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Extant giant pandas are among the most herbivorous forms of the order Carnivora, feeding mainly on hard plant material. The first steps of their evolutionary lineage are of particular interest for our understanding of the factors that led to this specialized niche. The present work deals with newly discovered dental material of the primitive ailuropodine bear Kretzoiarctos beatrix from the Late Miocene locality of Hammerschmiede (Germany). This is the first report of the genus Kretzoiarctos outside the Iberian Peninsula, expanding its spatial range to Central Europe. All of the currently known localities with K. beatrix, from both Spain and Germany, are very similar in age (c. 11.9–11.4 Ma). The present material has distinct features that enable its taxonomic discrimination from other Miocene ursids of Europe, such as Ballusia, Ursavus, Miomaci, Agriarctos and Indarctos. A thorough comparison is conducted of all of these forms. The new specimens were used in a dental microwear texture analysis in combination with ecomorphological comparisons, to investigate the dietary habits of this primitive ailuropodine. The results suggest that Kretzoiarctos was not an eater of tough plant material like the extant giant panda but was more similar to the extant Tremarctos, exhibiting opportunistic behaviour with occasional consumption of meat. [ABSTRACT FROM AUTHOR]

In this study, we describe the dental remains of a very minute beaver from the early Late Miocene locality Hammerschmiede (MN 7/8) located at the Northern Alpine Foreland Basin (Southern Germany, Bavaria). The finds represent the so far most comprehensive (>1.000 dental specimens) collection of the trogontheriine castorid Euroxenomys minutus. Metrically and morphologically, the large data set demonstrates an extensive intraspecific variability of this beaver from Hammerschmiede that covers most finds of other European localities and confirms previous species assignments. The subspecies Euroxenomys minutus rhenanus from Dorn-Dürkheim (Germany), clearly isolates from this range of variation and can thus be validated. The performed age-frequency distributions for Euroxenomys minutus from the local stratigraphic levels HAM 5 (rivulet) and HAM 4 (river) correspond roughly and also resemble Euroxenomys from the swamp deposit Rudabánya (Hungary). Since previous mortality studies on the also occurring larger beaver Steneofiber depereti from Hammerschmiede demonstrated dominance of behavioural or internal factors, this cross-ecosystem similarity in mortality for the small beaver species is likely explained by external factors, such as predation. Supported by a taphonomic bone analysis, a multitude of predators are finally considered to prey on Euroxenomys minutus and indicate a predatory bone assemblage. [ABSTRACT FROM AUTHOR]

In a firm with concentrated ownership, minority shareholders risk expropriation by controlling shareholders. This expropriation risk reduces firm value. The split-share structural reform of China in 2005 provides an opportunity to exam the relationship between the protection of minority shareholders and firm value. Two previous attempts to make all shares tradeable in the stock market failed. The third attempt in 2005 added terms to protect the interests of minority shareholders. The key changes were the terms of compensation paid to the public shareholders and requiring a two-thirds vote of public shareholders necessary for the reform to occur. 237 firms completed the reform by the end of 2005. 32 firms that used compensation other than transferring dividend shares to tradeable shareholders as the only compensation method were excluded from the sample for the ease of comparison. Firms that have B shares or are cross-listed were excluded to avoid price impact from outside the domestic Chinese market. Four initial pilot firms that had an extraordinary increase in price after reform were excluded to avoid influential data. Firms with a re-list date after our examination window were also removed. Finally, 188 out of 237 firms were in our data sample. Firm values before and after reform were calculated based on Tobin's Q model. Multivariable linear regressions were used to examine whether better investor protection offered to the tradeable shareholders leads to a higher increase in firm value after reform. We find a higher voting approval rate is associated with a greater increase in firm value after reform. However, consideration payment does not show such a positive relationship with firm value. This may be because other factors can influence consideration payment. For example, some studies find a lower compensation ratio in firms with a better corporate governance environment. We also do not find positive association with respect to the non-binding complementary commitments made by the controlling shareholders. Our results indicate protection of small investors is important in a concentrated ownership structure, especially when corporate governance is still weak. JEL Classifications: G14, G32, O16, P31 Keywords: Ownership Structure and Firm Value, Minority Shareholder Protection, Split Share Structure Reform in China, INTRODUCTION Classical law and finance theories state that better investor protection is associated with better development of financial markets (La Porta, Lopez-de-Silanes, Shleifer & Vishny, 1997, 1998, 2000b). Shleifer and [...]

Information about an existing structure can be collected at certain costs to evaluate the reliability and condition as realistically as necessary. This information can be relevant or irrelevant, true or biased, precise or imprecise. The incorporation of relevant and quality‐assessed measured information into reliability reassessment offers the chance to extend remaining lifetimes and support decision making about optimal actions or maintenance strategies. This paper shows recent developments in a national research project that aims to produce a guideline on the NDT‐based, structure‐specific modification of partial safety factors. The general methodology, results from recalculations according to the Eurocodes and metrologically solvable testing tasks relevant in the recalculation of the concrete bridges are shown and compared with the non‐destructive testing methods applicable to concrete bridges. A case study is used to demonstrate that as‐built drawings, in this case of the positions of tendons and shear reinforcement, can be verified using the radar method. [ABSTRACT FROM AUTHOR]

We describe leg bones of a larger-sized representative of the Anatidae from the Tortonian of the Hammerschmiede clay pit in southwestern Germany. Allgoviachen tortonica, n. gen. et sp. differs from most other representatives of the Anatidae in tarsometatarsus characters. The holotype is among the most substantial records of an anatid from this stratigraphic period in Central Europe and shows unusual morphological features that impede a straightforward phylogenetic assignment. In overall proportions, the tarsometatarsus resembles that of the extant taxon Sarkidiornis and some Tadornini, whereas the hypotarsus morphology differs from all extant Anatidae. Because of its resemblance to the early Miocene taxa Paranyroca and Cygnopterus, the new species may be a stem group representative of the Anatidae, but more osteological data are required for a firm phylogenetic placement. We show that anseriform birds exhibit a previously unnoticed diversity of the ungual phalanges of the pedal digits, and the curved unguals of the fossil indicate a predominantly non-aquatic way of living. The Hammerschmiede avifauna also includes a very small anseriform, which may belong to the extinct taxon Mioquerquedula; equally small species of the Anatidae are today restricted to tropical and subtropical regions. [ABSTRACT FROM AUTHOR]

The present paper deals with new hyaenid material from the locality of Hammerschmiede (Bavaria, Germany). The described specimens are attributed to two forms: most of the specimens belong to the species Thalassictis montadai, whereas one I3 is attributed to a large bone-cracking hyena. The material comes from the layers HAM 5 (11.62 Ma) and HAM 6 (slightly younger than 11.44 Ma) of Hammerschmiede (base of Late Miocene). The species Thalassictis montadai is well-known from late Aragonian and early Vallesian localities of central and southern Europe and west Asia. The presented material enables us to make a short review of the state-of-the-art about the fossil record of this species and to discuss its intraspecific variability. A gradual replacement of Thalassictis montadai, Thalassictis robusta and Hyaenictitherium wongii in Europe is demonstrated, until the arrival of canids during the latest Miocene. Additionally, the upper incisor of the large hyaenid creates some interesting questions concerning the first appearance of the crocutoid hyenas in the fossil record and their dominance over the percrocutoids. [ABSTRACT FROM AUTHOR]

Dental remains of a medium sized beaver from the early Late Miocene Hammerschmiede locality (MN 7/8) in the Northern Alpine Foreland Basin (Southern Germany, Bavaria) are described and assigned to Steneofiber depereti. The numerous material (160 teeth) was collected in the two fossiliferous layers HAM 5 and HAM 4 and comprises beaver individuals of a large range of age classes, from juvenile to old. The dental remains metrically and morphologically overlap the stratigraphic older Steneofiber spp. and the younger Chalicomys spp. This supports the hypothesis of the European anagenetic evolutionary lineage Steneofiber depereti-Chalicomys jaegeri. The morphological characters to differentiate Steneofiber depereti and Chalicomys jaegeri are discussed and redefined. The performed age-frequency distribution (Mortality profile) indicates a natural ecological mortality and confirms that at least the fluvial channel of the HAM 4 deposits was the actual optimal beaver habitat and continuously populated by larger family groups of beavers. Furthermore, there are indications that the Hammerschmiede beaver had a similar parental investment as today's beavers, where young adults migrate to poorer habitats in the second year, in search of their own territory. The shallower channel of HAM 5 possibly represents such a "second choice" habitat. [ABSTRACT FROM AUTHOR]

Research has been conducted on the posttranslational core histone acetylation. The identification of two maize histone deacetylase forms by purification and cDNA cloning is described.

A study was conducted to analyze the specificity of deacetylases for core histones, acetylased histone H4 subspecies and acetylated H4-lysine residues. Histone deacetylase was purified from germinating maize embryos at 72 h after the start of seed inhibition. Experimental results indicated that different kinds of deacetylases interaction with highly specific acetylation patterns on nucleosomes.