Impact Of Changes In Strategic Investments On Shareholder Returns: The Role Of Growth Opportunities

We argue that a firm’s growth opportunity may provide us with guidelines on whether increases or decreases in capital investments may contribute to that firm’s returns to shareholders.  We find consistent empirical support for “good” managerial decisions.  That is, we find that increases in capital investments by firms with growth opportunities enhance their returns to shareholders.  The results indicate that decreases in strategic investments increase the returns to shareholders of those firms lacking in growth opportunities.  The findings, however, are not consonantally significant for “bad” managerial investment decisions - - decreases in investments by firms with growth opportunities or increases in investments by firms lacking in growth opportunities

How should corporations apologise? A new Polis research report

In 2014, Polis and StockWell Communcations launched a research prize open to LSE post-graduate students. Applicants were asked to submit original research proposals on the topic of ‘Corporate Reputation, Media and Society’

Inhibition of Release of Vasoactive and Inflammatory Mediators in Airway and Vascular Tissues and Macrophages By a Chinese Herbal Medicine Formula for Allergic Rhinitis

Herbal therapies are being used increasingly for the treatment of allergic rhinitis. The aim of this study was to investigate the possible pharmacological actions and cellular targets of a Chinese herbal formula (RCM-101), which was previously shown to be effective in reducing seasonal allergic rhinitis symptoms in a randomized, placebo-controlled clinical trial. Rat and guinea pig isolated tissues (trachea and aorta) were used to study the effects of RCM-101 on responses to various mediators. Production of leukotriene B4 in porcine neutrophils and of prostaglandin E2 and nitric oxide (NO) in Raw 264.7 cells were also measured. In rat and guinea pig tracheal preparations, RCM-101 inhibited contractile responses to compound 48/80 but not those to histamine (guinea pig preparations) or serotonin (rat preparations). Contractile responses of guinea pig tracheal preparations to carbachol and leukotriene C4, and relaxant responses to substance P and prostaglandin E2 were not affected by RCM-101. In rat aortic preparations, precontracted with phenylephrine, endothelium-dependent relaxant responses to acetylcholine and endothelium-independent relaxant responses to sodium nitroprusside were not affected by RCM-101. However, RCM-101 inhibited relaxations to l-arginine in endothelium-denuded rat aortic preparations, which had been pre-incubated with lipopolysaccharide. RCM-101 did not affect leukotriene B4 formation in isolated porcine neutrophils, induced by the calcium ionophore A23187; however, it inhibited prostaglandin E2 and NO production in lipopolysaccharide-stimulated murine macrophages (Raw 264.7 cells).The findings indicate that RCM-101 may have multiple inhibitory actions on the release and/or synthesis of inflammatory mediators involved in allergic rhinitis

Mesh Network for RFID and Electric Vehicle Monitoring in Smart Charging Infrastructure

With an increased number of plug-in electric vehicles (PEVs) on the roads, PEV charging infrastructure is gaining an ever-more important role in simultaneously meeting the needs of drivers and those of the local distribution grid. However, the current approach to charging is not well suited to scaling with the PEV market. If PEV adoption continues, charging infrastructure will have to overcome its current shortcomings such as unresponsiveness to grid constraints, low degree of autonomy, and high cost, in order to provide a seamless and configurable interface from the vehicle to the power grid. Among the tasks a charging station will have to accomplish will be PEV identification, charging authorization, dynamic monitoring, and charge control. These will have to be done with a minimum of involvement at a maximum of convenience for a user. The system proposed in this work allows charging stations to become more responsive to grid constraints and gain a degree of networked autonomy by automatically identifying and authorizing vehicles, along with monitoring and controlling all charging activities via an RFID mesh network consisting of charging stations and in-vehicle devices. The proposed system uses a ZigBee mesh network of in-vehicle monitoring devices which simultaneously serve as active RFID tags and remote sensors. The system outlined lays the groundwork for intelligent charge-scheduling by providing access to vehicle’s State of Charge (SOC) data as well as vehicle/driver IDs, allowing a custom charging schedule to be generated for a particular driver and PEV. The approach presented would allow PEV charging to be conducted effectively while observing grid constraints and meeting the needs of PEV drivers

The heat shock response and humoral immune response are mutually antagonistic in honey bees

The honey bee is of paramount importance to humans in both agricultural and ecological settings. Honey bee colonies have suffered from increased attrition in recent years, stemming from complex interacting stresses. Defining common cellular stress responses elicited by these stressors represents a key step in understanding potential synergies. The proteostasis network is a highly conserved network of cellular stress responses involved in maintaining the homeostasis of protein production and function. Here, we have characterized the Heat Shock Response (HSR), one branch of this network, and found that its core components are conserved. In addition, exposing bees to elevated temperatures normally encountered by honey bees during typical activities results in robust HSR induction with increased expression of specific heat shock proteins that was variable across tissues. Surprisingly, we found that heat shock represses multiple immune genes in the abdomen and additionally showed that wounding the cuticle of the abdomen results in decreased expression of multiple HSR genes in proximal and distal tissues. This mutually antagonistic relationship between the HSR and immune activation is unique among invertebrates studied to date and may promote understanding of potential synergistic effects of disparate stresses in this critical pollinator and social insects more broadly

Video-Game Play Induces Plasticity in the Visual System of Adults with Amblyopia

A pilot study suggests that playing video games may enhance a range of spatial vision functions in adults with amblyopia

Galaxy evolution in groups and clusters: star formation rates, red sequence fractions, and the persistent bimodality

Using galaxy group/cluster catalogs created from the Sloan Digital Sky Survey Data Release 7, we examine in detail the specific star formation rate (SSFR) distribution of satellite galaxies and its dependence on stellar mass, host halo mass, and halo-centric radius. All galaxies, regardless of central-satellite designation, exhibit a similar bimodal SSFR distribution, with a strong break at SSFR ~ 10^-11 yr^-1 and the same high SSFR peak; in no regime is there ever an excess of galaxies in the `green valley'. Satellite galaxies are simply more likely to lie on the quenched (`red sequence') side of the SSFR distribution. Furthermore, the satellite quenched fraction excess above the field galaxy value is nearly independent of galaxy stellar mass. An enhanced quenched fraction for satellites persists in groups with halo masses down to 3 x 10^11 Msol and increases strongly with halo mass and toward halo center. We find no detectable quenching enhancement for galaxies beyond ~2R_vir around massive clusters once these galaxies have been decomposed into centrals and satellites. These trends imply that (1) galaxies experience no significant environmental effects until they cross within ~R_vir of a more massive host halo, (2) after this, star formation in active satellites continues to evolve in the same manner as active central galaxies for several Gyrs, and (3) once begun, satellite star formation quenching occurs rapidly. These results place strong constraints on satellite-specific quenching mechanisms, as we will discuss further in companion papers.Comment: 13 pages, 6 figures. Accepted for publication in MNRAS, updated to match published versio

Progress in upscaling Miscanthus biomass production for the European bio-economy with seed-based hybrids

Funded by UK's Biotechnology and Biological Sciences Research Council (BBSRC) Department for Environment, Food and Rural Affairs (DEFRA). Grant Number: LK0863 BBSRC strategic programme Grant on Energy Grasses & Bio-refining. Grant Number: BBS/E/W/10963A01 OPTIMISC. Grant Number: FP7-289159 WATBIO. Grant Number: FP7-311929 Innovate UK/BBSRC ‘MUST’. Grant Number: BB/N016149/1Peer reviewedPublisher PD