How value relevant are earnings when they are transitory？ Empirical evidence for France

Capital market participants take seriously into consideration the value relevance of earnings for security valuation. This study examines the value relevance of earnings when earnings are transitory, i.e., there is great variability in earnings. It hypothesizes that the relationship between earnings and security returns worsens when earnings are transitory and this robustness is country specific. The dataset consists of more than 1,100 French firm-year observations over a nine year period. Empirical results show that when earnings are transitory, investors pay more attention to operating cash flows and less attention to earnings, a result indicating that investors penalize firms with unstable earnings. These results should be of great importance to financial analysts, investors and bankers for investing and credit decisions, especially after the recent global financial crisis.

OsLESV and OsESV1 promote transitory and storage starch biosynthesis to determine rice grain quality and yield

Transitory starch is an important carbon source in leaves,and its biosynthesis and metabolism are closely related to grain quality and yield.The molecular mechanisms controlling leaf transitory starch biosynthesis and degradation and their effects on rice(Oryza sativa)quality and yield remain unclear.Here,we show that OsLESV and OsESV1,the rice orthologs of AtLESV and AtESV1,are associated with transitory starch biosynthesis in rice.The total starch and amylose contents in leaves and endosperms are significantly reduced,and the final grain quality and yield are compromised in oslesv and osesv1 single and oslesv esv1 double mutants.Furthermore,we found that OsLESV and OsESV1 bind to starch,and this binding depends on a highly conserved C-terminal tryptophan-rich region that acts as a starch-binding domain.Importantly,OsLESV and OsESV1 also interact with the key enzymes of starch biosynthesis,granule-bound starch synthase I(GBSSI),GBSSII,and pyruvate orthophosphote dikiase(PPDKB),to maintain their protein stability and activity.OsLESV and OsESV1 also facilitate the targeting of GBSSI and GBSSII from plastid stroma to starch granules.Overexpression of GBSSI,GBSSII,and PPDKB can partly rescue the phenotypic defects of the oslesv and osesv1 mutants.Thus,we demonstrate that OsLESV and OsESV1 play a key role in regulating the biosynthesis of both leaf transitory starch and endosperm storage starch in rice.These findings deepen our understanding of the molecular mechanisms underlying transitory starch biosynthesis in rice leaves and reveal how the transitory starch metabolism affects rice grain quality and yield,providing useful information for the genetic improvement of rice grain quality and yield.

The dynamics of multidimensional educational poverty

Education is a cornerstone in promoting the overall welfare of individuals and plays a pivotal role in shaping their lives.As the developing world grapples with the multifaceted challenges of poverty,there is a growing emphasis on evaluating poverty from a multidimensional perspective.Therefore,this study estimates the educational poverty index(EPI).To construct the EPI,Alkire and Foster’s methodology was used with data from the Pakistan Panel Household Survey.We also estimated the dynamics of educational poverty using logistic regression.The results show that the EPI declined from 0.24 in 2001 to 0.21 in 2010.Similarly,the intensity decreased from 0.42 to 0.30.However,the incidence of educational poverty increased from 0.58 to 0.69.At the provincial level,there was a reduction in educational poverty and intensity across all provinces.However,the rate of decline in the EPI and intensity was comparatively higher in Baluchistan than in other provinces.Most of the population belonged to the transitory poor category(0.47).Other dynamic factors such as the household head’s age,education,family size,disability,and land acres also play vital roles in moving into or out of poverty.Our study reveals numerous dimensions that can increase household educational poverty.The government should be vigilant while preparing the policy and must consider the multiple dimensions of a household to eradicate educational poverty.

Effect of partial depletion of CD25+ T cells on neurological deficit and tissue damage in acute cerebral ischemia rat models

Objective: To evaluate the role of regulatory T cells (Tregs) at late stages of stroke. Methods:Anti-CD25 antibody (or PBS as a control) was injected to reduce the pool of Tregs in Wistar rats;then, ischemia was induced transiently by middle cerebral artery occlusion during 60 min and reperfusion was allowed for 7 d. Then, Treg frequency was analyzed in peripheral blood, spleen and lymph nodes. Neurological score (0-6) and infarct volume were also determined. Results: Nine days after injection, the CD4+CD25+ T cells were reduced by 70.4%, 44.8% and 57.9% in peripheral blood, spleen and lymph nodes, respectively compared to PBS-treated rats. In contrast, the reduction of CD4+FOXP3+ T cells was lower in the same compartments (38.6%, 12.5%, and 29.5%, respectively). The strongest reduction of CD25+CD4+ T cells was observed in those FOXP3-negative cells in blood, spleen and lymph nodes (77.8%, 52.8%, and 60.7%, respectively), most likely corresponding to activated T cells. Anti-CD25-treated transient middle cerebral artery occlusion rats had a lower neurological deficit and did not develop tissue damage compared with PBS-treated animals. Conclusions: These findings suggest that treatment with anti-CD25 in our model preferentially reduce the T cell population with an activated phenotype, rather than the Treg population, leading to neuroprotection by suppressing the pathogenic response of effector T cells.

An experimental proposal for low order laboratory animals’ extension of metabolic life

Essential bibliography, with therein references included, is presented owing to the contribution of the author groups to Mitochondrial Filamentation, which is a new emerging field of physiological energy metabolism. These studies provide the first seed concept for trials to extend the metabolic life, for a few days, in low order laboratory mammals killed by electrocution, as a first type of accidental death. It is proposed, essentially, to cool out the corpses very soon after death at 12oC-14oC and take advantage of the effect super magnetism to counteract the force of gravity to install a net recurrent cycle of oxygen consumption and oxygen production by filamented mitochondria in all the organism tissues. Once the cause of death had been corrected adequately, it is possible to try the reanimation to experience the full life of the corpse with highly sophisticated methodology.

Impact of Prophylactic Betamethasone Indication on the Neonatal Outcome in 38-Week Pregnancies Prior to Elective Cesarean Section

Objective: To assess whether the use of prenatal betamethasone in pregnancies with elective Caesarean section (C-section) at 38 weeks has a similar risk of adverse neonatal respiratory outcomes than elective C-section at 39 weeks. Methods: Retrospective cohort study of pregnant patients with singleton pregnancies and elective C-section at term in a one-year period. Cases were C-section at 38 weeks of gestation with a complete course of betamethasone started 48-hours before. As a control group, pregnancies with a C-section at 39 weeks without betamethasone were included. Results: During the study period, 186 patients were included. Of these, 91 were delivered at 38 weeks and 95 at 39 weeks. There were no significant differences in maternal age and parity. Moreover, there were no significant differences in respiratory complications (respiratory distress syndrome [RDS] = 0% vs 1.1%;p = 1.0, transitory tachypnea [TT] = 0% vs 0%) and admission to Neonatal Intensive Care Unit (NICU) (8.8% vs 6.3%;p = 0.7) between deliveries at 38 weeks and 39 weeks, respectively. Conclusion: Prophylactic use of betamethasone in early term pregnancies who undergo an elective C-section at 38 weeks is associated with similar adverse neonatal respiratory outcomes than patients with C-section at 39 weeks without corticosteroids.

Digital Financial Inclusion and Consumption Smoothing in China

In this paper,we investigate the effect of digital financial inclusion(DFI)on household consumption smoothing in China.We use four waves of the biennial China Family Panel Studies from 2010 to 2016,during which time DFI has significantly developed alongside financial technology across China.We split household income shocks into permanent and transitory components,and evaluate if DFI may help households to buffer against these shocks.We find that households are not able to insure against permanent shocks to income,but they can smooth approximately 70 percent of transitory shocks to income.We also find that DFI has diminished households'ability to insure against transitory income shocks.This is partly because online purchase may lead to the oversensitivity of consumption to income.In addition,we find that contrary to DFI,traditional financial sector development contributes to better household consumption smoothing against transitory income shocks.

Starch phosphorylase 2 is essential for cellular carbohydrate partitioning in maize

Carbohydrate partitioning is essential for plant growth and development,and its hindrance will result in excess accumulation of carbohydrates in source tissues.Most of the related mutants in maize(Zea mays L.)display impaired whole-plant sucrose transport,but other mechanisms affecting carbohydrate partitioning have seldom been reported.Here,we characterized chlorotic leaf3(chl3),a recessive mutation causing leaf chlorosis with starch accumulation excessively in bundle sheath chloroplasts,suggesting that chl3 is defective in carbohydrate partitioning.Positional cloning revealed that the chl3 phenotype results from a frameshift mutation in ZmPHOH,which encodes starch phosphorylase 2.Two mutants in ZmPHOH exhibited the same phenotype as chl3,and both alleles failed to complement the chl3 mutant phenotype in an allelism test.Inactivation of Zm PHOH in chl3 leaves reduced the efficiency of transitory starch conversion,resulting in increased leaf starch contents and altered carbohydrate metabolism patterns.RNA-seq revealed the transcriptional downregulation of genes related to photosynthesis and carbohydrate metabolism in chl3 leaves compared to the wild type.Our results demonstrate that transitory starch remobilization is very important for cellular carbohydrate partitioning in maize,in which Zm PHOH plays an indispensable role.

TWO-DIMENSIONAL SIMULATION OF FLOWS IN PLANE-WALL DIFFUSERS

A numerical model has been developed for computing turbulent flow in plane-wall diffuser.The model solves the weakly compressible flow equations with the application of the Smagorinsky's subgrid-scale turbulence model and the boundary conditions of partial slip and no slip at the solid wall.Application examples include two-dimensional calculations of unstalled and stalled flows in diffusers of small diverging angle,as well as transitory stall flow in a symmetric diffuser of 16°total angle.For the unstalled and stalled flows,the calculated pressure recovery and velocity profile are compared with experimental data.For the transitory stall flow,the com- putational result shows the unsteady flow features including the vortex shedding and stall washout phenomena that have been experimentally observed.

comCharacteristics of browsed aspen forests following wildfire and implications for management:a case study

Aims Recognizing ungulate browsing thresholds between viable and declining aspen(Populus tremuloides Michx.)stands are critical to ensuring long-term persistence of this biologically important plant community.Studies have shown declines in vigor and regeneration when as few as 30%of current annual twigs are browsed while other studies have shown higher limits.Although the effects of ungulate herbivory are of concern in aspen forests,few studies have assessed browsing effects following wildfire and few criteria exist for deter-mining potential effects of ungulate browsing on aspen forests fol-lowing wildfire.We evaluated the effects of ungulate abundance and foraging intensity on regenerating aspen 1 to 6 years post-fire and assessed the use of abundance and foraging intensity indicators in predicting impacts to regenerating aspen.Rocky Mountain elk(Cervus elaphus nelson)was the primary ungulate in the study area.Methods The study area was located within the 17500 ha cerro Grande Fire burn area in the Jemez Mountains,New Mexico,USA.We used percent aspen twigs browsed and pellet-group counts to evaluate relationships between these indicators and aspen patch structure(height,size).We collected data in randomly generated 3×33 m plots 5-6 years post-fire.We also established 4 fenced exclosures(25×55 m and 3.3 m in height)with paired unfenced plots 1-year post-fire to monitor aspen regeneration.Each spring,we recorded percent browsed twigs from the previous fall through the early spring period which coincided with the highest ungulate use period within the study area.We assessed associations between percent twigs browsed and pellet-group density and patch size and height of aspen using Spearman’s correlation coefficients.Important Findings Mean percent twigs browsed and ungulate pellet-group density across the burn area was≤31%and 1 pellet-group 100 sq m−1,respectively.Patch size and height decreased with increasing browsing and pellet-group density 5-6 years post-fire.However,mean aspen heights were approaching or exceeding a minimum browsing level of 2 m and,therefore,ungulate browsing did not appear sufficient to cause signif-icant impacts to aspen across the burn area.We observed a positive correlation between pellet-group density and twig browsing suggest-ing that one or both measures could be used to assess potential effects of browsing on regenerating aspen following fire.