• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.1033-1039
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• 2020

Vietnam is conducting an export-led growth model and labour-intensive industries contributing majorly to the total export value. In the context of Industry 4.0, the labour-based industries are significantly affected; hence, enhancing productivity is the key measure to maintain these industries. The garment industry contributes significantly to the total export value of Vietnam. Based on meta-frontier framework, the approach of data envelopment analysis is used to measure technical efficiency of Vietnamese garment firms and the global Malmquist TFP index is utilised to identify productivity change and its components including efficiency, technology and technical gaps between different groups of firms. The data of Vietnamese garment firms from 2013 to 2018 collected from the Vietnam General Statistic Office is used in this study. The results show that: (i) The total factor productivity of Vietnamese garment firms growth, technical progress is the main contributor; (ii) The private garment sector is the leading group; (iii) There is a large technological gap among Vietnamese garment sectors. The private and FDI garment firms have experienced a growth in all components of total factor productivity change. Meanwhile, technological progress change is the main reason to constrain the productivity growth of state-owned garment firms.

• The Journal of Asian Finance, Economics and Business
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• 제7권7호
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• pp.391-401
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• 2020

The objective of this study is to prioritize the Total Quality Management (TQM) factors based on fuzzy Analytical Hierarchy Process (AHP) method in Vietnamese supporting industries. Through an in-depth literature review, eight criteria were identified. These criteria were then divided into 32 sub-criteria. The fuzzy AHP is used to determine the percent weightings of eight categories of performance criteria that were identified via a review of the quality-management literature. These criteria include management commitment, role of the quality department, training and education, continuous improvement, quality policies, quality data and reporting, communication to improve quality, and customer satisfaction orientation. An empirical analysis of the criteria of each stage using the fuzzy AHP methodology and the expert opinion of quality management are used to evaluate the percent weightings of the criteria and sub-criteria that are synonymous with TQM implementation. The results showed that management commitment is the most critical factor; among sub-criteria, supports and responsibilities of top management is the most important. The study also identified the rank order of critical success factors of TQM. The findings suggest a generic hierarchy model for organizations to prioritize the critical factors and formulate strategies for implementing TQM in supporting industries, as well as other industries in Vietnam.

• The Journal of Asian Finance, Economics and Business
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• 제7권1호
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• pp.47-58
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• 2020

The research aims to investigate the determinants of the financial performance of 1343 Vietnamese companies categorized into six different industries listed on the Vietnamese Stock Exchange over a four-year period from 2014 to 2017 using STATA software. Those determinants include firm size, liquidity, solvency, financial leverage, and financial adequacy while the financial performance is evaluated by three different ratios: return on assets (ROA), return on equity (ROE), and return on sales (ROS). The research results from these companies during the given period indicate that: (1) Firm size has a positive impact on both ROA and ROS, especially ROA but it has the opposite effect on ROE, (2) Adequacy ratio impacts positively on ROA and ROS but negatively on ROE, (3) Financial leverage considerably negative influences on ROE and ROS but positively impacts on ROA, (4) Liquidity has a positive effect on both ROA and ROE but a negative one on ROS and (5) Solvency has a positive impact on ROA and ROS but the negative impact on ROE. Furthermore, agriculture accounted for the highest percentage of profitability at the beginning, which was replaced by service for ROA but manufacture for ROE from 2016 to 2017 as opposed to the least in transportation.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.91-101
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• 2021

The paper examines the impact of the COVID-19 pandemic on the stock market prices. The vector autoregression model (VAR) has been used in this analysis to survey 341 stocks on the Ho Chi Minh City Stock Exchange (HOSE) for the period from January 23, 2020 to December 31, 2020. The empirical results obtained from the analysis of 11 economic sectors suggest that there is a statistically significant impact relationship between COVID-19 and the healthcare and utility industries. Additional findings show a statistically significant negative impact of COVID-19 on the utility share price at lag 1. Analysis of impulse response function (IRF) and forecast error variance decomposition (FEVD) show an inverse reaction of utility stock prices to the impact of COVID-19 and a gradual disappearing shock after two steps. Major findings show that there is a clear negative effect of the COVID-19 pandemic on share prices, and the daily increase in the number of confirmed cases, indicate that, in future disease outbreaks, early containment measures and positive responses are necessary conditions for governments and nations to protect stock markets from excessive depreciation. Utility stocks are among the most severely impacted shares on financial exchanges during a pandemic due to the high risk of immediate or irreversible closure of manufacturing lines and poor demand for basic amenities.

• The Journal of Asian Finance, Economics and Business
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• 제8권9호
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• pp.235-247
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• 2021

The objective of this paper is to clarify the relationship between ICT application and labor productivity in Vietnamese manufacturing firms and connect it with the context of economic restructuring in Vietnam. The study uses data of 3,428 manufacturing firms from the General Statistics Office of Vietnam and regression models. In addition to the general model, the study also runs the models for sub-samples of firms of different production technology levels. Research results show two main points. First, information technology can enhance the labor productivity of Vietnamese manufacturing firms. This is true for both ICT hardware applications, ICT services, ICT software solutions, and employees' ICT skills in firms. Second, manufacturing firms with higher levels of production technology use ICT more effectively and achieve a higher impact on labor productivity. The results confirm that the Vietnamese government can stimulate ICT application and digital transformation in firms, thereby increasing labor productivity and promoting economic restructuring in the direction of shifting from agriculture to industry and from low-tech industries to high-tech ones. The results also provide implications for business managers and policymakers in other developing countries who are adopting the digital economy as a development strategy.

• International Journal of Internet, Broadcasting and Communication
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• 제16권3호
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• pp.370-378
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• 2024

Recently, Artificial Intelligence (AI) has been emerging as a technology that has transformed and revolutionized various industries around the world. In recent years, businesses in Vietnam have also started to embrace AI applications to enhance their operations and gain a competitive edge in the market. As AI technologies continue to evolve rapidly, their impact on Vietnamese businesses is becoming increasingly profound. As artificial intelligence continues to progress across various fields, the need to democratize AI technology becomes increasingly clear. In a rapidly growing market like Vietnam, leveraging AI offers significant opportunities for businesses to improve operational efficiency, customer engagement, and overall competitiveness. However, significant barriers to AI adoption in Vietnam are the scarcity of skilled developers and the high cost of implementing traditional AI. No-code/low-code platforms offer an innovative solution that can accelerate AI adoption by making these technologies accessible to a wider audience. This article analyzes and understands the benefits of no-code/low-code solutions and proposes a roadmap for implementing no-code/low-code solutions in promoting AI applications in Vietnamese businesses.

• 동남아시아연구
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• 제27권1호
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• pp.163-191
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• 2017

이 글은 2016년을 정점으로 한 최근 베트남의 정치, 경제, 대외관계를 진단하고 향후 변화를 전망해보는 데 목적을 두고 있다. 정치적으로 베트남은 2016년 공산당대회와 국회의원 선거를 치루며 새로운 국가지도부 구성을 마쳤다. 새로운 지도부에서 눈여겨 볼 점은 공산당의 정치국원과 행정부를 이끌 장관의 비율에서 북부출신이 우위를 지속하게 되었다는 사실이다. 또한 사회주의를 지향하는 시장경제체제를 발전시키기 위하여 공업화와 현대화를 지속적으로 추진하면서 미래를 위한 구조조정에 전력을 다하겠다는 국가발전목표를 제시하였다는 사실이다. 이러한 정치적 결정은 베트남 경제의 원동력이 저가의 노동력을 활용하기 위해 투자하는 외국자본에 토대를 두고 있지만 동시에 대외의존적인 노동집약적 산업에 머물러서는 국가경제의 미래가 불투명하다는 사실에 토대를 두고 있다. 실제로, 베트남이 어려운 대외여건 속에서도 저가생산물 기지로서 입지를 다지고 경제성장을 지속하고 있지만 향후 외자의존도와 사회경제적 불평등을 시정하지 않으면 장기적인 지속성장에 어려움을 겪을 것이 분명하다. 이러한 구조적인 문제에 더하여 단기적으로는 세계경제의 침체, 서구의 금융/화폐 정책, 그리고 무역협정의 불확실성 등이 베트남 경제의 성장을 가늠 하는 변수가 될 것이다. 국제관계에 있어서도 남중국해 등에서 영토분쟁을 겪고 있는 중국과의 관계를 의식하여 미국, 일본, 러시아, 인도 등과 밀접한 관계를 유지하며 외교다변화 정책을 지속할 것으로 보인다. 동시에 보호무역을 천명한 미국의 트럼프 정부가 들어서면서 중국을 포함한 주변 강대국과 정치와 경제를 모두 의식한 균형 있는 외교를 더욱 강화해야 하는 상황에 직면해 있다.

• The Journal of Asian Finance, Economics and Business
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• 제7권2호
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• pp.75-87
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• 2020

This paper aims to not only investigate the nature of financial security and its measurement, but also to compare financial security level in 629 listed companies divided into four different industries (materials, industrials, health care, and consumer goods) before building a theoretical framework and regression models to examine the determinants of financial security. By gathering 2,167 financial statements published in Vietnamese Stock Exchange during eight years from 2012 to 2019, with the support of STATA, the research results indicate that six different internal factors, which are liquidity, profitability, firm size, debt management ratios, asset management ratios, and cash flows, explain 77.7% the change of financial security ratio and 3.4% the change in sustainable growth ratio. Specifically, while firm size has a positive impact on sustainable growth ratio but a negative impact on financial security ratio, deb management and profitability have an insignificant influence on the financial security level. Furthermore, an increase in asset management ratios would result positively in both two dependent variables whereas a rise in sustainable growth and a decline in financial security ratio are expected to witness if there is an increase in cash flows.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.607-616
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• 2021

The European Union Vietnam Free Trade Agreement (EVFTA) took effect on August 1 paving the way for increased trade between the EU and Vietnam; this marked a huge turning point for the Vietnamese economy. Agriculture products, especially fruits, must be listed when it comes to Vietnam export industries that profit the most from EVFTA. After a period of study, with the desire to contribute to the improvement in the efficiency of Vietnam's agricultural products to the EU, the researchers want to assess the impact of the EVFTA on the flows of Vietnamese fruits to the EU market. The study uses a quantitative analysis method via the WITS-SMART model with data on export turnover and tariff reductions in parallel with the analysis of changes in factors affecting the trade flows of fruits between the two markets when the EVFTA takes effect. As a result, Vietnam's fruit importing from the EU is expected to escalate by 29.18% in 2021, while the flow of export will only inch up by 0.955%, which is rather low compare to the increase in import value. Hence, effective policies must be introduced in Vietnam to innovate production methods and increase product quality, so that the EVFTA can be used to boost Vietnam's fruit exports to the EU.

• Fashion, Industry and Education
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• 제14권2호
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• pp.11-23
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• 2016

This study investigated the comparative advantages of the Bangladeshi and Vietnamese apparel industries using Global Value Chain (GVC) framework. In this study, the GVC framework was expanded to include social and environmental sustainability issues. Secondary data, for the 2012 - 2013 period, were collected and analyzed for each component of the apparel GVC. The findings indicated that while both countries have unique comparative advantages, Vietnam clearly emerged as a leader on many GVC components. Bangladesh's comparative advantage lies in lower wages, producing high volume orders, and lean manufacturing. In spite of Vietnam's higher labor costs, it has comparative advantages in higher productivity, skilled and trained workers, manufacturing of intricate styles of high quality, agility and flexible manufacturing, more developed infrastructure and logistic services as well as greater social and environmental compliances. This study contributes towards insight into best sourcing fit for fashion brand business models. Based on the findings, fashion driven companies offering more complex styles at a faster rate will benefit from choosing Vietnam. In contrast, Bangladesh might be a better choice for high volume driven companies that offer basic apparel and better value for their consumers. From theoretical perspective, the research makes an important contribution by expanding the GVC framework.