Browsing by Issue Date, starting with "2024-11-21"
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- A survey of corporate finance practices in micro-enterprises: an exploratory analysis conditional on firm and manager characteristicsPublication . Morais Francisco, PauloThis study outlines the findings from a survey of 208 micro-enterprises (MEs) in Portugal, focusing on their corporate finance practices, including working capital management (WCM), financing and investment decisions, the adoption of accounting information systems (AIS) and the use of financial data. Both an unconditional exploratory study and a study conditional on the characteristics of the ME and its manager are conducted. The unconditional results reveal direct CEO involvement in cash management and accounts receivable in MEs. While these companies use AIS for financial reporting, the use of financial ratios is uncommon. Additionally, these MEs do not frequently calculate the cost of capital and primarily rely on the payback rule as an investment decision criterion. With respect to the conditional analysis, the results indicate that factors such as size and managers' education, especially in finance, significantly influence the sophistication of corporate finance functions. Moreover, management diversity emerges as a key driver across various financial functions, and family businesses demonstrate heightened concern for these financial aspects. The study concludes by recommending the promotion of financial education for ME managers to enhance their financial management practices. Particularly, it advocates for targeted financial literacy policies and training and the adoption of advanced financial tools to support the growth and sustainability of MEs.
- Building an integrated analytical framework: a new methodology to analysing social-ecological systemsPublication . Gari, Sirak Robele; Newton, Alice; Icely, John DavidAppropriate adaptive management frameworks are useful for analyzing social-ecological systems. Natural resource managers and concerned stakeholders can co-design locally adapted, appropriate management systems based on the information obtained using frameworks, which leads to a better understanding of the social-ecological system (SES). However, no single framework addresses all environmental and social issues with equal efficiency. Therefore, the Driver-Activity-Pressure-State-Impact (Welfare)-Response (Measure) framework (DAPSI(W)R(M)), Ostrom's SES Framework (SESF), and the Systems Approach Framework (SAF) were combined to create an integrated analytical framework (IAF). Finally, the integrated analytical framework was tested in the Community Council of Alto and Medio Dagua (AMDA), Colombia, to assess a water quality problem emanating from anthropogenic activities. The approach seems to be valid and useful for the assessment of social-ecological systems.
- Confocal laser scanning microscopy reveals species-specific differences in distribution of fluorescent proteins in coral tissuesPublication . Marchioro, Giulia M.; Coelho, David; Bouderlique, Thibault; Abed-Navandi, Daniel; Schagerl, Michael; D’Angelo, Cecilia; Kruckenhauser, Luise; Adameyko, Igor; Frade, Pedro R.Reef-building corals have a variety of green fluorescent protein (GFP)-like proteins, also known as fluorescent proteins (FPs). These proteins have broad spectral properties covering most of the visible spectrum, with fluorophores fluorescing from cyan to red. However, the role of FPs is still a topic of debate and requires further investigation, particularly in the direction of mapping these FPs within the coral tissue and describing their cell- and tissue-level distributions. This study applied confocal laser scanning microscopy (CLSM) to investigate species-specific differences in the distribution of FPs in three coral taxa (Stylophora sp., Acropora sp., Echinopora sp.), combined with their photoacclimation response and that of associated symbiotic algae to light gradients in a controlled aquarium experiment. CLSM produced high-resolution images that enabled the identification of different FPs, their tissue distribution and quantification of their fluorescence intensity, as well as quantification of symbiont chlorophyll a (chl-a) fluorescence. Emission scans revealed three emission peaks between 490 - 501 nm (cyan, CFPs), 510 - 515 nm (green, GFPs), and 679 nm (chl-a fluorescence signal; Fchl) shared by all three studied species. The distribution of GFPs in Stylophora was concentrated in the intermesenterial muscle bands of the polyp, whereas CFPs were typically located at the tips of the tentacles. In contrast, Acropora and Echinopora exhibited agglomeration of CFPs and GFPs primarily in the epidermis. In general, species-specific differences in FP distribution remained unaltered during the experiment. However, linear regression models showed a significant negative relationship between CFP fluorescence intensity and light irradiance in Stylophora, whereas Echinopora exhibited a negative relation between chlorophyll fluorescence (Fchl) and light. In summary, the CLSM methodology provided a high-resolution tool to study coral FP patterns and symbiont response to irradiance, revealing ecophysiological differences among coral species at the tissue and cellular levels. CLSM has the potential to elucidate the intricacies of coral photobiology within the natural environment and to discern their adaptive responses in situ.