We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
To save content items to your account,
please confirm that you agree to abide by our usage policies.
If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account.
Find out more about saving content to .
To save content items to your Kindle, first ensure no-reply@cambridge.org
is added to your Approved Personal Document E-mail List under your Personal Document Settings
on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part
of your Kindle email address below.
Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations.
‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi.
‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Written for the MBA or undergraduate first course in finance, as well as follow-on courses, this textbook provides a clear, accessible, and thorough explanation of the principles of finance; how they connect to real-world practice and how they are used to solve problems. Structured around ten unifying principles representing the core tenets of the science, this book imparts basic financial concepts irrespective of the institutional framework, ensuring that students learn about finance in a way that is applicable both now and into the future. Pedagogical features include learning objectives and major takeaways, applications in the world of business, numerous worked examples, key equation boxes highlighting the most important financial equations, quick check questions with solutions, key finance terms with a detailed glossary, and more than 380 homework problems. Online resources include a solutions manual, detailed instructor manual to adapt the book to your course, lectures slides and an 800 question test bank for instructors.
A model is proposed for the description of ordinal test scores based on the definition of true score as expected rank. Derivations from the model are compared with results from clasiscal test theory as developed by Lord and Novick, in particular with respect to parallel tests and composites. An unbiased estimator of population true score from sample data is derived and its variance is shown to decrease with increasing sample size. Population reliability is shown to be analytically related to expected sample reliability, and methods of reliability estimation are discussed.
A dilemma was created for factor analysts by Ferguson (Psychometrika, 1941, 6, 323–329) when he demonstrated that test items or sub-tests of varying difficulty will yield a correlation matrix of rank greater than 1, even though the material from which the items or sub-tests are drawn is homogeneous, although homogeneity of such material had been defined operationally by factor analysts as having a correlation matrix of rank 1. This dilemma has been resolved as a case of ambiguity, which lay in (1) failure to specify whether homogeneity was to apply to content, difficulty, or both, and (2) failure to state explicitly the kind of correlation to be used in obtaining the matrix. It is demonstrated that (1) if the material is homogeneous in both respects, the type of coefficient is immaterial, but (2) if content is homogeneous but difficulty is not, the homogeneity of the content can be demonstrated only by using the tetra chorie correlation coefficient in deriving the matrix; and that the use of the phi-coefficient (Pearsonian r) will disclose only the nonhomogeneity of the difficulty and lead to a series of constant error factors as contrasted with content factors. Since varying difficulty of items (and possibly of sub-tests) is desirable as well as practically unavoidable, it is recommended that all factor analysis problems be carried out with tetrachoric correlations. While no one would want to obtain the constant error factors by factor analysis (difficulty being more easily obtained by counting passes), their importance for test construction is pointed out.
Inference is considered for the marginal distribution of X, when (X, Y) has a truncated bivariate normal distribution. The Y variable is truncated, but only the X values are observed. The relationship of this distribution to Azzalini's “skew-normal” distribution is obtained. Method of moments and maximum likelihood estimation are compared for the three-parameter Azzalini distribution. Samples that are uniformative about the skewness of this distribution may occur, even for large n. Profile likelihood methods are employed to describe the uncertainty involved in parameter estimation. A sample of 87 Otis test scores is shown to be well-described by this model.
It is shown that approaches other than the internal consistency method of estimating test reliability are either less satisfactory or lead to the same general results. The commonly attendant assumption of a single factor throughout the test items is challenged, however. The consideration of a test made up of K sub-tests each composed of a different orthogonal factor disclosed that the assumption of a single factor produced an erroneous estimate of reliability with a ratio of (n−K)/(n−1) to the correct estimate. Special difficulties arising from this error in application of current techniques to short tests or to test batteries are discussed. Application of this same multi-factor concept to item-analysis discloses similar difficulties in that field. The item-test coefficient approaches √1/K as an upper limit rather than 1.00 and approaches √1/n as a lower limit rather than .00. This latter finding accounts for an over-estimation error in the Kuder-Richardson formula (8). A new method of isolating sub-tests based upon the item-test coefficient is proposed and tentatively outlined. Either this new method or a complete factor analysis is regarded as the only proper approach to the problem of test reliability, and the item-sub-est coefficient is similarly recommended as the proper approach for item analysis.
A formal theory of appropriateness for statistical operations is presented which incorporates features of Stevens’ theory of appropriate statistics and Suppes’ theory of empirical meaningfulness. It is proposed that a statistic be regarded as appropriate relative to statements made about it in case the truths of these statements are invariant under permissible transformations of the measurement scale. It is argued that the use of inappropriate statistics leads to the formulation of statements which are either semantically meaningless or empirically nonsignificant.
A new method of test selection, which attempts to combine the merits of the Toops L-Method with those of the Wherry-Doolittle Method, is presented. It results in integral (unit if desired) positive and/or negative (optional) weights. This flexibility makes the method applicable to all kinds of material and for both selecting items for tests and tests for batteries. An explicit solution of one test construction problem is presented. Necessary changes in method for the solution of five other types of test construction problem are presented. A few cautions are provided for potential users.
The Deterministic, Gated Item Response Theory Model (DGM, Shu, Unpublished Dissertation. The University of North Carolina at Greensboro, 2010) is proposed to identify cheaters who obtain significant score gain on tests due to item exposure/compromise by conditioning on the item status (exposed or unexposed items). A “gated” function is introduced to decompose the observed examinees’ performance into two distributions (the true ability distribution determined by examinees’ true ability and the cheating distribution determined by examinees’ cheating ability). Test cheaters who have score gain due to item exposure are identified through the comparison of the two distributions. Hierarchical Markov Chain Monte Carlo is used as the model’s estimation framework. Finally, the model is applied in a real data set to illustrate how the model can be used to identify examinees having pre-knowledge on the exposed items.
We employ direct numerical simulations to investigate the heat transfer and flow structures in turbulent Rayleigh–Bénard convection in both cylindrical cells and laterally periodic domains, spanning an unprecedentedly wide range of aspect ratios $0.075 \leqslant \varGamma \leqslant 32$. We focus on Prandtl number ${Pr}=1$ and Rayleigh numbers ${{Ra}}=2\times 10^7$ and ${{Ra}}=10^8$. In both cases, with increasing aspect ratio, the heat transfer first increases, then reaches a maximum (which is more pronounced for the cylindrical case due to confinement effects), and then slightly goes down again before it finally saturates at the large aspect ratio limit, which is achieved already at $\varGamma \approx 4$. Already for $\varGamma \gtrsim 0.75$, the heat transfers in both cylindrical and laterally periodic domains become identical. The large-$\varGamma$ limit for the volume-integrated Reynolds number and the boundary layer thicknesses are also reached at $\varGamma \approx 4$. However, while the integral flow properties converge at $\varGamma \approx 4$, the confinement of a cylindrical domain impacts the temperature and velocity variance distributions up to $\varGamma \approx 16$, as thermal superstructures cannot form close to the sidewall.
Machine learning (ML) has developed classifiers differentiating patient groups despite concerns regarding diagnostic reliability. An alternative strategy, used here, is to develop a functional classifier (hyperplane) (e.g. distinguishing the neural responses to received reward v. received punishment in typically developing (TD) adolescents) and then determine the functional integrity of the response (reward response distance from the hyperplane) in adolescents with externalizing and internalizing conditions and its associations with symptom clusters.
Methods
Two hundred and ninety nine adolescents (mean age = 15.07 ± 2.30 years, 117 females) were divided into three groups: a training sample of TD adolescents where the Support Vector Machine (SVM) algorithm was applied (N = 65; 32 females), and two test groups– an independent sample of TD adolescents (N = 39; 14 females) and adolescents with a psychiatric diagnosis (major depressive disorder (MDD), generalized anxiety disorder (GAD), attention deficit hyperactivity disorder (ADHD) & conduct disorder (CD); N = 195, 71 females).
Results
SVM ML analysis identified a hyperplane with accuracy = 80.77%, sensitivity = 78.38% and specificity = 88.99% that implicated feature neural regions associated with reward v. punishment (e.g. nucleus accumbens v. anterior insula cortices). Adolescents with externalizing diagnoses were significantly less likely to show a normative and significantly more likely to show a deficient reward response than the TD samples. Deficient reward response was associated with elevated CD, MDD, and ADHD symptoms.
Conclusions
Distinguishing the response to reward relative to punishment in TD adolescents via ML indicated notable disruptions in this response in patients with CD and ADHD and associations between reward responsiveness and CD, MDD, and ADHD symptom severity.
Motor neuron disease (MND) is a progressive, fatal, neurodegenerative condition that affects motor neurons in the brain and spinal cord, resulting in loss of the ability to move, speak, swallow and breathe. Acceptance and commitment therapy (ACT) is an acceptance-based behavioural therapy that may be particularly beneficial for people living with MND (plwMND). This qualitative study aimed to explore plwMND’s experiences of receiving adapted ACT, tailored to their specific needs, and therapists’ experiences of delivering it.
Method:
Semi-structured qualitative interviews were conducted with plwMND who had received up to eight 1:1 sessions of adapted ACT and therapists who had delivered it within an uncontrolled feasibility study. Interviews explored experiences of ACT and how it could be optimised for plwMND. Interviews were audio recorded, transcribed and analysed using framework analysis.
Results:
Participants were 14 plwMND and 11 therapists. Data were coded into four over-arching themes: (i) an appropriate tool to navigate the disease course; (ii) the value of therapy outweighing the challenges; (iii) relevance to the individual; and (iv) involving others. These themes highlighted that ACT was perceived to be acceptable by plwMND and therapists, and many participants reported or anticipated beneficial outcomes in the future, despite some therapeutic challenges. They also highlighted how individual factors can influence experiences of ACT, and the potential benefit of involving others in therapy.
Conclusions:
Qualitative data supported the acceptability of ACT for plwMND. Future research and clinical practice should address expectations and personal relevance of ACT to optimise its delivery to plwMND.
Key learning aims
(1) To understand the views of people living with motor neuron disease (plwMND) and therapists on acceptance and commitment therapy (ACT) for people living with this condition.
(2) To understand the facilitators of and barriers to ACT for plwMND.
(3) To learn whether ACT that has been tailored to meet the specific needs of plwMND needs to be further adapted to potentially increase its acceptability to this population.
Severe mental illness (SMI), which includes schizophrenia, schizoaffective disorder and bipolar disorder, has profound health impacts, even in the elderly.
Aims
To evaluate relative risk of hospital admission and length of hospital stay for physical illness in elders with SMI.
Method
To construct a population-based retrospective cohort observed from April 2007 to March 2016, data from a case registry with full but de-identified electronic health records were retrieved for patients of the South London and Maudsley NHS Foundation Trust, the single secondary mental healthcare service provider in south-east London. We compared participants with SMI aged >60 years old with the general population of the same age and residing in the same areas through data linkage by age-, sex- and fiscal-year-standardised admission ratios (SARs) for primary diagnoses at hospital discharge. Furthermore, we compared the duration of hospital stay with an age-, sex- and cause-of-admission-matched random group by linear regression for major causes of admission.
Results
In total, records for 4175 older people with SMI were obtained, relating to 10 342 admission episodes, showing an overall SAR for all physical illnesses of 5.15 (95% CI: 5.05, 5.25). Among the top causes of admission, SARs ranged from 3.87 for circulatory system disorders (ICD-10 codes: I00–I99) to 6.99 for genitourinary system or urinary conditions (N00–N39). Specifically, the diagnostic group of ‘symptoms, signs and findings, not elsewhere classified’ (R00–R99) had an elevated SAR of 6.56 (95% CI: 6.22, 6.90). Elders with SMI also had significantly longer hospital stays than their counterparts in the general population, especially for digestive system illnesses (K00–K93), after adjusting for confounding.
Conclusions
Poorer overall physical health and specific patterns were identified in elders with SMI.
To assess the psychosocial functioning concerning obsessive-compulsive symptoms (OCS) and/or obsessive-compulsive disorder (OCD) comorbidity in people with schizophrenia, schizoaffective disorder, or bipolar disorder diagnosed in a large case register database in Southeast London. Data were retrieved from the South London and Maudsley NHS Foundation Trust Biomedical Research Centre (SLaM BRC) register using Clinical Record Interactive Search (CRIS) system, a platform allowing research on full but de-identified electronic health records for secondary and tertiary mental healthcare services. Information of schizophrenia, schizoaffective disorder, bipolar disorder diagnosis and OCS/OCD status was ascertained from structural or free-text fields through natural language processing (NLP) algorithms based on artificial intelligence techniques during the observation window of January 2007 to December 2016. Associations between comorbid OCS/OCD and recorded Health of the Nation Outcome Scales (HoNOS) for problems with activities of daily living (ADLs), living conditions, occupational and recreational activities, and relationships were estimated by logistic regression with socio-demographic confounders controlled. Of 15,412 subjects diagnosed with schizophrenia, schizoaffective disorder, or bipolar disorder, 2,358 (15.3%) experienced OCS without OCD, and 2,586 (16.8%) had OCD recorded. The presence of OCS/OCD was associated with more problems with relationships (adj.OR = 1.34, 95% CI: 1.25–1.44), ADLs (adj.OR = 1.31, 95%CI: 1.22–1.41), and living conditions (adj.OR = 1.31, 95% CI: 1.22–1.41). Sensitivity analysis revealed similar outcomes. Comorbid OCS/OCD was associated with poorer psychosocial functioning in people with schizophrenia, schizoaffective disorder, or bipolar disorder. This finding highlights the importance of identification and treatment of comorbid OCS among this vulnerable patient group.
Post-traumatic stress disorder (PTSD) has been shown to predict psychotic symptomology. However, few studies have examined the relative contribution of PTSD compared to broader post-traumatic sequelae in maintaining psychosis. Complex PTSD (cPTSD), operationalized using ICD-11 criteria, includes core PTSD (intrusions, avoidance, hyperarousal) as well as additional “disturbances of self-organisation” (DSO; emotional dysregulation, interpersonal difficulties, negative self-concept) symptoms, more likely to be associated with complex trauma histories. It was hypothesized that DSOs would be associated with positive psychotic symptoms (paranoia, voices, and visions) in daily life, over and above core PTSD symptoms.
Methods
This study (N = 153) employed a baseline subsample of the Study of Trauma And Recovery (STAR), a clinical sample of participants with comorbid post-traumatic stress and psychosis symptoms. Core PTSD, DSO and psychosis symptoms were assessed up to 10 times per day at quasi-random intervals over six consecutive days using Experience Sampling Methodology.
Results
DSOs within the preceding 90 min predicted paranoia, voices, and visions at subsequent moments. These relationships persisted when controlling for core PTSD symptoms within this timeframe, which were themselves significant. The associations between DSOs and paranoia but not voices or visions, were significantly stronger than those between psychosis and core PTSD symptoms.
Conclusions
Consistent with an affective pathway to psychosis, the findings suggest that DSOs may be more important than core PTSD symptoms in maintaining psychotic experiences in daily life among people with comorbid psychosis and cPTSD, and indicate the potential importance of addressing broad post-traumatic sequelae in trauma-focused psychosis interventions.
Depression is an independent risk factor for cardiovascular disease (CVD), but it is unknown if successful depression treatment reduces CVD risk.
Methods
Using eIMPACT trial data, we examined the effect of modernized collaborative care for depression on indicators of CVD risk. A total of 216 primary care patients with depression and elevated CVD risk were randomized to 12 months of the eIMPACT intervention (internet cognitive-behavioral therapy [CBT], telephonic CBT, and select antidepressant medications) or usual primary care. CVD-relevant health behaviors (self-reported CVD prevention medication adherence, sedentary behavior, and sleep quality) and traditional CVD risk factors (blood pressure and lipid fractions) were assessed over 12 months. Incident CVD events were tracked over four years using a statewide health information exchange.
Results
The intervention group exhibited greater improvement in depressive symptoms (p < 0.01) and sleep quality (p < 0.01) than the usual care group, but there was no intervention effect on systolic blood pressure (p = 0.36), low-density lipoprotein cholesterol (p = 0.38), high-density lipoprotein cholesterol (p = 0.79), triglycerides (p = 0.76), CVD prevention medication adherence (p = 0.64), or sedentary behavior (p = 0.57). There was an intervention effect on diastolic blood pressure that favored the usual care group (p = 0.02). The likelihood of an incident CVD event did not differ between the intervention (13/107, 12.1%) and usual care (9/109, 8.3%) groups (p = 0.39).
Conclusions
Successful depression treatment alone is not sufficient to lower the heightened CVD risk of people with depression. Alternative approaches are needed.
Many scholars agree that one of Darwin’s main accomplishments was the introduction of blind mechanism into biology, thus banishing moral values from the understanding of nature. The history of Darwin’s accomplishment and the trajectory of evolutionary theory during the late nineteenth and early twentieth centuries has led many to the conclusion that the principle of survival of the fittest has rendered human behavior, including moral behavior, ultimately selfish. As a result, many accept the idea that Darwinian theory, especially as construed by Darwin’s German disciple, Ernst Haeckel, inspired Hitler and led to Nazi atrocities. However, this claim is false. A close historical examination reveals that Darwin, in more traditional fashion, constructed nature with a moral spine and provided it with a goal: man as a moral creature. Moreover, Hitler’s own conception of biological processes was antithetical to Darwin’s theory; and the leading Nazi theorists rejected Darwinian evolution because of its materialistic character. The chapter shows that Darwin is wrongfully blamed for Hitler’s atrocities.
Diagnosis of acute ischemia typically relies on evidence of ischemic lesions on magnetic resonance imaging (MRI), a limited diagnostic resource. We aimed to determine associations of clinical variables and acute infarcts on MRI in patients with suspected low-risk transient ischemic attack (TIA) and minor stroke and to assess their predictive ability.
Methods:
We conducted a post-hoc analysis of the Diagnosis of Uncertain-Origin Benign Transient Neurological Symptoms (DOUBT) study, a prospective, multicenter cohort study investigating the frequency of acute infarcts in patients with low-risk neurological symptoms. Primary outcome parameter was defined as diffusion-weighted imaging (DWI)-positive lesions on MRI. Logistic regression analysis was performed to evaluate associations of clinical characteristics with MRI-DWI-positivity. Model performance was evaluated by Harrel’s c-statistic.
Results:
In 1028 patients, age (Odds Ratio (OR) 1.03, 95% Confidence Interval (CI) 1.01–1.05), motor (OR 2.18, 95%CI 1.27–3.65) or speech symptoms (OR 2.53, 95%CI 1.28–4.80), and no previous identical event (OR 1.75, 95%CI 1.07–2.99) were positively associated with MRI-DWI-positivity. Female sex (OR 0.47, 95%CI 0.32–0.68), dizziness and gait instability (OR 0.34, 95%CI 0.14–0.69), normal exam (OR 0.55, 95%CI 0.35–0.85) and resolved symptoms (OR 0.49, 95%CI 0.30–0.78) were negatively associated. Symptom duration and any additional symptoms/symptom combinations were not associated. Predictive ability of the model was moderate (c-statistic 0.72, 95%CI 0.69–0.77).
Conclusion:
Detailed clinical information is helpful in assessing the risk of ischemia in patients with low-risk neurological events, but a predictive model had only moderate discriminative ability. Patients with clinically suspected low-risk TIA or minor stroke require MRI to confirm the diagnosis of cerebral ischemia.
COVID-19 vaccine uptake in healthcare personnel (HCP) is poor. A cross-sectional survey study of behavioral health HCP was performed. Commonly identified reasons for vaccination were protecting others and oneself. Reasons against were a lack of perceived protection, dosing intervals, and side effects. Assessing vaccination attitudes can assist in uptake strategy.
Lithofacies and biostratigraphical analysis has enabled the establishment of a stratigraphic event framework for Ludfordian and Pridoli strata in south Wales and the Welsh Borderland. In SW Wales, the Golden Grove Axis acted as a structural hinge separating the shallow marine storm-influenced Cae’r mynach Seaway from a pediment surface above which Ludfordian colluvium (Abercyfor Formation) was deposited. The Axis seeded four NW-derived river-influenced delta progrades of Leintwardinian to early Pridoli age (Tilestones Formation). A NE-sourced early Pridoli wave-influenced delta deposited the Downton Castle Sandstone Formation (DCSF), coeval to the youngest Tilestones prograde, with a lateral interface existing between Mynydd Epynt and the Clun Forest area. Except for the Malverns area, the DCSF is no longer recognized south of the Neath Disturbance. Early Pridoli forced regression promoted widespread subaerial exposure north of the Neath Disturbance, with incision into tracts close to the Welsh Borderland Fault System. The basinward-shift in facies belts resulted in marine erosion and deposition of a phosphatic ravinement pebble lag. The wave-influenced Clifford’s Mesne Sandstone Formation delta subsequently seeded on the Gorsley Axis with tidally influenced Rushall Formation accumulating in a back-barrier setting. The Pwll-Mawr Formation records the easterly advance of coeval coastal deposits on the western side of the remnant Cae’r mynach Seaway. Behind migrating delta coastlines, green muds accumulated on coastal plains (Temeside Mudstone Formation) with better drained red dryland alluvium (Moor Cliffs Formation) charting expansion of Old Red Sandstone lithofacies. Mid-Pridoli incision preserves the Pont ar Llechau Formation estuarine valley fill.