From Public To Private: Evidence From a Transitional Economy Setting

The literature on public financial management reform has devoted comparatively little attention to the detail and effect of reform process implementation in developing economies. This study contributes to an understanding of this phenomenon by examining the impact of privatisation on a sample of previously state-owned enterprises in Vietnam. Using a detailed, financially focused methodology and drawing on data sourced from audited general purpose financial statements, our analysis suggests evidence of material variation in financial performance and position post-privatisation compared to the position observed immediately prior to privatisation. Specifically, our data suggest that after being privatised, firms generally exhibit reductions in profitability, some degree of improvement in working capital management, an increase in financial leverage accompanied by a higher degree of solvency risk and greater calls on cash resources for the purpose of funding capital expenditure. Our results assist with understanding the impact of privatisation as a reform technique in developing economies, and may help policymakers and managers better target areas of likely risk, during the process of transition from public to private ownership.     

Organisational ambidexterity and supply chain agility: the mediating role of external knowledge sharing and moderating role of competitive intelligence

The dynamic growth of a supply chain in an incessantly changing environment emanates from the dynamics of an organisation as well as its supply chain members. The primary aim of this research is to investigate the relationships between supply chain agility and its dynamic precursors including organisational ambidexterity and external knowledge sharing. The research further examines the moderating role of competitive intelligence for the relationship between organisational ambidexterity and supply chain agility. A sample of 381 respondents from chemical manufacturing companies in Vietnam produced the data for analysis. The research results shed light on the chain effect from organisational ambidexterity through external knowledge sharing to supply chain agility. The moderating role that CI plays in the relationship between organisational ambidexterity and supply chain agility was also verified. The findings from the research broaden supply chain literature through establishing the positive effect of organisational ambidexterity on supply chain agility with CI as a moderator for this effect.     

Long memory and structural breaks in modeling the return and volatility dynamics of precious metals

We investigate the potential of structural changes and long memory (LM) properties in returns and volatility of the four major precious metal commodities traded on the COMEX markets (gold, silver, platinum and palladium). Broadly speaking, a random variable is said to exhibit long memory behavior if its autocorrelation function is not integrable, while structural changes can induce sudden and significant shifts in the time-series behavior of that variable. The results from implementing several parametric and semiparametric methods indicate strong evidence of long range dependence in the daily conditional return and volatility processes for the precious metals. Moreover, for most of the precious metals considered, this dual long memory is found to be adequately captured by an ARFIMA–FIGARCH model, which also provides better out-of-sample forecast accuracy than several popular volatility models. Finally, evidence shows that conditional volatility of precious metals is better explained by long memory than by structural breaks.     

Behind the influence of job crafting on citizen value co-creation with the public organization: joint effects of paternalistic leadership and public service motivation

This research seeks to investigate the role of paternalistic leadership in fostering job crafting among public employees, which may in turn foster citizen value co-creation with the public organization. The data were collated from public employees working in public legal service agencies in Ho Chi Minh City, Vietnam and citizens whom they served. The data analyses verified the negative association between authoritarian leadership behavior and job crafting, as well as the positive associations between benevolent and moral behaviors and job crafting. The results also revealed the positive effect of job crafting on citizen value co-creation via citizen-organization identification as a mediator.     

Asymmetric Linkages between BRICS Stock Returns and Country Risk Ratings: Evidence from Dynamic Panel Threshold Models

This study investigates the asymmetric linkages between the five BRICS (Brazil, Russia, India, China and South Africa) countries’ stock markets and three country risk ratings (financial, economic and political risk) in the presence of major global economic and financial factors. Using the dynamic panel threshold models, we find evidence of asymmetry in most cases. However, the significance and the signs of the effects of these risk ratings on the BRICS market returns differ across the lower and upper regimes. Furthermore, improvements in the global stock, West Texas Intermediate (WTI) and gold markets enhance the BRICS stock market performance. Increases in implied volatility indices lead to drops in the BRICS markets.     

Banking Mergers: The Impact of Financial Liberalization on the Taiwanese Banking Industry

The objective of this paper is to examine the nature of the Taiwanese banking sector and to analyze the impact of financial liberalization on the Taiwanese banking industry. We present empirical evidence to show that the recent wave of bank mergers observed in other countries is also suitable for Taiwan. Based on empirical results for overall economies of scale and expansion path subadditivity, Taiwanese banks should obtain the benefit of scale economies by merging with other banks rather than expanding by opening more branches. Furthermore, we show that the Relative Market Power hypothesis—which postulates that greater market shares lead to higher profitability—finds empirical support in Taiwanese banking data after financial reforms were enacted.     

Promoting Energy Efficiency in an Emerging Market: Insights and Intervention Strategies

Promoting energy efficiency and conservation is an urgent imperative in responding to the need to reduce carbon dioxide emissions, particularly in emerging markets. This article provides insights into factors that may enhance or impede the purchase of energy-efficient household appliances in Vietnam. It also suggests intervention strategies to enhance the motivators and mitigate the barriers associated with energy-efficient appliance purchases. Data were collected from shoppers in popular electronics and appliance stores. The findings reveal that consumer purchasing behaviors are motivated by long-term savings, environmental protection, social influence, green self-identity and innovative technologies. Major barriers include lack of information, low level of credibility of energy rating labels, high prices, time consumption and limited product range.

This article is of interest to policy-makers, social-environmental organizations, manufacturers and retailers in the development of more effective strategies for promoting energy efficiency and conservation. It extends current knowledge about environmentally responsible behavior in emerging markets such as Vietnam.     

Green human resource practices and organizational citizenship behavior for the environment: the roles of collective green crafting and environmentally specific servant leadership

Green behavior among employees can contribute to the green performance of organizations. Regardless of the salience of human resource (HR) practices in translating organizational strategy into employee behaviors, this role of green HR practices in shaping employee green behavior has been under-explored. Through surveys of the participants from tour operators in Ho Chi Minh City, Vietnam, our study seeks to investigate how green HR practices impact organizational citizenship behavior for the environment (OCBE) at team and individual levels as well as the mechanisms underlying such effects. The results demonstrated the positive relationships between green HR practices and collective as well as individual OCBE. Collective green crafting was found to mediate these relationships. Besides, environmentally specific servant leadership served as a moderator to strengthen the effects of green HR practices on collective green crafting as well as OCBE at team and individual levels. We anticipate our research to solicit further investigations into mechanisms underlying the nexus between green HR practices and employee green behavior. Discussion on the implications for tourism practitioners is presented.