bluuebunny/crossref_metadata_2025 huggingface dataset:
Accounting for derivative instruments and hedging activities (SFAS No. 133)
Authors: Eckstein Claire , Markelevich Ariel , Reinstein Alan
Published: May 2008

Purpose

The purpose of this paper is to examine the impact of firms using derivatives applying Statement of Financial Accounting Standards (SFAS) No. 133. It aims to measure the magnitude of cumulative effects of changes in accounting principle from the income statement in the year of adoption, market reaction to earnings announcements, and key financial ratios effects.

Design/methodology/approach

Search of the Compustat Industrial database for firms reporting a cumulative effect of a change in accounting principle in their annual income statements for fiscal years ending after 15 June, 2000. We then examine the impact of firms using derivatives applying SFAS No. 133.

Findings

The sampled firms reported an absolute cumulative effect on income of $6.8 billion, 65 per cent of which was negative. Significant negative unexpected returns were observed around earnings announcement dates. Abnormal returns correlated with the cumulative effect, rather than with change in earnings per share from operations, showing that the surprise related to the accounting change. Ratio analyzes and regressions results show sampled firms with material unrealized gains and losses related to hedging with derivative instruments. Earnings‐related ratios, return on assets (ROA), return on equity (ROE) and measures of other comprehensive income decreased significantly from 2000 to 2001 after experiencing prior period significant increases.

Practical implications

The results presented in the paper should lead to further research on the effect on new authoritative standards on the financial reporting process.

Originality/value

Rather than judge SFAS No. 133's relative merits and shortcomings, the Standard's actual (rather than predicted) effects were analyzed. Focus was on the magnitude of the impact of SFAS No. 133 and the effect on key financial ratios. The impact of adopting the Standard was analyzed and it was found that it violated a basic tenet of financial accounting pronouncements: a “value neutral” basis was examined.
Market valuation of accrual components
Authors: Francis Rick
Published: May 2008

Purpose

The purpose of this paper is to generate empirical evidence that facilitates our understanding of the market pricing for cash flows and accruals.

Design/methodology/approach

The study is empirical in nature, and utilizes and archival methodology.

Findings

The evidence in this study supports the primary hypothesis that the market valuations for the receivable accrual are greater than the valuations for other current accruals. Additionally, the results suggest that market valuations for cash flows are not monotonically greater than the valuations for accruals.

Research limitations/implications

Overall, the results of this study suggest that inferences about the market's valuation of cash flows and accruals must consider multiple sources of variation in a concurrent fashion.

Practical implications

Models for equity valuation used by financial analysts, institutional investors, etc. should allow the various components of accruals to act independently.

Originality/value

This study contributes to the literature by synthesizing various aspects of capital markets research in accounting to enhance our understanding of the role that cash flows and accruals maintain for equity valuation.
Agency theoretic determinants of debt levels: evidence from Ghana
Authors: Abor Joshua
Published: May 2008

Purpose – The purpose of this study is to examine the relationship between agency factors and the debt level of Ghanaian small and medium enterprises (SMEs). Design/methodology/approach – Generalized least squares model is used to estimate the regression equation. Findings – The results indicate that managerial ownership is negatively related to debt level. This suggests that SMEs with insider shareholders may prefer lower leverage to reduce the risk of insolvency. The results also show that SMEs with many shareholders are less likely to employ debt finance. Firms with many shareholders are not likely to entertain the fear of loss of control since the firm is seen as group‐owned. Originality/value – The findings of this study generally suggest that managerial ownership is important in explaining the capital structure of Ghanaian SMEs. This study extends our understanding of the agency theory and the capital structure of SMEs from the Ghanaian context.
Catastrophe effects on stock markets and catastrophe risk securitization
Authors: Yang Charles C. , Wang Mulong , Chen Xiaoying
Published: May 2008

Purpose

Conventional wisdom states that catastrophe risk securities show no or little correlation with stock and bond markets, and offer significant attractions to investors providing a good diversification of risks. This study examines the correlation between catastrophe risk securities and portfolios of other equities by analyzing catastrophe effects on the Japanese stock market.

Design/methodology/approach

Using catastrophe data from SwissRe Sigma publications and stock returns from the Pacific‐Basin Capital Markets database, this paper analyzes stock and abnormal returns in the Japanese stock market using event study methodology.

Findings

For the Japanese stock market as a whole, there is no significant catastrophe effect. The results indicate a significant negative correlation between catastrophe loss amount and the insurance industry's equity returns and abnormal returns, a significant positive correlation with the construction industry, but no significant correlation with the real estate industry. This paper also analyzes the impact of catastrophe causalities. The results show little evidence on the significance of these variables.

Originality/value

This study provides important insights to the insurance/reinsurance industry in the Japanese risk market for catastrophe property and mortality risk securitization and to investors who are interested in further improvement of their portfolio risk/return profile by including catastrophe risk securities.
Wald's maximin model: a treasure in disguise!
Authors: Sniedovich Moshe
Published: May 2008

Purpose

The purpose of this paper is to illustrate the expressive power of Wald's maximin model and the mathematical modeling effort requisite in its application in decision under severe uncertainty.

Design/methodology/approach

Decision making under severe uncertainty is art as well as science. This fact is manifested in the insight and ingenuity that the modeller/analyst is required to inject into the mathematical modeling of decision problems subject to severe uncertainty. The paper elucidates this point in a brief discussion on the mathematical modeling of Wald's maximin paradigm.

Findings

The apparent simplicity of the maximin paradigm implies that modeling it successfully requires a considerable mathematical modeling effort.

Practical implications

The paper illustrates the importance of mastering the art of mathematical modeling especially in the application of Wald's maximin model.

Originality/value

This paper sheds new light on some of the modeling aspects of Wald's maximin paradigm.
Conceptual lessons on financial strategy following the US sub‐prime crisis
Authors: Foo Check‐Teck
Published: May 2008

Purpose

On September 18, 2007, the Federal Reserve Open Market Committee took a major step by cutting the federal funds rate by one‐half a percent (50 basis points). The only time this had happened in the USA was immediately after the September 11, 2001 attacks. Then the sub‐prime derivatives market threatened to engulf the US economy under a dark cloud of uncertainty. The purpose of this paper is an attempt to draw lessons relevant to international financial strategy from the US sub‐prime crisis.

Design/methodology/approach

This paper presents reflections upon the sub‐prime derivatives market that had begun to evolve since 1993. Reviewing the situation from then until as late as of October 18, 2007, five key lessons are conceptualized. Where possible, insights on the major lessons to be drawn are rendered through simple diagrams.

Findings

Five major lessons may be drawn from the sub‐prime turmoil. For easy citation, these are presented as idioms: “Do not put all bad eggs in one basket,” “Excessive demand outbalances risk and return,” “Robustness of actions for resolving a crisis,” “Banks to stay respectable as banks,” “Outcome of innovation, greed, and politics.” In conclusion, all these lessons are integrated through an overview.

Practical implications

These lessons are explained in a manner so as to render them useful for both practitioners in the financial industry globally and a broader audience of interested readers. In particular, a thinking approach to learning is emphasized. Financial innovators are reminded of the wisdom of the ancients (eggs in a basket), and the applications of artificially intelligent forecasts of financial futures; specifically, US$ exchange rates are brought into the discussion.

Originality/value

This is an original piece of thinking on what lessons may be drawn from a major highly turbulent event: the sub‐prime crisis. It is an event that is a direct consequence of innovation in the financial markets.
Social learning in MMOG: an activity theoretical perspective
Authors: Siang Ang Chee , Zaphiris Panayiotis
Published: May 2008

Purpose

Recently, researchers have begun investigating the learning process that occurs within computer games (learning to play), as opposed to studying games that support explicit learning for educational purposes (playing to learn). With the increasing popularity of massively multiplayer online games (MMOGs), some research has begun to look beyond individual play and is now focusing on social play. By conducting a 30 day virtual participant observation in an MMOG, namely World of Warcraft (WoW) this paper aims to identify and provide a theoretical explanation of the process of learning that takes place in such an open‐ended virtual world.

Design/methodology/approach

Through the lens of activity theory, the paper focuses its analysis on the tool, the goal, the activity of game playing and contradictions.

Findings

It was found that social learning could occur through intrinsic and extrinsic play. Intrinsic play is play oriented toward goal completion while extrinsic play is directed toward reflection and expansion of intrinsic play. WoW is designed with tools that facilitate these types of play, and therefore learning that emerges from them. Furthermore, learning involves not only the process of acquiring knowledge and skills to accomplish certain goals, but also the process of defining the goal, thus shaping the learning process.

Originality/value

The results could be used to inform game design either for social play or for social learning.
Preservice teachers’ guide for learner‐centered technology integration into instruction
Authors: Rice Marilyn P. , Johnson Daphne , Ezell Bobby , Pierczynski‐Ward Michelle
Published: May 2008

Purpose

Planning is a critical step in the process toward quality instruction and should also include consideration for what technology is appropriate for the lesson. Teacher educators must assist preservice teachers in learning this critical planning step of the instructional cycle. The purpose of this article is to present a step‐by‐step procedure to be used by preservice teachers when determining the appropriate use of technology in instruction.

Design/methodology/approach

Various strategies have been used by teacher educators to facilitate preservice teachers’ learning how to integrate technology. Some of these strategies are the modeling of technology integration by university instructors, the exposure to the use of technology in the classrooms during field experience, and including technology into the curriculum. In spite of these efforts, there is evidence that some teacher educators feel that preservice teachers are still not convinced of the value of integrating technology in their lessons. This article suggests that perhaps preservice teachers are still reluctant about the benefit of integrating technology because they have not been given a process for deciding which form(s) of technology should be used for what kind of instruction.

Findings

Included are charts with detailed descriptions, providing a step‐by‐step process for integrating technology into instruction. These charts demonstrate that the decision about what technology to use in a lesson is first based upon the needs of the learners and the material being taught.

Originality/value

This process demonstrates that technology is transparent: curriculum and the needs of learners drive the choice of technology, instead of technology being used just for technology sake.
Exploring GSM data in pervasive environments
Authors: Anderson Ian , Muller Henk
Published: May 2008

Purpose

A cell phone that behaves in a manner reflective of the current context has been a goal for the pervasive and ubiquitous research communities for a long time. This paper aims to demonstrate how two aspects of context – location and activity – can be inferred using GSM data present on standard cell phones.

Design/methodology/approach

A background knowledge of GSM networks is provided, followed by an assessment of the stability of signal strength levels in order to establish their usefulness in inferring aspects of context. A qualitative location system using GSM signals is presented and how to infer the current activity of the cell phone carrier is demonstrated.

Findings

The paper shows that by using the patterns of signal strength fluctuations and changes to the current serving cell and monitored neighbouring cells it is possible to distinguish between various states of movement such as walking, driving a car and remaining stationary.

Originality/value

The paper focuses on the practical aspects of deploying and managing location based services in dynamic outdoor environments.
Probabilistic self‐scheduling for coverage configuration in wireless ad‐hoc sensor networks
Authors: Lu Jun , Bao Lichun , Suda Tatsuya
Published: May 2008

Purpose

Sensing coverage is a critical issue in sensor network deployments. The paper aims to propose a novel scheme to maintain the sensing coverage in sensor networks, which is termed coverage‐aware self‐scheduling (CASS).

Design/methodology/approach

The paper describes a generic unifying framework to incorporate different connectivity and coverage maintenance schemes. Simulations are carried out under the framework by integrating CASS with an existing connectivity maintenance scheme ‐ the low‐energy adaptive clustering hierarchy.

Findings

Different from the existing work on coverage maintenance, CASS probabilistically schedules sensing activities according to the sensor's contribution to the sensing coverage of the whole sensor network. CASS reduces the number of active sensors to maintain certain coverage. Besides the sensing coverage, the connectivity of the network topologies is required for the purpose of communicating among sensors to collect sensing data. Simulation results show that CASS can considerably improve the energy efficiency of sensing coverage with low communication and computation overhead.

Originality/value

The paper shows that CASS is designed to allow sensors with higher coverage contribution to have more chance to sense.
A cross‐layer design for heterogeneous routing in wireless mesh networks
Authors: Shen Shih‐Hao , Huang Yueh‐Min , Ding Jen‐Wen
Published: May 2008

Purpose

Wireless mesh networks (WMNs) are regarded as a milestone in developing next‐generation wireless networks. The multi‐hop architecture of WMN makes it very attractive. However, interoperability is an inherent problem for deploying a large‐scale WMN, which may consist of various types of wireless networks. There are two intuitive approaches to solving the interoperability problem: the dual‐stack/multi‐stack approach and the naive layer‐2 broadcast approach. While the former incurs high cost in all devices, the latter creates broadcast storm in the whole network. This paper aims to propose a cross‐layer heterogeneous routing protocol for solving this problem without the adverse effects of the intuitive approaches.

Design/methodology/approach

A conceptual discussion and approach are employed.

Findings

The simulation results validate the efficiency of the proposed protocol.

Originality/value

The paper provides details of a method for routing selection in WMNs.
Ubiquitous content formulations for real‐time information communications
Authors: Eddie Law K.L. , So Sunny
Published: May 2008

Purpose

With rapid advances in wireless portable devices, ubiquitous computing seems becoming a reality everyday. The paper aims to explore the possibility of offering real‐time content adaptation on set of data streams using the active pervasive network infrastructure.

Design/methodology/approach

With different relative importance among the data sets, traffic control and discrimination with different operations on content adaptation are examined. Piggyback extension to users' preferences messages is proposed to smoothly enhance the active pervasive network infrastructure design.

Findings

Content adaptation is achieved transparently to both clients and server systems. Real‐time delivery services overcome stochastic network situations and abruptly changing bottleneck link bandwidth problem while retaining information integrity and preserving critical data at the best of the limit of an environment.

Originality/value

The paper explores real‐time content adaptation on data streams using the active pervasive network infrastructure.
Applying cross‐cultural student teams for supporting international networking of Estonian enterprises
Authors: Elenurm Tiit
Published: May 2008

Purpose

The purpose of this paper is to explore the action learning experience of business students in cross‐cultural teams in the role of international business information gatekeepers for small‐ and medium‐sized enterprises (SME) focused on international business opportunities.

Design/methodology/approach

Action research is applied by combining a questionnaire survey, analysis of mid‐term and final project reports, reflective team discussions and feedback from representatives of enterprises.

Findings

The cross‐cultural alignment of teamwork habits – offering leads for business contacts when presenting broader innovative ideas to SMEs, demonstrating the competence of the team when specifying the preliminary task and sharing knowledge with other teams – are essential challenges for project teams. Reflections of the teamwork process reveal the impact of some of the dimensions of cultural diversity introduced by Hofstede and Trompenaars.

Research limitations/implications

Student teams and enterprises did not represent all key Estonian export destinations. Southern European countries and China are overrepresented in comparison with northern European countries that are culturally closer to Estonia. Further research could link action research, follow‐up surveys of SMEs involved in the projects and comparisons of SME samples from different business sectors.

Practical implications

Entrepreneurs in Baltic countries and in other new EU member states can benefit from gatekeepers that help entrepreneurs understand more advanced markets and to develop cross‐border networking with partners in other regions of Europe. A virtual community that can match students from different cultures, before and after their Erasmus exchange, in a co‐operation network for a cross‐border market study and search for contacts within enterprises is needed to facilitate more advanced cross‐border networking in the entrepreneurship‐education process.

Originality/value

The paper highlights factors supporting and inhibiting cross‐cultural synergies between action learning and e‐learning, cross‐border student exchange and knowledge sharing between SMEs and international student teams.
Boundary work as inner and outer dialogue: dieticians in Sweden
Authors: Wikström Ewa
Published: May 2008

Purpose

This purpose of this paper is to examine the ways in which one occupational group used boundary work to increase their influence and power with more influential occupational groups in a medical setting.

Design/methodology/approach

A qualitative interview study is used to investigate an occupational group (hospital dieticians) as it tried to increase its influence in a setting of established occupational groups. Data were collected through semi‐structured interviews with dieticians and managers at a university hospital, and by the examination of selected hospital documents.

Findings

This study concludes that the dieticians' boundary work to become more influential in a setting of established groups was characterized by their boundary setting actions as inner dialogue and their boundary spanning actions as outer dialogue. In the inner dialogue, the dieticians established a professional group and a vocabulary for the continuous communication of their unique competence that could relate to the existing medical knowledge. In the outer dialogue, the dieticians structured and made sense of their setting by the labelling of roles as power entities and by using self‐images and metaphors.

Research limitations/implications

This research was designed to describe the dieticians' efforts and experiences in the studied setting. Therefore, the data provide access to one occupational group but not to the other groups in that setting. A second limitation is the absence of observations.

Practical implications

This research contributes to the knowledge of the relevance of practitioners involved in boundary work aimed at improving professional collaboration. The study is helpful in identifying important boundaries that facilitate the establishment of collaborative relationships, and the development of accounts, procedures and routines.

Originality/value

The research focuses on how influence on practice is constituted through boundary work.
Tackling youth restiveness in the Niger Delta region of Nigeria through entrepreneurship
Authors: Ikechukwu Owualah Sunday , Ogechukwu Obokoh Lawrence
Published: May 2008

Purpose

This study aims to investigate the efficacy of entrepreneurship training in providing meaningful self‐employment for the restive youths in the Niger Delta region of Nigeria in order to channel their youthful energies into more productive economic activities instead of vandalism and hostage‐taking.

Design/methodology/approach

Data obtained from a structured questionnaire on a random sample of 100 youths in Delta, Bayelsa and Rivers States was factor analysed with varimax rotation to identify the most critical factors likely to influence entrepreneurial career. Spearman's ρ was applied to ascertain the overall agreement among the respondents on state basis.

Findings

Government, non‐governmental organisations (NGOs) and institutional financial support, personal traits, experience and tolerance for risks, role model influence and availability of infrastructure and personal financial resources were the factors rated important in influencing a career in entrepreneurship.

Research limitations/implications

The small size of the sample and focus on a limited number of states in the Niger Delta region limit the generalisability of this study.

Practical implications

Youths can be empowered through entrepreneurship taking advantage of its job creation potentials.

Originality/value

This study provides state policy makers, oil companies and NGOs additional insights about the strategies to resolve a problem that is increasingly taking its toll on oil and gas exploration and production in the region.
Social enterprise resisting social accounting: reflecting on lived experiences
Authors: Gibbon Jane , Affleck Arthur
Published: May 2008

Purpose

The advantages of using social accounting (SA) by social enterprises are widely evident (e.g. Social Audit Network, New Economics Foundation). The data gathered by the authors, through introductory SA workshops and training attended by 30 organisations and a single case study, are used with the purpose of demonstrating that the barriers and resistance to SA are widespread.

Design/methodology/approach

The paper focuses upon the analysis of the lived experiences of SA discussed by 31 workshop participants and the more detailed experience of one participant organisation over two years. An action research approach was used across the training project, with insider action research used with the single case organisation.

Findings

The research develops a deeper understanding of the issues (real and perceived) surrounding the barriers and resistance to SA, how they could be overcome and leads to the formulation of mechanisms to address them.

Research limitations/implications

This work is based upon a project working with a sample of social enterprises and gives a view of the lived experiences of practitioners approaching SA for the first time, it does not claim generalisability.

Practical implications

The research is of use to social enterprise practitioners and trainers struggling with decisions as to how to approach SA whilst overcoming barriers and resistance. If SA is appropriate then these insights should aid the development of a “model” of SA that is fitting. It also furthers an understanding around the issues of accountability and value measurement within social enterprise and how this needs to be supported at an organisational and government level.

Originality/value

Understanding of resistance in the context of social enterprise this offers a unique understanding for other social enterprises to reflect upon their own organisation and determine, if SA is suitable for them. If SA is appropriate for their organisation, then these insights should aid the development of a “model” of SA that is fitting for their organisation.
Business planning training for social enterprise
Authors: Conway Clifford
Published: May 2008

Purpose

This paper seeks to explain how the course content of a Graduate Certificate in Social Enterprise was varied to meet the unique business planning training needs for social enterprise.

Design/methodology/approach

The research began with a review of the literature covering generic and social enterprise business planning, the findings of which were applied into the design of the course.

Findings

The paper concludes that although there are a number of similarities in business planning needs for start‐up commercial and social enterprise business plans, the differences are, however, significant enough to require that course design should take these into account and thus avoid delivering a generic programme that does not fully meet student needs.

Practical implications

Academic and professional deliverers of business planning programmes are strongly recommended not to offer generic offerings but instead tailor to the needs of the social enterprise sector.

Originality/value

This paper will be of interest to providers of programmes aimed at social enterprises as well as social enterprise practitioners responsible for staff training. The literature in this area is still nascent while the development of accredited courses is still quite new and therefore the paper helps contribute to the development of best practice in the delivery of programmes to this sector.
Social entrepreneurship in the social policy curriculum
Authors: Gunn Robert , Durkin Chris , Singh Gurnam , Brown John
Published: May 2008

Purpose

This paper aims to describe and analyse the development of a teaching module that introduces undergraduate students to the core skills required to develop and manage a welfare organisation. It makes particular reference to social enterprise.

Design/methodology/approach

The paper explores the political and educational context which inspired this initiative and the theoretical basis for the approach used. A particular focus is placed on the entrepreneurial aspects of the development. It moves on to describe the delivery of the module to the first cohort of students and includes their assessment of the learning and an evaluation of how they performed the assessment task.

Findings

Students were very positive about the content of the module; the teaching style employed and reported that it had inspired them to be entrepreneurial.

Practical implications

Students who are now paying large sums in fees may well be motivated to enrol on courses that are practice based or enhance professional development through engaging with “real world” issues. Such courses equip them with the skills and knowledge they need to boost their chances of pursuing a career in an area that fits their personal motivations, values and interests.

Originality/value

The paper addresses the real life experience of delivering enterprise skills training to social policy students, a group not traditionally associated with this type of approach. The paper will be of interest to students, academics and practitioners in the fields of contemporary welfare delivery and management who are interested in developing entrepreneurship skills training in higher education and workplace settings.
Lean and learning: action learning for service improvement
Authors: Pedler Mike , Abbott Christine
Published: May 2008

Purpose

The purpose of this paper is to examine questions concerning service improvement and the possible contribution of action learning as a means of bringing about both personal and organisational development. A second companion paper deals with the facilitation issues in this context (submitted to Leadership in Health Services, December 2007).

Design/methodology/approach

This research reports on the experiences of participants on a leadership development programme, who were seeking to effect service improvements in their professional domains. Data were collected via telephone interviews, focus groups, action learning sets and a world cafe event.

Findings

The paper concludes that the definition of “service improvement” is multiple and problematic. It concludes that action learning and service improvement can be natural partners but only if the action learning design is crafted to the specifics of the context.

Research limitations/implications

This case study was developed at a time of great turmoil in the NHS. The findings may be taken as indicative and instructive rather than reproducible.

Practical implications

NHS service improvements are failing to keep pace with targets due to an over‐reliance on centrally initiated programmes and a deficit in local efforts. NHS and other managers will find this paper useful to help them bring about service improvements at local level.

Originality/value

As far as the authors know there are no other published accounts of service improvement initiatives developed via action learning.
Validating the primary provider theory in emergency medicine
Authors: Guarisco Joseph S. , Bavin Stefoni A.
Published: May 2008

Purpose

The purpose of this paper is to provide a case study testing the Primary Provider Theory proposed by Aragon that states that: disproportionate to any other variables, patient satisfaction is distinctly and primarily linked to physician behaviors and secondarily to waiting times.

Design/methodology/approach

The case study began by creating incentives motivating physicians to reflect and improve behaviors (patient interactions) and practice patterns (workflow efficiency). The Press Ganey Emergency Department Survey was then utilized to track the impact of the incentive programs and to ascertain any relationship between patient satisfaction with the provider and global patient satisfaction with emergency department visits by measuring patient satisfaction over an eight quarter period.

Findings

The findings were two‐fold: firstly, the concept of “pay for performance” as a tool for physician motivation was valid; and secondly, the impact on global patient satisfaction by increases in patient satisfaction with the primary provider was significant and highly correlated, as proposed by Aragon.

Practical implications

These findings can encourage hospitals and physician groups to place a high value on the performance of primary providers of patient care, provide incentives for appropriate provider behaviors through “pay for performance” programs and promote physician understanding of the links between global patient satisfaction with physician behaviors and business growth, malpractice reduction, and other key measures of business success.

Originality/value

There are no other case studies prior to this project validating the Primary Provider Theory in an urban medical center; this project adds to the validity and credibility of the theory in this setting.
Kinetic barriers and the role of topology in protein and RNA folding
Authors: Sosnick Tobin R.
Published: May 2008

This review compares the folding behavior of proteins and RNAs. Topics covered include the role of topology in the determination of folding rates, major folding events including collapse, properties of denatured states, pathway heterogeneity, and the influence of the mode of initiation on the folding pathway.
Eculizumab, a terminal complement inhibitor, improves anaemia in patients with paroxysmal nocturnal haemoglobinuria
Authors: Schubert Jörg , Hillmen Peter , Röth Alexander , Young Neal S. , Elebute Modupe O. , Szer Jeffrey , Gianfaldoni Giacomo , Socié Gérard , Browne Paul , Geller Robert , Rother Russell P. , Muus Petra
Published: May 2008

In paroxysmal nocturnal haemoglobinuria (PNH), chronic destruction of PNH red blood cells (RBCs) by complement leads to anaemia and other serious morbidities. Eculizumab inhibits terminal complement‐mediated PNH RBC destruction by targeting C5. In the phase III, double‐blind, placebo‐controlled, TRIUMPH study, eculizumab reduced haemolysis, stabilized haemoglobin levels, reduced transfusion requirements and improved fatigue in patients with PNH. Herein, we explored the effects of eculizumab on measures of anaemia in patients from the TRIUMPH study and the open‐label SHEPHERD study, a more heterogeneous population. Eculizumab reduced haemolysis regardless of pretreatment transfusion requirements and regardless of whether or not patients became transfusion‐dependent during treatment (P < 0·001). Reduction in haemolysis was associated with increased PNH RBC counts (P < 0·001) while reticulocyte counts remained elevated. Eculizumab‐treated patients demonstrated significantly higher levels of haemoglobin as compared with placebo in TRIUMPH and relative to baseline levels in SHEPHERD (P < 0·001 for each study). Eculizumab lowered transfusion requirement across multiple pretreatment transfusion strata and eliminated transfusion support in a majority of both TRIUMPH and SHEPHERD patients (P < 0·001). Patients who required some transfusion support during treatment with eculizumab showed a reduction in haemolysis and transfusion requirements and an improvement in fatigue. Eculizumab reduces haemolysis and improves anaemia and fatigue, regardless of transfusion requirements.
Highly purified CD38+ sub‐populations show no evidence of preferential clonal evolution despite having increased proliferative activity when compared with CD38− sub‐populations derived from the same chronic lymphocytic leukaemia patient
Authors: Lin Thet Thet , Hewamana Saman , Ward Rachel , Taylor Hannah , Payne Tammy , Pratt Guy , Baird Duncan , Fegan Chris , Pepper Chris
Published: May 2008

In agreement with a recently published manuscript, this present study demonstrated that CD38+ sub‐populations had increased proliferative activity as evidenced by higher Ki‐67 expression (P < 0·0001). This raised the possibility that the CD38+ fraction is exposed to an increased risk of clonal evolution. However, serial fluorescence in situ hybridisation analysis of highly purified CD38+ and CD38− sub‐populations from individual patients revealed no distinct cytogenetic lesions or evidence of preferential clonal evolution in the CD38+ fractions when compared with their CD38− counter‐parts (P = 0·13). Furthermore, telomere length analysis revealed that all of the sub‐populations had similarly short telomeres (P = 0·31) and comparably low telomerase (TERT) expression (P = 0·75) and telomerase activity (P = 0·88). Subsequent examination of cell‐sorted CD38+ and CD38− sub‐populations from paired peripheral blood and bone marrow samples taken on the same day showed no significant difference in CD38, Ki‐67, TERT expression or telomere lengths, indicating that these chronic lymphocytic leukaemia cells were derived from a single pool trafficking between these two compartments. Taken together, our data show that chronic lymphocytic leukaemia cells derived from bimodal patients all have extensive proliferative histories and have undergone a similar number of cell divisions that is mirrored by the episodic expression of CD38.
Pathogenesis of Asthma
Authors: HOLGATE STEPHEN T.
Published: May 2008

While asthma is considered an inflammatory disorder of the conducting airways, it is becoming increasingly apparent that the disease is heterogeneous with respect to immunopathology, clinical phenotypes, response to therapies, and natural history. Once considered purely an allergic disorder dominated by Th2‐type lymphocytes, IgE, mast cells, eosinophils, macrophages, and cytokines, the disease also involves local epithelial, mesenchymal, vascular and neurologic events that are involved in directing the Th2 phenotype to the lung and through aberrant injury‐repair mechanisms to remodeling of the airway wall. Structural cells provide the necessary “soil” upon which the “seeds” of the inflammatory response are able to take root and maintain a chronic phenotype and upon which are superimposed acute and subacute episodes usually driven by environmental factors such as exposure to allergens, microorganisms, pollutants or caused by inadequate antiinflammatory treatment. Greater consideration of additional immunologic and inflammatory pathways are revealing new ways of intervening in the prevention and treatment of the disease. Thus increased focus on environmental factors beyond allergic exposure (such as virus infection, air pollution, and diet) are identifying targets in structural as well as immune and inflammatory cells at which to direct new interventions.
Respiratory syncytial virus infection provokes airway remodelling in allergen‐exposed mice in absence of prior allergen sensitization
Authors: Tourdot S. , Mathie S. , Hussell T. , Edwards L. , Wang H. , Openshaw P. J. M. , Schwarze J. , Lloyd C. M.
Published: May 2008

Background
The mechanisms underlying exacerbation of asthma induced by respiratory syncytial virus (RSV) infection have been extensively studied in human and animal models. However, most of these studies focused on acute inflammation and little is known of its long‐term consequences on remodelling of the airway tissue.

Objective
The aim of the study was to use a murine model of prolonged allergen‐induced airway inflammation to investigate the effect of RSV infection on allergic airway inflammation and tissue remodelling.

Methods
We subjected mice to RSV infection before or during the chronic phase of airway challenges with OVA and compared parameters of airway inflammation and remodelling at the end‐point of the prolonged allergen‐induced airway inflammation protocol.

Results
RSV infection did not affect the severity of airway inflammation in any of the groups studied. However, RSV infection provoked airway remodelling in non‐sensitized, allergen‐challenged mice that did not otherwise develop any of the features of allergic airways disease. Increased collagen synthesis in the lung and thickening of the bronchial basal membrane was observed in non‐sensitized allergen‐challenged mice only after prior RSV infection. In addition, fibroblast growth factor (FGF)‐2 but not TGF‐β1 was increased in this group following RSV infection.

Conclusion
Our data show for the first time that RSV infection can prime the lung of mice that are not previously systemically sensitized, to develop airway remodelling in response to allergen upon sole exposure via the airways. Moreover, our results implicate RSV‐induced FGF‐2 in the remodelling process in vivo.
Latex allergy: a model for therapy
Authors: Rolland J. M. , O'Hehir R. E.
Published: May 2008

Allergy to natural rubber latex products emerged as an important clinical condition following an increase in the use of latex gloves for barrier protection in the early 1980s. In addition to latex glove users, other high‐risk groups with different latex exposure include spina bifida patients and others with multiple surgical procedures. Subjects with fruit and vegetable allergy are also at risk due to cross‐reactive allergens. Following the significant advances in the identification and characterization of common aeroallergens, latex allergy was well placed to become an excellent model of therapy. Awareness of latex allergy and modes of sensitization enabled epidemiological studies to inform allergen avoidance initiatives, substantially reducing inadvertent exposure in major hospitals in Western countries. Spina bifida is often identified in utero or soon after birth, allowing vigorous latex allergen avoidance with enhanced efficacy of primary prevention. However, changing demographics of latex allergy and technological revolution in countries such as China and India are predicted to unleash a second wave of latex allergy reemphasizing the incentive for improved manufacturing procedures for latex products. The desirable high tensile strength and elasticity of natural rubber latex have made the commercial identification of good alternatives very difficult but this would also be attractive for primary prevention. In addition, an effective specific immunotherapy regimen would be valuable for selected high‐risk atopic individuals. Current subcutaneous and sublingual immunotherapy schedules have been tested for treatment of latex allergy with evidence of efficacy but the risks of adverse events are high. For such potent allergens as latex, hypoallergenic but T cell‐reactive preparations are required for clinical use. Identification of allergenic components of latex products, with generation of monoclonal antibodies and recombinant allergens, allowed sequence determination and mapping of T cell and B cell epitopes. Together, these reagents and data facilitated improved diagnostics and investigation of novel‐specific therapeutics. Potential hypoallergenic latex preparations identified include modified non‐IgE‐reactive allergen molecules and short T cell epitope peptides. The co‐administration of adjunct therapies such as anti‐IgE or corticosteroids and of appropriate adjuvants for induction of regulatory T cell response offers promise for clinically effective, safe latex‐specific vaccines.
Segmental testicular ischaemia: presentation, management and follow‐up
Authors: Gianfrilli D. , Isidori A. M. , Lenzi A.
Published: May 2008

Segmental infarction of the testis is a rare event. Less than 40 cases have been reported in the literature and its aetiology remains largely unknown. The diagnosis is challenging and its identification crucial as partial ischaemia is frequently confused with testicular tumours and unnecessarily treated with orchiectomy. The objectives of this study are to: (i) raise awareness of this rare condition, (ii) provide the distinctive clinical and radiological features enabling pre‐operative diagnosis, (iii) promote appropriate screening of causative factors and (iv) propose an alternative management approach to avoid surgery and preserve fertility. We describe three cases of partial testicular ischaemia in men presenting with reduced sperm quality. The cases demonstrate the ultrasound and magnetic resonance imaging appearance of testicular ischaemia. The surveillance strategy adopted for these lesions indicates that over 2 years of follow‐up, marginal changes in the lesions can occur. Histology revealed that infiltration by stromal cells, leucocytes and macrophages is responsible for the remodelling of these lesions. Screening of risk factors for thromboembolism revealed that all patients carried a methylenetetrahydrofolate reductase 677C→T (MTHFR) mutation in a gene involved in folate metabolism, and either borderline or elevated homocysteine levels. Distinctive features permit the pre‐operative diagnosis of segmental testicular ischaemia. There are sufficient data to assert that a surveillance strategy is safe and feasible. We speculate that the defects in folate metabolism may pre‐dispose individuals to the development of testicular infarction and infertility.
Genetic differences in internal transcribed spacer 1 between Dermanyssus gallinae from wild birds and domestic chickens
Authors: BRÄNNSTRÖM S. , MORRISON D. A. , MATTSSON J. G. , CHIRICO J.
Published: May 2008

Abstract We investigated the presence of the poultry red mite or the chicken mite, Dermanyssus gallinae De Geer, Acari: Dermanyssidae, in wild bird populations in four different geographical regions of Sweden. The mites identified as D. gallinae were compared genetically with D. gallinae from egg‐producing poultry farms in the same regions. The small subunit (SSU) gene, the 5.8S ribosomal RNA (rRNA) gene and the two internal transcribed spacers (ITS) of the rRNA genes were used in the genetic analysis. All D. gallinae mites had identical SSU rRNA, 5.8S rRNA and ITS2 sequences independent of their origin. By contrast, we identified significant differences in the ITS1 sequences. Based on the differences in the ITS1 sequences, the mites could be divided into two genotypes, of wild and domesticated origin, with no variation within the groups. These results imply that wild bird populations are of low importance, if any, as natural reservoirs of D. gallinae in these four geographical regions of Sweden.
The efficacy of indoor CDC light traps for collecting the sandfly Phlebotomus argentipes, vector of Leishmania donovani
Authors: DINESH D. S. , DAS P. , PICADO A. , DAVIES C. , SPEYBROECK N. , BOELAERT M. , COOSEMANS M.
Published: May 2008

Abstract The efficacy of light traps for collecting sandflies (Diptera: Psychodidae) varies both inter‐specifically and intra‐specifically (by gender and physiological status) as a result of significant differences in phototropic and other behavioural characteristics. The efficacy of miniature CDC light traps for collecting Phlebotomus argentipes Annandale & Brunetti, a vector of Leishmania donovani Laveran & Mesnil (Kinetoplastida: Trypanosomatidae), was assessed in the Indian state of Bihar. Sandflies were collected during the night from 16 houses in each of three villages over 3 months (four times at fortnightly intervals) using CDC light traps indoors, and by aspirator collection (carried out by one person for 30 min/house) from the walls of the same houses the following morning. Incidence rate ratios (IRRs) between CDC light trap collections and aspirator collections were obtained through a negative binomial regression with household as random effect. CDC light traps were especially effective in catching males (IRR 3.08, 95% confidence interval [CI] 2.12–4.46) and unfed females (IRR 3.50, 95% CI 2.37–5.16) of P. argentipes, and to a lesser extent gravids (IRR 1.77, 95% CI 1.07–2.93). However, only a relatively small proportion of all blood‐fed P. argentipes were collected by light trap (IRR 0.45, 95% CI 0.28–0.73). Despite its limitations in collecting blood‐fed female sandflies, the CDC light trap appears to trap a sufficient proportion of the indoor population of sandflies for sampling purposes, and as this light trap is also more convenient and more easily standardized than the aspirator method, we conclude that it is the most efficient method for monitoring P. argentipes populations in the Indian subcontinent.