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…
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.
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Huong Bui, Long Hong Pham, Ngoc Pham, Phuong Anh Dang, Quynh Bui, Dung Nguyen, Thuy T. Duong, Chung Nguyen and Hiroaki Saito
Vietnam has repositioned itself from a war-torn country to a popular tourist destination. Although research on Vietnam tourism has grown in number, a macro analysis of national…
Abstract
Purpose
Vietnam has repositioned itself from a war-torn country to a popular tourist destination. Although research on Vietnam tourism has grown in number, a macro analysis of national tourism governance and policies has largely been missing.
Design/methodology/approach
This synthesis paper offers a systemic analysis of Vietnam’s tourism accommodating intensified government intervention and dramatic market changes in recent decades. The authors offer a chronological analysis of tourism development along with the major political and economic turns of the country.
Findings
The patterns of tourism development reflect a compromise between centralization and decentralization of the governance system and a trade-off between economic and social objectives of development. Balancing these opposites, the internal strength of the domestic market and the resilience of communities and businesses become key assets for growth in circumstances where the socialist market economy continues to inform the current and future development of the industry.
Research limitations/implications
Although the case of Vietnam is unique, the adaptive mechanism of the tourism industry highlighted in this paper offers a useful lesson for other developing countries. The research addresses tourism in the political economy in developing countries, which is valuable for researchers, policy analysts as well as practitioners in tourism.
Practical implications
The practical contribution of the study is derived from authors’ academic and industrial backgrounds. Findings from the study serve as a useful reference for those who embark on the study of tourism governance and policy-making in developing countries and problems associated with the economic transitional process. Those problems of the disparity between centralization and decentralization of the political system might not be only significant in Vietnam, but also prevail in developing countries. Thus, this study offers a point of departure for future empirical and comparative research on the kindship of tourism and political economy in a full scale.
Social implications
The transitional economy as viewed through the tourism industry is prominently presented in the “evolutionary” approach to the transitional economy, which exhibits several unique features: the transition from a centrally planned (command) economy to a market economy and the manifestations of a socialist orientation in the modern economic management system (Vuong et al., 2019). While data from this study is mainly illustrative of the first point, the transition from a planned economy to a market economy, the second characteristic, the manifestation of a social orientation has only slightly been addressed and will need further elaboration in a future study. While Vietnam’s tourism positions itself in a socialist market-oriented economy might set a unique case, the study highlights the politics of tourism is shaped by the politico-economic system. The authors conclude that the adaptation of Vietnam tourism to a socialist market-orientated economy is better perceived as a social evolution achievement rather than a feature of capitalism.
Originality/value
The latest study on tourism governance (Bui et al., 2022) has outlined the evolution of the tourism administrative system and markets in the country; however, linkages of tourism to the broader political economic system have yet to be addressed. Addressing this gap, the authors carry out analysis of policies and governance from the insider’s viewpoint, when team members have been involved in numerous tourism planning and development projects, both on international and national scales. The practical experience along with thorough review of literature and statistical data contributes to shaping a fresh understanding of tourism in a transitional economy.
设计/方法论/途径
这篇综述对越南旅游业进行了系统分析, 包括近几十年来不断增强的政府干预以及巨大的市场变化。作者根据时间顺序分析了旅游业的发展以及该国的主要政治及经济的转变。此外, 政策文件的内容分析及旅游市场分析进一步说明了政治经济体系对旅游治理及政策的影响。
目的
越南已将自己从一个饱受战争的国家重新定位成备受欢迎的旅游目的地。尽管对越南旅游业的研究不断增多, 但对国家旅游治理和政策的宏观分析却被之前的探究所忽略。此研究通过展示越南转型经济中的旅游治理模式连接了两个学科, 并且丰富了政治经济学和旅游学的文献。
研究结果
旅游政策和市场分析反应了治理体系集权与分权之间的折中以及经济和社会发展目标之间的权衡。国内市场的内在优势以及社区及企业的韧性可以成为成长的关键资产来平衡这些对立面, 同时社会主义市场经济将继续影响产业的当前及未来的发展。因此我们的结论是, 越南旅游业适应社会主义市场经济应该被视为社会进化的成就, 而不是资本主义的特征。
研究局限/应用
考虑到一篇文章所能解决的问题有限, 作者无法就转型经济与中国进行比较研究。我们的研究为未来亚洲旅游与政治经济之间联系的实证和比较研究提供了一个出发点。
实践意义
研究结果为发展中国家旅游治理和政策制定研究提供了有益的参考。
社会影响
研究结果对于发展中国家旅游治理及政策制定研究具有重要参考意义。这项研究的成果对于发展中国家的旅游政策分析师, 特别是亚洲的研究人员来说很有价值。
原创性/价值
当前的研究弥补了政治经济学中的一个研究不足, 即马克思主义学说及其与旅游业的对话。知识转移是本研究的一个亮点, 它源自对国家政治经济议程中的旅游治理的批判性分析。
Objetivo
Vietnam ha pasado de ser un país devastado por la guerra a convertirse en un popular destino turístico. Aunque la investigación sobre el turismo en Vietnam ha crecido en número, ha faltado en gran medida un macroanálisis de la gobernanza y las políticas turísticas nacionales. Nuestra investigación ha enriquecido la literatura tanto de la economía política como del turismo tendiendo un puente entre ambas disciplinas al presentar las pautas de la gobernanza del turismo en la economía de transición de Vietnam.
Diseño/metodología/enfoque
Este documento de síntesis ofrece un análisis sistemático del turismo de Vietnam que abarca la intensificación de la intervención gubernamental y los drásticos cambios del mercado en las últimas décadas. Los autores ofrecen un análisis cronológico del desarrollo del turismo junto con los principales giros políticos y económicos del país. Además, el análisis del contenido de los documentos políticos y el análisis del mercado turístico ilustran mejor las repercusiones de los sistemas político-económicos en la gobernanza y las políticas turísticas.
Resultados
Las políticas turísticas y el análisis del mercado revelan un compromiso entre la centralización y la descentralización del sistema de gobernanza y un compromiso entre los objetivos económicos y sociales del desarrollo. Al equilibrar estos opuestos, la fuerza interna del mercado nacional y la resistencia de las comunidades y las empresas se convierten en activos clave para el crecimiento en unas circunstancias en las que la economía de mercado socialista sigue informando el desarrollo actual y futuro de la industria. Concluimos que la adaptación del turismo vietnamita a una economía socialista orientada al mercado se percibe mejor como un logro de la evolución social que como una característica del capitalismo.
Limitaciones/implicaciones de la investigación
Dentro del limitado abanico de cuestiones que podrían abordarse en un solo artículo, los autores no pueden establecer un estudio comparativo con China, en lo que respecta a la economía de transición. Nuestro estudio ofrece un punto de partida para futuras investigaciones empíricas y comparativas sobre la conexión entre turismo y economía política en Asia.
Implicaciones prácticas
Las conclusiones del estudio sirven de referencia útil para quienes se embarcan en el estudio de la gobernanza y la formulación de políticas turísticas en los países en desarrollo.
Implicaciones sociales
Los resultados de la investigación son valiosos para los investigadores del sudeste asiático en particular y para los analistas de la política turística del mundo en desarrollo en general.
Originalidad/valor
La presente investigación contribuye a un área poco investigada de la economía política, a saber, la doctrina marxista y su diálogo con el turismo. La transferencia de conocimientos es un aspecto destacado de esta investigación, que se ha derivado de un análisis crítico de la gobernanza del turismo en la agenda económica política nacional.
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Quynh Nguyen, Adele Ladkin and Hanaa Osman
Drawing from emotional labour (EL) and emotion regulation (ER) theories, this paper aims to identifiy what helps and what hinders the emotional intelligence (EI) practice of…
Abstract
Purpose
Drawing from emotional labour (EL) and emotion regulation (ER) theories, this paper aims to identifiy what helps and what hinders the emotional intelligence (EI) practice of Vietnamese hotel workers. Researching EI qualitatively from a novel context highlights the influence of culture on EI.
Design/methodology/approach
The critical incident technique (CIT) was adopted as the qualitative methodological approach using a self-administered form and semi-structured interviews to collect empirical data from a sample of 34 Vietnamese hotel workers in 19 different hotels.
Findings
The findings show that following Joseph and Newman’s (2010) cascading model of EI would help hotel workers in their practice. The research also found different factors hindering the EI practice from the individual and organisational levels. Vietnamese culture was believed to guide deep-acting and meditation. Language barrier and manager support emerged as significant factors that could help or hinder their EI practice.
Research limitations/implications
The research proposes a conceptual framework addressing the factors that could help or hinder the EI practice and provides implications for HR practices and management. Caution could be taken when applying the research implications because of the small sample as a nature of qualitative research.
Originality/value
To the best of the authors’ knowledge, this is the first attempt to appraise the EI practice adopting the CIT as a qualitative methodological approach in an under-research context and add evidence to the theoretical links between EI, EL and ER.
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Le Thanh Ha, Thanh Trung To, Nguyen Thi Thanh Huyen, Ha Quynh Hoa and Tran Anh Ngoc
This study aims to analyze the effects of e-government on corruption prevalence by using a sample of 29 European countries over the period 2012–2019.
Abstract
Purpose
This study aims to analyze the effects of e-government on corruption prevalence by using a sample of 29 European countries over the period 2012–2019.
Design/methodology/approach
This paper uses the panel corrected standard errors (PCSE) model to mitigate the problems of cross-sectional dependence. The PCSE model is also considered to reexamine the findings when the presence of heteroscedasticity, fixed effects and endogeneity issues are taken into account. The theoretical model incorporates one-year-lagged explanatory variables to deal with endogeneity. The autoregressive distributed lag method using the dynamic fixed effects estimator is chosen to deal with the time and country-fixed effects in the effort to measure the short- and long-run effects of e-government more precisely.
Findings
The results indicate that e-government plays a critical role in improving the population’s perception of corruption. Furthermore, e-government appears to have an effect in the short run. Notably, the estimation results show that there is a nonlinear relationship between e-government, especially user centricity and key enablers and the corruption perception index in the U-shaped curve.
Practical implications
The short-run and nonlinear effects of e-government on corruption prevalence suggest that the fight against corruption requires countries to pursue a consistent and continuous improvement and development of the e-government system.
Originality/value
The authors contribute to the literature by providing a consistent and precise answer to this relationship in the case of European countries. Another contribution of the work is to use diverse indicators to reflect e-government in a typical country, which helps us confirm the reliability and robustness of the findings.
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Nguyen Vinh Khuong, Mai Quynh Anh, Mai Thi Thanh Thao, Tran Thanh Thao, Nguyen Hong Hanh and Le Thi Hoai Vy
This study seeks to evaluate gender diversity within family members and analyze its effects on financial distress in firms listed in Vietnam.
Abstract
Purpose
This study seeks to evaluate gender diversity within family members and analyze its effects on financial distress in firms listed in Vietnam.
Design/methodology/approach
The research employs a Generalized Method of Moments (GMM) regression model to assess the impact of gender diversity on corporate board performance, including factors such as the presence and proportion of female directors, female directors with family ties and the gender of CEOs. The study covers 152 listed companies on the HNX and HOSE exchanges from 2015 to 2022. The GMM model is chosen for its robustness in dealing with endogeneity issues and its ability to provide consistent estimates in the presence of potential correlation between explanatory variables and unobserved effects. This approach allows for a more accurate evaluation of how gender diversity influences operational efficiency and how these companies manage financial difficulties within the sample period.
Findings
Our research shows that diversity on the Board of Directors (BOD) as well as female CEO employment not only does not reduce the financial distress of businesses but also increases this situation. However, being both a female and a family member of the BOD is negatively related to financial distress. This can help female members who have connections with the family contribute to the work of adjusting and monitoring the business's operations to suit the family's goals, contributing to improving the operational efficiency of the business. BOD maximizes profits and contributes to promoting the company's sustainable development goals. From there, limited ability to travel and financial exhaustion.
Practical implications
The empirical results obtained from this study contribute to building a solid knowledge base, supporting businesses in the policymaking process and providing empirical evidence to enrich learning materials.
Originality/value
This study provides empirical evidence on how gender diversity influences the financial challenges of businesses, especially within the context of publicly listed companies in Vietnam. It stands out from previous literature by specifically focusing on listed companies in Vietnam. By analyzing the impact of gender diversity on financial difficulties, this study also clarifies how various factors can influence management and business development.
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Le Thi Hong Na and Jin-Ho Park
Among others in South Vietnam, the Temple of Literature in Vinh Long is the only one that has preserved its original form and layout. As such in 1991, the temple was recognized by…
Abstract
Purpose
Among others in South Vietnam, the Temple of Literature in Vinh Long is the only one that has preserved its original form and layout. As such in 1991, the temple was recognized by the Ministry of Culture as a national-level historical and cultural relic. Nevertheless, the temple has been neither studied nor documented to any great depth. Only a few historical descriptions for local tour guidebooks and photo catalogs exist. Therefore this paper aims to initially record heritage values, spatial characteristics and the process of major changes, while documenting the current state of the temple structure and carrying out on-site inspections to survey the buildings.
Design/methodology/approach
This paper outlines the collection of survey data through field survey and provides an overview of the existing significant heritage factors of the Temple of Literature in Vinh Long by comparative examination in relation to other surviving temples and analyzing its unique spatial characteristics and indigenous cultural decorations in detail.
Findings
Although the layout of the temples was influenced by the Chinese Confucius's principles and the notion of Feng Shui, it is evident from the study that the design of the temple has many architectural elements that reveal Vietnam's unique culture and local features. In particular, the Temple of Literature in Vinh Long was a symbol of feudal education, symbolizing sacred traditional values in the field of education for the people of Vinh Long province. Stone steles recorded names of all contributors related to the construction and restoration of the temple with sincere gratitude. Moreover, many of the decorative motifs contain many indigenous cultural and artistic values of Vietnam, reflecting traditional Vietnamese beliefs and ethnographic features.
Research limitations/implications
By comparatively analyzing the temple with others, it reveals the unique spatial features, layouts, changes and evolutions of the temple. Unlike the oldest and the largest Temple of Literature in Hanoi, the temples in the South are much smaller in terms of complex sizes and the number of buildings. They are mostly composed of a singular structure, the Attained Talent House, with some basic gates and water features interwoven within the landscape of the site. Based on the elementary layout, some subsidiary buildings were added according to the needs and site conditions, and in accordance with the bilateral axis.
Social implications
The awareness and preservation of the architectural features of the local temple are needed to protect heritage monuments and to enhance cultural resources as part of securing Vietnamese ideology for a longer period of time. While the interest in historic preservation and conservation activities of heritage buildings in Vietnam has slowly grown in attention over the last decade, it is evident that many opportunities remain. It is hoped that this research is a small step toward further research, education and advocacy in the preservation of historic buildings in Vietnam.
Originality/value
The introduction of Chinese Confucian thought to Vietnam was one of the most substantial influences in Vietnamese intellectual history. Despite being an important part of the nation's architectural, cultural and intellectual heritage sites, the study and documentation of the Temples of Literature have been relatively neglected or marginalized. Accordingly, this study is significant to reveal not only the values and unique heritage characteristics of the temple, but also to prioritize resources for continued study and preservation.
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Nguyen Thi Ngoc Ha, Eva Dakich and Susan Grieshaber
This article explores factors influencing the participation of industry professionals in Work-Integrated Learning (WIL) in three Vietnamese public universities. The impact of the…
Abstract
Purpose
This article explores factors influencing the participation of industry professionals in Work-Integrated Learning (WIL) in three Vietnamese public universities. The impact of the unique socio-cultural background of Vietnam on WIL is also addressed.
Design/methodology/approach
A qualitative approach that included three focus groups and 15 individual in-depth interviews was applied. In total, 30 key university and industry WIL stakeholders were involved. Thematic analysis was employed to identify enablers and inhibitors to the participation of industry professionals in WIL in Vietnamese universities.
Findings
Industry professionals faced more challenges than support when involved in WIL in three Vietnamese public universities. Four enablers of their participation in WIL stemmed from industry and nine inhibitors emerged from a variety of sources. The overwhelming number of inhibiting factors indicated difficulties associated with implementing WIL.
Originality/value
The rationale behind limited industry involvement in Vietnamese universities has not been explored previously. A holistic understanding of all key WIL stakeholders’ perceptions of factors influencing industry participation in a non-Western tertiary context may provide leads for higher education policy in Vietnam and add to the international literature.