Evidence In Favour Research Articles

Co-integrating relation between pay, board governance and performance: evidence from Indian banking

Purpose The purpose of the paper is to explore the long-run impact of board governance and bank performance on executive remuneration. More specifically, the study addresses two objectives. First, the authors investigate the long-run relationship between pay and performance hold for the Indian banking industry. Second, the authors explore the moderating role of the board in explaining the relationship between executive pay and performance. Design/methodology/approach The study uses multivariate panel co-integration approaches, i.e. fully modified and dynamic ordinary least square, to explain the co-integrating relationship between executive pay, governance and performance of Indian banks. The analysis is conducted for the period from 2005 to 2018. Findings The results of co-integration tests reveal a long-run relationship between executive pay, board governance and bank performance. The long-run estimates produce evidence in favour of the dynamic agency theory, suggesting that the implications of asymmetric information can be mitigated by associating the current executive pay with the bank performance in the previous periods. The finding of this study reveals that improvements in the board quality serve as a monitoring tool to constrain excessive pay and moderate the executives’ pay. Furthermore, the interaction of performance and board governance negatively impacts pay, supporting a substitution approach. It implies that setting optimal pay packages for executives necessitates enhanced and efficient board governance practices. Practical implications The study recommends significant policy implications for regulators and the board of directors that executive pay significantly responds to the bank’s performance and good board governance practices in the long run. Originality/value This paper provides novel evidence of long-run pay-performance-governance relation using a panel co-integration approach.

Glass Cups with Fire-Rounded Rims in the Cherniakhiv Culture: a Problem of Origin

In the article a research devoted to the problem of origin of hemispherical glass cups with fire-rounded rims discovered within the Cherniakhiv culture area is presented. These finds may be compared to a certain extent to Western European vessels of Eggers 199, 202, 205-206 types or the so-called Bodenrippenschale and Faßschale (after G. Rau) as well as cups of Werbkowice and Weklice types according to T. Stawiarska. Although, the Cherniakhiv artefacts are quite diverse in terms of their ornamental design, they are very similar referring to their morphology as well as finishing and decoration techniques. This fact, besides their identical chronological position and the same distribution pattern allow considering the mentioned items as a single glassware group and assuming their common origin. The conducted investigation demonstrates that at the end of the late Roman time (stage C3) the Cherniakhiv glass cups with fire-rounded rims were an original typological group of vessels, which had no synchronous analogues outside their distribution area. Although, the products that are similar to them in the technological point of view, occurred earlier in European Barbaricum, Roman provinces and antique centres of the Northern Black Sea region as well as at the end of the late Roman time in the Crimea. Taking into account the typological uniqueness and chronology of the Cherniakhiv finds as well as the absence of similar glassware among the products of synchronous glass-making centres of the neighbouring Roman provinces, it can be assumed that the most likely place of their origin was the Komariv workshop. The glass cups with fire-rounded rims are considered one of the items produced in this workshop. The artefacts that have close parallels among Cherniakhiv cups are also known here. It is worth noting, that the geochemical composition of some Cherniakhiv items finds close analogues between raw material and glassworking waste from Komariv, which is further evidence in favour of this hypothesis. The Roman origin of the Cherniakhiv cups, due to their morphological difference and chronological asynchrony with technologically similar products of the Roman glass-working centers, seems unlikely to us. Nevertheless, despite certain morphological differences, some early types of Western and Northern European artefacts, as well as Roman provincial glassware could serve as prototypes for the Cherniakhiv finds.

Trees for brains: Current residential tree cover density and its association with brain structure in young adults

Previous research has suggested an association between living environment during the first 15 years of life and brain structure. More precisely, urbanicity during upbringing has been shown to be negatively related to prefrontal cortex grey matter. The present study focusses instead on the current living environment of 677 younger adults recruited from different cities across Europe. We observed a positive association between amount of tree cover density, in a radius of 500m around the current home address and grey matter volume in right orbitofrontal cortex (rOFC). Of note, the volume of the rOFC cluster identified, showed a positive association with cognitive performance in the Wechsler Adult Intelligence Scale, namely in the verbal and spatial ability domain (Vocabulary, Block Design), and a negative association with both, self-reported and behavioural markers of impulsivity (delay discounting). Moreover, rOFC volume showed a negative association with self-reported alcohol use problems. The data provide strong evidence in favour of a link between geographical features of the current living environment (particularly trees) and brain structure above and beyond childhood and upbringing. Interestingly, the respective brain correlates are associated with cognitive, behavioural and personality characteristics which have been considered as risk factors for several psychiatric disorders. Environmental neuroscience may in the long run provide a knowledge base for evidence-based urban landscape planning to facilitate mental health.

Feature reassembly and L1 preemption: Acquiring CLLD in L2 Italian and L2 Romanian.

This study investigates feature acquisition and feature reassembly associated with Clitic Left Dislocation (CLLD). The article compares the acquisition of CLLD in second language (L2) Italian to L2 Romanian to examine effects of first language (L1) transfer, construction frequency and the type of interface involved (external vs. internal interface) within the same syntactic construction. The results from an acceptability judgment task and a written elicitation task show that while English near-native speakers of Italian/Romanian acquired the L2 constraints on CLLD, which is [+anaphor] for Italian and [+specific] for Romanian, data from both Romanian L2 learners of Italian and Italian L2 learners of Romanian showed persistent L1 transfer effects. Target-like acquisition for these groups requires both grammatical expansion and retraction; Romanian CLLD requires the addition of an L1-unavailable [+specific] feature and the loss of a [+anaphor] feature, while Italian CLLD requires the addition of an L1-unavailable [+anaphor] and the loss of a [+specific] feature. The reported findings extend evidence in favour of the Feature Reassembly Hypothesis to the syntax-discourse interface, as reassembly of interpretational features associated with CLLD proved more difficult than feature acquisition. While learners at the near-native levels were able to broaden the contexts that allow a clitic in the L2 (grammatical expansion), L1 preemption difficulties were attested as well. This was the case regardless of the frequency of the relevant construction in the input and the type of L2 feature that needed to be added/removed.

Artificial intelligence and productivity: global evidence from AI patent and bibliometric data

In this paper we analyse the relationship between technological innovation in the artificial intelligence (AI) domain and macroeconomic productivity. We embed recently released data on patents and publications related to AI in an augmented model of productivity growth, which we estimate for the OECD countries and compare to an extended sample including non-OECD countries. Our estimates provide evidence in favour of the modern productivity paradox. We show that the development of AI technologies remains a niche innovation phenomenon with a negligible role in the officially recorded productivity growth process. This general result, i.e. a lack of a strong relationship between AI and registered macroeconomic productivity growth, is robust to changes in the country sample, in the way we quantify labour productivity and technology (including AI stock), in the specification of the empirical model (control variables) and in estimation methods.

Testing for correlation between the regressors and factor loadings in heterogeneous panels with interactive effects

A large literature on modelling cross-section dependence in panels has been developed through interactive effects. However, there are areas where research has not really caught on yet. One such area is the one concerned with whether the regressors are correlated with factor loadings or not. This is an important issue because if the regressors are uncorrelated with loadings, we can simply use the consistent two-way fixed effects (FE) estimator without employing any more sophisticated econometric methods such as the principal component (PC) or the common correlated effects estimators. We explore this issue, which has received surprisingly little attention and propose a Hausman-type test to address the matter. Further, we develop two nonparametric variance estimators for the FE and PC estimators as well as their difference, that are robust to the presence of heteroscedasticity, autocorrelation and slope heterogeneity. Under the null hypothesis of no correlation between the regressors and loadings the proposed test follows the chi ^{2} distribution asymptotically. Monte Carlo simulation results confirm satisfactory size and power performance of the test even in small samples. Finally, we provide extensive empirical evidence in favour of uncorrelated factor loadings. In this situation, the FE estimator would provide a simple and robust estimation strategy which is invariant to nontrivial computational issues associated with the PC estimator.

Evidence in favour of ambulatory blood pressure grows but gaps in knowledge remain

Evidence in favour of ambulatory blood pressure grows but gaps in knowledge remain

Stroke Volume Variation is a Good Predictor of Fluid Responsiveness in Cardiac Surgery Patients with Implanted Intra-aortic Balloon Pump

There is a vast body of evidence in favour of individualising fluid therapy using dynamic hemodynamic indices like stroke volume variation (SVV). Patients with implanted intra-aortic balloon pump (IABP) are excluded from this approach because of pulse contour artifacts caused by the pump. The aim of this work is to test whether SVV can be used for fluid responsiveness prediction in these patients. Patients after cardiac surgery with implanted IABP were included in this study. SVV was measured after placing the IABP on standby mode for one minute. Cardiac output (CO) measurement was obtained via Swan-Ganz catheter before and after a 6 ml/kg fluid challenge. Fluid responsiveness was defined as increase of CO by at least 10%. SVV above 8.5% showed a good correlation with fluid responsiveness. Sensitivity was 95 (95% CI 85 to 100) and specificity 82 (95% CI 72 to 92). SVV had an area under the ROC curve 0.91 (95% CI 0.81 to 1.0) SVV is a good predictor of fluid responsiveness in patients with IABP. SVV should not be excluded as a fluid therapy guide for these patients. Placing the pump on standby for one minute allows obtaining an accurate measurement of this important variable.

Radiological and functional outcome of conservatively managed middle one third clavicle fractures

Background: We aim to assess radiological and functional outcome of conservatively managed middle one third clavicle fractures in Indian population. Clavicle fractures represent 2% to 10% of all fractures. In middle third clavicle fractures, conservative management is the commonest approach. In uncomplicated non displaced midshaft fractures, patients treated non operatively with these conservative measures have fewer complications and a timely recovery as those treated operatively. Conservative management is a simpler yet effective mode of management in middle one third clavicle fractures. Methods: Patients managed conservatively for clavicle fractures were assessed on OPD basis with follow up chest X-ray with bilateral shoulder AP view for radiological signs of union and assessing percent shortening and two questionnaires. Constant shoulder score which assess pain, degree of function, range of motion and muscular force and, simple shoulder test, self administered questionnaire defining one or more affirmative answers to find the satisfaction after treatment modality which were tabulated in Microsoft excel sheets. Results: Out of the 55 patients enrolled in the study 52 showed signs of union at 6 months follow up with mean fracture union time of 13.9 weeks. At 6 months follow up Mean Constant Shoulder score was 87.1 with excellent outcome in 67.67 percent patients and using Simple Shoulder Test satisfaction rate was found to be 78.18 percent. Conclusions: Solid evidence in favour of non-operative treatment for fractures with remaining contact of the bone fragments. Non-surgical management of middle third clavicle fractures yield excellent results. Clear indications for conservative treatment versus surgical fixation of displaced midshaft fractures have not finally been established yet. We recommend conservative management for uncomplicated middle one third clavicle fractures.

Large mammals and trees in eastern monsoonal China: anthropogenic losses since the Late Pleistocene and restoration prospects in the Anthropocene.

Massive human-induced declines of large-sized animals and trees (megabiota) from the Late Pleistocene to the Anthropocene have resulted in downsized ecosystems across the globe, in which components and functions have been greatly simplified. In response, active restoration projects of extant large-sized species or functional substitutes are needed at large scales to promote ecological processes that are important for ecosystem self-regulation and biodiversity maintenance. Despite the desired global scope of such projects, they have received little attention in East Asia. Here, we synthesise the biogeographical and ecological knowledge of megabiota in ancient and modern China, with relevant data mostly located in eastern monsoonal China (EMC), aiming to assess its potential for restoring functionally intact ecosystems modulated by megabiota. We found that during the Late Pleistocene, 12 mammalian megafaunal (carnivores ≥15 kg and herbivores ≥500 kg) species disappeared from EMC: one carnivore Crocuta ultima (East Asian spotted hyena) and 11 herbivores including six megaherbivores (≥1000 kg). The relative importance of climate change and humans in driving these losses remains debated, despite accumulating evidence in favour of the latter. Later massive depletion of megafauna and large-sized (45-500 kg) herbivores has been closely associated with agricultural expansion and societal development, especially during the late Holocene. While forests rich in large timber trees (33 taxa in written records) were common in the region 2000-3000 years ago, millennial-long logging has resulted in considerable range contractions and at least 39 threatened species. The wide distribution of C. ultima, which likely favoured open or semi-open habitats (like extant spotted hyenas), suggests the existence of mosaic open and closed vegetation in the Late Pleistocene across EMC, in line with a few pollen-based vegetation reconstructions and potentially, or at least partially, reflecting herbivory by herbivorous megafauna. The widespread loss of megaherbivores may have strongly compromised seed dispersal for both megafruit (fleshy fruits with widths ≥40 mm) and non-megafruit plant species in EMC, especially in terms of extra-long-distance (>10 km) dispersal, which is critical for plant species that rely on effective biotic agents to track rapid climate change. The former occurrence of large mammals and trees have translated into rich material and non-material heritages passed down across generations. Several reintroduction projects have been implemented or are under consideration, with the case of Elaphurus davidianus a notable success in recovering wild populations in the middle reaches of the Yangtze River, although trophic interactions with native carnivorous megafauna have not yet been restored. Lessons of dealing with human-wildlife conflicts are key to public support for maintaining landscapes shared with megafauna and large herbivores in the human-dominated Anthropocene. Meanwhile, potential human-wildlife conflicts, e.g. public health risks, need to be scientifically informed and effectively reduced. The Chinese government's strong commitment to improved policies of ecological protection and restoration (e.g. ecological redlines and national parks) provides a solid foundation for a scaling-up contribution to the global scope needed for solving the crisis of biotic downsizing and ecosystem degradation.

Lithospheric delamination in models of post-collision tectonics in the Egyptian Eastern Desert and Sinai: Claims versus evidence

Lithospheric delamination has been proposed to have occurred in the aftermath of the ∼630 Ma collision-related lithospheric thickening of the Arabian Nubian Shield (ANS) in numerous studies of post-collision volcanism, granite plutonism, and post-collision uplift, erosion and extension of its northern parts (the Egyptian Eastern Desert, EED). In this contribution we assess the strength of the evidence presented for the role of delamination in the EED from previous studies. The strongest evidence in favour of delamination in the EED lies in the detailed models of uplift coupled with syn-extension volcanism in the North Eastern Desert (NED) of the EED. Key differences between the NED and CED (Central Eastern Desert) to its south, may be explained in an EED delamination model that involves syn-collision delamination-assisted gravitational collapse in the CED, with migration of the delamination northwards into the NED, where it was post-collisional in timing. The initial point of detachment of the delaminated lower crust and lithospheric mantle may have been at or near the boundary between the CED and the SED (the Southern Eastern Desert) in the EED.

A novel visual illusion paradigm provides evidence for a general factor of illusion sensitivity and personality correlates

Visual illusions are a gateway to understand how we construct our experience of reality. Unfortunately, important questions remain open, such as the hypothesis of a common factor underlying the sensitivity to different types of illusions, as well as of personality correlates of illusion sensitivity. In this study, we used a novel parametric framework for visual illusions to generate 10 different classic illusions (Delboeuf, Ebbinghaus, Rod and Frame, Vertical-Horizontal, Zöllner, White, Müller-Lyer, Ponzo, Poggendorff, Contrast) varying in strength, embedded in a perceptual discrimination task. We tested the objective effect of the illusions on errors and response times, and extracted participant-level performance scores (n=250) for each illusion. Our results provide evidence in favour of a general factor underlying the sensitivity to different illusions (labelled Factor i). Moreover, we report a positive link between illusion sensitivity and personality traits such as Agreeableness, Honesty-Humility, and negative relationships with Psychoticism, Antagonism, Disinhibition, and Negative Affect.

Ovarian cancer pathology characteristics as predictors of variant pathogenicity in BRCA1 and BRCA2

BackgroundThe distribution of ovarian tumour characteristics differs between germline BRCA1 and BRCA2 pathogenic variant carriers and non-carriers. In this study, we assessed the utility of ovarian tumour characteristics as predictors of BRCA1 and BRCA2 variant pathogenicity, for application using the American College of Medical Genetics and the Association for Molecular Pathology (ACMG/AMP) variant classification system.MethodsData for 10,373 ovarian cancer cases, including carriers and non-carriers of BRCA1 or BRCA2 pathogenic variants, were collected from unpublished international cohorts and consortia and published studies. Likelihood ratios (LR) were calculated for the association of ovarian cancer histology and other characteristics, with BRCA1 and BRCA2 variant pathogenicity. Estimates were aligned to ACMG/AMP code strengths (supporting, moderate, strong).ResultsNo histological subtype provided informative ACMG/AMP evidence in favour of BRCA1 and BRCA2 variant pathogenicity. Evidence against variant pathogenicity was estimated for the mucinous and clear cell histologies (supporting) and borderline cases (moderate). Refined associations are provided according to tumour grade, invasion and age at diagnosis.ConclusionsWe provide detailed estimates for predicting BRCA1 and BRCA2 variant pathogenicity based on ovarian tumour characteristics. This evidence can be combined with other variant information under the ACMG/AMP classification system, to improve classification and carrier clinical management.

The volatility spillover effect of macroeconomic indicators on inbound tourism in India

Diseño/metodología/enfoqueLos modelos GARCH bivariantes se aplican para estimar el efecto indirecto de la volatilidad (VSE) de un mercado a otro. En comparación con otros métodos, el GARCH bivariante goza de gran aceptación para estimar el VSE. Para el análisis empírico se recopilan los MI mensuales y los datos de demanda turística (2012–2021).ObjetivoEl estudio se centra en medir la relación mutua entre la volatilidad de los indicadores macroeconómicos (MI) y la demanda turística de la India.ConclusionesSe observan indicios de GLT (demanda turística impulsada por el crecimiento). A corto plazo, se evidencia el TLG (crecimiento impulsado por el turismo). Sin embargo, este TLG no se mantiene a largo plazo. Existen pruebas significativas a favor del VSE de los MI a la demanda turística que garantizan el GLT en India.Implicaciones prácticasLa principal implicación del presente estudio es desestimar la influencia a corto plazo de la demanda turística en la economía porque no se sostiene a largo plazo. Sin embargo, la influencia a largo plazo de los indicadores macroeconómicos en la demanda turística debe considerarse con cautela. Por ello, la cobertura de riesgos puede plantearse para proteger los intereses del sector turístico de las repercusiones económicas adversas.Originalidad/valorExiste una carencia de estudios sobre la volatilidad (especialmente en el VSE) entre los MI y la demanda turística. En consecuencia, este estudio realiza una aportación investigadora mediante una contribución novedosa y única en la ampliación del conocimiento sobre el tema de análisis.

The Expansive Corridor: Testing Acemoglu and Robinson (2019)

In The Narrow Corridor, Acemoglu and Robinson create a compelling narrative concerning the relationship between the power of states, the power of societies, and economic development, illustrated with a series of historical vignettes. Using a recently constructed historical dataset of state capacity, we provide a series of formal and informal tests of their hypothesis. We first visualise the historical paths of the strength of society and the strength of the state for each country so as to operationalise the claims of Acemoglu and Robinson. We then measure whether the balance of the strength of society and the strength of the state is predictive of improvements in both. We find very little evidence in favour of Acemoglu and Robinson.

PDF Killed the Copier Star: Modernizing the Access to Sources of Proof Factor in a 28 U.S.C. § 1404(a) Transfer Analysis

With digital solutions to document storage, non-physical sources of evidence will become increasingly relevant for different types of legal actions. For patent proceedings, where evidence is often electronic, the need for a clearly defined approach to analyzing physical and electronic evidence has appeared within the first private factor of a 28 U.S.C. § 1404(a) transfer analysis. The evidentiary factor evaluating non-witness evidence—the access to sources of proof factor or first private factor—was interpreted by the Fifth Circuit when faced with weighing electronic evidence in favor, or against, potential transfer venues. Fifth Circuit precedent—relied upon in other circuit court opinions and the standard for when writs of mandamus reach the Federal Circuit—determined the access to proof factor is still relevant to modern transfer analyzes despite the ease of transfer some digital media provide. The convenience of digital evidence has led some district courts to request an amended approach for the first private factor analysis. In order to maintain the relevance of the access to sources of proof factor, the treatment of electronic evidence needs to be updated to reflect the expanding digital landscape. With a tailored approach recognizing the distinctions and ease of transfer for certain types of evidence, the tension between district court holdings, that the Gilbert factor is superfluous, and the circuit courts, holding that the factor is still relevant for transfer analysis, can be resolved. Sources of proof and the mediums they appear on will constantly change, and the law governing discretionary transfers should be prepared to adapt to those changes. This Comment seeks to provide a recommendation on how that can be achieved.

Rectus Sheath Block in Abdominal Surgery: A Systematic Review with Meta-Analysis.

With the development of ultrasound-guided and laparoscopic techniques of rectus sheath block (RSB), regional analgesia promises to be efficient and safe. However, studies show controversial results. Our systematic review with meta-analysis aims to evaluate the effect of rectus sheath block in abdominal surgery. We searched PubMed, Google Scholar, and the Cochrane Library from inception to October 2021 for randomised controlled trials written in English. We included studies on adult populations undergoing abdominal surgery. The primary outcomes of our meta-analysis were postoperative pain intensity and postoperative opioid consumption. Data analysis was conducted using the Review Manager software (RevMan, v. 5.4). Statistical heterogeneity was estimated by the I2 statistic. The methodological quality of the included studies was assessed using the Oxford quality scoring system (Jadad Scale). Eight randomised controlled trials (RCTs) in English with a total of 386 patients were included in this meta-analysis. Patients in the RSB group did not consume fewer anaesthetics and opioids after abdominal surgery when compared with patients in the control group. In addition, postoperative pain intensity (out of 10) was not lower in the RSB group when compared with the control group. Finally, RSB did not improve the time to the first opioid/analgesic (min) compared with the non-RSB option. There is no statistically significant evidence in favour of RSB over non-RSB in reducing anaesthetics and opioid consumption, postoperative pain intensity, and increasing time to first opioid/analgesic.

Further evidence in favour of a carbanion mechanism for glycolate oxidase.

The flavoenzyme glycolate oxidase oxidizes glycolic acid to glyoxylate and the latter, more slowly, to oxalate. It is a member of an FMN-dependent enzyme family that oxidizes l-2-hydroxy acids to keto acids. There has been a controversy concerning the chemical mechanism of substrate oxidation by these enzymes. Do they proceed by hydride transfer, as observed for NAD-dependent enzymes, or by initial formation of a carbanion that transfers the electrons to the flavin? The present work describes a comparison of the reactivity of glycolate, lactate and trifluorolactate with recombinant human glycolate oxidase, by means of rapid-kinetics experiments in anaerobiosis. We show that trifluorolactate is a substrate for glycolate oxidase, whereas it is known as an inhibitor for NAD-dependent enzymes, as is trifluoroethanol for NAD-dependent alcohol dehydrogenases. Unexpectedly, it was observed that, once reduced, a flavin transfers an electron to an oxidized flavin, so that the end species is a flavin semiquinone, whatever the substrate. This phenomenon has not previously been described for a glycolate oxidase. Altogether, considering that another member of this flavoenzyme family (flavocytochrome b2 , a lactate dehydrogenase) has also been shown to oxidize trifluorolactate (Lederer F etal. (2016) Biochim Biophys Acta 1864, 1215-21), this work provides another important piece of evidence which is hardly compatible with a hydride transfer mechanism for this flavoenzyme family.

This time truly is different: The cyclical behaviour of fiscal policy during the Covid-19 crisis

Fiscal policy was more countercyclical during the Covid-19 crisis than in previous (crisis) episodes. This paper presents empirical evidence in favour of a “this time truly is different” moment based on analysing the cyclical behaviour of fiscal policy for 28 advanced economies over 1995–2021. Discretionary fiscal policy during the Covid-19 crisis (2020–2021) did more to counteract the downturn – especially in the Eurozone –, as we do not find comparable evidence for countercyclicality during the financial crisis or Euro crisis. Automatic fiscal stabilisers, the non-discretionary domain of fiscal policy, significantly contributed to countercyclical stabilisation during the pandemic.

In Defence of the Traditional Model of the Accent System of Middle Japanese

The present article seeks to review the literature on the historical development of the Japanese accentual system. Whilst some merits of the alternative account of Ramsey and de Boer are recognized, the traditional model of Middle Japanese pitch-accent is defended, and a rebuttal of the arguments against it provided. The traditional model is integrated and corroborated by cross-linguistic and phonation-related arguments, with an eye towards philological evidence. It is concluded that, for the present at least, the evidence in favour of the traditional account of Middle Japanese tonogenesis is more robust and more persuasive.