On valuing corporate debt with the volatility of corporate assets evolving according to an Ornstein-Uhlenbeck process

In this paper the problem of valuing corporate debt with possibility of default is considered. It is assumed that the volatility of the value of a firm's assets evolves according to an Ornstein-Uhlenbeck process and default occurs only if the value of corporate assets falls below an exogenously specified, time dependent barrier. In the case of a particular choice of default barrier the explicit formulas for the present value of a corporate debt, the total value of the firm, the value of equity, the expected default time and the variation of default time are derived.Coporate debt, Ornstein-Uhlenbeck process, default time

Contribution to the biology and geographical distribution of Aegagropila sauteri (Nees) Kutz. [Translation of: Gidrobiologicheskie Zhurnal, Kiev 4(3), 68-69, 1967]

Aegagropila sauteri is a peculiar green algae, the branched thalli of which, according to the amount of growth, forms velvety spheres of a diameter of 3-4, sometimes to 5-6 cm. and bigger. Investigators attribute it to a special genus of green algae. The authors examine Aegagropila sauteri in Lake Markakol (Kazakhstan)