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This chapter provides information on the development of Vietnamese education under the influence of global forces based on the analysis of relevant education research and policies using Wolhuter’s frameworks. In the process of coming up with ways to develop education in the face of different influences of globalization, besides having reactions with patterns commonly found in countries around the world, Vietnam also has responses that reflect its own political, sociocultural and economic characteristics. The state still plays a controlling role in education at all levels and many culture-related features that have existed throughout the country’s history have hardly changed, namely aspects related to teachers, learners and teaching and learning methods. To sustain its education in the globalized era, Vietnam must make more efforts in various aspects such as the link between education and employment, the logic of education objectives, the feasibility and appropriateness of curricula, quality of education, especially of higher education and equality in education for underprivileged groups.

In the stock market, herding behavior occurs when investors mimic the actions of others in their investment decisions. As a result, the market becomes inefficient and speculative bubbles form. This study aims to investigate the relationship between information, overconfidence, market sentiment, experience and national culture, and herding behavior among Malaysian investors. A total of 400 questionnaires are distributed to bank institutions' investors. The survey design based on cross-sectional data is analyzed using the Partial Least Squares Structural Equation Model. The results indicate that information, market sentiment, experience, and national culture are positively related to herding behavior, while overconfidence has no effect. With this, the government should strengthen regulations to prevent the dissemination of misleading information. Moreover, investors are encouraged to overcome narrow thinking by expanding their understanding of different cultures when making investment decisions.

We take a state-stewardship view on corporate governance and executive compensation in economies with strong political involvement, where state-appointed managers act as responsible “stewards” rather than “agents” of the state.

We test this view on China and find that Chinese managers are remunerated not for maximizing equity value but for increasing the value of state-owned assets.

Managerial compensation depends on political connections and prestige, and on the firms’ contribution to political goals. These effects were attenuated since the market-oriented governance reform.

Economic reform without reforming the human resources policies at the executive level enables the autocratic state to exert political power on corporate decision making, so as to ensure that firms’ business activities fulfill the state’s political objectives.

As a powerful social elite, the state-steward managers in China have the same interests as the state (the government), namely extracting rents that should adhere to the nation (which stands for the society at large or the collective private citizens).

As China has been a communist country with a single ruling party for decades, the ideas of socialism still have a strong impact on how companies are run. The legitimacy of the elite’s privileged rights over private sectors is central to our question.

Chinese executive compensation stimulates not only the maximization of shareholder value but also the preservation of the state’s interests.

A total of 12 chapters in this volume represent some current research on important topics in finance and economics. Bajaj et al. demonstrate through a time series analysis that the IPO underwriting spreads seem to be competitive, in contrast to the findings of Chen and Ritter (2000). Sealey argues that it is necessary for the regulator and deposit insurer to be an integral part to mitigate the moral hazard problem in bank regulation. Lee develops a multi-period pricing model to examine the impact of forbearance and potential moral hazard behavior on the cost of deposit insurance. Hao and Roberts show that lead lenders have significant positive influence on loan yield spreads. Daly et al. show that coincident indicators developed to track a state's gross outputs have significant influence on state-level aggregate bank performance.

The Association of Southeast Asian Nations (ASEAN) members want to efficiently promote the flow of commodities and personnel within its service areas under given limited resources. Based on panel data from 2007 to 2014, this study applies the output-oriented data envelopment analysis method and focuses on the disaggregated output efficiencies of 42 ASEAN airports. Results show that the international airports of ASEAN members have significantly better output efficiency for passenger and movement output than regional airports. This work provides a relatively fair perspective in evaluating ASEAN’s airport operating efficiency. It helps policymakers measure the frontier forward or backward shift of an airport over the research period, in order to reveal the characteristics of airport efficiency and to present a new interpretation along with managerial implications.

When college entrance examinations act as gatekeepers to modern-sector jobs, the entire education system then becomes oriented toward these examinations. This occurs at the expense of learning for the sake of learning and other aspects of education that address the holistic development and well-being of students. In recent years in China, there has been growing concern that examination competition has compromised the quality of classroom teaching and learning and is detrimental to the development of skills necessary for the global knowledge economy. These concerns have given rise to a far-reaching set of education reforms known as the New Curriculum reforms which have aimed to move students to the center of teaching and learning and to transform teaching and learning so as to foster such capacities as creativity, innovation, collaboration, self-expression, engagement, enjoyment of learning, inquiry skills, problem-solving abilities, and ability to apply knowledge in practice. In this chapter, we use videotaped high school New Curriculum demonstration lessons to examine teaching and learning practices that are regarded as exemplary in the current reform context. We investigate how teachers are negotiating the competing demands of preparing students for the examinations and addressing the aims of the New Curriculum reforms. The nature of student participation in the classroom emerges in the analysis as a key indicator of the success of this negotiation.

American depository receipts (ADRs) listed on the New York Stock Exchange during the 1990s and 2000s are compared to determine how well they performed versus the US index and respective regional indexes utilizing three-year holding period excess returns. Results suggest that ADRs listed in the 2000s perform better than those in the 1990s. Also, seasoned equity offerings performed better than initial public offerings. Regression analysis indicated the best predictors of ADR performance are the returns of the respective regional index where the ADR-listing firm is headquartered, the date of issue (2000s vs 1990s), and whether the ADR was from an emerging economy.

The purpose of this chapter is to explore the effects of COVID-19 pandemic on tourism and hospitality. Motivation of the researchers in constructing the chapter was to logically alert the present-day and future world tourism and hospitality business leaders on how to respond to the disruptive forces attributed to deadly viral pandemics like that of COVID-19 pandemic. The purpose being to draw conclusions and identifying the research gaps. It is based on a structural analysis methodology to frame the categories of the major analysis in combination with scientific rigour to a broad and complex problem. Research results proved that the primary effects of COVID-19 pandemic on tourism and hospitality industry include technology disruption, globalisation problems and logistical inefficiencies. Implications to contemporary tourism and hospitality industry business leaders include bringing-in technologies, incubating survival plans of actions. The study results underscore the necessity of understanding effects of COVID-19 pandemic on tourism and hospitality so as to craft both proactive and reactive strategic stances. The research contributes to literature and theoretical novel introspections into the depth and breadth of how various tourism and hospitality industry metamorphoses can lead to navigation and survival in such COVID-19 pandemic environments.