CFVG 2012

ICBEIT 2012 HCMC
INTERNATIONAL CONFERENCE ON BUSINESS, ECONOMICS AND INFORMATION TECHNOLOGY
March 19th – 20th 2012 in New World Saigon Hotel, Ho Chi Minh City, Vietnam
DOING BUSINESS IN THE GLOBAL ECONOMY

Economic, Political, Social, Cultural and Technological Environments
CONFERENCE PROGRAM
ORGANIZED AND SPONSORED BY

University of Guam-School of Business and Public Administration
Penn State Altoona-Division of Business and Engineering
Nagoya University-Graduate School of Economics-Economic Research Center
University of Economics-Ho Chi Minh City
WELCOME REMARKS FROM THE CONFERENCE CHAIRS
March 19th 2012

Dear Conference Participant:
Chào Buổi Sáng!* Welcome to the International Conference on Business, Economics and Information
Technology in Ho Chi Minh City, Vietnam.
We are pleased that you have chosen to join us in the next two days in what we anticipate will be a wonderful
opportunity to exchange ideas in the spirit of scholarship and professional growth.
We have prepared a conference packet for you with our environment in mind. For your convenience, we have
printed the Conference Program, but all other documents, including the Conference Proceedings, are made
available to you electronically in the enclosed USB-flash drive.
If there is anything else we can do to enhance your experience at this conference, please let us know.
We sincerely thank you for your participation. We look forward to meeting you in person and welcome the
opportunity to speak with you in the next two days. Cám ơn rất nhiều!**
Best regards from the Conference Co-Chair,
Maria Claret Mapalad-Ruane, Ph.D.

Associate Professor of Economics and Finance, School of Business and Public Administration
Resident Development Economist, Pacific Center for Economic Initiatives
University of Guam
Barbara A. Wiens-Tuers, Ph.D.

Professor of Economics
Head, Division of Business and Engineering
Penn State Altoona
Akihiro Noguchi, D.Econ.

Professor of Accounting, Graduate School of Economics
Former Director, Economic Research Center
Nagoya University
Hòai Trong Nguyễn, Ph.D.

Vice President
University of Economics Ho Chi Minh City
* Good morning ** Thank you very much

Session 1 will be held in Grand Mekong Ballrooms 1 and 2
while all other sessions (concurrent sessions) will be held in
Grand Mekong Ballroom 1 (“Mekong 1”) or Grand Mekong
Ballroom 2 (“Mekong 2”). Below is the map of the function
rooms in the lobby floor.
Day 1: March 19th 2012

0800-0900 Registration of Participants
Assisted by American Marketing Association students from the University
of Guam-School of Business and Public Administration (from left to right:
Mr. Ramsay Cooper-Nurse, Ms. Gizzele Valencia, Ms. Bernie Capindo and
Ms. Hazel Estrellado)
0900-1000 Opening Session (Grand Mekong Ballroom 1 and 2)
WELCOME REMARKS BY CONFERENCE CO-CHAIRS AND SPECIAL GUESTS
Dr. Maria Claret Mapalad-Ruane (Conference Co-Chair), University

of Guam (U.S.A.)
Associate Professor of Economics and Finance at the School of
Business and Public Administration and Resident Economist at the
Pacific Center for Economic Initiatives (left photo)
Dr. Phong Dong Nguyen, University of Economics Ho Chi Minh City

(Vietnam), President (right photo)
Dr. Jungwoo Ryoo (left photo) on behalf of Dr. Barbara A. Wiens-

Tuers (Conference Co-Chair), Penn State Altoona (U.S.A.), Associate
Professor of Economics and Head of the Division of Business and
Engineering
Dr. Akihiro Noguchi (Conference Co-Chair), Nagoya University

(Japan), Professor of Accounting, Graduate School of Economics and
Former Director, Economic Research Center (right photo)
1000-1030 COFFEE BREAK
1030-1200 Session 1: International Issues in Business and Economics (Fort San Jose)
Chaired by Dr. Ansito Walter, University of Guam-School of Business and Public Administration
FACTORS INFLUENCING THE DEVELOPMENT OF MARKETING CONSULTING

SERVICES IN VIETNAM
Dr. Phong Dong Nguyen and Dr. Trang Thanh Bui (presenter) of the University of Economics Ho Chi
Minh City (Vietnam)
The Marketing Consulting Service (MCS) in Vietnam has been formed and developed since 2000, the
country’s traditionally inefficient MCS sector has not significantly improved its efficiency and
competitiveness. The market potentiality is high because of the huge need of marketing services in young
enterprise culture. It has been shown that the supply and demand side of the MCS has not been
balanced; moreover, it has not exploited the market potentiality as well as the market growth. The
purpose of the mixed method paper is to focus on exploring and analyzing the influencing factors on the
development of Marketing Consulting Service in Vietnam and to propose some solutions to promote this
service. This study confined itself to interviewing the focus group and to conducting the survey of
research participants who are working on the MCS providers and MCS customers in Ho Chi Minh and Hanoi city. The focus groups
were interviewed with 20 different marketing consultants, senior managers in the service providers and independent consultants. The
objectives of semi-structured interviews are to explore participants experience, perceptions and meanings on the development process
of MCS in Vietnamese emerging market, in order to design survey questionnaires for conducting the quantitative method. A survey
was conducted with 300 MCS enterprises; there were 200 enterprises in Ho Chi Minh City, and 100 enterprises in Hanoi city.
Correlations and multiple regressions statistical analyses were employed to estimate relationships between independent and
dependent variables. The results show that five factors correlated with development of MCS are recognition of need, affordability and
willingness to pay of service receiver, capability and ability of provider, perceived value to service, source of information on service
providers. Discussions and future research are addressed at the end.
MAURITIUS AS A SUCCESS STORY FOR FDI: WHAT STRATEGY AND POLICY LESSONS CAN EMERGING
MARKETS LEARN?
Dr. Rajeev Sooreea (presenter) at the School of Business and Leadership, Dominican University of
California (U.S.A.) and co-author Dr. Brinda Sooreea-Bheemul at the Department of Economics and
Statistics, University of Mauritius (Mauritius)
This study uses a policy approach to examine the role of Foreign Direct Investment (FDI) in the
‘Mauritian economic miracle’ years of 1970-2000. In the early stage of industrialization, the Mauritian
government turned the island into an Export Processing Zone. The objective was to attract foreign direct
investors in the textile and clothing industry who would then export the finished manufactured products to
European and North American markets. This study analyzes how the spillover and linkage effects between
FDI, productivity, domestic investment, and exports impacted economic growth. The results indicate that it
was FDI stock, rather than FDI inflows, that led to the growth success. In addition, it was the heavily FDI-
driven export sector which was the driving force of economic growth. The study also highlights the
challenges that Mauritius faced during its development path, lessons that emerging countries can learn from and policy
recommendations on how to reposition Mauritius going forward.
SUKUK: GLOBAL ISSUES, CHALLENGES AND OPPORTUNITIES

Dr. Mustafa Mohd. Hanefah (presenter), Universiti Sains Islam Malaysia; Dr. Akihiro Noguchi, Nagoya
University (Japan); and co-author Dr. Muhamad Muda, Universiti Sains Islam Malaysia
The purpose of this paper is to describe the differences between Sukuk and conventional bonds and
discuss issues concerning accounting, recognition, measurement and disclosures in the financial
statements. Currently most of the Sukuk issuers are Islamic financial institutions, but others including
Singapore and the European countries are also joining the band-wagon to capture the capital-flows
from the Middle Eastern countries. A number of issues are discussed in this paper, among them include
recognition, measurement and disclosure of sukuk according to two different international accounting
standards. The possibility of harmonization of between IFRS for financial instruments and AAOIFI
standard on investment is also discussed. The comparative analysis shows that there are not major
differences between IFRS and AAOIFI standards as per recognition, measurement and disclosures of
Sukuk, and therefore IFRS can be adopted by issuers worldwide for international comparability of
financial statements. Global challenges and opportunities facing sukuk are also discussed in this paper
along with some recommendations on how to overcome them.
THE ONE VILLAGE ONE PRODUCT (OVOP) MODEL AND SUSTAINABLE DEVELOPMENT ON GUAM
Dr. Ning Li at the School of Business and Public Administration, University of Guam (U.S.A.)
The unique strategic location and the impending military build-up have offered Guam great
opportunities of rapid economic growth in the near future. However, Guam still needs proper public
policy and strategies to build up its indigenous capability to ensure sustainable development. The one
village one product (OVOP) model seems to be a good strategy that Guam can adopt for its rural
development and for the island's tourism industry. The uniqueness of the OVOP strategy in Guam is
the tight connection between agriculture and tourism industry. By pursuing a specialization strategy,
each village will not only identify an agricultural product or serve that will eventually lead to successful
import substitution but also create a specific image to attract visitors and investments. Research
methods are mainly qualitative, including descriptive reasoning and case studies. This paper examines
a bunch of criteria to see whether Guam is ready to adopt the OVOP model for its regional
development. These criteria include: (1) a common recognition of reformation; (2) existence of local
characteristics; (3) persistence with the OVOP strategy; (4) identification of products of high value-
added; (5) marketing channel; and (6) human resource development. This paper also scrutinizes local government incentives and
existing programs in different villages, such as Inarajan Coconut Festival, Chamorro culture Fest, Agat Mango Festival, etc. The
author argues that Guam is ready for the OVOP model and will benefit from implementation of such a development strategy.
Accordingly, the local governments on Guam need to work closely with agriculture and tourism industry to develop public policies
that promote the OVOP movement.
POLITICAL LEADERS IN THE STRUGGLE FOR INDEPENDENCE IN MICRONESIA

Dr. Ansito Walter (presenter), Dr. Marilyn Salas and co-authors Dr. Unaisi Nabobo-Baba and Dr.
Tupeni Baba, University of Guam (U.S.A.)
This paper will focus on an interpretive study of political leaders in Micronesia who were involved in
the struggle of liberation for their peoples in the 1980s leading up to the independence of their nations
from the United States. Two dilemmas faced these leaders: 1) to remain as part of the Commonwealth of
USA and continue to provide the United States the strategic use if their island territories and its waters
and oceans, for its defense and its plan for extension of its powers and suzerainty over South East Asia
with some substantive financial compensations from the United States ,and 2) to attain their
independence and to run their own affairs under self determination principles and thereby to be
responsible for their own funding and financial outlay of their nations development after independence.
The leaders chose independence for the nations of the Marshall Islands, the Federated States of
Micronesia and the Republic of Palau. This is a story about their choice and their reasons for such
choices. The paper will present a case studies of least three such leaders presented in the context of their times and with a back drop
of some of the current challenges being faced by their own countries in a new and challenging context of globalization and during a
period of slow decline of the economic power of the United States.
1200-1330 LUNCH BREAK AT PARKVIEW RESTAURANT

1330-1430 Session 2 (concurrent sessions)
Session 2A: Finance I (Mekong 1)
Chaired by Dr. Ron L. McNinch, University of Guam-School of Business and Public Administration
THE EFFECT OF GLOBAL FINANCIAL CRISIS ON THE PHILIPPINES’ EXPORT SECTOR: A VECTOR AUTO-
REGRESSION ANALYSIS
Prof. Cynthia P. Cudia of the Accountancy Department, De La Salle University-Manila (Philippines)
The Global Financial Crisis (GFC) caused the collapse of large financial institutions around the world;
and contributed to the failure of various businesses that led to significant downturns in economic
activities. This study assesses the impact of the financial crisis on the Philippine export sector. Using
vector auto-regression analysis, we analyze the effect on the Philippine export sector with respect to the
changes on the Philippine Gross Domestic Product (GDP), Philippine currency movement in terms of
exchange rate from Philippine Peso (PHP) to US Dollar (USD), and change in US GDP and US
imports, being US as the major trading partner of the Philippines. This study further determines the
performance of Philippine exporters linked with the GFC. Hence, this study derives policy implications
on the development of the Philippines’ export sector given the external shocks associated with a
financial crisis.
THE DETERMINANTS OF CORPORATE CAPITAL STRUCTURE: EVIDENCE FROM JAPANESE

MANUFACTURING COMPANIES
Dr. Michael Angelo Cortez (presenter) and Mr. Stevie Susanto of the Graduate School of
Management, Ritsumeikan Asia Pacific University (Japan)
The debates regarding determinants of corporate capital structure have been progressing for a few
decades since the first capital structure theory was found by Modigliani and Miller in 1958. Their
theory evolved into two main theories; static trade off theory by Krauz & Litzebnerger (1973), and
pecking order theory by Myers & Majluf (1984). The studies related to corporate capital structure
often use firms in developed countries as their sample data. Japan, which is one of the largest
economies in the world, regularly becomes a part of these studies. In this study, we aim to determine
the relations between the firm specific experience and debt level in Japanese firms. We choose
manufacturing companies as the subject of study because the sector is vital to the Japanese economy.
Moreover, Japanese manufacturing companies are also very influential in the global economy. With
this study, we intend to contribute to the literature by examining the determinants of corporate capital
structure in Japan, one of the major developed markets.
We use panel data and multiple regression to analyze the relationships between the dependent variable, namely leverage, and the
independent variables, tangibility,profitability, non-debt tax shield, size, growth in fixed assets, and growth in total assets. We find
that size, growth in fixed assets, and growth in total assets are not significant. However, we also reveal that the variable tangibility,
profitability, non-debt tax shield are statistically significant. Tangibility has a positive relation with debt level while profitability and
non-debt tax shield have negative relation with debt level. These relationships are predicted in either static trade off theory and
pecking order theory but none of the theories show a more dominant predictive capability over the other.
CORPORATE DEBT FINANCING IN THE PHILIPPINES: EXAMINING THE ROLE OF FIRM-LEVEL FACTORS
THROUGH BINARY CHOICE MODEL
Prof. Christian Paolo E. Romagos (presenter), Ms. Karen Q. Almenar, Ms. Ana Felicia T. Singson,
and Mr. Mart Jaffiel S. Sio (Philippines)
The Pecking Order Theory, first introduced by Donaldson in 1961, states that companies prefer to
raise funds, in the order of priority, through internal sources, debt and then equity. While clearly
debt is the next best option to internally raised funds, it’s not clear whether debt should be in the
form of either bank loan or bond issuance and if there is an order of preference between the two.
This study will investigate if certain firm-level factors contribute in determining that choice. Logit
estimation will be used to process the cross-sectional data gathered from listed Philippine
companies in identifying which firm-level factors significantly affects the choice of debt financing
1330-1430 Session 2B: Marketing (Mekong 2)
Chaired by Prof. Terrie O’Brien, University of Guam-School of Business and Public Administration
THE INFLUENCE OF SWITCHING TRIGGERS ON CUSTOMER LOYALTY

Dr. CongCong Hou of the School of Future Learning, Hokuriku University (Japan)
Customer satisfaction is the important factor of customer loyalty. Many researchers have investigated
relationship between customer satisfaction and customer loyalty. On the other hand, there are many
cases of switching your favorite service or product if you also satisfied. The aim of this study is to
understand the factors and circumstances that result in customer loyalty and customers’ decision to
switch to other service or product. The key concept is switching triggers. This study investigates the
influence of switching triggers on customer loyalty using survey data of mobile industry in Japan.
THE AGANA MARKET PLACE: A CASE STUDY

Prof. Maria Teresa O'Brien of the School of Business and Public Administration, University of Guam
(U.S.A.)
Traditionally, small business has been a driving force in our national and local economies. As a
group, small businesses account for about half the GDP in the U.S., it comprises 99.7% of all
employers, provides over 50% of total workforce employment (in rural areas small business provides
66% of jobs, in inner cities small business provides 80% of jobs), creates new jobs, and contributes to
the overall growth, and stability of our economy (a 5% increase in small-business births leads to a
.456% increase in Gross State Product). Its growth is used as one measure of the strength of the
economy. Encouraging and supporting new business ventures can be seen as a positive investment in our future economic success.
However, the challenges for small business ventures are daunting, with failure rates topping 90% within the first year of operation.
Given the lagging state of our national and local economies over the past several years, the idea of starting new business at this can
be quite risky and truly intimidating. Guam is an unincorporated territory in the Western Pacific. It, along with the rest of the
country, has felt the negative impact of sluggish economic conditions that have plagued the nation for at least the past 10 years. In
addition to the challenges facing new business ventures all over the U.S., Guam must also contend with the challenges brought about
by Asian economic woes - given the island’s dependency on the Asian markets for both tourism and investment. Additionally, the
island’s economy has traditionally relied on U.S. Military investment and support. Unfortunately, an expected significant military
buildup seems more and more elusive as the federal government appears to have shifted their interest in following through on the
transfer of Marines from Okinawa, Japan. This sets the scene for a very tough environment facing prospective entrepreneurs on
Guam. One local small business has attempted a two-pronged approach to helping to improve the probability for success for both
themselves and fledgling retail businesses on Guam. The Agana Market Place was conceived by the management of the Agana
Shopping Center as a means to improve occupancy rates for the struggling shopping center and to provide an affordable venue for
small retail entrepreneurs to get their businesses off the ground in a quasi-incubator setting. This case study investigates the progress
of this new venture as well as that of the novice retail enterprises that have had the courage to venture into business during these
trying times.

Session 3A: Accounting I (Mekong 1)
Chaired by Dr. Mustafa Mohd. Hanefah, Universiti Sains Islam Malaysia
ACCOUNTING ACCRUALS, AUDIT FEES AND OWNERSHIP STRUCTURE: EMPIRICAL EVIDENCE FROM JAPAN
Dr. Naoki Kasai of the Faculty of Economics, Shiga University (Japan)
This study provides empirical evidence on how the association between accounting accruals (measured
by accrual quality) and audit fees is moderated by ownership structure. Previous research shows that
auditor independence is eroded by auditor–client economic dependence. To date, most researchers have
focused on U.S. firms in assessing the effects of audit committees or boards of directors on the
association between auditor–client economic bonding and audit quality. However, alterative
governance mechanisms exist instead of these organizations in Japan, and can provide a new
perspective on this issue. A unique feature of Japanese company ownership structure is that there exist
stable shareholdings, such as cross-shareholdings and financial institution shareholdings. This
governance structure is different from those not only in the U.S. but also in other countries that have
seen previous research on this issue, such as Australia and other Commonwealth countries. There is no
research to date focusing on the how the relationship between accrual quality and audit fees is
moderated by cross-shareholdings in the Japanese market. Thus, this study uses the accrual-quality
measure developed by Dechow and Dichev (2002) as a measure of audit quality to fill this gap. The
results demonstrate that higher audit fees are likely to have compromised auditors’ independence and thereby led to lower audit
quality. On the contrary, cross-shareholdings are negatively associated with accrual quality. This result indicates that higher cross-
shareholding led to higher accrual quality. Additionally, I find an association between audit quality and audit fees, moderated by
cross-shareholdings. This study provides the first empirical evidence that cross-shareholdings can
ACCOUNTING FOR EQUITY AND THE STATEMENT OF CAPITALIZATION AT FAIR

VALUE
Dr. Akihiro Noguchi of the Graduate School of Economics, Nagoya University (Japan)
Because of the lack of capacity, FASB and IASB have tentatively stopped the deliberation of “Financial
Instruments with Characteristics of Equity” project since October 2010. But in March 2010, contents of
the exposure draft had been deliberated by the Boards and new schedule, the statement of capitalization
at fair value was introduced to meet the information needs. In this paper, first, the history of the
accounting standards for equity will be summarized and discussed, second, the meaning of the statement
of capitalization at fair value will be analyzed, and third, dual calculation scheme for equity and earnings
will be presented.
A SURVEY ON HANDLING BAD DEBTS: SELECTED SMALL AND MEDIUM ENTERPRISES IN THE PHILIPPINES
Dr. Venus C. Ibarra of the School of Business and Public Administration, University of Guam (U.S.A.)
The concept of bad debts expense is relevant to companies that use the accrual basis of accounting and
are heavy on credit sales. Uncollectible accounts or bad debts reduce revenue, and recognition of bad
debts is crucial in presenting the correct revenues of the company. This paper looks at selected small
and medium enterprises in the Philippines and considers what methods are used in handling bad debts,
whether these are in accordance with the generally accepted accounting principles (GAAP), whether
there are significant differences in the methods depending on their business location and type of
business. Findings show that SMEs in all areas surveyed were not following the generally accepted
principles of matching in handling and recording bad debts. Out of 89 respondents, 41.6% use the
direct write-off method instead of the allowance method. Only 37.1% uses the allowance method
broken down as follows: percentage of accounts receivable (22.5%); percentage of sales (5.6%); and
aging (9%). A high percentage of the respondents (21.3%) do not have any method of handling bad
debts. There are no significant differences in the methods used in handling bad debts by location or type of businesses.
1430-1530 Session 3B: Graduate Student Presentations I (Mekong 2)

Chaired by Dr. Ning Li, University of Guam-School of Business and Public Administration
THE GROWING TRENDS OF CORPORATE SOCIAL RESPONSIBILITY IN THE ASIA PACIFIC REGION: HOW CAN
GUAM’S HEALTH CARE INDUSTRY ADOPT A REGIONAL APPROACH TO CSR
Ms. Trina Cruz and Mr. Dan Nguyen (presenter) of the School of Business and Public Administration,
University of Guam (U.S.A.)
The healthcare industry on Guam and in the Asia-Pacific region and continues to face inevitable
challenges. Negative assumptions are placed upon the industry as a whole when as little as one or two
players make poor decisions. The sensitivity of the healthcare industry requires a more personal
approach to gaining consumer truss and maintaining a positive image.
Organizations with a sensible approach to corporate social responsibility benefit when its industry is in
controversial times. This case study presents regional trends and benefits from corporate social
responsibility and ways it can be applied on Guam. As Guam’s developing healthcare industry remains
highly competitive, a corporate social responsibility plan will be essential for future success and
survival.
GUAM DOCTORS’ CLINIC: A CASE STUDY ON OPERATIONS MANAGEMENT

Ms. Ronalisa Provido (presenter) and Dr. Karri T. Perez of the School of Business and Public
Administration, University of Guam (U.S.A.)
Guam Doctors Clinic has described some of issues confronting their organization and asked University of
Guam PMBA students for their assistance in “right-sizing” the company. This paper examines those issues
as a starting point to determine the underlying problems that may be causing the difficulties in the
company’s operation. The objective is to formulate appropriate business practices to create the highest
level of efficiency within the company, which is the essence of the study of operations management. By
properly defining, allocating, scheduling and directing materials and labor into goods and services, the
clinic can maximize the profits of the company. Observation, statistical survey, benchmarking, and buy or
make cost-benefit analysis are the main tools used to arrive at the conclusion.
TESTING THE THEORY OF PLANNED BEHAVIOR IN HEALTH CONSUMER DOMAIN: A CASE OF DEWORMING
PRODUCT CATEGORY IN VIETNAM
Mr. Phuong Nguyen of the CFVG, University of Economics Ho Chi Minh City (Vietnam) and Dr. Hau
Nguyen Le of the University of Technology Ho Chi Minh City (Vietnam)
The purpose of the present study was to test the validity of theory of planned behavior in health consumer
domain using the case of deworming product category. The test was made on a convenient sample of 395
mothers living in Ho Chi Minh City, Vietnam. Attitude was found to be the most important construct that
explains intention and behavior of mothers in using deworming products, while subjective norm and
perceived behavioral control have moderate and the least influences on the intention and behavior under
research respectively. Behavioral and normative were found to influence intention. Influence of attitude,
subjective norm, and perceived behavior control on the intention is different among socio-demographic
groups. From these findings, theoretical and managerial implications are provided. Limitations of the
research are discussed.

Session 4A: Business Strategy I (Mekong 1)
Chaired by Dr. Ron L. McNinch, University of Guam-School of Business and Public Administration
AN ANALYSIS OF THE ANTIBIOTIC INDUSTRY: AN INNOVATOR’S DILEMMA?

Dr. Lailani L. Alcantara (presenter) and co-authors Dr. Faezah Mahichi, and Dr. Yonghoon Park of the
College of Asia Pacific Studies, Ritsumeikan Asia Pacific University (Japan)
With the decreasing cost-effectiveness of antibiotics and increasing prevalence of antibiotic resistant
bacteria across countries, pharmaceutical companies now face a dilemma of neglecting or investing in
antibiotic research and development. On the other hand, some entrepreneurial companies are engaging
in the development and commercialization of phage therapy, a potential alternative to antibiotics that
was discovered earlier than antibiotics and of which use has persisted in Eastern Europe. This study
analyzes the development of antibiotics and phage therapy, and captures the current state of play in the
antibiotics industry. It also examines the perceived value of antibiotics and phage therapy through a
questionnaire-based survey of companies, medical doctors, and researchers in Japan. While we found
scientific evidences supporting the use of phage therapy, the survey findings indicated low perceived
value of phage therapy. These findings offer managerial implications for businesses in the antibiotic industry.
THE GLOBALIZATION OF NORTHERN CALIFORNIA’S BIOTECHNOLOGY INDUSTRY

Dr. Rajeev Sooreea, Dr. Supriya Sharma, and Ms. Lina Luong (Presenter) of the , Dominican University
of California (U.S.A.)
The biotechnology firms in the North Bay of the San Francisco Bay Area in Northern California are
conducting their global expansion strategies in heterogeneous ways. This paper examines what foreign
market entry modes they choose, which international location clusters they are attracted to, and whether
firm size and age matter in their internationalization process. The study also provides an assessment of
what makes the North Bay biotech firms unique in terms of their location, product category and target
markets. The results indicate that large and well established firms prefer equity entry modes such as
acquisitions followed by Greenfield FDI and joint ventures. Small firms clearly prefer exporting. They
also use joint ventures and licensing but engage very minimally in Greenfield investment. Younger firms
tend to choose exporting or joint ventures. As firms mature they switch away from joint ventures and
strategic alliances to FDI; however, they tend to maintain their exporting strategy. The study also shows that large firms are
predominantly biopharmaceutical companies and are more engaged in research while small firms are mostly medical device
manufacturers/providers and are more active in diagnostics and wholesale trade. Irrespective of size and age, the most preferred
international destinations for the North Bay biotech firms are Western and Southern Europe, Eastern Europe and Russia, and Asia.
THE IMPACT OF STATE SHAREHOLDING, OF CORPORATE CULTURE AND EMPLOYEE COMMITMENT ON
CORPORATE PERFORMANCE OF PRIVATIZED FIRMS IN VIETNAM
Prof. Thi Quy Vo (presenter), University of Economics Ho Chi Minh City (Vietnam) and co-author Dr.
Fredric William Swierczek of the Thammasat Business School, Thammasat University (Thailand)
This paper investigates the impact of state shareholding, of corporate culture and employee commitment
on corporate performance of privatized firms in the Vietnamese context. We first identify state
shareholding level, the dimension of the organizational cultures, employee commitment of privatized
firms (PFs), and then study whether state shareholding, organizational structure and employee
commitment significantly impact on corporate performance of privatized firms. By analyzing the
information collected from a structured questionnaire that was developed and sent to managers, staffs,
and workers in privatized companies, we show that the people and market orientations, affective
commitment in PFs impact significantly on their performance. However, privatized firms with less state
shareholding perform better than those with higher state shareholding. Suggestions are offered for an
appropriate management of organizational culture values, employee commitment in Vietnamese firms.
1545-1700 Session 4B: Graduate Student Presentations II (Mekong 2)

Chaired by Dr. Venus C. Ibarra, University of Guam-School of Business and Public Administration
ANALYSIS OF THE REASONS FOR CLASSIFYING MINORITY INTEREST AS LIABILITIES ON THE

CONSOLIDATED BALANCE SHEETS IN 1920S
Ms. Masako Futamura (presenter) and Dr. Akihiro Noguchi of the Graduate School of Economics,
Nagoya University (Japan)
Minority (or noncontrolling) interest is the portion of the equity of a subsidiary pertaining to shares not
owned by the controlling company. Minority shareholders cannot claim distribution of earnings based
on consolidated financial statements, their claim is limited to the earnings of the subsidiary. Although
they are shareholders, those of parent company and a subsidiary are not exactly the same. It has been
debated how those different group of shareholders’ interest should be presented on the consolidated
balance sheet. Classification of minority interest on the consolidated balance sheet could be equity,
liabilities, or mezzanine. Minority interest is now classified as part of equity of the consolidated group in
major accounting standards. But in the middle of twentieth century, majority of the companies were
excluding minority interest from equity in their consolidated balance sheet in the U.S.A In this paper,
the results of the survey of the classification of minority interest in the consolidated balance sheet from 1901 to 1930 in the USA are
first presented. And next, the reasons for classifying minority interests among liabilities are analyzed based on two early cases. We
used the “ProQuest Historical Annual Reports” database to conduct survey on classification of minority interest in the consolidated
balance sheet from 1901 to 1930. We searched the database by using “minority interest” as keywords and collected the samples to
count the number of companies classifying minority interest as equity, mezzanine, or liabilities in their consolidated balance sheet in
order to describe the classification in accounting practice. Two early cases, the Flintkote Company and The City Ice and Fuel Co.,
which classified minority interest among liabilities, are analyzed. According to the results of our survey, classification of minority
interest was first equity, next equity or mezzanine. We had to wait until 1926 for finding first case for liability classification. We found
in total 7 companies presenting minority interests among liabilities in their consolidated balance sheet from 1901 to 1930. Two
reasons for classifying minority interest among liabilities are discussed based on the analysis of the financial statements presentation
in the annual reports in 1920s. Balance sheet presentation of The Flintkote Company could be said that it was reflecting the intention
of the company to purchase those minority interests, and that of The City Ice and Fuel Co. was consistent with the calculation of profit
for the year to surplus.
This paper shows the results of survey for the classification of minority interest by published annual reports from 1900 to 1930 in the
USA by searching database of the annual reports. Prior research revealed the trends in textbook explanation or the survey of practice
in the latter half of the century. The reasons for liability classification of minority interest are also analysed based on the actual cases
in 1920s. Reasons for supporting liability classification were not clear in the textbooks.
The case of The Flintkote Company might be exceptional and cannot be generalized. Composition of shareholders of the parent
company might be another reason for liability classification. But we have not found specific case to support that assertion yet.
THE RELATIONSHIPS BETWEEN CORPORATE ENVIRONMENTAL PERFORMANCE AND STOCK
PERFORMANCE: EVIDENCE FROM JAPAN
Mr. Lasmin (presenter) and co-author Mrs. Nila Nuzula Firdausi of the Graduate School of Management,
Ritsumeikan Asia Pacific University (Japan)
Do stock markets react positively to the increasing corporate environmental costs? In this paper, we
examine the relationships between corporate environmental costs and their stock performances. Using
hand-collected dataset from 42 Japanese companies during 2002 - 2009, we find that investors’ reactions
are mixed towards companies incurring higher environmental costs. Additionally, we reveal three
important implications for corporate environmental reporting research modeling. First, investors
respond differently toward environmental expenses and toward environmental investments. Second,
investors in certain industries are more sensitive to the change of companies` environmental expenses
and investments. Finally, investor`s attitudes are changing over time toward environmental expenses and
investments.
SHORT TERM MOMENTUM IN THE VIETNAMESE STOCK MARKET

Mrs. Hang Thu Nguyen at the CFVG, University of Economics Ho Chi Minh City (Vietnam)
Although the stock market in Vietnam have grown rapidly since they were launched in 2000, the trading
volume continues to be very thin; disclosure practices of firms are limited. There are barriers to foreign
investors’ trading and price manipulation often occurs. Observations on the Vietnamese stock market
have shown that many investors’ decision making process depends on stock price behavior forecast
resulted from analysis of past price data. This phenomenon shows evidence against the aforementioned
efficient market hypothesis and motivates the author to do this research to test the efficient market
hypothesis of the Vietnamese stock market. The study uses a sample of weekly returns of stocks listed
on Ho Chi Minh Stock Exchange) (HSX) for the period between 2007 and 2010. The data was provided by iTrade corporation- a firm
specializing in data and technical analysis tools in the Vietnamese stock market. Although the Vietnamese stock market was launched
on July 28th 2000, the data of the period between 2000 and 2006 are not utilized as there are few listed stocks during the period. The
main method to test the market reversal or momentum in the prior literatures is to examine the profitability of momentum strategies or
winner-minus-loser portfolios (WML). In this study, a similar methodology to the one employed in Gutierrez and Kelley (2008) is
utilized. Findings of this study will be reported in this conference.
FOREIGN DIRECT INVESTMENT PRODUCTIVITY SPILLOVER AND THE ABSORPTION CAPACITY THROUGH
MANAGERIAL SKILL AND OWNERSHIP
Ms. Ngoc Thi - Bich Pham of the Doctoral Programme in Quantitative Economics, University of Kiel (Germany) and Hoa Sen
University (Vietnam)
Foreign Direct Investment not only brings a remarkable capital to one economy but also possibly spills the
productivity over to domestic enterprises. Using the firm-level data for the Vietnamese manufacturing
sectors in the period 2007 – 2009 under trade liberalization, the analysis finds that the productivity
spillovers from foreign affiliates in the same and in upstream industries are negative, but those from
foreign firms in downstream industries are positive. The forward and backward spillovers (inter-industry
linkages) are different in response to the foreign presence in manufacturing or in service sectors.
Moreover, the study further investigates the role of managerial skill and ownership in driving the
absorption capacity of the domestic firms. The positive horizontal spillovers are found to be associated
with the local firms which are private and/or with higher managerial skill.
END OF DAY 1
Day 2: March 20th 2012

Session 5A: Finance II (Mekong 1)
Chaired by Dr. Leila C. Kabigting, University of Guam-School of Business and Public Administration
CALENDAR EFFECTS IN THE PHILIPPINE STOCK MARKET

Prof. Catherine Kalayaan S. Almonte of the Financial Management Department, De La Salle University-
Manila (Philippines)
The returns of the Philippine stock market’s Composite Index (PSEi) were tested for conformity with the
weak form of market efficiency (Fama, 1970; Almonte, 2004) using daily returns from 2001 to 2010.
The analysis was made annually and cumulatively for each year until the year 2010 was reached. The
results revealed the existence of a day-of-the-week effect while the month-of-the-year effect was evidently
absent.
EVENT STUDY OF EARNINGS ANNOUNCEMENT AND FINANCIAL ANALYSIS OF BANKS

Dr. Leila C. Kabigting of the School of Business and Public Administration, University of Guam (U.S.A.)
The study investigated the impact of earnings announcement on stock returns of selected banks that have
operations in Guam using the event study methodology (Campbell, Lo, MacKinlay, 1997). Findings show
evidence that there was positive market reaction prior and after earnings announcements. The earnings
were affected by the economic uncertainties in the period covered which required banks to be more
conservative in investing, and be more liquid.
0900-1015 Session 5B: Graduate Student Presentations III (Mekong 2)

Chaired by Dr. Elizabeth Foma, University of Guam-School of Business and Public Administration
FAST FASHION QUADRANGLE (FFQ): AN ANALYSIS

Ms. Thanh Tu Nguyen (left photo), Ms. Van
Anh Doan (center photo), Ms. Elaine Vegafria
(right photo) and co-authors Dr. Michael
Angelo Cortez and Ms. Belinda Zagita Ng of
the Graduate School of Management,
Ritsumeikan Asia Pacific University (Japan)
During the past decades, fast fashion has
emerged significantly in the apparel industry.
Originated from the U.S. in 1980s, fast fashion
refers to designs that move swiftly from runway
to stores in order to capture the latest trends.
With the emergence of this sector worldwide,
an increasing number of researches have been conducted; which merely
emphasized on separate aspects such as management and marketing rather than evaluated the impacts of internal and external factors
on general performances. Taking a multidimensional perspective, our research paper provides an in-depth analysis about
performances of major fast fashion retailers. To achieve this goal, we evaluate the Fast Fashion Quadrangle (FFQ), which includes
Inditex Group (ZARA), Hennes &Mauritz (H&M), GAP Inc. (GAP), and Fast Retailing Inc. (Uniqlo). In this paper, we will use
quantitative and qualitative assessment of both primary and secondary resources to investigate the interaction of internal
competences and external occurrences on the performances of FFQ. Consequently, opportunities and risks for the industry will be
explored. Our expectation is that FFQ players will continue to grow owing to their characteristics of being trendy, affordable,
adaptive as well as because of the new market potentials and consumers’ dynamism. However, these characteristics are insufficient to
secure a sustainable performance due to the particular weaknesses of each player and the increasing competition within fast fashion
emporiums. Therefore, based on Michael Porter’s generic strategies, we anticipate that each player within FFQ will experience a
movement from their current market position to adapt to the changing business environment.
CULTURE AND THE GLOBALIZATION OF THE INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)
IN DEVELOPING COUNTRIES
Mr. Lasmin of the Graduate School of Management, Ritsumeikan Asia Pacific University (Japan)
How do countries` societal values influence their attitude toward the globalization of IFRS? Inspired by
Gernon & Wallace’s (1995) Accounting Ecology framework and drawing on DiMaggio & Powell’s (1983)
Institutional Isomorphism perspective, we reveal that national culture compared to economic pressures,
have stronger impacts on developing countries` decision to adopt or not to adopt IFRS. Specifically, we use
Hofstede`s cultural dimension of power distance, uncertainty avoidance, individuality, and masculinity as
predictors to IFRS adoption in 40 developing countries during 2005-2009. Using various regression
estimations in an integrative model that includes social and economic variables, we find that countries that
have high centralization of power, high conservatism, and high self orientation are not interested in
adopting IFRS. We also confirm that national accounting ecology of developing countries is not in
equilibrium.
PARTNERSHIP: AN EFFECTIVE APPROACH TO ENHANCING COFFEE VALUE CHAIN IN VIETNAM

Ms. My Hien Do of the Graduate School of International Development, Nagoya University (Japan) and
Foreign Trade University (Vietnam)
Partnership can not only help resolve many of the present difficulties that the coffee industry in Vietnam
faces; they also enhance the sustainable development of coffee cultivation through the combination of
knowledge obtained from the global market, customers, and international standards. Partnership is an
effective approach for reducing the difficulties in the Vietnamese coffee industry, and can be a useful
indicator to evaluate the sustainable development process in rural Vietnam. This paper focuses on mainly
the cooperation between the coffee farmers and coffee enterprises (here are international coffee buyers,
domestic processors and exporters) that help increase the income of coffee farmers, increase their
awareness of environment and enhance their knowledge, skills to improve their livings. Dak Lak
province, in the Central Highlands of Vietnam, accounts for more than half of the country’s coffee
production, with the Robusta variety dominating. Here, farmers face many risks, including vulnerabilities
from the market and the requirements of international standards. This paper aims to show how the cooperation between enterprises
help farmers in mobilizing their own recourses and improving their awareness of market requirements as well as getting used to
innovation, and the trend of development. Vietnamese farmers are eager to participate in activities pertaining to coffee certification
and sustainable coffee producing in order to reduce the risk of income fluctuation and improve their knowledge of coffee cultivation.
TECHNOLOGY, INSTITUTIONS AND PRODUCTIVITY: VIETNAMESE MANUFACTURING EVIDENCE

Mr. Dinh-Long Pham of the Doctoral Programme in Quantitative Economics, University of Kiel
(Germany) and Ton Duc Thang University (Vietnam)
This study analyzes the impacts of technology and institutions on productivity of manufacturing firms in
Vietnam. Some technological factors, for example, patent, license, labour training and educational level
of top manager are insignificant. However, indirect technological variables such as foreign ownership,
ISO certificate, owning a website and educational level of employee have positively significant effects on
firms’ productivity. There is no evidence that access to finance affects firms’ performance and other
institutional factors have different impacts depend on they are low or high productivity firms.

Session 6A: Environmental Issues (Mekong 1)
Chaired by Dr. Ning Li, University of Guam-School of Business and Public Administration
ENVIRONMENTAL INNOVATIONS AND FINANCIAL PERFORMANCE: THE CASE OF JAPANESE CHEMICAL

COMPANIES
Dr. Michael Angelo A. Cortez of the Graduate School of Management, Ritsumeikan Asia Pacific
University (Japan)
Earlier literature highlighted the role of automotive, electronics, and chemical manufacturing
companies in the disclosure of environmental performance. These industries were the early and
consistent adopters of sustainability or environmental reporting at the turn of the century presumably
due to the facilitating role of government regulation. Moreover, Japan is considered to have the best
practices due to the Environmental Accounting Guidelines promoted by the Ministry of Environment
with regards to sustainability reporting. Studies have contrasted the bi-directional relationships of the
variables environmental innovations and financial performance of Japanese automotive and electronics
companies. Revenues, profitability, firm size, business risk and equity have varying reverse causation
with environmental innovations. Automotive companies appear to have virtuous cycles than electronics
companies. While the two key industries comprise a majority of the Japanese manufacturing sector and
hence, a significant contributor to its economy, there are still questions unanswered considering the production pipeline. By
investigating the chemical manufacturing industry, which is an input to both the automotive and electronics industries, a grander
analysis could paint the relationships of the constructs and how they differ according to their contribution to the production pipeline.
I, therefore, revisit the constructs environmental innovations and financial performance with Japanese chemical manufacturing
companies as the subject of analysis. I explore the impact and direction of relationships of the constructs while attempting to relate to
earlier results for the automotive and electronics manufacturing companies. Japanese chemical companies appear to be less
susceptible to public scrutiny yet they are integrated to the sustainability pipeline of automotive and electronics companies. Hence,
they perform environmental innovations anyway even if the impact is to their financial performance is not as determinable as that of
automotive and electronics companies.
STATE OF CORAL REEFS: CASE STUDY OF OKINAWA ISLAND, JAPAN

Dr. Faezeh Mahichi (presenter) and co-authors Dr Ken Arii, Dr. Kazadi Sanga-Ngo and Dr. Shoko
Kobayashi of the College of Asia Pacific Studies, Ritsumeikan Asia Pacific University (Japan)
The tropical sea temperatures have been increasing in the past 100 years evitus, 2000 and at least
1-2 C water temperature rise is expected by 2100 as a result of atmospheric greenhouse gases
accumulation. This rise in temperature may indirectly increase the occurrence and the magnitude of
disease in organisms by altering the host susceptibility. Coral reef, often called “Tropical Rain Forests
under the Sea”, possesses an enormous diversity of organisms, comparable to that of rain forests. The
reef structures play costal protection role by minimizing the wave impact of storms and reports
indicate less damage in Asian Tsunami in 2004 in healthy reefs than in degraded reef areas. At the
same time, coral reefs are one of the most temperature sensitive ecosystems living close to their
thermal maxima, and thus are excellent examples of increased temperatures leading to higher disease susceptibility [Harvell, 2001].
Coral bleaching, first reported in 1998, is observed worldwide. It involves the expulsion of algal symbionts, and is believed to be the
consequence of long-term exposure to high water temperatures linked with the El Niño Southern Oscillation (ENSO) [Strong, 1998].
In addition to bleaching, epizootics affecting the corals have increased recently. The present study focuses on the status assessment of
coral reefs of the world and particularly in the Japanese Island of Okinawa in terms of research and monitoring centers,
developments of coral reefs bioindicators and biocriteria, governments’ initiatives and corals regeneration rates. The data for this
study have been gathered from the International Coral Reef Information Network (ICRIN), the International Coral Reef Initiative
(ICRI) and the Coral Reef Conservation and Research Center (WWF Japan). The research supports the establishment of the
framework for sustainable resource managements and conservation of corals.
HOW SEVERE IS THE IMPACT OF CLIMATE CHANGE ON CROP PRODUCTION IN THE

MEKONG DELTA-VIETNAM?
Dr. Huu Dung Nguyen, University of Economics Ho Chi Minh City (Vietnam)
The study used the Ricardian approach to examine the economic impact of climate change on crop
production in Mekong Delta, Vietnam. Net farm revenue is regressed against various explanatory
variables, including climate, soil, inundation, irrigation and other socio-economic variables to examine
their influence on variability on net farm revenues. The findings show that net farm revenues are affected
negatively by increasing in temperature and positively by increasing in precipitation. Under selected
climate scenarios in Vietnam, the study predicted that crop net revenue are expected to fall approximately
VND 500 billion in 2050; and by VND 670 to 1,300 billion by the year 2100.
1030-1130 Session 6B: Accounting II (Mekong 2)
Chaired by Dr. Akihiro Noguchi, Nagoya University-Graduate School of Economics-Economic
Research Center
MANAGEMENT ATTITUDES TOWARD ADOPTING INTERNATIONAL ACCOUNTING STANDARDS: HOW

JAPANESE MANAGEMENT ATTITUDES CHANGED IN THE PAST DECADES
Dr. Dan Hu of the Graduate School of Economics, Nagoya University (Japan)
This research investigate Japanese managers’ attitude toward the adoption of the IFRS in Japanese
companies and the changes in attitude over the past ten years after the Accounting Big Bang. The results
are as follows. (1) Japanese companies have still been great importance to the domestic stock market
after 1997. (2) The difference between Japanese accounting standards and the IFRS has been clearly
perceived by management. (3) There is growing consideration that the application of the IFRS for
separate and for consolidated financial statements of parent companies should be dealt with separately.
(4) Japanese companies have shown a negative attitude to adopting the IFRS. (5) Japanese managers
expected that the costs would exceed the benefits for adoption of the IFRS.
ACCOUNTING FOR ASSET RETIREMENT OBLIGATIONS OF SMALL AND MEDIUM-SIZED ENTITIES AFTER THE
TOHOKU-PACIFIC OCEAN EARTHQUAKE
Dr. Mineo Tsuji (presenter) and Mr. Muneaki Fujibayashi of the Graduate School of Economics, Osaka
Prefecture University
The disastrous earthquake and Tsunami on March 11, 2011 has caused great suffering to not only
large companies but also small and medium-sized entities (SMEs) in Japan. Shortage of electric power
obliges SMEs to replace some worse energy efficient equipments in use while the Japanese Act does
not require SMEs to account for asset retirement obligations. Some Tohoku local governments are
seeking investment funds to invest SMEs because the collateral values of their destroyed real estate do
not allow banks to loan. In case of refrigerated warehouse industry, accounting for asset retirement
obligations and accounting for provisions will help SMEs to deal with these problems. However, the
differences between the financial standards and the tax rules associated with them could often prevent
SMEs from record such a provision. Because a provision in excess of allowed for tax purpose would
not be tax deductible. In s sustainable a society, it would be better that accounting treatments of SMEs are the same as large
companies to protect environment.
IMPACT OF DIVERSITY ON THE CERTIFIED PUBLIC ACCOUNTING PROFESSION AND THE SUCCESSES AND
FAILURES OF AICPA INITIATIVES TO ADDRESS THE PROBLEM
Dr. Elizabeth Foma of the School of Business and Public Administration, University of Guam (U.S.A.)
This paper examined the impact of diversity in the Certified Public Accounting (CPA) profession and the
successes and failures of the American Institute of Certified Public Accountants (AICPA) initiatives to
address this issue. This paper examined current state of diversity in the CPA profession. While the actual
head count of minorities in the profession increased, the percentage of representation dropped. The
success of AICPA initiatives to address this issue has met with both success and failure. The success of
the initiative has been the ability to convince schools to seek more diversity in recruitment. The AICPA
initiatives failed because of lack of financial resources available to minorities to further their education
as well as lack of awareness. The paper also examined ways of encouraging minority interest in the CPA
profession. The paper also examined the benefits of the initiatives, current AICPA goals as well as future
challenges. Despite the several initiatives proposals and implementations to attract minorities into the
CPA profession, minority representation is still at its lowest. However, the future looks bright because
minority owned firms are increasing even though there is a decreasing enrollment of minority accounting
students in colleges. As the number of CPA firms increase, mentorship programs can be developed to help increase minority interest
in the accounting profession.
1130-1300 LUNCH BREAK AT PARKVIEW RESTAURANT

Session 7A: Special Topics I: Philanthropy and Leadership (Mekong 1)
Chaired by Dr. Leila C. Kabigting, University of Guam-School of Business and Public Administration
CORPORATE SOCIAL INITIATIVES IN THE PHILIPPINES: EXPERIENCES OF FOUR MAJOR CORPORATIONS

Prof. Raymund B. Habaradas of the Management and Organization Department, De La Salle University-
While philanthropy is still largely regarded as “icing on the cake” (Caroll, 1991), some large Philippine
companies have been engaged in philanthropic activities in light of the government’s failure to
adequately address social problems such as poverty, joblessness, and hunger. For some companies,
corporate philanthropy has evolved from simply transferring resources (i.e., corporate giving) to being
directly involved in community-based programs. When these corporate social initiatives (CSI) bring
“social and economic goals into alignment” and improve a company’s long-term business prospects,
they enhance the competitive context of the corporation (Porter & Kramer, 2002), and provide strong
justification for sustained philanthropic efforts. This paper presents the experience of four major
Philippine corporations in implementing CSIs that provide both social and business value, thus adding
to the empirical evidence supporting Porter and Kramer’s proposition.
AN ANALYSIS OF A SIGNALLING MODEL OF CORPORATE PHILANTHROPY FOR SELECTED PUBLICLY

LISTED PHILIPPINE BANKS
Prof. Rene B. Hapitan of the Financial Management Department, De La Salle University-Manila
(Philippines)
This study attempts to determine whether a signaling model of corporate philanthropy exists in the
Philippine banking industry. Using an index of philanthropy and testing it against various firm and
industry specific variables, the results affirm that advertising expense is a good signal of philanthropy.
However, philanthropic activity in the Philippine banking industry appears to be more dependent on
higher or increased revenues rather than a part of the bank’s overall strategy. Results further suggest
the need for more disclosure and higher philanthropic spending relative to revenues.
LEADERSHIP DEVELOPMENT IN JAPANESE COMPANY

Dr. Yuta Morinaga of the College of Business, Rikkyo University (Japan)
The purpose of this study is to grasp the actual condition of leadership development in Japanese
company. Our research questions are (1)What kinds of leadership behavior do the Japanese company
require? (2) What kinds of leadership development training have been done in the Japanese company?
The result of questionnaire research (N=101, 7.79％) showed three finding: (1) Japanese company
expected that the wide career stage of employees act leadership behaviors. (2) Leadership behavior that
was expected from Japanese companies differed between their career stages. (3) 85% of Japanese
companies provided their employees with certain kind of leadership development training.
LEADERSHIP IN SOLVING SOCIAL DILEMMAS: A FIELD EXPERIMENT IN MEKONG DELTA OF VIETNAM

Ms. Nghi Thanh Cong Truong of the Faculty of Development Economics, University of Economics Ho
Chi Minh City (Vietnam)
Bringing the lab experiment to the field, we use the experimental method to test the role of leadership in
solving social dilemmas in rural areas of Vietnam. Using the experiment designed by Levy (2011), we
examine two different types of recommendation: one coming from outside and one coming from leader of
community and two different types of leader: random leader and leader-by-voting. Examining these types
of leadership can help to understand whether leading through signaling can foster cooperation, whether
the leaders will mislead the group members to fulfill their private benefit and how group members
respond to leaders' behavior. The results of our study will provide understanding of the role of leader in
fostering communities’ cooperation and therefore have implications for environmental management
policy in rural areas of Vietnam, where formal institutions are ineffective and therefore cooperation
within communities is needed to enhance efficiency.
1300-1415 Session 7B: Economics (Mekong 2)
Chaired by Dr. Venus C. Ibarra, University of Guam-School of Business and Public Administration
EVALUATING THE MACROECONOMIC EFFECTS OF TAXES ON THE REMITTANCES OF SKILLED OVERSEAS

CONDITIONAL COOPERATION AND DISCLOSURE IN DEVELOPING COUNTRIES
Prof. Nam Khanh Pham (presenter), University of Economics Ho Chi Minh City (Vietnam) and co-
authors Dr. Peter Martinsson, University of Gothenburg (Sweden); Dr. Clara Villegas-Palacio
(Universidad Nacional de Colombia- Sede Medellín (Colombia).
Understanding the patterns behind people’s voluntary contributions to public goods is crucial for the
broader issues of economic and social development. By using the experimental design by Fischbacher et
al. (2001), we investigate distributions of contribution types in developing countries – Colombia and
Vietnam – and compare our findings with those previously found in developed countries. We also
investigate the effect of introducing disclosure of contribution on contribution types. Our experiments
show that, on average, the distributions of contribution types are similar both in the two countries and
compared to previous findings, except for free-riders, and overall remain unaffected by disclosure of
contributions.
FILIPINO WORKERS USING AN OVERLAPPING GENERATIONS MODEL

Dr. John Paolo R. Rivera of the Economics Department, De La Salle University-Manila (Philippines)
Labor migration has sizable economic impacts specifically to labor-sending countries such as the
Philippines. In the midst of temporary labor migration, any labor-sending economy can experience
brain drain, which can alter the economy’s production structure and redirect the country’s
comparative advantage. The exodus of highly trained professionals, without replacement, will lead to
brain drain in a country with limited access to quality higher education especially if the education costs
of these professionals have been subsidized by the state; hence, a substantial loss to society is incurred.
Likewise, the training costs of replacements can be reasonably substantial and may cause the reduction
of the productivity of workers left behind. Thus, this study developed an Overlapping Generations
(OLG) Model on the Philippine context that will discuss the management of skilled labor migration and assessing the macroeconomic
effects it entails. By incorporating how a tax on the income of skilled Filipino migrant workers abroad, as proposed by Bhagwati
(1976), affects the macroeconomy, this study provides an insight on the efficacy of its implementation. Simulation results have shown
that imposing the brain drain tax can enable the economy to achieve a higher steady state capital stock and steady state aggregate
income paths at the expense of lower future consumption with habit formation on the condition that the government will not spend all
the revenues from the brain drain tax on one generation. As such, for social planners, it is a toss between the welfare of the
households or macroeconomic growth and the welfare of the current generation or the succeeding generations.
THE CONTRIBUTION OF SOCIAL CAPITAL INTO THE ACTIVITIES OF REAL ESTATE COMPANIES IN
VIETNAM
Dr. Hoai Trong Nguyen (presenter) and Dr. Dien Thanh Huỳnh of the University of Economics Ho Chi
Minh City (Vietnam)
The study aims at exploring the structure of social capital and the activities of real estate companies in
Vietnam. It also analyzes the contribution of social capital in the activities of real estate
companies,Which suggest policies to help real estate companies use social capital to improve
performance, and assist the Government restrict the forms of negative social cohesion and help
companies develop forms of positive social cohesion. The research was conducted in two stages. The
first stage, in-depth interviews were used to build the scale and theoretical models. The second stage, a
sample of 262 real estate companies in Ho Chi Minh city of Vietnam was surveyed to test the theoretical
model. Structural equation modeling was used to analyze the data. The research results have shown that
social capital contributes to all the activities of real estate companies. It suggests policies to improve the
performance of the company through the use of social capital, and the macroeconomic policies to
restrict the formation of negative social cohesion, and support companies to develop the forms of positive social cohesion. The
research results suggested that real estate companies should be concerned and take more time for establishing relationships with
internal, external and leaders of business networks to serve business activities. Also the Government should issue policies to regulate
social capital on the real estate market in a positive way. Moreover, the findings also suggested the Association of real estate in
Vietnam should create values from the social network to serves the interests of the participants. This study is the first of its kind in
Vietnam, which explores the relationship between social capital with the business activities of the real estate companies in Vietnam.
Session 8A: Interdisciplinary (Mekong 1)
Chaired by Dr. Ansito Walter, University of Guam-School of Business and Public Administration
EXPLORING ENTREPRENEURIAL INTENTION AMONG BUSINESS STUDENTS: A COMPARATIVE STUDY OF

CAMBODIA AND VIETNAM
Dr. Thi Lan Huong Bui of CFVG, University of Economics Ho Chi Minh City (Vietnam)
Entrepreneurial activity and new venture creation have been recognized as a driving force for economic
growth not only in well developed countries but also in emergent economies. In this process,
entrepreneurial intention is considered as the first step leading to entrepreneurial action. Therefore,
developing entrepreneur intention to transform a latent entrepreneur into a nascent one is critical. This
topic had been for long time researched in North American and European context since the 1960s
(Davidsson, 1995; Autio, Keeley, Klofsten, Ulfsted, 1997; Drost, 2010). In the past decade, there was a
new interest of study about entrepreneurial intention in developing countries, especially in transitional
economies in Eastern Europe such as Bulgaria and Romania (Chu, Kara, Fiorentino, 2011; Romero,
Petrescu, Balalia, 2011) and in Asia (Seet, Seet, 2006; Azhar, Javaid, Rehman, Hyder, 2010; Zain,
Akram, Ghani, 2010; Ariff, Bidin, Ahmad, 2010; Mohamed, Aparna, 2011). However, its importance is
not highlighted in developing ASEAN members such as Cambodia and Vietnam where the private sector
has been contributing significantly to their economic development. In order to fill the gap of the empirical literature on
entrepreneurial intention, this research works aims to understand entrepreneurial intention among young business students residing
in Cambodia and Vietnam in a comparative study. , is critical. It will help policy makers and educators to design adequate business
education programs and supports aiming to push the young people to develop successfully their own business in the future.
IMMERSIVE SECURITY EDUCATION ENVIRONMENT (I-SEE)

Dr. Jungwoo Ryoo of the Division of Business and Engineering, Penn State Altoona (U.S.A.)
OpenSim (http://opensimulator.org/wiki/Main_Page) is a 3D virtual world accessible through an
Internet-based client program, similar to online role play games. It simulates everyday life activities of
the real world. Many organizations have explored the potentials of 3D virtual worlds as an educational
platform. OpenSim can be an effective experiential learning tool when used together with Problem-
Based Learning (PBL) techniques. In this paper, we share our experience in developing a PBL-based
curriculum to incorporate OpenSim in teaching computer/network security and privacy concepts.
AN INTRODUCTION ABOUT THE GREEN ACCOUNTING INFORMATION SYSTEM: A

NEW APPROACH IN THE ENVIRONMENT ACCOUNTING FIELD IN VIETNAM
Dr. Thi Hoang Minh Mai (left) and Mr. Quang Huy Pham (right),
University of Economics Ho Chi Minh City (Vietnam)
Environment is one of significant factors to the people and our life because
it is fundamentally joined to everything we require as human beings to
subsist. Many fields in the society are influenced by the environment. With
these reasons, the Vietnamese Government issued the Law on
environmental protection tax in 2010 to prove this essential matter.
Therefore, the organizations have utilized their tools to recording the
related transactions into the journals for taking an interest in the nature
conditions for substantial development. Based on the accounting aspects,
Vietnam has no theories about the environment accounting. Hence, this
article will provide some basic information and general picture about the green accounting information
system in the environmental condition. Moreover, the paper will analyze the relationship between the environment and company’s
output for application the environmental management system in the accounting system. However, this one only supplies the overall
contents about the environment accounting in Vietnam and this limitation will open further articles about the problem.
THE U.S. MILITARY BUILDUP IN GUAM: PERSPECTIVES OF UNIVERSITY OF GUAM –

SCHOOL OF BUSINESS AND PUBLIC ADMINISTRATION STUDENTS”
Dr. Ansito Walter (presenter) and Students in the Master of Public Administration Program of the
School of Business and Public Administration, University of Guam (U.S.A.)
The study will focus on the “Perspectives of University of Guam-School of Business and Public
Administration students on the US military buildup in Guam” It will review the literature and
investigate what students consider to be the five priority areas of opportunity for Guam in the U.S.
military buildup. The study will provide islander perspectives and recommendations for strategic
planning for Guam’s social, cultural, and economic needs and challenges.
Session 8B: Student Presentations (Mekong 2)
Chaired by Dr. Jungwoo Ryoo, Penn State Altoona and Mr. Lasmin, Ritsumeikan Asia Pacific University
CHALLENGES AND SOLUTIONS IN THE CLOUD SECURITY AUDITING

Ms. Mallory Gold (presenter) and co-author Dr. Jungwoo Ryoo of the Division of Business and
Engineering, Penn State Altoona (U.S.A.)
Cloud computing is one of the most innovative shifts of technology that society has made in all of history.
Making applications and networking available on the spot at one’s finger tips, cloud computing will
enhance the way society is able to compute forever. Because of this new breakthrough, cloud computing is
still in the process of being completely developed, so there are some noticeable flaws, especially security.
Cloud security auditing is used to reduce some of these security flaws of cloud computing, and make the
service a safer and reliable external source for companies to outsource their IT work.
ELECTRONIC MONEY ADOPTION: A COMPARATIVE STUDY BETWEEN THE U.S. AND

SOUTH KOREA
Mr. Nicholas Houanche (presenter) and co-authors Dr. Jungwoo Ryoo, Ms. Harleen Kaur Sangha and
Ms. Vintea Alvarez, Penn State Altoona (U.S.A.); Ms. Sangmee Kim and Ms. Chunyoung Jang
(presenters) and co-author Dr. Seok-Ju Chun of Seoul National University of Education (Korea)
In this study, we compare the status quo of e-money adoption between the U.S. and South Korea. South
Korea is a leader in its ingenious uses of e-money in various aspects of everyday living while the e-
money adoption is still quite sluggish in the U.S. due to security concerns about frauds and white collar
crimes. E-money adoption is in South Korea is mostly government-led while in the U.S., e-money is
slowly gaining a momentum in the private sector, especially in e-commerce. In this study, we will
compare and contrast the overall e-money adoption levels in both countries and discuss the benefits and potential pitfalls of early and
more prudent slow paced adoption.
THE IMPLICATIONS OF GOVERNMENT’S POVERTY REDUCTION PROGRAMS ON THE STATES OF POVERTY

AND HUNGER IN THE PHILIPPINES
Mr. Paolo O. Reyes (presenter) and Dr. John Paolo R. Rivera, De La Salle University-Manila
(Philippines); and co-authors Ms. Mazel G. Pizarro and Ms. Nashrine B. Aliping, Bangko Sentral Ng
Pilipinas (Philippines)
The incidence of poverty has been a prevalent social issue in the Philippines. Poor living conditions are
alarming and current measures of poverty incidence are high. Access to basic needs and assets becomes a
struggle for households especially to those who belong to the lower income distribution. Even food has
become a luxury for some. With income as a measure of individual welfare and the vital factor that links
food consumption and poverty, as real income decreases, more households are subjected to poverty and
hunger. Previous studies covered poverty statistics and its continuous revisions to capture the real state of
poverty in the country which is inclusion of food distribution in poverty measures. This study aims to
exposit the existence of food inequality in the Philippines, both in national and regional level. Likewise,
this study will examine the source of food inequality by identifying factors through estimation of Engle Curves using the Generalized
Methods of Moments (GMM). Lastly, this study will also evaluate the effectiveness of government poverty alleviation programs in
addressing the state of hunger through the use of a discrete choice model employing Maximum Likelihood Estimation (MLE). This will
be evaluated on a provincial level to examine the effectiveness of implemented programs in detail with regards to household
characteristics. Results provide a picture on how deep food inequality go and how this should be addressed by policymakers. Also,
results will provide a distinct framework for authorities in gauging how to address implementation of poverty alleviation programs.
ENTREPRENEURIAL TEAM FORMATON AS KNOWLEDGE MANAGENT: A CASE

STUDY OF ALBIREX NIIGATA, JAPANESE PROFESSIONAL FOOTBALL CLUB
Prof. Kazuyoshi Maruyama of the Graduate Institute for Entrepreneurial Studies (Japan)
This study examines how the entrepreneurial team evolved to the company organization in the context of
a case study of Albirex NIIGATA, which is a Japanese Professional Foot ball club. This study aims to
answer the major research question of “How did the entrepreneurial team evolve to the company
organization?” as well as three subsidiary research questions: (1) How was the entrepreneurial team
created? (2) How did the company organization emerge? and (3) What kind of knowledge and how was
it used by the entrepreneurial team in its evolution process? The creating and managing process of
team, organization and knowledge is clarified through the analysis of this case, and theoretical and
practical implications for entrepreneurship and by knowledge management in this club’s
entrepreneurial process are suggested.
DESTINATION IMAGE OF MUI NE BAY PERCEIVED BY RUSSIAN TOURISTS

Mrs. Dieu Hang Tran (presenter) and Dr. Thi Lan Huong Bui of CFVG, University of Economics Ho Chi
Minh City (Vietnam)
Vietnam tourism industry has been recovering with 6 million international arrivals in 2011 after
witnessing a recession since 2008. Along with the increasing number of international arrivals, the
visitors-mix has been also restructured with the emergence of the Russian inbound market which is
considered as a highly yielded market after the Japanese market. Russian market is characterized of
longer length of stay and greater spending compared with visitors coming from other European
countries. Their favorite tourism destinations are warm countries with beaches to escape from their cold
winter for a while. When traveling in Vietnam, they usually choose Ha Long Bay, Nihau Tran, and Mui
Ne in which Mui Ne has been their first choice. Despite the growing interest for this new market for Mui
Ne as a tourism destination, no research work has been conducted to explore their perception and
attitudes towards this so called “Russian village”. This paper attempts to identify attributes of Mui Ne destination image perceived
by Russian tourists and to measure level of importance of key attributes contributing to Mui Ne image. The understanding of positive
and negative destination image components is very useful to help destination marketers to design an effective tourism marketing
strategy enhance Russian tourists satisfaction and hence loyalty towards Mui Ne bay.

1530-1645 Session 9: Special Topics II (Mekong 1)
Chaired by Dr. Elizabeth Foma, University of Guam-School of Business and Public Administration
THE DAY-OF-THE-WEEK EFFECT IN SELECTED BALANCED FUNDS IN THE

PHILIPPINES
Prof. Catherine Kalayaan S. Almonte of the Financial Management Department, De La Salle University-
The returns of selected balanced funds in the Philippines were tested for conformity with the day-of-the-
week effect. Annual and cumulative analyses (Almonte, 2012) were conducted for the years 2006 to
2010. The results of the Kruskal-Wallis Test indicate that, for at least one fund, Thursday returns are
higher than the returns of other days in the week.
REVISITING FINANCIAL INTEGRATION OF INTEREST RATES OF ASEAN5+3: 2000 –

2011
Dr. Leila C. Kabigting (left photo) of the School of Business and Public
Administration, University of Guam (U.S.A.); and Prof. Rene B. Hapitan
(right photo) of the Financial Management Department, De La Salle
University-Manila (Philippines)
This seeks to determine the degree and nature of financial integration
among the ASEAN 5+ 3 countries: Indonesia, Philippines, Malaysia,
Singapore, Thailand, Japan, South Korea and China. While numerous
studies have been made on this subject matter, recent events in the European
Union point to a revisiting on the importance of stability of currencies and
interest rates as an integral part of financial integration. The results reveal
increasing levels of integration within the region as a whole, but bilateral
initiatives that will develop the capital and investment flows should be pursued by some countries.
FRACTURED REALITY: MULTI-TASKING IN THE FUTURE

Dr. Ron L. McNinch of the School of Business and Public Administration, University of Guam (U.S.A.)
This paper will discuss the consideration that as technology develops, individuals may be able to perform
several distinct tasks simultaneously as separate concurrent realities. A number of specific aspects of this
concept will be presented in this paper to include elemental effects on life span, life quality and
technology. This concept has strong implications for business and government in the future.
1645-1700 Closing Session (Grand Mekong Ballroom 1 and 2)
WELCOME REMARKS BY CONFERENCE CO-CHAIRS AND EXCHANGE OF GIFTS
Dr. Maria Claret Mapalad-Ruane (Conference Co-Chair), University of Guam-School of Business and Public Administration (U.S.A.)
Dr. Hoai Trong, University of Economics Ho Chi Minh City (Vietnam)
Dr. Akihiro Noguchi (Conference Co-Chair), Nagoya University-Graduate School of Economics-Economic Research Center (Japan)
Dr. Jungwoo Ryoo, on behalf of Dr. Barbara A. Wiens-Tuers (Conference Co-Chair), Penn State Altoona-Division of Business and
Engineering (U.S.A.)
END OF CONFERENCE
LIST OF CONFERENCE PARTICIPANTS

LAST/FAMILY FIRST/GIVEN
NAME (TITLE) NAME(S) UNIVERSITY EMAIL COUNTRY
1 Alcantara (Dr.) Lailani Ritsumeikan Asia Pacific University lanipark@apu.ac.jp Japan
2 Almonte (Ms.) Catherine De La Salle University catherine.almonte@dlsu.edu.ph Philippines
3 Bui (Dr./Mrs.) Thi Lan Huong University of Economics HCMC lanhuong@cfvg.org Vietnam
4 Bui (Dr/Mr.) Trang Thanh University of Economics HCMC trang_buithanh@yahoo.com Vietnam
5 Cantoria (Dr.) Filomena University of Guam emcee0812@gmail.com Guam
6 Capindo (Ms.) Bernie University of Guam bernie.capindo@gmail.com Guam
Cooper Nurse
7 (Mr.) Ramsay University of Guam ramsay.cooper.nurse@gmail.com Guam
8 Cortez (Dr.) Michael A. Ritsumeikan Asia Pacific University cortezm@apu.ac.jp Japan
9 Cudia (Prof.) Cynthia De La Salle University cynthia.cudia@dlsu.edu.ph Philippines
10 Do (Ms.) MyHien Nagoya University myhien@mbr.nifty.com Japan
11 Doan (Ms.) Van Anh Ritsumeikan Asia Pacific University vanado09@apu.ac.jp Japan
12 Estrellado (Ms.) Hazel University of Guam zel1031@gmail.com Guam
13 Foma (Dr.) Elizabeth University of Guam drmayuk@yahoo.com Guam
14 Fujibayashi (Mr.) Muneaki Osaka Prefecture University mune1965@yahoo.co.jp Japan
15 Futamura (Ms.) Masako Nagoya University pine52@hotmail.co.jp Japan
USA
16 Gold (Ms.) Mallory Penn State Altoona mvg5120@psu.edu (Pennsylvania)
17 Habaradas (Dr.) Raymund De La Salle University raymund.habaradas@dlsu.edu.ph Philippines
18 Hapitan (Prof.) Rene De La Salle University rene.hapitan@dlsu.edu.ph Philippines
19 Ho (Mr.) Tien Viet University of Economics HCMC hvtien@ueh.edu.vn Vietnam
20 Hou (Dr.) CongCong Hokuriku University thankyou2c@yahoo.co.jp Japan
USA
21 Houanche (Mr.) Nicholas Penn State Altoona nqh5042@psu.edu (Pennsylvania)
22 Hu (Dr.) Dan Nagoya University kotan@soec.nagoya-u.ac.jp Japan
23 Huyhn (Mr.) Dien Thanh University of Economics HCMC thanhdien82@yahoo.com Vietnam
24 Ibarra (Dr.) Venus University of Guam vcibarra@uguam.uog.edu Guam
Seoul National University of
25 Jang (Ms.) Chunyoung Education sed6344@naver.com South Korea
26 Kabigting (Dr.) Leila University of Guam lckabigting@uguam.uog.edu Guam
27 Kasai (Dr.) Naoki Shiga University n-kasai@biwako.shiga-u.ac.jp Japan
LAST/FAMILY FIRST/GIVEN
NAME (TITLE) NAME(S) UNIVERSITY EMAIL COUNTRY
Seoul National University of
28 Kim (Ms.) Sangmee Education sangchu0206@nate.com South Korea
29 Lasmin (Mr.) Ritsumeikan Asia Pacific University lasmin007@gmail.com Japan
30 Li (Dr.) Ning University of Guam nli@uguam.uog.edu Guam
31 Lim (Mr.) Edralin De La Salle University edralin.lim@dlsu.edu.ph Philippines
USA
32 Luong (Ms.) Lina Dominican University of California lina.luong@students.dominican.edu (California)
33 Mahichi (Dr.) Faezeh Ritsumeikan Asia Pacific University fmahichi@apu.ac.jp Japan
34 Mai (Dr./Ms.) Thi Hoang Minh University of Economics HCMC hminh09@gmail.com Vietnam
35 Makasiar (Mrs.) Thelma Attending on personal capacity Philippines
Maruyama Graduate Institute for
36 (Prof.) Kazuyoshi Entrepreneurial Studies Japan k-maru@jaist.ac.jp Japan
37 McNinch (Dr.) Ron University of Guam govguam@gmail.com Guam
38 Morinaga (Dr.) Yuta Rikkyo University morinagayut@rikkyo.ac.jp Japan
39 Mustafa (Dr.) Hanefah Universiti Sains Islam Malaysia mustafa@usim.edu.my Malaysia
40 Nguyen (Dr./Mr.) Hoai Trong University of Economics HCMC hoaianh@ueh.edu.vn Vietnam
41 Nguyen (Dr./Mr.) Huu Dung University of Economics HCMC nguyenhuudungiss@yahoo.com Vietnam
Nguyen
42 (Dr./Pres.) Phong Dong University of Economics HCMC phongnd@ueh.edu.vn Vietnam
43 Nguyen (Mr.) Dan University of Guam dan.nguyen@nanbo.com Guam
44 Nguyen (Mr.) Phuong University of Economics HCMC nphuong@cfvg.org Vietnam
45 Nguyen (Mrs.) Hang Thu University of Economics HCMC nthuhang@hotmail.com Vietnam
46 Nguyen (Ms.) Thanh Tu Ritsumeikan Asia Pacific University thnguy09@apu.ac.jp Japan
47 Noguchi (Dr.) Akihiro Nagoya University a.noguchi@soec.nagoya-u.ac.jp Japan
Maria Teresa
48 O'Brien (Prof.) (Terrie) University of Guam theobs@guam.net Guam
49 Pham (Dr./Mr.) Nam Khanh University of Economics HCMC khanhnam@ueh.edu.vn Vietnam
50 Pham (Mr.) Dinh Long Kiel University pham-long@economics.uni-kiel.de Germany
51 Pham (Mr.) Huy Quang University of Economics HCMC pqh.huy@gmail.com Vietnam
52 Pham (Ms.) Ngoc Thi Bic Kiel University pham-thi@economics.uni-kiel.de Germany
53 Provido (Ms.) Ronalisa University of Guam bingprovido1@yahoo.com Guam
54 Reyes (Mr.) Paolo De La Salle University paoloocamporeyes@gmail.com Philippines
55 Rivera (Dr.) John Paolo De La Salle University john.paolo.rivera@dlsu.edu.ph Philippines
56 Romagos (Mr.) Christian Attending on personal capacity cpromagos@gmail.com Philippines
57 Ruane (Dr.) Maria Claret University of Guam mcruane@uguam.uog.edu Guam
USA
58 Ryoo (Dr.) Jungwoo Penn State Altoona jryoo@psu.edu (Pennsylvania)
59 Salas (Dr.) Marilyn University of Guam mcsalas@uguam.uog.edu Guam
USA
60 Sooreea (Dr.) Rajeev Dominican University of California rajeev.sooreea@dominican.edu (California)
61 Tran (Mrs.) Hang Dieu University of Economics HCMC dieu_comet@yahoo.com Vietnam
Truong
62 (Prof./Ms.) Nghi Thanh Cong University of Economics HCMC tct.nghi@ovs-vietnam.org Vietnam
63 Tsuji (Dr.) Mineo Osaka Prefecture University tsuji@eco.osakafu-u.ac.jp Japan
64 Valencia (Ms.) Gizzele University of Guam valencia@gmail.com Guam
65 Vegafria (Ms.) Elaine Ritsumeikan Asia Pacific University elaive09@apu.ac.jp Japan
66 Vo (Prof./Ms.) Thi Quy University of Economics HCMC quy@ueh.edu.vn Vietnam
67 Walter (Dr.) Ansito University of Guam ansitowalter@gmail.com Guam
PUBLISH YOUR CONFERENCE PAPER IN A PEER-REVIEWED JOURNAL
Dear Authors:
One benefit of presenting your paper at this conference is the opportunity to have it considered
for publication in the peer-reviewed, Cabell-listed Journal of International Business Research
(JIBR), which is published by the Allied Academies and carries ISSN 1544-0230
http://www.alliedacademies.org/Public/Journals/JournalDetails.aspx?jid=15. The JIBR
Editorial Board will give your manuscript its utmost consideration, according to the following
schedule. (Note that these deadlines are definite and no late submissions will be considered.
Also, incorrectly formatted submission will not be accepted.):
April 20th – 30th Your manuscript, formatted according to the publisher’s guidelines, must be
submitted as an MS Word file (.doc) by email to mcruane@uguam.uog.edu (subject title:
Submission for JIBR).
June 30th You will be notified of the editors’ decision.
July 31st Authors of accepted papers must make all required revisions and submit final
manuscripts by this deadline. Also, Allied Academies requires all authors to fill out and
submit the “Author’s Warranty” form (also known as “Permission to Publish Paper”) before
it can publish your paper. In addition, all authors must become members of the Academy for
Studies in International Business (one-year membership fee $75 per author). Members will
receive a PDF version of the journal which contains their paper(s). Printed copies of the
journal must be ordered and paid for separately. For more information, visit
www.alliedacademies.org or email Executive Director, Mr. Trey Carland, at
info@alliedacademies.org.
Thank you for your participation in our conference as paper authors and presenters.
Best regards from the JIBR Co-Editors,
Maria Claret M. Ruane, Ph.D. Barbara A. Wiens-Tuers, Ph.D.

University of Guam Penn State Altoona
School of Business and Public Administration Division of Business and Engineering
mcruane@uguam.uog.edu baw16@psu.edu
ABOUT THE CONFERENCE ORGANIZERS/SPONSORS
UNIVERSITY OF GUAM-SCHOOL OF BUSINESS AND PUBLIC ADMINISTRATION
http://www.uog.edu/dynamicdata/SchoolofBusinessandPublicAdministration.aspx?siteid=1&p=115
The mission of the School of Business and Public Administration (SBPA) is:
 To excel as the regional center for education and development of
professionals and leaders for business and government, entrepreneurial
managers and socially responsible leaders.
 To serve as a community resource for research, service and the
dissemination of knowledge to individuals and organizations within the
region.
In its mission commitment to teaching, service and research, SBPA is dedicated
to the success of its students by providing quality bachelor's and master's degree programs in business administration, criminal justice
and public administration with concentration appropriate to the region. The School is a repository of knowledge for economic and
business issues, where scholarship and service support and enhance its educational programs. The School encourages faculty and
students to undertake applied research and provide community and university services for the benefit of business and public agencies
in the region. The School plays an important role in providing needed services to the community and university through small
business development, conferences, seminars, and professional consulting to business and government. The University of Guam has
received specialized accreditation for its business programs through the International Assembly for Collegiate Business Education
(IACBE), located in Olathe, Kansas.
PENN STATE ALTOONA-DIVISION OF BUSINESS AND ENGINEERING

http://www.aa.psu.edu/Academics/be.asp
Penn State Altoona, a scenic campus of 157 acres, is just 45 miles from the University Park
campus. Enrolling approximately 4,000 students, Penn State Altoona offers a unique
residential undergraduate experience by combining a small-college atmosphere within the
context of a major research university. Small classes taught by experienced professors in a
friendly setting provide students with the opportunity to complete baccalaureate majors at
Penn State Altoona. Penn State Altoona also offers the first two years of course work for
more than 180 Penn State majors, which can be completed at other Penn State locations.
The Division of Business and Engineering at Penn State Altoona is a strong, dedicated group
of faculty and staff engaged in top-notch research and exceptional teaching. We offer high-quality, accredited, diverse programs,
exciting student activities and modern facilities. Our deep dedication to teaching enables our students to excel in the fields of business,
engineering, engineering technology, or information sciences. (Photo by Roseanna Shumkas)
NAGOYA UNIVERSITY-GRADUATE SCHOOL OF ECONOMICS-ECONOMIC RESEARCH CENTER

http://www.nagoya-u.ac.jp/en/
Located in the center of Japan, Nagoya is the heart of the country's business and industrial
network. Economic Research Center of the Graduate School of Economics at Nagoya
University was established in 1926 as Industrial Research Bureau affiliated with Nagoya
Commercial College, which became School of Economics at Nagoya University. Economic
Research Center serves the society by conducting theoretical and empirical research on
economics, management, and accounting. It conducts research on Asia by cooperating with
other research centers in Nagoya University and with other universities in Asia, and conducts
joint research projects with the central and local government, and business, by inviting
researchers.
UNIVERSITY OF ECONOMICS HO CHI MINH CITY

http://www.ueh.edu.vn/Default.aspx?PageId=9a416a84-eae2-4537-a39e-9cd47f99c35c
The University of Economics Ho Chi Minh City (UEH) nis a higher educational
institution where students can find highly qualified academic programs in the science
of economics and business administration. UEH’s vision is to become one of the most
reliable and prestigious center for education, research and consultancy in the science of
economics and business administration in Asia by the year 2020. Its core values
include understanding the needs of students and the society; transferring results of
scientific research to institutions and corporations; developing groups of highly
professional, dynamic, responsible and virtuous staff ; stimulating technological
application in the working, teaching and learning ambiences creatively; and taking
pride and developing UEH’s traditional values.

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ICBEIT 2012 HCMC

INTERNATIONAL CONFERENCE ON BUSINESS, ECONOMICS AND INFORMATION TECHNOLOGY

DOING BUSINESS IN THE GLOBAL ECONOMY

ORGANIZED AND SPONSORED BY

March 19th 2012

Best regards from the Conference Co-Chair,

Maria Claret Mapalad-Ruane, Ph.D.

Barbara A. Wiens-Tuers, Ph.D.

Akihiro Noguchi, D.Econ.

Hòai Trong Nguyễn, Ph.D.

* Good morning ** Thank you very much

Day 1: March 19th 2012

0900-1000 Opening Session (Grand Mekong Ballroom 1 and 2)

WELCOME REMARKS BY CONFERENCE CO-CHAIRS AND SPECIAL GUESTS

Dr. Maria Claret Mapalad-Ruane (Conference Co-Chair), University

Dr. Phong Dong Nguyen, University of Economics Ho Chi Minh City

Dr. Jungwoo Ryoo (left photo) on behalf of Dr. Barbara A. Wiens-

Dr. Akihiro Noguchi (Conference Co-Chair), Nagoya University

FACTORS INFLUENCING THE DEVELOPMENT OF MARKETING CONSULTING

SUKUK: GLOBAL ISSUES, CHALLENGES AND OPPORTUNITIES

POLITICAL LEADERS IN THE STRUGGLE FOR INDEPENDENCE IN MICRONESIA

1200-1330 LUNCH BREAK AT PARKVIEW RESTAURANT

THE DETERMINANTS OF CORPORATE CAPITAL STRUCTURE: EVIDENCE FROM JAPANESE

THE INFLUENCE OF SWITCHING TRIGGERS ON CUSTOMER LOYALTY

THE AGANA MARKET PLACE: A CASE STUDY

1430-1530 Session 3 (concurrent sessions)

ACCOUNTING FOR EQUITY AND THE STATEMENT OF CAPITALIZATION AT FAIR

1430-1530 Session 3B: Graduate Student Presentations I (Mekong 2)

GUAM DOCTORS’ CLINIC: A CASE STUDY ON OPERATIONS MANAGEMENT

1530-1545 COFFEE BREAK

1545-1645 Session 4 (concurrent sessions)

AN ANALYSIS OF THE ANTIBIOTIC INDUSTRY: AN INNOVATOR’S DILEMMA?

THE GLOBALIZATION OF NORTHERN CALIFORNIA’S BIOTECHNOLOGY INDUSTRY

1545-1700 Session 4B: Graduate Student Presentations II (Mekong 2)

ANALYSIS OF THE REASONS FOR CLASSIFYING MINORITY INTEREST AS LIABILITIES ON THE

SHORT TERM MOMENTUM IN THE VIETNAMESE STOCK MARKET

0900-1015 Session 5 (concurrent sessions)

CALENDAR EFFECTS IN THE PHILIPPINE STOCK MARKET

EVENT STUDY OF EARNINGS ANNOUNCEMENT AND FINANCIAL ANALYSIS OF BANKS

0900-1015 Session 5B: Graduate Student Presentations III (Mekong 2)

FAST FASHION QUADRANGLE (FFQ): AN ANALYSIS

PARTNERSHIP: AN EFFECTIVE APPROACH TO ENHANCING COFFEE VALUE CHAIN IN VIETNAM

TECHNOLOGY, INSTITUTIONS AND PRODUCTIVITY: VIETNAMESE MANUFACTURING EVIDENCE

1015-1030 COFFEE BREAK

ENVIRONMENTAL INNOVATIONS AND FINANCIAL PERFORMANCE: THE CASE OF JAPANESE CHEMICAL

STATE OF CORAL REEFS: CASE STUDY OF OKINAWA ISLAND, JAPAN

HOW SEVERE IS THE IMPACT OF CLIMATE CHANGE ON CROP PRODUCTION IN THE

MANAGEMENT ATTITUDES TOWARD ADOPTING INTERNATIONAL ACCOUNTING STANDARDS: HOW

1130-1300 LUNCH BREAK AT PARKVIEW RESTAURANT

CORPORATE SOCIAL INITIATIVES IN THE PHILIPPINES: EXPERIENCES OF FOUR MAJOR CORPORATIONS

AN ANALYSIS OF A SIGNALLING MODEL OF CORPORATE PHILANTHROPY FOR SELECTED PUBLICLY

LEADERSHIP DEVELOPMENT IN JAPANESE COMPANY

LEADERSHIP IN SOLVING SOCIAL DILEMMAS: A FIELD EXPERIMENT IN MEKONG DELTA OF VIETNAM

EVALUATING THE MACROECONOMIC EFFECTS OF TAXES ON THE REMITTANCES OF SKILLED OVERSEAS

FILIPINO WORKERS USING AN OVERLAPPING GENERATIONS MODEL

EXPLORING ENTREPRENEURIAL INTENTION AMONG BUSINESS STUDENTS: A COMPARATIVE STUDY OF

IMMERSIVE SECURITY EDUCATION ENVIRONMENT (I-SEE)

AN INTRODUCTION ABOUT THE GREEN ACCOUNTING INFORMATION SYSTEM: A

THE U.S. MILITARY BUILDUP IN GUAM: PERSPECTIVES OF UNIVERSITY OF GUAM –