The Local Compressibility of Liquids near Non-Adsorbing Substrates: A Useful Measure of Solvophobicity and Hydrophobicity?

We investigate the suitability of the local compressibility chi(z) as a measure of the solvophobicity or hydrophobicity of a substrate. Defining the local compressibility as the derivative of the local one-body density w.r.t. the chemical potential at fixed temperature, we use density functional theory (DFT) to calculate chi(z) for a model fluid, close to bulk liquid-gas coexistence, at various planar substrates. These range from a `neutral' substrate with a contact angle of approximately 90 degrees, which favours neither the liquid nor the gas phase, to a very solvophobic, purely repulsive substrate which exhibits complete drying (i.e. contact angle 180 degrees). We find that the maximum in the local compressibility, which occurs within one-two molecular diameters of the substrate, and the integrated quantity chi_ex (the surface excess compressibility, defined below) both increase rapidly as the contact angle increases and the substrate becomes more solvophobic. The local compressibility provides a more pronounced indicator of solvophobicity than the density depletion in the vicinity of the surface which increases only weakly with increasing contact angle. When the fluid is confined in a parallel slit with two identical solvophobic walls, or with competing solvophobic and solvophilic walls, chi(z) close to the solvophobic wall is altered little from that at the single substrate. We connect our results with simulation studies of water near to hydrophobic surfaces exploring the relationship between chi(z) and fluctuations in the local density and between chi_ex and the mean-square fluctuation in the number of adsorbed molecules.Comment: 23 pages, 9 figures, submitted to Journal of Physics: Condensed Matter as a Special Issue Articl

EU Banks Rating Assignments: Is there Heterogeneity between New and Old Member Countries?

We model EU countries’ bank ratings using financial variables and allowing for intercept and slope heterogeneity. Our aim is to assess whether “old” and “new” EU countries are rated differently and to determine whether “new” ones are assigned lower ratings, ceteris paribus, than “old” ones. We find that country-specific factors (in the form of heterogeneous intercepts) are a crucial determinant of ratings. Whilst “new” EU countries typically have lower ratings than “old” ones, after controlling for financial variables we also discover that all countries have significantly different intercepts, confirming our prior belief. This intercept heterogeneity suggests that each country’s rating is assigned uniquely, after controlling for differences in financial factors, which may reflect differences in country risk and the legal and regulatory framework that banks face (such as foreclosure laws). In addition, we find that ratings may respond differently to the liquidity and operating expenses to operating income variables across countries. Typically ratings are more responsive to the former and less sensitive to the latter for “new” EU countries compared with “old” EU countries.EU countries, banks, ratings, ordered probit models, index of indicator variables

EU Banks Rating Assignments: Is there Heterogeneity between New and Old Member Countries?

We model EU countries' bank ratings using financial variables and allowing for intercept and slope heterogeneity. Our aim is to assess whether "old" and "new" EU countries are rated differently and to determine whether "new" ones are assigned lower ratings, ceteris paribus, than "old" ones. We find that country-specific factors (in the form of heterogeneous intercepts) are a crucial determinant of ratings. Whilst "new" EU countries typically have lower ratings than "old" ones, after controlling for financial variables we also discover that all countries have significantly different intercepts, confirming our prior belief. This intercept heterogeneity suggests that each country's rating is assigned uniquely, after controlling for differences in financial factors, which may reflect differences in country risk and the legal and regulatory framework that banks face (such as foreclosure laws). In addition, we find that ratings may respond differently to the liquidity and operating expenses to operating income variables across countries. Typically ratings are more responsive to the former and less sensitive to the latter for "new" EU countries compared with "old" EU countries.EU countries, banks, ratings, ordered probit models, index of indicator variable

Rating Assignments: Lessons from International Banks

This paper estimates ordered logit and probit regression models for bank ratings which also include a country index to capture country-specific variation. The empirical findings provide support to the hypothesis that the individual international bank ratings assigned by Fitch Ratings are underpinned by fundamental quantitative financial analyses. Also, there is strong evidence of a country effect. Our model is shown to provide accurate predictions of bank ratings for the period prior to the 2007 – 2008 banking crisis based upon publicly available information. However, our results also suggest that quantitative models are not likely to be able to predict ratings with complete accuracy. Furthermore, we find that both quantitative models and rating agencies are likely to produce highly inaccurate predictions of ratings during periods of financial instability.international banks, ratings, ordered choice models, country index

Rating Assignments: Lessons from International Banks

This paper estimates ordered logit and probit regression models for bank ratings which also include a country index to capture country-specific variation. The empirical findings provide support to the hypothesis that the individual international bank ratings assigned by Fitch Ratings are underpinned by fundamental quantitative financial analyses. Also, there is strong evidence of a country effect. Our model is shown to provide accurate predictions of bank ratings for the period prior to the 2007 - 2008 banking crisis based upon publicly available information. However, our results also suggest that quantitative models are not likely to be able to predict ratings with complete accuracy. Furthermore, we find that both quantitative models and rating agencies are likely to produce highly inaccurate predictions of ratings during periods of financial instability.International banks, ratings, ordered choice models, country index

A systematic approach to an integrated curriculum model for dental education

The purpose of this quantitative study was to determine the degree of curriculum integration within dental schools in North America. The intent of the study was to determine how an adaptation of the Fogarty (1991) framework of integration exhibits itself in dental education; An electronic survey conducted of the Academic Deans of dental schools in the United States and Canada resulted in a response rate of 54.09% (33/61). Frequencies, chi-square and Spearman rho (p) correlation coefficient were used for the statistical analyses of data; All survey respondents reported that their curricula include all levels of integration which comprise the adapted integration framework. Six demographic variables were selected for analysis: (a) age of the school, (b) years of faculty teaching experience at that specific school, (c) faculty gender, (d) faculty employment status, (e) number of departments, and (f) average class size. Based on the data collected, statistically significant findings were indicated in only one level of integration. Within Level 4, within and across learners, significant findings were detected between genders; Additionally, the findings of this study indicated that there was very little, if any correlation, between the level of integration and the combined use of technology and research at responding schools

The impact of maternal obesity on vascular and metabolic function throughout pregnancy.

Maternal obesity increases the risk of numerous maternal and fetal complications of pregnancy. Women were recruited at booking for antenatal care. Each subject was examined in the first, Second and third trimester of pregnancy as well as twelve weeks post partum. Using non invasive techniques microvasular function was measured at each visit. Fasting bloods were taken. This assessment allowed us to observe microvascular function, inflammatory response, dislipidaemia and changes in fatty acid composition with advancing gestation and the degree of recovery in the post partum. By recruitment of women with varying body mass index (BMI) values we were able to examine the influence of maternal BMI on these responses to pregnancy

Hydrologic impacts due to land cover change in the Yellowwood Lake watershed

The Yellowwood Lake watershed in Southern Indiana has experienced land cover change due to forest harvest throughout the last century. A group of local stakeholders have identified sedimentation into the lake and surface erosion as major concerns for the watershed. The main objective of this study is to better understand how forest harvest methods applied within the watershed effect hydrologic and soil erosion processes. Such knowledge is required to develop a more comprehensive plan to protect the watershed. ^ The Distributed Hydrology-Soil-Vegetation Model (DHSVM) was used for this analysis. This is a physically based, distributed hydrology model that simulates the water and energy balance at the scale of the digital elevation model (DEM). The DHSVM sediment model also simulates hillslope erosion by overland flow and raindrop impact. A sensitivity study was conducted on the model to better understand the effect of forest thinning on the hydrology of the watershed, which was simulated by adjusting the user input fractional coverage parameter of the forest vegetation. Updates were made to the calculation of aerodynamic roughness to produce a more continuous change in displacement height with thinning forest density. Current harvest management, as prescribed by the Indiana Department of Natural Resources, was input to the model using a mixture of fractional coverage values to represent the change in canopy density due to harvest prescriptions throughout the watershed. The simulated output from the forest harvest scenario was compared to output produced using a non-harvested scenario for water years 1961-2013. The results indicate that harvest resulted in statistically significant increases to streamflow metrics related to high and low flow frequency. Flow magnitudes for 1.1 year return period flows also increased by as much as 12%. Results from the DHSVM sediment model showed that the annual sediment load into the lake increased after forest harvest. The watershed also experienced greater loss of soil in areas with steep slopes and under the clear-cut harvest prescription. It is recommended that the forest managers avoid a clear-cut prescription and harvesting on slopes steeper than 7.5% in order to reduce some of these effects