Search results for: liver functionality index
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 4789

Search results for: liver functionality index

4159 Risk Assessment of Heavy Rainfall and Development of Damage Prediction Function for Gyeonggi-Do Province

Authors: Jongsung Kim, Daegun Han, Myungjin Lee, Soojun Kim, Hung Soo Kim

Abstract:

Recently, the frequency and magnitude of natural disasters are gradually increasing due to climate change. Especially in Korea, large-scale damage caused by heavy rainfall frequently occurs due to rapid urbanization. Therefore, this study proposed a Heavy rain Damage Risk Index (HDRI) using PSR (Pressure – State - Response) structure for heavy rain risk assessment. We constructed pressure index, state index, and response index for the risk assessment of each local government in Gyeonggi-do province, and the evaluation indices were determined by principal component analysis. The indices were standardized using the Z-score method then HDRIs were obtained for 31 local governments in the province. The HDRI is categorized into three classes, say, the safest class is 1st class. As the results, the local governments of the 1st class were 15, 2nd class 7, and 3rd class 9. From the study, we were able to identify the risk class due to the heavy rainfall for each local government. It will be useful to develop the heavy rainfall prediction function by risk class, and this was performed in this issue. Also, this risk class could be used for the decision making for efficient disaster management. Acknowledgements: This research was supported by Basic Science Research Program through the National Research Foundation of Korea (NRF) funded by the Ministry of Science, ICT & Future Planning (2017R1A2B3005695).

Keywords: natural disaster, heavy rain risk assessment, HDRI, PSR

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4158 Effects of Boldenone Injections and Endurance Exercise on Hepatocyte Morphologic Damages in Male Wistar Rats

Authors: Seyyed Javad Ziaolhagh

Abstract:

Background: The purpose of present study was to investigate, the effects of anabolic steroid Boldenone (BOL) with eight weeks of resistance training on structural changes in rat liver. Method: 21 Male adult Wistar rats, 12 weeks old and 228/53±7/94 g initial body weight were randomly assigned to three groups: group1: Control+ Placebo (C), group2: training+ Placebo (T), group3: Boldenone intramuscular injections 5mg/kg (B). The endurance training protocol consisted three exercise sessions weekly started by a 30-minute run with the speed of 12 m/min and lasted by 60min run with the speed of 30 m/min in 8 weeks. At the end of the experiment, for light microscopic study Slides were prepared. Results: Sections stained of rat's livers showed no any cell degeneration and cytoplasmic lipid vacuoles in all groups, but few samples were seen. Indeed, congested blood sinusoids, cell infiltration and degeneration were seen in the Boldenone-treated group. Hepatotoxic effects were severe in group treatment received 5 mg/kg and directly depended on the doses. Indeed, training group was no any hepatocyte degeneration, inflammation and congestion. Conclusion: The present results showed that BOL has a marked adverse effect on the liver tissue, even with low– dose and endurance training. As a result, athletes should aware of Boldenone dosage consumption.

Keywords: anabolic androgenic steroids, Boldenone, blood congestion, cellular inflammation, cellular degeneration, lipid vocuolations, endurance training

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4157 Instant Fire Risk Assessment Using Artifical Neural Networks

Authors: Tolga Barisik, Ali Fuat Guneri, K. Dastan

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Major industrial facilities have a high potential for fire risk. In particular, the indices used for the detection of hidden fire are used very effectively in order to prevent the fire from becoming dangerous in the initial stage. These indices provide the opportunity to prevent or intervene early by determining the stage of the fire, the potential for hazard, and the type of the combustion agent with the percentage values of the ambient air components. In this system, artificial neural network will be modeled with the input data determined using the Levenberg-Marquardt algorithm, which is a multi-layer sensor (CAA) (teacher-learning) type, before modeling the modeling methods in the literature. The actual values produced by the indices will be compared with the outputs produced by the network. Using the neural network and the curves to be created from the resulting values, the feasibility of performance determination will be investigated.

Keywords: artifical neural networks, fire, Graham Index, levenberg-marquardt algoritm, oxygen decrease percentage index, risk assessment, Trickett Index

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4156 3D Interactions in Under Water Acoustic Simulationseffect of Green Synthesized Metal Nanoparticles on Gene Expression in an In-Vitro Model of Non-alcoholic Steatohepatitis

Authors: Nendouvhada Livhuwani Portia, Nicole Sibuyi, Kwazikwakhe Gabuza, Adewale Fadaka

Abstract:

Metabolic dysfunction-associated liver disease (MASLD) is a chronic condition characterized by excessive fat accumulation in the liver, distinct from conditions caused by alcohol, viral hepatitis, or medications. MASLD is often linked with metabolic syndrome, including obesity, diabetes, hyperlipidemia, and hypertriglyceridemia. This disease can progress to metabolic dysfunction-associated steatohepatitis (MASH), marked by liver inflammation and scarring, potentially leading to cirrhosis. However, only 43-44% of patients with steatosis develop MASH, and 7-30% of those with MASH progress to cirrhosis. The exact mechanisms underlying MASLD and its progression remain unclear, and there are currently no specific therapeutic strategies for MASLD/MASH. While anti-obesity and anti-diabetic medications can reduce progression, they do not fully treat or reverse the disease. As an alternative, green-synthesized metal nanoparticles (MNPs) are emerging as potential treatments for liver diseases due to their anti-diabetic, anti-inflammatory, and anti-obesity properties with minimal side effects. MNPs like gold nanoparticles (AuNPs) and silver nanoparticles (AgNPs) have been shown to improve metabolic processes by lowering blood glucose, body fat, and inflammation. The study aimed to explore the effects of green-synthesized MNPs on gene expression in an in vitro model of MASH using C3A/HepG2 liver cells. The MASH model was created by exposing these cells to free fatty acids (FFAs) followed by lipopolysaccharide (LPS) to induce inflammation. Cell viability was assessed with the Water-Soluble Tetrazolium (WST)-1 assay, and lipid accumulation was measured using the Oil Red O (ORO) assay. Additionally, mitochondrial membrane potential was assessed by the tetramethyl rhodamine, methyl ester (TMRE) assay, and inflammation was measured with an Enzyme-Linked Immunosorbent Assay (ELISA). The study synthesized AuNPs from Carpobrotus edulis fruit (CeF) and avocado seed (AvoSE) and AgNPs from Salvia africana-lutea (SAL) using optimized conditions. The MNPs were characterized by UV-Vis spectrophotometry and Dynamic Light Scattering (DLS). The nanoparticles were tested at various concentrations for their impact on the C3A/HepG2-induced MASH model. Among the MNPs tested, AvoSE-AuNPs showed the most promise. They reduced cell proliferation and intracellular lipid content more effectively than CeFE-AuNPs and SAL-AgNPs. Molecular analysis using real-time polymerase chain reaction revealed that AvoSE-AuNPs could potentially reverse MASH effects by reducing the expression of key pro-inflammatory and metabolic genes, including tumor necrosis factor-alpha (TNF-α), Fas cell surface death receptor (FAS), Peroxisome proliferator-activated receptor (PPAR)-α, PPAR-γ, and Sterol regulatory element-binding protein (SREBPF)-1. Further research is needed to confirm the molecular mechanisms behind the effects of these MNPs and to identify the specific phytochemicals responsible for their synthesis and bioactivities.

Keywords: gold nanoparticles, green nanotechnology, metal nanoparticles, obesity

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4155 Correlation between Creatinine Level with Erectile Dysfunction among Diabetics in Temerloh Health Clinic

Authors: Mohammad Zainie Bin Hassan

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Background: Erectile dysfunction (ED) is a complication commonly seen among men with diabetes which can be assessed based upon International Index of Erectile Function (IIEF-5) questionnaire. Creatinine level is a blood test that indicates kidney functionality. Object: To evaluate the association between ED, determined by the IIEF-5scores and Creatinine level in diabetic men attending Temerloh Health Clinic, Pahang, Malaysia.Hence, to identify raising Creatinine level related with ED or not. Methods: All married diabetic patients will be investigated face to face after consented for answering the IIEF-5 questionnaire. Creatinine level will be taken by using standard method.Patients with no sexual partner, refuse to answer the questionnaire, cancer, stroke, heart disease and language barrier will be excluded.Data obtained from IIEF-5 score and Creatinine level will be analyzed by using Pearson correlation. All statistical value determined by p=0.05. ED will be categorized accordingly to IIEF-5 scores: no ED (22-25), mild (17-21), moderate (12-16), severe (8-11) and very severe (1-7). Results: A total of 450 patients were investigated with 385 patients were included (85.6% respondant rate) and 65 patients were excluded in this study with age range from 29 to 85 years old. 7% had no ED, 28% mild ED, 34% moderate ED, 16% severe ED and 15% had very severe ED. There was a significant negative correlation between Creatinine level and IIEF-5 scores (r=-0.218, p <0.001). This result implicated that poor kidney function which indicated by high Creatinine level associated significantly with erectile dysfunction. 93% had ED with a different range of severity which triggers for appropriate aggressive ED management among diabetics. Conclusion: The high level of Creatinine is associated with erectile dysfunction among diabetics in Temerloh Health Clinic.

Keywords: correlation, creatinine level, erectile dysfunction, ED, diabetes

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4154 Dry Modifications of PCL/Chitosan/PCL Tissue Scaffolds

Authors: Ozan Ozkan, Hilal Turkoglu Sasmazel

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Natural polymers are widely used in tissue engineering applications, because of their biocompatibility, biodegradability and solubility in the physiological medium. On the other hand, synthetic polymers are also widely utilized in tissue engineering applications, because they carry no risk of infectious diseases and do not cause immune system reaction. However, the disadvantages of both polymer types block their individual usages as tissue scaffolds efficiently. Therefore, the idea of usage of natural and synthetic polymers together as a single 3D hybrid scaffold which has the advantages of both and the disadvantages of none has been entered to the literature. On the other hand, even though these hybrid structures support the cell adhesion and/or proliferation, various surface modification techniques applied to the surfaces of them to create topographical changes on the surfaces and to obtain reactive functional groups required for the immobilization of biomolecules, especially on the surfaces of synthetic polymers in order to improve cell adhesion and proliferation. In a study presented here, to improve the surface functionality and topography of the layer by layer electrospun 3D poly-epsilon-caprolactone/chitosan/poly-epsilon-caprolactone hybrid tissue scaffolds by using atmospheric pressure plasma method, thus to improve cell adhesion and proliferation of these tissue scaffolds were aimed. The formation/creation of the functional hydroxyl and amine groups and topographical changes on the surfaces of scaffolds were realized by using two different atmospheric pressure plasma systems (nozzle type and dielectric barrier discharge (DBD) type) carried out under different gas medium (air, Ar+O2, Ar+N2). The plasma modification time and distance for the nozzle type plasma system as well as the plasma modification time and the gas flow rate for DBD type plasma system were optimized with monitoring the changes in surface hydrophilicity by using contact angle measurements. The topographical and chemical characterizations of these modified biomaterials’ surfaces were carried out with SEM and ESCA, respectively. The results showed that the atmospheric pressure plasma modifications carried out with both nozzle type plasma and DBD plasma caused topographical and functionality changes on the surfaces of the layer by layer electrospun tissue scaffolds. However, the shelf life studies indicated that the hydrophilicity introduced to the surfaces was mainly because of the functionality changes. Therefore, according to the optimized results, samples treated with nozzle type air plasma modification applied for 9 minutes from a distance of 17 cm and Ar+O2 DBD plasma modification applied for 1 minute under 70 cm3/min O2 flow rate were found to have the highest hydrophilicity compared to pristine samples.

Keywords: biomaterial, chitosan, hybrid, plasma

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4153 The Link between Anthropometry and Fat-Based Obesity Indices in Pediatric Morbid Obesity

Authors: Mustafa M. Donma, Orkide Donma

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Anthropometric measurements are essential for obesity studies. Waist circumference (WC) is the most frequently used measure, and along with hip circumference (HC), it is used in most equations derived for the evaluation of obese individuals. Morbid obesity is the most severe clinical form of obesity, and such individuals may also exhibit some clinical findings leading to metabolic syndrome (MetS). Then, it becomes a requirement to discriminate morbid obese children with (MOMetS+) and without (MOMetS-) MetS. Almost all obesity indices can differentiate obese (OB) children from children with normal body mass index (N-BMI). However, not all of them are capable of making this distinction. A recently introduced anthropometric obesity index, waist circumference + hip circumference/2 ((WC+HC)/2), was confirmed to differ OB children from those with N-BMI, however it has not been tested whether it will find clinical usage for the differential diagnosis of MOMetS+ and MOMetS-. This study was designed to find out the availability of (WC+HC)/2 for the purpose and to compare the possible preponderance of it over some other anthropometric or fat-based obesity indices. Forty-five MOMetS+ and forty-five MOMetS- children were included in the study. Participants have submitted informed consent forms. The study protocol was approved by the Non-interventional Ethics Committee of Tekirdag Namik Kemal University. Anthropometric measurements were performed. Body mass index (BMI), waist-to-hip circumference (W/H), (WC+HC)/2, trunk-to-leg fat ratio (TLFR), trunk-to-appendicular fat ratio (TAFR), trunk fat+leg fat/2 ((trunk+leg fat)/2), diagnostic obesity notation model assessment index-2 (D2I) and fat mass index (FMI) were calculated for both groups. Study data was analyzed statistically, and 0.05 for p value was accepted as the statistical significance degree. Statistically higher BMI, WC, (WC+HC)/2, (trunk+leg fat)/2 values were found in MOMetS+ children than MOMetS- children. No statistically significant difference was detected for W/H, TLFR, TAFR, D2I, and FMI between two groups. The lack of difference between the groups in terms of FMI and D2I pointed out the fact that the recently developed fat-based index; (trunk+leg fat)/2 gives much more valuable information during the evaluation of MOMetS+ and MOMetS- children. Upon evaluation of the correlations, (WC+HC)/2 was strongly correlated with D2I and FMI in both MOMetS+ and MOMetS- groups. Neither D2I nor FMI was correlated with W/H. Strong correlations were calculated between (WC+HC)/2 and (trunk+leg fat)/2 in both MOMetS- (r=0.961; p<0.001) and MOMetS+ (r=0.936; p<0.001) groups. Partial correlations between (WC+HC)/2 and (trunk+leg fat)/2 after controlling the effect of basal metabolic rate were r=0.726; p<0.001 in MOMetS- group and r=0.932; p<0.001 in MOMetS+ group. The correlation in the latter group was higher than the first group. In conclusion, recently developed anthropometric obesity index (WC+HC)/2 and fat-based obesity index (trunk+leg fat)/2 were of preponderance over the previously introduced classical obesity indices such as W/H, D2I and FMI during the differential diagnosis of MOMetS+ and MOMetS- children.

Keywords: children, hip circumference, metabolic syndrome, morbid obesity, waist circumference

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4152 A Robust System for Foot Arch Type Classification from Static Foot Pressure Distribution Data Using Linear Discriminant Analysis

Authors: R. Periyasamy, Deepak Joshi, Sneh Anand

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Foot posture assessment is important to evaluate foot type, causing gait and postural defects in all age groups. Although different methods are used for classification of foot arch type in clinical/research examination, there is no clear approach for selecting the most appropriate measurement system. Therefore, the aim of this study was to develop a system for evaluation of foot type as clinical decision-making aids for diagnosis of flat and normal arch based on the Arch Index (AI) and foot pressure distribution parameter - Power Ratio (PR) data. The accuracy of the system was evaluated for 27 subjects with age ranging from 24 to 65 years. Foot area measurements (hind foot, mid foot, and forefoot) were acquired simultaneously from foot pressure intensity image using portable PedoPowerGraph system and analysis of the image in frequency domain to obtain foot pressure distribution parameter - PR data. From our results, we obtain 100% classification accuracy of normal and flat foot by using the linear discriminant analysis method. We observe there is no misclassification of foot types because of incorporating foot pressure distribution data instead of only arch index (AI). We found that the mid-foot pressure distribution ratio data and arch index (AI) value are well correlated to foot arch type based on visual analysis. Therefore, this paper suggests that the proposed system is accurate and easy to determine foot arch type from arch index (AI), as well as incorporating mid-foot pressure distribution ratio data instead of physical area of contact. Hence, such computational tool based system can help the clinicians for assessment of foot structure and cross-check their diagnosis of flat foot from mid-foot pressure distribution.

Keywords: arch index, computational tool, static foot pressure intensity image, foot pressure distribution, linear discriminant analysis

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4151 Derivation of a Risk-Based Level of Service Index for Surface Street Network Using Reliability Analysis

Authors: Chang-Jen Lan

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Current Level of Service (LOS) index adopted in Highway Capacity Manual (HCM) for signalized intersections on surface streets is based on the intersection average delay. The delay thresholds for defining LOS grades are subjective and is unrelated to critical traffic condition. For example, an intersection delay of 80 sec per vehicle for failing LOS grade F does not necessarily correspond to the intersection capacity. Also, a specific measure of average delay may result from delay minimization, delay equality, or other meaningful optimization criteria. To that end, a reliability version of the intersection critical degree of saturation (v/c) as the LOS index is introduced. Traditionally, the level of saturation at a signalized intersection is defined as the ratio of critical volume sum (per lane) to the average saturation flow (per lane) during all available effective green time within a cycle. The critical sum is the sum of the maximal conflicting movement-pair volumes in northbound-southbound and eastbound/westbound right of ways. In this study, both movement volume and saturation flow are assumed log-normal distributions. Because, when the conditions of central limit theorem obtain, multiplication of the independent, positive random variables tends to result in a log-normal distributed outcome in the limit, the critical degree of saturation is expected to be a log-normal distribution as well. Derivation of the risk index predictive limits is complex due to the maximum and absolute value operators, as well as the ratio of random variables. A fairly accurate functional form for the predictive limit at a user-specified significant level is yielded. The predictive limit is then compared with the designated LOS thresholds for the intersection critical degree of saturation (denoted as X

Keywords: reliability analysis, level of service, intersection critical degree of saturation, risk based index

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4150 Analysis of the Presence of Alkylglycerols by Gas Chromatography in Ostrich Oil

Authors: Luana N. Cardozo, Debora A. S. Coutinho, Fabiola Lagher, Bruno J. G. Silva, Ivonilce Venture, Mainara Tesser, Graciela Venera

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Ostrich oil is used as food in Brazil, and it has been the subject of scientific research because it contains essential fatty acids (Omega 3, 6, 7, and 9), which provide benefits to human health. Alkylglycerols are lipid ethers consisted of a saturated or unsaturated hydrocarbon chain joined by ether-type bonding to one of the glycerol hydroxyls. It is known that supplementation with alkylglycerols can act significantly on the functioning of immune system cells, both in pathological situations and in homeostasis. Objective: Analyze the presence of alkylglycerols in ostrich oil. Methods: The ostrich oil was bought from an industry that manufactures the product for sale as food, located in Mirante da Serra, northern Brazil. The samples were sent for analysis to the chemistry department of the Federal University of Paraná, where they were analyzed by the gas chromatography method. Results: The analysis of the ostrich oil presented alkylglycerols in area 514505154. Comparison, it is possible to observe that shark liver oil contains the area 26190196, and the difference between both is highly significant. Conclusion: The importance of alkylglycerol supplementation for the immune system is known. The analysis of the results made it possible to verify the presence of alkylglycerols in the ostrich oil, which is five times higher than in the shark liver oil, that would be the largest source food, but was surpassed by the ostrich oil until the present time. The present study emphasizes that ostrich oil can be considered a food source of alkylglycerols and may play a promising role in the immune system because it contains such substance, but further studies are needed to prove its performance in the body.

Keywords: ostrich oil, nutritional composition, alkylglycerols, food

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4149 Gradient Index Metalens for WLAN Applications

Authors: Akram Boubakri, Fethi Choubeni, Tan Hoa Vuong, Jacques David

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The control of electromagnetic waves is a key aim of several researches over the past decade. In this regard, Metamaterials have shown a strong ability to manipulate the electromagnetic waves on a subwavelength scales thanks to its unconventional properties that are not available in natural materials such as negative refraction index, super imaging and invisibility cloaking. Metalenses were used to avoid some drawbacks presented by conventional lenses since focusing with conventional lenses suffered from the limited resolution because they were only able to focus the propagating wave component. Nevertheless, Metalenses were able to go beyond the diffraction limit and enhance the resolution not only by collecting the propagating waves but also by restoring the amplitude of evanescent waves that decay rapidly when going far from the source and that contains the finest details of the image. Metasurfaces have many mechanical advantages over three-dimensional metamaterial structures especially the ease of fabrication and a smaller required volume. Those structures have been widely used for antenna performance improvement and to build flat metalenses. In this work, we showed that a well-designed metasurface lens operating at the frequency of 5.9GHz, has efficiently enhanced the radiation characteristics of a patch antenna and can be used for WLAN applications (IEEE 802.11 a). The proposed metasurface lens is built with a geometrically modified unit cells which lead to a change in the response of the lens at different position and allow the control of the wavefront beam of the incident wave thanks to the gradient refractive index.

Keywords: focusing, gradient index, metasurface, metalens, WLAN Applications

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4148 The Impact of Regulatory Changes on the Development of Mobile Medical Apps

Authors: M. McHugh, D. Lillis

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Mobile applications are being used to perform a wide variety of tasks in day-to-day life, ranging from checking email to controlling your home heating. Application developers have recognized the potential to transform a smart device into a medical device, by using a mobile medical application i.e. a mobile phone or a tablet. When initially conceived these mobile medical applications performed basic functions e.g. BMI calculator, accessing reference material etc.; however, increasing complexity offers clinicians and patients a range of functionality. As this complexity and functionality increases, so too does the potential risk associated with using such an application. Examples include any applications that provide the ability to inflate and deflate blood pressure cuffs, as well as applications that use patient-specific parameters and calculate dosage or create a dosage plan for radiation therapy. If an unapproved mobile medical application is marketed by a medical device organization, then they face significant penalties such as receiving an FDA warning letter to cease the prohibited activity, fines and possibility of facing a criminal conviction. Regulatory bodies have finalized guidance intended for mobile application developers to establish if their applications are subject to regulatory scrutiny. However, regulatory controls appear contradictory with the approaches taken by mobile application developers who generally work with short development cycles and very little documentation and as such, there is the potential to stifle further improvements due to these regulations. The research presented as part of this paper details how by adopting development techniques, such as agile software development, mobile medical application developers can meet regulatory requirements whilst still fostering innovation.

Keywords: agile, applications, FDA, medical, mobile, regulations, software engineering, standards

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4147 An Education Profile for Indonesian Youth Development

Authors: Titia Izzati, Pebri Hastuti, Gusti Ayu Arwati

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Based on the program of The Ministry of Youth and Sports of Republic of Indonesia, this study compares the Statistikdata of the educational factors and the number of young people to a survey conducted in the five years, 2009-2013. As a result, significant trends are traced through an era filled with events that deeply affected the lives of young people, such as the peak and the ending of the political issues. Changing values under examination include attitudes toward authority and obligations toward others; social values dealing with attitudes toward the work ethic; marriage, family, and the importance of money in defining the meaning of success; and self-fulfillment. While the largest portion of the sample contains college youth, other people between the ages of 16 and 30 are considered, including high school students, blue collar workers, housewives, and high school dropouts. The report provides an overview and interpretation of the data with the presents the research contrasting the values of the college and non-college youth. In the other hand, the youth education profile data also can be utilized in making arrange the youth development index, especially in educational dimension. In order to the formulation of this youth development index, the basic needs of youth in Indonesia have to be listed as the variables. So that, the indicators of the youth development index are really in accordance withthe actual conditions of Indonesian youth. The indicators are the average number of old-school youth, the rate of youth illiterate people, the numbers of youth who are continuing their studies or who have completed the study in college, the number of youth graduate high school/vocational or college graduates were engaged in the labor fair. The formula for the youth development index is arranged in educational dimension with all actual indicators

Keywords: education, young people, Indonesia, ministry programs, youth index development

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4146 Bioactivities and Phytochemical Studies of Acrocarpus fraxinifolius Bark Wight and Arn

Authors: H. M. El-Rafie, A. H. Abou Zeid, R. S. Mohammed, A. A. Sleem

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Acrocarpus is a genus of flowering plants in the legume family Fabaceae which considered as a large and economically important family. This study aimed to investigate the phytoconstituents of the petroleum ether extract (PEE) of Acrocarpus fraxinofolius bark by Gas chromatography coupled with mass spectrometry (GC/MS) analysis of its fractions (fatty acid and unsaponifiable matter). Concerning this, identification of 52 compounds constituting 97.03 % of the total composition of the unsaponifiable matter fraction. Cycloeucalenol was found to be the major compound representing 32.52% followed by 4a, 14a-dimethyl-A8~24(28)-ergostadien (26.50%) and ß-sitosterol(13.74%), furthermore Gas liquid chromatography (GLC) analysis of the sterol fraction revealed the identification of cholesterol (7.22 %), campesterol (13.30 %), stigmasterol (10.00 %) and β - sitosterol (69.48 %). Meanwhile, the identification of 33 fatty acids representing 90.71% of the total fatty acid constituents. Methyl-9,12-octadecadienoate (40.39%) followed by methyl hexadecanoate (23.64%) were found to be the major compounds. On the other hand, column chromatography and Thin layer chromatography (TLC) fractionation of PEE separate the triterpenoid: 21β-hydroxylup-20(29)-en-3-one and β- amyrin which were structurally identified by spectroscopic analysis (NMR, MS and IR). PEE has been biologically evaluated for 1: management of diabetes in alloxan induced diabetic rats 2: cytotoxic activity against four human tumor cell lines (Cervix carcinoma cell line[HELA], Breast carcinoma cell line [MCF7], Liver carcinoma cell line[HEPG2] and Colon carcinoma cell line[HCT-116] 3: hepatoprotective activity against CCl4-induced hepatotoxicity in rats and the activity was studied by assaying the serum marker enzymes like AST, ALT, and ALP. Concerning this, the anti-diabetic activity exhibited by 100mg of PEE extract was 74.38% relative to metformin (100% potency). It also showed a significant anti-proliferative activity against MCF-7 (IC50= 2.35µg), Hela(IC50=3.85µg) and HEPG-2 (IC50= 9.54µg) compared with Doxorubicin as reference drug. The hepatoprotective activity was evidenced by significant decrease in liver function enzymes, i.e. AST, ALT and ALP by (29.18%, 28.26%, and 34.11%, respectively using silymarin as the reference drug, compared to their concentration levels in an untreated group with liver damage induced by CCl₄. This study was performed for the first time on the bark of this species.

Keywords: Acrocarpus fraxinofolius, antidiabetic, cytotoxic, hepatoprotective

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4145 The Investigation of Effectiveness of Different Concentrations of the Mycotoxin Detoxification Agent Added to Broiler Feed, in the Presence of T-2 Toxin, on Performance, Organ Mass and the Residues T-2 Toxin and His Metabolites in the Broiler Tissues

Authors: Jelena Nedeljković Trailović, Marko Vasiljević, Jog Raj, Hunor Farkaš, Branko Petrujkić, Stamen Radulović, Gorana Popvić

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The experiment was performed on a total of 99 one-day-old broilers of Cob 500 provenance, which were divided into IX equal groups. Broilers of the E-I group were fed 0.25 mg T-2 toxin/kg feed, E-II and E-III groups 0.25 mg T-2 toxin/kg feed with the addition of 1 kg/t and 3 kg/t of the mycotoxin detoxification agent MDA, respectively. The E-IV group received 1 mg of T-2 toxin/kg of feed, and the broilers of E-V and E-VI groups received 1 mg of T-2 toxin/kg of feed with the addition of 1 kg/t and 3 kg/t of the MDA detoxification preparation, respectively. The E-VII group received commercial feed without toxins and additives, the E-VIII and E-IX groups received feed with 1kg/t and 3kg/t of the MDA detoxification preparation. The trial lasted 42 days. Observing the results obtained on the 42nd day of the experiment, we can conclude that the change in the absolute mass of the spleen occurred in the broilers of the E-IV group (1.66±0.14)g, which was statistically significantly lower compared to the broilers of the E-V and E-VI groups (2.58±0.15 and 2.68±0.23)g. Heart mass was significantly statistically lower in broilers of group E-IV (9.1±0.38)g compared to broilers of group E-V and E-VI (12.23±0.5 and 11.43±0.51)g. It can be concluded that the broilers that received 1 kg/t and 3 kg/t of the detoxification preparation had an absolute mass of organs within physiological limits. Broilers of the E-IV group achieved the lowest BM during the experiment (on the 42nd day of the experiment 1879±52.73)g, they were significantly statistically lower than the BW of broilers of all experimental groups. This trend is observed from the beginning to the end of the experiment. The protective effect of the detoxification preparation can be seen in broilers of the E-V group, that had a significantly statistically higher BM on the 42nd day of the experiment (2225±58.81)g compared to broilers of group E-IV. Broilers of E-VIII group (2452±46.71) g, which received commercial feed with the addition of 1 kg/t MDA preparation, had the highest BMI at the end of the experiment. At the end of the trial on the 42nd day, blood samples were collected from broilers of the experimental groups that received T-2 toxin and MR detoxification preparations in different concentrations. Also, liver and breast musculature samples were collected for testing for the presence and content of T-2 toxin, HT-2 toxin, T-2 tetraol and T-2 triol. Due to very rapid elimination from the blood, no remains of T-2 toxin and its metabolites were detected in the blood of broilers of groups E-I to E-VI. In the breast muscles, T-2 toxin residues below LoQ < 0.2 (μg/kg) were detected in all groups that received T-2 toxin in food, the highest value was recorded in the E-IV group (0.122 μg/kg and the lowest in E -VI group 0.096 μg/kg). No T-2 toxin residues were detected in the liver. Remains of HT-2 were detected in the breast muscles and livers of broilers from E-IV, E-V and E-VI groups, LoQ < 1 (μg/kg); for the breast muscles: 0.054, 0.044 and 0.041 μg/kg, and for the liver: 0.473, 0.231 and 0.185 μg/kg. Summing up all the results, a partial protective effect of the detoxification preparation, added to food in the amount of 1kg/t, can be seen.

Keywords: T-2 toxin, bloiler, MDA, mycotoxuns

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4144 Research on the Evaluation of Enterprise-University-Research Cooperation Ability in Hubei Province

Authors: Dongfang Qiu, Yilin Lu

Abstract:

The measurement of enterprise-university-research cooperative efficiency has important meanings in improving the cooperative efficiency, strengthening the effective integration of regional resource, enhancing the ability of regional innovation and promoting the development of regional economy. The paper constructs the DEA method and DEA-Malmquist productivity index method to research the cooperation efficiency of Hubei by making comparisons with other provinces in China. The study found out the index of technology efficiency is 0.52 and the enterprise-university- research cooperative efficiency is Non-DEA efficient. To realize the DEA efficiency of Hubei province, the amount of 1652.596 R&D employees and 638.368 R&D employees’ full time equivalence should be reduced or 137.89 billion yuan of new products’ sales income be increased. Finally, it puts forward policy recommendations on existing problems to strengthen the standings of the cooperation, realize the effective application of the research results, and improve the level of management of enterprise-university-research cooperation efficiency.

Keywords: cooperation ability, DEA method, enterprise-university-research cooperation, Malmquist efficiency index

Procedia PDF Downloads 397
4143 Pavement Maintenance and Rehabilitation Scheduling Using Genetic Algorithm Based Multi Objective Optimization Technique

Authors: Ashwini Gowda K. S, Archana M. R, Anjaneyappa V

Abstract:

This paper presents pavement maintenance and management system (PMMS) to obtain optimum pavement maintenance and rehabilitation strategies and maintenance scheduling for a network using a multi-objective genetic algorithm (MOGA). Optimal pavement maintenance & rehabilitation strategy is to maximize the pavement condition index of the road section in a network with minimum maintenance and rehabilitation cost during the planning period. In this paper, NSGA-II is applied to perform maintenance optimization; this maintenance approach was expected to preserve and improve the existing condition of the highway network in a cost-effective way. The proposed PMMS is applied to a network that assessed pavement based on the pavement condition index (PCI). The minimum and maximum maintenance cost for a planning period of 20 years obtained from the non-dominated solution was found to be 5.190x10¹⁰ ₹ and 4.81x10¹⁰ ₹, respectively.

Keywords: genetic algorithm, maintenance and rehabilitation, optimization technique, pavement condition index

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4142 Association of Transmission Risk Factors Among HCV-infected Bangladeshi Patients With Different Genotypes

Authors: Nahida Sultana

Abstract:

Globally, an estimated 58 million people have chronic hepatitis C virus infection, with about 1.5 million new infections occurring per year. The hepatitis C virus is a blood-borne virus, and most infections occur through exposure to blood from unsafe injection practices, unsafe health care, unscreened blood transfusion, injection drug use, and sexual practices that lead to exposure to blood. Hepatitis C virus (HCV) causes chronic infections that mainly affect the liver leading to liver diseases. This study aimed to determine whether there is any significant association between HCV transmission risk factors in relation to genotypes in HCV-infected Bangladeshi patients. After quantification of HCV viral load, 36 samples were randomly selected for HCV genotyping and risk factor measurement. A greater proportion of genotype 1 (p > 0.05) patients (40%) underwent blood transfusion compared to patients (22.6%) with genotype 3 infections. More genotype 1 patient underwent surgery and invasive procedures (20%), and rather than those with genotype 3 patients (16.1%). The history of IDUs (25.8%) and sexual exposure (3.2%) are only prevalent in genotype 3 patients and absent in patients with genotype 1 (p >0.05). There was no significant statistical difference found in HCV transmission risk factors (blood transfusion, IDUs, Surgery& interventions, sexual transmission) between patients infected with genotypes 1 and 3. In HCV infection, genotype may have no relation to transmission risk factors among Bangladeshi patients.

Keywords: HCV genotype, alanine aminotransferase (ALT), HCV viral load, IDUs

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4141 Measuring the Economic Empowerment of Women Using an Index: An Application to Small-Scale Fisheries and Agriculture in Sebaste, Antique

Authors: Ritchie Ann Dionela, Jorilyn Tabuena

Abstract:

This study measured the economic empowerment of women from small-scale fisheries and agriculture sector of Sebaste, Antique. There were a total of 199 respondents selected using stratified random sampling. The Five Domains of Empowerment (5DE) Index was used in measuring the economic empowerment of study participants. Through this composite index, it was determined how women scored in the five domains of empowerment, namely production, resources, income, leadership, and time. The result of the study shows that women fishers are more economically empowered than women farmers. The two sectors showed high disparity in their scores on input in productive decision; autonomy in production; ownership of assets; control over use of income; group member; speaking in public; workload; and leisure. Group member indicator contributed largely to the disempowered population in both sectors. Although income of women farmers is higher than that of women fishers, the latter are still economically empowered which suggests that economic empowerment is not dependent on income alone. The study recommends that fisheries and agriculture organization for women should be established so that their needs and concerns will be heard and addressed. It is further recommended that government projects focused on enhancing women empowerment should also give importance on other factors such as organization and leisure and not just income to totally promote of women empowerment. Further studies on measuring women’s empowerment using other methods should be pursued to provide more information on women’s well-being.

Keywords: agriculture, composite index, fisheries, women economic empowerment

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4140 Hepatoprotective Effects of Parsley, Basil, and Chicory Aqueous Extracts against Dexamethasone-Induced in Experimental Rats

Authors: Hanan A. Soliman, Mohamed A. El-Desouky, Walaa G. Hozayen, Rasha R. Ahmed, Amal K . Khaliefa

Abstract:

Aim: The objective of this study is to investigate the hypoglycemic, hypolipidemic, and hepatoprotective effects of the aqueous extract of parsley, basil, and chicory whole plant in normal and dexamethasone (Dex) rats. Materials and Methods: 50 female albino rats were used in this study and divided into 5 groups (for each 10). Group (1) fed basal diet and maintained as negative control group. Group (2) received Dex in a dose of (0.1 mg/kg b. wt.). Groups 3, 4, and 5 were treated with Dex along with three different plant extracts of parsley, basil, and chicory (2 g/kg b. wt.), (400 mg/kg b. wt.), and (100 mg/kg b. wt.), respectively. Results: All these groups were treated given three times per week for 8 consecutive weeks. Dex-induced alterations in the levels of serum glucose, triglyceride, cholesterol, low-density lipoprotein-cholesterol levels and cardiovascular indices and serum alanine aminotransferase, aspartate aminotransferase and lactate dehydrogenase activities, liver thiobarbituric acid (TBARS) levels increased, while high-density lipoprotein-cholesterol, total protein, albumin, and liver glutathione (GSH) levels decreased. On the other hand, plant extracts succeeded to modulate these observed abnormalities resulting from Dex as indicated by the reduction of glucose, cholesterol, TBARS, and the pronounced improvement of the investigated biochemical and antioxidant parameters. Conclusions: It was concluded that probably, due to its antioxidant property, parsley, basil, and chicory extracts have hepatoprotective effects in Dex-induced in rats.

Keywords: antioxidants, dexamethasone, hyperglycemia, hyperlipidemia

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4139 Estimation of Subgrade Resilient Modulus from Soil Index Properties

Authors: Magdi M. E. Zumrawi, Mohamed Awad

Abstract:

Determination of Resilient Modulus (MR) is quite important for characterizing materials in pavement design and evaluation. The main focus of this study is to develop a correlation that predict the resilient modulus of subgrade soils from simple and easy measured soil index properties. To achieve this objective, three subgrade soils representing typical Khartoum soils were selected and tested in the laboratory for measuring resilient modulus. Other basic laboratory tests were conducted on the soils to determine their physical properties. Several soil samples were prepared and compacted at different moisture contents and dry densities and then tested using resilient modulus testing machine. Based on experimental results, linear relationship of MR with the consistency factor ‘Fc’ which is a combination of dry density, void ratio and consistency index had been developed. The results revealed that very good linear relationship found between the MR and the consistency factor with a coefficient of linearity (R2) more than 0.9. The consistency factor could be used for the prediction of the MR of compacted subgrade soils with precise and reliable results.

Keywords: Consistency factor, resilient modulus, subgrade soil, properties

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4138 Effects of Gross Domestic Product and International Trade on Logistic Performance: An Effect Observation Trial

Authors: Ibrahim Halil Korkmaz, Eren Özceylan, Cihan Çetinkaya

Abstract:

Logistics function has great potential for increasing sustainable competitive advantage, profitability, productivity, customer satisfaction and decreasing costs in all sectors. The performance of logistics sector, which has such great influence on the overall performance of the economy, attracts more attention of both researchers and sector representatives day by day. The purpose of this study is to determine the effects of research and development expenditures which spent by enterprises operating in the transportation and storage sectors on Turkey’s logistic performance index (LPI). To do so, research and development investment expenditure among the years 2009-2015 of Turkish transportation and storage firms data from the Turkish Statistical Institute and Turkeys country points in the World Bank logistics performance index in the same years data were examined. As the result of the parametric evaluation, it is seen that the research and development expenditures made have a positive effect on the logistic performance of Turkey.

Keywords: logistics performance index, R&D investments, transportation, storage, Turkey

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4137 A Spatial Autocorrelation Analysis of Women’s Mental Health and Walkability Index in Mashhad City, Iran, and Recommendations to Improve It

Authors: Mohammad Rahim Rahnama, Lia Shaddel

Abstract:

Today, along with the development of urbanism, its negative consequences on the health of citizens are emerging. Mental disorders are common in the big cities, while mental health enables individuals to become active citizens. Meanwhile, women have a larger share of mental problems. Depression and anxiety disorders have a higher prevalence rate among women and these disorders affect the health of future generations, too. Therefore, improving women’s mental health through the potentials offered by urban spaces are of paramount importance. The present study aims to first, evaluate the spatial autocorrelation of women’s mental health and walkable spaces and then present solutions, based on the findings, to improve the walkability index. To determine the spatial distribution of women’s mental health in Mashhad, Moran's I was used and 1000 questionnaire were handed out in various sub-districts of Mashhad. Moran's I was calculated to be 0.18 which indicates a cluster distribution pattern. The walkability index was calculated using the four variables pertaining to the length of walkable routes, mixed land use, retail floor area ratio, and household density. To determine spatial autocorrelation of mental health and the walkability index, bivariate Moran’s I was calculated. Moran's I was determined to be 0.37 which shows a direct spatial relationship between variables; 4 clusters in 9 sub-districts of Mashhad were created. In High-Low cluster, there was a negative spatial relationship and hence, to identify factors affecting walkability in urban spaces semi-structures interviews were conducted with 21 women in this cluster. The findings revealed that security is the major factor influencing women’s walking behavior in this cluster. In accordance with the findings, some suggestions are offered to improve the presence of women in this sub-district.

Keywords: Mashhad, spatial autocorrelation, women’s mental health, walkability index

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4136 Measuring Fragmentation Index of Urban Landscape: A Case Study on Kuala Lumpur City

Authors: Shagufta Tazin Shathy, Mohammad Imam Hasan Reza

Abstract:

Fragmentation due to urbanization and agricultural expansion has become the main reason for destruction of forest area and loss of biodiversity particularly in the developing world. At present, the world is experiencing the largest wave of urban growth in human history, and it is estimated that this influx will be mainly taking place in developing world. Therefore, study on urban fragmentation is vital for a sustainable urban development. Landscape fragmentation is one of the most important conservation issues in the last few decades. Habitat fragmentation due to landscape alteration has caused habitat isolation, destruction in ecosystem pattern and processes. Thus, this research analyses the spatial and temporal extent of urban fragmentation using landscape indices in the Kuala Lumpur (KL) – the capital and most populous city in Malaysia. The objective of this study is to examine the urban fragmentation index in KL city. Fragmentation metrics used in the study are: a) Urban landscape ratio (the ratio of urban landscape area and build up area), b) Infill (development that occurred within urbanized open space), and c) Extension (development of exterior open space). After analyzing all three metrics, these are calculated for the combined urban fragmentation index (UFI). In this combined index, all three metrics are given an equal weight. Land cover/ land use maps of the year 1996 and 2005 have been developed from the Landsat TM 30 m resolution satellite image. The year 1996 is taken as a reference year to analyze the changes. The UFI calculated for the year of 1996 and2005 found that the KL city has undergone rapid landscape changes destructing forest ecosystem adversely. Increasing UFI for the year of 1996 compared to 2005 indicates that the developmental activities have been occupying open spaces and fragmenting natural lands and forest. This index can be implemented in other unplanned and rapidly urbanizing Asian cities for example Dhaka and Delhi to calculate the urban fragmentation rate. The findings from the study will help the stakeholders and urban planners for a sustainable urban management planning in this region.

Keywords: GIS, index, sustainable urban management, urbanization

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4135 Effects of Ethanolic Purslane Shoot and Seed Extracts on Doxorubicin-Induced Hepatotoxicity in Albino Rats

Authors: Osama M. Ahmed, Walaa G. Hozayen, Haidy Tamer Abo Sree

Abstract:

Doxorubicin (DOX), an anthracycline antibiotic is a broad-spectrum antineoplastic agent, which is commonly used in the treatment of uterine, ovarian, breast and lung cancers, Hodgkin's disease and soft tissue sarcomas as well as in several other cancer types. The effect of doxorubicin (4 mg/kg b.w.week) without or with oral administration of ethanolic purslane (Portulaca oleracea) shoot (leaves and stems) extract (50 mg/kg b.w. day) or ethanolic purslane seeds extract (50 mg/kg b.w.day) co-treatments for 6 weeks was evaluated in adult male rats. Serum ALT, AST, ALP, GGT, total bilirubin, total protein, and albumin levels were assayed. Lipid peroxidation (indexed by MDA) and antioxidants like hepatic glutathine, glutathione transferase, peroxidase, SOD, and CAT were assessed. There was an increase in serum levels of ALT, AST, ALP, GGT and total bilirubin. In addition, hepatic glutathine, glutathione transferase, peroxidase, SOD, and CAT activities were decreased while lipid peroxidation in the liver was increased. Co-administration of ethanolic purslane and seed extracts successfully improved the adverse changes in the liver functions with an increase in antioxidants activities and reduction of lipid peroxidation. In conclusion, it can be supposed that dietary purslane extract supplementation may provide a cushion for a prolonged therapeutic option against DOX hepatopathy without harmful side effects. However, further clinical studies are required to assess the safety and efficacy of these extract in human beings.

Keywords: doxorubicin, purslane, hepatotoxicity, antioxidants

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4134 Blood Lipid Profile and Liver Lipid Peroxidation in Normal Rat Fed with Different Concentrations of Acacia senegal and Acacia seyal

Authors: Eqbal M. A. Dauqan, A. Aminah

Abstract:

The aim of the present study was to evaluate the blood lipid profile and liver lipid peroxidation in normal rat fed with different concentrations of Acacia senegal and Acacia seyal. Thirty six Sprague Dawley male rats each weighing between 180-200g were randomly divided into two groups. Each group contains eighteen rats and were divided into three groups of 6 rats per group. The rats were fed ad libitum with commercial rat’s feed and tap water containing different concentrations of Acacia senegal and Acacia seyal (3% and 6%) for 4 weeks. The results at 4 weeks showed that there was no significant difference (p≤0.05) in the total cholesterol (TC) and triglycerides (TG) between the control group and treated groups while the results for the high density lipoprotein (HDL-C) showed a significant decrease (P≥0.05) at the 3% and 6% of gum arabic treated groups compared to control group. There was a significant increase (P≥0.05) in low density lipoprotein (LDL-C) with 3% and 6% of gum Arabic (GA) groups compared to the control group. The study indicated that there was no significant (p≤0.05) effect on TC and TG but there was significant effect (P≥0.05) on HDL-C and LDL-C in blood lipid profile of normal rat. The results showed that after 4 weeks of treatment the malondialdehyde (MDA) value in rat fed with 6% of A. seyal group was significantly higher (P≥0.05) than control or other treated groups of A. seyal and A. senegal studied. Thus, the two species of gum arabic did not have beneficial effect on blood lipid profile and lipid peroxidation.

Keywords: Acacia senegal, acacia seyal, lipid profile, lipid peroxidation, malondialdehyde (MDA)

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4133 Graphene Based Electronic Device

Authors: Ali Safari, Pejman Hosseiniun, Iman Rahbari, MohamadReza Kalhor

Abstract:

The semiconductor industry is placing an increased emphasis on emerging materials and devices that may provide improved performance, or provide novel functionality for devices. Recently, graphene, as a true two-dimensional carbon material, has shown fascinating applications in electronics. In this paper detailed discussions are introduced for possible applications of grapheme Transistor in RF and digital devices.

Keywords: graphene, GFET, RF, digital

Procedia PDF Downloads 361
4132 Determination of the Some IGF and IGFBP2 Polymorphisms and Their Association with Growth and Egg Traits in Atak-S Chickens

Authors: Huseyi̇n Das, Bülent Tarim, Sunay Demi̇r, Nurçi̇n Küçükkent, Sevi̇l Cengi̇z, Engi̇n Tülek, Veci̇hi̇ Aksakal

Abstract:

Atak-S laying hens are a high-performance strain obtained by crossing of the Rhode Island Red (RIR) X the Barred Plymouth Rock (BR) and are being produced in the Ankara Poultry Research Institute since 1997. Phenotypic and genetic improving studies are continued for this strain. In this study, 2 from IGF and 1 from IGFBP2, totally 3 different SNP polymorphisms were examined in 200 Atak-S chickens. Genotypes of SNPs were compared using ANOVA to body weight and egg number thorough 32 weeks of age, body weight at sexual maturity, age at sexual maturity and also egg quality traits such as egg shell breaking strength, shell thickness, Haugh unit, albumen index, yolk index, shape index. Only IGF(a) locus was in agreement with Hardy-Weinberg equilibrium, while, the other loci were not. As a result of the performance comparisons to the 3 SNP loci, it was determined that there has a significant association (P<0.05) between only TC genotypes of the IGF(b) locus and body weight at 32 weeks of age, but there was not any association to the other traits.

Keywords: Atak-S, Igf, Igfbp2, single nucleotide polymorphism

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4131 Phylogenetic Diversity and Antibiotic Resistance in Sediments of Aegean Sea

Authors: Ilknur Tuncer, Nihayet Bizsel

Abstract:

The studies in bacterial diversity and antimicrobial resistance in coastal areas are important to understand the variability in the community structures and metabolic activities. In the present study, antimicrobial susceptibility and phylogenetic analysis of bacteria isolated from stations with different depths and influenced by terrestrial and marine fluxes in eastern Aegean Sea were illustrated. 51% of the isolates were found as resistant and 14% showed high MAR index indicating the high-risk sources of contamination in the environment. The resistance and the intermediate levels and high MAR index of the study area were 38–60%, 11–38% and 0–40%, respectively. According to 16S rRNA gene analysis, it was found that the isolates belonged to two phyla Firmicutes and Gammaproteobacteria with the genera Bacillus, Halomonas, Oceanobacillus, Photobacterium, Pseudoalteromonas, Psychrobacter, and Vibrio. 47% of Bacillus strains which were dominant among all isolates were resistant. In addition to phylogenetically diverse bacteria, the variability in resistance, intermediate and high MAR index levels of the study area indicated the effect of geographical differences.

Keywords: bacterial diversity, multiple antibiotic resistance, 16S rRNA genes, Aegean Sea

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4130 Volatility Index, Fear Sentiment and Cross-Section of Stock Returns: Indian Evidence

Authors: Pratap Chandra Pati, Prabina Rajib, Parama Barai

Abstract:

The traditional finance theory neglects the role of sentiment factor in asset pricing. However, the behavioral approach to asset-pricing based on noise trader model and limit to arbitrage includes investor sentiment as a priced risk factor in the assist pricing model. Investor sentiment affects stock more that are vulnerable to speculation, hard to value and risky to arbitrage. It includes small stocks, high volatility stocks, growth stocks, distressed stocks, young stocks and non-dividend-paying stocks. Since the introduction of Chicago Board Options Exchange (CBOE) volatility index (VIX) in 1993, it is used as a measure of future volatility in the stock market and also as a measure of investor sentiment. CBOE VIX index, in particular, is often referred to as the ‘investors’ fear gauge’ by public media and prior literature. The upward spikes in the volatility index are associated with bouts of market turmoil and uncertainty. High levels of the volatility index indicate fear, anxiety and pessimistic expectations of investors about the stock market. On the contrary, low levels of the volatility index reflect confident and optimistic attitude of investors. Based on the above discussions, we investigate whether market-wide fear levels measured volatility index is priced factor in the standard asset pricing model for the Indian stock market. First, we investigate the performance and validity of Fama and French three-factor model and Carhart four-factor model in the Indian stock market. Second, we explore whether India volatility index as a proxy for fearful market-based sentiment indicators affect the cross section of stock returns after controlling for well-established risk factors such as market excess return, size, book-to-market, and momentum. Asset pricing tests are performed using monthly data on CNX 500 index constituent stocks listed on the National stock exchange of India Limited (NSE) over the sample period that extends from January 2008 to March 2017. To examine whether India volatility index, as an indicator of fear sentiment, is a priced risk factor, changes in India VIX is included as an explanatory variable in the Fama-French three-factor model as well as Carhart four-factor model. For the empirical testing, we use three different sets of test portfolios used as the dependent variable in the in asset pricing regressions. The first portfolio set is the 4x4 sorts on the size and B/M ratio. The second portfolio set is the 4x4 sort on the size and sensitivity beta of change in IVIX. The third portfolio set is the 2x3x2 independent triple-sorting on size, B/M and sensitivity beta of change in IVIX. We find evidence that size, value and momentum factors continue to exist in Indian stock market. However, VIX index does not constitute a priced risk factor in the cross-section of returns. The inseparability of volatility and jump risk in the VIX is a possible explanation of the current findings in the study.

Keywords: India VIX, Fama-French model, Carhart four-factor model, asset pricing

Procedia PDF Downloads 254