Managing bank liquidity hoarding during uncertain times : The role of board gender diversity

This paper examines the effect of executive board gender diversity on the relationship between economic policy uncertainty (EPU) and bank liquidity hoarding (LH). We focus on the Russian banking sector, which, relative to most of the world, has a high share of women on bank executive boards. Using the news-based EPU index developed by Baker, Bloom, and Davis (2016) and LH measures proposed by Berger, Guedhami, Kim, and Li (2022), we exploit a unique dataset from the Russian banking sector. While higher economic policy uncertainty tends to increase liquidity hoarding, we find that this effect diminishes as the gender diversity of the board increases. We attribute this finding to the moderating influence of gender diversity on stability and overreaction in decision-making. Additionally, we find that the channel through which board gender diversity affects the impact of economic policy uncertainty on liquidity hoarding takes place via the hoarding of liquid assets. Our findings are robust to the use of alternative measures for economic policy uncertainty and gender diversity and hold after addressing endogeneity concerns. As women are still significantly under-represented on bank boards in most countries, these results argue for policies to promote gender diversity on bank boards as a means of limiting the detrimental effects of economic policy uncertainty.© 2024 New York University Salomon Center. This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.fi=vertaisarvioitu|en=peerReviewed

Exotic eigenvalues and analytic resolvent for a graph with a shrinking edge

We consider a metric graph consisting of two edges, one of which has length $\varepsilon$ which we send to zero. On this graph we study the resolvent and spectrum of the Laplacian subject to a general vertex condition at the connecting vertex. Despite the singular nature of the perturbation (by a short edge), we find that the resolvent depends analytically on the parameter $\varepsilon$. In contrast, the negative eigenvalues escape to minus infinity at rates that could be fractional, namely, $\varepsilon^0$, $\varepsilon^{-2/3}$ or $\varepsilon^{-1}$. These rates take place when the corresponding eigenfunction localizes, respectively, only on the long edge, on both edges, or only on the short edge.Comment: 17 pages, 1 figur

An exploration of the extent and nature of reconceptualisation of pain following pain neurophysiology education: a qualitative study of experiences of people with chronic musculoskeletal pain

AbstractThe mitochondrial permeability transition is an inner mitochondrial membrane event involving the opening of the permeability transition pore concomitant with a sudden efflux of matrix solutes and breakdown of membrane potential. The mitochondrial FoF1 ATP synthase has been proposed as the molecular identity of the permeability transition pore. The likeliness of potential pore-forming sites in the mitochondrial FoF1 ATP synthase is discussed and a new model, the death finger model, is described. In this model, movement of a p-side density that connects the lipid-plug of the c-ring with the distal membrane bending Fo domain allows reversible opening of the c-ring and structural cross-talk with OSCP and the catalytic (αβ)3 hexamer. This article is part of a Special Issue entitled ‘EBEC 2016: 19th European Bioenergetics Conference, Riva del Garda, Italy, July 2–6, 2016’, edited by Prof. Paolo Bernardi

A Kinematic and Kinetic Case Study of a Netball Shoulder Pass

The majority of studies analysing netball skills using force platforms have focused on reducing the risk of injury from compression and torsion forces on the knee and ankle joints during landing and pivoting. In this preliminary case study our aim was to investigate the efficacy of a combination of tools to describe the kinematic and kinetic mechanisms underlying the netball shoulder pass. The segmental movements of the netball shoulder pass were analysed from video and force platform data in order to develop a suitable methodology for use in a larger study. Peak vertical ground reaction force of 850 N was found to coincide with the point of maximum velocity of the centre of pressure, occurring 40 ms before ball release. The participant’s centre of pressure continued anteriorly for 40 ms after ball release. The wrist traveled in a linear path during the propulsion phases, maximising impulse to the ball. A large shear force also occurred in the anterior posterior direction coinciding with ball release due to friction between the left shoe and the force platform, resisting the forward momentum of the body. Negative acceleration of the upper limb following the propulsion phase reached a peak of 68.6 rad/s-2 for the arm and 82.4 rad/s-2 for the forearm. Peak shoulder deceleration torque was calculated at 4.1 Nm which was greater than during acceleration (1.6 Nm). The combination of kinematic and kinetic tools yielded a comprehensive analysis of the investigated skill. Future biomechanical studies may determine differences in skill execution between novice and professional players or variability in movement within a population of skilled netball players

Experimental and numerical investigation on mixing and axial dispersion in Taylor-Couette flow patterns

Taylor-Couette flows between two concentric cylinders have great potential applications in chemical engineering. They are particularly convenient for two-phase small scale devices enabling solvent extraction operations. An experimental device was designed with this idea in mind. It consists of two concentric cylinders with the inner one rotating and the outer one fixed. Moreover, a pressure driven axial flow can be superimposed. Taylor-Couette flow is known to evolve towards turbulence through a sequence of successive hydrodynamic instabilities. Mixing characterized by an axial dispersion coefficient is extremely sensitive to these flow bifurcations, which may lead to flawed modelling of the coupling between flow and mass transfer. This particular point has been studied using experimental and numerical approaches. Direct numerical simulations (DNS) of the flow have been carried out. The effective diffusion coefficient was estimated using particles tracking in the different Taylor-Couette regimes. Simulation results have been compared with literature data and also with our own experimental results. The experimental study first consists in visualizing the vortices with a small amount of particles (Kalliroscope) added to the fluid. Tracer residence time distribution (RTD) is used to determine dispersion coefficients. Both numerical and experimental results show a significant effect of the flow structure on the axial dispersion

Solvent-mediated isotope effects strongly influence the early stages of calcium carbonate formation: exploring D2O vs. H2O in a combined computational and experimental approach

In experimental studies, heavy water (D2O) is employed, e.g., so as to shift the spectroscopic solvent background, but any potential effects of this solvent exchange on reaction pathways are often neglected. While the important role of light water (H2O) during the early stages of calcium carbonate formation has been realized, studies into the actual effects of aqueous solvent exchanges are scarce. Here, we present a combined computational and experimental approach to start to fill this gap. We extended a suitable force field for molecular dynamics (MD) simulations. Experimentally, we utilised advanced titration assays and time-resolved attenuated total reflection Fourier transform infrared (ATR-FTIR) spectroscopy. We find distinct effects in various mixtures of the two aqueous solvents, and in pure H2O or D2O. Disagreements between the computational results and experimental data regarding the stabilities of ion associates might be due to the unexplored role of HDO, or an unprobed complex phase behaviour of the solvent mixtures in the simulations. Altogether, however, our data suggest that calcium carbonate formation might proceed “more classically” in D2O. Also, there are indications for the formation of new structures in amorphous and crystalline calcium carbonates. There is huge potential towards further improving the understanding of mineralization mechanisms by studying solvent-mediated isotope effects, also beyond calcium carbonate. Last, it must be appreciated that H2O and D2O have significant, distinct effects on mineralization mechanisms, and that care has to be taken when experimental data from D2O studies are used, e.g., for the development of H2O-based computer models

Pain reconceptualisation after Pain Neurophysiology Education in adults with chronic low back pain:A qualitative study

Pain neurophysiology education (PNE) is an educational intervention for patients with chronic pain. PNE purports to assist patients to reconceptualise their pain away from the biomedical model towards a more biopsychosocial understanding by explaining pain biology. This study aimed to explore the extent, and nature, of patients’ reconceptualisation of their chronic low back pain (CLBP) following PNE. Eleven adults with CLBP underwent semistructured interviews before and three weeks after receiving PNE. Interviews were transcribed verbatim and thematically analysed in a framework approach using four a priori themes identified from our previous research: (1) degrees of reconceptualisation, (2) personal relevance, (3) importance of prior beliefs, and (4) perceived benefit of PNE. We observed varying degrees of reconceptualisation from zero to almost complete, with most participants showing partial reconceptualisation. Personal relevance of the information to participants and their prior beliefs were associated with the degree of benefit they perceived from PNE. Where benefits were found, they manifested as improved understanding, coping, and function. Findings map closely to our previous studies in more disparate chronic pain groups. The phenomenon of reconceptualisation is applicable to CLBP and the sufficiency of the themes from our previous studies increases confidence in the certainty of the findings

Xanthogranulomatous Appendicitis in a Child: Report of a Case and Review of the Literature

Xanthogranulomatous inflammation is a well-described inflammatory process, which may involve any organ but is most frequently encountered in the gall bladder and the kidney. There are rare reports of xanthogranulomatous appendicitis (XA) in the adult population, but only one brief mention of such a diagnosis in a child. In this report, we describe the case of an 11-year-old boy who presented with clinical signs and symptoms of acute appendicitis necessitating appendectomy. Upon microscopic examination, the appendix showed the typical features of XA. To the best of our knowledge, this is the first well-described case XA in a noninterval appendix in a child. We also reviewed the limited medical literature on the subject

Polymeric membranes for treatment of produced water on offshore plateform

Introduction Phase separation using non-solvent coagulation of a polymer solution is the most widespread industrial process to manufacture membranes. Large solvent quantity is then use that it complicates the overall process and may lead to environmental and health problems. Knowing that polymer concentration is usually in the range 15-20 % and coagulation and washing baths require to be often renewed, large amounts of aqueous solutions must be treated. For instance 10 m2 of ultrafiltration membrane need about 1 to 1.5 kg of solvent. Our objective in this proposal is to develop a novel process for membrane mass production in agreement with the principles of green chemistry. The main technical and economic output of using water instead organic solvents should consist in a simplification of the manufacturing process by lowering wastes and recycling. Environmental outputs will be a safer process, more economic on atoms, limiting the wastes and applicable to renewable naturally-occurring polymers. Please click Additional Files below to see the full abstract