WorldWideScience

Sample records for breeding stock

  1. The ecological production of cleans stock-breeding problems

    International Nuclear Information System (INIS)

    KazSRTIS have made researches on study of maintenance in cows' milk developed in Almaty's region, determination of heavy metal salts and radionuclides. It has been noted that maintenance of mercury, lead, cupper and zinc increased in suburb's housekeeping cows' milk, which was disposed nearly international highway and industry activities. It is known that entering radionuclides human organism happens by food chain 'soil - vegetable cover - animals product stock-breeding -person'. Animals transformer stern's plants energy at the in conclusion it allows to take the compare with initial vegetable exponent more ecological tidy products limits stream toxic elements in food series of person. It lets to study agricultural animals, how 'biological filter' in production ecological clean and healthy product of food. Changing structure and set stern's rationals, method contents the limit of animals stream manufacturing pollution from soil vegetable cover agricultural used in milk and in mead from 2 till 5 times. Utilisation tidy stern's in final period fatten meat cattle give possibility to clean the organs and tissue of animals which representative food's value from admixture to level, corresponding medical - hygienic standards. It is necessary to make analysis on compound investigation on the effect of radionuclides in agricultural animals, namely to utilize them, that really barrier migrate toxic elements in captured chain of person. The ways of solutions in ecological stock-breeding problems are next: to show up ecological tidy and ecological unsuccessful places; to study rules of transition in basic pollutions of food chains; toxic elements limitation rules in stock-breeding production; utilization manufactory-polluted territories from technological elements for stock-breeding

  2. Impact of sheep stocking density and breed on behaviour of newly regrouped adult rams

    Directory of Open Access Journals (Sweden)

    Engeldal SEC

    2013-03-01

    Full Text Available Placing animals in cages with certain density and good grouping were two important aspects needed in intensive livestock production system to produce optimal production and animal welfare. The objective of this study was to examine effect of stocking density, breed and elapse of time on behaviour of newly regrouped, unacquainted adult rams from three sheep breeds i.e. Barbados Blackbelly Cross, Local Garut and Composite Garut, as possible factor causing variation in welfare status. Instantaneous scan sampling was used for recording sheep behaviour at three different stocking densities. Thirty-six adult rams were used in this research and divided into three groups (n = 12 on the basis of breed. At each stocking density four rams of the same breed were observed during two consecutive days. The recorded behaviours were agonistic-, self-care-, exploratory-, aberrant-, mating-, locomotive- and standing behaviour. The results showed that during the entire experiment agonistic behaviour was observed at the highest frequency. Stocking density was found to have a significant effect on exploratory-, locomotive- and standing behaviour. The effect of breed was found to cause significant differences in agonistic-, self-care-, aberrant- and mating behaviour. Significant differences were also found between day 1 and day 2 of regrouping for agonistic-, exploratory, self-care- and mating behaviour. It is concluded that the three breeds do differ in their behavioural reactions to different stocking density levels and time needed for adaptation after regrouping

  3. Paratuberculosis in breeding stock of red Holstein cows

    Directory of Open Access Journals (Sweden)

    Prodanović Radiša

    2011-01-01

    Full Text Available This paper describes paratuberculosis in an isolated breeding herd of 25 high-yield dairy cows of the Red Holstein breed. The animals were examined clinically and then given the test for ldelayed type hypersensitivity and their blood serum was examined for the presence of specific antibodies against Mycobacterium avium subsp. paratuberculosis (Map. The clinical examination revealed that two cows exhibited symptoms of the disease that indicated an advanced stage of paratuberculosis. The following parameters were examined in the blood of the cows that showed clinical signs of the disease: leukocytes and erythrocytes count, concentrations of total proteins, albumin, iron, sodium, potassium, and activity of creatine kinase. The analysis of the red blood cell count revealed certain digressions that indicated the existence of hypochromic microcytic anaemia. The number of leukocytes was within the physiological values, but the neutrophil-lymphocyte ratio was disrupted and stood at almost 1:1. The results of the biochemical analyses of the blood serum of diseased cows indicated hypoproteinaemia, hypoalbuminaemia, hypoferremia, hyposodiumaemia, hypokalemia, and increased activities of creatine kinase enzymes. A suspect reaction on the site of application of avian tuberculin was determined in two animals. Animals with clinical signs of the disease reacted negative to the test of delayed type hypersensitivity. The presence of specific antibodies against the cause of paratuberculosis was proven in four animals (16%, including two animals with clinical signs of the disease and one that had a suspect reaction on the site of application of avian tuberculin. Furthermore, one animal that died exhibited macroscopic and microscopic changes regarding the intensity and distribution of lesions, the type of cellular infiltrate, and the number of present acidresistent bacteria, and the changes were characterized as diffuse changes of multibacillary type. The cause of

  4. Characterization of pre breeding genetic stocks of urdbean (Vigna mungo L. Hepper) induced through mutagenesis

    International Nuclear Information System (INIS)

    Pre-breeding genetic stocks using different doses of EMS, gamma rays and combination of both (EMS and Gamma rays) in two urdbean cultivar viz., PU-19 (Pant Urd-19) and PU-30 (Pant Urd-30) were induced. Out of a total 14 macro mutation selected from the different treatments of the mutagens in PU-19, narrow leaf mutant exhibited significantly higher yield/ plant as compared to the parent and some other mutants viz., Non hairy, Tall, and tendriller showed at par grain yield. All the seed and pod colour double mutations selected from the PU-30 showed significantly higher yield as compared. Such breeding stocks can be used for the further genetic enhancement of this crop. (author)

  5. Rapid increase of the grey seal ( Halichoerus grypus) breeding stock at Helgoland

    Science.gov (United States)

    Abt, K.; Engler, J.

    2009-06-01

    Over the past 25 years, the grey seal ( Halichoerus grypus) population in the North Sea increased on average at 5% per year, while founding a number of new colonies. Based on published data, this note compares recent trends in pup production at nine breeding sites, with focus on the German island of Helgoland. Since 1997, numbers born at Helgoland increased at 35% per year (95% CI: 29-42), reaching an all-time high of 53 in 2007. Yet, this was less than 1% of all grey seal offspring in the North Sea area. Some other small stocks had similarly high growth rates of 20-50%, which must be explained by immigration from the larger colonies, as sustained autochthonous increase cannot exceed 13% per year in the species. Further, the Helgoland breeding stock increased significantly faster than the neighbouring colonies at Amrum (13%) and in the Dutch Wadden Sea (20%), indicating higher offspring survival and/or higher relative influx of migrants. This is attributed to the fact that at Helgoland newborn seals are safe from floodwater. In the other two sites, in contrast, pups are born on sandbanks and are thus often hit by winterly storm tides, which poses a risk to their survival. Because of the favourable breeding conditions at Helgoland, this new colony is expected to soon become an important stronghold of the grey seal in the Dutch-German North Sea area.

  6. Relationships between Single Nucleotide Polymorphism Markers and Meat Quality Traits of Duroc Breeding Stocks in Korea.

    Science.gov (United States)

    Choi, J S; Jin, S K; Jeong, Y H; Jung, Y C; Jung, J H; Shim, K S; Choi, Y I

    2016-09-01

    This study was conducted to determine the relationships of five intragenic single nucleotide polymorphism (SNP) markers (protein kinase adenosine monophosphate-activated γ3 subunit [PRKAG3], fatty acid synthase [FASN], calpastatin [CAST], high mobility group AT-hook 1 [HMGA1], and melanocortin-4 receptor [MC4R]) and meat quality traits of Duroc breeding stocks in Korea. A total of 200 purebred Duroc gilts from 8 sires and 40 dams at 4 pig breeding farms from 2010 to 2011 reaching market weight (110 kg) were slaughtered and their carcasses were chilled overnight. Longissimus dorsi muscles were removed from the carcass after 24 h of slaughter and used to determine pork properties including carcass weight, backfat thickness, moisture, intramuscular fat, pH24h, shear force, redness, texture, and fatty acid composition. The PRKAG3, FASN, CAST, and MC4R gene SNPs were significantly associated with the meat quality traits (p<0.003). The meats of PRKAG3 (A 0.024/G 0.976) AA genotype had higher pH, redness and texture than those from PRKAG3 GG genotype. Meats of FASN (C 0.301/A 0.699) AA genotype had higher backfat thickness, texture, stearic acid, oleic acid and polyunsaturated fatty acid than FASN CC genotype. While the carcasses of CAST (A 0.373/G 0.627) AA genotype had thicker backfat, and lower shear force, palmitoleic acid and oleic acid content, they had higher stearic acid content than those from the CAST GG genotype. The MC4R (G 0.208/A 0.792) AA genotype were involved in increasing backfat thickness, carcass weight, moisture and saturated fatty acid content, and decreasing unsaturated fatty acid content in Duroc meat. These results indicated that the five SNP markers tested can be a help to select Duroc breed to improve carcass and meat quality properties in crossbred pigs. PMID:27507182

  7. Relationships between Single Nucleotide Polymorphism Markers and Meat Quality Traits of Duroc Breeding Stocks in Korea

    Science.gov (United States)

    Choi, J. S.; Jin, S. K.; Jeong, Y. H.; Jung, Y. C.; Jung, J. H.; Shim, K. S.; Choi, Y. I.

    2016-01-01

    This study was conducted to determine the relationships of five intragenic single nucleotide polymorphism (SNP) markers (protein kinase adenosine monophosphate-activated γ3 subunit [PRKAG3], fatty acid synthase [FASN], calpastatin [CAST], high mobility group AT-hook 1 [HMGA1], and melanocortin-4 receptor [MC4R]) and meat quality traits of Duroc breeding stocks in Korea. A total of 200 purebred Duroc gilts from 8 sires and 40 dams at 4 pig breeding farms from 2010 to 2011 reaching market weight (110 kg) were slaughtered and their carcasses were chilled overnight. Longissimus dorsi muscles were removed from the carcass after 24 h of slaughter and used to determine pork properties including carcass weight, backfat thickness, moisture, intramuscular fat, pH24h, shear force, redness, texture, and fatty acid composition. The PRKAG3, FASN, CAST, and MC4R gene SNPs were significantly associated with the meat quality traits (p<0.003). The meats of PRKAG3 (A 0.024/G 0.976) AA genotype had higher pH, redness and texture than those from PRKAG3 GG genotype. Meats of FASN (C 0.301/A 0.699) AA genotype had higher backfat thickness, texture, stearic acid, oleic acid and polyunsaturated fatty acid than FASN CC genotype. While the carcasses of CAST (A 0.373/G 0.627) AA genotype had thicker backfat, and lower shear force, palmitoleic acid and oleic acid content, they had higher stearic acid content than those from the CAST GG genotype. The MC4R (G 0.208/A 0.792) AA genotype were involved in increasing backfat thickness, carcass weight, moisture and saturated fatty acid content, and decreasing unsaturated fatty acid content in Duroc meat. These results indicated that the five SNP markers tested can be a help to select Duroc breed to improve carcass and meat quality properties in crossbred pigs. PMID:27507182

  8. Relationships between Single Nucleotide Polymorphism Markers and Meat Quality Traits of Duroc Breeding Stocks in Korea.

    Science.gov (United States)

    Choi, J S; Jin, S K; Jeong, Y H; Jung, Y C; Jung, J H; Shim, K S; Choi, Y I

    2016-09-01

    This study was conducted to determine the relationships of five intragenic single nucleotide polymorphism (SNP) markers (protein kinase adenosine monophosphate-activated γ3 subunit [PRKAG3], fatty acid synthase [FASN], calpastatin [CAST], high mobility group AT-hook 1 [HMGA1], and melanocortin-4 receptor [MC4R]) and meat quality traits of Duroc breeding stocks in Korea. A total of 200 purebred Duroc gilts from 8 sires and 40 dams at 4 pig breeding farms from 2010 to 2011 reaching market weight (110 kg) were slaughtered and their carcasses were chilled overnight. Longissimus dorsi muscles were removed from the carcass after 24 h of slaughter and used to determine pork properties including carcass weight, backfat thickness, moisture, intramuscular fat, pH24h, shear force, redness, texture, and fatty acid composition. The PRKAG3, FASN, CAST, and MC4R gene SNPs were significantly associated with the meat quality traits (p<0.003). The meats of PRKAG3 (A 0.024/G 0.976) AA genotype had higher pH, redness and texture than those from PRKAG3 GG genotype. Meats of FASN (C 0.301/A 0.699) AA genotype had higher backfat thickness, texture, stearic acid, oleic acid and polyunsaturated fatty acid than FASN CC genotype. While the carcasses of CAST (A 0.373/G 0.627) AA genotype had thicker backfat, and lower shear force, palmitoleic acid and oleic acid content, they had higher stearic acid content than those from the CAST GG genotype. The MC4R (G 0.208/A 0.792) AA genotype were involved in increasing backfat thickness, carcass weight, moisture and saturated fatty acid content, and decreasing unsaturated fatty acid content in Duroc meat. These results indicated that the five SNP markers tested can be a help to select Duroc breed to improve carcass and meat quality properties in crossbred pigs.

  9. Estimating the incidence of equine viral arteritis and the sensitivity of its surveillance in the French breeding stock.

    Science.gov (United States)

    Amat, J P; Vergne, T; Tapprest, J; Ferry, B; Hans, A; Hendrikx, P; Dufour, B; Leblond, A

    2016-08-30

    Equine viral arteritis (EVA) may have serious economic impact on the equine industry. For this reason, it is monitored in many countries, especially in breeding stock, to avoid its spread during breeding activities. In France, surveillance is mainly based on serological tests, since mares are not vaccinated, but difficulties in interpreting certain series of results may impair the estimation of the number of outbreaks. In this study, we propose specific rules for identifying seroconversion in order to estimate the number of outbreaks that were detected by the breeding stock surveillance component (BSSC) in France between 2006 and 2013. A consensus among multidisciplinary experts was reached to consider seroconversion as a change in antibody titer from negative to at least 32, or as an eight-fold or greater increase in antibody level. Using these rules, 239 cases and 177 outbreaks were identified. Subsequently, we calculated the BSSC's sensitivity as the ratio of the number of detected outbreaks to the total number of outbreaks that occurred in breeding stock (including unreported outbreaks) estimated using a capture-recapture model. The total number of outbreaks was estimated at 215 (95% credible interval 195-249) and the surveillance sensitivity at 82% (CrI95% 71-91). Our results confirm EVA circulation in French breeding stock, show that neutralizing antibodies can persist up to eight years in naturally infected mares and suggest that certain mares have been reinfected. This study shows that the sensitivity of the BSSC is relatively high and supports its relevance to prevent the disease spreading through mating.

  10. Stock structure, connectivity and breeding sex ratios of eastern Pacific hawksbills

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — This project, initiated with FY13 funds and extended with FY14 funds, will determine stock structure, connectivity the latter only evident in Central American...

  11. Long-term changes in nutrients and mussel stocks are related to numbers of breeding eiders Somateria mollissima at a large Baltic colony.

    Directory of Open Access Journals (Sweden)

    Karsten Laursen

    Full Text Available BACKGROUND: The Baltic/Wadden Sea eider Somateria mollissima flyway population is decreasing, and this trend is also reflected in the large eider colony at Christiansø situated in the Baltic Sea. This colony showed a 15-fold increase from 1925 until the mid-1990's, followed by a rapid decline in recent years, although the causes of this trend remain unknown. Most birds from the colony winter in the Wadden Sea, from which environmental data and information on the size of the main diet, the mussel Mytilus edulis stock exists. We hypothesised that changes in nutrients and water temperature in the Wadden Sea had an effect on the ecosystem affecting the size of mussel stocks, the principal food item for eiders, thereby influencing the number of breeding eider in the Christiansø colony. METHODOLOGY/PRINCIPAL FINDING: A positive relationship between the amount of fertilizer used by farmers and the concentration of phosphorus in the Wadden Sea (with a time lag of one year allowed analysis of the predictions concerning effects of nutrients for the period 1925-2010. There was (1 increasing amounts of fertilizer used in agriculture and this increased the amount of nutrients in the marine environment thereby increasing the mussel stocks in the Wadden Sea. (2 The number of eiders at Christiansø increased when the amount of fertilizer increased. Finally (3 the number of eiders in the colony at Christiansø increased with the amount of mussel stocks in the Wadden Sea. CONCLUSIONS/SIGNIFICANCE: The trend in the number of eiders at Christiansø is representative for the entire flyway population, and since nutrient reduction in the marine environment occurs in most parts of Northwest Europe, we hypothesize that this environmental candidate parameter is involved in the overall regulation of the Baltic/Wadden Sea eider population during recent decades.

  12. Productive responses of breeding Cashmere goats and their kids to different stocking rates on improved upland pastures.

    Science.gov (United States)

    Celaya, R; Moreno-Gonzalo, J; López López, C; Ferreira, L M M; García, U; Ferre, I; Osoro, K

    2016-03-01

    Although goat meat production could be an option for diversification in improved upland pastures in northern Spain, precise information on the optimal grazing management to enhance goat performance and maximize production per unit land area is lacking. The objective of this study was to compare the effects of 3 stocking rates, high stocking rate (HSR; 20 goats/ha), medium stocking rate (MSR; 15 goats/ha), and low stocking rate (LSR; 10 goats/ha), on gastrointestinal (GI) nematode infections and productive responses of Cashmere goats grazing such pastures. Treatments were replicated twice on 6 paddocks sown with and and with a high presence of the native grass . The experiment lasted 3 grazing seasons (from spring to autumn). Pastures were sampled for sward height and botanical and proximate composition. Body weight and BCS changes of goats were monitored and GI nematode infections were assessed by fecal egg counts (FEC). The established treatments resulted in lower mean sward height in the HSR than in the MSR and LSR (9.6, 11.5, and 14.4 cm, respectively; goats/ha could represent the best compromise between animal health, performance, and productivity per unit land area in this type of upland pastures, but stricter controls of parasite levels during the grazing season would be necessary to avoid production losses, unless alternative nutraceuticals are provided. PMID:27065288

  13. 基于能繁母猪存栏量和猪粮价比的猪肉价格预报%Pork price forecast based on breeding sow stocks and hog-grain price ratio

    Institute of Scientific and Technical Information of China (English)

    孙建明

    2013-01-01

      Hog market is full competitive in China. There are obvious and regular cyclical feature in the fluctuation of pork price. Since 2003, pork prices have experienced over two full cycles, the time intervals between the adjacent price valleys are 36 months and 41 months, and the lengths between the adjacent price peak are 41 months and 43 months. Taking both price peak and valley intervals into account, the average length of the cycles is approximately 40 months. Hog production has its own specific regularity that producers enlarge their production scales when profit rate increases, reduce scales in contrast. Breeding sow stocks are the keys of the hog production scale changes. Increase or decrease of breeding sow stock will cause pork supply changes in 10 months because of the rules of hog production. Granger causality test results show that current pork price and current hog-grain price ratio are unidirectional Granger causality to current breeding sow stocks, breeding sow stocks and hog-grain price ratios 10 months ago are unidirectional Granger causality to current pig prices. The contribution of this paper is the multiplicative pork price forecast models which synthesize seasonal factor, trend factor and cyclical factor based on breeding sow stock deviations and hog-grain price ratio deviation 10 months ago. Long term trend equation of pork price is a linear function of time. By using least squares method and pork price time series data, the trend equation parameters can be obtained. The calculations of each month pork price devided by the Feb pork price in the same year separately are the seasonal factor values in one year. Averaging the same month seasonal factors of different years, we get seasonal pork price feature curve, fit the curve with a sine function in which the length of cycle is 12 months. Deviding real pork prices by long term trend prices and seasonal feature fitting values of the same month, cyclical factor curve is obtained. The cyclical

  14. Stock evaluation and development of a breeding program for common carp (Cyprinus carpio) in Karnataka, India: progress of a research project

    OpenAIRE

    Basavaraju, Y.; Penman, D.J.; Mair, G.C.

    2003-01-01

    Common carp (Cyprinus carpio) is the single most important species for aquaculture in the state of Karnataka, India, where it is generally grown in polyculture with Indian major carps. Precocious maturation and unwanted reproduction in the species have been identified as constraints to increase production in aquaculture and culture-based fisheries in Karnataka state. Stocks of C. carpio obtained from Hungary (Amur and P3), Indonesia (Rajdanu) and Vietnam (SV) are being assessed alongside two ...

  15. Selective breeding in organic dairy production

    NARCIS (Netherlands)

    Nauta, W.J.

    2009-01-01

    Organic dairy farming started to take off in the early 1990s, when the European Union laid down organic standards for animal production. Until now, however, only incidental steps have been taken towards organic breeding and organic farmers mainly use breeding stock from conventional breeding program

  16. Strategy and Opportunity for The Development of Duck Breeding Farm

    Directory of Open Access Journals (Sweden)

    L Hardy Prasetyo

    2006-09-01

    Full Text Available The recent development of duck farming requires the availability of good quality breeding stocks commercially in order to improve productivity and efficiency . Presently, there is no commercial duck breeding farm which can produce good quality breeding stocks . This article presents information on alternatives in developing duck breeding farm, particularly for layer ducks . There are two alternative approaches in duck breeding farms : (1 Group breeding farm, which belongs to duck farmers' group, as part of a group production system, and (2 Commercial breeding farm, by an individual private company/Semi-Government Institution in a commercial scale and particularly for export market . A good breeding farm requires appropriate systems for selection and mating of the animals in order to guarantee the quality of the breeding stocks being produced . A breeding farm must be economically and technically feasible as an economic entity, so that economic analysis and marketing must be prepared seriously.

  17. Stock Markets

    Institute of Scientific and Technical Information of China (English)

    亚玲

    2005-01-01

    There are stock markets in large cities in many countries. Stock markets in Paris, London, Tokyo, Shanghai and New York are among the largest and most well-known. The stock market, also called stock exchange, is a place where people can buy or sell shares of a factory or company. And each share means certain ownership of a factory or company.

  18. Selective Breeding in Organic Dairy Production

    OpenAIRE

    Nauta, W.J.

    2009-01-01

    Organic dairy farming started to take off in the early 1990s, when the European Union laid down organic standards for animal production. Until now, however, only incidental steps have been taken towards organic breeding and organic farmers mainly use breeding stock from conventional breeding programmes. This thesis focuses on the possibilities for breeding in organic dairy farming. This thesis starts with describing the basic backgrounds of organic dairy farming and the results of a study ...

  19. Stock Status

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — These data inform the public of the most recent stock status for all stocks (FSSI and non-FSSI) in the fishery management unit contained in a fishery managment...

  20. Genetic characterization of Russian honey bee stock selected for improved resistance to Varroa destructor

    Science.gov (United States)

    Maintenance of genetic diversity among breeding lines is important in selective breeding and stock management. The Russian Honey Bee Breeding Program has strived to maintain high levels of heterozygosity among its breeding lines since its inception in 1997. After numerous rounds of selection for res...

  1. Physiological breeding.

    Science.gov (United States)

    Reynolds, Matthew; Langridge, Peter

    2016-06-01

    Physiological breeding crosses parents with different complex but complementary traits to achieve cumulative gene action for yield, while selecting progeny using remote sensing, possibly in combination with genomic selection. Physiological approaches have already demonstrated significant genetic gains in Australia and several developing countries of the International Wheat Improvement Network. The techniques involved (see Graphical Abstract) also provide platforms for research and refinement of breeding methodologies. Recent examples of these include screening genetic resources for novel expression of Calvin cycle enzymes, identification of common genetic bases for heat and drought adaptation, and genetic dissection of trade-offs among yield components. Such information, combined with results from physiological crosses designed to test novel trait combinations, lead to more precise breeding strategies, and feed models of genotype-by-environment interaction to help build new plant types and experimental environments for future climates. PMID:27161822

  2. Simulated Breeding

    Science.gov (United States)

    Unemi, Tatsuo

    This chapter describes a basic framework of simulated breeding, a type of interactive evolutionary computing to breed artifacts, whose origin is Blind Watchmaker by Dawkins. These methods make it easy for humans to design a complex object adapted to his/her subjective criteria, just similarly to agricultural products we have been developing over thousands of years. Starting from randomly initialized genome, the solution candidates are improved through several generations with artificial selection. The graphical user interface helps the process of breeding with techniques of multifield user interface and partial breeding. The former improves the diversity of individuals that prevents being trapped at local optimum. The latter makes it possible for the user to fix features he/she already satisfied. These methods were examined through artistic applications by the author: SBART for graphics art and SBEAT for music. Combining with a direct genome editor and exportation to another graphical or musical tool on the computer, they can be powerful tools for artistic creation. These systems may contribute to the creation of a type of new culture.

  3. Breeding hop

    OpenAIRE

    Langrová, Kristýna

    2012-01-01

    Summary The subject of the provided extended essay is Hop Breeding. The work is aimed at the hops biology. Concretely it describes the biology and morfology of hop plant, underground and above-ground part of the plant, infructescence and inflorescence, the morphology and chemical composition of the head. Subsequently it defines qualitative characteristics of hops head, surcharges and substractions of damaged or destroyed hops. It describes a new system of hop certification and imp...

  4. Application of RAPD technology for identification in three different stocks of Penaeus chinensis

    Institute of Scientific and Technical Information of China (English)

    Liu Zhenhui; Kong Jie; Liu Ping; Deng Jingyao

    2003-01-01

    The genetic structure of three stocks (K, H and S) of Penaeus chinensis was detected by RAPD method which useed 41 random oligonucleotide primers with 10 bases. Stock K was from the spawning stock of the western coastal waters of the Korea Peninsula, H was from the Huanghai SeaBohai Sea stock and S was from the health cultured stock in Jimo, Shandong Province, China. Three genetic markers, F- 02540, OPN - 13800 and OPN - 202200, which could differentiate the three different stocks, have been reported. The basic data for marker assisted selection (MAS) on genetic breeding of Penaeus chinensis are provided.

  5. TEMPERAMENT OF DIFFERENT GOAT BREEDS

    Directory of Open Access Journals (Sweden)

    SZABINA NÉMETH

    2013-07-01

    Full Text Available The authors completed temper research among Alpine (n=62, Sanental (n=54 and Selected Hungarian breeds originated from a Győr-Moson-Sopron County’s goat stock-farm. The most important aim of the sample survey was the determination of the relation between the temper and age of the three examined goat breeds.The temper estimation was fulfilled by scales-test assistance (the estimation of the animal’s behavior in a 1-5 point range standing on a scales during 30 seconds. The average age of the examined goats (n=181 was 3,17±1,79 years (Sanental: 3,74±1,94; Alpine: 2,66±1,61; Selected Hungarian : 3,21±1,69 year. The average temper of the examined species was 2,77±0,97. The smallest difference compared to the average was found in case of the Alpine breed (2,72±0,86, while the received temper result was 2,28±0,90 by the Sanental and 3,24±0,94 by the Selected Hungarian breeds.Statistically proved negative relation was found during the age and temper classes compared research (P<0,01; r=-0,379, which means, that as the age goes further so decreases the animal’s temper.

  6. MODELING REGIONAL SYSTEMS OF BREEDING PIGS

    Directory of Open Access Journals (Sweden)

    Svinarev I. Y.

    2015-12-01

    Full Text Available The article contains the experience of the development of the methodology and the computer program for calculation of regional and local systems of pigs hybridization at the example of the Rostov region (Russia. Crossing the GP lines for F1 should be organized in multiplier farm, which may be separate farms and to be part of large commercial farms. For the production of F1 in a multiplier farm, we must breed a purebred specialized paternal and a maternal line, selected on the effect of combining ability. For the successful functioning of the system of hybridization, it is necessary to build a genetic pyramid, including breeding and genetic centers (nucleus farm, multiplier farm, reproducing the baseline. The article gives a detailed calculation of sow population of levels of P, GP, GGP for maternal and paternal breeds of pigs. The program uses user-defined parameters of pigs productivity, of the simulated population, and the parameters characterizing the intensity of selection of young animals. To ensure annual production of 1,822 million pigs in the Rostov region it is necessary to provide the availability of brood stock in the amount of 89 thousand heads, 6 800 heads in the structure of grandparent flocks (GP, 730 heads in the structure of the Grand-Grand-parent stock (GGP, excluding sows second maternal and paternal breeds

  7. Stock Market Project.

    Science.gov (United States)

    Distel, Brenda D.

    This project is designed to teach students the process of buying stocks and to tracking their investments over the course of a semester. The goals of the course are to teach students about the relationships between conditions in the economy and the stock market; to predict the effect of an economic event on a specific stock or industry; to relate…

  8. Stock splits on the Athens Stock exchange

    OpenAIRE

    Μάλαμα, Στυλιανή

    2007-01-01

    This study is based on a sample of stock splits initiated by Greek firms between January 1st 1999 and April 30th 2006. We investigate the price reaction to Greek stock splits by applying the “market model methodology” as described in Brown and Warner (1985). Moreover, a cross- sectional analysis is presented so as to identify the factors that can explain any abnormal stock returns around split announcement. The rest of this study is organized as follows. Section 2 describes the...

  9. Buffaloes breeding in Brasil

    OpenAIRE

    O. Bernardes

    2010-01-01

    Differently from what one could formerly imagine, that buffalo breeding activity would be solely directed to fill the so called cattle breeding gaps determined by inadequate environmental conditions for ordinary cattle breeding, it has been actually seen that in those areas where breeders could successfully organize industrial-agricultural chains, either on meat or milk and its related products production, there has been an expressive expansion .Buffalo breeding has shown to be an important a...

  10. Market Structure and Stock Splits

    OpenAIRE

    David Michayluk; Paul Kofman

    2001-01-01

    Enhanced liquidity is one possible motivation for stock splits but empirical research frequently documents declines in liquidity following stock splits. Despite almost thirty years of inquiry, little is known about all the changes in a stock's trading activity following a stock split. We examine how liquidity measures change around more than 2,500 stock splits and find a pervasive decline in most measures. Large stock splits exhibit a more severe liquidity decline than small stock splits, esp...

  11. Animal breeding in organic dairy farming : an inventory of farmers' views and difficulties to overcome

    OpenAIRE

    Nauta, W.J.; Groen, A.F.; Veerkamp, R.F.; Roep, D.; Baars, T.

    2005-01-01

    Currently, most organic dairy farmers in the Netherlands use conventional breeding methods and production stock. In view of the organic objective of closed chains, organic dairy farmers discussed in workshops the desirability and practical merits of different possible scenarios for realizing breeding programmes that are more in line with organic farming principles. Generally, farmers concluded that there is a need for organic breeding practices to support the sector's credibility towards cons...

  12. Stock Splits, A Survey

    OpenAIRE

    Yildizhan, Celim

    2006-01-01

    In this survey paper I summarize the literature's findings on the short-run and long-run effects of stock split announcements as well as what happens in the preceding and subsequent years around a stock split event. I also summarize how firm characteristics influence these results. Furthermore, I discuss the various theories regarding why splits occur and why stock return distributions change subsequent to split events. I specifically focus on the changes in the first and second moments of st...

  13. Indication of two Pacific walrus stocks from whole tooth elemental analysis

    Science.gov (United States)

    Jay, C.V.; Outridge, P.M.; Garlich-Miller, J. L.

    2008-01-01

    The Pacific walrus (Odobenus rosmarus divergens) is considered to be a single panmictic population for management purposes. However, studies on population structuring in this species are limited; in part, because portions of the population's range are often inaccessible. Therefore, alternative and complementary methods for investigating stock structure in the Pacific walrus are of particular interest. We used measures of elemental concentrations in whole tooth sections from ICP-MS in a discriminant analysis to investigate evidence of stock separation between walruses from two of three known breeding areas (S.E. Bering, St Lawrence, and Anadyr Gulf). Elemental compositions of teeth from female and male walruses from the S.E. Bering and St Lawrence breeding areas were significantly different, providing evidence of separate stocks. We also obtained insights into the potential relation of walruses from non-breeding areas to walruses from these breeding groups based on similarities in their dental elemental profiles. ?? 2008 Springer-Verlag.

  14. Indigenous knowledge of animal breeding and breeds

    OpenAIRE

    I. Kohler-Rollefson

    2004-01-01

    Indigenous knowledge of animal breeding (IK-AB) includes concepts and practices used to influence the genetic composition of herds. Indigenous selection is often based on preferences based on physical characteristics, vigor, social and economic insurance. This issue paper summarizes the value of indigenous knowledge and local breeds to achieve agricultural sustainability. Links to IK-AB information are also provided. Available in SANREM office, ES

  15. The Differences Between Stock Splits and Stock Dividends

    OpenAIRE

    Bechmann, Ken L.; Raaballe, Johannes

    2004-01-01

    Abstract It is often asserted that stock splits and stock dividends are purely cosmetic events. However, many studies have documented several stock market effects associated with stock splits and stock dividends. This paper examines the effects of these two types of events for the Danish stock market. Consistent with the existing literature, the two events are associated with a significantly positive announcement effect of ap- proximately 2.5%. However, when examining the tw...

  16. The Differences Between Stock Splits and Stock Dividends

    OpenAIRE

    Bechmann, Ken L.; Raaballe, Johannes

    2004-01-01

    It is often asserted that stock splits and stock dividends are purely cosmetic events. However, many studies have documented several stock market effects associated with stock splits and stock dividends. This paper examines the effects of these two types of events for the Danish stock market. Consistent with the existing literature, the two events are associated with a significantly positive announcement effect of ap-proximately 2.5%. However, when examining the two events more carefully, sev...

  17. New Future for Stock Trading

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    Securities regulators formulated the risk-control mechanism prior to launch of stock index futures in China For three years Wang Liangguang, an experienced stock investor, waited patiently for the trading of stock index futures. And now, that day has

  18. Stocks Go Up

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    China's stock market comes alive with the resumption of new share issues Securities investors have reacted calmly after the industry regulator announced the resumption of initial public offerings (IPOs) on the Chinese stock market following a yearlong suspension, a move previously believed to hit the market by causing a drain in liquidity from the secondary to the primary market. According to the China Securities

  19. A Stock Market Project.

    Science.gov (United States)

    Anderson, Christine; Cook, Stan

    1990-01-01

    Offers a field-tested stock market unit designed to develop mathematical skills involving fractions and decimals, basic understanding of the stock market, and hypothesis testing skills in real world situations. Includes tables displaying questions, tally sheets, and instructions, as well as a list of related activities. (MDH)

  20. Genomic dairy cattle breeding

    DEFF Research Database (Denmark)

    Mark, Thomas; Sandøe, Peter

    2010-01-01

    it less accountable to the concern of private farmers for the welfare of their animals. It is argued that there is a need to mobilise a wide range of stakeholders to monitor developments and maintain pressure on breeding companies so that they are aware of the need to take precautionary measures to avoid...... these new genomic tools are especially useful for traits relating to animal welfare that are difficult to improve using traditional breeding tools, they may also facilitate breeding schemes with reduced generation intervals carrying a higher risk of unwanted side-effects on animal welfare. In this paper...... negative effects on animal welfare and to invest in breeding for increased animal welfare. Researchers are encouraged to further investigate the long-term effects of various breeding schemes that rely on genomic breeding values....

  1. Stock Implied Volatility, Stock Turnover, and the Stock-Bond Return Relation

    OpenAIRE

    Stivers, Chris; Sun, Licheng

    2002-01-01

    The authors examine how the co-movement between daily stock and Treasury bond returns varies with stock market uncertainty. They use the lagged implied volatility from equity index options to provide an objective, observable, and dynamic measure of stock market uncertainty. The authors find that stock and bond returns tend to move substantially together during periods of lower stock market uncertainty. However, stock and bond returns tend to exhibit little relation or even a negative relation...

  2. A multidisciplinary study of Jan Hendrik Stock (with the description of one new genus and four new species)

    NARCIS (Netherlands)

    Weinberg, Steven; Zijl, van Wil

    1990-01-01

    On the 22nd of October 1990, Prof.Dr. Jan Hendrik Stock will retire officially from the professorship of Special Zoology at the Institute of Taxonomic Zoology at the University of Amsterdam. Prof. Stock being a very rare sample of the already exotic breed of animal taxonomists, the authors decided t

  3. Stocks and shocks

    Directory of Open Access Journals (Sweden)

    Bert Scholtens

    2002-12-01

    Full Text Available How do stock markets respond to extreme events? This paper analyzes the reaction ofstock markets in four industrialized economies (Italy, the Netherlands, Sweden, the US to ten major international crises. We employ an event study to investigate whether the stock exchanges react differently with respect to extreme events such as the Chernobyl nuclear power plant meltdown, the Gulf War, the peso crisis, the Kosovo War or the 11/9 attack on the US. There is no substantial evidence that markets react differently to extreme events than to more ordinary news. We have significant evidence that there is no standard reaction of stock markets to extreme events.

  4. The Stock Market

    OpenAIRE

    Deca Claudiu

    2011-01-01

    The foundation and the establishment of the stock market express the emergence of the exchange relationships, and of the market as a defining structure of modern economy. The well-known French historian Fernand Brandel states that “the stock market is the last floor of a market, but that of a market which never ends”, of a market which includes and dominates the entire economic reality. Once with the acknowledgement of the stock market, the exchange relationships have reached the complete exp...

  5. Tritium breeding in fusion reactors

    Energy Technology Data Exchange (ETDEWEB)

    Abdou, M.A.

    1982-10-01

    Key technological problems that influence tritium breeding in fusion blankets are reviewed. The breeding potential of candidate materials is evaluated and compared to the tritium breeding requirements. The sensitivity of tritium breeding to design and nuclear data parameters is reviewed. A framework for an integrated approach to improve tritium breeding prediction is discussed with emphasis on nuclear data requirements.

  6. Honey bee stock genotypes do not affect the level of physiological responses to chalkbrood fungus, Ascosphaera apis.

    Science.gov (United States)

    Breeding honey bees (Apis mellifera) for physiological resistance to diseases is a highly desirable and environmentally safe approach to increasing colony survival. Selection of desirable traits is a critical element of any breeding program. In this study we investigate whether honey bee stocks dif...

  7. Tritium breeding materials

    International Nuclear Information System (INIS)

    Tritium breeding materials are essential to the operation of D-T fusion facilities. Both of the present options - solid ceramic breeding materials and liquid metal materials are reviewed with emphasis not only on their attractive features but also on critical materials issues which must be resolved

  8. Blackberry breeding and genetics

    Science.gov (United States)

    Blackberry (Rubus L. subgenus Rubus Watson) improvement has made substantial progress with over 400 cultivars named originating from wild selections to many releases from breeding efforts. Public breeding has been ongoing for over 100 years. The result of these improvements is commercial production ...

  9. Idiosyncratic volatility, stock market volatility, and expected stock returns

    OpenAIRE

    Hui Guo; Robert Savickas

    2005-01-01

    We find that the value-weighted idiosyncratic stock volatility and aggregate stock market volatility jointly exhibit strong predictive power for excess stock market returns. The stock market risk-return relation is found to be positive, as stipulated by the CAPM; however, idiosyncratic volatility is negatively related to future stock market returns. Also, idiosyncratic volatility appears to be a pervasive macrovariable, and its forecasting abilities are very similar to those of the consumptio...

  10. Buffaloes breeding in Brasil

    Directory of Open Access Journals (Sweden)

    O. Bernardes

    2010-02-01

    Full Text Available Differently from what one could formerly imagine, that buffalo breeding activity would be solely directed to fill the so called cattle breeding gaps determined by inadequate environmental conditions for ordinary cattle breeding, it has been actually seen that in those areas where breeders could successfully organize industrial-agricultural chains, either on meat or milk and its related products production, there has been an expressive expansion .Buffalo breeding has shown to be an important alternative not only in farms of higher technological level as also , and mainly, on small farms where it has become a key factor for increasing the average income, besides keeping labor force in country areas. This article intends to point out and examine some aspects of buffalo breeding and its potentialities in Brazil.

  11. Breeding without Mendelism: theory and practice of dairy cattle breeding in the Netherlands 1900-1950.

    Science.gov (United States)

    Theunissen, Bert

    2008-01-01

    In the 1940s and 1950s, Dutch scientists became increasingly critical of the practices of commercial dairy cattle breeders. Milk yields had hardly increased for decades, and the scientists believed this to be due to the fact that breeders still judged the hereditary potential of their animals on the basis of outward characteristics. An objective verdict on the qualities of breeding stock could only be obtained by progeny testing, the scientists contended: the best animals were those that produced the most productive offspring. Some scientists had been making this claim since the beginning of the twentieth century. Why was it that their advice was apparently not heeded by breeders for so long? And what were the methods and beliefs that guided their practices? In this paper I intend to answer these questions by analysing the practical realities of dairy farming and stock breeding in The Netherlands between 1900 and 1950. Breeders continued to employ traditional breeding methods that had proven their effectiveness since the late eighteenth century. Their methods consisted in inbreeding--breeding in 'bloodlines,' as they called it--and selection on the basis of pedigree, conformation and milk recording data. Their aims were 'purity' and 'uniformity' of type. Progeny testing was not practiced due to practical difficulties. Before World War II, scientists acknowledged that genetic theory was of little practical use to breeders of livestock. Still, hereditary theory was considered to be helpful to assess the value of the breeders' methods. For instance, striving for purity was deemed to be consistent with Mendelian theory. Yet the term purity had different connotations for scientists and practical workers. For the former, it referred to homozygosity; for the latter, it rather buttressed the constancy of a distinct commercial 'brand.' Until the 1940s, practical breeders and most scientists were agreed that selecting animals purely for production was ill-advised. Cows of

  12. New Future for Stock Trading

    Institute of Scientific and Technical Information of China (English)

    LAN XINZHEN

    2010-01-01

    @@ For three years Wang Liangguang,an cxperienced stock investor,waited patiently for the trading of stock index futures.And now,that day has arrived-stock index futures will soon be launched on Chinese financial market.The China Securities Regulatory Commission (CSRC) may officially launch stock index futures as soon as May.

  13. Trading network predicts stock price.

    Science.gov (United States)

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi

    2014-01-16

    Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices.

  14. Trading Network Predicts Stock Price

    Science.gov (United States)

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi

    2014-01-01

    Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices.

  15. Vietnam stock market liberalisation's effect

    OpenAIRE

    Khuc, Minh Hieu

    2008-01-01

    This dissertation examine the effect of stock market liberalisation upon the Vietnam economy and shows the changes during liberalisation period. The stock return and stock return volatility were tested using a generalized autoregressive conditional heteroskedasticity model. The stock return was found to be increased after market was liberalised. The stock return volatility, however show no sign of increasing. The effect upon economic growth, inflation and private investment growth was also d...

  16. Captive breeding programs based on family groups in polyploid sturgeons.

    Science.gov (United States)

    Boscari, Elisa; Pujolar, Jose Martin; Dupanloup, Isabelle; Corradin, Riccardo; Congiu, Leonardo

    2014-01-01

    In species with long life cycles and discontinuous availability of individuals to reproduction, implementing a long-term captive breeding program can be difficult or impossible. In such cases, managing diversity among familiar groups instead of individuals could become a suitable approach to avoid inbreeding and increase the possibility to accomplish a breeding scheme. This is the case of several sturgeon species including the Adriatic sturgeon, whose recovery depends on the management of a few captive stocks directly descended from the same group of wild parents. In the present study, relatedness among 445 potential breeders was inferred with a novel software for pedigree reconstruction in tetraploids ("BreedingSturgeons"). This information was used to plan a breeding scheme considering familiar groups as breeding units and identifying mating priorities. A two-step strategy is proposed: a short-term breeding program, relying on the 13 remaining F0 individuals of certain wild origin; and a long-term plan based on F1 families. Simulations to evaluate the loss of alleles in the F2 generation under different pairing strategies and assess the number of individuals to breed, costs and logistical aquaculture constraints were performed. The strategy proposed is transferable to the several other tetraploid sturgeon species on the brink of extinction.

  17. PRINCIPLES OF ANIMAL BREEDING

    Directory of Open Access Journals (Sweden)

    Sonja Jovanovac

    2014-06-01

    Full Text Available University textbook Principles of Animal Breeding is intended for students of agriculture and veterinary medicine. The material is the adapted curricula of undergraduate and graduate level studies in the framework of which the modules Principles of animal breeding as well as Basics of genetics and selection of animals attended are listened. The textbook contains 14 chapters and a glossary of terms. Its concept enables combining fundamental and modern knowledge in the breeding and selection of animals based on balanced and quality manner. The textbook material can be divided into several thematic sections. The first one relates to the classical notions of domestic animals breeding such as the history of breeding, domestication, breed, hereditary and non-hereditary variability and description of general and production traits. The second section focuses on the basic concepts in population and quantitative genetics, as well as biometrics. The third unit is dedicated to the principles of selection and domestic animals improving. The fourth unit relates to the current concepts and objectives of the molecular markers use in domestic animals selection and breeding. The above material has been submitted to the Croatian universities, but so far it has not been published as a textbook. The Ministry of Science, Education and Sports of Republic of Croatia approved financial support for the textbook publication.

  18. EFFECTS OF STOCK SPLIT ON STOCK LIQUIDITY AND STOCK PRICE OPTIMALITY OF COMPANIES QUOTED AT NAIROBI STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    MR. SIMON KAMAU GATEI

    2012-11-01

    Full Text Available A number of researchers have found a stock split is normally followed by either positive abnormal returns or increased stock liquidity or both. However other researchers such as Murray (1985 and Bley (2002 found results that are contrary to this. The objective of this paper was to assess the consequence of stock splits on stock liquidity of Kenyan firms quoted at the NSE.The research was a causal study with a trend analytical design aimed at determining the relationship between the stock liquidity positions as a result of the stock split event. The population consisted of all companies quoted in the NSE that had undertaken a stock split between the years of 2005 and 2011. The data used was secondary data on daily volumes of stock traded and daily closing stock prices that was retrieved from the NSE website. The model used for data analysis was the Amivest liquidity ratio which was developed by cooper Groth and Avera (1985. This model measured the shillings volume traded for each 1% change in stock price. The data analysis package used was Excel spread sheet.The results from the study found out that generally the liquidity of stock, as measured by the Amivest liquidity ratio, is relatively higher in the days before the stock split than in the days after the stock split. It was also observed that liquidity tends to be lowest in the days around the stock split. Generally the aggregate liquidity position in the month before the stock split was found to be higher than in the month after the stock split.It was also observed that after the stock split, stock price showed optimality by trading at a relatively constant stock price in almost all the companies.

  19. Garlic breeding system innovations

    NARCIS (Netherlands)

    Zheng, S.J.; Kamenetsky, R.; Féréol, L.; Barandiaran, X.; Rabinowitch, H.D.; Chovelon, V.; Kik, C.

    2007-01-01

    This review outlines innovative methods for garlic breeding improvement and discusses the techniques used to increase variation like mutagenesis and in vitro techniques, as well as the current developments in florogenesis, sexual hybridization, genetic transformation and mass propagation. Sexual ste

  20. Birds - Breeding [ds60

    Data.gov (United States)

    California Department of Resources — This data set provides access to information gathered on annual breeding bird surveys in California using a map layer developed by the Department. This data layer...

  1. Commodities and Stock Investment

    Directory of Open Access Journals (Sweden)

    Syed Jawad Hussain Shahzad

    2014-09-01

    Full Text Available This study is a multivariate analysis of commodities and stock investment in a newly established market scenario. Return distribution asymmetry is examined with higher order movements. Skewness in commodity future’s return is largely insignificant, whereas kurtosis is highly significant for both stock and commodity future contracts. Correlation analysis is done with Pearson’s and Kendall’s tau measures. Commodities provide significant diversification benefits when added in a portfolio of stocks. Compared with stocks, commodity future’s returns show stronger correlation with unexpected inflation. The volatility is measured through Glosten-Jagannathan-Runkle - Generalized Autoregressive Conditional Heteroskedasticity (GJR-GARCH model and reflects that commodities have inverted asymmetric behavior, that is, more impact from the upward shocks compared with downward. Stocks have asymmetric volatility, that is, more impact from negative shocks compared with positive. Gold has highest inverted asymmetric volatility. Tail dependence, measured through Student’s t copula, shows no combined downside movement. In conclusion, commodity investments provide diversification and inflation protection.

  2. Breeding for disease resistance

    OpenAIRE

    Pinard-van der Laan, Marie-Helene

    2013-01-01

    In the context of intensification and specialization of poultry production, next to welfare regulation on animal breeding, animal health issues are of increasing importance to the breeding sector because of the huge related production losses. But animal health and welfare issues are also of importance to the consumers because of potential effects on their own health and their lifestyle choices. Most effective disease control strategies should be developed in an integrated animal health manage...

  3. PRINCIPLES OF ANIMAL BREEDING

    OpenAIRE

    Sonja Jovanovac

    2014-01-01

    University textbook Principles of Animal Breeding is intended for students of agriculture and veterinary medicine. The material is the adapted curricula of undergraduate and graduate level studies in the framework of which the modules Principles of animal breeding as well as Basics of genetics and selection of animals attended are listened. The textbook contains 14 chapters and a glossary of terms. Its concept enables combining fundamental and modern knowledge in the ...

  4. Welfare in horse breeding

    OpenAIRE

    Campbell, M L H; Sandøe, Peter

    2015-01-01

    Welfare problems related to the way horses are bred, whether by coitus or by the application of artificial reproduction techniques (ARTs), have been given no discrete consideration within the academic literature. This paper reviews the existing knowledge base about welfare issues in horse breeding and identifies areas in which data is lacking. We suggest that all methods of horse breeding are associated with potential welfare problems, but also that the judicious use of ARTs can sometimes hel...

  5. STOCK SPLITS AND ADVERSE SELECTION

    OpenAIRE

    Sara Soltanizadeh; Abhishek Rokade

    2015-01-01

    What impact can the market expect from a stock split announcement? This paper delves into the effect of stock split announcements on the immediate excess return over the market for stocks in the US market by considering stock splits over a span of 35 years from 1980 to 2014 across different industries.   We find that the average market reaction to stock splits announcement is 1.5%. We also find that excess return over the market after stock split announcement is negatively correlat...

  6. Detection of Breeding Blankets Using Antineutrinos

    Science.gov (United States)

    Cogswell, Bernadette; Huber, Patrick

    2016-03-01

    The Plutonium Management and Disposition Agreement between the United States and Russia makes arrangements for the disposal of 34 metric tons of excess weapon-grade plutonium. Under this agreement Russia plans to dispose of its excess stocks by processing the plutonium into fuel for fast breeder reactors. To meet the disposition requirements this fuel would be burned while the fast reactors are run as burners, i.e., without a natural uranium blanket that can be used to breed plutonium surrounding the core. This talk discusses the potential application of antineutrino monitoring to the verification of the presence or absence of a breeding blanket. It is found that a 36 kg antineutrino detector, exploiting coherent elastic neutrino-nucleus scattering and made of silicon, could determine the presence of a breeding blanket at a liquid sodium cooled fast reactor at the 95% confidence level within 90 days. Such a detector would be a novel non-intrusive verification tool and could present a first application of coherent elastic neutrino-nucleus scattering to a real-world challenge.

  7. On Stock Right

    Institute of Scientific and Technical Information of China (English)

    潘雯

    2008-01-01

    The Company Law of 1993 is important in protecting the interests of both companies and shareholders. But on stock right, it always arouses heated debate among scholars. Before the promulgation of New Company Law of 2006, varieties of theories of this issue have been formed. Through analyzing and refuting those theories, I try to clear the ambiguous definition by explaining the essence of right and comparing related right, so as to reach the conclusion that the stock right is only the changeable form of the ownership of shareholders.

  8. Stocks, Junk and Pharmaceuticals

    Institute of Scientific and Technical Information of China (English)

    何伟文

    2004-01-01

    Stock analysts in the West have recently been taking a close look at markets in the East. Among their favourites were Chinese stock funds, even though the bourses in Shanghai and Shenzhen tumbled to historic lows. But of course it is the long-term promise that counts and given the rather sombre and gloomy economic mood in Europe, this most probably will make sense for the near and, hopefully, more distant future. Nevertheless, qualified foreign institutional investors should take precautions and in our Focus (pp.20) section we pose the question of how these investors should adjust their portfolios.

  9. Forecasting Stock Price in Tehran's Stock Market Using Evolutionary Strategies

    OpenAIRE

    Farshid Sabri; Abolfazl Mogadam

    2014-01-01

    This study aimed to forecast stock prices and daily stock returns of food products manufacturers, accepted in Tehran Stock Exchange, Using evolutionary strategies. The study was divided into two models. First, the time series of 14 variables related to price prediction, for a period of 5 years (2009 till 2013), was extracted to predict stock price. Then, the price for 19 statistical companies was calculated using evolutionary strategy and back propagation algorithm (Algorithm LM). In the used...

  10. The announcement effects of stock splits on stock prices

    OpenAIRE

    Κτιστάκη, Δέσποινα

    2001-01-01

    Listed firms often decide to split their stock, in which case they increase the number of shares outstanding by distributing more shares as dividends and adjusting respectively the nominal price of the stock, leaving however the total capital unaffected. In theory a stock split is merely an accounting change, which leaves investors no better or worse off than they were before the split. Yet stock splits are a relatively common corporate event. This implies that there must be some benefit eith...

  11. Evaluating the roles of directed breeding and gene flow in animal domestication

    OpenAIRE

    Marshall, Fiona B.; Dobney, Keith; Denham, Tim; Capriles, José M.

    2014-01-01

    For the last 150 y scholars have focused upon the roles of intentional breeding and genetic isolation as fundamental to understanding the process of animal domestication. This analysis of ethnoarchaeological, archaeological, and genetic data suggests that long-term gene flow between wild and domestic stocks was much more common than previously assumed, and that selective breeding of females was largely absent during the early phases of animal domestication. These findings challenge assumption...

  12. Broiler breeding : breeding goals, selection schemes and the usefulness of local breeds for China

    NARCIS (Netherlands)

    Jiang, X.

    1999-01-01

    This dissertation considers three aspects of broiler breeding: definition of breeding goals, selection schemes for specialized lines, and the usefulness of local breeds for China. Economic values in broiler breeding were derived based on a deterministic model. A systematic design for the application

  13. Stock Assessment Supplementary Information (SASINF)

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — In the interest of efficiency, clarity and standardization of stock assessment materials, the stock assessment reports for the 2015 Groundfish update have been...

  14. Stock Issues in Aristotle's Rhetoric

    Science.gov (United States)

    Harpine, Bill

    1977-01-01

    Defines "stock issue" by the manner in which they function in Aristotle's theory, reviews examples of modern theories of stock issues, examines previous investigations of the "Rhetoric," and analyzes Aristotle's approach to this aspect of argumentation. (MH)

  15. Inventory and the Stock Market

    OpenAIRE

    Lai, Richard

    2006-01-01

    How does the stock market affect inventory decisions? The efficient markets view is that low stock price means poor fundamentals, a higher cost of capital, and lower inventory. Normatively, firms should obtain their cost of capital from an efficient markets model of stock prices. My study is motivated by the growing body of evidence that the stock market is not efficient and can temporarily mis-value firms. I report evidence that the market's behavioral component explains firms' inventory as ...

  16. Stock Market Savvy.

    Science.gov (United States)

    Okula, Susan

    2003-01-01

    This issue of Keying In, the newsletter of the National Business Education Association, focuses upon teaching young adults how to develop both investment strategies and an understanding of the stock market. The first article, "Sound Investing Know-How: A Must for Today's Young Adults," describes how young adults can plan for their own financial…

  17. Stocking Rates for Horse Pastures

    Science.gov (United States)

    Decision on which stocking rate to graze a horse pasture is critical, particularly if the forage is expected to meet the nutrient needs of the horses. Challenges and management for targeting the optimum stocking rate, defined as the stocking rate that allows forage consumption to approximately equ...

  18. Comparable stocks, boundedly rational stock markets and IPO entry rates.

    Directory of Open Access Journals (Sweden)

    Jay Chok

    Full Text Available In this study, we examine how initial public offerings (IPO entry rates are affected when stock markets are boundedly rational and IPO firms infer information from their counterparts in the market. We hypothesize a curvilinear relationship between the number of comparable stocks and initial public offerings (IPO entry rates into the NASDAQ Stock Exchange. Furthermore, we argue that trading volume and changes in stock returns partially mediates the relationship between the number of comparable stocks and IPO entry rates. The statistical evidence provides strong support for the hypotheses.

  19. Enhanced resistance of Portunus trituberculatus to Vibrio alginolyticus by selective breeding

    Science.gov (United States)

    Mu, Changkao; Liu, Shuai; Song, Weiwei; Li, Ronghua; Wang, Chunlin

    2012-07-01

    We established a line (screened) of Portunus trituberculatus by selectively breeding individuals that survived from challenge with Vibrio alginolyticus, and compared the response of screened and unscreened (control) P. trituberculatus challenged with V. alginolyticus. We measured superoxide dismutase, catalase, acid phosphatase, alkaline phosphatase, and peroxidase activity and the content of hemocyanin in the plasma and phenoloxidase activity in serum. The cumulative survival rate after 24-h challenge with V. alginolyticus was significantly higher in the screened crabs than in the unscreened crabs ( P <0.05). T-SOD and PO activity were significantly lower in the screened stock than in the unscreened stock ( P <0.05). POD, CAT, and ACP activity and hemocyanin content were significantly higher in the screened stock than in the unscreened stock. Our results suggest that the screened stock was more resistant to infection. Furthermore, the indices we measured may be used to evaluate the health state of P. trituberculatus.

  20. Welfare in horse breeding

    DEFF Research Database (Denmark)

    Campbell, M.L.H.; Sandøe, Peter

    2015-01-01

    Welfare problems related to the way horses are bred, whether by coitus or by the application of artificial reproduction techniques (ARTs), have been given no discrete consideration within the academic literature. This paper reviews the existing knowledge base about welfare issues in horse breeding...... and identifies areas in which data is lacking. We suggest that all methods of horse breeding are associated with potential welfare problems, but also that the judicious use of ARTs can sometimes help to address those problems. We discuss how negative welfare effects could be identified and limited and how...

  1. Precision animal breeding

    OpenAIRE

    Flint, A.P.F.; WOOLLIAMS, J. A.

    2007-01-01

    We accept that we are responsible for the quality of life of animals in our care. We accept that the activities of man affect all the living things with which we share this planet. But we are slow to realize that as a result we have a duty of care for all living things. That duty extends to the breeding of animals for which we are responsible. When animals are bred by man for a purpose, the aim should be to meet certain goals: to improve the precision with which breeding outcomes can be predi...

  2. EFFECTS OF STOCK SPLIT ON STOCK LIQUIDITY AND STOCK PRICE OPTIMALITY OF COMPANIES QUOTED AT NAIROBI STOCK EXCHANGE

    OpenAIRE

    MR. SIMON KAMAU GATEI; DR. WYCLIFFE NYARIBO MISUKO

    2012-01-01

    A number of researchers have found a stock split is normally followed by either positive abnormal returns or increased stock liquidity or both. However other researchers such as Murray (1985) and Bley (2002) found results that are contrary to this. The objective of this paper was to assess the consequence of stock splits on stock liquidity of Kenyan firms quoted at the NSE.The research was a causal study with a trend analytical design aimed at determining the relationship between the stock li...

  3. Evaluation of Egyptian sheep production systems: II. Breeding objectives for purebred and composite breeds.

    Science.gov (United States)

    Almahdy, H; Tess, M W; El-Tawil, E; Shehata, E; Mansour, H

    2000-02-01

    Objectives for this study were to estimate relative economic weights for performance traits for two native and two composite sheep breeds under two management systems in Egypt. Breeds studied were Rahmani (R), Ossimi (O), 3/4R-1/4Finnish Landrace (RFR), and 3/4O-1/4Finn (OFO); OFO and RFR were composite breeds. Management systems were one mating season per year (1M) and three mating seasons per 2 yr (3M). A dynamic computer model was used to simulate animal performance and enterprise efficiency and profit. Input parameters for the model were obtained from published results and analyses of data collected from experimental flocks of the same genetic stocks in Egypt. Responses for two measures of life-cycle feed conversion and one measure of enterprise profit were evaluated. Life-cycle feed conversion was calculated as kilograms of TDN input per kilogram of empty body weight output (TDN/EBW) and kilograms of TDN input per kilogram of carcass lean output (TDN/CLN). Profit was measured as annual gross margin/ewe (GM/EWE). Traits evaluated were conception rate (CR), lambing rate (LR), mortality rate (MR), mature weight (MW), and milk production (MK). Based on responses to percentage changes in trait means, CR was most important for TDN/EBW, followed by LR and MR. For TDN/CLN, LR, MR, and CR were most important. For GM/EWE, CR was most important, followed by LR, MW, and MR. In the systems studied, there was little response to changes in MK. Based on changes in GM/EWE per genetic standard deviation change, LR was most important, followed by CR, MR, MW, and MK in all systems. Relative economic weights for O and OFO were similar, as were weights for R and RFR. Differences in economic weights between management systems for the same breed were not large enough to justify separate selection lines within breeds. PMID:10709919

  4. Hop Cultivars and Breeding

    Science.gov (United States)

    Pest management decision making in hops varies among cultivars. Historically, the primary objective of hop breeding programs has been to increase the yield or characteristics associated with either bittering (high alpha-acids) or aroma (unique volatile oil profiles) cultivars. Other factors consid...

  5. Mutation breeding in mangosteen

    International Nuclear Information System (INIS)

    Mangosteen the queen of the tropical fruits is apomitic and only a cultivar is reported and it reproduces asexually. Conventional breeding is not possible and the other methods to create variabilities are through genetic engineering and mutation breeding. The former technique is still in the infantry stage in mangosteen research while the latter has been an established tool in breeding to improve cultivars. In this mutation breeding seeds of mangosteen were irradiated using gamma rays and the LD 50 for mangosteen was determined and noted to be very low at 10 Gy. After sowing in the seedbed, the seedlings were transplanted in polybags and observed in the nursery bed for about one year before planted in the field under old oil palm trees in Station MARDI, Kluang. After evaluation and screening, about 120 mutant mangosteen plants were selected and planted in Kluang. The plants were observed and some growth data taken. There were some mutant plants that have good growth vigour and more vigorous that the control plants. The trial are now in the fourth year and the plants are still in the juvenile stage. (Author)

  6. Penguin breeding in Edinburgh

    NARCIS (Netherlands)

    Gillespie, T.H.; F.R.S.E.,; F.Z.S.,

    1939-01-01

    The Scottish National Zoological Park at Edinburgh has been notably successful in keeping and breeding penguins. It is happy in possessing as a friend and benefactor, Mr Theodore E. Salvesen, head of the firm of Christian Salvesen & Co., Leith, to whose interest and generosity it owes the great numb

  7. Outlook '98 - Stock markets

    International Nuclear Information System (INIS)

    In view of the recent drop of some 20 per cent in energy stock prices, and the decline in the value of the Canadian dollar, forecasting oilpatch financing in 1998 is a risky undertaking. Based on a variety of relevant factors, it is expected that there will be a slowdown in oil and gas financing deals in the short term. On the other hand, longer term outlook is bullish, based on the huge capital requirements over the next few years for conventional projects, heavy oil, oilsands and pipelines projects. Corporate mergers and acquisitions will continue at about the same rate as in 1997, as companies attempt to achieve ''economies of scale'' and growth in the most economically sensible manner. Adding production and reserves through corporate transactions at the current lower stock prices will be a powerful incentive. Creative deal structuring will become more prevalent. Corporate reorganizations into separate companies in search of value maximization will increase

  8. Reverse breeding: a novel breeding approach based on engineered meiosis

    NARCIS (Netherlands)

    Dirks, R.; Dun, van K.P.M.; Snoo, de B.; Berg, van den M.; Lelivelt, C.L.C.; Voermans, W.; Woudenberg, L.; Wit, de J.P.C.; Reinink, K.; Schut, J.W.; Jong, de J.H.S.G.M.; Wijnker, T.G.

    2009-01-01

    Reverse breeding (RB) is a novel plant breeding technique designed to directly produce parental lines for any heterozygous plant, one of the most sought after goals in plant breeding. RB generates perfectly complementing homozygous parental lines through engineered meiosis. The method is based on re

  9. Gold, Oil, and Stocks

    OpenAIRE

    Baruník, Jozef; Kočenda, Evžen; Vácha, Lukáš

    2014-01-01

    We employ a wavelet approach and conduct a time-frequency analysis of dynamic correlations between pairs of key traded assets (gold, oil, and stocks) covering the period from 1987 to 2012. The analysis is performed on both intra-day and daily data. We show that heterogeneity in correlations across a number of investment horizons between pairs of assets is a dominant feature during times of economic downturn and financial turbulence for all three pairs of the assets under research. Heterogenei...

  10. A study on the effect of stock liquidity and stock liquidity risk on information asymmetry: Evidence from Tehran Stock Exchange

    OpenAIRE

    Mohammad Hassani; Najme Harati Nik

    2014-01-01

    This study investigates the effect of stock liquidity and stock liquidity risk on information asymmetry in Tehran Stock Exchange (TSE) listed companies. In this study, the bid-ask spread is considered as the criterion of information asymmetry. In addition, stock trade volume and the number of stock trades are considered as the criteria of stock liquidity. Some variables such as size, stock price, beta and growth are also considered as control variables. To test the hypotheses of the survey, 2...

  11. Mutation breeding newsletter. No. 45

    International Nuclear Information System (INIS)

    This issue of the Mutation Breeding newsletter contains 39 articles dealing with radiation induced mutations and chemical mutagenesis techniques in plant breeding programs with the aims of improving crop productivity and disease resistance as well as exploring genetic variabilities

  12. Animal breeding in organic dairy farming : an inventory of farmers' views and difficulties to overcome

    NARCIS (Netherlands)

    Nauta, W.J.; Groen, A.F.; Veerkamp, R.F.; Roep, D.; Baars, T.

    2005-01-01

    Currently, most organic dairy farmers in the Netherlands use conventional breeding methods and production stock. In view of the organic objective of closed chains, organic dairy farmers discussed in workshops the desirability and practical merits of different possible scenarios for realizing breedin

  13. Applying SNP marker technology in the cacao breeding program at the Cocoa Research Institute of Ghana

    Science.gov (United States)

    In this investigation 45 parental cacao plants and five progeny derived from the parental stock studied were genotyped using six SNP markers to determine off-types or mislabeled clones and to authenticate crosses made in the Cocoa Research Institute of Ghana (CRIG) breeding program. Investigation wa...

  14. Evolutionary model of stock markets

    Science.gov (United States)

    Kaldasch, Joachim

    2014-12-01

    The paper presents an evolutionary economic model for the price evolution of stocks. Treating a stock market as a self-organized system governed by a fast purchase process and slow variations of demand and supply the model suggests that the short term price distribution has the form a logistic (Laplace) distribution. The long term return can be described by Laplace-Gaussian mixture distributions. The long term mean price evolution is governed by a Walrus equation, which can be transformed into a replicator equation. This allows quantifying the evolutionary price competition between stocks. The theory suggests that stock prices scaled by the price over all stocks can be used to investigate long-term trends in a Fisher-Pry plot. The price competition that follows from the model is illustrated by examining the empirical long-term price trends of two stocks.

  15. Mutation breeding in peas

    International Nuclear Information System (INIS)

    The pea as an ancient crop plant still today has wide uses and is an import source of food protein. It is also an important object for genetic studies and as such has been widely used in mutation induction experiments. However, in comparison with cereals this ancient crop plant (like several other grain legumes) has gained relatively little from advances in breeding. The review focuses on the prospects of genetic improvement of pea by induced mutations, discusses principles and gives methodological information. (author)

  16. Universality in the stock exchange

    CERN Document Server

    Gonçalves, Rui

    2008-01-01

    We analyze the constituents stocks of the Dow Jones Industrial Average and the Standard & Poor's 100 index of the NYSE stock exchange market. Surprisingly, we discovered that the distribution of the fluctuations of the cubic root of the squared daily return are close to the universal non-parametric Bramwell-Holdsworth-Pinton (BHP) distribution. Since the BHP probability density function appears in several other dissimilar phenomena, our result reveals an universal feature of the stock exchange market.

  17. TOWARDS AN ISLAMIC STOCK MARKET

    OpenAIRE

    EL GAR, MOHAMED ALI

    1993-01-01

    This paper examines the functioning of the stock market from an Islamic perspective, and the need of an Islamic economy for capital markets and stock exchange with a view to assessing their roles in the Islamic economy. The basic questions of gambling, risk and options, all in relation to the operation of a stock exchange, are discussed to examine their permissibility from the shari'ah point of view.

  18. Stock Market Volatility under Sanctions

    OpenAIRE

    Hojatallah Goudarzi

    2014-01-01

    Since 1979, Iran has faced with unilateral and multilateral harsh sanctions due to its nuclear energy program. These sanctions have resulted in significant problem to both sanctioned and sanctioning parties. Given the fact that sanctions have had significant impacts on Iran’s economy and since Iran stock market is the barometer of its economy, it is assumed that sanctions affect the Iranian stock market as well. To test this hypothesis, this study studied the Iranian stock market volatility d...

  19. Stock Prices and IPO Waves

    OpenAIRE

    Pástor, Luboš; Veronesi, Pietro

    2003-01-01

    We develop a model of stock valuation and optimal IPO timing when investment opportunities are time-varying. IPO waves in our model are caused by declines in expected returns, increases in expected profitability, or increases in prior uncertainty about average profitability. The model predicts that IPO waves are preceded by high market returns, followed by low market returns, and accompanied by high stock prices. These as well as other predictions are supported empirically. Stock prices at th...

  20. Dividend Taxes and Stock Volatility

    OpenAIRE

    Ferris, Erin E. Syron

    2015-01-01

    How do dividend taxes affect stock volatility? In this paper, I use a decrease in dividend taxes as a natural experiment to identify their impact on firm's price volatility. If a risk-averse executive faces price risk through his incentive contract, changes in stock volatility due to dividend taxes may increase agency costs and therefore decrease overall welfare. Stock volatility decreased after the tax cut for firms where an executive has large holdings of shares and options relative to firm...

  1. An Overview of Ten Italian Horse Breeds through Mitochondrial DNA

    Science.gov (United States)

    Capodiferro, Marco Rosario; Capomaccio, Stefano; Buttazzoni, Luca; Biggio, Giovanni Paolo; Cherchi, Raffaele; Albertini, Emidio; Olivieri, Anna; Cappelli, Katia; Achilli, Alessandro; Silvestrelli, Maurizio

    2016-01-01

    Background The climatic and cultural diversity of the Italian Peninsula triggered, over time, the development of a great variety of horse breeds, whose origin and history are still unclear. To clarify this issue, analyses on phenotypic traits and genealogical data were recently coupled with molecular screening. Methodology To provide a comprehensive overview of the horse genetic variability in Italy, we produced and phylogenetically analyzed 407 mitochondrial DNA (mtDNA) control-region sequences from ten of the most important Italian riding horse and pony breeds: Bardigiano, Esperia, Giara, Lipizzan, Maremmano, Monterufolino, Murgese, Sarcidano, Sardinian Anglo-Arab, and Tolfetano. A collection of 36 Arabian horses was also evaluated to assess the genetic consequences of their common use for the improvement of some local breeds. Conclusions In Italian horses, all previously described domestic mtDNA haplogroups were detected as well as a high haplotype diversity. These findings indicate that the ancestral local mares harbored an extensive genetic diversity. Moreover, the limited haplotype sharing (11%) with the Arabian horse reveals that its impact on the autochthonous mitochondrial gene pools during the final establishment of pure breeds was marginal, if any. The only significant signs of genetic structure and differentiation were detected in the geographically most isolated contexts (i.e. Monterufolino and Sardinian breeds). Such a geographic effect was also confirmed in a wider breed setting, where the Italian pool stands in an intermediate position together with most of the other Mediterranean stocks. However, some notable exceptions and peculiar genetic proximities lend genetic support to historical theories about the origin of specific Italian breeds. PMID:27054850

  2. Does Stock Market value Brands?

    OpenAIRE

    Eleftheriadou, Despoina

    2007-01-01

    This dissertation tries to explore how the brand as an intangible asset impacts on the Market Value of the firm. Using a sample of 193 British firms and their Stock price of the year 2003, we tried to identify if the Stock Market value brands. According to the theoretical review and research results, each brand creates a different brand impact in consumer behaviour and in turn in Stock Market reaction. However, the Stock Market it seems that really values brand assets, firstly directly throug...

  3. 2008 Stock Market Rhapsody

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    In early 2007,spring chickens lined up to register for trading in the booming stock market.In the beginning of 2008, salespeople of securities companies spread their counters on street comers to market their companies to random passersby. The U.S.subprime mortgage crisis swept the whole world and no countries were lucky enough to escape it. The benchmark Shanghai Composite Index plunged 7.22 percent on January 22, the biggest drop so far this year,and de- voured all the increases since August 2007.

  4. 12 CFR 925.23 - Excess stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Excess stock. 925.23 Section 925.23 Banks and... BANKS Stock Requirements § 925.23 Excess stock. (a) Sale of excess stock. Subject to the restriction in paragraph (b) of this section, a member may purchase excess stock as long as the purchase is approved by...

  5. Stock Returns, Volatility, and Cointegration among Chinese Stock Markets

    Institute of Scientific and Technical Information of China (English)

    QiZhou; ZhongguoZhou

    2005-01-01

    This paper examines stock returns, volatility, and cointegration among three Chinese stock markets before and after Hong Kong's return to China. The average daily returns are much higher during the first sub-period (from April 1991 to June 1997) and significantly lower or even negative during the second sub-period (from July 1997 to December 2002). The mean adjusted change in volatility is negatively and significantly correlated with the lagged returns. This negative relation is mainly caused by a contemporaneous and significantly positive correlation between returns and volatility in the first sub-period. This significant relationship disappears for the Shanghai and Shenzhen Stock Exchanges and is even negative for the Hong Kong Stock Exchange during the second sub-period. Three Chinese stock markets are cointegrated over the entire sample period and become more closely related after Hong Kong's return to China. Our results have important implications for both policy makers and individual investors.

  6. West African cattle breeds characterizations: Review of CIRDES genetic works

    International Nuclear Information System (INIS)

    Swiss; and five exotic crossbreds (Holstein x Goudali, Montbeliarde x Goudali, Holstein x Azawak, Brown Swiss x Azawak and Brown Swiss x Zebu peuhl soudanien). From this initial investigation, a map of cattle distribution in each country has been realized. The areas of heavy concentration of stock and the most important breeds have been described. In addition to that, it has been revealed that Benin Pabli breed has disappeared, that Lagoon cattle and Kouri breed are threatened with extinction, that the group Somba-Baoule is subjected to an absorption by Borgou and zebu breeds. The taurine cattle proportion is decreasing, compared with the total number of cattle. But the size of Borgou population and zebu breeds is increasing considerably in the zones where trypanosomosis risk is high. On the other hand, the analysis of genome markers polymorphism has permitted to identify specific alleles for cattle characterization and to identify the genetic reasons of some trypanotolerant cattle declining. So, some alleles were found to be significantly (p<0.01) correlated to breeds (107 bp of HEL1 locus and 191 bp of ETH151 locus to zebu; 197 bp of ETH152 locus to Lagoon and 139 bp of locus ETH225 to Somba). These allele frequencies in the Borgou population were roughly intermediate between those in zebu and taurine breeds. The results of statistical analysis have permitted to define the rate of zebu gene crossing in trypanotolerant cattle (21.5% in Somba cattle and 1.2% in Lagoon cattle); and to determine the degree of zebu gene introgression in Somba cattle (1.5% and 21.5% according to blood groups aspect and to hemoglobin and albumin combination). Y chromosome morphology has been found to be accrocentric in zebu cattle but submetacentric or metacentric in taurine cattle. Robertson's translocation has been observed and its prevalence has been calculated in Lagoon cattle (0.0%), in Somba cattle (10.4%) and in Borgou cattle (18.3%). These observations ought to be take into account

  7. Information flow between stock indices

    OpenAIRE

    Okyu Kwon; Jae-Suk Yang

    2008-01-01

    Using transfer entropy, we observed the strength and direction of information flow between stock indices. We uncovered that the biggest source of information flow is America. In contrast, the Asia/Pacific region the biggest is receives the most information. According to the minimum spanning tree, the GSPC is located at the focal point of the information source for world stock markets.

  8. Scaling analysis of stock markets

    Science.gov (United States)

    Bu, Luping; Shang, Pengjian

    2014-06-01

    In this paper, we apply the detrended fluctuation analysis (DFA), local scaling detrended fluctuation analysis (LSDFA), and detrended cross-correlation analysis (DCCA) to investigate correlations of several stock markets. DFA method is for the detection of long-range correlations used in time series. LSDFA method is to show more local properties by using local scale exponents. DCCA method is a developed method to quantify the cross-correlation of two non-stationary time series. We report the results of auto-correlation and cross-correlation behaviors in three western countries and three Chinese stock markets in periods 2004-2006 (before the global financial crisis), 2007-2009 (during the global financial crisis), and 2010-2012 (after the global financial crisis) by using DFA, LSDFA, and DCCA method. The findings are that correlations of stocks are influenced by the economic systems of different countries and the financial crisis. The results indicate that there are stronger auto-correlations in Chinese stocks than western stocks in any period and stronger auto-correlations after the global financial crisis for every stock except Shen Cheng; The LSDFA shows more comprehensive and detailed features than traditional DFA method and the integration of China and the world in economy after the global financial crisis; When it turns to cross-correlations, it shows different properties for six stock markets, while for three Chinese stocks, it reaches the weakest cross-correlations during the global financial crisis.

  9. Breeding tropical forages

    Directory of Open Access Journals (Sweden)

    L Jank

    2011-01-01

    Full Text Available Brazil has the largest commercial beef cattle herd and is the main beef exporter in the world. Cultivated pastures arethe basis for the Brazilian beef production, and occupy an area of 101.4 million hectares. However, very few forage cultivars arecommercially available, and the majority of these are of apomictic reproduction, thus genetically homogeneous. Tropical foragebreeding is at its infancy, but much investment and efforts have been applied in the last three decades and some new cultivars havebeen released. In this paper, origin of different species, modes of reproduction, breeding programs and targets are discussed andthe resulting new cultivars released are presented.

  10. Efficiency tests in the Iberian stock markets

    OpenAIRE

    José Carlos Dias; Luís Lopes; Vitor Martins; José Manuel Benzinho

    2004-01-01

    This paper investigates the efficiency of the two major stock indexes of the Iberian Peninsula, the Portuguese Stock Index (PSI-20) and the Spanish Stock Index (IBEX-35). We used daily data from January 1993 to September 2001 for the Portuguese stock index and daily data from October 1990 to September 2001 for the Spanish stock index. Serial correlations, unit root tests and variance ratio tests are used to test the efficiency of these two stock indexes. Although the complementary of these te...

  11. Analysis of Economic Factors Affecting Stock Market

    OpenAIRE

    Xie, Linyin

    2010-01-01

    This dissertation concentrates on analysis of economic factors affecting Chinese stock market through examining relationship between stock market index and economic factors. Six economic variables are examined: industrial production, money supply 1, money supply 2, exchange rate, long-term government bond yield and real estate total value. Stock market comprises fixed interest stocks and equities shares. In this dissertation, stock market is restricted to equity market. The stock price in thi...

  12. Application of excilamps in agriculture and animal breeding (review)

    Science.gov (United States)

    Sosnin, Eduard A.; Chudinova, Yulia V.; Victorova, Irina A.; Volotko, Ivan I.

    2015-12-01

    The paper provides a review of research data on applications of XeCl excilamps in agriculture and animal breeding. The data demonstrate a favorable effect of radiation produced by the excilamps on the fertility of animals (outbred mice and pigs) and on the growth of plants (flaxes, potatoes, carrots, cucumbers, conifers). Excilamp models adapted specially for use in stock-raising and grain storage complexes are now available. The research data obtained in 2012-2015 suggest that XeCl excilamps hold promise for prevention of diseases in indoor-housed pigs and for pre-sowing seed preparation.

  13. Online stock trading platform

    Directory of Open Access Journals (Sweden)

    Ion LUNGU

    2006-01-01

    Full Text Available The Internet is the perfect tool that can assure the market’s transparency for any user who wants to trade on the stock market. The investor can have access to the market news, financial calendar or the press releases of the issuers. A good online trading platform also provides real-time intraday quotes, trading history and technical analysis giving the investor a clearer view of the supply and demand in the market. All this information provides the investor a good image of the market and encourages him to trade. This paper wishes to draft the pieces of an online trading platform and to analyze the impact of developing and implementing one in a brokerage firm.

  14. Distribution characteristics of stock market liquidity

    Science.gov (United States)

    Luo, Jiawen; Chen, Langnan; Liu, Hao

    2013-12-01

    We examine the distribution characteristics of stock market liquidity by employing the generalized additive models for location, scale and shape (GAMLSS) model and three-minute frequency data from Chinese stock markets. We find that the BCPE distribution within the GAMLSS framework fits the distributions of stock market liquidity well with the diagnosis test. We also find that the stock market index exhibits a significant impact on the distributions of stock market liquidity. The stock market liquidity usually exhibits a positive skewness, but a normal distribution at a low level of stock market index and a high-peak and fat-tail shape at a high level of stock market index.

  15. Mutation Breeding in Sugarcane

    International Nuclear Information System (INIS)

    The present position of sugar industry particularly cane sugar production in the world has been discussed. The role of African Countries which can contribute more than the present 11% to world cane sugar production is presented. The breeding methods employed in cane growing court-tries indicate the biparental crossing and selection in F1 has been the major method used to develop varieties. Due to cytogenetical peculiarities, thousands of seedlings are grown to select the desirable genotype. Mutations or sports has been a source of variation for selection in nature. Induced mutations have only enhanced the mutation rate and has enabled the plant breeders to get better variation for selection. Though many mutagens have been used gamma rays have been most effective. Induced mutations for nonflowering, spineless leaf-sheath, higher sugar content, yield md resistance to diseases like smut and downy mildew have been reported. The methods of making mutated tissues express itself have been indicated. Mutation breeding holds out promise in sugarcane in that the basic variety or genotype can be kept intact and a few characters changed as desired by the plant breeder provided proper selection methods are employed. (author)

  16. Radiation mutation breeding

    International Nuclear Information System (INIS)

    In order to develop an advanced technical knowledge for the selection of better mutants, some of the crops were irradiated and the mutation rate, the survival rate and the method for selction of a mutant were studied. Furthermore, this study aimed to obtain basic data applicable to the development of genetic resources by evaluation and analysis the specific character for selection of the superior mutant and its plant breeding. 1. selection of the mutant with a superior resistance against environment in the principal crops 1) New varieties of mutant rices such as Wonpyeongbyeo, Wongwangbyeo, Winmibyeo, and heogseon chalbeyeo (sticky forma) were registered in the national variety list and made an application to crop variety protection right. They are under review now. 2) We also keep on studying on the number of a grain of 8 lines of excellent mutant rice for the purpose of improvement of breeding . 3) We selected 3 lines which have a resistance to pod and stem blight in large soybean, 31 lines with small grain size and higher yield, 112 lines of soybean of cooking, 7 lines of low lipoxygenase content, and 12 lines with decreased phytic acid content by 20 % compared to the previous level. 2. Selection of advanced Mugunwha (Rose of Sharon) mutant 1) Bagseul, a new variety of mutant, was developed and 30 plantlets of it are being proliferated. 2) Fifty-three lines of a mutant having a various morphologies were selected

  17. Radiation mutation breeding

    Energy Technology Data Exchange (ETDEWEB)

    Song, Hi Sup; Kim, Jae Sung; Kim, Jin Kyu; Shin, In Chul; Lim, Young Taek

    1998-04-01

    In order to develop an advanced technical knowledge for the selection of better mutants, some of the crops were irradiated and the mutation rate, the survival rate and the method for selction of a mutant were studied. Furthermore, this study aimed to obtain basic data applicable to the development of genetic resources by evaluation and analysis the specific character for selection of the superior mutant and its plant breeding. 1. selection of the mutant with a superior resistance against environment in the principal crops 1) New varieties of mutant rices such as Wonpyeongbyeo, Wongwangbyeo, Winmibyeo, and heogseon chalbeyeo (sticky forma) were registered in the national variety list and made an application to crop variety protection right. They are under review now. 2) We also keep on studying on the number of a grain of 8 lines of excellent mutant rice for the purpose of improvement of breeding . 3) We selected 3 lines which have a resistance to pod and stem blight in large soybean, 31 lines with small grain size and higher yield, 112 lines of soybean of cooking, 7 lines of low lipoxygenase content, and 12 lines with decreased phytic acid content by 20 % compared to the previous level. 2. Selection of advanced Mugunwha (Rose of Sharon) mutant 1) Bagseul, a new variety of mutant, was developed and 30 plantlets of it are being proliferated. 2) Fifty-three lines of a mutant having a various morphologies were selected.

  18. Mutation breeding newsletter. No. 43

    International Nuclear Information System (INIS)

    This issue of the Newsletter includes articles dealing with radiation induced mutation based plant breeding research findings aimed at improving productivity, disease resistance and tolerance of stress conditions

  19. Geo-Financial Association of Ukrainian Stock Market with European Stock Exchanges: Modern Trends

    Directory of Open Access Journals (Sweden)

    Olena Slozko

    2015-06-01

    Full Text Available The paper investigates geo-financial association of Ukrainian stock market within the system of European stock exchange mechanisms. It analyzes current trends on Ukrainian stock exchanges and aims at considering and drawing possible ways and paths for integrating the Ukrainian stock market into the European stock exchange market framework. The authors believe that IT network is a strong background for further sustainable transformation of Ukrainian stock market and its consolidation with the EU stock market.

  20. Stock Market Liquidity: A Case Study of Karachi Stock Exchange

    Directory of Open Access Journals (Sweden)

    Hakim Ali Kanasro

    2009-06-01

    Full Text Available A market is to be considered as liquid when large transactions are executed with a small impact on price. This paper identifies the position of stock market liquidity at Karachi Stock Exchange (KSE during the period from 1985 to 2006. The analysis is based on using annual data of the listed firms at KSE and the data available on economic survey of the Government of Pakistan and other sources. For measurements of liquidity at KSE we have used three measuring tools as; Liquidity Analysis, Turnover Ratio and Size of Market to determine the liquidity issues at KSE. We provide the evidences of less stock market liquidity or to say illiquidity at Karachi Stock Exchange during the sample period. Consequently, market is still for behind in its efficiency, especially in liquidity hence it fails to attract new investors. We find that less liquidity causes less synchronicity in prices attracting less inventors and results is low size of market.

  1. Weekly Report of Stock Performance

    Institute of Scientific and Technical Information of China (English)

    Peter Zong

    2007-01-01

    @@ In the week April 9th-13th, the indexes of Shanghai Stock market and Shenzhen Stock market continued to create historical high, with a weekly increase of 6.0% and 10.1% respectively. Although there were reasonable increases, crazy actions also arose everywhere. For instance, the trailing Profit/Earning per share on 2006 of Sichuan Sofcra Special-Typed Fiber Co, Ltd. was as high as 643, its stock price even increased by 350% compared with that on January 4th, 2007. Huge accumulative increase implies a future down.

  2. Do More Economists Hold Stocks?

    DEFF Research Database (Denmark)

    Christiansen, Charlotte; Joensen, Juanna Schröter; Rangvid, Jesper

    A unique data set enables us to test the hypothesis that more economists than otherwise identical investors hold stocks due to informational advantages. We confirm that economists have a significantly higher probability of participating in the stock market than investors with any other education......, even when controlling for several background characteristics. We make use of a large register-based panel data set containing detailed information on the educational attainments and various financial and socioeconomic variables. We model the stock market participation decision by the probit model...

  3. Methods for Predicting Stock Indexes

    Directory of Open Access Journals (Sweden)

    Martha Cecilia García

    2013-11-01

    Full Text Available This paper presents a literature review on methods that have been used in the last two decades to predict Stock Market Indexes. Methods studied range from those enabling to grab the linear characteristics present in the stock market indexes, going through those that focus on non-linear features and finally hybrid methods that are more robust, since they capture linear and non-linear features. In addition, this research includes methods that use macroeconomic variables to predict indexes from different stock exchanges around the world.

  4. Potato breeding in the Netherlands

    NARCIS (Netherlands)

    Haan, de H.

    1953-01-01

    A remarkable feature of potato breeding in the Netherlands is the great number of private breeders who have concentrated their efforts on the improvement of the potato. The author calls attention to some circumstances and measures that have made potato breeding attractive in the Netherlands

  5. Will Financial Analysts Mistake Stocks of Good Companies for Good Stocks? Evidence from Taiwan Stock Market

    Directory of Open Access Journals (Sweden)

    I-Ju Chen

    2005-01-01

    Full Text Available It has been shown that the individual or institutional investors rely on the information provided by the financial analysts. A good stock recommended by financial experts is expected to make profit to the investors. However, due to the cognitive biases, the financial analysts or investors are probably confused in the firm characteristics between the good stocks and the stocks of good companies. Good companies are normally inferred to the company that have good managing and operating systems, however, it is usually though to have good returns as good stocks. The future earning forecasts of these good companies may be thus overestimated as compared with the others. Such cognitive biases probably results in improper investment and investment loss. In this study, the reputation survey results for the companies in Taiwan and the corresponding financial data are used to verify the proposed cognitive biases hypothesis. The empirical evidence in this study shows that financial analysts mistake stocks of good companies for good stocks. However, it is also shown that the average one-year buy-and-hold return of these sample firms (including good companies and good stocks is still higher than that of the chosen matching firms.

  6. 12 CFR 725.5 - Capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Capital stock. 725.5 Section 725.5 Banks and... ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.5 Capital stock. (a) The capital stock of the Facility is divided... or hypothecated except to the Facility. (b) The capital stock subscriptions provided for in §§...

  7. Expecting a Stock Market Recovery

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    Abundant liquidity is expected to be the mainstay that helps to prop up the nation’s stock markets, according to the Economic Information Daily’s review of financial institutions’ research reports. Excerpts follow.

  8. Stock Market Index Computer Programs.

    Science.gov (United States)

    Rowley, Eric

    1986-01-01

    Provides two computer programs, written in BASIC, to calculate average stock market price levels. The programs allow students to work directly from the raw price data that appear daily in the financial news. Teaching suggestions are provided. (JDH)

  9. Stocks Reservoir report June 1988

    OpenAIRE

    Walker, N.M.

    1988-01-01

    This report comprises a mean weekly summary of the raw data of the fish population of the Stocks Reservoir major tributaries in conjunction with completed maps, diagrams, tables and figures. These cover the Stocks tributary stream survey, the Fishery and fish plate impingement. This paper does not constitute a final report which the author intends to submit as a Ph.D. thesis. However, it does present much of the data and analysis completed in its final draft, which may be of immediate...

  10. New Hope for Chinese Stocks

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    Many people in recent years have held that investing in the Chinese stock markets posed risks. But remarkable changes have taken place in China's stock markets during the past year, according to Mark De Weaver, a research analyst in Shenzhen who now manages a fund investing in Asian equities called Quantrarian Asia Hedge. According to De Weaver, the changes include split-share and brokerage reforms, a new securities law and more opportunities for qualified foreign investors. His main ideas follow:

  11. Rational Bubbles in Stock Prices?

    OpenAIRE

    Behzad T. Diba; Grossman, Herschel I.

    1985-01-01

    This paper reports empirical tests for the existence of rational bubbles in stock prices. The analysis focuses on a familiar model that defines market fundamentals to be the expected present value of dividends, discounted at a constantrate, and defines a rational bubble to be a self-confirming divergence of stock prices from market fundamentals in response to extraneous variables. The tests are based on the theoretical result that, if rational bubbles exist, time series obtained by differenci...

  12. Pricing options on defaultable stocks

    OpenAIRE

    Tayibov, Khayyam

    2012-01-01

    In this note, we develop stock option price approximations for a model which takes both the risk o default and the stochastic volatility into account. We also let the intensity of defaults be influenced by the volatility. We show that it might be possible to infer the risk neutral default intensity from the stock option prices. Our option price approximation has a rich implied volatility surface structure and fits the data implied volatility well. Our calibration exercise shows that an effect...

  13. Organic Plant Breeding: Achievements, Opportunities, and Challenges

    OpenAIRE

    Horneburg, Bernd

    2011-01-01

    The objective of this article is to highlight some successful approaches to organic plant breeding and to encourage the organic movement to engage in an increasing number of organic breeding and organic breeding research projects.

  14. Genome-wide assessment of worldwide chicken SNP genetic diversity indicates significant absence of rare alleles in commercial breeds

    Science.gov (United States)

    Breed utilization, genetic improvement, and industry consolidation are predicted to have major impacts on the genetic composition of commercial chickens. Consequently, the question arises as to whether sufficient genetic diversity remains within industry stocks to address future needs. With the ch...

  15. Effects of Duroc Breeding Lines on Carcass Composition and Meat Quality

    OpenAIRE

    Choi, Jung-Seok; Jin, Sang-Keun; Choi, Yang-Il; Lee, Jae-Joon

    2015-01-01

    This study was performed to investigate the carcass composition and pork quality of Duroc breeding lines in Korea. A total of 200 Duroc pigs were used, and those were originated from four different great-grandparent (GGP) breeding stock farms (L1: N farm, L2: W farm, L3: S farm, L4: R farm). The carcasses of pigs from these farms were collected, and meat quality traits were evaluated. L1 and L2 had smaller carcass weights and thin backfat, whereas L3 and L4 had heavy carcass weights and thick...

  16. Stock Market Expectations of Dutch Households

    OpenAIRE

    Hurd, Michael; Rooij, Maarten van; Winter, Joachim

    2009-01-01

    Despite its importance for the analysis of life-cycle behavior, stock ownership by households is poorly understood. Among other approaches to the investigation of this puzzle, recent research has elicited the expectations of stock market returns by individuals. This paper reports findings from a study that collected data over a two-year period both on stock market expectations (subjective probabilities of gains or losses) and on stock ownership. On average stock market expectations are much m...

  17. RosBREED: Enabling marker-assisted breeding in Rosaceae

    NARCIS (Netherlands)

    Iezzoni, A.F.; Weebadde, C.; Luby, J.; Yue, C.; Weg, van de W.E.; Fazio, G.; Main, D.; Peace, C.P.; Bassil, N.V.; McFerson, J.

    2010-01-01

    Genomics research has not yet been translated into routine practical application in breeding Rosaceae fruit crops (peach, apple, strawberry, cherry, apricot, pear, raspberry, etc.). Through dedicated efforts of many researchers worldwide, a wealth of genomics resources has accumulated, including EST

  18. Mutation breeding by ion implantation

    Science.gov (United States)

    Yu, Zengliang; Deng, Jianguo; He, Jianjun; Huo, Yuping; Wu, Yuejin; Wang, Xuedong; Lui, Guifu

    1991-07-01

    Ion implantation as a new mutagenic method has been used in the rice breeding program since 1986, and for mutation breeding of other crops later. It has been shown, in principle and in practice, that this method has many outstanding advantages: lower damage rate; higher mutation rate and wider mutational spectrum. Many new lines of rice with higher yield rate; broader disease resistance; shorter growing period but higher quality have been bred from ion beam induced mutants. Some of these lines have been utilized for the intersubspecies hybridization. Several new lines of cotton, wheat and other crops are now in breeding. Some biophysical effects of ion implantation for crop seeds have been studied.

  19. Safflower: genetics and breeding

    International Nuclear Information System (INIS)

    A review of genetic studies related to the breeding of improved cultivars of safflower (Carthamus tinctorius L.) indicated that it was possible to modify the following over a wide range: duration of the rosette stage, stem length, branching habit, degree of spininess, head number, head size, flower morphology, mating system, seed size, hull thickness and thereby oil and protein contents, and fatty acid composition of the oil. Safflower breeders have concentrated most of their efforts on identifying and evaluating the great range of variability in cultivated safflower and its closely related wild species, and not on exploring means to increase variability. Limited experiments with gamma rays and ethyl methanesulphonate indicated that additional variability could be induced. Mutagenic agents should be used to obtain the following: resistance to foliar diseases where resistant germplasm is not available, increased levels of resistance to Phytophthora root rot, resistance to dodder and orobanche, resistance to insect pests, earlier maturity, and additional modifications in the fatty acid composition of the oil. (author)

  20. Mutation breeding in chickpea

    International Nuclear Information System (INIS)

    Chickpea is an important food legume in Turkey. Turkey is one of the most important gene centers in the world for legumes. Realizing the potential of induced mutations, a mutation breeding programme was initiated at the Nuclear Agriculture Section of the Saraykoy Nuclear Research and Training Center in 1994. The purpose of the study was to obtain high yielding chickpea mutants with large seeds, good cooking quality and high protein content. Beside this some characters such as higher adaptation ability, tolerant to cold and drought, increased machinery harvest type, higher yield, resistant to diseases especially to antracnose and pest were investigated too. Parent varieties were ILC-482, AK-7114 and AKCIN-91 had been used in these experiments. The irradiation doses were 0 (control), 50, 100, 150, 200, 250, 300, 350 and 400 Gy for field experiments, respectively. As a result of these experiments, two promising mutant lines were chosen and given to the Seed Registration and Certification Center for official registration These two promising mutants were tested at five different locations of Turkey, in 2004 and 2005 years. After 2 years of registration experiments one of outstanding mutants was officially released as mutant chickpea variety under the name TAEK-SAGEL, in 2006. Some basic characteristics of this mutant are; earliness (95-100 day), high yield capacity (180-220 kg/da), high seed protein (22-25 %), first pot height (20-25 cm), 100 seeds weight (42-48 g), cooking time (35-40 min) and resistance to Ascochyta blight.

  1. MORE ON THE APPROVAL OF ANTONINSKO-ZOZULENETSKIY CARPS OF UKRAINIAN BREEDS

    Directory of Open Access Journals (Sweden)

    O. Oleksiyenko

    2015-12-01

    Full Text Available Purpose. To perform an analysis the fish breeding, biological, productive, exterior indicators of Antoninsko-Zozulenetskiy carps of Ukrainian scaly and Ukrainian framed breeds, their genetic characteristics as well as to provide the methods of the creation of these carps as a selective achievement. Methodology. The works were carried out in accordance with conventional techniques in fish farming and breeding. Carp breeding was conducted by the method of mass continuously improving selection of fish the aim of which is that a complex of fish breeding and management activities create conditions contributing to the development of productive qualities in the selected carp, while selection and breeding activities form and reproduce the leading pedigree group of the stock. Findings. In the conditions of the development of fisheries industry, especially important are the problems of selection and breeding works aimed at improving the biological and economic features of fish farming objects by improving the existing and developing new breeds, inbreeding, zonal types, lines, etc., creating a progressive heterotic structure of breeds and forming highly productive pedigree stocks of fish breeding objects. The main object of commercial fish farming in Ukraine, as in many countries, is carp, so his selection is given much attention. The starting material for producing the Antoninsko-Zozulenetskiy Ukrainian scaly and Ukrainian framed breeds was carp population of Antoninskiy State fish hatchery (Khmelnytsky region, which was a cross between native carp with mirror Galician carp. The principal method of carp breeding was a massive, continuously improving selection with high intensity among younger age groups. An importance during the selection was given to the growth rate of the fish, their exterior and constitutional "strength." For the brood, individuals with the highest body weight, scaly cover of which corresponded to accepted standards, beautiful high

  2. Relationships between trout stocking and amphibians in British Columbia's Southern Interior lakes

    OpenAIRE

    Hirner, Joanna Lynne McGarvie

    2006-01-01

    Stocking lakes with non-native trout to encourage recreational fishing causes changes in lake ecosystems that can negatively affect biodiversity. I examined associations between rainbow trout (Oncorhynchus mykiss) and amphibians in small lakes of British Columbia’s Southern Interior by comparing abundance, growth, and probability of presence of aquatic breeding amphibians between lakes with and without trout. My evidence suggests that abundance of long-toed salamander (Ambystoma macrodactylum...

  3. Germplasm of breeding Pseudosciaena crocea as revealed by microsatellite markers

    Institute of Scientific and Technical Information of China (English)

    CHANG Yumei; DING Lei; LI Mingyun; XUE Liangyi; LIANG Liqun; HE Jianguo; LEI Qingquan

    2008-01-01

    The germplasm of breeding large yellow croaker(Pseudosciaena crocea Richardson)was revealed using 12 microsatellite markers.The results showed that the genetic diversities were on a mediated level in the bred Daiqu and Min-Yue stocks and two hybrid groups,as represented by 4.83 of the mean number of alleles and 0.561 of the average observed heterozygosity.The value of pair-wise differentiation coefficient(Fst)was only 13.1% between Daiqu and Min-Yue stocks,demonstrating the low level of differcn-tiation and a close relationship.However,STRUCTURE simulations and phylogenetie tree based on the UPGMA method supported that they are geographically different populations of the same species with distinct genetic structures.Examinations of individual ad-mixture showed that Min-Yue stock had been contaminated by alien individuals.Moreover,the genetic structures of the two hybridgroups resembled those of their parents,especially affected more by their female parents.Finally,the values of average observed beterozygasity between parents and their ascendants were compared and tested,as a result of no detectable differences(P>0.05).

  4. Stock Market Screening: An Analogical Study on Conventional and Shariah-Compliant Stock Markets

    OpenAIRE

    Gholamreza Zandi; Dzuljastri Abdul Razak; Nur Hidayah Hussin

    2014-01-01

    Benchmarking Shariah-Compliant stocks listed in Bursa Malaysia, this paper examined whether the stocks which are approved by SACSC are also considered as Shariah-Compliant under International Indices. 35 top Shariah-Compliant stocks listed in Bursa Malaysia were examined against four stock screening criteria of DJIM, MSCI, FTSE and S&P. Due to the differences in stock screening criteria, the factors evaluated that lead to variances in Shariah-Compliant status for a particular stock. The r...

  5. Geo-Financial Association of Ukrainian Stock Market with European Stock Exchanges: Modern Trends

    OpenAIRE

    Olena Slozko; Anna Glazova

    2015-01-01

    The paper investigates geo-financial association of Ukrainian stock market within the system of European stock exchange mechanisms. It analyzes current trends on Ukrainian stock exchanges and aims at considering and drawing possible ways and paths for integrating the Ukrainian stock market into the European stock exchange market framework. The authors believe that IT network is a strong background for further sustainable transformation of Ukrainian stock market and its consolidation with the ...

  6. Role And Place Of Stock Indices In Informational Flows Of Domestic Stock Market

    OpenAIRE

    Maksym Zaporozhets

    2014-01-01

    This article deals with informational flows of modern stock market and the place of stock indices is determined in them. The analysis of existing regulating demands concerning the information disclosure by different market participants (first of all, stock exchanges) is made. Requirements for stock information which significantly increase the transparency of all stock market and the role of stock indices as market indicators are distinguished.

  7. Stock market uncertainty and the relation between stock and bond returns

    OpenAIRE

    Chris Stivers; Licheng Sun

    2002-01-01

    The authors examine how the co-movement between daily stock and Treasury bond returns varies with stock market uncertainty. They use the lagged implied volatility from equity index options to provide an objective, observable, and dynamic measure of stock market uncertainty. The authors find that stock and bond returns tend to move substantially together during periods of lower stock market uncertainty. However, stock and bond returns tend to exhibit little relation or even a negative relation...

  8. Mutation breeding newsletter. No. 12

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  9. Mutation breeding newsletter. No. 4

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents reports and rea search abstracts on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  10. Mutation breeding newsletter. No. 3

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents reports and rea search abstracts on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  11. Mutation breeding newsletter. No. 11

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  12. Mutation breeding newsletter. No. 23

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  13. Mutation breeding newsletter. No. 30

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  14. Tricolored Blackbird - Breeding [ds20

    Data.gov (United States)

    California Department of Resources — These data come from observations of breeding tricolored blackbirds throughout their range in California. NAD27 coordinates are given in the data for each record....

  15. Mutation breeding newsletter. No. 29

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents reports and rea search abstracts on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  16. Mutation breeding newsletter. No. 26

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents reports and research abstracts on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  17. Mutation breeding newsletter. No. 2

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents reports and rea search abstracts on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  18. Mutation breeding newsletter. No. 8

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  19. Mutation breeding newsletter. No. 16

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  20. Mutation breeding newsletter. No. 32

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  1. Mutation breeding newsletter. No. 15

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  2. Mutation Breeding Newsletter. No. 37

    International Nuclear Information System (INIS)

    This newsletter contains a brief account of FAO/IAEA meetings held in 1990 on plant breeding involving the use of induced mutations. It also features a list of commercially available plant cultivars produced by such techniques. Refs and tabs

  3. Illinois’ 2000 breeding season report

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This report summarizes the 2000 breeding season for grassland birds in Illinois. The report begins by summarizing weather conditions throughout the season and...

  4. Mutation breeding newsletter. No. 7

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents reports and rea search abstracts on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  5. Mutation breeding newsletter. No. 5

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents reports and rea search abstracts on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  6. Mutation breeding newsletter. No. 28

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents reports and research abstracts on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  7. Atlantic Flyway Breeding Waterfowl Survey

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — The Atlantic Flyway Technical Section initiated this breeding waterfowl survey in 11 northeast states ranging from New Hampshire to Virginia.

  8. Mutation breeding newsletter. No. 17

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  9. Mutation breeding newsletter. No. 24

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents reports and research abstracts on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  10. Mutation breeding newsletter. No. 10

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  11. Mutation breeding newsletter. No. 9

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  12. Bee Queen Breeding Methods - Review

    Directory of Open Access Journals (Sweden)

    Silvia Patruica

    2016-05-01

    Full Text Available The biological potential of a bee family is mainly generated by the biological value of the queen. Whether we grow queens widely or just for our own apiaries, we must consider the acquisition of high-quality biological material, and also the creation of optimal feeding and caring conditions, in order to obtain high genetic value queens. Queen breeding technology starts with the setting of hoeing families, nurse families, drone-breeding families – necessary for the pairing of young queens, and also of the families which will provide the bees used to populate the nuclei where the next queens will hatch. The complex of requirements for the breeding of good, high-production queens is sometimes hard to met, under the application of artificial methods. The selection of breeding method must rely on all these requirements and on the beekeeper’s level of training.

  13. Mutation breeding newsletter. No. 14

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  14. Mutation breeding newsletter. No. 25

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents reports and research abstracts on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  15. Mutation breeding newsletter. No. 33

    International Nuclear Information System (INIS)

    This issue of the newsletter reports a number of research news and research abstracts on application of radiation induced mutation techniques to increase mutagenesis and mutation frequency in plant breeding projects

  16. Mutation breeding newsletter. No. 27

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents reports and research abstracts on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  17. Mutation breeding newsletter. No. 22

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  18. Mutation breeding newsletter. No. 13

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  19. Mutation breeding newsletter. No. 18

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  20. Mutation breeding newsletter. No. 31

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  1. Mutation breeding newsletter. No. 36

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents abstracts and short communications of research results on radiation and chemical induced mutation breeding projects. Positive traits such as disease resistance and increased productivity are highlighted

  2. Mutation breeding newsletter. No. 19

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents new reports on mutation breeding programs using radiation or chemical mutagenesis to improve productivity, introduce disease resistance or induce morphological changes in crop plants

  3. Mutation breeding newsletter. No. 34

    International Nuclear Information System (INIS)

    This issue of the Newsletter presents abstracts and short communications of research results on radiation and chemical induced mutation breeding projects. Positive traits such as disease resistance and increased productivity are highlighted

  4. Increasing salinity tolerance in tilapias: selective breeding using locally available strains

    OpenAIRE

    Cecilia J. Jaspe; Christopher M. A. Caipang

    2011-01-01

    The culture of tilapias is an important industry in most aquaculture producing countries in theworld. Due to the many favorable attributes of this species of fish, including tolerance to wide range ofenvironmental conditions and fast growth rates, interest in its culture is increasing at a rapid pace. Therehave been research initiatives on breeding, genetic improvement and stock manipulation in order toincrease the resistance of this fish to high salinity levels, enabling them to thrive in br...

  5. Canine Hip Dysplasia: Breed Effects

    OpenAIRE

    Martin, S W; Kirby, K.; Pennock, P W

    1980-01-01

    This paper is a refinement of previous studies in that only suitably radiographed dogs were included in the data base. The rate of hip dysplasia varied widely by breed from five percent in siberian huskies to eighty-three percent in english bulldogs. There was a significant difference in the prevalence of dysplasia within at least two breeds; golden retrievers and old english sheepdogs. Physical size per se did not appear to be an important determinant of hip dysplasia.

  6. Mutations induced in plant breeding

    Energy Technology Data Exchange (ETDEWEB)

    Barriga B, P. (Universidad Austral de Chile, Valdivia. Inst. de Produccion y Sanidad Vegetal)

    1984-10-01

    The most significant aspects of the use of ionizing radiations in plant breeding are reviewed. Aspects such as basic principles of mutation, expression and selection in obtention of mutants, methods for using induced mutations and sucess achieved with this methodology in plant breeding are reviewed. Results obtained in a program of induced mutation on wheat for high content of protein and lysine at the Universidad Austral de Chile are presented.

  7. Do Earthquakes Shake Stock Markets?

    Science.gov (United States)

    Ferreira, Susana; Karali, Berna

    2015-01-01

    This paper examines how major earthquakes affected the returns and volatility of aggregate stock market indices in thirty-five financial markets over the last twenty years. Results show that global financial markets are resilient to shocks caused by earthquakes even if these are domestic. Our analysis reveals that, in a few instances, some macroeconomic variables and earthquake characteristics (gross domestic product per capita, trade openness, bilateral trade flows, earthquake magnitude, a tsunami indicator, distance to the epicenter, and number of fatalities) mediate the impact of earthquakes on stock market returns, resulting in a zero net effect. However, the influence of these variables is market-specific, indicating no systematic pattern across global capital markets. Results also demonstrate that stock market volatility is unaffected by earthquakes, except for Japan. PMID:26197482

  8. 78 FR 19002 - Marine Mammal Protection Act; Draft Revised Stock Assessment Reports for Two Stocks of West...

    Science.gov (United States)

    2013-03-28

    ... Antillean manatees (Trichechus manatus manatus) and the Florida manatee stock (Trichechus manatus... Indian manatee stocks Nmin Rmax Fr PBR human-caused Stock status mortality (5- year average)...

  9. Do Stock Markets move together?

    OpenAIRE

    Xu, Nianlong

    2012-01-01

    In this paper, the purpose of this dissertation is to analyze the co-movements among Chinese, Hong Kong, the United States and Japanese stock market. This dissertation provides evidences to support the hypothesis that there may be long-term benefits for Chinese investors to diversify in the international equity markets. The evidences are based on the data from the stock markets of the United States, Hong Kong, China and Japan over the period of 1st January 2007 to 31st December 2011. Time...

  10. Short-term selective breeding for High and Low prepulse inhibition of the acoustic startle response; pharmacological characterization and QTL mapping in the selected lines

    OpenAIRE

    Hitzemann, Robert; Malmanger, Barry; Belknap, John; Darakjian, Priscila; McWeeney, Shannon

    2008-01-01

    Selective breeding offers several important advantages over using inbred strain panels in detecting genetically correlated traits to the selection phenotype. The purpose of the current study was to selectively breed for prepulse inhibition (PPI) of the acoustic startle response (ASR), to pharmacologically and behaviorally characterize the selected lines and to use the lines for quantitative trait loci (QTL) mapping. Starting with heterogeneous stock mice formed by crossing the C57BL/6J, DBA/2...

  11. The revision of classical stock model

    Institute of Scientific and Technical Information of China (English)

    叶柏青; 王洪利

    2001-01-01

    On the basis of the analysis of classical stock model, according to the limitation of the model, the article puts forward the revision of classical model and enforces the applicability of the stock model.

  12. The revision of classical stock model

    Institute of Scientific and Technical Information of China (English)

    YE Bai-qing; WANG Hong-li

    2001-01-01

    On the basis of the analysis of classical stock model, according to th e limitation of the model, the article puts forward the revision of classical mo del and enforces the applicability of the stock model.

  13. Breeding for Improved Disease Resistance in Organic Farming – Possibilities and Constraints

    Directory of Open Access Journals (Sweden)

    Magnusson Ulf

    2002-03-01

    Full Text Available Lowered incidences of disease may be reached in several ways: management and rearing measures, vaccination programmes and preventive medications as well as breeding for improved disease resistance. Here the focus is on breeding for improved resistance to infectious diseases. In comparison to conventional farming, one has to acknowledge that the spectrum of diseases in animals reared under organic conditions is different and that the proportion of the breeding stock of animals in organic farming is considerably smaller. There are at least four different approaches that may be used in breeding towards resistance to infectious diseases. The most obvious is to record disease incidence in the progeny and select those parents that produce the progeny with the lowest incidences of disease. Another approach is to use breeders possessing certain major histo-compatibility complex antigens suggested being associated with resistance to certain infections. A third approach is to analyse the heritability of a set of immune functions or related traits crucial for resistance to infections and then use the traits with high heritability in breeding programmes. Finally, one may genetically select animals for high immune response using an index that combines estimated breeding values for several immunological traits. Examples of these various approaches are given and the feasibility for using these in organic farming are discussed.

  14. Selkirk Rex: morphological and genetic characterization of a new cat breed.

    Science.gov (United States)

    Filler, Serina; Alhaddad, Hasan; Gandolfi, Barbara; Kurushima, Jennifer D; Cortes, Alejandro; Veit, Christine; Lyons, Leslie A; Brem, Gottfried

    2012-01-01

    Rexoid, curly hair mutations have been selected to develop new domestic cat breeds. The Selkirk Rex is the most recently established curly-coated cat breed originating from a spontaneous mutation that was discovered in the United States in 1987. Unlike the earlier and well-established Cornish and Devon Rex breeds with curly-coat mutations, the Selkirk Rex mutation is suggested as autosomal dominant and has a different curl phenotype. This study provides a genetic analysis of the Selkirk Rex breed. An informal segregation analysis of genetically proven matings supported an autosomal, incomplete dominant expression of the curly trait in the Selkirk Rex. Homozygous curl cats can be distinguished from heterozygous cats by head and body type, as well as the presentation of the hair curl. Bayesian clustering of short tandem repeat (STR) genotypes from 31 cats that represent the future breeding stock supported the close relationship of the Selkirk Rex to the British Shorthair, Scottish Fold, Persian, and Exotic Shorthair, suggesting the Selkirk as part of the Persian breed family. The high heterozygosity of 0.630 and the low mean inbreeding coefficient of 0.057 suggest that Selkirk Rex has a diverse genetic foundation. A new locus for Selkirk autosomal dominant Rex, SADRE, is suggested for the curly trait.

  15. The influence of stocking density on the growth of common carp, Cyprinus carpio, in a recirculating aquaculture system

    OpenAIRE

    Ionica Enache; Victor Cristea; Tudor Ionescu; Săndita Ion

    2011-01-01

    The paper presents some aspects regarding the influence of stocking density on the breeding of the common carp in a recirculating aquaculture system (RAS). The experiment covered a 30 dayperiod. It was conducted in four aquaculture tanks, 500 L/tank, in the recirculating aquaculture pilot system of “Dunarea de Jos” University of Galați. Two kind of stocking density variants were compared: 64 kg/m3 in V1 (B1, B3) and 32 kg/m3 in V2 (B2, B4). The stocking density was: 491 fish in B1, avera...

  16. Stock Market Cycles and Future Trend Estimation

    OpenAIRE

    Angyal (Apolzan), Carmen-Maria; Aniş, Cecilia–Nicoleta

    2012-01-01

    Contemporary period was an unprecedented growth of stock markets in both developed economies and in emerging ones. The process of financial development has led to substantial changes in the behavior of the stock markets. Recent articles have been oriented to determine the relationship between financial liberalization and stock market cycles (Edwards et al. 2003; Kaminsky and Schmukler 2003). These articles have analyzed the stock exchanges in different countries focusing on the market movemen...

  17. Global Portfolio Diversification with Emerging Stock Markets

    Directory of Open Access Journals (Sweden)

    İlhan Meriç

    2016-02-01

    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.

  18. Stock Returns-Inflation Relation in India

    OpenAIRE

    K. R. Shanmugam; Biswa Swarup Misra

    2008-01-01

    This study contributes to the stock returns-inflation relation literature in developing countries by revisiting the issue with reference to the emerging economy, India. More specifically, it tests whether the Indian stock market provides an effective hedge against inflation using monthly data on real stock return, inflation and real activity from April 1980 to March 2004 and a two-step estimation procedure. Results of the study indicate that (i) the Indian stock market reflects future real ac...

  19. Validating Virtual Safety Stock Effectiveness through Simulation

    Directory of Open Access Journals (Sweden)

    Maria Elena Nenni

    2013-08-01

    safety stock effectiveness through simulation in an inventory system using a base stock policy with periodic reviews and backorders. This approach can be useful for researchers as well as practitioners who want to model the behaviour of an inventory system under uncertain conditions and verify the opportunity for setting up a virtual safety stock on top of, or instead of, the traditional physical safety stock.

  20. Stock Market Equilibrium and Macroeconomic Fundamentals

    OpenAIRE

    Lamin Leigh

    1997-01-01

    This paper examines the efficiency of the Stock Exchange of Singapore and the relationship between the stock market and the overall economy. Using a wide range of methods for testing market efficiency, the paper establishes that the Singapore stock market is both “weakly” and “semi-strongly” efficient in asset-pricing terms but not “strongly” efficient. Granger causality tests based on the efficiency test results indicate that developments in the stock market appear to be systematically relat...

  1. Stocks of Admired and Spurned Companies

    OpenAIRE

    Anginer, Deniz; Statman, Meir

    2010-01-01

    Do stocks of admired companies yield admirable returns? Are increases in admiration followed by high stock returns, and how reliable is the relation between admiration and returns? These questions are answered by the authors based on their study of Fortune magazine's annual list "America's Most Admired Companies." They find that from April 1983 through December 2007 stocks of admired companies had lower returns, on average, than stocks of spurned companies and that increases in admiration wer...

  2. The market efficiency in the stock markets

    OpenAIRE

    Jae-Suk Yang; Wooseop Kwak; Taisei Kaizoji; In-mook Kim

    2007-01-01

    We study the temporal evolution of the market efficiency in the stock markets using the complexity, entropy density, standard deviation, autocorrelation function, and probability distribution of the log return for Standard and Poor's 500 (S&P 500), Nikkei stock average index, and Korean composition stock price index (KOSPI). Based on the microscopic spin model, we also find that these statistical quantities in stock markets depend on the market efficiency.

  3. The Speculative Nature of Stock Market

    OpenAIRE

    Bogdan-Gabriel FILIPESCU

    2011-01-01

    This paper focuses on the speculative nature of the stock market in Romania, emphasizing the basic rules and risks associated with stock transactions. On the one hand, the speculative nature may be considered as a mandatory feature of the stock market, for the purposes of supporting a fair and efficient functioning stock system. On the other hand, the term "speculative" can be also interpreted in a negative direction, i.e. in combination with market manipulation or market abuse. Related to th...

  4. Macroeconomic Determinants of Stock Market Development

    OpenAIRE

    Valeriano F. García; Lin Liu

    1999-01-01

    Using pooled data from fifteen industrial and developing countries from 1980 to 1995, this paper examines the macroeconomic determinants of stock market development, particularly market capitalization. The paper finds that: (1) real income, saving rate, financial intermediary development, and stock market liquidity are important determinants of stock market capitalization; (2) macroeconomic volatility does not prove significant; and (3) stock market development and financial intermediary deve...

  5. Evolution, plant breeding and biodiversity

    Directory of Open Access Journals (Sweden)

    Salvatore Ceccarelli

    2011-11-01

    Full Text Available This paper deals with changes in biodiversity during the course of evolution, plant domestication and plant breeding. It shows than man has had a strong influence on the progressive decrease of biodiversity, unconscious at first and deliberate in modern times. The decrease in biodiversity in the agricultures of the North causes a severe threat to food security and is in contrasts with the conservation of biodiversity which is part of the culture of several populations in the South. The concluding section of the paper shows that man could have guided evolution in a different way and shows an example of participatory plant breeding, a type of breeding which is done in collaboration with farmers and is based on selection for specific adaptation. Even though participatory plant breeding has been practiced for only about 20 years and by relatively few groups, the effects on both biodiversity and crop production are impressive. Eventually the paper shows how participatory plant breeding can be developed into ‘evolutionary plant breeding’ to cope in a dynamic way with climate changes.

  6. Cassava Breeding I: The Value of Breeding Value.

    Science.gov (United States)

    Ceballos, Hernán; Pérez, Juan C; Joaqui Barandica, Orlando; Lenis, Jorge I; Morante, Nelson; Calle, Fernando; Pino, Lizbeth; Hershey, Clair H

    2016-01-01

    Breeding cassava relies on several selection stages (single row trial-SRT; preliminary; advanced; and uniform yield trials-UYT). This study uses data from 14 years of evaluations. From more than 20,000 genotypes initially evaluated only 114 reached the last stage. The objective was to assess how the data at SRT could be used to predict the probabilities of genotypes reaching the UYT. Phenotypic data from each genotype at SRT was integrated into the selection index (SIN) used by the cassava breeding program. Average SIN from all the progenies derived from each progenitor was then obtained. Average SIN is an approximation of the breeding value of each progenitor. Data clearly suggested that some genotypes were better progenitors than others (e.g., high number of their progenies reaching the UYT), suggesting important variation in breeding values of progenitors. However, regression of average SIN of each parental genotype on the number of their respective progenies reaching UYT resulted in a negligible coefficient of determination (r (2) = 0.05). Breeding value (e.g., average SIN) at SRT was not efficient predicting which genotypes were more likely to reach the UYT stage. Number of families and progenies derived from a given progenitor were more efficient predicting the probabilities of the progeny from a given parent reaching the UYT stage. Large within-family genetic variation tends to mask the true breeding value of each progenitor. The use of partially inbred progenitors (e.g., S1 or S2 genotypes) would reduce the within-family genetic variation thus making the assessment of breeding value more accurate. Moreover, partial inbreeding of progenitors can improve the breeding value of the original (S0) parental material and sharply accelerate genetic gains. For instance, homozygous S1 genotypes for the dominant resistance to cassava mosaic disease (CMD) could be generated and selected. All gametes from these selected S1 genotypes would carry the desirable allele and

  7. CASSAVA BREEDING I: THE VALUE OF BREEDING VALUE

    Directory of Open Access Journals (Sweden)

    Hernán Ceballos

    2016-08-01

    Full Text Available Breeding cassava relies on several selection stages (single row trial-SRT; preliminary; advanced; and uniform yield trials - UYT. This study uses data from 14 years of evaluations. From more than 20,000 genotypes initially evaluated only 114 reached the last stage. The objective was to assess how the data at SRT could be used to predict the probabilities of genotypes reaching the UYT. Phenotypic data from each genotype at SRT was integrated into the selection index (SIN used by the cassava breeding program. Average SIN from all the progenies derived from each progenitor was then obtained. Average SIN is an approximation of the breeding value of each progenitor. Data clearly suggested that some genotypes were better progenitors than others (e.g. high number of their progenies reaching the UYT, suggesting important variation in breeding values of progenitors. However, regression of average SIN of each parental genotype on the number of their respective progenies reaching UYT resulted in a negligible coefficient of determination (r2 = 0.05. Breeding value (e.g. average SIN at SRT was not efficient predicting which genotypes were more likely to reach the UYT stage. Number of families and progenies derived from a given progenitor were more efficient predicting the probabilities of the progeny from a given parent reaching the UYT stage. Large within-family genetic variation tends to mask the true breeding value of each progenitor. The use of partially inbred progenitors (e.g. S1 or S2 genotypes would reduce the within-family genetic variation thus making the assessment of breeding value more accurate. Moreover, partial inbreeding of progenitors can improve the breeding value of the original (S0 parental material and sharply accelerate genetic gains. For instance, homozygous S1 genotypes for the dominant resistance to cassava mosaic disease could be generated and selected. All gametes from these selected S1 genotypes would carry the desirable allele

  8. Cassava Breeding I: The Value of Breeding Value

    Science.gov (United States)

    Ceballos, Hernán; Pérez, Juan C.; Joaqui Barandica, Orlando; Lenis, Jorge I.; Morante, Nelson; Calle, Fernando; Pino, Lizbeth; Hershey, Clair H.

    2016-01-01

    Breeding cassava relies on several selection stages (single row trial-SRT; preliminary; advanced; and uniform yield trials—UYT). This study uses data from 14 years of evaluations. From more than 20,000 genotypes initially evaluated only 114 reached the last stage. The objective was to assess how the data at SRT could be used to predict the probabilities of genotypes reaching the UYT. Phenotypic data from each genotype at SRT was integrated into the selection index (SIN) used by the cassava breeding program. Average SIN from all the progenies derived from each progenitor was then obtained. Average SIN is an approximation of the breeding value of each progenitor. Data clearly suggested that some genotypes were better progenitors than others (e.g., high number of their progenies reaching the UYT), suggesting important variation in breeding values of progenitors. However, regression of average SIN of each parental genotype on the number of their respective progenies reaching UYT resulted in a negligible coefficient of determination (r2 = 0.05). Breeding value (e.g., average SIN) at SRT was not efficient predicting which genotypes were more likely to reach the UYT stage. Number of families and progenies derived from a given progenitor were more efficient predicting the probabilities of the progeny from a given parent reaching the UYT stage. Large within-family genetic variation tends to mask the true breeding value of each progenitor. The use of partially inbred progenitors (e.g., S1 or S2 genotypes) would reduce the within-family genetic variation thus making the assessment of breeding value more accurate. Moreover, partial inbreeding of progenitors can improve the breeding value of the original (S0) parental material and sharply accelerate genetic gains. For instance, homozygous S1 genotypes for the dominant resistance to cassava mosaic disease (CMD) could be generated and selected. All gametes from these selected S1 genotypes would carry the desirable allele and

  9. TRACEABILITY IN STOCK MANAGEMENT SYSTEMS

    Directory of Open Access Journals (Sweden)

    Demian Horia

    2009-05-01

    Full Text Available This paper presents traceability of a product if we are using a stock management system which uses FIFO or LIFO discharging methods. In the first part there is a little presentation regarding the four types of inputs and outputs and the side effect to the

  10. Lessons From a Stock Tumble

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    China’s bullish stock market survived a startling 'correction,' when the benchmark Shanghai Composite Index witnessed a 15-percent drop from May 30 to June 5 this year. Zhao Xiao, professor at the University of Science and Technology Beijing, calls for a

  11. Oil risk in oil stocks

    NARCIS (Netherlands)

    Scholtens, Bert; Wang, L

    2008-01-01

    We assess the oil price sensitivities and oil risk premiums of NYSE listed oil & gas firms' returns by using a two-step regression analysis under two different arbitrage pricing models. Thus, we apply the Fama and French (1992) factor returns in a study of oil stocks. In all, we find that the return

  12. Adelic theory of stock market

    OpenAIRE

    Zharkov, V.

    2011-01-01

    The p-adic theory of the stock market is presented. It is shown that the price dynamics is very naturally described by the adelic function. The procedure of derivation of the functional integral formulation of adelic type is derived from microscopic models using generalized supercoherent states.

  13. 26 CFR 1.1081-3 - Exchanges of stock or securities solely for stock or securities.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Exchanges of stock or securities solely for stock or securities. 1.1081-3 Section 1.1081-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF... § 1.1081-3 Exchanges of stock or securities solely for stock or securities. The exchange, without...

  14. 26 CFR 1.1036-1 - Stock for stock of the same corporation.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Stock for stock of the same corporation. 1.1036...) INCOME TAX (CONTINUED) INCOME TAXES Common Nontaxable Exchanges § 1.1036-1 Stock for stock of the same corporation. (a) Section 1036 permits the exchange, without the recognition of gain or loss, of common...

  15. Stock Market Efficiency in Thin Trading Markets: The Case of the Vietnamese Stock Market

    NARCIS (Netherlands)

    Dong Loc, T.; Lanjouw, G.; Lensink, B.W.

    2010-01-01

    This article reviews developments in the Stock Trading Centre (STC) in Ho Chi Minh City, Vietnam, the main stock market in the country, since its start in 2000. It presents information about developments in the number of stocks traded, trading activity and stock-price developments. This article focu

  16. Stock-market efficiency in thin-trading markets : the case of the Vietnamese stock market

    NARCIS (Netherlands)

    Truong Dong Loc, [No Value; Lanjouw, Ger; Lensink, Robert

    2010-01-01

    This article reviews developments in the Stock Trading Centre (STC) in Ho Chi Minh City, Vietnam, the main stock market in the country, since its start in 2000. It presents information about developments in the number of stocks traded, trading activity and stock-price developments. This article focu

  17. 25 CFR 173.6 - Stock grazing.

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false Stock grazing. 173.6 Section 173.6 Indians BUREAU OF... WITHDRAWN OR ACQUIRED IN CONNECTION WITH INDIAN IRRIGATION PROJECTS § 173.6 Stock grazing. Permittees may graze upon lands covered by such permits, such stock as may be required in connection with the...

  18. 27 CFR 24.217 - Vinegar stock.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Vinegar stock. 24.217... OF THE TREASURY LIQUORS WINE Production of Other Than Standard Wine § 24.217 Vinegar stock. Vinegar stock may be produced on bonded wine premises with the addition of any quantity of water desired to...

  19. 47 CFR 32.4530 - Treasury stock.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Treasury stock. 32.4530 Section 32.4530... FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.4530 Treasury stock. This account shall include the cost of the company's own capital stock which has been issued...

  20. 47 CFR 32.4510 - Capital stock.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Capital stock. 32.4510 Section 32.4510... FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.4510 Capital stock. (a) This account shall include the par value, stated amount, or in the case of no-par stock, the...

  1. Online Stock Market Games for High Schools.

    Science.gov (United States)

    Lopus, Jane; Placone, Dennis

    2002-01-01

    Identifies a Web site providing information about stock market simulations for high school economics courses. Divides the information into two tables: (1) the structure of online stock market games; and (2) the determination of portfolio values of online stock market games. States that changes and updates are available at Web sites. (JEH)

  2. Students Invest in the Stock Market

    Science.gov (United States)

    Parker, George O.

    1977-01-01

    How one teacher motivated students to learn about the stock market by allowing them to actually invest money. Class discussion covered inexpensive ways to buy stock, choosing securities, and buying and selling stock. Suggestions are offered for adapting this project for use at the secondary level. (TA)

  3. Analysis on the Influence of Stock Index Futures on Chinese Stock Market

    Institute of Scientific and Technical Information of China (English)

    王钊

    2014-01-01

    As the first product of financial futures in China, CSI 300 Stock Index Futures is a symbol of the continual improvement and development of Chinese capital market system. So it would be bound to generate immeasurable influence on Chinese capital market and financial system. Starting from introducing the relevant summaries of stock index futures, this paper analyzes the influence of the stock index futures on the fluctuation in the international stock market;then, it analyzes influence of the stock index futures on the fluctuation in Chinese stock market, in order to propose some suggestions to the policies for developing Chinese stock index futures.

  4. Emperor penguins breeding on iceshelves.

    Science.gov (United States)

    Fretwell, Peter T; Trathan, Phil N; Wienecke, Barbara; Kooyman, Gerald L

    2014-01-01

    We describe a new breeding behaviour discovered in emperor penguins; utilizing satellite and aerial-survey observations four emperor penguin breeding colonies have been recorded as existing on ice-shelves. Emperors have previously been considered as a sea-ice obligate species, with 44 of the 46 colonies located on sea-ice (the other two small colonies are on land). Of the colonies found on ice-shelves, two are newly discovered, and these have been recorded on shelves every season that they have been observed, the other two have been recorded both on ice-shelves and sea-ice in different breeding seasons. We conduct two analyses; the first using synthetic aperture radar data to assess why the largest of the four colonies, for which we have most data, locates sometimes on the shelf and sometimes on the sea-ice, and find that in years where the sea-ice forms late, the colony relocates onto the ice-shelf. The second analysis uses a number of environmental variables to test the habitat marginality of all emperor penguin breeding sites. We find that three of the four colonies reported in this study are in the most northerly, warmest conditions where sea-ice is often sub-optimal. The emperor penguin's reliance on sea-ice as a breeding platform coupled with recent concerns over changed sea-ice patterns consequent on regional warming, has led to their designation as "near threatened" in the IUCN red list. Current climate models predict that future loss of sea-ice around the Antarctic coastline will negatively impact emperor numbers; recent estimates suggest a halving of the population by 2052. The discovery of this new breeding behaviour at marginal sites could mitigate some of the consequences of sea-ice loss; potential benefits and whether these are permanent or temporary need to be considered and understood before further attempts are made to predict the population trajectory of this iconic species.

  5. The effect of stock liquidity on the risk of falling stock prices: Evidence from the Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Mehdi Moghanloo

    2015-12-01

    Full Text Available Liquidity of the stock exchanges plays essential role on investment decisions and it is one of the factors that may influence on stock price. The easier one can buy/sell shares of a firm, the higher liquidity the firm has. In fact, lack of liquidity may lead investors to sell their assets at cheaper prices and it could influence negatively on overall market. The primary objective of this paper is to study the effect of stock liquidity on the risk of falling stock prices. The study chooses historical information of 70 selected firms listed on Tehran Stock Exchange over the period 2006-2012. The results of this survey have indicated that there was a negative and meaningful relationship between stock liquidity and stock price decline.

  6. Breeding monkeys for biomedical research

    Science.gov (United States)

    Bourne, G. H.; Golarzdebourne, M. N.; Keeling, M. E.

    1973-01-01

    Captive bred rhesus monkeys show much less pathology than wild born animals. The monkeys may be bred in cages or in an outdoor compound. Cage bred animals are not psychologically normal which makes then unsuited for some types of space related research. Compound breeding provides contact between mother and infant and an opportunity for the infants to play with their peers which are important requirements to help maintain their behavioral integrity. Offspring harvested after a year in the compound appear behaviorally normal and show little histopathology. Compound breeding is also an economical method for the rapid production of young animals. The colony can double its size about every two and a half years.

  7. Breeding quinoa (Chenopodium quinoa Willd.)

    DEFF Research Database (Denmark)

    Zurita-Silva, Andrés; Fuentes, Francisco; Zamora, Pablo;

    2014-01-01

    scale. In the Andes, quinoa has until recently been marginally grown by small-scale Andean farmers, leading to minor interest in the crop from urban consumers and the industry. Quinoa breeding programs were not initiated until the 1960s in the Andes, and elsewhere from the 1970s onwards. New molecular...... tools available for the existing quinoa breeding programs, which are critically examined in this review, will enable us to tackle the limitations of allotetraploidy and genetic specificities. The recent progress, together with the declaration of "The International Year of the Quinoa" by the Food...

  8. Should executive stock options be abandoned?

    OpenAIRE

    Choe, Chongwoo; Yin, Xiangkang

    2006-01-01

    Recent corporate scandals around the world have led many to single out executive stock options as one of the main culprits. More corporations are abandoning stock options and reverting to restricted stock. This paper argues that such a change is not entirely justifiable. We first provide a critical review of the pros and cons of executive stock options. We then compare option-based contracts with stock-based contracts using a simple principal-agent model with moral-hazard. In a general enviro...

  9. What Does Stock Ownership Breadth Measure?

    Science.gov (United States)

    Choi, James J; Jin, Li; Yan, Hongjun

    2013-07-01

    Using holdings data on a representative sample of all Shanghai Stock Exchange investors, we show that increases in ownership breadth (the fraction of market participants who own a stock) predict low returns: highest change quintile stocks underperform lowest quintile stocks by 23% per year. Small retail investors drive this result. Retail ownership breadth increases appear to be correlated with overpricing. Among institutional investors, however, the opposite holds: Stocks in the top decile of wealth-weighted institutional breadth change outperform the bottom decile by 8% per year, consistent with prior work that interprets breadth as a measure of short-sales constraints. PMID:24764801

  10. A controllable laboratory stock market for modeling real stock markets

    Science.gov (United States)

    An, Kenan; Li, Xiaohui; Yang, Guang; Huang, Jiping

    2013-10-01

    Based on the different research approaches, econophysics can be divided into three directions: empirical econophysics, computational econophysics, and experimental econophysics. Because empirical econophysics lacks controllability that is needed to study the impacts of different external conditions and computational econophysics has to adopt artificial decision-making processes that are often deviated from those of real humans, experimental econophysics tends to overcome these problems by offering controllability and using real humans in laboratory experiments. However, to our knowledge, the existing laboratory experiments have not convincingly reappeared the stylized facts (say, scaling) that have been revealed for real economic/financial markets by econophysicists. A most important reason is that in these experiments, discrete trading time makes these laboratory markets deviated from real markets where trading time is naturally continuous. Here we attempt to overcome this problem by designing a continuous double-auction stock-trading market and conducting several human experiments in laboratory. As an initial work, the present artificial financial market can reproduce some stylized facts related to clustering and scaling. Also, it predicts some other scaling in human behavior dynamics that is hard to achieve in real markets due to the difficulty in getting the data. Thus, it becomes possible to study real stock markets by conducting controlled experiments on such laboratory stock markets producing high frequency data.

  11. IMPROVEMENT SYSTEM OF BIOLOGICAL FACTORS MANAGEMENT IN THE BREEDING OF FARM ANIMALS

    Directory of Open Access Journals (Sweden)

    A. Shendakov

    2012-12-01

    Full Text Available Due to economical transformations of 1990-s in the sphere of milking cows breeding its profitability has grown low on many Russian cow-breeding farms, which was accompanied by the deterioration of zootechnical registration, selection and analytical approach to salvation of agro industrial complex topical problems. It caused the necessity of animal breeding enterprises reorganization. The introduction of intensive technologies, intellectual and methodical potential of domestic and foreign science to the animal breeding set a number of new problems before zootechnicians and stock-breeders. One of these tasks - improving the management of breeding and, especially, its biological factors (heritability, genetic correlations, the effect of heterosis, etc.. The situation is complicated by the fact that currently used in the selection of inbreeding, which often leads to inbreeding depression on intensity of growth, live weight, reproductive qualities and other selection signs. For the decision it is problems us researches of influence of inbreeding on efficiency of Black-and-White cows have been conducted. In scientific work the results of a comparative evaluation of milk yield of cows with inbreeding and conventional breeding. In the scientific is work studied the percentage of heifers and steers at calving, the number of calves-twins, stillborn calves and abortions in inbreeding and normal of animals groups. Inbreeding no had significant effect on stillbirths. The percentage of Holstein genes may influence of the sexes ratio in their offspring. The article presents the analysis of the level of development and the trends of production and selection in dairy cattle breeding, given prognosis for pig-breeding in Russia, a scheme of management of biological factors of selection, is work said about results of selection of Black-and-White, Simmental and Holstein cattle, also pig in Orel region.

  12. Phylogenetic relationships of three Italian merino-derived sheep breeds evaluated through a complete mitogenome analysis.

    Directory of Open Access Journals (Sweden)

    Hovirag Lancioni

    Full Text Available In Italy, the crisis of the wool industry triggered the necessity to reconvert the two traditional Merino-derived breeds, Gentile di Puglia and Sopravissana, to meat production, by creating the Merinizzata Italiana. The aim of the present study was to assess the genetic diversity of these three Italian Merino-derived (IMd breeds by examining the molecular information encoded in the maternally-inherited mitochondrial DNA (mtDNA. A parallel molecular investigation was performed on the putative paternal and maternal breeds, the Merino from Spain and the Appenninica from Italy, respectively, as well as on three unrelated dairy breeds (Sarda and Comisana from Italy, and Lacaune from France. Firstly, the mtDNA control region of 291 samples was analyzed. When comparing the overall genetic distances among the eight stocks, the three IMd breeds clustered together close to the Appenninica, thus confirming its parental role. Among the 90 IMd samples, 82 different haplotypes were observed, almost all belonging to haplogroup B, and only one to A. For 23 mtDNAs, including nine IMd, the analysis was then brought to the level of entire mitogenomes. Three distinct sub-haplogroups within B were found to encompass the IMd samples, with one clade (B1a2a1 apparently restricted to those sheep. Thus, despite experiencing a drastic reduction in number (mainly due to changes in breeding practices driven by the economy, the IMd breeds still represent a reservoir of distinctive mitochondrial variants, which could potentially contribute to the development of conservation and management programs of Italian sheep breeds.

  13. Accuracy of direct genomic breeding values for nationally evaluated traits in US Limousin and Simmental beef cattle

    Directory of Open Access Journals (Sweden)

    Saatchi Mahdi

    2012-12-01

    . The efficiencies were higher for 323 non-genotyped young Simmental animals, born after January 2012, and ranged from 0.60 to 2.04. Conclusions Direct genomic breeding values show promise for routine use by Limousin and Simmental breeders to improve the accuracy of predicted genetic merit of their animals at a young age and increase response to selection. Benefits from selecting on direct genomic breeding values are greater for breeders who use natural mating sires in their herds than for those who use artificial insemination sires. Producers with unregistered commercial Limousin and Simmental cattle could also benefit from being able to identify genetically superior animals in their herds, an opportunity that has in the past been limited to seed stock animals.

  14. Cross-correlations in Warsaw Stock Exchange

    CERN Document Server

    Rak, R; Drozdz, S; Oswiecimka, P

    2008-01-01

    We study the inter-stock correlations for the largest companies listed on Warsaw Stock Exchange and included in the WIG20 index. Our results from the correlation matrix analysis indicate that the Polish stock market can be well described by a one factor model. We also show that the stock-stock correlations tend to increase with the time scale of returns and they approach a saturation level for the time scales of at least 200 min, i.e. an order of magnitude longer than in the case of some developed markets. We also show that the strength of correlations among the stocks crucially depends on their capitalization. These results combined with our earlier findings together suggest that now the Polish stock market situates itself somewhere between an emerging market phase and a mature market phase.

  15. Enhanced resistance of Portunus trituberculatus to Vibrio alginolyticus by selective breeding

    Institute of Scientific and Technical Information of China (English)

    MU Changkao; LIU Shuai; SONG Weiwei; LI Ronghua; WANG Chunlin

    2012-01-01

    We established a line (screened) of Portunus trituberculatus by selectively breeding individuals that survived from challenge with Vibrio alginolyticus,and compared the response of screened and unscreened (control) P.trituberculatus challenged with V.alginolyticus.We measured superoxide dismutase,catalase,acid phosphatase,alkaline phosphatase,and peroxidase activity and the content of hemocyanin in the plasma and phenoloxidase activity in serum.The cumulative survival rate after 24-h challenge with V.alginolyticus was significantly higher in the screened crabs than in the unscreened crabs (P<0.05).T-SOD and PO activity were significantly lower in the screened stock than in the unscreened stock (P<0.05).POD,CAT,and ACP activity and hemocyanin content were significantly higher in the screened stock than in the unscreened stock.Our results suggest that the screened stock was more resistant to infection.Furthermore,the indices we measured may be used to evaluate the health state of P.trituberculatus.

  16. Rose breeding: past, present, prospects

    NARCIS (Netherlands)

    Vries, de D.P.; Dubois, L.A.M.

    1996-01-01

    In this review the PAST, PRESENT and PROSPECT will be considered as three separate periods in the history of the breeding and development of rose cultivars. The recurring theme is the genetic variation. This theme was chosen because there is justified doubt as to sufficient genetic variation availab

  17. Breeding for Grass Seed Yield

    DEFF Research Database (Denmark)

    Boelt, Birte; Studer, Bruno

    2010-01-01

    important aspects and components affecting the seed yield potential and the agronomic and environmental aspects affecting the utilization and realization of the seed yield potential. Finally, it discusses the potential of plant breeding to sustainably improve total seed yield in fodder and amenity grasses....

  18. Induced mutations in sesame breeding

    International Nuclear Information System (INIS)

    The scope of induced mutations in sesame (Sesamum indicum L.) breeding is reviewed. So far in Egypt, India, Iraq, Rep. of Korea, and Sri Lanka, 14 officially released varieties have been developed through induced mutations: 12 directly and 2 through cross breeding (one using the 'dt45' induced mutant from Israel). For another variety released in China there are no details. The induced mutations approach was adopted primarily in order to obtain genetic variability that was not available in the germplasm collection. The mutagens commonly applied have been gamma rays, EMS and sodium azide. Sesame seeds can withstand high mutagen doses, and there are genotypic differences in sensitivity between varieties. The mutants induced in the above named countries and others include better yield, improved seed retention, determinate habit, modified plant architecture and size, more uniform and shorter maturation period, earliness, resistance to diseases, genic male sterility, seed coat color, higher oil content and modified fatty acids composition. Some of the induced mutants have already given rise to improved varieties, the breeding value of other mutants is now being assessed and still others can serve as useful markers in genetic studies and breeding programmes. (author)

  19. USDA lettuce breeding and genetics

    Science.gov (United States)

    The lettuce industry of California requires continued development of improved, adapted cultivars to meet new disease and insect problems, changes in the market, and changes in growing procedures. The USDA lettuce breeding and genetics project aims to incorporate valuable traits into crisphead, mixed...

  20. Solow Residuals Without Capital Stocks

    DEFF Research Database (Denmark)

    Burda, Michael C.; Severgnini, Battista

    2014-01-01

    We use synthetic data generated by a prototypical stochastic growth model to assess the accuracy of the Solow residual (Solow, 1957) as a measure of total factor productivity (TFP) growth when the capital stock in use is measured with error. We propose two alternative measurements based on current...... measurement problems are particularly severe for economies still far from their steady state. This drawback of the Solow residual is thus most acute in applications in which its accuracy is most highly valued. As an application, we compute and compare TFP growth measures for developing countries in the Heston...... investment expenditures: one eliminates the capital stock by direct substitution, while the other employs generalized differences of detrended data and the Malmquist index. In short samples, these measures can exhibit consistently lower root mean squared errors than the Solow–Törnqvist counterpart. Capital...

  1. Is the stock market efficient?

    Science.gov (United States)

    Malkiel, B G

    1989-03-10

    A stock market is said to be efficient if it accurately reflects all relevant information in determining security prices. Critics have asserted that share prices are far too volatile to be explained by changes in objective economic events-the October 1987 crash being a case in point. Although the evidence is not unambiguous, reports of the death of the efficient market hypothesis appear premature. PMID:17808264

  2. Taxonomy of Stock Market Indices

    OpenAIRE

    Giovanni Bonanno; Nicolas Vandewalle; Mantegna, Rosario N.

    2000-01-01

    We investigate sets of financial non-redundant and nonsynchronously recorded time series. The sets are composed by a number of stock market indices located all over the world in five continents. By properly selecting the time horizon of returns and by using a reference currency we find a meaningful taxonomy. The detection of such a taxonomy proves that interpretable information can be stored in a set of nonsynchronously recorded time series.

  3. Taxonomy of stock market indices

    Science.gov (United States)

    Bonanno, Giovanni; Vandewalle, Nicolas; Mantegna, Rosario N.

    2000-12-01

    We investigate sets of financial nonredundant and nonsynchronously recorded time series. The sets are composed by a number of stock market indices located all over the world in five continents. By properly selecting the time horizon of returns and by using a reference currency we find a meaningful taxonomy. The detection of such a taxonomy proves that interpretable information can be stored in a set of nonsynchronously recorded time series.

  4. Statistical modelling of fish stocks

    DEFF Research Database (Denmark)

    Kvist, Trine

    1999-01-01

    for modelling the dynamics of a fish population is suggested. A new approach is introduced to analyse the sources of variation in age composition data, which is one of the most important sources of information in the cohort based models for estimation of stock abundancies and mortalities. The approach combines...... and it is argued that an approach utilising stochastic differential equations might be advantagous in fish stoch assessments....

  5. Tick size and stock returns

    Science.gov (United States)

    Onnela, Jukka-Pekka; Töyli, Juuso; Kaski, Kimmo

    2009-02-01

    Tick size is an important aspect of the micro-structural level organization of financial markets. It is the smallest institutionally allowed price increment, has a direct bearing on the bid-ask spread, influences the strategy of trading order placement in electronic markets, affects the price formation mechanism, and appears to be related to the long-term memory of volatility clustering. In this paper we investigate the impact of tick size on stock returns. We start with a simple simulation to demonstrate how continuous returns become distorted after confining the price to a discrete grid governed by the tick size. We then move on to a novel experimental set-up that combines decimalization pilot programs and cross-listed stocks in New York and Toronto. This allows us to observe a set of stocks traded simultaneously under two different ticks while holding all security-specific characteristics fixed. We then study the normality of the return distributions and carry out fits to the chosen distribution models. Our empirical findings are somewhat mixed and in some cases appear to challenge the simulation results.

  6. Breeding for behavioural change in farm animails

    DEFF Research Database (Denmark)

    Sandøe, Peter; D'eath, RB; Lawrence, AB;

    2009-01-01

    In farm animal breeding, behavioural traits are rarely included in selection programmes despite their potential to improve animal production and welfare. Breeding goals have been broadened beyond production traits in most farm animal species to include health and functional traits...

  7. Breeding for behavioural change in farm animals

    DEFF Research Database (Denmark)

    D'Eath, R.B.; Conington, J.; Lawrence, A.B.;

    2010-01-01

    In farm animal breeding, behavioural traits are rarely included in selection programmes despite their potential to improve animal production and welfare. Breeding goals have been broadened beyond production traits in most farm animal species to include health and functional traits...

  8. Ecological problems in horse-breeding

    OpenAIRE

    Y. V. Zachinyaew; A. A. Anischenko

    2005-01-01

    In the article is represented general information devoted to environmental problems in the horse- breeding. The concept of development of ecological explorations in the horse-breeding is considered as well.

  9. Plant breeding and genetics newsletter. No. 2

    International Nuclear Information System (INIS)

    This is the second issue of the Plant Breeding and Genetics Newsletter. The Newsletter will inform you about current activities of the FAO/IAEA sub-programme on plant breeding and genetics which is implemented by the Plant Breeding and Genetics Section of the Joint FAO/IAEA Division of Nuclear Techniques in Food and Agriculture (Vienna) in close collaboration with the Plant Breeding Unit of the FAO/IAEA Agriculture and Biotechnology Laboratory (Seibersdorf)

  10. Plant breeding and genetics newsletter. No. 1

    International Nuclear Information System (INIS)

    This is the first issue of the Plant Breeding and Genetics Newsletter. The Newsletter will inform you about current activities of the FAO/IAEA sub-programme on plant breeding and genetics which is implemented by the Plant Breeding and Genetics Section of the Joint FAO/IAEA Division of Nuclear Techniques in Food and Agriculture (Vienna) in close collaboration with the Plant Breeding Unit of the FAO/IAEA Agriculture and Biotechnology Laboratory (Seibersdorf)

  11. The past and future of food stocks

    International Nuclear Information System (INIS)

    Human societies rely on food reserves and the importation of agricultural goods as means to cope with crop failures and associated food shortage. While food trade has been the subject of intensive investigations in recent years, food reserves remain poorly quantified. It is unclear how food stocks are changing and whether they are declining. In this study we use food stock records for 92 products to reconstruct 50 years of aggregated food reserves, expressed in caloric equivalent (kcal), at the regional and global scales. A detailed statistical analysis demonstrates that the overall regional and global per-capita food stocks are stationary, challenging a widespread impression that food reserves are shrinking. We develop a statistically-sound stochastic representation of stock dynamics and take the stock-halving probability as a measure of the natural variability of the process. We find that there is a 20% probability that the global per-capita stocks will be halved by 2050. There are, however, some strong regional differences: Western Europe and the region encompassing North Africa and the Middle East have smaller halving probabilities and smaller per-capita stocks, while North America and Oceania have greater halving probabilities and greater per-capita stocks than the global average. Africa exhibits low per-capita stocks and relatively high probability of stock halving by 2050, which reflects a state of higher food insecurity in this continent. (letter)

  12. Selection criteria in organic cattle breeding

    OpenAIRE

    Savić Mila; Dimitrijević Vladimir; Trailović Ružica; Vegara Mensur; Dimitrijević Blagoje; Bečkei Žolt; Petrujkić Branislav; Cojkić Aleksandar

    2014-01-01

    The central issue in process of organizing organic cattle breeding is the knowledge about specificities of this kind of production, good knowledge of breed characteristics (body composition, immune tolerance, expressed predisposition towards some diseases, production properties). Research centres, in collaboration with producers, have defined the essential features on which the selection programmes in organic cattle breeding are based on. Of the greatest im...

  13. Grooming relationships between breeding females and adult group members in cooperatively breeding moustached tamarins (Saguinus mystax).

    Science.gov (United States)

    Löttker, Petra; Huck, Maren; Zinner, Dietmar P; Heymann, Eckhard W

    2007-10-01

    Grooming is the most common form of affiliative behavior in primates that apart from hygienic and hedonistic benefits offers important social benefits for the performing individuals. This study examined grooming behavior in a cooperatively breeding primate species, characterized by single female breeding per group, polyandrous matings, dizygotic twinning, delayed offspring dispersal, and intensive helping behavior. In this system, breeding females profit from the presence of helpers but also helpers profit from staying in a group and assisting in infant care due to the accumulation of direct and indirect fitness benefits. We examined grooming relationships of breeding females with three classes of partners (breeding males, potentially breeding males, (sub)adult non-breeding offspring) during three reproductive phases (post-partum ovarian inactivity, ovarian activity, pregnancy) in two groups of wild moustached tamarins (Saguinus mystax). We investigated whether grooming can be used to regulate group size by either "pay-for-help" or "pay-to-stay" mechanisms. Grooming of breeding females with breeding males and non-breeding offspring was more intense and more balanced than with potentially breeding males, and most grooming occurred during the breeding females' pregnancies. Grooming was skewed toward more investment by the breeding females with breeding males during the phases of ovarian activity, and with potentially breeding males during pregnancies. Our results suggest that grooming might be a mechanism used by female moustached tamarins to induce mate association with the breeding male, and to induce certain individuals to stay in the group and help with infant care.

  14. Emperor penguins breeding on iceshelves.

    Directory of Open Access Journals (Sweden)

    Peter T Fretwell

    Full Text Available We describe a new breeding behaviour discovered in emperor penguins; utilizing satellite and aerial-survey observations four emperor penguin breeding colonies have been recorded as existing on ice-shelves. Emperors have previously been considered as a sea-ice obligate species, with 44 of the 46 colonies located on sea-ice (the other two small colonies are on land. Of the colonies found on ice-shelves, two are newly discovered, and these have been recorded on shelves every season that they have been observed, the other two have been recorded both on ice-shelves and sea-ice in different breeding seasons. We conduct two analyses; the first using synthetic aperture radar data to assess why the largest of the four colonies, for which we have most data, locates sometimes on the shelf and sometimes on the sea-ice, and find that in years where the sea-ice forms late, the colony relocates onto the ice-shelf. The second analysis uses a number of environmental variables to test the habitat marginality of all emperor penguin breeding sites. We find that three of the four colonies reported in this study are in the most northerly, warmest conditions where sea-ice is often sub-optimal. The emperor penguin's reliance on sea-ice as a breeding platform coupled with recent concerns over changed sea-ice patterns consequent on regional warming, has led to their designation as "near threatened" in the IUCN red list. Current climate models predict that future loss of sea-ice around the Antarctic coastline will negatively impact emperor numbers; recent estimates suggest a halving of the population by 2052. The discovery of this new breeding behaviour at marginal sites could mitigate some of the consequences of sea-ice loss; potential benefits and whether these are permanent or temporary need to be considered and understood before further attempts are made to predict the population trajectory of this iconic species.

  15. Canine hip dysplasia: phenotypic scoring and the role of estimated breeding value analysis.

    Science.gov (United States)

    Soo, M; Worth, Aj

    2015-03-01

    Canine hip dysplasia (CHD) is a developmental orthopaedic disease of the coxofemoral joints with a multifactorial mode of inheritance. Multiple gene effects are influenced by environmental factors; therefore, it is unlikely that a simple genetic screening test with which to identify susceptible individuals will be developed in the near future. In the absence of feasible methods for objectively quantifying clinical CHD, radiographic techniques have been developed and widely used to identify dogs for breeding which are less affected by the disease. A hip-extended ventrodorsal view of the pelvis has been traditionally used to identify dogs with subluxation and/or osteoarthritis of the coxofemoral joints. More recently, there has been emphasis on the role of coxofemoral joint laxity as a determinant of CHD and methods have been developed to measure passive hip laxity. Though well-established worldwide, the effectiveness of traditional phenotypic scoring schemes in reducing the prevalence of CHD has been variable. The most successful implementation of traditional CHD scoring has occurred in countries or breeding colonies with mandatory scoring and open registries with access to pedigree records. Several commentators have recommended that for quantitative traits like CHD, selection of breeding stock should be based on estimated breeding values (EBV) rather than individual hip score/grade. The EBV is a reflection of the genetic superiority of an animal compared to its counterparts and is calculated from the phenotype of an individual and its relatives and their pedigree relationship. Selecting breeding stock on the basis of a dog's genetic merit, ideally based on a highly predictive phenotype, will confer the breeder with greater selection power, accelerate genetic improvement towards better hip conformation and thus more likely decrease the prevalence of CHD.

  16. ARTIFICIAL PROPAGATION AND BREEDING OF MARINE FISH IN CHINA

    Institute of Scientific and Technical Information of China (English)

    洪万树; 张其永

    2002-01-01

    Since the 1990s, artificial propagation and breeding technique of marine fish in China have developed by way of increasing species and fry numbers, with special stress laid on valuable species. Large quantities of artificial fry can meet the needs of both marine cage culture and pond culture for most species. Experimental results obtained by scientists have been put into use in actual production. Fish fry production has entered a period of sustainable development. So far, at least 44 species (21 families) of marine fish have been successfully bred in China. The artificial fry number of large yellow croaker (Pseudosciaena crocea) exceeded 300 million in 1999. The species whose artificial fry numbers have each surpassed 10 million annually are red drum (Sciaenops ocellatus), Japanese seabass (Lateolabrax japonicus), cuneate drum (Nibea miichthioides), spring spawning red seabream (Pagrosomus major) and threebanded sweetlip (Plectorhynchus cinctus). Millions of artificial fry are bred annually in the species of black porgy (Sparus macrocephalus), Russell's snapper (Lutjanus russelli), javelin grunt (Pomadasys hasta), miiuy croaker (Miichthys miiuy) and skewband grunt (Hapalogenys nitens). The fish in the family Sciaenidae are the main species in artificial propagation and breeding. Some problems and prospects on marine fish culture and stock enhancement are also discussed and some proposals for sustainable development are put forward in this article.

  17. Some Questions of the Competitiveness of Hungarian Sheep-breeding

    Directory of Open Access Journals (Sweden)

    Gyula Toldi

    2003-06-01

    Full Text Available The authors did economic calculations examining the possibilities for the raise of rentability in Hungarian sheep-breeding sector. It was been counting with a flock of 300 ewes. While analysing four models were set up. The first represents the economic parameters of the present average and in a certain way traditional sheep-farming. This model, which symbolises the present situation, is able to provide maximum 47,827 HUF income for a sheperd, parallel with a loss of 843,495 HUF. The second model shows the possible production of the Hungarian merino flocks determined by its genetically limited productivity and technology. It ensures the opportunity to spend 550,000 HUF to expansion above average rental. This amount might be increased with a yearly subsidy of 450,000 HUF plus the 831,610 HUF extra EU payments. The third model is based on the results of an upgrade with prolific breeds in order to better meat performance. The possible result in this case was 1,324,412 HUF, which sum would be supplemented with the subsidies and direct EU payments. The professional management of milking stocks may raise the net income with extra 600,000 HUF. (Model number four.

  18. To breed or not to breed: a seabird's response to extreme climatic events

    OpenAIRE

    Cubaynes, Sarah; Doherty, Paul F.; Schreiber, E. A.; Gimenez, Olivier

    2010-01-01

    Intermittent breeding is an important life-history strategy that has rarely been quantified in the wild and for which drivers remain unclear. It may be the result of a trade-off between survival and reproduction, with individuals skipping breeding when breeding conditions are below a certain threshold. Heterogeneity in individual quality can also lead to heterogeneity in intermittent breeding. We modelled survival, recruitment and breeding probability of the red-footed booby (Sula sula), usin...

  19. Current trends in plant breeding

    International Nuclear Information System (INIS)

    The current world population is 6 billion and it is likely to reach 7 billion in 2010 and 8 billion 2025. Sufficient food must be produced for the ever increasing human population. The available suitable land for intensive agriculture is limited. We have to produce more food from less land, pesticide, labour and water resources. Hence, increase in crop productivity are essential to feed the world in the next century. Plant breeding provides the avenue to increase the food production to feed the growing world population. Development of a cultivar involves (I) Construction of a genetic model (II) creating a gene pool (III) selection among plants and (IV) testing the selected genotypes for adaptation to the biotic and abiotic environments (Frey, 1999). This paper discusses the trends in plant breeding using the oil palm as a model. It covers (i) genetic resources (ii) physiological traits (III) exploitation of genotype x environment interaction (IV) oil palm clones, and (v) biotechnology application. (Author)

  20. Visualization of a stock market correlation matrix

    Science.gov (United States)

    Rea, Alethea; Rea, William

    2014-04-01

    This paper presents a novel application of Neighbor-Net, a clustering algorithm developed for constructing a phylogenetic network in the field of evolutionary biology, to visualizing a correlation matrix. We apply Neighbor-Net as implemented in the SplitsTree software package to 48 stocks listed on the New Zealand Stock Exchange. We show that by visualizing the correlation matrix using a Neighbor-Net splits graph and its associated circular ordering of the stocks that some of the problems associated with understanding the large number of correlations between the individual stocks can be overcome. We compare the visualization of Neighbor-Net with that provided by hierarchical clustering trees and minimum spanning trees. The use of Neighbor-Net networks, or splits graphs, yields greater insight into how closely individual stocks are related to each other in terms of their correlations and suggests new avenues of research into how to construct small diversified stock portfolios.

  1. Islamic stock markets and potential diversification benefits

    Directory of Open Access Journals (Sweden)

    Mouna Boujelbène Abbes

    2015-06-01

    Full Text Available The aim of this paper is to investigate whether the dynamic integration across a large set of developed and emerging Islamic stock markets allows potential diversification benefits in tranquil and turmoil periods. Using the multivariate cointegration test, we find the presence of long-run equilibrium relationship among Islamic stock markets of similar economic grouping. While, Islamic stock markets from different economic grouping are partially segmented. Empirical results of estimated Vector Error Correction Model provide a lowest level of short run integration among the economic grouping of European-Asian emerging markets, MENA-Latin American and European-Latin American Islamic stock markets. In addition, the level of integration and causality relations among Islamic stock markets tends to change over time, mainly during periods characterized by financial crises. Overall, our results suggest that Shariah compliant stocks could offer potential diversification benefits by considering different economic grouping such as that in developed and emerging countries.

  2. Mutation breeding newsletter. No. 38

    International Nuclear Information System (INIS)

    This issue contains a number of contributions from readers describing experiments in plant breeding (the individual items are indexed separately) and a report on the 30th Gamma-Field Symposium held in Tsukuba, Japan in July 1991. Also included is a list of officially released mutant varieties of seed-propagated crops taken from the FAO/IAEA database of mutant varieties. It is planned to organize a database on available crop plant mutant variety germplasm collections. Refs, figs and tabs

  3. Mutation breeding newsletter. No. 41

    International Nuclear Information System (INIS)

    This newsletter contains short descriptions of research methods for the use of radiation to induce mutations and facilitate plant breeding. This method is used to develop species of plants that can survive in harsh climates and thus provide a food supply for humans and animals. Some of the mutants discussed include a salt tolerant barley, a disease resistant shrub, a cold tolerant chickpea, a highly productive Canavalia virosa and productive tomato. Refs, figs and tabs

  4. Stock selection using a hybrid MCDM approach

    Directory of Open Access Journals (Sweden)

    Tea Poklepović

    2014-12-01

    Full Text Available The problem of selecting the right stocks to invest in is of immense interest for investors on both emerging and developed capital markets. Moreover, an investor should take into account all available data regarding stocks on the particular market. This includes fundamental and stock market indicators. The decision making process includes several stocks to invest in and more than one criterion. Therefore, the task of selecting the stocks to invest in can be viewed as a multiple criteria decision making (MCDM problem. Using several MCDM methods often leads to divergent rankings. The goal of this paper is to resolve these possible divergent results obtained from different MCDM methods using a hybrid MCDM approach based on Spearman’s rank correlation coefficient. Five MCDM methods are selected: COPRAS, linear assignment, PROMETHEE, SAW and TOPSIS. The weights for all criteria are obtained by using the AHP method. Data for this study includes information on stock returns and traded volumes from March 2012 to March 2014 for 19 stocks on the Croatian capital market. It also includes the most important fundamental and stock market indicators for selected stocks. Rankings using five selected MCDM methods in the stock selection problem yield divergent results. However, after applying the proposed approach the final hybrid rankings are obtained. The results show that the worse stocks to invest in happen to be the same when the industry is taken into consideration or when not. However, when the industry is taken into account, the best stocks to invest in are slightly different, because some industries are more profitable than the others.

  5. CAPM validity on the US stock market

    OpenAIRE

    Širůček, Martin; Šoba, Oldřich; Němeček, Jaroslav

    2014-01-01

    Purpose of the article: The present article is focused on the Capital Asset Pricing Model (CAPM) and its implementation into American Stock Market. It attempts to empirically test the validity of the CAPM to estimate individual stock returns based on historical stock data of selected companies. Security Market Line (SML) was used on the data collected from a wide range of investment horizons (periods of 1, 3, 5, and 10 years). The results show that the coefficient beta is incapabl...

  6. Do Stock Dividends Generate Abnormal Returns?

    OpenAIRE

    Torgal, Kishan

    2009-01-01

    In this paper I have studied and understood the concepts of stock dividends, stock splits and the announcement effects and the effective day effects by using the standard event studies methodology which measures the significance of the abnormal returns. The previous studies have significant positive abnormal returns. In my results its shown that the as there is some significant abnormal returns which are connected with the announcement and effective day of the stock splits but it changes...

  7. Efficient Circulation of Railway Rolling Stock

    OpenAIRE

    Alfieri, Arianna; Groot, Rutger; Kroon, Leo; Schrijver, Lex

    2002-01-01

    textabstractRailway rolling stock (locomotives, carriages, and train units) is one of the most significant cost sources for operatorsof passenger trains, both public and private. Rolling stock costsare due to material acquisition, power supply, and material maintenance. The efficient circulation of rolling stock material is therefore one of the objectives pursued. In this paper we focus on the circulation of train units on a single line. In order to utilize the train units on this line in an ...

  8. Economic Analysis of Leading Logistics Companies' Stocks

    OpenAIRE

    Chyška, Pavel

    2013-01-01

    The bachelor thesis focuses on analysis of leading logistics companies’ stocks. Literature review defines logistics as a rapidly evolving discipline, which has its roots far in the history. Logistics is also recognized as an important force that helps to drive the global economy. Supply chain and outsourcing are also discussed since they are very much connected to logistics. Stock market and important indexes are evaluated along with different types of stock charts in the literature review, a...

  9. Validating Virtual Safety Stock Effectiveness through Simulation

    OpenAIRE

    Maria Elena Nenni; Massimiliano M. Schiraldi

    2013-01-01

    As a means of avoiding stock‐outs, safety stocks play an important role in achieving customer satisfaction and retention. However, traditional safety stock theory is based on the assumption of the immediate delivery of the ordered products, which is not a common condition in business‐to‐business contexts. Virtual safety stock theory was conceived to raise the service level by exploiting the potential time interval in the order‐to‐delivery process. Nevertheless, its mathematical complexity pre...

  10. Equity Issues and Stock Price Dynamics

    OpenAIRE

    Deborah J. Lucas; Robert L. McDonald

    1989-01-01

    This paper presents an information-theoretic, infinite horizon model of the equity issue decision. The model's predictions about stock price behavior and issue timing explain most of the stylized facts in the empirical literature: (a) equity issues on average are preceded by an abnormal positive return on the stock, although there is considerable variation across firms, (b) equity issues on average are preceded by an abnormal rise in the market, and (c) the stock price drops significantly at ...

  11. Stock Market Scale by Artificial Insymmetrised Patterns

    OpenAIRE

    Danuta Makowiec

    2002-01-01

    Large and stable indices of the world wide stock markets such as NYSE and SP 500 together with NASDAQ -- the index representing markets of new trends, and WIG -- the index of the local stock market of Eastern Europe, are considered. Due to the relation between artificial insymmetrised patterns (AIP) and time series, stationary and temporary properties of stock market indices are identified. By filtering extreme events it is found that fluctuations are self-similar. Snap-shots in time lead to ...

  12. Stock Market Volatility and Corporate Investment

    OpenAIRE

    Zuliu Hu

    1995-01-01

    Despite concerns are often voiced on the so called “excess volatility” of the stock market, little is known about the implications of market volatility for the real economy. This paper examines whether the stock market volatility affects real fixed investment. The empirical evidence obtained from the US data shows that market volatility has independent effects on investment over and above that of stock returns. Volatility and its changes are negatively related to investment growth. To the ext...

  13. Macroeconomic Forces and Stock Returns in Vietnam

    OpenAIRE

    Phan, Van Hang

    2008-01-01

    Capital market development, especially the appearance of Vietnamese equity market recently has a strategic importance in the economic growth and structural reform process of Vietnam (Chun et al, 2003). This dissertation focuses on the impacts of macroeconomic forces on stock market returns in Vietnamese stock market which has not been investigated in detail before, and thereby to contribute further literature on this new emerging stock market. Specifically, the research will intensively inves...

  14. Stock Market Volatility and the Business Cycle

    OpenAIRE

    Burkhard Raunig; Johann Scharler

    2010-01-01

    In this paper we provide a review of the literature on the link between stock market volatility and aggregate demand. In particular, we focus on the implications of the so-called uncertainty hypothesis according to which it is primarily the uncertainty associated with stock market fluctuations that influences aggregate demand. Empirical studies find that stock market volatility indeed feeds back into the real economy.

  15. Institutional Investors, Stock Repurchases and Information Asymmetry

    OpenAIRE

    Ricky W. Scott

    2014-01-01

    This paper seeks to determine if institutional investors influence stock repurchases. Specifically, this study tests whether institutional investors encourage stock repurchases in firms with high information asymmetry. Firm and year fixed effect regressions examining the effect of changes in institutional investor levels to subsequent changes in stock repurchase levels are used. For robustness, regressions are run using difference-GMM regressions and regressions for different time periods on ...

  16. Evidence of portuguese stock market abnormal returns

    OpenAIRE

    Duarte, Elisabete Mendes; Oliveira, Lisete Trindade

    2011-01-01

    According to the stock market efficiency theory, it is not possible to consistently beat the market. However, technical analysis is more and more spread as an efficient way to achieve abnormal returns. In fact there is evidence that momentum investing strategies provide abnormal returns in different stock markets, Jegadeesh, N. and Titman, S. (1993), George, T. and Hwang, C. (2004) and Du, D. (2009). In this work we study if like other markets, the Portuguese stock market also allows to obtai...

  17. Major Factors influences the 2008 Stock Market

    Institute of Scientific and Technical Information of China (English)

    Chun; Yi

    2008-01-01

      2007 was an unusual year for China's stock market, as the index climbed from 2675 points up to 6124 by the end of the year, setting new records again and again throughout 2007. What will happen to the stock market in the coming 2008? Let's havea look at some of the main factors that will influence the stock market this year, perhaps we can find out if 2008 will be another memorable year full of surprises.……

  18. Looking Back on the Stock Market

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    @@ Looking back at the ups and downs of China's stock market in 2007,it is clear that it has developed far beyond people's expectation. While the stock index constantly reaches new highs and the size of the market becomes larger and larger, the Chinese financial market has also reintegrated. A multi-level revolution occurred in 2007, involving changes in stock structure, the variety of core composition, chip cost of the capital market, investor makeup, as well as trade rules and operational methods.

  19. Major Factors influences the 2008 Stock Market

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    @@ 2007 was an unusual year for China's stock market, as the index climbed from 2675 points up to 6124 by the end of the year, setting new records again and again throughout 2007. What will happen to the stock market in the coming 2008? Let's havea look at some of the main factors that will influence the stock market this year, perhaps we can find out if 2008 will be another memorable year full of surprises.

  20. Can risk aversion explain stock price volatility?

    OpenAIRE

    Stephen F. LeRoy

    2013-01-01

    Why are the prices of stocks and other assets so volatile? Efficient capital markets theory implies that stock prices should be much less volatile than actually observed, reflecting an unrealistic assumption that investors are risk neutral. If instead investors are assumed to be risk averse, predicted volatility is higher. However, models that incorporate investor avoidance of risk can explain real-world stock price volatility only under levels of risk aversion that are unrealistically high. ...

  1. Statistical Facts of Artificial Stock Market

    OpenAIRE

    Hokky Situngkir; Yohanes Surya

    2004-01-01

    The paper reports the construction of artificial stock market that emerges the similar statistical facts with real data in Indonesian stock market. We use the individual but dominant data, i.e.: PT TELKOM in hourly interval. The artificial stock market shows standard statistical facts, e.g.: volatility clustering, the excess kurtosis of the distribution of return, and the scaling properties with its breakdown in the crossover of Levy distribution to the Gaussian one. From this point, the arti...

  2. Charge Breeding of Radioactive Ions

    CERN Document Server

    Wenander, F J C

    2013-01-01

    Charge breeding is a technique to increase the charge state of ions, in many cases radioactive ions. The singly charged radioactive ions, produced in an isotope separator on-line facility, and extracted with a low kinetic energy of some tens of keV, are injected into a charge breeder, where the charge state is increased to Q. The transformed ions are either directed towards a dedicated experiment requiring highly charged ions, or post-accelerated to higher beam energies. In this paper the physics processes involved in the production of highly charged ions will be introduced, and the injection and extraction beam parameters of the charge breeder defined. A description of the three main charge-breeding methods is given, namely: electron stripping in gas jet or foil; external ion injection into an electron-beam ion source/trap (EBIS/T); and external ion injection into an electron cyclotron resonance ion source (ECRIS). In addition, some preparatory devices for charge breeding and practical beam delivery aspects ...

  3. SOYBEAN - MOLECULAR ASPECTS OF BREEDING

    Directory of Open Access Journals (Sweden)

    Aleksandra Sudarić

    2012-12-01

    Full Text Available The book Soybean: Molecular Aspects of Breeding focuses recent progress in our understanding of the genetics and molecular biology of soybean. This book is divided into four parts and contains 22 chapters. Part I, Molecular Biology and Biotechnology focuses advances in molecular biology and laboratory procedures that have been developed recently to manipulate DNA. Part II, Breeding for abiotic stress covers proteomics approaches form as a powerful tool for investigating the molecular mechanisms of the plant responses to various types of abiotic stresses. Part III, Breeding for biotic stress addresses issues related to application of molecular based strategies in order to increase soybean resistance to various biotic factors. Part IV, Recent Technology reviews recent technologies into the realm of soybean monitoring, processing and product use. While the information accumulated in this book is of primary interest for plant breeders, valuable insights are also offered to agronomists, molecular biologists, physiologists, plant pathologists, food scientists and students. The book is a result of efforts made by many experts from different countries (USA, Japan, Croatia, Serbia, China, Canada, Malawi, Iran, Hong Kong, Brasil, Mexico.

  4. Effects of Duroc Breeding Lines on Carcass Composition and Meat Quality.

    Science.gov (United States)

    Choi, Jung-Seok; Jin, Sang-Keun; Choi, Yang-Il; Lee, Jae-Joon

    2015-01-01

    This study was performed to investigate the carcass composition and pork quality of Duroc breeding lines in Korea. A total of 200 Duroc pigs were used, and those were originated from four different great-grandparent (GGP) breeding stock farms (L1: N farm, L2: W farm, L3: S farm, L4: R farm). The carcasses of pigs from these farms were collected, and meat quality traits were evaluated. L1 and L2 had smaller carcass weights and thin backfat, whereas L3 and L4 had heavy carcass weights and thick backfat. L3 and L4 had higher contents of fat and protein than L1 and L2. For the meat quality characteristics, L1, L2, and L4 had higher pH values than L3. In addition, L4 had higher water holding capacity than the other lines. L4 had the highest sensory evaluation scores with regard to both juiciness and flavor. Consequently, the study results indicate that pork quality information from domestic Duroc breeding stock lines could be used to effectively improve pork quality in Korea. PMID:26761803

  5. Semen quality of Italian local pig breeds

    Directory of Open Access Journals (Sweden)

    G. Gandini

    2010-01-01

    Full Text Available From 1996 to 1999 a conservation programme was carried out within the framework of EC contract “European gene banking project for the pig genetic resources” (Ollivier et al., 2001 in the Italian local pig breeds. The aims of the program included the primary characterization of the breeds, i.e. information on the organization in charge of the breed, breeding population numbers, breed description and qualifications, and field trials on productive and reproductive performances. In this context the “Semen Bank of Italian local pig breeds” was built. A total of 30,835 straws of four Italian local pig breeds (Cinta Senese, Casertana, Mora Romagnola and Nero Siciliano, collected from 42 sires, have been stored. In this work semen quality traits, lipid composition and freezability of the four Italian local pig breeds are reported.

  6. Risk management of stock index futures

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    The Hong Kong Hang Seng index futures is taken as a study object and a method of empirical analysis is adopted in order to verify the validity of the application of the value-at-risk (VaR) method in the risk measurement of the stock index futures market. The results suggest that under normal market conditions it is feasible to apply the VaR method in the measurement of the market risks of stock index futures. The daily VaR value of the stock index futures provides a foreseeable profit and loss of the stock ...

  7. Is the Chinese Stock Market Really Efficient?

    Institute of Scientific and Technical Information of China (English)

    Weiwei Zhang

    2014-01-01

    The purpose of this research is to examine whether Chinese Stock Market is weak- form efficient. The sample involves daily index price of Shanghai and Shenzhen Stock Exchange for both A share and B share over an extensive period of 1993-2013. In order to seek out whether the result of market efficiency is sensitive to sub-period, this paper computes the different time period of sample. This essay will use three empirical methods, namely unit root test, auto correlation test and run test, to examine whether Chinese Stock Marketis weak-form efficient. The results, regarding efficiency, indicate that Chinese Stock Market is not weak-form efficient.

  8. A Framework for Rolling Stock Rescheduling

    DEFF Research Database (Denmark)

    Haahr, Jørgen Thorlund; Lusby, Richard Martin

    Rolling Stock schedules are typically made months or weeks prior to the date of execution. It is, however, rare that everything goes exactly as planned due to internal and external factors on the day of operation. If the magnitude of the disturbances is small then the problems may be absorbed...... by network buffer times. However, if the problems are more severe, changes must be made to the rolling stock schedule. In this talk we will discuss the Rolling Stock Rescheduling problem and Disruption Management. We will present our current work and planned future work on a framework for solving the Rolling...... Stock in a disruption context....

  9. Material Stock Demographics: Cars in Great Britain.

    Science.gov (United States)

    Cabrera Serrenho, André; Allwood, Julian M

    2016-03-15

    Recent literature on material flow analysis has been focused on quantitative characterization of past material flows. Fewer analyses exist on past and prospective quantification of stocks of materials in-use. Some of these analyses explore the composition of products' stocks, but a focus on the characterization of material stocks and its relation with service delivery is often neglected. We propose the use of the methods of human demography to characterize material stocks, defined herein as stock demographics, exploring the insights that this approach could provide for the sustainable management of materials. We exemplify an application of stock demographics by characterizing the composition and service delivery of iron, steel, and aluminum stocks of cars in Great Britain, 2002-2012. The results show that in this period the stock has become heavier, it is traveling less, and it is idle for more time. The visualization of material stocks' dynamics demonstrates the pace of product replacement as a function of its usefulness and enables the formulation of policy interventions and the exploration of future trends.

  10. Elements of stock market analysis

    Directory of Open Access Journals (Sweden)

    Suciu, T.

    2013-12-01

    Full Text Available The paper represents a starting point in the presentation of the two types of stock/market analysis: the fundamental analysis and the technical analysis. The fundamental analysis consist in the assessment of the financial and economic status of the company together with the context and macroeconomic environment where it activates. The technical analysis deals with the demand and supply of securities and the evolution of their trend on the market, using a range of graphics and charts to illustrate the market tendencies for the quick identification of the best moments to buy or sell.

  11. Inflation Accounting and Stock Returns: Evidence From Istanbul Stock Exchange (ISE)

    OpenAIRE

    Berna Kirkulak; Çagnur Kaytmaz Balsari

    2011-01-01

    The purpose of this study is to show the importance of inflation accounting application in investment decision making in particular in stock markets. The effect of inflation accounting on stock returns is examined among the Turkish firms listed on the Istanbul Stock Exchange (ISE) in 2003. Descriptive statistics compared the predictability level of inflation-adjusted and inflation non-adjusted fundamental accounting signals on stock returns. Regression analysis tests the explanatory power of ...

  12. The Quantitative Relations between Stock Prices and Quantities of Tradable Stock Shares and Its Applications

    CERN Document Server

    Gou, C

    2005-01-01

    This paper analyzes the quantitative relations between stock prices and quantities of tradable stock shares in Chinese stock markets at six time points by means of Exploratory Data Analysis (EDA) method. It is found the resulting formulae have the same structure but different parameters. This paper also uses these relationships in order to analyse the feasibility of policies for Chinese Government to sell the state-owned shares in Chinese stock markets.

  13. Volatility Estimation and Stock Price Prediction in the Nigerian Stock Market

    OpenAIRE

    Mayowa Gabriel, AJAO; Mary Ugochukwu, WEMAMBU

    2012-01-01

    This study aimed at understanding the Nigerian Stock Market with regards to volatility and prediction, to this effect the month end stock prices of four major companies from the period January 2005 to December, 2009 was used as proxy. The study made use of the Autoregressive Conditional heteroskedasticity (ARCH) to estimate and find out the presence of volatility. The study found the presence of volatility in all the four stock prices used, while stock price volatility was then regressed agai...

  14. The cross-section of stock returns in an early stock market

    OpenAIRE

    Ye, Qing; Turner, John D.

    2014-01-01

    Using a new dataset which contains monthly data on 1,015 stocks traded on the London Stock Exchange between 1825 and 1870, we investigate the cross section of stock returns in this early capital market. Unique features of this market allow us to evaluate the veracity of several popular explanations of asset pricing behavior. Using portfolio analysis and Fama-MacBeth regressions, we find that stock characteristics such as beta, illiquidity, dividend yield, and past-year return performance are ...

  15. Published stock recommendations as institutional investor sentiment in the near-term stock market

    OpenAIRE

    Singer, Nico; Dreher, Frank; Laser, Saskia

    2012-01-01

    This paper investigates the role of published stock recommendations in print and online media as investor sentiment in the near-term German stock market. In line with extant literature on other sentiment measures, vector autoregressions reveal that past stock returns drive today's sentiment, but not the other way around, and that sentiment is a powerful predictor of itself. In particular, sentiment based on printed analyst recommendations follows reversals, that is, when analysts face a stock...

  16. Genetic diversity of eleven European pig breeds

    Directory of Open Access Journals (Sweden)

    Foulley Jean-Louis

    2000-03-01

    Full Text Available Abstract A set of eleven pig breeds originating from six European countries, and including a small sample of wild pigs, was chosen for this study of genetic diversity. Diversity was evaluated on the basis of 18 microsatellite markers typed over a total of 483 DNA samples collected. Average breed heterozygosity varied from 0.35 to 0.60. Genotypic frequencies generally agreed with Hardy-Weinberg expectations, apart from the German Landrace and Schwäbisch-Hällisches breeds, which showed significantly reduced heterozygosity. Breed differentiation was significant as shown by the high among-breed fixation index (overall FST = 0.27, and confirmed by the clustering based on the genetic distances between individuals, which grouped essentially all individuals in 11 clusters corresponding to the 11 breeds. The genetic distances between breeds were first used to construct phylogenetic trees. The trees indicated that a genetic drift model might explain the divergence of the two German breeds, but no reliable phylogeny could be inferred among the remaining breeds. The same distances were also used to measure the global diversity of the set of breeds considered, and to evaluate the marginal loss of diversity attached to each breed. In that respect, the French Basque breed appeared to be the most "unique" in the set considered. This study, which remains to be extended to a larger set of European breeds, indicates that using genetic distances between breeds of farm animals in a classical taxonomic approach may not give clear resolution, but points to their usefulness in a prospective evaluation of diversity.

  17. 41 CFR 109-27.5003 - Stock control.

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Stock control. 109-27... control. (a) Stock control shall be maintained on the basis of stock record accounts of inventories on... property under stock control for greater than 90 days shall be maintained in stock record accounts....

  18. 26 CFR 1.422-2 - Incentive stock options defined.

    Science.gov (United States)

    2010-04-01

    ... of outstanding shares, such as a stock dividend or stock split), or change in the designation of the... 26 Internal Revenue 5 2010-04-01 2010-04-01 false Incentive stock options defined. 1.422-2 Section... (CONTINUED) INCOME TAXES Certain Stock Options § 1.422-2 Incentive stock options defined. (a) Incentive...

  19. 76 FR 7236 - Self-Regulatory Organizations; Stock Clearing Corporation of Philadelphia; Boston Stock Exchange...

    Science.gov (United States)

    2011-02-09

    ... Release No. 59858 (May 4, 2009), 74 FR 22191 (May 12, 2009) (SR-NASDAQ-2009-039). Prior to the closing of... COMMISSION Self-Regulatory Organizations; Stock Clearing Corporation of Philadelphia; Boston Stock Exchange... is hereby given that on January 19, 2011, Stock Clearing Corporation of Philadelphia, Inc....

  20. 78 FR 17066 - Indirect Stock Transfers and Coordination Rule Exceptions; Transfers of Stock or Securities in...

    Science.gov (United States)

    2013-03-19

    ... Revenue Service 26 CFR Part 1 RIN 1545-BJ74 Indirect Stock Transfers and Coordination Rule Exceptions; Transfers of Stock or Securities in Outbound Asset Reorganizations AGENCY: Internal Revenue Service (IRS... between asset transfers and indirect stock transfers for certain outbound asset reorganizations....

  1. The Stock Market Game: A Simulation of Stock Market Trading. Grades 5-8.

    Science.gov (United States)

    Draze, Dianne

    This guide to a unit on a simulation game about the stock market contains an instructional text and two separate simulations. Through directed lessons and reproducible worksheets, the unit teaches students about business ownership, stock exchanges, benchmarks, commissions, why prices change, the logistics of buying and selling stocks, and how to…

  2. The role of managerial stock option programs in governance: evidence from REIT stock repurchases

    NARCIS (Netherlands)

    C. Ghosh; E. Giambona; J.P. Harding; O. Sezer; C.F. Sirmans

    2010-01-01

    This article examines the role of stock option programs and executive holdings of stock options in real estate investment trust (REIT) governance. We study the issue by analyzing how the market reaction to a stock repurchase announcement varies as a function of the individual REIT's governance struc

  3. Breeding without breeding: is a complete pedigree necessary for efficient breeding?

    Directory of Open Access Journals (Sweden)

    Yousry A El-Kassaby

    Full Text Available Complete pedigree information is a prerequisite for modern breeding and the ranking of parents and offspring for selection and deployment decisions. DNA fingerprinting and pedigree reconstruction can substitute for artificial matings, by allowing parentage delineation of naturally produced offspring. Here, we report on the efficacy of a breeding concept called "Breeding without Breeding" (BwB that circumvents artificial matings, focusing instead on a subset of randomly sampled, maternally known but paternally unknown offspring to delineate their paternal parentage. We then generate the information needed to rank those offspring and their paternal parents, using a combination of complete (full-sib: FS and incomplete (half-sib: HS analyses of the constructed pedigrees. Using a random sample of wind-pollinated offspring from 15 females (seed donors, growing in a 41-parent western larch population, BwB is evaluated and compared to two commonly used testing methods that rely on either incomplete (maternal half-sib, open-pollinated: OP or complete (FS pedigree designs. BwB produced results superior to those from the incomplete design and virtually identical to those from the complete pedigree methods. The combined use of complete and incomplete pedigree information permitted evaluating all parents, both maternal and paternal, as well as all offspring, a result that could not have been accomplished with either the OP or FS methods alone. We also discuss the optimum experimental setting, in terms of the proportion of fingerprinted offspring, the size of the assembled maternal and paternal half-sib families, the role of external gene flow, and selfing, as well as the number of parents that could be realistically tested with BwB.

  4. Genetic variation of natural and cultured stocks of Paralichthys olivaceus by allozyme and RAPD

    Institute of Scientific and Technical Information of China (English)

    YOU Feng; ZHANG Peijun; WANG Keling; XIANG Jianhai

    2007-01-01

    Population genetics of the left-eyed flounder, Paralichthys olivaceus, including natural and cultured stocks distributed in the coastal waters near Qingdao of eastern maritime China, was analyzed in allozyme and RAPD. The results showed that among total 29 gene loci of 15 isozymes, 9 and 7 were polymorphic in natural and cultured stocks, respectively. The status of genetic diversity in P olivaceus is low in terms of polymorphic loci in chi-square test and genetic departure index of Hardy-Weinberg equilibrium. More alleles in IDHP, CAT, GDH and Ldh-C allozymes were found in the fish, which could be used as markers in assortive breeding and distinguishing stock, population or species evolution. Total 88 and 86 RAPD bands ranging from 200 to 2 500 bp were recognized individually in average of 7.8-8.0 bands per primer. The genetic diversity in cultured stock is lower than that in natural ones showing an obviously decreasing genetic divergence. Therefore, effective countermeasures must be taken to protect genetic resources of marine cultured fishes. The 2 markers have their own pros and cons. Combining the 2 markers to investigate the genetic variation of populations is suggested. The results provide basic data of this flounder and they are useful for studying genetic improvement and genetic resources of the fish.

  5. Accuracies of genomically estimated breeding values from pure-breed and across-breed predictions in Australian beef cattle

    OpenAIRE

    Boerner, Vinzent; Johnston, David J.; Tier, Bruce

    2014-01-01

    International audience; AbstractBackgroundThe major obstacles for the implementation of genomic selection in Australian beef cattle are the variety of breeds and in general, small numbers of genotyped and phenotyped individuals per breed. The Australian Beef Cooperative Research Center (Beef CRC) investigated these issues by deriving genomic prediction equations (PE) from a training set of animals that covers a range of breeds and crosses including Angus, Murray Grey, Shorthorn, Hereford, Bra...

  6. Crossing Stocks and the Positive Grassmannian I: The Geometry behind Stock Market

    OpenAIRE

    Ovidiu Racorean

    2014-01-01

    It seems to be very unlikely that all relevant information in the stock market could be fully encoded in a geometrical shape. Still,the present paper will reveal the geometry behind the stock market transactions. The prices of market index (DJIA) stock components are arranged in ascending order from the smallest one in the left to the highest in the right. In such arrangement, as stock prices changes due to daily market quotations, it could be noticed that the price of a certain stock get ove...

  7. Empirical Study of the Risks in Shenzhen Stock Market

    Institute of Scientific and Technical Information of China (English)

    ZUO Xiao-de; GAO Wei-cun

    2001-01-01

    This paper conducts an empirical research on the system risks of the Shenzhen Stock Market using Capital Asset Pricing Model. The typical composition stocks on Shenzhen Stock Market in 1998 are taken as samples.

  8. Legal institutions, strategic default, and stock returns

    NARCIS (Netherlands)

    G. Favara; E. Schroth; P. Valta

    2008-01-01

    This paper studies the impact of legal institutions on stock returns. More specifically, we examine how differences in debt enforcement and creditor protection around the world affect stock returns of individual firms. We hypothesize that if legal institutions prevent shareholders from engaging in s

  9. Combining Stocks and Flows of Knowledge

    DEFF Research Database (Denmark)

    Ambos, Tina C.; Nell, Phillip Christopher; Pedersen, Torben

    2013-01-01

    While previous research has mostly focused on either knowledge stocks or knowledge flows, our study is among the first to integrate these perspectives in order to shed light on the complementarity effects of different types of knowledge stocks and flows in the multinational corporation (MNC...

  10. SETS, Arbitrage Activity, and Stock Price Dynamics

    NARCIS (Netherlands)

    N. Taylor; D.J.C. van Dijk (Dick); Ph.H.B.F. Franses (Philip Hans); A. Lucas (André)

    1999-01-01

    textabstractThis paper provides an empirical description of the relationship between the trading system operated by a stock exchange and the transaction costs faced by heterogeneous investors who use the exchange. The recent introduction of SETS in the London Stock Exchange provides an excellent opp

  11. ON THE INCREMENTS DISTRIBUTION OF STOCK PRICES

    Institute of Scientific and Technical Information of China (English)

    2001-01-01

    In this paper,the models of increment distributions of stock price are constructed with two approaches. The first approach is based on limit theorems of random summation. The second approach is based on the statistical analysis of the increment distribution of the logarithms of stock prices.

  12. Jump Detection in the Danish Stock Market

    DEFF Research Database (Denmark)

    Høg, Esben

    2002-01-01

    It is well known in financial economics that stock market return data are often modelled by a diffusion process with some regular drift function. Occasionally, however, sudden changes or jumps occur in the return data. Wavelet scaling methods are used to detect jumps and cusps in stock market...

  13. Oil Volatility Risk and Expected Stock Returns

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Pan, Xuhui (Nick)

    After the financialization of commodity futures markets in 2004-05 oil volatility has become a strong predictor of returns and volatility of the overall stock market. Furthermore, stocks' exposure to oil volatility risk now drives the cross-section of expected returns. The difference in average...... of funding liquidity constraints suggesting an economic channel for the effect....

  14. Does Stock Market Performance Influence Retirement Intentions?

    Science.gov (United States)

    Goda, Gopi Shah; Shoven, John B.; Slavov, Sita Nataraj

    2012-01-01

    Media reports predicted that the stock market decline in October 2008 would cause changes in retirement intentions, due to declines in retirement assets. We use panel data from the Health and Retirement Study to investigate the relationship between stock market performance and retirement intentions during 1998-2008, a period that includes the…

  15. Foreign Delisting and Domestic Stock Value

    DEFF Research Database (Denmark)

    Uderche-Rangau, Loredana; Carugati, Andrea

    2008-01-01

    The aim of our paper is to understand the foreign delisting phenomenon using a multi-method approach based on both information content analysis and event study analysis of foreign companies withdrawing their stocks from the Tokyo Stock Exchange. Our objective is to measure the impact...

  16. Competition between stock exchanges and optimal trading

    NARCIS (Netherlands)

    van Kervel, V.L.

    2013-01-01

    This doctoral thesis focuses on two topics on trading in financial markets: competition between stock exchanges and optimal trading strategies. Chapter one analyzes the effect on the liquidity of a stock when it is traded on multiple trading venues, and distinguishes between competition from transpa

  17. Young stock rearing using automatically recorded data

    NARCIS (Netherlands)

    Ipema, A.H.; Mol, de R.M.; Hogewerf, P.H.

    2014-01-01

    The subject ‘young stock rearing’ is important for future dairy farming. So far there has been too little attention for young stock rearing. Proper care by monitoring health and growth of the young animals will lengthen life expectancy and increase milk production of the adult dairy cow. Due to the

  18. Recent market behavior of utility stocks

    International Nuclear Information System (INIS)

    This article reviews the recent market behavior of utility stocks as compared to the Standard and Poor's 500 and the long-term government bond yield. Utility stock's performance continues to be affected by unfavorable regulation,and it appears that it will continue to be a factor for some time to come. A continually shrinking excess capacity continues to be a concern

  19. Distinguishing manipulated stocks via trading network analysis

    Science.gov (United States)

    Sun, Xiao-Qian; Cheng, Xue-Qi; Shen, Hua-Wei; Wang, Zhao-Yang

    2011-10-01

    Manipulation is an important issue for both developed and emerging stock markets. For the study of manipulation, it is critical to analyze investor behavior in the stock market. In this paper, an analysis of the full transaction records of over a hundred stocks in a one-year period is conducted. For each stock, a trading network is constructed to characterize the relations among its investors. In trading networks, nodes represent investors and a directed link connects a stock seller to a buyer with the total trade size as the weight of the link, and the node strength is the sum of all edge weights of a node. For all these trading networks, we find that the node degree and node strength both have tails following a power-law distribution. Compared with non-manipulated stocks, manipulated stocks have a high lower bound of the power-law tail, a high average degree of the trading network and a low correlation between the price return and the seller-buyer ratio. These findings may help us to detect manipulated stocks.

  20. Stock market stability: Diffusion entropy analysis

    Science.gov (United States)

    Li, Shouwei; Zhuang, Yangyang; He, Jianmin

    2016-05-01

    In this article, we propose a method to analyze the stock market stability based on diffusion entropy, and conduct an empirical analysis of Dow Jones Industrial Average. Empirical results show that this method can reflect the volatility and extreme cases of the stock market.

  1. A Tale of Two Stock Markets

    Science.gov (United States)

    Armstrong, Michelle Hine; Piercey, Victor I.; Greene-Hunley, Stephanie

    2015-01-01

    This article describes two different projects using the stock market as a context for learning. For both projects, students "bought" shares in individual companies, tracked stock prices for a period of time, and then "sold" their shares at a gain or loss. The projects are adaptable for students in late elementary school through…

  2. Stock market volatility and macroeconomic uncertainty

    NARCIS (Netherlands)

    Arnold, I.J.M.; Vrugt, E.B.

    2006-01-01

    This paper provides empirical evidence on the link between stock market volatility and macroeconomic uncertainty. We show that US stock market volatility is significantly related to the dispersion in economic forecasts from SPF survey participants over the period from 1969 to 1996. This link is much

  3. Fundamental uncertainty and stock market volatility

    NARCIS (Netherlands)

    Arnold, I.J.M.; Vrugt, E.B.

    2008-01-01

    We provide empirical evidence on the link between stock market volatility and macroeconomic uncertainty. We show that US stock market volatility is significantly related to the dispersion in economic forecasts from participants in the Survey of Professional Forecasters over the period 1969 to 1996.

  4. An Outlook on Correlations in Stock Prices

    OpenAIRE

    Anirban Chakraborti

    2006-01-01

    Comment: 6 pages, RevTeX format. To appear in the Conference Proceedings of ECONOPHYS-KOLKATA II: International Workshop on Econophysics of Stock Markets and Minority Games", February 14-17, 2006, SINP, Kolkata, as a book chapter in Eds. A. Chatterjee and B.K. Chakrabarti, Econophysics of Stock and other Markets, (Springer-Verlag (Italia), Milan, 2006)

  5. Causalities of the Taiwan Stock Market

    OpenAIRE

    Juhi-Lian Julian Ting

    2003-01-01

    Volatility, fitting with first order Landau expansion, stationarity, and causality of the Taiwan stock market (TAIEX) are investigated based on daily records. Instead of consensuses that consider stock market index change as a random time series we propose the market change as a dual time series consists of the index and the corresponding volume. Therefore, causalities between these two time series are investigated.

  6. Looking Forward to the Stock Market.

    Science.gov (United States)

    Dickneider, William

    1992-01-01

    Discusses the advantages of using the stock market to add new dimensions to social studies classes. Suggests that changes in society will make knowledge of financial markets essential for students. Includes two lesson plans with handouts that use the Disney company and changes in the operation of the stock market to capture student interest. (DK)

  7. Breeding schemes in reindeer husbandry

    Directory of Open Access Journals (Sweden)

    Lars Rönnegård

    2003-04-01

    Full Text Available The objective of the paper was to investigate annual genetic gain from selection (G, and the influence of selection on the inbreeding effective population size (Ne, for different possible breeding schemes within a reindeer herding district. The breeding schemes were analysed for different proportions of the population within a herding district included in the selection programme. Two different breeding schemes were analysed: an open nucleus scheme where males mix and mate between owner flocks, and a closed nucleus scheme where the males in non-selected owner flocks are culled to maximise G in the whole population. The theory of expected long-term genetic contributions was used and maternal effects were included in the analyses. Realistic parameter values were used for the population, modelled with 5000 reindeer in the population and a sex ratio of 14 adult females per male. The standard deviation of calf weights was 4.1 kg. Four different situations were explored and the results showed: 1. When the population was randomly culled, Ne equalled 2400. 2. When the whole population was selected on calf weights, Ne equalled 1700 and the total annual genetic gain (direct + maternal in calf weight was 0.42 kg. 3. For the open nucleus scheme, G increased monotonically from 0 to 0.42 kg as the proportion of the population included in the selection programme increased from 0 to 1.0, and Ne decreased correspondingly from 2400 to 1700. 4. In the closed nucleus scheme the lowest value of Ne was 1300. For a given proportion of the population included in the selection programme, the difference in G between a closed nucleus scheme and an open one was up to 0.13 kg. We conclude that for mass selection based on calf weights in herding districts with 2000 animals or more, there are no risks of inbreeding effects caused by selection.

  8. Seasonal Anomalies in Istanbul Stock Exchange

    Directory of Open Access Journals (Sweden)

    Zehra Abdioglu

    Full Text Available According to efficient market hypothesis, investors perceive all available information in the same manner and it is not possible that any investor obtain more profit than others. Various anomalies in stock markets cause the failure of the efficient market hypothesis. Anomalies mean that the returns of the stock market are different on each the time period. The existence of anomalies in stock markets is important for investors. In this study, it is examined to whether there are seasonal anomalies in Istanbul Stock Exchange. For this purpose, it is tested intra-day effect, day of the week effect, the January effect, intra-month effect, turn of the month effect, turn of the year effect and the holiday effect for the period of 2003-2012, using least squares method. According to results, there is an evidence for intra-day effect and day of the week effect in Istanbul Stock Exchange for this period.

  9. Determinants of Stock Prices in Ghana

    Directory of Open Access Journals (Sweden)

    Sampson Wiredu

    2013-12-01

    Full Text Available In this study the determinants of Stock prices were modelled using a regression model with ARIMA errors. The results showed that a regression model with AR (1 errors was best for modelling the Stock prices. A diagnostic test of the model with the ARCH-LM test showed that the model was free from conditional heteroscedasticity. Also, the Breusch-Godfrey test and the Ljung-Box test showed that the model was free from serial correlation. In addition, the CUSUM test showed that the model parameters were stable. Finally, the results showed that the Gold price and the 91 day Treasury bill do not contribute significantly to the variation in the Stock prices. The Cocoa price and the Consumer Price Index were positively related to the Stock price while the Broad Money supply was negatively related to the Stock price.

  10. Recurrence quantification analysis of global stock markets

    Science.gov (United States)

    Bastos, João A.; Caiado, Jorge

    2011-04-01

    This study investigates the presence of deterministic dependencies in international stock markets using recurrence plots and recurrence quantification analysis (RQA). The results are based on a large set of free float-adjusted market capitalization stock indices, covering a period of 15 years. The statistical tests suggest that the dynamics of stock prices in emerging markets is characterized by higher values of RQA measures when compared to their developed counterparts. The behavior of stock markets during critical financial events, such as the burst of the technology bubble, the Asian currency crisis, and the recent subprime mortgage crisis, is analyzed by performing RQA in sliding windows. It is shown that during these events stock markets exhibit a distinctive behavior that is characterized by temporary decreases in the fraction of recurrence points contained in diagonal and vertical structures.

  11. Relatively stable carbon stocks in China's grasslands

    Institute of Scientific and Technical Information of China (English)

    FANG ChangMing

    2011-01-01

    Global climate change has been predicted to profoundly influence carbon (C) processes and C stock dynamics in terrestrial ecosystems [1].Three papers recently published in Science China Life Science [2-4] studied various aspects of C stock dynamics at different scales in the northern grasslands of China (including the Tibetan alpine meadow).They reported that there has been no significant trend of variation in ecosystem C stocks in Tibetan meadow and temperate grassland since the late 1980s,or significant correlation between variations in C stocks and warming or precipitation.The response of ecosystem C processes and C stocks to global climate change featuring a significant temperature rise was insignificant.

  12. Modeling Chaotic Behavior of Chittagong Stock Indices

    Directory of Open Access Journals (Sweden)

    Shipra Banik

    2012-01-01

    Full Text Available Stock market prediction is an important area of financial forecasting, which attracts great interest to stock buyers and sellers, stock investors, policy makers, applied researchers, and many others who are involved in the capital market. In this paper, a comparative study has been conducted to predict stock index values using soft computing models and time series model. Paying attention to the applied econometric noises because our considered series are time series, we predict Chittagong stock indices for the period from January 1, 2005 to May 5, 2011. We have used well-known models such as, the genetic algorithm (GA model and the adaptive network fuzzy integrated system (ANFIS model as soft computing forecasting models. Very widely used forecasting models in applied time series econometrics, namely, the generalized autoregressive conditional heteroscedastic (GARCH model is considered as time series model. Our findings have revealed that the use of soft computing models is more successful than the considered time series model.

  13. Stock Indices as Generalizing Indicators of the Stock Markets Condition in the European Union Countries

    Directory of Open Access Journals (Sweden)

    Shuba M. V.

    2015-03-01

    Full Text Available The aim of the article is to determine the degree of interdependence of stock markets in separate countries of the European Union, namely: France, Germany, Great Britain, Poland, the Czech Republic and Hungary on the basis of studying the changes in stock indexes, as well as determining the existence of tendencies of approximating the dynamics of the national stock index «PFTS Index» to the corresponding dynamics of stock indexes in surveyed countries. The article analyzes the dynamics of changes in stock indices in the UK (FTSE, Germany (DAX 30, France (CAC 40 and pan-European ones (EURO STOXX 50, as well as changes in stock indices in Poland (WIG 20, Czech Republic (PX, Hungary (BUX. Calculations of the coefficients of pair correlation between changes in stock indices in the studied countries have been performed. The calculation results show a substantial connection between the indicators of changes in stock indices and allow to make a conclusion that in the dynamics of stock indices of national stock markets of the studied EU countries some common trends are observed, moreover, in the behavior of the considered indices common local trends are noticed as well. The author calculated the coefficient of pair correlation between the indicators of changes in the national stock index «PFTS Index» and the stock indices of the «old» and «new» EU countries. The calculations showed that the PFTS Index does not demonstrate a high level of correlation with stock indices of the «old» EU countries and has a tendency of approaching the corresponding dynamics of stock indices of the «new» EU countries.

  14. Is breeding of farmland wading birds depressed by a combination of predator abundance and grazing?

    Science.gov (United States)

    van der Wal, R; Palmer, S C F

    2008-06-23

    Agri-environment schemes have been implemented across Europe to counter biodiversity loss in agricultural landscapes and halt the continual decline of farmland birds, including waders. Such schemes provide financial compensation for changes in agricultural practice, including livestock grazing regimes. Scheme uptake has been variable, partly because farmers believe that other factors, notably predation, are key to wader population declines. On the basis of wader breeding surveys across Shetland, UK, we show that predator density and livestock grazing, through reducing sward height, interact to influence territoriality and thereby are likely to affect wader breeding success. Our results appear to reflect views of both farmers and government agencies, which indicates that future agri-environment schemes would benefit from genuine stakeholder participation to maximize scheme uptake, implementation and beneficial effects on biodiversity. Our findings also imply that agri-environment schemes will reap the greatest benefits for waders through reducing stocking rate where avian predators are abundant. PMID:18381262

  15. Development Of Space Breeding In China

    Institute of Scientific and Technical Information of China (English)

    Liu Luxiang

    2009-01-01

    @@ Space breeding provides a new technical platform for Chinese agricaltural scientists to explore the mechanism of crop mutation induced during spaceflight and breeds new varieties of crops. It is important for China to develop the space breeding industry,maintain China's lead position in this field,serve agricultural production better,promote China's sustainable and healthy agricultural development,and ensure national food safety.

  16. Organic Beef Production - Sire Breed Comparison

    OpenAIRE

    Fallon, Richard; Leavy, Elaine

    2008-01-01

    The results to date, from this sire breed comparison study indicate that with the contrasting Aberdeen Angus and Charolais sire breeds that is possible to achieve animal performance data comparable to well managed conventional suckler calf to beef systems (300 kg carcass for heifers in Nov and 400 kg carcass for steers in March). Similarly the responses to sire breed type, sex and date of slaughter for the organic beef animals are biologically compatible. Organic beef is produced under organi...

  17. Possibilities for Breeding in Organic Dairy Farming

    OpenAIRE

    Nauta, Wytze

    2010-01-01

    In the organic sector there is an ongoing debate about the development of organic breeding methods. The debate revolves around two issues: 1) how the principle of naturalness in organic agriculture (that is, using natural processes wherever possible) can be reconciled with the increasing use of modern reproduction techniques in conventional breeding; and 2) whether animals produced by conventional breeding programs are actually suitable for organic agriculture or whether the organic sector it...

  18. Use of induced mutations in soybean breeding

    International Nuclear Information System (INIS)

    Artificial induction of mutation in plants is carried out using #betta#-irradiation and ethyl metanesulphonate (EMS) to expand the genetic variability of locally-grown soybean. This aspect of mutation breeding complements of conventional breeding approach undertaken by the Joint Malaysia Soybean Breeding Project group. Recovery of agronomically-important mutants such as earliness, lateness, bigger seed size and improved plant architecture were recorded. The significance of these findings is discussed. (author)

  19. [Mendelism in animal breeding as developed by professor Leopold Frateur, Louvain (1877-1946)].

    Science.gov (United States)

    Gobin, A

    2000-01-01

    Educated as a veterinarian at Cureghem, Leopold Frateur started his scientific career in 1899 as a professor at the Faculty of Sciences of the Catholic University of Louvain, Belgium, in charge of the course in zootechnology. After a study tour to zootechnical institutes and centres of animal breeding in Europe he was invited by the governmental department of Agriculture and the Belgian Society of Zootechnology to investigate the relevance of the Mendelian laws of heredity for the improvement of cattle breeding. In the early years of the century, Frateur conducted field research in order to determine the characteristics of the cattle breeds in Belgium. In 1908 Frateur founded the Institute of Animal Husbandry at his university. Here he worked out his programme of experimental genetics until his retirement in 1936. The last six years of his professorship he teached also agricultural economics in the Faculty of Economical Sciences. In Frateur's experimental research the following main lines can be distinguished: 1) The analysis of simple and complex hereditary factors in cattle, rabbits and poultry; 2) The study of qualitative and quantitative characteristics of importance for the improvement of animal breeds; 3) The synthesis of genetic factors from different stock in order to obtain higher yielding breeds with stable characteristics; 4) Theoretical study of the relationship between genotype and phenotype and the influence of environment factors; 5) Theoretical exploration of the issue of variability and modification of newly formed characteristics; 6) Research leading to an explanation of telegony and atavism; 7) The formulation of a theory on the creation of new breeds in domestic animals and plants, and the relation between breed and species. Also he was responding to topical needs, e.g. he determined the causal factor of pullorum epidemic in chicken farming, or he investigated the hereditary resistance against diphteric infection amongst chickens. Frateur took

  20. Prospects for Hybrid Breeding in Bioenergy Grasses

    DEFF Research Database (Denmark)

    Aguirre, Andrea Arias; Studer, Bruno; Frei, Ursula;

    2012-01-01

    of different hybrid breeding schemes to optimally exploit heterosis for biomass yield in perennial ryegrass (Lolium perenne L.) and switchgrass (Panicum virgatum), two perennial model grass species for bioenergy production. Starting with a careful evaluation of current population and synthetic breeding methods......, we address crucial topics to implement hybrid breeding, such as the availability and development of heterotic groups, as well as biological mechanisms for hybridization control such as self-incompatibility (SI) and male sterility (MS). Finally, we present potential hybrid breeding schemes based on SI...

  1. Genomics-assisted breeding in fruit trees.

    Science.gov (United States)

    Iwata, Hiroyoshi; Minamikawa, Mai F; Kajiya-Kanegae, Hiromi; Ishimori, Motoyuki; Hayashi, Takeshi

    2016-01-01

    Recent advancements in genomic analysis technologies have opened up new avenues to promote the efficiency of plant breeding. Novel genomics-based approaches for plant breeding and genetics research, such as genome-wide association studies (GWAS) and genomic selection (GS), are useful, especially in fruit tree breeding. The breeding of fruit trees is hindered by their long generation time, large plant size, long juvenile phase, and the necessity to wait for the physiological maturity of the plant to assess the marketable product (fruit). In this article, we describe the potential of genomics-assisted breeding, which uses these novel genomics-based approaches, to break through these barriers in conventional fruit tree breeding. We first introduce the molecular marker systems and whole-genome sequence data that are available for fruit tree breeding. Next we introduce the statistical methods for biparental linkage and quantitative trait locus (QTL) mapping as well as GWAS and GS. We then review QTL mapping, GWAS, and GS studies conducted on fruit trees. We also review novel technologies for rapid generation advancement. Finally, we note the future prospects of genomics-assisted fruit tree breeding and problems that need to be overcome in the breeding.

  2. Use of animal breeds and breeding to overcome the incidence of grass tetany: a review.

    Science.gov (United States)

    Greene, L W; Baker, J F; Hardt, P F

    1989-12-01

    British breeds of cattle are not so effective as Zebu in extracting nutrients from low-quality roughages, and these breeds differ in their nutrient metabolism and animal physiology. Breeds of cattle may differ in their requirements for Mg. Brahman cows are less susceptible to death from disease and metabolic disorders than are British breeds of cattle, whereas cows with 50% or greater dairy breeding (Holstein and Jersey) are more susceptible than British or Brahman breeds when maintained in beef production herds. Brahman or Brahman crossbred cows are less susceptible than other breeds to metabolic disorders such as grass tetany. Magnesium absorption has been shown to be greater in Brahman than in Jersey, Holstein and Hereford cows. These differences in the efficiency of Mg absorption between different breeds of cows may be due to genetic variation in the absorptive mechanisms of Mg, in feeding behavior, in gastrointestinal tract motility, in gastrointestinal tract fill or to some combination. PMID:2693421

  3. Breeding for adaptation to drought

    International Nuclear Information System (INIS)

    Full text: I will describe an approach we have used to breed improved cowpea varieties for an environment that experiences very severe droughts - the African Sahel. I will then speculate on how this approach might be enhanced for cowpea and some other C3 species by including selection for carbon stable isotope composition, i.e carbon isotope discrimination by plants (Δ). The approach in breeding for adaptation to drought involved selecting parents and then progeny with a type of grain desired by consumers and optimal time of flowering and cycle length, incorporating resistances to important diseases and pests, and yield-testing advanced lines in many locations throughout the target production zone in experiment station and farm conditions over several years. Can we now make further progress in breeding to improve adaptation to drought by including selection for Δ? The approach I recommend is to choose varieties or elite lines as parents that have differences in Δ but similar high grain quality and optimal time to flowering, cycle length and harvest index. In many cases, pre-breeding will be needed to develop appropriate elite lines and it may be difficult to develop lines that differ in Δ but also have the other necessary traits. Then crosses would be made and progeny would be selected that have the required grain quality, phenology, harvest index, and multiple resistances to pests and diseases. Selected stable lines would be screened for Δ values. Finally, selected advanced lines would be subjected to the necessary multilocation tests for yield, grain quality and other agronomic traits in the target production zone. But, should one select for Δ values that are lower or higher than those of the best current cultivars? Theory and experimental tests have shown that for C3 species, Δ is negatively correlated with intrinsic, integrated water-use efficiency. Water-use efficiency (W) is the ratio of crop biomass production to transpiration. A yield

  4. Volatility Transmission Between Dow Jones Stock Index And Emerging Islamic Stock Index: Case Of Subprime Financial Crises

    OpenAIRE

    Amir Saadaoui; Younes Boujelbene

    2015-01-01

    In the course of the recent global crisis, the stock shocks are distributed and transmitted from their homes in the developed stock market to emerging stock markets. By supporting the development of emerging stock markets, this study aims to see the transmission of volatility between the Dow Jones stock index and the Dow Jones emerging Islamic stock indiex. In this study we have divided the period into three, periods, before, during and after this crisis to demonstrate the resilience of the I...

  5. Across Breed QTL Detection and Genomic Prediction in French and Danish Dairy Cattle Breeds

    DEFF Research Database (Denmark)

    van den Berg, Irene; Guldbrandtsen, Bernt; Hozé, C;

    Our objective was to investigate the potential benefits of using sequence data to improve across breed genomic prediction, using data from five French and Danish dairy cattle breeds. First, QTL for protein yield were detected using high density genotypes. Part of the QTL detected within breed was...

  6. Comparison of stock valuation models with their intrinsic value in Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Ali Amiri

    2016-06-01

    Full Text Available Stock evaluation is one of the most important and most complex operational processes in the stock exchange. In financial markets, the pricing of tradable assets plays a basic role in resource allocation. After initial stock valuation of listed companies in Tehran Stock Exchange, some changes were observed in prices with the value set by the Stock Exchange. The aim of this study was to determine the model applied in the formation of stock prices in the stock market to find an appropriate market value model among value-based valuation models. To test the models of stock valuation, ordinary least square regression was used. Also, E-Views software was used for further data analysis. The sample included all the companies listed in Tehran Stock Exchange from 2008 till 2013. Based on the stratified random sampling, each industry was selected as a category and using Cochran formula, sample size of 40 participants was determined from each category. The data analysis indicated that the price-to-book ratio (P/B ratio had the highest adjustment factor and had been set as the best stock valuation model.

  7. Asymmetric conditional volatility in international stock markets

    Science.gov (United States)

    Ferreira, Nuno B.; Menezes, Rui; Mendes, Diana A.

    2007-08-01

    Recent studies show that a negative shock in stock prices will generate more volatility than a positive shock of similar magnitude. The aim of this paper is to appraise the hypothesis under which the conditional mean and the conditional variance of stock returns are asymmetric functions of past information. We compare the results for the Portuguese Stock Market Index PSI 20 with six other Stock Market Indices, namely the SP 500, FTSE 100, DAX 30, CAC 40, ASE 20, and IBEX 35. In order to assess asymmetric volatility we use autoregressive conditional heteroskedasticity specifications known as TARCH and EGARCH. We also test for asymmetry after controlling for the effect of macroeconomic factors on stock market returns using TAR and M-TAR specifications within a VAR framework. Our results show that the conditional variance is an asymmetric function of past innovations raising proportionately more during market declines, a phenomenon known as the leverage effect. However, when we control for the effect of changes in macroeconomic variables, we find no significant evidence of asymmetric behaviour of the stock market returns. There are some signs that the Portuguese Stock Market tends to show somewhat less market efficiency than other markets since the effect of the shocks appear to take a longer time to dissipate.

  8. Manufacturing Capital Lingers in the Stock Market

    Institute of Scientific and Technical Information of China (English)

    吴程涛; 段铸; 张景宇; 张曙光

    2008-01-01

    Pressured by a slowdown in exports, cost increases and dwindling returns to manufacturing investments, China’s manufacturing capital has begun to shift to the real-estate and stock markets. As a matter of fact, the stock market had already felt a shock a couple of years ago when top domestic manufacturers like Midea, Gree, TCL and LMZ started to invest their idle capital in the real-estate and stock markets. Investments of manufacturing capital in both the real estate and stock markets have increased fluid capital and pushed up the value of both markets. Booms in both markets have in turn guaranteed investment returns of manufacturing capital, which further increased the stock market valuations of manufacturing capital. Such a cycle has created interest chains between listed manufacturers, the stock market and the real-estate market. Along with the ups and downs of the stock and real-estate markets, manufacturing capital now faces a dilemma: to escape or to persist? Where should it escape? When can the markets be profitable again? Just like the classic Shakespearean question: to be or not to be, that is the question.

  9. Managerial Stock Compensation and Risky Investment

    Directory of Open Access Journals (Sweden)

    Raluca Georgiana Nastasescu

    2009-06-01

    Full Text Available This study analyzes the relationship between the mix of CEO equity-based compensation, namely stock options and restricted stock, and firms' risky investment. In general, the theory suggests that long-term compensation aligns CEOs' and shareholders' interests by inducing the managers to undertake risky investment, which has a positive impact on longterm well-being of the firm. However, as my results show, it is important to distinguish between types of awards since they can have different effects on the riskiness of the firm. In this respect, I answer the question how are different types of stock based compensation related to the executives' determination to increase or not the intensity of the firm's risky investment? I find that awarding the CEOs preponderantly with stock options positively affects the firm's level of R&D investment. Conversely, a higher proportion of restricted stock in the CEO's compensation is related to lower investment in (risky R&D. The inverse relation of causality also holds. Firms that make intensive R&D investments are more likely to award their CEOs with more stock options relative to restricted stock. Overall, the results are consistent with the theoretical prediction, in that the managerial compensation scheme plays an important role in determining the level of R&D investment.

  10. Power law models of stock indices

    Science.gov (United States)

    Tse, Man Kit

    Viewing the stock market as a self-organized system, Sornette and Johansen introduced physics-based models to study the dynamics of stock market crashes from the perspective of complex systems. This involved modeling stock market Indices using a mathematical power law exhibiting log-periodicity as the system approaches a market crash, which acts like a critical point in a thermodynamic system. In this dissertation, I aim to investigate stock indices to determine whether or not they exhibit log-periodic oscillations, according to the models proposed by Sornette, as they approach a crash. In addition to analyzing stock market crashes in the frequency domain using the discrete Fourier transform and the Lomb-Scargle periodogram, I perform a detailed analysis of the stock market crash models through parameter estimation and model testing. I find that the probability landscapes have a complex topography and that there is very little evidence that these phase transition-based models accurately describe stock market crashes.

  11. 78 FR 45494 - Plant Breeding Listening Session meeting

    Science.gov (United States)

    2013-07-29

    ...; ] DEPARTMENT OF AGRICULTURE Plant Breeding Listening Session meeting ACTION: Notice of a Plant Breeding... Agriculture (USDA) announces a Plant Breeding Listening Session stakeholder meeting for all interested plant breeding and cultivar development stakeholders. DATES: The Plant Breeding Listening Session will be...

  12. A STUDY ON TROUT BREEDING IN DUZCE PROVINCE

    OpenAIRE

    Akbulut, Süleyman; KETEN, Akif

    2009-01-01

    In this study, trout breeding facilities of Duzce Province, a suitable place for trout breeding, were evaluated. As a result of this evaluation, current status, capacities, and problems of trout breeding facilities were determined. Some suggestions were provided to solve these problems and increase the capacity of trout breeding facilities. Keywords: Duzce, Trout Breeding.

  13. Stock Repurchases, Stock Compensation, and Firm Financial Performance

    Directory of Open Access Journals (Sweden)

    Elzbieta Wronska-Bukalska

    2015-09-01

    Full Text Available In this paper I examine how share repurchase activities are associated with employee compensation plans and firm performance. I assume that repurchasing shares in order to pay managers/ employees with shares is an incentive and leads to higher effort and better firm financial performance. I perceive firm financial performance in terms of profitability and liquidity (not stock prices. The empirical research was carried out for the years 2004–2013 and for companies that repurchased their share and distributed them among employees/managers as an incentive. I analysed how the financial performance had changed two years after the share repurchase. The empirical evidence in this study suggests that share repurchase is carried out not only as a substitute for dividend payment. Quite often companies announce share repurchase in order to conduct employees/managers incentive program. However, I found that repurchasing shares in order to conduct employees/managers share incentive programs does not lead to firm financial performance improvement.

  14. Oil Volatility Risk and Expected Stock Returns

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Pan, Xuhui (Nick)

    After the financialization of commodity futures markets in 2004-05 oil volatility has become a strong predictor of returns and volatility of the overall stock market. Furthermore, stocks' exposure to oil volatility risk now drives the cross-section of expected returns. The difference in average...... return between the quintile of stocks with low exposure and high exposure to oil volatility is significant at 0.66% per month, and oil volatility risk carries a significant risk premium of -0.60% per month. In the post-financialization period, oil volatility risk is strongly related with various measures...

  15. Efficient stock piling of 40mm shells

    Directory of Open Access Journals (Sweden)

    J. N. Nanda

    1958-10-01

    Full Text Available A problem was posed as to discuss efficient stock-piling of 40mm shells. There is, in fact no data from which emergency requirements can be deduced. A figure has been quoted by Army authorities that E rounds per month are required during an emergency. The size of the emergency stock pile will depend upon the difference of the normal peace time production, and also on the time taken for the crash programme of emergency production to come into fulfillment. In addition the delivery time from factories to the stock piles is also kept in view.

  16. Structural Estimation of Stock Market Participation Costs

    DEFF Research Database (Denmark)

    Khorunzhina, Natalia

    2013-01-01

    This paper develops and estimates a dynamic model of stock market participation, where consumers' decisions regarding stock market participation are influenced by participation costs. The practical significance of the participation costs is considered as being a channel through which financial...... education programs can affect consumers' investment decisions. Using household data from the Panel Study of Income Dynamics, I estimate the magnitude of the participation cost, allowing for individual heterogeneity in it. The results show the average stock market participation cost is about 4–6% of labor...

  17. Stock Split Bubble and Livedoor-Shock

    OpenAIRE

    Youki Kohsaka

    2011-01-01

    This paper examines whether the stock split bubble in Japan burst by not only reformed system, but also Livedoor-shock. It is difficult to identify the effects of the both events, because they occurred in the same month (January, 2006). Thus, I identify both effects by dividing the samples into the following three; the split stocks in the old system and the split stocks in the new system, the news of which was announced before and after Livedoor-shock. Empirical results reveal that restrictio...

  18. Energy savings in Danish residential building stock

    DEFF Research Database (Denmark)

    Tommerup, Henrik M.; Svendsen, Svend

    2006-01-01

    A large potential for energy savings exists in the Danish residential building stock due to the fact that 75% of the buildings were constructed before 1979 when the first important demands for energy performance of building were introduced. It is also a fact that many buildings in Denmark face...... buildings representing the residential building stock and based on these calculations an assessment of the energy-saving potential is performed. A profitable savings potential of energy used for space heating of about 80% is identified over 45 years (until 2050) within the residential building stock...

  19. Fish stocking density impacts tank hydrodynamics

    DEFF Research Database (Denmark)

    Rasmussen, Michael R.; Lunger, Angela; Laursen, Jesper;

    2006-01-01

    The effect of stocking density upon the hydrodynamics of a circular tank, configured in a recirculation system, was investigated. Red drums Sciaenops ocellatus of approximately 140 g wet weight, were stocked at five rates varying from 0 to 12 kg m-3. The impact of the presence of fish upon tank...... hydrodynamics was established using in-tank-based Rhodamine WT fluorometry at a flow rate of 0.23 l s-1 (tank exchange rate of 1.9 h-1). With increasing numbers of animals, curvilinear relationships were observed for dispersion coefficients and tank mixing times. Stocking densities of 3, 6, 9 and 12 kg m-3...

  20. Forecasting Croatian stock market index: Crobex

    OpenAIRE

    Zoran Ivanovic; Sinisa Bogdan; Suzana Baresa

    2013-01-01

    Forecasting stock returns is considered one of the hardest tasks for every potential investor. This paper attempts to predict the movement of Croatian stock market index Crobex on Zagreb Stock Exchange. Main aim of this paper was to empirically examine the best univariate Autoregressive Integrated Moving Average model for forecasting. This research examined ARIMA (p;d;q) model on weekly closed prices of Crobex from 01/01/2011 to 01/01/2013. First it was necessary to meet the stationary condit...

  1. Rice breeding with induced mutations

    International Nuclear Information System (INIS)

    The Joint FAO/IAEA Division of Atomic Energy in Food and Agriculture decided in 1964 to organize a co-ordinated research programme on the use of induced mutations in rice breeding. The programme was organized within the framework of activities of the International Rice Commission. This is a report of the Third Co-ordination Meeting of the participants, which was held in Taipei, 5-9 June 1967. As the projects, which together make up the co-ordinated programme, are at different stages of progress, the report contains a variety of papers including completed studies, field and progress reports, and highlights of the discussions with some additional recommendations prepared by the participants. Refs, figs and tabs

  2. Sugarcane Improvement Through Breeding and Biotechnology

    Science.gov (United States)

    The advancements in sugarcane breeding and the improvement of sugarcane through biotechnology have been reviewed by a team of leading sugarcane specialists from around the world. Topics covered in the breeding section include the evolution and origin of sugarcane, early history of conventional sugar...

  3. Mutation Breeding in Root and Tuber Crops

    International Nuclear Information System (INIS)

    Proceeded by a few general considerations about problems and results of mutation breeding in vegetatively propagated plants a review is given of the results of mutation breeding programs up to new in the different (tropical) root and tuber crops (cassava, sweet potato, yam, potato and others). (author)

  4. Plant Breeding: Surprisingly, Less Sex Is Better.

    Science.gov (United States)

    van Dijk, Peter J; Rigola, Diana; Schauer, Stephen E

    2016-02-01

    Introduction of apomixis, asexual reproduction through seeds, into crop species has the potential to dramatically transform plant breeding. A new study demonstrates that traits can be stably transferred between generations in newly produced apomictic lines, and heralds a breeding revolution needed to increase food production for the growing planet.

  5. Genetic diversity of 11 European pig breeds

    NARCIS (Netherlands)

    Lavall, G.; Iannuccelli, N.; Legault, C.; Milan, D.; Groenen, M.A.M.; Andersson, L.; Fredholm, M.; Geldermann, H.; Foulley, J.L.; Chevalet, C.; Ollivier, L.

    2000-01-01

    A set of eleven pig breeds originating from six European countries, and including a small sample of wild pigs, was chosen for this study of genetic diversity. Diversity was evaluated on the basis of 18 microsatellite markers typed over a total of 483 DNA samples collected. Average breed heterozygosi

  6. Cattle breeding goals and production circumstances.

    NARCIS (Netherlands)

    Groen, A.F.

    1989-01-01

    This thesis gives the results of a study on the relationship between cattle breeding goals and production circumstances. The relationship between breeding goals and production circumstances mostly arises from the influences of production circumstances on the economic values of geneticim

  7. FUNDAMENTAL ANALYSIS AND DISCOUNTED FREE CASH FLOW VALUATION OF STOCKS AT MACEDONIAN STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    Nadica Ivanovska

    2014-06-01

    Full Text Available We examine the valuation performance of Discounted Free Cash Flow Model (DFCF at the Macedonian Stock Exchange (MSE in order to determine if this model offer significant level of accuracy and relevancy for stock values determination. We find that stock values calculated with DCF model are very close to average market prices which suggests that market prices oscillate near their fundamental values. We can conclude that DFCF models are useful tools for the companies’ enterprise values calculation on long term. The analysis of our results derived from stock valuation with DFCF model as well as comparison with average market stock prices suggest that discounted cash flow model is relatively reliable valuation tool that have to be used for stocks analyses at MSE.

  8. The Difference Between Stock Splits and Stock Dividends - Evidence from Denmark

    DEFF Research Database (Denmark)

    Raaballe, Johannes; Bechmann, Ken L.

    2007-01-01

    splits is closely related to changes in a firm's payout policy, but that the relationship differs for the two types of events. A stock dividend implies an increase in nominal share capital and hence a decrease in retained earnings. Firms announcing stock dividends finance growth entirely by debt...... (explaining the need for an increase in nominal share capital) and retained earnings. Basically all firms announcing a stock dividend with a split factor of less than two can also afford to increase their total cash dividends permanently, at least proportionally to the increase in share capital, leading...... a retained earnings/signaling hypothesis. For stock splits, no separate announcement effect was found when a firm's payout policy was controlled for. This lends support to the idea that a stock split per se is a cosmetic event on the CSE and is also consistent with the fact that making a stock split...

  9. The Relationship between Macroeconomic Variables and Stock Returns in the Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Saeed Samadi

    2012-06-01

    Full Text Available Relationship between stock returns and macroeconomic variables of interest to many researchers have been, But so far not reached a definitive conclusion about this relationship. This relationship varies from country to country due to the economic structure provides different results. In this study the impact of macroeconomic variables including exchange rates, world gold prices, inflation, liquidity and oil price on the stock returns index in Tehran Stock Exchange data is evaluated monthly over the period 1379 to 1389 by “ GACH “ economic model. Results showed that the gold price , inflation and exchange rate variables influencing on the stock return and oil price and liquidity had no impact on the stock returns. The results indicate that there is a lever on Tehran stock market.

  10. Selection criteria in organic cattle breeding

    Directory of Open Access Journals (Sweden)

    Savić Mila

    2014-01-01

    Full Text Available The central issue in process of organizing organic cattle breeding is the knowledge about specificities of this kind of production, good knowledge of breed characteristics (body composition, immune tolerance, expressed predisposition towards some diseases, production properties. Research centres, in collaboration with producers, have defined the essential features on which the selection programmes in organic cattle breeding are based on. Of the greatest importance for veterinary service is the fact that selection programmes in organic cattle breeding are in the first place based on giving priority to healthy animals, with strong immune system, good reproductive characteristics, which can be in production system for a long period. Additional important selective criteria is specific body resistance and adaptability of autochtonous breeds to environmental conditions. [Projekat Ministarstva nauke Republike Srbije, br. TP 31085

  11. Breed predisposition to canine gastric carcinoma

    DEFF Research Database (Denmark)

    Seim-Wikse, Tonje; Jörundsson, Einar; Nødtvedt, Ane;

    2013-01-01

    Previous research has indicated a breed predisposition to gastric carcinoma in dogs. However, results to date are inconsistent since several studies have failed to prove such a predisposition. Better knowledge of breeds at risk could facilitate early detection of gastric carcinoma in dogs. The ai...... of the study was to retrospectively investigate the proportion and possible breed predisposition to canine gastric carcinoma using the Norwegian Canine Cancer Register for calculations of proportional morbidity ratios (PMRs) for the period 1998-2009.......Previous research has indicated a breed predisposition to gastric carcinoma in dogs. However, results to date are inconsistent since several studies have failed to prove such a predisposition. Better knowledge of breeds at risk could facilitate early detection of gastric carcinoma in dogs. The aim...

  12. On the Relationship Between Stock Prices and Macroeconomic Variables in Istanbul Stock Exchange

    OpenAIRE

    M. Banu Durukan

    1999-01-01

    Even though numerous studies have been conducted to shed light on the relationship between stock prices and macroeconomic variables, there still remains unsettled controversy concerning this issue. Consequently, this paper aims to deal with this outstanding issue by actually investigating the effect of macroeconomic variables on stock prices in Istanbul Stock Exchange, an emerging market, over the time period from 1986 to 1998 by utilizing the Ordinary Least Squares (OLS) method. The empirica...

  13. Effect of Dividend Policy Measures on Stock Prices : With Reference to Karachi Stock Exchange, Pakistan

    OpenAIRE

    Ullah, Saif

    2011-01-01

    The objective of this study is to examine the dividend policy measures effect on the stock prices. A sample of 171 listed companies from Karachi Stock Exchange, Pakistan is examined for a period from 1998 to 2006. The dependent variable stock price volatility is regressed against the dividend policy measures (independent variables) e.g., dividend yield, dividend payout ratio, actual cash dividends and dividend to total assets of the firm, after controlling for firms’ profitability, liquidity,...

  14. A Comparative Analysis of Stock Price Behaviors on the Colombo and Nigeria Stock Exchanges

    OpenAIRE

    R.M. Kapila Tharanga Rathnayaka, D.M. K. N. Seneviratna

    2014-01-01

    Time series models are widely used in economics today; especially the nonlinear models under the stationary and non-stationary frameworks for forecasting future patterns. This study sheds light on stock market performance between the Colombo stock exchange (CSE) and Nigeria stock exchange (NSE) from January 2007 to May 2013 under the comparative purposes. Miscellaneous types of statistical techniques were widely used. The study results clearly suggested that the price movement in CSE is more ...

  15. FUNDAMENTAL ANALYSIS AND DISCOUNTED FREE CASH FLOW VALUATION OF STOCKS AT MACEDONIAN STOCK EXCHANGE

    OpenAIRE

    Nadica Ivanovska

    2014-01-01

    We examine the valuation performance of Discounted Free Cash Flow Model (DFCF) at the Macedonian Stock Exchange (MSE) in order to determine if this model offer significant level of accuracy and relevancy for stock values determination. We find that stock values calculated with DCF model are very close to average market prices which suggests that market prices oscillate near their fundamental values. We can conclude that DFCF models are useful tools for the companies’ enterprise values calcula...

  16. Does credit for equity investments feedback on stock market volatility? Evidence from an emerging stock market

    OpenAIRE

    Onour, Ibrahim

    2011-01-01

    This paper investigates the causal relationships between volatility in Saudi stock market and banks credit for equity investments. Our finding indicate there is a bi-directional feedback effects between the stock price volatility and banks credit loans. In other words, volatility in private credit for equity investments influence volatility in stock price and vice versa. A policy implication of such result is that regulating private credit loans in banking sector could reduce the upn...

  17. Response of Stock Markets to Monetary Policy: An Asian Stock Market Perspective

    OpenAIRE

    Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad; Hassanzadeh, Ali; Danu Prasetyo, Ahmad

    2014-01-01

    We estimate the response of Asian stock market prices to exogenous monetary policy shocks using a vector error correction model. In our paper, monetary policy transmits to stock market price through three routes : money by itself, exchange rate, and inflation. Our result points to the fact that stock prices increase persistently in response to an exogenous easing monetary policy. Variance deposition results show that, after 10 periods, the forecast error variance of beyond 53% of the Tehran S...

  18. Do companies manage earnings ahead of stock-for-stock acquisitions? Recent evidence from the UK

    OpenAIRE

    Klobut, Henrik

    2014-01-01

    OBJECTIVES OF THE STUDY: In this thesis I study the earnings management phenomenon in conjunction with stock-for-stock acquisitions. I also examine certain acquirer and target company characteristics that have an effect on the magnitude of stock acquirers' discretionary accruals. The objective of this thesis is to expand academic understanding on earnings management and to provide explanations on management incentives to report adjusted figures ahead of acquisitions. Further, understandin...

  19. Patterns of molecular genetic variation among cat breeds.

    Science.gov (United States)

    Menotti-Raymond, Marilyn; David, Victor A; Pflueger, Solveig M; Lindblad-Toh, Kerstin; Wade, Claire M; O'Brien, Stephen J; Johnson, Warren E

    2008-01-01

    Genetic variation in cat breeds was assessed utilizing a panel of short tandem repeat (STR) loci genotyped in 38 cat breeds and 284 single-nucleotide polymorphisms (SNPs) genotyped in 24 breeds. Population structure in cat breeds generally reflects their recent ancestry and absence of strong breed barriers between some breeds. There is a wide range in the robustness of population definition, from breeds demonstrating high definition to breeds with as little as a third of their genetic variation partitioning into a single population. Utilizing the STRUCTURE algorithm, there was no clear demarcation of the number of population subdivisions; 16 breeds could not be resolved into independent populations, the consequence of outcrossing in established breeds to recently developed breeds with common ancestry. These 16 breeds were divided into 6 populations. Ninety-six percent of cats in a sample set of 1040 were correctly assigned to their classified breed or breed group/population. Average breed STR heterozygosities ranged from moderate (0.53; Havana, Korat) to high (0.85; Norwegian Forest Cat, Manx). Most of the variation in cat breeds was observed within a breed population (83.7%), versus 16.3% of the variation observed between populations. The hierarchical relationships of cat breeds is poorly defined as demonstrated by phylogenetic trees generated from both STR and SNP data, though phylogeographic grouping of breeds derived completely or in part from Southeast Asian ancestors was apparent.

  20. 26 CFR 1.306-3 - Section 306 stock defined.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Section 306 stock defined. 1.306-3 Section 1.306... (CONTINUED) INCOME TAXES Effects on Recipients § 1.306-3 Section 306 stock defined. (a) For the purpose of subchapter C, chapter 1 of the code, the term section 306 stock means stock which meets the requirements...

  1. 41 CFR 101-27.406 - Disposition of stock.

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 2 2010-07-01 2010-07-01 true Disposition of stock. 101...-Elimination of Items From Inventory § 101-27.406 Disposition of stock. Stocks of slow-moving items which are... this section, shall be taken, as necessary, to remove stocks of inactive items from inventory....

  2. 47 CFR 65.303 - Cost of preferred stock.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Cost of preferred stock. 65.303 Section 65.303... stock. The formula for determining the cost of preferred stock is: ER01JN95.001 Where: “Total Annual Preferred Dividends” is the total dividends on preferred stock for the most recent two years for all...

  3. 12 CFR 925.21 - Issuance and form of stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Issuance and form of stock. 925.21 Section 925... ASSOCIATES MEMBERS OF THE BANKS Stock Requirements § 925.21 Issuance and form of stock. (a) A Bank shall issue to each new member, as of the effective date of membership, stock in the member's name for...

  4. 26 CFR 1.1296-2 - Definition of marketable stock.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Definition of marketable stock. 1.1296-2 Section... Definition of marketable stock. (a) General rule. For purposes of section 1296, the term marketable stock means— (1) Passive foreign investment company (PFIC) stock that is regularly traded, as defined...

  5. Another Look at the Volatility of Stock Prices

    Science.gov (United States)

    Maruszewski, Richard F., Jr.

    2007-01-01

    Investors are interested in the volatility of a stock for various reasons. One investor may desire to purchase a low volatility stock for peace of mind. Another may be interested in a high volatility stock in order to have the opportunity to buy low and sell high as the price of the stock oscillates. This author had the fortunate timing of reading…

  6. Resilience and Critical Stock Size in a Stochastic Recruitment Model

    NARCIS (Netherlands)

    Grasman, J.; Huiskes, M.J.

    2001-01-01

    A stochastic model for fish recruitment is fitted to data after performing an age-structured stock assessment. The main aim is to investigate the relation between safe levels of spawning stock size and fish stock resilience. Resilience indicators, such as stock recovery time and the frequency that a

  7. The volatility of stock market prices.

    Science.gov (United States)

    Shiller, R J

    1987-01-01

    If the volatility of stock market prices is to be understood in terms of the efficient markets hypothesis, then there should be evidence that true investment value changes through time sufficiently to justify the price changes. Three indicators of change in true investment value of the aggregate stock market in the United States from 1871 to 1986 are considered: changes in dividends, in real interest rates, and in a direct measure of intertemporal marginal rates of substitution. Although there are some ambiguities in interpreting the evidence, dividend changes appear to contribute very little toward justifying the observed historical volatility of stock prices. The other indicators contribute some, but still most of the volatility of stock market prices appears unexplained. PMID:17769311

  8. Development of the stock exchange information system

    Directory of Open Access Journals (Sweden)

    Miladinović Radojko

    2006-01-01

    Full Text Available The stock exchange represents the key institution for the development of capital market of any country. Thus the information system of every stock exchange must satisfy very strict international standards. The development of these systems is particularly difficult in countries in transition, due to intense economic and legal changes, lack of technical and financial resources, lack of experience and knowledge in the area of the capital market business, etc. Therefore the special software project management methodology for their realization must be clearly defined. In the development process of the Belgrade Stock Exchange (BSE information system a new software project management methodology for its realization has been defined, the application of which is illustrated through a series of different development stages of the Belgrade Stock Exchange information system. In order to make all the problems more comprehensive, only the continuous trading method is described, being the most frequently used trading method in the world.

  9. Accrual components and stock trading costs

    Institute of Scientific and Technical Information of China (English)

    Qianhua; Lei

    2013-01-01

    This paper examines the relationship between accrual components and stock trading costs in China and finds that both abnormal and normal accruals are associated with these costs. Moreover, negative accruals, both abnormal and normal, have a greater influence on stock trading costs than positive accruals because of short-selling constraints in the Chinese stock market. Further analysis reveals that investors who are fixated on accruals are unable to separate positive or negative abnormal accruals from earnings in general.Additionally, investors overestimate the persistence of both positive and negative normal accruals. These findings constitute further evidence of the low degree of market efficiency in China. Chinese investors seem to overestimate firm value when abnormal and normal accruals are positive and underestimate it when they are negative, thus leading to an asymmetric effect on trading costs between positive and negative accruals in the face of short-selling constraints in the Chinese stock market.

  10. Decision Support for the Rolling Stock Dispatcher

    DEFF Research Database (Denmark)

    Groth, Julie Jespersen

    and planning processes of the railway operator DSB S-tog a/s. In the thesis the problems existing in the railway planning process from the strategic to real-time level are briefly sketched. Network planning, line planning, timetabling, crew and rolling stock planning is outlined and relevant references...... are given. Specifically the thesis references the operation research studies based on the railway operation of DSB S-tog a/s. Subsequently the process of dispatching is outlined with a specific emphasis on rolling stock. The rolling stock recovery problem is the problem of assigning train units to train...... problems of passenger railway transportation and the decomposed solution process of the rolling stock recovery problem. The paper on the robustness analysis has been accepted for submission in the International Journal of Operations Research. Two of the papers have been submitted to journals and are being...

  11. SIS - Species and Stock Administrative Data Set

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — The Species and Stock Administrative data set within the Species Information System (SIS) defines entities within the database that serve as the basis for recording...

  12. Dynamic Stock Market Participation of Households

    DEFF Research Database (Denmark)

    Khorunzhina, Natalia

    This paper develops and estimates a dynamic model of stock market participation, where consumers’ decisions regarding stock market participation are influenced by participation costs. The practical significance of the participation costs is considered as being a channel through which financial...... education programs can affect consumers’ investment decisions. Using household data from the Panel Study of Income Dynamics, I estimate the magnitude of the participation cost, allowing for individual heterogeneity in it. The results show the average stock market articipation cost is about 5% of labor...... income; however, it varies substantially over consumers’ life. The model successfully predicts the level of the observed articipation rate and the increasing pattern of stock market participation over the consumers’ life cycle....

  13. Influence network in Chinese stock market

    CERN Document Server

    Gao, Ya-Chun; Cai, Shi-Min

    2015-01-01

    In a stock market, the price fluctuations are interactive, that is, one listed company can influence others. In this paper, we seek to study the influence relationships among listed companies by constructing a directed network on the basis of Chinese stock market. This influence network shows distinct topological properties, particularly, a few large companies that can lead the tendency of stock market are recognized. Furthermore, by analyzing the subnetworks of listed companies distributed in several significant economic sectors, it is found that the influence relationships are totally different from one economic sector to another, of which three types of connectivity as well as hub-like listed companies are identified. In addition, the rankings of listed companies obtained from the centrality metrics of influence network are compared with that according to the assets, which gives inspiration to uncover and understand the importance of listed companies in the stock market. These empirical results are meaning...

  14. Scaling in the Bombay stock exchange index

    Indian Academy of Sciences (India)

    Ashok Razdan

    2002-03-01

    In this paper we study Bombay stock exchange (BSE) index financial time series for fractal and multifractal behaviour. We show that BSE index time series is monofractal and can be represented by a fractional Brownian motion.

  15. Combining Stocks and Flows of Knowledge

    DEFF Research Database (Denmark)

    Ambos, Tina C.; Nell, Phillip Christopher; Pedersen, Torben

    In the area of knowledge management and knowledge governance, previous research has mostly focused on either knowledge stocks or knowledge flows of firms or organizational units. Contrary to this work, our study is among the first to integrate these two perspectives in order to shed light...... on the complementarity effects of different types of knowledge stocks and flows in the multinational corporation (MNC). We investigate intra-functional as well as cross-functional complementarity effects from the perspective of the knowledge recipient. We test the impact of stocks on flows on the benefit that is created...... for MNC units. Based on a comprehensive sample of 324 relationships between MNC units we find that both types of complementarity create benefits for these units, but that the effects from intra-functional combinations of knowledge stocks and flows are significantly stronger than from cross...

  16. Predicting outcomes: Sports and stocks.

    Science.gov (United States)

    Wood, G

    1992-06-01

    Many gamblers and most fans, players, and coaches offer causal explanations for long runs of good or bad performance in sports and financial analysts are quick to offer explanations for the daily performance of the stock market. The records of professional basketball and baseball teams and the Dow Jones daily closing average for a ten year period were evaluated for trends (streaks). The records of teams were also evaluated to assess whether the record against opponents, the home court or home field advantage, and-for baseball teams-the record of the winning and losing pitcher (excluding the current game) predicted the outcome of individual games. Recent performance is, at best, a very weak predictor of current performance and the three best predictors for baseball (pitching, home field, and record against opponent) together accounted for only 1.7% of the variance in the outcomes of individual games. We overestimate our ability to predict. This overconfidence is likely to play a role in maintaining gambling behaviors. PMID:24241784

  17. Stock Prices’ Variability around Earnings Announcement Dates at Karachi Stock Exchange

    Directory of Open Access Journals (Sweden)

    Muhammad Azeem Qureshi

    2012-01-01

    Full Text Available The purpose of this study is to investigate how earnings announcement event affects stock returns at Karachi Stock Exchange (KSE. For this purpose we use the KSE-100 Index as our sample. We use the CAR Analysis to analyze the impact of earnings announcement over the stock returns around announcement dates. Our results suggest that KSE experiences abnormal stock returns around earnings announcement dates for the overall market and for different categories which indicate that efficient market hypothesis does not hold in Pakistani market and point out the presence of informational dissemination inefficiencies in the market.

  18. The Istanbul Stock Exchange and Economic Growth

    OpenAIRE

    Mehmet Adak

    2012-01-01

    The causality between the number of companies that are transacted in the Istanbul Stock Exchange market and economic growth in Turkish economy has been analyzed in this study. The analysis covers the 23 years between 1986 and 2009. The study shows that the number of new firms transacted in the stock exchange market account for 18% of annual national economic growth according to least square test results. These test results have been examined usingserial correlation and heteroskedasticity test...

  19. Evolution of unemployment population stocks in Romania

    OpenAIRE

    Irena MOCANU

    2010-01-01

    Effects of the current crisis on the evolution of the stocks of theunemployed persons in Romania. The present paper is focused on the analysis of general dynamic of the input and output flows in/from unemployment, emphasising the growth of the stocks of unemployed population, at national and county levels. The annexes of the annual progress reports published by the National Agency for Employment represent the data-base used in the study. The input flows in unemployment registered a constant e...

  20. Evolution of unemployment population stocks in Romania

    Directory of Open Access Journals (Sweden)

    Irena MOCANU

    2010-09-01

    Full Text Available Effects of the current crisis on the evolution of the stocks of theunemployed persons in Romania. The present paper is focused on the analysis of general dynamic of the input and output flows in/from unemployment, emphasising the growth of the stocks of unemployed population, at national and county levels. The annexes of the annual progress reports published by the National Agency for Employment represent the data-base used in the study. The input flows in unemployment registered a constant evolution, but the outputflows from unemployment have fell in all counties, this evolutions being the source of stocks of unemployed persons. In 2008, a number of 31 counties have stocks of unemployed, ranging between 9,900 persons and 80 persons; in 2009, all the counties registered stocks of unemployed. The largest stocks (more than 10,000 persons were specific for some counties situated in south, south-east and centre. The majority of counties registers some multi-annual averages values of the stocks of unemployed ranging between 2,500 – 1,000 persons, the largest being in Prahova, Suceava, Galaţi, Argeş, Dolj. Between2007 - 2009, the ratio between output form unemployment (by hiring and input in unemployment (due to layoffs decreased continuously and sharply in 2009 compared to 2008: 2.8 in 2007, 2.3 in 2008 and only 0.6 in 2009. The growth of the stocks of unemployed in all counties and the decrease of ration between hiring and redundancies represent ones of the effects of the current crisis.

  1. Stock Option Compensation and Managerial Turnover

    OpenAIRE

    Raluca Georgiana NASTASESCU

    2009-01-01

    This study examines the association between managerial turnover and equity-based compensation. I investigate whether stock options act to bond executives to their firms and whether retention of managers is a motivation of companies in designing CEO incentive contracts. The results show that stock options do negatively influence the probability of a CEO leaving the company. The monetary cost of losing the value of equity-based compensation package keeps the manager with his company. I also fin...

  2. Oil price shocks and stock market activity

    Energy Technology Data Exchange (ETDEWEB)

    Sadorsky, P. [Schulich School of Business, York University, Toronto, ON (Canada)

    1999-10-01

    Results from a vector autoregression show that oil prices and oil price volatility both play important roles in affecting real stock returns. There is evidence that oil price dynamics have changed. After 1986, oil price movements explain a larger fraction of the forecast error variance in real stock returns than do interest rates. There is also evidence that oil price volatility shocks have asymmetric effects on the economy. 29 refs.

  3. Paleomagnetism of the Becker Peak stock

    Science.gov (United States)

    Miller, B. A.; Housen, B. A.

    2009-12-01

    Paleomagnetic studies of plutonic rocks, although subject to uncertainty due to lack of paleohorizontal control, can provide important constrains of patterns of regional deformation, and can play a role in evaluation of tectonic models and reconstructions. Many plutonic rocks of the Cascades have been well-studied via paleomagnetism, but there are many that lack robust data sets. One such pluton, the Beckler Peak stock, is a late Cretaceous tonalitic stock, with biotite and amphibole K-Ar ages of 93 to 82 Ma (Engels and Crowder, 1971, Yeats and Engels, 1971). The Beckler Peak stock is considered to be a companion body to the larger Mt. Stuart Batholith, but is separated from the Mt. Stuart Batholith by the Evergreen Fault. For this study five paleomagnetic sites were sampled from the Beckler Peak stock near Skykomish, Washington. After low temperature and thermal demagnetization site means were calculated for the four sites where at least two samples survived demagnetization. Unblocking temperatures were indicative of magnetite and hematite as the carriers of remanence. Two of the site means were disregarded due to anomalous directions likely due to sites being from very large slump blocks. The two acceptable site means, along with a Beckler Peak stock site mean from Beck and Noson (1972) and another from Housen et al. (2003) give a stock-wide mean of D = 3.8°, I = 41.9°, k = 32.9, and α95 = 16.2°. This direction is consistent with mean directions for the Mount Stuart batholith determined by Beck and Noson (1972), Beck et al. (1981), and Housen et al. (2003). This directional consistency supports an association between the Beckler Peak stock and the Mt. Stuart Batholith, or at least that these two plutonic bodies were emplaced in the same structural block, and that any post-magnetization deformation (such as rotation and/or tilt associated with the Evergreen Fault) between the Beckler Peak stock and the Mt. Stuart Batholith was minor.

  4. Econometric Studies of Stock Market Behaviour

    DEFF Research Database (Denmark)

    Rasmussen, Anne-Sofie Reng

    This thesis consists of three sefcontained essays, all centering around the topic of stock market behaviour. The papers focus on the empirical performance of a number of asset pricing models, all attempting to quantify and price asset risk. We look at how well these models actually do in describing...... the historic behaviour of the stock market, allowing us to get further insight into what drives the markes....

  5. Institutional Weakness and Stock Price Volatility

    OpenAIRE

    Galina B. Hale; Razin, Assaf; Tong, Hui

    2006-01-01

    We find an empirical regularity that stronger creditor protection reduces the volatility of stock market prices. We analyze two distinct mechanisms that characterize equity price volatility: government guarantees and creditor protection. Using a Tobin q model, we demonstrate that weak creditor protection that gives rise to government guarantees and tightens credit constraints, increases stock price volatility. Empirically, accounting for the probability of financial crises, we find that gover...

  6. Stock Price Booms and Expected Capital Gains

    OpenAIRE

    Adam, Klaus; Beutel, Johannes; Marcet, Albert

    2014-01-01

    The booms and busts in U.S. stock prices over the post-war period can to a large extent be explained by fluctuations in investors' subjective capital gains expectations. Survey measures of these expectations display excessive optimism at market peaks and excessive pessimism at market troughs. Formally incorporating subjective price beliefs into an otherwise standard asset pricing model with utility maximizing investors, we show how subjective belief dynamics can temporarily delink stock price...

  7. UNDERGROUND ECONOMY, GDP AND STOCK MARKET

    OpenAIRE

    Caus Vasile Aurel

    2012-01-01

    Economic growth is affected by the size and dynamics of underground economy. Determining this size is a subject of research for many authors. In this paper we present the relationship between underground economy dynamics and the dynamics of stock markets. The observations are based on regression used by Tanzi (1983) and the relationship between GDP and stock market presented in Tudor (2008). The conclusion of this paper is that the dynamics of underground economy is influenced by dynamic of f...

  8. Stock Markets Indices in Artificial Insymmetrization Patterns

    International Nuclear Information System (INIS)

    The daily data of indices of Warsaw Stock Exchange - WIG, and New York Stock Exchange - NASDAQ, NYSE and S and P 500 for the last two years are being studied. Properties of fluctuations of daily returns found from scaling analysis of tails are confronted with patterns obtained by the artificial insymmetrization method to specify difference between the world-wide American market and local and rather marginal Polish market. (author)

  9. Oil price shocks and stock market activity

    International Nuclear Information System (INIS)

    Results from a vector autoregression show that oil prices and oil price volatility both play important roles in affecting real stock returns. There is evidence that oil price dynamics have changed. After 1986, oil price movements explain a larger fraction of the forecast error variance in real stock returns than do interest rates. There is also evidence that oil price volatility shocks have asymmetric effects on the economy. 29 refs

  10. An analysis of the Chinese stock market

    OpenAIRE

    Wang, Lin

    2006-01-01

    With the introduction of a market economy, China is experiencing rapid economic development. As an indispensable component to its economic system, China’s stock market came through its initial set-up period, overcame challenges, suffered pains, and is currently progressing towards to an internationalised direction. However, its immaturity hinders its continuous development and the country’s economic expansion. This paper focuses on the status quo of Chinese stock market and centres on problem...

  11. Determinants of Stock Market Performance in Nepal

    OpenAIRE

    Prakash Kumar Shrestha Ph.D.; Biggyan Raj Subedi

    2014-01-01

    This paper empirically examines the determinants of the stock market performance in Nepal using monthly data for the period of mid-August 2000 to mid-July 2014. The impact of major changes in politics and Nepal Rastra Bank’s policy on lending against share collateral has also been assessed. Empirical results obtained from OLS estimations of behavioural equations reveal that the performance of stock market is found to respond positively to inflation and broad money growth, and negatively to in...

  12. Accounting, Stock Markets and Everyday Life

    OpenAIRE

    Johed, Gustav

    2007-01-01

    The backdrop of this dissertation is one ubiquitous element of everyday life: the stock market. Traditionally, accounting and stock markets are logically coordinate entities and this thesis analyzes how accounting supports private investors in their role as shareholders – as investors in shares and owners of companies. This analysis is carried out in four independent essays. The first two essays analyze the privatization of Telia, a former state-owned Telecommunication Company in Sweden that ...

  13. Development of the stock exchange information system

    OpenAIRE

    Miladinović Radojko

    2006-01-01

    The stock exchange represents the key institution for the development of capital market of any country. Thus the information system of every stock exchange must satisfy very strict international standards. The development of these systems is particularly difficult in countries in transition, due to intense economic and legal changes, lack of technical and financial resources, lack of experience and knowledge in the area of the capital market business, etc. Therefore the special software proje...

  14. Stock Markets: A Catalyst for Economic Growth

    OpenAIRE

    Najeb M.H. Masoud

    2013-01-01

    The stock market is a common feature of a current economy and it is reputed to achieve some necessary functions, which promote the growth and development of the economy. To achieve this objective, the endogenous growth literature and research, and recent theoretical studies have tried to provide a link between the literature of endogenous growth theory and financial markets. Providing evidence of stock market development will assist policy makers in designing reforms that do indeed promote th...

  15. China's Stock Market: New Year, New Trends

    Institute of Scientific and Technical Information of China (English)

    Audrey Guo

    2008-01-01

    @@ On February 5th,the last trading day in the Year of the Pig,continued the falling trend in China's A-share market,and large companies like PetroChina lifted restrictions on sales of large volume heavyweight shares.The Shanghai Stock index dropped by 1.55 percent,which completely broke people's belief in the stock market as China moved into the New Year.

  16. Volatility Spreads and Expected Stock Returns

    OpenAIRE

    Turan G. Bali; Armen Hovakimian

    2009-01-01

    This paper investigates whether realized and implied volatilities of individual stocks can predict the cross-sectional variation in expected returns. Although the levels of volatilities from the physical and risk-neutral distributions cannot predict future returns, there is a significant relation between volatility spreads and expected stock returns. Portfolio level analyses and firm-level cross-sectional regressions indicate a negative and significant relation between expected returns and th...

  17. Stock Market in Pakistan: An Overview

    OpenAIRE

    Iqbal, Javed

    2008-01-01

    This paper reviews the main features of the Stock market in Pakistan focussing on post-liberalization period. The aspects of the market investigated include liberalization of the market, integration the market with the world markets, trading and settlement mechanism, and corporate governance issues. Finally salient features of the market are compared to a selected set of emerging and developed markets. Pakistan’s stock market is smaller in size but is significantly more active than the marke...

  18. Population structure of humpback whales from their breeding grounds in the South Atlantic and Indian Oceans.

    Directory of Open Access Journals (Sweden)

    Howard C Rosenbaum

    Full Text Available Although humpback whales are among the best-studied of the large whales, population boundaries in the Southern Hemisphere (SH have remained largely untested. We assess population structure of SH humpback whales using 1,527 samples collected from whales at fourteen sampling sites within the Southwestern and Southeastern Atlantic, the Southwestern Indian Ocean, and Northern Indian Ocean (Breeding Stocks A, B, C and X, respectively. Evaluation of mtDNA population structure and migration rates was carried out under different statistical frameworks. Using all genetic evidence, the results suggest significant degrees of population structure between all ocean basins, with the Southwestern and Northern Indian Ocean most differentiated from each other. Effective migration rates were highest between the Southeastern Atlantic and the Southwestern Indian Ocean, followed by rates within the Southeastern Atlantic, and the lowest between the Southwestern and Northern Indian Ocean. At finer scales, very low gene flow was detected between the two neighbouring sub-regions in the Southeastern Atlantic, compared to high gene flow for whales within the Southwestern Indian Ocean. Our genetic results support the current management designations proposed by the International Whaling Commission of Breeding Stocks A, B, C, and X as four strongly structured populations. The population structure patterns found in this study are likely to have been influenced by a combination of long-term maternally directed fidelity of migratory destinations, along with other ecological and oceanographic features in the region.

  19. Genetic Diversity Analysis of the Gohilwari Breed of Indian Goat (Capra hircus Using Microsatellite Markers

    Directory of Open Access Journals (Sweden)

    S. Kumar

    2009-01-01

    Full Text Available Problem statement: Gohilwari breed of goat is a multipurpose goat mainly for milk and meat purposes and best suited in its harsh climatic condition. This breed is inadequately characterized till now at DNA level. So the present study was undertaken for population genetic analysis at molecular level to exploit the breed for planning sustainable improvement, conservation and utilization, which subsequently can improve the livelihood of its stake holders. Approach: The experiment was conducted on 50 genomic DNA samples of unrelated goat using 25 microsatellite markers selected from the list suggested by International Society for Animal Genetics (ISAG and FAO’s (DAD-IS. Results: All of the 25 microsatellites were well amplified. The observed number of alleles detected per locus ranged from 4-24 with an overall mean of 10.12±5.46. Overall mean observed heterozygosity of 0.505 was lower than the overall mean expected heterozygosity of 0.684. Most of the loci showed the heterozygote deficit as also depicted by Fis value. There was substantial genetic variation and polymorphism across studied loci in the Gohilwari breed of goat. And this population was not in Hardy-Weinberg equilibrium at most of the studied loci. This population was also receiving new genetic materials throuFgh introduction of immigrants. Conclusion: The strong inference that the Gohilwari breed of goat has not undergone bottleneck is also important for goat breeders and conservationists, as it suggests that any unique alleles present in this breed may not have been lost. Therefore, it can be recommended that within-breed diversity is actively maintained to enable these extensively unmanaged stocks to adapt to future demands and conditions and there is ample scope for further improvement in its productivity through appropriate breeding strategies. Though, microsatellites are neutral to selection with Ewens-Watterson test for neutrality some microsatellites were found not neutral or

  20. Think About Tomorrow Morning: Opening Stock Returns May Show Reversals

    OpenAIRE

    Andrey Kudryavtsev

    2013-01-01

    In present study, I explore the dynamics of the interday stock price reversals. Employing intraday price data on thirty stocks currently making up the Dow Jones Industrial Index, I document that stock returns in opening trading sessions tend to be higher following days with relatively low (either negative, or lower than the same day's average and median for the total sample of stocks) open-to-close returns. This kind of price behavior seems to contradict stock market efficiency. Based on this...

  1. The Development of Stock Markets: In Search of a Theory

    OpenAIRE

    KAMAL A. EL-WASSAL

    2013-01-01

    This paper aims to provide a framework for the main determinants of stock market development. Assessing stock market development requires not only an understanding of its main determinants but also a clear definition of what “stock market development” means and how progress towards it can be measured. This paper reconsiders the concept of stock market development and suggests five dimensions for assessing it. In addition, it proposes four sets of factors that shape or determine stock market d...

  2. ANALYSIS OF THE BUCHAREST STOCK EXCHANGE INDICES STRUCTURE

    OpenAIRE

    Mihaela SUDACEVSCHI

    2013-01-01

    A stock market index is used for measure the stock market activity or the value of a section of the stock market. Bucharest Stock Exchange (BSE) currently has 7 indices, with different structures, whose evolution reflects the real situation of the most liquid companies listed on the BSE or the price movement of all the companies listed on the BSE regulated market, in fact the situation of the Romanian economy. For investors, stock indices evolution is very important, since highlights the stoc...

  3. LINE CONSTRUCTION OF NONIUS BREED IN SLOVAKIA

    Directory of Open Access Journals (Sweden)

    Eva Mlyneková

    2013-12-01

    Full Text Available Nowadays breeding has become the problem often solved in European states and it has been paid much attention by breeding organizations. In terms of hippology as well as some urgent requirements from the side of nonius breeders we have focussed on this particular breed especially from the reason of its further survival and development in Slovakia. The aim of this paper was to evaluate the growth indicators as well as the achievement level of the stallions since 1927 to the present. Based on our research of the nonius body lines we can state that at present there are 3 stallions that are followers of the N VIII horse line founder. In general, there are 12 stallions that are active within this breed in Slovakia. It was statistically confirmed that this particular breed grew much stronger through the goal-directed breeding work, improved nutrition as well as the immediate breeding site. It was quite complicated to evaluate the performance tests because the individual indicators were significantly influenced by the subjective views of the commitee members performing the evaluation. The next factor which prevents the objective evaluation is the fact that in the period up to 1979, the performance tests were valued by the 100 point system and from the year 1980 by the 10 point system. That is why we take the performance test results into account only as supplemental ones, which can provide a kind of amendment to the observed biological parameters.

  4. RESEARCH REGARDING NATIVE DOMESTICATED ENDANGERED ANIMAL BREEDS

    Directory of Open Access Journals (Sweden)

    M. MATIUłI

    2013-12-01

    Full Text Available The research done in this paper was made in Transylvania and Banat. The autochthon domestic endangered animal breeds were inventoried, zonal maps on where to encounter these breeds being drawn. The list of these species contains: the gray cattle, the Mocanitza (the mountain breed sheep, the Transylvanian Pinzgau, the black Pinzgau, the Transylvanian bull, the Nonius horse, the Western mountain hores breed, the Mangalitza breed, the Bazna breed, the black of Strei, the Transylvanian Merino, the curly haired sheep of Banat, the white goat of Banat, the hound of Ardeal region. In the last 20 years, in these species there was a significant drop in numbers and, in some cases, even in quality. If urgent measures to preserve these species will not be taken, there is a possibility that in the next 10 years, some of them will disappear. The protection plans for these breeds are, in the majority of the cases, just simple projects that no one is applying. Since 2007, in the Faculty of Veterinary Medicine there is a Data Base to monitor the native domestic animals from the western area of Romania. The data from this data base are used by farmers, pickers and specialists from the food industry.

  5. Iberian origins of New World horse breeds.

    Science.gov (United States)

    Luís, Cristina; Bastos-Silveira, Cristiane; Cothran, E Gus; Oom, Maria do Mar

    2006-01-01

    Fossil records, archaeological proofs, and historical documents report that horses persisted continuously in the Iberian Peninsula since the Pleistocene and were taken to the American continent (New World) in the 15th century. To investigate the variation within the mitochondrial DNA (mtDNA) control region of Iberian and New World horse breeds, to analyze their relationships, and to test the historical origin of New World horses, a total of 153 samples, representing 30 Iberian and New World breeds, were analyzed by sequencing mtDNA control region fragments. Fifty-four haplotypes were found and assigned to seven haplogroups. Reduced levels of variation found for the Menorquina, Sorraia, and Sulphur Mustang breeds are consistent with experienced bottlenecks or limited number of founders. For all diversity indices, Iberian breeds showed higher diversity values than South American and North American breeds. Although, the results show that the Iberian and New World breeds stem from multiple origins, we present a set of genetic data revealing a high frequency of Iberian haplotypes in New World breeds, which is consistent with historical documentation. PMID:16489143

  6. Cassava Mutation Breeding: Current Status and Trends

    International Nuclear Information System (INIS)

    Cassava (Manihot esculenta Crantz) is an important energy source in the diets of millions of people in the tropical and subtropical regions of the world, especially the poor. Also its industrial uses are steadily growing for starch, animal feed and bio-ethanol. Although it has high economic and social relevance, few major scientific efforts have been made to improve the crop until the 1970s. With the goals and objectives of cassava improvement through breeding, different strategies have been developed during the last several decades, such as evaluation and selection of the local landraces, introduced germplasm (as clones or segregating F1 population), hybridization (including inbreeding by both recurrent back-cross schemes and double haploids (DH)), interspecific hybridization, polyploidy breeding, genetic transformation, use of molecular markers and mutation breeding. Induced mutation breeding on cassava has been explored in the last several decades with few published papers. Yet, the production of novel genotypes, such as high amylose and small granule mutants and mutants with tolerance to post harvest physiological deterioration (PPD), has been reported. These results suggest that mutagenesis could be an effective alternative for cassava breeding. However, many drawbacks still exist in cassava mutation breeding, such as the occurrence of chimeras. Validated and developing protocols for different biotechnologies, such as TILLING protocol, cassava genome sequencing and cassava somatic embryogenesis, will significantly ameliorate the drawbacks to traditional mutation breeding, and consequently aid the routine application of induced mutation in both cassava improvement and in gene discovery and elucidation. (author)

  7. Which stocks are profitable? A network method to investigate the effects of network structure on stock returns

    Science.gov (United States)

    Chen, Kun; Luo, Peng; Sun, Bianxia; Wang, Huaiqing

    2015-10-01

    According to asset pricing theory, a stock's expected returns are determined by its exposure to systematic risk. In this paper, we propose a new method for analyzing the interaction effects among industries and stocks on stock returns. We construct a complex network based on correlations of abnormal stock returns and use centrality and modularity, two popular measures in social science, to determine the effect of interconnections on industry and stock returns. Supported by previous studies, our findings indicate that a relationship exists between inter-industry closeness and industry returns and between stock centrality and stock returns. The theoretical and practical contributions of these findings are discussed.

  8. INFLUENCE OF BREED ON CARCASS CUTS COMPOSITION

    Directory of Open Access Journals (Sweden)

    Silvester Žgur

    2000-06-01

    Full Text Available Carcass from 260 Simmental and 159 Brown bulls were dissected first to different cuts (chuck, shoulder, front shank, rib roast, back, loin, tenderloin, brisket, rib, flank, leg and hind shank and then to lean, fat, tendon and bone. The comparison between two breeds was made at 12.5 % carcass fat. Simmental breed had statistically significantly higher share of leg and brisket with rib and lower share of chuck, front and hind shank, rib roast, tenderloin and flank, with higher lean and lower bone percentage, but the differences were relatively small compared to Brown breed.

  9. Management and Breeding Soundness of Mature Bulls.

    Science.gov (United States)

    Palmer, Colin W

    2016-07-01

    Mature bulls must be fed a balanced ration, vaccinated appropriately, and undergo a breeding soundness evaluation to ensure they meet what is required of a short, but intense breeding season. To be classified as a satisfactory potential breeder, minimum standards for physical soundness, scrotal circumference, sperm motility, and sperm morphology must be achieved using an accepted bull-breeding soundness evaluation format. Sperm production requires approximately 70 days. Heat and stress are the most common insults to spermatogenesis, causing an increase in morphologic abnormalities with obesity-associated scrotal fat accumulation being the most frequent cause of elevated testicular temperature in mature bulls.

  10. Guinea-pig breeding for meat production

    OpenAIRE

    Aguilera Hidalgo, Grey Estefanía

    2013-01-01

    Guinea-pig breeding for meat production is one of the unknown economical activities in the Czech Republic and in many other contries in the world. It is an industry that is developing fast in Ecuador, Peru, Bolivia and Colombia, because of fact that it is easy, fast and it does not need a lot of investment and where its consumption averages 20 to 65 milion guinea-pigs per year. The main objective of guinea-pig breeding just like breeding of other livestock, is to produce big amounts of meat w...

  11. In vitro technology for mutation breeding

    International Nuclear Information System (INIS)

    The ultimate aim of the Co-ordinated Research Programme on In Vitro Technology for Mutation Breeding is to provide new effective tools for plant breeders to construct new cultivars, thus increasing agricultural production of food, feed and industrial raw material, particularly in developing countries. The participants of the research co-ordination meetings considered the potential of new advances of agricultural biotechnology, especially the use of in vitro techniques for mutation breeding. They discussed and co-ordinated plans in conjunction with the impact on plant breeding of novel technologies, such as use of somaclonal variation, cell hybridization and molecular genetics

  12. Breeding Practices in Sheep Farming

    Directory of Open Access Journals (Sweden)

    M.A. Shejal

    2009-02-01

    Full Text Available The sheep is an important economic livestock species, contributing greatly to the Indian economy, especially in arid, semi arid and mountain areas. The current population in world is 1110.78 millions, around 44.85 millions (1987 sheeps in India (ICAR., 2002. Sheeps are mostly reared for meat and wool. The average annual wool production per sheep is between 3.5 to 5.5 kg of fine quality wool in Australia, New Zealand and U.S.S.R., where as in India except Magra sheep which annually yield more than 2 kg wool having staple length 5.8 cm, the average of rest of the wool produced is less than 1.0 kg per sheep of inferior quality (Banerjee G.C., 1998. Therefore many farmers in southern India adapted sheep rearing for meat production than for wool production. For yielding more production from sheep farming one should have sound knowledge of general information related to the reproduction and different breeding practices. [Vet. World 2009; 2(1.000: 43-44

  13. Breeding bald eagles in captivity

    Science.gov (United States)

    Maestrelli, J.R.; Wiemeyer, Stanley N.

    1975-01-01

    A 7-year-old female Bald Eagle from Alabama was paired with a 4-year-old Alaskan male in a large flight pen during December 1969. Both birds were free of physical defects when originally placed in the pen but the female was blind in one eye prior to the 1973 breeding season.....Nesting first occurred during 1971 when at least two eggs were laid; all but one, which showed no sign of embryonic development after being incubated for 56 days, were broken by the adult birds. Two of three eggs laid in 1972 hatched. Both young died a few days after hatching following a period of inclement weather. Three eggs were laid and hatched during 1973. Antagonism between the nestlings was observed soon after hatching and may have been responsible for the unobserved death of one nestling, two days after the third young hatched. The two remaining young were raised by the adult birds and eventually left the nest 85 days after the first egg hatched. Incubation periods for the 1972-73 clutches averaged 35 days. No renesting attempts were made by the eagles during the 3.year period.

  14. Plant breeding and genetics newsletter. No. 6

    International Nuclear Information System (INIS)

    We are approaching the end of yet another year and it is logical to take stock of the activities undertaken by the sub Programme during 2000. Our primary focus has continued to help Member States in improving crops by using radiation-induced mutations. Many allied technologies, particularly tissue culture and molecular biology have been added to enhance the efficiency of mutant induction, isolation, multiplication and their release as new varieties. We have continued to bring the latest developments and innovations in these rapidly advancing technologies for integration into the conventional breeding of mutation-derived varieties. This is reflected in the on-going Coordinated Research Projects (CRPs) on new and traditional industrial crops, creation of new useful banana genotypes, molecular characterization of mutated genes controlling important traits in seed crops, radioactively labeled DNA probes in crop improvement and the improvement of local food crops in Low Income Food Deficit Countries, and in the two newly initiated (CRPs), one on the analysis of root characters in annual food plants related to plant performance and the other on the improvement of tropical fruits. The necessity to have an inter-disciplinary approach to solve problems is also reflected in the implementation of Technical Co-operation Projects (TCPs). For example, in North Africa, date palm has a unique role in food security and the eco-system. However, 'Bayoud' disease has killed over 15 million trees and is posing a serious threat to date palm production in Tunisia. Under a regional TCP to control the disease, irradiation of embryogenic cultures was investigated and low dose gamma radiation was found to increase the formation of somatic embryos. Date palm trees can also be multiplied in vitro through either shoot formation or somatic embryos, which allows irradiation of large populations. Another example is fruit crops, many of which have not benefited from the use of radiation

  15. THE EFFECT OF ECONOMIC FACTORS ON STOCK PRICE IN A GLOBAL ECONOMY : A CASE STUDY OF THE NIGERIAN STOCK MARKET

    OpenAIRE

    Ojeaga, Paul; Olushina, Folajin Victor

    2009-01-01

    The study was carried out to examine the effect of economic factors on stock price in a global economy - a case study of the Nigerian stock market. The main objectives of the study was to examine some peculiarities or differences in terms of economic variables that influence stock prices in the Nigerian stock market from those of the global economy. The study makes use of regression analysis and analysis of variance to analyze the secondary data obtained from the Nigerian Stock Market. There ...

  16. Soil organic carbon stocks in rangelands of SW Iberian Peninsula as influenced by land degradation

    Science.gov (United States)

    Pulido-Fernández, Manuel; Schnabel, Susanne; Francisco Lavado-Contador, Joaquín

    2014-05-01

    Rangelands in SW Iberian Peninsula occupy approximately 95,000 km2 of land grazed by millions of domestic animals. They are characterised by grasslands with varying tree density, interspersed in some areas with shrubs. The herbaceous layer is dominated by annual species and the tree layer is mainly formed of evergreen oak. Most rangelands are exploited in large farms (>100 ha), held mainly on private ownership and dedicated to extensive livestock breeding. Soil organic carbon (SOC) is an essential component of the fertility and productivity in both, natural and human-induced ecosystems. Previous research evidenced SOC is concentrated mainly in the top 5 cm soil layer, displaying large spatial variability, with higher values beneath tree canopies as compared to the open spaces. Traditional practices such as cereal cultivation, as well as an increasing number of domestic animals in the last decades, have been remarked as some of the main causes of SOC depletion in rangelands. However, a better understanding of how livestock grazing affects soil organic carbon stock is still needed. The main objective of this study is to investigate the possible relationships between land degradation and SOC stock in rangelands of SW Iberian Peninsula. Previous studies have shown that sheet erosion is one of the main soil degradation processes. In this study, we have compared SOC stock values from reference soils belonging to a farm where no livestock exists for more than 100 years, with those from 10 farms grazed by domestic animals in the Spanish region of Extremadura. The reference farm is an example of an undisturbed natural area composed of Mediterranean forest and dense scrub. In each farm at least 2 areas were selected, constituting in the case of the grazed farms fenced areas, where the stocking rates could be determined. These units are representative of different rangeland types: wooded rangelands (dehesas), treeless grasslands and scrublands of Retama sphaerocarpa with

  17. 12 CFR 552.2-6 - Conversion from stock form depository institution to Federal stock association.

    Science.gov (United States)

    2010-01-01

    ..., the term “depository institution” shall have the meaning set forth at 12 CFR 552.13(b). An application... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Conversion from stock form depository institution to Federal stock association. 552.2-6 Section 552.2-6 Banks and Banking OFFICE OF...

  18. 12 CFR 950.11 - Capital stock requirements; unilateral redemption of excess stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Capital stock requirements; unilateral redemption of excess stock. 950.11 Section 950.11 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK ASSETS AND OFF-BALANCE SHEET ITEMS ADVANCES Advances to Members § 950.11 Capital...

  19. ADVISABILITY OF MERGING THE BUCHAREST STOCK EXCHANGE AND THE SIBIU MONETARYFINANCIAL AND STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    Aura Dudas

    2011-01-01

    Full Text Available Analysis of performances of local stock exchanges in the latest years points out thenecessity of increasing the visibility of the local capital market in the regional andEuropean landscape. A single stock market may have the effect of increased credibility,giving thus an impulse to the number of new listings and of new investors.

  20. Taking stock: provider prescribing practices in the presence and absence of ACT stock

    Directory of Open Access Journals (Sweden)

    Jones Caroline

    2011-08-01

    Full Text Available Abstract Background Globally, the monitoring of prompt and effective treatment for malaria with artemisinin combination therapy (ACT is conducted largely through household surveys. This measure; however, provides no information on case management processes at the health facility level. The aim of this review was to assess evidence from health facility surveys on malaria prescribing practices using ACT, in the presence and absence of ACT stock, at time and place where treatment was sought. Methods A systematic search of published literature was conducted. Findings were collated and data extracted on proportion of patients prescribed ACT and alternative anti-malarials in the presence and absence of ACT stock. Results Of the 14 studies identified in which ACT prescription for uncomplicated malaria in the public sector was evaluated, just six, from three countries (Kenya, Uganda and Zambia, reported this in the context of ACT stock. Comparing facilities with ACT stock to facilities without stock (i ACT prescribing was significantly higher in all six studies, increasing by a range of 21.3% in children Conclusions Prescriber practices vary based on ACT availability. Although ACT prescriptions increased and alternative anti-malarials prescriptions decreased in the presence of ACT stock, ACT was prescribed in the absence, and alternative anti-malarials were prescribed in the presence of, ACT. Presence of stock alone does not ensure that treatment guidelines are followed. More health facility surveys, together with qualitative research, are needed to understand the role of ACT stock-outs on provider prescribing behaviours and preferences.

  1. 17 CFR 240.16a-9 - Stock splits, stock dividends, and pro rata rights.

    Science.gov (United States)

    2010-04-01

    ... acquisition of rights, such as shareholder or pre-emptive rights, pursuant to a pro rata grant to all holders..., and pro rata rights. 240.16a-9 Section 240.16a-9 Commodity and Securities Exchanges SECURITIES AND... Government Securities Dealers § 240.16a-9 Stock splits, stock dividends, and pro rata rights. The...

  2. Stocks and energy shocks : the impact of energy accidents on stock market value

    NARCIS (Netherlands)

    Scholtens, B.; Boersen, A.

    2011-01-01

    We investigate how financial market participants value energy accidents. We employ an event study to look into the response of stock markets to 209 accidents. These accidents were derived from Sovacool's (2008) database on major energy accidents from 1907 to 2007. It appears that the stock market in

  3. Optimization Stock Portfolio With Mean-Variance and Linear Programming: Case In Indonesia Stock Market

    Directory of Open Access Journals (Sweden)

    Yen Sun

    2010-04-01

    Full Text Available It is observed that the number of Indonesias domestic investor who involved in the stock exchange is very less compare to its total number of population (only about 0.1%. As a result, Indonesia Stock Exchange (IDX is highly affected by foreign investor that can threat the economy. Domestic investor tends to invest in risk-free asset such as deposit in the bank since they are not familiar yet with the stock market and anxious about the risk (risk-averse type of investor. Therefore, it is important to educate domestic investor to involve in the stock exchange. Investing in portfolio of stock is one of the best choices for risk-averse investor (such as Indonesia domestic investor since it offers lower risk for a given level of return. This paper studies the optimization of Indonesian stock portfolio. The data is the historical return of 10 stocks of LQ 45 for 5 time series (January 2004 December 2008. It will be focus on selecting stocks into a portfolio, setting 10 of stock portfolios using mean-variance method combining with the linear programming (solver. Furthermore, based on Efficient Frontier concept and Sharpe measurement, there will be one stock portfolio picked as an optimum Portfolio (Namely Portfolio G. Then, Performance of portfolio G will be evaluated by using Sharpe, Treynor and Jensen Measurement to show whether the return of Portfolio G exceeds the market return. This paper also illustrates how the stock composition of the Optimum Portfolio (G succeeds to predict the portfolio return in the future (5th January 3rd April 2009. The result of the study observed that optimization portfolio using Mean-Variance (consistent with Markowitz theory combine with linear programming can be applied into Indonesia stocks portfolio. All the measurements (Sharpe, Jensen, and Treynor show that the portfolio G is a superior portfolio. It is also been found that the composition (weights stocks of optimum portfolio (G can be used to predict the forward

  4. Crude oil price shocks and stock returns. Evidence from Turkish stock market under global liquidity conditions

    Energy Technology Data Exchange (ETDEWEB)

    Berk, Istemi [Koeln Univ. (Germany). Energiewirtschaftliches Inst.; Aydogan, Berna [Izmir Univ. of Economics (Turkey). Dept. of International Trade and Finance

    2012-09-15

    The purpose of this study is to investigate the impacts of crude oil price variations on the Turkish stock market returns. We have employed vector autoregression (V AR) model using daily observations of Brent crude oil prices and Istanbul Stock Exchange National Index (ISE- 1 00) returns for the period between January 2, 1990 and November 1, 2011. We have also tested the relationship between oil prices and stock market returns under global liquidity conditions by incorporating a liquidity proxy variable, Chicago Board of Exchange's (CBOE) S and P 500 market volatility index (VIX), into the model. Variance decomposition test results suggest little empirical evidence that crude oil price shocks have been rationally evaluated in the Turkish stock market. Rather, it was global liquidity conditions that were found to account for the greatest amount of variation in stock market returns.

  5. The ascent of cat breeds: genetic evaluations of breeds and worldwide random-bred populations.

    Science.gov (United States)

    Lipinski, Monika J; Froenicke, Lutz; Baysac, Kathleen C; Billings, Nicholas C; Leutenegger, Christian M; Levy, Alon M; Longeri, Maria; Niini, Tirri; Ozpinar, Haydar; Slater, Margaret R; Pedersen, Niels C; Lyons, Leslie A

    2008-01-01

    The diaspora of the modern cat was traced with microsatellite markers from the presumed site of domestication to distant regions of the world. Genetic data were derived from over 1100 individuals, representing 17 random-bred populations from five continents and 22 breeds. The Mediterranean was reconfirmed to be the probable site of domestication. Genetic diversity has remained broad throughout the world, with distinct genetic clustering in the Mediterranean basin, Europe/America, Asia and Africa. However, Asian cats appeared to have separated early and expanded in relative isolation. Most breeds were derived from indigenous cats of their purported regions of origin. However, the Persian and Japanese bobtail were more aligned with European/American than with Mediterranean basin or Asian clusters. Three recently derived breeds were not distinct from their parental breeds of origin. Pure breeding was associated with a loss of genetic diversity; however, this loss did not correlate with breed popularity or age.

  6. Evaluation of Egyptian sheep production systems: I. Breed crosses and management systems.

    Science.gov (United States)

    Almahdy, H; Tess, M W; El-Tawil, E; Shehata, E; Mansour, H

    2000-02-01

    Our objective was to evaluate life-cycle performance of flocks of two Egyptian breeds, Rahmani (R) and Ossimi (O), and their crosses with Finnish Landrace (F) in two management systems. Management systems were one mating season per year (1M) and three mating seasons per 2 yr (3M). Breeds and crosses studied included purebred R and O, F1 crosses 1/2F-1/2R (FR) and 1/2F-1/2O (FO), and inter se matings of 1/4 F-3/4 R (RFR) and 1/4 F-3/4 O (OFO). A dynamic computer model was used to simulate animal performance and enterprise efficiency and profit. Two measures of lifecycle feed conversion (biological efficiency) were computed: kilograms of TDN input per kilograms of empty body weight output (TDN/EBW) and kilograms of TDN input per kilogram of carcass lean output (TDN/CLN). Profit was measured as gross margin (income minus variable costs per ewe per year, GM/EWE). Input parameters for the model were obtained from published results and analyses of data collected from experimental flocks of the same genetic stocks in Egypt. Profit for FR and RFR was 42 and 6% higher in 1M than in 3M. However, profit for all other genetic types was 4 to 8% greater in 3M than in 1M. Breed rankings changed depending on the measure of evaluation (i.e., biological efficiency or profit). Maximization of system output did not necessarily improve efficiency. Under accelerated lambing systems, greater overhead costs associated with labor and feed offset gains in ewe productivity. Genetic stocks should be matched to resources and management systems. PMID:10709918

  7. Final Performance Report : Snowy Plover Breeding Distribution

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — Surveys of breeding populations and nesting habitat of the snowy plover were conducted from January to August, 1989 along the Gulf Coast of Florida and Alabama....

  8. Breeding for mechanised sesame production in Australia

    International Nuclear Information System (INIS)

    Introduction of sesame germplasm from Myanmar and Mexico was not satisfactory for successful development of the Australian sesame industry. Therefore, a national breeding programme was undertaken by CSIRO and the Northern Territory Department of Primary Industry and Fisheries (NTDPIF). The main traits considered for selection were latitudinal adaptation, temperature response, growth habit, determinacy, palatability, capsules per leaf axil, seed shattering and seed dormancy. The CSIRO breeding efforts started in 1989 with a hybridization programme using germplasm from Japan, Mexico, Myanmar, Rep. of Korea and Venezuela. This programme resulted in selection in the F6 generation of branched types released under the names 'Beech's choice' and 'Aussie Gold'. The NTDPIF sesame breeding programme started in 1993 with hybridization of introductions. The Mexican cultivar 'Yori 77' was selected for release, and after several years of intraline selection the uniculm cultivar 'Edith' was released in 1996. Further breeding continues to improve seed retention and resistance to charcoal rot. (author)

  9. Breeding peregrine falcon survey, Amchitka Island, Alaska

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — A breeding peregrine falcon (Falco peregrines) survey was conducted on Amchitka Island, Alaska Maritime National Wildlife Refuge from May 2-9, 1981 in conjunction...

  10. Waterfowl Breeding Population and Habitat Survey

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — The Waterfowl Breeding Population and Habitat Survey was initiated experimentally in 1947 and became operational in 1955. It is conducted cooperatively by the U.S....

  11. Waterfowl breeding population survey: Southern Manitoba: 1983

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This report summarizes the Waterfowl Breeding Population and Habitat Survey for southern Manitoba during 1983. The primary purpose of the survey is to provide...

  12. Western Ontario: Waterfowl breeding population survey: 1998

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This report summarizes the Waterfowl Breeding Population and Habitat Survey for western Ontario during 1998. The primary purpose of the survey is to provide...

  13. Waterfowl breeding population survey: Southern Saskatchewan: 1979

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This report summarizes the Waterfowl Breeding Population and Habitat Survey for southern Saskatchewan during 1979. The primary purpose of the survey is to provide...

  14. For Refugee Children, Support Breeds Success

    Science.gov (United States)

    ... nih.gov/medlineplus/news/fullstory_159196.html For Refugee Children, Support Breeds Success Study sees 'potential to ... June 3, 2016 (HealthDay News) -- With adequate support, refugee children do as well in school as other ...

  15. Manual on mutation breeding. 2. ed.

    International Nuclear Information System (INIS)

    The manual is a compilation of work done on the use of induced mutations in plant breeding, and presents general methods and techniques in this field. The use of chemical mutagens and ionizing radiations (X-rays, gamma rays, α- and β-particles, protons, neutrons) are described as well as the effects of these mutagens. The different types of mutations achieved can be divided into genome mutations, chromosome mutations and extra nuclear mutations. Separate chapters deal with mutation techniques in breeding seed-propagated species and asexually propagated plants (examples of development of cultivars given). Plant characters which can be improved by mutation breeding include yield, ripening time, growth habit, disease resistance and tolerance to environmental factors (temperature, salinity etc.). The use of mutagens for some specific plant breeding problems is discussed and attention is also paid to somatic cell genetics in connection with induced mutations. The manual contains a comprehensive bibliography (60 p. references) and a subject index

  16. California Least Tern Breeding Survey 1995 Season

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — Sterna antillarum browni) nested at 37 sites along the coast of California. This 7% decrease in breeding population size from 1994 brings to an end the trend since...

  17. Equine post-breeding endometritis: A review

    Science.gov (United States)

    2008-01-01

    The deposition of semen, bacteria and debris in the uterus of the mare after breeding normally induces a self-limiting endometritis. The resultant fluid and inflammatory products are cleared by 48 hours post cover. Mares that are susceptible to persistent post-breeding endometritis (PPBEM) have impaired uterine defence and clearance mechanisms, making them unable to resolve this inflammation within the normal time. This persists beyond 48 hours post-breeding and causes persistent fluid accumulation within the uterus. Mares with PPBEM have an increased rate of embryonic loss and a lower overall pregnancy rate than those without the condition. To enhance conception rates, mares at high risk need optimal breeding management as well as early diagnosis, followed by the most appropriate treatment. This article reviews the pathogenesis, diagnosis and treatment of PPBEM and the management of affected mares. PMID:21851709

  18. Equine post-breeding endometritis: A review

    Directory of Open Access Journals (Sweden)

    Maischberger E

    2008-03-01

    Full Text Available Abstract The deposition of semen, bacteria and debris in the uterus of the mare after breeding normally induces a self-limiting endometritis. The resultant fluid and inflammatory products are cleared by 48 hours post cover. Mares that are susceptible to persistent post-breeding endometritis (PPBEM have impaired uterine defence and clearance mechanisms, making them unable to resolve this inflammation within the normal time. This persists beyond 48 hours post-breeding and causes persistent fluid accumulation within the uterus. Mares with PPBEM have an increased rate of embryonic loss and a lower overall pregnancy rate than those without the condition. To enhance conception rates, mares at high risk need optimal breeding management as well as early diagnosis, followed by the most appropriate treatment. This article reviews the pathogenesis, diagnosis and treatment of PPBEM and the management of affected mares.

  19. Long memory in the Croatian and Hungarian stock market returns

    Directory of Open Access Journals (Sweden)

    Silvo Dajčman

    2012-06-01

    Full Text Available The objective of this paper is to analyze and compare the fractal structure of the Croatian and Hungarian stock market returns. The presence of long memory components in asset returns provides evidence against the weak-form of stock market efficiency. The starting working hypothesis that there is no long memory in the Croatian and Hungarian stock market returns is tested by applying the Kwiatkowski-Phillips-Schmidt-Shin (KPSS (1992 test, Lo’s (1991 modified rescaled range (R/S test, and the wavelet ordinary least squares (WOLS estimator of Jensen (1999. The research showed that the WOLS estimator may lead to different conclusions regarding long memory presence in the stock returns from the KPSS and unit root tests or Lo’s R/S test. Furthermore, it proved that the fractal structure of individual stock returns may be masked in aggregated stock market returns (i.e. in returns of stock index. The main finding of the paper is that both the Croatian stock index Crobex and individual stocks in this index exhibit long memory. Long memory is identified for some stocks in the Hungarian stock market as well, but not for the stock market index BUX. Based on the results of the long memory tests, it can be concluded that while the Hungarian stock market is weakform efficient, the Croatian stock market is not.

  20. Stock selection using support vector machine in Chinese securities exchange

    Institute of Scientific and Technical Information of China (English)

    TIAN Bo-ping; GONG Qi; YANG Yu-shu; SHANG Zhi-hui; FENG Ying-jun

    2007-01-01

    The risk and performance of ST stocks are studied. The SVM method is applied on 100 general stocks and 100 ST stocks selected from the website, and a criterion is gotten to select stocks, then the risk of these sample stocks is analysed. In the performance evaluation, the SVM method is also applied on the 100 general stocks and 100 ST stocks according to the return per share, and 57 stocks which are all + 1 are selected. Their equally weighted return rate is only -0.02%, but equally weighted return rate of 31 general stocks is 13.23%, that of 26 ST stocks is -96.15%. Naturally, we conclude that ST stocks are unsteady and do not deserve long-term investment. From the Chinese fund website, we know that equally weighted return rate of stock fund in 2004 was -3.3%, so the equally weighted return rate of the selected stocks (except ST stocks)is much higher than that of average return rate.

  1. Citrus breeding, genetics and genomics in Japan

    OpenAIRE

    Omura, Mitsuo; Shimada, Takehiko

    2016-01-01

    Citrus is one of the most cultivated fruits in the world, and satsuma mandarin (Citrus unshiu Marc.) is a major cultivated citrus in Japan. Many excellent cultivars derived from satsuma mandarin have been released through the improvement of mandarins using a conventional breeding method. The citrus breeding program is a lengthy process owing to the long juvenility, and it is predicted that marker-assisted selection (MAS) will overcome the obstacle and improve the efficiency of conventional br...

  2. Breeding for genetic resistance to disease

    OpenAIRE

    Pinard-van der Laan, Marie-Helene

    2012-01-01

    Animal health issues are of increasing importance to all animal breeding sectors, including poultry, by raising health and welfare issues and causing major production costs, but also to citizens, by affecting possibly their own health and lifestyle choices. So far, traditional selective breeding approaches have been applied successfully by poultry breeders to enhance production and reproduction traits; but the inclusion of animal health related traits are scarcely considered because of a clea...

  3. Inventory analysis of West African cattle breeds

    International Nuclear Information System (INIS)

    The improvement of livestock productivity and the preservation of their genetic diversity to allow breeders to select animals adapted to environmental changes, diseases and social needs, require a detailed inventory and genetic characterization of domesticated animal breeds. Indeed, in developing countries, the notion of breed is not clearly defined, as visual traits are often used and characterization procedures are often subjective. So it is necessary to upgrade the phenotypic approach using genetic information. At CIRDES, a regional centre for subhumid livestock research and development, such studies have been conducted. This paper focuses on cattle breed inventory in seven countries of West Africa as a tool for genetic research on cattle improvement. Data collection was done using a bibliographical study, complemented by in situ investigations. According to phenotypic description and concepts used by indigenous livestock keepers, 13 local cattle breeds were recognized: N'dama, Kouri, the Baoule-Somba group, the Lagoon cattle group, zebu Azawak, zebu Maure, zebu Touareg, zebu Goudali, zebu Bororo, zebu White Fulani, zebu Djelli, zebu Peuhl soudanien and zebu Gobra (Toronke). Nine exotic breeds, (American Brahman, Gir, Girolando, Droughtmaster, Santa Gertrudis, Holstein, Montbeliarde, Jersey and Brown Swiss) and five typical cross-breeds (Holstein x Goudali; Montbeliarde x Goudali; Holstein x Azawak; Brown Swiss x Azawak; and Brown Swiss x zebu peuhl soudanien) were also found. From this initial investigation, the areas of heavy concentration of herds and the most important breeds were described. The review has also indicated the necessity for a balance between improving livestock productivity and the conservation of trypanotolerant breeds at risk of extinction in West Africa. (author)

  4. Hybrid reactors: nuclear breeding or energy production?

    OpenAIRE

    Piera, Mireia; Lafuente Mazuecos, Antonio; Abánades Velasco, Alberto; Martínez-Val Peñalosa, Jose Maria

    2010-01-01

    After reviewing the long-standing tradition on hybrid research, an assessment model is presented in order to characterize the hybrid performance under different objectives. In hybrids, neutron multiplication in the subcritical blanket plays a major role, not only for energy production and nuclear breeding, but also for tritium breeding, which is fundamental requirement in fusion–fission hybrids. All three objectives are better achieved with high values of the neutron multiplication factor (k-...

  5. Briefing note on animal breeding and genetics

    OpenAIRE

    Bruce, Ann

    2012-01-01

    Historically, adoption of breeding technologies by sheep and beef farmers has been slow and variable. This research aimed to understand why, and if the context of reducing methane emissions was likely to change adoption rates. Sheep and beef farmers around the UK were interviewed to find out if they would adopt a range of technologies to reduce methane emissions.* The farmers interviewed were less than convinced that breeding could be effective in reducing greenhouse gas emissions.

  6. [Pain caused by breeding: definition, judgment, pathogenesis].

    Science.gov (United States)

    Herzog, A

    1997-02-01

    Special terms of the "German Animal Protection Law (section 11b)"and the "European Agreement for Protection of Domestic Animals" particularly "torture-breeding, genetic characteristics, well-being, soundness, pains, injuries and specific use" are commented. Examples of torture-breedings are discussed: Dog (Merle-faktor, brachycephalie, atrichosis), cat (Mans-factor, W-gene, folded-ears), birds (tuffs, ear-drops, tailesness, hypertrophy of bill-warts, abnormal position of tarsal-joints, hypertrophy of imposing behavior).

  7. Asymmetric Conditional Volatility in International Stock Markets

    CERN Document Server

    Ferreira, N B; Menezes, R; Ferreira, Nuno B.; Mendes, Diana A.; Menezes, Rui

    2006-01-01

    Recent studies show that a negative shock in stock prices will generate more volatility than a positive shock of similar magnitude. The aim of this paper is to appraise the hypothesis under which the conditional mean and the conditional variance of stock returns are asymmetric functions of past information. We compare the results for the Portuguese Stock Market Index PSI 20 with six other Stock Market Indices, namely the S&P 500, FTSE100, DAX 30, CAC 40, ASE 20, and IBEX 35. In order to assess asymmetric volatility we use autoregressive conditional heteroskedasticity specifications known as TARCH and EGARCH. We also test for asymmetry after controlling for the effect of macroeconomic factors on stock market returns using TAR and M-TAR specifications within a VAR framework. Our results show that the conditional variance is an asymmetric function of past innovations raising proportionately more during market declines, a phenomenon known as the leverage effect. However, when we control for the effect of chan...

  8. STOCK TREND PREDICTION USING NEWS SENTIMENT ANALYSIS

    Directory of Open Access Journals (Sweden)

    Kalyani Joshi

    2016-06-01

    Full Text Available Efficient Market Hypothesis is the popular theory about stock prediction. With its failure much research has been carried in the area of prediction of stocks. This project is about taking non quantifiable data such as financial news articles about a company and predicting its future stock trend with news sentiment classification. Assuming that news articles have impact on stock market, this is an attempt to study relationship between news and stock trend. To show this, we created three different classification models which depict polarity of news articles being positive or negative. Observations show that RF and SVM perform well in all types of testing. Naïve Bayes gives good result but not compared to the other two. Experiments are conducted to evaluate various aspects of the proposed model and encouraging results are obtained in all of the experiments. The accuracy of the prediction model is more than 80% and in comparison with news random labelling with 50% of accuracy; the model has increased the accuracy by 30%.

  9. Using the Stock Market to Teach Physics

    Science.gov (United States)

    Faux, David A.; Hearn, Stephen

    2004-11-01

    Students are interested in money. Personal finance is an important issue for most students, especially as they move into university education and take a greater control of their own finances. Many are also interested in stock markets and their ability to allow someone to make, and lose, large sums of money, with their interest fueled by the boom in technology-based stocks of 2000/2001 followed by their subsequent dramatic collapse and the publicizing of so-called "rogue-traders." There is also a much greater ownership of stocks by families following public offerings, stock-based savings products, and the ability to trade stocks online. Consequently, there has been a steady growth of finance and finance-related courses available within degree programs in response to the student demand, with many students motivated by the huge salaries commanded by those with a successful career in the financial sector. We report here details of a joint project between Charterhouse School and the University of Surrey designed to exploit the excitement of finance to teach elements of the high school (age 16-18) curriculum through modeling and simulation.

  10. Spillovers among regional and international stock markets

    Science.gov (United States)

    Huen, Tan Bee; Arsad, Zainudin; Chun, Ooi Po

    2014-07-01

    Realizing the greater risk by the increase in the level of financial market integration, this study investigates the dynamic of international and regional stock markets co-movement among Asian countries with the world leading market, the US. The data utilized in this study comprises of weekly closing prices for four stock indices, that consists of two developing markets (Malaysia and China) and two developed markets (Japan and the US), and encompasses the period from January 1996 to December 2012. Multivariate Generalized Autoregressive Conditional Heteroscedasticity (MGARCH) model with the BEKK parameterization is employed to investigate the mean and volatility spillover effects among the selected stock indices. The results show significant mean spillover not only from the larger developed markets to smaller developing markets but also from the smaller developing markets to larger developed markets. Volatility spillover between the developed markets is found to be smaller than that between the developing markets. Conditional correlations among the stock markets are found to increase over the sample period. The findings of significant mean and volatility spillovers are considered as bad news for international investors as it reduces the benefit from portfolio diversification but act as useful information for investors to be more aware in diversifying their investment or stock selection.

  11. Changing recruitment capacity in global fish stocks.

    Science.gov (United States)

    Britten, Gregory L; Dowd, Michael; Worm, Boris

    2016-01-01

    Marine fish and invertebrates are shifting their regional and global distributions in response to climate change, but it is unclear whether their productivity is being affected as well. Here we tested for time-varying trends in biological productivity parameters across 262 fish stocks of 127 species in 39 large marine ecosystems and high-seas areas (hereafter LMEs). This global meta-analysis revealed widespread changes in the relationship between spawning stock size and the production of juvenile offspring (recruitment), suggesting fundamental biological change in fish stock productivity at early life stages. Across regions, we estimate that average recruitment capacity has declined at a rate approximately equal to 3% of the historical maximum per decade. However, we observed large variability among stocks and regions; for example, highly negative trends in the North Atlantic contrast with more neutral patterns in the North Pacific. The extent of biological change in each LME was significantly related to observed changes in phytoplankton chlorophyll concentration and the intensity of historical overfishing in that ecosystem. We conclude that both environmental changes and chronic overfishing have already affected the productive capacity of many stocks at the recruitment stage of the life cycle. These results provide a baseline for ecosystem-based fisheries management and may help adjust expectations for future food production from the oceans. PMID:26668368

  12. Influence network in the Chinese stock market

    Science.gov (United States)

    Gao, Ya-Chun; Zeng, Yong; Cai, Shi-Min

    2015-03-01

    In a stock market, the price fluctuations are interactive, that is, one listed company can influence others. In this paper, we seek to study the influence relationships among listed companies by constructing a directed network on the basis of the Chinese stock market. This influence network shows distinct topological properties. In particular, a few large companies that can lead the tendency of the stock market are recognized. Furthermore, by analyzing the subnetworks of listed companies distributed in several significant economic sectors, it is found that the influence relationships are totally different from one economic sector to another, of which three types of connectivity as well as hub-like listed companies are identified. In addition, the rankings of listed companies obtained from the centrality metrics of the influence network are compared with those according to the assets, which gives inspiration to uncover and understand the importance of listed companies on the stock market. These empirical results are meaningful in providing these topological properties of the Chinese stock market and economic sectors as well as revealing the interactive influence relationships among listed companies.

  13. Prunus transcription factors: Breeding perspectives

    Directory of Open Access Journals (Sweden)

    Valmor João Bianchi

    2015-06-01

    Full Text Available Many plant processes depend on differential gene expression, which is generally controlled by complex proteins called transcription factors (TFs. In peach, 1,533 TFs have been identified, accounting for about 5.5% of the 27,852 protein-coding genes. These TFs are the reference for the rest of the Prunus species. TF studies in Prunus have been performed on the gene expression analysis of different agronomic traits, including control of the flowering process, fruit quality, and biotic and abiotic stress resistance. These studies, using quantitative RT-PCR, have mainly been performed in peach, and to a lesser extent in other species, including almond, apricot, black cherry, Fuji cherry, Japanese apricot, plum, and sour and sweet cherry. Other tools have also been used in TF studies, including cDNA-AFLP, LC-ESI-MS, RNA and DNA blotting or mapping. More recently, new tools assayed include microarray and high-throughput DNA sequencing (DNA-Seq and RNA sequencing (RNA-Seq. New functional genomics opportunities include genome resequencing and the well-known synteny among Prunus genomes and transcriptomes. These new functional studies should be applied in breeding programs in the development of molecular markers. With the genome sequences available, some strategies that have been used in model systems (such as SNP genotyping assays and genotyping-by-sequencing may be applicable in the functional analysis of Prunus TFs as well. In addition, the knowledge of the gene functions and position in the peach reference genome of the TFs represents an additional advantage. These facts could greatly facilitate the isolation of genes via QTL (quantitative trait loci map-based cloning in the different Prunus species, following the association of these TFs with the identified QTLs using the peach reference genome.

  14. Neutronic Comparison of Tritium-Breeding Performance of Candidate Tritium-Breeding Materials

    Institute of Scientific and Technical Information of China (English)

    郑善良; 吴宜灿

    2003-01-01

    Tritium self-sustainment, which will meet the fuel requirement of fusion reactor, isone of the key issues of fusion power development. The tritium breeding performances of varioustritium-breeding materials are compared based on a series of neutronics calculations using three-dimensional Monte Carlo neutron-photon transport code MCNP/4C with the IAEA FENDL-2data library. The effects of the dimensions of the tritium-breeding zone and the enrichment of 6Lion Tritium Breeding Ratio (TBR) are analyzed. The effects of Be as a neutron multiplier on TBRare also calculated.

  15. Skeletal muscle transcriptional profiles in two Italian beef breeds, Chianina and Maremmana, reveal breed specific variation.

    Science.gov (United States)

    Bongiorni, S; Gruber, C E M; Chillemi, G; Bueno, S; Failla, S; Moioli, B; Ferrè, F; Valentini, A

    2016-04-01

    Chianina and Maremmana breeds play an important role in the Italian cattle meat market. The Chianina breed is an ancient breed principally raised for draught. Now this breed is the worldwide recognized producer of top quality beef, tasteful and tender, specifically the famous "Florentine steak". The Maremmana characterized by a massive skeletal structure, is a rustic cattle breed selected for adaptability to the marshy land of the Maremma region. We used a high throughput mRNA sequencing to analyze gene expression in muscle tissues of two Italian cattle breeds, Maremmana (MM) and Chianina (CN) with different selection history. We aim to examine the specific genetic contribution of each breed to meat production and quality, comparing the skeletal muscle tissue from Maremmana and Chianina. Most of the differentially expressed genes were grouped in the Glycolysis/Gluconeogenesis pathways. The rate and the extent of post-mortem energy metabolism have a critical effect on the conversion of muscle to meat. Furthermore, we aim at discovering the differences in nucleotide variation between the two breeds which might be attributable to the different history of selection/divergence. In this work we could emphasize the involvement of pathways of post-mortem energy metabolism. Moreover, we detected a collection of coding SNPs which could offer new genomic resources to improve phenotypic selection in livestock breeding program. PMID:26896938

  16. Citrus breeding, genetics and genomics in Japan.

    Science.gov (United States)

    Omura, Mitsuo; Shimada, Takehiko

    2016-01-01

    Citrus is one of the most cultivated fruits in the world, and satsuma mandarin (Citrus unshiu Marc.) is a major cultivated citrus in Japan. Many excellent cultivars derived from satsuma mandarin have been released through the improvement of mandarins using a conventional breeding method. The citrus breeding program is a lengthy process owing to the long juvenility, and it is predicted that marker-assisted selection (MAS) will overcome the obstacle and improve the efficiency of conventional breeding methods. To promote citrus molecular breeding in Japan, a genetic mapping was initiated in 1987, and the experimental tools and resources necessary for citrus functional genomics have been developed in relation to the physiological analysis of satsuma mandarin. In this paper, we review the progress of citrus breeding and genome researches in Japan and report the studies on genetic mapping, expression sequence tag cataloguing, and molecular characterization of breeding characteristics, mainly in terms of the metabolism of bio-functional substances as well as factors relating to, for example, fruit quality, disease resistance, polyembryony, and flowering.

  17. Testicular Histomorphometric Evaluation of Zebu Bull Breeds

    Directory of Open Access Journals (Sweden)

    Paulo Antônio Terrabuio Andreussi

    2014-12-01

    Full Text Available The objective of this study was to evaluate the quantitative histology and testicular biometrics in zebu bulls of different breeds. Testicular fragments of Nelore (n=10, Polled Nelore (n=6, Gir (n=5, Guzerat (n=5 and Tabapuã bulls (n=5 were used. The fragments were perfusion-fixed in Karnovsky solution, embedded in glycol methacrylate and stained with toluidine blue-1% sodium borate. The Nelore animals had a higher tubular volumetric proportion (85.2% and greater height of the seminiferous epithelium (73.2 µm than the Gir, Guzerat and Tabapuã breeds. The Nelore animals also had a higher volumetric proportion of Leydig cells (5.2% than the Guzerat and Tabapuã breeds. There was no significant difference for any of these parameters between the Nelore and Polled Nelore breeds. The gonadosomatic index, seminiferous tubule diameter, cross-sectional area of the seminiferous tubule and tubule length (total length and length per gram of testicular parenchyma did not vary among the breeds studied. The morphometric parameters evaluated suggested that the genetic selection applied to the Nelore and Polled Nelore breeds improved the efficiency of spermatogenesis in these breeders.

  18. Citrus breeding, genetics and genomics in Japan.

    Science.gov (United States)

    Omura, Mitsuo; Shimada, Takehiko

    2016-01-01

    Citrus is one of the most cultivated fruits in the world, and satsuma mandarin (Citrus unshiu Marc.) is a major cultivated citrus in Japan. Many excellent cultivars derived from satsuma mandarin have been released through the improvement of mandarins using a conventional breeding method. The citrus breeding program is a lengthy process owing to the long juvenility, and it is predicted that marker-assisted selection (MAS) will overcome the obstacle and improve the efficiency of conventional breeding methods. To promote citrus molecular breeding in Japan, a genetic mapping was initiated in 1987, and the experimental tools and resources necessary for citrus functional genomics have been developed in relation to the physiological analysis of satsuma mandarin. In this paper, we review the progress of citrus breeding and genome researches in Japan and report the studies on genetic mapping, expression sequence tag cataloguing, and molecular characterization of breeding characteristics, mainly in terms of the metabolism of bio-functional substances as well as factors relating to, for example, fruit quality, disease resistance, polyembryony, and flowering. PMID:27069387

  19. Preliminary evidence of differences in cadmium tolerance in metal-free stocks of the standard earthworm test species Eisenia andrei (Oligochaeta).

    Science.gov (United States)

    Otomo, Patricks Voua; Otomo, Laetitia Voua; Bezuidenhout, Carlos C; Maboeta, Mark S

    2016-08-01

    To test whether metal-tolerant and metal-sensitive earthworm specimens could be an inherent part of metal-free earthworm populations, (i) we used DNA barcoding to identify and categorize earthworms from 8 populations of the standard test species Eisenia andrei, and (ii) the earthworms carrying three of the identified COI haplotypes (named Hap1, hap3 and Hap3) were paired up and exposed to Cd in order to assess the difference in Cd sensitivity between the breeding pairs. A total of six breeding pairs were exposed to 0, 25, 50 and 100 mg Cd/kg for 4 weeks at 20 °C. The survival of the breeding pairs, their change in biomass and cocoon production were assessed. For all of the endpoints assessed, the results indicated that couple 6 (Hap3 × Hap3) was the most sensitive breeding pair whereas couple 4 (Hap1 × Hap3) was the least sensitive one. The analysis of Cd tissue contents revealed that with increasing Cd concentration, Cp6 (Hap3 × Hap3) could accumulate significantly more Cd than any other breeding pair (p ≤ 0.01). Our findings indicate that E. andrei may harbour intrinsically Cd-tolerant and Cd-sensitive individuals and that this may be due to individual differences in Cd accumulation kinetics. In the context of ecotoxicological testing, our results underline the importance of using genetically diverse populations in laboratory testing to prevent generating flawed data from genetically homogeneous laboratory stocks. Although we do not regard the present mitochondrial haplotypes as proxy for possibly nuclear encoded traits, we discuss the necessity of a standardised earthworm barcoding protocol that could help not only to confirm the taxonomy of laboratory earthworm stocks but also to select genetically diverse stocks suitable for laboratory testing. PMID:27151404

  20. Optimization Stock Portfolio With Mean-Variance and Linear Programming: Case In Indonesia Stock Market

    Directory of Open Access Journals (Sweden)

    Yen Sun

    2010-05-01

    Full Text Available It is observed that the number of Indonesia’s domestic investor who involved in the stock exchange is very less compare to its total number of population (only about 0.1%. As a result, Indonesia Stock Exchange (IDX is highly affected by foreign investor that can threat the economy. Domestic investor tends to invest in risk-free asset such as deposit in the bank since they are not familiar yet with the stock market and anxious about the risk (risk-averse type of investor. Therefore, it is important to educate domestic investor to involve in the stock exchange. Investing in portfolio of stock is one of the best choices for risk-averse investor (such as Indonesia domestic investor since it offers lower risk for a given level of return. This paper studies the optimization of Indonesian stock portfolio. The data is the historical return of 10 stocks of LQ 45 for 5 time series (January 2004 – December 2008. It will be focus on selecting stocks into a portfolio, setting 10 of stock portfolios using mean variance method combining with the linear programming (solver. Furthermore, based on Efficient Frontier concept and Sharpe measurement, there will be one stock portfolio picked as an optimum Portfolio (Namely Portfolio G. Then, Performance of portfolio G will be evaluated by using Sharpe, Treynor and Jensen Measurement to show whether the return of Portfolio G exceeds the market return. This paper also illustrates how the stock composition of the Optimum Portfolio (G succeeds to predict the portfolio return in the future (5th January – 3rd April 2009. The result of the study observed that optimization portfolio using Mean-Variance (consistent with Markowitz theory combine with linear programming can be applied into Indonesia stock’s portfolio. All the measurements (Sharpe, Jensen, and Treynor show that the portfolio G is a superior portfolio. It is also been found that the composition (weights stocks of optimum portfolio (G can be used to

  1. Effects of Stocking Density or Group Size on Intake, Growth, and Meat Quality of Hanwoo Steers (Bos taurus coreanae).

    Science.gov (United States)

    Lee, Sang Moo; Kim, Jae Yeon; Kim, Eun Joong

    2012-11-01

    This study was conducted to investigate the effects of stocking density or group size on feed intake, daily gain, and carcass characteristics of Hanwoo (Korean indigenous breed) steers reared from 7 months to 31 months of age. Thirty Hanwoo steers were divided into four groups with three replicates each (a total of 12 pens). In each group, one (G1), two (G2), three (G3), and four steers (G4) per pen were allocated as treatments. Pen size was 32.0 m(2), and therefore Hanwoo steers in G1, G2, G3, and G4 were reared under different space allowances, i.e. 32.0, 16.0, 10.6, and 8.0 m(2)/steer, respectively. Steers were reared following a conventional beef cattle management method in Korea, and were offered a fixed amount of commercial concentrate with ad libitum forages. Results were subjected to analysis of variance with stocking density as the main effect, and significance was declared at pmeat yield index, and meat yield grade were similar among all levels of stocking density. However, longissimus muscle area was larger in G1 and G2 (pquality traits, including marbling score, meat color, fat color, texture, maturity and meat quality grade, as determined by a group of experts, were not significantly different among the treatments. In conclusion, lower stocking density resulted in increased feed efficiency, daily gain, and carcass weight in Hanwoo steers. However it remains unclear whether such differences are the results of stocking density or group size, or a combination of both. Nonetheless, these results confirm previous studies reporting a negative effect of increased stocking density on animal productivity. Further, animal welfare under an intensive farming system in relation to economical return is discussed. PMID:25049516

  2. 50 CFR 15.24 - Permits for cooperative breeding.

    Science.gov (United States)

    2010-10-01

    ... 50 Wildlife and Fisheries 1 2010-10-01 2010-10-01 false Permits for cooperative breeding. 15.24... PLANTS WILD BIRD CONSERVATION ACT Permits and Approval of Cooperative Breeding Programs § 15.24 Permits for cooperative breeding. (a) Application requirements for permits for cooperative breeding....

  3. THE MARKET REACTION TO STOCK SPLITS — EVIDENCE FROM INDIA

    OpenAIRE

    Mishra, A. K.

    2007-01-01

    Stock splits are a relatively new phenomenon in the Indian context. This paper examines the market effect of stock splits on stock price, return, volatility, and trading volume around the split ex-dates for a sample of stock splits undertaken in the Indian stock market over the period 1999–2005.The traditional view of stock splits as cosmetic transactions that simply divide the same pie into more slices is inconsistent with the significant wealth effect associated with the announcement of a s...

  4. Specifications and Quality of Lube Oil Base Stocks in China

    Institute of Scientific and Technical Information of China (English)

    Wang Ping

    2004-01-01

    The Chinese standard Q/SHR001-95 for base stocks is compared with the API specifications. The viscosity-temperature characteristics of base stock required by lube oil in use and market demand on oil quality are analyzed. The quality indicators of base stocks in China and other countries are compared. A new classification of base stocks in response to the requirements of modem lube oil is proposed and the research on new technology to produce premium base stocks meeting API specification is recommended on the basis of current base stock processing technology.

  5. The Geometric Phase of Stock Trading.

    Science.gov (United States)

    Altafini, Claudio

    2016-01-01

    Geometric phases describe how in a continuous-time dynamical system the displacement of a variable (called phase variable) can be related to other variables (shape variables) undergoing a cyclic motion, according to an area rule. The aim of this paper is to show that geometric phases can exist also for discrete-time systems, and even when the cycles in shape space have zero area. A context in which this principle can be applied is stock trading. A zero-area cycle in shape space represents the type of trading operations normally carried out by high-frequency traders (entering and exiting a position on a fast time-scale), while the phase variable represents the cash balance of a trader. Under the assumption that trading impacts stock prices, even zero-area cyclic trading operations can induce geometric phases, i.e., profits or losses, without affecting the stock quote. PMID:27556642

  6. USING SENTIMENT ANALYSIS FOR STOCK EXCHANGE PREDICTION

    Directory of Open Access Journals (Sweden)

    Milson L. Lima

    2016-01-01

    Full Text Available The economic growth is a consensus in any country. To grow economically, it is necessary to channel the revenues for investment. One way of raising is the capital market and the stock exchanges. In this context, predicting the behavior of shares in the stock exchange is not a simple task, as itinvolves variables not always known and can undergo various influences, from the collective emotion to high-profile news. Such volatility can represent considerable financial losses for investors. In order to anticipate such changes in the market, it has been proposed various mechanisms trying to predict the behavior of an asset in the stock market, based on previously existing information. Such mechanisms include statistical data only, without considering the collective feeling. This paper is going to use natural language processing algorithms (LPN to determine the collective mood on assets and later with the help of the SVM algorithm to extract patterns in an attempt to predict the active behaviour.

  7. The Geometric Phase of Stock Trading.

    Science.gov (United States)

    Altafini, Claudio

    2016-01-01

    Geometric phases describe how in a continuous-time dynamical system the displacement of a variable (called phase variable) can be related to other variables (shape variables) undergoing a cyclic motion, according to an area rule. The aim of this paper is to show that geometric phases can exist also for discrete-time systems, and even when the cycles in shape space have zero area. A context in which this principle can be applied is stock trading. A zero-area cycle in shape space represents the type of trading operations normally carried out by high-frequency traders (entering and exiting a position on a fast time-scale), while the phase variable represents the cash balance of a trader. Under the assumption that trading impacts stock prices, even zero-area cyclic trading operations can induce geometric phases, i.e., profits or losses, without affecting the stock quote.

  8. Participation Constraints in the Stock Market

    DEFF Research Database (Denmark)

    Andersen, Steffen; Meisner Nielsen, Kasper

    2011-01-01

    We use a natural experiment to investigate the impact of participation constraints on individuals' decisions to invest in the stock market. Unexpected inheritance due to sudden deaths results in exogenous variation in financial wealth, and allows us to examine whether fixed entry and ongoing...... participation costs cause non-participation. We have three key findings. First, windfall wealth has a positive effect on participation. Second, the majority of households do not react to sizeable windfalls by entering the stock market, but hold on to substantial safe assets—even over longer horizons. Third......, the majority of households inheriting stock holdings actively sell the entire portfolio. Overall, these findings suggest that participation by many individuals is unlikely to be constrained by financial participation costs....

  9. Stock vs. Bond Yields, and Demographic Fluctuations

    DEFF Research Database (Denmark)

    Gozluklu, Arie; Morin, Annaïg

    This paper analyzes the strong comovement between real stock and nominal bond yields at generational (low) frequencies. Life-cycle patterns in savings behavior in an overlapping generations model with cash-in-advance constraints explain this persistent comovement between financial yields. We argue...... that the slow-evolving time-series covariation due to changing population age structure accounts for the equilibrium relation between stock and bond markets. As a result, by exploiting the demographic information into distant future, the forecasting performance of evaluation models improves. Finally, using...... a cross-country panel, we document the cross-sectional variation of the demographic effect and explain the cross-country differences in comovement between stock and bond markets....

  10. Evolvement Complexity in an Artificial Stock Market

    Institute of Scientific and Technical Information of China (English)

    YANG Chun-Xia; ZHOU Tao; ZHOU Pei-Ling; LIU Jun; TANG Zi-Nan

    2005-01-01

    @@ An artificial stock market is established based on the multi-agent model.Each agent has a limited memory of the history of stock price, and will choose an action according to its memory and trading strategy.The trading strategy of each agent evolves ceaselessly as a result of a self-teaching mechanism.The simulation results exhibit that large events are frequent in the fluctuation of the stock price generated by the present model when compared with a normal process, and the price returns distribution is a L関y distribution in the central part followed by an approximately exponential truncation.In addition, by defining a variable to gauge the evolvement complexity of this system, we have found a phase cross-over from simple-phase to complex-phase along with the increase of the number of individuals, which may be a ubiquitous phenomenon in multifarious real-life systems.

  11. Optimal Investment Horizons for Stocks and Markets

    CERN Document Server

    Johansen, A

    2006-01-01

    The inverse statistics is the distribution of waiting times needed to achieve a predefined level of return obtained from (detrended) historic asset prices \\cite{optihori,gainloss}. Such a distribution typically goes through a maximum at a time coined the {\\em optimal investment horizon}, $\\tau^*_\\rho$, which defines the most likely waiting time for obtaining a given return $\\rho$. By considering equal positive and negative levels of return, we reported in \\cite{gainloss} on a quantitative gain/loss asymmetry most pronounced for short horizons. In the present paper, the inverse statistics for 2/3 of the individual stocks presently in the DJIA is investigated. We show that this gain/loss asymmetry established for the DJIA surprisingly is {\\em not} present in the time series of the individual stocks nor their average. This observation points towards some kind of collective movement of the stocks of the index (synchronization).

  12. THE STEEL EUROPEAN STOCK MARKET EFFICIENCY

    Directory of Open Access Journals (Sweden)

    Viorica CHIRILA

    2015-12-01

    Full Text Available Testing the hypothesis of informational efficiency is a permanent preoccupation of researchers because the theories and the models of modern finance are based on it. This paper presents the results obtained after testing the efficiency hypothesis, in the weak form, for the European stock market of the companies that belong to the economic steel sub-sector. Following the use of both linear and non-linear tests of autocorrelation of returns we can conclude that the European stock market in the economic steel sub-sector is inefficient from an informational point of view and the investors in these stocks may obtain better results than those of the European market in general.

  13. Statistical aspects of fish stock assessment

    DEFF Research Database (Denmark)

    Berg, Casper Willestofte

    for stock assessment by application of state-of-the-art statistical methodology. The main contributions are presented in the form of six research papers. The major part of the thesis deals with age-structured assessment models, which is the most common approach. Conversion from length to age distributions...... statistical aspects of fish stocks assessment, which includes topics such as time series analysis, generalized additive models (GAMs), and non-linear state-space/mixed models capable of handling missing data and a high number of latent states and parameters. The aim is to improve the existing methods...... in the catches is a necessary step in age-based stock assessment models. For this purpose, GAMs and continuation ratio logits are combined to model the probability of age as a smooth function of length and spatial coordinates, which constitutes an improvement over traditional methods based on area...

  14. Stocks of organic carbon in Estonian soils

    Directory of Open Access Journals (Sweden)

    Kõlli, Raimo

    2009-06-01

    Full Text Available The soil organic carbon (SOC stocks (Mg ha–1 ofautomorphic mineral (9 soil groups, hydromorphic mineral (7, and lowland organic soils (4 are given for the soil cover or solum layer as a whole and also for its epipedon (topsoil layer. The SOC stocks for forest, arable lands, and grasslands and for the entire Estonian soil cover were calculated on the basis of the mean SOC stock and distribution area of the respective soil type. In the Estonian soil cover (42 400 km2, a total of 593.8 ± 36.9 Tg of SOC is retained, with 64.9% (385.3 ± 27.5 Tg in the epipedon layer (O, H, and A horizons and 35.1% in the subsoil (B and E horizons. The pedo-ecological regularities of SOC retention in soils are analysed against the background of the Estonian soil ordination net.

  15. Quantifying Stock Return Distributions in Financial Markets.

    Science.gov (United States)

    Botta, Federico; Moat, Helen Susannah; Stanley, H Eugene; Preis, Tobias

    2015-01-01

    Being able to quantify the probability of large price changes in stock markets is of crucial importance in understanding financial crises that affect the lives of people worldwide. Large changes in stock market prices can arise abruptly, within a matter of minutes, or develop across much longer time scales. Here, we analyze a dataset comprising the stocks forming the Dow Jones Industrial Average at a second by second resolution in the period from January 2008 to July 2010 in order to quantify the distribution of changes in market prices at a range of time scales. We find that the tails of the distributions of logarithmic price changes, or returns, exhibit power law decays for time scales ranging from 300 seconds to 3600 seconds. For larger time scales, we find that the distributions tails exhibit exponential decay. Our findings may inform the development of models of market behavior across varying time scales. PMID:26327593

  16. Mean reversion in the US stock market

    Energy Technology Data Exchange (ETDEWEB)

    Serletis, Apostolos [Department of Economics, University of Calgary, Calgary, Alberta, T2N 1N4 (Canada)], E-mail: Serletis@ucalgary.ca; Rosenberg, Aryeh Adam [Department of Economics, University of Calgary, Calgary, Alberta, T2N 1N4 (Canada)

    2009-05-30

    This paper revisits the evidence for the weaker form of the efficient market hypothesis, building on recent work by Serletis and Shintani [Serletis A, Shintani M. No evidence of chaos but some evidence of dependence in the US stock market. Chaos, Solitons and Fractals 2003;17:449-54], Elder and Serletis [Elder J, Serletis A. On fractional integrating dynamics in the US stock market. Chaos, Solitons and Fractals 2007;34;777-81], Koustas et al. [Koustas Z, Lamarche J.-F, Serletis A. Threshold random walks in the US stock market. Chaos, Solitons and Fractals, forthcoming], Hinich and Serletis [Hinich M, Serletis A. Randomly modulated periodicity in the US stock market. Chaos, Solitons and Fractals, forthcoming], and Serletis et al. [Serletis A, Uritskaya OY, Uritsky VM. Detrended Fluctuation analysis of the US stock market. Int J Bifurc Chaos, forthcoming]. In doing so, we use daily data, over the period from 5 February 1971 to 1 December 2006 (a total of 9045 observations) on four US stock market indexes - the Dow Jones Industrial Average, the Standard and Poor's 500 Index, the NASDAQ Composite Index, and the NYSE Composite Index - and a new statistical physics approach - namely the 'detrending moving average (DMA)' technique, recently introduced by Alessio et al. [Alessio E, Carbone A, Castelli G, Frappietro V. Second-order moving average and scaling of stochastic time series. Euro Phys J B 2002;27;197-200.] and further developed by Carbone et al. [Carbone A, Castelli G, Stanley HE. Time dependent hurst exponent in financial time series. Physica A 2004;344;267-71, Carbone A, Castelli G, Stanley HE. Analysis of clusters formed by the moving average of a long-range correlated time series. Phys Rev E 2004;69;026105.]. The robustness of the results to the use of alternative testing methodologies is also investigated, by using Lo's [Lo AW. Long-term memory in stock market prices. Econometrica 1991;59:1279-313.] modified rescaled range analysis. We

  17. Efficient Market Hypothesis in European Stock Markets

    OpenAIRE

    Borges, Maria Rosa

    2008-01-01

    This paper reports the results of tests on the weak-form market efficiency applied to stock market indexes of France, Germany, UK, Greece, Portugal and Spain, from January 1993 to December 2007. We use a serial correlation test, a runs test, an augmented Dickey-Fuller test and the multiple variance ratio test proposed by Lo and MacKinlay (1988) for the hypothesis that the stock market index follows a random walk. The tests are performed using daily and monthly data for the whole period and fo...

  18. Toward a phase diagram for stocks

    Science.gov (United States)

    Ivanova, K.

    1999-08-01

    A display of the tentatively basic parameters of stocks, i.e. the daily closing price and the daily transaction volume is presented eliminating the time variable between them. The “phase diagram” looks like a triangular region similar to the two-phase region of traffic diagrams. The data is taken for two companies (SGP and OXHP) which present different long-range correlations in the closing price value as examined by the linearly Detrended Fluctuation Analysis (DFA) statistical method. Substructures are observed in the “phase diagram” as due to changes in management policy, e.g. stock splits.

  19. Are Economists More Likely to Hold Stocks?

    DEFF Research Database (Denmark)

    Christiansen, Charlotte; Joensen, Eyðfrið Juanna Schrøter; Rangvid, Jesper

    education, even when controlling for several background characteristics. We make use of a large register-based panel data set containing detailed information on the educational attainments and various financial and socioeconomic variables.We model the stock market participation decision by the probit model......A unique data set enables us to test the hypothesis that due to informational advantages economists are more likely to hold stocks than otherwise identical investors. Weconfirm that economists have a significantly higher probability of participating in the stockmarket than investors with any other...

  20. Mean reversion in the US stock market

    International Nuclear Information System (INIS)

    This paper revisits the evidence for the weaker form of the efficient market hypothesis, building on recent work by Serletis and Shintani [Serletis A, Shintani M. No evidence of chaos but some evidence of dependence in the US stock market. Chaos, Solitons and Fractals 2003;17:449-54], Elder and Serletis [Elder J, Serletis A. On fractional integrating dynamics in the US stock market. Chaos, Solitons and Fractals 2007;34;777-81], Koustas et al. [Koustas Z, Lamarche J.-F, Serletis A. Threshold random walks in the US stock market. Chaos, Solitons and Fractals, forthcoming], Hinich and Serletis [Hinich M, Serletis A. Randomly modulated periodicity in the US stock market. Chaos, Solitons and Fractals, forthcoming], and Serletis et al. [Serletis A, Uritskaya OY, Uritsky VM. Detrended Fluctuation analysis of the US stock market. Int J Bifurc Chaos, forthcoming]. In doing so, we use daily data, over the period from 5 February 1971 to 1 December 2006 (a total of 9045 observations) on four US stock market indexes - the Dow Jones Industrial Average, the Standard and Poor's 500 Index, the NASDAQ Composite Index, and the NYSE Composite Index - and a new statistical physics approach - namely the 'detrending moving average (DMA)' technique, recently introduced by Alessio et al. [Alessio E, Carbone A, Castelli G, Frappietro V. Second-order moving average and scaling of stochastic time series. Euro Phys J B 2002;27;197-200.] and further developed by Carbone et al. [Carbone A, Castelli G, Stanley HE. Time dependent hurst exponent in financial time series. Physica A 2004;344;267-71, Carbone A, Castelli G, Stanley HE. Analysis of clusters formed by the moving average of a long-range correlated time series. Phys Rev E 2004;69;026105.]. The robustness of the results to the use of alternative testing methodologies is also investigated, by using Lo's [Lo AW. Long-term memory in stock market prices. Econometrica 1991;59:1279-313.] modified rescaled range analysis. We conclude that US stock