1,311 research outputs found
Corporate Inefficiency and the Risk of Takeover
The present study, using the Cox proportional hazard model, suggests a firm faces a significantly higher risk of takeover if its cost performance lags behind its industry benchmark. The effects of variables capturing cost inefficiency on the risk of takeover appear to be remarkably stable over the nearly two decades spanned by the sample, while the effect of the variables measuring the risk-size relationship indicate temporal changes. Once cost inefficiency is accounted for, the paper fails to find consistent evidence for the effects of other conventionally used performance measures, such as profitability and q, on the risk of takeover.
Universal transport in 2D granular superconductors
The transport properties of quench condensed granular superconductors are
presented and analyzed. These systems exhibit transitions from insulating to
superconducting behavior as a function of inter-grain spacing.
Superconductivity is characterized by broad transitions in which the resistance
drops exponentially with reducing temperature. The slope of the log R versus T
curves turns out to be universaly dependent on the normal state film resistance
for all measured granular systems. It does not depend on the material, critical
temperature, geometry, or experimental set-up. We discuss possible physical
scenarios to explain these findings.Comment: 4 pages, 3 figure
Subgap anomaly and above-energy-gap structure in chains of diffusive SNS junctions
We present the results of low-temperature transport measurements on chains of
superconductor--normal-constriction--superconductor (SNS) junctions fabricated
on the basis of superconducting PtSi film. A comparative study of the
properties of the chains, consisting of 3 and 20 SNS junctions in series, and
single SNS junctions reveals essential distinctions in the behavior of the
current-voltage characteristics of the systems: (i) the gradual decrease of the
effective suppression voltage for the excess conductivity observed at zero bias
as the quantity of the SNS junctions increases, (ii) a rich fine structure on
the dependences dV/dI-V at dc bias voltages higher than the superconducting gap
and corresponding to some multiples of 2\Delta/e. A model to explain this
above-energy-gap structure based on energy relaxation of electron via
Cooper-pair-breaking in superconducting island connecting normal metal
electrods is proposed.Comment: RevTex, 5 pages, 4 figure
Maximum Likelihood Estimator for Hidden Markov Models in continuous time
The paper studies large sample asymptotic properties of the Maximum
Likelihood Estimator (MLE) for the parameter of a continuous time Markov chain,
observed in white noise. Using the method of weak convergence of likelihoods
due to I.Ibragimov and R.Khasminskii, consistency, asymptotic normality and
convergence of moments are established for MLE under certain strong ergodicity
conditions of the chain.Comment: Warning: due to a flaw in the publishing process, some of the
references in the published version of the article are confuse
Establishing spin-network topologies by repeated projective measurements
It has been recently shown that in quantum systems, the complex time
evolution typical of many-bodied coupled networks can be transformed into a
simple, relaxation-like dynamics, by relying on periodic dephasings of the
off-diagonal density matrix elements. This represents a case of "quantum Zeno
effects", where unitary evolutions are inhibited by projective measurements. We
present here a novel exploitation of these effects, by showing that a
relaxation-like behaviour is endowed to the polarization transfers occurring
within a N-spin coupled network. Experimental implementations and coupling
constant determinations for complex spin-coupling topologies, are thus
demonstrated within the field of liquid-state nuclear magnetic resonance (NMR).Comment: 4+ pages, 3 figure
Two-dimensional array of diffusive SNS junctions with high-transparent interfaces
We report the first comparative study of the properties of two-dimensional
arrays and single superconducting film - normal wire - superconducting film
(SNS) junctions. The NS interfaces of our SNS junctions are really high
transparent, for superconducting and normal metal parts are made from the same
material (superconducting polycrystalline PtSi film). We have found that the
two-dimensional arrays reveal some novel features: (i) the significant
narrowing of the zero bias anomaly (ZBA) in comparison with single SNS
junctions, (ii) the appearance of subharmonic energy gap structure (SGS), with
up to n=16 (eV=\pm 2\Delta/n), with some numbers being lost, (iii) the
transition from 2D logarithmic weak localization behavior to metallic one. Our
experiments show that coherent phenomena governed by the Andreev reflection are
not only maintained over the macroscopic scale but manifest novel pronounced
effects as well. The behavior of the ZBA and SGS in 2D array of SNS junctions
strongly suggests that the development of a novel theoretical approach is
needed which would self-consistently take into account the distribution of the
currents, the potentials, and the superconducting order parameter.Comment: RevTex, 5 pages, 5 figure
Privatization and State Capacity in Postcommunist Society
Economists have used cross-national regression analysis to argue that postcommunist economic failure is the result of inadequate adherence liberal economic policies. Sociologists have relied on case study data to show that postcommunist economic failure is the outcome of too close adherence to liberal policy recommendations, which has led to an erosion of state effectiveness, and thus produced poor economic performance. The present paper advances a version of this statist theory based on a quantitative analysis of mass privatization programs in the postcommunist world. We argue that rapid large-scale privatization creates severe supply and demand shocks for enterprises, thereby inducing firm failure. The resulting erosion of tax revenues leads to a fiscal crisis for the state, and severely weakens its capacity and bureaucratic character. This, in turn, reacts back on the enterprise sector, as the state can no longer support the institutions necessary for the effective functioning of a modern economy, thus resulting in deindustrialization. Using cross-national regression techniques we find that the implementation of mass privatization programs negatively impacts measures of economic growth, state capacity and the security of property rights.http://deepblue.lib.umich.edu/bitstream/2027.42/40192/3/wp806.pd
Effect of an extract of Centella asiatica on the biodistribution of sodium pertechnetate (Na<sup>99m</sup>TcO<sub>4</sub>) and on the fixation of radioactivity on blood constituents
This study evaluates the effects of an acute treatment with a Centella asiatica (CA) extract on the biodistribution of the radiopharmaceutical Na99mTcO4 and on the fixation of technetium-99m on blood constituents. Wistar rats were treated with CA extract and, 1 hour after, Na99mTcO4 was administered; organs/tissues were withdrawn and weighted. The radioactivity was counted to calculate the percentage of activity per gram (%ATI/g). Also, blood samples were withdrawn, plasma (P), blood cells (BC), insoluble fraction (IF) and soluble fractions of P and BC were isolated and the radioactivity was counted to calculate the percentage of activity (%ATI). Data indicated that the acute treatment with CA extract changed significantly (p99mTcO4 and the fixation of the technetium-99m on blood constituents in an acute treatment
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