Multinational enterprises, cross-border acquisitions, and government policy

This paper analyzes the optimality of policy specifications used to regulate the acquisition and operation of local firms by multinational enterprises (MNE). We emphasize the consequence of such regulation on the price of the domestic firm in the market for corporate control. We show that it is optimal to impose ceilings on foreign ownership of domestic firms when the government's objective is to maximize domestic shareholder profits. While the optimal ceiling is high enough for the MNE to gain control of the domestic firm, it nevertheless influences the price that the MNE must pay for the domestic firm's shares to the advantage of the domestic shareholders. Restrictions on transfer pricing are either irrelevant or strictly suboptimal. The consequences of alternative specifications of the government's objective function are also analyzed.Acquisition; Control; Multinational Enterprises; Transfer pricing

Basis functions for concave polygons

AbstractPolynomials suffice as finite element basis functions for triangles, parallelograms, and some other elements of little practical importance. Rational basis functions extend the range of allowed elements to the much wider class of well-set algebraic elements, where well-set is a convexity type constraint. The extension field from R(x,y) to R(x,y,x2+y2) removes this quadrilateral constraint as described in Chapter 8 of [E.L. Wachspress, A Rational Finite Element Basis, Academic Press, 1975]. The basis function construction described there is clarified here, first for concave quadrilaterals and then for concave polygons. Its application is enhanced by the GADJ algorithm [G. Dasgupta, E.L. Wachspress, The adjoint for an algebraic finite element, Computers and Mathematics with Applications, doi:10.1016/j.camwa.2004.03.021] for finding the denominator polynomial common to all the basis functions

Skin mediated human papillomavirus infection in breast: A report of four cases

To address the ambiguity of different modes of human papillomavirus (HPV) transmission in breast, the immunohistochemical expression of two oncoproteins E6/E7 of HPV16 was analyzed in primary breast cancer (BC) and adjacent normal skin of 4 samples. The patients were of 35–55 years old having no previous history of cancer. The E6/E7 expressions were evident in both skin and BC. In skin, high/moderate cytoplasmic expressions of E6/E7 proteins were seen in all samples, whereas in BC, high/moderate cytoplasmic expressions of the proteins were observed in 2–3 samples. Thus, it seems that HPV infection in the breast may occur through the skin

Blasting Vibration Safety Criterion Analysis with Equivalent Elastic Boundary: Based on Accurate Loading Model

Copyright © 2015 Qingwen Li et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.In the tunnel and underground space engineering, the blasting wave will attenuate from shock wave to stress wave to elastic seismic wave in the host rock. Also, the host rock will form crushed zone, fractured zone, and elastic seismic zone under the blasting loading and waves. In this paper, an accurate mathematical dynamic loading model was built. And the crushed zone as well as fractured zone was considered as the blasting vibration source thus deducting the partial energy for cutting host rock. So this complicated dynamic problem of segmented differential blasting was regarded as an equivalent elastic boundary problem by taking advantage of Saint-Venant’s Theorem. At last, a 3D model in finite element software FLAC3D accepted the constitutive parameters, uniformly distributed mutative loading, and the cylindrical attenuation law to predict the velocity curves and effective tensile curves for calculating safety criterion formulas of surrounding rock and tunnel liner after verifying well with the in situ monitoring data

Muon-Spin Rotation Spectra in the Mixed Phase of High-T_c Superconductors : Thermal Fluctuations and Disorder Effects

We study muon-spin rotation (muSR) spectra in the mixed phase of highly anisotropic layered superconductors, specifically Bi_2+xSr_2-xCaCu_2O_8+delta (BSCCO), by modeling the fluid and solid phases of pancake vortices using liquid-state and density functional methods. The role of thermal fluctuations in causing motional narrowing of muSR lineshapes is quantified in terms of a first-principles theory of the flux-lattice melting transition. The effects of random point pinning are investigated using a replica treatment of liquid state correlations and a replicated density functional theory. Our results indicate that motional narrowing in the pure system, although substantial, cannot account for the remarkably small linewidths obtained experimentally at relatively high fields and low temperatures. We find that satisfactory agreement with the muSR data for BSCCO in this regime can be obtained through the ansatz that this ``phase'' is characterized by frozen short-range positional correlations reflecting the structure of the liquid just above the melting transition. This proposal is consistent with recent suggestions of a ``pinned liquid'' or ``glassy'' state of pancake vortices in the presence of pinning disorder. Our results for the high-temperature liquid phase indicate that measurable linewidths may be obtained in this phase as a consequence of density inhomogeneities induced by the pinning disorder. The results presented here comprise a unified, first-principles theoretical treatment of muSR spectra in highly anisotropic layered superconductors in terms of a controlled set of approximations.Comment: 50 pages Latex file, including 10 postscript figure

Matrix Model, Noncommutative Gauge Theory and the Tachyon Potential

The D2brane-anti-D2brane system is described in the framework of BFSS Matrix model and noncommutative (NC) gauge theory. The physical spectrum of fields is found by appropriate gauge fixing. The exact tachyon potential is computed in terms of these variables and an exact description of tachyon condensation provided. We exhibit multiple vortex production with increasing topological charge and interpret this as gradual conversion of the brane-antibrane system to $D0$ branes. The entire analysis is carried out using the known hamiltonian of the Matrix model, which is equivalent to the hamiltonian of the NC gauge theory. We identify the supersymmetric ground state of this hamiltonian with the tachyonic vacuum; Sen's conjecture about the latter follows simply from this identification. We also find two types of closed string excitations, solitonic (a la Dijkgraaf, Verlinde and Verlinde) as well as perturbative, around the tachyonic vacuum.Comment: 26 pages, latex, (v2) convention about \alpha' made uniform, brane-antibrane tension matched with string theory, references adde

Physics Potential of the ICAL detector at the India-based Neutrino Observatory (INO)

The upcoming 50 kt magnetized iron calorimeter (ICAL) detector at the India-based Neutrino Observatory (INO) is designed to study the atmospheric neutrinos and antineutrinos separately over a wide range of energies and path lengths. The primary focus of this experiment is to explore the Earth matter effects by observing the energy and zenith angle dependence of the atmospheric neutrinos in the multi-GeV range. This study will be crucial to address some of the outstanding issues in neutrino oscillation physics, including the fundamental issue of neutrino mass hierarchy. In this document, we present the physics potential of the detector as obtained from realistic detector simulations. We describe the simulation framework, the neutrino interactions in the detector, and the expected response of the detector to particles traversing it. The ICAL detector can determine the energy and direction of the muons to a high precision, and in addition, its sensitivity to multi-GeV hadrons increases its physics reach substantially. Its charge identification capability, and hence its ability to distinguish neutrinos from antineutrinos, makes it an efficient detector for determining the neutrino mass hierarchy. In this report, we outline the analyses carried out for the determination of neutrino mass hierarchy and precision measurements of atmospheric neutrino mixing parameters at ICAL, and give the expected physics reach of the detector with 10 years of runtime. We also explore the potential of ICAL for probing new physics scenarios like CPT violation and the presence of magnetic monopoles.Comment: 139 pages, Physics White Paper of the ICAL (INO) Collaboration, Contents identical with the version published in Pramana - J. Physic