Comparative Venture Capital Governance. Private versus Labour Sponsored Venture Capital Funds

Private independent limited partnership venture capital funds receive capital from institutional investors, without tax incentives. Limited partnership investment activities are governed by restrictive covenants that are determined by negotiated contract between the fund managers (general partners) and the institutional investors (limited partners). By contrast, Canadian Labour Sponsored Venture Capital Corporations (LSVCCs) receive capital only from individual investors who receive tax breaks on capital contributions of up to CAN$5,000. LSVCC investment activities are governed by statutory restrictions. This chapter contrasts the governance of LSVCCs to limited partnerships. We also summarize Canadian evidence on the impact of LSVCC governance and tax incentives: (1) on the distribution of venture capital funding between private and LSVCC funds; (2) on the unusually large overhang of uninvested capital in the Canadian venture capital industry; (3) the portfolio size (i.e. number of investee firms per fund) of private funds versus LSVCCs; and (4) the performance of LSVCCs relative to other types of venture capital organiziations and other comparable investments for individual investors.venture capital, Canada, tax, government, crowding out, portfolio size, governance

Latitudinal Shear Instabilities during Type I X-ray Bursts

Coherent oscillations have been observed during Type I X-ray bursts from 14 accreting neutron stars in low mass X-ray binaries, providing important information about their spin frequencies. However, the origin of the brightness asymmetry on the neutron star surface producing these oscillations is still not understood. We study the stability of a zonal shearing flow on the neutron star surface using a shallow water model. We show that differential rotation of >2% between pole and equator, with the equator spinning faster than the poles, is unstable to hydrodynamic shear instabilities. The unstable eigenmodes have properties well-matched to burst oscillations: low azimuthal wavenumber m, wave speeds 1 or 2% below the equatorial spin rate, and e-folding times close to a second. Instability is related to low frequency buoyantly driven r-modes that have a mode frequency within the range of rotation frequencies in the differentially rotating shell. We discuss the implications for burst oscillations. Growth of shear instabilities may explain the brightness asymmetry in the tail of X-ray bursts, although some fine tuning of the level of differential rotation and a spin frequency near 300 Hz are required in order for the fastest growing mode to have m=1. If shear instabilities are to operate during a burst, temperature contrasts of 30% across the star must be created during ignition and spreading of the flash.Comment: To appear in ApJ (12 pages, 11 figures

Boosting clinical performance: The impact of enhanced final year placements.

BACKGROUND: This study follows on from a study that investigated how to develop effective final year medical student assistantship placements, using multidisciplinary clinical teams in planning and delivery. AIMS: This study assessed the effects on objective structured clinical examination (OSCE) performance of the in-course enhanced "super-assistantship" placement introduced to a randomly selected sample of 2013-14 final year medical students at Leeds medical school. METHODS: Quantitative data analysis was used to compare the global grades of OSCE stations between students who undertook this placement against those who did not. RESULTS: There was a small overall improvement in the "super-assistantship" student scores across the whole assessment (effect size = 0.085). "Pre-op Capacity", "Admissions Prescribing" and "Hip Pain" stations had small-medium effect sizes (0.226, 0.215, and 0.214) in favor of the intervention group. Other stations had small effect sizes (0.107-0.191), mostly in favor of the intervention group. CONCLUSIONS: The "super-assistantship" experience characterized by increasing student responsibility on placement can help to improve competence and confidence in clinical decision-making "in a simulated environment". The clinical environment and multidisciplinary team must be ready and supported to provide these opportunities effectively. Further in-course opportunities for increasing final year student responsibility should be developed

Dynamic acoustic field activated cell separation (DAFACS)

Advances in diagnostics, cell and stem cell technologies drive the development of application-specific tools for cell and particle separation. Acoustic micro-particle separation offers a promising avenue for highthroughput, label-free, high recovery, cell and particle separation and isolation in regenerative medicine. Here, we demonstrate a novel approach utilizing a dynamic acoustic field that is capable of separating an arbitrary size range of cells. We first demonstrate the method for the separation of particles with different diameters between 6 and 45 μm and secondly particles of different densities in a heterogeneous medium. The dynamic acoustic field is then used to separate dorsal root ganglion cells. The shearless, label-free and low damage characteristics make this method of manipulation particularly suited for biological applications. Advantages of using a dynamic acoustic field for the separation of cells include its inherent safety and biocompatibility, the possibility to operate over large distances (centimetres), high purity (ratio of particle population, up to 100%), and high efficiency (ratio of separated particles over total number of particles to separate, up to 100%)

Relinquishing Control: What Romanian De Se Attitude Reports Teach Us About Immunity To Error Through Misidentification

Higginbotham argued that certain linguistic items of English, when used in indirect discourse, necessarily trigger first-personal interpretations. They are: the emphatic reflexive pronoun and the controlled understood subject, represented as PRO. PRO is special, in this respect, due to its imposing obligatory control effects between the main clause and its subordinates ). Folescu & Higginbotham, in addition, argued that in Romanian, a language whose grammar doesn’t assign a prominent role to PRO, de se triggers are correlated with the subjunctive mood of certain verbs. That paper, however, didn’t account for the grammatical diversity of the reports that display immunity to error through misidentification in Romanian: some of these reports are expressed by using de se triggers; others are not. Their IEM, moreover, is not systematically lexically controlled by the verbs, via their theta-roles; it is, rather, determined by the meaning of the verbs in question. Given the data from Romanian, I will argue, the phenomenon of IEM cannot be fully explained starting either from the syntactical or the lexical structure of a language

Carbon Flashes in the Heavy Element Ocean on Accreting Neutron Stars

We show that burning of a small mass fraction of carbon in a neutron star ocean is thermally unstable at low accumulated masses when the ocean contains heavy ashes from the hydrogen burning rapid proton (rp) process. The key to early unstable ignition is the low thermal conductivity of a heavy element ocean. The instability requires accretion rates in excess of one-tenth the Eddington limit when the carbon mass fraction is 0.1 or less. The unstable flashes release 10^{42} to 10^{43} ergs over hours to days, and are likely the cause of the recently discovered large Type I X-ray bursts (so-called ``superbursts'') from six Galactic low mass X-ray binaries. In addition to explaining the energetics, recurrence times, and durations of the superbursts, these mixed carbon/heavy element flashes have an accretion rate dependence of unstable burning similar to that observed. Though the instability is present at accretion rates near Eddington, there is less contrast with the accretion luminosity there, explaining why most detections are made at accretion rates between 0.1 and 0.3 Eddington. Future comparisons of time dependent calculations with observations will provide new insights into the rp process.Comment: Submitted to Astrophysical Journal Letters (6 pages, 3 figures

On variation and uncertainty

The overall purpose of the 'Statistical Points and Pitfalls' series is to help readers and researchers alike increase awareness of how to use statistics and why/how we fall into inappropriate choices or interpretations. We hope to help readers understand common misconceptions and give clear guidance on how to avoid common pitfalls by offering simple tips to improve your reporting of quantitative research findings. Each entry discusses a commonly encountered inappropriate practice and alternatives from a pragmatic perspective with minimal mathematics involved. We encourage readers to share comments on or suggestions for this section on Twitter, using the hashtag: #mededstats.</p

Probing the Crust of the Neutron Star in EXO 0748-676

X-ray observations of quiescent X-ray binaries have the potential to provide insight into the structure and the composition of neutron stars. EXO 0748-676 had been actively accreting for over 24 yr before its outburst ceased in late 2008. Subsequent X-ray monitoring revealed a gradual decay of the quiescent thermal emission that can be attributed to cooling of the accretion-heated neutron star crust. In this work, we report on new Chandra and Swift observations that extend the quiescent monitoring to ~5 yr post-outburst. We find that the neutron star temperature remained at ~117 eV between 2009 and 2011, but had decreased to ~110 eV in 2013. This suggests that the crust has not fully cooled yet, which is supported by the lower temperature of ~95 eV that was measured ~4 yr prior to the accretion phase in 1980. Comparing the data to thermal evolution simulations reveals that the apparent lack of cooling between 2009 and 2011 could possibly be a signature of convection driven by phase separation of light and heavy nuclei in the outer layers of the neutron star.Comment: 9 pages, 4 tables, 3 figures. Minor revisions according to referee report. Accepted to Ap