Contents International Conference On Cifba 202045500

Preface Dear 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, banking, 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 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, January, 2020 Co-chair Assoc Prof Tran Thi Thanh Tu Dean, Faculty of Banking and Finance VNU University of Economics and Business IN 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 National Foundation for Science and Technology Development (NAFOSTED) Vietnam Public Joint-stock Commercial Bank (PVcomBank) MB Securities Joint Stock Company (MBS) Fulbright Vietnam Joint-stock Commercial Bank for Investment and Development of Vietnam Ha Thanh Branch (BIDV Ha Thanh) Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) VIETNAM 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 IN TERNATIONAL CONFERENCE ON - CIFBA 2020 CONTENTS Page BOARD COMPOSITION AND RISK TAKING AFTER THE FINANCIAL CRISIS: EVIDENCE FROM U.S BANKS Tu Tran Thi Thanh, Minh Doan Duc, Dong Dao Phuong, Linh Nguyen Khanh INSIDERS, OUTSIDERS AND PERFORMANCE OF VIETNAMESE FIRMS Richard Beason, Tu Tran Thị Thanh, Dong Phuong Dao CEO INSIDE DEBT AND INTERNAL CAPITAL MARKET EFFICIENCY 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 FROM VIETNAM Trịnh Q Long, Peter Morgan, Minh B Tran DETECTING INFORMED TRADING IN HIGH FREQUENCY MARKETS 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 Dev Prasad, Rajeeb Poudel, Ravi Jain A REFORM PROPOSAL FOR VIETNAM PENSION SYSTEM: COORDINATED DEVELOPMENT OF THE PUBLIC-PRIVATE PENSIONS EXPERIENCE FROM THE REPUBLIC OF KOREA Phuong To Lan, You Mi Lee, Hoang Bao Ngoc POLITICAL CORRUPTION AND MERGERS AND ACQUISITIONS Nam H Nguyen, Hieu V Phan, and Thuy Simpson IMPACTS OF OWNERSHIP STRUCTURE ON STOCK PRICE SYNCHRONICITY OF LISTED COMPANIES ON VIETNAM STOCK MARKET 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 Nguyen Phu Ha SUSTAINABLE EARNINGS AND FORECAST OF SUSTAINABLE EARNINGS: CASE OF VIETNAM LISTED COMPANIES 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’ PROFITABILITY Tran Thi Thu Trang, Le Thanh Huyen 12 37 46 47 74 75 85 108 109 124 141 163 VIETNAM NATIONAL UNIVERSITY - UNIVERSITY OF ECONOMICS AND BUSINESS VENTURE CAPITAL INDUSTRY IN VIETNAM: CHALLENGES AND POLICY DEVELOPMENT Minh Chau Dao WHERE BETA GOING - CASE IN VIET NAM BANKING, INSURANCE AND STOCK INVESTMENT COMPANY GROUPS AFTER THE LOW INFLATION PERIOD 2015-2017 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 Tin Khanh Nguyen, Mai Thi Nguyen COFFEE HEDGING: EVIDENCE OF ROBUSTA FROM VIETNAM Nguyen Thi Nhung, Tran Thi Van Anh, Nguyen Nhu Ngan, Tran Thi Hong, Nguyen Dinh Cuong BANKING RELATIONSHIP AND FIRM PROFITABILITY IN VIETNAM Dang Thi Thu Hang FACTORS AFFECTING ACCESS TO FINANCE BY SMALL AND MEDIUM ENTERPRISES IN VIET NAM Pham Cong Do, Vo Tan Phong, Phan Van Thuong, Nguyen Hoang Tien FACTORS AFFECTING CONSUMER BEHAVIOR OF PAYMENT CARD USERS IN VIETNAM Nguyen Quang Huy, Nguyen Thi Thu May THE ROLE OF INVESTOR SENTIMENT IN EQUITY PRICING Vu Thi Loan, Dinh Thi Hai Yen, Cu Huy Nam, Hoang Dinh Khanh MEASURING IMPACT OF PSYCHOLOGICAL FACTORS ON STOCK MARKET IN VIETNAM Nguyen Thi Nhung, Tran Thi Van Anh, Doan Duc Minh DETERMINANTS OF FINANCIAL BEHAVIOURS AMONG UNDERGRADUATES: EMPIRICAL EVIDENCE FROM VIETNAM Nguyen Thi Kim Oanh, Nguyen Phuong Linh A LITERATURE REVIEW: HOW ENVIRONMENTAL RESPONSIBILITY RELATES TO FIRM’S FINANCIAL PERFORMANCE Ngo Quang Tuan GREEN BANK IN VIETNAM: LEVEL OF DEVELOPMENT AND DETERMINANTS Phuong Ngo Anh, Tu Tran Thi Thanh, Nhung Nguyen Thi TRANSFORMING TOWARD GREEN UNIVERSITIES-FINANCIAL CONSTRAINTS AND POLICY IMPLICATIONS Pham Vu Thang 172 181 200 224 256 273 289 301 311 322 338 345 372 IN TERNATIONAL CONFERENCE ON - CIFBA 2020 TRADE LIBERALIZATION AND TAX STRUCTURE: NEW EVIDENCE FROM ASEAN COUNTRIES 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 IN VIETNAM 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 Nguyen Thi Hanh, Nguyen Chu Du THE INTERACTIVE RELATIONSHIP BETWEEN THE CREDIT SIZE AND FINANCIAL SUSTAINABILITY OF THE FOMAL MICROFINANCE INSTITUTIONS IN VIETNAM Ha Van Duong BANK SIZE AND PROFITABILITY OF COMMERCIAL BANKS EVIDENCE IN VIETNAM Le Dong Duy Trung, Nguyen Duy Thanh THE IMPACT OF NON - PERFORMING LOANS ON PROFITABILITY OF VIETNAMESE COMMERCIAL BANKS Pham Phat Tien, Nguyen Thi Huyen My DIGITAL CURRENCIES FOR CENTRAL BANKS Phan Thi Linh, Phan Dien Vy DIFFERENT FACTORS THAT AFFECT THE BRAND EQUITY OF VIETNAMESE COMMERCIAL BANKS 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 CHI MINH CITY Ha Van Dung EFFECT OF BRAND EQUITY ON BANK FINANCIAL PERFORMANCE IN HO CHI MINH CITY Ha Van Dung CURRENT SITUATION OF FINANCIAL SECURITY OF VIETNAM COMMERCIAL BANKING SYSTEM FOR THE PERIOD 2010 - 2017 Le Thi Mai Huong DETERMINANTS OF RISK-TAKING OF VIETNAMESE BANKS AFTER GLOBAL FINANCIAL CRISIS Tu Tran Thi Thanh, Yen Nguyen Thi, Dick Beason, Long Tran 380 390 404 416 430 449 458 469 482 496 506 515 VIETNAM NATIONAL UNIVERSITY - UNIVERSITY OF ECONOMICS AND BUSINESS FACTORS AFFECTING THE STABILITY OF COMMERCIAL BANKS IN VIETNAM Tram Thi Xuan Huong, Nguyen Tu Nhu CYBERCRIMES IN THE BANKING SECTOR: CASE STUDY OF VIETNAM 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 LISTED FIRMS IN VIETNAM Pham Ngoc Quang, Vu Thi Thuy Dung FINANCIAL STATEMENT FRAUDS AT LISTED REAL ESTATE COMPANIES ON VIETNAM’S STOCK MARKET 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 Ta Quang Binh, Nguyen Thi Thuan DETERMINANT OF AUDITOR CHOICE: THE CASE OF THE LISTED COMPANY IN VIET NAM’S STOCK EXCHANGE Hoang Thi Hong Van THE SITUATION OF SUSTAINABILITY REPORTS IN VIETNAM: A CASE STUDY OF TEN LISTED COMPANIES 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 Do Quynh Chi, Dinh The Hung, Nguyen Thi Huong Lien THE RELATIONSHIP BETWEEN CEO’S CHARACTERISTICS AND FIRMS FINANCIAL PERFORMANCE 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 Pham Ngoc Toan, Le Thi My Nuong TEXTILE ENTERPISES WITH MODERN COST MANAGEMENT ACCOUNTING MODEL Vu Thi Thao 545 556 570 581 591 603 626 640 652 663 673 IN TERNATIONAL CONFERENCE ON - CIFBA 2020 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 692 Thai Minh Hanh, Dao Thanh Binh, Nguyen Thuc Huong Giang DEBT EQUITY FINANCING CHOICE UNDER FINANCIAL CONSTRAINTS: DOES CORPORATE SOCIAL RESPONSIBILITY MATTER? Anh Ngo, Hong Duong, Thanh Nguyen, Zuobao (Eddie) Wei 10 725 ... Economics and Business IN TERNATIONAL CONFERENCE ON - CIFBA 2020 ACKNOWLEDGEMENT OF SPONSORS University of Economics and Business (UEB-VNU) gratefully acknowledges the following organizations... organizations for their generous financial and in-kind contributions received in support of the CIFBA International Conference in 2020 National Foundation for Science and Technology Development (NAFOSTED)... Faculty of Finance and Banking University of Economics and Business - VNU IN TERNATIONAL CONFERENCE ON - CIFBA 2020 CONTENTS Page BOARD COMPOSITION AND RISK TAKING AFTER THE FINANCIAL CRISIS: