Browsing by Author "Le T"

Now showing 1 - 6 of 6

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.
Does market efficiency matter for Shanghai 50 ETF index options?
(Elsevier B V, 2024-01-01) Hoque A; Le T; Hasan M; Abedin MZ
This study aims to measure Shanghai 50 Exchange-Traded Fund (SSE 50 ETF) index options efficiency for trading in different periods of a trading day. We use an econometric model of put-call-parity to test the market efficiency for three moneyness situations: call at-the-money and put at-the-money, call in-the-money and put out-of-the-money, call out-of-the-money, and put in-the-money. The SSE 50 ETF index options market is efficient when both call and put options are at-the-money, leading to accurately-priced call and put options. The SSE 50 ETF index options market is inefficient if the call is in-the-money (out-of-the-money) and the put is out-of-the-money (in-the-money). Furthermore, call and put options are over-priced (under-priced) and under-priced (over-priced), respectively, when the inefficient SSE 50 ETF index options market. Traders can take a long or short position based on call-put option pricing to reduce hedging costs and increase speculative premiums.
Drivers of Merger and Acquisition Activities in Vietnam: Insights from Targets’ Perspectives and Deal Characteristics
(MDPI, 2025-03) Bui K; Le T; Ngo T
This study empirically examines the determinants of merger and acquisition (M&A) activities in Vietnam from 2005 to 2020, which has not been examined before, using a fixed-effects model for a sample of 674 completed M&A deals. The results indicate that targets’ corporate governance and deal characteristics have mixed effects on M&A decisions. More specifically, the independent member of the board and CEO duality of the target is negatively associated with most M&A types, except for cross-border mergers. However, the impact of targets’ blockholders is consistently positive regardless of M&A types. When observing the deal characteristics, mixed evidence is also found in the case of M&A payment form, industry-relatedness between the bidder and the target, the bidder’s stake in the target, and foreign ownership in the bidder’s stake. More interesting, our study emphasizes that voluntary agreement is seemingly critical to M&A decisions regardless of different types. Our results suggest several important implications, including balancing independent directors on the board, accounting for CEOs’ and other blockholders’ interests and influence, considering the types of M&A payments, and involving foreign investors in M&A activities. By understanding these implications, firms can better navigate the complexities of M&A transactions, enhancing their decision-making processes and ultimately contributing to improved shareholder value.
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.
How does financial literacy impact on inclusive finance?
(Springer Nature on behalf of the Southwestern University of Finance and Economics, 2021-12-01) Hasan M; Le T; Hoque A
Inclusive finance is a core concept of finance that makes various financial products and services accessible and affordable to all individuals and businesses, especially those excluded from the formal financial system. One of the leading forces affecting people's ability to access financial services in rural areas is financial literacy. This study investigated the impacts of financial knowledge on financial access through banking, microfinance, and fintech access using the Bangladesh rural population data. We employed three econometrics models: logistic regression, probit regression, and complementary log–log regression to examine whether financial literacy significantly affects removing the barriers that prevent people from participating and using financial services to improve their lives. The empirical findings showed that knowledge regarding various financial services factors had significant impacts on getting financial access. Some variables such as profession, income level, knowledge regarding depositing and withdrawing money, and knowledge regarding interest rate highly affected the overall access to finance. The study's results provide valuable recommendations for the policymaker to improve financial inclusion in the developing country context. A comprehensive and long-term education program should be delivered broadly to the rural population to make a big stride in financial inclusion, a key driver of poverty reduction and prosperity boosting.
Systematic Review on the Barriers and Challenges of Organisations in Delivering New Net Zero Emissions Buildings
(2024-06-16) Mahmoodi M; Rasheed E; Le T
Achieving the net zero emissions target that was set in the Paris Agreement to mitigate the risks of climate change seems increasingly difficult as countries and sectors of the economy are falling behind the expected trajectory. The building and construction industry, as one of the main contributors to global emissions, has an essential role to play toward this aim. Net zero emissions target has been introduced to this sector as well; however, achieving it is a very challenging and complex task. Many studies have been undertaken on implementing different measures and strategies to reduce the industry’s carbon footprint. These studies identified many challenges and barriers in transforming the industry. This paper aims to provide a systematic review of challenges that organisations face in delivering new net zero emissions buildings. The relevant journal articles published since the Paris Agreement were identified and analysed using mixed-method data analysis, including quantitative (science mapping) and qualitative (thematic) analysis. The result showed increased attention to the subject over this period, with China, the UK, and Australia being the top contexts for research. The most discussed groups of barriers were “economic”, “knowledge”, and “technical”, respectively, followed by “organisational”, “market”, “technological”, and “legal” barriers.