Fixed Model Effect Research Articles

Impact of Liquidity Risk and Leverage on the Financial Performance of Nigerian Deposit Money Banks

This study investigates the impact of liquidity risk and leverage on the financial performance of listed Deposit Money Banks (DMBs) in Nigeria. The study utilized a census approach to gather data from all 15 listed DMBs on the Nigerian Exchange Group as of December 31, 2022. The study spanned from 2013 to 2022, employing various statistical analyses including descriptive analysis, correlation analysis, skewness and kurtosis tests for normality, multiple regression models for fixed-effects and random-effects models, and the Hausman test to ensure robust findings. The results indicated that liquidity risk exhibited a positive and significant impact on return on equity (ROE), a measure of financial performance, with a coefficient of 0.132 and a p-value of 0.000, suggesting that effective management of liquidity risk enhances profitability. Conversely, leverage was found to have a significant negative impact on ROE, with a coefficient of -1.351 and a p-value of 0.007, highlighting that higher debt levels substantially reduce profitability. In conclusion, the study suggests that while liquidity risk can be effectively managed to enhance profitability, excessive leverage poses significant threats to financial performance. The findings underscore the importance of robust risk management strategies for improving the financial performance of listed DMBs in Nigeria. These insights are crucial for policymakers, banking executives, and investors seeking to enhance the stability and performance of the banking sector.

Struktur Kapital dan Diskresi Manajerial terhadap Pengungkapan Corporate Social Responsibilty (CSR)

The more companies in one area or region will have an impact and contribution to the community and the surrounding environment. Corporate social responsibility (CSR) is able to bring a better oriented company, and by taking into account the social principles of society, stakeholders, environmental principles, and also no less important, namely the discretionary actions of management. Management discretionary actions such as actions to manage excess costs contained in management. CSR practices reduce the level of asymmetric information and agency costs, such as an irregular CSR-related information, not all of which are available and agency costs are also limited, but the level of systematic risk and the cost of capital, which ultimately increases the possibility of increasing equity while reducing dependence on external financing and debt. CSR is realized by the company's management with the aim, as a strategy to protect itself, which allows personal gain to be obtained by investing shares in the company. This study aims to determine the contribution of a company's capital structure and managerial discretion to the CSR defense strategy of companies in Indonesia. This research is a quantitative research. Sources of research data were obtained from 348 companies listed on the Indonesia Stock Exchange and published financial reports and annual reports from 2017-2021. The Fixed Model Effect research model, the results of this study indicate that there is no significant relationship between capital structure and managerial discretion on CSR.

Intra-articular Injection of Mesenchymal Stem Cells After High Tibial Osteotomy: A Systematic Review and Meta-analysis.

Multiple studies have investigated the use of mesenchymal stem cells (MSCs) for patients undergoing high tibial osteotomy (HTO), and the effectiveness thereof remains controversial. To analyze the effectiveness of intra-articular MSC injection in patients who underwent HTO in terms of clinical outcomes, radiological outcomes, and cartilage repair by a meta-analysis of the available literature. Systematic review; Level of evidence, 3. The electronic databases of PubMed, Embase, Web of Science, and the Cochrane Library were searched from their inception to October 30, 2021, for comparative studies between patients who underwent HTO with and without intra-articular injection of MSCs, according to the PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-Analyses) guidelines. Study quality was assessed by the Coleman Methodology Score (CMS). Data with comparable results were pooled for meta-analysis. The primary outcomes of interest were the Hospital for Special Surgery (HSS), International Knee Documentation Committee (IKDC), Knee injury and Osteoarthritis Outcome Score (KOOS), and Lysholm scores, as well as the International Cartilage Regeneration & Joint Preservation Society (ICRS) grade of cartilage repair. Radiological outcomes including femorotibial angle, posterior tibial slope, and hip-knee-ankle (HKA) angle were included as secondary outcomes. A fixed-model effect was used for meta-analyses with low heterogeneity between studies (I 2 < 25%), while the random-model effect was used for medium- to high-heterogeneity analyses (I 2 ≥ 25%). A total of 843 studies were screened, of which 6 studies with 452 patients met the inclusion criteria and were included. The mean CMS was 81.17. Patients with MSC injection had significantly higher Lysholm scores (P = .007) and HSS scores (P = .01) and higher proportions of ICRS grade 1 (P = .03) and grade 2 (P = .02) cartilage repair in the medial femoral condyle and grade 2 cartilage repair in the tibial plateau (P = .04). There were no significant differences between groups in the IKDC score, KOOS Pain and Symptoms subscales, femorotibial angle, posterior tibial slope, or HKA angle. Intra-articular MSC injection may enhance the cartilage repair for patients who undergo HTO. However, evidence of improvement in knee functions remains limited. CRD42021291345 (PROSPERO).

Coordinate Descent for Variance-Component Models

Variance-component models are an indispensable tool for statisticians wanting to capture both random and fixed model effects. They have applications in a wide range of scientific disciplines. While maximum likelihood estimation (MLE) is the most popular method for estimating the variance-component model parameters, it is numerically challenging for large data sets. In this article, we consider the class of coordinate descent (CD) algorithms for computing the MLE. We show that a basic implementation of coordinate descent is numerically costly to implement and does not easily satisfy the standard theoretical conditions for convergence. We instead propose two parameter-expanded versions of CD, called PX-CD and PXI-CD. These novel algorithms not only converge faster than existing competitors (MM and EM algorithms) but are also more amenable to convergence analysis. PX-CD and PXI-CD are particularly well-suited for large data sets—namely, as the scale of the model increases, the performance gap between the parameter-expanded CD algorithms and the current competitor methods increases.

The Effect of GRDP Sector Composition on Economic Growth in the Lake Toba Region

This study aims to analyze the effect of 17 economic sectors on economic growth in the Lake Toba Region (KDT). The data used is secondary data in the form of times series from 2010 to 2019 with panel data analysis using Fixed Model Effect (FEM). It shows a positive and significant influence between mining, energy, information, finance, and health sectors on KDT economic growth, while the other 12 economic sectors have no significant effect. An increase of 1 percent in the mining sector will incline economic growth by 1.41 percent; the energy sector will promote economic growth by 0.48 percent; the information sector will increase economic growth by 0.81 percent; the financial sector will increase economic growth by 0.78 percent; and the health sector will enhance economic growth by 1.10 percent. The government should make policies related to production and investment enhancement so that the income of each economic sector and economic growth in KDT increases. Keywords: Economic growth, Economic sector, Panel dataJEL Classification: C01, C33, O11

Water Pipe Tobacco Smoking and Risk of Coronary Artery Disease: A Systematic Review and Meta-Analysis

Waterpipe smoking has become a vitally important public health issue in the world with a false assumption that it has a less harmful effect. The aim of this study was to systematically review the association between waterpipe tobacco smoking and the risk of coronary artery disease (CAD). Up to September 25, 2018, we electronically searched the PubMed, Embase, and ISI Web of Science with no time restriction. We included observational studies and excluded conference abstracts, editorials, case reports, case series, and reviews. With the fixed model effect, we conducted a meta-analysis to evaluate the association between waterpipe smoking and coronary artery disease. Heterogeneity among studies was assessed by the I2 square test. Publication bias was assessed by Egger test. P<0.05 was set as significant level. Among 248 paper records identified through a database search, 52 full texts were eligible for full text assessment whereas 49 papers were excluded. Additionally, three studies were eligible for meta-analysis, which involved 58,960 adults with 1334 in the water pipe smoker group. Risk of CAD was increased in water pipe smokers compared to individuals who had never smoked water pipe but the result did not reach a statistical significance (OR=1.18, 95% CI: 0.98-1.38, p=0.06). We found that heavy water pipe smoking (40 to 50 sessions of waterpipe smoking/year) was associated with CAD compared to lower smokers defined as less than 40 to 50 water pipe/year (OR=2.001, 95% CI: 1.13-2.87). Heavy Water pipe smoking was associated with coronary artery disease based on clinical findings. It seems very crucial to increase public awareness on adverse effects of water pipe smoking and its cessation in clinical setting.

Evaluation of source of corn silage and trace minerals on rumen characteristics and passage rate of Holstein cows

The effects of source of corn silage and trace mineral on rumen fermentation, turnover, and particle passage rates were evaluated with 8 ruminally cannulated Holstein cows averaging 83 (standard error = 5) days in milk in a replicated 4 × 4 Latin square design with a 2 × 2 factorial arrangement of treatments and 28-d periods. The diets consisted (dry basis) of 55% conventional (CON) or brown midrib-3 (BM3) corn silage, 2% chopped wheat straw, and 43% grain mix with either sulfate (STM) or hydroxy (HTM) source of Cu, Zn, and Mn trace minerals. The targeted supplemental amount of Cu, Zn, and Mn was 194, 1,657, and 687 mg/d, respectively. The dietary treatments were (1) CON-STM, (2) CON-HTM, (3) BM3-STM, and (4) BM3-HTM. Dietary nutrient composition of BM3 diets averaged 32.1% amylase neutral detergent fiber on an organic matter basis (aNDFom) and 6.9% undigested neutral detergent fiber at 240 h of in vitro fermentation (uNDF240om; % of dry matter), and CON diets averaged 36.2% aNDFom and 8.6% uNDF240om (% of dry matter). Data were summarized by period and analyzed as a replicated Latin square design with fixed model effects for corn silage, trace mineral, corn silage and trace mineral interaction, period within replicated square, and replicated square using the MIXED procedure of SAS (version 9.4, SAS Institute Inc., Cary, NC). Cow within replicate was a random effect. Daily mean, standard deviation, minimum, and maximum for rumen pH were unaffected by corn silage or trace mineral source. Cows fed the CON diets had greater rumen acetate percentage than cows fed the BM3 diets (65.7 vs. 64.7 molar %). In contrast, cows fed the BM3 diets had greater rumen propionate percentage than cows fed the CON diets (21.4 vs. 20.4 molar %). Total volatile fatty acid concentration was lower for cows fed STM versus HTM in BM3 diets, but not for the cows fed the CON diets. Cows fed the BM3 diets had faster turnover rate and shorter turnover time for uNDF240om than cows fed the CON diets (3.12 vs. 2.86%/h and 33.3 vs. 36.5 h, respectively). Cows fed the BM3 diets had a faster passage rate of small and medium corn silage neutral detergent fiber particles than cows fed the CON diets (5.73 vs. 5.37%/h and 4.74 vs. 4.31%/h, respectively). We observed a corn silage by source of trace mineral interaction on organic matter and uNDF240om rumen pool size and organic matter turnover. Overall, source of corn silage had a pronounced influence on rumen dynamics presumably related to greater in vitro neutral detergent fiber digestibility and lower uNDF240om content of BM3 corn silage that allowed for faster turnover of indigestible neutral detergent fiber and greater passage rate of corn silage particles. In contrast, the source of trace mineral had much less significant effects on rumen fermentation, turnover, and particle passage rates. Corn silage-based diets intended to enhance rumen fiber fermentation, turnover, and passage are more affected by source and digestibility of neutral detergent fiber than source of dietary trace minerals.

Study of State-Owned Enterprises (SOEs) Profitability in Indonesia 2012-2016 Period

One of the purposes of the establishment of SOEs is to become a source of funding for the state. But unfortunately, the losses and potential bankruptcy is still a business challenge to date. Therefore, the aims of this research to analyze the SOEs’ financial performance and the factors that affected profitability. The analysis method used is panel data regression involving 118 financial data companies in the year of 2012-2016. The variables used consisted of return on assets (ROA), total asset growth (TAG), current ratio (CR), total assets turnover (TATO), and debt to equity ratio (DER). After eliminating the outlier data and use other statistical tests, a fixed-model effect (FEM) was obtained. Based on the analysis result, the effect of TAG, CR, and TATO is positive and significant on the ROA. Meanwhile, the effect of the DER is not significant on ROA. This model is able to explain the variation of the dependent variable of 92,40 percent.

The Effectiveness of Positive Psychology Intervention in Turkey: A Meta-Analysis

The aim of this study is to determine the effect of the results intervention designed in experimental and quasi-experimental model within certain fields of positive psychology in Turkey by using meta-analysis method. The National Thesis Center database and Google Scholar was used to collect the data. Experimental thesis and articles conducted in Turkey between 2000-2019 were included in the study. Relevant thesis and articles are gathered by searching with the keywords “positive psychology”, “psychological well-being”, “psychological resilience”, “mental well-being”, “hope”, “optimism”, “happiness”, “resilience”. The research focused on experimental and quasi-experimental studies, and studies with pre-test and post-test patterns were reviewed. Comprehensive Meta-Analysis program was used in the analysis of the research data. After the analysis of the data, effect sizes in various sub-dimensions were calculated. In this study, the dependent and independent variables in experimental studies carried out by the researchers in Turkey on certain topics of positive psychology and the effectiveness of the independent variables used together with the effect size calculation were examined. In order to make some calculations related to the meta-analysis of the thesis and articles included in the research, studies with the required arithmetic mean, standard deviation and sample number were examined. Studies outside the field of Psychological Counseling and Guidance, qualitative studies and studies in which related values couldn’t be calculated were not included in the research. 16 studies (2 for positive psychology, 1 for psychological well-being, 2 for psychological resilience, 4 for subjective well-being, 1 for hope, 3 for optimism, 1 for happiness, 2 for resilience) were included in meta-analysis. As a result; according to a random model this study general effect size found 0,8 (0,32-1,27), also fixed model effect size 0,6 (0,43-0,78). The data obtained has indicated that the experimental studies have effective results in acquiring certain social skills related to positive psychology and providing more psychologically happy, hopeful and positive perspectives. The small number of experimental studies reached is an important indicator of the need for different experimental studies in the field of positive psychology.

Evaluation of source of corn silage and trace minerals on lactational performance and total-tract nutrient digestibility in Holstein cows

We evaluated the effects of source of corn silage and trace minerals on lactational performance and total-tract digestibility (TTD) of nutrients in 16 Holstein cows averaging 82 (standard error = 3) days in milk in a replicated 4 × 4 Latin square design with a 2 × 2 factorial arrangement of treatments with 28-d periods. The diets consisted [dry matter (DM) basis] of 55% conventional (CON) or brown midrib-3 (BM3) corn silage, 2% chopped wheat straw, and 43% grain mix with either sulfate (STM) or hydroxy (HTM) sources of copper, manganese, and zinc trace minerals. The targeted supplemental concentrations of copper, zinc, and manganese were 194, 1,657, and 687 mg/d, respectively. The dietary treatments were CON-STM, CON-HTM, BM3-STM, and BM3-HTM. The dietary nutrient composition of the BM3 diets averaged 32.1% amylase neutral detergent fiber on an organic matter basis (aNDFom) and 6.9% undigested neutral detergent fiber at 240 h (uNDF240om; % of DM), and CON diets averaged 36.2% aNDFom and 8.6% uNDF240om (% of DM). The average supplemental concentrations of copper, zinc, and manganese for the STM diets were 10, 41, and 64 mg/kg, respectively, and the average supplemental concentrations of copper, zinc, and manganese for the HTM diets were 10, 40, and 62 mg/kg, respectively. The average total dietary concentrations of copper, zinc, and manganese for the STM diets were 17, 104, and 60 mg/kg, respectively, and the average total dietary concentrations of copper, zinc, and manganese for the HTM diets were 17, 91, and 66 mg/kg, respectively. Data were summarized by period and analyzed as a replicated Latin square design with fixed model effects for corn silage, trace minerals, corn silage × trace mineral interaction, period within replicated square, and replicated square using the MIXED procedure of SAS. Cow within replicated square was a random effect. Cows fed the BM3 diets had greater dry matter intake (DMI) and milk yield (28.1 and 47.0 kg/d) than cows fed the CON diets (27.5 and 44.7 kg/d). We found no significant interaction between corn silage and trace minerals for DMI and milk yield. Cows fed the HTM diets (28.1 kg/d) had a greater DMI than cows fed the STM diets (27.5 kg/d). Cows fed the BM3 diets had greater TTD of DM and OM (72.8 and 74.1% of DM) than cows fed the CON diets (71.1 and 72.3% of DM). Cows fed the HTM diets had a tendency for greater TTD of aNDFom than cows fed the STM diets (56.8 vs. 54.9% of DM). Cows fed the CON diets ruminated longer during the day than cows fed the BM3 diets (524 vs. 496 min/d). Corn silage with greater NDF digestibility and lower uNDF240om enhanced DMI, milk yield, and TTD of DM and OM, and hydroxy trace minerals improved DMI and tended to improve TTD of aNDFom. The source of corn silage and trace minerals should be taken into consideration when formulating diets for high-producing dairy cows.

Percutaneous Chevron/Akin (Peca) Versus Open Scarf/Akin (Sa) Osteotomies Treatment in Hallux Valgus: A Systematic Review and Meta-Analysis of 137 Feet

Category:BunionIntroduction/Purpose:The surgical treatment of hallux valgus presents several techniques described in the literature. Recently the percutaneous technique appeared as a less invasive option in the correction of the deformity and more and more used by the surgeons.Methods:The meta-analysis was performed through studies found from the systematic review of articles included in electronic databases (Medline, Scopus, Embase and the Cochrane Library) until June 2018 (Systematic Review Registry PROSPERO: CRD42018096613). The pooled analysis was synthesized from clinical outcomes such as visual analogue scale of pain and AOFAS score, radiographic outcomes and evaluation of complications, with 95% confidence interval. The pooled data were weighted using the fixed model effect.Results:Two studies, including 137 feet with hallux valgus diagnosis were added in the analysis, comparing open surgery using the Scarf and Akin (SA) technique versus the percutaneous Chevron and Akin (PECA). In the synthesis of the result, pain in the perioperative period was lower in the PECA group, with a reduction of 1.96 points in the fixed effect model (95% CI = -2.28 to - 1.65, p = 0.53, i2 = 0%, t2 = 0), without presenting differences between techniques in the radiographic result, nor in the risk of complications. The PECA technique demonstrated longer radioscopy time when compared to SA.Conclusion:The use of the percutaneous method (PECA) to correct hallux valgus when compared to the open technique (SA) demonstrated less pain in the perioperative period, similar potential of radiographic correction and an equal risk of complications, with a longer radioscopy time.

Effects of Capital Expenditures, Development Index and Unemployment on Poverty in Gorontalo Province

This study aims to analyze the effect of capital expenditure in the form of regional government budgets to obtain fixed assets, the Human Development Index and Unemployment to the Poverty Level in Gorontalo Province. The data used are secondary data obtained from the Gorontalo Province Central Bureau of Statistics and the Registration Management Information System (Simreg Bappenas) during the period 2010-2015, the unit of analysis is 5 districts 1 city in Gorontalo Province. The research estimate uses panel data multiple regression analysis with the Fixed Model Effect (FEM) method. The results of the study indicate that (i) The amount of capital expenditure allocated by each region in Gorontalo Province shows a positive and significant influence on the Poverty Level in the 2010-2016 period. (ii) The Human Development Index, which is a benchmark for the achievement of an area in three basic things such as life expectancy, education level, and a decent level of life, turned out to have a positive and significant influence on the District / City Kemskinan Level in Gorontalo Province. (iii) Unemployment has a positive but not significant effect on the District / City Poverty Level in Gorontalo Province in the period 2010-2016.Keywords: Capital Expenditures, Development Index, Unemployment, Poverty

Government's impact on the financial performance of electric service providers as both regulator and shareholder

This study examines how the government affects the financial performance of utility companies, both as a regulator and shareholder. We address government-led legislative changes affecting the electricity sector, privatization initiatives, and state interventionism in an emerging market country during the period 2010–2015, when the electricity sector was subjected to an exogenous shock. Working within an institutional economics framework, we hypothesize about government influence on the financial performance of electricity providers. Using the differences in differences (diff-in-diff) technique as a regression model for fixed-effects of panel data, we found support for our hypothesis.

Efficacy and safety of dipeptidyl peptidase-4 inhibitors in the treatment of type 2 diabetes mellitus patients with moderate to severe renal impairment: a meta-analysis.

Dipeptidyl peptidase-4 (DPP-4) inhibitors are a new class of oral antidiabetic agents for type 2 diabetes mellitus (T2DM) patients. However, the effects and safety of DPP-4 inhibitors in T2DM patients with renal impairment (RI) remain controversial. Therefore, we conducted this meta-analysis to assess the efficacy and safety of DPP-4 inhibitors in T2DM patients with moderate to severe RI. The PubMed, Embase, and Web of Science database were searched for published randomized controlled trials (RCTs), which compared DPP-4 inhibitors with placebo or a control regimen. A fixed-model effect or random-effect model was used to assess the effects of DPP-4 inhibitors on T2DM patients with RI. Subgroup analysis or meta-regression analysis were performed to explore the potential sources of heterogeneity among the included studies. 13 RCTs with a total of 2,940 patients were included in this meta-analysis. Compared with other treatments, DPP-4 inhibitors were associated with a greater change in HbA1c level (weight mean difference (WMD)=-0.50, 95%CI: -0.61, -0.39; p<0.001), and a higher response rate of patients achieving the HbA1c goal of <7% (risk ratio (RR)=1.38, 95%CI: 1.12, 1.70; p=0.002). Subgroup analysis suggested that the reduced HbA1c was observed in all types of DPP-4 inhibitors, and in patients with moderate or severe RI, but not in those with end-stage renal disease. DPP-4 inhibitors did not significantly lower the FPG level (WMD=-0.36, 95%CI: -0.92, 0.20; p=0.204), and this was seen in all types of DPP-4 inhibitors except gemigliptin, which showed a significant reduction in FPG level. The prevalence of adverse events (RR=0.98, 95%CI: 0.94, 1.02; p=0.256) in the two groups was not significantly different, and DPP-4 inhibitors did not induce a higher rate of hypoglycemia (RR=1.31, 95%CI: 0.97, 1.77; p=0.075). DPP-4 inhibitors significantly lowered HbA1c levels in T2DM patients with moderate to severe RI. And the treatment of DPP-4 inhibitors did not increase the risk of hypoglycemia and adverse events. Considering the potential limitations in this meta-analysis, more large-scale, well-conducted RCTs are needed to identify our findings.

Efficacy of Nutritional Interventions on Inflammatory Markers in Haemodialysis Patients: A Systematic Review and Limited Meta-Analysis.

Low-grade chronic inflammation is prevalent in patients undergoing haemodialysis (HD) treatment and is linked to the development of premature atherosclerosis and mortality. The non-pharmacological approach to treat inflammation in HD patients through nutritional intervention is well cited. We aimed to assess the efficacy of different nutritional interventions at improving inflammatory outcomes in HD patients, based on markers such as C-reactive protein (CRP), interleukin-6 (IL-6), and tumour necrosis factor-α (TNF-α). We searched PubMed, Cochrane Library, and Embase for randomized controlled trials (RCT) published before June 2017. Inclusion criteria included RCTs on adult patients on maintenance HD treatment with duration of nutritional interventions for a minimum 4 weeks. Risk of bias was assessed using the Jadad score. In total, 46 RCTs experimenting different nutritional interventions were included in the review and categorized into polyphenols rich foods, omega-3 fatty acids, antioxidants, vitamin D, fibres, and probiotics. Meta-analyses indicated significant reduction in CRP levels by omega-3 fatty acids (Random model effect: −0.667 mg/L, p < 0.001) and vitamin E (fixed model effect: −0.257 mg/L, p = 0.005). Evidence for other groups of nutritional interventions was inconclusive. In conclusion, our meta-analysis provided evidence that omega-3 fatty acids and vitamin E could improve inflammatory outcomes in HD patients.

Determinants of Profitability of Islamic Banks of Pakistan – A Case Study on Pakistan’s Islamic Banking Sector

The purpose of this study is to find out the determinants of Islamic banks of Pakistan. The author collected data of five Islamic banks of Pakistan over ten years extending from 2006-2015. The independent variables were GDP, Size, Inflation &amp; Liquidity whereas dependent variables were Return on Asset. By using STATA software and employed panel regression, the researcher found that in fixed model effect, there are two significant variables at 5% i.e., size of Islamic banks and liquidity. Liquidity has positive whereas size has negative impact on profitability of Islamic banks. The findings will be helpful for Islamic banking sector to make their policies accordingly.&#x0D; Keywords: Islamic Banks, Size, GDP, Inflation, Liquidity, Return On Assets

INFLUENCE OF FINANCIALIZATION OF INCOME INEQUALITY IN ASEAN: DATA PANEL ANALYSIS

This paper examines the impact of financialization on income inequality in ASEAN-5 countries for the period of 1990-2013 by employing panel data analysis. The data was collected from various secondary sources by undertaking fixed effect model and generalized method moment. The result shows that there is a significant relationship between all financialization indicators and income distribution. Generalized method moment analysis using Arellano-Bond estimator also shows that all financialization indicators have a significant relationship with income distribution. There is no different sign estimator both in fixed model effect and generalized method moment analysis. This paper revealed that financialization indicators such as stock market capitalization and return on assets contribute positively to worsen income inequlality. Incontrast, domestic private debt securities have a negative effect on gini coefficient in ASEAN-5 countries indicating that increasing domestic private debt securities will improve income distribution in the region.

Significantly Lower Pregnancy Rates in the Presence of Progesterone Elevation in Patients Treated with GnRH Antagonists and Gonadotrophins: A Systematic Review and Meta-Analysis

The current meta-analysis aimed to answer the following research question: is progesterone elevation on the day of hCG administration associated with the probability of clinical pregnancy in women undergoing ovarian stimulation for IVF using GnRH antagonists? A literature search in MEDLINE, EMBASE and CENTRAL electronic databases followed by extensive hand-searching from two independent reviewers was performed to identify relevant studies. Eventually five eligible studies (n=585 patients) were identified. No significant differences were present between patients with and those without progesterone elevation regarding female age, duration of stimulation and total dose of gonadotrophins required. However, patients with progesterone elevation were characterized by higher serum estradiol levels on the day of hCG administration (+956 pg/ml, 95% +248 to +1664, random effects model, p=0.008) and more COCs retrieved (+2.9, 95% CI +1.5 to +4.4, fixed effects model, p < 0.001). Progesterone elevation on the day of hCG administration was associated with a significantly decreased probability of clinical pregnancy per cycle (-9%, 95% CI -17 to -2, fixed model effects, p). In conclusion, in patients treated with GnRH antagonists and gonadotrophins, progesterone elevation on the day of hCG administration is significantly associated with a lower probability of clinical pregnancy.

Comparative Study on the Bioequivalence of Two Formulations of Pravastatin

An open-label, randomised, crossover single-dose study, using two periods, two sequences, with a minimum washout period of 7 days, was conducted in order to assess the comparative bioavailability of a pravastatin (CAS 81131-70-6) 40 mg formulation and that of a reference formulation. Blood samples were collected up to +14 h post dosing, the plasma was separated and pravastatin concentrations were determined by high-performance liquid chromatographic method with tandem mass spectrometry detection (HPLC-MS/MS), with a lower limit of quantification of 0.40 ng/mL. Bioequivalence analyses were conducted using two models. The main analysis was done according to a general linear model (model I) using formulation, period and sequence as fixed model effects, and subject(sequence) and residual as random effects; gender-related differences were investigated using ANOVA (model II), including formulation, period, sequence, gender, sequence-by-gender interaction and gender-by-formulation interaction as fixed model effects and subject within sequence-by-gender interaction and residual as random effect. Mean values of the individual Cmax were 126.73 +/- 61.99 ng/mL and 123.52 +/- 52.78 ng/mL for the test and reference, spectively. Mean +/- SD total area under the curve up to the last measurable concentration (AUClast) was 224.26 +/- 104.74 ng x h/mL for the test formulation and 216.55 +/- 80.30 ng x h/mL for the reference formulation. Mean +/- SD total area under the curve (AUCinf) was 226.72 +/- 104.69 ng x h/mL for the test formulation and 218.81 +/- 79.95 ng x h/mL for the reference. Terminal elimination half-life was 2.15 +/- 0.85 h for test and 1.97 +/- 0.54 h for the reference. Ninety percent confidence intervals were comprised within the bioequivalence acceptance criteria (80-125 %) for all of the parameters analysed, both using model I and model II. Model II returned a statistically significant gender effect (p < 0.05) for Cmax, AUClast and AUCinf but the effect became non-significant (p > 0.05) when the dose was adjusted per body weight for all three parameters. The comparison between male and female mean body weight showed a significant difference: p = 0.03, 95 % confidence intervals 68.27-76.93 kg (men), 56.84-60.61 kg (women). These results suggest that the effect of gender in the bioequivalence analysis in model I could be due to a difference in body weight between males and females. Both formulations were shown to be bioequivalent in terms of rate and extent of absorption, irrespectively of the model used.

Erratum to “Genetic parameters of insect bite hypersensitivity in Dutch Friesian broodmares” (J. Anim. Sci. 89:1286–1293)

s e 2 1 = . Uninformative (flat) priors were assumed for all random model effects, being inverse χ 2 distribution. Shrinkage of fixed model effects was used to prevent poor convergence (Janss, 2008). Marginal posterior distributions of heritability, repeatability, and maternal effect were assessed using iBay software (Janss, 2008). An inverse probit link function, µ � ii = ( ) � , was used to relate the linear predictor ( ), h i the IBH liability, to the conditional mean on the observed scale (µi), where F is the cumulative distribution function of the standard normal distribution and µi is the expected response on the observed scale (Kachman, 2000). Schurink, A., B. J. Ducro, H. C. M. Heuven, and J. A. M. van Arendonk. 2011. Genetic parameters of insect bite hypersensitivity in Dutch Friesian broodmares. J. Anim. Sci. 89(5):1286–1293.