De-Silva, D. L.; Ellias, M.; Wilmott, K.; Mallet, J; Day, J. J.
Aim Despite the greatest butterfly diversity on Earth occurring in the Neotrop- ical Andes and Amazonia, there is still keen debate about the origins of this exceptional biota. A densely sampled calibrated phylogeny for a widespread butterfly subtribe, Oleriina (Nymphalidae: Ithomiini) was used to estimate the origin, colonization history and diversification of this species-rich group. Location Neotropics. Methods Ancestral elevation and biogeographical ranges were reconstructed using data ge...
Beckman, Elizabeth J; Witt, Christopher C
Time-calibrated molecular phylogenies can help us to understand the origins of the diverse and unique Andean avifauna. Previous studies have shown that the tempo of diversification differed between the Andes and adjacent lowland regions of South America. Andean taxa were found to have speciated more recently and to have avoided the decelerated diversification that is typical of Neotropical lowland clades. The South American siskins, a Pleistocene finch radiation, may typify this Andean pattern. We investigated the phylogenetic biogeography of all the New World siskins and goldfinches in new detail. To understand the specific role of the Andes in siskin diversification, we asked: (1) Was diversification faster in Andean siskin lineages relative to non-Andean ones? (2) Did siskin lineages move into and out of the Andes at different rates? We found that siskin lineages in the Andes had higher diversification rates and higher outward dispersal rates than siskin lineages outside the Andes. We conclude that páramo expansion and contraction in response to Pleistocene climatic cycles caused accelerated diversification and outward dispersal in Andean siskins. The younger average age of bird species in the Andes compared to lowland South America may be attributable to bursts of recent diversification in siskins and several other vagile, open-habitat clades. PMID:25796324
PNAS published on August 15,2011 the article ＂Eocene habitat shift from saline to freshwater promoted Tethyan amphipod diversification＂ by Professor Shuqiang Li of Institute of Zoology,CAS,together with Slovenian cooperators. Current theory predicts that a shift to a new habitat would increase the rate of diversification;while as lineages evolve into multiple species,intensified competition would decrease the rate of diversification.
Aleixo, Alexandre; Wilkinson, M. Justin
. The youngest landsurfaces thus lie furthest from the mountains. In this scenario major drainages were also reoriented in wholesale fashion away from a northerly orientation generally towards the east and an Atlantic Ocean outlet. The advance of megafans is best seen by the location of axial rivers such as the Orinoco and Mamore which lie against the cratonic margins furthest from the Andes, at the distal ends of major megafan ramparts. More importantly, other major river courses in western-central Amazonia will have been established at progressively younger dates with distance eastward. If this landscape-sequence scenario is accurate, it parallels the progressive younging of the passerine lineages. The bird DNA data appears to confirm strongly the pervasive role of Amazonian rivers--as primary barriers separating sister lineages of birds, and thus probably as facilitaters of bird speciation. We show for the first time that a general spatio-temporal pattern of diversification for terra-firme lineages in the Amazon is associated with rivers ("younging-eastward"), and furthermore parallels a specific scenario of regional drainage evolution.
Sánchez-González, Luis A.; Navarro-Sigüenza, Adolfo G.; Krabbe, Niels Kaare;
With nearly 30 species, the Atlapetes brush-finches are one of the most species-rich genera in the New World sparrows (Passerellidae). Atlapetes is mainly distributed in highland forests from Mexico to north-western Argentina, with a few taxa in the foothills (...
Gurr, Geoff M; Lu, Zhongxian; Zheng, Xusong; Xu, Hongxing; Zhu, Pingyang; Chen, Guihua; Yao, Xiaoming; Cheng, Jiaan; Zhu, Zengrong; Catindig, Josie Lynn; Villareal, Sylvia; Van Chien, Ho; Cuong, Le Quoc; Channoo, Chairat; Chengwattana, Nalinee; Lan, La Pham; Hai, Le Huu; Chaiwong, Jintana; Nicol, Helen I; Perovic, David J; Wratten, Steve D; Heong, Kong Luen
Global food security requires increased crop productivity to meet escalating demand(1-3). Current food production systems are heavily dependent on synthetic inputs that threaten the environment and human well-being(2,4,5). Biodiversity, for instance, is key to the provision of ecosystem services such as pest control(6,7), but is eroded in conventional agricultural systems. Yet the conservation and reinstatement of biodiversity is challenging(5,8,9), and it remains unclear whether the promotion of biodiversity can reduce reliance on inputs without penalizing yields on a regional scale. Here we present results from multi-site field studies replicated in Thailand, China and Vietnam over a period of four years, in which we grew nectar-producing plants around rice fields, and monitored levels of pest infestation, insecticide use and yields. Compiling the data from all sites, we report that this inexpensive intervention significantly reduced populations of two key pests, reduced insecticide applications by 70%, increased grain yields by 5% and delivered an economic advantage of 7.5%. Additional field studies showed that predators and parasitoids of the main rice pests, together with detritivores, were more abundant in the presence of nectar-producing plants. We conclude that a simple diversification approach, in this case the growth of nectar-producing plants, can contribute to the ecological intensification of agricultural systems. PMID:27249349
Boasson, Elin Lerum
Better understanding of Europeanization requires research on national, societal change. This paper presents a theoretical framework that enables assessment of Europeanised change processes within national industries. Empirically it explores how European Union (EU) state aid regulations and European renewable energy trends in conjunction led to diversification among Norwegian stationary energy producers. Key theoretical implications are as follows: (1) The pattern of interaction between change impulses from the European environment, governmental hierarchical steering and institutional logics within the national organisational field was crucial to the output of the change process. (2) Misfit between institutional logics at the European level and the organisational field hampers change, rather than promoting it. (3) The carriers / the actors that bring the European impulses into the organisational field / matter because they translate change impulses in line with their institutional logic. (4) National politicians are unable to control the process of translating these impulses, and that reduces their political clout. (5) Europeanization brings greater challenges to national democratic governance of liberalised industries. (author). refs., tabs
Full Text Available Abstract Background The Pleistocene Ice Ages were the most recent geohistorical event of major global impact, but their consequences for most parts of the Southern hemisphere remain poorly known. We investigate a radiation of ten species of Sternopriscus, the most species-rich genus of epigean Australian diving beetles. These species are distinct based on genital morphology but cannot be distinguished readily by mtDNA and nDNA because of genotype sharing caused by incomplete lineage sorting. Their genetic similarity suggests a Pleistocene origin. Results We use a dataset of 3858 bp of mitochondrial and nuclear DNA to reconstruct a phylogeny of Sternopriscus using gene and species trees. Diversification analyses support the finding of a recent rapid speciation event with estimated speciation rates of up to 2.40 species per MY, which is considerably higher than the proposed average rate of 0.16 species per MY for insects. Additionally, we use ecological niche modeling and analyze data on habitat preferences to test for niche divergence between species of the recent Sternopriscus radiation. These analyses show that the species can be characterized by a set of ecological variables referring to habitat, climate and altitude. Conclusions Our results suggest that the repeated isolation of populations in glacial refugia might have led to divergent ecological adaptations and the fixation of morphological traits supporting reproductive isolation and therefore may have promoted speciation. The recent Sternopriscus radiation fulfills many characteristics of a species flock and would be the first described example of an aquatic insect species flock. We argue that the species of this group may represent a stage in speciation past the species flock condition because of their mostly broad and often non-overlapping ranges and preferences for different habitat types.
Hünemeier, Tábita; Gómez-Valdés, Jorge; Ballesteros-Romero, Mónica; Azevedo, Soledad de; Martínez-Abadías, Neus; Esparza, Mireia; Sjøvold, Torstein; Sandro L. Bonatto; Salzano, Francisco Mauro; Bortolini, Maria Cátira; González-José, Rolando
Shifts in social structure and cultural practices can potentially promote unusual combinations of allele frequencies that drive the evolution of genetic and phenotypic novelties during human evolution. These cultural practices act in combination with geographical and linguistic barriers and can promote faster evolutionary changes shaped by gene–culture interactions. However, specific cases indicative of this interaction are scarce. Here we show that quantitative genetic parameters obtained fr...
A likelihood inference of historical biogeography in the world's most diverse terrestrial vertebrate genus: diversification of direct-developing frogs (Craugastoridae: Pristimantis) across the Neotropics.
Mendoza, Ángela María; Ospina, Oscar E; Cárdenas-Henao, Heiber; García-R, Juan C
The geology of the northern Andean region has driven the evolutionary history of Neotropical fauna through the creation of barriers and connections that have resulted in speciation and dispersal events, respectively. One of the most conspicuous groups of anuran fauna in the Andes and surrounding areas is the direct-developing species of the genus Pristimantis. We investigated the molecular phylogenetic placement of 12 species from the montane Andes of Colombia in a broader geographical context with a new genus-level phylogeny in order to identify the role of Andean orogeny over the last 40million years and the effect of elevational differences in diversification of Pristimantis. We examined the biogeographic history of the genus using ancestral range reconstruction by biogeographic regions and elevational ranges. We recognized the middle elevational band (between 1000 and 3000m) in the Northwestern Andes region of Colombia and Ecuador as a focal point for the origin and radiation of Pristimantis species. Additionally, we found several Andean migrations toward new habitats in Central Andes and Merida Andes for some species groups. We suggest that the paleogeological changes in the Northwestern Andes were the main promoter of speciation in Pristimantis, and may have served as a corridor for the dispersion of lowland species. PMID:25681675
A central but little-tested prediction of "escape and radiation" coevolution is that colonization of novel, chemically defended host plant clades accelerates insect herbivore diversification. That theory, in turn, exemplifies one side of a broader debate about the relative influence on clade dynami...
Glenn R. Mueller; Barry A. Ziering
Previous work on real estate portfolio diversification by location began with geographic region diversification and moved to economically defined regions (a combination of economics and geography). This work takes the next step by removing the arbitrary geographic restriction and looking at the local economic drivers of individual metropolitan areas as the key determinant for more efficient diversification. The results show that economic diversification can be a more effective diversification...
National Oceanic and Atmospheric Administration, Department of Commerce — The Central Andes gravity data (6,151 records) were compiled by Professor Gotze and the MIGRA Group. This data base was received in April, 1997. Principal gravity...
US Fish and Wildlife Service, Department of the Interior — Information about the history and management of Lake Andes is compiled in this report. It is intended to help future refuge managers become acquainted with the...
The concept of energy source diversification was introduced as a substitution conservation action. The current status and philosophy behind a diversification program is presented in the context of a national energy policy. Advantages, disadvantages (constraints), and methods of implementation for diversification are discussed. The energy source systems for diversification are listed and an example impact assessment is outlined which deals with the water requirements of the specific energy systems.
Benjamin E. Hermalin and Michael L. Katz.
Benjamin E. Hermalin and Michael L. Katz Keywords: diversification; principal-agent relationship Firms undertake a variety of actions to reduce risk through diversification, including entering diverse lines of business, taking on project partners, and maintaining portfolios of risky projects such as R&D or natural resource exploration. By a well-known argument, securities holders do not directly benefit from risk-reducing corporate diversification when they can replicate this diversification ...
Full Text Available In this paper we examine the factors that have promoted the iversification of software process models. The intention is to understand more clearly the problem-solving process in software engineering & try to find out the efficient way to manage the risk. A review of software process modeling is given first, followed by a discussion of process evaluation techniques. A taxonomy for categorizing process models, based on establishing decision criteria,is identified that can guide selecting the appropriate model from a set of alternatives on the basis of model characteristics and software project needs. We are proposing a model in this paper, for dealing with the diversification in software engineering.
Tasca, Paolo; Battiston, Stefano
This paper contributes to a growing literature on the pitfalls of diversification by shedding light on a new mechanism under which, full risk diversification can be sub-optimal. In particular, banks must choose the optimal level of diversification in a market where returns display a bimodal distribution. This feature results from the combination of two opposite economic trends that are weighted by the probability of being either in a bad or in a good state of the world. Banks have also interl...
Benjamin E. Hermalin; Katz, Michael L.
Firms undertake a variety of actions to reduce risk through diversification, including entering diverse lines of business, taking on project partners, and maintaining portfolios of risky projects such as R&D or natural resource exploration. By a well-known argument, securities holders do not directly benefit from risk-reducing corporate diversification when they can replicate this diversification on their own. Moreover, shareholders should be risk neutral with respect to the unsystematic risk...
Oude Lansink, A.G.J.M.; Stefanou, S.E.; Kapelko, M.
Diversification is often seen as a risk management tool, but specialization allows operators to exploit scale economies in single outputs and offers specialized operators more opportunities to fine-tune their skills which can promote a greater degree of technical proficiency. Measuring economies of
Arango, Luz Gabriela; Arizabaleta de García, María Teresa; Bejarano, Nilse; Borchart de Moreno, Christiana; Bucheli, Rocío Vaca; Cervantes, Elvira Llanos; Cisneros, Tatiana; Defossez, Anne-Claire; Fassin, Didier; Giraldo, Fernando Urrea; Li, Dina; Malaver, José; Montúfar, Verónica; Moscoso, Martha; Ortega, Diego Zapata
El Seminario "Mujeres De Los Andes: Condiciones De Vida Y Salud" tuvo lugar en la ciudad de Quito, del 6 al 10 de junio de 1991. Reunió investigadores de distintas disciplinas académicas y actores de variados campos, de cuatro países del área andina-Bolivia, Colombia, Ecuador y Perú-, en los cuales está presente el Instituto Francés de Estudios Andinos, principal instigador del evento. Este libro, que reúne la mayor parte de las ponencias en él presentadas, se inscribe en la línea de las corr...
Galema, Rients; Lensink, Robert; Spierdijk, Laura
International commercial banks, institutional investors, and private investors have become increasingly interested in financing microfinance institutions (MFIs). This paper investigates whether adding microfinance funds to a portfolio of risky international assets yields diversification gains. By us
Becerra, Judith X.; Venable, D. Lawrence
Elucidating the geographical history of diversification is critical for inferring where future diversification may occur and thus could be a valuable aid in determining conservation priorities. However, it has been difficult to recognize areas with a higher likelihood of promoting diversification. We reconstructed centres of origin of lineages and identified areas in the Mexican tropical dry forest that have been important centres of diversification (sources) and areas where species are maint...
Maguire, Phil; Moser, Philippe; O'Reilly, Kieran; McMenamin, Conor; Kelly, Robert; Maguire, Rebecca
In this article we introduce a new strategy for optimal diversification which combines elements of Diversified Risk Parity ,  and Diversification Ratio , with emphasis on positive risk premiums. The Uncorrelated Positive Bets strategy involves the identification of reliable, independent sources of randomness and the quantification of their positive risk premium.We use principal component analysis to identify the most significant sources of randomness contributing...
Dirk P.M. De Wit
Diversification benefits are shown to vary inversely with the correlation between asset returns. The present study estimates average correlation coefficients between real-estate returns from property-specific data of an internationally diversified real estate and in the Netherlands. It is found that diversification benefits within the United States are much larger than on the European Continent. The low correlation found between U.S. real estate returns implies that portfolios of small number...
Ulrich Kirchner; Caroline Zunckel
In the market place, diversification reduces risk and provides protection against extreme events by ensuring that one is not overly exposed to individual occurrences. We argue that diversification is best measured by characteristics of the combined portfolio of assets and introduce a measure based on the information entropy of the probability distribution for the final portfolio asset value. For Gaussian assets the measure is a logarithmic function of the variance and combining independent Ga...
Eastaugh, Steven R
To determine the impact of health system restructuring on the levels of hospital diversification and operating ratio this article analyzed 94 teaching hospitals and 94 community hospitals during the period 2008-2013. The 47 teaching hospitals are matched with 47 other teaching hospitals experiencing the same financial market position in 2008, but with different levels of preference for risk and diversification in their strategic plan. Covariates in the analysis included levels of hospital competition and the degree of local government planning (for example, highly regulated in New York, in contrast to Texas). Moreover, 47 nonteaching community hospitals are matched with 47 other community hospitals in 2008, having varying manager preferences for service-line diversification and risk. Diversification and operating ratio are modeled in a two-stage least squares (TSLS) framework as jointly dependent. Institutional diversification is found to yield better financial position, and the better operating profits provide the firm the wherewithal to diversify. Some services are in a growth phase, like bariatric weight-loss surgery and sleep disorder clinics. Hospital managers' preferences for risk/return potential were considered. An institution life cycle hypothesis is advanced to explain hospital behavior: boom and bust, diversification, and divestiture, occasionally leading to closure or merger. PMID:25223156
... Complex. We started this process through a notice in the Federal Register (72 FR 27328; May, 15, 2007... Fish and Wildlife Service Lake Andes National Wildlife Refuge Complex, Lake Andes, SD; Draft... assessment (EA) for the Lake Andes National Wildlife Refuge Complex (Complex), which includes Lake Andes...
An important literature has shown that the relationship between economic diversification and income per capita is non-monotonic (Imbs and Wacziarg, 2003 and Koren and Tenreyro, 2007). At early stages of development countries diversify as income increases and new economic opportunities emerge, but at later stages of development the production bundle becomes more concentrated as income rises. The aim of this paper is to explore the role played by Weak Links effects à la Jones (2011) in explaini...
Gubaydullina, Zulia; Spiwoks, Markus
The paper analyses on an experimental basis the phenomenon of non-optimal under-diversification in portfolio choice decisions and investigates the reasons behind it. The most important obstacles for optimal diversification are studied – the correlation neglect hypothesis and the overconfidence which both lead to suboptimal diversification decisions. The investment alternatives are constructed in a way that the Markowitz’ efficiency frontier is reduced to a single point in the return-risk diag...
Bizzo, Nelio; Bizzo, Luis Eduardo Maestrelli
Considering geological time as an important epistemological obstacle to the construction of ideas on biological evolution, a study was carried out on the so-called "Darwin Papers". The conclusion was that Charles Darwin's excursion in the Andes during March-April 1835 was a crucial step in this regard. An expedition was carried out in March-April…
... review and comment following the announcement in the Federal Register on October 29, 2012 ] (77 FR 65574... Fish and Wildlife Service Lake Andes National Wildlife Refuge Complex, Lake Andes, SD; Final... conservation plan and finding of no significant impact (FONSI) for the Lake Andes National Wildlife...
In a new and developing period of higher education, it needs to develop the higher education in China from popularization to diversification. It is necessary to reform the existed modes to achieve the diversification of higher education, and explore new ways to promote the development of higher education further.
Weber, Marjorie G; Agrawal, Anurag A
The ability of plants to form mutualistic relationships with animal defenders has long been suspected to influence their evolutionary success, both by decreasing extinction risk and by increasing opportunity for speciation through an expanded realized niche. Nonetheless, the hypothesis that defense mutualisms consistently enhance plant diversification across lineages has not been well tested due to a lack of phenotypic and phylogenetic information. Using a global analysis, we show that the >100 vascular plant families in which species have evolved extrafloral nectaries (EFNs), sugar-secreting organs that recruit arthropod mutualists, have twofold higher diversification rates than families that lack species with EFNs. Zooming in on six distantly related plant clades, trait-dependent diversification models confirmed the tendency for lineages with EFNs to display increased rates of diversification. These results were consistent across methodological approaches. Inference using reversible-jump Markov chain Monte Carlo (MCMC) to model the placement and number of rate shifts revealed that high net diversification rates in EFN clades were driven by an increased number of positive rate shifts following EFN evolution compared with sister clades, suggesting that EFNs may be indirect facilitators of diversification. Our replicated analysis indicates that defense mutualisms put lineages on a path toward increased diversification rates within and between clades, and is concordant with the hypothesis that mutualistic interactions with animals can have an impact on deep macroevolutionary patterns and enhance plant diversity. PMID:25349406
Kpate ADJAOUTE; Danthine, Jean-Pierre
This paper studies the impact of EMU on portfolio diversification opportunities. We find a significant increase in the correlation between stock returns, whether they are computed on the basis of market or sector indices. This is true for two definitions of the pre-convergence and convergence periods. Diversification opportunities within the Euro-area have thus been reduced. The culprit appears to be less the disappearance of currency risk than the convergence of economic structures and/or th...
Bissantz, Kathrin; Bissantz, Nicolai; Ziggel, Daniel
During the World Financial Crisis it became obvious that classical models of portfolio theory significantly under-estimated risks, especially with regard to stocks. Instabilities of correlations and volatilities, the relevant parameters characterizing risk, led to overestimation of diversification effects and consequently to under-estimation of risks. In this article, we analyze diversification effects concerning stocks during different market periods of the previous decade. We show ...
Oasis, Kodila-Tedika; Simplice A, Asongu
This paper extends the growing literature on knowledge economy by investigating the effect of intelligence on economic diversification. Using a battery of estimation techniques that are robust to endogeneity, we find that human capital has positive effects on export diversification, manufactured added value and export manufactures. This empirical evidence is based on a world sample for the period 2010. The findings have significant implications for the fight against the Dutch disease. In esse...
Guiso, Luigi; Jappelli, Tullio
In this paper we focus on poor financial literacy as one potential factor explaining lack of portfolio diversification. We use the 2007 Unicredit Customers' Survey, which has indicators of portfolio choice, financial literacy and many demographic characteristics of investors. We first propose test-based indicators of financial literacy and document the extent of portfolio under-diversification. We find that measures of financial literacy are strongly correlated with the degree of portfolio di...
William N. Goetzmann; Massimo Massa; Andrei Simonov
We relate the degree of investor portfolio focus to the broader urban economic context of the household. Using a detailed panel of investors in Sweden over the period 1995 to 2000, we find that the level of investor diversification, as measured by number of stocks in the portfolio and by the average correlation among holdings, is partially explained by city industrial characteristics. We find that rural portfolios are more diversified than urban portfolios and that portfolio diversification i...
QinZheng; ZouJianjun; ChenShou
The strategy of diversification has become an important approach to enterprise development A successful diversification strategy depends mainly on the correct business choice. Before choosing a new business, we must identify the core competeneies of the enterprise and research the attraction and criticai success factors of the target business. Then we should make sure whether the core competencies match the critical success factors or not.The new business should be useful for cuitivating sustainable competitive advantage.
ANDES (Agua Negra Deep Experiment Site) is a unique opportunity to build a deep underground laboratory in the southern hemisphere. It will be built in the Agua Negra tunnel planned between Argentina and Chile, and operated by the CLES, a Latin American consortium. With 1750m of rock overburden, and no close- by nuclear power plant, it will provide an extremely radiation quiet environment for neutrino and dark matter experiments. In particular, its location in the southern hemisphere should play a major role in understanding dark matter modulation signals.
Fjeldså, Jon; Rahbek, Carsten
The process of diversification since the late Tertiary was studied by linking together well-resolved phylogenies and species distributions for tanagers (Aves, Thraupini). Species richness patterns reveal very high densities of range-restricted species in the Andes, and to a lesser extent in the A...... high persistence of lineages in specific areas, something that may be related to how climatic changes are moderated by local topography....... Atlantic forests of south-eastern Brazil, and moderate densities of widespread species in the tropical lowlands. Contemporary climate explains well the variation in species richness for the 25% most widespread species; for the remaining 75% of species with more restricted distributions, variation can only...
Coad, Alexander Jean-Luc; Guenther, C.
We focus on the relationship between age and diversification patterns of German machine tool manufacturers in the post-war era. We distinguish between 'minor diversification' (adding a new product variation within a familiar submarket) and 'major diversification' (expanding the product portfolio ....... Fourth, survival estimations reveal that diversification activities reduce the risk of exit in general and to a varying degree at different ages. These results are interpreted using Penrosean growth theory.......We focus on the relationship between age and diversification patterns of German machine tool manufacturers in the post-war era. We distinguish between 'minor diversification' (adding a new product variation within a familiar submarket) and 'major diversification' (expanding the product portfolio...... lines). Second, we find that product portfolios of larger firms tend to be more diversified. Third, with respect to consecutive diversification activities, quantile autoregression plots show that firms experiencing diversification in one period are unlikely to repeat this behavior in the following year...
Brandon, M. T.; Tomkin, J. H.
ELA. The proportionality constant is dependent on specifics of the local area, including precipitation. Nonetheless, this yield law, together with the assumption of a constant wedge taper, allows us to predict the time evolution of the Patagonia Andes. We consider three examples. The first is the growth of the Patagonian wedge upward to a fixed ELA. The second is the topographic response of the Patagonian wedge to a dropping ELA, as expected for global cooling during the late Cenozoic. The third is the influence of the short-term glacial cycles, as has been typical for the Quaternary. We found that short-term climate fluctuations (~100 ka glacial cycles) would have little influence on the topographic evolution of the Patagonian wedge. Instead, our conclusion is that the southward decreasing size of the Patagonian Andes is mainly due to the southward slope of the ELA, which has probably been a constant feature for the range over its full 25 Ma history. Late Cenozoic cooling may have contributed by promoting faster glacial erosion as the ELA dropped to lower elevations everywhere. What is interesting is that this change would have caused shortening to be focused in the core of the range, in order to maintain the wedge taper there. We suggest that the wedge is still adjusting to this change in erosion rates, which may explain why thrusting stopped along the east side of the range at about 9 Ma. Continental subduction would still be active but would be accommodated now by distributed shortening in the core of the range.
Alam, Hasan B.
This article gives an overview of the promotion process in an academic medical center. A description of different promotional tracks, tenure and endowed chairs, and the process of submitting an application is provided. Finally, some practical advice about developing skills and attributes that can help with academic growth and promotion is dispensed.
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Karl Mundt NWR, and Lake Andes WMD outlines Refuge accomplishments during the 1997 calendar year. The report begins...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Karl Mundt NWR, and Lake Andes WMD outlines Refuge accomplishments during the 2003 calendar year. The report begins...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Karl Mundt NWR, and Lake Andes WMD outlines Refuge accomplishments during the 1996 calendar year. The report begins...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Karl Mundt NWR, and Lake Andes WMD outlines Refuge accomplishments during the 1999 calendar year. The report begins...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Karl Mundt NWR, and Lake Andes WMD outlines Refuge accomplishments during the 1994 calendar year. The report begins...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Karl Mundt NWR, and Lake Andes WMD outlines Refuge accomplishments during the 1995 calendar year. The report begins...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Karl Mundt NWR, and Lake Andes WMD outlines Refuge accomplishments during the 1998 calendar year. The report begins...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Karl Mundt NWR, and Lake Andes WMD outlines Refuge accomplishments during the 2000 calendar year. The report begins...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1961. Existing water supplies are tabulated for each of the four units providing numbers for...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 2009. Short forms are supplied for the years water use report management plan. These forms cover...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1988. General water uses are discussed for 1988 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 2013. Short forms are supplied for the years water use report management plan. These forms cover...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1998. General water uses are discussed for 1998 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1964. Existing water supplies are tabulated for each of the four units providing numbers for...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1989. General water uses are discussed for 1989 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 2006. Short forms are supplied for the years water use report management plan. These forms cover...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 2000. General water uses are discussed for 2000 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1982. General water uses are discussed for 1982 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1984. General water uses are discussed for 1984 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1966. General water uses are discussed for 1966 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1963. Existing water supplies are tabulated for each of the four units providing numbers for...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 2008. Short forms are supplied for the years water use report management plan. These forms cover...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1959. Appears to just be the correspondence letter to the regional supervisor with some data on...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 2005. Short forms are supplied for the years water use report management plan. These forms cover...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1993. General water uses are discussed for 1993 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1971. General water uses are discussed for 1971 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1965. General water uses are discussed for 1965 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 2010. Short forms are supplied for the years water use report management plan. These forms cover...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 2007. Short forms are supplied for the years water use report management plan. These forms cover...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1990. General water uses are discussed for 1990 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1968. General water uses are discussed for 1968 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1970. General water uses are discussed for 1970 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1995. General water uses are discussed for 1995 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1960. A short summary of water rights is provided. Existing water supplies, as of January 1961,...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1969. General water uses are discussed for 1969 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1947. It provides a table of each unit along with the crest of spill elevation and a recommended...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1991. General water uses are discussed for 1991 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 2012. Short forms are supplied for the years water use report management plan. These forms cover...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1999. General water uses are discussed for 1999 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1994. General water uses are discussed for 1994 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1983. General water uses are discussed for 1983 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1987. General water uses are discussed for 1987 for each unit, impoundment data is tabulated...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 2004. Short forms are supplied for the years water use report management plan. These forms cover...
US Fish and Wildlife Service, Department of the Interior — This report contains locations and water use at Lake Andes NWR for 1992. General water uses are discussed for 1992 for each unit, impoundment data is tabulated...
A.A.C.J. van Oijen; G.W.J. Hendrikse (George)
textabstractProduct diversification and its financial outcomes have been studied exhaustively. However, previous literature has focused on corporations, ignoring other important legal organizations or governance structures. In this paper, we study the diversification strategies of cooperatives and c
John J Wiens; Lapoint, Richard T.; Whiteman, Noah K.
Insects contain more than half of all living species, but the causes of their remarkable diversity remain poorly understood. Many authors have suggested that herbivory has accelerated diversification in many insect clades. However, others have questioned the role of herbivory in insect diversification. Here, we test the relationships between herbivory and insect diversification across multiple scales. We find a strong, positive relationship between herbivory and diversification among insect o...
Maarten van Oordt
Diversification by banks affects the systemic risk of the sector. Importantly, Wagner (2010) shows that linear diversification increases systemic risk. We consider the case of securitization, whereby loan portfolios are sliced into tranches with different seniority levels. We show that tranching offers nonlinear diversification strategies, which can reduce the failure risk of individual institutions beyond the minimum level attainable by linear diversification, without increasing systemic risk.
Paul EHLING; Ramos, Sofia Brito
This research addresses whether geographic diversification provides benefits over industry diversification. In the absence of constraints, no empirical evidence is found to support the argument that country diversification is superior. With short-selling constraints, however, the geographic tangency portfolio is not attainable by industry portfolios. Results with upper and lower constraints on portfolio weights as well as an out-of-sample analysis show that geographic diversification almost c...
Barasinska, Nataliya; Schäfer, Dorothea; Stephan, Andreas
This paper explores the relationship between risk attitude and asset diversification in household portfolios. We first examine the impact of manifested risk aversion on the total number of distinct assets held in a portfolio (naive diversification). The second part of the paper focuses on a more sophisticated strategy of diversification and asks whether financial theory is compatible with observed diversification patterns. Based on the German Socioeconomic Panel which provides unique measures...
Condamine, Fabien L; Clapham, Matthew E; Kergoat, Gael J
Macroevolutionary studies of insects at diverse taxonomic scales often reveal dynamic evolutionary patterns, with multiple inferred diversification rate shifts. Responses to major past environmental changes, such as the Cretaceous Terrestrial Revolution, or the development of major key innovations, such as wings or complete metamorphosis are usually invoked as potential evolutionary triggers. However this view is partially contradicted by studies on the family-level fossil record showing that insect diversification was relatively constant through time. In an attempt to reconcile both views, we investigate large-scale insect diversification dynamics at family level using two distinct types of diversification analyses on a molecular timetree representing ca. 82% of the extant families, and reassess the insect fossil diversity using up-to-date records. Analyses focusing on the fossil record recovered an early burst of diversification, declining to low and steady rates through time, interrupted by extinction events. Phylogenetic analyses showed that major shifts of diversification rates only occurred in the four richest holometabolous orders. Both suggest that neither the development of flight or complete metamorphosis nor the Cretaceous Terrestrial Revolution environmental changes induced immediate changes in diversification regimes; instead clade-specific innovations likely promoted the diversification of major insect orders. PMID:26778170
Clauretie, Terrence M
Geographic diversification allows those involved in real estate markets to manage risk. In this paper we discuss the role of local economic diversification in risk management. We show that residential foreclosure rates are negatively related to local economic diversification. We conclude that geographical diversification with reference to local economic diversification is more efficient than naive geographic diversification alone.
Klinger, Bailey; Lederman, Daniel
The literature on the relationship between economic diversification and development has grown rapidly in recent years, partly due to the surprising finding that diversification rises with gross domestic product per capita up to a certain point. Export diversification along the extensive margin is inextricable from the introduction of new export products. The authors test the hypothesis tha...
Er.Kirtesh Jailia,; Manisha Jailia; Er.Pramod Kumar,; Manisha Agarwal
In this paper we examine the factors that have promoted the iversification of software process models. The intention is to understand more clearly the problem-solving process in software engineering & try to find out the efficient way to manage the risk. A review of software process modeling is given first, followed by a discussion of process evaluation techniques. A taxonomy for categorizing process models, based on establishing decision criteria,is identified that can guide selecting the a...
Beren W. ROBINSON, David W. PFENNIG
Full Text Available Identifying the causes of diversification is central to evolutionary biology. The ecological theory of adaptive diversification holds that the evolution of phenotypic differences between populations and species––and the formation of new species––stems from divergent natural selection, often arising from competitive interactions. Although increasing evidence suggests that phenotypic plasticity can facilitate this process, it is not generally appreciated that competitively mediated selection often also provides ideal conditions for phenotypic plasticity to evolve in the first place. Here, we discuss how competition plays at least two key roles in adaptive diversification depending on its pattern. First, heterogenous competition initially generates heterogeneity in resource use that favors adaptive plasticity in the form of “inducible competitors”. Second, once such competitively induced plasticity evolves, its capacity to rapidly generate phenotypic variation and expose phenotypes to alternate selective regimes allows populations to respond readily to selection favoring diversification, as may occur when competition generates steady diversifying selection that permanently drives the evolutionary divergence of populations that use different resources. Thus, competition plays two important roles in adaptive diversification––one well-known and the other only now emerging––mediated through its effect on the evolution of phenotypic plasticity [Current Zoology 59 (4: 537–552, 2013].
Dewey, J. F.; Lamb, S. H.
Nearly 90 mm a -1 of relative plate convergence is absorbed in the Andean plate-boundary zone. The pattern of active tectonics shows remarkable variations in the way in which the plate slip vector is partitioned into displacement and strain and the ways in which compatibility between different segments is solved. Along any traverse across the plate-boundary zone, the sum of relative velocities between points must equal the relative plate motion. We have developed a kinematic synthesis of displacement and strain partitioning in the Andes from 47°S to 5°N relevant for the last 5 Ma based upon: (1) relative plate motion deduced from oceanic circuits giving a roughly constant azimuth between 075 and 080; (2) moment tensor solutions for over 120 crustal earthquakes since 1960; (3) structural studies of deformed Plio-Pleistocene rocks; (4) topographic/geomorphic studies; (5) palaeomagnetic data; and (6) geodetic data. We recognize four neotectonic zones, with subzones and boundary transfer zones, that are partitioned in different ways. These zones are not coincident with the 'classic' zones defined by the presence or absence of a volcanic chain or differences in finite displacements and strains and tectonic form; the long-term segmentation and finite evolution of the Andes may not occur in constantly defined segments in space and time. In Segment 1 (47°-39°S), the slip vector is partitioned into roughly orthogonal Benioff Zone slip with large magnitude/large slip-surface earthquakes and both distributed dextral shear giving clockwise rotations of up to 50° and dextral slip in the curved Liquine-Ofqui Fault System giving 5°-10° of anticlockwise fore-arc rotation. In Segment 2 (39°-20°S), the slip vector is partitioned into Benioff Zone slip roughly parallel with the slip vector, Andean crustal shortening and a very small component of dextral slip, including that on the Atacama Fault System. Between 39° and 34°S, a cross-strike dextral transfer, which deflects
Lijtmaer, Darío A; Kevin C R Kerr; Barreira, Ana S.; Hebert, Paul D N; Pablo L Tubaro
BACKGROUND: The causes for the higher biodiversity in the Neotropics as compared to the Nearctic and the factors promoting species diversification in each region have been much debated. The refuge hypothesis posits that high tropical diversity reflects high speciation rates during the Pleistocene, but this conclusion has been challenged. The present study investigates this matter by examining continental patterns of avian diversification through the analysis of large-scale DNA barcode librari...
US Fish and Wildlife Service, Department of the Interior — Lake Andes was a much larger body of water prior to the construction of an artificial outlet structure that lowered the water level by 13 feet. Since Lake Andes is...
US Fish and Wildlife Service, Department of the Interior — Current condition of lake Andes (1996) and highlights potential problems and recommendations for improving the lake as a hatchery. Lake Andes was a much larger body...
US Fish and Wildlife Service, Department of the Interior — Brief background on Lake Andes fishing history, and data on current fish populations. Lake Andes was a much larger body of water prior to the construction of an...
Goodman, Kari Roesch
Large species radiations provide exceptional opportunities for understanding the processes involved in the formation of new species. This research is focused on a species-rich lineage of ecologically diversified planthoppers in the Hawaiian islands, Nesosydne (Hemiptera: Delphacidae). In order to examine the factors promoting diversification in this lineage at multiple slices through evolutionary time, I used an integrative approach combining three classes of methods. First, I used molecular ...
The issue of diversification, diversification of exports and imports, diversification of foreign trade. Determined the importance of diversification strategy to improve economic performance and proved that diversification allows the flexibility to respond to changing market opportunities and reduce the risks that may occur during production specialization. With the diversification of the company reinforce its competitive position in the market. The concept of diversification is used in the fo...
Cheol S. Eun; Sandy Lai; Frans A. de Roon; Zhe Zhang
We propose a new investment strategy employing "factor funds" to systematically enhance the meanvariance efficiency of international diversification. Our approach is motivated by the increasing evidence that size (SMB), book-to-market (HML), and momentum (MOM) factors, along with the market factor, adequately describe international stock returns, and by the direct link between investors' portfolio choice problems and international asset pricing theories and tests. Using data from 10 developed...
Christoffersen, Peter; Jacobs, Kris; Jin, Xisong;
We characterize diversification in corporate credit using a new class of dynamic copula models which can capture dynamic dependence and asymmetry in large samples of firms. We also document important differences between credit spread and equity return dependence dynamics. Modeling a decade of...... the crisis and remain high as well. The most important shocks to credit dependence occur in August of 2007 and in August of 2011, but interestingly these dates are not associated with significant changes to median credit spreads....
d'Albis, Hippolyte; Thibault, Emmanuel
In this article, the diversification motives of the demand for annuities is analyzed. Using a model allowing for the uncertainty of both the human life length and the interest rate, the Decision Maker is supposed to choose an optimal portfolio to maximize a bequest. Conditions under which an increase in the risk of bond returns increase the demand for annuities are proposed and discussed. Moreover, it is shown that, contrary to previous claims, more risk adversion is associated with a low...
Raphael Amit; Joshua Livnat; Paul Zarowin
This study investigates the direct effects of corporate diversification on accounting reports, and the implications of these effects for accounting research. The study shows that firms which diversify into unrelated areas of business devote a larger proportion of their capital investments to acquisitions and are, therefore, characterized by smaller differences between replacement-cost and historical-cost values of assets than undiversified firms. The implications of these findings, as well as...
Wenhua Yu, Junxiao Xu, Yi Wu, Guang Yang
Full Text Available Although mammals have long been regarded as a successful radiation, the diversification pattern among the clades is still poorly known. Higher-level phylogenies are conflicting and comprehensive comparative analyses are still lacking. Using a recently published supermatrix encompassing nearly all extant mammalian families and a novel comparative likelihood approach (MEDUSA, the diversification pattern of mammalian groups was examined. Both order- and family-level phylogenetic analyses revealed the rapid radiation of Boreoeutheria and Euaustralidelphia in the early mammalian history. The observation of a diversification burst within Boreoeutheria at approximately 100 My supports the Long Fuse model in elucidating placental diversification progress, and the rapid radiation of Euaustralidelphia suggests an important role of biogeographic dispersal events in triggering early Australian marsupial rapid radiation. Diversification analyses based on family-level diversity tree revealed seven additional clades with exceptional diversification rate shifts, six of which represent accelerations in net diversification rate as compared to the background pattern. The shifts gave origin to the clades Muridae+Cricetidae, Bovidae+Moschidae+Cervidae, Simiiformes, Echimyidae, Odontoceti (excluding Physeteridae+Kogiidae+Platanistidae, Macropodidae, and Vespertilionidae. Moderate to high extinction rates from background and boreoeutherian diversification patterns indicate the important role of turnovers in shaping the heterogeneous taxonomic richness observed among extant mammalian groups. Furthermore, the present results emphasize the key role of extinction on erasing unusual diversification signals, and suggest that further studies are needed to clarify the historical radiation of some mammalian groups for which MEDUSA did not detect exceptional diversification rates.
JOMO K.S.; Rock, M
Instead of simply relying on static comparative advantage considerations, the governments of the three second-tier South-East Asian newly industrializing countries of Indonesia, Malaysia and Thailand have all intervened to diversify their economies. Such diversification has included the promotion of new crops (e.g. oil palm) and natural resource exploitation, i.e. diversification of primary production, as well as the promotion of manufacturing. Besides import-substituting and export-oriented ...
McNamara, Kevin T.; Christoph R. Weiss
The present paper brings together two strands of literature by analysing the interrelationship between on-farm and off-farm diversification econometrically. Estimation results from simultaneous bivariate probit models suggest that on-farm and off-farm diversification decisions are closely related. The degree of diversification is significantly lower for farms where the farm operator works off-the farm. On the other hand, the probability of entering into the off-farm labour market declines wit...
Klinger, Bailey; Lederman, Daniel
The literature on the relationship between economic diversification and development established that diversification rises with development up to a point. Some have argued that market failures reduce private investments that are necessary to find out whether a new product can be exported profitably, thus implying that the threat of entry can reduce export discoveries and consequently hamper diversification. In parallel, the trade literature on the "extensive margin" of trade has focused on th...
Powers, Michael R.
Purpose – The purpose of this paper is to explore the roles of diversification, hedging, and a third risk-reduction process – “pacification” – in risk finance. Design/methodology/approach – After briefly reviewing the concepts of diversification and hedging, a simple mathematical model is offered for reducing the standard deviation of a portfolio of traditional “insurance” and/or other financial risks. Findings – The findings show that: neither diversification nor hedging, by itself, can guar...
CADOT, Olivier; Carrere, Celine; Strauss-Kahn, Vanessa
The paper explores the evolution of export diversification patterns along the economic development path. Using a large database with 156 countries over 19 years at the HS6 level of disaggregation (4,991 product lines), we look for action at the intensive and extensive margins. We find a hump-shaped pattern of export diversification similar to what Imbs and Wacziarg (2003) found for production. Diversification and subsequent reconcentration take place mostly along the extensive margin. This hu...
I present a framework of banking in which banks’ main role is to monitor their borrowers. Within this framework I analyze the benefits of diversification and the threats of systemic risk and inter-bank competition. Diversification improves banks’ monitoring incentives. High systemic risk not only hampers banks’ monitoring incentives, but also makes diversification less effective. I also show that competition lowers monitoring incentives. I match the insights of the analysis with the abundant ...
Paul EHLING; Ramos, Sofia B.
This research addresses whether geographic diversification provides benefits over industry diversification in a sample of European country and industry indexes. The methodology allows performance comparisons with short-selling constraints, upper and lower bounds, and many benchmarks. In the absence of constraints, no empirical evidence is found to support the argument that country diversification is a superior approach. In the case of realistic weights on portfolios such as short-selling, and...
De Giorgi, Enrico G.; Mahmoud, Ola
Diversification represents the idea of choosing variety over uniformity. Within the theory of choice, desirability of diversification is axiomatized as preference for a convex combination of choices that are equivalently ranked. This corresponds to the notion of risk aversion when one assumes the von-Neumann-Morgenstern expected utility model, but the equivalence fails to hold in other models. This paper reviews axiomatizations of the concept of diversification and their relationship to the r...
Bauer, Johannes M
Recent regulatory reform has gradually relaxed the constraints on vertical and horizontal diversification of public utilities. After earlier strategies of conglomerate diversification utilities more recently started to expand into domestic and international activities more closely related to their core business. Sound diversification may improve corporate performance, but raises complicated policy issues in firms operating in both regulated and unregulated markets. The paper studies the probl...
Doukas, John A.; Ozgur B Kan
Previous empirical studies have found that global diversification results in 18% shareholder loss. In this paper, we examine the sources behind the global diversification shareholder value loss in a contingent claims framework. This postulates that the risk-reduction effects of global diversification should decrease the value of shareholder equity (call option), whereas they should increase bondholder value. Consequently, near-all equity globally diversified firms should not experience...
Full Text Available This study provides information on the diversity of Peruvian species of Polylepis. Nineteen (19 species are reported here (more than 70% of the 27 species registered for the whole Andean region. As a result, Peru could be considered as the country with the largest diversity of Polylepis species, in comparison with Bolivia (13, Ecuador (7, Argentina (4, Colombia (3, Chile (2, and Venezuela (1. The species occur in 19 departments of Peru, with the majority of them in Cusco (10 and Ayacucho (8. Species diversity is mostly concentrated in the Peruvian southern Andes (15 species, with the region becoming the potential center of diversification of the genus Polylepis. Regarding their altitudinal distribution, the greatest diversity (18 is found between 3000 and 4000 m.
Fathi Abid; Pui Lam Leung; Mourad Mroua; Wing Keung Wong
This paper applies the mean-variance portfolio optimization (PO) approach and the stochastic dominance (SD) test to examine preferences for international diversification versus domestic diversification from American investors’ viewpoints. Our PO results imply that the domestic diversification strategy dominates the international diversification strategy at a lower risk level and the reverse is true at a higher risk level. Our SD analysis shows that there is no arbitrage opportunity between in...
Losos, Jonathan B; Ricklefs, Robert E
Charles Darwin's travels on HMS Beagle taught him that islands are an important source of evidence for evolution. Because many islands are young and have relatively few species, evolutionary adaptation and species proliferation are obvious and easy to study. In addition, the geographical isolation of many islands has allowed evolution to take its own course, free of influence from other areas, resulting in unusual faunas and floras, often unlike those found anywhere else. For these reasons, island research provides valuable insights into speciation and adaptive radiation, and into the relative importance of contingency and determinism in evolutionary diversification. PMID:19212401
Föller, K.; Stelbrink, B.; Hauffe, T.; Albrecht, C.; Wilke, T.
contributes to one of the overall goals of the SCOPSCO deep-drilling program - inferring the driving forces for biotic evolution in Lake Ohrid. It might also enhance our understanding of how ecosystem resilience, in general, may promote relatively constant diversification rates in isolated ecosystems. However, we encourage future studies testing hypotheses about the lack of catastrophic events in Lake Ohrid. These studies should be based on high-resolution data for the entire geological history of the lake, and they should potentially involve information from the sediment fossil record, not only for gastropods but also for other groups with a high share of endemic taxa.
Using portfolio theory ("Markowitz" diversification) the article shows that diversification on international bond markets also serves the interest of investors who give priority to minimizing risks. Institutional investors are frequently subject to important legal constraints in their ability to place assets according to findings of modern portfolio theory and to transfer risk.
胡莎; 窦志成; 王晓捷; 继荣
In search engines, different users may search for different information by issuing the same query. To satisfy more users with limited search results, search result diversification re-ranks the results to cover as many user intents as possible. Most existing intent-aware diversification algorithms recognize user intents as subtopics, each of which is usually a word, a phrase, or a piece of description. In this paper, we leverage query facets to understand user intents in diversification, where each facet contains a group of words or phrases that explain an underlying intent of a query. We generate subtopics based on query facets and propose faceted diversification approaches. Experimental results on the public TREC 2009 dataset show that our faceted approaches outperform state-of-the-art diversification models.
Poon, Peter T.
The author poses certain questions in this paper: 'In the future, should there be just one software engineering standards set? If so, how can we work towards that goal? What are the challenges of internationalizing standards?' Based on the author's personal view, the statement of his position is as follows: 'There should NOT be just one set of software engineering standards in the future. At the same time, there should NOT be the proliferation of standards, and the number of sets of standards should be kept to a minimum.It is important to understand the diversification of the areas which are spanned by the software engineering standards.' The author goes on to describe the diversification of processes, the diversification in the national and international character of standards organizations, the diversification of the professional organizations producing standards, the diversification of the types of businesses and industries, and the challenges of internationalizing standards.
Ricklefs, Robert E
Morphological diversity tends to increase within evolving lineages over time, but the relative roles of gradual evolutionary change (anagenesis) and abrupt shifts associated with speciation events (cladogenesis, or 'punctuated equilibrium') have not been resolved for most groups of organisms. However, these two modes of evolution can be distinguished by the fact that morphological variance increases in proportion to time under anagenesis, and in proportion to the logarithm of the number of species under cladogenesis. Although species and time are themselves correlated, multiple regression analysis provides a statistical framework for partitioning their relative contributions. In this study, I use multiple regressions to evaluate the effects of time and species number on morphological diversity within clades of passerine birds. The results show clearly that number of species exerts a strong influence on morphological variance independent of time, but that time has no unique effect. Thus, morphological evolution in birds seems to be associated with cladogenesis. How lineage splitting promotes morphological diversification poses an important challenge to ecologists and evolutionary biologists. PMID:15254535
This paper's results indicate that futures for crude oil, natural gas and unleaded gasoline fail to enhance the performance of representative energy stocks in terms of return to risk, but do decrease the overall level of risk exposure borne by passive equity investors. Our findings suggest that futures contracts on energy commodities are valuable to market participants with an interest in hedging against price fluctuations in energy markets by buy-and-hold strategies. However, this conclusion is reversed when one takes the perspective of traders whose core interests can be better approximated through the return to risk-bearing. In fact, this paper documents that return-to-risk maximizing agents are unlikely to profit from trading energy futures in addition to energy stocks. Moreover, futures for energy commodities fail to offer significant diversification gains with respect to energy stocks once investors adopt simple dynamic trading strategies that rely on readily available pricing information. (author)
Full Text Available En Chile y Argentina la especie Oligoryzomys longicaudatus ha sido identificada como el principal reservorio para Virus Andes (ANDV. El objetivo de este trabajo es reportar la presencia del virus Andes en Rattus norvergicus, roedor urbano recolectado de un muestreo en San Diego del Cristo, comuna de Melipilla, Región Metropolitana. La presencia del virus Andes en Rattus norvegicus podría indicar la importancia de otros roedores como eventuales vectores virales.In Chile and Argentina Oligoryzomys longicaudatus has been identified as the main reservoir for Hantavirus Andes. The aim of this work was to report the presence of Hantavirus Andes in Rattus norvegicus, an urban rodent collected during sampling in San Diego del Cristo, Melipilla, Metropolitan Region. The existence of Hantavirus Andes in Rattus norvegicus could indicate the importance of other rodents as possible viral vectors.
the driving forces for biotic evolution in Lake Ohrid. It might also enhance our understanding of how ecosystem resilience, in general, may promote relative constant diversification rates in isolated ecosystems. However, we encourage future studies testing hypotheses about the lack of catastrophic events in Lake Ohrid. These studies should be based on high-resolution data for the entire geological history of the lake, and potentially involving information from the sediment fossil record, not only for gastropods but also for other groups with a high share of endemic taxa.
Cooney, Christopher R; Seddon, Nathalie; Tobias, Joseph A
The adaptability of species' climatic niches can influence the dynamics of colonization and gene flow across climatic gradients, potentially increasing the likelihood of speciation or reducing extinction in the face of environmental change. However, previous comparative studies have tested these ideas using geographically, taxonomically and ecologically restricted samples, yielding mixed results, and thus the processes linking climatic niche evolution with diversification remain poorly understood. Focusing on birds, the largest and most widespread class of terrestrial vertebrates, we test whether variation in species diversification among clades is correlated with rates of climatic niche evolution and the extent to which these patterns are modified by underlying gradients in biogeography and species' ecology. We quantified climatic niches, latitudinal distribution and ecological traits for 7657 (˜75%) bird species based on geographical range polygons and then used Bayesian phylogenetic analyses to test whether niche evolution was related to species richness and rates of diversification across genus- and family-level clades. We found that the rate of climatic niche evolution has a positive linear relationship with both species richness and diversification rate at two different taxonomic levels (genus and family). Furthermore, this positive association between labile climatic niches and diversification was detected regardless of variation in clade latitude or key ecological traits. Our findings suggest either that rapid adaptation to unoccupied areas of climatic niche space promotes avian diversification, or that diversification promotes adaptation. Either way, we propose that climatic niche evolution is a fundamental process regulating the link between climate and biodiversity at global scales, irrespective of the geographical and ecological context of speciation and extinction. PMID:27064436
Komer, C. A.; Morgan, P.
The central Andes of South America extend from approximately 14 deg. S to 28 deg. S as an unbroken chain of mountains and volcanoes over 2000 km long. It is here that the Nazca plate dives under the South American plate at angles varying from 10 deg to 30 deg. Very little is known about the volcanoes comprising this classic, subduction-type plate margin. A catalogue of the volcanoes in the central Andes is being prepared by Dr. P.W. Francis and Dr. C.A. Wood at the NASA Lunar and Planetary Institute. At present, more than 800 volcanoes of Cenozoic age have been recognized in the chain, with an estimated 75-80 major, active Quarternary volcanoes. Approximately one hundred 1536 x 1536 pixel color composite Optronics positives were produced from six full LANDSAT Thermatic Mapper scenes and three partial TM scenes. These positives cover a large portion of the central Andes. The positives were produced from LANDSAT data using the VAX imaging package, LIPS. The scenes were first transferred from magnetic tape to disk. The LIPS package was then used to select volcanically interesting areas which were then electronically enhanced. Finally, the selected areas were transferred back to tape and printed on the Optronics equipment. The pictures are color composites using LANDSAT TM bands 7,4, and 2 in the red, green, and blue filters, respectively.
Babatunde, Raphael O.
The promotion of off-farm activities and income diversification in order to provide alternative income earning opportunities for rural households in developing countries has received increased policy attention recently. The growing importance of off-farm activities has also led to rising interest in analyzing the wider implications for household livelihoods and rural development, especially in Africa. In this dissertation, the impact of off-farm income diversification on income, food security...
Full Text Available The issue of diversification, diversification of exports and imports, diversification of foreign trade. Determined the importance of diversification strategy to improve economic performance and proved that diversification allows the flexibility to respond to changing market opportunities and reduce the risks that may occur during production specialization. With the diversification of the company reinforce its competitive position in the market. The concept of diversification is used in the formulation of portfolio strategy as one of the four components, namely a vector or direction of future growth areas of the company. The proposed provisions, by which we can achieve a positive result. Proved that by diversifying, the company improves its economic performance.
Herikstad, Inger Voll; Askø, Elin
We found our Master thesis to be the optimal opportunity to examine the important phenomenon of diversification, but from a different angle than what earlier researchers have done. Diversification is a useful technique for reducing risk in a portfolio and several researches over the years have agreed on the importance of diversification. We observed that researchers tended to base their research on different stock exchanges or brokerage accounts, and put little emphasis on the motives behind ...
Weldegebriel, Zerihun; Prowse, Martin Philip
Social-protection programmes like the Productive Safety-Net Programme (PSNP) in Ethiopia can play a positive role in promoting livelihoods and enhancing risk management. This article uses propensity score matching to estimate its effect on income diversification. The results suggest that receiving...
W. Deng (Wendong)
markdownabstract__Abstract__ This thesis contributes to two research streams of the literature regarding agricultural cooperatives, namely, social capital and product diversification of cooperatives. First, the thesis examines the nature of a marketing cooperative by considering both its economic a
Bilichenko, V.; Tsymbal, S.
The block diagram which with use of imitating modelling will allow to choose optimum strategy diversification the enterprises of automobile transport is developed, having received the maximal profit at the minimal expenses.
Jongmooo Jay Choi
All international investments inevitably have some diversification consequences. Yet the literature on foreign direct investment accords only a limited role to diversification or financial variables. This paper develops a theory of corporate international investment from the standpoint of finance in an environment where the segmentation of international capital markets for individuals or the presence of agency costs provide some independence to corporate decisions separate from shareholders. ...
T. Todd Smith; Garry J. Schinasi
This paper studies the extent to which basic principles of portfolio diversification explain "contagious selling" of financial assets when there are purely local shocks (e.g., a financial crisis in one country). The paper demonstrates that elementary portfolio theory offers key insights into "contagion." Most important, portfolio diversification and leverage are sufficient to explain why an investor will find it optimal to significantly reduce all risky asset positions when an adverse shock i...
İlhan Meriç; Jie Ding; Gülser Meriç
Because of their low correlation with each other and with developed stock markets, emerging stock markets are generally mentioned as attractive portfolio diversification prospects for global investors. In this paper, we use the Principal Components Analysis (PCA) method to study the global portfolio diversification opportunities for the investors of seven developed stock markets in twenty emerging stock markets with data for the January 1, 2003-January 1, 2014 period.
Burress, Edward D.; Alejandro Duarte; Serra, Wilson S.; Marcelo Loueiro; Gangloff, Michael M.; Lynn Siefferman
Ecological speciation is well-known from adaptive radiations in cichlid fishes inhabiting lentic ecosystems throughout the African rift valley and Central America. Here, we investigate the ecological and morphological diversification of a recently discovered lotic predatory Neotropical cichlid species flock in subtropical South America. We document morphological and functional diversification using geometric morphometrics, stable C and N isotopes, stomach contents and character evolution. Thi...
Patrick F. Rowland; Linda L. Tesar
One possible explanation for home bias is that investors may obtain indirect international diversification benefits by investing in multinational firms rather than by investing directly in foreign markets. This paper employs mean-variance spanning tests to examine the diversification potential of multinational firms and foreign market indices for investors domiciled in Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. We find that in most countries and most time...
Full Text Available Because of their low correlation with each other and with developed stock markets, emerging stock markets are generally mentioned as attractive portfolio diversification prospects for global investors. In this paper, we use the Principal Components Analysis (PCA method to study the global portfolio diversification opportunities for the investors of seven developed stock markets in twenty emerging stock markets with data for the January 1, 2003-January 1, 2014 period.
Chen, Lin Yow
Diversification strategy involves decisions about the products that a firm should make and the markets that it competes in. It is a matter that is of great importance to corporate level managers. This report examines the conglomerate approach to diversification, essentially a strategy of broad expansion through the addition of new businesses that are unrelated to existing ones. There are three objectives to this study. The first was to investigate the relationship between the degree of divers...
Arip, Mohammad Affendy; Yee, Lau Sim; Abdul Karim, Bakri
This paper examines the relationship between export diversification and economic growth in Malaysia. We use annual data from 1980-2007 and time-series techniques of cointegration and Granger causality tests to examine the long-run relationship and dynamic interactions among the variables. The results show the presence of a unique cointegrating vector among the four variables. Consistent with previous studies, we found that export diversification plays significant roles to economic growth in M...
Meslier, Céline; Donald P. Morgan; Samolyk, Katherine; Tarazi, Amine
We estimate the benefits of intrastate and interstate geographic diversification for bank risk and return, and assess whether such benefits could be shaped by differences in bank size and disparities in economic conditions within states or across U.S. states. For small banks, only intrastate diversification is beneficial in terms of risk-adjusted returns but for very large institutions both intrastate and interstate expansions are rewarding. However, in all cases the relationship is hump-shap...
Burkholz, Rebekka; Garas, Antonios; Schweitzer, Frank
We consider the problem of risk diversification in complex networks. Nodes represent e.g. financial actors, whereas weighted links represent e.g. financial obligations (credits/debts). Each node has a risk to fail because of losses resulting from defaulting neighbors, which may lead to large failure cascades. Classical risk diversification strategies usually neglect network effects and therefore suggest that risk can be reduced if possible losses (i.e., exposures) are split among many neighbo...
Broll, Udo; Wahl, Jack E.
The value at risk measure attempts to summarize in a single number market value risk of a portfolio of financial assets.The paper focuses on the interaction between the solvency probability of a bank, on one hand, and the diversification potential of its portfolio, on the other hand, when optimum endowment of equity capital is to be determined. Given the necessity to achieve some confidence level of solvency we demonstrate that diversification pays when optimizing the use of the equity resource.
Because corporate diversification and organization co-evolve, diversification discounts, which are widely reported in the literature, can be caused by organizational structure, rather than by the industrial scope of the firm. The paper examines this possibility based on a large sample of Japanese firms for which the legal (parent-subsidiary) structure of the organization is easily observable. I identified a significant discount for diversified firms with and without control over the organizat...
Schlunegger, F.; Norton, K. P.
enhanced orographic rainfall, which promotes thrusting and internal shortening. A fault-scale coupled erosion-deformation model also shows that low erosion rates and steep topographic angles would have forced a migration of deformation from the Western Escarpment to the eastern side. These findings illustrate the strong control of orographic precipitation on the deformation of the Central Andes. Kober, F. et al. Denudation rates and topography-driven rainfall threshold in northern Chile: multiple cosmogenic nuclide data and sediment budgets. Geomorphology 83, 97-120 (2007). Norton, K. & Schlunegger, F. Migrating deformation in the Central Andes from enhanced orographic rainfall. Nat. Commun. 2, 584 (2011). Safran, E. B et al. Erosion rates driven by channel network incision in the Bolivian Andes. Earth Surf. Process Landforms 30, 1007-1024 (2005).
Burkholz, Rebekka; Schweitzer, Frank
We consider the problem of risk diversification in complex networks. Nodes represent e.g. financial actors, whereas weighted links represent e.g. financial obligations (credits/debts). Each node has a risk to fail because of losses resulting from defaulting neighbors, which may lead to large failure cascades. Classical risk diversification strategies usually neglect network effects and therefore suggest that risk can be reduced if possible losses (i.e., exposures) are split among many neighbors (exposure diversification, ED). But from a complex networks perspective diversification implies higher connectivity of the system as a whole which can also lead to increasing failure risk of a node. To cope with this, we propose a different strategy (damage diversification, DD), i.e. the diversification of losses that are imposed on neighboring nodes as opposed to losses incurred by the node itself. Here, we quantify the potential of DD to reduce systemic risk in comparison to ED. For this, we develop a branching proce...
There are several research activities to enhance safety and reliability of nuclear power plant operation and maintenance. We are developing a concept of an autonomous operation system where the role of operators is replaced with artificial intelligence. The purpose of the study described in this report is to develop a operator support system in abnormal plant situations. Conventionally, diagnostic modules based on individual methodology such as expert system have been developed and verified. In this report, methodology diversification is considered to integrate diagnostic modules which performance are confirmed using information processing technique. Technical issues to be considered in diagnostic methodology diversification are; 1)reliability of input data, 2)diversification of knowledge models, algorithms and reasoning schemes, 3)mutual complement and robustness. The diagnostic module utilizing the different approaches defined along with strategy of diversification was evaluated using fast breeder plant simulator. As a result, we confirmed that any singular diagnostic module can not meet accuracy criteria for the entire set of anomaly events. In contrast with this, we confirmed that every abnormality could be precisely diagnosed by a mutual combination. In other words, legitimacy of approach selected by strategy of diversification was shown, and methodology diversification attained clear efficiency for abnormal diagnosis. It has been also confirmed that the diversified diagnostic system implemented in this study is able to maintain its accuracy even in case that encountered scale of abnormality is different from reference cases embedded in the knowledge base. (author)
Lagomarsino, Laura P; Condamine, Fabien L; Antonelli, Alexandre; Mulch, Andreas; Davis, Charles C
The tropical Andes of South America, the world's richest biodiversity hotspot, are home to many rapid radiations. While geological, climatic, and ecological processes collectively explain such radiations, their relative contributions are seldom examined within a single clade. We explore the contribution of these factors by applying a series of diversification models that incorporate mountain building, climate change, and trait evolution to the first dated phylogeny of Andean bellflowers (Campanulaceae: Lobelioideae). Our framework is novel for its direct incorporation of geological data on Andean uplift into a macroevolutionary model. We show that speciation and extinction are differentially influenced by abiotic factors: speciation rates rose concurrently with Andean elevation, while extinction rates decreased during global cooling. Pollination syndrome and fruit type, both biotic traits known to facilitate mutualisms, played an additional role in driving diversification. These abiotic and biotic factors resulted in one of the fastest radiations reported to date: the centropogonids, whose 550 species arose in the last 5 million yr. Our study represents a significant advance in our understanding of plant evolution in Andean cloud forests. It further highlights the power of combining phylogenetic and Earth science models to explore the interplay of geology, climate, and ecology in generating the world's biodiversity. PMID:26990796
van de Sande, Brett; Vanlehn, Kurt; Treacy, Don; Shelby, Bob; Wintersgill, Mary
The size of introductory physics lectures often inhibits personal homework assistance and timely corrective feedback. Andes, an intelligent homework help system designed for two semesters of introductory physics, can fill this need by encouraging students to use sound problem solving techniques and providing immediate feedback on each step of a solution. On request, Andes provides principles-based hints based on previous student actions. A multi-year study at the U.S. Naval Academy demonstrates that students using Andes perform better than students working the same problems as graded pencil and paper homeworks. In addition, student attitude surveys show that Andes is preferred over other homework systems. These findings have implications for student attitudes toward, and mastery of, physics. See http://www.andes.pitt.edu for more information.
Schnitzler, Jan; Kučinić, Mladen; Graf, Wolfram; Ibrahimi, Halil; Kerovec, Mladen
The karst areas in the Dinaric region of the Western Balkan Peninsula are a hotspot of freshwater biodiversity. Many investigators have examined diversification of the subterranean freshwater fauna in these karst systems. However, diversification of surface-water fauna remains largely unexplored. We assessed local and regional diversification of surface-water species in karst systems and asked whether patterns of population differentiation could be explained by dispersal–diversification processes or allopatric diversification following karst-related microscale vicariance. We analyzed mitochondrial cytochrome c oxidase subunit I (mtCOI) sequence data of 4 caddisfly species (genus Drusus) in a phylogeographic framework to assess local and regional population genetic structure and Pliocene/Pleistocene history. We used BEAST software to assess the timing of intraspecific diversification of the target species. We compared climate envelopes of the study species and projected climatically suitable areas during the last glacial maximum (LGM) to assess differences in the species climatic niches and infer potential LGM refugia. The haplotype distribution of the 4 species (324 individuals from 32 populations) was characterized by strong genetic differentiation with few haplotypes shared among populations (16%) and deep divergence among populations of the 3 endemic species, even at local scales. Divergence among local populations of endemics often exceeded divergence among regional and continental clades of the widespread D. discolor. Major divergences among regional populations dated to 2.0 to 0.5 Mya. Species distribution model projections and genetic structure suggest that the endemic species persisted in situ and diversified locally throughout multiple Pleistocene climate cycles. The pattern for D. discolor was different and consistent with multiple invasions into the region. Patterns of population genetic structure and diversification were similar for the 3 regional
Full Text Available Long-term field studies in the scope of a multidisciplinary project in southern Ecuador revealed extraordinary high species numbers of many organismic groups. This article discusses reasons for the outstanding vascular plant diversity using a hierarchical scale-oriented top-down approach (Grüninger 2005, from the global scale to the local microscale. The global scale explains general (paleo- ecological factors valid for most parts of the humid tropics, addressing various hypotheses and theories, such as the “greater effective evolutionary time”, constant input of “accidentals”, the “seasonal variability hypothesis”, the “intermediate disturbance hypothesis”, and the impact of soil fertility. The macroscale focuses on the Andes in northwestern South America. The tropical Andes are characterised by many taxa of restricted range which is particularly true for the Amotape-Huancabamba region, i.e. the so called Andean Depression, which is effective as discrete phytogeographic transition as well as barrier zone. Interdigitation of northern and southern flora elements, habitat fragmentation, geological and landscape history, and a high speciation rate due to rapid genetic radiation of some taxa contribute to a high degree of diversification. The mesoscale deals with the special environmental features of the eastern mountain range, the Cordillera Real and surrounding areas in southern Ecuador. Various climatic characteristics, the orographic heterogeneity, the geologic and edaphic conditions as well as human impact are the most prominent factors augmenting plant species diversity. On microscale, prevailing regimes of disturbance and environmental stresses, the orographic basement, as well as the general role on the various mountain chains are considered. Here, micro-habitats e.g. niches for epiphytes, effects of micro-relief patterns, and successions after small-sized disturbance events are screened. Direct effects of human impact are
Smith, J E; Black, B L
Participation by hospital pharmacy departments in planning and development of diversified services is described. Diversification requires market planning. Seven basic marketing steps are identification of mission, goals, and objectives; identification of growth strategies (market penetration, market development, product development, and diversification); market analysis of external factors (size, growth, and logistics; reimbursement and financial considerations; competition; regulatory issues; and legal issues); market analysis of internal factors (departmental organization and reporting lines, demographics of the institution, and costs and productivity associated with the new service); program development and design; implementation; and evaluation. Hospitals can diversify by expanding acute-care services through management contracts and mergers; developing new services to include long-term-care, ambulatory-care, occupational-health, and wellness programs; starting other health-care ventures, such as consulting, continuing medical education, and continuing education for nurses; and expanding into non-health-care businesses. Vertical diversification is finding new markets for existing services; horizontal diversification is development of new services for new markets. To diversify, an institution may need to change its corporate structure; it may form a family of corporations that includes a university, nonprofit hospitals, holding companies, for-profit corporations, joint ventures, and service organizations. Through diversification, institutions and pharmacy departments can create alternative sources of funding and offer more comprehensive services to patients. PMID:3605115
Tecnatom is developing since several years ago the diversification of technologies and markets given its enterprise vocation of technological leadership in the services and products supplied in both the national and international nuclear market. In this paper, a description of the historical development of these technologies is made, and how the diversification is initiated in the global market, as well as the identification of the segments of the industrial market where services and products of high technology can be provided. A description of the diversification strategy is included and several results of this policy are presented for the aircraft and space market, the transport market, the industrial processes market, etc. Finally, examples of developments of new technologies of virtual reality and augmented reality are explained and how these new capabilities feedback in the nuclear market. (Author)
US Fish and Wildlife Service, Department of the Interior — This collection of monthly activity reports summarizes activities on Lake Andes NWR, Lake Andes WMD, and Karl E. Mundt NWR during the 1975 calendar year. Resource...
WAN, Zhixi; Damian R. Beil
In this paper, the authors examine a supply base diversification problem faced by a buyer who periodically holds auctions to award short term supply contracts among a cohort of suppliers (i.e., the supply base). To mitigate significant cost shocks to procurement, the buyer can diversify her supply base by selecting suppliers from different regions. The authors find that the optimal degree of supply base diversification depends on the buyer’s bargaining power, i.e., the buyer’s ability to choo...
Ribas, Camila C.; Aleixo, Alexandre; Nogueira, Afonso C. R.; Miyaki, Cristina Y.; Cracraft, Joel
Many hypotheses have been proposed to explain high species diversity in Amazonia, but few generalizations have emerged. In part, this has arisen from the scarcity of rigorous tests for mechanisms promoting speciation, and from major uncertainties about palaeogeographic events and their spatial and temporal associations with diversification. Here, we investigate the environmental history of Amazonia using a phylogenetic and biogeographic analysis of trumpeters (Aves: Psophia), which are represented by species in each of the vertebrate areas of endemism. Their relationships reveal an unforeseen ‘complete’ time-slice of Amazonian diversification over the past 3.0 Myr. We employ this temporally calibrated phylogeny to test competing palaeogeographic hypotheses. Our results are consistent with the establishment of the current Amazonian drainage system at approximately 3.0–2.0 Ma and predict the temporal pattern of major river formation over Plio-Pleistocene times. We propose a palaeobiogeographic model for the last 3.0 Myr of Amazonian history that has implications for understanding patterns of endemism, the temporal history of Amazonian diversification and mechanisms promoting speciation. The history of Psophia, in combination with new geological evidence, provides the strongest direct evidence supporting a role for river dynamics in Amazonian diversification, and the absence of such a role for glacial climate cycles and refugia. PMID:21795268
Van Dyk, Francois; Van Vuuren, Gary; Styger, Paul
The residual variance method is the traditional method for measuring portfolio diversification relative to a market index. Problems arise, however, when the market index itself is not appropriately diversified. A diversification measurement (Portfolio Diversification Index), free from market index influences, has been recently introduced. This article explores whether this index is a robust and 'good' diversification measure compared with the residual variance method. South African unit trust...
This paper provides an overview of patterns in farm, agro and rural tourism development in a way of farm, agro and rural economy diversification to achieve economic and environmental sustainability. The importance of rural tourism in the rural economy is increasing by farm, agro and rural economy diversification addressing its multifunctional development. The European Union policies are targeting both, farm and agro diversification as well as rural economy diversification. Farm, agro and rura...
ANA I. SINDE-CANTORNA; ANA GUEIM ONDE-CANTO; Mª ISABEL DIÉGUEZ-CASTRILLÓN
Determinants and performance of diversification strategy have been approached frequently in the literature. Nevertheless, there are only a few studies that analyze the diversification in sectors where the impulse to diversify is not strictly economic, but political or social. Diversification of agricultural and farm activity towards the tourism in Galicia is a clear example. The aim of this paper is to determine the factors that motivate holders of farmers to initiating a strategy of diversif...
Rebecca S. Demsetz; Philip E. Strahan
This paper shows that large BHCs are better diversified than small BHCs based on market measures of diversification. We find, however, that better diversification does not translate into reductions in overall risk. The risk reducing potential of diversification at large BHCs is offset by their lower capital ratios, larger C&I loan portfolios, and greater use of derivatives. Our results suggest that asset growth should enhance diversification but that the effects on risk will depend on the ext...
The current study explores relationship between the crop diversification and risk in India. Herfindahl Index has been used to analyse the level of crop diversification across the major states over the period of study. An effort has been made to compute yield risk and price risk of each state using the Markowitz's Mean-variance theory and map it with the crop diversification for the corresponding states. Result shows that, while the relationship is positive in the case of crop-diversification ...
Randy I . Anderson; Stowe, John D; Xuejing Xing
The main purpose of this paper is to investigate empirically whether corporate diversification reduces the risk of the diversifying firm. We investigate this issue using a sample of diversifying acquisitions and various risk measures. We find that corporate diversification tends to decrease the risk of some firms but increase the risk of many others. On average corporate diversification does not lower firm risk. These findings call into question the notion that corporate diversification stric...
Ratcliff, William C; Hawthorne, Peter; Libby, Eric
Life is full of risk. To deal with this uncertainty, many organisms have evolved bet-hedging strategies that spread risk through phenotypic diversification. These rates of diversification can vary by orders of magnitude in different species. Here we examine how key characteristics of risk and organismal ecology affect the fitness consequences of variation in diversification rate. We find that rapid diversification is strongly favored when the risk faced has a wide spatial extent, with a singl...
US Fish and Wildlife Service, Department of the Interior — This narrative report summarizes activities on Lake Andes NWR between September and December of 1946. Water conditions, waterfowl, furbearers, maintenance and...
Full Text Available This paper applies the mean-variance portfolio optimization (PO approach and the stochastic dominance (SD test to examine preferences for international diversification versus domestic diversification from American investors’ viewpoints. Our PO results imply that the domestic diversification strategy dominates the international diversification strategy at a lower risk level and the reverse is true at a higher risk level. Our SD analysis shows that there is no arbitrage opportunity between international and domestic stock markets; domestically diversified portfolios with smaller risk dominate internationally diversified portfolios with larger risk and vice versa; and at the same risk level, there is no difference between the domestically and internationally diversified portfolios. Nonetheless, we cannot find any domestically diversified portfolios that stochastically dominate all internationally diversified portfolios, but we find some internationally diversified portfolios with small risk that dominate all the domestically diversified portfolios.
Full Text Available Morphological and DNA sequence data has been used to propose hypotheses of relationships within the Characiformes with minimal comparative discussion of causes underpinning the major intraordinal diversification patterns. We explore potential primary morphological factors controlling the early diversification process in some Neotropical characiforms as the first step to identifying factors contributing to the pronounced intraordinal morphological and species diversity. A phylogenetic reconstruction based on 16S rDNA (mitochondrial and 18S rDNA (nuclear genes provided the framework for the identification of the main morphological differences among the Acestrorhynchidae, Anostomidae, Characidae, Ctenoluciidae, Curimatidae, Cynodontidae, Gasteropelecidae, Prochilodontidae and Serrasalmidae. Results indicate an initial split into two major groupings: (i species with long dorsal-fin bases relative to the size of other fins (Curimatidae, Prochilodontidae, Anostomidae, Serrasalmidae which primarily inhabit lakes, swamps, and rivers (lineage I; and (ii species with short dorsal-fin bases (Acestrorhynchidae, Gasteropelecidae, Characidae which primarily inhabit creeks and streams (lineage II. The second diversification stage in lineage I involved substantial morphological diversification associated with trophic niche differences among the monophyletic families which range from detritivores to large item predators. Nonmonophyly of the Characidae complicated within lineage II analyzes but yielded groupings based on differences in pectoral and anal fin sizes correlated with life style differences.
Skipper, P. K.
In reaction to the economic risks associated with an over reliance on oil and gas exports, residents of the Midland/Odessa area of Texas began seeking diversification options for the local economy and, in 1986, formed the Midland/Odessa Health and Retirement Endeavor (MOHRE). This non-profit corporation was formed to examine the feasibility of…
Carmona, Julio; León, Ángel; Vaello-Sebastià, Antoni
We study the time diversification issue in the context of the optimal asset allocation of an executive with decreasing relative risk aversion preferences, who is granted a package of European stock options. The asset menu for his unrestricted wealth includes both market portfolio and money account.
Burkholz, Rebekka; Garas, Antonios; Schweitzer, Frank
We study the influence of risk diversification on cascading failures in weighted complex networks, where weighted directed links represent exposures between nodes. These weights result from different diversification strategies and their adjustment allows us to reduce systemic risk significantly by topological means. As an example, we contrast a classical exposure diversification (ED) approach with a damage diversification (DD) variant. The latter reduces the loss that the failure of high degree nodes generally inflict to their network neighbors and thus hampers the cascade amplification. To quantify the final cascade size and obtain our results, we develop a branching process approximation taking into account that inflicted losses cannot only depend on properties of the exposed, but also of the failing node. This analytic extension is a natural consequence of the paradigm shift from individual to system safety. To deepen our understanding of the cascade process, we complement this systemic perspective by a mesoscopic one: an analysis of the failure risk of nodes dependent on their degree. Additionally, we ask for the role of these failures in the cascade amplification.
@@ The Eighth Five-Year Plan period witnessed rapid the development in the diversification business of China's onshore petroleum industry for five consecutive years mainly as a result of intensified efforts to develop new products and foreign- exchange- earning products by making full use of science and technology. In particular, great achievements were recorded in the following aspects.
Joy, Jeffrey B
Interactions between species are important catalysts of the evolutionary processes that generate the remarkable diversity of life. Symbioses, conspicuous and inherently interesting forms of species interaction, are pervasive throughout the tree of life. However, nearly all studies of the impact of species interactions on diversification have concentrated on competition and predation leaving unclear the importance of symbiotic interaction. Here, I show that, as predicted by evolutionary theories of symbiosis and diversification, multiple origins of a key innovation, symbiosis between gall-inducing insects and fungi, catalysed both expansion in resource use (niche expansion) and diversification. Symbiotic lineages have undergone a more than sevenfold expansion in the range of host-plant taxa they use relative to lineages without such fungal symbionts, as defined by the genetic distance between host plants. Furthermore, symbiotic gall-inducing insects are more than 17 times as diverse as their non-symbiotic relatives. These results demonstrate that the evolution of symbiotic interaction leads to niche expansion, which in turn catalyses diversification. PMID:23390106
Key innovations are traits that are associated with the particular evolutionary 'success' of some taxonomic groups. Climbing plants depend on the availability of physical support to reach the canopy and thereby prevent shading by neighbouring plants. The present article shows that the evolution of a climbing habit in flowering plants constitutes a key innovation. A literature survey identified 48 pairs of sister groups from 45 families of flowering plants for which information on phylogenetic...
Kasperski, Stephen; Holland, Daniel S
Catches and prices from many fisheries exhibit high interannual variability, leading to variability in the income derived by fishery participants. The economic risk posed by this may be mitigated in some cases if individuals participate in several different fisheries, particularly if revenues from those fisheries are uncorrelated or vary asynchronously. We construct indices of gross income diversification from fisheries at the level of individual vessels and find that the income of the current fleet of vessels on the US West Coast and in Alaska is less diverse than at any point in the past 30 y. We also find a dome-shaped relationship between the variability of individuals' income and income diversification, which implies that a small amount of diversification does not reduce income risk but that higher levels of diversification can substantially reduce the variability of income from fishing. Moving from a single fishery strategy to a 50-25-25 split in revenues reduces the expected coefficient of variation of gross revenues between 24% and 65% for the vessels included in this study. The increasing access restrictions in many marine fisheries through license reductions and moratoriums have the potential to limit fishermen's ability to diversify their income risk across multiple fisheries. Catch share programs often result in consolidation initially and may reduce diversification. However, catch share programs also make it feasible for fishermen to build a portfolio of harvest privileges and potentially reduce their income risk. Therefore, catch share programs create both threats and opportunities for fishermen wishing to maintain diversified fishing strategies. PMID:23341621
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Lake Andes WMD, and Karl E. Mundt NWR outlines Refuge accomplishments during the 1983 calendar year. The report...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Lake Andes WMD, and Karl E. Mundt NWR outlines Refuge accomplishments during the 1981 calendar year. The report...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Lake Andes WMD, and Karl E. Mundt NWR outlines Refuge accomplishments during the 1982 calendar year. The report...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Lake Andes WMD, and Karl E. Mundt NWR outlines Refuge accomplishments during the 1984 calendar year. The report...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Lake Andes WMD, and Karl E. Mundt NWR outlines Refuge accomplishments during the 1985 calendar year. The report...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Lake Andes WMD, and Karl E. Mundt NWR outlines Refuge accomplishments during the 1989 calendar year. The report...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Lake Andes WMD, and Karl E. Mundt NWR outlines Refuge accomplishments during the 1986 calendar year. The report...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Lake Andes WMD, and Karl E. Mundt NWR outlines Refuge accomplishments during the 1988 calendar year. The report...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Lake Andes WMD, and Karl E. Mundt NWR outlines Refuge accomplishments during the 1987 calendar year. The report...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Karl Mundt NWR, and Lake Andes WMD outlines Refuge accomplishments during the 1992 calendar year. The report begins...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Karl Mundt NWR, and Lake Andes WMD outlines Refuge accomplishments during the 1993 calendar year. The report begins...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Karl Mundt NWR, and Lake Andes WMD outlines Refuge accomplishments during the 1991 calendar year. The report begins...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR, Lake Andes WMD, and Karl E. Mundt NWR outlines Refuge accomplishments during the 1990 calendar year. The report...
Burress, Edward D.; Duarte, Alejandro; Serra, Wilson S.; Loueiro, Marcelo; Gangloff, Michael M.; Siefferman, Lynn
Ecological speciation is well-known from adaptive radiations in cichlid fishes inhabiting lentic ecosystems throughout the African rift valley and Central America. Here, we investigate the ecological and morphological diversification of a recently discovered lotic predatory Neotropical cichlid species flock in subtropical South America. We document morphological and functional diversification using geometric morphometrics, stable C and N isotopes, stomach contents and character evolution. This species flock displays species-specific diets and skull and pharyngeal jaw morphology. Moreover, this lineage appears to have independently evolved away from piscivory multiple times and derived forms are highly specialized morphologically and functionally relative to ancestral states. Ecological speciation played a fundamental role in this radiation and our data reveal novel conditions of ecological speciation including a species flock that evolved: 1) in a piscivorous lineage, 2) under lotic conditions and 3) with pronounced morphological novelties, including hypertrophied lips that appear to have evolved rapidly. PMID:24278349
Baker, William J.; Eiserhardt, Wolf L.; Kissling, W. Daniel;
Recent biogeographic and ecoinformatic studies of palms provide a global context for the spatio-temporal evolution of palms and the tropical rain forests that they inhabit. Palms display high rain forest niche conservatism, with >90% of species occurring in this biome. The global distribution of...... clades and species richness is highly structured, suggestive of complex, differentiated patterns of evolutionary drivers. Macroecological studies show that palm species richness is globally contingent on climatic variables typical of the humid tropics, while island palm floras are also influenced by area...... for our understanding of rain forests because fossil evidence for this biome prior to the Palaeocene is weak. Lineage diversification in palms has proceeded in a constant manner from 100 Ma at least until the Miocene, conforming to the museum model of diversification. Since the Miocene...
Full Text Available International portfolio diversification is often advocated as a way of enhancing portfolio performance particularly through the reduction of portfolio risk. Portfolio managers in Europe have for decades routinely invested a substantial portion of their portfolios in securities that were issued in other countries. During the last decade US investors have held a significant amount of foreign securities with over a trillion dollars invested in foreign assets by 1994. South African institutions have been allowed some freedom to diversify internationally since mid 1995 and individual investors since July 1997. In this paper the potential diversification benefits for South African investors are considered. The stability over time of the correlation structure is investigated and simple ex-ante investment strategies are formulated and evaluated.
Christoffersen, Peter; Errunza, Vihang; Jacobs, Kris;
International equity markets are characterized by nonlinear dependence and asymmetries. We propose a new dynamic asymmetric copula model to capture long-run and short-run dependence, multivariate nonnormality, and asymmetries in large cross-sections. We find that correlations have increased marke...... and nonlinear dependence. The benefits from international diversification have reduced over time, drastically so for DMs. EMs still offer significant diversification benefits, especially during large market downturns.......International equity markets are characterized by nonlinear dependence and asymmetries. We propose a new dynamic asymmetric copula model to capture long-run and short-run dependence, multivariate nonnormality, and asymmetries in large cross-sections. We find that correlations have increased...
Hughes, John S; Jing LIU; LIU Jun
We investigate the effects of information and diversification on cost of capital in a noisy rational expectations model. Assuming a factor structure for risky asset payoffs and two classes of investors, informed and uninformed, we show that in large economies the APT (Ross, 1976) holds and i) information from private signals about idiosyncratic shocks has no effect on cost of capital and ii) information from private signals about systematic factors affects cost of capital only through factor ...
Hicham Benjelloun; Abdulkader M.A. Abdullah
Purpose – The purpose of this paper is to investigate how best to diversify in Saudi Arabia's stock market. Design/methodology/approach – The analysis proceeds as follows: first, repeated sampling with replacement from a sample of 62 actual companies' monthly stock returns from January 2001 to June 2006 is used to simulate the performance of various portfolio sizes; second, a modified Statman diversification model is used to evaluate the performance of index funds in Saudi Arabia and thus ass...
We derive empirical tests for stochastic dominance that allow for diversification between choice alternatives. The tests can be computed using straightforward linear programming. Bootstrapping techniques and asymptotic distribution theory can approximate the sampling properties of the test results and allow for statistical inference. Our results could provide a stimulus to the further proliferation of stochastic dominance for the problem of portfolio selection and evaluation (as well as other...
Phylogenetic trees of present-day species allow investigation of the rate of evolution that led to the present-day diversity. A recent analysis of the mammalian phylogeny challenged the view of explosive mammalian evolution after the Cretaceous–Tertiary (K/T) boundary (65 Mya). However, due to lack of appropriate methods, the diversification (speciation minus extinction) rates in the more recent past of mammalian evolution could not be determined. In this paper, I provide a method that reveal...
There is now a substantial literature on the effects of rebalancing on portfolio performance. It is widely argued in the theoretical literature that rebalanced strategies are inherently likely to generate greater terminal wealth than unrebalanced strategies, although empirical studies do not generally support this claim. We show that this claim is based on a misattribution between ‘rebalancing returns’ which are specific to the act of rebalancing, and ‘diversification returns’ which can be ea...
John D. Burger; Warnock, Francis E.
This paper has two main goals: to analyze country allocations in international bond portfolios and to describe the development of bond markets around the world. In the primary analysis, we find that country weights in U.S. investors' foreign bond portfolios are determined by the openness of capital accounts and potential diversification benefits. Positions in local-currency-denominated bonds are particularly sensitive to past and prospective volatility of returns. Analysis of reallocations in...
Bürgi, Roland; Dacorogna, Michel M; Iles, Roger
Insurance and reinsurance live and die from the diversification benefits or lack of it in their risk portfolio. The new solvency regulations allow companies to include them in their computation of risk-based capital (RBC). The question is how to really evaluate those benefits. To compute the total risk of a portfolio, it is important to establish the rules for aggregating the various risks that compose it. This can only be done through modelling of their dependence. It is a well known...
Kpate ADJAOUTE; Danthine, Jean-Pierre
Diversification opportunities in Euroland appear to have improved significantly since the advent of the euro, thus invalidating the prospects identified in the last years of the convergence-to-EMU period. We identify low frequency movements in the time series of return dispersions suggestive of cycles and long swings in return correlations. The most recent post-euro period is clearly associated with an important upswing with return dispersions exceeding for the first time their peaks of the e...
We study the dependence between the downside risk of European banks and insurers. Since the downside risk of banks and insurers differs, an interesting question from a supervisory point of view is the risk reduction that derives from diversification within large banks and financial conglomerates. We discuss the limited value of the normal distribution based correlation concept, and propose an alternative measure which better captures the downside dependence given the fat tail property of the ...
Risk managers use portfolios to diversify away the unpriced risk of individual securities. In this article we compare the benefits of portfolio diversification for downside risk in case returns are normally distributed with the case of fat-tailed distributed returns. The downside risk of a security is decomposed into a part which is attributable to the market risk, an idiosyncratic part, and a second independent factor. We show that the fat-tailed-based downside risk, measured as value-at-ris...
markdownabstract__Abstract__ This thesis contributes to two research streams of the literature regarding agricultural cooperatives, namely, social capital and product diversification of cooperatives. First, the thesis examines the nature of a marketing cooperative by considering both its economic and social attributes. Several formal models are formulated to address the interaction between cooperative governance structure and the different dimensions of cooperative social capital. The coopera...
García-R, Juan C.; Crawford, Andrew J.; Mendoza, Ángela María; Ospina, Oscar; Cardenas, Heiber; Castro, Fernando
The Andes of South America hosts perhaps the highest amphibian species diversity in the world, and a sizable component of that diversity is comprised of direct-developing frogs of the genus Pristimantis (Anura: Craugastoridae). In order to better understand the initial stages of species formation in these frogs, this study quantified local-scale spatial genetic structuring in three species of Pristimantis. DNA sequences of two mitochondrial gene fragments (16S and COI) were obtained from P. brevifrons, P. palmeri and P. jubatus at different locations in the Cordillera Occidental. We found high levels of genetic diversity in the three species, with highly structured populations (as measured by FST) in P. brevifrons and P. palmeri while P. jubatus showed panmixia. Large effective population sizes, inferred from the high levels of genetic diversity, were found in the three species and two highly divergent lineages were detected within P. jubatus and P. palmeri. Estimated divergence times among populations within P. brevifrons and P. palmeri coincide with the Pleistocene, perhaps due to similar responses to climatic cycling or recent geological history. Such insights have important implications for linking alpha and beta diversity, suggesting regional scale patterns may be associated with local scale processes in promoting differentiation among populations in the Andes. PMID:23049941
Ooi Chai-Aun; Hooy Chee-Wooi; Mat Som Ahmad Puad
The unstable environment of hotel industry which is driven by the fluctuation of tourism demand has motivated this study to look into the best diversification strategy for firm performance betterment. 42 hotel firms are investigated across 4 Asian economies, from year 2001 to 2012. Our results suggest that unrelated industrial diversification is the only alternative to improve hotel firm performance. Unrelated international diversification instead has a significant negative effect towards fir...
Mueller, Glenn R.
Diversification of real estate portfolios has historically been accomplished by utilizing a geographic and/or property-type strategy. More recently, a number of economically based diversification categories have been proposed by industry researchers (see Hartzell, Shulman and Wurtzebach, 1987 and Wurtzebach, 1988). This study tests the efficiency of the existing geographic and geographic/economic strategies currently in the literature against an economically based diversification strategy usi...
In this paper a model based on conflicts of interest between shareholders, the CEO and divisional managers is developed to explain why corporate diversification is good for some firms and bad for others. It is shown that when the decision to diversify is endogenous, whether diversification destroys value depends on the severity of con‡icts of interests and the complementarities across divisions and not, as usual in the literature that explains value-decreasing diversification, on the efficien...
Portfolio diversification and active risk management are essential parts of financial analysis which became even more crucial (and questioned) during and after the years of the Global Financial Crisis. We propose a novel approach to portfolio diversification using the information of searched items on Google Trends. The diversification is based on an idea that popularity of a stock measured by search queries is correlated with the stock riskiness. We penalize the popular stocks by assigning th...
Walden, Johan; Ibragimov, Rustam
This paper analyzes portfolio diversification for nonlinear transformations of heavy-tailed risks. It is shown that diversification of a portfolio of convex functions of heavy-tailed risks increases the portfolioâ€™s riskiness if expectations of these risks are infinite. In contrast, for concave functions of heavy-tailed risks with finite expectations, the stylized fact that diversification is preferable continues to hold. The framework of transformations of heavy-tailed risks includes many m...
Udai Lal Paliwal
Maximizing returns and minimizing risk through diversification has been a popular topic in economics and finance research. Studies have shown that correlation among international portfolio returns increases during periods of turbulence in capital markets, meaning that benefits from international diversification are lost exactly when they are needed most (Bodie, Kane & Marcus, 2008). This and other similar findings pave the way for nontraditional diversification strategies. The present pap...
Kevin Moran; Benoît Carmichael; Gilles Boevi Koumou
This paper extends the use of Rao (1982b)'s Quadratic Entropy (RQE) to modern portfolio theory. It argues that the RQE of a portfolio is a valid, exible and unifying approach to measuring portfolio diversification. The paper demonstrates that portfolio's RQE can encompass most existing measures, such as the portfolio variance, the diversification ratio, the normalized portfolio variance, the diversification return or excess growth rates, the Gini-Simpson indices, the return gaps, Markowitz's ...
Diversification return is an incremental return earned by a rebalanced portfolio of assets. The diversification return of a rebalanced portfolio is often incorrectly ascribed to a reduction in variance. We argue that the underlying source of the diversification return is the rebalancing, which forces the investor to sell assets that have appreciated in relative value and buy assets that have declined in relative value, as measured by their weights in the portfolio. In contrast, the incrementa...
Ibragimov, Rustam; Walden, Johan
Recent results in value at risk analysis show that, for extremely heavy-tailed risks with unbounded distribution support, diversification may increase value at risk, and that generally it is difficult to construct an appropriate risk measure for such distributions. We further analyze the limitations of diversification for heavy-tailed risks. We provide additional insight in two ways. First, we show that similar non-diversification results are valid for a large class of risks with bounded supp...
This paper revisits the Home Bias Puzzle -- the relatively low interna- tional diversification of portfolios. We suggest that part of the diversifi- cation puzzle may be due to reliance on the conventional CAPM model as the benchmark predicting patterns of diversification. We compare the asset diver- sification patterns of agents who maximize a generalized expected utility (GEU) to the diversification of agents who maximize the conventional expected utility (EU). Specifically, we derive the p...
An influential theoretical literature has observed that economic diversification can reduce risk and increase financial development. But causality operates in both directions, as a well functioning financial system can enable a society to invest in more productive but risky projects, thereby determining the degree of economic diversification. Thus, ordinary least squares (OLS) estimates of the impact of economic diversification on financial development are likely to be biased. Motivated by th...
Full Text Available The beneficial effects of diversified income portfolios are well documented in previous research on non-profit organizations. This study examines how different types of organizational missions affect the level of revenue diversification of organizations in one industry, a question that was neglected in previous research. Based on contingency theory, it is assumed that different missions are associated with different funding sources. Since missions can be complementary or conflicting, specific attention needs to be paid to the combination of missions. The sport sector is chosen as an empirical setting because non-profit sports clubs can have various missions while their overall purpose is promoting sport. Panel data from a nationwide survey of non-profit sports clubs in Germany are used for the analysis. The regression results show that revenue diversification is significantly determined by organizational mission. Historically, typical mission statements like promoting elite sport, tradition, conviviality, non-sport programs, and youth sport have a positive effect on revenue diversification, while clubs with a commercial orientation and a focus on leisure and health sport have more concentrated revenues. The findings have implications for club management in the sense that some missions are associated with higher financial risk and that the combination of missions should be chosen carefully.
Full Text Available The unstable environment of hotel industry which is driven by the fluctuation of tourism demand has motivated this study to look into the best diversification strategy for firm performance betterment. 42 hotel firms are investigated across 4 Asian economies, from year 2001 to 2012. Our results suggest that unrelated industrial diversification is the only alternative to improve hotel firm performance. Unrelated international diversification instead has a significant negative effect towards firm performance. Our results further show that board of directors implies a significant link to the relationship between diversification and firm performance, only in a crisis period.
Singh, N. P.; Kumar, Ranjit; Singh, R.P.
The pattern of diversification across states/crops in India has been schematized and various determinants of diversification have been deciphered. To objectively confer the empirical resonance, values of Simpson index have been estimated. The diversification index (SID) has been found to range from 0.47 (WB) to 0.90 (Karnataka) in 1990-91 and from 0.40 (Orissa) to 0.92 (Karnataka) in 2000-01. The increase in diversification Index signifies shift towards non-foodgrain crops. In Karnataka, thou...
It is beyond controversy that the majority of the largest companies in the industrialized countries perform to a certain extent product diversification strategies. Tying up to this finding the underlying work firstly deals with alternative theoretical and empirical definitions of corporate diversification. Subsequently the theoretical part mainly elaborates an industrial economic framework for categorizing motives of firm diversification. Despite of some inevitable degree of arbitrariness, a relatively widespread and sufficient categorization can be presented. With regards to the relevant economic literature most explanations of product diversification can be classified appropriately. Observing diversification activities one would prima facie infer a positive relationship between product diversification and firm performance, but both, theory and empirical evidence, yield ambiguous results. The empirical part provides a list of existing studies, classified according to the theoretical categorization. In an overview some stylised facts are filtered and discussed consecutively. Most notably, it was found that related diversification strategies significantly outperform strategies of unrelated diversification. At the end of the empirical section econometric methods are applied to agricultural and industrial economic (relating to telecommunication markets) data sets. For the agricultural studies a significantly positive relationship between product diversification and firm performance was found. In contrast no significant results were obtained for the telecommunication markets. (author)
Bush, Andrew M; Novack-Gottshall, Philip M
The ecological traits and functional capabilities of marine animals have changed significantly since their origin in the late Precambrian. These changes can be analysed quantitatively using multi-dimensional parameter spaces in which the ecological lifestyles of species are represented by particular combinations of parameter values. Here, we present models that describe the filling of this multi-dimensional 'ecospace' by ecological lifestyles during metazoan diversification. These models reflect varying assumptions about the processes that drove ecological diversification; they contrast diffusive expansion with driven expansion and niche conservatism with niche partitioning. Some models highlight the importance of interactions among organisms (ecosystem engineering and predator-prey escalation) in promoting new lifestyles or eliminating existing ones. These models reflect processes that were not mutually exclusive; rigorous analyses will continue to reveal their applicability to episodes in metazoan history. PMID:21813550
Berger, Allen N.; Hasan, Iftekhar; Korhonen, Iikka; Zhou, Mingming
Conventional wisdom in banking argues that diversification tends to reduce bank risk and improve performance, but the recent financial crisis suggests that aggressive diversification strategies may have resulted in increased risk taking and poor performance. This paper addresses this important question by evaluating the empirical relationship between diversification strategies and the risk-return tradeoff in banking. Our data set covers Russian banks during the 1999-2006 period and finds some...
Corporate diversification has long been a focused and deeply developed field, defined as the process of a company expand its business into different areas. There are mainly three different types of corporate diversification: product diversification (related or unrelated) and geographic market diversification (home market or international market). Our research is concentrated on the first form of diversification. In addition, the relationship between corporate diversification and firm valu...
Full Text Available Available proxy records witnessing palaeoclimate of the tropical Andes are comparably scarce. Major implications of palaeoclimate development in the humid and arid parts of the Andes are briefly summarized. The long-term behaviour of ENSO has general significance for the climatic history of the Andes due to its impact on regional circulation patterns and precipitation regimes, therefore ENSO history derived from non-Andean palaeo-records is highlighted. Methodological constraints of the chronological precision and the palaeoclimatic interpretation of records derived from different natural archives, such as glacier sediments and ice cores, lake sediments and palaeo-wetlands, pollen profiles and tree rings are addressed and complementary results concerning former climatic conditions are discussed in terms of possible implications of former atmospheric circulation patterns and main climatic forcing factors. During the last years, increasing tree-ring information is getting available from the tropical Andes, providing high-resolution climate-sensitive records covering the past centuries for the study of climate variability.
Zhong Funing; Zhu Jing
Feeding a growing population exceeding 1 billion is a big challenge to the Chinese government and has partly led to the self-sufficient policy in grain production and supply for decades. However, the efforts to push grain production everywhere have resulted in not only deterioration of the environment but also stagnation or even reduction in farmers'income as production costs continue to increase.This situation might be worsening after China's accession to the WTO that provides market access for bulk commodity imports. A sustainable development in Chinese agriculture depends on diversification, or structural adjustment, that allows Chinese farmers to fully utilize their comparative advantage in production of labor-intensive goods.Past experience has shown that diversification has contributed more than a half of the growth in Chinese agriculture during the reform period and reduced stresses on the environment at the same time. It is likely to contribute even more to Chinese agriculture in the future and in a sustainable manner.
Christoffersen, Peter; Errunza, Vihang; Jacobs, Kris;
Forecasting the evolution of security co-movements is critical for asset pricing and portfolio allocation. Hence, we investigate patterns and trends in correlations over time using weekly returns for developed markets (DMs) and emerging markets (EMs) over the period 1973–2012. We show that it is ......Forecasting the evolution of security co-movements is critical for asset pricing and portfolio allocation. Hence, we investigate patterns and trends in correlations over time using weekly returns for developed markets (DMs) and emerging markets (EMs) over the period 1973–2012. We show...... that it is possible to model co-movements for many countries simultaneously using BEKK, DCC, and DECO models. Empirically, we find that correlations have trended upward significantly for both DMs and EMs. Based on a time-varying measure of diversification benefits, we find that it is not possible to circumvent...... the increasing correlations in a long-only portfolio by adjusting the portfolio weights over time. However, we do find some evidence that adding EMs to a DM-only portfolio increases diversification benefits....
Christoffersen, Peter; Errunza, Vihang R.; Jacobs, Kris;
Forecasting the evolution of security co-movements is critical for asset pricing and portfolio allocation. Hence, we investigate patterns and trends in correlations over time using weekly returns for developed markets (DMs) and emerging markets (EMs) during the period 1973-2012. We show that it i......Forecasting the evolution of security co-movements is critical for asset pricing and portfolio allocation. Hence, we investigate patterns and trends in correlations over time using weekly returns for developed markets (DMs) and emerging markets (EMs) during the period 1973-2012. We show...... that it is possible to model co-movements for many countries simultaneously using BEKK, DCC, and DECO models. Empirically, we find that correlations have significantly trended upward for both DMs and EMs. Based on a time-varying measure of diversification benefit, we find that it is not possible in a long......-only portfolio to circumvent the increasing correlations by adjusting the portfolio weights over time. However, we do find some evidence that adding EMs to a DM-only portfolio increases diversification benefits....
Full Text Available The goal of this paper is to analyze the international diversification of risk through portfolio diversification based on investments abroad, particularly by investing in currencies of emerging countries. The starting point of the analysis is the work of Harry Markowitz, Portfolio selection, a reference work for the global financial environment in which the author states that a portfolio is efficient if it provides the highest possible expected return for a given level of risk and the lowest possible level of risk for any expected rate of earnings. The information used for this study comes from numerous sources and of great importance to international financial markets. The results based on the used data and information provide a comprehensive scan of how Federal Reserve proposed a clustered index of currencies, the current trend of exchange, the emerging BRIC countries scenario for 2050 and sources of the volatile emerging markets. Thus, following the completion of this work, we consider it necessary to pay attention to the course of emerging markets whose economic development and openness plays a significant role in their penetration of international investors’ investment plan.
Sadownik, Jan W.; Mattia, Elio; Nowak, Piotr; Otto, Sijbren
How new species emerge in nature is still incompletely understood and difficult to study directly. Self-replicating molecules provide a simple model that allows us to capture the fundamental processes that occur in species formation. We have been able to monitor in real time and at a molecular level the diversification of self-replicating molecules into two distinct sets that compete for two different building blocks (‘food’) and so capture an important aspect of the process by which species may arise. The results show that the second replicator set is a descendant of the first and that both sets are kinetic products that oppose the thermodynamic preference of the system. The sets occupy related but complementary food niches. As diversification into sets takes place on the timescale of weeks and can be investigated at the molecular level, this work opens up new opportunities for experimentally investigating the process through which species arise both in real time and with enhanced detail.
Takwate, Kwaji Tizhe
This paper examines the concept of management of diversification at tertiary education level in view of the growth of national secondary education system which vested high scramble for tertiary education was made in relation to question of access and expansion. This paper examines management of diversification at tertiary education level as a…
Teixeira, Pedro; Koryakina, Tatyana
In recent years, much has been written about the challenging financial context faced by many European higher education institutions, and the pressures towards funding diversification. However, the evidence available indicates that funding diversification has seldom lived up to the rhetorical expectations of marketization and privatization that…
Gerowitt, B.; Melander, B.; Krawczyk, R.;
results. Neither are crop diversification methods restricted to Organic Farming, nor can IWM (Integrated Weed Management) be successfully implemented without respecting the role of weeds in agro-ecosystems. The project “PRODIVA - Crop diversification and weeds“ is supported within the ERA-net CORE Organic...
Broll, Udo; Roldán-Ponce, Antonio; Wahl, Jack E.
In order to evaluate the allocational effectiveness of regional policy when harmonizing regional economic conditions firms? preferences play a pivot role. If harmonization hinders risk diversification of the firm, then instead of regional diversification of capital agglomeration of capital occurs. Hence, regional policy will not achieve its objective to equal the spatial allocation of capital.
Schmitz, M.; Orihuela, N. D.; Klarica, S.; Gil, E.; Levander, A.; Audemard, F. A.; Mazuera, F.; Avila, J.
Merida Andes (MA) is one of the most important orogenic belt in Venezuela and represents the northern culmination of South America Andes. During the last 60 years, several models have been proposed to explain the shallow and deep structure, using different geological, geophysical, seismological, geochemical and petrologic concepts; nevertheless, most of them have applied local observation windows, and do not represent the major structure of MA. Therefore, a multidisciplinary research group, coordinated by FUNVISIS, in close cooperation with UCV, ULA and PDVSA, is proposed in order to get the outlined goals in the project entitled GIAME ("Geociencia Integral de los Andes de MErida") was established, which aims to generate a lithospheric scale model and the development of a temporal dynamic model for the MA. As a base for lithospheric investigations of the Merida Andes, we are proposing three wide angle seismic profiles across the orogen on three representative sites, in order to determine the inner structure and its relation with the orogen's gravimetric root. To the date, there are no seismic studies at lithospheric scale which cross MA. The wide angle seismic will be complemented with the re-processing and re-interpretation of existing reflection seismic data, which will allow to establish a relationship between MA and its associated flexural basins (Maracaibo and Barinas-Apure basins). Depending on the results of the VENCORP Project (VENezuelan COntinental Reflection Profiling), which might show some reliable results about crustal features and Moho reflectors along three long seismic profiles at Caribbean Moutain system, a reflection seismic profile across the central portion of MA is proposed. Additional tasks, consisting in MA quaternary deformation studies, using research methods like neotectonics and paleoseismology, georadar, numerical modeling, cinematic GPS, SAR interferometry, thermocronology, detailed studies on regional geology, flexural modeling
Understanding the relationship between taxonomic and morphological changes is important in identifying the reasons for accelerated morphological diversification early in the history of animal phyla. Here, a simple general model describing the joint dynamics of taxonomic diversity and morphological disparity is presented and applied to the data on the diversification of blastozoans. I show that the observed patterns of deceleration in clade diversification can be explicable in terms of the geometric structure of the morphospace and the effects of extinction and speciation on morphological disparity without invoking major declines in the size of morphological transitions or taxonomic turnover rates. The model allows testing of hypotheses about patterns of diversification and estimation of rates of morphological evolution. In the case of blastozoans, I find no evidence that major changes in evolutionary rates and mechanisms are responsible for the deceleration of morphological diversification seen during the per...
Jousset, Alexandre; Eisenhauer, Nico; Merker, Monika; Mouquet, Nicolas; Scheu, Stefan
There is a growing awareness that biodiversity not only drives ecosystem services but also affects evolutionary dynamics. However, different theories predict contrasting outcomes on when do evolutionary processes occur within a context of competition. We tested whether functional diversity can explain diversification patterns. We tracked the survival and diversification of a focal bacterial species (Pseudomonas fluorescens) growing in bacterial communities of variable diversity and composition. We found that high functional diversity reduced the fitness of the focal species and, at the same time, fostered its diversification. This pattern was linked to resource competition: High diversity increased competition on a portion of the resources while leaving most underexploited. The evolved phenotypes of the focal species showed a better use of underexploited resources, albeit at a cost of lower overall growth rates. As a result, diversification alleviated the impact of competition on the fitness of the focal species. We conclude that biodiversity can stimulate evolutionary diversification, provided that sufficient alternative niches are available. PMID:27386573
Weeks, Brian C; Claramunt, Santiago
Different models of speciation predict contrasting patterns in the relationship between the dispersal ability of lineages and their diversification rates. This relationship is expected to be negative in isolation-limited models and positive in founder-event models. In addition, the combination of negative and positive effects of dispersal on speciation can result in higher diversification rates at intermediate levels of dispersal ability. Using molecular phylogenies to estimate diversification rates, and wing morphology to estimate dispersal ability, we analysed the influence of dispersal on diversification in the avifauna of Australasian archipelagoes. Contrary to expectations given the fragmented nature of island systems, the relationship between dispersal ability and diversification rate was monotonically negative. While multiple mechanisms could generate this pattern, they all share a phase of range expansion that is decoupled from speciation. PMID:25100701
Álvarez-Varas, R; González-Acuña, D; Vianna, J A
The Neotropical ecoregion has been an important place of avian diversification where dispersal and allopatric events coupled with periods of active orogeny and climate change (Late Pliocene-Pleistocene) have shaped the biogeography of the region. In the Neotropics, avian population structure has been sculpted not only by geographical barriers, but also by non-allopatric factors such as natural selection and local adaptation. We analyzed the genetic variation of six co-distributed Phrygilus species from the Central Andes, based on mitochondrial and nuclear markers in conjunction with morphological differentiation. We examined if Phrygilus species share patterns of population structure and historical demography, and reviewed the intraspecific taxonomy in part of their geographic range. Our results showed different phylogeographic patterns between species, even among those belonging to the same phylogenetic clade. P. alaudinus, P. atriceps, and P. unicolor showed genetic differentiation mediated by allopatric mechanisms in response to specific geographic barriers; P. gayi showed sympatric lineages in northern Chile, while P. plebejus and P. fruticeti showed a single genetic group. We found no relationship between geographic range size and genetic structure. Additionally, a signature of expansion was found in three species related to the expansion of paleolakes in the Altiplano region and the drying phase of the Atacama Desert. Morphological analysis showed congruence with molecular data and intraspecific taxonomy in most species. While we detected genetic and phenotypic patterns that could be related to natural selection and local adaptation, our results indicate that allopatric events acted as a major factor in the population differentiation of Phrygilus species. PMID:25987531
Full Text Available Abstract Background Plant-feeding insects make up a large part of earth's total biodiversity. While it has been shown that herbivory has repeatedly led to increased diversification rates in insects, there has been no compelling explanation for how plant-feeding has promoted speciation rates. There is a growing awareness that ecological factors can lead to rapid diversification and, as one of the most prominent features of most insect-plant interactions, specialization onto a diverse resource has often been assumed to be the main process behind this diversification. However, specialization is mainly a pruning process, and is not able to actually generate diversity by itself. Here we investigate the role of host colonizations in generating insect diversity, by testing if insect speciation rate is correlated with resource diversity. Results By applying a variant of independent contrast analysis, specially tailored for use on questions of species richness (MacroCAIC, we show that species richness is strongly correlated with diversity of host use in the butterfly family Nymphalidae. Furthermore, by comparing the results from reciprocal sister group selection, where sister groups were selected either on the basis of diversity of host use or species richness, we find that it is likely that diversity of host use is driving species richness, rather than vice versa. Conclusion We conclude that resource diversity is correlated with species richness in the Nymphalidae and suggest a scenario based on recurring oscillations between host expansions – the incorporation of new plants into the repertoire – and specialization, as an important driving force behind the diversification of plant-feeding insects.
For resource-rich countries, diversification is claimed to represent a strategy for reducing resource curse problems. This, however, depends on whether diversification has a positive effect on the country's institutions. While there is a lot of evidence that exports of oil have a negative impact on institutions, we know much less about the extent to which diversification leads to better institutions. This article applies recent political economy theory to the phenomenon of diversification. Theoretical arguments suggest that it is the pattern of industrial activity rather than diversification per se, which affects institutions like democracy. In other words, not all forms of diversification lead to better institutions. Furthermore, where diversification has a positive impact on institutions, diversification may be difficult to attain when it threatens the power base of the ruling elite. A possible implication of these arguments is that policies for diversification should focus on international regulation affecting elite incentives, rather than domestic industrial policy. - Highlights: ► Diversification can be a strategy for reducing resource curse problems in oil-rich countries. ► But this requires that diversification has a positive effect on the institutions of a country. ► It is the pattern of industrial activity rather than diversification per se, which affects institutions like democracy. ► Diversification may be difficult to attain when it threatens the power basis of the ruling elite. ► Policies for diversification should focus on international ruling affect elite incentives, rather than home industrial policy.
The EU Directive 2004/8/EC, concerning the promotion of cogeneration, established principles on how EU member states can support combined heat and power generation (CHP). Up to now, the implementation of these principles into national law has not been uniform, and has led to the adoption of different promotion schemes for CHP across the EU member states. In this paper, we first give an overview of the promotion schemes for CHP in various European countries. In a next step, we take two standard CHP technologies, combined-cycle gas turbines (CCGT-CHP) and engine-CHP, and apply exemplarily four selected support mechanisms used in the four largest European energy markets: feed-in tariffs in Germany; energy efficiency certificates in Italy; benefits through tax reduction in the UK; and purchase obligations for power from CHP generation in France. For contracting companies, it could be of interest to diversify their investment in new CHP facilities regionally over several countries in order to reduce country and regulatory risk. By applying the Mean-Variance Portfolio (MVP) theory, we derive characteristic return-risk profiles of the selected CHP technologies in different countries. The results show that the returns on CHP investments differ significantly depending on the country, the support scheme, and the selected technology studied. While a regional diversification of investments in CCGT-CHP does not contribute to reducing portfolio risks, a diversification of investments in engine-CHP can decrease the risk exposure. - Research highlights: →Preconditions for CHP investments differ significantly between the EU member states. →Regional diversification of CHP investments can reduce the total portfolio risk. →Risk reduction depends on the chosen CHP technology.
Ratcliff, William C; Hawthorne, Peter; Libby, Eric
Life is full of risk. To deal with this uncertainty, many organisms have evolved bet-hedging strategies that spread risk through phenotypic diversification. These rates of diversification can vary by orders of magnitude in different species. Here we examine how key characteristics of risk and organismal ecology affect the fitness consequences of variation in diversification rate. We find that rapid diversification is strongly favored when the risk faced has a wide spatial extent, with a single disaster affecting a large fraction of the population. This advantage is especially great in small populations subject to frequent disaster. In contrast, when risk is correlated through time, slow diversification is favored because it allows adaptive tracking of disasters that tend to occur in series. Naturally evolved diversification mechanisms in diverse organisms facing a broad array of environmental risks largely support these results. The theory presented in this article provides a testable ecological hypothesis to explain the prevalence of slow stochastic switching among microbes and rapid, within-clutch diversification strategies among plants and animals. PMID:25410817
Leavitt Steven D
Full Text Available Abstract Background Factors promoting diversification in lichen symbioses remain largely unexplored. While Pleistocene events have been important for driving diversification and affecting distributions in many groups, recent estimates suggest that major radiations within some genera in the largest clade of macrolichens (Parmeliaceae, Ascomycota vastly predate the Pleistocene. To better understand the temporal placement and sequence of diversification events in lichens, we estimated divergence times in a common lichen-forming fungal genus, Melanohalea, in the Northern Hemisphere. Divergence times were estimated using both concatenated gene tree and coalescent-based multilocus species tree approaches to assess the temporal context of major radiation events within Melanohalea. In order to complement our understanding of processes impacting genetic differentiation, we also evaluated the effects of Pleistocene glacial cycles on population demographics of distinct Melanohalea lineages, differing in reproductive strategies. Results We found that divergence estimates, from both concatenated gene tree and coalescent-based multilocus species tree approaches, suggest that diversification within Melanohalea occurred predominantly during the Miocene and Pliocene, although estimated of divergence times differed by up to 8.3 million years between the two methods. These results indicate that, in some cases, taxonomically diagnostic characters may be maintained among divergent lineages for millions of years. In other cases, similar phenotypic characters among non-sister taxa, including reproductive strategies, suggest the potential for convergent evolution due to similar selective pressures among distinct lineages. Our analyses provide evidence of population expansions predating the last glacial maximum in the sampled lineages. These results suggest that Pleistocene glaciations were not inherently unfavorable or restrictive for some Melanohalea species, albeit
The EU Directive 2004/8/EC, concerning the promotion of cogeneration, established principles on how EU member states can support combined heat and power generation (CHP). Up to now, the implementation of these principles into national law has not been uniform, and has led to the adoption of different promotion schemes for CHP across the EU member states. In this paper, we first give an overview of the promotion schemes for CHP in various European countries. In a next step, we take two standard CHP technologies, combined-cycle gas turbines (CCGT-CHP) and engine-CHP, and apply exemplarily four selected support mechanisms used in the four largest European energy markets: feed-in tariffs in Germany; energy efficiency certificates in Italy; benefits through tax reduction in the UK; and purchase obligations for power from CHP generation in France. For contracting companies, it could be of interest to diversify their investment in new CHP facilities regionally over several countries in order to reduce country and regulatory risk. By applying the Mean-Variance Portfolio (MVP) theory, we derive characteristic return-risk profiles of the selected CHP technologies in different countries. The results show that the returns on CHP investments differ significantly depending on the country, the support scheme, and the selected technology studied. While a regional diversification of investments in CCGT-CHP does not contribute to reducing portfolio risks, a diversification of investments in engine-CHP can decrease the risk exposure. (author)
Barros, Agustina; Monz, Christopher; Pickering, Catherine
Despite the popularity of tourism and recreation in the Andes in South America and the regions conservation value, there is limited research on the ecological impacts of these types of anthropogenic use. Using a systematic quantitative literature review method, we found 47 recreation ecology studies from the Andes, 25 of which used an experimental design. Most of these were from the Southern Andes in Argentina (13 studies) or Chile (eight studies) with only four studies from the Northern Ande...
Francou, Bernard; Coudrain, Anne
For more than a century glaciers around the world have been melting as air temperatures rise due to a combination of natural processes and human activity. The disappearance of these glaciers can have wide-ranging effects, such as the creation of new natural hazards or changes in stream flow that could threaten water suppliesSome of the most dramatic melting has occurred in the Andes mountain range in South America. To highlight the climatic and glacial change in the Andes and to encourage the scientific community to strengthen the glacier observation network that stretches from Colombia to the Patagonian ice fields, the Instituto Nacional de Recursos Naturales (INRENA), Perú, and the Institute of Research and Development (IRD), France, recently organized the second Symposium on Mass Balance of Andean Glaciers in Huaráz,Perú.
Jorge E. Clavero R.
Full Text Available Parinacota is an active composite stratovolcano located in the Central Andes of Northern Chile (18°S. During its earlier stage (Parinacota 1 unit, Late Pleistocene, 300-70? ka rhyolitic to andesitic magmas were erupted, forming a voluminous lava-dome complex with its associated pyroclastic fans (mainly block-and-ash flow deposits, essentially deposited towards the Upper Lauca basin (West. It later evolved to a steep-sided composite stratocone (Parinacota 2 unit, Late Pleistocene-Holocene, 70?-8 ka, mainly formed by andesitic lava flows and scoria tephra fallout deposits.Around 8 ka ago the ancestral Parinacota volcano, built during Parinacota 1 and 2, partially collapsed towards the west, in a single and catastrophic event generating the outstanding Parinacota Debris Avalanche deposit.Soon after the collapse a new stratocone started to build with the emission of andesitic lava flows and pyroclastic flows, and their associated fallout deposits (Parinacota 3 unit, Holocene, La evolución del volcán Parinacota, Andes Centrales, norte de Chile. El volcán Parinacota es un estratovolcán activo ubicado en los Andes Centrales del norte de Chile (18°S. Durante su primera etapa de evolución (Unidad Parinacota 1, Pleistoceno Superior, 300-70? ka emitió magmas de composición riolítica a andesítica, formando un voluminoso complejo de lavas-domo con abanicos piroclásticos asociados (esencialmente depósitos de bloques y ceniza, distribuidos principalmente hacia la parte superior de la cuenca del río Lauca (oeste. Posteriormente, evolucionó a un estratocono compuesto, de fuertes pendientes (Unidad Parinacota 2, Pleistoceno-Holoceno, 70?-8 ka, formado principalmente por lavas y depósitos de caída andesíticos. Aproximadamente hace 8 ka el volcán Parinacota ancestral, construido durante las unidades Parinacota 1 y 2, colapsó parcialmente hacia el oeste, en un evento único y catastrófico generando el Depósito de Avalancha de Parinacota. Poco
D. H. Urrego
Full Text Available We compare eight pollen records reflecting climatic and environmental change from the tropical Andes. Our analysis focuses on the last 50 ka, with particular emphasis on the Pleistocene to Holocene transition. We explore ecological grouping and downcore ordination results as two approaches for extracting environmental variability from pollen records. We also use the records of aquatic and shoreline vegetation as markers for lake level fluctuations, and precipitation change. Our analysis focuses on the signature of millennial-scale variability in the tropical Andes, in particular, Heinrich stadials and Greenland interstadials. We identify rapid responses of the tropical vegetation to this climate variability, and relate differences between sites to moisture sources and site sensitivity.
Full Text Available The study of some andesites from King George Island (South Shetland Islands, Anctartica has pointed out the existence of a hydrothermal alteration process going rise to a zeolitic secondary minerals of low-temperature assemblages. Two paragenesis have been identified (Smectite-Bytownite-Mordenite, Smectite-Albite-Laumontite which reflecting different conditions durign the hydrothermal alteration of these andesitic rocksEl estudio de rocas andesíticas de la Isla King George (Archipiélago de las Shetland del Sur, Antártida pone de manifiesto la existencia de procesos de alteración hidrotermal con la formación de minerales zeolíticos secundarios pertenecientes a asociaciones de baja temperatura. Se han identificado dos paragénesis (Esmectitas-Bytownita-Mordenita, Esmectitas-AlbitaLaumontita que reflejan distintas condiciones durante la alteración hidrotermal de dichas rocas andesíticas.
Xiaohui Yuan; S. V. Sobolev; Rainer Kind
P-to-S converted waves at the continental Moho together with waves multiply reflected between the Earth's surface and the Moho have been used to estimate the Moho depth and average crustal Vp/Vs variations in the central Andes. Our analysis confirms and significantly complements the Moho depth estimates previously obtained from wide-angle seismic studies and receiver functions. The resulting crustal thickness varies from about 35 km in the forearc region to more than 70 km beneath the plateau...
Stansell, N. D.; Abbott, M. B.; Polissar, P. J.; Bezada, M.
The Younger Dryas (YD) was an abrupt climate change event that has been well recorded in marine archives, but is still uncertain in terrestrial records from the tropics. For instance, the YD is recorded in the Cariaco Basin as an event of increased upwelling intensity and decreased terrigenous input; however continental records of a coincident climate change event across the region are inconclusive. Moreover, pollen data from the Colombian Andes suggest that there was a local cold stadial that coincides with the YD, but paleoenvironmental records from the Venezuelan Andes during the same time interval are not clear. Here we present a high-resolution late- glacial sequence from the Pico Espejo region of Venezuela. Our record is based on radiocarbon dated lake sediments that were analyzed using magnetic susceptibility, scanning X-ray fluorescence and loss-on-ignition methods. The sequence contains a period of increased glacial-sedimentary flux between ca. 13,000 and 12,000 cal yr BP, which coincides with the timing of the YD. Glacio-lacustrine sediments also increased between ca. 11,000 to 10,000 cal yr BP. Combined, these data suggest the northern tropical Andes experienced cooling events during the YD, and from ca. 11,000 to 10,000 cal yr BP.
ANA I. SINDE-CANTORNA
Full Text Available Determinants and performance of diversification strategy have been approached frequently in the literature. Nevertheless, there are only a few studies that analyze the diversification in sectors where the impulse to diversify is not strictly economic, but political or social. Diversification of agricultural and farm activity towards the tourism in Galicia is a clear example. The aim of this paper is to determine the factors that motivate holders of farmers to initiating a strategy of diversification towards the tourism, as well as the dimensions of the managerial relevant results for the owners who diversify. Results of the analysis on a representative sample of rural tourism establishments of Galicia indicate the multidimensional and heterogeneity of the analyzed constructs. Social motivations acquire prominence, in the same way that subjective measures of performance related to the improvement of the environment and customer orientation.
Endo, K.; Karim, M. R.; Taniguchi, H.; Krejčí, Alena; Kinameri, E.; Siebert, M.; Ito, K.; Bray, S. J.; Moore, A. W.
Roč. 15, č. 2 (2012), s. 224-233. ISSN 1097-6256 Institutional research plan: CEZ:AV0Z50070508 Keywords : neuron diversification Subject RIV: EB - Genetics ; Molecular Biology Impact factor: 15.251, year: 2012
Muratov, Oleg; Boato, Giulia; De Natale, Franesco G. B.
Diversification of retrieval results allows for better and faster search. Recently there has been proposed different methods for diversification of image retrieval results mainly utilizing text information and techniques imported from natural language processing domain. However, images contain visual information that is impossible to describe in text and the use of visual features is inevitable. Visual saliency is information about the main object of an image implicitly included by humans while creating visual content. For this reason it is naturally to exploit this information for the task of diversification of the content. In this work we study whether visual saliency can be used for the task of diversification and propose a method for re-ranking image retrieval results using saliency. The evaluation has shown that the use of saliency information results in higher diversity of retrieval results.
Full Text Available This paper investigates the threads between international diversification and firm performance, resourceallocation to R&D and capital expenditure. The context of this study is a resource-based view and transactioncosts theory. Firms that are going international, benefit from the resources available to them outside their homecountry as well as from the utilization of their core competencies in other countries. Regression models withoutinteractive terms indicate that resource allocation significantly impacts firm performance. Capital expenditure ispositively associated with return on assets, while research and development expenditure undermines the firm’sperformance. Analyses suggest that there is no thorough relation between international diversification andreturns, regardless of using asset or sales diversification variables. The estimates of diversification variable arenegative and insignificant in most models.
W. L. Mills, Jr.; Hoover, William L
This paper evaluates the investment performance of Swedish timberland during the last three decades using the Capital Asset Pricing Model (CAPM). Results suggests that Swedish timberland investments show diversification potential and can serve as a hedge ...
In the context of the economic development, income diversification is sometimes defined as the process by which households switch from growing low-value staple food crops to growing a mix of food crops and higher-value commercial crops (crop diversification) and from farming to non-farm activities (non-farm diversification). The literature on income diversification has measured trends, identified determinants, and speculated on the constraints to diversification, but there has been relatively...
Castaldi, Carolina; Milakovic, Mishael; Secchi, Angelo
We present empirical evidence on diversification patterns in Italian manufacturing firms and detect a robust relationship between firm size and diversification levels, with an elasticity of diversification that does not depend on firm size and is well below unity. Diversification does not lead to decreased corporate risk when measured in terms of the growth performance of Italian manufacturing firms. The findings support the Penrosian theory of diversification in the process of firm growth. I...
This paper examines diversification as a source of value creation and destruction in private equity. The literature has focused on the `diversification discount' in corporations. It has not analyzed diversification in PE-funds, where diversification might increase value by ameliorating managerial risk aversion and by facilitating knowledge sharing. Thus, I examine a sample of 1505 PE-funds to show that industry and geographic diversification increases PE-fund returns on average, this is likel...
This paper examines diversification as a source of value creation and destruction in private equity. The literature has focused on the `diversification discount' in corporations. It has not analyzed diversification in PE-funds, where diversification might increase value by ameliorating managerial risk aversion and by facilitating knowledge sharing. Thus, I examine a sample of 1505 PE-funds to show that industry and geographic diversification increases PE-fund returns on average, this is likel...
Pawlowitsch, Christina; Mertikopoulos, Panayotis; Ritt, Nikolaus
Abstract The diversification of languages is one of the most interesting facts about language that seek explanation from an evolutionary point of view. Conceptually the question is related to explaining mechanisms of speciation. An argument that prominently figures in evolutionary accounts of language diversification is that it serves the formation of group markers which help to enhance in-group cooperation. In this paper we use the theory of evolutionary games to show that languag...
Ebel, ER; Dacosta, JM; Sorenson, MD; Hill, RI; Briscoe, AD; Willmott, KR; Mullen, SP
© 2015 John Wiley & Sons Ltd. Rapid diversification is often associated with morphological or ecological adaptations that allow organisms to radiate into novel niches. Neotropical Adelpha butterflies, which comprise over 200 species and subspecies, are characterized by extraordinary breadth in host plant use and wing colour patterns compared to their closest relatives. To examine the relationship between phenotypic and species diversification, we reconstructed the phylogenetic history of Adel...
Using the data of stock, commodity and bond indexes from 2002 to November 2010, this research was carried out by employing Bootstrapping Simulation technique to find an optimal portfolio (portfolio optimization) for retirement, and the effect of diversification based on increased length of investment period (time diversification) with respect to the lengths of retirement investment period and the amounts required for spending after retirement in various occasions. The study analyzed for an op...
Roč. 3, č. 2713 (2013), s. 1-5. ISSN 2045-2322 R&D Projects: GA ČR GA402/09/0965 Institutional support: RVO:67985556 Keywords : Google Trends * diversification * portfolio Subject RIV: AH - Economics Impact factor: 5.078, year: 2013 http://library.utia.cas.cz/separaty/2013/E/kristoufek-can google trends search queries contribute to risk diversification.pdf
Lee, Stephen L.
The number of properties to hold to achieve a well-diversified real estate property portfolio presents a puzzle, as the estimated number is considerably higher than that seen in actual portfolios. However, Statman (1987) argues that investors should only increase the number of holdings as long as the marginal benefits of diversification exceed their costs. Using this idea we find that the marginal benefits of diversification in real estate portfolios are so small that investors are probably...
This paper shows that the presence of conditional staging in R&D (Research & Development) has a critical impact on portfolio risk, and changes diversification arguments when a portfolio is constructed. When R&D projects exhibit option-like characteristics, correlation between projects plays a more complicated role than traditional portfolio diversification would suggest. Real option theory argues that research projects with conditional phases have option-like risk and return properties, and a...
Bekkum, Sjoerd; Pennings, Enrico; Smit, Han
textabstractThis paper shows that the presence of conditional staging in R&D (Research & Development) has a critical impact on portfolio risk, and changes diversification arguments when a portfolio is constructed. When R&D projects exhibit option-like characteristics, correlation between projects plays a more complicated role than traditional portfolio diversification would suggest. Real option theory argues that research projects with conditional phases have option-like risk and return prope...
Hakim, Idwan; Masih, Mansur
The focus of this paper is to investigate the potential for portfolio diversification strategies based on investing across international markets or economic sectors, using Malaysia as a case study. Analysing the comovement and correlation between returns and volatilities of the different markets or assets, therefore, is the key to gauge the potential benefits from diversification. Two important features of the comovement are their dynamic fluctuations across time period and time horizon or sc...
The purpose of this thesis is to determine how large is a role in the diversification of portfolio optimization in investing in stocks and how much it is possible to avoid large, sudden drops in the value of the portfolio during the period of the prevailing global economic crisis of 2008. The theoretical part, created on the basis of the study of literature, describes the basic concepts related to the topic. More details are discussed as stocks, diversification and portfolio theory. In th...
In this study, I examine the relationship between board composition and diversification strategy in Japanese electronic corporations. Many Japanese electronics companies have performed sluggishly and instituted major reforms in terms of governance and management. The strategic choice between Focus and Divarication is the foremost issue for Japanese firms aiming to improve their performance. A corporation’s diversification strategy is influenced by the board structure and configuration of corp...
W. Keeris; P.W. Koppels
The common investment theory distinguishes market risks which can not be influenced and the object specific risks that can be influenced. It is acknowledged, that by increasing the number of investment objects, diversification, the risk level of the investment portfolio can be substantially decreased. Generally, diversification is also considered a valid strategy for property investments to decrease the risk level of the portfolio, but the adjustment speed and the effectiveness of diversifica...
Girmens, Guillaume; Guillard, Michel
In this paper, we study the effect of share issue privatization (SIP) on private investment and financial market under incomplete risk diversification. Risk neutrality and imperfect intertemporal substitutability make investment decreasing in privatization (crowding-out effect). Vice-versa with risk aversion and perfect intertemporal substitutability (diversification effect). Finally, with risk aversion and imperfect intertemporal substitutability, crowding-out effects are more than compensat...
Chavas, Jean-Paul; Barham, Bradford
This paper investigates the microeconomics of diversification, based on a two-period model of an owner-managed firm facing uncertainty. The analysis utilizes a general state-contingent representation of uncertainty and learning. Economies of diversification are defined based on a certainty equivalent, which has three components: expected profit, the risk premium (measuring the cost of risk aversion), and the value of information associated with learning. The influence of scale effects, "trans...
Meslier, Céline; Donald P. Morgan; Samolyk, Katherine; Tarazi, Amine
We estimate the benefits of intrastate and interstate geographic diversification for bank risk and return, and assess whether such benefits could be shaped by differences in bank size and disparities in economic conditions within states or across U.S. states. For small banks, only intrastate diversification is beneficial in terms of risk-adjusted returns but for very large institutions both intrastate and intrastate expansions are rewarding. However, in all cases the relationship is hump-shap...
Prezzi, Claudia B.; Götze, Hans-Jürgen; Schmidt, Sabine
We developed a 3D density model of the continental crust, the subducted plate and the upper mantle of the Central Andes between 20-29°S and 74-61°W through the forward modelling of Bouguer anomaly. The goal of this contribution is to gain insight on the lithospheric structure integrating the available information (geophysical, geologic, petrologic, and geochemical) in a single model. The geometry of our model is defined and constrained by hypocentre location, reflection and refraction on and offshore seismic lines, travel time and attenuation tomography, receiver function analysis, magnetotelluric studies, thermal models and balanced structural cross-sections. The densities allocated to the different bodies are calculated considering petrologic and geochemical data and pressure and temperature conditions. The model consists of 31 parallel E-W vertical planes, where the continental crust comprises distinct bodies, which represent the different morphotectonic units of the Central Andes. We include a partial melting zone at midcrustal depths under the Altiplano-Puna (low-velocity zone) and consider the presence of a rheologically strong block beneath the Salar de Atacama basin, according to recent seismic studies. Contour maps of the depth of the continental Moho, the thickness of the lower crust and the depth to the bottom of the lithosphere below South America are produced. The possible percentage of partial melt in the Central Andes low-velocity zone is estimated. The residual anomaly is calculated by subtracting from the Bouguer anomaly the gravimetric effect of the modelled subducted slab and of the modelled Moho. Isostatic anomalies are calculated from regional and local isostatic Mohos calculated with and without internal loads, derived from our gravity model, which are then compared to the modelled continental Moho. This study contributes to a more detailed knowledge of the lithospheric structure of this region of the Andes and provides an integrated 3D
Guarnizo, Carlos E; Werneck, Fernanda P; Giugliano, Lilian G; Santos, Marcella G; Fenker, Jéssica; Sousa, Lucas; D'Angiolella, Annelise B; Dos Santos, Adriana R; Strüssmann, Christine; Rodrigues, Miguel T; Dorado-Rodrigues, Tainá F; Gamble, Tony; Colli, Guarino R
The Cerrado is a wide Neotropical savanna with tremendously high endemic diversity. Yet, it is not clear what the prevalent processes leading to such diversification are. We used the Cerrado-endemic lizard Norops meridionalis to investigate the main abiotic factors that promoted genetic divergence, the timings of these divergence events, and how these relate to cryptic diversity in the group. We sequenced mitochondrial and nuclear genes from 21 sites of N. meridionalis to generate species tree, divergence time estimations, and estimate species limits. We also performed population-level analysis and estimated distribution models to test the roles of niche conservatism and divergence in the group diversification. We found that N. meridionalis is composed by at least five cryptic species. Divergence time estimations suggest that the deepest branches split back into the early-mid Miocene, when most of the geophysical activity of the Cerrado took place. The deep divergences found in N. meridionalis suggest that beta anoles invaded South America much earlier than previously thought. Recent published evidence supports this view, indicating that the Panama gap closed as early as 15 mya, allowing for an early invasion of Norops into South America. The spatial pattern of diversification within N. meridionalis follows a northwest-southeast direction, which is consistent across several species of vertebrates endemic to the Cerrado. Also, we found evidence for non-stationary isolation by distance, which occurs when genetic differentiation depends on space. Our preliminary data in two out of five lineages suggest that niche conservatism is an important mechanism that promoted geographic fragmentation in the group. PMID:26385121
The risk in agriculture sector is due to various factors like weather and market conditions, particularly the demand of the commodities. This uncertainty can result in variable returns (farm income) to the decisions that farmers make in a particular season. Diversification is a frequently used risk management strategy that involves participation in more than one activity. It has the added advantage of mitigating price risk as well as fluctuations in outputs. The main purpose of this paper was to determine the factors affecting crop diversification. For determining the effect of different factors on diversification a multiple regression model was used. The values of Entropy index computed for measuring horizontal diversification were taken as dependent variable and different factors affecting diversification were taken as independent variables. The results showed that the main factors affecting diversification were size of land holding, age of respondent, education level of respondent, farming experience of respondent, off farm income of respondent, distance of farm from main road, distance of farm from main market and farm machinery. (author)
Jones, Andrew W.; Post, David M.
Abstract Competitive diversification, that is, when increasing intraspecific competition promotes population niche expansion, is commonly invoked in evolutionary studies and currently plays a central role in how we conceptualize the process of adaptive diversification. Despite the frequency with which this idea is cited, the empirical evidence for the process is somewhat limited, and the findings of these studies have yet to be weighed objectively through synthesis. Here, we sought to fill th...
Lu, Weihong; Sun, Yeqing; Zheng, Qi; Guan, Shuanghong
To study protein fingerprint diversification of rice seeds induced by space environment we selected three series mutants induced in Chinese recoverable satellite in 1996 for 15 days including 1 Series 971 971ck the control sample in ground 971-5 and 971-4 samples after space derivation 2 Series 972 972ck the control sample in ground 972-4 and 972-1 samples after space derivation 3 Series 974 974ck the control sample in ground 974-5 and 974-8 samples after space derivation The proteins were extracted and separated to 4 groups Albumin Globulin Prolamine and Glutelin from the seeds of ground control group and inducted by space environment group Using RPLC method Reference peak was selected in every group and its relative retention time was 1 000 The relative retention time of other peaks was the ratio Calculate the contents due to the peak areas and draw a conclusion that some contents of protein were changed in the seeds of the mutant varieties There are character peaks among different varieties as the fingerprint Comparative analysis the fingerprint of Albumin Globulin and Prolamine can find the different in varieties identify The protein express abundance and easy be detected in the seeds So using RPLC method the Protein Fingerprint can identify breed handily and steadily Keywords rice seeds Space environment Protein Fingerprint
Full Text Available The degree of phenotypic divergence and reproductive isolation between taxon pairs can vary quantitatively, and often increases as evolutionary divergence proceeds through various stages, from polymorphism to population differentiation, ecotype and race formation, speciation, and post-speciational divergence. Although divergent natural selection promotes divergence, it does not always result in strong differentiation. For example, divergent selection can fail to complete speciation, and distinct species pairs sometimes collapse ('speciation in reverse'. Widely-discussed explanations for this variability concern genetic architecture, and the geographic arrangement of populations. A less-explored possibility is that the degree of phenotypic and reproductive divergence between taxon pairs is positively related to the number of ecological niche dimensions (i.e., traits subject to divergent selection. Some data supporting this idea stem from laboratory experimental evolution studies using Drosophila, but tests from nature are lacking. Here we report results from manipulative field experiments in natural populations of herbivorous Timema stick insects that are consistent with this 'niche dimensionality' hypothesis. In such insects, divergent selection between host plants might occur for cryptic colouration (camouflage to evade visual predation, physiology (to detoxify plant chemicals, or both of these niche dimensions. We show that divergent selection on the single niche dimension of cryptic colouration can result in ecotype formation and intermediate levels of phenotypic and reproductive divergence between populations feeding on different hosts. However, greater divergence between a species pair involved divergent selection on both niche dimensions. Although further replication of the trends reported here is required, the results suggest that dimensionality of selection may complement genetic and geographic explanations for the degree of
A comparison of the paleoecological results from the Merida Andes, in Venezuela, including different elevations and different mountain ranges is presented. The purpose of this paper is to organize and compare the data from seven stratigraphic sections from Merida Andes in order to identify changes in vegetation and climate in the last 13,000 years. (author)
The article shows the results of a proposal of alternative handling of the agriculture ecosystem tobacco-bean-maize, main agricultural activity of the Northeastern Andes of Colombia. This system is the base of the economic and alimentary security and the main factor of degradation of the natural resources of the region. The work looks for to develop the diversified rotations, as essential component of biological diversity, the reduced works as strategy of protection of the soil and the promotion of the agriculture ecology like new model of agricultural development. The results of the work show that the high volume of organic residuals coming from the rotation tobacco bean maize, become compost in the field and the reduction of the farm, they promote the stability of the productive components of the soils and their agricultural yields. The biggest levels of organic matter and of total porosity, generated by the biggest biological activity, they indicate that the technological alternatives of the proposal slow the effects of the degradation originated by the conventional agriculture. These alternatives can be included in the regional programs of agricultural production, like solution principle and as strategy for the sustainable development of the region
Fernández, Rosa; Novo, Marta; Marchán, Daniel F; Díaz Cosín, Darío J
Comparative phylogeography of widespread species that span the same geographic areas can elucidate the influence of historical events on current patterns of biodiversity, identify patterns of co-vicariance, and therefore aid the understanding of general evolutionary processes. Soil-dwelling animals present characteristics that make them suitable for testing the effect of the palaeogeographical events on their distribution and diversification, such as their low vagility and population structure. In this study, we shed light on the spatial lineage diversification and cladogenesis of two widely-distributed cosmopolitan and invasive earthworms (Aporrectodea rosea and A. trapezoides) in their putative ancestral area of origin, the Western Palearctic, and a few populations in North America. Molecular analyses were conducted on mitochondrial and nuclear markers from 220 (A. rosea) and 198 (A. trapezoides) individuals collected in 56 and 57 localities, respectively. We compared the lineage diversification pattern, genetic variability and cladogenesis in both species. Our findings showed that both species underwent a similar diversification from the Western Mediterranean plates to (i) Northern Europe and (ii) the Iberian Peninsula, establishing their two main lineages. Their diversification was in concordance with the main palaeogeographical events in the Iberian Peninsula and Western Mediterranean, followed by a later colonization of North America from individuals derived exclusively from the Eurosiberian lineage. Their diversification occurred at different times, with the diversification of A. rosea being potentially more ancient. Cladogenesis in both species seems to have been modelled only by the Mediterranean plate shifts, ignoring historical climatic oscillations such as the Messinian salinity crisis. Their high genetic variability, strong population structure, lack of gene flow and stepping-stone-like cladogenesis suggest the existence of different cryptic lineages
Barros, Agustina; Monz, Christopher; Pickering, Catherine
Despite the popularity of tourism and recreation in the Andes in South America and the regions conservation value, there is limited research on the ecological impacts of these types of anthropogenic use. Using a systematic quantitative literature review method, we found 47 recreation ecology studies from the Andes, 25 of which used an experimental design. Most of these were from the Southern Andes in Argentina (13 studies) or Chile (eight studies) with only four studies from the Northern Andes. These studies documented a range of impacts on vegetation, birds and mammals; including changes in plant species richness, composition and vegetation cover and the tolerance of wildlife of visitor use. There was little research on the impacts of visitors on soils and aquatic systems and for some ecoregions in the Andes. We identify research priorities across the region that will enhance management strategies to minimise visitor impacts in Andean ecosystems. PMID:25201299
Takaichi, Shinichi; Yokoyama, Akiko; Mochimaru, Mari; Uchida, Hiroko; Murakami, Akio
Carotenoid composition is very diverse in Rhodophyta. In this study, we investigated whether this variation is related to the phylogeny of this group. Rhodophyta consists of seven classes, and they can be divided into two groups on the basis of their morphology. The unicellular group (Cyanidiophyceae, Porphyridiophyceae, Rhodellophyceae, and Stylonematophyceae) contained only β-carotene and zeaxanthin, "ZEA-type carotenoids." In contrast, within the macrophytic group (Bangiophyceae, Compsopogonophyceae, and Florideophyceae), Compsopogonophyceae contained antheraxanthin in addition to ZEA-type carotenoids, "ANT-type carotenoids," whereas Bangiophyceae contained α-carotene and lutein along with ZEA-type carotenoids, "LUT-type carotenoids." Florideophyceae is divided into five subclasses. Ahnfeltiophycidae, Hildenbrandiophycidae, and Nemaliophycidae contained LUT-type carotenoids. In Corallinophycidae, Hapalidiales and Lithophylloideae in Corallinales contained LUT-type carotenoids, whereas Corallinoideae in Corallinales contained ANT-type carotenoids. In Rhodymeniophycidae, most orders contained LUT-type carotenoids; however, only Gracilariales contained ANT-type carotenoids. There is a clear relationship between carotenoid composition and phylogenetics in Rhodophyta. Furthermore, we searched open genome databases of several red algae for references to the synthetic enzymes of the carotenoid types detected in this study. β-Carotene and zeaxanthin might be synthesized from lycopene, as in land plants. Antheraxanthin might require zeaxanthin epoxydase, whereas α-carotene and lutein might require two additional enzymes, as in land plants. Furthermore, Glaucophyta contained ZEA-type carotenoids, and Cryptophyta contained β-carotene, α-carotene, and alloxanthin, whose acetylenic group might be synthesized from zeaxanthin by an unknown enzyme. Therefore, we conclude that the presence or absence of the four enzymes is related to diversification of carotenoid
Full Text Available Classification of regional territories and countries related to endangered species has been investigated by data mining techniques and graphical modeling using an extensive data set of species. We developed the graphical models (hereafter referred to as ‘ESDI’ using cosine, jaccard similarity, K Mean clustering and cliques in graph modeling for a large number of countries. Environmental variables associated with species records were identified in context of their diversification to integration with our proposed prototype. We have shown that the problem of finding the most coherent clusters is reducible to finding maximum clique. Key findings include the urge to ameliorate communication about the loss and protection of endangered species and their concerned projects. The proposed framework is presented to serves a portal to knowledge discovery. We have concluded that the proposed framework model and its associated data mining similarity measures can be useful for investigating various scientific and management oriented questions related to protection of endangered species with emphasis on collaboration among regional countries. The rationale behind the proposed approach is that the countries which have been grouped into same clique inherit a lot of argues illustrating common reasons of their struggles towards ecological safety with minimization of perils for endangered species. The development and implementation of a regional approach based on this similar grouping address the actions that could offer significant benefits in achieving their goal for ecological policies. Other critical actions at this clique level include fortifying and elevating harmonization of legal frameworks with emphasis on prevention procedural issues; awareness realizations of endangered species issues and its priority. Such actions will eventually lead towards implementation of essential plans fulfilling co-operative expertise and common endeavors.
Full Text Available Most proteins of the TRIM family (also known as RBCC family are ubiquitin ligases that share a peculiar protein structure, characterized by including an N-terminal RING finger domain closely followed by one or two B-boxes. Additional protein domains found at their C termini have been used to classify TRIM proteins into classes. TRIMs are involved in multiple cellular processes and many of them are essential components of the innate immunity system of animal species. In humans, it has been shown that mutations in several TRIM-encoding genes lead to diverse genetic diseases and contribute to several types of cancer. They had been hitherto detected only in animals. In this work, by comprehensively analyzing the available diversity of TRIM and TRIM-like protein sequences and evaluating their evolutionary patterns, an improved classification of the TRIM family is obtained. Members of one of the TRIM subfamilies defined, called Subfamily A, turn to be present not only in animals, but also in many other eukaryotes, such as fungi, apusozoans, alveolates, excavates and plants. The rest of subfamilies are animal-specific and several of them originated only recently. Subfamily A proteins are characterized by containing a MATH domain, suggesting a potential evolutionary connection between TRIM proteins and a different type of ubiquitin ligases, known as TRAFs, which contain quite similar MATH domains. These results indicate that the TRIM family emerged much earlier than so far thought and contribute to our understanding of its origin and diversification. The structural and evolutionary links with the TRAF family of ubiquitin ligases can be experimentally explored to determine whether functional connections also exist.
Felipe Cárdenas-Arroyo, arqueólogo colombiano de la Universidad de Los Andes en Bogotá, erudito de CASVA, especialista en momificación pre-hispánica de huesos humanos.Abstract: Felipe Cárdenas-Arroyo, Colombian archaeologist from the University of Los Andes in Bogotá, CASVA scholar, specialist in pre-Hispanic mummification and human bone.
Full Text Available Energy policy of the European Community is implemented by setting various goals in directives and developing support mechanisms to achieve them. However, very often these policies and legislation come into contradiction with each other, for example Directive 2009/28/EC on the promotion of the use of energy from renewable sources and Directive 2012/27/EU on energy efficiency, repealing Directive 2004/8/EC on the promotion of cogeneration based on a useful heat demand.
La violencia en la historia Que los Andes hayan sido lugares de violencia en el transcurso de los siglos no tiene nada de sorprendente; es ahí donde se encontraban los hombres o por lo menos la mayoría de ellos, es ahí donde estallaban los conflictos y se resolvían después de batallas y represiones. Guerras de la Conquista, donde en cada campo se encontraban indios y hasta españoles a veces; rebeliones “indias” del fin del siglo xviii, de Túpac Amaru en la región del Cusco a Túpac Katari en e...
de la Torre, A.; Alexander, P.; Giraldez, A.
Spectral results from a vertical sounding of temperature and wind velocity performed with an open stratospheric balloon in Argentina near the Andes mountains between 12 and 25 km of altitude, are reported. The use of sonic anemometers allows for a higher resolution than in previous experiments. The data records are studied in successive subintervals, yielding a good spectral correlation between the ascent and the descent around and below the tropopause. The possibilities of an orographic origin for large amplitude modes observed in the spectra and of wave generation by non linear interactions between them are discussed.
Defossez, Anne-Claire; Bassin, Didier; Viveros, Mara; Sánchez Parga, José; Vaca Bucheli, Rocío; Llanos Cervantes, Elvira; Li, Dina; Urra Giraldo, Fernando; Zapata Arteaga, Diego; Poloni, Jacques; Moscoso, Martha; Bejarano, Nilse; Arango, Luz Gabriela; Palomino, Nancy; Borchart de Moreno, Cristiana
El Seminario "Mujeres de los Andes: condiciones de vida y salud" tuvo lugar en la ciudad de Quito, del 6 al 10 de junio de 1991, reunió investigadores de distintas disciplinas académicas y actores de variados campos, de cuatro países del área andina Bolivia, Colombia, Ecuador y Perú-, en los cuales está presente el Instituto Francés de Estudios Andinos, principal instigador del evento. Este libro, que reúne la mayor parte de las ponencias en él presentadas, se inscribe en la línea de las cor...
Fernandez-Turiel, J. L.; J. Saavedra; Perez-Torrado, J. F.; Rodriguez-Gonzalez, A.; Carracedo, Juan Carlos; Osterrieth, M.; Carrizo, J. I.; Esteban, G.
We present new data and interpretation about a major eruption -spreading 110 km3 ashes over 440.000 km2- long thought to have occurred around 4200 years ago in the Cerro Blanco Volcanic Complex (CBVC) in NW Argentina. This eruption may be the biggest during the past five millennia in the Central Volcanic Zone of the Andes, and possibly one of the largest Holocene eruptions in the world. The environmental effects of this voluminous eruption are still noticeable, as evidenced by the high conte...
Alonso, Ricardo N.; Jordan, Teresa E.; Tabbutt, Kenneth T.; Vandervoort, Dirk S.
Large volumes of continental evaporites accumulated within the central Andes during Neogene uplift of the Altiplano-Puna plateau and development of the Andean volcanic arc. Halite and gypsum are dominant minerals, along with local and economically important borates. Playa conditions have existed since ca. 15 Ma; halite and borate deposition has occurred for the past 7 to 8 m.y. Evaporites formed in salar environments (e.g., playa lakes) and are characterized by complex mineral assemblages, occurrence, zonation, and geochemistry. Evaporite deposition was controlled by volcanism, geothermal activity, closed drainage, and climate. These Andean deposits, and their controls, differ from evaporites in other continental and marine environments.
Duque Escobar, Gonzalo
La Orinoquia y la Amazonia con su considerable red hídrica natural y cadena de valor, esperan ver consolidadas dos rutas que pasando por los Andes articulen el Atlántico y el Pacífico, conformando dos corredores logísticos que avanzarían a Bogotá por el río Meta y a Quito por el río Napo; proyectos vitales para la integración de América del Sur y para la identidad y desarrollo de dichas regiones que comprenden el 46,7 % de la superficie sudamericana
Castroviejo Bolibar, Ricardo; Rodrigues, Feliciano; Tassinari, Colombo G.; Pereira, Eurico; Acosta, Jorge
A discoutinuous NNW-SSE trending belt of scattered ultraiuafic (UM) and subordínate mafic (M) rocks ís exposed alona some 250 km in the Eastern Cordillera of the peruvian Andes (Junin and Huanuco Departnients. -°"-12° S). New data questiou tlieír pieviousty assuuned [1.2] intrusive origin. Work, in progress shows tLat the essential geologic and tecronk featiires are comnion to most of them, as will t e shown on the southeniniost occurrences: Tapo and Acobaniba (Tarraa proviuce). The Tapo mass...
Laenen, Benjamin; Machac, Antonin; Gradstein, S Robbert; Shaw, Blanka; Patiño, Jairo; Désamoré, Aurélie; Goffinet, Bernard; Cox, Cymon J; Shaw, A Jonathan; Vanderpoorten, Alain
Shifts in sexual systems are one of the key drivers of species diversification. In contrast to angiosperms, unisexuality prevails in bryophytes. Here, we test the hypotheses that bisexuality evolved from an ancestral unisexual condition and is a key innovation in liverworts. We investigate whether shifts in sexual systems influence diversification using hidden state speciation and extinction analysis (HiSSE). This new method compares the effects of the variable of interest to the best-fitting latent variable, yielding robust and conservative tests. We find that the transitions in sexual systems are significantly biased toward unisexuality, even though bisexuality is coupled with increased diversification. Sexual systems are strongly conserved deep within the liverwort tree but become much more labile toward the present. Bisexuality appears to be a key innovation in liverworts. Its effects on diversification are presumably mediated by the interplay of high fertilization rates, massive spore production and long-distance dispersal, which may separately or together have facilitated liverwort speciation, suppressed their extinction, or both. Importantly, shifts in liverwort sexual systems have the opposite effect when compared to angiosperms, leading to contrasting diversification patterns between the two groups. The high prevalence of unisexuality among liverworts suggests, however, a strong selection for sexual dimorphism. PMID:27074401
Darío A Lijtmaer
Full Text Available BACKGROUND: The causes for the higher biodiversity in the Neotropics as compared to the Nearctic and the factors promoting species diversification in each region have been much debated. The refuge hypothesis posits that high tropical diversity reflects high speciation rates during the Pleistocene, but this conclusion has been challenged. The present study investigates this matter by examining continental patterns of avian diversification through the analysis of large-scale DNA barcode libraries. METHODOLOGY AND PRINCIPAL FINDINGS: Standardized COI datasets from the avifaunas of Argentina, the Nearctic, and the Palearctic were analyzed. Average genetic distances between closest congeners and sister species were higher in Argentina than in North America reflecting a much higher percentage of recently diverged species in the latter region. In the Palearctic genetic distances between closely related species appeared to be more similar to those of the southern Neotropics. Average intraspecific variation was similar in Argentina and North America, while the Palearctic fauna had a higher value due to a higher percentage of variable species. Geographic patterning of intraspecific structure was more complex in the southern Neotropics than in the Nearctic, while the Palearctic showed an intermediate level of complexity. CONCLUSIONS AND SIGNIFICANCE: DNA barcodes can reveal continental patterns of diversification. Our analysis suggests that avian species are older in Argentina than in the Nearctic, supporting the idea that the greater diversity of the Neotropical avifauna is not caused by higher recent speciation rates. Species in the Palearctic also appear to be older than those in the Nearctic. These results, combined with the patterns of geographic structuring found in each region, suggest a major impact of Pleistocene glaciations in the Nearctic, a lesser effect in the Palearctic and a mild effect in the southern Neotropics.
The issue of diversifying natural gas supply to Romania gained importance after 1989. Currently, there are several factors which reinforce the need for the diversification: energy consumption structure; ratio of domestic production to import and traditionally strong natural gas industry. The mentioned points lead to the conclusion that ROMGAZ has to integrate further into the European gas market, to diversify sources of supply and to attract foreign investments. It is clear that the supply diversification depends on three crucial factors: economic recovery (partially achieved after 1992); general price stability (ending permanent depreciation of lev against US dollar); and raising natural gas prices to economic levels. Once those factors are in place, the possibility of gas supply diversification would become more tangible
For several years, Tecnatom has been developing a technology and market diversification strategy based on its corporate vision of technological leadership in the services and products it supplies on the national an international nuclear market. Starting with the historical development of these technologies, this article describes how diversification in the global market is initiated and identifies the industrial market segments where the provision of services and the supply of high-tech products can be expanded. It also includes the diversification strategies in these new markets, and presents some of the results obtained in the aeronautical and aerospace market, the transportation market, the industrial processes market, etc. Finally, it provides some examples of the development of new virtual reality and enhanced reality technologies and how these new capabilities are fed back to the nuclear market. (Author)
Portfolio diversification and active risk management are essential parts of financial analysis which became even more crucial (and questioned) during and after the years of the Global Financial Crisis. We propose a novel approach to portfolio diversification using the information of searched items on Google Trends. The diversification is based on an idea that popularity of a stock measured by search queries is correlated with the stock riskiness. We penalize the popular stocks by assigning them lower portfolio weights and we bring forward the less popular, or peripheral, stocks to decrease the total riskiness of the portfolio. Our results indicate that such strategy dominates both the benchmark index and the uniformly weighted portfolio both in-sample and out-of-sample. PMID:24048448
Zech, J.; Zech, R.; May, J.; Kubik, P. W.; Veit, H.
Short term climate reversals, such as Heinrich I (H-I) and the Younger Dryas (YD), are well documented in the Northern Hemisphere. However, the respective response of the climate system in the Southern Hemisphere during these events remains enigmatic. Here we present 10Be surface exposure ages from the Wara Wara Valley (17°S, 66°W), Cordillera Cochabamba, that reveal glacial advances in the Central Andes before 14.3 ka and 11.9 ka. These advances correlate with H-I and YD and coincide with the lake transgression phases Tauca (18-14 ka) and Coipasa (13-11 ka) on the Altiplano. They corroborate the precipitation sensitivity of glacier mass balances in the semi-arid Central Andes. We suggest that sufficient moisture for glacial advances can be explained by enhanced upper tropospheric easterlies as a response to an intensified tropical circulation and sustained la Niña like patterns in the eastern Pacific. This redistribution of the ocean and atmospheric circulation was caused by a southward shift of the ITCZ due to northern hemispheric cooling. At 10.8 ka glacier advanced again attributed to increased moisture supply by enhanced polar advection and SE trade winds during the Early Holocene. Final deglaciation started only at 9.2 ka induced by a change to drier conditions.
Strategic management of LLNL's research effort is addressed. A general framework is established by presenting the McKinsey/BCG Matrix Analysis as it applies to the research portfolio. The framework is used to establish the need for the diversification into new attractive areas of research and for the improvement of the market position of existing research in those attractive areas. With the need for such diversification established, attention is turned to optimizing it. There are limited resources available. It is concluded that LLNL should diversify into only a few areas and try to obtain full market share as soon as possible
Xie, Peihong; Li, Xin; Wu, Sibin
in emerging economies and believes conglomeration is value-creating because conglomerates can effectively fill the institutional voids in the emerging markets. Our literature review shows that the conventional institutional view on conglomeration mainly focuses on the value-creating aspects while neglects......-entrepreneur exchange theoretical model to account for such unconventional diversifications. Therefore, we adopt a case study approach to theory-building (Eisenhardt, 1989). We have made two contributions to knowledge. One is that we contribute to the diversification literature by identifying the unconventional...
Full Text Available One way to increase the effectiveness and economic stability of a construction company is product diversification. Intention to diversify construction products can be initiated for such reasons as necessity of capital injection, reducing of risks and costs of production, desire for optimization of delivery system, increasing economic competitiveness, etc. BIM can help to solve assigned tasks by diversification and optimize system operation as a whole. It becomes an actuality especially under conditions of severe competition when the possibility of attaining a work contract is reduced by increased focus.
Garcia-Porta, Joan; Šmíd, Jiří; Sol, Daniel; Fasola, Mauro; Carranza, Salvador
Island colonization is often assumed to trigger extreme levels of phenotypic diversification. Yet, empirical evidence suggests that it does not always so. In this study we test this hypothesis using a completely sampled mainland-island system, the arid clade of Hemidactylus, a group of geckos mainly distributed across Africa, Arabia and the Socotra Archipelago. To such purpose, we generated a new molecular phylogeny of the group on which we mapped body size and head proportions. We then explored whether island and continental taxa shared the same morphospace and differed in their disparities and tempos of evolution. Insular species produced the most extreme sizes of the radiation, involving accelerated rates of evolution and higher disparities compared with most (but not all) of the continental groups. In contrast, head proportions exhibited constant evolutionary rates across the radiation and similar disparities in islands compared with the continent. These results, although generally consistent with the notion that islands promote high morphological disparity, reveal at the same time a complex scenario in which different traits may experience different evolutionary patterns in the same mainland-island system and continental groups do not always present low levels of morphological diversification compared to insular groups. PMID:27071837
Blom, Mozes P K; Horner, Paul; Moritz, Craig
Recent radiations are important to evolutionary biologists, because they provide an opportunity to study the mechanisms that link micro- and macroevolution. The role of ecological speciation during adaptive radiation has been intensively studied, but radiations can arise from a diversity of evolutionary processes; in particular, on large continental landmasses where allopatric speciation might frequently precede ecological differentiation. It is therefore important to establish a phylogenetic and ecological framework for recent continental-scale radiations that are species-rich and ecologically diverse. Here, we use a genomic (approx. 1 200 loci, exon capture) approach to fit branch lengths on a summary-coalescent species tree and generate a time-calibrated phylogeny for a recent and ecologically diverse radiation of Australian scincid lizards; the genus Cryptoblepharus We then combine the phylogeny with a comprehensive phenotypic dataset for over 800 individuals across the 26 species, and use comparative methods to test whether habitat specialization can explain current patterns of phenotypic variation in ecologically relevant traits. We find significant differences in morphology between species that occur in distinct environments and convergence in ecomorphology with repeated habitat shifts across the continent. These results suggest that isolated analogous habitats have provided parallel ecological opportunity and have repeatedly promoted adaptive diversification. By contrast, speciation processes within the same habitat have resulted in distinct lineages with relatively limited morphological variation. Overall, our study illustrates how alternative diversification processes might have jointly stimulated species proliferation across the continent and generated a remarkably diverse group of Australian lizards. PMID:27306048
Carrara, Rodolfo; Flores, Gustavo E
Tenebrionidae is a diverse insect family of Coleoptera that shows high levels of endemicity in epigean species. For the Andean region, which is divided into three subregions: Central Chilean, Subantarctic and Patagonian, it has been hypothesized that epigean tenebrionids have diversified in the Patagonian subregion and subsequently, they dispersed to Subantarctic and Central Chilean subregions. In this work, based on information obtained from museum collections and scientific studies, we presented the first list of endemic epigean tenebrionids from the Andean region with their taxonomic arrangement and geographic distribution. Moreover, we used these data to explore the veracity of the Patagonian-diversification hypothesis. A total of 416 species grouped into six subfamilies, 17 tribes and 41 genera were identified as endemic to the Andean region. Considering the spatial distribution it was observed that subfamilies, tribes, genera and species were unequally distributed across subregions. Results did not support the Patagonian-diversification hypothesis; to the contrary, they were more concordant with processes of isolation among subregions that have promoted speciation by interrupting gene flow among populations, resulting in endemism because species can not expand their range sizes. Finally, we discuss the implications of our findings to be considered in biodiversity conservation, because endemic species, by their high extinction risk, are primary targets in conservation strategies. PMID:26623788
Full Text Available Nonfarm activities play an important role in the determination of rural household income, consumption expenditure, and household food security. However, much less studies have been devoted to the factors that influence nonfarm income diversification by farm household in developing countries. Using cross-sectional data and a probit model, this study attempts to determine the factors influencing nonfarm income diversification decisions by farm households in Central Nepal. The result reveals that household characteristics such as age, gender and education of the household head, and family size play a significant role in nonfarm work decisions. The households with larger farm size are less likely to participate in nonfarm work than their counterpart. Additionally, for those remains in the rural households, distance to road and market hinders the opportunities for nonfarm work. Finally, regional differences also exist in participating nonfarm activities among farm households. This study suggests that government policy should pay more attention on education, gender and infrastructures such as road and markets, to reduce the entry barriers and facilitate easier access to nonfarm activities. Also, nonfarm activities need to be promoted and incorporated in governmental plans and policies for balanced development between hills and terai areas.
K. Föller; B. Stelbrink; Hauffe, T.; Albrecht, C.; Wilke, T.
Ancient lakes represent key ecosystems for endemic freshwater species. This high endemic biodiversity has been shown to be mainly the result of intra-lacustrine diversification. Whereas the principle role of this mode of diversification is generally acknowledged, actual diversification rates in ancient lakes remain little understood. At least four modes are conceivable. Diversification rates may be constant over time, they may fluctuate, rates may be higher ...
K. Föller; B. Stelbrink; Hauffe, T.; Albrecht, C.; Wilke, T.
Ancient lakes represent key ecosystems for endemic freshwater species. This high endemic biodiversity has been shown to be mainly the result of intra-lacustrine diversification. Whereas the principle role of this mode of diversification is generally acknowledged, actual diversification rates in ancient lakes remain little understood. At least four types are conceivable. Diversification rates may be constant over time, they may fluctuate, rates may be higher in the initial ph...
Van Dyk, Francois
Diversification is one of the three most prominent elements of portfolio management with risk and return being the other two. In addition, diversification is a core objective for combining assets and is a central tenet of portfolio construction. It is also widely known that diversification is concerned with the number of unrelated sources of return and in essence the aim of diversification is to eliminate unsystematic risk from an investment portfolio while systematic risk will remain as it c...
Full Text Available The goal of this article is to examine the relationship between unrelated diversification and performance. Results indicate that diversified firms, investing in activities far from the corebusiness, have high performance. Unrelated diversification positively affects firms’ performance. In addition, the estimation methods applied are fundamental in order to verify if there are endogeneity problems in the diversification decision and evaluate the effective role of diversification on performance.
Despite the importance of industrial and geographical diversification of exports, the literature says little about what a “normal” level of diversification is. This paper takes a step in this direction and develops a methodology to measure a normal level of diversification along industry and space dimensions. The degree of export diversification is computed conditional on country characteristics and bilateral trade costs. The methodology combines several approaches that recently received atte...
Prakash Loungani; Joutz, Frederick L.; Gail Cohen
We present evidence on one facet of energy security in OECD economies - the extent of diversification in sources of oil and natural gas supplies. Viewed from the perspective of the energy-importing countries as a whole, there has not been much change in diversification in oil supplies over the last decade, but diversification in sources of natural gas supplies has increased steadily. We document the cross-country heterogeneity in the extent of diversification. We also show how the extent of d...
Previšić, Ana; Schnitzler, Jan; KUČINIĆ, MLADEN; GRAF, WOLFRAM; Ibrahimi, Halil; Kerovec, Mladen; PAULS, STEFFEN U.
The karst areas in the Dinaric region of the Western Balkan Peninsula are a hotspot of freshwater biodiversity. Many investigators have examined diversification of the subterranean freshwater fauna in these karst systems. However, diversification of surface-water fauna remains largely unexplored. We assessed local and regional diversification of surface-water species in karst systems and asked whether patterns of population differentiation could be explained by dispersal–diversification proce...
Letty Salinas; María Samamé; Irma Franke; Jon Fjeldså
El frutero pechinegro, Pipreola lubomirskii, es un cotíngido registrado como raro y de distribución local en los Andes del Norte. Antes del presente registro sólo había sido reportado para la vertiente oriental del Perú y Ecuador, así como los Andes del sur de Colombia. El presente registro amplia su distribución a los bosques montañosos de la vertiente occidental de los Andes peruanos, habiéndose encontrado en los bosques nublados del valle del río Zaña, en el departamento de Cajamarca (6º50...
Diversification strategy is an important driver of organizational conduct and performance. Despite its recognized linkage to other strategy-making elements, such as corporate entrepreneurship, research has devoted minimal attention to explicitly investigating relationships among diversification, corporate entrepreneurship and performance elements. This study contributes to a better understanding of diversification strategy driven corporate entrepreneurship and performance by testing a normati...
Wright, Cream A. H.
This paper deals with a case study of secondary curriculum diversification as a vocationalization strategy in Sierra Leone. It explores diversification issues from four crucial standpoints that are distinct but highly interrelated. First, diversification is dealt with as a policy that was adopted and actively pursued by Sierra Leone for over a…
Cruz Agudo, Yesmina; Jones, Andrew D; Berti, Peter R; Larrea Macías, Sergio
Northern Potosi is one of the poorest parts of Bolivia with the highest indicators of rural poverty, malnutrition and food insecurity in the Bolivian Andes. The objective of this research was to characterize the levels of malnutrition and describe infant feeding practices in Potosi, Bolivia and use this information to develop an effective, gender sensitive and culturally relevant intervention encouraging good infant feeding practices. Standard methods were used to collect anthropometric data. Weight and height data were collected for 400 children under five years of age from 30 communities. In six of these communities, interviews and focus group discussions were conducted with 33 mothers and other families in addition to household observational data that were collected to describe infant feeding practices. Nearly 20% of children were underweight; stunting was widespread as well. 38% of mothers initiated breastfeeding 12 hours or more after birth. 39% of mothers initiated complementary feeding in the first three months following birth. The type of complementary food given to children was usually inadequate. With this research we could see that nutritional deficiencies often begin when the mother starts breastfeeding and when first introduced complementary feeding. Interventions aimed at improving maternal and child nutrition will require changes in parents' behavior, greater recognition and community support of the importance of child feeding, and the inclusion of strategies to reach young people, involve men, and make high quality nutrition promotion more widely available in the communities. PMID:21090271
Vial, Cecilia; Martinez-Valdebenito, Constanza; Rios, Susana; Martinez, Jessica; Vial, Pablo A; Ferres, Marcela; Rivera, Juan C; Perez, Ruth; Valdivieso, Francisca
Hantavirus cardiopulmonary syndrome is a severe disease caused by exposure to New World hantaviruses. Early diagnosis is difficult due to the lack of specific initial symptoms. Antihantavirus antibodies are usually negative until late in the febrile prodrome or the beginning of cardiopulmonary phase, while Andes hantavirus (ANDV) RNA genome can be detected before symptoms onset. We analyzed the effectiveness of quantitative reverse transcription polymerase chain reaction (RT-qPCR) as a diagnostic tool detecting ANDV-Sout genome in peripheral blood cells from 78 confirmed hantavirus patients and 166 negative controls. Our results indicate that RT-qPCR had a low detection limit (~10 copies), with a specificity of 100% and a sensitivity of 94.9%. This suggests the potential for establishing RT-qPCR as the assay of choice for early diagnosis, promoting early effective care of patients, and improving other important aspects of ANDV infection management, such as compliance of biosafety recommendations for health personnel in order to avoid nosocomial transmission. PMID:26508102
Isora V Sernández
Full Text Available The humoral immune response critically relies on the secondary diversification of antibodies. This diversification takes places through somatic remodelling of the antibody genes by two molecular mechanisms, Class Switch Recombination (CSR and Somatic Hypermutation (SHM. The enzyme Activation Induced Cytidine Deaminase (AID initiates both SHM and CSR by deaminating cytosine residues on the DNA of immunoglobulin genes. While crucial for immunity, AID-catalysed deamination is also the triggering event for the generation of lymphomagenic chromosome translocations. To address whether restricting the levels of AID expression in vivo contributes to the regulation of its function, we analysed mice harbouring a single copy of the AID gene (AID(+/-. AID(+/- mice express roughly 50% of normal AID levels, and display a mild hyperplasia, reminiscent of AID deficient mice and humans. Moreover, we found that AID(+/- cells have an impaired competence for CSR and SHM, which indicates that AID gene dose is limiting for its physiologic function. We next evaluated the impact of AID reduction in AID(+/- mice on the generation of chromosome translocations. Our results show that the frequency of AID-promoted c-myc/IgH translocations is reduced in AID(+/- mice, both in vivo and in vitro. Therefore, AID is haploinsufficient for antibody diversification and chromosome translocations. These findings suggest that limiting the physiologic levels of AID expression can be a regulatory mechanism that ensures an optimal balance between immune proficiency and genome integrity.
Jones, Sam; Diem, Torsten; Priscila Huaraca Quispe, Lidia; Quispe Ccahuana, Adan Julian; Meir, Patrick; Arn Teh, Yit
Discrepancies exist between top-down and bottom-up estimates of the tropical South American atmospheric methane budget. This suggests that current source-sink inventories fail to adequately characterise the landscapes of the region. This may be particularly true of Andean environments where very few field observations have been made. The high tropical Andes, between tree and permanent snow-lines, is home to diverse grass, shrub and giant rosette dominated ecosystems known variously from Venezuela to northern Chile and Argentina as paramo, jalca and puna. In humid regions these are characterised by wet, organic-rich mineral soils, peat-forming wetlands and shallow lakes. Such conditions are likely to promote methane production and potentially represent a regionally significant source to the atmosphere that should be considered. We report on methane fluxes from a bunch-grass dominated puna habitat at 3500 m above sea level in south-eastern Peru. Mean annual temperature and precipitation are 11 °C and 2500 mm, respectively. Temperature is aseasonal but experiences considerable diurnal variations with overnight frosting common-place. In contrast, rainfall is intensely episodic and has a pronounced wet season between September and March. Sampling encompassed a range of topographic features, such as grassland on freely draining, gently inclined or steep slopes and depressions containing bogs, over a 3 ha ridge to basin transition. Monthly sampling was carried out between January 2011 and June 2013 to investigate seasonal variability in methane fluxes. Intensive sampling campaigns were conducted to investigate spatial and short-term variations on a daily basis in two nine-day campaigns during wet and dry season. The site was a net source of methane to the atmosphere during the period of study. Methane fluxes were dominated by emissions from bogs, whereas, freely draining grassland exhibited weak source or marginal sink activity. Temporal variations were most notable at
Quinteros, J.; Sobolev, S. V.
The convergence velocity rate of the Nazca and South-American plate and its variations during the last 100 My are quite well-known from the global plate reconstructions. The key observation is that the rate of Nazca plate subduction has decreased by about 2 times during last 20 Myr and particularly since 10 Ma. During the same time the Central Andes have grown to its present 3-4 km height. Based on the thin-shell model, coupled with mantle convection, it was suggested that slowing down of Nazca plate resulted from the additional load exerted by the Andes. However, the thin-shell model, that integrates stresses and velocities vertically and therefore has no vertical resolution, is not an optimal tool to model a subduction zone. More appropriate would be modeling it with full thermomechanical formulation and self-consistent subduction. We performed a set of experiments to estimate the influence that an orogen like the Andes could have on an ongoing subduction. We used an enhanced 2D version of the SLIM-3D code suitable to simulate the evolution of a subducting slab in a self-consistent manner (gravity driven) at vertical crossections through upper mantle, transition zone and shallower lower mantle. The model utilizes non-linear temperature- and stress-dependant visco-elasto-plastic rheology and phase transitions at 410 and 660 km depth. We started from a reference case with a similar configuration as both Nazca and South-America plates. After some Mys of slow kinematicaly imposed subduction, to develop a coherent thermo-mechanical state, subduction was totally dynamic. On the other cases, the crust was slowly thickened artificially during 10 My to generate the Andean topography. Although our first results show no substantial changes on the velocity pattern of the subduction, we, however, consider this result as preliminary. At the meeting we plan to report completed and verified modeling results and discuss other possible cases of the late Cenozoic slowing down of
In this paper we explore the link between board structure and firm performance for twenty-eight non-banking companies listed on Tunis Stock Exchange over the period 1997-2003. Our empirical results corroborate previous studies making in Tunisia. Furthermore, conglomerate diversification destroys the effectiveness of governance board and therefore negatively associated to the corporate performance.
Jezbera, Jan; Jezberová, Jitka; Brandt, U.; Hahn, M.W.
Roč. 13, č. 4 (2011), s. 922-931. ISSN 1462-2912 R&D Projects: GA ČR(CZ) GAP504/10/0566; GA MŠk(CZ) MEB060901 Institutional research plan: CEZ:AV0Z60170517 Keywords : ubiquity * Polynucleobacter * ecological diversification Subject RIV: EE - Microbiology, Virology Impact factor: 5.843, year: 2011
Morrell, Louis R.
As the business environment becomes more global, so should a college or university's investment portfolio. Global diversification is becoming increasingly important in controlling risk and enhancing return. This article examines the size of bond markets and returns on bond investments in several nations, performance of world equity markets, and…
Actual portfolios contain fewer stocks than are implied by standard financial analysis that balances the costs of diversification against the benefits in terms of the standard deviation of the returns. Suppose a safety first investor cares about downside risk and recognizes the heavytail feature of the asset return distributions. Then we show that optimal portfolio sizes are smaller than traditional correlation based diversificationanalysis suggests.
Vol. 2. Craiova : Asers Publishers, 2013 - (Mirdala, R.), s. 38-56 ISBN 978-606-93129-5-7. - (Financia. FINART. 3) R&D Projects: GA ČR GA13-11983S Institutional support: RVO:67985556 Keywords : collateral * diversification * default Subject RIV: AH - Economics http://library.utia.cas.cz/separaty/2013/E/derviz-0397168.pdf
Joseph G. Haubrich
Conventional wisdom on bank diversification confuses risk with failure. This article clarifies the distinction and shows how increasing bank size may increase bank risk, even though it lessens the probability of failure and lowers the expected loss. The key result is an application of Samuelson's "fallacy of large numbers."
Ma, Ka Yan; Craig, Matthew Thomas; Choat, John Howard; van Herwerden, Lynne
Groupers (family Epinephelidae) are a clade of species-rich, biologically diverse reef fishes. Given their ecological variability and widespread distribution across ocean basins, it is important to scrutinize their evolutionary history that underlies present day distributions. This study investigated the patterns and processes by which grouper biodiversity has been generated and what factors have influenced their present day distributions. We reconstructed a robust, time-calibrated molecular phylogeny of Epinephelidae with comprehensive (∼87%) species sampling, whereby diversification rates were estimated and ancestral ranges were reconstructed. Our results indicate that groupers originated in what is now the East Atlantic during the mid-Eocene and diverged successively to form six strongly supported main clades. These clades differ in age (late Oligocene to mid-Miocene), geographic origin (West Atlantic to West Indo-Pacific) and temporal-spatial diversification pattern, ranging from constant rates of diversification to episodes of rapid radiation. Overall, divergence within certain biogeographic regions was most prevalent in groupers, while vicariant divergences were more common in Tropical Atlantic and East Pacific groupers. Our findings reveal that both biological and geographical factors have driven grouper diversification. They also underscore the importance of scrutinizing group-specific patterns to better understand reef fish evolution. PMID:26908372
Brandth, Berit; Haugen, Marit S.
This article deals with how diversification and transformation of farming into tourism may influence the social identity of farmers. Based on a study of 19 farms run by couples engaged with agritourism, it shows how the development of tourism on the farms can be understood in a perspective of repeasantization; and how the couples draw on their…
Mokodongan, Daniel F; Yamahira, Kazunori
Although the family Adrianichthyidae is broadly distributed throughout East and Southeast Asia, 19 endemic species, over half of the family, are distributed in Sulawesi, which is an island in Wallacea. However, it remains unclear how this Adrianichthyidae biodiversity hotspot was shaped. In this study, we reconstructed molecular phylogenies for the Sulawesi adrianichthyids and estimated the divergence times of major lineages to infer the detailed history of their origin and subsequent intra-island diversification. The mitochondrial and nuclear phylogenies revealed that Sulawesi adrianichthyids are monophyletic, which indicates that they diverged from a single common ancestor. Species in the earliest branching lineages are currently distributed in the central and southeastern parts of the island, indicating that the common ancestor colonized Sula Spur, which is a large promontory that projects from the Australian continental margin, from Asia by oversea dispersal c.a. 20Mya. The first diversification event on Sulawesi, the split of the genus Adrianichthys, occurred c.a. 16Mya, and resulted in the nesting of Adrianichthys within Oryzias. Strong geographic structure was evident in the phylogeny; many species in the lineages branching off early are riverine and widely distributed in the southeastern and southwestern arms of Sulawesi, which suggests that oversea dispersal between tectonic subdivisions of this island during the late Miocene (7-5Mya) contributed to the distributions and diversification of the early branching lineages. In contrast, most species in the lineages branched off later are endemic to a single tectonic lake or lake system in the central Sulawesi, suggesting that habitat fragmentation due to the Pliocene collisions (c.a. 4Mya) among the tectonic subdivisions was the primary factor for diversification of the late branching, lacustrine lineages. Adrianichthys and some Oryzias in a certain late branching lineage are sympatric in Lake Poso, which
US Fish and Wildlife Service, Department of the Interior — This narrative report summarizes activities on Lake Andes National Wildlife Refuge between January and April of 1951. Water conditions, furbearers, and maintenance...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR outlines Refuge accomplishments during the 1966 calendar year. The report begins by summarizing the weather...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes NWR outlines Refuge accomplishments from January through April of 1963. The report begins by summarizing the weather...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes Wetland Management District outlines District accomplishments during the 1987 calendar year. The report begins with an...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes Wetland Management District outlines District accomplishments during the 1984 calendar year. The report begins with an...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes Wetland Management District outlines District accomplishments during the 1982 calendar year. The report begins with an...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes Wetland Management District outlines District accomplishments during the 1981 calendar year. The report begins with an...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes Wetland Management District outlines District accomplishments during the 1986 calendar year. The report begins with an...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes Wetland Management District outlines District accomplishments during the 1983 calendar year. The report begins with an...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes Wetland Management District outlines Refuge accomplishments during the 1992 calendar year. The report begins with a...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes National Wildlife Refuge outlines Refuge accomplishments from September through December of 1952. The report begins by...
US Fish and Wildlife Service, Department of the Interior — Lake Andes was included in the 1998 South Dakota 303(d) list as an impairment-related Total Maximum Daily Load waterbody. In 1922 Congress passed a bill that...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR- Waterfowl Production Area outlines Refuge accomplishments during the 1967 calendar year. The report begins by...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes Wetlands District outlines Refuge accomplishments during the 1968 calendar year. The report begins by summarizing the...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes NWR outlines Refuge accomplishments from May through August of 1955. The report begins by summarizing the weather conditions,...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR outlines Refuge accomplishments during the 1970 calendar year. The report begins by summarizing the weather...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes NWR outlines Refuge accomplishments from January through April of 1957. The report begins by summarizing the weather...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes NWR outlines Refuge accomplishments from May through August of 1953. The report begins by summarizing the weather conditions,...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes Wetlands District outlines Refuge accomplishments during the 1971 calendar year. The report begins by summarizing the...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes NWR outlines Refuge accomplishments from May through August of 1962. The report begins by summarizing the weather conditions,...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes Wetlands District outlines Refuge accomplishments during the 1970 calendar year. The report begins by summarizing the...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR outlines Refuge accomplishments during the 1968 calendar year. The report begins by summarizing the weather...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes Wetlands District outlines Refuge accomplishments during the 1972 calendar year. The report begins by summarizing the...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes Wetlands District outlines Refuge accomplishments during the 1969 calendar year. The report begins by summarizing the...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes NWR outlines Refuge accomplishments from May through August of 1957. The report begins by summarizing the weather conditions,...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes NWR outlines Refuge accomplishments from September through December of 1953. The report begins by summarizing the weather...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes NWR outlines Refuge accomplishments from May through August of 1956. The report begins by summarizing the weather conditions,...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR outlines Refuge accomplishments during the 1969 calendar year. The report begins by summarizing the weather...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes NWR outlines Refuge accomplishments from September through December of 1962. The report begins by summarizing the weather...
US Fish and Wildlife Service, Department of the Interior — This narrative report for Lake Andes NWR outlines Refuge accomplishments from May through August of 1954. The report begins by summarizing the weather conditions,...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR outlines Refuge accomplishments during the 1964 calendar year. The report begins by summarizing the weather...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR outlines Refuge accomplishments during the 1971 calendar year. The report begins by summarizing the weather...
US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Lake Andes NWR and WPA outlines Refuge accomplishments during the 1965 calendar year. The report begins by summarizing the weather...
US Fish and Wildlife Service, Department of the Interior — Lake Andes was included in the 1998 South Dakota 303(d) list as an impairment-related Total Maximum Daily Load waterbody. In 1922 Congress passed a bill that...
Full Text Available High elevation, thin ozone layer, and clear sky produce intense ultraviolet (UV radiation in the tropical Andes. Recent models suggest that tropical stratospheric ozone will slightly decrease in the coming decades, potentially resulting in more UV anomalies. Data collected between 4,300-5,916 m above sea level (asl in Bolivia show how this trend could dramatically impact surface solar irradiance. During 61 days, two Eldonet dosimeters recorded extreme UV-B irradiance equivalent to a UV index (UVI of 43.3, which is the highest ground value ever reported. If they become more common, events of this magnitude may have societal and ecological implications, which make understanding the process leading to their generation critical. Our data show that this event and other major UV spikes were consistent with rising UV-B/UV-A ratios in the days to hours preceding the spikes, trajectories of negative ozone anomalies (NOAs, and radiative transfer modeling.
Denison Mark R
Full Text Available Abstract Background The advancements in DNA sequencing technologies have allowed researchers to progress from the analyses of a single organism towards the deep sequencing of a sample of organisms. With sufficient sequencing depth, it is now possible to detect subtle variations between members of the same species, or between mixed species with shared biomarkers, such as the 16S rRNA gene. However, traditional sequencing analyses of samples from largely homogeneous populations are often still based on multiple sequence alignments (MSA, where each sequence is placed along a separate row and similarities between aligned bases can be followed down each column. While this visual format is intuitive for a small set of aligned sequences, the representation quickly becomes cumbersome as sequencing depths cover loci hundreds or thousands of reads deep. Findings We have developed ANDES, a software library and a suite of applications, written in Perl and R, for the statistical ANalyses of DEep Sequencing. The fundamental data structure underlying ANDES is the position profile, which contains the nucleotide distributions for each genomic position resultant from a multiple sequence alignment (MSA. Tools include the root mean square deviation (RMSD plot, which allows for the visual comparison of multiple samples on a position-by-position basis, and the computation of base conversion frequencies (transition/transversion rates, variation (Shannon entropy, inter-sample clustering and visualization (dendrogram and multidimensional scaling (MDS plot, threshold-driven consensus sequence generation and polymorphism detection, and the estimation of empirically determined sequencing quality values. Conclusions As new sequencing technologies evolve, deep sequencing will become increasingly cost-efficient and the inter and intra-sample comparisons of largely homogeneous sequences will become more common. We have provided a software package and demonstrated its
CONSTANZA CASTILLO H.
Full Text Available Desde 1993 han ocurrido 204 casos de Síndrome Cardiopulmonar por Hantavirus (SCPH en Chile. Los brotes epidémicos comenzaron en el sur y avanzan hacia el norte del país. Los más afectados son varones jóvenes, obreros agrícolas o forestales. En Chile, el SCPH es causado por el virus Andes, cuyo reservorio es el Oligorizomys longicaudatus (ratón de cola larga, que se distribuye desde la III Región al sur. El cuadro clínico es similar al descrito en EE.UU., caracterizado por una fase prodrómica que simula un estado gripal o cuadro gastrointestinal febril y que agrava por la aparición de edema pulmonar agudo e inestabilidad hemodinámica (fase cardiopulmonar. Sin embargo, cursa con mayores alteraciones hemorragí-paras y compromiso renal. La mortalidad inicial fue sobre 50% y actualmente es de alrededor del 33,3%. La presente revisión incluye: historia de la enfermedad, reservorio, modos de transmisión, patogenia, cuadro clínico, diagnóstico, tratamiento y medidas de prevenciónSince 1993, 204 cases of Hantavirus cardiopulmonary syndrome (HCPS occurred in Chile. Epidemic began in the south and moved thereafter to the northern regions. The disease affected predominantly young males, who worked in agricultural labours or as timber workers. The HCPS in Chile is caused by the Andes virus. The reservoir is the wild rat Oligoryzomis longicaudatus distributed from the III to the XII Region. The clinical features are similar to those described for Sin Nombre Virus. The disease has a prodromal stage characterised by fever, muscular pain, with or without gastrointestinal manifestations, followed by the rapid onset of respiratory insufficiency and haemodynamic unstability. Andes virus courses more often with haemorrhagic disorders and overt renal failure, than Sin Nombre Virus. The initial mortality was over 50% and declined to 33,3% in the last year. History of hantavirus-diseases, reservoir, and mode of contagion, pathogenesis, clinical
Leier, Andrew; McQuarrie, Nadine; Garzione, Carmala; Eiler, John
Paleoelevation histories from mountain belts like the Central Andes of Bolivia provide important constraints on the timing and geodynamic mechanisms associated with surface uplift. We present new oxygen and carbon isotope data (δ^(18)O, δ^(13)C, and Δ_(47)) from Oligocene–Miocene strata exposed in the Eastern Cordillera of the Bolivian Central Andes in order to reconstruct both the deformation and paleoelevation history of the region prior to late Miocene time. Paleosol carbonate in strata >2...
William E. Duellman
Full Text Available A new species of marsupial frog, genus Gastrotheca, is described from high-elevation grasslands in the Andes in Región Amazonas in northernPeru, where even calling males are well hidden in deep moss. The new species is distinguished from all congeners by its unique color pattern that includes a narrow, blackbordered, yellow middorsal stripe. The species apparently belongs to the Gastrotheca plumbea Group, which ranges in the Andes from northern Colombia to northern Peru.
Angel Ceballos, Isandra Fortuna
The central Mérida Andes (Venezuela) landscape is characterized by the presence of well-preserved glacial landforms located between 2400 and 4978 m a.s.l. Geomorphological studies of these glacial landforms significantly contribute to the Venezuelan Andes glaciations reconstructions. However, Last Glaciation (locally called Mérida Glaciation) was poorly reconstructed because of limited chronological data. This dissertation attempts to contribute to the Last Glaciation reconstruction and paleo...
Full Text Available Abstract Background Plants, plant-feeding insects, and insect parasitoids form some of the most complex and species-rich food webs. According to the classic escape-and-radiate (EAR hypothesis, these hyperdiverse communities result from coevolutionary arms races consisting of successive cycles of enemy escape, radiation, and colonization by new enemy lineages. It has also been suggested that "enemy-free space" provided by novel host plants could promote host shifts by herbivores, and that parasitoids could similarly drive diversification of gall form in insects that induce galls on plants. Because these central coevolutionary hypotheses have never been tested in a phylogenetic framework, we combined phylogenetic information on willow-galling sawflies with data on their host plants, gall types, and enemy communities. Results We found that evolutionary shifts in host plant use and habitat have led to dramatic prunings of parasitoid communities, and that changes in gall phenotype can provide "enemy-free morphospace" for millions of years even in the absence of host plant shifts. Some parasites have nevertheless managed to colonize recently-evolved gall types, and this has apparently led to adaptive speciation in several enemy groups. However, having fewer enemies does not in itself increase speciation probabilities in individual sawfly lineages, partly because the high diversity of the enemy community facilitates compensatory attack by remaining parasite taxa. Conclusion Taken together, our results indicate that niche-dependent parasitism is a major force promoting ecological divergence in herbivorous insects, and that prey divergence can cause speciation in parasite lineages. However, the results also show that the EAR hypothesis is too simplistic for species-rich food webs: instead, diversification seems to be spurred by a continuous stepwise process, in which ecological and phenotypic shifts in prey lineages are followed by a lagged evolutionary
Daniel L. Rabosky
Full Text Available Rates of species origination and extinction can vary over time during evolutionary radiations, and it is possible to reconstruct the history of diversification using molecular phylogenies of extant taxa only. Maximum likelihood methods provide a useful framework for inferring temporal variation in diversification rates. LASER is a package for the R programming environment that implements maximum likelihood methods based on the birth-death process to test whether diversification rates have changed over time. LASER contrasts the likelihood of phylogenetic data under models where diversification rates have changed over time to alternative models where rates have remained constant over time. Major strengths of the package include the ability to detect temporal increases in diversification rates and the inference of diversification parameters under multiple rate-variable models of diversification. The program and associated documentation are freely available from the R package archive at http://cran.r-project.org.
Full Text Available This paper examines the impact of estimation errors on the financial portfolios optimization processes and investigates the controversy problem of the international and domestic optimal diversification strategies choice from an American investor’s point of view. We introduce the concept of portfolio resampling method and we use the nonparametric stochastic dominance approach based simulated p-values to define an optimal diversification choice. Estimation errors visualization shows that changes in input parameters imply large changes in portfolio composition and reveals considerably modification of MV efficient frontiers shape. The findings show that there exists substantial evidence of the international global diversification benefits. Risk-adverse American investor with an increasing utility function prefers the global international resampled diversification strategy. We find that domestic diversification beats only international major and emerging markets diversification. Dominance relationships between the entirely diversification strategies change according to the risk-aversion coefficient.
Full Text Available Study of agriculture enjoys less popularity over time in most of the developed countries, including Canada and the Czech Republic. Analysis in this paper provides interesting findings about activities of agricultural universities to increase enrollment into their programs. While the study is focused on Canada, it is possible to draw implications also for the Czech Republic as many of the characteristics pertaining to the education and agricultural sectors are similar. Enrollment into educational programs in agriculture in North America has been steadily declining in the last several decades. While the overall share of agriculture on national gross domestic product has also been falling, the need for qualified people in agriculture is still eminent as the shift to sustainable agriculture appears to be one of the key priorities of governments in the US and Canada. One of the ways how to facilitate interest of prospective students to study agriculture is to diversify the programs through offering of more major options. It is important to study the motivation and other stimuli for the choice of major in order to adapt the educational programs and attract more students. In the paper, factors influencing the choice of major are studied by analyzing survey data from the only agricultural college in Atlantic Canada. The results show significant differences in the socio-economic background among the prospective students based on the choice of major. For example, students interested in social sciences much more appraise more choices of major than students in biophysical fields. Based on the findings from the analysis, several recommendations are made. It is suggested, for example, that for students interested in biophysical sciences, sport plays an important role and thus, appropriate promotional campaign about recreation and sport facilities of a post-secondary agricultural educational institutions should be conducted. Analysis in this paper may serve
Kunickis, M.; Balodis, M.; Sarma, U.; Cers, A.; Linkevics, O.
Energy policy of the European Community is implemented by setting various goals in directives and developing support mechanisms to achieve them. However, very often these policies and legislation come into contradiction with each other, for example Directive 2009/28/EC on the promotion of the use of energy from renewable sources and Directive 2012/27/EU on energy efficiency, repealing Directive 2004/8/EC on the promotion of cogeneration based on a useful heat demand. In this paper, the authors attempt to assess the potential conflicts between policy political objectives to increase the share of high-efficiency co-generation and renewable energy sources (RES), based on the example of Riga district heating system (DHS). If a new heat source using biomass is built on the right bank of Riga DHS to increase the share of RES, the society could overpay for additional heat production capacities, such as a decrease in the loading of existing generating units, thereby contributing to an inefficient use of existing capacity. As a result, the following negative consequences may arise: 1) a decrease in primary energy savings (PES) from high-efficiency cogeneration in Riga DHS, 2) an increase in greenhouse gas (GHG) emissions in the Baltic region, 3) the worsening security situation of electricity supply in the Latvian power system, 4) an increase in the electricity market price in the Lithuanian and Latvian price areas of Nord Pool power exchange. Within the framework of the research, calculations of PES and GHG emission volumes have been performed for the existing situation and for the situation with heat source, using biomass. The effect of construction of biomass heat source on power capacity balances and Nord Pool electricity prices has been evaluated.
Chakona, Albert; Swartz, Ernst R.; Gouws,Gavin
This study used phylogenetic analyses of mitochondrial cytochrome b sequences to investigate genetic diversity within three broadly co-distributed freshwater fish genera (Galaxias, Pseudobarbus and Sandelia) to shed some light on the processes that promoted lineage diversification and shaped geographical distribution patterns. A total of 205 sequences of Galaxias, 177 sequences of Pseudobarbus and 98 sequences of Sandelia from 146 localities across nine river systems in the south-western Cape...
César Aguilar; Niels Valencia
Batrachophrynus and Telmatobius are the two genus of Telmatobiinae from the central Andes. Both genera have species with adaptations for life at high altitude in the Andes, with aquatic or semi-aquatic habits in creeks, lagoons and lakes. The objective of this study is to evaluate the phylogenetic relationships between Batrachophrynus and 13 species of Telmatobius from the central Andes using larval and adult morphology including diagnostic characters for Batrachophrynus and Telmatobius, and ...
Letsch, Harald; Gottsberger, Brigitte; Ware, Jessica L
Ecological diversification of aquatic insects has long been suspected to have been driven by differences in freshwater habitats, which can be classified into flowing (lotic) waters and standing (lentic) waters. The contrasting characteristics of lotic and lentic freshwater systems imply different ecological constraints on their inhabitants. The ephemeral and discontinuous character of most lentic water bodies may encourage dispersal by lentic species in turn reducing geographical isolation among populations. Hence, speciation probability would be lower in lentic species. Here, we assess the impact of habitat use on diversification patterns in dragonflies (Anisoptera: Odonata). Based on the eight nuclear and mitochondrial genes, we inferred species diversification with a model-based evolutionary framework, to account for rate variation through time and among lineages and to estimate the impact of larval habitat on the potentially nonrandom diversification among anisopteran groups. Ancestral state reconstruction revealed lotic fresh water systems as their original primary habitat, while lentic waters have been colonized independently in Aeshnidae, Corduliidae and Libellulidae. Furthermore, our results indicate a positive correlation of speciation and lentic habitat colonization by dragonflies: speciation rates increased in lentic Aeshnidae and Libellulidae, whereas they remain mostly uniform among lotic groups. This contradicts the hypothesis of inherently lower speciation in lentic groups and suggests species with larger ranges are more likely to diversify, perhaps due to higher probability of larger areas being dissected by geographical barriers. Furthermore, larger range sizes may comprise more habitat types, which could also promote speciation by providing additional niches, allowing the coexistence of emerging species. PMID:26833882
at least twice in the group. Furthermore, species found to the east and west of the Andes (cis-Andean and trans-Andean, respectively are not reciprocally monophyletic, nor are forest and non-forest species. Conclusion The polyphyly of Leucopternis, Buteogallus and Buteo establishes a lack of concordance of current Accipitridae taxonomy with the mtDNA phylogeny for the group, and points to the need for further phylogenetic analysis at all taxonomic levels in the family as also suggested by other recent analyses. Habitat shifts, as well as cis- and trans-Andean disjunctions, took place more than once during buteonine diversification in the Neotropical region. Overemphasis of the black and white plumage patterns has led to questionable conclusions regarding the relationships of Leucopternis species, and suggests more generally that plumage characters should be used with considerable caution in the taxonomic evaluation of the Accipitridae.
Ralitza Dimova; Kunal Sen
What drives income diversification among rural households in developing countries? A large literature has examined whether household income diversification is a means of survival or a means of accumulation, which has so far remained inconclusive. This paper attempts to evaluate which explanation of household income diversification – diversification as survival or diversification as accumulation – stands up to empirical scrutiny. We use household panel data from Tanzania of approximately 800 h...
Full Text Available In the face of global economic problems European (and not only European universities are forced to diversify their income. The constant and stable stream of governmental funds for education is beginning to dry up. For the majority of Polish universities the main and noticeably dominant source of income are the revenues from teaching activity. Thus the current diversification of universities’ revenues appears to be just a fiction. The situation is even worse because of both the global economic crisis and the imminent decrease in the birth rate. Polish universities should follow funding models of foreign leaders, who successfully deal with diversification of their revenues. Obviously we cannot compare such universities as Harvard or Oxford with Polish universities, but some of their solutions are worth following. Only by diversifying sources of their revenues will Polish universities be able to compete with the foreign leaders and secure a stable basis for development and use of their potential.
Zhou Q; Lambert JH; Karvetski CW; Keisler JM; Linkov I
Recent catastrophic losses because of floods require developing resilient approaches to flood risk protection. This article assesses how diversification of a system of coastal protections might decrease the probabilities of extreme flood losses. The study compares the performance of portfolios each consisting of four types of flood protection assets in a large region of dike rings. A parametric analysis suggests conditions in which diversifications of the types of included flood protection assets decrease extreme flood losses. Increased return periods of extreme losses are associated with portfolios where the asset types have low correlations of economic risk. The effort highlights the importance of understanding correlations across asset types in planning for large-scale flood protection. It allows explicit integration of climate change scenarios in developing flood mitigation strategy.
Alok Kumar; William N. Goetzmann
In this paper, we examine if the diversification decisions of individual investors influence asset prices. First, we show that a vast majority of individual investors in our sample are under-diversified and the unexpectedly high idiosyncratic risk in their portfolios results in a welfare loss - the least diversified group of investors earn 2.40% lower return annually than the most diversified group of investors on a risk-adjusted basis. Next, we examine the determinants of investors' under-di...
Emil E. Malizia; Robert A. Simons
Considerable recent attention has been devoted to constructing improved spatial diversification categories based on the economic characteristics of areas. This research compares Salomon Brothers' regional classification system to U.S. regions and the FRC regions using economic indicators related to real estate demand. Salomon's classification is shown to be the superior classification for reducing the variation of demand-side indicators. Several of Salomon's regions have higher internal varia...
Julia J Day
Full Text Available BACKGROUND: Understanding the causes of disparities in species diversity across taxonomic groups and regions is a fundamental aim in evolutionary biology. Addressing these questions is difficult because of the need for densely sampled phylogenies and suitable empirical systems. METHODOLOGY/PRINCIPAL FINDINGS: Here we investigate the cichlid fish radiation of Lake Tanganyika and show that per lineage diversification rates have been more than six times slower than in the species flocks of Lakes Victoria and Malawi. The result holds even at peak periods of diversification in Lake Tanganyika, ruling out the age of the lake as an explanation for slow average rates, and is robust to uncertainties over the calibration of cichlid radiations in geological time. Moreover, Lake Tanganyika lineages, irrespective of different biological characteristics (e.g. sexually dichromatic versus sexually monochromatic clades, have diversified at similar rates, falling within typical estimates across a range of plant and animal clades. For example, the mostly sexually dichromatic haplochromines, which have speciated explosively in Lakes Victoria and Malawi, have displayed modest rates in Lake Tanganyika (where they are called Tropheini. CONCLUSION/SIGNIFICANCE: Our results show that either the Lake Tanganyika environment is less conducive for cichlid speciation or the remarkable diversifying abilities of the haplochromines were inhibited by the prior occupancy of older radiations. Although the results indicate a dominant role for the environment in shaping cichlid diversification, differences in the timing of diversification among the Tanganyikan tribes indicate that biological differences were still important for the dynamics of species build-up in the lake. While we cannot resolve the timing of the radiation relative to the origin of the lake, because of the lack of robust geological date calibrations for cichlids, our results are consistent with a scenario that the
Given the tendency of the oil sector to appreciate the equilibrium real exchange rate (RER) in Algeria, trade liberalization with its depreciating impact on the RER is important for diversification of exports. This paper shows that reduction in trade protection would depreciate the RER in Algeria, which in turn would improve competitiveness of, and incentives to invest in, non-oil exports. The paper then discusses existing levels of protection in Algeria and directions for reform.
International portfolio diversification benefits between US stock markets and corresponding markets in Turkey and Egypt are examined from a short- and long-term perspective. The Johansen cointegration procedure reveals cointegration at the general index level related to some but not all sub-indexes investigated. Granger causality indicates, in general, causality running between USA and Turkey but only isolated cases involving Egypt. Overall, the results suggest that US investors can obtain di...
In this paper, we focus on the tails of the unconditional distribution of latin American emerging markets stock returns. We explore their implications for portfolio diversification according to the safety first principle, first proposed by Roy (1952). We find that the Latin American emerging markets have significantly fatter tails than industrial markets, especially, the lower tail of the distribution. We consider the implication of the safety first principle for a U.S. investor who creates a...
Hansen-Tangen, Nicoline Heier; Overaae, Mats
During the last decade commodities have increased in popularity as an alternative asset class. Previous research reports the diversification benefits when adding individual commodity indices or futures to a traditional portfolio of stocks and bonds, due to low correlation to traditional asset classes. Hence, a major motive of commodity investments is to increase the performance of the portfolio. More recent research report that commodities have been financialized and that the benefits of addi...
Hedges, S Blair; Marin, Julie; Suleski, Michael; Paymer, Madeline; Kumar, Sudhir
Genomic data are rapidly resolving the tree of living species calibrated to time, the timetree of life, which will provide a framework for research in diverse fields of science. Previous analyses of taxonomically restricted timetrees have found a decline in the rate of diversification in many groups of organisms, often attributed to ecological interactions among species. Here we have synthesized a global timetree of life from 2,274 studies representing 50,632 species and examined the pattern ...
Andrzej Rozmus; Karolina Cyran
In the face of global economic problems European (and not only European) universities are forced to diversify their income. The constant and stable stream of governmental funds for education is beginning to dry up. For the majority of Polish universities the main and noticeably dominant source of income are the revenues from teaching activity. Thus the current diversification of universities’ revenues appears to be just a fiction. The situation is even worse because of both the global economi...
El. Thalassinos; Th. Kiriazidis
This paper focuses on measuring the degrees of market integration (or segmentation) providing a tool for country selection in international portfolio diversification. It develops methodology measuring effective systemic risk as a proxy of market integration (or segmentation) and therefore allows for appropriate country selection in the better-performing stock markets of the world. The empirical evidence is used to clarify the conclusions about internationally integrated versus segmented marke...
Panero, Jose L; Crozier, Bonnie S
Spatial and temporal differences in ecological opportunity can result in disparity of net species diversification rates and consequently uneven distribution of taxon richness across the tree of life. The largest eudicotyledonous plant family Asteraceae has a global distribution and at least 460 times more species than its South American endemic sister family Calyceraceae. In this study, diversification rate dynamics across Asteraceae are examined in light of the several hypothesized causes for the family's evolutionary success that could be responsible for rate change. The innovations of racemose capitulum and pappus, and a whole genome duplication event occurred near the origin of the family, yet we found the basal lineages of Asteraceae that evolved in South America share background diversification rates with Calyceraceae and their Australasian sister Goodeniaceae. Instead we found diversification rates increased gradually from the origin of Asteraceae approximately 69.5Ma in the late Cretaceous through the Early Eocene Climatic Optimum at least. In contrast to earlier studies, significant rate shifts were not strongly correlated with intercontinental dispersals or polyploidization. The difference is due primarily to sampling more backbone nodes, as well as calibrations placed internally in Asteraceae that resulted in earlier divergence times than those found in most previous relaxed clock studies. Two clades identified as having transformed rate processes are the Vernonioid Clade and a clade within the Heliantheae alliance characterized by phytomelanic fruit (PF Clade) that represents an American radiation. In Africa, subfamilies Carduoideae, Pertyoideae, Gymnarrhenoideae, Cichorioideae, Corymbioideae, and Asteroideae diverged in a relatively short span of only 6.5millionyears during the Middle Eocene. PMID:26979262
Ben Gamra, Saoussen; Plihon, Dominique
Shaped by structural forces of change, banking in emerging markets has recently experienced a decline in its traditional activities, leading banks to diversify into new business strategies. This paper examines whether the observed shift into non-interest based activities improves financial performance. Using a sample of 714 banks across 14 East-Asian and Latin-American countries over the post 1997-crisis changing structure, we find that diversification gains are more than offset by the cost o...
We study the impact of collateral diversification by non-financial firms on systemic risk in a general equilibrium model with standard production functions and mixed debt-equity financing. Systemic risk comes about as soon as firms diversify their collateral by holding claims on a big wholesale bank (called merchant bank in the paper) whose asset side includes claims on the same producer set. The merchant bank sector proves to be fragile (has a short distance to default) regardless of competi...
Matthias Degen; Dominik D. Lambrigger; Johan Segers
The quantification of diversification benefits due to risk aggregation plays a prominent role in the (regulatory) capital management of large firms within the financial industry. However, the complexity of today's risk landscape makes a quantifiable reduction of risk concentration a challenging task. In the present paper we discuss some of the issues that may arise. The theory of second-order regular variation and second-order subexponentiality provides the ideal methodological framework to d...
Portfolio risk is in an important way driven by 'abnormal' returns emanating from heavy tailed distributed asset returns. The theory of regular variation and extreme values provides a model for this feature of financial data. We first review this theory and subsequently study the problem of portfolio diversification in particular. We show that if the portfolio asset return distributions are regulary varying at infinity, then Feller's convolution theorem implies that the portfolio diversificat...
Jean-Claude Cosset; Jean-Marc Suret
This paper examines the benefits of portfolio investment in the stock markets of politically risky countries by evaluating the effects of political risk constraints on the performance of a portfolio of international stocks. We use monthly data on political risk ratings and stock returns for a sample of thirty-six countries from April 1982 to December 1991. Ex-post and ex-ante portfolio selection strategies are developed to assess the gains from international diversification. Efficient sets ar...
Bekkum, Sjoerd; Pennings, Enrico; Smit, Han
textabstractThis paper shows that the conditionality of investment decisions in R&D has a critical impact on portfolio risk, and implies that traditional diversification strategies should be reevaluated when a portfolio is constructed. Real option theory argues that research projects have conditional or option-like risk and return properties, and are different from unconditional projects. Although the risk of a portfolio always depends on the correlation between projects, a portfolio of condi...
This paper features an analysis of the effectiveness of a range of portfolio diversification strategies as applied to a set of daily arithmetically compounded returns on a set of ten market indices representing the major European markets for a nine year period from the beginning of 2005 to the end of 2013. The sample period, which incorporates the periods of both the Global Financial Crisis (GFC) and subsequent European Debt Crisis (EDC), is challenging one for the application of portfolio in...
Woodard, J.D.; Egelkraut, T.M.; Garcia, P.; Pennings, J.M.E.
Portfolio Diversification with Commodity Futures: Properties of Levered Futures This study extends previous work on the impact of commodity futures on portfolio performance by explicitly incorporating levered futures into the portfolio optimization problem. Using data on nine individual commodity futures and one aggregate index from 1994-2003, we find that collateralized and levered futures strategies perform similarly in an ex-post context. Significant differences between the approaches emer...
Arouri, Mohamed El Hedi
In this article, we extend the conditional ICAPM of De Santis and Gérard (1997,1998) using an asymmetric multivariate GARCH specification. This approach, with double asymmetric effects, allows to the risk premia, betas and correlations to vary through time. Then, we investigate ex ante benefits from world market diversification. The evidence supports the financial integration hypothesis and suggests that investors from all countries could expect statistically significant benefits from interna...
Matus Medo; Chi Ho Yeung; Yi-Cheng Zhang
When assets are correlated, benefits of investment diversification are reduced. To measure the influence of correlations on investment performance, a new quantity - the effective portfolio size - is proposed and investigated in both artificial and real situations. We show that in most cases, the effective portfolio size is much smaller than the actual number of assets in the portfolio and that it lowers even further during financial crises.
Hyung, Namwon; Vries, Casper
textabstractPortfolio risk is in an important way driven by 'abnormal' returns emanating from heavy tailed distributed asset returns. The theory of regular variation and extreme values provides a model for this feature of financial data. We first review this theory and subsequently study the problem of portfolio diversification in particular. We show that if the portfolio asset return distributions are regulary varying at infinity, then Feller's convolution theorem implies that the portfolio ...
Wu, Jin-Wen; Hu, Chao-Yue; Shahid, Muhammad Qasim; Guo, Hai-Bin; Zeng, Yu-Xiang; Liu, Xiang-Dong; Lu, Yong-Gen
Polyploidization has played an important role in plant evolution and is a pathway for plants to increase genetic diversification and to get higher heterosis comparing with that of diploid does. This study was undertaken to assess the genetic variation and relationships among 40 autotetraploid rice genotypes and their counterpart diploid cultivars with 99 SSR markers screened from published rice genome. The 99 SSR markers detected polymorphism among autotetraploid genotypes and revealed a tota...
Faccio, Mara, Marchica, Maria-Teresa, and Mura, Roberto; Marchica, Maria-Teresa; Mura, Roberto
Using new data for the universe of firms covered in Amadeus, we reconstruct the equity portfolios of shareholders who hold equity stakes in private and publicly-traded European firms. We find great heterogeneity in the degree of portfolio diversification across large shareholders. Exploiting this heterogeneity, we document that firms controlled by diversified large shareholders undertake riskier investments than firms controlled by non-diversified large shareholders. The impact of large share...
Acemoglu, Daron; Zilibotti, Fabrizio
This paper offers a theory of development which links the degree of market incompleteness to capital accumulation and growth. At early stages of development, the presence of indivisible projects limits the degree of risk-spreading (diversification) that the economy can achieve. The desire to avoid highly risky investments slows down capital accumulation and the inability to diversify idiosyncratic risks introduces high uncertainty in the growth process. The typical development pattern will co...
In this paper, we study the aggregated risk from dependent risk factors under the multivariate Extreme Value theory (EVT) framework. We consider the heavy-tailness of the risk factors as well a non-parametric tail dependence structure. This allows a large scope of models on the dependency. We assess the Value-at-Risk of a diversified portfolio constructed from dependent risk factors. Moreover, we examine the diversification effects under this setup.
Paolo Tasca; Pavlin Mavrodiev; Frank Schweitzer
Excessive leverage, i.e. the abuse of debt financing, is considered one of the Â primary factors in the default of financial institutions. Systemic risk results from correlations between individual default probabilities that cannot be considered independent. Based on the structural framework by Merton (1974), we discuss a model in which these Â correlations arise from overlaps in banks' portfolios. Portfolio Â diversification is used as a strategy to mitigate losses from investments in risky ...
Ron Bird; Mark Tippett
A number of authors have used the portfolio standard deviation to model the risk reduction advantages of naive diversification. Other authors have pointed out that when risk is modelled by the portfolio's variance the modelling process becomes much simpler and is computationally more efficient. In this note we derive an exact parametric relationship between portfolio standard deviation and size and thus highlight the dangers of using the standard deviation in conjunction with O.L.S. regressio...
Empirical research has shown tremendous productivity differences, even within narrowly defined industries. A great host of studies is explainsing this productivity disparity by factors such as idiosyncratic technology shocks, input price differences, management skills, or international trade. Although these explanations are undoubtedly important, the current paper suggests that product diversification strategies of firms can also play an important role. Using a matched producer-product panel ...
Onder, Ali Sina; Yilmazkuday, Hakan
We use network centrality measures to capture the trade partner diversification (TPD) of countries as revealed by their position in the international trade network. These measures are shown to enter long-run growth regressions positively and significantly, on top of trade openness and other control variables. Historical evidence based on threshold analyses shows that countries can use their trade networks to compensate for their low levels of financial depth, high levels of inflation, and low...
Stefania Garetto; Lindsay Oldenski; Jose Fillat
This paper investigates theoretically and empirically the relationship between the geographic structure of a multinational corporation and its stock market returns. We use a structural model to identify two main channels through which the fact of being a multinational firm affects returns. On the one hand, multinational activity offers diversification potential. On the other hand, there is cash flow risk arising from hysteresis and potential losses induced by sunk entry costs and fixed costs....
Fillat, Jose L.; STEFANIA GARETTO; Lindsay Oldenski
We investigate theoretically and empirically the relationship between the geographic structure of a multinational corporation and its risk premium. Our structural model suggests two channels. On the one hand, multinational activity offers diversification benefits: risk premia should be higher for firms operating in countries where shocks covary more with the domestic ones. Second, hysteresis and potential losses induced by fixed and sunk costs of production imply that risk premia should be hi...
The changes that are being brought in the forms of organization of the power industry lead to a global restructuring of the industry. Traditional players are forced to redefine their strategies concerning vertical and horizontal integration and also diversification. They tend to internationalize their business but they are facing aggressive new-comers. The future structure of the industry is not yet determined but there will be a great number of very different corporate players. (authors). 1 fig
Boutanaev, Alexander M.; Moses, Tessa; Zi, Jiachen; Nelson, David R.; Mugford, Sam T.; Peters, Reuben J.; Osbourn, Anne
The terpenes are the largest class of plant natural products. This major class of compounds represents tremendous chemical diversity of which only a relatively small fraction has so far been accessed and used by industry. The primary drivers of terpene diversification are terpenoid synthases and cytochromes P450, which synthesize and modify terpene scaffolds. Here, focusing on these two gene families, we investigate terpene synthesis and evolution across 17 sequenced plant genomes. Our analys...
Zeilinger, Gerold; Kober, Florian; Hippe, Kristina; Lendzioch, Theodora; Grischott, Reto; Pillco Zolá, Ramiro; Christl, Markus
Effects of a positive feedback loop between erosion and tectonics have been shown by analogue and numerical models and have been inferred from field observations at the scale of mountain ranges. We present new data from the Bolivian Andes supporting these observations, although common geomorphic parameters do not indicate a simple correlation. The upper Rio Grande segment, located between Cochabamba, Santa Cruz and Sucre, drains a major catchment in the central Bolivian Cordillera, from the Eastern Cordillera (EC) in the W, through the Interandean Zone (IAZ) and the Subandes (SA) in the E. The catchment covers an area of 58939 km² with an altitude range from 400 to 5150 m above sea level. Geologically, the Bolivian Andes comprise (from W to E) the Altiplano, the EC, the IAZ and the SA fold and thrust belts. The Altiplano represents an almost perfectly closed basin with distinct barriers defined by the Western Cordillera and Eastern Cordillera. The Rio Grande does not reach the Altiplano (unlike Rio La Paz and Rio Consata) but has its western drainage divide along the high peaks of the EC that experienced a period of intense shortening between Late Oligocene and Miocene. Near Cochabamba, the EC comprises metasedimentary siliciclastic rocks of Ordovician age. These rocks are overlain by Cretaceous to Paleocene and / or Neogene sediments with an angular unconformity. The IAZ and SA form an east-vergent fold and thrust belt and comprise Paleozoic and Mesozoic units. Farther east, the structures of the SA progressively include Neogene foreland strata of the Chaco foreland basin. The Chaco basin rests on the Brazilian shield east of the Subandean Belt and forms the modern foreland basin, where the lower Rio Grande catchment is sited. We obtained 58 cosmogenic 10Be catchment wide denudation rates for the Rio Grande catchments upstream of Abapó. They range from 7 mm/kyr to 1550 mm/kyr thus integrating at maximum over the last 10.000 years, with a mean of 262 mm/kyr. In
Price, Shauna L; Etienne, Rampal S; Powell, Scott
Adaptive diversification is thought to be shaped by ecological opportunity. A prediction of this ecological process of diversification is that it should result in congruent bursts of lineage and phenotypic diversification, but few studies have found this expected association. Here, we study the relationship between rates of lineage diversification and body size evolution in the turtle ants, a diverse Neotropical clade. Using a near complete, time-calibrated phylogeny we investigated lineage diversification dynamics and body size disparity through model fitting analyses and estimation of per-lineage rates of cladogenesis and phenotypic evolution. We identify an exceptionally high degree of congruence between the high rates of lineage and body size diversification in a young clade undergoing renewed diversification in the ecologically distinct Chacoan biogeographical region of South America. It is likely that the region presented turtle ants with novel ecological opportunity, which facilitated a nested burst of diversification and phenotypic evolution within the group. Our results provide a compelling quantitative example of tight congruence between rates of lineage and phenotypic diversification, meeting the key predicted pattern of adaptive diversification shaped by ecological opportunity. PMID:26935139
Ebel, Emily R; DaCosta, Jeffrey M; Sorenson, Michael D; Hill, Ryan I; Briscoe, Adriana D; Willmott, Keith R; Mullen, Sean P
Rapid diversification is often associated with morphological or ecological adaptations that allow organisms to radiate into novel niches. Neotropical Adelpha butterflies, which comprise over 200 species and subspecies, are characterized by extraordinary breadth in host plant use and wing colour patterns compared to their closest relatives. To examine the relationship between phenotypic and species diversification, we reconstructed the phylogenetic history of Adelpha and its temperate sister genus Limenitis using genomewide restriction-site-associated DNA (RAD) sequencing. Despite a declining fraction of shared markers with increasing evolutionary distance, the RAD-Seq data consistently generated well-supported trees using a variety of phylogenetic methods. These well-resolved phylogenies allow the identification of an ecologically important relationship with a toxic host plant family, as well as the confirmation of widespread, convergent wing pattern mimicry throughout the genus. Taken together, our results support the hypothesis that evolutionary innovations in both larvae and adults have permitted the colonization of novel host plants and fuelled adaptive diversification within this large butterfly radiation. PMID:25809206
Borodin, Allan; Ye, Yuli
Result diversification has many important applications in databases, operations research, information retrieval, and finance. In this paper, we study and extend a particular version of result diversification, known as max-sum diversification. More specifically, we consider the setting where we are given a set of elements in a metric space and a set valuation function $f$ defined on every subset. For any given subset $S$, the overall objective is a linear combination of $f(S)$ and the sum of the distances induced by $S$. The goal is to find a subset $S$ satisfying some constraints that maximizes the overall objective. This problem is first studied by Gollapudi and Sharma for modular set functions and for sets satisfying a cardinality constraint. We consider an extension of the modular case to the monotone submodular case, for which the previous algorithm no longer applies. Interestingly, we are able to match the 2-approximation using a natural, but different greedy algorithm. We then further extend the problem...
Yuan, X.; Sobolev, S. V.; Kind, R.
P-to-S converted waves at the continental Moho together with waves multiply reflected between the Earth's surface and the Moho have been used to estimate the Moho depth and average crustal Vp/ Vs variations in the central Andes. Our analysis confirms and significantly complements the Moho depth estimates previously obtained from wide-angle seismic studies and receiver functions. The resulting crustal thickness varies from about 35 km in the forearc region to more than 70 km beneath the plateau and thins (30 km) further to the east in the Chaco plains. Beneath the Andean plateau, the Moho is deeper in the north (Altiplano) and shallower in the south (Puna), where the plateau attains its maximum elevation. A non-linear relation exists between crustal thickness and elevation (and Bouguer gravity), suggesting that the crust shallower than 50-55 km is predominately felsic in contrast to a predominately mafic crust below. Such a relation also implies a 100 km thick thermal lithosphere beneath the Altiplano and with a lithospheric thinning of a few tens of kilometers beneath the Puna. Absence of expected increase in lithospheric thickness in regions of almost doubled crust strongly suggests partial removal of the mantle lithosphere beneath the entire plateau. In the Subandean ranges at 19-20°S, the relation between altitude and crustal thickness indicates a thick lithosphere (up to 130-150 km) and lithospheric flexure. Beneath a relative topographic low at the Salar de Atacama, a thick crust (67 km) suggests that the lithosphere in this region is abnormally cold and dynamically subsided, possibly due to coupling with the subducting plate. This may be related to the strongest (Ms=8.0) known intra-slab earthquake in the central Andes that happened very close to this region in 1950. The average crustal Vp/ Vs ratio is about 1.77 for the Altiplano-Puna and it reaches the highest values (1.80-1.85) beneath the volcanic arc, indicating high ambient crustal temperatures and
Full Text Available Mientras que la colonización agrícola y humana tiene milenios de tradiciones culturales en los Andes tropicales, la agricultura y la superviviencia rural siempre representaban ‘sistemas abiertos’ adaptandose a una gran diversidad de condiciones medioambientales, políticas, culturales, sociales y económicas fluctuando con- tinuamente. Sin embargo, el patrimonio cultural tan variado y rico de los campesinos andinos con sus experiencias y conocimientos en sobrevivir en condiciones locales difíciles y sumamente vulnerables en muchos casos les ayudó a llegar a formas variadas de resistividad y resistencia frente a los estímulos y el estrés internos y externos. Además y dadas las condiciones medio ambientales tan diversas de las regiones andinas con su gran variedad de zonas altitudinales, nichos agrícolas y mosaicos culturales, se ha formado un paisaje rural muy complejo y variado. En este estudio se reconocen y se apoyan las identidades locales y regionales de las formas del uso de las tierras rurales y de las actividades agrícolas, además se examinan los impactos de las influencias supra-regionales y globales que determinan las condiciones climáticas, políticas, económicas y socio-culturales. De esta manera, una alta variabilidad y una baja predictabilidad de las condiciones andinas medioambientales y del desarrollo socio-económico forman los argumentos básicos en este estudio. Se rechaza la validez de un modelo universal del uso de las tierras agrícolas en los Andes así como una exposición inevitable de la agricultura montañesa frente a los riesgos de las fuerzas y los actores globales. Contrariamente, en el artículo se propone toda una serie de modelos locales y regionales para el uso de las tierras rurales que sean flexibles en relación al espacio y al tiempo tomando en cuenta las condiciones locales persistentes así como las nuevas influencias externas. Como resultado de estas consideraciones parece imprescindible
Raquel Gil Montero
Full Text Available Este trabajo analiza la composición de las milicias regionales que lucharon en la frontera bélica de los Andes Meridionales entre 1810 y 1825. Al interior de las tropas se mantuvo la jererquización y el corporativismo, características propias de la sociedad. Sin embargo, la convivencia y los rigores de la guerra generaron una suerte de "fondo común" con recursos de los grupos socio-étnicos. Entre estos recursos destacamos: la adopción de una organización para la comida basada en el abastecimiento realizado por las mujeres de los soldados; la aceptación de "licencias compulsivas"; o el nombramiento de líderes militares que no eran "bien nacidos". Además se aceptaban prácticas de matar propias de cada grupo y se los distinguía por las armas utilizadas. Estas costumbres compartidas no fueron iguales en todo espacio o tiempo pues dependieron de los elementos originales que se fundieron en la palestra y del contexto que les dio forma.This article analyses the composition of regional militias that participated in the frontier war fought in Southern Andes (1810-1825. It focuses on the relations militiamen established among themselves in a war context. It could be observed that hierarchical and corporative behavior, aspect found in society, was maintained within the troops. However, the act of living together and the severity of war resulted in a kind of pool of different practices belonging to each social-ethnic group. Among these shared practices we highlight: the way officers accepted the food preparation done by the soldiers' women, "compulsive leaves", and the designation of militia leaders who were not patrician. Moreover each group's killing practices were accepted and their weapons distinguished them. But shared practices were not constant through space and time since they depended upon original elements militiamen brought with them to the battlefield and on the context shaping them.
De Maayer Pieter
Full Text Available Abstract Background Pantoea spp. are frequently isolated from a wide range of ecological niches and have various biological roles, as plant epi- or endophytes, biocontrol agents, plant-growth promoters or as pathogens of both plant and animal hosts. This suggests that members of this genus have undergone extensive genotypic diversification. One means by which this occurs among bacteria is through the acquisition and maintenance of plasmids. Here, we have analyzed and compared the sequences of a large plasmid common to all sequenced Pantoea spp. Results and discussion The Large PantoeaPlasmids (LPP-1 of twenty strains encompassing seven different Pantoea species, including pathogens and endo-/epiphytes of a wide range of plant hosts as well as insect-associated strains, were compared. The LPP-1 plasmid sequences range in size from ~281 to 794 kb and carry between 238 and 750 protein coding sequences (CDS. A core set of 46 proteins, encompassing 2.2% of the total pan-plasmid (2,095 CDS, conserved among all LPP-1 plasmid sequences, includes those required for thiamine and pigment biosynthesis. Phylogenetic analysis reveals that these plasmids have arisen from an ancestral plasmid, which has undergone extensive diversification. Analysis of the proteins encoded on LPP-1 also showed that these plasmids contribute to a wide range of Pantoea phenotypes, including the transport and catabolism of various substrates, inorganic ion assimilation, resistance to antibiotics and heavy metals, colonization and persistence in the host and environment, pathogenesis and antibiosis. Conclusions LPP-1 is universal to all Pantoea spp. whose genomes have been sequenced to date and is derived from an ancestral plasmid. LPP-1 encodes a large array of proteins that have played a major role in the adaptation of the different Pantoea spp. to their various ecological niches and their specialization as pathogens, biocontrol agents or benign saprophytes found in many diverse
Juan S Lugo
Full Text Available The MHC class I (MHC-I region in New World monkeys (Platyrrhini has remained relatively understudied. To evaluate the diversification patterns and transcription behavior of MHC-I in Platyrrhini, we first analyzed public genomic sequences from the MHC-G-like subregion in Saimiri boliviensis, Ateles geoffroyi and Callicebus moloch, and from the MHC-B subregion in Saimiri boliviensis. While S. boliviensis showed multiple copies of both MHC-G-like (10 and -B (15 loci, A. geoffroyi and C. moloch had only three and four MHC-G-like genes, respectively, indicating that not all Platyrrhini species have expanded their MHC-I loci. We then sequenced MHC-G-like and -B cDNAs from nine Platyrrhini species, recovering two to five unique cDNAs per individual for both loci classes. In two Saguinus species, however, no MHC-B cDNAs were found. In phylogenetic trees, MHC-G-like cDNAs formed genus-specific clusters whereas the MHC-B cDNAs grouped by Platyrrhini families, suggesting a more rapid diversification of the former. Furthermore, cDNA sequencing in 12 capuchin monkeys showed that they transcribe at least four MHC-G-like and five MHC-B polymorphic genes, showing haplotypic diversity for gene copy number and signatures of positive natural selection at the peptide binding region. Finally, a quantitative index for MHC:KIR affinity was proposed and tested to predict putative interacting pairs. Altogether, our data indicate that i MHC-I genes has expanded differentially among Platyrrhini species, ii Callitrichinae (tamarins and marmosets MHC-B loci have limited or tissue-specific expression, iii MHC-G-like genes have diversified more rapidly than MHC-B genes, and iv the MHC-I diversity is generated mainly by genetic polymorphism and gene copy number variation, likely promoted by natural selection for ligand binding.
Giulia F. Curatola Fernández
Full Text Available In the megadiverse tropical mountain forest in the Andes of southern Ecuador, a global biodiversity hotspot, the use of fire to clear land for cattle ranching is leading to the invasion of an aggressive weed, the bracken fern, which is threatening diversity and the provisioning of ecosystem services. To find sustainable land use options adapted to the local situation, a profound knowledge of the long-term spatiotemporal patterns of land cover change and its drivers is necessary, but hitherto lacking. The complex topography and the high cloud frequency make the use of remote sensing in this area a challenge. To deal with these conditions, we pursued specific pre-processing steps before classifying five Landsat scenes from 1975 to 2001. Then, we quantified land cover changes and habitat fragmentation, and we investigated landscape changes in relation to key spatial elements (altitude, slope, and distance from roads. Good classification results were obtained with overall accuracies ranging from 94.5% to 98.5% and Kappa statistics between 0.75 and 0.98. Forest was strongly fragmented due to the rapid expansion of the arable frontier and the even more rapid invasion by bracken. Unexpectedly, more bracken-infested areas were converted to pastures than vice versa, a practice that could alleviate pressure on forests if promoted. Road proximity was the most important spatial element determining forest loss, while for bracken the altitudinal range conditioned the degree of invasion in deforested areas. The annual deforestation rate changed notably between periods: ~1.5% from 1975 to 1987, ~0.8% from 1987 to 2000, and finally a very high rate of ~7.5% between 2000 and 2001. We explained these inconstant rates through some specific interrelated local and national political and socioeconomic drivers, namely land use policies, credit and tenure incentives, demography, and in particular, a severe national economic and bank crisis.
Laumonier, Mickael; Gaillard, Fabrice; Muir, Duncan; Blundy, Jon; Unsworth, Martyn
Volcanism at continental arcs is the surface manifestation of long-lived crustal magmatic processes whereby mantle-derived hydrous basalt magma differentiates to more silica-rich magmas by a combination of crystallization and crustal melting. What erupts is just a fraction of the total volume of magma produced by these processes; the unerupted, plutonic residues solidify and are inaccessible to direct study until millions of years of uplift and erosion bring them to the surface. In contrast, geophysical surveys, using electromagnetic and seismic waves, can provide real-time images of subduction zone magmatic systems. Several such studies have revealed that arc volcanoes are underlain by large partially molten regions at depths of >10 km, the largest known example being the Altiplano-Puna magma body (APMB) in central Andes. Interpreting such geophysical images in terms of amount, composition and distribution of partial melts is limited by our lack of knowledge of the physical properties of silicate melts at elevated pressures and temperatures. Here we present high-pressure, in situ experimental data showing that the electrical conductivity of andesitic melts is primarily controlled by their dissolved water contents. Linking our new measurements to petrological constraints from andesites erupted on the Altiplano, we show that the APMB is composed of 10-20% of an andesitic melt containing 8-10 wt% dissolved water. This implies that the APMB is a giant water anomaly in the global subduction system, with a total mass of dissolved magmatic water about half of the water contained within the Adriatic Sea. In addition to the controls on the physical properties of the melts, the abundance of dissolved water governs the structural levels of magma ponding, equivalent to the depth of water saturation, where degassing and crystallisation promote partial melting and weakening of the upper crust. Unexpectedly, very high concentrations of water in andesite magmas shall impede their
Liu, Alan Z.; Snively, Jonathan; Heale, Christopher; Cao, Bing
The Andes Lidar Observatory is an upper atmosphere observatory located in Cerro Pachón, Chile (30.3S, 70.7W). It houses a Na Wind/Temperature Lidar, an all sky airglow imager, a mesospheric temperature mapper, an infrared imager and a meteor radar. This suite of instrumentation provides comprehensive measurements of the mesopause region and enables detailed study of wave dynamics. With the recent upgrade of the Na lidar, many complex dynamic processes were observed and resolved in detail. I will present several intriguing phenomena seen in the lidar measurement from recent campaigns, and a detailed analysis of a complex wave propagation event, which involved a large vertical wind oscillation exceeding 10 m/s. A nonlinear gravity wave model was able to reproduce most of the observed features. The results suggest that the wave experienced partial reflections at two altitudes and a critical layer in between, resulting in large vertical wind amplitude and multi-layer distribution of wave energy.
Veloza-Fajardo, G.; Taylor, M. H.; Mora, A.; Stockli, D. F.
We integrate neotectonic mapping and interpretation of seismic reflection profiles to evaluate the kinematics of folding and development of the Quaternary Tame anticline and Cusiana fault at 6.5 N Latitude in the eastern foothills of the Eastern Cordillera of Colombia. The Tame anticline is located approximately 660 km to the east of the Nazca-South America and 810 km to the south of the Caribbean-South America subduction zones plate boundaries in a retroarc foreland basin setting. The Tame anticline is an elongated, N15E trending structure, 14 km long N-S by 6 km wide E-W, that represents the most frontal active structure of the northern Colombian Andes. The Tame fold is related to the east-directed Cusiana fault that day lights to the south. Seismic reflection profiles indicate the Cusiana fault is a listric, west-dipping blind structure. The east flowing antecedent Macaguana creek has incised the Tame fold forming three prominent terrace levels, uplifted approximately 220, 150 and 100 meters, above current river levels. The surfaces were sampled for terrestrial cosmogenic nuclides using the depth profiling approach to account for inheritance. Surface exposure ages from the highest to lowest surfaces are 93.9, 50.8 and 32.4 kyrs at the 1σ level respectively, which were calculated using Monte Carlo methods. Trishear kinematic modeling was used to retrodeform the folding history and based on the surface abandonment ages, we will present shortening rates at millennial timescales.
Carlos M. Vilas
Full Text Available En 2004, los alcaldes de dos municipalidades de la región aimara de los Andes fueron linchados en la aparente culminación de agudos conflictos políticos internos y entre las respectivas comunidades y el Estado central. En este artículo se discuten ambos casos con el fin de ilustrar las transformaciones experimentadas en años recientes en la organización y la dinámica interna de las comunidades andinas, y de la articulación conflictiva de la política local en los procesos e instituciones de más amplio alcance. Precariedad social e incapacidad o renuencia del Estado para responder con eficacia a demandas básicas de determinados grupos de población configuran enmarcamientos socioeconómicos e institucionales de los linchamientos. En contraste con enfoques que enfatizan en factores culturales tradicionales o en un supuesto nacionalismo indígena, en el artículo se destaca la gravitación de fenómenos y procesos político- institucionales recientes en la transformación cultural y política de las comunidades, en el modo en que éstas procesan sus conflictos internos y con el Estado central.In 2004, two municipalitys mayors form the aimara Andes of Peru and Bolivia were subjected to mass lynchings as a result of the apparent culmination of violent political confrontations. This paper deals with these events as dramatic illustrations of the transformations the Andean communities experienced during recent decades in their internal dynamics, as well as in the articulation of local politics to processes and institutions beyond the communal limits. Structural precariousness combined with the state's inability or reluctance to come to terms with social or political demands from relevant segments of the people in the communities set the socioeconomic and institutional stage for lynchings. In contrast with approaches relating these events to an alleged indigenous cultural identity, the analysis points to the impact of the communities' political
We present evidence on one facet of energy security in OECD economies-the extent of diversification in sources of oil and natural gas supplies. Viewed from the perspective of the energy-importing countries as a whole, there has not been much change in diversification in oil supplies over the last decade, but diversification in sources of natural gas supplies has increased steadily. We document the considerable cross-country heterogeneity in the extent of diversification. We also show how the extent of diversification changes if account is taken of the political risk attached to suppliers; the size of the importing country; and transportation risk. - Highlights: → Global diversification is constant but large differences exist among countries. → Political risk and distance have large impacts on diversity measures. → Size has little impact on diversity measures. → France, US, and UK show low vulnerability for both fuels. → Smaller European countries show high vulnerability for both fuels.
Mohr, Karen I.; Slayback, Daniel; Yager, Karina
The central Andes extends from 7 deg to 21 deg S, with its eastern boundary defined by elevation (1000m and greater) and its western boundary by the coastline. The authors used a combination of surface observations, reanalysis, and the University of Utah Tropical Rainfall Measuring Mission (TRMM) precipitation features (PF) database to understand the characteristics of convective systems and associated rainfall in the central Andes during the TRMM era, 1998-2012. Compared to other dry (West Africa), mountainous (Himalayas), and dynamically linked (Amazon) regions in the tropics, the central Andes PF population was distinct from these other regions, with small and weak PFs dominating its cumulative distribution functions and annual rainfall totals. No more than 10% of PFs in the central Andes met any of the thresholds used to identify and define deep convection (minimum IR cloud-top temperatures, minimum 85-GHz brightness temperature, maximum height of the 40-dBZ echo). For most of the PFs, available moisture was limited (less than 35mm) and instability low (less than 500 J kg(exp -1)). The central Andes represents a largely stable, dry to arid environment, limiting system development and organization. Hence, primarily short-duration events (less than 60 min) characterized by shallow convection and light to light-moderate rainfall rates (0.5-4.0 mm h(exp -1)) were found.
Nejat Capar; Ravi Chinta; Fiona Sussan
Researchers in international business and strategic management have long been interested in understanding international diversification as a strategy to manage and control firm performance risk. The general argument in this research stream has been arguing that international diversification or multinationality serves as a portfolio diversification strategy that can reduce firm performance risk. However, a major shortcoming of existing studies has been the failure of incorporating firm resourc...
D M Hanink; R G Cromley
The purpose of this paper is to demonstrate that the integration of locational considerations into product-diversification planning has the potential of supplying gains to the firm by providing hedges against both product-portfolio and location-portfolio risk. An efficient diversification frontier to region - product strategic planning is generated from hypothetical data for purposes of illustration. Results of the analysis are in agreement with Wahlroos's theory of the diversification of the...
Coad, Alex; Guenther, Christina
We focus on the relationship of age and diversification patterns of German machine tool manufacturers in the post war era. Based on trade journals we track the entire firm populations' product portfolio development throughout each firm's lifetime. We distinguish between 'minor diversification' and 'major diversification', where these two concepts refer to adding a new product variation within a familiar submarket, or expanding the product portfolio into new submarkets. Our analysis reveals fo...
Pesaran, M. Hashem; Schuermann, Til; Treutler, Bjorn-Jakob
In theory the potential for credit risk diversification for banks could be substantial. Portfolio diversification is driven broadly by two characteristics: the degree to which systematic risk factors are correlated with each other and the degree of dependence individual firms have to the different types of risk factors. We propose a model for exploring these dimensions of credit risk diversification: across industry sectors and across different countries or regions. We find that full firm-lev...
Culas, Richard J.; Mahendrarajah, Mahen
Farm planning generally focuses on optimal diversification with respect to risk and uncertainties, where the risk-management strategies combine production, marketing, financial and environmental responses of the production of farm firm. In this study an empirical examination of farm diversification has been carried out from a sample of farms in Eastern Norway in which four measures of diversification (indices) were defined to incorporate the risk and uncertainties in relation to farm producti...
Olale, Edward; Nazli, Hina
Empirical evidence shows that non-farm income diversification is associated with higher welfare among farm households. However, most studies have ignored market barriers and farm income risk in explaining income diversification behaviour. This study develops an analytical framework that includes both market barriers and farm income risk, in addition to other factors, in explaining income diversification behaviour. The analytical framework is used to test the hypotheses that: market barriers r...
Cordero Salas, Paula; Chen, Susan E.
This paper provides evidence of the effect of agricultural diversification and commercialization on the health of preschool children. We use a nationally representative sample of households taken from the Tanzania National Panel Survey (TNPS) to describe the correlations between agricultural diversification and commercialization on child nutrition. We find that engaging in contract farming for producing food crops has a negative effect on both nutritional stunting and wasting. Diversification...
Chen, Susan E.; Salas, Paula Cordero
This paper provides evidence of the effect of agricultural diversification and commercialization on the health of preschool children. We specifically look at the impact of diversification and commercialization on stunting, wasting and underweight by using a nationally representative sample of households taken from the Tanzania National Panel Survey (TNPS). We find that engaging in contract farming for producing food crops has a negative effect on stunting and wasting. Diversification only has...
Guantes, Raúl; Benedetti, Ilaria; Silva-Rocha, Rafael; de Lorenzo, Víctor
Transcriptional noise is a necessary consequence of the molecular events that drive gene expression in prokaryotes. However, some environmental microorganisms that inhabit polluted sites, for example, the m-xylene degrading soil bacterium Pseudomonas putida mt-2 seem to have co-opted evolutionarily such a noise for deploying a metabolic diversification strategy that allows a cautious exploration of new chemical landscapes. We have examined this phenomenon under the light of deterministic and stochastic models for activation of the main promoter of the master m-xylene responsive promoter of the system (Pu) by its cognate transcriptional factor (XylR). These analyses consider the role of co-factors for Pu activation and determinants of xylR mRNA translation. The model traces the onset and eventual disappearance of the bimodal distribution of Pu activity along time to the growth-phase dependent abundance of XylR itself, that is, very low in exponentially growing cells and high in stationary. This tenet was validated by examining the behaviour of a Pu-GFP fusion in a P. putida strain in which xylR expression was engineered under the control of an IPTG-inducible system. This work shows how a relatively simple regulatory scenario (for example, growth-phase dependent expression of a limiting transcription factor) originates a regime of phenotypic diversity likely to be advantageous in competitive environmental settings. PMID:26636554
Full Text Available Abstract This paper explores the use of the dried meat and feathers of the Andean Flicker (Colaptes rupicola to increase the milk supply of nursing women and domestic animals in the Andes. The treatment is of preColumbian origin, but continues to be used in some areas, including the village in the southern Peruvian highlands where I do ethnographic research. I explore the factors giving rise to and sustaining the practice, relate it to other galactagogues used in the Andes and to the use of birds in ethnomedical and ethnoveterinary treatments in general, and situate it within the general tendency in the Andes and elsewhere to replicate human relations in the treatment of valuable livestock. The bird's use as a galactagogue appears to be motivated by both metaphorical associations and its perceived efficacy, and conceptually blends human and animal healthcare domains.
Full Text Available The availability of nutrients and the quantity and quality of food at the base of food webs have largely been ignored in discussions of the Phanerozoic record of biodiversity. We examine the role of nutrient availability and phytoplankton stoichiometry (the relative proportions of inorganic nutrients to carbon in the diversification of the marine biosphere. Nutrient availability and phytoplankton stoichiometry played a critical role in the initial diversification of the marine biosphere during the Neoproterozoic. Initial biosphere expansion during this time resulted in the massive sequestration of nutrients into biomass which, along with the geologically slow input of nutrients from land, set the stage for severe nutrient limitation and relatively constant marine biodiversity during the rest of the Paleozoic. Given the slow nutrient inputs from land and low recycling rates, the growth of early-to-middle Paleozoic metazoans remained limited by their having to expend energy to first “burn off” (respire excess carbon in food before the associated nutrients could be utilized for growth and reproduction; the relative equilibrium in marine biodiversity during the Paleozoic therefore appears to be real. Limited nutrient availability and the consequent nutrient imbalance may have delayed the appearance of more advanced carnivores until the Permo-Carboniferous, when widespread orogeny, falling sea level, the spread of forests, greater weathering rates, enhanced ocean circulation, oxygenation, and upwelling all combined to increase nutrient availability. During the Meso-Cenozoic, rising oxygen levels, the continued nutrient input from land, and, especially, increasing rates of bioturbation, enhanced nutrient availability, increasing the nutrient content of phytoplankton that fueled the diversification of the Modern Fauna.
Hock-Ann Lee; Kian-Ping Lim; Venus Khim-Sen Liew
This study finds that there is a common force which brings all the five ASEAN stock markets together in the long run by the nonparametric tests. This suggests that shocks from any of these five markets may spillover to the other markets in the same region. The recent Asian financial crisis bears a good testimony to this â€˜contagion effect'. Subsequently, there would be no long run gain from international portfolio diversification. Specifically, investors with long run horizons may not benefi...
Medo, Matúš; Pis'mak, Yury M.; Zhang, Yi-Cheng
Financial markets, with their vast range of different investment opportunities, can be seen as a system of many different simultaneous games with diverse and often unknown levels of risk and reward. We introduce generalizations to the classic Kelly investment game [J.L. Kelly, IEEE Transactions on Information Theory 2 (1956) 185-189] that incorporates these features, and use them to investigate the influence of diversification and limited information on Kelly-optimal portfolios. In particular, we present approximate formulas for optimizing diversified portfolios and exact results for optimal investment in unknown games where the only available information is past outcomes.
Islam, Abu Hena Md Mamnul; Faisal, Md
"It is the part of a wise man to keep himself today for tomorrow, and not venture all his eggs in one basket." - Don Quixote (Part I, Book III, Chapter 9) by Miguel de Cervantes Saavedra [1547-1616] This research aimed to investigate whether it is possible for investors to diversify their investment and reduce the risk of investment by investing in the selected European countries. Stock market cointegration and international diversification is a widely accepted topic ...
Allen, David E; McAleer, Michael; Peiris, Shelton; Singh, Abhay K.
This paper features an analysis of the effectiveness of a range of portfolio diversification strategies as applied to a set of 17 years of monthly hedge fund index returns on a set of ten market indices representing 13 major hedge fund categories, as compiled by the EDHEC Risk Institute. The 17-year period runs from the beginning of 1997 to the end of August 2014. The sample period, which incorporates both the Global Financial Crisis (GFC) and subsequent European Debt Crisis (EDC), is a chall...
We investigate a multi-factor extension of the asymptotic single risk factor (ASRF) model that underlies the capital charges of the "Basel II Accord". In this extended model, it is still possible to derive closed-form solutions for the risk contributions to Value-at-Risk and Expected Shortfall. As an application of the risk contribution formulae we introduce a new concept for a diversification measure. The use of this new measure is illustrated by an example calculated with a two-factor model...
In this master's thesis the market value of diversified firms has been compared to the value of sin-gle-segment firms, in order to find out how different types of diversification affect firm value. The impact of the 2008 financial crisis on the valuation of diversified firms has also been investigated and discussed. The empirical results point out that, between 1997 and 2012, industrially diversified firms have been trading at a premium of 22.5% compared to focused firms, while globally diver...
Jansen, Boris; Cammeraat, Erik
The volcanic ash soils of the Andes contain very large stocks of soil organic matter (SOM) per unit area. Consequently, they constitute significant potential sources or sinks of the greenhouse gas CO2. Climate and/or land use change potentially have a strong effect on these large SOM stocks. To clarify the role of chemical and physical stabilisation mechanisms in volcanic ash soils in the montane tropics, we investigated carbon stocks and stabilization mechanisms in the top- and subsoil along an altitudinal transect in the Ecuadorian Andes. The transect encompassed a sequence of paleosols under forest and grassland (páramo), including a site where vegetation cover changed in the last century. We applied selective extraction techniques, performed X-ray diffraction analyses of the clay fraction and estimated pore size distributions at various depths in the top- and subsoil along the transect. In addition, from several soils the molecular composition of SOM was further characterized with depth in the current soil as well as the entire first and the top of the second paleosol using GC/MS analyses of extractable lipids and Pyrolysis-GC/MS analyses of bulk organic matter. Our results show that organic carbon stocks in the mineral soil under forest a páramo vegetation were roughly twice as large as global averages for volcanic ash soils, regardless of whether the first 30cm, 100cm or 200cm were considered. We found the carbon stabilization mechanisms involved to be: i) direct stabilization of SOM in organo-metallic (Al-OM) complexes; ii) indirect protection of SOM through low soil pH and toxic levels of Al; and iii) physical protection of SOM due to a very high microporosity of the soil (Tonneijck et al., 2010; Jansen et al. 2011). When examining the organic carbon at a molecular level, interestingly we found extensive degradation of lignin in the topsoil while extractable lipids were preferentially preserved in the subsoil (Nierop and Jansen, 2009). Both vegetation
Colonia, Daniel; Haeberli, Wilfried; Torres, Judith; Giraldez, Claudia; Schauwecker, Simone; Santiago, Alexzander; Cochachin, Alejo; Huggel, Christian
Climate change has caused large losses of glacier mass in the Andes of Peru. Also, given the projected changes in climate, based on different IPCC scenarios for 2050 and 2080, simulations with a tropical glacier-climate model indicate that glaciers will continue to retreat. According to the national Peruvian glacier inventories 43% of glacier area has disappeared between 1970 and 2003-2010 in the 19 snowy mountain ranges and a total of 8 355 new lakes have formed in deglaciating terrain. With glacier retreat new lakes form in parts of the glacier tongue where there is an overdeepening, and these lakes can be a source of natural hazards to downstrean populations. Therefore, the identification of possible future lakes is important to plan for preventive measures concerning possible lake outbursts as well as to understand changes in freshwater storage in the corresponding source areas. Modeling of glacier-bed overdeepenings and possible future lakes forming in such topographic depressions when becoming ice-free was done using the SRTM DEM from the year 2000 with a 90 m resolution and the 2003-2010 glacier outlines from the recently published national glacier inventory of Perú. The GIS-based analysis followed three main steps: (1) identification of flat glacier areas with less than 10° surface slope as a first-order spatial approximation to possible occurrences of glacier-bed overdeepenings; (2) application, using Google Earth, of three morphological indications of glacier-bed overdeepenings following Frey et al. (2010): steepening surface slope, onset of crevasse formation, lateral flow-narrowing; and (3) verification of the results from steps (1) and (2) by comparison with GlabTop modeling of bed topographies following Linsbauer et al. (2012) using the SRTM DEM, contour lines and constructed branch lines for all glaciers. A pilot study has already been carried out for the Cordillera Blanca. The results show that 31 major new lakes may form in the future. The total
Guo, Yan-Yan; Luo, Yi-Bo; Liu, Zhong-Jian; Wang, Xiao-Quan
South-East Asia covers four of the world's biodiversity hotspots, showing high species diversity and endemism. Owing to the successive expansion and contraction of distribution and the fragmentation by geographical barriers, the tropical flora greatly diversified in this region during the Tertiary, but the evolutionary tempo and mode of species diversity remain poorly investigated. Paphiopedilum, the largest genus of slipper orchids comprising nearly 100 species, is mainly distributed in South-East Asia, providing an ideal system for exploring how plant species diversity was shaped in this region. Here, we investigated the evolutionary history of this genus with eight cpDNA regions and four low-copy nuclear genes. Discordance between gene trees and network analysis indicates that reticulate evolution occurred in the genus. Ancestral area reconstruction suggests that vicariance and long-distance dispersal together led to its current distribution. Diversification rate variation was detected and strongly correlated with the species diversity in subg. Paphiopedilum (~80 species). The shift of speciation rate in subg. Paphiopedilum was coincident with sea-level fluctuations in the late Cenozoic, which could have provided ecological opportunities for speciation and created bridges or barriers for gene flow. Moreover, some other factors (e.g. sympatric distribution, incomplete reproductive barriers and clonal propagation) might also be advantageous for the formation and reproduction of hybrid species. In conclusion, our study suggests that the interplay of reticulate evolution and sea-level fluctuations has promoted the diversification of the genus Paphiopedilum and sheds light into the evolution of Orchidaceae and the historical processes of plant species diversification in South-East Asia. PMID:25847454
van der Lelij, Roelant; Spikings, Richard; Mora, Andrés
New apatite U-Pb and multiphase 40Ar/39Ar data constrain the high to medium temperature (~ 500 °C-~ 300 °C) thermal histories of igneous and metamorphic rocks exposed in the Mérida Andes of Venezuela, and new apatite and zircon fission track data constrain the ~ 500 °C-~ 60 °C thermal histories of pre-Jurassic igneous and metamorphic rocks of the adjacent Santander Massif of Colombia. Computed thermal history envelopes using apatite U-Pb dates and grain size information from an Early Palaeozoic granodiorite in the Mérida Andes suggest that it cooled from > 500 °C to histories. The generally accepted timing of amalgamation of Pangaea along the Ouachita-Marathon suture pre-dates Late Permian to Triassic cooling recorded in basement rocks of the Mérida Andes by > 30 Ma, and its effect on rocks preserved in north-western South America is unknown. We interpret late Permian to Triassic cooling in the Mérida Andes to be driven by exhumation. Previous studies have suggested that a short phase of shortening and anatexis is recorded at ~ 253 Ma in the Maya Block, which may have been adjacent to the basement rocks of the Mérida Andes in the Late Permian. The coeval onset of exhumation in the Mérida Andes may be a result of increased coupling in the magmatic arc, which was located along the western margin of Pangaea. Triassic extension is documented in the Central Cordillera of Colombia and Ecuador between ~ 240 Ma and ~ 215 Ma, although extension at this time has not been clearly identified in the Mérida Andes or the Santander Massif. Permian to Triassic cooling is not recorded in the structurally isolated Caparo Block in the southern Mérida Andes, suggesting that it may have constituted a distinct fault block in the Triassic. New fission track data from the Santander Massif suggest that it started exhuming at ~ 40 Ma during a period of accelerated convergence between the Nazca/Farallòn Plate and the western margin of South America. Exhumation in the Santander
Gonzalez, Laura; Pfiffner, O. Adrian
In this paper, we analyze the morphology of the Andes of Peru and its evolution based on the geometry of river channels, their bedrock profiles, stream gradient indices and the relation between thrust faults and morphology. The rivers of the Pacific Basin incised Mesozoic sediments of the Marañon thrust belt, Cenozoic volcanics and the granitic rocks of the Coastal Batholith. They are mainly bedrock channels with convex upward shapes and show signs of active ongoing incision. The changes in lithology do not correlate with breaks in slope of the channels (or knick points) such that the high gradient indices (K) with values between 2,000-3,000 and higher than 3,000 suggest that incision is controlled by tectonic activity. Our analysis reveals that many of the ranges of the Western Cordillera were uplifted to the actual elevations where peaks reach to 6,000 m above sea level by thrusting along steeply dipping faults. We correlate this uplift with the Quechua Phase of Neogene age documented for the Subandean thrust belt. The rivers of the Amazonas Basin have steep slopes and high gradient indices of 2,000-3,000 and locally more than 3,000 in those segments where the rivers flow over the crystalline basement of the Eastern Cordillera affected by vertical faulting. Gradient indices decrease to 1,000-2,000 within the east-vergent thrust belt of the Subandean Zone. Here a correlation between breaks in river channel slopes and location of thrust faults can be established, suggesting that the young, Quechua Phase thrust faults of the Subandean thrust belt, which involve Neogene sediments, influenced the channel geometry. In the eastern lowlands, these rivers become meandering and flow parallel to anticlines that formed in the hanging wall of Quechua Phase thrust faults, suggesting that the river courses were actively displaced outward into the foreland.
Trachte, Katja; Bendix, Jörg
The climate of Ecuador is strongly dominated by the complex structure of the Andes Mountains. Due to their heights and north-south orientation they act like a barrier, which cause delineation between the western and eastern flanks, as well as the inner-Andean areas. Commonly the Ecuadorian climate is classified in three zones, Costa, Interandina and Oriente. Existing precipitation products such as the GPCC or TRMM data are enabled to represent these climate zones, but because of their spatial resolution, they pass to capture the different regimes within a zone. Especially the inner-Andean region (Interandina) with its characteristic complex terrain shows spatially high climate variability. Local circulation systems, e.g. mountain-valley breezes as well as effects of windward and lee-side, drive the climate conditions allowing for the differentiation of air temperature and rainfall distribution on relative small scales. These highly variable patterns are also reflected by the diversity of ecosystems, e.g. rainforest, dry forest and Paramo, in a relative small area. In order to represent the local systems a dynamical downscaling approach for the Ecuadorian region is applied. In doing so the Weather Research and Forecasting (WRF) model is used. A suitable model setup was evaluated within a sensitivity study, where various parametrization schemes were tested. The most suitable physics combination was used for a 30 year hint cast simulation. The poster presents first results of the high resolution climate simulations. On the basis of the spatial distribution of rainfall patterns distinct precipitation regimes within the Interandina will be shown. The aim is to highlight and discuss the importance of the adequately representation of the terrain in mountainous regions like the Andean Mountains.
This scene on the remote, rugged Argentine/Chilean border in the far southern Andes Mountains offers numerous, dramatic examples of both erosional processes and features of ice and water. The sharp, glaciated crest of the Cerro San Lorenzo (center) exceeds 12,000 feet and casts a long shadow southeastward. Glaciers on its western flank flow into the valley. This Electronic Still Camera photo was taken from the International Space Station, in December 2000 (late spring) when most of the previous winter's snow had melted below an altitude of 6,000 feet. Lago Pueyrredon, and the other lakes visible here, have been excavated by geologically recent episodes of glacier erosion, when glaciers extended all the way onto the lowland plains (top right). Since the last melting of the glaciers (15,000 years ago) three distinct fan deltas (semicircular features, marked with arrows) have formed where rivers flow into the lake. Counterclockwise currents in the lake-driven by strong winds from the west-have generated thin sand spits from each fan-delta. The largest spit (attached to the largest fan-delta, see right arrow) has isolated an approximately 10-kilometer long segment of the south end of the lake. The river that constructed the largest fan presently discharges turbid water to this isolated basin, giving it a lighter color than the rest of the lake. Glacial data collected over the past 50 years indicate that small ice bodies are disappearing at accelerated rates. (EOS, vol 81, no. 24, June 13, 2000) Predictions are that large fluctuations in land ice, with significant implications to society, are possible in the coming decades and centuries due to natural and anthropogenic climate change. Before glacial data can be used to address critical problems pertaining to the world's economic and environmental health, more detailed information about such glaciers is needed. Image ISS001-ESC-5113 provided by the Earth Sciences and Image Analysis Laboratory, Johnson Space Center.
Daniel R. Martinioni
Full Text Available The Cretaceous stratigraphy north of Lago Fagnano, Tierra del Fuego, was poorly known until the last decade of the twentieth century. Stratigraphic, sedimentologic, and paleontological observations in sierra de Beauvoir and surroundings enabled the recognition of two main packages of dominant marine mudstone. 1 A more than 450 m thick package of slate, shale and mudstone, constituted by the revised Lower Cretaceous Beauvoir Formation. A type locality in the core of sierra de Beauvoir, with diagnostic Aptian-Albian fossils including inoceramids of the Inoceramus neocomiensis group and Aucellina sp., is proposed for this unit. 2 A more than 1,500 m thick, mudstone-dominated, but sandier upward, package consisting of at least three Upper Cretaceous units. Arroyo Castorera Formation (nom. nov. bears Turonian inoceramids of the I. hobetsensis group and I. cf. lamarcki. Río Rodríguez Formation (nom. nov. has Coniacian inoceramids, cf. Cremnoceramus sp. Policarpo Formation bears poorly preserved ammonites (Grossouvrites sp., Maorites sp., and Diplomoceras sp., together with diagnostic Maastrichtian dinocysts (Manumiella spp. complex, Operculodinium cf. azcaratei, some specimens of Fibrocysta-Exochosphaeridium complex, and Palaeocystodinium granulatum. Both packages were deposited in deep-marine environments and show, as a whole, a coarsening upward trend in the succession of Cretaceous rocks. Beauvoir Formation is part of the back-arc basin-fill of the former Rocas Verdes marginal basin. Arroyo Castorera Formation appears as a transition to the initiating Late Cretaceous Austral foreland basin evolution, clearly represented by turbiditic deposits of Río Rodríguez and Policarpo formations that were progressively accumulated in front of the rising Fuegian Andes.
Mark, B. G.; McKenzie, J. M.; Baraer, M.; Lagos, P.; Lautz, L.; Carey, M.; Bury, J.; Crumley, R.; Wigmore, O.; Somers, L. D.
Accelerating glacier recession in the tropical Andes is transforming downstream hydrology, while increasing demands for water by end-users (even beyond the watershed limits) is complicating the assessment of vulnerability. Future scenarios of hydro-climatic vulnerability require a better understanding of coupled hydrologic and human systems, involving both multiscale process studies and more robust models of glacier-climate interactions. We synthesize research in two proglacial valleys of glacierized mountain ranges in different regions of Peru that are both in proximity to growing water usage from urban sectors, agriculture, hydroelectric generation, and mining. In both the Santa River watershed draining the Cordillera Blanca and the Shullcas River watershed below Hyuatapallana Mountain in Junin, glaciers have receded over 25% since the 1980s. Historical runoff and glacier data, combined with glacier-climate modeling, show a long-term decrease in discharge resulting from a net loss of stored water. We find evidence that this altered hydrology is transforming proglacial wetland ecology and water quality, even while water resource use has intensified. Beyond glaciers, our results show that over 60% of the dry season base flow in each watershed is groundwater sourced from heterogeneous aquifers. Municipal water supply in Huancayo already relies on 18 groundwater wells. Perceptions of water availability and actual water use practices remain relatively divorced from the actual water resources provided from each mountain range. Critical changes in glacier volume and water supply are not perceived or acknowledged consistently amongst different water users, nor reflected in water management decisions. In order to identify, understand, model, and adapt to climate-glacier-water changes, it is vital to integrate the analysis of water availability and groundwater processes (the domain of hydrologists) with that of water use (the focus for social scientists). Attention must be
Full Text Available On-farm diversification towards multifunctional activities is perceived as central in the Common Agricultural Policy (CAP reform and in the Horizon 2020 strategies, because it strengthens territorial and social cohesion of rural areas. While from a “macro” point of view relations between farm-household diversification and rural economies are central in the process of multi-functionality and in the provision of public goods through agricultural activities, from a “micro” point of view on-farm diversification activities can represent a relevant share of farm income. Agricultural Economics and Rural Sociology have developed models aiming to explain the determinants of on-farm diversification thus providing a set of variables potentially influencing on-farm diversification. The paper applies a count model to explain the number of on-farm diversification activities that are implemented by farms in Tuscany. Since the high number of agricultural holdings that do not apply any diversification activity, we propose a two-step model where, firstly a simulation of adoption of diversified strategy as binary variable is considered and secondly, a model analysing the determinants of diversification intensity among the farms that have decided to diversify is implemented. Results confirm that location near main touristic areas and vicinity to urban markets are important determinants of on-farm diversification intensity. Results highlight a positive contribution of the Pillar 2 agricultural policies both in determining the diffusion of on-farm diversification activities and in influencing the intensity of adoption, while high per hectare Single Farm Payments have a negative influence on diversification intensity.
Bookhagen, B.; Strecker, M. R.
The complex interplay between erosion and tectonics shapes landscapes on various time and length scales. Thus, determining the relative importance of tectonic and climate-driven processes is key for our understanding of the evolution of tectonically active mountain belts. Each mountain belt may exhibit an individual and complex response to these processes that may be characteristic for differently sized sectors of the orogenic system. Here, we focus on small (101km) to medium (102-103km) scale relations along the eastern flank of the meridionally oriented South American Andes. The central Andes and the major part of the northern Andes are subject to strong rainfall and erosion on their eastern side. There, rainfall has a strong gradient with wet, northern and central parts and presently drier areas south of the Andes bend at ~17°S. While lithology and geologic units vary along strike, the general deformation regime of the northern and central eastern Andes is similar with east vergent thrust-fault systems. We use high-resolution Tropical Rainfall Measurement Mission (TRMM) and SRTM topographic data to characterize elevation, relief, and hillslope angle of peak rainfall at orographic barriers constituting the eastern flank of the orogen. Over a distance of more than 3500km along the eastern flank of the Andes facing the Amazon Basin, we find that peak rainfall (>3.5m/yr) occurs at a mean elevation of 1.3±0.17km, a mean 3- km-relief of 0.95±0.08km, and areas characterized by moderate mean hillslope angles of 18.3±1.7°. We find that topographic relief is the best first-order rainfall predictor. South of the eastward-convex bend of the Andes, rainfall amounts decrease and there exists no distinct, high rainfall peak. The reduction in rainfall is accompanied by a reduction of relief involving several hundred meters at the mountain front as rivers exiting the eastern Andes tend to form large sedimentary fan systems that reduce the distance between minimum and
Full Text Available We present GPS measurements of the crustal velocity field in the southern Central Andes between the Santa Cruz corner and the Malargüe fold and thrust belt, and model this interseismic velocity field as the combination of an ephemeral, elastic signal associated with locking of the main plate boundary, and a steady and non-reversing component of displacement associated with localized backarc convergence and growth of the mountain belt. We find that this second component, i.e. the ongoing and permanent displacement of the forearc and the high Andes relative to the craton, can be modeled very well as a steady clockwise rotation of an Andean microplate about a pole located in southern Argentina. Near the Malargüe Basin, this microplate (or block is moving nearly parallel to the strike of the orogen, transporting material towards the bend in the central Andes. Farther north, in the southern limb of the Central Andes, the motion of this same crustal block is directed nearly perpendicular to the strike of the mountain belt. Our results suggest that permanent deformation rates in the backarc range from a maximum of ~ 6-7 mm/yr in the Bolivian Subandes to less than ~ 3 mm/yr in the Argentine Precordillera and Malargue fold and thrust belt. It is likely that most active backarc deformation is accruing in a narrow zone (~ 50 km wide associated with the backarc boundary (usually defined as the thrust front though at this stage it is impossible to distinguish whether specific backarc structures are actively accruing strain.Se presentan mediciones GPS del campo de velocidad en los Andes centro-australes entre el extremo norte de Santa Cruz y la faja plegada de Malargüe. Se modela el campo de velocidad intersísmico como la combinación de una señal elástico/efímera asociada con el anclaje del límite principal de placas, y una componente constante, no reversible de desplazamiento asociada con una convergencia localizada en el retroarco y crecimiento del
A general framework for future development of intelligent operator support systems in nuclear plants is proposed in this paper. The central idea in the framework is the decision-making through consensus among multiple agents, each conducting diagnosis on the basis of mutually different, i.e. diverse, principle by focusing dissimilar symptoms obtained from the plant. The applicability and credibility of the operator support system are expected to be significantly improved by implementing the proposed scheme. The effectiveness of diversification in symptom description independently of the effect of reasoning methods was mainly evaluated in this paper. A prototype system was developed for the subtask of fault diagnosis by multiple neural networks emulating the diagnostic agents. The advantage of the proposed framework, together with the related technique of symptom diversification and consensus, was clearly demonstrated through numerical evaluations simulating anomalies in a pressurized water reactor. The obtained results validate, at least to same extent, the present claim of combining multiple and diverse perspectives for reliable decision-making in high-hazard artifacts. (author)
Chaïr, H; Traore, R E; Duval, M F; Rivallan, R; Mukherjee, A; Aboagye, L M; Van Rensburg, W J; Andrianavalona, V; Pinheiro de Carvalho, M A A; Saborio, F; Sri Prana, M; Komolong, B; Lawac, F; Lebot, V
Taro (Colocasia esculenta (L.) Schott) is widely distributed in tropical and sub-tropical areas. However, its origin, diversification and dispersal remain unclear. While taro genetic diversity has been documented at the country and regional levels in Asia and the Pacific, few reports are available from Americas and Africa where it has been introduced through human migrations. We used eleven microsatellite markers to investigate the diversity and diversification of taro accessions from nineteen countries in Asia, the Pacific, Africa and America. The highest genetic diversity and number of private alleles were observed in Asian accessions, mainly from India. While taro has been diversified in Asia and the Pacific mostly via sexual reproduction, clonal reproduction with mutation appeared predominant in African and American countries investigated. Bayesian clustering revealed a first genetic group of diploids from the Asia-Pacific region and to a second diploid-triploid group mainly from India. Admixed cultivars between the two genetic pools were also found. In West Africa, most cultivars were found to have originated from India. Only one multi-locus lineage was assigned to the Asian pool, while cultivars in Madagascar originated from India and Indonesia. The South African cultivars shared lineages with Japan. The Caribbean Islands cultivars were found to have originated from the Pacific, while in Costa Rica they were from India or admixed between Indian and Asian groups. Taro dispersal in the different areas of Africa and America is thus discussed in the light of available records of voyages and settlements. PMID:27314588
Full Text Available Taro (Colocasia esculenta (L. Schott is widely distributed in tropical and sub-tropical areas. However, its origin, diversification and dispersal remain unclear. While taro genetic diversity has been documented at the country and regional levels in Asia and the Pacific, few reports are available from Americas and Africa where it has been introduced through human migrations. We used eleven microsatellite markers to investigate the diversity and diversification of taro accessions from nineteen countries in Asia, the Pacific, Africa and America. The highest genetic diversity and number of private alleles were observed in Asian accessions, mainly from India. While taro has been diversified in Asia and the Pacific mostly via sexual reproduction, clonal reproduction with mutation appeared predominant in African and American countries investigated. Bayesian clustering revealed a first genetic group of diploids from the Asia-Pacific region and to a second diploid-triploid group mainly from India. Admixed cultivars between the two genetic pools were also found. In West Africa, most cultivars were found to have originated from India. Only one multi-locus lineage was assigned to the Asian pool, while cultivars in Madagascar originated from India and Indonesia. The South African cultivars shared lineages with Japan. The Caribbean Islands cultivars were found to have originated from the Pacific, while in Costa Rica they were from India or admixed between Indian and Asian groups. Taro dispersal in the different areas of Africa and America is thus discussed in the light of available records of voyages and settlements.
Chaïr, H.; Traore, R. E.; Duval, M. F.; Rivallan, R.; Mukherjee, A.; Aboagye, L. M.; Van Rensburg, W. J.; Andrianavalona, V.; Pinheiro de Carvalho, M. A. A.; Saborio, F.; Sri Prana, M.; Komolong, B.; Lawac, F.; Lebot, V.
Taro (Colocasia esculenta (L.) Schott) is widely distributed in tropical and sub-tropical areas. However, its origin, diversification and dispersal remain unclear. While taro genetic diversity has been documented at the country and regional levels in Asia and the Pacific, few reports are available from Americas and Africa where it has been introduced through human migrations. We used eleven microsatellite markers to investigate the diversity and diversification of taro accessions from nineteen countries in Asia, the Pacific, Africa and America. The highest genetic diversity and number of private alleles were observed in Asian accessions, mainly from India. While taro has been diversified in Asia and the Pacific mostly via sexual reproduction, clonal reproduction with mutation appeared predominant in African and American countries investigated. Bayesian clustering revealed a first genetic group of diploids from the Asia-Pacific region and to a second diploid-triploid group mainly from India. Admixed cultivars between the two genetic pools were also found. In West Africa, most cultivars were found to have originated from India. Only one multi-locus lineage was assigned to the Asian pool, while cultivars in Madagascar originated from India and Indonesia. The South African cultivars shared lineages with Japan. The Caribbean Islands cultivars were found to have originated from the Pacific, while in Costa Rica they were from India or admixed between Indian and Asian groups. Taro dispersal in the different areas of Africa and America is thus discussed in the light of available records of voyages and settlements. PMID:27314588
Full Text Available Abstract Background Lysozymes are important model enzymes in biomedical research with a ubiquitous taxonomic distribution ranging from phages up to plants and animals. Their main function appears to be defence against pathogens, although some of them have also been implicated in digestion. Whereas most organisms have only few lysozyme genes, nematodes of the genus Caenorhabditis possess a surprisingly large repertoire of up to 15 genes. Results We used phylogenetic inference and sequence analysis tools to assess the evolution of lysozymes from three congeneric nematode species, Caenorhabditis elegans, C. briggsae, and C. remanei. Their lysozymes fall into three distinct clades, one belonging to the invertebrate-type and the other two to the protist-type lysozymes. Their diversification is characterised by (i ancestral gene duplications preceding species separation followed by maintenance of genes, (ii ancestral duplications followed by gene loss in some of the species, and (iii recent duplications after divergence of species. Both ancestral and recent gene duplications are associated in several cases with signatures of adaptive sequence evolution, indicating that diversifying selection contributed to lysozyme differentiation. Current data strongly suggests that genetic diversity translates into functional diversity. Conclusion Gene duplications are a major source of evolutionary innovation. Our analysis provides an evolutionary framework for understanding the diversification of lysozymes through gene duplication and subsequent differentiation. This information is expected to be of major value in future analysis of lysozyme function and in studies of the dynamics of evolution by gene duplication.
Snook, I D
Corporate restructuring of hospitals as a strategy for survival and continued success is described. Health-care providers' traditional orientation has been toward service and mission; now, profits and new markets in health care must be considered also. To remain competitive, hospitals must be prepared to act rapidly on opportunities. Corporate reorganization, the creation of new corporate entities that perform diversified medical and nonmedical functions, may provide the flexibility needed for quick action. Legal and accounting costs will be incurred by corporate reorganization. Tax issues, staff morale, community support, and effect on hospital managers and board members should be considered. Hospitals can cut costs through vertical integration of existing services; in this system-building strategy, new services can be added to broaden the patient base. Corporate reorganization is more important for diversification--the extension of a hospital's medical and health businesses--than for system building. Guidelines for diversification are offered. Corporate reorganization is a technique that should be considered in an institution's planning process. PMID:3300301
Full Text Available Los Andes bolivianos ocuparonuna posición de retroarco durante gran parte del Fanerozoico. En su evoluciónse reconoce una primera etapa, restringida al Paleozoico inferior, en la quehubo una gran transferencia de material sedimentario en la corteza superior, yuna segunda en la que predominó el reciclaje de la masa cortical. A lo largodel Paleozoico inferior, una cuenca marina epicratónica se formó entre elcratón de Amazonia, el macizo Arequipa-Antofalla, y el macizo Pampeanofuncionando inicialmente como cuenca de retroarco y luego como cuenca deantepaís hasta colmatarse en el Paleozoico superior. En este lapso ocurrierontres etapas de deformación: La fase oclóyica (límite Ordovícico-Silúrico decarácter restringido, la fase eohercínica (límite Devónico-Carbonífero, y lafase hercínica (Carbonífero Superior también de influencia areal restringida.En el Mesozoico, se registraron aún breves incursiones marinas antes que en elEoceno comience a edificarse una protocordillera. El solevantamiento general detoda la región centroandina, se inició en el Oligoceno Superior afectando alAltiplano y la Cordillera Oriental actuales. Este solevantamiento ocurrió entres etapas limitadas por la formación de superficies de erosión datadas en 18y 10 Ma. La ladera oeste de la Cordillera Oriental, denominada faja de Huarina,tuvo un rol muy importante en la evolución de la región centroandina. Además decobijar a gran parte del magmatismo de retroarco, en esta faja ocurrió la mayorsubsidencia de la cuenca paleozoica. En esta faja ocurrieron preferentementedurante el Mesozoico, procesos de rifting y de adelgazamiento litosférico. Enel Paleógeno, la faja de Huarinas fue la primera en ser solevantada aislando lacuenca altiplánica del interior del continente, y durante el OligocenoSuperior, se constituyó en el cinturón retrocabalgante del orógeno. Ladeformación en el Altiplano y la Cordillera Oriental concluyó hace 10 Ma cuandose form
Hospitals are increasingly turning to diversification as a strategy for growth. This article presents a technique for assessing the different attitudes of hospital leaders--board members, management, and physicians--toward diversification and, ultimately, for achieving consensus among them. PMID:10300303
... 7 Agriculture 15 2010-01-01 2010-01-01 false Portfolio diversification (âoverlineâ limitation). 4290.740 Section 4290.740 Agriculture Regulations of the Department of Agriculture (Continued) RURAL... Enterprise for Rbic Financing § 4290.740 Portfolio diversification (“overline” limitation). (a) Without...
This paper explores the relationship between the diversification of sources of imported oil and energy security of oil-importing countries. It examines the importance of diversification policy for oil importers, explains why oil importers implement oil diversification policy, and contextualizes the oil import diversification strategy in the overall energy security policy of oil importers. The paper analyzes the factors and the contexts that affect the level of importance assigned to oil import diversification policy in oil-importing countries, and the limitations that may affect the successful implication of oil import diversification policy. The examples are drawn from the world's top three oil importers, the United States, Japan, and China. The policymakers in these and other oil-importing countries place much importance on energy security. The diversification of oil import sources is used as one of the strategies to enhance energy security in oil-importing countries. This paper is important for policymakers in oil-importing countries as it provides them with a qualitative conceptual framework with which to evaluate the need to diversify their countries' sources of imported oil, and with which to identify the likely limitations to the successful implementation of oil import diversification policy. (author)
This paper explores the relationship between the diversification of sources of imported oil and energy security of oil-importing countries. It examines the importance of diversification policy for oil importers, explains why oil importers implement oil diversification policy, and contextualizes the oil import diversification strategy in the overall energy security policy of oil importers. The paper analyzes the factors and the contexts that affect the level of importance assigned to oil import diversification policy in oil-importing countries, and the limitations that may affect the successful implication of oil import diversification policy. The examples are drawn from the world's top three oil importers, the United States, Japan, and China. The policymakers in these and other oil-importing countries place much importance on energy security. The diversification of oil import sources is used as one of the strategies to enhance energy security in oil-importing countries. This paper is important for policymakers in oil-importing countries as it provides them with a qualitative conceptual framework with which to evaluate the need to diversify their countries' sources of imported oil, and with which to identify the likely limitations to the successful implementation of oil import diversification policy.
... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Diversification requirements for variable... Provisions § 1.817-5 Diversification requirements for variable annuity, endowment, and life insurance... this section, for purposes of subchapter L, section 72, and section 7702(a), a variable contract...
Jaring, M; Bosch, J
In a software product family context, software architects design architectures that support product diversification in both space (multiple contexts) and time (changing contexts). Product diversification is based on the concept of variability: a single architecture and a set of components support a
Crandall Keith A
Full Text Available Abstract Background Past studies in the legume family (Fabaceae have uncovered several evolutionary trends including differential mutation and diversification rates across varying taxonomic levels. The legume tribe Psoraleeae is shown herein to exemplify these trends at the generic and species levels. This group includes a sizable diversification within North America dated at approximately 6.3 million years ago with skewed species distribution to the most recently derived genus, Pediomelum, suggesting a diversification rate shift. We estimate divergence dates of North American (NAm Psoraleeae using Bayesian MCMC sampling in BEAST based on eight DNA regions (ITS, waxy, matK, trnD-trnT, trnL-trnF, trnK, trnS-trnG, and rpoB-trnC. We also test the hypothesis of a diversification rate shift within NAm Psoraleeae using topological and temporal methods. We investigate the impact of climate change on diversification in this group by (1 testing the hypothesis that a shift from mesic to xeric habitats acted as a key innovation and (2 investigating diversification rate shifts along geologic time, discussing the impact of Quaternary climate oscillations on diversification. Results NAm Psoraleeae represents a recent, rapid radiation with several genera originating during the Pleistocene, 1 to 2 million years ago. A shift in diversification rate is supported by both methods with a 2.67-fold increase suggested around 2 million years ago followed by a 8.73-fold decrease 440,000 years ago. The hypothesis that a climate regime shift from mesic to xeric habitats drove increased diversification in affected taxa was not supported. Timing of the diversification rate increase supports the hypothesis that glaciation-induced climate changes during the Quaternary influenced diversification of the group. Nonrandom spatial diversification also exists, with greater species richness in the American Southwest. Conclusion This study outlines NAm Psoraleeae as a model example
Kearney, Michael; Blacket, Mark J
Environmental changes over the Plio-Pleistocene have been key drivers of speciation patterns and genetic diversification in high-latitude and mesic environments, yet comparatively little is known about the evolutionary history of species in arid environments. We applied phylogenetic and phylogeographic analyses to understand the evolutionary history of Warramaba grasshoppers from the Australian arid zone, a group including sexual and parthenogenetic lineages. Sequence data (mitochondrial COI) showed that the four major sexual lineages within Warramaba most likely diverged in the Pliocene, around 2-7 million years ago. All sexual lineages exhibited considerable phylogenetic structure. Detailed analyses of the hybrid parthenogenetic species W. virgo and its sexual progenitors showed a pattern of high phylogenetic diversity and phylogeographic structure in northern lineages, and low diversity and evidence for recent expansion in southern lineages. Northern sexual lineages persisted in localized refugia over the Pleistocene, with sustained barriers promoting divergence over this period. Southern parts of the present range became periodically unsuitable during the Pleistocene, and it is into this region that parthenogenetic lineages have expanded. Our results strongly parallel those for sexual and parthenogenetic lineages of the gecko Heteronotia from the same region, indicating a highly general effect of Plio-Pleistocene environmental change on diversification processes in arid Australia. PMID:19120998
Full Text Available The aim of this paper is to provide some preliminary evidence on relation between size, diversification and risk in commercial banks of Pakistan. Using a panel of Pakistani banks, we investigated whether bigger banks are better diversified than smaller banks.The results suggested that larger banks were more diversified than their smaller counterparts mainly on account of their outreach and size of credit portfolio. On the risk side, based on accounting and market based risk measures, we explored if there is any impact of diversification on risk. We could not deduce significant result in favor of accounting risk measure of impaired lending signaling that banks find no incentive in diversification of credit books. The market based measures of VaR and Default indicator were significantly related to diversification signifying that market participants consider diversification as a relevant tool for risk mitigation. These findings have policy implications for regulators and risk management to ensure stability in financial system.
Kasilingam Lingaraja; Murugesan Selvam; Vinayagamoorthi Vasanth; Ramachandran Rajesh Ramkumar
The international portfolio diversification is a function of correlation of equity markets across countries and the amount of correlation one market has with another, decides the scope of portfolio diversification. The market having high correlation with other markets generally has less scope for portfolio diversification. This research study investigated the existence of long run portfolio diversification benefits and opportunities of eight emerging stock markets in Asia and three top, bench...
Oliveras Menor, I.; Anderson, L.O.; Malhi, Y.
In the tropical Andes, there have been very few systematic studies aimed at understanding the biomass burning dynamics in the area. This paper seeks to advance on our understanding of burning regimes in this region, with the first detailed and comprehensive assessment of fire occurrence and the deri
Perez, C.; Nicklin, C.; Dangles, O.; Vanek, S.; Sherwood, S.G.; Halloy, S.; Garrett, K.A.; Forbes, G.A.
Abstract: Global climate change represents a major threat to sustainable farming in the Andes. Farmers have used local ecological knowledge and intricate production systems to cope, adapt and reorganize to meet climate uncertainty and risk, which have always been a fact of life. Those traditional sy
Garibotti, Irene Adriana; Villalba, Ricardo
This study represents the first attempt to develop and apply lichenometric dating curves of Rhizocarpon subgenus Rhizocarpon for dating glacier fluctuations in the Patagonian Andes. Six glaciers were studied along the Patagonian Andes. Surfaces of known ages (historical evidences and tree-ring analyses) were used as control sites to develop indirect lichenometric dating curves. Dating curves developed for the studied glaciers show the same general logarithmic form, indicating that growth rate of subgenus Rhizocarpon decreases over time. The strong west-east precipitation gradient across the Andean Cordillera introduces statistically significant differences in the growth curves, with faster growth rates in the moist west sites than the drier eastern sites. Latitudinal difference among the studied glaciers does not appear to be a major factor regulating lichen growth rates. Therefore, we developed two lichenometric curves for dating glacier fluctuations in wetter and drier sites in the Patagonian Andes during the past 450 yrs. Application of the developed curves to moraine dating allowed us to complement glacial chronologies previously obtained by tree-ring analyses. A first chronosequence for moraine formation in the Torrecillas Glacier (42°S) is presented. Our findings confirm the utility of lichenometry to date deglaciated surfaces in the Patagonian Andes.
OSCAR HUMBERTO MARÍN GÓMEZ
Full Text Available We report a new locality record of the Hooded Anpitta (Grallariculla cucullata, a threatened species inhabiting montane cloud forests of the Colombian and Venezuelan Andes. This is the first record for Quindío department. We present capture-rate data at this site that suggests a resident, relatively large population.
Complete text of publication follows. This investigation considers two regions of interest, the first one includes the zone around Parinacota (6350 m, 18 deg09'S, 69 deg08'W), a subduction related stratovolcano situated in the limit of Bolivia and Chile, which had its biggest eruptive episodes around 8000 years ago. The second zone is more to the south, around Lascar volcano (5592 m, 23 deg22'S, 67 deg41'W), located on the eastern side of the Salar de Atacama basin in northern Chile, it has been one of the most active volcanoes of the central Andes in the last years. Between September and November 2007, magnetotelluric and audio magnetotelluric sites were built in the area close to Lascar and Parinacota volcanoes. AMT sites were installed in the proximities of the volcanoes, for a more shallow view, and the MT sites, which can reach longer periods and larger depths, were installed on a profile south of Lascar, which goes from the volcanic arc, crossing the Salar de Atacama basin, and as an outer ring in the Parinacota region. Remote reference and robust techniques were used in the data processing. Induction arrows, phase tensor ellipses and strike direction of the conductivity distribution have been calculated for the AMT sites, showing some 3-D behavior for the shallower depths, with induction vectors at the closest sites to the volcanoes pointing away from them, influenced by the topography. For the higher periods, the behavior is more 2-D in both regions, with a more stable strike direction which is coherent with the induction vectors and the largest semi axis of the phase tensor ellipses. All these parameters show a strong influence in the higher periods which seem to be due to a large conductive anomaly in the backarc, according with other studies in the zone, under the Bolivian altiplano. From a first analysis, deep large conductive bodies are not present in these zones around the volcanoes. Topographic corrections have been developed as well as sensitivity
Eichelberger, Nathan; McQuarrie, Nadine; Ryan, Jamie; Karimi, Bobak; Beck, Susan; Zandt, George
Paleoelevation histories from the central Andes in Bolivia have suggested that the geodynamic evolution of the region has been punctuated by periods of large-scale lithospheric removal that drive rapid increases in elevation at the surface. Here, we evaluate viable times and locations of material loss using a map-view reconstruction of the Bolivian orocline displacement field to forward-model predicted crustal thicknesses. Two volumetric models are presented that test assumed pre-deformation crustal thicknesses of 35 km and 40 km. Both models predict that modern crustal thicknesses were achieved first in the northern Eastern Cordillera (EC) by 30-20 Ma but remained below modern in the southern EC until ≤10 Ma. The Altiplano is predicted to have achieved modern crustal thickness after 10 Ma but only with a pre-deformation thickness of 50 km, including 10 km of sediment. At the final stage, the models predict 8-25% regional excess crustal volume compared to modern thickness, largely concentrated in the northern EC. The excess predicted volume from 20 to 0 Ma can be accounted for by: 1) crustal flow to the WC and/or Peru, 2) localized removal of the lower crust, or 3) a combination of the two. Only models with initial crustal thicknesses >35 km predict excess volumes sufficient to account for potential crustal thickness deficits in Peru and allow for lower crustal loss. However, both initial thickness models predict that modern crustal thicknesses were achieved over the same time periods that paleoelevation histories indicate the development of modern elevations. Localized removal of lower crust is only necessary in the northern EC where crustal thickness exceeds modern by 20 Ma, prior to paleoelevation estimates of modern elevations by 15 Ma. In the Altiplano, crustal thicknesses match modern values at 10 Ma and can only exceed modern values by 5 Ma, post-dating when modern elevations were thought to have been established. Collectively, these models predict that
The main conclusion of Country Economic Memorandum is that the previous model of extensive growth has now exhausted its potential and must be renewed. Given the existing population dynamics, low environmental tolerance due to its Sahelian climate and competition forces imposed due to its open economy, Burkina Faso is heavily investing in growth based on increased productivity to overcome i...
The main conclusion of Country Economic Memorandum is that the previous model of extensive growth has now exhausted its potential and must be renewed. Given the existing population dynamics, low environmental tolerance due to its Sahelian climate and competition forces imposed due to its open economy, Burkina Faso is heavily investing in growth based on increased productivity to overcome i...
Reforms using market-style mechanisms of parental choice and competition between schools are intended to leverage change by compelling schools to diversify options and increase effectiveness. Yet, some research challenges those assumptions, suggesting that schools in competitive climates are more likely to focus on image management to attract a…
... to the 323 Order, 74 FR 25163 (2009), and the 323 MO&O, 74 FR 56131 (2009) in this proceeding... Documents in Rulemaking Proceedings, 63 FR 24121 (1998). Electronic Filers: Comments may be filed.... Television Broadcasting. In this context, the application of the statutory definition to television...
Petrin, Zlatko; Schilling, Emily Gaenzle; Loftin, Cyndy; Johansson, Frank
Predators strongly influence species assemblages and shape morphological defenses of prey. Interestingly, adaptations that constitute effective defenses against one type of predator may render the prey susceptible to other types of predators. Hence, prey may evolve different strategies to escape predation, which may facilitate adaptive radiation of prey organisms. Larvae of different species in the dragonfly genus Leucorrhinia have various morphological defenses. We studied the distribution of these larvae in relation to the presence of predatory fish. In addition, we examined the variation in morphological defenses within species with respect to the occurrence of fish. We found that well-defended species, those with more and longer spines, were more closely associated with habitats inhabited by predatory fish and that species with weakly developed morphological defenses were more abundant in habitats without fish. The species predominantly connected to lakes with or without fish, respectively, were not restricted to a single clade in the phylogeny of the genus. Our data is suggestive of phenotypic plasticity in morphological defense in three of the studied species since these species showed longer spines in lakes with fish. We suggest that adaptive phenotypic plasticity may have broadened the range of habitats accessible to Leucorrhinia. It may have facilitated colonization of new habitats with different types of predators, and ultimately, speciation through adaptive radiation.
Aves Stephen J
Full Text Available Abstract Background Yeast and animal cells require six mini-chromosome maintenance proteins (Mcm2-7 for pre-replication complex formation, DNA replication initiation and DNA synthesis. These six individual MCM proteins form distinct heterogeneous subunits within a hexamer which is believed to form the replicative helicase and which associates with the essential but non-homologous Mcm10 protein during DNA replication. In contrast Archaea generally only possess one MCM homologue which forms a homohexameric MCM helicase. In some eukaryotes Mcm8 and Mcm9 paralogues also appear to be involved in DNA replication although their exact roles are unclear. Results We used comparative genomics and phylogenetics to reconstruct the diversification of the eukaryotic Mcm2-9 gene family, demonstrating that Mcm2-9 were formed by seven gene duplication events before the last common ancestor of the eukaryotes. Mcm2-7 protein paralogues were present in all eukaryote genomes studied suggesting that no gene loss or functional replacements have been tolerated during the evolutionary diversification of eukaryotes. Mcm8 and 9 are widely distributed in eukaryotes and group together on the MCM phylogenetic tree to the exclusion of all other MCM paralogues suggesting co-ancestry. Mcm8 and Mcm9 are absent in some taxa, including Trichomonas and Giardia, and appear to have been secondarily lost in some fungi and some animals. The presence and absence of Mcm8 and 9 is concordant in all taxa sampled with the exception of Drosophila species. Mcm10 is present in most eukaryotes sampled but shows no concordant pattern of presence or absence with Mcm8 or 9. Conclusion A multifaceted and heterogeneous Mcm2-7 hexamer evolved during the early evolution of the eukaryote cell in parallel with numerous other acquisitions in cell complexity and prior to the diversification of extant eukaryotes. The conservation of all six paralogues throughout the eukaryotes suggests that each Mcm2
Cardinal-McTeague, Warren M; Sytsma, Kenneth J; Hall, Jocelyn C
Brassicales is a diverse order perhaps most famous because it houses Brassicaceae and, its premier member, Arabidopsis thaliana. This widely distributed and species-rich lineage has been overlooked as a promising system to investigate patterns of disjunct distributions and diversification rates. We analyzed plastid and mitochondrial sequence data from five gene regions (>8000bp) across 151 taxa to: (1) produce a chronogram for major lineages in Brassicales, including Brassicaceae and Arabidopsis, based on greater taxon sampling across the order and previously overlooked fossil evidence, (2) examine biogeographical ancestral range estimations and disjunct distributions in BioGeoBEARS, and (3) determine where shifts in species diversification occur using BAMM. The evolution and radiation of the Brassicales began 103Mya and was linked to a series of inter-continental vicariant, long-distance dispersal, and land bridge migration events. North America appears to be a significant area for early stem lineages in the order. Shifts to Australia then African are evident at nodes near the core Brassicales, which diverged 68.5Mya (HPD=75.6-62.0). This estimated age combined with fossil evidence, indicates that some New World clades embedded amongst Old World relatives (e.g., New World capparoids) are the result of different long distance dispersal events, whereas others may be best explained by land bridge migration (e.g., Forchhammeria). Based on these analyses, the Brassicaceae crown group diverged in Europe/Northern Africa in the Eocene, circa 43.4Mya (HPD=46.6-40.3) and Arabidopsis separated from close congeners circa 10.4Mya. These ages fall between divergent dates that were previously published, suggesting we are slowly converging on a robust age estimate for the family. Three significant shifts in species diversification are observed in the order: (1) 58Mya at the crown of Capparaceae, Cleomaceae and Brassicaceae, (2) 38Mya at the crown of Resedaceae+Stixis clade, and
Xiao-Yun PAN; Xin JIA; Dong-Jing FU; Bo LI
Interactions between herbivore pressure and resource availability may result in growth-defense trade-offs in plants (resource availability hypothesis),which promote the potential for ecological diversification and have recently been proposed as a new mechanism of plant invasion (resource-enemy release hypothesis).In the present study,we tested this idea by comparing patterns of maximum growth rate and antiherbivore defense capacity against Agasicles hygrophila (a specialist phytophagous insect on Alternanthera philoxeroides) among six morphs of A.philoxeroides from both native (Argentina) and introduced (US and China) ranges.The results revealed that herbivore resistance consistently exhibited a significant trade-off against the growth rate of A.philoxeroides.Compared with native morphs in Argentina,introduced morphs generally exhibited a higher growth rate and lower defense.The results demonstrate that the combination of flea beetle pressure and resource availability facilitates geographical divergence of A.philoxeroides,and that release from natural specialists and increased resource availability may interact to contribute to its successful invasion.