Massey Research Online - Browsing by Author "Ngo T"

Browsing by Author "Ngo T"

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A cross-country analysis on diversification, Sukuk investment, and the performance of Islamic banking systems under the COVID-19 pandemic
(Elsevier Ltd, 2022-03-18) Le TDQ; Ho TH; Nguyen DT; Ngo T
This study investigates the relationship between diversification and Islamic banking systems' performance under the impact of the COVID-19 turmoil using a sample of 24 countries from 2013Q4 and 2020Q4. The findings indicate that the performance of Islamic banking systems is positively associated with sectoral diversification of Shari'ah-compliant financing and income diversification. Although this study confirms a negative impact of the COVID-19 shock, income diversification is found to mitigate the adverse effect of this health crisis on the performance of the Islamic banking systems. In which, Sukuk investment is considered an essential channel for pursuing this diversification strategy. Therefore, this research has important implications for policymakers, managers, and academics.
A Dataset for the Vietnamese Banking System (2002–2021)
(MDPI (Basel, Switzerland), 2022-09) Le TDQ; Ho TH; Ngo T; Nguyen DT; Tran SH; Guijarro F
This data article describes a dataset that consists of key statistics on the activities of 45 Vietnamese banks (e.g., deposits, loans, assets, and labor productivity), operated during the 2002–2021 period, yielding a total of 644 bank-year observations. This is the first systematic compilation of data on the splits of state vs. private ownership, foreign vs. domestic banks, commercial vs. policy banks, and listed vs. nonlisted banks. Consequently, this arrives at a unique set of variables and indicators that allow us to capture the development and performance of the Vietnamese banking sector over time along many different dimensions. This can play an important role for financial analysts, researchers, and educators in banking efficiency and performance, risk and profit/revenue management, machine learning, and other fields. Dataset: https://doi.org/10.7910/DVN/RIWA3B Dataset License: CC0
Airfares data in New Zealand domestic aviation market
(MDPI (Basel, Switzerland), 2021-08-09) Ho TH; Nguyen DT; Ngo T; Le TDQ; Dray L
Price competition has been a growing concern of worldwide researchers and managers. In the aviation market, especially with the help from e-commerce platforms such as Expedia, TripAdvisor, and SkyScanner, airfares are now available to customers in the easiest and quickest way. It thus allows airlines to match their fares immediately and simultaneously upon any changes of their rivals, given that customer’ choices are made with regard to their incomes. This study provides a dataset on domestic airfares in New Zealand that could be useful for future studies in the fields of marketing, business and economics, transportation and aviation, or management. The dataset covers 12 trunk routes and 40 secondary routes in New Zealand from 19 September 2019 to 18 December 2019, a total of 90 days. It provides a rich dataset of more than 162,000 observations regarding the airfare, departure time, arrival time, flight duration, airline, departure airport, arrival airport, transiting airport, and so on. There are possibilities to extend the dataset (e.g., in terms of flying distance, airport characteristics, and airline characteristics) to make it be valuable for future study.
An MCDA composite index of bank stability using CAMELS ratios and shannon entropy
(Springer Science+Business Media, LLC, 2024-05-09) Boubaker S; Ngo T; Samitas A; Tripe D
This study uses the multi-criteria decision-analysis (MCDA) approach to construct a composite performance index (CPI) directly from the CAMELS financial ratios. The CPI has several promising characteristics, such as (i) being an absolute measure of performance that allows for adding or removing data without affecting the existing scores; (ii) employing CAMELS ratios directly in its calculation without the need for normalization or imputation of positive values; (iii) employing the dynamic weighting system of data envelopment analysis (DEA); (iv) providing more robust insights on the Vietnamese banking system under the Shannon entropy approach; and (v) can be an alternative measure of bank stability, compared to the CAMELS ratings and z-scores. Based on a rich dataset of 45 Vietnamese banks spanning from 2002 to 2020, our findings suggest that the proposed CPI could offer an overall view consistent with other approaches for measuring banking sector performance and stability and identifying specific strengths and weaknesses of banks.
Analysis of China’s Agri-food Imports In an Extended Gravity Model
Shakur S; Tang M; Ngo T
Since 2000, China has changed from a net exporter to a net importer of agri-food products to a point such that food security and agricultural trade balance are a major concern to Chinese authorities. This research estimated the effect of the ten explanatory variables that have impacted on China's accelerated food imports from 19 trading partners over 2000-2014. An extended gravity model that include economic, demographic, geographic factors and China's free trade agreements (FTAs) to 5 commodity groups separately, in addition to an aggregated data to allow a deeper understanding about the topic. Results from the research suggest that they all have varying but significant impacts on China’s agri-food imports. Agri-food imports to China are predicted to increase. For Chinese authorities to concentrate on own agricultural development and cost-effective trade with other
Aviation subsidy policy and regional wellbeing: Important indicators from relevant stakeholders’ perspectives
(Elsevier Ltd on behalf of the World Conference on Transport Research Society, 2024-06) Wu H; Lin Y-H; Ngo T; Tsui KWH
A failure to adequately reconcile stakeholder interests and opinions can increase the probability of a failed aviation subsidy request or a loss of regional opportunity. This study, instead of arguing the importance and offering critiques of aviation subsidies, conducts a survey of stakeholders in New Zealand and Taiwan and uses fuzzy analytic hierarchy process to evaluate and prioritise key air transport activities and regional wellbeing indicators regarding the design and implementation of aviation subsidy policies in the early stage of the COVID-19 pandemic. The findings show that destination served, flight frequency, local business activities, medical treatment, and rapid hazard response were considered the key factors of aviation subsidies. Integrating economic and social wellbeing into subsidy policy design and implementation is highly necessary. The results provide useful insights for the development of aviation subsidy policies aimed at improving regional wellbeing in New Zealand and Taiwan during the post-COVID-19 era.
Climate risk disclosures and global sustainability initiatives: A conceptual analysis and agenda for future research
(ERP Environment and John Wiley and Sons Ltd, 2023-09-11) Ngo T; Le T; Ullah S; Trinh HH
Climate change impacts, risks and sustainability disclosures have attracted increasing attention from scholars in various streams of the economics and finance literature towards achieving the UN's Sustainable Development Goals (SDGs). Within the stream of climate finance, the global initiatives for corporate social responsibility (CSR) and environment, social and governance (ESG) practices have had important roles in leveraging firms to become more actively involved in environment-related disclosure, in which climate risk reporting is central to evaluating whether and to what extent a firm and its operations are friendly to the environment. Along with the growth of the UN Principles for Responsible Investing in 2005, one of the most recent global initiatives that has been formed is the Taskforce on Climate-Related Financial Disclosures (TCFD), which has considered the climate-related financial disclosure recommendations of G20 finance ministers. Given that TCFD recommendations have recently been released for a broad domain of players (such as banks, investors, insurers and governments) in various countries (e.g., New Zealand, the United States and Japan), we surveyed the most recent studies on the TCFD by using a conceptual framework for climate-related disclosures focusing on studies published worldwide. On the basis of a thorough review, we highlight the essential functions of financial markets and also provide the critical implications for different market players ranging from providers to supporters of the TCFD. Our study offers a timely conceptual review of the TCFD which is critical for stimulating sustainable investments, climate finance and enhanced corporate reporting.
Digital Credit and Its Determinants: A Global Perspective
(MDPI (Basel, Switzerland), 2023-12) Le TDQ; Ngo T; Nguyen DT; Ftiti Z
Digital credit has gained much attention from academic researchers, practitioners, and policymakers worldwide. This study empirically evaluates the determinants of digital credit using cross-country data from 2013 to 2019. The conventional ordinary least square regression with fixed effects estimator is used to investigate the factors affecting the growth of digital credit. Our study highlights that the regulatory frameworks of anti-money laundering and terrorist financing, the economy’s innovative capacity, and financial development are significant factors affecting the development of digital credit, especially fintech credit. However, the findings indicate that only the innovation capacity is more critical to the expansion of bigtech credit. Nonetheless, our results provide some important implications for market participants and the authorities in promoting digital credit. Accordingly, this study contributes to the literature on the growth of digital credit when considering the critical roles of money laundering and terrorist financing frameworks and innovation capacity.
Efficiency in Vietnamese banking: A meta-regression analysis approach
(MDPI (Basel, Switzerland), 2021-09) Ho TH; Nguyen DT; Ngo T; Le TDQ; Balvers R; Boubaker S
This study explains the differences and variances in the efficiency scores of the Vietnamese banking sector retrieved from 27 studies published in refereed academic journals under the frame-work of meta-regression analysis. These scores are mainly based on frontier efficiency measurements, which essentially are Data Envelopment Analysis (DEA) and Stochastic Frontier Analysis (SFA) for Vietnamese banks over the period of 2007–2019. The meta-regression is estimated by using truncated regression to obtain bias-corrected scores. Our findings suggest that only the year of publication is positively correlated with efficiency, whilst the opposite is true for the data type, and sample size.
Efficiency of the Islamic Banking Sector: Evidence from Two-Stage DEA Double Frontiers Analysis
(MDPI (Basel, Switzerland), 2023-03) Mai XTT; Nguyen HTN; Ngo T; Le TDQ; Nguyen LP; Ftiti Z
This paper examines the multi-dimensional efficiency of the Islamic banking sector and its determinants, including the impacts of the COVID-19 pandemic. To do that, we use a novel approach of two-stage data envelopment analysis (DEA) double frontiers to evaluate the overall efficiency of 79 Islamic banks across 16 countries (2005–2020). In the first-stage analysis, we found that the Islamic banking sector experienced an increasing trend in its efficiency and performance, even during the recent pandemic, although it varied across banks and countries. Our empirical results of the second-stage analysis further showed that economic development can help countries both withstand the recent pandemic and improve the efficiency and performance of their (Islamic) banking system. This, in turn, could help speed up the recovery process of the global economy. Since there is evidence that the Islamic banking sector is resilient to the COVID-19 pandemic, it is expected that this sector will be a driving force of such recovery.
Estimating the productivity of US agriculture: The Fisher total factor productivity index for time series data with unknown prices
(John Wiley and Sons Australia, Ltd on behalf of Australasian Agricultural and Resource Economics Society Inc., 2024-05-10) Ngo T; Tripe D; Nguyen DK
In this paper, we propose a straightforward way to estimate the Fisher ideal total factor productivity (TFP) index (FI) in cases where price information is unavailable, using ‘shadow prices’ derived from data envelopment analysis (DEA). A Monte Carlo experiment shows that the shadow price Fisher ideal TFP index (SPFI) can effectively estimate the ‘true’ FI with relatively small (and stable) errors. The empirical application to the US agriculture sector (1948–2017) further suggests that the SPFI is a (superior) alternative to the traditional Malmquist DEA, especially in dealing with unbalanced panel or time series data when price data are unknown.
Examining the bidirectional nexus between financial development and green growth: International evidence through the roles of human capital and education expenditure
(Elsevier Ltd, 2022-12) Ngo T; Trinh HH; Haouas I; Ullah S
In the context of the 2030 Agenda for Sustainable Development by the United Nations, the functionality of financial development is undeniable in the wider economy toward Sustainable Development Goals (SDGs). Using novel panel data of 36 countries over the last decades, the study sheds light on the bi-directional nexus between financial development and green growth where human capital and education expenditure present their central roles in sustainable development. The study provides critical findings to the existing literature on climate change, environment, and sustainability. Following the empirical findings, we provide important insights to regulators, policy makers, and organizations in investigating the substantial contributions of financial development including financial markets and financial institutions where their accessibility, depth, and efficiency need a thorough consideration toward SDGs and mitigating climate change impacts worldwide. Apart from using the multidimensional proxies, the empirical findings are validated by a set of econometric approaches.
Fintech Credit and Bank Efficiency: International Evidence
(MDPI (Basel, Switzerland), 2021-08-17) Le TDQ; Ho TH; Nguyen DT; Ngo T; Boubaker S
The expansion of fintech credit around the world is challenging the global banking system. This study investigates the interrelationships between the development of fintech credit and the efficiency of banking systems in 80 countries from 2013 to 2017. The findings indicate a two-way relationship between them. More specifically, a negative relationship between bank efficiency and fintech credit implies that fintech credit is more developed in countries with less efficient banking systems. Meanwhile, a positive impact of fintech credit on the efficiency of banking systems suggests that fintech credit may serve as a wake-up call to the banking system. Therefore, fintech credit should be encouraged by the authorities around the world.
From Efficiency Analyses to Policy Implications: a Multilevel Hierarchical Linear Model Approach
(Taylor and Francis Group, 2021-09-25) Dao TTT; Mai XTT; Ngo T; Le T; Ho H
This paper examines the key factors that influenced the cost efficiency of 7,633 Vietnamese manufacturing firms during 2010–2016 via a hierarchical linear modelling (HLM) approach. The main reason for using HLM in this case is that observations in the same group may not be independent from each other (e.g. firms operate within the same city), and some variables may not vary across those observations. Although most of the findings are consistent with previous studies, the statistical power of our HLM model is higher than that of the traditional single-level analysis, suggesting that HLM can provide better analytical insights. The results further indicate a case for cities or provinces pursuing different policies aimed at improving the performance of their local firms.
Government intervention and stock price returns during covid-19 pandemic: evidence from an emerging market
(Taylor and Francis Group, 2024-07-10) Le TDQ; Nguyen DT; Ho TH; Ngo T
As the impact of the COVID-19 pandemic on the stock market returns has received much attention from researchers and practitioners, the evidence on the government invention on stock market returns in frontier markets in the Asia-Pacific is very scanty. This study first revisits the relationship between COVID-19 and stock market returns using large data from 23/01/2020 to 28/05/2021. Second, this study examines how the Vietnamese stock market reacts to government actions during the COVID-19 outbreaks. Using the fixed effects model, the findings show stock market returns are negatively affected by the COVID-19 pandemic. Although most sectors face a sharp decline in returns, positive returns are found in some sectors such as Energy, Healthcare, and Utilities, which is the opportunities for investors amid the pandemic. When observing the effect of government intervention, the stock market reacts to it negatively. The same is true for the announcements of social distancing and economic support measures. However, the stock market responds to containment and health measures with positive returns. More importantly, social distancing policy measures further enlarge the negative impact of COVID-19 on stock market returns–thus the government should take these measures with caution. The results also emphasize that economic support policy measures benefit indirectly via the channel of decreasing new infections. As a whole, the study offers some suggestions for the best and most proactive policy actions that governments, market participants, and investors in other emerging markets with similar financial institutions to Vietnam’s should use in the event of exogenous shocks like the COVID-19.
House prices, airport location proximity, air traffic volume and the COVID-19 effect
(Taylor and Francis Group on behalf of the Regional Studies Association, 2023-04-12) Ngo T; Squires G; McCord M; Lo D
Although house prices and airports are influenced by distinct factors that shape their evolutions, they are also intrinsically connected through the natural and built environment. Standard theory suggests that air-traffic noise and proximity to key economic hubs such as airports are of prime importance to house prices and the housing market. This study contributes to understanding the link between the housing market, airport location proximity and air traffic. The research investigates this association across four key urban areas within New Zealand proximal to an international airport: Auckland, Wellington, Christchurch and Queenstown. Applying a generalized least squares (GLS) regression approach, the analysis reveals that house prices, air-traffic activity and proximity to airports within New Zealand demonstrate a statistically significant effect, and that air traffic volume has a positive effect on house prices. Moreover, the findings reveal a ‘U’-shape relationship between distance to the airport and house prices, suggesting that airport noise and pollution adversely affect house prices, with this effect diminishing with distance, indicating that economic influences and employment may also serve as a positive externality.
ICT as a Key Determinant of Efficiency: A Bootstrap-Censored Quantile Regression (BCQR) Analysis for Vietnamese Banks
(MDPI (Basel, Switzerland), 2022-06-16) Le TDQ; Ngo T; Ho TH; Nguyen DT; Boubaker S
There is evidence that ICT developments can improve bank efficiency and performance. Previous studies often employ data envelopment analysis (DEA) to first examine bank performance and then use a second-stage regression to explain the influences of other environmental factors, including ICT, on such efficiency. Since DEA efficiency scores are bounded between the (0, 1] intervals, Tobit and truncated regressions are commonly used in this stage. However, none has accounted for the skewness characteristic of DEA efficiency. This paper applied a bootstrap-censored quantile regression (BCQR) approach to triply account for the issues of a small sample (via bootstrap), bounded intervals (via censored regression), and skewness (via quantile regression) in DEA analysis. We empirically examined the efficiency and performance of 27 Vietnamese commercial banks in the 2007–2019 period. The efficiency scores derived from our first stage revealed that they are skewed and thus, justify the use of the BCQR in the second stage. The BCQR results further confirmed that ICT developments could enhance bank efficiency, which supports the recent policy to restructure the Vietnamese banking sector toward innovation and digitalization. We also examined the impacts of other factors such as bank ownership, credit risk, and bank size on efficiency.
Intellectual capital–bank efficiency nexus: evidence from an emerging market
(Cogent OA, 2022-10-03) Le TDQ; Ho TNT; Nguyen DT; Ngo T; McMillan D
This paper investigates the effect of intellectual capital (IC) and its components on the efficiency of Vietnamese commercial banks from 2007 to 2019 using the two-step Data Envelopment Analysis approach. Banks’ efficiency scores are firstly estimated, while the relationship between IC and bank efficiency is examined in the second stage. The results indicate a positive relationship between IC and banks’ pure technical efficiency, allocative efficiency, and total cost efficiency. When observing the effect of IC decompositions, the findings show that only human capital enhances all types of bank efficiency. Furthermore, bank size and liquidity risk are significant drivers of Vietnamese bank efficiency. Therefore, our findings suggest that bank managers should focus on intellectual capital, particularly human capital, to strengthen bank efficiency further.
Managing bank performance under COVID-19: A novel inverse DEA efficiency approach
(John Wiley and Sons Ltd on behalf of International Federation of Operational Research Societies, 2023-09) Boubaker S; Le TDQ; Ngo T
The evolution of the COVID-19 pandemic is highly unpredictable; however, its impacts are limited to neither a single sector nor a single country. This study evaluates the performance and efficiency of 49 Islamic banks across 10 countries during 2019-2020 to assess how those banks can preserve their performance and remain resilient in the aftermath of the COVID-19 pandemic. Using the conventional inverse data envelopment analysis (InvDEA) approach, we show that because of reductions in their outputs, 31 out of the 49 banks studied would need to reduce their inputs so that their efficiency can remain unchanged. However, we show that only 10 banks need to make such adjustments to maintain their efficiency levels using our proposed InvDEA efficiency model. The adjustment for those 10 banks would help in reducing more inputs, suggesting more cost savings, and improving the overall efficiency of the examined banks, compared with the other 31 banks.
Operational Efficiency of Bank Loans and Deposits: A Case Study of Vietnamese Banking System
(MDPI (Basel, Switzerland), 2018-03) Nguyen T; Tripe D; Ngo T
This paper examines whether there is a causal relationship between bank loans and deposits in the Vietnamese banking system and the efficiency of the use of loans and deposits by the Vietnamese banks. In a country such as Vietnam, where inter-bank money markets are relatively underdeveloped, one would expect a reasonably strong relationship between deposits and loans. A pooled cross-sectional sample of financial ratios is collected from annual reports of 44 Vietnamese banks covering the period 2008–2015. The explanatory power of instrumental variables in relation to the endogenous variables is tested. A deterministic frontier model based on corrected ordinary least squares, estimated by three-stage least squares on a simultaneous equations model, is employed to derive the frontiers for the sampled banks as well as to estimate the causality between bank loans and deposits. Our findings suggest that, in an underdeveloped banking system such as Vietnam, bank deposits have a positive and significant impact on bank loans, but the reverse relationship is not significant. It is further suggested that in deposit-taking and loan-creating activities, Vietnamese banks performed moderately well over the period examined; however, in the near future, they should start to focus more on deposit-taking activities.

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