Financial Modernization in US Banking Markets: A Local or Global Event?

We test the hypothesis that the passage of the Financial Services Modernization Act (FSMA) of 1999 has spillover effects cross-nationally, using a sample of US, non-US transactional (Australian, Canadian, and UK), and relationship (German, Japanese, Dutch, and Swiss) banks. Our results suggest that financial modernization in the US has limited cross-national effects. We find strong evidence that US banks were affected favorably. Although we detect some evidence of significant reactions by banks in certain countries, a closer examination reveals that the reaction is most likely attributable to events in the respective countries during the event period. We do find, however, that non-US transactional banks have been more likely to elect financial holding company status compared to relationship banks, suggesting they are positioning themselves to exploit the expanded opportunity set created by the FSMA. Nonetheless, the majority of elections have been made by US banks. In general, the results suggest that the respective banking markets are efficient in filtering events that are largely country-specific with only limited implications for other international banks. Copyright Blackwell Publishers Ltd, 2005.

Talking and Thinking about Qualitative Research

This script comes from an edited transcript of a session titled “Talking and Thinking About Qualitative Research,” which was part of the 2006 International Congress of Qualitative Inquiry, held at the University of Illinois at Urbana-Champaign on May 4-6, 2006. This special session featured scholars informally responding to questions about their personal history with qualitative methods, epiphanies that attracted them to qualitative work or changed their perspectives within the qualitative tradition, ethical crises, exemplary qualitative studies, the current state of qualitative methods, and challenges and goals for the next decade. Panelists included Arthur Bochner (communication), Norman Denzin (sociology/communication/critical studies), Yvonna Lincoln (education), Janice Morse (nursing/anthropology), Ronald Pelias (performance studies/ communication), and Laurel Richardson (sociology/gender studies). Carolyn Ellis (communication/sociology) served as organizer and moderator

Carbonate Detection with SuperCam in Igneous Rocks on the floor of Jezero Crater, Mars

Perseverance explored two geological units on the floor of Jezero Crater over the first 420 Martian days of the Mars2020 mission. These units, the Máaz and Séítah formations, are interpreted to be igneous in origin, with traces of alteration. We report the detection of carbonate phases along the rover traverse based on laser-induced breakdown spectroscopy (LIBS), infrared reflectance spectroscopy (IRS), and time-resolved Raman (TRR) spectroscopy by the SuperCam instrument. Carbonates are identified through direct detection of vibrational modes of CO3 functional groups (IRS and TRR), major oxides content, and ratios of C and O signal intensities (LIBS). In Séítah, the carbonates are consistent with magnesite-siderite solid solutions (Mg# of 0.42-0.70) with low calcium contents (<5 wt.% CaO). They are detected together with olivine in IRS and TRR spectra. LIBS and IRS also indicate a spatial association of the carbonates with clays. Carbonates in Máaz are detected in fewer points, as: (i) siderite (Mg# as low as 0.03); (ii) carbonate-containing coatings, enriched in Mg (Mg# ∼0.82) and spatially associated with different salts. Overall, using conservative criteria, carbonate detections are rare in LIBS (∼30/2000 points), IRS (∼15/2000 points), and TRR (1 /150 points) data. This is best explained by (i) a low carbonate content overall, (ii) small carbonate grains mixed with other phases, (iii) intrinsic complexity of in situ measurements. This is consistent with orbital observations of Jezero crater, and similar to compositions of carbonates previously reported in Martian meteorites. This suggests a limited carbonation of Jezero rocks by locally equilibrated fluids