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Article
Publication date: 23 July 2020

Richard Lu, Vu Tran Hoang and Wing-Keung Wong

The literature has demonstrated that lump-sum (LS) outperforms dollar-cost averaging (DCA) in uptrend markets while DCA outperforms LS only when the asset price is mean-reverted…

522

Abstract

Purpose

The literature has demonstrated that lump-sum (LS) outperforms dollar-cost averaging (DCA) in uptrend markets while DCA outperforms LS only when the asset price is mean-reverted or downtrend. To bridge the gap in the literature, this study aims to use both Sharpe ratio (SR) and economic performance measure (EPM) to compare the performance of DCA and LS under both accumulative and disaccumulative approaches when the asset price is simulated to be uptrend.

Design/methodology/approach

This study uses both disaccumulative and accumulative approaches to compare DCA with LS and uses both SR and EPM to evaluate their performance when the asset price is simulated to be uptrend. Instead of using the annualized returns that are commonly used by other DCA studies, we compute the holding-period returns in the comparison in this paper.

Findings

The simulation shows that no matter which approach is used, DCA outperforms LS in nearly all the cases in the less uptrend markets while DCA still performs better than LS in many cases of the uptrend markets, especially when the market is more volatile and investment horizon is long, regardless which approach the authors used. The authors also find more evidence supporting DCA over LS by using EPM, which is more suitable in the analysis because the returns generated by DCA are positive skewed and flat-tailed that are ignored when SR is used.

Research limitations/implications

The authors conclude that DCA is a better trading strategy than LS for investment even in the uptrend market, especially on high risky assets.

Practical implications

Investors could consider choosing DCA instead of LS as their trading strategy, especially when they prefer long term investment and investing in high-risk assets.

Social implications

Fund managers could consider recommending DCA to their customers, especially when they prefer long term investment and investing in high-risk assets.

Originality/value

This is the own study and, as far as the authors know, this is the first study in the literature uses both SR and EPM to compare the performance of DCA and LS under both accumulative and disaccumulative approaches when the asset price is simulated to be uptrend.

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Article
Publication date: 23 January 2025

Tuan Duong Vu, Phuong Thao Vu, Thi Hoang Ha Tran and Thu Ha Nguyen

This study aims to evaluate the impact of several factors on the continuance participation intention of service providers in the sharing economy business model, i.e. food delivery…

12

Abstract

Purpose

This study aims to evaluate the impact of several factors on the continuance participation intention of service providers in the sharing economy business model, i.e. food delivery application (FDA) service.

Design/methodology/approach

Based on primary data collected from 282 service providers, this study used partial least squares structural equation modeling (PLS-SEM) to validate measurement scales and the proposed model.

Findings

The SEM analysis revealed that service providers’ intention to continue participating was influenced by perceived social benefit, perceived economic benefit and the corporate image of the service enabler. Notably, the relationship between perceived social benefit and continuance participation intention is moderated by the service enabler’s corporate image. Furthermore, this study identified four antecedents that impact on perceived benefit of service providers, namely, market attractiveness, and marketing capabilities of service enabler, delivery quality and customers’ positive affective response. However, the effect of marketing capabilities of the service enabler on perceived economic benefit was found to be irrelevant.

Originality/value

This study enriches the authors’ understanding of the factors that promote service providers’ intention to continue participating in the sharing economy business model, particularly within the context of FDAs. Based on the findings, the study offers both theoretical and practical implications for service enablers, policymakers and technology providers to enhance stakeholder engagement in the sharing economy business model.

Details

Journal of Asia Business Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1558-7894

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Article
Publication date: 24 July 2024

Hien Ngoc Nguyen, Hoang Ngan Vu, Huy Viet Hoang and Phuong Tran Huy

This study aims to examine the relationship between corporate social responsibility (CSR) and worker turnover rate (WTR) and worker turnover cost (WTC) in Vietnamese garment…

239

Abstract

Purpose

This study aims to examine the relationship between corporate social responsibility (CSR) and worker turnover rate (WTR) and worker turnover cost (WTC) in Vietnamese garment companies, using the mediating role of symbolic image dimensions (SID) of employer image and the moderating role of unemployment rate.

Design/methodology/approach

This study uses Signaling Theory and Job Embeddedness Theory as theoretical frameworks to examine the mediating role of SID and the moderating role of the unemployment rate on the link between CSR and WTR, as well as the associated cost. Data from 119 Vietnamese garment companies are analyzed using structural equation modeling – AMOS software.

Findings

The findings suggest that CSR has a direct adverse effect on the WTR and an indirect effect on WTC through WTR. The results also indicate a direct relationship between the level of CSR adopted by companies and workers’ perception of the symbolic attributes of their company’s employer image as sincere, innovative, competent and prestigious. This, in turn, leads to a reduced rate of worker turnover. In addition, this study discovers the moderating influence of the region’s unemployment rate on the correlation between companies’ CSR and WTR.

Practical implications

The results indicate that companies should view CSR as a strategic tool to obtain better performance by achieving a win-win state of affairs with their workers. It also implies the influence of external economic factors on the relationship between CSR and worker turnover.

Originality/value

This study contributes to the literature by highlighting the economic benefits of CSR and the SID.

Details

Social Responsibility Journal, vol. 20 no. 10
Type: Research Article
ISSN: 1747-1117

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Article
Publication date: 26 February 2021

Khanh Hoang, Long Phi Tran, Van Thuy Vu and Minh Duy Vu

This paper aims to investigate the nonlinear relationship between corporate social performance (CSP) and economic policy uncertainty (EPU).

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Abstract

Purpose

This paper aims to investigate the nonlinear relationship between corporate social performance (CSP) and economic policy uncertainty (EPU).

Design/methodology/approach

This paper uses panel regression techniques to examine a sample consisting of UK-listed non-financial companies during 2000–2018.

Findings

The authors found that EPU increases corporate social responsibility which suggests that firms become more socially proactive during the period of heightened EPU. Such countermeasure enhances CSP and is likely a part of a competitive strategy and an insurance mechanism to protect firms against uncertainty in long-term. Further analysis shows a nonlinear relationship between the two factors, suggesting that in a heightened uncertain business environment, the insurance benefit generated by CSP is neutralised by the corresponding cost and, therefore, the positive relationship between EPU and CSP reverses.

Originality/value

This paper is the first to find a nonlinear relationship between CSP and EPU, indicating that too much uncertainty in macroeconomic policies deteriorates the benefits of CSP to the point that the CSP – EPU relationship becomes negative. The results suggest that policy uncertainty has both the bright side and the dark side where too many cooks eventually spoil the broth.

Details

Journal of Financial Economic Policy, vol. 14 no. 1
Type: Research Article
ISSN: 1757-6385

Keywords

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Book part
Publication date: 1 September 2022

Thiện Nguyễn Hoàng

This chapter provides information on the development of Vietnamese education under the influence of global forces based on the analysis of relevant education research and policies

Abstract

This chapter provides information on the development of Vietnamese education under the influence of global forces based on the analysis of relevant education research and policies using Wolhuter’s frameworks. In the process of coming up with ways to develop education in the face of different influences of globalization, besides having reactions with patterns commonly found in countries around the world, Vietnam also has responses that reflect its own political, sociocultural and economic characteristics. The state still plays a controlling role in education at all levels and many culture-related features that have existed throughout the country’s history have hardly changed, namely aspects related to teachers, learners and teaching and learning methods. To sustain its education in the globalized era, Vietnam must make more efforts in various aspects such as the link between education and employment, the logic of education objectives, the feasibility and appropriateness of curricula, quality of education, especially of higher education and equality in education for underprivileged groups.

Details

World Education Patterns in the Global South: The Ebb of Global Forces and the Flow of Contextual Imperatives
Type: Book
ISBN: 978-1-80382-681-3

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Article
Publication date: 24 October 2024

Phuong Minh Luong, Ly Thi Tran, Huyen Thanh Nguyen, Yen Thi Hai Tran, Giang Hoang Dang and Toan Van Vu

This article reviews the intercultural adaptability (IA) development models for students in South Korea and China in response to the growing internationalisation of higher…

84

Abstract

Purpose

This article reviews the intercultural adaptability (IA) development models for students in South Korea and China in response to the growing internationalisation of higher education. The article provides significant implications for Confucian heritage culture (CHC) countries and others that wish to enhance in higher education.

Design/methodology/approach

This scoping review systematically investigates the literature on different IA development strategies for students in higher education across these two Asian countries.

Findings

South Korea has promoted the self-growth model reflected in internationalised programmes such as English as a Medium of Instruction (EMI), an international learning environment with an increasing number of international students and student exchange programmes. Through these initiatives, domestic students’ identity and intercultural learning dynamics are enriched in an intercultural learning environment. Meanwhile, China has adopted the “Outward-oriented” higher education internationalisation model to attract international students to study in Chinese universities and entice Chinese returnees through its International Talent Training Programmes. In this strategy, international students are exposed to Chinese language and cultural knowledge development programmes, and Chinese students are motivated to learn the English language and cultures through interactions with their international peers.

Originality/value

Student IA development models in CHC countries remain underexplored. This article responds to the need of higher education institutions in Asian countries that wish to access and learn from effective IA models from other CHC countries. The study makes a valuable contribution by putting forward significant recommendations for developing students’ IA in CHC countries.

Details

Higher Education, Skills and Work-Based Learning, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2042-3896

Keywords

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Article
Publication date: 14 October 2024

Nguyen Vinh Khuong, Doan Thi Ngoc Anh, Pham Minh Nhu, Tai Vu Tran Trong, Nguyen Thi Kieu Trang and Dang Hoang Kha Thy

This study aims to examine the relationship between key audit matters (KAMs) and the restatement of financial statements, assessing their impact on the financial statement…

156

Abstract

Purpose

This study aims to examine the relationship between key audit matters (KAMs) and the restatement of financial statements, assessing their impact on the financial statement restatement process.

Design/methodology/approach

This study aims to examine the economic context of Vietnam by analyzing data from 170 listed enterprises on the Vietnam stock exchange from 2010–2021. Feasible generalized least squares and robustness regression are conducted to give results and conclusions.

Findings

The results show that the KAMs disclosure in the financial statements has not really significantly affected the quality of an audit, so the KAMs disclosure does not have too much impact on the restatement of financial statements. However, this study found that the number of disclosed KAMs would partly reflect the shortcoming that exists in companies' financial statements.

Practical implications

The authenticity of financial statements is crucial for companies to meet auditor requirements, particularly KAMs. Restatements can influence business decisions and provide more accurate financial information to stakeholders. Thus, studying the impact of KAMs on restatement is essential for improving the veracity and reliability of financial statements.

Originality/value

This study clarifies the important role of KAMs in financial statements to recommend investors to be more careful in considering KAMs disclosed by auditors in audit reports. In addition, this study helps to add an overview of KAMs in emerging markets like Vietnam, as well as helps stakeholders to improve the legal system on Accounting – Auditing in Vietnam.

Details

Journal of Financial Reporting and Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-2517

Keywords

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Article
Publication date: 6 February 2025

Phuong Tran Huy

Moonlighting has become more popular today in many fields such as IT, healthcare and education. This research investigates the direct association between high-performance work…

57

Abstract

Purpose

Moonlighting has become more popular today in many fields such as IT, healthcare and education. This research investigates the direct association between high-performance work system (HPWS) and employee moonlighting (EM) and the mediating effect of perceived employability (PE) in the above relationship. Moreover, the personal value of self-direction is included as a moderator between PE and moonlighting.

Design/methodology/approach

This research follows a quantitative design. An online questionnaire survey is used to collect data. Data from 456 Vietnamese employees were analyzed with partial least square-structural equation modelling (PLS-SEM) technique.

Findings

HPWS is directly linked with EM. Perceived external employability fully mediates the above relationship. In addition, the personal value of self-direction intensifies the positive relationship between PE and EM.

Research limitations/implications

The research suggests that HPWS can exert its influence on EM via both the universal and the critical pathways. Employees who perceive they have the ability to perform well in other jobs may decide to moonlight. Also, employees who find their jobs insecure under the coverage of HPWS may engage in moonlighting for security reasons. The implementation improves the employees’ PE which may encourage them to hold more jobs. In addition, attention should be paid to the personal value of the employees.

Originality/value

This study offers new insight into the HPWS and EM literature because it suggests that management practices can significantly influence EM, in addition to financial and security factors. Moreover, this study explores the indirect impact of PE in the HPWS–EM linkage. Finally, the moderation role of self-direction value represents a novelty.

Details

Employee Relations: The International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0142-5455

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Article
Publication date: 21 February 2020

Giang Hoang, Elisabeth Wilson-Evered and Leonie Lockstone-Binney

Innovation is ever more critical for sustainable business performance in the contemporary, global economic and social context. Small- and medium-sized enterprises (SMEs) are…

2711

Abstract

Purpose

Innovation is ever more critical for sustainable business performance in the contemporary, global economic and social context. Small- and medium-sized enterprises (SMEs) are arguably well positioned to innovate through their potential for rapid adjustment. Although leadership and organizational climate have been identified as playing a key role in innovation, little is known about whether such influences play out in SMEs. The aim of this study is to explore how leaders shape the organizational climate of their firms to enhance innovation.

Design/methodology/approach

The article presents findings from semi-structured interviews conducted with 20 CEOs of SMEs in the Vietnamese tourism sector.

Findings

The findings indicate that SME leaders in the tourism sector influenced an organizational climate that provided for autonomy and supported innovation through a number of leadership approaches. They also used daily interaction-based practices to drive the innovative behaviors of employees and developed reward systems to encourage innovation in their organizations.

Research limitations/implications

This study explored leaders' approaches toward developing an organizational climate to stimulate innovation in tourism SMEs. Where leaders share frequent communication and knowledge with their subordinates, they perceive a climate for innovation developments, which stimulates innovation in tourism SMEs.

Practical implications

The study provides implications for managers to improve creativity and innovation in firms through the development of reward and incentive systems along with leadership and team development programs.

Originality/value

This study describes how different leader approaches affect innovation through orientating the organizational climate and business processes within their firms toward encouraging staff to initiate and try out new ideas.

Details

Employee Relations: The International Journal, vol. 43 no. 2
Type: Research Article
ISSN: 0142-5455

Keywords

Available. Open Access. Open Access
Article
Publication date: 29 October 2024

Quoc Dung Ngo, Thi Van Hoa Tran and Vu Hiep Hoang

This study introduces an innovative approach to long-term economic forecasting by integrating anticipatory governance (AG) and causal layered analysis methodologies. Focussing on…

163

Abstract

Purpose

This study introduces an innovative approach to long-term economic forecasting by integrating anticipatory governance (AG) and causal layered analysis methodologies. Focussing on emerging economies, with Vietnam as a case study, we explore potential economic trajectories to 2050.

Design/methodology/approach

The research employs a mixed-method approach, combining quantitative economic projections with qualitative scenario building and analysis.

Findings

Our findings reveal four distinct future scenarios, ranging from low growth to transformative change. The preferred scenario, characterized by adaptive change, projects a Gross National Income (GNI) per capita of $30,684 by 2050, with significant reductions in agricultural labour and improvements in human development indicators.

Originality/value

This study contributes to theoretical and practical domains by demonstrating the value of integrated foresight methodologies in economic planning. It offers policymakers a comprehensive framework for navigating complex, long-term economic challenges and opportunities. This research underscores the importance of adaptive governance and systemic thinking in achieving sustainable, inclusive economic growth in an increasingly uncertain global environment.

Details

Journal of Economics and Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1859-0020

Keywords

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