scholarly journals Performance analysis of healthcare-focused special purpose acquisition companies

2021 ◽  
Vol 18 (4) ◽  
pp. 150-165
Author(s):  
Gimede Gigante ◽  
Daniele Notarnicola
Keyword(s):  
Private Equity ◽  
Structural Changes ◽  
Market Performance ◽  
Investment Banks ◽  
Healthcare Industry ◽  
Significance Level ◽  
The Difference ◽  
High Level ◽  
Start Ups ◽  
Special Purpose Acquisition Companies

The Covid-19 pandemic has accelerated some structural changes in the healthcare industry, and several health-tech start-ups thrived by providing innovative solutions to the challenges imposed by the pandemic. To finance their growth, many of these companies went through mergers with Special Purpose Acquisition Companies (SPACs). The paper investigates the market performance of healthcare-focused US-listed SPACs. The study aims to analyze the returns that healthcare SPACs offer to their investors and ascertain the determinants that drive these returns over a sample of 33 SPACs that merged with a healthcare firm between 2018 and 2021. Linear regression is employed to identify the drivers of SPACs’ market performance. Portfolio analysis is also performed and compared against the Russell 2000 and the S&P500 Healthcare Indexes.The first outcome accomplished by the analysis is that a portfolio made of healthcare-SPACs underperforms small-cap firms by 2.14% and the healthcare industry by 6.72% over a two-year period, even if the difference in the returns of the healthcare SPACs portfolio and the two benchmarks is not statistically significant. Moreover, a high level of redemptions, the presence of serial SPAC sponsors, cross-border deals, private equity and venture capital funds as sellers, and a high percentage of boutique investment banks among the sell-side advisors seem to negatively affect the returns of healthcare-focused SPACs with a significance level of at least 10%. Instead, a larger number of buy-side advisors appears to be beneficial for healthcare-focused SPACs’ market performance.

Difference of [Ca2+]i Movements in Platelets Stimulated by Thrombin and TRAP: the Involvement of αIIbβ3-Mediated TXA2 Synthesis

1998 ◽  
Vol 79 (06) ◽  
pp. 1184-1190 ◽  
Author(s):  
Yoshiaki Tomiyama ◽  
Shigenori Honda ◽  
Kayoko Senzaki ◽  
Akito Tanaka ◽  
Mitsuru Okubo ◽  
...  
Keyword(s):  
Platelet Aggregation ◽  
Fibrinogen Binding ◽  
Adp Release ◽  
The Difference ◽  
Txa2 Receptor Antagonist ◽  
High Level ◽  
Inhibition Studies ◽  
Peak Increase ◽  
Second Peak ◽  
Assay Conditions

SummaryThis study investigated the difference of [Ca2+]i movement in platelets in response to thrombin and TRAP. The involvement of αIIbβ3 in this signaling was also studied. Stimulation of platelets with thrombin at 0.03 U/ml caused platelet aggregation and a two-peak increase in [Ca2+]i. The second peak of [Ca2+]i, but not the first peak was abolished by the inhibition of platelet aggregation with αIIbβ3 antagonists or by scavenging endogenous ADP with apyrase. A cyclooxygenase inhibitor, aspirin, and a TXA2 receptor antagonist, BM13505, also abolished the second peak of [Ca2+]i but not the first peak, although these regents did not inhibit aggregation. Under the same assay conditions, measurement of TXB2 demonstrated that αIIbβ3 antagonists and aspirin almost completely inhibited the production of TXB2. In contrast to thrombin-stimulation, TRAP caused only a single peak of [Ca2+]i even in the presence of platelet aggregation, and a high level of [Ca2+]i increase was needed for the induction of platelet aggregation. The inhibition of aggregation with αIIbβ3 antagonists had no effect on [Ca2+]i change and TXB2 production induced by TRAP. Inhibition studies using anti-GPIb antibodies suggested that GPIb may be involved in the thrombin response, but not in the TRAP. Our findings suggest that low dose thrombin causes a different [Ca2+]i response and TXA2 producing signal from TRAP. Endogenous ADP release and fibrinogen binding to αIIbβ3 are responsible for the synthesis of TXA2 which results in the induction of the second peak of [Ca2+]i in low thrombin- but not TRAP-stimulated platelets.

THE IMPACT OF UKRAINE'S EXCISE DUTY POLICY ON THE TRANSFORMATION PROCESSES OF THE TOBACCO MARKET

2020 ◽  
Vol 2020 (10) ◽  
pp. 19-33
Author(s):  
Nadiia NOVYTSKA ◽  
◽  
Inna KHLIEBNIKOVA ◽  
Keyword(s):  
Structural Changes ◽  
Tax Avoidance ◽  
Transformation Process ◽  
State Regulation ◽  
Tobacco Products ◽  
Excise Duty ◽  
Increasing Demand ◽  
High Level ◽  
The Impact ◽  
Transformation Processes

The market of tobacco products in Ukraine is one of the most dynamic and competitive. It develops under the influence of certain factors that cause structural changes, therefore, the aim of the article is to conduct a comprehensive analysis of transformation processes in the market of tobacco and their alternatives in Ukraine and identify the factors that cause them. The high level of tax burden and the proliferation of alternative products with a potentially lower risk to human health, including heating tobacco products and e-cigarettes, are key factors in the market’s transformation process. Their presence leads to an increase in illicit turnover of tobacco products, which accounts for 6.37% of the market, and the gradual replacement of cigarettes with alternative products, which account for 12.95%. The presence on the market of products that are not taxed or taxed at lower rates is one of the reasons for the reduction of excise duty revenues. According to the results of 2019, the planned indicators of revenues were not met by 23.5%. Other reasons for non-fulfillment of excise duty revenues include: declining dynamics of the tobacco products market; reduction in the number of smokers; reorientation of «cheap whites» cigarette flows from Ukraine to neighboring countries; tax avoidance. Prospects for further research are identified, namely the need to develop measures for state regulation and optimization of excise duty taxation of tobacco products and their alternatives, taking into account the risks to public health and increasing demand of illegal products.

ATTITUDE TO OPEN ACCESS IN RUSSIAN SCHOLARLY COMMUNITY: 2018. SURVEY RESULTS AND ANALYSIS

2018 ◽  
Vol 1 (1) ◽  
pp. 6-21 ◽  
Author(s):  
I. K. Razumova ◽  
N. N. Litvinova ◽  
M. E. Shvartsman ◽  
A. Yu. Kuznetsov
Keyword(s):  
Open Access ◽  
Open Access Publishing ◽  
Scholarly Community ◽  
Research Areas ◽  
Survey Results ◽  
The Difference ◽  
Policies And Programs ◽  
The Uk ◽  
High Level ◽  
Access Policies

Introduction. The paper presents survey results on the awareness towards and practice of Open Access scholarly publishing among Russian academics.Materials and Methods. We employed methods of statistical analysis of survey results. Materials comprise results of data processing of Russian survey conducted in 2018 and published results of the latest international surveys. The survey comprised 1383 respondents from 182 organizations. We performed comparative studies of the responses from academics and research institutions as well as different research areas. The study compares results obtained in Russia with the recently published results of surveys conducted in the United Kingdom and Europe.Results. Our findings show that 95% of Russian respondents support open access, 94% agree to post their publications in open repositories and 75% have experience in open access publishing. We did not find any difference in the awareness and attitude towards open access among seven reference groups. Our analysis revealed the difference in the structure of open access publications of the authors from universities and research institutes. Discussion andConclusions. Results reveal a high level of awareness and support to open access and succeful practice in the open access publications in the Russian scholarly community. The results for Russia demonstrate close similarity with the results of the UK academics. The governmental open access policies and programs would foster the practical realization of the open access in Russia.

Folding-Controlled Assembly of Ortho-Phenylene-Based Macrocycles

2020 ◽  
Author(s):  
Viraj kirinda ◽  
Scott Hartley
Keyword(s):  
Self Assembly ◽  
Structural Control ◽  
Structural Changes ◽  
Condensation Product ◽  
Gel Permeation Chromatography ◽  
Emergent Behavior ◽  
Order Structure ◽  
High Level ◽  
Alkoxy Groups ◽  
Energy Surfaces

The self-assembly of foldamers into macrocycles is a simple approach to non-biological higher-order structure. Previous work on the co-assembly of ortho-phenylene foldamers with rod-shaped linkers has shown that folding and self-assembly affect each other; that is, the combination leads to new emergent behavior, such as access to otherwise unfavorable folding states. To this point this relationship has been passive. Here, we demonstrate control of self-assembly by manipulating the foldamers’ conformational energy surfaces. A series of o-phenylene decamers and octamers have been assembled into macrocycles using imine condensation. Product distributions were analyzed by gel-permeation chromatography and molecular geometries extracted from a combination of NMR spectroscopy and computational chemistry. The assembly of o-phenylene decamers functionalized with alkoxy groups or hydrogens gives both [2+2] and [3+3] macrocycles. The mixture results from a subtle balance of entropic and enthalpic effects in these systems: the smaller [2+2] macrocycles are entropically favored but require the oligomer to misfold, whereas a perfectly folded decamer fits well within the larger [3+3] macrocycle that is entropically disfavored. Changing the substituents to fluoro groups, however, shifts assembly quantitatively to the [3+3] macrocycle products, even though the structural changes are well-removed from the functional groups directly participating in bond formation. The electron-withdrawing groups favor folding in these systems by strengthening arene–arene stacking interactions, increasing the enthalpic penalty to misfolding. The architectural changes are substantial even though the chemical perturbation is small: analogous o-phenylene octamers do not fit within macrocycles when perfectly folded, and quantitatively misfold to give small macrocycles regardless of substitution. Taken together, these results represent both a high level of structural control in structurally complex foldamer systems and the demonstration of large-amplitude structural changes as a consequence of a small structural effects.

Results of studying the dimensional accuracy of the bases of complete removable prostheses made using 3D printing and traditional technologies

2020 ◽  
pp. 34-39
Author(s):  
Vokulova Yu.A. Vokulova ◽  
E.N. Zhulev
Keyword(s):  
3D Printing ◽  
Traditional Method ◽  
Laser Scanning ◽  
Laser Scanner ◽  
Digital Technologies ◽  
Dimensional Accuracy ◽  
3D Printer ◽  
Significance Level ◽  
Average Value ◽  
The Difference

This article presents the results of studying the dimensional accuracy of the bases of complete removable prostheses made using a 3D printer and the traditional method. Bases of complete removable prostheses were made using an intraoral laser scanner iTero Cadent (USA) and a 3D printer Asiga Max UV (Australia). To study the dimensional accuracy of the bases of complete removable prostheses, we used the DentalCAD 2.2 Valletta software. The Nonparametric Wilcoxon W-test was used for statistical analysis of the obtained data. We found that the average value of the difference with the standard for bases made using digital technologies is 0.08744±0.0484 mm. The average value of the difference with the standard for bases made by the traditional method is 0.5654±0.1611 mm. Based on these data, we concluded that the bases of complete removable prostheses made using modern digital technologies (intraoral laser scanning and 3D printer) have a higher dimensional accuracy compared to the bases of complete removable prostheses made using the traditional method with a significance level of p<0.05 (Wilcoxon's W-test=0, p=0.031). Keywords: digital technologies in dentistry, digital impressions, intraoral scanner, 3D printing, ExoCAD, complete removable dentures.

Quantitative indicators of air traffic controllers’ attitude to the danger of errors

2020 ◽  
pp. 68-78
Author(s):  
O. M. Reva ◽  
V. V. Kamyshin ◽  
S. P. Borsuk ◽  
V. A. Shulhin ◽  
A. V. Nevynitsyn
Keyword(s):  
Human Factor ◽  
Differential Method ◽  
Air Traffic ◽  
Professional Activity ◽  
Aviation Accidents ◽  
Air Traffic Controllers ◽  
The Difference ◽  
Level Of Significance ◽  
The Individual ◽  
High Level

The negative and persistent impact of the human factor on the statistics of aviation accidents and serious incidents makes proactive studies of the attitude of “front line” aviation operators (air traffic controllers, flight crewmembers) to dangerous actions or professional conditions as a key component of the current paradigm of ICAO safety concept. This “attitude” is determined through the indicators of the influence of the human factor on decision-making, which also include the systems of preferences of air traffic controllers on the indicators and characteristics of professional activity, illustrating both the individual perception of potential risks and dangers, and the peculiarities of generalized group thinking that have developed in a particular society. Preference systems are an ordered (ranked) series of n = 21 errors: from the most dangerous to the least dangerous and characterize only the danger preference of one error over another. The degree of this preference is determined only by the difference in the ranks of the errors and does not answer the question of how much time one error is more dangerous in relation to another. The differential method for identifying the comparative danger of errors, as well as the multistep technology for identifying and filtering out marginal opinions were applied. From the initial sample of m = 37 professional air traffic controllers, two subgroups mB=20 and mG=7 people were identified with statisti-cally significant at a high level of significance within the group consistency of opinions a = 1%. Nonpara-metric optimization of the corresponding group preference systems resulted in Kemeny’s medians, in which the related (middle) ranks were missing. Based on these medians, weighted coefficients of error hazards were determined by the mathematical prioritization method. It is substantiated that with the ac-cepted accuracy of calculations, the results obtained at the second iteration of this method are more ac-ceptable. The values of the error hazard coefficients, together with their ranks established in the preference systems, allow a more complete quantitative and qualitative analysis of the attitude of both individual air traffic controllers and their professional groups to hazardous actions or conditions.

The concepts and features of the models of venture investment of energy-oriented startups

2019 ◽  
pp. 74-78
Author(s):  
Oleh Pankiv
Keyword(s):  
Power Plants ◽  
Public Procurement ◽  
Financial Resources ◽  
Managerial Decisions ◽  
Potential Formation ◽  
The Difference ◽  
Alternative Sources ◽  
Methodological Principles ◽  
Profile Characteristics ◽  
Start Ups

The theoretical and methodological principles of promising managerial decisions concerning the efficiency of attracting financial resources, as well as creation of fundamentally new sources of funding for the development of energy-oriented start-ups are considered. The role and place of the sectors of innovative energy saving and alternative sources of power supply in a complex system of energy independence of the country are determined. The way and the main directions of research and development of the ways to solve the aforementioned problem are outlined. As part of the search for optimization solutions, it is suggested to use the principles of the existing statistical and mathematical apparatus, marketing achievements and achievements in network development that take place in gaming business. An analogue comparison of the principal models was carried out, during which the existing types of energy-oriented start-ups were determined and presented. A separate direction in the economic search is proposed, and its profile characteristics are outlined. The type of model is typical for Ukrainian conditions. The author proposed a method of comparing strategies for attracting financial resources into a gaming business in the core of the research. To solve the investigated problem, it is proposed to apply the property of the law of the emergence. The analysis is based on a concrete example of the functioning of the tender procedure, namely the organization of public procurement. The purpose of the article is to consider and analyze the author's proposal to focus on such an important phenomenon as the constant creation of the difference between the expected price and the final contractual price. The model of the solution is based on the systematic combination of this phenomenon and the administrative stimulation of implementation of exclusively energy-innovation projects. The combination of these two points is the basis of an optimization policy for the potential formation and maintenance of a state program to search and stimulate the sources of funding for power plants.

Behavioural Economic Influences on Primary Market Disclosure – The Case of the EU Regulation on European Crowdfunding Service Providers

2021 ◽  
Vol 18 (3) ◽  
pp. 428-463
Author(s):  
Konstantinos Serdaris
Keyword(s):  
Service Providers ◽  
Preliminary Evaluation ◽  
Full Disclosure ◽  
Content Quality ◽  
Platform Governance ◽  
Capital Markets Union ◽  
Alternative Means ◽  
High Level ◽  
Start Ups ◽  
The Eu

Abstract On 5 October 2020, as part of the Capital Markets Union (CMU) project, the European Parliament adopted, in second reading, Regulation (EU) 2020/1503 on European crowdfunding service providers for business (‘ECSP Regulation’). This Regulation, which shall apply as of 10 November 2021, consists of rules which aim at improving access to crowdfunding for EU businesses in need of capital, particularly start-ups, while, at the same time, providing a high level of protection to investors. To attain that it builds on three sets of measures: clear rules on information disclosures for project owners and crowdfunding platforms; rules on platform governance and risk management; and a coherent approach to supervision and enforcement. The focus of this article is on the disclosure-related set of provisions. Its aim is to demonstrate how the new rules embrace a more behavioural approach to primary market disclosure which, in contrast to the paradigm of full disclosure, focuses on the content, quality and framing of disclosure as an alternative means of enabling informed and, thus, allocatively efficient investment decisions. In a second step, it seeks to provide a preliminary evaluation of these measures both from a practical and a normative perspective.

scholarly journals Kecenderungan dan Perubahan Hujan Ekstrem Harian di Pulau Madura

2020 ◽  
Vol 18 (1) ◽  
pp. 89-96
Author(s):  
Ahmad Nur Akma Juangga Fura ◽  
Retno Utami Agung Wiyono ◽  
Indarto Indarto
Keyword(s):  
Flood Hazard ◽  
Parametric Method ◽  
Extreme Rainfall ◽  
Kendall Test ◽  
Random Processes ◽  
Rain Gauge ◽  
Rainfall Trend ◽  
Significance Level ◽  
High Level ◽  
Crossing Test

Madura subject to a high level of flood hazard. One of the main causes of flood is extreme rainfall. Global warming generates changes in the amount of extreme rainfall. This research is conducted to identify and to analyze the trends, changes, and randomness of 24-hour extreme rainfall data on Madura Island. The method used is a non-parametric method which includes the Median Crossing test, the Mann-Kendall test, and the Rank-Sum test at the significance level of α =0.05. The analysis was carried out on 31 rain gauge stations. The recording period observed is between 1991-2015. The results of the analysis show that based on the Median Crossing test, most rainfall stations have data originating from random processes. The result shows also that the maximum 24-hour extreme rainfall trend is significantly decreased in a few locations, while for the majority of other stations have no experience a significant trend.

scholarly journals A Modified KNN Algorithm for High-Performance Computing on FPGA of Real-Time m-QAM Demodulators

Electronics ◽  
2021 ◽  
Vol 10 (5) ◽  
pp. 627
Author(s):  
David Marquez-Viloria ◽  
Luis Castano-Londono ◽  
Neil Guerrero-Gonzalez
Keyword(s):  
Real Time ◽  
High Performance ◽  
Interference Mitigation ◽  
Parallel Implementation ◽  
Computational Time ◽  
Successful Implementation ◽  
Interchannel Interference ◽  
The Difference ◽  
High Level ◽  
Performance Computing

A methodology for scalable and concurrent real-time implementation of highly recurrent algorithms is presented and experimentally validated using the AWS-FPGA. This paper presents a parallel implementation of a KNN algorithm focused on the m-QAM demodulators using high-level synthesis for fast prototyping, parameterization, and scalability of the design. The proposed design shows the successful implementation of the KNN algorithm for interchannel interference mitigation in a 3 × 16 Gbaud 16-QAM Nyquist WDM system. Additionally, we present a modified version of the KNN algorithm in which comparisons among data symbols are reduced by identifying the closest neighbor using the rule of the 8-connected clusters used for image processing. Real-time implementation of the modified KNN on a Xilinx Virtex UltraScale+ VU9P AWS-FPGA board was compared with the results obtained in previous work using the same data from the same experimental setup but offline DSP using Matlab. The results show that the difference is negligible below FEC limit. Additionally, the modified KNN shows a reduction of operations from 43 percent to 75 percent, depending on the symbol’s position in the constellation, achieving a reduction 47.25% reduction in total computational time for 100 K input symbols processed on 20 parallel cores compared to the KNN algorithm.

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