Influence of Financialization of Heavily Polluting Enterprises on Technological Innovation under the Background of Environmental Pollution Control

In the wake of the acceleration of China’s industrialization and rapid economic growth, environmental pollution has also attracted great attention. The technological innovation of heavily polluting enterprises is conducive to reducing pollution emissions and promoting environmental health. The financial investment tendency and behavior of real enterprises have a significant impact on the technological innovation decision-making of enterprises. A panel model is used in this paper in order to empirically test the impact of financialization of Chinese heavily polluting enterprises on technological innovation based on the data of Listed Companies in Chinese heavily polluting industries from 2008 to 2019. The + results show that the financialization of heavily polluting enterprises has a significant crowding out effect on technological innovation. After introducing arbitrage motivation as the regulating variable, further research finds that arbitrage motivation weakens the inhibitory effect of enterprise financialization on technological innovation, that is, the stronger the arbitrage motivation, the smaller the negative effect of financialization on enterprise technological innovation, which weakens this crowding out effect. Finally, the listed enterprises in heavily polluting industries are divided into state-owned enterprises and non-state-owned enterprises according to their corporate attributes. Compared with state-owned enterprises, the financialization of non-state-owned enterprises has a greater squeeze out of technological innovation; and arbitrage motivation has a more significant regulatory effect on the impact of enterprise financialization on technological innovation.

The pleiotropic functions of Intracellular hydrophobins in aerial hyphae and fungal spores

Higher fungi can rapidly produce large numbers of spores suitable for aerial dispersal. The efficiency of the dispersal and spore resilience to abiotic stresses correlate with their hydrophobicity provided by the unique amphiphilic and superior surface-active proteins–hydrophobins (HFBs)–that self-assemble at hydrophobic/hydrophilic interfaces and thus modulate surface properties. Using the HFB-enriched mold Trichoderma (Hypocreales, Ascomycota) and the HFB-free yeast Pichia pastoris (Saccharomycetales, Ascomycota), we revealed that the rapid release of HFBs by aerial hyphae shortly prior to conidiation is associated with their intracellular accumulation in vacuoles and/or lipid-enriched organelles. The occasional internalization of the latter organelles in vacuoles can provide the hydrophobic/hydrophilic interface for the assembly of HFB layers and thus result in the formation of HFB-enriched vesicles and vacuolar multicisternal structures (VMSs) putatively lined up by HFBs. These HFB-enriched vesicles and VMSs can become fused in large tonoplast-like organelles or move to the periplasm for secretion. The tonoplast-like structures can contribute to the maintenance of turgor pressure in aerial hyphae supporting the erection of sporogenic structures (e.g., conidiophores) and provide intracellular force to squeeze out HFB-enriched vesicles and VMSs from the periplasm through the cell wall. We also show that the secretion of HFBs occurs prior to the conidiation and reveal that the even spore coating of HFBs deposited in the extracellular matrix requires microscopic water droplets that can be either guttated by the hyphae or obtained from the environment. Furthermore, we demonstrate that at least one HFB, HFB4 in T. guizhouense, is produced and secreted by wetted spores. We show that this protein possibly controls spore dormancy and contributes to the water sensing mechanism required for the detection of germination conditions. Thus, intracellular HFBs have a range of pleiotropic functions in aerial hyphae and spores and are essential for fungal development and fitness.

Stock market dysfunctionality in Ukraine: factor of voucher privatisation

The author determines the peculiarities of privatisation processes in transformational economies compared with mature ones and considers the difference of the goal – to accelerate the development of the already existing stock market, and in fact, to create the market anew. Socio-economic transformations, privatisation of property and creation of market infrastructure are prerequisites but not a guarantee for the emergence of the domestic stock market as a specific institutional phenomenon, especially in the absence of adequate incentives for public equity. It is established that some local stock markets are degraded against the background of increasing size, globalisation, liquidity, and integration of world capital markets, including the Ukrainian one. It is stated that, unlike the neighbouring post-socialist states (firstly, Poland), the stock market has not been built in Ukraine as a basis for compelling attraction and allocation of capital. Paper substantiated that this is primarily a consequence of inefficient and protracted privatisation, mainly over-the-counter sale of shares, inconsistency of state and regulatory policy, optional iterations in the development of market infrastructure, the creation irrationality of privatised enterprises (even the smallest) exclusively in the form of open joint-stock companies, which die to their objective inability to raise public capital faced inadequate financial burden and coercion of listing on exchanges. The author identified the main problems of the Ukrainian stock market laid down during privatisation: excessively consolidated share capital structure, insecurity of minorities, meagre free-float and liquidity, conditional exchange pricing, the predominance of over-the-counter circulation of shares, etc. Emphasis is placed on the consequences of the attempt to implement the squeeze-out procedure in Ukraine. In the absence of market prices and the acquisition of control by dominant shareholders long before the legislative changes, the share buyback did not protect minorities. However, it led to significant investors’ losses, termination of circulation of shares of most issuers, even greater conditionality of indices, capitalisation and other indicators of market development. It is noted that the effectiveness of the announced state plans for the development of the stock market due to the privatisation of state property remains in doubt in the absence of prerequisites for balancing economic interests between market participants, the objectivity of pricing, incentives for public capital raising and effective institutional environment. It is concluded that in Ukraine, the focus on privatisation procedures in the stock market development has no prospects in the absence of adequate incentives for the public raising of capital.

Improvement of the Process of Mechanical Dehydration of Five-Layer Wet Leather Semi-finished Products

To improve the process of mechanical dehydration of semi-finished wet leather products, a multilayer dehydration using felt materials – monshons was experimentally investigated. The process is conducted by vertical feed of semi-finished wet leather products on a base plate between rotating squeezing rollers. The D-optimal method of mathematical planning of the experiment and the Kano design matrix were used for conducting experiments. The multi-layer package consists of five layers of semi-finished wet leather products and two layers of moistureremoving materials between each layer, folded over the base plate. The studies were carried out in laboratory conditions on an experimental bench, taking into account the production parameters of processing. As a result of the study, mathematical dependences of the amount of removed moisture for each of five layers of semifinished wet leather product on the feed speed and the pressure of the squeezing rollers were derived. The analysis of the results showed that, with the existing parameters of mechanical dehydration, it was possible to simultaneously squeeze out moisture from five layers of the semi-finished leather product with a minimum pressure of the squeezing rollers and an average feed speed. The productivity of the technological process was more than five times higher in comparison with the productivity of similar roller machines. In the near future, this research methodology will be used to determine the technological factors affecting the extraction of excess moisture from a package consisting of ten semi-finished wet leather products and moisture-removing materials.

Entscheidungen in Leitsätzen

Zusammenfassung Bundesgerichtshof Abtretung sämtlicher Ansprüche aus Kapitallebensversicherung als Zuwendung Prospekthaftung der Gründungsgesellschafter einer Fondsgesellschaft nur aufgrund spezialgesetzlicher Regelungen Vergütungsanspruch des nach Eröffnung des Insolvenzverfahrens bestellten gemeinsamen Vertreters der Anleihegläubiger Entbindung des Wirtschaftsprüfers von seiner Schweigepflicht durch Insolvenzverwalter („Wirecard“) Oberlandesgerichte Zur Strafbarkeit bei kontaktlosem Zahlen mit EC-Karte durch Nichtberechtigten Zur örtlichen Zuständigkeit für Rückzahlungsansprüche aus (Verbraucher-)Bankdarlehen bei späterer Wohnsitzverlegung des Bankkunden Verbraucherdarlehensvertrag: Anwendbarkeit der Gesetzlichkeitsfiktion für die Widerrufsinformation Zur Beweislast für die Erfüllung des Auszahlungsanspruchs des Inhabers einer Kraftloserklärung eines abhandengekommenen Sparbuchs Barabfindung: Hochrechnung des Börsenkurses für den Fall des Squeeze-out Zur Massezugehörigkeit von Guthaben auf einem Girokonto des Schuldners bei erfolgter „Freigabe“ i. S. d. § 35 Abs. 2 InsO Verbraucherdarlehensvertrag und Anmeldung zu einer Ratenschutz-Gruppenversicherung als verbundene Verträge Ablehnung der Eröffnung eines Basiskontos bei begründetem Verdacht der Geldwäsche Zur Anfechtung eines Kapitalerhöhungsbeschlusses wegen eines Treuepflichtverstoßes bei Kapitalerhöhung ohne Bezugsrechtsausschluss Landgerichte Zur Verjährung des Zinsnachzahlungsanspruchs bei Prämiensparvertrag mit unwirksamer Zinsänderungsklausel Bundesfinanzhof Veräußerung wertloser Aktien Steuerbarkeit des insolvenzbedingten Untergangs von Aktien

Fabrication and Mechanical Characterization of Jute-Coir Reinforced Unsaturated Polyester Resin Hybrid Composites with Various Fiber Size using Compression Moulding Technique

Fiber reinforced composites plays major role in improving the strength of various applications in current trends. Based on these trends the combination of natural jute/coir fiber hybrid composite of different size of fiber length was examined in this study. The hybrid fiber composite was fabricated by compression moulding technique by impregnating jute fiber and coir fiber with unsaturated polyester resin, Cobalt octoate and methyl-ethyl-ketone peroxide as accelerator and catalyst. Then the prepared mould placed into the oven to dry for 4 hrs. at 50°C beneath closely to vacuum condition then convert the cured mould to the hot press initially for 1 hr at 105°C under 84 bar pressure until while squeeze out the excess resin, then it was cooled in cold press under constant pressure of 275 bar pressure for 15 min to prevent the warpage of hybrid composites. The micro hardness, tensile, flexural, impact strength of hybrid composite was carried out and the morphology of the composites was evaluated and compared. The test results of the hybrid composite were analyzed by one way ANOVA analysis technique and it shows significant difference among the groups.

Short Note on Comparing Stacking Modelling Versus Cannistraci-Hebb Adaptive Network Automata for Link Prediction in Complex Networks

Link prediction is an iconic problem in complex networks because deals with the ability to predict nonobserved existing or future parts of the network structure. The impact of this prediction on real applications can be disruptive: from prediction of covert links between terrorists in their social networks to repositioning of drugs in molecular diseasome networks. Here we compare: (1) an ensemble meta-learning method (Ghasemian et al.), which uses an artificial intelligence (AI) stacking strategy to create a single meta-model from hundreds of other models; (2) a structural predictability method (SPM, Lü et al.), which relies on a theory derived from quantum mechanics and does not assume any model; (3) a modelling rule named Cannistraci-Hebb (CH, Muscoloni et al.), which relies on one brain-bioinspired model adapting to the intrinsic network structure.We conclude that brute-force stacking of algorithms by AI does not perform better than (and is often significantly outperformed by) SPM and one simple brain-bioinspired rule such as CH. This agrees with the Gödel incompleteness: stacking is optimal but incomplete, you cannot squeeze out more than what is already in your features. Hence, we should also pursue AI that resembles human-like physical ‘understanding’ of simple generalized rules associated to complexity. The future might be populated by AI that ‘steals for us the fire from Gods’, towards machine intelligence that creates new rules rather than stacking the ones already known.

Introduction

It was not a war to end all wars. It was not a war to destroy or truncate the Roman Empire in the east. The Persian aim at the outset was not even regime change, merely restoration of an ousted regime. But the fighting went on and on. There was a steady escalation in its scope and intensity with the passing years. After a decade of conflict, foreboding came upon contemporaries. The saints were plainly withdrawing their favour from mankind. God was turning his face from the present generation. The world and all things in it were being troubled because of man’s sinfulness, and those few who strove to squeeze out desire, ambition, envy, and other human feelings from their lives should withdraw and pray for a softening of God’s anger. For one distant observer, far to the south of the Fertile Crescent, where the two belligerent great powers were engaged in combat, the war presaged the end of time. The last days were at hand, when the earth would shake and the seas boil, when the sky would be torn apart and the stars scattered, when men would come face to face with the creator and manager of all things....