Ho Thuy Tien, Nguyen Mau Ba Dang and Ngo Thai Hung
This paper aims to investigate the conditional equicorrelation and cross-quantile dependence between the DeFi, European and GCC currency markets (Oman, Qatar, Bahrain, Kuwait…
Abstract
Purpose
This paper aims to investigate the conditional equicorrelation and cross-quantile dependence between the DeFi, European and GCC currency markets (Oman, Qatar, Bahrain, Kuwait, Saudi Arabia and the United Arab Emirates).
Design/methodology/approach
This study applies the GARCH-DECO model and cross-quantilogram framework.
Findings
The findings reveal evidence of weak and negative average equicorrelations between the examined markets through time, excluding the COVID-19 outbreak and Russia–Ukraine conflict, which is consistent with the literature examining relationships in different markets. From the cross-quantilogram model, the authors note that the dependence between DeFi, EURO and GCC foreign exchange rate markets is greatest in the short run and diminishes over the medium- and long-term horizons, indicating rapid information processing between the markets under consideration, as most innovations are transmitted in the short term.
Practical implications
For the pairs of DeFi and currency markets, the static and dynamic optimal weights and hedging ratios are also estimated, providing new empirical data for portfolio managers and investors.
Originality/value
To the best of the authors’ knowledge, this is one of the most important research looking into the conditional correlation and predictability between the DeFi, EURO and GCC foreign exchange markets. More importantly, this study provides the first empirical proof of the safe-haven, hedging and diversification qualities of DeFi, EURO and GCC currencies, and this work also covers the COVID-19 pandemic and the Russia–Ukraine war with the use of a single dynamic measure produced by the GARCH-DECO model. In addition, the directional predictability between variables under consideration using the cross-quantilogram model is examined, which can be capable of capturing the asymmetry in the quantile dependent structure. The findings are helpful for both policymakers and investors in improving their trading selections and strategies for risk management in different market conditions.
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Ho Thuy Tien and Ngo Thai Hung
This study aims to examine the spillover effects of the mean and volatility between oil prices and stock indices of six Gulf Cooperation Council (GCC) countries (UAE, Kuwait…
Abstract
Purpose
This study aims to examine the spillover effects of the mean and volatility between oil prices and stock indices of six Gulf Cooperation Council (GCC) countries (UAE, Kuwait, Saudi Arabia, Qatar, Oman and Bahrain).
Design/methodology/approach
Over the period 2008–2019, a bivariate VARMA-GARCH-ADCC model was combined with the maximal overlap discrete wavelet transform technique filter to shed light on a wide range of possible spillover effects in the mean and variances of level prices at various time horizons.
Findings
The authors find that the spillover effects between oil prices and the GCC stock markets are time-varying and spread across various time horizons. Besides, oil prices and stock market indices are directly impacted by their own shocks and variations and indirectly influenced by other price volatilities and wavelet scales. The linkages in volatility spillovers between oil prices and the GCC stock markets occur in the short-term, midterm and long-term horizons. More specifically, the results also show that the asymmetric estimates are statistically significant for the associations between oil prices and each stock market in the GCC countries. This implies that negative shocks play a more vital role than positive shocks in driving the dynamic condition correlations between oil and stock markets under study.
Practical implications
The significant interrelatedness between oil prices and each stock market in the GCC countries has important implications for investors, portfolio managers, and other market participants. They can use the findings of this research to create the best oil-GCC stock portfolios and predict more precisely the volatility spillover patterns in constructing their hedging strategies.
Originality/value
In several ways, this study differs from previous research. First, while previous empirical studies of the dynamic link between oil prices and stock markets have focused primarily on developed or emerging markets, the focus of this is on six GCC countries. Second, the linkage between oil prices and stock markets is typically studied at the original data level in the time domain in relevant literature, while frequency information is overlooked. Therefore, the current study examines this relationship from a multiscale perspective. Third, in this paper, to capture a wide range of possible spillover effects in the mean and variance of level prices at multiple wavelet scales, the authors use a VARMA-GARCH-ADCC model in conjunction with wavelet multiresolution analysis. Additionally, this article also applies wavelet hedge ratio and wavelet hedge portfolio analysis at various time horizons.
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Thuy Giang Thi Giang, Luu Tien Dung, Huynh Thuy Tien and Chung Tu Bao Nhu
This study aimed to determine the effects of corporate social responsibility (CSR) on gig workers’ commitment to online platforms.
Abstract
Purpose
This study aimed to determine the effects of corporate social responsibility (CSR) on gig workers’ commitment to online platforms.
Design/methodology/approach
The study’s sample consisted of 357 gig workers in Vietnam. The data was analysed using a partial least squares structural equation model (PLS-SEM).
Findings
The research findings suggested that the interaction between CSR and worker commitment with gig platforms has the mediating role of empowerment and trust.
Practical implications
The gig economy is an emerging form of employment relationship, in which gig workers’ commitments are usually to the platform rather than to a sole employer. This study suggests that gig platform owners should improve CSR perception to increase employee commitment and maintain their workforce to attract new users.
Originality/value
This study developed a new framework to explain the relationship between CSR and gig work commitment, and furthermore evaluated the effects of mediating mechanisms of empowerment and trust on gig worker commitment in the gig economy platform.
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Tien Dung Luu, Thuy Tien Huynh and Tuan Thanh Phung
This paper aims to assess the relationships between foreign direct investment (FDI) and domestic entrepreneurship (DE) with the moderating role of formal institutions (FI)…
Abstract
Purpose
This paper aims to assess the relationships between foreign direct investment (FDI) and domestic entrepreneurship (DE) with the moderating role of formal institutions (FI), logistics and information communication technology (ICT) capacities.
Design/methodology/approach
The study is based on unbalanced panel data of 53 countries from 2006 to 2020 at different stages of development, using a fuzzy-set qualitative comparative analysis.
Findings
The research results indicate that FDI directly affects the establishment of domestic entrepreneurship. Additionally, FDI firms via the buffer mechanism of FI, logistics and ICT development for DE. Through its adjustment to the quality of institutions, logistics and ICT infrastructure, GDP per capita determines the direction of FDI's impact on DE.
Originality/value
The study's findings grant empirical evidence and theoretical contributions to the relationship between FDI and domestic entrepreneurial development through the buffering mechanism of FI, logistics and the role of ICT.
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Chau Thi Ngoc Pham, Hung Ngoc Phan, Thao Thanh Hoang, Tien Thi Thuy Dao and Huong Mai Bui
The health and environmental hazards associated with synthetic dyes have led to a revival of natural dyes that are non-toxic, environmentally benign and coupled with various…
Abstract
Purpose
The health and environmental hazards associated with synthetic dyes have led to a revival of natural dyes that are non-toxic, environmentally benign and coupled with various functions. The study aims to investigate and develop the potentiality of a popular herb called Chromolaena odorata (C. odorata) as a sustainable and stable dyestuff in textiles.
Design/methodology/approach
Natural colorant extracted from C. odorata leaves is used to dye the worsted fabric, which is one of the premier end-use of wool in fashion, via the padding method associated with pre-, simultaneous and post-mordanting with chitosan, tannic acid and copper sulfate pentahydrate. The effects of extraction, dyeing and mordanting processes on fabric’s color strength K/S and color difference ΔECMC are investigated via International Commission on Illumination’s L*a*b* color space, Fourier transform infrared spectroscopy, scanning electron microscope, color fastness to washing, rubbing, perspiration and light.
Findings
The results obtained indicate extraction with ethanol 90% with a solid/liquid ratio of 1:5 within 1 h, and coloration with a liquor ratio of 1:5 (pH 5) within 2 h under padding pressure of 0.3 MPa are the most effective for coloring worsted fabric.
Practical implications
The C. odorata’s application as a highly effective dyestuff possessing good colorimetric effectiveness has expanded this herb's economic potential, contributing partly to economic growth and adding value to wool in global supply chain.
Originality/value
C. odorata dyestuff has prevailed over other natural colorants because of its impressive color fastness against washing, rubbing, perspiration and especially color stability for pH change.
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Doan Thi Thuy, Pham Tien Thanh, Nguyen Hoang Chau Pha and Nguyen Thii Lan Anh
A high-quality workforce plays an important role in rural development. However, many well-educated rural-born youths migrate to urban centers in search for better economic…
Abstract
Purpose
A high-quality workforce plays an important role in rural development. However, many well-educated rural-born youths migrate to urban centers in search for better economic opportunity or living standard due to the socio-economic underdevelopment and a lack of good employment opportunity in rural areas. This migration potentially hampers economic activities in these areas. Therefore, encouraging these youth to return and work is important, demanding the attention of local governments. Accordingly, this research aims to examine the role of local infrastructure and entrepreneurial opportunity in enhancing their return-and-work intention.
Design/methodology/approach
Data were collected from rural-born students studying in urban areas. The quantitative analysis was conducted using structural equation modeling, supplemented by qualitative methods.
Findings
Local infrastructure is positively associated with entrepreneurial opportunity and return-to-work intention. Furthermore, entrepreneurial opportunity is positively linked to return-to-work intention. These results indicate the mediating roles of entrepreneurial opportunity in the effects of local infrastructure on return-to-work intention.
Practical implications
This research offers policy implications for policymakers and local governments in developing countries, emphasizing the important roles of local infrastructure, and entrepreneurial opportunity. This can encourage well-educated rural-born youth to return and work in rural areas, thereby contributing to fostering rural development and revitalizing rural communities.
Originality/value
This research represents one of the early attempts to explore the complex relationships among local infrastructure, entrepreneurial opportunity and return-to-work intention in rural areas among well-educated rural-born youth.
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Tram-Anh Ngoc Pham, Hau Nguyen Le, Dung Tien Nguyen and Thuy Ngoc Pham
Understanding customers’ expertise for better service co-creation is of great importance. To be an effective co-creator, customers need to have much more knowledge than a basic…
Abstract
Purpose
Understanding customers’ expertise for better service co-creation is of great importance. To be an effective co-creator, customers need to have much more knowledge than a basic literacy, which is appropriate for passive service consumption. This paper aims to propose the concept of customer service co-creation literacy (SCL) to capture not only the basic expertise but also the expertise for active service co-creation. This study then investigates how SCL can be cultivated and how it facilitates customer co-creation behavior, which subsequently leads to enhanced value.
Design/methodology/approach
A conceptual model was developed and tested in the health-care service context using a sample of 310 patients. CB-SEM/AMOS software package was used for data analysis.
Findings
SCL has different impacts on three components of co-creation behavior, which in turn influence the service value differently. SCL not only solely facilitates co-creation behavior but also directly increases customer value. SCL can be cultivated by social support and frontline employee interaction.
Practical implications
The findings offer managerial and societal implications for cognitive interventions to develop customers’ SCL, which is aligned to customers’ needed literacy for co-creation and well-being.
Originality/value
The newly proposed concept of SCL is shown to be more appropriate in research adopting the service-dominant logic. Its importance as one type of customer operant resource for value co-creation is underscored. Findings also uncover how other actors indirectly contribute to customers’ value co-creation via developing their SCL resources.
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Huynh Thi Thuy Giang and Luu Tien Dung
The purpose of the present study is to examine the direct impact of transformational leadership on non-family employee intrapreneurial behaviour and through a mediating role of…
Abstract
Purpose
The purpose of the present study is to examine the direct impact of transformational leadership on non-family employee intrapreneurial behaviour and through a mediating role of corporate adaptive culture and psychological empowerment in family-owned firms.
Design/methodology/approach
The study’s sample consisted of 368 key role non-family employees at 109 family export and import firms in the Ho Chi Minh City of Vietnam. The data is analysed using a partial least square–structural equation model (PLS-SEM).
Findings
This paper shows that transformational leadership had a positive and significant influence on non-family employee intrapreneurial behaviour directly and via adaptive corporate culture and psychological empowerment as a mediating influence mechanism.
Practical implications
Family-owned firms might balance the need to maintain traditional core values and requires innovation through the development of human capital with non-family employee intrapreneurship.
Originality/value
This paper grants a unique approach to studying intrapreneurial behaviour in the context of the family-owned business.
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Luu Tien Dung and Huynh Thi Thuy Giang
This study aims to reveal the effect of the two international intrapreneurship activities of employee strategic renewal behaviour and new business venture behaviour on small and…
Abstract
Purpose
This study aims to reveal the effect of the two international intrapreneurship activities of employee strategic renewal behaviour and new business venture behaviour on small and medium enterprises (SMEs)’s export performance with the direct and indirect effects of transformational leadership, international entrepreneurial orientation and internal corporate social responsibility (CSR) practices.
Design/methodology/approach
The study sample consists of 461 employees at 168 Vietnamese import and export SMEs in the Ho Chi Minh City of Vietnam. The data is analysed by structural equation modelling.
Findings
The paper reveals that the two international intrapreneurship activities of employee strategic renewal behaviour and new business venture behaviour significantly contribute to SMEs’ export performance. Transformational leadership, internal CSR practice and international entrepreneurial orientation positively and significantly direct influence the two international intrapreneurship activities. The effects of transformational leadership on international intrapreneurial behaviours are partially mediated by firm internal CSR practices and international entrepreneurial orientation.
Research limitations/implications
Firms would have to form the architecture and mechanisms to apply internal CSR and international entrepreneurship orientation for supporting the dedication of international intrapreneurship with a transformational leadership base.
Originality/value
The study contributes to the body of knowledge on international business by integrating resource-based view theory and dynamic capabilities theory in a way that benefits entrepreneurship and SMEs’ export performance.
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Thuy Thi Nguyen, Tien Hanh Duong, My Tran Thanh Dinh, Tram Ho Ha Pham and Thu Mai Anh Truong
This study aims to empirically investigate how difference in social trust explains the heterogeneity of intellectual property right (IPR) protection (proxied by software piracy…
Abstract
Purpose
This study aims to empirically investigate how difference in social trust explains the heterogeneity of intellectual property right (IPR) protection (proxied by software piracy rate) across countries. Specifically, the authors also examine whether this effect is complementary or substitute to legal and economic factors.
Design/methodology/approach
The authors use both ordinary least square and two-stage least square regressions to investigate this effect.
Findings
The authors find that there is also a complementary effect between trust and rule of law in reducing the violation of IPRs.
Originality/value
Although the literature by now has documented the solid relationship between trust and the quality of formal institutions, only few studies have explored more specific measures of institutional consequences. Thus, this study is the first study investigating the role of trust, a valuable social capital dimension, on IPR protection.