184 research outputs found
Corporate hedging policy and the accuracy of analysts' forecasts : evidence from large, non-financial U.S. corporations
This paper examines the accuracy of forecasts of financial analysts in light of the hedging policies of the S&P 500 non-financial companies over the 1994-1997 period. Given that hedging reduces the volatility of cash flows, we ask whether it allows financial analysts to provide more accurate forecasts for firms that hedge than for firms that do not. Three data sources are used to construct the data set for this study: the Edgar database, Compustat and I/B/E/S. Univariate and multivariate tests are run in order to determine the effect of the usage of derivative products for hedging purposes, as well as that of the level of the usage, on analysts' forecasts accuracy. Only interest rate risk and foreign exchange risk hedging are considered, separately and together as the total hedging variable. The empirical results show that neither the involvement, nor the degree of involvement in hedging activities of a firm will result in more accurate forecasts, when considering the 1-year forecasts. Interest rate hedging and overall hedging do not impact on the accuracy of forecasts in a statistically significant way. However, surprisingly, the results show an increase in the forecast error when the company is involved in higher levels of foreign exchange hedging. The results also show evidence that the further away in time the forecast is made, the more relevant the hedging policies of a company are to the analyst
Organizational Context Factors Influencing Employee Performance Appraisal: A Research Framework
AbstractTrends in the current literature emphasize the role of the organizational context in employee performance appraisal processes (e.g. Levy & Williams, 2004; Armstrong & Ward, 2005 and Murphy & DeNisi, 2008). The current study aims to develop a comprehensive research framework in order to investigate the employee performance appraisal systems and processes based on main organizational contextual dimensions, in highlighting the relevance of customization according to a company's specific organizational context. In addition, focusing on a strategic approach on human resources management, the study offers insights on the role of organizational context in developing employee performance appraisal systems that could contribute to higher performance in overall organizational strategy implementation
Medical and bioethical dilemma in case of medical error
Department of Philosophy and Bioethics, Nicolae
Testemitanu State University of Medicine and Pharmacy, Chisinau, Republic of Moldova, The 8th International Medical Congress for Students and Young Doctors, September 24-26, 2020Introduction. In Republic of Moldova, the medical error is encountered more often than we
think. This isn’t known because every day, people are forced to keep silent about some
irregularities, and this may affect both, the patient and the medical staff. Annually, the number
of cases of medical errors that had been reported is unrealistically low. Even the law does not
come to the aid of people affected by malpractice, error or mistake, as all these terms are
covered by the term of medical error.
Aim of the study. Detecting the actual prevalence of medical errors and the level of protection
available to patients.
Materials and methods. This descriptive-analytical study was conducted on 20 medical
workers. Data was collected using a valid and reliable questionnaire, consisting of two parts:
demographic information and questions about the level of protection perceived by medical
workers and their role in solving medical errors that they witnessed.
Results. From the analysis of the questionnaires we found that 69% of the medical workers
surveyed witnessed at least one case of medical error. As a result of this error, no action was
taken in 71% of cases and 23% of cases ended in a harsh reprimand. This may be a consequence
of the fact that in more than half of the cases, even patients or their relatives did not notice that
a violation had occurred to them, and if they did, most of them overlooked it. Even in the
context of the legislation, there was not much data, with 55% saying that the state is not taking
sufficient measures to prevent or cases of medical errors.
Conclusions. 1. The number of medical errors exceeds expectations. 2. The population does
not have sufficient medical education to detect some medical violations. 3. Preventing and
combating the majority of medical violations is legally impossible. 4. Although medical
workers would like to combat medical errors or mistakes, it is not only up to them, the change
must occur at a social and political level
Reactive dye removal from aqueous solution by sorption on modified ash
Effluents of textile dyeing
are characterized by intense colour,
chemical oxygen demand, suspended solids
and a variety of refractory matter, such as
heavy metals and nonionic surfactants.
Strong colours may reduce light penetration,
thus affecting the growth of plants and
having impact on invertebrate and other
forms of wildlife. There are a large number
of methods for dyes removal, such as
membrane separation, flocculation,
sonolysis, anaerobic biological treatments,
oxidative destruction via UV/ozone
treatment, photocatalytic degradation,
which have certain efficiency but their
initial and operational costs are so great.
Sorption is one of the several techniques
that have been successfully utilized for dyes
removal. A large number of materials have
been used as suitable sorbents for
decolourization of industrial effluents:
activated carbon (the most common but
expensive adsorbent), polymeric resins,
various low-cost adsorbents (agricultural
and industrial by-products, peat, chitin,
silica, fly ash, etc.) Our investigation
presented the preliminary results of the
study on modified ash, which has been
tested for its use as material with sorptive
properties in the recovery of dyes from
waste waters. The batch equilibrium of
reactive dye Brilliant Red HE-3B sorption
on industrial waste, based on ash was
investigated in order to explore its potential
use as low cost sorbent for wastewater dye
removal. The results indicated that the
sorption of tested dye depended on initial
dye concentration, sorbent mass, pH,
temperature and contact time. The sorption
of dyes increased with ash dose, dye
concentration and temperature increase.
Even if the sorption capacity of ash was
relatively small, ash could be used for the
removal of dyes from aqueous effluents
The Molecular Restructuring of Classical Desserts by Using Food Industry By-Products
Fruit and vegetable by-products are in general thrown away and can cause environmental problems, even though they are a valuable source of bioactive compounds, which may be used for innovative food production.The present work focused on achieving a new type of dessert, a “Sweetburger”, by restructuring its molecular components with the aid of molecular gastronomy techniques and using agro-industrial wastes (beetroot and sour cherry pulp and peels, melon pomace). The innovative dessert has been obtained and the bioactive compounds contained in the agro-industrial wastes have been characterized using the HPLC method, Folin-Ciocalteu and spectrophotometry. The total polyphenol content from sour cherries waste was significant, 508,9 mg gallic acid/100 g. The total anthocyanin content from beetroot pulp was 0,117 mg/ 100 g
Melanoma’s sentinel node biopsy: comparison between two clinical hospitals over 5 years
University of Medicine and Pharmacy of Targu Mures, Romania,
University Hospital of Parma, ItalyIntroduction. Sentinel lymph node (SLN) is defined as the first lymph node localized on the
direct lymphatic drainage pathway from a primary tumor. The sentinel lymph node biopsy
(SLNB) is largely used in breast cancer and melanoma but it may also be useful in other
epithelial skin cancers as well as in tumors located in the upper or lower gastrointestinal tract,
lungs, thyroid, cervix and vulva. SLNB in melanoma is essential for an accurate staging, to
estimate the risk of extension to other lymph nodes or organs and to evaluate the prognosis.
Melanoma, even if it is not as common as the basal cell carcinoma or squamous cell carcinoma
among the skin tumors, presents an increasing incidence and a higher mortality
The clinical and evolutionary characteristics of mumps meningitis in teenagers and adults
Catedra Boli infecţioase, tropicale şi parazitologie medicală USMF „N.Testemiţanu”, Spitalul Clinic de Boli infecţioase „T.Ciorbă”Out of 40 patient with mumps meningitis admitted to the T.Ciorba Clinical Hospital of the Infectious Diseases between November 2007-February 2008 most frequently were affected the men (98%), their age being between 14-29 years old, presented by students pupils. Meningitis, as a rule, appeared at the 6-9 day. The combinated form (parotiditis +orhitis +pancreatitis + meningitis) has been revealed in 72% of cases. Meningitis symptoms have been diagnosed in 58% of cases. The lumbar punction has revealed hypertensive transparent liquor, limphocitozis and insignificant modifications of the glucose and chloride levels.
Au fost examinaţi 40 de bolnavi cu oreion la care s-a dezvoltat tabloul clinic de meningită urliană, spitalizaţi în SCBI ”T. Ciorbă” pe parcursul a 4 luni (noembrie 2007 – februarie 2008). Vîrsta pacienţilor a variat între 14 – 29 ani, majoritatea fiind elevi şi studenţi din diferite colectivităţi, printre care predominau bărbaţi (98%). Meningita s-a declanşat, de regulă, la a 6-9 zi de boală. La majoritatea (72%) pacienţilor s-a stabilit forma combinată a maladiei (oreion + meningită + pancreatită +orhită). Semnele meningiene s-au depistat la doar 25 (58%) pacienţi. LCR s-a caracterizat printr-o pleiocitoză limfocitară şi modificări neesenţiale a glucozei şi hlorizilor
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