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Articles by G. Wu
Total Records ( 4 ) for G. Wu
  G. Wu , Z. Liu , M.M. Bryant and D.A. Roland Sr.
  Five commercial white egg layer strains (Current-Bovans, Older-Bovans, Oldest-Bovans, Experimental-Bovans, and Dekalb) were used to compare performance and nutrient requirements when fed three protein levels (16.00, 14.85 and 13.99%). There were eight replicates of 15 hens (67 wk of age) for each treatment and the trial lasted 10 weeks. The results showed that there were no interactions between protein and strain on feed intake, egg production, egg mass, egg weight, feed conversion, egg specific gravity, and body weight of hens. Protein had significant effects on feed intake, egg mass, egg weight, egg specific gravity, and body weight. There were significant strain effects on feed intake, egg production, egg mass, egg weight, feed conversion and egg specific gravity. Current-Bovans had the best overall performance among the five layer strains. However, Dekalb had significant higher egg weight compared to Bovans. The best performance of Current-Bovans and Dekalb was obtained with hens fed the diet containing 16.00% protein. Current-Bovans hens required 16.5 g protein, 640 mg TSAA, 856 mg lysine, and 296 kcal ME per hen daily or 0.31 g protein, 12.00 mg TSAA, 16.07 mg lysine, and 5.55 kcal ME per g egg for the best performance. Dekalb hens required 17.8 g protein, 691 mg TSAA, 925 mg lysine, and 319 kcal ME per hen daily or 0.34 g protein, 13.04 mg TSAA, 17.45 mg lysine, and 6.03 kcal ME per g egg for the best performance.
  P. Gunawardana , G. Wu , Kun Yuan , M.M. Bryant and D.A. Roland, Sr.
  A 5 x 2 factorial arrangement of five protein levels with and without Peptiva was conducted to evaluate the effect of Peptiva on performance, egg composition, egg solids, and egg quality of commercial Leghorns. Hy-line W-36 hens (n=1200, 98 weeks old) were randomly divided into 10 dietary treatments (8 replicates of 15 hens per treatment). The experiment lasted 12 weeks. Protein had a significant effect on feed consumption, egg weight, egg production, egg mass, egg specific gravity, egg albumen solids, and percent egg components. As dietary protein increased from 13.53 to 15.62%, egg production, feed consumption and egg weight increased by 6.14%, 8.2% and 5.18% respectively. Feed consumption of hens fed the diets supplemented with Peptiva was significantly lower than that of hens fed the diets without Peptiva. Peptiva supplementation also significantly increased egg production of hens during week 98 and numerically higher in week 99, 103, 105, 106, 107, 109 and overall egg production. There was also a significant effect of peptiva on egg mass and feed conversion during first week but the significant effects were lost after second week.Peptiva significantly decreased feed intake without causing any adverse effects on egg weight and egg production. eptiva might be more beneficial for young hens. More research is needed with oung hens to evaluate performance and profits of commercial layers at different egg and ingredient prices.
  P. Gunawardana , G. Wu , Kun Yuan , M.M. Bryant and D.A. Roland.Sr.
  This study was a 3 X 7 factorial arrangement with three dietary energy levels (low, medium and high) and seven commercial Leghorn strains. The objective of this experiment was to determine the effect of increasing dietary energy on performance, egg composition, egg solids, egg quality, and profits in seven commercial Leghorn strains during second cycle phase 2 (from 88 to 97 week of age). This experiment lasted 10 weeks. Seven strains of hens (n=245 of each strain) at 88 week of age were randomly divided into 21 treatments (6 replicates of 15 birds per treatment). Strain had a significant effect on feed intake, egg production, egg specific gravity, egg weight, percent whole egg solids, and haugh unit. There were no interactions between strain and dietary energy on any parameters during second cycle phase 2 (88 to 97 weeks of age). Dietary energy had no significant effect on any parameter. However as dietary energy increased, egg production, final body weight of hens, egg mass, egg yolk color and egg yolk weight numerically increased; moreover feed conversion numerically improved from 2.06 to 2.02, resulting in a 1.94% improvement of feed conversion. It is difficult to determine an ideal dietary energy level for the hens in second cycle phase 2 because increasing dietary energy had no significant effect on feed intake, egg mass and feed conversion. Because feed ingredient and egg price vary, there can be no fixed ideal dietary energy requirement for optimal profits.
  S. T Bharath , P Pasquariello and G. Wu
 

Using a novel information asymmetry index based on measures of adverse selection developed by the market microstructure literature, we test whether information asymmetry is an important determinant of capital structure decisions, as suggested by the pecking order theory. Our index relies exclusively on measures of the market's assessment of adverse selection risk rather than on ex ante firm characteristics. We find that information asymmetry does affect the capital structure decisions of U.S. firms over the sample period 1973–2002. Our findings are robust to controlling for conventional leverage factors (size, tangibility, Q ratio, profitability), the sources of firms' financing needs, and such firm attributes as stock return volatility, stock turnover, and intensity of insider trading. For example, we estimate that on average, for every dollar of financing deficit to cover, firms in the highest adverse selection decile issue 30 cents of debt more than firms in the lowest decile. Overall, this evidence explains why the pecking order theory is only partially successful in explaining all of firms' capital structure decisions. It also suggests that the theory finds support when its basic assumptions hold in the data, as should reasonably be expected of any theory.

 
 
 
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