Purpose Innovation is widely considered a key driver of socioeconomic development. Despite ongoing efforts to enhance innovation, Vietnam continues to face challenges that hinder its innovation capacity. This study aims to investigate the effects of global value chain (GVC) participation on the innovation of Vietnamese firms during 2005–2023. Design/methodology/approach Using firm-level data from the World Bank’s Enterprise Survey over the period 2005–2023, the authors apply a probit model to quantify the effects of GVC engagement on firm innovation. To address potential endogeneity concerns, the authors use an instrument variable approach for estimation. Findings The findings show that firms participating in GVCs are more likely to introduce new products and new processes compared with non-GVC firms, with profound effects observed for small and medium firms. Factors such as firm age, credit line, official employee training program and informal competition also contribute positively to innovation, whereas higher production capacity appears to reduce the likelihood of introducing new products and processes. Originality/value This study contributes to the existing literature on the relationship between GVC participation and firm-level innovation. Based on these findings, several policy implications are proposed to support firms in participating in GVCs and promoting their innovative activities. In addition, the study provides broader insights by analyzing a diverse range of firms, thereby capturing potential heterogeneity in innovation activities related to firm size and ownership structure.
This study examines the relationship between environmental, social, and governance (ESG) disclosures and firm profitability in Vietnam, a transitional emerging economy characterized by significant state ownership and evolving corporate governance structures. Drawing on stakeholder, agency, and resource dependence theories, and building on prior ESG-performance research largely conducted in developed markets (Alareeni & Hamdan, 2020; Rahi et al., 2024), we investigate whether the financial effects of ESG disclosures are contingent on governance conditions. Using panel data from 147 Vietnamese listed firms over the period 2014-2023 and fixed-effects regressions with Driscoll-Kraay robust standard errors, we analyze the effects of environmental (E), social (S), and governance (G) disclosures on return on assets (ROA). The results indicate that social and governance disclosures are positively associated with profitability, whereas environmental disclosure shows no significant short-term effect. Moreover, state ownership weakens the positive impacts of environmental and governance disclosures, board gender diversity amplifies the effect of governance disclosure, and board independence unexpectedly reduces the performance gains from environmental and social disclosures. These findings contribute to the ESG literature by demonstrating that ESG value creation is highly context-dependent and shaped by ownership structure and board characteristics, offering new evidence from an underexplored emerging market setting.
This study explores the impact of trade openness and foreign direct investment (FDI) on economic growth and sustainable socioeconomic development in Southeast Asian countries, considering their diverse economic structures and policy frameworks. Utilizing panel ARDL methods, the findings demonstrate that trade openness and FDI significantly drive economic growth, with differential effects across the region. Advanced economies like Singapore and Brunei capitalize on robust financial systems and global market integration to maximize economic benefits. Industrializing nations, including Malaysia, Thailand, Indonesia, Vietnam, and the Philippines, leverage FDI and export growth but face challenges from inadequate infrastructure and governance issues, limiting equitable socioeconomic outcomes. Less-developed countries such as Myanmar, Laos, Cambodia, and Timor-Leste struggle to harness globalization's potential due to weak industrial bases and institutional barriers, exacerbating vulnerabilities to market volatility. The study underscores the need for robust economic policies, transparent governance, and sustainable strategies to balance economic growth with social inclusion and environmental protection, contributing to resilient socioeconomic development in Southeast Asia.
This study examines eco-innovation investment strategies across the global energy sector in response to energy security concerns and geopolitical risks. Drawing on growth options theory and real options theory, and using a comprehensive dataset of 1351 energy firms across 20 countries from 2002 to 2020 (10,501 firm-year observations), we find that energy-related uncertainty and geopolitical risk play significant roles in shaping firms' ecoinnovation strategies. Energy-related uncertainty is positively associated with eco-innovation, suggesting that firms increase investments in eco-innovation to manage uncertainty and enhance energy security. However, this positive effect weakens as geopolitical risk intensifies. In other words, while energy-related uncertainty can stimulate eco-innovation, political instability dampens this relationship. Overall, our findings advance both theory and practice by providing new insights into how energy firms adjust their eco-innovation strategies amid geopolitical conflict and energy-related uncertainty.
Chất lượng hoạt động kiểm toán độc lập (KTĐL) ngày càng được quan tâm. Hoạt động KTĐL nhằm đảm bảo tính trung thực, hợp lý của báo cáo tài chính, tăng cường minh bạch thông tin, ngăn ngừa lãng phí, và bảo vệ lợi ích hợp pháp của các bên liên quan (nhà đầu tư, cổ đông). Điều này củng cố niềm tin thị trường, hỗ trợ quản lý nhà nước và nâng cao uy tín doanh nghiệp. Bài viết này đánh giá chung về thực trạng hoạt động KTĐL và kiểm soát chất lượng dịch vụ KTĐL; chỉ ra các hạn chế, khó khăn, vướng mắc trong quá trình giám sát KTĐL; kinh nghiệm quốc tế về giám sát KTĐL; trên cơ sở đó đề xuất định hướng nâng cao đề ra các giải pháp về kiểm soát chất lượng nhằm nâng cao năng lực giám sát KTĐL ở Việt Nam
