Preference for different relaxation techniques by COPD patients: comparison between six techniques.

BACKGROUND: A review of the effectiveness of relaxation techniques for chronic obstructive pulmonary disease patients has shown inconsistent results, but studies have varied in terms of technique and outcome measures. AIM: To determine patient preference for different relaxation techniques. METHODS: Chronic obstructive pulmonary disease patients were presented with six techniques via a DVD and asked to rate the techniques in terms of effectiveness, rank in order of likely use, and comment. RESULTS: Patients differed in the technique preferred and reason for that preference, but the most commonly preferred technique both for effectiveness and ease of use was "thinking of a nice place" followed by progressive relaxation and counting. Familiarity and ease of activity were commonly given reasons for preference. CONCLUSION: Rather than providing patients with a single technique that they might find difficult to implement, these results suggest that it would be better to give a choice. "Thinking of a nice place" is a popular but under-investigated technique

An examination of the performance of the trades and stock holdings of fund managers: Further evidence

C1 - Refereed Journal Articl

Top management turnover: An examination of portfolio holdings and fund performance

We examine the performance and portfolio characteristics of actively managed equity funds impacted by top management turnover. Utilizing a unique database of monthly portfolio holdings, our study finds that, post-replacement, previously poor performing funds experience improved returns. However, this improved performance is not attributable to superior stock selection skill. We also find these new managers decrease the fund's reliance on momentum strategies and decrease the portfolio's concentration, which then leads to a reduced tracking-error volatility. Prior to the replacement event, underperforming investment managers exhibit preferences for larger, growth-oriented stocks, as well as riding momentum strategies and increasing portfolio turnover

Keeping it private: financial reporting by large proprietary companies in Australia

© 2019 Accounting and Finance Association of Australia and New Zealand Since 2010, proprietary companies have had a choice of preparing three types of financial reports that vary in scope. We find that between 2010 and 2015, most proprietary companies in our random sample chose the lowest scope option, with very low quality financial reports. Few adopted the new option provided by AASB 1053 Application of Tiers of Australian Accounting Standards. The characteristics of the firms that adopted each type of report are consistent with the regulator's intention. Our findings should provide a better understanding of how accounting standards impact practice, and should assist regulators to reform private company financial reporting

The association between quarter length, forecast errors, and firms’ voluntary disclosures

Approximately 60 percent of adjacent fiscal quarters contain a different number of calendar days. In preliminary analyses, we find the change in quarter length is significantly associated with the changes in sales and earnings and that analysts condition on the prior quarter's results when making their forecasts. These results indicate that it is important for analysts to adjust for changes in quarter length when making forecasts. However, we find the quarterly change in days is positively associated with analysts’ sales and earnings forecasts errors, where forecast error equals the actual earnings minus the forecasted earnings. These results indicate that analysts systematically underestimate (overestimate) performance when quarter length increases (decreases). We find evidence indicating investors make similar errors as returns around earnings announcements are positively associated with the change in quarter length, but only when changes in firm performance is more sensitive to changes in quarter length. Corroborating these findings, managers are more (less) likely to discuss quarter length during conference calls when quarter length decreases (increases). These results are consistent with managers’ strategic disclosure incentives. In summary, our evidence suggests analysts and investors fail to fully take account of the quasi-mechanical effect that quarter length has on firm performance and managers strategically alter their voluntary disclosures to take advantage of these failures

Home or surgery based screening for chronic obstructive pulmonary disease (COPD)?

AIMS: To compare the effectiveness of opportunistic spirometric screening of patients attending a general practice surgery with screening on randomly selected home visits. METHOD: 100 patients aged 45+ attending the Honiton Surgery (surgery group) and 100 randomly selected patients visited at their homes (home group) were invited to perform spirometry and complete a symptom and medication questionnaire. Main outcome measures were successful completion of spirometry and questionnaire and an estimate of COPD prevalence. RESULTS: Surgery assessments were successful in 94/100 (95% C.I. 89% to 99%) cases. Eighteen percent of those visited at home refused the invitation to attend for spirometry; 33% (95% C.I. 24% to 42%) resulted in a successful assessment; there was no. reply when visiting 46% of cases and 3% of he visits were refused or terminated on the day.The mean age of the surgery group and home group was 63.7 years and 64.5 years respectively. The mean time per patient was 17 minutes in the surgery group and 1 hour 26 minutes in the home group.Twenty five (27%, 95% C.I. 18% to 36%) of those assessed in the surgery group and 10 (30%, 95% C.I. 14% to 46%) of the home group had an FEV(1) < 80% predicted. Of these, 14/25 (56%) and 4/10 (40%) were current or ex-smokers. Of these, eight and three respectively had cough, wheeze or breathlessness, giving an overall COPD prevalence of 11/127 (9%, 95% C.I. 0% to 19%). Three of these eleven (27%) had mild disease, 7/11 (64%) moderate and 1/11 (9%) severe. The mean age of the patients with COPD was 70.8 years. Four of the eleven (36%) patients with COPD already had a diagnosis recorded in their records (3 COPD, 1 asthma). Analysis of surgery attendance (any health care professional) of all patients aged 45 and above, indicated that over a one year period 79.1% (95% C.I. 78.2% to 80.0%) and over a two year period 89% (95% c.i. 88.3% to 89.7%) of the total practice population attended on at least one occasion. CONCLUSION: Opportunistic spirometric assessment of patients routinely attending surgery results in a high uptake; over a period of two years around 84% of the target population could be assessed. Home visiting may be used for reaching those not routinely attending the surgery.The article is available via Open Access. Click on the 'Additional link' above to access the full-text.Not permitte