Responding to Regulatory Uncertainty: Evidence from Basel III

This paper examines how firms respond to proposed regulation. Specifically, we utilize the time period over which banking authorities discussed, adopted, and implemented Basel III to examine how banks responded to the proposed regulatory framework. We find that banks were not only quick to lobby rule makers against the proposal, but that they also simultaneously altered their business models and made strategic financial reporting changes in response to it. We also provide evidence that banks were more likely to make these anticipatory changes when they: 1) benefitted more from signaling an early commitment, or 2) had less uncertainty about whether they would be subjected to the regulation. Taken together, our findings indicate that firms’ incentives lead them to simultaneously respond through multiple channels when faced with regulatory uncertainty.http://deepblue.lib.umich.edu/bitstream/2027.42/110908/1/1213_Hendricks_Apr2015.pdfhttp://deepblue.lib.umich.edu/bitstream/2027.42/110908/4/1213_Shakespeare_March2016.pdfhttp://deepblue.lib.umich.edu/bitstream/2027.42/110908/6/1213_Shakespeare_March2016.pdfhttps://deepblue.lib.umich.edu/bitstream/2027.42/110908/7/1213_Hendricks_Nov2016.pdfDescription of 1213_Shakespeare_March2016.pdf : Fixed March 2016 revisionDescription of 1213_Shakespeare_March2016.pdf : March 2016 revisionDescription of 1213_Hendricks_Nov2016.pdf : November 2016 revisio

The Wide Field Spectrograph (WiFeS): Performance and Data Reduction

This paper describes the on-telescope performance of the Wide Field Spectrograph (WiFeS). The design characteristics of this instrument, at the Research School of Astronomy and Astrophysics (RSAA) of the Australian National University (ANU) and mounted on the ANU 2.3m telescope at the Siding Spring Observatory has been already described in an earlier paper (Dopita et al. 2007). Here we describe the throughput, resolution and stability of the instrument, and describe some minor issues which have been encountered. We also give a description of the data reduction pipeline, and show some preliminary results.Comment: Accepted for publication in Astrophysics & Space Science, 15pp, 11 figure

Effect of Re-acidification on Buffalo Grass Rhizosphere and Bulk Microbial Communities During Phytostabilization of Metalliferous Mine Tailings

Phytostabilized highly acidic, pyritic mine tailings are susceptible to re-acidification over time despite initial addition of neutralizing amendments. Studies examining plant-associated microbial dynamics during re-acidification of phytostabilized regions are sparse. To address this, we characterized the rhizosphere and bulk bacterial communities of buffalo grass used in the phytostabilization of metalliferous, pyritic mine tailings undergoing re-acidification at the Iron King Mine and Humboldt Smelter Superfund Site in Dewey-Humboldt, AZ. Plant-associated substrates representing a broad pH range (2.35-7.76) were sampled to (1) compare the microbial diversity and community composition of rhizosphere and bulk compartments across a pH gradient, and (2) characterize how re-acidification affects the abundance and activity of the most abundant plant growth-promoting bacteria (PGPB; including N2-fixing) versus acid-generating bacteria (AGB; including Fe-cycling/S-oxidizing). Results indicated that a shift in microbial diversity and community composition occurred at around pH 4. At higher pH (>4) the species richness and community composition of the rhizosphere and bulk compartments were similar, and PGPB, such as Pseudomonas, Arthrobacter, Devosia, Phyllobacterium, Sinorhizobium, and Hyphomicrobium, were present and active in both compartments with minimal presence of AGB. In comparison, at lower pH (<4) the rhizosphere had a significantly higher number of species than the bulk (p < 0.05) and the compartments had significantly different community composition (unweighted UniFrac; PERMANOVA, p < 0.05). Whereas some PGPB persisted in the rhizosphere at lower pH, including Arthrobacter and Devosia, they were absent from the bulk. Meanwhile, AGB dominated in both compartments; the most abundant were the Fe-oxidizer Leptospirillum and Fe-reducers Acidibacter and Acidiphilium, and the most active was the Fe-reducer Aciditerrimonas. This predominance of AGB at lower pH, and even their minimal presence at higher pH, contributes to acidifying conditions and poses a significant threat to sustainable plant establishment. These findings have implications for phytostabilization field site management and suggest re-application of compost or an alternate buffering material may be required in regions susceptible to re-acidification to maintain a beneficial bacterial community conducive to long-term plant establishment.National Institute of Environmental and Health Sciences (NIEHS) Superfund Research Program (SRP) [P42 ES004940]; National Science Foundation Graduate Research Fellowhip Program (NSF GRFP) [DGE-1143953]Open access journalThis item from the UA Faculty Publications collection is made available by the University of Arizona with support from the University of Arizona Libraries. If you have questions, please contact us at [email protected]

Interventions for drug-using offenders with co-occurring mental illness: : A systematic review and economic appraisal

Background: Drug-using offenders with co-occurring mental health problems are common in the criminal justice system. A combination of drug use and mental health problems makes people more likely to be arrested for criminal involvement after release compared to offenders without a mental health problem. Previous research has evaluated interventions aimed broadly at those with a drug problem but rarely with drug use and mental health problems. This systematic review considers the effectiveness of interventions for drug-using offenders with co-occurring mental health problems. Methods: We searched 14 electronic bibliographic databases up to May 2014 and five Internet resources. The review included randomised controlled trials designed to reduce, eliminate, or prevent relapse of drug use and/or criminal activity. Data were reported on drug and crime outcomes, the identification of mental health problems, diagnoses and resource information using the Drummond checklist. The systematic review used standard methodological procedures as prescribed by the Cochrane collaboration. Results: Eight trials with 2058 participants met the inclusion criteria. These evaluated: case management (RR, 1.05, 95 % CI 0.90 to 1.22, 235 participants), motivational interviewing and cognitive skills, (MD-7.42, 95 % CI-0.20.12 to 5.28, 162 participants) and interpersonal psychotherapy (RR 0.67, 95 % CI 0.3 to 1.5, 38 participants). None of these trials reported significant reductions in self-report drug misuse or crime. Four trials evaluating differing therapeutic community models showed reductions in re-incarceration (RR 0.28, 95 % CI 0.13 to 0.63, 139 participants) but not re-arrest (RR 1.65, 95 % CI 0.83 to 3.28, 370 participants) or self-report drug use (RR 0.73, 95 % CI 0.53 to 1.01, 370 participants). Mental health problems were identified across the eight trials and 17 different diagnoses were described. Two trials reported some resource information suggesting a cost-beneficial saving when comparing therapeutic communities to a prison alternative. Conclusions: Overall, the studies showed a high degree of variation, warranting a degree of caution in the interpretation of the magnitude of effect and direction of benefit for treatment outcomes. Specifically, tailored interventions are required to assess the effectiveness of interventions for drug-using offenders with co-occurring mental health problems

GPs’ role in caring for children and young people with life-limiting conditions: a retrospective cohort study

Background: GPs are rarely actively involved in healthcare provision for children and young people (CYP) with life-limiting conditions (LLCs). This raises problems when these children develop minor illness or require management of other chronic diseases. Aim: To investigate the association between GP attendance patterns and hospital urgent and emergency care use. Design and setting: Retrospective cohort study using a primary care data source (Clinical Practice Research Datalink) in England. The cohort numbered 19 888. Method: CYP aged 0–25 years with an LLC were identified using Read codes (primary care) or International Classification of Diseases 10 th Revision (ICD-10) codes (secondary care). Emergency inpatient admissions and accident and emergency (A&E) attendances were separately analysed using multivariable, two-level random intercept negative binomial models with key variables of consistency and regularity of GP attendances. Results: Face-to-face GP surgery consultations reduced, from a mean of 7.12 per person year in 2000 to 4.43 in 2015. Those consulting the GP less regularly had 15% (95% confidence interval [CI] = 10% to 20%) more emergency admissions and 5% more A&E visits (95% CI = 1% to 10%) than those with more regular consultations. CYP who had greater consistency of GP seen had 10% (95% CI = 6% to 14%) fewer A&E attendances but no significant difference in emergency inpatient admissions than those with lower consistency. Conclusion: There is an association between GP attendance patterns and use of urgent secondary care for CYP with LLCs, with less regular GP attendance associated with higher urgent secondary healthcare use. This is an important area for further investigation and warrants the attention of policymakers and GPs, as the number of CYP with LLCs living in the community rises

Editorial: Women and leadership in higher education learning and teaching

In this Special Issue Harvey and Jones state “It is time for women academics to accept the challenge – to rightfully claim their leadership”. We recognise the many women who have challenged the system, and those whose efforts have been thwarted. We encourage women and men to work together to break down the barriers of gender, race, culture, and religion, so that our current and next generation of female academics can rightfully claim their leadership. This Special Issue is an important step to bringing to light these challenges for women and the changes required to grow and support women in leadership in higher education teaching and learning

Highly regioselective iodination of arenes via iron(III)-catalyzed activation of N-iodosuccinimide

An iron(III)-catalyzed method for the rapid and highly regioselective iodination of arenes has been developed. Use of the powerful Lewis acid, iron(III) triflimide, generated in situ from iron(III) chloride and a readily available triflimide-based ionic liquid allowed activation of N-iodosuccinimide (NIS) and efficient iodination under mild conditions of a wide range of substrates including biologically active compounds and molecular imaging agents

Pollen season trends as markers of climate change impact:Betula, Quercus and Poaceae

The incidences of respiratory allergies are at an all-time high. Pollen aeroallergens can reflect changing climate, with recent studies in Europe showing some, but not all, pollen types are increasing in severity, season duration and experiencing an earlier onset. This study aimed to identify pollen trends in the UK over the last twenty-six years for a range of pollen sites, with a focus on the key pollen types of Poaceae (grass), Betula (birch) and Quercus (oak) and to examine the relationship of these trends with meteorological factors. Betula pollen seasons show no significant trends for onset, first high day or duration but increasing pollen production in the Midlands region of the UK is being driven by warmer temperatures in the previous June and July. Quercus pollen seasons are starting earlier, due to increasing temperature and sunshine totals in April, but are not becoming more severe. The seasons are lasting longer, although no significant climate drivers for this were identified. The first high day of the Poaceae pollen season is occurring earlier in central UK regions due to an increasing trend for all temperature variables in the previous December, January, April, May and June. Severity and duration of the season show no significant trends and are spatially and temporally variable. Important changes are occurring in the UK pollen seasons that will impact on the health of respiratory allergy sufferers, with more severe Betula pollen seasons and longer Quercus pollen seasons. Most of the changes identified were caused by climate drivers of increasing temperature and sunshine total. However, Poaceae pollen seasons are neither becoming more severe nor longer. The reasons for this included a lack of change in some monthly meteorological variables, or land-use change, such as grassland being replaced by urban areas or woodland

Herbivore biocontrol and manual removal successfully reduce invasive macroalgae on coral reefs

Invasive macroalgae pose a serious threat to coral reef biodiversity by monopolizing reef habitats, competing with native species, and directly overgrowing, and smothering reef corals. Several invasive macroalgae (Eucheuma clade E, Kappaphycus clade A and B, Gracilaria salicornia, and Acanthophora spicifera) are established within Kāne‘ohe Bay (O‘ahu, Hawai‘i, USA), and reducing invasive macroalgae cover is a coral reef conservation and management priority. Invasive macroalgae control techniques, however, are limited and few successful large-scale applications exist. Therefore, a two-tiered invasive macroalgae control approach was designed, where first, divers manually remove invasive macroalgae (Eucheuma and Kappaphycus) aided by an underwater vacuum system (“The Super Sucker”). Second, hatchery-raised juvenile sea urchins (Tripneustes gratilla), were outplanted to graze and control invasive macroalgae regrowth. To test the effectiveness of this approach in a natural reef ecosystem, four discrete patch reefs with high invasive macroalgae cover (15–26%) were selected, and macroalgae removal plus urchin biocontrol (treatment reefs, n = 2), or no treatment (control reefs, n = 2), was applied at the patch reef-scale. In applying the invasive macroalgae treatment, the control effort manually removed ∼19,000 kg of invasive macroalgae and ∼99,000 juvenile sea urchins were outplanted across to two patch reefs, totaling ∼24,000 m2 of reef area. Changes in benthic cover were monitored over 2 years (five sampling periods) before-and-after the treatment was applied. Over the study period, removal and biocontrol reduced invasive macroalgae cover by 85% at treatment reefs. Our results show manual removal in combination with hatchery raised urchin biocontrol to be an effective management approach in controlling invasive macroalgae at reef-wide spatial scales and temporal scales of months to years

Are Non-Pharmacological Interventions Effective in Reducing Drug Use and Criminality? : A Systematic and Meta-Analytical Review with an Economic Appraisal of These Interventions

Background: The numbers of incarcerated people suffering from drug dependence has steadily risen since the 1980s and only a small proportion of these receive appropriate treatment. A systematic review to evaluate the effectiveness and economic evidence of non-pharmacological interventions for drug using offenders was conducted. Methods: Cochrane Collaboration criteria were used to identify trials across 14 databases between 2004 and 2014. A series of meta-analyses and an economic appraisal were conducted. Results: 43 trials were identified showing to have limited effect in reducing re-arrests RR 0.97 (95% CI 0.89-1.07) and drug use RR 0.90 (95% CI 0.80-1.00) but were found to significantly reduce re-incarceration RR 0.70 (95% CI 0.57-0.85). Therapeutic community programs were found to significantly reduce the number of re-arrests RR 0.70 (95% CI 0.56-0.87). 10 papers contained economic information. One paper presented a cost-benefit analysis and two reported on the cost and cost effectiveness of the intervention. Conclusions: We suggest that therapeutic community interventions have some benefit in reducing subsequent re-arrest. We recommend that economic evaluations should form part of standard trial protocols