Search Results (118)

Primary open-angle glaucoma (POAG) is the most common form of glaucoma. This condition leads to optic nerve degeneration and eventually to blindness. Tobacco smoking, alcohol consumption, fast-food diets, obesity, heavy weight lifting, high-intensity physical exercises, and many other bad habits are lifestyle-related risk factors for POAG. By contrast, moderate-intensity aerobic exercise and the Mediterranean diet can alleviate POAG. In this work, we for the first time estimated the phylostratigraphic age indices (PAIs) of all 153 POAG-related human genes in the NCBI Gene Database. This allowed us to separate them into two groups: POAG-related genes that appeared before and after the phylum Chordata, that is, ophthalmologically speaking, before and after the camera-type eye evolved. Next, in the POAG-related genes’ promoters, we in silico predicted all 3835 candidate SNP markers that significantly change the TATA-binding protein (TBP) affinity for these promoters and, through this molecular mechanism, the expression levels of these genes. Finally, we verified our results against five independent web services—PANTHER, DAVID, STRING, MetaScape, and GeneMANIA—as well as the ClinVar database. It was concluded that POAG is likely to be a symptom of the human self-domestication syndrome, a downside of being civilized. Full article

In this study, we examine the critical question of whether global equity and bond assets (both green and non-green) offer effective hedging and safe haven properties against stock market risks in South Asia, with a focus on Bangladesh, India, Pakistan, and Sri Lanka. The increasing integration of global financial markets and the volatility experienced during recent economic crises raise important questions regarding the resilience of South Asian markets and the potential protective role of global assets. Drawing on methods like VaR and CVaR tail risk estimators, the DCC-GJR-GARCH time-varying connectedness approach, and cost-effectiveness tools for hedging, we analyze data spanning from 2014 to 2022 to assess these relationships comprehensively. Our findings demonstrate that stock markets in Bangladesh experience lower levels of downside risk in each quantile; however, safe haven properties from the global financial markets are effective for Bangladeshi, Indian, and Pakistani stock markets during the crisis period. Meanwhile, the Sri Lankan stock market neither receives hedging usefulness nor safe haven benefits from the same marketplaces. Additionally, global green assets, specifically green bond assets, are more reliable sources to ensure the safest investment for South Asian investors. Finally, the portfolio implications suggest that while traditional global equity assets offer ideal portfolio weights for South Asian investors, global equity and bond assets (both green and non-green) are the cheapest hedgers for equity investors, particularly in the Bangladeshi, Pakistani, and Sri Lankan stock markets. Moreover, these results hold significant implications for investors seeking to optimize portfolios and manage risk, as well as for policymakers aiming to strengthen regional market resilience. By clarifying the protective capacities of global assets, particularly green ones, our study contributes to a nuanced understanding of portfolio diversification and financial stability strategies within emerging markets in South Asia. Full article

Background: The treatment of patients affected by recurrent anterior shoulder instability has received more attention in the last ten years, focusing on the management of bone loss, which is crucial in predicting postoperative recurrence risk. Recently, various bone grafting techniques and different fixation methods have been developed to preserve native anatomy and reduce complications. Nowadays, glenoid bone reconstruction is usually carried out via the Latarjet procedure or free bone block technique. While the Latarjet procedure has traditionally been considered the best option, the bone block has been demonstrated to be a successful procedure. Even though the indication to perform a free bone block or a Latarjet procedure may be given preoperatively, in cases where the choice between the two procedures is unclear, the decision can be made intraoperatively, given the possibility to switch from one to another. This technical note aims to outline our techniques for the arthroscopic Latarjet procedure and the arthroscopic free bone block, as well as discuss the indications, benefits and downsides of each procedure. Technical tips and tricks are provided. Methods: A step-by-step thorough description of bone block and Latarjet procedures is provided, as well as a comparison of advantages and disadvantages of each technique and tips to avoid complications. Respective indications are discussed. Results: Both the procedures have benefits and downsides. The arthroscopic Latarjet procedure is the most effective in addressing anterior shoulder instability, but is more elaborate, has a shallow learning curve and can have a high complication rate. The bone block technique is an anatomic procedure with a shorter learning curve but has fewer indications. Conclusion: The Latarjet is currently considered the gold standard for glenoid bone grafting. The bone block technique can allegedly be seen as being “in the middle” of the soft tissue repair and Latarjet procedures. Many factors should be considered when choosing the right surgical technique, and treatment plans must be customized for each patient. More studies with long-term follow-up are needed to evaluate the efficacy of arthroscopic bone grafting procedures in various subtypes of patients based on bipolar bone loss assessment and individual risk factors. Full article

Fifth Generation (5G) cellular networks have been adopted worldwide since the rollout began around 2019. It brought with it many innovations and new services, such as Enhanced Mobile Broadband (eMBB), Ultra Reliable and Low-Latency Communications (URLLC), and Massive Internet of Things (mIoT). Furthermore, 5G introduced a more scalable approach to network operations using fully software-based Virtualized Network Functions (VNF) in Core Networks (CN) rather than the prior hardware-based approach. However, while this shift towards a fully software-based system design provides numerous significant benefits, such as increased interoperability, scalability, and cost-effectiveness, it also brings with it an increased cybersecurity risk. Security is crucial to maintaining trust between vendors, operators, and consumers. Cyberattacks are rapidly increasing in number and sophistication, and we are seeing a shift towards zero-trust approaches. This means that even communications between VNFs inside a 5G core must be scrutinized and hardened against attacks, especially with the advent of quantum computers. The National Institute of Standards and Technology (NIST), over the past 10 years, has led efforts to standardize post-quantum cryptography (PQC) to protect against quantum attacks. This paper covers a custom implementation of the open-source free5GC CN, to expand its HTTPS capabilities for VNFs by introducing PQC Key Encapsulation Methods (KEM) for Transport Layer Security (TLS) v1.3. This paper provides the details of this integration with a focus on the latency of different PQC KEMs in initial handshakes between VNFs, on packet size, and the implications in a 5G environment. This work also conducts a security comparison between the PQC-equipped free5GC and other open-source 5G CNs. The presented results indicate a negligible increase in UE connection setup duration and a small increase in connection setup data requirements, strongly indicating that PQC KEM’s benefits far outweigh any downsides when integrated into 5G and 6G core services. To the best of our knowledge, this is the first work incorporating PQC into an open-source 5G core. Furthermore, the results from this effort demonstrate that employing PQC ciphers for securing VNF communications results in only a negligible impact on latency and bandwidth usage, thus demonstrating significant benefits to 5G cybersecurity. Full article

FinTech stocks are an important new asset class that reflects the rapidly growing FinTech sector. This paper studies the practical implications of using gold, silver, and basket-of-precious-metals (gold, silver, platinum, palladium) ETFs to diversify risk in FinTech stocks. Downside risk reduction is estimated using relative risk ratios based on CVaR. The analysis shows that gold provides the most downside risk protection. For a 5% CVaR, a 30% portfolio weight for gold reduces the downside risk by about 25%. The minimum variance and minimum correlation three-asset (FinTech, gold, and silver) portfolios (with portfolio weights estimated using a TVP-VAR model) have the highest risk-adjusted returns (Sharpe ratio, Omega ratio) followed by the fixed-weight FinTech and gold portfolio. These results show the benefits of diversifying an investment in FinTech stocks with precious metals. These results are robust to weekly or monthly portfolio rebalancing and reasonable transaction costs. Full article

The cryptocurrency market offers attractive but risky investment opportunities, characterized by rapid growth, extreme volatility, and uncertainty. Traditional risk management models, which rely on probabilistic assumptions and historical data, often fail to capture the market’s unique dynamics and unpredictability. In response to these challenges, this paper introduces a novel portfolio optimization model tailored for the cryptocurrency market, leveraging a credibilistic CVaR framework. CVaR was chosen as the primary risk measure because it is a downside risk measure that focuses on extreme losses, making it particularly effective in managing the heightened risk of significant downturns in volatile markets like cryptocurrencies. The model employs credibility theory and trapezoidal fuzzy variables to more accurately capture the high levels of uncertainty and volatility that characterize digital assets. Unlike traditional probabilistic approaches, this model provides a more adaptive and precise risk management strategy. The proposed approach also incorporates practical constraints, including cardinality and floor and ceiling constraints, ensuring that the portfolio remains diversified, balanced, and aligned with real-world considerations such as transaction costs and regulatory requirements. Empirical analysis demonstrates the model’s effectiveness in constructing well-diversified portfolios that balance risk and return, offering significant advantages for investors in the rapidly evolving cryptocurrency market. This research contributes to the field of investment management by advancing the application of sophisticated portfolio optimization techniques to digital assets, providing a robust framework for managing risk in an increasingly complex financial landscape. Full article

We analyze the predictability of daily data on the CBOE $VIX$ and $SKEW$ indices, used to capture the average level of risk-neutral risk and downside risk, respectively, as implied by S&P 500 index options. In particular, we use forecast models from the Heterogeneous Autoregressive ($HAR$) class to test whether and how lagged values of the $VIX$ and of the $SKEW$ may increase the forecasting power of $HAR$ for the $SKEW$ and the $VIX$. We find that a simple $HAR$ is very hard to beat in out-of-sample experiments aimed at forecasting the $VIX$. In the case of the $SKEW$, the benchmarks (the random walk and an $AR\left(1\right)$) are clearly outperformed by $HAR$ models at all the forecast horizons considered and there is evidence that special definitions of the $SKEW$ index based on put options data only yield superior forecasts at all horizons. Full article

This paper aims to assess the return and downside risk of a decumulation portfolio established at the retirement age of a senior, with a determined lifetime horizon differentiated by the sex of the citizen. To measure the portfolio’s return and downside risk, two ratios conditioned by seniors’ risk attitude towards portfolio failure are employed: the downside Sortino ratio and the downside risk–return ratio. Unlike other research in the field, this manuscript provides three portfolio compositions catering to different senior investment profiles: aggressive, moderate, and conservative. Additionally, it offers a decumulation horizon conditioned by the sex-specific life expectancy of the individual, instead of offering different scenarios for conducting a sensitivity analysis. Lastly, this study was conducted across three socioeconomically distinct countries: the US, Spain, and Japan. The results clearly demonstrate that both sex and nationality significantly influence the selection of the optimal decumulation portfolio composition aimed at exhausting funds by the senior’s demise. Full article

Countries are confronting climate change using climate-related regulations that require firms and investors to disclose their green strategies and activities. Using the Meta-Analysis Structural Equation Modeling (MASEM) technique, this study evaluates the relationship between climate-related regulations and financial markets. The meta-regression analysis is conducted based on the outcomes of 52 empirical studies screened from 143 relevant articles. The results show the predictive power of the climate-related disclosure (CRD) laws and environmental regulations (ERs) on financial performance across all studies. ERs create mixed impacts on the equity market and support the debt market. Firm value is affected by ERs either negatively or positively. Methodologies and risk-related factors (market, industry, and firm risks) are important in explaining the relationships between ER/CRD and financial performance. The more developed the market, the less the impact of ERs and CRD on the equity market. Considering industry risk is recommended because different industries are exposed to changes in policies differently. The ER/CRD–firm value relationship is affected by all market, industry, and firm risks. The downside effect of mandatory CRD on the equity market suggests that policy makers, firms, and investors should be cautious in passing a new CRD regulation for transformation towards a sustainable economy. Full article

In this study, we apply a novel approach of portfolio diversification—the robust maximum diversified (RMD)—to a small and developing economy’s stock market. Using monthly returns data from August 2019 to May 2024 of 18/19 stocks listed on Fiji’s South Pacific Stock Exchange (SPX), we construct the RMD portfolio and simulate with additional constraints. To implement the RMD portfolio, we replace the covariance matrix with a matrix comprising unexplained variations. The RMD procedure diversifies weights, and not risks, hence we need to run a pairwise regression between two assets (stocks) and extract the R-square to create a P-matrix. We compute each asset’s beta using the market-weighted price index, and the CAPM to calculate market-adjusted returns. Next, together with other benchmark portfolios (1/N, minimum variance, market portfolio, semi-variance, maximum skewness, and the most diversified portfolio), we examine the expected returns against the risk-free (RF) rate. From the simulations, in terms of expected return, we note that eight portfolios perform up to the RF rate. Specifically, for returns between 4 and 5%, we find that max. RMD with positive Sharpe and Sortino (as constraints) and the most diversified portfolio offer comparable returns, although the latter has slightly lower standard deviation and downside volatility and contains 94% of all the stocks. Portfolios with returns between 5% and the RF rate are the minimum-variance, the semi-variance, and the max. RMD with positive Sharpe; the latter coincides with the RF rate and contains the most (94%) stocks compared to the other two. An investor with a diversification objective, some risk tolerance and return preference up to the RF rate can consider the max. RMD with positive Sharpe. However, depending on the level of risk-averseness, the minimum-variance or the semi-variance portfolio can be considered, with the latter having lower downside volatility. Two portfolios offer returns above the RF rate—the market portfolio (max. Sharpe) and the maximum Sortino. Although the latter has the highest return, this portfolio is the least diversified and has the largest standard deviation and downside volatility. To achieve diversification and returns above the RF rate, the market portfolio should be considered. Full article

The rise in energy-efficient building strategies, driven by the intensifying energy crisis, has encouraged the development of the passive house (PH) approach. However, existing research highlights a potential downside, the perception of the overheating risk in hot periods, particularly when design and construction methods fail to incorporate adequate mitigation strategies. This study examines the pressing necessity of addressing overheating risks in PHs through a systematic review. The aim is to identify key factors reported as contributing to overheating, to evaluate recommended solutions across diverse global regions, and to identify methods to reduce the risk. This review indicates that PHs are considered at risk of overheating in the hot periods of the year across many climatic regions, exacerbated by the impacts of climate change. Architectural features, climate conditions, inhabitants’ behaviors, and perceptions of the quality of indoor spaces are important factors affecting PH overheating and should be considered at the design stage. It is concluded that the urban context, building envelope characteristics, and their impacts require greater attention. Based on the knowledge gaps identified, green walls are proposed as a nature-based solution with good potential for mitigating overheating in PHs. More integrated consideration of all factors and solutions can minimize current and future risks. Full article

In 2017, Loscalzo and Giannini introduced the new potential clinical condition of studyholism (or obsession toward study) and a comprehensive model including its possible antecedents and outcomes. Then, emphasizing the value of avoiding an aprioristic (addiction) framework in analyzing problematic overstudying, they suggested conducting research on this new construct to unveil its internalizing and/or externalizing nature while also avoiding the over-pathologizing of a common behavior such as studying. Seven years after the first publication about studyholism, growing evidence concerning its antecedents suggested that studyholism might be defined as an OCD-related disorder (or, more generally, as an internalizing disorder). Moreover, the research about its outcomes highlighted that it is a problem behavior deserving attention as it is associated with academic, psychological, physical, and social downsides. Therefore, this paper aims to review the scientific literature published concerning studyholism to illuminate if it might be conceptualized as an OCD-related disorder based on its symptomatology, antecedents, and impact on individuals’ academic, physical, and psychological functioning. Given that it is a new construct, it is of critical value to systematize the findings gathered until now as it can help scholars interested in students’ well-being to have a clear understanding concerning the importance of screening studyholism since childhood, as this will help favor academic success and well-being and reduce the risk for school dropout. Finally, this paper presents an agenda for future research on studyholism, and it highlights the importance of further analyzing problematic overstudying using different theoretical perspectives (such as the behavioral addiction conceptualization) to unveil its real nature. Full article

Waterlogging increasingly challenges crop production, affecting 10% of global arable land, necessitating the development of pragmatic strategies for mitigating the downside risk of yield penalty. Here, we conducted experiments under controlled (tank) and field conditions to evaluate the efficacy of nitrogenous fertiliser in alleviating waterlogging stress. Without intervention, we found that waterlogging reduced grain yields, spike numbers and shoot biomass, but had a de minimus impact on grain number per spike and increased grain weight. Soil fertiliser mitigated waterlogging damage, enhancing yields via increased spike numbers, with crop recovery post-waterlogging catalysed via improved tiller numbers, plant height and canopy greenness. Foliar nitrogen spray has little impact on crop recovery, possibly due to stomatal closure, while modest urea application during and after waterlogging yielded similar results to greater N application at the end of waterlogging. Waterlogging-tolerant genotypes (P-17 and P-52) showed superior growth and recovery during and after waterlogging compared to the waterlogging-sensitive genotypes (Planet and P-79). A comparison of fertiliser timing revealed that field fertilizer treatment two (F2: 90 kg·ha⁻¹ at 28 DWL, 45 kg·ha⁻¹ at sowing and 45 kg·ha⁻¹ at 30 DR) yielded the highest and fertilizer treatment three (F3: 45 kg·ha⁻¹ at sowing and 45 kg·ha⁻¹ at 30 DR) recovered the lowest yield and spike number, while fertilizer treatment one (F1: 45 kg·ha⁻¹ at 28 DWL, 45 kg·ha⁻¹ at 0 DR, 45 kg·ha⁻¹ at sowing and 45 kg·ha⁻¹ at 30 DR) and four (F4: 90 kg·ha⁻¹ at 0 DR, 45 kg·ha⁻¹ at sowing and 45 kg·ha⁻¹ at 30 DR) had the highest shoot biomass in the field. Treatment five (T5: 180 kg·ha⁻¹ at 0 DR, 30 kg·ha⁻¹ at sowing and 90 kg·ha⁻¹ at 30 DR) presented the most favourable results in the tank. Our results provide rigorous evidence that long periods of waterlogging caused significant yield penalty, mainly due to decreased spike numbers. We contend that increasing fertiliser rates during waterlogging up to 90 kg·ha⁻¹ can provoke crop growth and mitigate waterlogging-induced grain yield losses, and is more beneficial than applying nitrogen post-waterlogging. Full article

Pre-disaster protection strategies are essential for enhancing the resilience of electric power systems against natural disasters. Considering the budgets for protection strategies, the dependency of other infrastructure systems on electricity, and the uncertainty of disaster scenarios, this paper develops risk-neutral and risk management models of strategies for pre-disaster protection. The risk-neutral model is a stochastic model designed to maximize the expected value of resilience (EVR) of the integrated system. The risk management model is a multi-objective model prioritizing the minimization of risk metrics as a secondary goal alongside maximizing the EVR. A case study conducted on the energy infrastructure systems in the Greater Toronto Area (GTA) validates the effectiveness of the models. The findings reveal the following: (i) increasing the budget enhances the EVR of the integrated system; however, beyond a certain budget threshold, the incremental benefits to the EVR significantly diminish; (ii) reducing the value of the downside risk often results in an increase in the EVR, with the variation in Pareto-optimal solutions between the two objectives being non-linear; and (iii) whether for the risk-neutral or risk management protection strategies, there are reasonable budgets when considering disaster intensity and the cost of protection measures. The models can help decision-makers to select effective protection measures for natural disasters. Full article

China is the largest soybean importer and consumer in the world. Soybean oil is the most-consumed vegetable oil in China, while soybean meal is the most important protein feed raw material in China, which affects the costs of animal husbandry. Volatility in the international soybean market would generate risk spillovers to China’s soybean industrial chain. This paper analyzed the channel of risk spillover from the international soybean market to China’s soybean industry chain and the asymmetry of the risk spillover. The degree of risk spillover from the international soybean market to the Chinese soybean industry chain was measured by the Copula–CoVaR model. The moderating role of inventory and demand in asymmetric risk spillovers was analyzed by quantile regression. We draw the following conclusions: First, the international soybean market impacts China’s soybean industry chain through soybeans rather than soybean meal and oil. The price fluctuation of China soybean market is obviously lower than that of the international soybean market. Second, there are apparent asymmetric risk spillovers from the international soybean market to China’s soybean industry chain, especially the soybean meal market. Third, increasing the Chinese soybean inventory and growing demand could effectively prevent the downside risk spillover from international markets to China’s soybean market. This also explains the asymmetry of risk spillovers. The research enriches the research perspective on food security, and the analysis of risk spillover mechanisms provides a scientific basis for relevant companies to develop risk-management strategies. Full article