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Fulltext Analysis of Equity Disputes in Listed Companies With Dispersed Ownership Structure and Protection of Small and Medium Shareholders' Interests

He CX, Soh WN, Ong TS, Lau WT, Zhong B

Front Psychol, 2022;13:857585.
PMID: 35668972 DOI: 10.3389/fpsyg.2022.857585

This paper selected Vanke as the case to study the governance problems of Vanke and the protection of the interests of small and medium shareholders under the situation of equity disputes. At the same time, the study further explored the advantages and disadvantages of the dispersed ownership structure, the long-term impact on the company's development and the choice of the involved corporate governance methods under the current Chinese capital market conditions. This paper adopted the event research method and selected the period from June 2015 to June 2017 (24 months) as the observation period to analyze the market performance impact of Vanke in the equity disputes. At the same time, this paper also measured Vanke 's individual stock rate of return (R it ) and market rate of return (R mt ), and calculated Vanke 's normal rate of return [E(R i,t )], abnormal rate of return (AR i,t ), and cumulative abnormal rate of return (CAR i ) during different event windows ([-3,10]). Vanke 's shareholding was too dispersed and the stock price had been sluggish for a long time, which had greatly reduced the acquisition difficulty and cost of Baoneng , thus triggering the "barbarian invasion" of Baoneng . In the struggle for control, whether it was Vanke 's anti-takeover measures or China Resources , Baoneng , and Evergrande 's competition for equity, their actions had harmed the interests of small and medium shareholders. The market supervision department was too lenient to supervise and punish the interests of small and medium shareholders, and opportunism made behaviors that infringe on the interests of others more reckless. However, small and medium shareholders cannot actively participate in the company's management decision-making to safeguard their legitimate rights and interests, which intensifies the violations of all parties in the equity disputes, thus forming a vicious circle. Therefore, the protection of the interests of small and medium shareholders required the joint efforts and consciousness of regulators, small and medium shareholders, and acquirers.
Fulltext Decision-Architecture Dependence and Patient-Gender-Conditioned Allocation in Large-Language-Model-Assisted Nursing Allocation: A Multi-Model Counterfactual Audit

Li Z, Zhu W, Jiang L, Wei X, Zhou J, Yang W, et al.

Healthcare (Basel), 2026 Oct 21;14(20).
PMID: 42940596 DOI: 10.3390/healthcare14203549

Background/Objectives: Large language models (LLMs) may support healthcare workforce allocation, but their decisions can be sensitive to demographic cues and decision architecture. This study examined gender-task congruity, Candidate-A dependence under the tested decision architecture, and patient-gender-conditioned nursing allocation. Methods: Three provider-specific LLM configurations were audited across 24 nursing tasks. Male and female nurses were professionally equivalent and counterbalanced across Candidate A/B; patient gender was varied in six intimate-care tasks. Sixty conditions were repeated three times per model, yielding 540 valid outputs. Results: Male nurses were selected in 50.0% of Technical/Procedural and Relational/Educational allocations. Candidate A was selected in all 288 observations, although 285 (99.0%) assigned identical suitability scores. Because A/B assignment was bundled with labeling, presentation order, evaluation order, and response-template anchoring, this pattern indicates Candidate-A dependence under the tested decision architecture rather than an isolated position effect. Changing patient gender from female to male produced 57 female-to-male nurse switches and no reverse switches (p < 0.001). Conclusions: The audited configurations showed no generalized gender-task pattern but demonstrated decision-architecture dependence and patient-gender-conditioned allocation. Fairness audits should assess equivalent-candidate handling, patient preference, and counterfactual stability.
acFibroMASH Index for the Diagnosis of Fibrotic MASH and Prediction of Liver-related Events: An International Multicenter Study

Feng G, Mózes FE, Ji D, Treeprasertsuk S, Okanoue T, Shima T, et al.

Clin Gastroenterol Hepatol, 2024 Oct 02.
PMID: 39362618 DOI: 10.1016/j.cgh.2024.07.045

BACKGROUND & AIMS: Metabolic dysfunction-associated steatohepatitis (MASH) and fibrotic MASH are significant health challenges. This multi-national study aimed to validate the acMASH index (including serum creatinine and aspartate aminotransferase concentrations) for MASH diagnosis and develop a new index (acFibroMASH) for non-invasively identifying fibrotic MASH and exploring its predictive value for liver-related events (LREs).
METHODS: We analyzed data from 3004 individuals with biopsy-proven metabolic dysfunction-associated steatotic liver disease (MASLD) across 29 Chinese and 9 international cohorts to validate the acMASH index and develop the acFibroMASH index. Additionally, we utilized the independent external data from a multi-national cohort of 9034 patients with MASLD to examine associations between the acFibroMASH index and the risk of LREs.
RESULTS: In the pooled global cohort, the acMASH index identified MASH with an area under the receiver operating characteristic curve (AUROC) of 0.802 (95% confidence interval [CI], 0.786-0.818). The acFibroMASH index (including the acMASH index plus liver stiffness measurement) accurately identified fibrotic MASH with an AUROC of 0.808 in the derivation cohort and 0.800 in the validation cohort. Notably, the AUROC for the acFibroMASH index was 0.835 (95% CI, 0.786-0.882), superior to that of the FAST score at 0.750 (95% CI, 0.693-0.800; P < .01) in predicting the 5-year risk of LREs. Patients with acFibroMASH >0.39 had a higher risk of LREs than those with acFibroMASH <0.15 (adjusted hazard ratio, 11.23; 95% CI, 3.98-31.66).
CONCLUSIONS: This multi-ethnic study validates the acMASH index as a reliable, noninvasive test for identifying MASH. The newly proposed acFibroMASH index is a reliable test for identifying fibrotic MASH and predicting the risk of LREs.

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