Duc Hong Vo, Loan Thi Hong Van, Hien Thi Thu Hoang and Ngoc Phu Tran
Intellectual capital, corporate governance (CG) and corporate social responsibility (CSR) are generally considered three essential pillars to enhance firms’ performance in the…
Abstract
Purpose
Intellectual capital, corporate governance (CG) and corporate social responsibility (CSR) are generally considered three essential pillars to enhance firms’ performance in the developed world. However, in developing countries such as Vietnam, these pillars have not received sufficient attention from practitioners. In addition, this study aims to investigate the interrelationship between these three essential pillars and their combined effects, in the Vietnamese context.
Design/methodology/approach
This study uses data collected from the annual reports of the largest listed banks in Vietnam from 2011 to 2018. Intellectual capital is measured using a modified value-added intellectual coefficient model. CG is proxied by board remuneration. This study measures CSR using the ratio between charitable contributions and profit before tax. In addition, this study uses the generalized method of moments to overcome several econometric problems exhibited in previous empirical studies.
Findings
Results indicate that CG and CSR have a positive impact on intellectual capital. Intellectual capital plays a moderating role in the relationship between CG and CSR. Moreover, CG and intellectual capital in the previous year significantly affect CG in the current year.
Practical implications
Based on the findings from this study, policy implications have emerged for bank executives and policymakers in formulating and implementing policy about the balance between intellectual capital accumulation, CG and CSR.
Originality/value
To the best of the authors’ knowledge, this is the first empirical study conducted to examine the interrelationship between intellectual capital, CG and CSR and their combined effects in emerging countries such as Vietnam.
Details
Keywords
Duc Hong Vo, Ngoc Phu Tran, Hien Thi-Thu Hoang and Loan Thi-Hong Van
This paper aims to provide empirical evidence and policy implications on the link between corporate social responsibility, financial inclusion and financial performance of the…
Abstract
Purpose
This paper aims to provide empirical evidence and policy implications on the link between corporate social responsibility, financial inclusion and financial performance of the banking sector in an emerging market.
Design/methodology/approach
This study uses data collected from the annual reports of 13 listed banks in Vietnam from 2011 to 2019. CSR is proxied by the ratio between charitable contributions and bank profits. Besides, this study uses the number of branches and the number of agents as the proxies for a level of financial inclusion. The generalized method of moments and various tests are used to ensure the robustness of the findings.
Findings
Findings in this study indicate that CSR activities do matter, and they contribute positively to financial inclusion. In addition, the bank’s size is also associated with an increased level of financial inclusion.
Practical implications
Findings from this study provide important implications for bank executives and policymakers in Vietnam in managing and extending CSR activities with the view of supporting and enhancing financial inclusion.
Originality/value
To the best of the author’s knowledge, this is the first empirical study in the context of the banking sector in Vietnam in which the impact of CSR activities and financial performance of the banking sector on financial inclusion at the bank level is examined.
Details
Keywords
Huu Cuong Nguyen, Phan Minh Hoa Nguyen, Bich Hiep Tran, Thi Thien Nga Nguyen, Le Thanh Thuy Hoang and Thi Thu Hien Do
This paper aims to examine the levels of integrated reporting disclosure alignment in annual reports by listed firms in Vietnam and the factors influencing these disclosure levels.
Abstract
Purpose
This paper aims to examine the levels of integrated reporting disclosure alignment in annual reports by listed firms in Vietnam and the factors influencing these disclosure levels.
Design/methodology/approach
Drawing on a sample of 200 listed firms in Vietnam in 2017, the authors constructed a disclosure index based on the content of the International Integrated Reporting Committee (IIRC) Framework. Using this index, the study measures the extent to which Vietnamese listed firms’ annual reports include the content elements required by the integrated reporting (IR) Framework. The study performs ordinary least square regression to investigate the influencing factors.
Findings
The study documents that, on average, Vietnamese listed firms disclose about 43% of the information required by the IIRC Framework. The disclosure levels are positively associated with manufacturing firms, board independence, foreign ownership, government ownership, audit quality and firm size.
Originality/value
Integrated reports have been widely adopted in many countries, but it is still a new issue in Vietnam. This is the first paper providing some insights into the inclusion of the content elements required by the IR Framework by listed firms in Vietnam. It also contributes to the disclosure literature by providing empirical evidence on the factors influencing these disclosure levels. Deriving from the findings, the authors offer recommendations for policymakers on the issue of regulating and implementing IR in Vietnam.
Details
Keywords
Giang Hoang, Thuy Thu Thi Le, Anh Kim Thi Tran and Tuan Du
This study aims to explore the mediating roles of self-efficacy and learning orientation in the relationship between entrepreneurship education and entrepreneurial intentions of…
Abstract
Purpose
This study aims to explore the mediating roles of self-efficacy and learning orientation in the relationship between entrepreneurship education and entrepreneurial intentions of university students in Vietnam.
Design/methodology/approach
The data were collected from an online survey of 1,021 university students in Vietnam. The authors conducted a hierarchical regression analysis to test the hypotheses.
Findings
The results of hierarchical regression analysis reveal that entrepreneurship education positively affects entrepreneurial intentions, and this relationship is mediated by both learning orientation and self-efficacy.
Research limitations/implications
This study confirms the importance of entrepreneurship education in encouraging university students' entrepreneurial intentions.
Practical implications
This study offers practical implications for universities and policy makers.
Social implications
This study is one of the first to empirically examine the concept of entrepreneurship education and entrepreneurial intentions in an Asia-Pacific context.
Originality/value
This study emphasises the significance of entrepreneurship education and its effects on university students' entrepreneurial intentions. Furthermore, the findings confirm that self-efficacy and learning orientation play an important part in explaining how entrepreneurship education relates to entrepreneurial intentions.
Details
Keywords
Hien Thu Thi Nguyen, Long Thanh Giang and Toan Ngoc Pham
The purpose of this study was to evaluate how higher tax on tobacco would influence output and employment in Vietnam.
Abstract
Purpose
The purpose of this study was to evaluate how higher tax on tobacco would influence output and employment in Vietnam.
Design/methodology/approach
The authors used micro-simulation techniques proposed by Walbeeck (2010). Both national data (from Input–Output Table) and household data (Vietnam Household Living Standard Survey) were utilized.
Findings
The results showed that any increase in the excise tax for tobacco would have positive net impacts on both national output and employment. The tobacco industry would not be significantly affected due to its small contribution to national economy and employment. More importantly, money released from reduced tobacco consumption would be reallocated to other goods and services, and thus outputs and jobs in nontobacco sectors would increase.
Research limitations/implications
The key limitation of this study was due to unavailability of updated data, especially Input–Output Table as well as household living standard survey.
Practical implications
This study concluded that government should increase tax on cigarette along with a well-planned roadmap to avoid unexpected consequences on income and employment of laborers in this sector.
Originality/value
This study replicated a popular approach in order to verify an important government policy (i.e. effect of tax on tobacco on output and employment) under Vietnamese context.
Details
Keywords
Ha Thi Thu Nguyen, Tri Tri Nguyen and Hien Thi Thu Nguyen
This paper studies the association between earnings opacity and corporate social responsibility disclosures of firms listed on the Vietnamese Stock Exchange.
Abstract
Purpose
This paper studies the association between earnings opacity and corporate social responsibility disclosures of firms listed on the Vietnamese Stock Exchange.
Design/methodology/approach
We utilize a dataset comprising a sample of all listed Vietnamese firms for the period of 2014–2022. Data regarding corporate social responsibility information are gathered manually. Following Dechow et al. (1995), Kothari et al. (2005) and Bhattacharya et al. (2003), earnings opacity is measured by using three proxies, including abnormal accruals, earnings smoothing and loss avoidance. Our hypothesis was tested via ordinary least squares (OLS) regressions. To address endogeneity problems, we use the two-stage instrumental variable method (IV-2SLS) as well as the generalized method of moments (GMM) to ensure the robustness of our results.
Findings
We find that earnings opacity is positively related to corporate social responsibility disclosures. Cross-sectional analyses indicate that managers of firms disguise their opportunistic behaviour by disclosing more information about corporate social responsibility. The evidence also shows that firms experience long-run underperformance when having higher earnings opacity and greater sustainability disclosures. Our results remain robust even after correcting for endogeneity using the IV approach and the GMM method.
Practical implications
Evidence from this study can serve as a warning signal to the investment community, highlighting that some methods aimed at enhancing a firm’s corporate social responsibility disclosures might be used to obstruct other unethical activities. Moreover, the results of this study can help regulators gain a better comprehension of firms' reporting patterns concerning corporate social responsibility initiatives. It should not only reform the corporate social responsibility regulation but also impose stronger litigation for firms to enhance the quality of corporate social responsibility disclosures.
Originality/value
We are the first to present evidence regarding the relationship between earnings opacity and corporate social responsibility disclosure in Vietnam.
Details
Keywords
This chapter provides information on the development of Vietnamese education under the influence of global forces based on the analysis of relevant education research and policies…
Abstract
This chapter provides information on the development of Vietnamese education under the influence of global forces based on the analysis of relevant education research and policies using Wolhuter’s frameworks. In the process of coming up with ways to develop education in the face of different influences of globalization, besides having reactions with patterns commonly found in countries around the world, Vietnam also has responses that reflect its own political, sociocultural and economic characteristics. The state still plays a controlling role in education at all levels and many culture-related features that have existed throughout the country’s history have hardly changed, namely aspects related to teachers, learners and teaching and learning methods. To sustain its education in the globalized era, Vietnam must make more efforts in various aspects such as the link between education and employment, the logic of education objectives, the feasibility and appropriateness of curricula, quality of education, especially of higher education and equality in education for underprivileged groups.
Details
Keywords
Hoang-Long Cao, Huynh Anh Duy Nguyen, Trong Hieu Luu, Huong Thi Thu Vu, Diep Pham, Van Thi Ngoc Vu, Hoang Hai Le, Duy Xuan Bach Nguyen, Trong Toai Truong, Hoang-Dung Nguyen and Chi-Ngon Nguyen
COVID-19 hits every country’s health-care system and economy. There is a trend toward using automation technology in response to the COVID-19 crisis not only in developed…
Abstract
Purpose
COVID-19 hits every country’s health-care system and economy. There is a trend toward using automation technology in response to the COVID-19 crisis not only in developed countries but also in those with lower levels of technology development. However, current studies mainly focus on the world level, and only a few ones report deployments at the country level. The purpose of this paper is to investigate the use of automation solutions in Vietnam with locally available materials mainly in the first wave from January to July 2020.
Design/methodology/approach
The authors collected COVID-related automation solutions during the first wave of COVID-19 in Vietnam from January to July 2020 through a search process. The analysis and insights of a panel consisting of various disciplines (i.e. academia, health care, government, entrepreneur and media) aim at providing a clear picture of how and to what extent these solutions have been deployed.
Findings
The authors found seven groups of solutions from low to high research and development (R&D) levels deployed across the country with various funding sources. Low R&D solutions were widely spread owing to simplicity and affordability. High R&D solutions were mainly deployed in big cities. Most of the solutions were deployed during the first phases when international supply chains were limited with a significant contribution of the media. Higher R&D solutions have opportunities to be deployed in the reopening phase. However, challenges can be listed as limited interdisciplinary research teams, market demand, the local supporting industry, end-user validation and social-ethical issues.
Originality/value
To the authors’ best knowledge, this is the first study analyzing the use of automation technology in response to COVID-19 in Vietnam and also in a country in Southeast Asia. Lessons learned from these current deployments are useful for future emerging infectious diseases. The reality of Vietnam’s automation solutions in response to COVID-19 might be a reference for other developing countries with similar social-economic circumstances and contributes to the global picture of how different countries adopt technology to combat COVID-19.
Details
Keywords
Hanh Minh Thai, Giang Nguyen Thuc Huong, Trinh Trong Nguyen, Hien Thu Pham, Huyen Thi Khanh Nguyen and Trang Huyen Vu
Climate change increases systematic risk for firms, especially those in the agricultural industry. Therefore, the need to examine the consequences of climate-related risks on…
Abstract
Purpose
Climate change increases systematic risk for firms, especially those in the agricultural industry. Therefore, the need to examine the consequences of climate-related risks on agribusiness companies' financial performance across the globe and emerging markets has risen. In this context, the paper aims to investigate the effects of climate change risks on the financial performance of agriculture listed firms in Vietnam.
Design/methodology/approach
The study sample includes 77 Vietnamese listed firms in the agricultural industry in the period of 2015–2019. The authors chose temperature, wind, rainfall and humidity proxies to measure climate change. The OLS regression, random regression and sub-sample analysis have been used to examine the impacts of climate risks on firms' financial performance.
Findings
Empirical results show that rain and temperature have positive impacts on financial performance of Vietnamese agriculture listed firms, while wind and humidity have insignificant impacts on financial performance.
Research limitations/implications
The research helps researchers, businesses, practitioners and policymakers interested in the agricultural industry, especially those in developing and emerging countries, to develop a deep understanding of the impact of climate change risks on firm performance and therefrom prepare necessary measures to reduce the negative impacts.
Originality/value
This study adds to the literature stream on the impacts of climate change on financial performance. It is the first study to investigate this impact in Vietnam, a country which depends mainly on agriculture.
Details
Keywords
This chapter focuses on the potential of urban agriculture to support progress in SDG targets 2.1, 2.2, 2.3, and 2.4 in Ho Chi Minh City (HCMC), Vietnam. The chapter integrates…
Abstract
This chapter focuses on the potential of urban agriculture to support progress in SDG targets 2.1, 2.2, 2.3, and 2.4 in Ho Chi Minh City (HCMC), Vietnam. The chapter integrates findings from the British Council-funded project, ‘Urban Resilience from Agriculture through Highly Automated Vertical Farming in the UK and Vietnam’, undertaken in collaboration with Middlesex University, Van Lang University, and local agricultural stakeholders in HCMC. Food security in the city faces multiple challenges ranging from significant in-migration, decreasing area of cultivated land, the impact of the Covid-19 pandemic that continues to depress the economy and disrupt food supply chains, and climate change impacts affecting the environment and people throughout the city. HCMC accommodates a substantial agricultural sector, which is evolving from traditional to modern production practices. City’s leaders established numerous policies that emphasise green, circular economies, climate change resilience, and low carbon emissions fuelling demand for agricultural solutions that integrate traditional and modern technologies that can be embedded in the local topography, soil types, architectural space, and native culture. Findings from greenhouse trials, community awareness surveys, and stakeholder-led workshops point to a range of high-technology-supported agriculture models that, if applied flexibly throughout the varying context of the urban area, have good scope to help Ho Chi Minh City and meet its growing need for food as well as its sustainability aspirations.