Critical Assessment of Feed-In Tariffs and Solar Photovoltaic Development in Vietnam

Vietnam became the world’s third largest market for solar photovoltaic energy in 2020. Especially after the Vietnamese government issued feed-in tariffs for grid-connected solar photovoltaic systems, the installed capacity of solar photovoltaic applications exploded in 2019. From studies carried out in the relevant literature, it can be said that support policies are highly important for the initial development of the renewable energy industry in most countries. This is especially true in emerging countries such as Vietnam. This paper reviews the feed-in tariffs issued and deployed in different regions of Vietnam for grid-connected solar photovoltaic applications. Moreover, the paper takes a closer look at the costs of electricity production from these systems in relation to the feed-in tariffs issued in Vietnam. The results show that the gap between the levelized cost of electricity and the feed-in tariff for solar photovoltaic electricity is relatively high, particularly in regions with a lower irradiation potential.

A striking growth of CO2 emissions from global cement industry driven by new facilities in emerging countries

Global industrialization and urbanization processes enabled a diverse cement production boom over the past three decades, as cement is the most important building construction material. Consequently, the cement industry is the second-largest industrial CO2 emitter (~25% of global industrial CO2 emissions) globally. In this study, the Global Cement Emission Database, which encompasses anthropogenic CO2 emissions of individual production units worldwide for 1990-2019, was developed. A recently developed unit-level China Cement Emission Database is then applied to override China’s data and the combination of two database is used to reveal the unit characteristics of CO2 emissions and ages for global cement plants, assess large disparities in national and regional CO2 emissions, growth rates and developmental stages from 1990-2019, and identify key emerging countries of carbon emissions and commitment. This study finds that globally, CO2 emissions from the cement industry have increased from 0.86 Gt in 1990 to 2.46 Gt in 2019 (increasing by 186%). More importantly, the large CO2 emissions and the striking growth rates from those emerging countries, including most of developing countries in Asia and the Middle East and Africa, are clearly identified. For example, the Middle East and Africa, including mostly developing or underdeveloped countries, only represented 0.07 Gt CO2 in 1990 (8.4% of the total), in contrast to 0.26 Gt (10.4% of the total) CO2 in 2019, which is a 4.5% average growth rate during 1990-2019. Further, the intensive expansion of large and new facilities since 2005 in Asia and the Middle East and Africa has resulted in heavy commitment (90.1% of global commitment in 2019), and mitigation threats in the future considering their increasing emissions (national annual growth rate can be up to >80%) and growing infrastructure construction (~50% of clinker capacity operating ≤10 years). Our results highlight the cement industry’s development and young infrastructure in emerging economies; thus, future increasing cement demand and corresponding carbon commitment would pose great challenges to future decarbonization and climate change mitigation.

Online service failure: how consumers from emerging countries react and complain

Purpose E-commerce has experienced huge growth in emerging countries, but analysis of service failure/recovery for online retailers has been limited in this context. Hence, this study aims to investigate customers’ reactions to service failures in e-commerce and the influence of cultural dimensions on complaint intentions. Design/methodology/approach A survey was conducted with 553 customers from Brazil, India and China. A model was proposed and tested using structural equation modeling. Findings Results indicate that satisfaction with service recovery (SSR) increases repurchase intentions and reduces third-party complaints and negative word-of-mouth. This study also shows that the reactions of consumers to service failures in online situations are influenced by their cultural orientation (i.e. individualism, uncertainty avoidance and power distance) and contingent factors (i.e. relationship level, switching costs and the severity of the failure). Originality/value This study shows that the extent to which consumers from emerging countries complain after a service failure in online purchases will depend on their cultural orientation, previous experiences with the retailer, switching costs and the severity of the failure.

An Analysis and Comparison of Multi-Factor Asset Pricing Model Performance during Pandemic Situations in Developed and Emerging Markets

This study empirically analyzes and compares return data from developed and emerging market data based on the Fama French five-factor model and compares it to previous results from the Fama French three-factor model by Kostin, Runge and Adams (2021). It researches whether the addition of the profitability and investment pattern factors show superior results in the assessment of emerging markets during the COVID-19 pandemic compared to developed markets. We use panel data covering eight indices of developed and emerging countries as well as a selection of eight companies from these markets, covering a period from 2000 to 2020. Our findings suggest that emerging markets do not generally outperform developed markets. The results underscore the need to reconsider the assumption that adding more factors to regression models automatically yields results that are more reliable. Our study contributes to the extant literature by broadening this research area. It is the first study to compare the performance of the Fama French three-factor model and the Fama French five-factor model in the cost of equity calculation for developed and emerging countries during the COVID-19 pandemic and other crisis events of the past two decades.

The Impacts of COVID-19 on Business Practice: Some Key Insights

This paper provides an overview of some of the key economic impacts of COVID-19 on business practice, especially in the U.S. In particular, we synthesize some of the latest research, findings and developments from various academic literature and business sources to provide a managerial perspective of the effects of this pandemic. In addition, we show some characteristics of the so-called “new normal” and what kind of innovative business opportunities could arise as a result of the fundamental changes in the global economy. We conclude by highlighting how some emerging countries like India could tap into such opportunities despite the dire global situation.

FIRM RESOURCES FOR INTERNATIONALIZATION OF SMES FROM EMERGING COUNTRIES: A MULTIMETHOD STUDY

ABSTRACT Purpose: This article investigates and classifies firm resources for the internationalization of small and medium enterprises (SMEs) from emerging countries. Originality/value: SMEs from emerging countries in global markets evidence their more restricted access to resources for internationalization. The mainstream international business literature classifies firm’s resources identified in large companies from developed economies. This research classifies firms’ internationalization resources located in different emerging countries based on a systematic literature review (SLR) and interviews. This paper contributes to the theoretical development about the internationalization of SMEs from emerging countries, indicating the importance of organizational resources in this process. Design/methodology/approach: This paper presents an exploratory research developed in two stages: a SLR on emerging countries and interviews with experts, institutions, and SMEs about the Brazilian context. Bibliographic research and an interview with semi-structured script were adopted as data collection techniques. Interviews were analyzed with NVivo software using content analysis technique and providing categorization of resources. Findings: Up to 2016, 15 works mentioned resources for the internationalization of SMEs from emerging countries and seven were done in Asia. We identified 72 resources in ten emerging countries. Organizational resources predominate. The use of financial resources in Brazil contradicts the trend in other emerging countries. More tangible resources seem less strategic for SMEs’ internationalization from emerging countries when compared to more intangible resources, as organizational ones.

Portfolio Investment in Malaysia and Saudi Arabia

Several strategies are adopted by investors in lowering the risk of investment while maximising its return. Graham's stock selection criteria are noted as one of the best strategies in selecting portfolios by investors. Although the model is universally accepted, it is less commonly practised and examined in emerging markets. Considering the growth of these emerging countries' financial markets, it is worthwhile to investigate the doctrine's effect on investment in these countries. This study endeavours to review the consequence of Graham's stock selection criteria on portfolio returns in the Malaysian and Saudi Arabian stock markets. Each country represents the fastest growing market in their region which justifies this study. The study found that the Malaysian stock market is capable of proffering abnormal returns to investors while the Saudi stock market is capable to offer abnormal returns to investors despite being an undeveloped and immature stock market. The study concludes that the model of stock selection remains beneficial and indeed valuable to regional investments.