bluuebunny/crossref_metadata_2025_split huggingface dataset:
ApaI, BsmI, FokI and TaqI polymorphisms in the vitamin D receptor (VDR) gene and the risk of psoriasis: a meta‐analysis
Authors: Liu J.L. , Zhang S.Q. , Zeng H.M. 
Published: April 2012

AbstractObjectives To determine whether ApaI, BsmI, FokI or TaqI polymorphisms in vitamin D receptor (VDR) gene confer susceptibility to psoriasis.Methods All related association studies published before January 2012 were retrieved and eligible ones were included in our meta‐analysis. For each of the four polymorphisms, we explored the significance of the associations for the allele contrast as well as the recessive and dominant models in overall samples, Caucasians and East Asians. Heterogeneity was identified by sensitivity analysis and publication bias was examined by funnel plot and Egger’s test.Results 12 studies that met our selection criteria were included. For ApaI polymorphism, the dominant model for allele a in Caucasians produced a significant result [heterogeneity χ2 = 3.46, P = 0.177, I2 = 42.2%; ORfixed‐effect model = 1.398 (1.011–1.934), z = 2.03, P = 0.043]. While in East Asians, pooling analysis under any genetic model acquired no‐significant result. Significant heterogeneity was identified among East Asian studies and a Korean study accounted mostly for the heterogeneity detected. The heterogeneities were no longer statistically significant after removing this study, and the results of re‐analyses in remaining studies have not been affected. Regarding TaqI polymorphism, the allele contrast discovered significant association between allele T and psoriasis susceptibility in Caucasians [heterogeneity χ2 = 4.35, P = 0.226, I2 = 31.1%; ORfixed‐effect model = 1.287 (1.067–1.551), z = 2.64, P = 0.008]. As for the BsmI and FokI polymorphisms, allele contrast, recessive and dominant models produced non‐significant results in either Caucasians or East Asians. The funnel plots and Egger’s tests found no publication bias presenting in the studies analyzed.Conclusions This meta‐analysis showed that ApaI, TaqI polymorphisms in VDR gene correlate with psoriasis in Caucasians.
Serum levels of ADAM12‐S: possible association with the initiation and progression of dermal fibrosis and interstitial lung disease in patients with systemic sclerosis
Authors: Taniguchi T. , Asano Y. , Akamata K. , Aozasa N. , Noda S. , Takahashi T. , Ichimura Y. , Toyama T. , Sumida H. , Kuwano Y. , Yanaba K. , Tada Y. , Sugaya M. , Kadono T. , Sato S. 
Published: April 2012

AbstractBackground  A disintegrin and metalloprotease (ADAM) 12 is one of the metalloproteinase‐type ADAMs and possesses extracellular metalloprotease and cell‐binding functions. ADAM12 is expressed in two alternative forms, such as a membrane‐anchored form (ADAM12‐L) and a short secreted form (ADAM12‐S).Objective  To investigate the clinical significance of serum ADAM12‐S levels in systemic sclerosis (SSc).Methods  Serum ADAM12‐S levels were determined by a specific enzyme‐linked immunosorbent assay in 61 SSc patients and 18 healthy controls.Results  Serum ADAM12‐S levels were significantly increased in diffuse cutaneous SSc (dcSSc) patients than in healthy controls (0.417 ± 0.389 vs. 0.226 ± 0.065 ng/mL; P < 0.05), while being comparable between limited cutaneous SSc (0.282 ± 0.258 ng/mL) and healthy controls. Serum ADAM12‐S levels significantly elevated in dcSSc patients with disease duration of ≤6 years (0.537 ± 0.449 ng/mL, P < 0.05), but not in dcSSc with disease duration of >6 years (0.225 ± 0.049 ng/mL), compared to healthy controls. Furthermore, in dcSSc patients with disease duration of ≤6 years, serum ADAM12‐S levels correlated positively with modified Rodnan total skin thickness score, ground glass score, and serum C‐reactive protein values, while showed inverse correlation with fibrosis score.Conclusion  Elevated serum ADAM12‐S levels are associated with elevated serum inflammatory marker, severity of skin fibrosis, and activity of interstitial lung disease in dcSSc, suggesting the possible contribution of ADAM12‐S to the pathological events in this disorder.
Population‐level consequences of polymorphism, plasticity and randomized phenotype switching: a review of predictions
Authors: Wennersten Lena , Forsman Anders 
Published: April 2012

The consequences of among‐individual phenotypic variation for the performance and ecological success of populations and species has attracted growing interest in recent years. Earlier reviews of this field typically address the consequences for population processes of one specific source of variation (plasticity or polymorphism), or consider one specific aspect of population performance, such as rate of speciation. Here we take a broader approach and study earlier reviews in order to summarize and compare predictions regarding several population‐level consequences of phenotypic variation stemming from genetic polymorphism, developmental plasticity or randomized phenotype switching.Unravelling cause‐dependent consequences of variation may increase our ability to understand the ecological dynamics of natural populations and communities, develop more informed management plans for protection of biodiversity, suggest possible routes to increased productivity and yield in natural and managed biological systems, and resolve inconsistencies in patterns and results seen in studies of different model systems.We find an overall agreement regarding the effects of higher levels of phenotypic variation generated by different sources, but also some differences between fine‐grained and coarse‐grained environments, modular and unitary organisms, mobile and sessile organisms, and between flexible and fixed traits. We propose ways to test the predictions and identify issues where current knowledge is limited and future lines of investigation promise to provide important novel insights.
Vagus nerve stimulation in children with intractable epilepsy: a randomized controlled trial
Authors: KLINKENBERG SYLVIA , AALBERS MARLIEN W , VLES JOHAN S H , CORNIPS ERWIN M J , RIJKERS KIM , LEENEN LOES , KESSELS FONS G H , ALDENKAMP ALBERT P , MAJOIE MARIAN 
Published: April 2012

Aim  The aim of this study was to evaluate the effects of vagus nerve stimulation (VNS) in children with intractable epilepsy on seizure frequency and severity and in terms of tolerability and safety.Method  In this study, the first randomized active controlled trial of its kind in children, 41 children (23 males; 18 females; mean age at implantation 11y 2mo, SD 4y 2mo, range 3y 10mo–17y 8mo) were included. Thirty‐five participants had localization‐related epilepsy (25 symptomatic; 10 cryptogenic), while six participants had generalized epilepsy (four symptomatic; two idiopathic). During a baseline period of 12 weeks, seizure frequency and severity were recorded using seizure diaries and the adapted Chalfont Seizure Severity Scale (NHS3), after which the participants entered a blinded active controlled phase of 20 weeks. During this phase, half of the participants received high‐output VNS (maximally 1.75mA) and the other half received low‐output stimulation (0.25mA). Finally, all participants received high‐output stimulation for 19 weeks. For both phases, seizure frequency and severity were assessed as during the baseline period. Overall satisfaction and adverse events were assessed by semi‐structured interviews.Results  At the end of the randomized controlled blinded phase, seizure frequency reduction of 50% or more occurred in 16% of the high‐output stimulation group and in 21% of the low‐output stimulation group (p=1.00). There was no significant difference in the decrease in seizure severity between participants in the stimulation groups. Overall, VNS reduced seizure frequency by 50% or more in 26% of participants at the end of the add‐on phase The overall seizure severity also improved (p<0.001).Interpretation  VNS is a safe and well‐tolerated adjunctive treatment of epilepsy in children. Our results suggest that the effect of VNS on seizure frequency in children is limited. However, the possible reduction in seizure severity and improvement in well‐being makes this treatment worth considering in individual children with intractable epilepsy.
Visual search performance of patients with vision impairment: effect of JPEG image enhancement
Authors: Luo Gang , Satgunam PremNandhini , Peli Eli 
Published: April 2012

Citation information: Luo G, Satgunam P & Peli E. Visual search performance of patients with vision impairment: effect of JPEG image enhancement. Ophthalmic Physiol Opt 2012, 32, 421–428. doi: 10.1111/j.1475‐1313.2012.00908.xAbstractPurpose:  To measure natural image search performance in patients with central vision impairment. To evaluate the performance effect for a JPEG based image enhancement technique using the visual search task.Methods:  One hundred and fifty JPEG images were presented on a touch screen monitor in either an enhanced or original version to 19 patients (visual acuity 0.4–1.2 logMAR, 6/15 to 6/90, 20/50 to 20/300) and seven normally sighted controls (visual acuity −0.12 to 0.1 logMAR, 6/4.5 to 6/7.5, 20/15 to 20/25). Each image fell into one of three categories: faces, indoors, and collections. The enhancement was realized by moderately boosting a mid‐range spatial frequency band in the discrete cosine transform (DCT) coefficients of the image luminance component. Participants pointed to an object in a picture that matched a given target displayed at the upper‐left corner of the monitor. Search performance was quantified by the percentage of correct responses, the median search time of correct responses, and an ‘integrated performance’ measure – the area under the curve of cumulative correct response rate over search time.Results:  Patients were able to perform the search tasks but their performance was substantially worse than the controls. Search performances for the three image categories were significantly different (p <= 0.001) for all the participants, with searching for faces being the most difficult. When search time and correct response were analyzed separately, the effect of enhancement led to increase in one measure but decrease in another for many patients. Using the integrated performance, it was found that search performance declined with decrease in acuity (p = 0.005). An improvement with enhancement was found mainly for the patients whose acuity ranged from 0.4 to 0.8 logMAR (6/15 to 6/38, 20/50 to 20/125). Enhancement conferred a small but significant improvement in integrated performance for indoor and collection images (p = 0.025) in the patients.Conclusion:  Search performance for natural images can be measured in patients with impaired vision to evaluate the effect of image enhancement. Patients with moderate vision loss might benefit from the moderate level of enhancement used here.
What's a proper push? The Valsalva manoeuvre revisited
Authors: Mulder Femke E. M. , Shek Ka L. , Dietz Hans P. 
Published: April 2012

In daily practice, the Valsalva manoeuvre is used to assess pelvic organ prolapse, virtually always without standardisation of pressure. We undertook a study to determine maximum pressures reached and pressures required to obtain 80% of maximal pelvic organ descent, to investigate the need for such standardisation. Clinical data and ultrasound data sets of 75 women seen for urodynamic testing were reviewed retrospectively, with three Valsalva manoeuvres registered per patient. Maximum rectal pressures generated during Valsalva were 107 cm H
2
O on average (range, 45–190 cm H
2
O). Ninety‐seven percent of all women managed to reach pressures ≥60 cm H
2
O. On average, 80% of maximal bladder neck descent was reached at 56 cm H
2
O, 80% of maximal pelvic organ descent at 38 cm H
2
O. Our results imply that virtually all patients were able to generate pressures resulting in ≥80% of maximal pelvic organ descent. This implies that standardisation of Valsalva pressures for prolapse assessment may be unnecessary.
The Economic Impact of the Federal Credit Union Usury Ceiling
Authors: WOLKEN JOHN D. , NAVRATIL FRANK J. 
Published: April 2012

ABSTRACTThis study measures the impact of the Federal credit union usury ceiling on consumer credit availability and loan rates. When binding, the ceiling keeps loan rates low, but it reduces credit union lending. There is also evidence that a binding loan rate ceiling affects the competitiveness of credit unions in the market for deposits. Although the Federal Credit Union Act specifically mandates federally chartered credit unions to be a source of low cost consumer credit and to promote thriftiness, it is not at all clear that the intent of the Act is served by a binding usury ceiling.
On the Rate Structure of the American Life Insurance Market
Authors: WINTER RALPH A. 
Published: April 2012

ABSTRACTThis article re‐examines the conclusion of previous studies that price dispersion is extreme in the American whole life insurance market. We take an axiomatic approach to the problem of measuring “price” dispersion in the market for the multiparameter whole life contracts, studying the distribution across contract offers of a price index which is uniquely determined by two conditions. In contrast to the accepted wisdom, we find that the derived measure of price dispersion is only 3.6% and that much of this dispersion can be accounted for by measurement error.
The Behavior of the Interest Rate Differential Between Tax‐exempt Revenue and General Obligation Bonds: A Test of Risk Preferences and Market Segmentation
Authors: KIDWELL DAVID S. , KOCH* TIMOTHY W. 
Published: April 2012

ABSTRACTThis paper presents evidence that the yield differential between revenue bonds and similar general obligation bonds varies contracyclically with the level of economic activity. The evidence also indicates that significant investor‐borrower induced market segmentation exists in the municipal bond market. An increase in the relative demand by commercial banks for tax‐exempt securities and/or an increase in the supply of revenue bonds relative to the supply of general obligation bonds increase the yield spread between the two classes of debt. These findings were the result of a series of empirical tests with both macroeconomic and microeconomic data.
The Time‐Variance Relationship of Security Returns: Implications for the Return‐Generating Stochastic Process
Authors: PERRY PHILIP R. 
Published: April 2012

ABSTRACTUsing a test statistic which specifically allows for parameter shifts over time, we investigate the time‐variance relationship of security returns. The null hypothesis of stationary and independent increments is rejected, and the existence of a complex short‐term reversal phenomenon is reported.
Optimal Aggregation of Money Supply Forecasts: Accuracy, Profitability and Market Efficiency
Authors: FIGLEWSKI STEPHEN , URICH THOMAS 
Published: April 2012

ABSTRACTWe present a general procedure for aggregating expert forecasts which exploits regularities in the structure of information within the forecaster population. Specific information structures lead to aggregation methods which adjust for additive bias, differences in individual accuracy, and correlation among forecasts. As an application, we construct composite predictions of the weekly change in the money supply from forecasts made by twenty major securities dealers, for which high positive correlation is found to be a significant characteristic. Due to instability in the information structure, our methods cannot improve on the accuracy of a simple average in this case. However, they do capture information about the correlation among money supply forecasts which is not fully impounded in short‐term interest rates. Forecasts from our models accurately predict the direction of price changes for Treasury bills and Treasury bill futures after a money supply announcement.
The Irrelevance of Capital Structure for the Impact of Inflation on Investment
Authors: HOCHMAN SHALOM , PALMON ODED 
Published: April 2012

ABSTRACTStudies concerning the effect of inflation on firms' investment decisions suggest that the form of financing is relevant in assessing the effect of inflation on investment. This paper demonstrates that when the equilibrium relationship between market rates of return on bonds and stocks is considered, the effect of inflation on investment is independent of the capital structure. The paper also shows that when the ‘Fisher effect’ is assumed to hold, the cut‐off rate of return on investment declines with anticipated inflation independently of the financing. However, if the real interest rate rises with inflation, inflation may increase the cut‐off rate.
Estimating the Tax Advantage of Corporate Debt
Authors: CORDES JOSEPH J. , SHEFFRIN STEVEN M. 
Published: April 2012

ABSTRACTThis paper presents estimates of the effective tax value of incremental interest deductions for corporations taking into account that they may not be able to utilize all their interest deductions fully because of either insufficient taxable income or the availability of nondebt tax shields. After describing particular features of the tax code which may drive a wedge between statutory and effective tax rates for debt finance, we present estimates using the Treasury Corporate Tax Model of effective tax rates for a variety of industry groupings. Our estimates suggest that the after‐tax cost of debt varies widely across industries.
The Effect of Voluntary Spin‐off Announcements on Shareholder Wealth
Authors: MILES JAMES A. , ROSENFELD JAMES D. 
Published: April 2012

ABSTRACTThis paper presents estimates of the effect of a voluntary spin‐off announcement on shareholder wealth. The results show that spin‐off announcements have a positive influence on stock prices and that the relative increase in share price is greater for large spin‐offs than for small ones.
The Demand for Borrowed Reserves: A Switching Regression Model
Authors: DUTKOWSKY DONALD 
Published: April 2012

ABSTRACTA microeconomic model of bank demand for borrowed reserves from the Federal Reserve is developed based upon constrained cost minimization. The derived demand function was found to correspond to behavior appropriate to the unknown switchpoint switching regression problem. When estimated, parameters generally conformed to theoretical expectations. The model was also tested for existence of switching regression behavior against a model similar to Goldfeld and Kane [12]. Significance exceeded 99% in all cases. With the advent of reserve intermediate targeting, it appears especially necessary to reinvestigate the behavior determining this important source of reserves.
On the Exclusion of Assets from Tests of the Mean Variance Efficiency of the Market Portfolio
Authors: KANDEL SHMUEL 
Published: April 2012

ABSTRACTThis paper presents an analysis of the testability of the mean variance efficiency of a market index when the returns on some components of the index itself are not perfectly observable. The results are basically not supportive of the notion that mean variance efficiency is testable on a subset of the assets. Bounding the market share of the missing asset and its expected return is not sufficient to produce a valid test. When the variance of the missing asset is bounded, and the amount of wealth that might be missing is small, it is possible, in principle, to reject correctly the mean variance efficiency of a market index.
A Partial Theory of Takeover Bids
Authors: ASHTON D. J. , ATKINS D. R. 
Published: April 2012

ABSTRACTThere is a natural separation between production decisions affecting the firm as a whole and individual decisions by each shareholder about his portfolio of securities. The end result of these two types of decisions is normally referred to as a productive exchange equilibrium. At such an equilibrium, no individual wants to adjust his portfolio and no firm can muster majority support for a change in its production plans. This paper presents a partial theory of takeover bids in that it examines the role of a takeover bid as a mechanism by which a simultaneous change in shareholdings and production plans can be achieved. This enables a new production exchange equilibrium to be reached which is preferred by a majority of the shareholders but which is inaccessible without a contingent contract in the form of a takeover bid.
Rational Expectations and the Measurement of a Stock's Elasticity of Demand
Authors: ALLEN FRANKLIN , POSTLEWAITE ANDREW 
Published: April 2012

ABSTRACTScholes [1] considered the effect of secondary sales of large blocks of stock on the price of the stock. However, he only looked at price changes occurring just before and just after the sale took place. It is argued here, using a simple model, that if traders have rational expectations they may anticipate the sale, and prices could reflect this possibility long before it actually occurs. To determine the full effect, it may therefore be necessary to consider the price path many months, or even years, before the sale.
The Effects of Transaction Costs and Different Borrowing and Lending Rates on the Option Pricing Model: A Note
Authors: GILSTER JOHN E. , LEE WILLIAM 
Published: April 2012

ABSTRACTThis paper modifies the Black‐Scholes option pricing model to include the effects of transaction costs and different borrowing and lending rates. The paper demonstrates that these market imperfections tend to offset each other yielding a bounded range of prices for each option. The paper also shows that under some conditions the option pricing hedge may be society's lowest cost financial intermediary.
Hedging Interest Rate Risk with Futures Portfolios under Term Structure Effects
Authors: HILLIARD JIMMY E. 
Published: April 2012

ABSTRACTThis study develops and tests a methodology for reducing interest rate risk in a fixed spot portfolio of assets and liabilities with default‐free cash flows. A minimum variance hedge is constructed by adding a portfolio of financial futures to the spot portfolio. Theorems are given which establish necessary and sufficient conditions for the existence of unique and zero‐variance hedges. The risk reduction characteristics of the methodology are demonstrated by an empirical analysis.
A Complete Analysis of Full Pareto Efficiency in Financial Markets for Arbitrary Preferences
Authors: AMERSHI AMIN H. 
Published: April 2012

ABSTRACTThis paper provides a complete analysis of the necessary and sufficient conditions for financial markets to achieve fully Pareto‐efficient allocation of aggregate wealth through trade in economies with arbitrary preferences. We show that full Pareto efficiency obtains only if the market structure of contingent claims spans the information partition of a minimal aggregate wealth statistic and a Halmos‐Savage sufficient statistic for the beliefs of the traders. All the known allocation efficiency results in the literature due to Arrow, Hakansson, John, Ross, and others are unified by this result.
On the Relevance of Debt Maturity Structure
Authors: BRICK IVAN E. , RAVID S. ABRAHAM 
Published: April 2012

ABSTRACTIn this paper, we present a tax‐induced framework to analyze debt maturity problems. We show that under some modifications of the existing U.S. tax code, debt maturity is irrelevant even in the presence of taxes and bankruptcy costs that yield an optimal capital structure. If this restrictive structure is relaxed, and assuming the Miller [15] equilibrium does not prevail, tax reasons would usually imply the existence of an optimal debt maturity structure. If there exists a gain from leverage, then an increasing term structure of interest rates, adjusted for default risk, results in long‐term debt being optimal. A decreasing term structure, under similar circumstances, renders short‐term debt optimal. In the absence of agency costs, a Miller [15]‐type result emerges at equilibrium and irrelevance prevails. We also argue that agency costs could again reverse the irrelevance and imply a firm‐specific optimal debt maturity structure.