Information Disclosure, Market Discipline and the Management of Bank Capital: Evidence from the Chinese Financial Sector

Is there evidence that market forces effectively discipline risk management behaviour within Chinese financial institutions? This study analyses information from a comprehensive sample of Chinese banks over the 1998-2008 period. Market discipline is captured through the impact of four sets of factors namely, market concentration, interbank deposits, information disclosure, and ownership structure. We find some evidence of a market disciplining effect in that: (i) higher (lower) levels of market concentration lead banks to operate with a lower (higher) capital buffer; (ii) joint-equity banks that disclose more information to the public maintain larger capital ratios; (iii) full state ownership reduces the sensitivity of changes in a bank's capital buffer to its level of risk;(iv) banks that release more transparent financial information hold more capital against their non-performing loans. © 2010 Springer Science+Business Media, LLC.

Staphylococcus epidermidis device-related infections: pathogenesis and clinical management

Staphylococcus epidermidis, the most frequently isolated coagulase-negative staphylococcus, is the leading cause of infection related to implanted medical devices (IMDs). This is directly related to its capability to establish multilayered, highly structured biofilms on artificial surfaces. At present, conventional systemic therapies using standard antimicrobial agents represent the main strategy to treat and prevent medical device-associated infections. However, device-related infections are notoriously difficult to treat and bacteria within biofilm communities on the surface of IMDs frequently outlive treatment, and removal of the medical device is often required for successful therapy. Importantly, major advances in this research area have been made, leading to a greater understanding of the complexities of biofilm formation of S. epidermidis and resulting in significant developments in the treatment and prevention of infections related to this member of the coagulase-negative group of staphylococci. This review will examine the pathogenesis of the clinically significant S. epidermidis and provide an overview of the conventional and emerging antibiofilm approaches in the management of medical device-associated infections related to this important nosocomial pathogen.

Durability and water absorption properties of surface treated concretes

Durability of concrete can be improved by applying surface treatments. Pore-lining treatments prevent or delay the ingress of water-borne salts while allowing vapour transfer across the concrete surface. The most common pore-liners are silanes and siloxanes; both reported to give good results. One area of concern, however, is variability in effectiveness of the treatment. This variability may be due to inconsistent coverage or extreme drying conditions. With care these can be controlled but another source of variability which is difficult to control is the moisture profile within the concrete at the time of application of the treatment. This paper describes a test programme to assess the sensitivity of three different surface treatments to moisture gradient in the concrete at the time of application of treatment. The test programme included durability parameters such as chloride ingress, corrosion due to chloride ingress, freeze-thaw salt scaling resistance. Water absorption (sorptivity) of treated and untreated concretes was also measured with a non-distructive test technique called Autoclam with the aim of determining if the Autoclam sorptivity test can be used to assess the effectiveness of surface treatments. Using these results it is possible to avoid, or allow for, moisture conditions which would adversely affect the success of a pore-liner. However there are advantages in specifying an expected performance of the surface treatment rather than specifying the conditions in which it must be placed. By this method a treatment would have to achieve a specified value of sorptivity or a specified reduction in sorptivity. Failure to do so would be an objective basis on which to make a decision of whether or not to reject the treatment. The Autoclam is a device capable of measuring sorptivity values down to the range typical of surface treated concrete. The paper assesses if the device can be used to discriminate between acceptable treatment and unsatisfactory treatments.

Stroke presentation and hospital management: comparison of neighbouring healthcare systems with differing health policies.

Background: Acute stroke care is shaped by healthcare policies. Differing policies in similar populations allow for assessment of policy impact on health and healthcare outcomes. Aims: To compare stroke presentation and hospital care in two adjacent healthcare systems with differing healthcare policies. Methods: Interviews and chart review of consecutive acute stroke admissions in Northern Ireland (n=103) and the Republic of Ireland (n=100). Results: Marked regional contrasts were evident for key aspects of hospital care. Northern Ireland performed significantly better on 15 of 16 quality of care (Sentinel Audit) items. Delivery on standards was significantly better in Northern Ireland for early assessment (Northern Ireland 72%; Republic of Ireland 54%, p

'Ontological insecurity' and 'terror management' Linking two free-floating anxieties

In this article, we seek to clarify and develop the concept of ontological insecurity by linking it to the better developed, empirical literature on 'terror management theory' in social psychology. We argue that the understanding of both ontological insecurity and terror management can be improved through this overdue integration. In particular, merging these literatures can have important explanatory power when it comes to understanding punitive attitudes. The considerable body of empirical evidence that has been gathered to validate the proposition behind terror management theory can be understood as providing indirect support for the concept of ontological insecurity on an individual level. On the other hand, the macrosociological research on ontological insecurity provides the largely decontextualized, laboratory-based literature on terror management with a well-developed understanding of why 'terror management' has become increasingly important in late modern society.

Influence of Sous Vide and Water Immersion Processing on Polyacetylene Content and Instrumental Color of Parsnip (Pastinaca sativa) Disks

The effect of blanching (95 ± 3 °C) followed by sous vide (SV) processing (90 °C for 10 min) on levels of two polyacetylenes in parsnip disks immediately after processing and during chill storage was studied and compared with the effect of water immersion (WI) processing (70 °C for 2 min.). Blanching had the greatest influence on the retention of polyacetylenes in sous vide processed parsnip disks resulting in significant decreases of 24.5 and 24% of falcarinol (1) and falcarindiol (2) respectively (p < 0.05). Subsequent SV processing did not result in additional significant losses in polyacetylenes compared to blanched samples. Subsequent anaerobic storage of SV processed samples resulted in a significant decrease in 1 levels (p < 0.05) although no change in 2 levels was observed (p > 0.05). 1 levels in WI processed samples were significantly higher than in SV samples (p = 0.05). 2 was particularly susceptible to aerobic storage following WI processing with losses of up to 70% occurring after 5 days storage. 1 type polyacetylene undergoes degradation such as oxidation, dehydrogenation when thermally treated forming oxidized form of 1 type molecules, in this case falcarindione, dehydrofalcarinol, dehydrofalcarinone. Thermal processing had a significant effect on instrumental color of parsnip samples compared to minimally processed in both SV and WI processed samples resulting in parsnip disks becoming darker, yellower and browner following processing and storage.

Evaluation of effective groundwater recharge of freshwater lens in small islands by the combined modeling of geoelectrical data and water heads

In small islands, a freshwater lens can develop due to the recharge induced by rain. Magnitude and spatial distribution of this recharge control the elevation of freshwater and the depth of its interface with salt water. Therefore, the study of lens morphology gives useful information on both the recharge and water uptake due to evapotranspiration by vegetation. Electrical resistivity tomography was applied on a small coral reef island, giving relevant information on the lens structure. Variable density groundwater flow models were then applied to simulate freshwater behavior. Cross validation of the geoelectrical model and the groundwater model showed that recharge exceeds water uptake in dunes with little vegetation, allowing the lens to develop. Conversely, in the low-lying and densely vegetated sectors, where water uptake exceeds recharge, the lens cannot develop and seawater intrusion occurs. This combined modeling method constitutes an original approach to evaluate effective groundwater recharge in such environments.
[Comte, J.-C., O. Banton, J.-L. Join, and G. Cabioch (2010), Evaluation of effective groundwater recharge of freshwater lens in small islands by the combined modeling of geoelectrical data and water heads, Water Resour. Res., 46, W06601, doi:10.1029/2009WR008058.]

Platinum Group Metals and Their Oxides in Semiconductor Photosensitisation BASIC PRINCIPLES, METAL PHOTODEPOSITION AND WATER PHOTOSPLITTING REACTIONS

The basic principles of semiconductor photochemistry, particularly using titania as a semiconductor photocatalyst, are discussed. When a platinum group metal or its oxide is deposited onto the surface of a sensitised semiconductor the overall efficiency of the reactions it takes part in are often improved, especially when the deposits are used as hydrogen and oxygen catalysts, respectively. Methods of depositing metal or metal oxide are examined, and a particular focus is given to a photodeposition process that uses a sacrificial electron donor. Platinum group metal and platinum group metal oxide coated semiconductor photocatalysts are prominent in heterogeneous systems that are capable of the photoreduction, oxidation and cleavage of water. There is a recent renaissance in work on water-splitting semiconductor-sensitised photosystems, but there are continued concerns over their irreproducibility, longevity and photosynthetic nature.

Fasciolicides: Efficacy, actions, resistance and its management

The modes of action of fasciolicides are described. Closantel and other salicylanilides interfere with energy metabolism by uncoupling oxidative phosphorylation in the fluke. Other fasciolicides are believed to have a metabolic action-halogenated phenols (via uncoupling) and clorsulon (via inhibition of glycolysis)-but direct evidence is lacking. Benzimidazoles (in particular, riclabendazole) bind to fluke tubulin and disrupt microtubule-based processes. Diamphenethide inhibits protein synthesis in the fluke. Other potential drug actions may contribute to overall drug efficacy. In particular, a number of fasciolicides-salicylanilides, phenols, diamphenethide-induce a rapid paralysis of the fluke, so their action may have a neuromuscular basis, although the actions remain ill-defined. Resistance to salicylanilides and triclabendazole has been detected in the field, although drug resistance does not appear to be a major problem yet. Strategies to minimize the development of resistance include the use of synergistic drug combinations, together with the design of integrated management programmes and the search for alternatives to drugs, in particular, vaccines. (C) 1999 Harcourt Publishers Ltd.

Performance of Unsaturated Compacted Clay Under Repeated Loading Effects of Confining Pressure, Initial Compaction Effort and Water Content

While a significant number of geotechnical structures are subjected to static loading, many, such as avement subgrade, also are subjected to cyclic or dynamic loading. While the performance of saturated soils under repeated, cyclic or dynamic loading conditions is still a topic of research, similar interests are growing when the soilcondition is unsaturated. This paper examines the performance of unsaturated soils under repeated loading. As part of the research, a triaxial system was developed which incorporates small strain measurements using Hall-effect transducers, in addition to suction measurements taken using a psychrometer. Tests were conducted on samples of kaolin under constant water mass conditions. The results address the effects of compaction effort and water content at the time of compaction on the overall performance of unsaturated soils, under different amplitudes of loading and different confining pressures. The results show that suction in the sample reduced with increasing number of loading cycles of the same magnitude. The resilient modulus initially increased with increasing water content up to approximately optimum water content, and substantially reduced with further increase in water content. Key Words: suction, resilient modulus, subgrade, repeated loading, small strain measurements, compaction.