228 research outputs found

    Molecular mechanisms of the phosphate deficiency-induced root hair growth in Brassica carinata

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    Quantifizierbarkeit von Risiken auf Finanzmärkten

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    Die Krise der internationalen Finanzmärkte hat die allgemeine Wahrnehmung für die in diesen Märkten inhärenten Risiken merklich verändert. Glaubten manche Anleger in den Boomphasen der Finanzmärkte, dass sich eine hohe Kapitalrendite mit geringem Risiko verbinden ließe, wenn man nur die Finanzprodukte entsprechend gestaltete, hat sich diese Wahnvorstellung zwischenzeitlich verflüchtigt. Will man vernünftig mit diesen Risiken umgehen, ist es notwendig, diese quantifizieren zu können. Hier gilt es, eine Reihe methodischer Probleme zu bewältigen, da sich einfache statistische Methodiken als nicht adäquat für die vielschichtigen Finanzmarktrisiken erweisen. Die Vielschichtigkeit dieser Risiken hat in den letzten Jahrzehnten zugenommen, insbesondere seitdem hypothekengesicherte Darlehen in verbriefter und verpackter Form auf Finanzmärkten abgesetzt wurden. Der Fokus der folgenden Ausführungen liegt bei der Quantifizierung der Risikoeinschätzungen, und zwar unter Beachtung von Wahrnehmungsproblemen, wie sie in der modernen Verhaltensökonomik erörtert werden. Daneben werden aber auch Probleme des demographischen Risikos angesprochen.pricing kernels, risk aversion, risk neutral density

    The effect of wind on foraging activity of the tenebrionid beetle Lepidochora discoidalis in the sand dunes of the Namib Desert

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    The foraging activity of the tenebrionid beetle, Lepidochora discoidalis, was studied in the sand dunes of the Namib Desert. The surface activity of this beetle species was found to be correlated both with time of day and wind speed. Higher numbers were observed on the dune surface between 17:00-19:00 h when wind speeds were consistently higher than 9 m/s. Noise and vibrations in the dune sand were found to be highly dependent on wind speed. Wind blowing at speeds higher than 5 m/s lifts the surface sand grains and generates vibrations in the sand. The peak frequency of these vibrations is in the range of 700-1000 Hz. The vibrational amplitude at the peak frequency is on average 40 dB higher at those wind speeds when the beetles are active compared to lower wind speeds. The results indicate that wind is an important cue for these beetles and can be perceived by buried beetles through substrate vibrations.S. Afr. J Zool. 1997,32(4

    European Takeover Law — Towards a European Modified Business Judgment Rule for Takeover Law

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    This publication is with permission of the rights owner freely accessible due to an Alliance licence and a national licence (funded by the DFG, German Research Foundation) respectively.Peer Reviewe

    Guttation and risk for honey bee colonies (Apis mellifera L.): Use of guttation drops by honey bees after migration of colonies - a field study

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    Background: The aim of this experiment was to investigate whether honeybees from colonies that are not familiar with their surrounding landscape, due to short-distance migration to a new location, are more at risk by guttation drops from seed-treated plants than bee colonies which are already familiar with alternative water sources in the surrounding of their apiary. Results: The mean mortality of bees, which occurred after moving beehives to a new location, increased only slightly from 6 bees/day (-1 day before moving) up to a maximum of 21 bees/day (1 day after moving). No significant differences in the mean number of dead bees between bee colonies that were familiar with all sites of water sources in the surrounding area and bee colonies that were only recently moved to the field were observed. Conclusion: There was no indication that honey bee colonies which were not familiar with the surrounding landscape are more at risk by guttation drops from seed-treated plants than bee colonies which are already familiar with the alternative water sources in their surrounding landscape. Keywords: guttation, seed treatments, transport beehives, pesticides, honey bee, water forager

    Regulatory Competition in EU Corporate Law after Inspire Art: Unbundling Delaware’s Product for Europe

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    Dieser Beitrag ist mit Zustimmung des Rechteinhabers aufgrund einer (DFG-geförderten) Allianz- bzw. Nationallizenz frei zugänglich.The decisions of the European Court of Justice in Centros and then in Inspire Art open up the possibility of regulatory competition in European corporate law. Now that EU Member States have to recognize each other’s charters, some Member States could enact and enforce corporate law preferred by shareholders, managers or both, and thus lure corporations away from other Member States with less attractive corporate law. The European debate after Inspire Art will in some ways resemble the U.S. debate over the “Delaware effect” on corporate law over the past seventy years. Implicit in much of this debate, however, is the assumption, based on the U.S. experience, that regulatory competition in corporate law necessarily means that Member States will offer both their corporate law and their judicial system to managers and investors in other Member States who choose to incorporate abroad. In the United States, incorporation in Delaware means that corporate law cases are litigated in Delaware. This bundling of statutory law and adjudication might, however, cause difficulties in Europe. Using a theoretical framework of New Institutional Economics, we suggest that Member States are most likely to succeed in the regulatory competition following Centros and Inspire Art if they unbundle the corporate law product and allow buyers of corporate charters to choose the corporate law of the Member State of incorporation but have disputes under that law adjudicated elsewhere, preferably by arbitration panels. Although it is possible to allow disputes under one Member State’s corporate law to be decided by the local courts of another Member State (probably the “seat” of the corporation), for a variety of reasons we find this to be an unattractive alternative. A more attractive alternative is adjudication by panels of professional arbitrators who specialize in the corporate law of a particular Member State, but who could be citizens of different Member States, and who would apply uniform procedural rules determined by an arbitration association rather than by national courts. This alternative requires that Member States allow corporate charters to provide for arbitration of disputes over corporate internal affairs. While national courts in the Member State of incorporation could do this by routinely enforcing arbitration awards, specific provision for arbitration in corporate statutes is preferable. Then, if a Member State where a corporation has its principal place of business or some other Member State were to try to make the arbitration clause unworkable under its own conflict of laws principles, the Member State of incorporation and private parties could claim, probably successfully, that frustration of the arbitration clause was not in compliance with the right of establishment as interpreted by the ECJ in Inspire Art.Peer Reviewe

    Water collection by honey bees – How far will foragers fly to use water sources like guttation drops? A first distance trial using cereals and oilseed rape

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    Background: Depending on the location, various water sources may be available for bee colonies. These sources can be permanent, such as ponds, or incidental like dew or guttation droplets. The aim of the experiment was to investigate whether bees prefer guttation drops as a water source compared to dew or rain drops. Furthermore it was analysed if bees use these water sources up to a distance of 50m from their hives. Results: During the experiment 147 bees were observed scanning the surface of the plants without landing, 13 bees took up guttation fluid and 36 bees collected dew or rain drops. Few bees were observed collecting guttation fluid at 50m from their hives but most in close proximity of the hives. Furthermore, in some dead bees residues of the seed treatment were detected (imazalil: 0.0011 μg/bee – 0.329 μg/bee; LD50= 35.1 μg/bee). Conclusion: In the majority of observations, bees were spotted scanning the leaf area of the plants. Only single bees were observed that actually took up water from plant leaves. It seems these bees did not distinguish between dew, rain or guttation droplets. The majority of water collecting or bees resting on plants were observed in the close proximity of their hives. Keywords: guttation fluid, pesticides, seed treatment, honeybee, water source, distanc
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