Investment plays a vital role in socioeconomic development. Yet, where and how investment capital is generated depends heavily on provincial or municipal policies. Based on theoretical study of factors influencing flows of investments to the service and manufacturing sectors of Phuù Yeân Province and survey of 313 local enterprises, the authors can assert that there exist six influential factors namely (1) investment policy, (2) labor force, (3) infrastructure, (4) the development of national administrative system, (5) natural conditions, and (6) financial and banking services. Finally, several solutions will be recommended to attract more investments to Phú Yên service and manufacturing sectors in the future.
In response to the effort to evaluate knowledge creating initiatives of organizations, this study introduces the concept of ‘knowledge creating capabilities' (KCC) that indicates the structural balance of the four knowledge creation modes proposed in the SECI Model by Nonaka & Takeuchi (1995). The relationship of these capabilities with corporate financial performance is explored using two financial indicators of Vietnamese small and medium enterprises (SMEs) from different sectors. The empirical evidence reveals a correlation between knowledge creating capabilities and financial performance of SMEs in retailing service, which implies some solutions to KCC in Vietnamese SMEs.
Public investment is the primary channel for economic infrastructures. During the economic transition, Vietnam's government has promulgated fiscal expansion policies by increasing public investment in the hope that public investment might positively influence the economic productivity as a whole and crowd in private investment. Vietnam, in recent years, has tried its best to control and cut back on public investment in an attempt to curb inflation. Thus what is the effect of cutbacks in public investment on private investment? This paper investigates the relationship between public investment and private investment to determine whether public investment crowds in or crowds out private investment. In the research, the Structural Vector Autoregressive (SVAR) model will be employed to analyze effects of structured variables in the model. The research finds that public investment helps crowd in private investment in a long run. Finally, some solutions will be recommended for improving public investment policies of Vietnam in future
Since the first trading session on July 28, 2000, Vietnam's stock exchange has developed for over 10 years and experienced positive changes. However, it is still an infant market that has been gradually getting accustomed to international rules, sense of compliance and operational practices. Learning foreign management models and drawing lessons from market operations and foreign managerial practices is crucial to develop the Vietnam's stock exchange in a sustainable and efficient manner.
This paper investigates primary differences between Vietnam's accounting standards (VAS) and international accounting standards (IAS) as well as international financial reporting standards (IFRS), thereby introducing some solutions to collaboration between the government agencies and listed joint-stock companies (JSC) in an effort to apply IAS to the making of financial statements for Vietnam's JSC before their listing on foreign stock exchanges.
The study aims at examining the relation between return and risk of shares listed on the HCMC Stock Exchange (HOSE). Data for the study include series of VN-Index and stock prices of 80 shares listed on the HOSE gathered on a weekly basis from Jan. 2, 2007 to Dec. 31, 2009. The results based on the regression method show that the riskier the portfolio, the higher the return ; and a non-linear relation between return and risk of these shares does exist
Vietnam is in the process of industrialization striving to overcome its backwardness to become a middle-income and industrialized country by 2020. This goal can be accomplished only if it succeeds in urban and rural industrialization nationwide. The process, nonetheless, is progressing much more slowly than it is expected. In addition, gaps between zones and provinces are widening due to plenty of causes, especially differences in human resources. It is the quality of human resources that causes a bottleneck to the shifting and distribution of resources and limited production factors. Thus, the enhancement of human resources contributes to stimulating the country's industrialization and sustainable economic development
Real estate trading is an attractive business because of its profit margin; however, there exist barriers to entry in terms of access to land stock for project development. This research summarizes theories and builds a scale of enterprise leaders' perceived and practical social capital based on three aspects: networks of vertical and horizontal relationships, reliability, and conformity. The results show that senior leaders of government-invested enterprises with plenty of vertical relationships are more likely to succeed in securing a successful access to land stock needed for development projects. Meanwhile, non-public enterprises, especially foreign-invested ones, with young age and wide horizontal relationships are very active in accessing the land stock, but the likelihood of their successful project development is not guaranteed. Perceived social capital stimulates the development of horizontal relationships but not vertical relationships. Business leaders owning a large volume of assets can get more advantages in developing vertical relationships and gaining the permission to develop land lots for their projects. The research also indicates that mechanism for granting licenses is not fair and transparent enough and implies that it needs more improvements and reforms regarding its transparency and fairness. Additionally, leaders of state-owned enterprises should cooperate with their counterparts in private enterprises to improve accessibility to land stock, effectiveness in carrying out projects, and their own social capital.