scholarly journals The Introduction and Effect of SAFE in Equity-Based Crowdfunding

2020 ◽  
Vol 49 (2) ◽  
pp. 189-215
Author(s):  
Joo Young Jung ◽  
Ji Yeol Jimmy Oh
Keyword(s):  
Financial Performance ◽  
Investor Protection ◽  
Cash Flows ◽  
Potential Solution ◽  
Corporate Value ◽  
Market Capitalization ◽  
Minimum Requirements ◽  
Definition Of

This study analyzes the valuation problems surrounding equity-based crowdfunding issuers and examines the introduction of the simple agreement for future equity (SAFE) as a means of solving them. We first analyze four stocks with crowdfunding experience listed on KONEX and K-OTC. In all instances, market capitalization consistently fell below the level at the time of the crowdfunding application. We therefore suggest the introduction of SAFE in crowdfunding as a potential solution. SAFE ameliorates the over-valuation problem by setting only minimum requirements such as valuation caps and by delaying the evaluation of corporate value until a follow-up investment is made. However, investor protection should be considered when introducing SAFE in Korea. First, the definition of “subsequent investments” should be clarified to prevent the issuer from intentionally delaying the transfer of shares. Second, the inclusion of financial performance in SAFE's share conversion conditions would prevent the firm from delaying share conversion while receiving favorable cash flows. Third, the scope of companies that can issue SAFE should be clearly defined to prevent firms from misusing them to avoid managerial interference. This study contributes as the first study within the Korean academia on the introduction and effectiveness of SAFE in crowdfunding.

scholarly journals Impact of Elimination of Dividend Distribution Tax on Indian Corporate Firms amid COVID Disruptions

2021 ◽  
Vol 14 (9) ◽  
pp. 413
Author(s):  
Anshu Agrawal
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Cash Flows ◽  
Market Capitalization ◽  
Factors Associated ◽  
Financial Firms ◽  
Dividend Payments ◽  
Dividend Distribution ◽  
Free Cash Flows ◽  
The Impact

Economic fallouts from COVID-19 have been unprecedented across all industries, with a handful of exceptions. The present study attempts to capture the impact of dividend distribution tax elimination, introduced through the Indian Finance Act 2020, on corporate dividend behavior in India. It explores the determinants of dividend payouts, changing payout decisions, dividend behavior of regular payers, and the prevalence of factors associated with changing payouts. Out of the top 1000 firms, based on their market capitalization at the Bombay Stock Exchange, 509 non-financial firms pursuing consistent dividend payments from 2015 to 2019 are analyzed. The study also examines the dividend behavior of regular payers exhibiting a stable or step-up payout from 2015 to 2019. COVID’s impact on the firm’s financial performance and sentiments seems to dominate, suppressing investors’ expectations of enhanced payouts associated with dividend distribution tax advantages, with considerable reductions in payouts and omissions shown by regular and irregular payers in 2020 and 2021 vis-à-vis the preceding years. The findings signify that the dividend payouts of sample firms are positively associated with the firms’ size, MBV ratio, and past dividends, and negatively allied with free cash flows and the EBITDA margin. Regular payers are observed to be more sensitive to past dividends. The study lends credence to the conservatism and prevalence of signaling and catering theories in the dividend behavior of Indian corporate firms.

Comparison of Fluorine(18)-fluorodeoxyglucose and Gallium(68)-citrate PET/CT in patients with tuberculosis

2019 ◽  
Vol 58 (05) ◽  
pp. 371-378
Author(s):  
Alfred O. Ankrah ◽  
Ismaheel O. Lawal ◽  
Tebatso M.G. Boshomane ◽  
Hans C. Klein ◽  
Thomas Ebenhan ◽  
...  
Keyword(s):  
Tracer Uptake ◽  
Pet Ct ◽  
The Mean ◽  
18F Fdg ◽  
Definition Of ◽  
Gallium 68 ◽  
Attending Physician ◽  
Pet Scans ◽  
The Brain

Abstract 18F-FDG and 68Ga-citrate PET/CT have both been shown to be useful in the management of tuberculosis (TB). We compared the abnormal PET findings of 18F-FDG- and 68Ga-citrate-PET/CT in patients with TB. Methods Patients with TB on anti-TB therapy were included. Patients had a set of PET scans consisting of both 18F-FDG and 68Ga-citrate. Abnormal lesions were identified, and the two sets of scans were compared. The scan findings were correlated to the clinical data as provided by the attending physician. Results 46 PET/CT scans were performed in 18 patients, 11 (61 %) were female, and the mean age was 35.7 ± 13.5 years. Five patients also had both studies for follow-up reasons during the use of anti-TB therapy. Thirteen patients were co-infected with HIV. 18F-FDG detected more lesions than 68Ga-citrate (261 vs. 166, p < 0.0001). 68Ga-citrate showed a better definition of intracerebral lesions due to the absence of tracer uptake in the brain. The mean SUVmax was higher for 18F-FDG compared to 68Ga-citrate (5.73 vs. 3.01, p < 0.0001). We found a significant correlation between the SUVmax of lesions that were determined by both tracers (r = 0.4968, p < 0.0001). Conclusion Preliminary data shows 18F-FDG-PET detects more abnormal lesions in TB compared to 68Ga-citrate. However, 68Ga-citrate has better lesion definition in the brain and is therefore especially useful when intracranial TB is suspected.

The Influence of Human Capital on Financial Performance and Corporate Value

2019 ◽  
Vol 10 (1) ◽  
pp. 47-56
Author(s):  
MULYANINGTYAS MULYANINGTYAS
Keyword(s):  
Human Capital ◽  
Financial Performance ◽  
Firm Value ◽  
Stock Exchange ◽  
Learning Experience ◽  
Vital Role ◽  
Knowledge Capital ◽  
Corporate Value ◽  
Descriptive Approach ◽  
A Company

Human Capital (HC) reflects the knowledge capital of employees of an organization. In this era there was a huge changes in the economic field where human capital would be a factor of production that has a vital role. One way to increase human capital for companies is to increase expertise through learning experience programs. Profitability is a reflection of the financial performance of a company and a company that is well aware of the management of Human Capital, because the good and bad of Human Capital will affect the company's financial position directly and affect the company's profitability in the end. This study aims to determine whether the influence of human capital on firm value with financial performance as an intervening variable in the banking companies on the IDX registered in 2012-2016. This study uses two approaches, namely descriptive approach and explanatory approach. The technique of determining the sample of this study was purposive sampling carried out on banking companies which during 2012 to 2016 were listed on the Indonesia Stock Exchange.

Biomarkers of Acromegaly and Growth Hormone Action

2020 ◽  
Vol 27 (12) ◽  
pp. 1231-1245
Author(s):  
Filippo Maffezzoni ◽  
Teresa Porcelli ◽  
Andrea Delbarba ◽  
Letizia Pezzaioli ◽  
Carlo Cappelli ◽  
...  
Keyword(s):  
Growth Hormone ◽  
Biological Markers ◽  
Clinical Care ◽  
Hormone Deficiency ◽  
Surrogate Outcomes ◽  
Current State ◽  
Growth Hormone Action ◽  
Igf I ◽  
Definition Of

: Biological markers (biomarkers) play a key role in drug development, regulatory approval and clinical care of patients and are linked to clinical and surrogate outcomes. : Both acromegaly and Growth Hormone Deficiency (GHD) are pathological conditions related to important comorbidities that, in addition to having stringent diagnostic criteria, require valid markers for the definition of treatment, treatment monitoring and follow-up. GH and insulin-like growth factor-I (IGF-I) are the main biomarkers of GH action in children and adults while, in acromegaly, both GH and IGF-I are established biomarkers of disease activity. : However, although GH and IGF-I are widely validated biomarkers of GHD and acromegaly, their role is not completely exhaustive or suitable for clinical classification and follow-up. Therefore, new biological markers for acromegaly and GH replacement therapy are strongly needed. : The aim of this paper is to review and summarize the current state in the field pointing out new potential biomarkers for acromegaly and GH use/abuse.

Sustainability Disclosure and the Financialization of Social Sustainability

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Daniela Woschnack ◽  
Stefanie Hiss ◽  
Sebastian Nagel ◽  
Bernd Teufel
Keyword(s):  
Content Analysis ◽  
Empirical Study ◽  
Financial Performance ◽  
Financial Market ◽  
Empirical Data ◽  
Qualitative Content Analysis ◽  
Social Sustainability ◽  
Rating Agencies ◽  
Sustainability Disclosure ◽  
Definition Of

Abstract This empirical study explores the financialization of social sustainability driven by sustainability accounting and reporting initiatives (SARIs). Since no globally accepted definition of what social sustainability encompasses exists, the paper asks how social sustainability is translated into the financial market language by SARIs as they provide standards for disclosing corporate non-financial performance and promote their concepts of social sustainability. The paper uses a two-step qualitative content analysis. First, it operationalizes social sustainability based on the empirical data of six sustainability rating agencies. Second, this operationalization is compared with the concepts created by three SARIs. The paper shows significant differences between the concepts of the SARIs and the rating agencies. While the rating agencies altogether interpret social sustainability with 83 distinct aspects, the SARIs, although differently created, use significant reduced concepts where 20% of these aspects are absent. The result of this financialization process could be a simplified and financially determined concept of social sustainability within die socially discourse. The research is limited to social sustainability and its financialization by SARIs. Individual indicators and their way or intensity to capture aspects of social sustainability were not part of the research interest. Further research should investigate the economic and the ecological pillars of sustainability as well as the usage of such financialized concepts within the society and especially by corporations. The paper unfolds the arbitrariness of operationalizing a qualitative phenomenon like social sustainability through the financial system. It discloses the need for looking at the mechanisms behind such processes and at the interests of the actors behind the frameworks. The paper reveals the financialization process driven by SARIs and demonstrates its simplifying effects on the concept of social sustainability. Furthermore, the paper shows that SARIs as metrics for non-financial aspects are troubled with a lack of transparency and a lack of convergence.

A Detailed Phenomenological Comparison of Complex Visual Hallucinations in Dementia With Lewy Bodies and Alzheimer's Disease

1997 ◽  
Vol 9 (4) ◽  
pp. 381-388 ◽  
Author(s):  
Clive Ballard ◽  
Ian McKeith ◽  
Richard Harrison ◽  
John O'Brien ◽  
Peter Thompson ◽  
...  
Keyword(s):  
Alzheimer’S Disease ◽  
Alzheimer's Disease ◽  
Dementia With Lewy Bodies ◽  
Lewy Bodies ◽  
Time Of Day ◽  
Visual Hallucinations ◽  
Dementia Patients ◽  
Core Feature ◽  
Definition Of

Visual hallucinations (VH) are a core feature of dementia with Lewy bodies (DLB), but little is known about their phenomenology. A total of 73 dementia patients (42 DLB, 30 Alzheimer's disease [AD], 1 undiagnosed) in contact with clinical services were assessed with a detailed standardized inventory. DLB was diagnosed according to the criteria of McKeith and colleagues, AD was diagnosed using the NINCDS-ADRDA criteria. Autopsy confirmation has been obtained when possible. VH were defined using the definition of Burns and colleagues. Detailed descriptions of hallucinatory experiences were recorded. Annual follow-up interviews were undertaken. The clinical diagnosis has been confirmed in 18 of the 19 cases that have come to autopsy. A total of 93% of DLB patients and 27% of AD patients experienced VH. DLB patients were significantly more likely to experience multiple VH that persisted over follow-up. They were significantly more likely to hear their VH speak but there were no significant differences in the other phenomenological characteristics including whether the hallucinations moved, the time of day that they were experienced, their size, the degree of insight, and whether they were complete. VH may be more likely to be multiple, to speak, and to be persistent in DLB patients. These characteristics could potentially aid accurate diagnosis.

583 Definition of mid-term MRI follow-up after focal therapy for clinically localized low risk prostate cancer

2013 ◽  
Vol 12 (1) ◽  
pp. e583-e584
Author(s):  
F. Mistretta ◽  
A. Losa ◽  
G. Cardone ◽  
M. Lazzeri ◽  
G.M. Gadda ◽  
...  
Keyword(s):  
Prostate Cancer ◽  
Focal Therapy ◽  
Low Risk ◽  
Risk Prostate Cancer ◽  
Low Risk Prostate Cancer ◽  
Definition Of

Effect of Method of Defining the Active Patient Population on Measured Immunization Rates in Predominantly Medicaid and Non-Medicaid Practices

PEDIATRICS ◽  
2000 ◽  
Vol 106 (Supplement_1) ◽  
pp. 171-176
Author(s):  
Ardythe L. Morrow ◽  
R. Clinton Crews ◽  
Henry J. Carretta ◽  
Mekibib Altaye ◽  
Albert B. Finch ◽  
...  
Keyword(s):  
Selection Criteria ◽  
Immunization Practice ◽  
Immunization Rate ◽  
The Past ◽  
Immunization Rates ◽  
Patient Selection Criteria ◽  
Definition Of ◽  
Practice Assessment ◽  
Active Patients

Objective. To examine the effect of patient selection criteria on immunization practice assessment outcomes. Methods. In 3 high- (50%–85%) and 7 low- (&lt;25%) Medicaid pediatric practices in urban eastern Virginia, we assessed immunization rates of children 12 and 24 months old comparing thestandard criteria (charts in the active files excluding those that documented the child moved or went elsewhere) with 3 alternative criteria for selecting active patients: 1)follow-up: the chart contained a complete immunization record or the patient was found to be active in the practice through follow-up contact by phone or mail; 2) seen in the past year: the chart indicated that the patient was seen in the practice in the past year; 3) consecutive: patients that were seen consecutively for any reason. Results. Of the 1823 charts assessed in the high- and low-Medicaid practices, follow-up identified 61% and 83% as active patients; 78% and 95% were ever seen in the past year. At 24 months, mean practice immunization rates were lower for standard (70%) than all 3 alternative criteria (78%–86%). Immunization rate differences between standard and alternative criteria were greater in high- (17%–23%) than low-Medicaid practices (5%–13%). Conclusion. The standard for practice assessment should be based on a consistent definition of active patients as the immunization rate denominator.

MOBILE APPLICATION REMOVES SOCIETAL BARRIERS TO P4 MEDICINE

2017 ◽  
pp. 1-3
Author(s):  
J.-P. Michel
Keyword(s):  
Cognitive Abilities ◽  
Mobile Application ◽  
New Technologies ◽  
Global Evaluation ◽  
P4 Medicine ◽  
Fertile Ground ◽  
Definition Of ◽  
The Individual ◽  
The Impact

The overlap between one innovative paradigm (P4 medicine: predictive, personalized, participatory and preventive) and another (a new definition of “Healthy ageing”) is fertile ground for new technologies; a new mobile application (app) that could broaden our scientific knowledge of the ageing process and help us to better analyse the impact of possible interventions in slowing the ageing decline. A novel mobile application is here presented as a game including questions and tests will allow in 10 minutes the assessment of the following domains: robustness, flexibility (lower muscle strength), balance, mental and memory complaints, semantic memory and visual retention. This game is completed by specific measurements, which could allow establishing precise information on functional and cognitive abilities. A global evaluation precedes advice and different types of exercises. The repetition of the tests and measures will allow a long follow up of the individual performances which could be shared (on specific request) with family members and general practitioners.

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