The accrual anomoly: Australian evidence

This paper investigates whether the accrual anomaly identified by Sloan (1996), whereby investors overestimate the impact of accruals on the persistence of earnings exists within an Australian context. While there is general support for the existence of the anomaly in Australia there are a number of idiosyncrasies in the results. First, there is evidence that in Australia investors underestimate the persistence of earnings. Second, there are greater errors in assessing the impact of cash flows on the persistence of earnings than accruals (i.e., a cash flow anomaly rather than an accruals anomaly). Third, returns to the hedged portfolio trading strategy are increasing over the three year period subsequent to portfolio formation. Analysis of these results indicates that they are primarily attributable to a limited number of firm year observations in the extreme positive tail of returns. Additionally, a range of sensitivity tests were undertaken to address the robustness of these results

Domestic energy e$ciency in Ireland: correcting market failure

Abstract If the bene"ts of domestic energy eciency are so great, why are they not reaped in actuality and what can be done about it? This paper deals with these crucial questions. It is based on the "ndings of a recent comprehensive study evaluating the costs (labour and materials) and bene"ts (energy cost savings, environmental bene"ts, including reductions in emissions of CO , NO V , SO and PM , comfort gains and mortality and morbidity impacts) to Irish society of bringing the entire housing stock up to the latest Building Regulations. The reasons for the lack of take-up of energy-conservation measures are discussed. The paper formulates policy proposals to address the impediments to e!ective action in the market for domestic energy eciency. The various policy instruments available to overcome these barriers are outlined. Past performance, citing speci"c exemplars, both from abroad and from experience in Ireland, is reported. The "nal section suggests a mix of policy instruments to assist the realisation of the potential bene"ts of the energy-conservation programme. The principal initiatives recommended include the provision of a combination of grants to low-income households and a clear State-led information campaign explaining the bene"ts of conserving energy to the householder

Illinoian and Late Wisconsin Tills in Eastern New England: a Transect from Northeastern Massachusetts to West-Central Maine

Guidebook for field trips in southern and west-central Maine, October 13, 14 and 15, 1989: New England Intercollegiate Geological Conference 81st annual meeting: Trip A-

Predicting the Risk of Disease Recurrence and Death Following Curative-intent Radiotherapy for Non-small Cell Lung Cancer: The Development and Validation of Two Scoring Systems From a Large Multicentre UK Cohort

AIMS: There is a paucity of evidence on which to produce recommendations on neither the clinical nor the imaging follow-up of lung cancer patients after curative-intent radiotherapy. In the 2019 National Institute for Health and Care Excellence lung cancer guidelines, further research into risk-stratification models to inform follow-up protocols was recommended. MATERIALS AND METHODS: A retrospective study of consecutive patients undergoing curative-intent radiotherapy for non-small cell lung cancer from 1 October 2014 to 1 October 2016 across nine UK trusts was carried out. Twenty-two demographic, clinical and treatment-related variables were collected and multivariable logistic regression was used to develop and validate two risk-stratification models to determine the risk of disease recurrence and death. RESULTS: In total, 898 patients were included in the study. The mean age was 72 years, 63% (562/898) had a good performance status (0-1) and 43% (388/898), 15% (134/898) and 42% (376/898) were clinical stage I, II and III, respectively. Thirty-six per cent (322/898) suffered disease recurrence and 41% (369/898) died in the first 2 years after radiotherapy. The ASSENT score (age, performance status, smoking status, staging endobronchial ultrasound, N-stage, T-stage) was developed, which stratifies the risk for disease recurrence within 2 years, with an area under the receiver operating characteristic curve (AUROC) for the total score of 0.712 (0.671-0.753) and 0.72 (0.65-0.789) in the derivation and validation sets, respectively. The STEPS score (sex, performance status, staging endobronchial ultrasound, T-stage, N-stage) was developed, which stratifies the risk of death within 2 years, with an AUROC for the total score of 0.625 (0.581-0.669) and 0.607 (0.53-0.684) in the derivation and validation sets, respectively. CONCLUSIONS: These validated risk-stratification models could be used to inform follow-up protocols after curative-intent radiotherapy for lung cancer. The modest performance highlights the need for more advanced risk prediction tools

Neutrophil-Lymphocyte Ratio and Absolute Lymphocyte Count as Prognostic Markers in Patients Treated with Curative-intent Radiotherapy for Non-small Cell Lung Cancer

Aims The neutrophil–lymphocyte ratio (NLR) and the absolute lymphocyte count (ALC) have been proposed as prognostic markers in non-small cell lung cancer (NSCLC). The objective of this study was to examine the association of NLR/ALC before and after curative-intent radiotherapy for NSCLC on disease recurrence and overall survival. Materials and methods A retrospective study of consecutive patients who underwent curative-intent radiotherapy for NSCLC across nine sites in the UK from 1 October 2014 to 1 October 2016. A multivariate analysis was carried out to assess the ability of pre-treatment NLR/ALC, post-treatment NLR/ALC and change in NLR/ALC, adjusted for confounding factors using the Cox proportional hazards model, to predict disease recurrence and overall survival within 2 years of treatment. Results In total, 425 patients were identified with complete blood parameter values. None of the NLR/ALC parameters were independent predictors of disease recurrence. Higher pre-NLR, post-NLR and change in NLR plus lower post-ALC were all independent predictors of worse survival. Receiver operator curve analysis found a pre-NLR > 2.5 (odds ratio 1.71, 95% confidence interval 1.06–2.79, P 5.5 (odds ratio 2.36, 95% confidence interval 1.49–3.76, P 3.6 (odds ratio 2.41, 95% confidence interval 1.5–3.91, P < 0.001) and a post-ALC < 0.8 (odds ratio 2.86, 95% confidence interval 1.76–4.69, P < 0.001) optimally predicted poor overall survival on both univariate and multivariate analysis when adjusted for confounding factors. Median overall survival for the high-versus low-risk groups were: pre-NLR 770 versus 1009 days (P = 0.34), post-NLR 596 versus 1287 days (P ≤ 0.001), change in NLR 553 versus 1214 days (P ≤ 0.001) and post-ALC 594 versus 1287 days (P ≤ 0.001). Conclusion NLR and ALC, surrogate markers for systemic inflammation, have prognostic value in NSCLC patients treated with curative-intent radiotherapy. These simple and readily available parameters may have a future role in risk stratification post-treatment to inform the intensity of surveillance protocols

Socio-cultural influences on the behaviour of South Asian women with diabetes in pregnancy: qualitative study using a multi-level theoretical approach

BACKGROUND: Diabetes in pregnancy is common in South Asians, especially those from low-income backgrounds, and leads to short-term morbidity and longer-term metabolic programming in mother and offspring. We sought to understand the multiple influences on behaviour (hence risks to metabolic health) of South Asian mothers and their unborn child, theorise how these influences interact and build over time, and inform the design of culturally congruent, multi-level interventions. METHODS: Our sample for this qualitative study was 45 women of Bangladeshi, Indian, Sri Lankan, or Pakistani origin aged 21-45 years with a history of diabetes in pregnancy, recruited from diabetes and antenatal services in two deprived London boroughs. Overall, 17 women shared their experiences of diabetes, pregnancy, and health services in group discussions and 28 women gave individual narrative interviews, facilitated by multilingual researchers, audiotaped, translated, and transcribed. Data were analysed using the constant comparative method, drawing on sociological and narrative theories. RESULTS: Key storylines (over-arching narratives) recurred across all ethnic groups studied. Short-term storylines depicted the experience of diabetic pregnancy as stressful, difficult to control, and associated with negative symptoms, especially tiredness. Taking exercise and restricting diet often worsened these symptoms and conflicted with advice from relatives and peers. Many women believed that exercise in pregnancy would damage the fetus and drain the mother's strength, and that eating would be strength-giving for mother and fetus. These short-term storylines were nested within medium-term storylines about family life, especially the cultural, practical, and material constraints of the traditional South Asian wife and mother role and past experiences of illness and healthcare, and within longer-term storylines about genetic, cultural, and material heritage - including migration, acculturation, and family memories of food insecurity. While peer advice was familiar, meaningful, and morally resonant, health education advice from clinicians was usually unfamiliar and devoid of cultural meaning. CONCLUSIONS: 'Behaviour change' interventions aimed at preventing and managing diabetes in South Asian women before and during pregnancy are likely to be ineffective if delivered in a socio-cultural vacuum. Individual education should be supplemented with community-level interventions to address the socio-material constraints and cultural frames within which behavioural 'choices' are made

The effect of premature extraction of primary teeth on the subsequent need for orthodontic treatment.

AIM: To investigate if premature extraction of primary teeth was associated with orthodontic need in the permanent dentition. STUDY DESIGN: This was a case-control study based on retrospective dental records. METHODS: As part of NHS (UK) Dental Epidemiology Programme a sample of 366, 12-year-old children from Bradford and Airedale were examined. The survey collected data on patient demographics, dental health status including orthodontic need. Data linkage was undertaken for those children participating in the NHS Dental Epidemiology Programme who had previously accessed the local Salaried Dental Service (SDS). For these children, retrospective dental information was collected about premature extraction of primary teeth. RESULTS: From the 366 children who were surveyed, 116 children had received treatment at the local SDS in the past. Significantly more children from ethnic minorities, low socioeconomic backgrounds and high caries rate (p < 0.001) were seen in the SDS. For the 107 children who attended SDS, an increased total number of primary teeth extractions was positively associated with orthodontic need (odds ratio:1.18, CI -1.01 to 1.37). STATISCTICS: Multilevel modelling was undertaken to identify variables associated with orthodontic need. CONCLUSIONS: In the study group, orthodontic need was significantly associated with the number of primary teeth extracted

Heat-flow variability of suspended timber ground floors: Implications for in-situ heat-flux measuring

Reducing space heating energy demand supports the UK’s legislated carbon emission reduction targets and requires the effective characterisation of the UK’s existing housing stock to facilitate retrofitting decision-making. Approximately 6.6 million UK dwellings pre-date 1919 and are predominantly of suspended timber ground floor construction, the thermal performance of which has not been extensively investigated. This paper examines suspended timber ground floor heat-flow by presenting high resolution in-situ heat-flux measurements undertaken in a case study house at 15 point locations on the floor. The results highlight significant variability in observed heat-flow: point U-values range from 0.56 ± 0.05 to 1.18 ± 0.11 Wm−2 K−1. This highlights that observing only a few measurements is unlikely to be representative of the whole floor heat-flow and the extrapolation from such point values to whole floor U-value estimates could lead to its over- or under- estimation. Floor U-value models appear to underestimate the actual measured floor U-value in this case study. This paper highlights the care with which in-situ heat-flux measuring must be undertaken to enable comparison with models, literature and between studies and the findings support the unique, high-resolution in-situ monitoring methodology used in this study for further research in this area