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Steroids under voltage: unlocking reactivity with electrochemistry
Get PDFSteroids are ubiquitous natural compounds that play essential physiological roles in both plants and animals. Owing to their diverse biological activities, including anti-inflammatory, antitumor, antiviral, and antimicrobial effects, steroidal compounds have found widespread therapeutic uses in the treatment of numerous clinical conditions. Unsurprisingly, the global steroid market is valued at approximately US$4 billion. Despite their broad impact in chemical research and the pharmaceutical industry, the synthesis of steroids remains challenging due to the structural complexity and limited availability of efficient synthetic methodologies. This review highlights recent advances in electrochemically enabled approaches for steroid activation and functionalization, aiming to inspire innovative and sustainable strategies for steroid manipulation and production
Editorial: The migratory behaviour of salt marsh mosquitoes: revisiting the evidence
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Hedging, hedge accounting, and stock price crash risk: evidence from China
No full textThe research problem
This study examines the association between hedge-based derivatives usage and stock price crash risk, as well as the moderating effect of International Financial Reporting Standard 9—Financial Instruments (IFRS 9) hedge accounting requirements on the association between derivatives usage and stock price crash risk in China.
Motivation
A growing number of companies worldwide are using financial derivatives to hedge risks. However, evidence is mixed on whether hedge-based derivatives usage increases or decreases firm transparency. While prior studies demonstrate that financial reporting complexity can affect the informational effect of derivatives, evidence is limited on whether and how the recent changes in hedge accounting requirements in IFRS 9 affect the capital market outcomes of derivatives. Using data from China, one of the largest emerging markets, we test the informational effects of hedge-based derivatives usage and IFRS 9 requirements to provide incremental evidence on the market outcomes of firm use of financial derivatives. The findings have implications for international investors and facilitate the International Accounting Standards Board’s (IASB) post-implementation review of the IFRS 9 hedge accounting requirements.
The test hypotheses
Our first hypothesis is that no association exists between hedging and stock price crash risk in China. Our second hypothesis is that the implementation of IFRS 9 requirements does not influence the association between hedging and stock price crash risk in China.
Target population
This study is of interest to accounting and finance researchers, firm managers, accounting practitioners, international accounting standard setters, regulatory authorities, and investors.
Adopted methodology
Ordinary least squares regressions (OLS), difference-in-differences (DiD) research design, propensity score matching (PSM), and entropy balancing (EB) are used in this research.
Analyses
We manually collect derivatives-related information (including purposes of derivatives usage, measurement basis of the derivatives, and hedge accounting treatment) from the annual reports of firms listed on the mainboard of the Shanghai and Shenzhen stock exchanges from 2016 to 2021. We adopt OLS and a DiD research design to test our hypotheses, and use the PSM and EB methods to address endogeneity concerns.
Findings
We find a positive association between hedging and stock price crash risk among the listed Chinese companies. Furthermore, after the implementation of IFRS 9, stock price crash risk decreases more among the hedgers than among firms without financial derivatives. Our channel tests show that IFRS 9 increases the quality of hedge accounting information, thus reducing stock price crash risk. The cross-sectional tests further support the capability of IFRS 9 to reduce noise contained in hedge accounting information, therefore improving firm-level transparency
Labour pains: mothers and motherhood on the British Left in the twentieth century
Get PDFBritish left-wing politics does not know what to think about mothers. In left-wing women’s movements, motherhood has been recognised as essential and difficult; necessary for future revolutions, not least in raising future revolutionaries. In less radical circles, it has been understood as a crucial contribution to the functioning of society, often forming the basis of women’s claims to citizenship and maternalist forms of politics. On the other hand, motherhood has been seen as a ‘natural’ function of women and a private responsibility, rather than a public good or a collective act which needs comprehensive state support. The family, in this reading, is a rather conservative force, better left to social reactionaries. Mothering has added additional hurdles to the gendered obstacles women already face in pursuing politics as activists or elected representatives. Perhaps because of this, many mothers in politics have sought to downplay or distance themselves from their roles as mothers, emphasising instead their contributions as workers and activists who can be fully committed to the left cause. Feminist historians have often followed their lead and have tended to write around political mothers’ maternal roles in their scholarship. This roundtable develops themes first explored in our November 2023 workshop, generously supported by the Royal Historical Society
Chapter 3. Mixed strain fermentation and metabolomics for solving issues of bioproduction
Get PDFIn the research of mixed microbial cultures, the numbers and identifications of individual strains are often fully or partially unknown. Their metabolic capabilities are also partially unpredictable, especially if the joint potential is to be understood. In these kinds of situations, deeper insight into the variable microbial communities cannot be obtained by genetic analysis only. Even more critical than the taxonomic aspect is usually the functional metabolic outcome of the mixed flora in question. The results from such studies as NMR (Nucleic Magnetic Resonance) give a precise view from versatile angles into the biochemical activities during the multiparametric metabolic responses of the microflora as a whole. Originally, metabonomics was mainly used for the pathophysiological research of various microbes or for recording the genetic or biochemical modifications of mixed microflora. This approach offers a tool for monitoring changes in microscopic or otherwise confined ecosystems or multiple locations from which representative specimens are difficult to obtain. In microbiological studies, the research group can attain overall views on variable populations and their alterations in time and space
Non-trivial self-organised floor plans: an optimisation strategy
Get PDFWe present a novel workflow where non-rectangular floor plans (NRFPs), namely plans with at least one concave corner, are self-generated using a model that directly encodes key optimisation factors on spatial quality and energy consumption, with non rectangular building envelopes. The modelling considers a number of key factors including architectural and urban quality, net zero factors and adherence to general residents’ feedback from previous studies. We provide evidence that the proposed workflow outperforms a number of optimisation solvers generally used in computational design, in those cases where solar radiation is most needed. Our study combines a syntactic approach with a computational one with a novel workflow to encode tangible and intangible factors to improve a specific class of non-trivial floor plans (L-shaped)
Differential attraction of summer and winter morphs of spotted wing Drosophila, Drosophila suzukii, to yeasts
Get PDFDrosophila suzukii is a pest of soft and stone fruits that is attracted to yeast volatile metabolites. Drosophila suzukii has distinct summer and winter morphs which are found in different habitats. Complex communities of yeasts likely differ between habitats and thus we hypothesized morphs differ in their attraction to yeast volatiles from different species and combinations of species. We presented D. suzukii with yeast species in isolation and in combinations, as either post-culture mixes or co-cultured, and measured activity of the flies in laboratory choice tests with a Locomotor Activity Monitor as a proxy for attraction. Candida zemplinina was more attractive to winter than summer morphs when cultured in both sterile strawberry juice (SSJ) and artificial culture media (YPD). No significant correlations were found between principle component scores derived from single yeast volatile profiles and fly activity. There was also differential attraction of morphs to certain yeast mixes, most notably post SSJ culture mixes of Hanseniaspora uvarum and C. zemplinina were consistently more attractive to winter morphs. Mixtures of Metschnikowia pulcherrima + Pichia pijperi + H. uvarum in SSJ and M. pulcherrima + P. pijperi yeasts in YPD were also preferred by winter morphs, whilst summer morphs were attracted to SSJ co-cultures of M. pulcherrima + H. uvarum. However, co-culturing yeasts did not enhance attraction compared to post-culture mixes of constituent yeasts for either morph. Differential attraction of morphs to certain yeasts suggest options for new bait formulations in integrated pest management strategies may be tailored to better target morphs
Molecular biomarkers of glial activation and injury in epilepsy
Get PDFIncreasing evidence from fluid biopsies suggests activation and injury of glial cells in epilepsy. The prevalence of clinical and subclinical seizures in neurodegenerative conditions such as Alzheimer’s disease, frontotemporal dementia and others merits review and comparison of the effects of seizures on glial markers in epilepsy and neurodegenerative diseases with concomitant seizures. Herein, we revisit preclinical and clinical reports of alterations in glial proteins in cerebrospinal fluid and blood associated with various types of epilepsy. We consider shared and distinct characteristics of changes in different age groups and sexes of humans and animal models of epilepsy and compare with those reported in biofluids of neurodegenerative diseases. Our analysis indicates a significant overlap of glial response in these prevalent neurological conditions
Development and validation of the Rapport-Pro for investigative information-gathering contexts
Get PDFThis paper presents the development and validation of a new measure of rapport designed specifically for measuring attempts to build rapport in professional information-gathering contexts. Guided by best practice recommendations and informed by a systematic review, the development of the ‘Rapport-Pro’ followed three initial phases: (i) construct identification and item generation, (ii) pre-testing and face validity assessment, and (iii) expert evaluation and content validity. Following established scale development standards, two online survey studies examined the psychometric properties of the Rapport-Pro considering its accuracy and appropriateness in measuring rapport in professional contexts. Study 1 (n = 172) included the three initial development phases and a Confirmatory Factor Analysis, which supported a second-order model where five rapport components loaded onto a higher-order rapport factor. Item Response Theory analysis further confirmed item discriminability, and the reliability of the Rapport-Pro. Study 2 (n = 399) sought to replicate the findings from Study 1, suggesting good factorial and concurrent validity, whilst also examining the construct validity by assessing the Rapport-Pro’s alignment with related constructs such as ‘active listening’, ‘trust’, and ‘expertise’ through convergent and discriminant validity checks. The successful replication of evidence supporting factorial and concurrent validity from Study 1 attests to the stability and effectiveness of the Rapport-Pro in detecting variations in rapport. With evidence of factorial, construct, face, content, and concurrent validity, the Rapport-Pro addresses theoretical gaps and practical needs, emerging as a robust instrument for assessing professional rapport and enhancing official guidelines, training, and practice of rapport-building strategies
Resulting trusts and common intention
Get PDFAlthough the resulting trust has played a lessening role as an appropriate mechanism for determining beneficial ownership of the family home, recent case law has seen a re-emergence of the doctrine in cases involving the purchase of property as a business venture or investment. Significantly, in these cases, the courts have ruled out a holistic or broad brush approach (taking into account a range of factors) in assessing the parties equitable shares in favour of a purely mathematical calculation based on the parties’ respective financial contributions towards the purchase price. This approach, however, will not necessarily apply in all cases involving investment property as the Privy Council decision in Marr v Collie [2018] AC 631 has demonstrated. Much will still turn on the parties’ common intention in deciding whether to apply a resulting trust solution or, alternatively, an approach based on constructive trust principles. Apart from the investment context, it is now also clear that the resulting trust will be the preferred option where there is a lack of close relationship between the parties. Here too, the courts have excluded the determination of beneficial ownership under a common intention constructive trust and applied an arithmetical calculation of the parties’ respective beneficial shares despite the domestic context of the transaction
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