bluuebunny/crossref_metadata_2025 huggingface dataset:
The future of financial markets and regulation: what strategy for Europe?
Authors: Gossé Jean-Baptiste , Plihon Dominique
Published: May 2014

Purpose

– This article aims to provide insight into the future of financial markets and regulation in order to define what would be the best strategy for Europe.

Design/methodology/approach

– First the authors define the potential changes in financial markets and then the tools available for the regulator to tame them. Finally, they build five scenarios according to the main evolutions observed on the financial markets and on the tools used by the regulator to modify these trends.

Findings

– Among the five scenarios defined, two present highly unstable features since the regulator refuses to choose between financial opening and independently determining how to regulate finance in order to preserve financial stability. Three of them achieve financial stability. However, they are more or less efficient or feasible. In terms of market efficiency, the multi-polar scenario is the best and the fragmentation scenario is the worst, since gains of integration depend on the size of the new capital market. Regarding sovereignty of regulation, fragmentation is the best scenario and the multi-polar scenario is the worst, because it necessitates coordination at the global level which implies moving further away from respective national preferences. However, the more realistic option seems to be the regionalisation scenario: this level of coordination seems much more realistic than the global one; the market should be of sufficient size to enjoy substantial benefits of integration. Nevertheless, the “European government” might gradually increase the degree of financial integration outside Europe in line with the degree of cooperation with the rest of the world.

Originality/value

– Foresight studies on financial markets and regulation are quite rare. This may be explained by the difficulty to forecast what will be their evolution in the coming decades, not least because finance is fundamentally unstable. This paper provides a framework to consider what could be the best strategy of regulators in such an unstable environment.
The future of global trade and the WTO
Authors: Cling Jean-Pierre
Published: May 2014

Purpose

–The global governance of trade is in a deadlock and the WTO is suffering from a long standing crisis of legitimacy. This paper aims to analyse the main issues which might influence the governance of world trade from now until 2030 and present quantitative projections of international trade.

Design/methodology/approach

–The research on the main issues which might influence the governance of world trade from now until 2030 draws on a detailed analysis of the WTO and trade policies. Four scenarios of the world economy are presented, which are derived from the international AUGUR research project “Challenges for Europe in the world in 2030” coordinated by Paris Nord University. The analysis takes into account econometric forecasting of world trade conducted in the framework of this project.

Findings

–First, the failure of the Doha Round of multilateral trade negotiations to reach its ambitious agenda derives from the discrepancy between the governance of world trade and the new power relationship prevailing in the world economy, with new emerging powers (China, India, etc.) rapidly increasing their share of world trade. Second, the continuous restructuring of world trade and economy, which goes together with new forms of globalization, will increase pressure for a profound reform of the governance of world trade in the next few years.

Research limitations/implications

–This paper calls for a reform of world trade governance, especially of the missions of WTO within a renovated economic world order. Future research could investigate more deeply the potential for regional trade integration, which is reinforced by international production networks. Regional trade agreements might be an increasing alternative to multilateral trade agreements.

Originality/value

–This paper brings new ideas by raising the issue of the governance of world trade using a prospective approach, with the aim to identify the key channels through which international trade integration will impact the world economy. This study bases its analysis on potential scenarios from now on until 2030, each of these scenarios corresponding to a specific institutional configuration.
A model for operationalizing ERM in project-based operations through dynamic capabilities
Authors: Arena Marika , Azzone Giovanni , Cagno Enrico , Silvestri Amerigo , Trucco Paolo
Published: May 2014

Purpose

– This paper aims to propose a model, to operationalize the idea of enterprise risk management (ERM), relying on the concept of capabilities. The proposed model, labelled “Spring model”, is specifically tailored to the characteristics of project-based organisations, where risk is to be managed transversally to different organizational levels (enterprise, project portfolio, functions, projects).

Design/methodology/approach

– A case study methodology is used to exemplify the functioning of the proposed model and display the suitability of the concept of capabilities, as means whereby companies can manage their risk. Data were collected from different sources over a time frame of three years: semi-structured interviews, official documents and presentations, archives, direct observation and internal document usually not available to the public.

Findings

– The “Spring model” explains how risk can impact different organizational levels (enterprise, project portfolio, functions, projects), and how risk can be effectively managed, at different organizational levels, through the organization's capabilities.

Practical implications

– The paper gives concrete guidance on the operational elements that project-based organisations should consider for managing risks in a comprehensive and integrated way and discusses potential analysis/insights that could be derived embracing the capability perspective. The empirical testing, performed in a leading oil and gas company, provides an example of its functioning.

Originality/value

– The paper represents an attempt to apply ERM concepts and tools to operations, making a connection between research in corporate governance and finance, where the ERM concept originated, and research in project management, where attention of researchers tended to concentrate on specific types of risk management practices.
Globalization (fighting), corruption and development
Authors: Asongu Simplice
Published: May 2014

Purpose

– Is globalization instrumental in fighting corruption? Do wealth effects matter in this fight? Are findings valid when linearity assumptions are dropped? The purpose of this paper is to assess the Lalountas et al. (2011) hypotheses (conclusions) in the African context.

Design/methodology/approach

– Though not form, yet in substance the intuition and motivation are compatible with those of Lalountas et al. (2011). Four hypotheses are tested from different methodological and contextual standpoints. In the analysis, while the economic and social dimensions of globalization are reflected in the human development index, the political dimension is captured by good governance indicators. A two-stage least squares-instrumental variable (TSLS-IV) estimation technique is applied where-in globalization instruments of trade and financial liberalization are instrumented on human development and government quality to account for corruption (corruption-control) effects. Thus the intuition is assessing how globalization is instrumental in the fight against corruption through human development (economic and social dimensions) and government quality (political dimension).

Findings

– H1: globalization is a powerful tool in fighting corruption (True). H2: globalization is an important tool in fighting corruption only in middle- and high-income countries (partially true). H3: for low-income countries globalization has no significant impact on corruption (true). H4: H1 and H2 are valid only under linearity (false).

Social implications

– In countries with high levels of per capita, emphasis is placed on the political and social dimensions of globalization and as a result the effects of this phenomenon on corruption-control are significant. Conversely, in nations with low levels of per capita income, emphasis is given to the economic dimension of international integration and as a result the effect of globalization on corruption is limited. As a policy implication, persistent globalization as an effective means to reduce corruption in developing countries might lead to inappropriate policies in low-income countries.

Originality/value

– This paper has tested the Lalountas et al. (2011) hypotheses in the continent where concerns of globalization, human development and corruption are most acute.
The effect of market structure, regulation, and risk on banks efficiency
Authors: I. Maghyereh Aktham , Awartani Basel
Published: May 2014

Purpose

– The purpose of this paper is to analyze the efficiency performance of the Gulf Cooperation Countries (GCC) banking sector. The primary focus is to assess whether market power, risk taking activities, and regulations have significant effects on GCC banks’ efficiency performance.

Design/methodology/approach

– The estimation and inference has been implemented using a double bootstrap procedure that simultaneously corrects for bias and validates inference on the influence of covariates. In the first stage, efficiency scores are estimated with data envelopment analysis (DEA). In the second stage, variation in the resulting efficiency scores is explained using a truncated regression model with inference based on a semi-parametric bootstrap routine.

Findings

– The authors found compelling evidence that efficiency is not independent of the market structure, the bank's risk taking activities, and the regulatory environment. In particular, the Lerner Index provides evidence that market power decreases efficiency. The capital adequacy, the supervisory power and the market discipline were all found to improve efficiency. Additionally, when the risk is measured by the Z-Score or even by the ratio of non-performing loans to total loans, it adversely affects efficiency.

Research limitations/implications

– The results of the current study have important implications for regulators and supervisors. Promoting banks’ competitive environment in the GCC countries through reducing the information barriers to entry, encouraging bank privatization, and lowering the activities restrictions can potentially improve operational efficiency of banks. Also enhancing banks’ diversification activities and risk management techniques may have the advantage of increasing operational efficiency. Furthermore, improvements in the regulatory conditions that enhance banking supervision and monitoring would also improve efficiency.

Originality/value

– The main contributions of the paper are threefold: first, to the knowledge, this study is the first to employ by far the most comprehensive data set of GCC banks investigated to date. Second, the analysis focusses on the influence of a wide set of factors, most of them was not covered before in related economic literature on bank efficiency of the GCC countries. Third, the methodological innovation involves applying a double bootstrap procedure proposed by Simar and Wilson (2007).
Interaction with external agents, innovation networks, and innovation capability: the case of Uruguayan software firms
Authors: Saenz Josune , Pérez-Bouvier Andrea
Published: May 2014

Purpose

–The aim of this paper is to disentangle the interplay between nurturing interaction with external agents, innovation networks, and innovation capability. In particular, the paper argues that nurturing interaction with external agents (by means of participation in different events that allow face-to-face interaction, or via collaborative technology) positively affects the innovation capability of firms by allowing the development of innovation networks and making them run smoothly.

Design/methodology/approach

–For this to be tested, an analysis has been carried out in Uruguayan software firms. A questionnaire was designed and addressed to the managers of the firms making up the target population. Structural equation modeling (SEM) based on partial least squares (PLS) was then applied to test the hypotheses put forward by the research.

Findings

–The results obtained show that nurturing interaction with external agents has a positive and significant influence both on the formation of innovation networks and on their operational performance. This influence is much stronger when it comes to ensuring the smooth operation of the network than when it comes to facilitating its formation. Moreover, innovation networks and their functioning clearly mediate the relationship between interaction with external agents and innovation capability.

Research limitations/implications

–Traditional limitations of cross-sectional studies apply.

Originality/value

–Although previous literature highlights the relevance of social interaction for the creation of new knowledge and subsequent innovation, the role of mediating variables has been hardly considered. This research helps to shed some light on this issue in the case of social interaction with external agents. In particular, the mediating role of innovation networks has been analyzed.
Measuring the risk of knowledge drain in communities of practice
Authors: Lee Suchul , Suh Euiho , Lee Modeum
Published: May 2014

Purpose

–The aim of this paper is to develop a metric that quantitatively measures the risk of knowledge drain associated with the departure of a member in communities of practice (CoP).

Design/methodology/approach

–This paper considers two possible cases in which departure of a member has a high risk of causing knowledge drain: when the member is a network leader, and when the member is an isolated expert. Network analysis is used to identify network influence of each member. The proposed metric is designed considering network influence and knowledge level of individual members, and applied to a case study using real-world data from an online CoP.

Findings

–This paper demonstrates that the proposed metric properly provides information about the members whose departure could cause serious damage to the CoP because of their strong influence or their inactivity in the network. The metric enables practitioners to identify critical members, and to enact precautions to reduce the vulnerability of the CoP.

Originality/value

–Compared to the threat of knowledge drain, few studies have attempted to measure the risk associated with departure of a member. This study has developed a metric to measure the risk of knowledge drain in a CoP. The approach and methods of this paper offer a foundation for designing assessment methods for knowledge networks and provide new insights into quantitative research in knowledge management.
Identification, emergence and filling of organizational knowledge gaps: a retrospective processual analysis
Authors: Haider Sajjad
Published: May 2014

Purpose

–The purpose of this paper is to analyze the processes of identification, emergence and filling of organizational knowledge gaps over an extended period of time, using the strategy in action perspective. Specifically, it aims to explore the nature and types of knowledge gaps, to capture their changes and to shed some light on the processes of filling knowledge gaps.

Design/methodology/approach

–The study is based on two case studies and adopts a processual approach. It analyses 40 years of data collected using secondary sources and semi-structured interviews over a period of two years and identifies critical organizational events both in retrospect and real time.

Findings

–The findings show that the two case study companies have identified a number of knowledge gaps over the 40 years period. Changes in the nature and type of knowledge gaps are identified and discussed in detail leading to a new taxonomy of organisational knowledge gaps. The findings report that knowledge gaps emerge due to changes in both exogenous and endogenous conditions over time. The filling of those gaps depends on a number of factors. Among these, the ability to make a distinction between “strategic” and “imposed” knowledge gaps and the ability to build absorptive capacity within a stipulated time frame have a predominant role.

Research limitations/implications

–The respondents were asked to look back into the history of their company using their memory of events to provide explanations surrounding critical organizational events. Since some of the respondents had not witnessed all of the events in question, their responses were at times based on hearsay. However, every effort was made to check the authenticity of the respondents ' explanations, such as using a range of sources and discussing the events with respondents at different hierarchical levels of the company.

Practical implications

–This study provides examples of knowledge in practice and puts forward a new taxonomy of knowledge gaps which can help managers to deal with imposed and strategic knowledge requirements. Specifically, this study equips managers with tools on how to devise their knowledge strategy, how to identify their knowledge requirements and what are different sources (internal and external) which they can explore to fill those knowledge gaps.

Originality/value

–The paper builds on the strategy in practice perspective, which stresses the need for further studies to link theoretical frameworks with practical solutions. In this respect, this paper attempts to make sense of organizational knowledge theory by applying it in real life business situations and by unearthing the concept and usage of knowledge gaps. The use of a retrospective processual approach to study changes in organizational knowledge requirements over time is another interesting aspect of this research. Finally, the paper provides a new taxonomy of organizational knowledge gaps.
From relevance to relevate
Authors: Chia Robert
Published: May 2014

Purpose

– The purpose of this paper is to tease out the real value-adding contributions university-based business schools can make to the business community and to society at large without compromising in any way its own ethos of academic rigour and scholarship in seeking knowledge and understanding for its own sake.

Design/methodology/approach

– This is a discursive discussion piece that excavates and examines the philosophical and historical underpinnings of universities as places of “higher” learning with a view to interrogating and clarifying the unique role university business schools can play in straddling the university/industry nexus. It draws from the author's extensive hands-on experiences in business, from the author's philosophical interests honed in academia, and from the author's wide-ranging experiences of being involved in bespoke executive education provision for senior business practitioners in large multinational corporations.

Findings

– The paper concludes with the view that paradoxically, university-based business schools must resist the temptation to capitulate to the demands to teach only what appears immediately “relevant” to the business world in order to be actually useful to business. Instead, they must rigourously seek to expand horizons of comprehension amongst students and business executives through the process of relevating the seemingly irrelevant. This way they can genuinely help prepare students and business executives for the challenges and exigencies of a dynamic and fast-changing world.

Research limitations/implications

– The paper points to a need for reframing and refocusing the aims and agenda of management education such that greater pedagogical priority is placed on refining perceptual sensibilities and expanding horizons of comprehension over that of content-knowledge dissemination.

Practical implications

– Business schools will have to revise their curriculum from a conventional emphasis on teaching functional business disciplines to include drawing from the wider humanities fields of study in order to emphasize the cultivation of aesthetic sensibilities and a deeper awareness of underlying global trends, patterns of relationships and social forces shaping business priorities and perceptions.

Social implications

– An enhanced sensitivity and awareness of the interrelatedness of socio-political, cultural and economic contexts, and managerial situations leads to more effective executive decision making that is economically sustainable, ethically informed and more attuned to the collective common good.

Originality/value

– There has been much debate surrounding the rigour/relevance issue within business schools. This paper shows that this false distinction is created by an insufficient examination of the underlying commonality mutually shared by both the very best of rigourous scholarship and the very best of business practices.
Putting policy initiatives into practice
Authors: Ingirige Bingunath , Wedawatta Gayan
Published: May 2014

Purpose

– Amidst the current economic climate, which places many constraints on expensive flood defence schemes, the policy makers tend to favour schemes that are sympathetic to the needs of small and medium-sized enterprises (SMEs) and which promote empowering local communities based on their individual local contexts. Research has shown that although several initiatives are in place to create behavioural change among SMEs in undertaking adaptation approaches against flooding, they often tend to delay their responses by means of a “wait and see” attitude. The paper aims to discuss these issues.

Design/methodology/approach

– This paper argues that unless there are conscious efforts in the policy-making community to undertake explicit measures to engage with SMEs in a collaborative way, the uptake of adaptation measures will not be achieved as intended. With the use of the “honest broker” approach the paper provides a conceptual way forward of how a sense of collaboration can be instigated in an engagement process between the policy makers and SMEs, so that the scientific knowledge is translated in an appropriately rational way, which best meets the expectations of the SMEs.

Findings

– The paper proposes a conceptual model for engaging SMEs that will potentially increase the uptake of flood adaptation measures by SMEs. This could be a useful model with which to kick start a collaborative engagement process that could escalate to wider participation in other areas to improve impact of policy initiatives.

Originality/value

– The paper lays the conceptual foundation for a new theoretical base in the area, which will encourage more empirical investigations that will potentially enhance the practicality of some of the existing policies.
Strategies for integrating design and construction and operations and maintenance supply chains in Singapore
Authors: Y.Y. Ling Florence , G.Y. Toh Benjamin , Kumaraswamy Mohan , Wong Kelwin
Published: May 2014

Purpose

– The purpose of this paper is to investigates strategies for achieving better integration between the design and construction (DC) and operation and maintenance (OM) supply chains in Singapore. The specific objectives are to: discover the goals that stakeholders want to achieve in integrating the supply chains; identify the stakeholders that play important integration role in each supply chain; and investigate the effective strategies that may yield better integration of the supply chains.

Design/methodology/approach

– Data were collected using a structured questionnaire. The sampling frame was Singapore-based clients, consultants and construction firms involved in developing and managing built facilities.

Findings

– The most important strategies for integrating the supply chains are: sharing relevant information and addressing sustainability issues jointly with DC and OM teams; and integrating life cycle optimization options in DC and OM supply chains.

Research limitations/implications

– The limitations include low response rate, and the subjective nature of a Likert scale which was used to rate importance levels. The research implication is that activities in DC and OM supply chains can indeed be integrated, and this leads to higher value for all stakeholders.

Practical implications

– The practical implication is that stakeholders could adopt the effective strategies identified by this study to foster closer integration of the two supply chains in Singapore. Teams from both supply chains need to work jointly instead of consecutively. Sharing information through an online platform by setting up a web-based database may help in their collaboration. It is also important that common goals need be set out at the onset, preferably by clients of built facilities, with strong buy-in by main contractors and consultants, so as to achieve better value.

Originality/value

– The study revealed effective strategies for integrating DC and OM supply chains.
Application of the concept of cost benefits analysis (CBA) to property level flood risk adaptation measures
Authors: Joseph Rotimi , Proverbs David , Lamond Jessica , Wassell Peter
Published: May 2014

Purpose

– There has been a significant increase in flooding in the UK over the past ten years. During this time, Government policy has moved from investment in flood defences towards encouraging property owners to take responsibility for reducing the impact of flooding. One of the ways in which this can be achieved is for homeowners to adapt their properties to flood risk by implementing property level flood risk adaptation (PLFRA) measures. While there has been some attempt to develop an understanding of the benefits of such measures, these previous studies have their limitations in that the intangible benefits have not been fully considered. As such, there remains a need for further development of these studies towards developing a more comprehensive understanding of PLFRA measures. It is against this background the purpose of this paper is to present a conceptual cost benefit analysis (CBA) framework for PLFRA measure. This framework brings together the key parameters of the costs and benefits of adapting properties to flood risk including the intangible benefits, which have so far been overlooked in previous studies.

Design/methodology/approach

– A critical review of the standard methods and existing CBA models of PLFRA measures was undertaken. A synthesis of this literature and the literature on the nature of flooding and measures to reduce and eliminate their impacts provides the basis for the development of a conceptual framework of the costs and benefits of PLFRA measures. Within the developed framework, particular emphasis is placed on the intangible impacts, as these have largely been excluded from previous studies in the domain of PLFRA measures.

Findings

– The framework provides a systematic way of assessing the costs and benefits of PLFRA measures. A unique feature of the framework is the inclusion of intangible impacts, such as anxiety and ill health, which are known to be difficult to measure. The study proposes to implement one of the stated preference methods (SPM) of valuation to measure these impacts, known as the willingness to pay method, as part of a survey of homeowners. The inclusion of these intangible impacts provides the potential to develop a more comprehensive understanding of the benefit cost ratio (BCR) for different stakeholders. The newly developed CBA conceptual framework includes four principal components: the tangible benefits to insurers; the tangible benefits to the government; the tangible benefits to homeowners; and the intangible benefits to homeowners.

Originality/value

– This tool offers the potential to support government policy concerned with increasing the uptake of PLFRA measures through increasing the information available to homeowners and thereby supporting the decision-making process.
“Charmingly delicious”: childhood obesity and General Mills’ dilemma
Authors: Yordy Eric D. , Paden Nita , Bryant Katlin
Published: May 2014

Synopsis

In 2010, approximately one-third of US children and adolescents were classified as at least overweight, with 17 percent classified as obese. In addition to other causes, the marketing and advertising of food directly to children was identified by a Task Force on Childhood Obesity as a contributing factor. As a result, food industries began to self-regulate. Consumer advocacy organizations developed guidelines for advertising products targeted to children. Cereal companies, such as General Mills (GM), struggled with whether or not to adopt those standards. GM began to change both marketing and product advertising in small ways. The changes were considered steps in the right direction but GM continued to be under scrutiny of advocacy groups. This case addresses the struggle of General Mills to make changes to product nutritional content and/or marketing and to address the societal concern about childhood obesity while also meeting responsibilities to consumers and shareholders.

Research methodology

The case was researched utilizing secondary data – all materials are readily available to the public. There is no disguise of any actual person or entity and no relationship between the authors and the organizations or individuals mentioned in the case. Frequent sources include the General Foods, Children's Food and Beverage Advertising Initiative and Center for Science in the Public Interest web pages.

Relevant courses and levels

This case could be used at an undergraduate or graduate level. Legal Environment of Business, Business Ethics and any Marketing course.

Theoretical basis

The ethics frameworks in most business law or ethics textbooks may be used to discuss the dilemma identified in this case. This Instructor's Manual uses Hosmer's model. Hosmer (2008), The Ethics of Management: A Multidisciplinary Approach, 7th ed.
Beta diversity among prairie restorations increases with species pool size, but not through enhanced species sorting
Authors: Grman Emily , Brudvig Lars A.
Published: May 2014

Understanding variation in community composition across space, or beta diversity, is of longstanding interest in ecology, yet the determinants of beta diversity remain poorly known. In part, this results from a lack of manipulative tests of hypothesized drivers. The size of species pools is one putative driver, but few studies have provided a direct test of this mechanism through manipulation of clearly defined species pools independent of local communities. Furthermore, we know little about underlying mechanisms, such as enhanced species sorting, or whether a species pool size‐beta diversity relationship is scale‐dependent or modified by environmental conditions.

Here, we evaluate 29 prairie plant communities restored from bare soil with known species pools (seed mixes) to address those questions. To address the generality of beta diversity drivers across scales, we investigated how the size of species pools during restoration influenced beta diversity in the plant community at two scales: among prairies and within prairies (among plots).

Among a group of prairies sown with larger species pools, among‐site beta diversity was greater than among a group of prairies assembled from smaller pools, but not because of enhanced species sorting. We found an interaction between species pool size and an environmental filter, whereby beta diversity was higher among prairies restored with species‐rich seed mixes, but only when soil moisture was also high. We detected neither greater beta diversity nor stronger species sorting among plots within prairies sown with species‐rich mixes.

Synthesis. This work provides what is to our knowledge the first large‐scale manipulative test of how species pool size influences beta diversity. We found higher beta diversity among restored prairies sown with species‐rich seed mixes, but little evidence for species sorting as a causal mechanism. Our results, based on manipulated real‐world communities, provide an important link between previous theoretical and observational studies and small‐scale experimental approaches. Of applied importance, our findings show that by creating communities of high beta diversity, ecological restoration can counteract widespread anthropogenic biotic homogenization.
Seeing the trees for the forest: drivers of individual growth responses to climate in Pinus uncinata mountain forests
Authors: Galván Juan Diego , Camarero Jesús Julio , Gutiérrez Emilia
Published: May 2014

Individual trees, not forests, respond to climate. Such an individual‐scale approach has seldom been used to retrospectively track the radial growth responses of trees to climate in dendrochronology. The aim of this study was to adopt this individual view to retrospectively assess tree sensitivity to climate warming, and to evaluate and compare the potential drivers of tree growth responses to climate acting at species, site and individual scales.

Following a dendroecological framework, we sampled a network of 29 Pinus uncinata forests in NE Spain and obtained tree‐ring widths series from 642 trees. Individual features as northness, elevation, slope, basal area, sapwood area, tree height and tree age were used to evaluate the potential drivers of tree growth responses to climate. The analysed data set includes diverse ecological and biogeographical conditions. The tree growth responses to climate were assessed by relating growth indices to climatic variables using linear‐mixed effects models.

Maximum November temperatures during the year prior to tree‐ring formation enhanced P. uncinata growth mainly in mid‐elevation sites, whereas at higher elevations growth was more dependent on the positive effect of warmer minimum May temperatures during the year of tree‐ring formation. Current June precipitation was the positive main climatic driver of growth in sites prone to water deficit such as the southernmost limit of the species distribution area or very steep sites. Elevation was the main factor controlling how much growth variability is explained by climate at the site and tree scales. Climate warming was more intense during the early 20th century, when the importance of elevation as an indirect modulator of growth declined as compared with the late 20th century.

Synthesis. The individual‐scale approach taken in this study allowed detecting that trees growing at southern and low‐elevation sites were the most negatively affected by warm and dry summer conditions. Our results emphasize that both (i) an individual‐scale approach to quantify tree growth responses to climate and (ii) a detailed evaluation of the potential biotic and abiotic drivers of those individual responses are necessary to understand climate sensitivity of trees.
Molecular mechanisms of ageing and related diseases
Authors: Liu Jun‐Ping
Published: May 2014

Human and other multicellular life species age, and ageing processes become dominant during the late phase of life. Recent studies challenge this dogma, suggesting that ageing does not occur in some animal species. In mammals, cell replicative senescence occurs as early as before birth (i.e. in embryos) under physiological conditions. How the molecular machinery operates and why ageing cells dominate under some circumstances are intriguing questions. Recent studies show that cell ageing involves extensive cellular remodelling, including telomere attrition, heterochromatin formation, endoplasmic reticulum stress, mitochondrial disorders and lysosome processing organelles and chromatins. This article provides an update on the molecular mechanisms underlying the ageing of various cell types, the newly described developmental and programmed replicative senescence and the critical roles of cellular organelles and effectors in Parkinson's disease, diabetes, hypertension and dyskeratosis congenita.
Role of microRNA machinery in kidney fibrosis
Authors: Wang Bo , Ricardo Sharon
Published: May 2014

MicroRNAs (miRNAs) are small non‐coding RNAs that are critical regulators of gene expression at the post‐transcriptional level. The miRNAs constitute an abundant class of RNAs conserved from plants to animals and, as such, play key roles in diverse biological processes, including inflammation, development, differentiation and apoptosis. More recently, it has become apparent that changes in miRNA expression contribute to a wide spectrum of human pathologies, including heart and kidney disease, organ developmental abnormalities and neuronal degeneration. Moreover, inflammation and the development of kidney fibrosis is accompanied by changes in miRNA expression. This review summarizes the emerging field deciphering the complex connections between human miRNA biology and different aspects of kidney injury, focusing on kidney fibrosis. The miRNA‐regulated fibrosis is discussed based on the classification of pivotal mechanisms, notably involving the transforming growth factor‐β1 signalling pathway. In addition, the challenge of miRNA delivery vehicles as mechanisms of cellular transfer are reviewed, as is the use of miRNA as a potential biomarker for disease.
Natriuretic peptide clearance receptor ligand (C‐ANP4–23) attenuates angiogenesis in a murine sponge implant model
Authors: Almeida Simone A , Cardoso Cibele C , Orellano Laura AA , Reis Adelina M , Barcelos Lucíola S , Andrade Silvia P
Published: May 2014

Natriuretic peptide receptor‐C activation by the synthetic ligand C‐ANP‐4–23, a specific agonist for this receptor, has been shown to inhibit key events of the angiogenic cascade, such as migration, proliferation and vascular endothelial growth factor (VEGF) production. In the present study we investigated whether C‐ANP4–23 could also inhibit angiogenesis in the sponge model in vivo. To this end, we evaluated the effects of C‐ANP4–23 on inflammatory and angiogenic components of the fibrovascular tissue induced by polyether polyurethane sponge implants in mice. Measurements of the haemoglobin content (μg/mg wet tissue) and blood flow (laser Doppler perfusion imaging) of the implants, used as an index of vascularization, revealed that single (200 ng) or multiple (200 ng/day, 5 days) doses of C‐ANP4–23 reduced angiogenesis in the implants relative to the phosphate‐buffered saline‐treated group. The peptide exerted an inhibitory effect on nitric oxide production (nitrite levels) and had a dual effect on VEGF levels, depending on the number of doses (i.e. stimulation at 4 days after one dose; inhibition at 7 days after five doses). Histological analysis corroborated the biochemical and functional parameters indicative of inhibition of neovascularization (decreased vessel number) by C‐ANP4–23. The peptide failed to modulate inflammation in our system. The inhibitory effect of C‐ANP4–23 on the angiogenic component of the fibrovascular tissue induced by the synthetic matrix extends the range of the its actions and may indicate its therapeutic potential in controlling angiogenesis in fibroproliferative diseases.
Asymmetric dimethylarginine does not inhibit arginase activity and is pro‐proliferative in pulmonary endothelial cells
Authors: Chen Bernadette , Strauch Krista , Jin Yi , Cui Hongmei , Nelin Leif D , Chicoine Louis G
Published: May 2014

Asymmetric dimethylarginine (ADMA) is an endogenously produced nitric oxide synthase (NOS) inhibitor. l‐Arginine can be metabolised by NOS and arginase, and arginase is the first step in polyamine production necessary for cellular proliferation. We tested the hypothesis that ADMA would inhibit NOS but not arginase activity and that this pattern of inhibition would result in greater l‐arginine bioavailability to arginase, thereby increasing viable cell number. Bovine arginase was used in in vitro activity assays with various concentrations of substrate (l‐arginine, ADMA, NG‐monomethyl‐l‐arginine (L‐NMMA) and NG‐nitro‐l‐arginine methyl ester (l‐NAME)). Only l‐arginine resulted in measurable urea production (Km = 6.9 ± 0.8 mmol/L; Vmax = 6.6 ± 0.3 μmol/mg protein per min). We then incubated bovine arginase with increasing concentrations of ADMA, l‐NMMA and l‐NAME in the presence of 1 mmol/L l‐arginine and found no effect of any of the tested compounds on arginase activity. Using bovine pulmonary arterial endothelial cells (bPAEC) we determined the effects of ADMA on nitric oxide (NO) and urea production and found significantly lower NO production and greater urea production (P < 0.003) with ADMA, without changes in arginase protein levels. In addition, ADMA treatment resulted in an approximately 30% greater number of viable cells after 48 h than in control bPAEC. These results demonstrate that ADMA is neither a substrate nor an inhibitor of arginase activity and that in bPAEC ADMA inhibits NO production and enhances urea production, leading to more viable cells. These results may have pathophysiological implications in disorders associated with higher ADMA levels, such as pulmonary hypertension.
Individual fishing quotas and fishing capacity in the US Gulf of Mexico red snapper fishery
Authors: Solís Daniel , del Corral Julio , Perruso Lawrence , Agar Juan J.
Published: May 2014

Overcapacity (OC) and excess capacity (EC) are serious obstacles affecting the sound management of commercial fisheries around the world. The use of individual fishing quotas (IFQs) has been proposed as a promising management tool to cope with these challenges. However, the empirical evidence on the efficacy of this instrument is scarce. Drawing on a stochastic distance frontier analysis, we investigate the impact of the US Gulf of Mexico red snapper IFQ program on fishing capacity, capacity utilisation (CU) and OC. The paper also offers an alternative approach to compute species‐specific capacity measurements for multispecies fisheries. Our findings show that following the introduction of the IFQ program, fishing capacity decreased, primarily due to the exit of a large number of fishing vessels. CU increased marginally indicating modest decreases in EC. Conversely, we find that OC remains high. Our estimates suggest that about one‐fifth of the actual fleet could harvest the entire quota.
The Effects of Fiscal Policy in New Zealand: Evidence from a VAR Model with Debt Constraints
Authors: Parkyn Oscar , Vehbi Tugrul
Published: May 2014

This article investigates the macroeconomic effects of fiscal policy in New Zealand using a structural vector autoregression (SVAR) model. The model is the five‐variableSVARframework proposed by Perotti (2005), further augmented to allow for the possibility that taxes, spending and interest rates might respond to the level of the debt over time. We examine the dynamic responses of output, inflation and the interest rate to changes in government spending and revenues and analyse the contribution of shocks to New Zealand's business cycle for the period 1983:1–2010:2. We find that the effects of government expenditure shocks in New Zealand appear to be positive but small in the short run at the cost of higher interest rates and lower output in the medium to long run. The sign of the effects of tax policy changes are less clear‐cut, but again the effects onGDPappear similarly modest. Past fiscal policy is analysed through a historical decomposition of the shocks in the model. This suggests that discretionary fiscal policy has had a generally pro‐cyclical impact onGDPover the past 15 years, and a material impact on the real long‐term interest rate. A fiscal expansion has a positive but limited impact on inflation.
Comparison of hand‐assisted laparoscopy with open total colectomy for slow transit constipation: A retrospective study
Authors: Sheng Qin Song , Lin Jian Jiang , Chen Wen Bin , Liu Fan Long , Xu Xiang Ming , Hua Han Ju , Lin Cai Zhao , Wang Jin Hai
Published: May 2014

Objective

To compare the efficacy and safety of hand‐assisted laparoscopic colectomy (HALC) and open colectomy (OC) for patients with slow transit constipation (STC).

Methods

Data of patients with STC who underwent total colectomy from January 2008 to December 2012 were retrospectively reviewed after clinical evaluation and an exclusion of secondary causes. These patients were further divided into the HALC and OC groups. Patients' outcomes, including intraoperative and postoperative data on their recovery and complications were compared between the two groups.

Results

A total of 68 patients with STC were finally enrolled in the study, including 32 in the HALC group and 36 in the OC group. The baseline characteristics did not significantly differ between the two groups. Compared with the OC group, patients in the HALC group had a shorter length of incision, a longer operative time and less blood loss volume. There was no conversion to OC for patients undergoing HALC and no intraoperative complications in both groups. Furthermore, after operation, patients in HALC group experienced less pain (3.4 ± 0.7 vs 4.8 ± 1.0), earlier first passage of flatus (58.3 ± 6.3 h vs 73.4 ± 13.0 h), shorter length of postoperative hospital stay (8.8 ± 1.2 days vs 11.3 ± 1.7 days) but higher medical cost (RMB 33 979 ± 3 135 vs RMB 29 828 ± 3 216). The overall postoperative complications and the satisfaction in defecation were comparable in the two groups.

Conclusion

HALC is a safe, minimally invasive and effective surgical alternative for treating STC, which is comparable to OC.
Estimating population size in the presence of temporary migration using a joint analysis of telemetry and capture–recapture data
Authors: Bird Tomas , Lyon Jarod , Nicol Simon , McCarthy Michael , Barker Richard
Published: May 2014

Temporary migration – where individuals can leave and re‐enter a sampled population – is a feature of many capture–mark–recapture (CMR) studies of mobile populations which, if unaccounted for, can lead to biased estimates of population capture probabilities and consequently biased estimates of population abundance.

We present a method for incorporating radiotelemetry data within a CMR study to eliminate bias due to temporary migration using a Bayesian state‐space model.

Our results indicate that using a relatively small number of telemetry tags, it is possible to greatly reduce bias in estimates of capture probabilities using telemetry data to model transition probabilities in and out of the sampling area. In a capture–recapture data set for trout Cod in the Murray river, Australia, accounting for temporary migration led to overall higher estimates of capture probabilities than models assuming permanent or zero migration. Also, individual heterogeneity in detectability can be managed through explicit modelling. We show how accounting for temporary migration when estimating capture probabilities can be used to estimate the abundance and size distribution of a population as though it were closed.

Our model provides a basis for more complex models that might integrate telemetry data into other CMR scenarios, thus allowing for greater precision in estimates of vital rates that might otherwise be biased by temporary migration. Our results highlight the importance of accounting for migration in survey design and parameter estimation, and the potential scope for supplementing large‐scale CMR data sets with a subset of auxiliary data that provide information on processes that are hidden to primary sampling processes.