The importance of internal and external factors in defining the profitability of UK insurance companies

Purpose: The purpose of this paper is to examine empirically the influence of internal and external factors on the performance of UK insurance enterprises. Design/Methodology/Approach: To do so, we use a sample composed of 20 insurance enterprises during the period from 2000 to 2018. We employ the panel data estimation to capture the impact of internal and external factors on the performance of UK insurance enterprises. We use two measures of performance such as, ROA and ROE. Findings: Our results show that the size of firm, liquidity, GDP, CPI and WTI have a positive and significant effect on the performance of UK insurance enterprises. But, we find that leverage, asset turnover and interest rate present negative and considerable impact on the profitability of UK insurance enterprises. Practical Implications: The findings of our paper can be considered as a beneficial for insurance enterprises, directors, representatives, and shareholders in making decision and improving the profitability of their organizations. Originality/value: The significant extension of our study is the using of a panel data to examine the effect of internal and external factors on the performance of UK insurance enterprises by employing two measures of performance such as ROA and ROE.peer-reviewe

Yttrium oxide passivation of porous silicon for improved photoluminescence and optoelectronic properties

This paper reports on the effect of yttrium oxide as a novel treatment to improve the photoluminescence intensity and stability of porous silicon (PS). Yttrium oxide (Y2O3) was incorporated into the PS layers by impregnation method using a saturated aqueous solution. The penetration of Yttrium into the PS microstructure was examined using the Energy Dispersive X-ray spectrometry (EDS) and the Backscattered Electron Detector (BED-C) for composition imaging and analysis. The morphology of the front surface was studied using a Field Emission Scanning Electron Microscope (FESEM). The deposited yttrium oxide onto the PS layers was thermally activated to passivate efficiently the silicon dangling bonds, and prevent the porous silicon from huge oxidation. The photoluminescence (PL) peak intensity of impregnated PS was increased noticeably compared to the as-prepared untreated PS. Unlike the as-prepared PS photoluminescence dependence with aging, the yttrium-passivated PS layers PL peak shows no shifts during aging allowing a high stability. Furthermore, we obtained a significant improvement of the effective minority lifetime (Teff) after a short anneal at 600 °C, while increasing the temperature reduces noticeably the passivation properties. The improved surface passivation experienced after the thermal annealing can be ascribed to yttrium diffusion into the PS layer, with a resulting redistribution of yttrium oxide and subsequent passivation of silicon dangling bonds in the sub-interface region, this was confirmed by EDS analysis. The internal quantum efficiency (IQE) measurements were performed to study the optoelectronic properties of the processed monocrystalline silicon substrates

Thylakoid proteome variation of Eutrema salsugineum in response to drought and salinity combined stress

It is well known that plant responses to stress involve different events occurring at different places of the cell/leaf and at different time scales in relation with the plant development. In fact, the organelles proteomes include a wide range of proteins that could include a wide range of proteins showing a considerable change in cellular functions and metabolism process. On this basis, a comparative proteomics analysis and fluorescence induction measurements were performed to investigate the photosynthetic performance and the relative thylakoid proteome variation in Eutrema salsugineum cultivated under salt stress (200 mM NaCl), water deficit stress (PEG) and combined treatment (PEG + NaCl) as a hyperosmotic stress. The obtained results showed a significant decrease of plant growth under drought stress conditions, with the appearance of some toxicity symptoms, especially in plants subjected to combined treatment. Application of salt or water stress alone showed no apparent change in the chlorophyll a fluorescence transients, primary photochemistry (fluorescence kinetics of the O-J phase), the PQ pool state (J-I phase changes), (Fv/Fm) and (Fk/Fj) ratios. However, a considerable decrease of all these parameters was observed under severe osmotic stress (PEG + NaCl). The thylakoid proteome analysis revealed 58 proteins showing a significant variation in their abundance between treatments (up or down regulation). The combined treatment (PEG + NaCl) induced a decrease in the expression of the whole PSII core subunit (D1, D2, CP43, CP47, PsbE and PsbH), whereas the OEC subunits proteins remained constant. An increase in the amount of PsaD, PsaE, PsaF, PsaH, PsaK and PsaN was detected under drought stress (PEG5%). No significant change in the accumulation of Cyt b6 and Cyt f was observed. Some regulated proteins involved in cellular redox homeostasis were detected (glutamine synthetase, phosphoglycerate kinase, transketolase), and showed a significant decrease under the combined treatment. Some oxidative stress related proteins were significantly up-regulated under salt or drought stress and could play a crucial role in the PSI photoprotection and the control of ROS production level

Optoelectronic and stability properties of quasi-2D alkylammonium based perovskites

Electronic and stability properties of quasi-2D alkylammonium perovskites are investigated using density functional theory (DFT) calculations and validated experimentally on selected classes of compounds. Our analysis is focused on perovskite structures of formula (A)$_2$(A$'$)$_{n-1}$Pb$_n$X$_{3n+1}$, with large cations A = butyl-, pentyl-, hexylammonium (BA, PA, HXA), small cations A$'$ = methylammonium, formamidinium, ethylammonium, guanidinium (MA,FA,EA,GA) and halogens X = I, Br, Cl. The role of the halogen ions is outlined for the band structure, stability and defect formation energies. Two opposing trends are found for the absorption efficiency versus stability, the latter being assessed with respect to possible degradation mechanisms. Experimental validation is performed on quasi-2D perovskites based on pentylammonium cations, namely: (PA)$_2$PbX$_4$ and (PA)$_2$(MA)Pb$_2$X$_7$, synthesized by antisolvent-assisted vapor crystallization. Structural and optical analysis are inline with the DFT based calculations. In addition, the thermogravimetric analysis shows an enhanced stability of bromide and chloride based compounds, in agreement with the theoretical predictions.Comment: 8 pages, 8 figure

Altered versican cleavage in ADAMTS5 deficient mice : a novel etiology of myxomatous valve disease

AbstractIn fetal valve maturation the mechanisms by which the relatively homogeneous proteoglycan-rich extracellular matrix (ECM) of endocardial cushions is replaced by a specialized and stratified ECM found in mature valves are not understood. Therefore, we reasoned that uncovering proteases critical for ‘remodeling’ the proteoglycan rich (extracellular matrix) ECM may elucidate novel mechanisms of valve development. We have determined that mice deficient in ADAMTS5, (A Disintegrin-like And Metalloprotease domain with ThromboSpondin-type 1 motifs) which we demonstrated is expressed predominantly by valvular endocardium during cardiac valve maturation, exhibited enlarged valves. ADAMTS5 deficient valves displayed a reduction in cleavage of its substrate versican, a critical cardiac proteoglycan. In vivo reduction of versican, in Adamts5−/− mice, achieved through Vcan heterozygosity, substantially rescued the valve anomalies. An increase in BMP2 immunolocalization, Sox9 expression and mesenchymal cell proliferation were observed in Adamts5−/− valve mesenchyme and correlated with expansion of the spongiosa (proteoglycan-rich) region in Adamts5−/− valve cusps. Furthermore, these data suggest that ECM remodeling via ADAMTS5 is required for endocardial to mesenchymal signaling in late fetal valve development. Although adult Adamts5−/− mice are viable they do not recover from developmental valve anomalies and have myxomatous cardiac valves with 100% penetrance. Since the accumulation of proteoglycans is a hallmark of myxomatous valve disease, based on these data we hypothesize that a lack of versican cleavage during fetal valve development may be a potential etiology of adult myxomatous valve disease

iTRAQ proteomic analysis of extracellular matrix remodeling in aortic valve disease

Degenerative aortic stenosis (AS) is the most common worldwide cause of valve replacement. The aortic valve is a thin, complex, layered connective tissue with compartmentalized extracellular matrix (ECM) produced by specialized cell types, which directs blood flow in one direction through the heart. There is evidence suggesting remodeling of such ECM during aortic stenosis development. Thus, a better characterization of the role of ECM proteins in this disease would increase our understanding of the underlying molecular mechanisms. Aortic valve samples were collected from 18 patients which underwent aortic valve replacement (50% males, mean age of 74 years) and 18 normal control valves were obtained from necropsies (40% males, mean age of 69 years). The proteome of the samples was analyzed by 2D-LC MS/MS iTRAQ methodology. The results showed an altered expression of 13 ECM proteins of which 3 (biglycan, periostin, prolargin) were validated by Western blotting and/or SRM analyses. These findings are substantiated by our previous results demonstrating differential ECM protein expression. The present study has demonstrated a differential ECM protein pattern in individuals with AS, therefore supporting previous evidence of a dynamic ECM remodeling in human aortic valves during AS development

Reproductive biology of the cockle Cerastoderma glaucum (Mollusca: Bivalvia)

The reproductive cycle of the cockle Cerastoderma glaucum from the Gulf of Gabes (southern Tunisia) was studied during a one-year period (January to December 2007). The overall samples presented a balanced sex ratio, with males dominating among smaller individuals and females predominating in larger size classes. Males were found to mature between 12 and 20 mm shell length (SL), whereas females matured between 14 and 21 mm SL. The size at which 50% of the population reached maturity was 15.14 and 16.78 mm SL for males and females, respectively. The seasonal changes assessed through macro- and microscopic properties in the gonads of both sexes indicated a clearly defined annual reproductive cycle. Reproductive activity of C. glaucum was greatest from spring to late autumn, with two reproductive peaks (May and November). Gametogenic activity in both sexes was apparently triggered by the rising seawater temperature during spring and summer. These results support previous findings of latitudinal changes in the reproductive behaviour of C. glaucum. Due to the extensive period of gonadal activity, C. glaucum exhibited a short resting phase that occurred simultaneously in both sexes throughout January and February. Upon inspection for parasitic infections, 15% of C. glaucum were found infected by digenean trematode species. The number of specimens showing digenean infestations differed with size class, with a tendency to increase significantly with cockle size

The effect of ultrasonic wave amplitude on the physical properties of zinc oxide (ZnO) deposited by ultrasonic spray method

International audienceIn this study, high quality zinc oxide (ZnO) thin films, with improved properties, were prepared by a cost-effective ultrasonic spray pyrolysis technique via a careful optimization of the used ultrasonic wave amplitude. The deposition process was performed on glass substrate and were subsequently annealed at 400 °C. We investigated the effect of various ultrasonic wave amplitude on the structural, surface morphology, optical and electrical properties of the obtained thin films, after varying the applied wave amplitude. Furthermore, deposited thin films were studied by means of XRD, UV–vis spectrophotometer, scanning electron microscope, and four-point probe technique. XRD analysis confirmed that obtained ZnO thin films have polycrystalline structure and a wurtzite (hexagonal) phase, with a c-axis preferred orientation (0 0 2). The crystallite size was about 23–30 nm. The SEM micrographs of the surface morphology show uniform, homogenous and dense films with granular structures. The films thicknesses were found to be dependent on the used wave amplitude; they were ranged from 184 to 423.5 nm. In addition, the optical properties of the deposited thin films reveal that the films are highly transparent in the visible region above 80%, while the value of energy band gap varies from 3.24 to 3.27 eV. The Electrical properties investigation revealed a resistivity around 10-3 Ω.cm, showing also a non negligible dependency with the wave amplitude tuning. We obtained an improvement in the carrier concentration (1.6 × 1020–3.9 × 1020 cm−3) and mobility (4.2–15 cm2/V.s) with the ultrasonic wave amplitude rising. High quality ZnO thin films with enhanced properties are in demand and have a large wide of applications in optoelectronics and solar cells. © 2021 Elsevier B.V