Profitability and the Distance to Default: Evidence from Vietnam Securities Market

Van Thuy Thi VU,Nhung Hong DO,Hung Ngoc DANG,Tram Ngoc NGUYEN 한국유통과학회 2019 The Journal of Asian Finance, Economics and Busine Vol.6 No.4

The paper examines the influence of profitability on distance to default (DD) in Vietnam securities market. The investigated sampl e consists of 211 companies listed on HOSE during 18 years from 2010 to 2017. We apply KMV model to calculate distance to d efault and use both macroeconomics factors and firm specific factors as independent variables. Using General Least Squared (GL S) method, we find evidence to confirm the positive relationship between profitability and distance to default. This result showed t hat, although profitability did not directly reflect the cash flow generated, a good profitable enterprise would be an important facto r to help facilitate and generate cash flow and at the same time debt was guaranteed when it was due. Besides, the test results rev ealed that the financial structure and sales on assets have the inverse effect on the distance to default at the significance level o f 5%. The results also revealed that a group of macro factors had an influence on the distance to default of businesses, including spre ad, GDP and trade balance (via exchange rates). Gross domestic income had certain impacts on the distance to default of businesse s. This was also a basic indicator measuring the national economic cycle.

Impacts of Ownership Structure on Systemic Risk of Listed Companies in Vietnam

VU, Van Thi Thuy,PHAN, Nghia Trong,DANG, Hung Ngoc Korea Distribution Science Association 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.2

The research objective of the paper is to clarify the factors influencing system risks of listed companies in Vietnam, with a focus on clarifying the relationship and quantifying the impacts of ownership structure on systemic risk of listed companies. The data used in this study included financial statements and stock price data of listed companies on the Ho Chi Minh City Stock Exchange and Hanoi Stock Exchange of Vietnam stock market in the period from 2010 to 2017. The paper used the method of estimation in establising the regression models to choose among three models: Random Effect Model, Fixed Effect Model or Pooled OLS for regression using Stata statistical software. The research results showed that state ownership and ownership by foreign investors were positively related to systemic risk, while ownership by domestic investors had a reverse relationship with systemic risk of listed companies in Vietnam. In addition, as a control variable, both company size and profitability had an effect on the systemic risk of listed companies in the research sample. Based on the research results, the authors interpreted some of the implications in order to minimize systemic risks in the operation of listed companies in Vietnam.

Effect of nanostructured MoS2 morphology on the glucose sensing of electrochemical biosensors

Dinh Van Tuan,Dang Thi Thuy Ngan,Nguyen Thi Thuy,Hoang Lan,Nguyen Thi Nguyet,Vu Van Thu,Vuong-Pham Hung,Phuong Dinh Tam 한국물리학회 2020 Current Applied Physics Vol.20 No.9

In this study, the effects of the morphological characteristics of MoS2 nanomaterials on the glucose sensing of electrochemical biosensors were explored. Nanostructured MoS2 materials, including nanoparticles (NPs), nanoflowers (NFs), and nanoplatelets (NPLs), were prepared via a simple hydrothermal method. The structure and morphological characteristics of MoS2 nanomaterials were examined through X-ray diffraction, field emission scanning electron microscopy, and Raman spectroscopy. Electrochemical properties were analyzed through cyclic voltammetry. Results showed that the obtained sensitivity was 64, 68.7, and 77.6 μAmM 1 cm 2 for MoS2 NP-, MoS2 NF-, and MoS2 NPL-based biosensors, respectively. The limit of detection (LOD) of all MoS2-based glucose biosensors was 0.081 mM. In addition, the pH, temperature, glucose oxidase (GOx) concentration, reproducibility, specificity, and stability of glucose biosensors with different MoS2 morphologies were also investigated and indicated the oxidation current response of the MoS2 NPL-based glucose biosensor was higher than that of MoS2 NF- and NP-based biosensors.

The potential efficacy of the E2-subunit vaccine to protect pigs against different genotypes of classical swine fever virus circulating in Vietnam

Ha Thi Thanh Tran,Duc Anh Truong,Viet Duc Ly,Hao Thi Vu,Tuan Van Hoang,Chinh Thi Nguyen,Nhu Thi Chu,Vinh The Nguyen,Duyen Thuy Nguyen,Kohtaroh Miyazawa,Takehiro Kokuho,Hoang Vu Dang 대한백신학회 2020 Clinical and Experimental Vaccine Research Vol.9 No.1

Purpose: To date, many kinds of classical swine fever (CSF) vaccines have been developed to protect against this disease. However, the efficacy of these vaccines to protect the pig against field CSF strains needs to be considered, based on circulating strains of classical swine fever virus (CSFV). Materials and Methods: Recombinant E2-CSFV protein produced by baculovirus/insect cell system was analyzed by western blots and immunoperoxidase monolayer assay. The effect of CSFV-E2 subunit vaccines was evaluated in experimental pigs with three genotypes of CSFV challenge. Anti-E2 specific and neutralizing antibodies in experimental pigs were analyzed by blocking enzyme-linked immunosorbent assay and neutralization peroxidize-linked assay. Results: The data showed that CSFV VN91-E2 subunit vaccine provided clinical protection in pigs against three different genotypes of CSFV without noticeable clinical signs, symptoms, and mortality. In addition, no CSFV was isolated from the spleen of the vaccinated pigs. However, the unvaccinated pigs exhibited high clinical scores and the successful virus isolation from spleen. These results showed that the E2-specific and neutralizing antibodies induced by VN91-E2 antigen appeared at day 24 after first boost and a significant increase was observed at day 28 (p<0.01). This response reached a peak at day 35 and continued until day 63 when compared to controls. Importantly, VN91-E2 induced E2-specific and neutralizing antibodies protected experimental pigs against high virulence of CSFVs circulating in Vietnam, including genotype 1.1, 2.1, and 2.2. Conclusion: These findings also suggested that CSFV VN91-E2 subunit vaccine could be a promising vaccine candidate for the control and prevention of CSFV in Vietnam.

Detection of pathogenic microorganisms using biosensor based on multi-walled carbon nanotubes dispersed in DNA solution

Nguyen Thi Thuy,Phuong Dinh Tam,Mai Anh Tuan,Anh-Tuan Le,Le Thi Tam,Vu Van Thu,Nguyen Van Hieu,Nguyen Duc Chien 한국물리학회 2012 Current Applied Physics Vol.12 No.6

The present paper introduces a facile and cost-effective route for the direct dispersion of multi-walled carbon nanotubes (MWCNTs) in DNA solution. Their application in detecting Escherichia coli O157:H7using DNA biosensorwas demonstrated. The dispersion state of theMWCNTswas characterized via UVeVis spectroscopy, transmission electron microscopy, and field emission scanning electron microscopy. The interaction between DNA sequence and the MWCNTs was investigated using Raman spectroscopy and Fourier transform infrared spectroscopy. As-obtainedMWCNT solutionwas used in the preparation of DNA sensor. Results revealed that the developed DNA sensor can detect a DNA target as low as 1 nM in a buffer solution. The sensitivity of the DNA sensor reached approximately 0.19 nM/mV. The effect of dispersion parameters, including pH values, DNA concentration, ion strength, and sonication time, on sensor response was also studied. TheDNA sensor can respondwell to 120 min of sonication time, a pH value of 9, and 20 mM of DNA sequence concentration. The results of the present study showed a potential application of the DNA sensor in the detection of Escherichia coli O157:H7.

High-performance nonenzymatic electrochemical glucose biosensor based on AgNP-decorated MoS2 microflowers

Dinh Van Tuan,Dang Thi Thuy Ngan,Dao Vu Phuong Thao,Nguyen Thi Nguyet,Nguyen Thi Thuy,Nguyen Phuong Thuy,Vu Van Thu,Vuong-Pham Hung,Phuong Dinh Tam 한국물리학회 2022 Current Applied Physics Vol.43 No.-

A facile hydrothermal route was used to synthesize silver nanoparticle (AgNP)-decorated microflower molybdenum disulfide (MoS2-MF) for bio-electrochemical platform fabrication to detect nonenzymatic glucose concentration. The morphologies of the materials were studied by scanning electron microscopy, and their structural characteristics were analyzed by X-ray diffractometry and energy-dispersive X-ray spectroscopy. The electrochemical characteristics of the AgNPs/MoS2-MF/PtE biosensor were studied by cyclic voltammetry. The obtained data indicated that the developed nonenzymatic glucose sensor has a large linear response between 1.0 and 15.0 mM, a limit of detection of as low as 1.0 mM, and a sensitivity of 46.5 μA nM-1 cm-2. The biosensor also displayed outstanding selectivity, stability, reproducibility, and repeatability. Additionally, the AgNPs/MoS2-MF/ PtE biosensor was utilized to detect glucose concentration in real sample and showed practical application potential for glucose detection.

Assessment of Left Ventricular Function and Regional Wall Motion by 256-Slice Dual-Source Coronary CT Angiography: A Comparison With 2D Transthoracic Echocardiography

Le Thi Thuy Lien,Nguyen Khoi Viet,Hoang Van Hoa,Phung Bao Ngoc,Nguyen Ngoc Trang,Vu Thi Kim Thoa,Nguyen Cong Tien,Phan Anh Phuong,Pham Minh Thong,Vu Dang Luu 아시아심장혈관영상의학회 2022 Cardiovascular Imaging Asia Vol.6 No.2

Objective: To compare left ventricular (LV) function, ejection fraction (EF), end-diastolic volume (EDV), end-systolic volume (ESV), and regional wall motion analyzed in 256-slice dualsource coronary CT angiography (DSCT) with 2D transthoracic echocardiography (TTE). Materials and Methods: One hundred twelve patients suspected of coronary artery disease underwent DSCT and 2D-TTE within one week for LVEF, EDV, and ESV. The correlation between DSCT and 2D-TTE measurements was analyzed through linear regression and Bland- Altman analysis. Regional wall motion was visually scored with a 3-point scale (1, normal; 2, hypokinesia; 3, dysphagia, akinesia). Results: Average LVEF at 66.45%±1.27% (range 23%–85%) as determined on DSCT compared with 66.09%±1.01% (range 25%–84%) on 2D-TTE. LVEF exhibited a good correlation between DSCT and 2D-TTE (r=0.715; p<0.001). Good correlations between DSCT and 2D-TTE were demonstrated for LVEDV (r=0.732; p<0.001) and LVESV (r=0.841; p<0.001). Mean differences (±SD) of 1.78±24.10 mL (p<0.05) and 0.77±13.70 mL (p<0.05) were observed between DSCT and 2D-TTE for LVEDV and LVESV, respectively. LVEF was slightly overestimated with DSCT (0.52%±9.59%; p<0.05). Although the LVEF values calculated by DSCT and 2D-TTE were similar, EDV and ESV from DSCT were statistically higher than those from 2D-TTE (p<0.05). Agreement between DSCT and 2D-TTE in regional wall motion was 96.4%, κ=0.840. Conclusion: DSCT can provide comparable results to those using 2D-TTE for LV function (EF, EDV, and ESV) and regional wall motion assessment in a heterogeneous population.

Determinants of Liquidity in Manufacturing Firms

VU, Thu Minh Thi,TRUONG, Tu Van,DINH, Dung Thuy Korea Distribution Science Association 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.12

This study examines the factors that affect firm's liquidity in manufacturing companies listed in Vietnam. Factors studied include the board size, the board independence, the firm size, the firm age, and its return. We use different metrics to measure firm's solvency status, including the cash ratio, the quick ratio, and the cash conversion cycle. Accordingly, three econometric models are built to test hypotheses proposed by researchers in order to explain the relationship between the five factors above and liquidity's measures. The study used the data set of manufacturing companies listed on the Ho Chi Minh City Stock Exchange in the period from 2015 to 2019. The final sample group comprises 139 firms with 633 observations. The results show that in manufacturing firms, while the cash ratio and the quick ratio are positively associated to the board size, the board independence, and the firm's profitability, the net operating cycle is negatively correlated to the board size, the firm size, the board independence, and the profitability. Therefore, larger firms with larger board size and more independent members can help to improve capital management efficiency.There is no evidence for the relationship between the firm age and solvency measurements, between cash conversion cycle and firm's profitability.

SCN1A Gene Mutation and Adaptive Functioning in 18 Vietnamese Children with Dravet Syndrome

Thi Thu Hang Do,Diem My Vu,Thi Thuy Kieu Huynh,Thi Khanh Van Le,손은화,Thieu Mai Thao Le,Huu Hao Ha,Chi Bao Bui 대한신경과학회 2017 Journal of Clinical Neurology Vol.13 No.1

Background and Purpose Dravet syndrome is a rare and severe type of epilepsy in infants. The heterogeneity in the overall intellectual disability that these patients suffer from has been attributed to differences in genetic background and epilepsy severity. Methods Eighteen Vietnamese children diagnosed with Dravet syndrome were included in this study. SCN1A variants were screened by direct sequencing and multiplex ligation-dependent probe amplification. Adaptive functioning was assessed in all patients using the Vietnamese version of the Vineland Adaptive Behavior Scales, and the results were analyzed relative to the SCN1A variants and epilepsy severity. Results We identified 13 pathogenic or likely pathogenic variants, including 6 that have not been reported previously. We found no correlations between the presence or type of SCN1A variants and the level of adaptive functioning impairment or severity of epilepsy. Only two of nine patients aged at least 5 years had an adaptive functioning score higher than 50. Both of these patients had a low frequency of convulsive seizures and no history of status epilepticus or prolonged seizures. The remaining seven had very low adaptive functioning scores (39 or less) despite the variability in the severity of their epilepsy confirming the involvement of factors other than the severity of epilepsy in determining the developmental outcome. Conclusions Our study expands the spectrum of known SCN1A variants and confirms the current understanding of the role of the genetic background and epilepsy severity in determining the developmental outcome of Dravet syndrome patients.

Factors Affecting the Application of Strategy Management Accounting in Vietnamese Logistics Enterprises

Thi Kim Anh VU,Bich Ha DAM,Thi Thuy Van HA 한국유통과학회 2022 유통과학연구 Vol.20 No.1

Purpose This research aims to investigate factors affecting the application of strategic management accounting in Vietnamese Logistics Enterprises. Design/Methodology/ Approach: Quantitative research was conducted and data was collected by sending questionnaires to 188 accountants and directors from Vietnamese Logistics Enterprises (including, transportation, warehousing and forwarding). 5 factors (namely: size and organizational structure, technological advancement, and strategic management accounting implementing costs) were selected to measure the application of strategic management accounting (SMA) in Vietnamese Logistics Enterprises (LEs) through correlation and regression analysis. Results: The empirical findings show that there exists a significant association between these factors and the SMA application. LEs have strongly supported the application of SMA as a tool to provide information for making their strategic decisions. The factors including size and organizational structure, technological advancement, SMA implementing c osts, and strategy positively impact the SMA application in both financial and non-financial aspects. This finding helps the adm inistrators realize the importance of SMA. Conclusions: This study provided an overview of SMA application and its benefits to enterprises. It helps managers have a better understanding of SMA and future directions for application. Moreover, the research results will be useful for managers to identify factors influencing their SMA practices and improve the current management process applied in organizations.