877 research outputs found
Is geographic diversification sufficient to limit contract grower risk?
No full textLending and financial institutions have looked for a variety of ways to expand their portfolios into agriculture, but because of the risks associated with lending to farmers who lack traditional forms of collateral, they face price and yield risks, causing these inroads to be limited. Market-based instruments are readily available for price risk. Organised exchanges offering the most basic of these instruments, futures and options, have operated for a long time, providing transparency to the market and low-cost risk transfer tools for those able to access them. While the use of price risk management instruments is an incomplete solution, it has sufficient merits on its own and will make the overall burden of risk more bearable. The use of these instruments and multi-peril crop insurance products is expensive and does not provide full protection for financial lending institutions to limit their credit risk exposure. This article determines whether geographic diversification would be sufficient as a risk management tool for lending institutions to limit their credit risk.Geographic diversification, Contract grower, Risk, Lending, Rainfall, Yield, Agricultural Finance,
Termination fees in mergers and acquisitions: Protecting investors or managers?
No full textInstitutional investors closely monitor termination fees in mergers and acquisitions (MandA). We argue that their magnitude reflects either agency problems or efficiency considerations. Focusing on MandA involving Canadian targets between 1997 and 2004, we assess the determinants and market impact of termination fees. Our findings show that the Thomson's SDC Platinum™ Worldwide Mergers and Acquisitions Database underestimates their extent. Results suggest that termination fees are essentially an efficient mechanism as they are relatively higher in MandA with high merger costs, a cash component and expected operating synergies. Stock market returns surrounding the deal announcement do not differ across levels of relative termination fees. © 2007 Blackwell Publishing Ltd.AMAR BW, 2006, J BUSINESS FINANCE A, V33, P517; Andrade G, 2001, J ECON PERSPECT, V15, P103, DOI 10.1257-jep.15.2.103; Andre P, 2004, FINANC MANAGE, V33, P27; ANDRE P, 2004, FINANCE CONTROLE STR, V7, P165; AYRES I, 1990, COLUMBIA LAW REV, V90, P682, DOI 10.2307-1122911; BAGDASARIAN E, 2003, CORPORATE FINAN 0602, P1; BARGERON L, 2006, SHAREHOLDER TENDER A; Bates TW, 2003, J FINANC ECON, V69, P469, DOI 10.1016-S0304-405X(03)00120-X; BERKOVITCH E, 1993, J FINANC QUANT ANAL, V28, P347, DOI 10.2307-2331418; BETTON S, 2005, 200516 TUCK SCH BUS; BOONE AL, 2006, TERMINATION PROVISIO; BOURETTE S, 1998, GLOBE MAIL 0205, pB13; BRAITHWAITE W, 2004, M A CANADA; Branch B. S., 2003, Q J BUSINESS EC, V42, P3; Brantley BC, 2002, TEX LAW REV, V81, P345; BRETHOUR P, 1996, GLOBE MAIL 0521, pB15; BRIEGER P, 2003, NATL POS 0218, pFP4; BUGEAUD G, 1996, CORP GOV, V8, P1; Burch TR, 2001, J FINANC ECON, V60, P103, DOI 10.1016-S0304-405X(01)00041-1; Claessens S, 2000, J FINANC ECON, V58, P81, DOI 10.1016-S0304-405X(00)00067-2; Coates JC, 2000, STANFORD LAW REV, V53, P307; Core JE, 1999, J FINANC ECON, V51, P371, DOI 10.1016-S0304-405X(98)00058-0; CRITCHLEY B, 2002, NATL POST 1104, pDM9; Cronqvist H, 2003, J FINANC QUANT ANAL, V38, P695, DOI 10.2307-4126740; Daily CM, 2003, ACAD MANAGE REV, V28, P371; Davidson K, 1997, J BEHAV MED, V20, P47, DOI 10.1023-A:1025587113192; Denis D. K., 2001, REV FINANCIAL EC, V10, P191, DOI 10.1016-S1058-3300(01)00037-4; Denis DK, 2003, J FINANC QUANT ANAL, V38, P1, DOI 10.2307-4126762; Donaldson L, 1991, AUSTR J MANAGEMENT, V16, P49; Faccio M, 2002, J FINANC ECON, V65, P365, DOI 10.1016-S0304-405X(02)00146-0; FRAIDIN S, 1994, YALE LAW J, V103, P1739, DOI 10.2307-797014; Ghosh A, 2001, J CORP FINANC, V7, P151, DOI 10.1016-S0929-1199(01)00018-9; GIRVAN G, 2003, MERGERS ACQUISITIONS; Hartzell JC, 2004, REV FINANC STUD, V17, P37, DOI 10.1093-rfs.hhg034; HEALY PM, 1992, J FINANC ECON, V31, P135, DOI 10.1016-0304-405X(92)90002-F; Heath Price Tarbert, 2003, LAW POLICY INT BUSIN, V34, P627; Holmstrom Bengt, 2001, J APPL CORPORATE FIN, V15, P8; Huson MR, 2001, J FINANC, V56, P2265, DOI 10.1111-0022-1082.00405; JENNINGS RH, 1993, REV FINANC STUD, V6, P883, DOI 10.1093-rfs-6.4.883; Kahan M, 1996, STANFORD LAW REV, V48, P1539, DOI 10.2307-1229332; La Porta R, 2002, J FINANC, V57, P1147, DOI 10.1111-1540-6261.00457; Larcker D. F., 2005, USE INSTRUMENTAL VAR; LESHEM S, 2006, SIGNALING THEORY TER; LEVY E, 2003, HOFSTRA LAW REV, V30, P1361; Loughran T, 1997, J FINANC, V52, P1765, DOI 10.2307-2329464; MCMURDY D, 1998, TRENDY BREAKUP FEES; Officer MS, 2003, J FINANC ECON, V69, P431, DOI 10.1016-S0304-405X(03)00119-3; Perry T, 1999, INCENTIVE COMPENSATI; RUBIN S, 2002, NATL POST 0304, pFP3; SALPUKAS A, 1999, NY TIMES 0627, pC1; Shleifer A., 1997, J FINANC, V52, P759; Smith Adam, 1776, INQUIRY NATURE CAUSE; SORKIN AR, 2002, NY TIMES 0407, P1; WALKLING RA, 1985, J FINANC QUANT ANAL, V20, P461, DOI 10.2307-2330762; Weisbach M. S., 2003, EC POLICY REV, V9, P7; WEISBACH MS, 1988, J FINANC ECON, V20, P431, DOI 10.1016-0304-405X(88)90053-0; Weston J. F., 2001, TAKEOVERS RESTRUCTUR; WESTPHAL J, 1998, ADMIN SCI QUART, V34, P127; Wooldrige J., 2003, INTRO ECONOMETRICS M; YEN TY, 2007, IN PRESS J EC BUSINE44
Henri Matisse Drawing: An Eye-Hand Interaction Study Based on Archival Film.
No full textHenri Matisse (1869-1954) attached fundamental importance to his drawings, in particular to the famous Themes et Variations series. These were accomplished following a precise method, starting with arduous life studies and evolving into brilliant spontaneous drawings. A 1946 archival documentary film showing the artist drawing four portraits of his grandson Gerard was shot in such a way as to allow the present author to undertake a detailed eye-hand interaction analysis of the drawing process.
It was found that Matisse’s temporal working rhythm and use of motor memory resulted in a more direct approach than that used by most painters. Taken together with remarks the artist made throughout his lifetime, these results provide a cognitive interpretation of his drawing method
Datasets and statistical analysis scripts_Disturbance reshapes diaspore interactions
No full textPrimary datasets and statistical analysis scripts of the manuscript entitled:
"Topsoil disturbance reshapes diaspore interactions with ground-foraging animals in a megadiverse grassland"
Andre J. Arruda¹,²,³*, Fernanda V. Costa4, Tadeu J. Guerra², Patrícia A. Junqueira², Roberta L.C. Dayrell¹,², João V. S. Messeder², Hanna T. S. Rodrigues², Elise Buisson³, Fernando A. O. Silveira²,5
1 University of Western Australia, School of Biological Sciences, Australia
2 Federal University of Minas Gerais, Department of Botany, Brazil
3 Avignon Université, Institut Méditerranéen de Biodiversité et d’Ecologie, CNRS,
IRD, Aix Marseille Université, IUT d’Avignon, AGROPARC, France
4 Federal University of Ouro Preto, Graduate School in Ecology of Tropical Biomes, Brazil
5 Federal University of Minas Gerais, Department of Genetics, Ecology and Evolution, Brazil
*Corresponding author: [email protected]</p
Cello techniques and performing practices in the nineteenth and early twentieth centuries
No full textThis thesis comprises a study of cello performance practices throughout the nineteenth century and into the early decades of the twentieth. It is organised in terms of the increasing complexity of the concepts which it examines, as they are to be found in printed and manuscript music, instrumental methods and larger treatises, early recordings, concert reviews and pictures. Basic posture is considered along with different ways of holding the
bow. The development of the tail-pin shows that even when it was widely used, the older posture was still referred to as a model. Some implications for tone quality and tonal
projection are considered in the light of the shape of the arms. Some connections between the cellist's posture and that recommended by etiquette books are explored. The
functionality of the left hand and arm, and the development of modem scale fingerings, show that there was a considerable period of overlap between newer and older practices, with modern scale fingerings evolving over a long period of time. Similarly, views on the function of the right wrist in bowing are shown to change gradually, moving towards a more active upper arm movement with less extreme flexibility of the wrist. Two central expressive techniques especially associated with string playing arc considered in the context of the cello, namely vibrato and portamento. These topics are examined in the light of written indications in music, recommendations in cello treatises, and the practices evidenced in early recordings. The sources for this study can be brought into an overall
framework of a constant dialogue between `theory', as expressed in verbal instructions to the learner, or general a priori reflections about the cello, and `practice', manifested in performing editions and early recordings, or in individual acts of reception. A wide divergence is noted, both between theory and practice in general, and in terms of different styles of playing observable at any one time. It is suggested that tensions between practice
and critical disapproval can be resolved in terms of Lacanian discourse. Several test cases are used in order to compare several different recordings of the same works. The question of the musical character of the cello is discussed in terms of widespread assumptions about its gendered identity. A wide range of sources suggest that this moved from a straightforwardly `masculine' identity expressed through a controlling, elevated eloquence to a less clearly defined one, incorporating the 'feminine', with a greater stress on uninhibited emotional expression. Some performance implications for this change of view are pursued with respect to specific repertoires. Broad conclusions stress the importance of the diversity of performance practices as opposed to unifying generalisations
After Y2K: Time, Andre the giant and other democratic avatar
No full textJesus said-
And the New Year arrived. The New Millenium. Just another day in a lifetime of similar days. But each one of them crowded with possibility. The possibility of disaster, the possibility of perfection ... What would become of them? I wondered. In another hundred years would they all be born in test tubes or perhaps evolve through computers to become groups of disembodied digitised intelligence machines . . . In a hundred years would they be living on other planets? Would the Earth still exist? Would they engineer themselves genetically so that disease was a thing of the past? Would they all become just one big multi-ethnic race? Will they discover the secret of the universe? ... Will they all speak the same language in the future? Will they make love? Maybe there will be more than two sexes. Will they still believe life is sacred? Will it matter? Do we matter? (Hal Hartley, The Book of Life, Fr. 2000)
Arbuscular mycorrhizal root colonisation and the subsequent host plant response in young grapevines in a South African commercial vineyard
No full textThesis (MSc)--University of Stellenbosch, 2003.ENGLISH SUMMARY: Arbuscular mycorrhizal (AM) fungi facilitate the uptake of nutrients, improve growth and alleviate
drought stress in grapevines. Consequently, AM fungal root colonisation contributes to the
optimum performance of grapevines. It is for this reason that young grapevines are sometimes
inoculated with commercial AM fungal strains to reduce environmental stresses during transplant.
In the past, soil fumigation has often been considered as a prerequisite for soil conditioning with
commercial AM fungal strains. However, grape growers opting to inoculate with these fungal
strains will have to do so in unfumigated soils, since the use of fumigants in South African
agricultural soils is currently being phased out. Since little is known about the nature and scope of
indigenous AM fungi that may be present in SA vineyard soils, it is difficult to predict the grapevine's
response to artificial inoculation in soils already containing adequate concentrations of these fungi.
In the first part of the study, commercially available AM inocula were tested under field conditions
that would prevail on a typical farm. This entailed measuring vine growth, nutrition, drought stress
resistance and percentage root colonisation, over two consecutive seasons, from the onset of
planting new commercial grapevines. The field trial carried out at Groenland, a commercial farm in
the Stellenbosch Region. Merlot grafted onto 101-14 Mgt, 110 Richter (110 R) and 99 Richter (99
R), was planted in December 1998. These rootstocks were selected to accommodate different soil
forms: 101-14 Mgt and 110 R on a Westleigh soil form, which was ridged and 99 R on an
unridged Fernwood soil form. Vine roots were inoculated during planting with different AM inocula,
i.e. Biocult®, Vaminoc" and Glomus sp. 1054. One treatment was left uninoculated and treated
with a combination of the fungicides Benlate" (active ingredient: benomyl) and Rovral Flo® (active
ingredient: iprodione). The control received neither fungicides nor inocula.
Microscopic examination of the vine roots revealed that, apart from a significantly higher level of
root colonisation observed in Biocult-treated 99 R vines during the first season, the level of AM
root colonisation was similar in both the uninoculated (control) and inoculated vines. Infected
control vines indicated that indigenous AM fungi were present in the vineyard soil. This level
ranged between 40% and 85%, and 70% and 90% in the first and second season, respectively.
Apart from the significant growth improvement observed in 110 R vines inoculated with Glomus sp.
1054 during the first season, no growth improvement was observed for the other rootstocks or
treatments. Furthermore, generally no alleviation of water stress and nutritional benefits could be
detected for both the seasons. Despite this, less than 1% dieback was recorded for the vines.
In the second part of the study, additional information on the diversity of indigenous AM fungal
species was obtained, which included the quantification and identification of these fungi present in
the soil. The AM fungal spore numbers in the vineyard soil ranged from 1000 to 3779 spores/100 g
dry soil. The results confirmed that the majority of AM fungal species found in the soil was not part
of the commercial inocula, but originated either from the vineyard and/or the nursery where the
vines were obtained. The uncovered AM fungal species belong to the genera Acaulospora, Gigaspora, Glomus, Sclerocystis and Scutellospora. This is similar to the AM fungal genera
recorded in vineyards by other workers.
To the best of our knowledge, this study provided the first documented evidence on the diversity of
indigenous AM fungi present in SA vineyard soils. Although it may be preliminary in nature, the
results clearly showed that a wide diversity and abundance of indigenous AM fungal populations
may occur in a typical SA vineyard. Depending on the superiority and possible masking effects on
the part of the indigenous AM fungal populations, positive responses to inoculation with commercial
AM fungal strains in grapevines grown in such vineyard soils may consequently be unlikely. Thus,
before reconditioning of vineyard soils with these fungi can commence, it is essential for farmers to
first assess the mycorrhizal status of their soils and nursery vines. Since the majority of SA farmers
are not yet familiar with inoculation practices and are still unacquainted with the mycorrhizal status
of their soils, the findings from this study could be of great benefit to particularly wine grape growers
opting to inoculate with commercial AM fungal strains on a large-scale.AFRIKAANSE OPSOMMING: Blaasagtige Struikvormige Mikorrisa (BSM) swamme bevorder die opname van
voedingstowwe, verbeter groei en verlig droogtestres in wingerd. Gevolglik is die kolonisasie
van wingerdwortels deur hierdie swamme voordelig om die prestasie van wingerd te optimiseer.
Om hierdie rede word jong wingerd somtyds op kommersiële skaal met mikorrisa swamme
geïnokuleer om omgewingstres tydens oorplanting te oorkom of te verminder. In die verlede is
grondberoking dikwels as 'n voorvereiste beskou vir grondkondisionering met kommersiële
BSM swamme. Boere wat van voorneme is om met BSM te inokuleer, sal dit egter in
onberookte grond moet doen, aangesien beroking tans in SA uitfasseer word. Omdat daar
baie min bekend is oor die voorkoms en aard van inheemse mikorrisa spesies, is dit moeilik om
te voorspel wat die wingerdreaksie na kunsmatige inokulasie sal wees in grond wat reeds
genoegsame konsentrasies mikorrisa swamme bevat.
In die eerste deel van die studie is kommersieel beskikbare BSM inokulums getoets onder veld
kondisies wat op 'n tipiese plaas sou heers. Dit het die meting van groei, voeding, droogtestres
en persentasie wortel kolonisasie van jong wingerd oor twee opeenvolgende seisoene ingesluit
en het onmiddelik 'n aanvang geneem na die jong wingerdstokkies geplant is. Die proef is op
die plaas Groenland, net buite Stellenbosch uitgevoer. Merlot, geênt op 101-14 Mgt, 110
Richter (110 R) and 99 Richter (99 R), is geplant in Desember 1998. Die onderstokke 101-14
Mgt en 110 R was geplant op operdwalle op 'n Westleigh grondvorm en 99 Rop 'n Fernwood
grondvorm (geen operdwalle nie). Wingerdwortels is tydens plant geïnokuleer met verskillende
BSM inokulums. Die inokulums was Biocult, Vaminoc and Glomus sp. 1054. Een behandeling
was ongeïnokuleerd gelaat en behandel met 'n kombinasie van die swamdoders Benlate"
(aktiewe bestandeel: benomiel) en Rovral Flo® (aktiewe bestandeel: iprodioon). Die kontrole
het nóg swamdoder nóg inokulum ontvang.
Mikroskopiese ondersoeke het getoon dat behalwe vir 'n betekenisvolle hoër vlak van
wortelkolonisasie by die Biocult-behandelde 99 R stokke, die vlak van wortelkolonisasie in
ongeïnokuleerde (kontrole) en geïnokuleerde wingerdstokke soortgelyk was. Gekoloniseerde
kontrole stokke het gedui op die teenwoordigheid van inheemse BSM fungi in die
wingerdgrond. Die vlak van gekoloniseerde stokke het tussen 40% en 85% tydens die eerste
seisoen en tussen 70% en 90% tydens die tweede seisoen varieer. Behalwe vir 'n
betekenisvolle toename in groei wat tydens die eerste seisoen by 110 R stokke, geïnokuleer
met Glomus sp. 1054 waargeneem is, is geen ander groeiverbeterings by ander stokke of
behandelings waargeneem nie. Verder kon geen algemene verligting van waterstres en
voedingsvoordele tydens beide seisoene waargeneem word nie. Ten spyte hiervan, is minder
as 1% terugsterwing aangeteken vir die wingerdplante. In die tweede deel van die studie is addisionele inligting bekom rakende die diversiteit van
inheemse SSM spesies. Dit het die kwantifisering en identifisering van SSM swamme ingesluit.
Die SSM spoorgetalle in die wingerdgrond het tussen 1000 en 3779/100 g droë grond varieer.
Die resultate het bevestig dat die meerderheid SSM spesies wat in die wingerdgrond
teenwoordig was, nie deel van die oorspronklike kommersiële inokulums was nie en was óf
inheems tot die wingerd óf het sy oorsprong in die kwekery vanwaar die wingerdplante
afkomstig is. Die spesies wat identifiseer is, is die van die genera Acaulospora, Gigaspora,
Glomus, Sclerocystis and Scutellospora. Dit stem ooreen met SSM genera wat voorheen al in
wingerd geïdentifiserd is.
Tot die beste van ons wete, is hierdie studie die eerste van sy soort in 'n SA wingerd. Hoewel
die studie voorlopig van aard is, wys die studie duidelik dat 'n wye diversiteit en genoegsame
hoeveelhede natuurlike populasie SSM swamme in 'n Suid-Afrikaanse wingerd mag voorkom
en dat kunsmatige toediening van kommersiële SSM swamme onder hierdie kondisies, nie
noemenswaardige voordele vir die wingerd inhou nie. Daarom is dit van kardinale belang vir
boere om eers vertroud te raak met die SSM status van hulle wingerdgronde alvorens hulle met
SSM swamme op groot skaal inokuleer. Aangesien die meerderheid SA boere nog nie
vertroud is met die inokulasie prosedure nie, kan die inligting wat uit hierdie studie gegenereer
is, baie voordelig wees vir boere wat oorweeg om op groot skaal met SSM te inokuleer
A conversation with Isca Wittenberg
No full textThis paper, based on a conversation with Isca Wittenberg, summarises the dialogue between her and the author and highlights the main points of their discussion, including the observational method, the role of the observer and the influence on clinical practice
The genome and proteome of a virulent Escherichia coli O157:H7 bacteriophage closely resembling Salmonella phage Felix O1
No full textBased upon whole genome and proteome analysis, Escherichia coli O157:H7-specific bacteriophage (phage) wV8 belongs to the new myoviral genus, "the Felix O1-like viruses" along with Salmonella phage Felix O1 and Erwinia amylovora phage φEa21-4. The genome characteristics of phage wV8 (size 88.49 kb, mol%G+C 38.9, 138 ORFs, 23 tRNAs) are very similar to those of phage Felix O1 (86.16 kb, 39.0 mol%G+C, 131 ORFs and 22 tRNAs) and, indeed most of the proteins have their closest homologs within Felix O1. Approximately one-half of the Escherichia coli O157:H7 mutants resistant to phage wV8 still serotype as O157:H7 indicating that this phage may recognize, like coliphage T4, two different surface receptors: lipopolysaccharide and, perhaps, an outer membrane protein
Genetic association study of QT interval highlights role for calcium signaling pathways in myocardial repolarization.
No full textThe QT interval, an electrocardiographic measure reflecting myocardial repolarization, is a heritable trait. QT prolongation is a risk factor for ventricular arrhythmias and sudden cardiac death (SCD) and could indicate the presence of the potentially lethal mendelian long-QT syndrome (LQTS). Using a genome-wide association and replication study in up to 100,000 individuals, we identified 35 common variant loci associated with QT interval that collectively explain ∼8-10% of QT-interval variation and highlight the importance of calcium regulation in myocardial repolarization. Rare variant analysis of 6 new QT interval-associated loci in 298 unrelated probands with LQTS identified coding variants not found in controls but of uncertain causality and therefore requiring validation. Several newly identified loci encode proteins that physically interact with other recognized repolarization proteins. Our integration of common variant association, expression and orthogonal protein-protein interaction screens provides new insights into cardiac electrophysiology and identifies new candidate genes for ventricular arrhythmias, LQTS and SCD
- …
