Search results for: Vietnam’s market

Authors: Rajkishore Nayak, Tarun Panwar, Majo George

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The study focuses on investigating the factors that influence the growth of fashion and textile manufacturing in the Sub-Saharan Africa (SSA) countries. This paper endeavours to identify, analyse and evaluate the critical factors associated with the growth of fashion and textile manufacturing in SSA countries. This research has done a Strength, Weakness, Opportunity, and Threat (SWOT) analysis based on the available literature and the knowledge of authors in garment manufacturing and export. It was found that the SSA countries have shown little growth in fashion and textile manufacturing and export from the starting of the year 2000. Unlike the developing countries such as Vietnam and Bangladesh, the total export to the US, the EU and other parts of the world has declined. On the other hand, the total supply of fashion and textiles to the domestic market has been in rise. However, the local communities still need to rely on other countries to meet their demand. Availability of cheaper imported clothes from other countries such as Bangladesh, China and Vietnam have made it difficult for the local manufacturers to produce at a cheaper price.

Keywords: Sub-Saharan Africa, developing countries, apparel industry, fashion and textile, sustainable fashion

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Authors: Thanh Van Hoang, Tien Yin Chou, Yao Min Fang, Yi Min Huang, Xuan Linh Nguyen

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Reliable information on the spatial distribution of annual rainfall and temperature is essential in research projects relating to urban and regional planning. This research presents results of a classification of temperature and rainfall in the Red River Delta of northern Vietnam based on measurements from seven meteorological stations (Ha Nam, Hung Yen, Lang, Nam Dinh, Ninh Binh, Phu Lien, Thai Binh) in the river basin over a thirty-years period from 1982-2011. The average accumulated rainfall trends in the delta are analysed and form the basis of research essential to weather and climate forecasting. This study employs interpolation based on the Kriging Method for daily rainfall (min and max) and daily temperature (min and max) in order to improve the understanding of sources of variation and uncertainly in these important meteorological parameters. To the Kriging method, the results will show the different models and the different parameters based on the various precipitation series. The results provide a useful reference to assist decision makers in developing smart agriculture strategies for the Red River Delta in Vietnam.

Keywords: spatial interpolation method, ArcGIS, temperature variability, rainfall variability, Red River Delta, Vietnam

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Authors: Phuong Nguyen, Trung Tran

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Along with the global ongoing energy transition, Vietnam has indicated a strong commitment in the last COP events on the zero-carbon emission target. However, it is a real challenge for the nation to replace fossil-fired power plants by a significant amount of renewable energy sources (RES) while maintaining security of supply. The unpredictability and variability of RES would cause technical issues for supply-demand balancing, network congestions, system balancing, among others. It is crucial to take these into account while planning the future grid infrastructure. This study will address both generation and transmission adequacy and reveal a comprehensive analysis about the impact of ongoing energy transition on the development of Vietnam power system in 2030. This will provide insight for creating an secure, stable, and affordable pathway for the country in upcoming years.

Keywords: generation adequacy, transmission adequacy, security of supply, energy transition

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Authors: Doan Van Chinh, Bui Thi Kien Trinh

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This paper outlines some statistical properties of residual sea level (RSL) at six representative tidal stations located along the coast of Vietnam. It was found that the positive RSL varied on average between 9.82 and 19.96cm and the negative RSL varied on average between -16.62 and -9.02cm. The maximum positive RSL varied on average between 102.8 and 265.5cm with the maximum negative RSL varied on average between -250.4 and -66.4cm. It is seen that the biggest positive RSL ere appeared in the summer months and the biggest negative RSL ere appeared in the winter months. The cumulative frequency of RSL less than 50 cm occurred between 95 and 99% of the times while the frequency of RSL higher than 100 cm accounted for between 0.01 and 0.2%. It also was found that the cumulative frequency of duration of RSL less than 24 hours occurred between 90 and 99% while the frequency of duration longer than 72 hours was in the order of 0.1 and 1%.

Keywords: coast of Vietnam, residual sea level, residual water, surge, cumulative frequency

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Authors: Howard Chitimira

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The European Union (EU) was probably the first body to establish multinational anti-market abuse laws aimed at enhancing the detection and curbing of cross-border market abuse activities in its member states. Put differently, the EU Insider Dealing Directive was adopted in 1989 and was the first law that harmonised the insider trading ban among the EU member states. Thereafter, the European Union Directive on Insider Dealing and Market Manipulation (EU Market Abuse Directive) was adopted in a bid to improve and effectively discourage all the forms of market abuse in the EU’s securities and financial markets. However, the EU Market Abuse Directive had its own gaps and flaws. In light of this, the Market Abuse Regulation and the Criminal Sanctions for Market Abuse Directive were enacted to repeal and replace the EU Market Abuse Directive in 2016. The article examines the adequacy of the EU Market Abuse Directive and its implementation in the United Kingdom (UK) prior to the British exit (Brexit). This is done to investigate the possible implications of the Brexit referendum outcome of 23 June 2016 on the future regulation of market abuse in the UK.

Keywords: market abuse, insider trading, market manipulation, European Union, United Kingdom

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Authors: Do Thi Ha, Khanitta Nuntaboot

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Background: Competency of nurses is vital to safe nursing practice as well as essential component to drive quality of nursing services. There exists little up to date information concerning actual competency among Vietnamese nurses. Purposes: The purpose of this study is to identify the actual nursing competency among nurses in clinical settings in Vietnam. Methods: A qualitative study, ethnographic method, comprised of the participant-observation, in-depth interview, and focus group discussion with multidisciplinary groups of nurses employing in Cho Ray hospital, Vietnam, managers/administrators, nurse teachers, medical doctors, other health care providers, patients and family members which derived from purposeful sampling technique. Content analysis was used for data analysis. Results: Five essential themes of nursing competencies among nurses were identified include (1) knowledge, (2) skills, (3) attitude and value-based nursing practice, (4) legal and ethical competencies, and (5) transcultural competencies. Basic and advanced knowledge were identified as further two dimensions of knowledge. There were five sub themes identified as further dimensions of skills include technical skills, communication skills, organizing and management skills, teamwork and interrelationship, and critical thinking skills. Conclusions: The findings from this study provide valuable information and understanding of the actual competency among nurses in clinical settings in Vietnam. It is expected that this understanding would assist in developing a guide to nursing education and training, nursing practice and relevant policy regulation used for promoting nursing competency among nurses.

Keywords: ethnographic method, nursing competency, qualitative design, Vietnam

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Authors: Lam Hong Lan, Gabor Sarlos

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It is hard to search for best practices in promotion for local fashion brands in Vietnam as the industry is still very young. Local fashion start-ups have grown quickly in the last five years, thanks in part to the internet and social media. However, local designer/owners can face a huge challenge when competing with international brands in the Vietnamese market – and few local case studies are available for guidance. In response, this paper studied how local small- to medium-sized enterprises (SMEs) promote to their target customers in order to compete with international brands. Knowledge of both successful and unsuccessful approaches generated by this study is intended to both contribute to the academic literature on local fashion in Vietnam as well as to help local designers to learn from and improve their brand-building strategy. The primary study featured qualitative data collection via semi-structured depth interviews. Transcription and data analysis were conducted manually in order to identify success factors that local brands should consider as part of their promotion strategy. Purposive sampling of SMEs identified five designers in Ho Chi Minh City (the biggest city in Vietnam) and three designers in Hanoi (the second biggest) as interviewees. Participant attributes included: born in the 1980s or 1990s; familiar with internet and social media; designer/owner of a successful local fashion brand in the key middle market and/or mass market segments (which are crucial to the growth of local brands). A secondary study was conducted using social listening software to gather further qualitative data on what were considered to be successful or unsuccessful approaches to local fashion brand promotion on social media. Both the primary and secondary studies indicated that local designers had maximized their promotion budget by using owned media and earned media instead of paid media. Findings from the qualitative interviews indicate that internet and social media have been used as effective promotion platforms by local fashion start-ups. Facebook and Instagram were the most popular social networks used by the SMEs interviewed, and these social platforms were believed to offer a more affordable promotional strategy than traditional media such as TV and/or print advertising. Online stores were considered an important factor in helping the SMEs to reach customers beyond the physical store. Furthermore, a successful online store allowed some SMEs to reduce their business rental costs by maintaining their physical store in a cheaper, less central city area as opposed to a more traditional city center store location. In addition, the small comparative size of the SMEs allowed them to be more attentive to their customers, leading to higher customer satisfaction and rate of return. In conclusion, this study found that these kinds of cost savings helped the SMEs interviewed to focus their scarce resources on producing unique, high-quality collections in order to differentiate themselves from international brands. Facebook and Instagram were the main platforms used for promotion and brand-building. The main challenge to this promotion strategy identified by the SMEs interviewed was to continue to find innovative ways to maximize the impact of a limited marketing budget.

Keywords: Vietnam, SMEs, fashion brands, promotion, marketing, social listening

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Authors: S. Avdasheva, D. Tsytsulina

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In many regulated industries over the world price cap as a method of price regulation replaces cost-plus pricing. It is a kind of incentive regulation introduced in order to enhance productive efficiency by strengthening sellers’ incentives for cost reduction as well as incentives for more efficient pricing. However pricing under cap is not neutral for competition in the market. We consider influence on competition on the markets where benchmark for cap is chosen from when sellers are multi-market. We argue that the impact of price cap regulation on market competition depends on the design of cap. More specifically if cap for one (regulated) market depends on the price of the supplier in other (non-regulated) market, there is sub-type of price cap regulation (known in Russian tariff regulation as ‘netback minus’) that enhance incentives to collude in non-regulated market.

Keywords: price regulation, competition, collusion

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Authors: Giang Vu, Duong Nguyen, Yuan-Ling Chen

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Vietnam is a fast developing country with highly economic growth, and Vietnam organizations strive to utilize high performance work system (HPWS) in reinforcing employee in-role performance. HPWS, a bundle of human resource (HR) practices, are composed of eight sets of HR practices, namely selective staffing, extensive training, internal mobility, employment security, clear job description, result-oriented appraisal, incentive reward, and participation. However, whether HPWS stimulate employee extra-role behaviors remains understudied in a booming economic context. In this study, we aim to investigate organizational citizenship behavior (OCB) in a Vietnam context and, as a central issue, disentangle how HPWS elicits in employee OCB. On the other hand, recently, a deliberation of so-called 'black-box' HPWS issue has explored the role of employee commitment, suggesting that organizational commitment is a compelling source of employee OCB. We draw upon social exchange theory to predict that when employees perceive the organizational investment, like HPWS, in heightening their abilities, knowledge, and motivation, they are more likely to pay back with commitment; consequently, they will take initiatives in OCB. Hence, we hypothesize an individual level framework, in which organizational commitment mediates the positive relationship between HPWS and OCB. We collected data on HPWS, organizational commitment, OCB, and demographic variables, all at line managers of Vietnamese firms in Hanoi and Hochiminh. We conclude with research findings, implications, and future research suggestions.

Keywords: high performance work system, organizational citizenship behavior, organizational commitment, Vietnam

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Authors: Trinh Hoang Hong Hue

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Citizen Participation has been largely considered as an important objective of improving democracy and government decision-making in Vietnam recently. The Public Administration Performance Index Survey data (PAPI) indicated that citizens in provinces that have a higher proportion of male often less participate in local governance than those in provinces that have lower proportion of male. That means Vietnamese women more actively participate at the local governance rather than men. Thus this study will explore factors involving gender differences that impact on citizen participation at the local level. Applying qualitative approach, mainly in-depth interview, this study explores four diverse perspectives on enhancing citizen participation for both women and men at the local governance including civic knowledge; the trust of citizens; suitable policies of local government; and the role of NGOs. Furthermore, this study also points out two crucial reasons that are leading to the gender differences of citizen participation at the local level. Firstly, because Vietnamese women play the main role in family financial management; then they are willing to highly contribute to ‘voluntary contributions’; one of the four sub-dimensions of the concept ‘citizen participation’ of PAPI. Secondly, in Vietnam, women are deeply prone to be interested in the small issues at the local governance; whereas men are much keen on the bigger issues at national and international governance.

Keywords: citizen participation, gender, women, local governance, PAPI, Vietnam

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Authors: Walailak Atthirawong

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By the end of 2015, the Association of Southeast Asian Nations (ASEAN) countries proclaim to transform into the next stage of an economic era by having a single market and production base called ASEAN Economic Community (AEC). One objective of the AEC is to establish ASEAN as a single market and one production base making ASEAN highly competitive economic region and competitive with new mechanisms. As a result, it will open more opportunities to enterprises in both trade and investment, which offering a competitive market of US$ 2.6 trillion and over 622 million people. Location decision plays a key role in achieving corporate competitiveness. Hence, it may be necessary for enterprises to redesign their supply chains via enlarging a new production base which has low labor cost, high labor skill and numerous of labor available. This strategy will help companies especially for apparel industry in order to maintain a competitive position in the global market. Therefore, in this paper a generic model for location selection decision for Thai apparel industry using Fuzzy Analytical Network Process (FANP) is proposed. Myanmar, Vietnam and Cambodia are referred for alternative location decision from interviewing expert persons in this industry who have planned to enlarge their businesses in AEC countries. The contribution of this paper lies in proposing an approach model that is more practical and trustworthy to top management in making a decision on location selection.

Keywords: apparel industry, ASEAN Economic Community (AEC), Fuzzy Analytical Network Process (FANP), location decision

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Authors: Nguyen Quang Kim, Nguyen Thu Hien, Nguyen Thien Dung

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Flood disasters are increasing worldwide in both frequency and magnitude. Every year in Vietnam, flood causes great damage to people, property, and environmental degradation. The flood risk management policy in Vietnam is currently updated. The planning of flood mitigation strategies is reviewed to make a decision how to reach sustainable flood risk reduction. This paper discusses the basic approach where the measures of flood protection are chosen based on minimizing the present value of expected monetary expenses, total residual risk and costs of flood control measures. This approach will be proposed and demonstrated in a case study for flood risk management in Vinh Phuc province of Vietnam. Research also proposed the framework to find a solution of optimal protection level and optimal measures of the flood. It provides an explicit economic basis for flood risk management plans and interactive effects of options for flood damage reduction. The results of the case study are demonstrated and discussed which would provide the processing of actions helped decision makers to choose flood risk reduction investment options.

Keywords: drainage plan, flood planning, flood risk, residual risk, risk optimization

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Authors: Thao Thi Vu, Libby Lee-Hammond, Andrew McConney

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In Vietnam, the Vietnamese language is normally used as the language of instruction. The dominance of this language places children who have a different first language such as Indigenous children at a disadvantage when commencing school. This study explores preschool teachers’ beliefs about second language acquisition in Lai Chau provinces where is typical of highland provinces of Vietnam and the proportion of Indigenous minority groups in high. Data were collected from surveys with both closed-end questions and opened-end questions. The participants in this study were more than 200 public preschool teachers who come from eight different districts in Lai Chau. An analysis of quantitative data survey is presented to indicate several practical implications, such as the connection between teachers’ knowledge background that gained from their pre-service and in-service teacher education programs regarding second language teaching for Indigenous children and their practice. It also explains some factors that influence teachers’ beliefs and perspective about Indigenous children and pedagogies in their classes.

Keywords: indigenous children, learning Vietnamese, preschool, teachers’ beliefs

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Authors: Diep Thanh Tung, Joachim Aurbacher

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This study aims to measure the level of on-farm diversification in Vietnam. The empirical results of the research carried out reflect regional differences in terms of on-farm diversification and its determinants. Households in the northern regions have adapted to the fragmented and small-sized parcels of land held by diversifying their on-farm activities. In contrast, the Mekong delta region in the south of Vietnam is characterized by larger agricultural parcels and a specialization in rice production. Land use fragmentation, as reflected by a large number of plots in a given area, is one of the most important reasons for the high levels of on-farm diversification seen, while the higher share of non-farm income in total income is the reason of lower levels of on-farm diversification. Households have reacted to natural and economic shocks by diversifying their on-farm activities. The non-stationary Markov chain model used here shows various diversification scenarios and trends. In most cases, on-farm diversification generally tends to reduce over the next few years.

Keywords: diversification, simpson index, fixed effects, non-stationary markov chain

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Authors: D. T. Tran, H. P. Tran, L. G. Hoang, V. N. H. Bui, Q. T. Nguyen, A. K. Das

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This paper provides some insight information about a current situation of e-procurement implementation in Vietnam, including opportunities and challenges. A case study of Phuc Thien Company which is classified as a medium enterprise in the country, specialising on animal feed production. Since the technological development rapidly changes, companies have implemented advanced technologies in supply chain management to increase efficiency and gain collaboration amidst partners in their manufacturing and development activities. The findings of this research reveal strengths and ongoing weaknesses when Phuc Thien company internally implemented eProcurement system. Although cost savings, visibility of payment and speedy procurement process are one of the largest benefits of eProcurement implementation, the company faces greater hurdles, such as employee capability to use technology and their resistance to change, that overshadow everything else. In terms of governmental policy, the adaptation of e-invoicing has commenced since June 2015 in Vietnam, legal regulations and administrative framework related to e-Procurement carries various ambiguous in its content and extremely fragment. Hence, this adds a great burden to enterprises in general and Phuc Thien in particular in view of creating higher competitive advantage for animal feed industry in Vietnam as well as South East Asia region.

Keywords: procurement, e-procurement, animal feed industry, efficiency

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Authors: Van Chung Nguyen

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The purpose of this study is to study the current status of the value chain for fish distribution at Quang Binh Fishing Port with 360 research samples in which the research subjects are fishermen, traders, retailers, and businesses. The research uses the approach of applying the value chain theoretical framework of Kaplinsky and Morris to quantify and describe market channels and actors participating in the value chain and analyze the value-added process of these companies according to market channels. The analysis results show that fishermen directly catch fish with high economic efficiency, but processing enterprises and, especially retailers, are the agents to obtain higher added value. Processing enterprises play a role that is not really clear due to outdated processing technology; in contrast, retailers have the highest added value. This shows that the added value of the fish supply chain at Quang Binh fishing port is still limited, leading to low output quality. Therefore, the selling price of fish to the market is still high compared to the abundant fish resources, leading to low consumption and limiting exports due to the quality of processing enterprises. This reduces demand and fishing capacity, and productivity is lower than potential. To improve the fish value chain at fishing ports, it is necessary to focus on improving product quality, strengthening linkages between actors, building brands and product consumption markets at the same time, improving the capacity of export processing enterprises.

Keywords: Quang Binh fishing port, value chain, market, distributions channel

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Authors: Ha Hai Duong, Amnon Levy Livermore, Kankesu Jayanthakumaran, Oleg Yerokhin

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The issues of economic development, the environment and human health have been investigated since 1990s. Previous researchers have found different empirical evidences of the relationship between income and environmental pollution, health as determinant of economic growth, and the effects of income and environmental pollution on health in various regions of the world. This paper concentrates on integrative relationship analysis of GDP, carbon dioxide emissions, and health services and population health in context of Vietnam. We applied the dynamic generalized method of moments (GMM) estimation on datasets of Vietnam’s sixty-three provinces for the years 2000-2010. Our results show the significant positive effect of GDP on emissions and the dependence of population health on emissions and health services. We find the significant relationship between population health and GDP. Additionally, health services are significantly affected by population health and GDP. Finally, the population size too is other important determinant of both emissions and GDP.

Keywords: economic development, emissions, environmental pollution, health

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Authors: Anh Nguyen, Jane Fisher, Thach Tran, Anh T. T. Tran

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Trait Emotional Intelligence is the knowledge, beliefs, and attitudes an individual has about their own and other people’s emotions. It is believed that trait emotional intelligence is a component of personality. Petrides’ Trait Emotional Intelligence Questionnaire (TEIQue) is well regarded and well-established, with validation data about its functioning among adults from many countries. However, there is little data yet about its use among Asian populations, including adolescents. The aims were to translate and culturally verify the Trait Emotional Intelligence Adolescent Short Form (TEIQue-ASF) and investigate content validity, construct validity, and reliability among adolescents attending high schools in Vietnam. Content of the TEIQue-ASF was translated (English to Vietnamese) and back-translated (Vietnamese to English) in consultation with bilingual and bicultural health researchers and pilot tested among 51 potential respondents. Phraseology and wording were then adjusted and the final version is named the VN-TEIQue-ASF. The VN-TEIQue-ASF’s properties were investigated in a cross-sectional elf-report survey among high school students in Central Vietnam. In total 1,546 / 1,573 (98.3%) eligible students from nine high schools in rural, urban, and coastline areas completed the survey. Explanatory Factor Analysis yielded a four-factor solution, including some with facets that loaded differently compared to the original version: Well-being, Emotion in Relationships, Emotion Self-management, and Emotion Sensitivity. The Cronbach’s alpha of the global score for the VN-TEIQue-ASF was .77. The VN-TEIQue-ASF is comprehensible and has good content and construct validity and reliability among adolescents in Vietnam. The factor structure is only partly replicated the original version. The VN-TEIQue-ASF is recommended for use in school or community surveys and professional study in education, psychology, and public health to investigate the trait emotional intelligence of adolescents in Vietnam.

Keywords: adolescents, construct validity, content validity, factor analysis, questionnaire validity, trait emotional intelligence, Vietnam

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Authors: My Linh Hoang, Van Dung Hoang

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Environmental, Social, and Governance (ESG) factors have become a focus for companies globally, as businesses are now focusing on long-term sustainable goals rather than only operating for the goals of profit maximization. According to recent research, in several countries, companies have shown positive results in their financial performance by improving their ESG performance. The construction industry is one of the most crucial components of social and economic development; as a result, considerations for ESG factors are becoming more and more essential for companies in this sector. In Vietnam, the construction industry has been growing rapidly in recent years; however, it has yet to be discussed and studied extensively in Vietnam how ESG factors create impacts on corporate financial performance in general and construction corporations’ financial performance in particular. This research aims to examine the relationship between ESG factors and financial indicators in construction companies from 2011 to 2021 through panel data analysis of 75 listed construction companies in Vietnam and to provide insights into how these companies can better integrate ESG considerations into their operations to enhance their financial performance. The data was analyzed through 3 main methods: descriptive statistics, correlation coefficient analysis applied to all dependent, explanatory and control variables, and panel data analysis method. In panel data analysis, the study uses the fixed effects model (FEM) and random effects model (REM). The Hausman test will be used to select which model is suitable to be used. The findings indicate that maintaining a strong commitment to ESG principles can have a positive impact on financial performance. Finally, FGLS estimation will be performed when the problem of autocorrelation and variable variance appears in the model. This is significant for all parties involved, including investors, company managers, decision-makers, and industry regulators.

Keywords: ESG, financial performance, construction company, Vietnam

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Authors: Howard Chitimira

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In Australia, the market abuse prohibition is generally well accepted by the investing and non-investing public as well as by the government. This co-operative and co-ordinated approach on the part of all the relevant stakeholders has to date given rise to an increased awareness and commendable combating of market abuse activities in the Australian corporations, companies, and securities markets. It is against this background that this article seeks to comparatively explore the general enforcement approaches that are employed to combat market abuse (insider trading and market manipulation) activity in Australia and South Africa. In relation to this, the role of selected enforcement authorities and possible enforcement methods which may be learnt from both the Australian and South African experiences will be isolated where necessary for consideration by such authorities, especially, in the South African market abuse regulatory framework.

Keywords: insider trading, market abuse, market manipulation, regulation

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Authors: Uyi Kizito Ehigiamusoe

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The paper examines the impact of money market on economic growth in Nigeria using data for the period 1980-2012. Econometrics techniques such as Ordinary Least Squares Method, Johanson’s Co-integration Test and Vector Error Correction Model were used to examine both the long-run and short-run relationship. Evidence from the study suggest that though a long-run relationship exists between money market and economic growth, but the present state of the Nigerian money market is significantly and negatively related to economic growth. The link between the money market and the real sector of the economy remains very weak. This implies that the market is not yet developed enough to produce the needed growth that will propel the Nigerian economy because of several challenges. It was therefore recommended that government should create the appropriate macroeconomic policies, legal framework and sustain the present reforms with a view to developing the market so as to promote productive activities, investments, and ultimately economic growth.

Keywords: economic growth, investments, money market, money market challenges, money market instruments

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Authors: Minh Thi Hai Vo

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This article draws on in-depth interviews with state employees at public hospitals and universities in its institutional analysis of the autonomy practices of public service delivery units in Vietnam. Unlike many empirical and theoretical studies that view formal and informal institutions as complements or substitutes, this article finds no evidence of complementary or substitutive relationships. Instead, the article finds that formal institutions accommodate informal ones and that informal institutions tend to compete and interfere, with the existing and ineffective formal institutions. The result of such conflicting relationship is that the actual autonomy of public service delivery units is, in most cases, perceived to be greater than the formal autonomy they are given. In the condition of poor regulation, the informal autonomy may result in unethical practices including rent-seeking and corruption. The implication of the study finding is policy-makers need to redesign and reorganize the autonomisation of public service delivery units to make informal institutions support and reinforce formal ones in a complementary manner.

Keywords: autonomy, formal institutions, informal institutions, public service delivery units, Vietnam

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Authors: Yosra Mefteh Rekik

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A computational agent-based model of financial markets stresses interactions and dynamics among a very diverse set of traders. The growing body of research in this area relies heavily on computational tools which by-pass the restrictions of an analytical method. The main goal of this research is to understand how the stock market operates and behaves how to invest in the stock market and to study traders’ behavior within the context of the artificial stock markets populated by heterogeneous agents. All agents are characterized by adaptive learning behavior represented by the Artificial Neuron Networks. By using agent-based simulations on artificial market, we show that the existence of heterogeneous agents can explain the price dynamics in the financial market. We investigate the relation between market diversity and market efficiency. Our empirical findings demonstrate that greater market heterogeneity play key roles in market efficiency.

Keywords: agent-based modeling, artificial stock market, heterogeneous expectations, financial stylized facts, computational finance

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Authors: Galuh Pramesti

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In Indonesia, the rise of the middle class and consumer purchasing power has created a trend of shifting the traditional into a modern retail market. Development of the creative economy as an impact of the global economy has invaded the traditional market, due to low rents and minimum innovation, raising the issue of sustainability and urban resilience for survival of the traditional market. The study aims to understand the current market conditions by examining the challenges, resiliency, and identify the relationship between the traditional market and creative market. Using a single-case study approach as the research methodology, Santa Market has been chosen as the case study. It is a pilot project of collaboration between a traditional market and creative economy in Jakarta, Indonesia. The research was conducted as a qualitative study through in-depth interviews with the market vendors and the market management, besides a desk-based study of the leasing data and spatial analysis. The findings indicate traffic fluctuation as the main challenge. It is related to the tenant’s presence, rental fluctuation, gentrification, infrastructure, and market competition. Thus, the findings on resilience show a different response for creative and traditional markets. The traditional market’s response remained stable with minimum innovation, whereas the creative market relies on technological development. Regarding the relationship, supply and demand have become the main relationship occurring in Santa Market. It is then developed into the context of society and regulation. The conclusion provides recommendations for more solid regulation to protect the market tenants from stakeholder interests that can disrupt market viability, and a critical discussion on the concept of collaboration between traditional and creative markets. There is also a suggestion for further study on relation with the surroundings, to create a holistic study on how the collaboration can work well in the traditional market.

Keywords: creative economy, market sustainability, traditional market, urban resilience

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Authors: P. Nayak, Shakeel Shaikh

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In this paper, we analyse the apparel export performance of Southeast Asian Nations (ASEAN) in the world market. The study covers the 2003-2012 period at the sector as well as product levels (6 digit HS) and analysis is based HS 2002 nomenclature. We measure export similarity among Southeast Asian nations for the apparel sector (two digit HS-61 & 62), besides analysing the products performance in the world through Revealed Comparative Advantage (RCA) technique. Coupled with RCA, the price as a factor of competitiveness was examined from the available Unit Value Realizations (UVR). Further to this, the resource availability or outsourced from the region was considered as an extension to the analysis of competitiveness between the nations. With the help of these methodologies, we examine the degree of competition between the exports of southeast nations in the world market. Our results show that Cambodia, Indonesia, Thailand, and Vietnam are well performing states within ASEAN. The paper further delves into sustainability of the export performing countries within ASEAN.

Keywords: export competitiveness, export similarity index, revealed comparative advantage, unit value realisation

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Authors: Susmita Ghosh, Bhaskar Bhowmick

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Market is an important factor for start-ups to look into during decision-making in product development and related areas. Emerging country markets are more uncertain in terms of information availability and institutional supports. The literature review of market uncertainty reveals the need for identifying factors representing the market uncertainty. This paper identifies factors for market uncertainty using Exploratory Factor Analysis (EFA) and confirms the number of factor retention using an alternative factor retention criterion, ‘Parallel Analysis’. 500 entrepreneurs, engaged in start-ups from all over India participated in the study. This paper concludes with the factor structure of ‘market uncertainty’ having dimensions of uncertainty in industry orientation, uncertainty in customer orientation and uncertainty in marketing orientation.

Keywords: uncertainty, market, orientation, competitor, demand

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Authors: Peter Shi

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Algorithmic trading is a rapidly expanding domain within quantitative finance, constituting a substantial portion of trading volumes in the US financial market. The demand for rigorous and robust mathematical theories underpinning these trading algorithms is ever-growing. In this study, the author establishes a new stock market model that integrates the Efficient Market Hypothesis and the statistical arbitrage. The model, for the first time, finds probabilistic relations between the rational price and the market price in terms of the conditional expectation. The theory consequently leads to a mathematical justification of the old market adage: buy-low and sell-high. The thresholds for “low” and “high” are precisely derived using a max-min operation on Bayes’s error. This explicit connection harmonizes the Efficient Market Hypothesis and Statistical Arbitrage, demonstrating their compatibility in explaining market dynamics. The amalgamation represents a pioneering contribution to quantitative finance. The study culminates in comprehensive numerical tests using historical market data, affirming that the “buy-low” and “sell-high” algorithm derived from this theory significantly outperforms the general market over the long term in four out of six distinct market environments.

Keywords: efficient market hypothesis, behavioral finance, Bayes' decision, algorithmic trading, risk control, stock market

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Authors: Edwin Lerch, Dirk Audring, Cuong Nguyen Mau, Duc Ninh Nguyen, The Cuong Nguyen, The Van Nguyen

Abstract:

The National Load Dispatch Centre of Electricity Vietnam (EVNNLDC) and Siemens PTI investigated the stability of the electrical 500/220 kV transportation system of Vietnam. The general scope of the investigations is improving the stability of the Vietnam power system and giving the EVNNLDC staff the capability to decide how to deal with expected stability challenges in the future, which are related to the very fast growth of the system. Rapid system growth leads to a very high demand of power transmission from North to South. This was investigated by stability studies of interconnected power system with neighboring countries. These investigations are performed in close cooperation and coordination with the EVNNLDC project team. This important project includes data collection, measurement, model validation and investigation of relevant stability phenomena as well as training of the EVNNLDC staff. Generally, the power system of Vietnam has good voltage and dynamic stability. The main problems are related to the longitudinal system with more power generation in the North and Center, especially hydro power, and load centers in the South of Vietnam. Faults on the power transmission system from North to South risks the stability of the entire system due to a high power transfer from North to South and high loading of the 500 kV backbone. An additional problem is the weak connection to Cambodia power system which leads to interarea oscillations mode. Therefore, strengthening the power transfer capability by new 500kV lines or HVDC connection and balancing the power generation across the country will solve many challenges. Other countermeasures, such as wide area load shedding, PSS tuning and correct SVC placement will improve and stabilize the power system as well. Primary frequency reserve should be increased.

Keywords: dynamic power transmission system studies, blackout prevention, power system interconnection, stability

Procedia PDF Downloads 331

Authors: Nguyen Viet Tan

Abstract:

The Bahnar is one of 11 indigenous groups living in the Central Highlands of Vietnam. It is one among the four most popular groups in this area, including the Mnong who speak the same language of Mon Khmer family, while both groups of the Jrai and the Rhade belong to the Malayo-Polynesian language family. These groups once captured fertile plateaus, left their cultural and artistic heritage which affected the remaining small groups. Despite the difference in ethnic origins, these groups seem to share similar beliefs, customs and related folk arts after a very long time living beside each other. However, through an in-depth study, this paper points out the fact that the decorative patterns used by the Bahnar are different from the other ethnic groups, especially in color. Based on historical materials from the local museums and some studies in 1980s when all of the ethnic groups in this area had still lived in self-sufficient condition, this paper characterizes the traditional color scheme used by the Bahnar and identifies the difference in decorative motifs of this group compared to the others by pointing out they do not use green in their usual decorative patterns. Moreover, combined with some field surveys recently, through comparative analysis, it also discovers stylistic variations of these patterns in the process of cultural exchange with the other ethnic groups, both in and out of the region, in modern living conditions. This study helps to preserve and promote the traditional values and cultural identity of the Bahnar people in the Central Highlands of Vietnam, avoiding the fusion of styles among groups during the cultural exchange.

Keywords: Bahnar ethnic group, decorative patterns, the central highlands of Vietnam, the traditional color scheme

Procedia PDF Downloads 101

Authors: Mai Hoang Minh

Abstract:

Financial statements (FS) are tools which provide information to users for making business decisions. This article is going to present the survey which clarifies the role of financial statement to Commercial Banks’ loan decisions in Vietnam. Moreover, this also discusses about financial statement’s quality currently, thereby making suggestions for enterprises to enhance the usefulness of accounting information in borrowing activities.

Keywords: usefulness of financial statement, accounting information quality, loan decisions

Procedia PDF Downloads 255