Tạp chí tiếng Anh

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https://dlib.neu.edu.vn/handle/123456789/65946

Đang hiển thị 1 - 24 của tổng số 191 kết quả

A business-cycle model with monopolistically competitive firms and Calvo wages: lessons for Bulgaria
(Kinh Tế Quốc Dân, 2022) Aleksandar Vasilev
Purpose – The author augments an otherwise standard business-cycle model with a rich government sector and adds monopolistic competition in the product market and rigid prices, as well as rigid wages a la Calvo (1983) in the labor market. Design/methodology/approach – This specification with the nominal wage rigidity, when calibrated to Bulgarian data after the introduction of the currency board (1999–2018), allows the framework to reproduce better observed variability and correlations among model variables and those characterizing the labor market in particular. Findings – As nominal wage frictions are incorporated, the variables become more persistent, especially output, capital stock, investment and consumption, which help the model match data better, as compared to a setup without rigidities. Practical implications – The findings suggest that technology shocks seem to be the dominant source of economic fluctuations, but nominal wage rigidities as well as the monopolistic competition in the product market, might be important factors of relevance to the labor market dynamics in Bulgaria, and such imperfections should be incorporated in any model that studies cyclical movements in employment and wages. Originality/value – The computational experiments performed in this paper suggest that wage rigidities are a quantitatively important model ingredient, which should be taken into consideration when analyzing the effects of different policies in Bulgaria, which is a novel result.
A business-cycle model with monopolistically competitive firms and Calvo wages: lessons for Bulgaria
(Kinh Tế Quốc Dân, 2022) Aleksandar Vasilev
A longitudinal study of audit quality differenc es among independent auditors
(Kinh Tế Quốc Dân, 2019) Tran, Manh Dung; Khairil Faizal Khairi; Nur Hidayah Laili
Purpose – The purpose of this paper is to investigate the differences of audit quality of financial statements among auditors, including Big 4 and non-Big 4 auditors. Design/methodology/approach – By employing cross-sectional analysis of compliance (a proxy of audit quality) of goodwill impairment testing of listed firms in the context of Hong Kong, the variation of audit quality of financial statements of auditees has been shown. Findings – Audit quality of Big 4 auditors is viewed to be higher than that of non-Big 4 audit firms and the homogeneity of audit quality among Big 4 auditors is not long accepted, but variation. Practical implications – Even though unqualified opinions have been given on the auditors’ reports, the quality of financial statements audit is a skeptical issue because of the high level of non-compliance of goodwill impairment testing under International Financial Reporting Standards. Originality/value – This study does emphasize the higher audit quality of financial statements of Big 4 auditors than that of non-Big 4 auditors and stresses the variation of audit quality among Big 4 auditors.
A meta-analysis: capital structure and firm performance
(Kinh Tế Quốc Dân, 2019) Dao, Thi Thanh Binh; Ta, Dieu Ngoc Tram
Purpose – The paper aims at providing insights on the relationship between capital structure and performance of the firm by employing meta-analytical approach to obtain a synthesized result out of controversial studies as well as the sources for such inconsistency. Design/methodology/approach – Using secondary data, the analysis is divided into two main parts with concerns to the overall strength of the relationship, the effect size and the potential paper-specific characteristics influencing the magnitude of impacts between leverage and firm performance (moderators of the relationship). Overall, a total number of 32 journals, reviews and school presses were selected besides online libraries and publishing platforms. There were 50 papers with 340 studies chosen from 2004 to 2019, of which data range from 1998 to 2017. Findings – U sing H edges etal. (1985,1988), descriptive and quantitative analysis have been conducted to confirm that corporate performance is negatively related to capital decisions, which inclines toward trade-off model with agency costs and pecking order theory. The estimation induces rather small effect size that implies sufficiently large sample size to be effectively investigated. In terms of moderator analysis, random-effects meta-regression models of three different techniques are used to increase the robustness in research findings, showing statistically significant elements as publication status, factor of industry and proxy of firm performance. Originality/value – This paper is one of the first papers presenting meta-analysis in capital structure and performance for two languages, Vietnamese and English, providing a consistent result with previous worldwide papers.
A mixed data sampling approach to the asymmetric impacts of world oil price on macroeconom ic variables in Vietnam
(Kinh Tế Quốc Dân, 2020) Pham, Trinh Thi Tuyet; Le, Nhan Phan Ai
Purpose – This paper aims to analyse the asymmetric impacts of world oil price on macroeconomic variables in Vietnam, including domestic oil price, inflation and output growth. Design/methodology/approach – The mixed data sampling (MIDAS) approach is employed to examine the impact of world oil price changes on macroeconomic variables as the former is high-frequency data (daily), and the latter is low-frequency data, usually monthly or quarterly. Findings – Changes in world oil price cause asymmetric impacts on domestic oil price and inflation, but no significant effects on output growth. In terms of magnitude, a positive change in world oil price causes a stronger effect than a negative change in world oil price. In terms of timing, a positive change in world oil price causes a slow pass-through impact on domestic oil price and inflation. Meanwhile, domestic oil price and inflation decrease quickly following a negative change in world oil price. Originality/value – This study investigates the asymmetric impact of oil price on the Vietnam economy in terms of both magnitude and timing, which is not explored by previous studies. In addition, it exploits daily information of oil price changes to analyse macroeconomic variables in lower frequency by employing MIDAS approach.
A Stochastic Analysis of Vietnam Bilateral Trade Effiency
(Kinh Tế Quốc Dân, 2018) Ho, Dinh Bao; Pham, Van Minh
This paper used a stochastic frontier gravity model to evaluate the bilateral trade effiency of Vietnam using the bilateral trade data of Vietnam’s main trade counterparts in the period 2000-2015. Trade effiency means the actual trade in comparison with the trade potential. Empirical results show that Vietnam’s trade performance was signifiantly lower than the potential level. Joining the WTO did not improve trade effiency. The impact of FTAs on exploiting bilateral trade potential is heterogeneous across counterparts
A Study on Optimal Capital Structure of Vietnamese Real Estate Listed Firms
(Kinh Tế Quốc Dân, 2018) Dao, Thi Thanh Binh; Lai, Huynh Phuong
This paper focuses on those structural models with an endogenous default barrier where fims optimally choose a default boundary so as to maximize the equity value. The analysis commences to cover avowedly theoretical frameworks from pioneering works by Black-Scholes (1973) and Merton (1974) on zero-coupon debts to later extensions of those models for a more complex debt structure to include coupon perpetual bonds (Leland, 1994) and of arbitrage maturity or rolledover debts (Leland and Toft, 1996). Furthermore, this paper studies the empirical performance of capital structure models by testing the optimized gearing levels computed from those models with diffrent assumptions. Parameters of these models are estimated from the fims’ equity prices. The novelty of this paper lies in the fact that it is not merely a summary of static theories on capital structure but it is the fist of its kind to empirically study the capital structure choices of Vietnamese real estate fims, with primary focus on static models. This research follows secondary data analysis to investigate market information of stock returns and attempts to examine the potential dissimilarity in actual and proposed optimal gearing levels for the two years 2014 and 2016.
Above-Average Debt Ratio and the Relationship with Return on Equity: The Case of the Vietnamese Listed Seafood Enterprises
(Kinh Tế Quốc Dân, 2015) Nguyen, Thanh Lan; Phan, Hong Mai
Many studies have presented the relationship between the leverage of fims and return on equity (ROE) in order to analyze how signifiant leverage has inflence on the ROE of enterprises. Exploring the data set from fiancial statements and annual reports of the Vietnamese listed seafood enterprises from 2009 to 2013, the paper aims to examine the determinants of these fims having a greater debt ratio than the average of the industry. In addition, the relationship between ROE and a fim’s leverage is analyzed by applying a fied-effcts regression. It can be found that fims having an above-average debt ratio have a lower ROE than their counterparts by 50.94%
An Analysis of The Contribution of Economic Restructuring to Social Labor Productivity Growth: A Case Study of Vietnam
(Kinh Tế Quốc Dân, 2019) Le, Duc Huy
This study analyzes and proposes a method to examine the impacts of sectorial restructuring on social labor productivity (LP) growth when changing the proportion of each sector in the total output values and the value-added rates out of sector outputs. This method aims to supplement or replace the shift share analysis (SSA)1, in which the central variable is the labor structure, with an application on the output. This new approach helps to avoid errors in calculation, and considers the aggregation of growth factors rather than labor mobility itself; hence, it provides a more comprehensive explanation of the origins of productivity growth and a meaningful assessment to improve the policies on restructuring economic sectors. The research uses methods of decomposing LP growth and explains the inflence of factors contributing to productivity growth including: output restructuring, changing the quality of economic growth measured by the valueadded to gross output ratio, combination of interactions between structural change and change in value-added, and correlation between production expansion and labor attraction. The research analyzes the LP in Vietnam during 2000-2017 based on data collected from the general statistics offi (GSO). Results show that the LP growth rate of Vietnam in recent years has improved but slowly due to the ineffient economic restructuring. It sheds light on proposing recommendations to increase the social labor productivity in Vietnam.
An Application of the Data Envelopment Analysis Method to Evaluate the Performance of Academic Departments within A Higher Education Institution
(Kinh Tế Quốc Dân, 2016) Nguyen, Hoang Anh; Nguyen, Hong Ngoc
This paper aims to evaluate the effiency or the productivity of academic departments within a university using Data Envelopment Analysis. As an illustrative example, we investigate the performance of 57 departments of National Economics University (NEU) for three years, from 2013 to 2015. The data set consists of one input variable, which is the number of academic staff and three output variables in which the number of research hours is considered as research output and the number of graduates and teaching load are defied as teaching outputs. Particularly, the output-oriented CCR, BCC, and SBM model under both the CRS and VRS assumptions are applied in order to determine accurate degrees of effiency of individual departments and directions for performance improvement for less effient ones. The output-oriented radial Malmquist DEA model is also employed to make a comparative analysis of the productivity change of the departments over the period. The results reveal some clear policy-making implications for departments to adjust their development plan in an appropriate way.
An Evaluation of Provincial Macroeconomic Performance in Vietnam
(Kinh Tế Quốc Dân, 2017) Le, Quoc Hoi; Pham, Xuan Nam; Nguyen, Anh Tuan
The study was targeted at developing a methodology for constructing a macroeconomic performance index at a provincial level for the fist time in Vietnam based on 4 groups of measurements: (i) Economic indicators; (ii) oriented economic indicators; (iii) socio-economic indicators; and (iv) economic - social – institutional indicators. Applying the methodology to the 2011 - 2015 empirical data of all provinces in Vietnam, the research shows that the socio-economic development strategy implemented by those provinces did not provide balanced outcomes between growth and social objectives, sustainability and inclusiveness. Many provinces focused on economic growth at the cost of structural change, equality and institutional transformation. In contrast, many provinces were successful in improving equality but not growth. Those facts threaten the long-term development objectives of the provinces.
An investigation into the relationship between materialism and green purchase behavior in Vietnam and Taiwan
(Kinh Tế Quốc Dân, 2019) Nguyen, Thi Tuyet Mai
Purpose – The purpose of this paper is to investigate the impact of materialistic values on purchase intention (PI) toward green products among consumers in Vietnam and Taiwan, two Asian countries with different levels of economic development. Design/methodology/approach – This research employs the extended theory of planned behavior (TPB) with an integration of materialism. To serve the purpose of this study, two consumer surveys were conducted in Hanoi (Vietnam) and Taipei (Taiwan). The structural equation modeling was employed to test the proposed model and hypotheses. Findings – This study examined the impact of some antecedents of green PI among consumers in Vietnam and Taiwan, focusing on the indirect impact of materialistic values (through attitude). All five hypotheses received support from the Vietnam data, confirming the significant impacts of materialistic values (i.e. success and happiness) on attitude, and all three antecedents from the TPB model (i.e. attitude, subjective norms and perceivedbehavioral control) as positive predictors of green PI. For the Taiwan data, the findings were similar to those from the Vietnam data, except insignificant impact of success value on attitude toward buying green products. Originality/value – This research is expected to contribute to the extant literature by enriching the knowledge of the interesting and important relationship between materialistic values and green purchase behavior among consumers in two Asian markets where, to the author’s best understanding, only modest research effort has been given to explore this topic.
An Investigation on The Impact of Institutional Environment on Firm Growth in Vietnam
(Kinh Tế Quốc Dân, 2016) Ha, Van Dung
This paper investigates the impact of the institutional environment on fim growth in Vietnam. Using a fim-level dataset, the study obtains balanced panel data for 37,788 registered enterprises from a unique data set. It analyzes the effcts of institutional factors on fim growth using system GMM analysis. The study fids that in line with recent theoretical literature, institutional factors such as business support service, land access, time costs, and informal charges promote fim growth in terms of both employment and capital. This research also fids that the impact of institutional factors on fims’ capital growth is more signifiant.
An RBC model with non-Ricardian households: lessons for Bulgaria (1999–2018)
(Kinh Tế Quốc Dân, 2021) Aleksanda r Vasilev
Purpose – The authors introduce non-Ricardian (“ hand-to-mouth” ) myopic agents into an otherwise standard real-business-cycle (RBC) setup augmented with a detailed government sector. The authors investigate the quantitative importance of the presence of nonoptimizing households for cyclical fluctuations in Bulgaria. Design/methodology/approach – The authors calibrate the RBC model to Bulgarian data for the period following the introduction of the currency board arrangement (1999–2018). Findings – The authors find that the inclusion of such non-Ricardian households improves model performance along several dimensions and generally provides a better match vis-a-vis data, as compared to the standard model populated with Ricardian agents only. Originality/value – This is a novel finding in the macroeconomic studies on Bulgaria using modern quantitative methods.
Antecedents and Consequences of Adaptive Behavior of Frontline Employees in The Health Care Service
(Kinh Tế Quốc Dân, 2016) Pham, Ngoc Tram Anh; Nguyen, Tien Dung; Huynh, Thi Tram; Pham, Ngoc Thuy
Frontline employees’ adaptive behavior is essential to an interactive and customized service like health care because it contributes signifiantly to customer satisfaction and loyalty. However, less is known about what factors drive employees to perform adaptive behavior. This research aims to investigate the antecedents and consequences of adaptive behavior (including interpersonal and service offring adaptive behaviors) of frontline employees in the health care service. Based on the data of 418 cases of physicians working at public and private hospitals and clinics, the analysis reveals that interpersonal adaptive behavior is positively affcted by employee’s work enjoyment, competence, and autonomy, while service offring adaptive behavior is positively inflenced by work enjoyment and competence. In addition, both types of adaptive behavior of frontline employees have signifiant effcts on employee’s service performance. The fidings provide benefis to hospital managers. Since work enjoyment, competence, and autonomy positively affct physicians’ adaptive behavior, which then leads to better performance, adequate training on professional knowledge and interpersonal skills for health care practitioners as well as appropriate empowerment practices are highly recommended.
Application of A Probit Model in Assessing Determinants of Formal Financial Saving Behavior of Rural Households: The Case of Sinana District, Ethiopia
(Kinh Tế Quốc Dân, 2018) Mekonin Abera Negeri
This paper assesses determinants of formal fiancial saving behavior of rural households in Sinana district, Ethiopia. A random sample of 267 rural households was selected from four rural kebeles of the district. The study used both a descriptive statistics and econometric model for the analysis of primary data. The descriptive result shows that the average annual income of the respondents was found to be 55,260 ETB. Accordingly, 47.6% of the sampled households practiced a formal fiancial form of saving. The result of the Probit model depicts that the probability of practicing formal fiancial saving is positively and signifiantly inflenced by the education status of household head, annual income, annual expenditure and access to extension services. On the other hand, distance from the nearest formal fiancial institution negatively and signifiantly inflenced the probability of practicing formal fiancial saving. Therefore, interference of government and policy makers is needed to promote the awareness of rural communities about the importance of formal fiancial saving behavior
Applying the Multi-Criteria Decision Making Model for Ranking Commercial Banks: The Case of Vietnam
(Kinh Tế Quốc Dân, 2019) Truong, Thi Thuy Duong; Pham, Thi Hoang Anh
Banking has always played an important role in the economy because of its effcts on individuals as well as on the economy. In the process of renovation and modernization of the country, the system of commercial banks has changed dramatically. Business models and services have become more diversifid. Therefore, the performance of commercial banks is always attracting the attention of managers, supervisors, banks and customers. Bank ranking can be viewed as a multi-criteria decision model. This article uses the technique for order of preference by similarity to ideal solution (TOPSIS) method to rank some commercial banks in Vietnam.
Assessing the influence of exchange rate on agricultural commodity export price: evidence from Vietnamese coffee
(Kinh Tế Quốc Dân, 2020) Dang, Tuyen Trung; Caihong Zhang; Nguyen, Thi Hong
Purpose – The purpose of this paper is to evaluate the influence of VND/USD exchange rate on Vietnamese coffee export price (PVN). Design/methodology/approach – The study uses cointegration test, Granger causality test and vector autoregression (VAR) model. Findings – The results reveal that there is no co-integrating equation between two variables. It means the exchange rate does not have an effect on PVN in the long run. Furthermore, there is one Granger causality relationship between VND/USD exchange rate and PVN in the short run, but not vice versa. The study suggests that the first previous period of PVN is the most closely related variable which has the greatest impact on the variation of PVN among the selected variables, meanwhile the effect of VND/USD exchange rate on it, contrarily, is positive and very trivial. Originality/value – In overall, the impact of VND/USD exchange rate on Vietnamese coffee export price (PVN) has been analyzed deeply in this research by applying new approaches
Audit Quality Diffrences Among Auditors: The Case of Hong Kong
(Kinh Tế Quốc Dân, 2015) Tyrone M. Carlin; Nigel Finch; Tran, Manh Dung
Audits play a critical role in satisfying the public interest in strengthening accountability and supporting confience in fiancial reporting. Conventionally, audit quality is defied as a probability that fiancial statements are free from material misstatements. The existence of a positive relationship between audit fim size and audit quality has long been accepted in previous literature. This has resulted in numerous studies collecting evidence of diffrential audit quality relative to the size of audit fims, both large and small. Consequently, the conclusion has been asserted that larger audit fims produce a higher and more homogenous audit quality. The collapse of Arthur Andersen, however, has undermined the premise that large audit fims provide higher audit quality than smaller fims. This research investigates audit quality based on the extent of compliance levels with disclosure requirements pertaining to goodwill impairment of large listed Hong Kong fims in the third year transition to International Financial Reporting Standards (IFRS). The result found that audit fim identity appears to be a signifiant proportion of crosssectional variation, in which compliance levels and disclosure quality varied considerably among auditors.
Barriers to Woman Entrepreneurship in Vietnam
(Kinh Tế Quốc Dân, 2019) Bui, Huy Nhuong
Women entrepreneurs can contribute signifiantly to economic development in Vietnam. But women face unique challenges in self-employment. These challenges have not been adequately studied. The objective of this study was to identify barriers to women entrepreneurship in Vietnam and propose recommendations to enhance this endeavor in the country. A survey that included nearly 200 women-owned businesses was conducted. This study found that women entrepreneurs are running businesses well. They are currently facing barriers, such as obtaining fiance, work-home conflcts, lack of education and training in business and management skills. They furthermore indicated as their main support need the need for fiancial support, for business training and advice, and a need to network with other business owners and for marketing support. Practical recommendations are suggested for Government and women entrepreneurs to overcome these obstacles and to ensure that women entrepreneurs can suffiently contribute to the economy and empower themselves economically
Bilateral Trade Balance of Bangladesh with BRICS Countries: A Static Panel Data Analysis
(Kinh Tế Quốc Dân, 2015) Nobinkhor Kundu
This paper explores the phenomenon of gravity modeling to examine the crucial relationships between the trade balances of Bangladesh with BRICS countries. Specifially, the relative factors determining trade in the popular gravity model have effcts on the trade balance model. The trade balance depends on the relative GDP, relative per capita GNI, real exchange rate and importweighted distance proxies for transportation cost of the partner countries to the home country. Using standard panel data techniques during the 1991-2013 period, the model is empirically tested and the results show signifiant effcts of all the relative factors on the bilateral trade balance of Bangladesh in trading with BRICS countries. The robustness check of the model ensures the validity of the specifiation. The static panel data analysis explores the cross-country variations as well as the time-invariant country-specifi effcts on trade balance with heterogeneous economies and fids signifiant effcts of all relative factors on the trade balance of Bangladesh.
Capital Market Integration of Selected ASEAN Countries and its Investment Implications
(Kinh Tế Quốc Dân, 2017) Do, Quang Hung; László Kónya; M. Ishaq Bhatti
This paper investigates the dynamic integration of ASEAN6 stock markets (Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam) with international stock markets (the US, the ASEAN bloc, and Asia) in an ARMA-EGARCH-M and a vector autoregression models (VAR) using weekly price returns from January 2000 to October 2015. The interaction channels between these markets provide valuable information to investors about possible investment gateways into these ASEAN6 countries. The dependence structure of unexpected returns between the US and ASEAN6 countries, and contagion of the Global Finance Crisis (GFC) are explored in the paper. The results indicate that investors from the US and Asia could gain diversifiation benefis by investing in the stock markets of Indonesia, Malaysia, the Philippines, Singapore and Thailand. At the same time, ASEAN investors might wish to invest in Vietnam for their investment diversifiation. However, the Vietnamese market is found to be highly dependent on the US and Asian markets.
Comparative effect of short-term credit granted to agriculture on agricultural added value in the West African countries
(Kinh Tế Quốc Dân, 2022) Laurent Oloukoi
Comparative effect of short-term credit granted to agriculture on agricultural added value in the West African countries
(Kinh Tế Quốc Dân, 2022) Laurent Oloukoi
Purpose – The paper analyzes the response of agricultural value added to credit and real interest rate shocks in the West African Economic and Monetary Union (WAEMU) and make a short-term comparative effect analysis of credit granted to the agricultural sector on agricultural value added among member countries. Design/methodology/approach – First, in order to estimate impulse response functions (IRFs) and study shocks, a panel VAR model is used. Second the paper uses an autoregressive distributed lag (ARDL) model with the associated error correction model to make a comparative analysis of the effect of agricultural credit on agricultural value added in the WAEMU. Findings – Results shows that: (1) credit stimulates agricultural value added only in the medium and long term; (2) in the case of WAEMU, credit only becomes a means of lifting the constraint of capital underutilization after three years; (3) short-term credit granted to agriculture in WAEMU has a weak and differentiated effect on agricultural value added from one country to another. Practical implications – It is imperative to implement a policy of lowering real short-term interest rates. Moreover, a monetary policy that favors direct financing of agriculture to the detriment of that oriented toward market financing is to be prioritized. Originality/value – The originality of this paper is that it makes the link between macroeconomics and agriculture. It shows how the monetary instrument can be manipulated to improve the performance of agriculture. Actually, in WAEMU, the financing of agriculture is provided by the market. This paper proposes a new approach which is direct financing. The paper offers possibilities for the coordination of agricultural policies in the WAEMU.

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