Changes of the Level of Liquidity in Time of the Financial Crisis： A Case of Polish Companies

The financial crisis undoubtedly exerted a pressure on the companies operating in Poland. Thus, it is important to undertake researches that reveal the paths and strength of the transmission of financial crisis with regard to the business entities. This paper presents partial results of the researches dedicated to the analysis of the impact of financial crisis on the financial situation of companies operating in Silesian Region in Poland. It analyses and discusses the general changes in the financial ratios that inform about the company＇s financial liquidity and the level of liquidity risk. As a research paper, it aims at justifying hypotheses about the changes of liquidity and liquidity risk in companies operating in Poland, Silesian Region within the period of 2006-2009. The tested hypotheses generally indicate the decrease of liquidity in the aftermath of crisis and a worse situation in the Silesian Region, as compared to the national level. The study is based on an application of a part of authors＇ self-developed method--the CFS Watch （Corporate Financial Situation Watch）, which consists of five analytical modules. In this study, one module is applied： the FLA Module （Financial Liquidity Analysis） with regard to financial liquidity and the level of liquidity risk. The research is based on the data collected by the Polish Central Statistical Office. The analysis of FLA Module is based on two samples of companies： companies operating in the Silesian Region （denoted as the MEPP sample）, and companies operating in Poland （denoted as the MAPP sample）. This allows developing a comparative analysis between regional and national dimension. The results of the study represent an interesting starting point for further comparative researches based on the analysis of the changes in the level of liquidity and liquidity risk of companies operating in different countries. It may form a base for finding similarities or differences in their financial situation in the aftermath of the financial crisis. The CFS Watch method in terms of the liquidity can be widely applied to make the results comparable.

HIGH-PERFORMANCE LIQUID CHROMATOGRAPHIC ANALYSIS OF KR-008 IN BIOLOGICAL FLUIDS

A high-performance liquid chromatographic method for the simultaneous determination of KR-008 and its metabolite in biological fluids was developed The samples were injected directly without further treatment,the compounds were separated and analysed on a reversed- phase column under isocratic conditions,including ion pairing.Concentrations in urine and bile were determined by an external standard method.The detection limit was 0.8μg/ml in urine.Preliminary data showed that,following i.p.administration(120mg/kg)of KR-008 to rats,approximately 2.8% of the dose was excreted in urine as unchanged compound and more than 8.9% was as a metabolite;in bile it was 0.73% excreted as unchanged form and above 0.29% as the metabolite.The peak biliary concentration of KR-008 was 0.39mg/ml at 20min after dosing.

A valid evaluation method for UPLC fingerprint analysis and moisture ratio prediction model:application to microwave vacuum drying of Radix isatidis extract

Background:Drying is a necessary component of traditional Chinese medicine extracts.The heating principle of microwave vacuum drying is different from that of the conventional heat method.However,at present,there is paucity of information on the drying process of traditional Chinese medicine extract by microwave vacuum drying,and the results of such process are unclear.Methods:To study the dynamic changes in the chemical characteristics of microwave vacuum drying under different drying conditions,ultrahigh-performance liquid chromatography fingerprint profiles were established using Radix isatidis extract as a model drug and analyzed using similarity analysis,partial least squares-discriminant analysis,and semi-quantitative analysis.In addition,a backpropagation artificial neural network model was developed to predict the moisture ratio of the drying process.Results:Qualitative results showed that the similarity between different drying conditions was greater than 0.95,and 2 amino acid components(peaks 5 and 6)affected by process fluctuations were screened out.The quantitative results showed that the mass concentration of component 1 fluctuated after drying,while that of component 2 increased.The optimal backpropagation artificial neural network model structure used to predict the moisture ratio was 5-4-1,with regression and mean squared error values of 0.996 and 0.0003,respectively,after training,which were well fitted and had a strong approximation ability.Conclusion:Upon comparison of fingerprints and the evaluation of statistical methods,common components of Radix isatidis extract had little variation under different drying conditions,and the selected components provided a reference for the establishment of process evaluation indexes.The establishment of backpropagation artificial neural network provides a theoretical basis for the application of microwave vacuum drying technology and online monitoring of moisture ratio.

Vibrational Spectroscopic Analysis of Borates in Mother Liquid of Brine after Potassium Separated

It is well known that boron exists as polyborate anions in aqueous solution.Boron atom can coordinates to three or four oxygen atoms and borate can exist as not only the monomer but also the polymer.The polymerization

Laser-induced plasma generated by a 532nm pulsed laser in bulk water:unexpected line-intensity variation with water temperature and the possible underlying physics

The effect of the matrix temperature on laser-induced plasma generated in bulk water by using a532 nm pulsed laser beam has been studied.Ca Ⅰ and Ⅱ emission line intensities were recorded for an aqueous solution of CaCl2 in the temperature range of 7℃-70℃.The emission line intensities did not follow the matrix temperature in our experiments.Maximum intensities were observed at ~18℃ for both lines.Herein,a possible mechanism responsible for the observed variation in intensity is suggested,in which laser-produced bubbles play important roles.Bubble formation is essential to ignite plasma in the liquid and more feasible at the higher liquid temperature.However,the abundant bubbles at the higher temperature can scatter the incident laser beam more effectively to decrease the energy delivered for the laser-induced plasma.Thus,these two roles have effects on the optical emission intensities in opposite ways.The validity of the suggested mechanism is discussed based on the plasma temperature,temperature dependence of the refractive index of water,plasma electron density,scattered light intensity,and plasma ignition threshold energy.Our result indicates that the temperature of the liquid is also an important parameter to be considered in the laser-induced breakdown spectroscopy analysis of bulk liquid samples and its application in deep-sea exploration.

Experimental research on breakup of 2D power law liquid film

On account of limited knowledge of the breakup of power law liquid film, the process of its disintegration and atomization was studied by using a planar liquid film. A linear stability analysis was adopted to predict the breakup characteristics of the power law film. The predicting formulas of stripping breakup length and diameter of ligament were put forward presently. Through high-speed photography and laser light sheet illumination,different breakup characteristics of flat power law film under different conditions were derived. The characteristic dimension of breakup regimes were defined and extracted. The effects of several parameters(injection pressure,ambient pressure, nozzle structure and fluid property) on the stripping breakup length and spray angle were investigated. The results revealed that increasing both the velocity of liquid film and the ambient pressure facilitated the breakup of film, reduced the stripping breakup length and enlarged the spray angle in different extents. The comparison between theoretical and experimental results was conducted to validate the feasibility of the linear stability theory.

COMPREHENSIVE TWO-DIMENSIONAL LIQUID CHROMATOGRAPHY COUPLED WITH QUADRUPLE TIME-OF-FLIGHT MASS SPECTROMETRY FOR CHEMICAL CONSTITUENTS ANALYSIS OF TRIPTERYGIUM GLYCOSIDES TABLETS

Comprehensive two-dimensional liquid chromatography platform(LC×LC)coupled with quadrupole time-of-flight(QTOF)mass spectrometry(MS)is developed to separate,identify and relatively determine the chemical constituents of two types of tripterygium glycosides tablets(TGT).The types and relative contents of the constituents discovered in two kinds of TGT tablets were subsequently compared.C8andC18 column were used for the separation of the first

Clean-DM1, a Korean Polyherbal Formula, Improves High Fat Diet-Induced Diabetic Symptoms in Mice by Regulating IRS/PI3K/AKT and AMPK Expressionsin Pancreas and Liver Tissues

Objective:To investigate the effects of Clean-DM1(C-DM1),a polyherbal formulation of Radix Scrophulariae,Radix Astragali,Rhizoma Atractylodis,and Radix Salviae Miltiorrhizae,on high-fat diet(HFD)-induced diabetes mice.Methods:The information about active components of C-DM1 extract and molecular mechanism was obtained from network pharmacology analysis.Main compounds of C-DM1 extract by high performance liquid chromatography-mass spectrometry(HPLC-MS)analysis were conducted for quality control.For in vivo study,mice were induced diabetes by HFD for 12 weeks.The mice in the normal group(Nor)were maintained with a regular diet and treated with saline by gavage.The HFD model mice were randomly divided into 3 groups,including a HFD diabetic model group,a C-DM1 extract-administered group(C-DM1,500 mg/kg),and metformin-administered groups(Met,500 mg/kg),8 mice in each group.Food intake,body weight(BW),and fasting blood glucose(FBG)levels were recorded weekly for 4 weeks.After 4 weeks of treatment,alanine aminotransferase(ALT),aspartate aminotransferase(AST),blood glucose,low-density lipoprotein cholesterol(LDL-C)were determined using an automated clinical chemistry analyzer,and homeostatic model for assessing insulin resistance(HOMA-IR)levels and oral glucose tolerance test(OGTT)were detected.The histopathological changes of liver and pancreatic tissues were observed by hematoxylin-eosin staining.Insulin receptor substrate(IRS)/phosphatidylinositol 3 kinase(PI3K)/protein kinase B(AKT)and adenosine 5'-monophosphate-activated protein kinase(AMPK)expressions in liver and pancreas tissues were detected by Western blot analysis.Results:HPLC-MS identified dihydroisotanshinone,dihydroisotanshinone I,cryptotanshinone,harpagoside,and atractyloside A in C-DM1 extract.The administration of C-DM1 extract significantly decreased body weight,calorie intake,and the levels of blood glucose and insulin in the diabetic mice(P<0.05 or P<0.01).The C-DM1 extract administration improved the impaired glucose tolerance and insulin resistance in the diabetic mice and significantly decreased the levels of LDL-C,ALT and AST(P<0.01).The C-DM1 extract inhibited the histopathological changes of fatty liver and hyperplasia of pancreatic islets in the diabetic mice.The C-DM1 extract significantly increased the phosphorylation of IRS,AKT,and AMPK and the expression of PI3K in pancreas and liver tissues(P<0.05 or P<0.01),which was consistent with the analysis results of network pharmacology.Conclusion:C-DM1 extract improved diabetes symptoms in longterm HFD-induced mice by regulation of IRS/PI3K/AKT and AMPK expressions in pancreas and liver tissues,suggesting that C-DM1 formulation may help prevent the progression of T2DM.

Phytochemical Estimation and Therapeutic Amelioration of Aesculus hippocastanum L. Seeds Ethanolic Extract in Gastric Ulcer in Rats Possibly by Inhibiting Prostaglandin Synthesis

Objective To quantify phytochemicals using liquid chromatography and mass spectroscopy(LCMS)analysis and explore the therapeutic effect of Aesculus hippocastanum L.(AH)seeds ethanolic extract against gastric ulcers in rats.Methods Preliminary phytochemical testing and LCMS analysis were performed according to standard methods.For treatment,the animals were divided into 7 groups including normal control,ulcer control,self-healing,AH seeds low and high doses,ranitidine and per se groups.Rats were orally administered with 10 mg/kg of indomethacin,excluding the normal control group(which received 1%carboxy methyl cellulose)and the per se group(received 200 mg/kg AH seeds extract).The test group rats were then given 2 doses of AH seeds extract(100 and 200 mg/kg,respectively),while the standard group was given ranitidine(50 mg/kg).On the 11th day,rats in all groups were sacrificed,and their stomach was isolated to calculate the ulcer index,and other parameters such as blood prostaglandin(PGE2),tissue superoxide dismutase(SOD),catalase(CAT),malonyldialdehyde(MDA),and glutathione(GSH).All isolated stomach tissues were analyzed for histopathological findings.Results The phytochemical examination shows that the AH seeds contain alkaloids,flavonoids,saponins,phenolic components,and glycosides.LCMS analysis confirms the presence of quercetin and rutin.The AH seeds extract showed significant improvement in gastric mucosa conditions after indomethacin-induced gastric lesions(P<0.01).Further marked improvement in blood PGE2 and antioxidant enzymes,SOD,CAT,MDA and GSH,were observed compared with self-healing and untreated ulcer-induced groups(P<0.01).Histopathology results confirmed that AH seeds extract improved the mucosal layer and gastric epithelial membrane in treated groups compared to untreated ulcer-induced groups.Conclusions LCMS report confirms the presence of quercetin and rutin in AH seeds ethanolic extract.The therapeutic effect of AH seeds extract against indomethacin-induced ulcer in rat model indicated the regenerated membrane integrity,with improved cellular functions and mucus thickness.Further,improved antioxidant enzyme level would help to reduce PGE2 biosynthesis.

Differentiation of Belamcandae Rhizoma and Iridis Tectori Rhizoma by Thin-Layer Chromatography and High-Performance Liquid Chromatography

Objective:Belamcandae Rhizoma and Iridis Tectori Rhizoma are easily confused with each other.The main objective of this study is to distinguish them using chemical analysis.Materials and Methods:Thin-layer chromatography(TLC)and high-performance liquid chromatography(HPLC)fingerprint methods were established to compare the chemical profile,while HPLC quantitation was used to determine the contents of three isoflavones in thirty batches of Belamcandae Rhizoma and Iridis Tectori Rhizoma samples.Results:The two herbs could be distinguished by TLC using acetic acid-n hexane-ethyl acetate(1:90:80 v/v/v)as the mobile phase,according to the fluorescent band under 366 nm at R_(f) 0.2.In total,12 compounds were identified in the 24-min HPLC fingerprint.The similarity coefficient between the two herbs was 0.54±0.01.Mangiferin(1),tectoridin(2),iridin(3),irigenin(5),irisflorentin(6),and iristectorin A(9)were the main peaks in Belamcandae Rhizoma,while tectoridin(2)and tectorigenin(4)were the major peaks in Iridis Tectori Rhizoma.The contents of 2 in Iridis Tectori Rhizoma(2.50±0.20%)were 8.93 times higher than that of Belamcandae Rhizoma(0.28±0.08%),while the ones of 5 and 6 were slightly lower in Iridis Tectori Rhizoma.Conclusions:The study established fast and effective methods to distinguish Belamcandae Rhizoma from Iridis Tectori Rhizoma.

A new technique helps to uncover unknown peptides and disinfection by-products in water

Environmental water samples can be extremely complex,with potentially thousands of molecules that can derive from natural organic matter（NOM）and thousands that derive from anthropogenic contaminants.As complex as these samples are,drinking water can be even more complex.Due to disinfectants that are used to treat drinking water（e.g.,chlorine,chloramines,

Effect of Juzentaihoto/Shi-Quan-Da-Bu-Tang on Malignant Progression and Metastasis of Tumor Cells

A Japanese herbal(Kampo,汉方)medicine,十全大补汤(juzentaihoto/Shi-Quan-Da-Bu-Tang),is one of the nourishing agents, a so-called"补剂(Hozai/Bu-Ji)," that is used for improving disturbance and imbalances in the homeostatic condition of the body. This formulation is orally administered to patients in various weakened states, including postsurgery patients and patients with chronic illness, where it can alleviate general symptoms such as extreme fatigue, pale complexion, loss of appetite, dry or scaly skin, night sweating, and dryness of the mouth.Recently, juzentaihoto/Shi-Quan-Da-Bu-Tang has been shown to have a variety of biological activities, including activation of natural killer cells and macrophages, cytokine induction, antibody production, antitumor effects in combination with surgical excision or other drugs, and protection against the adverse effects of anticancer drugs and radiation, including immunosuppression and bone marrow toxicity. This article focuses on the antitumor and antimetastatic properties of some Kampo medicines and mainly describes the effects of juzentaihoto and its related formulations on tumor development, progression, and metastasis in vivo. We also discuss the inhibitory mechanism of action and the importance of the prescription and constituent crude drugs in determining the efficacy.