bluuebunny/crossref_metadata_2025_split huggingface dataset:
Long memory volatility in Asian stock markets
Authors: Duppati Geeta , Kumar Anoop S. , Scrimgeour Frank , Li Leon 
Published: July 2017

PurposeThe purpose of this paper is to assess to what extent intraday data can explain and predict long-term memory.Design/methodology/approachThis article analysed the presence of long-memory volatility in five Asian equity indices, namely, SENSEX, CNIA, NIKKEI225, KO11 and FTSTI, using five-min intraday return series from 05 January 2015 to 06 August 2015 using two approaches, i.e. conditional volatility and realized volatility, for forecasting long-term memory. It employs conditional-generalized autoregressive conditional heteroscedasticity (GARCH), i.e. autoregressive fractionally integrated moving average (ARFIMA)-FIGARCH model and ARFIMA-asymmetric power autoregressive conditional heteroscedasticity (APARCH) models, and unconditional volatility realized volatility using autoregressive integrated moving average (ARIMA) and ARFIMA in-sample forecasting models to estimate the persistence of the long-term memory.FindingsGiven the GARCH framework, the ARFIMA-APARCH long-memory model gave the better forecast results signifying the importance of accounting for asymmetric information when modelling volatility in a financial market. Using the unconditional realized volatility results from the Singapore and Indian markets, the ARIMA model outperforms the ARFIMA model in terms of forecast performance and provides reasonable forecasts.Practical implicationsThe issue of long memory has important implications for the theory and practice of finance. It is well-known that accurate volatility forecasts are important in a variety of settings including option and other derivatives pricing, portfolio and risk management.Social implicationsIt could be said that using long-memory augmented models would give better results to investors so that they could analyse the market trends in returns and volatility in a more accurate manner and reach at an informed decision. This is useful to minimize the risks.Originality/valueThis research enhances the literature by estimating the influence of intraday variables on daily volatility. This is one of very few studies that uses conditional GARCH framework models and unconditional realized volatility estimates for forecasting long-term memory. The authors find that the methods complement each other.
The association of earnings quality with corporate performance
Authors: Ma Shiguang , Ma Liangbo 
Published: July 2017

Purpose
The aim of this paper is to investigate the association of earnings quality with corporate performance of publicly listed firms of China and tries to provide a new explanation. Poor earnings quality is normally characterized by unhealthy profitability and/or untrue financial information, which leads to a misallocation of capital and low corporate performance. The largest emerging economy of China has experienced a fast and fluctuant growth, while the companies have been thought of low earnings quality.

Design/methodology/approach
Initial univariate and multivariate analyses are conducted using four earnings quality measures and either accounting-based corporate performance or market-based corporate performance. Further analyses apply unmanaged earnings, earnings-increase management and financially distressed firms.

Findings
The authors find that low earnings quality is associated with high corporate performance for the Chinese publicly listed firm in their sample period. Further evidence shows that earnings management is only a contributor to the negative relationship, not its main driver. They argue that the negative association of earnings quality with corporate performance is a phenomenon of a new emerging market within an economy booming period, particularly in China.

Research limitations/implications
The results and argument of this paper may not totally follow the traditional literature. But they provide a new research question that requires further studies.

Originality/value
In theoretical discussion, this paper partitions earnings quality into two components: One results from reporting accuracy and the other results from firm’s operating outcome. In empirical analyses, this paper examines both accounting-based performance and market-based performance, and both managed earnings and unmanaged earnings.
Ownership structure, corporate governance and investment efficiency of Chinese listed firms
Authors: Chen Naiwei , Sung Hao-Chang , Yang Jingjing 
Published: July 2017

Purpose
This paper aims to examine whether and how ownership structure and corporate governance have bearings on the investment efficiency of Chinese listed firms.

Design/methodology/approach
The authors measure the investment efficiency by following the work of Richardson (2006) and classify listed firms into two categories: state-owned enterprises (SOEs) and private firms. OLS regressions with both industry and year fixed effects are used to investigate the effect of ownership structure and governance mechanisms on the listed firms’ investment efficiency.

Findings
The authors find that ownership concentration has a negative impact on investment efficiency, and this effect is more pronounced in SOEs than in private firms. In addition, adoption of incentive-based compensation helps improve investment efficiency. Compared with other types of institutional investors, mutual funds are more likely to exert a positive effect on the investment efficiency of investee companies.

Originality/value
This paper examines the monitoring effect of governance mechanisms in China from a new perspective, which is the investment efficiency. Furthermore, previous studies provide minimal evidence indicating any effect of incentive-based compensation on firm performance in China. This study provides empirical evidence on this effect by using incentive-based compensation (whether CEOs have been granted stock options) as an explanatory variable in the regression models.
Exchange rate risk and the bilateral trade between Malaysia and Singapore
Authors: Aftab Muhammad , Rehman Ijaz Ur 
Published: July 2017

PurposeThis paper aims to examine the influence of exchange rate risk on the bilateral trade of two closely connected East Asian open economies – Malaysia and Singapore – at industry level.Design/methodology/approachThis study estimates import and export demand models considering 65 import and 65 export industries of Malaysia, with Singapore using monthly data over the period 2000-2014. Generalized Auto Regressive Conditional Heteroskedasticity (GARCH) model is used to measure the exchange rate risk, and autoregressive distributed lag (ARDL) approach to co-integration is used to examine the study empirical models.FindingsThe findings suggest that exchange risk has an impact on a moderate number of industries in the short run; however, this influence endures in very few industries in the long run. It is interesting to note that exchange rate volatility expedites import demand for the large Malaysian import industries like gas and plastic.Originality/valueNo prior study has explored the topic at industry level focusing on the bilateral trade flows between Malaysia and Singapore. This research serves important implications while thinking about exchange rate risk and trade linkage in a case of open economies trade pairs that are highly integrated in presence of a variety of bilateral trade agreements and economic groupings.
Plasma lipids affect dabigatran etexilate anticoagulation in rats with unbalanced diabetes mellitus
Authors: Scridon Alina , Perian Marcel , MĂrginean Alina , Huţanu Adina , Gherţescu Doina , Vântu Adriana , FişcĂ Paul C. , Chevalier Philippe , Şerban Răzvan C. , Dobreanu Dan 
Published: July 2017

AbstractBackgroundDabigatran etexilate (DE) has similar stroke prevention efficacy in patients with and without diabetes mellitus (DM). However, the benefit of reducing major bleeding was not seen in diabetics. Thus, this study investigated anticoagulant responses to DE and the biological predictors of this response in a DM model.MethodsExperiments were performed in six control (C), eight DE‐treated control (CD), five diabetic (D), and eight DE‐treated diabetic (DD) rats. Dabigatran etexilate (50 mg/kg/day) was administered in chow for 12 weeks. At the end of the study, plasma glucose, triglycerides, total cholesterol (TC), high‐density lipoprotein cholesterol, low‐density lipoprotein cholesterol (LDL‐C), and plasma creatinine were measured. Correlations were ascertained with the diluted thrombin time (dTT).ResultsWhen corrected for similar DE intake, dTT was significantly higher in DD than CD rats (P < 0.001). There was a significant negative correlation between creatinine clearance (CCr) and dTT (r = −0.91, P < 0.01) in DD rats. In addition, dTT was positively correlated with TC (r = 0.96, P < 0.01), LDL‐C (r = 0.75, P = 0.04), and glucose (r = 0.83, P = 0.02). In multiple regression analysis, CCr (r = −0.81, P = 0.01), TC (r = 0.93, P < 0.001), and LDL‐C (r = 0.74, P < 0.01) remained the only independent predictors of dTT.ConclusionsThe results show a significantly more intense DE‐induced anticoagulation in diabetic rats that does not seem to be solely related to altered kidney function, and demonstrate that plasma cholesterol can significantly affect DE anticoagulation in this setting.
Factors related to retinal haemorrhage in infants born at high risk
Authors: Pu Qinglan , Li Ping , Jiang Huiqin , Wang Hong , Zhou Qiaoyun , Liu Jia , Zhong Wenhua , Huang Huafei 
Published: July 2017

AbstractPurposeThis study aims to determine risk factors for retinal haemorrhage (RH) in high‐risk infants.MethodsA total of 3123 cases with high‐risk pregnancy and/or neonatal asphyxia 72 hr after delivery were enrolled into this study. Fundus examinations were performed on newborns utilizing a wide‐angle imaging system (RetCam III). Retinal haemorrhage (RH) was classified into three grades. Maternal, obstetric and neonatal parameters from high‐risk infants with RH were compared with parameters from infants without RH.ResultsRetinal haemorrhage (RH) was found in 550 (18%) of 3123 high‐risk infants. Retinal haemorrhage (RH) was classified as grade I (39%), grade II (24%) and grade III (37%). Monocular RH occurred in 37% of cases, while the remaining cases were binocular. Moreover, six cases had vitreous haemorrhage. The following parameters correlated (p < 0.05) with RH in this study: delivery mode (χ2 = 469), gestational age (χ2 = 35), birth weight (χ2 = 18), asphyxia (χ2 = 73), scalp hematoma (χ2 = 55), maternal age (χ2 = 8.9), precipitate labour (χ2 = 120) and delivery times (χ2 = 6.1). Logistic regression analysis indicated that delivery mode and asphyxia were risk factors for RH in high‐risk infants, with odds ratios of 0.827 and 2.5, respectively. Gender, intracranial haemorrhage and foetal distress were not correlated with RH in high‐risk infants.ConclusionThe incidence of RH in high‐risk infants was 18%, and delivery mode, and neonatal asphyxia were major risk factors for RH in high‐risk infants.
Lean mass explains the association between muscular fitness and bone outcomes in 13‐year‐old boys
Authors: Ubago‐Guisado Esther , Vlachopoulos Dimitris , Ferreira de Moraes Augusto César , Torres‐Costoso Ana , Wilkinson Kelly , Metcalf Brad , Sánchez‐Sánchez Javier , Gallardo Leonor , Gracia‐Marco Luis 
Published: July 2017

AbstractAimThis study investigated the associations between fitness indices and bone outcomes in young males.MethodsData were collected between autumn and winter 2014–2015 on 121 males with a mean age of 13.1 ± 0.1 years: 41 swimmers, 37 footballers, 29 cyclists and 14 nonathletes. Participants were recruited from athletic clubs and schools across South West England. Lean mass, areal bone mineral density and hip structural estimates were measured using dual‐energy X‐ray absorptiometry. The relationships between bone outcomes and the vertical jump, standing long jump and the 20‐m shuttle run test were analysed using three regression models: model 1 was adjusted by age and stature, model 2 added vigorous physical activity and model 3 then added lean mass.ResultsThe boys’ performance in the vertical jump and standing long jump was positively associated with the majority of bone outcomes in models 1 and 2, but most of these disappeared in model 3. The 20‐m shuttle run test was positively associated with most bone outcomes in all three models. Lean mass played a key role in the association between muscular fitness and bone outcomes.ConclusionVigorous physical activity did not explain the associations between fitness and bone outcomes, but lean mass did.
Young children with severe congenital malformations (VACTERL) expressed mixed feelings about their condition and worries about needles and anaesthesia
Authors: Kassa A‐M , Engvall G , Engstrand Lilja H 
Published: July 2017

AbstractAimOur knowledge of the perceptions that children with severe congenital malformations have of their health, treatment and how to improve hospital care is limited. This study focused on patients with vertebral defects, anal atresia, cardiac defects, tracheo‐oesophageal fistula, renal anomalies and limb abnormalities (VACTERL).MethodsWe interviewed 10 children aged five to eight years with VACTERL association who were treated in a Swedish tertiary paediatric surgical centre, using a computer‐assisted technique called In My Shoes. The interviews were analysed by qualitative content analysis.ResultsThe children described their awareness of their health history and said they felt proud but different due to their physical dysfunction. They were happy to visit the hospital to meet familiar staff, but expressed negative feelings about missing normal life. They were afraid of needle‐related procedures and not wakening up after anaesthesia. Various ways of coping with difficult situations were expressed, and suggestions to improve hospital care were voiced.ConclusionCareful follow‐up of these children by multidisciplinary teams is crucial to optimise their health and functional status. Fear of medical procedures may be reduced by carefully delivered information, listening to the children, providing continuity of care and creating individual care strategies.
On the Reliability of N-mixture Models for Count Data
Authors: Barker Richard J. , Schofield Matthew R. , Link William A. , Sauer John R. 
Published: July 2017

Summary
N-mixture models describe count data replicated in time and across sites in terms of abundance N and detectability p. They are popular because they allow inference about N while controlling for factors that influence p without the need for marking animals. Using a capture–recapture perspective, we show that the loss of information that results from not marking animals is critical, making reliable statistical modeling of N and p problematic using just count data. One cannot reliably fit a model in which the detection probabilities are distinct among repeat visits as this model is overspecified. This makes uncontrolled variation in p problematic. By counter example, we show that even if p is constant after adjusting for covariate effects (the “constant p” assumption) scientifically plausible alternative models in which N (or its expectation) is non-identifiable or does not even exist as a parameter, lead to data that are practically indistinguishable from data generated under an N-mixture model. This is particularly the case for sparse data as is commonly seen in applications. We conclude that under the constant p assumption reliable inference is only possible for relative abundance in the absence of questionable and/or untestable assumptions or with better quality data than seen in typical applications. Relative abundance models for counts can be readily fitted using Poisson regression in standard software such as R and are sufficiently flexible to allow controlling for p through the use covariates while simultaneously modeling variation in relative abundance. If users require estimates of absolute abundance, they should collect auxiliary data that help with estimation of p.
Realized trophic niche driven by apparent competition: an example with marsupials
Authors: Kuhnen Vanessa V. , de Aguiar Marcus A. Martinez , Gonçalves Ana Z. , Setz Eleonore Z. F. 
Published: July 2017

AbstractAccording to apparent competition theory, the co‐occurrence of two species that share the same predators appears to affect each other's population growth and abundance. However, due to habitat loss and over‐hunting, top predators are being made rare worldwide. Considering that apparent competitors share similar resources, we would expect the absence of top predators to reflect in changes on prey realized trophic niches. To test our hypothesis, we developed a model to predict the abundance ratio of apparent competitor species based on changes in their realized trophic niches. We tested our model against field data on the Neotropical marsupials Didelphis aurita and Metachirus nudicaudatus. Our results revealed that D. aurita and M. nudicaudatus are two species under apparent competition and their realized trophic niche and diet overlap change according to the presence of top predators. The model was able to predict the actual relative abundances of D. aurita and M. nudicaudatus in the three empirical studies analyzed. Our study presents quantitative support to the apparent competition theory; however, the model's applications to other groups still need to be verified. Additionally, our study shows that the lack of top predators has consequences on the realized trophic niche of their prey, and therefore, we reinforce that conservation plans need to focus on the effects of top predator loss on ecosystems.
SIX3 deletions and incomplete penetrance in families affected by holoprosencephaly
Authors: Stokes Bethany , Berger Seth I. , Hall Beth A. , Weiss Karin , Martinez Ariel F. , Hadley Donald W. , Murdock David R. , Ramanathan Subhadra , Clark Robin D. , Roessler Erich , Kruszka Paul , Muenke Maximilian 
Published: July 2017

AbstractHoloprosencephaly (HPE) is failure of the forebrain to divide completely during embryogenesis. Incomplete penetrance has not been reported previously in SIX3 whole gene deletions, which are known to cause HPE. Both chromosomal microarray and whole exome sequencing (WES) were used to evaluate families with inherited HPE. Two families showed inherited deletions that contain SIX3 and were incompletely penetrant for HPE. Using WES, we ruled out parental mosaicism, a SIX3 hypomorph, and clinically significant variants in genes that are known to interact with SIX3 as causes of incomplete penetrance. We demonstrate the importance of molecular cascade testing in families with HPE and we answer important questions about incomplete penetrance.
Corporate governance indices and construct validity
Authors: Black Bernard , de Carvalho Antonio Gledson , Khanna Vikramaditya , Kim Woochan , Yurtoglu Burcin 
Published: July 2017

AbstractManuscript TypeConceptual and empirical.Research Question/IssueMany studies of firm‐level corporate governance rely on aggregate “indices” to measure underlying, unobserved governance. But we are not confident that we know how to build these indices. Often we are unsure both as to what is “good” governance, and how one can proxy for this vague concept using observable measures. We conduct an exploratory analysis of how researchers can address the “construct validity” of firm‐level governance indices, which poses a major challenge to all studies that rely on these indices.Research Findings/InsightsWe assess the construct validity of governance indices for four major emerging markets (Brazil, India, Korea, and Turkey), developed in prior work. In that work, we built country‐specific indices, using country‐specific governance elements that reflect local norms, institutions, and data availability, and showed that these indices predict firm market value in each country. The use of country‐specific indices puts great stress on the construct validity challenge of assessing how well a governance measure matches the underlying concept. We address here how well these four country‐specific indices, and subindices for aspects of governance such as board structure or disclosure, coherently measure unobserved, underlying actual governance.Theoretical/Academic ImplicationsWe provide guidance on how researchers can address the construct validity of corporate governance indices.Practitioner/Policy ImplicationsThe uncertain construct validity of most corporate governance indices suggests caution in relying on research using these indices as a basis for firm‐level governance changes, or country‐level legal reforms.
Assessing the variability of colour‐rendering indices using a random test‐colour method
Authors: Pardo Pedro J. , Suero María I. , Perez Ángel L. , Mena Jairo , Melgosa Manuel 
Published: July 2017

This paper addresses the way in which the random selection of different sets of samples influences the values of two colour‐rendering indices analogous to the ones proposed by the International Commission on Illumination (CIE Publ. 13.3, 1995), Ra, and the Illuminating Engineering Society (IES Technical Memorandum TM‐30‐15, 2015), Rf. We report results found for 11 light sources, representative of current indoor and outdoor lighting, using a database with 12 123 spectral reflectance factors from real objects. For these 11 light sources, the differences between official Ra and Rf values and those computed using 100 iterations with 6000 random samples from our database proved to be in the range [−13, 2] and [−15, −1], respectively, the highest differences corresponding to sources with narrow peaks in their spectral power distributions. For 100 random subsets of 10 samples from our database, the average standard deviations of the 11 light sources for indices analogous to Ra and Rf were 8 and 5 (or 2 and 1 using 110 samples) respectively. The standard deviations in computed Ra and Rf values, using subsets with different numbers of samples n, can be modelled as inversely proportional to the square root of n. We propose a method to estimate these standard deviations for n = 6000 using reduced sets of 10 spectral reflectance factors.
Chronic coffee consumption and respiratory disease: A systematic review
Authors: Alfaro Tiago M. , Monteiro Rita A. , Cunha Rodrigo A. , Cordeiro Carlos Robalo 
Published: July 2017

AbstractPurposeThe widespread consumption of coffee means that any biological effects from its use can lead to significant public health consequences. Chronic pulmonary diseases are extremely prevalent and responsible for one of every six deaths on a global level.MethodsMajor medical databases for studies reporting on the effects of coffee or caffeine consumption on a wide range of non‐malignant respiratory outcomes, including incidence, prevalence, evolution or severity of respiratory disease in adults were searched. Studies on lung function and respiratory mortality were also considered.ResultsFifteen studies, including seven cohort, six cross‐sectional, one case control and one randomized control trial were found. Coffee consumption was generally associated with a reduction in prevalence of asthma. The association of coffee with natural honey was an effective treatment for persistent post‐infectious cough. One case‐control study found higher risk of chronic obstructive pulmonary disease (COPD) with coffee consumption. No association was found with the evolution of COPD or sarcoidosis. Coffee was associated with a reduction in respiratory mortality, and one study found improved lung function in coffee consumers. Smoking was a significant confounder in most studies.ConclusionsCoffee consumption was associated with some positive effects on the respiratory system. There was however limited available evidence, mostly from cross sectional and retrospective studies. The only prospective cohort studies were those reporting on respiratory mortality. These results suggest that coffee consumption may be a part of a healthy lifestyle leading to reduced respiratory morbidity.