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

Effects of bribery on natural resource efficiency in Vietnam: moderating effects of market competition and credit constraints

This article uses small and medium-sized enterprises’ (SMEs) survey data in Vietnam from 2007 to 2015 to examine the effects of bribery on the natural resource efficiency of firms facing credit constraints and market competition. We also employ the disaggregated resource intensity by water, fuel, and electricity. Creditconstrained firms are broken down into those who have had formal loan applications denied (credit rationed) and those who do not apply for formal loans due to either the process being too difficult or the interest rate being too high (discouraged borrowers). Applying instrumental variable method to take into account the endogeneity problem, the empirical results provide evidence to support the ‘sanding-the-wheels of resource efficiency’ hypothesis. Among the three natural resources, inefficiency is most evident in water consumption. Furthermore, the effects become more sizable for micro-sized and informally registered firms since they have a lower bargaining power vis-a-vis public officials. Credit constraints and market competition pressure can reduce a firm’s ability to use natural resources efficientl

Welfare consequences of inconsistent monetary policy implementation in Vietnam

We develop a New Keynesian model featuring Calvo price setting and Calvo wage setting to quantify the welfare consequences of shifting trend inflation in Vietnam. To capture the characteristics of the Vietnamese economy, we use the Simulated Method of Moment and calibrate parameters jointly to match the important selected moments of Vietnamese data. The results show a severe consequence of a constant positive trend inflation and an exogenous shock to trend inflation, especially when a central bank sets a high level of inflation target. Among staggered price and wage contracts, the latter play a vital role in transmitting the adverse impacts of constant and shifting trend inflation into the economy. Based on our analyses, raising inflation targets would seem to be a bad policy prescription in Vietnam

Effects of R&D, networking and leadership roles on environmental innovation adoption in Vietnam’s SMEs

Although small and medium-sized enterprises (SMEs) constitute a majority of firms, they still have little knowledge about environmental issues and generally encounter difficulties when integrating environmental aspects into their activities. Similar arguments are also highlighted by Ha et al. in the case of Vietnam. This paper, therefore, builds a guideline for promoting SMEs’ organisational environmental innovation adoption based on Environmental Standard Certification (ESC) by investigating the effects of R&D, networking, and leadership roles in Vietnam. By using SME survey data in Vietnam from 2011 to 2015, the empirical results show that R&D spending and organisational capabilities proxied by already owning ESC are positively associated with green innovation implementation. We also find that either collaboration with different partners, including competitors, banks, and public agents or communication networks, affects firms’ decisions on green innovations. The demographic characteristics of managers such as gender, educational level, and knowledge about the environmental laws play determining roles in these decisions. Finally, we advanced the literature by indicating the moderating effects of men in leadership roles and leaders with better related knowledge on the impacts of firms’ internal resources (R&D) and firms’ international orientation (export)

Nonparametric estimation of the fragmentation kernel based on a PDE stationary distribution approximation

We consider a stochastic individual-based model in continuous time to describe a size-structured population for cell divisions. This model is motivated by the detection of cellular aging in biology. We address here the problem of nonparametric estimation of the kernel ruling the divisions based on the eigenvalue problem related to the asymptotic behavior in large population. This inverse problem involves a multiplicative deconvolution operator. Using Fourier technics we derive a nonparametric estimator whose consistency is studied. The main difficulty comes from the non-standard equations connecting the Fourier transforms of the kernel and the parameters of the model. A numerical study is carried out and we pay special attention to the derivation of bandwidths by using resampling

Determinants Influencing Consumers’ Attitude Towards Online Shopping: An Extension of the Technology Acceptance Model

This research is conducted for investigating determinants influencing consumers’ attitude towards online shopping. The survey was based on 423 Vietnamese Internet users. Data collected was analyzed in accordance with the process from Cronbach's Alpha to EFA and multiple regression technique. The results show that consumers’ attitude towards online shopping was impacted by perceived usefulness, compatibility and trust. Based on the findings, some recommendations are given for retailers to improve customers’ attitude toward online shopping in the context of Vietnam in particular and in emerging countries in general. Keywords: Attitude, Online shopping, Perceived usefulness, Trust

Quasi-optical Measurement for Low Loss Material Characterization in Submillimeter Wave Range

An accurate knowledge of dielectric constant of materials is required in many sub-millimeter wave applications. Free-space measurement of materials has always been one of the first choices due to their non-destructive nature and relatively simple sample preparation. However, free-space measurement systems at sub-millimeter frequency range suffer from two main problems: high loss because of divergent beam pattern and diffraction when the beam waist of the radiated beam is relatively large compared to the size of the sample under tests. In order to mitigate these issues, we set up a quasi-optical system using off-axis parabolic mirrors, which enhance the dynamic range and accuracy of the system. Mirrors are preferred over lenses because of their very low absorption loss. Signals from 75 GHz to 750 GHz are generated by using a vector network analyzer and a frequency extender system in six bands. Our setup consists of a pair of horn antennas operates as feed for two off-axis parabolic mirrors. Once a collimated beam is generated, we measure its characteristics using Gaussian beam mode analysis. The sample under test is then inserted midway between the two mirrors where the beam is collimated. We have measured electric permittivity of material like high-density polyethylene and polypropylene and our results highly agree with already published papers. In the future, we would like to measure some less well-known materials to see if they are suitable for sub-millimeter electronics applications