Judgments of ethically questionable financial practices: a new perspective

Purpose: Research has suggested that ethics judgments should be made from an impartial perspective. However, people are often partial about their money. This study aims to investigate the extent to which perspectives – the perspective of those who can gain from the use of a financial practice and the perspective of those who can incur losses due to it – affect lay people’s ethics and legality judgments of the practice. In addition, it asks which factors influence their investment intentions. / Design/methodology/approach: The study uses a between-participant scenario experiment, in which participants are presented with cases of predatory trading and front running. Each participant is asked to take either a gain or loss perspective through the formulation of the presented cases. Subsequently, all participants make ethics, legality and investment intention judgments. / Findings: The authors establish that perspectives significantly affect people’s ethics judgments and, to a lesser extent, their legality judgments. People’s investment intentions depend on their perspectives, too, as well as on their financial considerations, ethics judgments, legality judgments and trust. / Originality/value: Research has focused on relatively stable determinants of people’s ethics judgments of financial practices. This paper shows that the situational prospect of profit can sway lay people’s judgments. When people take the gain perspective, they judge financial practices to be more ethical than when they take the loss perspective. Furthermore, people’s perspectives can distort their legality judgments and influence their investment intentions

Predatory trading: ethics judgments, legality judgments and investment intentions

Purpose: Predatory trading is a stock market trading technique in which certain market participants exploit information about other market participants' need to trade. Predatory trading often harms others. Hence, this paper examines the determinants and effects of financial practitioners' and lay people's judgments of predatory trading. Specifically, it investigates how the public availability and reliability of the exploited information affect their ethics and legality judgments and how the latter influence their behavioral intentions and regulation support. / Design/methodology/approach: The authors conducted two scenario judgment studies. In the first study, participants were financial practitioners, and in the second – lay people. / Findings: Practitioners often judge predatory trading to be ethical. Practitioners and lay people incorporate in their ethics and legality judgments the public availability of the exploited information but tend to discount the legal reliability criterion. Lay people justify their ethics judgments using harm, legal or profit maximization principles. Practitioners' intentions to engage in predatory trading and lay people's intentions to let predatory fund managers invest their money depend on their judgments, which influence their regulation support. / Originality/value: This paper is the first to explore people's judgments of predatory trading. It highlights that despite the harm that predatory trading involves, practitioners often judge it to be ethical. Although law tends to lag behind financial innovation, people base their judgments and hence also behavioral intentions on their interpretation of the regulation. Hence, it reveals a dark aspect of the relationship between ethics and legality judgments

An Arclength Problem for Close‐to‐Convex Functions

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/135569/1/jlms0181.pd

Some problems of best approximation with constraints

AbstractWe discuss problems of best approximation with constraints in (a) an abstract Hilbert space setting and (b) a concrete form involving polynomial approximation. One problem is to compute the Hilbert space distance from a fixed vector h to the set of vectors Ad such that ∥Bd∥ ⩽ M, where A, B are given linear operators and M is a positive constant. A related concrete problem is to find the L2(μ)-distance from a fixed function h to the set of polynomials p that satisfy ∝ ¦p¦2 dv ⩽ M2, where μ, v are nonnegative, finite Borel measures on the unit circle and M is a positive constant. In particular, the dependence of this distance on the singular components of μ and v is investigated

An exactly solvable phase transition model: generalized statistics and generalized Bose-Einstein condensation

In this paper, we present an exactly solvable phase transition model in which the phase transition is purely statistically derived. The phase transition in this model is a generalized Bose-Einstein condensation. The exact expression of the thermodynamic quantity which can simultaneously describe both gas phase and condensed phase is solved with the help of the homogeneous Riemann-Hilbert problem, so one can judge whether there exists a phase transition and determine the phase transition point mathematically rigorously. A generalized statistics in which the maximum occupation numbers of different quantum states can take on different values is introduced, as a generalization of Bose-Einstein and Fermi-Dirac statistics.Comment: 17 pages, 2 figure

Permutable entire functions satisfying algebraic differential equations

It is shown that if two transcendental entire functions permute, and if one of them satisfies an algebraic differential equation, then so does the other one.Comment: 5 page

Utility of ultrasound in the assessment of swallowing and laryngeal function: A rapid review and critical appraisal of the literature

BACKGROUND: Ultrasound (US) is not widely used as part of the speech and language therapy (SLT) clinical toolkit. The COVID-19 pandemic has intensified interest in US as an alternative to SLT instrumental tools such as the videofluoroscopic swallowing study (VFSS), fibreoptic endoscopic evaluation of swallowing (FEES) and endoscopic evaluation of the larynx (EEL) as a non-invasive, non-aerosol-generating procedure that can be delivered at the bedside to assess swallowing and/or laryngeal function. To establish the appropriacy of routine US use, and in response to a national professional body request for a position statement, a group of expert SLTs conducted a rapid review of the literature. AIM: To explore critically the clinical utility of US as an assessment tool for swallowing and laryngeal function in adults. METHODS & PROCEDURES: A rapid review of four databases was completed to identify articles using US to assess swallowing and/or laryngeal function in adults compared with reference tests (VFSS/FEES/EEL/validated outcome measure). Screening was completed according to predefined inclusion/exclusion criteria and 10% of abstracts were rescreened to assess reliability. Data were extracted from full texts using a predeveloped form. The QUADAS-2 tool was used for quality ratings. Information from included studies was summarized using narrative synthesis and visual illustration. OUTCOMES & RESULTS: Ten papers used US to assess swallowing, and 13 to assess laryngeal function. All were peer-reviewed primary studies across a range of clinical populations and with a wide geographical spread. Four papers had an overall low risk of bias, but the remaining 19 had at least one domain where risk of bias was judged as high or unclear. Applicability concerns were identified in all papers. The papers that used US to assess swallowing varied widely in terms of the anatomical structures assessed and methodology employed. The papers assessing laryngeal function were more homogenous in their methodology. Sensitivity and specificity data were provided for 12 of the laryngeal function papers with ranges of 64.3–100% and 48.5–100%, respectively. CONCLUSIONS & IMPLICATIONS: There is burgeoning evidence to support the use of US as an adjunct to SLT clinical assessment of swallowing and laryngeal function. However, the current literature does not support its use as a tool in isolation. Further research is required to establish reliability in US assessment as well as clear SLT-driven protocols and training

(188)Re radiopharmaceuticals for radiosynovectomy: evaluation and comparison of tin colloid, hydroxyapatite and tin-ferric hydroxide macroaggregates

BACKGROUND: Radiosynovectomy is a therapy used to relieve pain and inflammation from rheumatoid arthritis and related diseases. In this study three (188)Re particulate compounds were characterized according to their physico-chemical properties and their biological behavior in rabbits. The results were compared in order to establish which was the radiopharmaceutical that better fits the requirements of this kind of radiotherapy. METHODS: Three radiopharmaceutical formulations, tin colloid, hydroxyapatite particles (HA) and ferric hydroxide macroaggregates coated with tin colloid (FHMA), were physically characterized (number, volume and surface of the particles). For this purpose laser diffraction methodology was used. To evaluate cavity leakage of activity the following studies in New Zealand rabbits were performed: scintigraphic images for 48 hr after intraarticular injection of each radiopharmaceutical, biodistribution at 48 hr and urine samples collection during the first 24 hr post-radiopharmaceutical administration. RESULTS: Labeling procedures for (188)Re-HA and (188)Re-Sn-FHMA were labour intensive while (188)Re-Sn was easily prepared. Furthermore, (188)Re-Sn colloid offered the greatest surface area in the 2–10 microm range and was obtained with a radiochemical purity over 95%, while percentage of bound activity for (188)Re-HA and (188)Re-Sn-FHMA were 55% and 92% respectively. Stability was verified for the three radiopharmaceuticals for 24 hr. Scintigraphic studies and biodistribution in rabbits after intraarticular administration of the radiopharmaceuticals showed relevant activity only in the knee, this being over 90% of the residual activity in the whole body at 48 hr in every case. Renal elimination of (188)Re-Sn colloid and (188)Re-Sn-FHMA was detected by activity measurements in urine samples, during the first 12 hr post-radiopharmaceutical injection. The percentage of activity retained in the knee was 69.1% for (188)Re-Sn colloid, 55.1% for (188)Re-Sn-FHMA and 33.6% for (188)Re-HA. CONCLUSION: The (188)Re-Sn colloid was easy to prepare, minimum facilities were required, was stable for 24 hr and showed minimal leakage from the joint after intraarticular injection into the rabbit's knee. Furthermore, (188)Re-Sn colloid has greater retention in the knee when it is compared with the other radiopharmaceuticals, so it could provide the best therapeutic effect/absorbed dose ratio for the patient