Factors Influencing the Green Bond Market Expansion: Evidence from a Multi-Dimensional Analysis

Expansion of green bond markets as an appropriate way to lower environmental pollution is one of the most debatable issues among scholars. However, the expansion of this market is not a simple matter and depends on several factors. The main purpose of this study is to carry out a multi-dimensional analysis using the analytic hierarchy process (AHP) method to find and prioritize factors influencing the development of green bond markets. As a case, we do our analysis for Vietnam that, since the last years, has been trying to expand green bond market as an effective investment channel to finance low-carbon projects. The main findings revealed that legal infrastructure, official interest rate of green bonds, and economic stability are the most important factors directly affecting green bond market expansion. Therefore, economic and legal requirements should be addressed by policy makers. As major policy implications, we recommend an affordable price of green bonds and improvement of economic and financial stability to accelerate the development of green bond markets

Research on factors affecting organizational structure, operating mechanism and audit quality: An empirical study in Vietnam

This research aims to determine factors affecting and the level of their influence on organizational structure, operating mechanism and audit quality in the Vietnamese market. In this paper, the methodology used by the authors is mixed method. Combination of the qualitative research method and the quantitative research method on the basis of meta-analysis and synthesis of existing information from various sources and results of interviews carried out in early 2018 using a questionnaire for 270 auditors who now work at audit firms in Vietnam. The results of the research showed that factors affecting the operating mechanism of audit firms include the legal system, quality control and internal corporate governance. Factors affecting the audit quality are the organizational structure and the operating mechanism of audit firms. Among these factors, the operating mechanism has the greatest impact on and plays a decisive role in the audit quality. In addition, the research showed that factors affecting the organizational structure of audit firms in Vietnam are unobvious

Causal links between hot money and investment markets: evidence from small-scale economy

Hot money is generally associated with economic and financial turmoil in emerging economies. In this backdrop, a number of studies document the causal links between hot money and financial markets. Accordingly, the study examines the causal relationship among hot money, equities, and real estate assets in the small-scale economy of Pakistan. For this purpose, we employ various time series techniques such as the JJ Co-integration test, Granger causality tests, Impulse Response Functions (IRF), and Variance Decomposition Analysis (VDC). The findings validate the long-term association between speculative funds and underlying investment markets. The results uncover unidirectional causality from investment markets to hot money in Pakistan. However, the lack of a bi-directional relationship among the underlying variables indicates that hot money is not a major driver of soaring prices in equities and real estate assets. Alternatively, developing the underlying markets attracts speculative cash inflows into the economy. The findings of the study highlight some useful implications for investors and regulators. For instance, the study’s findings present valuable insights for international investors seeking diversification opportunities in small-scale economies such as Pakistan. Also, the regulators in the underlying economy can utilize the study findings to formulate an optimal model to manage international capital flows

Revisiting Development of the Green Bond Market: Evidence of the AHP Approach

Green bonds (GBs) are a fresh and applicable financial instrument introduced with the purpose of funding environmental projects. In the last years, the development of GBs has shown that this is an effective investment channel for the purpose of protecting the environment. Viet Nam is an Asian economy that has been trying to establish and develop a GB market. We examine what are the most important factors influencing development of the GB market in Viet Nam. To this end, we use the analytic hierarchy process to analyze the opinions of experts. The main results reveal that the most important influencing factors are the legal framework for GB operations, monetary policies of Viet Nam’s central bank, and the official interest rate of GB. In other words, infrastructural and economic factors are the most important requirements to develop the current GB market in Viet Nam. We recommend establishing green regulations and green economic policies in the country to support the implementation of GBs in Viet Nam

Investigating solutions for the development of a green bond market: Evidence from analytic hierarchy process

Green bonds are an important financial tool for funding environmental projects through a low-carbon financing approach. This study aims to investigate various solutions for the development of the green bond market in Vietnam, which the country is currently trying to establish as an effective investment channel to finance low–carbon projects. The study's major results revealed that the presence of an efficient legal framework for green bond operations, monetary policies of the State Bank of Vietnam, and the official interest rate of green bonds are important accelerators the country can utilize to strengthen its green bond market

Evaluation of the Luminex xTAG Respiratory Viral Panel FAST v2 assay for detection of multiple respiratory viral pathogens in nasal and throat swabs in Vietnam [version 1; referees: 2 approved]

Background: Acute respiratory infections (ARI) are among the leading causes of hospitalization in children ≤5 years old. Rapid diagnostics of viral pathogens is essential to avoid unnecessary antibiotic treatment, thereby slowing down antibiotic-resistance. We evaluated the diagnostic performance of the Luminex xTAG Respiratory Viral Panel FAST v2 against viral specific PCR as reference assays for ARI in Vietnam. Methods: Four hundred and forty two nose and throat swabs were collected in viral transport medium, and were tested with Luminex xTAG Respiratory Viral Panel FAST v2. Multiplex RT-PCR and single RT-PCR were used as references. Results: Overall, viral pathogens were detected in a total count of 270/294 (91.8%, 95% CI 88.1-94.7) by the Luminex among reference assays, whilst 112/6336 (1.8%, 95% CI, 1.4-2.1) of pathogens were detected by the Luminex, but not by reference assays. Frequency of pathogens detected by Luminex and reference assays was 379 and 292, respectively. The diagnostic yield was 66.7% (295/442, 95%CI 62.1-71.1%) for the Luminex assay and 54.1% (239/442, 95% CI, 49.3-58.8%) for reference assays. The Luminex kit had higher yields for all viruses except influenza B virus, respiratory syncytial virus, and human bocavirus. High agreements between both methods [mean (range): 0.91 (0.83-1.00)] were found for 10/15 viral agents. Conclusions: The Luminex assay is a high throughput multiplex platform for rapid detection of common viral pathogens causing ARI. Although the current high cost may prevent Luminex assays from being widely used, especially in limited resource settings where ARI are felt most, its introduction in clinical diagnostics may help reduce unnecessary use of antibiotic prescription