Workers cooperation within the firm: an analysis using small and medium size firms

We investigate the determinants of teamwork and workers cooperation within the firm. Up to now the literature has almost exclusively focused on workers incentives as the main determinants for workers cooperation. We take a broader look at the firm's organizational design and analyze the impact that different aspects of it might have on cooperation. In particular, we consider the way in which the degree of decentralization of decisions and the use of complementary HRM practices (what we call the .rm.s vertical organizational design) can affect workers'collaboration with each other. We test the model's predictions on a unique dataset on Spanish small and medium size firms containing a rich set of variables that allows us to use sensible proxies for workers cooperation. We find that the decentralization of labor decisions (and to a less extent that of task planning) has a positive impact on workers cooperation. Likewise, cooperation is positively correlated to many of the HRM practices that seem to favor workers'interaction the most. We also confirm the previous finding that collaborative efforts respond positively to pay incentives, and particularly, to group or company incentives.

Environmental and biological controls on the geochemistry (δ18O, δ13C, Mg/Ca, and Sr/Ca) of living ostracods from Lake Geneva

ABSTRACT : Ostracods are benthic microcrustaceans enclosed in low-Mg calcite bivalves. Stable isotope compositions, Mg/Ca, and Sr/Ca ratios of ostracod fossil valves have proven useful to reconstruct past environmental conditions. Yet, several discrepancies persist and the influence of many factors remains unclear. It is the aim of this study to improve the use of ostracod valve geochemistry as palaeoenvironmental proxies by examining the extent of isotope fractionation and trace element partitioning during valve calcification. To achieve this, the environmental parameters (pH, temperature) and chemical composition of water (C-and O-isotope composition and calcium, magnesium, and strontium content) were measured at sites where living ostracods were sampled. The sampling was on a monthly basis over the course of one year at five different water depths (2, 5, 13, 33, and 70 m) in Lake Geneva, Switzerland. The one-year sampling enabled collection of environmental data for bottom and interstitial pore water. In littoral to sublittoral zones, C-isotope composition of DIC and the Mg/Ca and Sr/Ca ratios of water are found to vary concomitantly with water temperature. This is due to the precipitation of calcite, which is induced by higher photosynthetic activity as temperature and/or solar radiation intensify in summer. In deeper zones, environmental parameters remain largely constant throughout the year. Variations of pH, DIC concentrations and C-isotope compositions in interstitial water result from aerobic as well as anaerobic respiration, calcite dissolution and methanogenesis. Bathymetric distribution, life cycles, and habitats were derived for 15 ostracod species and are predominantly related to water temperature and sediment texture. O-isotope compositions of ostracod valves in Lake Geneva reflect that of water and temperature. However, offsets of up to 3 permil are observed in comparison with proposed inorganic calcite precipitation equilibrium composition. Deprotonation of HCO3- and/or salt effect at crystallisation sites may explain the disequilibrium observed for O-isotopic compositions. C-isotope compositions of ostracod valves are not as well constrained and appear to be controlled by a complex interaction between habitat preferences and seasonal as well as spatial variations of the DIC isotope composition. For infaunal forms, C-isotope compositions reflect mainly the variation of DIC isotope composition in interstitial pore waters. For epifaunal forms, C-isotope compositions reflect the seasonal variation of DIC isotope compositions. C-isotope compositions of ostracod valves is at equilibrium with DIC except for a small number of species (L. inopinata, L. sanctipatricii and possibly C. ophtalmica, and I. beauchampi). Trace element uptake differs considerably from species to species. For most epifaunal forms, trace element content follows the seasonal cycle, recording temperature increases and/or variations of Mg/Ca and Sr/Ca ratios of water. In contrast, infaunal forms are predominantly related to sediment pore water chemistry. RÉSUMÉ EN FRANÇAIS : Les ostracodes sont de petits crustacés benthiques qui possèdent une coquille faite de calcite à faible teneur en magnésium. La composition isotopique et les rapports Mg/Ca et Sr/Ca d'ostracodes fossiles ont été utilisés maintes fois avec succès pour effectuer des reconstructions paléoenvironnementales. Néanmoins, certains désaccords persistent sur l'interprétation de ces données. De plus, l'influence de certains facteurs pouvant biaiser le signal reste encore inconnue. Ainsi, le but de cette étude est de rendre plus performant l'emploi de la composition géochimique des ostracodes comme indicateur paléoenvironnemental. Pour réaliser cela, cinq sites situés dans le Léman à 2, 5, 13, 33 et 70 m de profondeur ont été choisis pour effectuer les échantillonnages. Chaque site a été visité une fois par mois durant une année. Les différents paramètres environnementaux (pH, température) ainsi que la composition géochimique de l'eau (composition isotopique de l'oxygène et du carbone ainsi que teneur en calcium, magnésium et strontium) ont été déterminés pour chaque campagne. Des ostracodes vivants ont été récoltés au cinq sites en même temps que les échantillons d'eau. Ce travail de terrain a permis de caractériser la géochimie de l'eau se trouvant juste au-dessus des sédiments ainsi que celle de l'eau se trouvant dans les interstices du sédiment. Dans les zones littorales à sublittorales, la composition isotopique du carbone inorganique dissout (CID) ainsi que les rapports Mg/Ca et Sr/Ca de l'eau varient linéairement avec la température. Ceci peut être expliqué par la précipitation de calcite qui est contrôlée par l'activité photosynthétique, variant elle même linéairement avec la température. Dans les zones plus profondes, les paramètres environnementaux restent relativement constants tout au long de l'année. Les variations du pH, de la concentration et de la composition isotopique du CID dans les sédiments résultent de la libération de carbone engendrée par la dégradation de la matière organique avec présence d'oxygène ou via réduction de nitrates et de sulfates, par la dissolution de carbonates, ainsi que par la méthanogenèse. La distribution bathymétrique, le cycle de vie ainsi que l'habitat de 15 espèces ont été déterminés. Ceux-ci sont principalement reliés à la température de l'eau et à la texture des sédiments. La composition isotopique de l'oxygène des valves d'ostracodes reflète celle de l'eau et la température qui régnait lors de la calcification. Néanmoins, des écarts pouvant aller jusqu'à 3 0/00 par rapport à l'équilibre théorique ont été obtenus. La déprotonation de HCO3 ou un 'effet de sel' pourrait être à l'origine du déséquilibre observé. La composition isotopique du carbone des valves d'ostracodes n'est pas aussi bien cernée. Celle-ci semble être principalement contrôlée par une interaction complexe entre l'habitat des ostracodes et les variations saisonnières et spatiales de la composition isotopique du CID. Pour les espèces endofaunes, la composition isotopique du carbone reflète principalement la variation de la composition isotopique du CID à l'intérieur des sédiments. Pour les formes épifaunes, c'est la variation saisonnière de la composition du CID qui contrôle celle de la coquille des ostracodes. En général, la composition isotopique du carbone des valves d'ostracodes est en équilibre avec celle de CID, hormis pour quelques rares espèces (L. inopinata, L. sanctipatricii et peut-être C. ophtalmica et I. beauchampi). L'incorporation des éléments traces diffère passablement d'une espèce à l'autre. Pour la plupart des espèces épifaunes, la teneur en éléments traces des coquilles reflète les variations saisonnières. Ces espèces semblent enregistrer les variations soit de la température soit des rapports Mg/Ca et Sr/Ca de l'eau. La teneur en élément traces des formes infaunales, au contraire, est principalement reliée à la chimie de l'eau interstitielle. RÉSUMÉ GRAND-PUBLIC : La connaissance de l'évolution du climat dans le futur est primordiale pour notre société, car elle permet de développer différentes stratégies pour faire face aux problèmes engendrés pas le changement climatique : stratégies environnementale, humanitaire, ou encore économique. Cette problématique est actuellement, à juste titre, sujet d'une vive préoccupation. La géologie peut-elle contribuer à l'effort communautaire entrepris? Naturellement, ce sont les climatologues qui sont sur le devant de la scène. Il n'empêche que ces derniers, pour pouvoir prédire l'avenir, doivent s'appuyer sur le passé. La géologie est alors d'un grand intérêt car c'est effectivement la seule science qui permette d'estimer les variations climatiques à grande échelle sur de longues périodes. Ainsi, voulant moi-même contribuer aux recherches menées dans ce domaine, je me suis tourné à la fin de mes études vers la paléoclimatologie, science qui a pour but de reconstruire le climat des temps anciens. Nous nous sommes rendu compte que l'évolution climatique de la région où nous habitons n'avait pas encore fait le sujet d'études approfondies. Il est pourtant important de connaître la variation locale des changements climatiques pour obtenir des modèles climatiques fiables. En conséquence, un vaste projet a vu le jour : reconstruire, à l'aide des sédiments du lac Léman, les variations paléoclimatiques et paléo-environnementales depuis le retrait du Glacier de Rhône, il y a environ 15'000 ans, jusqu'à nos jours. Pour ce genre de travail, la géochimie, qui est une forme de chimie, utilisée en science de la terre regroupant la chimie classique et la chimie isotopique, est une alliée particulièrement efficace. Elle permet en effet, via différentes mesures faites sur des archives géologiques (par exemple des fossiles ou des sédiments) d'obtenir des informations, souvent quantitatives, sur les conditions (le climat, la flore ou encore la bio productivité, etc...) qui régnaient il y a fort longtemps. Les coquilles d'ostracodes, qui sont de petits animaux vivant au fond des lacs, sont une des archives les plus prometteuses. Ces animaux sont des petits crustacés s'entourant d'une coquille calcaire qu'ils sécrètent eux-mêmes. A la mort de l'animal, la coquille est intégrée dans les sédiments et reste intacte à travers les âges. Des études ont montré qu'en analysant la géochimie de ces coquilles fossiles, il est possible de reconstruire les conditions environnementales qui régnaient à l'époque de vie de ces fossiles. Cette démarche nécessite qu'une condition bien précise soit remplie: la composition géochimique de la coquille doit enregistrer de manière fidèle la chimie de l'eau et/ou la température de l'eau présentes au moment de la sécrétion de la coquille. Le but spécifique de notre recherche a précisément été d'étudier la façon dont la chimie de l'eau ainsi que sa température sont enregistrées dans la coquillé des ostracodes. Une fois les relations entre ces divers paramètres dans l'étant actuel du système établies, il sera alors possible de les utiliser pour interpréter des données issues de coquilles fossiles. Pour ce faire, nous avons mesuré la température de l'eau de manière continue et récolté mensuellement des échantillons d'eau et des ostracodes vivants pendant une année. Cinq sites situés à 2, 5, 13, 33 et 70 mètres de profondeur ont été choisis pour effectuer ces échantillonnages dans le Léman. Le travail de terrain nous a amené à étudier la biologie de 15 espèces. Nous avons pu établir la profondeur à laquelle vivent ces animaux, leur période de développement ainsi que leur habitat respectifs. Ces résultats ont permis de mieux cerner la relation qu'il existe entre la chimie de l'eau, sa température et la composition géochimique des coquilles d'ostracodes. Nous avons ainsi pu confirmer que les coquilles d'ostracodes enregistrent de manière fidèle la composition chimique et isotopique de l'eau. De même, nous avons pu établir de manière plus précise l'effet de la température sur la géochimie des coquilles. Néanmoins, les relations trouvées entre ces trois éléments sont plus complexes pour certaines espèces, cette complexité étant souvent liée à un caractère spécifique de leur écologie. Nous avons mis en lumière certains effets qui biaisent les résultats et défini précisément les conditions dans lesquelles on peut s'attendre à avoir des difficultés dans leur interprétation. Maintenant que nous avons établi les relations entre le climat actuel et la composition géochimique des coquilles d'ostracodes actuels, nous pouvons, sur la base de ce modèle, reconstruire le climat depuis le retrait du Glacier du Rhône jusqu'à nos jours à l'aide d'ostracodes fossiles. Mais cela est une autre histoire et fera, je l'espère, le sujet de nos futures recherches.

Bentho-planktonic evidence from the Austrian Alps for a decline in sea-surface carbonate production at the end of the Triassic

A high-resolution micropalaeontological study, combined with geochemical and sedimentological analyses was performed on the Tiefengraben, Schlossgraben and Eiberg sections (Austrian Alps) in order to characterize sea-surface carbonate production during the end-Triassic crisis. At the end-Rhaetian, the dominant calcareous nannofossil Prinsiosphaera triassica shows a decrease in abundance and size and this is correlated with a increase in delta O-18 and a gradual decline in delta C-13(carb) values. Simultaneously, benthic foraminiferal assemblages show a decrease in diversity and abundance of calcareous taxa and a dominance of infaunal agglutinated taxa. The smaller size of calcareous nannofossils disturbed the vertical export balance of the biological carbon pump towards the sea-bottom, resulting in changes in feeding strategies within the benthic foraminiferal assemblages from deposit feeders to detritus feeders and bacterial scavengers. These micropalaeontological data combined with geochemical proxies suggest that changes in seawater chemistry and/or cooling episodes might have occurred in the latest Triassic, leading to a marked decrease of carbonate production. This in turn culminated in the quasi-absence of calcareous nannofossils and benthic foraminifers in the latest Triassic. The aftermath (latest Triassic earliest Jurassic) was characterised by abundance peaks of ``disaster'' epifaunal agglutinated foraminifera Trochammina on the sea-floor. Central Atlantic Magmatic Province (CAMP) paroxysmal activity, superimposed on a major worldwide regressive phase, is assumed to be responsible for a deterioration in marine palaeoenvironments. CAMP sulfuric emissions might have been the trigger for cooling episodes and seawater acidification leading to disturbance of the surface carbonate production at the very end-Triassic.

Copy number variation and chromatin structure

The functional consequences of structural variation in the human genome range from adaptation, to phenotypic variation, to predisposition to diseases. Copy number variation (CNV) was shown to influence the phenotype by modifying, in a somewhat dose-dependent manner, the expression of genes that map within them, as well as that of genes located on their flanks. To assess the possible mechanism(s) behind this neighboring effect, we compared histone modification status of cell lines from patients affected by Williams-Beuren, Williams-Beuren region duplication, Smith-Magenis or DiGeorge Syndrome and control individuals using a high-throughput version of chromatin immuno-precipitation method (ChIP), called ChlP-seq. We monitored monomethylation of lysine K20 on histone H4 and trimethylation of lysine K27 on histone H3, as proxies for open and condensed chromatin, respectively. Consistent with the changes in expression levels observed for multiple genes mapping on the entire length of chromosomes affected by structural variants, we also detected regions with modified histone status between samples, up- and downstream from the critical regions, up to the end of the rearranged chromosome. We also gauged the intrachromosomal interactions of these cell lines utilizing chromosome conformation capture (4C-seq) technique. We observed that a set of genes flanking the Williams-Beuren Syndrome critical region (WBSCR) were often looping together, possibly forming an interacting cluster with each other and the WBSCR. Deletion of the WBSCR disrupts the expression of this group of flanking genes, as well as long-range interactions between them and the rearranged interval. We conclude, that large genomic rearrangements can lead to changes in the state of the chromatin spreading far away from the critical region, thus possibly affecting expression globally and as a result modifying the phenotype of the patients. - Les conséquences fonctionnelles des variations structurelles dans le génome humain sont vastes, allant de l'adaptation, en passant par les variations phénotypiques, aux prédispositions à certaines maladies. Il a été démontré que les variations du nombre de copies (CNV) influencent le phénotype en modifiant, d'une manière plus ou moins dose-dépendante, l'expression des gènes se situant à l'intérieur de ces régions, mais également celle des gènes se trouvant dans les régions flanquantes. Afin d'étudier les mécanismes possibles sous-jacents à cet effet de voisinage, nous avons comparé les états de modification des histones dans des lignées cellulaires dérivées de patients atteints du syndrome de Williams-Beuren, de la duplication de la région Williams-Beuren, du syndrome de Smith-Magenis ou du syndrome de Di- George et d'individus contrôles en utilisant une version haut-débit de la méthode d'immunoprécipitation de la chromatine (ChIP), appelée ChIP-seq. Nous avons suivi la mono-méthylation de la lysine K20 sur l'histone H4 et la tri-méthylation de la lysine K27 sur l'histone H3, marqueurs respectifs de la chromatine ouverte et fermée. En accord avec les changements de niveaux d'expression observés pour de multiples gènes tout le long des chromosomes affectés par les CNVs, nous avons aussi détecté des régions présentant des modifications d'histones entre les échantillons, situées de part et d'autre des régions critiques, jusqu'aux extrémités du chromosome réarrangé. Nous avons aussi évalué les interactions intra-chromosomiques ayant lieu dans ces cellules par l'utilisation de la technique de capture de conformation des chromosomes (4C-seq). Nous avons observé qu'un groupe de gènes flanquants la région critique du syndrome de Williams-Beuren (WBSCR) forment souvent une boucle, constituant un groupe d'interactions privilégiées entre ces gènes et la WBSCR. La délétion de la WBSCR perturbe l'expression de ce groupe de gènes flanquants, mais également les interactions à grande échelle entre eux et la région réarrangée. Nous en concluons que les larges réarrangements génomiques peuvent aboutir à des changements de l'état de la chromatine pouvant s'étendre bien plus loin que la région critique, affectant donc potentiellement l'expression de manière globale et ainsi modifiant le phénotype des patients.

Entourage des patients âgés avec une pathologie mentale [Carers of elderly patients suffering from mental disorders]

Mental disorders in the elderly lead their families to stand in and adopt a variety of roles before institutional care takes over. These pathologies carry a high risk of suffering for families and distress for professional caregivers. Thus, the psychological burden endured by the proxies of an elderly depressed patient, or of one who has committed suicide, or of patient suffering from dementia needs special attention and, in some cases, professional care. The discussion of these paradigmatic situations in this manuscript will be extended by a paragraph on specific stakes raised by alcoholic patients living in nursing homes. It will stress the complexity and requirements of professionalism when approaching the familial and professional circle of the elderly psychiatric patient.

CD40: Novel Association with Crohn's Disease and Replication in Multiple Sclerosis Susceptibility

Background: A functional polymorphism located at 21 from the start codon of the CD40 gene, rs1883832, was previously reported to disrupt a Kozak sequence essential for translation. It has been consistently associated with Graves’ disease risk in populations of different ethnicity and genetic proxies of this variant evaluated in genome-wide association studies have shown evidence of an effect in rheumatoid arthritis and multiple sclerosis (MS) susceptibility. However, the protective allele associated with Graves’ disease or rheumatoid arthritis has shown a risk role in MS, an effect that we aimed to replicate in the present work. We hypothesized that this functional polymorphism might also show an association with other complex autoimmune condition such as inflammatory bowel disease, given the CD40 overexpression previously observed in Crohn’s disease (CD) lesions. Methodology: Genotyping of rs1883832C.T was performed in 1564 MS, 1102 CD and 969 ulcerative colitis (UC) Spanish patients and in 2948 ethnically matched controls by TaqMan chemistry. Principal Findings: The observed effect of the minor allele rs1883832T was replicated in our independent Spanish MS cohort [p= 0.025; OR (95% CI)= 1.12 (1.01–1.23)]. The frequency of the minor allele was also significantly higher in CD patients than in controls [p= 0.002; OR (95% CI)= 1.19 (1.06–1.33)]. This increased predisposition was not detected in UC patients [p= 0.5; OR (95% CI)= 1.04 (0.93–1.17)]. Conclusion: The impact of CD40 rs1883832 on MS and CD risk points to a common signaling shared by these autoimmune conditions

Extensive natural variation for cellular hydrogen peroxide release is genetically controlled.

Natural variation in DNA sequence contributes to individual differences in quantitative traits. While multiple studies have shown genetic control over gene expression variation, few additional cellular traits have been investigated. Here, we investigated the natural variation of NADPH oxidase-dependent hydrogen peroxide (H(2)O(2) release), which is the joint effect of reactive oxygen species (ROS) production, superoxide metabolism and degradation, and is related to a number of human disorders. We assessed the normal variation of H(2)O(2) release in lymphoblastoid cell lines (LCL) in a family-based 3-generation cohort (CEPH-HapMap), and in 3 population-based cohorts (KORA, GenCord, HapMap). Substantial individual variation was observed, 45% of which were associated with heritability in the CEPH-HapMap cohort. We identified 2 genome-wide significant loci of Hsa12 and Hsa15 in genome-wide linkage analysis. Next, we performed genome-wide association study (GWAS) for the combined KORA-GenCord cohorts (n = 279) using enhanced marker resolution by imputation (>1.4 million SNPs). We found 5 significant associations (p<5.00×10-8) and 54 suggestive associations (p<1.00×10-5), one of which confirmed the linked region on Hsa15. To replicate our findings, we performed GWAS using 58 HapMap individuals and ∼2.1 million SNPs. We identified 40 genome-wide significant and 302 suggestive SNPs, and confirmed genome signals on Hsa1, Hsa12, and Hsa15. Genetic loci within 900 kb from the known candidate gene p67phox on Hsa1 were identified in GWAS in both cohorts. We did not find replication of SNPs across all cohorts, but replication within the same genomic region. Finally, a highly significant decrease in H(2)O(2) release was observed in Down Syndrome (DS) individuals (p<2.88×10-12). Taken together, our results show strong evidence of genetic control of H(2)O(2) in LCL of healthy and DS cohorts and suggest that cellular phenotypes, which themselves are also complex, may be used as proxies for dissection of complex disorders.

Factors associated with use of community mental health services by schizophrenia patients using multilevel analysis

BACKGROUND Persons with schizophrenia and related disorders may be particularly sensitive to a number of determinants of service use, including those related with illness, socio-demographic characteristics and organizational factors. The objective of this study is to identify factors associated with outpatient contacts at community mental health services of patients with schizophrenia or related disorders. METHODS This cross-sectional study analyzed 1097 patients. The main outcome measure was the total number of outpatient consultations during one year. Independent variables were related to socio-demographic, clinical and use of service factors. Data were collected from clinical records. RESULTS The multilevel linear regression model explained 46.35% of the variance. Patients with significantly more contacts with ambulatory services were not working and were receiving welfare benefits (p = 0.02), had no formal education (p = 0.02), had a global level of severity of two or three (four being the most severe) (p < 0.001), with one or more inpatient admissions (p < 0.001), and in contact with both types of professional (nurses and psychiatrists) (p < 0.001). The patients with the fewest ambulatory contacts were those with diagnoses of persistent delusional disorders (p = 0.04) and those who were attended by four of the 13 psychiatrists (p < 0.001). CONCLUSIONS As expected, the variables that explained the use of community service could be viewed as proxies for severity of illness. The most surprising finding, however, was that a group of four psychiatrists was also independently associated with use of ambulatory services by patients with schizophrenia or related disorders. More research is needed to carefully examine how professional support networks interact to affect use of mental health.

Large-scale analysis of orthologs and paralogs under covarion-like and constant-but-different models of amino acid evolution.

Functional divergence between homologous proteins is expected to affect amino acid sequences in two main ways, which can be considered as proxies of biochemical divergence: a "covarion-like" pattern of correlated changes in evolutionary rates, and switches in conserved residues ("conserved but different"). Although these patterns have been used in case studies, a large-scale analysis is needed to estimate their frequency and distribution. We use a phylogenomic framework of animal genes to answer three questions: 1) What is the prevalence of such patterns? 2) Can we link such patterns at the amino acid level with selection inferred at the codon level? 3) Are patterns different between paralogs and orthologs? We find that covarion-like patterns are more frequently detected than "constant but different," but that only the latter are correlated with signal for positive selection. Finally, there is no obvious difference in patterns between orthologs and paralogs.

CODAMAT: a modern analogue techinque for compositional data

The quantitative estimation of Sea Surface Temperatures from fossils assemblages is afundamental issue in palaeoclimatic and paleooceanographic investigations. TheModern Analogue Technique, a widely adopted method based on direct comparison offossil assemblages with modern coretop samples, was revised with the aim ofconforming it to compositional data analysis. The new CODAMAT method wasdeveloped by adopting the Aitchison metric as distance measure. Modern coretopdatasets are characterised by a large amount of zeros. The zero replacement was carriedout by adopting a Bayesian approach to the zero replacement, based on a posteriorestimation of the parameter of the multinomial distribution. The number of modernanalogues from which reconstructing the SST was determined by means of a multipleapproach by considering the Proxies correlation matrix, Standardized Residual Sum ofSquares and Mean Squared Distance. This new CODAMAT method was applied to theplanktonic foraminiferal assemblages of a core recovered in the Tyrrhenian Sea.Kew words: Modern analogues, Aitchison distance, Proxies correlation matrix,Standardized Residual Sum of Squares

Studies in stoichiometry with compositional data

Geochemical data that is derived from the whole or partial analysis of various geologic materialsrepresent a composition of mineralogies or solute species. Minerals are composed of structuredrelationships between cations and anions which, through atomic and molecular forces, keep the elementsbound in specific configurations. The chemical compositions of minerals have specific relationships thatare governed by these molecular controls. In the case of olivine, there is a well-defined relationshipbetween Mn-Fe-Mg with Si. Balances between the principal elements defining olivine composition andother significant constituents in the composition (Al, Ti) have been defined, resulting in a near-linearrelationship between the logarithmic relative proportion of Si versus (MgMnFe) and Mg versus (MnFe),which is typically described but poorly illustrated in the simplex.The present contribution corresponds to ongoing research, which attempts to relate stoichiometry andgeochemical data using compositional geometry. We describe here the approach by which stoichiometricrelationships based on mineralogical constraints can be accounted for in the space of simplicialcoordinates using olivines as an example. Further examples for other mineral types (plagioclases andmore complex minerals such as clays) are needed. Issues that remain to be dealt with include thereduction of a bulk chemical composition of a rock comprised of several minerals from which appropriatebalances can be used to describe the composition in a realistic mineralogical framework. The overallobjective of our research is to answer the question: In the cases where the mineralogy is unknown, arethere suitable proxies that can be substituted?Kew words: Aitchison geometry, balances, mineral composition, oxides

Geração e gestão do valor por meio de métricas baseadas nas perspectivas do capital intelectual

No presente estudo, tomou-se como ponto de partida pesquisa em que se discutem possibilidades de as empresas alcançarem valor superior com base no alinhamento estratégico, na gestão do capital intelectual e na adoção do Balanced Scorecard (BSC). Investigou-se a associação entre a geração de valor e os componentes do capital intelectual segundo preceitos, entre outros, de Stewart (1999; 2001) M'Pherson e Pike (2001) e Kaplan e Norton (2004), além de trazer à tona a questão da implementação e extensão da utiliza- ção do Balanced Scorecard. As proxies empregadas para caracte- rizar geração de valor foram a média do price-to-book value (razão entre o valor de mercado e o valor patrimonial) e o retorno médio das ações no período estudado. Para caracterizar os componentes do capital intelectual, adotaram-se índices computados a partir da percepção de executivos de topo responsáveis por processos corporativos de planejamento e controle, com base na revisão de literatura e com base em procedimento de fatoração. O estudo utilizou testes não paramétricos para identificar se há evidências de diferente apreciação e retorno no mercado acionário para segmentos homogêneos de empresas com perfis diferenciados quanto aos índices de capital intelectual. Os resultados mostraram-se conclusivos e significantes - em reforço à proposição de sintonia entre a percepção do valor sob o enfoque do mercado de capitais e a percepção da performance em múltiplas perspectivas por parte de gestores. Quanto à adoção do BSC, foram identificados indícios de interferência favorável à performance nas empresas classificadas como de melhores padrões de geração de valor.

Are sustainable companies less risky and more profitable?

The purpose of this study was to determine whether there were significant differences in accounting indicators when comparing sustainable enterprises to other similar companies that are not considered as sustainable. The Corporate Sustainability Index of BM (São Paulo Stock, Commodities and Futures Exchange) was the criterion selected to break down the samples into sustainable and non-sustainable enterprises. The accounting indicators were separated into two kinds: risk (dividend payout, percentage growth of assets, financial leverage, current liquidity, asset size, variability of earnings, and accounting beta) and return (ROA, ROE, asset turnover, and net margin). We individually analyzed the companies in the energy sector, followed by those in the banking sector, as well as the entire ISE portfolio as of 2008/2009, including all the sectors. Mann-Whitney tests were performed in order to verify the difference of the means between the groups (ISE and non-ISE). The results, considering the method chosen and the time span covered by the study, indicate that there are no differences between sustainable companies and the others, when they are assessed by the accounting indicators used here.

The generation and re-generation of social capital and enterprises in multi-stakeholders social cooperative enterprises: a system dynamic approach

Theories on social capital and on social entrepreneurship have mainly highlighted the attitude of social capital to generate enterprises and to foster good relations between third sector organizations and the public sector. This paper considers the social capital in a specific third sector enterprise; here, multi-stakeholder social cooperatives are seen, at the same time, as social capital results, creators and incubators. In the particular enterprises that identify themselves as community social enterprises, social capital, both as organizational and relational capital, is fundamental: SCEs arise from but also produce and disseminate social capital. This paper aims to improve the building of relational social capital and the refining of helpful relations drawn from other arenas, where they were created and from where they are sometimes transferred to other realities, where their role is carried on further (often working in non-profit, horizontally and vertically arranged groups, where they share resources and relations). To represent this perspective, we use a qualitative system dynamic approach in which social capital is measured using proxies. Cooperation of volunteers, customers, community leaders and third sector local organizations is fundamental to establish trust relations between public local authorities and cooperatives. These relations help the latter to maintain long-term contracts with local authorities as providers of social services and enable them to add innovation to their services, by developing experiences and management models and maintaining an interchange with civil servants regarding these matters. The long-term relations and the organizational relations linking SCEs and public organizations help to create and to renovate social capital. Thus, multi-stakeholder cooperatives originated via social capital developed in third sector organizations produce new social capital within the cooperatives themselves and between different cooperatives (entrepreneurial components of the third sector) and the public sector. In their entrepreneurial life, cooperatives have to contrast the "working drift," as a result of which only workers remain as members of the cooperative, while other stakeholders leave the organization. Those who are not workers in the cooperative are (stake)holders with "weak ties," who are nevertheless fundamental in making a worker's cooperative an authentic social multi-stakeholders cooperative. To maintain multi-stakeholder governance and the relations with third sector and civil society, social cooperatives have to reinforce participation and dialogue with civil society through ongoing efforts to include people that provide social proposals. We try to represent these processes in a system dynamic model applied to local cooperatives, measuring the social capital created by the social cooperative through proxies, such as number of volunteers and strong cooperation with public institutions. Using a reverse-engineering approach, we can individuate the determinants of the creation of social capital and thereby give support to governance that creates social capital.

O impacto da liquidez nos retornos esperados das debêntures brasileiras

Neste trabalho, teve-se como objetivo identificar o impacto do risco de liquidez nos retornos excedentes esperados das debêntures no mercado secundário brasileiro. Foram realizadas análises de regressão em painel desbalanceado com dados semestrais de 101 debêntures ao longo de oito semestres (primeiro semestre de 2006 ao segundo semestre de 2009), totalizando 382 observações. Sete proxies (spread de compra e venda, %zero returns, idade, volume de emissão, valor nominal de emissão, quantidade emitida e %tempo) foram utilizadas para testar o impacto do risco de liquidez nos yield spreads das debêntures. O yield spread foi controlado por até dez outras variáveis determinantes que não a liquidez (fator de juros, fator de crédito, taxa livre de risco, rating, duration, quatro variáveis contábeis e volatilidade de equity). A hipótese nula de que não há prêmio de liquidez para o mercado secundário de debêntures no Brasil foi rejeitada apenas para três das sete proxies (spread de compra e venda, valor nominal de emissão e quantidade emitida). Os prêmios encontrados são bastante baixos (1,9 basis point para cada 100 basis point de incremento no spread de compra e venda, 0,5 basis point para um aumento de 1% no valor do valor nominal de emissão e 0,17 basis point para cada menos 1.000 debêntures emitidas). De qualquer forma, houve perda na eficiência das proxies de liquidez após correção das autocorrelações e potenciais endogeneidades, seja por meio da inclusão de efeitos fixos, da análise de primeiras diferenças ou da utilização de um sistema de três equações. Esses resultados apontam para a suspeita de que o risco de liquidez não é um fator importante na composição das expectativas dos investidores no mercado secundário de debêntures.