bluuebunny/crossref_metadata_2025_split huggingface dataset:
The impact of the 2004 bank capital announcement on the Nigerian stock market
Authors: Ayodeji Olowe Rufus 
Published: September 2011

PurposeThis paper aims to investigate the impact of the introduction of the 2004 bank capital requirements on the quoted stock prices on the Nigerian stock market.Design/methodology/approachUsing monthly data over the period January 1986 to December 2006, residual analysis methodology was used to investigate stock price reaction to the 2004 bank capital requirements on the Nigerian stock market.FindingsThe results show that the introduction of the 2004 bank capital requirements has a positive impact on quoted securities on the Nigerian stock market. This is reflected in positive abnormal returns from the Nigerian stock market when trading is based on the information from the 2004 bank capital requirements. The results are unaffected by the choice of model. This lends support for the work of Olowe that the Nigerian stock market is inefficient in the semi‐strong form.Originality/valueThis study provides evidence on the stock price reaction to the introduction of the 2004 bank capital requirements on the Nigerian stock market. The result will have implications for the semi‐strong form efficiency of the Nigerian stock market.
Ultimate ownership, institutions and listed companies' debt financing
Authors: Honghai Yu , Longbing Xu , Baizhu Chen 
Published: September 2011

PurposeThe purpose of this paper is to study the capital structure of firms when controlling shareholders decide on the level of debt financing in an environment with poor legal protection.Design/methodology/approachTheoretically this paper uses a dynamic model to analyze how the controlling shareholder expropriates the firm's benefit through debt financing. Empirically this paper uses a sample of Chinese publicly listed firms from 2004 to 2007, through the method of OLS and panel data, to verify the theoretical predictions.FindingsTheoretically this paper finds that firms with controlling shareholders will take excess debt financing in an environment of controlled interest rate and poor legal protection to minority shareholders. Government intervention exacerbates while controlling shareholder's cash flow rights constrains excess debt financing. The empirical results conclude that the improvement of the legal environment, limiting government intervention, and raising controlling shareholder's cash flow rights will effectively reduce excess debt level, as well as long‐term debt ratio.Originality/valueFirst, this paper provides a theoretical model to explain the mechanism of how the ownership structure, legal environment and government intervention interact to impact debt financing. This result also provides a theory to explain the “paradox” in a transitional economy that better legal protection lowers debt level and long‐term debt ratio. Second, this paper provides further evidence on controlling shareholder's expropriation to minority shareholder through debt financing.
Studying on the monetary transmission mechanism in China in the presence of structural changes
Authors: Fan Yang , Jianzhou Teng 
Published: September 2011

PurposeThis paper aims to study the monetary transmission mechanism of China from January 1996 to December 2009 under endogenous structural breaks.Design/methodology/approachThe study constructs a benchmark VAR model and then adds the proxy variables for four channels of monetary policy transmission as endogenous or exogenous variables in the model to study the transmission mechanism in China. Considering a number of reforms carried out in the economic and financial field in the past two decades and the possibility of structural changes in the monetary transmission mechanism, the methodology proposed by Qu and Perron is employed to allow for endogenous structural changes in the model.FindingsBy conducting a comparative analysis, conclusions can be drawn from this paper that bank lending is always the dominating channel for monetary policy to influence economy in China and the roles of the interest rate channel and the exchange rate channel have been improved in recent years. However, the role of the asset price channel in monetary policy transmission has weakened since late 2001.Originality/valueThis paper combines the quasi‐maximum likelihood procedure proposed by Qu and Perron in 2007 with a benchmark VAR model, thus providing a new approach to study monetary transmission mechanism and the conclusions can be more sensible.
A longitudinal study of substance use and violent victimization in adulthood among a cohort of urban African Americans
Authors: Doherty Elaine Eggleston , Robertson Judith A. , Green Kerry M. , Fothergill Kate E. , Ensminger Margaret E. 
Published: September 2011

ABSTRACTAims  This paper examines the effects of experiencing violent victimization in young adulthood on pathways of substance use from adolescence to mid‐adulthood.Design  Data come from four assessments of an African American community cohort followed longitudinally from age 6 to 42 years.Setting  The cohort lived in the urban, disadvantaged Woodlawn neighborhood of Chicago in 1966.Participants  All first graders from the public and parochial schools were asked to participate (n = 1242).Measurement  Dependent variables—alcohol, marijuana and cocaine use—came from self‐reports at age 42. Young adult violent victimization was reported at age 32, as were acts of violence, substance use, social integration and socio‐economic resources. First grade risk factors came from mothers' and teachers' reports; adolescent substance use was self‐reported.Findings  Structural equation models indicate a pathway from adolescent substance use to young adult violent victimization for females and those who did not grow up in extreme poverty (betas ranging from 0.15 to 0.20, P < 0.05). In turn, experiencing violent victimization in young adulthood increased alcohol, marijuana and cocaine use, yet results varied by gender and early poverty status (betas ranging from 0.12 to 0.15, P < 0.05).Conclusions  Violent victimization appears to play an important role in perpetuating substance use among the African American population. However, within‐group variations are evident, identifying those who are not raised in extreme poverty as the most negatively affected by violence.
Anaphylaxis in Turkish children: a multi‐centre, retrospective, case study
Authors: Orhan F. , Canitez Y. , Bakirtas A. , Yilmaz O. , Boz A. B. , Can D. , Kuyucu S. , Harmanci K. , Tahan F. , Reisli I. , Karakas T. , Baki A. , Cokugras H. , Cakir M. , Yuksel H. 
Published: September 2011

SummaryBackgroundAnaphylaxis is a serious and potentially lethal systemic reaction affecting more than one organ or system.ObjectiveWe aimed to describe the demographic characteristics, clinical features, causes, settings, and administered therapy in Turkish children.MethodsThis retrospective, case note study included all children referred to the outpatient clinics of the Pediatric Allergy Departments of the participating study centres from 1 July 1999 to 30 June 2009 for investigation of anaphylaxis or who were seen by us at the moment of the reaction during the same period and who met the clinical criteria of anaphylaxis.ResultsTwo hundred and twenty‐four cases of anaphylaxis were reported in 137 children (88 boys, P = 0.0001). The mean ± SD age at the referral was 7.7 ± 4.2 years (range: 4 months–17 years). Ninety‐eight episodes (43.8%) occurred at home. The symptoms were cutaneous in 222 (99.1%) episodes, respiratory in 217 (96.9%), neuro‐psychiatric in 118 (52.7%), cardiovascular in 92 (41.1%), and gastrointestinal in 88 (39.3%). Biphasic reaction was reported in seven episodes (3.1%, 95% CI: 1.5–6.3). Death occurred in one case (0.4%, 95% CI: 0.08–2.4). Treatment was available in 158 episodes (70.5%). Of them, 148 (93.7%) received antihistamines, 132 (83.5%) corticosteroids, 51 (32.3%) epinephrine, and 17 (10.8%) beta‐2‐mimetics. The causative agents were foods in 86 (38.4%) episodes, hymenoptera venom in 84 (37.5%), drugs and medications in 47 (21.0%), and latex in 5 (2.2%). In two episodes (0.9%), the causative agent was unidentified. Allergy to the trigger was known prior to anaphylaxis in 116 (51.8%) episodes. An epinephrine auto‐injector had been prescribed for 70 children (51.1%).Conclusions and Clinical RelevanceAnaphylaxis was seen significantly more in boys. Most of the reactions occurred at home. Foods were the most frequent cause. Epinephrine, the first‐line treatment of anaphylaxis, was administered in only a third of the children.
Patch testing: what allergists should know
Authors: White J. M. L. 
Published: September 2011

SummaryPatch testing is a standardized, in vivo diagnostic test for type IV hypersensitivity reactions, resulting in allergic contact dermatitis, which clinically resembles eczema. Common allergens include fragrance chemicals, hair dyes, metals, rubber accelerators and preservatives. Known allergens at particular concentrations in optimal vehicles are tested on the upper back under occlusion for 2 days. Readings according to international criteria are usually performed on days 2 and 4. Irritant reactions can closely resemble allergic ones, and further tests may be necessary to discriminate. Interpretation of the relevance of the reactions can also be difficult, perhaps requiring repeated open application testing, work‐site visits etc. Monitoring of trends in patch test positivity can be effective in primary prevention of type IV allergy.
Estimating probabilities of active brucellosis infection in Yellowstone bison through quantitative serology and tissue culture
Authors: Treanor John J. , Geremia Chris , Crowley Philip H. , Cox John J. , White Patrick J. , Wallen Rick L. , Blanton Douglas W. 
Published: September 2011

Summary1. Disease management along the boundaries of wildlife reserves is a growing conservation problem worldwide, as infected wildlife can migrate outside protected areas and pose a threat to livestock and human health. The bison Bison bison population in Yellowstone National Park has long been infected with Brucella abortus, but culling of Yellowstone bison to prevent transmission to cattle has been ineffective at reducing brucellosis infection. This management strategy is negatively affecting long‐term bison conservation because of difficulties in diagnosing actively infected animals.2. We integrated age‐specific serology and B. abortus culture results from slaughtered Yellowstone bison to estimate probabilities of active brucellosis infection using a Bayesian framework. Infection probabilities were associated with age in young bison (0–5 years old) and with elevated antibody levels in older bison (>5 years old). Our results indicate that Yellowstone bison acquire B. abortus infection early in life but typically recover as they grow older.3. A tool was developed to allow bison management to better reflect the probability that particular animals are infective, with the aim of conserving Yellowstone bison while reducing the risk of brucellosis transmission to cattle. Combining selective removal of infectious bison with additional management practices, such as vaccination, has the potential to advance an effective brucellosis reduction programme.4. Synthesis and applications. We conclude that active B. abortus infection in Yellowstone bison is age dependent, which allows true infection probabilities to be estimated based on age and quantitative diagnostic tests. These findings have important application to disease management worldwide where accurate diagnostic tests for wildlife are unavailable. Estimation of true infection probabilities can replace culling practices that conflict with wildlife conservation. The ability to identify infective individuals can improve management practices that support conservation, particularly when human health is at risk or endangered wildlife species are involved.
Staff concerns in heroin‐assisted treatment centres
Authors: DEMARET I. , LEMAÎTRE A. , ANSSEAU M. 
Published: September 2011

Accessible summary
For some heron addicts, heroin‐assisted treatment is more efficacious than methadone treatment.
Seven European countries have implemented outpatient centres where patients self‐administer pharmaceutical heroin under close supervision.
Nurses deliver pharmaceutical heroin and supervise administration. The two main concerns are overdosing and smuggling.
Nurses are convinced of the utility of this treatment for severe heroin addicts.
AbstractHeroin‐assisted treatment (HAT) is a solution for improving the condition of treatment‐resistant heroin addicts. Since 1994, six randomized controlled trials have concluded that HAT is more efficacious than oral methadone for severe heroin addicts. We visited seven HAT treatment centres in four countries in order to observe diacetylmorphine (DAM) administration and to study the main concerns of the staff. Nurses were concerned by the risk taken if a previously intoxicated patient received his dose of DAM. Another concern was the smuggling of DAM doses. The HAT centres face a dilemma: treating patients while at the same time allowing their risky street habits in the centre.
Multiple drug hypersensitivity: normal Treg cell function but enhanced in vivo activation of drug‐specific T cells
Authors: Daubner B. , Groux‐Keller M. , Hausmann O. V. , Kawabata T. , Naisbitt D. J. , Park B. K. , Wendland T. , Lerch M. , Pichler W. J. 
Published: September 2011

To cite this article: Daubner B, Groux‐Keller M, Hausmann OV, Kawabata T, Naisbitt DJ, Park BK, Wendland T, Lerch M, Pichler WJ. Multiple drug hypersensitivity: normal Treg cell function but enhanced in vivo activation of drug‐specific T cells. Allergy 2012; 67: 58–66.AbstractBackground:  Up to 10% of patients with severe immune‐mediated drug hypersensitivity reactions have tendencies to develop multiple drug hypersensitivities (MDH). The reason why certain individuals develop MDH and the underlying pathomechanism are unclear. We investigated different T cell subpopulations in MDH patients and compared them with patients allergic to a single drug and with healthy controls (HC).Methods:  We analyzed the in vitro reactivity of peripheral blood mononuclear cells from MDH patients (n = 7), patients with hypersensitivity to a single drug (monoallergic, n = 6), and healthy controls (HD) (n = 6) to various drugs (mainly antibiotics and antiepileptics). By depleting and selectively re‐adding CD4+ CD25bright T cells (T regulatory cells, Treg), their effect on drug‐specific T cell reactivity was analyzed. The phenotype of reacting T cells was determined ex vivo by staining for markers of activation (CD38) and cell exhaustion (PD‐1).Results:  No functional deficiency of Treg cells was observed in all drug‐allergic patients. Drug‐reactive T cells from MDH patients were found in the CD4+ CD25dim T cell fraction and showed enhanced CD38 and PD‐1 expression, while those from monoallergic patients reside in the resting CD4+ CD25neg T cell fraction.Conclusion:  In patients with MDH, the drug‐reactive T cells are contained in an in vivo pre‐activated T cell fraction. Therefore, they may show a lower threshold for activation by drugs. The reason for this in vivo T cell pre‐activation needs further investigations.
Importance of carbohydrate sources to the reproductive output of the wheat armywormPseudaletia sequax
Authors: Marchioro Cesar A. , Foerster Luís A. 
Published: September 2011

The importance of nutrients consumed by adults differs among lepidopteran species. Knowledge of adult nutritional requirements is particularly useful when adopting biological control strategies that involve the use of flowering plants to improve the effectiveness of natural enemies. This is because nectar may also serve as a carbohydrate source for the pest.We evaluated the effect of different sources and concentrations of carbohydrate consumed by adults on the performance and fitness of the wheat armywormPseudaletia sequaxFranclemont, which is an important pest of cereal crops.The consumption of carbohydrates by the adults significantly increased the length of the oviposition period, fecundity, fertility and longevity ofP. sequax. Adult nutrition also affected the daily oviposition pattern of the females.The demographic parameters estimated for each diet regime (i.e. intrinsic rate of increase, finite rate of increase and net reproductive rate) were influenced by adult nutrition. These parameters also varied according to the source and concentration of carbohydrates.The results obtained in the present study suggest that the use of perennial flowering plants to provide a food source for natural enemies can also favour the pest.
‘My Brilliant Career’? New Organizational Forms and Changing Managerial Careers in Japan, the UK, and USA
Authors: Hassard John , Morris Jonathan , McCann Leo 
Published: September 2011

abstractThe end of the traditional management career has been heralded with supporting, albeit largely anecdotal, data. The ‘old’ career was set within internal labour markets in large organizations and characterized by long‐term stability. The ‘new’ arrangements have apparently shifted responsibility from employer to employee, with careers being developed across organizations. Such change is premised on new organizational forms and is often associated with a growing sense of employee insecurity. We explore the reality of this ‘new’ scenario through interpretation of in‐depth semi‐structured interviews conducted with middle and senior human resources managers in large firms in Japan, the UK, and USA. The data indicate that most of our case study organizations had downsized and delayered, with hybrid structural forms emerging. Career prospects were diminished, with fewer vertical promotions and a greater emphasis on lateral ‘development’; middle managers were generally resentful of such factors and forces. Although not directly reflective of ‘Anglo‐American’ business practice, similar changes to career trajectories were witnessed in Japan as in the UK and USA.
In Search of Attention
Authors: DA ZHI , ENGELBERG JOSEPH , GAO PENGJIE 
Published: September 2011

ABSTRACTWe propose a new and direct measure of investor attention using search frequency in Google (Search Volume Index (SVI)). In a sample of Russell 3000 stocks from 2004 to 2008, we find that SVI (1) is correlated with but different from existing proxies of investor attention; (2) captures investor attention in a more timely fashion and (3) likely measures the attention of retail investors. An increase in SVI predicts higher stock prices in the next 2 weeks and an eventual price reversal within the year. It also contributes to the large first‐day return and long‐run underperformance of IPO stocks.
Free Cash Flow, Issuance Costs, and Stock Prices
Authors: DÉCAMPS JEAN‐PAUL , MARIOTTI THOMAS , ROCHET JEAN‐CHARLES , VILLENEUVE STÉPHANE 
Published: September 2011

ABSTRACTWe develop a dynamic model of a firm facing agency costs of free cash flow and external financing costs, and derive an explicit solution for the firm's optimal balance sheet dynamics. Financial frictions affect issuance and dividend policies, the value of cash holdings, and the dynamics of stock prices. The model predicts that the marginal value of cash varies negatively with the stock price, and positively with the volatility of the stock price. This yields novel insights on the asymmetric volatility phenomenon, on risk management policies, and on how business cycles and agency costs affect the volatility of stock returns.
A Unified Theory of Tobin's q, Corporate Investment, Financing, and Risk Management
Authors: BOLTON PATRICK , CHEN HUI , WANG NENG 
Published: September 2011

ABSTRACTWe propose a model of dynamic investment, financing, and risk management for financially constrained firms. The model highlights the central importance of the endogenous marginal value of liquidity (cash and credit line) for corporate decisions. Our three main results are: (1) investment depends on the ratio of marginal q to the marginal value of liquidity, and the relation between investment and marginal q changes with the marginal source of funding; (2) optimal external financing and payout are characterized by an endogenous double‐barrier policy for the firm's cash‐capital ratio; and (3) liquidity management and derivatives hedging are complementary risk management tools.
The Real and Financial Implications of Corporate Hedging
Authors: CAMPELLO MURILLO , LIN CHEN , MA YUE , ZOU HONG 
Published: September 2011

ABSTRACTWe study the implications of hedging for corporate financing and investment. We do so using an extensive, hand‐collected data set on corporate hedging activities. Hedging can lower the odds of negative realizations, thereby reducing the expected costs of financial distress. In theory, this should ease a firm's access to credit. Using a tax‐based instrumental variable approach, we show that hedgers pay lower interest spreads and are less likely to have capital expenditure restrictions in their loan agreements. These favorable financing terms, in turn, allow hedgers to invest more. Our tests characterize two exact channels—cost of borrowing and investment restrictions—through which hedging affects corporate outcomes. The analysis shows that hedging has a first‐order effect on firm financing and investment, and provides new insights into how hedging affects corporate value. More broadly, our study contributes novel evidence on the real consequences of financial contracting.
The effect of non‐steroidal anti‐inflammatory drugs on the endothelial function of patients with osteoarthritis in short term
Authors: SOLMAZ Dilek , SARI Ismail , CAN Gercek , AKAR Servet , CEYLAN Isin , SECIL Mustafa , AKKOC Nurullah 
Published: September 2011

AbstractObjective:  Our primary aim was to test whether non‐steroid anti‐inflammatory drug (NSAID) use may account for endothelial dysfunction (ED) in the acute period. Additionally, we also aimed to compare the effect of diclofenac and naproxen on endothelial function.Methods:  Forty patients with osteoarthritis (OA) were included in the study. Subjects currently receiving NSAIDs were asked to discontinue their anti‐inflammatory medications (for at least 5 days) before the study. After the wash‐out period, all subjects underwent vascular ultrasound measurements. Following baseline vascular imaging, patients were randomly assigned in a 1 : 1 ratio to receive either diclofenac (75 mg twice daily, n = 20), or naproxen (500 mg twice daily, n = 20) for 7 days. Endothelial function was evaluated by using the flow‐mediated dilatation (FMD) method, at baseline, and after 1 week of NSAID treatment.Results:  There were 40 OA patients (4 male, 36 female). The median age of the patients was 60 ± 14 years. There were equal numbers of subjects in each treatment group. Age, sex distribution, body mass index, serum lipids, erythrocyte sedimentation rate, C‐reactive protein and fasting glucose levels were similar between the diclofenac and naproxen groups (P > 0.05). The brachial artery diameter (BAD), endothelium‐dependent vasodilatation (FMD%) and nitroglycerin‐induced endothelium‐independent vasodilatation (NTG%) values were not different between pretreatment and on the seventh day in the NSAID treatment groups (P > 0.05). Subgroup analysis also showed similar values of BAD, FMD%, and NTG% between naproxen and diclofenac groups (P > 0.05).Conclusion:  Our results suggest that nonselective cyclo‐oxygenase antagonists naproxen and diclofenac have no effect on endothelial function during short‐term use.