http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/issue/feed Science & Technology Development Journal - Economics - Law and Management 2022-01-10T21:23:39+00:00 STDJ ECONOMICS - LAW & MANAGEMENT pvphuc@vnuhcm.edu.vn Open Journal Systems http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/859 Factors influencing students' intention to online course survey participation - A study at HCMC University of Technology 2021-08-26T08:18:19+00:00 Hàng Lê Cẩm Phương hlcphuong@hcmut.edu.vn Nguyễn Ngọc Bình Phương nnbphuong@hcmut.edu.vn Nguyễn Thị Thương 1513397@hcmut.edu.vn <p>Universities are facing an increasing pressure to assess educational quality outcomes. Therefore, a specific way to evaluate teaching effectiveness is through surveying students at the end of each course. Schools are often concerned with the validity and reliability of student evaluations of teaching. Due to the small sample sizes, the data obtained from these assessments can lack statistical significance and the results can be biased. Low response rates to online student assessments of teaching are concerned and have been studied from many different perspectives. Therefore, this article explores the factors that affect the intention of answering the online course survey of students at Ho Chi Minh City University of Technology. The theory of planned behavior is the foundation of the theoretical model which is complemented by other elements. SEM is conducted on 324 survey samples of all faculties. The results show that the factors such as moral obligation, incentives, subjective norms, perceived behavioural control, e-learning accessing habits have an impact on the intention to online course survey participation and moral obligation carries the strongest weight.</p> 2021-08-26T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/809 The impact of leadership on working motivation create lability for employees at FPT Software Da Nang 2021-09-02T23:03:14+00:00 Thu Bui Thi Minh thubtmgv@gmail.com Lai Phan Thi Yen mbui45@yahoo.com <p>After 16 years of operation, FPT Software Da Nang has continuously grown and become the largest information technology company in the Central region with 3000 employees, whose average growth rate of the last 3 years is more than 70%/ year. Due to the nature of the information technology industry, FPT Software Da Nang has a fast-paced, long-term working environment, with working conditions and processes having a high degree of interdependence between teams. Maintaining loyalty and motivating employees is one of the most important tasks of a leader. Therefore, invisible competition in terms of leadership is significantly important for FPT Software Da Nang. To create work motivation and loyalty by offering benefits, influencing and stimulating it is indispensable to increase the effective functioning of workers at work, in a profession or in specific functions. Therefore, the study was conducted with data collected from 285 employees at the company using the Structural Equation Modeling technique. The results confirm that leadership capacity has a direct impact on work motivation, creating loyalty for employees, thereby proposing management measures to create competitive advantages for FPT Software Da Nang and other enterprises in Vietnam.</p> 2021-09-03T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/867 The relationship among local marketing, regional linkage, a destination image, and foreign direct investment firms’ satisfaction: A case study in long an province 2021-09-02T23:42:58+00:00 Nhieu Van Mai maivannhieula@gmail.com <p>The study investigates the relationship among local marketing, regional linkage, a destination image, and FDI firms' satisfaction in Long An province. Qualitative and quantitative research was implemented as follows: The qualitative research was executed through focus group discussions with 10 owners or export managers of FDI firms; The quantitative research was conducted through direct interviews with 491 managers of FDI firms in Long An. Empirical results justifies the relationship among local marketing, regional linkage, a destination image, and FDI firms' satisfaction. The results show the following key metrics: (i) FDI firms' satisfaction is affected by a destination image (with Beta = 0,141), local marketing (with Beta = 0,202), and regional linkage (with Beta = 0,173); (ii) A destination image is affected by regional linkage (with Beta = 0,456), and local marekting (with Beta = 0,150); (iii) Local marketing is affected by regional linkage (with Beta = 0,367). The findings are foundational for policy proposals for Long An province to improve the satisfaction of FDI enterprises. However, the research has certain limitations: (i) the study was only conducted in Long An, (ii), the spatial correlation among Ho Chi Minh City, Tien Giang and Long An linked regions was neglected.</p> 2021-09-03T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/850 An interdisciplinary research between analyzing customer segmentation in marketing and machine learning method 2021-09-04T01:06:53+00:00 Thanh Trung Ho thanhht@uel.edu.vn Sơn Đăng Nguyễn nguyen.dangson.1298@gmail.com <p>Customer segmentation is one of the key factors in managing customers and building the appropriate marketing strategies. Segmenting customer groups will help managers understand the characteristics of their customers or consumer behaviors, thereby reaching the right target customers, retaining customers (Customer Retention), increasing revenue and competitive advantages of the business. However, finding the right customer groups is a challenge that businesses need to solve on a solid and reliable basis. Along with the support from current technology solutions such as Customer Relationship Management (CRM) and the application of algorithms and methods including both qualitative and quantitative research to enable businesses to cluster customer groups in marketing analysis. This article concentrates on introducing a hybrid model that combines RFM (Recency, Frequency, Monetary) and Machine Learning to analyze customer segmentation. The study was conducted through an empirical method on a dataset with 541,909 transactions of online retail stores, clustering 5 customer segments with the characteristics of each cluster being tested for quality demonstrating the effectiveness and applicability of the study.</p> 2021-09-04T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/789 Risk management for individual traders in financial market 2021-09-04T21:41:12+00:00 Phan Ngoc Yen Xuan xuanpny19702@sdh.uel.edu.vn Le Truong Giang truonggiang.ptdt@gmail.com <p>When participating in the financial market, few investors can sustainably succeed in the market, most of them often make psychological mistakes that lead to failure. The article applies theories and synthesizes empirical studies to analyze common mistakes of individual traders based on the theory of behavioral finance, including: prospect theory, herding effect, house money effect, sunk costs, and overconfidence. The article uses qualitative methods combined with descriptive statistics on a sample of 120 individual investors who are directly trading on the financial market, using a convenience sampling method. The results show that the disposition effect has the strongest impact on investors' decisions, specifically, 81.3% of investors often close their profit positions too soon while the trend is still continuing. Hesitating when making decisions or trading with weak signal, being influenced by others also have a strong impact on the trader, the rest of the factors have a moderate impact. From those results, the article analyzes that the main cause of psychological deviations is "fear" inside each person. Investors close their profit positions early because of the regret aversion if losing that profit, they hesitate to make decisions because of the fear of making mistakes, affected by the herd effect is due to the isolation aversion. On that basis, the article proposes solutions to help investors control psychological factors to survive and succeed in their trading activities, the solution emphasizes self-discipline, planning, and a constant learning process.</p> 2021-09-05T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/861 The impact of social capital on the ability of households’ access to credit services in rural Vietnam 2021-09-07T22:05:58+00:00 Au Thi Hai Nguyen aunth@ldxh.edu.vn <p>Social capital plays a crucial role in assisting rural households to improve incomes. It is, therefore, necessary to conduct research to find ways improving the ability of households' access to credit services. This paper investigates the impact of social capital on the ability of households' access to formal and informal credit services in rural areas in Vietnam. In the research model, social capital is proxied by the number of household members participating in mass organizations and social groups. Univariate Probit and Bivariate Probit models are applied, with data collected from three waves of Vietnam Access to Resources Household Survey - VARHS (2014, 2016 and 2018). The estimation results indicate that the number of household members participating in mass organizations and social groups positively affects the ability of households' access to both formal and informal credit services. The results are robust when changing the sample. The study also proves that for rural households, formal credit and informal credit are interchangeable. One policy implication from the findings of the study is that rural population should be given more favourable conditions to join mass organizations and social groups to improve access to credit services. Another implication is that sources and forms of formal credit should be diverse so that rural households are able to increase access to formal credit and decrease access to informal credit.</p> 2021-09-07T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/790 Innovation and firm performance: Is R&D worth it? An empirical case of Vietnam enterprises 2021-11-02T13:37:08+00:00 Tran My Ngo nmtran@ctu.edu.vn Tien Hoang Thuy Le tienb1610869@student.ctu.edu.vn Yen Thi Bach Tran ttbyen@ctu.edu.vn <p>This study aims to analyze the impact of R&amp;D and product innovation on firm performance in Vietnam using a sample of 397 firms. The resource-based view is used as the underlying theory the research model. The statistics show that the Vietnamese firms on average extract 5.82% of total revenue to spend on R&amp;D activities. In addition, there are approximately 32% of the Vietnamese firms in the sample has improved or upgraded products as well as developed new services during the last 3 years. This result has implied that the investment in R&amp;D and the activities on product innovation in Vietnam have been at a relatively modest level. Besides, the regression results showed that product innovation positively affects Vietnamese firms' performance in terms of profitable accounting measures. This result implies that launching new products or improving existing products could be the "fuel" for the growth engine of firms and thus could improve the performance for the Vietnamese firms. Also, R&amp;D was found to have a positive impact on firm performance in the Vietnam context. Hence, it could be said that investing in R&amp;D is necessary to improve firm performance in an emerging market like Vietnam. R&amp;D could be a means to help firms create competitive advantages and increase their profits. Moreover, R&amp;D could also be the premise of innovation activities for firms. These results indicated that the resource-based view theory is empirically supported in the Vietnamese context. As a result, this study's evidence calls for the consideration of R&amp;D investment and product innovation to improve the firm performance in this market. Furthermore, the statistical evidence in this study shows that export intensity has positively influenced on firm performance in the Vietnamese market.</p> 2021-11-02T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/801 Choice factors when Vietnamese students select universities: An exploratory study from a customer perspective 2021-11-02T21:23:13+00:00 Tri Le ldmtri@hcmiu.edu.vn Nhi Le nhilvu0908@gmail.com Tan Nguyen nthanhtan.2402@gmail.com Khoa Tran ttkhoa@hcmiu.edu.vn <p>The higher education sector is becoming increasingly competitive as students currently have more opportunities to pursue undergraduate degrees. Universities apply marketing strategies to student recruitment and gain the insights about prospective students more closely, which is similar to the process businesses learn about consumer attitudes and behavior. Therefore, the study on the students' intention of choosing a university is necessary. Despite its importance, few previous studies in Vietnam have explored this issue, especially the analysis of choice factors of students throughout the decision-making journey. To explore in-depth the considerations and factors that influence students in this decision-making journey, qualitative data was collected by interviews with freshmen students. Choice factors are divided into three main dimensions, comprising institution-related factors, student-related factors and information sources. The results provide remarkable findings to help universities understand more about the elements which students are interested in and search for during the decision-making process, the importance of paticular choice factors in each stage to adjust the marketing strategies over the stages.</p> 2021-11-03T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/807 Factors affecting the livelihood diversification of Vietnam households 2021-11-02T23:47:54+00:00 Huynh Ngoc Chuong chuonghn@uel.edu.vn Tran Thi Bao Ngoc ngocttb18401c@st.uel.edu.vn Le Hoang Dat datlh17401@st.uel.edu.vn Nguyen Thi Hai Yen yennth18401c@st.uel.edu.vn <p>Sustainable livelihood is not only the livelihood objective but also households’ expectations. Livelihood diversification is aimed at ensuring the farmer's resilience to shocks and improving livelihood sustainability. Research on livelihood diversification in rural areas contributes to the development of agricultural development policies, social security policies for all farm households in Vietnam. The authors applied statistic and regression methods to analyze VARHS’s database which is surveyed 12 provinces in Vietnam over years. This paper is carried out to analyze and evaluate factors affecting the probability of choosing to diversify the livelihoods of Vietnamese farmers by developing a diversification index (SID) and SID’s determinants based on the DFID framework. The results show that the decision to diversify livelihood is influenced by many factors, including age, planted areas, asset value, saving money. Since then, the authors propose some implications for promoting the livelihood diversification of Vietnamese farmers.</p> 2021-11-03T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/857 The role of FDI in Vietnam's economic development 2021-11-19T20:15:32+00:00 Trần Thị Trân Châu tranthitranchau@ukh.edu.vn <p>Since Vietnam joined the World Trade Organization (WTO) in 2007, foreign direct investment (FDI) into Vietnam has increased sharply and has become one of the important sources of capital for the economic development of the country. However, apart from the positive aspects that FDI brought, there were also many negative aspects affecting the economic, political, social, and environmental fields. By analyzing the current situation, role, and limitations of FDI in Vietnam's economic development, the study shows that FDI inflows into Vietnam had positive changes in the period 2010 - 2020. During the research, the analytical data was collected from secondary data from the yearbook of the General Statistics Office and the reports of the Foreign Investment Department - Ministry of Planning and Investment, using the descriptive statistics, synthesis, and analysis to analyze data to describe the effects and qualitative relationship between FDI and economic development in Vietnam. The research results show that in the period 2010-2020, FDI capital continuously increased in total registered capital and realized capital; the proportion of FDI contribution to GDP also increased gradually over the years, however, there was an imbalance between registered capital and realized capital, and the contribution of FDI to GDP was still limited. At the same time, the results also show that the capital of FDI invested in Vietnam and many economic sectors primarily stems from Asian countries while the number of investors in developed countries such as Europe and the Americas is yet inconsiderable, and FDI mainly focuses on processing and manufacturing industries. Based on the research results of the article, a number of solutions are proposed to help Vietnam attract more foreign-invested projects, contributing to promoting Vietnam's economic development in the coming time.</p> 2021-11-20T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/826 The agglomeration of business types at the regional level in Vietnam 2021-11-19T20:51:50+00:00 Bac Truong Cong congbac92@gmail.com <p>This study evaluates the agglomeration of different types of enterprises in Vietnam and the influence of agglomeration among others by analyzing the concentration distribution of enterprises using the Moran I index and the LISA index. (Local Indicators of Spatial Association). Research data includes enterprise data taken from the statistics of provinces for the period from 2005 to 2019 in the Statistical Yearbook and spatial data extracted from GADM (Database of Global Administrative Areas). Research results show that the small and medium-sized enterprises in Vietnam lack agglomeration. For the few existing business clusters, most are in the form of a "Marshallian cluster" model, represented in the form of industrial clusters. In addition, the agglomeration of large enterprises mainly takes place according to the model of the "Satellite Platform cluster" model, which is represented in the form of industrial parks with the concentration of large companies and corporations participating in the global value chain. Although foreign small and medium-sized enterprises have begun to participate in the Vietnamese market, Vietnamese small and medium-sized enterprises have increasingly met the requirements of large corporations and multinational companies, becoming large companies’ partners and gradually integrating into their supply chains. This leads to the emergence of small and medium-sized enterprise clusters besides those of large enterprises.</p> 2021-11-20T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/849 Evaluating the effectiveness of corporate governance through financial indicators: A case study of industrial and consumer goods companies listed on the Vietnamese stock market 2021-11-19T21:54:19+00:00 Trần Quang Cảnh canhtq@hiu.vn Phan Thị Đông Hoài hoai.phanthidong@hoasen.edu.vn Vũ Trực Phức phucvt@hiu.vn <p>The purpose of this paper is to evaluate the influence of some financial ratios on the management performance, represented by ROA of companies listed on the Vietnamese stock market. The study utilizes the simultaneous equation model, GMM regression method with data of 621 companies in industrial and consumer goods sectors in 2019. The research results show three factors that are financial ratios that affect the management efficiency of companies (represented by the Ratio of return on assets), of which the biggest influence is Asset turnover, followed by the Debt-to-assets ratio, and the Net profit margin. Besides, the factor of Net profit ratio is affected by the Debt-to-asset ratio. The results of this study are different from those of previous research and with the assessment of the Vietnam Securities Business Association 1 when stating that asset turnover has a considerably minor influence on the management efficiency of companies. From the research conclusions, the authors propose management implications to help companies improve management efficiency, and investors evaluate the effectiveness of companies' management regarding building investment portfolios.</p> 2021-11-20T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/822 Pro-environmental behavior in sustainable tourism: the impact of using "Environmental feedback" 2021-12-16T21:27:09+00:00 Linh Thị Phương Nguyen linhntp@uel.edu.vn Anh Mỹ Nguyễn nguyenmyanh19@gmail.com Như Thị Hoàng Hồ hothihoangnhu@gmail.com <p>Numerous strategies have been used to promote sustainable tourism, such as building environmentally-friendly destination images or giving visitors gifts to enhance their pro-environmental behaviors. There is an effective and cost-efficient way called "environmental feedback" that can urge people to participate in green actions; however, it has not been given enough attention in the accommodation sectors. Using “environmental feedback” means providing information to explain the meaning of pro-environmental behaviors. This research aims to measure the impact of providing "environmental feedback" on tourist's choice of accommodation. The hypotheses were verified using the Randomized Controlled Trials method. In particular, respondents were randomly segmented into two groups: treatment group (307 samples with hotels displaying "environmental feedback"); control group (211 samples with hotels not displaying "environmental feedback"). The findings confirm the positive impacts of using "environmental feedback” on guest’s selection of hotels. In addition, the difference in price between sustainable accommodations and standard accommodations also influences tourist's choices.</p> 2021-12-17T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/864 Effect of Job Satisfaction on Organizational Commitment of Officers at the State admininistrative agencies in Binh Dinh Province 2021-12-16T21:49:35+00:00 Nam Danh Nguyen ndnam.dr.90@gmail.com Lan Thi Ngoc Uong Uongngoclan98@gmail.com <p>The study aims to determine the factors affecting job satisfaction, and assessing the effect of job satisfaction on the level of organizational commitment of officers at the State administrative agencies in Binh Dinh province. From the data provided by 337 officers, the structural equation model (SEM) was applied to assess the effect of job satisfaction on organizational commitment of officials working at the State administrative agencies in Binh Dinh province. The results show that there are eight factors affecting the job satisfaction of officials include (i) training and promotion opportunities, (ii) trade union activities, (iii) colleagues, (iv) salary and bonus, (v) working conditions, (vi) job stability, (vii) leadership, and (viii) the nature of work. With the factor of training and promotion opportunities have the heaviest impact on job satisfaction, and the factor of trade union activities have the weakest impact on job satisfaction of officers. The result shows that a positive relationship between job satisfaction and organizational commitment. Based on the results suggested some significant policy implications for State administrative agencies in Binh Dinh province to increase job satisfaction and organizational commitment of officials in the coming time.</p> 2021-12-17T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/832 Improving Vietnamese law on the pre-action collection of evidence of law violations in cyberspace 2021-12-25T11:59:06+00:00 Khoi Trong Dao khoidt3@fe.edu.vn <p>In this technological era, illegal acts are surging in cyberspace and causing considerable damage by exploiting the fast and convenient features in connecting and making online transactions. Obtaining evidence and information related to those acts is a prerequisite for the victims of law violations in cyberspace to use legitimate tools to secure their rights and interests. Such an activity must be conducted as soon as possible, even before the proceeding starts to prevent the important evidence and information of the violators from being permanently dispersed or deleted. However, such data is often stored by an opposite party or placed under the management of third parties such as banks, internet service providers and social media platforms. These parties tend to refuse information disclosure due to the conflict of interests, assurance of confidentiality and other business issues. In this regard, Vietnamese civil procedure law still encounters several difficulties for the victims to collect evidence at the pre-action stage. The law has neither clarified the victims’ right to request the evidence-holders to disclose nor provided the victims with any other effective measure to support such collection in this crucial period. Meanwhile, the procedure law of foreign jurisdictions, namely the UK and the Netherlands, is integrated with effective mechanisms to deal with this specific issue. In general, such mechanisms entitle the victims to request the court to order the evidence-holders to disclose crucial evidence of the violations and information about the violators before the commencement of a civil action. Using both doctrinal and comparative methods, this article examines these foreign schemes to determine several vital points for improving Vietnamese civil procedure law regarding the request for court assistance in collecting evidence at this pre-action stage.</p> 2021-12-25T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/868 Population ageing: experiences from some “super-aged” Asian countries and feasible solutions for Vietnam 2021-12-25T12:28:26+00:00 Trinh Hoang Hong Hue huethh@uel.edu.vn Vu Thien Tran ttvu@vku.edu.vn <p>The statement of "aging in the 21<sup>st</sup> century" raised by the United Nations Population Fund Association has been a prominent socio-economic issue around the world, and in reality, the rate of aging has occurred in many countries at an unprecedented pace. Though the aged population could be considered as the huge achievement of human beings in terms of socio-economic growth along with the blended life expectancy, the aging population possibly causes difficulties and challenges toward elderly people and the society as well. Some Asian countries have been confronted with the demographic change as the life expectancy gradually increases but the fertility and mortality are significantly declined. Vietnam among Asian countries was one of the nations with the highest pace of aging rate across the world. Thereby, grasping the deep understanding of the factors impacting on aging and its consequences on socio-economics become a crucial social issue for Vietnam. With the aim towards prescribing appropriate and sustainable social security policies from the perspective of the population, we will focus on analyzing and comparing the challenges and difficulties faced by Asia's 'super-aged' countries as well as the effective policies that they have implemented to solve their problems. For the purpose of harnessing the merits of the "golden population" period and improving the current quality of population, we then propose some policy implications relative to financial security, health care, and expect to create a friendly environment for the elderly.</p> 2021-12-25T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/893 The impact of overinvestment on firm performance of Vietnam’s listed companies 2021-12-25T12:50:09+00:00 Nguyen Trong Nghia nghiant@hcmue.edu.vn <p>The research investigates the impact of overinvestment on firm performance as well as the moderation role of debt policy and dividend policy towards the relationship between overinvestment and firm performance among listed companies in Vietnam. The research data are collected from the FiinPro Database which includes 548 non-financial companies listed on Hanoi and Ho Chi Minh Stock Exchange during the period of 2011 – 2019. The overinvestment variable is proxied by the positive value of error terms estimated from the Investment Demand Function. Because the research employs the dynamic model with the presence of the one-period lagged dependent variable as an independent one in the regression, the SGMM estimator is applied to help deal with the problem of endogeneity. The estimated results clarify that (1) overinvestment has a negative effect on firm performance, (2) debt policy and dividend policy can regulate overinvestment to help lessen the harmful impact of overinvestment on firm performance, and (3) firm performance shows significant discrepancies among 8 industries. The research findings make a considerable contribution not only to the academic aspect by giving an explicit explanation for both Agency Theory and Free Cash Flow Theory through demonstrating the association between debt policy or dividend policy and overinvestment but also to the practical aspect by giving some suitable recommendations to assist corporate enterprises in heightening their firm performance and assist investors in making more accurate investment decisions.</p> 2021-12-25T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/903 Appointing a replacement investor in case of early termination of a PPP contract – some assessments on rationality, transparency, and effectiveness 2022-01-10T21:16:45+00:00 http://stdjelm.scienceandtechnology.com.vn/public/journals/2/article_903_cover_en_US.png Như Thị Thùy Cao nhuctt@tdmu.edu.vn <p>Appointing a replacement investor in case of early termination of a PPP contract is a new provision of the Law on Public-Private Partnership Investment 2020. Basically, the form of investor selection provided under this new provision of Law is not supported by the public. Consequently, there are many questions raised about its rationality, transparency, and effectiveness. Primarily, there are questions on whether it is reasonable for the law to allow the use of investor appointments to find replacement investors, and whether the selection of investors conducted by such a method is transparent and ensures the appropriateness of investors chosen for the project. Thus, to clarify those issues, this article will analyse the provisions related to the appointment of replacement investors provided under the Law on Public-Private Partnership Investment 2020 and compare with similar provisions in the law of some other countries as well as the recommendations of UNCITRAL. On that basis, the article will make an assessment of the rationality, transparency and effectiveness of the abovementioned regulations and propose personal views on these issues. Particularly, this article will emphasise the role of the lender – a special entity in the process of appointing replacement investors – in ensuring the rationality, transparency and effectiveness of the appointment of investors.</p> 2022-01-10T21:16:45+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/882 Capital structure and stock price of non-financial firms listed in Viet Nam 2022-01-10T21:23:39+00:00 http://stdjelm.scienceandtechnology.com.vn/public/journals/2/article_882_cover_en_US.png Vinh Hoàng Lê vinhlh@uel.edu.vn Thuy Minh Thi Le thuyltm@buh.edu.vn <p>The aim of our paper is to consider the non-linear effect of the capital structure represented by debt ratio on stock prices of non-financial firms listed in Vietnam. The research sample in this paper is 458 firms, which was selected by the purposive sampling method. The research data has been extracted from audited financial statements of the firms at the end of every year over the period from 2015 to 2019 and processed correspondingly with stock price statistics from FiinPro Data. According to the panel data of our paper, we used Pooled Ordinary Least Squares (POLS), Fixed Effects Model (FEM) and Random Effects Model (REM), but we only selected FEM after using Redundant Fixed Effects test, Breusch-Pagan test and Hausman test. However, the Wald test’s result showed that the heteroscedasticity does exist in the model; therefore, we adjusted by using Generalized Least Squares (GLS) method. The final estimation results based on GLS show that capital structure has a positive effect on stock price within a limit of debt ratio and will have a negative effect when this limit has been exceeded. This implies that capital structure has an inverted-U-shaped effect on stock price, and we identify the debt ratio threshold of capital structure of 22.07%. The findings are expected to provide useful information for financial managers when making financing decisions with the expectation of maximizing shareholder value and also for investors when analyzing and investing in stocks. The limitations of this research are that the research sample does not include all non-financial firms listed in Vietnam and the research model has not considered the moderating or intervening relationship between factors; according to that, future studies may consider these.</p> 2022-01-10T21:23:39+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/824 The legal and practical issues in the regulations for servicing legal documentation notices to individual in Vietnam civil procedure 2021-08-26T07:47:46+00:00 Mai Hoàng Phước phuocmh@uel.edu.vn Phan Thanh Hưng phanthanhhuwng@gmail.com <p>To begin with, that the society and the economy are fastly developing precipitates a number of disputes necessary for settlements. Of dispute resolution methods including Mediation, Negotiation, Arbitration, and Court, Court is still a traditional method widely chosen by parties, which is evidenced by the increase in the quantities of cases over the years. However, given that the requirement of the society is the timely settlement, it has placed more pressure on court officers. The issuance, delivery, and announcement of procedural documents are three of the most important factors in the civil procedure. The requirement of this activity encompasses ensuring the time limit of the provisions for the proceedings and fully implementing the procedure, enabling parties to exercise their legal rights and obligations. However, shortcomings in the issuance, delivery, and announcement of procedural documents have not been resolved. In addition, in the context of the booming industrial revolution 4.0, the application of information technology and digitization has been placed on the procedure for issuing, serving and notifying procedural documents to create favorable conditions, saving time and costs for parties and Court. The article aims to analyze the current provisions of the Civil Procedure Code on the provision, delivery, and notification of procedural documents to individuals, thereby proposing certain recommendations to refine Vietnamese law in the given field.</p> 2021-08-26T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/881 A scientometric analysis of COVID-19 research in the context of Vietnam 2021-11-02T21:17:08+00:00 Hien Nguyen Trong Ton tonnguyentronghien@gmail.com <p>Cases of COVID-19 are spiking globally, and the number of deaths is continuing to increase at warning rates. The urgency of the global pandemic has prompted scientists from all over the world to focus urgently on finding solutions to limit the negative impact and reverse the pandemic; Vietnam is not an exception. In a short period, the literature on COVID-19 related to the Vietnamese context is increasing with a high and fast growth. In this regard, there is a need to analyze these sources to provide guidance and direction on the progress of research and development, and to suggest policy decisions. In this study, we are going to apply the scientometric method of COVID- 19 research in the context of Vietnam. The Scopus database was used to obtain information about COVID-19 studies. Using Scopus's built-in analysis tool for descriptive statistics, combining the use of ScienceScape and VOSviewer tools to analyze 144 research documents, the main results show that there has been international cooperation, diversification of research directions from medical research, to socio-economics, technology, among others. However, medical research accounts for the majority of relevant publications. At present, research on the Epidemiology-control of COVID- 19 in the context of Vietnam is the most common concern of researchers.</p> 2021-11-03T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/819 The Central Bank Digital Currency – Lessons learned from Bahamas 2021-11-19T20:29:00+00:00 Ly Thi Ngoc Huynh lyhtn@uel.edu.vn <p>The Fourth Industrial Revolution has impacted positively on the financial system. Digitalisation in various aspects is one of the greatest advances in finance. Thanks to transformation, financial requirements are proceeding rapidly, safely, and conveniently. Nations aim at cashless society in tandem with financial inclusion as well as enhancing the opportunity for growing up microfinance and peer-to-peer payments. Besides existing currencies, there is an essential demand for a stable and secure currency which performs clearing and settlement payments. Central Bank Digital Currency (CBDC) has an appropriate nature to satisfy the requirements for an up-to-date and optimal currency issued by the Central Bank. In Vietnam, recently, the process of digitization has taken place dynamically; moreover, the attention to CBDC has also increased. In line with several monetary benefits, CBDC also assists SBV to consolidate its role in monetary activities. Therefore, conducting CBDC studies is significant. The journey from research to circulation of CBDC requires thoughtful consideration and lessons learned from a pioneer such as the Bahamas which is the only country still exchanging CBDC. Therefore, the purpose of this article is to study the experience from the Bahamas, an important premise for Vietnam, to prepare and modify efficiently before CBDC officially circulates in Vietnam.</p> 2021-11-20T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/830 Organic food consumption: a literature review on motives and barriers 2021-11-19T21:16:01+00:00 Hai Nam Le namhailenam@gmail.com Loc Tuan Le loclt@uel.edu.vn <p>In recent years, the consumption of organic food - sustainable consumption has increased significantly in many parts of the world. Besides the factors that promote organic food consumption behavior, there are also barriers to reducing the demand for this food. This study aims to present and discuss the factors that influence organic food consumption behavior. We review, synthesize, and analyze 86 studies conducted from different countries. The main results consist of theoretical frameworks applied in the organic food consumption context, motivations for organic food consumption behavior, barriers to organic food consumption behavior. The nine motivational factors are: concern for personal health; health attributes of organic food; food safety; food quality; sensory aspects; environmental concerns; organic food knowledge; social values; personality. Price; the lack of information and availability; doubt regarding certification/labeling and the lack of trust in stakeholders are considered as the main barriers. In addition, implications for further research are also discussed.</p> 2021-11-20T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/888 The relationship among shopping motives, orientation and purchase intension: Theorical overview and research model 2021-12-25T08:37:01+00:00 http://stdjelm.scienceandtechnology.com.vn/public/journals/2/article_888_cover_en_US.png Nguyen Duy Phong duyphong.04@gmail.com Huynh Thanh Tu tuht@uel.edu.vn <p>Shopping orientation is defined as a shopping lifestyle, emphasizing an individual way of purchase, and reflects on a consumption perspective as a complex economic, social, and entertainment phenomenon. Thus, it has been considered as the best way to understand the nature of consumers. In spite of being an important construct in marketing literature, nowadays, the classification of shopping orientations has been inconsistent in the scientific community, especially with the rapid growth of the internet, several orientations are emerging. Therefore, this paper aims to review some relevant theories and previous empirical research to determine typical current shopping orientations and propose a research framework exhibiting the relationship among the antecedents (shopping motives) and the consequences (purchase intention) with shopping orientations. The findings indicated three main shopping motives comprising control, intimacy, and self-expression impacting on seven shopping orientations, namely quality, brand, recreation, novelty, price, convenience, and impulse, all of which collectively influence purchase intention. Furthermore, shopping orientation is assumed as a mediating variable to control the impact of shopping motives on purchase intention. This theoretical framework is a significant contribution for literature, from which some management implications are also recommended.</p> 2021-12-25T08:37:01+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/803 E-Commerce: The overview of the study for the period 1995 -2020 2021-12-25T11:44:45+00:00 Thanh Nguyen np.thanh9597@gmail.com <p>In recent years, with the world entering the era of technology 4.0, the e-commerce market has been growing strongly in Vietnam and worldwide. As of 2020, the Covid-19 pandemic is a catalyst that changes consumers’ shopping behavior. Consumers change from traditional direct shopping to online shopping by e-commerce platforms. The paper is to carry out an overview of the previous studies to determine the current trend and challenges of e-commerce. According to the research results, this article suggests the administrative implications to Vietnamese e-commerce businesses. The results of the literature review have shown a common trend of online shopping in the future because of its convenience. Furthermore, online shopping also poses two major challenges for businesses: capital and internet infrastructure. Hopefully, synthesizing the previous research will help enterprises have orientations and strategies for the growth of the e-commerce industry in the future.</p> 2021-12-25T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/862 Legal popularization and legal education for community models through clinical legal education – practice at law schools in Southern Vietnam 2021-12-25T12:10:43+00:00 Lưu Minh Sang sanglm@uel.edu.vn Nam Hoài Lê lhnam@uel.edu.vn <p>The legal dissemination and legal aid to the residential community is a typical activity in the program of Clinical Legal Education in law schools. In Vietnam, practical legal education programs have been implemented officially at Vietnamese law schools since 2010. Besides a legal dissemination's aim, the practical legal education program contributes to consolidating law knowledge and improving soft skills for students who take part in the program directly. Up to now, the practical legal education program has succeeded in legal dissemination activities. However, the development potential of the program in the coming time is considerable but has not been implemented strongly. Therefore, this article presents an overview of the origin and content of the Clinical Legal Education and the statistics of the actual situation of implementing this program in Vietnam in recent years. The following part describes the solutions proposed to promote this program as a component connecting to the policy of socialization of work and legal education prescribed by the Law on Legal Popularization And Education 2012.</p> 2021-12-25T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/833 Personal property management in trust: Implications for Vietnam 2021-11-19T21:41:36+00:00 Thuy Bich LE thuylb@uel.edu.vn <p>With the prosperity of the nation, Vietnamese residents are the beneficiaries of more satisfactory legal frameworks regulating relatively all possible social issues. However, the legal component of personal asset management is considered to be refined. In reality, the existence of disputes and litigations over property management in fields of inheritance has placed pressure on legislators and law practitioners. Citizens who are not able to manage property effectively due to the lack of time, incapacity, knowledge deficiency are requesting an effective legal tool for a secure separation between a beneficial interest and a management right over the same property. At the same time, there exists cases where personal desires in the disposition of property upon death, the management of property, inheritance of family property should be respected accordingly. The demand for an effective personal or family asset management tool in Vietnamese current legal framework has become more urgent than ever, rooting in a fact that existing legislation has not satisfied an emerging need in the daily lives of inhabitants even though global cases have proven trusts as a very efficient method to handle all relevant practical matters. This paper focuses on researching the possibilities of adopting trusts in Vietnam to settle family property management through an analysis of practical demands, major characteristics of trusts, and potential obstacles. Results have shown a high potential of introducing trusts into Vietnam as a result of the fact that the Viet Nam Civil Code 2015 implies an appropriate background for such an introduction. The introduction and adoption of trusts into the Vietnamese legal system will possibly offer enormous benefits to the country's civilians.</p> 2021-11-20T00:00:00+00:00 ##submission.copyrightStatement## http://stdjelm.scienceandtechnology.com.vn/index.php/stdjelm/article/view/899 The effect of the legal tradition on the law about public corporate governance - recommendations for Vietnam 2021-12-25T13:09:48+00:00 Chau Quoc An ancq@uel.edu.vn <p>Along with the process of integration and attracting international capital, the law about public corporate governance of Vietnam also includes the need to receive high standards of the regulations of other countries. However, to ensure the process of completing and exercising law enforcement effectively, helping to reduce enforcement costs for the corporation, the legal tradition of countries is a factor that needs to be considered adequately by the legal origin. The legal tradition has a profound influence on the reform and improvement of the country's modern legal system and is the source of the differences among countries' corporate governance legal systems. Legal traditions have a strong impact on investor protection mechanisms and corporate governance models. Within the scope of this article, the author generalizes the effects of legal traditions on the construction and consolidation of corporate governance laws of legal families in different countries. Simultaneously, the paper focuses on analyzing the case of Vietnam where there is a Civil legal tradition, but the corporate governance model is hybrid with the corporate governance model in countries with a Common law tradition. Consequently, the analysis shows the need to establish new values on the basis of legal traditions to modernize the law on public corporate governance in Vietnam. In addition, propose directions to improve the adjustment efficiency of Vietnam's public company governance law.</p> 2021-12-25T00:00:00+00:00 ##submission.copyrightStatement##