This study aims to find the impact of international trade cooperation and distribution on foreign... more This study aims to find the impact of international trade cooperation and distribution on foreign direct investment (FDI). The study also tests the impact of lag variables of trade cooperation and distribution on FDI in the future. Research design, data, and methodology: Autoregressive Distributed Lag model is applied to analyze the impact of chosen variables such as total trade (TRADE), trade openness (OPEN), the exchange rate (EXR), inflation (INF), and gross domestic growth (GDP) on FDI. Quarterly data is collected from Vietnam General Statistic Office, Vietnam General Department of Customs, International Monetary Fund, and The World Bank from 2006 to 2020. Stata 14 software is used to analyze the regression and test variables. Results: The findings indicate that TRADE, OPEN, INF, GDP, and their lags affect both positively and negatively on FDI in different periods. While OPEN still expresses an unclear impact on FDI. Moreover, this study proves that the FDI of a nation is influenced by international cooperation. Conclusions: This study indicates the importance of international trade cooperation and distribution in not only attracting foreign investment sources but also developing the economy. Findings are necessary bases for governments or authorities in signing international trade agreements in the future.
Journal of Asian Finance, Economics and Business, 2021
The study aims to evaluate the impact of the determinants of logistics on Vietnam’s economy, espe... more The study aims to evaluate the impact of the determinants of logistics on Vietnam’s economy, especially the period after Vietnam joined WTO. We used the logistics indexes as a representative for the logistics sector to assess their impacts. Vietnam’s logistics data is collected from World Bank in the period from 2007 to 2019. Our research also used the OLS regression model to assess the influence of logistics on the Vietnam economy with independent and dependent variables. Six independent variables are representing for logistics activities such as logistics infrastructure (Log 1), logistics service quality (Log 2), on-time shipment (Log 3), up-to-date delivery information (Log 4), logistics competitive price (Log 5), and convenient customs (Log 6). The results of models showed that the logistics infrastructure, the on-time shipment, up-to-date delivery, and the competitive price have impacted positively on Vietnam’s economy. While the service quality has an insignificant effect and the convenient customs (Log 6) have significant negative effects. The results of the studying also indicated that the models are appropriate to evaluate the influence of logistics on Vietnam’s economy. Moreover, the Vietnam government can use these findings to formulate suitable economic policies, especially logistics policies on the integration process.
International Journal of Informatics and Information System, 2021
This study using the multivariate linear regression model based on the ordinary least squares met... more This study using the multivariate linear regression model based on the ordinary least squares method (OLS) to estimate the internal factors affecting profitability of 9 listed banks on Vietnam Stock Market for the period from 2008 to 2016. A sample with 81 observations was used in study model, and Return on assets (ROA) is used to measure banks' profitability in the study model. The results indicated that capital size and loan have a positive and significant effect on bank profitability, and asset size, deposits, liquidity risk and bad debts have a negative and significant impact on bank profitability. These findings suggest that banks can improve their profitability through increasing capital size and loan, remaining asset size, deposits, liquidity risk and bad debts reasonably. These findings allow authors to give some solutions to support Vietnam commercial banks increasing their profitability in integration era
The objective of this paper focuses on evaluating the impacts of governance factors on the firm p... more The objective of this paper focuses on evaluating the impacts of governance factors on the firm performance of Vietnamese listed consumer goods enterprises. The study uses 2 factors representing firm governance such as the size of the director board (BS), CEO Duality (CDU), and 4 controlling factors like the stock price (SP), capital expenditure to total assets (CAPEX), sale growth (GS), as well as firm size (AS) to assess the influence on firm performance. Firm performance is measured by Tobin Q (TOB). Three kinds of models like Pooled OLS, Random Effected, and Fixed Effected are applied to analyze data from 75 listed consumer goods firms with 825 observations in the period from 2010 to 2020. The study uses Stata software 15 for implementing the regression models as well as testing research variables. The findings show that there is an impact of governance factors on firm performance in which size of director board, stock price, capital expenditure to assets, sale growth express positive statistics significant on firm performance. CEO duality has an unclear result in all three models. Besides, total asset still indicates a different result. It proves that there is a negative relationship with firm performance. The findings are a necessary base for firms' managers as well as policymakers to issue suitable policies in the future.
Journal of Asian Finance, Economics and Business, 2020
The purpose of the study is to find the factors that influence the financial leverage of Vietnam ... more The purpose of the study is to find the factors that influence the financial leverage of Vietnam firms. The dependent variable is the financial leverage and the independent variables are firm size, asset structure, liquidity, growth opportunities, profitability, and firm age. The data are collected from Vietnam firms' annual financial reports in the period from 2010 to 2019. The study uses a sample of 448 Vietnam listed firms in the period. We also employ a panel regression model with pooled OLS and fixed effect to analyze the firms' financial data. The results of the model showed that financial leverage (FL) has a negative relationship with some factors such as asset structure (AS), liquidity (LQ), growth opportunities (GRW), profitability (ROA), and firm age (AGE) in the fixed effect regression. It means that when liquidity, profitability, and firm age increase, firms' financial leverage will decrease. While firms' financial leverage has still a positive relationship with the firm size (SIZE) in the model. As a result, when firm size increases, financial leverage will increase, too. The results showed that models are fit for the research and can be used to predict future findings. It is also useful for enterprises, financial advisors, investors, as well as the financial managers.
This study investigates the effect of the financial development index (FD) on foreign direct inve... more This study investigates the effect of the financial development index (FD) on foreign direct investment inflows (FDI) in Vietnam from 1996 to 2021. Time series data are used in the model to assess the influence of six indicators standing for FD. Financial institution assessment (FA), financial depth of institution (FDE), financial efficiency of the institution (FE), financial assessment of market (FM), financial efficiency of the market (FEM), domestic loans for the private sector (DLP) was collected from 1996 to 2021. As a result of the analysis, when FA, FE, and FEM increase, Vietnam's FDI inflow also increases while FDE and FM decrease FDI. The effect of DLP is unclear, and this study has no significant association. It is found that the selected financial development index has a significant impact on attracting inward FDI. It is also necessary for the government and officials to make appropriate policies in the future.
Journal of Emerging Issues in Economics, Finance and Banking (JEIEFB), 2019
Capital structure decisions are very important with business because of their impact on firm
perf... more Capital structure decisions are very important with business because of their impact on firm performance. The purpose of this research was to use panel data regression model to examine the impact of capital structure on 448 Vietnam listed firm’ performance in the period from 2010 to 2016 with 3136 observations. The study used return on assets (ROA) and return on equity (ROE) as the measure of firm’s performance, total debt to total assets (TD) as the measure of capital structure, and control variables as firm size (SIZE), asset tangibility (AS), and liquidity (LQ). The findings indicated that there is a negatively significant impact of total debt (TD) on financial performance measured by ROA, but no significant impact of TD on financial performance measured by ROE. These results may indicate that capital structure decisions have a weak to no impact on Vietnam firm’s performance.
This study aims to find the impact of international trade cooperation and distribution on foreign... more This study aims to find the impact of international trade cooperation and distribution on foreign direct investment (FDI). The study also tests the impact of lag variables of trade cooperation and distribution on FDI in the future. Research design, data, and methodology: Autoregressive Distributed Lag model is applied to analyze the impact of chosen variables such as total trade (TRADE), trade openness (OPEN), the exchange rate (EXR), inflation (INF), and gross domestic growth (GDP) on FDI. Quarterly data is collected from Vietnam General Statistic Office, Vietnam General Department of Customs, International Monetary Fund, and The World Bank from 2006 to 2020. Stata 14 software is used to analyze the regression and test variables. Results: The findings indicate that TRADE, OPEN, INF, GDP, and their lags affect both positively and negatively on FDI in different periods. While OPEN still expresses an unclear impact on FDI. Moreover, this study proves that the FDI of a nation is influenced by international cooperation. Conclusions: This study indicates the importance of international trade cooperation and distribution in not only attracting foreign investment sources but also developing the economy. Findings are necessary bases for governments or authorities in signing international trade agreements in the future.
Journal of Asian Finance, Economics and Business, 2021
The study aims to evaluate the impact of the determinants of logistics on Vietnam’s economy, espe... more The study aims to evaluate the impact of the determinants of logistics on Vietnam’s economy, especially the period after Vietnam joined WTO. We used the logistics indexes as a representative for the logistics sector to assess their impacts. Vietnam’s logistics data is collected from World Bank in the period from 2007 to 2019. Our research also used the OLS regression model to assess the influence of logistics on the Vietnam economy with independent and dependent variables. Six independent variables are representing for logistics activities such as logistics infrastructure (Log 1), logistics service quality (Log 2), on-time shipment (Log 3), up-to-date delivery information (Log 4), logistics competitive price (Log 5), and convenient customs (Log 6). The results of models showed that the logistics infrastructure, the on-time shipment, up-to-date delivery, and the competitive price have impacted positively on Vietnam’s economy. While the service quality has an insignificant effect and the convenient customs (Log 6) have significant negative effects. The results of the studying also indicated that the models are appropriate to evaluate the influence of logistics on Vietnam’s economy. Moreover, the Vietnam government can use these findings to formulate suitable economic policies, especially logistics policies on the integration process.
International Journal of Informatics and Information System, 2021
This study using the multivariate linear regression model based on the ordinary least squares met... more This study using the multivariate linear regression model based on the ordinary least squares method (OLS) to estimate the internal factors affecting profitability of 9 listed banks on Vietnam Stock Market for the period from 2008 to 2016. A sample with 81 observations was used in study model, and Return on assets (ROA) is used to measure banks' profitability in the study model. The results indicated that capital size and loan have a positive and significant effect on bank profitability, and asset size, deposits, liquidity risk and bad debts have a negative and significant impact on bank profitability. These findings suggest that banks can improve their profitability through increasing capital size and loan, remaining asset size, deposits, liquidity risk and bad debts reasonably. These findings allow authors to give some solutions to support Vietnam commercial banks increasing their profitability in integration era
The objective of this paper focuses on evaluating the impacts of governance factors on the firm p... more The objective of this paper focuses on evaluating the impacts of governance factors on the firm performance of Vietnamese listed consumer goods enterprises. The study uses 2 factors representing firm governance such as the size of the director board (BS), CEO Duality (CDU), and 4 controlling factors like the stock price (SP), capital expenditure to total assets (CAPEX), sale growth (GS), as well as firm size (AS) to assess the influence on firm performance. Firm performance is measured by Tobin Q (TOB). Three kinds of models like Pooled OLS, Random Effected, and Fixed Effected are applied to analyze data from 75 listed consumer goods firms with 825 observations in the period from 2010 to 2020. The study uses Stata software 15 for implementing the regression models as well as testing research variables. The findings show that there is an impact of governance factors on firm performance in which size of director board, stock price, capital expenditure to assets, sale growth express positive statistics significant on firm performance. CEO duality has an unclear result in all three models. Besides, total asset still indicates a different result. It proves that there is a negative relationship with firm performance. The findings are a necessary base for firms' managers as well as policymakers to issue suitable policies in the future.
Journal of Asian Finance, Economics and Business, 2020
The purpose of the study is to find the factors that influence the financial leverage of Vietnam ... more The purpose of the study is to find the factors that influence the financial leverage of Vietnam firms. The dependent variable is the financial leverage and the independent variables are firm size, asset structure, liquidity, growth opportunities, profitability, and firm age. The data are collected from Vietnam firms' annual financial reports in the period from 2010 to 2019. The study uses a sample of 448 Vietnam listed firms in the period. We also employ a panel regression model with pooled OLS and fixed effect to analyze the firms' financial data. The results of the model showed that financial leverage (FL) has a negative relationship with some factors such as asset structure (AS), liquidity (LQ), growth opportunities (GRW), profitability (ROA), and firm age (AGE) in the fixed effect regression. It means that when liquidity, profitability, and firm age increase, firms' financial leverage will decrease. While firms' financial leverage has still a positive relationship with the firm size (SIZE) in the model. As a result, when firm size increases, financial leverage will increase, too. The results showed that models are fit for the research and can be used to predict future findings. It is also useful for enterprises, financial advisors, investors, as well as the financial managers.
This study investigates the effect of the financial development index (FD) on foreign direct inve... more This study investigates the effect of the financial development index (FD) on foreign direct investment inflows (FDI) in Vietnam from 1996 to 2021. Time series data are used in the model to assess the influence of six indicators standing for FD. Financial institution assessment (FA), financial depth of institution (FDE), financial efficiency of the institution (FE), financial assessment of market (FM), financial efficiency of the market (FEM), domestic loans for the private sector (DLP) was collected from 1996 to 2021. As a result of the analysis, when FA, FE, and FEM increase, Vietnam's FDI inflow also increases while FDE and FM decrease FDI. The effect of DLP is unclear, and this study has no significant association. It is found that the selected financial development index has a significant impact on attracting inward FDI. It is also necessary for the government and officials to make appropriate policies in the future.
Journal of Emerging Issues in Economics, Finance and Banking (JEIEFB), 2019
Capital structure decisions are very important with business because of their impact on firm
perf... more Capital structure decisions are very important with business because of their impact on firm performance. The purpose of this research was to use panel data regression model to examine the impact of capital structure on 448 Vietnam listed firm’ performance in the period from 2010 to 2016 with 3136 observations. The study used return on assets (ROA) and return on equity (ROE) as the measure of firm’s performance, total debt to total assets (TD) as the measure of capital structure, and control variables as firm size (SIZE), asset tangibility (AS), and liquidity (LQ). The findings indicated that there is a negatively significant impact of total debt (TD) on financial performance measured by ROA, but no significant impact of TD on financial performance measured by ROE. These results may indicate that capital structure decisions have a weak to no impact on Vietnam firm’s performance.
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WTO. We used the logistics indexes as a representative for the logistics sector to assess their impacts. Vietnam’s logistics data is collected
from World Bank in the period from 2007 to 2019. Our research also used the OLS regression model to assess the influence of logistics on
the Vietnam economy with independent and dependent variables. Six independent variables are representing for logistics activities such
as logistics infrastructure (Log 1), logistics service quality (Log 2), on-time shipment (Log 3), up-to-date delivery information (Log 4),
logistics competitive price (Log 5), and convenient customs (Log 6). The results of models showed that the logistics infrastructure, the
on-time shipment, up-to-date delivery, and the competitive price have impacted positively on Vietnam’s economy. While the service quality
has an insignificant effect and the convenient customs (Log 6) have significant negative effects. The results of the studying also indicated
that the models are appropriate to evaluate the influence of logistics on Vietnam’s economy. Moreover, the Vietnam government can use
these findings to formulate suitable economic policies, especially logistics policies on the integration process.
performance. The purpose of this research was to use panel data regression model to examine
the impact of capital structure on 448 Vietnam listed firm’ performance in the period from
2010 to 2016 with 3136 observations. The study used return on assets (ROA) and return on
equity (ROE) as the measure of firm’s performance, total debt to total assets (TD) as the
measure of capital structure, and control variables as firm size (SIZE), asset tangibility (AS),
and liquidity (LQ). The findings indicated that there is a negatively significant impact of total
debt (TD) on financial performance measured by ROA, but no significant impact of TD on
financial performance measured by ROE. These results may indicate that capital structure
decisions have a weak to no impact on Vietnam firm’s performance.
WTO. We used the logistics indexes as a representative for the logistics sector to assess their impacts. Vietnam’s logistics data is collected
from World Bank in the period from 2007 to 2019. Our research also used the OLS regression model to assess the influence of logistics on
the Vietnam economy with independent and dependent variables. Six independent variables are representing for logistics activities such
as logistics infrastructure (Log 1), logistics service quality (Log 2), on-time shipment (Log 3), up-to-date delivery information (Log 4),
logistics competitive price (Log 5), and convenient customs (Log 6). The results of models showed that the logistics infrastructure, the
on-time shipment, up-to-date delivery, and the competitive price have impacted positively on Vietnam’s economy. While the service quality
has an insignificant effect and the convenient customs (Log 6) have significant negative effects. The results of the studying also indicated
that the models are appropriate to evaluate the influence of logistics on Vietnam’s economy. Moreover, the Vietnam government can use
these findings to formulate suitable economic policies, especially logistics policies on the integration process.
performance. The purpose of this research was to use panel data regression model to examine
the impact of capital structure on 448 Vietnam listed firm’ performance in the period from
2010 to 2016 with 3136 observations. The study used return on assets (ROA) and return on
equity (ROE) as the measure of firm’s performance, total debt to total assets (TD) as the
measure of capital structure, and control variables as firm size (SIZE), asset tangibility (AS),
and liquidity (LQ). The findings indicated that there is a negatively significant impact of total
debt (TD) on financial performance measured by ROA, but no significant impact of TD on
financial performance measured by ROE. These results may indicate that capital structure
decisions have a weak to no impact on Vietnam firm’s performance.