Edible mushrooms as a potent therapeutics of subclinical thyroid dysfunction among adults,especially in obese individuals:a prospective cohort study

Background:Mushrooms are a good source of many nutrients which are potentially beneficial for chronic diseases.We speculated that due to its abundant nutrients edible mushrooms might have a beneficial effect on the prevention of subclinical thyroid dysfunction(SCTD).Therefore,we designed a large-scale cohort study to examine whether mushrooms consumption is a protective factor for SCTD in adults.Methods:This prospective cohort study investigated 6631 participants(mean age:(45.0±10.2)years;55.1%men).Edible mushrooms consumption was measured at baseline using a validated food frequency questionnaire.SCTD was defined as abnormal serum thyroid-stimulating hormone levels and normal free thyroxine.Cox proportional hazards regression models were used to examine the association of edible mushrooms consumption with incident SCTD.Results:During follow-up period,a total of 262 new cases of SCTD were identified,the incidence rate of subclinical hypothyroidism was 8.9/1000 person-years and subclinical hyperthyroidism was 7.2/1000 person-years.After adjusting potential confounding factors,the multivariable hazard ratios(95%confidence intervals)for subclinical hypothyroidism were 1.00(reference)for almost never,0.53(0.29,0.97)for 1-3 times/week and 0.30(0.10,0.87)for≥4 times/week(P for trend=0.02).It also showed edible mushrooms consumption was inversely associated with subclinical hypothyroidism in obese individuals but not non-obese individuals,the final hazard ratios(95%confidence intervals)were 0.14(0.03,0.73)(P for trend<0.01).Conclusions:This population-based prospective cohort study has firstly demonstrated that higher edible mushrooms consumption was significantly associated with lower incidence of subclinical hypothyroidism among general adult population,especially in obese individuals.

Correlation uncertainty, limited participation, and flight to quality

This study extends the multi-asset model of Huang et al.(2017),who examine only two types of investors,by adding a new investor type with partial information on the correlation coefficient and re-explores the limited participation phenomenon under correlation ambiguity.We investigate whether asset allocations depend on incomplete information under market equilibrium—specifically,whether investors with less information might hold greater equilibrium positions than investors with more information.We find that,as the true correlation coefficient(and the maximum correlation coefficient for ambiguity-averse investors)increases and asset quality increases,investors with less information escape from low-to high-quality assets,thus exhibiting a flight-to-quality trading pattern in equilibrium.

PRICING FOR CORPORATE PROPERTY RIGHTS TRANSFER WITH STOCHASTIC MARKETS

This paper employs the real option theory to develop a pricing model for the transfer of property rights.We list the conditions for the good,intermediate and bad firms respectively,and work out the closed-form solution to the equilibrium transfer price,the optimal transfer timing.Using the comparative static analysis,we find that for good firms the transfer price of the target is increasing in its capital.The higher the capital of the target owns,the faster it will be transferred.For intermediate and bad firms,similar conclusions can be derived.The larger gap between the acquirer's size and market power and those of the target,the lower the transfer triggered price.The transfer price goes up as the capital ratio of the acquirer over the target diminishes,while it is decreasing in the amount of the capital the target owns.

Correlation ambiguity,listing choice,and market microstructure

This paper investigates the implication of correlation ambiguity to investor behavior,asset pricing and issuers'listing choices from a market microstructure perspective.We introduce two markets to a multi-asset model:Market A is transparent and Market B is opaque,or Market A with low and Market B with high ambiguity perceived by investors.Each firm can choose only a unique market to list its stock.Due to ambiguity aversion,a naïve investor's demand function demonstrates piecewise linear.Such trading behavior may lead to different equilibria and hence different market-clearing prices for each listing outcome.Rational entrepreneurs make optimal listing decisions depending on asset prices in alternative markets.We further demonstrate that a crafted design of specific features of the microstructure,such as listing standards and disclosure requirements,can effectively reduce the perceived ambiguity and induce more naïve investors'participation to improve market liquidity,maintain greater volume,and lower the cost of capital,so as to attract more new listings.