• Journal of Arbitration Studies
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• v.29 no.4
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• pp.77-100
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• 2019

Third-party funding in international and domestic disputes is a fast-growing trend and it is increasingly used by large, solvent companies that simply wish to share risk in their finance. On January 10, 2017, the Civil Law Amendment Bill was passed in Singapore and on June 2017 an "Arbitration and Mediation Legislation (Third Party Funding) Bill" in Hong-Kong had a third-party funding to finance the international arbitration and other dispute resolutions expressly approved. This arbitral tribunal's expanding discretion over critical interim measure of security cost was in issue. In Essar v. Norscot (2016), the arbitrator found that the additional third-party funding costs were recoverable as "other costs of the parties." In here, the decision showed the issue of a tribunal's power over cost measures could spread out to be reviewed and broadened through the legislative process. A recent investor-state arbitration case of ICSID, RSM Production Corporation v. Saint Lucia, covered the express awarding of security for costs where a claimant was funded by a third-party funder. It seems inevitable that the volume of third-party funding industry will grow more as time goes on. The next step would be to formulate guidelines on how to determine criteria against which an application for security for costs is measured.

• International Journal of High-Rise Buildings
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• v.6 no.1
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• pp.49-72
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• 2017

The Guangzhou International Finance Centre (IFC) is a landmark building that symbolizes the emerging international strength of Guangzhou, China's third largest city. It is also one of the dual iconic towers along the main axis of Guangzhou Zhujiang New Town. Arup adopted a total engineering approach in embracing sustainability and aiming at high efficiency solutions based on performance-based design principles covering structures, building services, fire engineering, vertical transportation, and façade performance to constitute an efficient and cost-effective overall building design. Through dynamic integration of architectural and engineering principles, Guangzhou IFC represents a pioneering supertall building in China. It adopts a diagrid exoskeleton structural form that is clearly expressed through the building's façade and gives the building its distinctive character. The aerodynamic shape of the building not only presents the aesthetic quality of elegant simplicity, but also reduces the effects of wind, thereby reducing the size and weight of the structure. State-of-the-art advanced engineering methods, such as optimization techniques and nonlinear finite element modelling, were applied in parallel with large-scale experimental programs to achieve an efficient and high-performance design taking into account the constructability and cost-effectiveness for a project of this scale.

• Journal of The Korean Society of Agricultural Engineers
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• v.49 no.1
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• pp.35-42
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• 2007

This paper develops a Sustainable Regional Economic Growth Model (SREG) which estimates the relation of labor population change and employment increase in each occupation and maximum limits and minimum requirements of employment increase by labor population change in a specified region using multiplier theory. To develop the proposed model, sustainable regional economic growth is defined as a steady increase of labor population over a long term period and the limit of employment increase is defined as the estimated labor population change in the region with no need for commutation from the surrounded areas. Developed model was applied to 67 county in Pennsylvania State and the results revealed that the investment in infrastructure occupations, such as transportation, warehousing, utilities, information, communication, and other public utilities, maximizes the effects for increasing employment, whereas finance, insurance, and real estate occupations have minimum effects for increasing employment. Calculated minimum requirements of occupations show that infra-structure occupations is a critical factor for labor population change and maximum limits of occupations show that agriculture and finance occupations are difficult to increase independently.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.107-117
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• 2020

The research objective of the paper is to clarify the factors influencing system risks of listed companies in Vietnam, with a focus on clarifying the relationship and quantifying the impacts of ownership structure on systemic risk of listed companies. The data used in this study included financial statements and stock price data of listed companies on the Ho Chi Minh City Stock Exchange and Hanoi Stock Exchange of Vietnam stock market in the period from 2010 to 2017. The paper used the method of estimation in establising the regression models to choose among three models: Random Effect Model, Fixed Effect Model or Pooled OLS for regression using Stata statistical software. The research results showed that state ownership and ownership by foreign investors were positively related to systemic risk, while ownership by domestic investors had a reverse relationship with systemic risk of listed companies in Vietnam. In addition, as a control variable, both company size and profitability had an effect on the systemic risk of listed companies in the research sample. Based on the research results, the authors interpreted some of the implications in order to minimize systemic risks in the operation of listed companies in Vietnam.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.1033-1039
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• 2020

Vietnam is conducting an export-led growth model and labour-intensive industries contributing majorly to the total export value. In the context of Industry 4.0, the labour-based industries are significantly affected; hence, enhancing productivity is the key measure to maintain these industries. The garment industry contributes significantly to the total export value of Vietnam. Based on meta-frontier framework, the approach of data envelopment analysis is used to measure technical efficiency of Vietnamese garment firms and the global Malmquist TFP index is utilised to identify productivity change and its components including efficiency, technology and technical gaps between different groups of firms. The data of Vietnamese garment firms from 2013 to 2018 collected from the Vietnam General Statistic Office is used in this study. The results show that: (i) The total factor productivity of Vietnamese garment firms growth, technical progress is the main contributor; (ii) The private garment sector is the leading group; (iii) There is a large technological gap among Vietnamese garment sectors. The private and FDI garment firms have experienced a growth in all components of total factor productivity change. Meanwhile, technological progress change is the main reason to constrain the productivity growth of state-owned garment firms.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.2
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• pp.183-187
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• 2019

The paper aims to provide some recommendations to improve the operational capacity of the Tra Vinh Provincial Center of Public Administrative Services and to improve the effectiveness and efficiency of management in the State administrative agencies. The study on people's satisfaction towards public services of Tra Vinh Provincial Center of Public Administrative Services was conducted by collecting primary data of 300 people who used public services provided by this Center from September 2018 to November 2018. By using the multivariate regression method, the author found that there were a number of factors affecting people's satisfaction towards public services at the Center, including procedures, service fee, and attitudes of the staff, empathy, staff capacity, and trust. These factors had an impact on people's satisfaction towards public administrative services performed by staff officers from Tra Vinh Provincial Center of Public Administrative Services. Since then, the study has proposed policy implications to improve people's satisfaction on service quality at the Center such as: Develop a flexible charge mechanism of public services; Enhance the sense of responsibility of staff officers; Pay attention to improving administrative procedures; Establish trustworthiness to people; Pay attention to professional improvement; and Build up a friendly and respectful team of staff.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.10
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• pp.305-315
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• 2021

This study aims to investigate the relationship between the difference in gender of top executives and corporate investment. In addition, this study also extends to how the sensitivity of investment to cash flow varies with the gender of leaders. Finally, the effect of the gender of leaders on firm investment is also tested across firm types (state firms vs. private firms and high-growth firms vs. low-growth firms). Based on the dataset of Vietnamese listed firms over 2007-2017, the fixed-effect model is used to test the hypotheses. The results show that women as chairs of the board tend to lower corporate investment, whereas the gender of CEOs (Chief Executive Officers) does not influence the investment level. Moreover, top female executives are associated with a decrease in the sensitivity of investment to cash flow. These regression results also show that top female executives only have an impact on the rate of investment in private and low-growth firms. The findings of this study are useful for the board of directors in selecting a chairperson in line with the firm's strategies. Furthermore, the findings of this study are also meaningful for policymakers who should monitor the separate role of the CEO and chair of the board in a company.

• International Journal of Naval Architecture and Ocean Engineering
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• v.12 no.1
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• pp.832-842
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• 2020

The coordination control of multiple Underactuated Underwater Vehicles (UUVs) moving in three dimensional space is investigated in this paper. The coordinated path following control task is decomposed into two sub tasks, that is, path following control and coordination control. In the spatial curve path following control task, path following error dynamics is build in the Serret-Frenet coordinate frame. The virtual reference object can be chosen freely on the desired spatial path. Considering the speed of the UUV, the line-of-sight navigation is introduced to help the path following errors quickly converge to zero. In the coordination control sub task, the communication topology of multiple UUVs is described by the graph theory. The speed of each UUV is adjusted to achieve the coordination. The path following system and the coordination control system are viewed as the feedback connection system. Input-to-state stable of the coordinated path following system can be proved by small gain theorem. The simulation experiments can further demonstrate the good performance of the control method.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.295-302
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• 2021

In the context of economic growth, the banking system has greatly contributed to a substantial rise in living conditions, connecting savings and investment, and economic growth. Since economic reform in 1986, Vietnam's banking system has increasingly expanded in quality and quantity of banks including state-owned, private-owned, and foreign banks. The aim of this study is to evaluate the main factors affecting employee's performance in the banking system in the case of an emerging economy of Vietnam. Using the pilot study by investigating three experts in a few banks in order to correct the questionnaires, and a mega sample data of 170 observations conducted from bank's staffs, and managers in Hanoi capital of Vietnam, empirical results demonstrate that the independent variables included in the model can explain 67% of the change of the dependent variable of employee's performance, and the rest (31%) can be explained by other reasons. Further, motivation (MO), and working ability (WA) have a positive and insignificant impact on employee's performance, reflecting that motivation, and working ability have insignificantly affected employee's performance. In contrast, four factors, namely, welfare, working environment, cooperation, and education have a positive and significant impact on employee's performance in the case of Hanoi, Vietnam.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.193-207
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• 2022

The purpose of this study was to find out what factors influence the preparation of financial statements in accordance with the International Financial Reporting Standards (IFRS) for Vietnamese businesses. The survey included 150 enterprises, including parent companies of state-owned economic groups, parent companies that are listed companies, large-scale public companies that are unlisted parent companies, and enterprises with 100 percent foreign direct investment, that will apply IFRS voluntarily from the year 2022 and switch to the mandatory application from the year 2025 (Ministry of Finance, 2016). The survey was carried out with the help of the Google Form tool, and the data was processed using EFA and regression analysis methods on the SPSS 22.0 software. The findings show, for enterprises in Vietnam, that six factors influence the preparation of financial statements in accordance with IFRS, ranked in order of influence from high to low: (i) Related party requirements; (ii) Professional qualifications of accountants; (iii) Roles of enterprise managers; (iv) Forms of capital ownership in enterprises, (v) Institutional regulations, and (vi) Operational characteristics of the enterprise. In addition, the study also shows that, for enterprises in Vietnam, the requirements of related parties are an important factor to promote the preparation of the financial statements of enterprises according to IFRS.