An Examination of the Information Content of Funds from Operations (FFO) Using Polynomial Regression and Response Surface Methodology

I examine the market reaction to the announcement of FFO by REITs using abnormal trading volume as a gauge of investors’ reaction. I also address the question of whether FFO provides more useful information to investors than net income. Lastly, I examine whether the quality of private information among traders prior to the announcement of FFO affects the level of abnormal trading volume. Using three different specifications, I find that even though the announcement of FFO leads to abnormal trading, there is no association between the level of abnormal trading volume and the size of the surprise contained in the FFO announcement. I also find, using abnormal returns as a measure of investor response, that FFO explains significantly more variance in abnormal returns than net income suggesting that FFO provides more useful information than net income. Lastly, I use the proportion of institutional holdings as a proxy for the number of informed traders to predict the amount of abnormal trading volume. I find no significant relation between abnormal trading volume and the proportion of institutional holdings. However, when I break down institutional ownership into two broad classifications, I find that the level of abnormal trading volume is significantly positively related to the holdings by mutual funds and investment advisors but negatively related to the holdings of other institutions (pension funds &.endowments, banks and insurance companies). This raises questions of whether the use of an aggregate measure of institutional ownership is appropriate in studies that examine the effect of institutional holdings

The impact of delays on the outcomes of emergency abdominal surgeries in Komfo Anokye Teaching Hospital, Kumasi, Ghana

Emergency abdominal surgery is the most appropriate intervention for patients who suffer traumatic abdominal injuries, acute surgically-related disease processes, or surgical complications. The greater burden of difficulty in accessing surgical care falls on those living in low and middle income countries (LMICs). The situation is often associated with undue delays for surgical intervention for emergency admission. A descriptive cross-sectional and quantitative research design was used to sample 109 participants using a convenience sampling technique with well-defined inclusion criteria. Data were collected with a structured questionnaire, using an electronic data-collecting tool and extracted onto STATA 13 for analysis. A multivariate logistic regression analysis was carried out, taking into consideration odd ratios where statistical significance was derived with p<0.05. Sixty-eight (62.4%) of the participants were males and 41 (37.6%) females. A delay of more than 24 hours from the onset of symptoms was found in 58.7%. Delays in the decision to go to the hospital (pre-hospital delay) and waiting time in the theatre bay (in-hospital delay) were significantly associated with long stay in hospital

Assessing the roles of green innovations and renewables in environmental sustainability of resource-rich Sub-Saharan African states : A financial development perspective

Environmental literature keeps expanding on the natural resources-environmental sustainability conundrum. However, most studies examine this conundrum in different geographical locations other than resource-rich Sub-Saharan African (SSA) countries while also neglecting the criticality of issues like green innovations, financial development, and renewable energy. Besides, the likelihood of a nonlinear relationship has often been jettisoned in the framework. Thus, the resources-sustainability nexus was examined in the SSA using robust econometric techniques, while underscoring the roles of green innovations, renewable energy, and financial development. Using the cross-sectional augmented auto-regressive distributed lag (CS-ARDL), cross-sectional augmented distributed lag (CS-DL), and the common correlated effect mean group (CCEMG) approaches that conciliate with residual cross-sectional dependence and heterogeneity amongst others, we discovered that (i) the natural resources-sustainability nexus is nonlinear in SSA. (ii) unlike the environmental gains from green innovations and renewables in the SSA, natural resource harms their environmental sustainability (iii) the interaction between financial development and natural resources worsened the ecosystem of the countries (iv) the interaction between natural resources and the duo of green innovations and renewable energy enhances SSA's ecological quality (v) urbanization damage environmental sustainability by spurring ecological footprints. Furthermore, one-way causality paths were observed from the trio of natural resources, financial development, and green innovations to ecological footprints. But renewable energy and urbanization had a feedback causal relationship with ecological footprints. The findings are robust to CO2 emissions as an alternative environmental quality measure. Policy implications to foster SDGs-related pollution mitigation agenda were thereafter extensively discussed for the SSA.© 2024 The Authors. Natural Resources Forum published by John Wiley & Sons Ltd on behalf of United Nations. This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.fi=vertaisarvioitu|en=peerReviewed

Modelling the Economic Growth Rate of Ghana using the Solow Model

The main objective of this study was to use the Solow growth model (Augmented Cobb-Douglas production function) as a basis to model the economic growth of Ghana during the period 1990 to 2010. Economic growth around the world has not been equal for a long time. Some economies grow faster than others. Economists have predicted that the slower growing economies will eventually converge to the faster growing economies at some point in time. In this study, we model the economic growth of Ghana using the Solow production model and applying growth differential equations. Starting from the estimates of the parameters from other studies, the growth model was simulated for the period 1990 to 2010. The recording and computation of the data was done using Matlab, SPSS and Excel. The computations were Capital, Labour force, Total Factor Productivity, and Total Production and the results from models were compared with the real GDP growth figures and variations noted. The estimations from the model were compared with the actual figures from the Ghana Statistical Service, World Bank and Bank of Ghana. The model provides a good approximation of the dynamics of the Ghanaian economy for the 1990 to 2010 periods, with respect to the dynamics of the real aggregate GDP growth and to the ratios of the main macroeconomic variables, like production per worker, capital-output ratio or capital per worker. The results showed a very close relationship between the actual and calculated growth rates over the periods 1990 to 2010. The actual average growth rate over the period was 4.5% as compared to the calculated average value of 4.21%. In conclusion, there was a correlation between the actual growth rates and the calculated but the strength was weak. Keywords: Solow growth model, Economic growth of Ghana, Real GDP growth, Macroeconomic variables, actual and calculated growth rat

Assessment of knowledge, practices, and barriers to pharmacovigilance among nurses at a teaching hospital, Ghana: a cross-sectional study.

Background: Pharmacovigilance may be defined as the continuous monitoring of the reaction between a drug agent or combination of drugs a patient took and steps taken to prevent any associated risk. Clinical trials conducted before drug approval cannot uncover every aspect of the health hazards of approved drugs. People with carefully selected characteristics are monitored for the safety and efficacy of the drug; hence, common adverse drug reactions (ADRs) following proper use of the medication can be detected. This calls for continuous monitoring of drugs to report any undocumented ADRs during the clinical trial. The study aimed to assess the knowledge, practice, and barriers to pharmacovigilance among nurses at a teaching hospital. Methods: The study was a descriptive cross-sectional study, and a stratified sampling technique was used to select 125 nurses within the three units: medical, surgical, and pediatric wards. A structured questionnaire was developed and used for data collection based on the study's objectives and reviewed literature. Results: The majority (67.2%) of the respondents were females, and 32.8% were males. Most (71.2%) of the nurses had low knowledge of ADR reporting procedures. Also, 84.8% of the nurses knew the purpose of reporting ADRs. The purpose of ADR reporting, as perceived by respondents, was to identify safe drugs (80.8%) and calculate the incidence of ADR (75.2%). Additionally, among the nurses who reported having nursed a patient with ADRs, 52.54% stated they reported the case, while 47.46% did not report it. The most cited reason for not reporting ADRs was that nurses considered the reaction normal and commonly associated with that medicine (35.7%). In comparison, 28.5% of the nurses said they did not know they were supposed to report the adverse drug reaction. There was no statistically significant difference between ranks of nurses, ward, attending in-service training, and pharmacovigilance practice. Conclusion: In conclusion, nurses in this study had inadequate knowledge of pharmacovigilance and its reporting procedure. The study found that most nurses fear that reporting ADRs may be wrong because most of the nurses in the study did not have any form of pharmacovigilance training

Assessment of knowledge, practices, and barriers to pharmacovigilance among nurses at a teaching hospital, Ghana : a cross‑sectional study

Acknowledgements We would like to thank all the nurses at the various units who participated in the study. Funding The authors did not receive any specific funding for the study. The study was funded by the researchers.Peer reviewedPublisher PD

Estimating malaria transmission risk through surveillance of human–vector interactions in northern Ghana

Background: Vector bionomics are important aspects of vector-borne disease control programs. Mosquito-biting risks are affected by environmental, mosquito behavior and human factors, which are important for assessing exposure risk and intervention impacts. This study estimated malaria transmission risk based on vector–human interactions in northern Ghana, where indoor residual spraying (IRS) and insecticide-treated nets (ITNs) have been deployed. Methods: Indoor and outdoor human biting rates (HBRs) were measured using monthly human landing catches (HLCs) from June 2017 to April 2019. Mosquitoes collected were identified to species level, and Anopheles gambiae sensu lato (An. gambiae s.l.) samples were examined for parity and infectivity. The HBRs were adjusted using mosquito parity and human behavioral observations. Results: Anopheles gambiae was the main vector species in the IRS (81%) and control (83%) communities. Indoor and outdoor HBRs were similar in both the IRS intervention (10.6 vs. 11.3 bites per person per night [b/p/n]; z = −0.33, P = 0.745) and control communities (18.8 vs. 16.4 b/p/n; z = 1.57, P = 0.115). The mean proportion of parous An. gambiae s.l. was lower in IRS communities (44.6%) than in control communities (71.7%). After adjusting for human behavior observations and parity, the combined effect of IRS and ITN utilization (IRS: 37.8%; control: 57.3%) on reducing malaria transmission risk was 58% in IRS + ITN communities and 27% in control communities with ITNs alone (z = −4.07, P < 0.001). However, this also revealed that about 41% and 31% of outdoor adjusted bites in IRS and control communities respectively, occurred before bed time (10:00 pm). The mean directly measured annual entomologic inoculation rates (EIRs) during the study were 6.1 infective bites per person per year (ib/p/yr) for IRS communities and 16.3 ib/p/yr for control communities. After considering vector survival and observed human behavior, the estimated EIR for IRS communities was 1.8 ib/p/yr, which represents about a 70% overestimation of risk compared to the directly measured EIR; for control communities, it was 13.6 ib/p/yr (16% overestimation). Conclusion: Indoor residual spraying significantly impacted entomological indicators of malaria transmission. The results of this study indicate that vector bionomics alone do not provide an accurate assessment of malaria transmission exposure risk. By accounting for human behavior parameters, we found that high coverage of ITNs alone had less impact on malaria transmission indices than combining ITNs with IRS, likely due to observed low net use. Reinforcing effective communication for behavioral change in net use and IRS could further reduce malaria transmission

Antimicrobial resistance among migrants in Europe: a systematic review and meta-analysis

BACKGROUND: Rates of antimicrobial resistance (AMR) are rising globally and there is concern that increased migration is contributing to the burden of antibiotic resistance in Europe. However, the effect of migration on the burden of AMR in Europe has not yet been comprehensively examined. Therefore, we did a systematic review and meta-analysis to identify and synthesise data for AMR carriage or infection in migrants to Europe to examine differences in patterns of AMR across migrant groups and in different settings. METHODS: For this systematic review and meta-analysis, we searched MEDLINE, Embase, PubMed, and Scopus with no language restrictions from Jan 1, 2000, to Jan 18, 2017, for primary data from observational studies reporting antibacterial resistance in common bacterial pathogens among migrants to 21 European Union-15 and European Economic Area countries. To be eligible for inclusion, studies had to report data on carriage or infection with laboratory-confirmed antibiotic-resistant organisms in migrant populations. We extracted data from eligible studies and assessed quality using piloted, standardised forms. We did not examine drug resistance in tuberculosis and excluded articles solely reporting on this parameter. We also excluded articles in which migrant status was determined by ethnicity, country of birth of participants' parents, or was not defined, and articles in which data were not disaggregated by migrant status. Outcomes were carriage of or infection with antibiotic-resistant organisms. We used random-effects models to calculate the pooled prevalence of each outcome. The study protocol is registered with PROSPERO, number CRD42016043681. FINDINGS: We identified 2274 articles, of which 23 observational studies reporting on antibiotic resistance in 2319 migrants were included. The pooled prevalence of any AMR carriage or AMR infection in migrants was 25·4% (95% CI 19·1-31·8; I2 =98%), including meticillin-resistant Staphylococcus aureus (7·8%, 4·8-10·7; I2 =92%) and antibiotic-resistant Gram-negative bacteria (27·2%, 17·6-36·8; I2 =94%). The pooled prevalence of any AMR carriage or infection was higher in refugees and asylum seekers (33·0%, 18·3-47·6; I2 =98%) than in other migrant groups (6·6%, 1·8-11·3; I2 =92%). The pooled prevalence of antibiotic-resistant organisms was slightly higher in high-migrant community settings (33·1%, 11·1-55·1; I2 =96%) than in migrants in hospitals (24·3%, 16·1-32·6; I2 =98%). We did not find evidence of high rates of transmission of AMR from migrant to host populations. INTERPRETATION: Migrants are exposed to conditions favouring the emergence of drug resistance during transit and in host countries in Europe. Increased antibiotic resistance among refugees and asylum seekers and in high-migrant community settings (such as refugee camps and detention facilities) highlights the need for improved living conditions, access to health care, and initiatives to facilitate detection of and appropriate high-quality treatment for antibiotic-resistant infections during transit and in host countries. Protocols for the prevention and control of infection and for antibiotic surveillance need to be integrated in all aspects of health care, which should be accessible for all migrant groups, and should target determinants of AMR before, during, and after migration. FUNDING: UK National Institute for Health Research Imperial Biomedical Research Centre, Imperial College Healthcare Charity, the Wellcome Trust, and UK National Institute for Health Research Health Protection Research Unit in Healthcare-associated Infections and Antimictobial Resistance at Imperial College London

Surgical site infection after gastrointestinal surgery in high-income, middle-income, and low-income countries: a prospective, international, multicentre cohort study

Background: Surgical site infection (SSI) is one of the most common infections associated with health care, but its importance as a global health priority is not fully understood. We quantified the burden of SSI after gastrointestinal surgery in countries in all parts of the world. Methods: This international, prospective, multicentre cohort study included consecutive patients undergoing elective or emergency gastrointestinal resection within 2-week time periods at any health-care facility in any country. Countries with participating centres were stratified into high-income, middle-income, and low-income groups according to the UN's Human Development Index (HDI). Data variables from the GlobalSurg 1 study and other studies that have been found to affect the likelihood of SSI were entered into risk adjustment models. The primary outcome measure was the 30-day SSI incidence (defined by US Centers for Disease Control and Prevention criteria for superficial and deep incisional SSI). Relationships with explanatory variables were examined using Bayesian multilevel logistic regression models. This trial is registered with ClinicalTrials.gov, number NCT02662231. Findings: Between Jan 4, 2016, and July 31, 2016, 13 265 records were submitted for analysis. 12 539 patients from 343 hospitals in 66 countries were included. 7339 (58·5%) patient were from high-HDI countries (193 hospitals in 30 countries), 3918 (31·2%) patients were from middle-HDI countries (82 hospitals in 18 countries), and 1282 (10·2%) patients were from low-HDI countries (68 hospitals in 18 countries). In total, 1538 (12·3%) patients had SSI within 30 days of surgery. The incidence of SSI varied between countries with high (691 [9·4%] of 7339 patients), middle (549 [14·0%] of 3918 patients), and low (298 [23·2%] of 1282) HDI (p < 0·001). The highest SSI incidence in each HDI group was after dirty surgery (102 [17·8%] of 574 patients in high-HDI countries; 74 [31·4%] of 236 patients in middle-HDI countries; 72 [39·8%] of 181 patients in low-HDI countries). Following risk factor adjustment, patients in low-HDI countries were at greatest risk of SSI (adjusted odds ratio 1·60, 95% credible interval 1·05–2·37; p=0·030). 132 (21·6%) of 610 patients with an SSI and a microbiology culture result had an infection that was resistant to the prophylactic antibiotic used. Resistant infections were detected in 49 (16·6%) of 295 patients in high-HDI countries, in 37 (19·8%) of 187 patients in middle-HDI countries, and in 46 (35·9%) of 128 patients in low-HDI countries (p < 0·001). Interpretation: Countries with a low HDI carry a disproportionately greater burden of SSI than countries with a middle or high HDI and might have higher rates of antibiotic resistance. In view of WHO recommendations on SSI prevention that highlight the absence of high-quality interventional research, urgent, pragmatic, randomised trials based in LMICs are needed to assess measures aiming to reduce this preventable complication

A year of genomic surveillance reveals how the SARS-CoV-2 pandemic unfolded in Africa.

The progression of the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) pandemic in Africa has so far been heterogeneous, and the full impact is not yet well understood. In this study, we describe the genomic epidemiology using a dataset of 8746 genomes from 33 African countries and two overseas territories. We show that the epidemics in most countries were initiated by importations predominantly from Europe, which diminished after the early introduction of international travel restrictions. As the pandemic progressed, ongoing transmission in many countries and increasing mobility led to the emergence and spread within the continent of many variants of concern and interest, such as B.1.351, B.1.525, A.23.1, and C.1.1. Although distorted by low sampling numbers and blind spots, the findings highlight that Africa must not be left behind in the global pandemic response, otherwise it could become a source for new variants