Case study beef industry in China

"The beef industry provides a window on food safety issues in China's rapidly developing economy. This industry provides particularly useful insights because the government has targeted it for development and because it is dominated by household slaughtering and wet markets, making food safety concerns pervasive. " from TextFood safety ,food security ,Public health ,

Covariant constraints for generic massive gravity and analysis of its characteristics

We perform a covariant constraint analysis of massive gravity valid for its entire parameter space, demonstrating that the model generically propagates five degrees of freedom; this is also verified by a new and streamlined Hamiltonian description. The constraint's covariant expression permits computation of the model's caustics. Although new features such as the dynamical Riemann tensor appear in the characteristic matrix, the model still exhibits the pathologies uncovered in earlier work: superluminality and likely acausalities.Comment: 26 pages LaTeX, references added, version to appear in Phys. Rev.

Manufacturing As A Center For The Creation Of Shareholder Value

A sample of the best manufacturing firms from Industrial Week’s Annual Survey of Manufacturers (2008-2009) is analyzed within the context of a value driver matrix and free cash flow regime that link manufacturing to important determinants of shareholder value.  The framework for analysis developed in association with this analysis relies on the format advocated by Rappaport (1998), whereby a manufacturing value driver map is derived that isolates those variables generally accepted as determinant with respect to manufacturing performance.  This map is subsequently used to identify that subset of variables that have the greatest impact on value and, in turn, to focus on those micro-value drivers over which operations management has a meaningful level of control.  If superior performance measured in terms of the micro-value drivers is an avenue to manufacturing excellence and the creation of shareholder value, one would expect to see statistically significant relationships between these predictor variables (micro-value drivers) and market value.  Here this proposition is tested by way of a simultaneous reverse entry multiple regression analysis where market capitalization (V0) is treated as a function of a set of manufacturing related micro-value drivers

Letter from C. A. Waldron to Representative Burdick Regarding Indian Law Book, February 6, 1954

This letter dated February 6, 1954, from attorney C. A. Waldron of the Waldron and Kenner law firm to United States (US) Representative Usher Burdick, responds to Burdick\u27s letter regarding an Indian law book Burdick had lent the firm. Waldron thanks Burdick for the use of the book and assures him it will be returned to Burdick once Waldron is finished with it. Waldron closes by telling Burdick that he agrees with Burdick\u27s views about the Bricker amendment. A handwritten annotation on the letter reads Black Dog See also: Letter from Representative Burdick to C. A. Waldron and Harris F. Kenner Regarding Indian Law Book, February 2, 1954https://commons.und.edu/burdick-papers/1489/thumbnail.jp

Intrinsic Value vs. Market Price: The Excess Return Period And That Elusive Margin Of Safety

The principle of convergence is well understood and most accept that in the long-term, market price and intrinsic value will converge. At any point in time, however, one may expect to see significant divergence between price and value. This analysis features a cross-sectional examination of 460 of the S&P 500 companies at a time when the market is under extreme duress. Of interest is the extent to which the market prices and intrinsic values of these firms are convergent, the value drivers responsible for the convergence/divergence, and the extent to which changes in the excess return period may influence valuations and, in turn, an investors margin of safety. A discriminant analysis provides a basis for distinguishing between those firms priced above and those priced below their respective intrinsic values and for identifying those variables that account for most of the between-group separation. Subsequently, intrinsic values are derived using different excess return periods and the resulting effect on the margin of safety is observed. Intrinsic values for the sample firms are derived from an estimate of free cash flow to the firm using Rappaports (1998) model

International Diversification And The Cost Of Capital: Is More Necessarily Better?

This study examines the extent to which international diversification is a statistically significant predictor of the cost of capital among S&P 500 firms.  Existing research concerning the “diversification discount” suggests that the financial markets have become enamored with the idea that more tightly focused firms tend to be more profitable and, as a consequence, worth more.  Of interest here is the extent to which this same line of reasoning (i.e., less diversification is better) holds for international diversification.  The argument put forth here is that while international diversification may indeed be an avenue to higher sales and earnings, this may not be enough to enhance the market value of the firm because unless the additional profit yields a return on invested capital above the firm’s cost of capital, and unless that margin is adequate to satisfy existing investors and to attract new capital, the market value of the firm will decline.  To fully understand the likely consequences of broader international diversification or, correspondingly, a tighter strategic focus, one must understand how such diversification is apt to affect the firm’s cost of capital.  This study uses Herfindahl’s index of concentration to measure the degree of international diversification among the S&P 500 firms and this measure is subsequently regressed on the cost of capital.  What distinguishes this research is its focus on the relationship between a firm’s level of international diversification and its cost of capital, a strategically important construct that has been virtually ignored in the literature

The Integration of Rural Households into Ruminant Livestock Industries in China

A major determinant of rural development in China is the way by which rural households integrate with rural industries. Three forms of integration market integration, vertical integration and integration through local groups are investigated. Policy measures that may facilitate household integration, household specialisation and market segmentation are identified. Findings for the ruminant livestock sector are widely applicable to other agricultural industries in China.China, rural development, livestock, markets, vertical integration, Livestock Production/Industries, Q13, Q18, L1,

A heterogeneous-agent model with district-level constraints: an application to livestock development in Gansu, China

This paper develops a heterogeneous-agent model to assess the impacts of removing lucerne growing subsidies, increasing livestock numbers and including district-level equilibrium conditions on optimal farm plans in the Qingyang district of Gansu Province, China. The model is a five-year dynamic linear program that solves across 96 farm households whilst incorporating district-level constraints. The approach used allows us to observe seasonal variations in incomes, infer the distribution of a policy shock among households and highlight trade patterns at the district level. The results suggest that without lucerne growing subsidies the total area of lucerne grown by all modelled households falls by 18%. Increasing livestock numbers by 25% reduces net household incomes by 17% as changes to labour allocations reduce off-farm employment opportunities. When external trade in forages is included in the model, total livestock numbers held by all 96 households rise from 502 to 838, this highlights the benefits of integrated feed markets. Shadow prices for crop production rise when livestock numbers increase, implying that benefits exist to improving crop yields.Heterogeneous-agent model, district-level constraints, livestock, China., Farm Management,

The preliminary design of bearings for the control system of a high-temperature lithium-cooled nuclear reactor

The design of bearings for the control system of a fast reactor concept is presented. The bearings are required to operate at temperatures up to 2200 F in one of two fluids, lithium or argon. Basic bearing types are the same regardless of the fluid. Crowned cylindrical journals were selected for radially loaded bearings and modified spherical bearings were selected for bearings under combined thrust and radial loads. Graphite and aluminum oxide are the materials selected for the argon atmosphere bearings while cermet compositions (carbides or nitrides bonded with refractory metals) were selected for the lithium lubricated bearings. Mounting of components is by shrink fit or by axial clamping utilizing differential thermal expansion