bluuebunny/crossref_metadata_2025_split huggingface dataset:
A Comparison of Reverse Leveraged Buyouts and Original Initial Public Offers: Factors Impacting their Issuance in the IPO Market
Authors: Hogan Karen M. , Olson Gerard T. , Kish Richard J. 
Published: March 2005

AbstractThe purpose of this paper is to assess the factors that affect the returns earned by investors in early trading of reverse LBOs and compare those results to factors affecting original IPOs which are matched by size, industry, and issue date. A mean excess return of 7.64% is observed for the sample of reverse LBOs during the period 1987 to 1998. This return is uniformly lower than returns earned by investing in original IPOs. These results support the information asymmetry hypothesis.The results also show that factors such as number of months the LBO was privately held, the over‐allotment, or greenshoe option, the size of the issue, insider ownership, and gross spread impact the returns earned by investors in reverse LBOs. Other factors which are known to affect returns on original IPOs, such as lead underwriter, whether the deal was syndicated, the number of managers, the listing exchange, lockup agreements, and auditor, are shown to have no impact on the returns in reverse LBOs for the sample in question. We find that the level of insider participation and the over‐allotment option are more important to original IPOs than to reverse LBOs in explaining the excess returns earned by shareholders in early trading. We find, however, that the size of the offering has more impact on excess returns for reverse LBOs than for original IPOs.
The Lead‐Lag Relation Between Spot and Futures Markets Under Different Short‐Selling Regimes
Authors: Jiang Li , Fung Joseph K.W. , Cheng Louis T.W. 
Published: March 2005

AbstractWe examine the lead‐lag relation between index futures and the underlying index under three types of short‐selling restrictions on stocks in Hong Kong. Our results indicate that lifting short‐selling restrictions can enhance the informational efficiency of the stock market relative to the index futures. We also investigate the impact of two market characteristics, market conditions and the magnitude of mispricing on the lead‐lag relations under different short‐selling regimes. Our findings suggest that if we remove restrictions, the contemporaneous price relation between the futures and cash markets becomes stronger particularly in the falling market and when the cash market is relatively overpriced.
Motivation and Performance of Seasoned Offerings by Closed‐End Funds
Authors: Akhigbe Aigbe , Madura Jeff 
Published: March 2005

AbstractWe examine the motivation and performance of closed‐end funds that engage in seasoned public or rights offerings. We find that closed‐end funds are more motivated to engage in seasoned offerings when their shares exhibit a relatively high premium (compared to their corresponding NAV) and have a high degree of liquidity. We also find a significant negative valuation effect on average in response to seasoned offerings by closed‐end funds. Our cross‐sectional analysis reveals that the valuation effect at the time of the seasoned offering is more unfavorable for funds that have relatively high expense ratios and are relatively large. Furthermore, we find that the closed‐end funds experience significant negative valuation effects over the three‐year period subsequent to the seasoned offering, implying poor post‐offering performance.
Post‐Reform Market‐Order Execution Quality: Multidimensional Comparisons Across Market Centers
Authors: Hatch Brian , Battalio Robert , Jennings Robert 
Published: March 2005

AbstractWe use market‐order data to determine execution quality on the NYSE, four regional stock exchanges, and the Nasdaq InterMarket. We examine a sample period after the reduction in the minimum price variation and after the SEC imposed new order‐handling rules, and analyze dimensions of execution quality in addition to trade prices. We find that in the postreform environment, the NYSE offers execution prices that are more favorable to the investor. However, the regional exchanges and the InterMarket offer executions that are faster and that more frequently allow investors to execute orders with sizes exceeding the quoted depth at the quoted price.
Stochastic Properties of Time‐Averaged Financial Data: Explanation and Empirical Demonstration Using Monthly Stock Prices
Authors: Wilson Jack W. , Jones Charles P. , Lundstrum Leonard L. 
Published: March 2005

AbstractThis article considers the potential statistical problems resulting from the use of averaged rather than end‐of‐period data in financial research. Averaged data are widely employed throughout the literature without explicit recognition that the use of such data results in biased estimates of the variance, covariance and autocorrelation of the first as well as higher order changes. We illustrate the magnitude of the biases, using the S&P 500 end‐of‐month series over the period March 1957 to February 2001. Results confirm the predictions of Working and of Schwert. In addition, an analysis of the properties of higher‐order lags indicates that the bias persists, a result not previously suggested in the literature. We also find that these statistical biases are time varying‐which has significant implications for empirical financial research.
Rational Pricing of Internet Companies Revisited
Authors: Schwartz Eduardo S. , Moon Mark 
Published: March 2005

AbstractIn this article we expand and improve the Internet company valuation model of Schwartz and Moon (2000) in numerous ways. By using techniques from real options theory and modern capital budgeting, the earlier paper demonstrated that uncertainty about key variables plays a major role in the valuation of high growth Internet companies. Presently, we make the model more realistic by providing for stochastic costs and future financing, and also by including capital expenditures and depreciation in the analysis.Perhaps more importantly, we offer insights into the practical implementation the model. An important challenge to implementing the original model was estimating the various parameters of the model. Here, we improve the procedure by setting the speed of adjustment parameters equal to one another, by tying the implied half‐life of the revenue growth process to analyst forecasts, and by inferring the risk‐adjustment parameter from the observed beta of the company's stock price. We illustrate these extensions in a valuation of the company eBay.
The Effect of Serial Dependence on Multiperiod Holding Period Return Performance
Authors: Spahr Ronald W. , Schwebach Robert G. 
Published: March 2005

AbstractThe impact of the investment time horizon on risk‐return properties of asset returns depends on the presence of serial correlation and higher order serial dependencies. We present a methodology for decomposing multiperiod holding period return covariance into serial and cross‐sectional components using a recursive multiplicative model that captures the effects of serial and cross‐sectional dependencies and their joint effects without requiring a distributional form assumption. Applying this model to historical monthly return series for commonly held financial assets and portfolios of assets, we investigate the significance of the investment time horizon, the existence and relevance of time diversification, the inflation‐hedging effectiveness of different assets, and the appropriateness of applying traditional capital market theory in a multiperiod framework.
The Market's Assessment of the Financial Services Modernization Act of 1999
Authors: Akhigbe Aigbe , Whyte Ann Marie 
Published: March 2005

AbstractWe examine the impact of the events leading up to and including the passage of the Financial Services Modernization Act (FSMA) of 1999 on the stock returns of banks, brokerage firms, and insurance companies. We find that the impact is positive for all institutions. Bank gains are positively related to size and capitalization. Brokerage firms gain regardless of size, but the gains are inversely related to capitalization and insurance companies gain regardless of size or capital position. The strong positive reaction suggests that the market expects the institutions to benefit from the new opportunities created by the FSMA's passage.
Risk factors for gingival overgrowth in patients medicated with ciclosporin in the absence of calcium channel blockers
Authors: Thomason J. Mark , Seymour Robin A. , Ellis Janice S. 
Published: March 2005

AbstractObjectives: This study investigates the effect of a range of potential risk factors on the severity of gingival overgrowth in transplant patients medicated with ciclosporin in the absence of any calcium channel blockers.Materials and Methods: One hundred dentate solid organ transplants medicated with ciclosporin (but not calcium channel blockers or phenytoin) were recruited for the study. Demographic, pharmacological and periodontal data were recorded and gingival overgrowth assessed from stone models.Results: Univariate analysis identified the duration of transplant, papilla bleeding index, creatinine serum concentration, azathioprine and prednisolone dosage as risk factors for overgrowth severity. Multivariate modelling, excluding the periodontal parameters, gave a predictive model that included dosages of ciclosporin, azathioprine, prednisolone and weight (p<0.0001, adjusted‐R2=19%). Adding the periodontal variables strengthened the model (p<0.0001, adjusted‐R2=34.5%).Conclusion: The explanatory models in this study contain a number of variables that moderate inflammation (azathioprine and prednisolone) or are markers of it (papilla bleeding index). Dosage of each of the three immunosuppressants was identified as a risk factor for the severity of gingival change. This observation appears to have been masked by the effects of the calcium channel blockers in earlier studies.
Adjunctive subantimicrobial dose doxycycline: effect on clinical parameters and gingival crevicular fluid transforming growth factor‐β1 levels in severe, generalized chronic periodontitis
Authors: Gürkan Ali , Çınarcık Serhat , Hüseyinov Afig 
Published: March 2005

AbstractBackground: At present there is limited data concerning the efficacy of non‐surgical periodontal therapy supplemented with subantimicrobial dose doxycycline (SDD) in the treatment of severe, generalized periodontitis. The purpose of the present study was to evaluate the effect of adjunctive SDD therapy on clinical periodontal parameters and gingival crevicular fluid (GCF) transforming growth factor‐beta1 (TGF‐β1) levels in patients with severe, generalized chronic periodontitis over a 6‐month period.Methods: Thirty‐five patients with severe, generalized periodontitis and 11 periodontally healthy subjects were included in the present study. Patients received full‐mouth supragingival debridment at baseline and randomized to take either SDD b.i.d. or placebo b.i.d. for 3 months. Patients received root planing and oral hygiene instruction once a week for four consecutive weeks. Clinical measurements including probing depth (PD), clinical attachment level, papilla bleeding index and plaque index and GCF sampling were performed at baseline, 3 and 6 months. The GCF TGF‐β1 levels were analysed by enzyme‐linked immunosorbent assay.Results: Thirteen patients in both study groups completed the 6‐month trial. Following scaling and root planing (SRP) plus SDD and SRP plus placebo therapy significant improvements in clinical periodontal parameters of both groups were observed (p<0.025). In the SDD group a significantly higher percentage (%73.4) of deep pockets resolved (PD reduction 3 mm from baseline) when compared with placebo group (%49.7) at 6 months (p<0.05). At baseline there were no significant differences in GCF TGF‐β1 levels between three groups. Both total amount and concentration of GCF TGF‐β1 in SDD and placebo groups increased when compared with baseline at 3 months. However, only GCF TGF‐β1 levels of SDD group was significantly higher than baseline (p<0.025) and placebo group (p<0.017) at 3 months. At 6 months GCF TGF‐β1 levels of both groups were similar to baseline levels (p<0.025).Conclusions: These data indicate that combination of SDD with non‐surgical therapy improves clinical parameters of periodontal disease and increases GCF TGF‐β1 levels together with a decrease in prevalence of residual pockets in patients with severe, generalized chronic periodontitis. Increased GCF TGF‐β1 levels following SDD therapy might suggest a novell pleiotrophic mechanism for tetracyclines to inhibit connective tissue breakdown.
Root proximity as a risk marker for periodontal disease: a case–control study
Authors: Vermylen K. , De Quincey G. N. Th. , Wolffe G. N. , Van 't Hof M. A. , Renggli H. H. 
Published: March 2005

AbstractAim: The aim of this study is first, to examine the prevalence, symmetry and spread of root proximity using the measurement tools and classification as described in part I of the study, and second to examine whether root proximity is a risk marker for periodontal disease.Material and Methods: The radiographs of 227 patients were examined. The study consisted of a study group of 197 patients with advanced periodontal disease with at least one site with bone loss more than one third of the root length and 30 controls without periodontal disease. Every inter‐proximal space was assessed on the full‐mouth radiographs and a score was assigned according to severity and location. Consequently prevalence of severity and location, symmetry, spread and an odds ratio and relative risk for periodontal disease was calculated.Results: Root proximity is a symmetrical and localized but widespread phenomenon in periodontal patients and to lesser extend in the non‐periodontal control group. In periodontal patients root proximity was most often encountered in the coronal and intervening part whereas subjects without periodontal disease had more root proximity in the apical and intervening part where it is less critical. Subjects with bilateral root proximity had a 3.6 times higher chance to have periodontitis.Conclusion: Root proximity must be taken into consideration as a risk marker for periodontal disease.
Analysis of superoxide dismutase activity levels in gingiva and gingival crevicular fluid in patients with chronic periodontitis and periodontally healthy controls
Authors: Akalin F. Alev , Toklu Esra , Renda Nurten 
Published: March 2005

AbstractObjectives: Superoxide dismutase (SOD) is an antioxidant enzyme that acts against superoxide, an oxygen radical, released in inflammatory pathways and causes connective tissue breakdown. In this study, SOD activities in gingiva and gingival crevicular fluid (GCF) from patients with chronic periodontitis (CP) and periodontally healthy controls were compared.Material and Methods: Twenty‐six CP patients and 18 controls were studied. In patients, teeth with moderate‐to‐severe periodontal breakdown and 5 mm pockets that required full‐thickness flap surgery in the right or left maxillary quadrant, and in controls, teeth scheduled for extraction for orthodontic reasons were studied. After the clinical measurements (probing depth, clinical attachment level, gingival index, gingival bleeding index, plaque index), GCF samples were collected. Tissue samples were harvested from the same teeth, during flap operation in patients and immediately after tooth extraction in controls. SOD activities were spectrophotometrically assayed.The results were statistically analysed.Results: Gingival SOD activity was significantly higher in the CP group than in controls (p<0.05). No significant difference was found in GCF SOD activity between the groups (p>0.05). Correlations between gingival and GCF SOD activities were not statistically significant in CP and control groups (p>0.05).Conclusion: In CP, SOD activity seems to increase in gingiva, probably as a result of a higher need for SOD activity and protection in gingiva in CP than in periodontal health, while not significantly changing in GCF, suggesting a weak SOD activity in GCF in periodontal disease state. The weak correlation between gingival and GCF SOD activities suggests distinct actions of these SODs.
Utilization and accessibility of social services for Chinese Canadians
Authors: Ma Ambrose , Chi Iris 
Published: March 2005

English The findings show that the awareness of service agencies and opinions on the services provided are predictors of Chinese Canadians’ service utilization, and that one-third of Chinese Canadians have not used any social services, for various reasons. When planning services for an ethnic minority group like Chinese Canadians, planners should consider socio-cultural and structural factors alike. French Les résultats de cette étude démontrent que l’utilisation des services sociaux est liée à la connaissance et aux opinions des canadiens d'origine chinoise de ces mêmes services. Un tiers des canadiens d’origine chinoise n’ont pas eu recours aux services sociaux, pour plusieurs raisons. Des facteurs structurels et culturels devraient être pris en considération lors de la planification des services sociaux. Spanish Los resultados muestran que el conocimiento y la opinión sobre las agencias de servicios sociales predicen su utilización por los canadienses de origen chino. También que un tercio de estos ciudadanos, debido a varias razones, no han usado ningún servicio social. En la planificación de servicios para grupos étnicos minoritarios tales como el de los canadienses de origen chino, se han de considerar tanto los factores socioculturales como los estructurales.
Ukrainian women in the new economy
Authors: Yegidis Bonnie L. , Robinson Margaret M. , Toyt-Korshinska Marianna , Havyryluk Nadiya O. , Westbrook Tonya W. 
Published: March 2005

English Ukraine has been independent since 1991. This study explored through a qualitative methodology how Ukrainian women perceived their lives had changed in the 1990s. It was found that women believed their families were barely able to subsist. They also believed that their lives were better under Soviet rule. French L’Ukraine a gagné son indépendance depuis 1991. Cette étude exploratoire menée avec une méthodologie qualitative, a exploré comment les femmes ukrainiennes perµoivent leurs changements de vie au cours de la décennie. On constate que les femmes croient que leurs familles subsistent à peine de 1990. Elles croient également que leurs vies étaient meilleures durant les années du régime soviétique. Spanish Ucrania es independiente desde 1991. Este estudio exploró, a través de la metodología cualitativa, como perciben las mujeres ucranianas que sus vidas han cambiado en la última década. Se encontró que las mujeres creen que sus familias son ahora capaces apenas de subsistir. También creen que su vida era mejor bajo las reglas soviéticas.
Philosophy, Theory and Method in Social Work
Authors: Houston Stanley 
Published: March 2005

• Summary: For quite some time the evidence-based practice discourse in social work has been influential. While this may be viewed as a positive development, problems arise when some of the proponents of the discourse deride other approaches in social work as unscientific. In particular, it is of concern that those who embrace a psychodynamic perspective have been corralled into a ‘mentalist’ enclosure which, it is argued, lacks scientific rigour. By way of rebuttal, this paper argues that approaches promoting an understanding of ‘deep structure’ have a legitimate place within the evidence-based discourse in social work. Bhaskar’s critical realism is adopted to make the case. • Findings: The retroductive method, as articulated by Bhaskar, can be extrapolated to social workers’ assessments of complex situations. This method provides a way of generating and testing hypotheses and evidence by drawing on realist, explanatory theories to gain understanding of the deep, causal mechanisms at play in social life. • Applications: This paper makes a contribution to the continuing discussion about the nature of evidence, and how it is acquired, in social work. Critically, it argues that the pursuit of evidence is central not only to the intimate, micro-domain of face-to-face interaction but also to the macro-domain of oppressive social structure.
Presbyteral Ministry in the Roman Catholic Church
Authors: McPartlan Paul 
Published: March 2005

AbstractThis paper considers the teaching of Vatican II on the presbyterate in relation to the episcopate, against the background of the history of these ministries. The Council used Ignatius of Antioch and the Apostolic Tradition in its renewed teaching that presbyters form a college in union with the bishop, who is high priest of his local church. Since the fourth century, however, presbyters have been dispersed to act as individual parish priests. Tensions between this model and the earlier one are explored, as is the liturgical and theological renewal that led to Vatican II’s teaching. It is finally proposed that the Council offers valuable resources, not yet fully realized, for pastoral planning in a time of priestly shortage.
A functional analysis of the putative polymorphisms A91V and N252S and 22 missense perforin mutations associated with familial hemophagocytic lymphohistiocytosis
Authors: Voskoboinik Ilia , Thia Marie-Claude , Trapani Joseph A. 
Published: March 2005

AbstractUp to 60% of cases of the autosomal recessive immunodeficiency hemophagocytic lymphohistiocytosis (HLH) are associated with mutations in the perforin (PRF1) gene. In this study, we expressed wild-type and mutated perforin in rat basophil leukemia cells to study the effect on lytic function of the substitutions A91V and N252S (commonly considered to be neutral polymorphisms) and 22 perforin missense substitutions first identified in HLH patients. Surprisingly, we found that A91V perforin was expressed at reduced levels compared with wild-type perforin, resulting in partial loss of lytic capacity. In contrast, expression and function of N252S-substituted perforin were normal. Most HLH-associated mutations resulted in protein degradation (probably due to misfolding) and complete loss of perforin activity, the exception being R232H, which retained approximately 30% wild-type activity. Several other mutated proteins (H222Q, C73R, F157V, and D313V) had no detectable lytic activity but were expressed at normal levels, suggesting that their functional defect might map downstream at the level of the target cell membrane. One further perforin substitution identified in an HLH patient (V183G) was normally expressed and displayed normal lysis. This report represents the first systematic functional analysis of HLH-associated missense mutations and the 2 most common perforin polymorphisms. (Blood. 2005;105:4700-4706)
Interrupted or continuous slowly absorbable sutures – Design of a multi-centre randomised trial to evaluate abdominal closure techniques INSECT-Trial [ISRCTN24023541]
Authors: Knaebel Hanns-Peter , Koch Moritz , Sauerland Stefan , Diener Markus K , Büchler Markus W , Seiler Christoph M ,   the INSECT Study Group of the Study Centre of the German Surgical Society (SDGC)
Published: March 2005

AbstractBackgroundThe closure of the abdomen after median laparotomy is still a matter of debate among surgeons. Further well designed and performed randomised controlled trials determining the optimal method of abdominal fascial closure are needed.DesignThis is a three armed, multi-centre, intra-operatively randomised, controlled, patient blinded trial. Over 20 surgical departments will enrol 600 patients who are planned for an elective primary abdominal operation. The objective of this study is to compare the frequency of abdominal incisional hernias between two continuous suture techniques with different, slowly absorbable monofilament materials and an interrupted suture using an absorbable braided suture material at one year postoperatively.ConclusionThis trial will answer the question whether the continuous abdominal wall closure with a slowly absorbable material with longitudinal elasticity is superior to the continuous suture with a material lacking elasticity and to interrupted sutures with braided thread.