Over the past two decades, Vietnam has gained striking achievements in the economic integration into the world market by the service sector in general and auditing service in particular. The 2010 saw many great events of the Vietnam's Communist Party and the State; and is also a time to reflect on its integration and work out appropriate measures to get it beefed up. This paper is to investigate Vietnam's auditing service during its world economic integration, and simultaneously recommend some measures to improve the Vietnam's audit in time to come.

Service quality is still a new concept to those who works in shipping lines services since it has not been identified as a mandatory factor to increase the competitiveness. Most carriers are currently offering services at the same level of price, transit time, equipment, etc. Thus offering a high quality service is the best way for a carrier to differentiate itself from its competitors in the market. The research aims to conduct an assessment on service quality at Wan Hai Lines outbound services based on the SERVQUAL model, form of dimension-by-dimension analysis. The outcome is the service quality of Wan Hai Lines outbound services can be identified by three dimension Empathy and Responsiveness, Assurance, and Reliability. It would help the management to have a clear and full picture about the current service quality, and to have the ways to improve service quality following the recommendations.

This study is to put forward some ideas for an optimal portfolio concerning the asymmetric risk-tolerance of investors, which is supported by the behavioral finance theory. The choice modeling theory is also employed for the sake of various portfolios, thereby investigating the risk-tolerance level of investors. Besides, the insurance issue is also taken into account when the optimization of the value of investment portfolio may maximize the utility of investors; and then draw a conclusion that in case the insurance premium seems an impediment to the return rate, the insurance value will enable investors to cope with a greater risk. The insurance, from a comprehensive view, will surely be useful to make up for risks in price depreciation. Besides, the value equation is to provide investors with a better utility level. Finally, the study refers to the process of risk distribution so as to manage risks in a portfolio of various assets.

The Five Competitive Forces Model of Porter was developed in 1985 with a view to analyzing fundamental competitive forces facing small and medium-sized enterprises (SMEs) in real estate industry (hereunder referred to as RSMEs for short). Findings have shown that the existence of RSMEs, previous to 2007, is thanks to open monetary policies, the collaboration with state-run enterprises and mobilization of citizens' capital. In the context of closer economic integration, RSMEs have been menaced by the harsh competition of FDI-supported enterprises. Besides, inflation seems to make the RSMEs go pale and drawn due to the fact that tight monetary policies have been employed, causing a rise in investment interest rate and a curb on the credit demand, and accordingly an impediment to the mobilization of deposits. The paper also figures out that the competition derives from threats from internal factors, customers, suppliers, established rivals, and the entry of new rivals. The origin of competitive forces facing RSMEs is from inefficiency of financial instruments in the realty industry, and the lack of collaboration among RSMEs and between RSMEs and large-sized enterprises. Thus, in order to restrain adverse impacts of competitive forces on RSMEs, the government should establish a legal corridor that can facilitate the birth of appropriate financial instruments for the sake of realty industry, and stimulate the collaboration between RSMEs and large-sized enterprises and other sectors.

In the process of developing and improving traffic infrastructural network, it is necessary for managers to identify and control influences on the implementation of traffic construction projects (hereunder referred to as “projects” for short) so as to work out suitable measures to get it fulfilled on schedule. Thus, this study is to investigate factors affecting the project schedule with the support of investors, advisors and contractors of 150 traffic projects in HCMC and neighboring localities. Such the projects have been commenced since 2004 till now. The findings have pointed out the fact that there are four main factors affecting the project schedule, that is, legal and policy factors, socioeconomic factors, internal technical factors, and internal non-technical factors of projects; and multi-variable regression tests have proven that the model can explain 56% of the total variables. On the ground of findings, some suggestions for projects to be kept to schedule shall be raised accordingly

Voice Over Internet Protocol (VOIP) providers is generating the game of telecommunication market. Based on the available advanced technologies and smart soft-wares, new entrants can reduce initial investment and production costs to compete with incumbent local exchange carriers (ILECs), which dominate the telecommunication market for a long time due to economy of scale and scope. This paper introduces an economic model to explain the relationship between traditional telephony services and VOIP services. In particular, we show that (1) low income families have not benefited from VOIP services; and (2) VOIP could be a substitute for long-distance calls but complementary to local services. Specifically, we implement an empirical analysis of bundling telecommunications services that are carried out with pooled cross sectional time-series data for all states of the United States of America in the period 1995-2006. Finally, we offer a brief overview on current situation of VOIP services in Vietnam.

In this article the main features of portfolio theory will be outlined and illustrated by a simple numerical example. For purposes of clarity a few assumptions will be adopted. This is fol-lowed by the deduction of simple share investment strategies. Then it will be shown that, with the help of Return on Risk adjusted Capital (RoRaC), an improved evaluation of equity portfolios and investment strategies are more possible then with the Sharpe Ratio. This will be illustrated by an example. Finally, by means of the RoRaC, general recommendations for the handling of investments in Vietnam will be derived. In doing so, the insights derived from the portfolio theory for shares can also be applied to real investments in Vietnam.

By using Granger Causality Test, this study is to investigate whether there is the causality between VN-Index and HNX-Index. The weekly time series data set of VN-Index and HNX-Index quoted from July 20, 2005 to Dec. 30, 2009 shall be employed in this study. Findings show that the fluctuations in HNX-Index have no influence on VN-Index; yet, the fluctuations in VN-Index impact on the HNX-Index. This is to say, such the causality is unidirectional, from VN-Index to HNX-Index.