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Comprehensive Analysis of Systemic Risk in the UK: Copula Models and Spillover Dynamics in Response to External Shocks
No full textThis thesis provides a comprehensive analysis of systemic risk in the UK, focusing on the complex interactions between the financial and non-financial sectors and the effects of major external shocks, such as Brexit and the COVID-19 pandemic. The thesis is structured across three chapters, each focusing on different aspects of systemic risk in the UK. The analysis progresses from a static examination to a dynamic temporal analysis, and finally, to a high-dimensional dynamic spillover index, investigating the inter-industry spillover effects within the UK economy. Additionally, the thesis explores whether the definition of systemic risk can be broadened to include the impact of external shocks. In Chapter 2, the results indicate that the communication and consumer staples sectors are central to the UK’s industrial network, with higher nonlinear dependencies compared to other sectors. Notably, the financial sector exhibits the lowest systemic risk among the 50 companies analyzed, even at a 90% threshold, where systemic risk measures only reach 16.57%. Extending future periods for the financial sector further reduces systemic risk, with a more pronounced effect at lower thresholds. The findings of Chapter 3 indicate that government announcements related to Brexit reduced JPD values across all three systems. In contrast, COVID-19-related announcements had a more profound negative impact on systemic risk than actual case numbers. In Chapter 4, the analysis of inter-industry connections and spillover effects identifies key sectors that serve as primary transmitters or receivers of systemic risk during significant economic events. The financial and industrial sectors displayed strong interconnectedness around the Brexit referendum, indicating heightened market sensitivity. Conversely, the healthcare and energy sectors played a more prominent role during the COVID-19 pandemic. In summary, this thesis provides new insights into the measurement and analysis of systemic risk, emphasizing the importance of incorporating both internal and external factors.</p
Mepolizumab for COPD with Eosinophilic Phenotype following Hospitalization
No full textBackgroundAdmission to hospital with an acute exacerbation of chronic obstructive pulmonary disease (AECOPD) is associated with a high risk of morbidity and mortality. Biologic treatment reduces COPD exacerbations in patients with eosinophilic inflammation. Mepolizumab, a monoclonal antibody to interleukin 5, reduces eosinophilic inflammation, but its effects on future hospitalization and mortality are uncertain.MethodsIn this phase 2b, double-blind, placebo-controlled trial, we randomly assigned patients hospitalized with an AECOPD and a blood eosinophil count greater than or equal to 300 cells/μl any time in the preceding 12 months to receive either mepolizumab 100 mg or placebo every 4 weeks for 48 weeks, with treatment initiated at hospital discharge. The primary end point was the time to readmission or death from any cause. Key secondary end points included the number of hospital readmissions, exacerbations, and health-related quality of life.ResultsA total of 238 patients were randomly assigned. The median time to hospitalization or death due to any cause was 25.4 weeks and 26.1 weeks in the mepolizumab and placebo groups, respectively, with Kaplan-Meier estimates of 33.9% and 31.0%, respectively (hazard ratio, 0.96; 95% confidence interval [CI], 0.70 to 1.32; P=0.811). The adjusted mean number of hospital readmissions was 1.65 (95% CI, 1.25 to 2.05) with mepolizumab and 1.85 (95% CI, 1.42 to 2.29) with placebo (risk ratio, 0.89; 95% CI, 0.64 to 1.25). The adjusted mean number of moderate or severe exacerbations was 2.80 (95% CI, 2.36 to 3.23) with mepolizumab and 3.45 (95% CI, 2.94 to 3.95) with placebo (risk ratio 0.81; 95% CI, 0.66 to 1.00). The numbers of adverse events and serious adverse events were similar between groups. No serious adverse event was attributed to the intervention.ConclusionsPatients hospitalized with an AECOPD and eosinophilic inflammation of greater than 300 cells/μl of blood within the prior 12 months, had no benefit in risk of time to readmission or death following treatment with mepolizumab for 48 weeks. The observed change in moderate or severe exacerbations, which included the null in the upper bound of the 95% confidence interval, was in the direction observed in previous trials. (Funded by GSK plc; ClinicalTrials.gov number, NCT04075331.).</p
How and when CSR shapes employees’ environmental behavior: the role of psychological contract and environmental attitudes
No full textPurposeThis study explores the role of psychological contract in the relationship between corporate social responsibility (CSR) and employees’ environmental behavior. It draws on social exchange theory to develop a framework to unravel the underlying mechanism through which CSR impacts employees’ environmental behavior. In doing so, we examine the nature of how and when such effects occur.Design/methodology/approachData were collected and analyzed from a sample of 200 employees in Turkish small and medium-sized enterprises (SMEs). The analyses were conducted using structural equation modeling with MPlus software.FindingsThe results showed that CSR has a significant effect on employees’ environmental behavior. Transactional psychological contract and relational psychological contract mediate the relationship between CSR and employees’ environmental behavior. Furthermore, employees’ environmental attitudes moderate the mediated relationship between CSR and employees’ environmental behavior via relational psychological contract.Originality/valueThis study underscores that employees’ psychological responses (e.g., psychological contract) to organizational CSR initiatives and activities play a crucial role in understanding the relationship between perceived CSR and employees’ environmental behavior. Our findings also highlight the moderating role that employees’ environmental attitudes play in amplifying such an underlying mechanism.</p
The association between fibrotic diseases and treatment resistant hypertension in England
No full textAimsMultimorbidity has been identified as a research priority in recent years; fibrosis (progressive organ scarring) is one mechanism that may underpin multimorbidity. Some studies suggest hypertension could be fibrotic, particularly severe hypertension (uncontrollable with medications); however, it is not currently known whether severe hypertension is associated with fibrotic conditions. The objective is to investigate whether treatment-resistant hypertension is associated with fibrotic conditions.Methods and resultsWe used the Clinical Practice Research Datalink Aurum primary care database to define a cohort of people with hypertension during 2015. We determined the percentage of people who had conditions with fibrotic manifestations and explored differences respective to hypertension control. We applied multivariable logistic regression to analyse associations (P ConclusionThe proportion of people with fibrotic conditions was greater in those with treatment-resistant hypertension than managed hypertension. The identified associations between treatment-resistant hypertension and fibrotic conditions may point to common disease pathways, which should be further explored to understand shared mechanisms.</p
Interfinish 2024: 21st World Congress of the IUSF
No full textOn 25 th -26 th November, 2024, the 21st World Congress of International Union forSurface Finishing (IUSF) was successfully held in Hong Kong. This event was fundedby the Innovation and Technology Commission of the Government of the Hong KongSpecial Administrative Region, and hosted by IUSF and the Hong Kong SurfaceFinishing Society (HKSFS). The two-day event brought together many global elitesand experts in the surface treatment industry to discuss and share the latestbreakthroughs and trends in this important field. This follows the previous congressmeeting hosted in Nagoya (Japan), in 2021, which was first delayed and theneventually held on-line because of the Covid19 crisis. It was a delight to meet againin person; in total there were ca. 260 delegates from 9 countries across Asia, India,Europe and the USA. The theme of the meeting was Advanced Materials Finishing;Trends and the Future for Manufacturing, and much of this interest was focused onthe increasing interest and demands of sustainability. The meeting also encompassedthe interests of 8 distinct national and international materials finishing organisationsand so was a globally significant and inclusive event</p
Model-Free Deadbeat Predictive Current Control for Grid-connected Inverters using Autoregressive Model and Recursive Least Squares
No full textThis paper presents a novel Model-Free Deadbeat Predictive Current Controller (MF-DBPC) tailored for grid connected two-level inverters incorporating resistance-inductance (R-L) filters. Unlike traditional approaches, the MF-DBPC leverages a data-driven model derived solely from current and voltage measurements, eliminating the need for explicit systems parameter inputs. Central to the MF-DBPC’s functionality is an Auto-Regressive with Exogenous Input (ARX) model, complemented by a Recursive Least Squares (RLS) estimator for real-time parameter identification. This strategy offers enhanced adaptability to dynamic system conditions and achieve robustness against parameter mismatches inherent in grid-connected inverter systems. To demonstrate this, two distinct model-free predictive control strategies have been benchmarked: one grounded in the deadbeat control principle and the other utilizing a rolling optimization technique. Simulation analyses demonstrate that the MF-DBPC, driven by the deadbeat principle, yields superior current waveform quality while requiring a sampling frequency five times lower than its rolling optimization technique. Experimental validation further confirms the efficacy of the MF-DBPC across steady-state and dynamic performance metrics. Notably, its robustness against filter inductance mismatches is highlighted, showcasing resilience under challenging real-world conditions.</p
Hybridization of Religious and Eco-Habitus in Shaping Ecological Practice within the Christian Church
No full textThis paper explores how the Christian Church engages with environmental issues. Bymobilizing the concepts of religious habitus and eco-habitus and drawing on an ethnographicstudy of two Protestant ecological groups in Japan, we illustrate how Christian ecologicalgroups shape practices that involve ecological and religious dimensions.</p
An assessment of hypoxia-induced coral death via mathematical modeling
No full textCoral populations have been steadily declining for many years due to ocean warming, coastal development, and overfishing. Ocean deoxygenation is worsening this trend, affecting various aspects of coral health and leading to declines in coral fitness, physical size, species diversity, and overall coverage of the reef surface. Coral reefs are believed to be at, or approaching, tipping points, where further declines in ocean oxygen levels could lead to catastrophic disruptions in ecosystem functioning. The specific mechanisms that may be responsible for the coral’s decline are not well understood because of the complexity of relevant ecosystem processes, e.g., as given by interweaving positive and negative feedback. In particular, turf algae that often live in close vicinity of corals are known to respond to water warming positively by increasing primary production and producing more oxygen. Whether that extra oxygen can compensate for the oxygen decrease due to lesser oxygen solubility in warmer water remains unclear. Similarly, the role of accelerated bacterial growth via algal exudates in the overall oxygen balance remains poorly understood. Bacteria tend to concentrate around turf algae, being attracted by the availability of nutrients, and they also consume oxygen, as required for their respiration. In this paper, we have endeavored to address these questions theoretically by developing a novel mathematical model that explicitly includes corals, algae, bacteria, and oxygen, along with the interaction between these agents. The model (consisting of four coupled nonlinear ODEs) has been thoroughly investigated using rigorous mathematical tools and computer simulations. Our analysis has revealed several bifurcations, critical transitions, and long transients, some of them leading to coral extinctions.</p
Transcranial Doppler in the era of personalized medicine: an important tool for the assessment of cerebrovascular function
No full textBackground: Transcranial Doppler (TCD) and transcranial color-coded duplex sonography (TCCS) have been referred to as the “brain stethoscope” as they provide real-time monitoring of both hemodynamic parameters and the structural image of the vessel and neighboring tissues. Its use has made important contributions to the field, with the ability to monitor important variables such as cerebral blood velocity (CBv) to study cerebrovascular function. Although the use of B-mode with color-coded imaging allows identification of the vessel of interest in a more user-friendly approach compared to non-imaging TCD, TCD has unique functions that are complementary to TCCS studies. The aim of this review is to introduce these unique functions of TCD and discuss scenarios where the use of TCD would be justified without the combined use of TCCS.
Summary: Due to its portability and non-invasive nature, TCD is a reliable option for monitoring cerebrovascular conditions; with the ability to perform long periods of monitoring via a dedicated head frame or band. This provides an opportunity to monitor cerebrovascular function which could be named TCD functional monitoring (TCD fm). Importantly, TCD can be used to evaluate the main mechanisms involved in cerebral blood flow regulation (CBFr) such as cerebral autoregulation (CA) and neurovascular coupling (NVC). Cerebral autoregulation refers to the ability of the brain to maintain cerebral blood flow despite changes in systemic arterial blood pressure. NVC evaluates the CBF response to local cerebral metabolism and neural activation. Both mechanisms are important in physiological and pathological conditions. Understanding and monitoring cerebrovascular regulation could develop new insights to design personalized treatments which may lead to better prognosis and outcome for patients. Moreover, TCD fm may be implemented for microembolism detection during long periods of recording, enhancing the ability to detect embolic activity. All these unique applications of TCD strengthen the importance of the method. Furthermore, several functions of TCCS could be accomplished using TCD, which is less expensive when compared to modern TCCS devices, and therefore is a reasonable option for low income countries.
Key Messages: TCD has utilities that are not covered by TCCS and considering the economic impact of broadening its use in specific areas, such as those with resource limitations, it is a reasonable option for the standard method for evaluation of cerebrovascular function. Further research is needed to combine these two modalities to provide a solution to the current limitations of using TCD and TCCS in isolation.</p
Cyclization regulated fluorescent emission on multiple conjugate acceptors: mechanistic studies and protein labeling applications in living cells
No full textWith this research, we introduce and validate the cyclization-regulated fluorescence emission (CRFE) as a photophysical mechanism that activates fluorescence through chemically triggered cyclization. This mechanism, developed from traditional fluorescence principles, generates fluorescence emission only when the rigidity of the lower part of the molecule increases through cyclization, while still satisfying the conditions of other fluorescence mechanisms. The universality of this mechanism was verified in multiple conjugate acceptors derived by integrating different fluorophores into a single conjugated acceptor via Suzuki coupling. The photophysical properties of these molecules were characterized, with density functional theory (DFT) calculations providing insight into the conformational and electronic changes occurring during excitation. It is concluded that cyclization stabilizes the conjugated double bond during excitation, facilitating fluorescence emission. Guided by the mechanism and chemical reactivity, a typical fluorescent probe was exploited for the selective labeling of vicinal thiol groups on target proteins, both in vitro and in living cells. This work presents a new pathway for the design of fluorescent probes with activable photoluminescence, highlighting the potential applications in bioimaging, protein dynamics tracking, and biosensing.</p