The Relationship between Investment Opportunity, Dividend Policy and Firm Value in Companies Listed in TSE: Evidence from IRAN

The purpose of this study is to examine of relationship between investment opportunity and dividend policy and firm value. The studied group included companies listed in TSE during 2009-2013. Using systematic elimination method, 88 firms (or 440 firm-years) were selected as samples. The methodology of this study is practical descriptive correlation. The required data are collected by library method; Excel software is used to calculate data from companies. To test the hypotheses, Eviews software and panel data method are used. Findings indicate a positive significant relationship between investment opportunities and dividend policy as well as investment opportunities and firm value

The relationship between corporate governance mechanisms and profit smoothing

Cilj je ovoga rada ispitati neke mehanizme korporativnog upravljanja zadržanom dobiti. U stvari, proučava se odnos između institucijskih investitora, vanjskih članova uprave, internog audita i zadržane dobiti. Formulirana je hipoteza za svaku od ovih opcija te je testiran njihov učinak na zadržanu dobit. Hipoteze su testirane modelom regresije. Među sudionicima su kompanije članovi Tehran Stock Exchange (teheranske Burze) u razdoblju 2000. ÷ 2008. Ispitivani uzorak uključuje 138 kompanija. Odnosi su ispitivani primjenom ekonometrijskog modela i uobičajenih metoda najmanjih kvadrata (OLS). Primijenjena je postupna regresija i Spearmanov koeficijent korelacije kod određivanja prioriteta. Rezultati pokazuju značajno pozitivan odnos u postotku onih koji su vanjski članovi uprave i signifikantno suprotan odnos između internog audita i običnih dionica dioničara te zadržane dobiti. Spearmanov korelacijski test je pokazao da vanjski direktori uprave imaju najveći utjecaj na zadržanu dobit.The present study aims to investigate some mechanisms of corporate governance on profit smoothing. In fact, it studies the relationship between institutional investors, outside board members, internal audit and profit smoothing. A hypothesis was formulated for each of these options and their effect on profit smoothing was tested. A regression model was used to test the hypotheses. Participants include companies listed on Tehran Stock Exchange during 2000 ÷ 2008. Studied sample includes 138 companies. Relations were tested using an econometric model and ordinary least squares (OLS). The study used stepwise regression and Spearman correlation coefficient to prioritize. The results indicate a significantly positive relationship between non-executive board percentage and significantly inverse relationship between internal audit and common shareholders’ equity and profit smoothing. Spearman correlation test revealed that outside directors have the highest effect on profit smoothing

Determination of dietary requirements of Acipenser persicus from larval stage to market

Growth experiments were conducted in a random statistical design to determine the dietary requirements of Persian sturgeon, Acipenser persicus. In this study the effects of various dietary protein and energy and their optimum P/E proportion in diets was estimated on growth and carcass composition in A. persicus in the fingerling and grow out stage in three different phases. In the first phase, 16 semi pure diets with 4 protein levels (35, 40, 45 and 50%), each with four energy levels (18.5, 19.8, 21.1 and 22.4 megjoules/kg diet) and P/E proportion of 15.63 to 26.4 mg protein KJ-1 were formulated and fed to 960 A. persicus fingerlings, with a mean weight of 10.26±0.11 for 112 days. Three replicates were used for each experiment group. In the second phase, 432 A. persicus juveniles with a mean weight of 112.25±1.187 g were fed 12 semi purified diets with 3 protein levels (40, 45 and 50%) each with 4 energy levels (18.5, 19.8, 21.1 and 22.4 megjoules/kg diet) and P/E proportion of 18.9 to 26.4 mg protein KJ-1 for a period of 101 days using three replicates for each treatment. In the third phase, 384 juvenile A. persicus with a mean weight of 803.26±3.5 g were fed 16 diets for a period of 140 days. Two replicates were used for each treatment group. At the end of the experiment 30% of the fish population was randomly selected for carcass analysis to determine protein, lipid, moisture and ash content. Hepatosomatic index of the fish specimens was also determined. In the fingerling stage the fish fed 45 and 50% protein with 22.4 megjoules/kg diet energy exhibited the best growth indices [final body weight, percentage body weight increase (BWI%) and specific growth rate (SGR)] (P<0.05). A diet containing 40% protein and 22.4 megjoules/kg diet energy with P/E ratio of 17.86 mg protein KJ-1 is the recommended diet for A. persicus in this stage. In the first phase higher growth rates were observed in fish fed diets containing 40% protein as compared to those fed diets containing 45 and 50% protein. Increasing energy levels to 21.1 and 22.4 megjoules/kg diet significantly increased (P<0.05) growth indices. Highest values for growth indices belonged to fish fed diets containing 40% protein, 22.4 megjoules/kg diet energy and P/E ratios of 17.86 mg protein KJ-1. Final weight, BWI% and SGR in fish fed diets containing 40% protein were higher as compared to fish fed diets containing 35, 45 and 50% protein. Increasing energy levels to 22.4 megjoules/kg diet resulted in significant increase in growth indices as well as P/E ratios. Highest growth indices were recorded with diets containing 40% protein, 22.4 megjoules/kg diet energy and a P/E ratio of 17.86 mg protein KJ-1. Results obtained indicate that A. persicus showed better growth rates after acclimation to formulated diets, and therefore can be considered a suitable species for culture in captivity. On the basis of growth rate and carcass composition diet containing 40% protein, 20.1 to 25.9% lipid with a P/E ratio of 17.86 mg protein KJ-1 prepared from good quality fishmeal, fish oil and vegetable oil (sunflower or soybean oil) is recommended for feeding A. persicus in the fingerling and grow out stages

The association of diameter and depth of internal jugular and subclavian veins with hand dominancy

Background: The central veins’ catheterization, required in critically ill patients, is more successful in larger veins. Some researchers hypothesized that hand preference might be associated with larger ipsi/contra central veins. Objective: To determine the diameter and depth of internal jugular and subclavian veins on both sides and its association with left- or right-handedness. Methods: This cross-sectional study, was conducted on patients referring for elective breast or thyroid check-up to Shahid Faghihi Hospital ultrasound unit, Shiraz, Iran, from September 2014 to May 2015. Inclusion criteria consisted of adult normotensive patients with American Society of Anesthesiology (ASA) class I without underlying diseases. The patients’ demographics were recorded and the diameter and depth of the internal jugular and subclavian veins were measured by ultrasound. The results of measurements were compared between patients’ hand preference by SPSS version 19, using paired-samples t-test and independent-samples t-test. Results: Of 65 patients, 86% were women and 19 were left-handed (29%) with the only significant difference between the right and left subclavian diameter in right-handed individuals (p=0.007) and no significant difference between the left and right internal jugular vein diameter and depth and subclavian vein depth between the left- and right-handed patients. The subclavian diameter of the right and left side was also not different in left-handed patients. Conclusion: The right or left central veins are not superior to each other with respect to diameter and depth in right- or left-handed patient

Diabetes, Metabolic Syndrome and Obesity: Targets and Therapy Clinical and behavioral factors associated with management outcome in hospitalized patients with diabetic foot ulcer

Objectives: Diabetic foot ulcer (DFU) has been linked to high mortality and morbidity in diabetic patients. In spite of the increasing prevalence of diabetes and its complications, this issue has not been adequately studied in Iran. Materials and methods: In this cross-sectional study we attempt to describe the prevalence of diabetic foot amputation in patients admitted to our training hospitals in Urmia, Iran, and also to determine the associated demographic, behavioral, and clinical factors. Results: Of 94 patients with DFU, 34 (32%) had amputation. Those with amputation were significantly older and were also less educated than those without amputation, had longer duration of diabetes (hence were more likely to suffer from complications), and had high-risk wounds plus a poor glycemic control. On logistic regression analysis two variables were associated with amputation: Wagner classification $3 and HbA 1c . On a receiver operating characteristics curve, the HbA 1c cutoff point of 9.7% significantly discriminated to predict increasing risk of amputation. Conclusion: Both glycemic control and promoting the knowledge of patients and health care professionals in order to diagnose DFU in the early stages and to prevent development of the high-grade wounds would be a significant step in reducing the burden of DFU and its effect on quality of life in Iran

Do increased drilling speed and depth affect bone viability at implant site?

Background: The aim of this study was to assess the effect of increasing the drilling speed and depth during implant site preparation on bone viability. Materials and Methods: In this prospective cohort study, participants were divided into four groups based on the speed and depth of drilling at the first molar site in the mandible. Participants underwent drilling at Group 1: 1000 rpm and 10 mm depth, Group 2: 1500 rpm and 10 mm, Group 3: 1000 rpm and 13 mm, and Group 4: 1500 rpm and 13 mm. Obtained specimens were assessed histologically to the qualitative measurement of bone viability, and the percentage of vital bone were evaluated by histomorphometric analysis. ANOVA was used to compare age and the mean percentage of vital bone and Tukey's test as post hoc was applied for pairwise comparison of groups. Results: A total of 100 participants were studied in four groups (25 subjects in each group). Histological evaluation revealed a low level of bone viability maintenance in all groups. Histomorphometric analysis showed the mean percentage of vital bone was 9.5 ± 3.91% in Group 1, 8.86 ± 3.84% in Group 2, 8.32 ± 3.80% in Group 3, and 4.27 ± 3.22% in Group 4. A significant difference was noted in the mean percentage of bone viability among the four groups (P = 0.001). Conclusion: It seems that increasing the drilling speed or depth during dental implant site preparation does not affect the mean percentage of cell viability, while the increase in both depth and speed may decrease the percentage of viable cells