Hai Anh Vu Thi

Type of the article: Research Article

Abstract
This paper examines the influence of inventory management on firm performance, applying Hansen’s threshold estimation method across firm size. It uses panel data, including 149 industrial manufacturing firms listed on HOSE, HNX, and UPCOM markets in Vietnam from 2014 to 2024. In small firms (SIZE ≤ 24.4679), WIP (work in progress) and ITO (inventory turnover) positively affect ROA, while FIN (finished goods) has a negative effect. As SIZE increases (24.4679 < SIZE ≤ 25.0912), WIP reverses to a strong negative effect, FIN turns positive, and ITO loses statistical significance. In large firms (SIZE > 25.0912), RAW (raw materials) appears as a significant negative factor on ROA, WIP continues to have a negative effect but at a decreasing level, and FIN reverses to a negative effect. These findings suggest that SIZE is important in moderating the relationship between inventory and firm performance. The control variables also show significant effects: TANG (tangible assets) negatively affects firm performance, while CASH has a positive impact, confirming the role of working capital balance. Regarding managerial implications, SIZE is an important moderator in the relationship between inventory and firm performance. For small firms, exploiting the benefits of WIP and increasing inventory turnover can improve profitability. Meanwhile, maintaining a reasonable WIP level becomes urgent for medium and large firms to avoid wasting resources and delaying production. For the largest firms, more attention should be paid to RAW to limit the risk of capital congestion, while maintaining a suitable level of FIN to ensure a smooth supply chain.

Type of the article: Research Article

Abstract
The rapid growth of online shopping, coupled with the increasing demand for flexible parcel collection, has promoted parcel locker services (PLKS) as an effective last-mile logistics solution. This study examines the extended role of electronic word-of-mouth (eWOM) within an integrated TAM-TPB framework in explaining consumers’ intention to use PLKS. A questionnaire survey was conducted primarily in Hanoi and Ho Chi Minh City, Vietnam, between November and December 2025. The analysis was based on 362 valid responses from online shoppers who had not previously used PLKS. PLS-SEM was employed to test the proposed hypotheses. The findings reveal that eWOM has a positive and statistically significant association with the core components of TPB, particularly attitude (β = 0.569; p = 0.000) and perceived behavioral control (β = 0.582; p = 0.000). Attitude was identified as the strongest predictor of intention to use parcel locker services (β = 0.491; p = 0.000). Furthermore, eWOM was positively associated with intention to use both directly and indirectly through the statistically significant mediating roles of attitude (β = 0.28; p = 0.000) and Perceived Behavioral Control (β = 0.083; p = 0.000). However, the results do not support the mediating role of subjective norms in the relationship between eWOM and intention to use (β = 0.024; p = 0.073). The findings offer managerial implications for locker service providers, highlighting the importance of investing in digital communication strategies, fostering positive customer reviews and feedback, and ensuring transparent and accessible service information to strengthen consumers’ adoption intentions.

Acknowledgments
The authors received no financial support or external funding for conducting this research or preparing the manuscript. All analyses and interpretations were carried out independently by the authors.