Efficiency, scale economies and valuation effects : evidence from bank mergers in India

Original article can be found at : http://www.inderscience.com/ Copyright Inderscience PublishersThis paper examines two important issues related to bank mergers in India. First, we estimate potential economic gains of state owned banks if they undergo consolidation. Scale economies, returns to scale and profit efficiency of state owned banks during 1986 to 2003 are estimated based on stochastic frontier analysis. We find that many Indian banks exhibit potential cost savings from mergers provided they rationalize their branch networks although profit efficiency may not rise immediately. Second we measure the realized impact of bank mergers on shareholders’ wealth based on event study analysis. We find that in the case of forced mergers, shareholders of neither the bidder nor the target banks benefited. In the case of voluntary mergers, the bidder banks’ shareholders gained more than the target banks’ shareholders.Peer reviewe

Interim Restorative Approach for the Management of Congenitally Missing Permanent Mandibular Incisors: Presentation of Three Cases

Congenital missing of mandibular permanent incisors with retained primary incisors may jeopardize the esthetic appearance and psychological development of children, especially during the years of transition into adolescence. The retained primary teeth are necessary for the maintenance and normal development of alveolar bone, which in turn is essential for future definitive rehabilitation. In such situations, an interim restoration may be provided before any definitive treatment is given to comfort the young patient during this transition period. Interim restorations may include resin-modified additions to the existing teeth as well as more sophisticated restorations such as resin-retained bridge and removable partial dentures. However, this restoration differs for different clinical situations based on various factors such as age and patient compliance, and also consideration has to be given for the growth changes of the child. The aim of this present paper is to discuss the esthetic management of three cases with bilateral agenesis of permanent mandibular incisors and retained primary incisors with composite interim restoration

Simple design tool for sizing solar ponds

This report presents a simple tool and method of analysis to aid practitioners in the planning and implementation of solar energy systems. This simple design tool for sizing solar ponds should aid analysts and planners in assessing the feasibility of solar ponds for any specified application, and in drawing up a preliminary plan for their implementation

Whale shark Rhincodon typus landed at Cooperage landing centre, Bombay

On 16-03-1993 a female Whale shark, which got entangled in a monofilament gill net (14 cm mesh size) was landed alive at Cooperage landing centre, Bombay at 1000 hrs and died at about 1400 hrs

Mid-Infrared interferometry of dust around massive evolved stars

We report long-baseline interferometric measurements of circumstellar dust around massive evolved stars with the MIDI instrument on the Very Large Telescope Interferometer and provide spectrally dispersed visibilities in the 8-13 micron wavelength band. We also present diffraction-limited observations at 10.7 micron on the Keck Telescope with baselines up to 8.7 m which explore larger scale structure. We have resolved the dust shells around the late type WC stars WR 106 and WR 95, and the enigmatic NaSt1 (formerly WR 122), suspected to have recently evolved from a Luminous Blue Variable (LBV) stage. For AG Car, the protoypical LBV in our sample, we marginally resolve structure close to the star, distinct from the well-studied detached nebula. The dust shells around the two WC stars show fairly constant size in the 8-13 micron MIDI band, with gaussian half-widths of ~ 25 to 40 mas. The compact dust we detect around NaSt1 and AG Car favors recent or ongoing dust formation. Using the measured visibilities, we build spherically symmetric radiative transfer models of the WC dust shells which enable detailed comparison with existing SED-based models. Our results indicate that the inner radii of the shells are within a few tens of AU from the stars. In addition, our models favor grain size distributions with large (~ 1 micron) dust grains. This proximity of the inner dust to the hot central star emphasizes the difficulty faced by current theories in forming dust in the hostile environment around WR stars. Although we detect no direct evidence for binarity for these objects, dust production in a colliding-wind interface in a binary system is a feasible mechanism in WR systems under these conditions.Comment: 21 pages, 4 tables, 13 figures. Accepted for publication in the Astrophysical Journa

Direct observation of incommensurate magnetism in Hubbard chains

The interplay between magnetism and doping is at the origin of exotic strongly correlated electronic phases and can lead to novel forms of magnetic ordering. One example is the emergence of incommensurate spin-density waves with a wave vector that does not match the reciprocal lattice. In one dimension this effect is a hallmark of Luttinger liquid theory, which also describes the low energy physics of the Hubbard model. Here we use a quantum simulator based on ultracold fermions in an optical lattice to directly observe such incommensurate spin correlations in doped and spin-imbalanced Hubbard chains using fully spin and density resolved quantum gas microscopy. Doping is found to induce a linear change of the spin-density wave vector in excellent agreement with Luttinger theory predictions. For non-zero polarization we observe a decrease of the wave vector with magnetization as expected from the Heisenberg model in a magnetic field. We trace the microscopic origin of these incommensurate correlations to holes, doublons and excess spins which act as delocalized domain walls for the antiferromagnetic order. Finally, when inducing interchain coupling we observe fundamentally different spin correlations around doublons indicating the formation of a magnetic polaron

Molecular estimation of neurodegeneration pseudotime in older brains.

The temporal molecular changes that lead to disease onset and progression in Alzheimer\u27s disease (AD) are still unknown. Here we develop a temporal model for these unobserved molecular changes with a manifold learning method applied to RNA-Seq data collected from human postmortem brain samples collected within the ROS/MAP and Mayo Clinic RNA-Seq studies. We define an ordering across samples based on their similarity in gene expression and use this ordering to estimate the molecular disease stage-or disease pseudotime-for each sample. Disease pseudotime is strongly concordant with the burden of tau (Braak score, P = 1.0 × 10-5), Aβ (CERAD score, P = 1.8 × 10-5), and cognitive diagnosis (P = 3.5 × 10-7) of late-onset (LO) AD. Early stage disease pseudotime samples are enriched for controls and show changes in basic cellular functions. Late stage disease pseudotime samples are enriched for late stage AD cases and show changes in neuroinflammation and amyloid pathologic processes. We also identify a set of late stage pseudotime samples that are controls and show changes in genes enriched for protein trafficking, splicing, regulation of apoptosis, and prevention of amyloid cleavage pathways. In summary, we present a method for ordering patients along a trajectory of LOAD disease progression from brain transcriptomic data

Case Report The Solitary Variant of Mandibular Intraosseous Neurofibroma: Report of a Rare Entity

Neurofibroma (NF) is a benign neoplasm derived from peripheral nerve cells. NF may extend either as a solitary lesion or as part of a generalized syndrome of neurofibromatosis. Intraorally, the intraosseous variant of neurofibroma is a very rare tumor. The literature provides only few cases of solitary intraosseous neurofibroma of the mandible. We report a case of 28-year-old female who was diagnosed with a solitary intraosseous neurofibroma involving the lower left quadrant of the mandible. The present case is rare in regard to its dimensions and its location

Comparison of Pittsburgh compound B and florbetapir in cross-sectional and longitudinal studies.

IntroductionQuantitative in vivo measurement of brain amyloid burden is important for both research and clinical purposes. However, the existence of multiple imaging tracers presents challenges to the interpretation of such measurements. This study presents a direct comparison of Pittsburgh compound B-based and florbetapir-based amyloid imaging in the same participants from two independent cohorts using a crossover design.MethodsPittsburgh compound B and florbetapir amyloid PET imaging data from three different cohorts were analyzed using previously established pipelines to obtain global amyloid burden measurements. These measurements were converted to the Centiloid scale to allow fair comparison between the two tracers. The mean and inter-individual variability of the two tracers were compared using multivariate linear models both cross-sectionally and longitudinally.ResultsGlobal amyloid burden measured using the two tracers were strongly correlated in both cohorts. However, higher variability was observed when florbetapir was used as the imaging tracer. The variability may be partially caused by white matter signal as partial volume correction reduces the variability and improves the correlations between the two tracers. Amyloid burden measured using both tracers was found to be in association with clinical and psychometric measurements. Longitudinal comparison of the two tracers was also performed in similar but separate cohorts whose baseline amyloid load was considered elevated (i.e., amyloid positive). No significant difference was detected in the average annualized rate of change measurements made with these two tracers.DiscussionAlthough the amyloid burden measurements were quite similar using these two tracers as expected, difference was observable even after conversion into the Centiloid scale. Further investigation is warranted to identify optimal strategies to harmonize amyloid imaging data acquired using different tracers