Evaluation of credit risk based on firm performance

This paper investigates whether productive inefficiency measured as the distance from the industry’s ‘best practice’ frontier is an important ex-ante predictor of business failure. We use samples of French textiles, wood and paper products, computers and R&D companies to obtain efficiency estimates for individual firms in each industry. These efficiency measures are derived from a directional technology distance function constructed empirically using non-parametric data envelopment analysis (DEA) methods. Estimating binary and ordered logit regression models we find that productive efficiency has significant explanatory power in predicting the likelihood of default over and above the effect of standard financial indicators.     

Nanoporous gold thin films synthesised via de-alloying of Au-based nanoglass for highly active SERS substrates

Nanoporous gold thin films have been fabricated through chemical de-alloying of Au-based nanoglass with a nanocolumnar structure, with composition Au₄₀Cu₂₈Ag₇Pd₅Si₂₀ (at.%), that had previously been deposited by magnetron sputtering. By varying the de-alloying conditions, gold ligaments ranging from 20 to 100?nm were obtained. The microstructure and chemical composition of the as-prepared films were characterised by various techniques. Surface-enhanced Raman scattering (SERS) of thin films was investigated using rhodamine 6G. The results indicate that the main microstructural features with interconnected ligaments and defects of nanoporous gold result in significant SERS enhancement.     

Tuning the Reactivities of the Heteronuclear [AlnV3−nO7−n]+ (n=1, 2) Cluster Oxides towards Methane by Varying the Composition of the Metal Centers

The thermal gas-phase reactions of [Al₂VO₅]⁺ and [AlV₂O₆]⁺ with methane have been explored by using Fourier transform ion cyclotron resonance (FT-ICR) mass spectrometry complemented by high-level quantum chemical calculations. Both cluster ions chemisorbed methane as the major reaction channels at room temperature. [Al₂VO₅]⁺ could break only one C−H bond to liberate CH₃, whereas [AlV₂O₆]⁺ exhibited higher oxidizing ability such that it brings about the selective generation of formaldehyde. Mechanistic aspects are revealed and the crucial roles of the metal centers are discussed.     

Aromatic and Antiaromatic Pathways in Triphyrin(2.1.1) Annelated with Benzo[b]heterocycles

Understanding of the aromatic properties and magnetically induced current densities of highly conjugated chromophores is important when designing molecules with strongly delocalized electronic structure. Linear extension of the triphyrin(2.1.1) skeleton with an annelated benzo[b]heterocycle fragment modifies the aromatic character by extending the electron delocalization pathway. Two-electron reduction leads to an antiaromatic triphyrin(2.1.1) ring and an aromatic benzo[b]heterocycle subunit. Current-density calculations provide detailed information about the observed pathways and their strengths.     

Acoustic waveguide filters made up of rigid stacked materials with elastic joints

Meccanica - The acoustic dispersion properties of monodimensional waveguide filters can be assessed by means of the simple prototypical mechanical system made of an infinite stack of periodic...     

A new methodology for the determination of silicon in plants by wavelength dispersive X-ray fluorescence

Silicon is an important element for plants at their structure and physiology and plays an important role in bone mineralization and soft tissue development in human beings. Furthermore, its determination is being requested more frequently due to nutritional requirements. However, the methods found in the literature to determine silicon in this type of samples require a sample preparation step, which makes them time-consuming and provides high uncertainties. In this paper, a method for the determination of silicon in plants by wavelength dispersive X-ray fluorescence (WD-XRF) spectrometry has been developed. Horsetail (Equisetum arvense L.) and nettle leaf (Urtica dioica) have been used as a source of silicon due to its medical use. Sample preparation involved calcining the sample at 700°C and preparing fused beads from the calcined sample. Calibration standards for WD-XRF measurement were prepared by mixing certified reference materials and chemical products to reproduce the samples matrix. The linear range for silicon concentration ranges from 6 to 55 wt% SiO₂. The validation of the method was performed measuring a reference material (NCS DC73349 Bush branches and leaves) and comparing the results obtained by WD-XRF with those obtained by an independent method by atomic absorption spectrometry. The developed methodology is rapid and accurate, provides low uncertainties, and is environmentally friendly, as it does require the use of less hazardous reagents.