An analysis of the federal securities act of 1933.

Thesis (M.B.A.)--Boston Universit

The information revolution and small business lending: the missing evidence

This paper provides empirical confirmation for Petersen and Rajan's (2002) widely accepted conjecture that information technology was the primary driver of the observed increase in small business borrower-lender distances in the United States in recent years. Using a different data source for small business loans, we show that annual increases in borrower-lender distances were slow and steady prior to 1993 (the end point in Petersen and Rajan's data) but accelerated rapidly after that. Importantly, we are able to assign at least half of this acceleration to the adoption of credit scoring technologies by the lending banks. Our tests also reveal strong statistical associations between lending distances and borrower characteristics, lender characteristics, market conditions, regulatory constraints, moral hazard incentives, and principal-agent incentives.

Commercial lending distance and historically underserved areas

We study recent changes in the geographic distances between small businesses and their bank lenders, using a large random sample of loans guaranteed by the Small Business Administration. Consistent with extant research, we find that small borrower-lender distances generally increased between 1984 and 2001, with a rapid acceleration in distance beginning in the late-1990s. We also document a new phenomenon: a fundamental reordering of borrower-lender distance by the borrowers' neighborhood income and race characteristics. Historically, borrower-lender distance tended to be shorter than average for historically underserved (for example, low-income and minority) areas, but by 2000 borrowers in these areas tended to be farther away from their lenders on average. This structural change is coincident in time with the adoption of credit scoring models that rely on automated lending processes and quantitative information, and we find indirect evidence consistent with this link. Our findings suggest that there has been increased entry into local markets for small business loans and this should help allay fears that movement toward automated lending processes will reduce small businesses' access to credit in already underserved markets.

Pilbara coastal flora

The Pilbara coastal region is an area which will have increased human pressure both for work and recreation. In recent years, rapid expansion of townsites along the coast has meant that areas which were once stable have come under threat. Conservation measures will be needed to protect the coastline, and to ensure that the beauty of the coastal landscape: an be enjoyed by future generations

Type I Interferon regulates cytokine-delayed neutrophil apoptosis, reactive oxygen species production and chemokine expression via activation of p38 MAPK

ABSTRACTInterferons (IFNs) are key regulators of a number of inflammatory conditions in which neutrophils play an important role in pathology, such as rheumatoid arthritis (RA) and systemic lupus erythematosus (SLE), where Type I IFNs are implicated in disease pathology. However, IFNs are usually generated in vivo together with other cytokines that also have immunoregulatory functions but such interactions are poorly-defined experimentally. We measured the effects of Type-I IFN (IFNα), elevated in both RA and SLE, on the functions of healthy neutrophils incubated in vitro in the absence and presence of pro-inflammatory cytokines typically elevated in inflammatory diseases (TNFα, GM-CSF). IFNα alone had no effect on neutrophil apoptosis, however it did abrogate the anti-apoptotic effect of GM-CSF (18h, p&lt; 0.01). The enhanced stabilty of the anti-apoptotic protein Mcl-1 and delayed activation of caspase activation normally regulated by GM-CSF were blocked by IFNα: this effect was mediated, in part, by activation of p38 MAPK, increased turnover of the anti-apoptotic protein Mcl-1 and cleavage of caspases. IFNα alone also primed ROS production alone and maintained the transient priming effect of TNF for up to 4h: it also down-regulated GM-CSF and TNFα-activated expression of CXCL1, CXCL2, CXCL3, CXCL8, CCL3 and CCL4, but in contrast increased the expression of CXCL10. These novel data identify complex regulatory signalling networks in which Type I IFNs profoundly alter the response of neutrophils to inflammatory cytokines. This is likely to have important consequences in vivo and may explain the complexity and heterogeneity of inflammatory diseases such as RA, in which multiple cytokine cascades have been activated.</jats:p

Evaluation of Passing Process on Two-Lane Rural Highways in Spain with New Methodology Based on Video Data

Drivers need sufficient passing sight distance (PSD) to pass slower vehicles with safety. This distance can help to improve traffic operation on two-way, two-lane highways. Existing models propose different values of PSD because of different assumptions. In only some cases were these models based on field data of passing maneuvers. This research proposed the design of a methodology to observe passing maneuvers on existing highways with the help of six video cameras installed at a fixed point next to passing sections. The use of more cameras allows complete registration of trajectories along the entire passing zone, with uniform image resolution. The methodology was applied to register a sample of 234 maneuvers on four passing zones. Trajectories of 58 maneuvers were completely described and analyzed with specific restitution software. Results were compared with those from existing PSD models. The distances traveled proposed by the AASHTO model on the left lane were (a) similar to average observed distances when the passed vehicle was one truck and (b) between 50 and 100 m higher when one passenger car was passed. Higher differences, greater than 100 m, were found between measured data and the PSD model (published previously), especially at high design speeds. The observed average speed difference between passing and impeding vehicles was significantly higher than that in any model. Variables with the strongest influence on the time and distance traveled on the opposing lane were the type and speed of the passed vehicle and the length of the passing zone. Left-lane time and distance increase with this length.Llorca Garcia, C.; García García, A. (2011). Evaluation of Passing Process on Two-Lane Rural Highways in Spain with New Methodology Based on Video Data. Transportation Research Record. 2262:42-51. doi:10.3141/2262-05S42512262Farah, H., Bekhor, S., & Polus, A. (2009). Risk evaluation by modeling of passing behavior on two-lane rural highways. Accident Analysis & Prevention, 41(4), 887-894. doi:10.1016/j.aap.2009.05.006Rilett, L. R., Hutchinson, B. G., & Whitney, M. (1990). Mechanics of the passing maneuver and the impact of large trucks. Transportation Research Part A: General, 24(2), 121-128. doi:10.1016/0191-2607(90)90019-3Wang, Y., & Cartmell, M. P. (1998). New Model for Passing Sight Distance on Two-Lane Highways. Journal of Transportation Engineering, 124(6), 536-545. doi:10.1061/(asce)0733-947x(1998)124:6(536)Polus, A., Livneh, M., & Frischer, B. (2000). Evaluation of the Passing Process on Two-Lane Rural Highways. Transportation Research Record: Journal of the Transportation Research Board, 1701(1), 53-60. doi:10.3141/1701-07Carlson, P., Miles, J., & Johnson, P. (2006). Daytime High-Speed Passing Maneuvers Observed on Rural Two-Lane, Two-Way Highway: Findings and Implications. Transportation Research Record: Journal of the Transportation Research Board, 1961, 9-15. doi:10.3141/1961-02Harwood, D. W., Gilmore, D. K., & Richard, K. R. (2010). Criteria for Passing Sight Distance for Roadway Design and Marking. Transportation Research Record: Journal of the Transportation Research Board, 2195(1), 36-46. doi:10.3141/2195-0

Exploring real-time functional magnetic resonance imaging neurofeedback in adolescents with disruptive behavior disorder and callous unemotional traits

Introduction: Adolescents with increased callous unemotional traits (CU traits) in the context of disruptive behavior disorder (DBD) show a persistent pattern of antisocial behavior with shallow affect and a lack of empathy or remorse. The amygdala and insula as regions commonly associated with emotion processing, empathy and arousal are implicated in DBD with high CU traits. While behavioral therapies for DBD provide significant but small effects, individualized treatments targeting the implicated brain regions are missing. Methods: In this explorative randomized controlled trial we randomly assigned twenty-seven adolescents with DBD to individualized real-time functional magnetic resonance neurofeedback (rtfMRI-NF) or behavioral treatment as usual (TAU). Visual feedback of either amygdala or insula activity was provided during rtfMRI-NF by gauges and included a simple and concurrent video run plus a transfer run. A linear mixed model (LMM) was applied to determine improvement of self-regulation. Specificity was assessed by correlating individual self-regulation improvement with clinical outcomes. Results: The rtfMRI-NF (n = 11) and TAU (n = 10) completers showed comparable and significant clinical improvement indicating neither superiority nor inferiority of rtfMRI-NF. The exploratory LMM revealed successful learning of self-regulation along the course of training for participants who received feedback from the amygdala. A significant exploratory correlation between individual target region activity in the simple run and clinical improvement was found for one dimension of DBD. Conclusions: This exploratory study demonstrated feasibility and suggests clinical efficacy of individualized rtfMRI-NF comparable to active TAU for adolescents with DBD and increased CU traits. Further studies are needed to confirm efficacy, specificity and to clarify underlying learning mechanisms

161. The Potential Role of Extensor Muscle Fatigue in the Onset of Intervertebral Disc Degeneration: A Novel In Vivo Model

BACKGROUND CONTEXT: Occupation is strongly correlated to low back pain (LBP). Specific occupational activities associated with low back pain include poor posture, whole body vibration, and repetitive lifting. These activities have a common link: they result in fatigue of the primary spinal extensor musculature. This fatigue may lead to increased intervertebral loading - a stimulus for disc degeneration. If true, this association could provide a vital connection between detrimental physical activities and LBP. However, the link between muscle fatigue and increased load across the disc space has never been quantified in vivo. PURPOSE: The purpose of this study was to develop and test a wireless multi-axial force-sensing implant and large animal model of primary extensor muscle fatigue. Combined, these tools allow measurement of in vivo spinal forces during muscle fatigue to quantify changes in spine loading