The Effect of Risk-Based Factors on the Value Premium: The Finnish Evidence

This thesis examines the effect of operating leverage and financial leverage on the value premium in the Finnish stock markets 2002-2012. The purpose of the thesis is to examine whether operating leverage and financial leverage affect firm`s BE/ME and stock returns. The accounting data has been collected from Amadeus database and market-based data from the Datastream database. Sample used in this thesis covers years from 1998 to 2012. This thesis confirms the findings of previous research of tight connection between operating leverage and BE/ME and reinforces the findings of previous research that relation between financial leverage and BE/ME is not robust. In turn, relation between operating leverage, BE/ME and stock returns is not clearly perceived during the 2002-2012 period in the Finnish stock markets.

Effect of supplementation of green tea polyphenols on the developmental competence of bovine oocytes in vitro

The objective of the present study was to examine the effect of green tea polyphenols (GTPs) supplementation during in vitro maturation, in vitro fertilization, and in vitro culture on the developmental competence of bovine oocytes. Cumulus-oocyte complexes aspirated from the ovaries were matured in vitro (38.5ºC for 24 h) and fertilized (38.5ºC for 15-18 h) and embryos were cultured (38.5ºC for 192 h) in a defined conditioned medium with or without GTPs supplementation. The GTPs used in the present study contained 99% catechin derivatives, with the major components being 50% (-)-epigallocatechin gallate, 22% (-)-epicatechin gallate, 18% (-)-epigallocatechin, and 10% (-)-epicatechin. Four replicate trials were done for each type of experiment. GTPs supplementation (15 µM) of the maturation medium led to a significant increase in the rate of blastocyst formation (34.0 vs 21.4%, P < 0.05). However, the rate of blastocyst formation was not improved when higher GTPs concentrations (20 or 25 µM) were added to the in vitro maturation medium. During in vitro fertilization, supplementation with higher GTPs concentrations (20 or 25 µM) significantly reduced the rate of blastocyst formation (P < 0.05). Supplementation of the culture medium with 15 µM GTPs improved the rate of blastocyst formation, while higher GTPs concentrations (25 µM) significantly reduced embryo development (P < 0.05). In conclusion, these results demonstrate that supplementation with GTPs at low concentration (15 µM) during in vitro maturation and in vitro culture improved the developmental competence of bovine oocytes.

A method for fast determination of epigallocatechin gallate (EGCG), epicatechin (EC), catechin (C) and caffeine (CAF) in green tea using HPLC

Tea has been considered a medicine and a healthy beverage since ancient times, but recently it has received a great deal of attention because of its antioxidant properties. Green tea polyphenols have demonstrated to be an effective chemopreventive agent. Recently, investigators have found that EGCG, one of the green tea catechins, could have anti-HIV effects when bound to CD4 receptor. Many factors can constitute important influences on the composition of tea, such as species, season, age of the leaf, climate, and horticultural practices (soil, water, minerals, fertilizers). This paper presents an HPLC analytical methodology development, using column RP-18 and mobile phase composed by water, acetonitrile, methanol, ethyl acetate, glacial acetic acid (89:6:1:3:1 v/v/v/v/v) for simultaneous determination and quantification of caffeine (CAF), catechin (C), epicatechin (EC) and epigallocatechin gallate (EGCG) in samples of Camellia sinensis (green tea) grown in Brazil and harvested in spring, in summer and in autumn, in comparison to Brazilian black tea, to samples of Japanese and Chinese green tea and to two standardized dry extracts of green tea. The method has been statistically evaluated and has proved to be adequate to qualitative and quantitative determination of the samples.

Flavonoids, total phenolics and antioxidant capacity: comparison between commercial green tea preparations

The potential health benefits attributed to green tea and its catechins such as antioxidant effects, cancer chemoprevention, and weight loss have led to a huge increase of green tea products in the food market. The objectives of this work were to analyze and compare these products in terms of phenolic contents and in vitro antioxidant capacity including tea bags, dehydrated leaves, and ready-to-drink preparations after standardization of the infusion preparation procedure. Total phenolics content in 1 cup of the different teas varied from 90 to 341 mg of catechin equivalents, and the highest and the lowest values were both those of the ready-to-drink products. Infusions prepared from tea bags had contents varying from 96 to 201 mg.200 mL-1, and there were no significant differences among batches. The DPPH radical scavenging and the Oxygen Radical Absorbing Capacities (ORAC) varied largely among the different tea preparations, from 23 to 131 mmoles of Trolox Equivalents (TE).200 mL-1 (DPPH), and from 1.2 to 5.1 mmoles of TE.200 mL-1 (ORAC), but again there were no differences among infusions or ready-to-drink commercial preparations. However, the antioxidant capacity of ready-to-drink products was partially due to the presence of other non-phenolic compounds such as ascorbic acid

Quantification of catechins and caffeine from green tea (Camellia sinensis) infusions, extract, and ready-to-drink beverages

This study aimed to quantify the levels of catechins and caffeine in various forms of presentation of green tea: infusion tea bags, extract, and ready-to-drink beverage and, based on their content, identify the most suitable for consumption. High Performance Liquid Chromatography (HPLC) analytical method was used for the quantification of catechins and caffeine. The tea bags had the highest concentration of total catechins with 5 to 9.5% followed by the extract with 3.64 to 4.88%, and ready-to-drink green tea beverage showed low levels of catechins, from 0.14 to 0.26%. As for caffeine content, green tea extract had higher concentration (1.96 to 3.54%) compared to the tea bags (1.39 to 1.57%). Tea bags were found the most suitable for consumption because it contains higher amounts of catechins and smaller amounts of caffeine.

White tea (Camellia sinensis) extract reduces oxidative stress and triacylglycerols in obese mice

White tea is an unfermented tea made from young shoots of Camellia sinensis protected from sunlight to avoid polyphenol degradation. Although its levels of catechins are higher than those of green tea (derived from the same plant), there are no studies addressing the relationship between this tea and obesity associated with oxidative stress.The objective of this study was to evaluate the effect of white tea on obesity and its complications using a diet induced obesity model. Forty male C57BL/6 mice were fed a high-fat diet to induce obesity (Obese group) or the same diet supplemented with 0.5% white tea extract (Obese + WTE) for 8 weeks. Adipose tissue, serum lipid profile, and oxidative stress were studied. White tea supplementation was not able to reduce food intake, body weight, or visceral adiposity. Similarly, there were no changes in cholesterol rich lipoprotein profile between the groups. A reduction in blood triacylglycerols associated with increased cecal lipids was observed in the group fed the diet supplemented with white tea. White tea supplementation also reduced oxidative stress in liver and adipose tissue. In conclusion, white tea extract supplementation (0.5%) does not influence body weight or adiposity in obese mice. Its benefits are restricted to the reduction in oxidative stress associated with obesity and improvement of hypertriacylglycerolemia.

Mary Louise Tea Room, in the Barker Brothers Department Store in downtown Los Angeles, California

Halftone photographic postcard showing the Mary Louise Tea Room, in the Barker Brothers Department Store in downtown Los Angeles, California. The tea room was run by Dolla Harris, sister of C. C. Chapman.

Rooibos tea flavonoids increase mineral content in human osteoblast-like cells

Some cross-sectional and prospective studies have demonstrated a positive correlation between habitual tea consumption and bone mineral density in post-menopausal women. Rooibos tea contains no caffeine and is a rich source of flavonoids such as rutin, orientin, hyperoside and luteolin. These flavonoids have similar structures to estradiol, and therefore may act as estrogen mimics to promote favourable outcomes in bone. The overall objective of this research was to identify flavonoids that could enhance mineral content in human osteoblast Saos2 cells. Mineral was quantified by alizarin red staining and characterized by quantifying alkaline phosphatase (ALP) activity, cell mitochondria activity and toxicity, in addition to changes in regulatory markers of osteoblastic activity. Rutin (≥50μM), hyperoside (≥5.0μM), orientin (0.1μM-1.0μM, 15μM-100μM) and luteolin (5.0μM) enhanced mineral content. This was in part due to elevated ALP and mitochondrial activity, and lower toxicity, pro-inflammatory cytokines, and Wnt inhibitors.

Receipt from John R. Monro, Tea, China, Glass and Crockery House, St. Catharines

Receipt from John R. Monro, Tea, China, Glass and Crockery House, St. Catharines for kitchen items, shoes and mustard, April 12, 1887.

Bill of landing (copy) for tea chest and boxes received at Port Hamilton

Bill of landing (copy) for tea chest and boxes received at Port Hamilton, Sept. 14, 1840.

The Shape of the Risk Premium: Evidence from a Semiparametric Garch Model.

We examine the relationship between the risk premium on the S&P 500 index return and its conditional variance. We use the SMEGARCH - Semiparametric-Mean EGARCH - model in which the conditional variance process is EGARCH while the conditional mean is an arbitrary function of the conditional variance. For monthly S&P 500 excess returns, the relationship between the two moments that we uncover is nonlinear and nonmonotonic. Moreover, we find considerable persistence in the conditional variance as well as a leverage effect, as documented by others. Moreover, the shape of these relationships seems to be relatively stable over time.

Le mouvement Tea Party aux États-Unis : une mobilisation expliquée par le cadre des opportunités politiques.

Ce mémoire étudie les conditions d’émergence du mouvement Tea Party. Nous cherchons à savoir si la mobilisation a été facilitée par la présence d’opportunités politiques, telles que proposées dans la littérature sur les mouvements sociaux. À l’aide d’une analyse de contenu, il a été possible d’observer trois opportunités dans une période comprise entre février 2009 et octobre 2010. Dans cette même période, il a été aussi possible d’identifier la fréquence et la nature de la mobilisation, qui prend la forme de protestations et de réunions informelles. Nous en arrivons à la conclusion que ces opportunités étaient présentes lors de l’émergence du mouvement social. En effet, la présence d’enjeux spécifiques, d’une division partisane ainsi que d’alliés coïncide avec une augmentation substantielle de la mobilisation. Les élections de mi-mandat semblent avoir transformé un mouvement axé sur les protestations vers une action politique conventionnelle.

Consumption of black tea and coffee and the risk of lung cancer

Objectif: Étudier l’association entre la consommation de café, la consommation de thé noir et le risque de cancer du poumon. Méthodologie: Cette recherche utilise les données obtenues lors d’une étude cas-témoin effectuée à Montréal avec des résidents canadiens âgés entre 35 et 75 ans recrutés entre 1996 et 2001. Les cas étaient des individus atteints du cancer et diagnostiqués entre 1996 et 1997 dans l’un des 18 hôpitaux de la région du Grand-Montréal. Les contrôles on été sélectionnés à partir de la liste électorale et appariés selon la fréquence de distribution des cas par groupe d’âge de 5 ans, par sexe et par district électoral. Au total, 1130 cas et 1484 contrôles ont été inclus dans cette étude. Les rapports de cote (RC) et les intervalles de confiance de 95% (CI) des associations entre la consommation de thé noir, de café et le cancer du poumon ont été estimés à l’aide de la régression logistique non conditionnelle. Quatre aspects de la consommation ont été analysés dans des modèles multivariés distincts: la fréquence de consommation, la consommation journalière moyenne, la durée de consommation et la consommation cumulative. Les covariables potentielles considérées incluaient : l’âge, le sexe, l’historique de tabagisme, le statut du répondant, l’ethnicité, la consommation d’alcool, la consommation de fruit et de légume, l’apport énergétique journalier, l’exposition a des agents professionnelle et les variables socio-économiques . Des analyses secondaires par le sexe, le tabagisme et le type histologique de cancer on été effectuées. Résultats : Aucune association statistiquement significative n’a été observée entre la consommation de thé noir et le cancer du poumon. Nos résultats suggèrent qu’une consommation de ≥ 50 ans était associée avec une augmentation du risque d’adénocarcinome comparée à aucune consommation. Nous avons observé une association inverse statistiquement significative entre la consommation occasionnelle de café et le cancer du poumon (RC : 0.32, 95%CI : 0.17-0.59). La durée de consommation de café n’était pas associée avec le cancer du poumon. Conclusion : Nos résultats suggèrent que la consommation à long terme de thé noir pourrait augmenter le risque d’adénocarcinome. D’un autre côté, la consommation occasionnelle de café pourrait réduire le risque de cancer du poumon.