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August 28, 2026Corporate Governance

Anticipatory governance and stakeholder engagement in financial crisis management: evidence from Vietnam’s banking sector

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Authors

QNQuoc Dung NgoVHVu Hiep Hoang

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Overview

Survey analysis demonstrates that anticipatory governance drives financial market stability through trust and bailout design in banking stakeholders, highlighting trade-offs with public engagement.

Key Points

  • To examine how anticipatory governance mechanisms and stakeholder engagement impact government bailout effectiveness and financial market stability during banking crises.
  • Surveyed 237 financial experts, policymakers, and business leaders in Vietnam between 2022 and 2023.
  • Established measurement invariance across diverse stakeholder groups using the MICOM procedure.
  • Analyzed structural relationships and mediation pathways using partial least squares structural equation modeling (PLS-SEM).
  • Anticipatory governance significantly enhanced government trust and bailout scope while exerting a direct positive effect on financial market stability.
  • Government trust fully mediated the relationship between bailout scope and financial market stability, demonstrating that interventions function through confidence restoration rather than direct capital distribution.
  • Public engagement negatively moderated the relationships between anticipatory governance, bailout scope, and government trust, revealing coordination-efficiency trade-offs in emergency responses.

Cite This Study

Ngo et al. (2026) studied this question.

synapsesocial.com/papers/6a914642d15324a1df3a9b5chttps://doi.org/10.1108/cg-07-2025-0520
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