Does Growth & Quality of Capital Markets drive Foreign Capital? The case of Cross-border Mergers & Acquisitions from leading Emerging Economies

Is there any interrelationship between firm level FDI in the form of cross border Mergers & Acquisitions and capital markets growth and quality? We addressed this question using panel data of cross border M & A for nine emerging economies. Our study period goes from 1987 to 2006. We find that the stock market variables, viz., capitalization and value addition encourage the number of deals and value of cross border Mergers & Acquisitions. However, the association with regulatory and financial reforms is much stronger and robust.http://deepblue.lib.umich.edu/bitstream/2027.42/64368/1/wp911.pd

On p-Compact Sets in Classical Banach Spaces

Given p ≥ 1, we denote by Cp the class of all Banach spaces X satisfying the equality Kp(Y,X) = Πdp(Y,X) for every Banach space Y , Kp (respectively, Πdp ) being the operator ideal of p-compact operators (respectively, of operators with p-summing adjoint). If X belongs to Cp, a bounded set A ⊂ X is relatively p-compact if and only if the evaluation map U∗ A : X∗ −→ ∞(A) is p-summing. We obtain p-compactness criteria valid for Banach spaces in Cp

Rapid Economic Growth at the Cost of Environment Degradation? Panel Data Evidience from BRIC Economies

The paper investigates whether the decline in environmental quality in BRIC economies is due to high energy consumption level which is a resultant of rapid economic growth. We answer this using environmental, macroeconomic and financial variables along with Kyoto Protocol indicators based on panel data from 1992 to 2004.http://deepblue.lib.umich.edu/bitstream/2027.42/64409/1/wp908.pd

Market Risk Dynamics and Competitiveness After the Euro: Evidence from EMU Members

In this paper we propose an empirical model that considers theoretical facts on the relationship between real exchange rates and the net exports of the economy to supplement the interaction of a number of financial and economic factors with the stock market. We discuss the impact of exchange rate fluctuations on market risk in terms of Value at Risk (VaR). Our empirical findings show that common currency introduction produced increments in VaR whereas European stock returns are more sensitive to changes in competitiveness regarding the EMU rather than national exports. Finally, we show that the synchronisation of variation in competitiveness through the introduction of a single currency has made these changes more decisive in explaining financial market fluctuations.http://deepblue.lib.umich.edu/bitstream/2027.42/64351/1/wp916.pd

Does Growth & Quality of Capital Markets drive Foreign Capital? The case of Cross-border Mergers & Acquisitions from leading Emerging Economies

Is there any interrelationship between firm level FDI in the form of cross border Mergers & Acquisitions and capital markets growth and quality? We addressed this question using panel data of cross border M&A for nine emerging economies. Our study period goes from 1987 to 2006. We find that the stock market variables, viz., capitalization and value addition encourage the number of deals and value of cross border Mergers & Acquisitions. However, the association with regulatory and financial reforms is much stronger and robust.Financial Markets, Cross border M&A & Emerging Economies.

Does Growth & Quality of Capital Markets drive Foreign Capital? The case of Cross-border Mergers & Acquisitions from leading Emerging Economies

Is there any interrelationship between firm level FDI in the form of cross border Mergers & Acquisitions and capital markets growth and quality? We addressed this question using panel data of cross border M&A for nine emerging economies. Our study period goes from 1987 to 2006. We find that the stock market variables, viz., capitalization and value addition encourage the number of deals and value of cross border Mergers & Acquisitions. However, the association with regulatory and financial reforms is much stronger and robust. We then interact both the stock market variables with financial and regulatory reforms variables only to find much stronger results. The coefficients proved to be higher than other variables, suggesting that higher reforms in capital markets could increase firm level FDI. Moreover, the results are found to be extremely robust when we replace stock market variables with squared values of the same, reiterating the fact that larger is the growth, greater is the inflow of firm level FDI in the form of cross border Mergers & Acquisitions.Financial Markets, Cross border M&A & Emerging Economies

MARKET RISK DYNAMICS AND COMPETITIVENESS AFTER THE EURO: Evidence from EMU Members

In this paper we propose an empirical model that considers theoretical facts on the relationship between real exchange rates and the net exports of the economy to supplement the interaction of a number of financial and economic factors with the stock market. We discuss the impact of exchange rate fluctuations on market risk in terms of Value at Risk (VaR). Our empirical findings show that common currency introduction produced increments in VaR whereas European stock returns are more sensitive to changes in competitiveness regarding the EMU rather than national exports. Finally, we show that the synchronisation of variation in competitiveness through the introduction of a single currency has made these changes more decisive in explaining financial market fluctuations.Euro, Competitiveness, Market Risk, Net Export, Value-at-Risk, Volatility

Determinants Of Barries To Quality Of Direct Foreign Investments Evidences From South & East Asian Economies

The objective of this paper is to examine whether FDI inflows in South & East Asian economies posses any barriers which are deterring to attract FDI of their actual potential? If so, what are those various set of barriers? These questions are addressed in this study using cross section time series data for 17 South and East Asian economies from 1996 to 2005.http://deepblue.lib.umich.edu/bitstream/2027.42/64376/1/wp910.pd

Nitrous oxide emissions decrease with plant diversity but increase with grassland primary productivity

Nitrous oxide (N2O), a main greenhouse gas that contributes to ozone layer depletion, is released from soils. Even when it has been argued that agriculture is the main cause of its increase in the atmosphere, natural ecosystems are also an important source of N2O. However, the impacts of human activities on N2O emissions through biodiversity loss or primary productivity changes in natural ecosystems have rarely been assessed. Here, we analyzed the effects of vegetation attributes such as plant diversity and production, as drivers of N2O emission rates, in addition to environmental factors. We measured N2O emissions monthly during 1 year in 12 sites covering a large portion of the Rio de la Plata grasslands, Argentina, and related these emissions with climate, soil and vegetation attributes. We performed spatial and temporal models of N2O emissions separately, to evaluate which drivers control N2O in space and over time independently. Our results showed that in the spatial model, N2O emissions decreased with increments in plant species richness, with concomitant reductions in soil NO3-, whereas N2O emissions increased with primary productivity. By contrast, in the temporal model, monthly precipitation and monthly temperature were the main drivers of N2O emissions, with positive correlations, showing important differences with the spatial model. Overall, our results show that biological drivers may exert substantial control of N2O emissions at large spatial scales, together with climate and soil variables. Our results suggest that biodiversity conservation of natural grasslands may reduce regional greenhouse gas emissions, besides maintaining other important ecosystem services.Fil: Piñeiro Guerra, Juan Manuel. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Parque Centenario. Instituto de Investigaciones Fisiológicas y Ecológicas Vinculadas a la Agricultura. Universidad de Buenos Aires. Facultad de Agronomía. Instituto de Investigaciones Fisiológicas y Ecológicas Vinculadas a la Agricultura; ArgentinaFil: Yahdjian, María Laura. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Parque Centenario. Instituto de Investigaciones Fisiológicas y Ecológicas Vinculadas a la Agricultura. Universidad de Buenos Aires. Facultad de Agronomía. Instituto de Investigaciones Fisiológicas y Ecológicas Vinculadas a la Agricultura; ArgentinaFil: Della Chiesa, Tomás. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Parque Centenario. Instituto de Investigaciones Fisiológicas y Ecológicas Vinculadas a la Agricultura. Universidad de Buenos Aires. Facultad de Agronomía. Instituto de Investigaciones Fisiológicas y Ecológicas Vinculadas a la Agricultura; ArgentinaFil: Piñeiro, Gervasio. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Parque Centenario. Instituto de Investigaciones Fisiológicas y Ecológicas Vinculadas a la Agricultura. Universidad de Buenos Aires. Facultad de Agronomía. Instituto de Investigaciones Fisiológicas y Ecológicas Vinculadas a la Agricultura; Argentin

Radio APPS: mobility for radio media without limits

[Resumen]: La mediamorfosis ha supuesto una transformación radical de la radio con la incorporación de nuevas posibilidades vinculadas al medio digital. En el contexto actual, la penetración vivida por los dispositivos móviles de última generación ha llevado a las empresas mediáticas a la creación de sus propias aplicaciones para el consumo de radio en movilidad. El presente estudio ha tenido por objeto conocer la oferta de las aplicaciones para Tablet y Smartphone de las cadenas españolas.[Abstract]: Mediamorphose has supposed a radical radio transformation due to the digital media possibilities incorporation. In actual context, mobile devices penetration had forced media companies to create their own application for mobile radio consumption. Present study aims to know Spanish radio networks application offer for Tablet and Smartphone