Search

Municipal waste management system modeling based on the mass balance of individual waste streams allows us to answer the question of how the system will react to organizational changes, e.g., to the expected reduction in the amount of plastics or the introduction of a deposit for glass and/or plastic packaging. Based on the data on Polish municipal solid waste and the forecast of changes in its quantity and composition, as well as demographic data, a balance model was prepared to assess the impact of introducing higher and higher levels of recycling, in accordance with the circular economy assumptions on the waste management system. It has been shown that, for the Polish composition of municipal waste, even if the assumed recycling levels of individual streams are achieved, achieving the general target level of 65% recycling in 2025/30 may not be feasible. The possibility of achieving a higher level of recycling will be possible due the introduction of selective ash collection from individual home furnaces, while the impact of reducing the amount of plastics or introducing a deposit on packaging is minimal. The calculations also showed that, to complete the waste management system in Poland, we need at least 3.5 million Mg/year of incineration processing capacity and the present state (approx. 1.3 million Mg/year) is insufficient.

Site investigation plays a critical role in underground space development and geotechnical engineering practice, and it aims at collecting data for characterization of subsurface soil properties and stratification, which are often simplified as a two-dimensional (2D) vertical cross-section for subsequent geotechnical design and analysis in practice. In-situ tests, such as cone penetration tests (CPT), are often performed during site investigation. Existing tunneling or geotechnical guidelines or design codes only provide conceptual principle for determination of CPT quantity (e.g., accuracy of site investigation improves as the CPT quantity increases) and recommend some rule-of-thumb minimal quantities (e.g., at least one CPT every 100 m). No rational method is available to determine the minimal CPT quantity for achieving a target level of accuracy in an objective and quantitative manner. This paper aims to develop a rational method for addressing this issue. The method developed is based on an extensive parametric study that uses random field simulation to cover typical CPT data encountered in geotechnical engineering practice and Bayesian compressive sampling to interpolate the spatially varying, but correlated, CPT data along both depth and horizontal directions simultaneously. The proposed method is illustrated and validated using real CPT data, and it is shown to perform well.

Universal, ambitious, and arguably ambiguous, the UN’s Sustainable Development Goals (SDG) are difficult to measure, monitor, prioritize and achieve. They are a multi-dimensional construct of economic, social and environmental indicators that work through complex interlinkages. We investigate these interlinkages at the SDG target level to identify the trade-offs and synergies between the SDGs. Second, we identify the community of interlinked SDG targets to determine if the SDGs can be benchmarked and prioritized for different regions. Employing network analysis approach the analysis is based on the IAEG-SDG data for the period 2000–2017. We find several positive and negative interlinkages (reinforcing and balancing feedbacks) between the SDG targets. The trade-offs, however, are much weaker than the synergies. Analyzing network structures for different regions, our results suggest that universal benchmarking of SDGs is counterproductive. We argue that it may be useful to identify a specific community of SDG targets, and use them as a guide to prioritize certain goals in different regions.

One of the major developments in seismic design over the past few decades is the increased emphasis for limit states design now generally termed as Performance Based Engineering. Performance Based Seismic Design (PBSD) uses Displacement Based Design (DBD) methodology wherein structures are designed for a target level of displacement rather than Force Based Design (FBD) methodology where force or strength aspect is being used. Indian codes still follow FBD methodology compared to other modern codes like CalTrans, which follow DBD methodology. Hence in the present study, a detailed review of the two most common design methodologies i.e., FBD and DBD is presented. A critical evaluation of both these methodologies by comparing the seismic performance of bridge models designed using them highlight the importance of adopting DBD techniques in Indian Standards also. The inherent discrepancy associated with FBD in achieving ´seismic regularity´ is highlighted by assessing the seismic performance of bridges with varied relative height ratios. The study also encompasses a brief comparison of the seismic design and detailing provisions of IRC 112 (2011), IRC 21 (2000), AASHTO LRFD (2012) and CalTrans (2013) to evaluate the discrepancies on the same in the Indian Standards. Based on the seismic performance evaluation and literature review a need for increasing the minimum longitudinal reinforcement percentage stipulated by IRC 112 (2011) for bridge columns is found necessary.

Decrease of blood pressure (BP) and its maintenance on target level is the main factor for cardiovascular mortality and morbidity reduction in hypertensive patients. For effective BP decrease most patients need combination therapy. The article is focused on benefits and adverse events of some combinations. In details an issue considered, on the combination of beta-blocker and renin-angiotensine-aldosteron system blocker, which, by the data from Russian observational programs, is the leader among two-component combinations. R

This article provides an overview of the recent modelling results on Russia's GHG emission trends, and reviews the success of mitigation policies in order to establish whether Russia's domestic target seems feasible. Various Russian GHG emission scenarios indicate that Russia's domestic target – emissions 25% below the 1990 level by 2020 – is not far from the business-as-usual emissions trajectory. In particular, two factors could deliver the required emissions reductions: the currently declining gross domestic product (GDP) growth and ongoing domestic mitigation policies. The former is more likely to secure the target level of emissions, because GDP growth has been contracting significantly in comparison to earlier forecasts of 3–5% annual growth, and this trend is expected to continue. The latter option – success with domestic mitigation measures – seems less likely, given the various meta-barriers to policy implementation, and the marginality of mitigation policies, problems with law-making processes, ...

We have devised new bolt fasteners based on an innovative double thread mechanism composed of a coarse single thread and coarse multiple threads (called DTB-II). In order to improve the rolling formability and the strength, the screw-thread of the DTB-II was fundamentally modified in this study. The number of multiple threads was reduced by one from the 3thread DTB-II (called 3-1thread DTB-II). The FEM thread rolling simulations were first performed using dedicated dies having a groove that followed the same outline as the thread profile of the modified DTB-II. The 3-1thread DTB-II was rolled precisely and the thread heights completely reached the target level at any cross-section, and the difference in the rolled filling rate remarkably decreased due to the material flow in the circumferential direction. The equivalent plastic strain was intensively high at the groove bottom where a coarse single thread was traversed by bottom of multiple threads, that might cause some surface defects. The actual forming states in the thread rolling experiments well reproduced the FE-simulation results. The performance evaluation tests show that the 3-1thread DTB-II with the double nut structure has a practically sufficient tensile strength and its anti-loosening performance clearly exceeds that of the conventional DTB-I composed of a coarse-single thread and a fine-single thread.

This article is devoted to contemporary approaches on statins and non-statin lipid-lowering drugs using according to authoritative Recommendations 2015-2016. Both approaches for cardiovascular risk levels estimation with life-style changes intervention, target level of lipid profile’s parameters and characteristics of statins and non-statin hypolipidemic drugs using for dyslipidemia control in different patient’s categories including children, women, oldest, patients with diabetes mellitus, chronic kidney disease, acute coronary syndrome and post- invasive intracoronary procedures, atherosclerosis-associated peripheral arteries disease are presented. The system literature search is performed on Scopus databases, Web of Science, MedLine, elibrary, RISC and other.

Accounting for the stochastic nature of environmental outcomes when quantifying economic environmental trade-offs with mathematical programming models requires the use of probabilistic programming approaches like the upper partial moment (UPM) method. Application of the UPM model may result in overregulation and losses in farm profit because the probabilistic constraint is satisfied at a higher level than the specified compliance probability, resulting in conservative responses from polluters. The main objective of this article was to present the upper frequency method as an alternative to enforce a probabilistic constraint with a close bound to the actual compliance probability. The UFM uses binary variables in a linear programming framework to enforce the probability bound on an empirically distributed outcome variable. Results showed that the UPM model was very conservative in the estimation of the upper probability bound, which resulted in an overestimation of abatement costs and an underestimation of the average amount of pollution above the environmental goal. Inconsistencies also exist between the ranking of alternatives when comparing the UPM and UFM methods. The UFM is general enough to ensure that the technique can be applied to any problem where the researcher is concerned with the risk of exceeding a specified target level.

This paper estimates the conduct of open market operations during the week prior to a change in the federal funds target rate over 1994–2005. The paper finds evidence that the Federal Reserve conducted either no or partial accommodation most of the time when target changes were plus/minus 25 basis points, whereas it conducted anti-accommodation when target changes were plus/minus 50 basis points or larger. Observed, and well-documented, movements of the federal funds rate—away from the existing target level and toward an expected new target level during the week prior to a target change—are consistent with these open market operations. An exception is the 1994–2001 period during which the Federal Reserve most likely conducted complete accommodation, thereby keeping the federal funds rate at the existing target, when target changes were minus 25 basis points.

Specification of target reliability levels is one of the key issues of the assessment of existing structures. ISO 13822:2010 and ISO 2394:2015 indicate procedures for specification of target reliability levels by optimisation of the total cost related to an assumed remaining working life of a structure. These approaches are critically compared with human safety criteria, with target levels based on a marginal life-saving costs principle, and with recommendations of present standards. Optimal target reliability levels are then derived in the representative case study for an existing structural member. It appears that the requirement to reach the same target reliability levels for existing and new structures is uneconomical. Decisions made in the assessment can result in the acceptance of the actual state or in the upgrade of an existing structure. Two reliability levels are thus needed – the minimum level below which the structure is unreliable and should be upgraded, and the target level indicatin...

State regulators in Florida recently approved a first-of-its-kind probabilistic risk assessment (PRA) for determining an alternative residential Soil Cleanup Target Level (SCTL) for dioxin (32 ng/kg TEQ). The default residential SCTL (7 ng/kg TEQ) is based on a single, deterministic calculation with numerous conservative assumptions, resulting in an overly conservative value far beyond the regulatory mandate (i.e., 10−6 increase in cancer risk). Conversely, this PRA used a Monte Carlo simulation to estimate risk for all members of a large population using a combination of scientific data and professional judgment, with final details developed during negotiations with regulators. The simulation parameters were defined probabilistically and reflect the ranges of values for the following exposure variables: body weight, exposure duration, exposure frequency, fraction from contaminated source, soil ingestion rate, and relative bioavailability. Other variable and uncertain parameters were treated deter...

The study is one of the priority points of the Russian Scientific Medical Society of Internal Medicine, initiated due to known high average level of LDL cholesterol in Russian population and necessity for its optimized control by better access to treatment. AIM To conduct comparative analysis of efficacy and safety of the rosuvastatin compound akorta and original rosuvastatin crestor. MATERIAL AND METHODS To randomized crossover study (PARITET) 60 patients were included with the diagnosis dyslipidemia. Total duration of treatment phase was 14 weeks - two times by 7 weeks, when the drugs were crossed, separated by 4 weeks washout. Main endpoints were the rate of low density lipoprotein cholesterol (LDL-C) decrease comparing to baseline, and reach of LDL-C guidelines-based target level. RESULTS After the first 7-week treatment the rate of decrease in akorta group was 49.0+/-15.6%, in crestor 52.6+/-17.4% (p=0.606). After the second period, in respective groups prescription of crestor led to LDL-C decrease by 43.4+/-17.9%, akorta - by 47.2+/-16.3% (p=0.724). After the first period of treatment the value of target levels reach did not differ significantly (akorta - 70.0%, crestor - 83.3%; p>0.05). After the second period in the group crestor-akorta the value was significantly better than in akorta-crestor group (60.0% and 83.3%; p

BACKGROUND: Replacement therapy with von Willebrand factor (VWF)/factor VIII (FVIII) concentrates represents an effective approach for patients with von Willebrand disease (VWD) who are unresponsive to desmopressin. However, various concentrates are available, with heterogeneous VWF content and VWF/FVIII ratio.AIM: To compare the costs associated to the replacement therapy with VWF/FVIII concentrates in Italy.METHODS: A cost-minimization analysis was performed to compare the pharmaceutical costs per patient of alternatives available for replacement therapy of VWD in the prospective of the Italian National Health Service. For each alternative the analysis calculated the number of vials, and relative costs, required to reach the target levels of VWF:RCo in patients who undergone to major surgery, minor surgery, spontaneous bleeding and prophylaxis.RESULTS: Haemate P® is associated with the lowest FVIII dosage, numbers of vials used and costs in all the clinical situations and at all the dosages considered. With Haemate P® the average costs in major surgery, minor surgery, spontaneous bleeding, and prophylaxis was € 710.94, € 592.45, € 473.96, and € 592.45, respectively. While the costs associated to Fanhdi®, Wilate®, and Wilfactin® was: € 1,309.28, € 1,071.23, € 952.20, and € 1,190.25; € 1,512.45, € 1,344.40, € 1,176.35, and € 1,344.40; € 3,814.09, € 3,269.22, € 3,269.22, and € 3,814.09.CONCLUSIONS: Treatment with Haemate P®, which presents a low FVIII content, allows to reach the target level of VWF:RCo with a lower number of vials and lower costs for the NHS.[Article in Italian]

We fit an empirical structural model of forward looking government savings behavior to data from the U.S. state Unemployment Insurance (UI) programs 1976–2008. States increase benefits or lower taxes when Unemployment Trust fund balances are high, consistent with a desired target level of savings. This can be explained by the representative state program behaving like a Carroll (1992) buffer-stock consumer who trades off a desire to expend savings (impatience) against the fear of running out of funds (risk aversion). We calibrate the model to the data and find that statistics from model simulations match similar statistics produced from the data for reasonable levels of risk aversion and impatience.

In the standard emission problem, each country's ruling party decides on an optimal level of emissions by analyzing the cost and benefit to the country. However, such policy decisions are often influenced by political parties' incentives to be elected. Voters tend to give higher priority to economic issues than they do to environmental ones. As a result, political parties have additional incentives to reach a critical economic benefit level, at a cost of higher emission level, in order to satisfy voters' expectations in economic issues. Therefore, this study explores the implications of political parties being averse to insufficient economic performance relative to a critical economic target level on sustaining an international environmental agreement on emission levels. In doing so, we allow countries to have asymmetric concerns about economic targets, as well as asymmetric technology levels. We find that stronger concerns about economic targets deter the most cooperative emission levels countries could jointly sustain. Furthermore, technological asymmetry could either deepen or offset this impact. These results suggest that efforts on achieving substantial international environmental agreements should be supported at the citizen level to eliminate the adverse effects.

This article examines the evidence for and against establishing a target level of docosahexaenoic acid (DHA) in breast milk.Two target levels for milk DHA have been recently proposed. One (∼0.3% of milk fatty acids) was based on milk DHA levels achieved in women consuming the amount of DHA recommended by the American Academy of Pediatrics for pregnant and lactating women (at least 200 mg DHA/day). Another (∼1.0%) was based on biomarker studies of populations with differing lifelong intakes of fish. Populations or research cohorts with milk DHA levels of 1.0% are associated with intakes that allow both the mother and infant to maintain relatively high DHA levels throughout lactation. Lower milk DHA levels may signal suboptimal maternal stores and possibly suboptimal infant intakes.Based on the current data, a reasonable milk DHA target appears to be approximately 0.3%, which is about the worldwide average. Although this may not be the 'optimal' level (which remains to be defined), it is clearly an improvement over the currently low milk DHA levels (∼0.2%) seen in many Western populations.

The paper gives the data available in the literature on the role of a level of elevated lipoprotein (a) (Lp (a)) in the development of ischemic stroke and other cardiovascular diseases. It shows the normal level of Lp (a) and the typical distribution of its concentration for people of European origin and representatives of other races. There is evidence on the genetic determination and variability of the Apo (a) gene. The paper presents the results of the recent large survey of 8000 patients with coronary heart disease and 8000 control persons, which has studied candidate genes for cardiovascular diseases. It indicates the role of Lp (a) as a risk factor for early atherosclerosis and describes main pathomorphological mechanisms. The propositions that it is necessary to screen Lp (a) in different risk groups, its target level, and possible methods for correcting the elevated Lp (a) level are given.

Introduction: Intracranial hemorrhage in inherited bleeding disorders is a medical emergency. The location of bleeding in most children is subdural and the most common cause is hemophilia. Although intracranial bleeding that occurs in people with hemophilia ranges from less than 5% of events, it is a life-threatening medical emergency so appropriate treatment is needed. Case Report: A boy patient 11 years old, 20kg weights have a seizure at home and followed by a decrease in consciousness. It was founded abnormalities in the form of anemia, prolonged FH (PPT 4x and APTT 4x), and hypocalcemia. The patient then was given main therapy; FVIII 100 IU/dL according to the FVIII target level calculated. The therapy continued with 500IU/12 hours according to the daily target of FVIII 50IU/dL. Discussion: The patient’s condition was getting better day by day. The patient’s consciousness started to improve after 14 days of postoperative. One month after that, the patient received koate treatment as the episodic handler. Diagnosing the exact cause in patients who have intracranial hemorrhage provides appropriate management so that the patients could be helped. Conclusion: Good collaboration between anesthesiologists, neurosurgeons, and pediatrics will increase the probability of successful management of critical bleeding without major sequelae.

There is a growing retirement crisis and most of the focus has been on the fact that individuals are not saving enough for retirement, may not have access to pension schemes, or are financially illiterate. More critically, assets/financial products available to investors, may not be appropriate for the typical individual saving for retirement. The goal of retirement is to try to guarantee a target level of income ideally from retirement till death. Current glide path products shift from stocks to bonds based on one’s age, and this is unlikely to achieve the goal of a secure retirement income for two reasons: traditional bonds are not safe and the glide path is goal-independent. A new bond (SeLFIES) has been proposed as the safe asset for the goal of retirement income. This paper (i) addresses the second issue of glide-path products and tests a simple rule we call GLIDeS: Goal-based, Lifetime Income-focused, Dynamic Strategy that allocates between Equities and SeLFIES based on a retirement income goal; (ii) shows how GLIDeS could dominate standard portfolio choices (60/40, TDFs etc.), along with holding SeLFIES in isolation; (iii) introduces a new way to think about intermediate retirement targets to ensure one is on a safe path to retirement; and (iv) explores implications for level of savings required to achieve a retirement goal. The paper uses historical and Monte-Carlo simulation for reasonable future equity, interest rate and inflation scenarios, and concludes with how the choice of dynamic strategy is influenced by one’s savings rate, replacement rate, risk aversion and outlook on interest rate and risky assets.

Summary Over the last ten years, full-waveform inversion (FWI) has become established as an integral part of earth model building (EMB) workflows. Recently, the industry witnessed the introduction of many types of FWI, differing either by the portion of the wavefield used in the inversion or by the nature of the objective function. Among these methods, reflection full-waveform inversion (RFWI) can utilize reflection data to build smooth velocity updates that reach beyond the penetration depth of refractions that are used in conventional FWI. Due to the limited opening angle of subsalt illumination, RFWI becomes more and more popular to update velocity models in the subsalt zone. In this case study in the Santos Basin, we discuss RFWI strategies and results, in which the pre-salt target level image has a better quality and continuity after being migrated with a moredetailed model created using a comprehensive EMB workflow that includes common image point tomography and conventional least-squares FWI for the post-salt, CIP tomography and RFWI for the salt and pre-salt. From the various existing RFWI strategies, we adopted Born modelling to generate reflections and a traveltime-based adjustive objective function, and then form the gradient with a combination of crosscorrelation between forward or backward and source or scattered wavefield. This approach will be validated with quality controls in both the shot and image domains. The updated model along with its updated image generate modelled shots that are more consistent with observed data, and the updated image is more geologically plausible with stronger focusing and continuous events.

The efficient and safe introduction of Remotely Piloted Aircraft System (RPAS) in non-segregated airspace requires a thorough assessment of all operational elements. In this paper, we dealt with the safety problem that arises from the integration of RPAS jointly with conventional aircraft in non-segregated airspace. The authors propose a framework and methodology for airspace design and planning purposes based on a conflict-risk method. This method compares a target level of safety (base-scenario without RPAS) with the calculated level of safety (scenario with RPAS). Moreover, the framework proposes an in-depth assessment by identifying geometrical and operational factors that may affect conflict risk. These conflict-risk factors are critical for RPAS integration and must be assessed to detect relations between them and conflict risk. Moreover, we have performed a sensitivity analysis to assess how RPAS average speed affects conflict risk. A real air traffic volume is studied to characterise a conflict-risk indicator, and different permutations to the base-scenario study the RPAS integration all over airways. Results confirm the validity of the methodology for planning purposes and the viability of RPAS integration without a significant impact on safety but with several restrictions to the RPAS airway distribution.

Purpose In June 2018, the US Food and Drug Administration approved Prograf granules for pediatric solid-organ heart transplant without a US trial. This was due to concerns over compounding errors associated with pharmacy preparation of Prograf suspension for children who cannot swallow capsules. We reviewed our early experience converting children from Prograf suspension to granules to ensure safe transition practices. Methods All children transitioned from Prograf suspension to Prograf granules at a single center in 2019 were identified using pharmacy records. The starting dose for the transition from compounded liquid to granules was determined by using a one to one dosing conversion. The steady dose of Prograf pre and post conversion were compared, as was the time to reach a therapeutic level. Patients with modified target goals (e.g. secondary to infection) before or after conversion were excluded. Results Between January and September 2019, a total of 12 children were converted from Prograf suspension to Prograf granules of whom 9 met the inclusion criteria. Of these, the median age was 6.25 (IQR 4, 8) years, the median weight was 17 (15, 21) kg; 56% were female and 67% had prior congenital heart disease. Prior to conversion, the mean daily dose was 0.106 (SD 0.07) mg/kg. Following conversion, the mean daily dose was 0.112 (SD 0.08) mg/kg, a 15% increase on average. On average, 3 levels were obtained before a goal target level was achieved at a mean of 34 days after conversion. Conclusion Children transitioned from Prograf suspension to granules often required a dosing change to achieve the same target level on Prograf granules. The number of dose increases outnumbered dose decreases. Increasing the frequency of monitoring tacrolimus levels after conversion may help to foreshorten the period of time outside the goal range.

To understand the status of the radionuclides released during the Fukushima Dai-ichi Nuclear Power Plant accident, the 134Cs, 137Cs and 90Sr in the seawater in the public area of the northwest Pacific Ocean were analyzed in November–December 2012. The radioactivity of 134Cs, 137Cs and 90Sr decreased sharply from June 2011 to November–December 2012. The highest average values of 134Cs and 137Cs were found at a depth of 500 m, suggesting that 134Cs and 137Cs had been transported to a depth of 500 m or deeper by the end of 2012. Total inventories of 0.80 ± 0.20 pBq for 137Cs from the surface to a depth of 500 m and 0.07 ± 0.02 pBq for 90Sr from the surface to a depth of 100 m were obtained in the waters southeast of Fukushima. 134Cs was detectable in the Chinese exclusive economic zone, and the seawater quality was much lower than the target level for China.

We revisit command-and-control regulations and compare their efficiency, particularly an emission cap regulation that restricts total emissions and an emission intensity regulation that restricts emissions per unit of output under emission equivalence. We find that in both the most stringent target case, in which the target emissions level is close to zero, and the weakest target case, in which the target emissions level is close to business as usual, the emission intensity regulation yields greater welfare than does the emission cap regulation. However, in the moderate target cases, an emission cap regulation may be better in terms of welfare than an emission cap regulation because the emission intensity regulation causes over-production. Our results suggest that the efficiency of a policy measure depends on the target level of emissions.

This research is intended to find out the appropriate or not yet the application of the System of Internal Control of the Government in the Department of Industri and Trade of the North Sulawesi Province with Government Regulation No. 60 Year 2008 about Control Systems Government Intern, by way of identifying what became an obstacle in the process of implementation of the SPIP and any efforts being undertaken in dealing with the application of constraints of SPIP for increased levels of maturity of SPIP. The general the application of SPIP in Department of industry and trade of the North Sulawesi province were in accordance with government regulation No. 60 the year 2008 about SPIP. But, not to the achievement of the target level of 3 (three) maturity of SPIP in the Departmen of industry and trade shows that the application of SPIP still experience particular constraints. As for the constraints in the implementation of SPIP namely; 1) HR which is not yet competent, 2) lack of discipline, 3) evaluation activities, inadequate. Efforts are being made to overcome the constraints in the implementation of SPIP are: 1 HR development program through training of his own Office, 2) build effective communication, 3) build organizational commitment.Keywords: The System of Internal Control of the Government, The Level of Maturity of the Organization of the SPIP, Constraints and Efforts.

International audience; This paper proposes an effective approach for modelling and assessing the risks associated with unmanned aerial vehicles (UAVs) integrated into national airspace system (NAS). Two critical hazards with UAV operations are considered and analyzed, which are ground impacts and midair collisions. Threats to fatalities that result from the two hazards are the focus in the proposed method. In order to realize ground impact assessment, a multifactor risk model is designed by calculating system reliability required to meet a target level of safety for different UAV categories. Both fixed-wing and rotary-wing UAVs are taken into account under a real scenario that is further partitioned into different zones to make the evaluation more precise. Official territory and population data of the operation scenario are incorporated, as well as UAV self-properties. Casualty area of impacting debris can be obtained as well as the probability of fatal injuries on the ground. Sheltering factors are not neglected and defined as four types based on the real scenario. When midair collision fatality risk is estimated, a model of aircraft collisions based on the density of civil flight in different regions over Chinese airspace is proposed. In the model, a relative collision area and flying speed between UAVs and manned aircraft are constructed to calculate expected frequency of fatalities for each province correspondingly. Truthful data with different numbers of UAVs is incorporated in the model with the expected number of fatalities after a collision is included. Experimental simulations are made to evaluate the ground impacts and midair collisions when UAVs operate in the NAS.

A 26-year-old male patient with hypofibrinogenemia was scheduled to undergo tonsillectomy. Hypofibrinogenemia, defined as low plasma fibrinogen (Fbg) concentration, is a type of congenital Fbg deficiency and is a rare coagulopathy. Perioperative replenishment of Fbg is performed during minor surgeries, aimed at maintaining plasma Fbg concentrations of 50 mg/dL. In this case, failure to replenish Fbg during the postoperative period may have caused the postoperative hemorrhage. Considering the half-life of Fbg (3-4 days), the plasma Fbg concentration should be monitored for ≥6 postoperative days, aiming at a target level of 50 mg/dL during the postoperative period.

Radon, a naturally occurring radioactive gas generated underground by radioactive decay of nuclides contained in certain types of rocks, can concentrate inside buildings, where it poses the second-largest risk factor for lung cancer, after smoking. The highest concentrations of domestic radon in the UK occur in the south-western counties of Devon and Cornwall, but certain areas in Northamptonshire and surrounding counties in the English Midlands also have high levels. It has been shown that it is possible both to reduce the radon concentrations in existing houses and to build new homes with appropriate protection. Since 1999, the UK's Building Regulations have specified that all new homes should be built with a combined radon-proof/damp-proof membrane plus, in Radon Affected Areas, a sump under the building. However, the building regulations do not require that the radon level is measured once the house is built and so there is little information on the effectiveness of these measures. Builders generally do not mention radon, and when asked, just confirm that their houses are built to current standards. To better understand the efficacy or otherwise of the currently mandated radon-protection measures, a cross-sectional investigation was carried out in 26 new housing developments in high-radon areas in Northamptonshire. In a targeted mail-shot, 1056 householders were invited to apply for a free radon test; 124 replied (11.7%). In total, 94 pairs of detectors were returned (70.1% of responders), of which two were spoiled, giving a total of 92 results. Following processing and seasonal correction, the arithmetic mean radon concentration in the target houses was 45% of the arithmetic mean radon concentration in existing houses in the postcode sectors where the houses were built and were approximately log-normally distributed. No results exceeded the UK Action Level of 200 Bq. m-3 but three were above the Target Level of 100 Bq. m-3. The results suggest that the radon-proof membranes in general ensure that radon concentrations in new homes constructed in accordance with the Building Regulations in Radon Affected Areas (RAAs) are satisfactorily low. However, there is a very small statistical probability that levels in a small number of homes will be close to or above the Action Level, particularly in areas of high radon potential. As a result, the Public Health England (PHE) recommendation for testing in the first year of occupation should be adopted as a legal requirement.

Background: Measurement of serum drug levels can help clinicians tailor treatment with TNF-inhibitors. An association between certolizumab pegol (CP) serum levels and treatment response in rheumatoid arthritis (RA) patients (pts) has previously been demonstrated in a prospective observational study (1). These results need to be confirmed in other studies, with particular focus on finding an optimal therapeutic serum level for CP. Objectives: To examine the association between serum CP drug levels and treatment response in RA pts and to identify a therapeutic target level. Methods: Patients with a clinical diagnosis of RA starting standard treatment with CP included in the NOR-DMARD registry with biobank sample at 3 months follow-up, were included in the present analyses. Serum drug levels (non-trough) were analysed with an in-house immunofluorometric assay automated on the AutoDELFIA immunoassay platform. We studied association between serum CP level and xDAS28 and EULAR good/moderate response at 3 months by multivariable linear and logistic regression analyses, respectively, adjusting for age, sex and prior bDMARD (Y/N). Results: In 91 included patients, median serum drug level at 3 months follow up was 34.7 mg/L (17.6–44.6). Response data were available in 81/91 patients. Serum CP level ≥20 mg/L was associated with greater improvement in DAS28 at 3 months (β=0.89 (95% CI 0.03–1.74), P=0.04. 44.4 % of pts with CP level Conclusions: Certolizumab serum levels ≥20 mg/L were associated with DAS28 improvement, but not significantly with EULAR response after 3 months treatment in RA pts. We suggest 20 mg/L as a lower target limit for non-trough CP samples in RA-patients. No additional benefit of having a certolizumab level over 40 mg/L was observed. Reference [1]Jani M, et al. AnnRheum Dis2017;76(1):208–13. Disclosure of Interest: J. E. Gehin Consultant for: Roche, S. Syversen Consultant for: Roche, D. Warren: None declared, G. Goll Consultant for: Abbvie, Biogen, Boehringer Ingelheim, Orion Pharma, Eli Lilly, Novartis, Pfizer, MSD, Roche, UCB, J. Sexton: None declared, E. Strand Consultant for: Pfizer, T. Kvien Consultant for: AbbVie, Biogen, BMS, Boehringer Ingelheim, Celgene, Celltrion, Eli Lilly, Epirus, Hospira, Merck-Serono, MSD, Mundipharma, Novartis, Oktal, Orion Pharma, Hospira/Pfizer, Roche, Sandoz, UCB, N. Bolstad Consultant for: Pfizer, Orion Pharma, Napp pharmaceuticals, Takeda, Roche, E. Lie: None declared

Posaconazole tablet formulation (PTF) was developed to optimise bioavailability. This study compared posaconazole levels between patients on the PTF and oral suspension formulation (OSF). We also examined factors that may impact posaconazole levels. The primary and secondary objectives were analysed by comparing trough levels and attainment of target level between the formulation groups. For the 86 patients on PTF and 176 on OSF, the mean first levels was 1.32 μg ml-1 (SD = 0.69) and 0.81 μg ml-1 (SD = 0.59), P < 0.0001 respectively. PTF group was more likely to achieve levels ≥0.7 μg ml-1 than OSF group (OR 7.97 [95 CI; 3.75-16.93], P < 0.0001). Levels from patients on PTF and with presence of acid suppression, GI GVHD, mucositis or diarrhoea were not statistically different from those without these factors. For PTF, no correlation was found between patient's weight (kg) and levels (R2 = 0.0536, P = 0.035). The incidences of elevation in ALT/AST or Tbili were similar between the formulation groups. In conclusion, PTF should be considered the preferred formulation because it demonstrated better absorption than the OSF. Patients on PTF for prophylaxis are more likely to attain target level and may not routinely require therapeutic drug monitoring during prophylaxis.

Aim. Clinico-economical analysis of arterial hypertension (HT) treatmentMaterial and methods. 78 patients with HT were involved into the study. Patients were spitted into two groups depending on HT degree. The first group – 38 patients with HT 1 degree. The second one – 40 patients with HT 2 degree. Patients of group 1 had initial antihypertensive therapy with angiotensinconverting enzyme inhibitors. If target level of blood pressure (BP) had not been reached, therapy was changed on fixed combination of lisinopril and hydrochlorothiazide. Patients of group 2 had initial combined antihypertensive therapy with lisinopril and hydrochlorothiazide. If it was needed amlodipine maleat was added. Clinico-economical analysis was performed according to “cost-efficacy” approach at the end of 3 month therapy.Results. About 50% of hypertensive patients do not follow physician recommendations in out-patient practice. They decrease a dose of medicine or stop therapy themselves. More than 6% of them perform self-treatment.Conclusion. Analysis showed that therapy of patients with HT of 1 degree is economically more profitable regarding target BP achievement. It is more reasonable to start antihypertensive therapy with fixed low dose combination and add calcium antagonists if it is needed in patients with HT of 2 degree.

Data on the length structure of exploited stocks are one of the easiest sources of information to obtain for data-poor fisheries, and have the potential to provide cost-effective solutions to the management of data-poor fisheries. However, incorporating the results from stock assessments into a formal harvest strategy, defined here as a harvest management system that incorporates monitoring, assessment, and decisions rules for a specific fishery, usually requires information on the total catch or catch-per-unit effort, data that are not available for many data-poor fisheries. This paper describes and tests a harvest strategy where only length composition data of the catch and knowledge of basic biological parameters are available. The harvest strategy uses a recently developed methodology for stock assessment that estimates the spawning potential ratio (SPR) for an exploited stock from the length structure of the catch (the length-based SPR model; LB-SPR), and uses an effort-based harvest control rule to iteratively drive fishing pressure towards a target level of SPR (40%). A management strategy evaluation framework was used to explore the behaviour of various parameterizations of the harvest control rule for three species with a diverse range of life-histories and M/k ratios ranging from 0.36 (unfished population dominated by large fish) to the Beverton-Holt invariant M/k of 1.5 (unfished population dominated by smaller fish). For all three species the harvest strategy was able to guide the fisheries towards the target SPR, although the time taken for the SPR to stabilise at the target SPR was greatest for the species with the greatest longevity and the lowest M/k. The results of this proof-of-concept study demonstrate that the combination of the LB-SPR assessment model with an iterative, effort-based harvest control rule can successfully rebuild an overfished stock back to sustainable levels or fish down a stock to the target SPR without significantly overshooting the target.

Aim. To analyze tactics of statins use in patients with high cardiovascular risk on the base of the PROFILE register data.Material and methods. Patients (n=274) who were enrolled into the PROFILE register from May, 1st till December, 31st, 2011 were divided into 3 groups: a control group (82 patients who sought medical care in the medical centre for the first time), the main group A (167 patients who were regularly followed-up in the medical centre) and the main group B (25 patients who stopped follow-up in the medical centre over 2 years ago). The incidence rates of statins use and lipid target level achievement, as well as safety of statin therapy were studied in the groups.Results. 25.6, 70.7 and 52% of patients received statins in control group, main group A, and main group B, respectively. Target levels (according to the clinical guidelines) of the low density cholesterol (LDC) had been reached in 26.3% of patients in the main group A. This characteristic was not valid in the patients of control and main group B because of small size of these groups. Achievement of target LDC level was observed more often in use of statins in moderate and high doses, use of the original drugs, and use of rosu- vastatin. Safety of statin therapy (aspartate and alanine transaminases, creatine kinase activity, and total bilirubin) was comparable in the groups of patients who reached or did not reach target LDC levels.Conclusion. High cardiovascular risk patients who were regularly followed-up in the specialized medical centre received statins therapy significantly more often. However statins use is often not correspond to the modern clinical guidelines.

Aim. To assess prescribing structure, efficacy and safety of antithrombotic therapy in in-patients with permanent atrial fibrillation (AF).Material and methods. Simple non-comparative retrospective descriptive one stage pharmacoepidemiological study was performed on the basis of analysis of 263 case histories of patients with permanent AF admitted to cardiology department of a general hospital.Results. All patients were stratified into three groups depending on the value of the index CHA2DS2-VASc. Antithrombotic therapy was evaluated in each group. 1% patients (n=3) had minimal stroke probability, so there was no need for antithrombotic therapy. 6% (n=15) patients with AF had 1 point according to CHA2DS2-VASc scale. Acetylsalicylic acid was prescribed to 0.7% of cases (n=2), warfarin – to 5% (n=12). High risk of thromboembolic complications (CHA2DS2-VASc≥2) was revealed in 93% patients (n=245), 65% (n=172) of them received warfarin.Conclusions. Antithrombotic therapy was administered for the vast majority of patients with AF (97.7%). Antiplatelet drugs were used in 25.4% of cases, including for patients with high risk of thromboembolic complications. Warfarin was prescribed in 70.3%. However, target level of hypocoagulation has been achieved in 51% patients only.

A model which describes tiller density dynamics in bahiagrass ( Paspalum notatum Flügge) swards has been developed. The model incorporates interrelationships between various morphogenetic and structural components of the sward and uses the inverse of the self-thinning rule as the standard relationship between tiller density and tiller weight (a density-size equilibrium) toward which tiller density progressively changes over time under varying nitrogen (N) rates, air temperature and season. Water and nutrient limitations were not considered except partial consideration of N. The model was calibrated against data from swards subjected to different N rates and cutting intensities, and further validated against data from a grazed sward and swards under different cutting intensities. As the calibration and validation results were satisfactory, the model was used as a tool to investigate the responses of tiller density to various combinations of defoliation frequencies and intensities. Simulations identified defoliation regimes required for stabilizing tiller density at an arbitrary target level, i.e. , sustainable use of the sward. For example, the model predicted that tiller density can be maintained at a medium level of about 4000 m −2 under conditions ranging from weekly cuttings to an 8 cm height to 8-weekly cuttings to 4 cm. More intense defoliation is needed for higher target tiller density and vice versa .

We explore the asymmetric behaviour of inflation around the target level for inflation-targeting countries. The first rationale behind this asymmetry is the asymmetric policy response of the central bank around the target. Central banks could have a stronger bias towards overshooting rather than undershooting the inflation target. Consequently, the policy response would be stronger once the inflation jumps above the target, compared to a negative deviation. Second rationale is the asymmetric inflation persistence. We suggest that recently developed Asymmetric Exponential Smooth Transition Autoregressive (AESTAR) model provides a convenient framework to capture the asymmetric behaviour of inflation driven by these two effects. We further conduct an out-of-sample forecasting exercise and show that the predictive power of AESTAR model for inflation is high for some countries in our sample, especially at long-horizons.

The current consensus is that, due to the free rider problem, a theory of charitable giving based exclusively on altruism cannot explain the levels of contributions and participation observed in the data. In contrast, in this paper we demonstrate that altruism may have more predictive power than previously understood. We present a model in which the object of altruism is a large number of potential recipients of a good for which there is a target level of provision (e.g. an acute malnutrition treatment, an insecticide-treated bed net). We show that in this case donors may measure the value of a contribution with reference to the impact that such contribution has on additional recipients, not with reference to the impact on the total level of an organization's charitable resources as traditionally assumed. In this situation, the equilibrium involves no free riding whatsoever. Equilibria that do involve free riding are characterized by provision of the target level of the charitable good to all potential recipients.

Konsekuensi dari penyakit-penyakit yang sering dialami oleh pekerja merupakan kerugian besar bagi perusahaan dan pekerja. Dalam rangka mengatasi persoalan penyakit pada pekerja, perlu upaya promosi kesehatan di tempat kerja, khususnya untuk mengubah perilaku. Penerapan perubahan perilaku di tempat kerja bersifat lebih kompleks. Perubahan perilaku tidak saja didorong oleh faktor-faktor individu, tetapi juga oleh peran faktor eksternal, sehingga pihak yang dijadikan sasaran workplace health promotion (WHP) adalah secara multilevel. Artikel ini menjelaskan rumusan model WHP multilevel yang dapat diterapkan untuk mengubah perilaku pekerja yang tidak sehat, sehingga diharapkan dapat menurunkan kesakitan dan kematian penyakit pada pekerja. Prinsip pemilihan model perubahan perilaku, perlu diperhatikan dalam merumuskan WHP secara multilevel. Hal ini dijadikan sebagai acuan memodifikasi perilaku yang akan dituju. Selanjutnya, prinsip memilih strategi dan metode perubahan perilaku, disesuaikan dengan level sasaran yang diintervensi. Secara keseluruhan, prinsip-prinsip ini dirumuskan dalam sebuah acuan program WHP secara komprehensif dan dilaksanakan dengan efektif dan efisien di tempat kerja. Artikel ini dapat menjadi acuan bagi pihak yang akan mengimplementasikan WHP dengan pendekatan perubahan perilaku secara multilevel.

This paper provides clear-cut evidence that the ECB follows an asymmetric monetary policy rule concerned more with inflation rather than sustaining economic growth. The driving force of interest rate cuts is the fall of the inflation rate below its target level. The paper evaluates the implications of the above policy on real activity by simulating a small New Keynesian model. This clearly indicates that the reaction of the ECB to negative output deviations and/or to financial stress conditions in the low inflation regime fails to reduce the adverse effects of negative demand and financial sector shocks on economic activity.

We use a global coupled chemistry–climate–land model (CESM) to assess the integrated effect of climate, emissions and land use changes on annual surface O[subscript 3] and PM[subscript 2.5] in the United States with a focus on national parks (NPs) and wilderness areas, using the RCP4.5 and RCP8.5 projections. We show that, when stringent domestic emission controls are applied, air quality is predicted to improve across the US, except surface O[subscript 3] over the western and central US under RCP8.5 conditions, where rising background ozone counteracts domestic emission reductions. Under the RCP4.5 scenario, surface O[subscript 3] is substantially reduced (about 5 ppb), with daily maximum 8 h averages below the primary US Environmental Protection Agency (EPA) National Ambient Air Quality Standards (NAAQS) of 75 ppb (and even 65 ppb) in all the NPs. PM[subscript 2.5] is significantly reduced in both scenarios (4 μg m[superscript −3]; ~50%), with levels below the annual US EPA NAAQS of 12 μg m[superscript −3] across all the NPs; visibility is also improved (10–15 dv; >75 km in visibility range), although some western US parks with Class I status (40–74 % of total sites in the US) are still above the 2050 planned target level to reach the goal of natural visibility conditions by 2064. We estimate that climate-driven increases in fire activity may dominate summertime PM2.5 over the western US, potentially offsetting the large PM2.5 reductions from domestic emission controls, and keeping visibility at present-day levels in many parks. Our study indicates that anthropogenic emission patterns will be important for air quality in 2050. However, climate and land use changes alone may lead to a substantial increase in surface O[subscript 3] (2–3 ppb) with important consequences for O[subscript 3] air quality and ecosystem degradation at the US NPs. Our study illustrates the need to consider the effects of changes in climate, vegetation, and fires in future air quality management and planning and emission policy making., United States. National Park Service (Grant H2370 094000/J2350103006), National Science Foundation (U.S.) (AGS-1238109), Joint Fire Science Program (13-1-01-4)

SUMMARY. The article is devoted to optimization the treatment of arterial hypertension among military personnel who had participated in the antiterrorist operation.The aim – to evaluate the effectiveness of the measures to optimize the treatment of arterial hypertension among the military personnel of the antiterrorist operation in the conditions of the day hospital of Outpatient Clinic Department at the National Military Medical Clinical Center «The Main Military Clinical Hospital» in 2016.Material and Methods. Bibliographical, information-analytical and system approach were used.Results and Discussion. By results of a research it is established that after the implementation of the integrated approach to treatment and rehabilitation among military personnel participating in the anti-terrorist operation with arterial hypertension, the target level of arterial pressure reached (82.1±4.3) %, statins were prescribed in (61.5±5.5) %, acetylsalicylic acid was given (96.2±2.2) % of patients. Complex rehabilitation included the use of non-drug therapies.Conclusions. The effectiveness of the integrated approach to the treatment and rehabilitation among military personnel who had participated in the antiterrorist operation with arterial hypertension and comorbid pathology, introduced in the day care center of Outpatient Clinic Department at the National Military Medical Clinical Center «The Main Military Clinical Hospital», has been proved, taking into account the provisions of the complex functional and organizational model of the prevention of cardiovascular diseases in servicemen of the Armed Forces of Ukraine.

Background The Government of Tanzania is the main source of long-lasting insecticidal nets (LLINs) for its population. Mosquito nets (treated and untreated) are also available in the commercial market. To sustain investments and health gains in the fight against malaria, it is important for the National Malaria Control Programme to monitor LLIN coverage especially in the years between mass distributions and to understand what households do if their free nets are deemed unusable. The aim of this paper was to assess standard LLIN indicators by wealth status in Tanzania in 2013, 2 years after the last mass campaign in 2011, and extend the analysis to untreated nets (UTNs) to investigate how households adapt when nets are not continuously distributed. Methods Between October–December 2013, a household survey was conducted in 3398 households in eight districts in Tanzania. Using the Roll Back Malaria indicators, the study analysed: (1) household net ownership; (2) access to nets; (3) population net use and (4) net use:access ratio. Outcomes were calculated for LLINs and UTNs. Results were analysed by socio-economic quintiles and by district. Results Only three of the eight districts had household LLIN ownership of more than 80%. In 2013, less than a quarter of the households had one LLIN for every two people and only half of the population had access to an LLIN. Only the wealthier quintiles increased their net ownership and access to levels above 80% through the addition of UTNs. Overall net use of the population was low (LLINs: 32.8%; UTNs: 9.5%) and net use:access ratio was below target level (LLINs: 0.66; UTN: 0.50). Both measures varied significantly by district. Conclusions Two years after the last mass campaign, the percentage of households or population with access to LLINs was low. These findings indicate the average rate at which households in Tanzania lose their nets is higher than the rate at which they acquire new nets. The wealthiest households topped up their household net ownership with UTNs. Efforts to make LLINs available through commercial markets should be promoted, so those who can afford to buy nets purchase LLINs rather than UTNs. Net use was low around 40% and mostly explained by lack of access to nets. However, the use:access ratio was poor in Mbozi and Kahama districts warranting further investigations to understand other barriers to net use. Electronic supplementary material The online version of this article (10.1186/s12936-018-2247-z) contains supplementary material, which is available to authorized users.

We investigate the optimal investment decision in renewables under market demand uncertainty, in the context of the Italian strategy for renewable deployment under the EU policy. The firm has to decide about the time and size of the investment. We find that a higher subsidy level induces the firm to invest earlier with a smaller investment capacity. This implies that a given environmental target cannot be reached by a too high (too low) subsidy level since this will cause the investment level to be too low (too late). We show that there exists an optimal (intermediate) subsidy level. Due to uncertain demand, in some cases ensuring to reach the environmental target in time requires an additional (conditional) subsidy. We propose a heuristic for policy makers stating when and how much subsidy to provide. Furthermore, we find that in a more uncertain economic environment the subsidy adjustment to maintain the target level of investment results in the firm investing earlier, which is opposite to the standard real options result. (C) 2019 Elsevier B.V. All rights reserved.

Hypoglycemia is one of the most important and most common metabolic problems of the newborn because it poses a risk of neurological injury, if it is prolonged and recurs. Therefore, newborns who carry a risk of hypoglycemia should be fed immediately after delivery and the blood glucose level should be measured with intervals of 2-3 hours from the 30th minute after feeding. The threshold value for hypoglycemia is 40 mg/dL for the first 24 hours in symptomatic babies. In asymptomatic babies, this value is considered 25 mg/dL for 0-4 hours, 35 mg/dl for 4-24 hours, 50 mg/dL after 24 hours and 60 mg/dL after 48 hours. Screening should be performed with bed-side test sticks. When values near the limit value are obtained, confirmation with laboratory method should be done and treatment should be initiated, if necessary. The level targeted with treatment is considered 50 mg/dL in the postnatal first 48 hours before feeding, 60 mg/dL after 48 hours in babies with high risk and above 70 mg/dL in babies with permanent hypoglycemia. In cases in which the blood glucose level is below the threshold value and can not be increased by feeding, a glucose infusion of 6-8 mg/kg/min should be initiated. If symptoms accompany, a mini bolus of 10% dextrose (2 ml/kg/min) should accompany. Incements (2 mg/kg/min) should be performed, if the target level can not be achieved and decrements (2 ml/kg/ min) should be performed, if nutrition and stabilization is provided. The infusion should be discontinued, if the infusion rate decreases to 3-5 mg/ kg/min. If necessary, blood samples should be obtained during hypoglycemia in terms of differential diagnosis and the investigation should be performed following a 6-hour fasting period in babies fed enterally and at any time when the plasma glucose is 60 mg/dL following a 6-hour fast. © 2018 by Turkish Pediatric Association.

The world has great expectations for how the private sector, both companies and investors, can support the 17 Sustainable Development Goals (SDGs). In fact, it is generally believed that these goals cannot be achieved without strong support from the private sector. But will making the world a better place hurt financial returns? The answer is “No” if companies focus on the SDGs and their associated targets that benefit from strong performance on the material environmental, social, and governance (ESG) issues that matter to investors. In this paper we map the 30 generic ESG issues identified by the Sustainability Accounting Standards Board (SASB) to the SDGs and their targets. We show that some SASB issues are more material for a given SDG than others. We also show that some SASB issues are more important to the SDGs in general than others. We also map the material ESG issues for each of SASB’s 79 industries to the SDGs and to their targets. For each sector, there are particular SDGs where it has high impact and for each SDG there are particular sectors that have a high impact on it, and some sectors are more important to the SDGs in aggregate than others. The same is true at the target level. This mapping can be used as a guide for both companies and investors who want to understand how value-creating ESG performance can contribute to the SDGs. This paper is divided into four parts. Part I explains the motivation for this study. Part II explains our methodology and Part III the results. Part IV concludes with a summary of our results and some reflections on how our mapping methodology can be improved.

Pairs trading involves two cointegrated securities. When divergence is underway, i.e., one stock moves up while the other moves down, a pairs trade is entered consisting of a short position in the outperforming stock and a long position in the underperforming one. Such a strategy bets the ``spread'' between the two would eventually converge. This paper is concerned with an optimal pairs-trade selling rule. In this paper, a difference of the pair is governed by a mean-reverting model. The trade will be closed whenever the difference reaches a target level or a cutloss limit. Given a fixed cutloss level, the objective is to determine the optimal target so as to maximize an overall return. This optimization problem is related to an optimal stopping problem as the cutloss level vanishes. Expected holding time and profit probability are also obtained. Numerical examples are reported to demonstrate the results.

This paper reports the results of an investigation of the effect of Working Capital Management (WCM) practices on profitability of Small and Medium Enterprises (SMEs) listed on the Alternative Investment Market (AIM), from the perspective of financial directors. Specifically, I look at their WCM target level practices, WCM alteration frequency and WCM strategy practices. The analyses are based on questionnaire distributed to 248 AIM listed SMEs. The paper employs OLS regression on responses from 72 managers of AIM listed SMEs. The results show that the perception of AIM listed SMEs managers regarding the WCM practices has an effect on profitability. However, the results show that given the limited resources of SMEs, the main focus of managers should be on the setting of specific target level for each component of WCM so as to increase profitability.