Three Essays on Financing and Investment Decisions in Small U.s. Firms

This dissertation consists of three essays related to the financing and investment decisions of small U.S. firms. Each of the essays presents interesting and original empirical research questions, with hypotheses well-grounded in finance and economic theories. The empirical methodology, data and models that are used to test the hypotheses are presented for each essay. The three empirical questions addressed are (1) Why don\u27t small firms take every trade credit discount offered to them? (2) What determines the cash holdings of small firms? and (3) Why do small firms make investments unrelated to their core business? This dissertation answers these questions by analyzing the data available in the National Survey of Small Business Firms (NSSBF) conducted in 1998 and 200

Changes in Metallothionein Levels in Freshwater Mussels Exposed to Urban Wastewaters: Effects from Exposure to Heavy Metals?

Municipal effluents are complex mixtures of compounds such as heavy metals, aromatic and aliphatic hydrocarbons, and micro-organisms and are released in aquatic ecosystems. The purpose of this study was to verify whether changes in metallothioneins (MT) were associated with the accumulation of labile metals in tissue of freshwater mussels exposed to the dispersion plume of a major municipal effluent. Mussels were placed in experimental cages deployed at sites 1.5 km upstream, 8 km downstream and 12 km downstream of the outfall of a major, primary-treated municipal effluent in the St. Lawrence River (Québec, Canada). Mussels were analysed for MT and labile zinc levels in their gonads, gills and digestive glands. Lipogenic enzyme (isocitrate and glucose-6-phosphate dehydrogenase) and arachidonic acid cyclooxygenase (COX) activities were also measured in gonad and gill tissues. Although MT was induced in all the tissues examined, the results showed that labile zinc levels were significantly reduced in gill and gonad tissues, with an increase observed only at the 12 km downstream site in the digestive gland. COX activity was readily induced in gills and gonads. Glucose-6-phosphate dehydrogenase activity was reduced at both downstream sites, but isocitrate dehydrogenase activity was significantly induced at the farthest (12 km) site. Analysis of covariance revealed that MT levels in gills were more influenced by COX activity than with distance in the dispersion plume and was negatively correlated with labile zinc levels. In conclusion, MT induction was inversely related to the levels of labile zinc but positively so with the inflammation biomarker COX. Hence, the induction of MT in mussels exposed to the municipal effluent of a large city appears to be associated with either inflammatory processes or as compensation for the loss of labile essential metals. We propose that the simple and complimentary parameters of labile zinc and COX evaluations be used to link MT induction with divalent heavy metal exposure in environmental studies dealing with various type of contaminants in such complex contaminant mixture effluents

TreeDomViewer: a tool for the visualization of phylogeny and protein domain structure

Phylogenetic analysis and examination of protein domains allow accurate genome annotation and are invaluable to study proteins and protein complex evolution. However, two sequences can be homologous without sharing statistically significant amino acid or nucleotide identity, presenting a challenging bioinformatics problem. We present TreeDomViewer, a visualization tool available as a web-based interface that combines phylogenetic tree description, multiple sequence alignment and InterProScan data of sequences and generates a phylogenetic tree projecting the corresponding protein domain information onto the multiple sequence alignment. Thereby it makes use of existing domain prediction tools such as InterProScan. TreeDomViewer adopts an evolutionary perspective on how domain structure of two or more sequences can be aligned and compared, to subsequently infer the function of an unknown homolog. This provides insight into the function assignment of, in terms of amino acid substitution, very divergent but yet closely related family members. Our tool produces an interactive scalar vector graphics image that provides orthological relationship and domain content of proteins of interest at one glance. In addition, PDF, JPEG or PNG formatted output is also provided. These features make TreeDomViewer a valuable addition to the annotation pipeline of unknown genes or gene products. TreeDomViewer is available at

A discontinuous finite element baroclinic marine model on unstructured prismatic meshes: I. Space discretization

We describe the space discretization of a three-dimensional baroclinic finite element model, based upon a discontinuous Galerkin method, while the companion paper (Comblen et al. 2010a) describes the discretization in time. We solve the hydrostatic Boussinesq equations governing marine flows on a mesh made up of triangles extruded from the surface toward the seabed to obtain prismatic three-dimensional elements. Diffusion is implemented using the symmetric interior penalty method. The tracer equation is consistent with the continuity equation. A Lax–Friedrichs flux is used to take into account internal wave propagation. By way of illustration, a flow exhibiting internal waves in the lee of an isolated seamount on the sphere is simulated. This enables us to show the advantages of using an unstructured mesh, where the resolution is higher in areas where the flow varies rapidly in space, the mesh being coarser far from the region of interest. The solution exhibits the expected wave structure. Linear and quadratic shape functions are used, and the extension to higher-order discretization is straightforward

Charge-Induced Fragmentation of Sodium Clusters

The fission of highly charged sodium clusters with fissilities X>1 is studied by {\em ab initio} molecular dynamics. Na_{24}^{4+} is found to undergo predominantly sequential Na_{3}^{+} emission on a time scale of 1 ps, while Na_{24}^{Q+} (5 \leq Q \leq 8) undergoes multifragmentation on a time scale \geq 0.1 ps, with Na^{+} increasingly the dominant fragment as Q increases. All singly-charged fragments Na_{n}^{+} up to size n=6 are observed. The observed fragment spectrum is, within statistical error, independent of the temperature T of the parent cluster for T \leq 1500 K. These findings are consistent with and explain recent trends observed experimentally.Comment: To appear in Physical Review Letter

Learning and memory and its relationship with the lateralization of epileptic focus in subjects with temporal lobe epilepsy

Background : In medial temporal lobe epilepsy (MTLE), previous studies addressing the hemispheric laterality of epileptogenic focus and its relationship with learning and memory processes have reported controversial findings. Objective : To compare the performance of MTLE patients according to the location of the epileptogenic focus on the left (MTLEL) or right temporal lobe (MTLER) on tasks of episodic learning and memory for verbal and visual content. Methods : One hundred patients with MTLEL and one hundred patients with MTLER were tested with the following tasks: the Rey Auditory Verbal Learning Test (RAVLT) and the Logical Memory-WMS-R to evaluate verbal learning and memory; and the Rey Visual Design Learning Test (RVDLT) and the Visual Reproduction-WMS-R to evaluate visual learning and memory. Results : The MTLEL sample showed significantly worse performance on the RAVLT (p < 0.005) and on the Logical Memory tests (p < 0.01) than MTLER subjects. However, there were no significant between-group differences in regard to the visual memory tests. Discussion : Our findings suggest that verbal learning and memory abilities are dependent on the structural and functional integrity of the left temporal lobe, while visual abilities are less dependent on the right temporal lobe.Contexto : Estudos anteriores abordando a lateralidade hemisférica de foco epiléptico na epilepsia do lobo temporal mesial (ELTM) e sua relação com os processos de aprendizagem e memória têm relatado resultados controversos. Objetivo : Comparar o desempenho de pacientes com ELTM de acordo com a localização do foco epiléptico à esquerda (ELTME) ou à direita (ELTMD) em tarefas de aprendizagem e memória episódica para conteúdo verbal e visual. Métodos: Cem pacientes com ELTME e cem pacientes com ELTMD foram avaliados com os seguintes testes: Teste de Aprendizagem Auditiva Verbal de Rey (RAVLT) e Memória Lógica – WMS-R para avaliar aprendizagem e memória verbal e o Teste de Aprendizagem Visual para Desenhos de Rey (RVDLT) e Reprodução Visual – WMS-R para avaliar a aprendizagem e memória visual. Resultados : A amostra com ELTME mostrou desempenho significativamente pior no RAVLT (p < 0,005) e na Memória Lógica (p < 0,01) em comparação aos indivíduos ELTMD. No entanto, não houve diferenças significativas entre os grupos no que diz respeito aos testes de aprendizagem e memória visual. Conclusão : Nossos resultados sugerem que a aprendizagem e a memória verbais são dependentes da integridade estrutural e funcional do lobo temporal esquerdo, enquanto as capacidades de aprendizagem e memória visual são menos dependentes do lobo temporal direito

Identifying Behavioral Health Needs of Individuals Screened at the Booking Counter of Montgomery County Jail

Background: Many of the individuals who are released from incarceration are re-arrested and re-incarcerated within three years of release. Challenges that predispose individuals to re-arrest and re-incarceration include lack of education, employment opportunities, decent affordable housing, and treatment for substance use disorders (SUD) and/or mental illness. This report summarizes the behavioral health needs of newly arrested individuals in Montgomery County, Ohio.Methods: For this project, 4,809 adult individuals arrested for non-violent crimes received behavioral health screening and case management at booking in the Montgomery County Jail. Criminogenic assessment using the Risk-Needs-Responsivity (RNR) tool was conducted with 484 arrestees. Descriptive statistics and chi square statistics were calculated for gender, race, referrals made, education level, employment status, housing status, alcohol and other drug use, and mental health status.Results: As a group, the arrestees were undereducated, underemployed, and homeless. Based on RNR assessment, 67% had an SUD,and 60% required mental health treatment. Significant gender and racial differences were found among the arrestees, with womensignificantly more likely to have SUD and mental health issues.Conclusions: Individuals arrested and booked into the Montgomery County Jail experience a complex interaction among mental health, poly-substance use, medical, employment, and housing needs that must be addressed in a comprehensive and coordinated funding manner. This interactive complexity of issues demand a response from an integrated service delivery system that would best benefit the person served and the community

Routine delivery of artemisinin-based combination treatment at fixed health facilities reduces malaria prevalence in Tanzania: an observational study

BACKGROUND Artemisinin-based combination therapy (ACT) has been promoted as a means to reduce malaria transmission due to their ability to kill both asexual blood stages of malaria parasites, which sustain infections over long periods and the immature derived sexual stages responsible for infecting mosquitoes and onward transmission. Early studies reported a temporal association between ACT introduction and reduced malaria transmission in a number of ecological settings. However, these reports have come from areas with low to moderate malaria transmission, been confounded by the presence of other interventions or environmental changes that may have reduced malaria transmission, and have not included a comparison group without ACT. This report presents results from the first large-scale observational study to assess the impact of case management with ACT on population-level measures of malaria endemicity in an area with intense transmission where the benefits of effective infection clearance might be compromised by frequent and repeated re-infection. METHODS A pre-post observational study with a non-randomized comparison group was conducted at two sites in Tanzania. Both sites used sulphadoxine-pyrimethamine (SP) monotherapy as a first-line anti-malarial from mid-2001 through 2002. In 2003, the ACT, artesunate (AS) co-administered with SP (AS + SP), was introduced in all fixed health facilities in the intervention site, including both public and registered non-governmental facilities. Population-level prevalence of Plasmodium falciparum asexual parasitaemia and gametocytaemia were assessed using light microscopy from samples collected during representative household surveys in 2001, 2002, 2004, 2005 and 2006. FINDINGS Among 37,309 observations included in the analysis, annual asexual parasitaemia prevalence in persons of all ages ranged from 11% to 28% and gametocytaemia prevalence ranged from <1% to 2% between the two sites and across the five survey years. A multivariable logistic regression model was fitted to adjust for age, socioeconomic status, bed net use and rainfall. In the presence of consistently high coverage and efficacy of SP monotherapy and AS + SP in the comparison and intervention areas, the introduction of ACT in the intervention site was associated with a modest reduction in the adjusted asexual parasitaemia prevalence of 5 percentage-points or 23% (p < 0.0001) relative to the comparison site. Gametocytaemia prevalence did not differ significantly (p = 0.30). INTERPRETATION The introduction of ACT at fixed health facilities only modestly reduced asexual parasitaemia prevalence. ACT is effective for treatment of uncomplicated malaria and should have substantial public health impact on morbidity and mortality, but is unlikely to reduce malaria transmission substantially in much of sub-Saharan Africa where individuals are rapidly re-infected.Financial support for IMPACT-Tz came primarily from CDC, the U.S. Agency for International Development and the Wellcome Trust

Parallax and Luminosity Measurements of an L Subdwarf

We present the first parallax and luminosity measurements for an L subdwarf, the sdL7 2MASS J05325346+8246465. Observations conducted over three years by the USNO infrared astrometry program yield an astrometric distance of 26.7+/-1.2 pc and a proper motion of 2.6241+/-0.0018"/yr. Combined with broadband spectral and photometric measurements, we determine a luminosity of log(Lbol/Lsun) = -4.24+/-0.06 and Teff = 1730+/-90 K (the latter assuming an age of 5-10 Gyr), comparable to mid-type L field dwarfs. Comparison of the luminosity of 2MASS J05325346+8246465 to theoretical evolutionary models indicates that its mass is just below the sustained hydrogen burning limit, and is therefore a brown dwarf. Its kinematics indicate a ~110 Myr, retrograde Galactic orbit which is both eccentric (3 <~ R <~ 8.5 kpc) and extends well away from the plane (Delta_Z = +/-2 kpc), consistent with membership in the inner halo population. The relatively bright J-band magnitude of 2MASS J05325346+8246465 implies significantly reduced opacity in the 1.2 micron region, consistent with inhibited condensate formation as previously proposed. Its as yet unknown subsolar metallicity remains the primary limitation in constraining its mass; determination of both parameters would provide a powerful test of interior and evolutionary models for low-mass stars and brown dwarfs.Comment: Accepted to ApJ 10 September 2007; 13 pages, 5 figures, 3 tables, formatted in emulateapj styl