Capital structure revisited. Do crisis and competition matter in a Keiretsu corporate structure?

The file attached to this record is the author's final peer reviewed version.open accessWe investigate firm-level determinants of capital structure using a large sample of 4,284 Japanese firms over a nineteen-year period (i.e., over 61,000 firm-year observations), a hitherto less examined sample for this purpose. We conduct our analysis and interpret our findings predominantly within the pecking order, the trade-off and the agency theoretical frameworks. We uncover three new findings. First, our evidence indicates that insights derived from the extant literature on capital structure are cross-national and are applicable in the context of Japan, despite the unique characteristics of Japanese firms. Second, financial crisis significantly impacts the relationship between leverage and firm-level determinants, particularly accentuating the effect of asset tangibility and growth. Third, product market competition significantly impacts the observed relationship between firm-level determinants and leverage. Our results are robust, controlling for the joint effects of competition and crisis

Tissue-specific down-regulation of LjAMT1;1 compromises nodule function and enhances nodulation in Lotus japonicus

Plant ammonium transporters of the AMT1 family are involved in N-uptake from the soil and ammonium transport, and recycling within the plant. Although AMT1 genes are known to be expressed in nitrogen-fixing nodules of legumes, their precise roles in this specialized organ remain unknown. We have taken a reverse-genetic approach to decipher the physiological role of LjAMT1;1 in Lotus japonicus nodules. LjAMT1;1 is normally expressed in both the infected zone and the vascular tissue of Lotus nodules. Inhibition of LjAMT1;1 gene expression, using an antisense gene construct driven by a leghemoglobin promoter resulted in a substantial reduction of LjAMT1;1 transcript in the infected tissue but not the vascular bundles of transgenic plants. As a result, the nitrogen-fixing activity of nodules was partially impaired and nodule number increased compared to control plants. Expression of LjAMT1;1-GFP fusion protein in plant cells indicated a plasma-membrane location for the LjAMT1;1 protein. Taken together, the results are consistent with a role of LjAMT1;1 in retaining ammonium derived from symbiotic nitrogen fixation in plant cells prior to its assimilation

BIM-driven energy simulation and optimization for net-zero tall buildings: sustainable construction management

The growing demand for sustainable and energy-efficient buildings, particularly in the context of tall structures, has prompted increased attention to innovative solutions. Despite advancements in Building Information Modelling (BIM) technology, there exists a critical gap in understanding its comprehensive application for achieving net-zero energy consumption in tall buildings, particularly in the Malaysian construction industry. This research addresses this gap by presenting a novel strategy that integrates BIM technology with energy analysis tools for net-zero tall buildings in Malaysia. The aim of the study is to contribute valuable insights to the construction industry, policymakers, and researchers by conducting empirical research, utilizing case studies, validating the proposed framework, advancing sustainable design practices, and supporting the transition towards net-zero energy tall buildings in Malaysia. The methodology involves a three-phase approach, including qualitative analysis, a pilot survey, and a main questionnaire. Exploratory factor analysis (EFA) validates the categorization derived from qualitative interviews, while Partial Least Squares Structural Equation Modelling (PLS-SEM) assesses the convergent and discriminant validity of the measurement model. Hypotheses testing using bootstrapping establishes the significance of correlations between BIM deployment and key factors such as early design integration, enhanced energy efficiency, optimized system integration, predictive performance analysis, and validation of sustainable design. The research findings support the positive associations between BIM deployment and the mentioned factors, providing statistical significance through T-statistics and p-values. The implications of this research extend beyond the Malaysian context, offering valuable insights for architects, engineers, and stakeholders involved in designing and managing sustainable tall buildings. By addressing the identified gaps and leveraging BIM technology effectively, stakeholders can contribute to the construction of net-zero energy structures, aligning with global efforts towards sustainable and energy-efficient building practices

Endophytic actinomycetes from spontaneous plants of Algerian Sahara: indole-3-acetic acid production and tomato plants growth promoting activity

Twenty-seven endophytic actinomycete strains were isolated from five spontaneous plants well adapted to the poor sandy soil and arid climatic conditions of the Algerian Sahara. Morphological and chemotaxonomical analysis indicated that twenty-two isolates belonged to the Streptomyces genus and the remaining five were non- Streptomyces. All endophytic strains were screened for their ability to produce indole-3-acetic acid (IAA) in vitro on a chemically defined medium. Eighteen strains were able to produce IAA and the maximum production occurred with the Streptomyces sp. PT2 strain. The IAA produced was further extracted, partially purified and confirmed by thin layer chromatography (TLC) analysis. The 16S rDNA sequence analysis and phylogenetic studies indicated that strain PT2 was closely related to Streptomyces enissocaecilis NRRL B 16365T, Streptomyces rochei NBRC 12908T and Streptomyces plicatus NBRC 13071T, with 99.52 % similarity. The production of IAA was affected by cultural conditions such as temperature, pH, incubation period and L-tryptophan concentration. The highest level of IAA production (127 lg/ml) was obtained by cultivating the Streptomyces sp. PT2 strain in yeast extract-tryptone broth supplemented with 5 mg L-tryptophan/ ml at pH 7 and incubated on a rotary shaker (200 rpm) at 30°C for 5 days. Twenty-four-hour treatment of tomato cv. Marmande seeds with the supernatant culture of Streptomyces sp. PT2 that contained the crude IAA showed the maximum effect in promoting seed germination and root elongation