The board of directors and dividend policy: the effect of gender diversity

In this article, we aim to study the impact on dividends policy of gender diversity on the board of directors (hereinafter BD). We hypothesize that the proportion of women directors, the proportion of independent, institutional, and executive female directors, and the percentage of shares held by female directors on BD, have an impact on the dividends policy of Spanish companies. Our findings, analyzing the whole sample, show that the proportion of female directors and shares held by female directors are positively associated with dividend payout, while the percentage of institutional female directors has a negative impact. The percentage of independent and executive female directors has no effect on dividend payout. When companies with losses are removed from the sample, the findings report that the percentage of female directors on BD and the percentage of independent female directors impact positively on dividend policy, while the percentage of institutional and executive female directors has a negative effect. The proportion of shares held by female directors on BD does not have an effect on dividend payout when only companies with profits are examined. Thus, the results confirm that gender diversity has an influence on dividend payout, so the existing legislation should encourage more participation by women in governing bodies. Our evidence supports the Act for Effective Equality between Women and Men, which establishes that listing companies have to achieve a quota of 40% of women in decision-making bodies by 2015

Final state interaction effects in neutrino-nucleus quasielastic scattering

We consider the charged-current quasielastic scattering of muon neutrinos on an Oxygen 16 target, described within a relativistic shell model and, for comparison, the relativistic Fermi gas. Final state interactions are described in the distorted wave impulse approximation, using both a relativistic mean field potential and a relativistic optical potential, with and without imaginary part. We present results for inclusive cross sections at fixed neutrino energies in the range $E_\nu =$ 200 MeV - 1 GeV, showing that final state interaction effects can remain sizable even at large energies.Comment: 4 pages, 4 figures; poster session of the Third International Workshop on Neutrino-Nucleus Interactions in the Few GeV Region (NuInt04), Gran Sasso (Italy), March 17-21, 2004; to appear in the proceeding

Variation in Sensitivity of Different Grapevine Genotypes to Erysiphe necator Growing under Unfavourable Climatic Conditions

This paper reports the susceptibility to powdery mildew of 41 grapevine genotypes growing in the north and northwest of Spain over a three-year period. Although the humid climate of these vine-growing areas is not particularly favourable to the development of this disease, serious damages appears in some years when dry weather alternates with times of some rain. All the examined genotypes belonged to the collection of the Misión Biológica de Galicia (CSIC) (Pontevedra, Galicia, Spain). The incidence and severity of powdery mildew were determined on leaves three weeks after the onset of flowering and on clusters at harvest. The values for both variables were smaller than those recorded for other fungal diseases, although great differences in susceptibility between the different genotypes were observed. The most susceptible was Castañal (recently included in the Spanish Registry of Commercial Varieties), a genotype native to the O Rosal subzone of the Rias Baixas denomination of origin area. The present results could help viticulturalists grow different grapevine genotypes more successfully in regions with climatic conditions similar to those where the study was undertaken

Corporate social and environmental disclosure as a sustainable development tool provided by board sub-committees: Do women directors play a relevant moderating role?

he aim of this research is to examine the impact of three audit committee characteristics on corporate social and environmental responsibility (CSR) disclosure: the existence of an audit committee, audit committee independence, and audit committee financial expertise. Moreover, this research analyzes the moderating effect of board gender diversity between these audit committees' attributes and CSR reporting. The results of analyzing 13,178 firm-year observations of non-financial companies show that the presence of an audit committee and audit committee financial expertise are positively associated with CSR disclosure. However, a higher proportion of non-executive directors in audit committees has a negative effect on the disclosure of CSR information. These findings suggest that some audit committees' features play an important role in ensuring the reporting of environmental, social, and economic information. Our evidence also indicates that the presence of female directors on boards increases the positive impact of financial expert membership of audit committees on CSR disclosure, while women directors moderate any negative effect of the percentage of independent directors on audit committees on CSR reporting by increasing the latter. In addition, female directors moderate the positive impact of the existence of an audit committee on the disclosure of CSR information by reducing the latter

Las tecnologías de la información y las comunicaciones en la enseñanza superior española: factores explicativos del uso del campus virtual

En este trabajo se aborda el estudio empírico de los factores que afectan al uso del campus virtual por parte de los estudiantes de Administración y Dirección de Empresas de la Universidad Católica San Antonio. Para el análisis nos hemos basado en el modelo de aceptación de tecnología de Davis (1989). Los resultados obtenidos confirman lo que dicho modelo propone: la utilidad y la facilidad de uso percibida afectan positivamente a la actitud hacia esta herramienta tecnológica. Además, la actitud y la obligatoriedad percibida influyen de manera positiva en el uso de la misma. Se ha comprobado también la influencia que tienen en el uso del campus virtual algunas variables de carácter socioeconómico. Nuestro estudio nos permite concluir que el sexo, la edad y la situación laboral dan lugar a cambios en los factores determinantes de la conducta analizada. Las conclusiones del trabajo permiten no solo conocer de una forma más completa qué factores afectan a la percepción, actitudes y comportamientos de los estudiantes universitarios hacia el campus virtual, sino que permiten también plantear propuestas para conseguir una implantación más efectiva de esta herramienta tecnológica en la universidad

Sliding wear resistance of biomorphic SiC ceramics

Biomorphic SiC ceramics were fabricated from four different wood precursors and their Knoop hardness and sliding wear resistance when sliding against a Si3N4 ball in air were studied. Tribological experiments were performed using a pin on disk apparatus, under normal loads of 2 and 5 N, at a sliding speed of 100 mm/s. The effects of specimen porosity and microstructure on measured wear were evaluated. A commercial sintered silicon carbide ceramic was also tested for comparison. Small differences in friction coefficient comparable to monolithic SiC ceramics were obtained. Several concurrent wear mechanisms are taking place: microfracture, plastic deformation in the Si phase and oxidation of the Si and/or SiC phase. The presence of an oxide tribolayer was assessed using fluorescence microscopy. Wear rates were found to scale with SiC content and depend on residual porosity in the composite.Peer reviewe

Uso de metilprednisolona versus diclofenaco en el control de la inflamación y el trismo tras la cirugía del tercer molar inferior

Objetivo: Comparar el efecto sobre la inflamación y el trismo de la metilprednisolona (corticoide) versus diclofenaco (antiinflamatorio no esteroideo-AINE-) tras la cirugía del tercer molar inferior. Diseño del estudio: Estudio prospectivo sobre 73 pacientes sometidos a la extracción quirúrgica de los terceros molares inferiores. Fueron divididos de forma aleatoria en dos grupos: De diclofenaco y de metilprednisolona. Se cumplimentó una ficha donde se hizo constar los datos epidemiológicos y clínicos preoperatorios y postoperatorios en relación a la inflamación y el trismo (tres medidas faciales y apertura bucal). Se usó el programa estadístico BMDP para hacer un amplio tratamiento de los datos. Resultados: A las 24 horas el grupo tratado con diclofenaco presentaba mayor inflamación en una de las medidas faciales (p<0.05), no así en las otras dos medidas. El trismo se comportó de forma similar en ambos grupos. Conclusiones: No se encontraron diferencias en el trismo según el antiinflamatorio usado y aunque la inflamación fue algo menor en el grupo de experimentación tratado con corticoides la diferencia no fue tan significativa como para justificar su uso.Objective: To compare the efficacy of methylprednisolone (corticoid)versus diclofenac (nonsteroidal anti-inflammatory -NSAID-) in the treatment of inflammation and trismus after the surgical removal of lower third molars. Study design: Prospective study on 73 patients for the surgical removal of their lower third molars. These patients were separated in two groups at ramdom: the diclofenac group and the methylprednisolone group. A record card was filled in with preoperative and postoperative epidemiological and clinic data about inflammation and trismus (three facial measures and mouth opening). In order to make a broad study of data, BMDP program was used for statistics. Results: 24 hours after surgery, patients in the diclofenac group showed a more severe inflammation in one of the facial measurements (p<0.05). Trismus was very similar in both groups. Conclusions: There were no differences in trismus depending on the antiinflammatory used. Patients in the corticoid group showed less inflammation but the difference was not as important as to justify their use

Dense nanostructured zirconia compacts obtained by colloidal filtration of binary mixtures

As starting materials two commercial nanosized zirconias doped with 3 mol% of Y 2O 3 were used: a powder of about 100 nm (TZ3YE, Tosoh, Japan) and a colloidal suspension of about 15 nm (Mel Chemicals, UK). Colloidal stability in water was studied for both zirconias in terms of zeta potential as a function of deflocculant concentration and pH. Concentrated suspensions were prepared by dispersing the powder in the colloidal suspension to solids loadings ranging from 5 to 30 vol.% using a sonication probe to achieve dispersion. The rheological behavior was optimized in terms of solids content, deflocculant content and sonication time. Optimized suspensions with up to 25 vol.% solids showed a nearly Newtonian behavior and extremely low viscosities and maintain stable for long times (days) which is an important drawback of conventional nanoparticle suspensions. Samples obtained by slip casting in plaster moulds were used for dynamic sintering studies and dense, nanostructured specimens were obtained at temperatures of 1300-1400°C.This work has been supported by Spanish Ministry of Science and Innovation (Projects MAT2009-14144-C03-02 and MAT2009-14369-C02-01). R. Moreno thanks to Universidad Politecnica de Valencia for the concession of a grant in the frame of its Programme of Support to R + D (PAID-02-11, R-1752).Benavente Martínez, R.; Salvador Moya, MD.; Alcázar, M.; Moreno, R. (2012). Dense nanostructured zirconia compacts obtained by colloidal filtration of binary mixtures. Ceramics International. 38(3):2111-2117. https://doi.org/10.1016/j.ceramint.2011.10.051S2111211738

La caracterización molecular y ampelográfica de clones de "Albariño", "Savagnin Blanc" y "Caíño Blanco" (Vitis vinifera L.) demuestra que son cultivares diferentes

The grapevine cultivar "Albariño" is one of the oldest grown in the vine-growing areas of North-Western Spain and Northern Portugal. Since recognition of Origin Denomination status for the Rías Baixas region (the coast of Western Galicia, Spain) in 1987, the economic importance of this cultivar has increased, and its grapes are now among the most expensive in Spain. The area occupied by "Albariño" vines in this region is increasing every year, and the wines made from its grapes are gaining international recognition. These events, plus the fact that "Albariño" was little known outside its traditional growing area, have led to speculation about its origin and the existence of synonyms. Misnames of "Albariño" have included "Savagnin Blanc" and "Caíño Blanco". The present work compares "Albariño", "Savagnin Blanc" and "Caíño Blanco" ampelographically (i.e., it compares shoot, leaf, grape cluster, berry and seed characteristics) and molecularly using microsatellite markers. The results show that they are in fact three different cultivars providing a complete description. For "Caíño Blanco", there is little previously reported information.El "Albariño" es uno de los cultivares más antiguos de la zona vitícola del Noroeste de España y norte de Portugal. Desde la aprobación en el año 1987 de la Denominación de Origen Rías Baixas, este cultivar es el de mayor valor económico de esta zona vitícola, y su uva alcanza uno de los precios más elevados de España. Su superficie de cultivo, dentro de esta Denominación de Origen, se multiplica año tras año, y sus vinos adquieren fama internacional. Todo ello, unido a que era un cultivar poco conocido fuera de esta pequeña zona vitícola española, ha llevado a la aparición en los últimos años de diversas especulaciones sobre su origen, y a la atribución de diferentes sinonimias. Entre los nombres erróneamente atribuidos al "Albariño" se encuentran "Savagnin Blanc" y "Caíño Blanco". En el presente trabajo se hace un estudio comparativo de los tres cultivares a nivel ampelográfico (brote, hoja, racimo, baya, semilla) y a nivel molecular por medio de marcadores microsatélite. Los resultados demuestran que "Albariño", "Savagnin Blanc" y "Caíño Blanco" son cultivares distintos, proporcionando una completa descripción de cada uno. De uno de ellos, "Caíño Blanco", existe muy poca información previa

The performance of three ordination methods

The performance of robust principal component analysis (RPCA), detrended correspondence analysis (DCA) and non-metric multidimensional scaling (NMDS) with two demersal fish data sets were assessed in terms of their stability to bootstrap-generated sample variation and the method’s ability to reflect a well-known depth gradient. Stability was assessed for both species and site orderings and configurations, using scaled rank variance (SRV) and Spearman (q) and Procrustes correlations (t0). The NMDS site and species orderings showed the highest stability. DCA performed best in terms of site ordination stability, but NMDS performed best in terms of species ordination stability. In terms of matching the expected ecological variation, NMDS was the most sensitive method for the wider-depth gradient data and DCA was the most sensitive for the narrower-depth gradient data. According to the sensitivity and informative power criteria associated with the stability assessment, t0 was the best methodological approach for site ordinations, and SRV for species ordinations