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The financial system of production-sharing contracts has more complications in comparison with other oil contracts, especially production participation contracts. The financial system and the conditions governing the payment and repayment of production-sharing contracts can be modeled at various times during the implementation of these contracts, and by using this modeling, the profitability of the plan for the parties of the contract can be evaluated, and an optimal decision can be made based on the results of the modeling In the research literature, the economic analysis of oil production-sharing contracts in the middle stages of contract implementation has not been done or very little has been done from the perspective of the investor. In this paper, economic mathematical modeling of oil production-sharing contracts with the aim of maximizing the investor's internal rate of return is presented. In this model, the data is derived from a real contract that has been delayed for approximately 30 months, as well as payment and repayment forecasts for the next 56 months. To optimize the model, we have simulated monthly payments and repayments were generated by observing their minimum and maximum values in 2000 times and each time, the rate of return was calculated, and the optimal payment and repayment amount was determined. Results specify that if the contract has been delayed, the investor can improve the internal rate of return by managing the timing of payments. [ABSTRACT FROM AUTHOR]

Background: The incidence of colic and the outcomes of colic surgery have not been surveyed in racetracks in Korea. Objectives: This study examined the incidence, mortality, and case fatality of colic and investigated the effects of age and sex after an exploratory celiotomy on the long-term survival rate (return to racing), subsequent racing performance, and career longevity. Methods: The incidence, mortality, and case fatalities of colic were examined over an 11-year period. The records of 40 horses that had undergone a celiotomy, after participating in at least one race and 75 race-matched control horses were analyzed. The racing performance and career length of the horses that returned to racing post-surgery were compared with a control group. Results: The annual incidence, fatality rate of colic, and annual mortality rate at Seoul Racecourse were 6.5, 2.8 per 100 horse-years, and 0.2 deaths cases per 100 horse-years, respectively. Of the 40 horses that underwent colic surgery, 26 (65%) returned to racing. The likelihood of returning to racing decreased with increasing age of the horses, and geldings had a lower probability of returning. While the performance in the five preoperative races between the two groups was not significantly different, a significant decrease in racing performance was observed after the surgery date (p < 0.01). Horses that underwent colic surgery did not show a significant decrease in career length. Conclusions: Surgical treatment for colic at the age of three and four years had a negative impact on the racing performance. On the other hand, there was no significant difference in career longevity between the two groups. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study was to compare the results of arthroscopic isolated Bankart repair (B) with Bankart repair plus Remplissage (B + R) procedure in contact overhead athletes with on-track anterior shoulder instability. Methods: A total of 64 athletes playing basketball, volleyball and handball in elite professional level who underwent arthroscopic isolated Bankart repair (34 patients) or Bankart repair plus Remplissage procedure (30 patients) with the diagnosis of recurrent anterior shoulder instability between 2017 and 2020, were retrospectively reviewed. Radiologically all patients had on-track Hill-Sachs defects and minimal or subcritical glenoid bone loss (< 13.5%). Patients were evaluated using pre- and postoperative pVAS, SANE, ASES, ROWE, WOSI scores and postoperative active ROM assessment. Patients were also asked for the frequency of any subjective apprehension and satisfaction with the surgery in four grades. Results: The mean ages of the groups B and B + R were 26.8 and 26 years (SD = 3.22), respectively; the mean follow-up times were 37.8 and 36.2 months (SD = 11.19). Compared with the preoperative status, there was a statistically significant improvement of all 5 postoperative outcome scores in both groups (P < 0.001). However, significant difference between the improvement of the groups were only found for the SANE (B: 22.3 ± 4.1, B + R: 26.3 ± 4.3; P = 0.0004), ASES (B: 26.1 ± 2.6, B + R: 30.2 ± 3.6; P < 0.001) and ROWE (B: 42 ± 3.7, B + R: 47.7 ± 2.8; P < 0.001) scores in favor of the group B + R. The loss of internal and external rotation of the adducted arm in group B + R was found to be approximately 5 degrees compared to the group B (P < 0.001). More than 80% of group B + R showed no apprehension in sports activities and almost completely returned to pre-injury athletic level, depicting statistically significant improvement compared to group B athletes (P = 0.002 and 0.036, respectively). 3 patients developed re-dislocation after isolated Bankart repair, whereas no re-dislocation occurred in the B + R group. Conclusion: Adding Remplissage procedure to the Bankart repair provided an advantage in terms of both return to sport at preinjury level and the frequency of apprehension sensation during sports activity. Level of evidence: III. [ABSTRACT FROM AUTHOR]

Purpose: Return to preinjury levels of performance (RTP) is the main goal after anterior cruciate ligament reconstruction (ACL‐R) for athletes when ACL graft rupture is a career‐threatening event. The purpose of this study was to elucidate the associated factors for RTP and subsequent ACL injury after ACL‐R using bone‐patellar tendon‐bone (BPTB) or hamstring (HT) autograft in high‐level athletes with a minimum postoperative follow‐up of 24 months. Methods: This retrospective study included 157 patients who had preinjury Tegner activity level of 9 and underwent primary ACL‐R using BPTB (average age, 16.9 years; 35 males and 36 females) or HT (average age, 17.2 years; 49 males and 37 females). The mean follow‐ups were 33.6 months in BPTB and 44.5 months in HT, respectively. The data were obtained based on routine clinical follow‐ups and telephone interviews performed by the surgeon. Multivariate logistic regression analysis was conducted to determine the association of patient variables with RTP and subsequent ACL injury. Results: Ninety‐nine patients (63.1%) were able to RTP. The rate of RTP in BPTB (74.6%) was significantly higher than that of HT (53.5%) (p < 0.05). The overall average timing of RTP after ACL‐R was 10.0 months while that was significantly earlier in BPTB (9.7 months) than in HT (10.5 months) (p < 0.05). Twenty‐three (14.6%) and 21 patients (13.4%) had ACL graft ruptures and ACL injuries in the contralateral knees, respectively. Multivariate analyses showed that BPTB (odds ratio [OR], 2.590; 95% confidence interval [CI], 1.300–5.160; p = 0.007) was associated with a higher potential for RTP after ACL‐R. The incidence of ACL graft rupture after ACL‐R decreased with BPTB (OR, 0.861; 95% CI, 0.770–0.962; p = 0.009). Conclusions: The use of BPTB autograft was associated with a higher rate of RTP and a lower incidence of ACL graft rupture compared to ACL‐R using HT autograft. Level of Evidence: Level IV, retrospective case series. [ABSTRACT FROM AUTHOR]

Introduction: Inside-out and all-inside arthroscopic meniscal repairs are widely performed. However, it remains unclear which method promotes greater clinical outcomes. This study compared inside-out versus all-inside arthroscopic meniscal repair in terms of patient-reported outcome measures (PROMs), failures, return to play, and symptoms. Methods: This systematic review was conducted in accordance with the PRISMA guidelines. Two authors independently performed the literature search by accessing the following databases: PubMed, Google Scholar, and Scopus in February 2023. All clinical studies which investigated the outcomes of all-inside and/or inside-out meniscal repair were considered. Results: Data from 39 studies (1848 patients) were retrieved. The mean follow-up was 36.8 (9 to 120) months. The mean age of the patients was 25.8 ± 7.9 years. 28% (521 of 1848 patients) were women. No difference was found in PROMs: Tegner Activity Scale (P = 0.4), Lysholm score (P = 0.2), and International Knee Document Committee score (P = 0.4) among patients undergoing meniscal repair with all inside or inside-out techniques. All-inside repairs showed a greater rate of re-injury (P = 0.009) but also a greater rate of return to play at the pre-injury level (P = 0.0001). No difference was found in failures (P = 0.7), chronic pain (P = 0.05), reoperation (P = 0.1) between the two techniques. No difference was found in the rate of return to play (P = 0.5) and to daily activities (P = 0.1) between the two techniques. Conclusion: Arthroscopic all-inside meniscal repair may be of special interest in patients with a particular interest in a fast return to sport, while, for less demanding patients, the inside-out suture technique may be recommended. High-quality comparative trials are required to validate these results in a clinical setting. Level of Evidence: Level III, systematic review. [ABSTRACT FROM AUTHOR]

The aim of this research is to determine the effect of Non-Performing Loans (NPL) on Earning Per Share (EPS), Return on Investment (ROI), and Rate of Return (ROR) in stateowned banks listed on the Indonesia Stock Exchange (BEI) for the period 2013- 2022. Researchers used quantitative research methods with samples in the research, namely four state-owned banks listed on the BE, using SEM (Structural Equation Modeling) and the Partial Least Square (PLS) approach as methods in the research process. Research findings show that Non Performing Loans (NPL) have a significant effect on Earning Per Share (EPS), Non Performing Loans (NPL) have a significant effect on Return On Investment (ROI), and Non Performing Loans (NPL) have a significant effect on the Rate of Return ( ROR) BUMN Bank for the 2013-2022 period with testing using a significance level of 5%. Apart from that, research findings also show that the Covid pandemic has had a negative impact on the NPL, EPS, ROI and ROR ratios as evidenced by the ratio values being low and decreasing very significantly in the 2020-2021 period. Of the three ratios used, the Return On Investment (ROI) ratio is the ratio that is most influenced by NPL (Non Performing Loan), and conversely the one that is least influenced by NPL (Non Performing Loan) is the Rate of Return (ROR) ratio. [ABSTRACT FROM AUTHOR]

To facilitate return to work (RTW) in patients with stroke, a health and employment support (HES) program was started at Rosai hospitals in Japan. This study aimed to determine the rate of RTW in patients with stroke under this support program. We collected demographic and clinical data of patients with stroke from the implementation reports of the HES program. The program provided coordinated dual support, such as acute medical treatments, and stroke and vocational rehabilitation on the medical side, and management and support on the workplace side. The primary endpoint was RTW. Successful and unsuccessful RTW were examined using the χ2 test. The RTW rate curves were analyzed using the Kaplan–Meier method. We enrolled 483 patients; 355 (73%) and 128 (27%) patients had successful and unsuccessful RTW, respectively. Stroke types, neurological findings, and activities of daily living were significant factors for RTW. The Kaplan–Meier method revealed that left hemiplegia, right hemiplegia, and neuropsychological deficits, except for combined disability (hemiplegia with neuropsychological deficits), had similar RTW curves with an RTW rate of > 70%. [ABSTRACT FROM AUTHOR]

The ongoing demographic change in most developed countries consists of two coinciding independent developments that differ in structure and persistence: A slow, monotonic and (presumably) permanent longevity effect caused by an increasing life expectancy; and a more rapidly changing, non-monotonic and less permanent cohort effect caused by fluctuations in the size of cohorts. This paper shows the longevity effect has a positive impact on the rates of return households generate within a pay-as-you-go (PAYG) pension system. The cohort effect, by contrast, results in winners and losers in PAYG systems. The paper additionally shows that the type of PAYG pension system alters the results significantly. Taking the remarkable demographic change in Germany as an example, a large-scale overlapping generation model quantifies rates of return within the PAYG pension system for every cohort. The results show that the two effects combined cause return differentials of almost 1.3 percentage points between generations. [ABSTRACT FROM AUTHOR]

A portfolio selection model with return as triangular intuitionistic fuzzy number is developed in this study to assess and select portfolios on China Stock Exchange. Although the portfolio selection has been widely investigated, and most studies have regarded return and risk as the main decisive criteria, there are many uncertainties in the financial market, such as social, political and human psychological factors, which makes it difficult for us to describe the risks in line with empirical evidence. To fill this gap, first, a literature review was conducted to clarify the current situation and shortcomings of portfolio selection. Second, the triangular intuitionistic fuzzy number was used to fuzzify the coefficients of the objective function and the constraints in the portfolio model. Third, the triangular intuitionistic fuzzy number model was transformed into a linear programming model by using the selected exact ranking function, and the model was solved by MATLAB. Finally, the historical monthly returns of 10 stocks in China's Stock Exchange from December 2017 to November 2020, lasting 36 months, were selected to demonstrate the model. The results indicate that the portfolio selection model with triangular intuitionistic fuzzy number can better meet the uncertainty of the real securities market, and more reasonable investment decision guidance can be provided for investors. Besides, the limitations of this study are pointed out, and implications and directions for future research are discussed. [ABSTRACT FROM AUTHOR]

Aims, indebtedness, quality of assets and capital adequacy), and indicators of the dependent variable represented by the rate of return on the share. The research was applied in the Iraqi banking sector on a sample consisting of (12) banks for the period from (2011-2020), and a set of methods and programs were used, including the ((EXCEL) program for financial analysis And the ((Panel data) program to test the effect relationship, and after analyzing the research data and testing its hypotheses, a set of results were reached, most notably (the presence of a statistically significant effect of financial health with its indicators on the rate of return per share for private banks listed in the Iraq Stock Exchange), as the results show Financial analysis The validity of the main hypothesis that the research sample banks enjoy sufficient financial health to achieve an acceptable rate of return on the share, and based on the results reached by the research presented a number of recommendations, the most prominent of which was providing adequate liquidity rates by converting assets into cash and issuing bonds and loans and this It increases confidence in banks when it comes to depositors' withdrawals, and these banks also carry out investment operations. They must first verify these investments, are they profitable? H and get accustomed to these banks with profits, to address the risks that these banks may be exposed to and because of the importance of this in enhancing the financial health of banks and its positive impact on the rate of return on the share. [ABSTRACT FROM AUTHOR]

Resilient systems can absorb and recover from disturbances and adapt to changed conditions to maintain system functionality. Uncertainty about the meaning of resilience and the attributes it requires has limited the application of resilience thinking in biosecurity. However, considering increasing pressures from trade, travel and climate change, enhancing the resilience of biosecurity systems is likely to be critical to reduce the impacts of pests and diseases on economies, societies and environments.Here we provide a pathway for resilience thinking into risk management. Based on a literature review we discuss its benefits, develop an operational definition of resilience for biosecurity systems and identify the fundamental attributes that support resilience.We show that resilient biosecurity systems can anticipate disturbances, cope with low‐probability high‐impact events and adapt to new and changing circumstances. The status of biosecurity system resilience can be measured using evaluative rubrics, which give decision‐makers an overall performance rating and insight into system weaknesses. General measures, objective functions and simulation approaches are potential avenues for quantifying biosecurity system resilience in practice.Policy implications: Adopting resilience thinking into biosecurity risk management has the potential to reduce the damages caused by invading pests and diseases. If resilience thinking is used alongside traditional risk analysis, then regulators can more effectively address and prepare for the systemic consequences of high‐impact incursions and outbreaks of pests and diseases, which are unpredictable, low‐probability events. However, the design of resilience‐enhancing measures should be guided by economic principles and consider the rate of return of these measures over time. [ABSTRACT FROM AUTHOR]

One of the most attractive indexes to select the best investment decision is internal rate of return (IRR) measure, but it has some significant faults both in practice and theoretically. Multiple attempts have been made to resolve the IRR challenges, but none of them are perfect. This article presents the Modified Simple Average Internal Rate of Return criterion as a profitability index for calculating a unique rate of return for all various types of cash flow streams so that obtained results are consistent with the net present value method in accept/reject decisions. The presented method is simple to compute and is capable of resolving all known IRR defects including when the resulting rate is greater than −1. [ABSTRACT FROM AUTHOR]

Individualized case management services that identify and provide support for treatment, housing, and employment may improve opportunities for success for those housed in community residential facilities (CRFs) upon release, particularly when evaluated against the goals of reducing the length of stay in the CRF and reducing the rate of return to prison among a targeted parole population with severe mental health needs and moderate-to-high criminogenic risk. Following an experimental design with random assignment design, this study evaluated 349 participants who were eligible for specialized case management services while housed and released from a CRF between January 2018 and June 2019. Findings reveal that participants who received specialized service referrals significantly decreased their length of stay in the CRF compared to the control group. Successful program completion was further related to a reduced length of stay and a significant reduction in the likelihood of returning to prison. [ABSTRACT FROM AUTHOR]

To solve the problem of yield calculation in complex investment scenarios, a time-cost double-weighted rate of return calculation method based on SEA grid is proposed, and its effectiveness is verified by comparing with traditional methods and researching the quantitative evaluation and analysis method of user investment based on structured data. To solve the above problems, a data-heterogeneous federated learning method based on user investment analysis FedPSG is proposed, which changes the data form transmitted from the client to the server from model parameters to model scores, and only a small number of clients need to upload model parameters to the server in each round of training, thereby reducing communication costs. At the same time, a model retraining strategy is proposed, which uses server data to train the global model for second iteration, and further improves the model performance by alleviating the impact of data heterogeneity on federated learning. The method of event dimension analysis of user investment is designed, and a credibility index is proposed to evaluate the analysis results. Experiments show that by combining event data, it can effectively provide users with event factors in the fluctuation of investment profit and loss, and help users better analyze their own investments. [ABSTRACT FROM AUTHOR]

In this study, we introduce new estimation methods for the required rate of returns on equity of private and public companies using the stochastic dividend discount model (DDM). To estimate the required rate of return on equity, we use the maximum likelihood method, the Bayesian method, and the Kalman filtering. We apply the model to a set of firms from the S&P 500 index using historical dividend and price data over a 32-year period. Overall, the suggested methods can be used to estimate the required rate of returns. [ABSTRACT FROM AUTHOR]

Purpose: Femoroacetabular impingement syndrome (FAIS) is a known cause of impaired sports performance in athletes and the relationship between FAIS and soccer players has previously been described. Hip arthroscopy is a viable treatment option that can facilitate athletes' return to sport (RTS). The aim of this study was to evaluate the RTS and return to performance (RTP) with objective measurements in high-level soccer players after hip arthroscopy for FAIS. Method: Soccer players, with a hip sports activity scale (HSAS) level of 7 or 8 before symptom onset and undergoing hip arthroscopy for FAIS between 2011 and 2019 were identified in the Gothenburg hip arthroscopic registry. A total of 83 high-level soccer players, with a mean age of 23.9 (SD 4.4) years at surgery, were included. To verify the activity level and further stratify players as elite or sub-elite, player statistics were collected from soccer-specific scout webpages and the Swedish national soccer association. The return to sport was defined as return to one game of soccer. Return to performance was defined as playing at the same level, or higher, and participating in at least 80% of the number of games played the season before symptom onset or the season before surgery either the first or second season after hip arthroscopy. Results: In total, 71 (85.5%, 95% confidence interval (CI) 76.1–92.3%) of the players returned to sport the first or second season after surgery. Compared to the season before symptom onset, 31 (37.3%, 95% CI 27.0–48.7%) players returned to performance the first or second season after surgery, and 32 (38.6%, 95% CI 28.1–49.9%) players returned to performance the first or second season after surgery compared to the season before surgery. Conclusion: A high rate of elite and sub-elite soccer players return to soccer after hip arthroscopy for FAIS. However, less than half of the players RTP when evaluating performance through level of play and number of games played. Level of evidence: Level IV. [ABSTRACT FROM AUTHOR]

Abstract: This research aims to know the feasibility and rate of return of education investment at higher education. The design of this research uses a descriptive-comparative with a quantitative approach. The population consists of 491 respondents at the Department Education Administration, Faculty of Education, State University of Malang. The sample was determined 123 respondents use a purposive random sampling technique. Data were collected used questionnaires in Google Form and analyzed used descriptive-comparative and rate of return techniques. This research shows that the alumni's investment in this Department can be said feasible. Besides, the alumni’s rate of return has differences based on study period and gender. Abstrak: Penelitian ini ditujukan untuk mengetahui kelayakan dan tingkat pengembalian investasi pendidikan alumni Program Studi Administrasi Pendidikan Fakultas Ilmu Pendidikan Universitas Negeri Malang. Rancangan penelitian ini menggunakan deskriptif-komparatif dengan pendekatan kuantitatif. Populasi terdiri dari 491 orang dan ditetapkan sampel sejumlah 123 orang dengan teknik purposive random sampling. Pengumpulan data menggunakan kuesioner dalam bentuk Google Form, dan dianalisis dengan teknik deskriptif-komparatif serta rate of return. Hasil penelitian ini menunjukkan, bahwa investasi yang dilakukan alumni di Prodi Administrasi Pendidikan FIP UM dapat dikatakan layak. Di samping itu, tingkat pengembalian investasi alumni berbeda berdasarkan masa studi dan jenis kelamin.

We conjecture that mutual funds with large shares of outstanding bond issues are more inclined to internalize the negative price spillovers of fire sales and thus sell their holdings in those issues, to a lower extent, when they experience redemptions. We provide evidence consistent with this conjecture and further show that ownership concentration limits bonds' exposures to flow-induced fire sales. We exploit variation in negative spillovers arising from the Fed's SMCCF to confirm the economic mechanism and explore our findings' implications for fund performance and fire-sale spillovers to other funds. [ABSTRACT FROM AUTHOR]

We analyze how interdependencies in financial networks can lead to self-fulfilling insolvencies and multiple possible equilibrium outcomes. Multiplicity arises if a certain type of dependency cycle exists in the network. We show that finding the cheapest bailout policy that prevents self-fulfilling insolvencies is computationally hard, but that the optimal policy has intuitive features in some typical network structures. Leveraging indirect benefits ensures systemic solvency at a cost that never exceeds half of the overall shortfall. In core-periphery networks, it is optimal to bail out peripheral banks first as opposed to core banks. [ABSTRACT FROM AUTHOR]

Direct-to-consumer firms increasingly believe that influencer marketing is an effective option for seeding. However, the current managerially relevant question for direct-to-consumer firms of whether to target low- or high-followership influencers to generate immediate revenue is still unresolved. In this article, the authors' goal is to answer this question by considering for the first time the whole influencer-marketing funnel, that is, from followers on user-generated content networks (e.g., on Instagram), to reached followers, to engagement, to actual revenue, while accounting for the cost of paid endorsements. The authors find that low-followership targeting outperforms high-followership targeting by order of magnitude across three performance (return on investment) metrics. A mediation analysis reveals that engagement can explain the negative relationship between the influencer followership levels and return on investment. This is in line with the rationale based on social capital theory that with higher followership levels of an influencer, the engagement between an influencer and their followers decreases. These two findings are derived from secondary sales data of 1,881,533 purchases and results of three full-fledged field studies with hundreds of paid influencer endorsements, establishing the robustness of the findings. [ABSTRACT FROM AUTHOR]

We present a method for determining whether errors in expectations explain asset pricing puzzles without imposing assumptions about the error mechanism. Using accounting identities and survey forecasts, we find that errors in expected long-term inflation explain price variation, return predictability, and the rejection of the expectations hypothesis for aggregate stock and bond markets. Errors in short-term (long-term) nominal earnings growth expectations explain (do not explain) stock price variation and return predictability. The relevant errors are consistent with mistakes about the persistence of forecasted variables and the response to surprises. A simple framework based on fundamental extrapolation successfully replicates these findings. (JEL G40, G12, G14, E71) [ABSTRACT FROM AUTHOR]

In actuarial science related to pension systems, it is widely assumed that the rate at which the reserves cover the payment of annuities (calculated for a given number of lives) is equal to the expected rate of return of the portfolios in which such reserves are invested. Given this assumption, pension fund managers may take greater risks to realize higher returns and subsequently reduce their pension liabilities. This study demonstrates that the discount rate used to calculate a two-life annuity and the expected return on the portfolio are not necessarily equal. A stochastic-based model is used to determine the proper discount rate for calculating the two-life annuity. The model includes fluctuations of both the interest rate and the payments made by the annuity. In general, this study contributes to the stability of pension systems by determining the appropriate discount rate when computing required actuarial reserves or the portfolio's required rate of return given a reserve. [ABSTRACT FROM AUTHOR]

With increasing profit in securities investment, portfolio analysis has become a major topic for investors. We propose a fuzzy portfolio model as it is an efficient portfolio selection method associated with uncertain or vague returns. Although many researchers focus on studying the fuzzy portfolio model, they do not consider excess investment based on the selected guaranteed rates of return for some securities. To manage such an investment, a new fuzzy return function—where some securities are considered for excess investment based on the selected guaranteed rate of return—is introduced to improve the possibilistic mean and variance values, leading to a revised fuzzy portfolio model. Accordingly, to set certain securities for excess investment in the fuzzy return function, efficient portfolios for each selected guaranteed rate of return can be obtained under different levels of investment risk. Finally, we present a numerical example of a portfolio selection problem to illustrate the proposed model. This example shows that the expected rate of return of a lower guaranteed rate of return is larger than that of a higher guaranteed rate of return under different levels of investment risks. The portfolio analysis with some guaranteed rate of returns can provide more invested risk selection. [ABSTRACT FROM AUTHOR]

Purpose: Cruciate-retaining and posterior-stabilised implant designs are available for primary total knee arthroplasty. However, whether the implant design is associated with a difference in the level of activity still remains unclear. This clinical trial compared posterior-stabilised and cruciate-retaining implants in sport-related patient-reported outcome measures, range of motion, rate of return to sport, and weekly time dedicated to sport in active adults. It was also hypothesised that in young and active patients both implants lead to a similar rate of return to sport in terms of hours per week, type of sport, and joint mobility. Methods: All patients were evaluated preoperatively and for a minimum of 36 months follow-up. The University of California Los Angeles activity scores, High-Activity Arthroplasty Score, and Visual Analogue Scale were administered preoperatively and at the last follow-up. The range of motion was investigated at admission and the last follow-up. Data concerning the hours per week dedicated to sports and the type of sport practiced were also collected at admission and at the last follow-up. The Kaplan–Meier Curve was performed to compare implant survivorship. Results: Data from 227 procedures (cruciate-retaining: 109, posterior-stabilised: 118) were prospectively collected. At the last follow-up, no difference was reported in The University of California Los Angeles activity scores (p = 0.6), High-Activity Arthroplasty Score (p = 0.1), Visual Analogue Scale (p = 0.9), flexion (p = 0.7) and extension (p = 0.4). No difference was found in the rate of return (p = 0.1) and weekly hours dedicated to sport (p = 0.3). The Kaplan–Meier curve evidenced no statistically significant difference in implant survivorship (p = 0.6). Conclusions: At approximately five years of follow-up, no difference was reported between cruciate-retaining and posterior-stabilised implants in active adults in sport-related patient-reported outcomes measures, range of motion, pain, weekly time dedicated to sport, rate of return to sport, and implant survivorship. Level of evidence: Level II, prospective study. [ABSTRACT FROM AUTHOR]

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The board of directors is an important corporate governance mechanism as it is responsible for the operation of a firm and protects the value of the investment made by investors in the firm. Therefore, board members should be supplied with an appropriate incentive to properly discharge their duties. One of the most important incentive mechanisms is remuneration. This study aims to reveal the effect of board members' remuneration on the firm performance. Regression analysis was performed to test the hypotheses. 210 firm-year observations obtained from 76 non-financial firms traded in the BIST 100 between the 2018-2020 period were used. The indicators of firm performance return on assets, return on equity, and earnings per share. As a consequence of the study, the relationship between board members' remuneration and firm performance was found to be positive and statistically significant. These results show that the board members' remuneration is a strong incentive used to increase the firm performance and that a suitable remuneration policy should be established for directors. [ABSTRACT FROM AUTHOR]

The capital structure is briefly expressed as the resource composition of companies. Resources are generally divided into two categories: debt and equity. Analyzing effects of changes in composition of debt and equity on the firm's value and cost of capital forms the basis for capital structure decisions. Furthermore, capital structure decisions are of great significance in analyzing the optimal capital structure that will maximize the profitability and the firm's value. This study aims to investigate whether the capital structures of non-financial sector companies listed in the relevant indices of E7 and G7 countries between 2016 and 2022 affect their profitability. In the study, which applies the Panel Data Regression Analysis method, total assets, profitability, and return on equity ratios are used as profitability indicators, while total debt/total assets and total debt/equity are selected as representative ratios for capital structure. In addition, variables such as asset size, fixed tangible assets/total assets ratio, current ratio, and business risk are used as control variables. The research results generally indicate a significant and inverse relationship between ROA and ROE variables and capital structure ratios for E7 and G7 countries. [ABSTRACT FROM AUTHOR]

The article focuses on the evaluation of different methodologies for assessing the return on investment (ROI) of higher education using data from the College Scorecard (CSC). It analyzes five distinct CSC-based systems that measure educational ROI by balancing college costs with graduates' earnings in various ways. It highlights how these methodologies differ in their approach to calculating ROI, such as the Price-to-Earnings Premium (PEP), median earnings benchmarks, and net present value.

Bioregenerative Life Support Systems (BLSS) are a key facet of plans for long term habitats on other celestial bodies. With the Artemis program headed to the moon and SpaceX pushing towards Mars the roadmap is about 10–20 years. Therefore it is vital to consider how BLSS will work with the traditional physicochemical Environmental Control and Life Support Systems (ECLSS). Biological systems are complicated. Their inputs and outputs cannot be turned on and off the way physicochemical systems can. Therefore the accurate monitoring and prediction of these systems is fundamental to integrating the BLSS into the life support system as a whole. This paper will summarize the history of BLSS research, the system requirements for integrating a BLSS into the ECLSS, and the research needed to meet these requirements. As the world looks towards the future of humans living on other celestial bodies, there is a lot of work to do to support keeping them safe and healthy. Bioregenerative Life Support Systems have potential to provide massive support, if they are effectively integrated with the physicochemical systems. • Explores the systems requirements of physicochemical and bioregenerative systems. • Provides updated equivalent system mass estimates using LED lighting technologies. • Calculates return on investment time for bioregenerative food production. • Suggests future research directions for bioregenerative life support systems (BLSS). [ABSTRACT FROM AUTHOR]

The main purpose of this research was to assess how the profitability and liquidity of the company "Central de Cooperativas Mineras Rinconada y Lunar de Oro Limitada" were impacted by COVID-19 between the periods 2018 and 2022. This study is classified as basic and explanatory in nature, and it is non-experimental. For data collection, the documentation technique and observation were used, and the company's Balance Sheet and Income Statement were analyzed. The results indicate that, based on the analysis of profitability through Return on Assets (ROA), in 2019, it showed a negative value (-0.21). In contrast, in 2020, it recorded a value of 78.02. On the other hand, the analysis of Return on Equity (ROE) revealed a value of -0.14 in 2019, while in 2020, a significant value was recorded in the ratios (65.01). Regarding the liquidity of the mining company, the Current Ratio in 2019 was 15.46, and in 2020, it was 0.78. Furthermore, the Quick Ratio values were 15.46 in 2019 and 0.78 in 2020. Conclusions: the mining company experienced a significant decline in liquidity; however, it managed to maintain strong economic and financial profitability. Although a company may be profitable, the lack of liquidity represents a significant risk. [ABSTRACT FROM AUTHOR]

Purpose - Today, due to the breadth, diversity and multiplicity of investment projects, decision makers and investors are faced with the issue of choosing the most profitable project. The economic rate of return (ERR) index is one of the proper indices that has been presented to determine the profitability of the projects. However, the ERR index has important shortcomings that have led to serious limitations in its use. In this regard, this paper introduces a new measure called the reliable economic rate of return (RERR), which has originated from ERR measure, but it has resolved the drawbacks of ERR index. On the other hand, this paper proposes a new solution by considering the values of the cash flow in terms of fuzzy numbers. After calculating the fuzzy economic rate of return, the profitability potentiality degree of the investment projects can be determined as well as their reliability based on the net present value (NPV) method. Design/methodology/approach - This paper proves that if we equate the initial cash flow of investment projects with the sum of the negative values of the relevant cash flow stream, then the RERR value would be greater than '-1'. In this regard, this paper proposes a solution to modify the initial and final values of the investment cash flow stream, merely without changing middle values. Thereby, the NPV of the modified cash flow does not change. On the other hand, it is sometimes difficult to estimate the values of cash flows as a crisp number, which may lead to a wrong decision in accepting or rejecting projects. For this purpose, this paper considers the values of cash flow stream as fuzzy numbers and describes a solution for calculating the fuzzy RERR using the α-cut method and the RERR index. The proposed solution is compatible with the NPV method and also has fewer calculations than the other methods. This paper also proposes a method that calculates the profitability potentiality degree of projects and provides more comprehensive information to the decision makers by examining the intervals obtained from cutting the fuzzy values of the projects and presenting a new and reliable solution. Findings - Using the @RISK software, it was found that the estimation of fuzzy return rate using RERR index and α-cut method is very close to the simulation result. It confirms the appropriate accuracy of the proposed solution. Also, the results obtained from the software in determining the profitability of projects indicated that the proposed solution is more accurate than the methods of 'comparison of the expected intervals' and 'strict exceedance possibility'. It is also fully compatible with the NPV method. Research limitations/implications - In this research the market rate is assumed constant, while, in practice it can vary over the periods. Defining the market rate as an inconstant parameter, using the robust optimization approach and investigating the subject of this paper under other uncertainty environments are future study suggestions to both researchers and practitioners. Practical implications - One of the most important applications of this study is in risky projects wherein estimating the values of cash flow stream as a crisp number is difficult. The results of this paper help decision makers in reducing risk and determining the project profitability. It is worth mentioning that the solution proposed in this paper can be used for all projects with any cash flow stream value. Social implications - Failure to make the correct decision regarding the acceptance or rejection of the projects could have major negative consequences for the companies, organizations and even society. This paper helps decision makers, investors and organizations to determine the projects profitability that could benefit organizations and society. Originality/value - This paper proposes the RERR measure as a profitability index such with several favorable properties: (ⅰ) it exists and is unique, (ⅱ) it is NPV-consistent in accepting/rejecting decisions, (ⅲ) it provides values greater than '-1', (ⅳ) it takes into account all of the project's outflows which may be regarded by some practitioners as an appropriate indicator of the overall investment. Furthermore, this paper proposes an appropriate method for calculating the fuzzy RERR and a new method for determining the profitability potentiality degree of the investment projects based on the NPV method. [ABSTRACT FROM AUTHOR]

Antibiotics are considered one of the most important contributions to clinical medicine in the last century. Due to the use and overuse of these drugs, there have been increasing frequencies of infections with resistant pathogens. One form of resistance, heteroresistance, is particularly problematic; pathogens appear sensitive to a drug by common susceptibility tests. However, upon exposure to the antibiotic, resistance rapidly ascends, and treatment fails. To quantitatively explore the processes contributing to the emergence and ascent of resistance during treatment and the waning of resistance following cessation of treatment, we develop two distinct mathematical and computer-simulation models of heteroresistance. In our analysis of the properties of these models, we consider the factors that determine the response to antibiotic-mediated selection. In one model, heteroresistance is progressive, with each resistant state sequentially generating a higher resistance level. In the other model, heteroresistance is non-progressive, with a susceptible population directly generating populations with different resistance levels. The conditions where resistance will ascend in the progressive model are narrower than those of the non-progressive model. The rates of reversion from the resistant to the sensitive states are critically dependent on the transition rates and the fitness cost of resistance. Our results demonstrate that the standard test used to identify heteroresistance is insufficient. The predictions of our models are consistent with empirical results. Our results demand a reevaluation of the definition and criteria employed to identify heteroresistance. We recommend that the definition of heteroresistance should include a consideration of the rate of return to susceptibility. [ABSTRACT FROM AUTHOR]

The number of short campaigns by hedge funds has dramatically increased over the last two decades. Nearly 80% of campaigns are undertaken by activist hedge funds, particularly those that employ hostile tactics in their long campaigns. Short campaigns are associated with negative abnormal returns of –7%, with aggregate valuation effects similar in magnitude to the gains from long activism campaigns. In contrast to long campaigns, public communication is a critical component of short campaigns. We do not find evidence that such communication is manipulative. Overall, our analysis highlights the importance of short campaigns for understanding the economic impact of activist hedge funds. [ABSTRACT FROM AUTHOR]

Analyzing 48 foreign exchange (FX) rates and 1.2 million FX-related news articles over a 35-year period, using digital textual analysis, we find that a currency reversal investment strategy that buys (sells) currencies with low (high) media sentiment offers strong positive and statistically significant returns and Sharpe ratios. The results are robust and the strategy adds value over other currency premia determinants. Analysts' forecasts systematically mispredict the reversal strategy. This is the first article to show that price reversals based on media sentiment are a well-defined feature of the FX market. [ABSTRACT FROM AUTHOR]

The research deals with the topic of the analysis of venture capital funds’ rate of return on venture activity. The discovered venture capital funds have such a peculiarity as the involved investors of various types and concentrated financial resources, which lead to advantages in investing. Based on the analyzed scientific approaches to the evaluation of income rate met by various economic entities the paper determines the optimal indicators of such an analysis developed due to the article research. They are supposed to improve significantly the process of making decisions on venture capital investments. The author suggests to evaluate venture capital funds rate of return on venture activity by means of the basic four indicators usually employed for investment efficiency definition: net profit, internal rate of return, return period and return index. The research presents the examination of rates of return on venture activity of venture capital funds being controlled by a single asset management company. Thus, one can estimate not only the rate of return on venture activity, but also the efficiency of control taken by an asset management company.

We evaluate the Opportunity Zones provision of the Tax Cuts and Jobs Act, focusing on its targeting and effects on investment and resident outcomes. The policy allowed substantial discretion for state governors to designate Opportunity Zones that were not necessarily the most distressed, though we find that in aggregate their ultimate selections were still somewhat well-targeted. However, we show that the policy is insufficient to encourage investment with a significantly below-market rate of return and provides the largest tax benefits to investment that would have occurred regardless of the policy. Consistent with these features of the policy's design, a substantial amount of Opportunity Zone investment has been made, including in many lower-income areas. However, it appears that much of the investment would have occurred anyway, and the evidence to date mostly points to limited effects on resident wellbeing. [ABSTRACT FROM AUTHOR]

Oil refineries have become increasingly more efficient over time. Therefore, huge efforts are being made to invest in better processes and technologies that save energy and maximize the production of high-value products, particularly, gasoline. In this study, two scenarios are proposed to upgrade the Sarir Oil Refinery for increasing its capacity from 10,000 BPD to 120,000 BPD by adding new units of vacuum distillation and Delayed Coking or Fluid Catalytic Cracking (FCC) unit. The production rates of all units are obtained through material balance calculations. Finally, an economical evaluation is carried out to determine if the proposed projects meet the profitability criteria of the refinery and to decide which refinery scenario is techno-economically feasible and maximizes the production of gasoline more than the other. The observational results revealed that the best refinery scenario is the one that uses atmospheric distillation and FCC units as it has less payout time (3.6 years), higher internal rate of return (110%) and higher production of gasoline. [ABSTRACT FROM AUTHOR]

Enhancing legal certainty is one of the main values that are sought in the investor–state dispute settlement system. The importance of legal certainty is strengthened in the case of renewable energy investments, which are in the global public interest, long-term and capital-intensive up-front. The first part of the paper presents the importance of legal certainty in investment arbitration in general, its limits and its importance in the context of the green energy transition. In addition, it addresses the special features of renewable energy investments. The second part of the paper analyses from the perspective of legal certainty the Spanish renewable energy cases initiated under the Energy Charter Treaty (ECT), which deal with similar factual and legal issues. In this respect, the paper presents the varying weight tribunals gave to the important facts that led them further to conclude whether Spain breached the fair and equitable treatment standard, and if so, whether the investor was entitled to full compensation or a reasonable rate of return. In addition, it presents different approaches to perceiving the stability provision of Article 10 (1) of the ECT. The paper concludes that it remains uncertain to what extent RE investors will be protected under the ECT's stability condition in the case of fundamental or small-scale changes. Although one group of arbitrators may argue that the fundamental change triggers per se a breach of a stability condition, others may argue that for the breach to be established, the host state's measures must be arbitrary, unreasonable or discriminatory. Moreover, the threat to legal certainty might not only be the vague provisions of the ECT but also the significant discretion tribunals have towards the interpretation of facts, leading to different outcomes. Indeed, it is at the discretion of arbitrators to consider whether the timing of investment, presence of evidence indicating possible regulatory changes, and the reasonable rate of return prescribed in Spain's domestic law will be relevant or irrelevant. [ABSTRACT FROM AUTHOR]

The value of the firm depends upon its expected Financial Forecasting. The rate used to discount earnings stream it's the firm's required rate of return or the cost of capital. Thus, the capital structure and Financial Forecasting decision can affect the value of the firm either by changing the expected earnings of the firm, but it can affect the reside earnings of the shareholders. The effect of leverage on the cost of capital is not very clear. Conflicting opinions have been expressed on this issue. In fact, this issue is one of the most continuous areas in the theory of finance, and perhaps more theoretical and empirical work has been done on this subject than any other. [ABSTRACT FROM AUTHOR]

The valuation of Goodwill (GW) has remained one of the several critical issues in financial analysis. This aspect is particularly important for mergers and acquisitions due to the significance of intangible assets. This study delves into the capitalization method of super profit (CMSP), a prominent technique for GW valuation, enhanced by the integration of statistical tools. Assessing a company's excess profits over its average return on tangible assets is part of the CMSP. Finding the variables that have a significant impact on GW valuation, such as average profit, capital employed, and rate of return, is the main goal of this research. These issues are thoroughly investigated through statistical analysis to give stakeholders useful information for well-informed decision-making. Additionally, the study seeks to identify the external elements influencing this process as well as the internal aspects influencing GW valuation. Regression analysis, correlation matrices, response analysis and ANOVA are used to improve GW assessment and comprehension of the complex relationships between different factors. [ABSTRACT FROM AUTHOR]

This study presents a hybrid multicriteria decision-making approach for evaluating stocks in the Saudi Stock Market. The objective is to provide investors and stakeholders with a robust evaluation methodology to inform their investment decisions. With a market value of USD 2.89 trillion dollars in September 2022, the Saudi Stock Market is of significant importance for the country's economy. However, navigating the complexities of stock market performance poses investment challenges. This study employs the best–worst method and the technique for order preference by similarity to identify an ideal solution to address these challenges. Utilizing data from the Saudi Stock Market (Tadawul), this study evaluates stock performance based on financial criteria, including return on equity, return on assets, net profit margin, and asset turnover. The findings reveal valuable insights, particularly in the banking sector, which exhibited the highest net profit margin ratios among sectors. The hybrid multicriteria decision-making-based approach enhances investment decisions. This research provides a foundation for future investigations, facilitating a deeper exploration and analysis of additional aspects of the Saudi Stock Market's performance. The developed methodology and findings have implications for investors and stakeholders, aiding their investment decisions and maximizing returns. [ABSTRACT FROM AUTHOR]

This article discusses the main drawback of the Internal Rate of return (IRR): the implicit assumptions regarding the finance and reinvestment rates. After an introduction to the concept of IRR, the concept of Modified Internal Rate of Return (MIRR) is introduced. The MIRR addresses the main drawback of the IRR method by incorporating explicit assumptions about the finance and reinvestment rates. However, the MIRR method also has drawbacks that are addressed and eliminated by the Adjusted Modified Internal Rate of Return (AMIRR). The use of the AMIRR concept in asset management and in historical return measurement, is new, but it is a common method in investment appraisal outside the asset management, e.g., in the appraisal of industrial projects. In a learn-fromother-business sense, the AMIRR concept is an extension of historical return measurement and, in particular, the measurement of a money-weighted rate of returns. [ABSTRACT FROM AUTHOR]

Background: The purpose of this study was to systematically review the rate and timing of return to play in overhead athletes following operative management of anterior shoulder instability. Methods: A systematic literature search based on PRISMA guidelines, utilizing the EMBASE, MEDLINE, and The Cochrane Library Databases. Eligible for inclusion were clinical studies reporting on return to play among overhead athletes following arthroscopic Bankart repair, open Latarjet procedure or Remplissage procedure. Results: There are 23 studies included with 961 patients. Among those undergoing arthroscopic Bankart repair, the rate of return to play was 86.2%, with 70.6% returning to the same level of play and the mean time to return to play was 7.1 months. Among those undergoing an open Latarjet procedure, the rate of return to play was 80.9%, with 77.7% returning to the same level of play and the mean time to return to play was 5.1 months. Among those undergoing a Remplissage procedure, the rate of return to play was 70.6%, with 70.0% returning to the same level of play or mean time to return to play. Discussion: Overall, there were high rates of return to play following operative management of anterior shoulder instability in overhead athletes. [ABSTRACT FROM AUTHOR]

This study analyzes the impact of economic and spatial factors on the economic return on Korean road projects, using meta-regression models and Monte Carlo simulation. This paper finds that the internal rate of return (IRR) is negatively affected by the distance and land acquisition cost (LAC) in urban areas while it is positively related to the population density, ratio of manufacturing workforce to total workforce, and LAC in rural areas. In addition, net benefits can be generated if a road length is less than 5 km. Finally, the IRR tends to be highly sensitive to the population density. [ABSTRACT FROM AUTHOR]

Undertaking a pharmacy education is an investment in human capital. Candidates trade off present versus future costs and benefits. They make this investment with the expectation of earning enough income throughout their worklives to make their undertaking financially worthwhile. Whether or not this occurs is determined by the rate of return. The aim of the current study was to construct a theoretical model to estimate the rate of return to a pharmacy education investment. Specifications for model assumptions, inputs, and outputs are discussed. The outputs are the rates of return, the inputs are the costs and benefits of a pharmacy education, and the assumptions illustrate the circumstances of the individual or group for whom the model is built. The rate of return is the annual percentage that equates the streams of benefits and costs over the investment span. The higher the value of the rate of return to a pharmacy education is, the more profitable is the investment. This theoretical model may be used to estimate the financial viability of pharmacy and compare it to the viability of other professions or to the viability of pharmacy among various locations.

Purpose: To investigate the rate of return to sports and sport psychological readiness between patients who underwent isolated MPFLR (iMPFLR) compared to a matched cohort of patients who underwent MPFLR with anteromedializing tibial tubercle osteotomy (MPFLR/TTO). Methods: Patients who underwent primary MPFLR with or without TTO for recurrent patellar instability were retrospectively reviewed from 2012 to 2020 at a single institution. Preinjury sport and work information, Kujala, Tegner, Visual Analogue Score for pain, satisfaction and MPFL‐Return to Sport after Injury (MPFL‐RSI) score were collected. Two readers independently measured the tibial tuberosity‐trochlear groove distance, Caton–Deschamps index and Dejour classification for trochlear dysplasia. Patients in iMPFLR and MPFLR/TTO groups were matched 1:1 on age, sex, body mass index and follow‐up length. Multivariate regression analysis was performed to determine whether the MPFL‐RSI was associated with a return to sport. Results: This study included 74 patients at mean follow‐up of 52.5 months (range: 24–117). These groups returned to sport at similar rates (iMPFLR: 67.6%, MPFLR/TTO: 73.0%, not significant [ns]), though iMPFLR patients returned more quickly (8.4 vs. 12.8 months, p = 0.019). Rates of return to preinjury sport level were also similar (45.9% vs. 40.5%, ns). Patients with Dejour B/C took more time to return to sport compared to patients with mild/no trochlear pathology (13.8 vs. 7.9 months, p = 0.003). Increasing MPFL‐RSI score was significantly predictive of the overall return to sport (odds ratio [OR]: 1.08, 95% confidence interval [CI] [1.03, 1.13], p < 0.001) and return to preinjury level (OR: 1.07, 95% CI [1.04, 1.13], p < 0.001). Most patients in iMPFLR and MPFLR/TTO groups resumed work (95.7% vs. 88.5%, ns), though iMPFLR patients who returned to preinjury work levels did so more quickly (1.7 vs. 4.6 months, p = 0.005). Conclusion: Patients who underwent MPFLR with anteromedializing TTO demonstrated similar rates of return to sport and psychological readiness compared to an isolated MPFLR matched comparison group, though iMPFLRs returned more quickly. Patients with more severe trochlear pathology required more time to return to sports. Level of Evidence: Level III. [ABSTRACT FROM AUTHOR]

Motivation: The growing importance of ESG in the international economy makes the analysed issues extremely interesting. More and more studies show the growing role of ESG performance on company financial and market results as well as analyse the impact of the COVID-19 pandemic on the financial market. The study of rate of return and the relationship between the largest company companies in European Union Member States is of key importance considering the investment portfolio risk. Aim: The main aim of the article is impact assessment of ESG performance of the firm (proxied by ESG scoring by Refinitiv) on the rate of return of commodity sector companies listed on financial markets of European Union Member States. The second goal of the paper is to determine the impact of the COVID-19 pandemic on the rate of return of the analysed companies. The third and final goal is to assess the impact of sector leader Results: ESG disclosure by the surveyed companies and ESG scoring had negative impact on the rate of return, while E, S and G scorings did not affect rate of return at all. Sector leaders were less negatively impacted by the COVID-19 economic crisis than the rest of the sector, however sector leadership status was not statistically significant. COVID-19 pandemic positively influenced the rate of return of analysed companies. In case of commodities stock companies, the economic crisis caused by the pandemic brought about higher levels of uncertainty in the financial markets. [ABSTRACT FROM AUTHOR]

Investment decisions in personal financial management especially for students is crucial because investment is a process of learning to manage finances, starting now and in the future. Low knowledge about planning an often makes students experience fraud, because offers from investment returns are also very tempting. Based on the phenomenon, this study aims to determine the effect of financial technology, investment literacy, investment interest, and return investment tolerance on investment decisions. This research was conducted by distributing questionnaires to respondents with the criteria of students at the University of Sidoarjo city in study program, economy &; business class. The number of research respondents was 288 students and data management used SmartPLS 3.2.8 analysis techniques. The results of this study state that financial technology, investment literacy, investment interest has a positive and significant effect on investment decisions, while return investment have a insignificant effect on investment decisions of University student University of Sidoarjo city in study program economy & business. [ABSTRACT FROM AUTHOR]