105 research outputs found

    Bimodal Behavior of the Kuroshio and the Gulf Stream

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    Market Discipline in Conglomerate Banks: Is an Internal Allocation of Cost of Capital Necessary as Incentive Device

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    This paper analyzes the optimal conglomeration of bank activities. We show that the effectiveness of market discipline for stand-alone activities (divisions) is of crucial importance for the potential benefits of conglomeration. We find that effective market discipline reduces the potential benefits of conglomeration. With ineffective market discipline of stand-alone activities conglomeration would further undermine market discipline, but may nevertheless be beneficial. In particular, when rents are not too high the diversification benefits of conglomeration may dominate the negative incentive effects. A more competitive environment therefore may induce conglomeration. We also show that introducing internal cost of allocation schemes may create 'internal' market discipline that complements the weak external market discipline of the conglomerate. In this context we show that these schemes should respond to actual risk choices, rather than be limited to anticipated risk choices.http://deepblue.lib.umich.edu/bitstream/2027.42/39515/3/wp125.pd

    Π‘ΠΈΠ½ΠΊΡ€Π΅Ρ‚ΠΈΠ·ΠΌ ΠΊΠ²Π°Π½Ρ‚ΠΈΡ‚Π°Ρ‚ΠΈΠ²Π½ΠΈΡ… ΠΊΠΎΠ½ΡΡ‚Ρ€ΡƒΡŽΠ²Π°Π½ΡŒ (Π½Π° ΠΌΠ°Ρ‚Π΅Ρ€Ρ–Π°Π»Ρ– числівників Π°Π½Π³Π»Ρ–ΠΉΡΡŒΠΊΠΎΡ— ΠΌΠΎΠ²ΠΈ)

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    Π£ статті ΠΎΡΠΌΠΈΡΠ»ΡŽΡ”Ρ‚ΡŒΡΡ явищС синкрСтизму Π½Π° ΠΌΠ°Ρ‚Π΅Ρ€Ρ–Π°Π»Ρ– Π°Π½Π³Π»Ρ–ΠΉΡΡŒΠΊΠΈΡ… ΠΊΠ²Π°Π½Ρ‚ΠΈΡ‚Π°Ρ‚ΠΈΠ²Π½ΠΈΡ… слів, Π½ΡƒΠΌΠ΅Ρ€Π°Π»ΡŒΠ½ΠΈΡ… Ρ– Π΄Π΅Π½ΡƒΠΌΠ΅Ρ€Π°Π»ΡŒΠ½ΠΈΡ… ΡΠ»ΠΎΠ²ΠΎΡΠΏΠΎΠ»ΡƒΡ‡Π΅Π½ΡŒ. ΠœΠ°ΡŽΡ‚ΡŒ місцС порівняння Π· Π΄ΠΈΠΌΠ΅Π½Π·Ρ–ΠΎΠ½Π°Π»ΡŒΠ½ΠΎΡŽ лСксико. Π‘ΠΈΠ½ΠΊΡ€Π΅Ρ‚ΠΈ Ρ€ΠΎΠ·Π³Π»ΡΠ΄Π°ΡŽΡ‚ΡŒΡΡ Π½Π° ΠΌΠ°Ρ‚Π΅Ρ€Ρ–Π°Π»Ρ– синкрСтсСмії. ΠΠΊΡ‚ΡƒΠ°Π»ΡŒΠ½Ρ–ΡΡ‚ΡŒ Ρ‚Π΅ΠΌΠΈ ΠΌΠΎΡ‚ΠΈΠ²ΡƒΡ”Ρ‚ΡŒΡΡ Π·Ρ€ΠΎΡΡ‚Π°ΡŽΡ‡ΠΈΠΌ інтСрСсом ΡƒΡ‡Π΅Π½ΠΈΡ… Π΄ΠΎ Π½ΠΎΠ²ΠΎΡ— Π½Π°ΡƒΠΊΠΎΠ²ΠΎΡ— ΠΏΠ°Ρ€Π°Π΄ΠΈΠ³ΠΌΠΈ – синСргСтики.ΠžΠ±ΡŠΠ΅ΠΊΡ‚ΠΎΠΌ исслСдования являСтся Ρ„Π΅Π½ΠΎΠΌΠ΅Π½ синкрСтизма Π½Π° ΠΌΠ°Ρ‚Π΅Ρ€ΠΈΠ°Π»Π΅ ΠΊΠ²Π°Π½Ρ‚ΠΈΡ‚Π°Ρ‚ΠΈΠ²Π½Ρ‹Ρ… Π΅Π΄ΠΈΠ½ΠΈΡ† Π² модусах языка, Ρ€Π΅Ρ‡ΠΈ ΠΈ Ρ€Π΅Ρ‡Π΅Π²ΠΎΠ³ΠΎ повСдСния (ΠΏΡ€Π΅Π΄ΠΌΠ΅Ρ‚ исслСдования). ЦСль исслСдования состоит Π² осмыслСнии упомянутой ΠΏΠ°Ρ€Π°Π΄ΠΈΠ³ΠΌΡ‹, Π΅Π΅ ΠΈΠ΄Π΅ΠΉ, процСссов самоорганизации ΠΈ саморазвития. Π’ Ρ€Π°Π±ΠΎΡ‚Π΅ Π²Π΅Ρ€ΠΈΡ„ΠΈΡ†ΠΈΡ€ΡƒΡŽΡ‚ΡΡ Π³ΠΈΠΏΠΎΡ‚Π΅Π·Ρ‹: - Π½ΠΎΠΌΠΈΠ½Π°Ρ‚ΠΈΠ²Π½Ρ‹Π΅ Π΅Π΄ΠΈΠ½ΠΈΡ†Ρ‹ ΡΠ²Π»ΡΡŽΡ‚ΡΡ Π±ΠΈΠ»Π°Ρ‚Π΅Ρ€Π°Π»ΡŒΠ½Ρ‹ΠΌΠΈ ΠΈ синкрСтичными; - ΠΈΡ… систСмная организация ΠΈ ΡΠ²ΠΎΠ»ΡŽΡ†ΠΈΡ интСгрируСтся Ρ‚Ρ€ΠΈΠ°Π΄ΠΎΠΉ ΠΌΠ°Ρ‚Π΅Ρ€ΠΈΠ°Π»Π°, энСргии, ΠΈΠ½Ρ„ΠΎΡ€ΠΌΠ°Ρ†ΠΈΠΈ; - основным мСтодологичСским ΠΌΠ΅Ρ…Π°Π½ΠΈΠ·ΠΌΠΎΠΌ являСтся онтогносиологичСский ΠΏΠΎΠ΄Ρ…ΠΎΠ΄ ΠΊ исслСдуСмым Ρ€Π΅Ρ„Π΅Ρ€Π΅Π½Ρ‚Π°ΠΌ. Π¦Π΅Π½Π½Ρ‹ΠΌ Π²ΠΊΠ»Π°Π΄ΠΎΠΌ Π² синСргСтику прСдставляСтся дальнСйшая Ρ€Π°Π·Ρ€Π°Π±ΠΎΡ‚ΠΊΠ° основных ΠΏΠΎΠ»ΠΎΠΆΠ΅Π½ΠΈΠΉ ΠΈ понятий Π½ΠΎΠ²ΠΎΠΉ Π½Π°ΡƒΡ‡Π½ΠΎΠΉ ΠΏΠ°Ρ€Π°Π΄ΠΈΠ³ΠΌΡ‹ – лингвосинСргСтики.The article in question deals with the English quantitative units, i.e. numerals, numeric words, on the one hand, and dimension units – words of weight and measure, on the other hand. This object is dealt with in the endozones of language, speech and speech behaviour. The aim of investigation consists in identification of the markers of systematic arrangement of the paradigm – its selforganization and evolution: - verification of hypotheses that: - bilateral and syncretic; - aspects of words go together; - incorporated subject mater, energy and information of syncretas make the triad go; - ontognosiological method is at work. Topicality of the theme is objectivized by the growing interest to the problem by scientists of this country and abroad. This is a new scientific paradigm (synergetics), let alone many a lacunar items within its domain. Valour scenes remain undiscovered yet and await their solution in terms of mayor ideas and categories. Lacunarity is indebted to the process of cognition, cognized and non-cognized phenomenas. The choise of complex ontognosiological approach is determined by the nature of referents. Missing items come into being due to the problem of nothingness. The syncretas come archaic due to losses in the vocabulary or fall out of concepts. Some words are prohibited by taboo. Some syncretas work in the speech behaviour (silence, hesitation, pauses)

    Optical guided dispersions and subwavelength transmissions in dispersive plasmonic circular holes

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    The light transmission through a dispersive plasmonic circular hole is numerically investigated with an emphasis on its subwavelength guidance. For a better understanding of the effect of the hole diameter on the guided dispersion characteristics, the guided modes, including both the surface plasmon polariton mode and the circular waveguide mode, are studied for several hole diameters, especially when the metal cladding has a plasmonic frequency dependency. A brief comparison is also made with the guided dispersion characteristics of a dispersive plasmonic gap [K. Y. Kim, et al., Opt. Express 14, 320-330 (2006)], which is a planar version of the present structure, and a circular waveguide with perfect electric conductor cladding. Finally, the modal behavior of the first three TM-like principal modes with varied hole diameters is examined for the same operating mode.Comment: 20 pages, 5 figures, 1 tabl

    Finishing the euchromatic sequence of the human genome

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    The sequence of the human genome encodes the genetic instructions for human physiology, as well as rich information about human evolution. In 2001, the International Human Genome Sequencing Consortium reported a draft sequence of the euchromatic portion of the human genome. Since then, the international collaboration has worked to convert this draft into a genome sequence with high accuracy and nearly complete coverage. Here, we report the result of this finishing process. The current genome sequence (Build 35) contains 2.85 billion nucleotides interrupted by only 341 gaps. It covers ∼99% of the euchromatic genome and is accurate to an error rate of ∼1 event per 100,000 bases. Many of the remaining euchromatic gaps are associated with segmental duplications and will require focused work with new methods. The near-complete sequence, the first for a vertebrate, greatly improves the precision of biological analyses of the human genome including studies of gene number, birth and death. Notably, the human enome seems to encode only 20,000-25,000 protein-coding genes. The genome sequence reported here should serve as a firm foundation for biomedical research in the decades ahead
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