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Goebel, K.P.,Stein, H.H. Asian Australasian Association of Animal Productio 2011 Animal Bioscience Vol.24 No.1
An experiment was conducted to determine the standardized ileal digestibility (SID) of amino acids (AA) in four sources of full-fat soybeans (FFSB) and in one source of soybean meal (SBM). The FFSB had different concentrations of trypsin inhibitor units (TIU) and included two sources of conventional FFSB, and two sources of a soybean variety that was selected for a reduced concentration of the Kunitz trypsin inhibitor. The conventional FFSB was either low temperature-processed (LT-FFSB-CV; 37.7% CP, 35.4 TIU/mg) or high temperature-processed (HT-FFSB-CV; 40.5% CP, 4.4 TIU/mg). The low-Kunitz FFSB was also either low temperature-processed (LT-FFSB-LK; 36.2% CP, 23.5 TIU/mg) or high temperature-processed HT-FFSB-LK; (38.2% CP, 4.0 TIU/mg). The SBM contained 47.5% CP and 3.20 TIU/mg. Twelve weanling barrows (initial BW: $11.1{\pm}1.3\;kg$) were fitted with a T-cannula in the distal ileum. Pigs were allotted to a replicated $6{\times}6$ Latin square design with six diets and six periods per square. Five diets were prepared using each of the soybean sources as the only source of AA in the diet. An N-free diet was also included in the experiment to measure basal endogenous losses of AA. The two low temperature-processed FFSB had lower (p<0.05) AID and SID values for all indispensable AA than the two high temperature-processed FFSB and SBM. The SID values for all indispensible AA except Trp were greater (p<0.05) in LT-FFSB-LK than in LT-FFSB-CV, but the SID of AA in HT-FFSB-CV and HT-FFSB-LK were not different. The SID of AA in SBM were not different from the SID in HT-FFSB-CV and in HT-FFSB-LK. Results of this experiment show that a reduction of the TIU from 35.4 to 23.5 TIU/mg will improve the SID of AA, but this reduction is not sufficient to completely ameliorate the negative impact of trypsin inhibitors. Results also show that the SID of AA in high temperature-processed FFSB is similar to that in de-hulled SBM.
Unclear Abdominal Discomfort: Pivotal Role of Carbohydrate Malabsorption
( Miriam Goebel Stenge ),( Andreas Stenge ),( Marco Schmidtmann ),( Ivo Van Der Voort ),( Peter Kobelt ),( Hubert Monnikes ) 대한소화기기능성질환·운동학회 2014 Journal of Neurogastroenterology and Motility (JNM Vol.20 No.2
Background/AimsCarbohydrate malabsorption is frequent in patients with functional gastrointestinal disorders and in healthy volunteers and cancause gastrointestinal symptoms mimicking irritable bowel syndrome (IBS). The aim of this study was to investigate the prevalence ofsymptomatic lactose and fructose malabsorption in a large population of patients with IBS-like symptoms based on Rome II criteria. MethodsPatients with unclear abdominal discomfort (n = 2,390) underwent lactose (50 g) and fructose (50 g) hydrogen (H2) breathtests and depending on the results further testing with 25 g fructose or 50 g glucose, or upper endoscopy with duodenalbiopsies. Additionally, this population was investigated regarding the prevalence of small intestinal bacterial overgrowth (SIBO)based on glucose breath test and celiac disease. ResultsOf the 2,390 patients with IBS-like symptoms, 848 (35%) were symptomatic lactose malabsorbers and 1,531 (64%) symptomaticfructose malabsorbers. A combined symptomatic carbohydrate malabsorption was found in 587 (25%) patients. Severefructose malabsorbers (pathologic 25 g fructose test) exhaled significantly higher H2 concentrations in the 50 g test than patientswith negative 25 g fructose test (P < 0.001). Out of 460/659 patients with early significant H2 increase in the lactoseand fructose test who underwent a glucose breath test, 88 patients had positive results indicative of SIBO and they were significantlyolder than patients with negative test result (P < 0.01). Celiac disease was found in 1/161 patients by upper endoscopy. ConclusionsCarbohydrate malabsorption is a frequent but underestimated condition in patients with IBS-like symptoms although diagnosiscan be easily confirmed by H2 breath testing.
The Persistence of the NCAV Stock Selection Criterion
Joseph M Goebel,Manoj Athavale People&Global Business Association 2013 Global Business and Finance Review Vol.18 No.1
The Net Current Asset Value (NCAV) rule continues to identify successfully firms that will provide superior risk-adjusted holding period returns after accounting for size, book-to-market (BM), risk, and prior performance. Relative to other firms, the NCAV firms (1) are more numerous during economic contractions, (2) are less likely to trade on the NYSE, (3) are less likely to be delisted because of liquidation, (4) are smaller firms, (5) have greater variance in holding period returns, (6) have higher BM ratios, and (7) have underperformed prior to their identification as NCAV opportunities. Overreaction serves as a partial explanation for the superior performance of NCAV firms.
OUTSIDE DIRECTOR TRADING BEHAVIOR AROUND SEASONED EQUITY OFFERINGS
Joseph M Goebel People&Global Business Association 2003 Global Business and Finance Review Vol.8 No.2
While outside director board concentration (ODBC) Levels have risen, research Looking into the role that outside directors (OD) play in aligning shareholder and managerial interests has been inconclusive. This paper addresses the issue of OD effectiveness through focusing more fundamentally upon their allegiance as evidenced by the trading patterns of OD surrounding an event widely associated with declining shareholder wealth - the seasoned equity offering. Not only. do OD significantly increase net sales in response to the offering, they tend to more highly concentrate their net sales before the offering than all other insiders and inside directors. Further, the concentration of net sales activity by OD is most prevalent in firms with the highest ODBC levels, suggesting that rising ODBC Levels as a means to more effectively influence management as shareholders would prefer are misguided.
ON OUTSIDE DIRECTOR TRADING BEHAVIOR AROUND SEASONED EQUITY OFFERINGS: AN EXTENSION
Joseph M Goebel 사람과세계경영학회 2006 Global Business and Finance Review Vol.11 No.2
The growing presence of outside directors (OD) on boards underscores the presumption of natural alignment of OD and shareholder interests despite inconclusive evidence on this issue. This paper more directly addresses the issue of OD effectiveness through focusing upon the impact that OD have on insider trading activity surrounding an event widely associated with declining shareholder wealth - the seasoned equity offering (SEO). The evidence shows that OD increase net selling activity more dramatically than any other class of insiders in anticipation of the offering, initially suggesting misalignment. However, the degree of misalignment differs by type of offering firm. In particular, NASDAQ offering firms are associated with a negative relationship between OD board concentration levels and insider pre-offering net selling activity as well as a relatively significant reduction in insider trading activity over the six and twelve months surrounding the offering process. These results suggest that presumptions of increasing OD involvement as value enhancing are more supported for NASDAQ firms than for NYSE/AMEX offering firms.