Family involvement and firms’ establishment mode choice in foreign markets

Extant literature on foreign entry increasingly recognizes firms’ heterogeneity as a potential reason for inconsistency in results on the establishment mode choice, i.e. whether and under which conditions firms should choose to enter a new country through a greenfield investment or an acquisition. Our study contributes to this debate by identifying family ownership and family involvement in management as potential powerful sources of such heterogeneity. Integrating international business studies with both corporate finance literature on family firms and recent contributions from the Socio Emotional Wealth perspective on family ownership, we claim that, due to greater risk aversion and lower access to information, the family involvement either in the firm ownership and management leads to a higher propensity towards greenfield initiatives (vs. acquisitions). However, we also find that such a propensity decreases with international experience especially in family-owned firms given the greater ability of professionalized management to overcome family-related concerns on making acquisitions. Our analysis on 1,045 foreign initiatives undertaken by 311 Italian family and non-family firms between 2003 and 2013 confirms our expectations – indicating family ownership as a significant driver of international business choices

Blood-Based Gene Expression Profiles Models for Classification of Subsyndromal Symptomatic Depression and Major Depressive Disorder

Subsyndromal symptomatic depression (SSD) is a subtype of subthreshold depressive and also lead to significant psychosocial functional impairment as same as major depressive disorder (MDD). Several studies have suggested that SSD is a transitory phenomena in the depression spectrum and is thus considered a subtype of depression. However, the pathophysioloy of depression remain largely obscure and studies on SSD are limited. The present study compared the expression profile and made the classification with the leukocytes by using whole-genome cRNA microarrays among drug-free first-episode subjects with SSD, MDD, and matched controls (8 subjects in each group). Support vector machines (SVMs) were utilized for training and testing on candidate signature expression profiles from signature selection step. Firstly, we identified 63 differentially expressed SSD signatures in contrast to control (P< = 5.0E-4) and 30 differentially expressed MDD signatures in contrast to control, respectively. Then, 123 gene signatures were identified with significantly differential expression level between SSD and MDD. Secondly, in order to conduct priority selection for biomarkers for SSD and MDD together, we selected top gene signatures from each group of pair-wise comparison results, and merged the signatures together to generate better profiles used for clearly classify SSD and MDD sets in the same time. In details, we tried different combination of signatures from the three pair-wise compartmental results and finally determined 48 gene expression signatures with 100% accuracy. Our finding suggested that SSD and MDD did not exhibit the same expressed genome signature with peripheral blood leukocyte, and blood cell–derived RNA of these 48 gene models may have significant value for performing diagnostic functions and classifying SSD, MDD, and healthy controls

Near-Edge X-ray Absorption Fine Structure Spectroscopy on Ordered Films of an Amphiphilic Derivate of 2,5-Diphenyl-1,3,4-Oxadiazole

The surfaces of ordered films formed from an amphiphilic derivative of 2,5-diphenyl-1,3,4-oxadiazole by the Langmuir−Blodgett (LB) technique and organic molecular beam deposition (OMBD) were investigated by the use of near-edge X-ray absorption fine structure (NEXAFS) spectroscopy. For the assignment of the spectral features of the C, N, and O K-edge absorption spectra, fingerprint spectra of poly(p-phenylene terephthalamide) (Kevlar), poly(ethylene terephthalate), poly(p-phenylene-1,3,4-oxadiazole), and 2,5-di(pentadecyl)-1,3,4-oxadiazole, which contain related chemical moieties, were recorded. Ab initio molecular orbital calculations, performed with explicit treatment of the core hole, are used to support the spectral interpretations. Angle-resolved NEXAFS spectroscopy at the C, N, and O K-edges suggests a preferentially upright orientation of the oxadiazole derivative in the outermost layer of the films. X-ray specular reflectivity data and molecular modeling results suggest a similar interpretation