Firm-Specific Risk-Neutral Distributions with Options and CDS

We propose a method to extract the risk-neutral distribution of firm-specific stock returns using both options and credit default swaps (CDS). Options and CDS provide information about the central part and the left tail of the distribution, respectively. Taken together, but not in isolation, options and CDS span the intermediate part of the distribution, which is driven by exposure to the risk of large, but not extreme, returns. Through a series of asset-pricing tests, we show that this intermediate-return risk carries a premium, particularly at times of heightened market stress. This paper was accepted by David Simchi-Levi, finance.

New strategy of color and power doppler sonography combined with DMSA in the assessment of acute pyelonephritis in infants

Background The purpose of this study was to evaluate the clinical value of color and power doppler sonography (CPDS) when combined it with 99mTc-dimercaptosuccinic acid scintigraphy (DMSA) in assessment of acute pyelonephritis (APN) in infants. Methods A total of 79 children with APN admitted to our hospital from June 2016 to Jan 2019 were enrolled, including 52 boys and 27 girls, age range 1 month to 3 years old. All cases followed the diagnostic criteria for acute pyelonephritis and excluded anatomical abnormalities of urinary system. All 79 patients were examined by urinary ultrasonography (US), CPDS, and DMSA within 48 h of fever and analyzed the clinical value of combining the two methods in the assessment of APN in infants. Results Among 79 children, urinary ultrasonography revealed 2 cases of renal cortical echo changes, both located in the upper pole of the kidney, 24 cases of kidney enlargement, and 1 case of left kidney shrinkage. Ninety-five kidneys were shown to be diseased with DMSA, while 105 kidneys abnormal by CPDS. The sensitivity of CPDS was 69.4%, and the specificity was 38.1%. In children younger than 6 months, the sensitivity of CPDS was 56.9%, which was 84.2% in childeren between 6 months to 1 year, and 94.4% from 1 to 3 years old, respectively. The corresponding specificity of CPDS was 44.1, 26.7, and 35.7%. There was no significant correlation between CPDS levels and DMSA positive results. The abnormal rate of intermediate part in the kidneys was significantly lower than that in the upper and lower poles. Children with abnormal CPDS have a greater risk of renal scarring(p < 0.05). Conclusion Abnormalities detected by CPDS in a cohort of infants with APN poorly correlated with DMSA findings. But the sensitivity of CPDS is highly age-related, it can be used as a non-invasive helpful tool for early diagnosis of acute pyelonephritis in infants older than 6 months old.

Oxygen production by an ammonia-oxidizing archaeon

Ammonia-oxidizing archaea (AOA) are one of the most abundant groups of microbes in the world's oceans and are key players in the nitrogen cycle. Their energy metabolism, the oxidation of ammonia to nitrite, requires oxygen. Nevertheless, AOA are abundant in environments where oxygen is undetectable. In incubation experiments, where oxygen concentrations were resolved to the nanomolar range, we show that Nitrosopumilus maritimus produces oxygen (O2) and dinitrogen (N2). The pathway is not completely resolved, but it has nitric oxide as a key intermediate. Part of the oxygen produced is directly used for ammonia oxidation, while some accumulates in the surrounding environment. N. maritimus joins a small handful of organisms known to produce oxygen in the dark, and based on this ability, we re-evaluate their role in oxygen-depleted marine environments.

New strategy of color and power doppler sonography combined with DMSA in the assessment of acute pyelonephritis in infants

Background: The purpose of this study was to evaluate the clinical value of color and power doppler sonography (CPDS) when combined it with 99mTc-dimercaptosuccinic acid scintigraphy (DMSA) in assessment of acute pyelonephritis (APN) in infants. Methods: A total of 79 children with APN admitted to our hospital from June 2016 to Jan 2019 were enrolled, including 52 boys and 27 girls, age range 1 month to 3 years old. All cases followed the diagnostic criteria for acute pyelonephritis and excluded anatomical abnormalities of urinary system. All 79 patients were examined by urinary ultrasonography (US), CPDS, and DMSA within 48 hours of fever and analyzed the clinical value of combining the two methods in the assessment of APN in infants. Results: Among 79 children, urinary ultrasonography revealed 2 cases of renal cortical echo changes, both located in the upper pole of the kidney, 24 cases of kidney enlargement, and 1 case of left kidney shrinkage. 95 kidneys were shown to be diseased with DMSA, while 105 kidneys abnormal by CPDS. The sensitivity of CPDS was 69.4%, and the specificity was 38.1%. In children younger than 6 months, the sensitivity of CPDS was 56.9%, which was 84.2% in childeren between 6 months to 1 year, and 94.4% from 1 to 3 years old, respectively. The corresponding specificity of CPDS was 44.1%, 26.7%, and 35.7%. There was no significant correlation between CPDS levels and DMSA positive results. The abnormal rate of intermediate part in the kidneys was significantly lower than that in the upper and lower poles. Children with abnormal CPDS have a greater risk of renal scarring(p<0.05). Conclusion: The clinical application value of CPDS is not as good as that of DMSA. But the sensitivity of CPDS is highly age-related, it can be used as a non-invasive helpful tool for early diagnosis of acute pyelonephritis in infants older than 6 months old.

A differentiated approach to orthodontic treatment of children with dento-maxillaire anomalies complicated by dentition defects

Summary. Modern protocols on providing orthodontic care of children with anomalies and secondary dento-maxillaire deformities include the use of functional- guiding and mechanically-operated orthodontic equipment based on specific clinical indications. At the same time, the issues of orthodontic treatment of dento-maxillaire anomalies complicated by dentition defects still remain controversial, as the vast majority of functionally-guiding and mechanically-operated orthodontic equipment does not provide simultaneous replacement of dentition defect, whereas methods of pediatric prosthetics are often limited by the use of claspless removable laminar prostheses. Their functional efficiency is low due to insufficient fixation and the need for periodic replacement due to the growth of jaws in accordance with the age and physiological development of a child’s body. The use of traditional fixed bridge prostheses during the period of jaws growth is unacceptable, whereas the manufacture of split bridge prostheses with an intermediate part in the form of sliding elements, movably interconnected, as well as cantilever bridges, is limited by dentition due to the removal of only one tooth. Orthodontic appliances that meet these requirements, should be used to replace dentition defects, combined with dento-maxillaire anomalies in each period of formation of the dento-maxillaire system, which determines the relevance of our research. Goal. To increase the effectiveness of comprehensive treatment of children with dento-maxillaire anomalies, complicated by dentition defects of the frontal area with the use of a prosthetic appliance of our own design. Materials and methods. To achieve this goal, we examined 115 children aged from 5 to 17 years with dentition defects of the frontal area, who applied to the Department of Orthopedic Dentistry and Orthodontics, Kyiv Medical University. Of these, orthodontic treatment was performed in 64 patients with the use of removable and non-removable orthodontic appliances, including a prosthesis appliance of our own design: «Prosthesis appliance for upper jaw expansion » Ukrainian patent for a utility model № 145538 dated 28.12.2020, which is fixed using orthodontic bands and temporary fixation cement on the second temporary molars. The appliance has a plastic base with a screw, with which, if necessary, it is possible to influence the growth of the jaw. It also has artificial teeth in the frontal area, which are connected to the base, and do not inhibit the growth of the frontal segment of the upper jaw. Results. According to the results of the research it is determined that for each period of formation of the dento-maxillaire system with dento-maxillaire anomalies complicated by dentition defects it is reasonable to apply a personalized approach when conducting psycho-emotional preparation for treatment, oral cavity sanation, placing on myogymnastic exercises and appropriate orthodontic treatment combined with pediatric prosthetics. Traditional removable and non-removable orthodontic appliances as well as appliances of our own design were used to treat this group of people. According to the results of the treatment, the use of a fixed orthodontic appliance of our own design in children of young and middle age, which restores the function of biting food, allows to replace the dentition defect and meet the aesthetic requirements of patients, as well as to conduct continuous orthodontic treatment due to impossibility to remove the appliance. Indications for the use of this prosthesis appliance is the absence of 1 to 4 front teeth with the possibility of correcting the transversal size of the jaws. Our proposed prosthesis appliance meets the requirements and is easy for patients to use. Conclusions. Indications for the use of the prosthesis appliance of our own design is the absence of 1 to 4 front teeth with the possibility of correcting of the transversal size of the jaws. The use of a non-removable prosthesis appliance of our own design in children of young and middle age, which restores the function of biting food, allows to replace the dentition defect, meet the aesthetic requirements of patients, and to conduct continuous orthodontic treatment. Key words: dento-maxillaire anomalies, dentition defect, orthodontic treatment, orthodontic appliances, prosthesis appliance.

Rehabilitation the União Bridge by stay-cable system

<p>The collapse of the intermediate part the União Bridge on April 6, 2019 interrupted the operation of the main road system of Belem, the most important metropolitan of the Northern state of Para, Brazil. In order to reduce the socioeconomic impacts to the region, the Secretary of Transport immediately carried out the construction of the 268m stay cable bridge to rehabilitation this transportation system. This solution had the advantage of a single mast in the middle of the collapse span, in a position where there were no bents and foundations of the original construction, accelerating the construction. Besides, the stay-cable structural system also has great kinetic energy dissipation capacity from large impacts, being an addition to the robustness introduced by mast foundations and the redundancy of the stay cables system.</p>

Assistance of Formative Assessment in the Improvement of English Writing Skills at Intermediate Level

The major purpose of the study was to measure the effects of the formative assessment in the improvement of English writing skills at intermediate level. This study used a quantitative research method, descriptive in nature, so the researcher used the survey method for data collection. The study was delimited to Sahiwal division of Punjab province. The population of the study comprised of all 246 male and female colleges and higher secondary schools of Sahiwal division which are affiliated with BISE Sahiwal. Sample of this study consists of intermediate part II (328) students. A 30 items questionnaire was developed, administered and managed. Data analysis was performed by using descriptive statistics. The result shows that formative assessment assists in English writing skills, and the students face difficulties in improving English writing skills. Special lectures and trainings may be managed for English writing skills and give a specific focus on writing skills during formative assessment.

U–Pb detrital zircon ages from Gorgoglione Flysch sandstones in Southern Apennines (Italy) as provenance indicators

Twenty-one sandstone samples belonging to the intermediate part of Gorgoglione Flysch (GF) dated Middle-Miocene, cropping out in the Southern Apennines (Italy), have been studied to highlight the detritus provenance. Petrographic and chemical composition indicates that the successions consist of feldspatho-quartzose and litho-feldspatho-quartzose arenites interbedded with pelitic and calciclastic layers and reveals a provenance from a basement formed by low- to medium-grade metamorphic rocks with abundant granitoids covered by sedimentary rocks in which a volcanic component was also present. In the Mediterranean area, basements with these characteristics are widespread both in western and southwestern domains. The supply provenance of Gorgoglione Flysch has been better detailed utilizing U–Pb detrital zircon ages recording the geological history of the source rocks. Fifty-eight crystals from six samples of coarse- and fine-grained sandstones have been analysed using the U–Pb isotopic systematic (LA-ICP-MS). They produce 70 concordant zircon ages forming three defined clusters at 672 ± 28 Ma, 458 ± 9 Ma and 297 ± 8 Ma, and four zircon ages corresponding to 24 ± 1 Ma. An evaluation of the entire collected data suggests that the provenance area is better identified in northwestern sectors of the Mediterranean area in which the Sardinia–Corsica (pro-part) block plays a fundamental role.

Morphological types of spermatheca in Coreidae: bearing on intra-familial classification and tribal-groupings (Hemiptera: Heteroptera)

The morphology of the spermatheca is described in 109 species of 86 genera representing all four currently recognised subfamilies of Coreidae, covering the undivided Hydarinae, both tribes of Pseudophloeinae, all three tribes of Meropachyinae and 27 of the 32 tribes of Coreinae. Three types of spermatheca are recognised. Type I is bipartite, consisting only of a simple tube differentiated into distal seminal receptacle and proximal spermathecal duct and lacks the intermediate part present in most Pentatomomorpha, in which it serves as muscular pump. Type II is also bipartite but more elaborate in form with the receptacle generally distinctly wider than the duct. Type III is tripartite, with receptacle, duct and an often complex intermediate part. Four subtypes are recognised within type III. Type I is found only in Hydarinae and type II only in Pseudophloeinae. Type III is found in both Coreinae and Meropachyinae. Subtype IIIA (“Coreus-group”) unites many tribes from the Eastern Hemisphere and only one (Spartocerini) from the Western Hemisphere. Subtypes IIIB (“Nematopus-group”) and IIID (“Anisoscelis-group”) are confined to taxa from the Western Hemisphere and subtype IIIC (“Chariesterus-group”) is found in tribes from both hemispheres. The polarity of several characters of the intermediate part and some of the spermathecal duct is evaluated, suggesting autapomorphies or apomorphies potentially relevant to the classification of Coreidae at the sufamilial and tribal levels. Characters of the intermediate part strongly indicate that the separation of Meropachyinae and Coreinae as currently constituted cannot be substantiated. The tribes Anisoscelini, Colpurini, Daladerini and Hyselonotini are heterogeneous, each exhibiting two subtypes of spermatheca, and probably polyphyletic. Two tribes, Cloresmini and Colpurini, requiring further investigation remain unplaced. This study demonstrates the great importance of characters of the spermatheca, in particular its intermediate part, for research into the phylogeny and taxonomy of Pentatomomorpha.