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The effect of sensory integration therapy on upper extremity functions, trunk control and balance in children with cerebral palsy: a single-blind, randomized controlled study
No full textThis study aimed to investigate the effect of Sensory Integration Therapy (SIT) in children with cerebral palsy (CP). Twenty children with CP were randomly assigned to intervention and control groups. Quality of Upper Extremity Skills Test (QUEST), Trunk Control Measurement Scale (TCMS), and Pediatric Balance Scale (PBS) were used in pre-and post-treatment. There was a statistically significant increase in the dissociated movements sub-scale of the QUEST, dynamic reaching sub-scale of the TCMS, and PBS scores in the intervention group. There was a statistically significant increase in both dissociated movements and grasps sub-scale of the QUEST and PBS scores in the control group. In conclusion, SIT applications can be integrated into rehabilitation programs to improve dissociated upper extremity movements, dynamic trunk control, and balance control in children with CP
Combinatorial Analysis of k-Oresme and k-Oresme-Lucas Sequences
No full textIn this study, firstly the definitions and basic algebraic properties of k-Oresme and k-Oresme-Lucas sequences are given. Then, various summation formulae are derived with the help of the first and second derivatives of two polynomials with k-Oresme and k-Oresme-Lucas number coefficients. The main aim of this study is to establish the relations between the generalized Fibonacci and generalized Lucas sequences and the k-Oresme and k-Oresme-Lucas sequences, respectively. These connections allow us to obtain different combinatorial identities of these sequences using the characteristic equation of the k-Oresme and k-Oresme-Lucas sequences. In this way, the discovered combinatorial identities reveal the arithmetic and structural symmetries in the sequences, through the regularities and recurring patterns observed in the algebraic structures of the considered number sequences. The results obtained in this study enable the development of new symmetric approaches in areas such as numerical analysis, cryptography and optimization algorithms, and the algebraic relations derived in this study can contribute to the solution of different problems in disciplines such as mathematical modelling and theoretical physics
Total percutaneous correction of tetralogy of Fallot after previous surgical repair
No full text[Abstract Not Available
Thermoluminescence and kinetic characterization of Sm³?-doped GdCa?O(BO?)? trap distribution, activation energies, and dosimetric potential
No full textSm³?-doped GdCa?O(BO?)? was synthesized and investigated for its thermoluminescence (TL) properties under beta irradiation. The kinetic parameters, including activation energy (Ea), frequency factor, and kinetic order, were determined using the Hoogenstraaten method, initial rise method, and computerized glow curve deconvolution (CGCD). The Tm-Tstop method indicated a combination of discrete and quasi-continuous trap distributions, with a stepwise increase in Ea suggesting thermally stable trapping centers. CGCD revealed nine distinct peaks with activation energies from 1.00 to 2.19 eV, confirming the presence of both shallow and deep traps. The frequency factor values varied, indicating different recombination kinetics across the peaks. Additionally, the material demonstrated high dosimetric stability, reproducibility, and a well-defined dose-response up to 500 Gy. High-dose deconvolution confirmed the formation of deep, thermally stable traps near 325 °C, while TL fading tests demonstrated strong signal retention at high temperatures. These results confirm the material's potential as a TL phosphor for radiation dosimetry. © 2025 Elsevier B.V., All rights reserved.Princess Nourah Bint Abdulrahman University, (PNURSP2025R16); Princess Nourah Bint Abdulrahman Universit
Evaluation of the Efficacy of Proline Rich VPPPVPPRRR Peptide (VPP) in MCF-7 Cells
No full textBreast cancer is one of the most common cancer types worldwide. It can potentially be treated with peptide therapy rather than chemotherapy and radiotherapy due to the adverse effects associated with the current treatments. Peptides are small units of proteins that do not induce an immune response. Purpose Thus, these biomaterials can be used to treat breast cancer for therapeutic approaches. Proline-rich peptides, such as VPP, can regulate cell behaviors, such as cell arrest or apoptosis. However, to our knowledge, there is no evidence that peptides have any effect on MCF-7 breast cancer cells. Methods In this study, we examined the effects of the different concentrations of VPP peptide on the MCF-7 cell line. It was performed the migration, viability, ROS, NO and ATP production and apoptotic gene expression capacity of VPP peptide on MCF-7 breast cancer. Results We observed that 0.01 mM and 1 mM concentrations of the VPP peptide induced cell death. These concentrations also limited cell proliferation, migration, and cellular activity. Additionally, they may trigger oxidative stress in breast cancer cells. Discussions Thus, the peptide could be a promising therapeutic agent for breast cancer cells if used at appropriate concentrations for cancer treatment.Izmir Katip Celebi University, Scientific Research Projects Fund (BAP) [2023-GAP-Biyo-0008]; TUBITAK [1919B012313545]The project was funded by Izmir Katip Celebi University, Scientific Research Projects Fund (BAP) through 2023-GAP-Biyo-0008 and TUBITAK 1919B012313545. The authors thank to Alhamdu Husen Misbah for support and Assoc. Prof. Dr. Nermin Topalo & gbreve;lu Av & scedil;ar for providing ROS and NO assays
YEMEK YEMENİN TIBBİLEŞTİRİLMESİ VE YEME BOZUKLUKLARI
No full textThis study focuses on building a sociological framework for eating conditions which are defined as eating disorders. The prevalence of eating disorders is increasing in different parts of the world where they are observed in different age groups. In the study, based on Foucault's conceptual framework, the concepts of biopower and governmentality- the combination of techniques to manage the self and management of others- are used. In this context, medicalization, which enables social issues to be addressed as matters open to medical intervention, is considered as a technology of governmentality. The historical dimensions of control of eating and food production are assessed in the study in order to isolate the socio-cultural setting in which these medical categories are created. Eating disorders are discussed within the framework of social developments such as globalization, Western and especially US-based nutritional practices and the spread of its understanding of an ideal body throughout the world, the profit-based operation of the food industry, including diet foods and food insecurity. As can be seen in the eating disorder categories based on 'excessive' control of eating (anorexia) or loss of control (binge eating), these conditions can be evaluated in terms of social control of the female body and as areas of governmentality where biopower becomes operational. The presentation of food and eating on social media is also discussed in terms of #foodporn, ASMR and mukbang contents.Bu çalışma yeme bozukluğu olarak tanımlanan ve gün geçtikçe dünyanın farklı yerlerinde görülme sıklığı artan, farklı yaş gruplarında görülür hale gelen yeme durumlarına ilişkin, sosyolojik bir çerçeve sunmaya odaklanmaktadır. Çalışmada Foucault’nun kavramsal çerçevesi temelinde biyoiktidar ve kendini ve başkalarını yönetme tekniklerinin birleşiminde yer alan yönetimsellik kavramları kullanılmaktadır. Sosyal meselelerin tıbbi müdahaleye açık durumlar olarak ele alınmasını sağlayan tıbbileştirme süreci bu bağlamda bir yönetimsellik teknolojisi olarak ele alınmıştır. Günümüzde tıbbi kategoriler olarak ele alınan durumların ortaya çıktığı sosyo-kültürel alanı izole edebilmek adına çalışmada yemenin kontrolünün ve gıda üretiminin tarihsel boyutları değerlendirilmiştir. Yeme bozuklukları, küreselleşme, Batı ve özellikle ABD kaynaklı beslenme pratikleri ve ideal beden anlayışının dünya geneline yayılması, diyet gıdaları da kapsayacak şekilde gıda endüstrisinin kar temelli işleyişi ve gıda güvencesizliği gibi toplumsal gelişmeler temelinde ele alınmıştır. Yemenin ‘aşırı’ kontrolü (anoreksi) ya da kontrolün kaybı (tıkınırcasına yeme) üzerine kurulu yeme bozukluğu kategorilerinde de görüldüğü gibi bu durumlar kadın bedeninin sosyal kontrolü ve biyoiktidarın işlerlik kazandığı yönetimsellik alanları olarak değerlendirilmiş ve yemeğin ve yemek yemenin sosyal medyadaki sunumu #foodporn, ASMR ve mukbang gibi sosyal medya içerikleri temelinde analiz edilmiştir
Measurement of inclusive and differential cross sections of single top quark production in association with a W boson in proton-proton collisions at ?s=13.6 TeV
No full textThe first measurement of the inclusive and normalised differential cross sections of single top quark production in association with a W boson in proton-proton collisions at a centre-of-mass energy of 13.6 TeV is presented. The data were recorded with the CMS detector at the LHC in 2022, and correspond to an integrated luminosity of 34.7 fb(-1). The analysed events contain one muon and one electron in the final state. For the inclusive measurement, multivariate discriminants exploiting the kinematic properties of the events are used to separate the signal from the dominant top quark-antiquark production background. A cross section of 82.3 +/- 2.1(stat)(+9.9)(-9.7)(syst) +/- 3.3(lumi) pb is obtained, consistent with the predictions of the standard model. A fiducial region is defined according to the detector acceptance to perform the differential measurements. The resulting differential distributions are unfolded to particle level and show good agreement with the predictions at next-to-leading order in perturbative quantum chromodynamics.FWF; FNRS; FWO (Belgium); CNPq; CAPES; FAPERJ; FAPERGS; FAPESP (Brazil); BNSF (Bulgaria); MoST; NSFC (China); CSF (Croatia); RIF (Cyprus); SENESCYT (Ecuador); ERC PRG [MoER TK202]; Academy of Finland; MEC; CEA; CNRS/IN2P3 (France); SRNSF; BMBF; DFG; HGF (Germany); NKFIH (Hungary); DAE; DST; IPM; SFI (Ireland); INFN (Italy); NRF (Republic of Korea); MES (Latvia); MOE; UM (Malaysia); BUAP; CONACYT; UASLP-FAI (Mexico); PAEC (Pakistan); FCT (Portugal); MESTD (Serbia); PCTI (Spain); MOSTR (Sri Lanka); Swiss Funding Agencies (Switzerland); NSTDA; TUBITAK; DOE; NSF; Marie-Curie programme; European Research Council; Horizon 2020 Grant [675440, 724704, 752730, 758316, 765710, 824093, 101115353, 101002207]; COST Action [CA16108]; Leventis Foundation; Alfred P. Sloan Foundation; Alexander von Humboldt Foundation; Science Committee [22rl-037]; Belgian Federal Science Policy Office; Fonds pour la Formation a la Recherche dans l'Industrie et dans l'Agriculture (FRIA-Belgium); FWO (Belgium) under the Excellence of Science - EOS [30820817]; Beijing Municipal Science AMP; Technology Commission [Z191100007219010]; Fundamental Research Funds for the Central Universities (China); Ministry of Education, Youth and Sports (MEYS) of the Czech Republic; Shota Rustaveli National Science Foundation [FR-22-985]; Deutsche Forschungsgemeinschaft (DFG) [EXC 2121, 390833306, 400140256 - GRK2497]; Hellenic Foundation for Research and Innovation (HFRI) [2288]; Hungarian Academy of Sciences [K 131991, K 133046, K 138136, K 143460, K 143477, K 146913, K 146914, K 147048, 2020-2.2.1-ED-2021-00181, TKP2021-NKTA-64]; Council of Science and Industrial Research, India - NextGenerationEU program (Italy); Latvian Council of Science; Ministry of Education and Science [2022/WK/14]; National Science Center [Opus 2021/41/B/ST2/01369, 2021/43/B/ST2/01552, CEECIND/01334/2018]; National Priorities Research Program by Qatar National Research Fund; ERDF a way of making Europe [MDM-2017-0765]; Programa Severo Ochoa del Principado de Asturias (Spain); National Science, Research and Innovation Fund via the Program Management Unit for Human Resources AMP; Institutional Development, Research and Innovation [B39G670016]; Kavli Foundation; Nvidia Corporation; SuperMicro Corporation; Welch Foundation [C-1845]; Weston Havens Foundation (U.S.A.)We congratulate our colleagues in the CERN accelerator departments for the excellent performance of the LHC and thank the technical and administrative staffs at CERN and at other CMS institutes for their contributions to the success of the CMS effort. In addition, we gratefully acknowledge the computing centres and personnel of the Worldwide LHC Computing Grid and other centres for delivering so effectively the computing infrastructure essential to our analyses. Finally, we acknowledge the enduring support for the construction and operation of the LHC, the CMS detector, and the supporting computing infrastructure provided by the following funding agencies: SC (Armenia), BMBWF and FWF (Austria); FNRS and FWO (Belgium); CNPq, CAPES, FAPERJ, FAPERGS, and FAPESP (Brazil); MES and BNSF (Bulgaria); CERN; CAS, MoST, and NSFC (China); MINCIENCIAS (Colombia); MSES and CSF (Croatia); RIF (Cyprus); SENESCYT (Ecuador); ERC PRG, RVTT3 and MoER TK202 (Estonia); Academy of Finland, MEC, and HIP (Finland); CEA and CNRS/IN2P3 (France); SRNSF (Georgia); BMBF, DFG, and HGF (Germany); GSRI (Greece); NKFIH (Hungary); DAE and DST (India); IPM (Iran); SFI (Ireland); INFN (Italy); MSIP and NRF (Republic of Korea); MES (Latvia); LMTLT (Lithuania); MOE and UM (Malaysia); BUAP, CINVESTAV, CONACYT, LNS, SEP, and UASLP-FAI (Mexico); MOS (Montenegro); MBIE (New Zealand); PAEC (Pakistan); MES and NSC (Poland); FCT (Portugal); MESTD (Serbia); MCIN/AEI and PCTI (Spain); MOSTR (Sri Lanka); Swiss Funding Agencies (Switzerland); MST (Taipei); MHESI and NSTDA (Thailand); TUBITAK and TENMAK (Turkey); NASU (Ukraine); STFC (United Kingdom); DOE and NSF (U.S.A.).r Individuals have received support from the Marie-Curie programme and the European Research Council and Horizon 2020 Grant, contract Nos. 675440, 724704, 752730, 758316, 765710, 824093, 101115353, 101002207, and COST Action CA16108 (European Union); the Leventis Foundation; the Alfred P. Sloan Foundation; the Alexander von Humboldt Foundation; the Science Committee, project no. 22rl-037 (Armenia); the Belgian Federal Science Policy Office; the Fonds pour la Formation a la Recherche dans l'Industrie et dans l'Agriculture (FRIA-Belgium); the F.R.S.-FNRS and FWO (Belgium) under the Excellence of Science - EOS - be.h project n. 30820817; the Beijing Municipal Science & Technology Commission, No. Z191100007219010 and Fundamental Research Funds for the Central Universities (China); the Ministry of Education, Youth and Sports (MEYS) of the Czech Republic; the Shota Rustaveli National Science Foundation, grant FR-22-985 (Georgia); the Deutsche Forschungsgemeinschaft (DFG), among others, under Germany's Excellence Strategy - EXC 2121 Quantum Universe - 390833306, and under project number 400140256 - GRK2497; the Hellenic Foundation for Research and Innovation (HFRI), Project Number 2288 (Greece); the Hungarian Academy of Sciences, the New National Excellence Program - uNKP, the NKFIH research grants K 131991, K 133046, K 138136, K 143460, K 143477, K 146913, K 146914, K 147048, 2020-2.2.1-ED-2021-00181, and TKP2021-NKTA-64 (Hungary); the Council of Science and Industrial Research, India; ICSC - National Research Centre for High Performance Computing, Big Data and Quantum Computing and FAIR - Future Artificial Intelligence Research, funded by the NextGenerationEU program (Italy); the Latvian Council of Science; the Ministry of Education and Science, project no. 2022/WK/14, and the National Science Center, contracts Opus 2021/41/B/ST2/01369 and 2021/43/B/ST2/01552 (Poland); the FundacAo para a Ciencia e a Tecnologia, grant CEECIND/01334/2018 (Portugal); the National Priorities Research Program by Qatar National Research Fund; MCIN/AEI/10.13039/501100011033, ERDF a way of making Europe, and the Programa Estatal de Fomento de la Investigacion Cientifica y Tecnica de Excelencia Maria de Maeztu, grant MDM-2017-0765 and Programa Severo Ochoa del Principado de Asturias (Spain); the Chulalongkorn Academic into Its 2nd Century Project Advancement Project, and the National Science, Research and Innovation Fund via the Program Management Unit for Human Resources & Institutional Development, Research and Innovation, grant B39G670016 (Thailand); the Kavli Foundation; the Nvidia Corporation; the SuperMicro Corporation; the Welch Foundation, contract C-1845; and the Weston Havens Foundation (U.S.A.)
Accuracy and Reliability of ChatGPT in Answering Patient Questions About Lung Cancer and Its Surgery: An Expert Panel Evaluation by Thoracic Surgeons
No full textThis study aimed to evaluate the accuracy, clarity, and scientific adequacy of ChatGPT's responses to frequently asked patient questions concerning lung cancer and its surgical treatment, through an expert panel of thoracic surgeons. A total of 36 frequently asked questions-20 related to lung cancer and 16 related to lung cancer surgery-were collected from various online sources and clinical experience. These questions were submitted to ChatGPT-4.0 in a single session, and the initial responses were assessed by four experienced thoracic surgeons. Each response was scored independently using a 5-point Likert scale for scientific adequacy, clarity, and accuracy. The mean scores, standard deviations, and word counts were calculated. Inter-group comparisons were conducted using independent-samples t-tests. ChatGPT's responses were rated generally high across all domains. For lung cancer questions, the mean scores were 4.50 +/- 0.18 (scientific adequacy), 4.57 +/- 0.21 (clarity), and 4.66 +/- 0.21 (accuracy), with an average word count of 152.4 +/- 36.86. For surgical questions, scores were slightly higher: 4.57 +/- 0.31, 4.64 +/- 0.26, and 4.73 +/- 0.21, respectively, with an average word count of 163.68 +/- 35.64. Although the differences were not statistically significant, responses to surgical questions were associated with slightly higher agreement scores. Full scores were achieved in three surgical questions. ChatGPT demonstrated a high degree of reliability and clarity in answering commonly asked patient questions about lung cancer and surgery. While the model can serve as a supportive educational tool, it should not replace personalized physician-patient communication, especially in clinical decision-making processes
Measurement of the W boson decay branching fraction ratio B(W ? cq)/B(W ? q(q)over-bar?) in proton-proton collisions at ?s=13TeV
No full textThe most precise measurement to date of the W boson hadronic decay branching fraction ratio R-c(W) = B(W -> cq)/B(W -> q (q) over bar') is presented. The measurement is based on a sample of proton-proton collision data from the CERN LHC collected by the CMS experiment at a center-of-mass energy of 13TeV in 2016-2018 with an integrated luminosity of 138 fb(-1). The large cross section of top quark-antiquark production at the LHC offers a sizable high-purity sample of W bosons suitable for this measurement. Events with one charged lepton (electron or muon) and at least four jets, two tagged as bottom quark jets, are analyzed. Charm jets are tagged using the presence of a muon inside the jet. The result, R-c(W) = 0.489 +/- 0.020, is consistent with the standard model prediction and is twice as precise as the current world-average value.FWF (Austria); FNRS (Belgium); FWO (Belgium); CNPq (Brazil); CAPES (Brazil); FAPERJ (Brazil); FAPERGS (Brazil); FAPESP (Brazil); BNSF (Bulgaria); MOST (China); NSFC (China); CSF (Croatia); RIF (Cyprus); SENESCYT (Ecuador); ERC PRG (Estonia) [MoER TK202]; Academy of Finland; MEC (Finland); CEA (France); CNRS/IN2P3 (France); SRNSF (Georgia); BMBF (Germany); DFG (Germany); HGF (Germany); NKFIH (Hungary); DAE (India); DST (India); IPM (Iran); SFI (Ireland); INFN (Italy); NRF (Republic of Korea); MES (Latvia); MOE (Malaysia); UM (Malaysia); BUAP (Mexico); CONACYT (Mexico); UASLP-FAI (Mexico); PAEC (Pakistan); FCT (Portugal); MESTD (Serbia); PCTI (Spain); Swiss Funding Agencies (Switzerland); NSTDA (Thailand); TUBITAK (Turkey); DOE (USA); NSF (USA); Marie-Curie program; European Research Council; Horizon 2020 Grant [675440, 724704, 752730, 758316, 765710, 824093, 101115353, 101002207]; COST Action [CA16108]; Leventis Foundation; Alfred P. Sloan Foundation; Alexander von Humboldt Foundation; Science Committee [22rl-037]; Belgian Federal Science Policy Office; Fonds pour la Formation a la Recherche dans l'Industrie et dans l'Agriculture (FRIA-Belgium); FWO (Belgium) under the Excellence of Science - EOS [30820817]; Beijing Municipal Science AMP; Technology Commission [Z191100007219010]; Fundamental Research Funds for the Central Universities (China); Ministry of Education, Youth and Sports (MEYS) of the Czech Republic; Shota Rustaveli National Science Foundation [FR-22-985]; Deutsche Forschungsgemeinschaft (DFG) [EXC 2121, 390833306, 400140256 - GRK2497]; Hellenic Foundation for Research and Innovation (HFRI) [2288]; Hungarian Academy of Sciences [K 131991, K 133046, K 138136, K 143460, K 143477, K 146913, K 146914, K 147048, 2020-2.2.1-ED-2021-00181, TKP2021-NKTA-64, 2021-4.1.2-NEMZ_KI-2024-00036]; Council of Science and Industrial Research, India - NextGenerationEU program (Italy); Latvian Council of Science; Ministry of Education and Science [2022/WK/14]; National Science Center [Opus 2021/41/B/ST2/01369, 2021/43/B/ST2/01552]; Fundacao para a Ciencia e a Tecnologia [CEECIND/01334/2018]; National Priorities Research Program by Qatar National Research Fund; ERDF a way of making Europe [MDM-2017-0765]; Programa Severo Ochoa del Principado de Asturias (Spain); National Science, Research and Innovation Fund via the Program Management Unit for Human Resources AMP; Institutional Development, Research and Innovation [B39G670016]; Kavli Foundation; Nvidia Corporation; Welch Foundation [C-1845]; Weston Havens Foundation (USA)We congratulate our colleagues in the CERN accelerator departments for the excellent performance of the LHC and thank the technical and administrative staffs at CERN and at other CMS institutes for their contributions to the success of the CMS effort. In addition, we gratefully acknowledge the computing centers and personnel of the Worldwide LHC Computing Grid and other centers for delivering so effectively the computing infrastructure essential to our analyses. Finally, we acknowledge the enduring support for the construction and operation of the LHC, the CMS detector, and the supporting computing infrastructure provided by the following funding agencies: SC (Armenia), BMBWF and FWF (Austria); FNRS and FWO (Belgium); CNPq, CAPES, FAPERJ, FAPERGS, and FAPESP (Brazil); MES and BNSF (Bulgaria); CERN; CAS, MOST, and NSFC (China); Minciencias (Colombia); MSES and CSF (Croatia); RIF (Cyprus); SENESCYT (Ecuador); ERC PRG, RVTT3 and MoER TK202 (Estonia); Academy of Finland, MEC, and HIP (Finland); CEA and CNRS/IN2P3 (France); SRNSF (Georgia); BMBF, DFG, and HGF (Germany); GSRI (Greece); NKFIH (Hungary); DAE and DST (India); IPM (Iran); SFI (Ireland); INFN (Italy); MSIP and NRF (Republic of Korea); MES (Latvia); LMTLT (Lithuania); MOE and UM (Malaysia); BUAP, CINVESTAV, CONACYT, LNS, SEP, and UASLP-FAI (Mexico); MOS (Montenegro); MBIE (New Zealand); PAEC (Pakistan); MES and NSC (Poland); FCT (Portugal); MESTD (Serbia); MCIN/AEI and PCTI (Spain); MoSTR (Sri Lanka); Swiss Funding Agencies (Switzerland); MST (Taipei); MHESI and NSTDA (Thailand); TUBITAK and TENMAK (Turkey); NASU (Ukraine); STFC (United Kingdom); DOE and NSF (USA).r Individuals have received support from the Marie-Curie program and The European Research Council and Horizon 2020 Grant, contract Nos. 675440, 724704, 752730, 758316, 765710, 824093, 101115353, 101002207, and COST Action CA16108 (European Union); the Leventis Foundation; the Alfred P. Sloan Foundation; the Alexander von Humboldt Foundation; the Science Committee, project no. 22rl-037 (Armenia); the Belgian Federal Science Policy Office; the Fonds pour la Formation a la Recherche dans l'Industrie et dans l'Agriculture (FRIA-Belgium); the F.R.S.-FNRS and FWO (Belgium) under the Excellence of Science - EOS - be.h project n. 30820817; the Beijing Municipal Science & Technology Commission, No. Z191100007219010 and Fundamental Research Funds for the Central Universities (China); The Ministry of Education, Youth and Sports (MEYS) of the Czech Republic; the Shota Rustaveli National Science Foundation, grant FR-22-985 (Georgia); the Deutsche Forschungsgemeinschaft (DFG), among others, under Germany's Excellence Strategy - EXC 2121 Quantum Universe - 390833306, and under project number 400140256 - GRK2497; the Hellenic Foundation for Research and Innovation (HFRI), Project Number 2288 (Greece); the Hungarian Academy of Sciences, the New National Excellence Program - UNKP, the NKFIH research grants K 131991, K 133046, K 138136, K 143460, K 143477, K 146913, K 146914, K 147048, 2020-2.2.1-ED-2021-00181, TKP2021-NKTA-64, and 2021-4.1.2-NEMZ_KI-2024-00036 (Hungary); the Council of Science and Industrial Research, India; ICSC - National Research Center for High Performance Computing, Big Data and Quantum Computing and FAIR - Future Artificial Intelligence Research, funded by the NextGenerationEU program (Italy); the Latvian Council of Science; the Ministry of Education and Science, project no.2022/WK/14, and the National Science Center, contracts Opus 2021/41/B/ST2/01369 and 2021/43/B/ST2/01552 (Poland); the Fundacao para a Ciencia e a Tecnologia, grant CEECIND/01334/2018 (Portugal); the National Priorities Research Program by Qatar National Research Fund; MCIN/AEI/10.13039/501100011033, ERDF a way of making Europe, and the Programa Estatal de Fomento de la Investigacion Cientifica y Tecnica de Excelencia Maria de Maeztu, grant MDM-2017-0765 and Programa Severo Ochoa del Principado de Asturias (Spain); the Chulalongkorn Academic into Its 2nd Century Project Advancement Project, and the National Science, Research and Innovation Fund via the Program Management Unit for Human Resources & Institutional Development, Research and Innovation, grant B39G670016 (Thailand); the Kavli Foundation; the Nvidia Corporation; the Super-Micro Corporation; the Welch Foundation, contract C-1845; and the Weston Havens Foundation (USA)
INVESTMENT RISK MANAGEMENT IN MAJOR STOCK EXCHANGES AND SME MARKETS OF EMERGING ECONOMIES
No full textIntroduction. Small and medium enterprises (SMEs) are crucial in the economy by providing jobs, contributing to GDP, efficiently providing products and services where economies of scale are not needed and creating cash flows. However, SMEs encounter certain obstacles, with financial constraints being the major ones. SME markets have been perceived as another opportunity for SMEs to obtain external financing. Aim and tasks. This study aims to analyse the interactions between major stock and SME markets in emerging economies, focusing on China, India, and Indonesia. Results. The diagonal BEKK and DCC-GARCH models analyse the transitions between these stock markets. The study findings offer compelling evidence of dynamic conditional correlations across all markets and illustrate significant volatility spillovers among the SME markets. This correlation is evident both in the short and long periods. The evidence indicates that small-and medium-sized market volatility significantly affects larger markets. The findings reveal a substantial interplay between the major and SME stock markets in emerging economies, including China, India, and Indonesia. According to the diagonal BEKK and the DCC results, investors should not expect significant diversification benefits by including primary and SME market instruments in their portfolios. Investors should closely monitor the co-movements and transitions between these markets to optimise their portfolio diversification strategies. Conclusions. Creating an environment and conditions that promote the growth of SMEs and improve resilience through specific fiscal alternatives, enhancing access to financing, and upgrading market infrastructure are essential. This study found substantial interplay between major and SME stock markets. Policymakers should be aware that SME market fluctuations influence larger stock exchanges and destabilise macroeconomic conditions, such as economic stability and growth. Therefore, regulatory actions that project the need and operational efficiency of stock market segments should be implemented to prevent adverse effects. For instance, transparency and risk management can stabilise SME stock markets to avoid volatility in larger markets