Science & Technology Development Journal - Economics - Law and Management 2020-12-04T18:47:08+00:00 Dao Tran Thi Kim Open Journal Systems Perceiving benefit – risk and Fintech users’ continuance intention in Ho Chi Minh City 2020-12-04T18:42:30+00:00 Minh Hoàng Nguyễn Bảo Thiên Hứa Lê Vi Thúy Lê <p>This study aimed to investigate the perceiving benefit – risk and the continuance intention to use Fintech in Ho Chi Minh City. The data was collected from 472 respondents (under the age of 40). The statistical software AMOS, the consistency coefficient measured with Cronbach's Alpha for scaling test, Exploratory Factor Analysis (EFA), Confirmatory Factor Analysis (CFA) and Structural Equation Modelling (SEM) were used for the analysis. The results show that users' benefit perception was explained by economic benefit and convenience, users' risk perception was explained by financial risk and security risk. Besides that, the benefit perception has a positive impact on the Fintech continuance intention, while the risk perception has a negative influence on such an intention. The research results also show that there is a difference between clumsy and proficient users of Fintech applications, specifically: (1) For users who are not proficient in Fintech applications, benefit perception are affected by economic benefit and convenience, and Fintech's intention to continue using financial services is positively affected by benefit perception and not affected by risk perception. In particular, risk perception is affected by financial risk; (2) For users who are proficient in Fintech applications, benefit perception are affected by economic benefit and convenience, and benefit perception have a positive impact on the intention to continue using Fintech's financial services, but risk perception has a negative impact on Fintech's intention to continue using its financial services, and is affected by financial risk and security risk.</p> 2020-10-07T00:00:00+00:00 ##submission.copyrightStatement## Intellectual capital and vocational training in enterprises: a case study in Binh Duong province 2020-12-04T18:42:28+00:00 Hoa T.M. Nguyen Anh T. Ha <p>Staff training is considered as an effective tool to help organizations and businesses develop sustainable competitive advantage based on human resources. However, the investment of enterprises in this training activity is still very limited. The article provides an thorough understanding of why businesses do not emphasize human resource training. The analysis results imply that the enterprise's decision to invest in vocational training may depend on the Intellectual capital of employees. Vocational training is reflected from the experimental research on 983 workers in more than 100 enterprises and from group discussions of managers, employers and teachers, with more than 60 people in Binh Duong Province. The analysis (quantitative methods - Correlation and multivariate Binary logistic regression, and qualitative methods - in-depth interviews and focus group discussions) in the context of high demand for human resources in Binh Duong Province, indicates that: (1). The Intellectual capital of the human resources is not high; (2). The proportion of employees receiving training in enterprises is very low; (3). This opportunity mainly belongs to the qualified labour. Therefore, recommendations are proposed to promote vocational training for the workforce in Binh Duong Province in the future.</p> 2020-10-27T00:00:00+00:00 ##submission.copyrightStatement## Factors impacting the intention to participate in student exchange program 2020-12-04T18:42:27+00:00 Lê Hữu Tuấn Anh Hoàng Thị Mai Khánh Nguyễn Hoàng Hải Mai Thị Thu Ngân Võ Thị Sương Trần Hạnh Thảo <p>In this day and age, studying abroad acts as a golden opportunity for students to expand their perspectives, and to gain priceless experience, which can facilitate their career path in the future. Moreover, international learning and knowledge propels students towards acceptance and understanding of an array of different cultural and community perspectives. Especially, a type of studying overseas called cultural and academic exchange programs has been becoming a popular trend. Although it shares a multitude of similarities with long-term studying abroad programs, it has its own distinctive features which have been receiving a great deal of students' attention. This can be strong evidence that more and more students all around the world are participating in these programs every year. In terms of technical side, this research aims to identify factors having impacts on Vietnamese students' decisions in participating in exchange programs. In specific, mixed methods are employed in the research, through qualitative methods (semi-structured interview) and quantitative method (survey), with 505 participants involved from November 2019 to February 2020. Based on literature review and qualitative analysis, a framework of 8 factors is proposed. Through quantitative analysis of survey questionnaire results, the research continues indicating a total of 7 factors that directly have influence on students' decisions in taking part in exchange programs. Furthermore, the research provides several suggestions and objectives for individuals and organizations, which get involved in those exchange programs namely students, universities and educational institutions. Ultimately, the research is up for making a contribution to enhancing the effectiveness of exchange programs in Vietnam with a purpose that more Vietnamese students regardless of their backgrounds, can potentially have enough necessary qualities and satisfying the necessary conditions to carry on their studying abroad.</p> 2020-10-27T00:00:00+00:00 ##submission.copyrightStatement## Innovation activities and global competitiveness: evidence from southeast Asian countries 2020-12-04T18:42:26+00:00 Minh Hoàng Nguyễn <p>This article aims to understand the relationship between innovation and global competitiveness in several Southeast Asian countries, including: Vietnam, Singapore, Thailand, Indonesia, Malaysia, Bruney, and Philippines in the period 2005 - 2017. Only data on the global competitiveness index from 2013 to 2017 were collected in Laos, the same index was collected in Brunei but in a different period from 2008 to 2013 and the year 2016, 2017. In addition, data on innovation activities from 2007 to 2017 were collected in Cambodia. Data in the study were collected from the World Intellectual Property Organization (WIPO). ), World Economic Forum (WEF), World Bank (World Bank), and random-effects, fixed-effects methods were used. Research results show that innovation activities have a positive impact on global competitiveness and economic development is a factor promoting the global competitiveness of some Southeast Asian countries. Based on the research results, some Southeast Asian countries should have appropriate policies to develop global competitiveness, especially focusing on policies to encourage innovation for businesses, mechanisms, enabling businesses to innovate, which contributes to improving the global competitiveness of countries.</p> 2020-11-03T00:00:00+00:00 ##submission.copyrightStatement## Improving laws on Public-Private Partnership projects appraisal council – Experiences from Korean laws 2020-12-04T18:42:21+00:00 Như Thị Thùy Cao <p>Appraisal is an important stage in the preparation of Public-Private Partnership projects, which has an important influence on the project investment decision. However, the reality of the appraisal work over the past time has not been as effective as expected. To improve this situation, first of all, it is necessary to improve the legal basis of the organization, operation as well as the responsibility of the subject assigned to the appraisal task (the appraisal council). Only when the legal status of the appraisal council is independently designed, the composition of the appraisal council meets the professional requirements and the legal responsibility of each member of the appraisal council are clearly defined, thus the appraisal work can be done seriously and effectively. With the above orientation, this article will clarify Vietnamese legal regulations related to the appraisal council for Public-Private Partnership projects, including the current provisions of Decree 63/2018/ND-CP and the upcoming provisions of the Law on Public-Private Partnership Investment 2020. At the same time, this article will also compare with similar provisions of the Korean laws to have multidimensional views. On that basis, this article will propose a number of personal views to complete the legal basis for the appraisal of Public-Private Partnership projects in our country.</p> 2020-11-08T00:00:00+00:00 ##submission.copyrightStatement## Factors affecting the decision for routine health checkup: evidence from survey data in Khanh Hoa province 2020-12-04T18:42:22+00:00 Phạm Thành Thái Võ Chí Nam <p>Routine health checkup is the simplest and most scientific method for early detection, minimizing harm, and preventing complications of diseases. However, until now, only a fraction of the population is aware of its importance. Studies in the world and in Vietnam show that the proportion of the population having routine health checkups remains modest. Understanding which factors affect the decision to have routine health checkups is important in creating a system and environment that encourage people to have regular health checkups. The study is based on the survey data of 420 people in Khanh Hoa province to identify the main factors affecting their decision of routine health checkups, using the Logit regression model. The results shows that factors affecting decisions on routine health checkups include: education level, occupation, income, age, chronic illness, waiting time, and the impact of cost. The study also determines that gender and marital status have no effect on regular health checkups. The results highlight the importance of taking into consideration the priorities of time and cost when developing policies to encourage regular health checkups in the population.</p> 2020-11-08T00:00:00+00:00 ##submission.copyrightStatement## The impacts of dividend policy and foreign ownership on stock price volatility of Vietnamese listed firms 2020-12-04T18:42:24+00:00 Truc Thi Thanh To Ho Thi Hong Minh Phan Thi Kieu Hoa Tran Hoai Nam <p>The paper investigates the effects of dividend policy and foreign ownership on stock price volatility of Vietnamese listed firms by using multivariate regression analysis. Besides, the impact of foreign ownership on the association between the dividend policy and the stock price volatility is also studied. The Baskin's approach is deployed to measure the stock price volatility while dividend yield and payout ratio are proxies for the dividend policy. The data sample includes 420 firms listed on the HSX and HNX for 10 years, from 2009 to 2018. The FEM and PCSE are applied to examine the panel dataset with 4045 observations. The key findings indicate that both dividend yield and payout ratio are negatively correlated with stock price volatility. Besides, the stock price volatility of firms with higher dividend payments and a greater rate of foreign ownership is less volatile than those of other companies. Foreign ownership stimulates the negative relationship between dividend yield and stock price volatility, implying that foreign ownership also plays a crucial role in the stability of the stock price. Finally, the results illustrate that the volatility of earnings and the debt ratio are positively related to stock price fluctuation, while the business size and state ownership indicate negative associations with the variability of the stock price.</p> 2020-11-08T00:00:00+00:00 ##submission.copyrightStatement## Domestic innovation activities and economic development in Vietnam 2020-12-04T18:42:25+00:00 Minh Hoàng Nguyễn <p>In 1986, it marked the renovation path, changing mechanisms and policies in all aspects, including Vietnam's economy. Since then, Vietnam's economy has grown rapidly with the contribution of the private sector, which was explained through Schumpeter's theory, and innovation was considered as the blood source for the nation's existence and development. The paper aims to explore the relationship between domestic innovation activities and economic development in Vietnam during 1988-2018. Data in the study were collected from the World Intellectual Property Organization (WIPO), the World Bank (World Bank). This study used the Vector Autoregression Model (VAR) to analyze the relationship between domestic innovation activities and economic development. The research results show that Vietnam's domestic innovation activity is still limited, and has a twoway relationship between domestic innovation activities and economic development in Vietnam. Based on the research results, Vietnam needs to have an appropriate policy for economic development, especially focusing on renovating mechanisms and policies to create conditions for the private sector to strengthen its innovation to develop thereby contributing to Vietnam's economic development.</p> 2020-11-08T00:00:00+00:00 ##submission.copyrightStatement## Topic modeling for analyzing online reviews in hotel sector 2020-12-04T18:42:19+00:00 Nguyen Van Ho Ho Trung Thanh <p>Recently, with the growth of technology and the Internet, customers can easily create their opinions and feedbacks about products and services of hotels on websites or social media. This information is stored in textual form, and is a huge source of data to explore. In order to continue developing to meet customers' needs, businesses need to gain customers' insights that customers discuss and concern. In this study, we firstly collected a corpus of 26,482 customer comments and reviews written in English from some e-commerce websites in the hospitality industry. After preprocessing the collected data, our team conducted experiments on this corpus and chose the best number of topics (K) by Coherence Score measurements as input parameters for the model. Finally, experiment on the corpus according to the Latent Dirichlet Allocation (LDA) model with K coefficient to explore the topic. The model results found hidden topics with the corresponding list of keywords, reflecting the issues that customers are interested in. Applying empirical results from the model will support decision making to improve products and services in business as well as in the management and development of businesses in the hotel sector.</p> 2020-11-09T00:00:00+00:00 ##submission.copyrightStatement## The effect of servicescape on service quality and customer behavioral intention – An evidence in coffeeshop service in Viet Nam market 2020-12-04T18:42:20+00:00 Nguyễn Văn Anh Nguyễn Thị Phương Thảo <p>This study aims to evaluate the role of the servicescape to service quality and customer behavioral intentions in the context of the coffee shops chains service in the Vietnam market. The author uses Structural Equational Modeling (SEM) to test the research model and hypotheses through survey data of 326 customers who have used services at coffee shops in cities in Vietnam. The results show that the concept of servicescape is a separate concept that plays an important antecedent role to service quality and customer behavioral intention, and employees service quality also plays a vital role in order to improve the overall service quality. The results of this study have confirmed the need to manage servicescape and employee service quality at coffeeshops chains which will contribute to enhace overall service quality and forming the intention to return using services of customers. Based on this result, the study has given some implications for managers not only in the coffee shops chains business but also in other service industry. The important contribution of this study is the affirmation of the independent role of servicescape in the coffee shops chain service business in the Vietnam market.</p> 2020-11-09T00:00:00+00:00 ##submission.copyrightStatement## Government procurement clause in EVFTA and implications for Vietnam 2020-12-04T18:42:18+00:00 Hoang Tien Nguyen Vuong Hoang Do <p>EVFTA is one of the newest endeavors of Vietnam regarding the international integration process, which is anticipated to be beneficial for Vietnam in many aspects across industries. The government procurement sector does not stay out of this influence. This article mainly aims to explore the government procurement sector of Vietnam, the performance of the government regarding managing this market and how it will be affected and reformed by EVFTA. More importantly, by examining the significant factors that may have an impact on the EVFTA's implementation from Vietnam's perspective, the article attempts to assess the compatibility of the current situation of Vietnam with the fundamental conditions to conduct public procurement regulations of EVFTA efficiently. The article collects, summarizes, and analyzes the secondary data from trustworthy sources like the Vietnam General Statistics Office, the ranking table of the International Telecommunication Union, the official annual report of state departments of Vietnam, and other documents like journal articles, research papers,etc. Another methodology employed in the research is the in-depth interviews with professional experts who have been working for several years in the international integration field. the article discovers that Vietnam is capable of implementing EVFTA's chapter 9 efficiently but with more careful preparation. The article also points out that despite of having a strong mindset of globalization, Vietnam's public expenditures are still loosely covered by laws, which leads to irrational allocation on national budget. A number of implications are suggested to localize the EVFTA's regulations and recommendations are made to apply modern technologies to improve the procurement system, especially on the capacity of government on managing the government procurement sector. The authors hope to help state authorities to have a broader look and improve the sector as well as embrace the opportunities from EVFTA regarding government procurement sector.</p> 2020-11-09T00:00:00+00:00 ##submission.copyrightStatement## The impacts of customer satisfaction on loyalty of the youth (18-25 years old) towards e-commerce trading floors in Ho Chi Minh City 2020-12-04T18:42:29+00:00 Nguyen Thi Quynh Nga Đỗ Hồng Vân <p>The booming of E-commerce trading sites, especially after COVID-19, has aggressively put pressure on the competition in this industry. Hence, building young customers’ loyalty plays a vital role in doing business. One of the best solutions to this problem is to boost customer satisfaction. As customers are satisfied with the products or services provided, they tend to purchase more frequently and eventually become more loyal. Regarding location, HCM City is currently the most potential market for E-commerce development. Therefore, the aim of this paper is to weigh the relative impacts of customer satisfaction factors on the youth’s loyalty (18-25 years old) to E-commerce trading sites in HCM City, address the existing issues, and propose the corresponding solutions. The study used Multiple Linear Regression Analysis with SPSS 20.0 to build, examine, and test the research model through 215 samples indicates that there are five factors, which affect the youth’s loyalty. They are the satisfaction of website design, the satisfaction of the product portfolio, the satisfaction of privacy &amp; security, the satisfaction of delivery, and the satisfaction of the post-sales service. The results reveal that the satisfaction of privacy &amp; security is the most influential factor in the youth’s loyalty, followed by the satisfaction of the post-sales service and the satisfaction of website design. In addition, there are no differences in young customers’ loyalty regardless of genders, occupations, frequencies of visiting E-commerce sites, monthly income levels, and average spending per order. Accordingly, these findings can be good guidance for E-commerce trading sites to formulate suitable development strategies to build the loyalty of customers at the early stage (18-25 years old) and effectively compete in the market. On the other hand, the paper has certain limitations, namely the short duration of collecting primary data (one month) and thus the relatively small sample size compared to the whole population of the youth. Moreover, as the method of data collection is survey-based, the study must be remade for different regions and nations. Also, this paper only covers E-commerce trading sites within the retailing industry. Hence, future research can greatly improve the model by extending the time period of data collection and covering more industries. Besides, a more modern approach such as SEM is a decent option for measurement scales evaluation and model testing, since Multiple Linear Regression Analysis requires strict assumptions and may have a great likelihood of measurement errors.</p> 2020-10-16T00:00:00+00:00 ##submission.copyrightStatement## Legal rationale of forming the duty to provide information in the pre-contractual insurance contract 2020-12-04T18:42:17+00:00 Nam Thi Nha Bach <p>The duty to provide information in the pre-contractual period is one of the fundamental factors to form an insurance contract. In terms of the insurers, they are basically in the reliance of the information provided by the prospective insureds to assess the frequency and level of risks to decide to engage in the insurance contract or not. Meanwhile, the insureds need to be provided the insurance policy and know all the substantial articles of the insurance policy drafted by the insurers to decide the acceptance of the adhesion contract. In the article, the author analyzes the rationale of forming the duties to provide information by the both parties at the pre-contractual period based on the good faith principle of the contract parties, the asymmetric information, and the nature of assessing the risks in the insurance business. Meanwhile, the article also presents the evolution of the duty to provide information in the pre-contractual period in the insurance contract in Vietnam.</p> 2020-12-03T00:00:00+00:00 ##submission.copyrightStatement## A model of factors affecting export performance of rice and coffee exporters in Vietnam 2020-12-04T18:47:08+00:00 Nguyen Viet Bang Huyen Thi Ngoc Ngo <p>The purpose of this paper is to define and measure the key factors affecting the export performance of riceand coffee of some companaies Viet Nam. Results drawn from this study propose some implications for rice-exporting firms and coffee-exporting firms to increase their export performance. The article uses both qualitative and quantitative research methods The former was conducted in two phases by means of focusing on group discussions: the first group discussion involved 10 chief executive officers (05 rice-exporting firms, and 05 coffee-exporting firms) to explore factors that affect the export performance, the second one was conducted with another 10 chief executive officers (05 rice-exporting firms, and 05 coffee-exporting firms) to refine the observational variables of research concepts (based on the findings of the first focus group). And the latter was conducted through interviews with 232 owner/export managers (from rice-exporting firms, and coffee-exporting firms) in Viet Nam. The results show that: (i) export performance is affected by marketing strategies, management characteristics, domestic market characteristics, and foreign market characteristics; and export barriers; and (ii) marketing strategies are affected by management characteristics, and foreign market characteristics. However, the research has some certain limitations: (i) the sample size only consisted of rice-exporting firms and coffee-exporting firms, (ii) The sampling technique of the study is the convenience sampling.</p> 2020-12-03T00:00:00+00:00 ##submission.copyrightStatement## The factors affecting the choice of accommodation for students in Vietnam National University - Ho Chi Minh City 2020-12-04T18:47:06+00:00 Dinh Hoang Tuong Vi Trần Đức Trung Trần Thị Bích Chi Đỗ Thị Kim Chung Hoàng Gia Tú <p>The authors have carried out a study to determine and evaluate the impact of factors affecting the choice of accommodation for students in Vietnam National University – Ho Chi Minh City. Based on Maslow's hierarchy of needs, the theory of consumer choice by Mankiw, a new theory of residential location by Hoang Huu Phe and Wakely, the buyer decision process in consumption by Kotler to build a research model. The study was conducted through 2 phases: qualitative research and quantitative research with 515 answer sheets from students in Vietnam National University - Ho Chi Minh City, and applied the analytical method using the Structural Equation Modeling (SEM). The analysis shows that there are 5 factors that affect the choice of accommodation for students in Vietnam National University - Ho Chi Minh City descending order including: (1) Social relations, (2) Prices, (3) Security, (4) Services, (5) Location. In practical terms, the results show the need/concern of students in Vietnam National University – Ho Chi Minh City when making choice of accommodation, thereby giving recommendations to improve the quality of accommodation for landlords, the board of dormitory management and the departments agency. In addition, this result is an important basis for reference when building smart applications to find accommodation to serve the increasingly diverse needs of students.</p> 2020-12-04T02:04:26+00:00 ##submission.copyrightStatement## Independence principle and its exception in letter of credit law: Suggestions for Vietnam 2020-12-04T18:42:32+00:00 Linh Le Thuc Bui <p>Even though the letter of credit was invented from a long time ago, however, its legal personalities are very new to the Vietnam Legal Framework. The International Chamber of Commerce (``ICC'') has issued principles for the documentary credit which is the Uniform of Customs and Practice (``UCP'') since 1933 and kept updating it until now, the latest version of UCP is UCP 600 which is presented in 2007. However, the UCP has not systematized many aspects of documentary credit yet and ICC considered those problems as subjects of domestic regulations. The diversification in different national laws leads to confusion thus causing many problems to merchants in international trade. Some countries do not have specified codifications to regulate the letter of credit so these countries treat UCP as ``quasi-law'' while other countries have their own legal framework for letter of credit law and even have fraud rules included. It is quite interesting that the United States which is a common law country is the first country to embody the operation of letter of credit in the Uniform of Commercial Code (``UCC'') and regulates the fraud rule within the same Code. This paper will try to explain and compare the principle of independence in the UCP and UCC, clarify the definition and regulations of fraud rule in UCC and evaluate the legal regulations of Vietnam law for the independence principle in a letter of credit.</p> 2020-10-07T00:00:00+00:00 ##submission.copyrightStatement##