73 research outputs found
070-I * TRIBECA STUDY: (TRI)FECTA (B)IOPROSTHESES (E)VALUATION VERSUS (C)ARPENTIER MAGNA-EASE IN (A)ORTIC POSITION
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The future of aortic surgery in Europeâ€
At least every ten years, each specialty should reflect upon its past, its present and its future, in order to be able to reconfirm the direction in which it is headed, to adopt suggestions from inside and outside and, consequently, to improve. As such, the aim of this manuscript is to provide the interested reader with an overview of how aortic surgery and (perhaps more accurately) aortic medicine has evolved in Europe, and its present standing; also to provide a glimpse into the future, trying to disseminate the thoughts of a group of people actively involved in the development of aortic medicine in Europe, namely the Vascular Domain of the European Association of Cardio-Thoracic Surgery (EACTS
An extreme firm-specific news sentiment asymmetry based trading strategy
News sentiment has been empirically observed to have impact on financial market returns. In this study, we investigate firm-specific news from the Thomson Reuters News Analytics data from 2003 to 2014 and propose an optimal trading strategy based on a sentiment shock score and a sentiment trend score which measure extreme positive and negative sentiment levels for individual stocks. The intuition behind this approach is that the impact of events that generate extreme investor sentiment changes tends to have long and lasting effects to market movement and hence provides better prediction to market returns. We document that there exists an optimal signal region for both indicators. And we also show extreme positive sentiment provides better a signal than extreme negative sentiment, which presents an asymmetric market behavior in terms of news sentiment impact. The back test results show that extreme positive sentiment generates robust and superior trading signals in all market conditions, and its risk-adjusted returns significantly outperform the S&P 500 index over the same time period
The future of aortic surgery in Europe
At least every ten years, each specialty should reflect upon its past, its present and its future, in order to be able to reconfirm the direction in which it is headed, to adopt suggestions from inside and outside and, consequently, to improve. As such, the aim of this manuscript is to provide the interested reader with an overview of how aortic surgery and (perhaps more accurately) aortic medicine has evolved in Europe, and its present standing; also to provide a glimpse into the future, trying to disseminate the thoughts of a group of people actively involved in the development of aortic medicine in Europe, namely the Vascular Domain of the European Association of Cardio-Thoracic Surgery (EACTS)
T cell deficiency in spinal cord injury: altered locomotor recovery and whole-genome transcriptional analysis
Do Community Banks Stabilize Housing Prices?
This paper examines the influence that community bank residential mortgage lending has on regional housing prices and ultimately the housing price bubble that culminated with the Great Recession of 2007–09. Previous research suggests that community bank lending is influenced by financial intermediation frictions, such as difficulty attracting uninsured deposits and limited access to the bond market. Such frictions cause bank liquidity to play an important role in the ability of community banks to navigate swings in the local economy as well as real estate prices. We take these frictions as the starting point in our analysis and contribute to literature by focusing on the impact that community banks exert on housing prices. Specifically, we find that while community bank residential mortgage holdings are marginally related to housing price cycles, their mortgage lending does not contribute in an economically meaningful way to housing price bubbles. Even though bank liquidity, defined as the ratio of securities-to-assets, plays a role in the degree of community bank residential mortgage lending, it is not sufficiently strong enough to influence housing prices
PPY THIN-LAYERS GROWN ONTO COPPER SALT REPLICA FOR SENSOR ARRAY FABRICATION
Investigations on polypyrrole, a pi-electron conjugated conducting polymer, aimed at the realization of amperometric biosensors are presented. The intent is to realize multi-electrode devices capable of transducing chemical changes into electrical signals. Thin patterned films of polypyrrole, which electrically interconnect Au microelectrodes, were grown from vapour phase by using a saline compound, CuCl2 + 2H2O, as oxidant. The salt has been obtained by a selective oxy-chloridization procedure of Cu thin layers on Au electrodized substrates. This technique has been used since it permits easier control, more than with electrochemical growth, of the polymer geometry which depends only on the salt geometry, hence on the Cu coating. Preliminary results obtained by means of cyclic voltammetry at a scan rate of 100 mV s-1, performed at different pHs (2, 7.8, 9, 12) on chemically grown PPy from CuCl2 + 2H2O salt, demonstrated that polymer conductivity increases in acid solution as the pH decreases
The Liquidity Risk of REITs
This study examines the liquidity risk of real estate investment trusts (REITs) as measured by their return sensitivity to marketwide liquidity shocks. Due to their unique dividend payout rules and associated high cash payouts, REITs should benefit investors by reducing their reliance on the stock market to satisfy liquidity needs. Using a sample of 440 equity REITs from 1980 through 2015, we find empirical evidence consistent with this paradigm along four key dimensions. First, unlike non-REIT real estate firms, REITs exhibit a negative sensitivity to marketwide liquidity shocks. More specifically, when marketwide liquidity declines, REIT prices tend to increase relative to the broader stock market. Second, our findings are not property type specific, but rather are evident across broad classifications of property type sectors. Third, consistent with the importance of cash flow stability, smaller REITs provide protection against liquidity risk only when their dividend frequency is relatively high. Finally, examining only those firms changing their REIT status within the sample period, we find marketwide liquidity risk is lower when these firms operate as REITs than when they operate as non-REITs. Taken together, these findings provide support for the notion that investors view dividend payouts as a source of enhanced liquidity, and further, that REITs, as a security class with relatively high regulatory mandated payout requirements, provide investors with an important benefit in the form of reduced liquidity risk
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