The critical phase in a business failure-turnaround sequence : a study of the role of commercial banks as an influential trigger in the US and Canada.

This is an exploratory study into the role commercial banks play in triggering recognition of failure in a declining firm and the nature of the bank\u27s responses. Management literature has excluded important issues in the critical phase intervening decline and turnaround such as how the recognition of failure takes place, and the possible external influences on the turnaround strategy. Commercial banks being an influential external agency are ideally placed to perform this role. The study covered four banks in Canada and six banks in the US. The data collection comprised of qualitative sources (27 in-depth interviews with bank officers) and quantitative sources (questionnaire to loan officers seeking information pertaining to specific problem loan firms). Information on 34 cases in the US and 146 in Canada was obtained. The quantitative data was studied using correlational analysis, factor analysis, and a multiple regression model to help explain the bank\u27s response strategies. The study shows that acting out of self-interest, the banks are a source of triggering early recognition of failure in the firms and attempt to distinguish between decline in performance and impending failure. The variables explaining the response strategy of the bank include: the causes (internal/external) for decline, extent of security coverage, severity of the decline, the extent of cooperation with the bank, size, and the bank\u27s judgement on the ability of the firm to turnaround. The bank\u27s response should be considered at two levels: the initial efforts of the loan officer and the subsequent institutional response of the bank. While there were only a few major differences between US and Canadian banks on several aspects of recognition and response, they exhibited different correlation structures. While both US and Canadian officers preferred a workout to an exit strategy, the US officers had a bias towards a financial approach including additional financial coverage, and the Canadian officers showed a managerial approach including managerial changes. From the perspective of strategic management, this study shows the importance of a source outside the firm in triggering recognition of failure and its influence on the turnaround strategy of the firm

Transitions to Nematic states in homogeneous suspensions of high aspect ratio magnetic rods

Isotropic-Nematic and Nematic-Nematic transitions from a homogeneous base state of a suspension of high aspect ratio, rod-like magnetic particles are studied for both Maier-Saupe and the Onsager excluded volume potentials. A combination of classical linear stability and asymptotic analyses provides insight into possible nematic states emanating from both the isotropic and nematic non-polarized equilibrium states. Local analytical results close to critical points in conjunction with global numerical results (Bhandar, 2002) yields a unified picture of the bifurcation diagram and provides a convenient base state to study effects of external orienting fields.Comment: 3 Figure

Evaluation of Lightning Impulse Voltages Superimposed with Oscillations and Overshoot using the Test Voltage Function

The frequency and amplitude of the superimposed oscillations or overshoot near the peak in Lighting Impulse (LI) voltage have an influence on the 50% Break-Down Voltage (BDV). The evaluation of test voltage incorporating frequency dependent test voltage function known as -factor takes the physical breakdown behaviour of the different dielectric materials. The paper presents two methods for implementation of -factor and the complete procedure to evaluate the test voltage magnitude and time parameters of lightning impulse voltage waveform. The first method is based on mean curve approach using Double Exponential (DE) function whereas second method uses Single Exponential (SE) function fitting on the tail of the measured impulse. The standard IEC 61083-2 Test Data Generator (TDG) waveforms are used for evaluation and comparison of these methods

Formulation and Development of Orodispersible Tablet of Baclofen by Effervescent Method

The aim of the present study was to develop orodispersible tablets of Baclofen for improving patient compliance, by overcoming the difficulties in swallowing, with the prime objective of arriving at cost effective product by effervescent method. In the effervescent method, mixture of sodium bicarbonate and tartaric acid (each of 12% w/w concentration) were used along with super disintegrants, i.e., treated agar, sodium starch glycolate (SSG), Cross Carmellose Sodium (CCS) and Microcrystalline Cellulose (MCC). The prepared batches of tablets were evaluated for hardness, friability, drug content uniformity, in vitro dispersion time. The hardness and friability test reports revealed that the tablets had a good mechanical strength and resistance. The formulation containing high concentration of MCC, SSC and CCS and mixture of effervescent emerged as the best formulation based on in vitro drug release characteristics. The results of this work suggest that orodispersible tablets of Baclofen with rapid disintegration time, fast drug release and good hardness can be efficiently and successfully formulated by effervescent method

Effects of chloride on paramagnetic coupling of manganese in calcium chloride-washed photosystem II preparations

The effect of chloride on paramagnetic coupling of manganese in the oxygen-evolving complex of CaCl2--washed PS II preparations was examined using Q-band ESR. When these PS II preparations were depleted of chloride, a strong 6-line ESR signal characteristic of protein-bound, uncoupled manganese was observed. Incubation at high chloride concentrations caused the disappearance of this signal. By repeated removal and addition of chloride, the signal could be cycled on and off without loss of bound manganese. When in a chloride-depleted state, the ESR-detectable protein-bound manganese could be removed by treatment with EDTA. Subsequent heating of EDTA-treated preparations revealed a second pool of protein-bound manganese associated with PS II. One of these pools requires a high concentration of chloride to maintain paramagnetic coupling while the second pool (within the limits of our observations) does not appear to require chloride for the maintenance of the paramagnetically coupled state. © 1986