Global Engagement and Returns Volatility

This paper finds that a greater reliance on foreign market sales increases the volatility of firms’ stock returns, using high-frequency data for publicly listed Japanese manufacturing firms over the period 2000–10. The two margins of global engagement we consider, namely, exports and sales via foreign affiliates (horizontal foreign direct investment), have both a positive and economically significant effect on firm-level volatility. We find, however, that increasing the intensity of sales through foreign affiliates has a stronger effect on volatility than a similar change in export intensity. We also uncover evidence consistent with the notion that firms’ need to use external finance to cover the substantial costs involved in reaching foreign consumers can be an important channel through which firms’ participation in international markets increases their exposure to economic uncertainty

Exporting, FDI, and Labour Demand Adjustment: Evidence from the UK Manufacturing

This paper documents evidence of differential speed of labour demand adjustment among exporters, foreign multinationals (henceforth MNEs) and domestic non-exporting firms from the UK manufacturing industry. Our findings show that MNEs exhibit the fastest speed of employment adjustment to its optimal level, followed by exporters and then domestic non-exporters. Interestingly, the long-run adjustment of labour demand with respect to factor price and demand shocks is less pronounced amongst MNEs and exporters, consistent with the view that firms engaged in international commerce activities generate more skilled jobs that are more costly to dispose of. Moreover, exporting intensity also seems to matter; MNEs with limited export-market commitment are found to have more rigid labour adjustment in response to output and wages shocks in the long run. These findings may allay fears on the footloose nature of MNEs in the sense that jobs in MNEs (followed by exporters) are expected to be more secure on average in response to any shocks affecting long-run labour demand.foreign direct investment (FDI); exports; employment adjustment

Corporate Acquisitions and Firm-level Uncertainty: Domestic versus Cross-Border Deals

This paper studies the impact of corporate acquisitions on the uncertainty faced by acquiring firms. We use data for UK public companies from 2004 to 2017 and employ a matching estimator combined with difference-in-differences to control for the endogenous selection of firms into acquiring status. Acquisitions exert a large and persistent effect on the volatility of stock returns of acquirers and is characterized by a pecking order: domestic takeovers lead to a reduction in the uncertainty faced by the acquirer, while cross-border acquisitions|particularly those involving target firms in emerging markets|engender a positive response in acquirers' volatility

A cross-sectional study on bovine trypanosomosis in Jawi district of Amhara Region, Northwest Ethiopia

A cross-sectional study was carried out from December 2008 to March 2009 in Jawi district of Amhara Regional State northwest Ethiopia to assess the prevalence of bovine trypanosomosis. Blood sample was collected randomly from a total of 300 cattle through piercing of the marginal ear vein to determine the prevalence and measure PCV values for the assessment of anemia. During sampling age, sex and body condition of the animals were recorded to infer risk factors for the occurrence of the disease. The buffy coat technique was em ployed for the detection of trypanosome and to measure PCV values. Thin blood smear was made from positive samples for species identification of the parasite. The prevalence of trypanosomosis was found to be 11.33% (95% CI: 0.08 - 0.15%) in Jawi district of which higher prevalence with species of trypanosome was detected to be for T. congolense (65%) than T. vivax (35%). The prevalence showed no significant difference in susceptibility between sex categories and in age groups. The infection rate between body condition score in parasitaemic and aparasitaemic animals was significantly different (P< 0.05) that poor body conditioned animals were more affected by trypanosomes than good conditioned animals. The mean PCV values in parasitaemic animals was 24.29% +5.58SD while in aparasitaemic animals 27.46% +5.67SD with a statistical significant difference (

Childhood limb fracture at Tikur Anbessa Specialised Hospital (TASH), Addis Ababa, Ethiopia

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Profitability Study of Hibiscus sabdariffa L. Production around Wendo Genet District, Ethiopia

Roselle (Hibiscus sabdariffa L.) belongs to the family Malvaceae, locally called “karkade”, is an important annual crop grown successfully in tropical and sub-tropical climates. It takes five months from planting to harvesting. This study aims to examine financial feasibility and to determine associated costs and benefits from the production of Hibiscus sabdariffa at Wondo Genet. Two varieties of Hibiscus sabdariffa (WG-Hibiscus-Jamaican and WG-Hibiscus-Sudan) was planted on an area of 100m2 on experimental field with two replications using direct sawing on field and seedling preparation on nursery for determination of costs and returns. The spacing between plants and between rows was 60cm (60cm x60cm). Simple cost accounting method was employed to examine cost benefit of the plant. Net benefit and BCR of hibiscus production was used to determine profitability. The result shows that Production cost of Sudan type hibiscus is almost similar to Jamaican type except harvesting and post harvesting management cost difference caused due to yield difference. However the production of Sudan hibiscus is more profitable both by direct sawing and preparing seedlings on nursery; the study also revealed that producing both type of hibiscus for calyx by direct sawing is more profitable than using seedling preparation on nursery. Generally the study shows production of both type of Hibiscus sabdariffa at wondogenet is profitable

Approaches, methods and processes for innovative apiculture development: experiences from Ada'a-Liben Woreda Oromia Regional State, Ethiopia

The Improving Productivity and Marketing Success (IPMS) for Ethiopian Farmers'; Project being implemented by the International Livestock Research Institute (ILRI) commissioned Sap-Tec PLC to study the existing potential and execute apiculture development in Ada';a-Liben woreda, one of the IPMS'; ten Pilot Learning Woredas (PLWs). The main objective of this apiculture intervention was to identify the current beekeeping practices, assess potentials and problems, and provide solutions through the introduction of a participatory market-oriented modern beekeeping practice as an income-generating activity to farmers and others who are interested to complement their income. The activities reported in this paper are based on studies and interventions undertaken to enhance market-oriented apiculture development in Ada';a-Liben woreda between 2005 and 2007. This working paper is divided into a number of sections. The first two sections describe the major strengths and constraints of the bee industry in Ethiopia. Section 3 describes the beekeeping institutes and associations. Sections 4 and 5 analyse the most important opportunities and threats for apiculture development and marketing intervention in Ada';a-Liben woreda. Section 6 presents IPMS intervention strategies and lessons learned in knowledge sharing, capacity building, and commodity development including technology transfer, platforms, input supply, credit facilitation and market linkage. This section also discusses the methods used and the achievements obtained so far. Finally, Section 7 discusses both general and industry specific recommendations, which form the basis for further development of the industry. This working paper is intended to provide preliminary information on lessons drawn in beekeeping interventions in Ada';a-Liben woreda and to share the experiences to those who have already launched or are planning to launch apiary development program as an alternative income generating activity. It also highlights the methodologies applied and the lessons learned from the apiculture interventions of the IPMS project for scaling up to other woredas. The main objective of this apiculture intervention was to identify the current beekeeping practices, assess potentials and problems, and provide solutions through the introduction of a participatory market-oriented modern beekeeping practice as an income-generating activity to farmers and others who are interested to complement their income

Assessment of awareness on food borne zoonosis and its relation with Veterinary Public Health Services in and around Addis Ababa, Ethiopia

A survey qualitative survey was conducted to assess the awareness on food borne zoonosis and its relation with Veterinary Public Health Services in Addis Ababa and its surrounding districts from November 2008 to May 2009. Structured questionnaire was used in the study. Questionnaires were distributed to 384 individuals, of which 196 were elementary and high school students, and 196 were Graduates. Factors like education level, information source and profession were considered for possible explanation of the results. The use of inspected animal products is found statistically different (P&lt;0.05) among health and non health professionals while no difference is seen between students and graduates. The majority (85.42%) of the students get their information from other information sources like their families in the form of advice and 67.71% of health professionals get their information from their medical schools. The most frequently mentioned zoonotic diseases were Rabies 384(100 %), followed by Anthrax 362(94.27%), Teniasis 342 (89.06%), Tuberculosis 340 (88.54%) and Brucellosis 190(49.48%) and 120(31.25%) mentioned other infectious diseases of zoonotic importance. The importance of veterinary public health in the overall public health institutions was assessed by looking at the responses to questions and shown that yet the public health institutions don&#8217;t see the need of having veterinarians in the public health. In conclusion this study demonstrated that the awareness and use of inspected and packed animal products is relatively low that expose the people to risk of food borne pathogens and the awareness of health institutes on the importance of veterinary public health service is relatively low. The authors would like to recommend to the government and concerned bodies to raise the awareness of the public using the appropriate communication media, and to strengthen the contribution of public health veterinarians in the public health services for better community health

Improvement of accession distinctiveness as an added value to the global worth of the yam (Dioscorea spp) genebank

Open Access JournalMisidentification of accessions is a common problem in genebanks. Along the years, mistakes accumulate and this is particularly true when dealing with a large number of accessions requiring annual regeneration. Human errors such as mislabeling or misreading and material mix up during planting or storage are the main causes for misidentification of accessions. The international collection of yam, maintained at IITA, has accumulated ‘non true to type’ accessions along the years. In the present study, 53 morphological descriptors were used to detect uniformity of individuals within accessions of the yam gene bank collection i.e. agro morphological mismatch between individual plants of the same accession. Based on a similarity matrix, individual pairs with less than 0.90 similarity coefficients, which varies in six descriptors and more, were considered as distinct and mismatched, whereas those that had similarity coefficients greater than or equal to 0.90 were considered as clones from the same parent. Overall, 20.60% of the total 3156 accessions were found not true to type i.e., misidentified individuals. The descriptive analysis shows that morphological traits like distance between lobes, upward folding of leaf along main vein, young stem color, old stem color, leaf shape, leaf density and plant vigor are the most discriminative descriptors for individual identification within accession. Some other traits were also found species specific and they may aid in distinguishing misidentifications between species