bluuebunny/crossref_metadata_2025 huggingface dataset:
Clinical advantages of computer‐guided implant placement: a systematic review
Authors: Hultin Margareta , Svensson Krister G. , Trulsson Mats
Published: October 2012

Objectives

To systematically scrutinize the current scientific literature regarding the clinical advantages of computer guidance of implant placement.

Materials and methods

Four electronic databases were searched using specified indexing terms. The reference lists of publications were also searched manually. For inclusion, publications had to meet pre‐established criteria.

Results

The searches yielded 1028 titles and abstracts. After data extraction and interpretation, 28 publications and 2 systematic reviews remained for inclusion. Fifteen studies were prospective observational and four were retrospective observational. Nine studies included a control group (controlled clinical trials) of which seven were prospective and two retrospective. Only three of the prospective studies were randomized (RCT's). A total of 852 patients were treated with 4032 implants using computer‐guided implant surgery. The number of patients included in each study ranged from 6 to 206. The age ranged from 16 to 92 years and the follow‐up period varied between 1 and 49 months.

Conclusions

The limited scientific evidence available suggests that guided placement has at least as good implant survival as conventional protocols. However, several unexpected procedure‐linked adverse events during guided implant placement indicate that the clinical demands on the surgeon were no less than those during conventional placement. A clinical advantage with flapless guided surgery is that the technique is likely to decrease pain and discomfort in the immediate postoperative period.
A systematic review of the survival and complication rates of implant‐supported fixed dental prostheses (FDPs) after a mean observation period of at least 5 years
Authors: Pjetursson Bjarni E. , Thoma Daniel , Jung Ronald , Zwahlen Marcel , Zembic Anja
Published: October 2012

Objectives

The objective of this systematic review was to assess the 5‐ and 10‐year survival of implant‐supported fixed dental prostheses (FDPs) and to describe the incidence of biological and technical complications.

Methods

An electronic Medline search complemented by manual searching was conducted to identify prospective and retrospective cohort studies and case series on FDPs with a mean follow‐up time of at least 5 years. Patients had to have been examined clinically at the follow‐up visit. Failure and complication rates were analyzed using standard and random‐effects Poisson regression models to obtain summary estimates of 5‐year and 10‐year survival and complication rates.

Results

The updated search provided 979 titles and 257 abstracts. Full‐text analysis was performed for 90 articles resulting in a total 32 studies that met the inclusion criteria. Meta‐analysis of these studies indicated an estimated survival of implants supporting FDPs of 95.6% after 5 years and 93.1% after 10 years. When machined surface implants were excluded from the analysis and only rough surface implants included, the survival rate increased to 97.2% after 5 years. The survival rate of implant‐supported FDPs was 95.4% after 5 years and 80.1% after 10 years of function. When the analysis was done exclusively for metal–ceramic FDPs, hence the old gold–acrylic FDPs were excluded, the survival rate increased significantly. The survival rate of metal–ceramic implant‐supported FDPs was 96.4% after 5 years and 93.9% after 10 years. Only 66.4% of the patients were free of any complications after 5 years. The most frequent complications over the 5‐year observation period were fractures of the veneering material (13.5%), peri‐implantitis and soft tissue complications (8.5%), loss of access hole restoration (5.4%), abutment or screw loosening (5.3%), and loss of retention of cemented FDPs (4.7%).

Conclusion

It may be concluded that implant‐supported fixed dental prostheses (FDPs) are a safe and predictable treatment method with high survival rates. However, biological and technical complications were frequent (33.6%). To minimize the incidence of complications, dental professionals should make great effort in choosing reliable components and materials for implant‐supported FDPs and the patients should be placed in well‐structured maintenance system after treatment.
Systematic review of the survival rate and the incidence of biological, technical, and aesthetic complications of single crowns on implants reported in longitudinal studies with a mean follow‐up of 5 years
Authors: E. Jung Ronald , Zembic Anja , Pjetursson Bjarni E. , Zwahlen Marcel , S. Thoma Daniel
Published: October 2012

Objective

To assess the 5‐year survival of implant‐supported single crowns (SCs) and to describe the incidence of biological, technical, and aesthetic complications. The focused question was: What is the survival rate of implants supporting single crowns and implant‐supported crowns with a mean follow‐up of 5 years and to which extent do biological, technical, and aesthetic complications occur?

Methods

A Medline search (2006–2011) was performed for clinical studies focusing on implant‐supported SCs with a mean follow‐up of at least 5 years. The search was complemented by an additional hand search and the inclusion of 24 studies from a previous systematic review (Jung et al. 2008a). Survival and complication rates were analyzed using random‐effects Poisson's regression models to obtain summary estimates of 5‐ and 10‐year proportions.

Results

Forty‐six studies derived from an initial search count of 1083 titles and the complementary publications from the previous systematic review (Jung et al. 2008a) were selected and the data were extracted. Based on the meta‐analysis, survival of implants supporting SCs at 5 years amounted to 97.2% (95% CI: 96.3–97.9%), and at 10 years amounted to 95.2% (95% CI: 91.8–97.2%). The survival of implant‐supported SCs was 96.3% (95% CI: 94.2–97.6%) after 5 years and 89.4% (95% CI: 82.8–93.6%) after 10 years. For biological complications, a 5‐year cumulative soft tissue complication rate of 7.1% (95% CI: 4.4–11.3%) and a cumulative complication rate for implants with bone loss >2 mm of 5.2% (95% CI: 3.1–8.6%) were calculated. Technical complications reached a cumulative incidence of 8.8% (95% CI: 5.1–15.0%) for screw‐loosening, 4.1% (95% CI: 2.2–7.5%) for loss of retention, and 3.5% (95% CI: 2.4–5.2%) for fracture of the veneering material after 5 years. The cumulative 5‐year aesthetic complication rate amounted to 7.1% (95% CI: 3.6–13.6%).

Conclusions

The outcomes of the meta‐analysis demonstrated high implant survival rates for both the single tooth implants and the respective single crowns after 5 and 10 years. However, technical, biological, and aesthetic complications were frequent.
What is the optimal number of implants for fixed reconstructions: a systematic review
Authors: Heydecke Guido , Zwahlen Marcel , Nicol Ailsa , Nisand Davide , Payer Michael , Renouard Frank , Grohmann Philipp , Mühlemann Sven , Joda Tim
Published: October 2012

Objectives

To assess the 5‐year and 10‐year survival and complication rates of implant‐supported fixed reconstructions in partially and totally edentulous patients with regard to the optimal number and distribution of dental implants.

Material and Methods

This review was designed as a systematic review of the literature. A search strategy was developed and executed using an electronic and selective hand search for English‐language articles in Dental Journals limited to human clinical trials. Search terms were grouped into categories for “problem” – “intervention” – “outcome”. For articles retrieved by this search, abstracts were screened by two reviewers based on the inclusion criteria. Selected articles were then obtained in full texts. Finally, the selection based on inclusion/exclusion criteria was repeated for the full‐text articles.

Results

Of the 210 titles retrieved by the search, 51 were selected for full‐text review based on the information given in the abstract. From the full‐text articles, a total of nine studies were included for this systematic review. In meta‐analysis, prosthetic survival rates over 5 and 10 years for partial Fixed Dental Prostheses (FDPs) on two to four implants were estimated as 98.9% (95% CI: 98.5–99.2%) and as 97.8% (95% CI: 96.9–98.4%) respectively. A survival rate for maxillary Full‐Arch Fixed Dental Prostheses (FAFDPs) on four to six implants after 5 years was assessed as 97.5% (95% CI: 94.1–98.9%) and a survival rate after 10 years as 95.0% (95% CI: 88.5–97.9%). The result for the survival rates in case of mandibular FAFDPs on four to six implants after 5 years was 97.9% (95% CI: 96.3–98.8%) and after 10 years 95.9% (95% CI: 92.8–97.7%). Specific implant‐to‐replaced‐unit‐ratios were not available in any of the studies.

Conclusion

For implant‐supported FAFDPs, using 4–6 implants is a well‐documented treatment option with high estimated 5‐year survival of the construction. It is unclear whether three implants for supporting a FAFDP will achieve similar survival rates. The RCTs needed that report implant‐to‐replaced‐units‐ratios for partial FDPs and include 3 vs. 4–6 implants for supporting a FAFDP in the mandible.
Systematic review of the survival rate and the biological, technical, and aesthetic complications of fixed dental prostheses with cantilevers on implants reported in longitudinal studies with a mean of 5 years follow‐up
Authors: Romeo E. , Storelli S.
Published: October 2012

Objective

A systematic review was carried out to evaluate the success and survival rate of implants supporting cantilever prosthesis, as well as the incidence of technical and biological complications.

Material and Methods

A MEDLINE search was conducted up to December 2011 for studies with a mean follow‐up of 5 years or more. Two independent reviewers screened the retrieved articles and extracted the data independently. Data on survival, failure, mechanical/technical and biological complications were analyzed.

Results

One‐hundred and sixty articles were selected as abstract. Only 18 underwent a full‐text analysis and only six were included in the study. The estimated cumulative survival rate of implants supporting cantilevered prosthesis was 98.9% (95% CI: 97.4–99.5%), whereas ICFDP survival was estimated to be about 97.1% (95% CI: 90.1–99.2%). Implant failures before prosthetic delivery were not considered.

Biological complications were estimated to be 5.7% (95% CI: 4.2–7.6%) at implant level after 5 years.

Technical complications were analyzed: the most common complications were veneer fractures (5‐year estimate: 10.1%; 95% CI: 3.7–16.5%) and abutment screw fractures (5‐year estimate: 1.6%; 95% CI: 0.8–3.5%). Decementation and screw loosening were estimated to be at 5 years 5.9% (95% CI: 1.7–16.8%) and 7.9% (95% CI: 3.2–18.2%), respectively. Implant fracture was rare (5‐year estimate: 0.7%; 95% CI: 0.1–4.7%); no framework fracture was reported. Radiographic bone level changes did not yield statistically significant differences. No aesthetic outcome was reported.

Conclusions

ICFDPS can be considered a reliable treatment: the systematic review assessed that there is no increase in complication rate due to the presence of the cantilever.
Computer‐guided implant therapy and soft‐ and hard‐tissue aspects. The Third EAO Consensus Conference 2012
Authors: Sicilia Alberto , Botticelli Daniele ,   Working Group 3
Published: October 2012

Introduction

The objectives of this working group were to update the existing knowledge base in computer‐guided implant treatment (accuracy and clinical advantages), to search for scientific evidence on the need for keratinized tissue around implants, and to review recent literature in the search for new insights into ridge preservation after tooth extraction.

Material and methods

The literature was systematically searched and critically reviewed. Four manuscripts were prepared, three systematic and one narrative review, that allowed the group to develop evidence‐based conclusions, as well as clinical implications and recommendations for future research.

Results

The results and conclusions of the reviews were presented in the following papers:

Van Assche et al. () Accuracy of computer‐aided implant placement.

Hultin et al. () Clinical advantages of computer‐guided implant placement: a systematic review.

Wennström & Derks () Is there a need for keratinized mucosa around implants to maintain health and tissue stability?

Wang & Lang () Ridge preservation after tooth extraction.

The group's consensus statements, clinical implications and implications for future research are presented in this article.
Surgical therapy for the control of peri‐implantitis
Authors: Renvert Stefan , Polyzois Ioannis , Claffey Noel
Published: October 2012

Material and methods

Articles on surgical treatment of peri‐implantitis in humans published up to December 2011 were included.

Results

Twenty‐six studies were selected, thus limiting the available evidence. There is marked heterogeneity between study designs and case definitions for peri‐implantitis in the studies cited, limiting the generalization of the reported results. Adjunctive systemic antibiotics were used in most studies, but no study evaluated the adjunctive benefit of systemic antibiotics.

Access flap surgery, removal of granulation tissue and implant surface decontamination has been demonstrated to decrease plaque index, BOP, suppuration, probing depths and to arrest bone loss for 58% of implant sites over 5 years. Laser treatment of the exposed implant surface during surgery was not shown to be beneficial.

Available data indicate that it is possible to obtain defect fill of peri‐implantitis defects following surgical‐treatment modalities with concomitant placement of bone or bone substitutes in such defects. However, there is lack of evidence that placement of membranes in addition to grafting procedures provides any additional defect fill.

Conclusions

Surgical therapy for treating peri‐implantitis is a predictable method for treating peri‐implant disease and patients receiving this therapy have benefited from it in the short term.
Peri‐implant tissue destruction. The Third EAO Consensus Conference 2012
Authors: Klinge Björn , Meyle J. ,   Working Group 2
Published: October 2012

Objective

The task of this working group was to update the existing knowledge base regarding the prevalence of peri‐implant tissue destruction, the role of occlusal overload, and the outcome of non‐surgical and surgical treatment.

Materials and methods

The literature was systematically searched and critically reviewed. Four manuscripts were presented in key areas deemed to be essential for the current understanding of the magnitude of the clinical entity peri‐implantitis. The role of overload as an etiological component was reviewed. Also available data on the results from non‐surgical and surgical interventions for the control of tissue destruction were presented.

Results

The consensus statements following plenary session approval, clinical implications, and directions for future research based on the group discussions are presented in this article. The results and conclusions of the systematic review process are presented by the respective authors in the subsequent papers.
Internal vs. external connections for abutments/reconstructions: a systematic review
Authors: Gracis Stefano , Michalakis Konstantinos , Vigolo Paolo , Vult von Steyern Per , Zwahlen Marcel , Sailer Irena
Published: October 2012

Objectives

The objectives of the review were (1) to evaluate the accuracy of implant‐level impressions in cases with internal and external connection abutments/reconstructions, and (2) to evaluate the incidence of technical complications of internal and external connection metal‐ or zirconia‐based abutments and single‐implant reconstructions.

Materials and methods

A MEDLINE electronic search was conducted to identify English language publications in dental journals related to each of the two topics by inserting the appropriate keywords. These electronic searches were complemented by a hand search of the January 2009 to January 2012 issues of the following journals: Clinical Oral Implants Research, The Journal of Prosthetic Dentistry, The International Journal of Prosthodontics, The International Journal of Periodontics and Restorative Dentistry, The International Journal of Oral Maxillofacial Implants, Clinical Implant Dentistry and Related Research.

Results

Seven in vitro studies were included in the review to evaluate the accuracy of implant‐level accuracy. No clinical study was found. There was no study that directly compared the influence of internal and external implant connections for abutments/reconstructions on the accuracy of implant‐level impressions. All in vitro studies reported separately on the two connection designs and they did not use same protocol and, therefore, the data could not be compared.

Fourteen clinical studies on metal‐based abutments/reconstructions and five clinical studies on zirconia‐based abutments/reconstructions satisfied the inclusion criteria and, therefore, were included in the review to evaluate the incidence of technical complications. The most frequent mechanical complication found in both implant connection design when employing metal abutments/reconstructions was screw loosening.

Conclusions

Implant‐level impression accuracy may be influenced by a number of variables (implant connection type, connection design, disparallelism between multiple implants, impression material and technique employed). Implant divergence appears to affect negatively impression accuracy when using internal connection implants.

Based on the sparse literature evaluating the incidence of technical complications of metal or zirconia abutments/reconstructions, it was concluded that:

The incidence of fracture of metal‐based and zirconia‐based abutments and that of abutment screws does not seem to be influenced by the type of connection.

Loosening of abutment screws was the most frequently occurring technical complication. The type of connection seems to have an influence on the incidence of the screw loosening: more loose screws were reported for externally connected implant systems for both types of materials. However, proper preload may decrease the incidence of such a complication.
Ridge preservation after tooth extraction
Authors: Wang Ren E. , Lang Niklaus P.
Published: October 2012

Background

Following tooth extraction, the alveolar ridge will undergo dimensional changes. This change may complicate the subsequent restorative procedure when oral implants are chosen. “Alveolar ridge preservation” has been assessed in various studies.

Aim

To evaluate the more recent studies on this topic and to explore new insights under this topic.

Material and methods

Animal studies and clinical studies have addressed different techniques.

Results and conclusions

Implants placed into the fresh extraction sockets do not prevent the resorption of the alveolar bone. Simultaneous guided bone regeneration could partially resolve alveolar bone resorption. The use of root‐formed implants does not preserve alveolar ridges. Moreover, various bone substitutes have been tested: magnesium‐enriched hydroxyapatite, human demineralized bone matrix, and deproteinized bovine bone mineral have been shown to be effective in ridge preservation. Applying the guided bone regeneration principle using bone substitutes together with a collagen membrane has shown clear effects on preserving alveolar ridge height as well as ridge width. Soft tissue grafts or primary closure did not show beneficial effect on preserving the alveolar bone.
Is Economic Growth Good for Investors?1
Authors: Ritter Jay R.
Published: October 2012

When measured over long periods of time, the correlation of countries' inflation‐adjusted per capita GDP growth and stock returns is negative. This result holds for both developed countries (for which the correlation coefficient is –0.39 using data from 1900–2011) and emerging markets (the correlation is –0.41 over the period 1988–2011). And this means that investors would have been better off investing in countries with lower per capita GDP growth than in countries experiencing the highest growth rates.

This seems surprising since economic growth is generally assumed to be good for corporate profits. In attempting to explain this finding, the author begins by noting that economic growth can be achieved through increased inputs of capital and labor, which don't necessarily benefit the stockholders of existing companies. Growth also comes from technological advances, which do not necessarily lead to higher profits since competition among firms often results in the benefits accruing to consumers and workers. What's more, it's important to recognize that growth has both an expected and an unexpected component. And one explanation for the negative correlation between growth and stock returns is the tendency for investors to overpay for expected growth.

But there is another—and in the author's view, a more important—part of the explanation. Along with the negative correlation between long‐run average stock returns and per capita growth rates, the author also reports a strong positive association between (per share) dividend growth rates and overall stock returns. Such an association is not surprising since unusual growth in dividends is a fairly reliable predictor of increases in future earnings. But another effect at work here is the role of dividends—and, in the U.S., stock repurchases too—in limiting what might be called the corporate “overinvestment problem,” the natural tendency of corporate managers to pursue growth, if necessary at the expense of profitability. One of the main messages of this article is that corporate growth adds value only when companies reinvest their earnings in projects that are expected to earn at least their cost of capital—while at the same time committing to return excess cash and capital to their shareholders through dividends and stock buybacks.
Valuation with Market Multiples: How to Avoid Pitfalls When Identifying and Using Comparable Companies1
Authors: Holthausen Robert W. , Zmijewski Mark E.
Published: October 2012

An important part of the market multiple valuation process is selecting companies for comparison that are really comparable to the company being valued. The goal of assessing comparability is to align the relevant value drivers—especially risk and growth—of the comparable companies with those of the company being valued.

In this paper, the authors examine the relevant value drivers for commonly used market multiples such as EBIT and EBITDA. They show that, in addition to risk and growth, analysts doing market multiple valuations need to take account of differences in variables such as cost structure, working capital, and capital expenditure requirements when assessing comparability.

The authors also show that the degree to which different value drivers are important for assessing the comparability of companies differs across commonly used market multiples. In other words, some multiples are more sensitive than others to changes in certain value drivers. For example, when using a multiple like EBITDA in which certain expenditures (such as capital investments, working capital investments, and some expenses) are not deducted in the calculation of the denominator, assessing comparability based on such expenditures is more important than when using a multiple like free cash flow that deducts that expenditure in calculating the denominator. Or to cite another example, since EBIT and EBITDA make no attempt to reflect income taxes, using income tax cost structures to assess comparability is more important for enterprise value multiples based on these measures than for enterprise value multiples based on “after‐tax” measures of income such as unlevered earnings or free cash flow.

In addition, not all multiples control for differences in cost structure, such as cost of goods sold or SG&A. If a multiple is affected by differences in those value drivers, the comparable companies must be similar to the company being valued on that dimension. Finally, the authors show that differences in capital expenditure and working capital requirements can also have large effects on certain multiples; and as a result, such value drivers also must be considered when assessing comparability.
Excess Cash and Shareholder Payout Strategies
Authors: Abuaf Niso
Published: October 2012

On March 19, 2012, Apple announced a program to distribute its “excess” cash to shareholders in the form of dividends and share buybacks. This announcement followed a pattern that is remarkably similar to the one leading up to Microsoft's announcement in 2004. Likewise IBM, the bluest of blue chips, made a path‐breaking decision to initiate share buybacks in the 1980s. And as recently as April 2012, IBM, along with many other large corporations, announced yet another major share buyback program together with an increase in its dividend.

These actions underscore the reality that senior management's main job is to allocate capital efficiently—and that efficient allocation of capital means distributing it when necessary. In light of these events, and the demand from shareholders that appears to be driving them, this paper explores analytical and empirical issues related to excess cash and corporate payout policy. In so doing, it provides the outline of an analytical framework for executives when thinking about the allocation of excess cash among competing uses, including deleveraging, growth, special and regular dividends, and share buybacks.

The essence of the framework is this: Once companies satisfy their demands for cash based on their expected financial transactions, their targeted capital structure, and prospective investment (mergers and acquisitions) considerations, management should turn its attention to capital structure and shareholder payout decisions. Assuming that the company's capital structure is reasonably close to its target, and that its rating agencies are supportive, management should aim to pay a level of dividends that (1) reflects the underlying strength and stability of their projected earnings streams and that (2) satisfies the expectations of its core shareholders while positioning itself for the future. For more cyclical and otherwise riskier companies, management should also consider the use of stock buybacks or special dividends as a way of paying out the more variable, or unexpected, part of their expected earnings stream.
Pitfalls in Levering and Unlevering Beta and Cost of Capital Estimates in DCF Valuations1
Authors: Holthausen Robert W. , Zmijewski Mark E.
Published: October 2012

The “levering” and “unlevering” of estimates of beta and various costs of capital are routine steps in estimating the discount rates used in DCF valuations. But as the authors demonstrate by reviewing the existing research on the subject, the levering and unlevering formulas that are most commonly used in practice are not appropriate for valuing many companies. They also illustrate the shortcomings of—and substantial valuation errors that can result from—the common practices of assuming that the betas of securities like debt and preferred stock are equal to zero and ignoring the effects of equity‐linked securities such as employee stock options, warrants, and convertible debt.

The authors offer alternative levering formulas that are more appropriate for valuing most companies than—and as readily implemented as—the formulas commonly used today. They also provide a relatively easy way to estimate betas for debt and preferred stock that can be used in the levering and unlevering formulas. The authors discuss how properly to account for equity‐linked securities such as employee stock options, warrants, and convertible debt while demonstrating the potential importance of ignoring such equity‐linked securities in the levering and unlevering formulas. Finally, the authors show why it is appropriate to standardize the treatment of contractual obligations such as leases across comparable companies in order to get consistent estimates of the unlevered cost of capital.
Corporate Governance and the Cost of Capital: Evidence from Australian Companies
Authors: Pham Peter Kien , Suchard Jo‐Ann , Zein Jason
Published: October 2012

The authors examine a sample of large Australian companies over a 10‐year period with the aim of analyzing the role that firm‐level corporate governance mechanisms such as insider ownership and independent boards play in explaining a company's cost of capital. The Australian corporate system offers a unique environment for assessing the impact of corporate governance mechanisms. Australian companies have board structures and mechanisms that are similar in design to Anglo‐Saxon boards while offering a striking contrast to those of German and Japanese boards. At the same time, however, the Australian market for corporate control is much less active as a corrective mechanism against management entrenchment than its U.S. and U.K. counterparts, making the role of internal governance mechanisms potentially more important in Australia than elsewhere.

The authors report that greater insider ownership, the presence of institutional blockholders, and independent boards are all associated with reductions in the perceived risk of a firm, thereby leading investors to demand lower rates of return on capital. In so doing, the study provides evidence of the important role of corporate governance in increasing corporate values.
Assessing Project Risk
Authors: Bernardo Antonio E. , Chowdhry Bhagwan , Goyal Amit
Published: October 2012

Finding the appropriate discount rate, or cost of capital, for evaluating investment projects requires an accurate estimate of project risk. This can be challenging because project risk cannot be estimated directly using the CAPM, but must instead be inferred from a set of traded securities, typically the equity betas of comparable firms in the same industry. These equity betas are then unlevered to undo the effect of comparable companies' financial leverage and obtain estimates of “asset” betas, which are then used to estimate project risk.

The authors show that asset betas estimated in this way are likely to overestimate project risk. The equity returns of companies are risky not only because of their existing projects but also because of their growth opportunities. Such growth opportunities often include embedded “real options,” such as the option to delay, expand, or abandon a project. Because such real options are similar to leveraged positions in the underlying project, a company's growth opportunities are typically riskier than its existing projects. Therefore, to properly assess project risk, analysts must also unlever the asset betas derived from comparable company stock returns for the leverage contributed by their growth options.

The authors derive a simple method for unlevering asset betas for growth options leverage in order to properly assess project risk. They then show that standard methods for assessing project risk significantly overestimate project costs of capital—by as much as 2–3% in industries such as healthcare, pharmaceuticals, communications, medical equipment, and entertainment. Their method should also be applied to stock return volatility to derive project volatility, an important input for determining the value of a firm's growth opportunities and the appropriate time for investing in these opportunities.
The Terminal Value and Inflation Controversy
Authors: Kiechle Daniel , Lampenius Niklas
Published: October 2012

This journal recently published what was effectively a debate between Gunther Friedl and Bernhard Schwetzler (hereafter “F&S”), on the one hand, and Michael Bradley and Gregg Jarrell (“B&J”). B&J initiated the first round of the debate by criticizing the constant growth valuation model, commonly known as the “Constant Growth Model” or “Gordon Growth Model.” The Gordon Growth Model was introduced by Myron Gordon and Eli Shapiro (“G&S”) in a 1956 paper and has long been widely used by corporate and investment practitioners. F&S responded to B&J with a defense of the original G&S formulation.

In revisiting this debate, the authors find that the models B&J and F&S advocate are at bottom two different versions of the same G&S constant growth model, but with quite different assumptions about the effect of inflation on the amount of capital reinvestment required to sustain businesses over time. The authors resolve the dispute by showing that both models, when using a consistent set of assumptions about inflation and capital reinvestment, produce identical growth rates and estimates of value. At the same time, however, the authors recognize that the two models (the G&S/F&S model, on the one hand, and the B&J model on the other) are likely to be appropriate for very different kinds of companies, and each for only small subsets of companies.
Spinoza’s Liberalism
Authors: Kisner Matthew J.
Published: October 2012

While Spinoza’s political philosophy is often described as liberal, it is not always clear what this label means or whether it is warranted. Calling Spinoza ‘liberal’ implies that he belongs to a historical tradition of political philosophers, who formulated and defended claims, which later became identified as central to political liberalism. Consequently, clarifying how Spinoza is a liberal requires specifying precisely which liberal views he articulated and defended. This paper, first, examines the various ways that commentators have interpreted Spinoza as defending liberal commitments. This examination shows that most commentators describe Spinoza as liberal on the grounds that his politics defends the value of individual political freedom, specifically of speech and thought. The paper, second, considers whether he upholds a claim that is important to contemporary liberalism, what is sometimes called the fundamental liberal principle. The paper concludes that Spinoza does not, which suggests that he does not sit as easily in the liberal tradition as some scholars have suggested.
Disgust and Aesthetics
Authors: Korsmeyer Carolyn
Published: October 2012

Disgust is an emotion that is visceral, reactive, and uncomfortable. It is also purposively aroused by art in ways that contribute substantially to the meaning of a work. In such cases “aesthetic disgust” is a component of understanding and appreciation. Disgust comes in many varieties, including the humorous, the horrid, and the tragic. The responses it elicits can be strong or subtle, but few are actually pleasant. Therefore aesthetic disgust raises an ancient question: how is it that emotions aroused in practical life become the focus of pleasure or enjoyment when they are aroused by art? This paper reviews a number of accounts of aesthetic satisfaction in disgust, arguing that the most profound uses convey an immediate and visceral grasp of physical vulnerability and mortality.
Colonic vascular ectasia (angiodysplasia) in a juvenile dog
Authors: Charlesworth T. M. , Dunning M. , Scase T. J. , Anderson D. M.
Published: October 2012

An eight‐month‐old female English springer spaniel was presented with weight loss and severe haematochezia. Upper and lower endoscopy identified small intestinal inflammatory bowel disease and a vascular malformation within the descending colon. The colonic lesion was excised at coeliotomy and identified histopathologically as a colonic vascular ectasia. All clinical signs resolved following surgery and continued dietary management. To the authors’ knowledge this is only the second published report ofCVEin a juvenile dog and the first to survive to long term follow up.
On ethics, the pursuit of knowledge, truth and status in the hallowed halls of academe
Authors: BUCKERIDGE John S. , WATTS Rob
Published: October 2012

Advancement in academe is largely on the basis of research output; that is, refereed journal papers. This paper first explores pressures on academics, especially emerging researchers, when English is not a first language. We assess why, when faculty members rush to improve their station that they may elect to circumvent ethical protocols to accelerate their promotion and status. The resulting unethical behavior includes plagiarism and forms of duplication such as co‐submission. Consideration is then given to the wider implications of both plagiarism and the theft of intellectual property, and the role these have played in the development of individuals, the university and society.
A review of the reproductive biology and breeding management of tapirs
Authors: PUKAZHENTHI Budhan , QUSE Viviana , HOYER Mark , van ENGELDORP GASTELAARS Heleen , SANJUR Oris , BROWN Janine L.
Published: October 2012

Tapirs (Tapirus sp.) have been studied extensively in the wild, yet little is known about their fundamental reproductive biology, information that is critical to establishing self‐sustaining populations in captivity as a hedge against extinction. This paper reviews information on the reproductive biology of the 4 species of tapirs: Baird's (Tapirus bairdii), lowland (T terrestris), mountain (T pinchaque) and Malayan (T indicus). Both sexes reach puberty between 14 and 48 months of age. Behaviorally, tapirs display few overt signs of estrus, and external signs of pregnancy are not evident until approximately 2 months before parturition. Immunoassay techniques to measure reproductive hormones in blood and urine have been validated for tapirs, which allow monitoring of ovarian cycle activity and pregnancy. Data indicate that females are polyestrous, with an estrous cycle length of approximately 30 days. The exception is the Malayan tapir, which exhibits 2 types of cycles: short (approximately 1 month) and long (approximately 2 months). Gestation length is approximately 13 months and females can conceive at the first post‐partum cycle within 1 month after birth. Good quality ejaculates have been obtained via electroejaculation in the Baird's and Malayan tapir and the sperm from Baird's tapir cryopreserved using standard cryodiluents, although more work is needed to optimize these protocols. Given that all 4 species of tapir most likely will continue to be maintained in captivity, effective genetic management is vital for long‐term survival. Optimization of assisted reproductive technologies, including sperm cryopreservation and artificial insemination, could benefit the genetic management of tapirs.
Diet of lowland tapir (Tapirus terrestris) in El Rey National Park, Salta, Argentina
Authors: CHALUKIAN Silvia C. , de BUSTOS M. Soledad , LIZÁRRAGA R. Leonidas
Published: October 2012

Lowland tapir (Tapirus terrestris) is the largest herbivore in the Neotropics and, in Argentina, it inhabits a variety of habitats from 100 to 2100 m asl. Lowland tapirs importantly influence their habitat structure because they are selective browsers, seed predators and long‐distance seed dispersers. However, increased knowledge of tapir ecology is necessary to support the conservation and management of the species in natural and human‐modified environments. Between Jun 2002 and Dec 2008 we assessed the tapir's diet in El Rey National Park, Salta, northwestern Argentina. We collected fresh feces and recorded browsing signs, and we recorded direct observations of tapirs while they were feeding. We analyzed 88 feces samples that had been dried and subsequently weighed. Feces were dominated by fibers and leaves (84.09%), while fruit parts represented a small proportion of the weight (15.91%). During the dry months, a greater percentage of seeds were found in the feces, mainly due to the availability of 3 species of Fabaceae fruits. We recorded a total of 57 plant species from 26 families. Tapirs are adapted to extreme habitats, switching their diet from frugivory to herbivory when fruits are scarce. Considering this, forest remnants and even secondary growth fields should be protected from deforestation.
Decrease in Fruit Moisture Content Heralds and Might Launch the Onset of Ripening Processes
Authors: Frenkel Chaim , Hartman Thomas G.
Published: October 2012

Abstract:  It is known that fruit ripening is a genetically programmed event but it is not entirely clear what metabolic cue(s) stimulate the onset of ripening, ethylene action notwithstanding. Here, we examined the conjecture that fruit ripening might be evoked by an autonomously induced decrease in tissue water status. We found decline in water content occurring at the onset of ripening in climacteric and nonclimacteric fruit, suggesting that this phenomenon might be universal. This decline in water content persisted throughout the ripening process in some fruit, whereas in others it reversed during the progression of the ripening process. Applied ethylene also induced a decrease in water content in potato (Solanum tuberosum) tubers. In ethylene‐mutant tomato (Solanum lycopersicum) fruit (antisense to1‐aminocyclopropane carboxylate synthase), cold‐induced decline in water content stimulated onset of ripening processes apparently independently of ethylene action, suggesting cause‐and‐effect relationship between decreasing water content and onset of ripening. The decline in tissue water content, occurring naturally or induced by ethylene, was strongly correlated with a decrease in hydration (swelling) efficacy of cell wall preparations suggesting that hydration dynamics of cell walls might account for changes in tissue moisture content. Extent of cell wall swelling was, in turn, related to the degree of oxidative cross‐linking of wall‐bound phenolic acids, suggesting that oxidant‐induced wall restructuring might mediate cell wall and, thus, fruit tissue hydration status. We propose that oxidant‐induced cell wall remodeling and consequent wall dehydration might evoke stress signaling for the onset of ripening processes.

Practical Application:  This study suggests that decline in fruit water content is an early event in fruit ripening. This information may be used to gauge fruit maturity for appropriate harvest date and for processing. Control of fruit hydration state might be used to regulate the onset of fruit ripening.
WARFARIN MANAGEMENT IN HAEMODIALYSIS—ARE WE MEETING BRITISH HAEMATOLOGY SOCIETY STANDARDS?
Authors: Parker Kathrine , Vincent Marc , Mitra Sandip
Published: October 2012

Background: We evaluated current oral anticoagulant management at our main dialysis unit and three satellite units against British Haematology Society (BHS) standards. These standards include patients meeting their target INR 60.5 INR units for 60% of the time with an appropriate frequency of monitoring.

Methods: Data were collected on anticoagulant prescribing and monitoring over one month.

Results: None of the four haemodialysis centres were able to achieve BHS standards for all patients. There was wide variability in monitoring frequency, some patients had 13 INRs and up to 10 dose changes. Satellite C had the most patients (63%) meeting BHS target. Satellite A and B both had 50% of patients meeting target. However, Satellite A, where all patients were dosed by anticoagulant clinic, had the least frequent blood sampling and no patients exceeded the therapeutic INR.

Conclusion: Units that employed dosing by anticoagulant clinics demonstrated best outcome for INR target with the least frequency of sampling. Service design set up and monitoring pathways play a crucial role in achieving warfarin therapeutic targets in haemodialysis units.
Piper relictum sp. nov. (Piperaceae) from northern Western Ghats, India
Authors: Lekhak Manoj Madhwanand , Kambale Sharad Suresh , Yadav Shrirang Ramchandra
Published: October 2012

A new species of Piper, P. relictum Lekhak, S. S. Kambale & S. R. Yadav sp. nov. is described and illustrated. It grows as a climber on the edges of high altitude lateritic plateaus in evergreen forests of the northern Western Ghats in India. The new species is similar to P. galeatum, but differs in the characters of the male inflorescence.
Activity of temperate grassland plants and symbiotic fungi during the winter – implications for community structure and carbon cycling in a changing climate
Authors: Birgander Johanna , Rousk Johannes , Olsson Pål Axel
Published: October 2012

Several investigations have revealed surprisingly high activities during the winter in vegetation and soil in temperate and subarctic areas. Plants have been found to photosynthesize even under snow cover and at temperatures below freezing, and decomposer microorganisms can function, at low rates, all year around. In temperate grasslands, the vegetation includes winter annual herbs as well as bryophytes, which have the potential to be active and are thus susceptible to changing temperatures during winter. If temperatures stay below freezing and there is a snow cover, an increase in temperatures could in fact decrease the soil temperature due to reduced insulation by snow cover. On the other hand, if winter temperatures initially fluctuate around the freezing point, an increase by a few degrees might produce frost‐free conditions. Based on available data, the composition of plant communities are strongly influenced by temperature conditions in the preceding winter. We conclude that the winter season in grasslands needs more research attention, to start to resolve which species are active and how they respond to a changing climate.
High Prevalence of the c.74A>CSPINK1Variant in Miniature and Standard Schnauzers
Authors: Furrow E. , Armstrong P.J. , Patterson E.E.
Published: October 2012

Background

Variants in the serine protease inhibitor Kazal type 1 (SPINK1) gene have been associated with pancreatitis in Miniature Schnauzers. Replication of the association in an independent population is necessary to determine if genetic screening forSPINK1variants should be considered in clinical practice.

Hypothesis

An association between theSPINK1exonic variant c.74A > C and pancreatitis exists in Miniature Schnauzers. In addition, the variant is absent or rare in Standard Schnauzers, a related breed that is not reported to have an increased risk for pancreatitis.

Animals

Case‐control study. Seventeen Miniature Schnauzers with pancreatitis (cases), 60 mature Miniature Schnauzers with no substantial history of gastrointestinal signs in their lifetime (controls), and 31 Standard Schnauzers of unknown pancreatitis status.

Methods

APCR‐RFLPassay was used to genotype dogs for the c.74A > CSPINK1variant. Allele and genotype frequencies were reported for Schnauzers and compared between case and control Miniature Schnauzers.

Results

The c.74A > C variant was the major allele in both Schnauzer breeds with a frequency of 0.77 in Miniatures and 0.55 in Standards. The allele and genotype frequencies were similar between Miniature Schnauzers with and without a history of pancreatitis and did not impart an increased risk for pancreatitis.

Conclusions and Clinical Importance

Genotyping a larger population of the Miniature Schnauzer breed than a previous study, along with a Standard Schnauzer cohort, demonstrated that theSPINK1c.74A > C variant is a common polymorphism in the Schnauzer lineage. Furthermore, we were unable to confirm a relationship between the variant and clinically detectable pancreatitis in Miniature Schnauzers.
Latina Adolescent Suicide Ideations and Attempts: Associations with Connectedness to Parents, Peers, and Teachers
Authors: De Luca Susan M. , Wyman Peter , Warren Keith
Published: October 2012

Associations between suicidal behavior and social‐ecological variables were examined among 1,618 Latina high school students (mean age = 15) from the nationally representative Add Health sample (68% were U.S.‐born). Ideations were associated with having a suicidal friend, lower perceived father support, and overall parental caring. Attempts were associated with having a suicidal friend, and lower perceived teacher and parental support. Peer and mother relationship variables were not predictors of ideations or attempts. The protective role of father and teacher support has not previously been emphasized in the literature. Strengthening connections to parents and teachers may reduce suicidal behavior in adolescent Latinas.