Journal Articles - Business and Management - 2021

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  • Publication
    A Model for Selecting a Biomass Furnace Supplier Based on Qualitative and Quantitative Factors
    ( 2021)
    Chia-Nan Wang
    ;
    Hsin-Pin Fu
    ;
    Hsien-Pin Hsu
    ;
    Van Thanh Nguyen
    ;
    Viet Tinh Nguyen
    ;
    Ansari Saleh Ahmar
    In developing countries, solar energy is the largest source of energy, accounting for 35%–45% of the total energy supply. This energy resource plays a vital role in meeting the energy needs of the world, especially in Vietnam.Vietnam has favorable natural conditions for this energy production. Because it is hot and humid, and it has much rainfall and fertile soil, biomass develops very quickly. Therefore, byproducts from agriculture and forestry are abundant and continuously increasing. However, byproducts that are considered natural waste have become the cause of environmental pollution; these include burning forests, straw, and sawdust in the North; and rice husks dumped into rivers and canals in the Mekong Delta region. Biomass energy is provided in a short cycle, is environmentally safe to use and is encouraged by organizations that support sustainable development. Taking advantage of this energy source provides energy for economic development and ensures environmental protection. Due to the abovementioned favorable conditions, many biomass energy plants are being built in Vietnam. Like other renewable energy investment projects, the selection of the construction contractor, the selection of equipment for the installation of the power plant, and the choice of construction site are complexmulti-criteria decisions. In this case, decisionmakers must evaluate many qualitative and quantitative factors. These factors interact with each other and it is difficult to use personal experience to choose the optimal solution for such complex decision-making problems, especially in a fuzzy decision-making environment. Therefore, in this study, the authors use a Multi-Criteria Decision-Making (MCDM) model that uses a Fuzzy Analytic Hierarchy Process (FAHP) model and the Combined Compromise Solution (CoCoSo) algorithm to select biomass furnace suppliers utilizing both qualitative and quantitative factors. Furthermore, the results of this work will provide the first look at a hybrid CoCoSo/FAHP method that decision-makers in other fields can use to find the best supplier
  • Publication
    A Multicriteria Decision-Making Model for the Selection of Suitable Renewable Energy Sources
    ( 2021)
    Chia-Nan Wang
    ;
    Jui-Chung Kao
    ;
    Yen-Hui Wang
    ;
    Van Thanh Nguyen
    ;
    Viet Tinh Nguyen
    ;
    Syed Tam Husain
    With the expansion of its industrial and manufacturing sectors, with the goal of positioning Vietnam as the world’s new production hub, Vietnam is forecast to face a surge in energy demand. Today, the main source of energy of Vietnam is fossil fuels, which are not environmentally friendly and are rapidly depleting. The speed of extraction and consumption of fossil fuels is too fast, causing them to become increasingly scarce and gradually depleted. Renewable energy options, such as solar, wind, hydro electrical, and biomass, can be considered as sustainable alternatives to fossil fuels. However, to ensure the effectiveness of renewable energy development initiatives, technological, economic, and environmental must be taken in consideration when choosing a suitable renewable energy resource. In this research, the authors present a multi-criteria decision-making model (MCDM) implementing the grey analytic hierarchy process (G-AHP) method and the weighted aggregates sum product assessment (WASPAS) method for the selection of optimal renewable energy sources for the energy sector of Vietnam. The results of the proposed model have determined that solar energy is the optimal source of renewable energy with a performance score of 0.8822, followed by wind (0.8766), biomass (0.8488), and solid waste energy (0.8135) based on the calculations of the aforementioned methods.
  • Publication
    A Spherical Fuzzy Analytic Hierarchy Process (SF-AHP) and Combined Compromise Solution (CoCoSo) Algorithm in Distribution Center Location Selection: A Case Study in Agricultural Supply Chain
    ( 2021)
    Phan Thuy Kieu
    ;
    Van Thanh Nguyen
    ;
    Viet Tinh Nguyen
    ;
    Thanh Phong Ho
    Logistics is an important service sector, contributing to improving the competitiveness of the economy. Therefore, along with increasing the application of technology and effective business models, it is necessary to increase the connectivity of the infrastructure systems of industrial parks, roads, and seaports of regions and the country. Over the past decades, Vietnamese businesses have been step-by-step going through many stages from production, packaging, quality, hygiene, and safety to grasping new stages in the domestic and global value chain. In many industries, businesses are increasing the content of their own designs, exploiting brands, and approaching consumption networks in the target market. The role of the distribution center is becoming more and more important in ensuring a seamless and flawless supply chain. In particular, the distribution center is the most sensitive contact point between supply and demand in each enterprise. Therefore, the key mission of a distribution center is to reconcile supply and demand requirements. Distribution center location selection problems usually involve multiple quantitative and qualitative criteria that the decision maker must take into account for assessing the symmetrical impact of the criteria to reach the most accurate result. In this study, the authors propose a hybrid MCDM model based on Spherical Fuzzy Analytic Hierarchy Process (SF-AHP) and Combined Compromise Solution (CoCoSo) Algorithm to support the distribution location selection problem of perishable agricultural products. The proposed model is then applied to the numerical case study of the sweet potato product of the Mekong Delta region of Vietnam to demonstrate the feasibility of the model. The contribution of this research is to propose an MCDM model for improving the efficiency of the agricultural supply chain through selecting a location distribution center. This proposed model can be applied to the agricultural supply chain around the world.
  • Publication
    An Application of the Boyer Model in Developing Business Faculty in Accreditation Council for Business Schools and Programs (ACBSP) Accreditation in Vietnamese Membership Institutes
    ( 2021)
    Hieu Minh Vo
    ;
    Anh Bao The Luu
    ;
    Nhung Hong Nguyen
    The Council for Business Schools and Programs (ACBSP) is an accrediting body that assesses the quality and integrity of business-related training programs at educational institutions. As ACBSP applied the Boyer model in evaluating, categorising the business faculty, forcing the faculties to develop the quality of their human resources indirectly, improved education quality. This paper was written to reflect how the Boyer model was applied in business faculties in Vietnamese member institutes and how the institutes are changing to fulfill the standards. The methodology that would be used to analyze the secondary data is descriptive analysis. The data is collected under the acceptance of those institutes. The primary data could be deep interviews with faculty managers, faculty members, board of management of the institutes. In order to be more convincing, the research would also pick some ACBSP members as empirical studies. The findings of the research are the trends of the faculties and the lesson withdrawn from their changing experience.
  • Publication
    An Empirical Study on Consumer Behavior towards Food and Beverage Services in Vietnam
    ( 2021)
    Dương Nam Tiến
    ;
    Phạm Thị Thùy Dung
    Vietnam is an ideal place in Southeast Asia to expand the food and beverage (F&B) business thanks to stable politics, favorable economic conditions, a young population, and an increasing middle class. Yet Vietnam still poses challenges for the F&B industry wanting to invest in the country. The study aims to identify and evaluate the factors impacting consumer behavior towards F&B services in Vietnam, particularly emerging F&B services. Based on previous studies, we proposed six factors (social influence, service, price, food, atmosphere, and location with 26 observed items) in F&B services that may have a big impact on consumer behavior. The data is collected from 300 consumers who used to use local F&B services. The findings show that socialinfluence, service, price, and food are the four most influential factors. The other two factors such as atmosphere and location have no significant impact on consumer behavior. Besides, there is no difference between consumer groups in terms of income and age. Hence, the current study offers practical insights into the factors that have a significant impact on consumer behavior in F&B services. As such, the findings of this study could assist practitioners in developing a strategic business plan for sustainable development in the F&B industry.
  • Publication
    Analysing Liquidity, Credit Risk and Deposit Money Banks Profitability in Nigeria
    ( 2021)
    Hieu Minh
    This study examined the impact of liquidity and credit risk on profitability of selected deposit money banks(DMBs) in Nigeria. The study adopts an empirical longitudinal research design and used data set covering 7-year period from 2012 to 2018 from the annual reports of five DMBs. Pearson Correlation and multiple regression techniques were used in empirical analysis and testing of hypotheses. The result shows that there is a significant relationship between liquidity and profitability measured as return on equity (ROE). There is an insignificant relationship between credit risk variables and profitability (ROE). The paper recommends that optimal level of liquidity should be maintained to reduce cash sterility in the assets of banks. Though credit risk is not a main determinant of bank profitability; effective strategies should be put in place to monitor, control and manage credit risk.
  • Publication
    Application of Industrial Engineering Technique for Better Productivity in Garment Industry
    ( 2021)
    Nguyen Viet Tinh
    ;
    Syed Tam Husain
    ;
    Nguyen Van Thanh
    In recent years, with the strong development of the industry, it has created a competitive market. To be able to stand and survive requires businesses to create their own charisma based on the products they create must have the quality, cost and speed quickly. To do that requires businesses to have proper production strategies. Especially for the garment industry, which has a lot of waste in the production process that needs to be eliminated. This study focuses on the construction of standard time sets and standard activities to help eliminate wasted time on hand movements and time spent by workers. The result ca be used to develop the standard operation procedures of the production process.
  • Publication
    Assessing the nexus mechanism between energy efficiency and green finance
    ( 2021)
    Dongyang Zhang
    ;
    Ala Eldin Awawdeh
    ;
    Muhammed Sajjad Hussain
    ;
    Quang-Thanh Ngo
    ;
    Vu Minh Hieu
    The objective of this study is to measure the energy efficiency index based on green finance data from 114 listed companies of China during 2009 to 2018 by using the slack-based data envelopment analysis (DEA) model to measure the energy efficiency and econometric estimation to measure the impact of debt and equity financing. The proposed research study purpose is to develop a comprehensive assessment financing efficiency index based on energy efficiency index. Results shows that 1% increase in equity financing increases the financing efficiency by 0.002, while bond financing is negatively associated with financing efficiency, whereas 1% rise in debt financing decreases the financing efficiency by −0.019 whereas coefficients of bank financing and market capitalization. Jilin and Shandong provinces are best-performing provinces in terms of financing efficiency, whereas the Henan and Hubei provinces are worst-performing provinces in overall sample. For every 1% increase in research and development, Jilin and Shandong reduce carbon dioxide emissions by considerable amount, respectively. The key findings indicate that banks continue to dominate the Chinese credit industry. A significance of arithmetic mean aggregation as mathematical tool and DEA to construct an eco-friendly index of Chinese have been discussed. The proposed research study highlights irregularities of data issues and to follow appropriate properties index number. The current study may fit in the broader spectrum and developing an ecofriendly index and developing the ranking index based on multiple indicators.
  • Publication
    Assessing the nexus mechanism between energy efficiency and green finance
    ( 2021)
    Dongyang Zhang, Ala Eldin Awawdeh, Muhammed Sajjad Hussain, Quang‑Thanh Ngo, Vu Minh Hieu
    The objective of this study is to measure the energy efficiency index based on green finance data from 114 listed companies of China during 2009 to 2018 by using the slack-based data envelopment analysis (DEA) model to measure the energy efficiency and econometric estimation to measure the impact of debt and equity financing. The proposed research study purpose is to develop a comprehensive assessment financing efficiency index based on energy efficiency index. Results shows that 1% increase in equity financing increases the financing efficiency by 0.002, while bond financing is negatively associated with financing efficiency, whereas 1% rise in debt financing decreases the financing efficiency by −0.019 whereas coefficients of bank financing and market capitalization. Jilin and Shandong provinces are best-performing provinces in terms of financing efficiency, whereas the Henan and Hubei provinces are worst-performing provinces in overall sample. For every 1% increase in research and development, Jilin and Shandong reduce carbon dioxide emissions by considerable amount, respectively. The key findings indicate that banks continue to dominate the Chinese credit industry. A significance of arithmetic mean aggregation as mathematical tool and DEA to construct an eco-friendly index of Chinese have been discussed. The proposed research study highlights irregularities of data issues and to follow appropriate properties index number. The current study may fit in the broader spectrum and developing an ecofriendly index and developing the ranking index based on multiple indicators.
  • Publication
    Ảnh hưởng của kinh doanh qua mạng đối với công tác quản lý thuế hiện nay tại Việt Nam
    ( 2021)
    Phạm Thị Thu Huyền
    Bên cạnh những lợi ích mang lại như: làm giảm chi phí bán hàng, tiếp thị, giảm lượng hàng lưu kho, tăng khả năng cạnh tranh, chăm sóc khách hàng… mô hình này cũng tạo ra một áp lực không nhỏ đối với công tác quản lý thuế, nhất là việc thanh tra, kiểm tra thuế. Trên cơ sở phân tích những đặc điểm việc kinh doanh qua mạng hiện nay, bài viết đưa ra một số kiến nghị góp phần nâng cao hiệu quả của công tác quản lý thuế hiện nay đối với mô hình kinh doanh này.
  • Publication
    Bank competition and the credit channel of monetary policy: Evidence from an emerging country
    ( 2021)
    An et al.
    Our study provides one of the first examinations in an emerging country on the credit channel of monetary policy transmission under the influence of competition. The study was conducted using a panel data of 30 joint-stock commercial banks in Vietnam in the period of 2008-2017. By applying the DGMM estimation method, we found that the existence of the influence of competition on monetary policy transmission through credit channels. The higher bank competitiveness will make monetary policy transmission via credit channels of commercial banks less effective. Large-scale commercial banks, because of a merger or equity increase, will increase their competitiveness because of increased market share, which will weaken the monetary policy transmission through credit channels. The estimation results from the two methods of competitiveness measurement-the Lerner index and the Boone index–are in a united direction but at different levels.
  • Publication
    Brand Building and Development for the Group of Asian International Education in Vietnam
    ( 2021)
    Trần Thị Thùy Trang
    Brand building is an important marketing activity for business organizations. It is also important for private educational institutions in Vietnam where one of the leading and dynamically developing is the Group of Asian International Education (GAIE). In this article, we introduce readers to the specific process branding, brand building and development of this unique education group in Vietnam as a role model for other private international educational institutions to refer to, to consult and to follow current track of development.
  • Publication
    Can Customer Relationship Management Create Customer Agility and Superior Firms’ Performance?
    ( 2021)
    The growing importance of Customer relationship management (CRM) and agility in any business are universally accepted and extensively investigated in different disciplines. However, lacking empirical evidence for the suggested theoretical framework of agility and their interrelationships with CRM and superior’s financial performance hinders its application in the practices. Thus, this study attempted to address this issue by drawing on the Resource-Advantage theory of sustainable competitive advantages to examine a mechanism through which CRM implementation can generate sustainable competitive and achieve superior financial performance using the Vietnamese tourism industry context. The framework was tested on data collected from 231 Small and Medium Enterprises (SMEs) using Partial Least Square Structural Equation Modeling (PLS-SEM). Findings suggested that different types of CRM processes do not equally influence customer agility, and not all attributes of customer agility exert positive impacts on firms’ performance as well. Also, CRM performance measurement systems were found to moderate these effects positively and substantially. Several practical implications were also derived from the research findings.
  • Publication
    Các nhân tố ảnh hưởng đến thiết kế hệ thống kế toán quản trị tại các doanh nghiệp dệt may tại Bình Dương
    ( 2021)
    Nguyễn Nhã Quyên
    Kế toán quản trị là một công cụ quản lý hiệu quả giúp cho các doanh nghiệp Việt Nam trong việc xây dựng các phương án sản xuất và kinh doanh, quản lý chi phí và ra các quyết định kinh doanh. Ngành công nghiệp dệt may là một ngành công nghiệp đóng góp cao trong nền kinh tế. Vì vậy, đòi hỏi việc thiết kế một hệ thống kế toán quản trị (HTKTQT) hiệu quả là yêu cầu thiết yếu. Muốn thiết kế được HTKTQT hiệu quả, cần biết được những nhân tố nào tác động đến nó. Do đó, bài viết phân tích và xác định những nhân tố quan trọng cần chú ý khi thiết kế một HTKTQT.
  • Publication
    Các phương pháp trích khấu hao tài sản cố định theo chuẩn mực kế toán quốc tế
    ( 2021)
    Phan Minh Nguyệt
    Bài viết nghiên cứu sự khác biệt giữa Chuẩn mực kế toán quốc tế (IAS) 16 với IAS 38, cũng như quy định của Việt Nam về các phương pháp trích khấu hao, từ đó đề xuất kiến nghị áp dụng các phương pháp khấu hao phù hợp với thực tiễn Việt Nam.
  • Publication
    Detecting Anomalies in the Dynamics of a Market Index with Topological Data Analysis, International Journal of Systematic Innovation
    ( 2021)
    Ngoc Kim Khanh Nguyen
    ;
    Marc Bui
    "We investigate the collective behavior of a stock market by studying the dynamics of its representative index’s return, using the persistence diagram of the index return’s time-delay embedding, an approach of the Topological Data Analysis (TDA) in time series analysis. While the time-delay embedding captures the state space of the index return’s dynamics, the persistence diagram encodes the space's topological information under different spatial resolu-tions. Therefore, based on the changes in the point distribution of the persistence diagram over time, we propose a framework to detect its extraordinary movements. Our method provides a measure for the stability level of the mar-ket’s collective behavior. After applying this method for the daily return of the S&P 500 index from 1970 to 2020, we demonstrate that the measure efficiently tracks the changes in topological information of the index re-turn. Furthermore, we can capture major American recessions when the measure exceeds a threshold. A continuous and rapid increase of the measure approaching the threshold is considered a warning of a crisis. Hence, our method provides a technical indicator for systematic risk management."
  • Publication
    Determinants of Firm Value: An Empirical Study in Listed Trading Companies in Vietnam
    ( 2021)
    Nguyen Thi Ngoc Lan
    This study aims to investigate the importance of firm value and the factors that affect the firm value of trading companies listed on the Vietnamese stock exchange, thereby enhancing the current literature related to this topic in our country. The factors that affect firm value include firm size, capital structure, profitability, sales, and liquidity whereas firm value is represented by the value of equity. This work employed a data set with 925 observations, which are trading firms listed on the Vietnam Stock Exchange over a nine-year period from 2011 to 2019 with the support of STATA version 2016. Applying the quantitative method, we first find that firm size is of the greatest importance to firm value. It refers that the value of a large company is of a higher rank than a small company. On the other hand, capital structure is found to have a negative impact on firm value. Furthermore, we find that the other independent variables (profitability, sales, and liquidity) are statistically insignificant in the regression model. This means that those mentioned factors do not affect firm value. More importantly, the research also suggests that both firm size and capital structure are crucial for firm value in the trading industry in Vietnam.
  • Publication
    Determining factors affecting the transition of financial statement preparation from VAS to IFRS in enterprises in Vietnam
    ( 2022)
    Duy Thuc Nguyen
    ;
    Thi Tha Nghiem
    ;
    Thanh Long Tran
    ;
    Duc Hai Nguyen
    ;
    Thi Le Hang Nguyen
    According to the Ministry of Finance's roadmap for applying IFRS in Vietnam, listed enterprises on the stock market and state-owned enterprises holding the dominant power are the first group of enterprises to alter the preparation of financial statements according to Vietnamese Accounting Standards (VAS) to the application of International Financial Reporting Standards (IFRS). The voluntary application period is from 2022 to 2025 and the period after 2025 will be the mandatory one. This study was conducted to determine the factors affecting the transition from preparing financial statements following VAS to IFRS for this group of enterprises. The study involved surveying managers and chief accountants at 120 enterprises belonging to the group of companies listed on the stock market, state-owned enterprises holding the dominant power, with the adoption of a regression analysis method. The research results show that five factors are affecting the transition of financial reporting from VAS to IFRS in this group of enterprises, with the order of influence being ranked from high to low, respectively as (i) Size and operation characteristics of the enterprise; (ii) Competence of accountants; (iii) Viewpoints of the enterprise administrators; (iv) Applied accounting regime, and (v) Enterprise owners. On that basis, the study proposes some recommendations for the transition from preparing financial statements according to VAS to IFRS for enterprises to meet the Ministry of Finance's roadmap for IFRS application.
  • Publication
    E-Banking Service Quality and Customer Satisfaction: Evidence from Deposit Money Bank in South-South Nigeria
    ( 2021)
    Mary Shadrach Omofowa
    ;
    Shadrach Omofowa
    ;
    Chijioke Nwachukwu
    ;
    Van Le
    The study examines the connection between Electronic Banking service quality and customer satisfaction. The study used a survey research approach. 344 participants were selected randomly for the study. The data from 302 respondents suggest that E-banking service quality dimensions (innovation, technology competence, reliability and tangibility jointly influence customer satisfaction. Further, innovation, technology competence, reliability and tangibility had positive and significant effects on customer satisfaction. All four hypotheses were supported. We, therefore, conclude that deposit money banks must optimise their E-banking service to improve customer satisfaction.
  • Publication
    Effect of Encouragement-based Management Mechanism on Construction Firms’ Manpower Development: An Empirical Study from Vietnam
    ( 2021)
    Chau Ngoc Dang
    ;
    Long Le-Hoai
    ;
    Vachara Peansupap
    The construction industry should seek to enrich its workforces due to the increasing lack of trained and skilled employees. This study attempts to investigate the relationship between encouragement-based management mechanism (EMM) and manpower development (MD) in construction firms and examine the moderating effect of firm size on this relationship by conducting bivariate Pearson correlation and hierarchical multiple regression analyses to analyse empirical data collected from 79 construction firms in Vietnam. The results show that EMM positively affected MD, and this positive effect was stronger in small/medium-sized construction firms than in large firms. The findings could provide construction firms in Vietnam, as well as other developing countries, with a better understanding of the effect of EMM on MD. Hence, they could establish appropriate and wise encouragement-based strategies to enhance their manpower. This study could contribute to the extant literature on construction manpower development by providing empirical evidence of the EMM−MD relationship in the context of construction firms.