Greater Mutual Fund Transparency in India

India has been one of the darlings among emerging market economies over the past decade. It has experienced dizzying economic growth that has lifted great numbers of Indians out of poverty and changed the economic outlook of much of its populace. For the first time, many Indians have excess funds to save or invest, and the Indian mutual fund industry has enjoyed an explosion in popularity as a result of this economic boom, particularly among first time mutual fund investors. One of the most important mechanisms for investor protection in any capital market is the provision of information to investors by market participants. The Securities and Exchange Board of India (SEBI), India\u27s mutual fund regulator, has developed an information disclosure regime that, for the most part, has evolved along with the industry\u27s explosive growth. However, SEBI\u27s requirements have failed to keep pace with the industry\u27s torrid growth in certain key areas. Changes to this regime are particularly important given the market turmoil that has occurred in India recently, the likes of which many first time Indian mutual fund investors have likely never have experienced before. To that end, this Note proposes substantial modifications to the Indian mutual fund regulatory regime\u27s information disclosure requirements in certain key areas in order to maximize protections for Indian mutual fund investors, as well as to assuage their collective concerns

Development, factor structure and application of the Dog Obesity Risk and Appetite (DORA) questionnaire.

Background. Dogs are compelling models in which to study obesity since the condition shares many characteristics between humans and dogs. Differences in eating behaviour are recognised to contribute to obesity susceptibility in other species but this has not been systematically studied in dogs. Aim. To develop and validate an owner-reported measure of canine eating behaviour and owner or dog related factors which can alter the development of obesity. Further, to then test variation in food-motivation in dogs and its association with obesity and owner management. Methods. Owner interviews, a literature review and existing human appetite scales were used to identify relevant topics and generate items for the questionnaire. Following a pilot phase, a 75 item online questionnaire was distributed via social media. Responses from 302 dog/owner dyads were analysed and factor structure and descriptive statistics calculated. Results were compared with descriptions of dog behaviour and management from a subset of respondents during semi-structured interviews. The optimum questions were disseminated as a 34 item final questionnaire completed by 213 owners, with a subset of respondents repeating the questionnaire 3 weeks later to assess test-retest reliability. Results. Analysis of responses to the final questionnaire relating to 213 dog/owner dyads showed a coherent factor structure and good test-retest reliability. There were three dog factors (food responsiveness and satiety, lack of selectivity, Interest in food), four owner factors (owner motivation to control dog weight, owner intervention to control dog weight, restriction of human food, exercise taken) and two dog health factors (signs of gastrointestinal disease, current poor health). Eating behaviour differed between individuals and between breed groups. High scores on dog factors (high food-motivation) and low scores on owner factors (less rigorous control of diet/exercise) were associated with obesity. Owners of more highly food-motivated dogs exerted more control over their dogs' food intake than those of less food-motivated dogs. Conclusions. The DORA questionnaire is a reliable and informative owner-reported measure of canine eating behaviour and health and management factors which can be associated with obesity development. The tool will be applicable to study of the canine obesity model and to clinical veterinarians. Results revealed eating behaviour to be similarly associated with obesity as exercise and owners giving titbits

Monomerization of Cytosolic Mature Smac Attenuates Interaction with IAPs and Potentiation of Caspase Activation

The four residues at the amino-terminus of mature Smac/DIABLO are an IAP binding motif (IBM). Upon exit from mitochondria, mature Smac interacts with inhibitor of apoptosis proteins (IAPs), abrogating caspase inhibition. We used the ubiquitin fusion model to express mature Smac in the cytosol. Transiently expressed mature Smac56-239 (called Smac56) and Smac60-239 (called Smac60), which lacks the IBM, interacted with X-linked inhibitor of apoptosis protein (XIAP). However, stable expression produced wild type Smac56 that failed to homodimerize, interact with XIAP, and potentiate caspase activation. Cytosolic Smac60 retained these functions. Cytosolic Smac56 apparently becomes posttranslationally modified at the dimer interface region, which obliterated the epitope for a monoclonal antibody. Cytosolic Smacδ, which has the IBM but lacks amino acids 62–105, homodimerized and weakly interacted with XIAP, but failed to potentiate apoptosis. These findings suggest that the IBM of Smac is a recognition point for a posttranslational modification(s) that blocks homodimerization and IAP interaction, and that amino acids 62–105 are required for the proapoptotic function of Smac

How Critical Realism Clarifies Validity Issues in Information Systems Theory-Testing Research

Validity is an enduring theme in the Information Systems (IS) domain. However, because much of that discussion draws, at least nominally, on an Empiricist orientation, formulating issues of validity in a way that is pertinent to a practice-oriented discipline has been difficult. This is particularly true for external validity, which refers to the applicability, or relevance, of research to phenomena in the broader environment of practice, but also for measurement, ecological, and internal validity, all of which are needed to establish rigor in human-centred practical research. We argue that Critical Realism presents a number of insights that profoundly clarify a discussion of validity in practice-oriented theory-testing research. We reformulate the notions of theory testing and research validity from the Critical Realist perspective and illustrate new insights gained using a discussion of a controlled experiment

Virtual models in online shopping: do they help or hinder customers?

Virtual experience and other technology-dependent methods of describing products online are frequently touted as the way of the future in e-commerce. However, despite the hyperbole, these claims have actually not been tested rigorously on systems used by major online retailers. This paper reports the results of an experiment that assesses user perceptions of the informativeness and ultimate usefulness of systems that use personalization and rich media to enhance the online product evaluation process. Our results challenge the commonly held view that the “high-tech” approach is, in its own right, beneficial to either the customer or the vendor. Key results are (i) the highest levels of informativeness about anticipated (future) experiences were achieved when no personalization systems were used; and (ii) the system that provided the most personalized support was perceived to be least informative about future experience, and least useful overall. Overall, our results indicate that although these systems can improve awareness of some important product attributes, with this enhanced awareness comes a reduced awareness of other product characteristics. At worst, these systems actually appear to make the customer less informed, and result in negative assessments of the retailer

The adoption of mobile commerce services by individuals: A Current State of the Literature

The lack of strong market growth in most Mobile Commerce markets indicates that improved functionality, affordability, and availability of mobile technology do not lead automatically to wide-spread adoption of these services. Therefore, developing an understanding of the factors that influence end-user (consumer) behaviour and acceptance of new mobile services is important at this early stage of the mobile evolution because consumer acceptance is a critical foundation for the continued expansion of the market for mobile services. In this paper we analyse and synthesise the existing literature which focuses on the factors that impact the adoption of mobile commerce services by individuals. We develop an innovative framework to guide this analysis and review 100 studies. Results show a clear imbalance in the existing literature and bias towards some types of adoption factors in favour of other equally important factors

The Kimberley assessment of depression of older Indigenous Australians: prevalence of depressive disorders, risk factors and validation of the KICA-dep scale

This study aimed to develop a culturally acceptable and valid scale to assess depressive symptoms in older Indigenous Australians, to determine the prevalence of depressive disorders in the older Kimberley community, and to investigate the sociodemographic, lifestyle and clinical factors associated with depression in this population. Methods Cross-sectional survey of adults aged 45 years or over from six remote Indigenous communities in the Kimberley and 30% of those living in Derby, Western Australia. The 11 linguistic and culturally sensitive items of the Kimberley Indigenous Cognitive Assessment of Depression (KICA-dep) scale were derived from the signs and symptoms required to establish the diagnosis of a depressive episode according to the DSM-IV-TR and ICD-10 criteria, and their frequency was rated on a 4-point scale ranging from ‘never’ to ‘all the time’ (range of scores: 0 to 33). The diagnosis of depressive disorder was established after a face-to-face assessment with a consultant psychiatrist. Other measures included sociodemographic and lifestyle factors, and clinical history. Results The study included 250 participants aged 46 to 89 years (mean±SD = 60.9±10.7), of whom 143 (57.2%) were women. The internal reliability of the KICA-dep was 0.88 and the cut-point 7/8 (non-case/case) was associated with 78% sensitivity and 82% specificity for the diagnosis of a depressive disorder. The point-prevalence of a depressive disorder in this population was 7.7%; 4.0% for men and 10.4% for women. Heart problems were associated with increased odds of depression (odds ratio = 3.3, 95% confidence interval = 1.2,8.8). Conclusions The KICA-dep has robust psychometric properties and can be used with confidence as a screening tool for depression among older Indigenous Australians. Depressive disorders are common in this population, possibly because of increased stressors and health morbidities