Biofabrication of a Functional Tubular Construct from Tissue Spheroids Using Magnetoacoustic Levitational Directed Assembly

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Magnetic levitational bioassembly of 3D tissue construct in space

Magnetic levitational bioassembly of three-dimensional (3D) tissue constructs represents a rapidly emerging scaffold- and label-free approach and alternative conceptual advance in tissue engineering. The magnetic bioassembler has been designed, developed, and certified for life space research. To the best of our knowledge, 3D tissue constructs have been biofabricated for the first time in space under microgravity from tissue spheroids consisting of human chondrocytes. Bioassembly and sequential tissue spheroid fusion presented a good agreement with developed predictive mathematical models and computer simulations. Tissue constructs demonstrated good viability and advanced stages of tissue spheroid fusion process. Thus, our data strongly suggest that scaffold-free formative biofabrication using magnetic fields is a feasible alternative to traditional scaffold-based approaches, hinting a new perspective avenue of research that could significantly advance tissue engineering. Magnetic levitational bioassembly in space can also advance space life science and space regenerative medicine. Copyright © 2020 The Authors, some rights reserved; exclusive licensee American Association for the Advancement of Science. No claim to original U.S. Government Works. Distributed under a Creative Commons Attribution License 4.0 (CC BY)

Evaluation of Malaysian mutual funds in the maximum drawdown risk measure framework

PURPOSE – This paper aims to evaluate the risk-adjusted performance of the management styles of Malaysian mutual funds using nine modified performance evaluation measures generated by the maximum drawdown risk measure (M-DRM) based on the modern portfolio theory. The purpose is to report the findings in a manner which is realizable by the average investors and portfolio managers. DESIGN/METHODOLOGY/APPROACH – This paper evaluates the performance of more than 400 Malaysian mutual funds using risk-adjusted returns over the two sub-periods of 2000-2005 and 2006-2011. The M-DRM, as a different measure from downside risk, is applied to improve nine risk-adjusted performance measures of Sortino, Treynor, M-squared, Jensen's alpha, information ratio (IR), MSR, upside partial ration (UPR), FPI, and leverage factor. It proposes a new single-factor model to test the maximum drawdown beta and alpha in the M-DRM framework. FINDINGS – The evidence clearly indicates that the replacement framework in terms of MDB, the maximum drawdown beta, and the maximum drawdown CAPM can be replaced by the conventional frameworks in terms of MVB, beta, and the CAPM and also MSB, downside beta, and D-CAPM for modifying nine performance evaluation measures from the management styles of Malaysian mutual funds. PRACTICAL IMPLICATIONS – The research evidence reported in this paper can be applied as input in the process of decision making by small and average investors and portfolio managers who are seeking the possibility of participating in the global stock market through mutual funds. ORIGINALITY/VALUE – This paper is the first study to estimate a new regression model in the M-DRM framework to evaluate the performance of Malaysian mutual funds. In addition, it proposes nine modified performance evaluation measures in the M-DRM framework for the first time.Mohammad Reza Tavakoli Baghdadabad, Paskalis Glabadanidi