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What do sentiments of budget speeches mean for stock returns?
No full textThis study examines governments’ term-wise policy analysis, their focus, and thematic shifts using the budget speech data from 1991 to 2024, followed by the sentiment analysis and its impact on the stock returns. The GARCH family models are applied to study the effects of sentiments from the budget speech on the stock returns using the data from 01-07-1997 to 26-07-2024. Our analysis reveals that the government’s top priorities between 1991 and 2024 are services and industry, which in the last 10 years were followed by manufacturing, modernization, health, education, food, business, and digital. The budget speech sentiments have relatively lower negative sentiments; hence, the positive sentiments outweigh throughout. It is observed that polarity reduces stock returns, whereas subjectivity incurs a gain. It implies that the subjective sentiments of more emotive, opinionated, or both incur the capital gain. The result is also warranted because the budget speech day indicates investors’ sentiments of abnormally high trading volume change
Construction, Real Uncertainty, and Stock-Level Investment Anomalies
Get PDFWe show that the negative relation between real investments and future stock returns is primarily driven by the subsample of firms building additional capacity. We develop a real options model to rationalize that evidence based on the premise that firms need to learn how to best operate modern capacity vintages, inducing idiosyncratic uncertainty in that capacity’s production costs over the learning period. Conversely, the uncertainty lowers the expected return of firms with newly built capacity until it is resolved. Further evidence based on profit sensitivities to aggregate conditions; analyst forecast-error volatilities; and high- versus low-tech industry subsamples supports our uncertainty explanation
Joint TITE-CRM : A Design for Dose Finding Studies for Therapies with Late-Onset Safety and Activity Outcomes
Get PDFIn Phase I/II dose-finding trials, the objective is to find the Optimal Biological Dose (OBD), a dose that is both safe and shows sufficient activity that maximizes some optimality criterion based on safety and activity. In cancer, treatment is typically given over several cycles, complicating the identification of the OBD as both toxicity and activity outcomes may occur at any point throughout the follow up of multiple cycles. In this work we present and assess the Joint TITE-CRM, a model-based design for late onset toxicities and activity based on the well-known TITE-CRM. It is found to be superior to the currently available alternative designs that account for late onset bivariate outcomes, as well as being both intuitive and computationally feasible
Structural Eurocentrism in philosophy : An argument for sociometaphilosophy
No full textThis article has three main aims. First, it argues that the question of the inclusion of “non‐Western” thought in philosophy cannot be resolved by appealing to definitions of philosophy, as such definitions are an integral part of the epistemically hegemonic practices responsible for the exclusion of non‐Western thought in the first place. Second, it argues that philosophy is structurally Eurocentric. It makes this argument first by looking at metaphilosophy. It argues that metaphilosophy is primarily performative and that its performativity is a form of boundary work that is engaged in hegemonic practices of the epistemic type. It then argues that philosophy as a whole is inescapably engaged in boundary work and hegemonic practices, some of which partake in structural Eurocentrism. Finally, it promotes sociometaphilosophy, an approach that draws from the new sociology of knowledge to identify illegitimate mechanisms of exclusion inscribed in the rules that codify philosophical practice
Resolving the contrasting leaf hydraulic adaptation of C3 and C4 grasses
No full textSummary: Grasses are exceptionally productive, yet their hydraulic adaptation is paradoxical. Among C3 grasses, a high photosynthetic rate (Aarea) may depend on higher vein density (Dv) and hydraulic conductance (Kleaf). However, the higher Dv of C4 grasses suggests a hydraulic surplus, given their reduced need for high Kleaf resulting from lower stomatal conductance (gs). Combining hydraulic and photosynthetic physiological data for diverse common garden C3 and C4 species with data for 332 species from the published literature, and mechanistic modeling, we validated a framework for linkages of photosynthesis with hydraulic transport, anatomy, and adaptation to aridity. C3 and C4 grasses had similar Kleaf in our common garden, but C4 grasses had higher Kleaf than C3 species in our meta‐analysis. Variation in Kleaf depended on outside‐xylem pathways. C4 grasses have high Kleaf:gs, which modeling shows is essential to achieve their photosynthetic advantage. Across C3 grasses, higher Aarea was associated with higher Kleaf, and adaptation to aridity, whereas for C4 species, adaptation to aridity was associated with higher Kleaf:gs. These associations are consistent with adaptation for stress avoidance. Hydraulic traits are a critical element of evolutionary and ecological success in C3 and C4 grasses and are crucial avenues for crop design and ecological forecasting
Suffering and loss in Lewy body dementia : applying a palliative care lens to a longitudinal narrative study
Get PDFObjectives This study aims to explore the everyday experiences of people living with Lewy body dementia and their families, to deepen understanding of their care needs. Lewy body dementia is a neurodegenerative condition associated with shorter life-expectancy and poorer quality of life than other forms of dementia. Cognitive fluctuations, visual hallucinations, falls, and motor features of Parkinsonism gives rise to complex and debilitating symptoms. Other prominent features include behavioral and emotional problems, rapid eye movement sleep disorder, and autonomic dysfunction. Improving palliative care for people with dementia continues to be an international priority; however, little is known as to how a palliative care approach could support people living with Lewy body dementia and their families. Methods Drawing on narrative theory of self and personhood, a qualitative, longitudinal narrative approach provided unique insights into 5 couples’ experiences of living with Lewy body dementia. Analysis was conducted using Murray’s levels of narrative analysis in health psychology to explore stories at the personal, interpersonal, positional, and societal level. Results Participants with Lewy body dementia described losses associated with communication, continence, and energy leading to a progressive loss of independence. For their family caregivers a loss of companionship was particularly salient. These losses, compounded by a perceived lack of clinical support, resulted in suffering both for the person with Lewy body dementia, and for those close to them. Significance of results There has been a societal and political shift to move beyond loss in dementia, to a focus on abilities and living well. However, acknowledging loss, while supporting symptom management is an important aspect of Lewy body dementia care. Providing person-centered, palliative supportive care throughout the disease trajectory could reduce suffering and enhance well-being
Blockchain-empowered Keyword Searchable Provable Data Possession for Large Similar Data
Get PDFProvable Data Possession (PDP) is an alternative technique that guarantees the integrity of remote data. However, most current PDP schemes are inapplicable to similarity-like data checking with the same attribute, i.e., when there are numerous similar files to be checked by Data Owners (DOs). Some traditional models cannot resist the corrupt auditors who always generate biased challenge information. Besides, a copy-summation attack exists in some schemes, which means the Cloud Server (CS) can bypass the verification by storing the median value instead of initial data via summation operation. To address the issues above, in this work, we propose a keyword searchable PDP scheme for large similar data checking. To achieve searchability, we introduce the notion of a keyword in PDP and design a specific index structure to match the authenticator. The scheme enables all matched files to be auditable and verifiable, while guaranteeing privacy protections. Unlike existing methods, our Third Party Auditor (TPA) checks all similar data containing the same keyword simultaneously. We utilize unpredictable yet verifiable public information on the blockchain to generate challenge information, rather than relying on a centralized TPA. The proposed scheme can resist copy-summation attacks. Theoretical analysis demonstrates that the proposed scheme satisfies the security requirements, and our evaluations demonstrate its efficiency
Experiences of Receiving Formal Psychological Support following Lower Limb Amputation : A Qualitative Study
Get PDFPurpose: This study sought to explore the experiences of receiving formal psychological support following non-vascular-related lower limb amputation. Materials and Methods: Semi-structured interviews were conducted with five individuals (3 males, 2 females, aged 38–56) with lower limb loss. Two had unilateral above knee amputations, one a unilateral below knee amputation, one a unilateral through-knee amputation, and one had bilateral above knee amputations. Four had trauma-related amputations, one had an amputation due to cancer. All had received formal psychological support related to their amputation. Interpretative phenomenological analysis was used for the analysis of the data. Results: Four themes were developed: (1) The need for psychological intervention—denial and acceptance; (2) “Safe space”—being valued, heard, and validated; (3) The importance of focus, transparency, and specialist knowledge; and (4) The most helpful techniques and approaches. Findings highlighted aspects of psychological support that were helpful and unhelpful. Conclusions: The findings provide insights into how psychological support for people with lower limb amputation can be delivered or improved. These include: the importance of psychological support throughout rehabilitation; the benefit of transparency and collaborative goal setting in sessions; and participants’ preference that those providing formal psychological support have limb loss specific knowledge
