Efficiency, scale economies and valuation effects : evidence from bank mergers in India

Original article can be found at : http://www.inderscience.com/ Copyright Inderscience PublishersThis paper examines two important issues related to bank mergers in India. First, we estimate potential economic gains of state owned banks if they undergo consolidation. Scale economies, returns to scale and profit efficiency of state owned banks during 1986 to 2003 are estimated based on stochastic frontier analysis. We find that many Indian banks exhibit potential cost savings from mergers provided they rationalize their branch networks although profit efficiency may not rise immediately. Second we measure the realized impact of bank mergers on shareholders’ wealth based on event study analysis. We find that in the case of forced mergers, shareholders of neither the bidder nor the target banks benefited. In the case of voluntary mergers, the bidder banks’ shareholders gained more than the target banks’ shareholders.Peer reviewe

An audit on the clinical and laboratory profile of patients with different variants of Guillain-Barre syndrome and effect of various treatment strategies on their recovery

Background: Guillain-Barre syndrome (GBS) is an immune-mediated disorder of the peripheral nervous system, causing muscle weakness, paralysis, and sensory deficits. Its treatment mainly involves supportive care, immunomodulatory therapies such as intravenous immunoglobulin (IVIg) and plasma exchange (PE), and rehabilitation. Several randomized controlled trials (RCTs) and meta-analyses have evaluated the efficacy and safety of apheresis in GBS, but the results have been conflicting and limited by methodological issues. Methods: This is a retrospective study with a sample of 30 patients carried out at neurology OPD of tertiary care centre in Pune, Maharashtra over a period of 32 months from July 2020 and February 2023. Patients were followed up for six months, and their outcomes were compared in terms of the improvement of clinical disability scores, the need for mechanical ventilation, and the time to recovery of walking ability and other functional outcomes. Results: Apheresis treatment significantly improved the clinical disability scores and NCV recovery of patients with GBS in comparison to IVIg and corticosteroids. Moreover, patients who received apheresis treatment showed a shorter time to recovery of walking ability and other functional outcomes than those who did not. Symptomatic differences were seen between patients with different subtypes of GBS, but there was no difference in the response to apheresis or IVIg between subtypes. Conclusions: Treatment with apheresis should be considered in patients not responding to conservative management. Earlier treatment with apheresis has shown to have good clinical and electrophysiological outcomes regardless of the GBS subtype

Mid-Infrared interferometry of dust around massive evolved stars

We report long-baseline interferometric measurements of circumstellar dust around massive evolved stars with the MIDI instrument on the Very Large Telescope Interferometer and provide spectrally dispersed visibilities in the 8-13 micron wavelength band. We also present diffraction-limited observations at 10.7 micron on the Keck Telescope with baselines up to 8.7 m which explore larger scale structure. We have resolved the dust shells around the late type WC stars WR 106 and WR 95, and the enigmatic NaSt1 (formerly WR 122), suspected to have recently evolved from a Luminous Blue Variable (LBV) stage. For AG Car, the protoypical LBV in our sample, we marginally resolve structure close to the star, distinct from the well-studied detached nebula. The dust shells around the two WC stars show fairly constant size in the 8-13 micron MIDI band, with gaussian half-widths of ~ 25 to 40 mas. The compact dust we detect around NaSt1 and AG Car favors recent or ongoing dust formation. Using the measured visibilities, we build spherically symmetric radiative transfer models of the WC dust shells which enable detailed comparison with existing SED-based models. Our results indicate that the inner radii of the shells are within a few tens of AU from the stars. In addition, our models favor grain size distributions with large (~ 1 micron) dust grains. This proximity of the inner dust to the hot central star emphasizes the difficulty faced by current theories in forming dust in the hostile environment around WR stars. Although we detect no direct evidence for binarity for these objects, dust production in a colliding-wind interface in a binary system is a feasible mechanism in WR systems under these conditions.Comment: 21 pages, 4 tables, 13 figures. Accepted for publication in the Astrophysical Journa

Comparison of Pittsburgh compound B and florbetapir in cross-sectional and longitudinal studies.

IntroductionQuantitative in vivo measurement of brain amyloid burden is important for both research and clinical purposes. However, the existence of multiple imaging tracers presents challenges to the interpretation of such measurements. This study presents a direct comparison of Pittsburgh compound B-based and florbetapir-based amyloid imaging in the same participants from two independent cohorts using a crossover design.MethodsPittsburgh compound B and florbetapir amyloid PET imaging data from three different cohorts were analyzed using previously established pipelines to obtain global amyloid burden measurements. These measurements were converted to the Centiloid scale to allow fair comparison between the two tracers. The mean and inter-individual variability of the two tracers were compared using multivariate linear models both cross-sectionally and longitudinally.ResultsGlobal amyloid burden measured using the two tracers were strongly correlated in both cohorts. However, higher variability was observed when florbetapir was used as the imaging tracer. The variability may be partially caused by white matter signal as partial volume correction reduces the variability and improves the correlations between the two tracers. Amyloid burden measured using both tracers was found to be in association with clinical and psychometric measurements. Longitudinal comparison of the two tracers was also performed in similar but separate cohorts whose baseline amyloid load was considered elevated (i.e., amyloid positive). No significant difference was detected in the average annualized rate of change measurements made with these two tracers.DiscussionAlthough the amyloid burden measurements were quite similar using these two tracers as expected, difference was observable even after conversion into the Centiloid scale. Further investigation is warranted to identify optimal strategies to harmonize amyloid imaging data acquired using different tracers

Rule based classifier for the analysis of gene-gene and gene-environment interactions in genetic association studies

<p>Abstract</p> <p>Background</p> <p>Several methods have been presented for the analysis of complex interactions between genetic polymorphisms and/or environmental factors. Despite the available methods, there is still a need for alternative methods, because no single method will perform well in all scenarios. The aim of this work was to evaluate the performance of three selected rule based classifier algorithms, RIPPER, RIDOR and PART, for the analysis of genetic association studies.</p> <p>Methods</p> <p>Overall, 42 datasets were simulated with three different case-control models, a varying number of subjects (300, 600), SNPs (500, 1500, 3000) and noise (5%, 10%, 20%). The algorithms were applied to each of the datasets with a set of algorithm-specific settings. Results were further investigated with respect to a) the Model, b) the Rules, and c) the Attribute level. Data analysis was performed using WEKA, SAS and PERL.</p> <p>Results</p> <p>The RIPPER algorithm discovered the true case-control model at least once in >33% of the datasets. The RIDOR and PART algorithm performed poorly for model detection. The RIPPER, RIDOR and PART algorithm discovered the true case-control rules in more than 83%, 83% and 44% of the datasets, respectively. All three algorithms were able to detect the attributes utilized in the respective case-control models in most datasets.</p> <p>Conclusions</p> <p>The current analyses substantiate the utility of rule based classifiers such as RIPPER, RIDOR and PART for the detection of gene-gene/gene-environment interactions in genetic association studies. These classifiers could provide a valuable new method, complementing existing approaches, in the analysis of genetic association studies. The methods provide an advantage in being able to handle both categorical and continuous variable types. Further, because the outputs of the analyses are easy to interpret, the rule based classifier approach could quickly generate testable hypotheses for additional evaluation. Since the algorithms are computationally inexpensive, they may serve as valuable tools for preselection of attributes to be used in more complex, computationally intensive approaches. Whether used in isolation or in conjunction with other tools, rule based classifiers are an important addition to the armamentarium of tools available for analyses of complex genetic association studies.</p

Assessing the carcinogenic potential of low-dose exposures to chemical mixtures in the environment: the challenge ahead.

Lifestyle factors are responsible for a considerable portion of cancer incidence worldwide, but credible estimates from the World Health Organization and the International Agency for Research on Cancer (IARC) suggest that the fraction of cancers attributable to toxic environmental exposures is between 7% and 19%. To explore the hypothesis that low-dose exposures to mixtures of chemicals in the environment may be combining to contribute to environmental carcinogenesis, we reviewed 11 hallmark phenotypes of cancer, multiple priority target sites for disruption in each area and prototypical chemical disruptors for all targets, this included dose-response characterizations, evidence of low-dose effects and cross-hallmark effects for all targets and chemicals. In total, 85 examples of chemicals were reviewed for actions on key pathways/mechanisms related to carcinogenesis. Only 15% (13/85) were found to have evidence of a dose-response threshold, whereas 59% (50/85) exerted low-dose effects. No dose-response information was found for the remaining 26% (22/85). Our analysis suggests that the cumulative effects of individual (non-carcinogenic) chemicals acting on different pathways, and a variety of related systems, organs, tissues and cells could plausibly conspire to produce carcinogenic synergies. Additional basic research on carcinogenesis and research focused on low-dose effects of chemical mixtures needs to be rigorously pursued before the merits of this hypothesis can be further advanced. However, the structure of the World Health Organization International Programme on Chemical Safety 'Mode of Action' framework should be revisited as it has inherent weaknesses that are not fully aligned with our current understanding of cancer biology

LSST: from Science Drivers to Reference Design and Anticipated Data Products

(Abridged) We describe here the most ambitious survey currently planned in the optical, the Large Synoptic Survey Telescope (LSST). A vast array of science will be enabled by a single wide-deep-fast sky survey, and LSST will have unique survey capability in the faint time domain. The LSST design is driven by four main science themes: probing dark energy and dark matter, taking an inventory of the Solar System, exploring the transient optical sky, and mapping the Milky Way. LSST will be a wide-field ground-based system sited at Cerro Pach\'{o}n in northern Chile. The telescope will have an 8.4 m (6.5 m effective) primary mirror, a 9.6 deg$^2$ field of view, and a 3.2 Gigapixel camera. The standard observing sequence will consist of pairs of 15-second exposures in a given field, with two such visits in each pointing in a given night. With these repeats, the LSST system is capable of imaging about 10,000 square degrees of sky in a single filter in three nights. The typical 5$\sigma$ point-source depth in a single visit in $r$ will be $\sim 24.5$ (AB). The project is in the construction phase and will begin regular survey operations by 2022. The survey area will be contained within 30,000 deg$^2$ with $\delta<+34.5^\circ$, and will be imaged multiple times in six bands, $ugrizy$, covering the wavelength range 320--1050 nm. About 90\% of the observing time will be devoted to a deep-wide-fast survey mode which will uniformly observe a 18,000 deg$^2$ region about 800 times (summed over all six bands) during the anticipated 10 years of operations, and yield a coadded map to $r\sim27.5$. The remaining 10\% of the observing time will be allocated to projects such as a Very Deep and Fast time domain survey. The goal is to make LSST data products, including a relational database of about 32 trillion observations of 40 billion objects, available to the public and scientists around the world.Comment: 57 pages, 32 color figures, version with high-resolution figures available from https://www.lsst.org/overvie

Presenilin 2 Is the Predominant γ-Secretase in Microglia and Modulates Cytokine Release

Presenilin 1 (PS1) and Presenilin 2 (PS2) are the enzymatic component of the γ-secretase complex that cleaves amyloid precursor protein (APP) to release amyloid beta (Aβ) peptide. PS deficiency in mice results in neuroinflammation and neurodegeneration in the absence of accumulated Aβ. We hypothesize that PS influences neuroinflammation through its γ-secretase action in CNS innate immune cells. We exposed primary murine microglia to a pharmacological γ-secretase inhibitor which resulted in exaggerated release of TNFα and IL-6 in response to lipopolysaccharide. To determine if this response was mediated by PS1, PS2 or both we used shRNA to knockdown each PS in a murine microglia cell line. Knockdown of PS1 did not lead to decreased γ-secretase activity while PS2 knockdown caused markedly decreased γ-secretase activity. Augmented proinflammatory cytokine release was observed after knockdown of PS2 but not PS1. Proinflammatory stimuli increased microglial PS2 gene transcription and protein in vitro. This is the first demonstration that PS2 regulates CNS innate immunity. Taken together, our findings suggest that PS2 is the predominant γ-secretase in microglia and modulates release of proinflammatory cytokines. We propose PS2 may participate in a negative feedback loop regulating inflammatory behavior in microglia