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This paper investigates the spillover effect (backward, forward, and horizontal linkage) of foreign direct investment (FDI) firms on the technical efficiency of local firms. This research extends the literature by employing meta-frontier framework analysis which is superior to single stochastic analysis because each industry has a different combination of inputs (or dissimilar production technology). Using a large data set (178,700 firm-year observations), this paper finds evidence on the negative impact of the horizontal and forward linkages on the meta-technical inefficiency for the data set as a whole as well as in three economic regions, in private owned firms, and capital and labor-intensive sectors in Vietnam.

Over the last years the Vietnamese banking system has been struggling to restructure, reform governance, consolidate financial statements and build up merge and acquisition, in line with international standards. The Bank for International Settlements (BIS) proposed BASEL III in 2010, whereby banks must increase their minimum Capital Adequacy Ratios (CAR) year by year with a goal of 10.5% by 2019. The objective of this paper is to address the questions: (1) what are the optimal CAR levels for Vietnamese Commercial Banks (2) whether the minimum required CARs stipulated in the Basel II and III are reasonable for Vietnam banking system? The data set consists of a sample of Vietnamese commercial banks over the six-year period from 2010 to 2015. The optimal CARs of banks are calculated using the nonparametric two-stage Data Envelopment Analysis (DEA) model, with two inputs: fixed assets, employee expense and two outputs: interest income, non-interest income. The findings indicate that 92.4% of the banks have the optimal CAR higher than the minimum ratio 10.5% defined in BASEL III. Moreover, 57.98% of the banks should raise their current level of CAR to reach their optimal ones. To conclude, this paper will provide a guideline for Vietnamese banks to decide their optimal CAR to reach the efficiency frontier.

Refrigerator ownership accompanies socio-economic development, with the potential to change human diets. Household refrigerator ownership in Vietnam has increased from 13% to 59% between 2004-2014. This study estimates changes in food consumption and diet linkages with household refrigerator ownership in Vietnam, while controlling for socioeconomic variables. We use a two-step instrumental variable regression model on two panels of the Vietnam Household Living Standards Survey covering 2004-2014. Our study finds refrigerator ownership to be significantly associated with decreases in per-capita calorie intake over both periods. Refrigerator ownership may be connected with households substituting lower-nutrient foods with higher ones, with substantial decreases in starchy staple food consumption connected with refrigerator ownership in both panels. For both periods, refrigerator ownership is significantly connected with increased dairy consumption, potentially reflecting the refrigerator increasing a household's ability to store dairy products.

This study re-examines the relationship between women on corporate boards (WOCB) and corporate social performance (CSP) for a sample of companies from the Fortune 1000 ranking over the period 2004 to 2018 (ranked from 501 to 1000). To take into account the complex and non-linear relationship as well as endogeneity issues, we use a two-stage generalised additive model. This contribution is significant, as many authors have demonstrated the non-linearity of factors influencing performance, whether of a financial or social nature. Consistent with token and critical mass theories, our results shows that the effects of WOCB on CSP vary significantly depending on their numerical representation and that there are departures from linearity. Our findings provide explanations for the existing mixed empirical results, which all rely on parametric methods. As such, we suggest the use of semiparametric methods takin into account endogeneity issues to assess WOCB–CSP relationship. This study sheds some new light on that relationship, which remains a controversial issue.

Given the contrasting empirical results of the literature, the question of the influence of the presence of women on corporate boards of directors (WOCB) on the corporate social performance (CSP), we revisit this problem by developing a semi-parametric approach to capture the non-linear effects of this relationship. The results show that sociological diversity, organizational learning, and pluralistic regulation all play critical roles in CSP. Feminization of the Board successfully helps to the enrichment of its decision-making by increasing the total cognitive, knowledge, and skill diversity. Nonetheless, when a threshold value is achieved, the positive marginal impact of Board feminization on CSP declines while WOCB grows, implying a diminishing marginal utility.

The study aims at valuing mangrove ecosystem services in Xuan Thuy National Park, Red River Delta, Vietnam. A discrete choice experiment was employed to elicit household willingness to pay (WTP) for a community project to protect mangroves against climate change. A conditional logit model and a random parameter logit model were estimated to identify the relationships between WTP and the different attributes of the mangrove conservation project. The results suggested that local households exhibited strong preferences for mangrove coverage area and storm prevention capacity whereas biodiversity benefits were not greatly perceived by most respondents. High level of heterogeneity in household preferences was found for the high mangrove coverage, and high management level of biodiversity. Furthermore, marginal household WTPs were computed given a change in each attribute level. Hence, the findings will aid in the development of a comprehensive payment for mangrove preservation policy in Vietnam.

This paper estimates the impact of pollution abatement investments on the production technology of firms by pursuing two new directions. First, we take advantage of recent econometric developments in productivity, efficiency analysis and nonparametric kernel regression by adopting a conditional nonparametric frontier analysis. Second, we focus not only on the average effect but also search for potential nonlinearities. We provide new results suggesting that pollution abatement capital affects with a bell-shaped fashion technological catch-up (inefficiency distribution) and does not affect technological change (shifts in the frontier). These results have relevant implications both for modeling and for the purposes of advice on environmentally friendly policy.

Objective: The Caribbean has seen a dramatic shift in the obesity and chronic disease prevalence over the past decades, suggesting a nutrition transition. Simultaneously, Martinique has faced a demographic transition marked by significant population ageing. We aimed to differentiate the contribution of changes in health status and dietary intakes due to shifts in demographic and socio-economic characteristics (DSEC) from that due to unobserved factors. Design: Two cross-sectional surveys conducted in 2003 ( n 743) and 2013 ( n 573) on representative samples were used. Dietary intakes were estimated by 24-h recalls. The contribution of changes in health status and dietary intakes due to shifts in observed DSEC was differentiated from that due to unobserved factors over a 10-year interval, using Oaxaca–Blinder decomposition models. Setting: Martinique, French region in the Caribbean. Participants: Martinican adults (≥16 years). Results: Over the study period, health status deteriorated, partly owing to shifts in DSEC, explaining 62 % of the change in the prevalence of hypertension (+13 percentage points (pp)) and 48 % of waist circumference change (+3 cm). Diet quality decreased (mean adequacy ratio –2pp and mean excess ratio + 2 pp) and energy supplied by ultra-processed food increased (+4 pp). Shifts in DSEC marginally explained some changes in dietary intakes (e.g. increased diet quality), while the changes that remained unexplained were of opposite sign, with decreased diet quality, lower fruits, tubers and fish intakes and higher energy provided by ultra-processed foods. Conclusion: Explained dietary changes were of opposite sign to nutrition transition conceptual framework, probably because unobserved drivers are in play, such as food price trends or supermarkets spread.

The paper presents one of the first economic analyses of residents' choice of different coastal erosion control measures in a developing country - Vietnam. Hoi An, a UNESCO World Heritage Site, was selected given the frequency of coastal erosion events which have caused increasing damages to property, tourism activities and the livelihood of local people in an iconic tourist destination. We designed a discrete choice experiment based on responses from 399 households in order to estimate the willingness to pay (WTP) for differing coastal erosion control measures. Using the generalized multinomial logit model, empirical results yield five important findings. First, residents prefer wider, more public beaches having both trees and restaurants and are willing to accept visible structures such as groynes and stair revetment to prevent further erosion. Second, residents place a higher value on a beach that is protected by robust permanent structures. In particular, residents have the highest WTP for groynes. Third, there exists preference and scale heterogeneity across respondents which are driven by level of education, knowledge of the problem, and the stated level of choice certainty. Fourth, knowledge and experience of coastal erosion are shown to have a strong influence on the valuation residents place on the choice of protective structures. Finally, on average, a resident is willing to pay USD 1.7 per year for a coastal erosion management program that increases beach width by additional 50 meters, beach access by additional 25%, restaurants and trees on the beach and groynes as the erosion protection structure.

In the area of environmental analysis using hedonic price models, we investigate the performance of various nonparametric and semiparametric specifications. The proposed model specifications are made up of two parts: a linear component for house characteristics and a non-(semi)parametric component representing the nonlinear influence of environmental indicators on house prices. We adopt a general-to-specific search procedure, based on recent specification tests comparing the proposed specifications with a fully nonparametric benchmark model, to select the best model specification. An application of these semiparametric models to rural districts indicates that pollution resulting from intensive livestock farming has a significant nonlinear impact on house prices.