Multirating decision model validation: the relevance of the quality of the securitization issues

Rating enables the information asymmetry existing in the issuer-investor relationship to be reduced, particularly for issues with a high degree of complexity, as is the case of securitizations. However, there may be a serious conflict of interest between the issuer’s choice and remuneration of the agency and the credit rating awarded, resulting in lower quality and information power of the published rating. In this paper, we propose an explicative model of the number of ratings requested, by analyzing the relevance of the number of ratings to measure the reliability, where multirating is shown to be associated to the quality, size, liquidity and the degree of information asymmetry relating to the issue. Thus, we consider that the regulatory changes that foster the widespread publication of simultaneous ratings could help to alleviate the problem of rating model arbitrage and the crisis of confidence in credit ratings in general and in the securitization issues, in particular.

Improvement in the nutritive quality of soyabean meal by co-ensiling with under-utilized fish discards

Improvement in the nutritive value of soybean meal was investigated by Co-ensiling it with underutilized trash fish discards (gizzard shad)at different proportions. The following proportions of gizzard shad to soybean meal were used; (a) 100% gizzard shad + acid combination (b)80% gizzard shad +20% soybean meal & 10% WB (c) 60% gizzard shad + 40% soybean meal & 10% WB (d) 100% gizzard shad without acid combination. Co-ensiling was achieved by adding sufficient acid to produce a paste. Products were neutralized by addition of 2% (by weight) calcium hydroxide and drying was affected by freeze-drying.The dried silage products were stored at low temperatures. Products were analysed for proximate composition and amino acid composition.The amino acid composition and ration of essential amino acid. Non essential amino acid (EAA/NEAA) was used as index of nutritive quality. Also essential amino acid profile of the co-ensiled products were compared with essential amino acid requirement of some warmwater fish species to estimate their nutritive usefulness for these species

The effect of traditional handling, processing and storage methods on the quality of dried fish in small scale fisheries in Nigeria

Most of the fish marketed throughout Nigeria are in either smoked or dried form. The technological requirement for other forms of preservation like chilling and freezing cannot be afforded by the small scale fisher folk. Considerable quantities of fish processed for distant consumer markets are lost at handling, processing, storage and marketing stages. Significant losses occur through infestation by mites, insects, fungal infestation and fragmentation during transportation. This paper attempts to describe the effect of these losses on fish quality and suggests methods of protecting fish from agents of deterioration

A preliminary investigation into the effect of different storage methods on the keeping quality of smoked Oreochromis niloticus

The study was carried out to asses the nutritional qualities of smoked O. niloticus and to discover the best methods of storage to minimize spoilage and infestation of smoked fish. Result showed that the protein contents in A and D decreased while the protein contents of b and C increased. The lipid content increased only in A while it decreased in B-C and D. The moisture content generally increased over the period of storage and there was an increase in ash content only in C while it decreased in A, B and D. The samples packed in polythene bag suffered about 35% mould infection and a few were attached by rodents with some fouling. Samples packed in jute bag were in good condition but were slightly attached by insect. All samples packed in carton and basket were still in good state but there were insect attack in those packed in carton

The distribution of Corixidae in relation to the water quality of British lakes: A monitoring model

This article is an attempt to devise a method of using certain species of Corixidae as a basis for the assessment of general water quality in lakes. An empirical graphical representation of the distribution of populations or communities of Corixidae in relation to conductivity, based mainly on English and Welsh lakes, is used as a predictive monitoring model to establish the "expected" normal community at a given conductivity, representing the total ionic concentration of the water body. A test sample from another lake of known conductivity is then compared with "expected" community. The "goodness of fit" is examined visually or by calculation of indices of similarity based on the relative proportions of the constituent species of each community. A computer programme has been devised for this purpose.

Assessing the quality of water quality assessments: An analytical quality control protocol for benthic diatoms

In this paper, the background to the development of an analytical quality control procedure for the Trophic Diatom Index (TDI) is explained, highlighting some of the statistical and taxonomic problems encountered, and going on to demonstrate how the system works in practice. Most diatom-based pollution indices, including the TDI, use changes in the relative proportions of different taxa to indicate changing environmental conditions. The techniques involved are therefore much simpler than those involved in many studies of phytoplankton, for example, where absolute numbers are required.

Temporal and spatial variations in the quality of water in El Gergal Reservior, Seville, Spain

It is often difficult to define ‘water quality’ with any degree of precision. One approach is that suggested by Battarbee (1997) and is based on the extent to which individual lakes have changed compared with their natural ‘baseline’ status. Defining the base-line status of artificial lakes and reservoirs however, is, very difficult. In ecological terms, the definition of quality must include some consideration of their functional characteristics and the extent to which these characteristics are self-sustaining. The challenge of managing lakes in a sustainable way is particularly acute in semi-arid, Mediterranean countries. Here the quality of the water is strongly influenced by the unpredictability of the rainfall as well as year-to-year variations in the seasonal averages. Wise management requires profound knowledge of how these systems function. Thus a holistic approach must be adopted and the factors influencing the seasonal dynamics of the lakes quantified over a range of spatial and temporal scales. In this article, the authors describe some of the ways in which both long-term and short-term changes in the weather have influenced the seasonal and spatial dynamics of phytoplankton in El Gergal, a water supply reservoir situated in the south of Spain. The quality of the water stored in this reservoir is typically very good but surface blooms of algae commonly appear during warm, calm periods when the water level is low. El Gergal reservoir is managed by the Empresa Municipal de Abastecimiento y Saneamiento (EMASESA) and supplies water for domestic, commercial and industrial use to an area which includes the city of Seville and twelve of its surrounding towns (ca. 1.3 million inhabitants). El Gergal is the last of two reservoirs in a chain of four situated in the Rivera de Huelva basin, a tributary of the Guadalquivir river. It was commissioned by EMASESA in 1979 and since then the company has monitored its main limnological parameters on, at least, a monthly basis and used this information to improve the management of the reservoir. As a consequence of these intensive studies the physical, chemical and biological information acquired during this period makes the El Gergal database one of the most complete in Spain. In this article the authors focus on three ‘weather-related’ effects that have had a significant impact on the composition and distribution of phytoplankton in El Gergal: (i) the changes associated with severe droughts; (ii) the spatial variations produced by short-term changes in the weather; (iii) the impact of water transfers on the seasonal dynamics of the dinoflagellate Ceratium.

Methods of determining the quality of water using the functional characteristics of algae

In the study of questions relating to the quality of raw water and the biological produc- tivity of water bodies algal indicators have an important place. Despite the importance of these functional indicators in determining the quality of water and the nature of the production processes as a basis for preserving the ecological equilibrium of aquatic ecosystems, their use in the system of hydrobiological methods of monitoring the quality of surface water has not received proper consideration. This paper aims to analyse the matter and the possibl use of functional algal criteria in the system for the biological monitoring of aquatic objects and also to give some results in using these criteria.

The microbiological quality of water: the nature of the problem

Improvements in methods for the detection and enumeration of microbes in water, particularly the application of techniques of molecular biology, have highlighted shortcomings in the ”standard methods” for assessing water quality. Higher expectations from the consumer and increased publicity associated with pollution incidents can lead to an uncoupling of the cycle which links methodological development with standard-setting and legislation. The new methodology has also highlighted problems within the water cycle, related to the introduction, growth and metabolism of microbes. A greater understanding of the true diversity of the microbial community and the ability to transmit genetic information within aquatic systems ensures that the subject of this symposium and volume provides an ideal forum to discuss the problems encountered by both researcher and practitioner.

Output beam quality of edge pumped planar waveguide lasers with confocal unstable resonators

Output beam quality of edge pumped planar waveguide lasers with confocal unstable resonators is investigated by diffraction methods, taking into account gain saturation, asymmetric pumping, and beam interaction. The influences of pumping uniformity, doping concentration, cavity length and effective Fresnel number are analyzed with respect to output beam quality and pumping efficiency. It is found that good beam quality and high efficiency can be obtained with asymmetric pumping and optimized negative branch confocal unstable resonators. (c) 2005 The Optical Society of Japan.

Growth, characterization and optical quality of CaF2 single crystals grown by the temperature gradient technique

The CaF2 single crystals with diameters up to 200 mm were successfully grown by modified temperature gradient technique (TGT), which are suitable for application as optical elements in the ultraviolet range. The optimizations of various growth parameters were systematically studied. Properties of as-grown CaF2 crystals were characterized by the nature of inclusions, dislocations, crystallinity, and impurities contents. The results showed that the dislocations and multinucleation were mostly constrained in the conical part of the crystals with the cylindrical parts having the best crystalline quality and lowest impurity contents. The high optical quality of TGT-grown CaF2 single crystals was also confirmed to have excellent optical transmission in 190-2500 nm and refractive index homogeneity. (c) 2005 Elsevier Ltd. All rights reserved.

Bonding quality of Yb : Y3Al5O12/Y3Al5O12 composite crystals

The Yb:Y3Al5O12/Y3Al5O12 (Yb:YAG/YAG) composite crystals were prepared by thermal bonding method with different technological parameters. The bonding interface of the composite crystals were observed by optical microscope, scanning electron microscope, and atom force microscope. The light scattering experiments for bonding interface of the composite crystals were measured by the laser and transmission spectra. All experiments show that high-quality Yb:YAG/YAG composite crystals without space transition layer and light scattering on the bonding interface can be obtained by thermal bonding method under appropriate technological parameters.