In exploring the intricacies of financial analysis, this study delves into the efficacy of traditional financial ratios versus cash flow ratios in foreseeing a company's fiscal well-being. By harnessing the PRISMA 2020 framework, an exhaustive and systematic dissection of diverse scholarly articles was embarked upon. The quest was to unearth the more reliable predictor of financial stability among these two sets of ratios. With a methodical examination of academic writings, this inquiry juxtaposed various models, scrutinizing their foresight capabilities. The revelations were telling; cash flow ratios emerged as more potent forecasters compared to their traditional counterparts. Intriguingly, models that blend both ratio types showed a marked improvement in predictive accuracy, hinting at a synergistic effect. This underscores the insight that while traditional ratios are informative, their amalgamation with cash flow ratios yields a richer, more rounded grasp of a company’s fiscal state. Conclusively, for stakeholders, especially investors, adopting this dual-ratio approach is pivotal for enlightened decision-making. This research enriches the financial analysis domain by spotlighting the salience of cash flow ratios, advocating for their integration with conventional methods for a sharper financial health appraisal.

A robust bank industry is a major player in the stability of an economy. The operational efficiency and stability of banks are therefore paramount. By way of financial ratios and Z-score, this study analysed UT Bank’s financial performance prior to the 2017 bank sector reforms in Ghana. Annual financials over a ten year period (2007-2016) were used. Debt management practices of UT Bank per the results obtained were quite on the hind side and unimpressive. This was reflected in the poor leverage and risk management variables. UT Bank would have been unable to meet creditors’ claims considering the mean average values of debt-to-assets and debt-to equity ratios of 0.76 and 0.90 respectively. The entire bank sector will benefit if credit management practices of individual banks are refreshed and worked on. The bank industry regulator should tighten its supervisory and monitoring role over banks to help detect early signs of non-performing banks. The study further recommends that statutory lending limits of banks be re-enforced to uphold the threshold of 10 percent for unsecured loans and 25 percentage for secured loans of net owned funds of the bank.

Ulcerative colitis (UC) is a chronic inflammatory disease, the incidence of which is increasing worldwide. However, the etiology and pathogenesis of UC remains unclear. The n-butanol extract of pulsatilla decoction (BEPD) of the traditional Chinese medicine herbal formula has been shown to be effective in treating UC. We aimed to explore the molecular mechanism underlying the effects of BEPD on UC, in particular its effects on neutrophil extracellular trap (NET) formation by neutrophils. High-performance liquid chromatography was used to determine the principal compounds of BEPD. UC was induced in mice using dextran sodium sulfate, and mice were treated with 20, 40, or 80 mg/kg BEPD daily for seven days. Colonic inflammation was determined by assessing the disease activity index, histopathology, colonic mucosal damage index, colonic mucosal permeability, and pro- and anti-inflammatory cytokine levels. The infiltration and activation status of neutrophils in the colon were determined by analyzing the levels of chemokine (C-X-C motif) ligand (CXCL)1 and CXCL2, reactive oxygen species, Ly6G, and numerous NET proteins. Our results showed that BEPD improved the disease activity index, histopathology, and colonic mucosal damage index scores of mice with UC, and restored colonic mucosal permeability compared with untreated mice. The expression levels of the pro-inflammatory cytokines interleukin-1β, interleukin-6, and tumor necrosis factor-α in colon tissues were significantly decreased, while the expression levels of anti-inflammatory cytokines in colon tissues were significantly increased, exceeding those of control mice. In addition, BEPD reduce the expression of the neutrophil chemokines CXCL1 and CXCL2 in the colon tissue of mice with UC, reduced neutrophil infiltration, reduced reactive oxygen species levels, and significantly reduced the expression of NET proteins. BEPD also significantly reduced NET formation. The results of this study suggest that BEPD exerts therapeutic effects in a murine model of UC by inhibiting neutrophil infiltration and activation in the colon, as well as by inhibiting the expression of key proteins involved in NET formation and reducing NET formation, thereby alleviating local tissue damage and disease manifestations.

Cortex Periplocae, as a traditional Chinese herbal medicine, has been widely used for autoimmune diseases, especially rheumatoid arthritis. Due to its potential pharmaceutical values, more studies about the biological activities of Cortex Periplocae have been conducted recently. Meanwhile, the adverse reaction of Cortex Periplocae is not a negligible problem in clinic. In this article, we reviewed a series of articles and summarized the recent studies of Cortex Periplocae in the areas of phytochemistry and pharmacology. More than 100 constituents have been isolated and identified from Cortex Periplocae, including steroids, cardiac glycosides, terpenoids, and fatty acid compounds. The crude extracts of Cortex Periplocae and its active compounds exhibit various biological activities, such as cardiotonic effect, anticancer action, and anti-inflammatory effect. This paper aims to provide an overall review on the bioactive ingredients, pharmacological effect, and toxicity of this plant. Furthermore, this review suggests investigating and developing new clinical usages according to the above pharmacological effects.

Managing a portfolio whose value closely tracks an index by trading only in a subset of the index constituents involves an NP-hard optimisation problem. In the prior literature, it has been suggested to solve this problem using sequential Monte Carlo (SMC, a.k.a. particle filter) methods. However, this literature does not take transaction costs into account, although transaction costs are the primary motivation for attempting to replicate the index by trading in a subset, rather than the full set of index constituents. This paper extends the SMC approach to index tracking to allow for proportional transaction costs and implements this extended method on empirical data for a variety stock indices. In addition to providing a more practically useful tracking strategy by allowing for transaction costs, we find that including a penalty for transaction costs in the optimisation objective can actually lead to better tracking performance.

The changing of banking customer preferences after Covid-19 pandemic encourages banking transformation. Neobanks emerges as innovation in banking that enter the market to compete with the incumbent banks by offering new digital experience for customer. This paper analyzes the neobanks which transformed from traditional bank, specifically its efficiency after they implement digital transformation. Efficiency is measured by using Stochastic Frontier Analysis (SFA). This study also uses Pooled Mean Group (PMG) of Panel ARDL (Autoregressive Distributed Lagged) to investigate digital transformation as one of determinants neobank’s efficiency, as well as to examine the existence of short-term and long-term relationship between digital transformation and efficiency. The SFA results show that the efficiency of the neobanks increase after they carry out digital transformation. Furthermore, from PMG Panel ARDL, it can be concluded that digital transformation is one of determinant of efficiency and there is longevity relationship between digital transformation and efficiency. In the short run, digital transformation has a significant and negative correlation with efficiency and in the long run, it has a significant positive relationship because initially digital transformation cost for operational and risk management innovation decreases the profit efficiency, but afterwards it increases the profit efficiency.

Some aporphine alkaloids, such as crebanine, were found to present arrhythmic activity and also higher toxicity. A series of derivatives were synthesized by using three kinds of aporphine alkaloids (crebanine, isocorydine, and stephanine) as lead compounds. Chemical methods, including ring-opening reaction, bromination, methylation, acetylation, quaternization, and dehydrogenation, were adopted. Nineteen target derivatives were evaluated for their antiarrhythmic potential in the mouse model of ventricular fibrillation (VF), induced by CHCl₃, and five of the derivatives were investigated further in the rat model of arrhythmia, induced by BaCl₂. Meanwhile, preliminary structure-activity/toxicity relationship analyses were carried out. Significantly, N-acetamidesecocrebanine (1d), three bromo-substituted products of crebanine (2a, 2b, 2c), N-methylcrebanine (2d), and dehydrostephanine (4a) displayedantiarrhythmic effects in the CHCl₃-induced model. Among them, 7.5 mg/kg of 2b was able to significantly reduce the incidence of VF induced by CHCl₃ (p<0.05), increase the number of rats that resumed sinus rhythm from arrhythmia, induced by BaCl₂ (p<0.01), and the number of rats that maintained sinus rhythm for more than 20 minutes (p<0.01). Therefore, 2b showed remarkably higher antiarrhythmic activity and a lower toxicity (LD₅₀=59.62 mg/kg, mice), simultaneously, indicating that 2b could be considered as a promising candidate in the treatment of arrhythmia. Structural-activity analysis suggested that variationsin antiarrhythmic efficacy and toxicity of aporphines were related to the C-1,C-2-methylenedioxy group on ring A, restricted ring B structural conformation, N-quaternization of ring B, levoduction of 6a in ring C, and the 8-, 9-, 10-methoxy groups on ring D on the skeleton.

The rapid advancement of artificial intelligence (AI) and robotics has led to significant progress in various medical fields, including interventional radiology (IR). This review focuses on the research progress and applications of AI and robotics in IR, including deep learning (DL), machine learning (ML), and convolutional neural networks (CNNs) across specialties such as oncology, neurology, and cardiology. To ensure the breadth and depth of this review, we implemented a systematic literature search strategy, selecting research published within the last five years. We conducted searches in databases such as PubMed and Google Scholar to find relevant literature. Special emphasis was placed on selecting large-scale studies to ensure comprehensiveness and reliability of the results. We discuss the role of AI techniques used before, during, and after intervention treatments and the advantages of robotics in achieving precise operations and reducing intra-operative risks. Challenges faced in the implementation of these techniques are also addressed. Finally, we explore the future trends and potential applications of AI and robotics in interventional therapy, highlighting their potential to improve patient treatment outcomes and quality of life.

The Solvency II regulatory framework specifies procedures and parameters for determining solvency capital requirements (SCRs) for insurance companies. The proposed standard SCR calculations involve two steps. The Value–at–Risk (VaR) of each risk driver is measured and, in a second step, all components are aggregated to the company’s overall SCR, using the Standard Formula. This formula has two inputs: the VaRs of the individual risk drivers and their correlations. The appropriate calibration of these input parameters has been the purpose of various Quantitative Impact Studies that have been conducted during recent years. This paper demonstrates that the parameter calibration for the equity–risk module—overall, with about 25%, the most significant risk component—is seriously flawed, giving rise to spurious and highly erratic parameter values. As a consequence, an implementation of the Standard Formula with the currently proposed calibration settings for equity–risk is likely to produce inaccurate, biased and, over time, highly erratic capital requirements.

Recent interest in preventing the development of osteoporosis has focused on the regulation of redox homeostasis. However, the action of lycopene (LYC), a strong natural antioxidant com-pound, on osteoporotic bone loss remains largely unknown. Here, we show that the administra-tion of LYC to OVX rats reduces body weight gain, improves lipid metabolism and preserves bone quality. In addition, LYC treatment inhibits ROS overgeneration in serum and bone marrow in OVX rats, and in BMSCs upon H2O2 stimulation, leading to inhibiting adipogenesis and pro-moting osteogenesis during bone remodeling. Mechanically, LYC may improve bone quality via an increase in the expressions of FoxO1 and Runx2, and a decrease in the expressions of PPARγ and C/EBPα in OVX rats and BMSCs. Collectively, these findings suggest that LYC attenuates osteoporotic bone loss through promoting osteogenesis and inhibiting adipogenesis via regula-tion of the FoxO1/PPARγ pathway driven by oxidative stress, presenting a novel strategy for os-teoporosis management.

This study uses machine learning to identify key factors influencing the cost-effectiveness of over-the-counter (OTC) medications. By developing a novel cost-effectiveness rating (CER) from user ratings and prices, we analyzed data from Amazon. The findings indicate that FSA/HSA eligibility, symptom treatment range, safety warnings, special effects, active ingredients, and packaging size significantly impact cost-effectiveness across cold, allergy, digestion, and pain relief medications. Medications eligible for FSA or HSA funds, treating a broader range of symptoms, and having smaller packaging are perceived as more cost-effective. Cold medicines with safety warnings were found to be cost-effective due to their lower average price and effective ingredients like phenylephrine and acetaminophen. Allergy medications with kid-friendly features showed higher cost-effectiveness, and ingredients like calcium, famotidine, and magnesium boosted the cost-effectiveness of digestion medicines. These insights help consumers make informed purchasing decisions and assist manufacturers and retailers in enhancing product competitiveness. Overall, this research supports better decision-making in the pharmaceutical industry by highlighting factors that drive cost-effective medication purchases.

Molecularly imprinted polymers (MIPs) were synthesized and applied for the selective extraction of oblongifolin C (OC) from fruit extracts of Garcinia yunnanensis Hu. A series of experiments and computational approaches were employed to improve the efficiency of screening for optimal MIP systems in the study. The molar ratio (1:4) was chosen at last based on the comparison of the binding energy of the complexes between the template (OC) and functional monomers using density functional theory (DFT) at the RI-PBE-D3-gCP/def2-TZVP level of theory. The binding characterization and the molecular recognition mechanism of MIPs were further explained using the molecular modeling method and NMR and IR spectra data. The reusability of this approach was demonstrated in over 20 batch rebinding experiments. 140.5 mg of OC (>95% purity) was obtained from the 5 g extracts with 2 g of MIPs with the best binding properties through gradient elution program from 35% to 70% methanol-water solution. At the same time, another structural analog, 46.5 mg of guttiferone K (GK) (>88% purity), was also obtained by the gradient elution procedure. Our results showed that the structural analogs could be separated from the crude extracts by the molecularly imprinted solid-phase extraction (MISPE) using a gradient elution procedure for the first time.

Background: in this paper, a new physical penetration technology for transdermal administration with traditional Chinese medicine (TCM) characteristics - Fu’s cupping therapy (FCT) - was established and studied by in-vitro and in-vivo experiments; the penetration effect and mechanism of FCT physical penetration technology (FCT-PPT) was preliminarily discussed. Method: Indomethacin (IM) as a model drug，by transdermal in vitro tests the establishment of the high，medium and low reference were finished as the chemical permeation system；chemical penetration enhancers and iontophoresis as a reference，the percutaneous penetration effect of FCT for IM patch was evaluated with 7 species diffusion kinetics model and in vitro drug distribution；naproxen as an internal standard，using UPLC-MS/MS technology，the IM quantitative analysis method in vivo was established，and pharmacokinetic parameters (AUC0-t，AUC0-∞，AUMC0-t，AUMC0-∞, Cmax and MRT) as indicators were used evaluate to FCT penetration role in vivo；in the same time，the group used 3K factorial design to study joint synergistic penetration effect on FCT and chemical penetration enhancers (CPEs)；by SEM and TEM，the skin micro and ultrastructural changes of the stratum corneum (SC) surface were observed, to explore pay tank penetration mechanism. Results: In vitro and in-vivo skin permeation experiments revealed that both the total cumulative percutaneous amount and in-vivo percutaneous absorption amount (AUC and AUMC) of indomethacin that permeated SD mouse skin using FCT techniques were greater than the amount observed using CPE and iontophoresis: Firstly, in contrast to the control group, the indomethacin percutaneous rate (PR) of the FCT lower group (FCTL) was 35.52%, and the enhancement ratio (ER) at 9h was 1.76X, which was roughly equivalent to the penetration enhancing effect of the CPEs and iontophoresis; secondly, the indomethacin PR of the FCT middle (FCTM) group and the FCT high intensity group (FCTH) were respectively 47.36% and 54.58%, ER at 9h were separately 3.58X and 8.39X; thirdly, pharmacokinetic studies showed that in-vivo indomethacin percutaneous absorption of the FCTs was higher than that of the control group, that of the FCTM group was slightly higher than that of the CPEs group, and that of the FCTM group was significantly higher than that of the others. Meanwhile, the variance analysis indicated that the combination of the FCT penetration enhancement method and the CPE method had beneficial effects in penetration enhancing of the skin: the significance level of the CPE method was 0.0004, which was apparently lower than the 0.001, meaning the difference was markedly significant; the significance level of the FCT was under 0.0001, its difference markedly significant; and the significance level of factor interaction A×B was lower than 0.0001, indicating that its difference of the synergism was markedly significant. Moreover, SEM and TEM images showed that the SC surfaces of SD rats treaded with FCT-PPT was damaged, and hard to observe the complete surface structure with its SC pores growing bigger and its special “brick structure” becoming looser, indicating that it broke the barrier function of skin, which revealed potentially a major route of skin penetration. Conclusion: FCT, as percutaneous penetration new technologies, has penetration effects significantly, with Chinese characteristics and highly clinical value, worth promoting development.

This research presents a novel algorithmic implementation to improve the analysis of visually controlled interception and accompanying motor action through the computational application of harmonic ratios and stimulation invariants. Unlike traditional models that focus mainly on psychological aspects, our approach integrates the relevant constructs into a practical mathematical framework. This allows for dynamic prediction of interception points with improved accuracy and real-time perception-action capabilities, essential for applications in neurorehabilitation and virtual reality. Our methodology uses stimulation invariants as key parameters within a mathematical model to quantitatively predict and improve interception outcomes. The results demonstrate the superior performance of our algorithms over conventional methods, confirming their potential for ad-vancing robotic vision systems and adaptive virtual environments. By translating complex theo-ries of visual perception into algorithmic solutions, this study provides innovative ways to im-prove motion perception and interactive systems. This study aims to articulate the complex inter-play of geometry, perception, and technology in understanding and utilizing cross-ratios at infin-ity, emphasizing their practical applications in virtual and augmented reality settings.

A study analyzed financial statements in the beer sectors of Italy and Spain during 2019-2021 using compositional data analysis (CoDa) to gauge pre- and post-pandemic financial health and aid sector-level decision-making. Geometric averages were employed to mitigate statistical issues, offering more accurate insights than arithmetic averages. The exploratory, quantitative methodology calculated key financial ratios and profitability metrics. Results indicated satisfactory short-term solvency. Returns and margins remained subpar despite pandemic policies. Geometric averages proved essential in portraying sector health accurately, underscoring the need for their use in classic brewing sector ratios. The study also showcased CoDa's efficacy in diagnosing sectoral financial health for informed decision-making. Furthermore, a web analysis revealed varying transparency levels in communicating non-financial indicators, with Spain excelling in waste, water, and energy disclosures, while Italy prioritized energy and waste with less transparency.

The integration of deep learning models into financial risk prediction and analysis has significantly transformed traditional approaches. While conventional quantitative methods often rely on simplistic metrics like maximum drawdown, the advent of deep learning necessitates a more nuanced evaluation, emphasizing the model's generalization ability, especially during market crises such as stock market crashes. This paper explores the critical aspects of evaluating deep learning models' risk control capabilities in finance, underscoring the importance of understanding both statistical metrics and generalization abilities, particularly in adverse market conditions. By examining deep learning models' performance in scenarios like stock market crashes and highlighting the significance of cross-validation techniques, this study aims to offer practitioners insights into constructing robust risk management systems. It advocates for a comprehensive approach integrating quantitative analysis with macroeconomic factors to enhance financial risk prediction and analysis in volatile markets. The experimentation reveals that different deep generative models excel in various aspects of financial time series analysis, with generative adversarial networks (GANs) demonstrating superior performance in predicting Value at Risk (VaR) and variational autoencoders (VAEs) excelling in return rate prediction. Moreover, integrating multiple models further enhances predictive performance, leveraging the strengths of each model to compensate for individual weaknesses. Overall, this paper underscores the potential and significance of deep generative models in financial time series analysis, offering a roadmap for improved risk management and decision-making in financial markets.

This paper draws upon the theory of turbulence in physics to explore the similarities and differences between volatility in financial markets and turbulent phenomena at a statistical physics level. By analogizing the dynamics of financial markets with fluid turbulence, we have developed an innovative analytical framework aimed at deepening the understanding of the complexity inherent in financial markets. Our research methodology includes a comparative analysis of simulated time series data for the Standard & Poor's 500 Index and fully developed turbulent velocity time series. We focus on the similarities in key statistical physical properties, including probability distributions, correlation structures, and power spectral densities. Furthermore, we have established a model of capital flow in financial markets and proposed corresponding solutions. Through computational simulations and data analysis, we find that while financial market volatility shares some statistical characteristics with turbulent phenomena, significant differences exist in the shapes of probability distributions and the temporal scales of correlations. This suggests that although financial markets exhibit patterns akin to turbulence, the behavior of this complex, multi-variable driven system does not completely correspond to natural turbulence, highlighting the limitations of directly applying turbulence theory to financial market analysis. Our study offers a new perspective for the theories of financial markets and the field of econophysics, providing fresh insights into the complexity of financial markets and contributing to the prevention and management of financial risk.

Due to the extraordinary mechanical properties of ultra-high-performance concrete (UHPC), the shear stirrups in UHPC beams could potentially be removed. The aim of this study is to determine the effect of beam height and steel fiber volume content on the shear behavior of non-stirrup UHPC beams under a larger shear span-depth ratio (up to 2.8). Eight beams were designed and fabricated, including six non-stirrup UHPC beams and two comparing stirrup-reinforced normal concrete (NC) beams. The experimental results demonstrated that the volume content of steel fiber could be a crucial factor affecting the ductility, cracking strength, and shear strength of non-stirrup UHPC beams and altering their failure modes. Additionally, the height of the beam had a considerable effect on its shear resistance. This study revealed that the French standard formulae were more accurate for the UHPC beams with larger shear span-depth ratios and PCI-2021 formulae greatly overestimate the shear capacity of UHPC beams with larger shear span-depth ratios. Xu’s formulae were more accurate for the steel fiber-reinforced UHPC beams with larger shear span-depth ratios.

In this study, we analyzed the microbial community of traditional fermented foods in Jeju Island to identify the distribution of useful microorganisms and confirm their anti-inflammatory and anti-melanogenic effects to determine their potential use as cosmetic ingredients. Firstly, we examined the microbial communities of Omphalius rusticus Jeotgal (OR), Spratelloides gracilis Jeotgal (SG), Chromis notata Jeotgal (CN), Turbo cornutus Jeotgal (TC), Trichiurus lepturus intestine Jeotgal (TL), Branchiostegus japonicus Sweet Rice Punch (BJ), Salted Anchovy Sauce (SA), Jeju Soy Sauce (JSS), and Jeju Soybean Paste (JSP). We found that Latilactobacillus sakei (87.2%), Tetragenococcus halophilus (37.7%), T. halophilus (96.8%), Bacillus subtilis (23.4%), T. halophilus (71.3%), L. sakei (53.7%), Lentibacillus sp. (42.9%), Enterococcus durans (14.6%), and E. durans (32.8%) were the dominant species. Secondly, to study the nine Jeju fermented foods’ anti-inflammatory and anti-melanogenic effects, we employed RAW 264.7 and B16F10 cells, classic cell models for inflammation and melanogenesis studies. Ethyl acetate extracts of the nine Jeju fermented foods all inhibited nitric oxide (NO) and melanin production in a concentration-dependent manner. Thirdly, to test the applicability of the nine Jeju fermented foods to human skin, we used the MTT assay to assess their cytotoxic effects on human keratinocytes (HaCaT cells). Finally, the topical applicability of the nine Jeju fermented foods was tested through primary skin irritation, and it was found that they did not cause any adverse effects. Therefore, extracts from the nine Jeju fermented foods have potential applications as ingredients in anti-inflammatory and anti-melanogenic products and can be used in the cosmetic industry.

In recent years, the rapid development of computer-aided planning and design technology has provided a new perspective for the study of complex problems such as the generation of architectural complex forms. This study focuses on how to apply parameterization technology to analyze and articulate traditional spatial form composition rules, aiming to minimize reliance on subjective human judgment in the protection and renewal design of the historical style of traditional villages. It aims to establish digital generative design tools to address the challenges of accurately inheriting and innovatively utilizing historical and cultural information in traditional settlements. It introduces how to rely on parameterization technology to analyze the spatial form composition rules, parameter extraction rules, and spatial reconstruction rules of traditional villages, facilitating the complete process from spatial features to parameterization rules, and then to the application of computational methods to deduce spatial features. It also includes case studies demonstrating the application of parameterization technology tools for village protection and explores the role of generative design tools in preserving the spatial style of these settlements.

This paper aims to assess whether the financial performance of Portuguese companies that publish sustainability reports (SR) differs from the financial performance of companies that do not publish SR. We use two methodological procedures. First, we conducted a univariate analysis to test the differences in the financial performance according to the disclosure of SR. Second, we conducted a multivariate analysis using a multiple linear regression that explains financial performance by the disclosure of SR, as well as control variables such as sector, size, leverage, growth, and liquidity. Findings indicate that financial performance of companies that disclose SR does not significantly differ from the financial performance of companies that do not disclose SR. The results are robust to both methodological procedures, as well as to the sample split by sectors.

With the digital transformation of the logistics industry, smart logistics algorithms have become a core technology to improve efficiency and reduce costs. This paper reviews the development history of traditional logistics technology and discusses the key role of technologies such as the Internet of Things, big data analysis, artificial intelligence, and automation in logistics technology innovation. It focuses on the application of intelligent logistics algorithms in path optimization, intelligent scheduling, data mining and prediction, and intelligent warehousing. To solve the problem of inconsistency between training and testing objectives, this paper proposes DRL4Route, a deep reinforcement learning-based path optimization framework, and designs the DRL4Route-GAE model. Validated through extensive offline experiments and online deployments, the model significantly outperforms existing optimal benchmark methods on real datasets, improving the location deviation squared metrics and the top-three location prediction accuracy metrics. These research results provide important support to further promote the intelligent development of the logistics industry.

In today's highly digitized and globalized financial environment, the need to protect payment systems from risk is more urgent than ever. Artificial intelligence (AI) technology is rapidly becoming a key tool in this space, with machine learning algorithms, big data analytics, and real-time monitoring enabling AI to effectively detect and prevent fraudulent activity, optimize risk management processes, and deliver intelligent services. AI not only improves the security and efficiency of payment systems, but also significantly improves customer satisfaction and loyalty. With the continuous development of AI technology and financial payment technology, the financial payment industry will usher in more innovations and changes in the future, further optimizing the payment process, improving payment efficiency, and ensuring payment security.

This article delves into the complex landscape of Bitcoin halving events, analyzing the historical context and implications of these pivotal occurrences within the cryptocurrency ecosystem and on its sustainability within the landscape of financial technologies. Through an examination of past halving events in 2012, 2016, and 2020, this study meticulously scrutinizes the conditions and prices of Bitcoin before and after each halving. By synthesizing data and trends from previous events, this article aims to uncover patterns and insights that illuminate the impact of Bitcoin halving on market dynamics and sustainability, movement of the price level, reached peaks and price troughs. Furthermore, this research presents a comparative analysis of past halving events, drawing parallels and distinctions to elucidate the evolving nature of Bitcoin's price movements and market sentiment surrounding these milestone events. Looking towards the future, this study estimates predictions and expectations for the upcoming Bitcoin halving. By unraveling the intricate relationship between Bitcoin halving events and market behavior, this article seeks to provide a comprehensive understanding of the broader implications for Bitcoin's trajectory and the evolving landscape of the cryptocurrency market and its sustainability.

We extend the concept of metallic ratios to the real argument n considered as a dimension by analytic continuation showing that they are defined by an argument of a normalized complex number, and for rational n ≠ {0, ±2}, they are defined by Pythagorean triples. We further extend the concept of metallic ratios to metallic angles.

The Folla Redonda grape is indigenous to the region of Rias Bajas in Galicia, Spain. This grape is distinguished by its characteristic acid flavor and pulp of remarkable coloration. Despite the wine obtained from this grape is highly valued by consumers of this region for its surprising acidic notes and thickness, it is important to note that it is not a variety of Vitis vinifera and its production is not legally regulated. In the present study, an evaluation of the physicochemical properties of the Folla Redonda grape (pH, °Brix, °Bé, density, acidity, sugar content, etc.) as well as its content in bioactive compounds (total polyphenols and anthocyanins) was carried out. Additionally, the antioxidant potential of the extracts obtained from this grape was demonstrated. This study proved the interesting organoleptic characteristics of the grape, along with a high content of compounds of interest and an important antioxidant activity comparable to that of Vitis vinifera grapes. Therefore, the grape's natural consumption and its application in different industries such as nutraceutical or pharmacological would result in an important revaluation of the grape and significant health benefits. In case that the production of wine from this variety is legalized, consumers will not only be able to enjoy a wine with a characteristic dense reddish color and important acid tones, but also with interesting concentrations of bioactive compounds.

Establishing systemic communications between the project plan, stakeholders, and the organization through integrated management meets stakeholders' demands and managerial expectations in project-oriented organizations. Performance assessment can be defined as a control system in any company that reviews its daily operations and evaluates how well it has achieved its goals. This study aims to investigate the impact of an integrated project management system on the financial performance of the Organization for Renovation, Development, and Equipment of Schools. This applied research is descriptive-analytical. The statistical population comprises 2,700 employees of the organization, with a sample size of 340 individuals examined. The reliability of the designed questionnaire was confirmed by experts in the organization using Cronbach's alpha (α=0.91). Data were analyzed using SPSS version 20 and AMOS 18 software through descriptive statistics and confirmatory factor analysis. The results indicate that the seven dimensions of the integrated project management system (cost management, quality management and continuous control, change management, systems and information management, human resources management, interaction and communication management, procurement management) have a positive and significant impact on the financial performance of the Organization for Renovation, Development, and Equipment of Schools.

Accurate measurement of systemic financial risk is critical to maintaining the stability of financial markets. Taking China as the subject of investigation, the Chinese Financial Stress Index (CFSI) indicator system was con-structed by integrating six dimensions and employing Gray Relation Analysis (GRA) for dimensionality reduction of the indicators. The CFSI was derived using the Attribute Hierarchy Model (AHM) method with the Criteria Importance Through the Intercriteria Correlation (CRITIC) method, and an Improved Gravitational Search Algorithm (IGSA) optimized Radial Basis Function Neural Network (RBFNN) was proposed for out-of-sample prediction of CFSI trends from 2024 to 2026. By analyzing the trend of financial pressure indicators, the relationship between financial pressure and economic activity can be effectively identified. The research findings indicate that: (1) The CFSI is capable of accurately reflecting the current financial stress situation in China; (2) The IGSA-RBFNN demonstrates good robustness and generalization capabilities, predicting that the CFSI index will reach a peak value of 0.543 by the end of 2024, and there exists a regular pattern of stress rebound towards the end of each year. The novel methodology benefits policymakers and regulatory authorities to formulate preventive measures and risk management by identifying potential risks and vulnerabilities in advance.

This paper utilizes the 2020 financial data of A-share listed companies, both ST and non-ST, as the data sample. The model is constructed employing the Factor-Logistic fusion algorithm. Eight key indicator factors were selected from the frameworks of profitability, solvency, operating capacity, development potential, shareholder retained earnings, cash flow and asset growth. An independent indicator system was subsequently established to address the issue of collinearity among risk indicators. The results of model are presented in the form of probabilities, enhancing the interpretability of model. The weights of the features indicate the influence of different features on the final outcome. The model achieves a prediction accuracy of over 89%, with an AUC score exceeding 95%. Finally, by applying the principles of interval estimation theory in statistical hypothesis testing, the risk levels are categorized as A-level representing significant risk, B-level representing moderate risk, C-level representing minor risk and D-level representing no risk. This paper aims to provide a comprehensive definition of a universal financial risk management warning model for enterprises, applicable to all enterprises in China.

This study investigates the transformative impact of ChatGPT, a cutting-edge AI language model developed by OpenAI, on the financial sector. We explore ChatGPT's applications in financial analysis, focusing on its ability to perform tasks traditionally handled by human analysts. By creating a set of multi-step and advanced reasoning financial tasks, and establishing several task-specific evaluation metrics, our experimental results demonstrate that ChatGPT-4o can effectively perform both basic and some complex financial analysis tasks comparable to those executed by humans. However, our empirical evaluation reveals limitations in its performance on complex tasks that require comprehensive understanding and critical thinking. The study highlights the necessity for meticulous task formulation and robust evaluation to achieve consistent functionality. While ChatGPT enhances efficiency in financial analysis, its integration with human expertise remains crucial for effective decision-making. This study contributes to the understanding of AI's role in finance and provides insights into its potential and constraints, guiding future integration of AI technologies in financial practices.

This paper performs a comprehensive analysis of the wind energy potential of onshore regions in Greece with emphasis on quantifying the volume risk and the spatial covariance structure. Optimization techniques are employed to derive efficient wind capacity allocation plans (also known as generation portfolios) incorporating different yield aspirations. The generation profile of minimum variance and other optimal portfolios along the efficient frontier are subject to rigorous evaluation using a fusion of descriptive and statistical methods. In particular, principal component analysis is employed to estimate factor models and investigate the spatiotemporal properties of wind power generation, providing valuable insights into the persistence of volume risk. The overarching goal of the study is to employ a set of statistical and mathematical programming tools guiding investors, aggregators and policy makers in their selection of wind energy generating assets. The findings of this research challenge the effectiveness of current policies and industry practices, offering a new perspective on wind energy harvesting with a focus on the management of volume risk.

The thesis proposes a argument that a mass point moving in a horizontal circle on the Earth's surface can generate a radial centrifugal force of the Earth's center of mass, thus realizing an unconventional anti-gravity path. And through the theoretical analysis of the difference in the distribution of gravitational acceleration at different latitudes caused by the rotation of the earth, and the centrifugal force of a mass point moving in a horizontal circle on the earth's surface is analyzed, the validity of the argument is demonstrated. At the same time, the paper puts forward two possible basic principles, and makes theoretical analysis and demonstration. Conceive of the concrete experimental verification of principle two is proposed. Four technical schemes for antigravity ascent are proposed and basic analysis is made. On the premise of not fully considering the practical technical ability, it is theoretically proved that three of them have realistic operability and development potential. In theory, this paper opens up a different way of anti-gravity for human beings, which will bring new ideas and prospects for human beings to get rid of the bondage of gravity.

Gelatinization of starch content in pet foods can be impacted by several factors including moisture, retention time, and ingredients used. Starch gelatinization has been associated with digestibility but isn’t well studied using ingredients common in non-traditional canine diets. The objective of this research was to examine the impacts of dietary ingredient profile (traditional vs non-traditional) and assess impacts to total starch content and starch gelatinization. Traditional diets (n = 10) utilizing meat-based ingredients including chicken, chicken by-product meal, meat and bone meal and plant-based ingredients including rice, barley, oats, and corn were examined in comparison with non-traditional diets (n = 10) utilizing meat-based ingredients including alligator, buffalo, venison, kangaroo, squid, quail, rabbit, rabbit and salmon along with plant-based ingredients including tapioca, peas, chickpeas, lentils, potato, and pumpkin. Representative samples were collected via grab sample technique (5 samples/diet) and were assessed for total starch content as well as percent starch gelatinization. Difference between ingredient type was assessed using a Students t-test in SAS 9.4. Significance was set at P < 0.05. Distribution of total starch content based on ingredient type (traditional vs non-traditional) revealed that mean total starch content was higher in traditional diets as compared to non-traditional diets (P <0.0001). Conversely, starch gelatinization was found to be higher in non-traditional diets (P < 0.0001). Total starch content and total gelatinized starch had a strong negative correlation (P < 0.01) in traditional diets, though no correlation was observed in non-traditional diets. This negative correlation indicates a decrease in total gelatinized starch associated with increased total starch content. These novel data reveal important differences between starch content and gelatinization and could impact manufacturing processes for ingredient types as well as feeding recommendations. Unpredicted variation between ingredient formulations could potentially lead to decreased digestibility and absorption and may result in nutrient deficiencies.

With the fintech industry growing at an unprecedented rate, it is critical to protect cybersecurity and ensure data privacy. The research presented here offers a thorough examination of the challenges faced by financial technology companies, highlighting the growing risks posed by malware, phishing, and network vulnerabilities. As essential components of a proactive defense plan, the report promotes strong cybersecurity measures like frequent security assessments, encryption, and stringent access controls. The findings highlight how important it is for fintech companies to give cybersecurity equal importance with open and honest data privacy policies in order to win over customers. In order to protect the industry from cybersecurity risks regulatory compliance, intrusion detection systems, and collaborative information sharing are considered essential components. The article advises businesses to include cybersecurity and data privacy into their core business operations and customer relations, highlighting the critical role these factors play in sustaining success in the rapidly evolving fintech industry.

The optimization of photovoltaic (PV) systems is vital for enhancing efficiency and economic viability, especially under Partial Shading Conditions (PSCs). This study focuses on the development and comparison of traditional and advanced algorithms, including Perturb and Observe (P&O), Incremental Conductance (IC), Fuzzy Logic Control (FLC), Grey Wolf Optimization (GWO), Particle Swarm Optimization (PSO), and Artificial Neural Networks (ANN), for efficient Maximum Power Point Tracking (MPPT). Simulations conducted in MATLAB/SIMULINK evaluated these algorithms’ performance under various shading scenarios. The results indicate that while traditional methods like P&O and IC are effective under uniform conditions, advanced techniques, particularly ANN-based MPPT, exhibit superior efficiency and faster convergence under PSCs. The study concludes that integrating AI and ML into MPPT algorithms significantly enhances the reliability and efficiency of PV systems, paving the way for broader adoption of solar energy technologies in diverse environmental conditions. These findings contribute to advancing renewable energy technology and support the green energy transition.

Despite ongoing efforts, the relationship between groin strength and injury remains unclear. The challenge of accurately predicting injuries presents an opportunity for researchers to develop pre-vention strategies to reduce the occurrence of such injuries. Consequently, this issue requires further investigation to obtain insights into effective mitigation strategies. In 120 male soccer players the maximum isometric strength of the hip muscle groups was measured, and the strength ratios were calculated. Previous injury and anthropometric data were registered. Injury data were collected following the FIFA/UEFA consensus. The K- Nearest Neighbour (k-NN), was used to predict the incidence of injury, while the significant predictive variables of the k-NN algorithm were fitted into a multivariate logistic regression model (LR) to analyze the likelihood of players sustaining a groin injury. The LR model determined two variables as significant predictors of groin injury. Players were less likely to sustain a groin injury by 76% for each decrease of the Adductors/Abductors isometric strength ratio in the non-dominant limb (OR = 0.238, CI 95%= [(0.098-0.572]). Players with a history of previous injury had a 67% greater risk of sustaining an injury (OR = 0.333, CI 95%= [(0.1068-1.038]). Isometric hip adductor and abductor strength im-balances of the non-dominant lower limb and a history of previous injury were risk factors for groin injury in soccer players.

Bat feces were reported in ancient Chinese medicine books to have the effect of reducing heat and improving eyesight, but the mechanism of vision improvement still needs further research. To this end, we used 2,2-diphenyl-1-picrylhydrazyl (DPPH) and liquid chromatography/tandem mass spectrometry (LC/MS/MS) to analyze the antioxidant capacity of and the types of vitamins in bat feces. We hoped to screen the pharmacological components of bat feces, and to explain the role that these components may play in the treatment of visual deterioration. Our results found that bat feces had a good antioxidant capacity and mainly contain vitamins B1 (thiamine), B2 (riboflavin), B3 (nicotinamide), B3 (nicotinic acid), and B5 (pantothenic acid). Although these vitamins may help maintain the health of the optic nerve and cornea, the vitamin content of bat feces is low, but the heavy metal content is high, as shown using inductively coupled plasma mass spectrometry (ICP-MS) analysis. Therefore, we suggest that the use of bat feces as traditional Chinese medicine to improve vision should be strictly restricted.

The goal is to reduce poverty, the method used is a literature study to see the effect of using Financial Technology (Fintech) on financial inclusion, method to see the effect of financial inclusion on poverty. From the results of the tests, the use of Fintech can increase financial inclusion, thereby encouraging poverty alleviation. It can be seen that the Financial Inclusion variable has a significant and negative effect on the poverty variable. This shows that countries that have high levels of financial inclusion are generally estimated to have low poverty rates. Increasing a country's financial inclusion can reduce poverty.

The impacts of inflation on international finance are generally reflected in the decline of buying power, risks of investment and deposit loss from currency devaluation. For the purpose of optimized allocation and management of asset values, i.e., annual income or research grants, a framework of a three-level model for static financial management is presented to maximize banking interests, bonuses, and the remaining balance after spending necessary expenditures. Meanwhile, in retrospect to higher-level financial inflation, strategies of dynamic investment, i.e., posing regular tests of flipping coins, exploiting variations of the currency exchange rate, as well as applying the theory of broad money, are presented to increase the appreciation rate of net assets in and post the era of COVID-19. Quantitative evaluations in case studies verify the feasibility of improving the financial situation, indicating broader applications for budgeting and investing when US inflation rate is below 3.0%. Besides, combining approaches of static and dynamic strategies, the expected annual growth rate of individual zero-risk asset investment is predicted as within the range of 8.30~9.62% according to budgeted appreciation on net assets in 12 months, which is capable of overcoming negative impacts from higher level annual inflation, i.e., those as highest as 8.01% in the Year 2022.

This paper systematically discusses the application and development of federated learning in data privacy protection and data value sharing. With the rapid development of global information technology, especially the explosive growth of data from Internet of Things devices, data security and privacy protection are facing unprecedented challenges. This paper first analyzes the growth trend of global data volume and its importance to next generation technologies such as artificial intelligence technologies such as deep learning. Second, the paper provides an in-depth look at the impact of current data privacy regulations on data flows and value creation, particularly the EU's GDPR and China's Data Security and Personal Information Protection Law. Then, this paper introduces in detail federated learning, as a new distributed machine learning paradigm, which effectively solves the contradiction between existing data sharing and privacy protection by protecting individual data privacy and realizing global model collaborative construction. Finally, this paper discusses the combination of blockchain technology and federated learning, and proposes BeFL architecture as a new secure, decentralized and trusted federated learning system, which is expected to provide a comprehensive solution for large-scale data processing and value creation in multi-party scenarios. The research in this paper not only deepens the understanding of federation learning in theory, but also provides important reference and enlightenment for future research and application in related fields.

In the past years, consumers have increased their interest to buy healthier food products, rejecting those products with more additives and giving preference to the fresh ones. Moreover, the current environmental situation has made society more aware of the importance of reducing the production of plastic and food waste. In this way and considering the Food Industry need of reducing the food spoilage along the food chain, edible coating has been considered as an eco-friendly food packaging that can replace traditional plastic packaging providing an improvement in the product’s shelf-life. Edible coating are thin layers applied straightaway on the food materials’ surface, that are made of biopolymers that usually incorporate other elements, such as nanoparticles or essential oils, to improve their physicochemical properties. These materials must provide a barrier that can prevent the pass of water vapor and other gasses, the microbial growth, the moisture loss, and the oxidation, so the shelf-life could be extended. The aim of this review was to compile the current data available to give a global vision of the formulation process and the different ways to improve the characteristics of the coats applied in both fruits and vegetables. In this way, the suitability of compounds in by-products produced during the Food Industry chain were also considered for the edible coating production.

Background: In recent years, whole blood parameters and derivatives have been used as prognostic criteria in the course of the disease in various diseases. The prognostic nutritional index (PNI), the systemic immune-inflammation index (SII), the neutrophil-lymphocyte ratio (NLR) have been adapted as an indicator of inflammation and have been widely studied to define the severity of inflammation in some diseases. The aim of this study was to evaluate the relationship between parameters such as NLR, SII, PNI, controlling nutritional status (CONUT) score, nutritional risk index (NRI) and with immunonutrition status and disease activity in patients with ischemic stroke of small vessel, large vessel and other etiologies. Methods: We retrospectively evaluated the records of 1454 consecutive ischemic stroke patients hospitalized in the emergency department of Gaziosmanpasa Education and Research Hospital from 2019 to 2023. Results: Of the 1350 SVO patients included in the study, 58.8% had small vessel, 29.3% had large vessel and 11.9% had other etiologies. There was a significant difference between the 3 etiology groups for PNI and CONUT. The median PNI was 47.03 (41.33-52.85) in the other etiology group, 35.29 (33.69-37.25) in the small vessel group, and 34.11 (30.23-36.87) in the large vessel group. The CONUT median was 5(5-6) in the small vessel group, 5(4-6) in the large vessel group and 4(4-4) in the other etiology group. In addition, CONUT and PNI were also found to be independent risk factors for death. A negative significant correlation was observed between PNI and NLR (r:-0.692), SII (r:-0.591), CONUT (r:-0.685). Significant correlations were observed between CONUT and NLR (r:0.402), SII (r:0.312). Conclusion: PNI and SII were significantly associated with disease activity. PNI, CONUT and NRI as a more accurate prognostic indicator of nutritional status in patients with ischemic stroke of small vessel, large vessel and other etiologies. NLR and SII may be important predictive markers in the course and prognosis of stroke.

This study explores the impact of financial inclusions on financial resilience. In doing so, we utilize the World Bank’s data on global financial inclusions. Our study confirms that the respondents with financial accounts are more resilient than those without accounts. The chances of being financially resilient are around 1.4 times higher for the account holders than their counterparts. We find a significant relationship between gender and financial resilience; males are 1.4 times more resilient than females when other covariates are considered in the regression model.

This paper investigates empirically the effect of export diversification (i.e., both export product diversification and services export diversification) on financial openness, using a sample of 119 countries (including both developed and developing countries) over the period 1985-2014. Based on the Blundell and Bond's two-step system Generalized Methods of Moments, the analysis has revealed that both export product diversification and services export diversification influence positively financial openness. However, this outcome hides differentiated effects across countries in the full sample. Specially, countries with a very high real per capita income experience a positive effect of export concentration on financial openness, while for countries with a relatively lower per capita income, it is rather export diversification that drives positively financial openness. Interestingly, the effect of export diversification on financial openness depends on the size of external shocks that affect domestic economies, as well as countries' economic growth performance. Overall, these findings add to the empirical literature on the effect of international trade on financial openness by showing that both export product diversification and services export diversification matter for financial openness.

Contemporary financial systems, despite their inherent complexity and resilience, face significant challenges related to transparency, efficiency, and security. Notable deficiencies in transparency and emerging security vulnerabilities underscore the pressing need for innovative solutions in current financial practices. Hence, this paper introduces a financial distribution system based on a consortium blockchain. Given organizations’ preference for keeping sensitive data private, the partially decentralized nature of consortium blockchains plays a pivotal role in the proposed system’s architecture. Moreover, within this system, the proposed smart contract serves a dual role. It functions not only as a transactional tool but also as a specialized solution designed to improve transactional procedures. Its multifaceted capabilities include ensuring data accuracy, facilitating swift execution, and ensuring adherence to regulatory requirements within the dynamic financial distribution landscape. Through rigorous testing and empirical analysis utilizing the Hyperledger Besu platform, it has been observed that the performance of the proposed system surpasses traditional blockchain frameworks. The results unequivocally demonstrate the proposed system’s proficiency in handling high-frequency financial transactions with minimal computational burden.

The paper examines the various uncertainties encountered in high-frequency trading (HFT) environments and delves into the multiple challenges faced by HFT firms in navigating the Dodd-Frank Wall Street Reform and Consumer Protection Act (referred to as the "Dodd-Frank Act"), particularly during the initial stages of its enactment. These challenges include the ambiguity surrounding the definition of HFT, the lack of clarity regarding regulatory requirements and boundaries, inconsistencies in enforcement resulting from deviations in understanding the content, and the absence of detailed descriptions of the Act’s provisions. These hurdles significantly impact not only the daily operations of HFT firms but also pose higher demands on their long-term strategic planning and risk management. Drawing upon the Data, Information, Knowledge, Wisdom, and Purpose (DIKWP) model, this study employs an innovative analytical framework. Through the comprehensive application of conceptual space, cognitive space, and semantic space, it provides a systematic methodology for identifying and analyzing the aforementioned issues. This approach not only aids firms in better comprehending and adhering to complex regulatory requirements but also enables them to explore new business opportunities and competitive advantages while ensuring compliance.

Responsible, efficient, and environmentally conscious energy consumption practices are increasingly essential for ensuring the reliability of the modern electricity grid. This study focuses on leveraging time series analysis to improve forecasting accuracy, crucial for various application domains where real-world time series data often exhibit complex, non-linear patterns. Our approach advocates for utilizing Long Short Term Memory (LSTM) and Bidirectional LSTM (BiLSTM) models for precise time series forecasting. To ensure a fair evaluation, we compare the performance of our proposed approach with traditional neural networks, time-series forecasting methods, and conventional decline curves. Additionally, individual models based on LSTM, Bi-LSTM, and other machine learning methods are implemented for a comprehensive assessment. Experimental results consistently demonstrate that our proposed model outperforms all benchmarking methods in terms of mean absolute error (MAE) across most datasets. Addressing the imbalance between activations by consumer and prosumer groups, our predictions show superior performance compared to several traditional forecasting methods, such as the Autoregressive Integrated Moving Average model (ARIMA) and Seasonal Autoregressive Integrated Moving Average model (SARIMA). Specifically, the root mean square error (RMSE) of Bi-LSTM is 5.35%, 46.08%, and 50.6% lower than LSTM, ARIMA, and SARIMA, respectively, on the May test data.

Corporate Diagnosis is now recognized as an important tool by decision makers to predict and correct burgeoning problems that a corporation may face. Methods based on this model stem from the use of mathematics and are increasingly being applied in the analysis of production processes. The goal of this paper is to use a logistic regression to design a scoring model for non-financial corporations in industry. Based on the data obtained from the Registry of the Slovak Republic for 738 non-financial corporations, according to SK NACE 26, SK NACE 27, the proportional financial metrics, using the logistic regression method, were calculated. By applying these methods, two logistic regression models were found to reliably estimate the probability of bankruptcy for a firm.

From grape cultivation to ripening and harvest timing to processing, each step can be a critical point when it comes to wine quality and phenolic composition. In this study, the influence of winemaking technology on resveratrol and quercetin content, as well as other polyphenolic compounds, was investigated. Resveratrol is a non-flavonoid polyphenolic stilbene synthesized by grape skin when damaged by infectious diseases or ionizing radiation. Quercetin is a phenol found in grape skins and stems and is produced to protect grapes from UV light damage. Trans-resveratrol and quercetin are known to act as antioxidants, reduce the risk of atherosclerosis and type 2 diabetes, inhibit the growth of cancer cells, and prevent the release of allergic and inflammatory molecules. However, the question was whether red wine could be enriched with these phenols using an innovative winemaking technology. The innovative idea was to completely replace the cold maceration process with maceration with the addition of wild yeast (Torulaspora delbrueckii, Td). Maceration with the addition of wild yeast (Td) offers the following advantages over traditional cold maceration: (1) higher concentrations of trans-resveratrol (>35-40%) and quercetin (>35-40%) in the final wine, (2) the new wine has a higher potential for human health, (3) the wine has a better aroma and stability due to the higher mannoprotein content, and (4) the better energy efficiency in the production process. The study of stability during storage and aging also included derivatives of benzoic acid and hydroxycinnamic acid, piceid, catechin, naringenin, rutin, kaempherol, hesperetin, and anthocyanins. The study found that younger wines had higher phenolic content, while storage of the wine resulted in a decrease in total phenolic content, especially monomeric stilbenes and quercetin.

Corporate governance is widely suggested by economists and regulators as a solution to reduce agency problems and improve firm performance. However previous studies have failed to generate consistent results. Using a dynamic panel system GMM estimator to alleviate endogeneity concerns we determine the effect of corporate board structure on the performance of a panel of 1265 Chinese firms listed on the Shanghai and Shenzhen stock exchanges from 2010 to 2016. We compare the dynamic system GMM estimator to some commonly used estimators; ordinary least squares (OLS), fixed effects (FE) and the dynamic OLS, and show that these estimates are biased due to endogeneity. The dynamic system GMM estimator incorporates the dynamic nature of internal governance choices to provide valid and powerful instruments that address unobserved heterogeneity and simultaneity. Our results show support for the board model corporate governance mechanism. We find that board size is positive and significantly related to both return on assets and total net profit margin. In addition board independence is positive and significantly related to return on assets but insignificantly related to total net profit margin. Duality was found to have a negative but statistically insignificant relation with firm performance.

This study examines the effect of market risk on the financial performance of 31 non-financial companies listed on the Casablanca Stock Exchange (CSE) over the period 2000-2016. We utilize three alternative variables to assess financial performance, namely return on assets, return on equity and profit margin. Next, we use the degree of financial leverage, the book-to-market ratio, and the gearing ratio as market risk variables. Besides, we employ the pooled OLS model, the fixed effects model, the random-effects model, the difference GMM and the system GMM models. The results show that market risk indicators have a negative and significant influence on the companies' financial performance. The elasticities are greater following the book-to-market ratio compared to the degree of financial leverage and the gearing ratio, respectively. In most cases, the firm size, the tangibility ratio, and the cash holdings ratio have a positive effect on financial performance, whereas the firms' age, the debt-to-income ratio, stock turnover, and leverage hurt the performance of these non-financial companies. Therefore, decision-makers and managers should mitigate market risk through appropriate strategies of risk management, such as derivatives and insurance techniques.

Driven by the importance of early detection for improving patient outcomes, this study investigates the effectiveness of various machine learning algorithms in predicting lung cancer based on clinical data. Lung cancer remains a significant global health concern, and this research seeks to contribute to advancements in early diagnosis through the application of machine learning techniques. The dataset consists of 385 training and 97 test samples, with a k-fold cross-validation approach (k=5) utilized to mitigate overfitting. Additionally, the ADASYN oversampling technique is employed to address class imbalance. Our analysis includes traditional algorithms such as Logistic Regression and Decision Trees, as well as ensemble methods like XGBoost, LGBM, and AdaBoost. Furthermore, we explore the effectiveness of deep learning models, particularly Deep Neural Networks (DNN). Results demonstrate promising accuracy rates across all models, with some outperforming others in terms of precision, recall, and F1-score. Our findings reveal that LGBM achieves the highest accuracy among all models, with an accuracy rate of 96.91%. It also exhibits superior performance in terms of precision, recall, and F1-score, particularly in classifying both positive and negative instances of lung cancer.

The purpose of this article is to address two questions that will aid researchers in understanding FinTech’s inception, development, and potential impact on the stability of the financial system. First, it explains why financial technology is a current phenomenon. While many of the underlying technology for FinTech breakthroughs have been around for some time, it is only recently that financial institutions and entrepreneurs have begun to apply them to financial goods and services. Supply and demand factors in "conventional" financial innovation have been studied, and they have been found to converge, leading to a high rate of innovation. And second, this article explains why FinTech is being covered in greater depth than other types of innovation. This study introduces the concept of "depth" of innovation as a means of answering this question. The more fundamental the innovation, the more it will affect the financial sector. In this paper, we demonstrate that many recent developments in the field of financial technology (FinTech) are truly revolutionary advances, with far-reaching implications for the financial services industry. In addition to the benefits of more adaptability, higher transformational potential might bring increased risk to economic security.

A more sustainable society and economy also implies a more sustainable behavior in the consumption of financial products. A possible change in focus can come from the demand side, so that more sustainable consumption of financial products have to go hand to hand with financial literacy. However, financial literacy, potential favoring of this sustainable behavior, is far from reaching an international consensus about its definition, object and scope. Two objectives are analyzed; the different interpretations of financial literacy in the academic literature, as well as its evolution and how, in what context and with what other concepts the term is used in social networks. Scientometric techniques and content analysis have been used to carry out a systematic review of literature and also NLP to analyze the comments on Social Networks. Critical moments are identified in the definition of financial literacy. Also ten sentiments are analyzed in social networks in wich positivity, trust, and anticipation predominate. Greater attention to this issue is necessary both from the private initiative and from public policies, so that financial literacy is an effective tool for a more sustainable behavior by consumers. Finally, a new definition is proposed based on our findings.

Introduction: The purposes of this study were to seek for overall ratio (OR) and anterior ratio (AR) patients data in normal occlusion and Angle’s malocclusion studies, and to assess if such results support Bolton’s standards as general references. Methods: Pubmed, Medline, CENTRAL and Scholar databases were searched up to February 2018 (CRD42018088438). Gray literature was explored through OpenGray. Non-randomized clinical studies, published in English and assessing Bolton’s OR and AR in normal occlusion and Angle’s malocclusion groups (Class I, Class II, Class II division 1, Class 2 division 2, Class III) patients were included. OR and AR means and standard deviations (SD) were collected. Potential covariates (study design, publication year, country where the study was conducted, number of cases, gender, mesiodistal measurement method, and calibration method) were also extracted. The National Health Heart Lung, and Blood Institute’s Quality Assessment Tool for Observational Cohort and Cross-Sectional Studies was used to assess each included studies quality. Pairwise Random-Effects and Multilevel Bayesian Network Meta-Analyses were used to synthesize available data. Results: Fifty-two observational studies were included (8872 participants; male/females 2674/3272; 16 studies lacked gender information). For normal occlusion, global pooled estimates for OR and AR means were 91.74% (95% CI: 91.37-92.10) and 78.24% (95% CI: 77.85-78.63), respectively. We could identify on Angle’s Class III patients meaningful OR and AR mean deviations from normal occlusion (0.89, 95% credible interval [CrI], 0.66-1.12, and 0.66, 95% CrI, 0.38-0.94, respectively), while on Class I patients we found a meaningful mean deviation from normal occlusion only for OR (0.25, 95% CrI, 0.03-0.47). Concerning gender impact, male patients presented higher OR (0.30, 95% CI 0.00-0.59) and AR (0.41, 95% CI 0.00-0.83) mean values than females in Class I. Conclusions: The results show that global pooled OR and AR mean values for normal occlusion patients are slightly above Bolton’s original values. Class I, for OR mean values, and Class III, for both OR and AR, are proportionally larger than normal occlusion patients. Gender had almost no impact on teeth mesiodistal proportion.

The rationale of this study is to explore underlying sustainability assessment constructs in the context of WCSM implementation as a key focus by manufacturing industries in the journey of achieving world-class status in their manufacturing operations. This study primarily intends to collect primary data from 143 plant managers and supervisors through the structured questionnaires at select manufacturing companies in south India on the basis of area-cum-purposive sampling technique. The survey questionnaire is designed exclusively to reflect the sustainability assessment dimensions in terms of social, economic and environmental issues to examine the impetus of WCSM implementation on the competitive advantage of manufacturing companies. The empirical findings of this study clearly revealed that sustainable manufacturing practices, sustainability programs, creation of sustainable products, safety for employee, community and product, operational efficiency and integration of sustainability goals in day-to-day manufacturing activities were considered to be the key indicators by the manufacturing firms in their never-ending journey towards becoming the world class. Moreover, the WCSM practices & techniques adopted by sample manufacturers have a substantial positive influence on the achievement of competitive advantage in their manufacturing and business operations.

The paper explores using generative artificial intelligence (AI) in financial market data management and forecasting. By integrating multiple data sources and feature extraction techniques, such as fundamental analysis, technical indicators, global economic data, and sentiment analysis, generative AI constructs a comprehensive deep learning framework that significantly enhances financial data management efficiency and market forecasts' accuracy. Specifically, technologies like generative adversarial networks (Gans) and variational autoencoders (VAE) demonstrate substantial data augmentation and model optimisation potential. The application value of the model in real-time market prediction and trading strategy optimization is further amplified through reinforcement learning methods.

The oil and gas industry in Nigeria, a vital contributor to the nation's economy, has long been associated with significant environmental challenges. Pollution, habitat destruction, and greenhouse gas emissions have raised global concerns about sustainability and corporate responsibility. This empirical study explores the relationship between environmental accounting practices and the financial performance of listed oil and gas companies in Nigeria. We investigated eight oil and gas companies that are publicly traded on the Nigerian Stock Exchange Market (NGX) as of January 17, 2022, from 2011 to 2022. The study employs Driscoll-Kraay standard errors and reveals that environmental accounting had significant effects on returns on assets, earnings per share, and liquidity ratio. The study revealed that the implementation of environmental accounting practices had diverse effects on the performance of oil and gas companies in Nigeria. The findings encourage policymakers and stakeholders in the sector to utilise the insights and design more effective regulations and incentives that promote environmental corporate responsibility. Also, valuable insights into the potential benefits and challenges associated with adopting environmental accounting practices, and influencing the decision-making processes of corporate stakeholders were provided to ensure sustainability in terms of improved financial performance of the oil and gas sector in Nigeria.

Purpose- This study seeks to investigate the collaboration between Digitalization and traditional manufacturing industry and investigate, how digitalized management brings new chances and challenges of management. Design/methodology/approach – The author designed a content analytical study researching the role of digitalization in traditional manufacturing industries. The article presents a selective but systematical review of recent digitalization trend and digital twin to be applied for innovative management in Industry 4.0 era. Findings– Digitalization is highly correlated with traditional manufactory in Industry 4.0 era. The study brings a new outlook on the next wave of Digitalization and review of associated challenges and opportunities for management and innovation in traditional manufacturing industries. Research limitations/implications – The research focuses on two branches of traditional industries only: machine tools building and metalworking industries. Future research needs to examine other traditional industries. The research is limited to 2 high related traditional manufacturing industries, machine tools and metalworking industry. Practical implications – The study and application of digitalization should be highly recommended and launched in traditional manufacturing industries. Universities, institutes and vocational schools should update, optimize their courses systems according to prediction of future industry. Originality/value – The paper enhances understanding about the collaboration between digitalization and traditional manufacturing industry. This paper analyzes an important issue the digitalization serves traditional industries. It is unique in its broad analysis of the related terms – Digitalization, Machines 4.0, Industry 4.0 and innovative management in Industry 4.0 era.

This study aims to evaluate the financial performance of SOEs in Indonesia and compare it with private companies using financial ratio analysis and efficiency analysis approaches. Four construction sector SOEs were evaluated, and five private companies were compared using financial data from 2015 to 2022. The financial ratio analysis used the Peterson (2013) approach, while the efficiency analysis employed the data envelopment analysis (DEA) approach and the paired t-test. The study results show that the financial ratio performance of state-owned companies is relatively poor, with low profitability, critical liquidity, and a high debt ratio. Debt, as a source of capital in financing construction projects, makes companies face a greater debt risk. This study validates that SOEs have lower efficiency compared to private companies.

This paper focuses on the paradigm that explains the link between energy transitions and financial transformations. In particular, it attempts to shed some light on the following question: How did the transition from wood to coal affect financial development in late 18^th and early 19^th century Britain? The results demonstrate that the energy transition in Britain during the 1^st Industrial Revolution constituted an important moment in the country's financial development and can be used as an example of how an energy innovation can foster the financial development of particular countries or regions.

This paper examines the effect of chronotype on the delinquent credit card payments and stock market participation through preference channels. Using an online survey of 455 individuals who have been working for 3 to 8 years in companies in mainland China, the results reveal that morningness is negatively associated with delinquent credit card payments. Morningness also indirectly predicts delinquent credit card payments through time preference, but this relationship only exists when individuals’ monthly income is at low and average level. On the other hand, financial risk preference accounts for the effect of morningness on stock market participation. Consequently, an additional finding is that morningness is positively associated with financial risk preference, which contradicts previous finding in the literature. Finally, based on the empirical evidence, we discuss the plausible mechanisms that may drive these relationships and the implications for theory and practice. The current study contributes to the literature by examining the links between circadian typology and particular financial behaviours of experienced workers.

In this paper, we investigate the accuracy and robustness of three classes of methods for solving two-phase incompressible flows on a staggered grid. Here, the unsteady two-phase flow equations are simulated by finite volumes and penalty methods using implicit and monolithic approaches (such as the augmented Lagrangian and the fully coupled methods), where all velocity components and pressure variables are solved simultaneously (as opposed to segregated methods). The interface tracking is performed with a Volume-of-Fluid (VOF) method, using the Piecewise Linear Interface Construction (PLIC) technique. The home code Fugu is used for implementing the various methods. Our target application is the simulation of two-phase flows at high density and viscosity ratios, which are known to be challenging to simulate. The resulting strategies of monolithic approaches will be proven to be considerably better suited for these two-phase cases, they also allow to use larger time step than segregated methods.

The goal of this paper is to explore the relationship between the specific non-performing loan ratio (NPL ratio) and the corresponding impact on the bank’s profitability and lending behavior. It also seeks to investigate the macroeconomic impacts of economies with excessively high NPL ratios as well as the efficacy and impact of alleviation measures used by banks and governments around the world to help facilitate a decrease in high NPL ratios. The possible implications and effects of the COVID-19 pandemic on NPL ratios is also addressed in this paper. It is found that when excessively high NPL ratios go unaddressed, the economy tends to suffer. On the other hand, this study shows that when measures are taken to reduce or eliminate the high NPL ratios, economic performance improves, and the reduction has a clear positive impact on the economy.

Plasmonic gold nanorods play important roles in nowadays state-of-the-art plasmonic sensing techniques. Most of the previous studies and applications focused on gold nanorods with relatively small aspect ratios, where the plasmon wavelengths are smaller than 900 nm. Gold nanorods with large aspect ratios are predicted to exhibit high refractive-index sensitivity (Langmir 2008, 24, 5233–5237.), which therefore should be promising for developing of high-performance plasmonic chemical- and bio-sensors. In this study, we developed gold nanorods with aspect ratios over 7.9, which exhibit plasmon resonances around 1064 nm. The refractive index (RI) sensitivity of these nanorods have been evaluated by varying their dielectric environment, whereby a sensitivity as high as 473 nm/RIU can be obtained. Furthermore, we have demonstrated the large-aspect-ratio nanorods as efficient substrate for surface enhanced Raman spectroscopy (SERS), where an enhancement factor (EF) as high as 9.47×10⁸ was measured using 4-methylbenzenethiol (4-MBT) as probe molecule. Finally, a type of flexible SERS substrate is developed by conjugating the gold nanorods with the polystyrene (PS) polymer. The results obtained in our study can benefit the development of plasmonic sensing techniques utilized in the near-infrared spectral region.

Achieving the dual development of rural revitalization and urbanization is an important strategic goal of China’s current modernization. Rural population and settlements are the main components of the countryside in traditional agricultural areas, and play an important role in the development of the countryside itself in terms of urban and rural land use and in the formation of urban and rural development patterns. This study analyzes the spatial and temporal changes in rural populations and settlements at the township level, as well as the degree and type of coupled development. A framework for urban–rural development relationships based on different types of coupled development is proposed, and a model of urban–rural forces is constructed to derive the spatial pattern of urban–rural development at the township level that may be formed in the future. Our study shows that the rural population and settlements in the study area are characterized by significant spatial and temporal dynamics, indicating that traditional rural areas are in a process of rapid development and change. The results of the township-level coupling measurements present four types of development in terms of the spatial pattern of urban–rural development: A-type is most likely to produce new cities or satellite towns in the Jixi–Harbin–Qiqihar area in the future; B-type is the fastest dying area in the future, located in the Harbin and Qitaihe clusters, with a tendency to merge into Harbin; C-type is the area to be focused on in the future to attract population and strictly control the growth of the rural settlement area to avoid it turning into B-type; D-type may develop regional township centers in the future in the combined area of Jiamusi City, Suihua City and Mudanjiang City. The results of the study provide experience in realizing rural revitalization according to local conditions. The new spatial pattern of urban–rural development provides an important reference for formulating land use policies, optimizing urban–rural land allocation and realizing integrated urban–rural development strategies.

The high genetic diversity of the tomato and its high micronutrient content make this fruit very interesting from an economic and nutritional point of view. The genetic erosion suffered by this crop, due to breeding objectives based on yield and marketing, makes it necessary to return to the origins in search of the nutritional and organoleptic quality lost in traditional varieties. In this study, the agronomic, physical, organoleptic and nutritional characteristics of eighteen F1 hybrids obtained by crossing fourteen traditional varieties, previously selected for their quality, were studied to select genotypes of superior quality that could be candidates for new. All parameters studied were strongly influenced by genotype, showing a wide range between cultivars. Principal Component Analysis revealed the characteristics of each hybrid that made it stand out from the others. Some hybrids (H3, H4, and H6) stand out because of their high concentration of active compounds, others (H16, H15, H10, H17, H9, and H11) because of agronomic performance and high content of β-carotene, and H5 was the only one to contain chlorophyll in their ripe fruits. Finally, the evaluation index allowed the selection of five hybrids with interesting characteristics, combining good yield performance and high quality

The service sector, whose value has started to increase in recent years, has gained momentum with the acceleration of economic developments especially after the 2000s in Turkey. In a world where competition is increasing and social purchase perception is changing, companies started to differentiate in the service sector to create a competitive advantage. Companies that would like to grow in the industry and aspire to a greater proportion need credit to extend. There are many factors to consider in order to allocate the credit. Banks make financial and non-financial analysis to make credit decisions. This study has been prepared to assess the effect of financial and non-financial features of middle segment companies that need credit in the service sector on the credit decision to be allocated by banks. The group of variables that explain the credit decision at the highest level in these companies are non-financial variables.

As prominent oil producers, the Gulf Cooperation Council (GCC) countries have played a significant role in the global energy market. However, as the world's attention increasingly shifts towards environmental sustainability, understanding the implications of the GCC's economic activities on CO2 emissions becomes indispensable. This research paper investigates the relationship between specific economic indicators and their impact on CO2 emissions in the GCC from 2001 to 2021. The study employs quantile regression, a powerful statistical method that estimates the conditional quantiles of a response variable given a set of predictor variables. The findings reveal several important insights: Financial institution efficiency is significant and negative at a 1% level at the lower (10th) -83537.3 and the higher quantile (90th) -549002.3. The relationship between GDP per capita and CO2 emissions varies across quantiles, highlighting the complexity of the growth-environment nexus. Total patents exhibit a positive and significant relationship with emissions, underscoring the importance of directing innovation towards environmentally sustainable solutions. Renewable energy consumption displays a nuanced relationship with CO2 emissions, with a stronger negative impact observed at higher consumption levels. This underscores the potential of renewable energy to mitigate emissions when integrated at scale. The study's outcomes hold crucial policy implications for the GCC countries as they seek to align economic growth with environmental sustainability. The findings emphasize the importance of fostering financial institution efficiency, promoting green innovation, and expanding renewable energy sources to reduce emissions

Nowadays, the transparency of governments with respect to the sustainability of public services is a very interesting issue for stakeholders and academics. It has led to previous research and international organisations (EU, IMF, OECD, United Nations, IFAC, G-20, World Bank) to recommend promotion of the online dissemination of economic, social and environmental information. Based on previous studies about e-government and the influence of administrative cultures on governmental accountability, this paper seeks to identify political actions useful to improve the practices of transparency on economic, social and environmental sustainability in European local governments. We perform a comparative analysis of sustainability information published on the websites of 72 local governments in 10 European countries grouped into main three cultural contexts (Anglo-Saxon, Southern European and Nordic). Using international sustainability reporting guidelines, our results reveal significant differences in local government transparency in each context. The most transparent local governments are the Anglo-Saxon ones, followed by Southern European and Nordic governments. Based on individualized empirical results for each administrative style, our conclusions propose useful policy interventions to enhance sustainability transparency within each cultural tradition, such as development of legal rules on transparency and sustainability, tools to motivate local managers for online diffusion of sustainability information and analysis of information needs of stakeholders.

Traditional Medicine (TM) is a culturally-rooted healthcare practice, and its use, including for treating illnesses among children, has been reported in many countries. Despite the cultural significance of TM in managing children’s illnesses, evidence suggests that child mortality remains high in many settings. This indicates that the sole use of TM within families and communities might act as a barrier to using biomedical services, contributing to avoidable deaths. Globally, Indonesia is in the top 10 countries with the highest child mortality rates. In addition, Belu is a district in East Nusa Tenggara province, Indonesia that exhibits a high number of child deaths within the last three years. However, the use of TM for the treatment of illnesses among children in Indonesia has received minimal academic attention. This study aimed to understand parental beliefs, knowledge, views, and perceptions of TM and the impact on the use of TM and biomedical services in the treatment of illnesses among their children in Belu district, Indonesia. The participants (n=25) were parents with the real-life experiences of using TM for treating their children’s illnesses. They were recruited using the snowballing sampling technique. Data were collected using in-depth qualitative interviews. A thematic data analysis was performed and guided by a qualitative data analysis framework. The findings were grouped into four main themes: (i) parental beliefs, knowledge, views, and perceptions of TM, (ii) the influence of these factors on parental use of TM and biomedical services for the treatment of children’s illnesses, (iii) social and cultural influences on the use of TM and biomedical services among their children, and (iv) the impact of the sole use of TM or late medical diagnosis on the health condition and the death of children. The findings show that the use of TM is a common practice within families and communities in Belu, however evidence suggests that child mortality remains high in the setting, indicating less effectiveness of the sole use of TM. Thus, there is a need for the development of collaborative models of healthcare programs and service delivery fostering mutual respect and understanding between traditional healers and healthcare professionals, which could significantly contribute to improving parental use of biomedical services for the treatment of their children’s illnesses.

In 1789, the Annonaceae family was cataloged by de Jussieu. It encompasses tropical and subtropical plants which are widespread in distribution across various continents such as Asia, South and Central America, Australia and Africa. The genus of Annona is one of the 120 genera of the Annonaceae family and contains more than 119 species of trees and shrubs. The majority of these species are found in tropical America with more than 105 species (26 of them are endemic). Due to its edible fruits and medicinal properties, Annona is the most important genus of Annonaceae family. Despite Annona having many species, only limited species of this family are economically important such as A. squamosa L. (sugar apple), A. cherimola Mill. (Cherimoya), A. muricata L. (guanabana or soursop), A. atemoya Mabb. (atemoya), a hybrid between A. cherimola and A. squamosa, A. reticulata L. (custard apple), A. glabra L. (pond-apple) and A. macroprophyllata Donn. Sm. (ilama). Phytochemically, several classes of secondary metabolites such as acetogenins, essential oils, alkaloids, terpenoids and flavonoids have been described in this genus. A variety of pharmacological activities have been reported from various parts of Annona species specially leaves and seeds including applications against antibacterial, anticancer, antidiabetic and anti-inflammatory.

Fingerprint recognition systems have achieved widespread integration into various technological devices, including cell phones, computers, door locks, and time attendance machines. Nevertheless, individuals with worn fingerprints encounter challenges when attempting to unlock original fingerprint systems, resulting in disruptions to their daily activities. This study explores two distinct methods for fingerprint backup: traditional fingerprint impression and 3D printing technologies. Unlocking tests were conducted on commonly available optical fingerprint lock-equipped cell phones to assess the efficacy of these methods, particularly in unlocking worn fingerprints. The research findings indicated that traditional fingerprint impression method exhibited high fidelity in reproducing fingerprint patterns, achieving an impressive unlocking success rate of 97.8% for imprinting unworn fingerprints. However, when dealing with worn fingerprints, traditional fingerprint impression technique showed a reduced unlocking success rate, progressively decreasing with increasing degrees of finger wear. In contrast, 3D printed backup fingerprints, with image processing and optimization of ridge height, mitigated the impact of fingerprint wear on unlocking capability, resulting in an unlocking success rate of 84.4% or higher. Thus, the utilization of 3D printing technology proves advantageous for individuals with severely worn or incomplete fingerprints, providing a viable solution for unforeseen circumstances.

This study examines whether information about the winners of the Sustainability Reporting Award (SRA) contributes to the usefulness of the information in the financial statements. This study used a sample consisting of 110 winners of SRA (SRA firms) and 110 companies that did not receive SRA (non-SRA firms) from 2008 to 2016. The study found that earnings per share (EPS), book value per share (BVPS), and earnings per share change (EPSC) are value relevant information. Results of comparison between SRA firms and non-SRA fimrs, this study found that EPS positive association with stock price and with returns for SRA firms is higher than that for non-SRA firms. Findings of this study also show that, value relevance of BVPS for non-SRA firms is higher than that for SRA firms. When mesures of Price and BVPS are transformed into natural logarithm, the value relevance of BVPS for SRA firms is higher than that for non-SRA firms. Thus, the results are sensitive to measures of the variables. The findings of this study indicate that information about the winners of SRA contributes to the usefulness of financial statements.

Deep behavioral covariates (DBCs) introduced in this perspective form a new class of covariates that have the potential to enhance the performance of predictive models and improve analytics in clinical decision support applications. DBCs can measure how engaged a patient tends to be and how he or she tends to respond to events, and they may be highly predictive of the patient’s outcomes for a planned treatment. DBCs may potentially serve as a standard to measure patient engagement and activation and may form highly efficient mechanisms for improving patient outcomes.

In this paper, we establish some inequalities bounding the ratio Г_p,k(x)/Г_p,k(y), where Г_p,k(.) is the (p,k)-analogue of the Gamma function. Consequently, some previous results are recovered from the obtained results.

Derivatives products have become essential in portfolio diversification, price discovery and risk hedging. Derivatives are complex instruments; their role is twofold, risk management and speculation, and their actual Impact on the underlying assets’ behaviours are not well understood. Little is documented empirically on how these instruments’ two-edged roles influence firms’ financing decisions, firm risk exposures, and stability. Given the growing interest in using derivatives in risk management and portfolio engineering, this study examines the practical impact of derivatives usage on the underlying firm’s financing policy and stability. The paper uses data from South African listed non-financial firms for the period 2000 to 2019. The study employs a dynamic panel model estimated with System Generalised Methods of Moments (GMM). The initial analysis shows that derivatives use reduces the cost of capital and increases firm stability. However, further in-depth analysis provides evidence that extensive use of derivatives increases firms’ capital costs and negatively impacts financial stability. These findings imply that the risk embedded in derivatives’ speculation dominates their risk management function. The results are subjected to numerous controls for robustness, including financial leverage, firm size, cashflows and asset tangibility.

Development of Halal Tourism in Indonesia is the focus of the Indonesian government and MSMEs have an important role in supporting the development of halal tourism in Indonesia. This study aims to examine the relationship between marketing communication and Islamic financial literacy on Islamic financial inclusion and MSMEs performance in the halal tourism sector. A covariance-based SEM technique utilizing LISREL software was used to analyze the data from this investigation. Non-probability sampling was employed to collect the data, and the sample consists of 152 halal tourism entrepreneurs. We find that positive and significant association between Islamic financial inclusion and business performance. We also find that there are a positive and significant association between Islamic Financial Literacy and Islamic Financial Inclusion. Marketing communication and Islamic financial inlcuon a positive relationship but insignificant. This studi implies that to establish a halal tourist ecosystem for long-term development in Indonesia, commercial actors must lend their full support. This study demonstrates that they can thrive when MSMEs in the halal tourist ecosystem are backed by Islamic banking and Islamic rural banks. As a result, a more accommodating approach from Islamic banking is required to provide access to halal finance for business actors in Indonesia’s halal tourism ecosystem.

The aim of this paper is to identify and document some functions and contextsof traditional pottery within northern Ghana. The descriptive approach of the qualitative research methodology was employed. Interview and observation methods were employed as the data collection methods. They were used to ascertain reasons why some potteryare engaged in certain contexts andfor certainfunctions. The data was tabulated to include the traditional name of the pot, the function and the context. The data were then analyzed and the indications were that, the potters make interesting forms of traditional pottery for different purposes; and the local name given to each pot perfectly defines their functions and contexts within northern Ghana. On the flipside of the coin, the function and context of every pot can also be dictated by its end user. Base on this, the researchers were able to discover some functions and contexts of the indigenous pottery which were put into some groups. On the first hand, the researchers classified the functions into five groups of purpose. These included: domestic purposes, religious purposes, agricultural purposes, rites of passage purposes and traditional herbal medicinal purposes. On other hand, seven groups of contexts were also discovered at the time of the study. These included: courtyards, bedrooms, bathrooms, graveyards, kitchens, shrines, and hencoops as places where these pots can be found among the people of the Northern Ghana.

Background: Clinical trails have revealed that patients with depression generally accompanied with learning and memory impairment, which critically impact on individual’s health and development. Danggui-Shaoyao-San (DSS), a famous Chinese complex prescription, significantly overcame depression and relieved cognitive disorder based on previous research and publication. However, its effectsand potential mechanism against chronic restraint stress (CRS) remained unknown. Methods: CRS animal model was established and mice were divided to six groups while they were oral administrated with Danggui-Shaoyao-San at doses of 1.25, 2.5 and 5 g/kg for 14 days. Emotional and cognitive performances were detected by behavior tests, meanwhile neural plasticity and its molecular mechanism were examined by Dil staining, western blot and immunofluorescence. Results: DSS treatment dose-dependently improved locomotion ability in open filed test, overcame depression behavior in forced swimming test and elevated plus maze test, enhanced learning and memory ability in Morris water maze test. CRS decreased number of total spines and mushroom spines, while DSS treatment dose-dependently restored these by Dil staining. Expression of BDNF and GluR1 were significantly down-regulated in CRS group, which were significantly normalized by DSS. Conclusions: DSS treatment dose-dependently reversed CRS-induced cognitive impairments by inducing structural remodeling of neurons.

The financial performance of local governments is closely related to the economic growth of a region. Strong financial performance provides a solid foundation for sustainable economic development. This study analyses the relationship between local government financial performance, capital expenditure, and sustainable economic growth in Banten Province. A quantitative approach was employed, using secondary data from Regional Revenue and Expenditure Budgets and economic growth statistics. Purposive sampling was utilised, and data analysis was conducted using Path Analysis. The findings reveal that several financial ratio variables significantly impact economic growth directly and indirectly through capital expenditure as a mediating variable. Directly, the independence ratio, effectiveness ratio, efficiency ratio, fiscal decentralisation ratio, dependency ratio, and capital expenditure significantly influence economic growth. The independence and effectiveness ratios have a positive impact, indicating that improvements in these variables directly foster economic growth. However, the efficiency and fiscal decentralisation ratios have a negative impact, suggesting that increases in these variables may reduce economic growth. Indirectly, through capital expenditure, the independence, effectiveness, dependency, and compatibility ratios significantly affect economic growth, with the independence ratio being the most dominant. Conversely, the fiscal decentralisation and efficiency ratios do not show significant indirect effects, indicating that capital expenditure is not an effective mediator for these variables.

This paper aims to establish a current relationship between pharmaceutical sciences and the development of perfumes and fragrances, which bring significant economic benefits and whose added value is among other professionals, the one made by professionals in Pharmacy. For this purpose, historical data are used as a starting point and galenic, chemical and botanical aspects are discussed in a transversal way. In this sense, it must be taken into account that in the case of Spanish pharmacy, it is closely linked to the knowledge and use of plants. Sources such as Web of Science (WOS) and databases such as Scopus, monographs and various web pages (where scientific-technical documents appear) have been used. The results and discussion are based on the selection of the 50 plant species most commonly used in high quality fragrances. Therefore, this publication should be considered as an approach to this subject based on an analysis of a representative sample of data. Some characteristics of perfumes (classification according to the concentration of essential oils and combination of plant extracts) are presented beforehand. They also briefly compile the traditional and modern ways in the treatment of these extracts. The main focus of this work is the botanical and chemical analysis of these described plants, pointing out their common name, correct botanical name, geographical place of origin, used part of the plant and main molecules. The 50 botanical species belong to 27 families of angiosperms and are represented in a large part of the phylogenetic tree of botanical systematics. The most significant families are aromatic: Rutaceae (16.7%), Lamiaceae (16.7%) and Apiaceae (6.5%). The most represented genus is Citrus (with seven species or hybrids). However, it should be noted that natural extracts of good quality natural fragrances may be supplemented with chemically synthesized molecules. Of the 50 botanical species selected, 84% of the extracts have their origin in Tropical Asia, the Middle East and the Mediterranean region. This figure generally coincides with the percentage of medicinal plants (or their extracts) admitted by the European Pharmacopoeia. All parts of a plant (depending on which one it is) can be a source of molecules for the elaboration of these products. The most commonly used parts to obtain extracts are flowers (34%) and leaves (30%), a biological circumstance that is explained in this work. On the opposite side are the resins (10%), rhizomes and roots (8%). In this work, 110 molecules have been found that are part of the essences of perfumes and fragrances, the most frequent are: linalool, limonene, 1,8-cineole, eugenol and derivatives, geraniol, vanillin and derivatives, β-cariophyllene, p-cmene and farnesene and derivatives (3.64%). However, in order to elaborate a quality perfume, many other molecules must be taken into account, according to the creative experience of the perfumer, which is subject to confidentiality and chemical analysis according to current legislation, which would avoid fraud, allergy and dermatitis problems.

This article presents an experimental study focused on the impact of supplementing pure gasoline (E0) with bioethanol, gradually increasing the biofuel concentration up to 70% (E10, E50, and E70). The research was conducted in two phases: In the first phase (Part I), the engine's operation involved varying engine speeds (n = 2000 rpm, n = 2500 rpm) and adjusting throttle openings (15%, 20%, 25%) to analyze changes in brake torque, thermal efficiency, and ecological indicators. The second phase (Part II) aimed to complement and clarify the study data. Here, the engine was maintained at a constant speed (n = 2000 rpm) and brake torque (MB = 80 Nm) while altering ignition timing. The findings revealed that increasing the bioethanol concentration up to 70% led to modest enhancements in engine brake torque and thermal efficiency. However, the most significant impact was observed in the reduction of greenhouse gas emissions and incomplete combustion byproducts. The study also established that achieving higher thermal efficiency requires compensating for the extended ignition delay phase resulting from bioethanol addition by advancing ignition timing. Nevertheless, this approach is constrained by the escalating emissions of carbon dioxide and hydrocarbons. These findings provide valuable insights into optimizing the balance between bioethanol supplementation, engine performance, and environmental sustainability in spark ignition engines.

Biodiversity plays an important role in maintaining the ecological balance of the earth. The study of traditional knowledge related to biological resources is a hot issue in the field of international biodiversity conservation. Xishuangbanna is a key area of biodiversity and a cultural hotspot of international significance. According to the Technical Regulation for Classification, Investigation, and Inventory of Traditional Knowledge Relating to Biological Diversity issued by the Ministry of Ecology and Environment, we investigated and catalogued the traditional knowledge related to biodiversity of the Jino people who have lived in Xishuangbanna for generations, and collected 490 entries of traditional knowledge related to biodiversity of the Jino people. Drawing on the traditional knowledge diversity index calculation method proposed by Wang Guoping, the overall traditional knowledge α-diversity index of the Jino people is 0.63, indicating that the richness of the traditional knowledge of the Jinuo people is relatively high. The traditional culture related to biodiversity, the traditional knowledge related to agricultural genetic resources, and the traditional technology related to the sustainable utilization of biological resources are relatively rich and diverse. The diversity index is 0.86, 0.82 and 0.79 respectively. In addition, Xishuangbanna has invested a lot of energy in biodiversity protection, including the establishment of nature reserves, botanical gardens, zoos, ecological tea gardens and other species reserves, the promulgation of laws and policies related to biodiversity protection, and has achieved remarkable results in in-situ protection and ex-situ protection. On the basis of analyzing the progress and achievements of biodiversity conservation in Xishuangbanna, this study points out that Xishuangbanna faces challenges such as the loss of traditional knowledge, insufficient conservation efforts, and great changes in land use, and puts forward corresponding suggestions.

To support the decision making process of new investors, this paper aims to implement Machine Learning algorithms to generate investment indications. Three artificial intelligence techniques were implemented, namely: Multilayer Perceptron, Logistic Regression and Decision Tree, which performed the classification of investments. The results of the different algorithms were compared to each other using the metrics: accuracy, precision, recall, and F1-score. The Decision Tree was the algorithm that obtained the best classification metrics and an accuracy of 77%.

Financial literacy is a path to sustainability and has an important role in ensuring the financial sustainability of individuals, families, enterprises and national economies. The level of these economic indicators such as debt, payment discipline, savings and financial management all translate into prosperity or insolvency and bankruptcy and result partially from financial literacy. The higher the level of financial literacy, especially of young people, the more favorable the level of economic indicators, which translates into the economy and sustainable development. However, despite many years of research, there is still a lack of a uniform and coherent definition of financial literacy, as well as methods for measuring it. This study offers a small step forward, presenting the authors’ own view of the concept of financial literacy, the conceptualizations of financial literacy and methods used for investigating. Moreover, they present the results of a survey conducted on the financial behaviour, financial attitudes, and financial knowledge of the Polish youth and compare this to a PISA study on 15-year-old students. Results demonstrate a good, and partially very good, level of financial literacy among young Poles, showing that they are rational in their financial decision making.

Autism spectrum disorder (ASD) is a neurodevelopmental condition characterized by impaired social communication and repetitive or stereotypic behaviours. In utero exposure to environmental chemicals, such as polychlorinated biphenyls (PCBs), may play a role in the etiology of ASD. We examined the relation between plasma PCB concentrations measured during pregnancy and autistic behaviours in a subset of children aged 3–4 years old in the Maternal-Infant Research on Environmental Chemicals (MIREC) Study, a pregnancy and birth cohort of 546 mother-infant pairs from Canada (enrolled: 2008-2011). We quantified the concentrations of 6 PCB congeners that were detected in >40% of plasma samples collected during the 1st trimester. At age 3–4 years, caregivers completed the Social Responsiveness Scale-2 (SRS), a valid and reliable measure of children’s reciprocal social and repetitive behaviors and restricted interests. We examined SRS scores as both a continuous and binary outcome, and we calculated Bayesian predictive odds ratios for more autistic behaviours based on a latent variable model for SRS scores >60. We found no association between plasma PCB concentrations and autistic behavior, However, we found small and imprecise increases in the mean SRS score and odds of more autistic behaviour for the highest quartile of plasma PCB concentrations compared with the lowest quartile; for instance, an average increase of 1.1 [95%PCI: −0.5, 2.6] in the mean SRS (exposure contrast 4^th versus 1^st quartile) for PCB138 translated to an odds ratio of 1.6 [95%PCI: 1.0, 2.5]. Our findings illustrate the importance of measuring associations between PCBs and autistic behaviour on both continuous and binary scales.

Soybean a pulse of considerable nutritional value due to its high protein, fibers and polyunsaturated fatty acid (PUFA) contents, also contains phytoestrogenic compounds that definitely hinder its recommendation for general consumption. Contrarily to ancient times when soybeans were boiled, modern commercial soy-foods can contain up to 150 mg/100g of estrogenic isoflavones. Interestingly, current estimations of isoflavone intake in the literature do not distinguish between the origins of soy-food i.e. home-made or commercial. As a result, the isoflavone exposure in Asian countries may well be over-estimated. This study aims to demonstrate, based on step-by-step monitoring of isoflavones, that traditional and domestic treatments, leveraging isoflavones water-solubility, can indeed significantly reduce their content in soy-foods. Indeed, when compared to commercial foods, the isoflavone contents was found to be 20, 2.6, 4.5 and 9.8 times lower in “home-made” soy-juice, tofu, tempeh and miso, respectively. Additionally, water soaking was found to reduce the isoflavones levels in soy-textured-proteins by more than 70%. Hence, this simple process has the potential to help drastically reduce overall xenoestrogens exposure. This study could serve as a basis for establishing the isoflavones Reference Dose and issuing food safety guidelines.

The Sakha people have a long history of use of medicinal plants in traditional medicine and healing practices. This article explores the use and naming practices found with 10 plants that grow in far northeastern Russia, in the Arctic and Subarctic zones of the Republic of Sakha (Yakutia). A field survey of 2500 participants was used to identify the most widely used medicinal plants, their names, and uses. Findings were double-checked with published resources. A small set of criteria are used in naming practices. These practices are based on the plant’s appearance, its habit, or in some way are related to their use, indexing the disease, or the diseased organ, or the result of healing. We find robust knowledge and practice of traditional medicine across the Sakha population, and deep knowledge of plants among Sakha herbalists, healers and shamans.

Knowledge about pharmacological benefits of different seeds is an important factor for cultivation and application of medicinal herbs and plants. The seeds of medicinal plants are stores of valuable and active secondary metabolites that have been commercially and economically beneficial and helpful for medicine and pharmacy. The major parameter of reproduction and preservation of plants are also seeds which have a functional role in the distribution and establishment of plant in different regions. Five important seeds which have tremendous medicinal and pharmacological benefits are anise, basil, borage, cilantro and chamomile. Anise seed is used as a spice, either whole or ground, and its essential oil and extract are also obtained from the seeds. Basil seeds have a long history of usage in Chinese and Ayurvedic medicine, which are the good source of minerals, high in fiber including pectin, rich is flavonoids and other polyphenols. Borage seed oil is used for skin disorders such as seborrheic dermatitis, atopic dermatitis, and neurodermatitis. Cilantro is an annual herb that is part of the Apiaceae family. The seeds are rich in iron, zinc, copper and essential minerals which can decrease bad cholesterol and improves good cholesterol in the body. Chamomile can be considered for treatment of insomnia, hemorrhoids, anxiety, diarrhea and may help with wound healing and skin irritation. The keyword searches for Anise, Seed, Basil, Borage, Cilantro, Chamomile, Seed biology, Traditional medicinal science and seed anatomy were performed by using Scopus, Web of Science, PubMed and Google scholar. The aim of this article review is to survey the pharmacological and health benefits of seeds of five important medicinal plants.

This paper compares a series of traditional and deep learning methodologies for the segmentation of textures. Six well-known texture composites first published by Randen and Hus{\o}y were used to compare traditional segmentation techniques (co-occurrence, filtering, local binary patterns, watershed, multiresolution sub-band filtering) against a deep-learning approach based on the U-Net architecture. For the latter, the effects of depth of the network, number of epochs and different optimisation algorithms were investigated. Overall, the best results were provided by the deep-learning approach. However, the best results were distributed within the parameters, and many configurations provided results well below the traditional techniques.

In recent years, due to the low energy utilization of the whole life-cycle of buildings and the di-minished indoor and outdoor comfort of buildings and the impact on the surrounding environ-ment caused by the carbon emissions of the building life-cycle, the establishment of a whole life- cycle carbon emission model for buildings to improve their energy utilization at all stages of their life-cycle has received unprecedented attention. In China, the construction industry has become a major carbon emitter, and traditional houses, as a green development building type, are an effec-tive way to achieve carbon neutrality in buildings, but the existing green building evaluation system lacks quantitative indicators of carbon emissions in the building life-cycle. The exclusive evaluation indexes for regional and characteristic buildings, such as traditional houses, are ne-glected; This study explored the formula for calculating the life-cycle carbon emissions model of traditional residential houses under a carbon emission intervention and used real measurements of the physical environment and comparative analysis of the limitations of existing local stand-ards; The results showed that the carbon emission calculation formulas for each stage of the life-cycle of traditional residential houses must be established by combining the selection of local building materials, and the materials for sustainable energy and carbon sinks of green systems. Based on the results of indoor and outdoor heat and humidity environmental tests of residential houses and an analysis of the limitations of existing evaluation indexes due to locality, four im-portant factors affecting locality green buildings in terms of energy utilization, site ecology and landscape, land saving and material saving were extracted; on this basis, the whole life-cycle carbon emission model of traditional residential houses is constructed by combining the existing green building evaluation standards with the carbon emission indexes of the life-cycle of tradi-tional residential houses.

The purpose of this original study is to critically analyze the emergence and development of the national models of financial regulation; international standards and codes; regional and national financial regulation and supervision (the case of UK, USA, Sweden, EU and Finland). The research raises both academic and regulatory concerns. It aims at shaping changes (innovations) in the supervisory practices of national and international regulators in response to new developments in FinTech markets, digital products, financial instruments and risks. Secondly, it will stimulate more systematic work on regulatory databases, registration and reporting procedures in various economies in different financial markets. The author identifies five main systems of national financial regulatory markets: the multi-tiered, multi-agency US system; the Twin Peaks model (UK); the mega-regulatory model (Sweden). There is a thorough review of international standards and institutions that work for the stability of financial systems. The analysis of regional and national systems of financial regulation and supervision is based on the examples of the EU and Finnish institutions. National macro and microeconomic regulation and supervision have been examined with a focus on the US Federal Reserve and the US Treasury. National and international regulatory institutions have been evolving along several lines. First, minimum capital and credit risk requirements for banks (80s of the 20th century) are complemented in the 21st century by buffer reserves, liquidity and leverage standards. Second, regulation focuses on ensuring the sustainability of the national economy. The regulatory focus is on ensuring the sustainability of national and global financial systems. Third, there is an increase in the number of supervised institutions. Fourth, there is a division of functions between central banks (macroeconomic regulation) and one or two mega-regulators (microeconomic regulation and supervision). Fifth, there is a division of labour between the international financial institutions (BIS, IMF, WB) and national regulators. Sixth, the focus is on protecting consumers and investors, and countering money laundering and the financing of terrorism. Seventh, there is an understanding for a common approach by central banks to new financial technologies and cybersecurity.

The impact of organizational accreditation and professional certification and the evidence-based measurable impact of those for both academic programs and affiliates is one of specific interest to universities and individuals in the healthcare management field [1]. The authors’ analysis examined the impact of hiring graduates from higher education programs that held external accreditation from the Commission on Accreditation of Healthcare Management Education (CAHME). Graduates’ affiliation with the American College of Healthcare Executives (ACHE) professional healthcare leadership organization was also assessed as an independent variable. Study outcomes focused on these graduates’ respective healthcare organization’s performance measures (cost, quality, and access) to assess the researchers’ inquiry into the perceived value of a CAHME-accredited graduate degree in healthcare administration and a professional ACHE affiliation [2]. The results from this study found no effect of CAHME accreditation or ACHE affiliation on healthcare organization performance outcomes. The study findings support the need for future research surrounding healthcare administration professional graduate degree program characteristics and leader development affiliations, as perceived by various industry stakeholders.

This study presents a new form of velocity distribution in laminar liquid flow in rectangular microchannels using the eigenfunction expansion technique. Darcy friction factor and Poiseuille number are also obtained analytically. Due to the symmetry of the solutions, the effects of changing the aspect ratio from 0 to ∞ are also discussed. Using finite element method (FEM), the obtained analytical results are further compared with the 3D numerical simulations for the rectangular microchannels with different range of aspect ratio and pressure gradient, and excellent agreements were found. These findings provide additional insights in interpreting the results of the pressure-driven flows in finite aspect ratio microchannels, in which very precise comparison with the macroscale theory is crucial.

This study examines the impact of executives implicated in fraud on firms' investment decisions using AAERs in the US, aiming to address the underexplored aspect of rationalization within the fraud triangle. Executives implicated in fraud often display abnormal attitudes to justify accounting irregularities, prompting an investigation into how abnormal investment decisions are used for rationalizing fraud, given their critical role in a firm's long-term sustainability. Analysis of AAERs spanning from 1981 to 2013 reveals that implicated executives, particularly CEOs and CFOs, tend to make abnormal investment decisions, and that collusive fraud exacerbates this behavior. Notably, such executives lean towards overinvestment, particularly in R&amp;D expenditures, to hide or justify fraud; the duration of fraud amplifies its impact on investment decisions. By shedding light on the rationalization aspect of the fraud triangle, this research contributes valuable insights for investors, regulators, and academia emphasizing the significance of public disclosure of fraud to enhance transparency in capital markets and the importance of ethics-focused education in accounting to prevent corporate fraud.

We seek to examine effective collaboration when engaging in value cocreation with the customer for mobile financial services in EMs. Our study is a motivation for multi-stakeholder engagement in value cocreation with financial inclusion of all consumers including marginalized populations. Furthermore, our work discovers that social sustainability is a product of social creativity and results in financial inclusion. We apply a qualitative descriptive methodology utilizing exemplars from extant research and phenomenology to analyze the data from the contexts of Ghana and Kenya. The results show that value is co-created for mobile financial services in networks in emerging markets when actors integrate resources for social and environmental sustainability as essential elements for mobile financial inclusion.

This study investigates the impact of financial integration on international dynamics from the perspective of volatility shocks. To achieve this, I employ an IRBC model with time-varying volatilities, recursive preferences, and a global bank. The model demonstrates that volatility shocks trigger precautionary saving incentives, but the specific effects vary based on the type of shock. In the presence of productivity volatilities, countries with a higher level of financial integration exhibit greater divergence in their business cycles, while financial integration tends to result in more synchronized business cycles in the face of financial volatilities. Disregarding volatility shocks would underestimate the impact of financial integration on the comovement of business cycles across countries. Furthermore, welfare analysis also indicates that financial markets play a crucial role in enhancing social welfare, regardless of the type of volatility.

The study's motivation is to gauge the nexus between economic policy uncertainty and financial innovation for the period 2004M1 to 2018M12 in BRIC nations. For establishing a long-run cointegration study applied Autoregressive Distributed Lagged (ARDL) and asymmetry effects of economic policy uncertainty investigated following nonlinear framework known as NARDL. Furthermore, directional causality is established by performing a non-granger causality test. Cointegration test results of Fpss, Wpss, and tBDM confirmed the long-run association between EPU and financial innovation. On the other hand, the Wald test results proved asymmetry effects furring from EPU to financial innovation both in the long-run and short-run. Referring to asymmetry effects that positive and negative shocks in financial innovation, the study revealed that negative linkage between shocks in EPU and financial innovation in the long-run but short-run effects are insignificant. Furthermore, financial innovation measured by R&D investment exhibits positive linked with shocks in EPU, implying that uncertainty induces innovation in the economy. Refers to directional causality estimation, the study revealed evidence supporting the feedback hypothesis between EPU and financial innovation in all sample countries.

An application of deep convolutional neural network and recurrence plot for financial market movement prediction is presented. Though it is challenging and subjective to interpret its information, the pattern formed by a recurrence plot provide a useful insight into the dy- namical system. We used a recurrence plot of seven financial time series to train a deep neural network for financial market movement predic- tion. Our approach is tested on our dataset and achieved an average of 53.25% classification accuracy. The result suggests that a well trained deep convolutional neural network can learn a recurrence plot and pre- dict a financial market direction.