Foreign and Domestic Bank Performances: An Ideal Decomposition of Industry Dynamics

The aggregate performance of the banking industry depends on the underlying microlevel dynamics within that industry. adjustments within banks, reallocations between banks, entries of new banks, and exits of existing banks. This paper develops a generalized ideal dynamic decomposition and applies it to the return on equity of foreign and domestic commercial banks in Korea from 1994 to 2000. The sample corresponds to the Asian financial crisis and the final stages of a long process of deregulation and privatization in the Korean banking industry. The comparison of our findings reveals that the overall performance of Korean banks largely reflects individual bank efficiencies, except immediately after the Asian financial crisis where restructuring played a more important role on average bank performance. Moreover, Korean regional banks started the restructuring process about one year before the Korean nationwide banks. Foreign bank performance, however, largely reflected individual bank efficiencies, even immediately after the Asian financial crisis.

Decomposition of $\rm R\times C$ contingency table chi -square: Application to binned DNA fragment size data and population structure analysis

The purpose of this research is to develop a new statistical method to determine the minimum set of rows (R) in a R x C contingency table of discrete data that explains the dependence of observations. The statistical power of the method will be empirically determined by computer simulation to judge its efficiency over the presently existing methods. The method will be applied to data on DNA fragment length variation at six VNTR loci in over 72 populations from five major racial groups of human (total sample size is over 15,000 individuals; each sample having at least 50 individuals). DNA fragment lengths grouped in bins will form the basis of studying inter-population DNA variation within the racial groups are significant, will provide a rigorous re-binning procedure for forensic computation of DNA profile frequencies that takes into account intra-racial DNA variation among populations. ^

Distribution of marine litter at bathyal and abyssal depths in the Mediterranean Sea

The distribution, type and quantity of marine litter accumulated on the bathyal and abyssal Mediterranean seafloor has been studied in the framework of the Spanish national projects PROMETEO and DOS MARES and the ESF-EuroDEEP project BIOFUN. Litter was collected with an otter trawl and Agassiz trawl while sampling for megafauna on the Blanes canyon and adjacent slope (Catalan margin, north-western Mediterranean) between 900 and 2700 m depth, and on the western, central and eastern Mediterranean basins at 1200, 2000 and 3000 m depth. All litter was sorted into 8 categories (hard plastic, soft plastic, glass, metal, clinker, fabric, longlines and fishing nets) and weighed. The distribution of litter was analysed in relation to depth, geographic area and natural (bathymetry, currents and rivers) and anthropogenic (population density and shipping routes) processes. The most abundant litter types were plastic, glass, metal and clinker. Lost or discarded fishing gear was also commonly found. On the Catalan margin, although the data indicated an accumulation of litter with increasing depth, mean weight was not significantly different between depths or between the open slope and the canyon. We propose that litter accumulated in the canyon, with high proportions of plastics, has predominantly a coastal origin, while litter collected on the open slope, dominated by heavy litter, is mostly ship-originated, especially at sites under major shipping routes. Along the trans-Mediterranean transect, although a higher amount of litter seemed to be found on the Western Mediterranean, differences of mean weight were not significant between the 3 geographic areas and the 3 depths. Here, the shallower sites, also closer to the coast, had a higher proportion of plastics than the deeper sites, which had a higher proportion of heavy litter and were often affected by shipping routes. The weight of litter was also compared to biomass of megafauna from the same samples. On the Blanes slope, the biomass of megafauna was significantly higher than the weight of litter between 900 and 2000 m depth and no significant differences were found at 2250 and 2700 m depth. Along the trans-Mediterranean transect, no significant differences were found between biomass and litter weight at all sites except in two sites: the Central Mediterranean at 1200 m depth, where biomass was higher than litter weight, and the Eastern Mediterranean at 1200 m depth, where litter weight was higher than biomass. The results are discussed in the framework of knowledge on marine litter accumulation, its potential impact on the habitat and fauna and the legislation addressing these issues.

(Table 1) Biomass and total standing crop of major wet sedge tundra species at five sites at Alexandra Fiord in 1981 and 2005

The global climate is changing rapidly and Arctic regions are showing responses to recent warming. Responses of tundra ecosystems to climate change have been examined primarily through short-term experimental manipulations, with few studies of long-term ambient change. We investigated changes in above- and belowground biomass of wet sedge tundra to the warming climate of the Canadian High Arctic over the past 25 years. Aboveground standing crop was harvested from five sedge meadow sites and belowground biomass was sampled from one of the sites in the early 1980s and in 2005 using the same methods. Aboveground biomass was on average 158% greater in 2005 than in the early 1980s. The belowground biomass was also much greater in 2005: root biomass increased by 67% and rhizome biomass by 139% since the early 1980s. Dominant species from each functional group (graminoids, shrubs and forbs) showed significant increases in aboveground biomass. Responsive species included the dominant sedge species Carex aquatilis stans, C. membranacea, and Eriophorum angustifolium, as well as the dwarf shrub Salix arctica and the forb Polygonum viviparum. However, diversity measures were not different between the sample years. The greater biomass correlated strongly with increased annual and summer temperatures over the same time period, and was significantly greater than the annual variation in biomass measured in 1980-1983. Increased decomposition and mineralization rates, stimulated by warmer soils, were likely a major cause of the elevated productivity, as no differences in the mass of litter were found between sample periods. Our results are corroborated by published short-term experimental studies, conducted in other wet sedge tundra communities which link warming and fertilization with elevated decomposition, mineralization and tundra productivity. We believe that this is the first study to show responses in High Arctic wet sedge tundra to recent climate change.