Tran Thi Thanh Tu Dean, Faculty of Banking and Finance VNU University of Economics and Business... Tran Thi Thanh Tu Dean, Faculty of Finance and Banking University of Economics and Busi
Trang 2Dear distinguished researchers, experts and policy makers and participants!
By launching the 2030 Sustainable Development Agenda, issued in conjunction with Decision No 622/QĐ-TTg dated 10th May 2017 by the Prime Minister, the Government of Vietnam confirmed national goals of sustainable development and is committed to mobilizing all resources and the participation of government ministries and agencies at all levels, organizations, communities and the people The financial, banking and accounting systems are important components of the economy As the lifeblood of society, they experience significant impacts and importance for achievements of the 2030 Agenda and 17 Sustainable Development Goals Given the current context, the University of Economics and Business - VNU co-organize with Manning School of Business, University of Massachusetts
Lowell (UMass Lowell) an international conference on “ Contemporary Issues in Finance, Banking and Accounting” (CIFBA 2020) The aim of
the conference does not limit to attracting participations of various parties; beyond that, our ambition is to reach a disseminating effect, that is, to create networks among researchers and practitioners, to create linkages among academics and policy makers and to open new interdisciplinary research opportunities within VNU and for Vietnam as a whole On top of that, the unique and valuable dimension of the conference is to provide a forum for academics and practitioners from the fields of finance, banking, and accounting to present their research and discuss contemporary issues related to financial market development, banking supervision and macro prudential for the sustainable development in Vietnam, and the need for the adoption of common global accounting practices
This volume of proceedings aims to provide readers with a selection of refereed papers presented by academics and experts from Vietnam and international The proceedings consist of more than 50 full text papers, all
of which are peer-reviewed and cover 12 topics relating to the main theme, including: (1) Capital market and investment; (2) Financial Behaviors; (3) Fund management strategy; (4) Green Finance; (5) Service quality and corporate governance; (6) Public finance, insurance and information management; (7) Performance of financial institution; (8) Banking technology and equity brand; (9) Risk management in the banking system; (10) Accounting information management; (11) Information Disclosure and Auditing; (12) Management accounting: Industry’s perspective
The papers contribute the most recent scientific knowledge, practical experience, as well as research findings in the field of fields of finance,
Trang 3banking, and accounting in general and contemporary issues related to financial market development, banking supervision and macro prudential in Industry Revolution 4.0, insurance and pension fund management, and the need for the adoption of common global accounting practices, in particular
We believe that these proceedings are impetus to incentivize further study and research in all the areas
We would like to thank to the Manning School of Business, University of Massachusetts Lowell (UMass Lowell) for cooperation and dedication in organizing the conference and do hope that this Conference will be the foundation for the cooperation between UEB - VNU and UMass Lowell in the near future
Last but not least, we would like to thank all keynote speakers, authors and referees for contribution of their wisdom, all the participants, reporters, media representatives and to many who go unnamed for their relentless support and inspiration
Wish you all happiness, success and health!
Hanoi, 6 January, 2020
Co-chair Assoc Prof Tran Thi Thanh Tu Dean, Faculty of Banking and Finance VNU University of Economics and Business
Trang 4IN TERNATIONAL CONFERENCE ON - CIFBA 2020
ACKNOWLEDGEMENT OF SPONSORS
University of Economics and Business (UEB-VNU) gratefully acknowledges the following organizations for their generous financial and in-kind contributions received
in support of the CIFBA International Conference in 2020
1 National Foundation for Science and Technology Development (NAFOSTED)
2 Vietnam Public Joint-stock Commercial Bank (PVcomBank)
3 MB Securities Joint Stock Company (MBS)
4 Fulbright Vietnam
5 Joint-stock Commercial Bank for Investment and Development of Vietnam -
Ha Thanh Branch (BIDV Ha Thanh)
6 Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank)
Trang 5VIETNAM NATIONAL UNIVERSITY - UNIVERSITY OF ECONOMICS AND BUSINESS
EDITORIAL BOARD
Assoc Hieu V Phan
University of Massachusetts Lowell
Prof Steven Freund
Chair of Finance Department
University of Massachusetts Lowell
Assoc Dr Tran Thi Thanh Tu
Dean, Faculty of Finance and Banking
University of Economics and Business - VNU
Dr Nguyen Thi Hong Thuy
Dean, Faculty of Accounting and Auditing
University of Economics and Business - VNU
Dr Nguyen Phu Ha
Chair of Department, Faculty of Finance and Banking
University of Economics and Business - VNU
Dr Nguyen Thi Nhung
Lecturer, Faculty of Finance and Banking
University of Economics and Business - VNU
Dr Nguyen Huong Lien
Associate Dean, Faculty of Accounting and Auditing
University of Economics and Business - VNU
PhD Candidate To Lan Phuong
Lecturer, Faculty of Finance and Banking
University of Economics and Business - VNU
MBA Nguyen Khanh Tin
Lecturer, Faculty of Finance and Banking
University of Economics and Business - VNU
Trang 6IN TERNATIONAL CONFERENCE ON - CIFBA 2020
CONTENTS
Page BOARD COMPOSITION AND RISK TAKING AFTER THE FINANCIAL CRISIS: EVIDENCE FROM U.S BANKS 12
Tu Tran Thi Thanh, Minh Doan Duc, Dong Dao Phuong, Linh Nguyen
Khanh
INSIDERS, OUTSIDERS AND PERFORMANCE OF VIETNAMESE FIRMS 37
Richard Beason, Tu Tran Thị Thanh, Dong Phuong Dao
CEO INSIDE DEBT AND INTERNAL CAPITAL MARKET EFFICIENCY 46
Steven Freund, Hien T Nguyen, Hieu V Phan, and Hien T Tan
DIFFERENTIAL EFFECTS OF CREDIT ACCESS ON EMPLOYMENT GROWTH OF FORMAL AND INFORMAL FIRMS: EMPIRICAL EVIDENCE
Trịnh Q Long, Peter Morgan, Minh B Tran
DETECTING INFORMED TRADING IN HIGH FREQUENCY MARKETS 74
Chan Wung Kim, Timothy T Perry, Sangphill Kim, Stephen Clark4
THE ALTMAN ‘Z’ IS “50” AND STILL YOUNG: BANKRUPTCY PREDICTION
AND STOCK MARKET REACTION DUE TO SUDDEN EXOGENOUS SHOCK 75
Dev Prasad, Rajeeb Poudel, Ravi Jain
A REFORM PROPOSAL FOR VIETNAM PENSION SYSTEM: COORDINATED
DEVELOPMENT OF THE PUBLIC-PRIVATE PENSIONS EXPERIENCE
Phuong To Lan, You Mi Lee, Hoang Bao Ngoc
POLITICAL CORRUPTION AND MERGERS AND ACQUISITIONS 108
Nam H Nguyen, Hieu V Phan, and Thuy Simpson
IMPACTS OF OWNERSHIP STRUCTURE ON STOCK PRICE SYNCHRONICITY
OF LISTED COMPANIES ON VIETNAM STOCK MARKET 109
Nguyen Thi Minh Hue, Phan Trong Nghia, Vu Thi Thuy Van
EFFECT OF EQUITY ISSUES ON STOCK PRICES: CASE OF LARGEST COMMERCIAL BANKS IN VIETNAMESE STOCK MARKETS 124
Nguyen Phu Ha
SUSTAINABLE EARNINGS AND FORECAST OF SUSTAINABLE EARNINGS:
CASE OF VIETNAM LISTED COMPANIES 141
Do Hong Nhung, Nha Tue Van Pham, Tran Thi Thu Hien
A STUDY OF VIETNAM’S LEATHER AND FOOTWEAR COMPANIES: FOCUS ON THE RELATIONSHIP BETWEEN LIQUIDITY AND FIRMS’
Tran Thi Thu Trang, Le Thanh Huyen
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VENTURE CAPITAL INDUSTRY IN VIETNAM: CHALLENGES AND POLICY
Minh Chau Dao
WHERE BETA GOING - CASE IN VIET NAM BANKING, INSURANCE AND STOCK INVESTMENT COMPANY GROUPS AFTER THE LOW INFLATION
Dinh Tran Ngoc Huy, Vo Kim Nhan, Nguyen Le Duyen, Pham Tuan Anh
ARIMA AND ARCH/GARCH MODEL: FORECASTING SHORT-TERM VNIBOR AND MANAGING RISK IN VIETNAMESE BANKING SYSTEM 200
Tin Khanh Nguyen, Mai Thi Nguyen
COFFEE HEDGING: EVIDENCE OF ROBUSTA FROM VIETNAM 224
Nguyen Thi Nhung, Tran Thi Van Anh, Nguyen Nhu Ngan, Tran Thi Hong,
Nguyen Dinh Cuong
BANKING RELATIONSHIP AND FIRM PROFITABILITY IN VIETNAM 256
Dang Thi Thu Hang
FACTORS AFFECTING ACCESS TO FINANCE BY SMALL AND MEDIUM
Pham Cong Do, Vo Tan Phong, Phan Van Thuong, Nguyen Hoang Tien
FACTORS AFFECTING CONSUMER BEHAVIOR OF PAYMENT CARD USERS
Nguyen Quang Huy, Nguyen Thi Thu May
THE ROLE OF INVESTOR SENTIMENT IN EQUITY PRICING 301
Vu Thi Loan, Dinh Thi Hai Yen, Cu Huy Nam, Hoang Dinh Khanh
MEASURING IMPACT OF PSYCHOLOGICAL FACTORS ON STOCK MARKET
Nguyen Thi Nhung, Tran Thi Van Anh, Doan Duc Minh
DETERMINANTS OF FINANCIAL BEHAVIOURS AMONG UNDERGRADUATES: EMPIRICAL EVIDENCE FROM VIETNAM 322
Nguyen Thi Kim Oanh, Nguyen Phuong Linh
A LITERATURE REVIEW: HOW ENVIRONMENTAL RESPONSIBILITY RELATES TO FIRM’S FINANCIAL PERFORMANCE 338
Ngo Quang Tuan
GREEN BANK IN VIETNAM: LEVEL OF DEVELOPMENT AND
Phuong Ngo Anh, Tu Tran Thi Thanh, Nhung Nguyen Thi
TRANSFORMING TOWARD GREEN UNIVERSITIES-FINANCIAL CONSTRAINTS AND POLICY IMPLICATIONS 372
Pham Vu Thang
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TRADE LIBERALIZATION AND TAX STRUCTURE: NEW EVIDENCE FROM
Xuan-Hang Tran; Van-Cuong Dang; Minh-Hang Nguyen
THE IMPACT OF CASH FLOW MANAGEMENT TO INFORMATION DISCLOSURE IN FINANCIAL STATEMENTS OF LISTED FDI ENTERPRISES
Thuy Nguyen Thi Hong, Phuong To Lan, Tuyen Nguyen Thi Hai, Thuong
Dang Thi Hoai, Thuy Nguyen Thi
INVESTIGATING FACTORS IMPACTING ON INTENTION TO USE BANKING SERVICES IN RURAL AREAS AND SUBURBS OF HANOI 404
Nguyen Thi Hanh, Nguyen Chu Du
THE INTERACTIVE RELATIONSHIP BETWEEN THE CREDIT SIZE AND FINANCIAL SUSTAINABILITY OF THE FOMAL MICROFINANCE
Ha Van Duong
BANK SIZE AND PROFITABILITY OF COMMERCIAL BANKS
Le Dong Duy Trung, Nguyen Duy Thanh
THE IMPACT OF NON - PERFORMING LOANS ON PROFITABILITY OF VIETNAMESE COMMERCIAL BANKS 449
Pham Phat Tien, Nguyen Thi Huyen My
DIGITAL CURRENCIES FOR CENTRAL BANKS 458
Phan Thi Linh, Phan Dien Vy
DIFFERENT FACTORS THAT AFFECT THE BRAND EQUITY OF VIETNAMESE COMMERCIAL BANKS 469
Nguyen Quoc Huy, Nguyen The Khai, Lu Phi Nga
THE RELATIONSHIP BETWEEN COMPLAINT HANDLING, CUSTOMER’S SATISFACTION, TRUST AND LOYALTY AT COMMERCIAL BANKS IN HO
Ha Van Dung
EFFECT OF BRAND EQUITY ON BANK FINANCIAL PERFORMANCE IN
Ha Van Dung
CURRENT SITUATION OF FINANCIAL SECURITY OF VIETNAM COMMERCIAL BANKING SYSTEM FOR THE PERIOD 2010 - 2017 506
Le Thi Mai Huong
DETERMINANTS OF RISK-TAKING OF VIETNAMESE BANKS AFTER
Tu Tran Thi Thanh, Yen Nguyen Thi,
Dick Beason, Long Tran
Trang 9VIETNAM NATIONAL UNIVERSITY - UNIVERSITY OF ECONOMICS AND BUSINESS
FACTORS AFFECTING THE STABILITY OF COMMERCIAL BANKS IN
Tram Thi Xuan Huong, Nguyen Tu Nhu
CYBERCRIMES IN THE BANKING SECTOR: CASE STUDY OF VIETNAM 556
Le Thanh Tam, Nguyen Minh Chau, Tran Thi Thuy Duong, Pham Ngoc
Mai, Ngo Ha Phuong,Vu Khanh Huyen Tran
THE INFLUENCE OF ACCOUNTING INFORMATION ON STOCK PRICE OF
Pham Ngoc Quang, Vu Thi Thuy Dung
FINANCIAL STATEMENT FRAUDS AT LISTED REAL ESTATE COMPANIES
Tran The Nu, Duong Thi Hai Trang,
Vu Thi Phuong Anh, Nguyen Thi Kim Chi
QUALITY OF ACCOUNTING INFORMATION SYSTEMS: LITERATURE REVIEWS AND PROPOSING RESEARCH MODEL FOR VIETNAMESE FIRMS
591
Ta Quang Binh, Nguyen Thi Thuan
DETERMINANT OF AUDITOR CHOICE: THE CASE OF THE LISTED COMPANY IN VIET NAM’S STOCK EXCHANGE 603
Hoang Thi Hong Van
THE SITUATION OF SUSTAINABILITY REPORTS IN VIETNAM: A CASE STUDY OF TEN LISTED COMPANIES 626
Nguyen Thi Phuong Dung, Bui Thu Hien, Nguyen Thao Linh
OVERVIEW OF RESEARCH STUDIES ON THE FACTORS AFFECTING AUDIT OPINION ON FINANCIAL STATEMENT OF LISTED COMPANIES 640
Do Quynh Chi, Dinh The Hung,
Nguyen Thi Huong Lien
THE RELATIONSHIP BETWEEN CEO’S CHARACTERISTICS AND FIRMS
Nguyen Hoang Thai, Vo Thi Hoa Mai, Ngo Thi Thu Ha, Nguyen Thi Sao Chi
FACTORS AFFECTING THE USE OF MANAGEMENT ACCOUNTING AT PUBLIC HEALTH CARE UNITS UNDER THE HO CHI MINH DEPARTMENT
OF HEALTH
663
Pham Ngoc Toan, Le Thi My Nuong
TEXTILE ENTERPISES WITH MODERN COST MANAGEMENT
Vu Thi Thao
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OPTIMUM RESERVES IN VIETNAM BASED ON THE APPROACH OF COST-BENEFIT FOR HOLDING RESERVES AND SOVEREIGN RISK 678
Tran Vuong Thinh, Le Phan Thi Dieu Thao
CORPORATE SOCIAL RESPONSIBILITY AND TAX AVOIDANCE COMPARISON BETWEEN LISTED CONSTRUCTION FIRMS AND REAL ESTATE FIRMS IN VIETNAM
Thai Minh Hanh, Dao Thanh Binh, Nguyen Thuc Huong Giang
692
DEBT EQUITY FINANCING CHOICE UNDER FINANCIAL
CONSTRAINTS: DOES CORPORATE SOCIAL RESPONSIBILITY MATTER?
Anh Ngo, Hong Duong, Thanh Nguyen, Zuobao (Eddie) Wei
725