dry ports and associated transport networks in developing countries.
In the last part, we present a case study on the dry port system in Vietnam by reviewing the seaport and inland transport system and analyzing the current status of inland terminals in Vietnam. To conclude, a SWOT analysis is presented with regard to the development of the dry port network in Vietnam, followed by recommendations for policy makers.
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Huy Van Le, Le Chi Cong and Mark A.A.M. Leenders
This research aims to explore the role of awareness of harm and responsibility for environmental protection in reducing pollution from single-use plastic bags (SPBs) in coastal…
Abstract
Purpose
This research aims to explore the role of awareness of harm and responsibility for environmental protection in reducing pollution from single-use plastic bags (SPBs) in coastal communities (CCs). To this end, this study develops and tests a unique model that explains residents’ intention to reduce the use of SPBs in coastal regions.
Design/methodology/approach
A questionnaire was used to collect data from 721 coastal residents in Vietnam. Structural equation modeling and moderation analysis were applied to test the proposed hypotheses.
Findings
The results show that awareness of the impact of SPBs on the environment and human health and awareness of the responsibility to protect the coastal environment significantly affect attitudes and intentions to reduce the use of SPBs. Moreover, such awareness of responsibility strengthens the attitude-intention relationship.
Practical implications
The findings suggest that CCs should not receive a lower priority in campaigns and efforts to reduce SPBs. In this regard, providing residents with free environmentally friendly bags and education programs on the impact of SPBs could be implemented.
Originality/value
CCs are directly impacted by pollution from SPBs. However, little is known about how this affects their polluting behavior. This study shows that CCs are not immune to polluting behaviors and that SPBs can be significant among residents. It also demonstrates that awareness of harm and feeling responsible for the environment are essential drivers of (intended) sustainable behaviors.
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Huu Minh Nguyen, Thi Hong Tran and Thi Thanh Loan Tran
“The world needs science, science needs women” is the message given by UNESCO in the program for the development of women in science” (UNESCO, 2017). In Vietnam, women’s…
Abstract
“The world needs science, science needs women” is the message given by UNESCO in the program for the development of women in science” (UNESCO, 2017). In Vietnam, women’s participation and achievements in scientific research is considered a great and important resource for industrialization and modernization. Even so, are there gender differences in scientific achievement in the social science research institutes in Vietnam? What factors influence the scientific achievement of female social researchers? The answers will be based on data from a 2017 survey with a sample of 756 researchers, of which 77.6% were female. The survey was conducted by the Vietnam Academy of Social Sciences, a leading, ministry-level national center for the social sciences in Vietnam. This chapter analyzed the scientific achievements of researchers through their position as principal investigators of research projects and their publications, and factors that may impact this. Bivariate and multivariate analyses of factors that may affect the scientific achievement of researchers found that gender differences in academic achievement in the social sciences in Vietnam was still prevalent. Female researchers’ scientific achievements were lower than those of their male counterparts. The contribution to science of Vietnamese female researchers was limited by many different factors; the most important were the academic rank of the researchers and gender stereotype that considered housework the responsibility of women.
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