The relationship between sexual dimorphism in human faces and fluctuating asymmetry

Previous studies have found both support and lack of support for a positive relationship between masculinity and symmetry, two putative signs of mate quality, in male faces. We re-examined this relationship using an explicit measure of facial fluctuating asymmetry, as well as other measures of asymmetry, and measures of facial masculinity/femininity. We also used ratings of these traits for faces. Further, we examined the relationship between facial sexual dimorphism and body asymmetry. We found no significant correlations between facial masculinity and any of our measures of asymmetry or ratings of symmetry in males. Facial femininity was not consistently associated with facial symmetry in females, but was associated with body symmetry. Therefore, for females, but not males, facial femininity and body symmetry may reflect similar aspects of mate quality. We also examined the relationships between trait ratings and measurements. Our results provide validation of our ability to measure aspects of asymmetry that are perceived to be symmetrical, and aspects of sexual dimorphism that are perceived as feminine in females and masculine in males.

TMS stimulus-response asymmetry in left- and right handed individuals

There have been inconsistencies in the literature regarding asymmetrical neural control and results of experiments using TMS techniques. Therefore, the aim of this study was to further our understanding of the neural relationships that may underlie performance asymmetry with respect to the distal muscles of the hand using a TMS stimulus–response curve technique. Twenty-four male subjects (12 right handed, 12 left handed) participated in a TMS stimulus–response (S–R) curve trial. Focal TMS was applied over the motor cortex to find the optimal position for the first dorsal interossei muscle and to determine rest threshold (RTh). Seven TMS intensities ranging from 90 to 150 % of RTh were delivered in 10 % increments. One single TMS block consisted of 16 stimuli at each intensity. Peak-to-peak amplitudes were measured and the S–R curve generated. In right-handed subjects, the mean difference in slopes between the right and left hand was −0.011 ± 0.03, while the mean difference between hands in left-handed subjects was −0.049 ± 0.08. Left-handed normalized data in right handers displayed a mean of 1.616 ± 1.019 (two-tailed t test p < 0.05). The left-handed group showed a significant change in the normalized slope as indicated by a mean of 1.693 ± 0.149 (two-tailed t test p < 0.00006). The results found in this study reinforce previous work which suggests that there is an asymmetry in neural drive that exists in both left- and right-handed individuals. However, the results show that the non-dominant motor hemisphere displays a greater amount of excitability than the dominant, which goes against the conventional dogma. This asymmetry indicates that the non-dominant hemisphere may have a higher level of excitation or a lower level of inhibition for both groups of participants.

Analysis of fetal heart rate asymmetry before and after 35 weeks of gestation

In this study, we have investigated the evidence of fetal heart rate asymmetry and how the fetal heart rate asymmetry changes before and after 35 weeks of gestation. Noninvasive fetal electrocardiogram (fECG) signals from 45 pregnant women at the gestational age from16 to 41 weeks with normal single pregnancies were analysed. A nonlinear parameter called heart rate asymmetry (HRA) index that measures time asymmetry of RR interval time-series signal was used to understand the changes of HRA in early and late fetus groups. Results indicate that fetal HRA measured by Porta's Index (PI) consistently increases after 35 weeks gestation compared to foetus before 32 weeks of gestation. It might be due to significant changes of sympatho-vagal balance towards delivery with more sympathetic surge. On the other hand, Guzik's Index (GI) showed a mixed effect i.e., increases at lower lags and decreases at higher lags. Finally, fHRA could potentially help identify normal and the pathological autonomic nervous system development.

Relationship banking: does it lower information asymmetry or increase lender monopoly power?

A literatura teórica sobre economia bancária aponta que o relacionamento duradouro entre um emprestador e uma firma tomadora pode revelar informações sobre a qualidade de crédito da firma. Entretanto, trabalhos teóricos preveem diferentes resultados do efeito do relacionamento bancário sobre a taxa de juros e volume ofertado do empréstimo. De acordo com Diamond (1991) e outros, se o relacionamento bancário for revelar a todos os credores a qualidade de crédito da firma, espera-se como efeitos o aumento do volume dos empréstimos e redução na taxa de juros. Por outro lado, se o relacionamento bancário revelar as informações de crédito da firma apenas para o fornecedor principal, então se pode não ter os efeitos de aumento do volume e redução na taxa de juros. Este trabalho demonstra empiricamente quais são os efeitos das informações públicas e privadas geradas pelo relacionamento bancário no montante do empréstimo e na taxa de juros cobrada pelas instituições financeiras para as firmas. Usamos como medida de informação pública o tempo de relacionamento entre o banco e tomador, que pode ser encontrado em bureaux externos como Serasa Experian e Serviço Central de Proteção ao Crédito (SCPC) ou no Sistema de Informação do Banco Central (SISBACEN). Usamos como modelo de informação privada medidas que indicam o pagamento do débito em atraso por parte do tomador, o qual é de conhecimento apenas de cada credor. De acordo com a teoria, espera-se que a informação pública de tempo de relacionamento bancário indicará a qualidade do credor e resultará em maior volume de empréstimo e taxa de juros menores. As informações privadas sobre pagamentos em atraso, por ser exclusiva do credor principal, não terão efeitos sobre o montante do empréstimo e sobre a taxa de juros. No teste empírico, foram analisados dois mil setecentos e oitenta e cinco empréstimos do produto capital de giro concedidos a cinquenta e três empresas, fornecidos por uma instituição financeira do Estado do Espírito Santo. Utilizando o modelo econométrico dados em painel com efeito fixo de firma, encontramos que o tempo de relacionamento bancário é positivamente correlacionado ao valor do principal do empréstimo e é negativamente correlacionado ao spread bancário. Ambos os efeitos são estatisticamente significantes ao nível de 5,00%. Resultados similares ao encontrado por Berger e Udell (1995). Os resultados mostram que um relacionamento duradouro entre firmas e instituições financeiras reduz a assimetria de informação, gerando benefícios para as firmas. Para testar o feito da informação privada, foram utilizadas informações de atraso das firmas com a instituição financeira. Esses dados foram usados internamente, não divulgados em bureaux de crédito. As variáveis testadas foram número de parcelas pagas em atraso no mês anterior, a soma das parcelas pagas em atraso, flag se já efetuou pagamento em atraso e meses desde o último pagamento em atraso. Não têm efeito as informações privadas sobre o spread e o valor do principal do empréstimo. Resultados similares aos encontrados por Sharpe (1990).

Information asymmetry and competition in credit markets: the pricing of overdraft loans in Brazil

This paper evaluates how information asymmetry affects the strength of competition in credit markets. A theory is presented in which adverse selection softens competition by decreasing the incentives creditors have for competing in the interest rate dimension. In equilibirum, although creditors compete, the outcome is similar to collusion. Three empirical implications arise. First, interest rate should respond asymmetrically to changes in the cost of funds: increases in cost of funds should, on average, have a larger effect on interest rates than decreases. Second, aggressiveness in pricing should be associated with a worseing in the bank level default rates. Third, bank level default rates should be endogenous. We then verify the validity of these three empirical implications using Brazilian data on consumer overdraft loans. The results in this paper rationalize seemingly abnormallly high interest rates in unsecured loans.

Information asymmetry and transaction costs in a cross-cultural business transaction

The intent of this paper is to provide a practitioners insight into the present and foreseeable future of problem of transaction cost economics related to culture and business etiquette that may increase the of complexity of business communication. We will also explore whether it impacts participant's mindsets regarding opportunistic or passive aggressive behavior. We will study the role of culture, ethics, information asymmetry, and legal systems regarding their importance towards the business contracts and lack of knowledge in local environments. We will make connections to contract theory strategies and objectives and recommend business practices. Furthermore, economic theory explores the role of the impossibility of the perfect contract. Historical and present day operational factors are examined for the determination of forward-looking contract law indications worldwide. This paper is intended provide a practitioners view with a global perspective of a multinational, mid-sized and small corporations giving consideration in a non-partisan and non-nationalistic view, yet examines the individual characteristics of the operational necessities and obligations of any corporation. The study will be general, yet cite specific articles to each argument and give adequate consideration to the intricacies of the global asymmetry of information. This paper defends that corporations of any kind and size should be aware of the risk of international business etiquette and cultural barriers that might jeopardize the savings you could obtain from engaging international suppliers.

Morphological asymmetry and broiler welfare

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)