Political environment, financial intermediation costs, and financing patterns

Political environment is an important determinant of financial intermediation costs, which eventually affects the external financing patterns of firms. Political gyrations create policy uncertainty, which increases the information risk, weakens the investor demand, and reduces the offer size. This raises the securities’ placement costs for the financial intermediaries, who pass on these costs to the issuing firms in the form of higher underwriter spreads. The issuance costs for new equity and debt capital increase, leading to lower leverage. Simultaneous equation analysis of financing, investment, and cash policies reveals that this channel is distinct from previously documented effects of policy uncertainty on corporate outcomes

Investigation of the effect of magnetism on copper and iron electrolysis

Electrolysis has various real life applications in many different areas. It is used in the production many active metals, such as aluminum, and in automobile industry to fortify the metal used in the bodies of cars. Electrolysis is also important for space programs and military, where the electrolysis of water is used to produce necessary oxygen for the personnel in some vehicles such as spacecrafts and submarines. Since the rate of electrolysis is very important for these areas, a new method that increases the rate would benefit many areas that use the electrolysis in the process. This investigation is concerned with the effect of magnetism on the rate of electrolysis. For speeding up electrolysis for the areas mentioned earlier. The aim was to determine the effect of magnetic field with different magnitudes on the rate of electrolysis of copper and iron at a constant voltage, pressure with the same concentration of CuSO4 solution in 3 minutes. Two separate circuit systems were used, one being the electrolysis and other being the electromagnet. The experimentation process of the investigations consists of two parts. First experiment was carried out and the results showed an increase in the rate of electrolysis as the magnetic field increased. The second experiment was carried out to explain the gathered data in the first experiment in the light of Faraday’s Laws of Electrolysis, since the raw results from the first experiment needed to be expanded to be applicable to the Faraday’s Law. After the necessary calculations from the first experiment and data collection from the second experiment, the results were consistent with the Faraday’s Law. The final analysis showed that the increase in the strength of the magnetic field has increased the rate of electrolysis exponentially by changing the current of the electrolysis circuit

The Impact of COVID-19 and Its Policy Responses on Local Economy and Health Conditions

US states have implemented lockdown measures to contain the COVID-19 pandemic. We assess the impact of state policy responses on local economic and health conditions, with the goal to shed light on marginal health benefits and economic costs associated with social distancing. We find that lockdown measures are effective in alleviating disease severity, but yield significant contraction of the economy. Deteriorating health conditions are disruptive to the labor supply, financial health, and economic output. The adverse economic impact of lockdowns exceeds the economic damage brought by the disease itself, but health conditions better forecast economic contraction outcomes

Transfer of Analogies in Traditional Programming Languages to Teaching VHDL

One of the languages available to describe a digital system in FPGA is the VHDL language. Since programming in hardware requires a different way of thinking than developing software, the students face some difficulties when trying to design in VHDL language with the previous and long experiences kept in mind in the learning of software imperative programming. These are its concurrency, parallel and sequential model. Due to the insufficient understanding of these topics, it is difficult for students to master the VHDL language. Analogies change the conceptual system of existing knowledge by linking the known to the unknown and by changing and strengthening their relationships. This study contributes to overcoming the problems that students encounter in the coding of the above-mentioned topics in VHDL language by using their experiences in traditional programming languages through analogies. Analogies were used in an undergraduate embedded systems course to explain complex concepts such as those related to signals, concurrent/parallel process; and to encourage comprehensive projects in digital circuit design. In feedback from students, the discussion and negotiation of analogies seems to minimize confusion and from using inappropriate expressions in using VHDL language

Financial Leverage and Debt Maturity Targeting: International Evidence

We provide evidence on leverage and debt maturity targeting in a large international setting. There are key differences in the relative importance of institutional factors in explaining actual as opposed to target capital structures. Targets and target deviations are plausibly influenced by the institutional environment. Firms from countries with strong legal institutions target lower leverage and higher long-term debt, whereas better-functioning financial systems result in lower target leverage and long-term debt. Financial crisis has shifted the desired structure of the securities toward shorter maturities and has led to more prevalent target deviations. Better institutions significantly decrease the likelihood of target deviations

Global leverage adjustments, uncertainty, and country institutional strength

Using a broad range of uncertainty measures, we show that uncertainty dramatically slows down firms’ adjustments toward their optimal capital structure. At the upper bound, the estimated speed of leverage adjustments almost halves when uncertainty is high. High quality institutions (common law legal origin, more disclosure to congress and/or to the public, and higher public sector ethics) and presidential political systems offset some of the adverse effects of uncertainty on leverage adjustments. The financial crisis has altered the relationships among uncertainty, adjustment speeds, and a country's institutions; more so for countries with weak institutions and parliamentary systems.peerReviewe

An Investigation on Fish Fauna of Saros Bay (Northern Aegean Sea

Bu araştırma Saroz Körfezi'nin balık faunasını tespit etmek için Şubat 2005-Eylül 2008 tarihleri arasında gerçekleştirilmiştir. Çalışmanın sonunda 3 sınıfa ait 22 takım, 59 familyaya ait 124 tür tanımlanmıştır. Bu türlerin 28'i kıkırdaklı, 96'sı ise kemikli balıktır

Saroz Körfezi’ndeki (Kuzey Ege Denizi, Türkiye) kancaağız pisi balığı'nın, citharus linguatula (linnaeus, 1758), total boy-otolit boyu arasındaki ilişki

Bu çalışma Eylül 2006-Eylül 2008 tarihleri arasında, 2000 yılından beri trol avcılığına kapalı olan, Saroz Körfezi’nde gerçekleştirilmiştir. Toplam 477 kancaağız pisi balığının (Citharus linguautula) total boy-otolit boyu arasındaki ilişki incelenmiştir. Total boy-otolit boyu arasındaki ilişki dişi, erkek ve tüm bireyler için, sırasıyla, TB=3,5168OB-0,6269, TB=3,3486OB-0,3553 ve TB=3,6196OB-1,2721’dir