Firm size has remained a major area of investigation for researchers from a long time. This study aims at examining impact of different measures of firm size (total assets, total sales, market capitalization and number of employees) on seven important practices of corporate finance which are financial policy, dividend policy, investment policy, diversification, firm performance, compensation and incentives and board structure (corporate governance). Moreover, this study also examines the sensitivity of different proxies of firm size on these practices of corporate finance. Data from BRICS (Brazil, Russia, India, China and South Africa) have been analysed. Overall results supported the hypotheses. Study concludes that different proxies of firm size are differently related to practices of corporate finance based on sign, significance and R 2 . All proxies capture different aspects of firm size and have different implications for corporate finance. Thus, this study confirms "measurement effect" in "size effect". Unfortunately, this means that many of past studies may not be robust and are biased. Researchers thus need to be careful when selecting any proxy of firm size for their research keeping in mind the scope and context of their work. Choosing a proxy thus is a theoretical and empirical question.
Background:
In patients with lower extremity wounds, free tissue transfer is often the last option before amputation, making it crucial to optimize preoperative planning to prevent flap breakdown. No consensus exists regarding preoperative vascular workup before lower extremity free tissue transfer. In this study, the authors analyzed the utility of using arteriography for lower extremity free flap planning.
Methods:
A retrospective review was performed of 57 patients who underwent lower extremity arteriography and 59 free flap operations for lower extremity wounds between November of 2014 and August of 2017. Findings were used to guide flap recipient vessel selection. Arterial abnormality was addressed by means of endovascular intervention, where appropriate. Encountered abnormality was described and patient demographics, comorbidities, and outcomes were analyzed for correlation with abnormal angiographic studies.
Results:
Angiographic abnormalities were observed in 40 patients (67.8 percent), including 23 (57.5 percent) with stenosis/occlusion, 20 (50.0 percent) with atretic/nonvisualized vessels, and 11 (27.5 percent) requiring endovascular intervention. Stenosis/occlusion was detected in nine patients (15.3 percent) with no previously known arterial disease, leading to a new diagnosis of peripheral vascular disease. The flap survival rate was 98.3 percent, six patients (10.2 percent) ultimately progressed to amputation, and 53 patients (89.8 percent) were able to continue community ambulation at a mean follow-up time of 15.1 ± 9.51 months (range, 1.67 to 35.2 months). After arteriography, two patients (3.39 percent) suffered contrast-induced acute kidney injury. No other complications were noted.
Conclusion:
Preoperative lower extremity arteriography aids in the diagnosis of peripheral vascular disease, allows for timely endovascular intervention, and allows for optimal flap recipient vessel selection with a low complication rate.
CLINICAL QUESTION/LEVEL OF EVIDENC:
Diagnostic, IV.
Background:
Although venous thrombosis is a leading cause of flap failure, the majority of lower extremity free flap planning is centered on arterial system evaluation. Preoperative identification of relevant abnormality in lower extremity venous systems by means of duplex ultrasound may aid in the diagnosis of clinically important abnormality that could affect lower extremity flap outcomes.
Methods:
Between November of 2014 and August of 2017, 57 patients underwent preoperative lower extremity venous duplex imaging and free tissue transfer for lower extremity wounds. A retrospective review was performed to describe lower extremity venous pathologic findings, relevant patient demographic data, comorbid conditions, and outcomes. Discovery of venous abnormality helped guide recipient vein selection.
Results:
Fifty-seven consecutive patients underwent 59 free flap operations to treat chronic lower extremity wounds. Venous duplex ultrasonography detected venous insufficiency (defined as >0.5 second of reflux) in 23 patients (39.0 percent), including 16 (27.2 percent) with deep thigh reflux, six (10.2 percent) with superficial calf reflux, and four (6.78 percent) with deep calf reflux. Deep venous thrombosis was found in four patients (6.78 percent) and treated with anticoagulation. The flap success rate was 98.3 percent. Five patients (8.47 percent) progressed to amputation. At a mean follow-up time of 15.1 ± 9.51 months (range, 1.67 to 35.2 months), 53 patients (89.8 percent) were able to continue community ambulation.
Conclusions:
Lower extremity venous duplex testing before free tissue transfer may be useful for optimizing flap recipient vessel selection and for detecting potentially unknown venous abnormality. Development of free flap planning protocols incorporating preoperative vascular imaging is important to achieving good functional outcomes in this comorbid patient population.
CLINICAL QUESTION/LEVEL OF EVIDENCE:
Diagnostic, IV.
We examine the impact of top managers on performance and idiosyncratic risk of the sharia‐compliant firms in the UK and Pakistan by constructing a manager–firm matched panel data and then tracking the role of individual top managers across different firms. The results regarding the individual effects on performance by a particular firm show that there exists a significant difference for managers who move from a non‐sharia to a sharia‐compliant firm. However, this difference is not significant for managers who move from a sharia‐compliant firm to another sharia firm. Policy implications of the findings are discussed.
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