Wealth effects of convertible-bond and warrant-bond offerings: a meta-analysis

The literature on wealth effects associated with the announcements of convertible-bond and warrant-bond offerings is reviewed. The findings of 35 event studies, which include 84 sub-samples and 6310 announcements, are analysed using meta-analysis. We find a mean cumulative abnormal return of −1.14% for convertibles compared with −0.02% for warrant bonds, the significant difference confirming a relative advantage for warrant bonds. Abnormal returns for hybrid securities issued in the USA are significantly more negative than those issued in other countries. In addition, issuing hybrid securities to refund debt does not seem to be favoured by investors. Finally, several factors identified as important by theory or in prior research are not significant within our cross-study models, suggesting that more evidence is needed to confirm whether they are robust

Computer simulation of breast reduction surgery

Background: Plastic surgery of the breast, particularly breast reduction, is considered difficult. It can become a challenge for a less experienced surgeon to understand exactly what to do when facing a particular type of breast and how to avoid unsatisfactory results. Methods: The goal of this study was to create a computer model of the breast that provides a basis for the simulation of breast surgery, particularly breast reduction. The reconstruction of elastic parameters is based on observations of the breast with the patient in different positions. Results: It is shown that several measurements with the patient in different positions allow one to choose the parameters of the model and determine the elastic coefficients of the breast and the skin. The geometry of the breast before and after surgery is simulated. A qualitative study of the incision parameters’ influence on the final geometry of the breast is presented. Conclusion: The developed methodology and software allow one to estimate the form of the breast after the surgery by knowing its form before surgery and taking into consideration the parameters of incision applied by the surgeon at the time of surgery. The described approach can be used for the qualitative and quantitative study of breast reduction surgery with a satisfactory result. Level of Evidence: V (This journal requires that authors assign a level of evidence to each article. For a full description of these Evidence-Based Medicine ratings, please refer to the Table of Contents or the online Instructions to Authors http://www.springer.com/00266.

Three-dimensional treatment planning of orthognathic surgery in the era of virtual imaging.

Item does not contain fulltextPURPOSE: The aim of this report was to present an integrated 3-dimensional (3D) virtual approach toward cone-beam computed tomography-based treatment planning of orthognathic surgery in the clinical routine. MATERIALS AND METHODS: We have described the different stages of the workflow process for routine 3D virtual treatment planning of orthognathic surgery: 1) image acquisition for 3D virtual orthognathic surgery; 2) processing of acquired image data toward a 3D virtual augmented model of the patient's head; 3) 3D virtual diagnosis of the patient; 4) 3D virtual treatment planning of orthognathic surgery; 5) 3D virtual treatment planning communication; 6) 3D splint manufacturing; 7) 3D virtual treatment planning transfer to the operating room; and 8) 3D virtual treatment outcome evaluation. CONCLUSIONS: The potential benefits and actual limits of an integrated 3D virtual approach for the treatment of the patient with a maxillofacial deformity are discussed comprehensively from our experience using 3D virtual treatment planning clinically

Calibrated segmentation of CBCT and CT images for digitization of dental prostheses.

PURPOSE: State of the art computer aided implant planning procedures typically use a surgical template to transfer the digital 3D planning to the operating room. This surgical template can be generated based on an acrylic copy of the patient's removable prosthesis--the so-called radiographic guide--which is digitized using a CBCT or CT scanner. Since the same accurate fit between the surgical template and the patient as with the radiographic guide and the patient should be ensured, a procedure to accurately digitize this guide is needed. METHODS: A procedure is created to accurately digitize radiographic guides based on a calibrated segmentation. Therefore, two steps have to be executed. First, during a calibration step a calibration object is CBCT or CT scanned and a calibration algorithm which results in an optimal threshold value is executed. Next the guide is CBCT or CT scanned and a 3D model is created using the obtained optimal threshold. To validate our method, we compared a high accuracy laser scanned copy of the guide with the generated 3D model by creating a distance map between both models. RESULTS: The procedure was performed for different CBCT and CT scanners, and the digitization error for each scanner was defined. The 90th percentile error measured on average 0.15 mm, which was always less than the applied voxel size for all CBCT and CT test scans. CONCLUSIONS: The calibration procedure evaluated in this study solves the known problem of digitizing a radiographic guide based on non-standardized gray value CBCT images. The procedure can easily be executed by a clinician and allows an accurate digitization of a radiographic guide using a CBCT or CT scanner. Starting from this digitization, an accurate surgical template can be made which has a good fit on the patient's remaining teeth and surrounding soft tissues

Predicting soft tissue deformations for a maxillofacial surgery planning system: from computational strategies to a complete clinical validation.

Item does not contain fulltextIn the field of maxillofacial surgery, there is a huge demand from surgeons to be able to pre-operatively predict the new facial outlook after surgery. Besides the big interest for the surgeon during the planning, it is also an essential tool to improve the communication between the surgeon and his patient. In this work, we compare the usage of four different computational strategies to predict this new facial outlook. These four strategies are: a linear Finite Element Model (FEM), a non-linear Finite Element Model (NFEM), a Mass Spring Model (MSM) and a novel Mass Tensor Model (MTM). For true validation of these four models we acquired a data set of 10 patients who underwent maxillofacial surgery, including pre-operative and post-operative CT data. For all patient data we compared in a quantitative validation the predicted facial outlook, obtained with one of the four computational models, with post-operative image data. During this quantitative validation distance measurements between corresponding points of the predicted and the actual post-operative facial skin surface, are quantified and visualised in 3D. Our results show that the MTM and linear FEM predictions achieve the highest accuracy. For these models the average median distance measures only 0.60 mm and even the average 90% percentile stays below 1.5 mm. Furthermore, the MTM turned out to be the fastest model, with an average simulation time of only 10 s. Besides this quantitative validation, a qualitative validation study was carried out by eight maxillofacial surgeons, who scored the visualised predicted facial appearance by means of pre-defined statements. This study confirmed the positive results of the quantitative study, so we can conclude that fast and accurate predictions of the post-operative facial outcome are possible. Therefore, the usage of a maxillofacial soft tissue prediction system is relevant and suitable for daily clinical practice

Conversion and Cosmological Confluence: Nahua-Christian Art of the 16th century

Scholarships & Prizes Office. University of Sydne

The accuracy of matching three-dimensional photographs with skin surfaces derived from cone-beam computed tomography.

Contains fulltext : 70814.pdf (publisher's version ) (Closed access)The state-of-the-art diagnostic tools in oral and maxillofacial surgery and preoperative orthodontic treatment are mainly two-dimensional, and consequently reveal limitations in describing the three-dimensional (3D) structures of a patient's face. New 3D imaging techniques, such as 3D stereophotogrammetry (3D photograph) and cone-beam computed tomography (CBCT), have been introduced. Image fusion, i.e. registration of a 3D photograph upon a CBCT, results in an accurate and photorealistic digital 3D data set of a patient's face. The purpose of this study was to determine the accuracy of three different matching procedures. For 15 individuals the textured skin surface (3D photograph) and untextured skin surface (CBCT) were matched by two observers using three different methods to determine the accuracy of registration. The registration error was computed as the difference (mm) between all points of both surfaces. The registration errors were relatively large at the lateral neck, mouth and around the eyes. After exclusion of artefact regions from the matching process, 90% of the error was within+/-1.5 mm. The remaining error was probably caused by differences in head positioning, different facial expressions and artefacts during image acquisition. In conclusion, the 3D data set provides an accurate and photorealistic digital 3D representation of a patient's face

Virtual occlusion in planning orthognathic surgical procedures.

Item does not contain fulltextAccurate preoperative planning is mandatory for orthognathic surgery. One of the most important aims of this planning process is obtaining good postoperative dental occlusion. Recently, 3D image-based planning systems have been introduced that enable a surgeon to define different osteotomy planes preoperatively and to assess the result of moving different bone fragments in a 3D virtual environment, even for soft tissue simulation of the face. Although the use of these systems is becoming more accepted in orthognathic surgery, few solutions have been proposed for determining optimal occlusion in the 3D planning process. In this study, a 3D virtual occlusion tool is presented that calculates a realistic interaction between upper and lower dentitions. It enables the surgeon to obtain an optimal and physically possible occlusion easily. A validation study, including 11 patient data sets, demonstrates that the differences between manually and virtually defined occlusions are small, therefore the presented system can be used in clinical practice.1 mei 201