Nguyen Tran Thai Ha’s research while affiliated with Van Lang University and other places

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Publications (29)


Exploring the Role of Institutional Quality, Trade Openness, and Financial Development in Driving the Real Exchange Rate: Evidence in Southeast Asia Countries
  • Article

April 2024

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54 Reads

MONTENEGRIN JOURNAL OF ECONOMICS

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Thi Thu Hong Dinh

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Ngoc Tho Tran

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Nguyen Tran Thai Ha

This research is focused on investigating the potential factors driving real exchange rates (RER), including institutional quality, trade openness, and financial development. Advanced analysis methods such as Dynamic Ordinary Least Square (DOLS), Fully Modified Ordinary Least Square (FMOLS), Generalized and Simultaneous Quantile Panel Regression (GSQPR), and Granger Causality have been applied to a balanced panel of nine Southeast Asian economies from 2002 to 2020. The empirical results suggest that an improvement in institutional quality leads to the appreciation of the domestic currency compared to foreign currency. Additionally, a high degree of trade openness is associated with the depreciation of the domestic currency , which may be due to fluctuations in capital influx from international trade. These findings are consistent across most RER quantile levels through GSQPR. However, the effect of financial development, as measured by the bank's credit to the private sector, on the domestic currency value is observed only at lower quantile levels of RER. Furthermore, the study finds unidirectional causality relationships running from the identified drivers to RER, using the Granger causality approach. Based on the findings, the research discusses theoretical and policy implications for Southeast Asian economies. Keywords: Real exchange rate, Southeast Asia countries, institutional quality, trade openness, financial development. JEL classification: F13 F31 F41


Sustainable environmental change mitigation technologies patents (%) for selected ASEAN economies.
Sustainable environmental change mitigation technologies patents (%) Worldwide.
CO2 emissions for selected ASEAN economies in metric tons per capita.
Measurements, abbreviations, and data source for the variables.
CSD outputs.

+6

Environmental outlook of ASEAN-5 through the lens of green bonds, environmental technologies and financialization
  • Article
  • Full-text available

March 2024

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62 Reads

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1 Citation

International Journal of Engineering Business Management

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[...]

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Nguyen Tran Thai Ha

Sustainable development goals call for urgent action with an aim to spur socio-economic growth along with the protection of the environment and resources. However, these goals are difficult to be achieved when finances are not mobilized to mitigate harmful resources. In return, numerous green bond manifestations appeared in the market, which are viewed as a bridge to have successful implementation of sustainable development goals. Therefore, the study is aimed to explore the relevance of green bonds, financialization, and sustainable environmental change mitigation technologies for environmental change in ASEAN economies. The initial outcomes confirm the long-run cointegration association between study variables and also explore the slope heterogeneity and cross-sectional dependencies. To explore the causal connections between the study variables, the current study employs CS-ARDL technique. The study finds significant contributions of sustainable environmental change mitigation technologies and green bonds in the reduction of pollution, hence improving climate quality. The short-run infers similar results with relatively lower magnitudes of coefficients as compared to the long-run. Negative error correction terms are used to confirm the stability of the model, which implies sustained convergence towards “steady-state equilibrium” in case of expected deviations. The results offer practical implications and recommendations.

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The Impact of green finance, eco-innovation, renewable energy and carbon taxes on CO2 emissions in BRICS countries: Evidence from CS ARDL estimation

August 2023

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111 Reads

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62 Citations

Geoscience Frontiers

A sharp increase in economic and human development has multiplied the carbon intensity due to which there is a significant need of effective strategies in order to curb carbon emissions. Thus, the present study aims to examine the effective of green finance, eco-innovation, renewable energy output (REO), renewable energy consumption (REC), and carbon taxes on carbon dioxide (CO2) emissions in BRICS countries in the time of 2001–2020. Cross-sectional autoregressive distributed lag (CS ARDL) is used to test the connection among the variables. Empirical estimations of CS-ARDL approach validates the effectiveness of green finance, eco-innovation, REO, REC, carbon taxes, and industrialization as the relationship of these factors with carbon emissions is negative in nature in BRICS economies. Based on the evidences, the study recommends the formulation of environmentally friendly practices and advancement in green finances to mitigate carbon emissions


INVESTMENT & ECONOMIC GROWTH: A NEXUS BETWEEN DOMESTIC INVESTMENT AND FOREIGN DIRECT INVESTMENT IN VIETNAM

December 2022

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409 Reads

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5 Citations

International Journal of Economics and Finance Studies

In the context of the Vietnamese economy, this research examines the effect of investment on long- and short-term economic growth. The study utilized numerous techniques to evaluate the association, including Granger causality, Johansen cointegration, and Vector Error Correction Model (VECM). Financial data from the World Bank and the General Statistics Office are used to compile data from 2000 to 2019. According to empirical evidence, domestic and foreign direct investment positively impact long-term economic growth. However, foreign direct investment has short-term crowding-out consequences before the emergence of economic spillover effects. Meanwhile, domestic investment plays a crucial role in both the short- and long-term promotion of economic growth. Our research indicates that investment activities should be concentrated, but foreign direct investment should only play a supporting role for capital and technology; meanwhile, the government is encouraged to promote domestic investment development by implementing regulations.


Scale reliability test results
EFA results for the independent variables
EFA results for the dependent variable
Regression results
Organizational Culture Factors Affect Employees’ Organizational Commitment: A Research in Ho Chi Minh City Logistics Enterprises, Vietnam

September 2022

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187 Reads

Jurnal Manajemen Bisnis

Research aims: The research aims to evaluate several factors of organizational culture affecting the organizational commitment of employees in logistics enterprises in Ho Chi Minh City (Vietnam).Design/Methodology/Approach: The data were collected based on a survey of respondents who were employees working at logistics enterprises in Ho Chi Minh City. The collected data, consisting of 227 survey questionnaires, were described through statistical analysis, checking Cronbach’s Alpha reliability assessment, employing Exploratory Factor Analysis (EFA), and testing the fit of the research model. Research findings: The results showcased that five components had a statistically significant impact on an employee’s organizational commitment, including (from high to low impact in order) consistency in governance policy, communication within the organization, training and development, rewards and recognition, and teamwork.Theoretical contribution/Originality: The study contributes to and supplements the array of organizational culture topics related to the commitment of employees at companies.Practitioner/Policy implication: The research contributes to the logistics companies' understanding of how to improve the organizational culture to maintain the loyalty of employees in the organization.Research limitation/Implication: The research limitation is that only Ho Chi Minh City logistics enterprises were chosen for the survey. However, there are many cities in Vietnam where logistics companies are located. Thus, the other research can be implemented in other regions in Vietnam and other countries for future studies.


The influence of market power on liquidity creation of commercial banks in Vietnam

August 2022

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182 Reads

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11 Citations

Journal of Asian Business and Economic Studies

Purpose This research examines the relationship between market power and liquidity creation in the specific context of bank profitability in the Vietnamese banking sector. Design/methodology/approach The study applies the methodology proposed by Berger and Bouwman (2009) to demonstrate the creation of bank liquidity through a three-step procedure for investigating the relationship between market power and liquidity creation. The three steps include non-fat liquidity (NFLC), fat liquidity (FLC) and system generalized method of moments estimation for panel data. Findings This study finds that liquidity creation increases when a bank has high market power. Further, highly profitable banks positively impact the market power of banks with regard to liquidity creation, relative to less profitable banks. Moreover, bank size, capital, economic growth and interest rate negatively influence bank liquidity creation, while credit risk positively relates to bank liquidity creation. Research limitations/implications Measurements used in this study are based on the works of Berger and Bouwman (2009). There are specific variations, relative to Basel III. In addition, other variables significantly impact bank liquidity creation that have not been considered in the models, and a quadratic model should have been considered to measure market power and bank liquidity creation. Practical implications This study suggests that managers should control the liquidity of their banks by supervising vulnerable characteristics that have been mentioned herein and emphasizing improvements in profitability. Further, the government may consider encouraging banks to generate more liquidity by modifying regulations concerned with market power or reinforcing policies about improving the transparent business environment. Originality/value This study characterizes an attempt to examine the influence of market power on the liquidity creation of banks in Vietnam, which represents one of the most dynamic systems in Asia, with several varied participating banks. The current study also examines the same within the specific context of the modifying impact of the profitability of banks.


Credit Risk and Financial Performance of Vietnamese Commercial Banks: During and After the Financial Crisis

June 2022

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66 Reads

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6 Citations

VNU JOURNAL OF ECONOMICS AND BUSINESS

This study examines the influence of credit risk on the financial performance of commercial banks, as measured by the bad debt ratio and the credit risk provision ratio, with and without the participation of macro factors. This study also investigates the effect of the financial crisis on these relationships. Estimates of the generalized two-step systems method (GMM) are used with financial data of 24 commercial banks in Vietnam for the period 2008-2017. The results find that the credit risk of banks has a negative impact on financial performance. Surprisingly, the bad debt ratio is found to enhance the financial performance of commercial banks, while the ratio of provision for credit losses keeps dragging down financial performance significantly during the financial crisis years.


Credit Risk and Financial Performance of Vietnamese Commercial Banks: During and After the Financial Crisis

June 2022

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26 Reads

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1 Citation

VNU JOURNAL OF ECONOMICS AND BUSINESS

This study examines the influence of credit risk on the financial performance of commercial banks, as measured by the bad debt ratio and the credit risk provision ratio, with and without the participation of macro factors. This study also investigates the effect of the financial crisis on these relationships. Estimates of the generalized two-step systems method (GMM) are used with financial data of 24 commercial banks in Vietnam for the period 2008-2017. The results find that the credit risk of banks has a negative impact on financial performance. Surprisingly, the bad debt ratio is found to enhance the financial performance of commercial banks, while the ratio of provision for credit losses keeps dragging down financial performance significantly during the financial crisis years.


Figure 3 The Transmission Mechanism of Sharia Monetary Policy Financing Line (Source: Results of Granger Causality Test, Processed)
Stationary Test Result
Optimum Lag Test Results
Johansen Cointegration Test Results
The Effect of Monetary Instrument of Islamic Banking Financing Channel Towards The Economic Growth in Indonesia

April 2022

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50 Reads

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3 Citations

Jurnal Ekonomi & Studi Pembangunan

Monetary policy is closely related to activities to achieve economic growth, which eventually gives welfare to the community. This study aims to analyze the description of the transmission flow of financing channels, the effect of monetary policy instruments, and their effectiveness to achieve economic growth. The variables used are Islamic Banking Finance (FIN), return of Sharia Bank Indonesia Certificate (SBIS), return of PUAS, and Industrial Production Index (IPI). This study used Vector Error Correction Model (VECM) to determine short- and long-term relationships using the time series data. First, the result of the study showed that the transmission flow could not be identified clearly, because the flow stopped in FIN, and it could not affect IPI, according to the Granger Causality test. Second, the result of VECM estimation showed that all variables only affected long term period and did not affect the short-term period. Third, monetary policy transmission of Islamic banking financing channel was not effective enough, which was proven with the result of IRF simulation, which showed that the effect of shock on financing channel variable (FIN) towards IPI was subsided and stable in the 10th period later. Meanwhile, the result of the FEVD simulation showed that the financing channel variable (FIN) only gave a contribution of as much as 0.14 percent towards IPI. The contribution and policy implications are also discussed in this study.


Descriptive Statistics of Variables
Panel Data Regression for Fixed Effects Model (FEM) and Random Effects Model (REM)
Results of Hausman Test
Results of Breusch and Pagan Lagrangian Test
Good Governance and Sustainable Investment: The Effects of Governance Indicators on Stock Market Returns

March 2022

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615 Reads

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27 Citations

Advances in Decision Sciences

Purpose: This research studies the impacts of the six Worldwide Governance Indicators (WGI) on sustainable investment returns in the Asian region. Design/methodology/approach: This research uses the WGI data as proxied of good governance and employs The Fixed Effect Model (FEM) and Random Effect Model (REM) on the panel data from the sustainable stock market returns of six Asian countries to examine the relationship among variables. Further, the Feasible Generalized Least Squares (FGLS) Regression panel regression was conducted to achieve robust findings. Findings: Our empirical analysis found that political stability and absence of violence (PSA) and regulatory quality (REQ) positively influence sustainable investment returns in the Asian region. While control of corruption (COC) exhibits a significant negative impact on sustainable investment returns. These findings imply that more excellent political stability and reasonable regulations contribute to higher stock market returns. Conversely, contradictory with the Control of Corruption leads to downward stock market returns as the growth of the COC index increases. Research limitations/implications: This research has several limitations, including the lack of comprehensive sustainable stock market data in the Asian region and a short transaction period. Consequently, future research could categorize the market as developed or emerging, classify the sample based on the efficient market category, expand the sample size and include data from outside the Asian region. Practical implications: This research has several crucial policy implications for sustainable investors concerning the country-level governance index to create profitable and sustainable portfolio strategies. Moreover, policymakers should strengthen the implementation of anticorruption to increase the sustainable investors in the Asian region. Originality/value: This research contributes to the recent literature presenting causal relations of quality country-level governance on sustainable investment returns in the Asian region. JEL Classifications: C33; E44; G15; O16 Keywords: Sustainable Investment; Market Returns; World Governance Indicators; Asian Market; FGLS


Citations (24)


... Since these countries remain committed to integrating more renewables into their energy grids, further carbon emission reductions are bound to be recorded; consequently, they will contribute toward the mitigation of global climate change [73]. Furthermore, the negative relationship between renewable energy and carbon emissions has been shown by other research [74][75][76][77]. ...

Reference:

Econometric Analysis of BRICS Countries' Activities in 1990-2022: Seeking Evidence of Sustainability
The Impact of green finance, eco-innovation, renewable energy and carbon taxes on CO2 emissions in BRICS countries: Evidence from CS ARDL estimation
  • Citing Article
  • August 2023

Geoscience Frontiers

... Apart from the mortality rate, the other control variables help to explain the overall growth dynamics in SSA. Referring to our GMM specification, we find that the low level of investment would be detrimental to SSA countries, a result widely debated in recent empirical analysis (Shabbir et al. 2021;Manh et al. 2022). As for the variables related to openness (terms of trade and trade openness), our results validate the thesis of a positive association. ...

INVESTMENT & ECONOMIC GROWTH: A NEXUS BETWEEN DOMESTIC INVESTMENT AND FOREIGN DIRECT INVESTMENT IN VIETNAM

International Journal of Economics and Finance Studies

... Credit risk showed an insignificant negative effect on return on assets and this is consistent with previous research (Kwashie et al., 2022;Nguyen & Nguyen, 2022;Saghir & Tabasam 2020). In addition, the results show that leverage has a significant negative relationship with return on assets, which aligns with the findings of Bunyaminu et al. (2021) and Dalci (2018). ...

Credit Risk and Financial Performance of Vietnamese Commercial Banks: During and After the Financial Crisis
  • Citing Article
  • June 2022

VNU JOURNAL OF ECONOMICS AND BUSINESS

... However, Boubakri and Guillaumin (2015) and Wu (2020) reported contrasting findings, presenting empirical evidence suggesting otherwise. More recently, Nguyen et al. (2022) identified evidence supporting co-integration relationships among Cambodia, Indonesia, the Philippines, Thailand, and Vietnam stock market indexes from 2009 to 2022. Nguyen and Elisabeta (2016) reported moderate integration between China and the ASEAN equity markets before and after a recent crisis, with higher integration observed during the crisis period. ...

The influence of market power on liquidity creation of commercial banks in Vietnam

Journal of Asian Business and Economic Studies

... ( LR) has a significantly negative relationship with( ROA and ROE). This relationship is consistent with (Nguyen, H., 2023). who pointed out that the more liquidity is maintained, the lesser the profitability level. ...

Credit Risk and Financial Performance of Vietnamese Commercial Banks: During and After the Financial Crisis
  • Citing Article
  • June 2022

VNU JOURNAL OF ECONOMICS AND BUSINESS

... The interest rate is one variable affecting inflation (Kurniawan et al., 2022). The interest rate is one of the main instruments for monetary policy conducted by central banks (Arintoko & Kadarwati, 2022;Johari et al., 2022). Sulistiana et al. (2017) found that the interest rate, proxied by the BI rate (interest rate targeted by the Indonesian central bank), is the most dominant factor that affects inflation. ...

The Effect of Monetary Instrument of Islamic Banking Financing Channel Towards The Economic Growth in Indonesia

Jurnal Ekonomi & Studi Pembangunan

... These indicators are voice and accountability, political stability and absence of violence, government effectiveness, regulatory quality, rule of law, and control of corruption. Using WGI data is common in fields such as investment (Darsono et al., 2022), political economics, government governance, and other related areas (Apaza, 2009). Geographical distance was measured as the distance between cities based on their latitude and longitude. ...

Good Governance and Sustainable Investment: The Effects of Governance Indicators on Stock Market Returns

Advances in Decision Sciences

... Firstly, the study employs regression methods on the panel data of non-financial firms listed on HSX during a five-year period. The consideration of extended time periods, two remaining stock exchanges in Vietnam (HNX and UPCoM), and the use of different analysis methods (e.g., fuzzy Delphi, SEM, or Fuzzy DEMATEL) as suggested by Tran and Nguyen (2021), Tseng et al. (2020), can help to produce more robust results. Secondly, although the study has examined the relation between different CSR activities and CFP, it only takes into account a single accountingbased indicator of CFP and two firm-specific control variables. ...

Revisiting the Nexus between Corporates' Environmental, Social, and Governance Responsibilities and Financial Performance: Proposing a Hybrid Approach
  • Citing Conference Paper
  • December 2021

... It indicates that if there is a unit change in the domestic investment there is 0.188 unit change in the growth of Latin America and revealing that domestic investment is very important determinant of growth of economy in long-term in Latin America. The conclusion of the study similar the results of Ha and Thuy (2021), Nguyen and Darsono (2022), Sohail and Li (2023), and Sun et al. (2023). Shabbir et al. (2021), Sunde (2023). ...

The Role of Investment to Economic Growth in Vietnam: A Nexus Between Domestic Investment and Foreign Direct Investment
  • Citing Conference Paper
  • March 2021

... Therefore, hypothesis 3 is put forward. Hypothesis 3: there is a positive correlation between equity checks and balances and financing efficiency, that is, Z index is negatively correlated with financing efficiency [15]. ...

Income Diversification and Financial Performance: The Mediating Effect of Banks’ Size, Ownership Structure, and the Financial Crisis in Vietnam
  • Citing Article
  • May 2021