Science & Technology Development Journal - Economics - Law and Management

Factors affecting the competitiveness of flower production enterprises in Da Lat

2019-10-21T17:03:02+00:00

This study measures the factors influencing the competitiveness of flower production enterprises in Da Lat city. For flower manufacturing enterprises in Da latcity, how to improve the competitive competence in competitive conditions becomes increasingly important. To answer this question, the first thing is to determine the factors affecting the competitive capability of flower manufacturing enterprises in Da Lat city, then measure the influence of these factors on the competitive competence of businesses. The study has identified factors affecting the competitiveness of flower production enterprises, including: technical and technological capacity; financial capacity; organizational capacity of enterprise management; marketing capabilities and brand strength. The official survey was conducted through the investigation of 196 flower producing enterprises in Da Lat city. The research uses the multiple linear regression analysis after assessing the reliability of scales and analyzing exploratory factors. The results show that these factors have a positive impact on competitiveness of the enterprises, in which the financial capacity factor; organizational capacity and brand power play an important role with having a statistically significant level. The study suggests some management implications for enterprises in enhancing their competitiveness in the near future to create a long-term competitive advantage for the flower production and trading enterprises.

On the supply of raw timber materials for the Vietnam’s export furniture manufacturing industry

2019-10-21T17:03:01+00:00

The paper focuses on analyzing the practice of raw material supply for the export furniture manufacturing industry in Vietnam. Using statistical data and forecasting methods, we evaluate the demand for wood materials for the export furniture manufacturing industry in Vietnam, the supplies of domestic and imported wood materials as well as their origin. The results show that: (i) there will be a strong increase in the demand for wood materials in the coming years; (ii) the domestic supply from the planted forests in Vietnam is yet to meet the demand due to their poor quality and small quantity; (iii) despite that, the domestic raw materials have been improved recently; (iv) the Vietnamese enterprises show a greater concern about the origin of wood materials. From these findings, we suggested some solutions to ensure the supply of wood materials in the coming years as follows: (i) adopting detailed, systematic and scientific methods for forecasting the supply of wood materials; (ii) developing clearer policies on afforestation, exploitation and use of domestic wood materials; (iii) building a portal for the wood materials; and (iv) promoting the links between the suppliers of raw wood materials and the furniture producers.

The impact of human capital on labor productivity growth in Vietnam

2019-10-21T17:03:00+00:00

This paper applies Mankiw model to consider the relationship between human capital and labor productivity in the period of 1996 - 2017. Research results have shown that the contribution of human capital to labor productivity growth is only 14%, while investment capital does not reflect the change in labor productivity. The cause of this result is determined by the inadequacy in the allocation of investment capital and the situation of labor training not based on the trend of restructuring the sectors of the economy, so the quality of human resources not yet promoted and utilized. Therefore, in order for human capital to become one of the important factors to promote labor productivity in the future, Vietnam needs to implement three specific solutions: Firstly, raising awareness of the role of human capital in the process of labor productivity growth; Secondly, education and training should be developed to improve the quality of human capital; Thirdly, focus on developing human resources in the field of science and technology to transform the growth model from width to depth.

The mediating role of tourist satisfaction in loyalty to a destination: the case of Nha Trang city

2019-10-21T17:02:56+00:00

This study examines the mediating role of satisfaction about cognitive image, affective image, novelty seeking in the loyalty of international tourists to Nha Trang City. The models employed in this research are developed from previous studies in the fields of Marketing and Tourism. The Confirmatory Factor Analysis and Structural Equation Model are used to analyze data collected from a survey on international tourists visiting Nha Trang City, Khanh Hoa, Viet Nam. The results indicate that four dimensions of cognitive image (cultural and social; environmental; infrastructure and accessibility; and local food factors), affective image, and novelty seeking are important premises and directly correlate with the satisfaction and destination loyalty. In particular, environmental factor exerts the strongest impact on the return and recommendation intentions, of which the satisfaction serves as a bridge between the destination image (cognitive and affective), novelty seeking, and destination loyalty. The results provide theoretical and practical implications for stakeholders in Nha Trang City as well as for further research.

Financial reporting quality in enterprises in Vietnam

2019-10-21T17:02:55+00:00

Financial reporting quality is one the most interesting topic, drawing many researchers and scientists' attentions in the field of a ccounting. Previous studies have shown that the measurement of financial reporting quality is developed in two main d irections: direct measurement (by operationalizing the qualitative characteristics) and indirect measurement (examines the level of earnings management; the specific elements in the annual report in depth,… as a proxy for financial reporting quality). This research aims to build, complete the measurement scale and assess the quality of financial reporting based on qualitative characteristics defined by FASB & IASB 2010. Qualitative research is used to build and complete the measurement scale of financial reporting through case studies using in-depth interviews and focus groups with respondents being specialists and experts in accounting field ( including. university lecturers, chief accountants, heads of internal control, Information technology managers and chief financial officers in enterprises in Vietnam). Quantitative research is used for measuring the financial reporting quality through survey on enterprises in Vietnam. The findings show that financial reporting quality is considered acceptable with average point being 3.7102/5. Among 3 qualitative characteristics of financial reporting quality, the enhancing characteristics are highly evaluated (4.2065/5) while the fundamental characteristics (relevance and faithful presentation) are considered as moderate (3.7032/5 and 3.5590/5).

Internal factors affecting vegetable and fruit export performance of Vietnamese firms

2019-10-21T17:02:54+00:00

The paper aims at defining and measuring key internal factors which impact on export performance of vegetable and fruit export firms in Ho Chi Minh City, Lam Dong, Dong Nai, Binh Duong, Vung Tau, Binh Phuoc, Tay Ninh, Long An và Tien Giang province. The study uses resource-based theory (RBV) to explain the internal factors affecting the export performance by applying qualitative and quantitative methods. The qualitative method is carried out through in-depth interviews of 10 chief executive officers, while the quantitative one is conducted through direct interviews with 228 managers of vegetable and fruit companies. Export performance are measured under the subjective perspective to collect information from firms, considering the perception or satisfaction of firms on export activities. The results show that firm's export performance is under the direct influences of four internal factors including: (1) International experience; (2) export commitment; (3) product characteristics; (4) technology orientation. The study measures export performance and internal factors affecting export performance, thereby suggesting management implications that help businesses improve export performance of Vietnamese fruit and vegetable firms.

Foreclosure on collateral under French and Vietnamese laws

2019-10-21T17:02:59+00:00

In Vietnam, as a result of limited financial competence, it is quite normal for small and medium enterprises to acquire loans from credit institutions, mostly under pledge and mortgage agreements. With the purpose of fostering economic growth, it is, therefore, very important to help individuals and businesses gain access to credit and increase the credit availability for them. In order to do so, obviously the possibility of predicting the time and cost involved in the realization of their security rights should be clearly seen by creditors through clear and effective regulations on enforcement or particularly on the foreclosure of collateral. In fact, Vietnamese laws on secured transactions has recently been developed under the Civil Code 2015, adding two new security devices which are retention of title and retention of property. The new code also clearly distinguishing security devices which have the characteristic of personal rights and real rights as well as perfects the mechanism of effectiveness against third parties. The paper focuses on presenting the differences between the foreclosure o pledged and mortgaged property in French laws and in Vietnamese laws and suggests some modifications to Vietnamese relevant statutes to protect the rights of both debtors and creditors in pledge and mortgage transactions, learning from French practices. Recommendations include a more active role of the securing party in serurity right enforcement process under judicial supervision, the court's involvement in property value appraisal, an extra-judicial mechanism for creditors for collaterall repossession and a provision setting forth an obligation of the secured party to diligently and effectively exploit the secured property to earn maximum fruit and incomes and deduct such amount from the interest and original loan.

Overview on the legal position of cryptocurrency (Bitcoin) in some countries in the world - Orientation to build a legal framework for cryptocurrency in Vietnam

2019-10-21T17:02:58+00:00

The article focuses on analyzing and commenting on the nature of cryptocurrency (typically Bitcoin) and the legal position of this cryptocurrency in Vietnam through comparison with countries like France (Europe) and Thailand in order to make a perfect recommendation for Vietnamese law on this issue. Accordingly, the paper shows that in France, cryptocurrency is considered a kind of asset, although the French law currently does not recognize the ability to pay in encrypted money for all transactions, though in fact, it can be converted into real money. In Thailand, cryptocurrency is seen as a type of stock and can be traded on the stock exchange. Meanwhile in Vietnam, although there are many conflicting opinions, however, with the current regulations, cryptocurrency is sufficient to be considered a kind of property rights recorded in Vietnam Civil Code in 2015. And therefore, although not used as a means of payment as legal money, cryptocurrency should have been the object of exchange and transaction activities as a type of securities in Thailand. The management of cryptocurrency under the securities model could help Vietnam to control well the illegal cryptocurrency transactions such as money laundering, terrorist financing, etc. Besides, it also helps increase revenue for the State budget through taxation on transactions and income generated from such transactions.

Building a developmental state in Vietnam in the process of integrating into the ASEAN economic community

2019-10-21T17:02:52+00:00

Vietnam has been exposed to various advantages and challenges since becoming a member of the AEC.This context requires innovation in the state's perception of governing, regulating and operating the country. In the contemporary stage, the developmental state model isof pivotal importance and necessity to the efforts of achieving the national goals ofprosperous people and a strong, democratic, equitable, and civilized country. This paper discusses concepts, roles and basic functions of a state, and analyzes key aspects of the formation ofa developmental state. Special focus is onthe state's market failure correcting role, its non-competitive nature, and the state that does not act for markets. The ultimate goals of the developmental state is to ensure the rights to live, liberties, and wealth of individuals. The concept of the developmental state wasfirst developed by Chalmers Ashby Johnson (1982). The developmental role of the state is centered on improvingits competence to promote market activities by means of ensuring public security, lessening uncertainty in the economy, mitigating asymmetricinformation, reducing transaction costs, etc. for markets. Finally, we suggest a package of seven solutions to the formation of a developmental government in Vietnam.