The performance effects of board heterogeneity: What works for EU banks?

We examine the impact of board heterogeneity on the performance of EU listed banks in the wake of the global financial crisis. In a comprehensive set-up, we consider standard board features (type, tenure, size, and age of board members) as well as board diversity features (gender diversity, employee representation, internationalisation, and age diversity). We propose a diversity index, which summarises the different dimensions of diversity and control for unobserved heterogeneity and reverse causality. Our analysis uncovers a complex relationship between board heterogeneity and bank performance, which is influenced by market conditions and by national culture. Overall board diversity does not seem to affect bank performance, but it does decrease performance variability during the Eurozone crisis and in countries culturally more open to diversity. Different board and diversity features have a positive impact on bank performance (size, tenure, and employee representation); the relationship is non-linear, with the effect of diversity being more relevant when there is a significant proportion of minority representatives. While substantial board internationalisation has a negative impact on bank performance, the presence of foreign directors appears to be less detrimental during the Eurozone crisis and in countries that are more welcoming towards diversity

substrate induced effects in thin films of a potential magnet composed of metal free organic radicals deposited on si 111

We deposit a paramagnetic pyrene derivative of the nitronyl nitroxide radical on Si(111). The molecules experience a strong chemical interaction with the substrate that influences the film growth. We also study the time evolution of the nitronyl nitroxide radical under a micro-focused soft X-ray beam, observing a stable radical as a product. This result hints at the possibility of using this class of materials in dosimeters and sensors

Bank fragility and contagion: Evidence from the bank CDS market

Understanding how contagion works among financial institutions is a top priority for regulators and policy makers who aim to foster financial stability and to prevent financial crises. Using bank credit default swap (CDS) data, we provide a framework for the evaluation of contagion among banks in different countries and regions during a period of prolonged financial distress. We measure contagion in terms of return spillovers, following a Generalized VAR (GVAR) approach. In addition, we propose an innovative framework to distinguish between two types of contagion: systematic (linked to global factors), and idiosyncratic (linked to bank specific factors). We find evidence of both types of contagion, although the spillover dynamics changed over time. Our measure of systematic contagion is always greater than the idiosyncratic component, thus highlighting the importance of common factors in the propagation of risk spillovers. This indicates that international linkages among banking markets are central to the transmission of shocks

Epigenetic mechanisms in oral cancer: new diagnostic and therapeutic strategies

Complexity and heterogeneity are frequently present during the development and progression of carcinogenesis and, in the last 15 years, significant progress made in clinical research underlines the role of some epigenetic mechanisms. The most important characteristics of the epigenetic concept are that these events are reversible, not related to modifications in the structure of DNA and may drive fundamental cell signaling alterations1. Among these systems of communication in normal and pathological conditions, also microbiome and staminal cells2 seem to be important. These new profiles of pathological communication develop novel diagnostic, prognostic and therapeutic tool

CORRELATION BETWEEN CHRONIC MUCOSAL TRAUMA AND ORAL CANCER: A CASE REPORT AND REVIEW OF THE LITERATURE

Abstract – Objective: Squamous cell carcinoma is the most common malignancy in the oral cavity representing the 90% of all oral malignancies that affect oral cavity. Primary risk factors associated with oral cancer are alcohol and tobacco consumption. However, other emerging risk factors have been proposed in Literature, including chronic trauma of the oral mucosa related to dental prostheses and incongruous restorations. Therefore, the aim of this study was to review the literature on the correlation between oral carcinoma and chronic irritative trauma, with the help of a case report and with focus on clinical features and differential diagnosis. Materials and Methods: A literature search on MEDLINE, PubMed, ScienceDirect, Cochrane Database of Systematic Reviews and Wiley InterScience was performed, using the following words: Oral Cancer, chronic Trauma and Denture Trauma in various combinations. Results: The review produced 1356 results, but only 8 articles met the inclusion criteria and were involved in the review. No association has been proven between chronic mucosal trauma and oral cancer. Carcinoma has been shown to develop more frequently in trauma regions, particularly in the tongue. As for the data on the gender and age of affected patients, it emerges that most of the greatest incidence occurs around the sixth and seventh decade of life and men are more affected than women. Conclusions: Due to the heterogeneity of the different studies and the strong presence of other factors such as smoking and alcohol, the role of trauma in carcinogenesis is unclear. Further molecular, epidemiological and case-control studies are needed to define this correlation. It is advisable to carry out more restricted checks in patients at risk with dental prostheses

Integration, productivity and technological spillovers: Evidence for eurozone banking industries

In the context of the current debate on increased integration of eurozone banking markets following the global financial and sovereign debt crises, this paper evaluates the impact of regulatory reform, starting from the inception of the Single Market in 1992, on bank productivity and assesses the cross-border benefits of integration in terms of technological spillovers. We utilise a parametric meta-frontier Divisia index to estimate productivity change and identify technological gaps. We then assess the extent to which productivity converges within and across banking industries as a result of technological spillovers. Our results suggest that productivity growth has occurred for eurozone countries, driven by technological progress, both at the country and the supra-country level, although the latter slows or in some cases reverses since the onset of the crisis. Technological spillovers do exist, and have led to progression toward the best technology. However, convergence is not complete and significant long run differences in productivity persist. Improvements in technology are increasingly concentrated in fewer banking industries

Synchrotron radiation photoionization mass spectrometry of laser ablated species

The present paper describes an experimental apparatus suitable to create and study free clusters by combining laser ablation and synchrotron radiation. First tests on sulfur samples, S, showed the production, through laser ablation, of neutral Sn clusters (n = 1–8). These clusters were ionized using synchrotron radiation at photon energies from 160 eV to 175 eV, across the S 2p core edge. The feasibility of such combined ablation–synchrotron radiation experiments is demonstrated, opening new possibilities on the investigation of free clusters and radical