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Low Returns (low + return)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	50%

Selected Abstracts

Culture-based fisheries in non-perennial reservoirs in Sri Lanka: production and relative performance of stocked species

FISHERIES MANAGEMENT & ECOLOGY, Issue 4 2005
W. M. H. K. WIJENAYAKE
Abstract, In Sri Lanka, there is a great potential for the development of culture-based fisheries because of the availability of around 12 000 non-perennial reservoirs in the dry zone (<187 cm annual rainfall) of the island. These reservoirs fill during the north-east monsoonal period in October to December and almost completely dry up during August to October. As these non-perennial reservoirs are highly productive, hatchery-reared fish fingerlings can be stocked to develop culture-based fisheries during the water retention period of 7,9 months. The present study was conducted in 32 non-perennial reservoirs in five administrative districts in Sri Lanka. These reservoirs were stocked with fingerlings of Indian (catla Catla catla Hamilton and rohu Labeo rohita Hamilton) and Chinese (bighead carp Aristichthys nobilis Richardson) major carps, common carp Cyprinus carpio L., genetically improved farmed tilapia (GIFT) strain of Nile tilapia, Oreochromis niloticus (L.) and post-larvae of giant freshwater prawn, Macrobrachium rosenbergii De Man, at three different species combinations and overall stocking densities (SD) ranging from 218 to 3902 fingerlings ha,1, during the 2002,2003 culture cycle. Of the 32 reservoirs stocked, reliable data on harvest were obtained from 25 reservoirs. Fish yield ranged from 53 to 1801 kg ha,1 and the yields of non-perennial reservoirs in southern region were significantly (P < 0.05) higher than those in the northern region. Naturally-recruited snakehead species contributed the catches in northern reservoirs. Fish yield was curvilinearly related to reservoir area (P < 0.05), and a negative second order relationship was evident between SD and yield (P < 0.05). Chlorophyll- a and fish yield exhibited a positive second order relationship (P < 0.01). Bighead carp yield impacted positively on the total yield (P < 0.05), whereas snakehead yield impact was negative. Bighead carp, common carp and rohu appear suitable for poly-culture in non-perennial reservoirs. GIFT strain O. niloticus had the lowest specific growth rate among stocked species and freshwater prawn had a low return. [source]

Social Contacts and Occupational Choice

ECONOMICA, Issue 305 2010
SAMUEL BENTOLILA
Social contacts help to find jobs, but not necessarily in the occupations where workers are most productive. Hence social contacts can generate mismatch between workers' occupational choices and their productive advantage. Accordingly, social networks can lead to low labour force quality, low returns to firms' investment and depressed aggregate productivity. We analyse surveys from both the US and Europe including information on job finding through contacts. Consistent with our predictions, contacts reduce unemployment duration by 1,3 months on average, but they are associated with wage discounts of at least 2.5%. We also find some evidence of negative externalities on aggregate productivity. [source]

Bioconversions of maize residues to value-added coproducts using yeast-like fungi,

FEMS YEAST RESEARCH, Issue 2 2003
Timothy D Leathers
Abstract Agricultural residues are abundant potential feedstocks for bioconversions to industrial fuels and chemicals. Every bushel of maize (approximately 25 kg) processed for sweeteners, oil, or ethanol generates nearly 7 kg of protein- and fiber-rich residues. Currently these materials are sold for very low returns as animal feed ingredients. Yeast-like fungi are promising biocatalysts for conversions of agricultural residues. Although corn fiber (pericarp) arabinoxylan is resistant to digestion by commercially available enzymes, a crude mixture of enzymes from the yeast-like fungus Aureobasidium partially saccharifies corn fiber without chemical pretreatment. Sugars derived from corn fiber can be converted to ethanol or other valuable products using a variety of naturally occurring or recombinant yeasts. Examples are presented of Pichia guilliermondii strains for the conversion of corn fiber hydrolysates to the alternative sweetener xylitol. Corn-based fuel ethanol production also generates enormous volumes of low-value stillage residues. These nutritionally rich materials are prospective substrates for numerous yeast fermentations. Strains of Aureobasidium and the red yeast Phaffia rhodozyma utilize stillage residues for production of the polysaccharide pullulan and the carotenoid astaxanthin, respectively. [source]

Pension Plan Funding and Stock Market Efficiency

THE JOURNAL OF FINANCE, Issue 2 2006
FRANCESCO FRANZONI
ABSTRACT The paper argues that the market significantly overvalues firms with severely underfunded pension plans. These companies earn lower stock returns than firms with healthier pension plans for at least 5 years after the first emergence of the underfunding. The low returns are not explained by risk, price momentum, earnings momentum, or accruals. Further, the evidence suggests that investors do not anticipate the impact of the pension liability on future earnings, and they are surprised when the negative implications of underfunding ultimately materialize. Finally, underfunded firms have poor operating performance, and they earn low returns, although they are value companies. [source]