The Determinants Of Cross-Border Equity Flows

We apply a new approach to a new panel data set on bilateral gross cross-border equity flows between 14 countries, 1989-96. The remarkably good results have strong implications for theories of asset trade. We find that the geography of information heavily determines the pattern of international transactions. Our model integrates elements of the finance literature on portfolio composition and the international macroeconomics and asset trade literature. Gross asset flows depend on market size in both source and destination country as well as trading costs, in which both information and the transaction technology play a role. The resulting augmented 'gravity' equation has equity market capitalisation representing market size and distance proxying some informational asymmetries, as well as a variable representing openness of each economy. But other variables explicitly represent information transmission (telephone call traffic and multinational bank branches), an information asymmetry between domestic and foreign investors (degree of insider trading), and the efficiency of transactions ('financial market sophistication'). This equation accounts for almost 70% of the variance of the transaction flows. Dummy variables (adjacency, language, currency or trade bloc, and a 'major financial centre' effect) do not improve the results, nor does a variable representing destination country stock market returns. The key role of informational asymmetries is confirmed. Our information transmission variables also substantially improve standard gravity equations for trade in goods.Equity flows, cross-border portfolio investment, information asymmetries, gravity model

Fifty Definitions of English Learner: A Proposed Solution to Inconsistent State-by-State Systems in the United States for Classifying Students Who Speak English as a Second Language

Although nearly one in 10 U.S. students is an English Learner (or EL), the definition of the term EL varies considerably from state to state, as does the means of assessing English language proficiency and the period of time for which the label is applied to individual students. As EL populations are growing throughout the U.S., both in school systems familiar with teaching ELs and in systems that do not have such experience, it is urgent that the methods by which this population is identified and by which its needs are met in acquiring English language proficiency are backed up by evidence and, ideally, standardized at the national level. In this article, after reviewing the current decentralized climate of EL identification, classification and reclassification, we propose a new definition of English Learner that both resolves inconsistencies in current state-level practices and would include many practicing ELs who are often excluded from current state-level definitions

Teores de nitrogênio e de clorofilas em folhas de feijão e de soja inoculados com rizóbios.

Com o objetivo de avaliar os teores de nitrogênio total e de clorofila total em plantas de feijão e de soja conduziu-se um experimento em Goiânia-GO, utilizando delineamento inteiramente casualizado com três repetições

Caracterização diamétrica de um povoamento de Araucaria angustifolia (bertol.) Kuntze sob alta competição.

Resumo

Relación entre capacidades físicas, Indice de Masa Corporal (IMC) y la discriminación dentro de la clase de educación física en alumnos de 10 y 11 años, en cuatro colegios de Chillan, Chile

Objetivo: verificar relación entre IMC, capacidades físicas y discriminación en clase de Educación Física, alumnos entre 10 a 11 años, 4 colegios de Chillán, Chile. Metodología: medir flexibilidad, velocidad y resistencia; calcular IMC; posteriormente contestar cuestionario de auto percepción frente a sus pares en relación a discriminación en clases de Educación Física. Población: 178 sujetos; muestra: 44 indicaron discriminación. Resultados: IMC: 72,6 por ciento de la muestra, que sienten discriminación, no presentan niveles de obesidad. Velocidad: 47,7 por ciento sujetos discriminados se encuentran sobre el promedio; demuestra que la velocidad es un factor que influye en la discriminación debido a que menos de la mitad de los alumnos discriminados se encuentran sobre el nivel de aprobación. Resistencia: 75 por ciento superior y 25 por ciento bajo el promedio lo que demuestra que la resistencia no es un factor determinante en la discriminación. Flexibilidad: 11 por ciento de los sujetos bajo el promedio y un 89 por ciento sobre el nivel de aprobación; se indica que la flexibilidad no es un factor determinarte en la discriminación. Los resultados indicaron que la relación de IMC y las capacidades físicas, en base a la discriminación en la clase de Educación Física, existe relación entre ambas, pero con resultados diferentes, ya que el índice de masa corporal en sujetos que presentan el rango de bajo peso y son discriminados, tienen mejor capacidad física que en alumnos de rango normal, riesgo de obesidad y obesida

Regime-Dependent Sovereign Risk Pricing During the Euro Crisis

Previous work has documented a greater sensitivity of long-term government bond yields to fundamentals in euro area peripheral countries during the euro crisis, but we know little about the driver(s) of regime switches. Our estimates based on a panel smooth threshold regression model quantify and explain them: (1) investors have penalized a deterioration of fundamentals more strongly from 2010 to 2012; (2) the higher the bank credit risk, measured with the premium on credit derivatives, the higher the extra premium on fundamentals; (3) after ECB President Draghi’s speech in July 2012, it took 1 year to restore the noncrisis regime and suppress the extra premiu

Genetic markers in the study of Anisakis typica (Diesing, 1860): larval identification and genetic relationships with other species of Anisakis Dujardin, 1845 (Nematoda: Anisakidae)

Genetic variation at 21 gene-enzyme systems was studied in a sample of an adult population of Anisakis typica (Diesing, 1860) recovered in the dolphin Sotalia fluviatilis from the Atlantic coast of Brazil. The characteristic alleles, detected in this population, made it possible to identify as A. typica, Anisakis larvae with a Type I morphol ogy (sensu Berland, 1961) from various fishes: Thunnus thynnus and Auxis thazard from Brazil waters, Trachurus picturatus and Scomber japonicus from Madeiran waters, Scomberomorus commerson, Euthynnus affinis, Sarda orientalis and Coryphaena hippurus from the Somali coast of the Indian Ocean, and Merluccius merluccius from the Eastern Mediterranean. Characteristic allozymes are given for the identification, at any life-stage and in both sexes, of A. typica and the other Anisakis species so far studied genetically. The distribution of A. typica in warmer temperate and tropical waters is confirmed; the definitive hosts so far identified for this species belong to delphinids, phocoenids and pontoporids. The present findings represent the first established records of intermediate/paratenic hosts of A. typica and extend its range to Somali waters of the Indian Ocean and to the Eastern Mediterranean Sea. A remarkable genetic homogeneity was observed in larval and adult samples of A. typica despite their different geographical origin; interpopulation genetic distances were low, ranging from DNei = 0.004 (Eastern Mediterranean versus Somali) to DNei = 0.010 (Brazilian versus Somali). Accordingly, indirect estimates of gene flow gave a rather high average value of Nm = 6.00. Genetic divergence of A. typica was, on average, DNei = 1.12 from the members of the A. simplex complex (A. simplex s.s, A. pegreffii, A. simplex C) and DNei = 1.41 from A. ziphidarum, which all share Type I larvae; higher values were found from both A. physeteris (DNei = 2.77) and A. brevispiculata (DNei = 2.52), which have Type II larvae (sensu Berland, 1961). Genetic relationships among these species are shown using multidimensional scaling ordination (MDS). The genus Anisakis appears to be phylogenetically heterogeneous and includes two distinct groups of species, which are morphologically and genetically differentiated.info:eu-repo/semantics/publishedVersio

Competition index: a tool to define thinning in stands of Araucaria angustifolia.

IUFROLAT 2013. Disponibilizado online. Resumen

Reconceptualizing Context: A Multilevel Model of the Context of Reception and Second-Generation Educational Attainment

This paper seeks to return scholarly attention to a core intellectual divide between segmented and conventional (or neo-)assimilation approaches, doing so through a theoretical and empirical reconsideration of contextual effects on second-generation outcomes. We evaluate multiple approaches to measuring receiving country contextual effects and measuring their impact on the educational attainment of the children of immigrants. We demonstrate that our proposed measures better predict second-generation educational attainment than prevailing approaches, enabling a multilevel modeling strategy that accounts for the structure of immigrant families nested within different receiving contexts

Organizational-Social-Capital, Time and International Family SMEs:An Empirical Study from the East of England

Previous studies on family-SME internationalization have largely focused on what resources are needed to drive an incremental process rather than how resource management occurs in historical time. This paper focuses on the latter, adopting a social capital perspective (capturing both internal, i.e. among family-SME board members, and external, cross border agent dyads, relations) in order to decipher case study data from the East of England. Findings show that it is not the presence or absence of organizational-social-capital that affects family-SME internationalization success but rather its variable use over the years driven by the future pursuit of longevity, not growth. Key within this context is the variable use of the international expertise and management capability of non-family managers in the family SME intra-organizational context. Ultimately this may lead to change and learning that occurs erratically, often including reversals, without causing family-SME progression across a sequence of incremental stages