Lending to Small Businesses: The Role of Loan Maturity in Adressing Information Problems

We investigate what determines the maturity of loans to small, informationally opaque businesses.We find that longer maturities are associated with collateral pledges, better financial condition, good credit history, and less informational opacity of the borrower.However, we do not find a positive association between stronger firm-creditor relationships (which can attenuate these information asymmetries) and longer maturities.The evidence suggests that creditors use shorter maturities to induce more frequent renegotiation of contract terms, thus enforcing closer monitoring of more informationally opaque and risky borrowers.Overall, our results are consistent with shorter loan maturities mitigating the consequences of borrower-lender informational asymmetries.small business;bank lending;loans;information

Dunford-Pettis-like Properties of Projective and Natural Tensor Product Spaces

Sin resume

Secular variations of magma source compositions in the North Patagonian batholith from the Jurassic to Tertiary: Was mélange melting involved?

This study of Sr-Nd initial isotopic ratios of plutons from the North Patago nian batholith (Argentina and Chile) revealed that a secular evolution spanning 180 m.y., from the Jurassic to Neogene, can be established in terms of magma sources, which in turn are correlated with changes in the tectonic regime. The provenance and composition of end-member components in the source of mag mas are represented by the Sr-Nd initial isotopic ratios (87Sr/86Sr and 143Nd/144Nd) of the plutonic rocks. Our results support the interpretation that source compo sition was determined by incorporation of varied crustal materials and trench sediments via subduction erosion and sediment subduction into a subduction channel mélange. Subsequent melting of subducted mélanges at mantle depths and eventual reaction with the ultramafic mantle are proposed as the main causes of batholith magma generation, which was favored during periods of fast conver gence and high obliquity between the involved plates. We propose that a parental diorite (= andesite) precursor arrived at the lower arc crust, where it underwent fractionation to yield the silicic melts (granodiorites and granites) that formed the batholiths. The diorite precursor could have been in turn fractionated from a more mafic melt of basaltic andesite composition, which was formed within the mantle by complete reaction of the bulk mélanges and the peridotite. Our proposal follows model predictions on the formation of mélange diapirs that carry fertile subducted materials into hot regions of the suprasubduction mantle wedge, where mafic parental magmas of batholiths originate. This model not only accounts for the secular geochemical variations of Andean batholiths, but it also avoids a fundamental paradox of the classical basalt model: the absence of ultramafic cumulates in the lower arc crust and in the continental crust in general

Polyaniline coated conducting fabrics : chemical and electrochemical characterization

Polyaniline coated conducting fabrics have been obtained by chemical oxidation of aniline by potassium peroxydisulfate on polyester fabrics. Two different acids have been employed to carry out the synthesis (HCl and H2SO4), obtaining the best results of conductivity with the latter one. The conducting fabrics have been characterized chemically by means of Fourier transform infrared spectroscopy with attenuated total reflection (FTIR-ATR), energy dispersive X-Ray (EDX) and X-ray photoelectron spectroscopy (XPS). The morphology of the coatings has been observed by means of scanning electron microscopy (SEM). The conducting properties of the fabrics have been measured by means of electrochemical impedance spectroscopy (EIS). The electrochemical characterization has been carried out by means of cyclic voltammetry (CV) and scanning electrochemical microscopy (SECM). The conducting fabrics have also shown electrochromic properties, changing its color from green yellowish at −1 V to dark green at +2 V. The durability of the coating has been evaluated by means of washing and rubbing fastness tests.Authors thank to the Spanish Ministerio de Ciencia e Innovacion and European Union Funds (FEDER) (contract CTM2010-18842-C02-02) and Universitat Politecnica de Valencia (Primeros Proyectos de Investigacion (PAID-06-10)) for the financial support. J. Molina is grateful to the Conselleria d'Educacio (Generalitat Valenciana) for the FPI fellowship

IFNL4 ss469415590 polymorphism is associated with unfavourable clinical and immunological status in HIV-infected individuals

AbstractThe IFNL4 ss469415590 polymorphism, in high linkage disequilibrium with the IL28B rs12979860 variant, has been associated with hepatitis C virus clearance. We evaluated whether ss469415590 is associated with clinical and immunovirological parameters in human immunodeficiency virus-infected subjects. We found an independent association of the IFNL4 ss469415590 polymorphism with higher prevalence of AIDS-defining illnesses and lower CD4 T cell numbers. These results suggest the existence of common host defence mechanisms against different viral infections

Promising antioxidant and antimicrobial food colourants from Lonicera caerulea L. var. Kamtschatica

Lonicera caerulea L. (haskap) berries are widely known for their richness in anthocyanins. In this study, such fruits were assessed for their nutritional and chemical composition, but also as sources of anthocyanins with great colouring properties to be applied in foodstu . Haskap presented high levels of water, four free sugars (mainly fructose and glucose), five organic acids (mainly citric, malic, and quinic), - and -tocopherol, twenty fatty acids (with prevalence of linoleic acid), and eight phenolic compounds, among which six were anthocyanins (mainly cyanidin-3-O-glucoside). The extract presented great antioxidant properties, evaluated through TBARS and OxHLIA assays, as well as antimicrobial capacity against six bacteria and six fungi. Two colourants were obtained by spray-drying haskap juice with maltodextrin and a mixture of maltodextrin and arabic gum. These formulations were stable over 12 weeks of storage at room and refrigerated temperature, without significant variations in colour parameters and in anthocyanins concentration. They were considered safe for consumption once neither microbial contamination nor cytotoxicity in non-tumour cells were detected. The results obtained allow for the consideration of haskap as a promising source of colourants to be applied not only in the food industry, but also in other fields that rely on artificial colourants.The authors are grateful to Foundation for Science and Technology (FCT, Portugal) and FEDER under Programme PT2020 for financial support to CIMO (UID/AGR/00690/2019), and FCT/MCTES (PIDDAC) and FCT for financial support to LSRE-LCM (UID/EQU/50020/2019); national funding by FCT, P.I., through the institutional scientific employment program-contract for M.I. Dias, I.P.F., and L. Barros, and through the individual scientific employment program-contract for S.A. Heleno and J. Barreira; C. Pereira’s contract though the celebration of program-contract foreseen in No. 4, 5 and 6 of article 23º of Decree-Law No. 57/2016, of 29th August, amended by Law No. 57/2017, of 19th July; to FEDER-Interreg España-Portugal programme for financial support through the project 0377_Iberphenol_6_E; the European Regional Development Fund (ERDF) through the Regional Operational Program North 2020, within the scope of Project NORTE-01-0145-FEDER-023289: DeCodE and project Mobilizador Norte-01-0247-FEDER-024479: ValorNatural®.info:eu-repo/semantics/publishedVersio

Anthocyanins from rubus fruticosus l. And morus nigra l. applied as food colorants: a natural alternative

Given the importance of colour in the general acceptance or rejection of a product, the use of colorants is a widespread practice, particularly in the food industry. At the same time, with the increasing consumers’ awareness of the health effects that some artificial colorants can exert, there is a growing tendency to prioritize foodstuffs containing natural additives. In this work, Morus nigra L. and Rubus fruticosus L. fruit juices were characterized in terms of anthocyanins, organic acids, free sugars, and tocopherols, as also regarding their bioactive properties. Given their richness in anthocyanins, this study also aimed to prepare different solid colouring formulations by the spray-drying technique, using as stabilizers maltodextrin and arabic gum. Six free sugars and two organic acids were detected in the fruit juices, as well as the four tocopherol isoforms. Two cyanidin derivatives were found in M. nigra (cyanidin-3-O-glucoside and cyanidin-O-rhamnoside) and other four in R. fruticosus (cyanidin-O-hexoside, cyanidin-3-O-glucoside, cyanidin-O-pentoside, and cyanidin-3-O-dioxaloilglucoside). The developed colouring formulations revealed a good stability over time, in terms of anthocyanin concentration and colour parameters, and revealed to be safe for consumption, either concerning their low microbial load and lack of cytotoxicity. Thus, they represent a promising natural alternative to the massively used artificial colorants.The authors are grateful to the Foundation for Science and Technology (FCT, Portugal) for financial support through national funds FCT/MCTES to CIMO (UIDB/00690/2020); national funding by F.C.T. and P.I., through the institutional scientific employment program-contract for C.P., M.I.D., I.P.F., and L.B. contracts, through the individual scientific employment program-contract for S.A.H., J.C.M.B., and M.C., and A.K.M. PhD grant (2020.06231.BD). To FEDER-Interreg España-Portugal programme for financial support through the project TRANSCoLAB 0612_TRANS_CO_LAB_2_P; to ERDF through the Regional Operational Program North 2020, within the scope of project Mobilizador Norte-01-0247-FEDER-024479: ValorNatural® and Project GreenHealth-Norte-01-0145- FEDER-000042. The authors are grateful to the Ministry of Education, Science and Technological Development of Serbia (Grant No. 451-03-9/2021-14/200007).info:eu-repo/semantics/publishedVersio

Electron transport across a quantum wire in the presence of electron leakage to a substrate

We investigate electron transport through a mono-atomic wire which is tunnel coupled to two electrodes and also to the underlying substrate. The setup is modeled by a tight-binding Hamiltonian and can be realized with a scanning tunnel microscope (STM). The transmission of the wire is obtained from the corresponding Green's function. If the wire is scanned by the contacting STM tip, the conductance as a function of the tip position exhibits oscillations which may change significantly upon increasing the number of wire atoms. Our numerical studies reveal that the conductance depends strongly on whether or not the substrate electrons are localized. As a further ubiquitous feature, we observe the formation of charge oscillations.Comment: 7 pages, 7 figure

The state of the Martian climate

60°N was +2.0°C, relative to the 1981–2010 average value (Fig. 5.1). This marks a new high for the record. The average annual surface air temperature (SAT) anomaly for 2016 for land stations north of starting in 1900, and is a significant increase over the previous highest value of +1.2°C, which was observed in 2007, 2011, and 2015. Average global annual temperatures also showed record values in 2015 and 2016. Currently, the Arctic is warming at more than twice the rate of lower latitudes