Company financial performance: Does board size matter? Case of the EUROSTOXX50 index

[EN] This study analyzes the relationship between board size and economic-financial performance in a sample of European firms that constitute the EUROSTOXX50 Index. Based on previous literature, resource dependency and agency theories, and considering regulation developed by the OECD and European Union on the normative of corporate governance for each country in the sample, the authors propose the hypotheses of both positive linear and quadratic relationships between the researched parameters. Using ROA as a benchmark of financial performance and the number of members of the board as measurement of the board size, two OLS estimations are performed. To confirm the robustness of the results the empirical study is tested with two other similar financial ratios, ROE and Tobin s Q. Due to the absence of significant results, an additional factor, firm size, is employed in order to check if it affects firm performance. Delving further into the nature of this relationship, it is revealed that there exists a strong and negative relation between firm size and financial performance. Consequently, it can be asseverated that the generic recommendation one size fits all cannot be applied in this case; which conforms to the Recommendations of the European Union that dissuade using generic models for all countries.

Size composition of the catches of the pink shrimp Penaeus duorarum notialis in the shrimp fishery of Sierra Leone

Measurements were taken of size distribution of P. d. notialis collected off Sierra Leone over a period of six months from October 1977 to March 1978. From the frequency distribution curves it is observed that the curves for male shrimps show only one or two major modes, which show prominence between 12.5 and 14.1 cm of total length. Females mostly exhibited size groups with three or four different length ranges and occasional occurrence of 1 to 5 modes. These size groups were observed to show continuous changes. No one group could be said to be permanent. The point of entry into the fishery of male shrimps was found to be at an average total length of 10.5 cm, while females did so at 11 cm. Sex ratios in the different samples were usually 1:1 but in one case the males were more numerous by 2:1 and in four other samples females were significantly preponderent. These departures from the 1:1 ratio may have been artificially created by sorting of the catches on board the ships.

Avaliação de indicadores e áreas selecionadas de expansão da estratégia saúde da família na cidade do Rio de Janeiro

A Estratégia Saúde da Família na Cidade do Rio de Janeiro não pode ser pensada como um instrumento isolado no contexto de saúde local. A sua interação com a rede de saúde da cidade precisa ser considerada para que ocorra um fluxo de pacientes entre os níveis de atenção. O Rio de Janeiro é dividido em dez Áreas Programáticas com coordenações de saúde próprias. O tamanho e a diversidade das regiões da cidade do Rio de Janeiro faz com que estas áreas tenham necessidades particulares e, consequentemente exijam respostas diferenciadas para as questões de saúde. A área em foco neste estudo é a 3.1 onde se localiza o Complexo do Alemão. O Complexo é marcado pela pobreza, violência e exclusão social. No ano 2000 tinha o Índice Desenvolvimento Humano (IDH) de 0,474, um dos piores entre os bairros do Rio de Janeiro. O cenário de vulnerabilidade foi determinante para que o Complexo fosse uma das primeiras áreas a ter intervenções do Programa de Agentes Comunitários de Saúde e do Programa Saúde da Família na cidade do Rio de Janeiro. Este estudo procura relacionar as características da Estratégia Saúde da Família na Cidade do Rio de Janeiro com as características do modelo implantado no Complexo do Alemão, a partir de dados dos sistemas de informação e de busca bibliográfica sobre a região. Há características que são comuns ao Rio de Janeiro e ao Complexo do Alemão, como por exemplo, a falta de uma programação de referência e contra-referência para atender a demanda dos pacientes da Estratégia Saúde da Família nos níveis secundário e terciário de cuidados. Existem também características que são próprias do Complexo do Alemão, como por exemplo, a quantidade de equipes compatível com a população segundo as diretrizes do Ministério da Saúde, o que contrasta com a cidade como um todo que tem uma quantidade de equipes ainda pequena em relação à população.

Análisis de la desigualdad económica en los municipios del País Vasco agrupados por tamaño de la población. Economic Inequality in the municipalities of the Basque Country aggregated by population size.

This paper analyses the economic inequality in the municipalities of the Basque Country during the period 1996 and 2010. We have used dates from the Udalmap database mainly the GDP per capita. We have drawn Lorenz Curves and also we have computed Gini indexes to analyse the evolution of inequality during this period. Therefore, we have concluded that there has been an increase of the economic inequality in the municipalities of the Basque Country during this period of time.

Techniques for fabrication of large-size graded reflectivity mirrors

According to the parameter requirements of a graded reflectivity mirror with a Gaussian profile, the layer structure and the mask pattern are designed using a graded-thickness middle layer. The mask and the automatic mask-switchover equipment are designed considering the actual requirement of the thin films and the specific deposit facility. The uniformity of the layer thickness is analyzed. The measurement results indicate that samples prepared with this technique are basically in accordance with the design parameter. The scattering effect between the material molecules and the mask, thickness errors, and the alignment error between the mask and the substrate are the main factors that influence the deposit result. (c) 2008 Society of Photo-Optical Instrumentation Engineers. [DOI: 10.1117/1.3027595]

Effects of the 1997-1998 El Niño on population size and diet of the Galápagos sea lion (Zalophus wollebaeki)

The multi-annual climatic event, El Niño Southern Oscillation (ENSO) is an important factor in the population dynamics of coastal marine species in the Galápagos. The Galápagos sea lion, Zalophus wollebaeki, suffered an apparent population decline of about 50%, considering both mortality and movements away from study sites during the 1997-98 El Niño. This change was in part due to changes in the availability of sardines of the Family Clupeidae, its main prey. These declines resulted partly from elevated mortality (35%) in sea lion colonies, particularly among pups, juveniles (< 1 year old), and dominant males and as a result of movements of adults elsewhere (15%), presumably where there were alternative prey and better environmental conditions.