Are ‘born to rebel’ last-borns more likely to be self-employed?

This paper investigates birth order effects on adult self-employment. Drawing on Sulloway’s ‘born to rebel’ thesis, we test whether or not last-borns whose parents have no prior self-employment experience are more likely to bear and assume the risks associated with self-employment. We also test if parental self-employment experience moderates the relationship between last-borns and self-employment. Using large-scale life-span data on 6,322 cohort members, a within-family design, and controlling for demographic confounds such as the number of siblings, we find that last-borns from non-entrepreneurial families are more likely to be self-employed than first or middle-borns. However, in families with parental experience of self-employment, we find that last-borns in three or more child families are no more likely to be self-employed than their siblings

Bank market concentration, relationship banking and small business liquidity

This paper examines two contrasting interpretations of how bank market concentration (Market Power Hypothesis) and banking relationships (Information Hypothesis) affect three sources of small firm liquidity (cash, lines of credit and trade credit). Supportive of a market power interpretation, we find that in a highly concentrated banking market, small firms hold less cash, have less access to lines of credit, and are more likely to be financially constrained, use greater amounts of more expensive trade credit and face higher penalties for trade credit late payment. We also find support for the information hypothesis: relationship banking improves small business liquidity, particularly in a concentrated banking market, thereby mitigating the adverse effects of bank market concentration derived from market power. Our results are robust to different cash, lines of credit and trade credit measures and to alternative empirical approaches

Aeroheating Measurements of BOLT Aerodynamic Fairings and Transition Module

The Air Force Office of Scientific Research (AFOSR) has sponsored the Boundary Layer Transition (BOLT) Experiments to investigate hypersonic boundary layer transition on a low-curvature, concave surface with swept leading edges. This paper presents aeroheating measurements on a subscale model of the BOLT Flight Geometry, aerodynamic fairings, and Transition Module (TSM) in the NASA Langley 20-Inch Mach 6 Air Tunnel. The purpose of the test was to investigate and identify any areas of localized heating on the TSM for inclusion in the BOLT Critical Design Review (CDR). Surface heating distributions were measured using global phosphor thermography, and data were obtained for a range of model attitudes and free stream Reynolds numbers. Measurements showed low heating on the fairings and TSM. Additional analysis was completed after the CDR to compare heating on the TSM for the nominal BOLT vehicle reentry angle-of-attack with heating on the TSM for possible reentry angle-of-attack excursions. The results of this analysis were used in conjunction with thermal analyses from Johns Hopkins Applied Physics Lab (JHU/APL) and the Air Force Research Laboratory (AFRL) to assess the need for thermal protection on the flight vehicle TSM

If you dont succeed, should you try again? : the role of entrepreneurial experience in venture survival

There remains considerable scholarly debate about the role that prior entrepreneurial experience plays in new venture survival. Drawing on entrepreneurial learning theories, we use panel data on 8,400 new ventures to investigate the impact of four different types of prior entrepreneurial experience (portfolio, serial, failure (bankruptcy/voluntary dissolution) and a mix of success (portfolio/serial) and failure (prior bankruptcy/dissolution) on venture survival outcomes. We find that previously failed entrepreneurs are less likely to survive and, in common with entrepreneurs with mixed prior experiences, are more likely to experience bankruptcy. We find that portfolio and serial experience is unrelated to survival or avoiding bankruptcy. Conclusions for entrepreneurship scholars, entrepreneurs and stakeholders are discussed

Overview of Boundary Layer Transition Research in Support of Orbiter Return To Flight

A predictive tool for estimating the onset of boundary layer transition resulting from damage to and/or repair of the thermal protection system was developed in support of Shuttle Return to Flight. The boundary layer transition tool is part of a suite of tools that analyze the aerothermodynamic environment to the local thermal protection system to allow informed disposition of damage for making recommendations to fly as is or to repair. Using mission specific trajectory information and details of each damage site or repair, the expected time (and thus Mach number) at transition onset is predicted to help define the aerothermodynamic environment to use in the subsequent thermal and stress analysis of the local thermal protection system and structure. The boundary layer transition criteria utilized for the tool was developed from ground-based measurements to account for the effect of both protuberances and cavities and has been calibrated against select flight data. Computed local boundary layer edge conditions were used to correlate the results, specifically the momentum thickness Reynolds number over the edge Mach number and the boundary layer thickness. For the initial Return to Flight mission, STS-114, empirical curve coefficients of 27, 100, and 900 were selected to predict transition onset for protuberances based on height, and cavities based on depth and length, respectively

Search for anomalous t t-bar production in the highly-boosted all-hadronic final state

A search is presented for a massive particle, generically referred to as a Z', decaying into a t t-bar pair. The search focuses on Z' resonances that are sufficiently massive to produce highly Lorentz-boosted top quarks, which yield collimated decay products that are partially or fully merged into single jets. The analysis uses new methods to analyze jet substructure, providing suppression of the non-top multijet backgrounds. The analysis is based on a data sample of proton-proton collisions at a center-of-mass energy of 7 TeV, corresponding to an integrated luminosity of 5 inverse femtobarns. Upper limits in the range of 1 pb are set on the product of the production cross section and branching fraction for a topcolor Z' modeled for several widths, as well as for a Randall--Sundrum Kaluza--Klein gluon. In addition, the results constrain any enhancement in t t-bar production beyond expectations of the standard model for t t-bar invariant masses larger than 1 TeV.Comment: Submitted to the Journal of High Energy Physics; this version includes a minor typo correction that will be submitted as an erratu

Combined search for the quarks of a sequential fourth generation

Results are presented from a search for a fourth generation of quarks produced singly or in pairs in a data set corresponding to an integrated luminosity of 5 inverse femtobarns recorded by the CMS experiment at the LHC in 2011. A novel strategy has been developed for a combined search for quarks of the up and down type in decay channels with at least one isolated muon or electron. Limits on the mass of the fourth-generation quarks and the relevant Cabibbo-Kobayashi-Maskawa matrix elements are derived in the context of a simple extension of the standard model with a sequential fourth generation of fermions. The existence of mass-degenerate fourth-generation quarks with masses below 685 GeV is excluded at 95% confidence level for minimal off-diagonal mixing between the third- and the fourth-generation quarks. With a mass difference of 25 GeV between the quark masses, the obtained limit on the masses of the fourth-generation quarks shifts by about +/- 20 GeV. These results significantly reduce the allowed parameter space for a fourth generation of fermions.Comment: Replaced with published version. Added journal reference and DO

Measurement of the t t-bar production cross section in the dilepton channel in pp collisions at sqrt(s) = 7 TeV

The t t-bar production cross section (sigma[t t-bar]) is measured in proton-proton collisions at sqrt(s) = 7 TeV in data collected by the CMS experiment, corresponding to an integrated luminosity of 2.3 inverse femtobarns. The measurement is performed in events with two leptons (electrons or muons) in the final state, at least two jets identified as jets originating from b quarks, and the presence of an imbalance in transverse momentum. The measured value of sigma[t t-bar] for a top-quark mass of 172.5 GeV is 161.9 +/- 2.5 (stat.) +5.1/-5.0 (syst.) +/- 3.6(lumi.) pb, consistent with the prediction of the standard model.Comment: Replaced with published version. Included journal reference and DO