This study examines the relationship between financial education, financial literacy, and financial behavior among young Vietnamese adults. Based on survey data from over 1000 participants, this study measures financial literacy through objective and subjective knowledge and financial ability. Financial behavior is assessed in terms of short-term behaviors (emergency funds, spending, overdraft, and budgeting) and long-term behaviors (retirement planning, having a retirement account, investment, and setting financial goals). Logistic and ordered logistic regression models are employed to analyze the data. The findings indicate a significant difference in financial behavior between individuals who have received financial education and those who have not. This study also reveals that financial literacy has a negative impact on short-term financial behaviors but a positive effect on long-term financial behaviors. This novel finding highlights the importance of considering different time horizons when examining the interplay between financial literacy and behaviors. The insights from this study hold implications for policymakers, educators, and financial institutions in developing countries like Vietnam, as they can inform the design of effective financial education programs. Ultimately, this research contributes to enhancing the financial well-being of young adults and supporting the country’s overall economic growth.

This research investigates the influence of financial inclusion and digitalization on carbon dioxide (CO₂) emissions by analyzing a sample of 38 countries from 2006 to 2020. For our analysis, we use the SGMM method and fixed-effect panel threshold models. Financial inclusion and digitalization are measured using newly constructed indices derived from principal component analysis. Despite some variations in specific details, the overall trend in the relationship among CO₂ emissions, financial inclusion, and digitalization remains consistent across high-income and low- and middle-income countries. Our findings reveal that financial inclusion has a significant and non-linear impact on CO₂ emissions. Conversely, digitalization is found to reduce CO₂ emissions significantly. Furthermore, the threshold models indicate that the impact of financial inclusion on CO₂ emissions varies depending on the levels of financial inclusion and digitalization. The influence of financial inclusion on CO₂ emissions is lower at higher levels of financial inclusion and digital technology, and vice versa. Our findings have implications for policymakers who seek to develop economic policies for sustainable development. By adopting policies that promote digital technologies, policymakers can enhance financial inclusion and economic growth and reduce CO₂ emissions.

The paper investigates the impacts of diversification strategies on various indicators of bank risks and performance in emerging markets before, during, and after the global financial crisis. We use a data set of 44 commercial banks in Vietnam over the period 2002-2019 and the Generalised Method of Moments (GMM). The results suggest that income and funding diversification improve bank performance without increasing their risk-taking. During the financial crisis, assets and funding diversity help reduce risk, while income diversified banks bear more risk. The empirical findings show that different diversification dimensions affect bank risk and performance differently during crisis and non-crisis periods so bank managers need to adjust their strategy accordingly.

This paper aims to investigate the effect of generic strategy on R&D spending and the impact of R&D spending on firms’ performance conditional on their strategic position. This empirical study uses accounting data of 597 listed Taiwanese firms in the manufacturing industry from 2013 to 2017. The data was obtained from Taiwan Economic Journal (TEJ) database. The results indicate that firms that adopt a differentiation strategy have more R&D spending than companies with a cost leadership strategy. Furthermore, the authors find that R&D spending positively affects firms’ performance if they pursue a differentiation strategy. Meanwhile, the relationship between R&D spending and firm performance forms an inverted U-shape for those who adopt a cost leadership strategy. First, for firms adopting the differentiation strategy, the investment in R&D is critical because the more investment on R&D these firms spend, the better performance they will gain. Second, for firms with a cost-leadership strategy, R&D spending is also essential to improve efficiency. However, they should allocate the budgets wisely and reasonably, as controlling cost is the main focus of this strategy to keep their competitive advantages. This study examines the relationship between R&D spending, business strategy, and firm performance in Taiwan. Further, the study suggests that manufacturing firms in Taiwan allocate their resources wisely and efficiently according to their system.