Are online auction markets efficient? An empirical study of market liquidity and abnormal returns

Technological advances have facilitated investment in collectibles through online auction markets, where information regarding product characteristics, current and historical prices, and product availability is available to millions of market participants. However, market inefficiencies may still exist, where prices do not reflect market information and where savvy speculators can profit. Using unit root and variance ratio tests, we examine 8538 rare stamp and 56,997 rare coin auctions to evaluate the efficiency of online markets. In particular, we study market liquidity, abnormal returns and weak-form efficiency. We find an inverse relationship between market efficiency and liquidity. Bidder competition intrinsic to liquidity increases the chances that uninformed bidders drive up item prices, leading to the observed market inefficiencies

AN EMPIRICAL ANALYSIS OFTHE FACTORS THAT AFFECT NURSE RETENTION

Investigate the effects of stress, economic factors, altruism and value congruence on intentions to leave the profession in nursing. As the demand for nurses increases retaining nurses will be critical for healthcare organizations and the healthcare industry. We draw from a mature body of research on nurse retention to build the research model. We analyze data from a survey of 861 registered nurses in the southeastern United States. Structural equation modeling was used to analyze the survey. Results confirm the importance of stress and salaries. Strong evidence supports the importance of the fit between employer and nurse values. Finally, the analysis provides unexpected evidence of the reduction of opportunities nurses have to fulfill altruistic desires at work

How can virtual communities create value for business?

Virtual communities include everything from discussion boards to massive multiplayer online role-playing games and virtual realities such as Second Life. The business world has assumed that virtual communities can be leveraged to provide access to consumers and consumer data. The benefits of this assumption have not always been realized. The purpose of this article is to understand why some business ventures into virtual communities fail and others succeed. Why do virtual communities support certain types of business activities and not others? Which firm activities are the best candidates to benefit from being positioned in virtual communities? The theories of social contracts and trust explain how firms can successfully participate in virtual communities. The theories have implications in the context of transaction-oriented, interest-oriented, relationship-oriented, and fantasy-oriented communities. The value chain provides an instructive background to understand which firm activities are candidates for being included in virtual communities. Success in virtual communities depends on an attitude of contribution, dedication of resources, building a critical mass, and matching community and business needs. Because many social technologies are in the disillusionment stage of the hype cycle, further research in the business use of virtual communities is needed to guide business practices as we move to full adoption

Event sequence modeling of IT adoption in healthcare

Information systems research is replete with examples of the importance of business processes defining IT adoption. Business processes are influenced by both organizational and operational concerns. We evaluate the comparative importance of operational and organizational influences for complementary IT systems. In the context of acute-care hospitals the analysis shows that an organizational approach to automating a process is related to different financial outcomes than an operational approach. Six complementary systems supporting a three-stage medication management process are studied: prescribing, dispensing, and administration. The analysis uses firm-level, panel data extracted from the HIMSS Analytics database spanning ten years of IT adoption for 140 hospitals. We have augmented the HIMSS dataset with matching demographic and financial details from the American Hospital Association and the Centers for Medicare and Medicaid Services. Using event sequence analysis we explore whether organizations are more likely to adopt organization boundary spanning systems and if the sequence of adoption follows the temporal ordering of the business process steps. The research also investigates if there is a relationship between the paths to IT adoption and financial performance. Comparison of the two measures suggests that the organizational model of adoption is observed more often in the data. Following the organizational model of adoption is associated with approximately $155 dollar increase in net income per patient day; whereas the operational model of adoption is associated with approximately$225 dollars decrease in net income per patient day. However, this effect diminishes with the adoption of each additional system thus demonstrating that the adoption path effects may only be relevant in the short-term

Glucose Metabolism through Pentose Phosphate Pathway: Effects on the Development of Congenital Heart Defects

Several studies have shown that genes related to cardiac muscle and function thrive in low glucose concentrations, whereas cells over actively replicate and do not reach full maturation in high glucose concentrations. Data suggests that blocking the pentose phosphate pathway induces cardiac maturation. The pentose phosphate pathway is responsible for generating ribose sugars that contribute to making nucleotides and NADP+/NADPH. Prolonged activation of the pentose phosphate pathway leads to excess nucleotide synthesis resulting in immature cardiomyocytes leading to congenital heart defects. This paper discussed how the pentose phosphate pathway is involved in the inhibition of fetal cardiomyocytes in high glucose conditions

Pictorial composition and plant forms

A correlation exists between design elements and the plant world; for example, the natural structure or the linear growth pattern may be visually interpreted as pure line which carries the viewer's eye from the tip of a leaf to the stem; it may change direction or bring attention to another area thus offering variety by setting up visual rhythms within a composition. The same may be stated with the other design elements, color, volume, and space. These elements may be called characteristics or growth patterns by which each plant establishes its own identity. The composition or view sought in presenting a plant consists of all these elements working together to achieve a visually stimulating variety. These natural relationships are retained in my works much as they appear because I feel they are interesting and offer many visual possibilities. I, therefore, am attempting to achieve a work that is more than just a botanical representation or illustration. All of the works in the exhibit are in several media: oil on canvas, water color, pencil, pastel, and colored ink. Various types of plants were used with design emphasis on their natural structure. The variety of angles or views allowed for many possibilities of composition. Some of the works place more emphasis on linear elements, while others emphasize volume, space, and color. Thus, the use of plants offered a means of exploring the various design elements three dimensionally on the flat picture plane

Identification of bacterial determinants of tuberculosis infection and treatment outcomes: a phenogenomic analysis of clinical strains.

BACKGROUND: Bacterial diversity could contribute to the diversity of tuberculosis infection and treatment outcomes observed clinically, but the biological basis of this association is poorly understood. The aim of this study was to identify associations between phenogenomic variation in Mycobacterium tuberculosis and tuberculosis clinical features. METHODS: We developed a high-throughput platform to define phenotype-genotype relationships in M tuberculosis clinical isolates, which we tested on a set of 158 drug-sensitive M tuberculosis strains sampled from a large tuberculosis clinical study in Ho Chi Minh City, Viet Nam. We tagged the strains with unique genetic barcodes in multiplicate, allowing us to pool the strains for in-vitro competitive fitness assays across 16 host-relevant antibiotic and metabolic conditions. Relative fitness was quantified by deep sequencing, enumerating output barcode read counts relative to input normalised values. We performed a genome-wide association study to identify phylogenetically linked and monogenic mutations associated with the in-vitro fitness phenotypes. These genetic determinants were further associated with relevant clinical outcomes (cavitary disease and treatment failure) by calculating odds ratios (ORs) with binomial logistic regressions. We also assessed the population-level transmission of strains associated with cavitary disease and treatment failure using terminal branch length analysis of the phylogenetic data. FINDINGS: M tuberculosis clinical strains had diverse growth characteristics in host-like metabolic and drug conditions. These fitness phenotypes were highly heritable, and we identified monogenic and phylogenetically linked variants associated with the fitness phenotypes. These data enabled us to define two genetic features that were associated with clinical outcomes. First, mutations in Rv1339, a phosphodiesterase, which were associated with slow growth in glycerol, were further associated with treatment failure (OR 5·34, 95% CI 1·21-23·58, p=0·027). Second, we identified a phenotypically distinct slow-growing subclade of lineage 1 strains (L1.1.1.1) that was associated with cavitary disease (OR 2·49, 1·11-5·59, p=0·027) and treatment failure (OR 4·76, 1·53-14·78, p=0·0069), and which had shorter terminal branch lengths on the phylogenetic tree, suggesting increased transmission. INTERPRETATION: Slow growth under various antibiotic and metabolic conditions served as in-vitro intermediate phenotypes underlying the association between M tuberculosis monogenic and phylogenetically linked mutations and outcomes such as cavitary disease, treatment failure, and transmission potential. These data suggest that M tuberculosis growth regulation is an adaptive advantage for bacterial success in human populations, at least in some circumstances. These data further suggest markers for the underlying bacterial processes that contribute to these clinical outcomes. FUNDING: National Health and Medical Research Council/A∗STAR, National Institutes of Allergy and Infectious Diseases, National Institute of Child Health and Human Development, and the Wellcome Trust Fellowship in Public Health and Tropical Medicine

High-throughput phenogenotyping of Mycobacteria tuberculosis clinical strains reveals bacterial determinants of treatment outcomes.

BACKGROUND: Combatting the tuberculosis (TB) epidemic caused by Mycobacterium tuberculosis ( Mtb ) necessitates a better understanding of the factors contributing to patient clinical outcomes and transmission. While host and environmental factors have been evaluated, the impact of Mtb genetic background and phenotypic diversity is underexplored. Previous work has made associations between Mtb genetic lineages and some clinical and epidemiological features, but the bacterial traits underlying these connections are largely unknown. METHODS: We developed a high-throughput functional genomics platform for defining genotype-phenotype relationships across a panel of Mtb clinical isolates. These phenotypic fitness profiles function as intermediate traits which can be linked to Mtb genetic variants and associated with clinical and epidemiological outcomes. We applied this approach to a collection of 158 Mtb strains from a study of Mtb transmission in Ho Chi Minh City, Vietnam. Mtb strains were genetically tagged in multiplicate, which allowed us to pool the strains and assess in vitro competitive fitness using deep sequencing across a set of 14 host-relevant antibiotic and metabolic conditions. Phylogenetic and monogenic associations with these intermediate traits were identified and then associated with clinical outcomes. FINDINGS: Mtb clinical strains have a broad range of growth and drug response dynamics that can be clustered by their phylogenetic relationships. We identified novel monogenic associations with Mtb fitness in various metabolic and antibiotic conditions. Among these, we find that mutations in Rv1339 , a phosphodiesterase, which were identified through their association with slow growth in glycerol, are further associated with treatment failure. We also identify a previously uncharacterized subclade of Lineage 1 strains (L1.1.1.1) that is phenotypically distinguished by slow growth under most antibiotic and metabolic stress conditions in vitro . This clade is associated with cavitary disease, treatment failure, and demonstrates increased transmission potential. INTERPRETATION: High-throughput phenogenotyping of Mtb clinical strains enabled bacterial intermediate trait identification that can provide a mechanistic link between Mtb genetic variation and patient clinical outcomes. Mtb strains associated with cavitary disease, treatment failure, and transmission potential display intermediate phenotypes distinguished by slow growth under various antibiotic and metabolic conditions. These data suggest that Mtb growth regulation is an adaptive advantage for host bacterial success in human populations, in at least some circumstances. These data further suggest markers for the underlying bacterial processes that govern these clinical outcomes. FUNDING: National Institutes of Allergy and Infectious Diseases: P01 AI132130 (SS, SMF); P01 AI143575 (XW, SMF); U19 AI142793 (QL, SMF); 5T32AI132120-03 (SS); 5T32AI132120-04 (SS); 5T32AI049928-17 (SS) Wellcome Trust Fellowship in Public Health and Tropical Medicine: 097124/Z/11/Z (NTTT) National Health and Medical Research Council (NHMRC)/A*STAR joint call: APP1056689 (SJD) The funding sources had no involvement in study methodology, data collection, analysis, and interpretation nor in the writing or submission of the manuscript. RESEARCH IN CONTEXT: Evidence before this study: We used different combinations of the words mycobacterium tuberculosis, tuberculosis, clinical strains, intermediate phenotypes, genetic barcoding, phenogenomics, cavitary disease, treatment failure, and transmission to search the PubMed database for all studies published up until January 20 th , 2022. We only considered English language publications, which biases our search. Previous work linking Mtb determinants to clinical or epidemiological data has made associations between bacterial lineage, or less frequently, genetic polymorphisms to in vitro or in vivo models of pathogenesis, transmission, and clinical outcomes such as cavitary disease, treatment failure, delayed culture conversion, and severity. Many of these studies focus on the global pandemic Lineage 2 and Lineage 4 Mtb strains due in part to a deletion in a polyketide synthase implicated in host-pathogen interactions. There are a number of Mtb GWAS studies that have led to novel genetic determinants of in vitro drug resistance and tolerance. Previous Mtb GWAS analyses with clinical outcomes did not experimentally test any predicted phenotypes of the clinical strains. Published laboratory-based studies of Mtb clinical strains involve relatively small numbers of strains, do not identify the genetic basis of relevant phenotypes, or link findings to the corresponding clinical outcomes. There are two recent studies of other pathogens that describe phenogenomic analyses. One study of 331 M. abscessus clinical strains performed one-by-one phenotyping to identify bacterial features associated with clearance of infection and another details a competition experiment utilizing three barcoded Plasmodium falciparum clinical isolates to assay antimalarial fitness and resistance. Added value of this study: We developed a functional genomics platform to perform high-throughput phenotyping of Mtb clinical strains. We then used these phenotypes as intermediate traits to identify novel bacterial genetic features associated with clinical outcomes. We leveraged this platform with a sample of 158 Mtb clinical strains from a cross sectional study of Mtb transmission in Ho Chi Minh City, Vietnam. To enable high-throughput phenotyping of large numbers of Mtb clinical isolates, we applied a DNA barcoding approach that has not been previously utilized for the high-throughput analysis of Mtb clinical strains. This approach allowed us to perform pooled competitive fitness assays, tracking strain fitness using deep sequencing. We measured the replicative fitness of the clinical strains in multiplicate under 14 metabolic and antibiotic stress condition. To our knowledge, this is the largest phenotypic screen of Mtb clinical isolates to date. We performed bacterial GWAS to delineate the Mtb genetic variants associated with each fitness phenotype, identifying monogenic associations with several conditions. We then defined Mtb phenotypic and genetic features associated with clinical outcomes. We find that a subclade of Mtb strains, defined by variants largely involved in fatty acid metabolic pathways, share a universal slow growth phenotype that is associated with cavitary disease, treatment failure and increased transmission potential in Vietnam. We also find that mutations in Rv1339 , a poorly characterized phosphodiesterase, also associate with slow growth in vitro and with treatment failure in patients. Implications of all the available evidence: Phenogenomic profiling demonstrates that Mtb strains exhibit distinct growth characteristics under metabolic and antibiotic stress conditions. These fitness profiles can serve as intermediate traits for GWAS and association with clinical outcomes. Intermediate phenotyping allows us to examine potential processes by which bacterial strain differences contribute to clinical outcomes. Our study identifies clinical strains with slow growth phenotypes under in vitro models of antibiotic and host-like metabolic conditions that are associated with adverse clinical outcomes. It is possible that the bacterial intermediate phenotypes we identified are directly related to the mechanisms of these outcomes, or they may serve as markers for the causal yet unidentified bacterial determinants. Via the intermediate phenotyping, we also discovered a surprising diversity in Mtb responses to the new anti-mycobacterial drugs that target central metabolic processes, which will be important in considering roll-out of these new agents. Our study and others that have identified Mtb determinants of TB clinical and epidemiological phenotypes should inform efforts to improve diagnostics and drug regimen design