Search results

The purpose of this paper is to present the method for efficient computation of risk measures using Fourier transform technique. Another objective is to demonstrate that this technique enables an efficient computation of risk measures beyond value-at-risk and expected shortfall. Finally, this paper highlights the importance of validating assumptions behind the risk model and describes its application in the affine model framework.

The method proposed is based on Fourier transform methods for computing risk measures. The authors obtain the loss distribution by fitting a cubic spline through the points where Fourier inversion of the characteristic function is applied. From the loss distribution, the authors calculate value-at-risk and expected shortfall. As for the calculation of the entropic value-at-risk, it involves the moment generating function which is closely related to the characteristic function. The expectile risk measure is calculated based on call and put option prices which are available in a semi-closed form by Fourier inversion of the characteristic function. We also consider mean loss, standard deviation and semivariance which are calculated in a similar manner.

The study offers practical insights into the efficient computation of risk measures as well as validation of the risk models. It also provides a detailed description of algorithms to compute each of the risk measures considered. While the main focus of the paper is on portfolio-level risk metrics, all algorithms are also applicable to single instruments.

The algorithms presented in this paper require little computational effort which makes them very suitable for real-world applications. In addition, the mathematical setup adopted in this paper provides a natural framework for risk model validation which makes the approach presented in this paper particularly appealing in practice.

This is the first study to consider the computation of entropic value-at-risk, semivariance as well as expectile risk measure using Fourier transform method.

The purpose of this study is to examine how use of agriculture information systems could impact farmers' intention to convert from traditional to organic agriculture production in the mountainous areas of Northern Vietnam, based on a research framework developed from integrating Diffusion of Innovation Theory and Theory of Planned Behavior. Specifically, the authors aim to test the direct impact of use of agriculture information systems on converting intention and the interaction between use of agriculture information systems and perceived economic benefits, perceived non-economic benefits of organic production and market access on the formation of converting intention.

Data were collected from a sample survey that included 634 agriculture-producing households in Thai Nguyen, Tuyen Quang and Cao Bang provinces of Northern Vietnam. The logistic regression was used for data analysis.

Research findings indicate that perceived economic benefits, non-economic benefits, market access and use of agriculture information systems positively support the converting intention. Moreover, the use of information systems strengthens the links between the converting intention and perceived economic benefits, perceived non-economic benefits and market access.

This research is innovative in incorporating the use of agriculture information systems as both direct contributor and moderator in converting decisions.

This study aims to analyze the factors affecting tea-producing farmers' intention to use e-commerce exchanges (ECEs) to sell their products, combining the technology acceptance model (TAM) theory and barrier factors.

The authors use the generalized structural equation modeling (GSEM) to analyze the intermediate model that is built on TAM.

Research results show that perceived usefulness (PU) and perceived ease of use (PEU) significantly influence farmers' intention to use ECEs to sell their products. However, knowledge and information barriers hinder farmers' intention to use such ECEs.

Encouraging farmers to use ECEs is the most helpful solution for agricultural economic development in the context of the Covid-19 pandemic.

From an academic perspective, this is the first study that combines the TAM theory of Davis (1989) and barrier factors to analyze farmers' intention to use ECEs. The findings are valuable references for policymakers to propose strategies for agricultural economic development during the current pandemic. At the same time, the empirical results obtained from this study provide good orientations for agricultural economic development 4.0 in the future.

The aim of this empirical study is to investigate an integrated model that captures the way service quality of banking kiosks (BK-SQ) exerts its impacts on customer perceived value and customer satisfaction and the moderating mechanism of technology readiness (TR) in the quality–satisfaction relationship in the banking sector in Vietnam.

An offline survey was conducted to obtain responses from 604 users of banking kiosks in Vietnam. Exploratory factor analysis, confirmatory factor analysis and structural equation modeling were used for data analysis. The moderating effect of TR was examined following the product indicator method.

The results validate significant positive correlations between BK-SQ, customer perceived value and customer satisfaction. Among six service quality dimensions, convenience is the most significant factor in predicting perceived service quality. The study also delineates how TR can moderate the link between service quality and customer satisfaction.

Future studies may make further attempts to incorporate other human and demographic factors as a moderator into the research model.

Bank managers should strive to improve the operations of banking kiosks based on six aspects and increase TR levels of customers to boost customer satisfaction with banking kiosks.

The study contributes to the literature on service quality and self-service technologies (SSTs) by offering critical insights into how banks can make use of influence mechanisms in the model to enhance service quality and customer satisfaction.

Based on the model of Big-Five personality traits and theories of person–environment interaction, this study aims to investigate the moderating effects of personality traits on innovativeness through knowledge sharing (KS).

A sample of 318 Vietnamese employees was collected. The hypothesized model was tested by using partial least squares structural equation modelling.

The results indicate that extraversion, agreeableness, conscientiousness and openness to experience have relationships with innovativeness through the mediating effect of KS. Furthermore, transformational leadership (TL) mitigates the positive relationship between agreeableness and openness to experience and innovativeness.

Based on the research results, the authors suggest several practical implications for enhancing employees' innovative organizational behaviours. Transformational leaders should be aware of and control the relationships with employees high in agreeableness and open to experience to ensure that employees' innovativeness can be freely developed.

This research systematically investigates the effect of each personality on employees' innovativeness. Furthermore, this study contributes to the leadership literature by suggesting the dark side of TL that can negatively influence the innovative ability of employees with certain personality traits.

The purpose of this paper is to investigate the impact of income diversification on the financial performance of commercial banks in Vietnam over the period 2007–2017. It then provides additional analysis to examine whether the diversification–performance nexus is conditioned upon bank experience and ownership structure.

The financial information of each bank were manually collected from bank annual reports. In the empirical model, a number of modern econometric techniques, including panel OLS with fixed effects and a two-step system GMM estimator, were utilised to achieve the research objectives.

The empirical results show that income diversification has a positive impact on banks’ performance. However, the effect varies across different types of banks. Specifically, the authors find that while diversification benefits state-owned and foreign banks, it exhibits a detrimental effect on the financial performance of other non-state owned domestic banks. In addition, the authors further find that the positive impact of diversification is more prominent for banks with more experience in the market.

This study is among the first to empirically investigate the relationships between income diversification and the financial performance of commercial banks in Vietnam. In this sense, the findings of this study could draw important inferences for researchers, policy makers and bank managers towards more appropriate diversification strategies, to ensure the safety and soundness of the whole banking system.

The purposes of this paper are twofold. First, it analyses the income structure in cooperative financial institutions and examines how traditional and non-traditional incomes are related. Second, it evaluates whether increasing diversification towards non-traditional incomes facilitates or hampers the benefits of financial cooperative owners.

Data are collected from over 3,100 US credit unions over the period of 1994–2016. A number of modern econometric techniques are employed throughout the analysis, including the use of panel fixed effect, generalised method of moments (GMM) and two-stage least square (2SLS) methodologies.

Using US credit unions as the empirical setting, the empirical results reveal that the expansion of traditional income leads to a corresponding increase in income from non-traditional activities. However, an increasing reliance on non-traditional income causes a significant drop in interest margins. The authors also find that the extent to which income diversification affects owner benefit varies across credit union types and period of time. While income diversification negatively affects owners' benefits in single common bond credit unions, it has no significant influence on multiple common bond and community credit union owners' benefits. Third, diversification can be beneficial during crisis time, but can be detrimental to owner benefit during normal time.

This paper provides some of the first empirical investigations on the diversification strategy of cooperative financial institutions. Therefore, the results offer significant policy implications for policymakers and market participants on whether financial cooperatives should diversify or specialise.

The purpose of this paper is to explore the role of external audit quality in reducing firm misreporting practices.

Data are gathered from a number of sources including the Osiris database and firms’ annual reports to construct a comprehensive data set containing financial and non-financial information of over 3,100 publicly listed firms in China during the period 2009–2017. A number of rigorous empirical specifications are utilized with the use of probit, logit and conditional logit regressions, as well as panel pooled OLS and fixed-effect estimators. The IV-2SLS, 2-step system GMM and difference-in-differences techniques are also employed to deal with the potential endogeneity bias to ensure the robustness of the empirical results.

The empirical results reveal that larger firms and firms having more tangible assets and greater retained earnings are more likely to employ a better-quality external auditor. Subsequently, higher audit quality leads to a deterioration in corporate misreporting. However, these results are not homogenous across firms. While we document similar findings in the case of non-state-owned firms, state-owned enterprises (SOEs) appear to have less tendency to hire a higher-quality auditor, and higher-quality auditors in turn do not play a significant role in reducing misreporting practices in SOEs.

This paper contributes to a better understanding of the mechanism to mitigate corporate misreporting practices. It is one of the few to empirically investigate auditor selections and the association between external audit quality and corporate misreporting practices in China.

This paper aims to examine how social marketing intervention programmes to measure, evaluate and document social marketing impact.

A systematic review of 49 nutritional behaviour intervention programmes (2006–2020) was conducted. To examine the social marketing impact of the programmes, a logic model of social impact was used. The model comprises inputs (the resources used for an intervention programme), outputs (the direct products resulting from the use of resources), outcomes (short- to medium-term programme effects) and impacts (long-term programme effects on the individual, community or societal levels).

Most intervention programmes set the goal of encouraging their target audience to increase fruit and vegetable intake, choose healthy food items, drink less sugary beverages or consume low-fat diaries, while few others sought policy or systems change. Multiple criteria were used for impact evaluation (e.g. exposure and reach, changes in knowledge, awareness, attitudes, behaviours and body mass index). (Quasi) experiments were the most popular method used for impact measurement, followed by the pre-post model of impact. Positive changes were found in 33 programmes, often reported in terms of short-term outputs or outcomes. Long-term impact particularly on the broader societal level was not indicated.

This research offers a systematic review of how social marketing impact is measured, evaluated and documented. It also provides some guidance for social marketers on how to shift from a reductionist, behavioural outcome-focussed approach towards an “expansionist” impact approach that explicitly considers social marketing impacts on the quality of life of individuals, communities and societies.

Drawing from emotional labour (EL) and emotion regulation (ER) theories, this paper aims to identifiy what helps and what hinders the emotional intelligence (EI) practice of Vietnamese hotel workers. Researching EI qualitatively from a novel context highlights the influence of culture on EI.

The critical incident technique (CIT) was adopted as the qualitative methodological approach using a self-administered form and semi-structured interviews to collect empirical data from a sample of 34 Vietnamese hotel workers in 19 different hotels.

The findings show that following Joseph and Newman’s (2010) cascading model of EI would help hotel workers in their practice. The research also found different factors hindering the EI practice from the individual and organisational levels. Vietnamese culture was believed to guide deep-acting and meditation. Language barrier and manager support emerged as significant factors that could help or hinder their EI practice.

The research proposes a conceptual framework addressing the factors that could help or hinder the EI practice and provides implications for HR practices and management. Caution could be taken when applying the research implications because of the small sample as a nature of qualitative research.

To the best of the authors’ knowledge, this is the first attempt to appraise the EI practice adopting the CIT as a qualitative methodological approach in an under-research context and add evidence to the theoretical links between EI, EL and ER.