付記する学位プログラム名: 充実した健康長寿社会を築く総合医療開発リーダー育成プログラム / 京都大学 / 0048 / 新制・課程博士 / 博士(医科学) / 甲第22747号 / 医科博第116号 / 新制||医科||8(附属図書館) / 京都大学大学院医学研究科医科学専攻 / (主査)教授 長船 健二, 教授 武藤 学, 教授 小川 誠司 / 学位規則第4条第1項該当 / Doctor of Medical Science / Kyoto University / DFAM

The thesis deals with measurements of the atherosclerothic carotid plaques mechanical properties with wiew towards the improvements of their constitutive models and then towards the impact of application of those constitutive models in fibrous cap. The introductory part provides a brief summary of medical knowledge needed to understand atheroma formation and the risks involved. Next, there's a survey of plaque mechanical testing methods and the obtained results on tissue properties. The previously used constitutive models of atherosclerothic tissues are listed as well. Main body of the thesis describes the preparation of testing samples from obtained atheroma, methodology and course of experiments execution and subsequent processing of the experimental data to evaluate the behavior of the atheromatous tissue individual parts. Then the discussion and evaluation of our results and findings is given. Along with the evaluated mechanical properties, experimental data fitted to models are presented with respect to their predictive abilities. The final part is dedvoted to the finite element analysis of an idealized 2D model with emphasis on the effect of necrotic core and fibrous tissue properties on von Mises equivalent stress in the fibrous cap.

Insynshandel kan beskrivas som en signaleringsmekanism till alla investerare på marknaden. Marknaden agerar på signaleringen genom att behålla, köpa eller sälja aktien där insynshandel nyligen skett. Investerarnas agerande kan leda till att prissättningen förändras vid publicering av insynshandel. Tidigare forskning visar på att insynspersoner är bättre informerade än marknaden och på så vis kan uppnå abnormal avkastning. Investerare kan på så vis även generera överavkastning genom att följa insynshandel i bolag. För att insynshandel ska ha ett signaleringsvärde till marknaden krävs att det finns en informationsasymmetri mellan insynsperson och marknaden. Ominformationsasymmetrin är hög bör insynshandel ge information som underlättar vid investeringsbeslut samt minska obalansen av tillgång på information. Denna studie undersöker insynshandel på Small Cap och om huruvida det finns ett positivt samband mellan storlek på insynstransaktioner och marknadens prissättning vid publicering av insynshandel. Vidare undersöks om transaktionstyp har betydelse för prissättningen. För att kunna identifiera marknadens prissättning har ett eventfönster på sju dagar skapats och utgår från dagen då en insynstransaktion blir publik. För att analysera studiens data har statistiska tester genomförts. Studiens resultat visar att det inte kan statistiskt säkerställas ett positivt samband mellan transaktionsstorlek och prisförändring, sett till hela eventfönstret på sju dagar. Vid vidare analys upptäcktes en diskrepans under dagen då insynstransaktioner publiceras. Vid publicering finns det ett signifikant samband mellan storlek på insynstransaktioner och prissättning. Även transaktionstyp har betydelse för prissättningen. Köptransaktioner genererar en högre avkastning än säljtransaktioner. Resultatet bidrar med att exemplifiera hur marknaden prissätter ny information i form av insynshandel omedelbart.

The United States was throughout the history engaged in several conflicts which had a character of counterinsurgency. These are - among others- War in Vietnam and second War in Iraq. These two conflicts are examined in this diploma thesis. Author poses a question how did counterinsurgency tactics evolved in both conflicts. The second question is whether the United States implemented counterinsurgency experiences from Vietnam War in Iraq War and if so, how they were implemented. The United States developed several counterinsurgency programs and the most of them were successful - they prevented Vietcong from spreading its influence in South Vietnam. However these programs were often poorly financed, or they did not gain enough support from The US Army, because the Army prefered conventional approach in fighting against communists. The United States fought a conventional warfare in the first few years of Iraq War and it had not succeeded in garnering popularity among civilians. The change came with a new commander- general David Petraeus. Petraeus was inspired by the experiences from the Vietnam War (and other conflicts) and he concentrated his effort on providing safety to Iraqi population. This strategy paid off and the Army had much less losses during his command then during the pre - 2007 period....

<p>According to the World Health Organization, disabling hearing loss affects nearly 466 million people worldwide. Sensorineural hearing loss (SNHL), which is characterized as damage to the inner ear (e.g., cochlear hair cells) and/or to the neural pathways connecting the inner ear and brain, accounts for 90\% of all disabling hearing loss. One important clinical measure of SNHL is an auditory evoked potential called the auditory brainstem response (ABR). The ABR is a non-invasive measure of synchronous neural activity across the peripheral auditory pathway (auditory nerve to the midbrain), comprised of a series of multiple waves occurring within the first 10 milliseconds after stimulus onset. In humans, oftentimes ABRs are recorded using a high-density EEG electrode cap (e.g., with 32 channels). In our lab, a long-term goal is to establish and characterize reliable and efficient non-invasive measures of hearing loss in our pre-clinical chinchilla models of SNHL that can be directly related to human clinical measures. Thus, bridging the gap between chinchilla and human data collection by using analogous measures is imperative. \par</p><p><br></p><p>For this project, a 32-channel EEG electrode mini-cap for recording ABRs in chinchillas was studied. Firstly, the feasibility of this new method to record ABRs demonstrated. Secondly, the sources of bias and variability relevant to the mini cap were investigated. In this investigation, the ability of the mini cap to produce highly reliable, repeatable, reproducible, and valid ABRs was verified. Finally, the benefits of this new method, in comparison to our current approach using three subdermal electrodes, were characterized. It was found that ABR responses were comparable across channels both in magnitude and morphology when referenced to a tiptrode in the ipsilateral ear canal. Consequently, averaging across several channels led to a reduction in overall noise and the need for fewer repetitions (in comparison to the subdermal method) to obtain reliable response. Other methodological benefits of the mini cap included closer alignment with human ABR data collection, more efficient data collection, and capability for more in-depth data analyses, like source localization (e.g., in cortical responses). Future work will include collecting ABRs using the EEG mini-cap before and after noise exposure, as well as exploring the potential to leverage different channels to isolate brainstem and midbrain contributions to evoked responses from simultaneous recordings. </p>

Sammanfattning   Syfte: Syftet med denna studie är att undersöka huruvida det är möjligt att uppnå riskjusterad överavkastning, genom att tillämpa aktierekommendationer som investeringsstrategi. Studien ämnar även att undersöka vilken grad av marknadseffektivitet som råder på Stockholmsbörsens Large Cap-lista.   Metod: Vi har inhämtat samtliga utfärdade rekommendationer för Stockholmsbörsens Large Cap-lista genom att använda databasen Refinitiv Eikon, rekommendationerna är inhämtade på månatlig basis och illustreras av den aggregerade, procentuella andelen för respektive typ av rekommendation. Den valda tidsperioden är 2015-01 till 2019-12. Tre portföljer har bildats som representerar köp, behåll och sälj. För att bedöma vilka aktier som platsar i de respektive portföljerna, så använder vi oss av en rekommendationsgrad (60%), detta för att en rekommendation ska kunna betraktas som entydig. Den totala avkastningen för respektive portfölj mäts därefter i relation till rådande riskfri ränta, vilket möjliggör att undersöka eventuell förekomst av riskjusterad överavkastning. Det statistiska programmet Stata har därefter använts för att bedöma huruvida avkastningen för respektive portfölj, såväl som ytterligare variabler som är inkluderade i värderingsmodellerna, är av statistisk signifikans. Värderingsmodellerna som tillämpas är Fama French Trefaktormodell och Capital Asset Pricing Model (CAPM).   Resultat: Studien kommer fram till att det är möjligt att uppnå riskjusterad överavkastning, detta genom att tillämpa säljportföljen. Signifikanta resultat (95%) uppvisades både vid tillämpning av Fama French Trefaktormodell och CAPM som värderingsmodell. Övriga portföljer uppvisade ej signifikanta resultat.   Slutsats: Slutsatsen från studien är att är möjligt att generera riskjusterad överavkastning genom att använda sig av aktierekommendationer som investeringsstrategi. Detta resultat är dock endast möjligt att uppnå genom att använda säljportföljen. Signifikant riskjusterad överavkastning kunde ej påvisas för köp- och behållportföljen, vilket indikerar att det inte finns något mervärde för en investerare att tillämpa dessa porföljer givet denna strategi. Resultatet från studien indikerar även att det råder en marknadseffektivitet av den medelstarka graden på den svenska aktiemarknaden. Dock gäller detta antagande ej för säljportföljen vars resultat strider mot den medelstarka graden av marknadseffektivitet.   Nyckelord: Aktierekommendationer, överavkastning, investeringsstrategi, portföljstrategi, effektiva marknadshypotesen, marknadseffektivitet, Fama French, CAPM, Large Cap

While it may seem that "The Cap and Bells" finds its primary source in Yeats's love for Maud Gonne, the poem is also symbolic of his search for truth in occultism. In the 1880s and 90s Yeats coupled his reading of Shelley with a formal study of magic in the Golden Dawn, and the poem is a blend of Shelleyan and occult influences. The essay explores the Shelleyan/occult motif of death and rebirth through examining the poem's relation to the rituals, teachings, and symbols of the Golden Dawn. The essay examines the poem's relation to the Cabalistic Tree of Life, the Hanged Man of the Tarot, two Golden Dawn diagrams on the Garden of Eden, and the concept of Kundalini.

<div>This dissertation consists of three chapters about the European Union Emissions Trading Scheme (EU ETS). All chapters contributes to the scarce but recently great developing literature on installation and firm-level studies in the EU ETS. The first chapter evaluates the policy effectiveness and efficiency by theoretical modelling and</div><div>empirical assessment of firms’ emission abatement activities. The second chapter overviews the global emission trading market, documents the institutional background</div><div>of emission trading, and analyzes firms’ emission trading patterns in light of the broader empirical literature. The last chapter studies productivity and firms’ emission</div><div>permit trading behaviors by considering a complete set of options. In the first chapter, I investigate how firms reduce emissions under continuous adjustment of the policy by using the implementation of the three phases of EU ETS</div><div>as a cost shock. I develop a model of emission abatement with heterogeneous firms by introducing two channels: Reallocation and Investment which incur variable and</div><div>fixed abatement costs respectively. More productive firms are cleaner as they put more effort on Investment. However, the policy effect is ambiguous driven by the magnitude</div><div>and correlation of the proposed abatement technology parameters, which highlights the importance of the current abatement technology for firms’ responses to climate</div><div>policy. I then empirically test the model by using a novel dataset that matches firms’ financial, production and emission data. In addition to providing the elasticity of</div><div>emission intensity, the elasticity of Reallocation and Investment, the model enabled me to estimate the firm’s abatement technology parameters and decompose the emissions into the proposed two channels. The results indicate that firms have a higher efficiency on abatement in utilizing of inputs than green technology investment. The emission change is primarily driven by the channel of Reallocation and is concentrated in non-metallic</div><div>mineral companies. The green innovation is limited under the policy with a small emission intensity decrease even though there is large emission reductions. The second chapter reviews the global rise of emission trading, documents the institutional background of emission trading, and summarizes firms’ emission trading patterns. To the best of my knowledge, this study is one of the first to empirically analyze the trading behaviors of all ETS firms covering all three phases in the EU ETS. I use two micro-level datasets to investigate the permit trading behaviors of all types of trading in the market, including international offset permits. Some explanations of the identified trading patterns are provided in this paper. Additionally, this study also discusses the patterns in light of the broader empirical literature. The last chapter contributes to the literature on the firms’ permit trading behaviors. The development of the EU ETS has complicated firms’ decisions around carbon trading and offered firms more options to offset emissions. We provide a first look at the determinants behind firms’ participation in the EU ETS as well as their trading behaviors by considering a complete portfolio of permit trade markets</div><div>in the EU ETS. Based on a comprehensive permit transaction dataset linked with individual level firm’s characteristics, we quantitatively analyze firms’ participation</div><div>decisions and trading patterns. We focus on the impact of firms’ productivity, endowment position, and endowment value on market choice and trading amount. Our</div><div>results suggest that productive firms are more likely to participate in permits trading and to purchase the permits in the secondary and international markets. Conditional</div><div>on firms’ market choice, the permit trading amount is also correlated with a firm’s productivity and endowment value. In addition, firms in power and energy sector are</div><div>more likely to participate in permit trading than other manufacturing firms. Overall, the empirical results indicate that less productive firms have disadvantages competing</div><div>in the permit trade market.</div>

This article examines predictors of the future market value of microcap pharmaceutical companies. This is problematic since the large majority of these firms seldom report positive net income. Their value comes from the potential of a liquidity event such as occurs when a key drug is approved by the FDA. The typical scenario is one in which the company is either acquired by a larger pharmaceutical firm or enters into a joint venture with another pharmaceutical firm. Binary logistic regression is used to determine the impact of the firm's drug treatment pipeline and its investment in research and development on the firm's market cap. Using annual financial data from 2007 through 2010, this study finds that the status of the firm's drug treatment pipeline and its research and development expenses are significant predictors of the firm's future stock value relative to other microcap pharmaceutical firms.

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