Daytime REM sleep affects emotional experience but not decision choices in moral dilemmas

Moral decision-making depends on the interaction between automatic emotional responses and rational cognitive control. A natural emotional regulator state seems to be sleep, in particular rapid eye movement (REM) sleep. We tested the impact of daytime sleep, either with or without REM, on moral decision. Sixty participants were presented with 12 sacrificial (6 Footbridge-and 6 Trolley-type) and 8 everyday-type moral dilemmas at 9 AM and at 5 PM. In sacrificial dilemmas, participants had to decide whether or not to kill one person to save more people (utilitarian choice), and to judge how morally acceptable the proposed choice was. In everyday-type dilemmas, participants had to decide whether to endorse moral violations involving dishonest behavior. At 12 PM, 40 participants took a 120-min nap (17 with REM and 23 with NREM only) while 20 participants remained awake. Mixed-model analysis revealed that participants judged the utilitarian choice as less morally acceptable in the afternoon, irrespective of sleep. We also observed a negative association between theta activity during REM and increased self-rated unpleasantness during moral decisions. Nevertheless, moral decision did not change across the day and between groups. These results suggest that although both time and REM sleep may affect the evaluation of a moral situation, these factors did not ultimately impact the individual moral choices

Target-derived neurotrophic factors regulate the death of developing forebrain neurons after a change in their trophic requirements

Many neurons die as the normal brain develops. How this is regulated and whether the mechanism involves neurotrophic molecules from target cells are unknown. We found that cultured neurons from a key forebrain structure, the dorsal thalamus, develop a need for survival factors including brain-derived neurotrophic factor (BDNF) from their major target, the cerebral cortex, at the age at which they innervate it. Experiments in vivo have shown that rates of dorsal thalamic cell death are reduced by increasing cortical levels of BDNF and are increased in mutant mice lacking functional BDNF receptors or thalamocortical projections; these experiments have also shown that an increase in the rates of dorsal thalamic cell death can be achieved by blocking BDNF in the cortex. We suggest that the onset of a requirement for cortex-derived neurotrophic factors initiates a competitive mechanism regulating programmed cell death among dorsal thalamic neurons

Efficiency of Capital Adequacy Requirements in Reducing Risk-Taking Behavior of Tanzanian Commercial Banks

This paper intended to examine the relationship between capital and risk of Tanzanian commercial banks during the period 2009-2014 using the Two Stage Least Square (2SLS) method of estimation. The empirical findings reveal a direct relationship between capital ratios and bank risk-taking behavior implying that as the level of banks’ risk increases bank managers tend to increase the bank capital ratios so as to prevent banks from violating the regulatory minimum capital requirements.The study also found a positive relationship between regulatory pressure and capital. This positive impact shows that Tanzanians large commercial banks approaching the minimum capital requirements are inclined to improve their capital base in order to circumvent the penalties resulted from infringing  the legal requirements of keeping minimum capital ratio.The study further shows  a positive and significant association between profitability and bank capital implying that that as the profitability of banks increases they retain more earnings to raise the level of their capital. Hence, it is concluded that improvement in profitability helps banks to increase their capital ratios and prevent them from penalty associated with failure to meet minimum capital requirements. Key words: Bank Capital Adequacy, Risk-taking behavior, Regulatory Pressure, minimum capital requirements

UK Ownership and Control: A Transformational Analysis

This study presents a transformational analysis of corporate ownership and control in the UK perspective. Using a sample of 643, UK listed non-financial companies and data from the Office for National Statistics, this study reveals that, UK equity ownership has witnessed a rapid decline by major domestic institutional investors and increase in foreign ownership since 2004. It is further reported that ownership in the UK is more complex than considered by most previous ownership studies. The study reveals that, 42% of UK companies have multiple large shareholders and about 40% of the sample firms separate cash flow-rights from control-rights, confirming the presence of controlling block holders. This is contrary to the traditional understanding that UK ownership structure is dispersed. Therefore, this study contributes significantly to the literature by examining the issue of UK corporate ownership and control structures, which did not receive appropriate attention in the past in the UK context.Key words: Ownership structure, Institutional ownership, cash flow rights, control right

The Role of Agency Banking in Promoting Financial Inclusion: Descriptive Analytical Evidence from Tanzania

The objective of this paper was to assess the leverage provided by agency banking in promoting the financial inclusion in Tanzania. The study was descriptive in nature and utilized primary data collected from bank agents’ outlets in Dar es Salaam. Overall, the study was very important as it tells how financial inclusion in Tanzania has been accelerated by use of agency banking practices.The analytical results of the study show that agency banking has helped to simplify banking service by reducing distance for customers to reach service point. The study has also found that liquidity problem is not a big concern as the agents’ operation are properly scrutinized and monitored by the parent banks to avoid cash shortage crisis and minimizes security issues. It is also found in the study that agency banking costs are reported to be lower compared to those of traditional banking services. It is therefore concluded, from this study, that greater geographical coverage brought about by agency banking is a stronger promoter of financial inclusion because services follow people closer to where they leave and hence reduce the travelling costs and other hassles involved like time wasted in long queues at bank branches. Agency banking model is therefore a success as regards to deepening financial inclusion. However, because the concept of agency banking is now widespread  banks’ practice to risk management should be emphasized so as to avoid entering into agency contract with bank agents whose credentials are doubtful. In addition to that efforts have to be made to increase the number of outlets providing bank agency services so as to achieve a greater geographical coverage. Apart from that all commercial banks offering agency banking services should limit operational costs on bank agents in order to avoid the increase in cost of services to customers. Concerning security, emphasis should be put on all agency banking outlets and more frequent monitoring to be carried out as discussed in the previous section. Lastly, financial education should be provided to help customers understanding the operations of agents and assure the security of their money. Key words: Agency, banking, security, cost, Geographical coverage, financial inclusio