SUSTAINABLE LIVELIHOODS ASSOCIATED WITH TOURISM IN THE CAM MOUNTAIN TOURIST AREA AN GIANG PROVINCE, VIETNAM

Learning about socio-economic development in Vietnam recently, the issue of livelihoods and sustainable livelihoods has become a research target with many different approaches. Based on the theory of sustainable livelihood framework put forward by the UK Department for International Development (DFID), the article outlines the sources of livelihood capital of local people. With the method of sociological investigation, statistics and data analysis, the article has presented the types of sustainable livelihoods associated with tourism in the Cam Mountain tourist area, An Giang province. This study also wants to replicate the types of sustainable livelihoods associated with tourism in terms of scale and quality to contribute to the economic, social, and environmental development of the locality. Article visualizations

La transaction programmée et la volatilité

La transaction programmée, définie comme l’arbitrage entre les marchés au comptant et à terme, a été citée dans plusieurs études comme une cause de la récente augmentation de la volatilité des prix boursiers. La plupart des recherches montrent cependant que la relation entre l’existence de la transaction programmée et l’augmentation de la volatilité est circonstancielle, tout au plus, et recouvre des phénomènes économiques plus fondamentaux. La présente étude examine les similarités entre la volatilité des prix boursiers à la bourse de New York en 1987, celle à la même bourse en 1929 et celle de la bourse de Montréal en 1987. Ces trois situations dans l’espace et le temps représentent trois événements différents sous deux aspects : existence de la transaction programmée (à New York en 1987 seulement) et incidence d’autres facteurs que la transaction programmée (facteurs différents en 1929 seulement). Ils permettent ainsi de rejeter, par un test avec un minimum d’ambiguïté, l’hypothèse d’une relation entre la transaction programmée et l’augmentation de la volatilité. Les résultats de l’étude confirment ceux des études antérieures, dont celles de Roll (1988), Edwards (1988) et Wyss et DeAngelis (1987).Program trading, defined as the arbitrage between the spot and futures markets, is often quoted as the reason for increased volatility of stock prices. Most studies showed however that the relationship between program trading and increased volatility is at best circumstancial, and at worst a distraction from more important economic phenomena. The present study examines the similarities between the stock price volatility in the NYSE in 1987, that in the NYSE in 1929 and that in MSE in 1987. The three situations in space and time are different under two aspects: existence of program trading (only in NYSE in 1987) and incidence of factors others than program trading (different factors only in NYSE in 1929). They allow therefore to reject, by a test with minimal ambiguity, the hypothesis of a relationship between program trading and increased volatility. The results thus confirm those of past studies, such as Roll (1988), Edwards (1988) and Wyss and DeAngelis (1987)

Une mesure composite du risque des prêts hypothécaires

In this study, a cardinal and continuous measure of the default risk of mortgage loans is proposed, in departure from past studies where that risk was measured by dichotomous or categorical variables. The cardinal and continuous measure of risk is obtained by use of the canonical factor analytic technique. The unique factor of risk is a linear combination of the rate of return on equity, of the break-even rental income and of the vacancy rate of the property, and also of the relative term of the mortgage loans. It is found that the default risk of mortgage loans is well explained by the attributes of the property and of the neighbourhood, as well as by the location and the mortgage ratio. Furthermore, the buyer seems to incur hidden transaction costs which increase his risk level over that observed of the seller

Performance et commission de souscription des fonds mutuels canadiens

Les frais de commission exigés des investisseurs à l’achat des parts de fonds mutuels se situent entre 0 % et 9 % du montant de l’investissement initial. Ils sont souvent considérés comme un signal de qualité ou de performance. En utilisant des mesures traditionnelles de performance (indices de Jensen, de Sharpe et de Treynor), les tests de différences statistiques de Jobson et Korkie et les données mensuelles de 226 fonds mutuels canadiens couvrant la période janvier 1981 à septembre 1987, cette étude révèle qu'il n’y a aucune relation consistante et ferme entre l’exigence de frais de commission et la performance des fonds mutuels. L’efficience du marché des fonds mutuels est ainsi remise en question puisque les fonds mutuels ayant les frais de commission les plus élevés ne réalisent pas une performance significativement supérieure à celle des fonds sans frais.The objective of the present research is to test whether Canadian mutual funds which charge subscription fees achieve higher performance than those which do not, in order to compensate their shareholders for such fees. Indirectly, the research is also a test of the efficiency hypothesis in the mutual funds market.To compare the performance of mutual funds which charge subscription fees to those that do not, measures such as Jensen's alpha, Sharpe and Treynor indices, have been used, as well as significance tests developed by Jobson and Korkie (1981) on differences of performance measures. The data covered 226 Canadian mutual funds and 75 months from JuIy 1981 to September 1987.The results show that there is no significant relationship between subscription fees and performance. They confirm the results of past studies that mutual funds who charge subscription fees do not realize better performance than those that do not. That mutual funds which charge subscription fees, in some cases up to 9% of the invested amount, still attract a relatively large volume of individual investors' funds is an indication of a non negligible degree of inefficiency in the Canadian mutual funds market

APPLICATION OF GOOGLE EARTH SOFTWARE FOR TEACHING STUDENTS OF GEOGRAPHY EDUCATION AT AN GIANG UNIVERSITY, VIETNAM IN THE DIRECTION OF CAPACITY DEVELOPMENT

Applying information technology to teach students majoring in Geography pedagogy in a university environment in the direction of capacity development has contributed to improving training efficiency and quality. By analyzing and synthesizing documents combined with pedagogical experiments in the classroom, the article introduces Google Earth and the application of Google Earth to teach some geography modules for students of geography pedagogy at the An Giang University, Ho Chi Minh City National University, in the direction of capacity development. Through lessons and tests, assessments help students improve their general and specific competencies in Geography. In addition, the article also proposes some recommendations to allow lecturers to use Google Earth to teach Geography at universities more effectively.  Article visualizations

Une mesure composite du risque des prêts hypothécaires

In this study, a cardinal and continuous measure of the default risk of mortgage loans is proposed, in departure from past studies where that risk was measured by dichotomous or categorical variables. The cardinal and continuous measure of risk is obtained by use of the canonical factor analytic technique. The unique factor of risk is a linear combination of the rate of return on equity, of the break-even rental income and of the vacancy rate of the property, and also of the relative term of the mortgage loans. It is found that the default risk of mortgage loans is well explained by the attributes of the property and of the neighbourhood, as well as by the location and the mortgage ratio. Furthermore, the buyer seems to incur hidden transaction costs which increase his risk level over that observed of the seller.

Performance et commission de souscription des fonds mutuels canadiens

The objective of the present research is to test whether Canadian mutual funds which charge subscription fees achieve higher performance than those which do not, in order to compensate their shareholders for such fees. Indirectly, the research is also a test of the efficiency hypothesis in the mutual funds market. Les frais de commission exigés des investisseurs à l’achat des parts de fonds mutuels se situent entre 0 % et 9 % du montant de l’investissement initial. Ils sont souvent considérés comme un signal de qualité ou de performance. En utilisant des mesures traditionnelles de performance (indices de Jensen, de Sharpe et de Treynor), les tests de différences statistiques de Jobson et Korkie et les données mensuelles de 226 fonds mutuels canadiens couvrant la période janvier 1981 à septembre 1987, cette étude révèle qu'il n’y a aucune relation consistante et ferme entre l’exigence de frais de commission et la performance des fonds mutuels. L’efficience du marché des fonds mutuels est ainsi remise en question puisque les fonds mutuels ayant les frais de commission les plus élevés ne réalisent pas une performance significativement supérieure à celle des fonds sans frais.

Factors affecting the decision to choose a university of high school students: A study in An Giang Province, Vietnam

It is important to provide high school students with the necessary information for them to consult and make a decision to choose a university. The study aims to identify and evaluate the influence of factors in the decision to choose a university for high school students. The questionnaire survey method was used to collect data from 393 students from eight high schools in An Giang Province, Vietnam. Exploratory factor analysis and linear regression were used to analyze the data. The research results show that students are quite satisfied and quite certain with their decision to choose a university, while there are six important factors affecting the decision to choose a university. Influential factors with decreasing order of magnitude are: i) Factors consulted by teachers, family, friends, and relatives; ii) Factors of future job opportunities; iii) Factors of media activities; iv) Factors of learning conditions; v) Factors of university reputation; vi) Factors belong to the students themselves. The findings of the study show that there is no statistically significant difference between the group of males and females, between grades 10, 11, and 12. Besides, there is a statistically significant difference between students in high schools. The findings of this study have theoretical and practical implications for university admissions in Vietnam. Proposals made to university administrators were discussed. From the research results, we want to help students find the right university, and support universities to improve the efficiency of admissions

Synthesis of antiulcer drug esomeprazole.

Esomeprazole (Nexium®), the (S)-isomer of Omeprazole, is the first proton-pump inhibitor developed as a single isomer for the treatment of acid-related diseases. It is used for the treatment of peptic ulcers, gastroesophagal reflux disease, and erosive esophagitis. Herein, we report our synthetic study of esomeprazole sodium salt from the starting    2-mercapto-5-methoxybenzimidazole and 2-(chloromethyl)-4-methoxy-3,5-dimethylpyridine hydrochloride reagents. The Esomeprazole sodium salt was obtained from enantioselectivesulfoxidation reaction in moderate yield with high enantioselectivity