The research aims to investigate the determinants of the financial performance of 1343 Vietnamese companies categorized into six different industries listed on the Vietnamese Stock Exchange over a four-year period from 2014 to 2017 using STATA software. Those determinants include firm size, liquidity, solvency, financial leverage, and financial adequacy while the financial performance is evaluated by three different ratios: return on assets (ROA), return on equity (ROE), and return on sales (ROS). The research results from these companies during the given period indicate that: (1) Firm size has a positive impact on both ROA and ROS, especially ROA but it has the opposite effect on ROE, (2) Adequacy ratio impacts positively on ROA and ROS but negatively on ROE, (3) Financial leverage considerably negative influences on ROE and ROS but positively impacts on ROA, (4) Liquidity has a positive effect on both ROA and ROE but a negative one on ROS and (5) Solvency has a positive impact on ROA and ROS but the negative impact on ROE. Furthermore, agriculture accounted for the highest percentage of profitability at the beginning, which was replaced by service for ROA but manufacture for ROE from 2016 to 2017 as opposed to the least in transportation.

Background: The flowering plant Hippophae rhamnoides L. has been used for many studies on fruit or leaf extracts. This study was conducted to investigate the development of a new cosmetic material from H. rhamnoides fruits and leaves that have by antioxidant, anti-inflammatory and wrinkle improvement activities. Methods and Results: The antioxidant abilities of H. rhamnoides extracts, including of a water-soluble fruit powder (FW), a fatsoluble fruit powder (FF), a supercritical extract of fruit by-product (BS), and a mixture of leaf and fruit (MIX), were investigated in vitro. A DPPH radical assay for antioxidant activity was performed for these fractions alongside assay to evaluate the total phenolic and flavonoid content (TPC and TFC). As expected, the MIX had the highest DPPH radical scavenging activity (RC50 = 10.27㎍/㎖), and the TPC and TFC also were highest in MIX (225.7 ㎎·GAE/g, and 25.18 ㎎·QE/g, respectively). Nitric oxide (NO) production in LPS-induced RAW264.7 cells was estimated and the results indicated an over 75% decrease of NO production in FF and MIX. In other assays, the highest elastase inhibitory activity was found in FW. Conclusions: These results revealed that H. rhamnoides extracts have a high potential for antioxidant, anti-inflammatory and antiwrinkle activities. H. rhamnoides products are suggested to be applied as the functional materials of cosmetic ingredients.

Background: Mahonia Nepalensis DC. (Hoang lien o ro), the specie of the family Berberidaceae, is widely distributed in the high mountainous areas at altitudes 1700 – 1900 m of Vietnam. It is found that the stem of Mahonia nepalensis indicated anti-inflammatory, anti-bacterial and antifungal activities and they are used particularly for the treatment of eczema, psoriasis, and other skin conditions. However, no study on the antioxidant and anti-cancer activities of Mahonia Nepalensis stem has been previously reported. The aim of this study was to evaluate anti-oxidant and anti-cancer activities of Mahonia Nepalensis stem. Methods and Results: The stem pieces of Mahonia Nepalensis were dried and extracted three times with 100% methanol. After that, the extract was suspended in distilled water and then partitioned with n-hexane, ethyl-acetate (EtOAc) and butanol (water saturated BuOH) fractions were then evaporated using a vacuum rotary evaporator. Evaluation of the anti-oxidative activity of Mahonia Nepalensis was carried out using a DPPH (2,2-diphenyl-1-picrylhydrazyl) radical-producing system. The results revealed that the ethyl acetate fraction of M. nepalensis possessed higher potential DPPH radical scavenging activity (IC50, 81.88 ± 1.33㎍/㎖) than other fractions as well as BHT (2,6-Di-tert-Butyl-4-methylphenol) (IC50, 250.49 ± 1.60㎍/㎖). The reducing power assay was also investigated and EtOAc fraction showed higher absorbance values than other fractions. At 1.0 mg/ml concentration, EtOAc fraction showed absorbance of 1.72, be higher than Ascorbic acid. Cell viability was evaluated according to the MTT (3-(4,5-Dimethylthiazol-2-yl)-2,5-Diphenyl tetrazolium Bromide) assay. By MTT assay, all fractions showed a significant reduction in cell viability on COLO 205 (Human colon carcinoma cell) at the highest concentration tested (200㎍/ ㎖) with over 70% decrease in cell viability was obtained, and the highest significantly inhibiting effect occurred in butanol fraction with approximately 90% reduction in cell viability. Conclusion: We demonstrated that Mahonia Nepalensis stem extract has highly potential in anti-cancer activity. Further studies are necessary in order to explore the variety of Mahonia Nepalensis stem to be applied as a valuable natural material.