25 resultados para Financing and Expansion

em CentAUR: Central Archive University of Reading - UK


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We know little about the genomic events that led to the advent of a multicellular grade of organization in animals, one of the most dramatic transitions in evolution. Metazoan multicellularity is correlated with the evolution of embryogenesis, which presumably was underpinned by a gene regulatory network reliant on the differential activation of signaling pathways and transcription factors. Many transcription factor genes that play critical roles in bilaterian development largely appear to have evolved before the divergence of cnidarian and bilaterian lineages. In contrast, sponges seem to have a more limited suite of transcription factors, suggesting that the developmental regulatory gene repertoire changed markedly during early metazoan evolution. Using whole- genome information from the sponge Amphimedon queenslandica, a range of eumetazoans, and the choanoflagellate Monosiga brevicollis, we investigate the genesis and expansion of homeobox, Sox, T- box, and Fox transcription factor genes. Comparative analyses reveal that novel transcription factor domains ( such as Paired, POU, and T- box) arose very early in metazoan evolution, prior to the separation of extant metazoan phyla but after the divergence of choanoflagellate and metazoan lineages. Phylogenetic analyses indicate that transcription factor classes then gradually expanded at the base of Metazoa before the bilaterian radiation, with each class following a different evolutionary trajectory. Based on the limited number of transcription factors in the Amphimedon genome, we infer that the genome of the metazoan last common ancestor included fewer gene members in each class than are present in extant eumetazoans. Transcription factor orthologues present in sponge, cnidarian, and bilaterian genomes may represent part of the core metazoan regulatory network underlying the origin of animal development and multicellularity.

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Biomass allocation to above- and belowground compartments in trees is thought to be affected by growth conditions. To assess the strength of such influences, we sampled six Norway spruce forest stands growing at higher altitudes. Within these stands, we randomly selected a total of 77 Norway spruce trees and measured volume and biomass of stem, above- and belowground stump and all roots over 0.5 cm diameter. A comparison of our observations with models parameterised for lower altitudes shows that models developed for specific conditions may be applicable to other locations. Using our observations, we developed biomass functions (BF) and biomass conversion and expansion factors (BCEF) linking belowground biomass to stem parameters. While both BF and BCEF are accurate in belowground biomass predictions, using BCEF appears more promising as such factors can be readily used with existing forest inventory data to obtain estimates of belowground biomass stock. As an example, we show how BF and BCEF developed for individual trees can be used to estimate belowground biomass at the stand level. In combination with existing aboveground models, our observations can be used to quantify total standing biomass of high altitude Norway spruce stands.

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Roots, stems, branches and needles of 160 Norway spruce trees younger than 10 years were sampled in seven forest stands in central Slovakia in order to establish their biomassfunctions (BFs) and biomassexpansionfactors (BEFs). We tested three models for each biomass pool based on the stem base diameter, tree height and the two parameters combined. BEF values decreased for all spruce components with increasing height and diameter, which was most evident in very young trees under 1 m in height. In older trees, the values of BEFs did tend to stabilise at the height of 3–4 m. We subsequently used the BEFs to calculate dry biomass of the stands based on average stem base diameter and tree height. Total stand biomass grew with increasing age of the stands from about 1.0 Mg ha−1 at 1.5 years to 44.3 Mg ha−1 at 9.5 years. The proportion of stem and branch biomass was found to increase with age, while that of needles was fairly constant and the proportion of root biomass did decrease as the stands grew older.

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We examine the internal equity financing of the multinational subsidiary which retains and reinvests its own earnings. Internal equity financing is a type of firm-specific advantage (FSA) along with other traditional FSAs in innovation, research and development, brands and management skills. It also reflects subsidiary-level financial management decision-making. Here we test the contributions of internal equity financing and subsidiary-level financial management decision-making to subsidiary performance, using original survey data from British multinational subsidiaries in six emerging countries in the South East Asia region. Our first finding is that internal equity financing acts as an FSA to improve subsidiary performance. Our second finding is that over 90% of financing sources (including capital investment by the parent firms) in the British subsidiaries come from internal funding. Our third finding is that subsidiary-level financial management decision-making has a statistically significant positive impact on subsidiary performance. Our findings advance the theoretical, empirical and managerial analysis of subsidiary performance in emerging economies.

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Surface properties of gluten proteins were measured in a dilation test and in compression and expansion tests. The results showed that monomeric gliadin was highly surface active, but polymer glutenin had almost no surface activity. The locations of those proteins in bread dough were investigated using confocal scanning laser microscopy and compared with polar and nonpolar lipids. Added gluten proteins participated in the formation of the film or the matrix, surrounding and separating individual gas cells in bread dough. Gliadin was found in the bulk of dough and gas 'cell walls'. Glutenin was found only in the bulk dough. Polar lipids were present in the protein matrix and in gas 'cell walls', as well as at the surface of some particles, which appeared to be starch granules. However, nonpolar lipid mainly occur-red on the surface of particles, which may be starch granules and small lipid droplets. It is suggested that the locations of gluten proteins in bread dough depends on their surface properties. Polar lipid participates the formation of gluten protein matrix and gas 'cell walls'. Nonpolar lipids may have an effect on the rheological properties by associating with starch granule surfaces and may form lipid droplets. (C) 2004 Published by Elsevier Ltd.

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Biomass conversion and expansion factors (BCEF) which convert tree stem volume to whole tree biomass and biomass allocation patterns in young trees were studied in order to estimate tree and stand biomass in naturally regenerated forests. European beech (Fagus sylvatica L.), Sessile oak (Quercus petraea (Mattuschka) Liebl.) and Scots pine (Pinus sylvestris L.) stands were compared. Seven forest stands of each species were chosen to cover their natural distribution in Slovakia. Species specific BCEF are presented, generally showing a steep decrease in all species in the smallest trees, with the only exception in the case of branch BCEF in beech which grows with increasing tree size. The values of BCEF for all tree compartments stabilise in all species once trees reach about 60-70mm diameter at base. As they grow larger, all species increase their allocation to stem and branches, while decreasing the relative growth of roots and foliage. There are, however, clear differences between species and also between broadleaves and conifers in biomass allocation. This research shows that species specific coefficients must be used if we are to reduce uncertainties in estimates of carbon stock changes by afforestation and reforestation activities.

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Purpose – Expectations of future market conditions are acknowledged to be crucial for the development decision and hence for shaping the built environment. The purpose of this paper is to study the central London office market from 1987 to 2009 and test for evidence of rational, adaptive and naive expectations. Design/methodology/approach – Two parallel approaches are applied to test for either rational or adaptive/naive expectations: vector auto-regressive (VAR) approach with Granger causality tests and recursive OLS regression with one-step forecasts. Findings – Applying VAR models and a recursive OLS regression with one-step forecasts, the authors do not find evidence of adaptive and naïve expectations of developers. Although the magnitude of the errors and the length of time lags between market signal and construction starts vary over time and development cycles, the results confirm that developer decisions are explained, to a large extent, by contemporaneous and historic conditions in both the City and the West End, but this is more likely to stem from the lengthy design, financing and planning permission processes rather than adaptive or naive expectations. Research limitations/implications – More generally, the results of this study suggest that real estate cycles are largely generated endogenously rather than being the result of large demand shocks and/or irrational behaviour. Practical implications – Developers may be able to generate excess profits by exploiting market inefficiencies but this may be hindered in practice by the long periods necessary for planning and construction of the asset. Originality/value – This paper focuses the scholarly debate of real estate cycles on the role of expectations. It is also one of very few spatially disaggregate studies of the subject matter.

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The radiocarbon-dated palaeoecological study of Lago Riane (Ligurian Apennines, NW Italy) presented here forms part of a wider investigation into the relationships between Holocene vegetation succession, climate change and human activities in the northern Apennines. The record of vegetation history from Lago Riane indicates that, since the end of the last glaciation, climate change and prehistoric human activities, combined with several local factors, have strongly influenced the pattern and timing of natural vegetation succession. The pollen record indicates an important change in vegetation cover at Lago Riane at ~8500–8200 cal. years b.p., coincident with a well-known period of rapid climate change. At ~6100 cal. years b.p., Fagus woodland colonised Lago Riane during a period of climate change and expansion of Late Neolithic human activities in the upland zone of Liguria. A marked decline in Abies woodland, and the expansion of Fagus woodland, at ~4700 cal. years b.p., coincided with further archaeological evidence for pastoralism in the mountains of Liguria during the Copper Age. At ~3900–3600 cal. years b.p. (Early to Middle Bronze Age transition), a temporary expansion of woodland at Lago Riane has been provisionally attributed to a decline in human pressure on the environment during a period of short-term climate change

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Under increasing greenhouse gas concentrations, ocean heat uptake moderates the rate of climate change, and thermal expansion makes a substantial contribution to sea level rise. In this paper we quantify the differences in projections among atmosphere-ocean general circulation models of the Coupled Model Intercomparison Project in terms of transient climate response, ocean heat uptake efficiency and expansion efficiency of heat. The CMIP3 and CMIP5 ensembles have statistically indistinguishable distributions in these parameters. The ocean heat uptake efficiency varies by a factor of two across the models, explaining about 50% of the spread in ocean heat uptake in CMIP5 models with CO2 increasing at 1%/year. It correlates with the ocean global-mean vertical profiles both of temperature and of temperature change, and comparison with observations suggests the models may overestimate ocean heat uptake and underestimate surface warming, because their stratification is too weak. The models agree on the location of maxima of shallow ocean heat uptake (above 700 m) in the Southern Ocean and the North Atlantic, and on deep ocean heat uptake (below 2000 m) in areas of the Southern Ocean, in some places amounting to 40% of the top-to-bottom integral in the CMIP3 SRES A1B scenario. The Southern Ocean dominates global ocean heat uptake; consequently the eddy-induced thickness diffusivity parameter, which is particularly influential in the Southern Ocean, correlates with the ocean heat uptake efficiency. The thermal expansion produced by ocean heat uptake is 0.12 m YJ−1, with an uncertainty of about 10% (1 YJ = 1024 J).

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The global vegetation response to climate and atmospheric CO2 changes between the last glacial maximum and recent times is examined using an equilibrium vegetation model (BIOME4), driven by output from 17 climate simulations from the Palaeoclimate Modelling Intercomparison Project. Features common to all of the simulations include expansion of treeless vegetation in high northern latitudes; southward displacement and fragmentation of boreal and temperate forests; and expansion of drought-tolerant biomes in the tropics. These features are broadly consistent with pollen-based reconstructions of vegetation distribution at the last glacial maximum. Glacial vegetation in high latitudes reflects cold and dry conditions due to the low CO2 concentration and the presence of large continental ice sheets. The extent of drought-tolerant vegetation in tropical and subtropical latitudes reflects a generally drier low-latitude climate. Comparisons of the observations with BIOME4 simulations, with and without consideration of the direct physiological effect of CO2 concentration on C3 photosynthesis, suggest an important additional role of low CO2 concentration in restricting the extent of forests, especially in the tropics. Global forest cover was overestimated by all models when climate change alone was used to drive BIOME4, and estimated more accurately when physiological effects of CO2 concentration were included. This result suggests that both CO2 effects and climate effects were important in determining glacial-interglacial changes in vegetation. More realistic simulations of glacial vegetation and climate will need to take into account the feedback effects of these structural and physiological changes on the climate.

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New compilations of African pollen and lake data are compared with climate (CCM1, NCAR, Boulder) and vegetation (BIOME 1.2, GSG, Lund) simulations for the last glacial maximum (LGM) and early to mid-Holocene (EMH). The simulated LGM climate was ca 4°C colder and drier than present, with maximum reduction in precipitation in semi-arid regions. Biome simulations show lowering of montane vegetation belts and expansion of southern xerophytic associations, but no change in the distribution of deserts and tropical rain forests. The lakes show LGM conditions similar or drier than present throughout northern and tropical Africa. Pollen data indicate lowering of montane vegetation belts, the stability of the Sahara, and a reduction of rain forest. The paleoenvironmental data are consistent with the simulated changes in temperature and moisture budgets, although they suggest the climate model underestimates equatorial aridity. EMH simulations show temperatures slightly less than present and increased monsoonal precipitation in the eastern Sahara and East Africa. Biome simulations show an upward shift of montane vegetation belts, fragmentation of xerophytic vegetation in southern Africa, and a major northward shift of the southern margin of the eastern Sahara. The lakes indicate conditions wetter than present across northern Africa. Pollen data show an upward shift of the montane forests, the northward shift of the southern margin of the Sahara, and a major extension of tropical rain forest. The lake and pollen data confirm monsoon expansion in eastern Africa, but the climate model fails to simulate the wet conditions in western Africa.

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On 7 December 1992, a moderate substorm was observed by a variety of satellites and ground-based instruments. Ionospheric flows were monitored near dusk by the Goose Bay HF radar and near midnight by the EISCAT radar. The observed flows are compared here with magnetometer observations by the IMAGE array in Scandinavia and the two Greenland chains, the auroral distribution observed by Freja and the substorm cycle observations by the SABRE radar, the SAMNET magnetometer array and LANL geosynchronous satellites. Data from Galileo Earth-encounter II are used to estimate the IMF B-z component. The data presented show that the substorm onset electrojet at midnight was confined to closed field lines equatorward of the preexisting convection reversal boundaries observed in the dusk and midnight regions. No evidence of substantial closure of open flux was detected following this substorm onset. Indeed the convection reversal boundary on the duskside continued to expand equatorward after onset due to the continued presence of strong southward IMF, such that growth and expansion phase features were simultaneously present. Clear indications of closure of open flux were not observed until a subsequent substorm intensification 25 min after the initial onset. After this time, the substorm auroral bulge in the nightside hours propagated well poleward of the pre-existing convection reversal boundary, and strong flow perturbations were observed by the Goose Bay radar, indicative of flows driven by reconnection in the tail.

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During substorms, magnetic energy is stored and released by the geomagnetic tail in cycles of growth and expansion phases, respectively. Hence substorms are inherently non-steady phenomena. On the other hand, all numerical models (and most conceptual ones) of ionospheric convection produced to date have considered only steady-state situations. In this paper, we investigate the relationship of substorms to convection. In particular, it is shown that the steady-state convection pattern represents an average over several substorm cycles and does not apply on time scales shorter than the substorm cycle period of 1-2 hours. The flows driven by the growth and expansion phases of substorms are integral (indeed dominant) part of, as opposed to a transient addition to, the overall convection pattern.

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This paper evaluates the impact of the crusades on the landscape and environment of northern Latvia between the 13th–16th centuries (medieval Livonia). The crusades replaced tribal societies in the eastern Baltic with a religious state (Ordenstaat) run by the military orders and their allies, accompanied by significant social, cultural and economic developments. These changes have previously received little consideration in palaeoenvironmental studies of past land use in the eastern Baltic region, but are fundamental to understanding the development and expansion of a European Christian identity. Sediment cores from Lake Trikāta, located adjacent to a medieval castle and settlement, were studied using pollen, macrofossils, loss-on-ignition and magnetic susceptibility. Our results show that despite continuous agricultural land use from 500 BC, the local landscape was still densely wooded until the start of the crusades in AD 1198 when a diversified pattern of pasture, meadow and arable land use was established. Colonisation followed the crusades, although in Livonia this occurred on a much smaller scale than in the rest of the Ordenstaat; Trikāta is atypical showing significant impact following the crusades with many other palaeoenvironmental studies only revealing more limited impact from the 14th century and later. Subsequent wars and changes in political control in the post-medieval period had little apparent effect on agricultural land use.