Insiders, Outsiders and Performance of Vietnamese Firms

The consensus in the finance literature is that a large proportion of inside ownership (defined as greater than 5% share ownership by non-institutional holders, managerial holdings, founding family holdings, cross-shareholdings by affiliated firms and ownership by creditors) tends to be associated with more unsatisfactory performance (as measured by ROE or ROA) when compared to firms with lower inside ownership, all else equal. However, this need not be the case if insiders act as monitors of the firm and have the same interest in returns as outsiders.  Ownership structure and firm level financial performance have not been widely studied in Vietnam.  Using data from 729 listed firms in Vietnam for 2018, we test the hypothesis that greater insider ownership has a negative impact on firm performance. We found that Vietnam's insiders play a monitoring role, exercising their relative power to ensure the firm's profitable functioning. These findings are inconsistent with research on Japanese groupings, as well as other findings. The Vietnamese stock market does not appear to be negatively affected by insider influence; indeed, insiders appear to act as positive monitors.

Widespread contamination by persistent toxic substances in Vietnam and their implications on environmental quality and human health

Vietnam is a developing country located in the central part of the Southeast Asian tropical region. The country comprises the Red River and Mekong River Delta, inhabiting more than 30 million people, which is one of the most populous areas in the world. These deltas have become one of the most productive agricultural regions in Southeast Asia. Agrochemicals have been used extensively in the past and until very recently for agricultural purposes and malaria eradication program. The present paper provides a comprehensive overview of the environmental distribution, patterns and trends of contamination of toxic substances including persistent organochlorines (OCs) and endocrine active compounds (EACs) in different environmental compartments from Vietnam. Monitoring data reported during the 1990s demonstrated widespread and elevated contamination of DDTs in air, water, sediments and soils from in Vietnam. Recent studies in frame of the Asia-Pacific Mussel Watch Program have also revealed that fish, mussels and resident birds from Vietnam contained higher concentrations of DDTs as compared to other countries in region, suggesting the role of Vietnamese environment as a significant emission source of DDT in the Southeast Asian region. Subsequent surveys on coastal lines from north and middle part of Vietnam likewise demonstrated that contamination of some endocrine active compounds such as alkylphenols and phthalates are ubiquitous. In particular, relatively high concentrations of bis-phenol A were found in some locations in Red River delta, comparable or higher than those reported for several locations in developed nations in Western Europe and North America. A case study on seasonal variation of alkylphenols and phthalates in surface water of river delta and estuary of north and central Vietnam indicated the differences in distribution of these compounds between dry and rainy seasons. Higher concentrations of alkylphenols and phthalates were found in dry season in estuary; while the contrasting pattern was observed in the river delta, showing elevated residues in rainy season. This result suggests the different behavior of alkylphenols and phthalates in river delta and in coastal environment. The temperature dependence in tropical ecosystem and the influence of the specific local sources may be reasons for the observed results in the seasonal variations. To our knowledge, this is the first extensive study on the widespread contamination of EACs in Vietnam. Regarding the trends of contamination by OCs, preliminary survey conducted in Read River delta water and sediments indicated a rapid decline trend in water and a slow decrease in sediments during 1995-2001. From ecotoxicological and human health perspectives, concentrations of bis-phenol A and di (2-ethylhexyl) phthalates in surface water from some locations in Vietnam exceeded the guideline values for Ecotoxicological Effects and the Environmental Risk Limit, respectively, suggesting potential for toxic implications on aquatic wildlife. Human exposure to persistent organic pollutants indicated that DDT residues levels in human breast milk from both Hanoi and Hochiminh city were among the highest values reported for Asian developing countries as well as developed nations. Daily intakes estimating based on the exposure through sea-foods indicates that intakes of DDTs by Vietnamese populations were among the highest rank in Asia-Pacific countries, suggesting potential risk for human exposure to elevated DDT pollution. Future studies should be focused on the time trends of POPs and EACs in biota of Vietnam with view of predicting the future trend of contamination and to reveal new clues for understanding possible toxic impacts on aquatic organisms

Widespread contamination by persistent toxic substances in Vietnam and their implications on environmental quality and human health

Vietnam is a developing country located in the central part of the Southeast Asian tropical region. The country comprises the Red River and Mekong River Delta, inhabiting more than 30 million people, which is one of the most populous areas in the world. These deltas have become one of the most productive agricultural regions in Southeast Asia. Agrochemicals have been used extensively in the past and until very recently for agricultural purposes and malaria eradication program. The present paper provides a comprehensive overview of the environmental distribution, patterns and trends of contamination of toxic substances including persistent organochlorines (OCs) and endocrine active compounds (EACs) in different environmental compartments from Vietnam. Monitoring data reported during the 1990s demonstrated widespread and elevated contamination of DDTs in air, water, sediments and soils from in Vietnam. Recent studies in frame of the Asia-Pacific Mussel Watch Program have also revealed that fish, mussels and resident birds from Vietnam contained higher concentrations of DDTs as compared to other countries in region, suggesting the role of Vietnamese environment as a significant emission source of DDT in the Southeast Asian region. Subsequent surveys on coastal lines from north and middle part of Vietnam likewise demonstrated that contamination of some endocrine active compounds such as alkylphenols and phthalates are ubiquitous. In particular, relatively high concentrations of bis-phenol A were found in some locations in Red River delta, comparable or higher than those reported for several locations in developed nations in Western Europe and North America. A case study on seasonal variation of alkylphenols and phthalates in surface water of river delta and estuary of north and central Vietnam indicated the differences in distribution of these compounds between dry and rainy seasons. Higher concentrations of alkylphenols and phthalates were found in dry season in estuary; while the contrasting pattern was observed in the river delta, showing elevated residues in rainy season. This result suggests the different behavior of alkylphenols and phthalates in river delta and in coastal environment. The temperature dependence in tropical ecosystem and the influence of the specific local sources may be reasons for the observed results in the seasonal variations. To our knowledge, this is the first extensive study on the widespread contamination of EACs in Vietnam. Regarding the trends of contamination by OCs, preliminary survey conducted in Read River delta water and sediments indicated a rapid decline trend in water and a slow decrease in sediments during 1995-2001. From ecotoxicological and human health perspectives, concentrations of bis-phenol A and di (2-ethylhexyl) phthalates in surface water from some locations in Vietnam exceeded the guideline values for Ecotoxicological Effects and the Environmental Risk Limit, respectively, suggesting potential for toxic implications on aquatic wildlife. Human exposure to persistent organic pollutants indicated that DDT residues levels in human breast milk from both Hanoi and Hochiminh city were among the highest values reported for Asian developing countries as well as developed nations. Daily intakes estimating based on the exposure through sea-foods indicates that intakes of DDTs by Vietnamese populations were among the highest rank in Asia-Pacific countries, suggesting potential risk for human exposure to elevated DDT pollution. Future studies should be focused on the time trends of POPs and EACs in biota of Vietnam with view of predicting the future trend of contamination and to reveal new clues for understanding possible toxic impacts on aquatic organisms

Eupolauridine alkaloids of Polyalthia nemoralis

Two eupolauridine alkaloids, eupolauridine (1) and 8-methoxyeupolauridine (2), together with a phenanthrene compound, 2,7-dihydroxy-3,6-dimethoxyphenanthrene (3), were isolated from the ethyl acetate extract of Polyalthia nemoralis barks. Their structures were elucidated on the basis of spectroscopic analysis and comparison with related known compounds. These compounds were evaluated the cytotoxicity on seven human cancer cell lines including KB, MCF7, LU-1, HepG2, LNCap, SW626 and SW480

Sintering behavior and physical properties of Bi0.5(Na1–xKx)0.5SnO3 lead-free ceramics

In this study, Bi0.5(Na1–xKx)0.5SnO3 (BNKS) ceramics (x = 0, 0.1, 0.2, 0.3, and 0.4) were fabricated via ultrasound wave before milling. The time of ball milling decreased from 20 to 1 h. The X-ray diffraction patterns show that the BNKS has a single-phase structure. When the potassium content increases, the phase structure of the ceramics changes from rhombohedral to tetragonal. When sintered at 1100 °C and x = 0.2, the ceramics’ physical properties are the best with the mass density of 5.59 g/cm3, the electromechanical coupling constants kp of 0,31 and kt of 0.27, the remanent polarization of      11.9 µC/cm; the dielectric constant εr of 1131, and the highest dielectric constant emax of 4800

Mental health and its determinants among adolescents living in families with separated or divorced parents in an urban area of Vietnam

Objectives We assessed the prevalence of stress, anxiety, and depression among adolescents living in families with separated or divorced parents in Hue City, Vietnam and identified factors associated with these conditions. Methods This cross-sectional study enrolled 309 adolescents, aged 12 to 17 years, living in families with separated or divorced parents in Hue City, Vietnam. The depression anxiety stress scale-21 (DASS-21) was used to measure stress, anxiety, and depression. Predictors of overall and individual mental health problems were identified using ordered and binary logistic regression, respectively. Results The DASS-21 scale revealed a 49.2% prevalence of stress, while anxiety and depression had s prevalence rates of 61.5%. Among participants, 42.4% experienced all 3 mental health issues. Several factors were identified as significant predictors of mental health problems, including poor to average economic status (adjusted odds ratio [aOR], 2.00; 95% confidence interval [CI], 1.21–3.31; p=0.007); being in high school (aOR, 5.02; 95% CI, 2.93–8.60; p<0.001); maternal occupation of teacher, healthcare professional, or official (aOR, 2.39; 95% CI, 1.13–5.03; p=0.022); longer duration of family separation or divorce (aOR, 1.24; 95% CI, 1.05–1.45; p=0.009); living with one’s mother (aOR, 1.69; 95% CI, 1.03–2.76; p=0.04); alcohol consumption (aOR, 1.70; 95% CI, 0.99–2.92; p=0.050); and being bullied (aOR, 5.33; 95% CI, 1.10–25.69; p=0.037). Most of these factors were associated with stress, anxiety, and depression. Additionally, smoking was associated with stress. Conclusion Adolescents with separated or divorced parents were at increased risk of stress, anxiety, and depression. The findings of this study provide important implications for prevention programs

High prevalence of plasmid-mediated quinolone resistance determinants in commensal members of the Enterobacteriaceae in Ho Chi Minh City, Vietnam

Antimicrobial-resistant pathogenic members of the Enterobacteriaceae are a well-defined global problem. We hypothesized that one of the main reservoirs of dissemination of antimicrobial resistance genes in Vietnam is non-pathogenic intestinal flora, and sought to isolate antimicrobial-resistant organisms from hospitalized patients and non-hospitalized healthy individuals in Ho Chi Minh City. The results identified substantial faecal carriage of gentamicin-, ceftazidime- and nalidixic acid-resistant members of the Enterobacteriaceae in both hospitalized patients and non-hospitalized healthy individuals. A high prevalence of quinolone resistance determinants was identified, particularly the qnrS gene, in both community- and hospital-associated strains. Furthermore, the results demonstrated that a combination of quinolone resistance determinants can confer resistance to nalidixic acid and ciprofloxacin, even in the apparent absence of additional chromosomal resistance mutations in wild-type strains and laboratory strains with transferred plasmids. These data suggest that intestinal commensal organisms are a significant reservoir for the dissemination of plasmid-mediated quinolone resistance in Ho Chi Minh City

Usporedba enzimske i ultrazvučne ekstrakcije albumina iz praha kondicioniranih sjemenki bundeve (Cucurbita pepo)

In this study, ultrasound- and enzyme-assisted extractions of albumin (water-soluble protein group) from defatted pumpkin (Cucurbita pepo) seed powder were compared. Both advanced extraction techniques strongly increased the albumin yield in comparison with conventional extraction. The extraction rate was two times faster in the ultrasonic extraction than in the enzymatic extraction. However, the maximum albumin yield was 16 % higher when using enzymatic extraction. Functional properties of the pumpkin seed albumin concentrates obtained using the enzymatic, ultrasonic and conventional methods were then evaluated. Use of hydrolase for degradation of cell wall of the plant material did not change the functional properties of the albumin concentrate in comparison with the conventional extraction. The ultrasonic extraction enhanced water-holding, oil-holding and emulsifying capacities of the pumpkin seed albumin concentrate, but slightly reduced the foaming capacity, and emulsion and foam stability.U ovom su radu uspoređena dva postupka izolacije albumina, proteina topljivog u vodi, iz praha kondicioniranih sjemenki bundeve (Cucurbita pepo), i to ekstrakcijom pomoću ultrazvuka te pomoću enzima. U usporedbi s konvencionalnom ekstrakcijom, oba su postupka znatno povećala prinos albumina. Ultrazvučna je ekstrakcija bila dva puta brža od enzimske, međutim, najveći je prinos albumina od 16 % dobiven enzimskom ekstrakcijom. Ispitana su funkcionalna svojstva koncentrata albumina dobivenog iz sjemenki bundeve enzimskom, ultrazvučnom i konvencionalnom ekstrakcijom. Enzimska hidroliza nije utjecala na funkcionalna svojstva koncentrata albumina, za razliku od konvencionalne ekstrakcije. Ultrazvučnom su ekstrakcijom poboljšana svojstva zadržavanja vode i ulja te emulgiranja, a neznatno smanjena svojstva pjenjenja te stabilnost pjene i emulzije koncentrata albumina

THE IMPACT OF NATIONAL CULTURE ON BILATERAL TRADE IN VIETNAM

The purpose of this paper is to examine whether or to what extent national culture influences bilateral trade flows between Vietnam and its trading partners. Using a panel dataset of 52 countries from 2001 till 2011 and six cultural dimensions of Hofstede, the regression analysis performed by gravity model shows that national culture and bilateral trade flows between Vietnam and trading partners are significantly correlated. This study's implications may help macro-policy makers devise better export promotion policies and boost the volume of bilateral trade between Vietnam and other countries around the world