bluuebunny/crossref_metadata_2025 huggingface dataset:
Probiotic Lactobacillus Strains. The Future Biological Missiles to Treat Autism Spectrum Disorder: A Short Communication
Authors: K. Poornachandra Rao , Sreenivasa M.Y.
Published: January 2017

Autism is characterized by communication impairments, neurobehavioral, social abnormalities
and immunological and metabolic dysfunction. Among these, gastrointestinal abnormalities
are of clinical importance associated with the autistic individuals. Gastrointestinal abnormalities can
affect the neuropathological and behavioral features and contribute to pathogenesis of autistic symptoms.
Now a spate of new studies supports this notion and suggests that restoring proper microbial
balance could alleviate some of the disorder's behavioral symptoms. Evidence is mounting that some
of the beneficial intestinal microbiome called probiotics favors the individuals with autism supporting
the gut-brain barrier. These probiotics may provide therapeutic strategies for neurodevelopmental
disorders. Therapies that target the gut microbiome may hold the key for making progress against a
wide range of notoriously difficult psychiatric illnesses. Thus, a probiotic supplementation early in
life may reduce the risk of neuropsychiatric disorder development later in childhood possible by
mechanisms not limited to gut microbiota composition.
Effect of Post-Harvest Radiation Processing and Storage on Volatile Profile of Minimally Processed Ready-to-Cook (RTC) Cauliflower
Authors: Vaishnav Jasraj , Tripathi Jyoti , Gupta Sumit , Variyar Prasad S.
Published: January 2017

Background: Cauliflower is an important vegetable in human diet as it is associated with
various health benefits. Main quality loss of cauliflower is due to the poor post-harvest practices.
Radiation processing is gaining popularity now a days as one of the promising alternative to address
quality retention of product. Since aroma quality of vegetable is crucial for its consumer acceptance
therefore study of changes in volatile compounds of vegetables due to post harvest processing is required.

Objective: The aim of present study was to investigate the effect of radiation processing (0.5 - 2
kGy) and storage (4 °C for 21 days) on the volatile constituents of minimally processed cauliflower.

Method: Head Space Solid Phase Microextraction (HS-SPME) was used for aroma extraction from
cauliflower and subsequent analysed by GC-MS. Principal Component Analysis (PCA) was used for
data analysis. Cauliflower samples irradiated with different doses were also subjected to sensory
evaluation along with non-irradiated control samples.

Results: Data analysis using principal component analysis suggested significant differences both due
to irradiation and storage. A 2.37, 1.96, 2.78 and 2.48 fold increase in the content of odour active
compounds such as Dimethyl Disulphide (DMDS), Dimethyl Trisulfide (DMTS), dimethyl tetrasulfide,
and Methanethiol (MT) respectively, immediately after irradiation was noted at 1 kGy. Sensory
analysis of aroma quality supported the acceptance of radiation processing for cauliflower.

Conclusion: PCA analysis suggested significant differences in volatile profile both due to radiation
processing and storage, however radiation processing was not found to affect sensory acceptability of
the product.
Hypoxic Pulmonary Vasoconstriction in Humans: Tale or Myth
Authors: Hussain A. , Suleiman M.S. , George S.J. , Loubani M. , Morice A.
Published: January 2017

Hypoxic Pulmonary vasoconstriction (HPV) describes the physiological adaptive process of lungs to preserves systemic oxygenation. It has clinical implications in the development of pulmonary hypertension which impacts on outcomes of patients undergoing cardiothoracic surgery. This review examines both acute and chronic hypoxic vasoconstriction focusing on the distinct clinical implications and highlights the role of calcium and mitochondria in acuteversusthe role of reactive oxygen species and Rho GTPases in chronic HPV. Furthermore it identifies gaps of knowledge and need for further research in humans to clearly define this phenomenon and the underlying mechanism.
Detection of Allelic and Genotypic Frequencies of Polymorphisms Associated with Meat Quality in the Mediterranean Baladi Cattle
Authors: Shor-Shimoni Einav , Shabtay Ariel , Agmon Rotem , Cohen-Zinder Miri
Published: January 2017

Baladi, (B taurus; DAGRIS) a native cattle breed found throughout the entire Southern Mediterranean basin, is known for its high disease resistance and hardiness. Baladi cows in Israel and Southern Mediterranean basin are endangered due to the introduction of larger and more productive European breeds in these regions. In order to promote conservation initiatives of Baladi by stakeholders, the yet unexplored production traits, over their well accepted adaptation to the harsh Mediterranean conditions, were sought in the current study. Aiming at locating the genetic potential of Baladi for meat quality, the allelic and genotypic frequencies of four polymorphisms in CAST, CAPN1, DGAT1, and FASN genes, previously reported to be associated with meat quality traits, were compared to four cattle breeds. The other four breeds included Limousine, Holstein, Simmental and Brahman cattle, which represent beef, dairy, dual-purpose and indicine bovine members, respectively. Relative to the four bovine members, Baladi cattle exhibited high frequencies of the increasing alleles and genotypes in all four SNPs associated with meat tenderness or fat deposition. These findings, along with future phenotyping and genomic profiling of meat quality related markers, and the well-established adaptability to the challenging Mediterranean pasture conditions, may promote conservation initiatives of Baladi cattle by stakeholders.
KETAHANAN PANGAN RUMAH TANGGA TANI PERKOTAAN DAN PERDESAAAN KABUPATEN GUNUNGKIDUL
Authors: Widyanitha Dyah Ayu , Hardyastuti Suhatmini , Mulyo Jangkung Handoyo
Published: January 2017

This research is conducted (1) to analyze share offarm householdfood expenditure/or the urban and rural,(2) to analyze the level of urban and rural energy farm household, (3) to analyze the level of household food securityurban and rural farm, (4) to analyze desirable dietary pattern of urban and rural farm household, (5) to understand influencingfactor of score food security farm household. The primary method for this research use descriptive analysis,sampling is done by using simple random method with 25 urban and 25 rural farm household in Gun ungkidu I. The data was analyzed by independent sample t-test and multiplier regression analysis by Ordinary Least Square (OLS).The results showed that (1) the share offarm household food expenditure in urban areas is lower than the share of food expenditure offarm households in rural areas, (2) the adequacy offarm household energy in rural areas is higherthan the farm households in urban area, (3) urban households food secure 20%, vulnerable food 40%, less food 12%, food insecurity 28%, yet rural household food secure 16%, vulnerable food 48%, less food 4%, food insecurity 32%,(4) food pattern expectations farm households in urban areas are not higher than the expectation of food patterns in rural areas, (5) factors that positively affect the food security of farm households are farm household income andlocation (urban and rural).
ANALISIS INDUSTRI RUMAH TANGGA GULA SEMUT UNTUK EKSPOR DI KABUPATEN KULON PROGO DAN PURWOREJO
Authors: Prihtanto Fransisca Nugraheni Putri , Irham Irham , Suryantini Any
Published: January 2017

This study aims to: 1) measure the feasibility of granular brown sugar household industry for export in Kulon Progo and Purworejo districts, 2) determine the value added of the granular brown sugar, 3) determine differences in income, profits, and value added of both industries, 4) determine the factors that affect value added of granular brown sugar, ·5) analyze the sensitivity of the breakeven point with input, output, and exchange rate. The results indicatesthat the granular brown sugar household industries are feasible to develop and provide benefits for business owners. However the household industry of granular brown sugar in Kulon Progo made of brown sugar based on 1C/C ratioshow that the industry is not feasible to develop. The study also shows that the value added of the granular brown sugar made of brown sugar and that made of coconut sap in Kulon Progo are Rp 1.427 and Rp 793. While, the valueadded of granular brown sugar in Purworejo is Rp 644. The results of one way ANOVA show that there is no income or profits difference among respondents groups of the granular brown sugar household industry, but there is a differenceof value added among respondents groups of the granular brown sugar household industry. Factors that significantly influence the value added are: the production capacity, the output price, and the amount of labor. Household industry of granular brown sugar in the third group of business are very sensitive to input and output price reductions and decline in the exchange rate up to 30% still give the profit to the exporter.
Gobierno y gestión de los servicios del agua en seis ciudades fronterizas, México-Estados Unidos
Authors: González Ávila María Eugenia , Arzaluz Solano Socorro
Published: January 2017

Académicos de El Colegio de la Frontera Norte, de la región noreste de México, sintetizan y reflexionan sobre algunos hallazgos de la investigación sobre la gestión de los servicios de agua en tres ciudades de la frontera norte de México y sus contrapartes estadounidenses. En su análisis observaron dos ejes principales: político y medioambiental. Los investigadores indagaron sobre la gestión de los organismos operadores de agua, con el objetivo de comparar y analizar las formas de gestión local del servicio público de agua potable en las seis ciudades, y hallar las mejores prácticas de gestión, para darlas a conocer como experiencias de gobierno. Aquí se exponen los hallazgos, con énfasis en el proceso de tratamiento de calidad del agua y capacidad técnica del personal, para la parte binacional se consideró el método comparativo.
Towards developing guiding principles for managing operational risk appetite
Authors: Young Jacobus
Published: January 2017

Within the context of operational risk management, the understanding of the term operational risk appetite is still vague and not fully implemented by organisations to take advantage of the potential benefits thereof. This study analyses various definitions which serve as a platform for formulating guiding principles in order to manage operational risk appetite. To confirm the applicability and importance of these guidelines they were empirically tested in the banking industry in South Africa. The research indicates that the proposed guiding principles for managing operational risk are valid and that their adoption could lead to potential benefits for a banking organisation. While it is recommended that banks adopt these principles to experience the advantages of managing its operational risk appetite, other corporate organisations may also encounter similar benefits.
The determinants of new capitalizations of R&D expenses in Canada
Authors: Batrinu Florica-Nicoleta , Rakoto Philémon
Published: January 2017

Under certain conditions, Canadian and international accounting standards allow firms to present R&D costs in their balance sheets (capitalization). This article analyzes the determinants of new capitalizations of R&D costs by focusing on positive accounting theory and the influence of the CEO. Based on a sample of 440 observations of Canadian firms between the years 2000 and 2003, the results show that the size, debt load, presence of a CEO who holds an important but not majority block of shares, and CEO’s years of seniority all influence the decision to present new capitalizations of R&D costs. The presence on the board of an important stockholder other than the CEO attenuates the influence of the CEO.
Audit quality: Do the audit committee and internal audit arrangements matters?
Authors: Mat Zain Mazlina , Wahab Effiezal Aswadi Abdul , Foo Yee Boon
Published: January 2017

This study examines the impact of corporate governance mechanisms namely audit committee characteristics, internal audit arrangements, and managerial ownership on external audit fees. Using a sample of 539 firms listed on the main board, the results of the study document a positive relationship between audit committee independence and audit fees. Consistent with the capital reputational theory, the result suggests that independent audit committee demand for higher quality audit in order to protect their capital reputation as an expert. Contrary to our prediction, this study documents a negative relationship between audit committee expertise and audit fees indicating that auditors perceived firms with more audit committee members that possess accounting and finance expertise to be less risky and thus charged less audit fees to these firms. Furthermore, findings indicate that firms with their own internal audit function pay higher audit fees in comparison to those firms that outsourced their internal audit activities. Consistent with agency theory, the result suggests that the demand for audit services would be lower for firms whose managers own higher percentage of shares due to lower agency cost as compared to those firms with higher outsiders‟ ownership.
Why do family firms congregate in certain industries?
Authors: Chen En-Te , Nowland John
Published: January 2017

We propose that family firm involvement and performance across industries is not random and is related to specific industry conditions. Using the population of listed companies on the Taiwan Stock Exchange over the period 1997-2007 we find that family firms are more involved in industries with greater fixed assets and lower board independence. We document a positive relationship between family firm involvement and performance, which indicates a net advantage for family firm shareholders in industries where family firms congregate. However, we also find that family firm performance is negatively affected when family firms use more debt and maintain a higher control wedge than their industry counterparts.
Managerial ownership and firm performance in Thailand: An empirical analysis
Authors: Singhchawla Wanachan , Evans Robert , Evans John
Published: January 2017

This study investigates whether managerial share ownership serves to enhance or detract from firm performance in listed companies in Thailand. The convergence-of-interest hypothesis asserts that firm value increases as management ownership rises. On the other hand, when managers own a substantial fraction of the firm shares, then voting power or other influence may satisfy other non-value- maximizing objectives without endangering other positions. This gives rise to the entrenchment hypothesis, which suggests that excessive insider ownership has a negative impact on corporate performance. The results of this study support both the alignment and entrenchment efforts and therefore the existence of a non-linear relationship between firm performance and managerial ownership. Firm size and industry are also shown to impact significantly on firm performance in Thailand.
Key success factors for business operations in emerging markets: Qualitative results from Sub-Saharan Africa
Authors: Neuland Ernst , Hough Johan
Published: January 2017

As the world economy is emerging from the global financial crisis, it is generally expected that economic recovery will be slow, with emerging economies, including those of sub-Saharan Africa (SSA), expected to be the leading economic performers for some time to come. As economic prospects improve and global competitiveness intensifies, multinational companies (MNCs) will increasingly explore these opportunities that emerging markets offer, despite the higher inherent risks associated with the attractive profit potential that these markets offer compared to developed country markets. More specifically, the focus of MNCs in recent times has shifted to capturing a share of the market at the bottom of the economic pyramid (BOP) in emerging markets, estimated to be in excess of 4 billion people worldwide who are poor and underserved by the private sector, which includes MNCs. However, many MNCs have approached emerging and especially BOP markets within these markets based on flawed analyses, inappropriate strategies, and with existing portfolios of products and services developed and priced for Western markets which are often out of reach of both existing and potential customers in BOP markets. Based on qualitative research using a multiple case study approach, the purpose of this article is to identify strategic and operational key success factors for MNCs operating successfully in selected SSA country markets.
An empirical investigation of hybrid corporate governance systems in large firms: Evidence from India
Authors: Thyil Vijaya , Young Suzanne
Published: January 2017

The heightened pace of corporate governance reforms has focussed attention on country-specific governance models. Considerable debate has ensured as to whether the outsider Anglo-Saxon system or the insider Continental system is most applicable to India. This paper reports the results of a study of Indian governance which used a primary qualitative approach of twelve interviews of key executives of five large firms in 2008 as well as publicly available documents. A literature review establishes six key characteristics that distinguish the two major systems. The governance characteristics of the Indian firms are classified in terms of the two systems with a view to assessing the extent and nature of hybridization. The findings endorse the hybrid corporate governance system of India, clearly identifying similarities and differences to the two major governance models. In drawing on rich interview data, the paper delves into the national characteristics of India that have influenced the hybrid model such as stewardship, corporate social responsibility and partnerships between the corporate and community sectors. The evolution of the governance practices and the rationale for their existence are also examined. The paper demonstrates that the hybrid governance system has emanated from country-specific culture including values and ideologies, and political orientation of socialism. The scope of this study was limited to large listed companies and business groups. Future research should use a larger and more diverse sample including private and unaffiliated firms for outcomes that can be generalized
Logistics management aspects of planning, implementing and controlling commercial petroleum pipeline operations
Authors: Pienaar Wessel
Published: January 2017

The purpose of the article is to identify, assess and describe the logistics aspects of the commercial operation of petroleum pipelines. A synthesis is provided of the nature of 11 logistics activities of petroleum pipeline operations. The relative modal service performance of pipeline transport, based on six measures of effectiveness, is also provided. The article identifies the segments in the petroleum-products supply chain where pipelines can play an efficient and effective role
Is there a definable relationship between the gender and knowledge of the South African consumer in the selection of grocery products
Authors: Cant Michael Colin , van Scheers Louise
Published: January 2017

The knowledge that consumers have of products and services as well as other factors serves as an indicator as to which product or store to “pick”. The products and store location add to the ease with which consumers are able to cherry pick. This article has its focal point the South African customer and the motives for cherry picking and to establish if there is a relationship between price knowledge, consumer knowledge and gender. To some extend it was expected that females would be more knowledgeable about prices of grocery products and this was indeed the case. These same consumers are also well informed about promotions on grocery products. The conducted research concludes that gender has an influence on the knowledge that the South African consumers have on product prices, the types of stores and product assortment. The results also shows that the South African consumers is able to confidently cherry pick over more than one day due to their increased knowledge of prices offered on different products at different stores. This wider level of knowledge results in them being able to participate in cherry picking more readily than a consumer who has more limited price knowledge. The research findings also clearly indicate that there is a significant relationship between price knowledge, consumer knowledge and gender
Contractual and relational family firm governance: Substitution or complementarity?
Authors: Bodolica Virginia , Spraggon Martin
Published: January 2017

In this paper we argue that substantial weaknesses in corporate governance structures may be responsible for the pervasive failure of family firms to survive into the next generation. Aiming to improve extant knowledge on governance of family-owned enterprises that might boost their prosperity and longevity, we advance an integrative conceptual model which builds on boundary theory premises and accounts for the interdependencies among multiple governance arrangements. In particular, we suggest that the choice of an optimal governance configuration is dependent upon the way family firms manage the boundaries between their family and business identities. By combining contractual and relational devices of family firm governance into a single study, our model seeks to contribute to the ongoing debate in the literature regarding the existence of substitution effects and complementarity between alternative governance mechanisms.
Motivating factors in the adoption of better corporate governance practices by Brazilian companies
Authors: de Oliveira Oderlene Vieira , Aragão Lindenberg Araújo , Ponte Vera Maria Rodrigues , Oliveira Marcelle Colares , de Sena Augusto Marcos Carvalho
Published: January 2017

The present research aims to identify the main motivating factors leading to the adoption of better Corporate Governance practices by Brazilian companies. A set of questionnaires was applied to the members of the APIMEC. Descriptive statistics, probability distributions and hypothesis test were used as analytical techniques. Evidenced showed that among the motivating factors literature depicts as relevant, investigated analysts considered to be the most important the following: professionalization of the company; transparency and relationship with the capital market; perpetuation of the company; addition of value to shareholders; valuation of the company shares; improvement of institutional image; increase of liquidity of company shares; recovery of investors’ trust; capital opening; reduction of cost of capital; and improvements in decision-making processes.
Working capital management and corporate profitability of listed companies in South Africa
Authors: Ngwenya Sam
Published: January 2017

Working capital management plays a significant role in creating value for shareholders. The objective of this study was to investigate the relationship between working capital management and profitability of companies listed on the Johannesburg Stock Exchange for the period 1998 to 2008. The results revealed a statistically negative significant relationship between profitability (as measured through gross operating profit), the cash conversion cycle, the net trade cycle and number of days accounts receivable. The results further revealed a positive significant relationship between the number of days accounts payable, the number of days inventory and gross operating profit. The results suggest that managers can increase their companies’ profitability by effectively managing the cash conversion cycle and/or the net trade cycle.
Online disclosure: An analysis of the Egyptian listed companies
Authors: Elsayed Amr , Elbeltagi Ibrahim , El-Masry Ahmed
Published: January 2017

The internet becomes a very useful information disclosure tool in the recent years. Many corporations begin to disseminate their information on their websites to support the different needs of their stakeholders. Internet financial reporting has unique characteristics. These include, the ability to disseminate the information to wide audience on more timely basis and using different types of information format such as (hypertext, multiple file format (PDF, HTML) and using multimedia). As the internet financial reporting practices are voluntary, many companies can improve their disclosure with both the content and presentation of the disclosed information. Consequently, many studies in developed countries have argued the potential effect of using the internet in disclosing the information and the determinants of disseminating the information on the companies’ websites. The study extends the scope of the previous Egyptian studies by examining the entire Egyptian listed companies (435) in December 2007, investigating the disclosure of corporate governance information in detail, investigating the social disclosure information on the website and checking the timeliness of the disclosed information. The results reveal that 225 companies (51.7%) of the sampled companies have website and among these companies (98.7%) disclosed social information, (91.1%) disclosed corporate governance information, (48%) disclosed timeliness information and (35.6%) disclosed financial information.
The corporate governance of financial-stock management: Utility function, motivation and management culture
Authors: Trequattrini Raffaele , Lombardi Rosa , Nappo Fabio
Published: January 2017

With the rise of managerial capitalism, the utility function of managers has undergone some changes compared to that theorized by the economic doctrine and detectable in profit maximization. Later theories, such as those of Marris, Baumol, Williamson, linked to the development of managerial capitalism have emphasized that the management function is polymorphous and multi-oriented and the goals of top management are not always aligned with those of the owners. In recent years, the claim of the equity-management has allowed not only the return of shareholders in corporate governance, but also the affirmation of maximizing the market value of company shares as a new target of managers. In this view, the interests of managers are converging with those of the owner-investors; the capital and the maximization of profit are the centre of attention and value of company shares in a short period. This gives rise to a degenerative phenomenon of the entrepreneurial paradigm represented by irresponsible operations in finance exclusively linked to short-term and not to the values and expectations of corporate stakeholders. The action of the managers, according to the principal-agent theory generates a strong conflict in relationships with stakeholder groups that are rarely considered in spite of the maximization of the interests of shareholders. This contribution, in light of the above considerations, aims to analyze the utility function of managers in the modern capitalist system, in order to identify a theoretical reference model based on alternative motivations with respect to the source of the social phenomenon of irresponsibility or forms of insincere social responsibility that mask the real objective of maximizing profit. The analysis within large corporations, starting with the conceptualization of the principal-agent theory can be used to analyze not only the theoretical model of reference for the corporate governance, but also to understand which factors have led to inefficiency and which are the ones that represent the indispensable basis. We conclude by saying that the managerial utility function should not disregard from the strategy of sincere social responsibility, from the perspective of evaluating business strategies of medium- long term, from the achievement of a congruous profit and from the satisfaction of corporate stakeholders needs in different levels.
Determinants of capital structure: A South African study
Authors: de Vries Annalien , Erasmus Pierre D.
Published: January 2017

The effect of firm characteristics and economic factors on capital structures have been researched in many countries. Various South African studies have been conducted on this topic; however, limited research was found where both firm characteristics and economic factors were included in the same study. The majority of previous South African studies were also conducted prior to the demise of apartheid in 1994. This paper, therefore, focuses on the post-apartheid period from 1995 to 2008 and investigates the effect of firm characteristics and economic factors on the capital structure of listed industrial firms in South Africa. Empirical results indicate that these factors do affect capital structure and that asset structure and size are the two most dominant determinants.
Investing into the abyss: The continued misclassification of multi-sector managed funds
Authors: Watson John R. , Allen N. , Phoon Kok Fai , Wickramanayake Jayasinghe
Published: January 2017

The objective of this paper is to assess whether Australian multi-sector managed funds are misclassified, and then, having found this to be the case, determine if this misclassification has any impact on fund performance. We adopt a strong form of returns based style analysis to investigate a monthly sample of Australian multi-sector funds over the five-year sample period 2003:04-2008:03. The evidence provided demonstrates that insufficient attention has been paid as to whether fund managers are able to keep within their tactical asset allocation ranges and presents that misclassification exist for Australian multi-sector managed funds but that the effect on fund performance is not significant. The paper adds to the literature by demonstrating that no association exists between misclassification and fund performance.
The capital structure practices of listed firms in South Africa
Authors: Kasozi Jason , Ngwenya Sam
Published: January 2017

This study investigates whether financial theory is aligned with financial practice by testing two conventionally recognised theories of capital structure choice, the trade-off theory and the pecking-order theory against the financing practices of listed firms on the Johannesburg Stock Exchange (JSE) during the period 1995-2005. Data were obtained from the McGregor database. The results indicated a unique, but significantly positive, correlation between debt financing and financial distress, and a significant negative correlation between debt financing and the collateral value of assets. These findings suggest that financial theory is not aligned with practice on firms listed on the JSE. This study attempts to contribute to efforts to align financial theory with practice, and to help future researchers advance or modify current theories.
Governance, board diversity and firm value: The case of the Italian publicly listed firms
Authors: Bronzetti Giovanni , Mazzotta Romilda , Sicoli Graziella
Published: January 2017

This paper investigates the relations firm on board diversity and firm value on a sample of Italian Publicly listed firm. Specifically, we look at the composition of boards (as defined board size, Majority of independent directors, leadership structure) and at his diversity (defined as the percentage of women and directors of other, average age of the board, other board’s member appointment). We provide evidence that board diversity positively affect performance.
Family generation, leadership, and performance: The role of outside directors in Indian family firms
Authors: Johl Shireenjit , Jackling Beverley , Joshi Mahesh
Published: January 2017

This paper addresses the presence of outside directors in family firms in India examining the generation of the firm and years of operation. Aspects of corporate leadership such as family member as CEO, as well as the CEO’s role in a founding family firm, are considered in relation to financial performance. The findings show that outside directors do not significantly increase firm performance of family firms demonstrating their ineffective monitoring role. Contrary to studies from developed economies, more established family businesses in India outperform founding firms. Overall the study demonstrates that corporate governance issues related to Indian family firms differ from the findings from more developed economies. This finding has implications for further governance reforms in emerging economies.
Exit market liquidity and venture capitalists’ investment behaviour: Evidence from Australia, Canada and the United Kingdom
Authors: Perera Shrimal , Bertsch Tabita , Wickremanayake Jayasinghe
Published: January 2017

This study investigates the effect of exit market liquidity on venture capitalists’ (VCs’) investment behaviour. The sample consists of 4,758 investment rounds disbursed by venture capital funds in three selected common law-based OECD countries (Australia, Canada and the United Kingdom) during 1990-2005. The results indicate that investments in early-stage projects by VCs are not related to exit market liquidity conditions after controlling for exogenous factors. Empirical results, however, show that exit market liquidity is positively associated with VCs’ investments in new projects (as opposed to follow-on projects). Put differently, new firms (including start-ups) are more likely to obtain venture capital funding during times of liquid exit market conditions. Arguably, these findings highlight the importance of ‘timing’ of new project launch
Wealth effects of business takeover announcements: The case of Australian acquirers’ shareholders
Authors: Perera Shrimal , Wickramanayake Jayasinghe , Mehta Ankit
Published: January 2017

Australia has accounted for over 51 percent of mergers and acquisitions in the Asia Pacific region (excluding Japan) during 2004-2006. This paper investigates the short-horizon and long-horizon wealth effects experienced by shareholders of Australian acquirers following these domestic and cross-border business takeover announcements. The sample consists of 197 announcements. Results for domestic acquisitions suggest that acquirers’ shareholders endure abnormal returns in the range of -1.07% and -1.86% per day in the short-horizon. The long-horizon wealth effects, however, were found to be inconclusive. Results for cross-border acquisitions show that acquirers’ shareholders endure abnormal returns in the range of 1.02% and 1.26% per day in the short-horizon. This positive wealth effect, however, dissipates in the long-horizon.
Corporate governance in Italian listed companies and compliance to best practices: An empirical research
Authors: Romano Giulia
Published: January 2017

This study aims to: (1) monitor the evolution of corporate governance practices in Italian listed companies; (2) evaluate the formal and substantial compliance to the Corporate Governance Code; (3) define if listing segment/market (and consequently also capitalization) is significantly related with the adoption of best practices. The research arose from the analysis of data contained in an unpublished source of information made available by the public authority responsible for regulating the Italian securities market. We find that nearly every listed company adopts the Code and its most important best practices. However, we find some contradictory discrepancies. We also find that the adoption of the Code is significantly related to listing segment/market.
Prevalence and comorbidity of asthma, allergic rhinitis and eczema among school children in Republic of Srpska: A cross-sectional study
Authors: Domuz Sanela , Domuz Adrijana , Petrovic Slobodanka
Published: January 2017

Introduction/Objective. The incidence of comorbidity of asthma and allergic rhinitis was one of the reasons for changing guidelines for the treatment of asthma and allergic rhinitis. The World Health Organization and Allergic Rhinitis and its Impact on Asthma group proposed the new diagnostic and therapeutic concept ??one airway, one disease.? Further, the presence of allergic rhinitis in children with asthma contributes significantly to low control of asthma; also, the treatment of allergic rhinitis in children with asthma has positive effects in terms of reducing the severity of asthma symptoms. The aim of this study was to determine the prevalence of allergic diseases among children in the Republic of Srpska, as well as to determine whether allergic rhinitis and eczema are more common in children with asthma. Methods. Our study was conducted as a cross-sectional study and included 3,000 children aged six to 15 years from 13 primary schools in the Republic of Srpska. The final data processing included 1,975 correctly completed questionnaires. Results. The prevalence of wheezing in the previous 12 months was 7.9%, of allergic rhinitis 12.7%, and of eczema 5%. Asthma was diagnosed by a doctor in 3.5% of the children, allergic rhinitis in 19.2%, and eczema was diagnosed in 14.5% of the children. Conclusion. Children with asthma had statistically significant higher prevalence of other alergic diseases compared to general population. Also, children with mild asthma had statistically significant risk to be undiagnosed. Undiagnosed asthma in comorbidity with other allergic diseases leads to poor asthma control in children.
Physical activity and bone turnover in women with osteopenia
Authors: Peric Dusan , Kovacev-Zavisic Branka , Medjedovic Bojan , Romanov Romana , Ahmetovic Zlatko , Novakovic-Paro Jovanka , Dimitric Mirjana
Published: January 2017

Background/Aim. Osteoporosis is a systemic disease of the skeleton characterized by a decrease in bone mass and changes in the bone structure. An increased tendency of the bone tissue for fractures occurs as a consequence of these changes. The initial phase of physiological aging of the bones that gradually leads to osteoporosis is osteopenia. This paper tracks the effects of a specific kind of physical exercise program in women with osteopenia. The aim was to quantify the impact of this program on: the concentration of bone metabolism blood markers, muscle strength, aerobic capacity, and physical dimensions. Methods. The sample consisted of 26 women in postmenopause (age 46?58) divided into two groups ? experimental group (n = 15) and control group (n = 11). A combined program of exercise consisting of aerobic activities and strength training was applied in the experimental group, while the control group did not join in the exercise program. The program lasted for 7 weeks, three times a week with a break day between the trainings. The intensity of the aerobic training was in the span of 60% to 70% of heart rate reserve (HRR), and the intensity of the strength training was in the span of 60% to 85% of one repetitive maximum (1RM). Osteopenia was diagnosed prior to the experiment by applying a dual energy X-ray absorptiometry of the lumbar spine and the hip. The following was measured before and after the experiment: the level of biochemical markers in the serum [Beta-aspartic acid ?-cross laps (CTx), total procollagen type 1 N-terminal peptide (tP1NP) and bone isoenzyme of alkaline phosphatase (ALP), 1RM of leg extensors, maximum oxygen consumption (VO2 max), bodily height and mass, and a calculated Body Mass Index (BMI). Results. Significant changes were determined only in the experimental group. During the experimental period, there was a significant increase of muscle strength and VO2 max, with a decrease of Beta-CTx concentration. No statistically significant changes were recorded in the control group. Conclusion. A 7- week period of systematic exercise showed to be sufficient to increase muscle strength and VO2 max, partially also to decrease bone resorption, but insufficient to alter bone volume, bodily mass, and BMI.
Secondary lymphedema of the arm, the perception of the disease, self-efficacy and depression as determinants of quality of life in patients with breast cancer
Authors: Popovic-Petrovic Svetlana , Kovac Aleksandra , Kovac Natasa , Tovilovic Snezana , Novakov Ivana , Culibrk Dragan
Published: January 2017

Background/Aim. Secondary lymphedema of the arm is one of possible side-effects and complications of breast cancer and its treatment which can contribute and precipitate to a number of new psychosocial problems. The aim of this study was to examine the differences in quality of life of patients suffering from breast cancer, with arm lymphedema and those without lymphedema, and to determine the significance of the perception of the disease, depressive symptoms and self-efficacy contribution to overall quality of life. Methods. The research was designed as a cross-sectional study, which included 64 patients ? 34 with arm lymphedema and 30 without lymphedema. Questionnaire FACT-B + 4 was applied to assess the quality of life, BIPQ for the perception of the disease, depression was measured by DASS-21 scale, while self-efficacy was tested by SGSE scale. T-test, Mann Whitney U Test, ?2 test and hierarchical regression analysis were applied to data processing. Results. There was not any significant difference between the groups in the total score of quality of life (t = 0.469, p > 0.05), or in the individual subscales: physical well-being (t = 0.535, p > 0.05), social/family well-being (t = 1.43, p > 0.05), emotional well-being (t = 1.35, p > 0.05), functional well-being (z = -0.243, p > 0.05), breast cancer scale (t = -0.839, p > 0.05) and arm scale (t = -0.514, p >0.05), while the perception of the disease (? = -0.603, t = -5.958, p < 0.001) and depression (? = -0.411, t = - 4.101, p < 0.001) proved to be significant predictors of quality of life and explain 50.2% variance of overall quality of life. Conclusion. The results of our study indicate the importance of a comprehensive rehabilitation program, directed both at functional and psychosocial aspects.
Effects of extremely low frequency pulsed electromagnetic field added to kinesitherapy procedure on quality of life in patients with end stage renal disease on dialysis
Authors: Rakocevic-Hrnjak Aleksandra , Vuksanovic Miljanka , Dimkovic Nada , Djurovic Aleksandar , Petronijevic Natasa , Petronijevic Milan
Published: January 2017

Background/Aim. Extremely Low Frequency Pulsed Electromagnetic Magnetic Field (ELF-PEMF) has a wide range of therapeutic applications which were expanding during the last decades. ELF-PEMF, as non-invasive, longterm safe method of physical therapy can influence a variety of aspects in chronic diseases including quality of life. Patients with chronic kidney disease (CKD), especially with end stage renal disease (ESRD), treated by dialysis, have lower health-related quality of life and changed normal way of living because of ESRD-related comorbid illnesses, associated conditions and complex dialysis procedures. The objective of this study was to assess the effectiveness of longterm ELF-PEMF in concordance with exercising on quality of life in ESRD patients on dialysis. Methods. A total of 124 patients (59 men and 65 women) with ESRD on dialysis program were divided into study group and control group. Patients included in the study group (n = 54) agreed to receive treatment with ELF-PEMF (18 Hz, 2 mT, applied during 40 minutes after ten consecutive dialysis procedures, four times through one year, 120 treatments in total) together with kinesitherapy over three years. The patients in the control group (n = 70) were subjected only to kinesitherapy as a physical therapy procedure. Quality of life was assessed through the Short Form Health Survey, version 2 (SF36v2) and the Functional Assessment of Chronic Illness Therapy, version 4 (FACIT Fatigue v4) questionnaires. Results. In the study group, treatment with ELF-PEMF significantly improved FACIT Fatigue v4 scale score as well as physical health, physical functioning, bodily pain and energy/ fatigue domains of SF=36v2 scale. There were no effects on mental health domain, limitations due to physical health problems, limitations due to personal or emotional problems, emotional well-being, social functioning, and general health perceptions. In the control group, no beneficial effects on FACIT Fatigue v4 scale and SF36v2 scale item were noticed. Conclusion. ELF-PEMF could be a additional and safe strategy for improving quality of life in patients with ESRD on dialysis.
Possibilities of retrograde intrarenal surgery in the treatment of renal lower pole stones in children
Authors: Ilic Predrag , Kostic Dejan , Dzambasanovic Slobodan , Jankovic Mirjana , Kojovic Vladimir
Published: January 2017

Background/Aim. Renal stones located in the lower pole of kidney represent a serious challenge for surgical treatment in children. The options are: open surgery, extracorporeal shock-wave lithotripsy, percutaneous nephrolithotomy and retrograde intrarenal surgery. Reports about the endoscopic treatment in children are limited. The aim of the study was to evaluate the effectiveness of retrograde intrarenal surgery in pediatric patients with renal stones in lower pole of the kidney. Methods. We retrospectively analyzed the results of the retrograde intrarenal surgery in 24 patients with renal stones in lower pole, between April 2012 and April 2016. Flexible ureterorenoscopy in combination with holmium laser lithotripsy were performed. We considered stone fragment size 3 mm or less as a measure of sufficient fragmentation of the stone. Results. Mean duration of general anesthesia was 68 (range, 40?90) minutes. Duration of hospitalization was 1?3 (mean, 1.6) days. Complications were found after two (8.4%) surgical procedures: perirenal haematoma in one (4.2%) and urinoma in one (4.2%) patient. The stone was completely fragmented in 18 (75%) patients. In 3 (12.5%) patients the stone was incompletely fragmented and in 3 (12.5%) patients the stone was not fragmented. Double J stent was placed in 5 (21%) patients. Mean follow-up was 9 (range, 6?18) months. Conclusion. Retrograde intrarenal surgery in children is the least invasive, effective and safe surgical procedure for stones in lower pole of the kidney, with minimal complication rate. Unsuccessful treatment in some patients was due to loss of ureterorenoscope deflection with laser probe in working channel.
Contribution of 18-fluorodeoxyglucose positron emission tomography (FDG PET) imaging in the detection of underlying carcinoma in a woman with nonspecific mastitis
Authors: Hancerliogulları Oguz , Ince Semra , Senocak Rahman , Ilgan Seyfettin , Arslan Nuri
Published: January 2017

Introduction. Differentiation between a malignancy and inflammatory process is still a diagnostic challenge. Mammography (MG) and ultrasonography (US) have low sensitivity and specificity in dense breasts in order to detect malignancy. On the other hand, malignant mass lesions can also be masked on magnetic resonance imaging (MRI) by diffuse inflammatory process. 18-fluorodeoxyglucose positron emission tomography (FDG PET) imaging can be a promising alternative imaging method in the evaluation of suspicious breast masses, especially in patients with accompanying inflammatory breast diseases. Case report. We report an atypical case of a patient suspected for malignancy in right breast on physical examination and radiologic findings in favor of mastitis. Neither MG nor US revealed any mass lesion consistent with malignancy. Moreover, MRI findings were primarily considered as infectious or granulomatous mastitis. However, FDG PET determined the accurate borders of tumor and dissemination of breast cancer with superiority to other conventional radiological methods. Conclusion. This case report emphasizes the contribution of FDG PET imaging to other conventional radiological methods with regard to primary tumor diagnosis, determination of the biopsy site, and also staging the disease especially in patients with accompanying inflammatory breast disease.