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THAI NGUYEN UNIVERSITY SOUTHERN LUZON STATE UNIVERSITY Socialist Republic of Vietnam Republic of the Philippines ANALYSIS ON FINANCIAL MANAGEMENT OF ULSA: BASIS FOR EFFICIENT RESOURCE ALLOCATION DOCTORAL DISSERTATION DO THI THANH HOA (English Name: EMILY) Supervisor: Dr. JOANNA PAULA ELLAGA Thainguyen University of Economics and Business Administration (TUEBA) TNU-SLSU, 2013 TABLE OF CONTENT LIST OF TABLES. a4 LIST OF FIGURES. 5 ACKNOWLEDGMENT 6 COMMITMENT al ABSTRACT CHAPTERI INTRODUCTION 1.

Background of the stud: 12: Statement of objectives 1. Significance of the study. Scope and limitation of the study. Definition of terms.

20 CHAPTER II REVIEW OF RELATED LITERATURE AND STUDIES 23 2. Literature and studies review 2. Theoretical and conceptual framework .1 Concept of quality and effectivenes: 2.2 The task of higher education: 2. Cameron’s Model of Organizational Effectivenes: 2.4 The Balanced Scorecard 2.5 Applicability of the balanced scorecard model in higher education management in Vietnam 59 2:2.ccssisssereavesssssovssvesssssosssanevsavavcosasssnsrarstvavsnsasvenerersavansssnaveaneseeavenss 61 CHAPTER Il METHODOLOGY 3.

Research design 3:2; Determination of sample size Bids Sampling design and techniques 3. Subject of the study. Validation of the instrumen’ 37. CHAPTER IV RESULTS AND DISCUSSION 4.

Profile of the respondent .1 Gender of the respondents 4. The highest educational attainment of the respondents 4.4 Monthly average income of the respondents.5 Position of the respondents 4. Assess the effect of financial management in resource allocation .1 Financial management of ULSA in terms of resource allocation in labor.2 Financial management of ULSA in terms of resource allocation in equipment and 1HITASITELUTE 6y cszs6c00106161610 1083161g0813146009818vG081304ããEgl6ïGa84304ã010/00886c033g38418/31884ESGaxGa83x0t0Ag 73 4.3 Financial management of ULSA in terms of resource allocation in program 4.4 Financial management of ULSA in terms of resource allocation in services provision 77 443. Evaluating Financial management in terms of resource allocation and propose a basis for resources allocation for ULSA 44.

Hypothesis 1: The more investment in improving facilities, the higher effect of financial management.2 Hypothesis 2: To increase the percentage spent on teachers and satisfaction of teachers, it will increase the effect of financial management:. Hypothesis 3: Reduce administrative costs will increase the effect of financial 4.4 Hypothesis 4: The more investment in innovation program (method, examination, tests and assessment), the higher effect of financial management CHAPTER V SUMMARY, FINDINGS, CONCLUSIONS AND RECOMMENDATIONS 5. REQUEST LETTER TO CONDUCT THE SURVEY (TO RESPONDENTS). Cronbach alpha of factors of financial management.

CURRICULUM VITAE LIST OF TABLES Content. Resources allocation in ULSA 2012 .c ec secse ecs e se csten tes Table 3. Five point Likert’s Scale Table 4.1: Gender of the respondents.2: Age of the respondents.3: Education level of the respondents.4: Monthly everage income of the respondenIs. Frequency and Percentage Distribution of the Respondents in Financial Management in terms of Labor Resources Allocation as to Salary 70 Table 4.7 The average value of from I.

Frequency and Percentage Distribution of the Respondents in Financial Management in terms of Labor Resources Allocation as to professional development and feaching'QU811ĐWsxyiisseosxiess0g5as59NSSEESSHMENBSSIGXOXEUHESELGSGSGGISSERESMX1014381335MixãS 72 Table 4. Frequency and Percentage Distribution of the Respondents in Financial Management in terms of Labor Resources Allocation as to development career. Frequency and Percentage Distribution of the Respondents in Financial Management in terms of Resources Allocation in equipment and infrastructure. The average value of from 4.

Frequency and Percentage Distribution of the Respondents in Financial Management in terms of Resources Allocation in program. The average value of from 5. Frequency and Percentage Distribution of the Respondents in Financial Management in terms of Resources Allocation in services provision Table 4. The average value of from 6.

Frequency and Percentage Distribution of the Respondents in Financial Management in terms of Resources Allocation Table 4. The average value of from 7. Cronbach alpha coefficient. F-test and Significance test.

The regression models Table 4. gamma’s value and level of significance of hypothesis 1. gamma’s value and level of significance of hypothesis 2 Table 4. gamma’s value and level of significance of hypothesis 3 Table 4.

gamma’s value and level of significance of hypothesis 4 Table 1. Resources allocation in ULSA 2012 Table 5. The optimal rate of items in resource allocation LIST OF FIGURES Content. Limitation of study.

Model Balanced Scorecard.2 Diagram of the Balanced Scorecard Figure 2. Research paradigm Figure 4.1: percent of position of sample. ACKNOWLEDGMENT I would like to express my sincere gratitude to Dr. Joanna Paula Ellaga who has instructed her dedicatedly to complete this Dissertation.

I also would like to thank the lecturers of the University of Southern Luzon, Thai Nguyen University, faculty and staff of University of Labour and Social Affairs for helping me during the survey of Financial management: basis for resources allocation. Thanks for my family and all my beloved friends who have shared, encouraged and supported me so much during my DBA program to made my study feasible. The Author Do Thi Thanh Hoa COMMITMENT The authors declare that this is my own research. The information is used in the dissertation is credible.

The evaluation criteria of financial management: the basis for allocating resources have not been available in Vietnam in general and Hanoi in particular. The evaluation criteria of financial management: the basis for allocating resources have not been available in Vietnam in general and Hanoi in particular. The problem of resources allocation in the financial university has been mentioned. However, no specific studies at the University of Socialist Labor and other universities in Vietnam.

This study may provide the basis for financial management to allocate resources effectively, in accordance with the actual situation of ULSA, and the reference to the financial management of the other schools and policy makers regarding the allocation of resources for education. The author strongly believes that the thesis is the first study in Vietnam to build resource allocation model suitablely for University Labor — Social Affairs, and therefore it is also the first study to introduce the method of applying the standards of resources allocation of the university. Therefore, the findings and conclusions of the dissertation has not been published in any other work yet. The Author Do Thi Thanh Hoa ABSTRACT Starting from current reality in Vietnam, the mechanism of financial of education, including tuition fees are not renovated, a system of wage scales also take the average, so is not to encourage the dynamism and creativity of teachers and education managers; cost norms for training between branches, jobs is still averaged and not practical; mechanisms for allocating budget for institutions is also unreasonable.

Attracting investment from social resources for of higher education (including public schools) are limited (the Resolution No. 05- NQ/BCSD January 06, 2010) University of labour and social affairs (ULSA) is also in this general situation. Now, tuition fees of ULSA are in regulated frame, infrastructure is poor, the system of wage doesn’t encourage the employee, state budget invested in ULSA is limited, financial management is not good, resource allocation is not reasonable. The objective of this dissertation is to analyze the current status of financial management including resource allocation of University Labor - Social, in order to offer solutions to better allocate resources for it.

From the survey of managerial staff and lecturers of University of Labor — Social Affairs, dissertation assessed the impact of financial management, including the allocation of resources to the factor labor, equipment and facilities, program and course providers. The dissertation used methodology of the questionnaire survey, descriptive statistical analysis, regression to give proposal for the resources allocation of the university. From the analysis of actual allocation of resources in the University of Labor and Social Affairs, the dissertation determine the respondent’s profile (gender, age, the highest education level, montly average income, the number of years of services in the university, position), profile of the respondents is in accordance with the actual situation of ULSA. Secondly, the author assess the effect of resources allocation to the factors: labor, equipment and infrastructure, course program and providing services.

Determining the impact of these factors is to adjust the allocation of resources for effectiveness Finally, the researcher proposes a basis for an efficient financial resources allocation for the university through regression model. These model showed that the priority of investment to get high efficency. Background of the study Education in our Vietnam ver the next decade in the context of developing world is more rapid and complex changes. Globalization and international integration in education has become an inevitable trend.

Scientific and technological revolution, information technology and communications, intellectual economy growing strongly, direct impact on the development of education in the world. Fast-growing demand for education to meet the demands of industrialization and modernization of the country, economic development in depth knowledge with advanced technologies and international integration, while the resources to education is limited, will create pressure on educational development. (The decision No 711/QD-TTg June 13, 2012) The core problem of a university education (higher education) can be summed up in three words: quality, efficiency and social justice. And with ULSA is two words: quality and finance.

How to manage finance to get high quality and financial management here is allocating the resources. The decision No 711/QD-TTg June 13, 2012 also confirm necessary educational solutions development phase 2011-2020 is: Increasing resources for investment and innovating education financing mechanism. To continue renewing education financing mechanisms to mobilize, allocate and use more effectively the resources of public and social investment in education and enhancing the autonomy of the institution, make transparency and responsibility to the State, the learner and society to ensure financial resources for a number of Vietnamese educational institutions are capable of integrating and international competition. Current status of resources allocation in ULSA: 10 Table 1.

Resources allocation in ULSA 2012 No Content Amount (VND) Rate 1_| Salary for faculty 28,150,143,000 | 42.6% professional development and teaching 2 | quality 5,096,875,000 | 7.1% 4 | equipment and infrastructure 6,587,828,000 | 10.5% Total 66,083,945,000 | 100% Source: Accounting Department of ULSA, 2012 Currently, the quality of the teachers is inadequate, the salary of each teacher is not high, and method of payment of salary for each teacher on fix rank and seniority to lose the its leverage. In 2012, the average income of a teacher is 6.000VND/month (= 320 USD / month), this salary does not encourage teachers, Thus, teachers are not interested to prepare good lecture, add and update knowledge. Moreover, the construction of the system of fixed wage scale, the time of wage increasing is 3 years, this salary payment does not reflect the true quality of teachers. Training program is now not really completed, ULSA invested about 12% for program but basic teaching methods are still in the old lines, mostly by traditional methods.

The traditional method mean that learning is mainly based on lectures so acquiring knowledge processes are passive, unilateral, does not expand the vision. When problems of practices are improper such as theory, most students fall into an embarrassing situation and dare not to process. Students are not interested in program. Therefore, the school should innovate program and method to meet current needs.

11 The amount of investing equipment and facility of ULSA is small. The procurement of equipment and facilities were not timely and did not meet the requirements. In fact, equipments and infrastructure for practice, experiments are inconsistent and outdated. Providing services of ULSA now account for a relatively large proportion of 25.5%, but the service is not really efficient.

Administrative procedures are cumbersome, providing information to students and parents is slow and inaccurate, service attitude is not good. ULSA need to allocate resources suitable to get high quality. Thus, analyzing the financial management: basis for efficient resources allocation is very necessary. Statement of objectives In recent years, many principals have errors in financial management, leading to serious disunity, even corruption cases occur, adversely affecting the reputation of the school as well as the professional subject.(Thanh Binh, 2012) Danger of falling behind can make the gap of economics, knowledge and education between Vietnam and other countries increased.