We examine the effect of rating history and the passage of time on the rating migration hazard for corporate debt issuers. Controlling for industry effects and the evolution of business and political cycles, the results consistently show that the next change of rating depends more strongly on rating history than it does on the current rating. However, there are significant interactions between the main effects of rating history and the duration of the current rating. The result is substantial decay in the effects of rating history the longer a rating remains unchanged. This decay effect is stronger for downgrades and for ratings in the speculative category.

The aim of our study was to establish the prevalence of dirofilariosis and intestinal helminthosis in dogs, in a rural region of Gabon, situated 500 km to the east of Libreville. The survey comprised the collection of blood and faecal samples in 2003 followed by their analysis in the Parasitology Laboratory at the Ecole nationale vétérinaire (National School of Veterinary Medicine) in Lyon, France. MATERIALS AND METHODSOur study focused on a population of semi-stray dogs living in 16 areas of Ogooué-Ivindo, a northeastern region of Gabon. The climate in this zone is typically equatorial with a dry season between midJune and mid-August. The cumulative annual rainfall is approximately 1 700 mm. A survey of helminth parasites was carried out on 198 dogs living in almost complete liberty in villages in the northeast of Gabon. Faeces and blood samples were collected and analysed. Dirofilaria immitis antigen was detected in 13.6 % of dogs using the SNAP 3Dx® test, a commercially available enzyme-linked immunosorbent assay (ELISA). Faecal examination revealed that 91.4 % of dogs were infected by intestinal helminths. Ascarids were found in 58.5 % of the samples. Trichuris vulpis was observed in 49.5 % of cases, and Uncinaria spp. and Ancylostoma spp. in 34.8 %, Spirocerca lupi in 25.3 % and Capillaria spp. in 10.6 %. Cestode embryophores were found in 8.6 % of the samples.

The informal constraints that arise from the national culture in which a firm resides have a pervasive impact on managerial decision making and corporate credit risk, which in turn impacts on corporate ratings and rating changes. In some cultures, firms are naturally predisposed to rating changes in a particular direction (downgrade or upgrade) while, in other cultures, firms are more likely to migrate from the current rating in either direction. This study employs a survival analysis framework to examine the effect of national culture on the probability of rating transitions of 5360 firms across 50 countries over the period 1985-2010. Firms located in long-term oriented cultures are less likely to be downgraded and, in some cases, more likely to be upgraded. Downgrades occur more often in strong uncertainty-avoiding countries and less often in large power distance (hierarchy) and embeddedness countries. There is some evidence that masculinity predisposes firms to more rating transitions. Studying culture helps enrich our understanding of corporate rating migrations, and helps develop predictive models of corporate rating changes across countries.

A microsatellite-containing 359-bp restriction fragment, isolated from the rat Pigr gene (murine polymeric immunoglobulin receptor gene) 3'-untranslated region (3'-UTR) and inserted into 3'-UTR or 3' flanking positions in transcription units of supercoiled plasmids, attenuates luciferase reporter gene expression in orientation- and position-dependent ways following transient transfection of human 293 cells. The same fragment stimulates orientation-dependent gene expression in a 5' flanking position. Plasmid linearization abrogates both orientation- and position-dependent responses. Cell-free translation reveals that 5' and 3' flanking expression responses are proportional to increased and decreased luciferase mRNA levels, whereas 3'-UTR expression is associated with control mRNA levels. Hypersensitivity to nucleases S1 and P1, gel mobility differences between supercoiled plasmids carrying opposing microsatellite orientations, and anomalous melting profiles of this fragment are also observed. These results suggest that functional pleiotropy of this fragment depends on the DNA context of its purine-rich microsatellite strand and on DNA supercoiling. Intramolecular triplexes stabilized by supercoiling and secondary structures of purine repeat-rich mRNAs may also confer regulatory properties to similar genomic elements.

Environmental conflict management gains significance in rational use of natural resources, ecosystem preservation and environmental planning for mineral mines. In Central Coast Vietnam, titan mines are subject to conflicting use and management decisions. The paper deals with an empirical research on applying a combination of the fuzzy Analytic Hierarchy Process (AHP) and the fuzzy Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) to measure environmental conflicts emerging as a result of titan mining in Vietnam. The methodology used in the paper combines the fuzzy AHP and the fuzzy TOPSIS to rank environmental conflicts and propose conflict prevention solutions in the titan mining industry of Ky Khang coastal commune (Ky Anh district, Central Coast Vietnam). Data was collected by using a questionnaire with 15 locals, 8 communal authorities, 2 district authorities, and 12 scientific experts on titan mining, environmental geology, and sustainability management. The result shows that, titan mining conflicts with the eight criteria of economic sectors at five alternative sites including beach, protected forest, agricultural area, settlement area, and industrial area. The conflicts between titan mining and forestry, agriculture, settlements, fishing and aquaculture are highly valued. The beach area shows most environmental conflict as a result of titan mining, followed by the agricultural area and settlement area. Based on the empirical findings, legal and procedural tools such as environmental impact assessments, strategic environmental assessments, integrated coastal zone management, marine spatial planning, and multi-planning integration advancing environmental management for titan mines in Vietnam are suggested.