Are serial acquirers good targets for acquisition? An accounting perspective

This study uses the positivist agency theory to examine if serial acquirers with consistently negative cumulative abnormal returns over their past acquisitions are more likely to become targets themselves. The study is based on the assumption that firms that make repeated value reducing acquisitions and depress their stock price are more attractive targets than firms that make good returns to their shareholders through acquisitions, and whose share prices increase correspondingly. Our findings show that serial acquirers that are considered bad bidders are more likely to become targets themselves compared to those that are considered good bidders. While this is the case in the USA and Europe, we find limited evidence to show that the same disciplinary tool is applicable in other parts of the world

A fourth HI 21-cm absorption system in the sight-line of MG J0414+0534: a record for intervening absorbers

We report the detection of a strong HI 21-cm absorption system at z=0.5344, as well as a candidate system at z=0.3389, in the sight-line towards the z=2.64 quasar MG J0414+0534. This, in addition to the absorption at the host redshift and the other two intervening absorbers, takes the total to four (possibly five). The previous maximum number of 21-cm absorbers detected along a single sight-line is two and so we suspect that this number of gas-rich absorbers is in some way related to the very red colour of the background source. Despite this, no molecular gas (through OH absorption) has yet been detected at any of the 21-cm redshifts, although, from the population of 21-cm absorbers as a whole, there is evidence for a weak correlation between the atomic line strength and the optical--near-infrared colour. In either case, the fact that so many gas-rich galaxies (likely to be damped Lyman-alpha absorption systems) have been found along a single sight-line towards a highly obscured source may have far reaching implications for the population of faint galaxies not detected in optical surveys, a possibility which could be addressed through future wide-field absorption line surveys with the Square Kilometre Array.Comment: Accepted by ApJ Letter

Comparative genomic hybridization for the diagnosis of melanoma

Despite advancements in protocols, a subset of melanocytic lesions continues to pose diagnostic challenges. This is particularly true in the pediatric population where certain congenital nevi mimic melanoma. Recently, comparative genomic hybridization (CGH) has been utilized to support diagnoses of melanocytic lesions based on DNA copy number changes. Because distinct differences in copy number changes have been shown to occur in malignant melanoma and benign nevi, CGH can be a useful adjunct when diagnosis based on histology alone is indeterminate. The authors discuss the benefits of using CGH to aid in the diagnosis of melanocytic lesions that are difficult to characterize as malignant or benign based on clinical and histologic features alone. This paper presents a brief clinical report and review of the literature. A 13-year-old Caucasian male presented to an academic tertiary care medical center after a shave biopsy unexpectedly revealed malignant melanoma with positive deep margins. Following complete excisional biopsy, the diagnosis of malignant melanoma with depth of 0.92 mm was confirmed, both by the home institution's pathologist and by consultant dermatopathologists at two separate academic tertiary medical centers. Sentinel lymph node biopsy revealed a small focus of metastatic melanoma, this lead to a left-sided modified radical neck dissection. All nodes removed were negative for disease, and surgical and postsurgical care was uncomplicated. Before proceeding with interferon therapy, CGH was performed on the tissue from the primary lesion. Other than a slight amplification of chromosome 16p, no other aberrations were detected favoring a benign lesion. Ultimately, the diagnosis was amended to compound melanocytic nevus of the nose with benign nevus cell rest in the sentinel node. While histopathologic evaluation is the current gold standard for the diagnosis of melanoma, there are many cases where it is inaccurate. The use of CGH in the evaluation of histologically equivocal lesions may allow certain patients to avoid invasive procedures and associated morbidities. The authors propose that, in these select diagnostically challenging cases, tissue analyses by CGH may be beneficial before proceeding to more invasive procedures such as sentinel node biopsy and complete lymphadenectomy

A search for 21 cm HI absorption in AT20G compact radio galaxies

We present results from a search for 21 cm associated HI absorption in a sample of 29 radio sources selected from the Australia Telescope 20 GHz survey. Observations were conducted using the Australia Telescope Compact Array Broadband Backend, with which we can simultaneously look for 21 cm absorption in a redshift range of 0.04 < z < 0.08, with a velocity resolution of 7 km/s . In preparation for future large-scale H I absorption surveys we test a spectral-line finding method based on Bayesian inference. We use this to assign significance to our detections and to determine the best-fitting number of spectral-line components. We find that the automated spectral-line search is limited by residuals in the continuum, both from the band-pass calibration and spectral-ripple subtraction, at spectral-line widths of \Deltav_FWHM > 103 km/s . Using this technique we detect two new absorbers and a third, previously known, yielding a 10 per cent detection rate. Of the detections, the spectral-line profiles are consistent with the theory that we are seeing different orientations of the absorbing gas, in both the host galaxy and circumnuclear disc, with respect to our line-of-sight to the source. In order to spatially resolve the spectral-line components in the two new detections, and so verify this conclusion, we require further high-resolution 21 cm observations (~0.01 arcsec) using very long baseline interferometry.Comment: 16 pages, 8 figures and 5 tables; accepted for publication in MNRAS (version 2 based on proof corrections

A study on serum calcium and phosphate in dialysis patients via a mixed effects latent markov model with two outcomes.

In pres

Longitudinal assessment of utilities in patients with migraine: an analysis of erenumab randomized controlled trials

BACKGROUND: Cost-effectiveness analyses in patients with migraine require estimates of patients’ utility values and how these relate to monthly migraine days (MMDs). This analysis examined four different modelling approaches to assess utility values as a function of MMDs. METHODS: Disease-specific patient-reported outcomes from three erenumab clinical studies (two in episodic migraine [NCT02456740 and NCT02483585] and one in chronic migraine [NCT02066415]) were mapped to the 5-dimension EuroQol questionnaire (EQ-5D) as a function of the Migraine-Specific Quality of Life Questionnaire (MSQ) and the Headache Impact Test (HIT-6™) using published algorithms. The mapped utility values were used to estimate generic, preference-based utility values suitable for use in economic models. Four models were assessed to explain utility values as a function of MMDs: a linear mixed effects model with restricted maximum likelihood (REML), a fractional response model with logit link, a fractional response model with probit link and a beta regression model. RESULTS: All models tested showed very similar fittings. Root mean squared errors were similar in the four models assessed (0.115, 0.114, 0.114 and 0.114, for the linear mixed effect model with REML, fractional response model with logit link, fractional response model with probit link and beta regression model respectively), when mapped from MSQ. Mean absolute errors for the four models tested were also similar when mapped from MSQ (0.085, 0.086, 0.085 and 0.085) and HIT-6 and (0.087, 0.088, 0.088 and 0.089) for the linear mixed effect model with REML, fractional response model with logit link, fractional response model with probit link and beta regression model, respectively. CONCLUSIONS: This analysis describes the assessment of longitudinal approaches in modelling utility values and the four models proposed fitted the observed data well. Mapped utility values for patients treated with erenumab were generally higher than those for individuals treated with placebo with equivalent number of MMDs. Linking patient utility values to MMDs allows utility estimates for different levels of MMD to be predicted, for use in economic evaluations of preventive therapies. TRIAL REGISTRATION: ClinicalTrials.gov numbers of the trials used in this study: STRIVE, NCT02456740 (registered May 14, 2015), ARISE, NCT02483585 (registered June 12, 2015) and NCT02066415 (registered Feb 17, 2014)

Deep belief network based audio classification for construction sites monitoring

In this paper, we propose a Deep Belief Network (DBN) based approach for the classification of audio signals to improve work activity identification and remote surveillance of construction projects. The aim of the work is to obtain an accurate and flexible tool for consistently executing and managing the unmanned monitoring of construction sites by using distributed acoustic sensors. In this paper, ten classes of multiple construction equipment and tools, frequently and broadly used in construction sites, have been collected and examined to conduct and validate the proposed approach. The input provided to the DBN consists in the concatenation of several statistics evaluated by a set of spectral features, like MFCCs and mel-scaled spectrogram. The proposed architecture, along with the preprocessing and the feature extraction steps, has been described in details while the effectiveness of the proposed idea has been demonstrated by some numerical results, evaluated by using real-world recordings. The final overall accuracy on the test set is up to 98% and is a significantly improved performance compared to other state-of-the-are approaches. A practical and real-time application of the presented method has been also proposed in order to apply the classification scheme to sound data recorded in different environmental scenarios