The Relationship of Nutritional Factors to Apple Tree Root Damage by Pine Voles

Damage to apple tree roots by pine voles is believed to occur primarily during the winter months. Cengel et a1. (1978) found that the stomachs of pine voles contained significant amounts of root material only during January and March sampling periods. In addition, the diet of pine voles at that time consisted primarily of less preferred grass species because preferred forb species were unavailable. Therefore, apple tree roots may serve as a food source in the winter when preferred forages are unavailable. If, in fact, pine voles are consuming roots in response to reduced food supplies, then one would expect the nutritional quality of the diets of pine voles to be its lowest during the winter. The objective of this study was to determine if there was a winter decline in the digestibility of the diet of the pine vole

Multiple agency perspective, family control, and private information abuse in an emerging economy

Using a comprehensive sample of listed companies in Hong Kong this paper investigates how family control affects private information abuses and firm performance in emerging economies. We combine research on stock market microstructure with more recent studies of multiple agency perspectives and argue that family ownership and control over the board increases the risk of private information abuse. This, in turn, has a negative impact on stock market performance. Family control is associated with an incentive to distort information disclosure to minority shareholders and obtain private benefits of control. However, the multiple agency roles of controlling families may have different governance properties in terms of investors’ perceptions of private information abuse. These findings contribute to our understanding of the conflicting evidence on the governance role of family control within a multiple agency perspectiv

Identification of clusters of investors from their real trading activity in a financial market

We use statistically validated networks, a recently introduced method to validate links in a bipartite system, to identify clusters of investors trading in a financial market. Specifically, we investigate a special database allowing to track the trading activity of individual investors of the stock Nokia. We find that many statistically detected clusters of investors show a very high degree of synchronization in the time when they decide to trade and in the trading action taken. We investigate the composition of these clusters and we find that several of them show an over-expression of specific categories of investors.Comment: 25 pages, 5 figure