The Impact of Monetary Policy on Stock Returns in Vietnamese Stock Market

Understanding the impact of monetary policy on stock returns is crucial to making investment decisions in the stock market. In this paper, I analyzed the impact of monetary policy and the movement of stock returns, using the Vector Auto-Regression approach (VAR) and focusing on the relationships between stock returns, inflation rate, exchange rate and interest rate in Vietnam. The result shows that the stock returns could be well forecasted by using the past information of monetary policy. The analysis of impulse and response of stock returns illustrate that the monetary policy has a small contribution into the innovations of the stock returns and the shocks from monetary policy to stock returns mostly affect stronger in the second month when the own shock of stock returns reduces

Approximation of mild solutions of the linear and nonlinear elliptic equations

In this paper, we investigate the Cauchy problem for both linear and semi-linear elliptic equations. In general, the equations have the form $$\frac{\partial^{2}}{\partial t^{2}}u\left(t\right)=\mathcal{A}u\left(t\right)+f\left(t,u\left(t\right)\right),\quad t\in\left[0,T\right],$$ where $\mathcal{A}$ is a positive-definite, self-adjoint operator with compact inverse. As we know, these problems are well-known to be ill-posed. On account of the orthonormal eigenbasis and the corresponding eigenvalues related to the operator, the method of separation of variables is used to show the solution in series representation. Thereby, we propose a modified method and show error estimations in many accepted cases. For illustration, two numerical examples, a modified Helmholtz equation and an elliptic sine-Gordon equation, are constructed to demonstrate the feasibility and efficiency of the proposed method.Comment: 29 pages, 16 figures, July 201

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

Optimizing the ratios of standardized ileal digestible (SID) methionine plus SID cystine and SID threonine to SID lysine in low-protein diets for working boars

This study aimed to optimize the ratios of standardized ileal digestible (SID) methionine (Met) plus cystine (Cys), and threonine (Thr) to SID lysine (Lys) in low-protein diets for working boars. Forty-eight working Duroc boars were randomly allocated to one of 12 dietary treatments in a 3x4 factorial experimental design in which factor 1 was the ratios of SID Met plus Cys to SID Lys (50, 60, 70%), factor 2 was the ratios of SID Thr to SID Lys (40, 50, 60, 70%). Semen was collected at a 4 days interval for 6 weeks for 10 ejaculates. Semen volume (V), percentage of sperm with progressive motility (A), sperm concentration (C), and the total number of motile sperm per ejaculate (VAC) were measured. The results of the study revealed that the ratios of SID Met plus Cys to SID Lys in the diets affected the C and VAC. Values of C and VAC were highest at the ratios of SID Met plus Cys to SID Lys of 70% and lowest at 50% (P<0.05). Similarly, the ratios of SID Thr to SID Lys affected the C and VAC. Further, the values of C and VAC were highest at the ratio of SID Thr to SID Lys of 60% and lowest at 40% (P<0.05). There was no interaction effect between the two factors. In conclusion, the ratios of SID Met plus Cys to SID Lys of 70% and SID Thr to SID Lys of 60% in a 13.5% CP diet are optimal for working boars

The effect of polyamine 70000 (BT70) on the zinc plating process in the non-cyanide alkaline plating bath

The effect of polyamine having molecular weight 70,000u (BT70) in the non-cyanide alkaline plating bath on the morphological zinc electrodeposited coating was investigated. The obtained results from the reflectance of electrodeposited zinc coating by a suitable range of electro-current density and SEM images showed that BT70 had effect on the zinc plating in comparison with the zinc deposits from plating bath without BT70. The electrodeposited coating surface was rough and poor adhesion. However, adding BT70 into the plating bath led to the surface roughness of electrodeposited coating and grand size being reduced. Zinc electrodeposited coating from a plating bath containing BT70 at 0.5 g/L, respectively, experienced the highest reflectance, equal 46 % of the electrodeposited coating from the bath containing commercial additives. Hull method showed that the zinc deposited coating surface became smoother with the presence of polyamine in non-cyanide alkaline zinc plating solution. The zinc deposited coating had a semi-gloss scope at 10 A/dm2. If the BT70 content increased, the semi-gloss scop and the gloss of samples’ surfaces also grew up. Keywords. Polyamine, additive, non-cyanide alkaline zinc plating, zinc coating

The Challenges in Implementing Vietnam’s Nationally-Determined Contribution (NDC) in the Agriculture Sector under the Current Supporting Laws, Regulations, and Policies

This study reviews the current supporting laws, regulations, and policies in Vietnam and their applicability in the effective implementation of Nationally Determined Contributions (NDC) agriculture activities in Vietnam. The Ministry of Agriculture and Rural Development (MARD) is responsible for the development of NDC activities for the agricultural sector. It can be noted that there is a strong supporting legal framework in Vietnam. There are, however, some challenges and gaps that could potentially affect the effective implementation of NDC activities in agriculture. The study considered the following five areas as critical to NDC implementation: 1) awareness and technical capacity; 2) implementation coordination; 3) downscaling to the provinces; 4) engagement of private sector and NGOs; and 5) regulatory framework. Some recommendations are proposed on how to address the challenges in the five areas identified