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Rent-seekers' lost El Dorado: Vietnam's financial turmoil, 2007-2013

Quan Hoang Vuong, Nancy K. Napier and Dung Tran

No 13-020, Working Papers CEB from ULB -- Universite Libre de Bruxelles

Abstract: In this investigation, we examined 256 cases of financial failure and fraud in Vietnam’s chaotic years from 2007 to 2013. Categorical data analyses suggest that the rent-seeking approach, or resource-based orientation, alone does not help explain the outcome of a business intention while the association between Orientation and Approach is the best-fit predictor. Rampant financial collapse not only increases the cost of funds but also erodes trust in the economy. Entrepreneurship development and creativity capacity building, in light of this, are necessary to improve socio-economic conditions and the environment. In this manuscript, we also introduce intuitive and cognitive factors to predict ex-ante outcome of a financing scheme.

Keywords: Financial frauds; rent-seeking; creativity; economic transition; Vietnam (search for similar items in EconPapers)
JEL-codes: G10 O16 P27 (search for similar items in EconPapers)
Pages: 18 p.
Date: 2013-05-16
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Handle: RePEc:sol:wpaper:2013/143808