Mergers and Acquisitions Between Mutual Banks in Italy :An analysis of the effects on performance and productive efficiency

The paper is aimed at testing the hypothesis that the M&A wave over the past ten years has increased the level of efficiency of co-operative credit banks (CCBs), both in terms of overall performance and productive efficiency. The logical development is hinged on two steps: 1) an explorative analysis which is based on the observation of balance sheet ratios by quantiles, 2) a DEA application for estimating productive efficiency scores. The analysis refers to 94 CCBs which have been involved in M&As over the period 1995-1998 and is carried out on both merged and non-merged banks, either before concentration or in the subsequent years.

A Formal Framework for Web Services Coordination

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Tardigradi della Sardegna e di alcune piccole isole circum-sarde.

We carried out a faunsitic study on limnic and terrestrial tardigardes from Sardinia and its surroundings samm islands. The study led to the identification of 34 species, including Bryodelphax iohannis, Macrobiosyu biserovi and Macrobiotus serratus, species new for science. Attention is focused on large number of ubiquitous or widespread species

Case study: IBM Watson Analytics cloud platform as Analytics-as-a-Service system for heart failure early detection

In the recent years the progress in technology and the increasing availability of fast connections have produced a migration of functionalities in Information Technologies services, from static servers to distributed technologies. This article describes the main tools available on the market to perform Analytics as a Service (AaaS) using a cloud platform. It is also described a use case of IBM Watson Analytics, a cloud system for data analytics, applied to the following research scope: detecting the presence or absence of Heart Failure disease using nothing more than the electrocardiographic signal, in particular through the analysis of Heart Rate Variability. The obtained results are comparable with those coming from the literature, in terms of accuracy and predictive power. Advantages and drawbacks of cloud versus static approaches are discussed in the last sections

Ash leachates from some recent eruptions of Mount Etna (Italy) and Popocatépetl (Mexico) volcanoes and their impact on amphibian living freshwater organisms

Leaching experiments were carried out on fresh ash samples from Popocatépetl 2012, Etna 2011, and Etna 2012 eruptions, in order to investigate the release of compounds in both double-deionized and lake (Lake Ohrid, FYR of Macedonia) waters. The experiments were carried out using different grain sizes and variable stirring times (from 30 min to 7 days). Results were discussed in the light of changing pH and release of compounds for the different leachates. In particular, Etna samples induced alkalinization, and Popocatépetl samples induced acidification of the corresponding leachates. The release of different elements does not show correlation with the stirring time, with the measured maximum concentrations reached in the first hours of washing. General inverse correlation with grain size was observed only for Na+, K+, Cl-, Ca2+, Mg2+, SO2-4 , and Mn2+, while the other analysed elements show a complex, scattering relationship with grain size. Geochemical modelling highlights leachates' saturation only for F and Si, with Popocatépetl samples sometimes showing saturation in Fe. The analysed leachates are classified as undrinkable for humans on the basis of European laws, due to excess in F-, Mn2+, Fe, and SO2-4 (the latter only for Popocatépetl samples). Finally, the Etna 2012 and Popocatépetl leachates were used for toxicity experiments on living biota (Xenopus laevis). They are mildly toxic, and no significant differences exist between the toxic profiles of the two leachates. In particular, no significant embryo mortality was observed; while even at high dilutions, the leachates produced more than 20% of malformed larvae

Investigating the antiparasitic potential of the marine sesquiterpene avarone, its reduced form avarol, and the novel semisynthetic thiazinoquinone analogue thiazoavarone

The chemical analysis of the sponge Dysidea avara afforded the known sesquiterpene quinone avarone, along with its reduced form avarol. To further explore the role of the thiazinoquinone scaffold as an antiplasmodial, antileishmanial and antischistosomal agent, we converted the quinone avarone into the thiazinoquinone derivative thiazoavarone. The semisynthetic compound, as well as the natural metabolites avarone and avarol, were pharmacologically investigated in order to assess their antiparasitic properties against sexual and asexual stages of Plasmodium falciparum, larval and adult developmental stages of Schistosomamansoni (eggs included), and also against promastigotes and amastigotes of Leishmania infantum and Leishmania tropica. Furthermore, in depth computational studies including density functional theory (DFT) calculations were performed. A toxic semiquinone radical species which can be produced starting both from quinone- and hydroquinone-based compounds could mediate the anti-parasitic effects of the tested compounds

Tailoring dry microparticles for pulmonary drug delivery: ultrasonic spray freeze-drying with mannitol and salbutamol sulphate

Spray freeze-drying has emerged as a valid alternative to traditional spray drying to produce therapeutic dry microparticles. In particular, the spherical shape and high porosity of spray freeze-dried microparticles make them suitable for pulmonary drug delivery through dry powder inhalers. However, an appropriate particle size and fine particle fraction are required to guarantee lung deposition. This study used ultrasonic spray freeze-drying to generate dry microparticles composed of mannitol either alone or added with the bronchodilator salbutamol sulphate. The influence of the solid concentration and the feed flow rate on the particle size, morphology, surface area, porosity, and crystallinity was investigated. Growing particle size was observed, increasing the concentration and feed flow rate. Similarly, the addition of the drug led to a larger particle size and surface area. The in vitro simulation of drug deposition highlighted the dependence of the aerodynamic properties on the solid concentration and feed flow rate. Due to the lower density and particle geometric size, the highest fine particle fraction (26%) and smallest mass median aerodynamic diameter (4.4 μm) were reached at the lowest solid concentration and feed flow rate