Science & Technology Development Journal - Economics - Law and Management <p><span id="result_box" class="" lang="en"><span title="Tạp chí Phát triển Khoa học và Công nghệ (PTKH&amp;CN) của Đại học Quốc gia thành phố Hồ Chí Minh (ĐHQG-HCM) được thành lập từ năm 1997, ra số đầu tiên vào tháng 1 năm 1998. Từ năm 2006 Tạp chí đã"><strong>Science and Technology Development Journal</strong> (STDJ), Vietnam National University - Ho Chi Minh City (VNU-HCM) was established in 1997. And the first issue was published in January 1998 with </span><span title="đăng ký mã số chuẩn quốc tế ISSN 1859-0128.">ISSN 1859-0128. </span><span title="Từ đó cho đến nay, Tạp chí PTKH&amp;CN đã trở thành diễn đàn khoa học quan trọng nhất của đội ngũ cán bộ nghiên cứu, giảng viên, nghiên cứu sinh của ĐHQG-HCM và cũng là diễn đàn khoa học công nghệ đáng tin cậy của">Since then, STDJ has become the most important scientific forum of scientists from VNU-HCM as well as</span><span title="nhiều nhà nghiên cứu, giảng viên các trường đại học khác tại Việt Nam."> other universities. </span><span title="Tạp chí đã trải qua 20 năm phát triển và đã trở thành nhịp cầu giao lưu khoa học, cũng như làm phong phú tài liệu tham khảo cho đội ngũ giảng viên, nghiên cứu sinh, sinh viên ĐHQG-HCM nói riêng và các Trường đại">The magazine has undergone 20 years of development and has become a bridge for scientific exchanges, as well as enriching reference materials for the faculty, doctoral students, students of VNU-HCM in particular and other universities, institutes... </span></span></p> <p><span id="result_box" class="" lang="en"><span title="học phía Nam nói chung. "><br></span><span title="Tính đến hết năm 2016 Tạp chí đã xuất bản được 276 số với 2714 bài nghiên cứu của các nhà khoa học, cán bộ trong và ngoài ĐHQG-HCM trong 5 lĩnh vực nghiên cứu: Kỹ thuật và Công nghệ, Khoa học Tự nhiên,">By the end of 2016, the journal has published 276 issues with 2714 research articles in five areas of research: Engineering and Technology, Natural Sciences, </span><span title="Khoa học Xã hội và Nhân văn, Kinh tế luật và Khoa học Quản lý, Khoa học Trái đất và Môi trường tương ứng với 5 chuyên san chuyên ngành của Tạp chí.">Social Sciences and Humanities, Economics of Law and Management Sciences, Earth Sciences and Environment corresponding to 5 specialized journals of the Journal. </span></span></p> <p><span id="result_box" class="" lang="en"><span title="Tạp chí đã được phát hành tại các thư viện của các đơn vị thành viên của ĐHQG-HCM, các Sở Khoa học Công nghệ của các tỉnh thành trên cả nước và được Hội đồng học hàm Giáo sư Nhà nước đánh giá cao.">The magazine has been widely indexed in the various libraries at Vietnam. </span></span></p> Viet Nam National University Ho Chi Minh City en-US Science & Technology Development Journal - Economics - Law and Management 2588-1051 <p>Copyright The Author(s) 2018. This article is published with open access by Vietnam National University, Ho Chi Minh city, Vietnam. This article is distributed under the terms of the&nbsp;<a href="" target="_blank" rel="noopener">Creative Commons Attribution License (CC-BY 4.0)</a> which permits any use, distribution, and reproduction in any medium, provided the original author(s) and the source are credited.&nbsp;</p> Perceiving benefit – risk and Fintech users’ continuance intention in Ho Chi Minh City <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> Minh Hoàng Nguyễn Bảo Thiên Hứa Lê Vi Thúy Lê ##submission.copyrightStatement## 2020-10-07 2020-10-07 4 4 974 996 10.32508/stdjelm.v4i4.605 title description none g Intellectual capital and vocational training in enterprises: a case study in Binh Duong province <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> Hoa T.M. Nguyen Anh T. Ha ##submission.copyrightStatement## 2020-10-27 2020-10-27 4 4 1009 1018 10.32508/stdjelm.v4i4.664 title description none g Factors impacting the intention to participate in student exchange program <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> Lê Hữu Tuấn Anh Hoàng Thị Mai Khánh Nguyễn Hoàng Hải Mai Thị Thu Ngân Võ Thị Sương Trần Hạnh Thảo ##submission.copyrightStatement## 2020-10-27 2020-10-27 4 4 1019 1032 10.32508/stdjelm.v4i4.670 title description none g The impacts of dividend policy and foreign ownership on stock price volatility of Vietnamese listed firms <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> Truc Thi Thanh To Ho Thi Hong Minh Phan Thi Kieu Hoa Tran Hoai Nam ##submission.copyrightStatement## 2020-10-17 2020-10-17 4 4 First First 10.32508/stdjelm.v4i4.659 title description none g The impacts of customer satisfaction on loyalty of the youth (18-25 years old) towards e-commerce trading floors in Ho Chi Minh City <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> Nguyen Thi Quynh Nga Đỗ Hồng Vân ##submission.copyrightStatement## 2020-10-22 2020-10-22 4 4 First First 10.32508/stdjelm.v4i4.654 title description none g Innovation activities and global competitiveness: evidence from southeast Asian countries <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> Minh Hoàng Nguyễn ##submission.copyrightStatement## 2020-10-27 2020-10-27 4 4 First First 10.32508/stdjelm.v4i4.622 title description none g Independence principle and its exception in letter of credit law: Suggestions for Vietnam <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> Linh Le Thuc Bui ##submission.copyrightStatement## 2020-10-07 2020-10-07 4 4 997 1008 10.32508/stdjelm.v4i4.591 title description none g