The Effect of Expense Reductions Following Japan's Heisei Municipal Mergers

This study investigates the reduction in expenses that was anticipated following the Japan＇s Heisei Municipal Mergers. It examines whether differences appear between merged and non-merged areas. The study analyzes the types of influence of the population size（or population growth rate）and geographical area on expense reduction as well as the mergers＇ effect on Japan＇s financial index. Results show that the population size, geographical areas, and presence of the merger influence expenditures. In addition, in the rate of change of the financial index, what population size, geographical area and presence of the merger had an influence on is confirmed. Particularly, it is so in the annual expenditure item in which the comparative expense reduction effects such as obligatory expense and assembly costs easily occurred. In short, something of effects of the socalled Heisei Municipal Mergers is fairly confirmed

On Seasonality in the East Seto Area BSI Series

This paper analyzes the nature of seasonality in quarterly observations for the East Seto Area BSI series. We begin with quantitative mesures of seasonality. Most series have at least 30 percent of their non-trend variation mopped up by seasonal dummy variables alone. We turn to tests of the order of integration. Unit root tests are applied to determine whether the seasonal component in each variable exhibits stochastic nonstationality. 36 series are found to have a seasonal unit root only and the remaining series are almost stationary. This implies that the the ΔΔ(4) transform, frequently implicitly embodied in any seasonal adjustment program, leads to overdifferencing

The Acquisition of Finance Knowledge and Optimization of a Portfolio

本稿では，金融資産管理シミュレーション・ゲームを実施して得たデータを基に，家計の選択するポートフォリオの効率性について検証を行う。資産選択の効率性を論じる指標として，平均分散アプローチによって導出した効率的フロンティアからの距離を用いる。Probit分析から得られた結果と，Panel Probit 分析から得られた結果は概ね整合的である。Panel Probit 分析の結果から示唆されることは，ゲーム参加者のうち，新たに習得した知識をより理解している者，過去の投資資産数の多い者，今後，株式市場が好転すると予測している者のポートフォリオの効率性は上昇し，資産選択の直前の株価の上昇は，ポートフォリオの効率性を低下させることである。また，ゲーム参加者の過去のポートフォリオの運用成績は，ポートフォリオの効率性に影響を与えない。In this paper, we examine the efficiency of portfolios on the basis of the simulation data of the portfolio management simulation game. The distance from the efficient frontier derived from the mean−variance portfolio theory is employed as the index of efficiency to select the assets. The results of the Probit analysis are consistent with the results derived from the Binary Panel Probit model analysis. The latter results suggest that the portfolio selected by one who understands new knowledge, possesses several types of assets, and predicts an improvement in the stock market, is efficient. Furthermore, a rise in the price index of stocks prior to portfolio selection decreases the efficiency of a portfolio. The previous portfolio performance does not affect the efficiency of the portfolio

Biofuel and succinic acid production by valuing soybean hull, using a classical and a novel alternative (imidazole) as pretreatment methods

Orientadora: Profa. Dra. Adenise Lorenci WoiciechowskiCoorientador: Prof. Dr. Carlos Ricardo SoccolTese (doutorado) - Universidade Federal do Paraná, Setor de Ciências Biológicas, Programa de Pós-Graduação em Engenharia de Bioprocessos e Biotecnologia. Defesa : Curitiba, 09/12/2022Inclui referências: p. 93-113Resumo: A soja é uma das mais importantes fontes vegetais de proteína e óleo do mundo, com grande aplicação na produção de alimentos, ração animal e biodiesel. A casca da soja é o principal subproduto gerado no processamento da soja, representando cerca de 8% do peso seco do grão. Neste trabalho a casca da soja foi submetida a uma hidrólise ácida (H2SO4), no qual foram determinados os valores ótimos de concentração de ácido e tempo de reação a uma temperatura constante. O hidrolisado foi utilizado como meio principal, suplementado com dois outros resíduos (leite de levedura e melaço de cana) para crescimento da levedura Rhodosporidium toruloies. Não foram adicionados nutrientes comerciais ao meio de cultivo. Após o desenvolvimento da levedura, o óleo intracelular foi extraído e seu perfil lipídico foi determinado. No segundo pré-tratamento foi utilizado o imidazol, uma nova alternativa sustentável para o tradicional pretratamento de biomassa lignocelulosica. Foram avaliados a melhor condição de temperatura e tempo de processo. As características do material não tratado e pré-tradado com este reagente foi analisado (espectroscopia no infravermelho com transformada de Fourier (FTIR), difração de raio-X (XRD) e microscopia eletrônica de varredura (SEM)). Após essa etapa, a fração rica em celulose foi submetida à hidrólise enzimática seguida de sua fermentação, as leveduras utilizadas foram Saccharomyces cerevisiae e a Pichia stipitis e as biomoléculas, etanol e ácido succínico, foram quantificadas.Abstract: Soybean is one of the most important vegetal sources of protein and oil in the world with large applications to food, feed and biodiesel production. The soybean hull is the major byproduct generated by soybean processing, which represents around 8% of whole weight grain. In this work, the soybean hull was submitted to acid hydrolysis (H2SO4), in which the optimal values of acid concentration and reaction time were determined, the temperature maintained constant. The hydrolyzed was used as the main growth medium, supplemented with two other residues (surplus yeast and sugarcane molasses) for Rhodosporidium toruloides growth. It was not added any commercial nutrients in the growth medium. After development of the yeast, the intracellular oil was extracted and its lipids profile was determined. In the second pretreatment was utilized the imidazole, an alternative sustainable for the traditional lignocellulosic biomass pretreatment. The temperature and process time conditions were evaluated. The characteristics and composition of the untreated and pretreated material were analyzed (Fourier-transformed infrared (FTIR) spectroscopy, X-ray diffraction (XRD) and scanning electron microscopy (SEM)). After this stage, the cellulose-rich fraction was submitted to enzymatic hydrolysis followed by fermentation, the yeasts used were Saccharomyces cerevisiae and Pichia stipitis and the biomolecules, ethanol and succinic acid, were quantified

Pretreatment with Epidermal Growth Factor Enhances Naked Plasmid DNA Transfer onto Gastric Serosal Surface in Mice

We have developed a simple administration method, which is gastric serosal surface instillation of naked plasmid DNA (pDNA) in experimental animals. The purpose of this study was to improve gastric gene transfer efficiency by pre-treatment with a macropinocytosis enhancer, such as fetuin or epidermal growth factor (EGF), in mice. A series of concentrations of fetuin were instilled onto gastric serosal surface prior to instillation of naked pDNA in mice; however, fetuin did not improve transgene expression in the stomach 6 h after administration of pDNA. EGF also did not affect transgene expression in the stomach when pDNA was instilled immediately after EGF instillation. On the other hand, when pDNA was instilled onto gastric serosal surface 24 h after EGF treatment, transgene expression in the stomach was significantly improved by 2.6-fold. In addition, transgene-positive cells were increased 5.3-fold by EGF pre-treatment. High transgene expression in the stomach lasted for 48 h in the EGF pre-treatment group in comparison with that in the no pre-treatment group. These findings are valuable to develop an effective method of in vivo gene transfer to the stomach