Galaxies in group and field environments: a comparison of optical-NIR luminosities and colors

We compare properties of galaxies in loose groups with those in field environment by analyzing the Nearby Optical Galaxy (NOG) catalog of galaxy systems. We consider as group galaxies, objects belonging to systems with at least five members identified by means of the "friends of friends method", and, as field galaxies, all galaxies with no companions. We analyze both a magnitude--limited sample of 959 and 2035 galaxies (groups vs. field galaxies, respectively, B<14 mag, and 2000<cz<6000 km/s) and a volume-limited sample (M_B <-19.01 mag, 2000<cz<4000 km/s 369 group and 548 field galaxies). For all these galaxies, blue corrected magnitudes and morphological types are available. The cross-correlation of NOG with the 2MASS second release allow us to assign K magnitudes and obtain B-K colors for about half of the galaxies in our samples. We analyze luminosity and color segregation-effects in relation with the morphological segregation. For both B and K bands, we find that group galaxies are, on average, more luminous than field galaxies and this effect is not entirely a consequence of the morphological segregation. After taking into account the morphological segregation, the luminosity difference between group and field galaxies is about 10%. When considering only very early-type galaxies (T<-2) the difference is larger than 30%. We also find that group galaxies are redder than field galaxies, Delta(B-K) about 0.4 mag. However, after taking into account the morphological segregation, we find a smaller B-K difference, poorly significant (only at the c.l. of about 80%).Comment: 11 pages, 10 eps figures, A&A in pres

Precision measurements of Linear Scattering Density using Muon Tomography

We demonstrate that muon tomography can be used to precisely measure the properties of various materials. The materials which have been considered have been extracted from an experimental blast furnace, including carbon (coke) and iron oxides, for which measurements of the linear scattering density relative to the mass density have been performed with an absolute precision of 10%. We report the procedures that are used in order to obtain such precision, and a discussion is presented to address the expected performance of the technique when applied to heavier materials. The results we obtain do not depend on the specific type of material considered and therefore they can be extended to any application.Comment: 16 pages, 4 figure

Financial Analysts' Forecast Accuracy: Do Valuation Methods Matter?

This study investigates how different ways to evaluate a company influence the accuracy of the target price. We know that finance theory and professional practice propose alternative approaches to the evaluation of a company. The literature on the relationship between the valuation methods used and target price accuracy is still scant, and the results are inconclusive and contradictory. Coding the valuation methods of 1,650 reports, we find that the accuracy of target prices decreases when the target price is based just on a main method. Furthermore, we show that methods based on company fundamentals and those based on market multiples lead to similar levels of accuracy. Among different classes of methods, there are no superior methods. Therefore, we argue that in order to improve forecast accuracy, analysts need to assess company value by choosing and applying a set of different methods, combining them and getting the average value, but regardless of the specific technique chosen

AEROBIC TRAINING WITH LIMBS INTERMITTENT ISCHEMIA IMPROVES MYOCARDIAL FUNCTION AND WALL STRETCH IN PATIENTS WITH CLAUDICATION

Background: peripheral arterial disease (PAD) is a chronic disease determining functional impairment and increased risk of cardiovascular events. Physical training improves cardiac performance and reduces NTproBNP concentration, marker of risk of cardiovascular events, in cardiac patients. Aim: we aimed to examine the effects training conducted till ischemic pain at the leg of PAD patients on myocardial function and peripheral flux.Methods: we enrolled 22 patients affected by peripheral arterial disease without cardiac disease. All patients undergone a physical training of 15 days, with treadmill test at the begin and at the end of training. Results: at the end of training patients increased walking distance (450\ub1180 m vs 250\ub1108 m; p<0.05). We documented at rest, at the end of physical training, an increase in flow volume of common femoral artery of the symptomatic leg (2,55\ub12,13 L/min vs 1,86\ub11,30 L/min; p<0.05); NTproBNP concentration at rest was lower al the end of training (210\ub1130 pg/mL vs 188\ub1108 pg/mL; p<0.005), an increase of NTproBNP concentration after maximal exercise on treadmill before treatment, with a reduced increase at the end of training period (24\ub121 vs 12\ub110 pg/mL; p<0.0005); a reduction of end-diastolic diameter of left ventricle at rest (48\ub14 mm vs 50\ub15 mm; p<0.05). The ejection fraction did not changed, while heart rate reduced after training (66\ub19 bpm vs 71\ub112 bpm; p<0.05). Conclusions: this study documented an improvement of hemodynamic and cardiac performance in response of physical training in peripheral arterial disease patients not affected by cardiac disease. Further trials will be necessary to evaluate the use of NTproBNP as a marker of good response to physical training in these patients

LA PROSSIMITÀ A CLUSTER INDUSTRIALI E L’ACCURATEZZA DELLE PREVISIONI DEGLI ANALISTI FINANZIARI

Questo studio analizza secondo una nuova prospettiva il problema dell’accuratezza delle previsioni emesse dagli analisti finanziari. L’ipotesi testata è che la prossimità fisica degli analisti a centri di specializzazione industriale costituisca un vantaggio informativo per gli stessi, migliorando l’accuratezza delle loro previsioni. In letteratura tale ambito di ricerca è nuovo e il lavoro si configura come una prima indagine esplorativa del tema. Selezionando quattro diversi settori (Farmaceutico, Bancario, Oil&Gas, Retail) e sei paesi europei (Francia, Germania, Italia, Svezia, Svizzera e Regno Unito), sono stati raccolti dati sia macroeconomici, per individuare i diversi centri di eccellenza, sia relativi agli analisti finanziari, alle loro previsioni e alla loro collocazione geografica. I risultati ottenuti sono in linea con le aspettative e mostrano che la collocazione geografica degli analisti finanziari rispetto ai centri di specializzazione industriale influenza l’accuratezza delle loro previsioni. I risultati suggeriscono inoltre che il grado con cui gli analisti usufruiscono di questo vantaggio informativo dipende, quantomeno in parte, dal livello di specializzazione degli stessi. Complessivamente, dunque, le evidenze empiriche confermano il beneficio di far parte di un network, sia esso formale o informale, dove le informazioni, la condivisione delle conoscenze e delle competenze maturate possono facilmente circolare

Hydrogen peroxide is a neuronal alarmin that triggers specific RNAs, local translation of Annexin A2, and cytoskeletal remodeling in Schwann cells

Schwann cells are key players in neuro-regeneration: They sense "alarm" signals released by degenerating nerve terminals and differentiate toward a proregenerative phenotype, with phagocytosis of nerve debris and nerve guidance. At the murine neuromuscular junction, hydrogen peroxide (H2O2) is a key signal of Schwann cells' activation in response to a variety of nerve injuries. Here we report that Schwann cells exposed to low doses of H2O2 rewire the expression of several RNAs at both transcriptional and translational levels. Among the genes positively regulated at both levels, we identified an enriched cluster involved in cytoskeleton remodeling and cell migration, with the Annexin (Anxa) proteins being the most represented family. We show that both Annexin A2 (Anxa2) transcript and protein accumulate at the tips of long pseudopods that Schwann cells extend upon H2O2 exposure. Interestingly, Schwann cells reply to this signal and to nerve injury by locally translating Anxa2 in pseudopods, and undergo an extensive cytoskeleton remodeling. Our results show that, similarly to neurons, Schwann cells take advantage of local protein synthesis to change shape and move toward damaged axonal terminals to facilitate axonal regeneration

Dual Deletion of the Sirtuins SIRT2 and SIRT3 Impacts on Metabolism and Inflammatory Responses of Macrophages and Protects From Endotoxemia.

Sirtuin 2 (SIRT2) and SIRT3 are cytoplasmic and mitochondrial NAD-dependent deacetylases. SIRT2 and SIRT3 target proteins involved in metabolic, proliferation and inflammation pathways and have been implicated in the pathogenesis of neurodegenerative, metabolic and oncologic disorders. Both pro- and anti-inflammatory effects have been attributed to SIRT2 and SIRT3, and single deficiency in SIRT2 or SIRT3 had minor or no impact on antimicrobial innate immune responses. Here, we generated a SIRT2/3 double deficient mouse line to study the interactions between SIRT2 and SIRT3. SIRT2/3 &lt;sup&gt;-/-&lt;/sup&gt; mice developed normally and showed subtle alterations of immune cell populations in the bone marrow, thymus, spleen, blood and peritoneal cavity that contained notably more anti-inflammatory B-1a cells and less NK cells. In vitro, SIRT2/3 &lt;sup&gt;-/-&lt;/sup&gt; macrophages favored fatty acid oxidation (FAO) over glycolysis and produced increased levels of both proinflammatory and anti-inflammatory cytokines. In line with metabolic adaptation and increased numbers of peritoneal B-1a cells, SIRT2/3 &lt;sup&gt;-/-&lt;/sup&gt; mice were robustly protected from endotoxemia. Yet, SIRT2/3 double deficiency did not modify endotoxin tolerance. Overall, these data suggest that sirtuins can act in concert or compensate each other for certain immune functions, a parameter to be considered for drug development. Moreover, inhibitors targeting multiple sirtuins developed for clinical purposes may be useful to treat inflammatory diseases

Supervised training improves endothelial function measured during induced ischemia in peripheral arterial disease.

Introduction: favorable effect of training on cardiovascular pathology is well documented in literature. Mechanisms evoked are the following: increased NO availability for reduction of oxidative stress, inflammation decrease, improvement of glucidic and lipidic metabolism, resetting of neuro-endocrine balance (1). These mechanism are also involved in the improvement of patients with peripheral arterial disease (PAD) treated with training. PAD is a model of inducible ischemia, in fact claudication is a condition in which ischemia/reperfusion phenomenon is present when walking is conducted till maximum pain (2). This phenomenon may produce a great amount of radical oxygen species with possible consequence on endothelium function. Xanthine oxidase is one of the most relevant enzyme involved in this process. Different types of training are proposed for PAD patients and there is not a consensus whether the ischemic pain should be reached during exercise. So we aimed to verify if maximal treadmill test (till pain) causes endothelial dysfunction, if oxidative stress is acutely aroused and if xanthine oxidase is involved. Therefore we aimed to verify if a training performed under the onset of ischemic pain can improve endothelial function ether at rest and after maximum tolerated exercise. Patients and methods: we enrolled 20 patients with PAD (16 males, 4 females, aged 65-77). Endothelium dependent dilation (EDD) was measured at humeral artery by ultrasound method, before and after maximal treadmill test (speed 3,2 km/h; slope 10%). We administered allopurinol 600 mg the day before and 600 mg 6 hours before a new treadmill test. Serum uric acid and lactate were determined throughout the study. Afterwards patients performed supervised training under pain onset for 20 days with physiotherapist overview. Every 7 days a new treadmill test was performed for updating training distance. At the end of the training period EDD was measured before and after a maximal treadmill test. Furthermore microcirculatory endothelium dependent dilation was measured at the skin of the forefoot by means of laser-Doppler (LD) after iontophoretic acetylcholine administration. Results: maximal treadmill test acutely reduced EDD (6,1\uf0b10,7 vs 9,2\uf0b10,9 %; p<0,05;). Allopurinol improved EDD (10,1\uf0b10,3 vs 9,4\uf0b10,6 %; p<0,05) with a reduced fall after maximal test (delta decrease -21,3\uf0b12,2 vs \u201333,2\uf0b11,2%; p<0,05). Training increased pain free walking distance (131\uf0b112 vs 66,6\uf0b121 m; p<0,05) and absolute walking distance (275\uf0b115 vs 125,8\uf0b140 m; p<0,05). EDD improved after training period (11,3\uf0b10,7 vs 9,2\uf0b10,9; p<0,05). The fall in EDD, observed during maximal treadmill test at the end of training period, was smaller than the one measured before training (delta decrease -15,5\uf0b12,4 vs \u201333,2\uf0b11,2%; p<0,005). Microcirculatory endothelium dependent dilation measured with LD increased after training (table). Table: microcirculatory flux with LD after iontophoretic acetylcholine. Acetylcholine 0,10 mA 10 s 20 s 40 s T 0 (% incr) 35\uf0b19 70\uf0b115 120\uf0b115 T 20 (%incr) 147\uf0b138* 182\uf0b122* 470\uf0b154* (*p<0.005 T20 vs T0) Conclusions: we demonstrate that walking through maximal pain causes impairment of EDD, this is caused by oxidative stress and can be reduced by inhibition of xanthine oxidase. Aerobic training improves EDD and microcirculatory endothelial function, furthermore training reduces the drop of EDD during maximal exercise and increased oxidative stress. As a consequence these results suggest the training should be performed under the maximal pain. References 1. Brendle DC, Joseph LJ, Corretti MC, Gardner AW, Katzel LI. Effects of exercise rehabilitation on endothelial reactivity in older patients with peripheral arterial disease. Am J Cardiol 2001;87:324-9. 2. Andreozzi GM, Leone A, Laudani R, Deinite G, Martini R. Acute impairment of the endothelial function by maximal treadmill exercise in patients with intermittent claudication, and its improvement after supervised physical training. Int Angiol. 2007; 26:12-7

International contracting and commercial arbitration : an analysis of the doctrine of harmonisation and regionalism with special reference to the Middle East region

This dissertation seeks to contribute to the development of the comparative study of international commercial arbitration by focusing on the Middle Eastern experience in commercial dispute resolution. Theoretical and practical criticism is offered and suggestions for an improved regional legislative framework are made. With the ever-increasing importance of international trade to Middle Eastern countries, research upon the effective dispute resolution mechanisms of commercial arbitration has become imperative. The process of harmonisation of commercial arbitration has become the subject of wider international and regional research studies, and the aim of this work is to contribute to the field in the context of the Middle Eastern region. This thesis examines "regionalism" and the process of harmonisation in international commercial arbitration. Within the philosophical framework of international commercial arbitration, international contract principles and dispute resolution mechanisms, the objective is to analyse existing cultural deviations and boundaries, and ascertain how these have prevented effective law reform within the region itself, obstructing the harmonisation process. Despite regional variations, in practice the process, of harmonisation is essential if the Middle East is to benefit from and participate in the phenomenon of globalisation. Whilst regional culture has become increasingly significant, harmonisation of commercial arbitration has become more urgent. The thesis argues that harmonisation with the international commercial arbitration Model Law can be achieved when the concept of regionalism is taken into consideration. Different aspects manifested within regionalism regarded as legal cultural deviation can be accommodated, making for an efficient arbitration law reform in accordance with the international accepted substantive and procedural principles of the UNCITRAL Model Law.EThOS - Electronic Theses Online ServiceGBUnited Kingdo

Proximity to Hubs of Expertise in Financial Analyst Forecast Accuracy

This paper investigates whether the geographical proximity of financial analysts to hubs of information and expertise can influence their forecasting accuracy. Recent studies show that the financial analyst forecasting process show a systematic difference in earnings forecast accuracy dependent on the geographical distance of analysts from the companies which they follow. The literature argues that local analysts issue more accurate forecasts because they have an informational advantage over analysts who are further away. Industrial centres can constitute important knowledge spillovers by creating formal and informal networks amongst firms and higher education and research institutions. In such a hub, information can easily flow and propagate. Our hypothesis is that physical proximity to these hubs, and not to the companies they follow, is an advantage for financial analysts, leading to the issue of more accurate forecasts. Using a sample of 205 observations related to 33 firms, across seven countries and ten sectors, our results are consistent with the hypothesis. Even though preliminary, and probably in part biased by sample selection issues, overall, the empirical evidence confirms the benefit of being part of a network, formal or informal, in which information, knowledge and expertise sharing can flow easily. We try to give some new evidence on what can cause variations in financial analyst accuracy by exploring these concepts, well known and analysed in other fields, but new in the context of financial analysts