Journal Articles - Business and Management - 2023

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  • Publication
    Achieving sustainable development goals through a sharing economy: Empirical evidence from developing economies
    ( 2023)
    Yu-Te Tua, Ahmad Ibrahim Aljumah, Sang Van Nguyen, Cheng-Feng Cheng, Tran Duc Taie, Ranfeng Qiu
    Achieving sustainable development goals (SDGs) through a sharing economy is a global concern which requires policymakers and researchers’ attention. The improvement of sharing economy activities may increase sustainable development in developing economies. Thus, this study empirically examines the impact of sharing economy activities such as corporate social responsibilities (CSR), eco-design, supplier green management (SGM), internal green management (IGM), and customer green management (CGM) in achieving SDGs using data from the Emerging Seven (E7) countries. This study uses a questionnaire method to gather data from respondents and Amos software to test the validity and reliability of the data, and the relationships among the variables. The results show that SGM, eco-design, CSR, CGM, and IGM play positive roles in achieving SDGs in E7 economies. The present research provides guidelines for regulators and policymakers devising rules associated with SDGs attainment using sharing economy platforms.
  • Publication
    Các chiến lược ứng phó của ngân hàng thương mại Việt Nam để duy trì khả năng sinh lời trong thời kỳ covid-19
    ( 2023)
    Phạm Thị Hồng Vân, Phạm Tuấn Anh, Đỗ Duy Kiên
    his research aims to evaluate the response strategy of commercial banks during the COVID-19 period. Data were collected quarterly from 2018Q1 to 2021Q3 of 28 Vietnamese commercial banks listed on the stock market. The methods of estimating fixed effects and random effects are applied to the model with interacting variables. The research results found evidence of the strategy of scale, the strategy of capital structure, and the rate of provisioning for credit risks affecting the profitability of commercial banks during the COVID-19 period. An interesting finding in this study is that the high provisioning strategy for credit during the COVID-19 period reduced commercial banks' profits but was offset by the interaction effect of high provisioning with a net income ratio. In addition, the research also found that economic growth during the COVID-19 period was a stimulus to increase profitability for commercial banks
  • Publication
    Developing green logistic services management to achieve sustainable development in Vietnam: the role of green construction practices, green social awareness and green innovation
    ( 2023)
    Shieh‑Liang Chen, Yi‑Hsuan Lee, Gia Luat Diep, Trung Kien Tran, Thi Ha An Pham, Tran Thai Ha Nguyen
    The selection of suitable logistic service providers is essential while making strategic decision for sustainable business. Green logistic service management is the one that incorporates sustainable practices in whole operation cycle in order to maintain product quality, timely deliveries and satisfied customers. This also helps in the prevention of products from further waste that is quite necessary in the context of emerging economies. Thus, in order to assess its effectiveness, the study proposes a framework which emphasizes that the simultaneous role of green logistic services management, green construction, green innovation, and green social awareness helps in achieving sustainable development in Vietnamese context. The outcomes revealed that the green logistic services management, green construction practices, and green innovation helps to achieve sustainability in transportation industry of Vietnam due to positive linkage. The results also exposed that the green social awareness significantly moderates among green logistic services management, green construction practices, green innovation, and sustainable development of transportation industry in Vietnam.
  • Publication
    Do Bank Funding Diversity and Bank Lending Affect Net Interest Margins? Evidence From Asia Markets Before and During the Covid-19 Pandemic
    ( 2023)
    Khoa Dang Duong, Hoi Vu Le, Duy Nhat Vu, Ai Ngoc Nhan Le
    This paper investigates how bank funding diversity and lending affect bank performance, especially during the Covid-19 pan demic. We employ the Generalized Method of Moments to analyze unbalanced panels of commercial banks in China, Taiwan, and Vietnam. The empirical results show that a percentage increase in bank funding diversity and bank lending in the sample negatively affects profitability. In contrast, the results are mixed in each country due to different market microstructures. While holding diversified funding strengthens bank profitability during the pandemic, increasing lending activities dampers the bank’s performance. Finally, this research has important implications for bank managers and regulators to develop sustainable banking performance in emerging markets, especially during pandemics.
  • Publication
    DOES COVID-19 CHLLENGED THE VOLATILITY OF THE SUSTAINABLE STOCK MARKET? AN EXAMINATION OF ASIAN MARKET
    ( 2023)
    Susilo Nur Aji Cokro Darsono, Thang Le Dinh, Nguyen Trong Than, Tran Thai Ha Nguyen, Wing Keung Wong , Jenho Peter Ou.
    "The coronavirus outbreak at the end of 2019 hit many aspects of the financial sector, especially the stock market. This research examines the impacts of the COVID-19 pandemic, exchange rates, gold price, and the Brent oil price on the volatility of the Sustainable Stock Market in Asia. A quantitative research method is applied using average monthly panel data from March 2020 to April 2022, covering the COVID-19 pandemic period. We employ panel regressions and apply Feasible Generalized Least Square (FGLS) in the analysis, which also serves as a robustness check. This study contributes to the literature by examining the variables significantly impacting sustainable investing, particularly in the sustainable stock market. Empirical results find that COVID-19, gold price and the exchange rate have negatively affected sustainable stock market volatility, while the Brent oil price has a positive impact on the volatility of the sustainable stock market. This study's recommendations infer that both investors and managers should consider the increase of COVID-19 cases and frequency-varying exchange rates to the USD on the Asian sustainable stock market volatility."
  • Publication
    Dynamic association between technological advancement, green finance, energy efficiency and sustainable development: evidence from Vietnam
    ( 2023)
    Massoud Moslehpour, Talla M. Aldeehani, Amena Sibghatullah, Tran Duc Tai, Thi Thu Hien Phan & Thanh Quang Ngo
    GHG emissions growth of Vietnam is highest all over the globe and the carbon intensity of this economy is considered second highest in Asian economies. As the energy intensity level is rising constantly, thereby, the predictions indicate that Vietnam will become highest GHG emission in the region. In order to address the issue, the current article aims to investigate the impact of green finance, technology advancement, energy efficiency, industrialization, and population growth on sustainable development in Vietnamese context. The time chosen for the study is 1991 to 2020. The study has used the Dynamic Auto-regressive Distributed Lags (DARDL) and the Bayesian Auto-regressive Distributed Lags (BARDL) model for data analysis. Findings exposed that green finance, technology advancement, REO, REC, industrialization, and population growth all are positively connected with sustainable development. The study guides the regulators in establishing regulations related to sustainable development through the adoption of green finance, energy, and technology.
  • Publication
    Effect of Financial Inclusion, Eco-Innovation, Globalization, and Sustainable Economic Growth on Ecological Footprint
    ( 2023)
    Trong Lam Vu
    ;
    Ch Paramaiah
    ;
    Bushra Tufail
    ;
    Muhammad Atif Nawaz
    ;
    Nguyen Thi My Xuyen
    ;
    Pham Quang Huy
    Although economic growth, globalization, and ecological footprint are extensively researched altogether, however, the literature on the role of financial inclusion, ecological innovation along with growth and globalization is still limited specifically in the context of MENA region. Thereby, The study aims to scrutinize the dynamic association between the above-stated variables while considering a range of statistical estimations and methods. Data is gathered from 1990 to 2017 for the stated panel economies entitled under the MENA region. It is observed that there exists cross-sectional dependence, having stationarity proprieties, and slope heterogeneity for the variables of interest. Furthermore, the findings through CS-ARDL indicate the significant and direct impact of financial inclusion economic growth, and globalization through GDP in creating more environmental issues like EFP. Whereas ecological innovation is significantly playing its role in reducing ED for the selected economies. Finally, robust checks through "Augmented Mean Group and Common Correlated Effect Mean Group" have also revealed consistent findings when examined through CS-ARDL. Besides, various policy implications are also presented in this research.
  • Publication
    "Foreign Ownership, Investor Attention and the Risk-Taking Behavior of Property and Casualty Insurance Firms: Evidence From Vietnam"
    ( 2023)
    Hoang Tien Nguyen, Ai Ngoc Nhan Le, Quang Thu Luu, Ngoc Thi Thanh Nguyen, Khoa Dang Duong
    "This study enriches the current literature because it is the first to examine how foreign ownership and Investor attention affect the risk-taking behaviors of property and casualty insurance companies in Vietnam. This study is unique because it tests whether foreign ownership moderates the relationship between investor attention and the risk-taking behavior of insurance firms or vice versa. This study employs the Random Effect Models, Generalized Least Squares, Johnson-Neyman test, and simple slope analy ses to analyze 28 property and casualty insurance companies from 2010 to 2022. The findings indicate that foreign ownership and investor attention increases the risk-taking behaviors of insurance firms. Moreover, the findings indicate that foreign owner ship moderates the relationship between investor attention and the risk-taking behavior of insurance firms in Vietnam. The find ings align with agency theory, stakeholder theory, limited attention theory, and prior literature. This study supports managers and policymakers in developing the insurance sector sustainably, especially in emerging markets."
  • Publication
    Green supply chain, green leadership, consumer preferences, sustainability attitudes, and sustainable business advantage: a case of Vietnamese textile industry
    ( 2023)
    Ka Yin Chau
    ;
    Chen-Hsien Lin
    ;
    Purevdulam Altantsetseg
    ;
    Bushra Tufail
    ;
    Thi Ha An Pham
    ;
    Tran Thai Ha Nguyen
    "Surging environmental issues confiscate stakeholders’ attention due to growing competition. Sustainable performance in this regard is viewed as a suitable tool because it not only gauges firm’s financial performance but also covers social and environmental areas. However, sustainable performance cannot be achieved without creating sustainable business advantage. Green supply chain practices are known to be implemented in terms of sustainability as they are cross-looped as well as cross-organizational. The practices help in the reduction of environmental impact of business activities without compromising on quality, performance, cost, and energy usage efficiency. The reason encourages the authors to explore the role of selected green supply chain factors, customer preference, and leadership factors in shaping sustainable business advantage. The study has examined the association by adopting the quantitative research method. The researcher has gathered data from 530 employees in the purchasing department, logistics, import/export officers, and packing staff. The data was analyzed statistically by employing SPSS for preliminary analysis and AMOS for testing the structural model and the hypotheses of the study. Using confirmatory factors analysis and structural equational modeling, the researcher has analyzed the study’s measurement model and the hypotheses of the study. The findings of the research have depicted that there is a significant positive impact of lean management and green product design with sustainable business advantage. Moreover, there exists a mediation of customer preferences and leadership factors between green product design and sustainable business advantage. The study has a few limitations as well and uses a quantitative method; therefore, the study has recommended that future researchers utilize qualitative or mixed methods. The study has several theoretical and practical implications"
  • Publication
    Nexus of natural resources, urbanization and economic recovery in Asia: The moderating role of innovation
    ( 2023)
    Liu xin, Trong Lam Vu, Thi Thu Hien Phan, Muhammad Sadiq, Nguyen Thi My Xuyen, Thanh Quang Ngo
    Despite their population, Asian countries have failed to provide full economic recovery, and what recovery has occurred may be short-lived if they do not protect the environment. Asian nations’ economic recovery from the Asian Financial crisis (1997–1998) is examined in this study, with a focus on the consequences of globalization, economic growth, financial development, natural resource utilization and innovation. Econometric approaches that can handle cross-sectionally dependent panel datasets are used to determine the environmental implications of these variables over the period 1980 to 2016. This work uses the second-generation panel unit root and longrun cointegration tests for robust and reliable results. There is a mixed order of integration for the variables, which are cointegrated. The long-term regressions show increased economic recovery due to natural resource use, while technological advancement reduces economic recovery. The results suggest that financial development and eco-innovation enhance economic recovery, whereas urbanization accelerates environmental deterioration by increasing the ecological footprint. This study recommends that Asian countries become more financially incorporated, fund environmental initiatives, support environmental modernization and accelerate economic recovery rates through their energy production and consumption.
  • Publication
    Ripple effect of disruptions on performance in supply chains: an empirical study
    ( 2023)
    An Thi Binh Duong, Tho Pham, Huy Truong Quang, Thinh Gia Hoang, Scott McDonald, Thu-Hang Hoang and Hai Thanh Pham
    Purpose – The present study is performed to identify the propagation mechanism of the ripple effect as well as examine the simultaneous impact of risks on supply chain (SC) performance. Design/methodology/approach – Atheoretical frameworkwithmany hypotheses regarding the relationships between SC risk types and performance is established. The data are collected from a large-scale survey supported by a project of the Japanese government to promote sustainable socioeconomic development for the Association of Southeast Asian Nations (ASEAN) region, with the participation of 207 firms. Structural equation modeling (SEM) is used to test the hypotheses of the theoretical framework. Findings – It is indicated that human-made risk causes operational risk, while natural risk causes both supply risk and operational risk. Furthermore, the impacts of human-made risk and natural risk on performance are amplified through operational risk
  • Publication
    Risk in sustainable construction supply chains: construct development and measurement validation
    ( 2023)
    Thi Binh An Duong, Tho Pham, Quang Huy Truong, Kevin Nguyen, Cong Hiep Pham, Thu-Hang Hoang & Thanh Hai Pham
    Although previous studies have focused on different aspects of green/sustainability risk in construction supply chains (SCs) such as identification of risks or the linkage between characteristics of stakeholders and risk assessment, research on this topic is still quite limited. One important reason for this limitation is the absence of valid and reliable measurement of risk, resulting in the impossibility to discriminate between risk constructs. Therefore, the current study is performed to develop and then validate a measurement scale of risk in sustainable construction SCs. The data are collected from a large-scale survey supported by the Japanese government to promote sustainable socioeconomic development for the ASEAN (Association of Southeast Asian Nations) region, with the participation of 283 firms in Vietnam. Exploratory factor analysis (EFA) and confirmatory factor analysis (CFA) are used to test the reliability, convergent validity, and discriminant validity of the risk constructs. The results indicate that all tests strongly support the measurement scale, and seven reliable risk constructs are identified including supply, demand, internal processes, information, financial, time, and environmental risks. This study also presents opportunities for further developing research on risk management (especially the three phases: risk assessment, risk mitigation, and risk monitoring) in sustainable construction SCs.
  • Publication
    Role of financial markets and natural resource utilization in green economic recovery: Evidence from selected developing economies
    ( 2023)
    Sadeq Telfah, Ka Yin Chau, Trung Kien Tran, Anh Tuan Bui, Nguyen Tan Tai, Thi Thu Hien Phan
    Green recovery, as a key economic recuperation procedure, is viewed as an ultra-fine choice for economies as it seems to be the only passage through which nations can rebuild their economies. The study, thus, assesses the role of financial markets and natural resource utilization in green economic recovery in 20 developing nations, with full years of information from 1995 to 2020. The major findings confirm that natural resource utilization accelerates green economic recovery. Also, the uni-directional linkage of natural resource utilization and green economic recovery is confirmed, hence, enhancing the significance of resource utilization. The predicted findings also show that the financial markets and price fluctuations of land and resources are more sensitive than manufacturing capacity. The consistent waveform demonstrates the unidirectional cause-and-effect relationship between worldwide financial strategy’s volatility, supply prices, and manufacturing output. Based on the findings, the study recommends that key natural resources policies are helpful to cover green economic recovery.
  • Publication
    Security-Reliability Trade-Offs for Satellite-Terrestrial Relay Networks with a Friendly Jammer and Imperfect CSI
    ( 2023)
    Tan N. Nguyen, Dinh-Hieu Tran, Van-Duc Phan, Miroslav Voznak, Symeon Chatzinotas, Zhiguo Ding, H. Vincent Poor
    This paper proposes and analyzes the reliability and security trade-off for a satellite-terrestrial (SatTer) relay system. Herein, a satellite sends confidential information to multiple ground users (GUs) with the help of a relay base station (BS) in the presence of multiple eavesdroppers trying to wiretap the information. In particular, a friendly jammer is deployed near the relay BS to improve secure transmissions. Moreover, the non-identical Rayleigh fading channels and imperfect channel state information (CSI) are adopted for a general system model. Then, we consider both amplify-and-forward (AF) and decodeand- forward (DF) relaying strategies to give a full picture of the benefits of each method. In this context, we derive the closedform expressions of the outage probability (OP) and intercept probability (IP) corresponding to AF- and DF-based relaying schemes, which is a high challenge and has not been investigated before. Then, Monte-Carlo simulations are conducted to evaluate the correctness of the mathematical analysis and the effectiveness of the proposed methods. Furthermore, the security and reliability trade-off of the SatTer system and the influences of various system parameters (e.g., satellite’s transmit power, channel estimation errors, relay’s transmit power, fading severity parameter, the average power of light-of-sight, and satellite’s multi-path components) on the system performance are shown
  • Publication
    STUDYING CUSTOMERS' SATISFACTION WITH SERVICE QUALITY OF LIFE INSURANCE IN VIETNAM
    ( 2023)
    Mai Thanh Loan
    Purpose: Studying key factors affecting customer satisfaction based on the service quality of life insurance in Vietnam, and on that basis, the author proposed policy implications that contribute to improving customer satisfaction with the service quality of life insurance. Theoretical framework: Service quality is a factor that significantly affects customer satisfaction. If service providers provide customers with quality products that satisfy their needs, the business has initially made customers satisfied. Design/methodology/approach: Group interview method implemented in qualitative research. The study was conducted to collect the opinions of 07 managers working at life insurance companies in Vietnam. The quantitative research method used the formal study (n = 500 customers): Preliminary research sample was performed by preliminary analysis through Cronbach's alpha coefficient and EFA discovery factor to evaluate the convergent and discriminant value of the scale. This study used the structural equation model analysis (SEM) with SPSS 20.0 software and Amos. Findings: The article showed that research results bring practical value in improving customer satisfaction in Vietnam. Company leaders recognize the importance of enhancing customer satisfaction. Research, Practical & Social implications: The study has synthesized the theory of service quality and customer satisfaction. In addition, the study has systematized the relationship between the factors measuring the service quality of life insurance and customer satisfaction. Originality/value: The paper's originality and value help managers calibrate and evaluate the scale and develop it into a set of observed variables measuring the service quality of life insurance and customer satisfaction in a transition market like Vietnam. The topic contributes to a new study on customer satisfaction in life insurance services, a document for other research in the life insurance field in Vietnam.
  • Publication
    THE IMPACT OF FINANCIAL DEVELOPMENT ON ECONOMIC STABILITY: EVIDENCE FROM ASIAN COUNTRIES
    ( 2023)
    Anh Hoang Le, An Ha Thi Pham, Kim Thanh Doan, Thanh Phuc Nguyen
    In recent years, most empirical studies have explored the critical role of financial sector development in economic growth. However, the study of the relationship between the progress of the financial sector and the volatility of economic development has received very little attention. This study is the first attempt at assessing the impact of financial development on the economic stability of Asian countries. In this study, economic stability is assessed through several proxies, such as growth stability, inflation stability and exchange rate stability. Employing panel data of 22 Asian economies covering the period 2011-2019 and Bayesian analysis, the findings show that financial development significantly impacts the economic stability of Asian countries. Additionally, depending on different indicators of financial development, the impact on economic stability of countries will be different. Given these research results, policy implications for economic stability in Asian countries are proposed. Besides, to stabilize growth, the study also suggests that Asian countries need better control of the ratio of non-performing loans to the total credit of the economy
  • Publication
    The Impact of Financial development on economic stability: evidence from asian countries
    ( 2023)
    Anh Hoang Le, An Ha Thi Pham, Kim Thanh Doan, Thanh Phuc Nguyen
    In recent years, most empirical studies have explored the critical role of financial sector development in economic growth. However, the study of the relationship between the progress of the financial sector and the volatility of economic development has received very little attention. This study is the first attempt at assessing the impact of financial development on the economic stability of Asian countries. In this study, economic stability is assessed through several proxies, such as growth stability, inflation stability and exchange rate stability. Employing panel data of 22 Asian economies covering the period 2011-2019 and Bayesian analysis, the findings show that financial development significantly impacts the economic stability of Asian countries. Additionally, depending on different indicators of financial development, the impact on economic stability of countries will be different. Given these research results, policy implications for economic stability in Asian countries are proposed. Besides, to stabilize growth, the study also suggests that Asian countries need better control of the ratio of non-performing loans to the total credit of the economy.
  • Publication
    "The Nexus between Corporate Performance and State Ownership in Vietnam: Evidence of State Ownership’s Inverted U-Shape and Provincial Business Environment Influences"
    ( 2023)
    Tran Thai Ha Nguyen, Susilo Nur Aji Cokro Darsono, Gia Quyen Phan, Pham Thi Hong Van, Huyen Bach Thi, Sobar M. Johari.
    "The level of state ownership in corporations is still a controversial topic because of its duality: on the one hand, it brings resource advantages, and on the other hand, it causes agency problems. Thus, our study aims to investigate the relationship between state ownership and corpo rate performance within the Vietnamese context, unraveling the impacts of state ownership’s non linear and provincial business environment. Analyzing financial data spanning over a decade from 359 listed corporations on the Vietnamese stock markets (2010–2021), our empirical findings derived through the General Method of Moments (GMM) reveal that state ownership emerges as a potent “strategic asset” with a positive influence on corporate performance. However, a critical point is identified when state ownership surpasses the threshold of 32 percent and a decline in corporate performance ensues—a confirmation of an inverted U-shaped impact. These results substantiate the necessity of the equitization process and underscore the imperative of judiciously managing state ownership in Vietnam. Notably, our study unveils a more critical dimension: the enhanced provin cial business environment bolsters corporate performance and amplifies the positive impact of state ownership. Thus, a strategic dual approach is suggested to improve corporate performance: im proving the business environment and recalibrating the percentage of state shareholders. Our study serves as empirical evidence, referencing Vietnam and other transitional economies, toward man nerly policy decision-making related to state ownership and the business environment to boost cor porate performance. "
  • Publication
    "Towards understanding climate change: Impact of land use indices and drainage on land surface temperature for valley drainage and non-drainage areas "
    ( 2023)
    Sherif A. Abu El-Magd, Ahmed M. Masoud, Hassan Soltan Hassan, Nguyet Minh Nguyen, Quoc Bao Pham, Nils H. Haneklaus, Mark W. Hlawitschka, Ali Maged.
    The continuous increase of urbanization and industrialization brought various climatic changes, leading to global warming. The unavailability of meteorological data makes remotely sensed data important for understanding climate change. Therefore, the land surface temperature (LST) is critical in understanding global climate changes and related hydrological processes. The main objective of this work is to explore the dominant drivers of land use and hydrologic indices for LST in drainage and non-drainage areas. Specifically, the relationship between LST changes, land use, and hydrologic indices in Northeast Qena, Egypt, was investigated. The Landsat 5 and 8 imagery, Geographic Information System (GIS), and R-package were applied to identify the change detection during 2000–2021. The normalized difference between vegetation index (NDVI), bare soil index (BSI), normalized difference built-up, built-up index (BUI), modified normalized difference water index (MNDWI), and soil-adjusted vegetation index (SAVI) were employed. The non-drainage or mountain areas were found to be more susceptible to high LST values. The comprehensive analysis and assessment of the spatiotemporal changes of LST indicated that land use and hydrologic indices were driving factors for LST changes. Considerably, LST retrieved from the Landsat imaginary showed significant variation between the maximum LST during 2000 (44.82◦C) and 2021 (50.74◦C). However, NDBI has got less spread during the past (2000) with 10–13%. A high negative correlation was observed between the LST and NDVI, while the SAVI and LST positively correlated. The results of this study provide relevant information for environmental planning to local management authorities.