Investment Horizon and the Cross Section of Expected Returns: Evidence from the Tokyo Stock Exchange

Using data from the Tokyo Stock Exchange, we study how beta, size, and ratio of book to market equity (BE/ME) account for the cross-section of expected stock returns over different lengths of investment horizons. We find that $\beta$, adjusted for infrequent trading or not, fails to explain the cross-section of monthly expected returns, but does a much better job for horizons over half- and one-year. However, either the size or the BE/ME alone is still a significant factor in explaining the cross-section expected returns, but the size significance diminishes for longer horizons when $\beta$ is included as an additional independent variable.Investment horizon, Beta, Size, Book-to-market equity, CAPM

Injury assessment via stress analysis of the human knee joint

The largest articulation inside human body is the knee joint which is composed by hard components, soft tissues and surrounded muscles. The knee is a mobile hinge, and it permits flexion, extension, slight internal and external rotation of the leg. The knee joint is vulnerable to both sharp injury and chronic osteoarthritis. Once have been injured, the knee joint is not easily restored. This study employs separately the experimental measurement, reverse engineering and finite element analysis to investigate the dynamic characteristics of intricate knee joint. The three-dimensional geometric model of each component of knee joint includes hard tissues and soft tissues. The hard tissues have femur, tibia, fibula, patella and the soft tissues have meniscus, patellar ligament, medial and lateral collateral ligament, a pair of cruciate ligaments, etc. Then the model is imported into ANSYS software. Via modal, periodic excitation and impact analysis, the dynamic characteristics of each component and the whole knee model are received. The fundamental mode shapes, natural frequencies and stresses of all the components of knee are also obtained. These normal modes are essential when investigating the dynamic motion of the whole knee. The results show that after impact, the soft tissues have larger displacement than that of the hard tissues. Consequently, the fracture occurs when the stretch which is caused by external force excess ultimate strength of the component. It also explains why the athletes frequently injure the ligaments and tendons of the knee or ankle during the intensive exercise. Therefore, by reducing the motion of articulation, the professional player could not only reduce the generated internal stresses in the tissue but also consequently lessen the chance of injury

MemorZig : A Short-Term Memory-Based Algorithm for Efficient Odour Source Tracking

The 11th International Symposium on Adaptive Motion of Animals and Machines. Kobe University, Japan. 2023-06-06/09. Adaptive Motion of Animals and Machines Organizing Committee.Poster Session P8

Analgesic and Anti-Inflammatory Activities of Methanol Extract of Ficus pumila L. in Mice

This study investigated possible analgesic and anti-inflammatory mechanisms of the methanol extract of Ficus pumila (FPMeOH). Analgesic effects were evaluated in two models including acetic acid-induced writhing response and formalin-induced paw licking. The results showed FPMeOH decreased writhing response in the acetic acid assay and licking time in the formalin test. The anti-inflammatory effect was evaluated by λ-carrageenan-induced mouse paw edema and histopathological analyses. FPMeOH significantly decreased the volume of paw edema induced by λ-carrageenan. Histopathologically, FPMeOH abated the level of tissue destruction and swelling of the edema paws. This study indicated anti-inflammatory mechanism of FPMeOH may be due to declined levels of NO and MDA in the edema paw through increasing the activities of SOD, GPx, and GRd in the liver. Additionally, FPMeOH also decreased the level of inflammatory mediators such as IL-1β, TNF-α, and COX-2. HPLC fingerprint was established and the contents of three active ingredients, rutin, luteolin, and apigenin, were quantitatively determined. This study provided evidence for the classical treatment of Ficus pumila in inflammatory diseases

Transmission of H7N9 influenza virus in mice by different infective routes.

BackgroundOn 19 February 2013, the first patient infected with a novel influenza A H7N9 virus from an avian source showed symptoms of sickness. More than 349 laboratory-confirmed cases and 109 deaths have been reported in mainland China since then. Laboratory-confirmed, human-to-human H7N9 virus transmission has not been documented between individuals having close contact; however, this transmission route could not be excluded for three families. To control the spread of the avian influenza H7N9 virus, we must better understand its pathogenesis, transmissibility, and transmission routes in mammals. Studies have shown that this particular virus is transmitted by aerosols among ferrets.MethodsTo study potential transmission routes in animals with direct or close contact to other animals, we investigated these factors in a murine model.ResultsViable H7N9 avian influenza virus was detected in the upper and lower respiratory tracts, intestine, and brain of model mice. The virus was transmissible between mice in close contact, with a higher concentration of virus found in pharyngeal and ocular secretions, and feces. All these biological materials were contagious for naïve mice.ConclusionsOur results suggest that the possible transmission routes for the H7N9 influenza virus were through mucosal secretions and feces

The mouse and ferret models for studying the novel avian-origin human influenza A (H7N9) virus.

BackgroundThe current study was conducted to establish animal models (including mouse and ferret) for the novel avian-origin H7N9 influenza virus.FindingsA/Anhui/1/2013 (H7N9) virus was administered by intranasal instillation to groups of mice and ferrets, and animals developed typical clinical signs including body weight loss (mice and ferrets), ruffled fur (mice), sneezing (ferrets), and death (mice). Peak virus shedding from respiratory tract was observed on 2 days post inoculation (d.p.i.) for mice and 3-5 d.p.i. for ferrets. Virus could also be detected in brain, liver, spleen, kidney, and intestine from inoculated mice, and in heart, liver, and olfactory bulb from inoculated ferrets. The inoculation of H7N9 could elicit seroconversion titers up to 1280 in ferrets and 160 in mice. Leukopenia, significantly reduced lymphocytes but increased neutrophils were also observed in mouse and ferret models.ConclusionsThe mouse and ferret model enables detailed studies of the pathogenesis of this illness and lay the foundation for drug or vaccine evaluation

Genetic diversity and C2-like subgenogroup strains of enterovirus 71, Taiwan, 2008

<p>Abstract</p> <p>Background</p> <p>Human enterovirus 71 (EV-71) is known of having caused numerous outbreaks of hand-foot-mouth disease, and other clinical manifestations globally. In 2008, 989 EV-71 strains were isolated in Taiwan.</p> <p>Results</p> <p>In this study, the genetic and antigenic properties of these strains were analyzed and the genetic diversity of EV-71 subgenogroups surfacing in Taiwan was depicted, which includes 3 previously reported subgenogroups of C5, B5, and C4, and one C2-like subgenogroup. Based on the phylogenetic analyses using their complete genome nucleotide sequences and neutralization tests, the C2-like subgenogroup forms a genetically distinct cluster from other subgenogroups, and the antisera show a maximum of 128-fold decrease of neutralization titer against this subgenogroup. In addition, the subgenogroup C4 isolates of 2008 were found quite similar genetically to the Chinese strains that caused outbreaks in recent years and thus they should be carefully watched.</p> <p>Conclusions</p> <p>Other than to be the first report describing the existence of C2-like subgenogroup of EV-71 in Taiwan, this article also foresees a potential of subgenogroup C4 outbreaks in Taiwan in the near future.</p