Board composition, board activity and ownership concentration, the impact on firm performance

This paper provides a parallel investigation on the impact of board composition, board activity and ownership concentration on the performance of listed Chinese firms. We find that independent directors enhance firm performance effectively than other board factors. The frequency of shareholder meetings, rather than board meetings, is positively associated with firm value. Tradable share ownership concentration has a positive and linear relationship with firm value, while state and total share ownership concentration represent U(V) shapes. Importantly, companies with the highest levels of both total share and tradable share ownership concentration have a greater firm values than companies with the highest levels of only a single concentration.

Growth performance, feed efficiency and fatty acid composition of juvenile Murray cod, Maccullochella peelii peelii, fed graded levels of canola and linseed oil

n two independent experiments, the effects of dietary inclusion of canola and linseed oil were evaluated in juvenile Murray cod (Maccullochella peelii peelii, Mitchell) over a 112-day period. In each experiment, fish received one of five semi-purified diets in which the dietary fish oil was replaced with canola oil (Experiment A) or linseed oil (Experiment B) in graded increments of 25% (0–100%). Murray cod receiving the graded canola and linseed oil diets ranged in final weight from 112.7 ± 7.6 to 73.8 ± 9.9 g and 93.9 ± 3.6 to 74.6 ± 2.2 g, respectively, and exhibited a negative trend in growth as the inclusion level increased. The fatty acid composition of the fillet and liver were modified extensively to reflect the fatty acid composition of the respective diets. Levels of oleic acid (18:1 n-9) and linoleic acid (18:2 n-6) increased with each level of canola oil inclusion while levels of α-linolenic acid (18:3 n-3) increased with each level of linseed oil inclusion. The concentration of n-3 highly unsaturated fatty acids in the fillet and liver decreased as the amount of vegetable oil in the diets increased. It is shown that the replacement of fish oil with vegetable oils in low fish meal diets for Murray cod is possible to a limited extent. Moreover, this study reaffirms the suggestion for the need to conduct ingredient substitution studies for longer periods and where possible to base the conclusions on regression analysis in addition to anova.

Effects of creatine loading and prolonged creatine supplementation of body composition, fuel selection, sprint and endurance performance in humans

Most research on creatine has focused on short-term creatine loading and its effect on high-intensity performance capacity. Some studies have investigated the effect of prolonged creatine use during strength training. However, studies on the effects of prolonged creatine supplementation are lacking. In the present study, we have assessed the effects of both creatine loading and prolonged supplementation on muscle creatine content, body composition, muscle and whole-body oxidative capacity, substrate utilization during submaximal exercise, and on repeated supramaximal sprint, as well as endurance-type time-trial performance on a cycle ergometer. Twenty subjects ingested creatine or a placebo during a 5-day loading period (20g·day^-1) after which supplementation was continued for up to 6 weeks (2g·day^-1). Creatine loading increased muscle free creatine, creatine phosphate (CrP) and total creatine content (P<0.05). The subsequent use of a 2g·day^-1 maintenance dose, as suggested by an American College of Sports Medicine Roundtable, resulted in a decline in both the elevated CrP and total creatine content and maintenance of the free creatine concentration. Both short- and long-term creatine supplementation improved performance during repeated supramaximal sprints on a cycle ergometer. However, whole-body and muscle oxidative capacity, substrate utilization and time-trial performance were not affected. The increase in body mass following creatine loading was maintained after 6 weeks of continued supplementation and accounted for by a corresponding increase in fat-free mass. This study provides definite evidence that prolonged creatine supplementation in humans does not increase muscle or whole-body oxidative capacity and, as such, does not influence substrate utilization or performance during endurance cycling exercise. In addition, our findings suggest that prolonged creatine ingestion induces an increase in fat-free mass.

Composition effects in polyetherurethane-based solid polymer electrolytes

Nuclear magnetic resonance spectroscopy (n.m.r.), dynamic mechanical thermal analysis (d.m.t.a.) and AC impedance techniques have been used in combination to probe the effect of electrolyte composition in an archetypal solid polymer electrolyte (SPE). A series of solid polymer electrolytes (SPEs) based on a urethane-crosslinked trifunctional poly(ethylene glycol) polymer host containing dissolved ionic species (LiClO₄ and LiCF₃SO₃) have been studied. D.m.t.a. has established that increasing LiClO₄ concentration causes a decrease in the polymer segmental mobility, owing to the formation of transient crosslinks via cation-polymer interaction. Investigation of the distribution of mechanical/structural relaxation times for the LiClO₄/polymer complex with d.m.t.a. reveals that increasing LiClO₄ concentration causes a slight broadening of the distribution, indicating a more heterogeneous environment. Results of n.m.r. ⁷Li T₁ and T₂ relaxation experiments support the idea that higher salt concentrations encourage ionic aggregation. This is of critical importance in determining the conductivity of the material since it affects the number of charge carriers available. Introduction of the plasticiser tetraglyme into the LiClO₄-based SPEs suppresses the glass transition temperature of the SPE, and causes a significant broadening of the relaxation time distribution (as measured by d.m.t.a.).

Changes in oil content, lipid class and fatty acid composition of the microalga Chaetoceros calcitrans over different phases of batch culture

 Abstract
The diatom Chaetoceros calcitrans is a microalgal species used as food for larva in aquaculture for many species worldwide. Chaetoceros calcitrans is an important source of omega 3 long chain (C ≥ 20) polyunsaturated fatty acids (n-3 LC PUFA), chiefly eicosapentaenoic acid (EPA, 20:5n-3). This article reports lipid content, lipid class composition and fatty acid profiles of each lipid class during the growth cycle of batch cultures of C. calcitrans. Total lipid content and the concentration of neutral lipid were highest in the late stationary growth phase (day 12). However, the amount of EPA was highest during the logarithmic growth phase (1.24 pg/cell on day 4). EPA was initially concentrated in the glycolipid fraction, but this fraction decreased during logarithmic growth, coinciding with the increase in neutral lipid. Docosahexaenoic acid (22:6n-3, DHA) (0.91 pg/cell) was reported as a major fatty acid (>10 mg/100 g) in all lipid classes on day 1. DHA was depleted quickly from the neutral lipid and glycolipid classes, but at a slower rate from the polar lipid fraction. This work confirms that C. calcitrans is a good source of lipid, in particular EPA, for larval and adult filter feeders in aquaculture.

Composition-optimized synthetic graphite/polymer nanocomposites

In this study the optimization design, fabrication and characterization of synthetic graphite/phenolic nanocomposites are performed. The composition of synthetic graphite/phenolic nanocomposites was controlled across the thickness by stacking eight homogeneous layers containing 0, 5, 10, and 20wt% synthetic graphite in different sequences. Four compositional gradient patterns, as well as a homogenous nanocomposite, with the same geometry and synthetic graphite content, were fabricated to investigate the optimized design for thermomechanical properties. Results show that nanocomposites with a high concentration of synthetic graphite on the surfaces and neat resin at the center have the best thermomechanical and viscoelastic properties.

Effects of forage type and extruded linseed supplementation on methane production and milk fatty acid composition of lactating dairy cows

Replacing dietary grass silage (GS) with maize silage (MS) and dietary fat supplements may reduce milk concentration of specific saturated fatty acids (SFA) and can reduce methane production by dairy cows. The present study investigated the effect of feeding an extruded linseed supplement on milk fatty acid (FA) composition and methane production of lactating dairy cows, and whether basal forage type, in diets formulated for similar neutral detergent fiber and starch, altered the response to the extruded linseed supplement. Four mid-lactation Holstein-Friesian cows were fed diets as total mixed rations, containing either high proportions of MS or GS, both with or without extruded linseed supplement, in a 4×4 Latin square design experiment with 28-d periods. Diets contained 500 g of forage/kg of dry matter (DM) containing MS and GS in proportions (DM basis) of either 75:25 or 25:75 for high MS or high GS diets, respectively. Extruded linseed supplement (275 g/kg ether extract, DM basis) was included in treatment diets at 50 g/kg of DM. Milk yields, DM intake, milk composition, and methane production were measured at the end of each experimental period when cows were housed in respiration chambers. Whereas DM intake was higher for the MS-based diet, forage type and extruded linseed had no significant effect on milk yield, milk fat, protein, or lactose concentration, methane production, or methane per kilogram of DM intake or milk yield. Total milk fat SFA concentrations were lower with MS compared with GS-based diets (65.4 vs. 68.4 g/100 g of FA, respectively) and with extruded linseed compared with no extruded linseed (65.2 vs. 68.6 g/100 g of FA, respectively), and these effects were additive. Concentrations of total trans FA were higher with MS compared with GS-based diets (7.0 vs. 5.4 g/100 g of FA, respectively) and when extruded linseed was fed (6.8 vs. 5. 6g/100 g of FA, respectively). Total n-3 FA were higher when extruded linseed was fed compared with no extruded linseed (1.2 vs. 0.8 g/100 g of FA, respectively), whereas total n-6 polyunsaturated FA were higher when feeding MS compared with GS (2.5 vs. 2.1 g/100 g of FA, respectively). Feeding extruded linseed and MS both provided potentially beneficial decreases in SFA concentration of milk, and no significant interactions were found between extruded linseed supplementation and forage type. However, both MS and extruded linseed increased trans FA concentration in milk fat. Neither MS nor extruded linseed had significant effects on methane production or yield, but the amounts of supplemental lipid provided by extruded linseed were relatively small.

Effects of resistance or aerobic exercise training on interleukin-6, C-reactive protein, and body composition

PURPOSE: To determine the effects of 10 wk of resistance or aerobic exercise training on interleukin-6 (IL-6) and C-reactive protein (CRP). Further, to determine pretraining and posttraining associations between alterations of IL-6 and CRP and alterations of total body fat mass (TB-FM), intra-abdominal fat mass (IA-FM), and total body lean mass (TB-LM). METHODS: A sample of 102 sedentary subjects were assigned to a resistance group (n = 35), an aerobic group (n = 41), or a control group (n = 26). Before and after intervention, subjects were involved in dual-energy x-ray absorptiometry, muscular strength and aerobic fitness, measurements and further provided a resting fasted venous blood sample for measures of IL-6, CRP, cholesterol profile, triglycerides, glucose, insulin, and glycosylated hemoglobin. The resistance and the aerobic groups completed a respective 10-wk supervised and periodized training program, whereas the control group maintained sedentary lifestyle and dietary patterns. RESULTS: Both exercise training programs did not reduce IL-6; however, the resistance and the aerobic groups reduced CRP by 32.8% (P < 0.05) and 16.1% (P = 0.06), respectively. At baseline, CRP was positively correlated with IL-6 (r = 0.35), (TB-FM) (r = 0.36), and IA-FM (r = 0.31) and was inversely correlated with aerobic fitness measures (all r values > or = -0.24). Compared with the resistance and the control groups, the aerobic group exhibited significant (P < 0.05) improvements in all aerobic fitness measures and significant reductions in IA-FM (7.4%) and body mass (1.1%). Compared with the aerobic and the control groups, the resistance group significantly (P < 0.05) improved TB-FM (3.7%) and upper (46.3%) and lower (56.6%) body strength. CONCLUSION: Despite no alteration in baseline IL-6 and significantly smaller reductions in measures of adipose tissue as compared with the aerobic training group, only resistance exercise training resulted in significant attenuation of CRP concentration.

Structure and mechanical property variations in Mg-Gd-Y-Zn-Zr alloy depending on its composition and processing conditions

An effect of alloying element content on mechanical properties and precipitate formation in Mg-RE alloys was studied for Mg-8Gd-4Y- 1Zn-0.4Zr (wt%) and Mg-10Gd-5Y-1.8Zn-0.4Zr (wt%). It is shown that small variations in the alloying element concentration can be used to manipulate the alloy microstructure and precipitate formation towards eliminating the asymmetry (tension/compression) and anisotropy of yield stress.