Lending Relationships in Germany: Empirical Results from Survey Data

We examine empirically the role of lending relationships in determining the collateral requirements, costs and availability of external funding. The data originate from a recently concluded survey of small and medium-sized German firms. In our descriptive analysis, we explore the borrowing patterns and the concentration of borrowing from financial institutions. Using data on line of credit (L/C) interest rates, collateral requirements, and the firms’ use of fast payment discounts we find that relationship variables may have some bearing on the price of external funds, but much more so on loan collateralization and availability. Firms in financial distress face comparatively high L/C interest rates and reduced credit availability. ZUSAMMENFASSUNG - (Kreditbeziehungen in Deutschland: Empirische Ergebnisse einer Unternehmensbefragung) Unter Verwendung eines für Deutschland einzigartigen Querschnittsdatensatzes untersuchen wir in diesem Papier empirisch den Einfluß von Bankbeziehungen auf die Kosten und die Verfügbarkeit von Bankkrediten. Die Daten wurden im Jahre 1997 bei 1509 kleinen und mittleren Unternehmen (KMU) erhoben. In einer ersten deskriptiven Analyse werden Finanzierungsmuster und Verschuldungskonzentration dargestellt. Detaillierte Angaben zu Kontokorrent- und Lieferantenkrediten ermöglichen es uns, in einer mikroökonomischen Analyse die Einflußfaktoren auf die Kosten und die Verfügbarkeit von Krediten zu bestimmen. Demnach scheinen Bankbeziehungen einen wesentlich stärkeren Einfluß auf die Verfügbarkeit als auf die Preisgestaltung von Krediten zu haben. Außerdem führen finanzielle Schwierigkeiten eines Unternehmens zu einer Verteuerung von Kontokorrentkrediten und einer sinkenden Kreditverfügbarkeit.

A Look behind the Scenes

The worldview (Weltbild) in ancient times was clearly structured in terms of centre (temple and city) and a periphery (chaotic surroundings) on the horizontal level and height and depth (for example God's mountain and the pillars of the earth) on the vertical level. The experience of the natural world in terms of topography or geography supplements this cosmological model; and this orientation is held as also being relevant for the mythical world or the gateways to it. Dreams and visions are a phenomenon that unlocks worldview. The three examples chosen give an idea about a world in order, which includes the netherworld. Enkidu's dream of the netherworld is such an example. Even in a situation of suffering and distress the world is under control of the gods. Without the constraints of space, humans are able to see and to get an overall picture of the natural world, the mythical world, and the world beyond as one. In times of crisis, as Israel experienced it during the exile, dreams and visions allow a new world view. The pictorial programme, for example in the visions of the prophets Ezekiel and Zechariah, organize what seems to be in disparate states and give orientation. Centre and periphery can be defined anew

Avaliação da atividade tripanocida e leishmanicida de produtos naturais da flora mato-grossense

TCC(graduação) - Universidade Federal de Santa Catarina. Centro de Ciências Biológicas. Biologia.O arsenal quimioterápico disponível para o tratamento da Doença de Chagas e das Leishmanioses é restrito a poucos fármacos, os quais apresentam eficácia limitada e efeitos colaterais indesejáveis. A biodiversidade de plantas brasileiras representa uma rica fonte para a busca por novos compostos com potencial antiparasitário. Neste estudo, 20 extratos, 8 frações e 2 compostos isolados da flora mato-grossense foram avaliados. As amostras foram solubilizadas em DMSO (50mg/ml) e mantidas a 4o C até o uso. Promastigotas de Leishmania amazonensis (cepa 575) e L. chagasi (cepa PP75), e epimastigotas de Trypanosoma cruzi (cepa Y) (5x106 parasitos/ml), mantidos respectivamente em meio Schneider e LIT, forma incubados em triplicata em placas de 96 orifícios a 26o C com diferentes concentrações dos produtos naturais (1,6 a 1000 μg/ml). Após 72h de incubação, a atividade contra T. cruzi foi determinada pela contagem do número de parasitos vivos em câmara de Neubauer, e a atividade leishmanicida foi determinada pelo método de MTT. Anfotericina B (0,1μM) e Benzonidazol (10μg/ml), e DMSO 1% foram usados como controles positivo e negativo, respectivamente. Os produtos ativos contra epimastigotas de T. cruzi foram incubados com tripomastigotas sanguíneos (1x106 parasitos/ml) a 4o C, usando cristal violeta e DMSO 1% como controles positivo e negativo, e a sobrevivência dos parasitos foi determinada após 48h. A avaliação in vitro da atividade leishmanicida contra amastigotas intracelulares foi realizada com células J774-A1 infectadas com L. amazonensis em placas de 96 orifícios na presença de diferentes concentrações dos produtos naturais por 48 horas. As monocamadas foram fixadas com metanol e coradas com Giemsa, e o número de amastigotas intracelulares foi determinado pela avaliação randômica de 200 células. A citotoxicidade das amostras ativas foi avaliada usando células J774-A1 (2x104 células/orifício) pelo método de MTT. Todos os ensaios forma realizados duas vezes, em triplicata. Dois extratos hexânicos (Xilopia aromatica e Aspidosperma cuspa) e uma fração (“Ipê Pimenta”) apresentaram atividade tripanocida contra epimastigotas (CI50 = 87,07; 66,41 e 100,46 μg/ml, respectivamente), e o extrato hexânico de A. cuspa foi ativo contra tripomastigotas sangüíneos (CI50 = 150,62 μg/ml). Quatro extratos hexânicos (X. aromatica, Bowdichia virgiloides, A. cuspa e Acosmium dasycarpum), duas frações de Zanthoxylum hasslerianum e o composto isolado Cumarina foram ativos contra promatigotas de L. amazonensis (CI50 = 15,52 – 120,9 μg/ml) e L. chagasi (CI50 = 3,976 – 166,40 μg/ml). Desses, apenas o extrato hexânico de A. dasycarpum não apresentou atividade em testes com amastigotas intracelulares de L. amazonensis, sendo que os demais produtos testados apresentaram inibição acima de 40% nas concentrações de 1,6, 8 e 40 μg/ml. Nenhum dos extratos ativos foi citotóxico para células J774-A1 acima de 90 μg/ml.The chemotherapy arsenal available for treatment of Chagas disease and leishmaniasis is restricted to few drugs which presented limited efficacy and show undesirable side effects. The Brazilian plant biodiversity represents a rich source of new potential antiparasitic compounds. In this study the trypanocidal and leishmanicidal activity of 20 extracts, 8 fractions and 2 isolated compounds from Mato Grosso State plants was evaluated. Samples were solubilized in DMSO (50mg/ml) and maintained at 4ºC until use. Promastigotes of Leishmania amazonensis (575 strain) and L. chagasi (PP75 strain), and epimastigotes of Trypanosoma cruzi (Y strain) (5x106 cells/ml), maintained respectively in Schneider’s and LIT medium, were incubated in triplicate in 96-well microplates at 26ºC with different concentrations of natural products (1.6 to 1,000μg/ml). After 72h of incubation, the activity was determined by counting the number of live parasites in Neubauer chambers (T. cruzi) and by MTT method (Leishmania sp). Amphotericin B (0.1μM) and Benzonidazol (10μg/ml), and DMSO 1% were used as positive and negative controls, respectively. Products active against epimastigotes were incubated with blood trypomastigotes (1x106 cells/ml) at 4oC, using violet cristal and DMSO 1% as positive and negative controls, and survival parasites determined after 48h. The in vitro evaluation of leishmanicidal activity against intracellular amastigotes was realized by using J774.A1 cultures infected with L. amazonensis in 96-well plates in the presence of different natural products dilutions for 48 hours. The monolayers were fixed with methanol and Giemsa stained, and intracellular amastigote numbers were determined in 200 randomly chosen cells. Citotoxicity of active extracts was evaluated using J774.A1 cells (2x104 cells/well) by the MTT method. All assays were performed two times in triplicate. Two tested hexanic extracts (Xilopia aromatica and Aspidosperma cuspa) and a fraction (“Ipê Pimenta”) showed trypanocidal activity for epimastigotes (IC50 = 87.07; 66.41 e 100.46 μg/ml, respectively) and hexanic extract of A. cuspa was active against blood trypomastigotes (IC50 = 150.62 μg/ml).. Four hexanic extracts (X. aromatica, Bowdichia virgiloides, A. cuspa and Acosmium dasycarpum), two fractions of Zanthoxylum hasslerianum and the isolated compound Coumarin were active against L. amazonensis (IC50 = 15.52 – 120.9 μg/ml) and L. chagasi (IC50 = 3.976 – 166.40 μg/ml) promastigotes. From this, only the hexanic extract of A. dasycarpum didn’t show activity on tests with L. amazonensis intracelular amastigotes, and the other tested products showed inhibition up to 40% on 1.6, 8 and 40 μg/ml. The extracts, fractions and isolated compounds apresent low citotoxicity for J774.A1 cells up to 90 μg/ml

Die Rolle von Interleukin-10 und Thrombospondin-1 bei der Narbenbildung nach Myokardinfarkt in einem Mausmodell

Durch intensive Forschung auf dem Gebiet der myokardialen Ischämie wurde deutlich, dass der myokardiale Schaden durch Reperfusion limitiert und die Überlebenswahrscheinlichkeit des Patienten dadurch erhöht wird. Dabei bestimmt die auf die myokardiale Ischämie folgende pathophysiologische Reaktion, die als Remodeling bezeichnet wird, entscheidend den weiteren Verlauf der Herzerkrankung. Maßgeblich für ein ordnungsgemäßes Remodeling ist die Entzündungseaktion und die zeitgemäße Inhibition der Inflammation. Zum besseren Verständnis der inflammatorischen Reaktion und den Mechanismen der Inhibition derselben durch die Einleitung der Fibrosebildung nach myokardialer I/R wurde in dieser Arbeit die Beteiligung der anti-inflammatorischen Zytokine IL-10 und TGF-β sowie seines Aktivators TSP-1 beim Remodeling nach Myokardinfarkt anhand eines Mäusemodells der I/R sowohl an WT-, IL-10-/--, TSP-1-/-- als auch an mit TGF-β-Antikörpern behandelten WT-Mäusen untersucht. IL-10-/--Mäuse zeigten in dieser Studie eine den WT-Mäusen zeitlich identische Wundheilung. In den molekularbiologischen Untersuchungen der mRNA-Expression konnten bei IL-10-/--Mäusen in der frühen Reperfusionsphase sogar weniger pro-inflammatorische TNF-α- und MCP-1-mRNA nachgewiesen werden als bei den WT-Mäusen. Diesen Ergebnissen zufolge scheint IL-10 keine kritische anti-inflammatorische Rolle bei der Zellmigration, Fibrose- und Narbenbildung im reperfundierten Myokardinfarkt zu spielen. Die Gabe von TGF-β-Antikörpern hatte ebenso keinen Einfluss auf die Zellmigration und Narbenbildung im reperfundierten Myokardinfarkt, was vermutlich auf den unzureichenden Wirkungsgrad des Antikörpers zurückzuführen ist. Die TSP-1-/--Mäuse zeigten dagegen eine protrahierte und über die Randzone des Infarktes expandierende Makrophagen- und Myofibroblasten-Akkumulation, die von einer signifikant höheren und verlängerten Expression pro-inflammatorischer Zytokine und Chemokine begleitet wurde. Das TSP-1 könnte daher eine Funktion in der Randzonenbildung zwischen ischämischem und nicht ischämischem Myokard besitzen sowie durch Modulation der Entzündung, Zellmigration und Fibrosebildung zur ordnungsgemäßen Narbenbildung nach Myokardinfarkt beitragen. Zusammenfassend konnte in der vorliegenden Arbeit eine wichtige Rolle für TSP-1 in der Randzonenbildung nach Myokardinfarkt aufgezeigt werden. Dagegen wurde kein Einfluss von IL-10 auf das myokardiale Remodeling nach Myokardinfarkt gefunden, da dieser wahrscheinlich in Abhängigkeit des Stimulus und des beteiligten Zelltyps nur selektiv und organspezifisch zu finden ist. Weitere Studien sind notwendig um die Bedeutung und Modulation der Entzündungsreaktion auf dem Gebiet der myokardialen Ischämie und Reperfusion besser zu verstehen um sie dann auch therapeutisch beeinflussen zu können

Clonagem e expressão da enzina tripanotiona redutase de Leishmania braziliensis e atividade leishmanicida de chalconas

Dissertação (mestrado) - Universidade Federal de Santa Catarina, Programa de Pós-graduação em Biotecnologia, Florianópolis, 2011O presente estudo teve por objetivo avaliar atividade leishmanicida in vitro de chalconas trimetoxiladas contra formas promastigotas de cultura e amastigotas intracelulares de L. braziliensis e L. chagasi em células da linhagem J744-A1 e macrófagos murinos derivados de medula. Além disso, foi realizada a clonagem e a expressão da enzima tripanotiona redutase de L. braziliensis com o objetivo de implementar uma metodologia para avaliação de compostos inibidores desta enzima. Trinta e cinco das 70 chalconas avaliadas mostraram atividade leishmanicida contra formas promastigotas, com CI50 variando de 1,31 a 32,54 µM, e oito destas mostraram índices de seletividade maiores que 20 contra formas promastigotas de L. braziliensis e L. chagasi. Nos ensaios contra formas amastigotas intracelulares de L. braziliensis na linhagem J744-A1, as chalconas M10 e M30 apresentaram CI50 de 0,13 e 0,34 µM, respectivamente, sendo as mais seletivas para o parasito. Em macrófagos murinos infectados a CI50 variou de 2,2 a 6,5 µM para L. braziliensis e de 2,4 a 8,7 µM para L. chagasi. De maneira geral, a espécie dermotrópica mostrou-se mais sensível que a viscerotrópica aos compostos. A expressão da tripanotiona redutase recombinante de L. braziliensis (LbTR) resultou em uma proteína de 53,5kDa. A atividade biológica da enzima foi confirmada pela redução do substrato (tripanotiona) e sua inibição pelos compostos padrão (clomipramina e ácido gálico). Ensaios de inibição in vitro da atividade enzimática com as 8 chalconas ativas mostraram que apenas dois compostos (D08 e M17) foram capazes de inibir moderadamente a atividade da enzima (58% e 63%). As chalconas trimetoxiladas apresentaram um potente efeito leishmanicida in vitro, constituindo-se em moléculas protótipo promissoras para o desenvolvimento de novos agentes leishmanicidas

Lending relationships in Germany - Empirical evidence from survey data

We examine empirically the role of lending relationships in determining the costs and collateral requirements for external funds. The data originate from a recently concluded survey of small and medium-sized German firms. In our descriptive analysis, we explore the borrowing patterns and the concentration of borrowing from financial institutions. Using data on L/C interest rates, collateral requirements, and the firm's use of fast payment discounts we find that relationship variables may have some bearing on the price of external funds, but much more so on loan collateralization and availability. Firms in financial distress face comparatively high L/C interest rates and reduced credit availability

A case study for a multitemporal segmentation approach in optical remote sensing images.

Continuous observations from remote sensors provide high temporal and spatial resolution imagery, and better remote sensing image segmentation techniques are mandatory for efficient analysis. Among them, one of the most applied segmentation techniques is the region growing algorithm. Within this context, this paper describes a study case for a multitemporal segmentation that adapts the traditional region growing technique. Our method aims to detect homogeneous regions in space and time observing a sequence of optical remote sensing images. Tests were conducted by considering the Dynamic Time Warping distance as the homogeneity criterion to grow regions. A case study on high temporal resolution for sequences of Landsat-8 vegetation indices products provided satisfactory outputs.GEOProcessing 2018