This paper provides a review of the most recent works in machine olfaction as applied to the identification of Chinese Herbal Medicines (CHMs). Due to the wide variety of CHMs, the complexity of growing sources and the diverse specifications of herb components, the quality control of CHMs is a challenging issue. Much research has demonstrated that an electronic nose (E-nose) as an advanced machine olfaction system, can overcome this challenge through identification of the complex odors of CHMs. E-nose technology, with better usability, high sensitivity, real-time detection and non-destructive features has shown better performance in comparison with other analytical techniques such as gas chromatography-mass spectrometry (GC-MS). Although there has been immense development of E-nose techniques in other applications, there are limited reports on the application of E-noses for the quality control of CHMs. The aim of current study is to review practical implementation and advantages of E-noses for robust and effective odor identification of CHMs. It covers the use of E-nose technology to study the effects of growing regions, identification methods, production procedures and storage time on CHMs. Moreover, the challenges and applications of E-nose for CHM identification are investigated. Based on the advancement in E-nose technology, odor may become a new quantitative index for quality control of CHMs and drug discovery. It was also found that more research could be done in the area of odor standardization and odor reproduction for remote sensing.

Identification of Chinese Herbal Medicines with Electronic Nose Technology: Applications and Challenges

Application and development trends of gas chromatography–ion mobility spectrometry for traditional Chinese medicine, clinical, food and environmental analysis

Manufacturing relatively inexpensive items in every area of engineering and science is the major focus of exploration resultant the world's contemporary economic setback. Making small-sized items that are inexpensive and lightweight while providing high quality is critical in today's and tomorrow's worlds. Nanotechnology has a significant role to play in this situation. Nano-objects or, in general, nanomaterials are especially preferred; nanotubes, especially those comprised of carbon, are one of the most popular types of nanostructures, and they are applied in a variety of chemical, biological and technical applications. This notion prompted us to investigate their many physical and chemical characteristics. We utilized topological descriptors to evaluate diverse nanotube structures such as armchair carbon and semi-capped nanotubes by using vertex-edge based indices to characterize distinct chemical structures via numerical quantitative analysis. Furthermore, we examined uncapped and semi-capped armchair carbon nanotubes and achieved adequate comparative findings.

Comparative study of vertex-edge based indices for semi-capped carbon nanotubes.

Adequate financial management is of great importance to the health care system. In the contemporary state of affairs, health care is facing numerous limitations due to drastic costs and growing pressures to provide quality health care. In such appalling conditions, the managers of health organizations must build skills and knowledge that go beyond the comfort zone of their clinical competencies. It is necessary to develop their leadership skills. Bearing in mind the importance of financial competencies, the general aim of this paper is to determine the competencies of the managers of Serbian health institutions (private and public sector) in this area. Insufficient attention has been given to how health care organizations’ financial literacy affects their sustainability. For the purpose of this prospective research, a questionnaire was created that surveyed the managers of various health care institutions. The results of this study indicated that managers of health organizations have a relatively modest level of financial knowledge. However, they participate in financial activities to a large extent. This gap between the function they perform and the knowledge they have can potentially harm the well-being of the health care organizations they lead. Managers of organizations in the public sector showed a more active role in the development of business plans and more frequent independent decision making, while managers of organizations in the private sector gave more importance to financial control, negotiation, and internal financial reporting, for the improvement of the management process.

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Financial Literacy of Managers in Serbian Health Care Organizations as a Path to Sustainability

Corresponding Author: Chen Xiaoyan College of Information and Engineering, Sichuan Agricultural University, Yaan 625014, China Email: chenxy@sicau.edu.cn Abstract: In order to improve the identification ability of electronic nosetostar anise from different areas, this study uses sensor array optimization, Particle Swarm Optimization (PSO) and Support Vector Machine (SVM) to effectively improve the discrimination and prediction ability of electronic nose. Firstly, the initial sensor arrays are selected according to the aroma components of star anise. On the basis of extracting sensor eigenvalues to form the initial feature matrix, the final sensor arrays are selected by combining variable correlation analysis and coefficient of variation analysis (RSD). Linear Discriminant Analysis (LDA) is applied to the sensor array before and after optimization to increase the group spacing of star anise from different producing areas. Particle swarm Support Vector Machine (PSO-SVM) and Genetic Support Vector Machine (GA-SVM) are used to distinguish the producing areas of star anise samples. The accuracy of PSO-SVM training set is 99.16%; that of test set is 93.33%; that of GA-SVM training set is 99.16% and the accuracy of test set is 90%. The results show that PSO-SVM model has high precision and convergence accuracy and it is more feasible to distinguish the origin of star anises.

Origin Detection of Illicium Verum Hook. f. Based on Sensor Array Optimization

Optimization of sensor array is a significant topic in the application of electronic nose (EN). Stepwise discriminant analysis and cluster analysis combining with screening of typical index were employed to optimize the original array in the classification of 100 samples from 10 kinds of traditional Chinese medicine based on alpha-FOX3000 EN. And the identification ability was evaluated by three algorithm including principle component analysis, Fisher discriminant analysis and random forest. The results showed that the identification ability of EN was improved since not only the effective information was maintained but also the redundant one was eliminated by the optimized array. The optimized method was eventually established, it was accurate and efficient. And the optimized array was built up, that is, S1, S2, S5, S6, S8, S12.

Optimization method of MOS sensor array for identification of traditional Chinese medicine based on electronic nose

This paper investigates the impact of multidimension liquidity, credit risk, and the interaction between liquidity and credit risk on corporate bond spreads based on a large transaction data set from July, 2006 to June, 2016, including the monthly data of 3716 bonds in China. Our main findings reveal that liquidity premiums are the main parts of corporate bond spreads. The interaction between liquidity and credit risk plays a significant role in determining corporate bond spreads. In addition, the differences between the interbank market and the exchange market have a significant impact on corporate bond spreads in normal period, and the interaction between liquidity and credit risk has an enhanced impact on corporate bond spreads during financial crisis. We also find that the interaction between liquidity and credit risk will increase with the increase of liquidity risk and credit risk and it is a time-varying dynamic process.

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Liquidity, Credit Risk, and Their Interaction on the Spreads in China’s Corporate Bond Market

Earnings communication conferences in China have become the main platform for direct communication between listed firms and individual investors. This study investigates whether hosting an earnings communication conference and its tone affect post-earnings-announcement drift (PEAD). We find that hosting an earnings communication conference increases PEAD. One possible explanation for our results is that investors overreact to the stock prices of firms that hold earnings communication conferences. We also conclude that the conference tone is negatively correlated with PEAD. In addition, the market reacts more strongly to the managers’ tone than it does to the investor's tone. 

Earnings communication conferences and post‐earnings‐announcement drift: Evidence from China

This study derives a liquidity and credit risk-adjusted capital asset pricing model and investigates the model using the data set in China's corporate bond market. Our research shows that the channels through which liquidity risk affects corporate bond return are individual bond liquidity risk, the interaction between individual bond liquidity risk and market liquidity risk. The channels through which credit risk affects corporate bond return are individual bond credit risk, the interaction between individual bond credit risk and market credit risk. The main channel through which the interaction between liquidity risk and credit risk affects corporate bond return is the interaction between individual bond liquidity risk and market credit risk. The model reveals the impact mechanism of individual risk and market risk on bond return and explains why the interaction between liquidity risk and credit risk affects bond pricing.

Corporate Bond Pricing Model with Interaction between Liquidity and Credit Risk

Financial inclusion has a wide range of positive effects on sustainable development, but studies indicate a lack of awareness about financial services in the large group of financially excluded individuals within the economy. This paper examines the mediating effects of financial literacy and the moderating role of social capital on the relationship between financial inclusion and sustainable development in Cameroon. A PLS-SEM model was used with 488 collected samples as empirical data from the residents of the Douala and Buea municipalities in Cameroon through a questionnaire survey. Financial inclusion was found to be positive and significantly related to financial literacy, and to have a positive and significant impact on sustainable development. Financial literacy and social capital positively and significantly affect sustainable development in Cameroon. However, financial literacy mediates, while social capital does not moderate the relationship between financial inclusion and sustainable development. The mediation is complementary because both the direct and indirect relationships are significant. The findings and contributions of this study provide useful insights and practical implications for financial institutions and governments, especially in developing countries. It provides empirical evidence and a better understanding of the link between financial inclusion and sustainable development, and the mediating effects and moderating role of financial literacy and social capital.

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The Mediating Effect of Financial Literacy and the Moderating Role of Social Capital in the Relationship between Financial Inclusion and Sustainable Development in Cameroon

Yu-Zhen Su

Papers

Optimization method of MOS sensor array for identification of traditional Chinese medicine based on electronic nose

Liquidity, Credit Risk, and Their Interaction on the Spreads in China’s Corporate Bond Market

Earnings communication conferences and post‐earnings‐announcement drift: Evidence from China

Corporate Bond Pricing Model with Interaction between Liquidity and Credit Risk

The Mediating Effect of Financial Literacy and the Moderating Role of Social Capital in the Relationship between Financial Inclusion and Sustainable Development in Cameroon