• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.99-106
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• 2020

CEOs Overconfidence can bring potentially risky early decisions to businesses, along with large enterprise free cash flow that can bring different investment decisions with CEOs Overconfidence. Especially in the context of Vietnamese enterprises, CEOs are often influenced by behavioral psychology about overconfidence in investment decisions (due to individual cultural characteristics as well as operating financial markets also depend on many factors outside the market). Therefore, the authors study the impact of overconfidence and cash flow on investment in Vietnamese to find the internal relationship between these three factors in the financial environment in Vietnam. With 480 companies listed on the Vietnam Stock Exchange from 2014 to 2018 (companies have continuous reports), the regression analysis results with panel data (FEM, GLS models, correction of robust and GMM dealing with endogenous problems) have shown Overconfidence has a positive impact on investment. At the same time, the results also indicated that enterprises with overconfident CEOs and large cash flows tend to invest less than enterprises with low cash flow. The results of this study have shown the behavioral behavior of CEOs in Vietnamese enterprises that exist under both prospect theory and effective market theory.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.371-381
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• 2020

The objectives of this study are (1) to review previous studies in the context of brand management in consumer behaviors using costumer based brand equity (CBBE) and theory of planned behavior (TPB) as the basic foundation of the study; and (2) to develop a comprehensive research model by integrating relevant research constructs using meta-analysis. This study reviewed a total 173 studies from 58 published papers with 40 journals during 1991~2014 and developed a comprehensive framework with 16 research hypotheses. The results showed that (1) brand image, brand personality, brand association, and subjective norm are the important antecedents of brand attitudes; (2) brand awareness, brand trust, perceived quality, and perceived behavioral control are the important antecedents of brand loyalty; (3) brand attitude positively influences brand loyalty, which further influences brand equity; and (4) brand equity positively influences behavioral intention. This study fills in the research gap by integrating more research variables into CBBE model, particularly to include the influence of social context on consumer behavior through TPB. These results indicated that the integration between CBBE and TPB is meaningful and the comprehensive model can explain more variances than that of the individual model. Limitations, and recommendations for future research in this area are provided.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.1189-1200
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• 2021

This study examines the role of perceived enjoyment, self-efficacy, and subjective norms as determinants of behavioral intention to use the OVO application. This study's target population is the users of the OVO application who have used it as an electronic transaction. This study's population was the OVO application users as an electronic transaction tool in Jember Regency. Samples were randomly selected at the time of the survey with specific criteria. The survey location is determined at the Plaza because it is a shopping center that mostly has payments at OVO partner merchants. The model empirically tested using data gathered from 150 respondents of OVO users. The research model was tested by using the structural equation modeling (SEM) approach. The results showed that all constructs in the original TAM model were statistically significant. Subjective norm has a positive effect on perceived usefulness, and perceived enjoyment positively affects perceived ease of use of OVO applications. On the other hand, applications' self-efficacy does not affect the perceived ease of using OVO applications for electronic transactions. This condition shows that subjective norms are dominant external individual perspectives compared to self-efficacy, which are personal internal characteristics in determining the behavioral intention of using OVO applications in electronic transactions.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.441-453
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• 2021

This study seeks to examine the effect of attitude, subjective norm, and perceived behavioral control on the purchase behavior of students enrolled in a private higher education establishment in Tangerang, Indonesia. This is a quantitative study and it employs samples by simple random sampling of 410 university students. The returned and valid questionnaire results totaled 261 samples. Data processing used the SEM method with SmartPLS 3.0 software. The findings of this study reveal that attitude, subjective norm, and perceived behavioral control have a significant effect on purchase intention. Meanwhile, purchase intention has a significant effect on working students' purchase behavior, and halal awareness had a moderating effect of purchase intention on purchase behavior. Purchasing interest has a positive effect on purchasing behavior, and this study proves that halal awareness is able to moderate the effect of purchase intention on purchasing behavior toward halal food products. The higher the awareness of halal products, the greater the relationship between buying interest and buying behavior of halal food. The results of this study also show the importance of paying attention to halal awareness factor in the form of increasing the relationship between buying interest and buying behavior of halal food products.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.997-1007
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• 2021

The last decade has seen the emergence of the idea of "sharing economy" as people are more aware of environmental issues. Although clothing businesses applying the model of sharing consumption have emerged recently, less research effort has been invested in this topic, especially in investigating young consumers' intention. The purpose of this study is to investigate factors driving Generation Z consumers' behavioral intention toward online fashion rental. In this research, a conceptual framework is proposed based on the Theory of Planned Behavior and Technology Acceptance Model. To test the research model and hypotheses, a survey of 375 students and pupils was conducted in Vietnam. All the scales' reliability and validity were assessed through Cronbach's Alpha and confirmatory factor analysis. Structural equation modeling was used to assess the relationship among constructs. The study results showed that attitude toward behavior, subjective norm and perceived behavioral control were positive contributors to Gen Z's intention to use online fashion rental. Besides, the positive relationships between attitude and two other factors - perceived usefulness and perceived ease of use - were also highlighted. Moreover, the findings provided empirical evidence for supporting the positive impact of interpersonal influence, e-WOM, and influencer e-marketing on subjective norm.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.1295-1302
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• 2021

The study aims to investigate the antecedents affecting purchase intention in the category of green skincare products. Many studies have used the theory of planned behavior to investigate factors affecting intention to purchase products in general. This paper not only retests the influences of attitude, subjective norm, perceived behavioral control on the intention to buy eco-friendly skincare products but also suggests a new antecedent - environment knowledge of purchase intention. More importantly, this study is the first to propose the moderating effect of country of origin and product knowledge on the relationship between attitude and purchase intention. This study employs a sample of 350 female customers from 18 to 39 years old in Ho Chi Minh City. The research applies the Multiple Linear Regression to analyze the proposed hypotheses in the conceptual framework and results in significant outcomes. The result shows that attitude is the most influential factor then, subjective norm, perceived behavioral control and environmental knowledge. Most importantly, the findings of this study suggest that product knowledge is found to moderate the effect of attitude on purchase intention. The finding of moderating effect is a new contribution to the literature and future research can be carried out to validate this result.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.1053-1064
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• 2021

The objective of this research is to empirically study public servant knowledge sharing intention by implementing the Theory of Planned Behavior (TPB) of the Sustainable Development Goals (SDGs). The researcher proposes an extended TPB combined with a perceived environmental concern variable as a determinant of behavioral intention. A total of 150 questionnaires were distributed among civil society and the public sector at the district level in the Central Kalimantan Province of Indonesia. Collectively, 126 inquiries were received. A Partial Least Squares (PLS) analysis was applied to analyze and test the research model and hypothesis. The results show that all of the components of the TPB significantly influenced perceived SDG realization. The findings also partially show that knowledge sharing intention mediated the effect of attitude, perceived behavioral control, and perceived environmental concern on SDG realization. This study confirms that perspectives that affect knowledge sharing intention among public sectors could be approached based on the offered model. Hence, the local government can implement the suggestion offered in this research. The originality of this paper lies in the fact that this study discloses factors affecting knowledge sharing among public servants.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.273-280
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• 2021

Financial behavior and financial well-being are two closely related aspects of an individual's financial decision making. This study attempts to investigate the extent to which financial behavior influences financial well-being in the Indian scenario. The data is collected using a structured questionnaire from a sample of 150 respondents. The study employs Financial Management Behaviour Scale (FMBS) (Dew & Xiao, 2012) to measure financial behavior. Factor analysis and multiple regression are performed to find the influence of financial behavior on financial well-being. The findings of the study suggest that except for credit commitment all the other behavioral factors like future security, savings and investments, credit indiscipline, and financial consciousness have a significant impact on the financial well-being of an individual in the Indian scenario. The regression coefficients of financial well-being are strongly determined by financial consciousness. The study is a contribution to the existing behavioral studies literature and the model used identifies the factors that influence the financial well-being in the Indian scenario. The study is conducted during the year 2020, so the results could have been influenced by the economic scenario of the period. The results of the study can be used by financial advisors to understand the financial well-being in the Indian scenario.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.543-550
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• 2021

The purpose of the study is to investigate the simulated effects of the Philippine tax reform, which is called Tax Reform for Acceleration and Inclusion Law, on household income and occupational choice. The study utilized the Family Income Expenditure Survey and tax collection as input to Computable General Equilibrium-Top Down Behavioral Microsimulation approach to determine the effect of Philippine tax reform on household income and occupational choice. The results of the study show that the household income in the Philippines will increase due to the implementation of the Philippine tax reform. Also, the study had found that tax reform results drive the household to shift from being farming entrepreneur to salaried workers since the utility derived from being workers is much higher compared to the utility derived from being entrepreneur. The findings of this research suggest that the Philippine Tax Reform for Acceleration and Inclusion Law is beneficial to the household since their income would increase, which will further result to an increase in their capability to buy goods and services. However, the tax reform would also lead to imbalance between the distribution of numbers of workers across sectors such as entrepreneurial farming, entrepreneurial non-farming, and wage sector.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.457-470
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• 2021

The banking system provides a number of important functions for the economy and is also the lifeblood and financier of the economy in each country. Large amounts of idle money have not been exploited by banks; however, banks still depend on loans, including loans from foreign banks, to meet the growing demand, as such, for banks, the cost of capital is high, the stability and business efficiency are low and banks have not promoted their internal resources to grow steadily. To achieve the goal, this research analyzes the factors affecting the choice of bank for the deposit decisions of customers in Vietnam. The study used a sample data of 250 individuals and SPSS software was used to analyze the data. The results showed that customer policy has a positive effect on customers' deposit decisions in a bank, and this is new evidence regarding behavioral theory in the case of Vietnam. Results further demonstrated that other factors such as employee image, brand, interest rate, relative influencing, and transaction time positively impact the choice of bank for the deposit decisions of customers. However, the bank's promotion strategies had no impact on the choice of bank for the deposit decisions of customers. Besides, employee image is the most influential factor in the deposit decisions, followed by the bank's brand and interest rate.