Science & Technology Development Journal - Economics - Law and Management

Journal Information
ISSN / EISSN : 25881051 / 25881051
Current Publisher: Viet Nam National University Ho Chi Minh City (10.32508)
Total articles ≅ 187
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Hồ Xuân Thủy, Đinh Lê Minh Hiếu, Dzoãn Khoa Danh, Phạm Phú Thành Đạt, Nguyễn Hồng Ngọc, Phạm Như Ngọc
Science & Technology Development Journal - Economics - Law and Management, Volume 4; doi:10.32508/stdjelm.v4i3.663

Abstract:
Profit maximization is an important goal of any business entities, lead to big concern about how to improve financial performance so as to run businesses in a stability and sustainability. Furthermore, in measuring financial performance, several profitability indicators are widely in use as return on assets (ROA), return on equity (ROE)... We did conduct literature reviews and conclude: evaluating the impact of factors on entity financial performance is such an essential topic which has drawn the attention of researchers all over the world and yet Vietnam. However, many studies gave dissimilar results, which indicates there might be differences in nature of the relationship, or factors affiliation in enterprises of different sectors or different countries. This study aims to determine the effect of factors on the financial performance of companies listed on the Hanoi Stock Exchange (HNX) from 2013-2017. The factors include corporate income tax, firms’size, growth of the firm, age of the firm and liquidity. The study used panel data methodology, the FEM model was found to be consistent with data. In this study, variables of return on assets (ROA) used to measure the financial performance of companies. The research revealed that corporate income tax, firms’size and growth of the firm show a significant negative relationship with financial performance. On the other hand, there is a significant positive relationship between liquidity and financial performance. But, the relationship between ROA with the firm age is not significant. Firms’ size and corporate income tax have the greatest influence on financial of companies. The findings of the study will improve the financial performance of companies listed on the HNX.
Pham Duc Chinh, Vuong Ngoc Doan Thu
Science & Technology Development Journal - Economics - Law and Management, Volume 4; doi:10.32508/stdjelm.v4i3.662

Abstract:
In recent decades, there have been many authors who researched about the topic of employee engagement with a variety of approaches and significant findings. This research aims to study factors determining the organizational engagement of office workers. Samples were collected from 253 office workers in Binh Duong Province. The results from this study indicate that five factors that have a positive influence on employee engagement, in descending order, include job characteristics, job fit, rewards and recognition, employee voice, perceived organizational support. Especially, Justice factor is not statistically significant. Besides, testing the difference in the level of employee engagement by individual characteristics suggests that there is no difference in engagement by gender and seniority, yet there is a difference by age, in particular, the group under 25 years has a lower level of engagement than other groups (25 - 34 years, 45 - 54 years old, 55 years and older). Based on the findings, some implications are suggested to improve the human resources management of companies in Binh Duong Province through strengthening the organizational engagement level of office workers.
Tran Minh Hieu, Nguyen Duong Ngoc Mai Chi
Science & Technology Development Journal - Economics - Law and Management, Volume 4; doi:10.32508/stdjelm.v4i3.657

Abstract:
This study applied SERVQUAL scale of Parasuraman et al to measure factors affecting customer satisfaction on service quality at Vietnam Technological and Commercial Joint Stock Bank - An Giang Branch (Techcombank An Giang). The study was conducted to survey 207 customers who have been using the service at Techcombank An Giang. The survey results were analyzed by the Cronbach’s Alpha reliability test method, then used Exploratory factor analysis (EFA) to verify and evaluate the scale of service quality. The results of the regression analysis show that customer’s satisfaction about service quality at Techcombank An Giang includes four factors: The factor with the highest level is the Empathy with Beta = 0.253, the second of factor is the Responsibility with Beta = 0.248, ranked third in the influence level is the Tangible with Beta = 0.235, and the lowest impact level is the Reliability with Beta = 0.144. The research also uses statistical methods to describe and test the differences of demographic factors with customer’s satisfaction on service quality. The analysis results show that there is no difference between customer’s satisfaction on service quality and factors such as gender, age, income, number of transaction banks, regular transaction banks, and time to use the service at Techcombank An Giang. Through the research results, the author would like to propose some ideas to improve the quality of services, thereby attracting new customers and importantly, keeping traditional customers because the development orientation of Techcombank is to take care of old customers to cross sell other products of the bank. The Stud results offer a basis for the branch to identify the factors influencing customer satisfaction on their service quality, thereby having an appropriate strategy to improve customer satisfaction.
Duong The Duy, Nguyen Thai Dung
Science & Technology Development Journal - Economics - Law and Management, Volume 4; doi:10.32508/stdjelm.v4i3.658

Abstract:
The purpose of this study is to analyze the impact of social capital and other factors that affect the market access of coffee farmer households. The study synthesized theories, as well as previous studies, to provide criteria for measuring social capital of coffee farmers' households: including formal social networks, informal social networks, and trust. Besides, the study uses descriptive statistics, logistic regression, two t-average tests to analyze and assess the difference in social capital between poor and non-poor households of 235 coffee farmer households in Lam Dong Province. The results show that Agricultural Extension Associations, Association Organizations (proxy for official social networks), Agents at all levels, Colleagues - Friends (informal social networks), age, years of living in the locality, and labor have an impact on the market access of coffee farmer households. Some recommendations to improve market access of coffee farmers in the province have been proposed, based on the previous theories as well as the results of the research model The research, however, is yet to clarify the impact of social capital on each market of finance, land, labor, extension services, material, and output markets.
Tran Minh Hieu, Nguyen Duong Ngoc Mai Chi
Science & Technology Development Journal - Economics - Law and Management, Volume 4; doi:10.32508/stdjelm.v4i3.564

Abstract:
This study applied SERVQUAL scale of Parasuraman et al to measure factors affecting customer satisfaction on service quality at Vietnam Technological and Commercial Joint Stock Bank - An Giang Branch (Techcombank An Giang). The study was conducted to survey 207 customers who have been using the service at Techcombank An Giang. The survey results were analyzed by the Cronbach's Alpha reliability test method, then used Exploratory factor analysis (EFA) to verify and evaluate the scale of service quality. The results of the regression analysis show that customer's satisfaction about service quality at Techcombank An Giang includes four factors: The factor with the highest level is the Empathy with Beta = 0.253, the second of factor is the Responsibility with Beta = 0.248, ranked third in the influence level is the Tangible with Beta = 0.235, and the lowest impact level is the Reliability with Beta = 0.144. The research also uses statistical methods to describe and test the differences of demographic factors with customer's satisfactionon service quality.The analysis results show that there is no difference between customer's satisfaction on service quality and factors such as gender, age, income, number of transaction banks, regular transaction banks, and time to use the service at Techcombank An Giang. Through the research results, the author would like to propose some ideas to improve the quality of services, thereby attracting new customers and importantly, keeping traditional customers because the development orientation of Techcombank is to take care of old customers to cross sell other products of the bank. The Stud results offer a basis for the branch to identify the factors influencing customer satisfaction on their service quality, thereby having an appropriate strategy to improve customer satisfaction.
Hàng Lê Cẩm Phương, Hoang Minh Chau
Science & Technology Development Journal - Economics - Law and Management, Volume 4; doi:10.32508/stdjelm.v4i3.667

Abstract:
The study explores the relationship between working capital and profitability using data collected from the financial statements of 17 food and beverage companies listed on HOSE and HNX from 2008 to 2017. The three models used in this research are Pooled Ordinary Least Squares, Fixed Effects Model (FEM), Random Effects Model (REM). The results of the model tests show that REM is the most suitable. To enhance the reliability and efficiency of the model, we conduct robustness tests. The findings indicate the presence of heteroskedasticity in the model. Therefore, the adjusted REM with the GLS method is used to handle this issue. The results of the regression analysis reveal that when the average collection period increases, gross operating profit (GOP) decreases and return on assets (ROA) increases; the average payment period has a negative influence on ROA; cash conversion cycle has a negative influence on GOP and when the inventory period increases, ROA and GOP decrease.
Tien Thu Thuy Nguyen, Chi Ha Lien Nguyen
Science & Technology Development Journal - Economics - Law and Management, Volume 4; doi:10.32508/stdjelm.v4i3.579

Abstract:
This paper aims to investigate the literature on Corporate Social Responsibility (CSR) to provide a comprehensive overview of whether CSR would make a difference to organisational financial outcomes. The paper also provides a closer focus on CSR research in Vietnam. Through an extensive analysis of 86 most recent empirical studies from 2015 to 2020, we found that the contribution of CSR to firm financial performance has received significant support from the literature. Yet the overall findings are still inconsistent, and the majority of evidence is mainly from developed countries. The current literature on CSR and firm performance highlights some important issues, ranging from theoretical background, CSR measures, methodological issues, the need to consider intervening factors in CSR-firm performance relationship, and the need to extend this literature further in developing and emerging countries. The literature on CSR-firm performance research in Vietnam closely resembles these problems. Research in this country domain is still scarce in both quantity and quality, reflecting in a number of issues including the limited number of international publications, the absence of theory-driven research, and the less rigorous research design. Building on these findings, we recommend future research to (i) adopt the multi-theoretical approach for a more extensive view on whether and how CSR contributes to firm performance; (ii) obtain more rigorous methodological approaches to measure a wide range of CSR dimensions and address the issue of endogeneity in CSR-firm performance causal relationship; (iii) open the Pandora box to explore why and through which channels CSR can improve firm financial performance with the presence of situational factors; and (iv) build the literature with more evidence from different country contexts and from developing and emerging countries.
Ngoc Thi Minh Tran
Science & Technology Development Journal - Economics - Law and Management, Volume 4; doi:10.32508/stdjelm.v4i3.590

Abstract:
The human capital theory in economics argues that education is an investment in human capital and that the acquisition of knowledge and skills would enable individuals to increase their productivity and earnings, and thereby contributing to economic growth. As an investment, education incurs costs and benefits at various points in time. To measure economic benefits of education investment by individuals, economists use the rate of return to investment in education. This rate of return should be positive and higher than that of alternative options to ensure economic benefits of education investment and motivate education decisions. Given that tertiary education attainment is costly to individuals and the society at large, highly positive returns to tertiary education matter for individual and social human capital investments being economically justified. In the present age of mass access to tertiary education, the pattern of declining returns to investment in tertiary education was observed in a growing number of countries that include Vietnam. This trend may avert individual investment in human capital formation, and thereby negatively affecting national economic growth and development. To contribute to addressing this problem, the current paper aims to analyse the factors that drive the decay in returns to investment in tertiary education in Vietnam. Based on the descriptive research method using descriptive statistics, we summarize key trends in tertiary education in Vietnam. We identify that the abatement in returns to tertiary education investment in Vietnam may be attributed to three main factors: (i) the expansion of education supply, in particular tertiary education; (ii) the economic downturn after the global financial crisis; and (iii) the mismatched quality of tertiary education. These findings are foundations for our suggestions on possible solutions to inform the tertiary education development strategy.
Ho Van Nguyen, Ho Trung Thanh
Science & Technology Development Journal - Economics - Law and Management, Volume 4; doi:10.32508/stdjelm.v4i3.656

Abstract:
Recently, with the growth of technology and the Internet, customers can easily give their opinions and feedback about products and services on websites or social media. This information is stored in text 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 99,322 customer comments and reviews written in English from some e-commerce websites in the hospitality industry. After pre-processing the collected data, our team conducted experiments on this corpus and chose the best number of topics (K) was chosen by Perplexity and Coherence Score measurements as input parameters for the model. Finally, experiment on the corpus was used based on the Latent Dirichlet Allocation (LDA) model with K coefficient to explore the topic. The model results found hidden topics with a 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 hospitality sector.
Nguyễn Ngọc Duy
Science & Technology Development Journal - Economics - Law and Management, Volume 4; doi:10.32508/stdjelm.v4i3.672

Abstract:
This study aims to measure the efficiency and productivity of Vietnamese pangasius processing and exporting firms, using variables of assets and liabilities in 2009-2014. The results show that the average resource use efficiency of the firms in this period is about 67.7% with a constant returns-to-scale, 79.4% with a variable returns-to-scale, and a scale efficiency (SE) of 85.5%. Firms need to increase their efficiency by 14.5% to achieve the optimal SE. More than half of the firms have efficiency lower than the industry average, suggesting that they were wasting their asset and liability resources, especially the long-term debt. The improvement of technical efficiency and technological advancement on average help increase total factor productivity by 14.1%. About 40% of firms experienced a decline in average productivity and 60% experienced an increase. This research, therefore, recommends firms to use there resources economically or efficiently, especially the long-term debt. In addition, firms also need to improve their technology to boost productivity, thereby enhancing their competitiveness.
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