Risk premium: insights over the threshold

The aim of this paper is twofold: First to test the adequacy of Pareto distributions to describe the tail of financial returns in emerging and developed markets, and second to study the possible correlation between stock market indices observed returns and return's extreme distributional characteristics measured by Value at Risk and Expected Shortfall. We test the empirical model using daily data from 41 countries, in the period from 1995 to 2005. The findings support the adequacy of Pareto distributions and the use of a log linear regression estimation of their parameters, as an alternative for the usually employed Hill's estimator. We also report a significant relationship between extreme distributional characteristics and observed returns, especially for developed countries

Caracterización química y cuantificación del rendimiento de extracción de pigmento en siete accesiones mexicanas de Bixa orellana

Achiote (Bixa orellana) is a plant used for obtaining a natural dye rich on carotenoids (mainly bixin and norbixin); it is also the plant species with the highest content of tocotrienols in nature. In the present work, the pigment extraction yield of seven Mexican accessions of Bixa orellana was quantified. Also color parameters and content of tocotrienols, tocopherols, norbixin, bixin, total phenolic compounds and antioxidant capacity were evaluated in the corresponding annatto extracts. The highest percentage of pigment extraction yield was obtained with KOH (4.84%). Accessions 43 (L*= 4.01 ± 0.79, C*= 7.33 ± 1.07, h= 25.76 ± 6.35) and 50 (L*= 3.17 ± 0.64, C*= 6.81 ± 0.53, h= 26.41 ± 4.41) had the lowest color values, meaning these accessions had a darker and redder color. Four accessions showed the highest content of bixin: accession 48 (3.1%), 45 (2.6%) 43 (2.4%) and 47 (2.2%). Accession 50 had showed the highest content of total phenolic compounds and of tocotrienols (T3), mainly the isoform δ-T3 (5.03 ± 0.64 mg g−1 Seed Dry Weight), as well as the highest antioxidant capacity.El achiote (Bixa orellana) es una planta utilizada para obtener un colorante natural rico en carotenoides (principalmente bixina y norbixina); además, es la especie vegetal con el mayor contenido de tocotrienoles. En este trabajo, se determinó el rendimiento de extracción de pigmento de siete accesiones mexicanas de Bixa orellana. También se evaluaron los parámetros de color y el contenido de tocotrienoles, tocoferoles, norbixina, bixina, compuestos fenólicos totales y la capacidad antioxidante en extractos de annato. El mayor porcentaje de rendimiento de extracción de pigmento fue obtenido con KOH (4.847905%). Las accesiones 43 (L*= 4.01 ± 0.79, C*= 7.33 ± 1.07, h= 25.76 ± 6.35) y 50 (L*= 3.17 ± 0.64, C*= 6.81 ± 0.53, h= 26.41 ± 4.41) presentaron los valores más bajos de los párametros de color, lo que significa que estas accesiones tuvieron un color más oscuro y más rojo. Cuatro accesiones mostraron el mayor contenido de bixina: accesión 48 (3.1%), 45 (2.6%) 43 (2.4%) and 47 (2.2%). La accession 50 mostró el mayor contenido de compuestos fenólicos totales y de tocotrienoles (T3), principalmente la isoforma δ-T3 (5.03 ± 0.64 mg g-1 Peso Seco), así como también la mayor capacidad antioxidante.Fil: Raddatz Mota, D.. Universidad Autónoma Metropolitana; MéxicoFil: Pérez Flores, L. J.. Universidad Autónoma Metropolitana; MéxicoFil: Carrari, Fernando Oscar. Instituto Nacional de Tecnología Agropecuaria. Centro de Investigación en Ciencias Veterinarias y Agronómicas. Instituto de Biotecnología; ArgentinaFil: Insani, Ester Marina. Instituto Nacional de Tecnología Agropecuaria. Centro de Investigación en Ciencias Veterinarias y Agronómicas. Instituto de Biotecnología; ArgentinaFil: Asis, Ramón. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Córdoba. Centro de Investigaciones en Bioquímica Clínica e Inmunología; ArgentinaFil: Mendoza Espinoza, J. A.. Universidad Nacional Autónoma de México; MéxicoFil: Díaz de León Sánchez, F.. Universidad Autónoma Metropolitana; MéxicoFil: Rivera Cabrera, F.. Universidad Autónoma Metropolitana; Méxic

Analysis of Ostwald ripening in Ni-rich Ni–Ti alloys by diffusion couples

"The coarsening kinetics of gamma' precipitates in Ni-rich Ni-Ti alloys are studied using a Ni-11-5 wt% Ti and pure Ni diffusion couple. The formed concentration gradient allowed to study the aging process at 1023 K (750 degrees C) in Ni-rich Ni Ti alloys with Ti content from 8-62 to 11-15 wt% Ti. In general, during the coarsening of gamma' precipitates, the experimental coarsening kinetics do not fit well to the LSW or TIDC theoretical models and anomalous behaviour of coarsening rate constant (k(r)) associated with gamma' volume-fraction is confirmed at high values.

Moderating effect of socioeconomic factors and educational level on electronic purchasing in Colombia

The main objective of this study was to determine whether the adoption of e-commerce in Colombia presents problems of social massification; specifically, we wanted to verify whether the socioeconomic variables and level of education have a moderating effect on the adoption of electronic commerce. An empirical study was conducted, 936 surveys were collected through a form on the Web, the data were analyzed and a prediction was made of the model using the PLS technique. The results confirm in an exploratory way this moderating effect of the socioeconomic and educational level on the relationship between the variable conditions that facilitate electronic purchasing. The main contribution to the theory of these findings empirically validates that, in countries with high levels of social inequality, the use of e-commerce is conditioned by the socioeconomic and educational characteristics of those who can access it

Neuropsychological Test Barcelona-2: Theoretical and Practical Aspects

The Barcelona test (TB) is an instrument of neuropsychological assessment, developed under the influence of Luria’s ideas, and published in 1990 [1]. It explores the main cognitive functions and allows the design of graphic profiles similar to those of the Boston Test for the diagnosis of aphasia. Objective: To present the theoretical and practical characteristics of a new version of the test, the Test Barcelona-2. The new and computerized versions of test structure is described here with six modules established: (1) Language-attention-orientation; (2) Reading and writing; (3) Motorpraxis; (4) Perception-gnosis; (5) Memory; (6) Abstraction-execution. As a novelty, test allows the selection for specific profiles: alpha, beta, abbreviated, aphasia, andecological-forensic approach. The types of variables condition a different statistical approach and a differentiated form of graphic expression. The new test presents a modular structure, which allows determining intra- and inter-module dissociations. Computerization greatly facilitates the work of the clinician. In the case of aphasia the test allows to differentiate easily all its clinical forms. Keywords: Test Barceona-2, neuropsychological test; computerized workstation, modular structur

ANTIMICROBIAL ACTIVITY OF MEDICINAL PLANTS FROM THE HUAUTLA SIERRA BIOSPHERE RESERVE IN MORELOS (MÉXICO)

Twenty-two extracts from nine Mexicanmedicinal plants of eight different familiesused for people neighbor to Huautla SierraBiosphere Reserve (REBIOSH) in differentinfectious diseases were assayed in vitro todetermine their antibacterial activity againstStaphylococcus aureus, Streptococcus faecalis; Escherichia coli; Proteus mirabilis;Salmonella typhi and the yeast Candidaalbicans. Most plants showed antibacterialactivity, while two plants showed activityagainst range 0.25 a 4 mg/mL almost onemicroorganism used. The extracts showedminimum inhibitory concentration (MIC)against S. aureus and S. faecalis, representsmicroorganisms Gram-positive were hexanic and acetonic extracts of Bursera copallifera and hexanic extract of B. grandifolia.The ethanol extract of Lippia graveolensshowed a MIC value of 1 mg/mL againstyeast Candida albicans.Se determinó la actividad antimicrobianade veintidós extractos orgánicos de nueveespecies vegetales medicinales de ochodiferentes familias, que son comúnmenteempleadas por los habitantes de las comunidades vecinas a la reserva de la biosferaSierra de Huautla (REBIOSH), Morelos,para tratar diferentes padecimientos infecciosos. Los microorganismos empleadosfueron: Staphylococcus aureus; Streptococcus faecalis; Escherichia coli; Proteusmirabilis; Salmonella typhi y la levaduraCandida albicans. La mayoría de los extractos de las plantas probadas inhibieronel crecimiento microbiano en un rango de0.25 a 4 mg/mL de al menos uno de losmicroorganismos utilizados. Los extractosque mostraron las menores concentracionesmínimas inhibitorias (CMI) frente a losmicroorganismos S. aureus y S. faecalis,representativos de Gram-positivos fueron el extracto hexánico y acetónico de Burseracopallifera y el hexánico de B. grandifolia.El extracto etanólico de Lippia graveolenslogró inhibir a C. albicans con una CMIde 1 mg/mL

Pathogenesis of Staphylococcus epidermidis in prosthetic joint infections : can identification of virulence genes differentiate between infecting and commensal strains?

Background: Staphylococcus epidermidis is a commensal of human skin flora and a frequent causative micro-organism in prosthetic joint infections (PJIs). To date, no single marker has been identified to distinguish infecting strains from commensal S. epidermidis populations. Aim: To find possible genetic markers to distinguish between the two populations. Methods: Fifty S. epidermidis strains from patients with PJIs were analysed, 50 from the skin of healthy individuals (commensal strains) and 17 from the surgical field of patients undergoing primary arthroplasty. In these three groups the antimicrobial susceptibility profile, sequence type, biofilm formation, and virulence factors were studied. Strains from the surgical field have not been compared previously with strains from the other two groups. Findings: S. epidermidis strains from PJI patients were significantly more antibiotic resistant than commensal strains and surgical field strains. A wide variety of sequence types was found in commensal and surgical field strains. The predominant sequence type was ST2 and it was only present in PJI strains (44%). Differences in biofilm production did not differ between populations. Virulence genes sdrF and bhp, the complete ica operon, and the insertion sequence IS256 were significantly predominant in PJI strains. By contrast, embp and hld genes and the arginine catabolic mobile element (ACME) were more prevalent in commensal strains. Surgical field strains could be a valid control group to discriminate between infecting and commensal strains. Conclusion: A combination of characteristic features can differentiate between infecting and commensal S. epidermidis strains in PJI, whereas a single marker cannot

Ionic conductivity of nanocrystalline yttria-stabilized zirconia: grain boundary and size effects

We report on the effect of grain size on the ionic conductivity of yttria-stabilized zirconia samples synthesized by ball milling. Complex impedance measurements, as a function of temperature and frequency are performed on 10 mol % yttria-stabilized zirconia nanocrystalline samples with grain sizes ranging from 900 to 17 nm. Bulk ionic conductivity decreases dramatically for grain sizes below 100 nm, although its activation energy is essentially independent of grain size. The results are interpreted in terms of a space-charge layer resulting from segregation of mobile oxygen vacancies to the grain-boundary core. The thickness of this space-charge layer formed at the grain boundaries is on the order of 1 nm for large micron-sized grains but extends up to 7 nm when decreasing the grain size down to 17 nm. This gives rise to oxygen vacancies depletion over a large volume fraction of the grain and consequently to a significant decrease in oxide-ion conductivity

Two novel variants of the ABCG5 gene cause xanthelasmas and macrothrombocytopenia: a brief review of hematologic abnormalities of sitosterolemia

[EN] Background: Sitosterolemia (STSL) is a recessive inherited disorder caused by pathogenic variants in the ABCG5 and ABCG8 genes. Increased levels of plasma plant sterols (PSs) usually result in xanthomas and premature coronary atherosclerosis, although hematologic abnormalities may occasionally be present. This clinical picture is unfamiliar to many physicians, and patients may be at high risk of misdiagnosis. Objectives: To report two novel ABCG5 variants causing STSL in a Spanish patient, and review the clinical and mutational landscape of STSL. Patient/Methods: A 46-year-old female was referred to us with lifelong macrothrombocytopenia. She showed familial hypercholesterolemia-related xanthomas. Molecular analysis was performed with high-throughput sequencing. Plasma PS levels were evaluated with gas–liquid chromatography. The STSL landscape was reviewed with respect to specific online databases and all reports published since 1974. Results: A blood smear revealed giant platelets and stomatocytes. Novel compound heterozygous variants were detected in exons 7 (c.914C>G) and 13 (c.1890delT) of ABCG5. The patient showed an increased plasma level of sitosterol. These findings support the diagnosis of STSL. In our review, we identified only 25 unrelated STLS patients who presented with hematologic abnormalities including macrothrombocytopenia