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Article
Publication date: 29 March 2019

Hiep Ngoc Luu, Ngoc Minh Nguyen, Hai Hong Ho and Dao Ngoc Tien

The purpose of this paper is to empirically investigate the impact of infrastructure on economic development in developing economies.

707

Abstract

Purpose

The purpose of this paper is to empirically investigate the impact of infrastructure on economic development in developing economies.

Design/methodology/approach

A panel data analysis approach is utilised to evaluate the influence of various types of infrastructure on economic development in Vietnam over the period 2003–2013. Specifically, this study uses spatial night-light data taken from NASA’s satellite as an alternative proxy for economic development.

Findings

The analyses indicate that infrastructure enhancement consistently exerts a positive effect on the economy. Upon further investigations of the channels through which infrastructure could affect economic development, the empirical results reveal, in addition, that the developmental impact of infrastructure tends to be stronger if more rigorous government supervision and oversight of the construction and delivery of infrastructure projects are in place to ensure the efficiency and effectiveness of the private sector’s investment in infrastructure facilities. Finally, the interaction of infrastructure with human capital appears to exert an especially important influence upon economic development.

Originality/value

This study contributes to the debate over whether infrastructure has a real developmental effect in developing countries. Some important policy implications are then drawn from the empirical analysis. As a result, this paper will be of value to other researchers, economists, business leaders and policy-makers attempting to understand the economic benefit of infrastructure development.

Details

International Journal of Social Economics, vol. 46 no. 4
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 4 June 2018

Ngoc Luu, Jack Cadeaux and Liem Viet Ngo

The purposes of this study are to examine how contractual and relational governance mechanisms influence total value created in a buyer–supplier relationship and to investigate…

692

Abstract

Purpose

The purposes of this study are to examine how contractual and relational governance mechanisms influence total value created in a buyer–supplier relationship and to investigate how supplier’s information sharing and information sharing asymmetry between two exchange parties differentially moderate these associations.

Design/methodology/approach

The study is conducted with a sample of 110 buyer–supplier matched dyads in various industries in Vietnam.

Findings

This study confirms that contractual governance and relational governance have curvilinear effects on total relationship value. Governance mechanisms have distinct interactions with supplier’s information sharing and information sharing asymmetry to influence total relationship value.

Research limitations/implications

Future study could expand the sample to various countries to investigate the role of cultural factors in the effects of contractual and relational governance.

Practical implications

This study draws implications for supplying managers about how to govern a relationship with a buying firm with which they are sharing information. It also provides implications about how to use contractual and relational governance to control the effects of supplier’s information sharing and information sharing asymmetry, on total relationship value.

Originality/value

This study extends the information sharing literature by looking into the effect of supplier’s information sharing on both parties’ relationship value. It contributes to the governance literature by investigating curvilinear effects of contractual and relational governance on relationship performance.

Details

Journal of Business & Industrial Marketing, vol. 33 no. 5
Type: Research Article
ISSN: 0885-8624

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Article
Publication date: 26 October 2018

Hiep Ngoc Luu, Ngoc Minh Nguyen, Hai Hong Ho and Vu Hoang Nam

The purpose of this paper is to empirically investigate the impact of corruption on foreign direct investment (FDI) and its two major modes of entry: greenfield investment…

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Abstract

Purpose

The purpose of this paper is to empirically investigate the impact of corruption on foreign direct investment (FDI) and its two major modes of entry: greenfield investment (greenfield) and cross-border mergers and acquisitions (M&As).

Design/methodology/approach

Data are collected from 131 countries. Modern econometric techniques, including the generalized method of moments (GMM) estimator, two-stage least square estimator and two-step system GMM estimator, are used to evaluate the impact of corruption on FDI activities.

Findings

The empirical results illustrate that corruption is a deterioration factor that significantly hinders FDI inflows. However, this finding turns out to be contradictory when the two major components of FDI – greenfield investment and cross-border M&As – are separately examined. Specifically, while corruption consistently discourages cross-border M&As over time, it appears to exert positive effect on greenfield investments.

Originality/value

This is among the first to empirically examine the impact of corruption on FDI and its modes of entry in a number of countries spanning different time windows. In this sense, this paper also captures the changing nature of societies and economic conditions overtime and, therefore, enable academic researchers, policy-makers and business practitioners to draw broad inferences from the empirical results.

Details

Journal of Financial Economic Policy, vol. 11 no. 2
Type: Research Article
ISSN: 1757-6385

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Article
Publication date: 7 June 2024

Ngoc Luu and Huy Nguyen

Reflecting subjective feelings of aliveness, thrivingness and energy, entrepreneurs’ eudaimonic well-being helps to enhance firm performance, which raises the question how to…

182

Abstract

Purpose

Reflecting subjective feelings of aliveness, thrivingness and energy, entrepreneurs’ eudaimonic well-being helps to enhance firm performance, which raises the question how to improve this largely under-researched type of well-being. Drawing upon the conservation of resources theory, this study examines how an entrepreneur’s obsessive passion has an inverted U-shaped association while harmonious has a positive association with their eudaimonic well-being, and how these relationships vary under the moderating effect of socially prescribed perfectionism.

Design/methodology/approach

Study 1 includes a survey with entrepreneurs from 182 small businesses in Vietnam. To overcome the limitation of cross-sectional data in Study 1 and test the hypotheses in a diverse and western sample, this research employed a two-wave lagged design in Study 2 with 81 entrepreneurs in the United States and United Kingdom.

Findings

Both studies confirmed that an entrepreneur’s harmonious passion has a positive association and obsessive passion has an inverted U-shaped association with their eudaimonic well-being. This study also found these associations are moderated by socially prescribed perfectionism.

Originality/value

This research extends the literature on eudaimonic well-being in entrepreneurship by confirming its determinants and contributes to the debate about the positive side of obsessive passion. Also, its examination of socially prescribed perfectionism in the context of entrepreneurship lays the foundation for further research on the role of this important personality trait in shaping the performance and well-being of entrepreneurs. This study provides theoretical contributions and managerial implications and suggests areas for future research.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 30 no. 10
Type: Research Article
ISSN: 1355-2554

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Article
Publication date: 12 September 2016

Ngoc Luu, Le Nguyen Hau, Liem Viet Ngo, Tania Bucic and Pham Hung Cuong

This study is embedded in social exchange and transaction cost theories. The purpose of this paper is to compare the relative importance of process value and outcome value in…

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Abstract

Purpose

This study is embedded in social exchange and transaction cost theories. The purpose of this paper is to compare the relative importance of process value and outcome value in building affective and cognitive relationship strength and to compare the relative effects of each type of relationship strength on attitudinal and behavioral loyalty.

Design/methodology/approach

This empirical study features a quantitative approach. The sample comprises 167 business-to-business (B2B) customers of a large transportation and logistics company in Vietnam.

Findings

Process value and outcome value have different effects on affective relationship strength. The effect of process value is greater than that of outcome value. In addition, cognitive strength has a stronger impact on both attitudinal and behavioral loyalty than affective strength.

Research limitations/implications

These insights extend extant literature regarding the process and outcome components of the service assessment. Further studies also should use a cross-industry, cross-country sample to examine the potential moderating effects of country- or industry-specific factors. These findings show B2B managers how to make appropriate resource allocation and investment decisions to enhance relationship strength and resulting customer loyalty.

Originality/value

To clarify the links among customer value, relationship strength and customer loyalty, this study examines the relative importance of rational and non-rational factors (i.e. process value vs outcome value and affective strength vs cognitive strength) for relationship performance. Unlike most prior research, this study is set in the B2B context of a developing country.

Details

Journal of Services Marketing, vol. 30 no. 6
Type: Research Article
ISSN: 0887-6045

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Article
Publication date: 2 October 2019

Loan Quynh Thi Nguyen, Duong Thuy Le, Hiep Ngoc Luu, Anh Huu Nguyen and Thinh Gia Hoang

The purpose of this paper is to explore the role of external audit quality in reducing firm misreporting practices.

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Abstract

Purpose

The purpose of this paper is to explore the role of external audit quality in reducing firm misreporting practices.

Design/methodology/approach

Data are gathered from a number of sources including the Osiris database and firms’ annual reports to construct a comprehensive data set containing financial and non-financial information of over 3,100 publicly listed firms in China during the period 2009–2017. A number of rigorous empirical specifications are utilized with the use of probit, logit and conditional logit regressions, as well as panel pooled OLS and fixed-effect estimators. The IV-2SLS, 2-step system GMM and difference-in-differences techniques are also employed to deal with the potential endogeneity bias to ensure the robustness of the empirical results.

Findings

The empirical results reveal that larger firms and firms having more tangible assets and greater retained earnings are more likely to employ a better-quality external auditor. Subsequently, higher audit quality leads to a deterioration in corporate misreporting. However, these results are not homogenous across firms. While we document similar findings in the case of non-state-owned firms, state-owned enterprises (SOEs) appear to have less tendency to hire a higher-quality auditor, and higher-quality auditors in turn do not play a significant role in reducing misreporting practices in SOEs.

Originality/value

This paper contributes to a better understanding of the mechanism to mitigate corporate misreporting practices. It is one of the few to empirically investigate auditor selections and the association between external audit quality and corporate misreporting practices in China.

Details

International Journal of Managerial Finance, vol. 16 no. 1
Type: Research Article
ISSN: 1743-9132

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Article
Publication date: 26 November 2024

Hiep Ngoc Luu, Loan Quynh Thi Nguyen and Lan Thi Mai Nguyen

This paper investigates the impact of foreign direct investment (FDI) on infrastructure development, focusing on electricity, transportation and telecommunication.

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Abstract

Purpose

This paper investigates the impact of foreign direct investment (FDI) on infrastructure development, focusing on electricity, transportation and telecommunication.

Design/methodology/approach

The study employs multivariate regressions on panel data from up to 165 countries over the period 1996–2015, and the instrumental variables two-stage least squares (IV-2SLS) approach to address endogeneity concerns.

Findings

The results show that FDI promotes most types of infrastructure in the recipient countries. In addition, we find that greenfield investments generally contribute toward infrastructure development, while cross-border M&As exhibit only a little developmental impact and may even exert a negative influence on some infrastructure types. Finally, we find that FDIs have a larger developmental impact on developing nations during the period from 1996 to 2015.

Practical implications

Our findings suggest that, while policies which aim to attract further FDI may yield desirable developmental outcomes, a closer look at particular FDI strategies is required when implementing such policies to ensure a sustainable FDI-development nexus.

Originality/value

This study is among the most comprehensive studies in terms of both the time period and the number of countries analyzed, offering a critical examination of the impact of FDI on infrastructure development. At the same time, by decomposing total FDI into its two major strategies (i.e. greenfield investment and cross-border M&As), we also join the line of work that examines the mechanisms through which FDI affects the development of recipient countries. Finally, it highlights that FDI significantly impacts developing nations, particularly in infrastructure projects affected by corruption. Conversely, in developed countries, FDI may hinder domestic investment and long-term growth.

Details

Journal of Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 20 July 2023

Hiep Ngoc Luu, Phuong-Tra Vu, Dung Thuy Thi Nguyen and Thinh Gia Hoang

The paper aims to examine the impact of tighter banking regulation on banks’ loan loss provisioning in an emerging market context.

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Abstract

Purpose

The paper aims to examine the impact of tighter banking regulation on banks’ loan loss provisioning in an emerging market context.

Design/methodology/approach

The authors exploit the adoption of the Basel II Accord in Vietnam as a quasi-natural experiment and use Difference-to-Difference (DiD) method to examine the impact of tighter banking regulation on Vietnamese banks’ provisioning during the period of 2010–2019.

Findings

The paper finds that affected banks (i.e. those taking part in the pilot adoption programme) manage to reduce their provisions significantly compared to their control peers in the post-adoption period. More importantly, this paper further finds that the affected banks manage their provisions primarily for incomes smoothing and signalling. This paper also finds that those banks expand their lending significantly and experience an increase in financial performance in the post-adoption period. Overall, the results provide supports for the “borrowing from the future” proposition that banks may perceive that a tighter banking regulation provides them with growth opportunities, so they have the tendency to manipulate their provisions to facilitate their current income.

Originality/value

This paper contributes to the established literature on the manipulation of bank provisioning as well as the impact of banking regulation, and especially Basel II on bank economic decisions. As compared to prior literature, the adoption of Basel II in Vietnam provided an ideal shock for us to conduct a DiD design to estimate the causal impact of tighter banking regulation on banks’ provisioning practices.

Details

Journal of Financial Regulation and Compliance, vol. 31 no. 5
Type: Research Article
ISSN: 1358-1988

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Article
Publication date: 28 October 2019

Hiep Ngoc Luu, Loan Quynh Thi Nguyen, Quynh Huong Vu and Le Quoc Tuan

The purpose of this paper is to investigate the impact of income diversification on the financial performance of commercial banks in Vietnam over the period 2007–2017. It then…

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Abstract

Purpose

The purpose of this paper is to investigate the impact of income diversification on the financial performance of commercial banks in Vietnam over the period 2007–2017. It then provides additional analysis to examine whether the diversification–performance nexus is conditioned upon bank experience and ownership structure.

Design/methodology/approach

The financial information of each bank were manually collected from bank annual reports. In the empirical model, a number of modern econometric techniques, including panel OLS with fixed effects and a two-step system GMM estimator, were utilised to achieve the research objectives.

Findings

The empirical results show that income diversification has a positive impact on banks’ performance. However, the effect varies across different types of banks. Specifically, the authors find that while diversification benefits state-owned and foreign banks, it exhibits a detrimental effect on the financial performance of other non-state owned domestic banks. In addition, the authors further find that the positive impact of diversification is more prominent for banks with more experience in the market.

Originality/value

This study is among the first to empirically investigate the relationships between income diversification and the financial performance of commercial banks in Vietnam. In this sense, the findings of this study could draw important inferences for researchers, policy makers and bank managers towards more appropriate diversification strategies, to ensure the safety and soundness of the whole banking system.

Details

Review of Behavioral Finance, vol. 12 no. 3
Type: Research Article
ISSN: 1940-5979

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Article
Publication date: 11 June 2020

Thinh Gia Hoang, Trang Kieu Vu, Ha Tuyet Nguyen and Hiep Ngoc Luu

This paper aims to enrich our understanding of whether mandatory IR adoption lures firm into misreporting or forces them to reduce it.

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Abstract

Purpose

This paper aims to enrich our understanding of whether mandatory IR adoption lures firm into misreporting or forces them to reduce it.

Design/methodology/approach

The empirical analysis is carried out based on the sample containing all publicly listed firms in South Africa. Many different rigorous econometric techniques are adopted to thoroughly evaluate whether corporate misreporting practices increase or decrease following the mandatory adoption of IR.

Findings

The empirical results reveal that mandatory IR disclosure results in a decline in the misreporting practices of firms. The authors further find that as firms increasingly comply with the IR guidelines, especially with the “Content Elements” and “Guiding Principles,” their misreporting levels decrease.

Research limitations/implications

This study has implications for a wide range of stakeholders, especially for regulatory authorities, international policymakers and regulators, as well as users of integrated reports of listed firms on the Johannesburg Stock Exchange (JSE).

Practical implications

Regulatory authorities should be aware of misreporting determinants to set adequate and fitting corporate reporting standards that restrict the opportunistic behaviour of managers and amend IR guidelines to make them more comprehensible for integrated report preparers, therefore improves the implementation of IR.

Social implications

This study sheds light on the current state and consequences of IR adoption in South Africa before and after the mandatory IR disclosure requirement, thus, international policymakers and regulators can refer to the critical aspects in our findings when considering whether to support IR mandatory adoption in their markets.

Originality/value

This paper sheds light on the emerging debate over the usefulness of IR and the necessity of mandatorily adopting this new reporting framework. In addition, by showing that the mandatory adoption of IR significantly reduces corporate misreporting practices, we also contribute to the literature on corporate misreporting behaviour.

Details

Journal of Applied Accounting Research, vol. 21 no. 3
Type: Research Article
ISSN: 0967-5426

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