Varieties of capitalism and investments in human capital

This paper explores the relationship between national institutional archetypes and investments in training and development. A recent trend within the literature on comparative capitalism has been to explore the nature and extent of heterogeneity within the coordinated market economies (CMEs) of Europe. Based on a review of the existing comparative literature on training and development, and comparative firm-level survey evidence of differences in training and development practices, we both support and critique existing country clusters and argue for a more nuanced and flexible categorization.

Can valuation factors be prescribed? The case of collective enfranchisement and leasehold extension of flats in England and Wales

Recent concerns over the valuation process in collective leasehold enfranchisement and lease extension cases have culminated in new legislation. To underpin this, the Government (Department of Environment Transport and the Regions (DETR)) commissioned new research, which examined whether the valuation of the freehold in such cases could be simplified through the prescription of either yield or marriage value/relativity. This paper, which is based on that research, examines whether it is possible or desirable to prescribe such factors in the valuation process. Market, settlement and Local Valuation Tribunal (LVT) decisions are analysed, and the basis of 'relativity charts' used in practice is critically examined. Ultimately the imperfect nature of the market in freehold investment sales and leasehold vacant possession sales means that recommendations must rest on an analysis of LVT data. New relativity curves are developed from this data and used in conjunction with an alternative approach to valuation yields (based on other investment assets). However, the paper concludes that although the prescription of yields and relativity is possible, it is not fully defensible because of problems in determining risk premia; that the evidential basis for relativity consists of LVT decisions; and that a formula approach would tend to 'lead' the market as a whole.

Valuation and performance of firms in complex ownership structures : an application to Korean chaebols

We propose several new metrics to describe the complex ownership structure of business groups, and provide simple formulas and algorithms to compute these metrics. We use these measures to describe in detail the ownership structure of Korean chaebols in the period of 2003 to 2004. In addition, we validate the usefulness of our new metrics by showing empirically that they are important for understanding the valuation and performance of group firms. In particular, we show evidence that firms that are central to the control structure of the chaebol (central firms), firms in cross-shareholdings, and firms that are placed at the bottom of the group (i.e., with lower ultimate ownership) have lower profitability than other group firms. The valuation results suggest that central firms and firms in cross-shareholding loops have lower valuations than other public Chaebol firms. The lower valuation of these firms is not explained by variation in measures of ownership concentration and separation between ownership and control.

Density of sand flies (diptera: psychodidae) in domestic and wild animal shelters in an area of visceral leishmaniasis in the state of Rio Grande do Norte, Brazil

XIMENES, Maria de Fátima Freire de Melo; SOUZA, Maria de Fátima de; CASTELLON, Eloy Guilhermo. Density of sand flies (Diptera: Psychodidae) in domestic and wild animal shelters in an area of visceral Leishmaniasis in the State of Rio Grande do Norte, Brazil. Memorias do Instituto Oswaldo Cruz, Rio de Janeiro, v.94, n.4, p.427-432, jul./ago. 1999. Disponivel em: Acesso em: 4 out. 2010.

Economic growth in Latin America: the role of investment and other growth sources

Includes bibliography

Influence of enclosure size on growth of breast and leg muscle fibers in domestic fowl

This experiment evaluated the growth of breast and leg muscle fibers of domestic fowl raised in two enclosure sizes (SE: Small Enclosure, 1.125 m2/10 birds; LE: Large Enclosure, 5.25 m2/10 birds). In breast muscles, the number of fibers per area decreased over time and higher values were observed in broilers housed in SE compared to LE. The fiber size increased with age and was greater in LE than SE at 56 days of age, suggesting greater hypertrophic growth of fibers in breast muscle for broilers maintained in LE. In leg muscles, the muscle cross-sectional area was greater for broilers raised in LE than SE at 56 days of age and decreased from 42 to 56 days of age in broilers raised in SE, suggesting leg muscle atrophy in these birds. The Fast Glycolytic (FG), Fast Oxidative-Glycolytic (FOG) and Slow Oxidative (SO) fibers grew until 42 days of age in both enclosure sizes. The area of FOG fibers was greater in broilers raised in LE than those in SE at 28 and 56 days of age; in LE-raised broilers, the SO area was greater at 28, 42 and 56 days of age, suggesting that the muscles of broilers housed in LE are more oxidative. The BW gain was greater for broilers raised in LE than SE, whereas BW, feed intake and feed conversion were not influenced by enclosure size. Thus, the enclosure space affected hypertrophic growth and metabolic characteristics of breast and leg muscle fibers. © Asian Network for Scientific Information, 2012.

Economic and legal status of foreign investments in selected countries of Latin America (prepared by the Secretariat) = Situación jurídica y económica de las inversiones extranjeras en países seleccionados de la América Latina (Informe preparado por la Secretaría)

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Economic and legal status of foreign investments in selected countries of Latin America: foreign investments in Paraguay

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