Meeting the Challenges for Franchising in Developing Countries: The Vietnamese Experience

While business format franchising is the industry standard for developed countries, it remains an aspiration for many developing countries. Despite the attraction for developing countries of systems, training, and support and despite the economic and regulatory infrastructure being in place for the development of business format franchising, a range of commercial and socio-cultural factors may conspire to prevent its full expression. This paper addresses franchising development in Vietnam, a developing country. It considers strategies to bridge the gap between Vietnamese franchise practice and franchising best practice. It proposes that in Vietnam's current state of development, the product and trade name model may be the appropriate starting point with a move to the business format model only when, and in places where, the socio-cultural, commercial, and economic factors and the legal environment can accommodate more sophisticated business format franchise arrangements.     

Optimal infant industry protection during transition to World Trade Organization membership – A numerical analysis for the Vietnamese motorcycle industry

This paper proposes a framework to derive the optimal dynamic path of tariffs to protect infant industries when a country initiates a process to join the World Trade Organization (WTO). The framework is based on the model of Melitz (2005) in which externalities associated with dynamic learning-by-doing provide a rationale for infant industry protection. Unlike the original model, this paper assumes that there is a time limit for protection: after a fixed number of years, tariffs are required to be constant over time at a low level. This setup reflects the nature of the actual WTO agreement. This model is solved analytically to derive quantitative implications for the optimal tariff path, unlike in Melitz (2005), where only qualitative analyses are undertaken. An interesting result emerges: conventional wisdom is that a country in this situation should reduce the tariff rate gradually over time so that it converges to its long-run rate at the terminal date of protection. By contrast, this paper finds that, in some plausible scenarios, the optimal time path of the tariff can be upward sloping. A numerical analysis applied to the Vietnamese motorcycle industry, a typical infant industry in a country joining the WTO, confirms such a pattern.     

Vietnamese values,networks and family businesses in London

The article explores the so-called Confucian values associated by Hofstede and Bond (1993) with competitive advantage in business and investigates the role of ‘trust’ and ‘trusted networks’ amongst the Vietnamese of London. It investigates the extent to which distinctive cultural attributes can be detected in the ways this Overseas Vietnamese community has adapted to London, and how the Vietnamese either resemble or differ from another migrant community with whom they share a common history, namely the Overseas Chinese. The study explores the extent of Confucian influence on core values and how these may account for the relative success of Vietnamese businesses in London. The findings support the idea that the cultural inheritance of the Vietnamese has conferred a competitive advantage in business activity, but this is not exclusively Confucian.     

The bargaining power,value capture,and export performance of Vietnamese manufacturers in global value chains

This study examines the payoff of various initiatives taken by Vietnamese manufacturers to increase their bargaining power relative to global buyers and capture a larger share of the value generated in global value chains. The study focuses on functional upgrade initiatives (i.e., product development, after-sales services, distribution, and promotion) and negotiation process initiatives (i.e., market intelligence and improvement of negotiation skills). A structural equation modelling method is used to analyse the data collected in 2017 from 354 Vietnamese manufacturers inserted in global value chains. The study finds that all initiatives, except after-sales services, significantly strengthen the manufacturers' bargaining power, which, in turn, enhances their export performance.     

Doing business in Vietnam

This article examines the opportunities and challenges of doing business in Vietnam. We focus on the seven‐year development process of the venture capital industry in Vietnam as an indicator of the long‐term process of creating and managing business investments there. Although there are many lucrative business opportunities in Vietnam, there are also significant challenges that must be carefully analyzed before making an investment. Challenges include finding quality investments, long payback periods, a lengthy and expensive process to develop a management team, and significant misunderstandings because of cultural differences between Western and Vietnamese investors. © 2001 John Wiley & Sons, Inc.     

穗港澳合作发展会展业SWOT分析

会展业是现代经济中一颗耀眼的明星,具有极强的经济和社会带动力。随着经济全球化、区域化进一步向深度、广度发展,世界会展业面临的竞争更加激烈。穗港澳会展产业互补性强,三地合作发展会展业大势所趋。穗港澳合作发展会展业具有经济实力雄厚,有丰富的展会经验及客户资源、环境优良、互补性强等优势。同时,也存在重复办展,展馆重复建设,人才短缺等劣势。面对中国加入WTO、国内、国外给中国会展业带来的威胁,穗港澳应抓住国际会展中心由欧美向亚太地区转移、CEPA签署的契机等进行三地优势互补,联手参与国际竞争。     

Marketing Metrics Use in a Transition Economy: The Case of Vietnam

ABSTRACT

This article explores the use of marketing metrics by a sample of Vietnamese firms, providing an example of the use of marketing metrics in a “transition” economy as it grows and becomes more market and marketing driven. The analysis reports usage frequency and then develops a set of “correlation chains” linking firm characteristics, metric use, and various indicators of performance. Vietnamese managers generally report that several types of metrics are used. Ownership structure and industry also impact which metrics are utilized. An initial assessment of chains relating metric use to firm performance indicates that the impact is complex and indirect.     

我国城市化、技术创新对流通业发展作用的研究

通过运用我国流通业1978年～2009年数据,借助工具变量估计方法,建立流通业发展对城市化的非线性模型,发现技术创新对我国流通业发展具有非常显著的促进作用,而城市化对流通业发展的影响具有阶段性.     

Trade Diversion as Firm Adjustment to Trade Policy: Evidence from EU Anti‐dumping Duties on Vietnamese Footwear

This paper evaluates the impact of the 2006 European Union anti‐dumping (AD) action on Vietnamese footwear in three markets: imports to the EU, footwear producers in Vietnam, and the trade diversionary adjustment of Vietnamese firms in the US market. We find that the AD action reduced Vietnamese imports to the EU by as much as 65 per cent. Given that the EU makes up almost two‐thirds of Vietnam's footwear exports and footwear is among the top four export industries for Vietnam, this reduction is economically significant. Consistent with predictions of our model, we find evidence of trade diversion by Vietnamese producers from the EU to the US market. Our difference‐in‐difference estimates of the AD actions on the value of Vietnamese footwear imports to the United States ranged from 69 to 71 per cent over the period 2004–07 and 69 to 72 per cent in terms of quantity. These results highlight the spillover effects of trade policy in third markets when firms adjust to trade barriers. Our results are robust to triple‐difference specifications where we adjust for trend differences and a series of placebo specifications.     

新能源战略性新兴产业发展问题与对策——以河北省为例

在国际金融危机的冲击下和世界经济环保化、低碳化、可持续化的发展趋势下,新能源已经成为我国战略性新兴产业的重要发展方向之一。本文在对河北省新能源产业发展现状进行分析的基础上,从产业分布、产业规模、融资渠道、政策体系等角度界定了河北省新能源产业存在的主要问题,认为河北省应细化产业规划,推动新能源产业结构优化升级;衔接京津规划,谋求京津冀新能源协同发展;推动技术研发,提升新能源产业自主创新能力;采取多种措施,拓宽新能源企业融资渠道;搭建服务平台,全方位推动新能源产业发展。     

Corruption,Types of Corruption and Firm Financial Performance: New Evidence from a Transitional Economy

Using a nationwide survey of provincial institutional quality and a sample of private manufacturing small and medium scale enterprises (the SMEs), this paper contributes to the literature by considering for the first time the effects of corruption on the financial performance of Vietnamese private SMEs. Interestingly, contrary to previous findings, we find that corruption when measured by a dummy variable, does not affect firms’ financial performance after controlling for heterogeneity, simultaneity and dynamic endogeneity. However, the intensity of bribery and the majority of the forms of corruption were found to have negative impacts on firms’ financial performance. Hence, a typical approach using only a dummy variable for bribery might not adequately evaluate the impact of bribe intensity or even ignores the negative impacts of some types of bribes on firms’ financial performance. The findings suggest that anti-corruption measures are vital for the development of the Vietnamese private SMEs.     

International financial integration: Stock return linkages and volatility transmission between Vietnam and advanced countries

This paper investigates the interdependence between the Vietnamese stock market and other influential equity markets in terms of return linkage and volatility transmission covering the period including pre, during and post the 2008 Global Financial Crisis. A VAR model is utilized to estimate the conditional return linkage among these indices and a GARCH-BEKK model is employed to investigate the volatility transmission. We find evidence of statistically significant correlation, return spillover and volatility linkage between Vietnamese stock market with other leading equity markets of the US, Hong Kong and Japan. Moreover, we find that during the financial crisis, stock markets become more interrelated.     

替代弹性、劳动力流动与我国服务业“天花板效应”——基于非均衡增长模型的分析

本文构建二阶段非均衡增长模型,将农业统一纳入分析框架,分析劳动力在我国三次产业间违规律流动现象,进而寻找我国经济服务化进程缓慢的原因和解决办法。研究表明:由于阶段间要素替代弹性不同和服务业存在"天花板效应",我国当前经济服务化路径表现为"去农业化"而非"去工业化",服务业低层次发展现状短期内将无法突破。本文支持中国服务业比重长期过低的主要原因是服务业市场长期局限于本地化市场及其容量的观点,并进一步指出服务业发展所需要的劳动力要素供给不足是导致我国服务业比重长期过低的直接原因。为了加快经济服务化进程,急需解决我国生产者服务业发展滞后的问题。     

金融发展、技术创新与对外贸易产业升级——基于空间计量的实证研究

内生经济增长理论认为,金融发展对技术创新和对外贸易产业升级均具有十分重要的作用。文章利用省际数据,引入空间回归方法估计了金融发展对技术创新水平的影响;再进一步控制技术创新水平,加入空间依赖性来估计金融发展对对外贸易产业升级的促进作用。实证研究表明银行信贷与技术创新和对外贸易产业升级均具有显著的正向关系;股票市场仅与对外贸易产业升级有着显著的正向关系;保险市场并没有表现出对技术创新和对外贸易产业升级的促进作用。     

Impacts of Trade Liberalisation Commitments on the Vietnamese Economy: A CGE Approach

This article quantifies the economic effects of tariff reduction following Vietnam's WTO accession. It differs from previous studies in several aspects. First, the model incorporates non‐standard features of the Vietnamese economy (e.g. changes in the domestic tax system). Second, the model divides Vietnamese households into 10 groups, allowing for the assessment of household welfare and income distribution. Third, the model has been run employing the most up‐to‐date database available. The major findings are summarised as follows. First, Vietnam as a whole would benefit from trade liberalisation. Second, the overall gain would be accompanied by a redistribution of income and a moderate increase in inequality between the rich and the poor. Third, concerning sectoral output, export‐oriented sectors, sectors with large shares of input in total imports, and those with increased domestic demands are likely to expand, whereas, in contrast, domestic‐oriented sectors are likely to contract. Measures to increase labour mobility, target disadvantaged groups and areas, and further liberalise service sectors are recommended as the recipe for effective utilisation of integration, as well as a more equitable pattern of growth.     

广东省智慧产业、创意产业、知识型服务业的创新智力要素研究

智慧产业、创意产业、知识型服务业发展创新的关键是人才,而影响人才发展的智力因素包括观察力、思维能力、创造力等,其能力的培养主要依靠高校的教育。目前,广东省各大高校由于教学方式陈旧、教师素质较低、教育体系不完善等原因,还存在人才观察力不足、思维能力较弱、缺乏想象力等问题。广东省高校应加快形成开放式的育人模式,完善自身的教育体系,建立多渠道的交流机制,增强与政府、企业的互动,构建多层次的发展平台,以培养一批优秀的人才,促进其服务业的进一步发展。     

澳门博彩业的经济带动能力及其产业政策取向分析

澳门经济的突出特征之一,就是对海外资源的有效利用。文章针对澳门博彩业"一枝独秀"的现状,运用灰色关联度、VAR模型分析了博彩业发展对澳门就业、固定资产投资、相关产业、经济增长、海外资源的带动能力,基本结论是:澳门博彩业的产业集中度高、产业关联度低,对相关产业的带动作用小;博彩业发展对经济增长的带动作用较大,但对就业、社会固定资产投资、海外资源的带动作用较小;博彩业发展与经济增长率、就业率、固定资产投资增长率之间存在双向而非单向的因果关系;产业风险性大等决定了澳门政府应该采取相应的产业政策促使其产业结构适度多元化。     

自贡旅游产业优化发展的现状、主要问题及对策

实现由旅游资源大市向旅游经济强市跨越的奋斗目标，是自贡市经济社会发展面临的一个现实课题。文章基于自贡旅游产业发展的目前状况，提出了将自贡旅游产业培育成国民经济战略性支柱产业，强化对自贡旅游产业的金融支撑，以及有机整合川南旅游资源等政策建议，以促进自贡旅游产业优化、配套发展。     

Information internalisation and internationalisation—Evidence from Vietnamese firms

Previous research on internationalisation has mainly focused on the collection and use of information. In this article we examine the role of information internalisation in international business activities of Vietnamese firms. A theoretical model incorporating key antecedents and outcomes of information internalisation is developed. The antecedents are market orientation and learning orientation, and the outcomes are international orientation and foreign sales intensity. A survey of 144 Vietnamese internationalising firms was conducted to test the model in conjunction with its two competing models by means of a two-step approach to structural equation modelling. We found that both information internalisation has direct and indirect effects (mediated by international orientation) on foreign sales intensity. Further, market orientation and learning orientation underlie information internalisation. Implications for managers and directions for future research are also addressed.     

长三角一体化科创产业融合发展体系研究

长江三角洲区域一体化发展作为国家战略，亟需尽快完善区域协同创新体系，勇当科技产业创新开路先锋，力争成为全国重要的创新策源地。其中，如何通过创新链和产业链的深度有效融合，加快实现创新科技成果的产业化，汇聚产学研的创新力量，从根本上消除科技经济“两张皮”的问题，是长三角区域夯实自身核心竞争力，代表国家参与国际竞争与合作的有效路径。因此，本文首先就长三角区域各个城市科创产业融合发展情况进行分析。接着以集成电路产业为例，聚焦集成电路产业的科创产业融合态势，对产业基础和优势进行概述，就其产业链的薄弱点进行梳理，同时围绕产业链中的问题，以及今后产业与科技创新发展有效融合的着力点提出建议。最后，针对长三角区域整体科创产业融合发展提出相应的路径模式。