Relationship Lending and Firm Innovativeness

This study investigates the effects of relationship lending on firm innovativeness using a panel of Italian manufacturing firms. In order to disentangle the impact of bank ties on the discovery phase from that in the introduction phase of new technologies, the analysis proceeds in two steps, estimating two distinct equations for each phase. As there are conflicting theoretical predictions on the effects of the various sources of funding in the different stages of the innovative process, this study provides results for small and high-tech firms, so as to control for firm heterogeneity, relying on both cross-section and panel data techniques. Results suggest that for small firms, banks do not carry out a sophisticated intervention at the stage of development of new technologies, playing their traditional role of financing investments of constrained firms. Differently, relationship banks do play an important role in both phases for high-tech firms.Credit relationship;external financing;bank competition

Intensity of Competition and Market Structure in the Italian Banking Industry

This work tests the predictions of Sutton’s model of independent submarkets for the Italian retail banking industry. In the first part of this paper, I develop a model of endogenous mergers to evidence the relationship between firms’ conduct, market entry and market structure. In the second part, I identify the submarket dimension and estimate the relationship between market size and market structure using data on bank branches. The size of the submarkets turned out to be at most provincial whereas the limiting concentration index - as argued by Sutton for industries with exogenous sunk costs - goes to zero as the market becomes larger.Concentration;Truncated Poisson and Negative Binomial models;quantile regressions

Segmentation and generalisation for writing skills transfer from humans to robots

In this study, the authors present an enhanced generalised teaching by demonstration technique for a KUKA iiwa robot. Movements are recorded from a human operator, and then the recorded data are sent to be segmented via MATLAB by using the difference method (DV). The outputted trajectories data are used to model a non-linear system named dynamic movement primitive (DMP). For the purpose of learning from multiple demonstrations correctly and accurately, the Gaussian mixture model is employed for the evaluation of the DMP in order to modelling multiple trajectories by the teaching of demonstrator. Furthermore, a synthesised trajectory with smaller position errors in 3D space has been successfully generated by the usage of the Gaussian mixture regression algorithm. The proposed approach has been tested and demonstrated by performing a Chinese characters writing task with a KUKA iiwa robot

Analysis of unmitigated large break loss of coolant accidents using MELCOR code

In the framework of severe accident research activity developed by ENEA, a MELCOR nodalization of a generic Pressurized Water Reactor of 900 MWe has been developed. The aim of this paper is to present the analysis of MELCOR code calculations concerning two independent unmitigated large break loss of coolant accident transients, occurring in the cited type of reactor. In particular, the analysis and comparison between the transients initiated by an unmitigated double-ended cold leg rupture and an unmitigated double-ended hot leg rupture in the loop 1 of the primary cooling system is presented herein. This activity has been performed focusing specifically on the in-vessel phenomenology that characterizes this kind of accidents. The analysis of the thermal-hydraulic transient phenomena and the core degradation phenomena is therefore here presented. The analysis of the calculated data shows the capability of the code to reproduce the phenomena typical of these transients and permits their phenomenological study. A first sequence of main events is here presented and shows that the cold leg break transient results faster than the hot leg break transient because of the position of the break. Further analyses are in progress to quantitatively assess the results of the code nodalization for accident management strategy definition and fission product source term evaluation

Unveiling the inner morphology and gas kinematics of NGC 5135 with ALMA

The local Seyfert 2 galaxy NGC5135, thanks to its almost face-on appearance, a bulge overdensity of stars, the presence of a large-scale bar, an AGN and a Supernova Remnant, is an excellent target to investigate the dynamics of inflows, outflows, star formation and AGN feedback. Here we present a reconstruction of the gas morphology and kinematics in the inner regions of this galaxy, based on the analysis of Atacama Large Millimeter Array (ALMA) archival data. To our purpose, we combine the available $\sim$100 pc resolution ALMA 1.3 and 0.45 mm observations of dust continuum emission, the spectroscopic maps of two transitions of the CO molecule (tracer of molecular mass in star forming and nuclear regions), and of the CS molecule (tracer of the dense star forming regions) with the outcome of the SED decomposition. By applying the $^{\rm 3D}$BAROLO software (3D-Based Analysis of Rotating Object via Line Observations), we have been able to fit the galaxy rotation curves reconstructing a 3D tilted-ring model of the disk. Most of the observed emitting features are described by our kinematic model. We also attempt an interpretation for the emission in few regions that the axisymmetric model fails to reproduce. The most relevant of these is a region at the northern edge of the inner bar, where multiple velocity components overlap, as a possible consequence of the expansion of a super-bubble.Comment: 15 pages, 13 figures, resubmitted to MNRAS after moderate revision

Three-dimensional flow instability in a lid-driven isosceles triangular cavity

Linear three-dimensional modal instability of steady laminar two-dimensional states developing in a lid-driven cavity of isosceles triangular cross-section is investigated theoretically and experimentally for the case in which the equal sides form a rectangular corner. An asymmetric steady two-dimensional motion is driven by the steady motion of one of the equal sides. If the side moves away from the rectangular corner, a stationary three-dimensional instability is found. If the motion is directed towards the corner, the instability is oscillatory. The respective critical Reynolds numbers are identified both theoretically and experimentally. The neutral curves pertinent to the two configurations and the properties of the respective leading eigenmodes are documented and analogies to instabilities in rectangular lid-driven cavities are discussed

Ab-initio calculation of all-optical time-resolved calorimetry of nanosized systems: Evidence of nanosecond-decoupling of electron and phonon temperatures

The thermal dynamics induced by ultrashort laser pulses in nanoscale systems, i.e. all-optical time-resolved nanocalorimetry is theoretically investigated from 300 to 1.5 K. We report ab-initio calculations describing the temperature dependence of the electron-phonon interactions for Cu nanodisks supported on Si. The electrons and phonons temperatures are found to decouple on the ns time scale at 10 K, which is two orders of magnitude in excess with respect to that found for standard low-temperature transport experiments. By accounting for the physics behind our results we suggest an alternative route for overhauling the present knowledge of the electron-phonon decoupling mechanism in nanoscale systems by replacing the mK temperature requirements of conventional experiments with experiments in the time-domain.Comment: 5 pages, 3 figures. Accepted on Physical Review B

ATLASGAL-selected massive clumps in the inner Galaxy: I. CO depletion and isotopic ratios

In the low-mass regime, it is found that the gas-phase abundances of C-bearing molecules in cold starless cores rapidly decrease with increasing density, as the molecules form mantles on dust grains. We study CO depletion in 102 massive clumps selected from the ATLASGAL 870 micron survey, and investigate its correlation with evolutionary stage and with the physical parameters of the sources. Moreover, we study the gradients in [12C]/[13C] and [18O]/[17O] isotopic ratios across the inner Galaxy, and the virial stability of the clumps. We use low-J emission lines of CO isotopologues and the dust continuum emission to infer the depletion factor fD. RATRAN one-dimensional models were also used to determine fD and to investigate the presence of depletion above a density threshold. The isotopic ratios and optical depth were derived with a Bayesian approach. We find a significant number of clumps with a large fD, up to ~20. Larger values are found for colder clumps, thus for earlier evolutionary phases. For massive clumps in the earliest stages of evolution we estimate the radius of the region where CO depletion is important to be a few tenths of a pc. Clumps are found with total masses derived from dust continuum emission up to ~20 times higher than the virial mass, especially among the less evolved sources. These large values may in part be explained by the presence of depletion: if the CO emission comes mainly from the low-density outer layers, the molecules may be subthermally excited, leading to an overestimate of the dust masses. CO depletion in high-mass clumps seems to behave as in the low-mass regime, with less evolved clumps showing larger values for the depletion than their more evolved counterparts, and increasing for denser sources. The C and O isotopic ratios are consistent with previous determinations, and show a large intrinsic scatter.Comment: 20 pages, 17 figures, 38 pages of online material (tables and figures

Preliminary neutron kinetic. Thermal hydraulic coupled analysis of the ALFRED reactor using PHISICS/RELAP5-3D

The development of a lead-cooled fast reactor (LFR) demonstrator was proposed, mainly in EU, to investigate the feasibility of an industrial size ELFR (European Lead-cooled Fast Reactor). The demonstrator, called ALFRED (Advanced Lead-cooled Fast Reactor European Demonstrator), consists of a pool-type lead-cooled fast reactor, with a nominal thermal power of 300 MWt. This paper aims to verify the capability of the PHISICS/RELAP5-3D coupled approach to simulate transients of such reactor and to evaluate the effects of accidental scenarios relevant for the safety analysis on the system thermal-hydraulics and on the core power spatial evolution. RELAP5-3D©, developed at Idaho National Laboratory (INL), is a thermal-hydraulic system code, validated for a wide range of transient simulations. The code provides the possibility to simulate innovative working fluids (such as lead and lead alloys) and to use a fully integrated multi-dimensional nodalization. In addition, the need to study complex neutronic systems recommended the development of a new kinetic model allowing the calculation with any number of energy groups and also considering the transport for the angular variations. At this purpose, INL developed PHISICS (Parallel and Highly Innovative Simulation for INL Code System) and its coupling methodology with RELAP5-3D. The simulation activity described in this paper has been focused on the safety analysis of ALFRED reactor assuming the occurrence of two unprotected transient scenarios: unprotected loss of flow (ULOF) and unprotected transient overpower (UTOP). At this purpose, a thermal-hydraulic geometrical scheme of the whole reactor has been developed. The models and the outcomes of the calculations are described and discussed in the paper, highlighting the capability of the coupling approach to obtain results consistent with the ones available in the literature

Disentangling the electronic and phononic glue in a high-Tc superconductor

Unveiling the nature of the bosonic excitations that mediate the formation of Cooper pairs is a key issue for understanding unconventional superconductivity. A fundamen- tal step toward this goal would be to identify the relative weight of the electronic and phononic contributions to the overall frequency (\Omega) dependent bosonic function, \Pi(\Omega). We perform optical spectroscopy on Bi2212 crystals with simultaneous time- and frequency-resolution; this technique allows us to disentangle the electronic and phononic contributions by their different temporal evolution. The strength of the interaction ({\lambda}~1.1) with the electronic excitations and their spectral distribution fully account for the high critical temperature of the superconducting phase transition.Comment: 9 pages, 4 figure