The information content of the Financial Mail’s “Top Companies” announcements

Investors look beyond accounting and financial data and incorporate factors relating to morality, society, the environment and corporate governance (inter alia) in making their investment choices. This study examines the share price performance of South African companies which best comply with the financial and qualitative criteria as prescribed in the Financial Mail’s “Top Companies” publication. Using event-study methodology, the abnormal and cumulative abnormal returns of companies recommended by analysts as “Top Companies” were examined. Positive, significant excess cumulative returns were observed for new entrants to the “Top Companies” sample after the publication date. Thereafter, negative returns were observed for the long-term post-publication holding period of up to 200 trading days. The results suggest that any new information related to the criteria in the FM “Top Companies” publication is of value, but only to short-term traders with low transaction costs. Long-term investors who buy these shares based on the recommendations of the FM analysts generally receive below market rates of return, suggesting that once companies have made it into the list, the value is overstated.www.sajar.co.zanf201

Asymmetric Bethe-Salpeter equation for pairing and condensation

The Martin-Schwinger hierarchy of correlations are reexamined and the three-particle correlations are investigated under various partial summations. Besides the known approximations of screened, ladder and maximally crossed diagrams the pair-pair correlations are considered. It is shown that the recently proposed asymmetric Bethe-Salpeter equation to avoid unphysical repeated collisions is derived as a result of the hierarchical dependencies of correlations. Exceeding the parquet approximation we show that an asymmetry appears in the selfconsistent propagators. This form is superior over the symmetric selfconsistent one since it provides the Nambu-Gorkov equations and gap equation for fermions and the Beliaev equations for bosons while from the symmetric form no gap equation results. The selfenergy diagrams which account for the subtraction of unphysical repeated collisions are derived from the pair-pair correlation in the three-particle Greenfunction. It is suggested to distinguish between two types of selfconsistency, the channel-dressed propagators and the completely dressed propagators, with the help of which the asymmetric expansion completes the Ward identity and is $\Phi$-derivable.Comment: 12 pages. 26 figure

Measurements of Cabibbo Suppressed Hadronic Decay Fractions of Charmed D0 and D+ Mesons

Using data collected with the BESII detector at $e^{+}e^{-}$ storage ring Beijing Electron Positron Collider, the measurements of relative branching fractions for seven Cabibbo suppressed hadronic weak decays $D^0 \to K^- K^+$, $\pi^+ \pi^-$, $K^- K^+ \pi^+ \pi^-$ and $\pi^+ \pi^+ \pi^- \pi^-$, $D^+ \to \bar{K^0} K^+$, $K^- K^+ \pi^+$ and $\pi^- \pi^+ \pi^+$ are presented.Comment: 11 pages, 5 figure

Studies of Dense Cores with ALMA

Dense cores are the simplest star-forming sites that we know, but despite their simplicity, they still hold a number of mysteries that limit our understanding of how solar-type stars form. ALMA promises to revolutionize our knowledge of every stage in the life of a core, from the pre-stellar phase to the final disruption by the newly born star. This contribution presents a brief review of the evolution of dense cores and illustrates particular questions that will greatly benefit from the increase in resolution and sensitivity expected from ALMAComment: 6 pages, 2 figures, to appear in Astrophysics and Space Science, special issue of "Science with ALMA: a new era for Astrophysics" conference, ed. Dr. Bachille

Global surveillance of cancer survival 1995-2009: analysis of individual data for 25,676,887 patients from 279 population-based registries in 67 countries (CONCORD-2)

BACKGROUND: Worldwide data for cancer survival are scarce. We aimed to initiate worldwide surveillance of cancer survival by central analysis of population-based registry data, as a metric of the effectiveness of health systems, and to inform global policy on cancer control. METHODS: Individual tumour records were submitted by 279 population-based cancer registries in 67 countries for 25·7 million adults (age 15-99 years) and 75,000 children (age 0-14 years) diagnosed with cancer during 1995-2009 and followed up to Dec 31, 2009, or later. We looked at cancers of the stomach, colon, rectum, liver, lung, breast (women), cervix, ovary, and prostate in adults, and adult and childhood leukaemia. Standardised quality control procedures were applied; errors were corrected by the registry concerned. We estimated 5-year net survival, adjusted for background mortality in every country or region by age (single year), sex, and calendar year, and by race or ethnic origin in some countries. Estimates were age-standardised with the International Cancer Survival Standard weights. FINDINGS: 5-year survival from colon, rectal, and breast cancers has increased steadily in most developed countries. For patients diagnosed during 2005-09, survival for colon and rectal cancer reached 60% or more in 22 countries around the world; for breast cancer, 5-year survival rose to 85% or higher in 17 countries worldwide. Liver and lung cancer remain lethal in all nations: for both cancers, 5-year survival is below 20% everywhere in Europe, in the range 15-19% in North America, and as low as 7-9% in Mongolia and Thailand. Striking rises in 5-year survival from prostate cancer have occurred in many countries: survival rose by 10-20% between 1995-99 and 2005-09 in 22 countries in South America, Asia, and Europe, but survival still varies widely around the world, from less than 60% in Bulgaria and Thailand to 95% or more in Brazil, Puerto Rico, and the USA. For cervical cancer, national estimates of 5-year survival range from less than 50% to more than 70%; regional variations are much wider, and improvements between 1995-99 and 2005-09 have generally been slight. For women diagnosed with ovarian cancer in 2005-09, 5-year survival was 40% or higher only in Ecuador, the USA, and 17 countries in Asia and Europe. 5-year survival for stomach cancer in 2005-09 was high (54-58%) in Japan and South Korea, compared with less than 40% in other countries. By contrast, 5-year survival from adult leukaemia in Japan and South Korea (18-23%) is lower than in most other countries. 5-year survival from childhood acute lymphoblastic leukaemia is less than 60% in several countries, but as high as 90% in Canada and four European countries, which suggests major deficiencies in the management of a largely curable disease. INTERPRETATION: International comparison of survival trends reveals very wide differences that are likely to be attributable to differences in access to early diagnosis and optimum treatment. Continuous worldwide surveillance of cancer survival should become an indispensable source of information for cancer patients and researchers and a stimulus for politicians to improve health policy and health-care systems

Measurement of the View the tt production cross-section using eμ events with b-tagged jets in pp collisions at √s = 13 TeV with the ATLAS detector

This paper describes a measurement of the inclusive top quark pair production cross-section (σtt¯) with a data sample of 3.2 fb−1 of proton–proton collisions at a centre-of-mass energy of √s = 13 TeV, collected in 2015 by the ATLAS detector at the LHC. This measurement uses events with an opposite-charge electron–muon pair in the final state. Jets containing b-quarks are tagged using an algorithm based on track impact parameters and reconstructed secondary vertices. The numbers of events with exactly one and exactly two b-tagged jets are counted and used to determine simultaneously σtt¯ and the efficiency to reconstruct and b-tag a jet from a top quark decay, thereby minimising the associated systematic uncertainties. The cross-section is measured to be: σtt¯ = 818 ± 8 (stat) ± 27 (syst) ± 19 (lumi) ± 12 (beam) pb, where the four uncertainties arise from data statistics, experimental and theoretical systematic effects, the integrated luminosity and the LHC beam energy, giving a total relative uncertainty of 4.4%. The result is consistent with theoretical QCD calculations at next-to-next-to-leading order. A fiducial measurement corresponding to the experimental acceptance of the leptons is also presented

Search for strong gravity in multijet final states produced in pp collisions at √s=13 TeV using the ATLAS detector at the LHC

A search is conducted for new physics in multijet final states using 3.6 inverse femtobarns of data from proton-proton collisions at √s = 13TeV taken at the CERN Large Hadron Collider with the ATLAS detector. Events are selected containing at least three jets with scalar sum of jet transverse momenta (HT) greater than 1TeV. No excess is seen at large HT and limits are presented on new physics: models which produce final states containing at least three jets and having cross sections larger than 1.6 fb with HT > 5.8 TeV are excluded. Limits are also given in terms of new physics models of strong gravity that hypothesize additional space-time dimensions