Journal of International Economics and Management

Although prior studies have investigated the effects of both internal and institutional factors on export performance of Vietnamese firms, we argue that Vietnamese institutional envionment has changed rapidly under the impact of economic integration and we need more research to understand export behavior of Vietnamese firms. In this paper, we examine how their internal factors and perceived obstacles of external factors affect their export intensity and propensity with an updated micro dataset collected form Enterprise Surveys of World Bank conducted in 2009 and 2015. The research findings show that internal factors including firm size and foreign ownership have positive effects on both export propensity and export intensity. Competition from the informal sector and perceived obstacles of customs and trade regulation have negative and positive impacts on export performance respectively. These findings confirm the role of firm size, foreign ownership, competition in firm export performance in a transition country pursuing export-led growth strategy.

Although Vietnamese society is above average level of masculinity orientation, number of womenled enterprises in the country is still now increasing. This has been the result of many changes related to gender and other supporting activities from the community. The main objective of the research was to unravel the challenges faced by female entrepreneurs in some main cities and provinces in Vietnam. Results were derived through a survey with 171 respondents and qualitative in-depth interview based study of a sample of 15 women entrepreneurs operating in different districts in Ha Noi, Ho Chi Minh City. These women are doing business in different fields and most of them are in sectors that are suitable with women such as hair and beauty, food, textile, education,… The research concluded that Vietnam women entrepreneurs face constraints mostly in matters related to access to finance, lack of information on market data, lack of access to resources and lack of digital distribution channels. Besides, nearly 30 percentages of them are still unable to control their income from the business which is one of the result of family’s influences to the business decision. 

This paper investigates the determinants of TFP at firm level using a sample of 370 firms located in 58 cities and provinces of Vietnam. These firms participated in the business census of the General Statistics Office of Vietnam in 2015 and reported R&D activities. The regression result indicates that for firms in Vietnam, factors have a significant and positive effect on TFP include absorptive capacity (proxied by R&D activities), spatial spillovers, export activities and financial constraints. Nevertheless, there is not enough evidence to conclude that political affiliation affects TFP for Vietnamese firms.

Section J, Chapter 18 of the Trans-Pacific Partnership (TPP) Agreement on Internet Service Providers (ISP), with the objectives of providing copyright holders with effective legal remedies against online copyright infringement whereas properly limit the scope of liability of ISPs for copyright infringements committed through their platforms that they do not control, initiate or direct. The later objective is to be achieved via the so-called Safe Harbours for ISPs. To prepare Vietnam for the implementation of ISP provisions of the TPP Agreement, this paper shall provide: (i) a overview of the evolution of ISP liability regimes and Safe Harbours (ii) an examination of the legal, technological and economic foundations for the development of ISP liability regimes and statutory Safe Harbours; (ii) A comparative comparison among Vietnam’s current limitations on copyright liability of ISP with the Safe Harbor provisions in TPP Agreement; and (iii) recommendations on a strategic approach to the implementation of TPP’s Safe Harbor provisions.  

In this paper, we evaluate the economic value that arise from incorporating conditional volatility when forecasting the covariance matrix of returns for both short and long horizons in the Vietnamese stock market, using the volatility timing framework of Fleming et al. (2001). We report three main findings. First, investors are willing to pay to switch from the static to a dynamic volatility timing strategy. Second, there is negligible difference in forecast performance among short and memory volatility models. However, the more parsimonious EWMA family models tend to produce better forecasts of the covariance matrix than those produced by the GARCH family volatility models at all investment horizons. Third, when transaction costs are taken into account, the gains from daily rebalanced dynamic portfolios deteriorate. However, it is still worth implementing the dynamic strategies at lower rebalancing frequencies. Our results are robust to estimation error in expected returns, the choice of risk aversion coefficient and estimation windows.       

This paper aims to develop a scale for hard-life experiences through the psychological sense. Past hardships can impact individuals' cognition, stress levels, and resilience.  This scale can be applied in various research areas, such as psychology, health, behavior, and decision-making in organizations. Learning about hard-life experiences is one aspect of longitudinal studies on the historical life of key leaders, who are business owners, crucial managers, and entrepreneurs focusing on the traumatic feeling during lifetime living from childhood to adulthood. A total of 149 key leaders who are business owners, crucial managers, and entrepreneurs in Vietnam responded to a survey. Structural equation modeling investigated the validity and reliability of hard-life experience measurement scales with two coherent constructs. The findings of this research discovered two sub-scales chronic and acute hard-life experiences to measure key leaders’ hardship during their lifetime, equivalenting for the period of childhood up to adolescence, and the adult period of individual key leaders essentially. This study makes a significant contribution by introducing a new benchmark to the existing literature on the experiences of business owners, crucial managers, and entrepreneurs. Scholars can later use this scale to investigate relationships between hard-life experience factors and others by quantitative methods.

India and China are two emerging economic giants on global map. Their rise is good for the globe, which has enough space to accommodate the growth aspiration of the people in both the countries. The contribution of both economies to the global trade is significant. They can play a vital role in the creation and facilitation of global trade by enhancing their respective trade as well as their trade with each other. This paper analyzes the emerging trends in Chinese trade, Indo-China trade and explores the issues which are hampering the growth and development of trade between the two emerging economies of the world as there has been enormous potential of expansion and diversification of trade. The paper further gives guide-posts for improving the trade relation between India and China.

Although there are many studies proving the close relationship between capital structure and firm value, contradicting results show that this relationship depends on research methods or characteristics of businesses. Does the decision on capital structure in low-value firms have different influence compared to high-value firms? This paper overviews literature on the effect of capital structure on firm value, and provides an empirical study on non-financial listed companies on Vietnam’s Stock market in the period from 2011 to 2017. By using quantile regression method based on the panel data from 446 companies with 3122 observations, the results show that leverage has a positive impact on firm value when it is low and a opposite effect when it is high. These findings suggest that low-value firms should raise capital by taking more debt, whereas high-value firms should raise capital by issuing more shares.

This paper applies the ordinary least square regression model to estimate the effects of the human capital on the business performance of small and medium enterprises (SMEs) in Vietnam, emphasizing on the human capital of the firm owner. We exploit the cross-sectional data of SMEs for the year 2009. The estimated results show that basic and professional education of the firm owner are important factors affecting the success of the firm. Further, experience in owning a business can help the firm owners enhance their performance. Finally, knowledge from learning is seen to have a strong effect on entrepreneurial performance.

This study investigates the impact of change of macroeconomic variables on equity risk premium of Ho Chi Minh stock market and some important sectors for period January 2007- September 2015. The paper applies bounds testing approach to cointegration to find the long run and short run relationships. The results show that there are long run relationships between equity risk premium for both market and sectoral analysis with some selected macroeconomic variables. In the long run, inflation rate exert negative impact on excess returns except for the financial sector. However, in the short run, an increase in exchange rate volatility significantly reduces equity risk premium of market and all sectors. These findings shed some light for monetary authorities to implement monetary policy.