430 research outputs found

    Lower restrictions for start-ups to list on stock exchanges have mixed results

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    Firms that use the system grow faster in size, but not in profits, find Hidenori Takahashi and Kazuo Yamad

    Current status and legal/ethical problems in the research use of the tissues of aborted human fetuses in Japan

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    To date, there is no law regulating the research use of human aborted fetuses in Japan. The aim was to review the current status with historical background and legal/ethical problems limiting the research use of the tissues of aborted human fetuses. We reviewed literature via PubMed, Web of Science, Scopus, Japana Centra Revuo Medicina and CiNii, reports from various committees and research groups from Ministry of Health, Labour and Welfare (MHLW), and domestic books. Aborted human fetal tissues used for research purposes were first documented in the 1920s. The first guideline, the Peel Code was released in 1972. Since then, in Western countries, the research use of aborted fetuses has been less restricted compared with that of embryos, due to the following guidelines outlined by expert groups. Currently, aborted fetal tissues are commercially available for research purposes in the United States. In Japan, only four indications are presented in “a public statement permitting research use of deceased fetuses' and ‘neonates’ organs, etc.” (1987). In the 2000s, expert committees of the MHLW concluded that research use of human aborted fetuses should be discontinued, and that comprehensive rules and independent regulations should be implemented. This issue has not been discussed in the Japanese legislature since 2003. Establishment of laws and guidelines for this issue is insufficient not only in Japan but also in other countries. It is important to secure transparency for making laws and guidelines and in obtaining public understanding

    IPOs, growth, and the impact of relaxing listing requirements

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    We investigate the impact of relaxing listing requirements on firms\u27 growth around initial public offerings (IPOs). Japan experienced several deregulations of listing requirements in the late 1990s. We use a dataset that covers both public and private firms for more than 30. years, which enables us to compare the firms\u27 operating growth around IPOs as well as to compare the growth under both strict and relaxed listing requirements. When comparing the matched firms, we find that IPO firms\u27 excess growth in profitability and productivity diminished after their IPOs, while their excess growth in terms of size (measured by sales and number of employees) still increased in the post-IPO period. This finding indicates that relaxing listing requirements enables high-growth firms to go public but does not lead to subsequent growth in productivity and profitability, although it does enable firms to be larger more after going public

    The Bank of Japan’s equity purchases and stock illiquidity

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    Using the large-scale index-linked exchange-traded fund (ETF) purchase program of the Bank of Japan (BOJ), we examine the role of unconventional equity-based monetary policies in the market liquidity of the underlying securities. Using a large sample of Japanese stocks, we document a significant increase in stock illiquidity when a firm's ownership by the BOJ increases. Intensified ETF arbitrage activities partially mediate such effect. The increased illiquidity is concentrated among small and young firms and those whose shares are likely subject to strong buying pressure. Finally, BOJ ownership increases comovement in liquidity and reduces informational efficiency

    Effect of nalfurafine hydrochloride on the basal pressure of the sphincter of Oddi in anesthetized rabbits

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    Background: Opioid analgesics, which are classified as ÎŒ-opioid receptor agonists, are known to induce spasms or contraction of the sphincter of Oddi (SO), thereby inducing or exacerbating biliary diseases such as biliary obstruction, gallbladder dysfunction, cholelithiasis, pancreatitis, biliary dyskinesia, cholangitis, and cholecystitis. However, effects of Îș-opioid receptor agonists on SO contraction have not been clarified. In the present study, we investigated the effect of nalfurafine hydrochloride (nalfurafine), (E)-N-[17-(cyclopropylmethyl)-4,5α-epoxy-3,14-dihydroxymorphinan-6ÎČ-yl]-3-(furan-3-yl)-N-methylprop-2-enamide monohydrochloride, a selective Îș-opioid receptor agonist, on spontaneous contraction of rabbit SO.Methods: SO contraction was measured using manometry in anesthetized rabbits. Rabbits were anesthetized with intravenous administration of 25 mg/kg sodium pentobarbital. An open tip catheter was inserted into the common bile duct toward the SO ampullae. Saline was perfused through the lumen of the open tip catheter at a constant rate of 6 ml/hr using a syringe pump. Nalfurafine, morphine, and pentazocine were intravenously (i.v.) administered and perfusion pressure was recorded.Results: Morphine (0.3 mg/kg, i.v.) and pentazocine (3 mg/kg, i.v.) were found to increase SO perfusion pressure, suggesting that these opioid analgesics may cause SO contraction. In contrast, nalfurafine (0.2 ÎŒg/kg, i.v.) decreased the perfusion pressure, indicating that this Îș-opioid receptor agonist suppresses SO contraction.Conclusions: These findings suggest that nalfurafine is unlikely to induce or exacerbate biliary diseases and may be safely used in patients with these disorders

    Finite volume QCD at fixed topological charge

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    In finite volume the partition function of QCD with a given Ξ\theta is a sum of different topological sectors with a weight primarily determined by the topological susceptibility. If a physical observable is evaluated only in a fixed topological sector, the result deviates from the true expectation value by an amount proportional to the inverse space-time volume 1/V. Using the saddle point expansion, we derive formulas to express the correction due to the fixed topological charge in terms of a 1/V expansion. Applying this formula, we propose a class of methods to determine the topological susceptibility in QCD from various correlation functions calculated in a fixed topological sector.Comment: 22pages, references adde

    Differential determinants of physical daily activities in frail and nonfrail community-dwelling older adults

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    AbstractBackground/PurposeThe purpose of this study was to determine whether or not daily activities determined by average daily steps are associated with age, gender, body mass index, fear of falling, and physical functions (locomotive function, balance function, and muscle power) in community-dwelling nonfrail and frail older adults.MethodsThis is a cross-sectional study conducted in community-dwelling older adults in Japan. Based on the Timed Up and Go (TUG) test, 629 elderly adults were divided into two groups: 515 were grouped to nonfrail elderly (TUG time less than 13.5 seconds, mean age 77.0±7.2 years) and 114 to frail elderly (TUG time of 13.5 seconds or more, mean age 76.1±7.5 years). Daily physical activities were determined by average daily steps measured by pedometer and four other physical function tests (10-m walk test, single-leg standing, functional reach, and five-chair stand test) were performed along with the assessment of fear of falling.ResultsStepwise regression analysis revealed that age, gender, 10-m walk test, and single-leg standing were significant and independent determinants of the average step counts in the nonfrail elderly (R2=0.282, p<0.001), whereas fear of falling was the only significant and independent determinant of the average step counts in the frail elderly (R2=0.119, p<0.001).ConclusionThese results indicate that differential factors may be related to daily activities depending on the level of frailty in community-dwelling older adults
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