The Unanticipated Effects of Insider Trading Regulation

Using a sample of 2,827 firms from 21 countries we examine whether insider trading laws achieve the primary objective for which they are introduced – protecting uninformed investors from private information-based trading. We find that when control is concentrated in the hands of a large shareholder, insider trading regulation is less effective in reducing private information-based trading if investor protection is poor. We suggest that controlling shareholders who are banned from trading may resort to covert expropriation of firm resources, creating more information asymmetry and thereby encouraging private information trading by informed outsiders. Consistent with this, we find evidence that when the rights of controlling shareholders are high, insider trading restrictions are associated with greater earnings opacity.http://deepblue.lib.umich.edu/bitstream/2027.42/40081/3/wp695.pd

The Unanticipated Effects of Insider Trading Regulation

Using a sample of 2,827 firms from 21 countries we examine whether insider trading laws achieve the primary objective for which they are introduced – protecting uninformed investors from private information-based trading. We find that when control is concentrated in the hands of a large shareholder, insider trading regulation is less effective in reducing private information-based trading if investor protection is poor. We suggest that controlling shareholders who are banned from trading may resort to covert expropriation of firm resources, creating more information asymmetry and thereby encouraging private information trading by informed outsiders. Consistent with this, we find evidence that when the rights of controlling shareholders are high, insider trading restrictions are associated with greater earnings opacity.Insider Trading Regulation, Ownership, Private Information Trading, Earnings Opacity

Knowledge Management: Leveraging Competitive Advantage & Organizational Competence – a Study of Indian Organisations in General

Today the concept of knowledge management is studied as a “competitive advantage of the firm”and human resource as “knowledge capital”. Knowledge Management (KM) has made its entryin both public and private sectors of India. There has been advent of information technology inthe last decade and the emergence of knowledge worker and the knowledge economy. There isfocus on effectiveness of the organization through internal collaborations and process ofknowledge Management and knowledge management systems. Information and communicationtechnologies and human capital congruence is playing an important part in leveragingknowledge for individual's personal growth and organizations competitive advantage whichhelps in economic development. The paper aims to review the latest knowledge managementdevelopments and practices of KMS

Computationally effective search and optimization procedure using coarse to fine approximations

This paper presents a concept of combining genetic algorithms (GAs) with an approximate evaluation technique to achieve a computationally effective search and optimization procedure. The major objective of this work is to enable the use of GAs on computationally expensive problems, while retaining their basic robust search capabilities. Starting with a coarse approximation model of the problems, GAs successively use finer models, thereby allowing the proposed algorithm to find the optimal or a near-optimal solution of computationally expensive problems faster. A general methodology is proposed for combining any approximating technique with GA. The proposed methodology is also tested in conjunction with one particular approximating technique, namely the artificial neural network, on a B-spline curve fitting problem successfully. Savings in the exact function evaluation up to 32% are achieved. The computational advantage demonstrated here should encourage the use of the proposed approach to more complex and computationally demanding real-world problems

Effect of pinching and spacing on growth, flowering and yield of African marigold (Tagetes erecta L.) under semi-arid conditions of Haryana

The present study was conducted at experimental orchard of Department of Horticulture, CCS Haryana Agricultural University, Hisar (Haryana), India with a view to optimize pinching time and spacing in African marigold for achieving better growth, flowering and yield. Design of the experiment was factorial Randomized Block Design with three replications. Experiment comprises of two levels of pinching (no pinching & pinching at 28 DAT i.e. Days After Transplanting) and three levels of spacing (40 x 40 cm, 40 x 30 cm & 30 x 30 cm) in all possible combinations. Maximum number of branches/plant (12.11), plant spread (63.59 cm), fresh weight of plant (358.79 g), number of buds/plant, duration of flowering (53.95 days), number of flowers/plant (54.54), stalk length and flower yield/plant (403.68 g) and flower yield/hectare (33.33 t) were significantly recorded in plants pinched at 28 DAT at 5% level of significance, whereas, maximum plant height (73.52 cm), flower diameter (6.38 cm), fresh weight of flower (8.93 g) was obtained in un-pinched plants. In case of spacing, maximum plant spread (64.01 cm), primary branches/plant (11.42), fresh weight of plant (370.20 g), number of buds/plant, number of flowers/plant (51.43), duration of flowering (53.98 days), flower diameter (6.42 cm), fresh weight of flower (9.03 g), flower yield/plant (460.42 g) was recorded at 40 x 40 cm, whereas, maximum plant height (71.76 cm), stalk length, flower yield/hectare (36.34 t) was observed with 30 x 30 cm. Results revealed that plants pinched at 28 DAT with widest spacing (40 x 40 cm) were found best for better growth, flowering and yield of African marigold

Effects of antenatal corticosteroids administration on fetoplacental circulation in preterm pregnancies with intrauterine growth restriction and its correlation with perinatal outcome

Background: Antenatal corticosteroid administration in preterm pregnancies is recommended to promote fetal lung maturation. Studies have reported temporary reduction in fetal heart rate, breathing and movements following maternal corticosteroid administration. Authors studied effect of maternal corticosteroid administration on fetoplacental circulation in preterm pregnancies with IUGR and its correlation with perinatal outcome.Methods: Observational study included 77 preterm singleton pregnant women with IUGR. Color doppler day 0 (before betamethasone) of umbilical artery of 77 cases done. All received two doses of 12 mg of betamethasone intramuscularly 24 hours apart. Umbilical artery doppler on day 2 (24 to 48 hours of 1st dose of betamethasone) and day 4 (72 to 96 hours of 1st dose of betamethasone) done. Pulsatility index (PI) of umbilical artery on doppler and Neonatal details of all women noted.Results: On day 2 doppler, 56 (73%) women (Group A) showed decrease in umbilical artery PI while 21 (27%) women (Group B) did not show decrease in umbilical artery PI. Mean umbilical artery PI of 77 cases on day 0 and day 2 were 1.73±0.73 and 1.54±0.76 respectively (p<0.001). Mean Umbilical artery PI values of undelivered 60 cases on day 0, day 2 and day 4 were 1.55±0.61, 1.33±0.55 and 1.47±0.63 respectively (p<0.001). Group B neonates had poorer Apgar scores, higher neonatal complication, longer hospital stay, lesser umbilical pH at birth and higher perinatal mortality rate than Group A neonates.Conclusions: Significant reduction in mean umbilical artery PI observed on day 2 following betamethasone administration (p<0.001), which was maintained till 4th day after 1st dose of betamethasone (p<0.05). Women who showed improvement in umbilical artery pulsatility index following betamethasone administration had a better perinatal outcome as compared to women who did not

Role of Negative Pressure Wound Therapy in Healing of Diabetic Foot Ulcers

Introduction: Foot disorders such as ulceration, infection and gangrene are the most common, complex and costly sequelae of diabetes mellitus.[1-3] Even for the most superficial wounds, treatment is often difficult with poor healing responses and high rates of complications. The purpose of this study is to compare the rate of ulcer healing with the negative pressure dressing technique to conventional moist dressings in the treatment of diabetic foot ulcers. Materials and Methods: The study was conducted on 30 patients, which were divided into two groups. One group received negative pressure dressing while other group received conventional saline moistened gauze dressing. Results were compared for rate of wound healing. Results: There was a statistically significant difference in the rate of appearance of granulation tissue between the two groups; with granulation tissue appearing earlier in the study group. The study group promised a better outcome (80% complete responders) as compared to the control group (60% complete responders). Conclusions: Negative pressure wound therapy has a definitive role in healing of diabetic foot ulcers