Two recent studies have found that the prices at which CDS auctions clear tend to differ substantially from both pre-and post-auction prices of the underlying bonds in the market. In particular, CDS "sell" auctions appear to result in systematic underpricing, and CDS "buy" auctions in systematic overpricing, of the bonds relative to market prices. In this article, using data on all auctions up to 2013, the authors confirm that these patterns hold and, indeed, that trading on this apparent mispricing between the market and the auction can generate paper arbitrage profits of 15% or more. They find, however, that these gains largely represent compensation for bearing liquidity risk.Notes: This exhibit shows the behavior of average log-prices in each of three subperiods on the auction day. The three subperiods are: pre-IMM, the interim period between the announcement of the IMM and the revelation of the auction final price, and post-auction. For each subperiod, we calculate the valueweighted average price of each bond then take the average over all the auctions of the logs of these prices.
Background: Prostate cancer is the most common cancer in men. The most common prostate cancer test is the prostate-specific antigen (PSA) test. This is a simple blood test that measures the presence of prostate-specific antigen circulating in bloodstream. This test is usually the first step in any prostate cancer diagnosis.
Objective: To detect the occurrence of prostate cancer at different level of serum PSA level between 2.5ng/ml and 4ng/ml.
Method: This hospital based cross sectional analytical study was conducted between the periods of January 2012 to April 2013. A total of 30 patients with features of lower urinary tract symptoms with enlarged prostate attending to the Department of Urology, National Institute of Kidney Diseases & Urology (NIKDU), Sher-E-Bangla Nagar, Dhaka were purposively selected as study population by taking the permission of ethical committee. Patients more than 50 years old with lower urinary tract symptoms at S. PSA level 2.5 - 4 ng/ml and enlarged prostate in DRE were selected as study population. Patients with bleeding disorder, anorectal pathology, active UTI or prostatitis or urethral stricture were excluded from this study. DRE was done to see the size, consistency and nodularity of prostate. Those who had enlarged prostate found on DRE, they were sent for biopsy multi parametric MRI (MPMRI) & Prostate Imaging Reporting and Data system (PIRAD) score may be applied.
Result: The mean age of the patients was 66.87±10.13 years with a range of 52-90 years. Among 30 patients 10 (33.3%) were in the age group of 51-60 years, 10 (33.3%) were in the age group of 61 - 70 years, 5 (16.7%) were in the age group of 71 - 80 years and 5 (16.7%) were in the age group >80 years. Among 30 patients 4 (13.3%) had malignant lesion and 26 (86.7%) had benign lesion. Mean serum PSA level among the patients with histopathological findings benign and malignant were 3.34±0.51 and 3.47±0.43 ng/ml respectively. Out of 4 patients with malignant lesion, 1(25.0%) had serum PSA level within 2.50-2.99 ng/ml, another 1(25.0%) had 3.00-3.49 ng/ml and 2(50.0%) had serum PSA level within 3.50-4.00 ng/ml. There is no statistically significant difference observed in serum PSA level among the patients with histopathological findings benign and malignant (P>0.05).
Conclusion: For early diagnosis of prostate cancer cut-off value of serum PSA of 2.5 ng/ ml may be used as an indication for prostate biopsy.
Bangladesh Journal of Urology, Vol. 19, No. 2, July 2016 p.85-89
This paper examines the impact of the recently passed Jumpstart Our Business Startups (JOBS) Act on the behavior of market participants. Using the JOBS Act — which relaxed mandatory information disclosure requirements — as a natural experiment on firms’ choices of the mix of hard, accounting information and textual disclosures, we find that relative to a peer group of firms, initial public offering (IPO) firms reduce accounting disclosures and change textual disclosures. Because it allows a partial revelation of IPO quality, only textual disclosures affect underpricing. We also find that the Securities and Exchange Commission (SEC) changes its behavior post-JOBS Act in responding to draft registration statements. Specifically, the SEC’s comment letters to firms are more negative in tone, and more forceful in their recommendations, focusing on quantitative information. Finally, under the JOBS Act, investors place more emphasis on the information produced by the SEC when pricing the stock. Returns following public release of the letters vary by about 4% based on letter tone.
Objectives: To compare the effect of early and conventional catheter removal after TURP.
Methods: The cases were selected from the admitted patients with BPH by using simple purposive sampling technique. Sixty (60) cases were included in the study fulfilling selection criteria of the patient and numbered chronologically according to their data and time of operation. Odd numbers of cases were included in group-A (n=30) for early catheter removal within 48 hours and even numbers of cases in group-B (n=30) for conventional catheter removal within 3-5 days.
Results: Postoperative hospital stay 47.12 (±7.92) hours in group A and 113.23(±10.8) hours were in group B (p<0.001) that was statistically highly significant.
Conclusion: Early catheter removal within 48 hours following Transurethral Resection of Prostate (TURP) is safe. It reduces the catheter related morbidity and postoperative hospital stay.
Bangladesh Journal of Urology, Vol. 20, No. 2, July 2017 p.82-86
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