The Impact of Chatbots on the Relationship between Integrated Marketing Communication and Online Purchasing Behavior in The Frontier Market

Artificial Intelligence (AI), applied in many fields, is the core of the fourth technological revolution. In business, AI is used for customer relationship management as applied in the autoresponder systems, i.e., chatbot. Chatbots were an essential tool in the marketing relationship as many companies applied this function to their website; hence, this study analyzed the influence of chatbots on the enterprise's integrated marketing communication (IMC) activities, resulting in impulse purchase behavior and repurchase intention behavior. The mixed research method was used, particularly the in-depth interview and the survey with 886 online consumers, who shop from the online websites with chatbots system in Vietnam as Tiki, Lazada, Sendo, excetera. The research results showed that the perceived usefulness and ease of use of chatbots have positively affected the attitude of online consumers to the IMC activities of businesses. Simultaneously, IMC leads to impulse buying as well as the repurchase intention behavior of customers. The study proposed some managerial implications for an online business to enhance the chatbot functions to consumer behaviors in the website. 

Forecasting stock price movement direction by machine learning algorithm

Forecasting stock price movement direction (SPMD) is an essential issue for short-term investors and a hot topic for researchers. It is a real challenge concerning the efficient market hypothesis that historical data would not be helpful in forecasting because it is already reflected in prices. Some commonly-used classical methods are based on statistics and econometric models. However, forecasting becomes more complicated when the variables in the model are all nonstationary, and the relationships between the variables are sometimes very weak or simultaneous. The continuous development of powerful algorithms features in machine learning and artificial intelligence has opened a promising new direction. This study compares the predictive ability of three forecasting models, including support vector machine (SVM), artificial neural networks (ANN), and logistic regression. The data used is those of the stocks in the VN30 basket with a holding period of one day. With the rolling window method, this study got a highly predictive SVM with an average accuracy of 92.48%

Predicting Exchange Rate under UIRP Framework with Support Vector Regression

This study aimed to forecast the exchange rate between the Vietnamese dong and the US dollar for the following month in the context of the COVID-19 pandemic. It used the Support Vector Regression (SVR) algorithm under the Uncovered Interest Rate Parity (UIRP) theoretical framework; the results are compared with the Ordinary Least Square (OLS) regression model and the Random Walk (RW) model under the rolling window method. The data included the VND/USD exchange rate, the bank interest rate for the 1-month term, and the 1-month T-bill from January 01, 2020, to September 11, 2021. The research discovered a linear link between the two nations' exchange rates and interest rate differentials. Interest rate differentials are input variables to forecast interest rate differentials. Furthermore, the connection between the exchange rate and interest rate differentials during this era does not support the UIRP hypothesis; hence, the error for OLS predictions remains large. The study provided a model to forecast future exchange rates by combining the UIRP theoretical framework and the SVR algorithm. The UIRP theoretical framework can anticipate exchange rate differentials using the input variable and the interest rates between two nations. Meanwhile, the SVR algorithm is a robust machine learning technique that enhances prediction accuracy. Doi: 10.28991/ESJ-2022-06-03-014 Full Text: PD

Electronic Loyalty In Social Commerce: Scale Development and Validation

Loyalty is an important key performance indicator to assess a business's success, especially in an online business environment with fierce competition. The explosion of social networking sites has created a new form of business: social commerce. Simultaneously, the scale of loyalty in online transactions has some limitations; hence, this research aims to develop and validate an electronic loyalty scale in the context of social commerce. The study used a mixed research method with two phases of a sequential exploratory strategy. Qualitative research generated the scale and was used in the initial filtering to develop an e-loyalty scale for social commerce. This study conducted two quantitative studies with 715 social commerce shoppers in five developed areas in Vietnam: Ho Chi Minh City, Ha Noi City, Hai Phong City, Da Nang City, and Binh Duong Province. Based on our research survey and literature review, the research results showed that electronic loyalty in social commerce is expressed in three dimensions: preference, interaction, and personal information’s disclosure. Then, the research proposed several relevant implications for other researchers and administrators of online businesses

FLIGHT-TO-QUALITY OR CONTAGION DURING U.S. SUBPRIME CRISIS: EVIDENCE FROM VIETNAM’S FINANCIAL MARKETS

Abstract: This study investigates whether contagion or flight-to-quality occurred in Vietnam’s financial markets during the US subprime crisis in 2007. We apply the asymmetric dynamic conditional correlation model (ADCC-GARCH (1,1)) to daily stock-index and bond index returns of Vietnam’s and US stock markets. We test for contagion or flight-to-quality by using a test for difference in dynamic conditional correlation means. The results show a contagion between the US and Vietnam’s stock markets, confirming the widespread influence of the US stock market on a young market like Vietnam. This result suggests a low benefit from diversification for investors holding portfolios containing assets in Vietnam’s stock market and US stock market during the crisis. Moreover, the relationship between Vietnam’s stock and bond markets represents a flight-to-quality during the US subprime crisis. This finding shows that the investors tend to hold less risky assets, i.e., bonds, instead of stocks during this turbulent period in Vietnam.Keywords: international financial contagion, flight-to-quality, Vietnam, US subprime crisis, ADCC-GARC

ECONOMIC INTEGRATION AND ENDOGENOUS GROWTH: AN EXPLANATION USING AK MODEL

Abstract: This research investigates the impacts of economic integration on endogenous growth by an application of the AK learning-by-doing model. Assuming that the knowledge that increases the productivity of labor will be created by accumulated capital, we divide economic integration into two different categories: one-way and two-way integration. The results show that two identical countries cannot have any benefits from economic integration. If two countries are different, the domestic country should only integrate with foreign countries that have a lower cost of capital of wage, or higher learning coefficient (the speed of transferring accumulated capital to knowledge) in the case of one-way integration. The same conclusion is still drawn in the case of two-way integration for two similar countries.Keywords: economic integration, endogenous growth, AK mode

Dielectrophoresis can control the density of CNT membranes as confirmed by experiment and dissipative particle simulation

In forests and membranes, Carbon nano tubes (CNT) are not individual, instead they tend to be agglomerated into bundles because of the strong van der Waals interaction. CNTs usually form into bundles containing up to hundreds or thousands of parallel CNTs named as fibres which create networks within a CNT membrane. Recently, CNT based macrostructures (yarn and membrane) have increasingly been used in various applications in electronics, medical and bioengineering. Meanwhile the volume density of CNTs impacts on mechanical and physical properties of macrostructures, the controlling of the density of membranes is very complex. Thus, in this paper, an electric processing to dilate CNT membrane is sufficiently studied and investigated by both the experiment and particle based numerical simulation. Several initially potential applications of the method are also represented not only to control the density of CNTs but also to improve the CNTs’ alignment in macro-structures

The impact of productivity on export transitions: revisited evidence from the Vietnamese manufacturing sectors

The effect of total factor productivity (TFP) on exports particularly interests policy-makers and economists, but empirical evidence is ambiguous. This paper uses the 6-wave panel data in 2010-2015 to investigate the impact of TFP on export transitions at the firm level. We distinguish different types of export transitions, namely start, stop, continuity, fluctuation, and striving, and different phases of export transition. The Generalised Method of Moments (GMM) estimation is applied to control for endogeneity and unobserved time-invariant specific components. The results reveal that (i) the effect of productivity on export (the self-selection hypothesis) is heterogeneous, depending on specific sectors and types and phases of export transitions; (ii) productivity growth does not necessarily result in positive effects on and lead to participation in types and phases of export transitions. Our results also reveal strong evidence of favourable sunk cost in long-run export striving in nearly all sectors, and unlike previous studies, empirical results show a negative effect of sunk cost in some manufacturing sectors. Policy-makers should create dynamic comparative advantages and favourable environments for new exporters, focus the relevant policies on productivity stimulus, and strengthen the likelihood of survival for the domestic firms in the competitive global markets

NOISE TRADER RISK: EVIDENCE FROM VIETNAM STOCK MARKET

Abstract: This paper investigates the existence of noise trader risk in Vietnam’s stock market and its effect on the daily returns of stock prices. The methodologies contain the estimation of GARCH (1,1) model to filter the residuals using the moving average method to calculate the impact of information traders. Noise trader risk or the risk that is caused by noise traders is derived by subtracting the residuals by the rational traders’ impact. We find that the noise trader risk does exist in Vietnam’s stock market and its impact on daily returns of stocks is unpredictable. Meanwhile, we find a positive impact of information traders on the stock returns. It increases the daily stock returns, and in turn, helps the market to correct itself because the stock prices move back to its fundamental value.Keywords: noise trader risk, GARCH (1,1), Vietnam’s stock marke