Cosmopolitan Capital and the Internationalization of the Field of Business Elites: Evidence from the Swiss Case

The aim of this contribution is to explore how the recent internationalization and the increasing importance of 'cosmopolitan capital' has impacted on the structure and character of the field of the Swiss business elite. For this purpose we will develop the notion of cosmopolitan capital and comparatively investigate the field of the Swiss business elite in 1980, 2000 and 2010 with multiple correspondence analysis. We can show that in this period international managers with transnational careers and networks not only grow in number, but come to conquer the apex of the biggest and highest capitalized Swiss firms. At the same time, national forms of capital decline in importance and Swiss managers themselves are differentiated increasingly into national and international fractions.

A link between FXYD3 (Mat-8)-mediated Na,K-ATPase regulation and differentiation of Caco-2 intestinal epithelial cells.

FXYD3 (Mat-8) proteins are regulators of Na,K-ATPase. In normal tissue, FXYD3 is mainly expressed in stomach and colon, but it is also overexpressed in cancer cells, suggesting a role in tumorogenesis. We show that FXYD3 silencing has no effect on cell proliferation but promotes cell apoptosis and prevents cell differentiation of human colon adenocarcinoma cells (Caco-2), which is reflected by a reduction in alkaline phosphatase and villin expression, a change in several other differentiation markers, and a decrease in transepithelial resistance. Inhibition of cell differentiation in FXYD3-deficient cells is accompanied by an increase in the apparent Na+ and K+ affinities of Na,K-ATPase, reflecting the absence of Na,K-pump regulation by FXYD3. In addition, we observe a decrease in the maximal Na,K-ATPase activity due to a decrease in its turnover number, which correlates with a change in Na,K-ATPase isozyme expression that is characteristic of cancer cells. Overall, our results suggest an important role of FXYD3 in cell differentiation of Caco-2 cells. One possibility is that FXYD3 silencing prevents proper regulation of Na,K-ATPase, which leads to perturbation of cellular Na+ and K+ homeostasis and changes in the expression of Na,K-ATPase isozymes, whose functional properties are incompatible with Caco-2 cell differentiation.

Regulation of c-fos expression by RNA polymerase elongation competence.

The molecular mechanisms underlying transcription elongation and their role in gene regulation are poorly characterized in eukaryotes. A number of genes, however, have been proposed to be regulated at the level of transcription elongation, including c-myc, c-fos and c-myb. Here, we analyze the control of transcription elongation at the mouse c-fos gene at the nucleotide level in intact cells. We find that RNA polymerases are engaged in the promoter-proximal part of the gene in the absence of gene activation signals and mRNA synthesis. Importantly, we determine that the engaged RNA polymerases originate from a continuous initiation of transcription which, in the absence of gene activation signals, terminate close to the promoter. We also observe that the c-fos gene presents an active chromatin conformation, with the promoter and upstream regulatory sequences constitutively occupied by proteins, accounting for the continuous initiation of RNA polymerase complexes. We propose that activation of c-fos gene expression results primarily from the assembly of elongation-competent RNA polymerases that can transcribe the complete gene. Our results suggest that the engaged RNA polymerases found downstream of a number of other eukaryotic promoters may be associated with transcription termination of elongation-incompetent polymerases in the absence of activating signals.

Glucose transporters in the regulation of intestinal, renal, and liver glucose fluxes.

Five functional mammalian facilitated hexose carriers (GLUTs) have been characterized by molecular cloning. By functional expression in heterologous systems, their specificity and affinity for different hexoses have been defined. There are three high-affinity transporters (GLUT-1, GLUT-3 and GLUT-4) and one low-affinity transporter (GLUT-2), and GLUT-5 is primarily a fructose carrier. Because their Michaelis constants (Km) are below the normal blood glucose concentration, the high-affinity transporters function at rates close to maximal velocity. Thus their level of cell surface expression greatly influences the rate of glucose uptake into the cells. In contrast, the rate of glucose uptake by GLUT-2 (Km = 17 mM) increases in parallel with the rise in blood glucose over the physiological concentration range. High-affinity transporters are found in almost every tissue, but their expression is higher in cells with high glycolytic activity. Glut-2, however, is found in tissues carrying large glucose fluxes, such as intestine, kidney, and liver. As an adaptive response to variations in metabolic conditions, the expression of these transporters is regulated by glucose and different hormones. Thus, because of their specific characteristics and regulated expression, the facilitated glucose transporters control fundamental aspects of glucose homeostasis. I review data pertaining to the structure and regulated expression of the glucose carriers present in intestine, kidney, and liver and discuss their role in the control of glucose flux into or out of these different tissues.

Regulation of innate and adaptive immunity by Notch.

Coordinated function of the innate and adaptive arms of the immune system in vertebrates is essential to promote protective immunity and to avoid immunopathology. The Notch signalling pathway, which was originally identified as a pleiotropic mediator of cell fate in invertebrates, has recently emerged as an important regulator of immune cell development and function. Notch was initially shown to be a key determinant of cell-lineage commitment in developing lymphocytes, but it is now known to control the homeostasis of several innate cell populations. Moreover, the roles of Notch in adaptive immunity have expanded to include the regulation of T cell differentiation and function. The aim of this Review is to summarize the current status of immune regulation by Notch. A better understanding of Notch function in both innate and adaptive immunity will hopefully provide multiple avenues for therapeutic intervention in disease.

Regulation of proliferation and differentiation of human fetal bone cells.

During the last decade, extensive research has been performed in the field of orthopedic medicine to develop cell-based therapies for the restoration of injured bone tissue. We previously demonstrated that human primary fetal bone cells (HFBCs) associated with porous scaffolds induced a bone formation in critical calvaria defect; however, the environmental factors regulating their behavior in culture have not been identified. HFBCs (human fetal femur,12 week development) were compared to marrow-derived human mesenchymal stem cells (HMSCs) for their capacity to proliferate and differentiate into osteoblasts under various culture conditions. When cultured in standard alphaMEM medium, PDGF and FGF-2 increased cell proliferation of both cell types. Investigation of the differentiating capacity of HFBCs and HMSCs in a normal culture medium indicated that HFBCs expressed higher expression levels of RUNX2, OSX, and osteogenic markers compared with HMSCs, while SOX9 was expressed at very low levels in both cells types. However, HMSCs, but not HFBCs enhanced osteoblastic markers in response to osteogenic factors. Surprisingly, BMP-2 with osteogenic factors increased cell numbers and reduced osteoblastic differentiation in HFBCs with the opposite effect seen in HMSCs. Associated with a higher expression of osteoblastic markers, HFBCs produced a higher calcified extra cellular matrix compared with HMSCs. Taken together, data presented in this study suggest that HFBCs have characteristics of osteoprecursor cells that are more advanced in their osteogenesis development compared with mesenchymal stem cells, making fetal cells an interesting biological tool for treatment of skeletal defects and diseases.

Regulation of PIDD auto-proteolysis and activity by the molecular chaperone Hsp90.

In response to DNA damage, p53-induced protein with a death domain (PIDD) forms a complex called the PIDDosome, which either consists of PIDD, RIP-associated protein with a death domain and caspase-2, forming a platform for the activation of caspase-2, or contains PIDD, RIP1 and NEMO, important for NF-κB activation. PIDDosome activation is dependent on auto-processing of PIDD at two different sites, generating the fragments PIDD-C and PIDD-CC. Despite constitutive cleavage, endogenous PIDD remains inactive. In this study, we screened for novel PIDD regulators and identified heat shock protein 90 (Hsp90) as a major effector in both PIDD protein maturation and activation. Hsp90, together with p23, binds PIDD and inhibition of Hsp90 activity with geldanamycin efficiently disrupts this association and impairs PIDD auto-processing. Consequently, both PIDD-mediated NF-κB and caspase-2 activation are abrogated. Interestingly, PIDDosome formation itself is associated with Hsp90 release. Characterisation of cytoplasmic and nuclear pools of PIDD showed that active PIDD accumulates in the nucleus and that only cytoplasmic PIDD is bound to Hsp90. Finally, heat shock induces Hsp90 release from PIDD and PIDD nuclear translocation. Thus, Hsp90 has a major role in controlling PIDD functional activity.

Sociétés anonymes de famille : structure, maintien et optimisation de la détention du capital

Introduction générale : D'après une étude réalisée en Suisse en 2004, les entreprises de famille représentent 88,14% des entreprises, dont 80,2% sont constitués en sociétés anonymes. Les chiffres parlent d'eux-mêmes : les sociétés anonymes de famille occupent une place considérable dans le paysage des entreprises suisses. Les sociétés anonymes de famille correspondent donc à une réalité pratique. Juridiquement, la notion de société de famille n'apparaît pas dans le Code des obligations ; les sociétés anonymes de famille revêtent la forme juridique de la société anonyme, qui représente l'entreprise commerciale la plus courante en pratique. Le Code des obligations, à ses art. 620 ss, se limite à donner un cadre général de réglementation, ce qui a notamment pour conséquence que la forme juridique de la société anonyme s'adapte à des entités très variées, dans toutes sortes de secteurs d'activité, que ce soient des petites et moyennes entreprises ou de grandes multinationales, des sociétés capitalistes et impersonnelles ou des sociétés purement privées. Selon la conception générale de la forme juridique de la société anonyme, celle-ci revêt en principe un caractère capitaliste. L'intérêt de l'actionnaire pour la société anonyme est normalement de nature financière. Le fait que la qualité d'actionnaire soit matérialisée dans un titre, l'action, implique tant une certaine liquidité de l'actionnariat qu'une dépersonnalisation des rapports entre les membres qui composent la société anonyme. A l'opposé, la famille repose sur des liens personnels particuliers, étroits, avec notamment des dimensions psychologiques, affectives, émotives. Au premier abord, société anonyme et famille semblent donc antinomiques. Cette dichotomie présente un intérêt dogmatique. Elle correspond en outre à l'un des principaux enjeux : comment tenir compte des intérêts d'une entité fortement personnalisée - la famille - dans une structure impersonnelle et de type capitaliste - la société anonyme ? Le fait que le Code des obligations se limite à donner un cadre général de réglementation prend alors ici toute son importance ; la marge de manoeuvre et la liberté d'aménagement que le législateur accorde aux sociétés anonymes r vont permettre - ou alors empêcher - d'adapter la forme juridique de la société anonyme aux besoins d'une entité personnalisée comme la famille. Cette liberté n'est donc pas sans limites et les membres de la famille devront peut-être aussi assumer les conséquences du choix de cette forme de société. Partant, le but de notre travail est d'étudier les raisons d'être, l'organisation et la pérennité des sociétés anonymes de famille, spécifiquement sous l'angle du maintien du caractère familial de la société. Nous nous concentrerons sur la détention du capital, mais aussi sur sa structure, son maintien et son optimisation ; nous aborderons ainsi notamment les questions relatives à la transmissibilité des actions. Au regard de l'ampleur du sujet, nous avons dû procéder à certains choix, parfois arbitraires, notamment en raison des implications presque infinies des règles avec d'autres domaines. Nous nous limiterons ainsi, dans la première partie, à exposer les notions de base employées dans la suite de notre travail et nous focaliserons sur l'élaboration des définitions d'entreprise, société et société anonyme de famille, prémisses non seulement essentielles sous l'angle théorique, mais aussi fondamentales pour nos développements ultérieurs. S'agissant ensuite de l'analyse des possibilités d'aménagement d'une société anonyme dans le cadre du maintien du caractère familial de la société, nous nous concentrerons sur les règles relatives à la société anonyme et étudierons les limites qu'elles imposent et la liberté qu'elles offrent aux actionnaires familiaux. Nous laisserons en revanche de côté les problématiques particulières de la protection des actionnaires minoritaires et des organes. Enfin, si nous traitons toutes les notions théoriques nécessaires à la compréhension de chaque thématique présentée, seules celles primordiales et déterminantes sous l'angle de la conservation de l'hégémonie familiale seront approfondies. Nous avons structuré notre étude en quatre titres. Dans un premier titre, nous développerons les notions et principes élémentaires de notre sujet. Nous rappellerons ainsi la définition et les particularités de la société anonyme en général, y compris les sources et les modifications législatives, et les conditions de la cotation en bourse. Au stade des notions introductives, nous devrons également définir la société anonyme de famille, en particulier en établissant les éléments de la définition. Qu'entend-on par famille ? Quels critères permettent de qualifier une société anonyme de « société anonyme de famille » ? La définition de la société anonyme de famille devra être à la fois suffisamment précise, afin que cette notion puisse être appréhendée de manière adéquate pour la suite de notre travail, et suffisamment large, pour qu'elle englobe toute la variété des sociétés anonymes de famille. Nous présenterons aussi les raisons du choix de la forme juridique de la société anonyme pour une société de famille. Nous terminerons nos développements introductifs par un exposé relatif à la notion d'action et à son transfert en sa qualité de papier-valeur, préalables nécessaires à nos développements sur la transmissibilité des actions. Nous mettrons ainsi en évidence les conditions de transfert des actions, en tenant compte de la tendance à la dématérialisation des titres. Une fois ces éléments mis en place, qui nous donneront une première idée de la structure du capital d'une société anonyme de famille, nous devrons préciser la manière dont le capital doit être structuré. Nous chercherons comment il peut être maintenu en mains de la famille et si d'autres moyens n'ayant pas directement trait au capital peuvent être mis en oeuvre. Ainsi, dans un deuxième titre, nous analyserons les dispositions statutaires relatives à la structure du capital et à son maintien en mains familiales, en particulier les restrictions au transfert des actions nominatives. Les dispositions statutaires constituent-elles un moyen adéquat pour maintenir le caractère familial de la société ? Quelles sont les conditions pour limiter le transfert des actions ? Le caractère familial de la société peut-il être utilisé afin de restreindre le transfert des actions ? Les solutions sont-elles différentes si les actions sont, en tout ou en partie, cotées en bourse ? Nous traiterons aussi, dans ce même titre, les modalités du droit de vote et déterminerons si des dispositions statutaires peuvent être aménagées afin de donner plus de voix aux actions des membres de la famille et ainsi d'optimiser la détention du capital. Nous examinerons, dans notre troisième titre, un acte qui a trait à la fois au droit des contrats et au droit de la société anonyme, la convention d'actionnaires. En quoi consistent ces contrats ? Quels engagements les actionnaires familiaux peuvent-ils et doivent-ils prendre ? Quelle est l'utilité de ces contrats dans les sociétés anonymes de famille ? Quelles en sont les limites ? Les clauses conventionnelles peuvent-elles être intégrées dans les statuts ? Comment combiner les différentes clauses de la convention entre elles ? Dans ce même titre, nous étudierons également la concrétisation et la mise en application des dispositions statutaires et des clauses conventionnelles, afin de déterminer si, combinées, elles constituent des moyens adéquats pour assurer la structure, le maintien et l'optimisation de la détention du capital. Enfin, dans le quatrième et dernier titre, qui est davantage conçu comme un excursus, nous nous éloignerons du domaine strict du droit des sociétés (et des contrats) pour envisager certains aspects matrimoniaux et d'ordre successoral. En effet, puisque la famille est à la base de la société, il convient de relever l'importance des règles matrimoniales et successorales pour les sociétés anonymes de famille et leur incidence sur la détention des actions et le maintien du caractère familial de la société. Nous examinerons en particulier comment ces instruments doivent être utilisés pour qu'ils n'annihilent pas les efforts entrepris pour conserver la société en mains familiales. Notre travail a pour but et pour innovation de présenter une analyse transversale aussi complète que possible du droit de la société anonyme et des instruments connexes en étudiant les moyens à disposition des actionnaires d'une société anonyme de type personnel, la société anonyme de famille. Il tentera ainsi d'apporter une approche théorique nouvelle de ces questions, de présenter certains aspects de manière pragmatique, d'analyser la mise en oeuvre des différents moyens étudiés et de discuter leur opportunité.

Differential regulation of the expression of two high-affinity sulfate transporters, SULTR1.1 and SULTR1.2, in Arabidopsis

The molecular mechanisms regulating the initial uptake of inorganic sulfate in plants are still largely unknown. The current model for the regulation of sulfate uptake and assimilation attributes positive and negative regulatory roles to O-acetyl-serine (O-acetyl-Ser) and glutathione, respectively. This model seems to suffer from exceptions and it has not yet been clearly validated whether intracellular O-acetyl-Ser and glutathione levels have impacts on regulation. The transcript level of the two high-affinity sulfate transporters SULTR1.1 and SULTR1.2 responsible for sulfate uptake from the soil solution was compared to the intracellular contents of O-acetyl-Ser, glutathione, and sulfate in roots of plants submitted to a wide diversity of experimental conditions. SULTR1.1 and SULTR1.2 were differentially expressed and neither of the genes was regulated in accordance with the current model. The SULTR1.1 transcript level was mainly altered in response to the sulfur-related treatments. Split-root experiments show that the expression of SULTR1.1 is locally regulated in response to sulfate starvation. In contrast, accumulation of SULTR1.2 transcripts appeared to be mainly related to metabolic demand and is controlled by photoperiod. On the basis of the new molecular insights provided in this study, we suggest that the expression of the two transporters depends on different regulatory networks. We hypothesize that interplay between SULTR1.1 and SULTR1.2 transporters could be an important mechanism to regulate sulfate content in the roots

Notch regulation of lymphocyte development and function.

Notch proteins regulate a broad spectrum of cell fate decisions and differentiation processes during fetal and postnatal development. Mammals have four Notch receptors that bind five different ligands. The function of Notch signaling during lymphopoiesis and T cell neoplasia, based on gain-of-function and conditional loss-of-function approaches for the Notch1 receptor, indicates Notch1 is essential in T cell lineage commitment. Recent studies have addressed the involvement of other Notch receptors and ligands as well as their downstream targets, demonstrating additional functions of Notch signaling in embryonic hematopoiesis, intrathymic T cell development, B cell development and peripheral T cell function.

Gene-Age Interactions in Blood Pressure Regulation: A Large-Scale Investigation with the CHARGE, Global BPgen, and ICBP Consortia.

Although age-dependent effects on blood pressure (BP) have been reported, they have not been systematically investigated in large-scale genome-wide association studies (GWASs). We leveraged the infrastructure of three well-established consortia (CHARGE, GBPgen, and ICBP) and a nonstandard approach (age stratification and metaregression) to conduct a genome-wide search of common variants with age-dependent effects on systolic (SBP), diastolic (DBP), mean arterial (MAP), and pulse (PP) pressure. In a two-staged design using 99,241 individuals of European ancestry, we identified 20 genome-wide significant (p ≤ 5 × 10(-8)) loci by using joint tests of the SNP main effect and SNP-age interaction. Nine of the significant loci demonstrated nominal evidence of age-dependent effects on BP by tests of the interactions alone. Index SNPs in the EHBP1L1 (DBP and MAP), CASZ1 (SBP and MAP), and GOSR2 (PP) loci exhibited the largest age interactions, with opposite directions of effect in the young versus the old. The changes in the genetic effects over time were small but nonnegligible (up to 1.58 mm Hg over 60 years). The EHBP1L1 locus was discovered through gene-age interactions only in whites but had DBP main effects replicated (p = 8.3 × 10(-4)) in 8,682 Asians from Singapore, indicating potential interethnic heterogeneity. A secondary analysis revealed 22 loci with evidence of age-specific effects (e.g., only in 20 to 29-year-olds). Age can be used to select samples with larger genetic effect sizes and more homogenous phenotypes, which may increase statistical power. Age-dependent effects identified through novel statistical approaches can provide insight into the biology and temporal regulation underlying BP associations.

Homeostatic and circadian contribution to EEG and molecular state variables of sleep regulation.

STUDY OBJECTIVES: Besides their well-established role in circadian rhythms, our findings that the forebrain expression of the clock-genes Per2 and Dbp increases and decreases, respectively, in relation to time spent awake suggest they also play a role in the homeostatic aspect of sleep regulation. Here, we determined whether time of day modulates the effects of elevated sleep pressure on clock-gene expression. Time of day effects were assessed also for recognized electrophysiological (EEG delta power) and molecular (Homer1a) markers of sleep homeostasis. DESIGN: EEG and qPCR data were obtained for baseline and recovery from 6-h sleep deprivation starting at ZT0, -6, -12, or -18. SETTING: Mouse sleep laboratory. PARTICIPANTS: Male mice. INTERVENTIONS: Sleep deprivation. RESULTS: The sleep-deprivation induced changes in Per2 and Dbp expression importantly varied with time of day, such that Per2 could even decrease during sleep deprivations occurring at the decreasing phase in baseline. Dbp showed similar, albeit opposite dynamics. These unexpected results could be reliably predicted assuming that these transcripts behave according to a driven damped harmonic oscillator. As expected, the sleep-wake distribution accounted for a large degree of the changes in EEG delta power and Homer1a. Nevertheless, the sleep deprivation-induced increase in delta power varied also with time of day with higher than expected levels when recovery sleep started at dark onset. CONCLUSIONS: Per2 and delta power are widely used as exclusive state variables of the circadian and homeostatic process, respectively. Our findings demonstrate a considerable cross-talk between these two processes. As Per2 in the brain responds to both sleep loss and time of day, this molecule is well positioned to keep track of and to anticipate homeostatic sleep need. CITATION: Curie T; Mongrain V; Dorsaz S; Mang GM; Emmenegger Y; Franken P. Homeostatic and circadian contribution to EEG and molecular state variables of sleep regulation. SLEEP 2013;36(3):311-323.

Requirement of glucose metabolism for regulation of glucose transporter type 2 (GLUT2) gene expression in liver.

Previous studies have shown that glucose increases the glucose transporter (GLUT2) mRNA expression in the liver in vivo and in vitro. Here we report an analysis of the effects of glucose metabolism on GLUT2 gene expression. GLUT2 mRNA accumulation by glucose was not due to stabilization of its transcript but rather was a direct effect on gene transcription. A proximal fragment of the 5' regulatory region of the mouse GLUT2 gene linked to a reporter gene was transiently transfected into liver GLUT2-expressing cells. Glucose stimulated reporter gene expression in these cells, suggesting that glucose-responsive elements were included within the proximal region of the promoter. A dose-dependent effect of glucose on GLUT2 expression was observed over 10 mM glucose irrespective of the hexokinase isozyme (glucokinase K(m) 16 mM; hexokinase I K(m) 0.01 mM) present in the cell type used. This suggests that the correlation between extracellular glucose and GLUT2 mRNA concentrations is simply a reflection of an activation of glucose metabolism. The mediators and the mechanism responsible for this response remain to be determined. In conclusion, glucose metabolism is required for the proper induction of the GLUT2 gene in the liver and this effect is transcriptionally regulated.

Determinants of Corporate Disclosure : A Multicountry, Multilevel Model

Abstract The complexity of the current business world is making corporate disclosure more and more important for information users. These users, including investors, financial analysts, and government authorities rely on the disclosed information to make their investment decisions, analyze and recommend shares, and to draft regulation policies. Moreover, the globalization of capital markets has raised difficulties for information users in understanding the differences incorporate disclosure across countries and across firms. Using a sample of 797 firms from 34 countries, this thesis advances the literature on disclosure by illustrating comprehensively the disclosure determinants originating at firm systems and national systems based on the multilevel latent variable approach. Under this approach, the overall variation associated with the firm-specific variables is decomposed into two parts, the within-country and the between-country part. Accordingly, the model estimates the latent association between corporate disclosure and information demand at two levels, the within-country and the between-country level. The results indicate that the variables originating from corporate systems are hierarchically correlated with those from the country environment. The information demand factor indicated by the number of exchanges listed and the number of analyst recommendations can significantly explain the variation of corporate disclosure for both "within" and "between" countries. The exogenous influences of firm fundamentals-firm size and performance-are exerted indirectly through the information demand factor. Specifically, if the between-country variation in firm variables is taken into account, only the variables of legal systems and economic growth keep significance in explaining the disclosure differences across countries. These findings strongly support the hypothesis that disclosure is a response to both corporate systems and national systems, but the influence of the latter on disclosure reflected significantly through that of the former. In addition, the results based on ADR (American Depositary Receipt) firms suggest that the globalization of capital markets is harmonizing the disclosure behavior of cross-boundary listed firms, but it cannot entirely eliminate the national features in disclosure and other firm-specific characteristics.