963 resultados para Rate of Return


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In recent years, some of the ramifications of the ocean acidification problematic derived from the anthropogenic rising of atmospheric CO2 have been widely studied. In particular, the potential effects of a lowering pH on tropical coral reefs have received special attention. However, only a few studies have focused on testing the effects of ocean acidification in corals from the Mediterranean Sea, despite the fact that this basin is especially sensitive to increasing atmospheric CO2. In this context, we investigated the response to ocean acidification of the two zooxanthellate coral species capable of constituting the main framework of the community, the endemic Cladocora caespitosa and the non-native Oculina patagonica. To this end, we examined the response of both species to pCO2 concentrations expected by the end of the century, 800 ppm, vs the present levels. Calcification rate measurements after 92 days of exposure to low pH conditions showed the same negative response in both species, a decrease of 32-35% compared to corals reared under control conditions. In addition, we detected in both species a correlation between the calcification rate of colonies in control conditions and the degree of impairment of the same colonies at low pH. Independent of species, faster growing colonies were more affected by decreased pH. After this period of decreased pH, we conducted a recovery experiment, in which corals reared in the acidic treatment were brought back to control conditions. In this case, normal calcification rates were reached in both species. Overall, our results suggest that O. patagonica and C. caespitosa will both be affected detrimentally by progressive ocean acidification in the near future. They do not display differences in response between native and non-native species but do manifest differential responses depending on calcification rate, pointing to a role of the coral genetics in determining the response of corals to ocean acidification.

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The Canary Basin lies in a region of strong interaction between the atmospheric and ocean circulation systems: Trade winds drive seasonal coastal upwelling and dust storm outbreaks from the neighbouring Sahara desert are the major source of terrigenous sediment. To investigate the forcing mechanisms for dust input and wind strength in the North Canary Basin, the temporal pattern of variability of sedimentological and geochemical proxy records has been analysed in two sediment cores between latitudes 30°30'N and 31°40'N. Spectral analysis of the dust proxy records indicates that insolation changes related to eccentricity and precession are the main periods of temporal variation in the record. Si/Al and grain-size of the terrigenous fraction show an increase in glacial-interglacial transitions while Al concentration and Fe/Al ratio are both in phase with minima in the precessional index. Hence, the results obtained show that the wind strength was intensified at Terminations. At times of maxima of Northern Hemisphere seasonal insolation, when the African monsoon was enhanced, the North Canary Basin also received higher dust input. This result suggests that the moisture brought by the monsoon may have increased the availability of dust in the source region.

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Anthropogenic carbon dioxide (CO2) emissions reduce pH of marine waters due to the absorption of atmospheric CO2 and formation of carbonic acid. Estuarine waters are more susceptible to acidification because they are subject to multiple acid sources and are less buffered than marine waters. Consequently, estuarine shell forming species may experience acidification sooner than marine species although the tolerance of estuarine calcifiers to pH changes is poorly understood. We analyzed 23 years of Chesapeake Bay water quality monitoring data and found that daytime average pH significantly decreased across polyhaline waters although pH has not significantly changed across mesohaline waters. In some tributaries that once supported large oyster populations, pH is increasing. Current average conditions within some tributaries however correspond to values that we found in laboratory studies to reduce oyster biocalcification rates or resulted in net shell dissolution. Calcification rates of juvenile eastern oysters, Crassostrea virginica, were measured in laboratory studies in a three-way factorial design with 3 pH levels, two salinities, and two temperatures. Biocalcification declined significantly with a reduction of ~0.5 pH units and higher temperature and salinity mitigated the decrease in biocalcification.

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The carbonate chemistry of seawater is usually not considered to be an important factor influencing calcium-carbonate-precipitation by corals because surface seawater is supersaturated with respect to aragonite. Recent reports, however, suggest that it could play a major role in the evolution and biogeography of recent corals. We investigated the calcification rates of five colonies of the zooxanthellate coral Stylophora pistillata in synthetic seawater using the alkalinity anomaly technique. Changes in aragonite saturation from 98% to 585% were obtained by manipulating the calcium concentration. The results show a nonlinear increase in calcification rate as a function of aragonite saturation level. Calcification increases nearly 3-fold when aragonite saturation increases from 98% to 390%, i.e., close to the typical present saturation state of tropical seawater. There is no further increase of calcification at saturation values above this threshold. Preliminary data suggest that another coral species, Acropora sp., displays a similar behaviour. These experimental results suggest: (1) that the rate of calcification does not change significantly within the range of saturation levels corresponding to the last glacial-interglacial cycle, and (2) that it may decrease significantly in the future as a result of the decrease in the saturation level due to anthropogenic release of CO2 into the atmosphere. Experimental studies that control environmental conditions and seawater composition provide unique opportunities to unravel the response of corals to global environmental changes.

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Following the Office of Fair Trading's review of the British deregulated bus market as a whole in 2009, the issues raised were referred to the Competition Commission. Its final report was published in December 2011. Subsequently, the House of Commons Transport Committee carried out an enquiry into the Commission's report, and reactions to it by the operating industry, user groups, and other bodies, which was published in September 2012. A number of major issues have been raised, including the extent to which price competition may be effective, the appropriate rate of return on capital that would be expected within the industry (and appropriate actions where this is excessive in practice), and industry structure. The importance of competition per se, as distinct from attributes of direct concern to users (such as reliability, frequency, and fares) has also been debated. This paper reviews the issues raised, and outcomes to date, in the light of further evidence on the industry's performance. It is demonstrated similar rates of return could be attained through very different operating strategies, which in turn have very different implications for changes in consumer surplus. The alternative uses made of such profits (for example through reinvestment) may also have markedly different impacts effects on users. Rather than focussing on the dangers of excessive rates of return on capital, the outcomes for service users should be the main issue.

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This paper investigates the achievable sum-rate of uplink massive multiple-input multiple-output (MIMO) systems considering a practical channel impairment, namely, aged channel state information (CSI). Taking into account both maximum ratio combining (MRC) and zero-forcing (ZF) receivers at the base station, we present tight closed-form lower bounds on the sum-rate for both receivers, which provide efficient means to evaluate the sum-rate of the system. More importantly, we characterize the impact of channel aging on the power scaling law. Specifically, we show that the transmit power of each user can be scaled down by 1/√(M), which indicates that aged CSI does not affect the power scaling law; instead, it causes only a reduction on the sum rate by reducing the effective signal-to-interference-and-noise ratio (SINR).

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We investigate the achievable ergodic sum-rate of multi-user multiple-input multiple-output systems in Ricean fading channels. We first derive a lower bound on the average signal-to-leakage-and-noise ratio by utilizing the Mullen's inequality, which is then used to analyze the effect of channel mean information on the achievable sum-rate. With these results, a novel statistical-eigenmode space-division multipleaccess downlink transmission scheme is proposed. For this scheme, we derive an exact closed-form expression for the achievable ergodic sum-rate. Our results show that the achievable ergodic sum-rate converges to a saturation value in the high signal-to-noise ratio (SNR) region and reaches to a lower limit value in the lower Ricean K-factor range. In addition, we present tractable upper and lower bounds, which are shown to be tight for any SNR and Ricean K-factor value. Finally, the theoretical analysis is validated via numerical simulations.