bluuebunny/crossref_metadata_2025_split huggingface dataset:
Expression of Killer Immunoglobulin‐like Receptors on Peripheral Blood NK Cell Subsets of Women with Recurrent Spontaneous Abortions or Implantation Failures
Authors: Ntrivalas Evangelos I. , Bowser Chad R. , Kwak‐Kim Joanne , Beaman Kenneth D. , Gilman‐Sachs Alice 
Published: April 2005

Problem:  Decidual natural killer (NK) cells express inhibitory receptors (killer immunoglobulin‐like receptors, KIRs), which bind to ligands on trophoblast cells (human leucocyte antigen, HLA‐C). This interaction appears to block NK cytotoxicity against trophoblast cells. In this study, we investigated the expression of inhibitory and activating receptors in peripheral blood NK cells of women with recurrent spontaneous abortion (RSA) or implantation failures.Method of study:  CD56dim/CD16+, CD56bright/CD16− NK cells and CD56+/CD3+ NKT cells of women with RSA or in vitro fertilization (IVF) failures and normal controls were analyzed for the expression of CD158a, CD158b inhibitory KIRs or CD161‐activating receptors, by flow cytometric analysis.Results:  CD158a and CD158b inhibitory receptor expression by CD56dim/CD16+ and CD56bright/CD16− NK cells were significantly decreased, and CD161‐activating receptor expression by CD56+/CD3+ NKT cells was significantly increased in women with implantation failures when compared with normal controls.Conclusions:  An imbalance between inhibitory and activating receptor expression was found in NK cells of women with implantation failures. This imbalance may explain the adverse reproductive outcome.
Effect of Bacterial Virulence on IL‐18 Expression in the Amnion Infected withEscherichia coli
Authors: Šplíchalová Alla , Trebichavský Ilja , Muneta Yoshihiro , Mori Yasuyuki , Šplíchal Igor 
Published: April 2005

Problem: The upregulation of inflammatory substances threatens pregnancy. Interleukin‐18 (IL‐18) is elevated in women who miscarried. The purpose of this study was to develop a pig model of chorioamnionitis to study the effect of bacterial virulence on IL‐18 response in experimentally infected amnion.Method of study: A total of 20,000 colony‐forming units ofEscherichia coli(an enteropathogenic O55 strain, EPEC or O86 non‐pathogenic strain) were administered into the amniotic cavity of pig fetuses at 70% of gestation for 10 hr. Fetal amniotic fluid samples were analyzed for IL‐18 levels by enzyme‐linked immunosorbent assay. The expression of IL‐18 was studied also by immunohistochemistry on cryostat sections through amniotic membranes and pathological changes were observed by electron microscopy.Results: BothE. colistrains propagated in amniotic fluids and reached similar counts. Only EPEC, however, caused a significant increase of IL‐18 amniotic fluid levels (P < 0.001) and cytokine expression in the amniotic epithelium.Conclusions: The levels of IL‐18 in infected amniotic fluids correlated with bacterial virulence and pathological changes in the amnion.
THE EVA REVOLUTION
Authors: Ehrbar Al , Stewart G. Bennett 
Published: April 2005

Stern Stewart's EVA framework for financial management and incentive compensation is the practical application of both modern financial theory and classical economics to the problems of running a business. It is a fundamental way of measuring and motivating corporate performance that encourages managers to make decisions that make economic sense, even when conventional accounting‐based measures of performance tell them to do otherwise. Moreover, EVA provides a consistent basis for a comprehensive system of corporate financial management—one that is capable of guiding all corporate decisions, from annual operating budgets to capital budgeting, strategic planning, and acquisitions and divestitures. It also provides companies with a “language” for communicating their goals and achievements to investors—a language that the market is increasingly coming to interpret as a sign of superior future performance.The authors report that more than 300 companies have implemented Stern Stewart's EVA framework, including a growing number of converts in Europe, Asia, and Latin America. After describing significant behavioral changes at a number of EVA companies, the article focuses in detail on a single case history—that of auto parts manufacturer Federal‐Mogul. Besides bringing about a dramatic change in the company's strategy and significant operating efficiencies, the adoption of EVA also led to an interesting change in Federal—Mogul's organizational structure—a combination of two large business units into a single profit center designed to achieve greater cooperation and synergies between the units.
TO PURCHASE OR TO POOL: DOES IT MATTER?
Authors: Lindenberg Eric , Ross Michael P. 
Published: April 2005

The recent decision by the Financial Accounting Standards Board to eliminate pooling accounting for acquisitions raises several important questions: Does the choice of “purchase” or “pooling” affect firm valuations? How do differences in goodwill and its amortization affect cash flow and price/earnings multiples? How has the market reacted to purchase and pooling acquisition announcements?The authors' new research suggests that the market already judges mergers and acquisitions based on fundamental economics, not on GAAP earnings. In a study of 1,442 large acquisitions in the 1990s, the authors find that, in the first month after the announcement of pooled transactions, the acquirer's stock fell by an average of almost 4%. By contrast, the market reaction to purchase acquisitions was extremely favorable, with a 3% positive abnormal return in the first month.But what about the ongoing effect of goodwill amortization on values? In the second part of their two‐part study, the authors report that the P/E multiples of acquirers reporting increases in goodwill amortization increase significantly following the acquisitions, and that the increases in P/E are large enough to offset the negative impact of goodwill amortization on earnings. Moreover, the authors also tested for and were unable to find any evidence of a market bias against balance sheet goodwill as an indicator of future amortization charges.The authors thus conclude that changes in accounting for acquisitions should not be a concern for acquirers, and that the elimination of pooling should have no lasting impact on corporate strategic decisions or M&A activity. Nevertheless, they do suggest that companies with significant goodwill would benefit from making their amortization transparent in their financial statements by, for example, breaking out amortization from depreciation on their income statements.
SOME NEW EVIDENCE ON EVA COMPANIES
Authors: Kleiman Robert T. 
Published: April 2005

The study of companies using EVA and EVA‐like systems discussed in the previous article provides evidence of changes in managerial behavior, such as reduced capital expenditures, increased share repurchases, and increased residual income, but stops short of concluding that such changes have increased shareholder value. This article presents evidence that directly addresses the issue: Do companies adopting EVA add more value for their shareholders than their industry competitors?The author reports that U.S. companies adopting EVA during the period 1987–1996 outperformed the median firms with the same SIC codes by 28.8% during the four‐year period including and following the year of adoption. This paper also provides evidence of significant operating improvements that help explain such increases in shareholder value. But, in contrast to the finding of the Wallace study cited above, the capital expenditures of EVA companies increase (although at a slower rate than for S&P 500 companies) after going on to EVA.
EVIDENCE THAT GREATER DISCLOSURE LOWERS THE COST OF EQUITY CAPITAL
Authors: Botosan Christine A. 
Published: April 2005

The effect of corporate disclosure on the cost of equity capital is a matter of considerable interest and importance to both corporations and the investment community. However, the relationship between disclosure level and cost of capital is not well established and has proved difficult for researchers to quantify.As described in this article, the author's 1997 study (published in The Accounting Review) was the first to measure and detect a direct relationship between disclosure and cost of capital. After examining the annual reports of 122 manufacturing companies, the author concluded that companies providing more extensive disclosure had a lower (forward‐looking) cost of equity capital (measured using Value Line forecasts with an EBO valuation formula that derives from the dividend discount model).For companies with extensive analyst coverage, differences in disclosure do not appear to affect cost of capital. But for companies with small analyst followings, differences in disclosure do appear to matter. Among this group of companies, the firms judged to have the highest level of disclosure had a cost of equity capital that was nine‐percentage points lower than otherwise similar firms with a minimal level of disclosure. Closer analysis of some of the specific disclosure practices also suggests that, for small firms with limited analyst coverage, there are benefits to providing more forward‐looking information, such as forecasts of sales, profits, and capital expenditures, and enhanced disclosure of key non‐financial statistics, such as order backlogs, market share, and growth in units sold.In closing, the article also discusses an interesting new study (by Lang and Lundholm) that suggests there is an important distinction between effective corporate disclosure and “hyping the stock.” The findings of this study show that while higher levels of disclosures are associated with higher stock prices, sudden increases in the frequency of disclosure are viewed with skepticism.
BUYING AND SELLING COMPANIES IN THE NEW MILLENNIUM
Authors: BOSWELL STEWART 
Published: April 2005

The growth in corporate mergers and acquisitions in the 1990s has been nothing short of spectacular. Among the most important contributors to the growth of M&A are globalization and technological change, which are working together to create excess capacity in virtually all global industries. When industries are experiencing overcapacity, some degree of consolidation becomes inevitable, and M&A is a primary means for accomplishing consolidation.Although much of the dollar volume of M&A comes from the highly publicized mergers of large companies, by far the greatest number of transactions is taking place in the middle market—that is, companies with revenues less than $500 million or a market cap under $1 billion. Along with the sharp increase in middle‐market M&A, the author notes a relatively new financing practice in which private equity groups take large minority stakes in middle market companies. One factor contributing to this development, which the author calls “the small‐cap trap,” is that the stocks of small and mid‐sized public companies now appear to be trading “at large discounts to the values of their large‐cap peer group, even in cases where the operating performance of the smaller firms is better.” According to the author, the most plausible explanation for such discounts is the limited “float” of such companies; most receive little research coverage by Wall Street analysts and have limited institutional followings.After reviewing broad trends in M&A, the author offers some tips on designing a broad M&A strategy and conducting a selling process. One of the keys to the selling process is to create a sense of “exclusivity” among interested buyers without removing the pressure of competition. Consistent with the message of other articles in this issue, the author argues that one of the most reliable ways to create a sense of exclusivity is by providing good information, relatively full disclosure. Indeed, the disclosure should be sufficiently revealing that the initial bids are based on all relevant information.
HARVESTING VALUE FROM ENTREPRENEURIAL SUCCESS
Authors: Kensinger John W. , Martin John D. , William Petty J. 
Published: April 2005

This article discusses ways for entrepreneurs to gain liquidity from their businesses, either with or without a sale of the business. In today's financial arena there is a wide variety of methods and financing vehicles that can enable private companies to harvest liquidity to meet their own needs for growth, the consumption requirements of their founders, or the challenges of tax and estate planning. For companies with limited growth opportunities but fairly stable cash flows, the alternatives range from orderly liquidation to highly leveraged transfers of ownership such as those accomplished by leveraged buyouts, ESOPs, and mezzanine finance. For companies with abundant growth opportunities, value is typically maximized through sale to a strategic buyer or an initial public offering of equity (although a new hybrid called the “private IPO” has recently emerged that looks more like an LBO than an IPO).In order to achieve its full potential, a company should be financed in such a way that enables it to continue through its natural business lifecycle, regardless of whether that matches the human lifecycle of its founder. So long as leadership succession can be arranged, the business lifecycle can determine the course of the company. Indeed, selling the business is the value‐maximizing solution only if there is a strategic buyer willing to pay a premium above the business's stand‐alone value, or if the founder wants to withdraw from the business and has no preferred successor.Moreover, for the vast majority of companies, going public is not the recommended means for “cashing out.” An IPO is likely to be a value‐maximizing (and emotionally satisfying) experience only for (1) companies with valuable growth prospects that require funding for investment and (2) owner‐entrepreneurs who are willing to subject themselves to the scrutiny and fluctuations of the market.
TAX PROGRESSIVITY AND CORPORATE INCENTIVES TO HEDGE
Authors: Graham John R. , Smith Clifford W. 
Published: April 2005

If a company faces some form of tax progressivity—that is, its marginal tax rate increases over the firm's expected range of reported taxable income—corporate hedging can reduce the firm's expected tax liability by reducing the volatility of pre‐tax income. In a study described in this article, the authors used simulation methods to investigate the extent to which tax progressivity arises from various provisions of the tax code, such as the AMT and tax carryforwards and carrybacks. Based on their analysis of over 80,000 COMPUSTAT firm‐year observations, the authors find that, in about 50% of the cases, corporations face effective tax functions that exhibit progressivity. The other 50% of cases are about evenly divided between firms that are tax neutral and those facing tax schedules that are “regressive” (again, over the relevant range of expected reported income).For those companies facing progressive tax functions, the authors estimate that the projected average tax savings from a 5% reduction in the volatility of taxable income is about 5.4% of the expected tax liabilities. However, the distribution of expected reductions is highly skewed, in extreme cases exceeding 40% of the total tax liability. Most of these extreme cases are small to medium‐sized companies, since such firms are much more likely to meet the two conditions for achieving large tax benefits: (1) expected pretax income that is close to zero; and (2) sufficiently volatile income that the firm (in the absence of hedging) expects to report losses in some years. In sum, small to medium‐sized companies experience the greatest tax benefits from hedging.
Contemporary management of acute coronary syndrome
Authors: Large G A 
Published: April 2005

Abstract
This review focuses on the modern management of the non-ST elevation acute coronary syndromes (unstable angina and non-ST elevation myocardial infarction). Patients with these syndromes are at varying degrees of risk of (re)infarction and death. This risk can be reliably predicted by clinical, electrocardiographic, and biochemical markers. Aspirin, clopidogrel, heparin (unfractionated or low molecular weight), and anti-ischaemic drugs should be offered to all patients, irrespective of the predicted level of risk. Patients at high risk should also receive a glycoprotein IIb/IIIa receptor inhibitor and should undergo early coronary arteriography with a view to percutaneous or surgical revascularisation. Lower risk patients should undergo non-invasive testing. When inducible myocardial ischaemia is exhibited coronary arteriography should follow. When non-invasive testing is negative, a conservative management strategy is safe.
Substance misuse in the older population
Authors: McGrath A , Crome P , Crome I B 
Published: April 2005

Abstract
Substance misuse among the older population is largely overlooked and underreported. Many factors contribute to this, not least the fact that presentation may be atypical and hence easily missed by the medical practitioner. There may be many clues to its existence, provided the physician remains alert to these. Despite this it is quite comforting to know that once identified, the evidence to date suggests that older people may respond at least as well as younger people to treatment.
Acute liver failure: a message found under the skin
Authors: Meier M , Woywodt A , Hoeper M M , Schneider A , Manns M P , Strassburg C P 
Published: April 2005

Abstract
Acute liver failure is a rare syndrome with rapid progression and high mortality. It is characterised by the onset of coma and coagulopathy usually within six weeks but can occur up to six months after the onset of illness. Viral hepatitis, idiosyncratic drug induced liver injury, and acetaminophen ingestion are common causes. This report describes the case of a 35 year old man who presented with acute liver failure shortly after binge drinking. Repeated history taking disclosed a gluteal disulfiram implant that the patient had received to treat his alcohol dependence. The patient recovered with maximum supportive care after surgical removal but without liver transplantation. This case illustrates that only meticulous history taking will disclose the sometimes bewildering causes of acute liver failure.
Recurrent acute heart failure caused by sliding hiatus hernia
Authors: Siu C-W , Jim M-H , Ho H-H , Chu F , Chan H-W , Lau C-P , Tse H-F 
Published: April 2005

Abstract
The case is reported of a 75 year old woman who presented with recurrent nocturnal episodes of acute pulmonary oedema. The cause was uncertain as she had normal cardiothoracic ratio on chest radiography and normal left ventricular systolic and diastolic function by transthoracic echocardiogram. Another transthoracic echocardiogram was repeated when she was recumbent for an hour and had a full stomach. It showed a striking finding of severe left atrial compression by an external structure. Computed tomography of the thorax showed an intrathoracic mass behind the left atrium causing external compression of the left atrium suggestive of a sliding hiatus hernia. Cardiac catheterisation confirmed the diagnosis by showing a pronounced rise of pulmonary capillary wedge pressure in the recumbent position compared with the sitting up position.
Acute poisoning: understanding 90% of cases in a nutshell
Authors: Greene S L , Dargan P I , Jones A L 
Published: April 2005

Abstract
The acutely poisoned patient remains a common problem facing doctors working in acute medicine in the United Kingdom and worldwide. This review examines the initial management of the acutely poisoned patient. Aspects of general management are reviewed including immediate interventions, investigations, gastrointestinal decontamination techniques, use of antidotes, methods to increase poison elimination, and psychological assessment. More common and serious poisonings caused by paracetamol, salicylates, opioids, tricyclic antidepressants, selective serotonin reuptake inhibitors, benzodiazepines, non-steroidal anti-inflammatory drugs, and cocaine are discussed in detail. Specific aspects of common paediatric poisonings are reviewed.
Prospective study of acute gastrointestinal bleeding attributable to anti-inflammatory drug ingestion in the Yorkshire region of the United Kingdom
Authors: Lim C H , Heatley R V 
Published: April 2005

Abstract

Objective
To assess the general use of all non-steroidal anti-inflammatory drugs (NSAID) and their relation to upper gastrointestinal bleeding in view of National Institute for Clinical Excellence guidelines published in July 2001 in the UK.

Methods
Cross sectional study on all patients who were referred for endoscopy for suspected upper gastrointestinal bleeding in six hospitals in Yorkshire region of the UK.

Results
One hundred and sixty three patients presented for endoscopy for suspected upper gastrointestinal bleeding, 43 patients were taking at least one ulcerogenic drug, and 120 were not. The mean age difference between these two groups was eight years (p&lt;0.01). The absolute difference between the proportion of patients with peptic ulcer disease/erosion (PUD) in NSAID with/without aspirin group and no ulcerogenic drug group was 31% (p = 0.02). The difference between the proportion of PUD in cyclo-oxygenase 2 with/without aspirin group and no ulcerogenic drug group was 30% (p = 0.1). The overall 30 days mortality rate was 14.1%.

Conclusions
Elderly patients are being inappropriately prescribed conventional NSAIDs. NSAIDs with or without aspirin use are still associated with a significant risk of upper gastrointestinal bleeding in the era of cyclo-oxygenase 2 selective agents. Substitution with cyclo-oxygenase 2 selective NSAIDs is not without risk of upper gastrointestinal bleeding.
Retinal vein thrombosis associated with a herbal phytoestrogen preparation in a susceptible patient
Authors: Cheong J L , Bucknall R 
Published: April 2005

Abstract
A 55 year old woman, known to have systemic lupus erythematosus and protein S deficiency, presented with sudden onset of visual loss in the left eye. Three days previously, she took a herbal phytoestrogen preparation for relief of her menopausal symptoms. Ophthalmological assessment showed a left inferior hemiretinal vein thrombosis. The temporal relation between the onset of visual symptoms and ingestion of this herbal preparation suggested that in this patient with a prior non-manifest prothrombotic tendency, there may be an association between the development of retinal vein thrombosis and herbal phytoestrogen use.