Lintner values

Method of Calculating Diastatic Activity (Lintner Value). Express the result according to the following equations ... 

Thorne et al. (129) reported a method for the evaluation of malts for the production of alcohol from wheat. The interesting feature of their paper is the conclusion that malt is best evaluated by an actual fermentation test. They support this by showing that there is only a limited correlation between the conventional Lintner values and actual alcohol production. While it is helpful to know the Lintner value, a precise evaluation of the malt can be made only from the fermentation itself. Details of a suitable test are given in the publication. 

When measured at 40° with Lintner s soluble potato starch, the ratio of the dextrinogenic to the saccharogenic activities is approximately 6 to 1 for the amylase of Aspergillus oryzae. This value is given by both crude and purified preparations of the amylase if the measurements are carried out under comparable conditions. This constancy in the ratio of these two activities has led to the conclusion that, like pancreatic amylase, the amylase of Aspergillus oryzae is not accompanied in nature by beta amylase. Reacting mixtures of the amylase of Aspergillus oryzae and starch exhibit alpha mutarotation.72... 

Very highly purified preparations of alpha amylase of malted barley give a value of approximately 4 to 1 for the ratio of their dextrinogenic to their saccharogenic activities when the measurements are made at 40° with Lintner s soluble potato starch.81 Under the same conditions approximately the same value is obtained with products precipitated by alcohol from malted barley extracts which had been treated to inactivate beta amylase.23 81 However, a constant value for these ratios is not proof that beta amylase is entirely absent. There is at present no satisfactory way of making certain that malted barley alpha amylase is not contaminated with traces of beta amylase. The crystallization of alpha amylase from malted barley has been reported since this manuscript was written.79... 

It was Brown and Morris (15) in 1888 who employed Raoult s method. They reported a value of 30,000 for the molecular weight of amylodextrin, a degradation product of the hydrolysis of starch. Subsequently Lintner and Dull (16) also using cryoscopy reexamined amylodextrin, and reported the molecular weight as 17,500. In a third paper, Rodewald and Kattein (17) in 1900, measured the molecular weight of starch by osmotic pressure experiments carried out on aqueous solutions of starch iodide. They obtained somewhat higher molecular weights, 36,700 and 39,700. 

Details for a manufacture of 10 ton/week are given. It was pointed out that the reaction is reversible and that an enzymatic synthesis of fat from glycerol and fatty acid was described by Welter in 1911 (Ullmann, 1914). For the chill-proofing of beer proteolytic enzymes have been used successfully since 1911 in the USA (Tauber, 1949). Lintner, as early as 1890, observed that wheat diastase interacts in dough making. This effect was extensively studied, the addition of malt extract came into practice, and American bakers in 1922 used 30 million pounds of malt extract valued 2.5 million dollars (Tauber, 1949). The production of pectinases began around 1930 for use in the fruit industiy (Schweizerische Ferment, now part of Novo Nordisk). 

If the equity value is estimated by using the discounted cash flow method, the cost of capital assumes a particular relevance. Conventionally, the cost of capital is estimated through the capital asset pricing model (CAPM) that was introduced by Sharpe (1964) and subsequently improved by Lintner (1965). One of the most important variables is beta. Beta measures the sensitivity of the asset s or company returns to variation in the market or index returns. Therefore, according to CAPM theory, the risk assumed from an investor depends on the covariance (or correlation) between individual assets and market portfolio. Thus, if these singular assets do not have correlation, they will not add risk differently, if the correlation is positive they will add risk on market portfolio. 

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