Returns to Hedge Fund Activism: An International Study

This paper provides evidence on the incidence, characteristics, and performance of activist engagements across countries. We find that the incidence of activism is greatest with high institutional ownership, particularly for U.S. institutions. We use a sample of 1,740 activist engagements across 23 countries and find that almost one-quarter of engagements are by multi-activists engaging the same target. These engagements perform strikingly better than single activist engagements. Engagement outcomes, such as board changes and takeovers, vary across countries and significantly contribute to the returns to activism. Japan is an exception, with high initial expectations and low outcomes

Ion impact induced Interatomic Coulombic Decay in neon and argon dimers

We investigate the contribution of Interatomic Coulombic Decay induced by ion impact in neon and argon dimers (Ne$_2$ and Ar$_2$) to the production of low energy electrons. Our experiments cover a broad range of perturbation strengths and reaction channels. We use 11.37 MeV/u S$^{14+}$, 0.125 MeV/u He$^{1+}$, 0.1625 MeV/u He$^{1+}$ and 0.150 MeV/u He$^{2+}$ as projectiles and study ionization, single and double electron transfer to the projectile as well as projectile electron loss processes. The application of a COLTRIMS reaction microscope enables us to retrieve the three-dimensional momentum vectors of the ion pairs of the fragmenting dimer into Ne$^{q+}$/Ne$^{1+}$ and Ar$^{q+}$/Ar$^{1+}$ (q = 1, 2, 3) in coincidence with at least one emitted electron

Personality development across adolescence and young adulthood:The role of life transitions and self-concept clarity

Personality develops across the lifespan, but most development occurs in adolescence and young adulthood. Life transitions to new social roles may be important drivers of mean-level personality development. The present study examined mean-level personality development in adolescence and young adulthood, and the role of the transition to tertiary education and working life therein in a sample of Dutch young people that were followed across 14 years (N = 497, Age(W1) = 13.03 years). We explored whether young people's self-concept clarity moderated these associations. Our hypotheses and analytical plan were pre-registered. Findings from Latent Growth Models showed support for maturation in personality across adolescence and young adulthood, but not a maturity dip. Having the role of employee was associated with higher conscientiousness, but no associations were found of the transition to tertiary education and the transition to work with mean-level development of any of the personality traits. Self-concept clarity did not moderate the role of transitions in mean-level personality development. Our findings suggest that socialization effects may not explain associations between life transitions and personality development in adolescence and young adulthood

Socioeconomic hardship, uncertainty about the future, and adolescent mental wellbeing over a year during the COVID-19 pandemic

Socioeconomic vulnerabilities put adolescents at risk for mental wellbeing issues, also in times of a pandemic. In the present longitudinal online survey study, we explored changes in mental wellbeing (i.e., mood and life satisfaction) during the COVID-19 pandemic. Second, we examined how socioeconomic hardship in online home schooling predicted adolescents’ mental wellbeing 1 year later. Third, we tested whether this relation was mediated by feelings of uncertainty about the future. Fourth, we tested whether this relation was moderated (in terms of a protective factor) by self-efficacy. In total, 177 Dutch-speaking adolescents aged 10–18 years (Mage = 15.64, SDage = 1.72, 79% females) participated in all three 6-month separated waves (T1 = May 2020, T2 = November 2020, and T3 = May 2021). Mood results demonstrated that feelings of vigor decreased between T1 and T2, and feelings of tension and depression increased between T1, T2, and T3. Socioeconomic hardship in online home schooling in the early phase of the pandemic was negatively associated with both baseline mental wellbeing and 1 year later. Socioeconomic hardship at T1 predicted higher feelings of future uncertainty at T2, and higher levels of future uncertainty were associated with lower feelings of vigor, and higher feelings of tension and depression at T3. However, we found no evidence for mediation or moderation effects. In conclusion, the present findings illustrate the complexity of disentangling the adverse effects of socioeconomic hardship on adolescent mental wellbeing.</p

Socioeconomic hardship, uncertainty about the future, and adolescent mental wellbeing over a year during the COVID-19 pandemic

Socioeconomic vulnerabilities put adolescents at risk for mental wellbeing issues, also in times of a pandemic. In the present longitudinal online survey study, we explored changes in mental wellbeing (i.e., mood and life satisfaction) during the COVID-19 pandemic. Second, we examined how socioeconomic hardship in online home schooling predicted adolescents’ mental wellbeing 1 year later. Third, we tested whether this relation was mediated by feelings of uncertainty about the future. Fourth, we tested whether this relation was moderated (in terms of a protective factor) by self-efficacy. In total, 177 Dutch-speaking adolescents aged 10–18 years (Mage = 15.64, SDage = 1.72, 79% females) participated in all three 6-month separated waves (T1 = May 2020, T2 = November 2020, and T3 = May 2021). Mood results demonstrated that feelings of vigor decreased between T1 and T2, and feelings of tension and depression increased between T1, T2, and T3. Socioeconomic hardship in online home schooling in the early phase of the pandemic was negatively associated with both baseline mental wellbeing and 1 year later. Socioeconomic hardship at T1 predicted higher feelings of future uncertainty at T2, and higher levels of future uncertainty were associated with lower feelings of vigor, and higher feelings of tension and depression at T3. However, we found no evidence for mediation or moderation effects. In conclusion, the present findings illustrate the complexity of disentangling the adverse effects of socioeconomic hardship on adolescent mental wellbeing

An RNA Transport System in Candida albicans Regulates Hyphal Morphology and Invasive Growth

Localization of specific mRNAs is an important mechanism through which cells achieve polarity and direct asymmetric growth. Based on a framework established in Saccharomyces cerevisiae, we describe a She3-dependent RNA transport system in Candida albicans, a fungal pathogen of humans that grows as both budding (yeast) and filamentous (hyphal and pseudohyphal) forms. We identify a set of 40 mRNAs that are selectively transported to the buds of yeast-form cells and to the tips of hyphae, and we show that many of the genes encoded by these mRNAs contribute to hyphal development, as does the transport system itself. Although the basic system of mRNA transport is conserved between S. cerevisiae and C. albicans, we find that the cargo mRNAs have diverged considerably, implying that specific mRNAs can easily move in and out of transport control over evolutionary timescales. The differences in mRNA cargos likely reflect the distinct selective pressures acting on the two species

ISRCTN12125882 - Influence of topical anti-VEGF (Ranibizumab) on the outcome of filtration surgery for glaucoma - Study Protocol

<p>Abstract</p> <p>Background</p> <p>Excessive wound healing, with scarring of the episcleral tissue or encapsulation of the filtering bleb is the main reason for failure in trabeculectomy. Ranibizumab, an inhibitor of the Vascular Endothelial Growth Factor (VEGF), is seen as a promising candidate to prevent or treat extensive wound healing. We describe the design of a two phased study, i) assessing the local tolerability and safety of topical ranibizumab and ii) assessing the efficacy of topical ranibizumab against placebo in patients who underwent trabeculectomy with mitomycin C combined with phacoemulsification and intra ocular lens (IOL) implantation.</p> <p>Methods/Design</p> <p>In the first phase five patients that had trabeculectomy with mitomycin C combined with phacoemulsification and IOL implantation will be treated with topical ranibizumab (Lucentis^®) eye drops (2 mg/ml) four times daily for one month. The treatment will be started at the first postoperative day. Patients will be assessed for local and systemic side effects using a standardised schedule. In the second phase, after successful completion of phase 1, consenting eligible patients who underwent trabeculectomy with mitomycin C combined with phacoemulsification and IOL implantation will be randomised to either receive topical ranibizumab eye drops (2 mg/ml) four times daily for 1 month or placebo (BSS 4x/d for 1 month). Patients will be reviewed weekly for 4 weeks until conjunctival sutures are removed. Further follow up examinations are planned after 3 and six months. Assessment of differences in the intraocular eye pressure will be considered primary, and bleb appearance/vascularisation using a standardized photography and the Moorfields bleb grading system, postoperative intraocular pressure and conjunctival wound healing problems will be considered secondary outcome parameters.</p> <p>Discussion</p> <p>Anti-VEGF-antibodies might be more effective in preventing scaring and might have fewer toxic side effects than the currently used anti-metabolites and may replace them in the long term.</p> <p>Trial Registration</p> <p>ISRCTN: <a href="http://www.controlled-trials.com/ISRCTN12125882">ISRCTN12125882</a></p