Co-movements of REIT indices with structural changes before and during the subprime mortgage crisis: evidence from Euro-Med markets

This paper examines the long-run relationships between the REIT indices of the UK, Turkey and Israel in the Euro-Med zone with that of MSCI US REIT Index by using weekly data over the period 2003Q3 through 2009Q3, which includes the latest US subprime mortgage crisis and its effects on global stock markets. Although our EG test results do not indicate a long-run relationship, after taking account of the structural changes by applying the GH test, we find a long-run interaction between the REIT indices of UK and Israel with that of the US. However, our results indicate the lack of co-movement between REIT index of Turkey with the US. In addition, our dynamic OLS test results indicate a perfect relationship between the UK and the US indices. Our findings show that international investors who make long-term investments can only gain from diversifying into the real estate market of Turkey among the involved markets in the Euro-Med zone

Lay Perspectives on Receiving Different Types of Genomic Secondary Findings : a Qualitative Vignette Study

available at: https://rdcu.be/4BhDGenome-wide sequencing may generate secondary findings (SFs). It is recommended that validated, clinically actionable SFs are reported back to patients/research participants. To explore publics’ perspectives on the best ways to do this, we performed a vignette study among Finnish adults. Our aim was to explore how lay people react to different types of hypothetical genomic SFs. Participants received a hypothetical letter revealing a SF predisposing to a severe but actionable disease - cardiovascular disease (familial hypercholesterolemia, long QT syndrome) or cancer (Lynch syndrome, Li–Fraumeni syndrome). Participants (N=29) wrote down their initial reactions, and discussed (N=23) these in focus groups. Data were analyzed using inductive thematic analysis. Reactions to hypothetical SFs varied according to perceived severity and familiarity of the diseases. SFs for cancer were perceived as more threatening than for cardiovascular diseases, but less distressing than risk for psychiatric or neurological disorders, which participants spontaneously brought up. Illness severity in terms of lived experience, availability of treatment, stigma, and individual’s responsibility to control risk were perceived to vary across these disease types. In addition to clinical validity and utility, SF reporting practices need to take into account potential familiarity and lay illness representations of different diseases. Illness representations may influence willingness to receive SFs, and individuals’ reactions to this information.Peer reviewe

COVID-19 first lockdown as a window into language acquisition: Associations between caregiver-child activities and vocabulary gains

The COVID-19 pandemic, and the resulting closure of daycare centers worldwide, led to unprecedented changes in children’s learning environments. This period of increased time at home with caregivers, with limited access to external sources (e.g., daycares) provides a unique opportunity to examine the associations between the caregiver-child activities and children’s language development. The vocabularies of 1742 children aged8-36 months across 13 countries and 12 languages were evaluated at the beginning and end of the first lockdown period in their respective countries(from March to September 2020). Children who had less passive screen exposure and whose caregivers read more to them showed larger gains in vocabulary development during lockdown, after controlling for SES and other caregiver-child activities. Children also gained more words than expected (based on normative data) during lockdown; either caregivers were more aware of their child’s development or vocabulary development benefited from intense caregiver-child interaction during lockdown

A multiobjective model for passive portfolio management: an application on the S&P 100 index

This is an author's accepted manuscript of an article published in: “Journal of Business Economics and Management"; Volume 14, Issue 4, 2013; copyright Taylor & Francis; available online at: http://dx.doi.org/10.3846/16111699.2012.668859Index tracking seeks to minimize the unsystematic risk component by imitating the movements of a reference index. Partial index tracking only considers a subset of the stocks in the index, enabling a substantial cost reduction in comparison with full tracking. Nevertheless, when heterogeneous investment profiles are to be satisfied, traditional index tracking techniques may need different stocks to build the different portfolios. The aim of this paper is to propose a methodology that enables a fund s manager to satisfy different clients investment profiles but using in all cases the same subset of stocks, and considering not only one particular criterion but a compromise between several criteria. For this purpose we use a mathematical programming model that considers the tracking error variance, the excess return and the variance of the portfolio plus the curvature of the tracking frontier. The curvature is not defined for a particular portfolio, but for all the portfolios in the tracking frontier. This way funds managers can offer their clients a wide range of risk-return combinations just picking the appropriate portfolio in the frontier, all of these portfolios sharing the same shares but with different weights. An example of our proposal is applied on the S&P 100.García García, F.; Guijarro Martínez, F.; Moya Clemente, I. (2013). A multiobjective model for passive portfolio management: an application on the S&P 100 index. Journal of Business Economics and Management. 14(4):758-775. doi:10.3846/16111699.2012.668859S758775144Aktan, B., Korsakienė, R., & Smaliukienė, R. (2010). TIME‐VARYING VOLATILITY MODELLING OF BALTIC STOCK MARKETS. Journal of Business Economics and Management, 11(3), 511-532. doi:10.3846/jbem.2010.25Ballestero, E., & Romero, C. (1991). A theorem connecting utility function optimization and compromise programming. Operations Research Letters, 10(7), 421-427. doi:10.1016/0167-6377(91)90045-qBeasley, J. E. (1990). OR-Library: Distributing Test Problems by Electronic Mail. Journal of the Operational Research Society, 41(11), 1069-1072. doi:10.1057/jors.1990.166Beasley, J. E., Meade, N., & Chang, T.-J. (2003). An evolutionary heuristic for the index tracking problem. European Journal of Operational Research, 148(3), 621-643. doi:10.1016/s0377-2217(02)00425-3Canakgoz, N. A., & Beasley, J. E. (2009). Mixed-integer programming approaches for index tracking and enhanced indexation. European Journal of Operational Research, 196(1), 384-399. doi:10.1016/j.ejor.2008.03.015Connor, G., & Leland, H. (1995). Cash Management for Index Tracking. Financial Analysts Journal, 51(6), 75-80. doi:10.2469/faj.v51.n6.1952Corielli, F., & Marcellino, M. (2006). Factor based index tracking. Journal of Banking & Finance, 30(8), 2215-2233. doi:10.1016/j.jbankfin.2005.07.012Derigs, U., & Nickel, N.-H. (2004). On a Local-Search Heuristic for a Class of Tracking Error Minimization Problems in Portfolio Management. Annals of Operations Research, 131(1-4), 45-77. doi:10.1023/b:anor.0000039512.98833.5aDose, C., & Cincotti, S. (2005). Clustering of financial time series with application to index and enhanced index tracking portfolio. Physica A: Statistical Mechanics and its Applications, 355(1), 145-151. doi:10.1016/j.physa.2005.02.078Focardi, S. M., & Fabozzi 3, F. J. (2004). A methodology for index tracking based on time-series clustering. Quantitative Finance, 4(4), 417-425. doi:10.1080/14697680400008668Gaivoronski, A. A., Krylov, S., & van der Wijst, N. (2005). Optimal portfolio selection and dynamic benchmark tracking. European Journal of Operational Research, 163(1), 115-131. doi:10.1016/j.ejor.2003.12.001Hallerbach, W. G., & Spronk, J. (2002). The relevance of MCDM for financial decisions. Journal of Multi-Criteria Decision Analysis, 11(4-5), 187-195. doi:10.1002/mcda.328Jarrett, J. E., & Schilling, J. (2008). DAILY VARIATION AND PREDICTING STOCK MARKET RETURNS FOR THE FRANKFURTER BÖRSE (STOCK MARKET). Journal of Business Economics and Management, 9(3), 189-198. doi:10.3846/1611-1699.2008.9.189-198Roll, R. (1992). A Mean/Variance Analysis of Tracking Error. The Journal of Portfolio Management, 18(4), 13-22. doi:10.3905/jpm.1992.701922Rudolf, M., Wolter, H.-J., & Zimmermann, H. (1999). A linear model for tracking error minimization. Journal of Banking & Finance, 23(1), 85-103. doi:10.1016/s0378-4266(98)00076-4Ruiz-Torrubiano, R., & Suárez, A. (2008). A hybrid optimization approach to index tracking. Annals of Operations Research, 166(1), 57-71. doi:10.1007/s10479-008-0404-4Rutkauskas, A. V., & Stasytyte, V. (s. f.). Decision Making Strategies in Global Exchange and Capital Markets. Advances and Innovations in Systems, Computing Sciences and Software Engineering, 17-22. doi:10.1007/978-1-4020-6264-3_4Tabata, Y., & Takeda, E. (1995). Bicriteria Optimization Problem of Designing an Index Fund. Journal of the Operational Research Society, 46(8), 1023-1032. doi:10.1057/jors.1995.139Teresienė, D. (2009). LITHUANIAN STOCK MARKET ANALYSIS USING A SET OF GARCH MODELS. Journal of Business Economics and Management, 10(4), 349-360. doi:10.3846/1611-1699.2009.10.349-36

Novel Marine Phenazines as Potential Cancer Chemopreventive and Anti-Inflammatory Agents

Two new (1 and 2) and one known phenazine derivative (lavanducyanin, 3) were isolated and identified from the fermentation broth of a marine-derived Streptomyces sp. (strain CNS284). In mammalian cell culture studies, compounds 1, 2 and 3 inhibited TNF-α-induced NFκB activity (IC50 values of 4.1, 24.2, and 16.3 μM, respectively) and LPS-induced nitric oxide production (IC50 values of >48.6, 15.1, and 8.0 μM, respectively). PGE2 production was blocked with greater efficacy (IC50 values of 7.5, 0.89, and 0.63 μM, respectively), possibly due to inhibition of cyclooxygenases in addition to the expression of COX-2. Treatment of cultured HL-60 cells led to dose-dependent accumulation in the subG1 compartment of the cell cycle, as a result of apoptosis. These data provide greater insight on the biological potential of phenazine derivatives, and some guidance on how various substituents may alter potential anti-inflammatory and anti-cancer effects

Limitations and pitfalls of using family letters to communicate genetic risk: a qualitative study with patients and healthcare professionals

European genetic testing guidelines recommend that healthcare professionals (HCPs) discuss the familial implications of any test with a patient and offer written material to help them share the information with family members. Giving patients these “family letters” to alert any relatives of their risk has become part of standard practice and has gone relatively unquestioned over the years. Communication with at-risk relatives will become an increasingly pressing issue as mainstream and routine practice incorporates broad genome tests and as the number of findings potentially relevant to relatives increases. This study therefore explores problems around the use of family letters to communicate about genetic risk. We conducted 16 focus groups with 80 HCPs, and 35 interviews with patients, recruited from across the UK. Data were analyzed thematically and we constructed four themes: 1) HCPs writing family letters: how to write them and why?, 2) Patients’ issues with handing out family letters, 3) Dissemination becomes an uncontrolled form of communication, and 4) When the relative has the letter, is the patient’s and HCP’s duty discharged? We conclude by suggesting alternative and supplementary methods of communication, for example through digital tools, and propose that in comparison to communication by family letter, direct contact by HCPs might be a more appropriate and successful option

Ginger inhibits cell growth and modulates angiogenic factors in ovarian cancer cells

<p>Abstract</p> <p>Background</p> <p>Ginger (<it>Zingiber officinale </it>Rosc) is a natural dietary component with antioxidant and anticarcinogenic properties. The ginger component [6]-gingerol has been shown to exert anti-inflammatory effects through mediation of NF-κB. NF-κB can be constitutively activated in epithelial ovarian cancer cells and may contribute towards increased transcription and translation of angiogenic factors. In the present study, we investigated the effect of ginger on tumor cell growth and modulation of angiogenic factors in ovarian cancer cells <it>in vitro</it>.</p> <p>Methods</p> <p>The effect of ginger and the major ginger components on cell growth was determined in a panel of epithelial ovarian cancer cell lines. Activation of NF-κB and and production of VEGF and IL-8 was determined in the presence or absence of ginger.</p> <p>Results</p> <p>Ginger treatment of cultured ovarian cancer cells induced profound growth inhibition in all cell lines tested. We found that <it>in vitro</it>, 6-shogaol is the most active of the individual ginger components tested. Ginger treatment resulted in inhibition of NF-kB activation as well as diminished secretion of VEGF and IL-8.</p> <p>Conclusion</p> <p>Ginger inhibits growth and modulates secretion of angiogenic factors in ovarian cancer cells. The use of dietary agents such as ginger may have potential in the treatment and prevention of ovarian cancer.</p