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This paper investigates how different types of corporate political connection, including government-linked investment (GLI), former officials as politically-connected directors (PCD), cronyism (CRO) and government leaders' family ties (FAM), influence financial distress risk in Malaysian firms.

We separate political connections into four distinct categories and investigate their relationship with firm distress risk and compare the results with the one-size-fits-all treatment which is popular in the literature. We apply a battery of sensitivity test to ensure that our inferences are robust to a wide range of test specifications, endogeneity concern and sample selection methods.

The empirical results show that the effect of political connections on distress risk is strongly heterogeneous. GLI and PCD firms tend to have higher distress risk via increased risk-taking behaviors because of the different incentives of the connections, while this nexus does not directly exhibit in CRO and FAM firms. Further analyses reveal that CRO and FAM firms are more likely to venture into risky international diversification, thus indirectly amplifying their distress risk.

Our findings are novel and provide practical implications for financial analysts, investors and portfolio managers operating in the capital markets.

Purpose: To explore emotional support, daily housework assistance, and economic support for older adults provided by the Vietnamese family within the context of the impacts of socio-economic, demographic, and other factors.

Methodology: (1) The researchers used data from censuses taken from 1989 to 2019; national surveys of Internal Migration, Labor and Employment and other topics; and recent large sample sociological surveys (2) adapted a modified Diamond Care Model (Ochiai, 2009) to analyze effects of the characteristics of older adults; and of the country’s laws, policies, and socio-economic changes, on the families’ caregiving activities supporting the older adults.

Findings: The family is still the most important institution providing care for older adults in Viet Nam. Most older people live with their children and see this as an age-old security solution despite differences related to lifestyles and interests. However, when the average number of working-age people per older person decreases, as older adults live longer, household sizes are smaller, and there is increased large migration, the demand for non-family caregiving for older adults will increase. Since social services to help meet this demand are limited, the traditional family support system for the elderly in Viet Nam will face many challenges as families try to assure the quality of care needed in the very near future.

Value: This chapter shows systematically a relationship between elderly care in the Vietnamese family and socio-economic, demographic, and associated factors based on comprehensive data sources. The results can help us think about how to create an appropriate future model for taking care of older adults in Viet Nam that combines the efforts of families and the support of comprehensive social policies by the community.

The purpose of this paper is to check the impact of female directors on the board and foreign institutional investors on earnings manipulation.

The data sample includes Chinese listed companies on the Shenzhen and Shanghai stock exchanges. The data are collected from China Stock Market and Accounting Research database covering the period from 2010 to 2017. The authors use a dynamic generalized method of moments in the study.

The findings show that the presence of female director on the board has a significant negative impact on both discretionary accruals and real earning management. However, the authors obtain different results for foreign institutional investor investors. This may be the result of myopia as the foreign institutional stockholders in Chinese companies are looking for quick profit encouraging management to manipulate earnings. the findings survive several robustness tests.

The authors expect the research results provide ample evidence about how female directors affects earnings manipulation, and also hope the research helps to understand how, in China, institutional ownership affects earnings manipulation.

One Commune One Product (OCOP) program, a rural economic development program in Vietnam, aims to empower local communities for sustainable social and economic welfare development, protect the environment and preserve tradition. This study aims to employ this program associated with tourism to support small family businesses in rural areas cost-effectively.

This study used the geographic location mapping method to design tourist routes that connect tourism resources with OCOP producers. A stakeholder approach was employed to identify suggested practical works that need to be implemented while developing this tourism initiative.

Four rural districts of Bac Giang Province, a northern province in Vietnam known as the place of various indigenous people live and traditional craft villages. Many cultural and historical tourist sites have been chosen as sample areas for this study. By using Google map, based on the Bac Giang Tourist Map and a list of recognized OCOP products in Bac Giang Province, main tourist sites (16 locations) and small family businesses (known as cooperatives and households) that have OCOP products (17 places) in the four districts have been identified. Four notable tourist routes have been formed to propose four thematic tours (two 1-day tours and two 2 days-1 night homestay tours). Suggestions for related stakeholders to ensure the sustainability of this initiative are provided.

This study is supposed to be a model of promoting small family businesses through OCOP programs and tourism activities in a sustainable way in Vietnam. The outcome of this study is in line with the stakeholder theory emphasizing the systematic connection of various stakeholders such as employees, suppliers, local communities, government agencies and others towards complex business sustainability. The results of the study cannot conclude the small family businesses in Vietnam because it adopts geographic location mapping alone. Moreover, this study focused on OCOP programs only. Future research can use other methods of primary data collection, especially from tourists' perspectives. Data triangulation can be done to explore and verify the tourist routes that have been formed according to the four thematic tours proposed. Future research could also compare hotels managed by family businesses with non-family businesses.

This study is supposed to be a model of promoting small family businesses through OCOP programs and tourism activities in a sustainable way in Vietnam.

In recent years, the development of metaheuristic algorithms for solving optimization problems within a reasonable timeframe has garnered significant attention from the global scientific community. In this work, a new metaheuristic algorithm inspired by the inflection mechanism of the avian influenza virus H5N1 in poultry and humans, taking into account its mutation mechanism, called H5N1.

This algorithm aims to explore optimal solutions for optimization problems by simulating the adaptive behavior and evolutionary process of the H5N1 virus, thereby enhancing the algorithm’s performance for all types of optimization problems. Additionally, a balanced stochastic probability mechanism derived from the infection probability is presented. Using this mechanism, the H5N1 algorithm can change its phrase, including exploitation and exploration phases. Two versions of H5N1, SH5N1 and MH5N1, are presented to solve single-objective optimization problems (SOPs) and multi-objective optimization problems (MOPs).

The performance of the algorithm is evaluated using a set of benchmark functions, including seven unimodal, six multimodal, ten fixed-dimension multimodal to solve SOPs, ZDT functions and CEC2009 has been used to demonstrate its superiority over other recent algorithms. Finally, six optimization engineering problems have been tested. The results obtained indicate that the proposed algorithm outperformed ten algorithms in SOPs and seven algorithms in MOPs.

The experimental findings demonstrate the outstanding convergence of the H5N1 algorithm and its ability to generate solutions of superior quality.

This study aims to investigate the association between corporate governance (CG) and the corporate social responsibility (CSR) information disclosure as well as the moderating role of state-ownership between CG and CSR disclosure.

To examine the relationship between CG and CSR disclosure, this study used the feasible general least squares and generalized method of moments method on a sample of 165 non-financial quoted companies over the 2015–2018 period, which account for about three-fourths of the Vietnamese stock exchange.

The findings suggest that enterprises with smaller board size consisting mainly of independent directors have a higher CSR disclosure level. Moreover, when the chief executive officer is concurrently the chairman of the board, the level of CSR disclosure falls. Additionally, the moderating role of state ownership enhances CSR disclosure.

The empirical results of this study form a solid foundation for policymakers and other stakeholders’ decisions in investing or establishing policies.

This study provides empirical evidence on the relationship between CG and CSR disclosure in Vietnam – a developing country with no legal requirement on CSR disclosure. Moreover, this study emphasizes the moderating role of state ownership between CG and CSR disclosure, which clarifies the role of state ownership in establishing CG mechanisms.

This paper presents and investigates a method named M×N‐ary chaotic pulse‐width‐position modulation (CPWPM) which is based on the combination of M‐ary chaotic pulse‐position modulation (CPPM) and N‐ary chaotic pulse‐width modulation (CPWM) in order to provide a better performance in noise‐affected environments as well as improve significantly bit rate.

Analysis of schemes for modulator and demodulator are presented in detail through describing the schemes of the individual methods and their combination. Theoretical evaluation of bit‐error rate (BER) performance in presence of additive white Gaussian noise (AWGN) is provided. Chaotic behavior with tent map in variation of modulation parameters is also investigated. In order to verify the theoretical analyses, numerical simulations are carried out and their results are reported.

Both evaluation and simulation results show that when the number of symbols increases, the bit rate is improved significantly but the BER performance is just slightly worse. This makes M×N‐ary CPWPM become an effective method for chaos‐based digital communication.

Although CPPM, CPWM and M‐ary modulation methods have been described in the literature separately, their combination is presented and investigated for the first time in this paper.