Nguyen Sinh My, Long T.V. Nguyen and Hiep Cong Pham
Property developers identify the vital role of social media brand engagement (SMBE) in sustaining their businesses in competitive marketplaces, but it remains underexplored. This…
Abstract
Purpose
Property developers identify the vital role of social media brand engagement (SMBE) in sustaining their businesses in competitive marketplaces, but it remains underexplored. This paper examines how SMBE mediates the effects of firm-generated content (FGC) and user-generated content (UGC) on brand trust, considering the moderating effects of social media influencer endorsement (SMIE) and self-image congruence (SIC) for luxury residential properties (LRPs).
Design/methodology/approach
Around 516 high-income homebuyers in Vietnam who shared information about LRP on social media were targeted to test the research model empirically. The primary data collected from paper-based surveys were analysed using SPSS 26 and AMOS 24.
Findings
Results indicate that FGC and UGC positively impact SMBE and consequently significantly affect brand trust. Further, results confirm the moderating roles of SMIE and SIC in the effects of FGC and UGC on SMBE.
Research limitations/implications
Data and sample size were limited to meet the generalisation from different nations and cross cultures.
Practical implications
The authors' findings suggest that marketers should apply the authors' integrated SMBE model to strengthen brand–consumer interactions and increase their sales revenue.
Originality/value
This study is the first in its application of the uses and gratifications theory and self-congruence theory to investigate how SMBE mediates the relationship between FGC and brand trust as well as between UGC and brand trust. Noticeably, this study makes a novel contribution as the first to quantitatively explore the moderating effects of SMIE and SIC in the authors' research model.
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Trang 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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Zhichao Wang and Valentin Zelenyuk
Estimation of (in)efficiency became a popular practice that witnessed applications in virtually any sector of the economy over the last few decades. Many different models were…
Abstract
Estimation of (in)efficiency became a popular practice that witnessed applications in virtually any sector of the economy over the last few decades. Many different models were deployed for such endeavors, with Stochastic Frontier Analysis (SFA) models dominating the econometric literature. Among the most popular variants of SFA are Aigner, Lovell, and Schmidt (1977), which launched the literature, and Kumbhakar, Ghosh, and McGuckin (1991), which pioneered the branch taking account of the (in)efficiency term via the so-called environmental variables or determinants of inefficiency. Focusing on these two prominent approaches in SFA, the goal of this chapter is to try to understand the production inefficiency of public hospitals in Queensland. While doing so, a recognized yet often overlooked phenomenon emerges where possible dramatic differences (and consequently very different policy implications) can be derived from different models, even within one paradigm of SFA models. This emphasizes the importance of exploring many alternative models, and scrutinizing their assumptions, before drawing policy implications, especially when such implications may substantially affect people’s lives, as is the case in the hospital sector.
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Ba-Phu Nguyen, Ananta Man Singh Pradhan, Tan Hung Nguyen, Nhat-Phi Doan, Van-Quang Nguyen and Thanh-Canh Huynh
The consolidation behavior of prefabricated vertical drain (PVD)-installed soft deposits mainly depends on the PVD performance. The purpose of this study is to propose a numerical…
Abstract
Purpose
The consolidation behavior of prefabricated vertical drain (PVD)-installed soft deposits mainly depends on the PVD performance. The purpose of this study is to propose a numerical solution for the consolidation of PVD-installed soft soil using the large-strain theory, in which the reduction of discharge capacity of PVD according to depth and time is simultaneously considered.
Design/methodology/approach
The proposed solution also takes into account the general constitute relationship of soft soil. Subsequently, the proposed solution is applied to analyze and compare with the monitoring data of two cases, one is the experimental test and another is the test embankment in Saga airport.
Findings
The results show that the reduction of PVD discharge capacity according to depth and time increased the duration required to achieve a certain degree of consolidation. The consolidation rate is more sensitive to the reduction of PVD discharge capacity according to time than that according to the depth. The effects of the reduction of PVD discharge capacity according to depth are more evident when PVD discharge capacity decreases. The predicted results using the proposed numerical solution were validated well with the monitoring data for both cases in verification.
Research limitations/implications
In this study, the variation of PVD discharge capacity is only considered in one-dimensional consolidation. However, it is challenging to implement a general expression for discharge capacity variation according to time in the two-dimensional numerical solution (two-dimensional plane strain model). This is the motivation for further study.
Practical implications
A geotechnical engineer could use the proposed numerical solution to predict the consolidation behavior of the drainage-improved soft deposit considering the PVD discharge capacity variation.
Originality/value
The large-strain consolidation of PVD-installed soft deposits could be predicted well by using the proposed numerical solution considering the PVD discharge capacity variations according to depth and time.
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Nhat Nguyen, Khalid Almarri and Halim Boussabaine
The net-present-value (NPV) method is well-known for its drawbacks. To overcome some of these NPV weaknesses this paper aims to provide a methodology to determine an optimal…
Abstract
Purpose
The net-present-value (NPV) method is well-known for its drawbacks. To overcome some of these NPV weaknesses this paper aims to provide a methodology to determine an optimal concession period that treats risk and time separately. The purpose of this paper is to apply the notion of risk-adjusted decoupled net present value (risk-adjusted DNPV) to determine a conception period taken into consideration synthetic insurance premiums as compensation for risks.
Design/methodology/approach
This paper conducts theoretical and empirical analysis and provides an integrated model for deriving concession periods of any PPP projects. The model is able to capture several contractual issues such risks costing and other contractual scenarios. Methodologically, the paper addressees both the issues of risk-based cost–benefit analysis and cash flow analysis bearing an emphasis of risk-adjusted DNPV to compute an optimum concession period.
Findings
The results show that using DNPV will produce a shorter concession period comparatively to NPV. The consequence of this is that the public sector will gain financially from an earlier transfer of the concession.
Research limitations/implications
This paper contributes to the PPP literature by combing DNPV and risk to determine the PPP concession period for the mutual benefits both the private and public sectors. The decoupling of risk from traditional NPV computation will allow for risk pricing and tradability through insurance and allocation.
Originality/value
The attempt to decouple time and risk in the computation of NPV is the added value to the body of knowledge.
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Canh Thi Nguyen, Thanh Quang Ngo and Quan Hong Nguyen
The paper aims to assess the impact of weather-induced shocks on household food consumption in the rural Vietnamese Mekong Delta (VMD) through the case of Long An province and…
Abstract
Purpose
The paper aims to assess the impact of weather-induced shocks on household food consumption in the rural Vietnamese Mekong Delta (VMD) through the case of Long An province and evaluate the effectiveness of widely used coping strategies in mitigating weather-related shock impacts.
Design/methodology/approach
The system generalized method of moments (GMM) estimation method is applied to explore information on shock incidence, recovery, and time occurrences. The paper uses a sample of 272 repeated farming households from 5-wave survey data from 2008 to 2016, resulting in 1,360 observations.
Findings
The paper confirms the robust negative effect of a natural shock on food consumption. Additionally, using savings proves to be the most potent measure to smooth food consumption. Other favorable coping strategies are “getting assistance from relatives, friends” or “getting assistance from the Government, and non-government organizations (NGOs).” The mitigating effects are also traced in the current analysis.
Research limitations/implications
Using caution when generalizing the results from Long An to the whole VMD is reasonable. The rather limited observations of coping strategies do not allow the authors to analyze any specific strategy.
Originality/value
The proposed approach employs the GMM technique and controls for endogenous coping strategies and thus provides accurate estimates of the effects of weather-related shocks and the mitigation effectiveness in the rural VMD.
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Van Luc Nguyen, Tomohiro Degawa and Tomomi Uchiyama
This paper aims to provide discussions of a numerical method for bubbly flows and the interaction between a vortex ring and a bubble plume.
Abstract
Purpose
This paper aims to provide discussions of a numerical method for bubbly flows and the interaction between a vortex ring and a bubble plume.
Design/methodology/approach
Small bubbles are released into quiescent water from a cylinder tip. They rise under the buoyant force, forming a plume. A vortex ring is launched vertically upward into the bubble plume. The interactions between the vortex ring and the bubble plume are numerically simulated using a semi-Lagrangian–Lagrangian approach composed of a vortex-in-cell method for the fluid phase and a Lagrangian description of the gas phase.
Findings
A vortex ring can transport the bubbles surrounding it over a distance significantly depending on the correlative initial position between the bubbles and the core center. The motion of some bubbles is nearly periodic and gradually extinguishes with time. These bubble trajectories are similar to two-dimensional-helix shapes. The vortex is fragmented into multiple regions with high values of Q, the second invariant of velocity gradient tensor, settling at these regional centers. The entrained bubbles excite a growth rate of the vortex ring's azimuthal instability with a formation of the second- and third-harmonic oscillations of modes of 16 and 24, respectively.
Originality/value
A semi-Lagrangian–Lagrangian approach is applied to simulate the interactions between a vortex ring and a bubble plume. The simulations provide the detail features of the interactions.
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Yoon Heo, Nguyen Thi Thanh Huyen and Nguyen Khanh Doanh
This paper aims to analyze the impacts of institutional quality on trade flows of NAFTA with a panel data set of 105 countries spanning the period 2006–2017.
Abstract
Purpose
This paper aims to analyze the impacts of institutional quality on trade flows of NAFTA with a panel data set of 105 countries spanning the period 2006–2017.
Design/methodology/approach
We applied the system generalized method of moment (GMM) estimator to investigate the impacts.
Findings
The results show that institutional quality is a positive and significant determinant of international trade flows of the NAFTA bloc and its trading partners. Our results also indicate that the impact of institutional quality depends on the level of economic development of NAFTA's trading partners. Specifically, the trade elasticity of institutional quality is the highest for NAFTA’s trade with middle-income countries and the lowest for NAFTA's trade with low-income countries. In the long run, the trade elasticity of institutional quality increased significantly, with the highest increase in the case of NAFTA's trade with medium-income countries and the lowest increase in the case of NAFTA's trade with low-income countries.
Originality/value
This study contributes to the existing literature in three different ways. First, we examine the differential impact of institutions on NAFTA's trade according to the level of economic development of NAFTA's trading partners. Second, we compare the differential trade elasticity of institutional quality in the long run. Finally, we support our findings through an improved research methodology by using the system GMM estimation. This method allows us to overcome the potential sample bias, omitted variable problems and endogeneity of explanatory variables.
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Muhammad Farooq, Muhammad Imran Khan, Qadri Aljabri and Muhammad Tahir Khan
This study aims to examine the impact of corporate governance on the speed of adjustment (SOA) of capital structure in a developing market, Pakistan.
Abstract
Purpose
This study aims to examine the impact of corporate governance on the speed of adjustment (SOA) of capital structure in a developing market, Pakistan.
Design/methodology/approach
The study's sample includes 173 non-financial enterprises that were listed on the Pakistan Stock Exchange (PSX) between 2011 and 2020. The capital structure of the sample companies is determined by the ratio of total debt to total debt plus the market value of equity. Corporate governance is measured by board size, independence, CEO duality, management ownership, blockholders ownership and institutional ownership. A two-step difference GMM model was used to achieve the study's objectives.
Findings
Through applying the reduced form model approach, we discovered that corporate governance variables have a considerable negative impact on the speed of targeted leverage adjustment in sample firms. Additionally, to check the robustness of results, the two-stage technique used to examine this corporate governance-SOA relationship. Furthermore, we discovered that smaller enterprises modify their capital structure more than larger firms. Furthermore, corporations prioritize short-term debt adjustment above long-term debt adjustment.
Practical implications
The study's findings provide further information to company managers and investors on the relationship between corporate governance quality and the pace of adjustment towards targeted leverage across Pakistani enterprises. Furthermore, this study adds new information from growing countries such as Pakistan to the existing literature, which can help regulatory authorities and policymakers improve the quality of corporate governance. It is commonly known that improving the quality of corporate governance practices improves the firm's capital structure, which benefits all stakeholders.
Originality/value
In the context of developing economies, the academic literature lacks research that examine the impact of corporate governance on dynamic capital structure decisions. This study intends to fill this gap.