3 research outputs found
Testes asymmetry, condition and sexual selection in birds: an experimental test
The functional significance of the marked directional asymmetry in testes size observed in many bird
species is obscure. Møller suggested that (i) the smaller of the two testes serves a compensatory role and
increases in size (and hence reduces asymmetry) when the larger one is defective in some way, and (ii) as a
consequence, the degree of directional asymmetry in testes size reflects male quality and covaries positively
with the expression of secondary sexual traits.We conducted an experimental test of these two hypotheses
in the zebra finch,Taeniopygia guttata. Neither hypothesis was supported. First, there was no significant relationship between the size of the left testis and relative testes asymmetry. Second, we obtained no support
for the hypothesis that the degree of directional asymmetry in testes mass covaried with condition. On the
contrary, directional asymmetry in testes mass was signifcantly greater in birds whose condition was
experimentally reduced, compared with control birds. Moreover, we found no significant relationships
between testes asymmetry and secondary sexual traits. We conclude that directional asymmetry in testes
size does not reflect male condition in the zebra finch
Currency Swaps and International Real Estate Investment
This paper examines the efficacy of currency swaps as a hedging mechanism for the exchange rate risk associated with foreign investment in real estate. Earlier studies have concentrated on short-term hedging instruments such as options and forward contracts. Currency swaps are better suited for use on investments with long-term holding periods such as real estate. The findings indicate that, although hedging United States real estate investments with currency swaps suppresses most of the risk induced by currency instability, the improvements are insufficient to produce diversification gains for foreign investors in the context of mean-variance portfolio performance. Copyright American Real Estate and Urban Economics Association.