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http://dx.doi.org/10.13106/jafeb.2020.vol7.no12.583

Applying Stochastic Fractal Search Algorithm (SFSA) in Ranking the Determinants of Undergraduates Employability: Evidence from Vietnam  

DINH, Hien Thi Thu (Faculty of Accounting and Auditing, Ho Chi Minh City Open University)
CHU, Ngoc Nguyen Mong (School of Economic Mathematics and Statistics, University of Economics Ho Chi Minh City)
TRAN, Van Hong (Faculty of Accounting and Auditing, University of Finance - Marketing)
NGUYEN, Du Van (School of Government, University of Economics Ho Chi Minh City)
NGUYEN, Quyen Le Hoang Thuy To (Office of Cooperation and Research Management, Ho Chi Minh City Open University)
Publication Information
The Journal of Asian Finance, Economics and Business / v.7, no.12, 2020 , pp. 583-591 More about this Journal
Abstract
Employability has recently become the first target of the national higher education. Its model has been updated to catch the new trend of Industry 4.0. This paper aims at analyzing and ranking the determinants of undergraduate employability, focusing on business and economics majors in Ho Chi Minh City, Vietnam. In-depth interviews with content analysis have been primarily conducted to reach an agreement on a key group of factors: human capital, social capital, and identity. The Stochastic Fractal Search Algorithm (SFSA) is then applied to rank the sub-factors. Human capital is composed of three major elements: attitude, skill, and knowledge. Social capital is approached at both structural and cognitive aspects with three typical types: bonding, bridging, and linking. The analysis has confirmed the change of priority in employability determinants. Human capital is still a driver but the priority of attitude has been confirmed in the contemporary context. Then, social capital with the important order of linking, bridging, and bonding is emphasized. Skill, knowledge, and identity share the least weight in the model. It is noted that identity is newly proposed in the model but a certain role has been found. The findings are crucial for education strategies to enhance university graduate employability.
Keywords
Employability; Human Resource; Social Capital; Stochastic Fractal Search (SFS); Vietnam;
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Times Cited By KSCI : 6  (Citation Analysis)
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