To estimate the premium an investor should expect from extended hedge fund lockups, Derman et al. (2009) proposed a three-state discrete-time Markov Chain to model the state of a hedge fund, allowing the state to change randomly among the states “good,” “sick” and “dead” every year. The lockup premium measures the consequence of being stuck with a sick fund. To be more realistic, we propose an ...

Hedge funds have the most sophisticated risk management practices; however, hedge funds also appear to have a short lifetime relative to other managed funds. In this study, we investigate the failure probabilities of hedge funds—particularly the failures due to financial distress. We forecast the failure probabilities of hedge funds using both a proportional hazard model and a logistic model. B...

This paper examines the causes and consequences of hedge fund activism. Hedge funds target profitable and healthy firms, with above-average cash holdings. The target firms earn significantly higher abnormal stock returns around the initial 13D filing date than a sample of control firm. However, they do not show improvements in accounting performances in the year after the initial purchase. Inst...

Methanolic extracts of eight Salvia species, namely S. aethiopis, S. candidissima, S. limbata, S. microstegia, S. nemorosa, S. pachystachys, S. verticillata, and S. virgata, sampled from Eastern Anatolia in Turkey, were screened for their possible antioxidant activities by two complementary test systems, namely DPPH free radical scavenging and beta-carotene/linoleic acid. Total phenolic content...

The purpose of this study was to investigate the effect of Salvia miltiorrhiza on the production of plasminogen activator inhibitor-1(PAI-1) induced by angiotensin II (Ang II) in renal mesangial cells. Rat mesangial cells were exposed to 100 nM Ang II. Meanwhile, different concentrations of Salvia miltiorrhiza injection were added to Mesangial Cells. PAI-1 mRNA was measured by semi-quantificati...

The taxonomical relationship between Salvia pratensis and S. bertolonii has been unclear for a long time. Salvia bertolonii has alternatively been considered a synonym, a subspecies, a problematic subspecies and a form of Salvia pratensis. However, both these two species are sometimes used in traditional medicine instead of sage (Salvia officinalis) or as an adulteration for the same drug. In o...

Background Salvia officinalisL. has been used since ancient times but there are little data about effects of this herb on normal reproductive cells. Objective To investigate the toxicity effects of Salvia officinalis L. on granulosa cells (GCs) and maturation of oocytes. Materials and Methods GCs and oocytes were extracted from superovulated ovaries of immature mice. The cells were treated ...

BACKGROUND/AIM To evaluate acetylcholinesterase (AChE) inhibitory activity and antioxidant capacity of the major molecule from Salvia sp., rosmarinic acid, as a drug candidate molecule for treatment of Alzheimer disease (AD). MATERIALS AND METHODS The AChE inhibitory activity of different extracts from Salvia trichoclada, Salvia verticillata, and Salvia fruticosa was determined by the Ellman ...

In [13], an algebraic approach to the natural structure of domains of linguistic variables was introduced. In this approach, every linguistic domain can be interpreted as an algebraic structure called a hedge algebra. In this paper, a refinement structure of hedge algebras based on free distributive lattices generated by linguistic hedge operations will be examined in order to model structure o...

THE JOURNAL OF ALTERNATIVE INVESTMENTS 9 I t is now well established that the construction of optimal hedge fund portfolios requires techniques that reach well beyond traditional mean variance analysis. For example, Brooks and Kat [2002] demonstrate that various hedge fund strategies have more downside than upside risk—returns exhibit negative skew and excess kurtosis. Lo [2001] and Anson [2002...