International diversification with factor funds

We propose a new investment strategy employing "factor funds" to systematically enhance the meanvariance efficiency of international diversification. Our approach is motivated by the increasing evidence that size (SMB), book-to-market (HML), and momentum (MOM) factors, along with the market factor, adequately describe international stock returns, and by the direct link between investors' portfolio choice problems and international asset pricing theories and tests. Using data from 10 developed countries during the period 1981-2008, we show that the "augmented" optimal portfolio involving local factor funds substantially outperforms the "benchmark" optimal portfolio comprising country market indices only as measured by their portfolio Sharpe ratios. This strongly rejects the intersection hypothesis which posits that the local factor funds do not span investment opportunities beyond what country market indices do. Among the three classes of factor funds, HML funds contribute most to the efficiency gains. In addition, the local version of factor funds outperforms the global factor funds. The added gains from local factor diversification are significant for both in-sample and out-of-sample periods, and for a realistic range of additional investment costs for factor funds, and remain robust over time. Copyright © 2010 INFORMS.preprin

Erlotinib in patients with previously irradiated, recurrent brain metastases from non-small cell lung cancer: Two case reports

Background: With the current improvements in primary lung care, the long-term control of brain metastases becomes a clinical challenge. No established therapeutic approaches exist for cranial relapse after response to previous radiotherapy and systemic therapy. Tyrosine kinase inhibitors like erlotinib with its proven activity in non-small cell lung cancer may provide clinical benefits in such patients. Patients and Methods: Two case reports are presented illustrating the efficacy of erlotinib in patients with recurrent brain metastases and parallel thoracic progression. Results: Both patients showed lasting partial remissions in the brain and lung, and clinical symptom improvement. Conclusion: The observed survival times of above 18 and 15 months, respectively, since occurrence of cranial disease manifestation in line with the achieved progression-free survival times of 9 and 6 months by the erlotinib third-line therapy are remarkable. The use of targeted therapies after whole-brain irradiation should be investigated more systematically in prospective clinical trials

Impact of dye interlayer on the performance of organic photovoltaic devices

The influences of buffer interlayer at the donor/acceptor interface on the open circuit voltage (VOC) of typical copper phthalocyanine (CuPc) / C60 organic photovoltaic devices are studied. Six fluorescent dyes with progressively increasing ionization potentials (I P) were used to investigate the factors influencing the VOC. The short-circuit current and fill factor of CuPc/ C60 device incorporating dye interlayer are lower than those of standard bilayer device. On the other hand, the VOC increases linearly with the I P of dye material and falls off when the I P is equal to or greater than 5.6 eV, in which the energy offset between the highest occupied molecular orbitals at the interlayer/ C60 heterojunction is smaller than the C60 exciton binding energy. The findings underscore the importance of energy offsets in photovoltaic responses. © 2009 American Institute of Physics.published_or_final_versio

Anode modification of polyfluorene-based polymer light-emitting devices

A glycerol-modified poly(3,4-ethylene dioxythiophene) (PEDOT): poly(styrene sulfonate) (PSS) layer was used as an anode buffer layer in polymer light-emitting devices using poly(9,9-dioctylfluorene) (F8) as the emitter. Devices with a configuration of indium tin oxide/PEDOT:PSS (with or without glycerol)/F8/CsF/Al were fabricated. It was found that the glycerol-modified device showed a much larger current density than the unmodified device. At an operating voltage of 6 V, the glycerol-modified device showed a luminance of 1300Cd/m 2 and a current efficiency of 1.7 Cd/A compared to the corresponding values of 500Cd/m 2 and 1.3 Cd/A in the unmodified device. Analysis by ultraviolet spectroscopy suggests that the two devices have the same energy level structure and the performance improvement should not be due to change in the PEDOT/polymer interface. It was further found that incorporating a suitable amount of glycerol into the PEDOT:PSS layer can increase its conductivity by six times. This leads to a better balance in the hole and electron currents and thus improved device efficiency. © 2002 American Institute of Physics.published_or_final_versio

A practical approach to synthesize polyamide thin film nanocomposite (TFN) membranes with improved separation properties for water/wastewater treatment

TFN membranes containing 0.05 or 0.10 w/v% surface-functionalized TNTs in a PA selective layer were synthesized for better performances in water/wastewater treatment.</p

Residential Assessment Instrument 2.0 in care planning for residents in nursing homes

published_or_final_versio

Solutions of Several Coupled Discrete Models in terms of Lame Polynomials of Order One and Two

Coupled discrete models abound in several areas of physics. Here we provide an extensive set of exact quasiperiodic solutions of a number of coupled discrete models in terms of Lame polynomials of order one and two. Some of the models discussed are (i) coupled Salerno model, (ii) coupled Ablowitz-Ladik model, (iii) coupled saturated discrete nonlinear Schrodinger equation, (iv) coupled phi4 model, and (v) coupled phi6 model. Furthermore, we show that most of these coupled models in fact also possess an even broader class of exact solutions.Comment: 31 pages, to appear in Pramana (Journal of Physics) 201

Efficacy of mycophenolate mofetil in patients with diffuse proliferative lupus nephritis

Background: The combination of cyclophosphamide and prednisolone is effective for the treatment of severe lupus nephritis but has serious adverse effects. Whether mycophenolate mofetil can be substituted for cyclophosphamide is not known. Methods: In 42 patients with diffuse proliferative lupus nephritis we compared the efficacy and side effects of a regimen of prednisolone and mycophenolate mofetil given for 12 months with those of a regimen of prednisolone and cyclophosphamide given for 6 months, followed by prednisolone and azathioprine for 6 months. Complete remission was defined as a value for urinary protein excretion that was less than 0.3 g per 24 hours, with normal urinary sediment, a normal serum albumin concentration, and values for serum creatinine and creatinine clearance that were no more than 15 percent above the base-line values. Partial remission was defined as a value for urinary protein excretion that was between 0.3 and 2.9 g per 24 hours, with a serum albumin concentration of at least 3.0 g per deciliter. Results: Eighty-one percent of the 21 patients treated with mycophenolate mofetil and prednisolone (group 1) had a complete remission, and 14 percent had a partial remission, as compared with 76 percent and 14 percent, respectively, of the 21 patients treated with cyclophosphamide and prednisolone followed by azathioprine and prednisolone (group 2). The improvements in the degree of protelnuria and the serum albumin and creatinine concentrations were similar in the two groups. One patient in each group discontinued treatment because of side effects. Infections were noted in 19 percent of the patients in group 1 and in 33 percent of those in group 2 (P=0.29). Other adverse effects occurred only in group 2; they included amenorrhea (in 23 percent of the patients), hair loss (19 percent), leukopenia (10 percent), and death (10 percent). The rates of relapse were 15 percent and 11 percent, respectively. Conclusions: For the treatment of diffuse proliferative lupus nephritis, the combination of mycophenolate mofetil and prednisolone is as effective as a regimen of cyclophosphamide and prednisolone followed by azathioprine and prednisolone. (C) 2000, Massachusetts Medical Society.published_or_final_versio

Cost benefit analysis and data analytics for renewable energy and electrical energy storage

To accommodate with the global increase in the deployment of solar photovoltaic (PV) and energy storage system (ESS), a deterministic approach for sizing PV and ESS with anaerobic digestion biogas power plant; to meet a load demand will be presented in this plenary session. This aim is to maximize the sizing of PV to increase the security of energy supply. Energy economics for ESS will be a focus. Case study based on real-life data will be used to demonstrate the validity of the new approach

Uncovering regulatory pathways that affect hematopoietic stem cell function using 'genetical genomics'

We combined large-scale mRNA expression analysis and gene mapping to identify genes and loci that control hematopoietic stem cell (HSC) function. We measured mRNA expression levels in purified HSCs isolated from a panel of densely genotyped recombinant inbred mouse strains. We mapped quantitative trait loci (QTLs) associated with variation in expression of thousands of transcripts. By comparing the physical transcript position with the location of the controlling QTL, we identified polymorphic cis-acting stem cell genes. We also identified multiple trans-acting control loci that modify expression of large numbers of genes. These groups of coregulated transcripts identify pathways that specify variation in stem cells. We illustrate this concept with the identification of candidate genes involved with HSC turnover. We compared expression QTLs in HSCs and brain from the same mice and identified both shared and tissue-specific QTLs. Our data are accessible through WebQTL, a web-based interface that allows custom genetic linkage analysis and identification of coregulated transcripts.