Lottery Mindsets and the Cross Sectional Returns in the Vietnam Stock Market

Viet Anh Hoang(Viet Anh Hoang Viet Anh Hoang),Ba Thanh Truong(Ba Thanh Truong Ba Thanh Truong),Duong Viet Anh(Duong Viet Anh Duong Viet Anh),Hoang Van Hai(Hoang Van Hai Hoang Van Hai) People & Global Business Association 2024 Global Business and Finance Review Vol.29 No.4

Purpose: In this study, we evaluate the relationship between lottery-type stocks and future return in the Vietnam stock market from July 2010 to June 2023. Design/methodology/approach: We employ portfolio-level analysis and firm-level cross-sectional regressions fol-lowing Bali et al. (2011). Findings: We find that the minimum daily return (MINRET) is negative and statistically significant in the cross-sec-tional pricing of stocks. The minimum daily return during the previous month and anticipated stock returns are negatively and significantly correlated, according to portfolio-level analyses and firm-level cross-sectional regressions. However, the maximum daily return (MAXRET) effect is not priced in the Vietnam stock market. These findings hold up under controls for liquidity, skewness, momentum, short-term reversals, size, and book-to-market. Research limitations/implications: This study provides an understanding of the lottery phenomenon in the empiri-cal dimension, especially in the emerging stock market. Originality/value: Importantly, our empirical findings that the MINRET, not MAXRET, effect is strongly exhibited as a lottery-type stock's behavior in the Vietnam market.

The fates of microbial populations on pig carcasses during slaughtering process, on retail cuts after slaughter, and intervention efficiency of lactic acid spraying

Van Ba, Hoa,Seo, Hyun-Woo,Seong, Pil-Nam,Kang, Sun-Moon,Cho, Soo-Huyn,Kim, Yoon-Seok,Park, Beom-Young,Moon, Sung-Sil,Kang, Se-Ju,Choi, Yong-Min,Kim, Jin-Hyoung Elsevier 2019 International journal of food microbiology Vol.294 No.-

<P><B>Abstract</B></P> <P>This study was conducted to detect and identify microbial populations on pig carcasses at different slaughtering stages and on retail pork cuts at 24 h after slaughter as well as to evaluate the intervention efficiency of sprays containing different concentrations (2% and 4%) of lactic acid. The sprays were applied to the carcass surfaces at the end of the slaughter line. Microbial samples were collected from carcass surfaces after bleeding and after eviscerating, and from retail cuts at 24 h after chilling/spraying. The detected microorganisms were identified through using a Microflex identification instrument and 16S rRNA gene sequencing. The diversity of the bacterial genera; <I>Staphylococcus</I>, <I>Salmonella</I>, <I>Shigella</I>, <I>Enterococci</I>, <I>Escherichia</I>, <I>Acinetobacter</I> and <I>Corynebacterium</I> spp. showed counts ranging from 2.70 to 4.91 log<SUB>10</SUB> cfu/100 cm<SUP>2</SUP> on the carcasses during slaughter. Most of these genera were also detected on the carcasses after 24 h of chilling. Three species (<I>Staphylococcus hyicus</I>, <I>Acinetobacter albensis</I>, and <I>Corynebacterium xerosis</I>) were also found on the retail cuts of non-sprayed carcasses but not on those of the sprayed groups. Significantly greater reductions in all bacterial species were observed on the carcasses and retail cuts that were sprayed with lactic acid, particularly at the 4% level. Thus, spraying with 4% lactic acid may be an effective intervention for controlling bacterial contamination on pig carcasses to improve the microbiological safety of pork meat.</P> <P><B>Highlights</B></P> <P> <UL> <LI> A diversity of bacterial species was found on pig carcass surfaces during slaughter. </LI> <LI> After 24 h chilling, carcasses were found contaminated with a variety bacterial species. </LI> <LI> Spray with lactic acid significantly reduced bacterial species on carcasses and cuts. </LI> <LI> Three genus (<I>Staphylococcus</I>, <I>Acinetobacter</I>, <I>Corynebacterium</I>) were found on cuts of control carcasses. </LI> <LI> Microbiological safety of pork could be controlled by spraying with 4% lactic acid. </LI> </UL> </P>

Effect of coating with combined chitosan and gallic acid on shelf-life stability of Jeju black cattle beef

Van-Ba Hoa,Dong-Heon Song,Kuk-Hwan Seol,Yun-Seok Kim,Hyun-Wook Kim,In-Seon Bae,Soo-Hyun Cho Asian Australasian Association of Animal Productio 2024 Animal Bioscience Vol.37 No.1

Objective: Beef of Jeju black cattle (JBC) is considered as a healthy meat type due to its significantly higher unsaturated fatty acids (UFA). Lipid (e.g., UFA) is highly susceptible to oxidizing agents, which results in the quality deterioration and economic value loss of meat products. Therefore, development and application of novel preservative techniques is necessary to improve the shelf-life stability of high-UFA beef. The objective of this study was to assess the applicability of chitosan-based coatings in preservation of JBC beef. Methods: Different coating solutions: 2% chitosan alone, and 2% chitosan containing 0.1% or 0.3% gallic acid were prepared to investigate their applicability in preservation of fresh beef during storage. Jeju black cattle beef (2-cm thick steaks) were non-coated (control) or coated with the above coating solutions, placed on trays, over-wrapped with plastic film and stored at 4℃. The microbiological indices, color, total volatile basic nitrogen (TVBN) and lipid oxidation of the beef were investigated after 1, 10, and 21 days of storage. Results: Coating with 2% chitosan alone reduced the spoilage bacteria count, TVBN and thiobarbituric acid reactive substances levels in the beef compared with control during storage (p<0.05). Noticeably, coating with 2% chitosan containing 0.1% or 0.3% gallic acid was more effective on retardation of spoilage bacteria growth, lipid oxidation and discoloration in the beef compared to the chitosan coating alone over the storage period (21 days) (p<0.05). Conclusion: Taken together, the combined chitosan and gallic acid coating could be used as a bio-preservative technique in the meat industry.

Quality characteristics and flavor compounds of pork meat as a function of carcass quality grade

Van Ba Hoa,성필남,조수현,강선문,김윤석,문성실,최용민,김진형,설국환 아세아·태평양축산학회 2019 Animal Bioscience Vol.32 No.9

Objective: The present work aimed at evaluating the effects of carcass quality grade (QG) on the quality characteristics of pork meat according to Korean carcass QG system. Methods: Pork carcasses with varying in QG: 1+ (QG1+, n = 10), 1 (QG1, n = 10) and 2 (QG2, n = 10), were used to evaluate the relationship between carcass QG and meat quality. The meat quality traits, fatty acid profiles, flavor compounds and sensory qualities were measured on the longissimus dorsi muscle samples of these carcasses. Results: Pork meat of higher QG (QG1+) presented significantly higher fat content (5.43%), C18:2n-6 level (19.03%) and total unsaturated fatty acids content (62.72%). Also, the QG1+ meat was significantly higher in levels of classes of flavor compounds such as aldehydes, alcohols and hydrocarbons in comparison to those of the meat samples from the lower QG groups. The sensory evaluation results (flavor, juiciness, tenderness, and acceptability scores) of QG1+ meat was significantly higher than the QG1 and QG2 meats. The pork with lower QG (i.e., QG2) was found positively correlated to redness (r = 0.987), C18:1n-9 level (r = 1.000) but negatively correlated to the fat content (r = –0.949), and flavor (r = –0.870), juiciness (r = –0.861), tenderness (r = –0.862) and acceptability (r = –0.815) scores. Conclusion: The pork with higher QG had higher fat content, total unsaturated fatty acids and better eating quality, thus producing pork with higher QGs should be considered in order to satisfy the consumer’s expectation.

Chemical constituents from Vietnamese mangrove <i>Calophyllum inophyllum</i> and their anti-inflammatory effects

Van Thanh, Nguyen,Jang, Hyun-Jae,Vinh, Le Ba,Linh, Kieu Thi Phuong,Huong, Phan Thi Thanh,Cuong, Nguyen Xuan,Nam, Nguyen Hoai,Van Minh, Chau,Kim, Young Ho,Yang, Seo Young Elsevier 2019 Bioorganic chemistry Vol.88 No.-

<P><B>Abstract</B></P> <P>In a search for anti-inflammatory activity in resources from Vietnamese mangroves, we found that a methanolic extract from the leaves of <I>Calophyllum inophyllum</I> (CIL) showed significant anti-inflammatory effects <I>in vitro</I>. Using various chromatographic techniques, we subsequently isolated 12 compounds (<B>1</B>–<B>12</B>) from a methanolic extract of CIL, including two novel compounds (<B>1</B>–<B>2</B>). The inhibitory effects of these compounds on lipopolysaccharide-induced nitric oxide (NO) production in RAW264.7 cells were also evaluated. Compound <B>1</B> significantly suppressed NO production (IC<SUB>50</SUB> = 2.44 ± 0.88 µM), the secretion of pro-inflammatory cytokines (including interleukin-1 beta and tumor necrosis factor alpha), and the expression of inducible nitric oxide synthase through downregulation of nuclear factor-kappa-B signaling cascades. These results suggest that <I>C. inophyllum</I> leaves might be a useful resource for the development of drugs for the treatment of inflammation.</P> <P><B>Highlights</B></P> <P> <UL> <LI> Twelve compounds were isolated from Vietnamese mangrove <I>Calophyllum inophyllum</I>. </LI> <LI> Two new compounds <B>1</B> and <B>2</B> were determined by spectroscopic methods. </LI> <LI> Compound <B>1</B> showed significant anti-inflammatory activity. </LI> <LI> These results suggested that <I>C. inophyllum</I> might useful as the anti-inflammation drug. </LI> </UL> </P> <P><B>Graphical abstract</B></P> <P>[DISPLAY OMISSION]</P>

Significant role of μ-calpain (CANP1) in proliferation/survival of bovine skeletal muscle satellite cells

Van Ba, Hoa,Inho, Hwang Springer US 2013 In vitro cellular & developmental biology Animal Vol.49 No.10

<P>Calpains are a family of Ca<SUP>2+</SUP>-dependent intracellular cysteine proteases, including the ubiquitously expressed μ-calpain (CANP1) and m-calpain (CANP2). The CANP1 has been found to play a central role in postmortem proteolysis and meat tenderization. However, the physiological roles of CANP1 in cattle skeletal satellite cells remain unclear. In this study, three small interference RNA sequences (siRNAs) targeting CANP1 gene were designed and ligated into pSilencer plasmid vector to construct shRNA expression constructs. Suppression of CANP1 in satellite cells was evaluated using these shRNA expressing constructs. Our results revealed that all three siRNAs could downregulate the expression of CANP1. Suppression of CANP1 significantly reduced cell viability in cell proliferation when compared with control cells. We found a crosstalk between CANP1 and caspase systems, particularly suppression of CANP1 resulted in an increase in the expressions of apoptotic caspases such as caspase-3, caspase-6, caspase-7, caspase-8, and caspase-9, as well as heat-shock protein (HSP) systems. Additionally, suppression of CANP1 led to the upregulation of other apoptosis and DNA damage-regulating genes whilst at the same time downregulating proliferation, migration, and differentiation-regulating genes. The results of our findings report for the first time that suppression of CANP1 resulted in the activation of caspase and HSP systems which might in turn regulate apoptosis through the caspase-dependent cell death pathway. This clearly demonstrates the key roles of CANP1 in regulation of cell proliferation and survival.</P><P><B>Electronic supplementary material</B></P><P>The online version of this article (doi:10.1007/s11626-013-9666-5) contains supplementary material, which is available to authorized users.</P>

Effects of extraction methods of shiitake by-products on their antioxidant and antimicrobial activities in fermented sausages during storage

Van Ba, Hoa,Seo, Hyun-Woo,Cho, Soo-Hyun,Kim, Yoon-Seok,Kim, Jin-Hyoung,Ham, Jun-Sang,Park, Beom-Young,Pil-Nam, Seong Elsevier 2017 Food control Vol.79 No.-

<P>Two different solvents (water and ethanol/water at 50/50 ratio) were used for extraction of phenolic contents in shiitake by-products, and the antioxidant and antimicrobial efficacies of fermented sausages incorporated with these two extracts were investigated during storage. Also, shelf-life stability of fermented sausages fortified with these two extracts was compared with those fortified with BHT (0.02%) or nitrite (0.01%)/nitrate (0.005%). Significantly higher antioxidant activities (e.g., ferrous ion chelating and DPPH scavenging) and inhibitory capacity against lipid oxidation (e.g., TBARS reduction) were observed in the fermented sausages made with ethanolic extract (shiitake by-products extracted with ethanol/ water) compared with those added with aqueous extract (extracted with water) or BHT, nitrite/nitrate and control throughout storage. The ethanolic extract treated-samples also showed a significantly slower increasing rate of total aerobic count (6.54-6.95 login cfu/g) than the ones treated with aqueous extract (6.74-7.16 login cfu/g) during storage. Otherwise, extract obtained from the ethanolic extract treated samples had stronger antimicrobial activities against pathogens than the one obtained from aqueous extract treated-samples (e.g., minimum inhibitory concentrations, MIC = 2.05 & 3.64, 3.12 & 5.20 and 7.29 & 10.41 mg/mL for S. aureus, L monocytogenes and E. coli 0157, respectively). Especially, the antimicrobial activity against S. typhimurium (MIC = 37.50 mg/mL) was observed only in the extract of ethanolic extract treated-samples. Our study demonstrates that the extraction with ethanol/water solvent is a more effective method to obtain bioactive compounds enriched-extract which better improved the shelf-life stability of fermented sausages during storage without defects in quality in comparison to the extraction method with water. (C) 2017 Elsevier Ltd. All rights reserved.</P>

The effects of pre-and post-slaughter spray application with organic acids on microbial population reductions on beef carcasses

Van Ba, Hoa,Seo, Hyun-Woo,Pil-Nam, Seong,Kim, Yoon-Seok,Park, Beom Young,Moon, Sung-Sil,Kang, Se-Ju,Choi, Yong-Min,Kim, Jin-Hyoung Elsevier 2018 Meat science Vol.137 No.-

<P><B>Abstract</B></P> <P>As an attempt to control bacterial cross-contamination of beef carcasses, in the present investigation acetic acid and lactic acid (3% v/v) were used for bacterial decontamination. For the decontamination, cows were sprayed with each above acid at two different stages; (i) on live animal's hides, (ii) on carcass surfaces immediately after slaughter. Microbiological samples were taken on different hide areas of animals before spraying and on carcass surfaces at 24h after spraying. Meat quality traits were also analyzed on the sprayed animals. The detected microorganisms were identified using 16SrRNA gene sequencing. A diversity of bacterial species such as Staphylococcus, Shigella, Bacillus, Escherichia and Salmonella etc. were found on both external hide and carcass surface samples. The decontamination sprays significantly reduced the numbers (2–5 log unit) of all aforementioned bacterial species on carcass surfaces as compared with non-sprayed control. Thus, the two times-spray applications with the acid could be an effective tool for reducing bacterial cross-contaminations of beef carcass without adverse effect on meat quality.</P> <P><B>Highlights</B></P> <P> <UL> <LI> A diversity of bacterial species was detected on both external hide and carcass surface. </LI> <LI> A high cross-contamination of carcass surface with bacterial populations was found. </LI> <LI> Spray with acids significantly reduced numbers of all bacterial species on carcasses. </LI> <LI> Spray with lactic acid produced better decontamination efficiency than acetic acid. </LI> <LI> Microbiological safety of beef tissue could be obtained by applying 3% lactic acid spray. </LI> </UL> </P>

The effects of starter culture types on the technological quality, lipid oxidation and biogenic amines in fermented sausages

Van Ba, H.,Seo, H.W.,Kim, J.H.,Cho, S.H.,Kim, Y.S.,Ham, J.S.,Park, B.Y.,Kim, H.W.,Kim, T.B.,Seong, P.N. Academic Press, etc 2016 FOOD SCIENCE AND TECHNOLOGY -ZURICH- Vol.74 No.-

<P>The aim of this study was to evaluate the effect of different starter cultures on the quality, lipid oxidation and biogenic amines in fermented sausages. Six treatments (5 inoculated with 5 different commercial starter cultures and 1 without inoculation) were prepared. Our results revealed that all the inoculated batches had significantly lower pH values compared with the control (P < 0.05). The inoculation with starter cultures resulted in the increased lipid oxidation levels in the products. Furthermore, all the inoculated batches presented significantly higher scores for sensory attributes such as flavor, taste and acceptability in comparison to the control. Putrescine (88.64-455.39 mg/kg) and tyramine (223.85-444.67 mg/kg) were the two unique biogenic amines detected in all treatments. Putrescine was positively correlated (r = 0.868, P < 0.05) with pH, and most inoculated batches with lower pH values presented lower putrescine contents compared with control (P < 0.05). While, tyramine contents were found significantly higher in all inoculated batches, except the batches inoculated with SA2 (Staphylococcus carnosus + Staphylococcus xylosus + Debaryomyces hansenii + Lactobacillus curvatus) or SA7 (Staphylococcus carnosus + Lactobacillus sakei). Overall, the starter cultures significantly affected most quality parameters determined. On the basis of present results, the starter culture (SA7) containing Staphylococcus carnosus and Lactobacillus sakei emerged out to be more suitable for production of high quality products with lowered biogenic amines. (C) 2016 Elsevier Ltd. All rights reserved.</P>

Role of calpastatin in the regulation of mRNA expression of calpain, caspase, and heat shock protein systems in bovine muscle satellite cells

Van Ba, Hoa,Reddy, Bandugula Venkata,Hwang, Inho Springer-Verlag 2015 In vitro cellular & developmental biology Animal Vol.51 No.5