Firm History and Managerial Entrenchment: Empirical Evidence for Vietnam Listed Firms

Managerial entrenchment occurs when managers are able to manipulate financing decisions to support their own interests rather than those of shareholders. Such possible actions can involve deception and fraud. Furthermore, the market timing activity is explained by managers' financing decisions through which companies choose to raise debt or equity to finance their investment opportunities. Nevertheless, the relationship between managerial entrenchment and leverage ratio, together with the link between market timing and leverage ratio, have not been considered carefully and investigated in the Vietnamese context. The paper provides empirical evidence of the effect of managerial entrenchment and market timing through firms' histories on leverage ratio in Vietnam using a sample of 289 non-financial firms listed on the Ho Chi Minh Stock Exchange (HOSE) during the period 2006-2017. OLS, GMM and the endogenous switching methods are used for estimating the models. Findings from the paper indicate that there is a negative relationship between managerial entrenchment and leverage ratio, and that there is a negative effect of firm history, including financial deficit, various timing measures, and stock price history on the leverage ratios of Vietnam's listed firms

Vietnamese children and adults' perceptions of genealogy's role in family tradition education

When one studies their ancestors, they acquire information and documentation about their marriages, births, and deaths as far back as possible, through their parents, grandparents, and great grandparents, as well as information and documentation about their children and grandchildren. In particular, the purpose of this study is to examine the perspectives of Vietnamese children and adults regarding the significance of genealogy in traditional family education in the country of Vietnam. One hundred and ninety-nine persons participated in the survey. In a questionnaire, they answered eight questions regarding the lives of their forefathers and foremothers. When this research came to a close, it was determined that the perceptions of Vietnamese children and adults about the function of genealogy in traditional family education fell into one of two categories: "below average" and "above average." All of the findings from this research are critical in terms of establishing family traditions in the minds of future generations

Impacts of monetary policies on the real estate bubble in Hanoi, Vietnam

The development of the real estate market always goes hand in hand with the fluctuation of the economy. In recent years, this market has experienced many recessions and «freezes» associated with the appearance of a real estate bubble. To approach this issue, this paper studies and gives an overview of the real estate bubble and the impact of monetary policies on the real estate bubble in Vietnam. This paper’s purpose is to identify and measure the influence of monetary policies, including interest rates, credit and money supply, on the real estate bubble in Ha Noi. The vector autoregression model (VAR) is used to test the interaction of the variables in the model. Dickey-Fuller test (DF) is applied to determine the stationarity of the variables, while the Akaike information criterion (AIC), Likelihood Ratio (LR), Final prediction error (FPE), Hannan-Quinn information criterion (HQ) and Schwarz criterion (SC) are used to find optimal lag of the model; then Granger causality test is utilized to determine the two-way correlation between variables. The results showed that the real estate bubble reacted quickly to shocks from macroeconomic factors representing the monetary policy, consisting of interbank interest rates, credit growth, and money supply growth. Thus, it is concluded that monetary policy is not only the cause of formation, but also one of the effective solutions to deflate the real estate bubble. AcknowledgmentThis research is funded by Vietnam Ministry of Education and Training (MOET) under grant number [B2022-NTH-03]

FLAVONOIDS ISOLATED FROM THE FLOWERS OF CAMELLIA CHRYSANTHA

Camellia chrysantha (the golden camellia, golden tea) is a species of evergreen shrub or small tree belonging to the family Theaceae. The flowers and the leaves of this plant are used as tea and drank for its health benefits. The aim of this study was to investigate the chemical constituents of the flowers of Camellia chrysantha. Five flavonoids were isolated from the flowers of Camellia chrysantha (Theaceae), including (+)-catechin (1), (-)-epicatechin (2), quercetin (3), quercetin-3-O-methyl ether (4) and kaempferol (5). Their chemical structures were elucidated by spectroscopic data analysis and by comparison with those reported in the literature. Among five compounds, compounds 4 was isolated for the first time from this species

Evaluation of Luminex xTAG Gastrointestinal Pathogen Panel Assay for Detection of Multiple Diarrheal Pathogens in Fecal Samples in Vietnam.

Diarrheal disease is a complex syndrome that remains a leading cause of global childhood morbidity and mortality. The diagnosis of enteric pathogens in a timely and precise manner is important for making treatment decisions and informing public health policy, but accurate diagnosis is a major challenge in industrializing countries. Multiplex molecular diagnostic techniques may represent a significant improvement over classical approaches. We evaluated the Luminex xTAG gastrointestinal pathogen panel (GPP) assay for the detection of common enteric bacterial and viral pathogens in Vietnam. Microbiological culture and real-time PCR were used as gold standards. The tests were performed on 479 stool samples collected from people admitted to the hospital for diarrheal disease throughout Vietnam. Sensitivity and specificity were calculated for the xTAG GPP for the seven principal diarrheal etiologies. The sensitivity and specificity for the xTAG GPP were >88% for Shigellaspp.,Campylobacterspp., rotavirus, norovirus genotype 1/2 (GI/GII), and adenovirus compared to those of microbiological culture and/or real-time PCR. However, the specificity was low (∼60%) for Salmonella species. Additionally, a number of important pathogens that are not identified in routine hospital procedures in this setting, such as Cryptosporidiumspp. and Clostridium difficile, were detected with the GPP. The use of the Luminex xTAG GPP for the detection of enteric pathogens in settings, like Vietnam, would dramatically improve the diagnostic accuracy and capacity of hospital laboratories, allowing for timely and appropriate therapy decisions and a wider understanding of the epidemiology of pathogens associated with severe diarrheal disease in low-resource settings

In vitro bioactivities of Codonopsis javanica root extract from Kon Tum province, Vietnam

Dangshen Codonopsis javanica exhibits invaluable medicinal properties in herbal remedies; however, there has currently not been much specific analysis of the phytochemicals and bioactivities of this plant. The root ethanol extract of C. javanica contains substances such as saponins, phenolic acids, terpenoids, and alkaloids. It displays an antibacterial effect against Escherichia coli, Pseudomonas aeruginosa, Staphylococcus aureus, and Bacillus cereus with the IC50 values of 150, 100, 150, and 90 μg/mL, respectively. The antioxidant capacity of the root extract was also observed with an IC50 value of 46.8 ± 6.8 μg/mL. Furthermore, the extract exhibits activity on human cancer cell lines HepG2 (IC50 = 83.6 ± 2.7 μg/mL) and MCF-7 (IC50 = 95.3 ± 2.3 μg/mL). Hence, this study provides the basic data for further research on the bioactivities of natural compounds of Dangshen C. javanica for the first time

Early Treatment with Imiquimod 5% Cream of Periungual Warts in Vietnam: The Poorer, the Better

AIM: To evaluate the efficacy of imiquimod 5% in periungual wart treatment. MATERIAL AND METHODS: A group of 40 patients were recruited to apply imiquimod 5 % cream once daily for 5 consecutive days per week in 8 weeks. They were classified into 3 levels: Mild (the total lesion area ≤ 25 mm2), moderate (25 mm2 <total lesion area ≤ 50 mm2), severe (total lesion area > 50 mm2). The outcome was evaluated at the 4th and the 8th week. The result was graded as excellent (complete clearance), good (≥ 50% clearance) and poor (< 50% clearance). RESULTS: The total area of the wart lesion got decreased significantly from the beginning to the 4th and the 8th week (36.7 mm2 vs 16.8 mm2, p = 0.0001 and 16.8 mm2 vs 8.8 mm2, p = 0.01). The complete clearance rate at the 4th week was lower than that at the 8th week significantly (22.5% vs 72.5%, p = 0.04). The clearance rate of patients suffering severe warts was lower significantly than that of mild/ moderate patients (82.8% vs 45.5%, p = 0.03). The duration of the disease in people who responded completely to imiquimod was shorter than that of patients partially responded (10.2 ± 14.1 months vs 22.3 ± 14.3 months, p = 0.02). Adverse effects were not common, mild and local only. Recurrence rate after 6 months of follow up was 3.5%. CONCLUSION: In conclusion, Imiquimod 5% cream is a safe and effective drug in the treatment of periungual warts

Successful Treatment of Facial Atrophic Acne Scars by Fractional Radiofrequency Microneedle in Vietnamese Patients

AIM: The aim of this study was to evaluate the effect of the fractional Radiofrequency microneedle treatment for facial atrophic acne scars. METHODS: A group of 52 patients were recruited for the study. Goodman & Baron’s acne scar grading system was used for assessment at their first visit and at the end of 3 months after the last treatment session. RESULTS: The results displayed that 73.1% of patients have the improvement of the Goodman scar level after four times treatment. The Goodman and Baron scar point mean was reduced from 16 ± 7.6 to 5.6 ± 5.0 (p < 0.01). Post-inflammatory hyperpigmentation was experienced in 5 patients (9.6%). CONCLUSION: The microneedle fractional Radiofrequency is an effective treatment method of facial atrophic acne scars, with minor side effects and a short down-time

The Effectiveness of Oral Mini-Pulse Methylprednisolonein - the Treatment of Alopecia Areata in Vietnam

BACKGROUND: Systemic corticosteroid is used to treat alopecia areata, but it is associated with side effects. Mini-pulse therapy is thought to be effective but able to reduce side effects. AIM: The study aimed to evaluate the effectiveness of oral mini-pulse methylprednisolone in the treatment of alopecia areata. METHODS: Patients received methylprednisolone 16 mg orally for 2 consecutive days every week. RESULTS: After 3 months, among patients, 40% recovered well, and 55.6% recovered fairly. After 6 months, 82.2% recovered well, 17.8% recovered fairly. No adverse events were detected, and the recurrence rate was low (2.2%). CONCLUSION: Oral mini-pulse methylprednisolone therapy is an effective and safe therapeutic option for alopecia areata without side effects, and the time of the treatment is short

Vegetable seed systems for ethnic minorities in northern Vietnam for enhanced nutrition and income

Vegetables are a main source of nutrition and income for ethnic minority farmers in Vietnam’s Northern highlands. While the consumption of vegetables and value chains for fresh retail produce and seed markets offer huge opportunities for household nutrition security and development, and particularly women inclusion, current smallholder systems suffer from multiple problems. The Integrated vegetable seed systems development project addressed these issues by elucidating how, and under what conditions, increased access and use of high-quality seed translates into enhanced smallholder nutrition and income security. This poster provides the project highlights presented at the NL-CGIAR Conference, 2-3 November 2022