Dividend policy in the banking sector in G-7 and GCC countries: A comparative study

YesDividend policy has been a puzzling question for many years. This study attempts to identify the key factors affecting it in the financial sector that have been neglected in the literature. Using panel data on 621 Group of Seven (G-7) banks and 68 Gulf Cooperation Council (GCC) banks, five main factors namely, banks’ size, profitability, growth, leverage, and last year’s dividend were empirically tested regarding their impact on dividend payout ratios. In addition to comparing the two economies descriptively, the researchers employed panel data analysis using multiple regression with random effects. The findings revealed that the dividend payout ratio for the GCC countries is higher than G-7 countries in every year of the examined period (2010-2015). Furthermore, for both G-7 and GCC banks, profitability and last year dividend had a significant positive influence while banks’ leverage had a significant negative influence on the dividend payout. It was found also that banks’ size is an important dividend determinant in the G-7 countries only

The Influence of National Culture on Consumer Buying Behaviour: An Exploratory Study of Nigerian and British Consumers

Despite the considerable body of literature investigating the influence of National Culture (NC) dimensions on consumer behaviour, there is a lack of studies comparing the influence of NC in Africa with Western European countries. This study is intended to fill the vacuum in knowledge by exploring how NC affects consumer buyer behavior in Nigeria and the United Kingdom. The primary data were collected through in depth, semi-structured interviews conducted with three groups of individuals: British students, Nigerian students in the United Kingdom, and Nigerian-based students. This approach and new frontier to analyze culture and consumer behaviour could help understand residual cultural threads of people (that are ingrained in their being) irrespective of exposure to other cultures. The findings of this study show that Nigerian and British consumers differ remarkably in cultural orientations such as symbols, values and psychological standpoints. This ultimately affects the choices made at every stage of the decision building process, and proves beneficial for international retail marketing

The Influence of Institutional and Conductive Aspects on Entrepreneurial Innovation: Evidence from GEM Data

YesPurpose – The main purpose of this study is to improve the understanding of how different aspects of the national institutional environment may influence the level of innovative entrepreneurial activity across countries. Several institutional and conductive factors affecting a country’s capacity to support innovative entrepreneurship is explored. Design/methodology/approach – Institutional theory is used to examine the national regulatory, normative, cognitive, and conducive aspects that measure a country's ability to support innovative entrepreneurship. A cross-national institutional profile is constructed to validate an entrepreneurial innovation model. The impact of country-level national institutions on innovative entrepreneurial activity as measured by Global Entrepreneurship Monitor (GEM) data is assessed through structural equation modeling (SEM). Findings – Knowledge about the influence of specific institutional aspects on innovative entrepreneurship, and hence of institutional structures within and across countries, is enhanced. For new innovative enterprises, conductive and regulatory aspects seem to matter most. All conductive factors have a significant and positive impact on entrepreneurial activity rates. Research limitations/implications – Results could support policy makers and practitioners in evaluating government policies’ effect on innovative entrepreneurship. Interventions should target both individual attributes and context. Future research could include longitudinal designs to measure the direction of causality. Practical implications – Aspects such as regulatory institutions, and conductive factors such as ICT use and technology adoption, are important for innovation entrepreneurship development.The full text will be made available when the article is officially published

The influence of individual readiness for change dimensions on quality management implementation in Algerian manufacturing organisations

YesA comprehensive literature review reveals a lack of empirical studies investigating the influence of individual readiness of change (IRFC) as a multidimensional construct on effective quality improvement programmes (often referred as TQM) implementation. Much of the normative literature is conceptual in nature. Moreover, there is very limited research investigating the mediating role of employee affective commitment to change (IACC) between IRFCs and TQM. Therefore, this study proposes to fill this gap by providing empirical evidence leading to advancement in the understanding of direct and indirect influences of IRFC components on TQM implementation. To achieve this, a questionnaire-based survey was developed and self-administered to 226 middle managers in Algerian manufacturing organisations (AMOs) with a good rate of return of 52%. The analysis of the collected data revealed that two of the IRFC components, namely personally beneficial and change self-efficacy are the most supportive IRFC dimensions for TQM implementation. Furthermore, the results of this study show support for the mediating role of IACC in the relationship between IRFCs and TQM implementation. Therefore, this paper makes a novel contribution by providing a refined and deeper comprehension of the relationships between IRFCs and TQM implementation

Deletion of low molecular weight protein tyrosine phosphatase (Acp1) protects against stress-induced cardiomyopathy.

The low molecular weight protein tyrosine phosphatase (LMPTP), encoded by the ACP1 gene, is a ubiquitously expressed phosphatase whose in vivo function in the heart and in cardiac diseases remains unknown. To investigate the in vivo role of LMPTP in cardiac function, we generated mice with genetic inactivation of the Acp1 locus and studied their response to long-term pressure overload. Acp1(-/-) mice develop normally and ageing mice do not show pathology in major tissues under basal conditions. However, Acp1(-/-) mice are strikingly resistant to pressure overload hypertrophy and heart failure. Lmptp expression is high in the embryonic mouse heart, decreased in the postnatal stage, and increased in the adult mouse failing heart. We also show that LMPTP expression increases in end-stage heart failure in humans. Consistent with their protected phenotype, Acp1(-/-) mice subjected to pressure overload hypertrophy have attenuated fibrosis and decreased expression of fibrotic genes. Transcriptional profiling and analysis of molecular signalling show that the resistance of Acp1(-/-) mice to pathological cardiac stress correlates with marginal re-expression of fetal cardiac genes, increased insulin receptor beta phosphorylation, as well as PKA and ephrin receptor expression, and inactivation of the CaMKIIδ pathway. Our data show that ablation of Lmptp inhibits pathological cardiac remodelling and suggest that inhibition of LMPTP may be of therapeutic relevance for the treatment of human heart failure

Security Challenges and Air Quality Management in india: Emissions Inventory and Forecasting Estimates

The defense and peace literature have focused mainly on the military-growth nexus, with little attention paid to the environmental sustainability agenda, which is impacted by increased global arms transfers. The supply of lead-containing ammunition generates complex gas mixtures (including CO2 emissions) and particulates that harm the healthcare sustainability agenda. Based on the significance of the subject matter, the study uses the Indian economy as a case study, with a significant rate of arms transfers associated with higher carbon emissions. The study analyzed data from more than four decades, from 1975 to 2020. Data on arms imports, military personnel, and military expenditures are used to evaluate the ‘ammunition emissions function’. It corresponds to the three research hypotheses, namely, the ‘emissions-defense burden hypothesis’ (arms transfers increase carbon emissions), the ‘emissions-cleaner hypothesis’ (arms transfers reduce carbon emissions), and the ‘emissions-asymmetric hypothesis’ (positive and negative shocks of arms transfers either support the ‘defense burden hypothesis’ or ‘cleaner hypothesis’). The non-linear autoregressive distributed lag (NARDL) results confirmed the ’emissions-defense burden hypothesis‘ in the long run, as positive and negative shocks from arms imports increase carbon emissions. However, in the short run, positive arms imports increase carbon emissions while negative arms imports decrease carbon emissions. Furthermore, the findings supported the ’emissions-cleaner hypothesis‘ in the relationship between armed forces personnel and carbon emissions. The findings imply that the positive and negative shocks experienced by armed forces personnel reduce carbon emissions in the short and long run. Positive shocks to military spending support the ’emissions-defense burden hypothesis‘ in the short run; however, the results vanished when negative shocks to military spending supported the ’emissions-spillover hypothesis‘ (lowering military spending reduces carbon emissions and increases economic productivity) in the short and long run. The country’s unsustainable economic activities are viewed as a negative factor contributing to long-term carbon emissions increases. The negative shocks of armed forces personnel and positive arms imports would almost certainly have a significant long-term impact on carbon emissions. As a result, the ‘treadmill theory of destruction’ has been confirmed in a country. The study concludes that lead-free ammunition and managing ammunition safety are beneficial to a country’s environmental sustainability agenda. © 2021 by the authors. Licensee MDPI, Basel, Switzerland.Researchers Supporting Project number (RSP-2021/87), King Saud University, Riyadh, Saudi Arabia

Effects of parity order and reproductive management on the efficiency of rabbit productive systems.

The aim of this work was to study the effect of parity order and reproductive management systems on rabbit production performance. A total of 73 rabbit does (I group) were submitted to a 35-day intensive rhythm [artificial insemination (AI) on day 4 post-partum (pp) and weaning at 25 days of lactation], and 108 rabbit does (SI group) were submitted to a 42-day semi-intensive rhythm (AI on day 11 pp and weaning at 35 days of lactation) during 9 months. Primiparous does had the lowest live body weight at parturition (P < 0.0001) and at 21 days of lactation (P < 0.0001). They also had lower milk production (P < 0.0001) than does with later parities. I group animals needed a higher number of AI than SI group to become pregnant (1.70 ± 0.03 vs. 1.39 ± 0.03; P < 0.0001: especially after the third). Prolificacy was not affected by the management system. Parturition interval (PI) was longer than expected in both groups [56.0 ± 1.4 and 50.9 ± 1.38 days in I and SI groups, respectively (P < 0.05)]. Mean productivity, estimated as number of weaned rabbits per female and year, was 12 kits higher in rabbit does of the SI group (P < 0.05). From the third parturition onward, an increase in live body weight of kits at different ages was observed. At 21 (P < 0.05) and 25 days of age (P < 0.01), kits from the I group rabbit does weighed more than those from the SI group; however, the latter showed a higher weight at 35 (P < 0.05) and 60 days of age (P < 0.05). Rabbit does with two or three parturitions had higher litter size at 21 and 25 days of age (P < 0.0001 and P < 0.001, respectively). Kit mortality between 21 and 25 days of age and between 35 and 60 days of age was not affected by treatments but was higher in the I group between 25 and 35 days (18.2 vs. 5.03% in the I and SI groups, respectively; P < 0.0001) and as age of does increased (P < 0.05). In light of these results, we could conclude that long term doe reproductive performance is negatively affected and litter viability decreased when using intensive compared to a semi-intensive reproductive management

National culture and tourist destination choice in the UK and Venezuela: an exploratory and preliminary study

National culture determines consumer attitudes and behaviour. While this holds true for tourism consumption, little research has sought to better understand the effect of culture on tourist destination choice. The geographical scope of analysis has also been restricted. This study employs the Hofstede’s cultural dimensions framework to conduct an exploratory, qualitative evaluation of the influence of the tourist cultural background on destination choice. It focuses on the UK and Venezuela, the two countries with significant cultural differences and forecast growth in outbound tourism. The study shows the distinct role of culture in tourist preferences for destination choice and structure of travel groups. The effect of culture is also recorded in how tourists research destinations prior to visit and perceive travel risks, thus ultimately influencing their motivation to travel. Recommendations are developed on how to integrate knowledge on the cultural background of tourists into tourism management and policy-making practices

Opposite Effects of HIV-1 p17 Variants on PTEN Activation and Cell Growth in B Cells

The HIV-1 matrix protein p17 is a structural protein that can act in the extracellular environment to deregulate several functions of immune cells, through the interaction of its NH2-terminal region with a cellular surface receptor (p17R). The intracellular events triggered by p17/p17R interaction have been not completely characterized yet. In this study we analyze the signal transduction pathways induced by p17/p17R interaction and show that in Raji cells, a human B cell line stably expressing p17R on its surface, p17 induces a transient activation of the transcriptional factor AP-1. Moreover, it was found to upregulate pERK1/2 and downregulate pAkt, which are the major intracellular signalling components involved in AP-1 activation. These effects are mediated by the COOH-terminal region of p17, which displays the capability of keeping PTEN, a phosphatase that regulates the PI3K/Akt pathway, in an active state through the serin/threonin (Ser/Thr) kinase ROCK. Indeed, the COOH-terminal truncated form of p17 (p17Δ36) induced activation of the PI3K/Akt pathway by maintaining PTEN in an inactive phosphorylated form. Interestingly, we show that among different p17s, a variant derived from a Ugandan HIV-1 strain, named S75X, triggers an activation of PI3K/Akt signalling pathway, and leads to an increased B cell proliferation and malignant transformation. In summary, this study shows the role of the COOH-terminal region in modulating the p17 signalling pathways so highlighting the complexity of p17 binding to and signalling through its receptor(s). Moreover, it provides the first evidence on the presence of a p17 natural variant mimicking the p17Δ36-induced signalling in B cells and displaying the capacity of promoting B cell growth and tumorigenesis

Altering an Artificial Gagpolnef Polyprotein and Mode of ENV Co-Administration Affects the Immunogenicity of a Clade C HIV DNA Vaccine

HIV-1 candidate vaccines expressing an artificial polyprotein comprising Gag, Pol and Nef (GPN) and a secreted envelope protein (Env) were shown in recent Phase I/II clinical trials to induce high levels of polyfunctional T cell responses; however, Env-specific responses clearly exceeded those against Gag. Here, we assess the impact of the GPN immunogen design and variations in the formulation and vaccination regimen of a combined GPN/Env DNA vaccine on the T cell responses against the various HIV proteins. Subtle modifications were introduced into the GPN gene to increase Gag expression, modify the expression ratio of Gag to PolNef and support budding of virus-like particles. I.m. administration of the various DNA constructs into BALB/c mice resulted in an up to 10-fold increase in Gag- and Pol-specific IFNγ+ CD8+ T cells compared to GPN. Co-administering Env with Gag or GPN derivatives largely abrogated Gag-specific responses. Alterations in the molar ratio of the DNA vaccines and spatially or temporally separated administration induced more balanced T cell responses. Whereas forced co-expression of Gag and Env from one plasmid induced predominantly Env-specific T cells responses, deletion of the only H-2d T cell epitope in Env allowed increased levels of Gag-specific T cells, suggesting competition at an epitope level. Our data demonstrate that the biochemical properties of an artificial polyprotein clearly influence the levels of antigen-specific T cells, and variations in formulation and schedule can overcome competition for the induction of these responses. These results are guiding the design of ongoing pre-clinical and clinical trials