Shareholding Patterns and Financial Performance: Evidence from the Banking Sector in Bangladesh

This study attempts to examine the relationship between shareholding patterns and banks’ financial performance, as defined from three different dimensions, namely, profit-based performance measured by return on equity (ROE), market-based performance measured by Tobin’s Q (TQ) and valuebased performance measured by economic value added (EVA). It included 29 out of the 30 banks listed on the Dhaka Stock Exchange for the period 2013–2017, providing a balanced panel with 145 observations. All data were collected from the annual reports of the respective banks. The randomeffects GLS regression model was employed to test the chosen hypotheses. This study found a conflicting result, i.e. there was a relationship between some, but not all of the patterns of shareholdings and financial performance of the listed banks in Bangladesh. For example, a significant relationship between foreign shareholding and banks’ financial performance, as measured by ROE, TQ and EVA-log, was found. Sponsor-directors and general public shareholdings were found to be significantly related to ROE and EVA-log, but insignificantly associated with TQ. However, institutional and government shareholdings were insignificantly related to the banks’ financial performance, regardless of the measures employed to assess it. This study contributes to the existing literature by exploring the relationship between shareholding patterns and banks’ financial performance, and may indicate the need for a restructuring of the existing shareholding patterns in the banking sector in Bangladesh in order to maximise performance. This study is distinctive compared to prior studies, as it examines the relationship between the shareholding patterns disclosed in the annual reports of the sampled banks and banks’ performance, as measured by EVA-log along with ROE and TQ, which have not been covered earlier. KEYWORDS: Shareholding patterns, Financial performance, Economic value added, Banking sector in Bangladesh

Breastfeeding Disparities between Multiples and Singletons by NICU Discharge

Multiple pregnancy increases the risk of a range of adverse perinatal outcomes, including breastfeeding failure. However, studies on predictive factors of breastfeeding duration in preterm twin infants have a conflicting result. The purpose of this observational study was to compare feeding practices, at hospital discharge, of twin and singleton very low birth weight infants. The study is part of a prospective survey of a national Spanish cohort of very low birth weight infants (SEN1500) that includes 62 neonatal units. The study population comprised all infants registered in the network from 2002 to 2013. They were grouped into singletons and multiples. The explanatory variables were first analyzed using univariate models; subsequently, significant variables were analyzed simultaneously in a multiple stepwise backward model. During the twelve-year period, 32,770 very low birth weight infants were included in the database, of which 26.957 were discharged alive and included in this analysis. Nine thousand seven hundred and fifty-eight neonates were multiples, and 17,199 were singletons. At discharge, 31% of singleton infants were being exclusively breastfed, 43% were bottle-fed, and 26% were fed a combination of both. In comparison, at discharge, only 24% of multiple infants were exclusively breastfed, 43% were bottle-fed, and 33% were fed a combination of both (p < 0.001). On multivariable analysis, twin pregnancy had a statistically significant, but small effect, on cessation of breastfeeding before discharge (OR 1.10; 95% CI: 1.02, 1.19). Risks of early in-hospital breastfeeding cessation were also independently associated with multiple mother-infant stress factors, such as sepsis, intraventricular hemorrhage, retinopathy, necrotizing enterocolitis, intubation, and use of inotropes. Instead, antibiotic treatment at delivery, In vitro fertilization and prenatal steroids were associated with a decreased risk for shorter in-hospital breastfeeding duration. Multiple pregnancy, even in the absence of pathological conditions associated to very low birth weight twin infants, may be an impeding factor for in-hospital breastfeeding.

Prognostic value of Red Blood Cell Distribution Width in Acute Kidney Injury Patients: A Systematic Review and Meta-analysis

BackgroundThe conflicting result with regard to Red Cell Distribution Width (RDW) with Acute Kidney Injury (AKI) has been reported. This systematic review and meta-analysis were aimed to investigate RDW and prognostic value in AKI patients.Methods/Main ResultsThis meta-analysis included 1251 cases and 1663 controls with a total of 7 enrolled published papers. The results of RDW levels were significantly associated with patients of AKI (WMD=1.127, 95% CI=0.426-1.827; P=0.002), with statistically significant heterogeneity (I2 =95.80%, Pheterogeneity =0.000, random-effects model).ConclusionsIn conclusion, the results of this present meta-analysis suggest that the RDW value is a positive prognostic indicator in patients with AKI. However, these results were obtained on the basis of RCS or small sample sizes studies. Further functional studies with additional data would be needed to validate our findings.

MIGRAINE: A POSSIBLE CAUSE FOR COGNITIVE DECLINE

Objectives:Migraine is the second most common type of headache and seventh most disabling disease worldwide. In general, obesity is often related to headache disorders in several clinical and epidemiologic studies. Obese migraine patients may have an increased attack frequency due to increase in inflammatory response. Cognitive decline is the major pitfall of migraine disorder and there exists a conflicting result between cognition and migraine and the effect of Body Mass Index (BMI) on migraine. So this study is done to find out the relationship between cognition and migraine and its association with BMI.Methods:The study protocol was approved by the ethical committee of SRM Medical College Hospital & Research Centre. The study group consisted of 30 migraine patients and 30 healthy controls aged between 18-40 years of age. Informed consent was obtained from all the participants. Diagnosis of migraine was made using the criteria of 2nd edition of International Headache Classification (IHC). Patients affected by Diabetes mellitus, Hypertension, allergy, inflammation, infection or immune disorders were excluded. Height and weight of the subjects were taken to calculate the BMI. Cognitive tests such as stroop interference trial & trial making tests (A&B) were done to evaluate working memory, mental flexibility and attention.Results:Compared to controls, cases took more time for performing stroop colour card test (106.40 ± 15.87 seconds vs. 132.17±7.027seconds, p<0.001) and trial making pattern B (54.77± 8.169 seconds vs. 56.23 ± 23.457seconds, p=0.004). Among the migraine subjects, obese individuals had an increased frequency of migraine attack per month (Correlation coefficient r=0.797)Conclusion:Cognitive decline in migraine is one of the underestimated problems in migraine. Identifying such problems early can prevent major consequences in day to day activities of migraine patients. Since there is an increased frequency of migraine with increase in BMI, obese migraine subjects can be recommended to do regular exercises.Key words: Migraine, Cognition, Stroop test, Obesity.

Surgical Decision Making From Image-Based Biophysical Modeling of Glioblastoma: Not Ready for Primetime

BACKGROUND: Biophysical modeling of glioma is gaining more interest for clinical practice. The most popular model describes aggressivity of tumor cells by two parameters: net proliferation rate (ρ) and propensity to migrate (D). The ratio ρ/D, which can be estimated from a single preoperative magnetic resonance imaging (MRI), characterizes tumor invasiveness profile (high ρ/D: nodular; low ρ/D: diffuse). A recent study reported, from a large series of glioblastoma multiforme (GBM) patients, that gross total resection (GTR) would improve survival only in patients with nodular tumors. OBJECTIVE: To replicate these results, that is to verify that benefit of GTR would be only observed for nodular tumors. METHODS: Between 2005 and 2012, we considered 234 GBM patients with pre- and postoperative MRI. Stereotactic biopsy (BST) was performed in 109 patients. Extent of resection was assessed on postoperative MRI and classified as GTR or partial resection (PR). Invasiveness ρ/D was estimated from the preoperative tumor volumes on T1-Gadolinium-enhanced and fluid-attenuated inversion recovery sequences. RESULTS: We demonstrate that patients with diffuse GBM (low ρ/D), as well as more nodular (mid and high ρ/D) GBM, presented significant survival benefit from GTR over PR/BST (P &lt; .001). CONCLUSION: Whatever the degree of tumor invasiveness, as estimated from MRI-driven biophysical modeling, GTR improves survival of GBM patients, compared to PR or BST. This conflicting result should motivate further studies.

ANTICANCER DRUGS AS PROSPECTIVE EFFLUX PUMP INHIBITORS FOR SALMONELLA TYPHI PRODUCE CONFLICTING RESULTS IN IN SILICO AND IN VITRO STUDIES

<p><strong>Objective: </strong>Anticancer drugs paclitaxel and vinblastine were tested for their potential as efflux pump inhibitors for <em>Salmonella</em> Typhi-based on <em>in silico</em> and <em>in vitro</em> studies.</p><p><strong>Methods: </strong>Three-dimensional protein models of AcrAB-TolC of <em>Salmonella</em> Typhi were generated by online server PHYRE-2. The quality of 3D structures was assessed by PROCHECK, SWISS MODEL. Docking analysis of anticancer drugs with AcrA, AcrB and TolC subunits were performed after refining the homology models with Modrefiner. <em>Salmonella</em> Typhi (<em>S</em>. Typhi) efflux pump activity was measured by ethidium bromide (EtBr) cartwheel and semi-automated fluorometry methods respectively. Fluorescence intensity in bacterial colonies was measured under different treatment conditions (with or without drugs) on Muller Hinton agar (MHA) plates containing EtBr in cartwheel assay. EtBr efflux assay was determined following the loading of bacteria with EtBr and fluorescence was recorded over fixed time period with the help of fluorescent spectrophotometer. The results obtained were compared with the control.</p><p><strong>Results: </strong>Efflux pump inhibitor (EPIs) activity of paclitaxel and vinblastine determined by EtBr cartwheel assay registered no activity whereas semi-automated fluorescent assay revealed marginal activity when compared to control.</p><p><strong>Conclusion: </strong>We report the conflicting result of <em>in silico</em> and <em>in vitro</em> studies in predicting the antimicrobial effect of mainstream anticancer drugs as efflux pump inhibitors for <em>Salmonella</em> Typhi.</p>

The Existence of Long-Run PPP: A Comparison between Developed and Developing Countries

McNown & Wallace (1989) argued that PPP will tend to holds in less developed countries due to the domination of nominal factors in the economy. In this study we try to investigate the existence of long-run PPP in eight countries consisting four developed and developing countries. Here we show that there is a strong evidence that long-run PPP holds for Germany, United Kingdom, and Chile. Furthermore, the additional tests also show that symmetry and proportionality conditions seem to hold in the three economies. As for other five economies, long-run PPP seems to be absence. Although one step general Error Correction Model and Johansen-Juselius cointegration procedure generates conflicting result, the result of both technique do not show a tendency for PPP to hold in developing countries thus rejecting argument proposed by McNown and Wallace. AbstrakMcNown & Wallace (1989) mengemukakan argumen bahwa PPP akan cenderung berlaku di negara-negara yang belum maju disebabkan adanya dominasi faktor nominal dalam perekonomian. Dalam penelitian ini kami mencoba untuk menyelidiki keberadaan dari long-run PPP di delapan negara yang terdiri dari empat negara maju dan berkembang. Hasil estimasi menunjukkan adanya bukti kuat bahwa long-run PPP berlaku pada Jerman, Inggris, dan Cile. Hasil, tes lanjutan juga menunjukkan bahwa kondisi simetri dan proporsionalitas nampak bertahan di tiga negara tersebut. Sedangkan untuk lima negara lainnya, long-run PPP tidak nampak keberadaannya. Meskipun hasil pada one step Error Correction Model (ECM) dan Johansen-Juselius cointegration procedure menghasilkan hasil yang bertentangan, namun hasil dari kedua metode tersebut konsisten tidak menunjukkan kecenderungan akan eksistensi PPP di negara berkembang.Kata kunci: Purchasing Power Parity; Tes Kointegrasi; Negara Berkembang; Negara MajuJEL classifications: F31; F4

PENGARUH INTERAKSI KOMITMEN ORGANISASI DAN PARTISIPASI ANGGARAN TERHADAP SENJANGAN ANGGARAN:STUDI PERILAKU MANAJER HOTEL DI MALANG RAYA

<p>The relation betwen budgetary participation and budgetary slack has been examined in several accounting studies with conflicting result. Several researchers have found that budget slack occurs due to various individual behavioral factors in an organization. Participation in budgeting in organization is the part that can cause budget slack. One of the alternatives to reconcile these difference in finding is by using contingency approach, that is using motivational factors of organizational commitment as moderating variable. This research tries to conduct empirical tests for the effect of organizational commitment as moderating factor, the relation between participatory budgeting and budget slack. The result of the analysis shows that organizational commitment as moderating variable has direct influence on the relation between participatory budgeting with budget slack. The higher organizational commitment will decrease the budget slack for the individual who participates in the budgeting, while the lower organizational commitment will increase the the budget slack for the individual who participates in the budgeting.</p> <p><strong> </strong></p> <p><strong></strong><strong></strong></p>