Implication of Behavioral Finance in Investment Decision-making Process

Behavioral finance is a structure that supplements some parts of standard finance and replaces other parts. It portrays the behavior of investors and management in decision-making; it illustrates the outcomes of interactions between investors and managers in financial and capital markets. As decisionmaking is an art to undertake complex situations and investors make irrational decisions during their investments. Therefore, it is a unique art to choose a certain alternative from various alternatives available. Although behavioral finance does not claim that every investor would suffer from similar illusion, instead it sheds light on to take necessary initiatives to avoid such illusions, which influence the process of decision-making, particularly while making investments

A Critical Review of Capital Structure Theories

The purpose of this paper is to scrutinize and appreciate the theories of capital structure starting from theory of Miller and Modigliani (1958) of capital structure, which is also known as irrelevance theory of capital structure and also including theory like pecking order theory, trade off theory, market timing theory and agency cost theory. In addition, authors have tried to explain the theories and their contradiction with each other in detail. This paper will be an addition to understand the theories of capital structure

Social network analysis of agonistic behaviour and its association with economically important traits in pigs

Aggression behaviour has several negative consequences on the performance and welfare of pigs. Here, the Social Network Analysis (SNA) approach was employed to (1) identify individual traits that describe the role of each animal in the aggression; (2) investigate the association of these traits with performance and feeding behaviour traits. The study was conducted on 326 Duroc pigs reared in 29 pens. Several individual centrality traits were identified and used to calculate the Social Rank Index. The Dominant, Subordinate, and Isolated animals represented 21.1%, 57.5% and 21.4%, respectively. No significant correlations were observed between out-degree (number of initiated agonistic behaviours) and growth traits, indicating the similarity of growth patterns for dominant and non-dominant animals. Furthermore, out-degree was correlated positively with average daily occupation time (time at the feeder/day) and average daily feeding frequency (number of visits to the feeder/day) but negatively with average daily feeding rate (gr/min). This may indicate the ability of non-dominant pigs to modify their behaviour to obtain their requirements. The Hamming distances between networks showed that there is no common behaviour pattern between pens. In conclusion, SNA showed the potential for extracting behaviour traits that could be used to improve pig performance and welfare.info:eu-repo/semantics/publishedVersio

Correlated responses to selection for intramuscular fat in several muscles in rabbits

[EN] The aim of this study was to evaluate the effect of six generations of selection for intramuscular fat (IMF) in muscle Longissimus thoracis et lumborum (LTL) at 9 wk. in IMF and fatty acid (FA) composition of muscles with diverse metabolic profile in rabbits. Direct response to selection was 0.33 g of IMF/ 100 g of LTL, around 0.4 SD per generation. A positive correlated response was observed in IMF of Biceps femoris, Supraspinatus and Semimembranosus proprius muscles at 9 wk., representing around 0.2 SD of the trait per generation. Selection affected similarly the FA composition of all muscles at 9 wk., high-IMF line showing greater monounsaturated but lower polyunsaturated FA percentages than low-IMF line, whereas no differences were observed for saturated FA. Traits were also measured at 13 wk. and correlated responses were in the same direction. Our results suggest a common genetic background for IMF and FA composition in muscles with different metabolic profile in rabbits.This work was supported by project AGL2014-55921-C2-01-P from the Spanish National Research Plan. M. Martinez-Alvaro acknowledges a FPI grant (BES-2012-052655) from the Economy Ministry of Spain.Martinez Alvaro, M.; Hernández, P.; Agha, SA.; Blasco Mateu, A. (2018). Correlated responses to selection for intramuscular fat in several muscles in rabbits. Meat Science. 139:187-191. https://doi.org/10.1016/j.meatsci.2018.01.026S18719113

Muscle metabolism in two rabbit lines divergently selected for intramuscular fat

[EN] A divergent selection experiment for intramuscular fat (IMF) of Longissismus dorsi muscle at 9 wk of age was performed in rabbits. The objective of this work was to compare the lipid metabolism in muscles and fat tissues of the high-IMF and low-IMF lines. Lipogenic, catabolic and lipolytic activities were studied in two muscles with different oxidative patterns (Longissimus dorsi and Semimembranosus proprius) and in perirenal fat depot at two ages, 9 wk and 13 wk. In addition, adipocytes were characterized in perirenal fat. In the fifth generation, direct response to selection was 0.26 g of IMF/ 100 g of muscle. Lines showed differences in their lipogenic activities of muscles and fat tissues at 13 wk, but not at 9 wk. High-IMF line showed greater glucose-6-P dehydrogenase (G6PDH), malic enzyme (EM) and fatty acid synthase (FAS) activities in Longissimus dorsi than low- IMF line with probabilities P0 = 1.00, 0.93 and 0.90, respectively. Differences between lines were particularly great for G6PDH activity, representing 1.13 SD. High-IMF line also showed greater G6PDH and FAS activities in Semimembranosus proprius (P0 = 0.98 for G6PDH and 0.95 for FAS) and perirenal fat (P0 = 0.91 for G6PDH and 0.96 for FAS). However, in perirenal fat, EM activity was greater in the low-IMF line (P0 = 0.90). No differences between lines were found almost in any catabolic or lipolytic activities of muscles. Regarding adipocyte characteristics, high-IMF line showed larger adipocytes in perirenal fat depot (P0 = 0.97) tissue compared to the low-IMF line, but no differences between lines were observed in the number of adipocytes. This study cast light on the metabolic activities involved in the genetic differentiation on lipid deposition in rabbits. This study shows that lipogenic activities in muscles and fat tissues, in particular G6PDH in Longissimus dorsi, are involved in the lipid accumulation in muscle and adipose tissues.This work was supported by project AGL2014-55921-C2-01-P from the Spanish National Research Plan. M. Martinez-Alvaro acknowledges a FPI grant (BES-2012-052655) from the Economy Ministry of Spain. The authors thank Federico Pardo for his technical assistance.Martínez Álvaro, M.; Agha, SA.; Blasco Mateu, A.; Hernández, P. (2017). Muscle metabolism in two rabbit lines divergently selected for intramuscular fat. Journal of Animal Science. 95(6):2576-2584. https://doi.org/10.2527/jas2017.1371S2576258495

Adaptations to climate-mediated selective pressures in sheep

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The genetic ancestry of American Creole cattle inferred from uniparental and autosomal genetic markers

Cattle imported from the Iberian Peninsula spread throughout America in the early years of discovery and colonization to originate Creole breeds, which adapted to a wide diversity of environments and later received influences from other origins, including zebu cattle in more recent years. We analyzed uniparental genetic markers and autosomal microsatellites in DNA samples from 114 cattle breeds distributed worldwide, including 40 Creole breeds representing the whole American continent, and samples from the Iberian Peninsula, British islands, Continental Europe, Africa and American zebu. We show that Creole breeds differ considerably from each other, and most have their own identity or group with others from neighboring regions. Results with mtDNA indicate that T1c-lineages are rare in Iberia but common in Africa and are well represented in Creoles from Brazil and Colombia, lending support to a direct African influence on Creoles. This is reinforced by the sharing of a unique Y-haplotype between cattle from Mozambique and Creoles from Argentina. Autosomal microsatellites indicate that Creoles occupy an intermediate position between African and European breeds, and some Creoles show a clear Iberian signature. Our results confirm the mixed ancestry of American Creole cattle and the role that African cattle have played in their development.Fil: Ginja, Catarina. Universidad de Porto. Facultad de Ciências. Centro de Investigação em Biodiversidade e Recursos Genéticos; PortugalFil: Gama, Luis Telo. Universidade de Lisboa. Faculdade de Medicina Veterinaria; PortugalFil: Cortés, Oscar. Universidad Complutense de Madrid; EspañaFil: Martin Burriel, Inmaculada. Universidad de Zaragoza; EspañaFil: Vega Pla, Jose Luis. Servicio de Cría Caballar de las Fuerzas Armadas. Laboratorio de Investigación Aplicada; EspañaFil: Penedo, Cecilia. University of California; Estados UnidosFil: Sponenberg, Phil. Virginia-Maryland Regional College of Veterinary Medicine; Estados UnidosFil: Cañón Ferreras, Francisco Javier. Universidad Complutense de Madrid; EspañaFil: Sanz, Arianne. Universidad de Zaragoza; EspañaFil: Egito, Andrea Alves do. Embrapa Gado de Corte; BrasilFil: Alvares, Luz Angela. Universidad Nacional de Colombia; ColombiaFil: Giovambattista, Guillermo. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico CONICET- La Plata. Instituto de Genética Veterinaria "Ing. Fernando Noel Dulout". Universidad Nacional de La Plata. Facultad de Ciencias Veterinarias. Instituto de Genética Veterinaria; ArgentinaFil: Agha, Saif. Ain Shams University. Faculty of Agriculture, Animal Production Department; EgiptoFil: Rogberg Muñoz, Andres. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico CONICET- La Plata. Instituto de Genética Veterinaria "Ing. Fernando Noel Dulout". Universidad Nacional de La Plata. Facultad de Ciencias Veterinarias. Instituto de Genética Veterinaria; ArgentinaFil: Cassiano Lara, Maria Aparecida. Centro de Genética e Reprodução. Instituto de Zootecnia; BrasilFil: Delgado, Juan Vicente. Universidad de Córdoba; EspañaFil: Martinez, Amparo. Universidad de Córdoba; Españ