Re-estimation and comparisons of alternative accounting based bankruptcy prediction models for Indian companies

Background: The suitability and performance of the bankruptcy prediction models is an empirical question. The aim of this paper is to develop a bankruptcy prediction model for Indian manufacturing companies on a sample of 208 companies consisting of an equal number of defaulted and non-defaulted firms. Out of 208 companies, 130 are used for estimation sample, and 78 are holdout for model validation. The study reestimates the accounting based models such as Altman EI (Journal of Finance 23: 19189-209, 1968) Z-Score, Ohlson JA (Journal of Accounting Research 18:109-131, 1980) Y-Score and Zmijewski ME (Journal of Accounting Research 22:59-82, 1984) X-Score model. The paper compares original and re-estimated models to explore the sensitivity of these models towards the change in time periods and financial conditions. Methods: Multiple Discriminant Analysis (MDA) and Probit techniques are employed in the estimation of Z-Score and X-Score models, whereas Logit technique is employed in the estimation of Y-Score and the newly proposed models. The performance of all the original, re-estimated and new proposed models are assessed by predictive accuracy, significance of parameters, long-range accuracy, secondary sample and Receiver Operating Characteristic (ROC) tests. Results: The major findings of the study reveal that the overall predictive accuracy of all the three models improves on estimation and holdout sample when the coefficients are re-estimated. Amongst the contesting models, the new bankruptcy prediction model outperforms other models. Conclusions: The industry specific model should be developed with the new combinations of financial ratios to predict bankruptcy of the firms in a particular country. The study further suggests the coefficients of the models are sensitive to time periods and financial condition. Hence, researchers should be cautioned while choosing the models for bankruptcy prediction to recalculate the models by looking at the recent data in order to get higher predictive accuracy

A comparative study of ultrasonography versus peripheral nerve stimulator-guided obturator nerve block for transurethral resection of bladder tumor under spinal anesthesia

Background: Transurethral resection of bladder tumor (TURBT) is usually done spinal anesthesia but it does not prevent the obturator reflex leading to bladder perforation, bleeding, or incompletely resection of resection of the tumor which could be prevented by obturator nerve block (ONB) in TURBT. Aims and Objectives: The aim of our study is to compare the effectiveness of ONB by peripheral nerve stimulator (PNS) and ultrasonography (USG) in TURBT and also compare morbidity between USG- and PNS-guided ONB in TURBT under spinal anesthesia. Materials and Methods: Sixty patients were randomly divided into two groups. Group (1) patients had a PNS-guided ONB and Group (2) patients had ONB-guided ONB. The presence or absence of adductor muscles reflexes was recorded. Bladder perforation and bleeding during surgery were also recorded. Results: A success rate of 90% was achieved in the Group (2) compared to 66% in Group (1) which was clinically significant with P=0.049. Complete bladder perforation was detected in four patients in Group (1) whereas no perforation was observed in Group (2). Bleeding was observed in both groups but severe bleeding was present in five patients in Group (1) and required a blood transfusion. Conclusion: We concluded that USG-guided ONB is more efficient and safer as compared to PNS-guided ONB

Ultrasound Guided versus Peripheral Nerve Stimulator Guided Transversus Abdominis Plane Block for Postoperative Analgesia in Patients undergoing Laparoscopic Cholecystectomy: A Randomised Clinical Study

Introduction: The Transversus Abdominis Plane (TAP) block is a relatively simple technique that provides analgesia that, as part of a multimodal analgesic treatment, may be useful in the prevention of postoperative pain. Ultrasound (USG) versus Peripheral Nerve Stimulator (PNS) guided TAP blocks are being frequently given postoperatively for pain these days in laparoscopic cholecystectomy. Aim: To assess the analgesic efficacy of USG guided and PNS guided transversus abdominis plane block in patients undergoing laparoscopic cholecystectomy. Materials and Methods: The randomised clinical study was conducted in the Department of Anaesthesiology, Shyam Shah Medical College, Rewa, Madhya Pradesh, India, from March 2020 to June 2021. Total 90 adult patients were enrolled and randomly allocated into three groups. Group 1 (n=30) received bilateral USG guided TAP block with 20 mL of 0.375% ropivacaine along with standard postoperative analgesia regimen. Group 2 (n=30) received bilateral PNS guided TAP block with 20 mL 0.375% ropivacaine along with standard postoperative analgesia regimen. Group 3 (Control) (n=30) received standard postoperative analgesia regimen consisting of inj. paracetamol iv 1 gm (six hourly) and inj. diclofenac 75 mg i.v. (12 hourly). Each patient was assessed for VAS score, duration of analgesia, total analgesic consumption and patient satisfaction for 24 hours postoperatively. Results: The average mean VAS score in first 24 hrs was 2.04±0.80 in group 1, 2.10±0.70 in group 2 and 3.18±0.63 in group 3. The duration of analgesia was least in group 3 (5.8±2.31 hrs) followed by group 2 (9.67±2.47 hrs) and maximum in group 1 (11.87±2.97 hrs). The total tramadol requirement in first 24 hours postoperatively was 126.67±44.98 mg in group 1, 140±62.15 mg in group 2 and 226.67±63.97 mg in group 3. Conclusion: Postoperative analgesia with USG and PNS guided TAP block enables better pain control and less analgesic consumption. PNS guided TAP block is good alternative when compared with control for postoperative analgesia when USG machine is not available

Pharmacokinetics of Second-Line Antituberculosis Drugs in Children with Multidrug-Resistant Tuberculosis in India

ABSTRACT We studied the pharmacokinetics of levofloxacin (LFX), pyrazinamide (PZA), ethionamide (ETH), and cycloserine (CS) in children with multidrug-resistant tuberculosis (MDR-TB) who were being treated according to the Revised National TB Control Programme (RNTCP) guidelines in India. This observational, pharmacokinetic study was conducted in 25 children with MDR-TB at the Sarojini Naidu Medical College, Agra, India, who were being treated with a 24-month daily regimen. Serial blood samples were collected after directly observed administration of drugs. Estimations of plasma LFX, PZA, ETH, and CS were undertaken according to validated methods by high-performance liquid chromatography. Adverse events were noted at 6 months of treatment. The peak concentration ( C max ) of LFX was significantly higher in female than male children (11.5 μg/ml versus 7.3 μg/ml; P = 0.017). Children below 12 years of age had significantly higher ETH exposure (area under the concentration-time curve from 0 to 8 h [AUC 0–8 ]) than those above 12 years of age (17.5 μg/ml · h versus 9.4 μg/ml; P = 0.030). Multiple linear regression analysis showed significant influence of gender on C max of ETH and age on C max and AUC 0–8 of CS. This is the first and only study from India reporting on the pharmacokinetics of LFX, ETH, PZA, and CS in children with MDR-TB treated in the Government of India program. More studies on the safety and pharmacokinetics of second-line anti-TB drugs in children with MDR-TB from different settings are required. </jats:p

Coke resistant coating technology for applications in ethylene pyrolysis heaters

This dissertation begins with a description of the history of the events leading to ethylene pyrolysis tube failure. During service, hydrocarbons pass through the radiant heater coils at temperatures up to ∼ 1100 C. The catalytic activity between the feedstock and the tube wall leads to heterogeneous coke formation. The accumulation of coke, a homogeneous event, leads to localized temperature excursions, pressure variations, and potential tube plugging which all play a significant role in premature tube failure by creep and stress rupture. During normal operation, the tube metal temperature is frequently reduced to pass high pressure steam or steam air mixtures through the tubing to eliminate coke, a process know as decoking. At ∼ 1100 C, depending on the materials of construction, a variety of topologically close packed phases (η, M 23C6, σ, M7C3, etc.) form which can lead to premature tube failure by embrittlement during the decoke cycles. In this dissertation, two techniques are discussed which have the potential for overcoming premature tube failure: (1) upgrading the metallurgy to a material that forms a protective oxide coating at the service temperature and also shows resistance to the formation of topologically closed pack phases and (2) a novel technique which can deposit coke resisting coating on the inner diameter of pyrolysis tubing

Predicting probability of default of Indian companies: A market based approach

The paper models default probabilities for Indian companies in Black-Scholes- Metron (BSM) framework. The objective Probability of Default (PD) estimates are found to be higher for firms registered with Board of Industrial and Financial Reconstruction (BIFR). The proposed method can be applied to obtain direct PD estimates of companies to track their default status, calculate credit capital and corporate pricing by investors and financial institutions

Effect of Integrated Nutrient Management on Flowering and Fruiting Behavior of Aonla Cv. Francis

The present investigation was carried with aim to know the effect of integrated nutrient management on fruiting of aonla cv. Francis. The experiment was conducted in two consecutive years. The experiment comprised of ten treatments, replicated thrice with randomized block Design. The study revealed the fruit set and retention per cent for both the year was noted maximum with the use of T7, whereas T6 was found to equally good with T1. The maximum fruit size was recorded with the use of T7 during both the year which was at par with the soil application T6. The study concluded that the application of 75% RDF + 30 kg Vermicompost+ 250g Azotobacter+ 250g PSB produced quality fruit yield

Impact of Integrated Nutrient Management of Biochemical Attributeson Aonla (Ebmblica officinallis Garetn.)

The investigation was carried out with the aim of knowing the effect of integrated nutrient management on the fruiting of Aonla cv. Francis. The Experiment was conducted in two consecutive years. The experiment comprised of thirteen treatments, with three replications with randomized block design. The study revealed the Ascorbic acid, acidity, Organic carbon, Available nitrogen, Available phosphorus, and available potassium per cent for both year was noted maximum with the use of T7, which was at par withT4, T5, T6 and both treatment was significantly superior over rest of the treatment. The study concluded that applying 5% RDF + 30 kg Vermicompost+ 250 g Azotobacter+ 250g PSB, produced good quality fruit, yield and physiochemical attributes of Aonla for sustainable production

Hypothesis Structure prediction and evolution of a halo-acid dehalogenase of Burkholderia mallei

Abstract: Environmental pollutants containing halogenated organic compounds e.g. haloacid, can cause a plethora of health problems. The structural and functional analyses of the gene responsible of their degradation are an important aspect for environmental studies and are important to human well-being. It has been shown that some haloacids are toxic and mutagenic. Microorganisms capable of degrading these haloacids can be found in the natural environment. One of these, a soil-borne Burkholderia mallei posses the ability to grow on monobromoacetate (MBA). This bacterium produces a haloacid dehalogenase that allows the cell to grow on MBA, a highly toxic and mutagenic environmental pollutant. For the structural and functional analysis, a 346 amino acid encoding protein sequence of haloacid dehalogenase is retrieve from NCBI data base. Primary and secondary structure analysis suggested that the high percentage of helices in the structure makes the protein more flexible for folding, which might increase protein interactions. The consensus protein sub-cellular localization predictions suggest that dehalogenase protein is a periplasmic protein 3D2GO server, suggesting that it is mainly employed in metabolic process followed by hydrolase activity and catalytic activity. The tertiary structure of protein was predicted by homology modeling. The result suggests that the protein is an unstable protein which is also an important characteristic of active enzyme enabling them to bind various cofactors and substrate for proper functioning. Validation of 3D structure was done using Ramachandran plot ProsA-web and RMSD score. This predicted information will help in better understanding of mechanism underlying haloacid dehalogenase encoding protein and its evolutionary relationship