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Lower Cost (lower + cost)
Selected AbstractsTreatment of Acute Renal Failure in the Intensive Care Unit: Lower Costs by Intermittent Dialysis Than Continuous Venovenous HemodiafiltrationARTIFICIAL ORGANS, Issue 8 2009Stefan Farese Abstract Intermittent and continuous renal replacement therapies (RRTs) are available for the treatment of acute renal failure (ARF) in the intensive care unit (ICU). Although at present there are no adequately powered survival studies, available data suggest that both methods are equal with respect to patient outcome. Therefore, cost comparison between techniques is important for selecting the modality. Expenditures were prospectively assessed as a secondary end point during a controlled, randomized trial comparing intermittent hemodialysis (IHD) with continuous venovenous hemodiafiltration (CVVHDF). The outcome of the primary end points of this trial, that is, ICU and in-hospital mortality, has been previously published. One hundred twenty-five patients from a Swiss university hospital ICU were randomized either to CVVHDF or IHD. Out of these, 42 (CVVHDF) and 34 (IHD) were available for cost analysis. Patients' characteristics, delivered dialysis dose, duration of stay in the ICU or hospital, mortality rates, and recovery of renal function were not different between the two groups. Detailed 24-h time and material consumption protocols were available for 369 (CVVHDF) and 195 (IHD) treatment days. The mean daily duration of CVVHDF was 19.5 ± 3.2 h/day, resulting in total expenditures of ,436 ± 21 (21% for human resources and 79% for technical devices). For IHD (mean 3.0 ± 0.4 h/treatment), the costs were lower (,268 ± 26), with a larger proportion for human resources (45%). Nursing time spent for CVVHDF was 113 ± 50 min, and 198 ± 63 min per IHD treatment. Total costs for RRT in ICU patients with ARF were lower when treated with IHD than with CVVHDF, and have to be taken into account for the selection of the method of RRT in ARF on the ICU. [source] Hypnosis May Lower Costs of Breast SurgeryCA: A CANCER JOURNAL FOR CLINICIANS, Issue 1 2008Article first published online: 31 DEC 200 No abstract is available for this article. [source] Representation of Pseudo Inter-reflection and Transparency by Considering Characteristics of Human VisionCOMPUTER GRAPHICS FORUM, Issue 3 2002H. Matsuoka We have succeeded in developing a quick and fully automated system that can generate photo-realistic 3D CG data based on a real object. A major factor in this success comes from our findings through psychophysical experiments that human observers do not have an accurate idea of what should be actually reflected as inter-reflections on the surface of an object. Taking advantage of this characteristic of human vision, we propose a new inter-reflection representation technique in which inter-reflections are simulated by allowing the same quantity of reflection components as there are in the background to pass through the object. Since inter-reflection and transparency are calculated by the same algorithm, our system can capture 3D CG data from various real objects having a strong inter-reflection, such as plastic and porcelain items or translucent glass and acrylic resin objects. The synthetic images from the 3D CG data generated with this pseudo inter-reflection and transparency look very natural. In addition, the 3D CG data and synthetic images are produced quickly at a lower cost. [source] Clinical impact (cost-effectiveness) of qualifying atypical squamous cells of undeterminate significance (ASCUS) in cases favoring a reactive or dysplastic processDIAGNOSTIC CYTOPATHOLOGY, Issue 1 2003F.M. Carozzi Ph.D. Abstract The cost-effectiveness of qualifying ASCUS cases into two different subcategories, favoring a reactive (ASCUS-R) or dysplastic process (ASCUS-S), was evaluated at the Centro per lo Studio e la Prevenzione Oncologica of Florence in a prospective study. The study determined the positive predictive value (PPV) for histologically confirmed cervical intraepithelial neoplasia grade 2 (CIN2) or more (CIN>) severe lesion of the two ASCUS subgroups. ASCUS-S had a PPV (10.78%) comparable to low-grade squamous intraepithelial lesions (LSIL) (11.40%). For ASCUS-R cases, the recommendation of 6-mo repeat cytology prompting colposcopy in cases of persistent ASCUS or more severe cytology was also effective, as it selected a subgroup with a relatively high PPV (10.34%). The cost-effectiveness of a protocol based on ASCUS qualification was compared with two other possible options for nonqualified ASCUS cases: immediate colposcopy and colposcopy in persistent ASCUS at 6-mo repeat cytology.. The detection rate of CIN2> was substantially higher using ASCUS qualification (35.9 vs 14.8 or 17.1). The cost per ASCUS subject was ,24.99, 27.11, or 25.14 and that per CIN2> detected was ,697, 1,831 or 1,470 for the three options, respectively. The evidence that ASCUS detection option implies a higher detection rate of CIN2> and subsequently a lower cost per CIN2> detection must be considered with caution and deserves confirmation by other comparative studies. Diagn. Cytopathol. 2003;29:4,7. © 2003 Wiley-Liss, Inc. [source] The Economics of a Reduction in VAT,FISCAL STUDIES, Issue 1 2009Ray Barrell H30; E62; E21; E37 Abstract We explore the effects of a temporary cut in VAT, identifying three possible effects: an income effect as people benefit from a lower cost of living during the period of the reduction, a substitution effect as people bring their consumption forward and an arbitrage effect as people buy non-perishable goods before the end of the period of low VAT for consumption after the VAT rate has been raised. International evidence suggests a clear overall impact on consumption, although the nature of the pattern depends on the way in which the data are analysed. However, the key policy issue is the impact of the VAT change on output and, to examine that, a simulation model of the whole economy is needed. Evidence from the National Institute's Global Economic Model suggests that the impact of the recent VAT reduction is likely to build up during the course of 2009. The reduction in VAT from 17½ per cent to 15 per cent is likely to result in consumption being augmented by less than 1 per cent by the fourth quarter of 2009. However, GDP is likely to be raised by less than half a per cent relative to what would have happened without the VAT increase. After the temporary reduction is over, both consumption and GDP are depressed as a result of the policy. [source] The Anticipated Capitalisation Effect of a New Metro Line on Housing Prices,FISCAL STUDIES, Issue 2 2008Claudio A. Agostini H54; R21; R53 Abstract Housing units with closer access to public transportation enjoy a higher market value than those with similar characteristics but poorer access. This difference can be explained by the lower cost of transport to the main workplaces and shopping areas in town. For this reason, investments in public transport infrastructure, such as building a new metro line, are capitalised totally or partially into land and housing prices. This work empirically analyses the degree of capitalisation into housing prices of the benefits of the new Line 4 of the Santiago metro system, which began operating in December 2005. We focus on anticipated capitalisation into housing prices at the moment construction of Line 4 was announced and at the moment information on the basic engineering project was unveiled, identifying the location of the future stations. We use a unique database containing all home buying and selling transactions in the Greater Santiago area between December 2000 and March 2004. The results show that the average apartment price rose by between 4.2 per cent and 7.9 per cent after construction was announced and by between 3.1 per cent and 5.5 per cent after the location of the stations was identified. These increases were not distributed evenly, but depended on the distance from the apartment to the nearest station. An indirect effect of this kind of capitalization is that property tax collections will increase if property is reappraised following the price rise. This effect is not negligible in magnitude and could represent 11 to 17 per cent of investment in the new metro line. This raises and interesting discussion on how the metro network extension is financed. [source] An Organic Nanoparticle Transistor Behaving as a Biological Spiking SynapseADVANCED FUNCTIONAL MATERIALS, Issue 2 2010Fabien Alibart Abstract Molecule-based devices are envisioned to complement silicon devices by providing new functions or by implementing existing functions at a simpler process level and lower cost, by virtue of their self-organization capabilities. Moreover, they are not bound to von Neuman architecture and this feature may open the way to other architectural paradigms. Neuromorphic electronics is one of them. Here, a device made of molecules and nanoparticles,a nanoparticle organic memory field-effect transistor (NOMFET),that exhibits the main behavior of a biological spiking synapse is demonstrated. Facilitating and depressing synaptic behaviors can be reproduced by the NOMFET and can be programmed. The synaptic plasticity for real-time computing is evidenced and described by a simple model. These results open the way to rate-coding utilization of the NOMFET in dynamical neuromorphic computing circuits. [source] Improving Kirchhoff migration with repeated local plane-wave imaging?GEOPHYSICAL PROSPECTING, Issue 6 2005A SAR-inspired signal-processing approach in prestack depth imaging ABSTRACT A local plane-wave approach of generalized diffraction tomography in heterogeneous backgrounds, equivalent to Kirchhoff summation techniques when applied in seismic reflection, is re-programmed to act as repeated synthetic aperture radar (SAR) imaging for seismic prestack depth migration. Spotlight-mode SAR imaging quickly provides good images of the electromagnetic reflectivity of the ground via fast Fourier transform (FFT)-based signal processing. By calculating only the Green's functions connecting the aircraft to the centre of the illuminated patch, scattering structures around that centre are also recovered. SAR technology requires us to examine seismic imaging from the local point of view, where the quantity and quality of the available information at each image point are what are important, regardless of the survey geometry. When adapted to seismics, a local image of arbitrary size and sampling is obtained by FFT of seismic energy maps in the scattering wavenumber domain around each node of a pre-calculated grid of Green's functions. These local images can be used to generate a classic prestack depth-migrated section by collecting only their centres. However, the local images also provide valuable information around the centre, as in SAR. They can therefore help to pre-analyse prestack depth migration efficiently, and to perform velocity analysis at a very low cost. The FFT-based signal-processing approach allows local, efficient and automatic control of anti-aliasing, noise and resolution, including optimized Jacobian weights. Repeated local imaging could also be used to speed up migration, with interpolation between local images associated with a coarse grid of Green's functions, as an alternative to interpolation of Green's functions. The local images may, however, show distortions due to the local plane-wave approximation, and the velocity variations across their frame. Such effects, which are not necessarily a problem in SAR, should be controlled and corrected to further enhance seismic imaging. Applications to realistic models and to real data show that, despite the distortion effects, the local images can yield similar information to prestack depth migration, including common-image-point gathers for velocity analyses and AVO/AVA effects, at a much lower cost when a small target is considered. [source] Cost-utility analysis of Canadian tailored prophylaxis, primary prophylaxis and on-demand therapy in young children with severe haemophilia AHAEMOPHILIA, Issue 4 2008N. RISEBROUGH Summary. Primary prophylaxis is the emerging standard treatment for boys with severe haemophilia. Tailored (escalating-dose) prophylaxis (EscDose), beginning at a low frequency and escalating with repeated bleeding may prevent arthropathy at a lower cost than standard prophylaxis (SP). From a societal perspective, we compared the incremental cost per joint-haemorrhage that is avoided and quality-adjusted-life-year (QALY) gained of SP and EscDose to on-demand (Demand) therapy in severe haemophilia A boys treated to age 6 using a decision analytic model. Costs included factor VIII (FVIII), professional visits and tests, central venous placement/complications, hospitalization, home programmes and parents' lost work-days. Resource utilization was estimated by surveying 17 Canadian clinics. The natural history of bleeding and other probabilities were determined from a longitudinal chart review (n = 24) and published literature. EscDose costs an additional $3192 per joint-haemorrhage that was avoided compared with Demand whereas SP costs an additional $9046 per joint-haemorrhage that was avoided compared with EscDose. Clinic costs and lost wages were reduced by 60,80% for EscDose and SP compared with Demand. EscDose attained more QALYs than SP and Demand on account of less bleeding than Demand and lower need for ports than SP. The incremental cost per QALY for EscDose vs. Demand was $542 938. EscDose was less expensive with similar QALYs compared to SP. Sensitivity analysis was performed on all probability- and cost-estimates, and showed the model was sensitive to the cost of FVIII and the SP and target joint utilities. In conclusion, prophylaxis will substantially improve clinical outcomes and quality of life compared to Demand treatment, but with substantial cost. [source] Percutaneous drainage of hydatid cyst of the liver: long-term resultsHPB, Issue 4 2002KY Polat Background Previously surgical operation was the only accepted treatment for hydatid liver cysts. Recently percutaneous management has become more preferable because of its low morbidity rate and lower cost. Patients and methods In all, 101 patients harbouring 120 hydatid cysts of the liver were treated by percutaneous drainage between October 1994 and December 1997. Of these cysts, 89 were in the right liver and 31 in the left liver. Thirty-one patients had had previous operations for hydatid disease. All cysts had an anechoic or hypoechoic unilocular appearance on ultrasound scan. The mean dimension of the cysts was 7.5 ± 2.9 cm (range 3,10.4 cm). All patients received oral albendazole 10 mg/kg perioperatively. After aspiration under sonographic guidance, cysts were irrigated with 95% ethanol. Results The amount of cyst fluid aspirated was 220 ± 75 ml and the amount of irrigation solution used was 175 ± 42 ml. Four patients developed mild fever and three had urticaria. Mean length of hospital stay was 2.1 ± 0.7 (range 1,4) days, and patients were followed up for 43,62 months (mean 54 ± 5.4 months). Maximal cyst diameter decreased from 7.5 ± 2.9 cm to 3.2 ± 15 cm (p<0.001). Sonographic examinations revealed high-level heterogeneous echoes in the cyst cavity (heterogeneous echo pattern), while the cyst cavity was completely obliterated by echogenic material (pseudotumour echo pattern). Discussion Most hydatid cysts of the liver can be managed successfully by acombinationof drugtherapyand percutaneous drainage. [source] A comparison of brain activation patterns during covert and overt paced auditory serial addition test tasksHUMAN BRAIN MAPPING, Issue 6 2008Cristina Forn Abstract The Paced Auditory Serial Addition test (PASAT) is a sensitive task for evaluating cognitive impairment in patients with diffuse brain disorders, such as multiple sclerosis patients. Brain areas involved in this task have been investigated in diverse fMRI studies using different methodologies to control the subjects' responses during scanning. Here, we examined the possible differences between overt and covert responses during the PASAT task in 13 volunteers. Results showed similar activations in parietal and frontal brain areas during both versions of the task. The contrast between the two conditions (overt and covert) indicated that differences in these two methodologies were minimal. Unlike the covert condition, the overt version of the task obtained significant activations in the left superior and inferior frontal gyrus, bilateral occipital cortex, caudate nucleus and cerebellum. As expected, no significant overactivations were observed in the covert when compared with the overt condition. Discussion focuses on the lower cost of using verbal responses to monitor performance during the PASAT task, which might be generalisable to other frontal lobe tasks requiring discrete responses. Hum Brain Mapp, 2008. © 2007 Wiley-Liss, Inc. [source] Novel method for genomic analysis of PKD1 and PKD2 mutations in autosomal dominant polycystic kidney disease,HUMAN MUTATION, Issue 2 2009Ying-Cai Tan Abstract Genetic testing of PKD1 and PKD2 is useful for diagnosis and prognosis of autosomal dominant polycystic kidney disease (ADPKD), particularly in asymptomatic individuals or those without a family history. PKD1 testing is complicated by the large transcript size, complexity of the gene region, and the extent of gene variations. A molecular assay was developed using Transgenomic's SURVEYOR Nuclease and WAVE Nucleic Acid High Sensitivity Fragment Analysis System to screen for PKD1 and PKD2 variants, followed by sequencing of variant gene segments, thereby reducing the sequencing reactions by 80%. This method was compared to complete DNA sequencing performed by a reference laboratory for 25 ADPKD patients from 22 families. The pathogenic potential of gene variations of unknown significance was examined by evolutionary comparison, effects of amino acid substitutions on protein structure, and effects of splice-site alterations. A total of 90 variations were identified, including all 82 reported by the reference laboratory (100% sensitivity). A total of 76 variations (84.4%) were in PKD1 and 14 (15.6%) in PKD2. Definite pathogenic mutations (seven nonsense, four truncation, and three splicing defects) were detected in 64% (14/22) of families. The remaining 76 variants included 26 missense, 33 silent, and 17 intronic changes. Two heterozygous nonsense mutations were incorrectly determined by the reference laboratory as homozygous. "Probably pathogenic" mutations were identified in an additional five families (overall detection rate 86%). In conclusion, the SURVEYOR nuclease method was comparable to direct sequencing for detecting ADPKD mutations, achieving high sensitivity with lower cost, providing an important tool for genetic analysis of complex genes. Hum Mutat 0, 1,10, 2008. © 2008 Wiley-Liss, Inc. [source] Why is there not more ,annualised hours' working in Britain?INDUSTRIAL RELATIONS JOURNAL, Issue 5 2007James Arrowsmith ABSTRACT Annualised hours (AH) contracts offer employers greater control over working time at lower cost. These efficiency gains may also be shared with workers in terms of pay or time off work. Yet AH remains relatively rare in the UK. Though under-researched, one explanation is that AH normally requires collective bargaining, which is disappearing across most of the private sector, and often high-trust employment relations, which is in still shorter supply. [source] Nanotechnologies: Tools for sustainability in a new wave of water treatment processesINTEGRATED ENVIRONMENTAL ASSESSMENT AND MANAGEMENT, Issue 4 2006Jean-Yves Bottero Abstract In the environmental technology industry alone, nanomaterials will enable new means of reducing the production of industrial wastes, using resources more sparingly, remediating industrial contamination, providing potable water, and improving the efficiency of energy production. This paper discusses three new kinds of nanotechnology materials that should be developed in the future: Membranes, oxidants, and adsorbents. Nanoscale control of membrane architecture may yield membranes of greater selectivity and lower cost in both water treatment and water fabrication. Fullerene-based oxidant nanomaterials such as C60 have a high electron affinity and reactivity, and are capable of producing reactive oxygen species such as singlet oxygen and superoxides. Fullerenes might be used in engineered systems to photocatalytically oxidize organic contaminants, or inhibit or inactivate microbes. The ability to tailor surfaces can help to increase adsorbing capacities or recognize specific contaminants. The potential environmental risks are that nanomaterials could interact with biota and that their toxicity adversely may affect ecosystems. As nanochemistry emerges as an important force behind new environmental technologies, we are also presented with the responsibility of considering the environmental implications of an emerging technology at its inception and taking every precaution to ensure that these technologies develop as tools of sustainability rather than becoming future liabilities. [source] A two-stage convective air and vacuum freeze-drying technique for bamboo shootsINTERNATIONAL JOURNAL OF FOOD SCIENCE & TECHNOLOGY, Issue 6 2005Yanyang Xu Summary To obtain dehydrated bamboo shoot slices of high quality, a two-stage hybrid method of drying was tested to see if it could be cost-effective. While freeze-drying provides the best quality bamboo shoot it is a very expensive process. In this study, the drying techniques (a) hot airflow drying followed by vacuum freeze drying and (b) the reverse of the process (a) were examined. The quality of bamboo shoots dried by process (b) was found to be approximately equal to that of freeze-dried bamboo shoots but at a significantly lower cost. This paper reports results comparing the two processes in terms of energy consumption and the physico-chemical properties of the dried bamboo. [source] Satellite rural communications: telephony and narrowband networksINTERNATIONAL JOURNAL OF SATELLITE COMMUNICATIONS AND NETWORKING, Issue 5 2005Roberto Conte Abstract Rural communications are important for large and developing countries, and telecommunications systems have been implemented depending upon the available technology at the time. Rural users do not generate the same amount of revenue as urban users do, thus lowering incentives for rural telecommunications investment with service to those regions delayed as long as possible. Voice and data communications are essential to the economic development of a region, and it has been shown that traffic increases rapidly as soon as the service is available. Satellite-based digital networks provide efficient long-distance service to rural communities at lower cost than similar land-based wired networks with acceptable quality. Small earth stations along with Wireless Local Loops can provide both local and long-distance service efficiently and at low cost, offering digital multimedia services on a global scale. This paper focuses on the description of different narrowband technologies used to service rural communities, namely basic telephone and low-bit-rate data (<64 kbps) applications through the use of satellite and terrestrial wireless systems. A basic network economic planning description is presented, and important parameters such as satellite network size, topology and multiple access are identified in order to improve the process of effective and cost-efficient rural communications network design. Copyright © 2005 John Wiley & Sons, Ltd. [source] Marketing information systems in tourism and hospitality small- and medium-sized enterprises: a study of Internet use for market intelligenceINTERNATIONAL JOURNAL OF TOURISM RESEARCH, Issue 4 2001Emma Wood Abstract This study investigates the nature of marketing information systems (MkIS) within small- and medium-sized enterprises (SMEs) and focuses on the importance of external information and market intelligence. The sources of market intelligence are investigated with particular emphasis on understanding the usefulness of the Internet for external information gathering. The empirical research to support the study uses survey methods to investigate marketing information systems, market intelligence and Internet use within hospitality and tourism SMEs in the Yorkshire and Humber region. The findings indicate that SMEs in this sector make use of informal marketing information systems which mainly concentrate on internal and immediate operating environment data. Important wider market intelligence is underutilised owing mainly to the resource constraints of these smaller businesses. The Internet has not yet been recognised as an important source for market intelligence despite having the benefits of providing much of the necessary data more quickly and at a lower cost than many other sources. Copyright © 2001 John Wiley & Sons, Ltd. [source] Voluntary Disclosure, Earnings Quality, and Cost of CapitalJOURNAL OF ACCOUNTING RESEARCH, Issue 1 2008JENNIFER FRANCIS ABSTRACT We investigate the relations among voluntary disclosure, earnings quality, and cost of capital. We find that firms with good earnings quality have more expansive voluntary disclosures (as proxied by a self-constructed index of coded items found in 677 firms' annual reports and 10-K filings in fiscal 2001) than firms with poor earnings quality. In unconditional tests, we find that more voluntary disclosure is associated with a lower cost of capital. However, consistent with the complementary association between disclosure and earnings quality, we find that the disclosure effect on cost of capital is substantially reduced or disappears completely (depending on the cost of capital proxy) once we condition on earnings quality. Extensions probing alternative proxies show that our findings are robust to measures of earnings quality and cost of capital, but not to other measures of voluntary disclosure. In particular, we find opposite relations for voluntary disclosure measures based on management forecasts and conference calls, and we find no relations for a press release based measure. [source] International Differences in the Cost of Equity Capital: Do Legal Institutions and Securities Regulation Matter?JOURNAL OF ACCOUNTING RESEARCH, Issue 3 2006LUZI HAIL ABSTRACT This paper examines international differences in firms' cost of equity capital across 40 countries. We analyze whether the effectiveness of a country's legal institutions and securities regulation is systematically related to cross-country differences in the cost of equity capital. We employ several models to estimate firms' implied or ex ante cost of capital. Our results support the conclusion that firms from countries with more extensive disclosure requirements, stronger securities regulation, and stricter enforcement mechanisms have a significantly lower cost of capital. We perform extensive sensitivity analyses to assess the potentially confounding influence of countries' long-run growth differences on our results. We also show that, consistent with theory, the cost of capital effects of strong legal institutions become substantially smaller and, in many cases, statistically insignificant as capital markets become globally more integrated. [source] CREATING VALUE IN THE OIL INDUSTRYJOURNAL OF APPLIED CORPORATE FINANCE, Issue 1 2004Nick Antill In contrast with current thinking that conglomerates are inefficient, this article begins by presenting arguments in favor of the size and structure of the large integrated oil companies, also known as "the supermajors." Among the advantages are tax efficiency, information flow, political and technological know-how, broad supplier and customer relationships, scale economies, cross-business economies of scope, brand power, and the ability to coordinate strategic initiatives across businesses. These advantages all translate into a lower cost of capital. One problem, however, is that this lower cost of capital does not seem to be reflected in the target returns on capital currently set by the supermajors. Observing that the financial goal of a corporation is to maximize not its return on capital but rather the net present value of expected future cash flows and earnings, the authors argue that the majors need to make two major changes to current practice. First, their investment hurdle rates should be reduced from their current level of 14,15% to the weighted average cost of capital, which is estimated to run about 8,9%. Second, the actual returns on capital reported in published accounts are largely meaningless; and when evaluating new investments and existing operations alike, the companies must find an annual performance measure that better reflects the economic realities of the business. This paper recommends use of a performance measurement framework based on economic profit that should serve two critical purposes: it will encourage managers to undertake all value-increasing projects (not just those that will maintain or increase reported return on capital), and it will help the companies communicate their strategy and results to the investment community. [source] INVESTOR RELATIONS, LIQUIDITY, AND STOCK PRICESJOURNAL OF APPLIED CORPORATE FINANCE, Issue 4 2000Michael J. Brennan Although the first investor relations department was established by General Electric as long ago as 1952, the role of investor relations (IR) is one that has largely escaped scientific analysis and academic scrutiny. This article attempts to demonstrate the importance of a company's IR activities for its stock price by establishing a clear chain of causation between the following: 1,corporate IR activities and the number of stock analysts who follow the firm; 2,the number of analysts who follow the firm and the liquidity of trading in the firm's shares; 3,the liquidity of the firm's shares and its required rate of return, or cost of capital. The authors begin by presenting evidence that corporate IR activities, in the form of high levels of disclosure and presentations to investment analysts, increase the number of analysts who follow the firm by reducing their cost of acquiring information. Studies have also shown that more effective IR tends to improve the accuracy of analyst forecasts and the degree of agreement among analysts. Second, the authors summarize their own research showing that the number of analysts who follow a firm has a positive effect on the liquidity of the firm's shares. More specifically, their findings can be interpreted as saying that, for the average company, coverage by six additional analysts reduces "market-impact costs" (using a measure known as Kyle's lambda) by 28%, holding volume constant. And when the indirect effect of increased analyst coverage through expanded volume is taken into account, the reduction in trading costs is estimated to be as high as 85%. The final link in the chain of analysis is the growing evidence (much of it reviewed in the preceding article) that increased liquidity leads to a lower cost of capital and thus higher stock prices. In sum, a firm can reduce its cost of capital and increase its stock price through more effective investor relations activities, which reduce the cost of information to the market and to investment analysts in particular. [source] Outcomes and Costs of Residential Services for Adults with Intellectual Disabilities in Taiwan: A Comparative EvaluationJOURNAL OF APPLIED RESEARCH IN INTELLECTUAL DISABILITIES, Issue 2 2008Yueh-Ching Chou Background, The disability policy in Taiwan has traditionally emphasized residential care in large institutions and, more recently, medium-sized group homes. This paper compares the relative costs, services provided and outcomes between the traditional institutions, medium-sized group homes and new small-scale community living units that were launched in 2004 in Taiwan. Materials and Methods, Cross-sectional analysis was used to investigate the three current residential service models. A total of 248 participants with intellectual disabilities were interviewed, including all residents from the existing 25 small residential units and purposively sampled respondents from the other two residential models. Results, Outcomes for the Taiwanese participants were consistent with the existing literature on deinstitutionalization from Western societies. Small homes provided better subjective and objective quality of life than both medium-sized community-based units and traditional institutions. Conclusion, Participants living in small residential homes experienced better outcomes at lower cost than persons living in medium-sized group homes or institutions. [source] How different provisioning strategies result in equal rates of food delivery: an experimental study of blue tits Parus caeruleusJOURNAL OF AVIAN BIOLOGY, Issue 4 2002Fabrizio Grieco Food provisioning in birds requires a considerable amount of time and usually has to be traded-off against other parental and non-parental activities. I investigated experimentally the rate at which blue tit Parus caeruleus parents deliver food to their brood after a change in food availability. The main argument behind this study is that parents enjoying an additional food source may use less time for self-feeding and therefore use more time for food provisioning. This could increase the rate at which food is brought to the nest. However, a prey choice model that takes the energetic needs of the parent into account allows for the possibility that the food-supplemented parents would deliver the same amount of food by increasing prey size (through an increase in prey selectivity) and reducing visit rate. The field data indicate that the parents changed provisioning strategy when food-supplemented: they fed the chicks natural food less frequently, but brought larger larvae. On the whole, delivery rate of natural food was the same or lower than in controls. The results suggest that food-supplemented parents used the time saved to increase their degree of food selectivity. When the gains from an increased delivery rate are not worth the increased costs (mainly resulting from an increased visiting rate), the parent with low energetic need may increase selectivity to provide the same amount of food to the brood as the unmanipulated parent, but at a lower cost. [source] OPTIMIZATION OF WHEAT BLENDING TO PRODUCE BREADMAKING FLOURJOURNAL OF FOOD PROCESS ENGINEERING, Issue 3 2001MEHMET HAYTA ABSTRACT Linear programming was utilized to optimize the blending of wheat lots which have different quality characteristic and costs. Using best subsets regression three quality tests (particle size index, dough volume and falling number value) were selected in relation to loaf volume of bread to be produced. The chosen criteria were set up in a linear programming format as a model for the computerized solution. The model's applicability was assessed in a commercial mill. As a result of applying the model it was found possible to produce breadmaking flour with a reasonable quality and at a lower cost. [source] COMPARATIVE STUDY OF EGG WHITE PROTEIN AND EGG ALTERNATIVES USED IN AN ANGEL FOOD CAKE SYSTEMJOURNAL OF FOOD PROCESSING AND PRESERVATION, Issue 2010MAHMOUD ABU-GHOUSH ABSTRACT Comparisons of the physical and sensory properties of several commercial egg alternatives in angel food cake formulation were studied. Fourteen samples were investigated for foaming properties at 10 and 20 min whipping time: collagen, Cryogel gelatin, Solugel collagen hydroysates, gelatin, whey protein concentrate, fish protein, whey protein isolate (95% WPI, 90%WPI), hydrolyzed whey protein isolate, pea protein, rice protein concentrate, soy protein, corn zein and casein. However, only eight samples showed potential and were moved forward for further evaluation. Only the WPI alternative was able to maintain a meringue during baking. All other foams collapsed during the baking process. The angel food cake formulated with WPI exhibited a significantly firmer crust and crumb compared with the egg white control. The L value, height and volume of control cake were also significantly higher than the egg alternative. The control significantly outperformed the angel food cake formulated with the egg alternative in all sensory categories evaluated. PRACTICAL APPLICATIONS The egg alternatives were used to replace egg as a functional ingredient in angel cake productions. These alternatives can deliver functionality at a lower cost and can be incorporated to produce a suitable angle cake, especially whey protein isolate (WPI). These results may help producers in formulating angle cake that rely on WPI as an egg alternative. [source] Detection of Pretreated Fingerprint Fluorescence Using an LED-based Excitation SystemJOURNAL OF FORENSIC SCIENCES, Issue 4 2008Masahisa Takatsu Ph.D. Abstract:, Optimization of a light emitting diode (LED)-based excitation system for the detection of pretreated fingerprint fluorescence is described. Fluorescent ridges can usually be excited by irradiation with forensic light sources such as xenon arc lamps or quartz-halogen lamps with high-power output and suitable filters. However, they are too expensive for many crime laboratories in smaller organizations. We concentrated on LEDs which have advantages over conventional light sources in that they are simpler and of lower cost, but the power output and quality of each individual LED unit is not sufficient for the detection of weak fluorescent ridges. To resolve this subject, blue and green LED arrays composed of ninety LED units were adopted and suitable low pass filters for them were designed. An experimental system, consisting of blue and green LED arrays with the suitable low pass filters for illumination, high pass filters for viewing, a digital camera and a computer, was tested. The fluorescent images of cyanoacrylate ester fumed/rhodamine 6G stained fingerprint on white polyethylene sheet and weak fluorescent ridges of ninhydrin/indium chloride treated fingerprint on white paper were successfully detected and photographed. It was shown that the improvement of LED beam in intensity and quality can compensate the disadvantages, resulting in well-contrasted images. [source] Patients' preference for radiotherapy fractionation schedule in the palliation of symptomatic unresectable lung cancer,JOURNAL OF MEDICAL IMAGING AND RADIATION ONCOLOGY, Issue 5 2008JI Tang Summary The palliative radiotherapeutic management of unresectable non-small-cell lung cancer is controversial, with various fractionation (Fx) schedules available. We aimed to determine patient's choice of Fx schedule after involvement in a decision-making process using a decision board. A decision board outlining the various advantages and disadvantages apparent in the Medical Research Council study of Fx schedules (17 Gy in two fractions vs 39 Gy in 13 fractions) was discussed with patients who met Medical Research Council eligibility criteria. Patients were then asked to indicate their preferred Fx schedules, reasons and their level of satisfaction with being involved in the decision-making process. Radiation oncologists (RO) could prescribe radiotherapy schedules irrespective of patients' preferences. Of 92 patients enrolled, 55% chose the longer schedule. English-speaking patients were significantly more likely to choose the longer schedule (P = 0.02, 95% confidence interval: 1.2,7.6). Longer Fx was chosen because of longer survival (90%) and better local control (12%). Shorter Fx was chosen for shorter overall treatment duration (80%), cost (61%) and better symptom control (20%). In all, 56% of patients choosing the shorter schedule had their treatment altered by the treating RO, whereas only 4% of patients choosing longer Fx had their treatment altered (P < 0.001). Despite this, all (100%) patients were satisfied with being involved in the decision-making process. The decision board was useful in aiding decision-making, with both Fx schedules being acceptable to patients. Interestingly, despite the longer average survival associated with longer Fx, nearly half of the patients believed that this was not as important as a shorter duration of treatment and lower cost. Despite patients' preferences, there were significant alterations of preferred schedules because of RO's own biases. [source] On the Cost of Adverse Selection in Individual Annuity Markets: Evidence From SingaporeJOURNAL OF RISK AND INSURANCE, Issue 2 2002Wai Mun Fong New evidence is presented on the cost of adverse selection in individual annuity markets using Singapore data. The Singapore annuity market is an interesting setting to examine the cost of adverse selection for three reasons. First, unlike many Western countries, the Singapore government provides very limited public financial assistance for retirees. Second, while social security contributions mandated under the Central Provident Fund (CPF) result in a high forced savings rate, a large proportion of CPF savings, are used up for housing. Third, to ensure that retirees have sufficient funds to meet basic needs, individuals who reach age 55 are required to set aside a minimum amount of their CPF savings, which can be withdrawn at age 62. The CPF Board allows various options for investing the minimum sum, but the most attractive option is to purchase an annuity. The institutional setting in Singapore in effect provides insurers with a large captive market for annuities. It is conjectured that this should be reflected in a significantly lower cost of adverse selection for annuities sold in Singapore as compared with other countries. The results herein, using data for CPF-approved insurers, are strongly consistent with this conjecture. On average, money's worth of annuities is higher than annuities sold to a similar age-gender mix in the United States, United Kingdom, and Australia. Adverse selection accounts for less than 13 percent of the cost of longevity insurance compared to 30,50 per- cent documented in many previous studies. These results suggest that one way to resolve the adverse selection problem is to adopt a universal individual defined contribution pension scheme that mandates or provides strong incentives for retirees to purchase annuities. [source] Nurse practitioners as an underutilized resource for health reform: Evidence-based demonstrations of cost-effectivenessJOURNAL OF THE AMERICAN ACADEMY OF NURSE PRACTITIONERS, Issue 4 2010Jeffrey C. Bauer PhD Healthcare reform in 2009 was motivated by an imperative to reduce the relentless increase in spending on medical care. Many efforts to solve the problem focused on applying proven principles of evidence-based practice and cost-effectiveness to find the least-expensive way to produce a specific clinical service of acceptable quality. This paper combines economic analysis and reviews published literature to show how the goals of healthcare reform can be accomplished by allowing independently licensed nurse practitioners to provide their wide range of services directly to patients in a variety of clinical settings. The paper presents extensive, consistent evidence that nurse practitioners provide care of equal or better quality at lower cost than comparable services provided by other qualified health professionals. [source] Learning Disabilities in Taiwan: A Case of Cultural Constraints on the Education of Students with DisabilitiesLEARNING DISABILITIES RESEARCH & PRACTICE, Issue 3 2007Shih-Jay Tzeng Learning disabilities (LD) has been recognized as a category of special education in Taiwanese law since 1984, and policies ensure educational services for children and youth who have LD. The official definition and identification criteria established in Taiwan's laws closely correspond with those of the United States, but practice differs, largely influenced by the people's cultural and linguistic background. I discuss these legal and cultural features as well as other matters (e.g., growth and change in professional literature on LD). Compared to economically developed countries such as the United States, the educators in Taiwan implement identification procedures, placement, and services at a lower cost. Contents of implementation are introduced in detail. The prevalence rate of LD has been very low (<1 percent). I examine culture- and/or society-specific reasons for low prevalence, such as Chinese orthography, regular teachers' compliance with referral procedures, the education-first belief of parents, and problems with identification procedures. [source] | ||||||||||||||||||||||||||||||||||||||||||||||||||||