Risk-Adjusted Performance of Real Estate Stocks: Evidence From Developing Markets

This paper examines the performance of real estate stocks listed in seven developing markets in East Asia between 1992 and 2002. Using panel regressions, the goal is to identify determinants of the risk-adjusted returns of real estate securities traded in these markets. The empirical evidence suggests that size, book-to-market value, capital structure and market diversification have significant influence on the performance of real estate securities. Asset structure and development exposure, however, do not appear to have any significant effect on the returns behavior, while dividend yield has limited influence. As expected, interest rates and market condition have significant impact on the returns of real estate stocks. The Asian Financial Crisis also has an adverse impact on stocks? performance.

Development and validation of a NanoString BASE47 bladder cancer gene classifier

Background Recent molecular characterization of urothelial cancer (UC) has suggested potential pathways in which to direct treatment, leading to a host of targeted therapies in development for UC. In parallel, gene expression profiling has demonstrated that high-grade UC is a heterogeneous disease. Prognostic basal-like and luminal-like subtypes have been identified and an accurate transcriptome BASE47 classifier has been developed. However, these phenotypes cannot be broadly investigated due to the lack of a clinically viable diagnostic assay. We sought to develop and evaluate a diagnostic classifier of UC subtype with the goal of accurate classification from clinically available specimens. Methods Tumor samples from 52 patients with high-grade UC were profiled for BASE47 genes concurrently by RNAseq as well as NanoString. After design and technical validation of a BASE47 NanoString probeset, results from the RNAseq and NanoString were used to translate diagnostic criteria to the Nanostring platform. Evaluation of repeatability and accuracy was performed to derive a final Nanostring based classifier. Diagnostic classification resulting from the NanoString BASE47 classifier was validated on an independent dataset (n = 30). The training and validation datasets accurately classified 87% and 93% of samples, respectively. Results Here we have derived a NanoString-platform BASE47 classifier that accurately predicts basal-like and luminal-like subtypes in high grade urothelial cancer. We have further validated our new NanoString BASE47 classifier on an independent dataset and confirmed high accuracy when compared with our original Transcriptome BASE47 classifier. Conclusions The NanoString BASE47 classifier provides a faster turnaround time, a lower cost per sample to process, and maintains the accuracy of the original subtype classifier for better clinical implementation

Ractopamine-induced changes in the proteome of post-mortem beef longissimus lumborum muscle

Ractopamine is a beta-adrenergic agonist that is approved for use in beef cattle, pigs and turkeys as a repartitioning agent to increase lean muscle deposition and decrease lipogenesis. Although the effects of dietary ractopamine on the proteome profile of post-mortem pork muscles have been examined, its influence on beef muscle proteome has not been studied. Therefore, the objective of this study was to examine the effect of ractopamine on the proteome profile of post-mortem beef longissimus lumborum (LL) muscle. LL muscle samples were obtained from the carcasses of six (n = 6) steers fed ractopamine (RAC; 400 mg ractopamine hydrochloride for 28 days) and six (n = 6) steers fed no ractopamine (CON). The muscle proteome was analysed using two-dimensional gel electrophoresis and tandem mass spectrometry. Five differentially abundant spots were identified, and all the spots were over-abundant in RAC. The identified proteins were involved in muscle structure development (F-actin-capping protein subunit beta-2; PDZ and LIM domain protein-3), chaperone activity (heat shock protein beta-1), oxygen transport (myoglobin), and glycolysis (L-lactate dehydrogenase A chain). These results suggested that dietary ractopamine could influence the abundance of enzymes associated with muscle development and muscle fibre type shift in beef LL muscle.Keywords: growth promotants, meat quality, proteomic

Fast-ion redistribution and loss due to edge perturbations in the ASDEX Upgrade, DIII-D and KSTAR tokamaks

The impact of edge localized modes (ELMs) and externally applied resonant and non-resonant magnetic perturbations (MPs) on fast-ion confinement/transport have been investigated in the ASDEX Upgrade (AUG), DIII-D and KSTAR tokamaks. Two phases with respect to the ELM cycle can be clearly distinguished in ELM-induced fast-ion losses. Inter-ELM losses are characterized by a coherent modulation of the plasma density around the separatrix while intra-ELM losses appear as well-defined bursts. In high collisionality plasmas with mitigated ELMs, externally applied MPs have little effect on kinetic profiles, including fast-ions, while a strong impact on kinetic profiles is observed in low-collisionality, low q 95 plasmas with resonant and non-resonant MPs. In low-collisionality H-mode plasmas, the large fast-ion filaments observed during ELMs are replaced by a loss of fast-ions with a broad-band frequency and an amplitude of up to an order of magnitude higher than the neutral beam injection prompt loss signal without MPs. A clear synergy in the overall fast-ion transport is observed between MPs and neoclassical tearing modes. Measured fast-ion losses are typically on banana orbits that explore the entire pedestal/scrape-off layer. The fast-ion response to externally applied MPs presented here may be of general interest for the community to better understand the MP field penetration and overall plasma response.Ministerio de Economía y Empresa ((RYC-2011-09152 y ENE2012-31087)Marie Curie (Grant PCIG11-GA-2012-321455)US Department of Energy (DE-FC02-04ER54698, SC-G903402, DE-FG02-04ER54761, DE-AC02-09CH11466 and DE-FG02- 08ER54984)NRF Korea contract 2009-0082012MEST under the KSTAR projec

Emergence of Anti-Cancer Drug Resistance: Exploring the Importance of the Microenvironmental Niche via a Spatial Model

Practically, all chemotherapeutic agents lead to drug resistance. Clinically, it is a challenge to determine whether resistance arises prior to, or as a result of, cancer therapy. Further, a number of different intracellular and microenvironmental factors have been correlated with the emergence of drug resistance. With the goal of better understanding drug resistance and its connection with the tumor microenvironment, we have developed a hybrid discrete-continuous mathematical model. In this model, cancer cells described through a particle-spring approach respond to dynamically changing oxygen and DNA damaging drug concentrations described through partial differential equations. We thoroughly explored the behavior of our self-calibrated model under the following common conditions: a fixed layout of the vasculature, an identical initial configuration of cancer cells, the same mechanism of drug action, and one mechanism of cellular response to the drug. We considered one set of simulations in which drug resistance existed prior to the start of treatment, and another set in which drug resistance is acquired in response to treatment. This allows us to compare how both kinds of resistance influence the spatial and temporal dynamics of the developing tumor, and its clonal diversity. We show that both pre-existing and acquired resistance can give rise to three biologically distinct parameter regimes: successful tumor eradication, reduced effectiveness of drug during the course of treatment (resistance), and complete treatment failure

Functional diversity of chemokines and chemokine receptors in response to viral infection of the central nervous system.

Encounters with neurotropic viruses result in varied outcomes ranging from encephalitis, paralytic poliomyelitis or other serious consequences to relatively benign infection. One of the principal factors that control the outcome of infection is the localized tissue response and subsequent immune response directed against the invading toxic agent. It is the role of the immune system to contain and control the spread of virus infection in the central nervous system (CNS), and paradoxically, this response may also be pathologic. Chemokines are potent proinflammatory molecules whose expression within virally infected tissues is often associated with protection and/or pathology which correlates with migration and accumulation of immune cells. Indeed, studies with a neurotropic murine coronavirus, mouse hepatitis virus (MHV), have provided important insight into the functional roles of chemokines and chemokine receptors in participating in various aspects of host defense as well as disease development within the CNS. This chapter will highlight recent discoveries that have provided insight into the diverse biologic roles of chemokines and their receptors in coordinating immune responses following viral infection of the CNS

Anomalous scaling of a passive scalar in the presence of strong anisotropy

Field theoretic renormalization group and the operator product expansion are applied to a model of a passive scalar field, advected by the Gaussian strongly anisotropic velocity field. Inertial-range anomalous scaling behavior is established, and explicit asymptotic expressions for the n-th order structure functions of scalar field are obtained; they are represented by superpositions of power laws with nonuniversal (dependent on the anisotropy parameters) anomalous exponents. In the limit of vanishing anisotropy, the exponents are associated with tensor composite operators built of the scalar gradients, and exhibit a kind of hierarchy related to the degree of anisotropy: the less is the rank, the less is the dimension and, consequently, the more important is the contribution to the inertial-range behavior. The leading terms of the even (odd) structure functions are given by the scalar (vector) operators. For the finite anisotropy, the exponents cannot be associated with individual operators (which are essentially ``mixed'' in renormalization), but the aforementioned hierarchy survives for all the cases studied. The second-order structure function is studied in more detail using the renormalization group and zero-mode techniques.Comment: REVTEX file with EPS figure

Ground state and elementary excitations of single and binary Bose-Einstein condensates of trapped dipolar gases

We analyze the ground-state properties and the excitation spectrum of Bose-Einstein condensates of trapped dipolar particles. First, we consider the case of a single-component polarized dipolar gas. For this case we discuss the influence of the trapping geometry on the stability of the condensate as well as the effects of the dipole-dipole interaction on the excitation spectrum. We discuss also the ground state and excitations of a gas composed of two antiparallel dipolar components.Comment: 12 pages, 9 eps figures, final versio