• The Journal of Asian Finance, Economics and Business
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• 제8권12호
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• pp.337-343
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• 2021

The study's objective is to ascertain the state of the creative industry's market structure, the behavior of entrepreneurs ("conduct"), and the performance of the creative industry in Indonesia. Additionally, this study evaluates the relationship between structure, conduct, and performance within the context of the relationship between the three. This study analyzes longitudinal data from 2005 to 2015 for sub-sectors within the creative industry. The first step is to group statistical sub-sectors into creative-industry categories. The next step is to quantify and analyze the structure, behavior, and performance indicators of each creative industry subsector. Then, using a random effect panel data model, the relationship between structure and performance was estimated and examined. The findings of this study suggest that market share and concentration ratio calculations indicate that the creative industry in Indonesia has a monopolistic market structure. With this market framework, the creative industry's conduct can have an effect on prices. This is undoubtedly consistent with the features of the creative industry, which emphasize innovation as a means of adding value. The panel data estimation findings suggest the need for long-term efforts to maintain a market framework that enables businesses to compete fairly, innovate, and bring value.

• The Journal of Asian Finance, Economics and Business
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• 제8권10호
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• pp.77-85
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• 2021

This study aims to investigate the status quo and identify the challenges and benefits of the digital transformation in the context of small and medium-sized enterprises (SMEs) in Vietnam. The six participating SMEs were purposely contacted, and they were either nominated for, or received the Vietnam Digital Awards in 2018, 2019 and 2020, which were held by the Vietnam Digital Communication Association (http://en.vdca.org.vn/). A qualitative research method is adopted, using a semi-structured interview method and a theoretical triangulation of legitimacy, stakeholder and stewardship theories to facilitate the investigation. This research tries to identify the current challenges and benefits for digital transformation of SMEs in Vietnam, based on perception and experience from business leaders and managers from six SMEs in Vietnam. The findings of this study reveal that besides the recent challenges for digital transformation, participants also experienced and shared their perspectives regarding the benefits received from the digital transformation journey of their organization, which varied from (i) improve operational as well as business functions; (ii) liberate staffs and managers from daily work and allows them to focus on decision-making tasks; (iii) enable solutions to deal with consequences from the COVID-19 pandemic; (iv) enhance value creation process; and (v) help firms to align with the global business standards.

• The Journal of Asian Finance, Economics and Business
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• 제8권12호
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• pp.553-561
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• 2021

Health services in developing countries are increasingly focused on satisfying the needs of customers. During the COVID-19 pandemic, many patients have anxiety when going to hospitals for medical treatment. The pressures brought by the pandemic have overwhelmed the hospital system in Vietnam. This has caused the quality of service at these hospitals to decrease because they have focused on the goal of preventing the spread of the virus. Therefore, hospitals, especially private hospitals, need many solutions to improve the quality of their services. This study evaluated the impact of these factors on hospital service quality, as well as the influence of customer service quality on patient satisfaction. The survey was conducted from January 2021 to September 2021 and data was collected directly from 539 patients at Van Phuc Hospital 1. The results show that 4 factors affect the service quality of the hospital, as well as the service quality affecting patient satisfaction, in which, the strongest impact on the service quality of the hospital is the service attitude and professional capacity of the medical team. In the context of the COVID-19 epidemic, this study implies that if the hospital service is good, the customers' peace of mind and satisfaction will be enhanced.

• The Journal of Asian Finance, Economics and Business
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• 제8권12호
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• pp.253-260
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• 2021

In the context of economic integration and fierce competition, organizations are very concerned about customer orientation so as to build close relationships and ensure customer satisfaction and improve customer loyalty. In company strategy, customer relationship orientation is critical. Customer satisfaction and loyalty will improve if employees perform well in the customer-oriented process. The study's purpose is to examine the links between doctors' job happiness, customer orientation, customer satisfaction, and customer loyalty in international hospitals in Vietnam. In international hospitals, data was collected from 204 clinicians and 408 patients. By applying structural equation modeling. The study found that doctors' job satisfaction had a significant impact on customer orientation and satisfaction in international hospitals. Customer satisfaction may be improved with a good customer orientation. The doctors' job satisfaction and effective customer orientation improve customer satisfaction and loyalty towards international hospitals in Vietnam, thanks to the impact of spreading emotions. In particular, if doctors are satisfied with their jobs, it promotes customer satisfaction when using medical services at international hospitals. The study has proved the essential role of customer-oriented strategy and doctors' job satisfaction in customer satisfaction and loyalty towards international hospitals.

• The Journal of Asian Finance, Economics and Business
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• 제8권11호
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• pp.157-167
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• 2021

The study analyzes the factors affecting the intention and recommendation to use the mobile banking applications of 314 customers from Vietnam. The study analyzes 7 factors affecting the intention and recommendation to use the mobile banking applications of customers from Vietnam, including (i) Perceived risk; (ii) Perceived ease of use; (iii) Perceived usefulness; (iv) Attitude; (v) Perceived trust; (vi) Social image; and (vii) Innovativeness. Besides, the study also analyzes 4 variables that reflect the customer's demographics, including gender, age, education, and occupation, and 6 variables describing the behavior of customers using mobile banking applications. The study findings indicate that the following factors (i) Innovativeness; (ii) Attitude; (iii) Perceived risk; (iv) Perceived ease of use, and (v) Perceived trust have the most significant impact on customers' behavior of using mobile banking applications in emerging markets such as Vietnam in the context of prolonged pandemic and continuous lockdown in many provinces and cities. The study is also of great value to studies on behavior changes among customers using mobile banking applications after the COVID-19 pandemic in Vietnam. The study will provide additional empirical evidence useful to bank administrators in motivating customers to use mobile banking applications, helping develop a digital economy in Vietnam.

• The Journal of Asian Finance, Economics and Business
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• 제8권10호
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• pp.1-10
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• 2021

This paper attempts to investigate the determinants of capital structure of Vietnamese firms and also shed light on some of the factors of the modern theory of capital structure which is relevant for explaining the capital structure in advanced countries which are also relevant in the context of Vietnam. Using panel data from more than 1000 Vietnamese listed enterprises census 2017-2020, the paper finds that leverage ratio of Vietnamese firms is significantly related to probability. The firms have high level of fixed assets which they use as collateral, resulting in higher debt ratio, which is in line with the pecking order theory. The result also confirm that highly targeted debt ratio is positively correlated with the industry characteristics (using real estate firms as a benchmark), in which firm operates. Furthermore, consistent with the trade-off hypothesis, the leverage ratio is positively affected by non - debt tax shield. The result confirms that a large number of companies are state - owned, will have an insignificant impact of firm's size (as reverse proxy for bankruptcy cost) on leverage ratio. We also find that there is no distinction between state-owned enterprises and private enterprises due to strict adherence to the rules set by the Vietnamese government. Distinct from other countries, corporate income tax has slight impact on capital structure in Vietnamese firms.

• The Journal of Asian Finance, Economics and Business
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• 제8권10호
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• pp.29-35
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• 2021

The current study's objective isto determine the impact of organizational climate on organizational reputation in the context of organizational health as a mediating variable, in a case study of textile enterprises in Jordan that are listed on the Industrial Qualified zones. The study population contains (12) companies, according to the industrial qualified zones, with 317 employees who are working at CEO, deputy CEO, and supervisor positions chosen through convenience sampling. While the final sample of the current study consists of 174. Furthermore, to test the current study's hypotheses, the Smart Partial Least Square (PLS) technique was applied. Additionally, the current study concludes that there is a positive impact of organizational climate on organizational reputation. The current study shows that organizational climate has a positive impact on organizational health and organizational health has a positive impact on organizational reputation. Moreover, there is the mediation impact of organizational health on the relationship between organizational climate and organizational reputation. Based on the results of the current study, the study proposes that the level of organizational climate, organizational health, and organizational reputation in the examined companies be enhanced and increased.

• The Journal of Asian Finance, Economics and Business
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• 제8권11호
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• pp.1-10
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• 2021

This paper compares the performance of Fama-French three-factor and five-factor models using a dataset of 20 Pakistani commercial banks for the period 2011 to 2020. We focus on an emerging economy as the findings from earlier studies on developed countries cannot be generalized in emerging markets. For empirical analysis, twelve portfolios were developed based on size, market capitalization, investment strategy, and growth. Subsequently, we constructed five Fama-French factors namely, R_M, SMB, HML, RMW, and CMA. The OLS regression technique with robust standard errors was applied to compare the predictive power of both the Fama-French models. Further, we also compared the mean-variance efficiency of the Fama-French models through the GRS test. Our empirical analysis provides three unique and interesting findings. First, both asset pricing models have similar predictive power to explain the expected portfolio returns in most cases. Second, our results from the GRS test suggest that there is no noticeable difference in the mean-variance efficiency of one asset pricing model over the other. Third, we find that all factors of both Fama-French models are statistically significant and are important for explaining the volatility of expected commercial bank returns in the context of Pakistan.

• The Journal of Asian Finance, Economics and Business
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• 제8권12호
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• pp.169-181
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• 2021

The study aims to investigate the direct effects of business management practices in terms of financial, marketing, human resources, and logistics operations practices on sales revenue and profitability growth of freight forwarding businesses. A quantitative research design and partial least square-structural equation modeling were used to examine the direct effects of the exogenous and endogenous variables. The study reveals that financial, marketing, and human resources practices have a positive and significant effect on sales revenue growth. Furthermore, marketing and logistics operations have a positive and significant effect on profitability growth in the context of freight forwarding in the Philippines, particularly in its country's capital. As the current study only examines the direct effects of business management practices, other researchers may also want to consider identifying other variables as mediation and moderation to test other indirect effects on the financial performance of the business. The findings of the study can significantly benefit the freight industry to consider addressing other challenges or make use of the paper to further develop their strategies and practices to improve their financial performance.

• 동아시아경상학회지
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• 제9권3호
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• pp.1-13
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• 2021

Purpose - For many Vietnamese students, the national high school graduation examination is one of the most important exams in their lives, transitioning from high school to tertiary education. Considering that the national examination is exceptionally important for admission of higher education, failure of management system and educational inequalities lead to serious academic concerns. By using the concept of justice and motivation, the current study aimed to explore the effects of justice dimensions and motivation on student satisfaction in the context of education, specifically focusing on the national examination for higher education. Research design, data and methodology - In this regard, this study proposed a conceptual model and conducted an online survey to test relevant hypotheses. Result - The empirical findings of the study found that procedural, distributive justice, and intrinsic motivation affected the level of student satisfaction. The results found that distributive and procedural justice and intrinsic motivation showed significant on satisfaction. Conclusion - The results of this study would be useful for policymakers to make more informed choices and also suggest further programs and projects of the Vietnamese government, aiming to develop the system of university admissions in the future. This study suggests that adoption of better management system and policies will significantly affect academic satisfaction and higher education environment.