Essays on Banking and Corporate Finance

This dissertation consists of two chapters. Chapter 1: The Effect of Relationship Banking on Firm Efficiency This paper analyzes the impact of relationship bank oversight on firm operational efficiency and default risk. I find that a new loan from a relationship bank improves the technical efficiency of inefficient firms that have an elevated probability of default. Moreover, borrowing firms with elevated default risk exposure experience reductions in their probabilities of default in the years following new relationship bank loans, benefiting both banks and borrowers. Thus, the benefits of relationship bank monitoring are most apparent the higher the ex ante default risk and the lower the baseline efficiency of the borrower. Chapter 2: The Intangible Value of Key Talent: Decomposing Organization Capital Specialized firm-specific information, strategies, activities and procedures, identified as organization capital (OC), is comprised of a heterogeneous group of disparate items. We isolate firm value creation by decomposing OC into two endogenously determined components: (1) key talent comprised of disclosed compensation of top executives which creates value and (2) a residual comprised of undisclosed executive perquisites versus agency costs and empire building expenses that do not increase firm value. Whereas the first component is portable, the second is unobservable, and therefore generates rents for shareholders. Thus, only residual OC creates systematic risk exposure, whereas key talent engenders idiosyncratic risk. Furthermore, we find that systematic risk exposure is higher for firms with weak governance

A field-trial of two restorative materials used with atraumatic restorative treatment in rural Turkey: 24-month results

OBJECTIVE: The purpose of this study was to investigate the clinical performance of high-strength glass ionomer cement (HSGIC) and resin-modified glass ionomer (RMGIC) in single and multiple surface carious cavities in the field conditions. MATERIAL AND METHODS: A split-mouth design, including ninety-one fillings placed on contra lateral molar pairs of 37 children, was used in permanent dentition. As filling materials, a HSGIC (Ketac Molar/3M ESPE) and a RMGIC (Vitremer/ 3M ESPE) were used with the Atraumatic Restorative Treatment (ART). Baseline and 6, 12 and 24-month evaluations of the fillings were made with standard-ART and USPHS criteria by two examiners with kappa values of 0.92 and 0.87 for both criteria. RESULTS: According to the USPHS criteria, the retention rates of RMGIC and HSGIC restorations were 100% and 80.9% for single surface, and 100% and 41.2% for multiple surface restorations after 24 months, respectively. Irrespective of surface number, RMGIC was significantly superior to HSGIC (p= 0.004), according to both standard-ART and USPHS criteria. CONCLUSION: The results indicate that RMGIC may be an alternative restorative technique in comparison to high-strength GIC applications in ART-field-trials. However, further clinical and field trials are needed to support this conclusion

Investigating energy consumption and economic growth for BRICS-T countries

Yildirim, Seda/0000-0003-4367-6652; YILDIRIM, Durmus C./0000-0003-4168-2792WOS: 000485872900003Purpose The purpose of this paper is to explore the relationship between energy consumption and economic growth for Brazil, Russia, China, India, South Africa and Turkey (BRICS-T) countries. In this context, this study investigates energy consumption and real output in BRICS-T countries through panel cointegration. Design/methodology/approach The data include energy consumption and real output for BRICS-T countries and period of 1990-2014. The variables are transformed into natural logarithm. To analyze these data, this study employed Pedroni cointegration test, the second-generation panel cointegration test, Westerlund and Edgerton (2008) test and FMOLS test. Findings Results indicate that there is a bi-directional causality relationship between energy consumption and economic growth for BRICS-T countries. An increase in GDP leads to an increase in energy consumption and an increase in energy consumption leads to an increase in GDP. Originality/value This study provides important evidence that countries with strong growth performance need to follow bi-directional energy policies to increase both energy investments and ensure energy savings

Transcatheter Closure Of Coronary Artery Fistula With An Amplatzer Duct Occluder Ii In A Symptomatic Infant

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The Origin of Military Radiology Use of X-Rays During the Late Ottoman Era

After its discovery by WC. Roentgen by the end of 1895, X-Rays were immediately used for medical and surgical purposes to detect foreign objects within the human body due to injuries and/or gunshots, which inspired discussions over its functionality in military surgery. X-Rays were first used in the beginning of 1896 at the British River Wars in Nile, Egypt. In May 1896, the Italian Doctor Guiseppe Alvaro took two wounded soldiers from Ethiopia to Italy and shot radiographies of them by making use of X-Rays in the Naples Military Hospital. He published his observations in Giornale Medico del Regio Esercito. Before Alvaro's piece, an article had been published in Medizinische Wohenschrift, on February 4, 1896 about the use of X-Rays on the wounded soldiers in the Prussian Army

Spontaneous rupture of unscarred uterus at 27 weeks of gestation

Spontaneous rupture of a gravid uterus is a life-threatening obstetric emergency with high maternal mortality and morbidity, perinatal mortality and loss of future fertility as hysterectomy maybe inevitable in most cases. Most spontaneous uterine ruptures occur during labor in parturients with a scarred uterus. Rupture of unscarred uterus is a rare event involving 1/17,000 - 20,0000 and occur more frequently in older multiparous patients [1 - 3]. Here, we present a case of spontaneous rupture of uterus in a primigravid woman which was successfully repaired

Prevention of maternal bacterial transmission on children's dental-caries-development: 4-year results of a pilot study in a rural-child population

ERCAN, Ertugrul/0000-0002-4753-6553WOS: 000248111400007PubMed: 17321488Aim: Dental caries with its bacterial agent is an infectious disease, and shows a vertical transmission. The control of bacterial transmission of Mutans streptococci (MS) from mother to child has been studied, and its results on their children's caries development, and on their siblings' bacterial levels, have been analysed in a field-trial (for 4 years) in rural area. Material and methods: In the same tribe, 8 mothers and their 11 children (test children [TC]), and then (following years) their 9 siblings (test sibling [TSb]), were followed for 4 years. The study started when the TC group had just started to erupt. Test mothers were subjected to a preventive regime. Examination of caries development as well as determination of plaque levels of MS in TC and TSb were carried out annually and at 6-month intervals. At the end of 4 years, two control groups (control children [CC] and control siblings [CSb]) resembling TC and TSb were selected from the other tribe living in the same village, and bacterial data and caries status were compared to both test groups. Results: Microbial data demonstrated that the test children (p < 0.01) and test siblings (p < 0.05) had significantly low bacterial level in plaque samples. Accordingly, TC had significantly low dmf-t and -s number compared to corresponding control group (p < 0.001 for dmf-t, p < 0.0001 for dmf-s). Conclusion: The preventive regimen was applicable in rural southeastern Anatolia, where an introverted life style with a great tribal system is prevailing, any other preventive measures may have been practical or available, and babies are basically cared by mothers. (C) 2007 Elsevier Ltd. All rights reserved

Bond strength of metal brackets to feldspathic ceramic treated with different surface conditioning methods: an in vitro study

WOS:000618359700001Purpose To compare MEP which is originally manufactured for increasing bond strength between organic resins and ceramic with conventional surface treatment methods in preparation of leucite-reinforced FC surfaces regarding shear bond strength (SBS) of stainless steel brackets and the mode of bond failure. Materials and Methods Forty specimens that were fabricated from FC material and glazed were randomly assigned to four surface conditioning methods: (1) CoJet Sand; (2) MEP; (3) HF acid etching followed by silane coupling agent; (4) Diamond bur followed by silane coupling agent. The SBS was determined using universal testing machine. Bond failure sites were classified according to Adhesive Remnant Index (ARI). Results No statistically significant difference (p>0.05) was found in SBS between the groups while significant intergroup differences were detected concerning ARI scores (p<0.001). Group 1 had ARI score 1 and 2 indicating mode of failure at the adhesive interface with greater percentage of the adhesive left on bracket base. The other groups had higher frequency of ARI score 3 and 2. The quantity of the ARI retained on the ceramic surface was highest in Group 3, followed by Group 4 and Group 2. Conclusion MEP can be a suitable alternative for bonding metal brackets to FC surface

Spontaneous Pneuomothorax in A Pregnant Patient Leading to Fetal Demise

Spontaneous pneumothorax rarely occurs during pregnancy. The most common cause is the rupture of a subpleural apical bulla or bleb, due to the increased respiratory demand of the peripartum period. Respiratory failure is the main risk for the mother; fetal risks include reduction in oxygen supply and preterm labor. Here, we present a case of spontaneous pneumothorax in pregnancy leading to fetal demise