Bank credit lending to small and medium enterprises: was there a credit crunch in Italy?

The present paper investigates the existence of credit rationing in the Italian corporate bank loan market by estimating a demand-supply disequilibrium model for bank credit in the period 2007-2012. From this model, we derive the proportion of credit rationed companies using a panel data set of private Italian SMEs. The results of our study show that, over the period 2007-2012, private Italian SMEs were credit rationed, especially in the years 2007, 2008, 2011 and 2012

Tiotropium is less likely to induce oxygen desaturation in stable COPD patients compared to long-acting β2-agonists

SummaryIn a three-way crossover pilot study, the acute effects of tiotropium 18μg inhalation on the respiratory function and arterial blood gas tensions of 30 patients with stable chronic obstructive pulmonary disease (COPD) were compared with those of salmeterol 50μg and formoterol 12μg. In each study day, lung function and arterial blood gas analyses were performed before and up to 180min after inhalation. All treatments significantly improved lung function, increased DLco, decreased PaO2, and increased P(A-a)O2, with no change in PaCO2. The effects of salmeterol and tiotropium on PaO2 were slower in onset and more prolonged than those of formoterol but PaO2AUC0–180min was significantly greater for formoterol and salmeterol than for tiotropium. It is likely that the significant but small decreases in PaO2 and increases in P(A-a)O2 have been caused by pulmonary vasodilator effects. Since the three agents were similar in inducing bronchodilation, we believe that tiotropium is preferable in patients with hypoxemia caused by stable COPD because it seems to carry a smaller risk of worsening systemic hypoxemia

trabecular bone score tbs and bone metabolism in patients affected with type 1 neurofibromatosis nf1

In patients with neurofibromatosis type 1 (NF1), decreased bone mineral density (BMD) and low levels of 25-hydroxy vitamin D3 (25OHD) have been reported. Recently, the trabecular bone score (TBS) measurement has been proposed as index of bone microarchitecture and fracture risk. In 74 NF1 patients (48 females, 26 males, age 41 ± 12), we measured TBS and investigated clinical stage, lifestyle, vitamin D, serum bone turnover markers, vertebral and femoral BMD. A homogenous cohort of 61 healthy subjects was used as control group. TBS was lower in NF1 patients (1.266 ± 0.113 vs. 1.346 ± 0.105) without differences between sexes. No correlations with 25OHD, low exercise, low calcium intake, reduced sun exposure, and number of skin neurofibromas were observed. As expected, hypovitaminosis D was common (98.6%), as well as BMD reduction in hip and spine sites: In NF1 patients, bone texture evaluated by TBS was low in both sexes without any correlation with clinical or metabolic parameters, suggesting a direct role of the fibromin mutation

PRENYLATED CURCUMIN ANALOGUES AS MULTIPOTENT TOOLS TO TACKLE ALZHEIMER'S DISEASE

Alzheimer's disease is likely to be caused by copathogenic factors including aggregation of A\u3b2 peptides into oligomers and fibrils, neuroinflammation and oxidative stress. To date, no effective treatments are available and because of the multifactorial nature of the disease, it emerges the need to act on different and simultaneous fronts. Despite the multiple biological activities ascribed to curcumin as neuroprotector, its poor bioavailability and toxicity limit the success in clinical outcomes. To tackle Alzheimer's disease on these aspects, the curcumin template was suitably modified and a small set of analogues was attained. In particular, derivative 1 turned out to be less toxic than curcumin. As evidenced by capillary electrophoresis and transmission electron microscopy studies, 1 proved to inhibit the formation of large toxic A\u3b2 oligomers, by shifting the equilibrium towards smaller non-toxic assemblies and to limit the formation of insoluble fibrils. These findings were supported by molecular docking and steered molecular dynamics simulations which confirmed the superior capacity of 1 to bind A\u3b2 structures of different complexity. Remarkably, 1 also showed in vitro anti-inflammatory and anti-oxidant properties. In summary, the curcumin-based analogue 1 emerged as multipotent compound worth to be further investigated and exploited in the Alzheimer's disease multi-target context

3cixty@Expo Milano 2015: Enabling Visitors to Explore a Smart City

-Planning a visit to Expo Milano 2015 or simply touring in Milan are activities that require a certain amount of a priori knowledge of the city. In this paper, we present the process of building such a comprehensive knowledge base, the 3cixty KB, that contains descriptions of events, places, transportation facilities and social activities, collected from numerous static, near-and real-time local and global data providers, including Expo Milano 2015 official services and several social media platforms. Entities in the 3cixty KB are deduplicated, interlinked and enriched using semantic technologies. The 3cixty KB is empowering the Ex-plorMI 360 multi-device application, which has been officially endorsed by the E015 Technical Management Board and has gained the patronage of Expo Milano 2015, thus offering a unique testing scenario for the 20 million expected visitors along the 6 months of the exhibit. As of Septem-ber 7th, 2015 the 3cixty KB contains unique descriptions of 18, 665 events, 758 artists, 225, 552 places, 9, 342 transportation facilities, 95, 570 illustrating photos and 94, 789 reviews contributed by 81, 944 users. The 3cixty KB is accessible at http://3cixty.eurecom.fr/sparql while Ex-plorMI 360 at https://www.3cixty.com

Inter-society consensus for the use of inhaled corticosteroids in infants, children and adolescents with airway diseases

Background: In 2019, a multidisciplinary panel of experts from eight Italian scientific paediatric societies developed a consensus document for the use of inhaled corticosteroids in the management and prevention of the most common paediatric airways disorders. The aim is to provide healthcare providers with a multidisciplinary document including indications useful in the clinical practice. The consensus document was intended to be addressed to paediatricians who work in the Paediatric Divisions, the Primary Care Services and the Emergency Departments, as well as to Residents or PhD students, paediatric nurses and specialists or consultants in paediatric pulmonology, allergy, infectious diseases, and ear, nose, and throat medicine. Methods: Clinical questions identifying Population, Intervention(s), Comparison and Outcome(s) were addressed by methodologists and a general agreement on the topics and the strength of the recommendations (according to the GRADE system) was obtained following the Delphi method. The literature selection included secondary sources such as evidence-based guidelines and systematic reviews and was integrated with primary studies subsequently published. Results: The expert panel provided a number of recommendations on the use of inhaled corticosteroids in preschool wheezing, bronchial asthma, allergic and non-allergic rhinitis, acute and chronic rhinosinusitis, adenoid hypertrophy, laryngitis and laryngospasm. Conclusions: We provided a multidisciplinary update on the current recommendations for the management and prevention of the most common paediatric airways disorders requiring inhaled corticosteroids, in order to share useful indications, identify gaps in knowledge and drive future research

High‐tech Start‐up Access to Public Funds and Venture Capital: Evidence from Italy

Abstract Several studies have highlighted that new technology‐based firms (NTBFs) are often financially constrained, with these constraints hindering firms’ growth and even threatening their survival. Even though the provision of venture capital (VC) may allow firms to overcome these constraints, VC supply may be fairly limited, especially in bank‐based countries such as Italy and the cost of accessing VC funds may be too high for most young high‐tech firms. Policy makers may try to relax the financial constraints suffered by NTBFs through the provision of direct subsidies to firms. Technology policy may also aim at signalling the high quality of subsidized firms to external investors, reducing information asymmetries. However, policy makers may not be able to identify those firms that most need public aid. In this paper we investigate the determinants of NTBF access to public funds and venture capital. This analysis enables us to draw some considerations both on the investment selection criteria adopted by venture capitalists and on the existing Italian technology policy’s capacity to address NTBFs’ financial constraints. In order to do so, we consider a sample composed of 550 Italian NTBFs that operate in both manufacturing and services and resort to the estimation of a dynamic bivariate survival model so as to highlight simultaneously the determinants of firms’ access to both these modes of financing. The results of our estimates only partially confirm the relevance of founders’ competencies as important drivers of VC investment decisions, pointing to the multifaceted nature of human capital, and suggest the presence of inefficiencies in venture capital markets that are not alleviated by the existing Italian technology policy measures towards high‐tech start‐ups.New technology‐based firms, venture capital, public subsidies, technology policy,