TÁC ĐỘNG CỦA QUY MÔ VÀ SỞ HỮU NƯỚC NGOÀI ĐẾN HIỆU QUẢ HOẠT ĐỘNG DOANH NGHIỆP

Bài nghiên cứu chủ yếu phân tích, đánh giá và đo lường tác động của quy mô và tỷ lệ sở hữu nước ngoài đến hiệu quả hoạt động các doanh nghiệp niêm yết trên thị trường chứng khoán Việt Nam, giai đoạn 2009 đến 2015. Nghiên cứu sử dụng kết hợp hai phương pháp định tính và định lượng. Kết quả cho thấy biến quy mô có tương quan thuận chiều, trong khi biến tỷ lệ sở hữu nước ngoài lại có tương quan nghịch với hiệu quả hoạt động doanh nghiệp (đo bằng Tobin’Q). Ngoài ra các biến về đòn bẩy tài chính, thanh khoản và số lượng nhân viên cũng có ảnh hưởng đến giá trị các doanh nghiệp niêm yết. Từ đó tác giả đã đưa ra các gợi ý, góp phần tăng hiệu quả quản lý, tăng giá trị doanh nghiệp

The Linkage between Public, Private Investment and Economic Growth—Evidence for the Developing ASEAN and Asian Countries

This study used a quantitative method to assess the impact of public investment on private investment and economic growth based on data from 18 developing countries over a 21-year period (1995-2015) by applying PVAR model combined with GMM. The findings show that all public investment and public-private partnership investments affect private investment as well as affect economic growth but the effects vary cyclically, by time period, and by group of countries.For the ASEAN developing countries, public investment crowds out private investment in short term and crowds in private investment in the medium and long term, but it crowds out public-private partnership investment. For the developing countries in Asia, public investment has a positive impact on economic growth with the inverted U-shaped pattern which stimulates growth in the short and medium term, but in the long-term effects of stimulation growth tend to decrease

Business Diversification and Financial Supply Chain Efficiency of Companies Listed on Ho Chi Minh City Stock Exchange

Abstract— This research evaluate the impact of business diversification of companies listed on HoSe from 2013 to 2017, the research has used balance panel data form of 145 listed enterprises. Business diversification is measured according to the Entropy index, measured by turnover in the Grade 2 subdivision and Level 4 subdivision according to Vietnam's industry standard. The results of the study showed that diversification would generally help improve financial efficiency, however, for those enterprises focusing on diversification outside the industry will reduce financial efficiency. In addition, the results of the study also showed that businesses increasing financial leverage for the purpose of expanding the left-sector business will be unstable, those businesses scaling up to strengthen the true diversification of businesses with experience will help increase their financial efficiency

Effect of Public Investment on Private Investment and Economic Growth: Evidence From Vietnam by Economic Industries

This study is to assess the impact of public investment on private investment and economic growth in Vietnam based on data from 22 economic industries over a 27-year period (1990-2016) by applying PVAR model combined with GMM. The results show that public investment and state sector investment (including public investment and state-owned enterprise investment for production and business activities) has the same positive impact economic growth in most economic industries in the long term, but state sector investment also creates more growth effects in the short term. Public investment has a cyclical impact on private capital stock (domestic private + FDI capital stock) and FDI investment; it has the effect of boosting domestic private investment, FDI investment in the short and long term. Meanwhile, state-sector investment has decreased the private capital stock in the short term, crowds out domestic private and FDI investments in the short term, and in the long term. Both public investment and state sector investment has the effect of increasing public debt in the long term. Based on these results we have some policy recommendations to increase efficiency of public investment and state sector investment

Using Fine-Grained Sediment and Wave Attenuation as a New Measure for Evaluating the Efficacy of Offshore Breakwaters in Stabilizing an Eroded Muddy Coast: Insights from Ca Mau, the Mekong Delta of Vietnam

Offshore breakwaters can be effective in reducing the energy of incident waves through dissipation, refraction or reflection. Breakwaters are increasingly constructed to stabilize eroded muddy coasts, particularly in developing countries. Accumulation of fine-grained sediment and wave attenuation are two attributes of a stable muddy coast. Effective interventions in stabilizing eroded muddy coasts include two important elements: accumulation of fine-grained sediment and wave reduction. The efficacy of offshore breakwaters in stabilizing eroded muddy coasts is, however, not yet adequately understood. A crucial question needing attention is whether accumulation of fine-grained sediment and wave attenuation should be used in evaluating the efficacy of these offshore breakwaters in stabilizing eroded muddy coasts. To address this issue, a pile-rock offshore breakwater in Huong Mai, Tieu Dua of Ca Mau, Vietnam was selected as an appropriate example in this regard. Accumulation of fine-grained sediment and wave attenuation were tested as means to investigate the efficacy of the Huong Mai structure in stabilizing the eroded muddy coast. The study was undertaken using field-based measurements and semi-structured interviews in three stages between October 2016 and December 2020. We found that this structure has had limited efficacy in stabilizing the eroded muddy coast. The structure was effective in dissipating the energy of incident waves, but we found no evidence of fine-grained sediment accumulation due to an inappropriate structural design. There was also no monitoring system in place, leading to difficulties in evaluating its efficacy in terms of wave attenuation and accumulation of fine-grained sediment. The gaps between the shoreline and the structure have not been adequately explained, resulting in substantial challenges in replicating the structure elsewhere. The Huong Mai structure should be strengthened using supplementary measures and granulometric tests in order to improve the efficacy in stabilizing eroded muddy coasts. The methods in this study provide new insights in this regard

Interregional Input-Output Analysis between the Mekong Delta Region (MDR) and the Rest of Vietnam (ROV)

The Mekong Delta is an important economic area, located in the southern part of Vietnam. The Mekong Delta has many potential and opportunities for development, but also new challenges in the context of global climate change, sea level rise, as well as the consequences of blocking the river and the Mekong countries also need to increase competition in international integration. In addition to these challenges, the region also has new opportunities when implementing economic restructuring in line with the policy of restructuring the economy in new conditions, including the establishment of special economic zones as PhuQuoc Resort. Besides analysis based on modern economic theory, this paper uses the input-output framework (I/O Inter-sect oral Scope Model) updated in 2016 for two areas: by the Mekong River and the Rest of Vietnam (ROV) to find inter-regional impacts and to calculate some impact assessments of climate change. The study also analyzes some other factors related to the viewpoint of sustainable regional development in new conditions, income distribution and social security

Optimal operation of Hoa Binh reservoir for flood control on Hong-Thai Binh river system

In the paper the optimal operation of Hoabinh reservoir for flood control on Hong–Thai Binh river system is presented. The findings show that in the flood season in 1996 if the operation of gates and outlets of Hoa Binh reservoir was made base on the calculated release, the water level at Hanoi would be 12.3 m and the water level of Hoa Binh reservoir would be 98 m. So the calculated release from Hoabinh reservoir in August 1996 can be considered as optimal in the mean that the water level at Hanoi can be controlled and the Hoabinh reservoir still have necessary pool for controlling the next floods

The role of orographic effects on occurrence of the heavy rainfall event over Central Vietnam in November 1999

In this study, the WRF model is used to investigate the role of Central Vietnam terrain on occurrence of the heavy rainfall event in November 1999 over Central Vietnam. Two model experiments with and without terrain were performed to examine the orographic blocking effects during the event. In the terrain experiment, the results from a three-day simulation show that the model reasonably well captures northeast monsoon circulation, tropical cyclones and the occurrence of heavy rainfall in Central Vietnam. The topography causes a high pressure anomaly intensifying northeast monsoon. When the terrain is removed, the three-day accumulated rainfall decreases approximately 75% in comparison with that in the terrain experiment. The terrain blocking and lifting effects in strong wind and moisture laden conditions combined with convergence circulation over open ocean are the main factors for occurrence of the heavy rainfall event