An analysis of the determinants in economics and business publications by spanish universities between 1994 and 2004

The objective of this study consists, firstly, of quantifying differences between Spanish universities’ output (in terms of publications and citations), and secondly, analysing its determinants. The results obtained show that there are factors which have a positive influence on these indicators, such as having a third-cycle programme, with public financing obtained in competitive selection procedures, having a large number of full-time researchers or involvement in collaborations with international institutions. However, other factors which appear to have the opposite effect were also noted. These include a higher number of students per lecturer or a lower proportion of lecturers with recognised six-year periods.

Energy efficiency determinants: An empirical analysis of Spanish innovative firms

This paper examines the extent to which innovative Spanish firms pursue improvements in energy efficiency (EE) as an objective of innovation. The increase in energy consumption and its impact on greenhouse gas emissions justifies the greater attention being paid to energy efficiency and especially to industrial EE. The ability of manufacturing companies to innovate and improve their EE has a substantial influence on attaining objectives regarding climate change mitigation. Despite the effort to design more efficient energy policies, the EE determinants in manufacturing firms have been little studied in the empirical literature. From an exhaustive sample of Spanish manufacturing firms and using a logit model, we examine the energy efficiency determinants for those firms that have innovated. To carry out the econometric analysis, we use panel data from the Community Innovation Survey for the period 2008‐2011. Our empirical results underline the role of size among the characteristics of firms that facilitate energy efficiency innovation. Regarding company behaviour, firms that consider the reduction of environmental impacts to be an important objective of innovation and that have introduced organisational innovations are more likely to innovate with the objective of increasing energy efficiency. Keywords: energy efficiency, corporate targets, innovation, Community Innovation Survey. JEL Classification: Q40, Q55, O31

Polygenic determinants of white matter volume derived from GWAS lack reproducibility in a replicate sample

A recent publication reported an exciting polygenic effect of schizophrenia (SCZ) risk variants, identified by a large genome-wide association study (GWAS), on total brain and white matter volumes in schizophrenic patients and, even more prominently, in healthy subjects. The aim of the present work was to replicate and then potentially extend these findings. According to the original publication, polygenic risk scores using single nucleotide polymorphism (SNP) information of SCZ GWAS (polygenic SCZ risk scores; PSS) were calculated in 122 healthy subjects, enrolled in a structural magnetic resonance imaging (MRI) study. These scores were computed based on P-values and odds ratios available through the Psychiatric GWAS Consortium. In addition, polygenic white matter scores (PWM) were calculated, using the respective SNP subset in the original publication. None of the polygenic scores, either PSS or PWM, were found to be associated with total brain, white matter or gray matter volume in our replicate sample. Minor differences between the original and the present study that might have contributed to lack of reproducibility (but unlikely explain it fully), are number of subjects, ethnicity, age distribution, array technology, SNP imputation quality and MRI scanner type. In contrast to the original publication, our results do not reveal the slightest signal of association of the described sets of GWAS-identified SCZ risk variants with brain volumes in adults. Caution is indicated in interpreting studies building on polygenic risk scores without replication sample.

An analysis of the determinants in economics and business publications by spanish universities between 1994 and 2004

The objective of this study consists, firstly, of quantifying differences between Spanish universities' output (in terms of publications and citations), and secondly, analysing its determinants. The results obtained show that there are factors which have a positive influence on these indicators, such as having a third-cycle programme, with public financing obtained in competitive selection procedures, having a large number of full-time researchers or involvement in collaborations with international institutions. However, other factors which appear to have the opposite effect were also noted. These include a higher number of students per lecturer or a lower proportion of lecturers with recognised six-year periods.

Environmental determinants of foraging strategies in Cory"s shearwaters Calonectris diomedea

Despite the advent of devices to track seabird movements, the extent to which productive areas and oceanic winds influence foraging strategies is still not fully understood. We investigated the main environmental determinants of foraging strategies in Cory"s shearwaters Calonectris diomedea by combining satellite-tracking information from 14 birds breeding on the Canary Islands with concurrent data on chlorophyll a (chl a) concentrations and oceanic winds. Additionally, we took blood samples at the end of each foraging trip and analysed carbon (C) and nitrogen (N) stable isotopes to examine the use of trophic resources. All birds showed commuting trips, concentrating foraging activity exclusively on the African continental shelf. Foraging locations showed a strong association with chl a concentrations, suggesting birds select foraging areas according to prey availability. In contrast with other breeding colonies where Cory"s shearwaters use a dual-foraging method, birds showed a unimodal strategy and did not show differences in C and N isotope signatures in plasma, confirming that close proximity to highly productive areas strongly influences foraging strategies. In addition, birds tracked during 2 consecutive trips foraged in the same area, suggesting that high resource availability promotes fidelity to feeding grounds also at coarse scales. Persistent northeast trade winds blew during the study period, and commuting trips followed a consistent clockwise movement with a southwest heading while the birds foraged along the continental shelf, suggesting that birds used tail winds to reduce their flying costs. Our results corroborate that oceanographic conditions in the vicinity of the breeding colony have a strong effect on foraging strategies of pelagic seabirds.

Creative Industries: a Preliminary Insight to their Location Determinants

This paper is about location decisions of Creative Industries and the role played by existent spatial distribution and agglomeration economies of these kinds of activities in order to analyse their location determinants. Our main statistical source is the REIC (Catalan Manufacturing Establishments Register), which has plant-level microdata on location of new plants. Using Count Data Models, our main results show that location determinants are quite similar between both industries and also both non-creative and creative firms are positively influenced by the specialisation level in Creative Industries of municipalities. Moreover, our results provide evidence that the unobserved ‘creative milieu’ has a limited impact on attracting firms. Keywords: creative industries, creative milieu, count data models, industrial location, agglomeration economies

The determinants of capital intensity in Japan and the U.S

We estimate the determinants of capital intensity in Japan and the US, characterized by striking different paths. We augment an otherwise standard Constant Elasticity of Substitution (CES) model with demand-side considerations, which we find especially relevant in the US. In this augmented setting, the elasticity of substitution between capital and labor is placed around 0.85 in Japan, and 0.30 in the US. We also find evidence of biased technical change, which is capital-saving in Japan but labor-saving in the US. These differences help us explain the diverse experience in the capital deepening process of these economies, and lead us to conclude that demand-side drivers may also be relevant to account for different growth experiences. A close look at the nature of technological change is also needed before designing one-size-fits-all industrial, economic growth, and/or labor market policies.

Determinants of credit default swap spread, the effect of the financial crisis in the us markets

The purpose of this study is to define what determinants affect the Credit spread. There are two theoretical frameworks to study this: structural models and reduced form models. Structural models indicate that the main determinants are company leverage, volatility and risk-free interest rate, and other market and firm-specific variables. The purpose is to determine which of these theoretical determinants can explain the CDS spread and also how these theoretical determinants are affected by the financial crisis in 2007. The data is collected from 30 companies in the US Markets, mainly S&P Large Cap. The sample time-frame is 31.1.2004 – 31.12.2009. Empirical studies indicate that structural models can explain the CDS spreads well. Also, there were significant differences between bear and bull markets. The main determinants explaining CDS spreads were leverage and volatility. The other determinants were significant, depending on the sample period. However, these other variables did not explain the spread consistently.

Early nutritional determinants in cardio-metabolic programming – A prospective randomized controlled dietary intervention study

Western societies have been faced with the fact that overweight, impaired glucose regulation and elevated blood pressure are already prevalent in pediatric populations. This will inevitably mean an increase in later manifestations of cardio-metabolic diseases. The dilemma has been suggested to stem from fetal life and it is surmised that the early nutritional environment plays an important role in the process called programming. The aim of the present study was to characterize early nutritional determinants associating with cardio-metabolic risk factors in fetuses, infants and children. Further, the study was designated to establish whether dietary counseling initiated in early pregnancy can modify this cascade. Healthy mother-child pairs (n=256) participating in a dietary intervention study were followed from early pregnancy to childhood. The intervention included detailed dietary counseling by a nutritionist targeting saturated fat intake in excess of recommendations and fiber consumption below recommendations. Cardio-metabolic programming was studied by characterizing the offspring’s cardio-metabolic risk factors such as over-activation of the autonomic nervous system, elevated blood pressure and adverse metabolic status (e.g. serum high split proinsulin concentration). Fetal cardiac sympathovagal activation was measured during labor. Postnatally, children’s blood pressure was measured at six-month and four-year follow-up visits. Further, infants’ metabolic status was assessed by means of growth and serum biomarkers (32-33 split proinsulin, leptin and adiponectin) at the age of six months. This study proved that fetal cardiac sympathovagal activity was positively associated with maternal pre-pregnancy body mass index indicating adverse cardio-metabolic programming in the offspring. Further, a reduced risk of high split proinsulin in infancy and lower blood pressure in childhood were found in those offspring whose mothers’ weight gain and amount and type of fats in the diet during pregnancy were as recommended. Of note, maternal dietary counseling from early pregnancy onwards could ameliorate the offspring’s metabolic status by reducing the risk of high split proinsulin concentration, although it had no effect on the other cardio-metabolic markers in the offspring. At postnatal period breastfeeding proved to entail benefits in cardio-metabolic programming. Finally, the recommended dietary protein and total fat content in the child’s diet were important nutritional determinants reducing blood pressure at the age of four years. The intrauterine and immediate postnatal period comprise a window of opportunity for interventions aiming to reduce the risk of cardio-metabolic disorders and brings the prospect of achieving health benefits over one generation.

Determinants of cash holdings in Finnish industrial sector: measuring the impact of financial crisis 2007- 2010

This thesis studies cash and short term investments to net assets ratio of Finnish industrial companies during financial crisis, and how different firm specific and macro economical variables affect cash and short term investments. The data consists of quarter level interim reports. Regression analysis was used to find out the effects of different variables. Regression models were formed based on previous studies on cash holdings. It was found that firms studied held more cash during financial crisis than before it. Cash and short-term investments acted as substitute of net working capital. Leverage had a positive and significant relationship to cash and short term investment ratio. It was also found out that firms have a target cash and short term investments ratio.

Genetic and antigenic analysis of Babesia bigemina isolates from five geographical regions of Brazil

A molecular epidemiological study was performed with Babesia bigemina isolates from five geographical regions of Brazil. The genetic analysis was done with random amplification of polymorphic DNA (RAPD), repetitive extragenic palindromic elements-polymerase chain reaction (REP-PCR) and enterobacterial repetitive intergenic consensus sequences-polymerase chain reaction (ERIC-PCR) that showed genetic polymorphism between these isolates and generated fingerprinting. In RAPD, ILO872 and ILO876 primers were able to detect at least one fingerprinting for each B. bigemina isolate. The amplification of B. bigemina DNA fragments by REP-PCR and ERIC-PCR gave evidence for the presence in this haemoprotozoan of the sequences described previously in microorganisms of the bacterial kingdom. For the first time it was demonstrated that both techniques can be used for genetic analysis of a protozoan parasite, although the ERIC-PCR was more discriminatory than REP-PCR. The dendogram with similarity coefficient among isolates showed two clusters and one subcluster. The Northeastern and Mid-Western isolates showed the greatest genetic diversity, while the Southeastern and Southern isolates were the closest. The antigenic analysis was done through indirect fluorescent antibody technique and Western blotting using a panel of monoclonal antibodies directed against epitopes on the merozoite membrane surface, rhoptries and membrane of infected erythrocytes. As expected, the merozoite variable surface antigens, major surface antigen (MSA)-1 and MSA-2 showed antigenic diversity. However, B cell epitopes on rhoptries and infected erythrocytes were conserved among all isolates studied. In this study it was possible to identify variable and conserved antigens, which had already been described as potential immunogens. Considering that an attenuated Babesia clone used as immunogen selected populations capable of evading the immunity induced by this vaccine, it is necessary to evaluate more deeply the cross-protection conferred by genetically more distant Brazilian B. bigemina isolates and make an evaluation of the polymorphism degree of variable antigens such as MSA-1 and MSA-2.

Glycolipid and ceramide transfer proteins : important determinants for their function

Lipider är viktiga biomolekyler, eftersom de bygger upp alla cellulära membran. Glykolipider, dvs. lipider som innehåller socker, är dessutom betydelsefulla som signaleringsmolekyler vid olika processer. Det är essentiellt att regleringen av syntesen, nedbrytningen samt transporten av lipider i cellen är noggrant koordinerade, och faktorer som kan påverka lipidmetabolismen är därför viktiga att undersöka. Denna avhandling har undersökt två olika lipidbindande proteiner, glykolipidtransportprotein (GLTP) och ceramidtransportprotein (CERT). GLTPs biologiska funktion är ännu oklar, dock vet man att GLTP har förmåga att binda olika glykolipider samt överföra dessa lipider mellan olika lipidmembraner. CERT har däremot visats kunna transportera ceramid från det endoplastiska retiklet (ER) till Golgi-apparaten, för produktion av sfingomyelin. I detta avhandlingsarbete undersöktes lokaliseringen av GLTP i celler med olika metoder, bl.a. konfokalmikroskopi, samt olika centrifugeringsmetoder. Genom att överuttrycka GLTP i celler och därefter analysera halten nysyntetiserade glykolipider, kunde även sambandet mellan GLTP-uttrycket och dessa lipider undersökas. I avhandlingen identifierades ytterligare en specifik aminosyrasekvens hos GLTP. Denna sekvens visades kunna binda till VAP-A, ett integralt ER protein, med en tidigare fastställd viktig funktion vid regleringen av lipidtransporten. I avhandlingen analyserades även hur ceramidtransporten mellan två olika membraner, medierad av CERT, påverkas av egenskaper i ceramidens omgivning. För att undersöka detta användes artificiella modellmembraner samt fluorimetriska metoder. Sammansättningen och packningen hos lipidmembranerna visades ha en stor betydelse för den CERT-katalyserade ceramidtransporten. Sammanfattningsvis antyder resultaten från avhandlingen att det existerar flera faktorer som kan påverka aktiviteten av GLTP och CERT, vilka i sin tur har förmåga att reglera lipidmetabolismen.

Determinants of credit risk in secured loans – Evidence from the auto loan industry

The purpose of this study is to examine attributes which have explanation power to the probability of default or serious overdue in secured auto loans. Another goal is to find out differences between defaulted loans and loans which have had payment difficulties but survived without defaulting. 19 independent variables used in this study reflect information available at the time of credit decision. These variables were tested with logistic regression and backward elimination procedure. The data includes 8931 auto loans from a Finnish finance company. 1118 of the contracts were taken by company customers and 7813 by private customers. 130 of the loans defaulted and 584 had serious payment problems but did not default. The maturities of those loans were from one month to 60 months and they have ended during year 2011. The LTV (loan-to-value) variable was ranked as the most significant explainer because of its strong positive relationship with probability of payment difficulties. Another important explainer in this study was the credit rating variable which got a negative relationship with payment problems. Also maturity and car age performed well having both a positive relationship with the probability of payment problems. When compared default and serious overdue situations, the most significant differences were found in the roles of LTV, Maturity and Gender variables.

Performance Determinants of Renewable Energy Companies

The purpose of this thesis is to identify the Performance Determinants (PD) of Renewable Energy (RE) companies. It analyzes the background of the RE industry while reflecting simultaneous developments in the fossil based industries. I divided the determinants into two groups: market level and firm level and established hypotheses based on the existing literature. Data from public companies was gathered to construct a Panel Data structure. This is then tested by using a Linear Regression with Fixed Effects model. The model specification was efficient at reflecting the analyzed phenomena. My results showed that both market level and firm level determinants are significant in the RE Industry but the firm level determinants had higher explanatory power (R2). The determinants' relationships were found to follow those from the manufacturing industry more than the utilities' industry. Out of the market level determinants Consumer Price Index (CPI), Interest Rates and Oil prices were significant. Out of the firm level determinants Debt to Assets, Net Investments, Cash flows from operations, Sales and Earnings Before Interests and Taxes (EBIT) were significant. I concluded that this information is valuable for key industry players as they can achieve their objectives faster by elaborating better strategies using these results.