scholarly journals International Stock Market Integration and Its Economic Determinants: A Study of Indian and World Equity Markets

2007 ◽  
Vol 32 (4) ◽  
pp. 29-44 ◽  
Author(s):  
Kedarnath Mukherjee ◽  
R K Mishra
Keyword(s):  
Market Integration ◽  
Statistical Significance ◽  
Equity Market ◽  
The Other ◽  
Macroeconomic Factors ◽  
Entire Study ◽  
Economic Determinants ◽  
Leading Role ◽  
Foreign Countries ◽  
Trading Partners

During the periods of globalization and deregulation, it has become very common for the equity market of a country to respond to the equity movements of its international trading partners from all over the world. The effort, trying to achieve in this study, relates to how Indian equity market responds to the equity price movements of other countries and vice versa. Also, the possible forces behind such interdependence among the markets are investigated. Daily closing prices of all the major equity indices from a sample of 23 countries, including India, for a period of 16 years starting from 1990 to 2005 have been used to assess the co-movement of prices among the markets. The results reveal the following : Apart from exhibiting significant annual contemporaneous measures or same day intermarket relationship among India and most of the other foreign countries, the contemporaneous feedback statistics also reveals an increasing tendency in the degree of integration among the markets over a period of time, leading to a greater co-movements and therefore higher market efficiency at the international scenario. Except for Sri Lanka and Sweden, there is a significant contemporaneous flow of information among India and 20 other foreign countries. The countries from the same region are found to be more integrated than those from the different regions. As far as the unidirectional feedback measures are concerned, though most of the measures for the whole study period are found to be significant, only few annual measures exhibit statistical significance. Interestingly, India has been found to play a stronger leading role for the countries in the Asian region except for Pakistan, Philippines, and Singapore, during the entire study period. At the same time, USA and other five out of ten European countries have been found to strongly lead the Indian market during the same period. But, unlike the contemporaneous measures, there is no fixed trend (either increasing or decreasing) in the movements of the annual unidirectional feedback measures. Thus it is very difficult to conclude that any specific market consistently leads or follows the other market. As far as the pooled regression results are concerned, out of various macroeconomic factors, only some of them including the time trend are found to be significant in assessing the contemporaneous inter-market relation. At the same time, none of the macroeconomic factors, except the volatility in bi-lateral exchange rate and volatility differential among the two markets, are found to be statistically significant in explaining the unidirectional lead-lag relationship among the markets.

Comparative study of Clinical Characteristics in Patients with Mild and Severe Reflux Esophagitis

2020 ◽  
Vol 66 (1) ◽  
pp. 19-22
Author(s):  
Melania Macarie ◽  
Simona Maria Bataga ◽  
Monica Pantea ◽  
Razvan Opaschi ◽  
Simona Mocan ◽  
...  
Keyword(s):  
Risk Factors ◽  
Sex Ratio ◽  
Hiatal Hernia ◽  
Statistical Significance ◽  
Erosive Esophagitis ◽  
Male Gender ◽  
Consecutive Series ◽  
Study Group ◽  
Entire Study ◽  
Significant Difference

AbstractObjective: This study aims to determine the correlation between risk factors and erosive esophagitis development.Methods: We conducted a retrospective observational study on a consecutive series of 19.672 patients who underwent upper gastrointestinal endoscopy between 01.01.2011-31.12.2017. A total of 3005 patients, diagnosed with erosive esophagitis, were included in the present study and stratified according to Los Angeles classification.Results: During the studied period we found 3005 patients with erosive esophagitis, sex ratio male to female was 1.3/1, the most common forms of esophagitis being grade A and B: 74.54% patients with esophagitis grade A, 14.80% patients with grade B; 5.29% patients were with grade C and 5.35% patients with esophagitis grade D. In severe esophagitis the male predominance was more prevalent (249 males, 71 female), with a sex ratio 3.50/1. The correlation of male gender with severe esophagitis was highly statistically significant (p < 0.0001, OR 2.97; 95% CI 2.25-3.91). Hiatal hernia was diagnosed in 1171 patients, the presence of large hiatal hernias, being an important predictor, with statistical significance (p < 0.0001, OR 3.41; 95% CI 2.22-5.21), for severe esophagitis development. Incidence of Helicobacter pylori infection was 11.51%, in the entire study group, with no statistical significant difference between patients with mild or severe esophagitis (12.02% vs 7.18%).Conclusion: Erosive esophagitis is a frequent disease, the most common forms being grade A and B. Male gender and the presence of hiatal hernia are the most important risk factors for erosive esophagitis development, in our study group.

The Dynamics of Central European Equity Market Integration

2005 ◽  
Author(s):  
Claire G. Gilmore ◽  
Brian M. Lucey ◽  
Ginette M. McManus
Keyword(s):  
Market Integration ◽  
Equity Market ◽  
Central European ◽  
European Equity

scholarly journals Involvement of the Inconstant Bursa of the Fifth Metatarsophalangeal Joint in Psoriatic Arthritis: A Clinical and Ultrasonographic Study

2014 ◽  
Vol 2014 ◽  
pp. 1-5 ◽  
Author(s):  
Giovanni Ciancio ◽  
Stefania Volpinari ◽  
Maria Fotinidi ◽  
Federica Furini ◽  
Ilaria Farina ◽  
...  
Keyword(s):  
Psoriatic Arthritis ◽  
Healthy Subjects ◽  
Statistical Significance ◽  
Metatarsophalangeal Joint ◽  
Metatarsal Bone ◽  
The Other ◽  
Control Group ◽  
Asymptomatic Patients ◽  
Seronegative Spondyloarthritis ◽  
The Difference

Objective. To evaluate the involvement of the bursa located next to the head of the 5th metatarsal bone in patients with psoriatic arthritis (PsA) in comparison with the other seronegative spondyloarthritis (SpA).Methods. All patients with PsA seen during a period of 24 months were enrolled. The control group included healthy subjects and patients with the other SpA. All subjects underwent clinical and ultrasound (US) examination of the lateral surface of the 5th metatarsal.Results. 150 PsA patients (88 M; 62 F), 172 SpA (107 M; 65 F), and 95 healthy controls (58 M; 37 F) were evaluated. Based on clinical and US evaluation, bursitis was diagnosed in 17/150 (11.3%) PsA patients but in none of the SpA (P<0.0001) and healthy (P=0.0002) controls. In detecting bursitis, US was more sensitive than clinical examination, although the difference did not reach statistical significance (P=0.09).Conclusion. The bursa of the 5th metatarsophalangeal joint appears to be involved in PsA more frequently than by chance. If confirmed by other studies, this finding could be considered as a distinctive clinical sign of PsA, useful for differential diagnosis with the other SpA. In asymptomatic patients, US proved to be more sensitive in the detection of bursitis.

Oxidation of combined ingestion of glucose and fructose during exercise

2004 ◽  
Vol 96 (4) ◽  
pp. 1277-1284 ◽  
Author(s):  
Roy L. P. G. Jentjens ◽  
Luke Moseley ◽  
Rosemary H. Waring ◽  
Leslie K. Harding ◽  
Asker E. Jeukendrup
Keyword(s):  
Power Output ◽  
Statistical Significance ◽  
Random Order ◽  
Carbohydrate Oxidation ◽  
Maximum Power ◽  
The Other ◽  
Cycling Exercise ◽  
Oxidation Rates ◽  
Maximum Power Output ◽  
Exercise Period

The purpose of the present study was to examine whether combined ingestion of a large amount of fructose and glucose during cycling exercise would lead to exogenous carbohydrate oxidation rates >1 g/min. Eight trained cyclists (maximal O2consumption: 62 ± 3 ml·kg-1·min-1) performed four exercise trials in random order. Each trial consisted of 120 min of cycling at 50% maximum power output (63 ± 2% maximal O2consumption), while subjects received a solution providing either 1.2 g/min of glucose (Med-Glu), 1.8 g/min of glucose (High-Glu), 0.6 g/min of fructose + 1.2 g/min of glucose (Fruc+Glu), or water. The ingested fructose was labeled with [U-13C]fructose, and the ingested glucose was labeled with [U-14C]glucose. Peak exogenous carbohydrate oxidation rates were ∼55% higher ( P < 0.001) in Fruc+Glu (1.26 ± 0.07 g/min) compared with Med-Glu and High-Glu (0.80 ± 0.04 and 0.83 ± 0.05 g/min, respectively). Furthermore, the average exogenous carbohydrate oxidation rates over the 60- to 120-min exercise period were higher ( P < 0.001) in Fruc+Glu compared with Med-Glu and High-Glu (1.16 ± 0.06, 0.75 ± 0.04, and 0.75 ± 0.04 g/min, respectively). There was a trend toward a lower endogenous carbohydrate oxidation in Fruc+Glu compared with the other two carbohydrate trials, but this failed to reach statistical significance ( P = 0.075). The present results demonstrate that, when fructose and glucose are ingested simultaneously at high rates during cycling exercise, exogenous carbohydrate oxidation rates can reach peak values of ∼1.3 g/min.

scholarly journals Dissimulation and Memory in Early Modern Poland-Lithuania: the Art of Forgetting

Slavic Review ◽  
2017 ◽  
Vol 76 (1) ◽  
pp. 98-121 ◽  
Author(s):  
Maria Ivanova ◽  
Michelle R. Viise
Keyword(s):  
Early Modern ◽  
The Other ◽  
Society Of Jesus ◽  
Leading Role ◽  
Mission Work ◽  
The Church ◽  
Positive Reason

The most well-known practitioner of dissimulation among early modern Christians of the Eastern Rite is Meletii Smotryts'kyi (ca. 1577–1633), the Orthodox archbishop of Polatsk (in modern-day Belarus), who was suspected of being a Uniate for several years before he was openly charged with apostasy during a council of the Orthodox hierarchy of Poland-Lithuania in August of 1628. For the previous year Smotryts'kyi had lived a double life, outwardly an Orthodox archbishop but secretly a Uniate, having formally accepted the Union with Rome on July 6, 1627. In this period of clandestine Uniatism and the years leading up to it, during which he flirted with conversion, Smotryts'kyi fulfilled his official duties, playing a leading role in Orthodox synods and risking exposure that would bring public disgrace and even physical harm. Smotryts'kyi had a positive reason for keeping his conversion secret: he argued that the Congregation of the Holy Office of the Inquisition should allow him to remain in office as an Orthodox bishop so that he might convene a council of the Orthodox hierarchy and elite and, “received as a schismatic [an Orthodox], would be able to set forth and to explain the twofold causes of the present discord of the Church & and to cause doubt for them in the schismatic faith (through the reasons that had taught him himself that there was no contradiction in thing [essence], only in words, between the holy Greek and Latin fathers).” Smotryts'kyi concluded his request for secrecy by comparing his situation with that of Jesuits engaged in mission work with non-Christians: “Wherefore, indeed, if the fathers of the Society of Jesus and the other priests in India can live with the heathens in secular habit, this should cause no one scandal, especially since, with God’s help, we will hope for the much greater fruit of holy Union from his hidden Catholicism & than if he were now known by all.”

Alteration in the Proportion of CD4 T Lymphocytes in a Subgroup of Human Immunodeficiency Virus-Exposed-Uninfected Children

PEDIATRICS ◽  
1994 ◽  
Vol 93 (4) ◽  
pp. 624-630
Author(s):  
Matthew Gesner ◽  
Vana Papaevangelou ◽  
Song-He Chen ◽  
Tiina Moore ◽  
Keith Krasinski ◽  
...  
Keyword(s):  
Human Immunodeficiency Virus ◽  
Statistical Significance ◽  
Weighted Average ◽  
Rate Of Change ◽  
Entire Study ◽  
Age Related ◽  
Wilcoxon Rank Sum Test ◽  
Immunodeficiency Virus ◽  
Cd4 Lymphocyte ◽  
Cd4 Percentage

Objective. The age-related changes in the proportion of CD4 and CD8 lymphocytes in human immunodeficiency virus (HIV)-seronegative children born to HIV-infected mothers (seroreverters) were compared with the changes in these lymphocyte subsets in children born to seronegative women to assess a possible effect of exposure to HIV without infection. Design. There were 146 seroreverter and 72 seronegative children. The median CD4 and CD8 percentages for each of these two groups of children were compared retrospectively at 3-month intervals from birth through 27 months and at a tenth interval for the time beyond 27 months. The weighted average of the within-subject rate of change of CD4 and CD8 percentages were also compared between the two groups. Finally, for each subject, the proportion of the subject's CD4 percentage assays which were &lt;10th percentile of the entire study population (30%) was calculated, and the distributions of the subject-specific proportions were then compared between the seronegative and seroreverter groups using the Wilcoxon rank sum test. The proportion of CD8 assays &lt;10th percentile (12%) or &gt;90th percentile (26%) were also computed for each subject, and the distributions of the proportions were compared similarily. Results. The median CD4 percentage for seroreverter children was lower than that for the seronegative children at every interval from birth through 27 months and for the last interval for values obtained at greater than 27 months, although the comparison was statistically significant only at the 4- to 6-month period. The weighted average of the within-subject rate of change of CD4 percentage was -0.09 and -3.0 per year (P .04), and of CD8 percentage was 1.3 and 1.0 (P = .67), for the seroreverter and seronegative children, respectively. There were significantly more children in the seroreverter group than in the seronegative group who had repeated assays in which the CD4 percentage was &lt;10th percentile for age (P &lt;.00005). In addition, there was a subset of 10 seroreverter children (6.8%) who had CD4 percentages &lt;30% on &gt;50% of their assays, as compared with only one (1.4%) seronegative child. The proportion of CD8 assays &lt;10th percentile or &gt;90th percentile were not significantly different between the two groups of children. Conclusions. The CD4 proportions were persistently lower in the seroreverter than in the seronegative population, although only reaching statistical significance in 1 of 10 3-month intervals. This finding may be due to a subgroup of seroreverter children who have persistently low CD4 lymphocyte percentages.

International Cooperation and Natural Disasters: Evidence from Trade Agreements

2021 ◽  
Author(s):  
Aleksandra Conevska
Keyword(s):  
Natural Disasters ◽  
Global Economy ◽  
Market Integration ◽  
Trade Agreements ◽  
Economic Consequences ◽  
Exogenous Shocks ◽  
Trading Partners ◽  
Environmental Shocks ◽  
The Impact ◽  
Domestic Economies

Abstract Environmental shocks in the form of natural disasters are well known for their impact on domestic economies. Less known, however, is their impact on the global economy. The scant existing literature suggests that macro-economic impacts manifest in observed empirical decreases in international trade. The literature, however, does not examine whether the impact of natural disasters on trade varies for trading partners with differing levels of market integration. This paper examines if preferential liberalization serves to protect or buffer against the negative economic consequences of natural disasters. I show that deep preferential liberalization can not only protect countries against the negative macro-economic impact of natural disasters but can actually allow countries to increase exports during natural disaster events that otherwise induce trade decline. These findings suggest that by allowing countries to expand the quantity and the range of exports, preferential trade agreements lead to enhanced resilience against exogenous shocks.

scholarly journals The Other Half of the Story: Effect Size Analysis in Quantitative Research

2013 ◽  
Vol 12 (3) ◽  
pp. 345-351 ◽  
Author(s):  
Jessica Middlemis Maher ◽  
Jonathan C. Markey ◽  
Diane Ebert-May
Keyword(s):  
Educational Research ◽  
Effect Size ◽  
Quantitative Research ◽  
Statistical Significance ◽  
The Other ◽  
Practical Significance ◽  
Significance Testing ◽  
Size Analysis ◽  
Significance Tests ◽  
Statistical Significance Testing

Statistical significance testing is the cornerstone of quantitative research, but studies that fail to report measures of effect size are potentially missing a robust part of the analysis. We provide a rationale for why effect size measures should be included in quantitative discipline-based education research. Examples from both biological and educational research demonstrate the utility of effect size for evaluating practical significance. We also provide details about some effect size indices that are paired with common statistical significance tests used in educational research and offer general suggestions for interpreting effect size measures. Finally, we discuss some inherent limitations of effect size measures and provide further recommendations about reporting confidence intervals.

scholarly journals An analysis of CEE equity market integration and their volatility spillover effects

2019 ◽  
Vol 29 (1) ◽  
pp. 23-40 ◽  
Author(s):  
Ngo Thai Hung
Keyword(s):  
Market Integration ◽  
Design Methodology ◽  
Spillover Effects ◽  
Equity Market ◽  
Multivariate Garch ◽  
The Czech Republic ◽  
Content Type ◽  
Volatility Spillovers ◽  
Conditional Correlations ◽  
Practical Implications

Purpose The purpose of this paper is to examine the conditional correlations and spillovers of volatilities across CEE markets, namely, Hungary, Poland, the Czech Republic, Romania and Croatia, in the post-2007 financial crisis period. Design/methodology/approach The authors use five-dimensional GARCH-BEKK alongside with the CCC and DCC models. Findings The estimation results of the three models generally demonstrate that the correlations between these markets are particularly significant. Also, own-volatility spillovers are generally lower than cross-volatility spillovers for all markets. Practical implications These results recommend that investors should take caution when investing in the CEE equity markets as well as diversifying their portfolios so as to minimize risk. Originality/value Unlike the previous studies in this field, this paper is the first study using multivariate GARCH-BEKK alongside with CCC and DCC models. The study makes an outstanding contribution to the existing literature on spillover effects and conditional correlations in the CEE financial stock markets.

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