Bank business model migrations in Europe: determinants and effects

In response to post-crisis regulatory reforms, the European banking sector has undergone significant changes that have led banks to reconsider their strategies, structures and operations. Based on a sample of over 3,000 banks from 32 European countries during the period 2010–2017, we identify banks’ business models based on cluster analysis and track their evolution.We then apply a logistic regression and find that banks with higher risk and lower profitability are more likely to change their business model. Employing a propensity score matching approach, we investigate the effect of migration on bank performance and find that changing the business model affects banks positively (i.e. migrating banks increase their profitability, stability and cost efficiency). The effect of migration differs depending on the target business model. When switches are a consequence of being acquired or motivated by regulatory compliance, the positive impact remains

Bank Business Model Migrations in Europe: Determinants and Effects

In response to the post-crisis regulatory reforms, the European banking sector has undergone significant changes that have led banks to reconsider their strategies, structures, and operations. Based on a sample of over 3,000 banks from 32 European countries during the period 2010-2017, we identify banks' business models based on cluster analysis and track their evolution. We then apply a logistic regression and find that banks with higher risk and lower profitability are more likely to change their business model. Employing a propensity score matching approach, we investigate the effect of migration on bank performance and find that changing the business model affects banks positively, i.e., migrating banks increase their profitability, stability, and cost-efficiency. The effect of migration differs depending on the target business model. When switches are a consequence of being acquired or motivated by regulatory compliance, the positive impact remains

Acute Modulation of Adipose Tissue Lipolysis by Intravenous Estrogens

Objective: The aim of this study was to determine whether intravenous (IV) conjugated estrogens (EST) acutely enhance the suppression of whole-body or regional subcutaneous adipose tissue (SAT) lipolysis by insulin in postmenopausal women. Research Methods and Procedures: We assessed whole-body lipolysis by [2H5]glycerol rate of appearance (GlycRA) and abdominal and femoral SAT lipolysis (interstitial glycerol; GlycIS) by subcutaneous microdialysis. Postmenopausal women (n = 12) were studied on two occasions, with IV EST or saline control (CON), under basal conditions and during a 3-stage (4, 8, and 40 mU/m2/ min) hyperinsulinemic, euglycemic clamp. Ethanol outflow/inflow ratio and recovery of [13C] glycerol during microdialysis were used to assess blood flow changes and interstitial glycerol concentrations, respectively. Results: Compared with CON, EST did not affect systemic basal or insulin-mediated suppression of lipolysis (GlycRA) or SAT nutritive blood flow. Basal GlycIS in SAT was reduced on the EST day. However, insulin-mediated suppression of lipolysis in SAT was not significantly influenced by EST. Discussion: These findings suggest that estrogens acutely reduce basal lipolysis in SAT through an unknown mechanism but do not alter whole-body or SAT suppression of lipolysis by insulin. Originally published Obesity (Silver Spring), Vol. 14, No. 12, Dec 200

Adherence issues related to sublingual immunotherapy as perceived by allergists

Objectives: Sublingual immunotherapy (SLIT) is a viable alternative to subcutaneous immunotherapy to treat allergic rhinitis and asthma, and is widely used in clinical practice in many European countries. The clinical efficacy of SLIT has been established in a number of clinical trials and meta-analyses. However, because SLIT is self-administered by patients without medical supervision, the degree of patient adherence with treatment is still a concern. The objective of this study was to evaluate the perception by allergists of issues related to SLIT adherence. Methods: We performed a questionnaire-based survey of 296 Italian allergists, based on the adherence issues known from previous studies. The perception of importance of each item was assessed by a VAS scale ranging from 0 to 10. Results: Patient perception of clinical efficacy was considered the most important factor (ranked 1 by 54% of allergists), followed by the possibility of reimbursement (ranked 1 by 34%), and by the absence of side effects (ranked 1 by 21%). Patient education, regular follow-up, and ease of use of SLIT were ranked first by less than 20% of allergists. Conclusion: These findings indicate that clinical efficacy, cost, and side effects are perceived as the major issues influencing patient adherence to SLIT, and that further improvement of adherence is likely to be achieved by improving the patient information provided by prescribers. © 2010 Scurati et al, publisher and licensee Dove Medical Press Ltd

Liquid crystal comb polymer with polar mesogenic and aliphatic side groups - II. Noise of the scattered light

Measurements of static light scattering and of the stationary noise of the scattered light have been performed as functions of temperature on the comb polymer whose synthesis and static structural properties are discussed in the preceding paper, Part I. The intrinsic optical noise strongly increases when the nematic phase is entered. An additional maximum in the noise, observed at lower temperatures, is attributed to a rearrangement of optical domains, introducing boundary regions where the fluctuations of loosely packed side groups are enhanced. The spectral density of the observed noise is definitely non-Lorentzian and can be fitted by the superposition of two pure Lorentzian components with different cut-off frequencies, attributed to the statistically independent random motion of mesogenic and aliphatic side chains. The noise level is reduced at all temperatures by an applied electrical field; in particular, the field is effective in selectively damping the fluctuations of polar side groups

Liquid crystal comb polymer with polar mesogenic and aliphatic side groups - I. Preparation and structural properties

A liquid crystal comb polymer of potential interest for electro-optical applications has been synthesized and characterized. The polymer has a polyacrylamide main chain and two different types of side group, built up of 4'-undecanoyloxy-4-cyanobiphenyl groups (68 mol%) and of shorter aliphatic groups (32 mol%). The two types of side group occur randomly along the polymer's main chain. The preparation steps and the liquid crystalline structure of the resulting copolymer are compared with those of a homopolymer whose side groups ( built up of 4'-undecanoyloxy-4-cyanobiphenyl groups) are all identical. X-ray diffraction shows that the polymers display different mesophases over different temperature ranges. However, the homopolymer exhibits two smectic phases (SmC(2) and SmA(2)), while the new copolymer exhibits a SmC(2) phase and a nematic mesophase at higher temperature. The mesophase thermal stability of the copolymer is significantly lower than that of the homopolymer

House dust mite allergy and shrimp allergy: a complex interaction.

Background and objective. Sensitization and allergy to shrimp among Italian house dust mite allergic patients are not well defined and were investigated in a large multicenter study. Methods. Shrimp sensitization and allergy were assessed in 526 house dust mite (HDM)-allergic patients submitted to the detection of IgE to Der p 10 and 100 atopic controls not sensitized to HDM. Results. Shrimp allergy occurred in 9% of patients (vs 0% of 100 atopic controls not sensitized to HDM; p < 0.001). Shrimp-allergic patients were less frequently hypersensitive to airborne allergens other than HDM than crustacean-tolerant subjects (35% vs 58.8%; p < 0.005). Only 51% of tropomyosin-sensitized patients had shrimp allergy, and these showed significantly higher Der p 10 IgE levels than shrimp-tolerant ones (mean 22.2 KU/l vs 6.2 KU/l; p < 0.05). Altogether 53% of shrimp-allergic patients did not react against tropomyosin. Conclusions. Shrimp allergy seems to occur uniquely in association with hypersensitivity to HDM allergens and tropomyosin is the main shrimp allergen but not a major one, at least in Italy. Along with tropomyosin-specific IgE levels, monosensitization to HDM seems to represent a risk factor for the development of shrimp allergy among HDM allergic patients