Investment and Internal Finance: Asymmetric Information or Managerial Discretion?

This paper examines the relation between cash-flow availability and investment spending in the Netherlands. In particular, we are interested whether managerial discretion and/or asymmetric information drive the positive relation between cash-flow and investment spending. This relation is positive for both firms with lo

Джерельна база досліджень проблем німецького колоніалізму

Disfluencies (such as uh and uhm) are a common phenomenon in spontaneous speech. Rather than filtering these hesitations from the incoming speech signal, listeners are sensitive to disfluency and have been shown to actually use disfluencies for speech comprehension. For instance, disfluencies have been found to have beneficial effects on listeners’ memory. Accumulating evidence indicates that attentional mechanisms underlie this disfluency effect: upon encountering disfluency, listeners raise their attention to the incoming speech signal. The experiments reported here investigated whether these beneficial effects of disfluency also hold when listening to a non-native speaker. Recent studies on the perception of non-native disfluency suggest that disfluency effects on prediction are attenuated when listening to a non-native speaker. This attenuation may be a result of listeners being familiar with the frequent and more variant incidence of disfluencies in non-native speech. If listeners also modulate the beneficial effect of disfluency on memory when listening to a non-native speaker, it would indicate a certain amount of control on the part of the listener over how disfluencies affect attention, and thus comprehension. Furthermore, it would argue against the hypothesis that disfluencies affect comprehension in a rather automatic fashion (cf. the Temporal Delay Hypothesis). Using the Change Detection Paradigm, we presented participants with three-sentence passages that sometimes contained a filled pause (e.g., “... that the patient with the uh wound was...”). After each passage, participants saw a transcript of the spoken passage in which one word had been substituted (e.g., “wound” > “injury”). In our first experiment, participants were more accurate in recalling words from previously heard speech (i.e., detecting the change) if these words had been preceded by a disfluency (relative to a fluent passage). Our second experiment - using non-native speech materials - demonstrated that non-native uh’s elicited an effect of the same magnitude and in the same direction: when new participants listened to a non-native speaker producing the same passages, they were also more accurate on disfluent (as compared to fluent) trials. These data suggest that, upon encountering a disfluency, listeners raise their attention levels irrespective of the (non-)native identity of the speaker. Whereas listeners have been found to modulate prediction effects of disfluencies when listening to non-native speech, no such modulation was found for memory effects of disfluencies in the present data, thus potentially constraining the role of listener control in disfluency processing. The current study emphasizes the central role of attention in an account of disfluency processing

Funding sustainable cities: A comparative study of Sino-Singapore Tianjin Eco-City and Shenzhen International Low-Carbon City

China has gone through a rapid process of urbanization, but this has come along with serious environmental problems. Therefore, it has started to develop various eco-cities, low-carbon cities, and other types of sustainable cities. The massive launch of these sustainable initiatives, as well as the higher cost of these projects, requires the Chinese government to invest large sums of money. What financial toolkits can be employed to fund this construction has become a critical issue. Against this backdrop, the authors have selected Sino-Singapore Tianjin Eco-city (SSTEC) and Shenzhen International Low-Carbon City (ILCC) and compared how they finance their construction. Both are thus far considered to be successful cases. The results show that the two cases differ from each other in two key aspects. First, ILCC has developed a model with less financial and other supports from the Chinese central government and foreign governments than SSTEC, and, hence, may be more valuable as a source of inspiration for other similar projects for which political support at the national level is not always available. Second, by issuing bonds in the international capital market, SSTEC singles itself out among various sustainable initiatives in China, while planning the village area as a whole and the metro plus property model are distinct practices in ILCC. In the end, the authors present a generic financing model that considers not only economic returns but also social and environmental impacts to facilitate future initiatives to finance in more structural ways

Urinary Albumin Excretion and Its Relation With C-Reactive Protein and the Metabolic Syndrome in the Prediction of Type 2 Diabetes

OBJECTIVE—To investigate urinary albumin excretion (UAE) and its relation with C-reactive protein (CRP) and the metabolic syndrome in the prediction of the development of type 2 diabetes. RESEARCH DESIGN AND METHODS—We used data from the Prevention of Renal and Vascular End Stage Disease (PREVEND) study, an ongoing, community-based, prospective cohort study initiated in 1997 in the Netherlands. The initial cohort consisted of 8,592 subjects. After 4 years, 6,894 subjects participated in a follow-up survey. Subjects with diabetes at baseline or missing data on fasting glucose were excluded, leaving 5,654 subjects for analysis. The development of type 2 diabetes, defined as a fasting glucose ≥7.0 mmol/l and/or the use of antidiabetic medication, was used as the outcome measure. UAE was calculated as the mean UAE from two consecutive 24-h urine collections. Logistic regression models were used, with the development of type 2 diabetes as the dependent variable. RESULTS—Of the 5,654 subjects for whom data were analyzed, 185 (3.3%) developed type 2 diabetes during a mean follow-up period of 4.2 years. UAE, CRP, and the presence of the metabolic syndrome at baseline were significantly associated with the incidence of type 2 diabetes (P < 0.001 for all variables). In a univariate model, the odds ratio (OR) for UAE was 1.59 (95% CI 1.42–1.79). In our full model, adjusted for age, sex, number of criteria of metabolic syndrome, and other known risk factors for the development of type 2 diabetes (including fasting insulin), the association between UAE and type 2 diabetes remained significant (OR 1.53, 95% CI 1.25–1.88, P < 0.001). There was a significant interaction between UAE and CRP (P = 0.002). After CRP was stratified into tertiles, the ORs for the association between baseline UAE and the development of type 2 diabetes were 2.2 (1.47–3.3), 1.33 (0.96–1.84), and 1.04 (0.83–1.31) for the lowest to highest tertiles, respectively. CONCLUSIONS—UAE predicts type 2 diabetes independent of the metabolic syndrome and other known risk markers of development of type 2 diabetes. The predictive value of UAE was modified by the level of CRP

Система показателей социальной диагностики состояния общества в условиях демократических преобразований в Украине

В статье предпринята попытка проанализировать различные подходы к показателям социальной диагностики состояния современного общества. Предложена методика социальной диагностики состояния современного общества с позиций объективных показателей развития.У статті зроблена спроба проаналізувати різні підходи до показників соціальної діагностики стану сучасного суспільства. Запропонована методика соціальної діагностики стану сучасного суспільства з позицій об'єктивних показників розвитку.An attempt to analyze different approaches to the indexes of social diagnostics of the state of modern society is undertaken in the article. The method of social diagnostics of the state of modern society is offered from positions of objective indexes of development

Changes in renal tri-iodothyronine and thyroxine handling during fasting

OBJECTIVE: Liver handling of thyroid hormones (TH) has been known to alter significantly during fasting. This study investigates whether renal handling of TH is also changed during fasting. METHODS: We measured urinary excretion rates and clearances of free tri-iodothyronine (T(3)) and free thyroxine (T(4)) in healthy subjects prior to and on the third day of fasting. RESULTS: During fasting, both mean T(3) and T(4) urinary excretion decreased significantly to a mean value of 42% of control. Also, total and free (F) serum T(3) concentrations declined significantly, but serum T(4) did not change. Both FT(3) and FT(4) clearance decreased significantly during fasting (62% and 42% of control). The fasting-induced decrease in uric acid clearance correlated well with the decrease in FT(3) clearance (r=0.94; P<0.001). Serum concentrations of non-esterified fatty acids (NEFA) were significantly elevated during fasting. CONCLUSIONS: The findings cannot be fully explained by the fasting-induced decrease in serum T(3), a

Occupational allergy in Strawberry Greenhouse workers

Background: Employees in strawberry greenhouses are highly exposed to several (potential) allergenic agents. However, no occupational allergy in this branch has been described before. First, the presence of work-related allergic symptoms in strawberry workers was explored. Second, we aimed to prove the concept that an IgE-mediated allergy could be responsible for work-related symptoms. To test the possibility of an IgE response secondary to cross-reactivity to birch or grass pollen, inhibition experiments were performed. Methods: First, a questionnaire survey concerning work-related allergic symptoms among strawberry workers in the Netherlands was carried out. Second, 3 workers with work-related symptoms were investigated in detail. Skin tests, serum-specific IgE tests with home-made extracts of strawberry pollen and other possible allergenic agents of the strawberry greenhouse environment were executed. Furthermore, immunoblots and nasal provocations with strawberry pollen extract were performed. In addition, inhibition experiments were performed. Results: 29 of 75 questionnaire respondents (38.7%) reported work-related symptoms. Sensitization to strawberry pollen was found in skin tests in all 3 employees with work-related symptoms. ELISA and immunoblotting with strawberry pollen showed positive results in 2 employees. Birch and grass pollen failed to inhibit IgE binding to strawberry pollen in 1 of 2 employees. Partial inhibition was seen in the second employee. Nasal provocation validated clinically relevant allergy to these pollens in 2 of 3 subjects. Conclusions: Allergic symptoms attributable to the workplace are present among a proportion of strawberry greenhouse employees. An IgE-mediated occupational allergy to strawberry pollen may contribute to these symptoms

The emerging role of galectins in (re)myelination and its potential for developing new approaches to treat multiple sclerosis

Multiple sclerosis (MS) is an inflammatory, demyelinating and neurodegenerative disease of the central nervous system with unknown etiology. Currently approved disease-modifying treatment modalities are immunomodulatory or immunosuppressive. While the applied drugs reduce the frequency and severity of the attacks, their efficacy to regenerate myelin membranes and to halt disease progression is limited. To achieve such therapeutic aims, understanding biological mechanisms of remyelination and identifying factors that interfere with remyelination in MS can give respective directions. Such a perspective is given by the emerging functional profile of galectins. They form a family of tissue lectins, which are potent effectors in processes as diverse as adhesion, apoptosis, immune mediator release or migration. This review focuses on endogenous and exogenous roles of galectins in glial cells such as oligodendrocytes, astrocytes and microglia in the context of de- and (re)myelination and its dysregulation in MS. Evidence is arising for a cooperation among family members so that timed expression and/or secretion of galectins-1, -3 and -4 result in modifying developmental myelination, (neuro)inflammatory processes, de- and remyelination. Dissecting the mechanisms that underlie the distinct activities of galectins and identifying galectins as target or tool to modulate remyelination have the potential to contribute to the development of novel therapeutic strategies for MS

The human homologue of the yeast mitochondrial AAA metalloprotease Yme1p complements a yeast yme1 disruptant

AbstractIn yeast, three AAA superfamily metalloproteases (Yme1p, Afg3p and Rca1p) are localized to the mitochondrial inner membrane where they perform roles in the assembly and turnover of the respiratory chain complexes. We have investigated the function of the proposed human orthologue of yeast Yme1p, encoded by the YME1L gene on chromosome 10p. Transfection of both HEK-293EBNA and yeast cells with a green fluorescent protein-tagged YME1L cDNA confirmed mitochondrial targeting. When expressed in a yme1 disruptant yeast strain, YME1L restored growth on glycerol at 37°C. We propose that YME1L plays a phylogenetically conserved role in mitochondrial protein metabolism and could be involved in mitochondrial pathologies

Low percentage of clinically relevant pistachio nut and mango co-sensitisation in cashew nut sensitised children

Background: Cashew nut, pistachio nut and mango belong to the Anacardiaceae family and are botanically related. Therefore, cashew nut sensitised children are frequently advised to eliminate cashew nuts and pistachio nuts from their diet. The ‘Improvement of Diagnostic mEthods for ALlergy assessment (IDEAL trial number NTR3572) study showed that cashew nut sensitised children were co-sensitised to pistachio nut in 98% of cases and to mango in 21% of cases. The aim of this follow-up study to IDEAL is to assess the clinical relevance of co-sensitisation to pistachio nut and mango in cashew nut sensitised children. Methods: Children were recruited from the study: ‘Improvement of Diagnostic mEthods for ALlergy assessment (IDEAL trial number NTR3572). Inclusion criterion for the IDEAL study was sensitization to cashew nut as demonstrated by either SPT or sIgE, and a clinical history of reactions to cashew nuts or no previous (known) exposure. Sensitized children who were tolerant to cashew nuts were excluded. Inclusion criterion for this IDEAL follow-up study was co-sensitization to pistachio nut, regardless the result of the DBPCFC with cashew nut. In this follow-up study a double-blind placebo-controlled food challenge with pistachio nut and an open food challenge with mango were performed. Results: Twenty-nine children (mean age of 11.6 years, 62% male) were included. Pistachio nut sensitisation was clinically relevant in only 34% of cashew-sensitised children and only 31% of cashew challenge positive children. None of the children was challenge positive to mango. Conclusion: Although co-sensitisation between cashew nut and pistachio nut was observed in 98%, pistachio nut sensitisation was only clinically relevant in 34% of the children. Therefore, a challenge test with pistachio nut is recommended in children with cashew nut and pistachio nut sensitisation