bluuebunny/crossref_metadata_2025_split huggingface dataset:
Cardiotoxicity of digitalis glycosides: roles of autonomic pathways, autacoids and ion channels
Authors: Demiryürek A. T. , Demiryürek S. 
Published: March 2005

Summary 1 Cardiac glycosides have been used for centuries as therapeutic agents for the treatment of heart diaseases. In patients with heart failure, digoxin and the other glycosides exert their positive inotropic effect by inhibiting Na+–K+‐ATPase, thereby increasing intracellular sodium, which, in turn, inhibits the Na+/Ca2+ exchanger and increases intracellular calcium levels. As the therapeutic index of digitalis is narrow, arrhythmias are common problems in clinical practice. The mechanisms and mediators of these arrhythmias, however, are not completely understood. 2 The involvement of the sympathetic and parasympathetic nervous system in digitalis cardiac toxicity is reviewed. 3 Receptors, channels, exchange systems or other cellular components involved in digitalis‐induced cardiotoxicity are also reviewed. 4 Possible mediators of digitalis‐induced cardiac toxicity are discussed. 5 Management of digitalis toxicity in patients is summarized. 6 The determination of the possible mediators of digitalis‐induced cardiac toxicity will enhance our knowledge and lead to the development of new therapeutic strategies to treat these lethal arrhythmias.
Doxapram inhibits carotid sinus baroreceptors in rabbits
Authors: Osanai S. , Takahashi T. , Nakano H. , Kikuchi K. 
Published: March 2005

Summary 1 To clarify the effects of doxapram on the baroreflex, we recorded carotid sinus nerve (CSN) activity in isolated and perfused carotid artery bifurcations of rabbits. 2 The CSN activity due to chemoreceptor stimulation was blocked by resection of the nerve branches from the carotid body. After the resection, the CSN activity was correlated to increase of carotid sinus (CS) pressure. 3 Administration of doxapram reduced the CSN activity originating from baroreceptors. The effect of doxapram on baroreceptors was dose dependent and reversible. 4 It is unlikely that doxapram altered CS wall mechanics because CS pressure did not change in the presence of the drug. 5 We conclude that doxapram acts on the cardiovascular system in part by inhibiting the negative feedback loop that originates in CS baroreceptors.
A MICROCONSISTENT EQUILIBRIUM DATA SET FOR CANADA FOR USE IN TAX POLICY ANALYSIS
Authors: St‐Hilaire France , Whalley John 
Published: March 2005

In this paper we describe a micro consistent data set for Canada for 1972, assembled with general equilibrium tax policy analysis in mind. We stress the methodology used and in a number of tables report its main features.In the data set the separate detail contained in input‐output transactions tables, national accounts, household income and expenditure data, taxation statistics, foreign trade statistics, flow of funds and other sources is adjusted for mutual consistency. The final result is a micro consistent data set in which demands equal supplies for all products, zero profit conditions hold for industries and all agents’ demands satisfy their budget constraints.The motivation for data assembly is the currently widely used practice of calibrating “empirical” general equilibrium models so as to exactly reproduce a base year data observation as an equilibrium model solution. This procedure enables empirically based models to evaluate counterfactual equilibria in a way which corresponds to comparative static analysis in theoretical literature.More detail on the data set is available on request in appendices deleted from the published version of this paper due to space constraints.
Therapeutic potential of stem cells in perinatal medicine
Authors: SANTNER‐NANAN Brigitte , PEEK Michael J. , MCCULLAGH Peter , NANAN Ralph 
Published: March 2005

AbstractIncreasing evidence suggests that stem cells have tremendous potential to facilitate repair of damaged tissue and to exert protective influences that limit the extent of damage. Their inherent capacity to respond to signals generated by damaged tissue, migrate to these regions and either replace dead tissue or deliver protection by secretion of specific growth hormones and protective factors, suggests that they might have unrivalled therapeutic potential in perinatal medicine. A further potential of stem cells is their use in gene repair strategies for genetic disorders; an application which is exceedingly interesting from a perinatal perspective. Because of the relatively small size of infants and their capacity for future growth, stem cell therapy could be more successful in newborns than in older children or adults. In practical terms, the placenta, with its large reservoir of fetal blood, offers the ideal source of autologous stem cells. This affords the opportunity for stem cells to be collected and used, either directly ex vivo or after in vitro modulation, both for disorders in the neonatal period and for those arising later in life. The organs most affected from tissue damage in the neonatal period are the brain and the lung. So far, the most promising application of stem cells might be in the treatment of neurological injury. In this review we discuss recent research findings with adult stem cell therapy and their potential use in perinatal medicine. Furthermore, specific animal models suitable to explore the patho‐physiological mechanisms of stem cell transplantation after neurological injury will be discussed.This review gives an overview of basic science findings and their possible role for clinical application with regards to the therapeutic potential of stem cells in perinatal medicine. Medline was searched for journal selection in peer‐reviewed journals with high impact scores, which were relevant to this topic. All articles were in English and the search was not limited by publication year. However, the oldest publication was dated 1988 (reference 1).
Ultrasound localisation of non‐palpable Implanon
Authors: PIESSENS Sofie G. , PALMER Diane C. , SAMPSON Amanda J. 
Published: March 2005

AbstractBackground:  Localisation of the non‐palpable Implanon is useful to confirm its presence or to assist the surgeon with its removal. Previous studies have suggested that almost all non‐palpable Implanon implants can be located with ultrasound in phantoms.Aim:  To determine whether diagnostic ultrasound is a reliable method for localising non‐palpable Implanon implant in‐vivo.Methods:  Ultrasound was carried out to localise the non‐palpable Implanon implant. To ascertain the accuracy of the ultrasound findings, all patients were followed‐up until the implant was removed or until it was proven absent by serial progesterone levels confirming ovulation or by negative etonogestrel levels.Results:  In 22 out of 23 patients the Implanon was correctly identified as present. The specificity is 95.7% (95%CI 79.0–99.2%), the positive predictive value is also 95.7%. In six out of seven patients the Implanon was correctly identified as absent. The sensitivity is 85.7% (95%CI 48.7–97.4%), the negative predictive value is also 85.7%. Four patients were excluded due to incomplete follow‐up.Conclusion:  Ultrasound is a reliable first line method for localising non‐palpable Implanon. When the Implanon is localised on ultrasound, it is very likely present. When the Implanon is not seen on ultrasound, etonogestrel determination should be carried out to confirm its absence.
STOCK SPLITS AND MARKET ANOMALIES
Authors: Nichols William D. , McDonald Bill 
Published: March 2005

AbstractPrevious studies of market efficiency have reported conflicting results when examining stock splits. Recent studies reporting market inefficiencies have made several methodological improvements, but have failed to control for the possible confounding effects of “unexpected” changes in corporate earnings announced near the stock split event. Stock splits are often issued around the time that firms experience large increases in corporate earnings. Therefore, an explicit treatment of earnings announcements in an event study of stock splits may yield further insights. This study found no market inefficiencies associated with splitting securities that experienced moderate changes in corporate earnings. However, anomalies were associated with splitting securities that experienced large increases in corporate earnings. These results suggest that previous findings of market inefficiencies, attributable solely to the stock split event, may be due in part to unexpected changes in corporate earnings.
EX‐ANTE EXPECTATIONS AND PORTFOLIO SELECTION
Authors: McInish Thomas H. , Srivastav Rajendra K. 
Published: March 2005

AbstractThis paper examines differences among investors who are relatively optimistic/pessimistic regarding the performance of the stock market in terms of portfolio composition and trading activity. Findings indicate that investors more pessimistic regarding the stock market are likely to: (1) channel their funds into leveraged and tax advantageous investments, and (2) trade less frequently on the stock market.
LIQUIDITY AND PRICE VARIABILITY IN FUTURES MARKETS
Authors: Milonas Nikolaos T. 
Published: March 2005

ABSTRACTThis paper tests the hypothesis that market liquidity affects the price variability of futures contracts. The analyses used take into account the maturity effect and various sources of nonstationarity. Empirical testing involved eleven commodities in various markets. The evidence strongly suggests that futures contracts in distant and thinly traded months exhibit different price variability than contracts in near to maturity and liquid traded months, and that the behavior is commodity dependent. These findings could help investors better evaluate risks and provide a better basis for hedging strategies. Also, monthly averages of open interest can be used interchangeably with volume to measure liquidity in determining which pattern applies to a given commodity.
CAPTIVE FINANCE SUBSIDIARIES: OVERVIEW AND SYNTHESIS
Authors: Fooladi Iraj , Roberts Gordon , Viscione Jerry 
Published: March 2005

ABSTRACTA captive finance company is a wholly owned subsidiary whose primary business is to finance the sales of the parent's products and services. Despite the continued growth and long history of captive finance companies, the issue of the economic impact of forming a captive remains controversial. Some view captive finance subsidiaries as unnecessary structures that may actually reduce the value of the firm. Others hold that captives can produce benefits that will increase firm value. The primary purpose of this paper is to provide an overview of the finance academic literature and to suggest direction for future research.
THE POSSIBILITY OF ESTIMATING RISK PREMIA IN ASSET PRICING MODELS
Authors: Sweeney Richard J. , Warga Arthur D. 
Published: March 2005

ABSTRACTThe authors show that estimates of risk premia on the market based on capital asset pricing models or arbitrage pricing theories can only be estimates of the ex post or sample risk premium on the market and cannot be interpreted as better estimates of the ex ante premium than those provided by sample averages of data. The ex ante premium drops out of the generating function for the returns used in the second‐pass regressions. Although previous estimates of nonmarket premia have failed to take appropriate account of the population mean, that mean can in fact be estimated and appropriate adjustments made. Various approaches to estimating the ex ante risk premium and the population mean are discussed.
EVALUATING CASH FLOW SYSTEMS UNDER GROWTH
Authors: Lanser Howard P. , Halloran John A. 
Published: March 2005

ABSTRACTThis paper considers a potential extension and refinement of the type of cash flow analysis of cash management systems commonly found in financial management texts. The timing effect of a cash management system has three distinct components—overlap, acceleration, and residual. However, only the overlap component is explicitly quantified by the standard evaluation procedure. Conditions are specified under which quantification of an additional component (acceleration) can significantly improve the accuracy of the estimates.
SHORT‐TERM BONUS PLAN ADOPTION AND STOCK MARKET PERFORMANCE—PROXY AND INDUSTRY EFFECTS: A NOTE
Authors: Tehranian Hassan , Waegelein James F. 
Published: March 2005

ABSTRACTThis note extends previous studies and further examines the market reaction to short‐term executive compensation plan introduction by using a larger sample and controling for proxy and industry effects. Results indicate significantly positive abnormal returns not due to proxy or industry effects in the four months before adoption and the month of adoption. The price adjustment is not instantaneous. Firms adopting short‐term compensation plans also experience significantly positive abnormal returns ten months after announcement, associated with positive unexpected earnings in that month.
ON THE RATIONALITY OF COMMON STOCK RETURN VOLATILITY
Authors: Ronn Ehud I. 
Published: March 2005

ABSTRACTThis paper derives the relationship between the population unconditional variance of common stock returns and the variance of expected returns conditional on a well‐specified information set. As a consequence, a lower bound is obtained for the variance of common stock returns. The sample counterpart of this bound is then empirically tested against the sample variance of returns. The paper's main conclusion can be stated as follows: the observed volatility of real (inflation‐adjusted) common stock returns is not “irrationally” large. The paper admits of this conclusion because the point estimate of the lower‐bound variance derived in this model is actually larger than the point estimate of common stock return volatility. However, since these point estimates are found to have a statistically insignificant difference, equality of the two variances cannot be ruled out. Hence, “rationality” of common stock returns—as implied by a utility‐based valuation conditional on a specified information set—cannot be rejected.
FOREIGN‐CURRENCY OPTIONS, EX ANTE EXCHANGE‐RATE VOLATILITY, AND MARKET EFFICIENCY: AN EMPIRICAL TEST
Authors: Johnson Larry J. 
Published: March 2005

ABSTRACT“The currency option's attraction results from the volatility of foreign‐exchange markets, where rates can move as much as 3 percent in a day” (M. Sesit, Wall Street Journal, April 20, 1984, p. 25). This study compares the foreign‐exchange rate implicit volatility of call options and put options that are written on a foreign currency. These implicit volatilities should be equal, and equal to the volatility of the proportional change in the exchange rate, given that option prices are efficient and that the foreign‐currency option pricing model described by Biger and Hull holds. The foreign‐currency options that are examined in this study are the British pound, Canadian dollar, Japanese yen, Swiss franc, and West German mark. The results of this study support the notions of market efficiency and put‐call parity.
THE INFORMATIONAL VALUE OF LISTING ON THE NEW YORK STOCK EXCHANGE
Authors: Grammatikos Theoharry , Papaioannou George J. 
Published: March 2005

ABSTRACTIn this paper, the authors test market reaction to the listing of a stock on the New York Stock Exchange independently from other attendant news and test the hypothesis that listing has different informational value for stocks that have performed differently in the prelisting period. Their findings support the argument that listing conveys positive information. Listing is observed to be of most value for firms with ambiguous earnings performance.
THE PERFORMANCE MEASUREMENT AND EVALUATION OF A CORPORATE RETIREMENT PLAN: A CASE STUDY
Authors: Michas Nicholas A. 
Published: March 2005

ABSTRACTThis paper is based on an actual study of a pooled profit‐sharing plan sponsored by a Fortune 50 company from September 1978 to June 1983. The purpose of performance measurement is to identify skill at portfolio management and provide evidence indicating whether performance coincides with the investment skills claimed by the portfolio manager. The approach here is to apply the security market line analysis suggested by Fama. Characteristic lines were determined for the plan portfolio allowing the calculation for alpha, the Jensen differential performance index, beta, and R2. Tests are made to determine if the investment manager was able to achieve superior performance by shifting portfolio market sensitivity in anticipation of major market moves (market‐timing effect) and/or selecting undervalued securities (security‐selection effect).
A MEASUREMENT OF THE ERRORS IN INTRA‐PERIOD COMPOUNDING AND BOND VALUATION
Authors: Lindley James T. , Helms Billy P. , Haddad Mahmoud 
Published: March 2005

ABSTRACTThe errors in intra‐period compounding and bond pricing are widespread in textbooks, and they also periodically occur in published research. This article deals with the measurement of error and the magnitude of error when, given the market price of other than annual bonds, the yield to maturity is calculated using the incorrect formula. The authors demonstrate that the errors are (1) the result of confusion, not oversight, (2) large in magnitude when the effective yearly interest rate is high, and (3) not symmetrical; that is, the characteristics of the errors when determining yields, given bond prices, differ from the characteristics of the errors when determining bond prices, given interest rates.
THE IMPACT OF SPLIT BOND RATINGS ON RISK PREMIA
Authors: Liu Pu , Moore William T. 
Published: March 2005

ABSTRACTInterest rates for bonds are negatively correlated with credit ratings assigned by agencies such as Moody's Investor Service and Standard & Poor's. Still in dispute is whether or not the ratings themselves convey information that is reflected in prices, hence interest rates in the bond markets. Disagreement between these two agencies' ratings leads to “split” ratings, and in this paper, the authors use the phenomenon of split ratings to assess whether or not ratings have a separate impact on bond prices. The results indicate that a downside split appears to have greater bond yield impact than an upside split. The findings are inconsistent with bond market efficiency, at least in the strong form. The market considers the quality of a split‐rated bond to reflect the lower of the two ratings. Finally, the symmetry of the results with respect to the ratings agencies indicates that neither agency has more influence than the other in determining bond yields.
FURTHER INSIGHT INTO THE STANDARDIZED UNEXPECTED EARNINGS ANOMALY: SIZE AND SERIAL CORRELATION EFFECTS
Authors: Rendleman Richard J. , Jones Charles P. , Latané Henry A. 
Published: March 2005

ABSTRACTStudying size and serial correlation effects, the authors examine why portfolios selected on the basis of standardized unexpected earnings (SUEs) exhibit excess returns. Results of the study indicate that the SUE effect and the size effect are independent anomalies; however, a more plausible explanation of the SUE effect may involve serial correlation of SUEs. The authors demonstrate that more than half of the post‐announcement responses to current quarter earnings may actually be pre‐announcement adjustments to next quarter's earnings.
MARKET POWER AND THE REQUIRED RETURN TO ELECTRIC UTILITIES
Authors: Goldenberg David H. 
Published: March 2005

ABSTRACTRecent tests of the ability of powerful firms to reduce their costs of equity capital through a reduction in the systematic risks of their common stock have generated mixed empirical support. This article tests the joint hypothesis of imperfect regulation and of a negative relationship between market power and the betas of a sample of regulated utilities. This study explicitly recognizes beta and alpha instability by estimating the nonstationary parameter market model in a one‐step procedure using econometric methods that efficiently utilize the available cross sectional time‐series data. Further, market value measures of financial leverage are computed and used in the tests as required by theory.
BIASES IN PERFORMANCE MEASUREMENT DURING CONTRIBUTIONS: A NOTE
Authors: Stewart Scott D. 
Published: March 2005

ABSTRACTThis note demonstrates that a statistical error (e.g., due to pricing error) made in valuing an investment fund at the time of an intra‐period contribution leads to an error in calculating the period's total return, even if the fund was valued correctly at the beginning and end of the period. On average, even if the valuation error is distributed randomly with mean zero, the fund's performance will be biased.
THE ADJUSTMENT OF STOCK PRICES TO COMPLETELY UNANTICIPATED EVENTS
Authors: Barrett W. Brian , Heuson Andrea J. , Kolb Robert W. , Schropp Gabriele H. 
Published: March 2005

ABSTRACTThis paper utilizes standard cumulative residual analysis to study the response of stock prices to completely unanticipated events—fatal commercial airline crashes. Results indicate that the immediate negative reaction to fatal airline crashes is significant for only one full trading day after the event occurs. Hence, the market appears to assimilate the new information rapidly, even if the crash occurs in a remote geographic location. The paper also considers market response after the initial reaction period by assuming that the actual cumulative average residuals are drawn from the same distribution as the pre‐crash base period and by calculating the probabilities that observed changes would occur. Results provide no evidence that underreaction or overreaction appeared in the initial response period. The hypothesis of complete, immediate adjustment is also supported by a repetition of the analysis on the subsample of airplane crashes where the greatest potential loss occurs.
AGGREGATION ACROSS HETEROGENEOUS DEPOSITORY INSTITUTIONS
Authors: Gooptu Sudarshan , Lombra Raymond 
Published: March 2005

ABSTRACTFinancial models usually proceed “as if” aggregation across heterogeneous financial intermediaries suppresses little information. The presumption is that the relevant set of relative yields remains essentially constant over time across intermediaries. Drawing on the fact that objective functions differ across intermediaries, we present theoretical evidence and data that question standard practice and suggest proceeding “as if” such differences exist and matter.
GAINS TO BIDDER FIRMS IN CASH AND SECURITIES TRANSACTIONS
Authors: Wansley James W. , Lane William R. , Yang Ho C. 
Published: March 2005

ABSTRACTThis paper presents empirical test results of alternative hypotheses regarding differences in returns to shareholders of bidding firms that choose different payment methods (cash or securities). The evidence is consistent with the payment method signaling hypothesis, which asserts that when management of the bidding firm believes its own stock to be overvalued (undervalued), securities (cash) will be the preferred payment method. The results are not consistent with either the overpayment hypothesis or the present value/hubris hypothesis. The findings also explain the conflicting results reported in prior work on gains to bidding firms.