An Implicit Clientele Test of the Relationship between Taxation and Capital Structure

This paper presents a test for the existence of debt clienteles in which the latter are represented by progressive personal tax brackets. The test generates some evidence consistent with the implication of debt clientele theory that, over time, firms' debt ratios should vary with the relative tax incentives which their investors have to hold debt. Changes in the relative structure of taxes, however, at best only partially account for the time series behavior of debt ratios, especially in the case of high debt firms.

Fitting quotients of finitely presented abelian-by-nilpotent groups

We show that every finitely generated nilpotent group of class 2 occurs as the quotient of a finitely presented abelian-by-nilpotent group by its largest nilpotent normal subgroup.Comment: This second version takes into account the suggestions by the referee; 11 page

Infinite presentability of groups and condensation

We describe various classes of infinitely presented groups that are condensation points in the space of marked groups. A well-known class of such groups consists of finitely generated groups admitting an infinite minimal presentation. We introduce here a larger class of condensation groups, called infinitely independently presentable groups, and establish criteria which allow one to infer that a group is infinitely independently presentable. In addition, we construct examples of finitely generated groups with no minimal presentation, among them infinitely presented groups with Cantor-Bendixson rank 1, and we prove that every infinitely presented metabelian group is a condensation group.Comment: 32 pages, no figure. 1->2 Major changes (the 13-page first version, authored by Y.C. and L.G., was entitled "On infinitely presented soluble groups") 2->3 some changes including cuts in Section

Lossless compression of image data products on th e FIFE CD-ROM series

How do you store enough of the key data sets, from a total of 120 gigabytes of data collected for a scientific experiment, on a collection of CD-ROM's, small enough to distribute to a broad scientific community? In such an application where information loss in unacceptable, lossless compression algorithms are the only choice. Although lossy compression algorithms can provide an order of magnitude improvement in compression ratios over lossless algorithms the information that is lost is often part of the key scientific precision of the data. Therefore, lossless compression algorithms are and will continue to be extremely important in minimizing archiving storage requirements and distribution of large earth and space (ESS) data sets while preserving the essential scientific precision of the data