Intangible Assets Valuation in the Hospitality Industry

In publicly traded firms, there is usually a discrepancy between the market value and the book value of the firm, often due to the valuation of intangible assets. Understanding this discrepancy is import- ant for investors, especially in the service industries like hospitality, where there is considerable industry disruption and consolidation. In this study we examine the effect of four intangible asset investments—research and development (R&D), training, advertising, and pension—on the market premium of restaurant firms. Using a longitudinal sample of 1,421 firm-year observations, the results of our analyses show that R&D, training, advertising, and pension are all important valuation con- structs in the hospitality industry, and their effects on market premium vary by restaurant type. This study fills the gap in the current literature by providing a quantitative method to value intangible assets in the hospitality industry. The practical implications of this study will provide managers in the hospitality industry with helpful insights for strategic decision making, specifically regarding R&D, advertising, and employee compensation

COVID-19 causes record decline in global CO2 emissions

The considerable cessation of human activities during the COVID-19 pandemic has affected global energy use and CO2 emissions. Here we show the unprecedented decrease in global fossil CO2 emissions from January to April 2020 was of 7.8% (938 Mt CO2 with a +6.8% of 2-{\sigma} uncertainty) when compared with the period last year. In addition other emerging estimates of COVID impacts based on monthly energy supply or estimated parameters, this study contributes to another step that constructed the near-real-time daily CO2 emission inventories based on activity from power generation (for 29 countries), industry (for 73 countries), road transportation (for 406 cities), aviation and maritime transportation and commercial and residential sectors emissions (for 206 countries). The estimates distinguished the decline of CO2 due to COVID-19 from the daily, weekly and seasonal variations as well as the holiday events. The COVID-related decreases in CO2 emissions in road transportation (340.4 Mt CO2, -15.5%), power (292.5 Mt CO2, -6.4% compared to 2019), industry (136.2 Mt CO2, -4.4%), aviation (92.8 Mt CO2, -28.9%), residential (43.4 Mt CO2, -2.7%), and international shipping (35.9Mt CO2, -15%). Regionally, decreases in China were the largest and earliest (234.5 Mt CO2,-6.9%), followed by Europe (EU-27 & UK) (138.3 Mt CO2, -12.0%) and the U.S. (162.4 Mt CO2, -9.5%). The declines of CO2 are consistent with regional nitrogen oxides concentrations observed by satellites and ground-based networks, but the calculated signal of emissions decreases (about 1Gt CO2) will have little impacts (less than 0.13ppm by April 30, 2020) on the overserved global CO2 concertation. However, with observed fast CO2 recovery in China and partial re-opening globally, our findings suggest the longer-term effects on CO2 emissions are unknown and should be carefully monitored using multiple measures

Chk1 and 14-3-3 proteins inhibit atypical E2Fs to prevent a permanent cell cycle arrest

The atypical E2Fs, E2F7 and E2F8, act as potent transcriptional repressors of DNA replication genes providing them with the ability to induce a permanent S-phase arrest and suppress tumorigenesis. Surprisingly in human cancer, transcript levels of atypical E2Fs are frequently elevated in proliferating cancer cells, suggesting that the tumor suppressor functions of atypical E2Fs might be inhibited through unknown post-translational mechanisms. Here, we show that atypical E2Fs can be directly phosphorylated by checkpoint kinase 1 (Chk1) to prevent a permanent cell cycle arrest. We found that 14-3-3 protein isoforms interact with both E2Fs in a Chk1-dependent manner. Strikingly, Chk1 phosphorylation and 14-3-3-binding did not relocate or degrade atypical E2Fs, but instead, 14-3-3 is recruited to E2F7/8 target gene promoters to possibly interfere with transcription. We observed that high levels of 14-3-3 strongly correlate with upregulated transcription of atypical E2F target genes in human cancer. Thus, we reveal that Chk1 and 14-3-3 proteins cooperate to inactivate the transcriptional repressor functions of atypical E2Fs. This mechanism might be of particular importance to cancer cells, since they are exposed frequently to DNA-damaging therapeutic reagents

GRIK3 rs490647 is a Common Genetic Variant between Personality and Subjective Well-being in Chinese Han Population

Personality and subjective well-being (SWB) have been suggested to be strongly related in previous studies. This study was intended to confirm the relationship between personality and SWB and tried to seek out the genetic variants which underlie both personality and SWB. The subjects were 890 participants from Chinese Han population. We evaluated their personality using the Big Five Inventory (BFI) and used the Satisfaction With Life Scale (SWLS) to reflect their SWB. Five single nucleotide polymorphisms (SNPs) were selected from the literature (rs1426371, rs2164273, rs322931, rs3756290, rs490647) and genotyped for genetic association study. We found negative correlations between neuroticism and SWB. On the contrary, extraversion and agreeableness were positively associated with SWB. Three SNPs (rs2164273, rs3756290, rs490647) out of the five were found to connect with personality (extraversion, neuroticism, conscientiousness and openness to experience) and rs490647 variants of GRIK3 was also associated with SWB. Individuals carrying G allele at this site were predisposed to have lower risk to be neuroticism and greater chance to be extraverted, open and satisfied with their life. In summary, our study revealed that rs490647 might be a good candidate genetic variant for personality and SWB in Chinese Han population

Next-Generation Sequencing of Cerebrospinal Fluid for the Diagnosis of Neurocysticercosis

Background: Neurocysticercosis (NCC) is the most common helminthic infection of the central nervous system (CNS). The diagnosis of NCC is sometimes challenging due to its heterogenous clinical manifestations and the variable sensitivity and specificity of neuroimaging and serological tests.Methods: Next-generation sequencing (NGS) of cerebrospinal fluid (CSF) was used to detect pathogens in patients with clinically suspected CNS infections. A series of patients diagnosed with NCC is reviewed here.Results: Using NGS of CSF, four patients were diagnosed with NCC. The reads corresponding to Taenia solium ranged from 478 to 117,362, with genomic coverage of 0.0564–11.15%. Reads corresponding to T. solium were not found in non-template controls and far exceeded those of the background microorganisms in patients with NCC, facilitating the interpretation of the NGS results.Conclusions: This case series demonstrates that NGS of CSF is promising in the diagnosis of NCC in difficult to diagnose cases. Larger studies are needed in the future

Near-real-time monitoring of global CO₂ emissions reveals the effects of the COVID-19 pandemic

The COVID-19 pandemic is impacting human activities, and in turn energy use and carbon dioxide (CO₂) emissions. Here we present daily estimates of country-level CO2 emissions for different sectors based on near-real-time activity data. The key result is an abrupt 8.8% decrease in global CO₂ emissions (−1551 Mt CO₂) in the first half of 2020 compared to the same period in 2019. The magnitude of this decrease is larger than during previous economic downturns or World War II. The timing of emissions decreases corresponds to lockdown measures in each country. By July 1st, the pandemic’s effects on global emissions diminished as lockdown restrictions relaxed and some economic activities restarted, especially in China and several European countries, but substantial differences persist between countries, with continuing emission declines in the U.S. where coronavirus cases are still increasing substantially