• Journal of the Korean Society for Precision Engineering
• /
• v.15 no.7
• /
• pp.69-77
• /
• 1998

Development on the mechanical properties of steel sheet for the automobile body panel is very important in the BAF(Batch annealing furnace) annealing process. Because of the heat treatment method in the BAF, mechanical properties were decided on the heat treatment method of the coil. So, we tested on the development of mechanical properties according to heat treatment method at the annealing furnace using the In atmospheric gas($H_2$ : 75%, $N_2$ : 25%) and the HNx atmospheric gas($H_2$ : 5%, $N_2$ : 95%) We confirmed the following characteristics, mechanical properties were changed under the influence of the annealing cycle and the atmospheric gas. And, we have some result according to heat treatment method. Elongation of the mechanical properties in the HNx BAF is higher than the Ax BAF. But tensile strength and hardness is higher than the HNx BAF.

• Journal of Advanced Marine Engineering and Technology
• /
• v.18 no.1
• /
• pp.114-122
• /
• 1994

A cold temperature control system for the BAF(batch annealing furnace) has been established in order to reduce energy consumption to imrpove productivity and stabilize the properties of products. Therefore we confirmed a relation between annealing cycle time and atmospheric gas, changing annealing cycle time according to BAF temperature with time during heating and actual temperature measurements cold spot during soaking. The results of the temperature variation effect on the batch annealing are as follows. 1) Cooling rate is increasing gradually with increasing atmospheric gas flow, but heating rate is hardly increasing without atmospheric gas component. Heating time is reduced to one half with increasing atmospheric gas flow rate and changing of atmospheric gas component from HNx to Ax gas and annealing cycle time is reduce to 2.7 times. 2) With enlarging the difference between furnace temperature and soaking temperature at the HNx BAF, heating time becomes short, but cooling time is indifferent. 3) If temperature difference of 300.deg. C in the temperature change of cold spot according to the annealing cycle control temperature, Hi-CON/H2BAF is interchanging at each other at 26hours, but HNxBAF at 50 hours. 4) Soaking time at batch annealing cycle determination is made a decision by the input coil width, and soaking time for quality homogenization of 1219 mm width coil must be 2.5 hours longer then that of 914mm width coil for the same coil weight at Hi-CON/H2BAF. But, it is necessary to make 2 hours longer at HNxBAF.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.8
• /
• pp.143-150
• /
• 2020

This study aims to investigate the effect of oil price and exchange rate on the two Vietnamese stock market indices: VN index and HXN index. This study uses the daily data from August 1^st 2000 to October 25^th 2019 of the two Vietnamese stock indices: VN index and HNX index, the two oil price indices: BRENT and WTI, and the two exchange rates: US dollar to Vietnamese dong and Euro to Vietnamese dong. Due to the presence of heteroskedasticity in our data, we use GARCH (1,1) regression model to perform our analysis. Our findings show that the oil price has a significant positive effect on the two Vietnamese stock market indices. In terms of the stock index volatility, both the VN index and HNX index volatilities are negatively impacted by the return of oil price. While the conclusion about the impact of oil price remained consistent through all three robustness tests, the effect of exchange rate on Vietnamese stock market indices is not consistent. We find thatchanges of the USD/VND exchange rate significantly impact the return and volatility of HNX index only in GARCH (1,1) setting. Our analysis also survives a number of robustness tests.

• Proceedings of the Korean Society of Machine Tool Engineers Conference
• /
• 1997.10a
• /
• pp.101-107
• /
• 1997

Development on the mechanical properties of steel sheet for the automobile body panel is very important in the BAF(Batch annealing furnace) annealing process. Because of the heat treatment method in the BAF, mechanical properties was decided on the heat treatment method of the coil. So, we tested on the development of mechanical properties according to heat treatment method at the annealing furnace using the Ax atmospheric gas and the HNx atmospheric gas. As a result of several investigations. We confirmed the following characteristics ; mechanical properties was changed under the influence of the annealing cycle, the heat treatment method and the atmospheric gas. And, elongation in the HNx BAF was better than the Ax BAF. Finally, most important thing in the BAF is using proper annealing cycle in order to get a good quality.

• Journal of the Korean Society of Manufacturing Technology Engineers
• /
• v.7 no.2
• /
• pp.108-114
• /
• 1998

Development on the mechanical properties of steel sheet for the automobile body panel is very important in the BAF(Batch annealing furnace) annealing process. Because of the heat treatment method in the BAF, mechanical properties was decided on the heat treatment method of the coil. So, we tested on the development of mechanical properties according to heat treatment method at the annealing furnace using the Ax(H$_2$75%, $N_2$25%) atmospheric gas and the HNx(H$_2$4%, $N_2$96%) atmospheric gas. As a result of several investigations. We confirmed the following characteristics ; mechanical properties was changed under the influence of the annealing cycle, the heat treatment method and the atmospheric gas. And, elongation in the HNx BAF was better than the Ax BAF. Finally, most important thing in the BAF is using of proper annealing cycle in order to get a good quality.

• Transactions of the Korean Society of Mechanical Engineers
• /
• v.18 no.5
• /
• pp.1227-1234
• /
• 1994

A cold spot temperature control system for the batch annealing furnace has been established in order to reduce energy consumption which is essential to improve productivity and stabilize the properties of products. A relationship between annealing cycle time and gas flow rate is developed and also for the variation of coil cold spot temperature with time during heating, and actual temperature measurements at mid-width of each coil during soaking. The results of the temperature variation effect on the cold rolled steel sheet batch annealing are as follows. (1) Cooling rate increasing gradually with increasing atmospheric gas flow, but heating rate is hardly increasing without atmospheric gas component change. (2) In case of short time heating, the slowest heating part is the center of B coil and in case of ling time heating, the low temperature point moves from the center of coil to inside coil. (3) The outside of top coil is the highest temperature point under heating, which becomes the lowest temperature point under cooling. (4) Soaking time determination depends on the input coil width, and soaking time for quality homogenization of 1214 mm width coil must be 2 hours longer than that of 914 mm width coil.

• The Journal of Asian Finance, Economics and Business
• /
• v.6 no.4
• /
• pp.37-43
• /
• 2019

The research aims to study the relationship between export performance and stock return of Vietnamese fishery companies. To conduct this study, quarterly data was collected for period from 2010-2018 of 13 fishery companies listing in Ho Chi Minh Stock Exchange (HOSE) and Ha Noi Stock Exchange (HNX). The export performance was measured by export intensity, export growth and export market coverage. In addition, interest rate, exchange rate, GDP, firm size, profitability, and financial leverage were considered as the control variables in the research model. Panel data analysis with Generalized Least Squares model was employed to estimate the predictive regression. The findings indicated that export intensity and export growth have a significant and positive relationship with stock returns. However, export market coverage has not a significant relationship with stock return at the 0.05 level. Profitability, financial leverage, and exchange rate have a positive relationship, while interest rate and GDP have no relation to stock return at the 0.05 significance level. The findings imply that investors should consider the export intensity instead of export growth and export market coverage as selecting stock of fishery exports firms to invest; managers should increase export intensity to increase company's stock price or firm market value.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.5
• /
• pp.303-314
• /
• 2021

The higher the firm performance, the more chances enterprises can expand and develop their production, create jobs, and improve the workers' living quality. The main objective of this study was to measure the internal factors influencing the firm's performance of food and beverage (F&B) firms listed on the Hanoi Stock Exchange (HNX). Data was collected on 15 F&B firms listed on the HNX from 2015 to 2019 We use mixed research method, both qualitative and quantitative. For the quantitative research method, the supporting tool is Stata13 software. The results via Ordinary Least Squares (OLS) regression method show the impacts of internal factors with the following observed variables: the ratio of short-term debt to total liabilities (CS1) and total assets (S2) have an opposite impact (-) on ROA and ROE; debt-to-total assets ratio (CS2) has an opposite effect (-) on ROA; growth of total assets (G2) of the growth factor positively affects (+) ROA and ROE, the remaining factors do not affect ROA and ROE; and internal factors do not influence ROS. Based on the findings, some recommendations have been proposed to help the F&B firms listed on the Hanoi Stock Exchange improving their firm performance in the future.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.4
• /
• pp.699-707
• /
• 2021

The objective of this study is to examine the determinants of the liquidity of 17 commercial banks listed on the Vietnamese Stock Exchanges, HOSE, HNX and UPCoM. The study uses the quarterly audited financial statements from the first quarter of 2006 to first quarter of 2020; it includes 496 observations. Data on GDP and inflation are compiled from the International Monetary Fund and the General Statistics Office of Vietnam. Once collected, the data were organized along the line of unbalanced panel data. The results show that total asset size, return on total assets, and credit growth are positively associated with the liquidity of the listed banks; whereas the interaction between the bank size and the return on total assets has a negative impact on the liquidity of commercial banks listed on the HNX, HOSE, UPCoM. In order to maintain good liquidity, commercial banks need to focus on effective credit growth, ensure a high rate of profit over total assets, and at the same time focus on developing the scale of total assets. However, the development of the size of the total assets should be noted in the balance between the total assets and the rate of return on the total assets.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.9
• /
• pp.9-24
• /
• 2022

With a view to attracting foreign investment and growing the economy, the Vietnamese government has hastened financial reforms, including the lifting of limitations on foreign investment, which has resulted in rapidly rising foreign ownership in recent years. To study the relationship between transactions of foreign investors and transactions of domestic investors on two stock exchanges in Vietnam Ho Chi Minh City Stock Exchange (HSX) and Hanoi Stock Exchange (HNX). This study applies a secondary dataset comprising daily market trading information of 912 stocks from 18 industries listed on 2 Vietnam stock exchanges, including HSX and HNX, which includes executed price, executed volume, daily Buy Orders, and Sell Orders categorized into domestic investors' orders and foreign investors orders from 01.04.2010 to 10.04.2018. The regression results show a significantly positive relationship between foreign investors' trading and domestic investors' transaction in all trading activities in both up and down markets. Therefore, these results indicate that domestic investors in Vietnam are concerned with foreign investors' trading as an important sign, and domestic investors tend to follow their counterparties without appropriate fundamental information. From there, there are signs of herding behavior of domestic investors following foreign investors in transactions on the stock market in Vietnam.