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Article
Publication date: 15 June 2021

Nguyen Phuc Canh, Christophe Schinckus, Thanh Dinh Su and Felicia Hui Ling Chong

This paper aims to offer an empirical study of the impact of institutional quality on the banking system risk and credit risk.

Abstract

Purpose

This paper aims to offer an empirical study of the impact of institutional quality on the banking system risk and credit risk.

Design/methodology/approach

Applying cross-sectional dependent tests and stationary tests to check the property of our sample, the panel corrected standard errors model is recruited as the main estimator, while feasible generalized least squares, pool ordinary least squares (OLS), robust pool OLS and other estimators are used as a robustness check for an unbalanced panel data for 56 economies divided into three subsamples between 2002 and 2015.

Findings

The empirical results show several significant contributions. First, an improvement in institutional quality is an important factor to reduce the banking system risk. This effect of the institutions is less important in well-capitalized, highly profitable and in high-economic growth countries. This effect is also stronger in highly liquid banking systems. Notably, a better institutional quality helps to reduce the banking system risk in the highly concentrated banking system. Second, institutional quality has a significant negative relationship with the banking credit risk, especially in highly concentrated banking systems and in high-growth countries. This influence is weaker in highly liquid and well-capitalized banking systems. Finally, better institutions reduce the positive effect of trade openness, but it induces a higher credit risk for the banking system from the trade openness. Notably, a better institutional quality enhances the negative effect of foreign direct investment (FDI) inflow on both banking system risk and credit risk. These findings are documented for a global sample and three subsamples: low and lower-middle-income economies, upper-middle-income economies and high-income economies.

Originality/value

This study provides some recommendations, for policymakers, on the roles of institutions in the banking system and financial stability.

Details

Journal of Economics, Finance and Administrative Science, vol. 26 no. 51
Type: Research Article
ISSN: 2077-1886

Keywords

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Article
Publication date: 18 June 2020

Canh Phuc Nguyen, Thanh Dinh Su, Udomsak Wongchoti and Christophe Schinckus

This study aims to examine the spillover effects of trans-Atlantic macroeconomic uncertainties on the local stock market returns in the USA and eight selected European…

Abstract

Purpose

This study aims to examine the spillover effects of trans-Atlantic macroeconomic uncertainties on the local stock market returns in the USA and eight selected European countries, namely, Germany, France, Spain, Italy, Greece, Ireland, Sweden and the UK, during the 2000-2019 period.

Design/methodology/approach

This paper applies the dynamic conditional correlation multivariate GARCH model (i.e. multivariate generalized autoregressive conditional heteroskedasticity model or DCC MGARCH) to examine the potential existence of the spillover from the uncertainty of the USA to EU stock markets and vice versa. To capture different dynamic relationships between multiple time-series variables following different regimes, this paper applies the Markov switching model to the stock returns of both the USA and the eight major stock markets.

Findings

The increases in US uncertainty have significant negative impacts on all EU stock returns, whereas only the increases in the uncertainties of Spain, Ireland, Sweden and the UK have significant negative impacts on US stock returns. Notably, the economic policy uncertainty (EPU) in the USA has a dynamic effect on the European stock markets. In a bear market (State 1), the increases in the EPU of the USA and EU have significant negative impacts on EU stock returns in most cases. However, only the increase in US EPU has significant negative impacts on EU stock returns in bull markets (State 2). Reciprocally, the increases in the EU EPUs of Germany, Spain and the UK have significant impacts on US stock returns in bear market.

Originality/value

The observations challenge the conventional wisdom according to which only larger economies can lead the smaller counterparts. The findings also highlight the stronger dependence of the US stock market on international macroeconomic uncertainty.

Details

Studies in Economics and Finance, vol. 37 no. 3
Type: Research Article
ISSN: 1086-7376

Keywords

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Article
Publication date: 17 September 2019

Hai Hong Dinh

The purpose of this paper is to trace the way in which a popular ritual became one of Vietnam’s most important festivals, elevated as a celebration of national heroism and…

Abstract

Purpose

The purpose of this paper is to trace the way in which a popular ritual became one of Vietnam’s most important festivals, elevated as a celebration of national heroism and charts its gradual transformation in modern society.

Design/methodology/approach

This research focuses on the combination of a fertility rite and narratives of St Gióng based on nationalism or heroism created a special festival reflecting many traditional cultural characteristics of Vietnam and the Việt people and the transformation of St Gióng from a mythological to a national symbol of heroism in anti-invader history was recorded in texts.

Findings

The paper casts light on the mythologization and historicization of St Gióng in Vietnam’s particular historical context by decoding the Gióng symbol as a core element of the folktales and myths about St Gióng to understand the formation and development of St Gióng in the cultural history of Vietnam.

Research limitations/implications

The paper is not exploring the Gióng symbol within a larger cultural context of nationalism and ethnosymbolic approach in a comparison of national symbolism and heroism.

Practical implications

The paper includes implications for advised scholars to conduct further exploration of the symbol and myth of not only St Gióng in Vietnam but also Kubera in India and Vaisravana in China to connect Kubera, Vaisravana and St Gióng under the connection of literal myth and heroic symbol.

Social implications

The paper shows how processes of historicizing myth and mythologizing history are important features of Vietnamese socio-historical research.

Originality/value

The paper shows how a fertility rite became a historical festival and the figure of St Gióng became a symbol of patriotic heroism.

Details

Asian Education and Development Studies, vol. 9 no. 1
Type: Research Article
ISSN: 2046-3162

Keywords

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Book part
Publication date: 23 October 2020

Linh Hoang Nguyen and Hoa Phuong Nguyen

Vietnam is an emerging economy in the South East Asia region. Its Generation Z is gradually taking the lead in the country. But rather than breaking away from the previous…

Abstract

Vietnam is an emerging economy in the South East Asia region. Its Generation Z is gradually taking the lead in the country. But rather than breaking away from the previous generations, this generation also shows a strong preference towards local values and solid commitment to social issues. Thus, traditional culture elements are increasingly integrated in every aspect of Generation Z’s life, such as advertising and fashion. Instead of hanging out at coffee places, they go for bubble tea. They still appreciate the traditional values but integrate them within a modern context. Brands chase after these young people by adapting their values into their products and services. In the work place, the Vietnamese Generation Z is less confident. They are partially lost in career development with poor career counselling in the education system. They desire new experience and new learning opportunities. Generation Z, who were born beginning in 1995, emerges in Vietnam as a fresh and promising force.

Details

The New Generation Z in Asia: Dynamics, Differences, Digitalisation
Type: Book
ISBN: 978-1-80043-221-5

Keywords

Content available
Article
Publication date: 4 May 2020

Rahmat Heru Setianto

This paper examines empirically how growth opportunities determine the relationship between corporate diversification and firm's value in an emerging economy.

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2169

Abstract

Purpose

This paper examines empirically how growth opportunities determine the relationship between corporate diversification and firm's value in an emerging economy.

Design/methodology/approach

This study employs annual data of Indonesian manufacturing firm's spanning five years. To test the potential nonlinear relationship between diversification and value, nonlinear regression model is employed. Baron and Kenny’s (1986) procedure is also employed to test the mediation role of the growth opportunities in the relation between diversification strategy and firm's value. This study also performs further robustness analysis on mediating role of growth opportunities on the relationship between diversification strategy and corporate value using path analysis approach.

Findings

The analyses reveal the U-shaped diversification and value relationship; this result suggests that the effect of diversification on value will vary across firms, the negative effect of diversification strategy on firm's value may reverse at higher levels of diversification. Further analysis indicates that such relationship is fully mediated by firm's growth opportunities.

Practical implications

Given the results, firms that are considering implementing diversification strategy should seek the optimal level of diversification to gain diversification premium. Furthermore, the manager should observe the best opportunities available for the firm before undertaking the diversification strategies.

Originality/value

This paper contributes to the existing literature on diversification strategy by extending the insight of this research area of a large emerging economy, on which prior studies have not reached conclusive results.

Details

Journal of Asian Business and Economic Studies, vol. 27 no. 2
Type: Research Article
ISSN: 2515-964X

Keywords

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Book part
Publication date: 18 November 2020

Anh Ngoc Cao and Tanya Wyatt

Unsustainable logging and illegal logging for domestic and international trade and trafficking continue to lead to deforestation. It is crucial that Sustainable…

Abstract

Unsustainable logging and illegal logging for domestic and international trade and trafficking continue to lead to deforestation. It is crucial that Sustainable Development Goal 15 ‘Sustainably manage forests, combat desertification, halt and reverse land degradation, halt biodiversity loss’ is achieved to maintain the livelihoods of people and protect the planet. This is the case in Vietnam as well, where many people, including indigenous groups, rely on the forest for their survival. Drawing on semistructured interviews in Vietnam and a literature review, we investigate how the abuse of forest policies leads to human insecurity. From this, we propose solutions to (1) end unsustainable harvesting and illegal logging (SDG 15.7), (2) integrate the value of forests (culturally and economically) into national and local planning, the development process and poverty elimination strategies (SDG 15.9) and (3) improve the use of forest protection funding provided by international donors.

Details

The Emerald Handbook of Crime, Justice and Sustainable Development
Type: Book
ISBN: 978-1-78769-355-5

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Article
Publication date: 12 August 2020

Sang Thanh Le and Chi Dao Vo

This paper aims to provide a deep understanding of rural household livelihoods in the Mekong Delta and to explore how they can cope with climate stressors at the ground level.

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214

Abstract

Purpose

This paper aims to provide a deep understanding of rural household livelihoods in the Mekong Delta and to explore how they can cope with climate stressors at the ground level.

Design/methodology/approach

The paper employs the sustainable livelihood framework at a household and also an individual scale. The general data obtained from a survey of 2,100 households provide an overview of their livelihoods. Qualitative and quantitative methods were adopted, as case studies, to comprehensively assess 100 households in one commune affected by annual floods and an additional 100 households in another commune affected by sea level rises. Livelihood profile analysis is beneficial to identify specific livelihood change patterns that have taken place in these specific cases.

Findings

There are four types of livelihood adaptation to climate stressors: (1) change of structure of agricultural systems, (2) change of employment locations, (3) resettlement with strong impact on livelihoods and (4) out-migration. The household livelihood resources and the local economic structures have significant roles in driving adaptive solutions.

Research limitations/implications

This paper provides detailed profiles of the livelihood change considered as passive adaptation of smallholders in the Mekong Delta.

Originality/value

It contributes to the knowledge of rural households in multiple aspects with regard to how they cope with climate change via reflection on their livelihoods.

Details

Journal of Agribusiness in Developing and Emerging Economies, vol. 11 no. 1
Type: Research Article
ISSN: 2044-0839

Keywords

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Article
Publication date: 3 May 2016

Nga Thi Tuyet Phan and Terry Locke

The purpose of this paper is to explore the influence of culture on the sense of self-efficacy in teaching English as a Foreign Language of a group of university teachers…

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1129

Abstract

Purpose

The purpose of this paper is to explore the influence of culture on the sense of self-efficacy in teaching English as a Foreign Language of a group of university teachers in Vietnam. Research exploring the relationship between culture and self-efficacy is extremely rare despite the acknowledged importance of culture in the formation of self-efficacy beliefs.

Design/methodology/approach

This study took the form of qualitative research with diverse, data collection instruments: individual interviews, focus group discussions, observations and journaling.

Findings

Findings indicate that certain features of the Vietnamese cultural context impacted on the way the study teachers constructed their sense of self-efficacy. Specifically, under the influence of a Vietnamese sense of belonging, the study teachers tended to rely more on efficacy-building information from other people rather than from themselves. The perception of inequality in power may have heightened negative emotional arousal, thus contributing to a negative sense of self-efficacy among the teachers. The Vietnamese concept of face and the high status of teachers in the social hierarchy in part mediated teachers’ sense of self-efficacy.

Social implications

The perceived burden of performing both parenting and teaching roles and responsibilities may have diminished the self-efficacy in teaching of female teachers.

Originality/value

The contribution and implications of the study are discussed.

Details

English Teaching: Practice & Critique, vol. 15 no. 1
Type: Research Article
ISSN: 1175-8708

Keywords

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Article
Publication date: 23 September 2019

Tho Ngoc Nguyen

Most of 823,000 ethnic Chinese people are living in Southern Vietnam among distinct dialectical groups. Each maintains its own pantheon of gods; the majority worships…

Abstract

Purpose

Most of 823,000 ethnic Chinese people are living in Southern Vietnam among distinct dialectical groups. Each maintains its own pantheon of gods; the majority worships standardized Thien Hau. The Hakka in Buu Long are the only group that worships the craft-master gods. This difference creates a challenging gap between the subgroups and reveals the unorthodox nature of the Hakka’s traditions. The purpose of this paper is investigate the continuous efforts to achieve “evolving standardization” and solidarity through the charismatic efforts of the local Hakka elites in Buu Long by their liturgical transformation.

Design/methodology/approach

The study further discusses the multilateral interaction and hidden discourses by applying Watson’s (1985) theory of standardization and orthodoxy as well as Weller’s (1987) concept of context-based interpretation.

Findings

Truthfully, when facing pressures, the Hakka in Southern Vietnam decided to transform their non-standard worship of the craft masters into a more integrative model, the Thien Hau cult, by superimposing the new cult on the original platform without significant changes in either belief or liturgical practice. The performance shows to be the so-called “the caterpillar’s spirit under a butterfly’s might” case.

Research limitations/implications

The transformation reveals that the Hakka are currently in their endless struggles for identity and integration, even getting engaged in a pseudo-standardization.

Social implications

This Hakka’s bottom-up evolutionary standardization deserves to be responded academically and practically.

Originality/value

The paper begins with a setting of academic discussions by western writers in this area and then moves on to what makes the practical transformation, how does it happen, and what discourses are hidden underneath.

Details

Asian Education and Development Studies, vol. 9 no. 1
Type: Research Article
ISSN: 2046-3162

Keywords

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Article
Publication date: 30 November 2020

Padmi Nagirikandalage, Ben Binsardi, Kaouther Kooli and Anh Ngoc Pham

The purpose of this study is to investigate the resistance in management accounting practices (MAPs) in a developing economy in the manufacturing and service sectors in Vietnam.

Abstract

Purpose

The purpose of this study is to investigate the resistance in management accounting practices (MAPs) in a developing economy in the manufacturing and service sectors in Vietnam.

Design/methodology/approach

Data collection was carried out using survey questionnaires in Vietnamese language. The questionnaires were distributed to selected respondents from the manufacturing and service organisations in Vietnam. Textual structuralism was used to analyse different categories of data, i.e. survey questionnaires, photos and qualitative texts obtained from the literature.

Findings

The findings indicate that the usage of MAPs is more prevalent in the manufacturing sector than in the service sector. In addition, various traditional and contemporary MAPs are being used concurrently in Vietnam, which challenges the classical twofold dichotomy between mere socialism and mere neoliberalism.

Research limitations/implications

The textual and photographic structuralism is used in this study to analyse primary data (geography and society and time) in a static setting. Hence, it does not analyse the research phenomena in a dynamic equilibrium setting to view the development of the research phenomena over time. Further research could expand data collection to include longitudinal and dynamic settings.

Practical implications

MAPs can be implemented in economic systems ranging from command to capitalist systems. Although most countries in the world follow a mixed economic system, specific MAPs could be designed for a transitional economic system such as that of Vietnam. This affects both theorists and practitioners in Vietnam applying sustainable MAPs to boost a country's competitiveness during transition.

Originality/value

This study expands understanding of the conformity of MAPs in relation to economic systems under the Communist Party of Vietnam (CPV) – the ruling party of the Socialist Republic of Vietnam. Understanding the differences in the way these MAPs are utilised constitutes an essential area of the accounting discipline to advance MAPs in Vietnamese enterprises and progress theoretical development of sustainable MAPs.

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