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The quantitative assessment of the credit quality of manufacturing companies is a task of great interest to researchers and practitioners. This is underpinned by the elevated credit risk of these companies stemming from rapid technological changes. However, few studies have addressed this issue specifically for manufacturing companies. This study aimed to fill this research gap by comparing the predictive power of various methods in reproducing manufacturing companies’ public credit ratings from available financial and non-financial data. The sample included 109 manufacturing companies from developed and emerging markets over the period 2005–2016. The analysis included three methods: ordered logistic regression (OLR) and two machine learning techniques, random forest and gradient boosting. The results showed that machine learning techniques outperformed OLR in terms of predictive power. In the best specification model, random forest had an accuracy of 50%, followed by gradient boosting (47%) and OLR (25%). We also tested two types of sampling in the training and test sets: random and time-dependent. The results showed that the models’ predictive power was greater with random sampling. The inclusion of macroeconomic variables did not improve the models’ predictive power due to the rating agencies’ preferred through-the-cycle rating approach. The study’s findings have implications for the development of manufacturing firms’ internal credit ratings. They can also be useful for researchers exploring the accuracy of empirical models in predicting industrial firms’ insolvency and creditworthiness.

Veronika A Konstantinova,1 Olga Yu Olisova,2 Victor V Gladko,3 Ekaterina P Burova2–4 1Dermatology and Cosmetology Department Dao Clinic, Leninskiy Prospekt, Moscow 119119, Russia; 2Rakhmanov Department of Dermatology and Venereal Diseases, I.M.Sechenov First Moscow State Medical University of the Russian Federation, Moscow 119435, Russia; 3Department of Dermatology, Venereology and Cosmetology Medical Institute of Continuing Medical Education, Moscow State University of Food Production, Moscow 125080, Russia; 4Dermatology Department Bedford Hospital NHS Trust, South Wing, Bedford MK42 9DJ, UKCorrespondence: Ekaterina P BurovaDermatology Department Bedford Hospital NHS Trust, South Wing, 27 Rothsay Road, Bedford MK40 3PT, UKTel +447771857936Email katya.burova@gmail.comIntroduction: Vitiligo is one of the most common hypomelanoses. Current treatments include ultraviolet, topical corticosteroids, calcineurin inhibitors. Orally administered vitamins, acting as anti-oxidants and in combination with ultraviolet light have also demonstrated skin re-pigmentation. In our pilot study of seven patients, we injected skin affected with vitiligo intra-dermally with a complex of vitamins and minerals and assessed the outcome.Aim: The aim of this study was to evaluate a novel treatment modality for vitiligo.Methods: We present a pilot study of seven patients; each having been diagnosed with generalized progressive vitiligo. In all cases, multiple therapies had been previously attempted. All patients were subjected to intradermal injections of biorevitalizant NCTF 135 (3 mls) in the hypo-pigmented areas of skin, once a week for 5 weeks. A 30Gx13 mm needle was used for the 0.025 mls intradermal injections to create micro-papules with a 1 cm distance between the injection sites. The results were assessed at 2 weeks and 5 weeks and were considered successful if partial or complete repigmentation was achieved.Results: Partial or complete skin re-pigmentation post-treatment was observed in vitiligo macules of all patients (100%). No significant side effects, or exacerbation of vitiligo were observed during or after treatment with NCTF 135 in the following 6 months (five patients) and 12 months (two patients).Discussion: Increasing the armamentarium of new treatments of vitiligo is important. Previous studies showed the effectiveness of oral and intramuscularly injected multivitamins in the treatment of vitiligo, explaining the results by the antioxidative qualities of the above. Our study demonstrated that intradermal mesotherapy injections of NCTF135, rich with vitamins and other antioxidants are well tolerated and effective in achieving significant re-pigmentation of de-pigmented skin in all patients studied, including five who had been resistant to previous standard therapies.Keywords: antioxidants, vitamins and minerals, mesotherapy

в статье рассмотрены основные вопросы эффективности использования трудовых ресурсов на примере сельскохозяйственной организации. Автором подчеркнута необходимость качественного и количественного анализа трудовых ресурсов в сопоставлении. Отражены основные проблемы использования трудовых ресурсов Калужской области; определены критерии, которыми характеризуются трудовые ресурсы организации. При написании статьи были использованы следующие методы: индуктивные и дедуктивные, математические, анализа, обобщения и описания. В заключение приведены основные резервы повышения эффективности использования трудовых ресурсов, такие как повышение квалификации кадров, улучшение условий труда, разработка эффективной системы оплаты и др.