Theoretical Basis of Competitiveness of Financial Leasing Companies in Vietnam

From there, build a theoretical framework, analytical framework, and concepts to form an outline for the discussions. Through the results of group discussions and the contributions of experts, conduct preliminary research with the aim of adjusting and supplementing the scales, observation variables, and completing the questionnaires to serve the official research process.

- Primary data

With primary data, the author collected by direct interview method, sending evaluation forms via mail, email. The scope to collect survey data from leaders, experts, specialists at CTTC companies in Vietnam, experts, teachers in the financial sector working at financial institutions, commercial banks, universities and retired but still doing scientific research, through a detailed questionnaire built for the study. The purpose is to have data to measure the assessment of the impact level of internal factors on the competitiveness of CTTC companies in Vietnam. Thereby verifying the model and the hypotheses raised, related to the research model.

4.2. Data analysis and processing methods

Maybe you are interested!

- Descriptive statistics method:

Apply to describe the general conditions and development potential of the CTTC industry in Vietnam, determine the current status of the CTTC industry. Evaluate the level of competition and competitiveness of CTTC companies in Vietnam.

- Expert method:

Synthesize the opinions of experts in the field of CTTC as well as financial institutions in Vietnam, on the capacity of CTTC companies in Vietnam. The purpose is to help the author confirm the nature of the research problem of the topic, to be able to select the theoretical basis, propose a research model, build a scale, and put forward research hypotheses.

- Questionnaire survey method:

The purpose is to survey and evaluate the current status of human resources of CTTC companies in Vietnam.

- Quantitative method:

With the quantitative method, it helps to confirm the components as well as the value and reliability of the scale, on the factors affecting the competitiveness of CTTC companies in Vietnam, through SPSS and AMOS software, with the following steps: Cronbach's Alpha reliability test; Exploratory factor analysis (EFA); Confirmatory factor analysis (CFA); Using structural equation modeling (SEM) to test the model and research hypotheses. Using Bootstrap to test the sustainability of the estimates in the research model; Testing T-Test to determine if there is a difference in the opinions of expert groups on the competitiveness of the CTTC industry.

- Comparative analysis method:

Analyzing from the current situation and results, comparing the influence of factors on the competitiveness of CTTC companies, comparing the capacity of factors of CTTC companies with other financial institutions such as banks and finance companies. In order to clarify the competitiveness of CTTC companies in Vietnam.

5. Contributions of the thesis

- In the study, the work of systematizing the theory of competitiveness, especially of a company, was carried out. A collection of models to determine the competitiveness of a company in general, as well as the competitiveness models of CTTC companies. The purpose is to find gaps in previous studies on the issue of factors affecting the competitiveness of CTTC companies.

- The study contributes to identifying internal factors affecting the competitiveness of CTTC company, from inheriting research results and combining evaluation opinions, discussions, and practical surveys, to supplement the factors.

new factors for the research model, such as: Price, Risk Management. In which, Price is calculated by the factors: Interest rate, Margin, Asset price; For Risk Management, it is necessary to manage the factors: Appraisal, Debt collection, Asset management. Helps to implement a competitive price strategy, while managing risks to preserve capital and develop at the lowest cost.

- The study proposed a model of internal factors affecting the competitiveness of CTTC companies in Vietnam, identifying internal factors affecting the competitiveness of CTTC companies in Vietnam. Among them are Price (GC), Risk Management (RR), which are new factors in the research model.

- To ensure accuracy, the study also conducted quantitative research with measurement, testing, and confirmation of the exact internal factors affecting the competitiveness of CTTC companies in Vietnam, compared with the proposed hypothesis.

- Through the results and discussion of the results, analysis of the current situation, the study has proposed implications, policies and recommendations to improve internal factors, according to the level of impact on competitiveness, to strengthen the internal strength of CTTC companies to improve the competitiveness of CTTC companies in Vietnam.

- The research results also contribute to the scientific basis for further research in the field of CTTC. Create a theoretical basis and a complete foundation for relevant agencies, organizations and individuals to refer to, to develop management policies and strategies in economic development for business units as well as for the country.

6. Thesis layout

To address the content of the research issues, this thesis is structured into 5 chapters, specifically as follows:

Chapter 1: Overview of the research problem

Chapter 2: Theoretical basis of competitiveness of financial leasing companies in Vietnam

Chapter 3: Research Design

Chapter 4: Results and Discussion

Chapter 5: Conclusion and policy implications

CHAPTER 1

OVERVIEW OF THE RESEARCH PROBLEM

At the beginning of the research process, the author gradually searched, synthesized, analyzed, and evaluated in a comprehensive and systematic way previous research works, which are considered the foundation for the author's research on the topic. In order to help the author systematize domestic and foreign research issues related to the topic.

1.1. Overview of studies on factors affecting competitiveness in general and of financial leasing companies in particular

During the research process, the author has compiled many research works on NLCT in other countries as well as in Vietnam. It shows that scientists have been interested in and researched to present viewpoints, concepts, and specific models on NLCT. Including studies with viewpoints according to schools, levels, and specific studies for each industry, each field on factors affecting NLCT of companies in general and CTTC companies in particular.

1.1.1. Studies on factors affecting competitiveness

The views on NLCT according to Classical, Neoclassical and Modern have shown the differences in NLCT through each period and the views of research schools, specifically:

- Classical

The concept of the invisible hand theory of Adam Smith (Scotland) is that each party participating in free trade in the international arena, can gain benefits by specializing in the production of goods in which they have an absolute advantage. Therefore, let every country export the goods that they produce at the lowest cost and import the goods that they produce at the highest cost. With David Ricardo (England): A country can benefit from

trade with countries, even if they do not have an absolute advantage over their trading partners. They only need to have a relative advantage in the products sold in other countries. According to the trade theory of Eli Heckscher - Bertil Ohlin (Sweden), a country will specialize in producing and exporting certain goods, requiring the use of production factors that are favorable and abundant in the localities of that country, such as capital or labor advantages.

Thus, according to the classical school, researchers believe that: Countries, enterprises, and businessmen should determine their advantages, such as capital advantages, labor advantages, cost advantages, sometimes just relative advantages to carry out production or trade, which will bring greater efficiency and benefits.

- According to neoclassical school

According to the effective competition theory of John M. Clark (USA), competitive advantage is due to the company's innovations. Those initiatives and innovations will promote competitive enterprises. According to the marketing behavior theory of Wroe Alderson (USA), there are six potential sources of competitive advantage of a product, such as: market segmentation, communication (advertising), customer approach (choosing distribution channels), product development, process improvement and product improvement. According to the Austrian scholar - Ludwig von Mises (Austria), market competition is an automatic dynamic process and not a specific market structure. The trend towards market equilibrium is the result of business activities. A business wins or loses in competition, depending on the strength of the business's capabilities and the level of supply that the business provides to meet the needs of the market. According to the evolutionary economics of Joseph A. Schumpeter (Austria): The long-term survival of corporations in the market, is their continuous adjustment to the changing environment, mainly due to the search and creative recombination of new resources.

The ability to innovate is the key to gaining a competitive advantage over rivals. The ability to create new solutions and the tendency to take risks, which involve testing those solutions in the market, emphasize the process of competition and entrepreneurship. The difference between the level of innovative capacity and business results, leads to differences in the competitive position of any economic unit. According to the institutional economics stream of Friedrich List Max Weber James Buchanan (USA), in addition to economic factors, the competitiveness of an enterprise is influenced by social institutions.

For researchers of the Neoclassical school, there have been more detailed and authentic assessments of the capacity of business organizations. They have proposed specific tasks to measure the level of success through those tasks, such as: the internal strength of a business unit is to know how to segment the market, advertise, distribute,... At the same time, that organization must be creative and flexible according to social institutions, such as: state agencies, unions, financial organizations,... Researchers also recommend that business organizations must know how to face risks, accept risks to test solutions, in order to improve business methods.

- Modern school

Paul R. Krugman's (USA) concept of competitiveness: Productivity growth is the main driver of competitiveness. The international competitiveness of countries is related to the high living standards of their people. According to Michael E. Porter's (USA) theory of competitiveness, competitiveness depends on long-term productivity, which requires a business environment that supports continuous innovation in products, processes and management. The four conditions that emphasize the increase in global competitiveness of domestic companies include: input factors, demand conditions,

related and supporting industries (clusters), organizational strategy, structure and rivalry.

Modern views have also pointed out relatively clearer factors in business performance, determining competitiveness through measuring labor productivity growth, measuring the living standards of the people of the country. Researchers also believe that productivity must be long-term, to demonstrate competitiveness. Therefore, it is necessary to have a business strategy, to improve and innovate continuously.

(Source: Tomasz Siudek - Aldona Zawojska, 2014). In addition to research groups based on the schools of thought, research on NLCT from the perspective of each level, such as: Country, company, has also shown specific characteristics and is somewhat clearer about the influencing factors.

to the NLCT of a country, a company.

- By national level

According to Bobba et al. (1971): Competitiveness is the ability of nations, regions and companies to create wealth, which is a condition of high wages. When workers have high wages, it proves that the competitiveness of the nation and those companies is strong and good. According to Scott, Lodge (1985): Competitiveness of a nation is that nation creates, produces, distributes and/or supplies products in international trade, from its own resources. According to Tyson D'Andrea (1992), competitiveness is the ability to produce goods and services that meet international competition, while the citizens of the nation enjoy a growing and sustainable standard of living. Krugman (1990, 1994), believes: In any sense, competitive ability is simply another way of expressing productivity. The ability of a nation to improve the living standards of its people depends entirely on its ability to improve productivity. M. Porter (1990) introduced the concept, which is the only meaningful

Comment