bluuebunny/crossref_metadata_2025_split huggingface dataset:
Testing Lower Boundary Conditions for Index Options Using Futures Prices: Evidences from the Indian Options Market
Authors: Dixit Alok , Yadav Surendra S , Jain P K 
Published: January 2017

Options are the contracts which serve as a tool for risk hedging, price discovery, and better allocation of capital. The efficiency of an options market, i.e., the correctness of option prices denotes that it is working well at its well-identified functions (Ackert and Tian, 2000). In view of this, the efficiency of options market has been of equal interest to the academics as well as practitioners and a number of studies on efficiency of options market have been carried out across the globe in different options markets. The present paper attempts to assess the pricing efficiency of the S&P CNX Nifty index options in India by testing the Lower Boundary Conditions (LBCs) using futures prices instead of spot values. The methodology adopted essentially tests a joint market efficiency hypothesis of index options and index futures. This has been done in view of the fact that the use of futures markets helps in doing away with the short-selling constraint as futures can easily be shorted. And, it becomes a natural choice for analysis as the short-selling has been banned in the Indian securities market during the period under reference. Moreover, the use of futures markets, to a marked extent, helps in ensuring the exploitability of arbitrage opportunities when underlying asset is an index. The study covers a period of six years from June 4, 2001 (starting date for index options in India) to June 30, 2007. The major findings of the study are: The put options market is more efficient than the call options market, given the existing market microstructure in India during the period under reference. Another equally important finding is that the put options market showed an improvement in the pricing efficiency over the years whereas the call options market demonstrated a counterintuitive and adverse development. However, the profit potential offered by highly traded opportunities both in the cases of call and put options seems to be unexploitable in the presence of transaction costs. Moreover, the dearth of liquidity in the case of otherwise exploitable opportunities which carry higher profit potentials has been the main inhibiting factor to arbitrageurs. Therefore, in short, it is reasonable to conclude that majority of violations in call as well as put options could not be exploited on account of the existing market-microstructure in India during the period under reference (especially short-selling constraint that caused underpricing in futures to persist) and the dearth of liquidity in the options market. In other words, the revealed state of options pricing can be designated to the short-selling constraints and dearth of liquidity.
Tunneling vs Agency Effect: A Case Study of Enron and Satyam
Authors: Shirur Srinivas 
Published: January 2017

This is a comparative study of Enron and Satyam corporate frauds. An attempt has been made to arrive at some generalizations about the key reasons for the differences between agency and tunneling problems. Agency effect and tunneling phenomena focus on the divergence in the interests of managers, promoters, and minority shareholders, which are the key reasons for corporate fraud. There is a clear difference between the fraud committed due to tunneling and agency effect. The article highlights this feature through the case study of Enron and Satyam. The difference between tunneling and agency effect has important implications for corporate finance. Corporate finance is based on the assumptions of separation of ownership and management and also perpectual continuity of corporation. If these two assumptions are dropped, then many of the widely accepted theories may not hold. The article concludes that the legal framework, nature of financial system, and level of economic development are the key factors which determine the level of agency effect and tunneling problem. Solutions to corporate governance problems are quite different in India as compared to the US or Europe. Hence, it would be inappropriate to copy American legislations like Sarbanes Oxley Act in India. Effective prevention of destructive self-dealing activities is necessary for development of vibrant capital market, whereby small investors will be confident to invest in the Indian market, since they will perceive risk premium to be low. The key policy prescriptions are as follows: Effective delivery of justice is as important as enacting investor-friendly laws. Creation of subsidiary companies by the parent company and large financial transactions with banks should be viewed with suspicion. On the part of the shareholders, they should be suspicious of any self-dealing transactions. Since the time of Harshad Mehta, when stock brokers, promoters of the company, and bankers connived to cheat small investors, enforcement agencies view even large banking transactions with suspicion. Small investors and institutional investors should play a proactive role to seek information and reject any decisions which reduce their value of shares. Proactive participation of outside shareholders in the corporate affairs of the company, especially in the selection of board of directors and approval of resolutions, are the key remedies to prevent such cases. There should be an effective control of black money. Certain clues like promoters setting up too many subsidiaries, frequent changes and resignations in board of directors, consistent decrease in promoter stake or increasing liquidation of equity options, are clear signs of fraud taking place. Regulatory authorities should work on such clues and operate in such a way that there is least chance of regulatory arbitrage.
Examining PCB-Outcomes Relationship: Moderating Role of Individualism
Authors: Agarwal Upasna A 
Published: January 2017

In the current climate of continuing economic uncertainty caused by major developed nations struggling with high-debt and sub-par growth, employee goodwill, motivation, and cooperation are fragile yet critical for organizational success. These attitudes and behaviours can be powerfully influenced by the fulfillment of psychological contracts. Psychological Contract is a useful framework for examining the quality of employeeorganization relationship. Psychological Contract Breach (PCB), defined as the cognition that one's organization has failed to meet one or more obligations within one's psychological contract in a manner commensurate with one's contributions, has deleterious effects of employee motivation. Despite the growing amount of research about psychological contracting, a review of studies on PCB indicates that there are deficiencies in the literature which need to be addressed. Firstly, limited efforts have been made to examine the effects of individual dispositions on PCB. Secondly, although trust has been examined as an essential condition for establishment of social exchange, there is paucity of research on the effect of PCB on trust. Thirdly, there have been fairly good number of studies examining the effects of breach. However, these studies seem to have been stuck in terms of examining only specific group of outcome variables. Further, much of the published research on PCB has been experienced by a single cohort of MBA graduates making generalization of findings for more diverse sample populations difficult. Finally, much of our current knowledge about PCB is based on the studies conducted in the West. Since different national cultures display varied cultural elements in the workplace, drawing parallels from studies conducted in other collectivistic cultures will not be appropriate. This work is significant for four reasons: It examines the effect of PCB on trust and work engagement It examines the mediating role of trust in PCB-engagement relationship It tests the moderating role of individualism and collectivism value orientation It examines PCB in a novel geographical context. Results of this study with 501 Indian managerial employees working in eight organizations in India suggest that: PCB is related to trust and work engagement. Trust mediates the PCB-engagement relationship. Individualism⁄Collectivism moderates the PCB-trust relationship.
High Intensity Low Frequency Sound Used for Cleaning Purposes
Authors: Sandström Roland , Olsson Mats 
Published: January 2017

Low frequency sound has been used for the continous cleaning of boilers and also for cleaning museum textiles. New methods are presently being developed for other types of cleaning. For the cleaning of industrial boilers a powerful 20 Hz infrasound generator (sold under the tradename Infrafone) has been developed. The maximum acoustic power output is in the region of 1000 W. The Infrafone consists of an exigator and a quarter wave resonance tube. It operates on air from a blower and the infasound is generated by the exigator pulsating the air into the resonance tube. When the Infrafone is adapted to a cavity (i.e. the economizer of a boiler, the air preheater or any other part of the boiler) the dimensions of which are smaller or in the same range as the wave length of the infrasound, an almost homogeneous infrasonic pressure is established in all parts of the cavity. The sound pressure level inside a boiler depends on the area of the chamber walls and the acoustic power emitted from the generator. At an infrasonic pressure level of 130 dB – 135 dB (depending on operational conditions) most soots are sufficiently activated not to deposit on tubes and walls. The infrasound even has the capacity to break the bonds between particles and metallic surfaces, thus preventing the particles from adhering to heat exchanging surfaces. Up to the present some four hundred Infrafones have been installed in different types of boilers. As well as oil-fired boilers these include boilers fixed by coal, bark, garbage, peat and black liquor. For the removal of insecticides from museum textiles a 50 Hz sound is used. The sound is generated by a loud speaker adapted to a Helmholtz resonator. The textiles are placed in the resonator and within five minutes about 98 per cent of the insecticide is removed. The sound pressure level is in the region of 140 dB.
Adsorptive and Membrane-Type Separations: A Bibliographical Update (1996)
Authors: Ray Martyn S. 
Published: January 2017

This paper provides a bibliography of the 1996 journal literature for adsorptive and membrane-type separations. The references are taken from the 50 most important chemical engineering journals. This paper provides an update to the literature as provided in previous bibliographic papers (Ray 1990, 1991, 1994, 1995, 1996a,b). A complete bibliographic listing of the chemical engineering journal literature from 1989 to 1996 (with subsequent six-monthly updates) is available on a CD-ROM database and full details can be obtained from the author. The papers included here have been divided into the following subject groups: theory; design data; adsorbents; PSA and cyclic systems, and applications; liquid-phase adsorption; ion exchange, chromatography, etc.; membranes; and membrane-type separations.
Adsorption Equilibrium of 1, 1-Dichloro-1-fluoroethane (HCFC-141b) on a Hydrophobic Zeolite
Authors: Tsai Wen-Tien , Chang Ching-Yuan , Ho Chih-Yin 
Published: January 2017

Of the major replacements for chlorofluorocarbons (CFCs), hydrochlorofluorocarbons (HCFCs) are now accepted as being prime contributors to stratospheric ozone depletion. As a consequence, the development of adsorbents capable of adsorbing and recovering specific HCFCs has received great attention. This paper describes an investigation of the adsorption equilibrium of 1, 1-dichloro-1-fluoroethane (HCFC-141b) vapour on a commercial hydrophobic zeolite. The corresponding Henry, Freundlich and Dubinin–Radushkevich (D–R) equilibrium isotherms have been determined and found to correlate well with the experimental data. Based on the Henry adsorption isotherms obtained at 283, 303 and 313 K. thermodynamic properties such as the enthalpy, free energy and entropy of adsorption have been computed for the adsorption of HCFC-141b vapour on the adsorbent. The results obtained could be useful in the application of HCFC adsorption on the hydrophobic zeolite studied.
Mechanistic Study of the Effect of Sulphur Dioxide and Nitrogen Dioxide Exposure of ASC/T, Whetlerised BPL and Whetlerised Chlorinated BPL Activated Carbons on the Chemisorption of Hydrogen Cyanide from Air
Authors: Keaney A. , Alder J.F. 
Published: January 2017

Three activated carbons, ASC/T, Whetlerised BPL and Whetlerised chlorinated BPL (BPL/C) (4.5 %w/w chlorine/carbon) were tested extensively on their adsorption behaviour towards HCN in air, before and after exposure to SO2 and NO2 in air at pressures from 2 to 500 mbar. Whetlerite impregnation solutions of carefully controlled compositions were made up to treat the BPL and BPL/C. ASC/T and the resulting Whetlerised carbons BPL/W and BPL/WC were examined. Nitrogen isotherm data were obtained for these carbons before and after exposure to SO2 and NO2. The carbons were also analysed by ICP-AES and AAS for total Cr, and by alkaline extraction then spectrophotometric analysis using diphenylcarbazide reagent, for the determination of CrVI. The ASC/T, BPL/W and BPL/WC were challenged by 2 mg/l HCN in air at 22°C/80% relative humidity (RH) before and after exposure to SO2 and NO2. Surface area, microporous volume N2 adsorption energy and pore size distribution data were obtained for the range of carbons from the nitrogen isotherms. Adsorption rate constants, adsorption capacity and adsorption site densities for HCN and (CN)2 were obtained. Analysis of the results for all three carbons shows that the principal effects of SO2 and NO2 are in reducing the fraction of Cr as CrVI and in blocking the micropore adsorption sites for HCN and (CN)2. There is little obvious correlation between SO2 or NO2 loading and the N2 adsorption rate constants and N2 adsorption energies. There is an overall reduction in microporous area and volume on exposure of ASC/T to both SO2 and, to a lesser but still marked degree, to NO2. The biggest reduction is in the fraction of pores <5 Å radius. It is thought that the reduction in breakthrough time and the related adsorption capacity for HCN and (CN)2 is due to chemical reduction of the CrVI by SO2 on the carbons giving sulphate or sul-phuric acid species, both blocking the microporous structure and reducing the ability of CrVI to oxidise the copper cyanide complexes to oxamide. Analogous mechanisms are proposed to explain the lesser but nonetheless marked effect of NO2 exposure. These findings are consistent with earlier work in the authors' laboratory and that reported elsewhere.
Sorption Properties of the Natural, K and Partially Deammoniated (H/NH4) Forms of Clinoptilolite
Authors: Kasture M.W. , Joshi P.N. , Sorti H.S. , Joshi V.V. , Choudhari A.L. , Shiralkar V.P. 
Published: January 2017

A sample collected from the Aurangabad District, Maharashtra, India was characterized by XRD, IR, TG and DTA methods, and by chemical analysis, as a calcium-rich clinoptilolite. Two different methods involving exchange with KOH or NH4Cl led to the formation of K-clinoptilolite (K-Clino) and H/NH4-clinoptilolite (H/NH4-Clino). Water sorption studies were carried out on the parent clinoptilolite (P-Clino), K-Clino and H/NH4-Clino at five different temperatures in the range 303–423 K. Different adsorption models were applied to the data obtained from such sorption studies. Thermodynamic parameters such as the chemical potential were also computed from the sorption data and their significance is discussed.
Costs of formal and informal care in the last year of life for patients in receipt of specialist palliative care
Authors: Brick Aoife , Smith Samantha , Normand Charles , O’Hara Sinéad , Droog Elsa , Tyrrell Ella , Cunningham Nathan , Johnston Bridget 
Published: January 2017

Background: Economic evaluation of palliative care has been slow to develop and the evidence base remains small. Aim: This article estimates formal and informal care costs in the last year of life for a sample of patients who received specialist palliative care in three different areas in Ireland. Design: Formal care costs are calculated for community, specialist palliative care, acute hospital and other services. Where possible, a bottom-up approach is used, multiplying service utilisation by unit cost. Informal care is valued at the replacement cost of care. Setting/participants: Data on utilisation were collected during 215 ‘after death’ telephone interviews with a person centrally involved in the care in the last year of life of decedents who received specialist palliative care in three areas in Ireland with varying levels of specialist palliative care. Results: Mean total formal and informal costs in the last year of life do not vary significantly across the three areas. The components of formal costs, however, do vary across areas, particularly for hospital and specialist palliative care in the last 3 months of life. Conclusion: Costs in the last year of life for patients in receipt of specialist palliative care are considerable. Where inpatient hospice care is available, there are potential savings in hospital costs to offset specialist palliative care inpatient costs. Informal care accounts for a high proportion of costs during the last year of life in each area, underlining the important role of informal caregivers in palliative care.
Magnetic resonance arthrography results that indicate surgical treatment for partial articular-sided supraspinatus tendon avulsion: a retrospective study in a tertiary center
Authors: Hahn Seok , Lee Young Han , Chun Yong-Min , Park Eun Hae , Suh Jin-Suck 
Published: January 2017

Background Specific findings on magnetic resonance arthrography (MRA) that indicate the need for surgery in patients with partial articular-sided supraspinatus tendon avulsion (PASTA) are not well understood. Purpose To determine which MRA findings are characteristic of patients who undergo surgery for PASTA. Material and Methods From July 2011 to February 2014, MRA findings for patients treated for PASTA were retrospectively reviewed. The patients were divided into two groups: conservative treatment and surgical repair. MRA findings were compared between the groups. The following MRA results were assessed: length grade, width grade, co-existing superior labrum anterior posterior (SLAP) lesions, degenerative changes in the glenohumeral joint, presence of subacromial-subdeltoid bursitis, acromion type, presence of adhesive capsulitis, and tears of the subscapularis or infraspinatus tendon within the rotator cuff. Logistic regression analyses were conducted to identify which MRA findings were significantly associated with surgical treatment. Results Forty-five surgically treated patients and 203 conservatively treated ones were evaluated. The MRA findings showed significant differences between the groups with respect to length grade, width grade, degenerative changes in glenohumeral joint, bursitis, and co-existing rotator cuff tears ( P < 0.05). Multivariate logistic regression showed correlations between surgical repair and both grade 3 length tears (odds ratio, 30.8) and co-existing tears of the subscapularis or infraspinatus tendon (odds ratio, 2.9). Conclusion Surgical treatment is commonly performed in PASTA patients whose lesion lengths are grade 3 or who have co-existing tears in the subscapularis or infraspinatus tendon. Radiologists should pay attention to these MRA signs when evaluating PASTA patients.
Intravoxel incoherent motion (IVIM) analysis of vertebral bone marrow changes after radiation exposure from diagnostic imaging and interventional procedures
Authors: Yoon Min A , Hong Suk-Joo , Lee Chang Hee , Kang Chang Ho , Ahn Kyung-Sik , Kim Baek Hyun 
Published: January 2017

Background High cumulative radiation dose in cancer patients warrants systemic examination of possible changes in bone marrow. Purpose To assess retrospectively changes in vertebral bone marrow diffusion and perfusion using intravoxel incoherent motion diffusion-weighted imaging (IVIM-DWI) in hepatocellular carcinoma (HCC) patients after exposure to radiation from diagnostic imaging and interventional procedures. Material and Methods A total of 21 IVIM-DWI sets in 20 HCC patients, consisting of baseline and follow-up liver magnetic resonance imaging (MRI) with an interval less than 100 days, were reviewed after varying levels of radiation exposure from transarterial chemoembolization (TACE), multiphase liver CT, and abdominal radiography. IVIM parameters (apparent diffusion coefficient [ADC], true diffusion coefficient [D], pseudodiffusion coefficient [D*], and perfusion fraction [PF]) of vertebral bone marrow were analyzed for significant differences between baseline and follow-up MRI using Wilcoxon signed-rank test, and for correlations with cumulative effective dose, as well as time interval between last radiation exposure and follow-up MRI using Spearman’s correlation. Results Compared to baseline MRI, ADC, D*, and PF significantly decreased on follow-up MRI (ADC: median [interquartile range], 0.405 × 103 mm2/s [0.364–0.477] versus 0.390 [0.348–0.461]; D*: 24.011 [18.141–29.584] versus 20.815 [15.022–28.347]; PF: 10.960% [8.828–12.985] versus 9.125 [8.606–12.803]) ( P < 0.05). There was no significant difference in D ( P = 0.807). Cumulative effective dose was moderately correlated with decrease in D* (r = 0.434). In addition, longer intervals between last exposure and follow-up MRI showed negative correlations with changes in D and ADC (r = −0.352 and −0.333, respectively). Conclusion Vertebral bone marrow diffusion and perfusion parameters were significantly changed after exposure to medical radiation.
Intermittent levosimendan infusions in advanced heart failure: a real world experience
Authors: Ortis Benedetta , Villani Alessandra , Oldani Matteo , Giglio Alessia , Ciambellotti Francesca , Facchini Mario , Parati Gianfranco , Malfatto Gabriella 
Published: January 2017

Objective To analyse the effects of levosimendan infusions in advanced heart failure. Methods Patients with advanced heart failure treated with repeated levosimendan infusions were retrospectively compared with controls. Clinical, blood and echocardiographic parameters were obtained at baseline and after 12 months, and before and after each levosimendan infusion. Hospitalizations for heart failure and in-hospital length of stay in the 6 months before enrolment and after 6 and 12 months were recorded, along with 1-year mortality. Results Twenty-five patients treated with levosimendan and 25 controls were studied. After each levosimendan infusion, ventricular function and various clinical and metabolic parameters were improved. After 12 months, left ventricular ejection fraction (LVEF) had improved compared with baseline in the levosimendan group. The 1-year mortality rate was similar in both groups. During the 6 months before enrolment, hospitalizations were fewer in controls compared with the levosimendan group; after 6 and 12 months they increased in controls and decreased in the levosimendan group. Seven patients were super-responders to levosimendan, with LVEF improving more than 20% and hospitalizations being reduced at 12 months compared with the rest of the levosimendan group. Conclusion Intermittent levosimendan improved LVEF and decreased hospitalizations in advanced heart failure and represents a therapeutic option for patients whose disease is worsening.