A framework of significant human resource management practices in Vietnam
Trần Kim Dung & Truong Thi Lan Anh
This paper aims at conceptualizing a framework of human resource management practices (HRMPs) that will work effectively in Vietnam. qualitative research is applied, based on a survey of 388 companies located in Ho Chi Minh city, Vietnam. HRMPs in Vietnam can be measured using seven criteria. Apart from the four traditional HRM functions, which are recruitment selection, training development, performance appraisal and compensation, HRMPs in the Vietnamese context involve three additional criteria: leading change and motivation, both based on traditional soft practices, and talent management, which is based on contemporary hard practice. The validity and reliability of the HRMPs has been confirmed. It was found that the role of HRMPs explains 43 per cent of the variation in a firm’s business performance. The findings imply that HRMPs in Vietnam, despite lagging behind global trends, are on track to catch up with them. The trend of adopting HRMPs in Vietnam continues with the emergence of traditional HRM soft practices and contemporary HRM hard practices. The typical framework of most common HRMPs in Vietnam implies that there is a need to design appropriate training programs for both HR professionals and line managers.
Business Performance; Human Resource Management Practices; Vietnam.
2020, Journal of Asian Business and Economic Studies
Growth enterprise market (GEM) in Hong Kong is acknowledged as one of the world’s most successful examples of small and medium enterprise (SME) stock market. The purpose of this paper is to examine the evolving efficiency and dual long memory in the GEM. This paper also explores the joint impacts of thin trading, structural breaks and inflation on the dual long memory.
State-space GARCH-M model, Kalman filter estimation, factor-adjustment techniques and fractionally integrated models: ARFIMA–FIGARCH, ARFIMA–FIAPARCH and ARFIMA–HYGARCH are adopted for the empirical analysis.
The results indicate that the GEM is still weak-form inefficient but shows a tendency towards efficiency over time except during the global financial crisis. There also exists a stationary long-memory property in the market return and volatility; however, these long-memory properties weaken in magnitude and/or statistical significance when the joint impacts of the three aforementioned factors were taken into account.
A forecasts of the hedging model that capture dual long memory could provide investors further insights into risk management of investments in the GEM.
The findings of this study are relevant to market authorities in improving the GEM market efficiency and investors in modelling hedging strategies for the GEM.
This study is the first to investigate the evolving efficiency and dual long memory in an SME stock market, and the joint impacts of thin trading, structural breaks and inflation on the dual long memory.