Monopolistic third-degree price discrimination under vertical product differentiation

This paper shows in a vertical product differentiation model with variable costs of quality that monopolistic third-degree price discrimination always reduces welfare regardless of whether the quality is fixed or is endogenous. The results provide rich implications for antitrust policy.     

Increased Concentration in Banking: Megabanks and Their Implications for Deposit Insurance

During the past two decades, the U.S. banking industry has experienced an unprecedented wave of consolidation, marked by a substantial decline in the number of insured depository institutions and the emergence of banking behemoths with assets totaling in the hundreds of billions of dollars. This unparalleled concentration of assets and deposits among a handful of "megabanks" has important implications for deposit insurance. Most importantly, the Federal Deposit Insurance Corporation (FDIC) now faces a situation in which the failure of even a single megabank could overwhelm the resources immediately available to the deposit insurance system and expose both the banking industry and the government (i.e., taxpayers) to huge potential liabilities. This article highlights the current structure of the banking industry, examines the threat that this structure poses to the deposit insurance funds, and suggests possible approaches for dealing with megabanks and the increasing concentration of insured deposits.     

Measuring total factor productivity,technical change and the rate of returns to research and development

This paper examines the relationship between research and development expenditures and total factor productivity using establishment level (or micro) data. The confidential data are taken from the U.S. Bureau of the Census Annual Survey of Manufacturers and other Census surveys. Several measures of total factor productivity are considered as are several variables that proxy for technical knowledge. The latter include research and development expenditures by the firm, the accumulated research expenditures of the industry, and new equipment purchases. We find that there is a statistically significant relationship among above measures of technical expertise and a broad measure of total factor productivity.The refereeing process of this paper was handled through N.R. Adam.     

The wealth effect and diamond risk structure of financial regulation

The objective of this article was to evaluate the effect of announcements of financial regulation on risk and return in the Vietnamese equity market. The techniques used for the purpose of analysing risk and return include event study and non-parametric tests, as well as asset pricing models supplemented with interaction variables and a variety of ARCH-like specifications such as GARCH, TARCH, EGARCH and PARCH. We find evidence for the wealth effect, the presence of delayed response and a risk shifting behaviour in the form of diamond risk structure. Our results show that abnormal returns are present around the announcements of operating rules and other stock market regulations. Abnormal returns can also be obtained after considering legal documents such as circulars and decisions.     

Controls as a Sharable Knowledge Commodity: An Architecture for Open Exchange

The world seems to be getting more dangerous: terrorists; fraudulent corporations; money laundering; hurricanes; pandemics. Governments and organizations respond with a flurry of new controls. In some cases these are centrally mandated (e.g. Sarbanes Oxley). In others, organizations struggle to find their own control solutions. Seldom, however, do organizations work together as a community of common interests to share solutions to their control threats. In this paper we consider how an open exchange of control solutions might be supported electronically. We assume a community of similar organizations that wish to exchange detailed knowledge about organizational control techniques. These might be non-competing institutions, such as libraries, customs agencies, and even universities; or, they may in fact be competing organizations, wishing to exchange control solutions in dimensions where they do not compete – e.g. the airlines exchanging best practice about safety and security. The main point is to propose an information technology architecture that permits a view of organizational controls as shareable, exchangeable knowledge commodities.     

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.     

Young consumers’ green purchase behaviour in an emerging market

Young consumers represent a powerful engine in the development of environmentally conscious population as well as a promising market for green products. Marketers and organizations are therefore increasingly developing strategic marketing campaigns and environmental education programmes that target the young consumer segment. This study aims to examine a number of rational, moral, emotional and self-identity factors that may facilitate or impede green purchase behaviour among young consumers in an emerging market, Vietnam. A paper-based survey was employed to collect data from university students, which yielded an effective sample of 289 respondents. Multivariate statistics revealed that most factors (i.e. knowledge, attitudes, personal norms, self-identity and perceived barriers) significantly affected consumer purchase of energy efficient appliances, except for subjective social norms and warm glow. From these findings, implications for marketers, policy-makers and other stakeholders engaged in promoting green products are discussed.     

Entrepreneurial Reinvestment: Local Governance,Ownership, and Financing Matter—Evidence from Vietnam

This study investigates the relative importance of local governance and external financing on small firms' reinvestments. Using a set of more than 300,000 Vietnamese firm‐level observations from 2006 to 2015, this study finds that local governance quality is positively associated with small firms' reinvestments. However, regarding external funds, only informal finance is positively associated with reinvestments while government loans and bank loans serve as substitutes to reinvestments. Also, this study suggests that there is significant heterogeneity among ownership sectors and between micro‐enterprises and small firms in the way they value the relative importance of local governance arrangements and financing sources.     

Why Consumers in Developing Countries Prefer Foreign Brands: A Study of Japanese Brands in Vietnam

ABSTRACT

Building on social-identity theory, the research develops a model for understanding of the impact of consumer identification with a nation on consumers' brand evaluations. It posits that developing-country consumers' identification with a foreign (developed) nation influences three factors—consumer-based brand equity, consumer-based country image, and consumer-based brand credibility. The research was informed by data from 400 Vietnamese consumers in relation to two Japanese brands Sony and Honda and analyzed using structural equation modeling (SEM). The findings show that Vietnamese (developing-country) consumers prefer Japanese (developed-country) brands over domestic brands, when these consumers identify with the developed nation.