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Your search keyword '"Zhao, Mengxiang"' showing total 2 results
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2 results on '"Zhao, Mengxiang"'

1. Picking funds in China.

Author

Zhang, Yu and Zhao, Mengxiang

Abstract

• The fund confidence set (FCS) algorithm is applied to the Chinese mutual fund market. • Actively managed equity-based mutual funds from 2007 to 2020 in China were studied. • A four-factor model which better characterizes the Chinese market is identified. • An adaptive unscented Kalman filter is used to improve model performance. • The superior fund portfolios produce an average monthly excess return of up to 1.88 %. This study compiles data on actively managed mutual funds in China spanning from 2007 to 2020 to construct portfolios of superior funds using the Fund Confidence Set (FCS) algorithm. Time-varying alphas and betas are estimated using an adaptive unscented Kalman filter with maximum posterior and random weighting rather than the extended Kalman filter. Moreover, an exponential smoother is integrated into the FCS algorithm, leading to improvements in portfolios' performance. These two modifications to the FCS algorithm further enhance the performance of superior fund portfolios, producing an average monthly excess return of up to 1.88 %. [ABSTRACT FROM AUTHOR]

Published
2024
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2. The balance of serum IL-18/IL-37 levels is disrupted during the development of oral squamous cell carcinoma

Author

Ding, Liang, Zhao, Xingxing, Zhu, Nisha, Zhao, Mengxiang, Hu, Qingang, and Ni, Yanhong

Abstract

Growing evidences have demonstrated a pivotal role of chronic inflammation in oral squamous cell carcinoma (OSCC) through the modulation of inflammatory cells and cytokine production. IL-37 is newly discovered anti-inflammatory member of IL-1 family and can bind to IL-18 receptor to inhibit IL-18 (pro-inflammatory member of IL-1 family) function. Investigation on the balance of IL-18/IL-37 would provide new insights into the function of IL-1 family in OSCC. Thus, serum IL-18 and IL-37 levels of OSCC patients (n = 108), leukoplakia patients (n = 40), and healthy donors (n = 36) were collected to analyze the balance of IL-18 and IL-37, and also determine their diagnostic value and prognostic significance in OSCC. The results showed that OSCC patients had high IL-18 and low IL-37 levels in serum and peripheral blood mononuclear cell (PBMC). The ratio of IL-18/IL-37 in serum efficiently distinguished non-cancer individuals from OSCC patients (cut off value: 2.15). Moreover, patients with high IL-18 and low IL-37 were susceptible to develop advanced tumor stage and lymph node metastasis (Odd ratios of IL-18/IL-37 is 4.903 and 12.613, respectively). Meanwhile, higher IL-18/IL-37 ratio could predict shorter overall survival and disease-free survival of OSCC patients, although it was not an independent prognostic factor. We further analyze the correlations of serum IL-18/IL-37 with immunocytes in peripheral blood and found that high IL-18 level was associated with more CD19+B cells, while serum IL-37 seem to be associated with reduced percentage of CD3+CD8+T cells, indicating its balance could change the adaptive immune response. Unexpectedly, we first revealed the different function of IL-18/IL-37 in serum and tumor tissues. High mRNA expression of IL-18 in tumor tissues correlated with low lymph node metastasis rate and low tumor stage, which was contradictory to the pro-tumor role of IL-18 in serum. In conclusion, enhanced ratio of IL-18/IL-37 level in serum could be an efficient biomarker for OSCC. Its balance might regulate CD19+B cells and CD3+CD8+T cells for OSCC progression.

Published
2020
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