955 resultados para IPO, market timing, Japan, Keiretsu


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Cooperatives have a long historical experience in the Spanish economy and have demonstrated their ability to compete against traditional firms in the market. To maintain this capability, while taking advantage of the competitive advantages associated with their idiosyncrasies as social economy enterprises, they should take into consideration that the economy is increasingly globalized and increasingly knowledge-based, especially with regards to technological content. As a consequence, the innovative capacity appears to be a key aspect in order to be able to challenge competitors. This article characterizes the innovative behavior of cooperatives in the region of Castile and Leon and analyses the internal and external factors affecting their innovative performance, based on data from a survey of 581 cooperatives. The results of the empirical analysis, which is performed by multivariate binary logistic regression on various types of innovation, lead us to identify the size of the organizations, the existence of planning, the R & D activities and the human capital as the main determining factors.

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For interpreting past changes on a regional or global scale, the timings of proxy-inferred events are usually aligned with data from other locations. However, too often chronological uncertainties are ignored in proxy diagrams and multisite comparisons, making it possible for researchers to fall into the trap of sucking separate events into one illusionary event (or vice versa). Here we largely solve this "suck in and smear syndrome" for radiocarbon (14C) dated sequences. In a Bayesian framework, millions of plausible age-models are constructed to quantify the chronological uncertainties within and between proxy archives. We test the technique on replicated high-resolution 14C-dated peat cores deposited during the "Little Ice Age" (c. AD 1400-1900), a period characterized by abrupt climate changes and severe 14C calibration problems. Owing to internal variability in proxy data and uncertainties in age-models, these (and possibly many more) archives are not consistent in recording decadal climate change. Through explicit statistical tests of palaeoenvironmental hypotheses, we can move forward to systematic interpretations of proxy data. However, chronological uncertainties of non-annually resolved palaeoclimate records are too large for answering decadal timescale questions.

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Cell size control and mitotic timing in Schizosaccharomyces pombe is coupled to the environment through several signal transduction pathways that include stress response, checkpoint and nutritional status impinging on Cdc25 tyrosine phosphatase and Wee1 tyrosine kinase. These in turn regulate Cdc2 (Cdk1) activity and through a double feedback loop, further activates Cdc25 on 12 possible phosphorylation sites as well as inhibiting Wee1. Phosphomutants of the T89 Cdc2 phosphorylation site on Cdc25, one with a glutamate substitution (T89E) which is known to phosphomimetically activate proteins and an alanine substitution (T89A), which is known to block phosphorylation, exhibit a small steady-state cell size (semi-wee phenotype), a known hallmark for aberrant mitotic control. To determine whether the T89 phosphorylation site plays an integral role in mitotic timing, the phosphomutants were subjected to nitrogen shifts to analyze their transient response in the context of nutritional control. Results for both up and downshifts were replicated for the T89E phosphomutant, however, for the T89A phosphomutant, only a nutritional downshift has been completed so far. We found that the steady-state cell size of both phosphomutants was significantly smaller than the wild-type and in the context of nutritional control. Furthermore, the constitutively activated T89E phosphomutant exhibits residual mitotic entry, whereas the wild-type undergoes a complete mitotic suppression with mitotic recovery also occurring earlier than the wild-type. In response to downshifts, both phosphomutants exhibited an identical response to the wild-type. Further characterization of the other Cdc2 phosphorylation sites on Cdc25 are required before conclusions can be drawn, however T89 remains a strong candidate for being important in activating Cdc25.

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This paper presents a new method for transmission loss allocation in a deregulated electrical power market. The proposed method is based on physical flow through transmission lines. The contributions of individual loads to the line flows are used as basis for allocating transmission losses to different loads. With minimum assumptions, that sound to be reasonable and cannot be rejected, a novel loss allocation formula is derived. The assumptions made are: a number of currents sharing a transmission line distribute themselves over the cross section in the same manner; that distribution causes the minimum possible power loss. Application of the proposed method is straightforward. It requires only a solved power flow and any simple algorithm for power flow tracing. Both active and reactive powers are considered in the loss allocation procedure. Results of application show the accuracy of the proposed method compared with the commonly used procedures.

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We present the first empirical test of the timing hypothesis regarding the generation of size-assortative pairing in amphipods. The timing hypothesis proposes that, since large males are better able to afford the costs of mate guarding than small males, the former can take larger females into precopula earlier in the female moult cycle than is feasible for the latter. This leaves small males to form pairs with smaller females closer to moult, thus generating size assortment. We presented male Gammarus pulex, collected both in precopula and as singletons, with females that were (1) previously guarded and therefore near to copulatory moult and (2) previously unguarded and therefore far from copulatory moult. This comparison tested the prediction of the timing hypothesis, that size assortment should break down when the opportunity for time-based male decisions is removed, but that size assortment should occur where timing is not disrupted. Counter to the hypothesis, we found that size assortment did not break down upon removal of the time factor. Large males tended to initiate mate guarding earlier than small males in both female moult groups. However, only in the previously unguarded group did large males guard for longer than small males. This result suggests that, although size assortment occurred in all groups, the causative mechanisms that generated this pattern may differ between these groups. We therefore consider the possible importance of mechanisms such as aggression, simultaneous manipulation of females and female resistance in producing size assortment where males encounter numerous females that are close to moult. We also observed that prior recent guarding experience by males had no effect on latency to guard or size-assortative pairing. (C) 2002 The Association for the Study of Animal Behaviour. Published by Elsevier Science Ltd. All rights reserved.

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It has often been supposed that patterns of rhythmic bimanual coordination in which homologous muscles are engaged simultaneously, are performed in a more stable manner than those in which the same muscles are activated in an alternating fashion. In order to assess the efficacy of this constraint, the present study investigated the effect of forearm posture (prone or supine) on bimanual abduction-adduction movements of the wrist in isodirectional and non-isodirectional modes of coordination. Irrespective of forearm posture, non-isodirectional coordination was observed to be more stable than isodirectional coordination. In the latter condition, there was a more severe deterioration of coordination accuracy/stability as a function of cycling frequency than in the former condition. With elevations in cycling frequency, the performers recruited extra mechanical degrees of freedom, principally via flexion-extension of the wrist, which gave rise to increasing motion in the vertical plane. The increases in movement amplitude in the vertical plane were accompanied by decreasing amplitude in the horizontal plane. In agreement with previous studies, the present findings confirm that the relative timing of homologous muscle activation acts as a principal constraint upon the stability of interlimb coordination. Furthermore, it is argued that the use of manipulations of limb posture to investigate the role of other classes of constraint (e.g. perceptual) should be approached with caution because such manipulations affect the mapping between muscle activation patterns, movement dynamics and kinematics.

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In Japan yaen koen or ‘wild monkey parks’ are popular visitor attractions that show free-ranging monkey troops to the paying public. Unlike zoos, which display animals through confinement, monkey parks control the movements of the monkeys through provisioning. The parks project an image of themselves as ‘natural zoos’, claiming to practice a more authentic form of wild animal display than that practiced by the zoo. This article critically evaluates the monkey park’s claim by examining park management of the monkeys. The monkey park’s claim to display ‘wild monkeys’ is shown to be questionable because of the way that provisioning changes monkey behaviour. Against the background of human encroachment onto the forest habitat of the monkey, the long-term effect of provisioning is to sedentarize what were nomadic monkeys and to turn the ‘wild monkey park’ into a megazoo.