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Article
Publication date: 9 February 2024

Nhung Thi Nguyen, An Tuan Nguyen and Dinh Trung Nguyen

This paper aims to examine the effects of investor sentiment on the development of the real estate corporate bond market in Vietnam.

Abstract

Purpose

This paper aims to examine the effects of investor sentiment on the development of the real estate corporate bond market in Vietnam.

Design/methodology/approach

The research uses an autoregressive distributed lag (ARDL) model with quarterly data. Additionally, the study employs Google Trends search data (GVSI) related to topics such as “Real Estate” and “Corporate Bond” to construct a sentiment index.

Findings

The empirical outcomes reveal that real estate market sentiment improves the growth of the real estate corporate bond market, while stock market sentiment reduces it. Also, there is evidence of a long-run negative effect of corporate bond market sentiment on the total value of real estate bond issuance. Further empirical research evidences the short-term effect of sentiment and economic factors on corporate bond development in the real estate industry.

Research limitations/implications

Due to difficulties in collecting data, this paper has the limited sample of 54 valid quarterly observations. Moreover, the sentiment index based on Google search volume data only reflects the interest level of investors, not their attitudes.

Practical implications

These results yield important implications for policymakers in respect of strengthening the corporate bond market platform and maintaining stability in macroeconomic and monetary policies in order to promote efficient and sustainable market development.

Social implications

The study offers some suggestions for regulators and governments to improve the real estate corporate bond market.

Originality/value

This is the first quantitative study to examine the effect of sentiment factors on real estate corporate bond development in Vietnam.

Details

Review of Behavioral Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 18 April 2024

Thuy Thanh Tran, Roger Leonard Burritt, Christian Herzig and Katherine Leanne Christ

Of critical concern to the world is the need to reduce consumption and waste of natural resources. This study provides a multi-level exploration of the ways situational and…

Abstract

Purpose

Of critical concern to the world is the need to reduce consumption and waste of natural resources. This study provides a multi-level exploration of the ways situational and transformational links between levels and challenges are related to the adoption and utilization of material flow cost accounting in Vietnam, to encourage green productivity.

Design/methodology/approach

Based on triangulation of public documents at different institutional levels and a set of semi-structured interviews, situational and transformational links and challenges for material flow cost accounting in Vietnam are examined using purposive and snowball sampling of key actors.

Findings

Using a multi-level framework the research identifies six situational and transformational barriers to implementation of material flow cost accounting and suggests opportunities to overcome these. The weakest links identified involve macro-to meso-situational and micro-to macro-transformational links. The paper highlights the dominance of meso-level institutions and lack of focus on micro transformation to cut waste and enable improvements in green productivity.

Practical implications

The paper identifies ways for companies in Vietnam to reduce unsustainability and enable transformation towards sustainable management and waste reduction.

Originality/value

The paper is the first to develop and use a multi-level/multi-time period framework to examine the take-up of material flow cost accounting to encourage transformation towards green productivity. Consideration of the Vietnamese case builds understanding of the challenges for achieving United Nations Sustainable Development Goal number 12, to help enable sustainable production and consumption patterns.

Details

Accounting, Auditing & Accountability Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0951-3574

Keywords

Article
Publication date: 29 January 2024

Lê Thanh Hà

This study aims to investigate two issues: (1) a nexus between climate-related financial policies (CRFP) and global value chains (GVC) and (2) the government’s policies to help…

Abstract

Purpose

This study aims to investigate two issues: (1) a nexus between climate-related financial policies (CRFP) and global value chains (GVC) and (2) the government’s policies to help countries enhance the efficient use of CRFP in improving a country’s likelihood to participate in GVC.

Design/methodology/approach

To investigate the connection between GVC and CRFP, the authors incorporate that backward participation is measured using foreign value-added, while domestic value-added is used to measure forward participation, quantified as proportions of gross exports. The study analyses yield significant insights across a span of 20 developing countries and 26 developed countries over the period from 2010 to 2020.

Findings

Regarding the first issue, the authors affirm the presence of a linear link between GVC and CRFP, implying that involvement in CRFP is advantageous for both backward and forward participation. Furthermore, the authors identify long-term GVC and CRFP cointegration and confirm its long-term effects. Notably, the expression of a linear relationship between GVC and CRFP appears to be stronger in developing countries.

Research limitations/implications

The study findings, together with previous research, highlight the importance of financial policies relating to climate change (CRFP) in the context of economic growth. Climate change’s consequences for financial stability and GVC highlight the importance of expanded policymakers and industry participation in tackling environmental concerns.

Practical implications

Regarding the second issue, the study findings suggest critical policy implications for authorities by highlighting the importance of financial stability and expanded policymakers in promoting countries' participation in GVC.

Originality/value

This paper investigates the link between GVC performance and CRFP, offering three significant advances to previous research. Moreover, as a rigorous analytical method, this study adopts a typical error model with panel correction that accounts for cross-sectional dependency and stationarity.

Details

Asia Pacific Journal of Marketing and Logistics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-5855

Keywords

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