The profitability and risk effects of allowing bank holding companies to merge with other financial firms: a simulation study

Bank mergers ; Bank holding companies ; Nonbank activities

Investigating the banking consolidation trend

This paper examines whether the U.S. banking industry's recent consolidation trend--toward fewer and bigger firms--is a natural result of market forces. The paper finds that it is not: The evidence does not support the popular claims that large banking firms are more efficient and less risky than smaller firms or the notion that the industry is consolidating in order to eliminate excess capacity. The paper suggests, instead, that public policies are encouraging banks to merge, although it acknowledges that other forces may be at work as well.Bank mergers

Omnivory by the Small Cosmopolitan Hydromedusa Aglaura Hemistoma

We investigated the feeding of the small hydromedusa, Aglaura hemistoma (bell diameter \u3c 4 mm), to determine if it occupies a trophic position similar to that of large medusae. Feeding was examined using gut-content analysis of preserved and unpreserved medusae and by analyzing prey-capture events using microvideographic techniques. Analysis of gut contents and prey-capture events revealed that A. hemistoma fed heavily on protistan prey and that it possessed a prey-capture mechanism, specifically a feeding current,that is effective at entraining and capturing protists with low motility. We suggest that many species of small hydromedusae possess prey-capture mechanisms adapted to capture small protistan prey and that many of these small hydromedusae feed omnivorously on microplanktonic prey. The trophic roles of small hydromedusae in different systems are not understood and more studies are needed. However, based on their often high abundances and the cosmopolitan nature, if small hydromedusae are primarily omnivores, they need to be considered when estimating the impact of zooplankton on primary production and, more generally, protistan community dynamics

Diving in Two Marine Lakes in Croatia

We describe the diving methods used for in-situ observations of the scyphozoan medusa, Aurelia sp., in two marine lakes on the island of Mljet, Croatia. Both lakes have a strong pycnocline at approximately 15 m. During this study (May, 2004) surface temperature was about 20o C; bottom temperature about 10o C. Visibility was 15 m to 30 m. Tide and currents were negligible. A dense resident population of Aurelia sp. and a predictable environment made this an ideal study site. Aurelia was most abundant in mid-water around the pycnocline. There were several dive objectives: specimen collection for laboratory analysis, population census, discrete plankton tows and direct observation of flow around swimming medusae. We used several methods for maintaining our orientation underwater including working from an anchor line, towing a tethered buoy, and use of a blue water rig. Because the environment was relatively benign we allowed the rig to drift free while the boat was standing by at a short distance. Often a tether was not required. This plan allowed the most freedom and provided an excellent reference throughout the dive

Breeding for improved nitrogen use efficiency in oilseed rape

Oilseed rape has a high requirement for nitrogen (N) fertiliser relative to its seed yield. This paper uses published and unpublished work to explore the extent to which the N use efficiency (seed yield ÷ N supply) of oilseed rape could be improved without reducing seed yield. It was estimated that if the concentration of N in the stem and pod wall at crop maturity could be reduced from 1.0 to 0.6%, the root length density increased to 1 cm/cm3 to 100 cm soil depth and the post flowering N uptake increased by 20 kg N/ha then the fertiliser requirement could be reduced from 191 to 142 kg N/ha and the N use efficiency could be increased from 15.2 to 22.4 kg of seed dry matter per kg N. Genetic variation was found for all of the traits that were estimated to be important for N use efficiency. This indicates that there is significant scope for plant breeders to reduce N use efficiency in oilseed rape