An examination of stock market performance in China using accounting information

This study aims to examine the usefulness of China accounting information in reflecting the stock returns in China stock markets and to recognize the significant factors that are possibly related to the stock returns in A shares and B shares respectively.Peoples’ Republic of China accounting standard (PRC accounting standard) is used for A shares whereas International Accounting Standard (IAS) is used for B shares. By comparing the two accounting standards, we found that the definition of some items and concepts of the financial statements are different. Consequently, the values of the financial ratios are varied. In order to recognize the significant factors in A shares and B shares, the means of factor analysis was adopted to sort out important factors from a large number of financial ratios. For A shares, profitability, interest efficiency, liquidity, asset efficiency and earning power are found to be significant factors. While for B shares, the significant factors are profitability, asset efficiency, liquidity, operating efficiency and earning on interest expense. After running the regression with A shares daily returns and B shares daily returns to their respective significant factors, profitability, asset efficiency and earning power are found to be significant at 5% level in A shares and only profitability is found to be significant at 1% level for B shares

The EDGE-CALIFA Survey: Interferometric Observations of 126 Galaxies with CARMA

We present interferometric CO observations, made with the Combined Array for Millimeter-wave Astronomy (CARMA) interferometer, of galaxies from the Extragalactic Database for Galaxy Evolution survey (EDGE). These galaxies are selected from the Calar Alto Legacy Integral Field Area (CALIFA) sample, mapped with optical integral field spectroscopy. EDGE provides good-quality CO data (3σ sensitivity before inclination correction, resolution ∼1.4 kpc) for 126 galaxies, constituting the largest interferometric CO survey of galaxies in the nearby universe. We describe the survey and data characteristics and products, then present initial science results. We find that the exponential scale lengths of the molecular, stellar, and star-forming disks are approximately equal, and galaxies that are more compact in molecular gas than in stars tend to show signs of interaction. We characterize the molecular-to-stellar ratio as a function of Hubble type and stellar mass and present preliminary results on the resolved relations between the molecular gas, stars, and star-formation rate. We then discuss the dependence of the resolved molecular depletion time on stellar surface density, nebular extinction, and gas metallicity. EDGE provides a key data set to address outstanding topics regarding gas and its role in star formation and galaxy evolution, which will be publicly available on completion of the quality assessment.Fil: Bolatto, Alberto. University of Maryland; Estados UnidosFil: Wong, Tony. University of Illinois at Urbana; Estados UnidosFil: Utomo, Dyas. University of California at Berkeley; Estados UnidosFil: Blitz, Leo. University of California at Berkeley; Estados UnidosFil: Vogel, Stuart N.. University of Maryland; Estados UnidosFil: Sánchez, Sebastián F.. Universidad Nacional Autónoma de México; MéxicoFil: Barrera-Ballesteros, Jorge. University Johns Hopkins; Estados UnidosFil: Cao, Yixian. University of Illinois; Estados UnidosFil: Colombo, Dario. Max Planck Institut Fur Radioastronomie; AlemaniaFil: Dannerbauer, Helmut. Universidad de La Laguna; EspañaFil: García-Benito, Rubén. Instituto de Astrofísica de Andalucía; EspañaFil: Herrera-Camus, Rodrigo. Max Planck Institute für Extraterrestrische Physik; AlemaniaFil: Husemann, Bernd. Max-Planck-Institut für Astronomie; AlemaniaFil: Kalinova, Veselina. Max Planck Institut für Radioastronomie; AlemaniaFil: Leroy, Adam K.. Ohio State University; Estados UnidosFil: Leung, Gigi. Max-Planck-Institut für Astronomie; AlemaniaFil: Levy, Rebecca C.. University of Maryland; Estados UnidosFil: Mast, Damian. Observatorio Astronomico de la Universidad Nacional de Cordoba; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Córdoba; ArgentinaFil: Ostriker, Eve. University of Princeton; Estados UnidosFil: Rosolowsky, Erik. University of Alberta; CanadáFil: Sandstrom, Karin M.. University of California at San Diego; Estados UnidosFil: Teuben, Peter. University of Maryland; Estados UnidosFil: Van De Ven, Glenn. Max-Planck-Institut für Astronomie; AlemaniaFil: Walter, Fabian. Max-Planck-Institut für Astronomie; Alemani

Different types of visual cells in the photoreceptor layer of the retinae of the treeshrew (Tupaia belangeri chinensis) as revealed by scanning microscopy

The retinae of treeshrew have never been evaluated by scanning electron microscopic studies. This work described the visual cells in the photoreceptor layer of the retinae of treeshrew (Tupaia belangeri chinensis) living on the high plateau of Yunnan, China, via scanning electron microscopy. Results indicated five different types of cones morphologically, in which two of those have shown oil droplet like structures in their inner segments. To our knowledge, no prior studies have reported oil droplets in the visual cells of higher mammals, only in lower vertebrate and primitive mammals. In addition, this study revealed one type of degenerative visual cell without outer segments. The findings signal the needs for additional studies to understand the physiological functions and phylogenetic relationships of the diversity of visual cells in this group of mammal

Hair Follicle Mesenchyme-Associated PD-L1 Regulates T-Cell Activation Induced Apoptosis: A Potential Mechanism of Immune Privilege

The immune privilege (IP) of hair follicles (HFs) has been well established in previous studies. However, whether cultured HF cells still exhibit IP properties, the individual factors involved in this process, and the detailed mechanisms that drive and maintain IP, are largely unidentified. We found preferential expression of IP-associated genes in cultured HF dermal papilla and dermal sheath cup cells (DSCCs) compared with non-follicular fibroblasts (FBs) at passage 4, suggesting a potential for functional IP. Notably, programmed cell death 1 ligand 1 (PD-L1) was significantly upregulated in DSCCs and dermal papilla cells relative to FBs. IFNγ secretion from peripheral blood mononuclear cells (PBMCs) co-cultured with histoincompatible DSCCs was significantly lower than with FB and higher percentages of early apoptotic, Annexin V+ cells were observed in PBMC co-cultured with DSCCs. Knockdown of PD-L1 translation by silencing interfering RNA in DSCCs enabled increased IFNγ secretion by PBMCs, whereas transfection of pCMV6-XL4/hPD-L1 in FB significantly reduced IFNγ secretion and increased apoptosis in co-cultured PBMCs. We also found that apoptosis in allogeneic T cells induced by DSCCs was largely dependent on the mitochondrial pathway. Our study suggests IP properties are exhibited in cultured DSCCs in part through expression of negative co-signaling molecule PD-L1

The EDGE-CALIFA survey: validating stellar dynamical mass models with CO kinematics

Deriving circular velocities of galaxies from stellar kinematics can provide an estimate of their total dynamical mass, provided a contribution from the velocity dispersion of the stars is taken into account. Molecular gas (e.g., CO) on the other hand, is a dynamically cold tracer and hence acts as an independent circular velocity estimate without needing such a correction. In this paper we test the underlying assumptions of three commonly used dynamical models, deriving circular velocities from stellar kinematics of 54 galaxies (S0-Sd) that have observations of both stellar kinematics from the CALIFA survey, and CO kinematics from the EDGE survey. We test the Asymmetric Drift Correction (ADC) method, as well as Jeans, and Schwarzschild models. The three methods each reproduce the CO circular velocity at 1Re to within 10%. All three methods show larger scatter (up to 20%) in the inner regions (R < 0.4Re) which may be due to an increasingly spherical mass distribution (which is not captured by the thin disk assumption in ADC), or non-constant stellar M/L ratios (for both the JAM and Schwarzschild models). This homogeneous analysis of stellar and gaseous kinematics validates that all three models can recover Mdyn at 1Re to better than 20%, but users should be mindful of scatter in the inner regions where some assumptions may break down.Comment: 22 pages, 18 figures, Accepted for publication in MNRA

Hair Follicle Dermal Sheath Derived Cells Improve Islet Allograft Survival without Systemic Immunosuppression

Immunosuppressive drugs successfully prevent rejection of islet allografts in the treatment of type I diabetes. However, the drugs also suppress systemic immunity increasing the risk of opportunistic infection and cancer development in allograft recipients. In this study, we investigated a new treatment for autoimmune diabetes using naturally immune privileged, hair follicle derived, autologous cells to provide localized immune protection of islet allotransplants. Islets from Balb/c mouse donors were cotransplanted with syngeneic hair follicle dermal sheath cup cells (DSCC, group 1) or fibroblasts (FB, group 2) under the kidney capsule of immune-competent, streptozotocin induced, diabetic C57BL/6 recipients. Group 1 allografts survived significantly longer than group 2 (32.2 ± 12.2 versus 14.1 ± 3.3 days, P<0.001) without administration of any systemic immunosuppressive agents. DSCC reduced T cell activation in the renal lymph node, prevented graft infiltrates, modulated inflammatory chemokine and cytokine profiles, and preserved better beta cell function in the islet allografts, but no systemic immunosuppression was observed. In summary, DSCC prolong islet allograft survival without systemic immunosuppression by local modulation of alloimmune responses, enhancing of beta cell survival, and promoting of graft revascularization. This novel finding demonstrates the capacity of easily accessible hair follicle cells to be used as local immunosuppression agents in islet transplantation

Deficiency in Nucleotide Excision Repair Family Gene Activity, Especially ERCC3, Is Associated with Non-Pigmented Hair Fiber Growth

We conducted a microarray study to discover gene expression patterns associated with a lack of melanogenesis in non-pigmented hair follicles (HF) by microarray. Pigmented and non-pigmented HFs were collected and micro-dissected into the hair bulb (HB) and the upper hair sheaths (HS) including the bulge region. In comparison to pigmented HS and HBs, nucleotide excision repair (NER) family genes ERCC1, ERCC2, ERCC3, ERCC4, ERCC5, ERCC6, XPA, NTPBP, HCNP, DDB2 and POLH exhibited statistically significantly lower expression in non- pigmented HS and HBs. Quantitative PCR verified microarray data and identified ERCC3 as highly differentially expressed. Immunohistochemistry confirmed ERCC3 expression in HF melanocytes. A reduction in ERCC3 by siRNA interference in human melanocytes in vitro reduced their tyrosinase production ability. Our results suggest that loss of NER gene function is associated with a loss of melanin production capacity. This may be due to reduced gene transcription and/or reduced DNA repair in melanocytes which may eventually lead to cell death. These results provide novel information with regard to melanogenesis and its regulation

Voice pitch characteristics of Cantonese and English produced by Cantonese-English bilingual children

Two-minute spontaneous conversational speech of English and Cantonese was obtained from 86 Cantonese-English bilingual children. As a physical measurement of the rate of vocal fold vibration during speech production, fundamental frequency (F0) characteristics including the mean speaking F0, pitch sigma, minimum and maximum F0 values were measured from the medial 60-second portion of the speech samples by using Praat. F0 data measured from the English and Cantonese productions were statistically compared. Significant correlation was found for speaking F0, pitch sigma, and F0 range values between Cantonese and English. Results indicated that speaking F0 and F0 range values were significantly lower in Cantonese than in English. It is speculated that such difference is related to the tonal nature of Cantonese, although language proficiency may play a role in the discrepant F0 findings