State ownership, information asymmetry and cash holding: Impact of COVID-19 on Chinese-listed firms.

This study investigates the relationship between information asymmetry and cash holdings under the impact of the coronavirus disease 2019 (COVID-19) in China. It likewise explores how state ownership dominates their nexus, particularly during the pandemic. COVID-19 caused increases in cash holdings, and that the information asymmetry's effect on cash holdings is more pronounced over the COVID-19 period. Additionally, information asymmetry has a weaker effect on corporate cash holdings for state-owned enterprises (SOEs) under the pandemic. Overall, the study shows that state ownership moderates information asymmetry's impact on cash holdings and softens firms' precautionary motive for cash holdings during the pandemic.

Financial Planning for Retirement: The Mediating Role of Culture

The life expectancy rate of individuals worldwide has risen, and Saudi Arabia is not excluded. Rising long-life expectancy may jeopardize employees' pensions and reduce the chances of adequate earnings and a decent life after retirement. Moreover, the number of employees, who have paid into pension funds and are now retired, has increased, indicating that pension funds are expected to decrease. Apart from the above, the level of financial literacy in Saudi Arabia was substandard. Therefore, the ultimate objective of this research is to examine the measurable factors that could impact employees in their financial planning for retirement (FPR). These factors comprise the employee's financial literacy (FL), financial risk tolerance (FRT), and cultural factors based on the CWO model. Moreover, this study aims to investigate the mediating roles of culture in their relationship with financial planning for retirement. Primary data was collected during the COVID-19 pandemic from mid-July 2020 until the end of January 2021 using a non-probability convenience sampling approach involving 525 participants. The Structural Equation Modelling (SEM) technique was used to analyze the data. To determine the type of study variables, either a formative or reflective model of Confirmatory Tetrad Analysis (CTA-PLS) was used. The results show the significant influence of basic FL, FRT, and culture on FPR. Moreover, it shows the critical role of culture among those with advanced FL and FRT. Previous studies have examined FL and FRT in FPR without considering the effect of culture as a mediator.

Oxygen saturation measurements using novel diffused reflectance with hyperspectral imaging: Towards facile COVID-19 diagnosis.

Oxygen saturation level plays a vital role in screening, diagnosis, and therapeutic assessment of disease's assortment. There is an urgent need to design and implement early detection devices and applications for the COVID-19 pandemic; this study reports on the development of customized, highly sensitive, non-invasive, non-contact diffused reflectance system coupled with hyperspectral imaging for mapping subcutaneous blood circulation depending on its oxygen saturation level. The forearm of 15 healthy adult male volunteers with age range of (20-38 years) were illuminated via a polychromatic light source of a spectrum range 400-980 nm. Each patient had been scanned five times to calculate the mean spectroscopic reflectance images using hyperspectral camera. The customized signal processing algorithm includes normalization and moving average filter for noise removal. Afterward, employing K-means clustering for image segmentation to assess the accuracy of blood oxygen saturation (SpO2) levels. The reliability of the developed diffused reflectance system was verified with the ground truth technique, a standard pulse oximeter. Non-invasive, non-contact diffused reflectance spectrum demonstrated maximum signal variation at 610 nm according to SpO2 level. Statistical analysis (mean, standard deviation) of diffused reflectance hyperspectral images at 610 nm offered precise calibrated measurements to the standard pulse oximeter. Diffused reflectance associated with hyperspectral imaging is a prospective technique to assist with phlebotomy and vascular approach. Additionally, it could permit future surgical or pharmacological intercessions that titrate or limit ischemic injury continuously. Furthermore, this technique could offer a fast reliable indication of SpO2 levels for COVID-19 diagnosis.

Optimized collusion prevention for online exams during social distancing.

Online education is important in the COVID-19 pandemic, but online exam at individual homes invites students to cheat in various ways, especially collusion. While physical proctoring is impossible during social distancing, online proctoring is costly, compromises privacy, and can lead to prevailing collusion. Here we develop an optimization-based anti-collusion approach for distanced online testing (DOT) by minimizing the collusion gain, which can be coupled with other techniques for cheating prevention. With prior knowledge of student competences, our DOT technology optimizes sequences of questions and assigns them to students in synchronized time slots, reducing the collusion gain by 2-3 orders of magnitude relative to the conventional exam in which students receive their common questions simultaneously. Our DOT theory allows control of the collusion gain to a sufficiently low level. Our recent final exam in the DOT format has been successful, as evidenced by statistical tests and a post-exam survey.

Delineation of the Arm Blood Vessels Utilizing Hyperspectral Imaging to Assist with Phlebotomy for Exploiting the Cutaneous Tissue Oxygen Concentration.

SIGNIFICANCE: The estimation of tissue oxygenation is vital in the diagnosis and therapeutic evaluation of a huge assortment of diseases. The hyperspectral (HS) imaging system is a rising innovation that can be utilized to build a highly sensitive, non-invasive, and tissue hemoglobin immersion map. OBJECTIVE: As a result of the urgent need to design and implement early detection devices and applications for the COVID-19 pandemic, we propose building a non-invasive custom optical imaging system to assist with phlebotomy and vascular approach to survey the reliability of blood oxygen saturation (SpO2) levels recovered from spectral images. MATERIALS AND METHODS: HS images were gathered from 15 healthy subjects without previous medical history complications and with an average age range of 20 to 38 years, who were undergoing phlebotomy. The forearm was vigorously illuminated utilizing an HS camera with polychromatic source light of spectrum range (400∼980 nm). Spectroscopic reflectance images were caught by a focal plane exhibit for the region of interest (ROI). Then the custom algorithm comprising normalization and moving average filtering for noise removal was applied, followed by K-mean clustering for image segmentation to visualize and highlight the arteries and the veins in the investigated forearm. RESULTS: The investigations show that after normalization of the recorded signal from the HS camera of the participating subjects it was noticed that at wavelength of 460 nm the oxygenated arteries had a stronger signal than the de-oxygenated veins, and at a wavelength of 750 nm the de-oxygenated veins had a stronger signal than the oxygenated arteries. Thus, the ideal wavelength to reveal the oxygenated arteries was 460 nm, and the ideal wavelength to reveal the de-oxygenated veins was 750 nm. CONCLUSIONS: HSI is a prospective technique to assist with phlebotomy and non-contact oxygen saturation approach. Additionally, it may permit future surgical or pharmacological intercessions that titrate or limit ischemic injury continuously.