Reward-to-risk ratios in Turkish financial markets

This paper investigates how reward-to-risk ratios compare among various government debt security (GDS) indices and sector indices in the Istanbul Stock Exchange. Risk is measured by either standard deviation or nonparametric and parametric value at risk. We find that the GDS indices have higher reward-to-risk ratios compared to the sector indices. GDS indices with longer maturities have lower reward-to-risk ratios and this reduction is especially pronounced when the ratios take downside risk into account. The reward-to-risk rankings for the sector indices are similar for each measure and the results are robust to currency conversion

Risk-adjusted performances of world equity indices

This paper investigates whether equity indices of 24 emerging and 28 developed markets compensate their investors equally after taking risk into account. We place special emphasis on downside risk by calculating both nonparametric and parametric value at risk. We find that when all 52 markets are ranked based on their alternative reward-to-risk ratios, almost all of the countries in the top quartile are emerging markets whereas almost all of the countries in the bottom quartile are developed markets. These results are supported by the finding that pooled means of the reward-to-risk ratios are significantly higher for emerging markets compared to those of developed markets. Focusing on the period after the initiation of the recent financial crisis reveals that, although both developed and emerging markets suffered in terms of generating higher returns per unit risk, emerging markets continued to outperform developed markets and the outperformance became more pronounced

Reward-to-risk ratios in Turkish financial markets (Türkiye finans piyasalarında getiri-risk rasyoları)

This paper investigates how reward-to-risk ratios compare among various government debt security (GDS) indices and sector indices in the Istanbul Stock Exchange. Risk is measured by either standard deviation or nonparametric and parametric value at risk. We find that the GDS indices have higher reward-to-risk ratios compared to the sector indices. GDS indices with longer maturities have lower reward-to-risk ratios and this reduction is especially pronounced when the ratios take downside risk into account. The reward-to-risk rankings for the sector indices are similar for each measure and the results are robust to currency conversion

Association of Stress and Laryngopharyngeal Reflux with Vocal Fold Polyps

Aim: Stress and laryngopharyngeal reflux can cause many laryngeal pathologies. In this study, we aimed to investigate the role of stress and laryngopharyngeal reflux (LPR) in the development of vocal fold polyps. Methods: Forty-five patients who were scheduled for surgery because of vocal fold polyps between October 2021 and May 2022 were included in the study. A control group was formed from 45 patients who applied to the otolaryngology outpatient clinic with the complaint of hoarseness lasting more than 3 weeks and had no vocal cord lesion in their 70-degree rigid endoscopic examination. Participants were asked to complete the reflux symptom index and depression anxiety stress scale (DASS) questionnaires. Reflux finding score (RFS) and grade, roughness, pallor, asthenia, strain, instability (GRBASI) voice analyses were conducted by two otolaryngologists familiar with both scales. Results: There was no significant difference between the speech characteristics of the patient groups. Reflux symptom index, RFS, and GRBASI scores were significantly higher in the group with vocal fold polyps (p=0.000, p=0.000, and p=0.009, respectively). Stress scores for DASS were significantly higher in the control group (p=0.025). There was no significant difference between the two groups in terms of depression and anxiety scores. Conclusion: Laryngopharyngeal reflux is more prevalent in patients with vocal fold polyps. This may be related to mucosal or submucosal damage from LPR. We also observed that increased stress can cause hoarseness without vocal fold lesions

Appropriate Usage Level of Shrimp Waste Meal as Chitin Source for Feeding Young Crayfish (Astacus leptodactylus Esch. 1823)

This study was conducted to determine effects of shrimp waste meal as natural chitin source at different rates (0 (control), 10, 20, 30 and 40% ) on growth, feed conversion ratio (FCR), survival of young crayfish (1.61±0.04 g and 3.74±0.03 cm) for 60 days. Fifteen glass aquariums (70x30x40 cm) were used in the experiment and 20 individuals were stocked per aquarium (95/m2). The highest of final weight and weight gain were obtained in feed with 10% shrimp waste meal group (3.29±0.23 and 1.66±0.23 g), while the lowest of final weight and weight gain was obtained in fed with 40% shrimp waste meal group (2.75±0.35 and 1.18±0.37 g), respectively. However, non-significant differences were found between final weight, weight gain, specific growth rate, final total length, feed conversion ratio, survival percentage among groups at the end of experimental period. It was concluded that shrimp waste meal as natural chitin source can be used in young crayfish diets up to 40% without adverse effect influence on growth

Supraglottic Kaposi’s Sarcoma in HIV-Negative Patients: Case Report and Literature Review

This paper presents a case report of an HIV-negative, supraglottic Kaposi’s sarcoma patient. The 80-year-old male patient was admitted with complaints of hoarseness, difficulty in swallowing, and a stinging sensation in his throat for approximately six months. The endoscopic larynx examination revealed a lesion which had completely infiltrated the epiglottis, reached right aryepiglottic fold, was vegetating, pink and purple in color, multilobular, fragile, and shaped like a bunch of grapes, and partially blocked the bleeding airway passage. The case was discussed by the hospital’s head-neck cancer committee and a surgery decision was made. A tracheotomy was performed under local anesthesia before the operation due to respiratory distress and endotracheal intubation difficulty. Direct laryngoscopy showed that the mass was limited in the supraglottic area, had invaded the entire left aryepiglottic fold and one-third of the front right aryepiglottic fold, and completely covered epiglottis. It should be remembered that although rare, Kaposi’s sarcoma may be encountered in larynx malignancy cases. Disease-free survival may be achieved through local excision and postoperative radiotherapy

Reducing the environmental impact of surgery on a global scale: systematic review and co-prioritization with healthcare workers in 132 countries

Abstract Background Healthcare cannot achieve net-zero carbon without addressing operating theatres. The aim of this study was to prioritize feasible interventions to reduce the environmental impact of operating theatres. Methods This study adopted a four-phase Delphi consensus co-prioritization methodology. In phase 1, a systematic review of published interventions and global consultation of perioperative healthcare professionals were used to longlist interventions. In phase 2, iterative thematic analysis consolidated comparable interventions into a shortlist. In phase 3, the shortlist was co-prioritized based on patient and clinician views on acceptability, feasibility, and safety. In phase 4, ranked lists of interventions were presented by their relevance to high-income countries and low–middle-income countries. Results In phase 1, 43 interventions were identified, which had low uptake in practice according to 3042 professionals globally. In phase 2, a shortlist of 15 intervention domains was generated. In phase 3, interventions were deemed acceptable for more than 90 per cent of patients except for reducing general anaesthesia (84 per cent) and re-sterilization of ‘single-use’ consumables (86 per cent). In phase 4, the top three shortlisted interventions for high-income countries were: introducing recycling; reducing use of anaesthetic gases; and appropriate clinical waste processing. In phase 4, the top three shortlisted interventions for low–middle-income countries were: introducing reusable surgical devices; reducing use of consumables; and reducing the use of general anaesthesia. Conclusion This is a step toward environmentally sustainable operating environments with actionable interventions applicable to both high– and low–middle–income countries

Use of Fermented Soybean Meal with Whey as a Protein Source for Feeding Juvenile Tilapia (Oreochromis niloticus)

In this study, the effect of fish meal substitution with fermented soybean meal in juvenile tilapia (Oreochromis niloticus, L.1758) diets was investigated. Six experimental diets were prepared by replacing 0 (FM, control), 10% (FSM10), 20% (FSM20), 30% (FSM30), 40% (FSM40), and 50% (FSM50) of the fish meal protein in the control diet by fermented soybean meal with whey (FSMW). The control diet contained no fermented soybean meal. The isonitrogenous and isocaloric diets were fed to juvenile tilapia (initial average weight 0.74 g) for 90 days. Each diet group was fed in triplicate to 24 fish per aquarium. At the end of the experiment, highest growth, feed efficiency, and protein digestibility were found in the group fed the FSM30 diet. Tilapia fed diets containing fermented soybean meal up to 50% fish meal exhibited similar growth, feed conversion ratio (FCR), protein efficiency ratio (PER), and protein digestibility compared with the control diet. However, feed efficiency (FE) was reduced in tilapia fed FSM50 diet. Body composition, hepatosomatic index (HIS) and viscerosomatic index (VSI) were unaffected by the dietary treatment. Results of this study showed that FSMW could replace up to 40% of fish meal protein in juvenile tilapia diet

Canola Meal as an Alternative Protein Source in Diets for Fry of Tilapia (Oreochromis niloticus)

Canola meal was used to replace fishmeal protein in diets for fry of tilapia (Oreochromis niloticus L. 1758) at rates of 0 (control), 10%, 20%, 30%, 40%, and 50%. The diets contained approximately 30% crude protein and 3000 kcal/kg digestible energy. The fry were fed 90 days and the growth, feed conversion ratio, protein efficiency ratio, hepatosomatic index, reno- somatic index, and body composition were determined. The final weight (5.12 g) and feed intake (7.99 g) of fry fed the 10% diet did not significantly differ from those of the control. Weight gains declined beyond this replace- ment level, probably because of increased levels of antinutritional factors, particularly glucosinolates. Whole body percentages for moisture, crude lipid, crude protein, and ash were unaffected by the dietary treatment. Re- sults indicate that protein from canola meal can replace up to 10% of protein from fishmeal in diets for tilapia fry