SPANISH COMPANY FOREIGN MARKET ENTRY

The aim of this paper is to analyse the determinants of diversification mode (acquisition versus greenfield) through foreign direct investment considering various theories, such as those of mergers and acquisitions, transaction costs, the learning organisation, the institutional context of the company and the cultural environment of the host country, and to analyse the determinants of entry mode combining diversification mode with ownership structure decision (greenfield wholly-owned subsidiaries, greenfield joint ventures, full acquisition and partial acquisition) and proposing various research hypotheses. The methodology used estimates various binomial and multinomial logit models, over a sample of 141 Spanish manufacturing companies between 1998 and 2000, finding that entry mode into a foreign country through direct investment is mainly explained by related diversification, international and local experience, advertising intensity, cultural distance, company size and ownership structure. El propósito de este trabajo consiste en analizar, por un lado, los determinantesdel modo de diversificación (adquisición versus desarrollo interno) de la inversióndirecta en el exterior considerando diversas aproximaciones teóricas, como las defusiones y adquisiciones, costes de transacción, del aprendizaje organizativo, así comodel contexto institucional de la empresa y del entorno cultural del país receptor. Por otrolado, se examinan los determinantes de la inversión directa exterior combinando elmodo de diversificación con la estructura de la propiedad empresarial (adquisición total,adquisición parcial, filial de plena propiedad y filial de propiedad compartida)proponiendo diversas hipótesis de investigación. La metodología aplicada estimadiversos modelos logit, binomial y multinomial, sobre 141 empresas españolasmanufactureras entre 1998 y 2000, detectando que el modo de entrada medianteinversión directa exterior viene explicada por la diversificación relacionada, laexperiencia internacional y local de la empresa, la intensidad publicitaria, la distanciacultural, así como por el tamaño y estructura de la propiedad de la empresa.marketing internacional, modo de entrada, inversión directa en el exterior, joint-venture, adquisición. international marketing, entry mode, foreign direct investment, jointventure, acquisition

Energy partition and segregation for an intruder in a vibrated granular system under gravity

The difference of temperatures between an impurity and the surrounding gas in an open vibrated granular system is studied. It is shown that, in spite of the high inhomogeneity of the state, the temperature ratio remains constant in the bulk of the system. The lack of energy equipartition is associated to the change of sign of the pressure diffusion coefficient for the impurity at certain values of the parameters of the system, leading to a segregation criterium. The theoretical predictions are consistent with previous experimental results, and also in agreement with molecular dynamics simulation results reported in this paper.Comment: To appear in Phys. Rev. Let

Symmetry breaking and clustering in a vibrated granular gas with several macroscopically connected compartments

The spontaneous symmetry breaking in a vibro-fluidized low-density granular gas in three connected compartments is investigated. When the total number of particles in the system becomes large enough, particles distribute themselves unequally among the three compartments. Particles tend to concentrate in one of the compartments, the other two having the (relatively small) same average number of particles. A hydrodynamical model that accurately predicts the bifurcation diagram of the system is presented. The theory can be easily extended to the case of an arbitrary number of connected compartments

Intercalary membrane as the inner wall overlying optic and chorio-retinal colobomas. Deep penetration Swept Source-OCT study.

Five eyes of four patients were studied to analyze the structure of the inner wall of optic and chorioretinal colobomas using swept-source optical coherence tomography (SS-OCT). The colobomatous cavities and their relationship with adjacent structures were examined. SS-OCT permitted the study of the colobomatous cavities in all cases. In four of those cases, a Y-shaped intercalary membrane (ICM) was identified, with an origin in the retinal nerve fiber layer (RNFL), which covered the coloboma and in one case the coloboma was in contact with the vitreous cavity. Vitreous adhesion to the internal wall of the coloboma was found in three cases. No clinical or tomographic maculopathy was observed in any patient. High-resolution deep penetration SS-OCT allows in vivo study of optic and chorioretinal colobomas, identifying the RNFL as the main component of the ICM overlying the colobomatous cavities

Re: Alemtuzumab-Induced Resolution of Pulmonary Noninfectious Complications in a Patient with Chronic Graft-versus-Host Disease

This study investigated the validation of the psychological resilience scale adaptation from youth development module (RYDM) for secondary school. The psychological RYDM is measured by six factors psychological assets was strongly associated with students academic success. A sample of study is 158 seventh grade students from five secondary schools in Singaraja, Bali Province (75 or 47.4% male and 83 or 52.6%  female, with age range 12-13 years). The constructs validation was conduct by exploratory factor analysis (EFA) method, with SPSS 22.0. Five iterations of the EFA reducing 18 original items to 14 items and 6 original factors to 5 factors. Five factors and 14 items produced are consistent with the conceptual basis used in the original RYDM. The stability of new five factors is formed by a split sample analysis method showed the all of the items of factors identified in the earlier testing stable adequacy of forming a common factor in this analysis in the first and second iteration. The results of analysis the item-total correlation on 14 item (n = 158) showed Cronbach's Alpha value of 0.777. Implications the study for guidance and counseling practice in schools is discussed

Hydrodynamic profiles for an impurity in a open vibrated granular gas

The hydrodynamic state of an impurity immersed in a low density granular gas is analyzed. Explicit expressions for the temperature and density fields of the impurity in terms of the hydrodynamic fields of the gas are derived. It is shown that the ratio between the temperatures of the two components, measuring the departure from energy equipartition, only depends on the mechanical properties of the particles, being therefore constant in the bulk of the system. This ratio plays an important role in determining the density profile of the intruder and its position with respect to the gas, since it determines the sign of the pressure diffusion coefficient. The theoretical predictions are compared with molecular dynamics simulation results for the particular case of the steady state of an open vibrated granular system in absence of macroscopic fluxes, and a satisfactory agreement is found

Influence of the Yesa reservoir on floods of the Aragón River, central Spanish Pyrenees

International audienceThe Yesa reservoir, the largest Pyrenean reservoir, was constructed in 1959 to supply water to new irrigated areas in the Ebro Depression, NE Spain. It is filled from October to May-June and then releases large quantities of water in the summer via the Bardenas Canal. The results confirm that the frequency of floods downstream of the dam decreased. The reduction mainly depends on two factors: i) the water storage level, and ii) the season of the year. Floods are very well controlled when the reservoir level is lower than 50%. Between 50 and 70%, only the highest floods are controlled. Finally, the reservoir retains mainly autumn and spring floods; most winter floods are released downstream to ensure the safety of the dam. Keywords: reservoir, flood control, flood seasonality, flood frequency, river regime, Pyrenees</p

Candida albicans Potassium Transporters

Potassium is basic for life. All living organisms require high amounts of intracellular potassium, which fulfils multiple functions. To reach efficient potassium homeostasis, eukaryotic cells have developed a complex and tightly regulated system of transporters present both in the plasma membrane and in the membranes of internal organelles that allow correct intracellular potassium content and distribution. We review the information available on the pathogenic yeast Candida albicans. While some of the plasma membrane potassium transporters are relatively well known and experimental data about their nature, function or regulation have been published, in the case of most of the transporters present in intracellular membranes, their existence and even function have just been deduced because of their homology with those present in other yeasts, such as Saccharomyces cerevisiae. Finally, we analyse the possible links between pathogenicity and potassium homeostasis. We comment on the possibility of using some of these transporters as tentative targets in the search for new antifungal drugs