Strategic trade policy, competition, and welfare: the case of voluntary export restraints between Britain and Japan (1971–2002)

I evaluate the voluntary export restraint placed on Japanese automobile exports from 1977 to 1999 by the UK. I show that the policy failed to assist the British domestic car industry. Instead, UK-based US multi-nationals and Japanese manufacturers were the primary beneficiaries, at a substantial cost to UK consumers. Whilst there are a number of caveats, the policy was on balance damaging to the UK economy in welfare terms.

Mandatory and voluntary information disclosure and the effects on financial analysts: evidence from China

Purpose – This paper aims to make a comparison, different from existing literature solely focusing on voluntary earnings forecasts and ex post earnings surprise, between the effects of mandatory earnings surprise warnings and voluntary information disclosure issued by management teams on financial analysts in terms of the number of followings and the accuracy of earnings forecasts. Design/methodology/approach – This paper uses panel data analysis with fixed effects on data collected from Chinese public firms between 2006 and 2010. It uses an exogenous regulation enforcement to minimise the endogeneity problem. Findings – This paper finds that financial analysts are less likely to follow firms which mandatorily issue earnings surprise warnings ex ante than those voluntarily issue earnings forecasts. Moreover, ex post, they issue less accurate and more dispersed forecasts on former firms. The results support Brown et al.’s (2009) finding in the USA and suggest that the earnings surprise warnings affect information asymmetries. Practical implications – This paper justifies the mandatory earnings surprise warnings policy issued by Chinese Securities Regulatory Commission in 2006. Originality/value – Mandatory earnings surprise is a unique practical regulation for publicly listed firms in China. This paper, for the first time, provides empirical evaluation on the effectiveness of a mandatory information disclosure policy in China. Consistent with existing literature on information disclosure by public firms in other countries, this paper finds that, in China, voluntary information disclosure captures more private information than mandatory information disclosure on corporate earnings ability.

Voluntary action and causality in temporal binding

Previous studies have documented temporal attraction in perceived times of actions and their effects. While some authors argue that voluntary action is a necessary condition for this phenomenon, others claim that the causal relationship between action and effect is the crucial ingredient. In the present study, we investigate voluntary action and causality as the necessary and sufficient conditions for temporal binding. We used a variation of the launching effect proposed by Michotte, in which participants controlled the launch stimulus in some blocks. Volunteers reported causality ratings and estimated the interval between the two events. Our results show dissociations between causality ratings and temporal estimation. While causality ratings are not affected by voluntary action, temporal bindings were only found in the presence of both voluntary action and high causality. Our results indicate that voluntary action and causality are both necessary for the emergence of temporal binding.

Effects of voluntary running on spatial memory and mature brain-derived neurotrophic factor expression in mice hippocampus after status epilepticus

Voluntary physical activity improves memory and learning ability in rodents, whereas status epilepticus has been associated with memory impairment. Physical activity and seizures have been associated with enhanced hippocampal expression of BDNF, indicating that this protein may have a dual role in epilepsy. The influence of voluntary physical activity on memory and BDNF expression has been poorly studied in experimental models of epilepsy. In this paper, we have investigated the effect of voluntary physical activity on memory and BDNF expression in mice with pilocarpine-incluced epilepsy. Male Swiss mice were assigned to four experimental groups: pilocarpine sedentary (PS), pilocarpine runners (PRs), saline sedentary (SS) and saline runners (SRs). Two days after pilocarpine-induced status epilepticus, the affected mice (PR) and their running controls (SR) were housed with access to a running wheel for 28 days. After that, the spatial memory and the expression of the precursor and mature forms of hippocampal BDNF were assessed. PR mice performed better than PS mice in the water maze test. In addition, PR mice had a higher amount of mature BDNF (14 kDa) relative to the total BDNF (14 kDa + 28 kDa + 32 kDa forms) content when compared with PS mice. These results show that voluntary physical activity improved the spatial memory and increased the hippocampal content of mature BDNF of mice with pilocarpine-induced status epilepticus. (C) 2009 Elsevier B.V. All rights reserved.

Informal sanctions and conditional cooperation: : A natural experiment on voluntary contributions to a public good.

In a natural experiment, this paper studies the impact of an informal sanctioning mechanism on individuals’ voluntary contribution to a public good. Cross-country skiers’ actual cash contributions in two ski resorts, one with and one without an informal sanctioning system, are used. I find the contributing share to be higher in the informal sanctioning system (79 percent) than in the non-sanctioning system (36 percent). Previous studies in one-shot public good situations have found an increasing conditional contribution (CC) function, i.e. the relationship between expected average contributions of other group members and the individual’s own contribution. In contrast, the present results suggest that the CC-function in the non-sanctioning system is non-increasing at high perceived levels of others’ contribution. This relationship deserves further testing in lab.

Mechanism of Muscle Vibrations During Stimulated and Voluntary Isometric Contractions of Mammalian Skeletal Muscle

When a muscle contracts it produces vibrations. The origin of these vibrations is not known in detail. The purpose of this study was to determine the mechanism associated with muscle vibrations. Mechanisms which have been proposed in the literature were described as theories (cross-bridge cycling, vibrating string and unfused motor unit theories). Specific predictions were derived from each theory, and tested in three conceptually different studies. In the first study, the influence of recruitment strategies of motor units (MUs) on the vibromyographic (VMG) signal was studied in the in-situ cat soleus using electrical stimulation of the soleus nerve. VMG signals increased with increasing recruitment and decreased with increasing firing rates of MUs. Similar results were obtained for the human rectus femoris (RF) muscle using percutaneous electrical stimulation of the femoral nerve. The influence of MU activation on muscle vibrations was studied in RF by analyzing VMG signals at different percentages (0-100%) of the maximal voluntary contraction (MVC). In our second study, we tested the effects of changing the material properties of the in-situ cat soleus (through muscle length changes) on the VMG signal. The magnitude of the VMG signal was higher for intermediate muscle lengths compared to the longest and the shortest muscle lengths. The decreased magnitude of the VMG signal at the longest and at the shortest muscle lengths was associated with increased passive stiffness and with decreased force transients during unfused contractions, respectively. In the third study, the effect of fatigue on muscle vibrations was studied in human RF and vastus lateralis (VL) musc1es during isometric voluntary contractions at a leveI of 70% MVC. A decrease in the VMG signal magnitude was observed in RF (presumably due to derecruitment of MUs) and an increase in VL (probably related to the enhancement of physiological tremor, which may have occurred predorninantly in a mediolateral direction) with fatigue. The unfused MU theory, which is based on the idea that force transients produced by MUs during unfused tetanic contraction is the mechanism for muscle vibrations, was supported by the results obtained in the above three studies.

Political budget cycles in a fiscal federation : the effect of partisan voluntary transfers

This article first presents an econometric study suggesting that intergovernmental transfers to Brazilian municipalities are strongly partisan motivated. In light of that stylized fact, it develops an extension to Rogoff (1990)’s model to analyze the effect of partisan motivated transfers into sub-national electoral and fiscal equilibria. The main finding is that important partisan transfers may undo the positive selection aspect of political budget cycles. Indeed, partisan transfers may, on one hand, eliminate the political budget cycle, solving a moral hazard problem, but, on the other hand, they may retain an incompetent incumbent in office, bringing about an adverse selection problem.

Coffee voluntary standards systems a study of the states of Minas Gerais and São Paulo

In order to adapt to new markets, the coffee supply chain has gone through numerous changes during the last years, which led to the creation of the voluntary standard systems. Adopting a Voluntary Standard System (VSS) consists of becoming a member of a certifier or verifier, in which an independent third party sets specific criteria to ensure a product complies with standards. Yet, the segment is still relatively new and raises some doubts about the economic and financial advantages of investing in sustainability-related certification. This study analyzes the perception of coffee producers about VSS – whether it brings economic benefits. The literature review covers various VSS in the coffee sector, the brief history of the commodity in Brazil, as well as the description of the supply chain. Certified and non-certified producers in the States of Sao Paulo and Minas Gerais, answered questionnaires to indicate the perceived advantages of certification. The results show that, despite some added value that certification can bestow, the quality is what really matter, since it allows producers to sell the product at higher prices and to gain advantage over competitors.

Voluntary intake of dry matter and performance of Nellore cows and their Nellore and crossbred Simental x Nellore calves

This study aimed to investigate the influence of calf genetic group on the performance of Nellore lactating cows. The variables studied included milk ingestion, pasture intake, calf weight gain and cow body weight. A total of 13 Nellore calves and 8 crossbred Simental x Nellore calves were used, all born from Nellore mothers. During the experimental period of 210 days, calves were weighted at birth and at 30-day intervals, whereas cows were weighed every 14 days. Milk intake was estimated using the weigh-suckle-weigh method. Pasture intake was determined 6, 12, and 24 weeks after birth by using chromic oxide as an external marker and indigestible acid detergent fiber as an internal marker. Average weight of crossbred calves was 10.1 kg and their milk intake was 0.42 kg higher than in purebred calves. There was no difference, however, in pasture intake between genetic groups. In Nellore cows, body weight and pasture consumption (9.2 kg of DM/cow/day) were not influenced by calf heterosis.

Voluntary intake of dry matter and performance of Nellore cows and their Nellore and crossbred Simental × Nellore calves

This study aimed to investigate the influence of calf genetic group on the performance of Nellore lactating cows. The variables studied included milk ingestion, pasture intake, calf weight gain and cow body weight. A total of 13 Nellore calves and 8 crossbred Simental × Nellore calves were used, all born from Nellore mothers. During the experimental period of 210 days, calves were weighted at birth and at 30-day intervals, whereas cows were weighed every 14 days. Milk intake was estimated using the weigh-suckle-weigh method. Pasture intake was determined 6, 12, and 24 weeks after birth by using chromic oxide as an external marker and indigestible acid detergent fiber as an internal marker. Average weight of crossbred calves was 10.1 kg and their milk intake was 0.42 kg higher than in purebred calves. There was no difference, however, in pasture intake between genetic groups. In Nellore cows, body weight and pasture consumption (9.2 kg of DM/cow/day) were not influenced by calf heterosis.

ACUTE EFFECT of STATIC STRETCHING on RATE of FORCE DEVELOPMENT and MAXIMAL VOLUNTARY CONTRACTION IN OLDER WOMEN

Gurjao, ALD, Goncalves, R, de Moura, RF, and Gobbi, S. Acute effect of static stretching on rate of force development and maximal voluntary contraction in older women. J Strength Cond Res 23(7): 2149-2154, 2009-The purpose of this study was to investigate, in older women, the acute effect of static stretching (SS) on both muscle activation and force output. Twenty-three older women (64.6 +/- 7.1 yr) participated in the study. The maximal voluntary contraction (MVC), rate of force development (RFD) (50, 100, 150, and 200 ms relative to onset of muscular contraction), and peak RFD (PRFD) (the steepest slope of the curve during the first 200 ms) were tested under 2 randomly separate conditions: SS and control (C). Electromyographic (EMG) activity of the vastus medialis (VM), vastus lateralis (VL), and biceps femoris (BF) muscles also was assessed. The MVC was significantly lower (p < 0.05) in the 3 trials of SS when compared with the C condition (control: 925.0 +/- 50.9 N; trial 1 : 854.3 +/- 55.3 N; trial 2 : 863.1 +/- 52.2 N; and trial 3 : 877.5 +/- 49.9 N). PRFD showed a significant decrease only for the first 2 trials of SS when compared with the C condition (control: 2672.3 +/- 259.1 N/s; trial 1 : 2296.6 +/- 300.7 N/s; and trial 2 : 2197.9 +/- 246.3 N/s). However, no difference was found for RFD (50, 100, 150, and 200 ms relative to onset of muscular contraction). The EMG activity for VM, VL, and BF was not significantly different between the C and SS conditions. In conclusion, the older women's capacity to produce muscular force decreased after their performance of SS exercises. The mechanisms responsible for this effect do not appear to be related to muscle activation. Thus, if flexibility is to be trained, it is recommended that SS does not occur just before the performance of activities that require high levels of muscular force.

Voluntary intake of Tanzania grass (Panicum maximum) under rotational grazing by lactating cows

The study was conducted at Nucleo de Pesquisas Zootecnicas Nordeste of the Instituto de Zootecnia, Ribeirao Preto, SP, in a rotational grazing area of Tanzania grass (Panicum maximum), to estimate the dry matter intake by lactanting cows. The estimation of dry matter intake was calculated from the feces production estimated using extrusa Chromium-mordent and the in vitro digestibility of diet. The three treatments were crossbreed cows fed 3 kg.day(-1) of concentrate, crossbred cows without concentrate suplementation and pure Gir cows also without concentrate supplementation. The milk production was 11.98, 6.53 and 5.46 kg per cow per day, the grass intake was 8.26 +/- 5.66, 11.01 +/- 5.37 and 9.55 +/- 2.31 kg of dry matter per day or 2.15%, 2.37% and 2.34% of live weight for the three experimental groups respectively. The milk production was higher (P<0.01) for cows fed with concentrate. No difference was found for dry matter intake.