• The Journal of Asian Finance, Economics and Business
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• 제9권9호
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• pp.93-104
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• 2022

This study aims to investigate the factors that contribute to the sustainable development of 334 Vietnamese construction and real estate companies listed on the Stock Exchange of Vietnam over a 5-year period from 2016 to 2020. By using regression analysis with the support of STATA software through examining the financial statements, which involves looking into crucial ratios including capital structure, profitability, firm size, accounts receivable management, and tangible assets investment, this study sheds light on whether these accounting indicators could help predict the construction and real estate companies growing potential in the future. Nevertheless, these ratios slightly contribute to the explanation of the change in revenue growth ratio, with a result of 1.6%, indicating that the value relevance of accounting information provides a modest and insignificant effect on investment decisions. This is understandable because the Vietnamese construction and real estate market still has many shortcomings in handling unexpected events, as well as the industry's peculiarities related to major capital sources from bank loans. Based on this study, governmental authorities and business executives should plan appropriate risk management policies and measures to contribute to the sustainable development of construction and real estate companies.

• 대한토목학회논문집
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• 제33권1호
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• pp.355-362
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• 2013

글로벌 경제의 불확실성 확대와 저성장 지속에 따른 해외건설시장의 성장 정체에도 불구하고 국내기업은 높은 기술 및 가격경쟁력을 바탕으로 견조한 시장점유율을 유지하고 있다. 계속적으로 해외건설진출을 하기 위해서 우리건설기업들은 해외건설시장 동향을 주의 깊게 살피고 높은 경쟁역량을 확보해야 할 것이다. 따라서 본 연구에서는 경제 성장과 더불어 정부의 인프라 시설 확충 및 개발 부문의 투자가 증가하고 있는 베트남 토목시장의 진출을 연구의 목적으로 한다. 베트남 토목시장 진출을 위해 사업유형별 필요경쟁역량을 IPA기법으로 분석하였으며 분석결과 특화된 기술 및 노하우와 발주정보 수집능력과 설계전 단계의 기획 및 타당성 분석 역량이 필요한 경쟁역량으로 나타났다. 본 연구의 결과는 우리 건설기업들이 향후 베트남 토목시장 진출 시 필요한 기초자료로 활용되기를 기대한다.

• The Journal of Asian Finance, Economics and Business
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• 제9권9호
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• pp.49-59
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• 2022

Based on assessing the impact of factors on the business efficiency of construction enterprises, the research team proposes policy implications to improve the business performance of listed construction enterprises in Vietnam in the coming time. The study used secondary data collected from the audited financial statements of 25 enterprises listed on Vietnam's stock market in the period 2015-2021 to estimate the factors affecting the business performance of construction enterprises. After collecting, the data will be encrypted and checked. The article uses a quantitative research method by using a linear regression model on Eviews 10 to analyze the data and analyze the impact of factors on the business performance of construction enterprises listed on Vietnam's stock market. The research result shows that firm size and growth rate positively affect business performance while capital structure, receivable management, fixed asset investment, and economic growth have a positive impact on the business performance of construction companies listed on the Vietnamese stock market. Based on this result, the paper also makes recommendations to the Vietnamese construction companies to enhance their business performance.

• The Journal of Asian Finance, Economics and Business
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• 제7권8호
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• pp.269-280
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• 2020

The study investigates Environmental Accounting Information (EAI) as well as factors affecting the environmental accounting implementation by the construction firms listed on the Ho Chi Minh Stock Exchange (HOSE), Vietnam. After eliminating seven enterprises that lacked data, the authors selected a sample of 112 observations from 28 construction businesses listed on the Ho Chi Minh Stock Exchange in the period 2015-2018. This study uses research data extracted from the companies' annual reports. Then, the data are analyzed by Stata 13 software, including descriptive statistics, correlation coefficient analysis, regression analysis of table data using estimation methods (Pooled OLS, REM, FEM), and testing of model defects (heteroskedasticity test, multicollinearity test, autocorrelation test). The results show that construction companies listed on the Ho Chi Minh Stock Exchange have out factors affecting the environmental accounting implementation by these enterprises, including independent audit firm and listed time. While the independent auditor firm has a positive and significant impact, the listed time has a negative influence. In addition, our study has confirmed the role of institutional factors affecting the disclosure level of EAI on the implementation of environmental accounting by construction enterprises listed on the Ho Chi Minh Stock Exchange.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.195-204
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• 2020

The aim of this study is to estimate the impact of ownership structure on the performance of listed firms in transition economy. Buiding upon agency theory, hypotheses on such relationship are proposed. A detailed panel data of 502 non-financial companies listed on Ho Chi Minh Stock Exchange and Hanoi Stock Exchange over the period from 2013 to 2018, and the system generalized method of moment estimation are employed to test the proposed hypotheses. To ensure the reliability of data, this study excludes companies that violate information disclosure regulations or that are subject to special supervision by the State Securities Commission of Vietnam. Some firms with inadequate information, firms that lack the financial data required for creating variable or firms that have inconsistent construction are also re-screened. We only collect the data of enterprises that have ownership structure of two or more components. Estimation results reveal that state ownership has an U-shaped relationship with the performance of Vietnamese listed firms, while foreign ownership and the degree of ownership concentration have an inverted U-shaped relationship with listed firms' performance. The article provides governance implications that Vietnamese listed firms should decrease state ownership and foreign ownership to improve firm performance in order to boost investors' confidence.

• The Journal of Asian Finance, Economics and Business
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• 제9권7호
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• pp.101-108
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• 2022

The outbreak of Coronavirus disease 2019 (COVID-19) has caused serious impacts not only on human health but also on the economies around the world. Enterprises play an important role in the development of every country but it is also one of the most affected sectors during the pandemic. Drawing on panel data of 131 enterprises listed on the Vietnamese stock exchange from 2016Q1 to 2021Q3, this study aims to investigate the impact of the COVID-19 pandemic on firm performance. Enterprises are classified into seven industries including Agriculture, Material, Industry, Real estate and Construction, Energy, Consumer, and Service. The paper also analyzes the variation of the effects among companies, focusing on differences in revenue and capital structure. The results show that the COVID-19 pandemic negatively affects business performance. In addition, the empirical findings indicate that revenue and debt decreasing can cause deterioration of firm performance during the pandemic period. The decrease in revenue has a direct impact on firm profitability. The reduction of debt levels affects the corporate leverage leading to adverse effects on firm performance. The negative effect is more pronounced for companies in some specific sectors including industry, real estate, construction, consumption, and services.

• 한국주거학회논문집
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• 제24권2호
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• pp.1-10
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• 2013

Since the 21st century, major cities in Vietnam faced housing shortage and there was a lack in office spaces. As a result, construction companies from over seas provided mixed-use apartment as a new type of urban housing. A large number of mixed-use apartments are built in big cities such as Hanoi and Ho-chi-minh City. However, research on mixed-use housing in Vietnam is insufficient. Therefore, the main purpose of this study is to understand the characteristics of mixed-use apartments and have an effect on the development of urban housing in Vietnam. This study focuses on examining the planning characteristics of mixed-use apartments in Hanoi. The research will be based on 10 mixed-use apartments that are already built or expected to be built in a few years. Therefore, this study starts by looking into the history of the Vietnamese urban housing. The study focuses on the transformation of urban housing since 2000. Then, the study will mainly focus on examining the mixed-use apartments in different aspects, in order to analyze the planning characteristics.