CEO pay, shareholder returns, and accounting profits

We assess the impact on CEO pay (including salary, cash bonus, and benefits in kind) of changes in both accounting and shareholder returns in 99 British companies in the years 1972-89. After correcting for heterogeneity biases inherent in the standard specifications of the problem, we find a strong positive relationship between CEO pay and within-company changes in shareholder returns, and no statistically significant relationship between CEO pay and within-company changes in accounting returns. Differences between firms in long-term average profitability do appear to have a substantial effect on CEO pay, while differences between firms in shareholder returns add nothing to the within-firm pay dynamics.These findings call into question the rationale for explicitly share-based incentive schemes

Deterministic dual control of phase competition in strained BiFeO3 : a multiparametric structural lithography approach

UK Research and Innovation, MR/T043172/1, Raymond G. P. McQuaid; Department for Employment and Learning, Northern Ireland, USI-082, Amit Kumar; Engineering and Physical Sciences Research Council, EP/S037179/1, Amit Kumar; EP/L015323/01, Nathan Black.The realization of a mixed-phase microstructure in strained BiFeO3 (BFO) thin films has led to numerous novel effects derived from the coexistence of the tetragonal-like monoclinic phase (T phase) and rhombohedral-like monoclinic phase (R phase). Strong strain and polarization differences between the phases should result in a high level of transformation plasticity, which enables the continuous alteration of the relative proportion of R and T states in response to external forces. Although the potential for utilizing such plasticity to control mixed-phase populations under external stimuli is evident, direct experimental evidence backed by equilibrium predictions has not yet been fully demonstrated. Here we demonstrate deterministic control of mixed-phase populations in an epitaxially strained BFO thin film through the application of localized stresses and electric fields in a reversible manner. The results illustrate and rationalize deterministic control of mixed phases in strained BFO films, which could be crucial in tuning their functional properties. The findings also highlight a new multiparametric technique in the scanning probe lithography toolbox based on tip-assisted electric and strain field manipulation of functional properties that might find application beyond the ferroelectric domain and structural phase lithography.Publisher PDFPeer reviewe

Evaluation of the bioavailability and intestinal effects of milk fermented by folate producing lactic acid bacteria in a depletion/repletion mice model

This study aimed to evaluate the bioavailability and effects on the intestinal mucosa of a bioenriched fermented milk (BFM) prepared with folate-producing lactic acid bacteria, using a depletion/repletion BALB/c mice model. Five Streptococcus thermophilus strains were combined with Lactobacillus plantarum 16cv and the combination that resulted in the best folate production was used for preparation of BFM. The folate content in BFM, prepared under controlled conditions (pH 6.0, 42 °C, 70 rpm, 24 h), was 321.1 ± 14.1 ng/mL. Results for mice fed with BFM were compared to those fed with other diets. The BFM group presented an increase in hemoglobin, hematocrit and red blood cells, and the villi height/crypt depth ratio was similar to that of animals receiving milk supplemented with commercial folic acid. The strains were sensitive to most tested antibiotics and lacked virulence genes, indicating that consumption of BFM may be a promising alternative to increase intake of folate.Fil: Cucick, Ana Clara C.. Universidade de Sao Paulo; BrasilFil: Gianni de Carvalho, Katia. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Tucumán. Planta Piloto de Procesos Industriales Microbiológicos; ArgentinaFil: Todorov, Svetoslav D.. Universidade de Sao Paulo; BrasilFil: de Moreno, Maria Alejandra. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Tucumán. Centro de Referencia para Lactobacilos; ArgentinaFil: Leblanc, Jean Guy Joseph. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Tucumán. Centro de Referencia para Lactobacilos; ArgentinaFil: Franco, Bernadette D. G. M.. Universidade de Sao Paulo; Brasi

Designing assisted living technologies 'in the wild' : preliminary experiences with cultural probe methodology

Background There is growing interest in assisted living technologies to support independence at home. Such technologies should ideally be designed ‘in the wild’ i.e. taking account of how real people live in real homes and communities. The ATHENE (Assistive Technologies for Healthy Living in Elders: Needs Assessment by Ethnography) project seeks to illuminate the living needs of older people and facilitate the co-production with older people of technologies and services. This paper describes the development of a cultural probe tool produced as part of the ATHENE project and how it was used to support home visit interviews with elders with a range of ethnic and social backgrounds, family circumstances, health conditions and assisted living needs. Method Thirty one people aged 60 to 98 were visited in their homes on three occasions. Following an initial interview, participants were given a set of cultural probe materials, including a digital camera and the ‘Home and Life Scrapbook’ to complete in their own time for one week. Activities within the Home and Life Scrapbook included maps (indicating their relationships to people, places and objects), lists (e.g. likes, dislikes, things they were concerned about, things they were comfortable with), wishes (things they wanted to change or improve), body outline (indicating symptoms or impairments), home plan (room layouts of their homes to indicate spaces and objects used) and a diary. After one week, the researcher and participant reviewed any digital photos taken and the content of the Home and Life Scrapbook as part of the home visit interview. Findings The cultural probe facilitated collection of visual, narrative and material data by older people, and appeared to generate high levels of engagement from some participants. However, others used the probe minimally or not at all for various reasons including limited literacy, physical problems (e.g. holding a pen), lack of time or energy, limited emotional or psychological resources, life events, and acute illness. Discussions between researchers and participants about the materials collected (and sometimes about what had prevented them completing the tasks) helped elicit further information relevant to assisted living technology design. The probe materials were particularly helpful when having conversations with non-English speaking participants through an interpreter. Conclusions Cultural probe methods can help build a rich picture of the lives and experiences of older people to facilitate the co-production of assisted living technologies. But their application may be constrained by the participant’s physical, mental and emotional capacity. They are most effective when used as a tool to facilitate communication and development of a deeper understanding of older people’s needs

Contortamide, a new anti-colon cancer cerebroside and other constituents from Tabernaemontana contorta Stapf (Apocynaceae)

A new cerebroside, Contortamide (1) together with nine known compounds spegatrine (2), affinisine (3), Nb-methylaffinisine (4), ursolic acid (5), α-amyrin (6), bauerenol acetate (7), lupeol (8), betulinic acid (9) and β-sitosterolglycoside (10) were isolated from the trunk bark of Tabernaemontana contorta Stapf. The new compound 1 showed significant activity against Caco-2 colon cancer cells with the MTT method. Compounds 1–4 and 6–9 were isolated for the first time from this species

MSLICE Science Activity Planner for the Mars Science Laboratory Mission

MSLICE (Mars Science Laboratory InterfaCE) is the tool used by scientists and engineers on the Mars Science Laboratory rover mission to visualize the data returned by the rover and collaboratively plan its activities. It enables users to efficiently and effectively search all mission data to find applicable products (e.g., images, targets, activity plans, sequences, etc.), view and plan the traverse of the rover in HiRISE (High Resolution Imaging Science Experiment) images, visualize data acquired by the rover, and develop, model, and validate the activities the rover will perform. MSLICE enables users to securely contribute to the mission s activity planning process from their home institutions using off-the-shelf laptop computers. This software has made use of several plug-ins (software components) developed for previous missions [e.g., Mars Exploration Rover (MER), Phoenix Mars Lander (PHX)] and other technology tasks. It has a simple, intuitive, and powerful search capability. For any given mission, there is a huge amount of data and associated metadata that is generated. To help users sort through this information, MSLICE s search interface is provided in a similar fashion as major Internet search engines. With regard to the HiRISE visualization of the rover s traverse, this view is a map of the mission that allows scientists to easily gauge where the rover has been and where it is likely to go. The map also provides the ability to correct or adjust the known position of the rover through the overlaying of images acquired from the rover on top of the HiRISE image. A user can then correct the rover s position by collocating the visible features in the overlays with the same features in the underlying HiRISE image. MSLICE users can also rapidly search all mission data for images that contain a point specified by the user in another image or panoramic mosaic. MSLICE allows the creation of targets, which provides a way for scientists to collaboratively name features on the surface of Mars. These targets can also be used to convey instrument-pointing information to the activity plan. The software allows users to develop a plan of what they would like the rover to accomplish for a given time period. When developing the plan, the user can input constraints between activities or groups of activities. MSLICE will enforce said constraints and ensure that all mission flight rules are satisfied

Exploring the genetics of irritable bowel syndrome: A GWA study in the general population and replication in multinational case-control cohorts

OBJECTIVE: IBS shows genetic predisposition, but adequately powered gene-hunting efforts have been scarce so far. We sought to identify true IBS genetic risk factors by means of genome-wide association (GWA) and independent replication studies. DESIGN: We conducted a GWA study (GWAS) of IBS in a general population sample of 11\u2005326 Swedish twins. IBS cases (N=534) and asymptomatic controls (N=4932) were identified based on questionnaire data. Suggestive association signals were followed-up in 3511 individuals from six case-control cohorts. We sought genotype-gene expression correlations through single nucleotide polymorphism (SNP)-expression quantitative trait loci interactions testing, and performed in silico prediction of gene function. We compared candidate gene expression by real-time qPCR in rectal mucosal biopsies of patients with IBS and controls. RESULTS: One locus at 7p22.1, which includes the genes KDELR2 (KDEL endoplasmic reticulum protein retention receptor 2) and GRID2IP (glutamate receptor, ionotropic, delta 2 (Grid2) interacting protein), showed consistent IBS risk effects in the index GWAS and all replication cohorts and reached p=9.31 710(-6) in a meta-analysis of all datasets. Several SNPs in this region are associated with cis effects on KDELR2 expression, and a trend for increased mucosal KDLER2 mRNA expression was observed in IBS cases compared with controls. CONCLUSIONS: Our results demonstrate that general population-based studies combined with analyses of patient cohorts provide good opportunities for gene discovery in IBS. The 7p22.1 and other risk signals detected in this study constitute a good starting platform for hypothesis testing in future functional investigations. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions