New Markets (new + market)

Distribution by Scientific Domains
Distribution within Business, Economics, Finance and Accounting

Kinds of New Markets

  • germany new market

  • Selected Abstracts

    IAS Versus U.S. GAAP: Information Asymmetry,Based Evidence from Germany's New Market

    abstract Motivated by the debate about globally uniform accounting standards, this study investigates whether firms using U.S. generally accepted accounting principles (GAAP) vis-à-vis international accounting standards (IAS) exhibit differences in several proxies for information asymmetry. It exploits a unique setting in which the two sets of standards are put on a level playing field. Firms trading in Germany's New Market must choose between IAS and U.S. GAAP for financial reporting, but face the same regulatory environment otherwise. Thus, institutional factors such as listing requirements, market microstructure, and standards enforcement are held constant. In this setting, differences in the bid-ask spread and share turnover between IAS and U.S. GAAP firms are statistically insignificant and economically small. Subsequent analyses of analysts' forecast dispersion, initial public offering underpricing, and firms' standard choices corroborate these findings. Thus, at least for New Market firms, the choice between IAS and U.S. GAAP appears to be of little consequence for information asymmetry and market liquidity. These findings do not support widespread claims that U.S. GAAP produce financial statements of higher informational quality than IAS. [source]

    Compliance with the Disclosure Requirements of Germany's New Market: IAS Versus US GAAP

    Martin Glaum
    This research examines compliance with both International Accounting Standards (IAS) and United States Generally Accepted Accounting Principles (US GAAP) for companies listed on Germany's New Market. Based on a sample of 100 firms that apply IAS and 100 that apply US GAAP, we investigate the extent to which companies comply with IAS and US GAAP disclosure requirements in their year,2000 financial statements. Compliance levels range from 100% to 41.6%, with an average of 83.7%. The average compliance level is significantly lower for companies that apply IAS as compared to companies applying US GAAP. This study provides the first systematic evidence regarding the enforcement of US GAAP outside the US, and accordingly not subject to Securities Exchange Commission (SEC) review. The results unveil a considerable extent of non,compliance. The overall level of compliance with IAS and US GAAP disclosures is positively related to firms being audited by Big 5 auditing firms and to cross,listings on US exchanges. Compliance is also associated with references to the use of International Standards of Auditing (ISA) or US GAAS in the audit opinion. The findings add to the growing concerns regarding the lack of effective supervision in the German capital market. [source]

    Relative Efficiency of Price Discovery on an Established New Market and the Main Board: Evidence from Korea

    Kyong Shik Eom
    G10; G14; G15 Abstract We examine the relative efficiency of price discovery between the new market (KOSDAQ) and the main board (KOSPI) in the Korean stock markets that have the same trading mechanism (i.e. electronic limit-order book), focusing on the comparisons of each market's efficiency of price discovery in three aspects: speed, degree, and accuracy. We find that, for our entire firm sample, price discovery on KOSDAQ is less efficient than on KOSPI. However, the price discovery of the most liquid group (top 40 stocks) on KOSDAQ turns out to be as efficient as the lowest group (top 160th,200th stocks) among the top 200 liquid stocks on KOSPI. These two quintiles are comparable in terms of their firm characteristics, so it appears that the greater overall efficiency of price discovery on KOSPI is due to the characteristics of its listed firms, rather than any inherent difference between a main board and a new market. We also find evidence that the speed of price discovery is mainly determined by turnover, whereas the accuracy of price discovery is mainly determined by turnover and intraday volatility. All together, our results provide some policy implications for developing or even developed countries eager to establish a viable new market. First, price discovery in a successful or viable new market in an emerging economy behaves as predicted in the market microstructure literature, even though that literature is based primarily on main boards in advanced stock markets. Second, price discovery in the most liquid group in a new market is more accurate, although slower, than in the lowest group among the liquid stocks on a main board; on balance, the main board and new market are comparable. Finally, the accuracy of price discovery is more (less) impacted by turnover (intraday volatility) on the new market than on the main board. [source]

    New markets, new opportunities? by NANCY BIRDSALL and CAROL GRAHAM (eds). (Washington, The Brookings Institution, 2000, pp.

    No abstract is available for this article. [source]

    The on-demand virtual advisory team: A new consulting paradigm?

    Rob Steir
    In a Virtual Advisory Program, an executive handpicks a team of outside experts for unbiased input on a strategic decision facing the business. The lowcost service offers rapid, just-in-time access to people who have "been there, done that," and lets the executive see them in action before embarking on a business relationship or full-time hire. With the assistance of a talent integrator/moderator, the CEO of a high-growth company tapped a VAP team with the right industry and functional experience to help him evaluate the pros and cons of entering a new market, and, in the process, overcame his aversion to using consultants. © 2007 Wiley Periodicals, Inc. [source]

    Success factors for the effective implementation of renewable energy options for rural electrification in India,Potentials of the CLEAN DEVELOPMENT MECHANISM

    Gudrun Elisabeth Benecke
    Abstract Developing countries as well as international development assistance have for a long time aspired to combat energy poverty in rural areas of developing countries. However, until now a major part of national and international public and private attempts to provide affordable and stable energy supply have failed due to various economic, political, social and institutional obstacles. This situation is reflected in case of India where in comparison with other South Asian states the status of rural electrification and of energy supply are in a dismal state despite the promotion of renewable energy and rural electrification as early as from the 1960s. Embedded in the global context of the international climate change regime, the Clean Development Mechanism (CDM) of the Kyoto Protocol has now emerged as a new option to facilitate investment in climate change mitigating projects. In this respect, promoting the deployment of renewable energy through this project-based mechanism opens new avenues for rural electrification. The main objective of this paper is, hence, to examine the context conditions and factors determining the effective application of renewable energy options for rural electrification in a developing country context, namely India. Understanding contextual requirements for renewable energy investment has proved imminently important in order to appreciate the potentials provided by new market-based mechanisms such as the CDM for rural poverty alleviation. Comparative political science case study research methods are applied to the analysis of CDM biomass projects in the context of the four Indian states of Tamil Nadu, Maharashtra, Punjab and Andhra Pradesh. This allows for the conclusion that socio-political and historic framework conditions matter for the implementation of new renewable energy options. Copyright © 2008 John Wiley & Sons, Ltd. [source]


    We examine the determinants of entry into Italian local banking markets during the period 1991,2002 and build a simple model in which the probability of branching in a new market depends on the features of both the local market and the potential entrant. Econometric findings show that banks are more likely to expand into those markets that are closest to their pre-entry locations. Large banks are also more able to cope with distance-related entry costs than small banks. Finally, banks have become increasingly able to open branches in distant markets, due to the advent of information and communication technologies. [source]

    Relative Efficiency of Price Discovery on an Established New Market and the Main Board: Evidence from Korea

    Kyong Shik Eom
    G10; G14; G15 Abstract We examine the relative efficiency of price discovery between the new market (KOSDAQ) and the main board (KOSPI) in the Korean stock markets that have the same trading mechanism (i.e. electronic limit-order book), focusing on the comparisons of each market's efficiency of price discovery in three aspects: speed, degree, and accuracy. We find that, for our entire firm sample, price discovery on KOSDAQ is less efficient than on KOSPI. However, the price discovery of the most liquid group (top 40 stocks) on KOSDAQ turns out to be as efficient as the lowest group (top 160th,200th stocks) among the top 200 liquid stocks on KOSPI. These two quintiles are comparable in terms of their firm characteristics, so it appears that the greater overall efficiency of price discovery on KOSPI is due to the characteristics of its listed firms, rather than any inherent difference between a main board and a new market. We also find evidence that the speed of price discovery is mainly determined by turnover, whereas the accuracy of price discovery is mainly determined by turnover and intraday volatility. All together, our results provide some policy implications for developing or even developed countries eager to establish a viable new market. First, price discovery in a successful or viable new market in an emerging economy behaves as predicted in the market microstructure literature, even though that literature is based primarily on main boards in advanced stock markets. Second, price discovery in the most liquid group in a new market is more accurate, although slower, than in the lowest group among the liquid stocks on a main board; on balance, the main board and new market are comparable. Finally, the accuracy of price discovery is more (less) impacted by turnover (intraday volatility) on the new market than on the main board. [source]

    Technology Entrepreneurs' Human Capital and Its Effects on Innovation Radicalness

    Matthew R. Marvel
    Radical innovations transform existing markets, create new markets, and stimulate economic growth. This study investigates how the experience, education, and prior knowledge of technology entrepreneurs relate to innovation radicalness. Findings from a sample of 145 technology entrepreneurs operating within university-affiliated incubators suggest that general and specific human capital are both vital to innovation outcomes. Innovation radicalness was positively associated with formal education and prior knowledge of technology, but negatively associated with prior knowledge of ways to serve markets. This suggests a counterintuitive conclusion,the less technology entrepreneurs know about ways to serve a market, the greater their chances of using technology knowledge to create breakthrough innovations within it. Finally, we discuss configurations of human capital that are likely to bestow unique advantages in the construction of radical innovations. [source]

    The Regulation of Media Markets in selected EU Accession States in Central and Eastern Europe

    EUROPEAN LAW JOURNAL, Issue 3 2003
    Alison Harcourt
    When formulating media laws in the early 1990s, these countries were presented with models put forth by advisors from the US and EU Member States. Advisors proposed models based upon their own domestic policy and/or organisation agendas. A resulting ,battle of the models' can be observed with different experts and actors lobbying for the adoption of contrasting regulatory models. Underlying this were often political, economic and trade interests. In particular, ,Western' governments were interested in guaranteeing the opening of new markets, and the stability of these new media markets for Western capital investment, as well as wider political concerns of consolidating democracy in Europe. Interest groups and NGOs wished to transfer their ideas to Eastern Europe often in advocacy of their own agendas in an enlarged Europe. [source]


    Alessandro Barbarino
    This article provides a microfoundation for the rise in optimism that seems to precede market crashes. Small, young markets are more likely to experience stock-price run-ups and crashes. We use a Zeira,Rob type of model in which demand size is uncertain. Optimism then grows rationally if traders' prior distribution over market size has a decreasing hazard. Such prior beliefs are appropriate if most new markets are duds and only a few reach a large size. The crash occurs when capacity outstrips demand. As an illustration, for the period 1971,2001 we fit the model to the Telecom sector. [source]

    The perspectives of energy production from coal-fired power plants in an enlarged EU

    P. Grammelis
    Abstract The aim of this paper is to present the current status of the coal-fired power sector in an enlarged EU (EU-15 plus EU member candidate states) in relation with the main topics of the European Strategy for the energy production and supply. It is estimated that 731 thermoelectric units, larger than 100 MWe, are operating nowadays, and their total installed capacity equals to 200.7 GWe. Coal contribution to the total electricity generation with reference to other fuel sources, is by far more intensive in the non-EU part (EU member candidate states), compared to the EU member states. It is expected that even after the enlargement, the European Union will strongly being related to coal. Enlargement will bring additional factors into play in order to meet the requirements of rising consumption, growing demand for conventional fuels and increasing dependence on imports. Besides the technology, boiler size, efficiency, age and environmental performance will determine the necessities of the coal-fired power sector in each country. Depending on the case, lifetime extension measures in operating coal-fired power plants or clean coal technologies can play an important role towards the energy sector restructuring. Low efficiency values in the non-EU coal-fired units and heavily aged power plants in EU countries will certainly affect decisions in favour of upgrading or reconstruction. The overall increase of efficiency, the reduction of harmful emissions from generating processes and the co-combustion of coal with biomass and wastes for generating purposes indicate that coal can be cleaner and more efficient. Additionally, plenty of rehabilitation projects based on CCT applications, have already been carried out or are under progress in the EU energy sector. The proclamations of the countries' energy policies in the coming decades, includes integrated renovation concepts of the coal-fired power sector. Further to the natural gas penetration in the electricity generation and CO2 sequestration and underground storage, the implementation of CCT projects will strongly contribute to the reduction of CO2 emissions in the European Union, according to the targets set in the Kyoto protocol. In consequence, clean coal technologies can open up new markets not only in the EU member candidate states, but also in other parts of the world. Copyright © 2004 John Wiley & Sons, Ltd. [source]

    Networking and innovation: a systematic review of the evidence

    Luke Pittaway
    Recent work on competitiveness has emphasized the importance of business networking for innovativeness. Until recently, insights into the dynamics of this relationship have been fragmented. This paper presents a systematic review of research linking the networking behaviour of firms with their innovative capacity. We find that the principal benefits of networking as identified in the literature include: risk sharing; obtaining access to new markets and technologies; speeding products to market; pooling complementary skills; safeguarding property rights when complete or contingent contracts are not possible; and acting as a key vehicle for obtaining access to external knowledge. The evidence also illustrates that those firms which do not co-operate and which do not formally or informally exchange knowledge limit their knowledge base long term and ultimately reduce their ability to enter into exchange relationships. At an institutional level, national systems of innovation play an important role in the diffusion of innovations in terms of the way in which they shape networking activity. The paper provides evidence suggesting that network relationships with suppliers, customers and intermediaries such as professional and trade associations are important factors affecting innovation performance and productivity. Where networks fail, it is due to inter-firm conflict, displacement, lack of scale, external disruption and lack of infrastructure. The review identifies several gaps in the literature that need to be filled. For instance, there is a need for further exploration of the relationship between networking and different forms of innovation, such as process and organisational innovation. Similarly, we need better understanding of network dynamics and network configurations, as well as the role of third parties such as professional and trade associations. Our study highlights the need for interdisciplinary research in these areas. [source]

    Satellite communications: the contribution of the 5th framework programme and future perspectives

    Bernard Barani
    Abstract The telecommunication sector is of key importance for the European economy. Digitization, secure broadband access and mobility are expected to shift an ever-growing proportion of the economy on line, thus creating new markets and business opportunities. With the eEurope 2002 and eEurope 2005 initiatives, the European Union has initiated a number of policy actions aiming at favouring the rapid introduction of innovative communication systems, services and applications. Research and development, as supported under the IST programme of the Union, is closely associated to the overall policy picture. The IST programme is notably instrumental in supporting, with a longer-term approach, key policy orientations such as the pervasive introduction of low cost broadband access, introduction of advanced mobile systems, or migration of networks towards the next generation of Internet protocol, IPv6. Satellite communication form an integral part of this diversified communication landscape, and has also been significantly supported under the 5th Framework Programme. Even if the problematic of the satcom industry are to some extent similar to those of the terrestrial players (e.g. catalysing take up of broadband and advanced mobile markets), the strategies followed by the satcom sector differ from those followed by the terrestrial players. This paper review the current technological approaches of the satcom industry, their relevance in the context of the policy goals of the Union, and how they have been supported under the IST programme. It also introduces briefly how co-ordination with ESA work has been achieved, and the perspectives for further support, notably under the now starting 6th Framework Programme. Copyright © 2004 John Wiley & Sons, Ltd. [source]

    Constructing Reform Coalitions: The Politics of Compensations in Argentina's Economic Liberalization

    Sebastián Etchemendy
    ABSTRACT It is frequently argued that the key to "successful" economic liberalization is to marginalize interest groups that profit from existing regulatory regimes. This paper contends that some established interests can craft public policies to protect their rents in the new market setting. The state may shape the interests of social actors and create proreform constituencies out of old populist and interventionist groups. In Argentina, this coalition building was achieved by constructing reform policies that granted rents in new markets to business and organized labor and by deliberately avoiding unilateral deregulation in sectors where reform would hurt traditionally powerful actors. This argument is developed through a comparative analysis of policy reform in the labor market institutions and protected industrial sectors, areas where the costs of deregulation are said to be unavoidable for the established actors. [source]

    Dendritic macromolecules at the interface of nanoscience and nanotechnology

    Jean M.J. Fréchet
    Abstract As a result of their unique architecture and structural as well as functional versatility, dendrimers have generated considerable interest in numerous areas of the physical sciences, engineering, as well as the biological sciences. Both their size - in the 1-10 nm range - and their globular shape resemble those of many proteins suggesting a host of biomimetic and nanotechnological applications. This brief highlight describes some of our recent work with nascent applications of dendrimers as unimolecular nanoreactors, as nanoscale antennae for energy harvesting and transduction, and as nanosized carriers for diagnostic or therapeutic applications. While implementation of some of these applications may still be distant, the impatient critic might remember that new markets are not created overnight as demonstrated by the slow commercial acceptance of many promising molecules and technologies with development frequently extending decades after their initial discovery. [source]

    Explaining the profitability of foreign banks in Shanghai

    M.K. Leung
    This paper uses survival analysis to examine the factors determining the time taken for branches of foreign banks in Shanghai, China to make a positive rate of return after entering that market. Particular attributes of banks including the parent bank's size, early entry and the number of branches the bank has in China are found to reduce time to profitability. Market conditions in Shanghai, captured by levels of foreign direct investment and Eurodollar interest rates, are also found to have significant effects. A number of managerial implications are drawn from the analysis in light of the greater access to the Chinese banking markets following China's accession to the WTO. To ensure long-term profitability in Shanghai, the foreign bank needs to contain costs and risks in the new markets, formulate an effective market penetration strategy, identify appropriate customer target groups, attract businesses from firms of different countries, seek early entry and undertake more fee-income generating businesses. Copyright © 2003 John Wiley & Sons, Ltd. [source]

    The co,evolution of technologies and institutions: a comparison of Taiwanese hard disk drive and liquid crystal display industries

    R & D MANAGEMENT, Issue 3 2002
    Chang Hung
    In this paper, we examine the different evolutionary processes and outcomes of the hard disk drive and liquid crystal display industries in Taiwan. To this end, we make two general theoretical claims. First, that an appreciation of the globalization of technology is as important as national institutions in understanding industry development in catch,up economies such as Taiwan. Second, in addressing both industrial survival and failure, that national institutions can have either a positive or a negative impact on sectoral activities. Empirically, we show that, in Taiwan, rigid social institutions conflict with the hard disk drive technology. This conflict, in turn, produces obstacles to Taiwanese firms' search for new markets and skills in hard disk drives. On the other hand, Taiwan's institutional structures provide a source of technical efficiency and market opportunity for the emerging liquid crystal display trajectory. This, in turn, drives Taiwanese industry towards adopting new practices in the manufacture of liquid crystal displays. [source]

    Multinationals and institutional competitiveness

    Peer Hull Kristensen
    Abstract This article discusses how institutional competitiveness and multinationals are mutually enriching concepts. Multinationals transfer capital, technology, and knowledge into new settings. They allow subsidiaries access to new markets, new resources, and new processes. Potentially, therefore, institutional competitiveness can be increased by the presence of multinational corporations (MNCs) and their subsidiaries. However, this depends on the type of multinational and the type of institutional context. By differentiating two types of MNC in terms of short-term and long-term orientations to investment, and two types of host institutional setting in terms of strength of institutional complementarities and interconnectedness, we develop a typology of four types of interaction between MNCs and institutional settings. We then analyze how each type influences institutional competitiveness. We conclude that these outcomes, while structurally shaped, are still dependent on how actors (individuals, firms, collective organizations, and governments) strategize to develop institutional frameworks in the context of highly competitive global markets. [source]

    Investment dynamics in markets with endogenous demand

    Nikolaos Vettas
    I examine entry into markets where demand is an increasing function of past sales because of learning, networks, or fashion. Demand is initially unknown (with firms learning in Bayesian fashion) and grows endogenously over time. The competitive expansion path and the efficient/monopoly solution differ not only with respect to levels (the market's investment is too low), but also time patterns: externalities contribute to S-shaped diffusion. There is also path-dependence: small initial differences may determine whether the market will grow or not open. Policy arguments for subsidizing entry into new markets, especially in infant export industries, are examined. [source]

    Organizing for Radical Innovation: An Exploratory Study of the Structural Aspects of RI Management Systems in Large Established Firms

    Gina Colarelli O'Connor
    To escape the intense competition of today's global economy, large established organizations seek growth options beyond conventional new product development that leads to incremental changes in current product lines. Radical innovation (RI) is one such pathway, which results in organically driven growth through the creation of whole new lines of business that bring new to the world performance features to the market and may result in the creation of entirely new markets. Yet success is elusive, as many have experienced and scholars have documented. This article reports results of a three-year, longitudinal study of 12 large established firms that have declared a strategic intent to evolve their RI capabilities. In contrast to other academic research that has analyzed specific projects to understand management practices appropriate for RI, the present research reported explores the evolution of management systems for enabling radical innovation to occur repeatedly in large firms and reports on one aspect of this management system: organizational structures for enabling and nurturing RI. To consider organizational structure as a venue for capability development is new in the management of innovation and dynamic capabilities literatures. Conventional wisdom holds that RIs should be incubated outside the company and assimilated once they have gained traction in the marketplace. Numerous experiments with organizational structures were observed that instead work to manage the interfaces between the RI management system and the mother organization. These structures are described here, and insights are drawn out regarding radical innovation competency requirements, transition challenges, senior leadership mandates, and business-unit ambidexterity. The centerpiece of this research is the explication of the Discovery,Incubation,Acceleration framework, which details three sets of necessary, though not sufficient competencies, for building an RI capability. [source]

    Bringing High Technology to Market: Successful Strategies Employed in the Worldwide Software Industry

    Chris Easingwood
    The launch stage can be critical for many new products, but particularly so for technology-intensive ones. This study examines this key stage in a high-tech sector: the worldwide computer software industry. Using a research instrument developed across a number of high-tech sectors, but adapted to the targeted sector, it describes a worldwide telephone-based survey of 300 organizations, resulting in 190 interviews, a response rate of 63%. It shows that five distinct and interpretable strategies are employed: (1) alliance strategy involves forming early strategic alliances as well as tactical alliances at the execution stage together with the development of unique distribution channels; (2) targeted low risk attempts to reduce the risk of adoption among identified segments by producing versions of the product specifically customized to the segments; (3) low-price original equipment manufacturer (OEM) is the only price-driven strategy and combines low price with channel building to OEMs who are looking for attractive price-to-performance ratios; (4) broadly based market preparation is an early-stage strategy that concentrates on educating the market vis-à-vis the technology and developing channels; and (5) niche-based technological superiority uses a technologically superior product to dominate a niche and corresponds closely to the chasm-crossing strategy expounded by Moore and others. Regarding superior product performance, successful software companies first of all engage in a broadly based preparation of the market but switch to a targeted strategy at the following stages of positioning and execution, built around superior technological performance and reduced risk. A somewhat different mix of strategies is adopted when the objective is superior market development, namely opening up new markets, reaching new customers, and developing new product platforms. Again the mix includes broadly based market preparation, this time along with alliances. This strategy is very much about working with partners. The broadly based market preparation strategy is key for both objectives, is long term in nature, and avoids narrowly defined niches. It seems that starting broad based and narrowing down, perhaps to a niche, only at a later stage when this is clearly the appropriate thing to do, pays dividends. [source]

    Launch Decisions and New Product Success: An Empirical Comparison of Consumer and Industrial Products

    Erik Jan Hultink
    Many articles have investigated new product development success and failure. However, most of them have used the vantage point of characteristics of the product and development process in this research. In this article we extend this extensive stream of research, looking at factors affecting success; however, we look at the product in the context of the launch support program. We empirically answer the question of whether successful launch decisions differ for consumer and industrial products and identify how they differ. From data collected on over 1,000 product introductions, we first contrast consumer product launches with industrial product launches to identify key differences and similarities in launch decisions between market types. For consumer products, strategic launch decisions appear more defensive in nature, as they focus on defending current market positions. Industrial product strategic launch decisions seem more offensive, using technology and innovation to push the firm to operate outside their current realm of operations and move into new markets. The tactical marketing mix launch decisions (product, place, promotion and price) also differ markedly across the products launched for the two market types. Successful products were contrasted with failed products to identify those launch decisions that discriminate between both outcomes. Here the differences are more of degree rather than principle. Some launch decisions were associated with success for consumer and industrial products alike. Launch successes are more likely to be broader assortments of more innovative product improvements that are advertised with print advertising, independent of market. Other launch decisions uniquely related to success per product type, especially at the marketing mix level (pricing, distribution, and promotion in particular). The launch decisions most frequently made by firms are not well aligned with factors associated with higher success. Additionally, comparing the decisions associated with success to the recommendations for launches from the normative literature suggests that a number of conventional heuristics about how to launch products of each type will actually lead to failure rather than success. [source]

    Barnacle culture: background, potential and challenges

    Daniel A. López
    Abstract There are approximately a dozen species of commercially interesting barnacles worldwide, some of which have been cultured on a semi-industrial scale. These species are listed and information is provided with regard to geographical distribution, landings and prices. Traditionally, ,goose' barnacles (four species) are considered to be the most important for consumption. World production already stands at 500 tonnes year,1, but this species has not been cultured to date. Some ,acorn' barnacles are also consumed (seven species), with harvest levels per species that do not exceed 200 tonnes year,1 and selling prices that can reach US$17/kg. ,Acorn' barnacle culture on a world scale is still developing. Nevertheless, production has occurred on a semi-industrial scale; specifically, spat have been collected from the wild and grown in suspended systems. Farming trials have focused on two species of acorn barnacles: Austromegabalanus psittacus (Molina 1782) ,picoroco' in Chile and Megabalanus azoricus (Pilsbry 1916) ,craca' in Portugal. The large-scale production of these crustaceans will depend on the optimization of spat collection from the wild and/or the parallel development of mass production technologies for larvae (hatcheries). In addition, further development will be achieved by opening up new markets for commercialization. [source]

    Long-term Forecast of the Demographic Transition in Japan and Asia

    Takao KOMINE
    J11 Abstract The demographic structure of Asia is expected to change rapidly from around 2020 up to around 2050. Following Japan, which is already at an advanced stage of aging and birthrate decline, China, South Korea, Thailand, and Singapore will also witness a further decline in their birthrates and an aging of their populations. Next in line will be the remaining countries of the Association of South-East Asian Nations as well as India. Such changes, accompanied by a decline in the labor force, will not only adversely affect economic growth, but also have a major impact on voting structures, savings rates, and social security systems. Moreover, the process of demographic aging in Asia will be faster than in Japan, and its extent will be substantial, both of which exacerbates the negative effects. On positive side, these trends will give rise to the emergence of new markets. [source]

    The development of biocommodities and the role of North West European ports in biomass chains

    Johan P. M. Sanders
    Abstract Biomass-derived commodities will compete with commodities derived from fossil fuels in 20 years' time. This perspective will explore the economic conditions that will govern the development of, and the trade in these biocommodities. Markets for biocommodities will open up new revenues for both the agricultural and the chemical sector. We shall explore the importance of the biorefinery concept for the establishment of these new markets. Biorefinery is the sustainable processing of biomass into a spectrum of marketable products and energy. Trade in biobased substances will be greatly enhance if standard ,commodities' are defined and produced in several places in the world. Now we turn to the second question of this perspective: where will biocommodities be produced and where will they be used? The choice of where to process the biomass will depend on the type of biomass, transport distances, bulk density, decay rate, ease of handling, the type of process(ses), the presence of markets, the cost of labor, and logistical conditions. Ports, both on the exporting side and on the importing side, will have a major influence on the formation of biomass chains. In export ports, crude or partially pre-treated biomass will be collected and processed/ transformed into a biocommodity. Existing industries, such as feed production, can be combined with the production of biocommodities, The role of port areas and chemical industries in several biomass chains are shown. The combination of a major port and major application markets for biomass, such as feed industry, chemical industry, biofuels industry and power generation, will allow for the formation of a biomass hub. The formation of a biomass hub will be a step-by-step process in which services and exchange markets are added to existing logistical and industrial structures. The port of Rotterdam has an excellent starting point to become a hub in international biomass trade and processing. In the near future, 5,15 years from now, international biomass trade will become standardized and biocommodities will be defined, partly on the basis of technologies still in development. © 2009 Society of Chemical Industry and John Wiley & Sons, Ltd [source]

    Chemische Produktion gemäß Koran und Thora.

    Chemie und Religion
    Die Herstellung von Produkten im Einklang mit den Gesetzen des islamischen oder jüdischen Glaubens stellt sowohl für die chemische Industrie als auch für die religiösen Autoritäten eine erhebliche Herausforderung dar, die nur in vertrauensvoller Zusammenarbeit gemeistert werden kann. Ein koscher- oder halal-Zertifikat bedeutet nicht, dass das Produkt aus chemischer Sicht besonders rein ist. Vielmehr wird garantiert, dass alle Rohstoffe koscher oder halal waren und der gesamte Verarbeitungsprozess im Einklang mit den religiösen Gesetzen erfolgt ist. Für die chemische Industrie öffnen sich neue Märkte und der gläubige Verbraucher kann sicher sein, dass eine zweite vertrauenswürdige Autorität den gesamten Herstellungsprozess überwacht hat. Industrial chemical production in agreement with the laws of Islamic or Jewish religion puts a considerable challenge on both, the companies and the religious authorities. The difficult problems can only be solved through trustworthy cooperation. A kosher or halal certificate doesn't mean that the product is especially pure from a chemical point of view. Rather it guarantees that all raw materials were kosher or halal and that non-kosher or haram material were not present during the entire production process. In a win-win-situation new markets will be opened for the chemical industry and the faithful followers are assured that a second trustworthy authority has overseen the entire manufacturing process. [source]