4,745 research outputs found

    What Drives Fixed Asset Holding and Risk-Adjusted Performance of Corporate in China? An Empirical Analysis

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    This paper attempts to shed light on the over-investment debate by investigating listed firms in China. Firms with higher level of fixed asset holding, higher level of overhead expenses, and being covered by the tax-favor policy in China are found to be associated with a lower risk-adjusted performance. In addition, the tax-favor policy itself encourages fixed asset investment. In contrast to some of the previous literature, state-ownership of firms, dividend policy, and ownership concentration are not robust predictors of risk-adjusted performance, and debt level, managerial shareholding, and profit per unit of asset are not robust predictors of fixed asset investment.fixed asset holding, corporate real estate, over-investment theory, state-ownership, tax-favor policy

    Branching ratios and direct CP asymmetries in DPPD\to PP decays

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    We propose a theoretical framework for analyzing two-body nonleptonic DD meson decays, based on the factorization of short-distance (long-distance) dynamics into Wilson coefficients (hadronic matrix elements of four-fermion operators). The parametrization of hadronic matrix elements in terms of several nonperturbative quantities is demonstrated for the DPPD\to PP decays, PP denoting a pseudoscalar meson. We consider the evolution of Wilson coefficients with energy release in individual decay modes, and the Glauber strong phase associated with the pion in nonfactorizable annihilation amplitudes, that is attributed to the unique role of the pion as a Nambu-Goldstone boson and a quark-anti-quark bound state simultaneously. The above inputs improve the global fit to the branching ratios involving the η\eta' meson, and resolves the long-standing puzzle from the D0π+πD^0\to\pi^+\pi^- and D0K+KD^0\to K^+K^- branching ratios, respectively. Combining short-distance dynamics associated with penguin operators and the hadronic parameters determined from the global fit to branching ratios, we predict direct CP asymmetries, to which the quark loops and the scalar penguin annihilation give dominant contributions. In particular, we predict ΔACPACP(K+K)ACP(π+π)=1.00×103\Delta A_{\rm CP}\equiv A_{\rm CP}(K^+K^-)-A_{\rm CP}(\pi^+\pi^-)=-1.00\times 10^{-3}, lower than the LHCb and CDF data.Comment: 17 pages, 3 figures, matches published versio

    What can we learn from Ba1(1260)(b1(1235))π(K)B\to a_1(1260)(b_1(1235))\pi(K) decays?

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    We investigate the Ba1(1260)(b1(1235))π(K)B\to a_1(1260)(b_1(1235))\pi(K) decays under the factorization scheme and find many discrepancies between theoretical predictions and the experimental data. In the tree dominated processes, large contributions from color-suppressed tree diagrams are required in order to accommodate with the large decay rates of Ba10πB^-\to a_1^0\pi^- and Ba1π0B^-\to a_1^-\pi^0. For Bˉ0(a1+,b1+)K\bar B^0\to (a_1^+, b_1^+)K^- decays which are both induced by bsb\to s transition, theoretical predictions on their decay rates are larger than the data by a factor of 2.8 and 5.5, respectively. Large electro-weak penguins or some new mechanism are expected to explain the branching ratios of Bb10KB^-\to b_1^0K^- and Ba1Kˉ0B^-\to a_1^-\bar K^0. The soft-collinear-effective-theory has the potential to explain large decay rates of Ba10πB^-\to a_1^0\pi^- and Ba1π0B^-\to a_1^-\pi^0 via a large hard-scattering form factor ζJBa1\zeta_J^{B\to a_1}. We will also show that, with proper charming penguins, predictions on the branching ratios of Bˉ0(a1+,b1+)K\bar B^0\to (a_1^+, b_1^+)K^- can also be consistent with the data.Comment: 16 pages, no figur

    A new partition of unity finite element free from the linear dependence problem and possessing the delta property

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    Partition-of-unity based finite element methods (PUFEMs) have appealing capabilities for p-adaptivity and local refinement with minimal or even no remeshing of the problem domain. However, PUFEMs suffer from a number of problems that practically limit their application, namely the linear dependence (LD) problem, which leads to a singular global stiffness matrix, and the difficulty with which essential boundary conditions can be imposed due to the lack of the Kronecker delta property. In this paper we develop a new PU-based triangular element using a dual local approximation scheme by treating boundary and interior nodes separately. The present method is free from the LD problem and essential boundary conditions can be applied directly as in the FEM. The formulation uses triangular elements, however the essential idea is readily extendable to other types of meshed or meshless formulation based on a PU approximation. The computational cost of the present method is comparable to other PUFEM elements described in the literature. The proposed method can be simply understood as a PUFEM with composite shape functions possessing the delta property and appropriate compatibility

    Simulation of phosphorus implantation into silicon with a single-parameter electronic stopping power model

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    We simulate dopant profiles for phosphorus implantation into silicon using a new model for electronic stopping power. In this model, the electronic stopping power is factorized into a globally averaged effective charge Z1*, and a local charge density dependent electronic stopping power for a proton. There is only a single adjustable parameter in the model, namely the one electron radius rs0 which controls Z1*. By fine tuning this parameter, we obtain excellent agreement between simulated dopant profiles and the SIMS data over a wide range of energies for the channeling case. Our work provides a further example of implant species, in addition to boron and arsenic, to verify the validity of the electronic stopping power model and to illustrate its generality for studies of physical processes involving electronic stopping.Comment: 11 pages, 7 figures. See http://bifrost.lanl.gov/~reed
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