bluuebunny/crossref_metadata_2025 huggingface dataset:
Cultural evolution of military camouflage
Authors: Talas Laszlo , Baddeley Roland J. , Cuthill Innes C.
Published: May 2017

While one has evolved and the other been consciously created, animal and military camouflage are expected to show many similar design principles. Using a unique database of calibrated photographs of camouflage uniform patterns, processed using texture and colour analysis methods from computer vision, we show that the parallels with biology are deeper than design for effective concealment. Using two case studies we show that, like many animal colour patterns, military camouflage can serve multiple functions. Following the dissolution of the Warsaw Pact, countries that became more Western-facing in political terms converged on NATO patterns in camouflage texture and colour. Following the break-up of the former Yugoslavia, the resulting states diverged in design, becoming more similar to neighbouring countries than the ancestral design. None of these insights would have been obtained using extant military approaches to camouflage design, which focus solely on concealment. Moreover, our computational techniques for quantifying pattern offer new tools for comparative biologists studying animal coloration.

This article is part of the themed issue ‘Animal coloration: production, perception, function and application'.
Interactions between colour-producing mechanisms and their effects on the integumentary colour palette
Authors: Shawkey Matthew D. , D'Alba Liliana
Published: May 2017

Animal integumentary coloration plays a crucial role in visual communication and camouflage, and varies extensively among and within species and populations. To understand the pressures underlying such diversity, it is essential to elucidate the mechanisms by which animals have created novel integumentary coloration. Colours can be produced by selective absorption of light by skin pigments, through light scattering by structured or unstructured tissues, or by a combination of pigments and nanostructures. In this review, we highlight our current understanding of the interactions between pigments and structural integumentary tissues and molecules. We analyse the available evidence suggesting that these combined mechanisms are capable of creating colours and optical properties unachievable by either mechanism alone, thereby effectively expanding the animal colour palette. Moreover, structural and pigmentary colour mechanisms frequently interact in unexpected and overlooked ways, suggesting that classification of colours as being of any particular type may be difficult. Finally, we discuss how these mixtures are useful for investigating the largely unknown genetic, developmental and physical processes generating phenotypic diversity.

This article is part of the themed issue ‘Animal coloration: production, perception, function and application’.
Identity-by-descent refines mapping of candidate regions for preaxial polydactyly in a large Chinese pedigree
Authors: Yang Xingyan , Shen Quankuan , Sulaiman Xierzhatijiang , Liu Hequn , Peng Minsheng , Zhang Yaping
Published: May 2017

Preaxial polydactyly (PPD) is congenital hand malformation characterized by the duplication of digit. Herein, we scan the genome-wide SNPs for a large Chinese family with PPD-II/III. We employ the refined IBD algorithm to identify the identity-by-decent (IBD) segments and compare the frequency among the patients and normal relatives. A total of 72 markers of 0.01 percentile of the permutation are identified as the peak signals. Among of them, 57markers locate on chromosome 7q36 which is associated with PPD. Further analyses refine the mapping of candidate region in chromosome 7q36 into two 380 Kb fragments withinLMBR1andSHHrespectively. IBD approach is a suitable method for mapping cause gene of human disease. Target-enrichment sequencing as well as functional experiments are required to illustrate the pathogenic mechanisms for PPD in the future.
The Small β-barrel Domain: A Survey-based Structural Analysis
Authors: Youkharibache Philippe , Veretnik Stella , Li Qingliang , Stanek Kimberly A. , Mura Cameron , Bourne Philip E.
Published: May 2017

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The small β-barrel is an ancient protein structural domain characterized by extremes: It features an extremely broad range of structural varieties, a deeply intricate evolutionary history, and it is associated with a bewildering array of biomolecular pathways and physiological functions. These and related features of this domain are described and analyzed herein. Specifically, we present a comprehensive, survey-based analysis of the structural properties of small β-barrels (SBBs). We first consider the defining characteristics of the SBB fold, as well as the various systems of nomenclature used to describe it. In order to begin elucidating how such vast functional diversity is achieved by a relatively simple protein domain, we then explore the anatomy of the SBB fold and some of its representative structural variants. Many types of SBB proteins assemble into cyclic oligomers that act as the biologically-functional entity. These oligomers exhibit a great deal of plasticity even at the quaternary structural level—including homomeric and heteromeric assemblies, rings of variable subunit stoichiometries (pentamer, hexamer, etc.), as well as higher-order oligomers (e.g., double-rings) and fibrillar polymers. We conclude with three themes that emerge from the SBB’s unique structure↔function versatility.
Correlated individual differences suggest a common mechanism underlying metacognition in visual perception and visual short-term memory
Authors: Samaha Jason , Postle Bradley R.
Published: May 2017

Adaptive behavior depends on the ability to accurately introspect about one’s own performance. Whether this metacognitive ability is supported by the same mechanisms across different tasks has thus far been investigated with a focus on correlating metacognitive accuracy between perception and long-term memory paradigms. Here, we investigated the relationship between metacognition of visual perception and metacognition of visual short-term memory (VSTM), a cognitive function thought to be more intimately related to visual processing. Experiments 1 and 2 required subjects to estimate the perceived or remembered orientation of a grating stimulus and rate their confidence. We observed strong positive correlations between individual differences in metacognitive accuracy between the two tasks. This relationship was not accounted for by individual differences in task performance or average confidence, and was present across two different metrics of metacognition and in both experiments. A model-based analysis of data from a third experiment showed that a cross-domain correlation only emerged when both tasks shared the same task-relevant stimulus feature. That is, metacognition for perception and VSTM were correlated when both tasks required orientation judgments, but not when the perceptual task was switched to require contrast judgments. In contrast to previous results comparing perception and long-term memory, which have largely provided evidence for domain-specific metacognitive processes, the current findings suggest that metacognition of visual perception and VSTM is supported by a domain-general metacognitive architecture, but only when both domains share the same task-relevant stimulus feature.
Influence of drought stress on Alfalfa yields and nutritional composition
Authors: Liu Yinghao , Wu Qian , Ge Gentu , Han Guodong , Jia Yushan
Published: May 2017

It is predicted that climate change may increase the risk of local droughts, with severe consequences for agricultural practices. Here we report the influence of drought on alfalfa yields and its nutritional composition, based on artificially induced drought conditions during two field experiments. Two types of alfalfa cultivars were compared, Gold Queen and Suntory. The severity and timing of a drought period was varied, and the crop was harvested either early during flowering stage, or late at full bloom. The obtained dry mass yields of Gold Queen were higher than Suntory, and the first was also more resistant to drought. Early harvest resulted in higher yields. Decreases in yields due to water shortage were observed with both cultivars, and the fraction of crude protein (CP) decreased as a result of drought stress; this fraction was higher in Gold Queen than in Suntory and higher in early harvest compared to late harvest. Severe drought late in spring had the highest effect on CP content. The fraction of fibre, split up into neutral detergent fibre (NDF) and acid detergent fibre (ADF) increased as a result of drought and was lower in early harvested plants compared to late harvest. Suntory alfalfa produced higher fibre fractions than Gold Queen. The fraction of water-soluble carbohydrates (WSC) was least affected by drought. It was consistently higher in Gold Queen compared to Suntory alfalfa, and late harvest resulted in higher WSC content. In combination, these results suggest that the nutritive value of alfalfa will likely decrease after a period of drought. These effects can be partly overcome by choosing the Gold Queen cultivar over Suntory, by targeted irrigation, in particular in late spring, and by harvesting at an earlier time.
Identification of a native novel oncolytic immunoglobulin on exfoliated colon epithelial cells: A bispecific heterodimeric chimera of IgA/IgG
Authors: Albaugh George P. , Dutta Sudhir K. , Iyengar Vasantha , Shami Samina , Lohani Althaf , Sainz Eduardo , Kessie George , Nair Prasanna , Lagerholm Sara , Kamra Alka , Chen J-H Joshua , Kalavapudi Shilpa , Shores Robert , Phillips Laila E. , Nair Ram , Nair Padmanabhan P
Published: May 2017

Understanding the nature of cell surface markers on exfoliated colonic cells is a crucial step in establishing criteria for a normally functioning mucosa. We have found that colonic cells isolated from stool samples (SCSR-010 Fecal Cell Isolation Kit, NonInvasive Technologies, Elkridge, MD), preserved at room temperature for up to one week, with viability of >85% and low levels of apoptosis (8% - 10%) exhibit two distinct cell size subpopulations, in the 2.5μM– 5.0 μM and 5.0μM-8.0μM range. In addition to IgA, about 60% of the cells expressed a novel heterodimeric IgA/IgG immunoglobulin that conferred a broad-spectrum cell mediated cytotoxicity against tumor cells. In a cohort of 58 subjects the exclusive absence of this immunoglobulin in two African-Americans was suggestive of a germline deletion. Serial cultures in stem cell medium retained the expression of this heterodimer. Since a majority of the cystic cells expressed the stem cell markers Lgr5 and Musashi-1 we termed these cells as gastrointestinal progenitor stem cells (GIP-C**). CXCR-4, the cytokine co-receptor for HIV was markedly expressed. These cells also expressed CD20, IgA, IgG, CD45, and COX-2. We assume that they originated from mature columnar epithelium by dedifferentiation. Our observations indicate that we have a robust noninvasive method to study mucosal pathophysiology and a direct method to create a database for applications in regenerative medicine.
Notes On Synthesis Of Perdeutero-5-13C,5,5,5-Trifluoroisoleucine VI
Authors: Naugler David , Prosser Robert Scott
Published: May 2017

The 13CF3 group is a promising label for heteronuclear (19F,13C) NMR studies of proteins. Desirable locations for this NMR spin label include the branched chain amino acid methyl groups. It is known that replacement of CH3 by CF3 at such locations preserves protein structure and function and enhances stability. In particular, 13CF3 may be introduced at the δ position of isoleucine and incorporated biosynthetically in highly deuterated proteins. This paper reports our work in synthesis and purification of 5,5,5-trifluoroisoleucine, its perdeutero and 5-13C versions and of 2-13C-trifluoroacetate and its utility as a precursor for introduction of the 13CF3 group into proteins.
Automated Structural Variant Verification in Human Genomes using Single-Molecule Electronic DNA Mapping
Authors: Kaiser Michael D. , Davis Jennifer R. , Grinberg Boris S. , Oliver John S. , Sage Jay M. , Seward Leah , Bready Barrett
Published: May 2017

The importance of structural variation in human disease and the difficulty of detecting structural variants larger than 50 base pairs has led to the development of several long-read sequencing technologies and optical mapping platforms. Frequently, multiple technologies and ad hoc methods are required to obtain a consensus regarding the location, size and nature of a structural variant, with no approach able to reliably bridge the gap of variant sizes between the domain of short-read approaches and the largest rearrangements observed with optical mapping.

To address this unmet need, we have developed a new software package,SV-Verify™, which utilizes data collected with the Nabsys High Definition Mapping(HD-Mapping™) system, to perform hypothesis-based verification of putative deletions. We demonstrate that whole genome maps, constructed from electronic detection of tagged DNA, hundreds of kilobases in length, can be used effectively to facilitate calling of structural variants ranging in size from 300 base pairs to hundreds of kilobase pairs.SV-Verifyimplements hypothesis-based verification of putative structural variants using a set of support vector machines and is capable of concurrently testing several thousand independent hypotheses. We describe support vector machine training, utilizing a well-characterized human genome, and application of the resulting classifiers to another human genome, demonstrating high sensitivity and specificity for deletions ≥300 base pairs.
Re-evaluating evolution in the HIV reservoir
Authors: Rosenbloom Daniel I. S. , Hill Alison L. , Laskey Sarah B. , Siliciano Robert F.
Published: May 2017

Despite antiretroviral therapy (ART), a latent reservoir of replication-competent HIV-1 persists in resting memory CD4+T-cells and precludes cure1-6. Lorenzo-Redondoet al.7analyzed HIV-1 sequences collected from three individuals during the first six months of ART, discovered specific patterns of sequence evolution, and concluded that viral replication persists during therapy. We believe these evolutionary patterns are artifacts of rapidly decaying viral subpopulations present during the first months of therapy and are not characteristic of the long-lived reservoir. The study therefore provides no evidence that ongoing replication is an additional barrier to cure for treated individuals who consistently maintain low viral loads.
Distinct core promoter codes drive transcription initiation at key developmental transitions in a marine chordate
Authors: Danks Gemma B. , Navratilova Pavla , Lenhard Boris , Thompson Eric
Published: May 2017

Development is largely driven by transitions between transcriptional programs. The initiation of transcription at appropriate sites in the genome is a key component of this and yet few rules governing selection are known. Here, we used cap analysis of gene expression (CAGE) to generate bp-resolution maps of transcription start sites (TSSs) across the genome ofOikopleura dioica, a member of the closest living relatives to vertebrates. Our TSS maps revealed promoter features in common with vertebrates, as well as striking differences, and uncovered key roles for core promoter elements in the regulation of development. During spermatogenesis there is a genome-wide shift in mode of transcription initiation characterized by a novel core promoter element. This element was associated with > 70% of transcription in the testis, including the male-specific use of cryptic internal promoters within operons. In many cases this led to the exclusion oftrans-splice sites, revealing a novel mechanism for regulating which mRNAs receive the spliced leader. During oogenesis the cell cycle regulator, E2F1, has been co-opted in regulating maternal transcription in endocycling nurse nuclei. In addition, maternal promoters lack the TATA-like element found in vertebrates and have broad, rather than sharp, architectures with ordered nucleosomes. Promoters of ribosomal protein genes lack the highly conserved TCT initiator. We also report an association between DNA methylation on transcribed gene bodies and the TATA-box, which indicates that this ancient promoter motif may play a role in selecting DNA for transcription-associated methylation in invertebrate genomes.
Overtraining often results in topologically incorrect species trees with maximum likelihood methods
Authors: de Vienne Damien M. , Supek Fran , Gabaldon Toni
Published: May 2017

Background

Overtraining occurs when an optimization process is applied for too many steps, leading to a model describing noise in addition to the signal present in the data. This effect may affect typical approaches for species tree reconstruction that use maximum likelihood optimization procedures on a small sample of concatenated genes. In this context, overtraining may result in trees better describing the specific evolutionary history of the sampled genes rather than the sought evolutionary relationships among the species.

Results

Using a cross-validation-like approach on real and simulated datasets we showed that overtraining occurs in a significant fraction of cases, leading to species trees that are more distant from a gold-standard reference tree than a previously considered (and rejected) solution in the optimization process. However, we show that the shape of the likelihood curve is informative of the optimal stopping point. As expected, overtraining is aggravated in smaller gene samples and in datasets with increased levels of topological variation among gene trees, but occurs also in controlled, simulated scenarios where a common underlying topology is enforced.

Conclusions

Overtraining is frequent in species tree reconstruction and leads to a final tree that is worse in describing the evolutionary relationships of the species under study than an earlier (and rejected) solution encountered during the likelihood optimization process. This result should help develop specific methods for species tree reconstruction in the future, and may improve our understanding of the complexity of tree likelihood landscapes.
Single-Cell Reprogramming of Mouse Embryo Development Through a Critical Transition State
Authors: Tsuchiya Masa , Giuliani Alessandro , Yoshikawa Kenichi
Published: May 2017

Our work dealing with the temporal development of the genome-expression profile in single-cell mouse early embryo indicated that reprogramming occurs via a critical transition state, where the critical-regulation pattern of the zygote state disappears. In this report, we unveil the detailed mechanism of how the dynamic interaction of thermodynamic states (critical states) enables the genome system to pass through the critical transition state to achieve genome reprogramming.

Self-organized criticality (SOC) control of overall expression provides a snapshot of self-organization and explains the coexistence of critical states at a certain experimental time point. The time-development of self-organization is dynamically modulated by exchanges in expression flux between critical states through the cell nucleus milieu, where sequential global perturbations involving activation-inhibition of multiple critical states occur from the early state to the late 2-cell state. Two cyclic fluxes act as feedback flow and generate critical-state coherent oscillatory dynamics. Dynamic perturbation of these cyclic flows due to vivid activation of the ensemble of low-variance expression (sub-critical state) genes allows the genome system to overcome a transition state during reprogramming.

Our findings imply that a universal mechanism of long-term global RNA oscillation underlies autonomous SOC control, and the critical gene ensemble at a critical point (CP) drives genome reprogramming. Unveiling the corresponding molecular players will be essential to understand single-cell reprogramming.
Crystal structure of (3S*,4R*)-4-fluoro-3-(4-methoxyphenyl)-1-oxo-2-phenyl-1,2,3,4-tetrahydroisoquinoline-4-carboxylic acid
Authors: Lehmann Anna , Lechner Lisa , Radacki Krzysztof , Braunschweig Holger , Holzgrabe Ulrike
Published: May 2017

The title compound, C23H18FNO4, crystallized as a racemate. It exhibits a cis conformation with respect to the F atom and the methine H atom. The piperidine ring has a screw-boat conformation. The methoxyphenyl ring and the phenyl ring are inclined to the mean plane of the isoquinoline ring system by 89.85 (4) and 46.62 (5)°, respectively, and by 78.15 (5)° to one another. In the crystal, molecules are linked by an O—H...O hydrogen bond forming chains propagating along the a-axis direction. The chains are linked by C—H...F hydrogen bonds, forming layers lying parallel to the ab plane.
(2Z)-2-Benzylidene-4-octadecyl-3,4-dihydro-2H-1,4-benzothiazin-3-one
Authors: Sebbar Nada Kheira , Ellouz Mohamed , Lahmidi Sanae , Hlimi Fouzia , Essassi El Mokhtar , Mague Joel T.
Published: May 2017

The octadecyl chain in the title compound, C33H47NOS, is in the `fully extended' conformation. A puckering analysis of the thiazine ring was performed. The molecules form micellar blocks in the crystal by intercalation of the extended octadecyl chains and association of the dihydro benzothiazine units through C—H...O hydrogen bonds. These blocks are associated through intercalation of the pendant phenyl groups which reside on the outer edges of each block.
Clear, conspicuous, and improving
Authors: Lee Taejun (David)
Published: May 2017

Purpose

The economic downturn and financial meltdown in the changing retirement savings and pension landscape in the US placed individual investors and financial companies at risk. Recognizing the need for more financial literacy among investors, the US financial services companies for retirement plans and investment options (i.e. the retirement financial services providers (RFSPs)) have stepped up consumer marketing, particularly through creation of corporate websites. Seeing their potential for increasing literacy and aiding consumer financial decisions, a majority of RFSPs are promoting websites and a large number of consumers use them. With this backdrop, the purpose of this paper is to examine the use of these websites and their conformity to existing regulations regarding design and structure.

Design/methodology/approach

The present study used a quantitative content analysis to examine the types of disclosure information presented on the corporate websites of RFSPs during 2013-2015. It also examined the adherence to the Federal Trade Commission’s (FTC) clear and conspicuous standards (CCS) disclosure guidelines over the three-year period. Finally, this study examined the levels of financial literacy activities employed on 164 RFSPs’ websites over the three-year period.

Findings

This study shows that RFSPs are increasingly providing disclosure information for target consumers via their websites. Although problems still exist with the presentation of that material in terms of the FTC’s suggestions for prominence, there have been some improvements in compliance with proximity of disclosures. In addition, just under one-fourth of the RFSPs were providing tactics and features on their websites to potentially aid in the creation and maintenance of critical financial literacy and acumen.

Practical implications

The key point emerging from this analysis is that financial services providers, regulators, advocacy groups, and policymakers should continue to address varying levels of financial literacy activities to promote the deliberation and discussion of the retirement issues and topics across media while facilitating the provision and dissemination of financial information and data in a clear and conspicuous manner.

Originality/value

This is the first study to explore the content of RFSPs’ websites with regard to disclosure information, adherence to FTC CCS disclosure guidelines, and the use of techniques related to various levels of financial literacy from 2013-2015.
Credit card knowledge, social motivation, and credit card misuse among college students
Authors: Limbu Yam B.
Published: May 2017

Purpose

By applying the information-motivation-behavioral (IMB) skills model, the purpose of this paper is to examine the direct and indirect effects of credit card knowledge and social motivation on credit card misuse behavior mediated through credit card self-efficacy among college students in the USA.

Design/methodology/approach

A sample of 427 participants was surveyed. Structural equation modeling was used to assess the hypothesized model.

Findings

Credit card knowledge and social motivation were inversely associated with credit card misuse mediated through credit card self-efficacy. Credit card knowledge had a direct negative relationship with credit card misuse. The results confirm the theoretical relationships in the IMB model.

Practical implications

The results offer several implications for bank marketers and policy makers. The IMB model could be used to predict credit card abuse among college students; credit card literacy programs should incorporate strategies that can enhance students’ knowledge, social motivation, and behavioral skills with regard to responsible use of credit cards.

Originality/value

This study is unique in that it applies the IMB model to examine predictors of credit card misuse among college students.
Modeling the barriers of Indian telecom services using ISM and MICMAC approach
Authors: Talib Faisal , Rahman Zillur
Published: May 2017

Purpose

The purpose of this paper is to identify the potential barriers of telecom services and develop relationships among them using interpretive structural modeling (ISM) in the Indian telecom sector. Further, this paper intends to find the driving and dependence powers of telecom barriers, using MICMAC (Matriced' Impacts Croise′s Multiplication Applique′ea′un Classement) analysis.

Design/methodology/approach

A group of experts from telecom sector and academia was consulted and the ISM was used to develop the contextual relationship among identified barriers of telecom services. The results of ISM are used as an input to MICMAC analysis, to further classify identified barriers based on their driving and dependence powers.

Findings

This paper has identified 11 barriers of telecom services from the literature review and opinion of experts, and a contextual relationship model was developed using the ISM technique. The paper further studied barriers based on their driving and dependence powers using MICMAC analysis that classifies them into four clusters. The results identified the barriers such as “lack of adequate investment in infrastructure expansion”, “interference of private operators”, “legal and regulatory issues”, “lack of maintenance culture” and “lack of financial resources and high cost” as strategic-level barriers that, if dealt with carefully, can help overcome the effect of other barriers preventing the effective performance of the Indian telecom sector.

Research limitations/implications

Although, there are a number of barriers that affect the performance of telecom services, existing theories, models and frameworks have focused on identification of factors, their implementation and benefits, and thus, these theories lack a holistic view in understanding those barriers which hinder the performance of the telecom sector. Top-managers and policymakers need to be more concerned about these barriers so that the performance of the Indian telecom sector could be improved.

Originality/value

A thorough literature review has revealed that no such study has been undertaken that provides any clear understanding of the barriers of telecom services, linkages between them and hierarchical relationships among the barriers.
Effective knowledge transfer between the headquarters and a subsidiary in a MNC: the need for heeding capacity
Authors: Ishihara Hiroyuki , Zolkiewski Judy
Published: May 2017

Purpose

This paper aims to focus on knowledge transfer between the headquarters and a subsidiary of a multinational corporation (MNC). A framework with type of knowledge, absorptive capacity, disseminative capacity and tie strength is proposed. The framework is verified qualitatively and then further developed by adding another capacity needed by the headquarters: heeding capacity.

Design/methodology/approach

To check the validity of the proposed conceptual framework empirically, interview-based qualitative studies were conducted for two partner programs implemented in the Japanese subsidiary of a US-based IT company. Interviews were undertaken with 17 respondents in the headquarters, the Japanese subsidiary and two alliance partners in Japan.

Findings

It is confirmed that type of knowledge and absorptive capacity clearly affect the effectiveness of knowledge transfer. Also, it is found that the knowledge sender’s disseminative capacity matters. Additionally, a case is found in which network ties mitigate the ineffectiveness caused by low disseminative/absorptive capacity.

Research limitations/implications

In this research, cultural influences have not been considered. Also, this research has not paid attention to inter-organizational knowledge transfer. These provides potential for further research which could explore this complexity in more depth.

Practical implications

It is suggested that the headquarters of a MNC need to have a “heeding capacity” in cases where the target subsidiary’s disseminative capacity is low and tie strength between the subsidiary and the headquarters is weak. It is a capacity for the headquarters to heed what a subsidiary would like to transmit but cannot do well, and this is achieved by listening carefully and not letting language barriers or cultural differences obfuscate the meaning.

Originality/value

By focusing on a dyad between the headquarters and the Japanese subsidiary, the importance of disseminative capacity of a subsidiary is highlighted, which is not often the case in the extant literature. Also, headquarters’ heeding capacity is proposed.
Networking, business process innovativeness and export performance: the case of South Asian low-tech industry
Authors: Faroque Anisur R. , Morrish Sussie C. , Ferdous Ahmed Shahriar
Published: May 2017

Purpose

The purpose of this study is to investigate the role of business process innovativeness in the networking-export performance relationship in a developing country low-tech industry setting. Most innovation research in international business and entrepreneurship is conducted on high-tech industries in developed countries. Less research has focused on the low-tech industry context. This study bridges this research gap by testing whether international new ventures’ (INVs) networking resources impact their export performance through business process innovativeness.

Design/methodology/approach

The study tests the link between low-tech INVs’ networking, business process innovativeness and export performance using a sample of 647 export start-up apparel firms in Bangladesh, the second largest apparel exporter in the world.

Findings

The results recognize that an INV entrepreneur’s personal and inter-firm networking are directly and positively related to business process innovativeness and export performance. The findings also indicate that business process innovativeness acts as a mediator only between an INV’s inter-firm networking and its export performance.

Research limitations/implications

The study was undertaken in a Bangladeshi low-tech industry setting-the apparel sector; thus, future research may include data collection from a range of industries across countries. Data collected for the purpose of this study used a cross-sectional research design, and this may only have confirmed the relationships in the model and not causality between the constructs.

Practical implications

The findings highlight that low-tech INVs should focus more on leveraging their personal and inter-firm networking resources, as this should result in improved export performance. The results also provide directives for INVs in regard to improving their business process innovativeness to achieve increased performance.

Originality/value

The study is not only carried out in the context of low-tech early internationalizing firms (i.e. INVs), but also contributes to theory and practice by testing whether INVs’ networking resources (personal and inter-firm) have an impact on business process innovativeness, which in turn leads to improved performance.
Comprehensive cross-border declaration system as money-laundering prevention mechanism
Authors: Zolkaflil Salwa , Omar Normah , Syed Mustapha Nazri Sharifah Nazatul Faiza
Published: May 2017

Purpose

This study aims to discuss the Financial Action Task Force (FATF) Special Recommendation IX (SR IX) and the importance of complying with the recommendation, which focuses on cross-border declaration or disclosure with the objective to detect and prevent illicit cross-border transportation of cash and bearer negotiable instruments (BNIs). This study also looks into compliance ratings of Asia Pacific Group (APG) 40 countries on the FATF SR IX.

Design/methodology/approach

This study reviews the mutual evaluation reports issued by APG on money laundering from 2006 to 2012. Based on the mutual evaluation reports, this study also looks into recommendations and comments given by respective panels. The compliance ratings together with panel’s recommendations and comments compiled in this study will be helpful to relevant authorities for future improvement.

Findings

Complying to FATF SR IX helps relevant authorities in detecting and preventing illicit from cross-border transportation of cash and BNIs. Out of 40, only two countries received compliant rating, which shows the need of improvement to ensure that the country is compliant on FATF SR IX.

Research limitations/implications

This study is limited to the panel’s reviews and recommendations on mutual evaluation report and only focuses on FATF SR IX.

Originality/value

This paper analyzes the compliance characteristics of countries based on their FATF mutual evaluation report. It highlights the comments and recommendation for future improvement to ensure that these countries will comply with FATF SR IX.
Designated non-financial businesses and professions
Authors: Newbury Michael
Published: May 2017

Purpose

The purpose of this paper is to highlight vulnerabilities in Australia’s anti-money laundering/counter-terrorism financing (AML/CTF) regime through Australia’s non-compliance with the Financial Action Task Force (FATF) recommendations on the regulation of designated non-financial businesses and professions (DNFBPs). It is intended that through examination of the justifications for and against AML/CTF regulation of DNFBPs, the paper will provide support for the position that Australia’s AML/CTF regime should incorporate regulation of DNFBPs.

Design/methodology/approach

The paper presents findings from research conducted in 2015 that focused on some of the principal arguments for and against the extension of Australia’s AML/CTF regime to DNFBPs. Review and consideration of the merits of these arguments is undertaken to support the conclusion that AML/CTF regulation should be extended to DNFBPs, in line with the FATF recommendations.

Findings

The current exemption of many DNFBPs from AML/CTF regulation perpetuates vulnerabilities within Australia’s AML/CTF regime; until this is addressed, criminals will continue to exploit these vulnerabilities and the regulated AML/CTF sector will continue to shoulder an unfair burden of Australia’s AML/CTF response.

Practical implications

This paper provides an objective assessment of factors for and against the regulation of DNFBPs in Australia. It may be of value to government policymakers, regulators, financial institutions and DNFBPs.

Originality/value

This paper complements existing research on this subject and provides a specific focus on some of the main arguments for and against the extension of Australia’s AML/CTF regime to specific DNFBPs.
IS – LM model revisited in the perspective of underground economy
Authors: Roy Debasish
Published: May 2017

Purpose

The purpose of this paper is to review the investment-savings, liquidity-money (IS–LM) model used in the traditional macroeconomic theory as an important tool to analyze the dynamics of product and money market. The IS curve represents product market equilibrium condition and the LM curve represents money market equilibrium condition. However, the traditional IS–LM model was formulated mainly keeping in mind the dynamics of the product and money markets of developed economies. Thus, there was an urgent need to explore the pre-established IS–LM model in the light of existing enormous, illicit underground economies prevalent all around the world.

Design/methodology/approach

In this paper, an exploratory attempt has been made to review the IS–LM model in the light of various illicit practices and by incorporating some assumptions that are relevant to this discussion. In this model, ISil curve could be defined as a locus of points each representing a combination of evaded tax and output of the illicit economy that will keep the illicit economy in equilibrium and, the LMil curve could be defined as a locus of points each representing a combination of illicit supply of money and output of the illicit economy that will keep the illicit economy in equilibrium.

Findings

This paper is aimed at analyzing the traditional IS–LM model from a different perspective, namely, the pervasive underground economy thriving all around the world regardless of the stages of growth and development. A sincere attempt has been made to keep the assumptions simple and closest to the real-world scenario as well as pertinent to the logic of economic theory. In this paper, two major factors of illicit practices, i.e. tax evasion and bribery, are given prime importance and the discussion is focused on those two factors of corruption.

Originality/value

This paper has been prepared keeping in view the standard technical procedures and findings that are described in the relevant academic materials like textbooks and journal publications (mentioned under the “References” column). The analysis and findings appearing in the article are based on logical explanations and are completely free from plagiarism.
Data mining in anti-money laundering field
Authors: Yasaka Noriaki
Published: May 2017

Purpose

This report aims to focus on how suspicious transaction report is created with data mining methods and used from the point of view of knowledge management.

Design/methodology/approach

This paper considers data mining versus knowledge management in the anti-money laundering (AML) field.

Findings

In the AML field, the information and knowledge gained are not necessarily used for or shared with the related shareholders. Creating and co-evolving the network of “knowledge professionals” is the impending assignment in this industry. The first and most important task is knowledge management in the global AML field.

Originality/value

The report considers the creation with data mining methods and utilization from the point of view of knowledge management.
Is the third Greek Memoranda of Understanding and Loan Agreement of August 2015 odious?
Authors: Repousis Spyridon
Published: May 2017

Purpose

The purpose of this study is to examine the odious debt concept in Greece. In Greece, the odious debt concept received high attention during recent financial crisis and Greek or Hellenic Parliament decided to establish a Special Committee.

Design/methodology/approach

The Greek Parliament Truth Committee on Public Debt investigated the public debt in Greece, and the main findings are: increase of debt was related to the growth in interest payments, high public spending in defence expenditures associated with corruption scandals, falsification of public deficit and debt statistical data and illicit capital outflows and adopting the euro led to a drastic increase in private debt.

Findings

Based on above the third Memoranda of Understanding (MoU) and the August 2015 loan agreement, according to Greek Parliament Truth Committee on Public Debt are illegal, illegitimate and odious because they fail to recognize the odious character of Greece’s existing debt, and the nature of the instruments by which this debt was financed from 2010 until early 2015. The Third MoU and the August 2015 loan agreement violate the fundamental human rights of the Greek people (both civil and political as well as socio-economic rights) as set out in the Greek Constitution and under international law (treaty-based and customary).

Research limitations/implications

On the other side of results, Greece was a democratic regime during the time it contracted the vast majority of its loans and membership into the Eurozone, which benefitted country by gaining the highly low interest rates that euro currency involved. Also, substantial borrowing for Greece spent directly on the people via social welfare and public sector wages and infrastructure development.

Practical implications

Therefore, Greece, instead of the odious debt doctrine, should resort to other debt solutions such as simple debt repayment, restructuring or “haircut” of the debt (principal and interest) or declare bankruptcy without invoking the odious debt doctrine. Although this recourse avoids the dangerous precedent-setting risks of the odious debt doctrine, it also involves numerous other complexities and policy problems because with default, the banking system would collapse.

Originality/value

It is the first study examining the topic of odious public debt in Greece.
The SEC provides new custody rule guidance to investment advisers
Authors: Wirig Matthew T. , Poorbaugh Kate S.
Published: May 2017

Purpose

To summarize guidance from the Securities and Exchange Commission’s (“SEC”) Division of Investment Management regarding Rule 206(4)-2 (the “Custody Rule”) under the Investment Advisers Act of 1940.

Design/methodology/approach

This article summarizes the SEC’s guidance on “inadvertent custody” created by broad authority in custodial agreements, custody created by standing letters of instruction, and adviser authority to transfer funds or securities between two or more of a client's accounts.

Findings

This article concludes that firms should review their existing client custodial agreements, standing letters of instruction and other arrangements carefully to determine whether they have custody and whether additional action is necessary.

Originality/value

This article contains information on the Custody Rule and related SEC guidance from experienced securities and financial services regulatory lawyers.
CFTC adopts amendments to position limit aggregation rules
Authors: Bruynes J.P. , Daniel Jason , Walker Libbie
Published: May 2017

Purpose

To explain the final position limit aggregation rules and exemptions pertaining to derivative positions in nine agricultural commodities adopted by the Commodity Futures Trading Commission on December 5, 2016 and effective February 14, 2017, the notice filing deadline with respect to which was extended by the CFTC by limited time no-action relief until August 14, 2017.

Design/methodology/approach

Explains the position limit aggregation rules and exemptions pertaining to equity interests in owned entities, ownership or equity interests in pooled accounts or positions, positions of an “eligible entity” in connection with client positions carried by an “independent account controller,” positions held by futures commission merchants (FCMs) in discretionary accounts or customer trading program accounts, equity interests of underwriters based on unsold allotments of securities in distributions, broker-dealers if the equity interest is acquired in the normal course of business and positions for which information cannot be collected without risk of violating a law.

Findings

Unless an exemption from aggregation is available, all positions in accounts for which any person controls the trading or holds a 10 per cent or greater ownership or equity interest must be aggregated with positions held, and trading done, by such person. The final rule adds several new exemptions, including for persons with a 10 per cent or greater ownership or equity interest in an entity so long as certain conditions establishing independence are met. The final rule requires notice filing to take advantage of most exemptions from aggregation.

Originality/value

Practical guidance from experienced lawyers specializing in securities, funds, and investment management.
Shadow banking regime: assessment of investment funds
Authors: Prorokowski Lukas
Published: May 2017

Purpose

To explain the shadow banking regime that will be enforced in the European Union by local regulators starting in January 2017.

Design/methodology/approach

Recognising the regulatory-induced difficulties in the process of identifying certain types of clients (investment funds) as shadow banking entities, this article provides a decision tree for the shadow banking classification process in order to aid the impacted institutions with the assessment of their clients. With this in mind, the article advises the impacted institutions on the specific steps that should be taken when assessing investment funds for shadow banking flags. Furthermore, the article provides insights into the information required to conduct the shadow banking classification process.

Findings

The regime requires the impacted institutions to assess their clients for shadow banking flags in order to impose limits on credit lines to clients classified as shadow banking entities. The US regulatory jurisdiction will be impacted over a longer term.

Originality/value

The recommendations in this article will be especially useful for investment funds to ensure that the relevant information is clearly stated in their prospectuses in order to avoid being classified as shadow banking entities.
OCIE to investment advisers: focus on these five problem areas
Authors: Peltz Brynn D. , Nissan Ilan S. , Rabinowitz Evyn W.
Published: May 2017

Purpose

To explain a Risk Alert published on February 7, 2017 published by the Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) describing the five compliance topics most frequently identified in deficiency letters sent to investment advisers after the completion of an OCIE examination.

Design/methodology/approach

Discusses deficiencies noted by the OCIE relating to the Compliance Rule, required regulatory filings, the Custody Rule, the Code of Ethics Rule, and the Books and Records Rule.

Findings

The OCIE published the Risk Alert with its noted deficiencies only one month after releasing its exam priorities for the year.

Practical implications

All investment advisers should consider reviewing their compliance practices, policies and procedures in light of the deficiencies and weaknesses identified in the SEC Risk Alert.

Originality/value

Practical guidance from experienced lawyers specializing in asset and funds management.
Pay to play violations: an SEC focus
Authors: Van Grover Robert
Published: May 2017

Purpose

To explain and analyze the SEC’s January 17, 2017 announcement of settlements with ten investment advisory firms related to charges that those firms violated Rule 206(4)-5, known as the “Pay-to-Play Rule,” of the Investment Advisers Act of 1940.

Design/methodology/approach

Explains the Pay-to-Play Rule, its applicability to investment advisers, the de minimis and returned contribution exceptions, and the Rule violations cited by the SEC, and draws conclusions for the benefit of registered investment advisers and exempt reporting advisers.

Findings

The settlement included censures, civil money penalties, and recovery of compensation earned for firms’ failure to abide by the Rule, most often involving relatively small contributions by single covered individuals.

Practical implications

In light of these settlements, registered investment advisers and exempt reporting advisers may wish to review the adequacy of their policies and procedures with respect to the Pay-to-Play Rule and the effectiveness of their implementation.

Originality/value

Practical analysis and guidance from an experienced lawyer with a specialty in investment management.