Journal Articles - Business and Management - 2022
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PublicationVận dụng phương pháp DEMATEL đánh giá rủi ro COVID-19 tới chuỗi cung ứng thực phẩm tại Việt Nam( 2021)Đại dịch COVID-19 đã và đang có những tác động to lớn đến chuỗi cung ứng thực phẩm toàn cầu nói chung, gây gián đoạn, và xáo trộn chuỗi cung ứng thực phẩm Việt Nam nói riêng. Đại dịch mang lại hậu quả nặng nề, ảnh hưởng bởi rủi ro yêu cầu chúng ta cần thiết phải chuẩn bị, đối phó và vượt qua. Các rủi ro phức tạp và tác động lẫn nhau, do đó, nghiên cứu này nhằm đánh giá tầm quan trọng, mối quan hệ đan xen giữa các yếu tố rủi ro trong chuỗi cung ứng thực phẩm tại Việt Nam bằng phương pháp DEMATEL. Nghiên cứu cho thấy rủi ro về thay đổi trong chính sách và rủi ro thay đổi hành vi tiêu dùng có ảnh hưởng rất mạnh, là yếu tố nguy cơ kéo theo các rủi ro khác. Tuy là nguyên nhân, thay đổi nhu cầu và hành vi tiêu dùng vẫn bị rủi ro thay đổi chính sách từ nhà nước chi phối, trong khi đó, việc thay đổi chính sách hay không lại chịu sự tác động từ việc nông dân bị giảm thu nhập và hành vi người tiêu dùng thay đổi.
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PublicationHow COVID-19 induced panic on stock price and green finance markets: global economic recovery nexus from volatility dynamics( 2021)This paper investigates the effect of different categories of essential COVID-19 data from 2020 to 2021 towards stock price dynamics and options markets. It applied the hypothetical method in which investors develop depression based on the understanding suggested by various green finance divisions. Furthermore, additional elements like panic, sentiment, and social networking sites may impact the attitude, size, and direction of green finance, subsequently impacting the security prices. We created new emotion proxies based on five groups of information, namely COVID-19, marketplace, lockdown, banking sector, and government relief using Google search data. The results show that (1) if the proportional number of traders’ conduct exceeds the stock market, the effect of sentimentality indexes on jump volatility is expected to change; (2) the volatility index component jump radically increases with the COVID-19 index, city and market lockdown index, and banking index; and (3) expanding the COVID-19 index gives rise to the stock market index. Moreover, all indexes decreased in jump volatility but only after 5 days. These findings comply with the hypotheses proposed by our model.
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PublicationThe Role of Formative Assessment in Business Education in VietNam( 2021)This study investigates the role and the effectiveness of using formative assessment in teaching practices of business schools in Vietnam. Formative assessment shows us how useful and impactful is engaging students in active acquiring knowledge, solving teamwork business case studies, dealing with simulated business decisions instead of taking final exams. Students majoring in business of Vietnamese universities must rely on multiple feedback information from formative assessment to evaluate their knowledge and improve their practical skills. Working in groups is also essential channels to self-assess and peer-assess to take advantage of own strengths and to overcome own weaknesses. The study employed questionnaire, in-depth interviews and observations as the research methods. The results of this study showed that students majoring in business from developing countries like Vietnam, compared to their counterparts in developed countries, need to be involved more in formative assessment practices which help them shift away from conventional knowledge acquisition to focus on creative and active enhancing real-life business skills and capacities
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PublicationService Innovation, Marketing Innovation and Customer Satisfaction: Moderating Role of Competitive Intensity( 2022)Based on dynamic capability and contingency theory, authors examined the direct connection between Service innovation, Marketing innovation and Customer satisfaction, and the interacting mechanism of competitive intensity. The research model and hypotheses were developed from extant studies. Respondents from 300 microfinance banks participated in the survey. Analyses in Smart PLS software showed that Service innovation positively and significantly affects Customer satisfaction. Marketing innovation promotes customer satisfaction. Furthermore, the influence of Service and Marketing innovation on Customer satisfaction is greater in a competitive environment. Therefore, microfinance bank managers must continue to invest in innovation-related capabilities (service and marketing) to keep their customers satisfied. Theoretical and managerial contributions are highlighted in the study. JEL Classification: M10, M31
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PublicationEvaluation of Digital Marketing Technologies with Fuzzy Linguistic MCDM Methods( 2022)Technology is becoming the tool that changes how people live every day, and the marketing strategies of businesses are also gradually shifting to the industry 4.0 mindset of constant growth and development. Digital marketing has changed human habits of information accessibility, determined their interactions, and witnessed the birth of a variety of new marketing technologies. Marketers are creating digital marketing products and services that enhance the experience for consumers, products, and services that are also delivered through high digital marketing networks. As a result, data sources become more abundant and allow consumers to have more choices. All products, services, technologies, and data are increasingly meeting the needs of consumers, thereby confirming the effectiveness of digital marketing in today’s market. However, the evaluation and selection of digital marketing technology is very complex since it has many conflicting criteria and goals. The multi-criteria decision-making model (MCDM) is a powerful technique widely used for solving this type of problem. Thus, the author proposed a fuzzy linguistic MCDM method for evaluation of digital marketing technologies. After determining the evaluation criteria and alternatives, two MCDM methods, including Spherical Fuzzy Analytic Hierarchy Process (SF-AHP) and Technique for Order Preference by Similarity to Ideal Solution (TOPSIS), are used in the evaluation and selection of digital marketing technologies procedure. Finally, an application is present to demonstrate the potential use of the proposed methodology. The main contribution of this study is to propose a Spherical fuzzy MCDM model to support planners and decision makers in the digital marketing technology evaluation and selection processes. A case study is also performed to showcase the feasibility of the proposed approach.
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PublicationThe Application of Sem–Neural Network Method to Determine the Factors Affecting the Intention to Use Online Banking Services in Vietnam( 2022)Developing banking services based on technology is an inevitable and objective trend in the era of international economic integration. This study aims to determine the factors impacting the adoption and use of online banking services in Vietnam. The proposed research model is based on the adjustment of Unified Theory of Acceptance and Use of Technology (UTAUT2). We employed the structural equation modeling (SEM) and artificial neural network model (ANN) to comprehensively evaluate the linear and non-linear effects of factors on the adoption and use of online banking services in Vietnam. With survey data of 433 customers from three key economic areas in Vietnam, the result shows that the factors of expected efficiency, cost, expected effort, brand image, perceived risk, and social influence impact behavioral intention to use online banking services. At the same time, the behavioral intention to use online banking services also increases the decision to choose online banking services. Based on the results, we propose some implications for Vietnamese commercial banks to increase the acceptance of online banking.
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PublicationImpact of corporate social responsibility on social and economic sustainability( 2022)Recently, corporate social responsibility (CSR) and social and economic sustainability are the foremost factors that improve trust and commitment of the institution and have gained the attention of recent researchers and policymakers. Thus, this research aims to examine the impact of CSR on social and economic sustainability. Questionnaires were used to gather the data from selected respondents, and smart-PLS was used to test the validity and reliability of the constructs and hypotheses of the study. The results showed that all the responsibilities such as economic responsibility, legal responsibility, ethical responsibility, philanthropic responsibility, and economic and social sustainability have a positive effect on organizational trust.
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PublicationLogistics Service Provider Evaluation and Selection: Hybrid SERVQUAL–FAHP–TOPSIS Model( 2022)Production and business enterprises are aiming to improve their logistics activities in order to increase competitiveness. Therefore, the criteria and decision support models for selecting logistics service providers are significant to businesses. Fuzzy theory has been applied to almost all industrial engineering fields, such as decision making, operations research, quality control, project scheduling and many more. In this research, the authors combined fuzzy theory and a Multicriteria Decision Making (MCDM) model for the evaluation and selection of potential third-party logistics (3PL) providers. The goal is to take the advantages of these approaches and allow for more accurate and balanced (symmetric) decision making through their integration. The main contribution of this study is that it develops a complete approach to assessing the quality of the logistics service industry. The combined method of the SERVQUAL and FAHP–TOPSIS models not only provides reasonable results, but it also allows decision makers to visualize the impact of different criteria on the final outcome. Furthermore, this integrated model can provide valuable insights and methods for other areas to define service quality.
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PublicationMarketing Strategies Evaluation and Selection for Supply Chain Management Under Uncertainty( 2022)Sustainable marketing, often known as green marketing, has grown in popularity over the last two decades. Government is currently putting pressure to encourage firms to become environmentally aware in multiple aspects like human and financial utilization, advertisement, and product movement. Different types of companies are including many environmental campaigns into their own products to take advantage of the problem. Although many scholars have addressed the relevance of green marketing as well as theory development, this study is unique in that it examines both techniques in a fuzzy context. The integrated Fuzzy Multicriteria Decision Making Model (MCDM) of the analytical hierarchy process (AHP) and a Portuguese-acronymous MCDM method (TODIM) are used to select the best marketing strategy from five alternatives: (i) Green Design, (ii) Green Positioning, (iii) Green Pricing, (v)Green Packaging, and (iv)Green Disposal. based on criteria such as the scale of the green market, price parity, and the commitment of top management.AfuzzyMCDMmodel for evaluating green marketing strategies was established in the study as contributions for decisionmakers in this field under unclarified circumstances.This research also a useful guideline for ranking alternatives in others industry.
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PublicationImpact of Covid 19 on the Profitability Performance of Real Estate Businesses in Vietnam( 2022)This study tries to analyze how the Covid-19 epidemic has affected the profitability of Vietnam's real estate enterprises. The researchers collected data from sixty real estate enterprises in Vietnam from the final quarter of 2018 to the third quarter of 2021. This period encompasses the milestones that occurred before and during the Covid-19 pandemic. This study differentiates from previously published research by employing the statistical comparison approach and analyzing the profitability determinants of real estate enterprises across two time periods, before and during the Covid-19 pandemic, through regression.
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PublicationTwo-Stage Production Planning Under Stochastic Demand: Case Study of Fertilizer Manufacturing( 2022)Agriculture is a key facilitator of economic prosperity and nourishes the huge global population. To achieve sustainable agriculture, several factors should be considered, such as increasing nutrient and water efficiency and/or improving soil health and quality. Using fertilizer is one of the fastest and easiest ways to improve the quality of nutrients inland and increase the effectiveness of crop yields. Fertilizer supplies most of the necessary nutrients for plants, and it is estimated that at least 30%–50% of crop yields is attributable to commercial fertilizer nutrient inputs. Fertilizer is always a major concern in achieving sustainable and efficient agriculture. Applying reasonable and customized fertilizerswill require a significant increase in the number of formulae, involving increasing costs and the accurate forecasting of the right time to apply the suitable formulae. An alternative solution is given by two-stage production planning under stochastic demand, which divides a planning schedule into two stages. The primary stage has non-existing demand information, the inputs of which are the proportion of raw materials needed for producing fertilizer products, the cost for purchasing materials, and the production cost. The total quantity of purchased material and produced products to be used in the blending process must be defined to meet as small as possible a paid cost. At the second stage, demand appears under multiple scenarios and their respective possibilities. This stage will provide a solution for each occurring scenario to achieve the best profit. The two-stage approach is presented in this paper, the mathematical model of which is based on linear integer programming. Considering the diversity of fertilizer types, themathematicalmodel can advise manufacturers about which products will generate as much as profit as possible. Specifically, two objectives are taken into account. First, the paper’s thesis focuses on minimizing overall system costs, e.g., including inventory cost, purchasing cost, unit cost, and ordering cost at Stage 1.
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PublicationNatural resources rents and economic performance: Post-COVID-19 era for G7 countries( 2022)The study found that during the COVID-19 and post pandemic, economic performance has been declined. This study found that natural resources rent, including oil and gas, help to improve the economic performance. Further, structural break for the year 2019 caused by COVID-19 also slowed down the economic performance of G7 economies. This study suggests more stabilization policies towards natural resources commodity prices and encouragement of active role from the G7 countries. This study further provides relevant policy implications in the concluding section for the selected group of countries.
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PublicationDrivers of Economic Catch up in Asia: A Study of ASEAN Countries with Comparative Views of China and India( 2022)This paper conducts a comprehensive examination of the sources of economic growth and catch-up of ASEAN countries since the Asian financial crisis, with comparative views of China and India. The study employs different decomposition frameworks to gain insights into the drivers of ASEAN economic performance over 1997-2017. Three findings are most notable. First, ASEAN countries, except for Brunei, recorded a strong catch-up performance, with labour productivity being the leading driver in most countries. Second, the drivers of labour productivity catch-up exhibit some distinctive patterns among countries, which depend on the level of income and economic structure. Third, in all decomposition analyses, ASEAN countries are well below China and India across sources of growth, which tends to suggest that ASEAN countries could improve their performance by enhancing market integration and policy coordination. Although the long-term prospect of ASEAN is bright, the COVID-19 pandemic and the recent military coup in Myanmar have indicated that the road to future prosperity of the region is expected to unexpectedly face formidable challenges.
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PublicationAnomalies in Asia Pacific Stock Markets: A Re-Examination of the Turn-of-the-Year Effect( 2022)This paper examines the turn-of-the-year (TOY) effect in fifteen Asia Pacific stock indices by using an updated dataset. The analysis utilizes the daily datasets spanning from 2000 to 2018. Applying the Ordinary Least Square (OLS) and the Exponential Generalized Autoregressive Conditional Heteroskedastic (EGARCH) approach, the results of this paper suggest that the TOY effect becomes detectable again after the Global Financial Crisis (GFC) in developed markets with the tax year not ending in December. Furthermore, the magnitude of this anomaly diminishes in emerging markets after the GFC, which is consistent with the Efficient Market Hypothesis (EMH). The evidence of the leverage effect in the market volatility shows in negative shocks that it is considerably higher than that of positive shocks for all markets. This phenomenon is more evident in mature markets compared to emerging markets. The positive connection between the leverage effect and stock market volatility is seen with diminishing magnitude during the stable market condition after the GFC.
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PublicationFactors Affecting Loan Loss Provisions during the Covid-19 Pandemic – The Case of Commercial Banks in Vietnam( 2022)Credit is considered a crucial activity of commercial banks; it accounts for the most significant proportion of the bank's total assets and is also an activity that carries great risks. The study uses OLS, FEM, REM, and FGLS to assess the factors affecting loan loss provisions (LLPs) of 20 Vietnamese commercial banks during the Covid-19 pandemic from Q1/2020 to Q4/2021. The result of the model is based on FGLS to overcome the phenomenon of heteroscedasticity after using estimation by OLS, FEM, REM, showing that the factors affecting LLP of Vietnamese commercial banks during the Covid pandemic include: bank size (SIZE), non-performing loans ratio (NPL), a ratio of pre-tax profit and provision to total assets (CROA), loans to total assets ratio (LOAN), and credit growth (ΔCREDIT). Research results using the FGLS method show that bank size, bad debt ratio, pre-tax profit ratio and provision to total assets and credit growth positively impact the LLP of the Vietnamese commercial banks in the Covid pandemic. However, interestingly, the percentage of loans to total assets can decrease the provision for loan losses. Thereby, the study proposes some policy implications as follows: The SBV needs to have the policy to limit credit growth and bad debt ratio for commercial banks to control the competition for a market share of loans without ensuring the quality of loans, leading to an increase in credit risk and LLP. Furthermore, each Vietnamese commercial bank needs to develop and apply a practical and comprehensive credit process to ensure debt recovery to avoid a lot of bad debts. For new customers, banks need to fully assess all aspects to predict the level of risk before deciding to provide loans. Additionally, the long-term effects of Covid-19 cause difficulties for commercial banks' activities, SBV needs to consider supportive policies through interest rate reduction, grace period, and debt extension to increase financial performance and maintain market share and profits of commercial banks.
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PublicationFuzzy MCDM for Improving the Performance of Agricultural Supply Chain( 2022)Fertilizer industry in Vietnam and globally have entered the saturation phase. With the growth rate slowing down, this poses challenges for the development impetus of the fertilizer industry in the next period. In fact, over the past few decades, Vietnam’s crop industry has abused excessive investment in chemical fertilizers, with organic fertilizers are rarely used or not at all, limiting crop productivity, increasing pests and diseases. To develop sustainable agriculture, Vietnam’s crop industry must limit the use of chemical fertilizers, increase the use of environmentally friendly organic and naturalmineral fertilizers to produce clean agricultural products which is safe. Therefore, it is necessary to consider and choose the right supplier to ensure the goal of sustainable development. Spherical Fuzzy Analytic Hierarchy Process (SF-AHP), and the combinative distance-based assessment (CODAS) are new Multicriteria Decision Making (MCDM) method which can be used to solve supplier selection problem. This paper uses an effective solution based on a combined the concept of triple bottom line (TBL), SF-AHP and CODAS approach to help agriculture companies that need to select the best fertilizer supplier. This research can support supply chain managers to achieve supply chain systems that reduce not only sourcing costs, but also develop sustainable agriculture.
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PublicationPreparation of Financial Statements of Enterprises According to IFRS: An Empirical Study from Vietnam( 2022)The purpose of this study was to find out what factors influence the preparation of financial statements in accordance with the International Financial Reporting Standards (IFRS) for Vietnamese businesses. The survey included 150 enterprises, including parent companies of state-owned economic groups, parent companies that are listed companies, large-scale public companies that are unlisted parent companies, and enterprises with 100 percent foreign direct investment, that will apply IFRS voluntarily from the year 2022 and switch to the mandatory application from the year 2025 (Ministry of Finance, 2016). The survey was carried out with the help of the Google Form tool, and the data was processed using EFA and regression analysis methods on the SPSS 22.0 software. The findings show, for enterprises in Vietnam, that six factors influence the preparation of financial statements in accordance with IFRS, ranked in order of influence from high to low: (i) Related party requirements; (ii) Professional qualifications of accountants; (iii) Roles of enterprise managers; (iv) Forms of capital ownership in enterprises, (v) Institutional regulations, and (vi) Operational characteristics of the enterprise. In addition, the study also shows that, for enterprises in Vietnam, the requirements of related parties are an important factor to promote the preparation of the financial statements of enterprises according to IFRS.
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PublicationFlow-Shop Scheduling with Transportation Capacity and Time Consideration( 2022)Planning and scheduling is one of the most important activity in supply chain operation management. Over the years, there have been multiple researches regarding planning and scheduling which are applied to improve a variety of supply chains. This includes two commonly used methods which are mathematical programming models and heuristics algorithms. Flowshop manufacturing systems are seen normally in industrial environments but few have considered certain constraints such as transportation capacity and transportation time within their supply chain. A two-stage flowshop of a single processing machine and a batch processing machine are considered with their capacity and transportation time between twomachines. The objectives of this research are to build a suitable mathematical model capable of minimizing the maximum completion time, to propose a heuristic optimization algorithm to solve the problem, and to develop an applicable program of the heuristics algorithm. AMixed Integer Programming (MIP) model and a heuristics optimization algorithmwas developed and tested using a randomly generated data set for feasibility. The overall results and performance of each approach was compared between the two methods that would assist the decision maker in choosing a suitable solution for their manufacturing line.
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PublicationOptimization Model for Selecting Temporary Hospital Locations During COVID-19 Pandemic( 2022)The two main approaches that countries are using to ease the strain on healthcare infrastructure is building temporary hospitals that are specialized in treating COVID-19 patients and promoting preventive measures. As such, the selection of the optimal location for a temporary hospital and the calculation of the prioritization of preventive measures are two of the most critical decisions during the pandemic, especially in densely populated areas where the risk of transmission of the virus is highest. If the location selection process or the prioritization of measures is poor, healthcare workers and patients can be harmed, and unnecessary costs may come into play. In this study, a decision support framework using a fuzzy analytic hierarchy process (FAHP) and a weighted aggregated sum product assessment model are proposed for selecting the location of a temporary hospital, and a FAHP model is proposed for calculating the prioritization of preventive measures against COVID-19. A case study is performed for Ho Chi Minh City using the proposed decision-making framework. The contribution of this work is to propose a multiple criteria decision-making model in a fuzzy environment for ranking potential locations for building temporary hospitals during the COVID-19 pandemic. The results of the study can be used to assist decisionmakers, such as government authorities and infectious disease experts, in dealing with the current pandemic as well as other diseases in the future.With the entire world facing the global pandemic of COVID-19, many scientists have applied research achievements in practice to help decision-makers make accurate decisions to prevent the pandemic. As the number of cases increases exponentially, it is crucial that government authorities and infectious disease experts make optimal decisions while considering multiple quantitative and qualitative criteria. As such, the proposed approach can also be applied to support complex decision-making processes in a fuzzy environment in different countries
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PublicationSustainable Supplier Selection Model in Supply Chains During the COVID-19 Pandemic( 2022)As global supply chains become more developed and complicated, supplier quality has become increasingly influential on the competitiveness of businesses during the Covid-19 pandemic. Consequently, supplier selection is an increasingly important process for any business around the globe. Choosing a supplier is a complex decision that can result in lower procurement costs and increased profits without increasing the cost or lowering the quality of the product. However, these decision-making problems can be complicated in caseswithmultiple potential suppliers.Vietnam’s textile and garment industry, for example, has made rapid progress in recent years but is still facing great difficulties as the supply of raw materials and machinery depends heavily on foreign countries. Therefore, it is extremely important for textile and garment manufacturing companies in Vietnam to implement an effective supplier evaluation and selection process. While multicriteria decision-making models are frequently employed to assist with supplier evaluation and selection problems, few of these models consider the problem under the condition of a fuzzy decision-making environment. The aim of this paper is to create a hybrid MCDM model using the Fuzzy Analytical Hierarchy Process (FAHP) model and the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) to assist the supplier selection process in the garment industry in a fuzzy decision-making environment. In this study, the FAHP method is used to evaluate the performance and the weight of each criterion. TOPSIS is then used to rank all potential suppliers. The proposed model is then applied to a real-world case study to demonstrate both the process of calculation as well as its real-world applicability. The results from the case study provide empirical evidence that the model is feasible. The proposed approach can also be used in combination with other MCDM models to better support decision makers and can be modified to be applied in similar supplier selection processes for different industries.
