• The Journal of Asian Finance, Economics and Business
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• 제8권8호
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• pp.325-334
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• 2021

The study investigates the effectiveness of the macroprudential policy on credit growth in Vietnam. The authors use the logic of the transmission mechanism of macroprudential policy on credit growth. Research variables include economic growth, inflation, interest rate, and quarterly bank-level data from 28 commercial banks in Vietnam during 2011-2018. The results reveal that: (i) GDP growth had a positive impact on credit growth of small banks but had no impact on large banks, (ii) Domestic Systemically Important Banks (D-SIBs) and small banks respond differently to macroprudential measures of imposing different credit growth targets for different bank groups, (iii) Restrictions on foreign currency loans are found to be effective in curbing credit growth for the full sample and small banks, (iv) Inflation and economic cycle have significantly impacted credit growth at bank-level in Vietnam and (v) Interestingly, a significant positive relationship between interest rates and credit growth is found for the full sample and D-SIBs in Vietnam. The findings suggest that a stable macroeconomic environment should be good conditions for financial stability, and monetary authority should pay more attention to small banks' behaviors than D-SIBs behavior, toward such "administration" tools since small banks tend to prefer "breaking the rules" to make profits.

• The Journal of Asian Finance, Economics and Business
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• 제9권7호
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• pp.261-271
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• 2022

Over the last 20 years, the insurance industry in Vietnam has been rapidly growing with an average annual growth rate of 21%, one of the most active markets in Southeast Asia, raising the question of efficiency to managers, investors, and regulators. This article is one of the first research works using Data Envelopment Analysis combined with the Malmquist index over the period from 2016 to 2020 for 37 insurance firms in Vietnam to investigate the efficiency of this sector. The value-added approach is employed with total equity and operating expenses as inputs, finance income, and gross written premium as outputs. The findings reveal that most of Vietnam's insurance companies are operating quite effectively, and the non-life sector is more efficient than the life sector. There is also a regression in efficiency change, while there is a progression in technological change and total factor productivity change during the period examined. The goal of this research is to give a fundamental understanding of the overall efficiency of insurance firms in Vietnam, and help managers, investors, policyholders, and government agencies make better decisions regarding self-assessment, M&A activities, deregulation... Consequently, the insurance sector could improve in terms of efficiency and develop sustainably over time.

• The Journal of Asian Finance, Economics and Business
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• 제6권4호
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• pp.129-137
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• 2019

Tax can be categorised into direct tax and indirect tax. This paper uses the ordinary least-squares regression method to study the impact of direct and indirect tax on economic growth in Vietnam in the period 2003-2017. Statistical data is collected from the Ministry of Finance of Vietnam. Theoretically, tax generates the state budget revenue and is a tool to regulate the economy. The results of statistical tests show that tax has a positive impact on Vietnam's economic growth. However, the effects of direct tax and indirect tax are different. The indirect tax has a positive influence and promote Vietnam's economic growth, while the impact of the direct tax is invisible. There has not been sufficient evidence to confirm that the indirect tax has a more positive impact than the direct tax. To promote economic growth, Vietnam needs to restructure its tax system towards: (1) Increasing the proportion of indirect tax, reducing the proportion of direct tax in the state budget revenue; (2) Expanding tax bases; (3) Reducing tax rates of corporate income tax and personal income tax; (4) Increasing tax rates of environmental protection tax, natural resources tax, value added tax and excise tax on some types of goods which harm health and environment.

• The Journal of Asian Finance, Economics and Business
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• 제7권7호
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• pp.169-178
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• 2020

This study examines the current situation of responsibility accounting and proposed management solutions according to responsibility centers on public universities in Vietnam. The study applies quantitative research methods, and collected data through structured questionnaires to 138 public universities in Vietnam in 2019, receiving back 55 valid questionnaires. The data was cleaned and analyzed with SPSS software. The results show that most public universities in Vietnam assigned management responsibility to their departments, but responsibility accounting was not comprehensive since many universities are not financially autonomous. The Kruskal Wallis Test was conducted to compare the current situation of responsibility accounting among universities by the degree of autonomy and by geographic area. The research found out that totally autonomous universities assigned management responsibility to responsibility centers better than semi-autonomous and non-autonomous universities did. Regarding the evaluation of management responsibility, universities in Central Vietnam rated specific quantitative criteria, residual income (RI) and returns on investment (ROI) higher than universities in the North and the South of Vietnam did. However, universities in the South of Vietnam rated the evaluation of profits by department higher than the rest. The study also suggests structure for establishing responsibility centers in accordance with public universities in Vietnam.

• 영미문화
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• 제18권4호
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• pp.1-31
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• 2018

It is needless to say that America's indiscriminate artillery and chemical attacks have worsened the conditions of Vietnam's tropical rain forests, causing war-torn combat troops and civilians to suffer more from the participation and aftermath of the Vietnam war. Around two decades after the Vietnam War, American and Vietnamese writers dealing with the destruction of the human and nature of the Vietnam War and the following traumatic experience commonly report the horrors of inhumane warfare, but some differences among them appear in the reception of the ecocide consciousness. For American writers who had been involuntarily involved or who had stayed in the back area as interpreters and counter-intelligence force, the Vietnam War was often a kind of exotic "addicted adventure" which their American hometown could not provide. But apart from overcoming postwar post-traumatic stress by writing of healing which was shared with American war writers, Vietnamese writers have been able to overcome the scars of war as the communal memorial, which Jonathan Shay emphasized as the necessary comforting ritual by community members showing the sign of honor and care. On the other hand, American war writers were on the side of "separate peace," as Jeong stressed, and the Vietnam War to them was more racist like the case of "body count." Nevertheless, it is fortunate that the hideous experience of war could turn them all into the creativity pool, just as the 5,000 square mile of bomb creators have been used as the postwar fish ponds.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.885-895
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• 2021

The purpose of this study is to examine the determinants of intention to borrow consumer credit of Vietnamese people by applying the Technology Acceptance Model (TAM) and extending it with several variables, including anxiety, perceived trust, and perceived financial costs extracted and adapted from the existing literature. A questionnaire survey was administered in the big cities of Vietnam to a total of 602 consumers. Structural equation modeling (SEM) techniques have been employed to investigate the relationship among intention determinants to borrow. Findings show that perceived usefulness mediates the impact of subjective norms on the intention to borrow consumer credit. At the same time, subjective norms also directly influence the intention to borrow. Notably, anxiety, perceived trust, perceived financial cost, perceived ease of use have no significant influence on intention to borrow. Meanwhile, education level is confirmed to have a moderate influence on intention to borrow consumer credit of Vietnamese people. However, there is not enough statistical evidence about the influence of gender and marital status on the intention to borrow consumer credit in Vietnam. Based on the findings of the Vietnamese consumer credit market, we proposed some suggestions to promote the growth of the market in the future.

• The Journal of Asian Finance, Economics and Business
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• 제6권3호
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• pp.123-130
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• 2019

The paper aims to investigate whether foreign direct investment (FDI) has positive effect on the labour productivity in Vietnam. Labour productivity is the elemental determinant of a country's development level in long-term. In recent years, although increasing consistently, labour productivity of Vietnam remains low in comparison to other South East Asian countries. To identify the direction of effect and the level of effect of FDI and human capital on the labour productivity of Vietnam, Autoregressive Distributed Lag (ARDL) model was used to examine the effect of FDI and human capital on labour productivity in Vietnam from 1986 to 2014. The results of bounds test confirm the existence of cointegration among the variables. Further, the Toda and Yamamoto Granger causality test affirms that there is unidirectional causality running from foreign direct investment and human capital index to labour productivity. The empirical results provide strong statistical evidence that foreign direct investment and human capital has a positive impact on labour productivity in Vietnam in long-term. These findings imply that workers are expected to further improve their knowledge, skills and that policy-maker should establish concrete plans to increase human capital. Results from this study provide suggestion necessary for Vietnam to achieve sustainable development.

• The Journal of Asian Finance, Economics and Business
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• 제7권1호
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• pp.123-129
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• 2020

Intra-industry trade (IIT) has played an important role in international trade of Vietnam as a result of rapid growth of the country. This article investigates the level of IIT between Vietnam and 11 trading partners in Trans-Pacific Partnership (TPP) over the period 2000-2014. Although there have been a large number of empirical researches contributed to the determinants of IIT, most of them only pay attention on developed countries where the trade flows are similar due to similar demand structure and production technology. Until now, there is no study on intra-industry trade between Vietnam and countries in TPP that Vietnam recently signed a trade agreement in early 2016. IIT is measured by the Grubel-Lloyd index. The index shows that the extent of intra-industry trade between Vietnam and the trading countries is not high due to the level of economic development and the market size. The determinants of IIT are examined using a panel regression model. In the empirical analysis, the results indicate that Vietnam's intra-industry trade is positively correlated with country size, while it is negatively correlated with income dissimilarity, the trade openness, and geographical distance. This study contributes to the new theoretical trade theory on the evidence of developing country's IIT.

• 무역학회지
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• 제44권4호
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• pp.1-17
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• 2019

The purpose of this paper is to suggest strategies for Korean companies to overcome the limitation of the international trade structure between Korea and Vietnam. This study examined foreign multinational distribution companies, Korean distribution companies and domestic distribution companies in Vietnam. A SWOT analysis conducted to propose effective strategies revealed that Saigon Mart, Vietnam's largest regional mart company, needs an O/W strategy and to capture market opportunities quickly through strategic alliances with foreign distribution companies, in order to gradually complement their core competencies internally. Lotte mart in Vietnam, one of Korea's three largest marts, needs to establish a T/S strategy in order to overcome the crisis situation in Vietnam market and succeed in business. BIG C Mart has over 40,000 diverse products needs to use a T/S strategy in order to effectively overcome the crisis situation in the Vietnamese market and to increase the possibility of business success. From the study findings and conclusions, various implications are derived. Vietnam is still very strong in socialism and regional characteristics, so it needs to build up close cooperation such as joint venture with local partners in the region and strategic alliances to increase the possibility of investment success.

• 한국건축시공학회지
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• 제21권1호
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• pp.61-69
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• 2021

최근 베트남 건설시장 규모는 지속적으로 증가추세이고, 중국, 일본 등 외국 건설기업들이 진출을 확대하고 있다. 따라서 본 연구는 베트남에서 한중일의 건설경쟁력을 비교하기 위하여 베트남에 진출한 한중일의 건설기업과 베트남 건설기업의 설계역량, 시공역량, 건설사업관리역량을 조사한 결과, 일본, 한국, 중국, 베트남 순으로 경쟁력 높다고 도출되었다. 특히 베트남에서 한국의 경쟁력은 초고층건축과 플랜트분야에서 경쟁력이 높게 나타났다. 이를 토대로 우리나라의 건설기업의 베트남 진출시 건설경쟁력 강화방안을 제안하였다.