This paper examines the relationship between working capital management and corporate profitability of Vietnamese listed firms. We propose a different interpretation of the empirical evidence that takes into account the dependency of collection and payment decisions. This helps establish the causal relationship between working capital management and firm profitability, which made the interpretation of the empirical results more meaningful and consistent with the real practice of firms. The analysis results based on a sample of 374 Vietnamese listed firms in the period from 2008 to 2014 show that working capital management positively affects the performance of Vietnamese listed companies. However, the results also indicate that Vietnamese firms do not intentionally use trade credit policy to enhance firms’ performance and the observed relationship between trade credit and profitability, though significant, is just by coincidence.
Incursions of Mimosa pigra L., a super-invasive plant, were detected in Hoa Vang district, Da Nang city, Vietnam. This invasive species posed threats to the local agricultural and natural areas, especially to Ba Na - Nui Chua Nature Reserve located in the district. In this study, a habitat model was developed to predict potential areas for the upcoming occurrences of the plant. Detected locations of the species were analyzed in association with seven environmental layers (15 m spatial resolution), which characterized the habitat conditions facilitating the plant incursion, to calculate a multivariate statistic, Mahalanobis distance (D2). Mimosa occurrences were divided into subsets of modelling (for model construction) and validating data (for selecting the best model from replicate runs). The model performance was tested using a null model of 1,000 random points and indicated a significant relationship between D2 values and mimosa occurrence. The D2 model performed markedly better than the random model. The null model in combination with the entire dataset of mimosa locations was also used to identify the threshold D2 value. Using that threshold value, 99.5% of existing mimosa locations were detected and 20.3% of the study area was determined as high-risk areas for mimosa occurrence. These identified high risk areas would make an important contribution to the local alien invasive species management. Given the potential threats to these species from illegal harvesting, that information may serve as an important benchmark for future habitat and population assessments. The spatial modelling techniques in this study can easily be applied to other species and areas.
African swine fever (ASF) was officially reported in Vietnam in February 2019 and spread across the whole country, affecting all 63 provinces and cities.
Material and Methods
In this study, ASF virus (ASFV) VN/Pig/HaNam/2019 (VN/Pig/HN/19) strain was isolated in primary porcine alveolar macrophage (PAM) cells from a sample originating from an outbreak farm in Vietnam’s Red River Delta region. The isolate was characterised using the haemadsorption (HAD) test, real-time PCR, and sequencing. The activity of antimicrobial feed products was evaluated via a contaminated ASFV feed assay.
Phylogenetic analysis of the viral p72 and EP402R genes placed VN/Pig/HN/19 in genotype II and serogroup 8 and related it closely to Eastern European and Chinese strains. Infectious titres of the virus propagated in primary PAMs were 106 HAD50/ml. Our study reports the activity against ASFV VN/Pig/HN/19 strain of antimicrobial Sal CURB RM E Liquid, F2 Dry and K2 Liquid. Our feed assay findings suggest that the antimicrobial RM E Liquid has a strong effect against ASFV replication. These results suggest that among the Sal CURB products, the antimicrobial RM E Liquid may have the most potential as a mitigant feed additive for ASFV infection. Therefore, further studies on the use of antimicrobial Sal CURB RM E Liquid in vivo are required.
Our study demonstrates the threat of ASFV and emphasises the need to control and eradicate it in Vietnam by multiple measures.