Journal of Economic – Law and Banking

Developing an Undergraduate training Program oriented toward employment at the Central Bank: Experience from the University of Applied Sciences of the Deutsche Bundesbank

2026-01-29T02:00:50+07:00

Developing an undergraduate training Program oriented toward employment at the Central Bank is a strategic step to ensure that the central bank has a high-quality, highly specialized workforce capable of meeting the increasingly stringent demands of a modern and integrated economy. Using methods of analysis, synthesis, and comparison, this article summarizes the experience of the University of Applied Sciences of the Deutsche Bundesbank in designing undergraduate programs that prepare students to work at three institutions: the Deutsche Bundesbank, the Federal Financial Supervisory Authority and the Bank of Namibia. Based on these experiences, the article proposes lessons for Viet Nam, including: establishing a dual-education model; applying modern, learner-centered teaching methods; forming close partnerships with the State Bank of Vietnam to co-design curricula; implementing quality assurance mechanisms based on practical competencies; and enhancing financial support and international learning opportunities.

Monetary policy in responses to economic uncertainties: Evidence from the State Bank of Vietnam

2026-01-29T02:08:05+07:00

The paper aims at analyzing and evaluating policy measures carried out by the State Bank of Vietnam in response to economic uncertainties. Using document analysis and descriptive statistical methods with data in the period 2021- 2025, focusing on 2025, the paper assesses both the achievements and limitations in the monetary policy management of the State Bank of Vietnam, including the management of interest rates, credit activities, exchange rates, and the gold market. Based on these assessments, the research has proposed recommendations to further enhance the effectiveness of monetary policy management, such as the State Bank of Viietnam should continue to proactively monitor macroeconomic changes both internationally and domestically to have timely and flexible adjustments; focuse on stabilizing lending interest rates; control credit growth at reasonable levels; and integrate multiple solutions in controlling gold market.

Gold market management in Viet Nam: Lessons from China and the Shanghai Gold Exchange model

2026-01-29T02:12:15+07:00

Following Decree No. 24/2012/ND-CP of the Government dated April 3, 2012, Vietnam’s gold market has been subject to tight regulation, yet has revealed someissues, including a lack of flexibility, persistent price gaps with the international market, and a constrained supply of gold bullion. In the context of Vietnam’s ongoing consideration of adjustments to its gold market management framework and the potential establishment of a gold exchange, this paper employs a secondary data analysis approach, synthesizing relevant legal documents, official reports, and academic studies to examine China’s experience in gold market management, with a particular focus on the Shanghai Gold Exchange model and the controlled gold import mechanism. Based on a comparison with Vietnam’s practical context, this study proposes four policy recommendations to promote a more transparent and efficient gold market in Vietnam while maintaining effective state risk control, including the establishment of a centralized physical gold exchange, reform of the gold import licensing mechanism, enhanced transparency of transaction data, and the standardization of gold bar quality.

The role of regulatory sandbox in innovating legal thinking for Fintech in Viet Nam

2026-01-29T02:33:34+07:00

The boom of financial technology (Fintech) in Viet Nam is posing many challenges to traditional legal frameworks, requiring a shift in the mindset of lawmaking. This study analyzes the role of the regulatory sandbox mechanism as a key instrument and catalyst for innovating legal thinking. Using the methods of legal analysis, comparison, and policy evaluation, the paper argues that the sandbox is a method for transforming the legal mindset from a “static” and “prohibitive” approach to a “dynamic” and “evidence-based” one. The research findings affirm that the effective implementation of the sandbox mechanism will help lawmakers gather practical data and understand new business models, thereby building a flexible legal corridor that encourages innovation and aligns with the digital economy.

The legal validity of the “irrevocable” clause in powers of attorney

2026-01-29T02:36:21+07:00

The use of the “irrevocable” clause in power of attorney contracts, particularly in real estate transactions, has raised complex legal consequences and conflicts with the principle of free will in civil law. Through an analysis of the legal structure of the agency relationship and judicial practice, this paper demonstrates that the unilateral right to terminate a contract is a statutory right that cannot be excluded by ordinary agreement. By applying methods of legal analysis, case law examination, and empirical observation from notarial practice, the study identifies the lawful limits of applying such a clause and proposes a mechanism for enhanced professional oversight of notaries. Consequently, the paper clarifies the boundary between individual autonomy and the necessity of safeguarding legal order in civil transactions, offering legislative recommendations to prevent evasive practices and the infringement of property rights under the guise of simulated authorizations.

Determinants of credit risk in Southeast Asian banks: Evidence from quantile regression

2026-01-29T02:38:45+07:00

This paper employs the Method of Moments Quantile Regression (MM-QR) and an unbalanced panel dataset of 185 banks from Southeast Asia over the period 2000- 2022 to examine the determinants of bank credit risk across different quantiles of the credit risk distribution. The empirical results indicate that, at the bank level, credit growth, bank size, equity ratio, operational efficiency, and liquidity contribute to lower credit risk, particularly for banks located at the upper tail of the credit risk distribution, whereas income diversification strategies are associated with higher credit risk. This implies that banks should exercise prudence in implementing diversification strategies, pursue credit growth in a selective manner, and strengthen their financial foundations. From a macroeconomic perspective, money supply (M2) growth and economic growth help mitigate credit risk, while inflation and the 2008 global financial crisis significantly exacerbate credit risk. These findings underscore the critical role of proactive, flexible, and well-coordinated monetary policy management, as well as timely and targeted policy interventions, in maintaining the safety and stability of the financial system.

Impacts of financial inclusion on household climate change adaptation in Ninh Binh province in Viet Nam

2026-01-29T02:41:18+07:00

Climate change exerts substantial impacts on the livelihoods of coastal households in Ninh Binh, Viet Nam, where economic activities are highly dependent on agriculture and fisheries. This study examines the impact of financial inclusion on households’ capacity to adapt to climate change, using survey data collected from 300 households residing in Giao Thuy, Hai Hau, and Nghia Hung (formerly part of Nam Dinh province, now within Ninh Binh) during the period from April 1 to May 30, 2025. Employing a combination of quantitative regression techniques, including Ordinary Least Squares (OLS) and Binary Logistic models, the findings indicate that financial inclusion enhances climate change adaptation through inclusive financial products such as concessional credit and microinsurance. The study further highlights the critical roles of state regulatory authorities, financial and banking institutions, and mass media in strengthening household climate resilience in the study area.

Assessing the determinants of bank financial stability in ASEAN: Evidence from a combined SGMM and ElasticNet framework

2026-01-29T02:53:52+07:00

This study investigates the determinants of bank financial stability in six ASEAN countries during the period 2010- 2023, a time characterized by heightened macroeconomic volatility and the disruptive effects of the COVID-19 pandemic. The primary objective is to identify key microeconomic and macroeconomic factors that significantly influence the stability of the banking system and to provide relevant policy recommendations that enhance financial resilience. The dataset comprises financial statements from 61 commercial banks, supplemented with macroeconomic indicators sourced from reputable institutions such as the World Bank and the IMF. Methodologically, the study employs the System Generalized Method of Moments (SGMM) to address endogeneity and dynamic panel bias, while integrating the ElasticNet approach to optimize variable selection and mitigate multicollinearity. Empirical findings reveal that equity capital, return on equity (ROE), financial leverage, and technological innovation exert a positive impact on bank stability, whereas bank size, GDP growth, inflation, and the COVID-19 pandemic pose significant negative effects. The combined application of SGMM and ElasticNet not only improves model robustness but also provides methodological value for modern empirical banking research. The study offers important policy implications, including the need to strengthen capital structures, promote technological investment, and develop adaptive regulatory frameworks to foster long-term financial stability in emerging ASEAN economies.

Impact of oil price shocks on the Viet Nam stock market

2026-01-29T02:56:22+07:00

This study investigates the impacts of three types of oil price shocks- supply, demand, and risk- on Vietnam’s stock market through the VN-Index during 2018-2025. Employing the Wavelet Local Correlation (WLC) method, the analysis captures time- and frequency-varying relationships, highlighting the nonlinear and heterogeneous effects of oil shocks. The findings reveal that supply and demand shocks can exert positive influences during periods of economic recovery but turn negative under crises or geopolitical tensions. In contrast, oil-specific risk shocks predominantly generate persistent negative impacts on the VN-Index, although short-term positive effects occasionally emerge. These results provide important implications: investors should differentiate between the sources of oil shocks when designing portfolio risk management strategies, while policymakers should closely monitor the underlying causes of oil price volatility to effectively adjust macroeconomic instruments. Moreover, the study confirms the effectiveness of the WLC approach in analyzing emerging markets, which are characterized by high volatility and strong dependence on global factors.

The impact of internal factors on the bankruptcy risk of enterprises listed on the Ho Chi Minh city stock exchange

2026-01-29T03:02:16+07:00

This study focuses on evaluating the impact of internal factors on the bankruptcy risk of enterprises listed on the Vietnamese Stock Market. The research data collected comprises 350 non-financial enterprises listed on the Vietnamese Stock Market in 2023. Using logit regression and OLS regression methods, the study clarifies the impact of internal factors on enterprises' bankruptcy risk, especially in the post-COVID-19 context- a period when many enterprises faced significant financial pressure due to high interest expenses, declining cash flow, and contracting consumer demand. The study not only provides a practical insight into the current financial situation of enterprises but also contributes to the research gap regarding internal factors affecting enterprise viability in the Vietnamese market. Based on the analysis results, the study proposes several solutions to help enterprises mitigate bankruptcy risk, including: strengthening equity to improve financial autonomy; limiting the expansion of high-risk projects or over-reliance on financial leverage; and optimizing costs and efficiently utilizing assets to increase profitability.

The relationship between management accounting practice and operational efficiency through supply chain management

2026-01-29T03:05:03+07:00

The purpose of this study is to examine the impact of management accounting practice (MAP) on enterprise’s operational efficiency (EOE) and supply chain’s operational efficiency (SCOE) through the mediating variable of supply chain management (SCM). The study surveyed 128 chief accountants at medium and large-sized enterprises from January 2025 to March 2025. The results of the study indicate that MAP has both direct and indirect positive impacts on EOE through SCM. Meanwhile, MAP only has indirect positive impacts on SCOE with the intermediate role of SCM. From the research results, the study makes a number of recommendations to increase the performance of enterprises and the entire supply chain. For educational institutions, it is necessary to improve MAP knowledge in the supply chain. For enterprises, it is necessary to improve management accounting techniques used in SCM and promote information sharing among members in the supply chain. For policy makers, it is necessary to develop mechanisms and policies that encourage enterprises to easily access and apply MAP combined with SCM.

Mechanisms underlying proactive work behavior: The roles of employee experience and adaptive performance at Vietnam Steel Corporation

2026-01-29T03:06:39+07:00

In heavy industrial enterprises, employees’ proactive work behavior is increasingly regarded as a critical resource for sustaining organizational effectiveness and adaptability under pressures arising from market volatility, safety requirements, and operational performance demands. This study aims to examine the mechanism through which proactive work behavior is formed among employees at Vietnam Steel Corporation, with a particular focus on the mediating roles of employee experience and adaptive performance. Building on this framework, the study tests the effects of organizational environment factors, including growth opportunities, fairness and support, and culture openness, on employee experience. Survey data were collected from 459 employees and analyzed using partial least squares structural equation modeling (PLS-SEM). The results indicate that adaptive performance exerts the strongest positive effect on proactive work behavior and serves as an important mediating mechanism linking employee experience to proactive behavior. In addition, employee experience is positively influenced by organizational environment factors, among which fairness and support demonstrate the greatest effect. These findings contribute to a clearer understanding of the mechanisms that promote proactive work behavior in heavy industrial contexts and provide a scientific basis for the development of appropriate human resource management policies.

A study on the influence of perceived effectiveness of audit training and personal characteristics on the professional skepticism of auditing students at Thuyloi University

2026-01-29T03:08:04+07:00

This study explores the relationship between perceptions of audit training effectiveness, personal characteristics, and the professional skepticism of auditing students at Thuyloi University (TLU). Professional skepticism is a crucial factor that helps auditors identify risks and enhance audit quality. The research employs a mixed-methods approach, including a qualitative phase involving in-depth expert interviews to identify influencing factors and develop the survey instrument, and a quantitative phase surveying 203 third and fourth-year TLU students (February 2025) to test the relationships between these factors. The results indicate that both factors have a positive correlation with the professional skepticism of auditing students, with personal characteristics demonstrating a more significant relationship. Through scale refinement and supplementary statistical tests, the study addresses limitations related to the self-reporting method and the high correlation between concepts. The research suggests that educational institutions should combine improvements in teaching programs with a focus on developing students' personal characteristics (such as critical thinking and meticulousness), thereby contributing to enhancing the quality of future audit human resources.

AI-Based fraud detection and consumer trust in Vietnamese E-commerce: The mediating role of AI perception

2026-01-29T03:10:23+07:00

This study explores the impact of AI fraud detection applications on AI perceptions and trust in e-commerce platforms, examining both positive aspects of AI perception (perceived usefulness, perceived ease of use) and negative aspects (privacy concerns, ethical concerns, immature technology). The measurement scales were adopted from previous studies and refined through qualitative research and a preliminary quantitative phase. The main quantitative study surveyed 420 Vietnamese consumers from February 2025 to August 2025. The findings show that 65.3% of the variance in e-commerce platform trust is explained by AI fraud detection applications and AI perceptions. The study confirms the crucial role of AI fraud detection in building trust through a dual impact mechanism: direct effect on trust and indirect effect through shaping AI perceptions. The findings provide managerial implications for e-commerce platforms to effectively implement AI fraud detection while balancing security and user experience.

The impact of TikTok on young people’s decision to choose dining locations in Ha Noi

2026-01-29T03:11:37+07:00

This study analyzes and evaluates the factors influencing young people’s decisions to choose dining locations in Hanoi through the TikTok platform, in the context of TikTok’s growing popularity as an effective tool for discovering food-related information. From March to June 2024, the research team conducted a survey with 391 respondents aged 18 to 25, collecting 362 valid responses. Data were processed using SPSS and SmartPLS 4. The results indicate that electronic word of mouth (eWOM) on TikTok exerts the strongest influence on dining location choices among young people in Hanoi, mediated by two factors: subjective norms and attitudes, with subjective norms playing a more dominant role. In addition, Technology Acceptance Model (TAM) variables, namely perceived ease of use and perceived usefulness, were found to positively affect user attitudes. These findings contribute to clarifying the impact of TikTok on food-related decision-making and provide practical implications for F&B businesses in leveraging eWOM and subjective norms to enhance outreach and influence the decisions of young customers.