Simulation discounted cash flow valuation for internet companies

Discounted cash flow (DCF) is the most accepted approach for company valuation. It is well grounded in theory and practice. However, the DCF approach, which is commonly used for traditional companies valuation, presents a number of serious weaknesses within the Internet companies’ context. One of these weaknesses is tackling the uncertainty that characterize future cash flows of these companies. Specifically DCF assumes that future cash flow streams are highly predictable. The effects of uncertainty are therefore tackled implicitly by discounting the expected value of the cash flows at a risk-adjusted interest rate. However, under uncertainty, future cash flows of these companies can no longer be characterized by a single value but rather by a range of values of its possible consequences. This paper looks at the way in which uncertainty can be incorporated into the traditional DCF approach so that the latter, which is otherwise conceptually sound, becomes relevant. This is done by recognizing that the DCF input variables are uncertain and will have a probability distribution pertaining to each of them. Thus by utilizing a probability-based valuation model (using Monte Carlo Simulation) it is possible to incorporate uncertainty into the analysis and address the shortcomings of the current model. The MC simulation assigns a range of values in order to cope with uncertainty underlies each key cash flow variable. The process leads to a probability distribution of the valuation criterion used, giving investors a quantitative measure of risk involved

Tioconazole and Chloroquine Act Synergistically to Combat Doxorubicin-Induced Toxicity via Inactivation of PI3K/AKT/mTOR Signaling Mediated ROS-Dependent Apoptosis and Autophagic Flux Inhibition in MCF-7 Breast Cancer Cells.

Cancer is a complex devastating disease with enormous treatment challenges, including chemo- and radiotherapeutic resistance. Combination therapy demonstrated a promising strategy to target hard-to-treat cancers and sensitize cancer cells to conventional anti-cancer drugs such as doxorubicin. This study aimed to establish molecular profiling and therapeutic efficacy assessment of chloroquine and/or tioconazole (TIC) combination with doxorubicin (DOX) as anew combination model in MCF-7 breast cancer. The drugs are tested against apoptotic/autophagic pathways and related redox status. Molecular docking revealed that chloroquine (CQ) and TIC could be potential PI3K and ATG4B pathway inhibitors. Combination therapy significantly inhibited cancer cell viability, PI3K/AkT/mTOR pathway, and tumor-supporting autophagic flux, however, induced apoptotic pathways and altered nuclear genotoxic feature. Our data revealed that the combination cocktail therapy markedly inhibited tumor proliferation marker (KI-67) and cell growth, along with the accumulation of autophagosomes and elevation of LC3-II and p62 levels indicated autophagic flux blockage and increased apoptosis. Additionally, CQ and/or TIC combination therapy with DOX exerts its activity on the redox balance of cancer cells mediated ROS-dependent apoptosis induction achieved by GPX3 suppression. Besides, Autophagy inhibition causes moderately upregulation in ATGs 5,7 redundant proteins strengthened combinations induced apoptosis, whereas inhibition of PI3K/AKT/mTOR pathway with Beclin-1 upregulation leading to cytodestructive autophagy with overcome drug resistance effectively in curing cancer. Notably, the tumor growth inhibition and various antioxidant effects were observed in vivo. These results suggest CQ and/or TIC combination with DOX could act as effective cocktail therapy targeting autophagy and PI3K/AKT/mTOR pathways in MCF-7 breast cancer cells and hence, sensitizes cancer cells to doxorubicin treatment and combat its toxicity

Non-immune fetal hydrops: etiology and outcome according to gestational age at diagnosis.

OBJECTIVE: Fetal hydrops is associated with increased perinatal morbidity and mortality. The etiology and outcome of fetal hydrops may differ according to the gestational age at diagnosis. The aim of this study was to evaluate the cause, evolution and outcome of non-immune fetal hydrops (NIFH), according to the gestational age at diagnosis. METHODS: This was a retrospective cohort study of all singleton pregnancies complicated by NIFH, at the Fetal Medicine Unit at St George's University Hospital, London, UK, between 2000 and 2018. All fetuses had detailed anomaly and cardiac ultrasound scans, karyotyping and infection screening. Prenatal diagnostic and therapeutic intervention, gestational age at diagnosis and delivery, as well as pregnancy outcome, were recorded. Regression analysis was used to test for potential association between possible risk factors and perinatal mortality. RESULTS: We included 273 fetuses with NIFH. The etiology of the condition varied significantly in the three trimesters. Excluding 30 women who declined invasive testing, the cause of NIFH was defined as unknown in 62 of the remaining 243 cases (25.5%). Chromosomal aneuploidy was the most common cause of NIFH in the first trimester. It continued to be a significant etiologic factor in the second trimester, along with congenital infection. In the third trimester, the most common etiology was cardiovascular abnormality. Among the 152 (55.7%) women continuing the pregnancy, 48 (31.6%) underwent fetal intervention, including the insertion of pleuroamniotic shunts, fetal blood transfusion and thoracentesis. Fetal intervention was associated significantly with lower perinatal mortality (odds ratio (OR), 0.30 (95% CI, 0.14-0.61); P  0.05). CONCLUSIONS: An earlier gestational age at diagnosis of NIFH was associated with an increased risk of aneuploidy and worse pregnancy outcome, including a higher risk of perinatal loss. Fetal therapy was associated significantly with lower perinatal mortality. © 2020 The Authors. Ultrasound in Obstetrics & Gynecology published by John Wiley & Sons Ltd on behalf of the International Society of Ultrasound in Obstetrics and Gynecology

Scaling up proven public health interventions through a locally owned and sustained leadership development programme in rural Upper Egypt

<p>Abstract</p> <p>Introduction</p> <p>In 2002, the Egypt Ministry of Health and Population faced the challenge of improving access to and quality of services in rural Upper Egypt in the face of low morale among health workers and managers.</p> <p>From 1992 to 2000, the Ministry, with donor support, had succeeded in reducing the nationwide maternal mortality rate by 52%. Nevertheless, a gap remained between urban and rural areas.</p> <p>Case description</p> <p>In 2002, the Ministry, with funding from the United States Agency for International Development and assistance from Management Sciences for Health, introduced a Leadership Development Programme (LDP) in Aswan Governorate. The programme aimed to improve health services in three districts by increasing managers' ability to create high performing teams and lead them to achieve results.</p> <p>The programme introduced leadership and management practices and a methodology for identifying and addressing service delivery challenges. Ten teams of health workers participated.</p> <p>Discussion and evaluation</p> <p>In 2003, after participation in the LDP, the districts of Aswan, Daraw and Kom Ombo increased the number of new family planning visits by 36%, 68% and 20%, respectively. The number of prenatal and postpartum visits also rose.</p> <p>After the United States funding ended, local doctors and nurses scaled up the programme to 184 health care facilities (training more than 1000 health workers). From 2005 to 2007, the Leadership Development Programme participants in Aswan Governorate focused on reducing the maternal mortality rate as their annual goal. They reduced it from 85.0 per 100,000 live births to 35.5 per 100,000. The reduction in maternal mortality rate was much greater than in similar governorates in Egypt. Managers and teams across Aswan demonstrated their ability to scale up effective public health interventions though their increased commitment and ownership of service challenges.</p> <p>Conclusions</p> <p>When teams learn and apply empowering leadership and management practices, they can transform the way they work together and develop their own solutions to complex public health challenges. Committed health teams can use local resources to scale up effective public health interventions.</p

Readiness of HIF Using the Single Pass RF Driver

Readiness for a concerted push to power production was the underlying theme from the inaugural HIF Workshop in 1976 through the review of ICF programs by DOE’s Energy Research and Advisory Board in 1979. Using John Lawson’s 1987 paper “Whither Heavy Ion Fusion?” [1] as a foil, this paper discusses the continuing vitality of the argument for HIF’s readiness against the backdrop that this vision is not in evidence today, having been occluded by political policies causing diversion of the HIF community into peripheral science that, although excellent, is in fact not required to complete the development of a HIF energy source..

A method for segregation of speech signals

International audienc

Characterization of virgin olive oils obtained from minor Tunisian varieties for their valorization

Several compositional parameters (fatty acids, tocopherols, polar phenols and volatiles) in virgin olive oils from varieties located at the center of Tunisia, namely Baldi, Chemchali, Neb Jmel, Tounsi and Besbessi from Gafsa and Chemchali and Sehli cultivated in Sidi Bouzid, were studied. To the best of our knowledge, this is the first study focusing on the chemical composition of virgin olive oils (VOO) from Sidi Bouzid. Significant differences were found between varieties from Sidi Bouzid and Gafsa in monounsaturated saturated fatty acid levels, some volatile compounds and γ-tocopherol amounts. Notably, Tounsi and Baldi VOOs showed the highest six carbon atoms alcohol contents, whereas Neb Jmel VOO revealed the highest aldehyde six carbon atoms content. Fatty acid composition, as well as tocopherol content, showed differences among different VOO. Principal component analysis and hierarchical component analysis on polar phenols, fatty acids, tocopherols and volatiles data&nbsp;evidenced a good discrimination among oils from the different investigated varieties

Multi-Zone Shell Model for Turbulent Wall Bounded Flows

We suggested a \emph{Multi-Zone Shell} (MZS) model for wall-bounded flows accounting for the space inhomogeneity in a "piecewise approximation", in which cross-section area of the flow, $S$, is subdivided into "$j$-zones". The area of the first zone, responsible for the core of the flow, $S_1\simeq S/2$, and areas of the next $j$-zones, $S_j$, decrease towards the wall like $S_j\propto 2^{-j}$. In each $j$-zone the statistics of turbulence is assumed to be space homogeneous and is described by the set of "shell velocities" $u_{nj}(t)$ for turbulent fluctuations of the scale $\propto 2^{-n}$. The MZS-model includes a new set of complex variables, $V_j(t)$, $j=1,2,... \infty$, describing the amplitudes of the near wall coherent structures of the scale $s_j\sim 2^{-j}$ and responsible for the mean velocity profile. Suggested MZS-equations of motion for $u_{nj}(t)$ and $V_j(t)$ preserve the actual conservations laws (energy, mechanical and angular momenta), respect the existing symmetries (including Galilean and scale invariance) and account for the type of the non-linearity in the Navier-Stokes equation, dimensional reasoning, etc. The MZS-model qualitatively describes important characteristics of the wall bounded turbulence, e.g., evolution of the mean velocity profile with increasing Reynolds number, \RE, from the laminar profile towards the universal logarithmic profile near the flat-plane boundary layer as \RE\to \infty.Comment: 27 pages, 17 figs, included, PRE, submitte

A bibliometric study of industry 4.0 in construction industry Using Oesterreich and Teuteberg (2016) as a key marker

This study examines how Industry 4.0 has been discussed in the construction industry and construction management (CM) research over the past four years using Oesterreich and Teuteberg’s (2016) article as a key marker. The techniques adopted in this paper were Bibliometric analysis. Citation, co-citation, and co-occurrence analyses were applied to the articles published between 2016-2019 in the WoS database. This study concluded that most CM research themes had been impacted by Industry 4.0. Also, CM scholars, journal editors, and decision-makers have expressed significant interest in Industry 4.0. Finally, this research has focused on research themes that have been less examined by scholars and have identified areas for future research on how CM literature may benefit from Industry 4.0. Twenty-one main research themes were identified, a co-occurrence network was constructed and examined. The results indicate that there are a sufficient number of references to Industry 4.0 in the themes of management, smart factory, and digitisation. On the other hand, other themes have received less scholarly attention, such as performance, simulation, and supply chain management. Those less explored themes possibly require additional studies

Mass Hierarchies and the Seesaw Neutrino Mixing

We give a general analysis of neutrino mixing in the seesaw mechanism with three flavors. Assuming that the Dirac and u-quark mass matrices are similar, we establish simple relations between the neutrino parameters and individual Majorana masses. They are shown to depend rather strongly on the physical neutrino mixing angles. We calculate explicitly the implied Majorana mass hierarchies for parameter sets corresponding to different solutions to the solar neutrino problem.Comment: 11 pages, no figures, replaced with final version. Minor corrections and one typo corrected. Added one referenc