This paper investigates the determinants on decision to conduct seasoned equity offerings (SEOs) of listed companies on the Ho Chi Minh Stock Exchange in Vietnam. Seasoned equity offerings (SEOs) are defined as the issue of more stocks by a firm to raise more capital after a primary issue. Using panel data collected from audited financial statements of 99 listed companies on the Ho Chi Minh Stock Exchange during 2014-2018, the study employs a logit regression model by fixed effects method to examine factors that affect the decision to implement seasoned equity offerings of those companies. The findings of this study show that profit, revenue growth and company's size have a positively significant impact on the decision, while dividend pay-out ratio negatively significantly influences the equity issuing decision. Furthermore, these results are robust after controlling for the forms of equity offerings, i.e. bonus stocks, stock dividends and rights to buy shares. These findings are consistent with economic theories such as agency theory, pecking order theory, and growth opportunity theory, and also could be explained by the real situations of the Vietnamese stock exchange. This study has important implications for corporate managers, policy makers and investors.

The research paper examines the influence of elections on the stock market. The study analyses whether the market reaction would be the same when a party wins and comes to power for the second consecutive time. The study employs Market Model Event study methodology. The sample period taken for the study is 2014 to 2019. A sample of 31 companies listed in Bombay Stock Exchange is selected at random for the purpose of the study. For the elections held in 2014, an event window of 82 days was taken with 39 days prior to the event and 42 days post event. The event (t0) being the declaration of the election results. For the elections held in 2019 an event window of 83 days was taken with 41 days prior to the event and 41 days post event. The results indicate that the market reacts positively with significantly positive Average Abnormal Returns. The findings of the study reveal that the impact on the market is not the same between any two elections even when the same party comes to power for the second time. The semi-strong form of efficient market hypothesis holds true in the context of emerging markets like India.

The paper examines the impact of information about cash flow from operating activities of firms listed on Vietnam's stock market to the decision making of individual investors. Data were collected from interviews with 160 individual investors about their investment decisions based on information on profit growth and cash flow growth from operating activities. T-test was conducted to research on Vietnam's stock market - a market considered as information that is not really public, transparent and ineffective. The research results show that: (1) investors do not care about cash flow from operating activities when making investment decisions if the company's profits grow positively, (2) information about cash flow from operating activities only affects the decisions of individual investors once profit growth is negative, and (3) conflicting information between profit growth and cash flow growth from business activities significantly affects the confidence and comfort of investors in Vietnam's stock market when they make investment decisions. Then, the study points out the mistake of investors when making investment decisions, and offers recommendations to investors when making investment decisions, not only concerned with profit growth, but also paying special attention to cash flow growth, especially cash flow from the company's business operations.

This study investigates whether other comprehensive income (OCI) reported in the statement of comprehensive income (one of the main financial statements after the adoption of K-IFRS) predicts a firm's future performance. Using the quarterly data of Korean listed companies, we examine the association between OCI estimates and future earnings. First of all, we find that OCI is positively associated with earnings in both 1- and 2-quarter ahead, supporting the predictive value of OCI. When we break down OCI into its individual components, our results suggest that the net unrealized gains/losses on available-for-sale (AFS) investment securities are positively associated with future earnings, while the other components (e.g., net unrealized gains/losses on valuation of cash flow hedge derivatives) present insignificant results. In addition, we investigate whether the reliability in OCI estimates enhances the predictive value of OCI to predict future performance. We find that the predictive ability of OCI, in particular the net unrealized gains/losses on available-for-sale (AFS) investment securities, becomes more pronounced when firms are audited by the Big 4 audit firms. Overall, our study suggests that information content embedded in OCI can provide decision-useful information that is helpful for the prediction of future firm performance.

The paper investigates the factors that affect the demand for a voluntary audit of small and medium-sized enterprises (SMEs) in Vietnam. A structured questionnaire survey of 284 SMEs was employed, preceded by in-depth interviews with auditors and SMEs' managers. The research used logistic regression estimator to address econometric issues and to improve the accuracy of the regression coefficients. The results show that the degree of director's view on voluntary audit, related stakeholder, degree of recommendation, and firm size have a statistically significant positive effect on audit decisions of SMEs while degree of audit fee has a statistically significant negative effect, and degree of subjective norm does not affect. This indicated that SMEs are more likely to have an external audit if they have some typical features: it is becoming larger in terms of size, and the directors consider that the audit has a relative benefit outweighing its cost. The research results suggested that Vietnam Government should make a statutory audit of SMEs' financial statements rather than make it an option for SMEs. The auditing firms were also recommended to actively take their audit services to SMEs rather than waiting for the SMEs' managers to contact them for their services.

The paper examines the characteristics and causes of the expectation gap of audit and assurance services. The paper has conducted three surveys with three target groups. In the first survey, participants are auditors, users of audit reports are subject in the second survey and in the third survey, and students major in auditing are selected. The content of the survey aims to find out the differences in perception of the survey participants on two issues: (i) responsibilities of auditors for detection frauds, errors, protection of the enterprise's assets and financial scandals, and (ii) the role of audit and auditors in making investment decisions and investor's belief. The research carried out survey from March to September 2019 with 165 responds. The collected data was processed by statistical software SPSS, version 23, and Mann-Whitney U test was used to analyze the results of the audit expectation gap between the auditor group and the users of audit report group and between the student group and users of audit report group. The results showed that there exists an expectation gap in the responsibility of auditors for detection of all frauds, errors and protection enterprise's assets. Recommendations include strengthening audit standards, penalizing bad practices and ensuring auditor's independence.

The purpose of this study is to investigate the determinants of the capital structure of firms operating in a developing economy, Pakistan. The quantile regression method is applied on a sample of 183 non-financial companies listed on the Pakistan Stock Exchange during the period of 2008-2017. Specifically, the empirical analysis focuses on changes in the coefficients of the determinants according to the leverage ratio quantiles of the examined listed firms. The findings show that the capital structure of Pakistan listed firms differs between firms in different quantiles of leverage. These differences are significant with the sign of explanatory variables changes with the level of leverage. The research result found tangibility, profitability and age to be positively related to leverage among listed firms in Pakistan. However, size, liquidity and non-debt tax shield (NDTS) are negatively related to leverage. A firm's growth and risk are found to be insignificant predictors of capital structure in Pakistan listed firms. Moreover, the study also found a significant impact of industry characteristic on leverage. The findings of this study indicate that an individual firm's finance policy needs to be responsive to the firm's characteristics and should match with the different borrowing requirements of listed firms.

Tax is the main revenue of Government, so fighting tax evasion and sustainable growth have been the primary macroeconomic goals being pursued by every developing country, Vietnam included. The existence and development of the shadow economic sector are synonymous with the national budget losing out. In Vietnam, foreign direct investment projects do not promote economic growth and is also a sector that gives way to tax evasion.The purpose of this study is to investigate the impact of foreign direct investment, the quality of the informal institution on the size of the shadow economy in Vietnam, during the period 1991-2015. By applying the Autoregressive Distributed Lag approach and Toda and Yamamoto test, we found evidence to conclude that the quality of the informal institution harms the size of the shadow economy. The results of the causality test show that there is a unidirectional causality running from the shadow economy and the quality of the informal institution to foreign direct investment attraction in Vietnam. Political solutions need to be implemented carefully to counter the harmful effects of the shadow economy. Policymakers should adopt several economic policies to improve the 'human capital' and drive the shadow economy into the formal economy.

This study investigates the nexus between the level of Corporate Social Responsibility Disclosures (CSRD) and Risk of Bankruptcy of companies that are listing in the Stock Exchanges of Vietnam. To investigate that relationship, this study collected secondary data from annual audited financial statements from 2014 to 2018 of listing companies. Applying two different regression models with two dependent variables and six independent and control variables, we find out that Vietnamese firms with higher level of CSRD performance can rapidly reduce their risk of bankruptcy. This phenomenon happens in the current year and in the coming years in all firms in the research sample. This result may be that the disclosures of social responsibility information can bring financial and non-financial benefits to the firms. In addition, the results also point out that there is a difference in risk of bankruptcy between the group of companies, which discloses and the one which does not disclose corporate social responsibility on their annual reports. This might be from the effects of various factors such as business size, financial leverage, market to book ratio, return on assets, cash flow from operations, etc. Our research results can be applied to other firms in Vietnam and in other similar jurisdictions.

The study investigates the relationship between the inflation rate and economic growth to find out the optimal inflation threshold for economic growth. Therefore, this study applied an ordinary least square model (OLS) and the ordinal regression model, and collected the time-series data from 1996 to 2017 to test the relationship between inflation and economic growth in the short-term and long-term. The sample fits the model and is statistically significant. The study showed that 96.6% of correlation between inflation rate and economic growth are close and 4.5% of optimal inflation threshold is appropriate for economic growth. It finds that the optimal inflation threshold is base to perform economic growth, besides the inflation rate is positively related to economic growth. The results support the monetary policy appropriately. This study identifies issues for Government to consider: have a comprehensive solution among macroeconomic policies, monetary policy, fiscal policy and other policies to control and maintain the inflation and stimulate growth; have appropriate policies to regulate inflation to stimulate economic growth over the long term; set a priority goal for sustainable economic growth; not pursue economic growth by maintaining the inflation rate in the long term, but take appropriate measures to stabilize the inflation at the optimal inflation threshold.

This study analyzes the strategy of determining economic development planning on SME improvement in Indonesia. A qualitative approach was conducted through interview questionnaires with twenty respondents, including sixteen Regional Apparatus Work Unit, Fisheries and Marine Office lecturers, subdistrict heads, and development observers. The method used is Analytical Hierarchy Process (AHP). AHP prioritizes criteria and sub-criteria to increase economic growth, reduce poverty, and increase community participation, while indicating the sub-criteria to optimize resource potential, strengthen micro-economy, develop tourism potential, utilize fishery potential and cultivation, and improve institutional performance. The AHP weighting results based on competitiveness and regional development of Bantaeng Regency is the priority in policy-making for a solution. The research shows that the government strategy, based on the perception of the stakeholders, is: optimizing resources strategy with priority to maximize the resource-carrying capacity that includes agriculture and farm, tourism development potential strategy, self-reliance of community groups and coaching and management. Strategies to strengthen micro economy include: industrial control, SMEs, community cooperatives and infrastructure improvements, strategies to improve institutional performance work capacity and work ethic, and strategies to utilize fisheries and cultivation potential technological development, provision of processed industries of fishery products, and improvement of the quality of the environment.

This paper examines the impacts of credit on income inequality in Vietnam. Though it is one of the most common measures of financial development, there is a dearth of research in this area. Unlike previous studies, the paper disaggregates the impact of each type of credit on income inequality, looking at the Gini coefficient. We employ the Generalized Method of Moment (GMM) to solve the endogenous problem. The primary data set contains a panel of 60 Provincial observations, from data collected from the General Statistics Office of Vietnam from 2002 to 2016. The empirical findings show that, while commercial credit increases income inequality, policy credit contributes to reducing income inequality in Vietnam. The results also confirm the important roles of education, institutional quality and foreign direct investment in fighting against income inequality in Vietnam. However, the paper does not provide adequate evidence to support the inverted U-shaped relationship between credit and income inequality. Based on the findings, we argue that the government should direct flows of credit to real economic activities rather than speculative investment; more bank credit should be allocated to rural areas and agriculture; and favorable credit programs should be designed to promote education, especially of those living in rural areas.

The study seeks to evaluate the impacts of three types of credit - formal, semi-formal, and informal credits - on the well-being of households in Vietnam's rural areas. Based on data from the Vietnam Household Living Standard Surveys in 2014 and 2016, the research uses the instrumental variable fixed-effect models to estimate the effects of three kinds of credit on household's per capita income and expenditure. There are some significant findings. First, in rural areas, formal credit is the most popular source with stable and cheap borrowing costs. Informal credit is a complement to formal credit to meet urgent needs. Funding agriculture activities is the most commonly cited purpose of borrowing, followed by purchasing assets. The highest misuse rate belongs to the group of loans for agriculture production. Second, the results show that credit helps smoothen consumption rather than generate income for rural households. Three types of credit have insignificant or negative effects on household's per capita income. Formal loans significantly improve total expenditure and spending on healthcare and education. Informal and semi-formal credits show a little influence on consumption. Informal loans have a significantly positive effect on healthcare expenditure. In contrast, having semi-formal loans tends to decrease spending on foods.

The study investigates the impact of factors on environmental accounting implementation in mining enterprises in Binh Dinh province, Vietnam. The survey was carried out in three phases: 1) a draft survey form; 2) in-depth interviews with experts; 3) design questionnaire. The survey respondents were people who had knowledge of environmental information in mining enterprises in Binh Dinh province, including: accountant, chief accountant, financial deputy director or director. The questionnaire was is sent directly or through Google Form tool. The author received 162 responses votes from the survey respondent, out of which 13 were unusable due to missing data. Thus, 149 valid responses votes were used. This study employs Cronbach's alpha analysis, exploratory factor analysis and multivariate regression analysis. The results showed the influence of five different factors on environmental accounting implementation in mining enterprises in Binh Dinh province: stakeholders pressure, corporate characteristics, coercive pressure of government agencies, environmental awareness of senior managers and accountant qualifications of environmental accounting. While the pressure of stakeholders has a negligible influence, the remaining four factors (coercive pressure of government agencies, environmental awareness of senior executives, business characteristics, accountant qualifications of environmental accounting) have significant effect on environmental accounting implementation in mining enterprises in Binh Dinh province, Vietnam.

The purpose of this study is to analyze how the problems caused by overtourism affect the quality of life of Jeju residents and their perceptions of the overtourism phenomenon by exploring related factors for future policy implications. In the research model, each independent factor related to tourists affects the quality of life of residents, and the mediation variable (QoL) ultimately agrees with overtourism. This study uses Partial Least Squares-Structural Equation Modeling (PLS-SEM), which is less influenced by the sample size. The research is based on 360 questionnaires. The test results showed that cultural factors affected the QoL statistically at 1% significance level, and economic factors were significant at 5%. The quality of life variable affects the agreement of overtourism (p-value 1% significance level). An indirect effect analysis on whether each independent factor affects the overtourism factor through the parameter of the QoL of the residents showed that the cultural factor at 5% level statistically affected it, and economic factors were significant at 10%. In conclusion, we recommend implementing both economic and cultural factors to reduce the negative perception of overtourism for the policy planning. Further research in multiple aspects should be continued to overcome the vulnerability of the Island destination tourism.

This study investigates the importance of professional models in the promotion of the corporate brand attitude through differentiated marketing strategies in the saturated low-cost carrier (LCC) aviation market. The attributes of professional models affect brand attitude and brand loyalty. The study seeks to identify the factors affecting brand loyalty through the contribution of professional models. The empirical analysis is based on a questionnaire survey conducted online and off line over a seven-month period, from January to July 2019. Some 292 valid samples could be used. The study conducted a positive factor analysis using AMOS 18.0 and a reliability analysis using SPSS 18.0. Reliability of measurement tools was performed using Cronbach's alpha. The attributes of professional models relating to airline advertising include: reliability, attractiveness and expertise. These attributes are shown to have a significant impact on brand attitude and brand loyalty toward LCCs. The findings reveal that reliability and expertise have a significant influence on the brand attitude and the formation of brand loyalty. Professional models' attractiveness has no significant impact on brand attitudes and brand loyalty. The mediating effect of professional models' attributes on the relationship between brand attitude and brand loyalty also show a significant positive effect.

The study examined how the personality traits, manifested during serious leisure experience, i.e., experiences that involve the acquisition of special knowledge or techniques and the participation required to achieve the expertise necessary to express them. This study also investigated how such subjective well-being affected behavioral intention, specifically, the intention to use the same leisure facilities again and to spread this information to acquaintances by positive word of mouth. A survey was administered to 727 research subjects selected from pre-registered panels enrolled by an online research organization. The main constructs examined in this study were measured on 5-point Likert scales using multiple items. A structural equation model was employed to verify the proposed conceptual model and the relationships among variables. The results revealed that, of the personality traits, participants high in extraversion, openness to experience, and agreeableness felt high levels of life satisfaction and positive affect, i.e. a sense of subjective well-being. Second, users who felt a high level of subjective well-being, specifically, high life satisfaction and positive affect, also indicated a high level of behavioral intention. Finally, the academic and practical implications and limitations of the study, as well as future research plans involving the personality traits underlying serious leisure experiences are discussed.

The paper examines the reaction of the Z-Vietnam generation to online TV advertising (TVC), which elements of online TV advertising has a positive influence, which factors do not affect or negatively affect their consumption decisions for the advertised goods. Data for the study was collected from 300 Vietnam's Generation Z in Ho Chi Minh City through live interviews or questionnaires through Google Docs Forms, with over 30 questions. The six basic factors that influence the reactions of Generation Z consumers are information, entertainment, irritation, credibility, interaction, and advertising value. The research results show that, due to the influence of social media and generational characteristics, most consumers of the Generation Z in Vietnam have a favorable attitude towards online TV advertising, and they appreciate this form of advertising. Information element, irritation, credibility and entertainment have a strong and positive impact on TVC. The other two factors are advertising value and interaction, which does not significantly affect the reaction of this generation. This study needs to be checked and reviewed by subsequent studies on a larger scale and in a wider scope because the study only conducted random sampling on a small scale, did not meet the requirements for representation and generality.

The study aims to identify and measure factors affecting the perception of the selling price of luxury apartments in Hanoi. We conducted a questionnaire consisting of 29 observation variables with a 5-point Likert scale. Independent variables were measured from 1 "without effect" to 5 "strongly". Based on the desk review and results of interviews, a total of 500 questionnaires were sent to research participants for collection; 458 of them met standard and were subject to be analyzed. This study employs Cronbach's Alpha test, and regression model. The results of Exploratory Factor Analysis (EFA) and Multiple Regression Analysis (MRA) identify five main determinants influencing the perception of the selling price of luxury apartments in Hanoi, including Physical characteristics of a luxury apartment (PC); Location and position of an apartment (LP); Surrounding Area (SA); Quality of service provided by managers; (QS) and Demographics factor (DF). Based on the findings, some recommendations have been proposed to help the firm leaders design appropriate personnel policies for creating better price satisfaction for customers in the future. On this basis, the authors propose a number of recommendations to improve the quality of luxury apartments, thereby contributing to the development of the market for luxury apartments in Hanoi.

This research examines four specific objectives: (1) identifying factors that affect Vietnamese consumer attitudes towards smartphone advertising, (2) measuring the level of impact of the factors, (3) testing the difference of attitudes among groups of consumers with different characteristics in terms of gender, age, income, and academic level, and (4) proposing some managerial implications to have better Vietnamese consumer attitudes towards smartphone advertising. The study uses the online survey form via e-mail and Facebook in a convenience sampling method; the subjects surveyed are between the ages of 18 and 35, and all are in urban areas in Vietnam, and are using smartphones and accessing the internet and other phone applications. A sample of 490 respondents were valid and used for processing. The study employs a combination of qualitative and quantitative methods to analyze exploratory factors and linear multiple regression. The results reveal that there are five main factors affecting Vietnamese consumer attitudes towards smartphone advertising positively, arranged by reduced importance: entertainment, informativeness, credibility, non-irritation, permission and control. From that, the study offers some managerial suggestions for smartphone advertisers to improve their strategies and tatics to enhance their customer service, so that the smartphone advertising can attract people and help Vietnamese consumer in their buying behavior.

This study seeks to empirically analyze the effects of core self-evaluation and adaptive selling behavior on sales performance for female salespersons engaged in door-to-door sales through the face-to-face channel in the wellness industry. This study seeks to examine the importance of adaptive selling, through, salespeople derive appropriate strategies in response to market changes. For female salespeople who use face-to-face channels, this study empirically investigated the relationship between core self-evaluation and adaptive selling, and effects on sales performance. A 31-item survey was constructed, based on prior research. We selected six door-to-door sales companies in South Korea and conducted one-to-one interviews with female salespeople in the Seoul metropolitan area and analyzed 208 pieces of significant data. Results demonstrated that among the core self-evaluation factors for female salespeople, self-esteem, self-efficacy, and neuroticism had an effect on adaptive selling factors, while locus of control did not. These factors were found to affect sales performance through the mediating role of adaptive selling. Improvements in the adaptive selling capabilities of female salespeople in charge of face-to-face channels positively affected sales performance. Management efforts are required to enhance self-esteem, self-efficacy, or neuroticism. These results suggest that companies should support enhancing individual adaptive selling capabilities of their salespeople.

This study investigates the impact levels of determinants on the Balanced Scorecard application in evaluating the performance of tourism firms in Hanoi. The tourism industry not only promotes economic development, but also contributes to expanding cultural exchanges and improving people's knowledge. However, Vietnam's tourism industry is under fierce competitive pressure, with the participation of foreign enterprises, with large amount of capital, high professionalism and wide network. The rivalry is happening aggressively on many aspects such as products and human resources. Therefore, tourism firms are in urgent needs of having effective methods to evaluate its performance in order to improve business and development efficiency. This study uses data of tourism firms in Hanoi during 2018-2019. The data used for analysis and regression consists of 135 observations. We use Cronbach's Alpha, EFA and regression model to learn the effect of different variables on the Balanced scorecard application in evaluating the performance. The results show that two determinants, including internal factors of tourism firms (IF) and external factors of tourism firms (EF) had positive relationships with the Balanced scorecard application in evaluating the performance. Based on the findings, recommendations are given for improving the Balanced scorecard application in evaluating the performance of tourism firms in Hanoi.

This paper examines empirically the net impact of residual state ownership on privatized firm efficiency in the transitional context of Vietnam. Vietnamese privatization has its own characteristics. Instead of mass and full privatization, Vietnam has chosen a partial and gradual path. Thus, it is important to assess the net impact of residual state ownership on privatized firms during the post-privatization period. This study employs stochastic frontier analysis to investigate the association between residual state ownership and the efficiency of privatized firms, using a sample of all privatized firms that are listed on the Vietnamese stock exchanges over the period from 2007 to 2017. Also, two-stage least squares regression is incorporated into the model to deal with potential endogeneity issues. Our study provides evidence that state ownership should not be considered as a pure source of agency problems. Indeed, the net impact of residual state ownership on privatized firm efficiency is non-monotonic, and the relationship between residual state ownership and privatized firm efficiency is under an inverted U-shape. A moderate level (less than 50%) of residual state ownership might be beneficial to privatized firm efficiency whereas too much state ownership is detrimental to the efficiency of privatized firms.

The purpose of this study is to investigate and reconfirm the research instruments and variables that have been developed by prior study and built new concepts from empirical research results. Besides analyzing the essential role of fundamental, rational, and psychology aspects to increase employee's intention to stay in a company, which is useful for the development of human resource development strategies for millennial workers in the future. A total of 438 non-student male respondents aged 23-36 years, with unmarried status and not working in the SOE sector or as a civil servant, were surveyed with questionnaires. The study was conducted in Makassar, Indonesia. Data collection uses a survey with the second-order model approach and regression with control variables. The findings of this study suggest the existence of an inter-relationship between fundamental, rational and psychological aspects. They are inseparable and have a positive and significant influence. Broadly speaking, the link between fundamental, psychology and rational aspects states that the decision for millennial male workers to stay in the company will depend on whether the company has a good image and reputation, the level of attention the organization pays to career development, is competent, and applies regulations and rules with flexibility.

This study examines and analyzes the effect of innovation on the price to book value mediated by managerial ownership in Indonesian companies. In order to achieve the goals and objectives, the company increases its value by increasing shareholders. Improving the welfare of shareholders can be done through investment and financial policies, and is reflected in share prices in the capital market. The higher the share price, the better the owner's welfare, and the company's value will also increase. The population of this study is the manufacturing companies - as many as 162 - listed on the Indonesia Stock Exchange in 2012-2017. By using a purposive sampling method, 25 companies met the criteria for the sample. The data comes from the companies' annual report taken from the Indonesia Stock Exchange website. The data is further analyzed using partial least square (PLS). The results of the study showed that innovation has a significant effect on price to book value. The companies with high marketing innovation produce high company performance as well. The companies get a commensurate reward from marketing innovation activities to carry out continuous marketing innovations. In addition, managerial ownership does not mediate the relationship between innovation and price to book value.

This study aims to provide empirical evidence on the causal relationship between bribery and firm innovation. To this end, we use a micro-dataset of small and medium firms in Vietnam surveyed in 2015. Given the binary nature of the dependent variable, a simple probit regression model is employed. However, as bribery variable is potentially endogenous, a simple probit regression may give biased estimates. We deal with the potential endogeneity by making use of the bivariate probit model. A property of the bivariate probit model is that it can produce efficient estimates of a typical probit model with endogenous binary explanatory variable. A Hausman-like likelihood ratio test is implemented following the estimation to test the existence of endogeneity. We find that bribery significantly undermines firm innovation. Also, firms run by household appear less innovative. The probability of innovation diminishes significantly if firm owners or managers have previous experience in firm products. As expected, larger firms seem to be more innovative. Exporters tend to be more innovative compared to non-exporters. Our findings provide support to the hypothesis that bribery is detrimental to firm innovation and, thus, innovation may be a mediating channel, through which, bribery impedes firm long-term performance.

The purpose of this study is to explore the relationship between employee's psychological capital, organizational commitment and job performance in Vietnam. In this study, psychological capital and overall organizational commitment are considered as two second-order constructs. Psychological capital includes four different components: self-efficacy, optimism, hope and resiliency. Organizational commitment comprises three different components: affective commitment, continuance commitment and normative commitment. The study uses the combination of quantitative research method and qualitative research method. Qualitative research method (based on the experts' opinions) is used to design the official questionnaire, while relationship between concepts is estimated by quantitative research method, which is inclusive of the methods of descriptive statistics, Cronbach's Alpha, EFA, CFA and CB-SEM. The survey is conducted in two ways: face-to-face and via email. Data are collected from 848 employees across provinces and cities in Vietnam. The findings show that psychological capital and job performance have a positive relationship, organizational commitment has positive influence on job performance, and psychological capital is also related to organizational commitment. All relationship between psychological capital, organizational commitment and job performance of employee are statistically significant. In addition, organizational commitment also plays the mediating role in the positive relationship between psychological capital and employee's performance.

This study examines how economic preparation for later life directly influences life after retirement. As people's life cycle is gradually getting longer, preparation for the later time with less economic activity after retirement is becoming more important. Thus, this study analyzes the factors influencing life after retirement. Data comes from the Korean Retirement and Income Study (KReIS) surveyed carried out by the National Pension Research Institute in 2015. The analysis includes Cronbach's alpha, Pearson Product Moment Correlation Coefficient and Sobel Test. This study confirms that voluntary retirement has a positive influence on life satisfaction. Results are in line with previous research about the relationship between voluntary retirement and retired life. When a person retires voluntarily, financial preparation can be made in advance for retirement. In case of involuntary retirement, people may experience a sense of loss in personal standing and financial difficulties due to the unexpected situation. Especially, early retirement from the main workplace leads to unstable later life. The study's policy recommendation, in particular, calls on government and businesses to agree on social responsibility for helping employees to retire in the predictable retirement time and, thus, enabling the retiree to decide all aspects of the path after retirement.

This paper examines the factors that drive temporal income diversification in rural areas of the Mekong River Delta in Vietnam, based on a framework that conceptualized diversification as a function of a household's capacity to diversify and incentives (both push and pull factors) to diversify. Drawing from five rounds of the Vietnam Living Standard Measurement Surveys covering a 13-year span (1993-2006), two panel datasets made from five cross-sectional samples are used for the analyses. The data are drawn from the Vietnam General Statistics Office. Both tobit model and Ordinary Least Squares model with random and fixed effects are applied. The main points emerging from the analysis is that income diversification is strongly influenced by household labor capacity. The relationship between household labor capacity and increasing insertion in non-farming wage activities is not driven by unobserved time-invariant factors such as household ability and motivation, but is instead driven by the higher labor capacity of households. In terms of the other household capacity variables, the effect of farm size is much larger in terms of retaining households in traditional occupations as compared to pushing them towards non-farm wage employment. Other variables such as household access to financial capital do not play an important role.

The paper explores the return migration choice of graduates, which takes place during the transition from higher education to the labor market. Graduate students, after a short time in temporary migration to cities for studying, have to make a decision of returning back home or staying in migration in urban areas for working. Drawing on the mechanism identified in the literature on internal migration, this empirical research tests the effects of two factors: place attractiveness and social supports factors on graduates' decision to return migration to hometown. A binary logit regression analysis was conducted with data from 502 surveyed graduates in Hanoi, Vietnam. The analysis of the motives reported by graduates indicates that return migration decisions cannot be reduced to a single dimension. Perceived attractiveness of a region such as quality of living environment, job opportunities, and social context of individuals positively impact on student' decision to return migration after graduation. The research results imply that, in a collectivistic country like Vietnam, students' choice of future career is strongly influenced by their social context, and choosing a place to work is not simply a matter of earning a higher salary or enjoying better working conditions, but is also related to family issues.