Fully Resolved assembly of Cryptosporidium Parvum

BACKGROUND: Cryptosporidium parvum is an apicomplexan parasite commonly found across many host species with a global infection prevalence in human populations of 7.6%. Understanding its diversity and genomic makeup can help in fighting established infections and prohibiting further transmission. The basis of every genomic study is a high-quality reference genome that has continuity and completeness, thus enabling comprehensive comparative studies. FINDINGS: Here, we provide a highly accurate and complete reference genome of Cryptosporidium parvum. The assembly is based on Oxford Nanopore reads and was improved using Illumina reads for error correction. We also outline how to evaluate and choose from different assembly methods based on 2 main approaches that can be applied to other Cryptosporidium species. The assembly encompasses 8 chromosomes and includes 13 telomeres that were resolved. Overall, the assembly shows a high completion rate with 98.4% single-copy BUSCO genes. CONCLUSIONS: This high-quality reference genome of a zoonotic IIaA17G2R1 C. parvum subtype isolate provides the basis for subsequent comparative genomic studies across the Cryptosporidium clade. This will enable improved understanding of diversity, functional, and association studies

What causes the IPO underpricing? New evidence from China’s SME market

© 2019, © 2019 Informa UK Limited, trading as Taylor & Francis Group. We study 10-year IPO initial returns in China’s small and medium-sized enterprise (SME) board between 2006 and 2016, including 755 IPO samples. At the same time, we test how policy changes of IPO pricing and trading mechanism affect first-day initial returns. Our article adopts the stochastic frontier approach to estimate the fair value of IPOs and decompose the components of deliberate underpricing and mis-valuation factors, then using linear regressions investigate correlation between first-day initial returns and deliberate underpricing or mis-valuation factors. We find it is mis-valuation factors, especially, the irrational behaviour of individual investors that mainly cause the IPO underpricing in China’s SME market rather than deliberate underpricing. Besides, influenced by IPO pricing policies, the characteristic of IPO pricing varies from period to period

Uncertainty and IPO initial returns: Evidence from the Tone Analysis of China\u27s IPO Prospectuses

© 2018 Elsevier B.V. IPO prospectuses play an irreplaceable role in the IPO process. The tone of IPO prospectuses, in terms of its definitiveness in characterizing the prospects and assessing the risks of different firms, could affect investors\u27 capability to estimate the firms that are about to go public. In a large sample of 1320 IPO prospectuses of China\u27s A-share market from 2007 to 2016, we find that uncertain or negative tone of IPO prospectuses is significantly associated with IPO initial returns and the post-IPO return volatility. Besides, empirical evidence shows that the negative or uncertain tone in the prospectuses lowers the stocks\u27 long-term returns. Our findings contribute to the literature by investigating the impact of connotative information transmission on stock returns during IPO process, based on which investors can do a better job in risk management

Asymmetric Effect of Media Tone on IPO Underpricing and Volatility

©, Copyright © Taylor & Francis Group, LLC. Because of asymmetric information between issuing companies and investors, media coverage plays an important role in conveying information to investors during an initial public offering (IPO). The stock price is affected by a large amount of information released to the public through media coverage. Using a comprehensive sample of 1,075 IPOs on China’s stock market from 2009 to 2016, this paper conducts a textual analysis to determine the tone of media coverage and examines the relationship between media tone and IPO underpricing as well as post-IPO volatility. The empirical results show that media coverage during an IPO is significantly negatively associated with IPO underpricing, which confirms our hypothesis that the tone of media coverage reduces the degree of information asymmetry between investors and issuers, regardless of whether the tone is positive or negative. Consistent with prospect theory, investors are more sensitive to media coverage with a negative tone