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Natural wood colors occur within a wide range from almost white (e.g., white poplar), various yellowish, reddish, and brownish hues to almost black (e.g., ebony). The intrinsic color of wood is basically defined by its chemical composition. However, other factors such as specific anatomical formations or physical properties further affect the optical impression. Starting with the chemical composition of wood and anatomical basics, wood color and its modifications are discussed in this chapter. The classic method of coloring or re-coloring wood-based material surfaces is the application of a coating containing appropriate dyes or pigments. Different concepts for wood coating and coloration are presented. Another method used dyes for coloration of the wood structure. As alternative techniques, physical methods, for example, drying, steaming, ammoniation, bleaching, enzyme treatment, as well as treatment with electromagnetic irradiation (e.g., UV), are explained in this chapter.
Wir kennen alle die Herausforderungen der neuen Arbeitswelt. Menschen müssen lernen, in der so genannten VUCA-Welt zurecht zu kommen. Der Begriff ist ein Akronym für die englischen Begriffe volatility (Unbeständigkeit), uncertainty (Unsicherheit), complexity (Komplexität) und ambiguity (Mehrdeutigkeit). Das erfordert ein schnelles Adaptieren an Veränderungen im Arbeitskontext. Beweglichkeit ist da ein zentraler Faktor und einerseits sehr energetisierend und andererseits auch mit Anstrengungen verbunden, denn es müssen Gewohnheiten und Arbeitsweisen verändert werden.
This study investigates how integrated reporting (IR) creates value for investors. It examines how providers of financial capital benefit from an improved firm information environment provided by IR. Specifically, this study investigates the effect of voluntary IR disclosure on analyst earnings forecast accuracy as well as on firm value. To do so, we use an international sample of 167 listed companies that voluntarily publish an integrated report. Our analysis shows no significant effect of a voluntary IR publication on analyst earnings forecast accuracy and no significant effect on firm value. We thus do not find evidence for the fulfillment of IR's promises regarding improved information environment and value creation of voluntary adopters. We conclude that such companies might already have a relatively high level of transparency leading to an absent additional effect of IR disclosure. Positive effects of IR appear to be more relevant in environments where IR is mandatory.
This practical guide for advanced students and decision-makers in the pharma and biotech industry presents key success factors in R&D along with value creators in pharmaceutical innovation. A team of editors and authors with extensive experience in academia and industry and at some of the most prestigious business schools in Europe discusses in detail the innovation process in pharma as well as common and new research and innovation strategies. In doing so, they cover collaboration and partnerships, open innovation, biopharmaceuticals, translational medicine, good manufacturing practice, regulatory affairs, and portfolio management. Each chapter covers controversial aspects of recent developments in the pharmaceutical industry, with the aim of stimulating productive debates on the most effective and efficient innovation processes. A must-have for young professionals and MBA students preparing to enter R&D in pharma or biotech as well as for students on a combined BA/biomedical and natural sciences program.
Hypericin has large potential in modern medicine and exhibits fascinating structural dynamics, such as multiple conformations and tautomerization. However, it is difficult to study individual conformers/tautomers, as they cannot be isolated due to the similarity of their chemical and physical properties. An approach to overcome this difficulty is to combine single molecule experiments with theoretical studies. Time-dependent density functional theory (TD-DFT) calculations reveal that tautomerization of hypericin occurs via a two-step proton transfer with an energy barrier of 1.63 eV, whereas a direct single-step pathway has a large activation energy barrier of 2.42 eV. Tautomerization in hypericin is accompanied by reorientation of the transition dipole moment, which can be directly observed by fluorescence intensity fluctuations. Quantitative tautomerization residence times can be obtained from the autocorrelation of the temporal emission behavior revealing that hypericin stays in the same tautomeric state for several seconds, which can be influenced by the embedding matrix. Furthermore, replacing hydrogen with deuterium further proves that the underlying process is based on tunneling of a proton. In addition, the tautomerization rate can be influenced by a λ/2 Fabry–Pérot microcavity, where the occupation of Raman active vibrations can alter the tunneling rate.
Recently described rhizolutin and collinolactone isolated from Streptomyces Gç 40/10 share the same novel carbon scaffold. Analyses by NMR and X-Ray crystallography verify the structure of collinolactone and propose a revision of rhizolutins stereochemistry. Isotope-labeled precursor feeding shows that collinolactone is biosynthesized via type I polyketide synthase with Baeyer–Villiger oxidation. CRISPR-based genetic strategies led to the identification of the biosynthetic gene cluster and a high-production strain. Chemical semisyntheses yielded collinolactone analogues with inhibitory effects on L929 cell line. Fluorescence microscopy revealed that only particular analogues induce monopolar spindles impairing cell division in mitosis. Inspired by the Alzheimerprotective activity of rhizolutin, we investigated the neuroprotective effects of collinolactone and its analogues on glutamate-sensitive cells (HT22) and indeed, natural collinolactone displays distinct neuroprotection from intracellular oxidative stress.
The reduced research and development (R&D) efficiency, strong competition from generics, increased cost pressure from payers, and an increased biological complexity of new target indications have resulted in a rethinking and a change from a traditional and more closed R&D model in the pharmaceutical industry toward the new paradigm of open innovation. In the past years, pharmaceutical companies have broadened their external networks toward research collaborations with academic institutes, technology providers, or codevelopment partners. To fulfill the demand to reduce timelines and costs, research-based pharmaceutical companies started to outsource R&D activities. In addition, internal R&D processes were adjusted to the more open R&D model and new processes such as alliance management were established. The corporate frontier of pharmaceutical companies became permeable and more open. As a result, the focus of pharmaceutical R&D expanded from a purely internal toward a mixed internal and external model. Today, the U.S. pharmaceutical company Eli Lilly may have established the most open model toward external innovation, as it has integrated its innovation processes with its business model. Other companies are following this more open R&D model with newer concepts such as new frontier sciences, drug discovery alliances, private public partnerships, innovation incubators, virtual R&D, crowdsourcing, open source innovation, and innovation camps.
AbstractThrough their procyclical behavior, loan loss provisions have been determined as one of the factors that contribute to financial instability during a crisis. IFRS 9 was introduced in 2018 with an expected credit loss model replacing the incurred loss model of IAS 39 to mitigate the effect in the future. Our study aims to analyze loan loss provisions of major banks in the Eurozone to determine for the first time if the implementation of IFRS 9, as intended by regulators, has a dampening effect on procyclicality, especially during the stressed situation under COVID‐19. We analyze 51 banks from 12 countries of the European Monetary Union using 2856 firm‐year observations. While no robust evidence of less procyclicality can be found after the implementation of IFRS 9 until the pandemic, we find evidence that loan loss provisions moved countercyclical during 2020, indicating an alleviating effect at the beginning of the exogenous shock.
Clinical development is historically the phase in which a potential new medicine is being tested in phase 2 and phase 3 patient trials to demonstrate the new molecules' efficacy and safety to support the regulatory approval of drugs by health authorities. This relatively focused approach has been considerably expanded by a number of forces from within the pharmaceutical industry and equally important by changes in the healthcare systems. The need to identify the optimal patient population, showstoppers leading to discontinuation of clinical programs, the silent but constant removal of surrogate endpoints for registration, and the increased demand for real-life data which are used to demonstrate the patients' benefit and which have an ever-increasing role for pricing and reimbursement negotiations are today an integral part of this phase.
This chapter will review both the nuts and bolts of clinical development but also recent developments in this area which shape the environment and how the different players have reacted and what options might need to be explored in the future.
Block-copolyesters of polyethylene terephthalate (PET) and polyethylene naphthalate (PEN) were synthesized via reactive extrusion. The influence of processing parameters on the material properties on a molecular scale like degree of trans-esterification, block length, and degree of randomness were investigated. The varied process factors were extrusion temperature and rotational speed. The effects of process parameter variation were investigated by 1H-NMR-spectroscopy. The experimental results show a clear dependence of the molecular properties on the processing conditions. By using statistical experimental design (DoE), it was possible to prepare defined copolyesters from PET and PEN without addition of further chemicals. With a degree of randomness between 0.05 and 0.5, the presence of an actual copolyester was confirmed when appropriate extrusion conditions were applied. The reactive extrusion process was confirmed to be suitable to produce defined block-copolyesters in a predictable and reproducible way. It was possible to produce designed sequence lengths, which could be adjusted within a range of 11–136 repeating units in the case of PET and, in the case of PEN, of 2.5–26. The produced materials can be used as barrier materials or barrier coatings to protect substrates against molecular oxygen and water vapour, e.g., in organic photovoltaic applications or food packaging. The described method is a one-pot alternative method to the previously described chemical recycling pathway.