Abstract
Financial leasing companies in Vietnam have been established for more than 20 years. However, little is known about the determinant factors of the brand image of these companies. This study aims to measure the associated factors of the brand image of financial leasing companies in Vietnam by employing a cross-sectional study from March to June 2021. An online survey using Google Forms has been sent via email to 350 people, including directors, deputy directors, relevant heads of departments, and employees of financial leasing companies in Vietnam. A total of 298 participants agreed to participate in the survey (the response rate is 85.1%). The Cronbach’s alpha of every factor is higher than 0.8 (ranges from 0.824 to 0.949). Confirmatory Factor Analysis (CFA) results show that the values of Composite Reliability are all higher than 0.7 and ones of Average Variance Extracted are all higher than 0.5, which assure the reliability and validity of the scale. Structural Equation Model (SEM) has been applied, and model fit indexes have been calculated to test the research hypotheses. The findings show that cooperate social responsibility positively affects the brand image of financial leasing companies in Vietnam. Moreover, the result confirms the mediating role of enterprise strategy and operational efficiency for companies’ competitiveness and brand image. These results indicate that managers at finance leasing companies and stakeholders should have suitable policies to increase competitiveness and corporate social responsibility for the sustainable development of financial leasing companies in Vietnam. AcknowledgmentThis paper is a collaboration between the School of Business and Economics and the Institute of Theoretical and Applied Research of Duy Tan University. The authors thank the leaders of the two institutions for helping to make the research cooperation successful.
Highlights
According to the provisions of Decree 39/2014/ND-CP dated May 7, 2014, finance leasing is a medium and long-term credit activity through the leased machinery, equipment means of transport, and other movables based on a lease contract between the Lessor and the Lessee (Government of Vietnam, 2014)
The age group of employees working at financial leas- result shows that 35 questions used in this study ing companies in Vietnam
This study explored the determinant factors to the brand image of financial leasing companies in Vietnam during the COVID-19 pandemic
Summary
According to the provisions of Decree 39/2014/ND-CP dated May 7, 2014, finance leasing is a medium and long-term credit activity through the leased machinery, equipment means of transport, and other movables based on a lease contract between the Lessor and the Lessee (Government of Vietnam, 2014). Financial leasing companies play an essential role in developing specific products to support investment needs and increase enterprises’ production capacity and business activities (Amembal, 1992; Mohajan, 2011). Working capital lending to the lessee (Chien et al, 2021). These products aid firms’ competitiveness by purchasing and using the most contemporary and innovative technology, machinery, and manufacturing equipment (Sule & Amuni, 2014). Previous studies refer to the competitiveness and operation of financial leasing markets and finance leasing companies in developing countries. Lubonja et al (2019) confirmed that financial leasing is essential for Albania small-medium enterprises (SMEs) to finance their assets. Gebremichael et al (2020) showed that SMEs in Tigrai faced several problems, such as limited access, ineffective usage, or inadequate legacy to lease finance
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