Purpose
This paper aims to investigate the relationship between sustainability reporting and firm value, and subsequently, ascertains the moderating effect of assurance and the type of assurer on the ...sustainability reporting–firm value nexus.
Design/methodology/approach
The study is based on sample firms from the Johannesburg Stock Exchange (JSE) in South Africa. The fixed‐effect panel data analysis method is used to estimate the coefficients of the variables.
Findings
A significant positive relationship is found between sustainability reporting and firm value. The results also suggest that sustainability assurance has significant explanatory power on firm value. Furthermore, the authors found that the market is unable to distinguish between sustainability assurance services provided by Big 4 audit firms and specialist consultant firms.
Practical implications
The authors expect managers will see sustainability reporting and assurance as a business strategy with incremental market value. The study should also serve as a reference for stakeholders engaged in the advocacy for the adoption of sustainability assurance practices on the JSE and other emerging markets.
Social implications
The study finds that the South African market rewards firms that purchase third-party assurance to guarantee the integrity of their corporate social responsibility reports. This understanding could help encourage more firms to embrace the concept of sustainability assurance.
Originality/value
The study offers a first-hand information on how market participants in Johannesburg, an emerging economy, view sustainability assurance and the services provided by the different assurers.
We examined the effects of oil prices along with fundamental economic variables on exchange rate movements in the Korean and Japanese foreign exchange markets, using two-regime Markov Regime ...Switching Models (MRSMs) over the period from January 1991 to March 2019. We selected the best MRSMs explaining their exchange rate movements using the Maximum Log-Likelihood and Akaike Information Criteria, and analyze effects of oil prices on their exchange rates based on the selected best MRSMs. We consider two regimes, regime 1 with high-volatility and regime 2 with low-volatility. In Korea, two apparent regimes are observed, and unstable regime 1 consists of two distinct prolonged periods, the 1997 Asian Financial Crisis and the 2008 Global Financial Crisis. Meanwhile in Japan, no evident prolonged regimes are observed. Rather, the two regimes occasionally alternate. Oil prices influence exchange rate movements in regime 2 with low-volatility in Korea, while they do not influence exchange rate movements in either regimes in Japan. The Japanese foreign exchange market is more resistant to external oil price shocks because the Japanese industry and economy has less dependence on oil than Korea.
The aim of this study was to evaluate the association of contrast-enhanced ultrasound (CEUS) features using Sonazoid for liver nodules with Liver Imaging Reporting and Data System (LI-RADS) ...categories and to identify the usefulness of Kupffer-phase images.
This retrospective study was conducted in 203 patients at high risk of hepatocellular carcinoma (HCC) who underwent CEUS with Sonazoid from 2013 to 2016. Nodule enhancement in the arterial, portal venous, late, and Kupffer phases; CEUS LI-RADS major features; and Kupffer-phase defects were evaluated. According to the computed tomography/magnetic resonance imaging (CT/MRI) LI-RADS v2018, all nodules were assigned an LR category (n=4/33/99/67 for LR-M/3/4/5) and comparisons across LR categories were made. We defined modified CEUS LI-RADS as using Kupffer-phase defects as an alternative to late and mild washout in CEUS LI-RADS and compared the diagnostic performance for HCC.
On CEUS of 203 nodules, 89.6% of CT/MRI LR-5 and 85.9% of LR-4 nodules showed hyperenhancement in the arterial phase, while 57.6% of LR-3 nodules showed hyperenhancement. Among the CT/MRI LR-5 nodules that showed arterial phase hyperenhancement or isoenhancement, 59.7% showed hypoenhancing changes from the portal venous phase, 23.9% from the late phase, and 13.4% additionally in the Kupffer phase. The modified CEUS LI-RADS showed higher sensitivity than CEUS LI-RADS (83.2% vs. 74.2%, P=0.008) without compromising specificity (63.6% vs. 69.7%, P=0.500).
The Kupffer phase best shows hypoenhancing changes in LR-5 lesions and is expected to improve the sensitivity for HCC in high-risk patients.
The LI-RADS treatment response algorithm may lack sufficient sensitivity for viable tumor after locoregional treatment (LRT) for hepatocellular carcinoma (HCC).
The purpose of our study was to ...evaluate the impact of incorporation of ancillary MRI features on the diagnostic performance of the LI-RADS treatment response algorithm after LRT for HCC.
This retrospective study included 141 patients (114 men, 27 women; median age, 56 years) who underwent gadoxetic acid-enhanced MRI after LRT for HCC between October 2005 and January 2020 and subsequent liver surgery. Two readers assessed lesions for LI-RADS features of viability for ancillary MRI features (transitional phase TP hypointensity, hepatobiliary phase HBP hypointensity, DWI hyperintensity or low ADC, and mild-to-moderate T2 hyperintensity). Interobserver agreement was assessed before reaching consensus. Significant ancillary features were identified using random forest analysis. The impact of incorporation of significant ancillary features on diagnostic performance for incomplete pathologic necrosis (IPN; pathologically viable tumor > 0 mm) was assessed using McNemar tests.
Complete pathologic necrosis (CPN) was observed in 88 of 181 (48.6%) lesions. Interreader agreement was almost perfect for LI-RADS features of viability (κ = 0.92-0.97) and was substantial to almost perfect for ancillary features (κ = 0.73-0.94). Random forest analysis identified TP hypointensity (present in 8.0%, 25.0%, and 75.3% of lesions with CPN, viable tumor < 10 mm, and viable tumor ≥ 10 mm, respectively) and HBP hypointensity (9.2%, 25.0%, and 74.0%, respectively) as significant ancillary features. For detecting IPN, LR-TR (treatment response) Viable or LR-TR Equivocal had higher sensitivity than LR-TR Viable (71.0% vs 57.0%, respectively;
= .001) but had lower specificity (86.4% vs 94.3%,
= .02). However, LR-TR Viable or LR-TR Equivocal and TP hypointensity showed higher sensitivity than LR-TR Viable (64.5% vs 57.0%,
= .02) without a significantly different specificity (90.9% vs 94.3%,
= .25). LR-TR Viable or LR-TR Equivocal and HBP hypointensity also showed higher sensitivity than LR-TR Viable (65.6% vs 57.0%,
= .01) without a significantly different specificity (90.8% vs 94.3%,
= .25).
TP hypointensity and HBP hypointensity increase the sensitivity of LI-RADS treatment response algorithm for viable tumor without lowering specificity.
The two identified ancillary features may improve tumor viability assessment and planning of additional therapies after LRT for HCC.
The 2017 Core of the computed tomography (CT)/magnetic resonance imaging (MRI) Liver Imaging Reporting and Data System (LI-RADS) provides clear definitions and concise explanations of the CT/MRI ...diagnostic algorithm. Nevertheless, there remain some practical and controversial issues that radiologists should be aware of when using the system. This article discusses pitfalls and problems which may be encountered when the version 2017 diagnostic algorithm is used for CT and MRI. The pitfalls include challenges in applying major features and assigning the LR-M category, as well as categorisation discrepancy between CT and MRI. The problems include imprecision of category codes, application of ancillary features, and regional practice variations in hepatocellular carcinoma (HCC) diagnosis. Potential solutions are presented along with these pitfalls and problems.
Key Points
• Although the diagnostic algorithm provides clear and detailed explanations, major feature evaluation can be subject to pitfalls and differentiation of HCC and non-HCC malignancy remains challenging.
• Ancillary features are optional and equally weighted. However, features such as hepatobiliary phase hypointensity and restricted diffusion have greater impact on HCC diagnosis than other ancillary features and may merit greater emphasis or weighting.
• LI-RADS was initially developed from a Western paradigm, which may limit its applicability in the East due to regional practice variations. In Eastern Asia, high sensitivity is prioritised over near-perfect specificity for HCC diagnosis in order to detect tumours at early stages.
In the fabrication of safe, but powerful lithium ion batteries (LIBs), graphene-related materials are being actively examined in order to meet the demand for applications such as electric vehicles ...and smart grids. However, most of this work has focused on liquid-phase exfoliated graphene and reduced graphene oxide. Herein, we demonstrate a simple, but effective route for significantly improving the electrochemical performance of currently available LIBs by coupling current collector with catalytically grown large-area graphene. When coating current collectors with large-area three-layered graphene, a reduction in the internal resistance (or effective electron transfer) between the current collector and active materials was observed. The graphene also protected the underlying collector from corrosion, greatly improving the power capability and cyclability of LIBs. The three-layered graphene provided the best electrochemical performance and corrosion resistance because of its high electrical conductivity and mechanical stability during the transfer process. We believe that our approach using interfacial graphene coating can be used with all kinds of electrochemical energy-storage systems, in which high corrosion resistance, electrical conductivity, and flexibility are critical.
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•We examine the effectiveness of the interface platform for a health behavior game.•We compare interfaces that vary in level of user interface embodiment in the game.•Type of interface affects user ...experience and physical activity during gameplay.•Type of interface affects some intention for behavior change in the real world.•The sense of presence and enjoyment mediate the effect of interface differences.
Does the delivery platform for a health behavior game contribute to its effectiveness? With the growing popularity of interactive video games that combine physical exercise with gameplay, known as “exergames,” there has been a burgeoning interest in their impact on users’ exercise attitudes and behavioral outcomes. This study examines how the level of user interface embodiment, the degree to which the user’s body interacts with the game, affects the user’s experience, game behavior, and intention for behavior change. We conducted a between-participants experiment in which participants (N=119) played an exergame under one of the three levels of user interface embodiment (low, medium, and high). Our results revealed a significant positive main effect of user interface embodiment on user experience (i.e., the sense of being in the game, “presence,” and enjoyment); level of energy expenditure (change in heart rate); and intention to further engage in exergame-play exercise but not necessarily to increase exercise in the physical world. A further analysis revealed the mediating roles of user experience in the association between user interface embodiment and intention to repeat exergaming and a potential link between heart rate change and level of presence in the game. We conclude that type of interface is a key variable in this health communication environment, affecting user experience, behavior, and some intention for behavior change.
Objective Post-traumatic posterolateral rotatory instability (PLRI) can be shown as radiocapitellar incongruity or posterior translation (PT) of the radial head in magnetic resonance imaging (MRI). ...We aimed to evaluate whether PT correlated with pathologic changes of lateral elbow stabilizers in patients with lateral epicondylitis. Materials and methods In MRIs of 160 patients with lateral epicondylitis, we measured PT of the radial head in the sagittal images. We qualitatively graded five lesions of the lateral elbow structures that included common extensor tendon (CET) lesion (grade 1-3), lateral collateral ligament complex (LCLC) insufficiency (grade 0-2), and absence or presence of bone marrow signal change, osteochondral lesion, and calcification. We analyzed whether the PT correlated with pathologic changes of the lateral elbow stabilizers and evaluated the diagnostic value of the PT for severe lesions. Results The average PT was 1.9 mm. The PT correlated with both the CET lesion (p < 0.001) and LCLC insufficiency (p 3.4mm as suggested for post-traumatic PLRI, 21 patients had potential PLRI. The positive predictive values of the PT > 3.4mm were 76% for grade 3 CET lesions and 67% for grade 2 LCLC insufficiency. Conclusion This study demonstrates that PT of the radial head correlates with pathological changes of the lateral elbow stabilizers. As radiocapitellar incongruity is easy to measure quantitatively, it can be used for screening potential PLRI in patients with lateral epicondylitis.
Aims and objectives
To identify whether meaning in life has moderating and mediating effects on the relationship between depression and quality of life in patients with dysphagia.
Background
...Dysphagic patients typically have multidimensional problems, such as depression, which can negatively influence their quality of life. Meaning in life, therefore, can be used as a psychological resource that may enhance quality of life for these patients.
Design
A descriptive cross‐sectional research design was used.
Methods
Ninety patients with dysphagia were recruited for a survey from eight general and rehabilitation hospitals in Korea. The questionnaires, which included the Korean version of the Swallowing Quality of Life scale developed by Cha, the Center for Epidemiological Studies‐Depression Scale developed by Radloff, and the Purpose in Life test developed by Crumbaugh and Maholick, were used for data collection. Descriptive statistics, Hayes' PROCESS macro and Cronbach's alpha were used for data analyses.
Results
Meaning in life was found to mediate the relationship between depression and quality of life in patients with dysphagia. However, the index of moderation was not statistically significant, which mean that meaning in life did not moderate the relationship between the patients' depression and quality of life.
Conclusions
Meaning in life had a mediating effect on the relationship between depression and quality of life in patients with dysphagia. Thus, to improve the quality of life of patients with dysphagia, nurses should apply interventions to help them find meaning in life.
Relevance to clinical practice
Meaning in life can be used as a nursing intervention strategy to improve the quality of life for patients living with dysphagia and depression.
A novel anode material for lithium-ion batteries, graphene-wrapped Si nanoparticles (NPs) embedded in carbon composite nanofibers (CCNFs) with G/Si, is fabricated by electrospinning and subsequent ...thermal treatment. In CCNFs with G/Si, Si NPs are distributed and preserved inside the CNF surface because the graphene wrapping the Si NPs help prevent agglomeration and ensure a good dispersion of Si NPs inside the CNF matrix. 20-GSP prepared from a weight ratio of 20 wt% of G/Si to polyacrylonitrile exhibits stable capacity retention and a reversible capacity of above 600 mAh g sub(-1) up to 100 cycles. The high cycling performance and superior reversible capacity of the 20-GSP anode can be attributed to the onedimensional nanofibrous structure with non-agglomerated Si NPs in the CNF matrix, which promotes charge transfer, maintains a stable electrical contact, and buffers the Si volume expansion.
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