Retention Rates, Re-investment and Depreciation in European Office Markets

The retention rate of a company has an impact on its earnings and dividend growth. Lease structures and performance measurement practice force real estate investment managers to adopt full distribution policies. Does this lead to lower income growth in real estate? This paper examines several European office markets across which the effective retention rates vary. It then compares depreciation rates across these markets. It is concluded that there is evidence of a relationship between retention and depreciation. Those markets with particularly inflexible lease structures exhibit low retention rates and higher levels of rental value depreciation. This poses interesting questions concerning the appropriate way to measure property performance across markets exhibiting significantly different retention rates and also raises important issues for global investors.

Retention rates, re-investment and depreciation in European office markets

The retention rate of a company has an impact on its earnings and dividend growth. Lease structures and performance measurement practice force real estate investment managers to adopt full distribution policies. Does this lead to lower income growth in real estate? This paper examines several European office markets across which the effective retention rates vary. It then compares depreciation rates across these markets. It is concluded that there is evidence of a relationship between retention and depreciation. Those markets with particularly inflexible lease structures exhibit low retention rates and higher levels of rental value depreciation. This poses interesting questions concerning the appropriate way to measure property performance across markets exhibiting significantly different retention rates and also raises important issues for global investors

Accumulation and elimination dynamics of the hydroxybenzoate saxitoxin analogues in mussels Mytilus galloprovincialis exposed to the toxic marine Dinoflagellate Gymnodinium catenatum

Paralytic shellfish poisoning (PSP) is a severe food-borne illness, caused by the ingestion of seafood containing paralytic shellfish toxins (PST), which are naturally produced by marine dinoflagellates and accumulate in shellfish during algae blooms. Novel PST, designated as hydroxybenzoate analogues (also known as GC toxins), was relatively recently discovered in Gymnodinium catenatum strains worldwide. However, to date, there have been no studies examining their accumulation in shellfish. In this study, mussels (Mytilus galloprovincialis) were exposed to G. catenatum for five days and then exposed to a non-toxic diet for 24 h, to investigate the toxin's accumulation/elimination dynamics. As determined by UHPLC-HILIC-MS/MS, the hydroxybenzoate analogues, GC1 to GC6, comprised 41% of the algae toxin profile and only 9% in mussels. Elimination of GC toxins after 24 h was not evident. This study highlights that a relevant fraction of PST in mussels are not routinely analysed in monitoring programs and that there is a need to better understand the toxicological potential of the hydroxybenzoate analogues, in order to properly address the risk of G. catenatum blooms.Centre for Environment, Fisheries and Aquaculture Science - contract code DP402; Fundacao para a Ciencia e a Tecnologia - PD/BD/113484/2015; FCT Investigator; Mar2020 - SNMB-INOV: Innovation for a more competitive shellfish sector, co-financed by the Operational Program Mar 2020, Portugal 2020info:eu-repo/semantics/publishedVersio

General F-theory models with tuned (SU⁡(3)×SU⁡(2)×U⁡(1))/Z6(\operatorname{SU}(3) \times \operatorname{SU}(2) \times \operatorname{U}(1)) / \mathbb{Z}_6 symmetry

We construct a general form for an F-theory Weierstrass model over a general base giving a 6D or 4D supergravity theory with gauge group $(\operatorname{SU}(3) \times \operatorname{SU}(2) \times \operatorname{U}(1)) / \mathbb{Z}_6$ and generic associated matter, which includes the matter content of the standard model. The Weierstrass model is identified by unHiggsing a model with $\operatorname{U}(1)$ gauge symmetry and charges $q \le 4$ previously found by the first author. This model includes two distinct branches that were identified in earlier work, and includes as a special case the class of models recently studied by Cveti\v{c}, Halverson, Lin, Liu, and Tian, for which we demonstrate explicitly the possibility of unification through an $\operatorname{SU}(5)$ unHiggsing. We develop a systematic methodology for checking that a parameterized class of F-theory Weierstrass models with a given gauge group $G$ and fixed matter content is generic (contains all allowed moduli) and confirm that this holds for the models constructed here.Comment: 36 pages, LaTe

Limits on Neutrino Radiative Decay from Sn1987a

We calculate limits on the properties of neutrinos using data from gamma-ray detectors on the Pioneer Venus Orbiter and Solar Max Mission satellites. A massive neutrino decaying in flight from the supernova would produce gamma rays detectable by these instruments. The lack of such a signal allows us to constrain the mass, radiative lifetime, and branching ratio to photons of a massive neutrino species produced in the supernova. Presented at Beyond The Standard Model III, June, 1992.Comment: 5 Pages, 2 Figures (avalable on request). LaTeX, WorldSci.st

CHEMICAL DYNAMICS IN NORTH SEA ESTUARIES AND PLUMES

Observational and experimental studies have been undertaken in the southern North Sea environment, including five major estuaries (Humber, Thames, Scheldt, Weser and Elbe), with the aim of elucidating the mechanistic and kinetic details of trace metal reactivity required for the refinement of pollutant transport models. The results of a systematic investigation of suspended particle characteristics (BET specific surface area and porosity, carbon content. Fe and Mn oxide coatings) indicated that, although there exists significant yet explicable variability among the North Sea estuaries, such compositional factors do not exert an observable influence on solid-solution interactions. Furthermore, chemical reactivity was not usually demonstrable from observations of leachable particulate trace metals as phase interactions Impart relatively little influence on their concentrations; particulate metal distributions therefore generally conformed with mixing of fluvial and marine material unless perturbed by major anthropogenic sources as in the Humber. Solid-solution redistributions were revealed by following the partitioning of artificial radiotracers in a series of carefully controlled experiments in which salinity and suspended solids concentration gradients were simulated by mixing river and sea water end-member samples. Relationships between salinity and the solid:solution concentration of radiotracers as quantified by a distribution coefficient ( K Q ) indicated substantial desorption from particles of ^^®Cd and ^"^^Cs. conservative behaviour of ^ ^ Z n , and oxidative removal from solution of ^^Mn. Radiochemical techniques applied in situ to study solid-solution partitioning in the southern North Sea established a more significant role of particle composition (in particular, estuarine-derived versus plankton-rich material) in regulating trace metal behaviour in offshore waters. This finding was corroborated by distinct seasonal contrasts in measured particulate metal concentrations; whereas most metals (Fe, Mn. Cu, Pb, Zn) were enriched during winter when detrital and terrigenous components from fluvial/resuspension inputs dominate. Cd was elevated during summer in tandem with amplification of the biomass. These results provide a valuable basis for both future long-term pollutant monitoring programmes, and the conceptual development of estuarine chemical flux models, specifically the incipient Plymouth Marine Laboratory model of the Humber plume.Plymouth Marine Laborator