AGRICULTURAL COOPERATIVES AND RISK MANAGEMENT:IMPACT ON FINANCIAL PERFORMANCE

Agricultural cooperatives, like all agribusinesses, operate in an inherently risky environment. Many risk management tools exist, but agricultural cooperatives have been slow to adopt sophisticated risk management practices. Using simulation methods, this paper presents insight into how both traditional and innovative risk management practices effect the distribution of key financial variables for agricultural cooperatives.Agribusiness,

RISK MANAGEMENT TECHNIQUES FOR AGRICULTURAL COOPERATIVES: AN EMPIRICAL EVALUATION

While not ignoring risk, agricultural cooperatives tend to accommodate risk through the holding of internal capital reserves rather than engage in active risk management. A lack of information regarding the risk, returns, and the effect on cooperative financial performance of both traditional and innovative risk management strategies is likely a constraint to the adoption of active risk management by cooperatives. In this research, we examine the influence of alternative risk management strategies on cooperative financial performance, namely the return on assets (ROA) of grain merchandising cooperatives of various sizes. Strategies include traditional exchange traded futures and options strategies, an over-the-counter revenue swap, throughput insurance, and combinations of price and throughput strategies. Each of these strategies, for small, medium, and large size firms, are evaluated using a range of procedures including techniques which rely on mean-variance efficiency as well as evaluation procedures which help determine the ability of a strategy to mitigate downside risk. The results of the simulation exercise provide considerable support for the routine buying of at-the-money put options in setting a commodity floor price. The results also support the use, and perhaps the development, of insurance on cooperative throughput if the insurance product is used in conjunction with a price risk management strategy, in essence providing a hedge against downfalls in revenue. Over-the-counter revenue swaps, while intuitively appealing, did not perform well on average relative to more traditional exchange traded products. This result is especially important given the added counter party risk associated with such contracts. However, in some cases, the revenue swap, as well routine hedging with futures, performed better under a Value-at-Risk evaluation criteria than with a mean-variance criteria. Hence, it is important for cooperative managers to consider these results in the context of the risk management goals.Agribusiness,

The Multidimensional Mortality Awareness Measure & Model (MMAMM): Development and validation of a new self-report questionnaire & psychological framework

For each of eight literature-identified conceptual dimensions of mortality awareness, questionnaire items were generated, producing 89 in all. 359 participants responded to these items and to questionnaires measuring health attitudes, risk-taking, rebelliousness and demographic variables. Multivariate correlational analyses investigated the underlying structure of the item pool and the construct validity as well as the reliability of the emergent empirically derived subscales. Five components, rather than eight, were identified. Given the item content of each, the associated mortality awareness subscales were labelled as: legacy, fearfulness, acceptance, disempowerment, and disengagement. Each attained an acceptable level of internal reliability. Relationships with other variables supported the construct validity of these empirically derived subscales and more generally of this five-factor model. In conclusion, this new multidimensional measure and model of mortality awareness extends our understanding of this important aspect of human existence and supports a more integrative and optimistic approach to mortality awareness than previously available

Cancer immunology and canine malignant melanoma: a comparative review

Oral canine malignant melanoma (CMM) is a spontaneously occurring aggressive tumour with relatively few medical treatment options, which provides a suitable model for the disease in humans. Historically, multiple immunotherapeutic strategies aimed at provoking both innate and adaptive anti-tumour immune responses have been published with varying levels of activity against CMM. Recently, a plasmid DNA vaccine expressing human tyrosinase has been licensed for the adjunct treatment of oral CMM. This article reviews the immunological similarities between CMM and the human counterpart; mechanisms by which tumours evade the immune system; reasons why melanoma is an attractive target for immunotherapy; the premise of whole cell, dendritic cell (DC), viral and DNA vaccination strategies alongside preliminary clinical results in dogs. Current “gold standard” treatments for advanced human malignant melanoma are evolving quickly with remarkable results being achieved following the introduction of immune checkpoint blockade and adoptively transferred cell therapies. The rapidly expanding field of cancer immunology and immunotherapeutics means that rational targeting of this disease in both species should enhance treatment outcomes in veterinary and human clinics

LIM kinase inhibitors disrupt mitotic microtubule organization and impair tumor cell proliferation

The actin and microtubule cytoskeletons are critically important for cancer cell proliferation, and drugs that target microtubules are widely-used cancer therapies. However, their utility is compromised by toxicities due to dose and exposure. To overcome these issues, we characterized how inhibition of the actin and microtubule cytoskeleton regulatory LIM kinases could be used in drug combinations to increase efficacy. A previously-described LIMK inhibitor (LIMKi) induced dose-dependent microtubule alterations that resulted in significant mitotic defects, and increased the cytotoxic potency of microtubule polymerization inhibitors. By combining LIMKi with 366 compounds from the GSK Published Kinase Inhibitor Set, effective combinations were identified with kinase inhibitors including EGFR, p38 and Raf. These findings encouraged a drug discovery effort that led to development of CRT0105446 and CRT0105950, which potently block LIMK1 and LIMK2 activity in vitro, and inhibit cofilin phosphorylation and increase αTubulin acetylation in cells. CRT0105446 and CRT0105950 were screened against 656 cancer cell lines, and rhabdomyosarcoma, neuroblastoma and kidney cancer cells were identified as significantly sensitive to both LIMK inhibitors. These large-scale screens have identified effective LIMK inhibitor drug combinations and sensitive cancer types. In addition, the LIMK inhibitory compounds CRT0105446 and CRT0105950 will enable further development of LIMK-targeted cancer therapy

Association of 6-Minute Walk Performance and Physical Activity With Incident Ischemic Heart Disease Events and Stroke in Peripheral Artery Disease.

BackgroundWe determined whether poorer 6-minute walk performance and lower physical activity levels are associated with higher rates of ischemic heart disease (IHD) events in people with lower extremity peripheral artery disease (PAD).Methods and resultsFive hundred ten PAD participants were identified from Chicago-area medical centers and followed prospectively for 19.0±9.5 months. At baseline, participants completed the 6-minute walk and reported number of blocks walked during the past week (physical activity). IHD events were systematically adjudicated and consisted of new myocardial infarction, unstable angina, and cardiac death. For 6-minute walk, IHD event rates were 25/170 (14.7%) for the third (poorest) tertile, 10/171 (5.8%%) for the second tertile, and 6/169 (3.5%) for the first (best) tertile (P=0.003). For physical activity, IHD event rates were 21/154 (13.6%) for the third (poorest) tertile, 15/174 (8.6%) for the second tertile, and 5/182 (2.7%) for the first (best) tertile (P=0.001). Adjusting for age, sex, race, smoking, body mass index, comorbidities, and physical activity, participants in the poorest 6-minute walk tertile had a 3.28-fold (95% CI 1.17 to 9.17, P=0.024) higher hazard for IHD events, compared with those in the best tertile. Adjusting for confounders including 6-minute walk, participants in the poorest physical activity tertile had a 3.72-fold (95% CI 1.24 to 11.19, P=0.019) higher hazard for IHD events, compared with the highest tertile.ConclusionsSix-minute walk and physical activity predict IHD event rates in PAD. Further study is needed to determine whether interventions that improve 6-minute walk, physical activity, or both can reduce IHD events in PAD

Acceleration-Induced Deconfinement Transitions in de Sitter Spacetime

In this note, we consider confining gauge theories in $D=2,3,4$ defined by $S^2$ or $T^2$ compactification of higher-dimensional conformal field theories with gravity duals. We investigate the behavior of these theories on de Sitter spacetime as a function of the Hubble parameter. We find that in each case, the de Sitter vacuum state of the field theory (defined by Euclidian continuation from a sphere) undergoes a deconfinement transition as the Hubble parameter is increased past a critical value. In each case, the corresponding critical de Sitter temperature is smaller than the corresponding Minkowski-space deconfinement temperature by a factor nearly equal to the dimension of the de Sitter spacetime. The behavior is qualitatively and quantitatively similar to that for confining theories defined by $S^1$ compactification of CFTs, studied recently in arXiv:1007.3996.Comment: 25 pages, 7 figure

Nuclear shadowing in deep inelastic scattering on nuclei: leading twist versus eikonal approaches

We use several diverse parameterizations of diffractive parton distributions, extracted in leading twist QCD analyses of the HERA diffractive deep inelastic scattering (DIS) data, to make predictions for leading twist nuclear shadowing of nuclear quark and gluon distributions in DIS on nuclei. We find that the HERA diffractive data are sufficiently precise to allow us to predict large nuclear shadowing for gluons and quarks, unambiguously. We performed detailed studies of nuclear shadowing for up and charm sea quarks and gluons within several scenarios of shadowing and diffractive slopes, as well as at central impact parameters. We compare these leading twist results with those obtained from the eikonal approach to nuclear shadowing (which is based on a very different space-time picture) and observe sharply contrasting predictions for the size and Q^2-dependence of nuclear shadowing. The most striking differences arise for the interaction of small dipoles with nuclei, in particular for the longitudinal structure function F_{L}^{A}.Comment: 43 pages, 16 figures, requires JHEP style fil

Gastrointestinal Cell Injury and Percieved Symptoms after Running the Boston Marathon

Gastrointestinal (GI) disturbances are a prevalent cause of marathon related complaints, and in extreme cases can promote life-threatening conditions such as exertional heat stroke. PURPOSE: Our aim was to study intestinal cell injury (via intestinal fatty acid binding protein [I-FABP]) and perceived GI distress symptoms among marathon runners. Potential risk factors (e.g., inadequate sleep) that could exacerbate GI disturbances in healthy, trained endurance runners were also examined. METHODS: A parallel mixed-methods study design was utilized. 2019 Boston Marathon participants were recruited via email. Before the race subjects completed surveys describing demographics and training history. Immediately pre-race, post-race, and 24-hours post-race participants completed a GI questionnaire to assess presence and severity of symptoms, a survey regarding risk factors (e.g., recent illness, medications) that could promote GI disturbances, and provided a urine sample. Due to weather, blood samples were only collected immediately and 24-hours post-race. RESULTS: A total of 40 runners (males: n = 19, age = 44.9 ± 10.8 years; females: n = 21, age = 44.8 ± 10.6 years) completed this study. I-FABP significantly decreased from post-race (3367.5 ± 2633.5 pg/ml) to 24-hours post-race (1657.3 ± 950.7 pg/ml, t(39) = -4.228, p \u3c .001, d = -.669). A significant difference in overall GI symptom scores across the three time points occurred (F(2, 39) = 41.37, p \u3c .001). Compared to pre-race (.09 ± .12) and 24-hour post-race (.44 ± .28), the highest average score occurred post-race (.84 ± .68). Post-race I-FABP (r = .31, p = .048) and post-race urine specific gravity (r = .33, p = .041) were significantly correlated with post-race GI symptom scores. CONCLUSION: Our study further supports the individualized presentation of GI disturbances, with participants experiencing a wide range of risk factors that can influence the extent of GI damage and perceived symptoms during and after exercise