Foreign Institutional Ownership and the Speed of Leverage Adjustment: International Evidence

Employing a large sample of 7246 firms across 38 economies from 2000 to 2013, we show a positive relation between foreign institutional ownership (FIO) and firms’ speed of leverage adjustment. This positive relation is concentrated for over-leveraged firms that need to decrease financial leverage to rebalance their capital structures. We validate our findings using a 2SLS regression and a DiD estimation to exploit the exogenous variations in FIO generated by the inclusion of MSCI membership and the passage of the JGTRRA. These results suggest that foreign institutional investors play an important monitoring role in mitigating agency conflicts between shareholders and managers. Overall, this paper lends support to the dynamic trade-off theory

Geoscience after IT: Part L. Adjusting the emerging information system to new technology

Coherent development depends on following widely used standards that respect our vast legacy of existing entries in the geoscience record. Middleware ensures that we see a coherent view from our desktops of diverse sources of information. Developments specific to managing the written word, map content, and structured data come together in shared metadata linking topics and information types

ORIGIN AND PREVALENCE OF HUMAN T-LYMPHOTROPIC VIRUS TYPE 1 (HTLV-1) AND TYPE 2 (HTLV-2) AMONG INDIGENOUS POPULATIONS IN THE AMERICAS

Human T-lymphotropic virus type 1 (HTLV-1) is found in indigenous peoples of the Pacific Islands and the Americas, whereas type 2 (HTLV-2) is widely distributed among the indigenous peoples of the Americas, where it appears to be more prevalent than HTLV-1, and in some tribes of Central Africa. HTLV-2 is considered ancestral in the Americas and is transmitted to the general population and injection drug users from the indigenous population. In the Americas, HTLV-1 has more than one origin, being brought by immigrants in the Paleolithic period through the Bering Strait, through slave trade during the colonial period, and through Japanese immigration from the early 20th century, whereas HTLV-2 was only brought by immigrants through the Bering Strait. The endemicity of HTLV-2 among the indigenous people of Brazil makes the Brazilian Amazon the largest endemic area in the world for its occurrence. A review of HTLV-1 in all Brazilian tribes supports the African origin of HTLV-1 in Brazil. The risk of hyperendemicity in these epidemiologically closed populations and transmission to other populations reinforces the importance of public health interventions for HTLV control, including the recognition of the infection among reportable diseases and events

Geoscience after IT: Part H. Familiarization with managing the information base

The geoscience record stores information for later reuse. The management of bibliographic, cartographic and quantitative information have different backgrounds. All involve: deciding what to keep; structuring the record so that information can be found when needed; maintaining search tools, indexes and abstracts; defining the content by reference to metadata. The current approaches to managing the literature, spatial information and quantitative data may be subsumed in a more comprehensive object-oriented model of the information base

El que pestañea, pierde : pieza de costumbres andaluzas en verso

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