Why Do Main Banks Manage Earnings? : Client Firms' Perspective

Finance/AccountingThis paper examines how client firms’ financial performances influence their main banks. Specifically, this paper examines how client firms' net income, return on assets, and return on equity affect main banks' financial performances and earnings managements. There are several reasons why financial performances of client firms are more likely to influence their main banks. First, revenues of main banks heavily rely on interest revenues from client firms. If the client firms’ financial performances get worse, banks are more likely to suffer from increasing credit risks. Second, banks are known to have superior monitoring over client firms (Diamond, 1984). If client firms would not perform well, thier main banks are more likely to detect client firms' financial performances. Therefore, managers of main banks are more likely to take actions to maintain a certain level of capital ratio when financial performances of client firms do not well. Results of this study indicate that the client firms influence their main banks. Specifically, I find a positive and significant relationship between client firms’ financial performance and their main banks' financial performance. In addition, I find a negative and significant relationship between client firms' financial performance and their main banks' earnings management. This paper contributes to banks and earnings management literature by examining how client firms’ financial performances significantly influence their main banks. Most of prior literatures have documented that how main banks can significantly influence their client firms (Kang and Stulz, 2000; Baik and Choi, 2010). However, this paper provides evidence that how client firms influences to their main banks.ope

A Case of Streptococcus gallolyticus subsp gallolyticus Infective Endocarditis with Colon Cancer: Identification by 16S Ribosomal DNA Sequencing

Although the association between Streptococcus bovis endocarditis and colon carcinoma is well known, very few cases of S. bovis infection associated with underlying malignancies have been reported in Korea The S. bovis group has been recently reclassified and renamed as Streptococcus gallolyticus and Streptococcus infantarius subspecies under a new nomenclature system. We report a case of infective endocarditis with colon cancer caused by S. gallolyticus subsp. gallolyticus (previously named S. bovis biotype 1). A 59-yr-old woman presented with a 1-month history of fever. Initial blood cultures were positive for gram-positive cocci, and echocardiography showed vegetation on mitral and aortic valves. Antibiotic treatment for infective endocarditis was started. The infecting strain was a catalase-negative and bile-esculin-positive alpha-hemolytic Streptococcus susceptible to penicillin and vancomycin. The strain was identified as S. gallolyticus subsp. gallolyticus with the use of the Vitek 2 GPI and API 20 Strep systems (bioMerieux, USA). The 16S rDNA sequences of the blood culture isolates showed 100% homology with those of S. gallolyticus subsp. gallolyticus reported in GenBank. The identification of the infecting organism, and the subsequent communication among clinical microbiologists and physicians about the changed nomenclature, led to the detection of colon cancer. The patient recovered after treatment with antibiotics, valve surgery, and operation for colon cancer. This is the first report of biochemical and genetic identification of S. gallolyticus subsp. gallolyticus causing infective endocarditis associated with underlying colon cancer in a Korean patient. (Korean J Lib Med 2010;30:160-5)Herrero IA, 2002, J CLIN MICROBIOL, V40, P3848, DOI 10.1128/JCM.40.10.3848-3850.2002Beck M, 2008, J CLIN MICROBIOL, V46, P2966, DOI 10.1128/JCM.00078-08Poyart C, 2002, INT J SYST EVOL MICR, V52, P1247, DOI 10.1099/js.0.02044-0Clarridge JE, 2001, J CLIN MICROBIOL, V39, P1549KOH DW, 2001, KOREAN J GASTROINTES, V23, P503Schlegel L, 2000, INT J SYST EVOL MICR, V50, P1425Ellmerich S, 2000, CARCINOGENESIS, V21, P753KWACK KK, 2000, KOREAN J MED, V59, P198Devriese LA, 1998, J CLIN MICROBIOL, V36, P3520COYKENDALL AL, 1989, CLIN MICROBIOL REV, V2, P315Schlegel L, 2003, INT J SYST EVOL MICR, V53, P631, DOI 10.1099/ijs.0.02361-0UH Y, 2006, KOREAN J CLIN MICROB, V9, P36RUOFF KL, 1989, J CLIN MICROBIOL, V27, P305FARROW JAE, 1984, SYST APPL MICROBIOL, V5, P467WILSON WR, 1981, JAMA-J AM MED ASSOC, V245, P360KLEIN RS, 1979, ANN INTERN MED, V91, P560KLEIN RS, 1977, NEW ENGL J MED, V297, P800MC CW, 1951, J MED ASS STATE ALA, V21, P162

Hepatic Metastasis from Choriocarcinoma: Angiographic Findings in Two Cases

We report two cases of hepatic metastases from choriocarcinoma in women of childbearing age in whom imaging studies performed at presentation revealed the presence of liver masses, and who had clinically progressive anemia or intraabdominal hemorrhage. CT demonstrated heterogeneously enhanced liver masses. Characteristic angiographic findings included hypervascular hepatic masses with aneurysmal dilatations of the peripheral hepatic arteries at the arterial phase and persistent vascular lakes at the venous phase

Effect of Fermented Sauropus Androgynus Leaves on Blood Lipid Fraction and Haematological Profile in Broiler Chickens

This study was conducted to evaluate effect of fermented Sauropus androgynus leaves on blood lipid fractions and haematological profiles in broilers. One hundred and twelve broilers were distributed to 7 treatment groups. One group was fed diets without Sauropus androgynus leaves as the control, and other six groups were fed Sauropus androgynus leaves fermented by Neurospora crassa, Lactobacillus sp. or Saccharomyces cerevisiae at level of 25 g or 50 g/kg diet. Experimental results showed that the treatments had no effect on cholesterol, high-density lipoprotein cholesterol (HDL-c), low-density lipoprotein cholesterol (LDL-c) and atherogenic index, very low-density lipoprotein cholesterol (VLDL-c) and triglyceride concentration (P>0.05). It was shown that fermented Sauropus androgynus leaves significantly affected red blood count (RBC), white blood count (WBC), packed cell volume (PCV), trombosit dan erythrocyte sedimentation rate (ESR) (

Effect of increasing levels of apparent metabolizable energy on laying hens in barn system

Objective This experiment was to investigate the effect of increasing levels of apparent metabolizable energy (AMEn) on the laying performance, egg quality, blood parameters, blood biochemistry, intestinal morphology, and apparent total tract digestibility (ATTD) of energy and nutrients in diets fed to laying hens. Methods A total of three-hundred twenty 33-week-old Hy-Line Brown laying hens (Gallus domesticus) were evenly assigned to four experimental diets of 2,750, 2,850, 2,950, and 3,050 kcal AMEn/kg in pens with floors covered with deep litter of rice hulls. There were four replicates of each treatment, each consisting of 20 birds in a pen. Results AMEn intake was increased (linear, p<0.05) with inclusion level of AMEn in diets increased. Feed intake and feed conversion ratio were improved (linear, p<0.01), but hen-day egg production tended to be increased with an increasing level of AMEn in diets. During the experiment, leukocyte concentration and blood biochemistry (total cholesterol, triglyceride, glucose, total protein, calcium, asparate aminotransferase, and alanine transferase were not influenced by increasing level of AMEn in diets. Gross energy and ether extract were increased (linear, p<0.01) as the inclusion level of AMEn in diets increased. Conclusion Laying hens fed high AMEn diet (i.e., 3,050 kcal/kg in the current experiment) tended to overconsume energy with a positive effect on feed intake, feed conversion ratio, nutrient digestibility, and intestinal morphology but not on egg production and egg mass

Development of a Novel Intraoperative Neuromonitoring System Using a Surface Pressure Sensor to Detect Muscle Movement: A Rabbit Model Study

Objectives False-negative or false-positive responses in intraoperative neuromonitoring (IONM) using electromyography (EMG) in thyroid surgery pose a challenge. Therefore, we developed a novel IONM system that uses a surface pressure sensor instead of EMG to detect muscle twitching. This study aimed to investigate the feasibility and safety of a new IONM system using a piezo-electric surface pressure sensor in an experimental animal model. Methods We developed the surface pressure sensor by modifying a commercial piezo-electric sensor. We evaluated the stimulus thresholds to detect muscle movement, as well as the amplitude and latency of the EMG and surface pressure sensor in six sciatic nerves of three rabbits, according to the stimulus intensity. Results The surface pressure sensor detected the muscle movements in response to a 0.1 mA stimulation of all six sciatic nerves. There were no differences in the thresholds of stimulus intensity between the surface pressure sensor and EMG recordings to detect muscle movements. Conclusion It is possible to measure the change in surface pressure by using a piezo-electric surface pressure sensor instead of EMG to detect muscle movement induced by nerve stimulation. The application of IONM using a piezo-electric surface pressure sensor during surgery is noninvasive, safe, and feasible. Measuring muscle twitching to identify the state of the nerves using the novel IONM system can be an alternative to recording of EMG responses

A Synonymous Genetic Alteration of LMX1B in a Family with Nail-Patella Syndrome

The gene responsible for nail-patella syndrome, LMX1B, has recently been identified on chromosome 9q. Here we present a patient with nail-patella syndrome and an autosomal dominant pattern of inheritance. A 17-year-old girl visited our clinic for the evaluation and treatment of proteinuria. She had dystrophic nails, palpable iliac horns, and hypoplastic patellae. Electron microscopy of a renal biopsy showed irregular thickening of the glomerular basement membrane. A family history over three generations revealed five affected family members. Genetic analysis found a change of TCG to TCC, resulting in a synonymous alteration at codon 219 in exon 4 of the LMX1B gene in two affected family members. The same alteration was not detected in an unaffected family member. This is the first report of familial nail-patella syndrome associated with an LMX1B in Korea mutation, However, we can not completely rule out the possibility that the G-to-C change may be a single nucleotide polymorphism as this genetic mutation cause no alteration in amino acid sequence of LMX1B