Search results for: induction period
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 6159

Search results for: induction period

5169 Demographic Characteristics of the Atlas Barbary Sheep in Amassine Nature Reserve, Atlas Range, Morocco: Implications For Conservation and Management

Authors: Hakim Bachiri, Mohammed Znari, Moulay Abdeljalil Ait Baamranne

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Population characteristics of Atlas Barbary sheep (Ammotragus lervia lervia) were investigated 20 years following the 1999 introduction of 10 individuals into the fenced nature reserve of Amassine, High Atlas range, Morocco, for promoting wildlife watching and tourism. Population age-sex structure and density were determined in late winter-early spring during four consecutive years (2016-2019) by direct observation before the dispersal of the herd. In this latter case, the line transect distance sampling was successfully applied. Population size increased from 37 to 62 animals during the four-year study period; the maximal population size being 82 individuals recorded in 2006. An estimated population density ranged from 0.25 to 0.41 Barbary sheep/ha during the study period. The adult sex ratio varied from 91 to 67 per 100 females. The apparent birth rate was 14 to 73/100 females. Juveniles and subadults comprised 27-43% of the population, adult males 26-31% and adult females 29-45%. The survival rate from birth to 1 year of age approximated 35%, for adult males was estimated to average 69%/year. The obtained results would be helpful for developing sustainable population management and habitat restoration plan and assessing the feasibility of potential reintroduction/restocking in other areas of the Atlas range.

Keywords: atlas mountains, barbary sheep, demography, management

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5168 Thymoquinone Prevented the Development of Symptoms in Animal Model of Parkinson’s Disease

Authors: Kambiz Hassanzadeh, Seyedeh Shohreh Ebrahimi, Shahrbanoo Oryan, Arman Rahimmi, Esmael Izadpanah

Abstract:

Parkinson’s disease is one of the most prevalent neurodegenerative diseases which occurs in elderly. There are convincing evidences that oxidative stress has an important role in both the initiation and progression of Parkinson’s disease. Thymoquinone (TQ) is shown to have antioxidant and anti-inflammatory properties in invitro and invivo studies. It is well documented that TQ acts as a free radical scavenger and prevents the cell damage. Therefore this study aimed to evaluate the effect of TQ on motor and non-motor symptoms in animal model of Parkinson’s disease. Male Wistar rats (10-12 months) received rotenone (1mg/kg/day, sc) to induce Parkinson’s disease model. Pretreatment with TQ (7.5 and 15 mg/kg/day, po) was administered one hour before the rotenone injection. Three motor tests (rotarod, rearing and bar tests) and two non-motor tests (forced swimming and elevated plus maze) were performed for behavioral assessment. Our results indicated that TQ significantly ameliorated the rotenone-induced motor dysfunction in rotarod and rearing tests also it could prevent the non-motor dysfunctions in forced swimming and elevated plus maze tests. In conclusion we found that TQ delayed the Parkinson's disease induction by rotenone and this effect might be related to its proved antioxidant effect.

Keywords: Parkinson's disease, thymoquinone, motor and non-motor symptoms, neurodegenerative disease

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5167 Entrepreneurship, Institutional Quality, and Macroeconomic Performance: Evidence from Nigeria

Authors: Cleopatra Oluseye Ibukun

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Following the endogenous growth theory, entrepreneurship has been considered pivotal to economic growth and development, particularly in developing countries like Nigeria. Meanwhile, efforts to reduce unemployment has yielded minimal result with over 36% of youth unemployment and a dwindling economic growth despite the country’s natural and human resource endowment. This study, therefore, investigates the effects of entrepreneurship and institutional quality on economic growth and unemployment in Nigeria over the period 1996 to 2018. The data is obtained from the National Bureau of Statistics (NBS), World Bank’s World Development Indicators (WDI), and the World Bank’s World Governance Indicators (WGI). The study period is guided by the availability of data, and the study employs both descriptive and econometric techniques of analysis (specifically, the Auto-regressive Distributed Lag Approach). This approach is preferable given that the variables are stationary at the first difference, while the bounds test suggests the existence of co-integration among the variables. By implication, an increase in entrepreneurship significantly improves economic growth, and it reduces unemployment in both the short-run and the long-run. Besides, institutional quality proxied by the control of corruption, political stability, and government effectiveness significantly mediates the interaction between entrepreneurship and macroeconomic performance. This study concludes that improved institutional quality enhances the effect of entrepreneurship on economic growth and unemployment in Nigeria, and it recommends an improvement in Nigeria’s institutional quality because it can jeopardise or augment the effect of entrepreneurship on macroeconomic performance.

Keywords: entrepreneurship, institutional quality, unemployment, gross domestic product, Nigeria

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5166 Physical and Chemical Parameters of Lower Ogun River, Ogun State, Nigeria

Authors: F.I. Adeosun, A.A. Idowu, D.O. Odulate,

Abstract:

The aims of carrying out this experiment were to determine the water quality and to investigate if the various human and ecological activities around the river have any effect on the physico-chemical parameters of the river’s resources with a view to effectively utilizing these resources. Water samples were collected from two stations on the surface water of Lower Ogun River Akomoje biweekly for a period of 5 months (January to May, 2011). Results showed that temperature ranged between 24.0-30.7oC, transparency (0.53-1.00 m), depth (1.0-3.88 m), alkalinity (4.5-14.5 mg/l), nitrates (0.235-5.445 mg/l), electrical conductivity (140-190µS/cm), dissolved oxygen (4.12-5.32 mg/l), phosphates (0.02 mg/l-0.7 5 mg/l) and total dissolved solids (70-95).The parameters at the deep end (station A) accounted for the bulk of the highest values; there was however no significant differences between the stations at P˂0.05 with the exception of transparency, depth, total dissolved solids and electrical conductivity. The phosphate value was relatively low which accounted for the low productivity and high transparency. The results obtained from the physico-chemical parameters agreed with the limits set by both national and international bodies for drinking and fish growth. It was however observed that during the period of data collection, catch was low and this could be attributed to low level of primary productivity due to the quality of physico-chemical parameters of the water. It is recommended that the agencies involved in the management of the river should put the right policies in place that will effectively enhance proper exploitation of the water resources. More research should also be carried out on the physico-chemical parameters since this work only studied the water for five months.

Keywords: physical, chemical, parameters, water quality, Ogunriver

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5165 Morphological Transformations and Variations in Architectural Language from Tombs to Mausoleums: From Ottoman Empire to the Turkish Republic

Authors: Uğur Tuztaşi, Mehmet Uysal, Yavuz Arat

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The tomb (grave) structures that have influenced the architectural culture from the Seljuk times to the Ottoman throughout Anatolia are members of a continuing building tradition in terms of monumental expression and styles. This building typology which has religious and cultural permeability in view of spatial traces and structural formations follows the entire trajectory of the respect to death and the deceased from the Seljuks to the Ottomans and also the changing burial traditions epitomised in the form of mausoleums in the Turkish Republic. Although the cultural layers have the same contents with regards to the cult of monument this architectural tradition which evolved from tombs to mausoleums changed in both typological formation and structural size. In short, the tomb tradition with unique examples of architectural functions and typological formations has been encountered from 13th century onwards and continued during the Ottoman period with changes in form and has transformed to mausoleums during the 20th century. This study analyses the process of transformation from complex structures to simple structures and then to monumental graves in terms of architectural expression. Moreover, the study interrogates the architectural language of Anatolian Seljuk tombs to Ottoman tombs and monumental graves built during the republican period in terms of spatial and structural contexts.

Keywords: death and space in Turks, monumental graves, language of architectural style, morphological transformations

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5164 A Multi-Criteria Decision Making Approach for Disassembly-To-Order Systems under Uncertainty

Authors: Ammar Y. Alqahtani

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In order to minimize the negative impact on the environment, it is essential to manage the waste that generated from the premature disposal of end-of-life (EOL) products properly. Consequently, government and international organizations introduced new policies and regulations to minimize the amount of waste being sent to landfills. Moreover, the consumers’ awareness regards environment has forced original equipment manufacturers to consider being more environmentally conscious. Therefore, manufacturers have thought of different ways to deal with waste generated from EOL products viz., remanufacturing, reusing, recycling, or disposing of EOL products. The rate of depletion of virgin natural resources and their dependency on the natural resources can be reduced by manufacturers when EOL products are treated as remanufactured, reused, or recycled, as well as this will cut on the amount of harmful waste sent to landfills. However, disposal of EOL products contributes to the problem and therefore is used as a last option. Number of EOL need to be estimated in order to fulfill the components demand. Then, disassembly process needs to be performed to extract individual components and subassemblies. Smart products, built with sensors embedded and network connectivity to enable the collection and exchange of data, utilize sensors that are implanted into products during production. These sensors are used for remanufacturers to predict an optimal warranty policy and time period that should be offered to customers who purchase remanufactured components and products. Sensor-provided data can help to evaluate the overall condition of a product, as well as the remaining lives of product components, prior to perform a disassembly process. In this paper, a multi-period disassembly-to-order (DTO) model is developed that takes into consideration the different system uncertainties. The DTO model is solved using Nonlinear Programming (NLP) in multiple periods. A DTO system is considered where a variety of EOL products are purchased for disassembly. The model’s main objective is to determine the best combination of EOL products to be purchased from every supplier in each period which maximized the total profit of the system while satisfying the demand. This paper also addressed the impact of sensor embedded products on the cost of warranties. Lastly, this paper presented and analyzed a case study involving various simulation conditions to illustrate the applicability of the model.

Keywords: closed-loop supply chains, environmentally conscious manufacturing, product recovery, reverse logistics

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5163 West Nile Virus Outbreaks in Canada under Expected Climate Conditions

Authors: Jalila Jbilou, Salaheddine El Adlouni, Pierre Gosselin

Abstract:

Background: West Nile virus is increasingly an important public health issue in North America. In Canada, WVN was officially reported in Toronto and Montréal for the first time in 2001. During the last decade, several WNV events have been reported in several Canadian provinces. The main objective of the present study is to update the frequency of the climate conditions favorable to WNV outbreaks in Canada. Method: Statistical frequency analysis has been used to estimate the return period for climate conditions associated with WNV outbreaks for the 1961–2050 period. The best fit is selected through the Akaike Information Criterion, and the parameters are estimated using the maximum likelihood approach. Results: Results show that the climate conditions related to the 2002 event, for Montreal and Toronto, are becoming more frequent. For Saskatoon, the highest DD20 events recorded for the last few decades were observed in 2003 and 2007. The estimated return periods are 30 years and 70 years, respectively. Conclusion: The emergence of WNV was related to extremely high DD values in the summer. However, some exceptions may be related to several factors such as virus persistence, vector migration, and also improved diagnosis and reporting levels. It is clear that such climate conditions have become much more common in the last decade and will likely continue to do so over future decades.

Keywords: West Nile virus, climate, North America, statistical frequency analysis, risk estimation, public health, modeling, scenario, temperature, precipitation

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5162 Zakariya Multaniand and his Role in the Spread of Islam and Suhrawardiyya in the Subcontinent

Authors: Mahdi Momeni

Abstract:

The arrival of Mysticism to the subcontinent can be generally divided into two periods. The first period, was the Sporadic arrival of Sufis whom were traveling to the subcontinent according to the tradition of disquisition and the second period was; when the Sufi dynasties were sending missionaries and caliphs to guide and promote people from different direction to that land. Among the Sufi dynasty that entered to India in the thirteenth century, two dynasties of Chishti and Suhrawardîya were more successful than other Sufi dynasties. And thus they are very important in the spread of Islam and Mysticism to the subcontinent. Suhrawardiyya dynasty was founded by Sheikh Ziauddin Abu Najib Suhrawardi and was developed and spread by his nephew Sheikh Shahabuddin Suhrawardi Abo hafs Omar. Sheikh Shahabuddin sent many Caliphs and missionaries to India. Among these missionaries were People like Sultan Sakhi Sarwar, Seyyed Noureddin Mobarak Ghaznavi, Sheikh Jalal al-din Tabrizi and Sheikh Zakariya Multani. Since Suhrawardiyya doctrine relies on Asceticism and Sharia, so one of the important elements among Suhrawardiyya missionaries was inviting people to Islam. Accordingly Sheikh Shahab Caliphs had a great role in the spread of Islam and Mysticism in different territories, especially India. Such that it can be pointed out is the the role of Sheikh Baha-ud-din Zakariya Multani, the founder of Suhrawardiyya Dynasty in India. Sheikh Zakaria Multani after working in three areas, establishing monasteries, training managers, having numerous trips to different places, participating to social affairs provided the spread of Islam and Mysticism in subcontinent. This paper studies his role and actions in the subcontinent.

Keywords: islam, sufism, Suhrawardiyya, subcontinent, Multan

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5161 Mature Cystic Teratomas of Ovary: A Series of 19 Cases with Rare Malignant Transformation in Three

Authors: Parveen Kundu, Nitika Chawla, Ruchi Agarwal, Swaran Kaur

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Background: Mature cystic teratoma is a benign, most common tumor of the ovary occurring mostly in young and middle-aged females. This study consists of 19 cases of mature cystic teratomas which were received in the Department Of Pathology over a period of two years. There were malignant transformations observed in three cases, which makes it very important for pathologists to thoroughly examine the entire specimen of mature cystic teratomas. Material and Methods: Nineteen reported cases of mature cystic teratomas were received in Deptt. Of Pathology, BPS GMC Khanpur Kalan, Sonepat, over a two-year period from November 2020 to October 2022 and reviewed retrospectively. Data regarding age, size, laterality, gross, morphological features, and surgery performed were retrieved from pathological archives. Results: In our study, the most common age of presentation was the 20-40 year age group. The most common presenting complaint was fullness in the abdomen or abdominal distension. Four out of 19 cases studied cases presented with bilateral ovarian cysts. Tumor size ranged from 6 to 20 cm in diameter. In seven cases, cysts were greater than or equal to 10 cm in diameter. Three cases showed malignant transformation. Conclusion: It is very important to thoroughly examine the contralateral ovary to rule out bilateral presentation. A furthermost thorough examination is advised in tumors of size >10 cm and in tumors with solid areas to rule out any malignant transformation.

Keywords: teratoma, ovary, malignant, transformation

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5160 Assessing the Sheltering Response in the Middle East: Studying Syrian Camps in Jordan

Authors: Lara A. Alshawawreh, R. Sean Smith, John B. Wood

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This study focuses on the sheltering response in the Middle East, specifically through reviewing two Syrian refugee camps in Jordan, involving Zaatari and Azraq. Zaatari camp involved the rapid deployment of tents and shelters over a very short period of time and Azraq was purpose built and pre-planned over a longer period. At present, both camps collectively host more than 133,000 occupants. Field visits were taken to both camps and the main issues and problems in the sheltering response were highlighted through focus group discussions with camp occupants and inspection of shelter habitats. This provided both subjective and objective research data sources. While every case has its own significance and deployment to meet humanitarian needs, there are some common requirements irrespective of geographical region. The results suggest that there is a gap in the suitability of the required habitat needs and what has been provided. It is recommended that the global international response and support could be improved in relation to the habitat form, construction type, layout, function and critically the cultural aspects. Services, health and hygiene are key elements to the shelter habitat provision. The study also identified the amendments to shelters undertaken by the beneficiaries providing insight into their key main requirements. The outcomes from this study could provide an important learning opportunity to develop improved habitat response for future shelters.

Keywords: culture, post-disaster, refugees, shelters

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5159 Change Detection of Vegetative Areas Using Land Use Land Cover of Desertification Vulnerable Areas in Nigeria

Authors: T. Garba, Y. Y. Sabo A. Babanyara, K. G. Ilellah, A. K. Mutari

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This study used the Normalized Difference Vegetation Index (NDVI) and maps compiled from the classification of Landsat TM and Landsat ETM images of 1986 and 1999 respectively and Nigeria sat 1 images of 2007 to quantify changes in land use and land cover in selected areas of Nigeria covering 143,609 hectares that are threatened by the encroaching Sahara desert. The results of this investigation revealed a decrease in natural vegetation over the three time slices (1986, 1999 and 2007) which was characterised by an increase in high positive pixel values from 0.04 in 1986 to 0.22 and 0.32 in 1999 and 2007 respectively and, a decrease in natural vegetation from 74,411.60ha in 1986 to 28,591.93ha and 21,819.19ha in 1999 and 2007 respectively. The same results also revealed a periodic trend in which there was progressive increase in the cultivated area from 60,191.87ha in 1986 to 104,376.07ha in 1999 and a terminal decrease to 88,868.31ha in 2007. These findings point to expansion of vegetated and cultivated areas in in the initial period between 1988 and 1996 and reversal of these increases in the terminal period between 1988 and 1996. The study also revealed progressive expansion of built-up areas from 1, 681.68ha in 1986 to 2,661.82ha in 1999 and to 3,765.35ha in 2007. These results argue for the urgent need to protect and conserve the depleting natural vegetation by adopting sustainable human resource use practices i.e. intensive farming in order to minimize persistent depletion of natural vegetation.

Keywords: changes, classification, desertification, vegetation changes

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5158 New Thromboprophylaxis Regime for Knee Arthroplasties

Authors: H. Noureddine, P. Rao, R. Guru, A. Chandratreya

Abstract:

The nice guidance for elective total knee replacements states that patients should be given mechanical thrombo-prophylaxis, and if no contraindications chemical thromboprophylaxis in the form of Dabigatran etexilate, Rivaroxiban, UFH, LMWH, or Fondaparinux sodium (CG92, 1.5.14, January 2010). In Practice administering oral agents has been the dominant practice as it reduces the nursing needs, and shortens hospital stay and is generally received better by patients. However, there are well documented associated bleeding risks, and their effects are difficult to reverse in case of major bleeding. Our experience with oral factor 10 inhibitors used for thromboprophylaxis was marked with several patients developing complications necessitating return to the theatre for wound washouts. This has led us to try a different protocol for thromboprophylaxis that we applied on our patients undergoing total and unicondylar knee replacements. We applied mechanical thromboprophylaxis in the form of intermittent pneumatic pressure devices, and chemical thromboprophylaxis in the form of a dose of prophylactic LMWH pre-op, then 150 mg of Aspirin to start 24 hours after the surgery and to continue for 6 weeks, alongside GI cover with PPIs or antihistamines. We also administered local anaesthetics intra-operatively in line with the ERAS protocol thus encouraging early mobilization. We have identified a cohort of 133 patients who underwent one of the aforementioned procedures in the same trust, and by the same surgeon, where this protocol was applied and examined their medical notes retrospectively with a mean follow-up period of 14 months, to identify the rate and percentage of patients who had thrombo-embolic events in the post-operative period.

Keywords: aspirin, heparin, knee arthroplasty, thromboprophylaxis

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5157 Cellular Mechanisms Involved in the Radiosensitization of Breast- and Lung Cancer Cells by Agents Targeting Microtubule Dynamics

Authors: Elsie M. Nolte, Annie M. Joubert, Roy Lakier, Maryke Etsebeth, Jolene M. Helena, Marcel Verwey, Laurence Lafanechere, Anne E. Theron

Abstract:

Treatment regimens for breast- and lung cancers may include both radiation- and chemotherapy. Ideally, a pharmaceutical agent which selectively sensitizes cancer cells to gamma (γ)-radiation would allow administration of lower doses of each modality, yielding synergistic anti-cancer benefits and lower metastasis occurrence, in addition to decreasing the side-effect profiles. A range of 2-methoxyestradiol (2-ME) analogues, namely 2-ethyl-3-O-sulphamoyl-estra-1,3,5 (10) 15-tetraene-3-ol-17one (ESE-15-one), 2-ethyl-3-O-sulphamoyl-estra-1,3,5(10),15-tetraen-17-ol (ESE-15-ol) and 2-ethyl-3-O-sulphamoyl-estra-1,3,5(10)16-tetraene (ESE-16) were in silico-designed by our laboratory, with the aim of improving the parent compound’s bioavailability in vivo. The main effect of these compounds is the disruption of microtubule dynamics with a resultant mitotic accumulation and induction of programmed cell death in various cancer cell lines. This in vitro study aimed to determine the cellular responses involved in the radiation sensitization effects of these analogues at low doses in breast- and lung cancer cell lines. The oestrogen receptor positive MCF-7-, oestrogen receptor negative MDA-MB-231- and triple negative BT-20 breast cancer cell lines as well as the A549 lung cancer cell line were used. The minimal compound- and radiation doses able to induce apoptosis were determined using annexin-V and cell cycle progression markers. These doses (cell line dependent) were used to pre-sensitize the cancer cells 24 hours prior to 6 gray (Gy) radiation. Experiments were conducted on samples exposed to the individual- as well as the combination treatment conditions in order to determine whether the combination treatment yielded an additive cell death response. Morphological studies included light-, fluorescence- and transmission electron microscopy. Apoptosis induction was determined by flow cytometry employing annexin V, cell cycle analysis, B-cell lymphoma 2 (Bcl-2) signalling, as well as reactive oxygen species (ROS) production. Clonogenic studies were performed by allowing colony formation for 10 days post radiation. Deoxyribonucleic acid (DNA) damage was quantified via γ-H2AX foci and micronuclei quantification. Amplification of the p53 signalling pathway was determined by western blot. Results indicated that exposing breast- and lung cancer cells to nanomolar concentrations of these analogues 24 hours prior to γ-radiation induced more cell death than the compound- and radiation treatments alone. Hypercondensed chromatin, decreased cell density, a damaged cytoskeleton and an increase in apoptotic body formation were observed in cells exposed to the combination treatment condition. An increased number of cells present in the sub-G1 phase as well as increased annexin-V staining, elevation of ROS formation and decreased Bcl-2 signalling confirmed the additive effect of the combination treatment. In addition, colony formation decreased significantly. p53 signalling pathways were significantly amplified in cells exposed to the analogues 24 hours prior to radiation, as was the amount of DNA damage. In conclusion, our results indicated that pre-treatment of breast- and lung cancer cells with low doses of 2-ME analogues sensitized breast- and lung cancer cells to γ-radiation and induced apoptosis more so than the individual treatments alone. Future studies will focus on the effect of the combination treatment on non-malignant cellular counterparts.

Keywords: cancer, microtubule dynamics, radiation therapy, radiosensitization

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5156 Wear and Mechanical Properties of Nodular Iron Modified with Copper

Authors: J. Ramos, V. Gil, A. F. Torres

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The nodular iron is a material that has shown great advantages respect to other materials (steel and gray iron) in the production of machine elements. The engineering industry, especially automobile, are potential users of this material. As it is known, the alloying elements modify the properties of steels and castings. Copper has been investigated as a structural modifier of nodular iron, but studies of its mechanical and tribological implications still need to be addressed for industrial use. With the aim of improving the mechanical properties of nodular iron, alloying elements (Mn, Si, and Cu) are added in order to increase their pearlite (or ferrite) structure according to the percentage of the alloying element. In this research (using induction furnace process) nodular iron with three different percentages of copper (residual, 0,5% and 1,2%) was obtained. Chemical analysis was performed by optical emission spectrometry and microstructures were characterized by Optical Microscopy (ASTM E3) and Scanning Electron Microscopy (SEM). The study of mechanical behavior was carried out in a mechanical test machine (ASTM E8) and a Pin on disk tribometer (ASTM G99) was used to assess wear resistance. It is observed that copper increases the pearlite structure improving the wear behavior; tension behavior. This improvement is observed in higher proportion with 0,5% due to the fact that too much increase of pearlite leads to ductility loss.

Keywords: copper, mechanical properties, nodular iron, pearlite structure, wear

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5155 Comparison of Two Strategies in Thoracoscopic Ablation of Atrial Fibrillation

Authors: Alexander Zotov, Ilkin Osmanov, Emil Sakharov, Oleg Shelest, Aleksander Troitskiy, Robert Khabazov

Abstract:

Objective: Thoracoscopic surgical ablation of atrial fibrillation (AF) includes two technologies in performing of operation. 1st strategy used is the AtriCure device (bipolar, nonirrigated, non clamping), 2nd strategy is- the Medtronic device (bipolar, irrigated, clamping). The study presents a comparative analysis of clinical outcomes of two strategies in thoracoscopic ablation of AF using AtriCure vs. Medtronic devices. Methods: In 2 center study, 123 patients underwent thoracoscopic ablation of AF for the period from 2016 to 2020. Patients were divided into two groups. The first group is represented by patients who applied the AtriCure device (N=63), and the second group is - the Medtronic device (N=60), respectively. Patients were comparable in age, gender, and initial severity of the condition. Among the patients, in group 1 were 65% males with a median age of 57 years, while in group 2 – 75% and 60 years, respectively. Group 1 included patients with paroxysmal form -14,3%, persistent form - 68,3%, long-standing persistent form – 17,5%, group 2 – 13,3%, 13,3% and 73,3% respectively. Median ejection fraction and indexed left atrial volume amounted in group 1 – 63% and 40,6 ml/m2, in group 2 - 56% and 40,5 ml/m2. In addition, group 1 consisted of 39,7% patients with chronic heart failure (NYHA Class II) and 4,8% with chronic heart failure (NYHA Class III), when in group 2 – 45% and 6,7%, respectively. Follow-up consisted of laboratory tests, chest Х-ray, ECG, 24-hour Holter monitor, and cardiopulmonary exercise test. Duration of freedom from AF, distant mortality rate, and prevalence of cerebrovascular events were compared between the two groups. Results: Exit block was achieved in all patients. According to the Clavien-Dindo classification of surgical complications fraction of adverse events was 14,3% and 16,7% (1st group and 2nd group, respectively). Mean follow-up period in the 1st group was 50,4 (31,8; 64,8) months, in 2nd group - 30,5 (14,1; 37,5) months (P=0,0001). In group 1 - total freedom of AF was in 73,3% of patients, among which 25% had additional antiarrhythmic drugs (AADs) therapy or catheter ablation (CA), in group 2 – 90% and 18,3%, respectively (for total freedom of AF P<0,02). At follow-up, the distant mortality rate in the 1st group was – 4,8%, and in the 2nd – no fatal events. Prevalence of cerebrovascular events was higher in the 1st group than in the 2nd (6,7% vs. 1,7% respectively). Conclusions: Despite the relatively shorter follow-up of the 2nd group in the study, applying the strategy using the Medtronic device showed quite encouraging results. Further research is needed to evaluate the effectiveness of this strategy in the long-term period.

Keywords: atrial fibrillation, clamping, ablation, thoracoscopic surgery

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5154 Hydro-Chemical Characterization of Glacial Melt Waters Draining from Shaune Garang Glacier, Himachal Himalaya

Authors: Ramesh Kumar, Rajesh Kumar, Shaktiman Singh, Atar Singh, Anshuman Bhardwaj, Ravindra Kumar Sinha, Anupma Kumari

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A detailed study of the ion chemistry of the Shaune Garnag glacier meltwater has been carried out to assess the role of active glacier in the chemical denudation rate. The chemical compositions of various ions in meltwater of the Shaune Garang glacier were analyzed during the melting period 2015 and 2016. Total 112 of melt water samples twice in a day were collected during ablation season of 2015 and 2016. To identify various factors controlling the dissolved ionic strength of Shaune Garang Glacier meltwater statistical analysis such as correlation matrix, Principle Component Analysis (PCA) and factor analysis were applied to deduce the result. Cation concentration for Ca²⁺ > Mg²⁺ > Na⁺ > K⁺ in the meltwater for both the years can be arranged in the order as Ca²⁺ > Mg²⁺ > Na⁺ > K⁺. Study showed that Ca²⁺ and HCO₃⁻ found to be dominant on the both melting period. Carbonate weathering identified as the dominant process controlling the dissolved ion chemistry of meltwater due to the high ratios of (Ca²⁺ + Mg²⁺) versus TZ+ and (Ca²⁺ + Mg²⁺) versus (Na⁺ + K⁺) in the study area. The cation denudation rate of the Shaune Garnag catchment is 3412.2 m⁻² a⁻¹, i.e. higher than the other glacierised catchment in the Himalaya, indicating intense chemical erosion in this catchment.

Keywords: Shaune Garang glacier, Hydrochemistry, chemical composition, cation denudation rate, carbonate weathering

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5153 Pricing, Production and Inventory Policies Manufacturing under Stochastic Demand and Continuous Prices

Authors: Masoud Rabbani, Majede Smizadeh, Hamed Farrokhi-Asl

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We study jointly determining prices and production in a multiple period horizon under a general non-stationary stochastic demand with continuous prices. In some periods we need to increase capacity of production to satisfy demand. This paper presents a model to aid multi-period production capacity planning by quantifying the trade-off between product quality and production cost. The product quality is estimated as the statistical variation from the target performances obtained from the output tolerances of the production machines that manufacture the components. We consider different tolerance for different machines that use to increase capacity. The production cost is estimated as the total cost of owning and operating a production facility during the planning horizon.so capacity planning has cost that impact on price. Pricing products often turns out to be difficult to measure them because customers have a reservation price to pay that impact on price and demand. We decide to determine prices and production for periods after enhance capacity and consider reservation price to determine price. First we use an algorithm base on fuzzy set of the optimal objective function values to determine capacity planning by determine maximize interval from upper bound in minimum objectives and define weight for objectives. Then we try to determine inventory and pricing policies. We can use a lemma to solve a problem in MATLAB and find exact answer.

Keywords: price policy, inventory policy, capacity planning, product quality, epsilon -constraint

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5152 Extrapulmonary Gastrointestinal Small Cell Carcinoma: A Single Institute Experience of 14 Patients from a Low Middle Income Country

Authors: Awais Naeem, Osama Shakeel, Faizan Ullah, Abdul Wahid Anwer

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Introduction: To study the clinic-pathological factors, diagnostic factors and survival of extra-pulmonary small cell carcinoma. Methodology: From 1995 to 2017 all patients with a diagnosis of extra-pulmonary small cell carcinoma were included in the study. Demographic variables and clinic-pathological factors were collected. Management of disease was recorded. Short and long term oncological outcomes were recorded. All data was entered and analyzed in SPSS version 21. Results: A total of 14 patients were included in the study. Median age was 53.42 +/- 16.1 years. There were 5 male and 9 female patients. Most common presentation was dysphagia in 16 patient among esophageal small cell carcinoma and while other patient had pain in abdomen. Mean duration of symptoms was 4.23+/-2.91 months .Most common site is esophagus (n=6) followed by gall bladder(n=3). Almost all of the patients received chemo-radiotherapy. Majority of the patient presented with extensive disease. Five patients (35.7%) died during the follow up period, two (14.3%) were alive and rest of the patients were lost to follow up. Mean follow up period was 22.92 months and median follow up was 15 months. Conclusion: Extra-pulmonary small cell carcinoma is rare and needs to be managed aggressively. All patients should be treated with both systemic and local therapies.

Keywords: small cell carcinoma of esophagus, extrapulmonary small cell carcinoma, small cell carcinoma of gall bladder, small cell carcinoma of rectum, small cell carcinoma of stomach

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5151 Life Table and Functional Response of Scolothrips takahashii (Thysanoptera: Thripidae) on Tetranychus urticae (Acari:Tetranychidae)

Authors: Kuang-Chi Pan, Shu-Jen Tuan

Abstract:

Scolothrips takahashii Priesner (Thysanoptera: Thripidae) is a common predatory thrips which feeds on spider mites; it is considered an important natural enemy and a potential biological control agent against spider mites. In order to evaluate the efficacy of S. takahashii against tetranychid mites, life table and functional response study were conducted at 25±1°C, with Tetranychus urticae Priesner as prey. The intrinsic rate of increase (r), finite rate of increase (λ), net reproduction rate (R₀), mean generation time (T) were 0.1674 d⁻¹, 1.1822d⁻¹, 62.26 offspring/individual, and 24.68d. The net consumption rate (C₀) was 846.15, mean daily consumption rate was 51.92 eggs for females and 19.28 eggs for males. S. takahashii exhibited type III functional response when offered T. urticae deutonymphs. Based on the random predator equation, the estimated maximum attack rate (a) and handling time (Th) were 0.1376h⁻¹ and 0.7883h. In addition, a life table experiment was conducted to evaluate the offspring sex allocation and population dynamic of Tetranychus ludeni Zacher under group-rearing conditions with different sex ratios. All bisexual groups produced offspring with similar sex allocation patterns, which started with the majority of females, then transited during the middle of the oviposition period and turned male-biased at the end of the oviposition period.

Keywords: Scolothrips takahashii, Tetranychus urticae, Tetranychus ludeni, two-sex life table, functional response, sex allocation

Procedia PDF Downloads 71
5150 Pro-Ecological Antioxidants for Polymeric Composites

Authors: Masek A., Zaborski M.

Abstract:

In our studies, we propose the use of natural, pro-ecological substances such as polyphenols to protect polymers against ageing. In our studies, we plan to focus on the following compounds: polyphenols, gallic acid esters, flavonoides, carotenoids, curcumin and its derivatives, vitamin A, tocochromanoles, betalain. Phyto-compounds will be selected on the basis of available literature and our preliminary studies. So, we will select compounds with various contents of hydroxyl groups and colored substances capable of participating in color oxidation processes. The natural antioxidants which were added to ethylene-octene elastomer (polyolefin elastomer-Engage) and ethylene-nonbornene (TOPAS). Composites were then subjected to numerous ageing: weathering (climat of Floryda), UV (0,7 W/m2), thermo-oxidation ageing (1000C/10days) and thermal-shock (-600C/+1000C) as a function of the aging time. The efficiency of used anti-ageing agents was checked on the base of the changes after the degradation in deformation energy (tensile strength and elongation at the break), cross-link density, color (parameters L,a,b) and values of carbonyl index (based on the spectrum of infra red spectroscopy), OIT (induction oxygen time as performed in using differential scanning calorimeter -DSC) of the vulcanizates. Therefore polyphenols are considered to be the best stabilisers for polymeric composites against to oxidation processes.

Keywords: polymers, flavonoids, stabilization, ageing, oxidation

Procedia PDF Downloads 286
5149 Gas Network Noncooperative Game

Authors: Teresa Azevedo PerdicoúLis, Paulo Lopes Dos Santos

Abstract:

The conceptualisation of the problem of network optimisation as a noncooperative game sets up a holistic interactive approach that brings together different network features (e.g., com-pressor stations, sources, and pipelines, in the gas context) where the optimisation objectives are different, and a single optimisation procedure becomes possible without having to feed results from diverse software packages into each other. A mathematical model of this type, where independent entities take action, offers the ideal modularity and subsequent problem decomposition in view to design a decentralised algorithm to optimise the operation and management of the network. In a game framework, compressor stations and sources are under-stood as players which communicate through network connectivity constraints–the pipeline model. That is, in a scheme similar to tatonnementˆ, the players appoint their best settings and then interact to check for network feasibility. The devolved degree of network unfeasibility informs the players about the ’quality’ of their settings, and this two-phase iterative scheme is repeated until a global optimum is obtained. Due to network transients, its optimisation needs to be assessed at different points of the control interval. For this reason, the proposed approach to optimisation has two stages: (i) the first stage computes along the period of optimisation in order to fulfil the requirement just mentioned; (ii) the second stage is initialised with the solution found by the problem computed at the first stage, and computes in the end of the period of optimisation to rectify the solution found at the first stage. The liability of the proposed scheme is proven correct on an abstract prototype and three example networks.

Keywords: connectivity matrix, gas network optimisation, large-scale, noncooperative game, system decomposition

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5148 Breast Cancer Incidence Estimation in Castilla-La Mancha (CLM) from Mortality and Survival Data

Authors: C. Romero, R. Ortega, P. Sánchez-Camacho, P. Aguilar, V. Segur, J. Ruiz, G. Gutiérrez

Abstract:

Introduction: Breast cancer is a leading cause of death in CLM. (2.8% of all deaths in women and 13,8% of deaths from tumors in womens). It is the most tumor incidence in CLM region with 26.1% from all tumours, except nonmelanoma skin (Cancer Incidence in Five Continents, Volume X, IARC). Cancer registries are a good information source to estimate cancer incidence, however the data are usually available with a lag which makes difficult their use for health managers. By contrast, mortality and survival statistics have less delay. In order to serve for resource planning and responding to this problem, a method is presented to estimate the incidence of mortality and survival data. Objectives: To estimate the incidence of breast cancer by age group in CLM in the period 1991-2013. Comparing the data obtained from the model with current incidence data. Sources: Annual number of women by single ages (National Statistics Institute). Annual number of deaths by all causes and breast cancer. (Mortality Registry CLM). The Breast cancer relative survival probability. (EUROCARE, Spanish registries data). Methods: A Weibull Parametric survival model from EUROCARE data is obtained. From the model of survival, the population and population data, Mortality and Incidence Analysis MODel (MIAMOD) regression model is obtained to estimate the incidence of cancer by age (1991-2013). Results: The resulting model is: Ix,t = Logit [const + age1*x + age2*x2 + coh1*(t – x) + coh2*(t-x)2] Where: Ix,t is the incidence at age x in the period (year) t; the value of the parameter estimates is: const (constant term in the model) = -7.03; age1 = 3.31; age2 = -1.10; coh1 = 0.61 and coh2 = -0.12. It is estimated that in 1991 were diagnosed in CLM 662 cases of breast cancer (81.51 per 100,000 women). An estimated 1,152 cases (112.41 per 100,000 women) were diagnosed in 2013, representing an increase of 40.7% in gross incidence rate (1.9% per year). The annual average increases in incidence by age were: 2.07% in women aged 25-44 years, 1.01% (45-54 years), 1.11% (55-64 years) and 1.24% (65-74 years). Cancer registries in Spain that send data to IARC declared 2003-2007 the average annual incidence rate of 98.6 cases per 100,000 women. Our model can obtain an incidence of 100.7 cases per 100,000 women. Conclusions: A sharp and steady increase in the incidence of breast cancer in the period 1991-2013 is observed. The increase was seen in all age groups considered, although it seems more pronounced in young women (25-44 years). With this method you can get a good estimation of the incidence.

Keywords: breast cancer, incidence, cancer registries, castilla-la mancha

Procedia PDF Downloads 295
5147 Effects of β-Glucan on the Release of Nitric Oxide by RAW264.7 Cells Stimulated with Escherichia coli Lipopolysaccharide

Authors: Eun Young Choi, So Hui Choe, Jin Yi Hyeon, Ji Young Jin, Bo Ram Keum, Jong Min Lim, Hyung Rae Cho, Kwang Keun Cho, In Soon Choi

Abstract:

This research analyzed the effect of β-glucan that is expected to alleviate the production of inflammatory mediator in macrophagocyte, which was processed by the lipopolysaccharide (LPS) of Escherichia, a pathogen related to allergy. The incubated layer was used for nitric oxide (NO) analysis. The DNA-binding activation of the small unit of NF-κB was measured using ELISA-based kit. In RAW264.7 cells that were vitalized by E.coli LPS, β-glucan inhibited both the combatant and rendering phases of inducible NO synthase (iNOS)-derived NO. β-glucan increased the expression of heme oxygenase-1 (HO-1) in the cell that was stimulated by E.coli LPS, and HO-1 activation was inhibited by SnPP. This shows that NO production induced by LPS is related to the inhibition effect of β-glucan. The phosphorylation of JNK and p38 induced by LPS were not influenced by β-glucan, and IκB-α decomposition was not influenced either. Instead, β-glucan remarkably inhibited the phosphorylation of STAT1 that was induced by E.coli LPS. Overall, β-glucan inhibited the production of NO in macrophagocyte that was vitalized by E.coli LPS through HO-1 induction and STAT1 pathways inhibition in this research. As the host inflammation reaction control by β-glucan weakens the progress of allergy, β-glucan can be used as an effective treatment method.

Keywords: β-glucan, lipopolysaccharide (LPS), nitric oxide (NO), RAW264.7 cells, STAT1

Procedia PDF Downloads 393
5146 Sub-Lethal Effects of Thiamethoxam and Pirimicarb on Life-Table Parameters of Diaeretiella rapae (Hymenoptera: Braconidae), Parasitoid of Lipaphis erysimi (Hemiptera: Aphididae)

Authors: Nastaran Rezaei, Mohammad Saeed Mossadegh, Farhan Kocheyli, Khalil Talebi Jahromi, Aurang Kavousi

Abstract:

Integrated Pest Management (IPM) aims to combine biological and chemical strategies and measures, hence highlighting the study of acute toxicity and sub-lethal effects of pesticides comprehensively. The present research focused on the side effects of thiamethoxam and pirimicarb sub-lethal concentrations on demographic parameters of Diaeretiella rapae (McIntosh Laboratory) (Hymenoptera: Braconidae). Adult parasitoids were exposed to LC25 of insecticides as well as distilled water as the control. The results showed that thiamethoxam adversely affected population parameters (r, λ, R0, T), adults' longevity, females' oviposition period and mean fecundity, and a similar trend was obtained for pirimicarb with the exception of generation time (T), the latter did not significantly change compared to the control. The intrinsic rate of increase (r) in the control and those treated with pirimicarb and thiamethoxam were 0.2801, 0.2064, 0.1525 days-1, respectively, and the sex ratio was biased toward females in all treatments. Furthermore, none of the insecticides influenced total pre-oviposition period (TPOP) and offspring emergence rate. In general, these results indicated that both insecticides potentially distort the demographic parameters of the parasitoid even at sub-lethal concentrations, and then they should not be considered for IPM program in the presence of D. rapae.

Keywords: Diaeretiella rapae, Lipaphis erysimi, life-table study, pirimicarb, thiamethoxam

Procedia PDF Downloads 169
5145 Measuring Banking Systemic Risk Conditional Value-At-Risk and Conditional Coherent Expected Shortfall in Taiwan Using Vector Quantile GARCH Model

Authors: Ender Su, Kai Wen Wong, I-Ling Ju, Ya-Ling Wang

Abstract:

In this study, the systemic risk change of Taiwan’s banking sector is analyzed during the financial crisis. The risk expose of each financial institutions to the whole Taiwan banking systemic risk or vice versa under financial distress are measured by conditional Value-at-Risk (CoVaR) and conditional coherent expected shortfall (CoES). The CoVaR and CoES are estimated by using vector quantile autoregression (MVMQ-CaViaR) with the daily stock returns of each banks included domestic and foreign banks in Taiwan. The daily in-sample data covered the period from 05/20/2002 to 07/31/2007 and the out-of-sample period until 12/31/2013 spanning the 2008 U.S. subprime crisis, 2010 Greek debt crisis, and post risk duration. All banks in Taiwan are categorised into several groups according to their size of market capital, leverage and domestic/foreign to find out what the extent of changes of the systemic risk as the risk changes between the individuals in the bank groups and vice versa. The final results can provide a guidance to financial supervisory commission of Taiwan to gauge the downside risk in the system of financial institutions and determine the minimum capital requirement hold by financial institutions due to the sensibility changes in CoVaR and CoES of each banks.

Keywords: bank financial distress, vector quantile autoregression, CoVaR, CoES

Procedia PDF Downloads 362
5144 Evaluating Health-Related Quality of Life of Lost to Follow-Up Tuberculosis Patients in Yemen

Authors: Ammar Ali Saleh Jaber, Amer Hayat Khan, Syed Azhar Syed Sulaiman

Abstract:

Tuberculosis (TB) is considered as a major disease that affects daily activities and impairs health-related quality of life (HRQoL). The impact of TB on HRQoL can affect treatment outcome and may lead to treatment defaulting. Therefore, this study aims to evaluate the HRQoL of TB treatment lost to follow-up during and after treatment in Yemen. For this aim, this prospective study enrolled a total of 399 TB lost to follow-up patients between January 2011 and December 2015. By applying HRQoL criteria, only 136 fill the survey during treatment. Moreover, 96 were traced and fill out the HRQoL survey. All eight HRQol domains were categorized into the physical component score (PCS) and mental component score (MCS), which were calculated using QM scoring software. Results show that all lost to follow-up TB patients reported a score less than 47 for all eight domains, except general health (67.3) during their treatment period. Low scores of 27.9 and 29.8 were reported for emotional role limitation (RE) and mental health (MH), respectively. Moreover, the mental component score (MCS) was found to be only 28.9. The trace lost follow-up shows a significant improvement in all eight domains and a mental component score of 43.1. The low scores of 27.9 and 29.8 for role emotion and mental health, respectively, in addition to the MCS score of 28.9, show that severe emotional condition and reflect the higher depression during treatment period that can result to lost to follow-up. The low MH, RE, and MCS can be used as a clue for predicting future TB treatment lost to follow-up.

Keywords: Yemen, tuberculosis, health-related quality of life, Khat

Procedia PDF Downloads 159
5143 Determination of Burnout Levels and Associated Factors of Teachers Working During the COVID-19 Pandemic Period

Authors: Kemal Kehan, Emine Aktas Bajalan

Abstract:

This study was carried out to determine the burnout levels and related factors of teachers working in primary schools affiliated to the Turkish Republic of Northern Cyprus (TRNC) Ministry of National Education during the COVID-19 pandemic period. The research was conducted in descriptive cross-sectional design. The population of the research consists of 1071 teachers working in 93 primary schools in 6 central districts affiliated to the TRNC Ministry of National Education in the 2021-2022 academic year. When the sample size of the study was calculated by power analysis, it was determined that 202 teachers should be reached with 95% confidence (1-α), 95% test power (1-β) and d=0.5 effect size. Within the scope of the inclusion criteria of the research, the main sample of the study consisted of 300 teachers and the baist random sampling method was used. The data were collected using the Sociodemographic Data Form consisting of 34 questions, including the sociodemographic characteristics of the teachers and the 22-item Maslach Burnout Scale (MBS). The analysis of the data was carried out using descriptive and correlational analyzes in the SPSS 22 package program. In the study, it was determined that 65% of the teachers were women, 68% were married, 84% had a bachelor's degree, 70.33% had children, and 67.67% were dependents. Regarding how teachers evaluate the COVID-19 pandemic period; 90% of them said, “I am worried about my family's health and the risk of infection”, 80% of them, “I feel that my profession does not get the value it deserves”, 75.67% of them mentioned “My hopes for the future have started to wane”, 75.33% of them say “I am worried about my own health”. It was determined that they gave the answer of, “I am worried about the issue”. It was found that the teachers' MBS total score average was 48.63±8.01, the burnout level was moderate, and the average score they got from the sub-dimensions of the scale was also moderate. It has been found that there are negative correlations between the professional satisfaction scores of the teachers during and before the COVID-19 pandemic and the scores they received from the general and sub-dimensions of MBS. It was determined that there was a statistically significant difference (p<0.05) between the scores of teachers diagnosed with COVID-19 from the scale and its sub-dimensions. As a result, it is suggested that social activities should be increased and professional development and promotion opportunities should be offered in order to ensure that teachers are satisfied with their work areas, to reduce their burnout levels or to prevent them completely.

Keywords: teachers, burnout, maslach burnout scale, pandemic, online education

Procedia PDF Downloads 48
5142 Transient Analysis and Mitigation of Capacitor Bank Switching on a Standalone Wind Farm

Authors: Ajibola O. Akinrinde, Andrew Swanson, Remy Tiako

Abstract:

There exist significant losses on transmission lines due to distance, as power generating stations could be located far from some isolated settlements. Standalone wind farms could be a good choice of alternative power generation for such settlements that are far from the grid due to factors of long distance or socio-economic problems. However, uncompensated wind farms consume reactive power since wind turbines are induction generators. Therefore, capacitor banks are used to compensate reactive power, which in turn improves the voltage profile of the network. Although capacitor banks help improving voltage profile, they also undergo switching actions due to its compensating response to the variation of various types of load at the consumer’s end. These switching activities could cause transient overvoltage on the network, jeopardizing the end-life of other equipment on the system. In this paper, the overvoltage caused by these switching activities is investigated using the IEEE bus 14-network to represent a standalone wind farm, and the simulation is done using ATP/EMTP software. Scenarios involving the use of pre-insertion resistor and pre-insertion inductor, as well as controlled switching was also carried out in order to decide the best mitigation option to reduce the overvoltage.

Keywords: capacitor banks, IEEE bus 14-network, pre-insertion resistor, standalone wind farm

Procedia PDF Downloads 428
5141 Bilateral Relations in Matter of Defense between Argentina-United States and Argentina-China along the Period 2005-2015: Advice to Develop a Rational Defense Foreign Policy for Peripheral Countries

Authors: Alvarez Magañini, María Victoria-Rubbi, Lautaro Nahuel

Abstract:

At present, we are facing an unstable international context, conditioned by a relative decline of the US power, primarily in the economic sphere and, to a lesser extent, in the military sphere. This scenario of multipolarity creates tension and uncertainty in the peripheral countries when the issue of their foreign policy arises. This paper presents an analysis of the bilateral relations that were maintained by the Argentine Republic, a peripheral country, along with the United States and China during the period of 2005-2015 in matters of defense in order to identify the empirical consequences resulted from the Argentine actions. Based on the conceptual framework of Peripheral Realism, we analyze indicators related to the weapon trade, defense loans, joint exercises, and personnel training, among others. There will also be a comparative analysis of the conventional military forces of the two powers in question, United States and China. As a conclusion, the cost of having closer relations with China instead of the United States in the defense agenda has been clearly higher than the benefits obtained. The conclusions drawn are empirically aligned with the theoretical paradigm of peripheral realism. Although there are certain conceptual and methodological digressions, these conclusions they could be useful to update and adapt the theory to the current complex international scenario.

Keywords: China, United States, Argentine, peripheral country, peripheral realism

Procedia PDF Downloads 361
5140 Forecast Dispersion, Investor Sentiment and the Cross Section of Stock Returns

Authors: Guoyu Lin

Abstract:

This paper explores the role investor sentiment plays in the relationship between analyst forecast dispersion and stock returns. With short sale constraints, stock prices are determined by the optimistic investors. During the high sentiment periods when investors suffer more from psychological bias, there are more optimistic investors. This is the first paper to document that following the high sentiment periods, stocks with the most analyst forecast dispersion are overpriced, earning significantly negative returns, while those with the least analyst forecast dispersion are not overpriced as the degree of belief dispersion is low. However, following the low sentiment periods, both are not overpriced. A portfolio which longs the least dispersed stocks and shorts the most dispersed stocks yields significantly positive returns only following the high sentiment periods. My findings can potentially reconcile the puzzling risk effect and mispricing effect in the literature. The risk (mispricing) effect suggests a positive (negative) relation between analyst forecast dispersion and future stock returns. Presumably, the magnitude of the mispricing effect depends on the proportion of irrational investors and their bias, which is positively related to investor sentiment. During the high sentiment period, the mispricing effect takes over and the overall effect is negative. During the low sentiment period, the percentage of irrational investors is mediate, and the mispricing effect and the risk effect counter each other, leading to insignificant relation.

Keywords: analyst forecast dispersion, short-sale constraints, investor sentiment, stock returns

Procedia PDF Downloads 125