Explaining the money demand of non-financial corporations in the Euro area: A macro and a micro view

This paper analyses euro area non-financial corporations (NFC) money demand, both from a macro and a microeconomic point of view. At a macro level, money holdings are modelled as a function of real gross added value, the price level, the long-term interest rate on bank lending to non-financial corporations, the own rate of return on M3 and the real capital stock of the NFC sector. The results indicate that NFCs’ money holdings adjust quickly when deviations from their long-run level are registered, and that the large increase observed recently in NFCs’ money holdings has been driven by changes in their fundamentals and hence they stand in line with their long-run equilibrium level. The disaggregated analysis also shows that cash holdings are linked to balance-sheet ratios (such as non-liquid short term assets, tangible assets or indebtedness) and other variables such as the firm’ cash flow, its volatility or the size of the firm, which cannot be taken into account in the macro analysis. Likewise, results indicate that the main drivers of the increase in NFC cash holdings in the last years have been cyclical factors, captured by gross-added value and the cash-flow respectively. Variations in the opportunity cost of holding money, have also contributed to explain M3 developments but more modestly than at the end of the nineties, when its increase contributed negatively to cash accumulation. JEL Classification: E41, C23, C32, D21cointegrated VARs, Money demand, panel estimation

Comparing galaxy populations in compact and loose groups of galaxies III. Effects of environment on star formation

Aims. This paper is part of a series in which we systematically compare the properties of galaxies in compact groups, loose groups, and the field. In this paper we focus our study on the age and star formation in galaxies. Methods. For galaxies in selected samples of compact groups, loose groups, and field galaxies, we compare the distributions of Dn (4000) as an age indicator and the specific star formation rate as an indicator of on-going star formation. We analyse the dependence of these parameters on galaxy type and stellar mass and, for group galaxies, their dependence on the dynamic state of the system. We study the relative fraction of galaxies dominated by old stellar populations as a function of galaxy stellar mass. We perform a similar analysis for galaxies that have high specific star formation rates. Results. Galaxies in compact groups have, on average, older stellar populations than their loose-group or field counterparts. Early-type galaxies in compact groups formed their stars and depleted their gas content more rapidly than in the other environments. We have found evidence of two populations of late-type galaxies in dynamically old compact groups: one with normal specific star formation rates and another with markedly reduced star formation. Conclusions. Processes that transform galaxies from star forming to quiescent act upon galaxies faster and more effectively in compact groups. The unique characteristics of compact groups make them an extreme environment for galaxies, where the transition to quiescence occurs rapidly.Fil: Coenda, Valeria. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Córdoba. Instituto de Astronomía Teórica y Experimental. Universidad Nacional de Córdoba. Observatorio Astronómico de Córdoba. Instituto de Astronomía Teórica y Experimental; ArgentinaFil: Muriel, Hernan. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Córdoba. Instituto de Astronomía Teórica y Experimental. Universidad Nacional de Córdoba. Observatorio Astronómico de Córdoba. Instituto de Astronomía Teórica y Experimental; ArgentinaFil: Martinez Atencio, Hector Julian. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Córdoba. Instituto de Astronomía Teórica y Experimental. Universidad Nacional de Córdoba. Observatorio Astronómico de Córdoba. Instituto de Astronomía Teórica y Experimental; Argentin

Essentializing the binary self: individualism and collectivism in cultural neuroscience

Within the emerging field of cultural neuroscience (CN) one branch of research focuses on the neural underpinnings of “individualistic/Western” vs. “collectivistic/Eastern” self-views. These studies uncritically adopt essentialist assumptions from classic cross-cultural research, mainly following the tradition of Markus and Kitayama (1991), into the domain of functional neuroimaging. In this perspective article we analyze recent publications and conference proceedings of the 18th Annual Meeting of the Organization for Human Brain Mapping (2012) and problematize the essentialist and simplistic understanding of “culture” in these studies. Further, we argue against the binary structure of the drawn “cultural” comparisons and their underlying Eurocentrism. Finally we scrutinize whether valuations within the constructed binarities bear the risk of constructing and reproducing a postcolonial, orientalist argumentation pattern

Weiser Carrots and Sticks: Motivation Beyond Money at the Shakedown Café

It is generally assumed that monetary incentivization is the most effective means of motivating organizationally-beneficial behaviors. Individuals, under this line of thought, pursue their own objective self-interest above all else. However, evidence is being uncovered that indicates that human motivation may be a much more complicated facet of the human psyche. The purpose of this study is to examine the deeper underpinnings that drive people work that might lie beyond financial rewards. In order to do this, the Shakedown Café, a student-run restaurant on Pitzer College’s campus, will be examined. This specific organization is of particular interest because it does not have the ability to reward employees in the manner that most businesses are able to employ. In looking at the Shakedown, the author\u27s direct experiences while working in the restaurant, observations, a variety or intra-organizational correspondences, and modern organizational behavior theories will be utilized. The findings of this research indicate that the human drives to learn, bond with others, and defend oneself and one\u27s surroundings are all just as important aspects of motivation as is the drive to acquire money. Within the organization of interest, these drives manifest themselves through organizational purpose, group learning, and shared leadership. From this example of the Shakedown Café, it is suggested that proliferation of financial rewards in today\u27s organizations may well be an outdated model of motivating which could be prohibiting organizations and the people within them from reaching their full potentials

Symbolic computations of non-linear observability

Date of Acceptance: 22/05/2015 ACKNOWLEDGEMENTS E.B.M. and M.S.B. acknowledge the Engineering and Physical Sciences Research Council (EPSRC), Grant No. EP/I032608/1. This work was done during a stay of E.B.M. at CORIA (Rouen) and a stay of C.L. at ICSMB (Aberdeen).Peer reviewedPublisher PD

Consciousness, time and science epistemology: an existentialist approach

In this work, the author presents an updated state-of-the-art study about the fundamental concept of time, integrating approaches coming from all branches of human cognitive disciplines. The author points out that there is a rational relation for the nature of time (arché) coming from human disciplines and scientific ones, thus proposing an overall vision of it for the first time. Implications of this proposal are shown providing an existentialist approach to the meaning of “time” concept

A mathematical assessment on the ontology of time.

In this work, we develop and propose an ontological formal definition of time, based on a topological analysis of the formal mathematical description of time, coming from approaches to both quantum theories and Relativity; thus, being compatible with all physical epistemological theories. We find out a mathematical topological invariability, thus establishing a rigorous definition of time, as fundamental generic magnitude. Very preliminary analysis of physical epistemology is provided; likely highlighting a path towards a final common vision between Quantum and Cosmology ontology and human feeling of time

A symbolic network-based nonlinear theory for dynamical systems observability

EBM and MSB acknowledge the Engineering and Physical Sciences Research Council (EPSRC), grant Ref. EP/I032608/1. ISN acknowledges partial support from the Ministerio de Economía y Competitividad of Spain under project FIS2013-41057-P and from the Group of Research Excelence URJC-Banco de Santander.Peer reviewedPublisher PD

Is Lactate an Oncometabolite? Evidence Supporting a Role for Lactate in the Regulation of Transcriptional Activity of Cancer-Related Genes in MCF7 Breast Cancer Cells.

Lactate is a ubiquitous molecule in cancer. In this exploratory study, our aim was to test the hypothesis that lactate could function as an oncometabolite by evaluating whether lactate exposure modifies the expression of oncogenes, or genes encoding transcription factors, cell division, and cell proliferation in MCF7 cells, a human breast cancer cell line. Gene transcription was compared between MCF7 cells incubated in (a) glucose/glutamine-free media (control), (b) glucose-containing media to stimulate endogenous lactate production (replicating some of the original Warburg studies), and (c) glucose-containing media supplemented with L-lactate (10 and 20 mM). We found that both endogenous, glucose-derived lactate and exogenous, lactate supplementation significantly affected the transcription of key oncogenes (MYC, RAS, and PI3KCA), transcription factors (HIF1A and E2F1), tumor suppressors (BRCA1, BRCA2) as well as cell cycle and proliferation genes involved in breast cancer (AKT1, ATM, CCND1, CDK4, CDKN1A, CDK2B) (0.001 < p < 0.05 for all genes). Our findings support the hypothesis that lactate acts as an oncometabolite in MCF7 cells. Further research is necessary on other cell lines and biopsy cultures to show generality of the findings and reveal the mechanisms by which dysregulated lactate metabolism could act as an oncometabolite in carcinogenesis