scholarly journals Assessing Need and Level of Agreement among Market Participants in Adopting Book Building Pricing in Nepal

2020 ◽  
pp. 69-87
Author(s):  
Jas Bahadur Gurung
Keyword(s):  
Institutional Investors ◽  
Equity Offerings ◽  
Cross Sectional ◽  
Market Participants ◽  
Portfolio Managers ◽  
Ipo Pricing ◽  
Book Building ◽  
High Level ◽  
Sectional Analysis ◽  
Level Of Agreement

This paper aims at assessing the need of book building pricing of IPOs as well as the level of agreement among market participants on its application in the context of Nepal. This study is based on a cross-sectional analysis of survey data of 71 respondents comprising 19 issue managers, 16 portfolio managers, six share registrars, 10 mutual funds, nine stock brokers and 11 retail investors, for the months of January and February 2020. Mainly, descriptive statistics and inferential statistics like one-way ANOVA have been used in the study to assess the need and level of agreement in adopting book building pricing. The study revealed that there is an urgent need of adopting book building mechanisms of IPO pricing in Nepal because the existing primary market is inefficient and there is a huge wealth loss of existing shareholders in terms of higher underpricing on equity offerings. The role of institutional investors followed by underwriters is found crucial especially to discover price band and final price i.e. cut-off price, of offerings under book building. Further, the level of agreement in adopting book building pricing in Nepal’s capital market is positive because (i) the price band is determined with the active support of qualified institutional investors, (ii) it lowers the degree of underpricing of IPOs than that of par value method, and (iii) book building help prevents „random free riders‟ from overwhelming the process of IPOs. Mainly, more active market participants, like issue managers, portfolio managers, and stockbrokers, have a high level of agreement in adopting book building pricing. The study findings associated with book building pricing are crucial and highly applicable in order to formulate policies and implementation of new pricing mechanism in Nepal. Implementation of book building pricing will contribute to reduce level of underpricing, attract real sector companies and/or foster the primary market efficiency in future.

Does prospectus information matter in IPO pricing?

2018 ◽  
Vol 9 (4) ◽  
pp. 514-530 ◽  
Author(s):  
Rasidah Mohd-Rashid ◽  
Mansur Masih ◽  
Ruzita Abdul-Rahim ◽  
Norliza Che-Yahya
Keyword(s):  
Initial Public Offering ◽  
Institutional Investors ◽  
Ordinary Least Squares ◽  
Quadratic Model ◽  
Cross Sectional ◽  
Content Type ◽  
Ipo Pricing ◽  
The Government ◽  
Public Offering ◽  
Lower Uncertainty

Purpose The purpose of this study is to identify selected information from the prospectus that might signal the initial public offering (IPO) offer price. Design/methodology/approach This study uses cross-sectional data for a 14-year period from 2000 to 2014 in examining hypotheses relating to Shariah-compliant status, institutional investors, underwriter ranking and shareholder retention, with respect to their associations with the offer price of the IPOs. Further, this study uses ordinary least squares (OLS) for all models, including the models for both subsamples of Shariah- and non-Shariah-compliant IPOs. As for robustness, this study incorporates the quantile regression and quadratic model. Findings The results tend to provide support for the argument that firms with Shariah-compliant status reflect lower uncertainty and project better signalling of quality due to greater scrutiny by the government and thus are able to offer IPOs at higher prices. Similarly, firms with a higher proportion of shareholder retention indicate lower risks as insiders forego their options to diversify their portfolio, and hence could price their IPOs higher. Finally, the involvement of institutional investors and higher underwriter ranking could be used by firms to disregard information asymmetry, and therefore, the issuer might have to discount the IPO offer price. Research limitations/implications This study focuses solely on information in the prospectus that should not be disregarded by the investors in valuing the appropriateness of the IPO offer price. This study contributes in terms of providing a better understanding of the determinant factors of the IPO offer price of the firms which are Shariah-compliant. Originality/value This paper provides evidence for the determinants of the IPO offer price in a fixed pricing mechanism for both Shariah-and non-Shariah-compliant IPOs.

scholarly journals Underlying contributing conditions to breathlessness among middle-aged individuals in the general population: a cross-sectional study

2020 ◽  
Vol 7 (1) ◽  
pp. e000643
Author(s):  
Jacob Sandberg ◽  
Magnus Ekström ◽  
Mats Börjesson ◽  
Göran Bergström ◽  
Annika Rosengren ◽  
...  
Keyword(s):  
Heart Disease ◽  
Chest Pain ◽  
General Population ◽  
Respiratory Disease ◽  
Cross Sectional Study ◽  
Fitness Testing ◽  
Middle Aged ◽  
Cross Sectional ◽  
High Level ◽  
Sectional Analysis

IntroductionBreathlessness is common in the general population and associated with poorer health. Prevalence, frequencies and overlap of underlying contributing conditions among individuals reporting breathlessness in the general population is unclear. The aim was to evaluate which conditions that were prevalent, overlapping and associated with breathlessness in a middle-aged general population.MethodCross-sectional analysis of individuals aged 50–65 years in the Swedish CArdioPulmonary bioImage Study pilot. Data from questionnaire, spirometry testing and fitness testing were used to identify underlying contributing conditions among participants reporting breathlessness (a modified Medical Research Scale (mMRC) score ≥1). Multivariate logistic regression was used to identify independent associations with breathlessness.Results1097 participants were included; mean age 57.5 years, 50% women and 9.8% (n=108) reported breathlessness (mMRC ≥1). Main underlying contributing conditions were respiratory disease (57%), anxiety or depression (52%), obesity (43%) and heart disease or chest pain (35%). At least one contributing condition was found in 99.6% of all participants reporting breathlessness, while two or more conditions were present in 66%.ConclusionIn a middle-aged general population, the main underlying contributing conditions to breathlessness were respiratory disease, anxiety or depression, obesity and heart disease or chest pain with a high level of overlap.

scholarly journals Cross-sectional analysis of factors affecting out-of-pocket healthcare expenses in Serbia

Revizor ◽  
2021 ◽  
Vol 24 (93) ◽  
pp. 17-25
Author(s):  
Milorad Stamenović
Keyword(s):  
Healthcare System ◽  
Quantitative Methods ◽  
Healthcare Services ◽  
Time Frame ◽  
Cross Sectional ◽  
Factors Affecting ◽  
Cross Sectional Analysis ◽  
Out Of Pocket Expenses ◽  
High Level ◽  
Sectional Analysis

Out-of-pocket expenses in healthcare show the level of direct payments by individuals paying for the healthcare services that are not covered by the insurance. In the Republic of Serbia, high level of out-of-pocket expenses is present considering dominant Bismarck model of healthcare system and level of user income. Previous research shows the significant impact of the socio-economic and healthcare system indicators afecting out-of-pocket expenses. The objective is to perform a cross-sectional analysis of the economic, healthcare, and demographic variables impact on the out-of-pocket expenses. We use quantitative methods of analysis of data collected for the data time frame from 20002018. Results show a high impact of the 7 out of 13 factors we explored.

scholarly journals Smoking and Other Drug Characteristics of Aboriginal and Non-Aboriginal Prisoners in Australia

2013 ◽  
Vol 2013 ◽  
pp. 1-9 ◽  
Author(s):  
Robyn L. Richmond ◽  
Devon Indig ◽  
Tony G. Butler ◽  
Kay A. Wilhelm ◽  
Vicki A. Archer ◽  
...  
Keyword(s):  
Smoking Cessation ◽  
Self Report ◽  
Cross Sectional ◽  
Australian Community ◽  
Sociodemographic Profile ◽  
Using Data ◽  
High Level ◽  
Sectional Analysis ◽  
Design And Methods ◽  
Male Prisoners

Introduction and Aim. Although tobacco and alcohol use have declined substantially in the Australian community, substance use among prisoners remains high. The aim was to compare the smoking, drug, and alcohol characteristics, sociodemographic profile, and general health of Aboriginal and non-Aboriginal male prisoners in a smoking cessation intervention.Design and Methods. This study was a descriptive cross-sectional analysis of data from 425 male prisoners who joined a quit smoking trial conducted at 18 correctional centres in NSW and Queensland using data collected by standardised self-report instruments.Results. Average age was 33 years with 15% from Aboriginal descent. Compared to non-Aboriginal prisoners, Aboriginal prisoners were significantly more likely to have left school with no qualifications, to have been institutionalised as a child, to be previously incarcerated, and commenced smoking at a younger age. The tobacco use profile of both groups was similar; most of them had a medium to high level of nicotine dependence, smoked roll your own tobacco, and were “serious” about quitting.Discussion and Conclusion. Despite differences in terms of sociodemographic characteristics and offending history, the smoking characteristics of Aboriginal and non- Aboriginal prisoners were similar. Incarceration offers an opportunity to encourage smoking cessation and reduction of drug use.

LIFE-CYCLE INCOME HYPOTHESIS AND DEMOGRAPHIC STRUCTURE: A SEMI-NONPARAMETRIC ANALYSIS USING A PANEL OF COUNTRIES

2013 ◽  
Vol 58 (01) ◽  
pp. 1350003
Author(s):  
CHEOLBEOM PARK ◽  
JINA YU
Keyword(s):  
Growth Rate ◽  
Time Series ◽  
Life Cycle ◽  
Response Function ◽  
Demographic Structure ◽  
Cross Sectional ◽  
Nonparametric Approach ◽  
Savings Rate ◽  
High Level ◽  
Sectional Analysis

In this paper, we attempt to determine whether the life-cycle income (LCI) hypothesis can explain movements in the national savings rate using the panel data of countries and the semi-nonparametric approach. While relating movements in the population density function to movements in the national savings rate, we are able to estimate the age response function with a high level of precision, and the estimated age response function is hump-shaped, which is generally consistent with the prediction from the LCI hypothesis. Running time-series regressions separately for individual countries, we also demonstrate that the estimated age response functions are consistent with the LCI hypothesis in a large proportion of countries, despite limited observations in a variety of countries. Finally, our time-series and cross-sectional analysis results imply that the LCI hypothesis is more likely to hold in a country wherein the growth rate of per capita GDP and the growth rate of population are high.

Depression, anxiety and perceived stress in women with and without PCOS: a community-based study

2018 ◽  
Vol 49 (09) ◽  
pp. 1510-1520 ◽  
Author(s):  
Anna L. Damone ◽  
Anju E. Joham ◽  
Deborah Loxton ◽  
Arul Earnest ◽  
Helena J. Teede ◽  
...  
Keyword(s):  
Psychological Distress ◽  
Perceived Stress ◽  
Polycystic Ovary ◽  
Mediation Effect ◽  
Depression And Anxiety ◽  
Community Based ◽  
Cross Sectional ◽  
Socio Demographic Factors ◽  
High Level ◽  
Sectional Analysis

AbstractBackgroundPolycystic ovary syndrome (PCOS) is associated with increased psychological distress in clinical populations. We aimed to assess depression, anxiety and perceived stress in women with and without PCOS in a large community-based sample and investigate the role of stress in contributing to and mediating the relationship between PCOS, depression and anxiety.MethodsA cross-sectional analysis was performed from the Australian Longitudinal Study of Women's Health (ALWSH) comparing women with (n = 478) or without (n = 8134) a self-reported diagnosis of PCOS. Main outcome measures were depression, anxiety and perceived stress measured using validated scales. The χ2 and t tests were used to assess differences between groups. Univariable and multivariable regression were performed to determine factors contributing to each outcome.ResultsWomen reporting PCOS, compared with women not reporting PCOS, reported higher prevalence of depression (27.3% v. 18.8%), anxiety symptoms (50% v. 39.2%) and greater score for perceived stress (1.01 ± 0.03 v. 0.88 ± 0.01). After adjusting for body mass index, infertility and socio-demographic factors, women with PCOS were still more likely to be depressed, anxious and to have a higher level of perceived stress. There was a high-level mediation effect of stress between PCOS and both depression and anxiety.ConclusionCompared with women not reporting PCOS, women reporting PCOS have increased depression, anxiety and perceived stress. Stress may play a role in the association between PCOS, depression and anxiety. Further studies should consider assessment and management of stress in PCOS as it may be relevant for understanding the aetiology and treatment of psychological distress.

scholarly journals A Cross-sectional Analysis of Kogi State Residents' Knowledge and Perceptions on COVID-19 Pandemic

2021 ◽  
Author(s):  
Taiye Babatunde Mofolorunsho ◽  
Kehinde Charles Mofolorunsho ◽  
Julius Olugbenga Owoyemi ◽  
Olowonibi Olabisi Oloruntoba ◽  
Joseph Ajogwu Onoja
Keyword(s):  
The State ◽  
Basic Knowledge ◽  
Cross Sectional Survey ◽  
Cross Sectional ◽  
Precautionary Measures ◽  
High Level ◽  
Study Participants ◽  
Sectional Analysis ◽  
Second Wave ◽  
Structured Questionnaire

Abstract Coupled with the outbreak of Covid-19 in Nigeria, there has been a controversial trailing of the Covid-19 incidence in Kogi State involving the state authorities and the Nigeria Centre for Disease Control (NCDC). Giving the importance of appropriate awareness and the perceptions to curbing the spread of the disease, this study aimed at assessing the knowledge, perception and precautionary measures of Kogi state residents in response to the outbreak of Covid-19. An online cross-sectional survey was conducted among 401 residents in Kogi State Nigeria, with a structured questionnaire. Data collected were analyzed using descriptive statistics of frequencies and Simple percentage in tables. Findings revealed that all the participants were aware of and had basic knowledge about Covid-19. The study participants had ample knowledge about the required preventive measures and how to protect themselves from Covid-19. It was also revealed that 45.2% of the respondents were conversant with the practice of three to more of the precautionary guidelines for preventing Covid-19. The study also found that a significant number of the respondents held a very low risk perception of Covid-19 by expressing an unlikely probability of getting infected by the virus. As regards skepticism and belief on coronavirus, 45.9% believed that Covid-19 is a hoax which was invented by interest groups for financial gains; 46.1% opined that the number of people reported by the NCDC as infected by the coronavirus in Nigeria is exaggerated. Again, 33.7% of the respondents believed that the second wave of the Covid-19 in Nigeria was a scam. The main source of Covid-19 information utilized by majority of the respondents was from Television programmes (34.2%) and Whatsapp (31.9%) platforms. The study concluded that while there was a high level of awareness of Covid-19 among residents of Kogi State and a remarkable level of precautionary practices against the spread of the Covid-19 virus, there are however, indications of misconceptions and misinformation that breeds skepticism and belief that may be detrimental to curbing effectively, the spread of the Covid-19 virus within the state.

scholarly journals A Cross-sectional Analysis of Kogi State Residents' Knowledge and Perceptions on COVID-19 Pandemic

2021 ◽  
Author(s):  
Taiye Babatunde Mofolorunsho ◽  
Kehinde Charles Mofolorunsho ◽  
Julius Olugbenga Owoyemi ◽  
Olowonibi Olabisi Oloruntoba ◽  
Sunday Samuel Boluromi ◽  
...  
Keyword(s):  
The State ◽  
Basic Knowledge ◽  
Cross Sectional Survey ◽  
Cross Sectional ◽  
Precautionary Measures ◽  
High Level ◽  
Study Participants ◽  
Sectional Analysis ◽  
Second Wave ◽  
Structured Questionnaire

Abstract Coupled with the outbreak of Covid-19 in Nigeria, there has been a controversial trailing of the Covid-19 incidence in Kogi State involving the state authorities and the Nigeria Centre for Disease Control (NCDC). Giving the importance of appropriate awareness and the perceptions to curbing the spread of the disease, this study aimed at assessing the knowledge, perception and precautionary measures of Kogi state residents in response to the outbreak of Covid-19. An online cross-sectional survey was conducted among 401 residents in Kogi State Nigeria, with a structured questionnaire. Data collected were analyzed using descriptive statistics of frequencies and Simple percentage in tables. Findings revealed that all the participants were aware of and had basic knowledge about Covid-19. The study participants had ample knowledge about the required preventive measures and how to protect themselves from Covid-19. It was also revealed that 45.2% of the respondents were conversant with the practice of three to more of the precautionary guidelines for preventing Covid-19. The study also found that a significant number of the respondents held a very low risk perception of Covid-19 by expressing an unlikely probability of getting infected by the virus. As regards skepticism and belief on coronavirus, 45.9% believed that Covid-19 is a hoax which was invented by interest groups for financial gains; 46.1% opined that the number of people reported by the NCDC as infected by the coronavirus in Nigeria is exaggerated. Again, 33.7% of the respondents believed that the second wave of the Covid-19 in Nigeria was a scam. The main source of Covid-19 information utilized by majority of the respondents was from Television programmes (34.2%) and Whatsapp (31.9%) platforms. The study concluded that while there was a high level of awareness of Covid-19 among residents of Kogi State and a remarkable level of precautionary practices against the spread of the Covid-19 virus, there are however, indications of misconceptions and misinformation that breeds skepticism and belief that may be detrimental to curbing effectively, the spread of the Covid-19 virus within the state

Ultramicrotomy as a Technique for Materials Specimen Preparation

1990 ◽  
Vol 48 (2) ◽  
pp. 428-429
Author(s):  
S.R. Glanvill
Keyword(s):  
Materials Science ◽  
Structural Information ◽  
Specimen Preparation ◽  
Preparation Technique ◽  
Cross Sectional ◽  
Surfaces And Interfaces ◽  
Beam Analysis ◽  
Flat Embedding ◽  
20 Nm ◽  
Sectional Analysis

This paper summarizes the application of ultramicrotomy as a specimen preparation technique for some of the Materials Science applications encountered over the past two years. Specimens 20 nm thick by hundreds of μm lateral dimension are readily prepared for electron beam analysis. Materials examined include metals, plastics, ceramics, superconductors, glassy carbons and semiconductors. We have obtain chemical and structural information from these materials using HRTEM, CBED, EDX and EELS analysis. This technique has enabled cross-sectional analysis of surfaces and interfaces of engineering materials and solid state electronic devices, as well as interdiffusion studies across adjacent layers.Samples are embedded in flat embedding moulds with Epon 812 epoxy resin / Methyl Nadic Anhydride mixture, using DY064 accelerator to promote the reaction. The embedded material is vacuum processed to remove trapped air bubbles, thereby improving the strength and sectioning qualities of the cured block. The resin mixture is cured at 60 °C for a period of 80 hr and left to equilibrate at room temperature.

Twitter Usage Using Common Reference to Tinnitus

2020 ◽  
Vol 29 (2) ◽  
pp. 206-217
Author(s):  
Jianyuan Ni ◽  
Monica L. Bellon-Harn ◽  
Jiang Zhang ◽  
Yueqing Li ◽  
Vinaya Manchaiah
Keyword(s):  
Nonprofit Organizations ◽  
Temporal Trends ◽  
Temporal Analysis ◽  
Cross Sectional ◽  
For Profit ◽  
Common Reference ◽  
Personal Experiences ◽  
Twitter Users ◽  
Sectional Analysis ◽  
Share Information

Objective The objective of the study was to examine specific patterns of Twitter usage using common reference to tinnitus. Method The study used cross-sectional analysis of data generated from Twitter data. Twitter content, language, reach, users, accounts, temporal trends, and social networks were examined. Results Around 70,000 tweets were identified and analyzed from May to October 2018. Of the 100 most active Twitter accounts, organizations owned 52%, individuals owned 44%, and 4% of the accounts were unknown. Commercial/for-profit and nonprofit organizations were the most common organization account owners (i.e., 26% and 16%, respectively). Seven unique tweets were identified with a reach of over 400 Twitter users. The greatest reach exceeded 2,000 users. Temporal analysis identified retweet outliers (> 200 retweets per hour) that corresponded to a widely publicized event involving the response of a Twitter user to another user's joke. Content analysis indicated that Twitter is a platform that primarily functions to advocate, share personal experiences, or share information about management of tinnitus rather than to provide social support and build relationships. Conclusions Twitter accounts owned by organizations outnumbered individual accounts, and commercial/for-profit user accounts were the most frequently active organization account type. Analyses of social media use can be helpful in discovering issues of interest to the tinnitus community as well as determining which users and organizations are dominating social network conversations.

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