bluuebunny/crossref_metadata_2025_split huggingface dataset:
The Accuracy and Bias of Equity Values Inferred from Analysts' Earnings Forecasts
Authors: Sougiannis Theodore , Yaekura Takashi 
Published: January 2017

We evaluate the extent to which unbiased and accurate estimates of equity value can be derived from three multiperiod accounting-based valuation models using consensus analysts' earnings forecasts over a four-year horizon. The models are (1) the earnings capitalization model, (2) the residual income model without a terminal value, and (3) the residual income model with a terminal value that assumes residual income will grow beyond the horizon at a constant rate determined from the expected residual income growth rate over the forecast horizon. Our analysis is based on valuation errors that are calculated by comparing estimated prices to actual prices. We find that, on average, analysts' earnings forecasts convey information about value beyond that conveyed by current earnings, book values, and dividends. Each of the models that we used has valuation errors that decline monotonically as the horizon increases, implying that earnings forecasts at each horizon convey new value relevant information. We cannot find a clear advantage to using firm specific growth rates instead of a constant rate of 4 percent across all sample firms. In addition, only 17 percent of the imputed growth rates could be used in terminal value calculations. The residual income model with a terminal value shows the best performance on average, but it values more accurately only 48 percent of our sample firms. The earnings capitalization model and the residual income model without a terminal calculation value more accurately 18 percent and 13 percent of the sample firms, respectively. The remaining 21 percent of firms are more accurately valued using only reported current earnings and book values of equity. Thus, different models are appropriate for different firms. The conditions under which given models work best relate to ex-ante growth indicators such as the current book-to-market, earnings-to-price, the present value of the expected residual income over the forecast horizon, the growth rate in expected earnings, and firm size, but not to industry membership. In all models estimated prices are, on average, downward biased and inaccurate and they explain at best 70 percent of the variation in market prices. We examined the quality of the earnings forecasts and the quality of the GAAP earnings as two possible reasons for the biased and inaccurate results. Our tests provide evidence consistent with both of these reasons. Thus, we conclude that the poor model performance is due to information missing from the forecasts and to the practice of conservative accounting.
The Influence of Segregation of Duties on Internal Control Judgments
Authors: Srinidhi Bin 
Published: January 2017

Auditors make judgments based on their assessment of internal control strengths and weaknesses. Auditing practice and research have recognized that the segregation of duties plays an important role in this assessment process. However, research on how the segregation of duties affects auditors' judgments has been limited because of the wide variety of duty segregation patterns possible in accounting systems. This paper identifies a scheme for classifying duty combinations and measures its effectiveness. Auditors' judgments in both the presence and the absence of various duty combinations were recorded in a controlled laboratory environment. The responses were then analyzed both directly and after classification according to the scheme. A comparison of the classified responses to the unclassified responses is used to measure the effectiveness of the classification scheme.
The Accuracy of Financial Analysts' Forecasts after Mergers
Authors: Haw In-Mu , Jung Kooyul , Ruland William 
Published: January 2017

This paper examines forecasts developed by financial analysts before and after mergers. The study finds that forecast accuracy decreases sharply after mergers. These accuracy reductions tend to be more pronounced when financial leverage changes, when the merger does not provide earnings or industry diversification, when the purchase method of accounting is used to record the transaction, when capital intensity changes, and when the size of the target corporation is large compared to the size of the acquiring corporation. The data also show that reductions in forecast accuracy after mergers tend to be temporary. Accuracy returns to approximately the premerger level within four years after the merger. The study also finds that overprediction bias increases sharply in the year immediately following the merger. This increase in over-prediction bias, however, is also temporary. Overprediction bias returns to approximately the premerger level within the four-year postmerger study period.
Testing Compression Bandages
Authors: Tennant W.G. , Park K.G.M. , Ruckley C.V. 
Published: January 2017

Compression bandaging is the mainstay of the treatment of chronic venous leg ulcers. Using the Borgnis Medical Stocking Tester, six bandages in common use; (Blue Line, J-Press, Medirip, Elastocrepe, Crepe, and Elastoplast), were studied for the pressures attained, and the ability to sustain pressure. Each bandage was applied 10 times by one of two observers using a standard technique. Pressure measurements were taken hourly for 4h. The pressure exerted by Crepe fell by 63%, and that exerted by Elastoplast fell by 40% over the 4-h test period. Medirip and Blue Line gave the best sustained support. Bandages available on the UK drug tariff are in the main unsatisfactory for the treatment of chronic venous disease.
Inflammation-Related Factors in Haemorrhoids
Authors: Limasset B. , Michel F. , Rey R. , Guarrigues G. , Paulet A. Crastes De 
Published: January 2017

Objective: To establish whether eicosanoid production characterizes the inflammatory processes of the haemorrhoidal plexus. Design: Open, single patient group study. Setting: Private practice. Patients: Fourteen patients selected for haemorrhoidectomy. Interventions: Specimens were obtained during either the acute (five patients, group I) or chronic (nine patients, group II) phase of the disease. We assayed the concentrations of prostaglandins E2 (PGE2) and F2α (PGF2α) and of leukotriene B4 (LTB4) in the vascular and mucosal tissues of the anterior and posterior haemorrhoidal plexus. Results: Very high levels of prostaglandins were recorded (up to 1445 <g/g fresh tissue of PGE2 in group I), which were consistently higher in group II than group I ( p <0.05, Wilcoxon distribution free test) for 10 out of 18 parameters measured. Four to 20 times more PGE2 than PGF2α was produced. These two eicosanoids were strongly correlated (0.73–0.93 according to sample). LTB4 production was up to 20 times lower than that of PGE2 (6–10 ng/g, group II; 17–52 ng/g, group I). Conclusions: PGF2α and LTB4 seem to be valuable independent study parameters to be included in the design of protocols investigating the action of anti-inflammatory agents on haemorrhoids.
Double Blind Placebo Controlled Evaluation of Clinical Activity and Safety of Dation 500 mg in the Treatment of Acute Haemorrhoids
Authors: Cospite M. 
Published: January 2017

Objective: Efficacy of treatment of acute haemorrhoidal crisis by Daflon 500 mg (D500) in comparison to a placebo (Pl). Design: Prospective, double blind, placebo controlled trial with randomization into two parallel groups. Setting: In- and outpatients at a University Hospital. Patients: One hundred patients with a history of haemorrhoidal disease, suffering from an acute haemorrhoidal attack. Interventions: Administration of Daflon 500 mg or placebo at a dose of three tablets b.i.d. for the first 4 days and two tablets b.i.d. for the following 3 days. Main outcome measures: Improvement of symptoms and signs measured by a score and patient acceptability. Results: Overall improvements of symptoms was greater in the D500 group than in the Pl group, from day 2 up to day 7. The clinical severity of proctorrhagia, anal discomfort, pain and anal discharge diminished in both groups, but to a greater extent in the D500 group ( p <0.001). Inflammation, congestion, oedema and prolapse were more markedly improved in the D500 group than in the Pl group. Duration and severity of the current haemorrhoidal episode, as assessed by patient self-evaluation, were less important in the D500 group compared with previous episodes. Use of analgesics and topical medications diminished in both groups, with a major reduction in the D500 group from day 4 ( p <0.001). Acceptability was good in both groups: no patient experienced major side-effects. Conclusion: Treatment with D500 resulted in a quicker and more pronounced relief of signs and symptoms of acute haemorrhoids than with the placebo.
Late Sequelae of Acute Deep Venous Thrombosis: Evaluation Five and Ten Years after
Authors: Saarinen J. , Sisto T. , Laurikka J. , Salenius J-P. , Tarkka M. 
Published: January 2017

Objective: To study the sequelae of an acute deep venous thrombosis (DVT) 5 or 10 years afterwards. Design: A retrospective questionnaire study involving 70 patients with DVT, verified by phlebography 5 and 10 years earlier. Setting: Tampere University Hospital, Finland. Patients: Seventy out of 86 patients who had suffered a definite DVT answered a questionnaire on subjective symptoms and visits to health care organizations. Interventions: All 70 patients were treated initially with heparin and warfarin after the DVT was diagnosed. Main outcome measures: The frequency of late symptoms in the leg with DVT. The relation of the site of the acute DVT to late sequelae. Results: The frequency of asymptomatic patients was only 13%. Typical symptoms were evening pain, oedema and pigmentation. There were no differences between calf DVTs and more proximal DVTs in respect of the late symptoms. All patients with recurrent DVT were symptomatic. Conclusions: The late sequelae of DVT are common and necessitate a considerable number of visits to health care centres. Calf DVTs seem to cause late symptoms as often as more proximal DVTs.
Deficiencies in Leg Ulcer Care: A National Survey in Scotland
Authors: Armstrong S. H. , Ruckley C. V. , Prescott R. J. , Dale J. J. , Nelson E. A. 
Published: January 2017

Objective: To identify what specialist expertise and services are currently available, in Scotland, to support general practitioners (GPs) and community nurses in the management of leg ulcer patients and the perceived need for the improvement of the service. Design: Postal questionnaires to randomly selected samples of GPs and community nurses. Setting: All 15 Scottish Health Board areas. Subjects: Six hundred and seventy-three GPs and 441 community nurses were questioned. Results: Five hundred and twelve (76%) GPs replied. Barely half, 285 (56%), expressed satisfaction with the service and only 155 (30%) had access to a recognized leg ulcer specialist. GPs who had access to a specialist expressed a greater level of satisfaction with the leg ulcer service than those without a local specialist. Community nurse questionnaire: Three hundred and sixty (82%) nurses replied. Two hundred and forty six (68%) indicated that the diagnosis of the cause of ulceration was usually made by both the GP and the nurse but the choice of treatment was most often made by the nurse alone. The great majority (69%) did not have access to a local leg ulcer clinic and only 34 (9%) indicated that they had access to management protocols, almost 90% of nurses expressing a need for protocols. Both questionnaires revealed a lack of specialist support, dedicated leg ulcer clinics, better education and training, and leg ulcer management protocols. Conclusion: Serious deficiencies in the support available for community care of leg ulcer patients have been identified. The situation requires to be remedied if more cost-effective outcomes for leg ulcer patients are to be achieved.
Changes in Microcirculation in Patients with Atrophie Blanche Visualized by Laser Doppler Perfusion Imaging and Transcutaneous Oxygen Measurements
Authors: Maessen-Visch M. B. , Sommer A. , De Paepe J. A. , Neumann H. A. M. 
Published: January 2017

Objective: To quantify differences in microcirculation in atrophie blanche (AB) in patients with chronic venous insufficiency (CVI) and in healthy controls before and after venous occlusion. Design: Prospective study in a single patient group. Setting: Department of Dermatology, University Hospital Maastricht, The Netherlands. Patients and methods: Sixteen patients with CVI and large lesions of AB, 10 patients with CVI without AB and 10 healthy controls were enrolled in the study. Laser Doppler perfusion imaging (LDPI) measurements were performed in and outside large lesions of AB and in healthy controls. Transcutaneous oxygen (Tc Po2) measurements were performed in patients with CVI with and without AB and in healthy controls. Results: Median basal resting flow was higher in AB than in healthy controls (0.67 mV versus 0.21 mV, p = 0.002). The venoarteriolar response (VAR was increased significantly in AB (58% versus 43%, p = 0.04). A significant decrease in Tc Po2 values occurred in AB lesions with 40 mmHg, in CVI skin with 60 mmHg and in healthy controls with 80 mmHg. Conclusion: Basic resting flux in AB measured with LDPI is increased compared with clinically normal skin. The decrease in flux on venous occlusion is larger in AB than in healthy controls.
Capillary Filtration Rate, before and after Stripping of the Greater Saphenous Vein, Measured with Air-Plethysmography
Authors: van Geest A. J. , Veraart J. C. J. M. , Kitslaar P. J. E. H. M. , Neumann H. A. M. 
Published: January 2017

Objective: To investigate whether there is a decrease in the capillary filtration rate after stripping of the greater saphenous vein, measured by air-plethysmography. Design: Prospective study. Setting: Academic Hospital Maastricht, The Netherlands. Patients: Fourteen lower limbs of 10 patients in which duplex ultrasound demonstrated insufficiency of the sapheno-femoral junction and of the greater saphenous vein, before operation. Interventions: Stripping of the greater saphenous vein. Main outcome measures: Capillary filtration rate before and 6 weeks after stripping of the greater saphenous vein, measured by air-plethysmography. Results: The capillary filtration rate after stripping of the greater saphenous vein had decreased in 12 legs and increased in two legs. The mean capillary filtration rate before operation was 6.58 ml/min (SD 1.97). Six weeks after stripping of the greater saphenous vein the mean capillary filtration rate was 5.54 ml/min (SD 1.22). These values have a level of significance of p < 0.01. Conclusion: The significant decrease of the capillary filtration rate, 6 weeks after stripping of the greater saphenous vein, measured with air-plethysmography, signifies an improvement in the microcirculation, related to the filtration function of the capillaries.
Cellulitis in Venous Leg Ulcers Treated with a Hydrocolloid Dressing
Authors: Westh H. , Warburg F. E. , Madsen S. M. , Larsen S. O. , Danielsen L. 
Published: January 2017

Objective: To evaluate the development of cellulitis in patients with venous leg ulcers in relation to colonizing or infecting microorganisms and principles of ulcer dressing. Design: Patients were prospectively randomized to either a routine leg ulcer dressing principle or hydrocolloid dressing (HCD). Setting: Tertiary care university hospital. Patients: Fifty-seven consecutive patients followed for at least 6 months. Main outcome measures: Development of cellulitis related to isolation of microorganisms and the ulcer dressing principle. Results: Development of cellulitis was only correlated to the isolation of haemolytic streptococci, predominantly belonging to Lancefield group G (2 p < 0.01). Staphylococcus aureus and Pseudomonas aeruginosa did not contribute to the development of cellulitis. One infection per 198 days was found in patients treated with HCD compared with one infection per 290 days in patients treated with chlorhexidine ointment with a vehicle of carbowax polyethylene glycol (not statistically different). Conclusions: Hydrocolloid dressing treatment was safe. Cellulitis was caused by haemolytic streptococci.
Leucocyte Rheology at Baseline and after Activation in Post-Phlebitic Syndrome
Authors: Caimi G. , Canino B. , Ferrara F. , Montana M. , Presti R. Lo 
Published: January 2017

Objective: To evaluate leucocyte rheology, expressed as leucocyte filtration, polymorphonuclear leucocyte (PMN) membrane fluidity and cytosolic Ca2+ concentration in subjects with post-phlebitic leg syndrome (PPS). Methods: In 22 subjects with PPS we determined leucocyte filtration [unfractionated, mononuclear (MN) and PMN cells], employing the St George Filtrometer, PMN membrane fluidity using the fluorescent probe 1-[4-(trimethylamino)phenyl]-6-phenyl-1,3,5-hexatriene (TMA-DPH) and PMN cytosolic Ca2+ concentration using the fluorescent probe Fura 2-AM. Subsequently we determined the same PMN parameters after in vitro activation with 4-phorbol 12-myristate 13-acetate (PMA) and N-formyl-methionyl-leucyl-phenylalanine (fMLP). Results: At baseline we observed a difference in the filtration parameters of unfractionated and MN cells and an increase in PMN cytosolic Ca2+ concentration. After activation, a significant variation in PMN filtration parameters was evident both in normals and in PPS subjects, although in subjects with PPS this variation, especially with PMA, was significantly greater. We found a decrease in PMN membrane fluidity and an increase in PMN cytosolic Ca2+ concentration only in subjects with PPS. Conclusion: These results suggest that there is a functional alteration of systemic leucocytes in PPS, in which the mechanisms are not yet clear.
Haemorheological Proælein Chronic Venous Insufæciency
Authors: Azaceta G. , Romero S. , Lorente C. , Moreno J. A. , Olave T. , Vaquerizo A. , Azcona M. , Gutiérrez M. 
Published: January 2017

Background: In recent years, pathophysiological studies and treatment approaches of chronic venous insufficiency (CVI) have focused on haemorheology. Objective: To analyse erythrocyte aggregation (EA) and blood viscosity (BV) in mild and severe stages of CVI. Methods: In 147 patients (three severity stages), EA was measured with a photometric aggregometer, and BV with a cone-plate viscosimeter. Patients with concomitant pathologies affecting haemorheology were excluded. Results: EA was higher in patients (mean EA 10M: 16.4 vs 14.5 control), increasing progressively with the evolution of CVI ( p<0.001). Greatest differences were found for stage III (mean EA 10M: 17.6) vs stage II (15.7) and stage 0 (14.5) respectively ( p<0.001), but rheological abnormalities exist in early grades (I: 16.7) ( p<0.01). Fibrinogen and age had a strong influence on EA ( p<0.003 and p<0.001 respectively). When a covariance analysis avoided their effect, significant global differences between CVI groups persisted. BV at high shear rate was increased at advanced stages (III: mean 3.3 centipoise (cp); I: 3.1 cp) ( p<0.05). Conclusions: We found progressive impairment of the haemorheological profile with the worsening stages of CVI, related to age, severity stage and fibrinogen. Rheological impairment is likely to play a part in the pathophysiology of CVI, and perhaps may be useful in its management.
Pregnancy, Oral Contraception, Hormone Replacement Therapy and the Occurrence of Varicose Veins: Edinburgh Vein Study
Authors: Lee A. J. , Evans C. J. , Hau C. M. , Allan P. L. , Fowkes F. G. R. 
Published: January 2017

Objective: To determine the relationship between varicose veins and duration of menstrual life, age of menopause, pregnancy, oral contraceptive use and hormone replacement therapy (HRT). Design: Cross-sectional study. Setting: City of Edinburgh, UK. Participants: Eight hundred and sixty-seven women aged 18–64 years randomly selected from 12 general practices. Methods: After completing a questionnaire, which included questions on reproductive history, the women underwent a comprehensive clinical examination including the assessment of varicose veins (trunk, hyphenweb and reticular varices), followed by duplex scanning of their legs. Results: Women who had been pregnant at least once were more likely to have minor hyphenweb or reticular varices than women who had never been pregnant ( p ≤ 0.05). Women aged 35–54 years who were current users or ex-users of the oral contraceptive pill had a lower prevalence of trunk varicose veins than women who had never taken the pill ( p ≤ 0.10). HRT was also associated with a lower prevalence of trunk varices ( p ≤ 0.05). Conclusions: These results suggest that alterations in the balance of the sex hormones may have a role in the aetiology of varicose veins.
PET imaging of cannabinoid type 2 receptors with [11C]A-836339 did not evidence changes following neuroinflammation in rats
Authors: Pottier Geraldine , Gómez-Vallejo Vanessa , Padro Daniel , Boisgard Raphaël , Dollé Frédéric , Llop Jordi , Winkeler Alexandra , Martín Abraham 
Published: January 2017

Cannabinoid type 2 receptors (CB2R) have emerged as promising targets for the diagnosis and therapy of brain pathologies. However, no suitable radiotracers for accurate CB2R mapping have been found to date, limiting the investigation of the CB2 receptor expression using positron emission tomography (PET) imaging. In this work, we report the evaluation of the in vivo expression of CB2R with [11C]A-836339 PET after cerebral ischemia and in two rat models of neuroinflammation, first by intrastriatal LPS and then by AMPA injection. PET images and in vitro autoradiography showed a lack of specific [11C]A-836339 uptake in these animal models demonstrating the limitation of this radiotracer to image CB2 receptor under neuroinflammatory conditions. Further, using immunohistochemistry, the CB2 receptor displayed a modest expression increase after cerebral ischemia, LPS and AMPA models. Finally, [18F]DPA-714-PET and immunohistochemistry demonstrated decreased neuroinflammation by a selective CB2R agonist, JWH133. Taken together, these findings suggest that [11C]A-836339 is not a suitable radiotracer to monitor in vivo CB2R expression by using PET imaging. Future studies will have to investigate alternative radiotracers that could provide an accurate binding to CB2 receptors following brain inflammation.