Bail-in credibility: evidence from emerging markets

Purpose Some controversial cases of bail-in in the emerging countries have raised the question about whether for those countries to have in place a regulation for the bail-in is appropriate or not. To assess appropriateness, this paper investigates bail-in credibility among investors, as crucial condition for the credibility's smooth implementation, by measuring the yield spread between bailinable and non-bailinable bonds. Design/methodology/approach The authors compare the yield spread of banks located in emerging countries that have in place a framework for the bail-in to the comparable yield spread measured for banks located in emerging countries without such framework. The comparison permits to detect whether there is a significant difference between the two spreads, which would suggest that bail-in regulation has been deemed credible by market participants where enforced, or not, which in this case would signal a problem of credibility. Findings The authors' results point out a significantly higher yield spread for banks located in emerging countries that have adopted a framework for the bail-in of creditors. Bail-in regulation has, therefore, being deemed credible in the adopting emerging countries, thus ensuring a crucial condition for bail-in regulation's smooth application. The authors also point out bank size and country's gross domestic product (GDP) growth as crucial moderators of bail-in expectations of market participants that can guide the implementation of bail-in rules in emerging countries. Originality/value This paper contributes to the literature on the credibility of bail-in with a new perspective from the emerging countries

The fatigue of carbon fibre reinforced plastics - A review

Engineering structures are often subjected to the conditions of cyclic-loading, which onsets material fatigue, detrimentally affecting the service-life and damage tolerance of components and joints. Carbon fibre reinforced plastics (CFRP) are high-strength, low-weight composites that are gaining ubiquity in place of metals and glass fibre reinforced plastics (GFRP) not only due to their outstanding strength-to-weight properties, but also because carbon fibres are relatively inert to environmental degradation and thus show potential as corrosion resistant materials. The effects of cyclic loading on the fatigue of CFRP are detailed in several papers. As such, collating research on CFRP fatigue into a single document is a worthwhile exercise, as it will benefit the engineering-readership interested in designing fatigue resistant structures and components using CFRP. This review article aims to provide the most relevant and up-to-date information on the fatigue of CFRP. The review focuses in particular on defining fatigue and the mechanics of cyclically-loaded composites, elucidating the fatigue response and fatigue properties of CFRP in different forms, discussing the importance of environmental factors on the fatigue performance and service-life, and summarising the different approaches taken to modelling fatigue in CFRP

Effects of 12-week combined training versus high intensity interval training on cardiorespiratory fitness, body composition and fat metabolism in obese male adults

Background: /Objectives: A weekly combination of a high volume of moderate-intensity continuous training (MICT) with a low volume of high-intensity interval training (HIIT) provides important improvements in body composition and physical capacities in individuals with obesity. However, previous studies did not determine the weekly proportions of HIIT and MICT a priori. This study aimed to investigate changes in body composition, physical capacities and the fat oxidation rate in obese male adults by comparing a combination of MICT and HIIT, called combined training (COMB), with HIIT for a 12-week period. Methods: Thirty-four obese male adults (mean age: 39.4 ± 7.0 y; mean body mass index [BMI] 34.0 ± 4.2 kg m−2) participated in this study (n = 18 for COMB, n = 16 HIIT), attending ∼ 36 training sessions. The COMB group performed 3 repetitions of 2 min at 95% of peak oxygen uptake (V'O2 peak) (e.g., HIIT ≤20%), followed by 30 min at 60% of VO2 peak (e.g., MICT ≥80%). The HIIT group performed 5–7 repetitions of 2 min at 95% of VO2 peak. At baseline (PRE) and at the end of the training period (POST), body composition, VO2 peak, and the fat oxidation rate were measured. The two training programs were equivalent in caloric expenditure. Results: At POST, body mass (BM) and fat mass (FM) decreased by a mean of 3.09 ± 3.21 kg and 3.90 ± 2.40 kg, respectively (P < 0.05), in both groups and V'O2 peak increased in both groups by a mean of 0.47 ± 0.34 L min−1 (P < 0.05). The maximal fat oxidation rate increased similarly in both groups from 0.32 ± 0.05 to 0.36 ± 0.06 g min−1 (P < 0.05). Conclusion: COMB training represents a viable alternative to HIIT to improve anthropometric characteristics, physical capacities and fat oxidation in obese male adults

Quantitative and Qualitative tools for a physical education program that increases inclusion of children with disabilities

Aim: New technologies in PE provide children with the opportunity (a) to improve motor learning and self-efficacy, (b) model and stucture new prospective of the educational process (Clapham et al.,2015). The purpose of this study is to evalute and compare (a) the development of motor coordination of primary school\u2019s children in relation to BMI, (b) effects of strategies that utilize interactive video game technology (T0 vs T1), (c) enjoyment and physical selfefficacy between EG and CG. Methods: The study has been conducted in a primary school of Puglia, Italy. The sample includes 65 children, separated into two groups in relation to sex and BMI: EG (M: 22, age,10.09 \ub1 0.30; F:19, age 10.10 \ub1 0.31) and CG (M: 12, age, 10 \ub1 0.42; F: 12, age 10 \ub1 0.0). The experimental program consists of 10 lessons, using specialised interactive video game technology to point out unusual motor responses. For the CG has been used teaching styles of production. The following tests have been proposed before and after the intervention: MOBAK 5 (Hermann and Seelig 2016), PSP_C (physical self-efficacy) and PACES (enjoyment). Results: Besides the descriptive statistics (M \ub1 DS), T-test was used in order to highlights significative differences between T0-T1, indipendently from sex differences. The significance value was set at p\0.05. Data analysis revealed significative differences between EG for boys and girls about (a) Control Object and Self-Movement (p\0.05); (b) and physical self efficacy scale (p\0.05). Conclusions: The use of modern technologies and different teaching styles in PE promote motor learning and self-efficacy in children. The trail of new and different instruments are needed to enhance educational environments and develop intrinsic motivation to motor activities. References 1. Clapham, E.D. et al. (2015). The Physical Educator. 72,1, 102\u2013116. 2. Hermann, C. & Seelig, H. (2016). Sportwissenschaft

Erosion Mapping of Through-Thickness Toughened Powder Epoxy Gradient Glass-Fiber-Reinforced Polymer (GFRP) Plates for Tidal Turbine Blades

Erosion of tidal turbine blades in the marine environment is a major material challenge due to the high thrust and torsional loading at the rotating surfaces, which limits the ability to harness energy from tidal sources. Polymer-matrix composites can exhibit leading-blade edge erosion due to marine flows containing salt and solid particles of sand. Anti-erosion coatings can be used for more ductility at the blade surface, but the discontinuity between the coating and the stiffer composite can be a site of failure. Therefore, it is desirable to have a polymer matrix with a gradient of toughness, with a tougher, more ductile polymer matrix at the blade surface, transitioning gradually to the high stiffness matrix needed to provide high composite mechanical properties. In this study, multiple powder epoxy systems were investigated, and two were selected to manufacture unidirectional glass-fiber-reinforced polymer (UD-GFRP) plates with different epoxy ratios at the surface and interior plies, leading to a toughening gradient within the plate. The gradient plates were then mechanically compared to their standard counterparts. Solid particle erosion testing was carried out at various test conditions and parameters on UD-GFRP specimens in a slurry environment. The experiments performed were based on a model of the UK marine environment for a typical tidal energy farm with respect to the concentration of saltwater and the size of solid particle erodent. The morphologies of the surfaces were examined by SEM. Erosion maps were generated based on the result showing significant differences for materials of different stiffness in such conditions

Platelet aggregation is affected by nitrosothiols in patients with chronic hepatitis: in vivo and in vitro studies

AIM: To investigate the relationship among the number of platelets and plasma levels of S-nitrosothiols (S-NO), nitrite, total non-protein SH (NPSH), glutathione (GSH), cysteine (CYS), malondialdehyde (MDA), 4-hydroxininenal (4HNE), tumor necrosis factor-alpha (TNFalpha) and interleukin (IL)-6 in patients with chronic hepatitis C (CH). METHODS: In vitro the aggregation of platelets derived from controls and CH patients was evaluated before and after the addition of adenosine diphosphate (ADP) and collagen, both in basal conditions and after incubation with nitrosoglutathione (GSNO). RESULTS: In vivo, S-NO plasma levels increased significantly in CH patients and they were significantly directly correlated with platelet numbers. Patients with platelet counts 150000/microL. In vitro, the ADP and collagen aggregation time was increased in platelets from patients and not from controls; in addition, platelets from CH patients but not from controls also showed a latency time after exposure to collagen

Pharmacological characterization of a new Ca2+ sensitizer

The benzimidazole molecule was modified to synthesize a Ca(2+) sensitizer devoid of additional effects associated with Ca(2+) overload. Newly synthesized compounds, termed 1, 2, 3, 4, and 5, were evaluated in spontaneously beating and electrically driven atria from reserpine-treated guinea pigs. Compound 3 resulted as the most effective positive inotropic agent, and experiments were performed to study its mechanism of action. In spontaneously beating atria, the inotropic effect of 3 was concentration-dependent (3.0 microM-0.3 mM). Compound 3 was more potent and more active than the structurally related Ca(2+) sensitizers sulmazole and caffeine, but unlike them it did not increase the heart rate. In electrically driven atria, the inotropic activity of 3 was well preserved and it was not inhibited by propranolol, prazosin, ranitidine, pyrilamine, carbachol, adenosine deaminase, or ruthenium red. At high concentrations (0.1-1.0 mM) 3 inhibited phosphodiesterase-III, whereas it did not affect Na(+)/K(+)-ATPase, sarcolemmal Ca(2+)-ATPase, Na(+)/Ca(2+) exchange carrier, or sarcoplasmic reticulum Ca(2+) pump activities of guinea pig heart. In skinned fibers obtained from guinea pig papillary muscle and skeletal soleus muscle, compound 3 (0.1 mM, 1 mM) shifted the pCa/tension relation curve to the left, with no effect on maximal tension and no signs of toxicity. Compound 3 did not influence the basal or raised tone of guinea pig isolated aorta rings, whose cells do not contain the contractile protein troponin. The present results indicate that the inotropic effect of compound 3 seems to be primarily sustained by sensitization of the contractile proteins to Ca(2+)

Powder Epoxy for One-Shot Cure, Out-of-Autoclave Applications: Lap Shear Strength and Z-Pinning Study

Large composite structures manufactured out-of-autoclave require the assembly and bonding of multiple parts. A one-shot cure manufacturing method is demonstrated using powder epoxy. Lap shear plates were manufactured from powder epoxy and glass fiber-reinforced plastic with four different bonding cases were assessed: secondary bonding using standard adhesive film, secondary bonding using powder epoxy, co-curing, and co-curing plus a novel Z-pinning method. This work investigates the lap shear strength of the four cases in accordance with ISO 4587:2003. Damage mechanisms and fracture behavior were explored using digital image correlation (DIC) and scanning electron microscopy (SEM), respectively. VTFA400 adhesive had a load at break 24.8% lower than secondary bonding using powder epoxy. Co-curing increased the load at break by 7.8% compared to powder epoxy secondary bonding, with the co-cured and pinned joint resulting in a 45.4% increase. In the co-cured and co-cured plus pinned cases, DIC indicated premature failure due to resin spew. SEM indicated shear failure of resin areas and a large amount of fiber pullout in both these cases, with pinning delaying fracture phenomena resulting in increased lap joint strength. This highlights the potential of powder epoxy for the co-curing of large composite structures out-of-autoclave

C5a receptor and thymocyte apoptosis in sepsis

In sepsis, apoptosis occurs in many different organs. The mediators responsible for induction of apoptosis are not clearly known, although there are some suggestions that C5a and the C5a receptor (C5aR) might be directly linked to apoptosis. In the cecal ligation/puncture (CLP) model of sepsis in rats, apoptosis occurs early in a variety of organs, especially in the thymus. We demonstrate that thymocytes from normal rats show specific, saturable, and high affinity binding of 125Iâ labeled recombinant rat C5a. C5a binding to thymocytes was significantly increased 3 h after CLP and also when thymocytes from normal rats were first incubated in vitro with lipopolysaccharide (LPS) or ILâ 6. The expression of C5aR mRNA in thymocytes was markedly increased 3, 6, and 12 h after CLP and increased similarly when normal thymocytes were first exposed to LPS or ILâ 6 in vitro. Thymocytes obtained 2 or 3 h after CLP and exposed in vitro to C5a, but not normal thymocytes, underwent increased apoptosis, as demonstrated by annexinâ V binding, coinciding with increased activation of caspases 3, 6, and 8. These data provide the first direct evidence that in the early onset of sepsis, increased expression of C5aR occurs in thymocytes, which increases their susceptibility to C5aâ induced apoptosis.Peer Reviewedhttps://deepblue.lib.umich.edu/bitstream/2027.42/154251/1/fsb2fj020033fje-sup-0001.pdfhttps://deepblue.lib.umich.edu/bitstream/2027.42/154251/2/fsb2fj020033fje.pd