This study attempts to answer the question “Does psychological capital drive the effort of marketers?” Using a survey data set collected from 364 marketers working for various types of firms in Ho Chi Minh City, we found that each component of psychological capital has a direct and positive impact on job effort of marketers. These findings suggest that firms could enhance the effort of marketers in performing their job by establishing a human resource management system focusing not only the human capital but also on the psychological capital of marketers.
The article is written while Vietnam’s export of rice is facing various difficulties and falls in the rice price, producing a strong impact on the lives of the millions of Vietnamese farmers. Since 2006 , in order to maintain a stable living for Vietnamese rice producers when the rice price falls sharply after harvest, the Government has implemented the policy on purchasing rice for storage twice a year to ensure rice producers get 30% profit at least. The article analyzes the policy on storage of rice, concentrating on the implementation process. Qualitative analysis method is used to assess the implementation of this policy in various aspects such as appropriateness, effectiveness, fairness and compatibility. The results allow authors to offer some recommendations that can serve as a basis for improvements in the implementation of this policy.
E-banking is an inevitable trend of the banking industry in the future. E-banking benefits not only banks but also customers, so the study of models of adoption and usage of E-banking is essential. Nguyễn & Cao (2011) propose the adoption and usage of E-banking model in Vietnam - E-BAM (E-Banking Adoption Model),
and their findings showed that eight following factors - performance expectancy, compatibility, perceived ease of use, perceived behavioral control, subjective norm, perceived risk in transaction, bank image, and macro impact of law - affect the E-banking adoption and E-banking adoption affects E-banking usage. However, according to some relevant theoretical models, this model does not show relationships among independent variables and the effects of independent variables on the E-banking usage. In this paper, authors re-propose a new model of E-BAM to overcome the limitations of the 2011 research, the relationships in the model were analyzed by linear structural model - SEM (Structural Equation Modeling). Factors including perceived behavioral control, compatibility, performance expectancy, bank image and perceived risk in transaction are mutually influenced and affect the E-banking adoption intention; while perceived ease of use and E-banking adoption affect the E-banking usage.
The research aims to analyze the impact of financing decisions on investment ones and examine the relationships between leverage, debt maturity structure, investment and growth opportunities. A system-based model is employed, including three structural equations in which leverage, debt maturity and investment are adopted as endogenous variables. The research data consist of 100 enterprises listed on HOSE and HNX in the period 2007-2012. The results indicate that financial leverage negatively correlates with investment decisions, whereas no correlation is revealed between debt maturity and corporate investment, which is compliant with findings by Dang (2011) and Aivazian et al. (2005). Accordingly, for Vietnamese enterprises, there exists an interaction among leverage, debt maturity and investment. Financial leverage and debt maturity are used as alternative strategies to control corporate liquidity.
The research tries to systematize basic problems with implementation of monetary policy, provide an overall estimate of the implementation of this policy by the SBV over periods, test and measure monetary policy transmission to identify major regulatory instruments, and suggest measures to maximize effects of the transmission mechanism of the monetary policy from 2014 to 2020 when Vietnam gradually integrates into the world economy. The research combines the descriptive statistics and VAR model to analyze each specific target in the period from 1990 to present time. The results show that the SBV has changed to employment of indirect instruments from direct ones and reduced commands or directions as an administrative body. The monetary policy in the past, however, was not very effective, which showed itself in the fact that changes in money supply did not produce strong effects on such variables as inflation and gross output. Among instruments for the monetary policy, exchange rate and refinancing rate are considered important in curbing inflation, and required reserve has great effects on economic growth, while the research finds no evidence of effects of credit limit set by the SBV on macroeconomic variables.
Stock market index plays an important role as a measure of development of securities markets of a country or a region. Results of this empirical research show that in its 13 years of development, Vietnamese securities market indexes only had limited values because of their poor market representation and predictive power, implying the need to merge Hà Nội and HCMC stock exchanges. The research suggests a new set of stock market indexes to deal with shortcomings of existing indexes, thereby providing relevant entities with a new view on development of securities market in Vietnam.
Social capital is considered as an influential factor in economic transactions, including credit access. The research aims at testing relationships between components of social capital and credit access in Vietnam’s rural areas. The testing is conducted with binary logistic and multinomial logistic regression models. The results show that formal social network reduces possibility of getting access to formal credit, and households with wider formal social networks are likelier to belong to the group with access to semi-formal credit than the group with access to formal credit. Such conflicting results may come from specific characteristics of credit market in Vietnam’s rural areas.
Foreign direct investment (FDI) is an essential source of capital in the gross investment conducive to national economic growth, including the case of Vietnam. Since the 1987 Foreign Investment Law, the country has attracted a large amount of foreign capital, which makes a significant contribution to economic development. This research employs a VAR model to analyze the relationship between FDI and Vietnam’s economic growth. The results suggest that FDI has a positive impact on the latter and vice versa. The research also finds that FDI stimulates export and improves the quality of human resources and technology - important prerequisites for the economic growth.
Employing endogenous growth model, panel data from 62 provinces and cities in 2000-2011 and PMG and Arellano-Bond difference GMM, the research analyzes empirically the relationship between the fiscal policy and economic growth in Vietnam. Its main findings are: (i) fiscal decentralization and economic growth cointegrate in the long run, but government’s efforts to adjust its fiscal policy during economic shocks that cause disequilibrium or make the economy deviate from its long-term trend produce very low effects; (ii) fiscal income decentralization and fiscal support have positive effects on economic growth while expenditure decentralization does not; (iii) current expenditure and spending on education, scientific research, health care and environmental issues produce positive effects on the economic growth while public investment fails to do so.