The Social Capital of Venture Capitalists and Its Impact on the Funding of Start-Up Firms

How does the social capital of venture capitalists (VCs) affect the funding of start-ups? Extant entrepreneurship literature conceptualizes a substitute effect between the social and financial capital that new firms attain from their investors. On the contrary, by building on the rich social capital literature, we hypothesize a positive effect of VCs’ social capital, derived from past syndication, on the amount of money that start-ups receive. Specifically, we argue that both structural aspects of VCs’ social network, such as the number of connections and the spanning of structural holes, and relational aspects, such as the diversity of network partners’ attributes, provide VCs with superior access to information about current investment objects and opportunities to leverage them in the future, increasing their willingness to invest in these firms. Our empirical results, derived from a novel dataset containing more than 5,000 funding rounds in the Internet and IT sector, strongly confirm our hypotheses. Both structural and relational attributes of VCs’ syndication networks have a significant influence on the funds received by start-up firms, highlighting the importance of a social capital perspective on new venture funding. We discuss the implications of our findings for theories of venture capital and entrepreneurship, showing that the role and effect of VCs’ social capital on start-up firms is much more complex than previously argued in the literature

Metal-insulator transition in EuO

It is shown that the spectacular metal-insulator transition in Eu-rich EuO can be simulated within an extended Kondo lattice model. The different orders of magnitude of the jump in resistivity in dependence on the concentration of oxygen vacancies as well as the low-temperature resistance minimum in high-resistivity samples are reproduced quantitatively. The huge colossal magnetoresistance (CMR) is calculated and discussed

Human well-being impacts of terrestrial protected areas

© 2013 Pullin et al.; licensee BioMed Central Ltd. Background: Establishing Protected Areas (PAs) is among the most common conservation interventions. Protecting areas from the threats posed by human activity will by definition inhibit some human actions. However, adverse impacts could be balanced by maintaining ecosystem services or introducing new livelihood options. Consequently there is an ongoing debate on whether the net impact of PAs on human well-being at local or regional scales is positive or negative. We report here on a systematic review of evidence for impacts on human well-being arising from the establishment and maintenance of terrestrial PAs. Methods: Following an a priori protocol, systematic searches were conducted for evidence of impacts of PAs post 1992. After article title screening, the review was divided into two separate processes; a qualitative synthesis of explanations and meaning of impact and a review of quantitative evidence of impact. Abstracts and full texts were assessed using inclusion criteria and conceptual models of potential impacts. Relevant studies were critically appraised and data extracted and sorted according to type of impact reported. No quantitative synthesis was possible with the evidence available. Two narrative syntheses were produced and their outputs compared in a metasynthesis. Results: The qualitative evidence review mapped 306 articles and synthesised 34 that were scored as high quality. The quantitative evidence review critically appraised 79 studies and included 14 of low/medium susceptibility to bias. The meta-synthesis reveals that a range of factors can lead to reports of positive and negative impacts of PA establishment, and therefore might enable hypothesis generation regarding cause and effect relationships, but resulting hypotheses cannot be tested with the current available evidence. Conclusions: The evidence base provides a range of possible pathways of impact, both positive and negative, of PAs on human well-being but provides very little support for decision making on how to maximise positive impacts. The nature of the research reported to date forms a diverse and fragmented body of evidence unsuitable for the purpose of informing policy formation on how to achieve win-win outcomes for biodiversity and human well-being. To better assess the impacts of PAs on human well-being we make recommendations for improving research study design and reporting

The Giant Inflaton

We investigate a new mechanism for realizing slow roll inflation in string theory, based on the dynamics of p anti-D3 branes in a class of mildly warped flux compactifications. Attracted to the bottom of a warped conifold throat, the anti-branes then cluster due to a novel mechanism wherein the background flux polarizes in an attempt to screen them. Once they are sufficiently close, the M units of flux cause the anti-branes to expand into a fuzzy NS5-brane, which for rather generic choices of p/M will unwrap around the geometry, decaying into D3-branes via a classical process. We find that the effective potential governing this evolution possesses several epochs that can potentially support slow-roll inflation, provided the process can be arranged to take place at a high enough energy scale, of about one or two orders of magnitude below the Planck energy; this scale, however, lies just outside the bounds of our approximations.Comment: 31 pages, 4 figures, LaTeX. v2: references added, typos fixe

Enhanced Symmetries in Multiparameter Flux Vacua

We give a construction of type IIB flux vacua with discrete R-symmetries and vanishing superpotential for hypersurfaces in weighted projective space with any number of moduli. We find that the existence of such vacua for a given space depends on properties of the modular group, and for Fermat models can be determined solely by the weights of the projective space. The periods of the geometry do not in general have arithmetic properties, but live in a vector space whose properties are vital to the construction.Comment: 32 pages, LaTeX. v2: references adde

Case Report of Puffinosis in a Manx Shearwater (Puffinus puffinus) Suggesting Environmental Aetiology

Publication history: Accepted - 1 December 2022; Published online - 7 December 2022Puffinosis is a disease of a range of seabirds characterised by dorsal and ventral blistering of their webbed feet, conjunctivitis, dry necrosis, leg spasticity, head shaking, loss of balance, tremors, and death. It is associated with Manx shearwaters (Puffinus puffinus), frequently affecting chicks within their underground nesting burrows. The aetiology of the disease is unclear but has been attributed to a type-2 coronavirus associated with Neotombicula mites as a potential vector. However, there is some uncertainty given potential laboratory contamination with mouse hepatitis virus and failure to fulfil Koch’s postulates, with birds injected with isolates remaining healthy. We describe a detailed case report of puffinosis in a Manx Shearwater covering necropsy, histology, bacteriology, and metagenomics including viral sequencing. We found no evidence of viral infection or parasites. Our results are consistent with an entirely environmental aetiology, with caustic faecal ammonia in damp nesting burrows causing conjunctivitis and foot dermatitis breaking the skin, allowing common soil bacteria (i.e., Flavobacterium, Staphylococcus and Serratia spp., Clostridia perfringens and Enterococcus faecalis) to cause opportunistic infection, debilitating the bird and leading to death. A similar condition (foot pad dermatitis or FPD) has been reported in broiler chickens, attributed to caustic faeces, high humidity, and poor environmental conditions during indoor rearing, preventable by adequate ventilation and husbandry. This is consistent with puffinosis being observed in Shearwater nesting burrows situated in tall, dense, vegetation (e.g., bracken Pteridium aquilinum) but rarely reported in burrows situated in well-ventilated, short coastal grasslands. This proposed environmental aetiology accounts for the disease’s non-epizootic prevalence, spatial variation within colonies, and higher frequency in chicks that are restricted to nesting burrows.Niamh Esmonde was supported by a UKRI QUADRAT Doctoral Training Programme (DTP) studentship, grant number NE/S007377/1 funded by the Natural Environment Research Council (NERC). The Agri-Food and Biosciences Institute (AFBI) funded the costs of necropsy, histology, bacteriology, parasitology, and metagenomics as part of the Queen’s–AFBI Alliance. Jignasha Patel, who conducted the metagenomics, was funded by the Research Leaders 2025 Programme cofounded by Teagasc and the European Union Horizon 2020 Research and Innovation Programme under a Marie Skłodowska-Curie grant (grant 754380). Paris Jaggers was supported by a UKRI NERC scholarship (grant NE/S007474/1)

Comparison of the structure and flexural properties of Moso, Guadua and Tre Gai bamboo

Bamboo is an underutilized resource widely available in countries with rapidly developing economies. Structural bamboo products, analogous to wood products, allow flexibility in the shape and dimensions of bamboo structural members. Here, the ultrastructure, microstructure, cell wall properties and flexural properties of three species of bamboo (Moso, Guadua and Tre Gai) are compared. At a given density, the axial modulus of elasticity of Guadua is higher than that of Moso or Tre Gai, which are similar; ultrastructural results suggest that Guadua has a higher solid cell wall stiffness. At a given density, their moduli of rupture are similar.National Science Foundation (U.S.) (OISE-1258574

Early above- and below-ground responses of subboreal conifer seedlings to various levels of deciduous canopy removal

We examined the growth of understory conifers, following partial or complete deciduous canopy removal, in a field study established in two regions in Canada. In central British Columbia, we studied the responses of three species (Pseudotsuga menziesii var. glauca (Beissn.) Franco, Picea glauca (Moench) Voss x Picea engelmannii Parry ex Engelm., and Abies lasiocarpa (Hook.) Nutt.), and in northwestern Quebec, we studied one species (Abies balsamea (L.) Mill.). Stem and root diameter and height growth were measured 5 years before and 3 years after harvesting. Both root and stem diameter growth increased sharply following release but seedlings showed greater root growth, suggesting that in the short term, improvement in soil resource capture and transport, and presumably stability, may be more important than an increase in stem diameter and height growth. Response was strongly size dependent, which appears to reflect greater demand for soil resources as well as higher light levels and greater tree vigour before release for taller individuals. Growth ratios could not explain the faster response generally attributed to true fir species or the unusual swift response of spruces. Good prerelease vigour of spruces, presumably favoured by deciduous canopies, could explain their rapid response to release

Current state of quality of life and patient-reported outcomes research

The 5th EORTC Quality of Life in Cancer Clinical Trials Conference presented the current state of quality of life and other patient-reported outcomes (PROs) research from the perspectives of researchers, regulators, industry representatives, patients and patient advocates and health care professionals. A major theme was the assessment of the burden of cancer treatments, and this was discussed in terms of regulatory challenges in using PRO assessments in clinical trials, patients' experiences in cancer clinical trials, innovative methods and standardisation in cancer research, innovative methods across the disease sites or populations and cancer survivorship. Conferees demonstrated that PROs are becoming more accepted and major efforts are ongoing internationally to standardise PROs measurement, analysis and reporting in trials. Regulators are keen to collaborate with all stakeholders to ensure that the right questions are asked and the right answers are communicated. Improved technology and increased flexibility of measurement instruments are making PROs data more robust. Patients are being encouraged to be patient partners. International collaborations are essential, because this work cannot be accomplished on a national level

Measurement of the polarisation of W bosons produced with large transverse momentum in pp collisions at sqrt(s) = 7 TeV with the ATLAS experiment

This paper describes an analysis of the angular distribution of W->enu and W->munu decays, using data from pp collisions at sqrt(s) = 7 TeV recorded with the ATLAS detector at the LHC in 2010, corresponding to an integrated luminosity of about 35 pb^-1. Using the decay lepton transverse momentum and the missing transverse energy, the W decay angular distribution projected onto the transverse plane is obtained and analysed in terms of helicity fractions f0, fL and fR over two ranges of W transverse momentum (ptw): 35 < ptw < 50 GeV and ptw > 50 GeV. Good agreement is found with theoretical predictions. For ptw > 50 GeV, the values of f0 and fL-fR, averaged over charge and lepton flavour, are measured to be : f0 = 0.127 +/- 0.030 +/- 0.108 and fL-fR = 0.252 +/- 0.017 +/- 0.030, where the first uncertainties are statistical, and the second include all systematic effects.Comment: 19 pages plus author list (34 pages total), 9 figures, 11 tables, revised author list, matches European Journal of Physics C versio