Wyniki wyszukiwania - Biblioteka Nauki

1

The Risk Level of Vietnam Listed Hotel, Tourism and Entertainment Industry Firms After The Global Crisis 2009-2011

100%

Huy D. T. N.

Kwartalnik Naukowy Uczelni Vistula

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2018

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nr 3(57)

136-149

EN

This article gives some quantitative results based on evaluating the market risk of the listed firms in the Viet Nam tourism industry (also including tourism, hotel and entertainment groups), especially after the financial crisis 2009-2011. First, by using quantitative and analytical methods to estimate asset and equity beta of total 22 listed companies in Viet Nam tourism industry with a proper traditional model, we found out that the beta values, in general, for many institutions are acceptable. Second, we recognised that the risk level, measured by equity and asset beta mean, decreases when using leverage (asset beta mean value of 0.403 decreasing from equity beta mean of 0.588). Third, by changing leverage in 3 scenarios, we recognised the dispersion of the risk level, measured by equity beta var of 0.892, in the entertainment industry is the highest, compared to the rest 2 industries. Finally, this paper provides some outcomes that could provide companies and the government more evidence in establishing their policies in governance.

PL

W artykule przedstawiono niektóre wyniki badań ilościowych oparte na ocenie ryzyka rynkowego notowanych na giełdzie firm w przemyśle turystycznym Wietnamu (włączając również grupy z branży turystycznej, hotelarskiej i rozrywkowej), szczególnie po kryzysie finansowym lat 2009-2011. Po pierwsze, używając metod ilościowych i analitycznych do oszacowania współczynnika beta aktywów i kapitału własnego ogółu 22 notowanych na giełdzie spółek wietnamskiego przemysłu turystycznego wraz z właściwym modelem tradycyjnym, ustaliliśmy, że wartości współczynnika beta generalnie dla wielu instytucji są do przyjęcia. Po drugie, uznaliśmy, że poziom ryzyka, mierzony średnią współczynnika beta kapitału własnego i aktywów, obniża się wraz z zastosowaniem dźwigni finansowej (wartość średniej współczynnika beta w wysokości 0,403 zmniejsza się w porównaniu ze średnią współczynnika beta kapitału własnego w wysokości 0,588). Po trzecie, poprzez zmianę dźwigni finansowej w 3 scenariuszach, uznaliśmy, że dyspersja poziomu ryzyka, mierzona współczynnikiem beta zmienności kapitału własnego w wysokości 0,892, jest najwyższa w branży rozrywkowej w porównaniu z pozostałymi dwiema branżami. Na koniec przedstawiono pewne wyniki, które mogą dać firmom i rządowi więcej argumentów na kształtowanie ich polityk w sferze zarządzania.

2

Management Issues in Medical Industry in Vietnam

63%

Dat P. M. , Huy D. T. N.

Management

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2021

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tom Vol. 25, no. 1

141--154

EN

Stock exchange has impacts on activities and capitals of medical companies in Vietnam market. However, medical firms still need researches to address some management issues including good practices of governance, good resources allocation and better risk management policies. Authors uses quantitative analysis and statistics, together with qualitative methods including synthesis and explanatory methods. We figure out CPI and stock price has negative relationship while there is positive correlation between stock price and Risk free rate (Rf). In conclusion, authors also propose total quality management perspective as well as recommend macro policies that affect company performance. For example, exchange rate policy could support USD/VND just little bit while inflation policy need to be controlled at low level. Key words: management capabilities, medical industry, Vietnam, TQM.

3

Risk management under impacts of macro economic factors in a big seafood Ex-Import Firm - AnGiang Fisheries Ex-Import jsc. in Vietnam

63%

Thach N. N. , Huy D. T. N.

Management

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2021

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tom Vol. 25, no. 1

172--185

EN

AnGiang Fisheries Ex-Import Joint Stock Company (AGF) was established in 2001. Agifish has traditionally been a leader in the fields of production and business activities, scientific research in the field of fingerling production, seafood processing technology and the development of value added products processed from Basa-fish, Tra-fish. Agifish cares about building a spirit of solidarity between leaders, managers and workers striving for the development of the Company. Because we figure out there isa research gap in which many previous studies forgot to explore both internal and external macroeconomic elements and their impacts on stock price of Agifish (AGF), a big Vietnam fisheries firm, in the context Viet Nam and the US economies receive impacts from global economic crisis. With the using of quantitative analysis and statistics, regression OLS, together with qualitative methods including synthesis, comparison and explanatory methods, authors recognize that, in a six factor model, AGF stock price goes up together with effects from increase in GDP growth and lending rate declines. Last but not least, our research model can be expanded to other markets.

4

Sustainable business solutions for traditional handicraft product in the Northwestern provinces of Vietnam

51%

Hai N. T. , Duong N. T. , Huy D. T. N. , Hien D. T.

Management

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2021

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tom Vol. 25, no. 1

209--233

EN

Local tourism development requires us to consider many solutions, among them is sustainable solutions for business development of traditional handicraft products. This study is done based on surveys of northwestern provinces of Vietnam, in which authors use statistics, questionnaires and charts. Research findings show us that despite of potential chances, tourism activities still mainly exploit the value of available natural resources, are heavily spontaneous, lack of planning, small-scale tourism business, lack of creativity and diversity in tourism activities. services, infrastructure and quality of tourism service are limited. Our study also indicated that macro factors affect tourism activities.

5

Vietnam’s meat import market under Impacts of the European -Vietnam Free Trade Agreement and quality management demand

51%

Minh N. D. , Viet N. L. T. , Huy D. T. N.

Management

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2021

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tom Vol. 25, no. 1

99--117

EN

The impact of Free Trade Agreement (FTA) on commercial business of the member could be assessed by the potential and tangible effects. This paper is adopted by Partial equilibrium theory and SMART tool to measure the impact of EVFTA on the Vietnamese meat import (HS code 02). The result of this model is claimed that EVFTA has a huge impact on boosting the meat import from EU to Vietnam. However, the value of import in this category from European nations in each country and good fluctuated significantly. This study also proposes some measures for domestic businesses and the government to ensure the benefits on Vietnam’s livestock industry. Last but not least, meat quality management is one of vital issues under EFVTA and global competitiveness to meet higher expectation of consumers. Good food (meat) manufacturing practices need to be applied. That is the social contribution value of this paper.

6

Reforming specialized inspection procedures to improve business environment in Vietnam for trade facilitation implementation

45%

Nga L. T. V. , Huy D. T. N. , Hang N. N. T. , Lan L. T. , Thach N. N.

Management

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2021

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tom Vol. 25, no. 1

234--258

EN

Our study aims to analyze and assess the process of reforming the specialized inspection procedures in Vietnam which is included in Vietnam’s trade facilitation implementation program, and suggesting some recommendations for Vietnam to do the reform to improve business environment and enhance Vietnam’s national competitiveness. By synthesizing and analyzing secondary data from creditable sources such as World Bank, UNESCAPE, UNCTAD, WTO, VCCI, General Department of Vietnam Customs, as well as interviewing officials from Ministry of Industry and Trade of Socialist Republic of Vietnam, etc. Ha and Lan (2021) stated Economic regulatory reform in Vietnam started in the early 1990s and accelerated when the country shifted its focus to economic integration policy by acceding to the World Trade Organization (WTO) in 1995 and engaging in regional free trade agreements in the Association of Southeast Asian Nations (ASEAN). After analyzing and assessing the real situation of Vietnam’s trade facilitation and specialized inspection reforms, this paper would like to suggest some recommendations to continuously implement specialized inspection reforms, implement trade facilitation, improve Vietnam’s business environment and enhance Vietnam’s national competitiveness.

7

Impact of macro economic factors and financial development on energy projects - case in ASEAN countries

45%

Hanh H. T. , Huy D. T. N. , Phuong N. T. T. , Nga L. T. V. , Anh P. T.

Management

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2020

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tom Vol. 24, no. 2

146--157

EN

ASEAN (The Association of SouthEast Asian Nations) demand on energy is depending on economic growth of each country, resources, and political and regulations of each country. This study aims to investigate the role of international trade, financial development, foreign direct investment (FDI) on the consumption of renewable energy (RE) in ASEAN countries of the world. The findings explore that positive nexus among the international trade, real output, financial development, foreign direct investment and consumption of RE. Last but not least, this paper will propose several recommendations and policy suggestion for ASEAN countries to manage and encourage better renewable energy projects in the region. One of its original value is that, in the globalization and integration era, environment pollution will affect all ASEAN countries and in the region, so these nations need to link together to implement renewable projects for environment protection and for further generation.

8

Current situation of Bitcoin management and use: perspectives from the world and recommendations for Vietnam

45%

Hang B. T. T. , Huy D. T. N. , An P. T. , Ngoc N. T. B. , Duyen H. T. M.

Management

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2020

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tom Vol. 24, no. 2

209--235

EN

The research aimed to evaluate suitability of Bitcoin and its platform in emerging markets such as Vietnam. We used qualitative analysis combined with data collection method published, statistics, analysis, synthesis, comparison, to generate qualitative comments and discussion; evaluate results, the article analyzed and evaluated the impacts of Bitcoin and virtual currency on society of Vietnam, both positive and negative sides. It was found that virtual currency not accepted in Vietnam as means of payment yet, while many nations in the world accept it. We need to complete the legal framework for virtual currencies in general, Bitcoin in particular. The State should continue to have policies to improve information technology infrastructure, build and improve the capacity of the contingent of financial experts, encryption, and security experts and give warning risks in virtual currency transactions. The scientific value of paper is using experiences from previous studies in other countries to generate recommendations for conditions of Bitcoin development in merging markets. Last but not least, the research was limited to the case of Vietnam; hence, we can expand research to other Asian countries or other emerging markets.

9

The measurement of successful management via a net profit maximization model with ten factors and financial accounting disclosure policy- case of Vinamilk in F&B Industry in Vietnam

45%

Nga L. T. V. , Lan N. T. N. , Yen L. L. , Huy D. T. N. , Thuy D. M.

Management

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2020

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tom Vol. 24, no. 2

1--19

EN

When a firm has better disclosure policy of financial accounting information it will attract more investment. Many factors affecting accounting information disclosure policy include firm size, leverage, industry characteristics, investor types, etc. And good financial accounting data disclosure will help to reduce risk level of firms. At micro level, cost and net sale factors will affect net profit while at macro levels, risk free rate and exchange rate will impact. According to Nikkei Asian Review, Vinamilk (VNM) is the only brand in F&B industry and the domestic industry leader which ranked 25th among 300 listed companies in the List of ASIA300 Power Performers. It leads the organic trend in milk industry and has made very positive contributions to the overall achievements of economic and social values. Good business management requires us to consider the impacts of multi macro and micro factors on net profit, both internal and external factors, and it contributes to promoting business plan and economic policies for economic growth and stabilizing business operation. By data collection method through statistics, analysis, synthesis, comparison, quantitative analysis to generate qualitative comments and discussion; using econometric method to perform regression equation and evaluate quantitative results, the article analyzed and evaluated the impacts of ten (10) macroeconomic factors such as: stock price, VNIndex, risk free rate, lending rate, cost, sale, inflation, GPD growth, S&P500, exchange rate, etc. on net profit of a leading milk listed company, Vinamilk (VNM) in Vietnam in the 10-year period of 2010-2019, both positive and negative sides. From that regression model and analysis, it will draw leadership features, strengths of this industrial leader. The results of quantitative research, in a ten factor model, show that the decrease in GDP growth and risk free rate, inflation and increase in net sale will have a significant effect and increase VNM net profit, with the highest impact coefficient, the second is decreasing cost. This research finding and recommended policy also can be used as reference in policy for F&B system in many developing countries.

10

Plans for better business performance of Sony in Japan - and suggestions for management and financial accounting transparency

38%

Dat N. D. , Lan N. T. N. , Huy D. T. N. , Yen L. L. , Dung N. T. , Dat P. M.

Management

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2020

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tom Vol. 24, no. 2

132--145

EN

Through years Sony in Japan has shown success in bringing to themarket high quality products, and via technical inventions. Today risk management is one of vital issues in Sony to maintain its reputation in global markets. The purpose of this study is to find out impacts of economic factors at macro level on net profit of a big technological giant like Sony. We found that movement of net profit in big firms such as Sony will reflect the business health of technology system and the whole economy. The results of quantitative research, in a seven factor model, show that the increase in inflation, GDP (increasing too much) and lending rate and reducing risk free rate has a significant effect on reducing Sony net profit with the highest impact coefficient, the second is decreasing the exchange rate. Last but not least, this study proposes risk management solutions and business management plans to lower business risks, cost and enhance its net profit.

11

Optimizing the interaction between two closed-loop supply chains based on inverse logistics using the game theory method

32%

Trung N. D. , Huy D. T. N. , Chetthamrongchai P. , Mohsen K. S. , Iskandar A. S. , Nurjaya A. , Sunarsi D. , Singh K. , Chupradit S.

Foundations of Computing and Decision Sciences

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2022

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tom Vol. 47, No. 4

455--467

EN

Over the past few years, attention to environmental problems, legal necessities, and economic advantages emerging from reproduction activities has attracted attention to reverse logistics activities in the form of a closed-loop supply chain, whether in industry or scientific research. The current study aims to model competitiveness and comparison between two closed-loop three-level supply chains, each of which includes a manufacturer, a retailer, and a third party to collect the products used by the customer, taking into account the concepts of game theory and the existence of aggregates. Moreover, a separate supplier for each chain is considered. In the forward supply chain, the manufacturer produces new products using new components or re-used products that have been collected from the consumer, then sells these products mainly to the retailer, and the retailer sells them. In the reverse chain, the collector provides the used products to the manufacturer after collection. The study utilized the definitions and concepts of game theory to model this closed loop chain as a Stackelberg game to obtain the optimal value of wholesale and retail price and the optimal value of the product return coefficient for the collector. Finally, the models based on some numerical examples are solved. Given the results, the remanufacturing costs have a significant role in making more profits for all members in such chains, and competitive chains should attempt to remanufacture the products at lower costs.

12

Integrated pricing and inventory control for perishable products, taking into account the lack of backlog and inventory management policy by the seller

32%

Assiddiqi M. A. , Anantadjaya S. P. , Ahmad I. , Le K. , Iswanto A. H. , Trung N. D. , Al-Sudani A. Q. A. S. , Huy D. T. N. , Mutlak D. A.

Foundations of Computing and Decision Sciences

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2022

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tom Vol. 47, No. 4

371--382

EN

Recently, utilizing appropriate inventory control policy and determining the optimal selling price for various goods has been the main topic of scientific and industrial research. Inventory management policy 1 by the seller is one solution that improves the chain's performance by creating coordination between members of the supply chain. The current study attempts to devise an integrated model of inventory pricing and control under the inventory management policy by the seller for perishable goods with shortages is considered. The purpose of presenting the model is to determine the optimal price, the optimal repayment time, and the order size, in order to maximize the profit. To acquire those optimal values, the profit functions of the buyer and the seller are taken into account. Given the results acquired, it is demonstrated that at any cost, the repayment time is unique and optimal. It is concluded that with the optimal recovery time available, the objective function is a concave function of price, and its optimal value is available. Furthermore, utilizing the inventory management policy by the seller could be a proper means to reducing retailer costs while raising their profit.