Initial Public Research Articles

A comprehensive, improved protocol for generating common bean (Phaseolus vulgaris L.) transgenic hairy roots and their use in reverse-genetics studies.

Generating transgenic hairy roots has been the preferred strategy for molecular studies in common bean (Phaseolus vulgaris L.), since generating stable knockout lines in this species is challenging. However, the number of plants producing hairy roots following the original protocol published in 2007 is usually low, which has impeded progress. Since its initial publication, the original protocol has been extensively modified, but these modifications have not been adequately or systematically reported, making it difficult to assess the reproducibility of the method. The protocol presented here is an update and expansion of the original method. Importantly, it includes new, critical steps for generating transgenic hairy roots and using them in molecular analyses based on reverse-genetics approaches. Using this protocol, the expression of two different genes, used as an example, was significantly increased or decreased in approximately 30% of the transformed plants. In addition, the promoter activity of a given gene was observed, and the infection process of rhizobia in transgenic hairy roots was monitored successfully. Thus, this improved protocol can be used to upregulate, downregulate, and perform promoter activity analysis of various genes in common bean transgenic hairy roots as well as to track rhizobia infection.

Unstable platforms: Uber’s business model and the challenge of organisational legitimacy

ABSTRACT Lauded as the poster child of the sharing economy, the success of Uber’s business model was once viewed as inexorable. However, a disastrous Initial Public Offering and a series of legal rulings since have led some to question whether it has a viable model at all. This changing sentiment raises important questions about how we define a business model and understand the determinants of its success and failure. Rejecting the dominant diagnostic approach, this paper synthesises critical accounting work on business models as narratives with Suchman’s concept of organisational legitimacy. We argue that business models are narratives articulated by firms in order to achieve both pragmatic and moral legitimacy. In contexts where stakeholder interests diverge, this requires careful framing in order to foreground certain economic and moral representations whilst omitting others. Business model narratives are consequently partial, unstable and open to contestation. Applying this formulation to Uber, we argue that its pragmatic legitimacy was contingent upon a particular set of conjunctural conditions and the undisclosed exploitation of legal grey areas in order to grow at scale. We highlight the tensions that emerge when those undisclosed practices become a focal point for social mobilisation and understand Uber's recent problems as emerging from external challenges to the moral legitimacy of its business model narrative. The paper contributes to accounting research on business models and legitimacy and presents a revisionist account which positions platforms as fragile economic and moral entities dependent on conjunctural institutional and capital market arrangements, rather than heroic technological disruptors.

Clinical Impacts of Implementing the 2021 Race-Free Chronic Kidney Disease Epidemiology Collaboration Estimated Glomerular Filtration Rate.

Estimated glomerular filtration rate (eGFR) has become incorporated into multiple clinical management situations. Historically, equations included a Black race coefficient, which lacked biological plausibility and created potential to exacerbate health disparities. A new equation created in 2021 changed the weighting of age, sex, and creatinine by modeling against a diverse cohort and removing the Black race coefficient. A variety of clinical outcomes including kidney disease risk stratification, medication dosing, patient eligibility for clinical trials, and kidney donation are impacted by implementation of the new equation. Nearly 2 years after its initial publication, many studies have reported on observed analytical performance of the 2021 eGFR determined as diagnostic concordance and percentage of estimates within 30% of measured GFR. Additionally, the potential clinical impacts following adoption of the new eGFR among different patient populations has also been reported. Here we review these studies with a focus on assessing the data associated with the transition from 2009 to 2021 Chronic Kidney Disease Epidemiology Collaboration equations. The reported interindividual variation in eGFR performance is significantly larger than any potential benefit derived from race coefficients. Both the 2021 eGFR and the 2009 eGFR analytical performance fall short of the validation cohort performance in most cohorts. However, the 2021 analytical is similar or better than the 2009 eGFR in most cohorts. Implementing the 2021 eGFR will remove a systematic overestimation of kidney function among Black patients.

Impact of Macroeconomic Factors on Initial Public Offer: An Analytical Study of Investor’s Decision

The financial performance and economic stability of any listed company in India will be measured using various financial and accounting methods. The premise of such matters starts with IPOs (Initial Public Offerings) being issued at the right time and suitable period. Before launching any IPO, a particular company will study a lot of macro and micro economic factors of the concerned region and their impact on IPO success rate. An IPO is a giant leap for a company as it gives access to raising colossal capital. This enhances the ability of a company to expand exponentially. This paper attempted to study several macroeconomic factors that impact Uttar Pradesh's state in the Agra division districts (Agra, Firozabad, Mathura, and Mainpuri) and the investor purchase behavior of different IPOs. Additionally, the research examines four factors namely GDP, Unemployment, Inflation, and Interest rates that are comparatively more significant in a long-run relation. This research found that GDP, inflation rate, and interest rate substantially impact IPO purchase decisions. However, the rate of unemployment has been discovered to have no significant effect on investors' IPO purchase decisions.

Analisis Perbandingan Kinerja Keuangan Perusahaan Sebelum dan Sesudah Initial Public Offering (IPO) pada Perusahaan yang Listing di BEI

The purpose of this study was to compare the financial results of IDX companies before and after their IPO to determine if there is a correlation between the two. Purposive sampling was employed to choose a subset of the study population (n=42) from among the full (n=51) population. All information for this study comes directly from the IDX's official website, making it a secondary data source. A company's financial results before and after its initial public offering (IPO) serve as independent and dependent variables, respectively. While a documentation study is utilized to collect data. A comparison of the company's liquidity ratio, leverage ratio, profitability ratio, and activity ratio before and after its IPO was found to be statistically significant (P .05) or not (P >.05), respectively, using the Wilcoxon Signede-rank test method.
 Keywords: Initial Public Offering (IPO), Liquidity Ratio, Leverage Ratio, Profitability Ratio, and Activity Ratio, Financial Performance.

Corporate Taxes and Initial Public Offerings: Evidence from the Tax Cuts and Jobs Act

Corporate Taxes and Initial Public Offerings: Evidence from the Tax Cuts and Jobs Act

Pengaruh Variabel Keuangan dan Non Keuangan terhadap Underpricing Saham Perusahaan yang Melakukan IPO di BEI Tahun 2020-2022

<h3>This research is entitled "The Influence of Financial and Non-Financial Variables on the Underpricing of Shares of Companies Conducting Initial Public Offerings (IPO) on the Indonesia Stock Exchange (IDX) in 2020-2022". The purpose of this study is to prove whether there is influence of financial and non-financial variables on underpricing. This research was conducted on companies that conducted an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX) and were registered on the development board using a purposive sampling research method, in order to obtain a sample of 75 companies. This study uses a quantitative approach with SmartPLS software. The results of this study indicate that financial variables with indicators of Earning per Share (EPS), Return on Equity (ROE), Return on Assets (ROA) and company size have a significant effect on underpricing, as well as non-financial variables with indicators of the percentage of share ownership have a significant effect against underpricing.</h3><p> </p>

Monte Carlo Stellar Dynamics near Massive Black Holes: Two-dimensional Fokker–Planck Solutions of Multiple Mass Components

In this study we present a novel Monte Carlo code, referred to as GNC, which enables the investigation of dynamical relaxation in clusters comprising multiple mass components in the vicinity of supermassive black holes at the centers of galaxies. Our method is based on two-dimensional Fokker–Planck equations in the energy and angular momentum space, and allows the evolution of multiple mass components, including stars and compact objects. The code demonstrates remarkable flexibility in incorporating additional complex dynamics. By employing a weighting method, we effectively enhance the statistical accuracy of rare particle results. In this initial publication, we present the fundamental version of our method, focusing on two-body relaxations and loss cone effects. Through comparisons with previous studies, we establish consistent outcomes in terms of relaxation processes, energy and angular momentum distributions, density profiles, and loss cone consumption rates. We consistently observe the development of tangential anisotropy within the cluster, while the outer regions tend to retain near-isotropic characteristics. GNC holds great promise for exploring a wide range of intriguing phenomena within galactic nuclei, including relativistic stellar dynamics, providing detailed and insightful outcomes.

Accrual and real earnings management by rumored takeover targets

In this study we find evidence of income-increasing accrual and real earnings management occurring up to two quarters prior to the initial publication of a takeover rumor. We also find that post-rumor earnings management depends on both its form (accrual or real) as well as whether the rumor eventuates, observing income-decreasing accrual earnings management when the rumor is not accurate. Moreover, cumulative measures of earnings management for the month prior to the rumor are significant predictors of rumor accuracy, while being negatively correlated to rumor date and long-run returns. We interpret results as being consistent with rational expectations theory and note how managerial motivations may adapt to the degree of takeover likelihood.

Pengaruh Kinerja Keuangan, Kebijakan Dividen, Ukuran Perusahaan dan Kepemilikan Manajerial Terhadap Nilai Perusahaan Setelah Initial Public Offering

Company size, and managerial ownership on company value after Initial Public Offering (IPO) among property sector companies listed on the Indonesia Stock Exchange from 2019 to 2022. When a company has capital, it has a significant opportunity for expansion to create value growth for the company. The funding obtained at the IPO or its proceeds is determined based on underwriter arguments to establish the company's value according to the reflected information for profit. The ratios used in this research are Financial Performance, Dividend Policy, Company Size, and Managerial Ownership. The research methodology employed in this study is quantitative research, and data collection techniques consist of collecting, recording, and analyzing secondary data in the form of financial reports from property sector companies published by the Indonesia Stock Exchange through its website from 2019 to 2022. The sample in this research was selected using purposive sampling, resulting in a sample of 11 property companies that meet the sample criteria. The data analysis method used is multiple linear regression analysis, and the testing is conducted both partially and simultaneously. The results of this research indicate that financial performance, dividend policy, company size, and managerial ownership do not significantly influence the company's value after IPO. However, when considered simultaneously, financial performance, dividend policy, company size, and managerial ownership collectively influence the company's value after IPO

Membrane transporters in drug development and as determinants of precision medicine.

The effect of membrane transporters on drug disposition, efficacy and safety is now well recognized. Since the initial publication from the International Transporter Consortium, significant progress has been made in understanding the roles and functions of transporters, as well as in the development of tools and models to assess and predict transporter-mediated activity, toxicity and drug-drug interactions (DDIs). Notable advances include an increased understanding of the effects of intrinsic and extrinsic factors on transporter activity, the application of physiologically based pharmacokinetic modelling in predicting transporter-mediated drug disposition, the identification of endogenous biomarkers to assess transporter-mediated DDIs and the determination of the cryogenic electron microscopy structures of SLC and ABC transporters. This article provides an overview of these key developments, highlighting unanswered questions, regulatory considerations and future directions.

Do Initial Public Offering Strategies Improve Firm's Performance? Evidence from Emerging Country

The firm’s decision to become a public firm is very interesting to analyze and reveal its performance. This study aims to reveal the firm’s performance in the short and medium term after conducting an initial public offering (IPO). In addition, the choice of the IPO strategy, that are share-only IPO (SIPO) or package IPO (PIPO) also affects the firm’s performance. Annual reports of up to 3 years of 155 companies conducting IPOs from 2010 to 2016 are used to examine the short-term and medium-term impacts of the IPO process. A very surprising result of this study is that IPO companies cannot show better performance in the short and medium term after the IPO, including State-Owned Enterprises (SOE), it gets worse if the company decides to use PIPO as a strategy during the IPO.
 Keywords: initial public offering, firm performance, share-only IPO, package IPO

A Review of Research on Factors Influencing IPO Premiums

The IPO (Initial Public Offering) market has garnered increasing attention in recent years, and the IPO issue premium, as an important indication, is vital for both investors and firms. The purpose of this research is to investigate the elements that influence the IPO offering premium. This article discover numerous crucial factors after examining and organizing related papers. First, the registration system, including its development history, is a key component in determining the IPO issue premium. Second, the market environment, such as market volatility and market maturity, influences the IPO issue premium. Furthermore, investor mood has a significant impact on the IPO issue premium. Finally, the prominence and experience of underwriting organizations have an impact on IPO issuance premiums. This study verifies the impact of the aforementioned factors on IPO issuance premiums and makes some interesting results by gathering relevant data and employing appropriate statistical methodologies. With a better grasp of these aspects, investors and firms can make more educated investment decisions by better understanding the mechanism of IPO issuance premium development.

The Express Delivery Company Goes Public Through a Backdoor Listing based on the Backdoor Listing of Dingtai New Material by SF Express

In China, enterprises face relatively huge costs in going public, resulting in enterprises preferring indirect listing methods such as backdoor listing to Initial Public Offerings (IPO). At the same time, backdoor listing has also saved many traditional industries with declining performance, making both parties win-win. At present, the logistics industry is developing rapidly. In 2016, logistics companies have been backdoor listing, logistics industry competition is becoming increasingly fierce, and more and more logistics enterprises choose to go public in order to enhance competitiveness and improve the status of the industry. Choosing the right timing and backdoor listing with a precise strategy will produce no less wealth than an IPO. This paper takes SF Express' backdoor listing of Dingtai New Material as a case, conducts performance analysis based on a theoretical basis, studies the impact of backdoor listing on the financial performance of enterprises, and provides experience for other logistics enterprises planning to adopt backdoor listing.

The Influence Of Auditor Reputation, Firm Size, And Underwriter's Reputation On Share Underpricing

This study aims to examine the effect of auditor reputation, firm size, and underwriter reputation on stock underpricing. The population used in this study were companies that conducted an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX) for the period 2018 – 2021. The sample in this study was 124 companies using a purposive sampling method. The data analysis method in this study used multiple linear regression analysis with SPSS Version 26. The results showed that auditor reputation had a significant negative effect on stock underpricing, while firm size and underwriter reputation had a significant positive effect on stock underpricing and auditor reputation, firm size, and underwriter reputation simultaneously had a significant positive effect on stock underpricing Keywords: Auditor Reputation, Firm Size, Underwriter Reputation, Stock Underpricing

Analysis of the Failure of Himalayan Companies' Initial Public Offering

With the increasing demand for consumer virtual entertainment products, the network audio industry has ushered in huge development opportunities. At the same time, having sufficient funds is a necessary prerequisite to ensure that companies in the network audio industry seize opportunities and take the lead in seizing the market. Subsequently, more and more companies in the network audio industry are seeking to raise funds through initial public offerings. However, the network audio industry is a content provider based on the Internet, which has characteristics such as high initial investment and long profit cycles, resulting in lower IPO pass rates than the overall level. This study delves into the reasons for the IPO failure of Himalayan companies and further proposes specific countermeasures. Finally, based on the case of Himalayan companies, the article provides some suggestions for other network audio industry companies that want to go public and raise funds.

The Successful Implementation of The Electronic System of Initial Public Offering ("E-IPO") in The Indonesian Capital Market

The Successful Implementation of The Electronic System of Initial Public Offering ("E-IPO") in The Indonesian Capital Market

IPO Fund Raising and Chinese Markets IPO Suspension

During the period spanning from 2007 to 2021, China had substantial increase in its Gross Domestic Production (GDP). However, it is noteworthy that this rise was not mirrored by a commensurate expansion in China's A-share market. When examining the performance of China's stock market in relation to other major global economies within the same time frame, it becomes evident that the overall returns of China's stock market are comparatively lower. For example, Standard & Poors 500 increased 236.11%, Nasdaq Composite Index increased 547.75%, the German Stock Index 30 increased 109.99%, and Nikkei Stock Average (Nikkei 225) increased 66.21%, whereas Shanghai Stock Exchange Composite Index increased 33.41%. Based on the monthly Initial Public Offering (IPO) proceeds of China's stock market from 2007 to 2021, this paper comprehensively examines the impact of IPO activities on China's stock market, including the correlation coefficients among IPO fundraised, index amplitude, index return, and GDP. By studying the correlation between the Chinese All-securities Index (CSI) data and IPO fundraising, as well as exploring the impact of policy changes on the market, it can be concluded that IPO fundraising itself has a limited impact on market returns. The low yield in China's country's stock market might be due to corporate information asymmetry, corporate information fraud, and imperfect supervision. The contributions of this paper include the summary and interpretation of China's IPO and related data, the interpretation of China's IPO reform and other policy actions, and the suggestions for the future development direction of China's market.

Charles Mills’ The Racial Contract at 25: Reconsiderations

ABSTRACT Recosiderations of Charles Mills’ The Racial Contract a quarter-century after its initial publication and my first reading trouble previous assessments as my reengagement with the text brings to the fore several items of Mills’ authorial and critical agendas that are not easily reconciled, in the text or by my still sympathic reading.

Beyond the Nation State: Rereading Hannah Arendt’s “We Refugees” Eighty Years Later

Hannah Arendt’s seminal yet overlooked essay “We Refugees” was written and published in Menorah Journal in 1943 while she was still a stateless refugee. In this essay, Arendt vividly describes the impossible situation that the stateless Jewish refugees faced before and during Second World War. However, Arendt does not reduce it to a series of individual tragedies, but instead develops a highly original analysis of refugees as a systematic political phenomenon that exposes the limitations of the nation-state system and simultaneously points beyond it. This analysis remains more relevant than ever today, eighty years after its initial publication.