Corporate Risk Management in Slovenian Firms

In today’s competitive environment the modern firm increasingly focuses on identifying, measuring and managing various risk exposures. Risk management is interwoven with the firm’s business strategy and impacts considerably on its competitive position. Thus, management should develop an integrated approach to address it. Although hedging using derivatives accounts for just one part of such an approach, the article solely covers financial risk management using derivatives. Namely, it is found that even Slovenian blue-chip firms still have room to improve as they have only recently started to use derivatives. The article reviews some of the most interesting characteristics and practices of modern Slovenian financial risk management departments and provides a practically oriented case-study which describes the important steps a risk manager must take to hedge commodity price exposure.risk management, derivatives, corporate finance, hedging accounting, reporting, supervision, auditing

Online Search Tool for Graphical Patterns in Electronic Band Structures

We present an online graphical pattern search tool for electronic band structure data contained within the Organic Materials Database (OMDB) available at https://omdb.diracmaterials.org/search/pattern. The tool is capable of finding user-specified graphical patterns in the collection of thousands of band structures from high-throughput ab initio calculations in the online regime. Using this tool, it only takes a few seconds to find an arbitrary graphical pattern within the ten electronic bands near the Fermi level for 26,739 organic crystals. The tool can be used to find realizations of functional materials characterized by a specific pattern in their electronic structure, for example, Dirac materials, characterized by a linear crossing of bands; topological insulators, characterized by a "Mexican hat" pattern or an effectively free electron gas, characterized by a parabolic dispersion. The source code of the developed tool is freely available at https://github.com/OrganicMaterialsDatabase/EBS-search and can be transferred to any other electronic band structure database. The approach allows for an automatic online analysis of a large collection of band structures where the amount of data makes its manual inspection impracticable.Comment: 8 pages, 8 figure

Pay for Performance from Future Fund Flows: The Case of Private Equity

Lifetime incomes of private equity general partners are affected by their current funds’ performance through both carried interest profit sharing provisions, and also by the effect of the current fund’s performance on general partners’ abilities to raise capital for future funds. We present a learning-based framework for estimating the market-based pay for performance arising from future fundraising. For the typical first-time private equity fund, we estimate that implicit pay for performance from expected future fundraising is approximately the same order of magnitude as the explicit pay for performance general partners receive from carried interest in their current fund, implying that the performance-sensitive component of general partner revenue is about twice as large as commonly discussed. Consistent with the learning framework, we find that implicit pay for performance is stronger when managerial abilities are more scalable and weaker when current performance contains less new information about ability. Specifically, implicit pay for performance is stronger for buyout funds compared to venture capital funds, and declines in the sequence of a partnership’s funds. Our framework can be adapted to estimate implicit pay for performance in other asset management settings in which future fund flows and compensation depend on current performance.Private equity; Venture capital; Fundraising; Compensation; Incentives

Ferrite post in a rectangular wave guide

A thin circular ferrite post magnetized lengthwise is placed in a rectangular wave guide with its axis normal to the direction of propagation of the incident waves. The polarization is such that the electric vector is parallel to the post. The reflected and transmitted waves are calculated both with respect to their intensities and phases. The results are also applied to find the influence of a thin ferrite post upon the resonant frequency of a rectangular cavity

The validity and internal structure of the bipolar depression rating scale (BDRS): data from a clinical trial of N-acetylcysteine as adjunctive therapy in bipolar disorder

Background: The phenomenology of unipolar and bipolar disorders differ in a number of ways, such as the presence of mixed states and atypical features. Conventional depression rating instruments are designed to capture the characteristics of unipolar depression and have limitations in capturing the breadth of bipolar disorder.Method: The Bipolar Depression Rating Scale (BDRS) was administered together with the Montgomery Asberg Rating Scale (MADRS) and Young Mania Rating Scale (YMRS) in a double-blind randomised placebo-controlled clinical trial of N-acetyl cysteine for bipolar disorder (N = 75).Results: A factor analysis showed a two-factor solution: depression and mixed symptom clusters. The BDRS has strong internal consistency (Cronbach\u27s alpha = 0.917), the depression cluster showed robust correlation with the MADRS (r = 0.865) and the mixed subscale correlated with the YMRS (r = 0.750).Conclusion: The BDRS has good internal validity and inter-rater reliability and is sensitive to change in the context of a clinical trial.<br /

Stage managing bipolar disorder.

OBJECTIVES: Clinical staging is widespread in medicine - it informs prognosis, clinical course, and treatment, and assists individualized care. Staging places an individual on a probabilistic continuum of increasing potential disease severity, ranging from clinically at-risk or latency stage through first threshold episode of illness or recurrence, and, finally, to late or end-stage disease. The aim of the present paper was to examine and update the evidence regarding staging in bipolar disorder, and how this might inform targeted and individualized intervention approaches. METHODS: We provide a narrative review of the relevant information. RESULTS: In bipolar disorder, the validity of staging is informed by a range of findings that accompany illness progression, including neuroimaging data suggesting incremental volume loss, cognitive changes, and a declining likelihood of response to pharmacological and psychosocial treatments. Staging informs the adoption of a number of approaches, including the active promotion of both indicated prevention for at-risk individuals and early intervention strategies for newly diagnosed individuals, and the tailored implementation of treatments according to the stage of illness. CONCLUSIONS: The nature of bipolar disorder implies the presence of an active process of neuroprogression that is considered to be at least partly mediated by inflammation, oxidative stress, apoptosis, and changes in neurogenesis. It further supports the concept of neuroprotection, in that a diversity of agents have putative effects against these molecular targets. Clinically, staging suggests that the at-risk state or first episode is a period that requires particularly active and broad-based treatment, consistent with the hope that the temporal trajectory of the illness can be altered. Prompt treatment may be potentially neuroprotective and attenuate the neurostructural and neurocognitive changes that emerge with chronicity. Staging highlights the need for interventions at a service delivery level and implementing treatments at the earliest stage of illness possible

Screening of the antioxidant, antimicrobial and DNA damage protection potentials of the aqueous extract of Asplenium ceterach DC.

In this study, in vitro antioxidant, antimicrobial and DNA damage protection potentials of the aqueous extract of Asplenium ceterach was firstly evaluated in addition to its total phenolic and flavonoid contents. Antioxidant activity was determined by five complementary test systems named β- carotene/linoleic acid, 1,1-diphenyl-2-picrylhydrazyl (DPPH) free radical scavenging, reducing power, chelating effect and phosphomolibdenum methods. Except for chelating effect assay, the extract exhibited remarkable activity potential. Antimicrobial activity was determined by agar-well diffusion and minimum inhibitory concentration tests. In this case, Shigella dysenteriae and Staphylococcus aureus were found to be the most sensitive microorganisms. According to the electrophoretic pattern of pBR322 plasmid DNA after treatment with UV and H2O2, supercoiled DNA was successfully protected in the presence of 20 mg/ml or above concentrations of aqueous extract.Key words: Antioxidant activity, antimicrobial activity, DNA damage protection, Asplenium ceterach