PurposeThe study uses the multivariate GARCH-BEKK model (which was first proposed by Baba et al. (1990) and then further developed by Engle and Kroner (1995)) to examine the return and volatility spillover between India and four leading Asian (namely, China, Japan, Singapore and Hong Kong) and two global (namely, the United Kingdom and the United States) equity markets.Design/methodology/approachThe study employs a multivariate GARCH-BEKK model to quantify return correlation and volatility transmission across the pre- and post-2008 global financial crisis periods (apart from other conventional time series modelling like cointegration, Granger causality using vector error correction model (VECM)).FindingsThe results show a tendency of the Indian stock market index to move along with the US and Hong Kong market indices. The decrease in the value of the co-integration coefficient during the recession was explained by reduced investor confidence in developing countries. The result further shows a clear distinction in terms of volatility spillover between the Asian market vis-a-vis US and UK markets. Volatility transmission from India to Asian markets was found to be significantly higher as compared to the US and UK. So also, the study’s results show a puzzling result giving us comparable co-integration ranks for phase 2 (expansion) and phase 3 (slow-down) of the business cycle in most cases.Research limitations/implicationsIn Granger causality testing, the results were unable to ascertain the difference between phase 2 (expansion) and phase 3 (slowdown). However, the multivariate GARCH (MGARCH)-BEKK model showed a clear reduction in volatility transmission to NIFTY50 (is the flagship index on the National Stock Exchange of India Ltd. (NSE)) as India entered slow-down. This shows that the Indian economy does go through different business cycles, and the changes in parameters hence prove hypothesis 3 to be true with respect to volatility transmission to India from International markets.Originality/valueThe results show that for all countries, the volatility transmitted to India increases significantly going from phase 1 (recession) to phase 2 (expansion) and reduces again once the countries enter slow-down in phase 3 (slowdown). This shows that during expansion shocks and impulses in international markets affect the Indian markets significantly, supporting the increase in co-integration in phase 2 (expansion). During expansion, developing markets like India become profitable for investors, due to the high growth rate when compared to developed countries. This implies that a significant amount of capital enters Indian markets, which is susceptible to the volatility of international markets. The volatility transmission from India to the US and UK was insignificant in phase 1 (recession and recovery) and phase 3 (slow-down) showing a weak linkage between the markets during volatile time periods.

The color identification responses to photographs of #thedress (white/gold and blue/black) and a jacket (white/blue and green/black, and teal) reveal obvious individual differences in color perception. To explore possible association between pupil size/retinal illuminance and color perception, we recorded the pupil diameters of participants shown 22 uniformly colored (generated from the RGB values using a laptop LCD display) screens followed by photographs of #thedress and jacket. We analyzed (a) pupil size difference in the color groups and (b) age-related pupil size and/or reflex change and its influence on color perception. The data confirms that the average pupil size of the white/gold group was significantly less than the blue/black group for the dress. The pupil size difference between the color groups is slightly higher in the 21-30-year and 31-55-year age groups but not in the 18-20-year age group, while a similar variance was not observed for the jacket color groups. Interestingly, the average pupil size of both color groups was smaller for the dress compared to the baseline (collected with a gray hue displayed on the screen), whereas an opposite effect was observed for the jacket. The contrasting results for the two photographs do not allow for a strong inference of only pupil size change principal for differences in color perception. But, a probable explanation of the pupil size difference could be the subjective variation in the perceptual interpretation of illumination cues in the photographs.

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ery low birth weight (VLBW) neonates represent a vulnerable group of newborns with a high mortality rate. The survival in neonates is associated with their birth weights, gestation, and illness severity. The survival rate of VLBW infants varies globally with 40% in developing countries to more than 90% in developed countries [1]. VLBW neonates who survived tend to have a higher risk for neurodevelopmental disabilities causing significant changes to the lives of their families [2]. Varied morbidities have been associated during initial hospitalization of VLBW infants, including respiratory distress syndrome (RDS), bloodstream and central nervous system infections, necrotizing enterocolitis (NEC), chronic lung disease (CLD), intraventricular hemorrhage, periventricular leukomalacia, and retinopathy of prematurity, leading to exposure to additional diagnostic, therapeutic, and surgical interventions. These cause psychological distress to families with an increase in the length of hospital stay, the risk of recurrent hospitalization, and costs of treatment [3].The morbidities in infants are proved to be associated with neurodevelopmental disabilities developing later including cerebral palsy, cognitive delay, hearing loss, and visual impairment [4,5]. According to several studies performed about morbidity and mortality and morbidity of neonates in the past two decades, no additional improvements have been seen [6]. Data are scarce on the incidence of short-term morbidities in preterm neonates from India. Bhat and Adhisivam concluded that early weaning from mechanical ventilator support in VLBW infants reduced morbidities such as CLD and infections [7]. The present study was designed and executed to assess the short-term outcomes of neonates with birth weights between 1000 g and 1500 g treated at the tertiary hospital of Central India. MATERIALS AND METHODSThis prospective cohort study was conducted in the NICU, conducted at the tertiary hospital of Central India from April 2014 to March 2015. It was a level 3 NICU with 20 intensive care beds and 6 bedded kangaroo mother care (KMC) ward with an annual admission of more than 1000 cases. All live VLBW neonates (1000-1500 g), admitted between the study period, were enrolled for the study. Extremely low weight (<1000 g), low birth weight (1500-2500 g), and normal birth weight (>2500 g) neonates