The impact of recentralisation on FDI : evidence from a quasi-natural experiment

This research is funded by Vietnam National Foundation for Science and Technology Development (NAFOSTED) under Grant No. 502.02-2020.09.Although decentralised governance has been one of the most salient political regimes worldwide over the past few decades, many countries have started to realise various shortcomings associated with their decentralisation process. As a consequence, a number of central governments have attempted to pursue recentralisation reforms in order to reclaim authority from the localities. This government reform can lead to significant changes in institutional arrangements, and subsequently, may influence various aspects of socio-economic activities. However, the real impact of recentralisation reform still remains ambiguous. In this paper, we examine how recentralisation may affect foreign direct investment (FDI) inflows. We exploit the pilot recentralisation reform that temporarily abolished the intermediate legislative branches in some provinces in Vietnam as a quasi-natural experiment. The result shows that recentralisation leads to a significant reduction in FDI inflows. Our results are robust to a number of sensitivity analyses and falsification tests. Overall, our findings contribute to the literature on the determinants of FDI and provide new evidence on the real effect of recentralisation reform.Publisher PDFPeer reviewe

Adherence to antiplatelet therapy after coronary intervention among patients with myocardial infarction attending Vietnam National Heart Institute

Adherence to antiplatelet therapy is critical to successful treatment of cardiovascular conditions. However, little has been known about this issue in the context of constrained resources such as in Vietnam. The objective of this study was to examine the adherence to antiplatelet therapy among patients receiving acute myocardial infarction interventions and its associated factors. In a cross-sectional survey design, 175 adult patients revisiting Vietnam National Heart Institute diagnosed with acute myocardial infarction were approached for data collection from October 2014 to June 2015. Adherence to antiplatelet therapy was assessed by asking patients whether they took taking antiplatelet regularly as per medication (do not miss any dose at the specified time) for any type of antiplatelet (aspirin, clopidogrel, ticlopidine.) during the last month before the participants came back to take re-examinations. The results indicated that the adherence to antiplatelet therapy among patients was quite high at 1 month; it begins to decline by 6 months, 12 months, and more than 12 months (less than 1 month was 90.29%; from 1 to 6 months 88.0%, from 6 to 12 months 75.43%, and after 12 months only 46.29% of patients). Multivariable logistic regression was utilized to detect factors associated with the adherence to antiplatelet therapy. It showed that patients with average income per month of $300 or more (OR=2.92, 95% CI=1.24-6.89), distance to the hospital of less than 50km (OR=2.48, 95% CI: 1.12-5.52), taking medicine under doctor's instructions (OR=3.65; 95% CI=1.13-11.70), and timely re-examination (OR=3.99, 95% CI=1.08-14.73) were more likely to follow the therapy. In general, the study suggested that to increase the likelihood of adherence to antiplatelet therapy it is important to establish a continuous care system after discharging from hospital. © 2019 Ngoc Minh Luu et al

The dynamic relationship between greenfield investments, cross-border M&As, domestic investment and economic growth in Vietnam

Funding: NAFOSTED (grant number 502.02-2020.09).This paper investigates the dynamic linkages between different types of foreign direct investment (FDI), domestic investment and economic growth in Vietnam. We decompose the aggregated FDI level into its two major components: greenfield investments, and cross-border mergers and acquisitions (M&As). The empirical results reveal that greenfield investments and cross-border M&As exhibit different impacts on economic growth. While greenfield investments appear to complement domestic investment, which subsequently promotes long-run economic growth, cross-border M&As exert a significant crowd-out effect and subsequently impede growth in both the short- and the long-run. These results provide important implications for policies to attract FDI in order to stimulate sustainable growth.Publisher PDFPeer reviewe

The impact of corruption on the performance of newly established enterprises : empirical evidence from a transition economy

This paper investigates the effects of corruption on the performance of newly established enterprises. Using longitudinal data from enterprise surveys containing virtually all firms over the period from 2011 to 2015 in Vietnam, we find that corruption deteriorates firm financial performance, and subsequently exposes them to a greater failure probability. We further find that, while corruption imposes more harmful effects on the performance and survival of private domestic firms, it exerts no significant impact on state-owned firms. On the other hand, foreign firms are also able to take advantage of corruption to enhance their performance and survivability. In addition, our results suggest that the more mature firms are better at dealing with corruption and can eventually take advantage of it to enhance their performance. The results are robust after various model specifications as well as alternative classifications of newly established firms.Publisher PDFPeer reviewe

Uloga osobina ličnosti u oblikovanju poduzetničke namjere: Komparativna studija Južne Koreje i Vijetnama

This paper investigates the role of personality traits in nurturing entrepreneurial intention in South Korea and Vietnam. We developed a research model to examine the integrated influence of both positive entrepreneurial characteristics and dark triad on entrepreneurial intention in South Korea and Vietnam. Primary data was collected from 550 students in South Korea and 700 students in Vietnam using the convenient sampling method in a self-administered questionnaire survey. We used structural equation modelling (SEM) to analyse structural relationships between positive entrepreneurial attributes, dark triads, and entrepreneurial intention in two samples. T-tests were also performed to explore any differences in students’ entrepreneurial intention in South Korea and Vietnam regarding their family background and gender. Findings showed that positive entrepreneurial attributes and dark triads influence entrepreneurial intention differently in the two countries. While the dark triad mainly influenced Vietnamese students’ intention to startup, Korean students received more impact from the positive entrepreneurial characteristics such as risk tolerance, locus of control, and entrepreneurial alertness. Surprisingly, both gender and family tradition do not affect students’ entrepreneurial intention. Based on our findings, we suggested that policymakers and higher education institutions in both South Korea and Vietnam promote students’ entrepreneurial intentions in the future.Ovaj rad istražuje ulogu osobina ličnosti u njegovanju poduzetničkih namjera u Južnoj Koreji i Vijetnamu. Razvili smo znanstveni model za ispitivanje integriranog utjecaja pozitivnih poduzetničkih karakteristika kao i utjecaj mračne trijade na poduzetničke namjere u Južnoj Koreji i Vijetnamu. Primarni podaci dobiveni anketiranjem 550 studenata u Južnoj Koreji i 700 studenata u Vijetnamu prikupljeni su korištenjem prikladne metode uzorkovanja u anketi koju su sami proveli. Koristili smo modeliranje strukturnim jednadžbama (SEM) za analizu strukturnih odnosa između pozitivnih poduzetničkih atributa, tamnih trijada i poduzetničke namjere u dva uzorka. Također su provedeni T-testovi kako bi se istražile razlike u poduzetničkim namjerama studenata u Južnoj Koreji i Vijetnamu s obzirom na njihovo obiteljsko porijeklo i spol. Rezultati su pokazali da pozitivne poduzetničke osobine i mračne trijade različito utječu na poduzetničke namjere u dvije zemlje. Dok je mračna trijada uglavnom utjecala na namjeru vijetnamskih studenata da se pokrenu, korejski studenti dobili su veći utjecaj od pozitivnih poduzetničkih karakteristika kao što su tolerancija na rizik, lokus kontrole i poduzetničke budnosti. Iznenađujuće, spol i obiteljska tradicija ne utječu na poduzetničke namjere studenata. Na temelju naših otkrića, predložili smo da kreatori politika i visokoškolske ustanove u Južnoj Koreji i Vijetnamu promiču poduzetničke namjere studenata u budućnosti

Organizational culture, competition and bank loan loss provisioning

This paper investigates how banks with different organizational cultures (defined as either control-dominant, collaborate-dominant, compete-dominant, create-dominant) manage their loan loss provisions (LLPs) in response to intensified industry competition. For identification, we utilize the change in state-level competition that followed the passage of the US Interstate Banking and Branching Efficiency Act (IBBEA) of 1994 as a quasi-natural experiment. We find that banks with a collaborate-dominant organizational culture are less likely to exercise discretion over LLPs. In contrast, banks with compete- and create-dominant organizational cultures are more likely to utilize discretionary LLPs when competition increases. Moreover, banks use discretionary LLPs to smooth income and signal private information to outsiders. Banks with collaborate-dominant organizational cultures exhibit less income smoothing. Counterparts with a create-dominant organizational culture use discretionary LLPs to signal information to outside stakeholders. Finally, banks with a create-dominant organizational culture are more likely to be subject to formal regulatory enforcement actions.Publisher PDFPeer reviewe

The impact of recentralization reform on corruption: evidence from a quasi-natural experiment

How does government recentralization reform affect corruption? We utilize the pilot recentralization reform that transforms the legislative function, power, and responsibility of the district-level authorities to the higher level of the government organ in Vietnam as a quasi-natural experiment to address the aforementioned question. We find strong evidence that recentralization reform leads to lower corruption. The result illustrates that, among the firms which have the highest probability of making a bribe payment, those incorporated in jurisdictions experiencing the recentralization reform are 4.3% less likely to pay a bribe. In addition, the perception that bribery is a common and necessary practice is also significantly lowered in the post-recentralization period. We further show that the impact of recentralization is stronger for firms which lack a political connection. Overall, these results shed light on the real impact of the government recentralization reform and also the determinants of corruption, thereby providing important policy implications for policymakers to create a more conducive business environment

Molecular phylogeny of Annonaceae species from Binh Chau-Phuoc Buu Nature Reserve based on two chloroplast gene regions

In this study, based on molecular biology techniques, the matK and trnL-F regions of ten Annonaceae species grown in Binh Chau-Phuoc Buu Nature Reserve, Vietnam were successfully amplified and sequenced for the first time. Along with other highly homologous DNA sequences from the GenBank database, the molecular phylogeny of ten studied species was also established. By using the alignment tool of NCBI database, the percentage of identity among sequences of studied species was also presented. The study aims to partially contribute to the further understanding of the evolutionary relationships among Annonaceae species

Groundwork-Based Research to Design Application SCC - Building a Sustainable Community for Children in Mountainous Area

Children’s clothing is a prime example of fast fashion, as their continuous growth requires frequent purchases. This not only impacts the environment but also puts financial strain on parents. Concurrently, many highland children lack essential material and educational resources, contributing to poverty in the region. To address these challenges, local authorities urgently require a sustainable solution that supports children, communities, and localities, fostering comprehensive development. The project development criteria are evaluated based on the United Nations’ 17 sustainable development goals (SDGs). Data was collected through an online survey of 50 married individuals, 162 non-married individuals, and interviews with those who have organized events for children in the highlands. Additionally, insights were obtained from three children from disadvantaged areas. The results indicate that all target groups show a keen interest in social activities for children. Parents facing difficulties accessing charities, and the lack of effective collaboration between charities and local authorities, hinders sustainable development efforts. Keywords: children, SDG, social sustainabilty, communit

Board Independence and Financial Performance: Empirical Evidence on Mediating Role of Market Competition From the Vietnamese Market

Purpose: The aim of this study is to examine the effect of board independence on the financial performance of companies listed on the Vietnamese stock exchanges with the mediating role of market competition.   Theoretical framework: The topic is based on agency theory, resource dependency theory and stewardship theory. The independence of the board of directors (BOD) is measured in two aspects: the duality and the non-executive members of BOD. This study approaches the measurement of market competition according to the Herfindahl-Hirschman index (HHI). After calculating the HHI, the study will classify companies in a highly competitive market or a low competitive market.   Design/methodology/approach: The study uses secondary data from the financial statements of companies listed on the Vietnamese stock market with the collection period from 2016 to 2020. The data analysis methods comprise of Pooled ordinary least squares (OLS), Fixed effects model (FEM), Random effects model (REM) and Generalized method of moments estimation (GMM).   Findings: The results of GMM showed that CEO duality is found to have a negative effect on the financial performance of listed firms. Meanwhile, the statistical evidence shows that the percentage of non-executive board members and market competition positively affect the financial performance. In addition, the evidence showed that market competition could reduce the positive influence of the percentage of non-executive board members on financial performance of listed companies.   Research, Practical & Social implications: The study has proposed some governance implications to improve the financial performance of listed firms such as limiting CEO duality, increasing the percentage of non-executive board members and empower the management board in a highly competitive market and choosing the appropriate size of the board.   Originality/value: The value of the study is to provide more scientific basis for policy makers in Vietnam and help listed companies choose and make decisions related to BOD to improve financial efficiency