Commentary—The Stock Market\u27s Pricing of Customer Satisfaction

A number of recent marketing studies examine the stock market\u27s response to the release of American Customer Satisfaction Index (ACSI) scores. The broad purpose of these studies is to investigate the stock market\u27s valuation of customer satisfaction. However, a key focus is on whether customer satisfaction information predicts long-run returns. We provide evidence on the market\u27s pricing of ACSI information using a more comprehensive set of well-established tests from the accounting and finance literatures. We find that ACSI scores provide some incremental information on future operating income and that the market quickly responds to the release of information on large increases in satisfaction. However, we find no evidence that ACSI predicts long-run returns. These results suggest that customer satisfaction information is value relevant, but they are also consistent with Jacobson and Mizik\u27s conclusion [Jacobson, R., N. Mizik. 2009. The financial markets and customer satisfaction: Reexamining possible financial market mispricing of customer satisfaction. Marketing Sci. 28(5) 810–819] that mispricing of ACSI information, if present at all, is limited

Nitric oxide synthase isoform III gene expression in rat liver is up-regulated by lipopolysaccharide and lipoteichoic acid

AbstractThis study was done to investigate the influence of Gram-negative and Gram-positive sepsis on the expression of the three isoforms of nitric oxide synthase (NOS) gene in rat liver and kidney. Male Sprague-Dawley rats were treated with lipopolysaccharide (LPS, 10 mg/kg i.v.) as an in vivo model for Gram-negative sepsis or lipoteichoic acid (LTA, 10 mg/kg i.v.) as an in vivo model for Gram-positive sepsis. Animals were killed 12 h and 24 h after i.v. treatment. NOS mRNA of the three isoforms was determined by RNase protection assay. NOSII gene expression was strongly induced after LPS or LTA treatment in rat liver and kidney, indicating the efficacy of this treatment to induce sepsis. We found no change of NOSI gene expression after LPS or LTA injection in rat liver and kidney. NOSIII gene expression was increased about 8-fold 12 h and about 5-fold 24 h after induction of sepsis in the rat liver whereas in the kidney there was no significant increase in NOSIII gene expression. After correction for length NOSIII mRNA was about 4- and 40-fold more abundant 12 h and 24 h after LPS treatment than NOSII mRNA in the liver, respectively. Twelve and 24 h after LTA treatment NOSIII mRNA was about 18- and 140-fold more abundant than NOSII in the liver. These findings suggest that NOSIII is an even more potent source of NO than NOSII in the liver after stimulation with LPS or LTA

Auswirkung der Weideintensität auf bodenphysikalische und -chemische Parameter und Vegetation

Grünland stellt neben Ackerbau die zweitgrößte agrarische Nutzungsform in Deutschland dar. Traditionell wird Grünland primär als Standort für die Produktion von Futtermitteln wahrgenommen, welche über Beweidung oder Mahd geerntet werden. Obwohl ein Trend zur Stallhaltung beobachtet wird, kann die Weidehaltung unter dem Aspekt des Tierwohles, in Hinblick auf die Wirtschaftlichkeit der Milchviehbetriebe und unter Berücksichtigung der ökologischen Landschaftsfunktionen des Grünlandes eine wichtige Rolle spielen. Neben der Bereitstellung von Futtermitteln gehören zu den wichtigsten Ökosystemleistungen des Grünlandes Wasserregulationsfunktionen und Bodenerosionsschutz, zudem das Potenzial zur Klimaregulierung über vermehrte Kohlenstoffspeicherung und der Schutz biotischer Ressourcen über den Erhalt und Erhöhung der Biodiversität. Wie sich diese Ökosystemleistungen auf intensiv genutzten Weidestandorten mit steigender Nutzungsintensität und Trittbelastung verändern, ist bisher wenig erforscht. Das ÖKOTAWEK-Projekt („Ökonomische, ökologische und Tierwohlaspekte der Weidehaltung von Hochleistungskühen“; gefördert von der Bundesanstalt für Landwirtschaft und Ernährung) analysiert neben den ökonomischen und Tierwohlaspekten auch das ökologische Wirkungsgefüge der intensiven Weidehaltung. Die Untersuchungen erfolgten anhand ausgewählter Praxisbetriebe in Norddeutschland. Innerhalb des Teilprojektes Bodenökologie wurden auf den Untersuchungsflächen bis zu vier Trittintensitätsklassen untersucht. Für jede Klasse wurden zum einen die bodenphysikalischen Parameter, wie die Trockenrohdichte und Kennwerte auf Basis der Wasserretentionskurve, bestimmt. Zum anderen wurden Unterschiede in Bezug auf chemische Parameter, wie der Gehalt an Phosphor, Kalium, Stickstoff und organischem Kohlenstoff sowie zum pH-Wert, untersucht. Im Weiteren können auf Basis der Vegetationszusammensetzung, Trockenmasseerträge und Kennwerte der Weender Futtermittelanalyse Rückschlüsse der Trittintensität auf Erträge und Erntequalität gezogen werden. Der Vortrag präsentiert die mittels PCA (Principal Component Analysis) und anderen statistischen Verfahren ermittelten Zusammenhänge aus dreijähriger Projektarbeit

Dual wavelength heterodyne interferometry for rough surface measurements

For interferometric topography measurements of optically rough surfaces dual wavelength heterodyne Interferometry (DWHI) is a powerful tool. A DWHI system based on a two-wavelength HeNe laser and a matched grating technique is described. This set-up improves system stability and simple heterodyne frequency generation

Two-wavelength double heterodyne interferometry using a matched grating technique

Two-wavelength double heterodyne interferometry is applied for topographic measurements on optically rough target surfaces. A two-wavelength He-Ne laser and a matched grating technique are used to improve system stability and to simplify heterodyne frequency generation

Neural crest stem cell maintenance by combinatorial Wnt and BMP signaling

Canonical Wnt signaling instructively promotes sensory neurogenesis in early neural crest stem cells (eNCSCs) (Lee, H.Y., M. Kléber, L. Hari, V. Brault, U. Suter, M.M. Taketo, R. Kemler, and L. Sommer. 2004. Science. 303:1020–1023). However, during normal development Wnt signaling induces a sensory fate only in a subpopulation of eNCSCs while other cells maintain their stem cell features, despite the presence of Wnt activity. Hence, factors counteracting Wnt signaling must exist. Here, we show that bone morphogenic protein (BMP) signaling antagonizes the sensory fate-inducing activity of Wnt/β-catenin. Intriguingly, Wnt and BMP act synergistically to suppress differentiation and to maintain NCSC marker expression and multipotency. Similar to NCSCs in vivo, NCSCs maintained in culture alter their responsiveness to instructive growth factors with time. Thus, stem cell development is regulated by combinatorial growth factor activities that interact with changing cell-intrinsic cues

Dual wavelength heterodyne interferometry using a matched grating set-up

Two-wavelength double heterodyne interferometry is applied for topographic measurements on rough target surfaces. A two-wavelength HeNe laser and a matched grating technique are used to improve system stability and to simplify heterodyne frequency generation. Results obtained with an experimental set-up will be presented. The results obtained show that a dual wavelength heterodyne interferometer is appropriate for high precision ranging. Progressing developments for large distances will be discussed

Two wavelength heterodyne absolute ranging technique using suppressed carrier modulation

For interferometric distance measurements on rough surfaces multiple wavelength interferometry is a powerful tool. It allows to reduce the sensitivity and to extend the range of unambiguity for interferometric measurement. A new kind of a double wavelength heterodyne interferometer is presented which uses only one laser source which generates two wavelengths λ 1 and λ 2 simultaneously. The two different heterodyne frequency shifts of the double heterodyne interferometer (DHI) are achieved by combining an acousto-optical modulator (driven in suppressed carrier mode) with a fixed diffraction grating. In a first prototype a multi-wavelength HeNe laser was used as light source. The synthetic wavelength λ in this system is 55.5 μm and the resolution about 0.15 μm. Measurement results obtained with the setup described are presented

Cytoplasmic Accumulation and Aggregation of TDP-43 upon Proteasome Inhibition in Cultured Neurons

Amyotrophic lateral sclerosis (ALS) and frontotemporal lobar degeneration (FTLD) are characterized by intraneuronal deposition of the nuclear TAR DNA-binding protein 43 (TDP-43) caused by unknown mechanisms. Here, we studied TDP-43 in primary neurons under different stress conditions and found that only proteasome inhibition by MG-132 or lactacystin could induce significant cytoplasmic accumulation of TDP-43, a histopathological hallmark in disease. This cytoplasmic accumulation was accompanied by phosphorylation, ubiquitination and aggregation of TDP-43, recapitulating major features of disease. Proteasome inhibition produced similar effects in both hippocampal and cortical neurons, as well as in immortalized motor neurons. To determine the contribution of TDP-43 to cell death, we reduced TDP-43 expression using small interfering RNA (siRNA), and found that reduced levels of TDP-43 dose-dependently rendered neurons more vulnerable to MG-132. Taken together, our data suggests a role for the proteasome in subcellular localization of TDP-43, and possibly in disease

Colloquium on Solid State Devices

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