Foreign Bank Entry and Credit Allocation in Emerging Markets

We employ a unique data set containing bank-specific information to explore how foreign bank entry determines credit allocation in emerging markets. We investigate the impact of the mode of foreign entry (greenfield or takeover) on banks’ portfolio allocation to borrowers with different degrees of informational transparency, as well as by maturities and currencies. The impact of foreign entry on credit allocation may stem from the superior performance of foreign entrants (“performance hypothesis”), or reflect borrower informational capture (“portfolio composition hypothesis”). Our results are broadly in line with the portfolio composition hypothesis, showing that borrower informational capture determines bank credit allocation.banks;ownership;credit allocation

Impact cratering and the surface age of Venus: The Pre-Magellan controversy

The average surface age of a planet is a major indicator of the level of its geologic activity and thus of the dynamics of its interior. Radar images obtained by Venera 15/16 from the northern quarter of the Venus (lat 30 to 90 degs) reveal about 150 features that resemble impact craters, and they were so interpreted by Soviet investigators B. A. Ivanov, A. T. Basilevsky, and their colleagues. These features range in diameter from about 10 to 145 km. Their areal density is remarkably similar to the density of impact structures found on the American and European continental shields. The basic difference between the Soviet and American estimates of the average surface age of Venus's northern quarter is due to which crater-production rate is used for the Venusian environment. Cratering rates based on the lunar and terrestrial cratering records, as well as statistical calculations based on observed and predicted Venus-crossing asteroids and comets, have been used in both the Soviet and American calculations. The single largest uncertainty in estimating the actual cratering rates near Venus involves the shielding effect of the atmosphere

Use of tunable nanopore blockade rates to investigate colloidal dispersions

Tunable nanopores in elastomeric membranes have been used to study the dependence of ionic current blockade rate on the concentration and electrophoretic mobility of particles in aqueous suspensions. A range of nanoparticle sizes, materials and surface functionalities has been tested. Using pressure-driven flow through a pore, the blockade rate for 100 nm carboxylated polystyrene particles was found to be linearly proportional to both transmembrane pressure (controlled between 0 and 1.8 kPa) and particle concentration (between 7 x 10^8 and 4.5 x 10^10 mL^-1). This result can be accurately modelled using Nernst-Planck transport theory. Using only an applied potential across a pore, the blockade rates for carboxylic acid and amine coated 500 nm and 200 nm silica particles were found to correspond to changes in their mobility as a function of the solution pH. Scanning electron microscopy and confocal microscopy have been used to visualise changes in the tunable nanopore geometry in three dimensions as a function of applied mechanical strain. The pores observed were conical in shape, and changes in pore size were consistent with ionic current measurements. A zone of inelastic deformation adjacent to the pore has been identified as critical in the tuning process

Mathematical Modelling of the Electrical Discharge Mechanical Alloying Process

AbstractIn the paper, a comprehensive study of the electro-discharge mechanical alloying with using brush electrode is presented. This kind of a novel method is denoted as BEDMA (Brush Electro-Discharge Mechanical Alloying) and it combines features of electrical discharge machining with thermo-mechanical treatment. Electrode is being made of material which is to be alloyed on the part surface. A mathematical modelling of the thermal processes and mechanical action during the interaction of a single filament on the machined surface have been developed and used to estimation of the material transfer rate

The Microbiome of an Active Meat Curing Brine

Traditional food products are important to our culture and heritage, and to the continued success of the food industry. Many of the production processes associated with these products have not been subjected to an in-depth microbial compositional analysis. The traditional process of curing meat, both preserves a natural protein source, as well as increasing its organoleptic qualities. One of the most important salting processes is known as Wiltshire curing. The Wiltshire process involves injecting pork with a curing solution and immersing the meat into microbial-rich brine which promotes the development of the distinct organoleptic characteristics. The important microbial component of Wiltshire brine has not been extensively characterized. We analyzed the key microbial component of Wiltshire brine by performing microbiome analysis using Next Generation Sequencing (NGS) technologies. This analysis identified the genera, Marinilactibacillus, Carnobacterium, Leuconostoc, and Vibrio as the core microflora present in Wiltshire curing brine. The important food industrial applications of these bacteria were also assessed. The bacterial diversity of the brine was investigated, and the community composition of the brine was demonstrated to change over time. New knowledge on the characterization of key microbiota associated with a productive Wiltshire brine is an important development linked to promoting enhanced quality and safety of meat processing in the food industry

Чеські воїни на полі Ґрюнвальдської битви: участь та пошуки контактів із Польщею та Литвою-Руссю

The article examines the problem of the participation of soldiers from Bohemia in the events of the Battle of Grunwald, both on the side of the Polish-Lithuanian forces and on the side of the Teutonic Order. The state of research of the topic, its place in the study of Grunwald is outlined. The urgency of studying the Czech military component in the armies of both sides was emphasized, given the need to further debunk the myth of the German danger and the pan-Slavic alliance. The author analyzes which Polish-Lithuanian and Order banners fought Czech mercenaries and names the names of their leaders known from sources. The “Czech” episodes in the work of Jan Dlugosz are analyzed, it is noted that the version of the participation of mercenaries from Bohemia in the battle reflects the negative attitude of the Polish chronicler to the Czech Republic. The issue of participation in the events of the war with the Order of the future leader of the Hussites Jan Žižka was raised, the opinion is defended that he fought in the ranks of the Polish-Lithuanian army. Attention is drawn to the involvement of Lithuanian-Rus’ Prince Zygmunt Korybutovych in the Battle of Grunwald, as well as to his further role in Czech-Rus’ relations in the wake of Hussite events. It is noted that the Battle of Grunwald was a decisive event that influenced the gradual withdrawal of Bohemia from the alliance with the Order, at least for those of its forces who later participated in the Hussite events and established contact with Wladyslaw II Jagiello and Vytautas. An episode of Jan Hus's correspondence with the Polish king is mentioned in the context of how Polish propaganda created the myth of its own peace victory immediately after the war. The author concludes that the events of the Battle of Grunwald partly determined for Bohemia its further geopolitical cooperation in Central and Eastern Europe and contributed to the restoration of communication with Lithuania, Poland and Rus’. At the same time, it was emphasized that Grunwald did not become the final severance of relations with the Order, with which Bohemia, like the Kingdom of Rus’, had had strong ties for centuries.У статті досліджується проблема участі воїнів з Богемії у подіях Ґрюнвальдської битви як на боці польсько-литовських сил, так і на боці Тевтонського ордену. Окреслено стан дослідження теми, її місце у вивченні Ґрюнвальду. Наголошено на актуальності вивчення чеської військової складової у військах обох сторін з огляду на потребу подальшого розвінчання міфу про німецьку небезпеку та панславістський союз. Автором проаналізовано, у складі яких хоругв – польсько-литовських та орденських – воювали чеські найманці та названо імена відомих із джерел їхніх очільників. Проаналізовано «чеські» епізоди у творі Яна Длуґоша, відзначено, що версія участі найманців з Богемії у битві відображає негативне ставлення польського хроніста до Чехії. Піднято питання участі у подіях війни з Орденом майбутнього провідника гуситів Яна Жижки, відстоюється думка, що він воював у лавах польсько-литовського війська. Звернено увагу на причетність до Ґрюнвальдської битви литовсько-руського князя Зиґмунда Корибутовича, а також на його подальшу роль у чесько-руських відносинах у вирі гуситських подій. Наголошується, що Ґрюнвальдська битва була вирішальною подією, яка вплинула на поступовий відхід Богемії від союзу з Орденом, принаймні, для тих її сил, які згодом брали участь у гуситських подіях та налагоджували контакт із Владиславом ІІ Ягайлом та Вітовтом. Згадується епізод листування Яна Гуса з польським королем у контексті того, як польська пропаганда витворювала міф власної миротворчої перемоги одразу після війни. Автор дійшов висновку, що події Ґрюнвальдської битви частково визначили для Богемії її подальшу геополітичну взаємодію у Центрально-Східній Європі та сприяли відновленню комунікації із Литвою, Польщею та Руссю. Водночас, наголошено, що Ґрюнвальд не став остаточним розривом відносин із Орденом, із яким у Богемії, як і в королівства Русі, впродовж минулих століть були доволі міцні зв’язки

Klasifikacija tehničkih materijala prema klasama obradivosti kod hidroabrazivnog rezanja

This paper presents the major cutting knowledge, the opinion data and the results of actual theoretic parameters solutions and the current results, estimated by contemporary needs of hydro abrasive cutting technology. Here is a newly opened and discussed question of current data terminology disunity in the area of metrology topography surfaces of cutting walls created by abrasive waterjet.U radu su prezentirana temeljna znanja, razmišljanja i rezultati teorijskih rješenja vezano uz trenutne procijenjene suvremene potrebe za hidroabrazivnom tehnologijom rezanja. Ovdje je i ponovo otvoreno pitanje trenutne terminologije u području mjeriteljstva topografi je površina dobivenih rezanjem abrazivnim vodenim mlazom

Unidirectional constant rate motion of the ribosomal scanning particle during eukaryotic translation initiation

According to the model of translation initiation in eukaryotes, the 40S ribosomal subunit binds to capped 5′-end of mRNA and subsequently migrates along 5′-UTR in searching for initiation codon. However, it remains unclear whether the migration is the result of a random one-dimensional diffusion, or it is an energy-driven unidirectional movement. To address this issue, the method of continuous monitoring of protein synthesis in situ was used for high precision measurements of the times required for translation of mRNA with 5′-UTRs of different lengths and structures in mammalian and plant cell-free systems. For the first time, the relationship between the scanning time and the 5′-UTR length was determined and their linear correlation was experimentally demonstrated. The conclusion is made that the ribosome migration is an unidirectional motion with the rate being virtually independent of a particular mRNA sequence and secondary structure

A Translation Initiation Element Specific to mRNAs with Very Short 5′UTR that Also Regulates Transcription

Transcription is controlled by cis regulatory elements, which if localized downstream to the transcriptional start site (TSS), in the 5′UTR, could influence translation as well. However presently there is little evidence for such composite regulatory elements. We have identified by computational analysis an abundant element located downstream to the TSS up to position +30, which controls both transcription and translation. This element has an invariable ATG sequence, which serves as the translation initiation codon in 64% of the genes bearing it. In these genes the initiating AUG is preceded by an extremely short 5′UTR. We show that translation in vitro and in vivo is initiated exclusively from the AUG of this motif, and that the AUG flanking sequences create a strong translation initiation context. This motif is distinguished from the well-known Kozak in its unique ability to direct efficient and accurate translation initiation from mRNAs with a very short 5′UTR. We therefore named it TISU for Translation Initiator of Short 5′UTR. Interestingly, this translation initiation element is also an essential transcription regulatory element of Yin Yang 1. Our characterization of a common transcription and translation element points to a link between mammalian transcription and translation initiation