The Diversification Benefits of Universal Banking

We find that both the aggregate issuance of bonds, and the volume of commercial and industrial loans outstanding in the US, respond to fluctuations in industrial production and interest rates, but in opposite directions. This empirical result suggests that universal banks can reduce the cyclical fluctuations of their income, by jointly providing direct lending and security underwriting services.Universal Banking, Diversification

Investment and External Finance: An Empirical Analysis

This paper looks for evidence that the availability of external finance affects the aggregate investment of non-financial corporations of the US. We do not find any empirical support for this hypothesis. Furthermore, we find that the amount of external finance raised does not depend on the need to finance investment. Share issuance seems to be largely driven by stock market prices; moreover, quite surprisingly, it generates a positive impact on both the Tobin’s Q and debt issuance.

Financial Market Volatility and Primary Placements

This paper studies empirically the link between financial markets volatility and primary placements of stocks and bonds for the US economy. We find that the impact of volatility on primary placements is not statistically significant.Financial risk, Primary placements

Analysis of fractional Cauchy problems with some probabilistic applications

In this paper we give an explicit solution of Dzherbashyan-Caputo-fractional Cauchy problems related to equations with derivatives of order $\nu k$, for $k$ non-negative integer and $\nu>0$. The solution is obtained by connecting the differential equation with the roots of the characteristic polynomial and it is expressed in terms of Mittag-Leffler-type functions. Under the some stricter hypothesis the solution can be expressed as a linear combination of Mittag-Leffler functions with common fractional order $\nu$. We establish a probabilistic relationship between the solutions of differential problems with order $\nu/m$ and $\nu$, for natural $m$. Finally, we use the described method to solve fractional differential equations arising in the fractionalization of partial differential equations related to the probability law of planar random motions with finite velocities.Comment: 21 page

METHODS FOR OBTAINING. HOLLOW NANO-STRUCTURES

Methods are provided for obtaining hollow nano-structures which include the steps of providing a Suspended film starting layer on a Support Substrate, depositing on the starting layer a sacrificial layer, performing, in progressive sequence, a com plete erosion phase of said Support Substrate and starting layer and performing an at least partial erosion phase of the sacri ficial layer previously deposited on the starting layer so as to obtain holes passing through the starting layer and passing or non passing through the sacrificial layer, depositing, on the side of the support substrate opposite to that where the start ing layer is put, at least one covering layer arranged to inter nally cover the holes created by the progressive erosion. Hol low nano-structures formed by Such methods are also provided

Mapping the local dielectric response at the nanoscale by means of plasmonic force spectroscopy

At the present, the local optical properties of nanostructured materials are difficult to be measured by available instrumentation. We investigated the capability of plasmonic force spectroscopy of measuring the optical response at the nanoscale. The proposed technique is based on force measurements performed by combining Atomic Force Microscopy, or optical tweezers, and adiabatic compression of surface plasmon polaritons. We show that the optical forces, caused by the plasmonic field, depend on the local response of the substrates and, in principle, allow probing both the real and the imaginary part of the local permittivity with a spatial resolution of few nanometers

The Actuator Design and the Experimental Tests of a New Technology Large Deformable Mirror for Visible Wavelengths Adaptive Optics

Recently, Adaptive Secondary Mirrors showed excellent on-sky results in the Near Infrared wavelengths. They currently provide 30mm inter-actuator spacing and about 1 kHz bandwidth. Pushing these devices to be operated at visible wavelengths is a challenging task. Compared to the current systems, working in the infrared, the more demanding requirements are the higher spatial resolution and the greater correction bandwidth. In fact, the turbulence scale is shorter and the parameter variation is faster. Typically, the former is not larger than 25 mm (projected on the secondary mirror) and the latter is 2 kHz, therefore the actuator has to be more slender and faster than the current ones. With a soft magnetic composite core, a dual-stator and a single-mover, VRALA, the actuator discussed in this paper, attains unprecedented performances with a negligible thermal impact. Pre-shaping the current required to deliver a given stroke greatly simplifies the control system, whose output supplies the current generator. As the inductance depends on the mover position, the electronics of this generator, provided with an inductance measure circuit, works also as a displacement sensor, supplying the control system with an accurate feed-back signal. A preliminary prototype, built according to the several FEA thermo-magnetic analyses, has undergone some preliminary laboratory tests. The results of these checks, matching the design results in terms of power and force, show that the the magnetic design addresses the severe specifications