Family Control and Financing Decisions

Empirical studies examining the financing decisions of the firm focus exclusively on publicly held firms, not family-controlled firms despite their economic importance. This study investigates the external financing behavior of family-controlled firms, using a comprehensive sample of 777 large European firms during the period 1998 to 2008. We document that, unlike nonfamily-controlled firms, the external financing decisions of family-controlled firms are influenced by control incentives and information asymmetry considerations. We find that family firms have a strong preference for debt financing, a noncontrol diluting security, while they are more reluctant to raise capital through equity offerings in comparison to nonfamily firms. We also find that credit markets, view family firms as more risk-averse and that family firms invest more in low-risk (fixed-asset capital expenditures (CAPEX)), than in high-risk investments (R&D expenditures) confirming their non-risk seeking behavior.Family firms, financing decisions, equity issues, debt issues, capital structure.

Combination Anti-Leukimic Therapy by Utilizing Suramin and Biologic Response Modifiers

A method of treating leukemia which includes administering an effective amount of composition comprising suramin and a biological response modifier, wherein the suramin and the biological response modifier show synergistic or additive anti-leukemic activity. A pharmaceutical composition is also disclosed

THE NON-RECOGNITION LAW OF THE UNITED STATES

We speak of nations as being equal, independent and sovereign within the fixed confines of their physical boundaries. As aptly stated by our Supreme Court, in the civilized world of today, Every sovereign State is bound to respect the independence of every other sovereign State, and the courts of one country will not sit in judgment on the acts of the government of another done within its own territory

Graviton emission from simply rotating Kerr-de Sitter black holes: Transverse traceless tensor graviton modes

In this article we present results for tensor graviton modes (in seven dimensions and greater, $n\geq 3$) for greybody factors of Kerr-dS black holes and for Hawking radiation from simply rotating (n+4)-dimensional Kerr black holes. Although there is some subtlety with defining the Hawking temperature of a Kerr-dS black hole, we present some preliminary results for emissions assuming the standard Hawking normalization and a Bousso-Hawking-like normalization.Comment: 12 pages, 18 figure

Divergent Opinions and Value Stock Performance

Those who believe that capital markets—that is, markets for stocks and bonds—operate efficiently and asset prices fully reflect all publicly available information are engaged in an ongoing debate about the exact interpretation of the “value premium” with those who reject this view. Value premium refers to the superior returns generated by the purchase of value stocks relative to growth, or glamour, stocks. Rationalists, the group believing in market efficiency, argue that because value stocks are fundamentally riskier than growth stocks, the value premium is compensation for bearing risk. Behavioralists, the group arguing that market asset prices don’t reflect all publicly available information, however, claim that value stocks produce higher returns mostly because investors consistently overestimate the future earnings of growth stocks relative to value stocks. The essence of this argument is that investors are excessively pessimistic about value stocks because they tie their earnings expectations to past earnings. That is, investors make systematic errors in predicting future growth in earnings for value stocks, and investors’ excessive pessimism about these stocks causes the superior performance of value stocks relative to growth stocks. This behavioral explanation of the value premium is known as the “extrapolation” or “errors-in-expectations” explanation, and many researchers support it

Black hole quasinormal modes using the asymptotic iteration method

In this article we show that the asymptotic iteration method (AIM) allows one to numerically find the quasinormal modes of Schwarzschild and Schwarzschild de Sitter (SdS) black holes. An added benefit of the method is that it can also be used to calculate the Schwarzschild anti-de Sitter (SAdS) quasinormal modes for the case of spin zero perturbations. We also discuss an improved version of the AIM, more suitable for numerical implementation.Comment: 10 pages, LaTeX; references added; substantially expanded versio

Split fermion quasi-normal modes

In this paper we use the conformal properties of the spinor field to show how we can obtain the fermion quasi-normal modes for a higher dimensional Schwarzschild black hole. These modes are of interest in so called split fermion models, where quarks and leptons are required to exist on different branes in order to keep the proton stable. As has been previously shown, for brane localized fields, the larger the number of dimensions the faster the black hole damping rate. Moreover, we also present the analytic forms of the quasi-normal frequencies in both the large angular momentum and the large mode number limits.Comment: 11 pages, 7 figures, version 2 added reference

Angular Eigenvalues of Higher-Dimensional Kerr-(A)dS Black Holes with Two Rotations

In this paper, following the work of Chen, L\"u and Pope, we present the general metric for Kerr-(A)dS black holes with two rotations. The corresponding Klein-Gordon equation is separated explicitly, from which we develop perturbative expansions for the angular eigenvalues in powers of the rotation parameters with $D\geq 6$.Comment: 10 pages, no figures. To appear in the proceedings of 2011 Shanghai Asia-Pacific School and Workshop on Gravitatio

Bulk dominated fermion emission on a Schwarzschild background

Using the WKBJ approximation, and the Unruh method, we obtain semi-analytic expressions for the absorption probability (in all energy regimes) for Dirac fermions on a higher dimensional Schwarzschild background. We present an analytic expression relating the absorption probability to the absorption cross-section, and then use these results to plot the emission rates to third order in the WKBJ approximation. The set-up we use is sufficiently general such that it could also easily be applied to any spherically symmetric background in $d$-dimensions. Our results lead to the interesting conclusion that for $d>5$ bulk fermion emission dominates brane localised emission. This is an example contrary to the conjecture that black holes radiate mainly on the brane.Comment: 13 pages, 3 figure