In traditional bond markets, sovereign bonds provide benchmarks and serve as catalysts for the corporate bond market development. Contrary to the usual sequence of bond market development, sovereign issuers are latecomers to sustainable bond markets. Yet, our empirical study finds that sovereign green bond issuance can have quantitative and qualitative benefits for the development of private sustainable bond markets. Our results suggest that both the number and the size of corporate green bond issuance increase more in a jurisdiction after the sovereign debut. The results are more pronounced in countries with stronger climate policies. Sovereign green bond issuance also improves the quality of green verification standards in the corporate bond market more generally, consistent with the aim of fostering third-party reviews and promoting best practice in green reporting and verification. Finally, our work provides evidence that the sovereign debut increases liquidity and diminishes yield spreads of corporate green bonds in the same jurisdiction.
Environmental, Social, and Governance (ESG) scores are a key tool for asset managers in designing and implementing ESG investment strategies. They, however, amalgamate a broad range of fundamentally different factors, creating ambiguity for investors as to the underlying drivers of higher or lower ESG scores. We explore the feasibility and performance of more targeted investment strategies based on specific ESG categories, by deconstructing ESG scores into their granular components. First, we investigate the characteristics of the various categories underlying ESG scores. Not all types of ESG categories lend themselves to more focused strategies, which is related to both limits to ESG data disclosure and the fundamental challenge of translating qualitative characteristics into quantitative measures. Second, we consider an investment scheme based on the exclusion of firms with the lowest scores in a given category of interest. In most cases, this strategy allows investors to substantially improve the ESG category score, with a marginal impact on financial performance relative to a broad stock market benchmark. The exclusion results in regional and sectoral biases relative to the benchmark, which may be undesirable for some investors.We then implement a “best-in-class” strategy by excluding firms with the lowest category scores and reinvesting the proceeds in firms with the highest scores, maintaining the same regional and sectoral composition. This approach reduces the tracking error of the portfolio and slightly improves its risk-adjusted performance, while still yielding a large gain in the targeted ESG category score.
Provides coverage of the pathogenesis, clinical, morphologic, molecular and investigational aspects of a full range of blood disorders seen in daily practice The revised fifth edition of this renowned atlas presents readers with a comprehensive, visual guide to clinical hematology, featuring 2700 full-color photographs and figures depicting the spectrum of hematological diseases. Ranging from photographs of the clinical manifestations and key microscopic findings to diagrams of the molecular aspects of these diseases, the book provides up-to-date information of the blood diseases that clinicians encounter every day. Color Atlas of Clinical Hematology: Molecular and Cellular Basis of Disease offers the reader an understanding of normal cell machinery, and of the molecular basis for such processes as DNA and cell replication, RNA species, trafficking and splicing, protein synthesis, transcription factors, growth factor signal transduction, epigenetics, cell differentiation, autophagy, and apoptosis. The text goes on to explore how these processes are disturbed in the various diseases of the bone marrow, blood, and lymphoid systems. Helps solve difficult diagnostic challenges and covers complex principles using highly illustrative, full-color images Explores all aspects of benign and malignant hematology, including blood transfusion and coagulation with extensive coverage of the pathogenesis of common clinical entities Provides a quick and easy reference of key diagnostic issues in a comprehensive yet concise format Includes and illustrates the WHO Classification of Hematologic Malignancies Illustrates the new knowledge of the molecular basis of inherited and acquired blood diseases Color Atlas of Clinical Hematology: Molecular and Cellular Basis of Disease is the must-have resource for both trainee and practising hematologists, and for every department of hematology. "Substantially updated and now multi-authored so that all aspects of haematology are equally covered, including the newest developments in molecular biology and genomic sequencing" "There is a surplus of invention in communicating complex problems here and an admirable effort to keep the reader totally up-to-date
Corona/COVID-19, Measles, Swine Flu, Cervical Cancer, Avian Flu, SARS, BSE, Hepatitis C, AIDS, Polio, Spanish Flu. How the Medical Industry Continually Invents Epidemics, Making Billion-Dollar Profits At Our Expense
Corona/COVID-19, Measles, Swine Flu, Cervical Cancer, Avian Flu, SARS, BSE, Hepatitis C, AIDS, Polio, Spanish Flu. How the Medical Industry Continually Invents Epidemics, Making Billion-Dollar Profits At Our Expense
The book 'Virus Mania' has been written with the care of a master-craftsman, courageously evaluating the medical establishment, the corporate elites and the powerful government funding institutions." Wolfgang Weuffen, MD, Professor of Microbiology and Infectious Epidemiology "The book 'Virus-Wahn' can be called the first work in which the errors, frauds and general misinformations being spread by official bodies about doubtful or non-virus infections are completely exposed." Gordon T. Stewart, MD, professor of public health and former WHO advisor - - - The population is terrified by reports of so-called COVID-19, measles, swine flu, SARS, BSE, AIDS or polio. However, the authors of "Virus Mania," investigative journalist Torsten Engelbrecht, Dr. Claus Köhnlein, MD, Dr. Samantha Bailey, MD, and Dr. Stefano Scoglio, BSc PhD, show that this fearmongering is unfounded and that virus mayhem ignores basic scientific facts: The existence, the pathogenicity and the deadly effects of these agents have never been proven. The book "Virus Mania" will also outline how modern medicine uses dubious indirect lab tools claiming to prove the existence of viruses such as antibody tests and the polymerase chain reaction (PCR). The alleged viruses may be, in fact, also be seen as particles produced by the cells themselves as a consequence of certain stress factors such as drugs. These particles are then "picked up" by antibody and PCR tests and mistakenly interpreted as epidemic-causing viruses. The authors analyze all real causes of the illnesses named COVID-19, avian flu, AIDS or Spanish flu, among them pharmaceuticals, lifestyle drugs, pesticides, heavy metals, pollution, malnutrition and stress. To substantiate it, the authors cite dozens of highly renowned scientists, among them the Nobel laureates Kary Mullis, Barbara McClintock, Walter Gilbert and Sir Frank Macfarlane Burnet as well as microbiologist and Pulitzer Prize winner René Dubos, and it presents more than 1,400 solid scientific references. The topic of "Virus Mania" is of pivotal significance. Drug makers and top scientists rake in enormous sums of money and the media boosts its audience ratings and circulations with sensationalized reporting (the coverage of the "New York Times" and "Der Spiegel" are specifically analyzed).The enlightenment about the real causes and true necessities for prevention and cure of illnesses is falling by the wayside. For more reviews, see the older edition of "Virus Mania
This timely and practical guide compares the jurisdictional advantages of litigating a national IP right with those of the corresponding European unitary IP right. The study offers IP practitioners a meticulous yet principled basis for their jurisdictional decisions and shows why it is advantageous for infringers to litigate based on a national IP right and rightholders to litigate based on a European unitary IP right.
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