THE RELATIONSHIP BETWEEN MACROECONOMIC VARIABLES AND ROMANIAN CORPORATE DEFAULT RATES BETWEEN 2002-2008

During its 20 year history of market economy, Romania experienced the most severe downturn in 2009, which resulted in many cost, mainly because of the output loss. These conditions forced several firms to declare bankruptcy and to stop their activity. The aim of this research is to assess the relationship between the corporate default rates and the macroeconomic processes in the case of Romania for the period comprised between 2002Q1-2008Q4. For this, based on the relevant literature, we ranked the potential explanatory variables of the default rates into seven groups: cyclical indicators, household indicators, corporate indicators, external sector indicators, price stability indicators and interest rates, loans to private sector and finally the capital market indicators. Some studies base their results only on accounting data, others only on market data. Our study focuses on both, since this seems to be an adequate approach in capturing most of the processes. Similar to the banks' loan portfolio structure, we conducted analysis for five sectors: industry, construction, agriculture, services and the overall economy. For each sector the average default probability at time t is modeled as a logistic function of many general and sector-specific macroeconomic variables. The use of logistic regression was motivated by its ability to account for fractional data between 0 and 1. We found that at least one variable from each group has a significant explanatory power regarding the evolution of the default rates in all five sectors analyzed. In some cases the sign of the variables was the opposite of what the economic theory would have suggested, but it has to be taken into account that Romania posted the picture of an overheated economy during the analyzed period. Another important conclusion was that many variables were significant through their lagged value, which indicates an even better supervision of the evolution of the specific variables. From all the variables, the volatility of the BET-C index proves to be the most important in predicting the evolution of the default rates, as it didn't proved to be significant only for the construction sector. The evolution of FDI and the volatility of the BET-C index proved to be very important in determining the evolution of the corporate default rates, as well. The first was a very important factor in the financing of companies, especially during the analyzed period, and the risk meter is something that never should be disregarded when it comes of analyzing default rates.corporate default rate, macroeconomic processes, economic imbalances, logistic regression, lagged effects

Emotion Management in Children with Anxiety Disorders: A Focus on the Role of Emotion-related Socialization Processes

This study examined emotion management skills in anxious children and their mothers and investigated factors within the child and the parent, and the child-parent relationship that may relate to the development of adaptive emotion management. Three methods of emotion socialization were examined: parental reactions to children\u27s emotions, discussion of emotion, and family expressivity. Children ages 8-1 1 years old were first screened for anxious syrnptomatology in their classrooms within the public school system. Children who scored in the clinical range on the self-report measure were then administered a semi-structured diagnostic interview. Those who met criteria for an anxiety disorder were included in the study. A total of 12 anxious boys and 13 anxious girls and their mothers, and a control group matched for sex and age, participated in the study. Children were administered a variety of questionnaires that assessed their emotion management abilities, goals for emotion management, and perceptions of the family emotional and social climate. Mothers completed questionnaires that assessed their own emotional expressivity, view of their child\u27s emotion regulatory abilities, and perceptions of the family emotional and social climate. Children and their mothers also participated in an emotion-discussion task, in which they discussed a time the child felt negative emotions. Data were analyzed using simple correlational, regression, and Multivariate (MANOVA) techniques. Overall, results indicated that anxious children have difficulty managing emotionally evocative experiences and that their difficulties in modulating the intensity of emotional experience and a lack of self-efficacy should be considered as factors that may produce, maintain, andlor exacerbate anxiety. Mothers of anxious children did not indicate more maladaptive emotion management than mothers of control children and there were no significant correlations between children\u27s and mothers\u27 patterns of emotion management. This study revealed a theme of control in families with an anxious child with respect to truncated emotional expression, mothers\u27 reports of controlling behaviors, and observation of mothers\u27 behavior during an emotion discussion task. The implications of these results to the treatment of childhood anxiety are discussed

Psychometric properties of the Emotion Awareness Questionnaire for children

In order to broaden the alexithymia concept, we identified six aspects in a newly developed questionnaire for children which aims to measure emotion awareness: Differentiating Emotions, Verbal Sharing of Emotions, Bodily Awareness, Acting Out Emotions, Analyses of Emotions, and Others? Emotions. First, the six-factor structure of this Emotion Awareness Questionnaire was identified in children (692 children, 9-16 years old), although the scale Acting Out Emotions showed poor psychometric properties. Second, the predictive validity of the Emotion Awareness Questionnaire showed promise with respect to self-reported somatic complaints (in samples from two different countries, the UK and the Netherlands), depression and worry. Only Acting Out Emotions did not contribute to any of the criterion variables whilst Bodily Awareness and Others? Emotions contributed in the unexpected direction. It is proposed that the Emotion Awareness Questionnaire could help to identify which specific elements of emotional (dys)functioning are related to different kinds of psychological problems

Developmentally Sensitive Implementation of Core Elements of Evidence-Based Treatments: Practical Strategies for Youth With Internalizing Disorders

MANY TREATMENT APPROACHES for psychological disorders among children and adolescents are downward extensions of adult treatment models. According to Barrett (2000), when treatments for childhood disorders are based on cognitive behavioral models of adult disorders, clinicians may make inaccurate assumptions, such as viewing children as “little adults,” thereby failing to adjust treatment terminology for children and ignoring contextual factors such as families and peers. Subscribing to adult models may also result in a lack of awareness of research findings in the field of developmental psychology (e.g., cognitive abilities, social skills, emotion regulation) and, consequently, implementation of treatment strategies in a similar manner across levels of development (e.g., assuming all children possess the same level of meta-cognitive skills). As Kingery and colleagues (2006) emphasize, simply utilizing a treatment that has been developed for youth is not sufficient. Particularly when implementing manual-based CBT for youth with internalizing disorders, clinicians must be knowledgeable, creative, and flexible, taking each child’s individual cognitive, social, and emotional skills into consideration to provide the most developmentally appropriate intervention

The ceramide synthase 2b gene mediates genomic sensing and regulation of sphingosine levels during zebrafish embryogenesis

Sphingosine-1-phosphate (S1P) is generated through phosphorylation of sphingosine by sphingosine kinases (Sphk1 and Sphk2). We show that sphk2 maternal-zygotic mutant zebrafish embryos (sphk2MZ) display early developmental phenotypes, including a delay in epiboly, depleted S1P levels, elevated levels of sphingosine, and resistance to sphingosine toxicity. The sphk2MZ embryos also have strikingly increased levels of maternal transcripts encoding ceramide synthase 2b (Cers2b), and loss of Cers2b in sphk2MZ embryos phenocopies sphingosine toxicity. An upstream region of the cers2b promoter supports enhanced expression of a reporter gene in sphk2MZ embryos compared to wildtype embryos. Furthermore, ectopic expression of Cers2b protein itself reduces activity of the promoter, and this repression is relieved by exogenous sphingosine. Therefore, the sphk2MZ genome recognizes the lack of sphingosine kinase activity and up-regulates cers2b as a salvage pathway for sphingosine turnover. Cers2b can also function as a sphingolipid-responsive factor to mediate at least part of a feedback regulatory mechanism

A Featureless Approach to 3D Polyhedral Building Modeling from Aerial Images

This paper presents a model-based approach for reconstructing 3D polyhedral building models from aerial images. The proposed approach exploits some geometric and photometric properties resulting from the perspective projection of planar structures. Data are provided by calibrated aerial images. The novelty of the approach lies in its featurelessness and in its use of direct optimization based on image rawbrightness. The proposed framework avoids feature extraction and matching. The 3D polyhedral model is directly estimated by optimizing an objective function that combines an image-based dissimilarity measure and a gradient score over several aerial images. The optimization process is carried out by the Differential Evolution algorithm. The proposed approach is intended to provide more accurate 3D reconstruction than feature-based approaches. Fast 3D model rectification and updating can take advantage of the proposed method. Several results and evaluations of performance from real and synthetic images show the feasibility and robustness of the proposed approach

Developing a model of mental health self-care support for children and young people through an integrated evaluation of available types of provision involving systematic review, meta-analysis and case study

Background The mental health of children and young people (CYP) is a major UK public health concern. Recent policy reviews have identified that service provision for CYP with mental health needs is not as effective, responsive, accessible or child-centred as it could be. Following on from a previous National Institute for Health Research (NIHR) study into self-care support for CYP with long-term physical health needs, this study explored self-care support’s potential in CYP’s mental health. Objectives To identify and evaluate the types of mental health self-care support used by, and available to, CYP and their parents, and to establish how such support interfaces with statutory and non-statutory service provision. Design Two inter-related systematic literature reviews (an effectiveness review with meta-analysis and a perceptions review), together with a service mapping exercise and case study. Setting Global (systematic reviews); England and Wales (mapping exercise and case study). Participants (case study) Fifty-two individuals (17 CYP, 16 family members and 19 staff) were interviewed across six sites. Main outcome measures (meta-analysis) A measure of CYP’s mental health symptomatology. Data sources (literature reviews) MEDLINE, Cumulative Index to Nursing and Allied Health Literature (CINAHL), PsycINFO, All Evidence-Based Medicine (EBM) Reviews, Applied Social Sciences Index and Abstracts (ASSIA) and Education Resources Information Center (ERIC). Review methods Titles and abstracts of papers were screened for relevance then grouped into studies. Two independent reviewers extracted data from studies meeting the inclusion criteria. A descriptive analysis and meta-analysis were conducted for the effectiveness review; descriptive analyses were conducted for the perceptions review. These analyses were integrated to elicit a mixed-methods review. Results Sixty-five of 71 included studies were meta-analysable. These 65 studies elicited 71 comparisons which, when meta-analysed, suggested that self-care support interventions were effective at 6-month [standardised mean difference (SMD) = −0.20; 95% confidence interval (CI) −0.28 to −0.11] and 12-month (SMD = −0.12; 95% CI −0.17 to −0.06) follow-ups. However, judged against Cochrane criteria, the studies were mostly low quality. Key elements of self-care support identified in the perceptions review were the acquisition of knowledge and skills, peer support and the relationship with the self-care support agent; CYP also had different perceptions from adults about what is important in self-care support. The mapping exercise identified 27 providers of 33 self-care support services. According to the case study data, effective self-care support services are predicated on flexibility; straightforward access; non-judgemental, welcoming organisations and staff; the provision of time and attention; opportunities to learn and practise skills relevant to self-care; and systems of peer support. Conclusions Mental health self-care support interventions for CYP are modestly effective in the short to medium term. Self-care support can be conceptualised as a process which has overlap with ‘recovery’. CYP and their families want choice and flexibility in the provision of such interventions and a continued relationship with services after the nominal therapy period. Those delivering self-care support need to have specific child-centred attributes. Future work Future work should focus on under-represented conditions (e.g. psychosis, eating disorders, self-harm); the role of technology, leadership and readiness in self-care support; satisfaction in self-care support; the conceptualisation of self-care support in CYP’s mental health; and efficacy and cost-effectiveness

Assessing brain activations associated with emotional regulation during virtual reality mood induction procedures

Emotional regulation strategies are used by people to influence their emotional responses to external or internal emotional stimuli. The aim of this study is to evaluate the brain activations that are associated with the application of two different emotional regulation strategies (cognitive reappraisal and expressive suppression) during virtual reality mood induction procedures. We used Emotiv EPOC to measure the brain electrical activity of participants while sadness is induced using a virtual reality environment. We monitored 24 participants, who were distributed among three experimental groups: a control group, a cognitive reappraisal group and an expressive suppression group. In the control group, we found significant activations in several right frontal regions that are related to the induction of negative emotions . We also found significant activations in the limbic, occipital, and parietal regions in the emotional regulation groups. These regions are related to the application of emotional regulation strategies. The results are consistent with those shown in the literature, which were obtained through clinical neuroimaging systems.The work of A. Rodriguez was funded by the Spanish MEC under an FPI Grant BES-2011-043316. The work of Miriam Clemente was funded by the Generalitat Valenciana under a VALi+d Grant.Rodríguez Ortega, A.; Rey, B.; Clemente Bellido, M.; Wrzesien, M.; Alcañiz Raya, ML. (2015). Assessing brain activations associated with emotional regulation during virtual reality mood induction procedures. Expert Systems with Applications. 42(3):1699-1709. https://doi.org/10.1016/j.eswa.2014.10.006S1699170942