Stockholder conflicts and dividends

Conflicts of interest between majority and minority stockholders affect a large proportion of firms in any economy, but has received little attention in the empirical literature. We examine the link between the potential for such conflicts and the firm's payout policy on a large sample of Norwegian private firms with controlling stockholders and detailed ownership data. Our evidence shows that the stronger the potential conflict between the stockholders, the higher the proportion of earnings paid out as dividends. This tendency to reduce stockholder conflicts by dividend payout is more pronounced when the minority is diffuse and when a family's majority block is held by a single family member. We also find evidence that a minority-friendly payout policy is associated with higher future minority investment in the firm. These results are consistent with the notion that potential agency costs of ownership are mitigated by dividend policy when the majority stockholder benefits from not exploiting the minority.

Educação de Enfermagem sem distâncias: uma ruptura espaço/temporal

Este artigo apresenta concepções pedagógicas e aspectos sobre a legislação da educação a distância, assim como tece considerações sobre tecnologias educacionais e relata a experiência de utilização de ambiente on-line de aprendizagem na graduação de Enfermagem. Foi oferecido um curso via Internet, no ambiente WebCT. O tema do curso foi Terapia Intravenosa (TIV). Inscreveram-se 49 alunos, destes, 25 concluíram 50% das atividades previstas. A utilização da Internet pode motivar o aprendiz e facilitar a inclusão digital do aluno de Enfermagem. Assim, a Internet pode ser vista como uma ferramenta auxiliar útil que possibilita uma ruptura espaço/temporal, em que o tempo e o espaço são estabelecidos de acordo com as necessidades, os interesses e a disponibilidade dos discentes.

Variació temporal de paràmetres de qualitat del sòl ocasionada per l’ús i abandó agrícola del Cap de Creus

Estudi i avaluació de les principals propietats del sòl i la dinàmica erosiva relacionades amb l’ús del sòl i l’abandó agrícola en diferents ambients de la península del Cap de Creus. Per dur a terme aquest estudi s’han seleccionat 7 ambients diferentsrepresentatius d’una seqüència d’usos fins l’abandó en diferents etapes desuccessió vegetal. Els ambients són diferenciats entre sòls cultivats (vinya iolivera), sòls forestals (sureda i pineda), pastures (prats) i matollars (Cistusmonspeliensis i d’Erica arborea) respectivament cremat reiteradament i nocremat durant 25 anys. En cada ambient s’han instal.lat parcel.les d’erosióque permeten avaluar la producció de sediments i la mobilització de nutrients (carboni i nitrogen) durant els episodis de precipitació que generen escolament superficial

Altered structural connectivity in patients with medial temporal lobe epilepsy: A Diffusion Spectrum Imaging and Graph Analysis study

In this study we investigated the effect of medial temporal lobe epilepsy (MTLE) on the global characteristics of brain connectivity estimated by topological measures. We used DSI (Diffusion Spectrum Imaging) to construct a connectivity matrix where the nodes represents the anatomical ROIs and the edges are the connections between any pair of ROIs weighted by the mean GFA/FA values. A significant difference was found between the patient group vs control group in characteristic path length, clustering coefficient and small-worldness. This suggests that the MTLE network is less efficient compared to the network of the control group.

Multiculturalitat i interculturalitat en la Història de Catalunya

La finalitat de la recerca, concebuda com a recerca aplicada ha consistit en confegir un manual d’història de Catalunya (Catalunya+suma) especialment destinat a la immigració. El treball havia de contextualizar aspectes generals d’història política, social i cultural (endògenes), amb les aportacions, ètniques i culturals (exògenes) rebudes a Catalunya al llarg del temps i que han configurat al capdavall la societat catalana, entesa com a formació cultural i socio-política, les variables de la qual han estat en contínua coevolució. Per tant tractar la dialèctica de com, en un període de temps, les aportacions exògenes és converteixen en endògenes, i sempre en una perspectiva temporal i històrica, ha estat l’objectiu del treball. La recerca bibliogràfica i la transposició didàctica han estat les principals components metodològiques. S’han tingut especialment en compte les aportacions de la historiografia contemporània, tot i que s’ha fet un esforç per integrar coneixement generat dels del punt de vista de l’arqueologia i l’antropologia, història de l’art, sociologia, etc. Pel que fa a la recerca didàctica el tret més important ha estat, precisament, el procés de transposició didàctica destinat a convertir el saber disciplinar en saber comprensible. El projecte “Multiculturalitat i interculturalitat en la Història de Catalunya” ha generat un estudi històric i didàctic de síntesi sobre història del país que es concreta en el manual “Catalunya+Suma”. Es tracta d’un manual d‘història de Catalunya dirigit a un horitzó d’ampli espectre i de manera molt especial als immigrants. Cal destacar també que el treball te un caràcter inicial i iniciàtic i que te possibilitats de desenvolupament posterior a partir de l’elaboració de materials didàctics i guies patrimonials expressament adreçada a la immigració i entorns afins. El manual “Catalunya+suma" vol incidir, prioritàriament en la formació inicial i permanent de la immigració, i en els espais formals, i no formals, d’ensenyament i aprenentatge.

Temporal trends in intergenerational social mobility in Switzerland: A cohort study of men and women born between 1912 and 1974

The central question addressed in this paper is to what extent the influence of social origin on life chances has changed over time for both men and women. In order to capture this change, intergenerational social mobility of eight different birth-cohorts, covering most of the entire twentieth century, is analysed using a unique collection of twelve Swiss national population sample surveys. The main results show that social mobility has remained constant across cohorts born in 1912 and those born in 1974. This suggests that unlike some other industrialised countries, inequality based on social origin is persistent in Switzerland.

Contrasting spatio-temporal climatic niche dynamics during the eastern and western invasions of spotted knapweed in North America

Aim The spotted knapweed (Centaurea stoebe), a plant native to south-east and central Europe, is highly invasive in North America. We investigated the spatio-temporal climatic niche dynamics of the spotted knapweed in North America along two putative eastern and western invasion routes. We then considered the patterns observed in the light of historical, ecological and evolutionary factors. Location Europe and North America. Methods The niche characteristics of the east and west invasive populations of spotted knapweed in North America were determined from documented occurrences over 120 consecutive years (1890-2010). The 2.5 and 97.5 percentiles of values along temperature and precipitation gradients, as given by the two first axes of a principal component axis (PCA), were then calculated. We additionally measured the climatic dissimilarity between invaded and native niches using a multivariate environmental similarity surface (MESS) analysis. Results Along both invasion routes, the species established in regions with climatic conditions that were similar to those in the native range in Europe. An initial spread in ruderal habitats always preceded spread in (semi-)natural habitats. In the east, the niche gradually increased over time until it reached limits similar to the native niche. Conversely, in the west the niche abruptly expanded after an extended time lag into climates not occupied in the native range; only the native cold niche limit was conserved. Main conclusions Our study reveals that different niche dynamics have taken place during the eastern and western invasions. This pattern indicates different combinations of historical, ecological and evolutionary factors in the two ranges. We hypothesize that the lack of a well-developed transportation network in the west at the time of the introduction of spotted knapweed confined the species to a geographically and climatically isolated region. The invasion of dry rangelands may have been favoured during the agricultural transition in the 1930s by release from natural enemies, local adaptation and less competitive vegetation, but further experimental and molecular studies are needed to explain these contrasting niche patterns fully. Our study illustrates the need and benefit of applying large-scale, temporally explicit approaches to understanding biological invasions.

Spatio-temporal differentiation and sociality in spiders.

Species that differ in their social system, and thus in traits such as group size and dispersal timing, may differ in their use of resources along spatial, temporal, or dietary dimensions. The role of sociality in creating differences in habitat use is best explored by studying closely related species or socially polymorphic species that differ in their social system, but share a common environment. Here we investigate whether five sympatric Anelosimus spider species that range from nearly solitary to highly social differ in their use of space and in their phenology as a function of their social system. By studying these species in Serra do Japi, Brazil, we find that the more social species, which form larger, longer-lived colonies, tend to live inside the forest, where sturdier, longer lasting vegetation is likely to offer better support for their nests. The less social species, which form single-family groups, in contrast, tend to occur on the forest edge where the vegetation is less robust. Within these two microhabitats, species with longer-lived colonies tend to occupy the potentially more stable positions closer to the core of the plants, while those with smaller and shorter-lived colonies build their nests towards the branch tips. The species further separate in their use of common habitat due to differences in the timing of their reproductive season. These patterns of habitat use suggest that the degree of sociality can enable otherwise similar species to differ from one another in ways that may facilitate their co-occurrence in a shared environment, a possibility that deserves further consideration.

Entrenament en atenció : Treball amb alumnat amb NEE

The purpose of this project was to analyze theattention span of students with mental retardation with Autism Spectrum Disorder (Asperger Syndrome) and with mild intellectual disabilities and behavioral disorders of an USEE class in a secondary school.

Experiències catalanes, angleses i irlandeses en el millorament de l’accès a l’habitatge

El Grup de Recerca d´Accés a l´Habitatge de la Universitat Rovira i Virgili ha portat a terme durant l´any 2011 una sèrie d´activitats gràcies a l´ajuda concedida per la convocatòria de l´AGAUR PBR-DGR 2010, que ha donat suport al Grup tant de forma directa (per exemple, en viatges i dietes) com indirecta (gràcies a l´ajuda prestada per la Sra. Helaine Cristina Madeira Santos, becària de suport al Grup de Recerca, que ha portat a terme tasques de coordinació i investigació). Així, el Grup ha portat a terme tasques d´investigació (per exemple, la signatura d´un Conveni amb l’Agència de l’Habitatge de Catalunya amb la finalitat de portar a terme en el termini de 3 anys l’elaboració d´un marc legislatiu sobre les tinences intermitges en el Dret català); tasques de formació (gràcies a la participació en Congressos i Jornades); esta coordinant una xarxa sobre grups d´habitatge (per exemple, mitjançant un Congrés internacional sobre habitatge celebrat a Granada); ha publicat llibres i articles científics (per exemple, la publicació dels treballs presentats en les III Jornades Internacionals de Housing de 2010); i finalment cal destacar que l´activitat del Grup ha tingut un gran impacte en els mitjans de comunicació. Tot aquest treball ha permès al Grup arribar a unes conclusions sobre el status quo de l´habitatge a Espanya, per exemple les mancances del mercat d´habitatge en propietat i en lloguer i els aspectes que cal reformar quant al règim tributari i processal d´aquestes formes de tinença immobiliària. La principal conclusió, però, és la necessitat de regular noves formes d´entendre la tinença de la terra tot seguint els models ja presents en altres països europeus (principalment, Anglaterra i Irlanda), com la propietat compartida i la propietat temporal, figures en les quals està aprofundint actualment el Grup de recerca.

Airport Congestion and Airline Network Structure

This paper provides a theoretical and empirical analysis of the relationship between airport congestion and airline network structure. We find that the development of hub-and-spoke (HS) networks may have detrimental effects on social welfare in presence of airport congestion. The theoretical analysis shows that, although airline pro ts are typically higher under HS networks, congestion could create incentives for airlines to adopt fully-connected (FC) networks. However, the welfare analysis leads to the conclusion that airlines may have an inefficient bias towards HS networks. In line with the theoretical analysis, our empirical results show that network airlines are weakly infl uenced by congestion in their choice of frequencies from/to their hub airports. Consistently with this result, we con firm that delays are higher in hub airports controlling for concentration and airport size. Keywords: airlines; airport congestion; fully-connected networks, hub-and-spoke net- works; network efficiency JEL Classifi cation Numbers: L13; L2; L93

Business Exits entail greater future levels of entrepreneurship? An empirical analysis at country level

Using Global Entrepreneurship Monitor data for 41 countries this study investigates the impact of business exit on entrepreneurial activity at the country level. The paper distinguishes between two types of entrepreneurial activity according with the motive to start a new business: entrepreneurs driven by opportunity and necessity motives. The findings indicate that exits have a positive impact on future levels of entrepreneurial activity in a country. For each exit in a given year, a larger proportion of entrepreneurial activity the following year. Moreover, this e ffect turns out to be higher for opportunity entrepreneurs. The findings indicate that both types of entrepreneurial activity rates are influenced by the same factors and in the same direction. However, for some factors we find a di fferential impact on the entrepreneurship. The results show some important implications given that business exit may be overcome when there is a necessity motivation. This has important implications for both researchers and policy makers. JEL codes: L26. Keywords: Entrepreneurship, business exit, social values

Determinants of Decentralization within the Firm: Some Empirical Evidence from Spanish Small and Medium- Sized Enterprise

This paper examines empirically the determinants of decentralization of decision- making in the firm for small and medium-sized enterprises (SMEs) that tend to be highly centralized. By decentralization of decisions we mean the delegation of decision rights from the owner or manager to the plant supervisor or even to floor workers. Our findings show that the allocation of authority to basic workers or a team of workers depends on firm characteristics such as firm size, the use of internal networks or the number of workplaces, and workers characteristics, in particular, the composition of the laborforce in terms of education and seniority and whether or not workers receive pay incentives. External factors such as the intensity of competition and the firm s export intensity are also important determinants of the allocation of authority.

Domestic and International Research Joint Ventures: The Effect of Collusion

We analyze the effect of research joint ventures (RJVs) on consumer welfare in an international context when collusion can occur. The main novelty of our analysis is to study the differentiated effect of domestic and international RJVs. The recent literature shows that RJVs with collusion harm consumers. However, our results introduce a qualifi cation to this statement: international RJVs with collusion might be bene ficial for consumers when internationalization costs are high. The EU and US competition policy advises against RJVs that facilitate collusion on the grounds of their expected negative effects. Our results suggest that antitrust authorities should distinguish between domestic and international RJVs and, in certain cases, be more benevolent with international RJVs. Keywords: collusion; domestic research joint venture; international research joint venture JEL Classi fication Numbers: K21, L24, L44, O32

Spatio-temporal micromeasurements of the oxygen uptake in the developing chick embryo.

A method has been developed for the determination of the oxygen uptake of small areas (0.01 mm2) in an entire chick embryo cultured in vitro under defined metabolic conditions. It is based on the recordings of the spectral changes of the hemoglobin used as oxygen source for the respiring tissue (Barzu and Borza, 1967). Rapid scanning of the hemoglobin absorbance over the preparation allows a comparison of the O2 uptake of various regions. Values of the order of 10(-2) 1 O2 . min-2 are measured in less than 10 sec with a spatial resolution of 100 micron. The differentiation of embryonic tissue is not disturbed by the measurements. The O2 diffusion in the media and in the tissue has been analyzed by digital simulation. The O2 uptake of the Hensen's node was measured from embryos starting at the stage of definitive primitive streak (stage 4) up to the stage of 10 somites. It increases from 0.6 to 1.1 nl . h-1 with a marked acceleration between stages 4 and 5. The values corrected for the protein content of the Hensen's node at stage 4, 5, 6 and 8 are 32, 30 and 28 microliter . mg-1 . h-1 respectively. The first scanning results show different patterns of the O2 utake at the level of the Hensen's node and of the neural plate. At stage 6-7, the corrected O2 uptake is 30 microliter . mg-1 . h-1 for . the former and 43 microliter . mg-1 . h-1 for the latter.