Related Lending and Bank Performance: Evidence from Indonesia

After the Asian financial crisis of 1997, it was confirmed that banks lend to their related parties in many countries. The question examined in this article is whether related lending functions to alleviate the problems of asymmetric information or transfers profits from depositors and minority shareholders to related parties. The effects of related lending on the profitability and risk of banks in Indonesia are examined using panel data from 1994 to 2007 comprising a total of 74 Indonesian banks. The effects on return on asset (ROA) varied at different periods. Before and right after the crisis, a higher credit allocation to related parties increased ROA. In middle of the crisis, it turned to negative; and this has also been the case in the most recent period as the Indonesian economy has normalized. Effects of related lending on bank risk measured by the Z-score and non-performing loan is not clear. After undergoing bank restructuring, related lending has decreased and the profit structure of banks has changed.

Doctoris Francisci Suarez ... de Societate Iesu ... Varia opuscula theologica ...

1. De concursu, motione, & auxilio Dei lib III - 2. De scientia Dei futurorum contingentium lib. II - 3. De auxilio efficaci brevis resolutio - 4. De libertate diuinae voluntatis relectio prior - 5. De reuiuiscentia meritorum relectio altera - 6. De iustitia Dei disputatio

Doctoris Francisci Suarez ... de Societate Iesu ... Varia opuscula theologica ...

Segundo imp. tomado del colofón en 3A8r

Richardi Sancti Victoris ... O[mn]ia opera in vnum volumen congesta solerti cura ac diligentia emendata atq[ue] nunc primum parrisiis impressa.

Lugar y fecha de imp. tomados del colofón

Cassiodori ... doctissima et religiosissima Psalterij dauidici expositio : q[uam] plurima enucleans que vel idioma aliquod diuino eloquio propriu[m] vel dogma singulare vel diffinitione[m], vel schema, vel etymologia[m], vel interpretatione[m], vel rhetor

Sign.: a10, b-z8, [et]8, [cum]8, [rum]8, A-C8, D-E6

Correlation between ileal digestibility of amino acids and chemical composition of soybean meals in broilers at 21 days of age

The correlations between chemical composition and coefficient of standardized ileal digestibility (CSID) of crude protein (CP) and amino acids (AA) were determined in 22 soybean meal (SBM) samples originated from USA (n = 8), Brazil (BRA; n = 7) and Argentina (ARG; n = 7) in 21-day old broilers. Birds were fed a commercial maize-SBM diet from 1 to 17 days of age followed by the experimental diets in which the SBM tested was the only source of protein (205 g CP/kg) for three days. Also, in vitro nitrogen (N) digestion study was conducted with these samples using the two-step enzymatic method. The coefficient of apparent ileal digestibility (CAID) of the SBM, independent of the origin, varied from 0.820 to 0.880 for CP, 0.850 to 0.905 for lysine (Lys), 0.859 to 0.907 for methionine (Met) and 0.664 to 0.750 for cysteine (Cys). The corresponding CSID values varied from 0.850 to 0.966 for CP, 0.891 to 0.940 for Lys, 0.931 to 0.970 for Met and 0.786 to 0.855 for Cys. The CSID of CP and Lys of the SBM were positively correlated with CP (r = 0.514; P menor que 0.05 and r = 0.370; P = 0.09, respectively), KOH solubility (KOH sol.) (r = 0.696; P menor que 0.001 and r = 0.619; P menor que 0.01, respectively), trypsin inhibitor activity (TIA) (r = 0.541; P menor que 0.01 and r = 0.416; P = 0.05, respectively) and reactive Lys (r = 0.563; P menor que 0.01 and r = 0.486; P menor que 0.05) values, but no relation was observed with neutral detergent fiber and oligosaccharide content. No relation between the CSID of CP determined in vivo and N digestibility determined in vitro was found. The CSID of most key AA were higher for the USA and the BRA meals than for the ARG meals. For Lys, the CSID was 0.921, 0.919 and 0.908 (P menor que 0.05) and for Cys 0.828, 0.833 and 0.800 (P menor que 0.01) for USA, BRA and ARG meals, respectively. It is concluded that under the conditions of this experiment, the CSID of CP and Lys increased with CP content, KOH sol., TIA and reactive Lys values of the SBM. The CSID of most limiting AA, including Lys and Cys, were higher for USA and BRA meals than for ARG meals.

Volum, e recopilacio de tots los furs, y actes de Cort, que tracten dels negocis, y affers respectants a la Casa de la Deputacio y Generalitat de la Ciutat, y Regne de Valencia : en execucio del Fur 83 de les Corts del Any M.DC.III

En colofón añade como editor:"A despeses de la Deputacio, y la Generalitat de dita Ciutat, y Regne ..."

Vista general [Material gráfico] : Játiva

Diapositiva. Valencia: Biblioteca Valenciana, ca. 1998

Considerações a respeito da atualidade do conceito de totalitarismo em Hannah Arendt

Inclui bibliografia

QSAR e dinâmica molecular no estudo de sistemas biomoleculares: predição da atividade biológica de antagonistas do receptor sigma-1 e simulações de bicamadas lipídicas

Diferentes abordagens teóricas têm sido utilizadas em estudos de sistemas biomoleculares com o objetivo de contribuir com o tratamento de diversas doenças. Para a dor neuropática, por exemplo, o estudo de compostos que interagem com o receptor sigma-1 (Sig-1R) pode elucidar os principais fatores associados à atividade biológica dos mesmos. Nesse propósito, estudos de Relações Quantitativas Estrutura-Atividade (QSAR) utilizando os métodos de regressão por Mínimos Quadrados Parciais (PLS) e Rede Neural Artificial (ANN) foram aplicados a 64 antagonistas do Sig-1R pertencentes à classe de 1-arilpirazóis. Modelos PLS e ANN foram utilizados com o objetivo de descrever comportamentos lineares e não lineares, respectivamente, entre um conjunto de descritores e a atividade biológica dos compostos selecionados. O modelo PLS foi obtido com 51 compostos no conjunto treinamento e 13 compostos no conjunto teste (r² = 0,768, q² = 0,684 e r²teste = 0,785). Testes de leave-N-out, randomização da atividade biológica e detecção de outliers confirmaram a robustez e estabilidade dos modelos e mostraram que os mesmos não foram obtidos por correlações ao acaso. Modelos também foram gerados a partir da Rede Neural Artificial Perceptron de Multicamadas (MLP-ANN), sendo que a arquitetura 6-12-1, treinada com as funções de transferência tansig-tansig, apresentou a melhor resposta para a predição da atividade biológica dos compostos (r²treinamento = 0,891, r²validação = 0,852 e r²teste = 0,793). Outra abordagem foi utilizada para simular o ambiente de membranas sinápticas utilizando bicamadas lipídicas compostas por POPC, DOPE, POPS e colesterol. Os estudos de dinâmica molecular desenvolvidos mostraram que altas concentrações de colesterol induzem redução da área por lipídeo e difusão lateral e aumento na espessura da membrana e nos valores de parâmetro de ordem causados pelo ordenamento das cadeias acil dos fosfolipídeos. As bicamadas lipídicas obtidas podem ser usadas para simular interações entre lipídeos e pequenas moléculas ou proteínas contribuindo para as pesquisas associadas a doenças como Alzheimer e Parkinson. As abordagens usadas nessa tese são essenciais para o desenvolvimento de novas pesquisas em Química Medicinal Computacional.

Antitrust, regulatory capture and economic integration. Bruegel Policy Contribution ISSUE 2015/11, JULY 2015

There is growing worldwide concern about bias in the enforcement of competition law in favour of domestic firms. Even seemingly neutral antitrust laws can lead discrimination if they are enforced selectively. - Authors investigate the distortions that national competition authorities generate when they pursue non-competition goals in favour of domestic firms, and discuss ways to address this negative policy development in a globalised world. - The distortions identified in the paper would dissipate if governments agreed that the sole objective of competition law ought to be the protection of consumer welfare that competition-law institutions ought to be protected against capture. - A realistic and effective way to prompt international convergence towards independent enforcement of competition laws is through the inclusion of competition clauses in bilateral trade agreements and the development of dispute-resolution mechanisms.

Data compilation of ESOP

The work in this sub-project of ESOP focuses on the advective and convective transforma-tion of water masses in the Greenland Sea and its neighbouring areas. It includes observational work on the sub-mesoscale and analysis of hydrographic data up to the gyre-scale. Observations of active convective plumes were made with a towed chain equipped with up to 80 CTD sensors, giving a horizontal and vertical resolution of the hydrographic fields of a few metres. The observed scales of the penetrative convective plumes compare well with those given by theory. On the mesoscale the structure of homogeneous eddies formed as a result of deep convection was observed and the associated mixing and renewal of the intermediate layers quantified. The relative importance and efficiency of thermal and haline penetrative convection in relation to the surface boundary conditions (heat and salt fluxes and ice cover) and the ambient stratification are studied using the multi year time series of hydro-graphic data in the central Greenland Sea. The modification of the water column of the Greenland Sea gyre through advection from and mixing with water at its rim is assessed on longer time scales. The relative contributions are quantified using modern water mass analysis methods based on inverse techniques. Likewise the convective renewal and the spreading of the Arctic Intermediate Water from its formation area is quantified. The aim is to budget the heat and salt content of the water column, in particular of the low salinity surface layer, and to relate its seasonal and interannual variability to the lateral fluxes and the fluxes at the air-sea-ice interface. This will allow to estimate residence times for the different layers of the Greenland Sea gyre, a quantity important for the description of the Polar Ocean carbon cycle.

Solar radiation over and under sea ice during the POLARSTERN cruise ARK-XXVI/3 (TransArc) in summer 2011

Arctic sea ice has declined and become thinner and younger (more seasonal) during the last decade. One consequence of this is that the surface energy budget of the Arctic Ocean is changing. While the role of surface albedo has been studied intensively, it is still widely unknown how much light penetrates through sea ice into the upper ocean, affecting sea-ice mass balance, ecosystems, and geochemical processes. Here we present the first large-scale under-ice light measurements, operating spectral radiometers on a remotely operated vehicle (ROV) under Arctic sea ice in summer. This data set is used to produce an Arctic-wide map of light distribution under summer sea ice. Our results show that transmittance through first-year ice (FYI, 0.11) was almost three times larger than through multi-year ice (MYI, 0.04), and that this is mostly caused by the larger melt-pond coverage of FYI (42 vs. 23%). Also energy absorption was 50% larger in FYI than in MYI. Thus, a continuation of the observed sea-ice changes will increase the amount of light penetrating into the Arctic Ocean, enhancing sea-ice melt and affecting sea-ice and upper-ocean ecosystems.

(Table A1) CaCO3 contents and Sr/Ca ratios in ODP Leg 130, 138 and 154

Strontium/calcium (Sr/Ca) ratios in bulk and foraminiferal calcite have been used to constrain the history of Sr/Ca in the oceans and to evaluate calcite diagenetic alteration. However bulk Sr/Ca records also may be influenced by differences in Sr uptake and/or in the diagenetic susceptibility of different calcium carbonate sedimentary components. We present data on the sediment size fraction and calcium carbonate distribution in bulk samples, Sr/Ca in a range of sedimentary size components, and Sr/Ca in bulk sediments. Ocean Drilling Program samples from sites on Ontong Java Plateau and Ceara Rise (in the western equatorial Pacific and Atlantic, respectively) and from sites in the eastern equatorial Pacific were selected to represent progressive stages in the diagenetic pathway from the sea floor through a range of burial depths equivalent to sediment ages of ~5.6, ~9.4, and ~37.1 Ma. Samples were subdivided by size to produce a unique data set of size-specific Sr/Ca ratios. Fine fraction (<45 ?m) Sr/Ca ratios are higher than those of all corresponding coarse fractions, indicating that fine nannofossil-dominated calcite has a Sr partition coefficient 1.3-1.5 times greater than that of coarse foraminifera-dominated calcite. Thus, absolute values of bulk Sr/Ca in contemporaneous samples reflect, in part, the ratio of fine to coarse calcite sedimentary components. Sr/Ca values in fine and coarse components also behave differently in their response to pre-burial dissolution and to recrystallization at depth. Coarse size components are sensitive to bottom water carbonate ion undersaturation, and they lose original Sr/Ca differences among contemporary samples over not, vert, similar10 my. In contrast, fine components recrystallize faster in more deeply buried samples. Interpretation of the historical Sr/Ca record is complicated by post-depositional diagenetic artifacts, and thus our data do not provide clear evidence of specific temporal changes in oceanic Sr/Ca ratios over the past 10 million years. This paper represents the first systematic attempt to examine trends in calcite Sr/Ca as a function of sediment size fraction and age.