Measuring bank efficiency: DEA application

The paper aims to improve the methodology of measuring efficiency of Latvian banks. Efficiency scores were calculated with application of non-parametric frontier technique Data Envelopment Analysis (DEA). Input-oriented DEA model under Variable Returns to Scale (VRS) assumption was used. Potential model variables were selected based on the intermediation and profitability approach. Fourteen alternative models with different inputs-outputs combinations were developed for the research purposes. To substantiate the variables selection for DEA model the received data was processed, using such methods, as correlation analysis, linear regression analysis, analysis of mean values, and two-samples Kolmogorov-Smirnov test. The research results assisted the authors in providing general recommendations about the variables selection for DEA application in the Latvian banking sector. The present research contributes to the existing analytical data on bank performance in Latvia. The empirical findings provide a background for further studies, in particular, the efficiency of Latvian banks could be analysed in the extended time period

Molecular DNA identity of the mouflon of Cyprus (Ovis orientalis ophion, Bovidae): Near Eastern origin and divergence from Western Mediterranean conspecific populations

The mouflon population of Cyprus (Ovis orientalis ophion) comprises historically preserved feral descendants of sheep domesticated during the Neolithic. We determined genetic identity of this taxon in order to elucidate its systematic placement and enforce its protection. We used 12 loci of microsatellite DNA to infer genetic relationships between the Cypriot mouflon and either long-time isolated (Corsica, Sardinia) or recently introduced (central Italy) European mouflons (O. o. musimon). We also sequenced the mitochondrial DNA (mtDNA) Cytochrome-b gene to infer the origin of the Cypriot mouflon including many National Centre for Biotechnology Information (NCBI) entries of European and Near Eastern conspecifics. Microsatellites disclosed net divergence between Western Mediterranean and Cypriot mouflon. The latter was included in the highly heterogeneous Near Eastern O. orientalis mtDNA group, Iran representing the most credited region as the source for its ancient introduction to Cyprus. Both international and national legislation protect the mouflon of Cyprus as a wild taxon (O. o. ophion). However, the IUCN Red List of Threatened Species and NCBI include the Cypriot mouflon as subspecies of its respective domestic species, the sheep (O. aries). Unfortunately, people charged with crime against protected mouflon may benefit from such taxonomic inconsistency between legislation and databases, as the latter can frustrate molecular DNA forensic outcomes. Until a definitive light can be shed on Near Eastern O. orientalis systematics, we suggest that the Cypriot mouflon should be unvaryingly referred to as O. o. ophion in order not to impair conservation in the country where it resides

Effect of posture change on the geometric features of the healthy carotid bifurcation

Segmented cross-sectional MRI images were used to construct 3-D virtual models of the carotid bifurcation in ten healthy volunteers. Geometric features, such as bifurcation angle, internal carotid artery (ICA) angle, planarity angle, asymmetry angle, tortuosity, curvature, bifurcation area ratio, ICA/common carotid artery (CCA), external carotid artery (ECA)/CCA, and ECA/ICA diameter ratios, were calculated for both carotids in two head postures: 1) the supine neutral position; and 2) the prone sleeping position with head rotation to the right (∼80°). The results obtained have shown that head rotation causes 1) significant variations in bifurcation angle [32% mean increase for the right carotid (RC) and 21% mean decrease for the left carotid (LC)] and internal carotid artery angle (97% mean increase for the RC, 43% mean decrease for the LC); 2) a slight increase in planarity and asymmetry angles for both RC and LC; 3) minor and variable curvature changes for the CCA and for the branches; 4) slight tortuosity changes for the braches but not for the CCA; and 5) unsubstantial alterations in area and diameter ratios (percentage changes < 10). The significant geometric changes observed in most subjects with head posture may also cause significant changes in bifurcation hemodynamics and warrant future investigation of the hemodynamic parameters related to the development of atherosclerotic disease such as low oscillating wall shear stress and particle residence times

Regulating the catalytic properties of Pt/Al2O3 through nanoscale inkjet printing

For the first time ever, a 0.1 wt% Pt/Al2O3 catalyst was prepared by novel inkjet printing and compared against two catalysts prepared by a standard and modified wet impregnation method. The printed catalyst was found to present excellent activity and wide operating temperature window on the selective catalytic reduction of NO by H2 under strongly oxidizing conditions (H2-SCR) in the very low-temperature range of 100–200 °C. The transient studies performed in the present work indicated that the printing process followed led to a unique surface structure of the printed catalyst that probably favors the formation of different active intermediate NOx species, which are active at very low reaction temperatures. Moreover, it was found that the inkjet printing protocol followed resulted in a relatively uniform nano-spherical structure of the developed catalyst

Pilot-scale biogas and in-situ struvite production from pig slurry: A novel integrated approach

Excess ammonia produced during the decomposition of nitrogen-rich substrates inhibits the anaerobic digestion (AD) process while it increases the concentration of ammonium nitrogen (NH4+) in the digestate. Digestate is commonly applied to farmland, causing nitrogen loss via runoff and volatilization. Therefore, developing an integrated strategy to promote the overall efficiency of AD systems susceptible to ammonia toxicity events, is worthy of consideration. Herein, a step-feeding approach to combat ammonia toxicity in AD process in which, intermittent rather than continuous substrate feeding was tested. A pilot-scale, mesophilic (37 ± 1 °C), fed-batch AD reactor (working volume ∼ 6.67 m3), was operated as the biomethanation step in a novel biorefinery concept, to recover bioenergy and nutrients (struvite) from pig slurry. The results showed that methane production yield achieved was 89.7 % of the theoretical at high ammonia levels (4.44 g NH4+-N L−1), indicating an efficient AD process under strong ammonia stress. The production rate of precipitate was 4.0 kg t−1 feedstock, while X-Ray Diffraction analysis revealed that purity of struvite crystal was 98 % w/w. Orthorhombic crystals and homogeneous distribution of significant elements (O, P, N, and Mg) in the precipitate were observed through scanning electron microscopy coupled with energy dispersive X-ray analysis. Recoveries of nitrogen and phosphorus were 48.5 % and 68.5 % from the digestate, respectively. Furthermore, the chemical and sanitary (i.e., Escherichia coli, Enterobacteriaceae and Salmonella) indicators of the precipitate were in line with the EU Fertilizer Regulation. Overall, the obtained results indicate that it is possible to establish an integrated efficient nutrient and energy recovery process for the simultaneous production of high-yield biogas and high-purity struvite fertilizer from pig slurry, which could yield a gross profit of 5.79 € t−1 feedstock

Country survey military expenditure in Cyprus

Cyprus, a small island state, gained independence from British colonial rule in 1960. For more that half its history as an independent state Cyprus has been under occupation following the 1974 Turkish invasion. Despite the fact that it has faced war, invasion and occupation, Cyprus has allocated a comparatively small proportion of its national income to defence. The average defence burden—military expenditure as a share of GDP—during 1964-98 was around 2.5%. However, as a result of a substantial shift in defence policy during the past decade or so, the defence burden during the 1990s has increased, averaging about 4% of GDP as Cyprus decided to implement an extensive military modernization program aiming to present a more credible military deterrence vis-a-vis Turkey. Empirical estimations of a demand function for Cypriot military expenditure suggest that it is positively affected by alliance spillins and external military threat.Military expenditure, Cyprus,

Dea Application In Banking: Relationship Between Efficiency Scores And Bank Size

The paper aims to investigate the relationship between banks’ size and efficiency scores. The study applies Data Envelopment Analysis (DEA) as a tool for measuring bank relative efficiency. Sample includes European banks and the data for the analysis was extracted form BankScope data base. Intermediation approach to banking has taken as a conceptual basis for the choice of variables. Input-oriented DEA model under the assumption of variable returns to scale (VRS) was applied. Besides, the relationship between bank efficiency scores and traditional performance ratios was examined. The paper contributes to the existing literature, filling the gap in regard to bank efficiency measuring in new member states of the European Union

Hemodynamic analysis of a compliant femoral artery bifurcation model using a fluid structure interaction framework

The influence of wall motion on the hemodynamic characteristics of the human femoral bifurcation and its effects on the development of peripheral artery disease has not been previously investigated. This study aimed in investigating the hemodynamics of a compliant patient-specific femoral artery bifurcation model by a fluid structure interaction (FSI) scheme. The complex physiological geometry of the femoral artery bifurcation was reproduced from sequentially obtained transverse CT scan images. Velocity waveforms derived from phase contrast MR images were extracted and mapped to define boundary conditions. Equations governing blood flow and wall motion were solved using an FSI framework that utilizes commercial codes: FLUENT for computational fluid dynamics and ANSYS for computational structural dynamics. The results showed that wall compliance decreased flow velocities at the relatively high curvature geometries including common and superficial femoral artery (SFA), and it created strong recirculation in the profunda femoris artery close to the bifurcation. In the SFA region near the apex, time averaged wall shear stress (TAWSS) differences up to 25% between compliant and rigid models were observed. The compliant model also exhibited lower TAWSS and oscillatory shear at the superior section of the common femoral artery close to the bifurcation. The presence of wall motion, however, created minor differences in the general flow-field characteristics. We conclude that wall motion does not have significant influence on the global fluid dynamic characteristics of the femoral artery bifurcation. Longer arterial segments need to be simulated to see the effect of wall motion on tortuousity which was previously cited as an important factor in the development of atherosclerosis at the femoral artery